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. 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 $95.50 billion in total holdings as of March 31, 2025.
National Bank of Canada owns shares of 2,830 different stocks, but just 199 companies or ETFs make up 80% of its holdings.
Approximately 26.35% of the portfolio was purchased this quarter.
About 21.40% of the portfolio was sold this quarter.
This quarter, National Bank of Canada has purchased 2,909 new stocks and bought additional shares in 1,066 stocks.
National Bank of Canada sold shares of 975 stocks and completely divested from 435 stocks this quarter.

Largest Holdings

NVIDIA: $4,166,787,032
Microsoft: $3,905,398,105
Apple: $3,361,040,164
Amazon.com: $2,185,896,649
Royal Bank of Canada: $2,095,803,537

Largest New Holdings this Quarter

532457908 - ELI LILLY & CO: $165,182,000 Holding
43300A953 - HILTON WORLDWIDE HLDGS INC: $100,235,775 Holding
21037T959 - CONSTELLATION ENERGY CORP: $90,733,500 Holding
00724F901 - ADOBE INC: $77,664,825 Holding
90353T900 - UBER TECHNOLOGIES INC: $65,574,000 Holding

Largest Purchases this Quarter

Apple: 7,415,469 shares (about $1.65B)
Tesla: 5,566,098 shares (about $1.44B)
Microsoft: 2,858,791 shares (about $1.07B)
Amazon.com: 5,029,819 shares (about $957.02M)
TESLA INC: 31,789 shares (about $823.84M)

Largest Sales this Quarter

APPLE INC: 40,584 shares (about $901.49M)
MICROSOFT CORP: 16,396 shares (about $615.49M)
META PLATFORMS INC: 9,194 shares (about $529.91M)
BROADCOM INC: 30,320 shares (about $507.65M)
ADVANCED MICRO DEVICES INC: 45,703 shares (about $469.55M)

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	$4,166,787,032	$746,047,717 ▲	21.8%	38,441,050	4.4%	Computer and Technology
MSFT Microsoft	$3,905,398,105	$1,073,038,426 ▲	37.9%	10,404,769	4.1%	Computer and Technology
AAPL Apple	$3,361,040,164	$1,647,134,347 ▲	96.1%	15,131,546	3.5%	Computer and Technology
AMZN Amazon.com	$2,185,896,649	$957,017,130 ▲	77.9%	11,488,472	2.3%	Retail/Wholesale
RY Royal Bank of Canada	$2,095,803,537	$42,547,224 ▲	2.1%	18,638,303	2.2%	Finance
TSLA Tesla	$1,911,285,151	$1,442,511,994 ▲	307.7%	7,374,913	2.0%	Auto/Tires/Trucks
TD Toronto-Dominion Bank	$1,876,213,677	$162,341,816 ▲	9.5%	31,320,826	2.0%	Finance
META Meta Platforms	$1,530,565,269	$418,209,688 ▲	37.6%	2,655,590	1.6%	Computer and Technology
GOOGL Alphabet	$1,511,476,509	$216,342,246 ▼	-12.5%	9,773,927	1.6%	Computer and Technology
AVGO Broadcom	$1,343,093,691	$589,216,199 ▲	78.2%	8,021,810	1.4%	Computer and Technology
BMO Bank of Montreal	$1,243,927,962	$67,910,238 ▼	-5.2%	13,036,781	1.3%	Finance
JPM JPMorgan Chase & Co.	$1,108,415,090	$340,709,708 ▲	44.4%	4,518,740	1.2%	Finance
BNS Bank of Nova Scotia	$1,053,673,907	$170,281,975 ▲	19.3%	22,228,914	1.1%	Finance
GOOG Alphabet	$1,009,983,602	$19,432,363 ▲	2.0%	6,465,084	1.1%	Computer and Technology
BN Brookfield	$995,820,486	$9,245,272 ▼	-0.9%	19,044,117	1.0%	Finance
CM Canadian Imperial Bank of Commerce	$950,764,656	$159,242,673 ▲	20.1%	16,932,211	1.0%	Finance
SHOP Shopify	$870,183,647	$45,373,822 ▲	5.5%	9,180,345	0.9%	Computer and Technology
TESLA INC	$862,950,968	$823,843,724 ▲	2,106.6%	33,298	0.9%	PUT
UNH UnitedHealth Group	$859,518,048	$498,020,493 ▲	137.8%	1,641,177	0.9%	Medical
MFC Manulife Financial	$841,988,926	$6,819,678 ▼	-0.8%	27,031,961	0.9%	Finance
BRK.B Berkshire Hathaway	$825,507,719	$271,568,011 ▲	49.0%	1,549,362	0.9%	Finance
COST Costco Wholesale	$768,113,571	$351,534,895 ▲	84.4%	812,188	0.8%	Retail/Wholesale
HON Honeywell International	$763,441,391	$125,543,693 ▲	19.7%	3,605,394	0.8%	Multi-Sector Conglomerates
CNI Canadian National Railway	$736,275,661	$17,326,941 ▼	-2.3%	7,579,624	0.8%	Transportation
APPLE INC	$668,433,596	$901,492,392 ▼	-57.4%	30,092	0.7%	CALL
HD Home Depot	$662,738,441	$391,212,222 ▲	144.1%	1,808,369	0.7%	Retail/Wholesale
CRM Salesforce	$586,323,837	$216,962,096 ▲	58.7%	2,184,827	0.6%	Computer and Technology
NVIDIA CORPORATION	$577,329,422	$418,173,392 ▼	-42.0%	53,269	0.6%	PUT
ENB Enbridge	$576,542,531	$273,056,574 ▼	-32.1%	13,057,617	0.6%	Energy
CP Canadian Pacific Kansas City	$570,084,756	$21,865,580 ▼	-3.7%	8,137,330	0.6%	Transportation
BKNG Booking	$546,136,273	$72,843,968 ▲	15.4%	118,548	0.6%	Retail/Wholesale
WCN Waste Connections	$541,369,182	$26,557,900 ▼	-4.7%	2,802,174	0.6%	Business Services
BAC Bank of America	$533,117,099	$76,381,559 ▲	16.7%	12,775,062	0.6%	Finance
CNQ Canadian Natural Resources	$517,900,566	$80,900,485 ▲	18.5%	16,841,078	0.5%	Energy
V Visa	$504,170,293	$285,892,979 ▲	131.0%	1,438,767	0.5%	Business Services
MA Mastercard	$501,830,200	$178,555,200 ▲	55.2%	915,668	0.5%	Business Services
BCE BCE	$497,101,782	$91,214,180 ▲	22.5%	21,680,890	0.5%	Utilities
TRP TC Energy	$483,661,099	$13,925,903 ▼	-2.8%	10,259,098	0.5%	Energy
AEM Agnico Eagle Mines	$466,798,964	$32,623,294 ▲	7.5%	4,315,394	0.5%	Basic Materials
WMT Walmart	$442,800,386	$159,818,542 ▲	56.5%	5,043,482	0.5%	Retail/Wholesale
PEP PepsiCo	$437,288,660	$173,014,489 ▲	65.5%	2,916,461	0.5%	Consumer Staples
LLY Eli Lilly and Company	$429,707,057	$57,640,850 ▼	-11.8%	520,330	0.4%	Medical
TU TELUS	$428,136,129	$44,476,240 ▲	11.6%	29,864,269	0.4%	Utilities
CCI Crown Castle	$416,495,650	$187,396,459 ▼	-31.0%	3,995,929	0.4%	Finance
NKE NIKE	$416,094,201	$300,945,640 ▲	261.4%	6,554,637	0.4%	Consumer Discretionary
SPDR S&P 500 ETF TR	$391,908,634	$372,497,801 ▲	1,919.0%	7,006	0.4%	PUT
CTSH Cognizant Technology Solutions	$382,943,828	$48,056,149 ▼	-11.1%	5,005,802	0.4%	Computer and Technology
PG Procter & Gamble	$381,920,129	$45,915,815 ▲	13.7%	2,241,099	0.4%	Consumer Staples
CSCO Cisco Systems	$378,003,266	$92,437,173 ▼	-19.6%	6,125,754	0.4%	Computer and Technology
NFLX Netflix	$359,158,952	$160,074,421 ▲	80.4%	385,158	0.4%	Consumer Discretionary
TSM Taiwan Semiconductor Manufacturing	$358,296,070	$166,104,407 ▲	86.4%	2,158,518	0.4%	Computer and Technology
MU Micron Technology	$354,077,217	$359,227,679 ▼	-50.4%	4,075,029	0.4%	Computer and Technology
APPLE INC	$341,058,402	$330,884,848 ▲	3,252.4%	15,354	0.4%	PUT
PM Philip Morris International	$339,402,048	$100,117,268 ▲	41.8%	2,138,237	0.4%	Consumer Staples
WFC Wells Fargo & Company	$328,525,460	$188,143,688 ▲	134.0%	4,576,205	0.3%	Finance
COIN Coinbase Global	$326,440,553	$255,772,274 ▲	361.9%	1,895,383	0.3%	Finance
EQIX Equinix	$321,427,436	$202,790,778 ▲	170.9%	394,223	0.3%	Finance
TRI Thomson Reuters	$316,328,325	$3,106,688 ▼	-1.0%	1,841,955	0.3%	Business Services
FTS Fortis	$311,301,517	$42,795,008 ▲	15.9%	6,851,549	0.3%	Utilities
GIB CGI	$309,957,999	$6,895,167 ▲	2.3%	3,112,721	0.3%	Computer and Technology
JNJ Johnson & Johnson	$308,777,037	$144,418,179 ▼	-31.9%	1,861,828	0.3%	Medical
DOORDASH INC	$305,119,313	$259,124,178 ▲	563.4%	1,669,418	0.3%	CL A
AMAZON COM INC	$298,327,680	$123,250,428 ▲	70.4%	15,680	0.3%	PUT
SPY SPDR S&P 500 ETF Trust	$293,615,036	$8,911,915 ▲	3.1%	525,033	0.3%	Finance
SLF Sun Life Financial	$293,043,549	$26,987,387 ▼	-8.4%	5,129,117	0.3%	Finance
MRK Merck & Co., Inc.	$291,665,160	$120,925,929 ▼	-29.3%	3,249,992	0.3%	Medical
MICROSOFT CORP	$283,419,450	$393,596,415 ▼	-58.1%	7,550	0.3%	PUT
INTC Intel	$282,060,478	$60,267,179 ▼	-17.6%	12,420,125	0.3%	Computer and Technology
WPM Wheaton Precious Metals	$281,020,691	$8,875,336 ▼	-3.1%	3,647,653	0.3%	Basic Materials
SU Suncor Energy	$280,357,119	$391,996,840 ▼	-58.3%	7,251,569	0.3%	Energy
KO Coca-Cola	$278,003,242	$55,565,254 ▼	-16.7%	3,881,716	0.3%	Consumer Staples
DOORDASH INC	$274,155,000	$241,640,217 ▲	743.2%	15,000	0.3%	PUT
PGR Progressive	$271,642,681	$14,446,357 ▲	5.6%	959,808	0.3%	Finance
IEFA iShares Core MSCI EAFE ETF	$265,437,789	$200,529,546 ▲	308.9%	3,509,149	0.3%	ETF
ABBV AbbVie	$263,656,127	$36,345,005 ▼	-12.1%	1,258,353	0.3%	Medical
QSR Restaurant Brands International	$263,173,441	$16,722,791 ▲	6.8%	3,971,981	0.3%	Retail/Wholesale
ADI Analog Devices	$255,199,716	$87,903,581 ▲	52.5%	1,265,440	0.3%	Computer and Technology
FNV Franco-Nevada	$251,783,877	$5,087,725 ▲	2.1%	1,602,784	0.3%	Basic Materials
HPE Hewlett Packard Enterprise	$251,191,647	$234,093,242 ▲	1,369.1%	16,279,442	0.3%	Computer and Technology
INTU Intuit	$251,124,231	$107,377,935 ▲	74.7%	409,005	0.3%	Computer and Technology
T AT&T	$250,432,794	$81,146,418 ▲	47.9%	8,854,926	0.3%	Computer and Technology
PFE Pfizer	$247,415,618	$45,508,726 ▼	-15.5%	9,764,443	0.3%	Medical
TMO Thermo Fisher Scientific	$247,332,330	$64,175,297 ▲	35.0%	497,048	0.3%	Medical
RCI Rogers Communications	$241,818,460	$47,007,392 ▲	24.1%	9,065,686	0.3%	Consumer Discretionary
PBA Pembina Pipeline	$237,932,330	$36,682,535 ▲	18.2%	5,953,871	0.2%	Energy
IBN ICICI Bank	$236,113,168	$96,394,464 ▲	69.0%	7,490,900	0.2%	Finance
TAIWAN SEMICONDUCTOR MFG LTD	$232,400,000	$214,339,200 ▲	1,186.8%	14,000	0.2%	PUT
HDB HDFC Bank	$231,421,734	$103,746,267 ▲	81.3%	3,483,173	0.2%	Finance
COINBASE GLOBAL INC	$230,943,207	$162,051,207 ▲	235.2%	13,409	0.2%	PUT
GS The Goldman Sachs Group	$228,637,973	$63,182,736 ▲	38.2%	418,558	0.2%	Finance
NTR Nutrien	$228,412,053	$6,856,106 ▼	-2.9%	4,617,710	0.2%	Basic Materials
XOM Exxon Mobil	$225,090,169	$122,760,206 ▼	-35.3%	1,892,652	0.2%	Energy
IEI iShares 3-7 Year Treasury Bond ETF	$223,585,501	$80,481,544 ▲	56.2%	1,892,895	0.2%	ETF
ORCL Oracle	$221,896,466	$100,201,911 ▲	82.3%	1,586,824	0.2%	Computer and Technology
SHW Sherwin-Williams	$214,882,680	$148,662,673 ▲	224.5%	615,375	0.2%	Basic Materials
MICRON TECHNOLOGY INC	$214,679,123	$266,118,003 ▼	-55.3%	24,707	0.2%	PUT
MSTR Strategy	$214,670,399	$308,823,926 ▼	-59.0%	744,688	0.2%	Computer and Technology
DIS Walt Disney	$213,605,281	$71,608,318 ▲	50.4%	2,164,295	0.2%	Consumer Discretionary
C Citigroup	$205,334,437	$134,392,744 ▲	189.4%	2,892,391	0.2%	Finance
MICROSTRATEGY INC	$201,789,000	$337,592,997 ▼	-62.6%	7,000	0.2%	PUT

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

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

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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