Bank of Nova Scotia Trust Co.

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 13, 2026), Bank of Nova Scotia Trust Co. reported 161 stock positions worth $1.2 billion. Its top holding was Royal Bank of Canada (RY) at 8.5% of the portfolio, followed by Toronto-Dominion Bank (TD, 6.0%) and Bank of Montreal (BMO, 5.8%). Compared with Q4 2025, it opened 8 new positions, sold out of 11, added to 69 and reduced 65. The biggest buy was Canadian Natural Resources (CNQ, shares +10%) and the biggest sale Royal Bank of Canada (RY, shares −2%).

Most Recent 13F
Q2 2026
Location
TORONTO, A6
CIK
0001335382
Portfolio Value
$1.2B (Q1 2026)
SEC Filing
0001335382-26-000002 ↗ filed May 13, 2026

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $928.9M Q1 2024 Q2 2024: $895.5M Q2 2024 Q3 2024: $984.9M Q3 2024 Q4 2024: $947.3M Q4 2024 Q1 2025: $937.3M Q1 2025 Q2 2025: $1.0B Q2 2025 Q3 2025: $1.1B Q3 2025 Q4 2025: $1.1B Q4 2025 Q1 2026: $1.2B $1.2B Q1 2026 Q2 2026: $1.2B Q2 2026

Holdings 161 stocks · $1.2B
RY Royal Bank of Canada 8.52% 613,637 $99.3M Reduce -2.4%
TD Toronto-Dominion Bank 5.98% 746,266 $69.6M Reduce -1.8%
BMO Bank of Montreal filed as BANK MONTREAL MEDIUM 5.76% 496,009 $67.1M Reduce -3.0%
TRP TC Energy Corp. 4.72% 877,577 $54.9M Add +0.1%
ENB Enbridge Inc. 4.59% 986,582 $53.4M Reduce -0.8%
CNQ Canadian Natural Resources 4.06% 970,403 $47.3M Add +9.6%
MSFT Microsoft Corp. 2.69% 84,775 $31.4M Add +0.2%
CNI Canadian Natl Railway Co. 2.61% 296,351 $30.5M Add +1.2%
TU Telus Corp. 2.60% 2,363,948 $30.3M Add +0.2%
MFC Manulife Financial Corp. 2.42% 817,126 $28.1M Add +2.3%
SU Suncor Energy Inc. 2.32% 409,035 $27.0M Add +8.9%
GOOGL Alphabet Inc. Class A 2.30% 93,289 $26.8M Reduce -5.0%
BN Brookfield Corp. 2.30% 661,375 $26.8M Add +1.3%
QSR Restaurant Brands Intern 2.08% 328,439 $24.3M Add +0.1%
PBA Pembina Pipeline Corp. 2.04% 530,819 $23.8M Add +10.0%
CP Canadian Pacific Kansas City 2.02% 299,244 $23.5M Reduce -2.5%
FTS Fortis Inc. 1.92% 399,931 $22.3M Add +2.1%
SLF Sun Life Financial Inc. 1.90% 353,727 $22.1M Add +14.0%
JNJ Johnson & Johnson 1.80% 85,582 $20.9M Add +1.8%
WCN Waste Connections Inc. 1.66% 118,763 $19.3M Add +3.1%
COST Costco Wholesale Corp. 1.57% 18,377 $18.3M Reduce -2.3%
FNV Franco-Nevada Corp. 1.55% 73,033 $18.0M Reduce -6.6%
AAPL Apple Inc. 1.54% 70,814 $18.0M Reduce -0.7%
JPM JPMorgan Chase & Co. 1.53% 60,731 $17.9M Reduce -4.4%
V Visa Inc. Class A 1.44% 55,543 $16.8M Add +3.3%
NTR Nutrien Ltd. 1.43% 220,062 $16.6M Reduce -1.2%
AMZN Amazon.com Inc. 1.42% 79,637 $16.6M Reduce -1.0%
BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA B C 1.27% 213,488 $14.8M Add +1.0%
TEL Te Connectivity PLC 1.13% 62,725 $13.1M Reduce -1.3%
CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO 0.96% 118,272 $11.2M Add +11.6%
MDT Medtronic PLC 0.88% 118,911 $10.3M Add +3.4%
RCI Rogers Communications Inc. Class B 0.84% 255,595 $9.8M Add +10.1%
GIB Cgi Inc. 0.80% 127,030 $9.3M Reduce -4.0%
DHR Danaher Corp. 0.78% 48,161 $9.1M Reduce -2.3%
CME Cme Group Inc. 0.70% 27,681 $8.2M Reduce -0.5%
LIN Linde PLC 0.69% 16,260 $8.1M Add +0.3%
SHOP Shopify Inc. Class A 0.61% 60,328 $7.2M Add +4.3%
CRM Salesforce Inc. 0.56% 34,991 $6.5M Add +1.1%
RBA RB Global Inc. 0.54% 65,549 $6.3M Reduce -5.9%
MA Mastercard Inc. Class A 0.53% 12,287 $6.1M Reduce -39.2%
TRI Thomson Reuters Corp. 0.52% 67,786 $6.1M Add +49.0%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.51% 37,004 $5.9M Add +3.1%
GOOG Alphabet Inc. Class C 0.49% 19,983 $5.7M Reduce -0.0%
HON Honeywell International Inc. 0.49% 25,282 $5.7M Add +3.8%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.46% 55,977 $5.4M Add +7.0%
ABT Abbott Laboratories 0.46% 52,306 $5.4M Add +13.5%
EMR Emerson Electric Co. 0.45% 39,685 $5.2M Reduce -10.5%
AEM Agnico Eagle Mines Ltd. 0.42% 23,872 $4.8M Add +1.3%
PSA Public Storage 0.39% 16,669 $4.5M New
NVDA Nvidia Corp. 0.37% 24,631 $4.3M Add +24.4%
WPM Wheaton Precious Metals Corp. 0.36% 32,256 $4.2M Add +33.5%
CAE Cae Inc. 0.35% 158,544 $4.1M Add +34.8%
HD Home Depot Inc. 0.32% 11,423 $3.8M Add +13.7%
STN Stantec Inc. 0.32% 43,051 $3.7M Add +7.7%
EMA Emera Inc. 0.31% 69,153 $3.6M Add +2.6%
FTV Fortive Corp. 0.29% 61,886 $3.4M Add +0.0%
CMCSA Comcast Corp. Class A 0.29% 116,260 $3.3M Reduce -17.4%
SHEL Shell PLC-ADR 0.28% 35,385 $3.3M New
SPY SS SPDR S&P 500 ETF Trust-US 0.27% 4,854 $3.2M Reduce -0.2%
BIP Brookfield Infrastructure Pa 0.27% 86,946 $3.1M Add +15.4%
BCE Bce Inc. 0.25% 116,415 $2.9M Reduce -38.4%
TECK Teck Resources Ltd.-CLS B 0.22% 50,174 $2.6M Add +10.2%
MKC McCormick & Co.-Non VTG SHRS 0.21% 48,330 $2.4M Add +1.1%
CIGI Colliers Intl GR-Subord Vot 0.20% 22,173 $2.4M Add +53.6%
TMO Thermo Fisher Scientific Inc. 0.19% 4,589 $2.3M Add +59.2%
META Meta Platforms Inc. Class A 0.19% 3,839 $2.2M Reduce -10.8%
UNH Unitedhealth Group Inc. 0.18% 7,906 $2.1M Reduce -39.9%
TFII Tfi International Inc. filed as TRANSFORCE INC 0.18% 19,620 $2.1M Reduce -3.0%
SHW The Sherwin-Williams Co. 0.18% 6,486 $2.1M Reduce -2.1%
WMT Walmart Inc. 0.17% 16,058 $2.0M Reduce -8.0%
MCD McDonald's Corp. 0.17% 6,381 $2.0M Reduce -0.6%
VLO Valero Energy Corp. 0.17% 7,928 $2.0M Reduce -9.5%
BRK.B Berkshire Hathaway Inc. Class B 0.16% 3,792 $1.8M Add +2.7%
AON Aon PLC Class A 0.15% 5,267 $1.7M New
FSV Firstservice Corp. 0.14% 11,894 $1.7M Add +25.4%
Q Qnity Electronics Inc. 0.13% 13,238 $1.5M Reduce -33.3%
XOM Exxon Mobil Corp. 0.13% 8,945 $1.5M Reduce -71.3%
PGR Progressive Corp. 0.13% 7,637 $1.5M Add +14.0%
RTX RTX Corp. 0.13% 7,770 $1.5M No change
DSGX The Descartes Systems Grp 0.13% 20,669 $1.5M Reduce -15.8%
TXN Texas Instruments Inc. 0.13% 7,592 $1.5M Add +86.0%
BGSI Boyd Group Services Inc. 0.12% 11,100 $1.4M Reduce -10.4%
PLD Prologis Inc. 0.12% 10,480 $1.4M Reduce -54.4%
AVGO Broadcom Inc. 0.11% 4,151 $1.3M Reduce -7.5%
ORCL Oracle Corp. 0.11% 8,715 $1.3M Reduce -4.8%
DOO BRP Inc./Ca- Sub Voting 0.11% 17,184 $1.2M Reduce -1.9%
OTEX Open Text Corp. 0.10% 53,502 $1.2M Add +6.9%
KGC Kinross Gold Corp. 0.10% 37,789 $1.2M Reduce -38.1%
CCJ Cameco Corp. 0.10% 10,386 $1.1M Reduce -0.2%
ACN Accenture PLC Class A 0.09% 5,519 $1.1M Reduce -38.9%
PG The Procter & Gamble Co. 0.09% 7,525 $1.1M Add +23.7%
WM Waste Management Inc. 0.09% 4,644 $1.1M Reduce -8.9%
BIPC Brookfield Infrastructure-A 0.09% 26,665 $1.1M Add +5.4%
WFG West Fraser Timber Co. Ltd. 0.09% 15,737 $1.0M Add +46.7%
ATS Ats Corp. 0.08% 34,332 $968K Add +12.5%
CSCO Cisco Systems Inc. 0.08% 12,465 $967K Reduce -0.1%
UL Unilever PLC-Sponsored ADR 0.08% 16,792 $957K Add +7.5%
PANW Palo Alto Networks Inc. 0.08% 5,703 $914K Reduce -1.9%
SYK Stryker Corp. 0.08% 2,773 $911K Add +29.2%
TSM Taiwan Semiconductor-SP ADR 0.08% 2,604 $880K Add +41.1%
BLK BlackRock Inc. 0.07% 835 $803K Reduce -13.7%
GIL Gildan Activewear Inc. 0.07% 14,165 $788K Reduce -10.0%
SOBO South Bow Corp. 0.07% 23,356 $778K Reduce -1.0%
MRK Merck & Co. Inc. 0.07% 6,438 $774K Add +135.5%
ECL Ecolab Inc. 0.06% 2,800 $745K Reduce -3.5%
MEOH Methanex Corp. 0.06% 11,808 $703K Reduce -10.6%
KO The Coca-Cola Co. 0.06% 9,212 $701K Add +17.9%
CLS Celestica Inc. 0.06% 2,464 $694K New
MGA Magna International Inc. 0.06% 12,352 $689K Add +13.9%
INTU Intuit Inc. 0.05% 1,356 $586K Add +343.1%
UBER Uber Technologies Inc. 0.05% 8,135 $585K Add +44.1%
MS Morgan Stanley 0.04% 2,969 $489K Add +4.4%
CVE Cenovus Energy Inc. 0.04% 17,900 $475K Reduce -19.7%
MDLZ Mondelez International Inc. Class A 0.04% 8,157 $470K No change
BKNG Booking Holdings Inc. 0.04% 2,698 $455K Add +2148.3%
BAM Brookfield Asset Mgmt-A 0.04% 9,336 $415K Add +82.8%
BSX Boston Scientific Corp. 0.03% 6,301 $395K Add +29.9%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.03% 8,027 $391K Reduce -13.3%
NKE Nike Inc. Class B 0.03% 7,388 $390K Reduce -53.7%
LRCX Lam Research Corp. 0.03% 1,816 $388K New
IBKR Interactive Brokers Gro Class A 0.03% 5,668 $380K Reduce -19.0%
LLY Eli Lilly & Co. 0.03% 413 $380K Reduce -7.6%
AME Ametek Inc. 0.03% 1,771 $380K No change
ETR Entergy Corp. 0.03% 3,315 $372K Reduce -1.7%
CVX Chevron Corp. 0.03% 1,761 $364K Reduce -1.2%
GWRE Guidewire Software Inc. 0.03% 2,421 $362K Add +58.2%
AFG American Financial Group Inc. 0.03% 2,818 $360K No change
IEFA iShares Core MSCI Eafe ETF 0.03% 3,900 $353K No change
MNST Monster Beverage Corp. 0.03% 4,670 $338K No change
PEP Pepsico Inc. 0.03% 2,045 $318K No change
HCA HCA Healthcare Inc. 0.03% 671 $318K No change
ODFL Old Dominion Freight Line 0.03% 1,608 $314K New
PFE Pfizer Inc. 0.03% 10,773 $303K Add +32.8%
COF Capital One Financial Corp. 0.03% 1,650 $301K Add +97.4%
WRB WR Berkley Corp. filed as BERKLEY W R CORP 0.03% 4,437 $294K No change
CNP Centerpoint Energy Inc. 0.03% 6,785 $293K Reduce -1.8%
YUMC Yum China Holdings Inc. 0.02% 5,868 $286K Add +1.0%
PM Philip Morris International 0.02% 1,719 $284K No change
BEPC Brookfield Renewable Corp. 0.02% 7,112 $283K Reduce -23.4%
PEG Public Service Enterprise GP 0.02% 3,318 $269K No change
AX Axos Financial Inc. 0.02% 3,145 $268K No change
IQV Iqvia Holdings Inc. 0.02% 1,556 $265K Add +0.4%
CDNS Cadence Design SYS Inc. 0.02% 953 $265K Add +36.0%
COHR Coherent Corp. 0.02% 1,082 $258K Reduce -2.8%
ICE Intercontinental Exchange Inc. 0.02% 1,632 $257K Add +2.1%
OZK Bank Ozk 0.02% 5,569 $256K No change
BEP Brookfield Renewable Partner 0.02% 7,791 $254K Reduce -27.2%
SFBS Servisfirst Bancshares Inc. 0.02% 3,376 $246K No change
JCI Johnson Controls Internation 0.02% 1,820 $238K Reduce -2.8%
ELV Elevance Health Inc. 0.02% 793 $232K Reduce -18.8%
VXUS Vanguard Total Intl Stock 0.02% 3,000 $231K No change
CL Colgate-Palmolive Co. 0.02% 2,637 $225K Add +1.0%
CPRT Copart Inc. 0.02% 6,480 $215K New
ROST Ross Stores Inc. 0.02% 981 $213K New
LCII Lci Industries 0.02% 1,702 $209K No change
DD Dupont DE Nemours Inc. 0.02% 4,540 $208K Reduce -68.1%
WFC Wells Fargo & Co. 0.02% 2,521 $201K Reduce -2.7%
AQN Algonquin Power & Utilities 0.01% 22,500 $138K No change
VET Vermilion Energy Inc. 0.01% 10,000 $138K No change
AVTR Avantor Inc. 0.01% 12,193 $96K Reduce -2.8%
BB Blackberry Ltd. 0.00% 16,000 $52K No change

Portfolio Sells Q4 2025 → Q1 2026
RY Royal Bank of Canada Reduce -2.4% 8.52% −0.80
MA Mastercard Inc. Class A Reduce -39.2% 0.53% −0.48
GOOGL Alphabet Inc. Class A Reduce -5.0% 2.30% −0.37
GIB Cgi Inc. Reduce -4.0% 0.80% −0.27
TD Toronto-Dominion Bank Reduce -1.8% 5.98% −0.25
JPM JPMorgan Chase & Co. Reduce -4.4% 1.53% −0.25
DHR Danaher Corp. Reduce -2.3% 0.78% −0.20
XOM Exxon Mobil Corp. Reduce -71.3% 0.13% −0.20
UNH Unitedhealth Group Inc. Reduce -39.9% 0.18% −0.19
AMZN Amazon.com Inc. Reduce -1.0% 1.42% −0.19
AAPL Apple Inc. Reduce -0.7% 1.54% −0.14
BCE Bce Inc. Reduce -38.4% 0.25% −0.14
PLD Prologis Inc. Reduce -54.4% 0.12% −0.14
TEL Te Connectivity PLC Reduce -1.3% 1.13% −0.13
ACN Accenture PLC Class A Reduce -38.9% 0.09% −0.12
RBA RB Global Inc. Reduce -5.9% 0.54% −0.08
CMCSA Comcast Corp. Class A Reduce -17.4% 0.29% −0.08
EMR Emerson Electric Co. Reduce -10.5% 0.45% −0.07
DSGX The Descartes Systems Grp Reduce -15.8% 0.13% −0.06
META Meta Platforms Inc. Class A Reduce -10.8% 0.19% −0.06
ADBE Adobe Inc. Sold out 0.00% −0.06
NKE Nike Inc. Class B Reduce -53.7% 0.03% −0.06
GOOG Alphabet Inc. Class C Reduce -0.0% 0.49% −0.05
KGC Kinross Gold Corp. Reduce -38.1% 0.10% −0.05
BGSI Boyd Group Services Inc. Reduce -10.4% 0.12% −0.05
BDX Becton Dickinson and Co. Sold out 0.00% −0.05
ORCL Oracle Corp. Reduce -4.8% 0.11% −0.05
GRTUF Granite Real Estate Investme Sold out 0.00% −0.04
DD Dupont DE Nemours Inc. Reduce -68.1% 0.02% −0.03
AVGO Broadcom Inc. Reduce -7.5% 0.11% −0.02
BLK BlackRock Inc. Reduce -13.7% 0.07% −0.02
CACC Credit Acceptance Corp. Sold out 0.00% −0.02
CCL Carnival Corp. Sold out 0.00% −0.02
CNXC Concentrix Corp. Sold out 0.00% −0.02
BAH Booz Allen Hamilton Holdings Sold out 0.00% −0.02
ASML ASML Holding NV-NY Reg SHS Sold out 0.00% −0.02
URI United Rentals Inc. Sold out 0.00% −0.02
GIL Gildan Activewear Inc. Reduce -10.0% 0.07% −0.02
IYW iShares Ustechnology ETF Sold out 0.00% −0.02
SPY SS SPDR S&P 500 ETF Trust-US Reduce -0.2% 0.27% −0.02
PANW Palo Alto Networks Inc. Reduce -1.9% 0.08% −0.01
PCG P G & E Corp. Sold out 0.00% −0.01
BMO Bank of Montreal Reduce -3.0% 5.76% −0.01
BAC Bank of America Corp. Reduce -13.3% 0.03% −0.01
ELV Elevance Health Inc. Reduce -18.8% 0.02% −0.01
Q Qnity Electronics Inc. Reduce -33.3% 0.13% −0.01
LLY Eli Lilly & Co. Reduce -7.6% 0.03% −0.01
SHW The Sherwin-Williams Co. Reduce -2.1% 0.18% −0.01
BEPC Brookfield Renewable Corp. Reduce -23.4% 0.02% −0.01
IBKR Interactive Brokers Gro Class A Reduce -19.0% 0.03% −0.01

Portfolio Buys Q4 2025 → Q1 2026
CNQ Canadian Natural Resources Add +9.6% 4.06% +1.45
SU Suncor Energy Inc. Add +8.9% 2.32% +0.87
TRP TC Energy Corp. Add +0.1% 4.72% +0.52
PBA Pembina Pipeline Corp. Add +10.0% 2.04% +0.44
PSA Public Storage New 0.39% +0.39
SHEL Shell PLC-ADR New 0.28% +0.28
JNJ Johnson & Johnson Add +1.8% 1.80% +0.28
SLF Sun Life Financial Inc. Add +14.0% 1.90% +0.22
FTS Fortis Inc. Add +2.1% 1.92% +0.15
AON Aon PLC Class A New 0.15% +0.15
QSR Restaurant Brands Intern Add +0.1% 2.08% +0.14
CM Can Imperial BK of Commerce Add +11.6% 0.96% +0.13
WPM Wheaton Precious Metals Corp. Add +33.5% 0.36% +0.12
CNI Canadian Natl Railway Co. Add +1.2% 2.61% +0.10
LIN Linde PLC Add +0.3% 0.69% +0.09
RCI Rogers Communications Inc. Class B Add +10.1% 0.84% +0.08
HON Honeywell International Inc. Add +3.8% 0.49% +0.08
AEM Agnico Eagle Mines Ltd. Add +1.3% 0.42% +0.07
TXN Texas Instruments Inc. Add +86.0% 0.13% +0.06
CLS Celestica Inc. New 0.06% +0.06
TMO Thermo Fisher Scientific Inc. Add +59.2% 0.19% +0.05
NVDA Nvidia Corp. Add +24.4% 0.37% +0.05
CAE Cae Inc. Add +34.8% 0.35% +0.04
BIP Brookfield Infrastructure Pa Add +15.4% 0.27% +0.04
MRK Merck & Co. Inc. Add +135.5% 0.07% +0.04
LRCX Lam Research Corp. New 0.03% +0.03
TECK Teck Resources Ltd.-CLS B Add +10.2% 0.22% +0.03
INTU Intuit Inc. Add +343.1% 0.05% +0.03
WFG West Fraser Timber Co. Ltd. Add +46.7% 0.09% +0.03
TJX TJX Companies Inc. Add +3.1% 0.51% +0.03
ODFL Old Dominion Freight Line New 0.03% +0.03
TSM Taiwan Semiconductor-SP ADR Add +41.1% 0.08% +0.03
HD Home Depot Inc. Add +13.7% 0.32% +0.02
EMA Emera Inc. Add +2.6% 0.31% +0.02
CIGI Colliers Intl GR-Subord Vot Add +53.6% 0.20% +0.02
CPRT Copart Inc. New 0.02% +0.02
ROST Ross Stores Inc. New 0.02% +0.02
PG The Procter & Gamble Co. Add +23.7% 0.09% +0.02
FSV Firstservice Corp. Add +25.4% 0.14% +0.01
KO The Coca-Cola Co. Add +17.9% 0.06% +0.01
SYK Stryker Corp. Add +29.2% 0.08% +0.01
BAM Brookfield Asset Mgmt-A Add +82.8% 0.04% +0.01
UBER Uber Technologies Inc. Add +44.1% 0.05% +0.01
ATS Ats Corp. Add +12.5% 0.08% +0.01
MGA Magna International Inc. Add +13.9% 0.06% +0.01
PFE Pfizer Inc. Add +32.8% 0.03% +0.01
COF Capital One Financial Corp. Add +97.4% 0.03% +0.01
GWRE Guidewire Software Inc. Add +58.2% 0.03% +0.00
CDNS Cadence Design SYS Inc. Add +36.0% 0.02% +0.00
TRI Thomson Reuters Corp. Add +49.0% 0.52% +0.00

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 173$1.2BRY, TD, BMO, TRP, ENB
Q1 2026 161$1.2BRY, TD, BMO, TRP, ENB
Q4 2025 164$1.1BRY, TD, BMO, TRP, ENB
Q3 2025 130$1.1BRY, BMO, TD, ENB, TRP
Q2 2025 125$1.0BRY, BMO, TD, ENB, MSFT
Q1 2025 129$937.3MRY, BMO, TD, ENB, TRP
Q4 2024 131$947.3MRY, BMO, TD, ENB, TRP
Q3 2024 139$984.9MRY, TD, BMO, TRP, ENB
Q2 2024 133$895.5MRY, TD, MSFT, BMO, ENB
Q1 2024 139$928.9MRY, TD, BMO, MSFT, CNI