BANK OF NOVA SCOTIA

TORONTO, A6 · CIK 9631 · 13F filing filed 2025-11-14

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

$56.5bn reported value +15.8% vs Q2 2025

963positions

37.2%in top 10

100 new 541 added 291 reduced 68 sold out vs Q2 2025

Options: 0 call positions (— notional), 83 put positions ($89.2m 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 Administradora General De Fondos Chile S.A. – 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

Also in the report of:

SCOTIA CAPITAL INC. – $17.8bn 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, Q3 2025

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	NVIDIA CORPORATION COM NVDA	NVDA	19,870,763	$3.7bn6.56%	6.56%	Added +1.5m	+1,486,006 8.1%
2	APPLE INC COM AAPL	AAPL	14,123,137	$3.6bn6.36%	6.36%	Added +1.2m	+1,249,918 9.7%
3	KEYCORP COM KEY	KEY	162,967,411	$3.0bn5.39%	5.39%	Added +13.6k	+13,589 0.0%
4	ROYAL BK CDA COM RY	RY	14,994,943	$2.2bn3.91%	3.91%	Reduced -1.6m	-1,602,202 -9.7%
5	MICROSOFT CORP COM MSFT	MSFT	3,786,996	$2.0bn3.47%	3.47%	Reduced -321.6k	-321,606 -7.8%
6	TORONTO DOMINION BK ONT COM NEW TD	TD	18,252,231	$1.5bn2.58%	2.58%	Reduced -3.3m	-3,256,242 -15.1%
7	ISHARES TR CORE S&P500 ETF IVV	IVV	2,034,092	$1.4bn2.41%	2.41%	Added +867.9k	+867,865 74.4%
8	ALPHABET INC CAP STK CL C GOOG	GOOG	5,136,458	$1.3bn2.21%	2.21%	Added +140.7k	+140,684 2.8%
9	AMAZON COM INC COM AMZN	AMZN	5,601,729	$1.2bn2.18%	2.18%	Added +711.6k	+711,621 14.6%
10	CANADIAN IMPERIAL BANK OF CO COM CM	CM	15,296,767	$1.2bn2.16%	2.16%	Reduced -1.3m	-1,311,455 -7.9%
11	BROADCOM INC COM AVGO	AVGO	2,846,611	$939.1m1.66%	1.66%	Added +211.4k	+211,367 8.0%
12	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	1,315,026	$876.0m1.55%	1.55%	Reduced -47.6k	-47,642 -3.5%
13	BANK MONTREAL QUE COM BMO	BMO	6,373,601	$830.6m1.47%	1.47%	Reduced -1.2m	-1,248,285 -16.4%
14	BROOKFIELD CORP CL A LTD VT SH BN	BN	12,058,881	$826.5m1.46%	1.46%	Reduced -1.2m	-1,204,304 -9.1%
15	META PLATFORMS INC CL A META	META	1,097,984	$806.3m1.43%	1.43%	Added +125.6k	+125,646 12.9%
16	ALPHABET INC CAP STK CL A GOOGL	GOOGL	3,268,862	$794.7m1.41%	1.41%	Reduced -5.0m	-5,017,121 -60.5%
17	JPMORGAN CHASE & CO COM JPM	JPM	2,316,567	$730.7m1.29%	1.29%	Added +915.7k	+915,742 65.4%
18	SHOPIFY INC CL A SUB VTG SHS SHOP	SHOP	4,574,057	$679.7m1.20%	1.20%	Added +910.7k	+910,706 24.9%
19	TC ENERGY CORP COM TRP	TRP	11,370,589	$618.2m1.09%	1.09%	Reduced -5.5m	-5,460,982 -32.4%
20	TESLA INC COM TSLA	TSLA	1,386,162	$616.5m1.09%	1.09%	Added +644.2k	+644,164 86.8%
21	ENBRIDGE INC COM ENB	ENB	9,526,380	$480.5m0.85%	0.85%	Added +5.2m	+5,157,030 118.0%
22	MANULIFE FINL CORP COM MFC	MFC	13,301,099	$414.5m0.73%	0.73%	Reduced -701.1k	-701,069 -5.0%
23	UNITEDHEALTH GROUP INC COM UNH	UNH	1,118,454	$386.2m0.68%	0.68%	Reduced -296.5k	-296,480 -20.9%
24	AGNICO EAGLE MINES LTD COM AEM	AEM	2,069,884	$348.5m0.62%	0.62%	Reduced -98.5k	-98,496 -4.5%
25	BCE INC COM NEW BCE	BCE	14,886,360	$347.9m0.62%	0.62%	Reduced -1.9m	-1,897,980 -11.3%
26	JOHNSON & JOHNSON COM JNJ	JNJ	1,625,531	$301.4m0.53%	0.53%	Added +846.9k	+846,888 108.8%
27	ROGERS COMMUNICATIONS INC CL B RCI	RCI	8,465,953	$291.5m0.52%	0.52%	Added +186.5k	+186,510 2.2%
28	SUN LIFE FINANCIAL INC. COM SLF	SLF	4,713,666	$283.1m0.50%	0.50%	Reduced -1.4m	-1,443,539 -23.4%
29	ADVANCED MICRO DEVICES INC COM AMD	AMD	1,708,448	$276.4m0.49%	0.49%	Added +492.9k	+492,942 40.5%
30	PALANTIR TECHNOLOGIES INC CL A PLTR	PLTR	1,512,200	$275.9m0.49%	0.49%	Added +1.3m	+1,257,378 493.4%
31	CREDICORP LTD COM BAP	BAP	1,030,687	$274.5m0.49%	0.49%	Added +15.3k	+15,278 1.5%
32	INTUITIVE SURGICAL INC COM NEW ISRG	ISRG	602,496	$269.5m0.48%	0.48%	Added +255.0k	+255,005 73.4%
33	MICRON TECHNOLOGY INC COM MU	MU	1,567,573	$262.3m0.46%	0.46%	Added +762.9k	+762,930 94.8%
34	BOSTON SCIENTIFIC CORP COM BSX	BSX	2,674,552	$261.1m0.46%	0.46%	Reduced -351.0k	-350,967 -11.6%
35	PEPSICO INC COM PEP	PEP	1,859,154	$261.1m0.46%	0.46%	Added +310.4k	+310,403 20.0%
36	FORTIS INC COM FTS	FTS	5,035,398	$255.4m0.45%	0.45%	Reduced -790.5k	-790,484 -13.6%
37	ELI LILLY & CO COM LLY	LLY	333,304	$254.3m0.45%	0.45%	Added +85.0k	+85,044 34.3%
38	CANADIAN NATL RY CO COM CNI	CNI	2,685,798	$253.3m0.45%	0.45%	Reduced -88.3k	-88,301 -3.2%
39	VANECK ETF TRUST SEMICONDUCTR ETF SMH	SMH	755,107	$246.4m0.44%	0.44%	Added +752.1k	+752,097 24986.6%
40	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	391,029	$234.8m0.42%	0.42%	Added +389.2k	+389,218 21491.9%
41	SALESFORCE INC COM CRM	CRM	981,490	$232.6m0.41%	0.41%	Added +399.7k	+399,673 68.7%
42	TELUS CORPORATION COM TU	TU	14,738,322	$232.2m0.41%	0.41%	Reduced -5.0m	-5,033,466 -25.5%
43	ADOBE INC COM ADBE	ADBE	632,703	$223.2m0.39%	0.39%	Added +149.0k	+149,031 30.8%
44	HYATT HOTELS CORP COM CL A H	H	1,561,510	$221.6m0.39%	0.39%	Reduced -184.8k	-184,800 -10.6%
45	ORACLE CORP COM ORCL	ORCL	784,391	$220.6m0.39%	0.39%	Added +312.4k	+312,393 66.2%
46	CANADIAN PACIFIC KANSAS CITY COM CP	CP	2,876,404	$214.2m0.38%	0.38%	Reduced -192.6k	-192,555 -6.3%
47	LAM RESEARCH CORP COM NEW LRCX	LRCX	1,585,023	$212.2m0.38%	0.38%	Added +464.5k	+464,511 41.5%
48	NETFLIX INC COM NFLX	NFLX	175,811	$210.8m0.37%	0.37%	Added +33.2k	+33,209 23.3%
49	SUNCOR ENERGY INC NEW COM SU	SU	5,028,399	$210.5m0.37%	0.37%	Added +2.0m	+1,952,444 63.5%
50	CATERPILLAR INC COM CAT	CAT	439,989	$209.9m0.37%	0.37%	Added +26.9k	+26,928 6.5%
51	ISHARES TR MSCI EAFE ETF EFA	EFA	2,240,841	$209.2m0.37%	0.37%	Added +149.9k	+149,919 7.2%
52	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	408,016	$205.1m0.36%	0.36%	Added +127.0k	+127,006 45.2%
53	KINROSS GOLD CORP COM KGC	KGC	8,193,236	$203.3m0.36%	0.36%	Reduced -225.9k	-225,873 -2.7%
54	HONEYWELL INTL INC COM COM		926,815	$195.1m0.35%	0.35%	Added +120.8k	+120,762 15.0%
55	BARRICK MNG CORP COM SHS B	B	5,601,107	$184.1m0.33%	0.33%	Added +1.1m	+1,106,825 24.6%
56	ROBLOX CORP CL A RBLX	RBLX	1,236,715	$171.3m0.30%	0.30%	Added +582.2k	+582,162 88.9%
57	PROCTER AND GAMBLE CO COM PG	PG	1,114,869	$171.3m0.30%	0.30%	Added +212.7k	+212,652 23.6%
58	AKAMAI TECHNOLOGIES INC COM AKAM	AKAM	2,219,353	$168.1m0.30%	0.30%	Reduced -116.1k	-116,137 -5.0%
59	PROGRESSIVE CORP COM PGR	PGR	657,228	$162.3m0.29%	0.29%	Added +274.9k	+274,851 71.9%
60	COSTCO WHSL CORP NEW COM COST	COST	173,637	$160.7m0.28%	0.28%	Reduced -34.4k	-34,403 -16.5%
61	WHEATON PRECIOUS METALS CORP COM WPM	WPM	1,423,448	$159.3m0.28%	0.28%	Added +98.7k	+98,741 7.5%
62	ARISTA NETWORKS INC COM SHS ANET	ANET	1,079,950	$157.4m0.28%	0.28%	Reduced -454.4k	-454,402 -29.6%
63	REGENERON PHARMACEUTICALS COM REGN	REGN	278,551	$156.6m0.28%	0.28%	Added +29.3k	+29,273 11.7%
64	NEWMONT CORP COM NEM	NEM	1,854,245	$156.3m0.28%	0.28%	Added +469.4k	+469,424 33.9%
65	COINBASE GLOBAL INC COM CL A COIN	COIN	457,365	$154.4m0.27%	0.27%	Added +433.3k	+433,289 1799.7%
66	EMERA INC COM EMA	EMA	3,191,698	$153.1m0.27%	0.27%	Reduced -1.4m	-1,376,332 -30.1%
67	SPDR DOW JONES INDL AVERAGE UT SER 1 DIA	DIA	329,943	$153.0m0.27%	0.27%	Added +92.5k	+92,536 39.0%
68	HOME DEPOT INC COM HD	HD	370,373	$150.1m0.27%	0.27%	Added +165.4k	+165,436 80.7%
69	SELECT SECTOR SPDR TR FINANCIAL XLF	XLF	2,747,178	$148.0m0.26%	0.26%	Reduced -2.0m	-2,020,063 -42.4%
70	THE CIGNA GROUP COM CI	CI	500,019	$144.1m0.26%	0.26%	Added +157.8k	+157,772 46.1%
71	COCA COLA CO COM KO	KO	2,170,459	$143.9m0.25%	0.25%	Added +855.0k	+854,953 65.0%
72	NUTRIEN LTD COM NTR	NTR	2,402,476	$141.1m0.25%	0.25%	Reduced -428.0k	-428,042 -15.1%
73	PEMBINA PIPELINE CORP COM PBA	PBA	3,461,021	$139.9m0.25%	0.25%	Reduced -1.2m	-1,229,282 -26.2%
74	FRANCO NEV CORP COM FNV	FNV	608,736	$135.5m0.24%	0.24%	Reduced -16.1k	-16,114 -2.6%
75	KLA CORP COM NEW KLAC	KLAC	125,524	$135.4m0.24%	0.24%	Added +19.5k	+19,540 18.4%
76	MASTERCARD INCORPORATED CL A MA	MA	236,286	$134.4m0.24%	0.24%	Added +81.1k	+81,065 52.2%
77	PHILIP MORRIS INTL INC COM PM	PM	826,367	$134.0m0.24%	0.24%	Reduced -199.2k	-199,239 -19.4%
78	COMPANIA DE MINAS BUENAVENTU SPONSORED ADR BVN	BVN	5,476,160	$133.2m0.24%	0.24%	Reduced -2.0m	-1,994,155 -26.7%
79	INVESCO EXCH TRADED FD TR II NASDAQ 100 ETF QQQM	QQQM	533,537	$131.8m0.23%	0.23%	Reduced -689.4k	-689,353 -56.4%
80	SCHWAB CHARLES CORP COM SCHW	SCHW	1,379,801	$131.7m0.23%	0.23%	Added +111.0k	+111,029 8.8%
81	BROOKFIELD ASSET MANAGMT LTD CL A LMT VTG SHS BAM	BAM	2,280,688	$130.1m0.23%	0.23%	Reduced -121.9k	-121,916 -5.1%
82	AIRBNB INC COM CL A ABNB	ABNB	1,053,942	$128.0m0.23%	0.23%	Added +97.8k	+97,754 10.2%
83	CISCO SYS INC COM CSCO	CSCO	1,832,600	$125.4m0.22%	0.22%	Added +134.3k	+134,293 7.9%
84	CAMECO CORP COM CCJ	CCJ	1,491,977	$125.2m0.22%	0.22%	Reduced -18.6k	-18,626 -1.2%
85	ABBVIE INC COM ABBV	ABBV	523,278	$121.2m0.21%	0.21%	Added +321.2k	+321,177 158.9%
86	S&P GLOBAL INC COM SPGI	SPGI	246,676	$120.1m0.21%	0.21%	Added +81.3k	+81,289 49.1%
87	INVESCO EXCH TRADED FD TR II CHINA TECHNLGY CQQQ	CQQQ	2,030,450	$119.8m0.21%	0.21%	New
88	VISA INC COM CL A V	V	346,694	$118.4m0.21%	0.21%	Added +12.2k	+12,186 3.6%
89	GLOBAL PMTS INC COM GPN	GPN	1,421,289	$118.1m0.21%	0.21%	Reduced -54.3k	-54,293 -3.7%
90	MERCK & CO INC COM MRK	MRK	1,377,185	$115.6m0.20%	0.20%	Reduced -53.6k	-53,617 -3.8%
91	GOLDMAN SACHS GROUP INC COM GS	GS	141,673	$112.8m0.20%	0.20%	Reduced -116.6k	-116,583 -45.1%
92	ISHARES TR RUS 1000 VAL ETF IWD	IWD	540,970	$110.1m0.19%	0.19%	Added +160	+160 0.0%
93	WASTE MGMT INC DEL COM WM	WM	496,242	$109.6m0.19%	0.19%	Added +294.3k	+294,265 145.7%
94	ISHARES TR RUS 1000 GRW ETF IWF	IWF	229,000	$107.3m0.19%	0.19%	Unchanged
95	INTERCONTINENTAL EXCHANGE IN COM ICE	ICE	630,171	$106.2m0.19%	0.19%	Added +31.4k	+31,445 5.2%
96	ROBINHOOD MKTS INC COM CL A HOOD	HOOD	728,492	$104.3m0.18%	0.18%	Added +707.2k	+707,200 3321.4%
97	MAGNA INTL INC COM MGA	MGA	2,190,899	$103.8m0.18%	0.18%	Reduced -41.7k	-41,717 -1.9%
98	MCDONALDS CORP COM MCD	MCD	337,666	$102.6m0.18%	0.18%	Reduced -160.3k	-160,311 -32.2%
99	SELECT SECTOR SPDR TR COMMUNICATION XLC	XLC	860,580	$101.9m0.18%	0.18%	New
100	GE VERNOVA INC COM GEV	GEV	165,059	$101.5m0.18%	0.18%	Added +106.0k	+106,038 179.7%

Sold out since Q2 2025

Security	Ticker	Shares held before	Value then
VANGUARD TAX-MANAGED FDS VEA	VEA	1,294,700	$73.8m1.3m shares
ANSYS INC ANSS	ANSS	186,389	$65.5m186.4k shares
ISHARES INC IEMG	IEMG	1,063,840	$63.9m1.1m shares
DUN & BRADSTREET HLDGS INC DNB	DNB	5,885,505	$53.5m5.9m shares
VANGUARD SCOTTSDALE FDS VCIT	VCIT	618,289	$51.3m618.3k shares
HESS CORP HES	HES	304,896	$42.2m304.9k shares
AZEK CO INC AZEK	AZEK	710,300	$38.6m710.3k shares
INVESCO EXCH TRADED FD TR II SPMO	SPMO	200,000	$22.5m200.0k shares
ISHARES INC EWP	EWP	307,690	$13.5m307.7k shares
AMEDISYS INC AMED	AMED	136,000	$13.4m136.0k shares
BROADSTONE NET LEASE INC BNL	BNL	810,941	$13.0m810.9k shares
DUOLINGO INC DUOL	DUOL	31,696	$13.0m31.7k shares
JUNIPER NETWORKS INC JNPR	JNPR	322,463	$12.9m322.5k shares
SPDR SER TR SPSB	SPSB	425,000	$12.8m425.0k shares
FIRST AMERN FINL CORP FAF	FAF	181,433	$11.1m181.4k shares
SEI INVTS CO SEIC	SEIC	117,000	$10.5m117.0k shares
SIMPSON MFG INC SSD	SSD	66,000	$10.3m66.0k shares
ISHARES INC EWA	EWA	384,800	$10.1m384.8k shares
ISHARES TR IEF	IEF	97,500	$9.3m97.5k shares
BRUKER CORP BRKR	BRKR	218,254	$9.0m218.3k shares
UIPATH INC PATH	PATH	700,000	$9.0m700.0k shares
MASIMO CORP MASI	MASI	53,108	$8.9m53.1k shares
ULTRAGENYX PHARMACEUTICAL IN RARE	RARE	241,985	$8.8m242.0k shares
NUSHARES ETF TR NCLO	NCLO	347,901	$8.7m347.9k shares
ANTERO RESOURCES CORP AR	AR	214,052	$8.6m214.1k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
TESLA INC TSLA · Put	TSLA	Put	44,415	$19.8m44.4k shares	Added
NVIDIA CORPORATION NVDA · Put	NVDA	Put	56,541	$10.5m56.5k shares	Reduced
APPLE INC AAPL · Put	AAPL	Put	40,450	$10.3m40.5k shares	Added
AMAZON COM INC AMZN · Put	AMZN	Put	40,417	$8.9m40.4k shares	Added
SPDR DOW JONES INDL AVERAGE DIA · Put	DIA	Put	8,100	$3.8m8.1k shares	New
INVESCO EXCHANGE TRADED FD T RSP · Put	RSP	Put	18,500	$3.5m18.5k shares	Added
ALPHABET INC GOOG · Put	GOOG	Put	13,000	$3.2m13.0k shares	Reduced
MORGAN STANLEY MS · Put	MS	Put	19,650	$3.1m19.6k shares	Added
ALPHABET INC GOOGL · Put	GOOGL	Put	10,253	$2.5m10.3k shares	Reduced
MICROSOFT CORP MSFT · Put	MSFT	Put	4,240	$2.2m4.2k shares	Reduced
ISHARES TR IWM · Put	IWM	Put	7,950	$1.9m8.0k shares	Added
COINBASE GLOBAL INC COIN · Put	COIN	Put	4,250	$1.4m4.2k shares	New
BANK AMERICA CORP BAC · Put	BAC	Put	27,700	$1.4m27.7k shares	Reduced
WELLS FARGO CO NEW WFC · Put	WFC	Put	14,000	$1.2m14.0k shares	Added
AKAMAI TECHNOLOGIES INC AKAM · Put	AKAM	Put	13,000	$984.9k13.0k shares	Reduced
ADVANCED MICRO DEVICES INC AMD · Put	AMD	Put	5,635	$911.7k5.6k shares	Added
TARGET CORP TGT · Put	TGT	Put	10,000	$897.0k10.0k shares	Unchanged
CITIGROUP INC C · Put	C	Put	8,250	$837.4k8.2k shares	Unchanged
GLOBAL PMTS INC GPN · Put	GPN	Put	10,000	$830.8k10.0k shares	Unchanged
INVESCO QQQ TR QQQ · Put	QQQ	Put	1,317	$790.7k1.3k shares	Added
PALO ALTO NETWORKS INC PANW · Put	PANW	Put	3,300	$671.9k3.3k shares	Reduced
DUKE ENERGY CORP NEW DUK · Put	DUK	Put	5,000	$618.8k5.0k shares	Added
SEAGATE TECHNOLOGY HLDNGS PL STX · Put	STX	Put	2,200	$519.3k2.2k shares	Added
SUPER MICRO COMPUTER INC SMCI · Put	SMCI	Put	10,500	$503.4k10.5k shares	Added
ELI LILLY & CO LLY · Put	LLY	Put	654	$499.0k654 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