BANK NOVA SCOTIA HALIFAX BNS
COM · Common Stock · CUSIP 064149107 · ISIN CA0641491075
- SectorFinancials
- IndustryState Commercial Banks
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($387.2m this quarter). Holder counts are more reliable. Shares outstanding: 1.2bn as of 2025-10-31, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $74.08. Options: 23 managers hold calls ($961.8m notional), 21 hold puts ($2.5bn).
Trends to Q4 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 416 |
| Q4 2022 | 421 |
| Q1 2023 | 406 |
| Q2 2023 | 388 |
| Q3 2023 | 397 |
| Q4 2023 | 392 |
| Q1 2024 | 401 |
| Q2 2024 | 395 |
| Q3 2024 | 414 |
| Q4 2024 | 444 |
| Q1 2025 | 422 |
| Q2 2025 | 435 |
| Q3 2025 | 462 |
| Q4 2025 | 485 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2024 | 217 | 146 |
| Q2 2024 | 175 | 193 |
| Q3 2024 | 194 | 172 |
| Q4 2024 | 201 | 170 |
| Q1 2025 | 193 | 204 |
| Q2 2025 | 199 | 182 |
| Q3 2025 | 217 | 189 |
| Q4 2025 | 209 | 188 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $787.2m | $959.2m | 1.22 |
| Q2 2025 | $705.7m | $2.4bn | 3.34 |
| Q3 2025 | $940.0m | $2.1bn | 2.24 |
| Q4 2025 | $961.8m | $2.5bn | 2.64 |
Biggest buyers
| FIL Ltd | Added | +5.5m |
| ACADIAN ASSET MANAGEMENT LLC | Added | +4.3m |
| TORONTO DOMINION BANK | Added | +4.3m |
| BANK OF MONTREAL /CAN/ | Added | +4.0m |
| AQR CAPITAL MANAGEMENT LLC | Added | +3.4m |
| Connor, Clark & Lunn Investment Management Ltd. | Added | +2.5m |
| CIBC WORLD MARKET INC. | Added | +2.2m |
| CANADA PENSION PLAN INVESTMENT BOARD | Added | +2.0m |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | Added | +1.5m |
| VANGUARD GROUP INC | Added | +1.2m |
Biggest sellers
| ROYAL BANK OF CANADA | Reduced | -17.8m |
| JPMORGAN CHASE & CO | Reduced | -7.2m |
| MACKENZIE FINANCIAL CORP | Reduced | -5.0m |
| GOLDMAN SACHS GROUP INC | Reduced | -3.1m |
| Zurich Insurance Group Ltd/FI | Sold out | -2.1m |
| HSBC HOLDINGS PLC | Sold out | -1.9m |
| INTACT INVESTMENT MANAGEMENT INC. | Reduced | -1.2m |
| BANK OF AMERICA CORP /DE/ | Reduced | -1.2m |
| SIG North Trading, ULC | Reduced | -950.2k |
| Public Sector Pension Investment Board | Reduced | -927.2k |
Biggest calls
| ROYAL BANK OF CANADA | Added | $321.8m4.4m shares |
| SIG North Trading, ULC | Added | $150.5m2.0m shares |
| D. E. Shaw & Co., Inc. | Added | $140.2m1.9m shares |
| TORONTO DOMINION BANK | Reduced | $82.3m1.1m shares |
| BANK OF MONTREAL /CAN/ | Added | $68.9m934.4k shares |
| CIBC WORLD MARKET INC. | Reduced | $55.3m749.5k shares |
| NATIONAL BANK OF CANADA /FI/ | Reduced | $54.4m7.4k shares |
| GOLDMAN SACHS GROUP INC | Unchanged | $22.1m300.0k shares |
| Periscope Capital Inc. | Unchanged | $18.5m251.2k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $7.1m96.3k shares |
Biggest puts
| ROYAL BANK OF CANADA | Added | $1.6bn21.8m shares |
| D. E. Shaw & Co., Inc. | Added | $250.0m3.4m shares |
| TORONTO DOMINION BANK | Added | $240.7m3.3m shares |
| SIG North Trading, ULC | Reduced | $193.0m2.6m shares |
| MILLENNIUM MANAGEMENT LLC | Added | $106.3m1.1m shares |
| CIBC WORLD MARKET INC. | Added | $82.7m1.1m shares |
| BANK OF MONTREAL /CAN/ | Reduced | $17.3m235.0k shares |
| NATIONAL BANK OF CANADA /FI/ | Reduced | $14.0m1.9k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $10.0m135.3k shares |
| GROUP ONE TRADING LLC | Reduced | $5.1m68.9k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
No one currently above 5% in the filings since 19 Dec 2024.
Fell to 5% or below in the last year: BANK OF MONTREAL /CAN/ (4.6%, 2026-05-13)
Insider purchases and sales in Q4 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
None reported in Q4 2025.
Holders, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| ROYAL BANK OF CANADA 1.06% of their portfolio | 81.9m $6.0bn | Reduced -17.8m |
| BANK OF MONTREAL /CAN/ 1.75% of their portfolio | 57.9m $4.3bn | Added +4.0m |
| VANGUARD GROUP INC 0.06% of their portfolio | 57.2m $4.2bn | Added +1.2m |
| CIBC WORLD MARKET INC. 3.77% of their portfolio | 28.6m $2.1bn | Added +2.2m |
| TORONTO DOMINION BANK 2.89% of their portfolio | 22.2m $1.6bn | Added +4.3m |
| 1832 Asset Management L.P. 1.75% of their portfolio | 18.8m $1.4bn | Added +828.9k |
| TD Asset Management Inc 1.11% of their portfolio | 18.7m $1.4bn | Added +310.6k |
| NORGES BANK 0.15% of their portfolio | 18.6m $1.4bn | Not comparable |
| NATIONAL BANK OF CANADA /FI/ 1.35% of their portfolio | 17.8m $1.3bn | Added +714.1k |
| FIL Ltd 0.91% of their portfolio | 16.5m $1.2bn | Added +5.5m |
| SCOTIA CAPITAL INC. 4.10% of their portfolio | 13.8m $1.0bn | Reduced -278.5k |
| ACADIAN ASSET MANAGEMENT LLC 1.56% of their portfolio | 12.9m $950.1m | Added +4.3m |
| GEODE CAPITAL MANAGEMENT, LLC 0.06% of their portfolio | 12.3m $923.2m | Added +799.5k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.53% of their portfolio | 10.8m $794.4m | Added +2.0m |
| Connor, Clark & Lunn Investment Management Ltd. 1.97% of their portfolio | 10.2m $751.4m | Added +2.5m |
| CIBC Asset Management Inc 1.76% of their portfolio | 9.9m $731.0m | Added +57.6k |
| MACKENZIE FINANCIAL CORP 0.85% of their portfolio | 9.7m $713.8m | Reduced -5.0m |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 1.18% of their portfolio | 9.4m $696.9m | Added +584.1k |
| Legal & General Group Plc 0.14% of their portfolio | 8.5m $626.5m | Added +436.5k |
| Federation des caisses Desjardins du Quebec 2.27% of their portfolio | 8.0m $593.1m | Reduced -40.6k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.42% of their portfolio | 7.0m $515.1m | Added +1.5m |
| JPMORGAN CHASE & CO 0.03% of their portfolio | 6.0m $440.9m | Reduced -7.2m |
| DIMENSIONAL FUND ADVISORS LP 0.09% of their portfolio | 5.9m $431.4m | Added +136.3k |
| MORGAN STANLEY 0.02% of their portfolio | 5.1m $376.6m | Added +773.8k |
| TD Waterhouse Canada Inc. 2.14% of their portfolio | 4.7m $343.4m | Reduced -48.9k |
| BANK OF AMERICA CORP /DE/ 0.02% of their portfolio | 4.6m $340.8m | Reduced -1.2m |
| GOLDMAN SACHS GROUP INC 0.05% of their portfolio | 4.4m $326.7m | Reduced -3.1m |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.05% of their portfolio | 4.1m $305.0m | Added +78.4k |
| LETKO, BROSSEAU & ASSOCIATES INC 4.51% of their portfolio | 3.7m $275.1m | Reduced -254.3k |
| AQR CAPITAL MANAGEMENT LLC 0.14% of their portfolio | 3.6m $262.3m | Added +3.4m |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC 0.82% of their portfolio | 3.3m $245.1m | Reduced -187.6k |
| WELLINGTON MANAGEMENT GROUP LLP 0.04% of their portfolio | 3.2m $233.4m | Reduced -202.9k |
| Amundi 0.06% of their portfolio | 3.0m $222.4m | Reduced -97.8k |
| DEUTSCHE BANK AG\ 0.06% of their portfolio | 2.6m $194.3m | Added +199.8k |
| OMERS ADMINISTRATION Corp 1.21% of their portfolio | 2.3m $170.1m | Reduced -362.4k |
| Invesco Ltd. 0.02% of their portfolio | 2.3m $165.9m | Reduced -116.4k |
| Clearbridge Investments, LLC 0.12% of their portfolio | 2.0m $150.8m | Reduced -206.1k |
| Cardinal Capital Management, Inc. 4.54% of their portfolio | 2.0m $202.2m | Reduced -87.6k |
| MUFG SECURITIES (CANADA), LTD. 3.86% of their portfolio | 1.9m $138.9m | Reduced -173.5k |
| FRANKLIN RESOURCES INC 0.03% of their portfolio | 1.7m $123.8m | Added +122.9k |
| Alberta Investment Management Corp 0.72% of their portfolio | 1.6m $121.0m | Added +99.8k |
| CITIGROUP INC 0.07% of their portfolio | 1.4m $105.3m | Reduced -91.8k |
| NICOLA WEALTH MANAGEMENT LTD. 9.14% of their portfolio | 1.4m $100.4m | Added +844.2k |
| BlackRock, Inc. 0.00% of their portfolio | 1.3m $95.0m | Added +58.2k |
| Bank of New York Mellon Corp 0.02% of their portfolio | 1.2m $88.8m | Reduced -78.8k |
| VAN ECK ASSOCIATES CORP 0.07% of their portfolio | 1.2m $88.3m | Added +169.0k |
| Hillsdale Investment Management Inc. 2.35% of their portfolio | 1.2m $85.3m | Added +59.1k |
| AVIVA PLC 0.14% of their portfolio | 1.1m $82.8m | Added +57.0k |
| Marathon Asset Management Ltd 3.11% of their portfolio | 1.1m $80.8m | Reduced -68.2k |
| Addenda Capital Inc. 3.18% of their portfolio | 1.1m $108.4m | Reduced -23.4k |
| Russell Investments Group, Ltd. 0.08% of their portfolio | 1.0m $73.9m | Reduced -668.4k |
| BARCLAYS PLC 0.03% of their portfolio | 988.4k $72.8m | Added +672.9k |
| Value Partners Investments Inc. 5.56% of their portfolio | 982.6k $72.6m | Reduced -136.4k |
| BCV Asset Management Inc. 2.56% of their portfolio | 965.5k $101.2m | First filing |
| Scheer, Rowlett & Associates Investment Management Ltd. 4.76% of their portfolio | 940.5k $69.4m | Reduced -226.1k |
| UBS Group AG 0.01% of their portfolio | 927.7k $68.4m | Reduced -93.5k |
| JUPITER ASSET MANAGEMENT LTD 0.53% of their portfolio | 900.8k $66.5m | New |
| NORTHERN TRUST CORP 0.01% of their portfolio | 894.1k $65.9m | Added +42.2k |
| Nuveen, LLC 0.02% of their portfolio | 867.9k $64.1m | Reduced -1.3k |
| Korea Investment CORP 0.12% of their portfolio | 839.6k $62.0m | Added +39.0k |
| Grantham, Mayo, Van Otterloo & Co. LLC 0.16% of their portfolio | 825.1k $60.9m | Added +72.6k |
| INTECH INVESTMENT MANAGEMENT LLC 0.54% of their portfolio | 821.8k $60.7m | Added +641.0k |
| Pictet Asset Management Holding SA 0.06% of their portfolio | 786.0k $58.0m | Reduced -61.8k |
| MILLENNIUM MANAGEMENT LLC 0.04% of their portfolio | 767.8k $56.6m | Added +46.7k |
| SIG North Trading, ULC 9.88% of their portfolio | 765.8k $56.4m | Reduced -950.2k |
| CANADA LIFE ASSURANCE Co 0.09% of their portfolio | 707.5k $52.2m | Reduced -136.7k |
| Purpose Unlimited Inc. 2.39% of their portfolio | 707.2k $52.2m | First filing |
| State of Tennessee, Department of Treasury 0.17% of their portfolio | 694.7k $52.2m | Reduced -13.8k |
| MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd 5.77% of their portfolio | 671.2k $67.9m | Reduced -27.2k |
| FIRST TRUST ADVISORS LP 0.04% of their portfolio | 661.3k $48.7m | Reduced -81.7k |
| Public Sector Pension Investment Board 0.16% of their portfolio | 648.4k $47.8m | Reduced -927.2k |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.25% of their portfolio | 648.0k $47.8m | Reduced -67.1k |
| APG Asset Management N.V. 0.11% of their portfolio | 639.7k $40.2m | Reduced -314.1k |
| Guardian Partners Inc. 3.81% of their portfolio | 638.4k $47.5m | Added +50.7k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.10% of their portfolio | 603.7k $44.6m | Added +12.6k |
| Artemis Investment Management LLP 0.50% of their portfolio | 556.6k $41.1m | Added +155.4k |
| Cumberland Partners Ltd 2.50% of their portfolio | 552.8k $40.8m | Added +260.8k |
| Caisse de depot et placement du Quebec 0.07% of their portfolio | 531.4k $39.2m | Reduced -156.2k |
| AMERICAN CENTURY COMPANIES INC 0.02% of their portfolio | 516.4k $38.1m | Added +65.6k |
| NEUBERGER BERMAN GROUP LLC 0.03% of their portfolio | 506.9k $37.4m | Added +41.0k |
| GUARDIAN CAPITAL LP 1.09% of their portfolio | 496.7k $36.7m | Added +43 |
| STATE OF WISCONSIN INVESTMENT BOARD 0.08% of their portfolio | 477.8k $35.3m | New |
| INTACT INVESTMENT MANAGEMENT INC. 0.92% of their portfolio | 433.7k $32.0m | Reduced -1.2m |
| Delaney Capital Management Ltd. 5.16% of their portfolio | 421.2k $31.1m | First filing |
| RENAISSANCE TECHNOLOGIES LLC 0.04% of their portfolio | 388.7k $28.6m | Reduced -510.9k |
| AGF MANAGEMENT LTD 0.17% of their portfolio | 376.7k $38.1m | Reduced -11.9k |
| Northwest & Ethical Investments L.P. 0.61% of their portfolio | 367.6k $27.1m | Added +22.2k |
| Corient Private Wealth LP 0.02% of their portfolio | 361.4k $26.6m | Added +177.8k |
| FAIRFAX FINANCIAL HOLDINGS LTD/ CAN 1.27% of their portfolio | 359.1k $26.5m | Unchanged |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.04% of their portfolio | 335.0k $33.9m | New |
| FORSTA AP-FONDEN 0.13% of their portfolio | 301.5k $22.3m | Reduced -64.0k |
| Investment Management Corp of Ontario 0.29% of their portfolio | 300.2k $22.1m | Added +107.4k |
| CANERECTOR INC 14.86% of their portfolio | 300.0k $30.4m | Unchanged |
| Aviso Financial Inc. 0.83% of their portfolio | 297.4k $21.9m | Added +10.6k |
| Mn Services Vermogensbeheer B.V. 0.13% of their portfolio | 285.8k $21.1m | Added +41.4k |
| JANE STREET GROUP, LLC 0.02% of their portfolio | 283.8k $20.9m | Added +88.3k |
| Qube Research & Technologies Ltd 0.03% of their portfolio | 277.1k $20.4m | Reduced -10.3k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 274.3k $20.8m | Reduced -13.1k |
| DekaBank Deutsche Girozentrale 0.02% of their portfolio | 272.9k $13.8m | Unchanged |
| Varma Mutual Pension Insurance Co 0.12% of their portfolio | 269.9k $19.9m | Reduced -10.2k |