BANK OF NOVA SCOTIA TRUST CO
Long book
$1.16B
Q1 2026
Positions
161
Top-10 weight
44%
concentration
Last quarter
+9.3%
SPY +14.8%
Turnover
11%
of book per quarter
Strategy in plain words
auto-generated from filingsBANK OF NOVA SCOTIA TRUST CO is a bank/brokerage whose filings mix client and house positions, running a $1.16B US long book across 161 positions.
The portfolio is moderately concentrated (top 10 ≈ 44% of the book). Turnover is modest: positions are typically held for years. Current anchor positions: ROYAL BANK OF CANADA, TORONTO-DOMINION BANK, BANK OF MONTREAL, TC ENERGY CORP, ENBRIDGE INC.
Over the last 9 quarters its long book ran on average 0.5pp per quarter behind the S&P 500, beating the index in 4 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-1.9%
Q2 2024
+9.5%
Q3 2024
-2.7%
Q4 2024
+0.4%
Q1 2025
+9.1%
Q2 2025
+7.0%
Q3 2025
+4.0%
Q4 2025
+1.3%
Q1 2026
+9.3%
Sector allocation
Financials 31%
Energy 14%
Technology 11%
Utilities 9%
Consumer discretionary 8%
Industrials 6%
Services media 4%
Communications 4%
Long book by quarter
What does BANK OF own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| RY ROYAL BANK OF CANADA | Financials | 613.6K | $99.3M | 8.5% | -2.4% |
| TD TORONTO-DOMINION BANK | Financials | 746.3K | $69.6M | 6.0% | -1.8% |
| BMO BANK OF MONTREAL | Financials | 496.0K | $67.1M | 5.8% | -3.0% |
| TRP TC ENERGY CORP | Utilities | 877.6K | $54.9M | 4.7% | +0.1% |
| ENB ENBRIDGE INC | Energy | 986.6K | $53.4M | 4.6% | -0.8% |
| CNQ CANADIAN NATURAL RESOURCES | Energy | 970.4K | $47.3M | 4.1% | +9.6% |
| MSFT MICROSOFT CORP | Technology | 84.8K | $31.4M | 2.7% | +0.2% |
| CNI CANADIAN NATL RAILWAY CO | Industrials | 296.4K | $30.5M | 2.6% | +1.2% |
| TU TELUS CORP | Communications | 2.4M | $30.3M | 2.6% | +0.2% |
| MFC MANULIFE FINANCIAL CORP | Financials | 817.1K | $28.1M | 2.4% | +2.3% |
| SU SUNCOR ENERGY INC | Energy | 409.0K | $27.0M | 2.3% | +8.9% |
| GOOGL ALPHABET INC-CL A | Technology | 93.3K | $26.8M | 2.3% | -5.0% |
| BN BROOKFIELD CORP | Real estate | 661.4K | $26.8M | 2.3% | +1.3% |
| QSR RESTAURANT BRANDS INTERN | Consumer discretionary | 328.4K | $24.3M | 2.1% | +0.1% |
| PBA PEMBINA PIPELINE CORP | Energy | 530.8K | $23.8M | 2.0% | +10.0% |
| CP CANADIAN PACIFIC KANSAS CITY | Industrials | 299.2K | $23.5M | 2.0% | -2.5% |
| FTS FORTIS INC | Utilities | 399.9K | $22.3M | 1.9% | +2.1% |
| SLF SUN LIFE FINANCIAL INC | Financials | 353.7K | $22.1M | 1.9% | +14.0% |
| JNJ JOHNSON & JOHNSON | Healthcare | 85.6K | $20.9M | 1.8% | +1.8% |
| WCN WASTE CONNECTIONS INC | Utilities | 118.8K | $19.3M | 1.7% | +3.1% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 18.4K | $18.3M | 1.6% | -2.3% |
| FNV FRANCO-NEVADA CORP | Materials | 73.0K | $18.0M | 1.5% | -6.6% |
| AAPL APPLE INC | Technology | 70.8K | $18.0M | 1.5% | -0.7% |
| JPM JPMORGAN CHASE & CO | Financials | 60.7K | $17.9M | 1.5% | -4.4% |
| V VISA INC-CLASS A SHARES | Services media | 55.5K | $16.8M | 1.4% | +3.3% |
| NTR NUTRIEN LTD | Other | 220.1K | $16.6M | 1.4% | -1.2% |
| AMZN AMAZON.COM INC | Consumer discretionary | 79.6K | $16.6M | 1.4% | -1.0% |
| BNS BANK OF NOVA SCOTIA | Financials | 213.5K | $14.8M | 1.3% | +1.0% |
| TEL TE CONNECTIVITY PLC | Consumer discretionary | 62.7K | $13.1M | 1.1% | -1.3% |
| CM CAN IMPERIAL BK OF COMMERCE | Financials | 118.3K | $11.2M | 1.0% | +11.6% |
| MDT MEDTRONIC PLC | Healthcare | 118.9K | $10.3M | 0.9% | +3.4% |
| RCI ROGERS COMMUNICATIONS INC-B | Communications | 255.6K | $9.8M | 0.8% | +10.1% |
| GIB CGI INC | Services media | 127.0K | $9.3M | 0.8% | -4.0% |
| DHR DANAHER CORP | Technology | 48.2K | $9.1M | 0.8% | -2.3% |
| CME CME GROUP INC | Financials | 27.7K | $8.2M | 0.7% | -0.4% |
| LIN LINDE PLC | Materials | 16.3K | $8.1M | 0.7% | +0.3% |
| SHOP SHOPIFY INC - CLASS A | Technology | 60.3K | $7.2M | 0.6% | +4.3% |
| CRM SALESFORCE INC | Technology | 35.0K | $6.5M | 0.6% | +1.1% |
| RBA RB GLOBAL INC | Services media | 65.5K | $6.3M | 0.5% | -5.9% |
| MA MASTERCARD INC - A | Services media | 12.3K | $6.1M | 0.5% | -39.2% |
| TRI4EUR THOMSON REUTERS CORP | — | 67.8K | $6.1M | 0.5% | +49.0% |
| TJX TJX COMPANIES INC | Consumer discretionary | 37.0K | $5.9M | 0.5% | +3.1% |
| GOOG ALPHABET INC-CL C | Technology | 20.0K | $5.7M | 0.5% | 0.0% |
| HON HONEYWELL INTERNATIONAL INC | Industrials | 25.3K | $5.7M | 0.5% | +3.8% |
| DIS WALT DISNEY CO/THE | Services media | 56.0K | $5.4M | 0.5% | +7.0% |
| ABT ABBOTT LABORATORIES | Healthcare | 52.3K | $5.4M | 0.5% | +13.5% |
| EMR EMERSON ELECTRIC CO | Industrials | 39.7K | $5.2M | 0.4% | -10.5% |
| AEM AGNICO EAGLE MINES LTD | Materials | 23.9K | $4.8M | 0.4% | +1.3% |
| NVDA NVIDIA CORP | Technology | 24.6K | $4.3M | 0.4% | +24.4% |
| WPM WHEATON PRECIOUS METALS CORP | Materials | 32.3K | $4.2M | 0.4% | +33.4% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 13, 2026 | 283 | $1.16B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 12, 2026 | 285 | $1.15B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 242 | $1.08B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 13, 2025 | 235 | $1.02B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 9, 2025 | 241 | $937.3M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 13, 2025 | 245 | $947.3M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 13, 2024 | 254 | $984.9M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 246 | $895.5M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 14, 2024 | 255 | $928.9M | canonical | SEC ↗ |