National Bank of Canada Top Holdings and 13F Report (2025)

About National Bank of Canada

National Bank of Canada OTCMKTS: NTIOF has filed 13-F forms with the SEC as an investor. National Bank of Canada is itself a publicly traded company. National Bank of Canada provides financial services to individuals, businesses, institutional clients, and governments in Canada and internationally. It operates through four segments: Personal and Commercial, Wealth Management, Financial Markets, and U. For more information on National Bank of Canada stock, visit the National Bank of Canada stock profile here.

Investment Activity

National Bank of Canada has $105.21 billion in total holdings as of June 30, 2025.
National Bank of Canada owns shares of 2,974 different stocks, but just 192 companies or ETFs make up 80% of its holdings.
Approximately 17.22% of the portfolio was purchased this quarter.
About 20.18% of the portfolio was sold this quarter.
This quarter, National Bank of Canada has purchased 2,830 new stocks and bought additional shares in 1,129 stocks.
National Bank of Canada sold shares of 921 stocks and completely divested from 318 stocks this quarter.

Largest Holdings

NVIDIA: $5,012,803,502
Microsoft: $4,569,831,282
Apple: $3,814,398,047
Amazon.com: $3,000,556,894
Royal Bank Of Canada: $2,242,096,332

Largest New Holdings this Quarter

19260Q907 - COINBASE GLOBAL INC: $740,725,566 Holding
91324P952 - UNITEDHEALTH GROUP INC: $480,433,800 Holding
64110L906 - NETFLIX INC: $281,217,300 Holding
46625H950 - JPMORGAN CHASE & CO.: $185,542,400 Holding
290876101 - Emera: $182,769,648 Holding

Largest Purchases this Quarter

COINBASE GLOBAL INC: 21,134 shares (about $740.73M)
Apple: 3,460,782 shares (about $710.01M)
ALPHABET INC: 32,526 shares (about $573.31M)
COINBASE GLOBAL INC: 15,499 shares (about $543.22M)
UnitedHealth Group: 1,617,071 shares (about $504.47M)

Largest Sales this Quarter

NVIDIA: 6,710,924 shares (about $1.06B)
Tesla: 2,120,892 shares (about $673.72M)
Microsoft: 1,216,838 shares (about $605.22M)
SPDR S&P 500 ETF TR: 6,801 shares (about $420.20M)
Coinbase Global: 1,170,702 shares (about $410.32M)

Sector Allocation Over Time

Selling

Neutral

Buying

Latest 13F Holdings and Changes Since Previous Quarterly Filing

Issuer Name	Holdings Value	Approximate Purchase/Sale	Change in Shares	Shares Held	% of Portfolio	Sector
NVDA NVIDIA	$5,012,803,502	$1,060,208,312 ▼	-17.5%	31,730,126	4.8%	Computer and Technology
MSFT Microsoft	$4,569,831,282	$605,222,695 ▼	-11.7%	9,187,931	4.3%	Computer and Technology
AAPL Apple	$3,814,398,047	$710,013,297 ▲	22.9%	18,592,328	3.6%	Computer and Technology
AMZN Amazon.com	$3,000,556,894	$480,130,128 ▲	19.0%	13,676,975	2.9%	Retail/Wholesale
RY Royal Bank Of Canada	$2,242,096,332	$209,347,507 ▼	-8.5%	17,046,636	2.1%	Finance
TD Toronto Dominion Bank	$2,240,645,273	$61,266,047 ▼	-2.7%	30,487,213	2.1%	Finance
GOOGL Alphabet	$2,095,478,900	$372,997,686 ▲	21.7%	11,890,439	2.0%	Computer and Technology
META Meta Platforms	$1,868,515,253	$91,515,692 ▼	-4.7%	2,531,598	1.8%	Computer and Technology
AVGO Broadcom	$1,802,294,643	$408,917,092 ▼	-18.5%	6,538,345	1.7%	Computer and Technology
TSLA Tesla	$1,668,981,759	$673,718,293 ▼	-28.8%	5,254,021	1.6%	Auto/Tires/Trucks
BN Brookfield	$1,307,258,273	$130,256,921 ▲	11.1%	21,151,700	1.2%	Finance
JPM JPMorgan Chase & Co.	$1,213,176,115	$96,758,703 ▼	-7.4%	4,184,962	1.2%	Finance
SHOPIFY INC	$1,202,599,097	$146,103,278 ▲	13.8%	10,449,899	1.1%	CL A SUB VTG SHS
BMO Bank Of Montreal	$1,141,306,004	$302,274,741 ▼	-20.9%	10,306,979	1.1%	Finance
BNS Bank of Nova Scotia	$1,050,486,458	$177,912,205 ▼	-14.5%	19,009,442	1.0%	Finance
CM Canadian Imperial Bank of Commerce	$1,027,123,567	$173,419,438 ▼	-14.4%	14,486,339	1.0%	Finance
UNH UnitedHealth Group	$1,016,460,214	$504,469,990 ▲	98.5%	3,258,248	1.0%	Medical
COINBASE GLOBAL INC	$1,013,196,492	$543,224,451 ▲	115.6%	28,908	1.0%	PUT
TESLA INC	$984,746,000	$72,998,268 ▼	-6.9%	31,000	0.9%	PUT
GOOG Alphabet	$984,623,710	$162,144,538 ▼	-14.1%	5,550,969	0.9%	Computer and Technology
ENB Enbridge	$969,142,868	$378,206,265 ▲	64.0%	21,414,643	0.9%	Energy
BRK.B Berkshire Hathaway	$874,434,884	$122,149,581 ▲	16.2%	1,800,934	0.8%	Finance
MFC Manulife Financial	$867,074,880	$3,207,009 ▲	0.4%	27,132,314	0.8%	Finance
LLY Eli Lilly and Company	$816,700,822	$411,105,928 ▲	101.4%	1,047,730	0.8%	Medical
ALPHABET INC	$779,441,823	$573,305,098 ▲	278.1%	44,221	0.7%	PUT
CNI Canadian National Railway	$775,232,511	$13,010,714 ▼	-1.7%	7,454,515	0.7%	Transportation
COST Costco Wholesale	$772,856,740	$30,969,851 ▼	-3.9%	780,896	0.7%	Retail/Wholesale
NVIDIA CORPORATION	$771,417,773	$70,179,158 ▼	-8.3%	48,827	0.7%	PUT
COINBASE GLOBAL INC	$740,725,566	$740,725,566 ▲	New Holding	21,134	0.7%	CALL
HON Honeywell International	$730,514,467	$109,109,629 ▼	-13.0%	3,136,871	0.7%	Multi-Sector Conglomerates
IEFA iShares Core MSCI EAFE ETF	$705,335,761	$412,405,745 ▲	140.8%	8,449,555	0.7%	ETF
CP Canadian Pacific Kansas City	$649,489,096	$4,062,446 ▲	0.6%	8,188,548	0.6%	Transportation
CNQ Canadian Natural Resources	$626,898,606	$98,041,215 ▲	18.5%	19,963,129	0.6%	Energy
AEM Agnico Eagle Mines	$573,752,848	$61,728,377 ▲	12.1%	4,835,647	0.5%	Basic Materials
TRP TC Energy	$542,601,441	$43,032,360 ▲	8.6%	11,142,806	0.5%	Energy
BCE BCE	$522,915,385	$42,561,018 ▲	8.9%	23,601,890	0.5%	Utilities
WCN Waste Connections	$500,571,575	$21,782,412 ▼	-4.2%	2,685,322	0.5%	Business Services
SU Suncor Energy	$492,202,918	$220,732,476 ▲	81.3%	13,147,816	0.5%	Energy
MA Mastercard	$489,212,819	$25,246,290 ▼	-4.9%	870,733	0.5%	Business Services
MICROSTRATEGY INC	$485,076,000	$202,115,000 ▲	71.4%	12,000	0.5%	PUT
UNITEDHEALTH GROUP INC	$480,433,800	$480,433,800 ▲	New Holding	15,400	0.5%	PUT
SLF Sun Life Financial	$445,904,211	$105,676,932 ▲	31.1%	6,722,256	0.4%	Finance
HD Home Depot	$445,381,981	$217,637,052 ▼	-32.8%	1,214,769	0.4%	Retail/Wholesale
TU TELUS	$434,669,815	$44,645,959 ▼	-9.3%	27,082,556	0.4%	Utilities
INTC Intel	$425,157,329	$146,951,192 ▲	52.8%	18,980,556	0.4%	Computer and Technology
CTSH Cognizant Technology Solutions	$404,510,660	$13,907,987 ▲	3.6%	5,184,041	0.4%	Computer and Technology
EQIX Equinix	$396,405,992	$82,814,505 ▲	26.4%	498,331	0.4%	Finance
JNJ Johnson & Johnson	$390,837,428	$106,478,227 ▲	37.4%	2,558,989	0.4%	Medical
CSCO Cisco Systems	$390,623,336	$34,336,481 ▼	-8.1%	5,630,797	0.4%	Computer and Technology
CRM Salesforce	$387,869,182	$207,832,722 ▼	-34.9%	1,422,569	0.4%	Computer and Technology
BKNG Booking	$386,786,566	$299,508,917 ▼	-43.6%	66,812	0.4%	Retail/Wholesale
PG Procter & Gamble	$384,605,989	$27,552,154 ▲	7.7%	2,414,034	0.4%	Consumer Staples
SPY SPDR S&P 500 ETF Trust	$380,621,818	$56,207,306 ▲	17.3%	615,999	0.4%	Finance
WMT Walmart	$377,024,135	$116,083,289 ▼	-23.5%	3,856,187	0.4%	Retail/Wholesale
BAC Bank of America	$359,432,249	$245,049,124 ▼	-40.5%	7,596,213	0.3%	Finance
GS The Goldman Sachs Group	$358,490,855	$62,278,728 ▲	21.0%	506,560	0.3%	Finance
WPM Wheaton Precious Metals	$358,445,099	$31,645,833 ▲	9.7%	4,000,876	0.3%	Basic Materials
FTS Fortis	$354,856,188	$28,065,367 ▲	8.6%	7,439,972	0.3%	Utilities
XOM Exxon Mobil	$334,593,070	$130,564,342 ▲	64.0%	3,103,819	0.3%	Energy
CCJ Cameco	$328,447,122	$9,793,893 ▲	3.1%	4,458,633	0.3%	Basic Materials
GE GE Aerospace	$319,237,123	$174,048,287 ▲	119.9%	1,240,303	0.3%	Aerospace
V Visa	$316,673,071	$193,870,479 ▼	-38.0%	892,419	0.3%	Business Services
ELI LILLY & CO	$316,411,227	$277,434,727 ▲	711.8%	4,059	0.3%	PUT
RCI Rogers Communication	$314,646,225	$46,103,302 ▲	17.2%	10,622,078	0.3%	Utilities
PEP PepsiCo	$311,976,804	$73,104,175 ▼	-19.0%	2,362,797	0.3%	Consumer Staples
INTEL CORP	$305,320,960	$113,417,920 ▲	59.1%	136,304	0.3%	PUT
DIS Walt Disney	$302,535,548	$34,170,359 ▲	12.7%	2,439,870	0.3%	Consumer Discretionary
PM Philip Morris International	$299,799,593	$89,636,032 ▼	-23.0%	1,646,081	0.3%	Consumer Staples
IEMG iShares Core MSCI Emerging Markets ETF	$297,803,310	$121,620,886 ▲	69.0%	4,961,200	0.3%	ETF
CCI Crown Castle	$296,707,136	$113,794,632 ▼	-27.7%	2,888,223	0.3%	Finance
ABBV AbbVie	$295,321,227	$61,752,942 ▲	26.4%	1,591,048	0.3%	Medical
HPE Hewlett Packard Enterprise	$289,712,315	$43,202,095 ▼	-13.0%	14,166,869	0.3%	Computer and Technology
TRI Thomson Reuters	$285,637,412	$73,330,668 ▼	-20.4%	1,465,677	0.3%	Business Services
NTR Nutrien	$284,633,000	$16,339,671 ▲	6.1%	4,898,939	0.3%	Basic Materials
TESLA INC	$281,446,760	$68,614,560 ▲	32.2%	8,860	0.3%	CALL
PALANTIR TECHNOLOGIES INC	$281,238,601	$96,832,387 ▲	52.5%	2,063,142	0.3%	CL A
NETFLIX INC	$281,217,300	$281,217,300 ▲	New Holding	2,100	0.3%	CALL
MRK Merck & Co., Inc.	$280,648,631	$23,275,389 ▲	9.0%	3,543,903	0.3%	Medical
FNV Franco-Nevada	$278,240,238	$16,688,070 ▲	6.4%	1,705,048	0.3%	Basic Materials
NFLX Netflix	$270,876,322	$244,833,612 ▼	-47.5%	202,304	0.3%	Consumer Discretionary
ORCL Oracle	$264,745,621	$82,195,743 ▼	-23.7%	1,210,881	0.3%	Computer and Technology
GIB CGI Group	$262,468,709	$62,889,303 ▼	-19.3%	2,511,055	0.2%	Computer and Technology
KO CocaCola	$255,857,243	$18,751,519 ▼	-6.8%	3,616,655	0.2%	Consumer Staples
COIN Coinbase Global	$253,993,424	$410,319,312 ▼	-61.8%	724,681	0.2%	Finance
MCD McDonald's	$249,460,520	$139,992,662 ▲	127.9%	853,802	0.2%	Retail/Wholesale
INTU Intuit	$248,933,120	$73,210,851 ▼	-22.7%	316,054	0.2%	Computer and Technology
BAM Brookfield Asset Management	$243,970,902	$120,962,694 ▲	98.3%	4,422,338	0.2%	Finance
NOW ServiceNow	$240,010,273	$89,181,213 ▲	59.1%	233,478	0.2%	Computer and Technology
AMAT Applied Materials	$236,837,341	$48,139,170 ▲	25.5%	1,293,718	0.2%	Computer and Technology
QSR Restaurant Brands International	$236,497,563	$26,122,783 ▼	-9.9%	3,576,889	0.2%	Retail/Wholesale
PBA Pembina Pipeline	$229,824,152	$6,413,933 ▲	2.9%	6,124,802	0.2%	Energy
MSTR Strategy	$229,580,782	$71,444,409 ▼	-23.7%	567,946	0.2%	Computer and Technology
VANECK ETF TRUST	$227,700,028	$18,939,428 ▲	9.1%	43,738	0.2%	PUT
TMUS T-Mobile US	$218,604,688	$76,531,463 ▲	53.9%	917,568	0.2%	Computer and Technology
PALANTIR TECHNOLOGIES INC	$217,566,720	$117,766,848 ▲	118.0%	15,960	0.2%	CALL
C Citigroup	$213,387,106	$32,806,380 ▼	-13.3%	2,506,967	0.2%	Financial Services
NVIDIA CORPORATION	$213,286,500	$71,048,103 ▲	50.0%	13,500	0.2%	CALL
QCOM QUALCOMM	$210,253,186	$14,109,232 ▲	7.2%	1,320,137	0.2%	Computer and Technology
LAM RESEARCH CORP	$209,808,313	$23,534,510 ▲	12.6%	2,155,423	0.2%	COM NEW
PFE Pfizer	$208,186,954	$28,497,680 ▼	-12.0%	8,588,769	0.2%	Medical

Showing largest 100 holdings. View all holdings.

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National Bank of Canada Top Holdings and 13F Report (2025)

About National Bank of Canada

Investment Activity

Largest Holdings

Largest New Holdings this Quarter

Largest Purchases this Quarter

Largest Sales this Quarter

Sector Allocation Over Time

Latest 13F Holdings and Changes Since Previous Quarterly Filing

More Institutional Buying and Selling Information

Best-in-Class Portfolio Monitoring

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National Bank of Canada Top Holdings and 13F Report (2025)

About National Bank of Canada

Investment Activity

Largest Holdings

Largest New Holdings this Quarter

Largest Purchases this Quarter

Largest Sales this Quarter

Sector Allocation Over Time

Map of 500 Largest Holdings ofNational Bank of Canada

Latest 13F Holdings and Changes Since Previous Quarterly Filing

More Institutional Buying and Selling Information

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools