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National Bank of Canada Portfolio holdings
AUM
$140B
1-Year Est. Return
46.34%
This Fund
S&P 500
This Quarter
Est. Return
-3.11%
1 Year Est. Return
+46.34%
3 Year Est. Return
+120.97%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$95.5B
AUM Growth
+$1.11B
(+1.2%)
Cap. Flow
+$7.77B
Cap. Flow
% of AUM
8.14%
Top 10 Holdings %
Top 10 Hldgs %
25.01%
Holding
3,248
New
337
Increased
1,070
Reduced
980
Closed
415
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Tesla
TSLA
|
+$1.85B |
| 2 |
Apple
AAPL
|
+$1.72B |
| 3 |
Microsoft
MSFT
|
+$1.17B |
| 4 |
Amazon
AMZN
|
+$1.09B |
| 5 |
NVIDIA
NVDA
|
+$872M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Micron Technology
MU
|
+$397M |
| 2 |
Suncor Energy
SU
|
+$387M |
| 3 |
Strategy Inc
MSTR
|
+$340M |
| 4 |
Enbridge
ENB
|
+$269M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$254M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 22.54% |
| 2 | Financials | 18.94% |
| 3 | Consumer Discretionary | 8.9% |
| 4 | Industrials | 7.28% |
| 5 | Communication Services | 7.25% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
201
Williams Companies
WMB
$90.1B
| $93.7M | 0.1% |
1,567,474
-146,884
| -9% | -$8.41M |
|
202
Oneok
OKE
$58.3B
| $93.2M | 0.1% |
939,695
-79,961
| -8% | -$7.94M |
|
203
Republic Services
RSG
$65.6B
| $91.9M | 0.1% |
379,358
+147,241
| +63% | +$33M |
|
204
Freeport-McMoran
FCX
$96.9B
| $91.4M | 0.1% |
2,414,858
-118,473
| -5% | -$4.53M |
|
205
Magna International
MGA
$18.6B
| $90.8M | 0.1% |
2,672,997
-527,697
| -16% | -$20.3M |
|
206
PUT
Constellation Energy
CEG
$98.7B
| $90.7M | 0.1% |
+4,500
| New | +$1.21M |
|
207
CME Group
CME
$94.3B
| $90.2M | 0.09% |
340,110
-153,413
| -31% | -$37.8M |
|
208
KKR & Co
KKR
$99.5B
| $90.1M | 0.09% |
778,692
+237,987
| +44% | +$32.7M |
|
209
Global Payments
GPN
$23.4B
| $89.4M | 0.09% |
912,667
+708,451
| +347% | +$74.1M |
|
210
CALL
argenx
ARGX
$54.8B
| $88.8M | 0.09% |
1,500
| – | – |
|
211
iShares MSCI ACWI ETF
ACWI
$33.4B
| $88.4M | 0.09% |
759,507
+336,296
| +79% | +$40.3M |
|
212
General Motors
GM
$76.1B
| $87.8M | 0.09% |
1,866,675
-1,485,848
| -44% | -$73.2M |
|
213
Elevance Health
ELV
$86.6B
| $87.7M | 0.09% |
201,727
-49,145
| -20% | -$19.7M |
|
214
Boston Scientific
BSX
$74.5B
| $87.5M | 0.09% |
867,197
+255,916
| +42% | +$25.8M |
|
215
Duke Energy
DUK
$96.3B
| $87.1M | 0.09% |
713,970
+309,928
| +77% | +$35.3M |
|
216
Open Text
OTEX
$5.8B
| $86.7M | 0.09% |
3,465,470
+50,292
| +1% | +$1.38M |
|
217
Chevron
CVX
$386B
| $86.1M | 0.09% |
514,393
-46,593
| -8% | -$7.29M |
|
218
CVS Health
CVS
$121B
| $85.5M | 0.09% |
1,261,535
-1,421,037
| -53% | -$85M |
|
219
Verizon
VZ
$195B
| $84.6M | 0.09% |
1,864,861
-1,067,237
| -36% | -$44.4M |
|
220
Aon
AON
$74.7B
| $84.5M | 0.09% |
211,789
-42,792
| -17% | -$16.4M |
|
221
Descartes Systems
DSGX
$6.65B
| $82.7M | 0.09% |
822,168
+91,390
| +13% | +$10.1M |
|
222
TFI International
TFII
$12B
| $81.8M | 0.09% |
1,061,390
+151,434
| +17% | +$16.8M |
|
223
3M
MMM
$94.8B
| $81.5M | 0.09% |
555,197
+141,333
| +34% | +$20.8M |
|
224
KraneShares CSI China Internet ETF
KWEB
$5.45B
| $80.8M | 0.08% |
2,316,036
+1,055,227
| +84% | +$35M |
|
225
Zoetis
ZTS
$30.4B
| $78.7M | 0.08% |
477,790
+168,665
| +55% | +$28M |
|
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National Bank of Canada's Q1 2025 Portfolio in Review
As of Q1 2025, National Bank of Canada held 3,248 positions worth $95.5B, up 1.2% from $94.4B the previous quarter. Its ten largest holdings account for 25% of the portfolio.
National Bank of Canada deployed $7.77B of net new capital in Q1 2025, opening 337 new positions and adding to 1,070 existing holdings. Its largest new stake was Futu Holdings: 594,502 shares worth $60.8M.
By sector, the portfolio is most concentrated in Technology at 23% of assets, up from 22% a quarter earlier, followed by Financials and Consumer Discretionary.
On the sell side, the largest reduction was Micron Technology, an estimated $397M trimmed.
- National Bank of Canada's largest Q1 2025 buy was Futu Holdings: 594,502 shares worth $60.8M.
- National Bank of Canada added most to Tesla in Q1 2025, an estimated $1.85B increase.
- National Bank of Canada's biggest Q1 2025 reduction was Micron Technology, cutting an estimated $397M.
- National Bank of Canada fully exited Kanzhun in Q1 2025, selling an estimated $36M.
- National Bank of Canada's ten largest holdings make up 25% of its $95.5B portfolio in Q1 2025.
- National Bank of Canada opened 337 new positions and closed 415 in Q1 2025.
- National Bank of Canada's portfolio value rose 1.2% quarter-over-quarter to $95.5B.
Based on National Bank of Canada's 13F filing for Q1 2025, filed 12 May 2025.