Scotia Capital Inc.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 13, 2025), Scotia Capital Inc. reported 853 stock positions worth $19.0 billion. Its top holding was Royal Bank of Canada (RY) at 5.6% of the portfolio, followed by Apple (AAPL, 4.5%) and Microsoft (MSFT, 4.3%). Compared with Q3 2024, it opened 96 new positions, sold out of 74, added to 392 and reduced 321. The biggest buy was Amazon.com (AMZN, shares +7%) and the biggest sale Bce (BCE, shares −41%).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO, A6
- CIK
- 0001335644
- Portfolio Value
- $19.0B (Q4 2024)
- SEC Filing
- 0001085146-25-001198 ↗ filed Feb 13, 2025
Holdings Value
Holdings 853 stocks · $19.0B
| RY Royal Bank of Canada | 5.65% | 8,891,023 | $1.1B | Add +1.9% |
| AAPL Apple Inc. | 4.46% | 3,378,733 | $846.2M | Add +2.3% |
| MSFT Microsoft Corp. | 4.26% | 1,917,204 | $808.2M | Add +4.8% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 3.96% | 14,024,260 | $752.6M | Reduce -1.8% |
| ENB Enbridge Inc. | 3.24% | 14,500,982 | $614.8M | Add +1.4% |
| AMZN Amazon.com Inc. | 3.24% | 2,798,898 | $614.1M | Add +6.8% |
| TD Toronto-Dominion Bank | 3.10% | 11,047,091 | $588.0M | Reduce -4.7% |
| V Visa Inc. Class A | 2.55% | 1,531,579 | $484.1M | Add +5.2% |
| NVDA Nvidia Corp. | 2.14% | 3,027,847 | $406.6M | Add +9.8% |
| TRP TC Energy Corp. | 2.12% | 8,667,538 | $403.0M | Reduce -6.8% |
| BN Brookfield Corp. | 2.07% | 6,857,180 | $392.5M | Add +2.4% |
| GOOGL Alphabet Inc. Class A | 2.06% | 2,067,075 | $391.3M | Add +4.4% |
| FTS Fortis Inc. | 2.00% | 9,148,037 | $379.6M | Add +3.7% |
| JPM JPMorgan Chase & Co. | 1.93% | 1,528,994 | $366.5M | Add +8.7% |
| COST Costco Wholesale Corp. | 1.86% | 385,352 | $353.1M | Add +3.7% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 1.78% | 3,493,410 | $338.4M | Add +1.5% |
| MFC Manulife Financial Corp. | 1.75% | 10,829,993 | $332.4M | Reduce -4.4% |
| CNI Canadian Natl Railway Co. | 1.61% | 3,012,858 | $304.7M | Add +11.9% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM | 1.45% | 4,364,540 | $275.4M | Add +0.5% |
| GOOG Alphabet Inc. Class C | 1.44% | 1,434,764 | $273.3M | Add +0.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.33% | 556,984 | $252.5M | Add +3.4% |
| CP Canadian Pacific Kansas City | 1.33% | 3,482,058 | $251.9M | Add +12.5% |
| TU Telus Corp. | 1.26% | 17,722,270 | $240.0M | Reduce -8.6% |
| UNH Unitedhealth Group Inc. | 1.26% | 470,936 | $238.2M | Add +10.7% |
| META Meta Platforms Inc. Class A | 1.15% | 374,036 | $219.0M | Add +2.9% |
| BIP Brookfield Infrastructure Pa | 1.07% | 6,432,381 | $202.5M | Add +2.7% |
| JNJ Johnson & Johnson | 0.99% | 1,302,393 | $188.4M | Add +7.3% |
| HD Home Depot Inc. | 0.98% | 480,251 | $186.8M | Add +7.0% |
| CNQ Canadian Natural Resources | 0.97% | 5,969,882 | $184.0M | Add +5.8% |
| PBA Pembina Pipeline Corp. | 0.97% | 4,969,977 | $183.6M | Add +1.7% |
| SLF Sun Life Financial Inc. | 0.93% | 2,974,065 | $176.3M | Add +3.3% |
| SU Suncor Energy Inc. | 0.83% | 4,439,732 | $158.1M | Add +13.5% |
| MCD McDonald's Corp. | 0.77% | 501,208 | $145.3M | Add +5.3% |
| WM Waste Management Inc. | 0.69% | 644,530 | $130.1M | Add +6.8% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.65% | 209,837 | $123.0M | Add +16.1% |
| SHOP Shopify Inc. Class A | 0.62% | 1,117,479 | $118.6M | Add +3.9% |
| AVGO Broadcom Inc. | 0.61% | 495,701 | $114.9M | Add +2.9% |
| BCE Bce Inc. | 0.60% | 4,926,800 | $114.1M | Reduce -40.8% |
| RCI Rogers Communications Inc. Class B | 0.60% | 3,697,645 | $113.2M | Add +18.3% |
| ACN Accenture PLC Class A | 0.57% | 309,970 | $109.0M | Add +10.1% |
| PEP Pepsico Inc. | 0.56% | 698,733 | $106.3M | Reduce -14.3% |
| QSR Restaurant Brands Intern | 0.53% | 1,544,713 | $100.5M | Add +1.6% |
| HON Honeywell International Inc. | 0.52% | 433,181 | $97.9M | Add +4.9% |
| BLK BlackRock Inc. | 0.51% | 94,439 | $96.8M | Add +4.9% |
| WMT Walmart Inc. | 0.49% | 1,034,847 | $93.5M | Reduce -0.4% |
| MA Mastercard Inc. Class A | 0.47% | 169,029 | $89.0M | Add +2.5% |
| ADBE Adobe Inc. | 0.46% | 198,106 | $88.1M | Add +22.1% |
| DHR Danaher Corp. | 0.45% | 373,940 | $85.8M | Add +14.5% |
| MDT Medtronic PLC | 0.44% | 1,050,930 | $84.0M | Reduce -0.3% |
| PG The Procter & Gamble Co. | 0.41% | 468,413 | $78.5M | Add +9.3% |
| TSM Taiwan Semiconductor-SP ADR | 0.36% | 345,318 | $68.2M | Reduce -3.8% |
| NTR Nutrien Ltd. | 0.35% | 1,500,685 | $67.0M | Reduce -2.6% |
| LLY Eli Lilly & Co. | 0.33% | 81,356 | $62.8M | Reduce -13.7% |
| BEP Brookfield Renewable Partner | 0.32% | 2,715,043 | $61.4M | Add +13.5% |
| GIB Cgi Inc. | 0.32% | 558,678 | $61.0M | Add +5.5% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.31% | 532,077 | $59.2M | Reduce -25.9% |
| WCN Waste Connections Inc. | 0.31% | 340,396 | $58.1M | Add +12.0% |
| BAM Brookfield Asset Mgmt-A | 0.30% | 1,068,954 | $57.8M | Reduce -0.7% |
| CRM Salesforce Inc. | 0.29% | 166,795 | $55.8M | Add +12.5% |
| EMR Emerson Electric Co. | 0.28% | 421,745 | $52.3M | Add +9.8% |
| VOO Vanguard S&P 500 ETF | 0.27% | 96,759 | $52.1M | Add +5.8% |
| CCJ Cameco Corp. | 0.27% | 1,011,962 | $51.9M | Add +5.7% |
| PLD Prologis Inc. | 0.27% | 486,692 | $51.4M | Add +20.4% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.27% | 1,160,663 | $51.0M | Add +3.9% |
| BIPC Brookfield Infrastructure-A | 0.26% | 1,247,007 | $49.5M | Add +3.7% |
| TFII Tfi International Inc. | 0.25% | 345,734 | $46.5M | Add +1.0% |
| ASML ASML Holding NV-NY Reg SHS | 0.24% | 65,666 | $45.5M | Add +9.3% |
| QQQ Invesco QQQ Trust Series 1 | 0.23% | 85,090 | $43.5M | New |
| ORCL Oracle Corp. | 0.23% | 260,001 | $43.3M | Add +17.0% |
| TSLA Tesla Inc. | 0.22% | 103,069 | $41.6M | Add +9.6% |
| SOBO South Bow Corp. | 0.21% | 1,715,185 | $40.4M | Reduce -7.8% |
| BKNG Booking Holdings Inc. | 0.21% | 7,853 | $39.0M | Add +1.6% |
| TRI Thomson Reuters Corp. | 0.20% | 244,499 | $38.8M | Add +11.3% |
| BEPC Brookfield Renewable Corp. | 0.20% | 1,386,954 | $38.3M | Reduce -0.9% |
| DEO Diageo PLC-Sponsored ADR | 0.20% | 300,622 | $38.2M | Reduce -15.2% |
| VCIT Vanguard Int-Term Corporate | 0.20% | 476,120 | $38.2M | Reduce -5.0% |
| UBER Uber Technologies Inc. | 0.20% | 628,974 | $37.9M | Add +53.8% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.19% | 295,313 | $35.7M | Add +16.5% |
| GS Goldman Sachs Group Inc. | 0.18% | 61,185 | $35.0M | Add +29.8% |
| SYK Stryker Corp. | 0.18% | 94,459 | $34.0M | Add +10.7% |
| KO The Coca-Cola Co. | 0.18% | 541,707 | $33.7M | Add +9.3% |
| IDV iShares International Select | 0.18% | 1,231,852 | $33.7M | Add +2.5% |
| BOND PIMCO Active Bond Exchange-T | 0.18% | 370,718 | $33.5M | Reduce -5.1% |
| NKE Nike Inc. Class B | 0.17% | 438,831 | $33.2M | Reduce -6.2% |
| TMO Thermo Fisher Scientific Inc. | 0.17% | 63,585 | $33.1M | Add +57.3% |
| CSCO Cisco Systems Inc. | 0.17% | 550,137 | $32.6M | Reduce -13.5% |
| SDY SS SPDR S&P Dividend ETF | 0.17% | 239,506 | $31.6M | Reduce -1.0% |
| MRK Merck & Co. Inc. | 0.17% | 316,551 | $31.5M | Reduce -0.1% |
| GLD SPDR Gold Shares | 0.16% | 127,775 | $30.9M | Add +44.2% |
| AEM Agnico Eagle Mines Ltd. | 0.16% | 382,229 | $29.9M | Reduce -11.7% |
| NFLX Netflix Inc. | 0.16% | 33,293 | $29.7M | Add +7.7% |
| LULU Lululemon Athletica Inc. | 0.15% | 76,363 | $29.2M | Reduce -13.9% |
| CAT Caterpillar Inc. | 0.15% | 77,181 | $28.0M | Add +2.1% |
| XOM Exxon Mobil Corp. | 0.15% | 260,220 | $28.0M | Add +7.0% |
| NOW ServiceNow Inc. | 0.14% | 24,752 | $26.2M | Add +4.4% |
| VIG Vanguard Dividend Apprec ETF | 0.14% | 131,237 | $25.7M | Add +0.2% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.13% | 285,791 | $24.6M | Add +2.1% |
| SBUX Starbucks Corp. | 0.13% | 266,526 | $24.3M | Reduce -9.9% |
| ABBV Abbvie Inc. | 0.13% | 134,924 | $24.0M | Reduce -1.9% |
| MGA Magna International Inc. | 0.13% | 570,713 | $23.8M | Reduce -30.8% |
Other holdings (2): bonds, preferreds, convertibles and warrants · $2.8M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 1,489 | $1.8M | Add +1.2% |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 834 | $996K | Add +1.8% |
Total filed on the 13F, all lines: $19.0B.
Portfolio Sells Q3 2024 → Q4 2024
| BCE Bce Inc. | Reduce -40.8% | 0.60% | −0.95 |
| TD Toronto-Dominion Bank | Reduce -4.7% | 3.10% | −0.82 |
| TU Telus Corp. | Reduce -8.6% | 1.26% | −0.47 |
| BNS Bank of Nova Scotia | Reduce -1.8% | 3.96% | −0.20 |
| PEP Pepsico Inc. | Reduce -14.3% | 0.56% | −0.18 |
| LLY Eli Lilly & Co. | Reduce -13.7% | 0.33% | −0.12 |
| AZN Astrazeneca PLC-Spons ADR | Reduce -44.0% | 0.08% | −0.09 |
| AMD Advanced Micro Devices | Reduce -12.9% | 0.12% | −0.07 |
| TBIL F/M US Treasury 3 Month Bill | Reduce -72.8% | 0.02% | −0.07 |
| MDT Medtronic PLC | Reduce -0.3% | 0.44% | −0.07 |
| DEO Diageo PLC-Sponsored ADR | Reduce -15.2% | 0.20% | −0.07 |
| CVE Cenovus Energy Inc. | Reduce -34.2% | 0.09% | −0.06 |
| PFE Pfizer Inc. | Reduce -29.2% | 0.11% | −0.06 |
| VRN Veren Inc. | Reduce -42.1% | 0.05% | −0.06 |
| DIS The Walt Disney Co. | Reduce -25.9% | 0.31% | −0.06 |
| MGA Magna International Inc. | Reduce -30.8% | 0.13% | −0.06 |
| CVS CVS Health Corp. | Reduce -43.5% | 0.03% | −0.05 |
| NKE Nike Inc. Class B | Reduce -6.2% | 0.17% | −0.05 |
| BEPC Brookfield Renewable Corp. | Reduce -0.9% | 0.20% | −0.04 |
| AGG iShares Core U.S. Aggregate | Reduce -23.6% | 0.11% | −0.04 |
| NTR Nutrien Ltd. | Reduce -2.6% | 0.35% | −0.04 |
| KLAC KLA Corp. | Reduce -29.2% | 0.05% | −0.04 |
| JEPI JPMorgan Equity Premium Inco | Reduce -73.0% | 0.01% | −0.04 |
| MFC Manulife Financial Corp. | Reduce -4.4% | 1.75% | −0.04 |
| BTAL Agf US Market Neutral Anti-B | Sold out | 0.00% | −0.04 |
| IVV iShares Core S&P 500 ETF | Reduce -23.7% | 0.12% | −0.04 |
| OTEX Open Text Corp. | Reduce -28.0% | 0.06% | −0.04 |
| C Citigroup Inc. | Reduce -34.7% | 0.09% | −0.04 |
| ABEV Ambev SA-ADR | Reduce -88.1% | 0.00% | −0.04 |
| VZ Verizon Communications Inc. | Reduce -12.4% | 0.11% | −0.03 |
| TRP TC Energy Corp. | Reduce -6.8% | 2.12% | −0.03 |
| CMCSA Comcast Corp. Class A | Reduce -29.3% | 0.06% | −0.03 |
| AMT American Tower Corp. | Reduce -0.7% | 0.10% | −0.03 |
| AEM Agnico Eagle Mines Ltd. | Reduce -11.7% | 0.16% | −0.03 |
| CVX Chevron Corp. | Reduce -38.3% | 0.04% | −0.03 |
| AMGN Amgen Inc. | Reduce -14.1% | 0.06% | −0.03 |
| MCK McKesson Corp. | Reduce -37.4% | 0.07% | −0.03 |
| MRK Merck & Co. Inc. | Reduce -0.1% | 0.17% | −0.03 |
| SBUX Starbucks Corp. | Reduce -9.9% | 0.13% | −0.03 |
| AQN Algonquin Power & Utilities | Reduce -20.2% | 0.05% | −0.03 |
| TECK Teck Resources Ltd.-CLS B | Reduce -1.3% | 0.08% | −0.02 |
| SGOV iShares 0-3 Month Treasury B | Reduce -21.0% | 0.08% | −0.02 |
| UL Unilever PLC | Reduce -12.4% | 0.07% | −0.02 |
| VCIT Vanguard Int-Term Corporate | Reduce -5.0% | 0.20% | −0.02 |
| NEM Newmont Corp. | Reduce -42.6% | 0.01% | −0.02 |
| B Barrick Gold Corp. | Reduce -14.8% | 0.04% | −0.02 |
| MMM 3M Co. | Reduce -26.0% | 0.05% | −0.02 |
| AIG American International Group | Reduce -23.5% | 0.06% | −0.02 |
| LMT Lockheed Martin Corp. | Reduce -18.8% | 0.04% | −0.02 |
| SOBO South Bow Corp. | Reduce -7.8% | 0.21% | −0.02 |
Portfolio Buys Q3 2024 → Q4 2024
| AMZN Amazon.com Inc. | Add +6.8% | 3.24% | +0.62 |
| V Visa Inc. Class A | Add +5.2% | 2.55% | +0.41 |
| NVDA Nvidia Corp. | Add +9.8% | 2.14% | +0.35 |
| JPM JPMorgan Chase & Co. | Add +8.7% | 1.93% | +0.34 |
| AAPL Apple Inc. | Add +2.3% | 4.46% | +0.34 |
| GOOGL Alphabet Inc. Class A | Add +4.4% | 2.06% | +0.30 |
| QQQ Invesco QQQ Trust Series 1 | New | 0.23% | +0.23 |
| BN Brookfield Corp. | Add +2.4% | 2.07% | +0.17 |
| SHOP Shopify Inc. Class A | Add +3.9% | 0.62% | +0.16 |
| GOOG Alphabet Inc. Class C | Add +0.5% | 1.44% | +0.16 |
| AVGO Broadcom Inc. | Add +2.9% | 0.61% | +0.16 |
| ENB Enbridge Inc. | Add +1.4% | 3.24% | +0.14 |
| BMO Bank of Montreal | Add +1.5% | 1.78% | +0.12 |
| COST Costco Wholesale Corp. | Add +3.7% | 1.86% | +0.10 |
| RTX RTX Corp. | New | 0.09% | +0.09 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +16.1% | 0.65% | +0.09 |
| TSLA Tesla Inc. | Add +9.6% | 0.22% | +0.09 |
| CRM Salesforce Inc. | Add +12.5% | 0.29% | +0.08 |
| IWM iShares Russell 2000 ETF | Add +101.1% | 0.12% | +0.06 |
| SU Suncor Energy Inc. | Add +13.5% | 0.83% | +0.06 |
| FTNT Fortinet Inc. | New | 0.06% | +0.06 |
| GS Goldman Sachs Group Inc. | Add +29.8% | 0.18% | +0.06 |
| HON Honeywell International Inc. | Add +4.9% | 0.52% | +0.06 |
| BLK BlackRock Inc. | Add +4.9% | 0.51% | +0.05 |
| EMR Emerson Electric Co. | Add +9.8% | 0.28% | +0.05 |
| PWR Quanta Services Inc. | New | 0.05% | +0.05 |
| GLD SPDR Gold Shares | Add +44.2% | 0.16% | +0.05 |
| BMY Bristol-Myers Squibb Co. | Add +66.1% | 0.10% | +0.04 |
| ACN Accenture PLC Class A | Add +10.1% | 0.57% | +0.04 |
| MSFT Microsoft Corp. | Add +4.8% | 4.26% | +0.04 |
| SLF Sun Life Financial Inc. | Add +3.3% | 0.93% | +0.04 |
| TMO Thermo Fisher Scientific Inc. | Add +57.3% | 0.17% | +0.04 |
| META Meta Platforms Inc. Class A | Add +2.9% | 1.15% | +0.04 |
| IJH iShares Core S&P Midcap ETF | Add +139.4% | 0.07% | +0.04 |
| NFLX Netflix Inc. | Add +7.7% | 0.16% | +0.04 |
| IEFA iShares Core MSCI Eafe ETF | Add +112.7% | 0.08% | +0.04 |
| UBER Uber Technologies Inc. | Add +53.8% | 0.20% | +0.04 |
| MA Mastercard Inc. Class A | Add +2.5% | 0.47% | +0.03 |
| TEL Te Connectivity PLC | New | 0.03% | +0.03 |
| BAC Bank of America Corp. | Add +3.9% | 0.27% | +0.03 |
| BKNG Booking Holdings Inc. | Add +1.6% | 0.21% | +0.03 |
| CCJ Cameco Corp. | Add +5.7% | 0.27% | +0.03 |
| TJX TJX Companies Inc. | Add +16.5% | 0.19% | +0.03 |
| CM Can Imperial BK of Commerce | Add +0.5% | 1.45% | +0.03 |
| MS Morgan Stanley | Add +26.8% | 0.08% | +0.03 |
| NTAP Netapp Inc. | Add +861.5% | 0.03% | +0.03 |
| FSV Firstservice Corp. | New | 0.03% | +0.03 |
| ORCL Oracle Corp. | Add +17.0% | 0.23% | +0.03 |
| NOW ServiceNow Inc. | Add +4.4% | 0.14% | +0.02 |
| IJR iShares Core S&P Small-Cap E | New | 0.02% | +0.02 |
Notes & Other Activity Q3 2024 → Q4 2024
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Add +1.2% | 1,489 | $1.8M |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | Add +1.8% | 834 | $996K |
| CORZZ Core Scientific Inc. - 29 | *W EXP 01/23/202 | Sold out | 56,969 | $675Kbefore exit |
| CVE.WS Cenovus Energy Inc. -CW26 | *W EXP 01/01/202 | Sold out | 10,015 | $117Kbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 913 | $26.8B | RY, TD, BNS, AAPL, MSFT |
| Q1 2026 | 911 | $24.3B | RY, TD, BNS, AAPL, MSFT |
| Q4 2025 | 889 | $24.8B | RY, BNS, TD, MSFT, AAPL |
| Q3 2025 | 901 | $23.5B | RY, MSFT, BNS, TD, AAPL |
| Q2 2025 | 856 | $21.2B | RY, MSFT, TD, BNS, AAPL |
| Q1 2025 | 842 | $18.6B | RY, AAPL, MSFT, BNS, TD |
| Q4 2024 | 853 | $19.0B | RY, AAPL, MSFT, BNS, ENB |
| Q3 2024 | 830 | $18.7B | RY, MSFT, BNS, AAPL, TD |
| Q2 2024 | 820 | $17.1B | RY, MSFT, AAPL, BNS, TD |
| Q1 2024 | 821 | $16.8B | RY, MSFT, BNS, TD, AAPL |