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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
MCW
2376
DELISTED
Mister Car Wash
MCW
$9.47K ﹤0.01%
1,578
-842
-35% -$5.91K
NIU
2377
Niu Technologies
NIU
$166M
$9.41K ﹤0.01%
2,800
– –
SDG icon
2378
iShares MSCI Global Sustainable Development Goals ETF
SDG
$175M
$9.41K ﹤0.01%
124
+11
+10% +$810
EPP icon
2379
iShares MSCI Pacific ex Japan ETF
EPP
$2.24B
$9.38K ﹤0.01%
190
– –
BNDW icon
2380
Vanguard Total World Bond ETF
BNDW
$1.89B
$9.36K ﹤0.01%
135
– –
AVAV icon
2381
AeroVironment
AVAV
$9.59B
$9.35K ﹤0.01%
33
-111
-77% -$18.8K
STEM icon
2382
Stem
STEM
$55.9M
$9.23K ﹤0.01%
1,481
-26
-2% -$233
DFTX
2383
Definium Therapeutics
DFTX
$5.9B
$9.22K ﹤0.01%
1,421
– –
TMDX icon
2384
Transmedics
TMDX
$3.11B
$9.1K ﹤0.01%
68
-17
-20% -$1.87K
REAX icon
2385
Real Brokerage
REAX
$523M
$8.93K ﹤0.01%
1,985
– –
XSMO icon
2386
Invesco S&P SmallCap Momentum ETF
XSMO
$3.11B
$8.83K ﹤0.01%
130
– –
FXC icon
2387
Invesco CurrencyShares Canadian Dollar Trust
FXC
$73.6M
$8.83K ﹤0.01%
123
– –
ZETA icon
2388
Zeta Global
ZETA
$7.44B
$8.79K ﹤0.01%
568
-1,207
-68% -$16K
BF.A icon
2389
Brown-Forman Class A
BF.A
$13.1B
$8.57K ﹤0.01%
312
-158
-34% -$5.07K
FLG
2390
Flagstar Bank National Association
FLG
$5.92B
$8.55K ﹤0.01%
807
-47
-6% -$537
WAFD icon
2391
WaFd
WAFD
$2.81B
$8.55K ﹤0.01%
292
+84
+40% +$2.38K
ETHE
2392
Grayscale Ethereum Staking ETF Shares
ETHE
$1.53B
$8.34K ﹤0.01%
400
– –
COWZ icon
2393
Pacer US Cash Cows 100 ETF
COWZ
$19.8B
$8.27K ﹤0.01%
150
-14,162
-99% -$750K
HEEM icon
2394
iShares Currency Hedged MSCI Emerging Markets
HEEM
$293M
$8.25K ﹤0.01%
274
-1,600
-85% -$45.3K
BTE icon
2395
PUT
Baytex Energy
BTE
$3B
$8.24K ﹤0.01%
46
-539
-92% -$943
INVZ icon
2396
Innoviz Technologies
INVZ
$114M
$8.2K ﹤0.01%
5,000
+2,000
+67% +$1.75K
FUN icon
2397
Cedar Fair
FUN
$1.71B
$8.18K ﹤0.01%
269
+179
+199% +$6K
LNTH icon
2398
Lantheus
LNTH
$6.59B
$8.18K ﹤0.01%
100
+46
+85% +$4.04K
WUGI icon
2399
AXS Esoterica NextG Economy ETF
WUGI
$32.9M
$8.14K ﹤0.01%
100
– –
CCRD
2400
DELISTED
CoreCard
CCRD
$8.08K ﹤0.01%
280
– –
94 95
96
97 98

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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.