Bank of Nova Scotia Investment Activity in Q3 2026
Scotiabank's portfolio analysis for the period ending June 30, 2026 shows significant changes across various sectors.
As part of our ongoing coverage of institutional investment activity, we've analyzed Scotiabank's portfolio holdings as reported on
Focused Activity in Key Sectors
Bank of Nova Scotia appears to have concentrated its activity primarily within the Technology sector this quarter. Notable movements include significant reductions in positions held previously, alongside strategic additions to sectors like Energy and some other categories where changes occurred.
Sales Dominated by Financial Services Reductions
The most pronounced selling activity was observed across several holdings in the KEYCORP (symbol KEY) and related Manulife holdings. The bank sold a substantial portion of its investment in KeyCorp, reducing shares by approximately 3.21% quarter-over-quarter (-523k shares). Similarly, the position in MANULIFE FINL CORP (MFC) saw a significant reduction of about 29.0% or roughly 3.3 million more shares sold.
Technology Sector Shifts
In the Technology sector, which remains a major focus for Scotiabank's portfolio allocation, there were notable changes. The bank significantly reduced its position in NVIDIA CORPORATION (NVDA), selling approximately 24.28% of the shares held (-564k shares). Another major Technology holding, APPLE INC (AAPL), also experienced a substantial reduction in its position during this period.
Purchases Targeting Energy and Beyond
The bank's buying activity was particularly evident in the Energy sector. Significant purchases were noted for ENBRIDGE INC (ENB), where shares increased by about 58.4% (+3.3 million shares). Similarly, the position in CNQ grew substantially with a nearly 49.24% increase in holdings over the quarter.
Other Notable Changes
Activity was also observed outside these major sectors. The bank sold its entire stake in HUBBAY MINERALS INC (HBM). Additionally, there were notable reductions in holdings of AMAZON COM INC (AMZN), which decreased by about 56.19% (-463k shares). The Consumer Defensive sector saw a reduction in the position of WALMART INC (WMT) during this period.
No Activity Disclosed for Some Categories
In certain categories, no changes were disclosed according to the available data. For instance, there was no activity reported in the Healthcare, Industrials, or Utilities sectors during this specific quarter.