BANK OF NOVA SCOTIA

TORONTO, A6 · CIK 9631 · 13F filing filed 2024-02-12

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

Legal entityTHE BANK OF NOVA SCOTIA (CA)

Other 13F filers in this group: SCOTIA CAPITAL INC. $26.8bn, SCOTIA CAPITAL (USA) INC files a notice, Scotia Administradora General De Fondos Chile S.A. files a notice

$53.3bn reported value +40.6% vs Q3 2023

952positions

32.6%in top 10

103 new 529 added 297 reduced 123 sold out vs Q3 2023

Options: 1 call positions ($127.6k notional), 43 put positions ($17.4m notional) – listed below, not included above.

This report includes the holdings of 5 other managers that share the investment decisions:

Bank of Nova Scotia Trust Co (Bahamas) Ltd – reports through this filing
Profuturo AFP S.A. – reports through this filing
SCOTIA CAPITAL (USA) INC – reports through this filing
Scotia Fondos, S.A. de C.V., Sociedad Operadora de Fondos de Inversion, Grupo Financiero Scotiabank Inverlat – reports through this filing
Tangerine Investment Management Inc. – reports through this filing

Also in the report of:

SCOTIA CAPITAL INC. – $12.8bn of shares are in both reports
BANK OF NOVA SCOTIA TRUST CO
JARISLOWSKY, FRASER Ltd

Shares in two reports are counted once in each security's totals.

Holdings, Q4 2023

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	ROYAL BK CDA COM RY	RY	28,024,917	$2.8bn5.32%	5.32%	Added +1.4m	+1,357,956 5.1%
2	APPLE INC COM AAPL	AAPL	12,985,867	$2.5bn4.69%	4.69%	Added +6.7m	+6,687,446 106.2%
3	MICROSOFT CORP COM MSFT	MSFT	5,834,429	$2.2bn4.11%	4.11%	Added +2.6m	+2,553,412 77.8%
4	TORONTO DOMINION BK ONT COM NEW TD	TD	33,335,463	$2.2bn4.04%	4.04%	Added +105.8k	+105,772 0.3%
5	NVIDIA CORPORATION COM NVDA	NVDA	3,809,650	$1.9bn3.54%	3.54%	Added +1.6m	+1,555,648 69.0%
6	BANK MONTREAL QUE COM BMO	BMO	13,927,691	$1.4bn2.59%	2.59%	Reduced -856.3k	-856,277 -5.8%
7	CANADIAN IMPERIAL BANK OF CO COM CM	CM	24,915,095	$1.2bn2.25%	2.25%	Added +1.9m	+1,872,709 8.1%
8	TC ENERGY CORP COM TRP	TRP	28,980,334	$1.1bn2.12%	2.12%	Added +3.5m	+3,497,666 13.7%
9	ENBRIDGE INC COM ENB	ENB	29,995,342	$1.1bn2.03%	2.03%	Added +1.9m	+1,910,302 6.8%
10	BROADCOM INC COM AVGO	AVGO	935,522	$1.0bn1.96%	1.96%	Added +636.7k	+636,728 213.1%
11	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	2,185,535	$1.0bn1.95%	1.95%	Reduced -148.3k	-148,284 -6.3%
12	CANADIAN NAT RES LTD COM CNQ	CNQ	12,882,452	$844.0m1.58%	1.58%	Reduced -3.9m	-3,855,811 -23.0%
13	BROOKFIELD CORP CL A LTD VT SH BN	BN	17,525,756	$703.4m1.32%	1.32%	Reduced -2.8m	-2,786,730 -13.7%
14	AMAZON COM INC COM AMZN	AMZN	4,085,799	$620.7m1.16%	1.16%	Added +1.4m	+1,367,006 50.3%
15	ALPHABET INC CAP STK CL A GOOGL	GOOGL	4,419,709	$617.4m1.16%	1.16%	Added +1.7m	+1,677,515 61.2%
16	CANADIAN PACIFIC KANSAS CITY COM CP	CP	7,492,118	$592.8m1.11%	1.11%	Reduced -813.1k	-813,056 -9.8%
17	META PLATFORMS INC CL A META	META	1,651,386	$584.5m1.10%	1.10%	Added +1.1m	+1,054,876 176.8%
18	BCE INC COM NEW BCE	BCE	14,643,014	$576.5m1.08%	1.08%	Reduced -555.0k	-555,050 -3.6%
19	SHOPIFY INC CL A SUB VTG SHS SHOP	SHOP	7,337,219	$571.4m1.07%	1.07%	Added +2.2m	+2,196,956 42.7%
20	ISHARES TR CORE S&P500 ETF IVV	IVV	1,193,203	$569.9m1.07%	1.07%	Added +1.2m	+1,165,438 4197.5%
21	SELECT SECTOR SPDR TR FINANCIAL XLF	XLF	15,055,102	$566.1m1.06%	1.06%	Reduced -189.7k	-189,654 -1.2%
22	CANADIAN NATL RY CO COM CNI	CNI	4,451,717	$559.6m1.05%	1.05%	Reduced -1.0m	-1,000,985 -18.4%
23	SUNCOR ENERGY INC NEW COM SU	SU	17,315,168	$554.7m1.04%	1.04%	Added +356.6k	+356,567 2.1%
24	JPMORGAN CHASE & CO COM JPM	JPM	3,009,958	$512.0m0.96%	0.96%	Added +2.3m	+2,330,360 342.9%
25	PEMBINA PIPELINE CORP COM PBA	PBA	14,837,544	$510.9m0.96%	0.96%	Added +172.0k	+171,960 1.2%
26	MANULIFE FINL CORP COM MFC	MFC	21,232,150	$469.2m0.88%	0.88%	Reduced -2.7m	-2,720,015 -11.4%
27	ALPHABET INC CAP STK CL C GOOG	GOOG	3,010,577	$424.2m0.80%	0.80%	Added +1.5m	+1,527,598 103.0%
28	SUN LIFE FINANCIAL INC. COM SLF	SLF	8,041,990	$417.1m0.78%	0.78%	Reduced -1.9m	-1,883,918 -19.0%
29	TELUS CORPORATION COM TU	TU	22,881,520	$407.2m0.76%	0.76%	Added +1.3m	+1,250,827 5.8%
30	COSTCO WHSL CORP NEW COM COST	COST	553,972	$365.6m0.69%	0.69%	Added +352.9k	+352,915 175.5%
31	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	883,673	$361.9m0.68%	0.68%	Added +863.3k	+863,317 4241.1%
32	NUTRIEN LTD COM NTR	NTR	6,134,082	$345.6m0.65%	0.65%	Reduced -37.8k	-37,756 -0.6%
33	MERCK & CO INC COM MRK	MRK	3,144,632	$342.8m0.64%	0.64%	Added +2.4m	+2,449,211 352.2%
34	INTEL CORP COM INTC	INTC	6,596,885	$331.5m0.62%	0.62%	Added +3.7m	+3,682,252 126.3%
35	QUALCOMM INC COM QCOM	QCOM	2,185,699	$316.1m0.59%	0.59%	Added +688.7k	+688,714 46.0%
36	UNITEDHEALTH GROUP INC COM UNH	UNH	579,571	$305.1m0.57%	0.57%	Added +128.6k	+128,578 28.5%
37	FORTIS INC COM FTS	FTS	7,242,796	$298.0m0.56%	0.56%	Added +215.9k	+215,897 3.1%
38	ELI LILLY & CO COM LLY	LLY	500,427	$291.7m0.55%	0.55%	Added +228.3k	+228,341 83.9%
39	PALO ALTO NETWORKS INC NOTE 0.375% 6/0 · principal PANW 0.375 06.01.25 · principal	PANW 0.375 06.01.25	91,211,000	$271.0m0.51%	0.51%	Added +59.9m	+59,913,000 191.4%
40	BANK AMERICA CORP COM BAC	BAC	7,923,693	$266.8m0.50%	0.50%	Added +4.1m	+4,139,781 109.4%
41	DISNEY WALT CO COM DIS	DIS	2,772,016	$250.3m0.47%	0.47%	Added +1.2m	+1,241,327 81.1%
42	BARRICK GOLD CORP COM COM		13,720,285	$248.0m0.47%	0.47%	Reduced -1.5m	-1,529,563 -10.0%
43	WASTE CONNECTIONS INC COM WCN	WCN	1,526,637	$228.0m0.43%	0.43%	Reduced -381.0k	-381,039 -20.0%
44	PFIZER INC COM PFE	PFE	7,840,192	$225.7m0.42%	0.42%	Added +2.3m	+2,336,209 42.5%
45	ROGERS COMMUNICATIONS INC CL B RCI	RCI	4,796,277	$224.5m0.42%	0.42%	Reduced -19.6k	-19,605 -0.4%
46	RESTAURANT BRANDS INTL INC COM QSR	QSR	2,811,985	$219.7m0.41%	0.41%	Reduced -423.0k	-423,015 -13.1%
47	CENOVUS ENERGY INC COM CVE	CVE	13,127,386	$218.8m0.41%	0.41%	Reduced -2.3m	-2,254,791 -14.7%
48	HYATT HOTELS CORP COM CL A H	H	1,672,454	$218.1m0.41%	0.41%	Added +9.9k	+9,919 0.6%
49	WELLS FARGO CO NEW COM WFC	WFC	4,429,276	$218.0m0.41%	0.41%	Added +1.4m	+1,366,447 44.6%
50	MCDONALDS CORP COM MCD	MCD	724,598	$214.8m0.40%	0.40%	Added +525.8k	+525,824 264.5%
51	WALMART INC COM WMT	WMT	1,326,851	$209.2m0.39%	0.39%	Added +718.3k	+718,340 118.0%
52	STARBUCKS CORP COM SBUX	SBUX	2,160,737	$207.4m0.39%	0.39%	Added +1.7m	+1,672,656 342.7%
53	AGNICO EAGLE MINES LTD COM AEM	AEM	3,529,346	$193.5m0.36%	0.36%	Reduced -708.0k	-707,955 -16.7%
54	MASTERCARD INCORPORATED CL A MA	MA	452,595	$193.0m0.36%	0.36%	Added +279.6k	+279,568 161.6%
55	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	532,718	$190.0m0.36%	0.36%	Added +292.6k	+292,641 121.9%
56	DOLLAR TREE INC COM DLTR	DLTR	1,324,724	$188.2m0.35%	0.35%	Added +236.5k	+236,546 21.7%
57	SALESFORCE INC COM CRM	CRM	712,548	$187.5m0.35%	0.35%	Added +502.0k	+501,995 238.4%
58	CITIGROUP INC COM NEW C	C	3,587,361	$184.5m0.35%	0.35%	Added +2.5m	+2,511,394 233.4%
59	COCA COLA CO COM KO	KO	3,006,780	$177.2m0.33%	0.33%	Reduced -693.8k	-693,842 -18.8%
60	CHUBB LIMITED COM CB	CB	779,345	$176.1m0.33%	0.33%	Added +518.5k	+518,535 198.8%
61	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	330,529	$175.4m0.33%	0.33%	Added +121.2k	+121,219 57.9%
62	ABBVIE INC COM ABBV	ABBV	1,118,303	$173.3m0.33%	0.33%	Added +118.4k	+118,379 11.8%
63	THOMSON REUTERS CORP COM COM		1,155,669	$169.0m0.32%	0.32%	Reduced -234.3k	-234,262 -16.9%
64	CAMECO CORP COM CCJ	CCJ	3,909,958	$168.6m0.32%	0.32%	Reduced -641.8k	-641,818 -14.1%
65	GOLDMAN SACHS GROUP INC COM GS	GS	427,640	$165.0m0.31%	0.31%	Added +298.5k	+298,479 231.1%
66	NETFLIX INC COM NFLX	NFLX	331,424	$161.4m0.30%	0.30%	Added +32.9k	+32,854 11.0%
67	WHEATON PRECIOUS METALS CORP COM WPM	WPM	3,211,254	$158.4m0.30%	0.30%	Reduced -676.0k	-676,024 -17.4%
68	ADVANCED MICRO DEVICES INC COM AMD	AMD	1,052,237	$155.1m0.29%	0.29%	Reduced -59.6k	-59,633 -5.4%
69	FRANCO NEV CORP COM FNV	FNV	1,379,887	$152.9m0.29%	0.29%	Reduced -286.8k	-286,757 -17.2%
70	COGNIZANT TECHNOLOGY SOLUTIO CL A CTSH	CTSH	2,000,658	$151.1m0.28%	0.28%	Added +805.9k	+805,888 67.5%
71	CGI INC CL A SUB VTG GIB	GIB	1,398,084	$149.8m0.28%	0.28%	Reduced -6.5k	-6,532 -0.5%
72	ISHARES TR MSCI ACWI ETF ACWI	ACWI	1,460,745	$148.7m0.28%	0.28%	Reduced -51.1k	-51,069 -3.4%
73	MAGNA INTL INC COM MGA	MGA	2,483,411	$146.7m0.28%	0.28%	Reduced -184.2k	-184,166 -6.9%
74	CREDICORP LTD COM BAP	BAP	972,995	$145.9m0.27%	0.27%	Added +74.2k	+74,152 8.2%
75	FIDELITY NATL INFORMATION SV COM FIS	FIS	2,418,198	$145.3m0.27%	0.27%	Added +1.6m	+1,605,425 197.5%
76	ISHARES TR SHORT TREAS BD SHV	SHV	1,310,234	$144.2m0.27%	0.27%	Added +298.5k	+298,508 29.5%
77	BROOKFIELD ASSET MANAGMT LTD CL A LMT VTG SHS BAM	BAM	3,579,553	$143.7m0.27%	0.27%	Reduced -989.0k	-989,050 -21.6%
78	TECK RESOURCES LTD CL B TECK	TECK	3,339,959	$141.2m0.26%	0.26%	Reduced -679.0k	-678,973 -16.9%
79	COMPANIA DE MINAS BUENAVENTU SPONSORED ADR BVN	BVN	9,016,211	$137.4m0.26%	0.26%	Reduced -2.6m	-2,588,038 -22.3%
80	PAYPAL HLDGS INC COM PYPL	PYPL	2,197,105	$134.9m0.25%	0.25%	Added +1.8m	+1,793,081 443.8%
81	VERIZON COMMUNICATIONS INC COM VZ	VZ	3,544,906	$133.6m0.25%	0.25%	Added +1.3m	+1,295,919 57.6%
82	ANTERO RESOURCES CORP NOTE 4.250% 9/0 · principal AR 4.25 09.01.26 · principal	AR 4.25 09.01.26	24,733,000	$129.4m0.24%	0.24%	Added +250.0k	+250,000 1.0%
83	MICRON TECHNOLOGY INC COM MU	MU	1,515,586	$129.3m0.24%	0.24%	Added +1.4m	+1,405,055 1271.2%
84	COMCAST CORP NEW CL A CMCSA	CMCSA	2,948,805	$129.3m0.24%	0.24%	Added +383.7k	+383,714 15.0%
85	PROCTER AND GAMBLE CO COM PG	PG	881,774	$129.2m0.24%	0.24%	Added +477.8k	+477,795 118.3%
86	ISHARES INC MSCI BRAZIL ETF EWZ	EWZ	3,552,853	$124.2m0.23%	0.23%	Added +2.8m	+2,818,566 383.9%
87	ILLUMINA INC COM ILMN	ILMN	883,920	$123.1m0.23%	0.23%	Added +41.9k	+41,938 5.0%
88	APPLIED MATLS INC COM AMAT	AMAT	748,720	$121.3m0.23%	0.23%	Added +462.1k	+462,104 161.2%
89	BROOKFIELD INFRAST PARTNERS LP INT UNIT BIP	BIP	3,805,482	$119.9m0.22%	0.22%	Reduced -472.9k	-472,929 -11.1%
90	TESLA INC NOTE 2.000% 5/1 · principal TSLA 2 05.15.24 · principal	TSLA 2 05.15.24	9,556,461	$114.8m0.22%	0.22%	Added +9.5m	+9,480,984 12561.4%
91	EXXON MOBIL CORP COM XOM	XOM	1,134,970	$113.5m0.21%	0.21%	Reduced -155.7k	-155,660 -12.1%
92	HOME DEPOT INC COM HD	HD	327,461	$113.5m0.21%	0.21%	Added +68.7k	+68,735 26.6%
93	AMERICAN EXPRESS CO COM AXP	AXP	602,726	$112.9m0.21%	0.21%	Added +546.4k	+546,389 969.9%
94	PHILIP MORRIS INTL INC COM PM	PM	1,186,082	$111.6m0.21%	0.21%	Added +876.8k	+876,790 283.5%
95	GE AEROSPACE COM NEW GE	GE	870,092	$111.0m0.21%	0.21%	Added +355.0k	+354,993 68.9%
96	PROGRESSIVE CORP COM PGR	PGR	681,248	$108.5m0.20%	0.20%	Added +228.4k	+228,382 50.4%
97	ISHARES TR MSCI EAFE ETF EFA	EFA	1,382,472	$104.2m0.20%	0.20%	Reduced -228.0k	-228,016 -14.2%
98	ADOBE INC COM ADBE	ADBE	173,501	$103.5m0.19%	0.19%	Reduced -164.9k	-164,895 -48.7%
99	ISHARES INC MSCI MEXICO ETF EWW	EWW	1,518,800	$103.1m0.19%	0.19%	New
100	ANALOG DEVICES INC COM ADI	ADI	517,305	$102.7m0.19%	0.19%	Added +465.4k	+465,416 897.0%

Sold out since Q3 2023

Security	Ticker	Shares held before	Value then
ISHARES TR EMB	EMB	2,154,433	$177.8m2.2m shares
ON SEMICONDUCTOR CORP ON 1.625 10.15.23	ON 1.625 10.15.23	30,838,000	$138.4m30.8m shares
ACTIVISION BLIZZARD INC ATVI	ATVI	1,444,834	$135.3m1.4m shares
ISHARES TR TLT	TLT	789,000	$70.0m789.0k shares
KBR INC KBR 2.5 11.01.23	KBR 2.5 11.01.23	26,681,000	$62.8m26.7m shares
NATIONAL INSTRS CORP		1,026,128	$61.2m1.0m shares
MERCADOLIBRE INC MELI 2 08.15.28	MELI 2 08.15.28	20,312,000	$59.3m20.3m shares
WISDOMTREE TR DXJ	DXJ	575,600	$50.8m575.6k shares
ISHARES TR ICVT	ICVT	652,400	$48.4m652.4k shares
ISHARES TR LQD	LQD	456,207	$46.5m456.2k shares
HORIZON THERAPEUTICS PUB L HZNP	HZNP	297,009	$34.4m297.0k shares
PIMCO ETF TR CORP	CORP	185,655	$16.9m185.7k shares
SPDR SER TR BIL	BIL	174,879	$16.1m174.9k shares
MIDDLEBY CORP MIDD	MIDD	121,196	$15.5m121.2k shares
SEAGEN INC SGEN	SGEN	70,469	$14.9m70.5k shares
ROIVANT SCIENCES LTD ROIV	ROIV	978,315	$11.4m978.3k shares
WISDOMTREE TR USFR	USFR	196,863	$9.9m196.9k shares
SPDR SER TR XOP	XOP	58,900	$8.7m58.9k shares
ROYAL CARIBBEAN GROUP RCL 6 08.15.25	RCL 6 08.15.25	4,000,000	$7.9m4.0m shares
AZENTA INC AZTA	AZTA	156,912	$7.9m156.9k shares
AENZA S.A.A		3,025,568	$7.8m3.0m shares
LINCOLN NATL CORP IND LNC	LNC	294,206	$7.3m294.2k shares
NETEASE INC NTES	NTES	70,143	$7.0m70.1k shares
WESTERN ALLIANCE BANCORP WAL	WAL	147,129	$6.8m147.1k shares
VANECK ETF TRUST OIH	OIH	18,450	$6.4m18.4k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
CITIGROUP INC C · Put	C	Put	54,120	$2.8m54.1k shares	Added
BANK AMERICA CORP BAC · Put	BAC	Put	49,566	$1.7m49.6k shares	Added
MICROSOFT CORP MSFT · Put	MSFT	Put	4,050	$1.5m4.0k shares	New
APPLE INC AAPL · Put	AAPL	Put	7,001	$1.3m7.0k shares	Added
NVIDIA CORPORATION NVDA · Put	NVDA	Put	1,979	$980.0k2.0k shares	Added
AMAZON COM INC AMZN · Put	AMZN	Put	6,300	$957.2k6.3k shares	Added
MORGAN STANLEY MS · Put	MS	Put	8,900	$829.9k8.9k shares	Added
TESLA INC TSLA · Put	TSLA	Put	3,000	$745.4k3.0k shares	Added
ADVANCED MICRO DEVICES INC AMD · Put	AMD	Put	4,909	$723.6k4.9k shares	Added
ALPHABET INC GOOGL · Put	GOOGL	Put	4,000	$558.8k4.0k shares	New
WELLS FARGO CO NEW WFC · Put	WFC	Put	10,165	$500.3k10.2k shares	Added
VERIZON COMMUNICATIONS INC VZ · Put	VZ	Put	12,000	$452.4k12.0k shares	Added
ALPHABET INC GOOG · Put	GOOG	Put	3,000	$422.8k3.0k shares	New
DISNEY WALT CO DIS · Put	DIS	Put	4,500	$406.3k4.5k shares	New
QUALCOMM INC QCOM · Put	QCOM	Put	2,500	$361.6k2.5k shares	New
INVESCO QQQ TR QQQ · Put	QQQ	Put	780	$319.4k780 shares	Added
VANECK ETF TRUST GDX · Put	GDX	Put	9,800	$303.9k9.8k shares	Unchanged
JPMORGAN CHASE & CO JPM · Put	JPM	Put	1,544	$262.6k1.5k shares	Added
INTEL CORP INTC · Put	INTC	Put	5,000	$251.2k5.0k shares	New
META PLATFORMS INC META · Put	META	Put	704	$249.2k704 shares	New
PALO ALTO NETWORKS INC PANW · Put	PANW	Put	750	$221.2k750 shares	New
NETFLIX INC NFLX · Put	NFLX	Put	400	$194.8k400 shares	New
UNITED AIRLS HLDGS INC UAL · Put	UAL	Put	4,650	$191.9k4.7k shares	Added
COCA COLA CO KO · Put	KO	Put	2,750	$162.1k2.8k shares	New
AMGEN INC AMGN · Put	AMGN	Put	500	$144.0k500 shares	New

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
KEYCORP KEY · 13D · filed 2025-01-06	KEY	14.9%≈ $3.8bn	new	13D	2025-01-06
JELD-WEN HLDG INC JELD · 13G · filed 2026-10-19	JELD	5.8%≈ $7.5m	+2.4 pts	13G	2026-10-19
SABLE OFFSHORE CORP SOC · 13G · filed 2026-10-19	SOC	5.5%≈ $34.0m	new	13G	2026-10-19
VOYAGER TECHNOLOGIES INC VOYG · 13G · filed 2026-10-19	VOYG	5.0%≈ $93.2m	-1.4 pts	13G	2026-10-19