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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
+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
(+10%)
Cap. Flow
-$6.15B
Cap. Flow
% of AUM
-5.84%
Top 10 Holdings %
Top 10 Hldgs %
26.91%
Holding
3,275
New
443
Increased
1,132
Reduced
929
Closed
300
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$699M |
| 2 |
UnitedHealth
UNH
|
+$618M |
| 3 |
Amazon
AMZN
|
+$433M |
| 4 |
Eli Lilly
LLY
|
+$410M |
| 5 |
iShares Core MSCI EAFE ETF
IEFA
|
+$392M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NVIDIA
NVDA
|
+$845M |
| 2 |
Tesla
TSLA
|
+$639M |
| 3 |
Microsoft
MSFT
|
+$528M |
| 4 |
Broadcom
AVGO
|
+$322M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
201
CALL
Oracle
ORCL
$442B
| $87.7M | 0.08% |
4,010
+3,210
| +401% | +$518K |
|
202
DoorDash
DASH
$92.1B
| $86.4M | 0.08% |
350,338
-1,319,080
| -79% | -$265M |
|
203
KKR & Co
KKR
$99.5B
| $86.3M | 0.08% |
648,862
-129,830
| -17% | -$15.2M |
|
204
CALL
Intuit
INTU
$91.6B
| $86.2M | 0.08% |
+1,094
| New | +$740K |
|
205
Mondelez International
MDLZ
$79.4B
| $85.6M | 0.08% |
1,269,756
+867,337
| +216% | +$57.9M |
|
206
Cadence Design Systems
CDNS
$89B
| $85.5M | 0.08% |
277,570
+4,014
| +1% | +$1.17M |
|
207
American Tower
AMT
$79.4B
| $85.3M | 0.08% |
385,818
-50,851
| -12% | -$11M |
|
208
3M
MMM
$94.8B
| $84.7M | 0.08% |
556,673
+1,476
| +0.3% | +$211K |
|
209
ASML
ASML
$695B
| $84.6M | 0.08% |
105,604
+53,353
| +102% | +$38.3M |
|
210
CALL
Chevron
CVX
$386B
| $84.5M | 0.08% |
5,900
-2,100
| -26% | -$296K |
|
211
Lowe's Companies
LOW
$121B
| $83.8M | 0.08% |
377,816
+143,589
| +61% | +$32M |
|
|
212
Chevron
CVX
$386B
| $83M | 0.08% |
579,787
+65,394
| +13% | +$9.22M |
|
213
CALL
Amgen
AMGN
$225B
| $82.4M | 0.08% |
+2,950
| New | +$836K |
|
214
Quanta Services
PWR
$102B
| $82.3M | 0.08% |
217,683
+22,879
| +12% | +$7.34M |
|
215
Aon
AON
$74.7B
| $81.7M | 0.08% |
229,203
+17,414
| +8% | +$6.31M |
|
216
PayPal
PYPL
$50.6B
| $81.5M | 0.08% |
1,096,810
+9,843
| +0.9% | +$674K |
|
217
Trane Technologies
TT
$105B
| $81.3M | 0.08% |
185,869
-116,112
| -38% | -$45.8M |
|
218
CVS Health
CVS
$121B
| $81.2M | 0.08% |
1,177,825
-83,710
| -7% | -$5.49M |
|
|
ANSS
219
DELISTED
Ansys
ANSS
| $77.7M | 0.07% |
221,221
-84,515
| -28% | -$27.7M |
|
220
US Bancorp
USB
$101B
| $77.4M | 0.07% |
1,710,829
-92,132
| -5% | -$3.87M |
|
221
McKesson
MCK
$102B
| $77.2M | 0.07% |
105,343
-72,041
| -41% | -$50.8M |
|
222
Cencora
COR
$60B
| $76.9M | 0.07% |
256,449
+178,383
| +229% | +$51.4M |
|
|
B
223
Barrick Mining
B
$67.9B
| $76.4M | 0.07% |
3,694,715
-6,475,421
| -64% | -$127M |
|
224
Synopsys
SNPS
$79B
| $76.2M | 0.07% |
148,570
+58,295
| +65% | +$27.2M |
|
225
O'Reilly Automotive
ORLY
$74.5B
| $75.7M | 0.07% |
839,456
+37,166
| +5% | +$3.39M |
|
Similar funds
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.