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National Bank of Canada

National Bank of Canada Portfolio holdings

AUM $140B
1-Year Est. Return 46.34%
This Fund
S&P 500
This Quarter Est. Return
+14.61%
1 Year Est. Return
+46.34%
3 Year Est. Return
+120.97%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$105B
AUM Growth
+$9.72B
Cap. Flow
-$6.15B
Cap. Flow %
-5.84%
Top 10 Hldgs %
26.91%
Holding
3,275
New
443
Increased
1,132
Reduced
929
Closed
300

Top Buys

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$699M
2
UNH icon
UnitedHealth
UNH
+$618M
3
AMZN icon
Amazon
AMZN
+$433M
4
LLY icon
Eli Lilly
LLY
+$410M
5
IEFA icon
iShares Core MSCI EAFE ETF
IEFA
+$392M

Top Sells

Rank Stock Value
1
NVDA icon
NVIDIA
NVDA
+$845M
2
TSLA icon
Tesla
TSLA
+$639M
3
MSFT icon
Microsoft
MSFT
+$528M
4
AVGO icon
Broadcom
AVGO
+$322M
5
TSM icon
TSMC
TSM
+$322M

Sector Composition

Rank Sector Weight
1 Technology 23.82%
2 Financials 17.46%
3 Consumer Discretionary 8.35%
4 Communication Services 7.63%
5 Industrials 7.12%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SES icon
2151
PUT
SES AI
SES
$227M
$22.3K ﹤0.01%
+251
New +$211
SWAN icon
2152
Amplify BlackSwan Growth & Treasure Core ETF
SWAN
$162M
$22.3K ﹤0.01%
730
– –
USNA icon
2153
Usana Health Sciences
USNA
$252M
$22K ﹤0.01%
721
+39
+6% +$1.11K
AGZ icon
2154
iShares Agency Bond ETF
AGZ
$566M
$21.9K ﹤0.01%
200
-100
-33% -$10.9K
WDS icon
2155
Woodside Energy
WDS
$43.3B
$21.9K ﹤0.01%
1,423
-194
-12% -$2.71K
USAU icon
2156
US Gold Corp
USAU
$249M
$21.9K ﹤0.01%
1,800
– –
EWJV icon
2157
iShares MSCI Japan Value ETF
EWJV
$756M
$21.9K ﹤0.01%
630
– –
HASI icon
2158
Hannon Armstrong Sustainable Infrastructure Capital
HASI
$5.44B
$21.8K ﹤0.01%
+810
New +$21K
IGRO icon
2159
iShares International Dividend Growth ETF
IGRO
$1.31B
$21.7K ﹤0.01%
+275
New +$20.8K
ESE icon
2160
ESCO Technologies
ESE
$7.79B
$21.7K ﹤0.01%
113
– –
IAK icon
2161
iShares US Insurance ETF
IAK
$538M
$21.6K ﹤0.01%
161
+11
+7% +$1.46K
AYI icon
2162
Acuity Brands
AYI
$10.8B
$21.5K ﹤0.01%
72
-1,205
-94% -$312K
CMBS icon
2163
iShares CMBS ETF
CMBS
$473M
$21.4K ﹤0.01%
441
– –
CNTA
2164
DELISTED
Centessa Pharmaceuticals
CNTA
$21K ﹤0.01%
1,600
+1,000
+167% +$12.7K
NEXN
2165
Nexxen International
NEXN
$598M
$20.8K ﹤0.01%
2,006
+2,000
+33,333% +$20.3K
HYZD icon
2166
WisdomTree Trust WisdomTree Interest Rate Hedged High Yield Bond Fund
HYZD
$260M
$20.8K ﹤0.01%
933
– –
AGZD icon
2167
WisdomTree Trust WisdomTree Interest Rate Hedged US Aggregate Bond Fund
AGZD
$136M
$20.6K ﹤0.01%
928
– –
ORIO
2168
Orion Digital Corp
ORIO
$21.1M
$20.5K ﹤0.01%
18,117
-418
-2% -$474
USAS
2169
Americas Gold and Silver
USAS
$1.7B
$20.5K ﹤0.01%
11,472
+2,465
+27% +$3.98K
CAVA icon
2170
CAVA Group
CAVA
$8.43B
$20.5K ﹤0.01%
243
-260
-52% -$22.2K
OTEX icon
2171
PUT
Open Text
OTEX
$6.02B
$20.4K ﹤0.01%
7
-52
-88% -$1.41K
PBR.A icon
2172
Petrobras Class A
PBR.A
$104B
$20.4K ﹤0.01%
1,770
+117
+7% +$1.3K
EWY icon
2173
iShares MSCI South Korea ETF
EWY
$27.6B
$20.4K ﹤0.01%
284
+86
+43% +$5.16K
BIDU icon
2174
Baidu
BIDU
$35.5B
$20.3K ﹤0.01%
237
-59
-20% -$5.09K
FCT
2175
DELISTED
First Trust Senior Floating Rate Income Fund II
FCT
$20.3K ﹤0.01%
2,000
– –
85 86
87
88 89

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National Bank of Canada's Q2 2025 Portfolio in Review

As of Q2 2025, National Bank of Canada held 3,275 positions worth $105B, up 10% from $95.5B the previous quarter. Its ten largest holdings account for 27% of the portfolio.

National Bank of Canada withdrew a net $6.15B in Q2 2025, closing 300 positions and reducing 929 holdings. Its most notable exit was Discover Financial Services, an estimated $98.5M position sold in full.

By sector, the portfolio is most concentrated in Technology at 24% of assets, up from 23% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, National Bank of Canada opened a new position in Emera Inc worth $183M.

  • National Bank of Canada's largest Q2 2025 buy was Emera Inc: 3,995,659 shares worth $183M.
  • National Bank of Canada added most to Apple in Q2 2025, an estimated $699M increase.
  • National Bank of Canada's biggest Q2 2025 reduction was NVIDIA, cutting an estimated $845M.
  • National Bank of Canada fully exited Discover Financial Services in Q2 2025, selling an estimated $98.5M.
  • National Bank of Canada's ten largest holdings make up 27% of its $105B portfolio in Q2 2025.
  • National Bank of Canada opened 443 new positions and closed 300 in Q2 2025.
  • National Bank of Canada's portfolio value rose 10% quarter-over-quarter to $105B.

Based on National Bank of Canada's 13F filing for Q2 2025, filed 13 Aug 2025.