Scotia Capital INC.
Reported US equity positions for Q1 2026 — $24.3B across 916 positions.
| Holding | Reported value | Share of portfolio | Shares |
|---|---|---|---|
| RY Royal Bank Of Canada | $1.4B | 5.9% | 8,898,150 |
| TD The Toronto Dominion Bank | $987.4M | 4.1% | 10,586,822 |
| BNS Bank Nova Scotia Halifax Pfd 3 Ordinary Shares | $929.0M | 3.8% | 13,422,749 |
| AAPL Apple Inc. | $832.3M | 3.4% | 3,279,655 |
| MSFT Microsoft Corporation | $815.1M | 3.4% | 2,201,821 |
| ENB Enbridge Inc | $788.5M | 3.2% | 14,599,455 |
| AMZN Amazon.com, Inc. | $641.4M | 2.6% | 3,079,767 |
| TRP TC Energy Corporation | $573.6M | 2.4% | 9,247,515 |
| NVDA NVIDIA Corporation | $571.2M | 2.3% | 3,275,357 |
| GOOGL Alphabet Inc. | $538.9M | 2.2% | 1,874,006 |
| FTS Fortis Inc. | $523.5M | 2.2% | 9,392,836 |
| JPM JP Morgan Chase & Co. | $476.8M | 2.0% | 1,620,878 |
| V Visa Inc. | $469.2M | 1.9% | 1,552,308 |
| BMO Bank Of Montreal | $466.0M | 1.9% | 3,461,718 |
| CRC California Resources Corporation | $460.0M | 1.9% | 9,481,269 |
| BN Brookfield Corporation Class A Limited Voting Shares | $448.2M | 1.8% | 11,077,640 |
| CM Canadian Imperial Bank of Commerce | $414.3M | 1.7% | 4,380,269 |
| CNR Core Natural Resources, Inc. | $402.0M | 1.7% | 3,924,912 |
| GOOG Alphabet Inc. - Class C Capital Stock | $393.0M | 1.6% | 1,370,090 |
| COST Costco Wholesale Corporation | $387.3M | 1.6% | 388,703 |
| MFC Manulife Financial Corporation | $373.2M | 1.5% | 10,873,355 |
| BRK.B Berkshire Hathaway Inc. | $332.2M | 1.4% | 693,312 |
| JNJ Johnson & Johnson | $301.1M | 1.2% | 1,231,920 |
| PPL PPL Corporation | $299.3M | 1.2% | 6,746,275 |
| SU Suncor Energy Inc. | $290.0M | 1.2% | 4,385,717 |
| CP Canadian Pacific Kansas City Limited | $288.0M | 1.2% | 3,691,285 |
| META Meta Platforms, Inc. | $285.8M | 1.2% | 499,468 |
| G16252101 Brookfield Infrastructure Pa | $266.0M | 1.1% | 7,381,068 |
| EMA Emera Incorporated | $240.5M | 1.0% | 4,670,078 |
| T AT&T Inc. | $217.4M | 0.9% | 16,940,624 |
| WMT Walmart Inc. | $215.8M | 0.9% | 1,736,208 |
| SLF Sun Life Financial Inc. | $203.6M | 0.8% | 3,262,998 |
| HD The Home Depot, Inc. | $192.3M | 0.8% | 584,606 |
| AEM Agnico Eagle Mines Limited | $177.0M | 0.7% | 872,774 |
| WM Waste Management, Inc. | $167.0M | 0.7% | 726,641 |
| SPY State Street SPDR S&P 500 ETF Trust | $161.8M | 0.7% | 248,761 |
| AVGO Broadcom Inc. | $161.1M | 0.7% | 520,542 |
| SHOP Shopify Inc. - Class A Subordinate Voting Shares | $154.7M | 0.6% | 1,305,851 |
| RCI Rogers Communication, Inc. | $145.5M | 0.6% | 3,816,866 |
| TSM Taiwan Semiconductor Manufacturing Company Ltd. | $124.4M | 0.5% | 367,994 |
| WPM Wheaton Precious Metals Corp Common Shares (Canada) | $118.1M | 0.5% | 909,877 |
| PANW Palo Alto Networks, Inc. | $108.7M | 0.4% | 677,820 |
| BLK BlackRock, Inc. | $108.5M | 0.4% | 112,811 |
| MCD McDonald's Corporation | $103.1M | 0.4% | 331,607 |
| GLD SPDR Gold Shares | $98.5M | 0.4% | 229,013 |
| QSR Restaurant Brands International Inc. | $96.7M | 0.4% | 1,320,532 |
| CCO Clear Channel Outdoor Holdings, Inc. | $96.1M | 0.4% | 886,907 |
| EMR Emerson Electric Company | $95.7M | 0.4% | 730,127 |
| BCE BCE, Inc. | $94.8M | 0.4% | 3,766,099 |
| UBER Uber Technologies, Inc. | $94.2M | 0.4% | 1,309,599 |
| G16258108 Brookfield Renewable Energy | $93.7M | 0.4% | 2,878,619 |
| PG The Procter & Gamble Company | $88.8M | 0.4% | 614,544 |
| PLD Prologis, Inc. | $87.2M | 0.4% | 659,330 |
| VOO Vanguard S&P 500 ETF | $86.5M | 0.4% | 144,765 |
| NTR Nutrien Ltd. | $86.0M | 0.4% | 1,146,857 |
| BAM Brookfield Asset Management Inc Class A Limited Voting Shares | $85.2M | 0.4% | 1,930,397 |
| N07059210 Asml Hldg Nv | $84.7M | 0.3% | 64,097 |
| PEP PepsiCo, Inc. | $84.0M | 0.3% | 541,084 |
| LLY Eli Lilly and Company | $79.9M | 0.3% | 86,840 |
| G5960L103 Medtronic PLC | $75.7M | 0.3% | 873,375 |
Long US equity positions only, as filed. 13F does not cover short positions, cash, bonds or non-US listings, so this is not the whole portfolio.
What changed last quarter
| Holding | Change | Now | Was | Shares |
|---|---|---|---|---|
| RY Royal Bank Of Canada | Trim | $1.4B | $1.5B | -2% |
| BNS Bank Nova Scotia Halifax Pfd 3 Ordinary Shares | Trim | $929.0M | $1.0B | -3% |
| MSFT Microsoft Corporation | Add | $815.1M | $982.6M | +8% |
| GOOGL Alphabet Inc. | Trim | $538.9M | $640.4M | -8% |
| JPM JP Morgan Chase & Co. | Trim | $476.8M | $548.2M | -5% |
| V Visa Inc. | Trim | $469.2M | $556.4M | -2% |
| BMO Bank Of Montreal | Trim | $466.0M | $464.5M | -3% |
| CRC California Resources Corporation | Add | $460.0M | $306.4M | +5% |
| BN Brookfield Corporation Class A Limited Voting Shares | Trim | $448.2M | $514.0M | -1% |
| CM Canadian Imperial Bank of Commerce | Add | $414.3M | $378.8M | +5% |
| CNR Core Natural Resources, Inc. | Add | $402.0M | $379.6M | +2% |
| GOOG Alphabet Inc. - Class C Capital Stock | Trim | $393.0M | $447.0M | -4% |
| COST Costco Wholesale Corporation | Trim | $387.3M | $339.5M | -1% |
| MFC Manulife Financial Corporation | Trim | $373.2M | $404.7M | -3% |
| BRK.B Berkshire Hathaway Inc. | Trim | $332.2M | $354.4M | -2% |
| JNJ Johnson & Johnson | Trim | $301.1M | $273.4M | -7% |
| PPL PPL Corporation | Trim | $299.3M | $261.7M | -2% |
| CP Canadian Pacific Kansas City Limited | Trim | $288.0M | $293.0M | -7% |
| META Meta Platforms, Inc. | Add | $285.8M | $314.3M | +5% |
| G16252101 Brookfield Infrastructure Pa | Trim | $266.0M | $264.2M | -3% |
| T AT&T Inc. | Add | $217.4M | $220.3M | +1% |
| WMT Walmart Inc. | Trim | $215.8M | $199.3M | -3% |
| HD The Home Depot, Inc. | Add | $192.3M | $195.4M | +3% |
| AEM Agnico Eagle Mines Limited | Add | $177.0M | $136.7M | +8% |
| WM Waste Management, Inc. | Trim | $167.0M | $168.5M | -5% |
| SPY State Street SPDR S&P 500 ETF Trust | Trim | $161.8M | $174.4M | -3% |
| SHOP Shopify Inc. - Class A Subordinate Voting Shares | Add | $154.7M | $186.7M | +12% |
| RCI Rogers Communication, Inc. | Trim | $145.5M | $149.2M | -4% |
| TSM Taiwan Semiconductor Manufacturing Company Ltd. | Trim | $124.4M | $122.9M | -9% |
| WPM Wheaton Precious Metals Corp Common Shares (Canada) | Add | $118.1M | $86.5M | +23% |
| PANW Palo Alto Networks, Inc. | Add | $108.7M | $89.8M | +39% |
| BLK BlackRock, Inc. | Trim | $108.5M | $123.6M | -2% |
| GLD SPDR Gold Shares | Add | $98.5M | $74.8M | +21% |
| QSR Restaurant Brands International Inc. | Trim | $96.7M | $99.1M | -9% |
| CCO Clear Channel Outdoor Holdings, Inc. | Trim | $96.1M | $89.5M | -9% |
| EMR Emerson Electric Company | Trim | $95.7M | $106.5M | -9% |
| BCE BCE, Inc. | Trim | $94.8M | $92.0M | -3% |
| UBER Uber Technologies, Inc. | Add | $94.2M | $92.7M | +15% |
| G16258108 Brookfield Renewable Energy | Add | $93.7M | $76.3M | +2% |
| PG The Procter & Gamble Company | Add | $88.8M | $86.4M | +2% |
New and exited positions are only shown for managers whose entire filed portfolio fits inside the positions stored here. For a manager filing more than that, a holding leaving the stored set is indistinguishable from a holding being sold, so those are reported as adds and trims only.
What a 13F is
Any institutional manager exercising discretion over more than $100 million in US-listed equities must file a Form 13F with the SEC within 45 days of each quarter end, listing what they held on the last day of that quarter. The threshold was set in 1975 and has never been raised, so the filer population now runs to several thousand.
The four things it does not tell you
- It is stale. A filing describes positions as of quarter end and can arrive 45 days later. A manager who sold everything in week one of the new quarter files the same document as one who held.
- Long US equities only. No short positions, no cash, no bonds, no commodities, no foreign listings. A fund that looks heavily long in a 13F may be hedged in instruments that never appear.
- Not the whole firm. Assets are reported by the entity with discretion, so one manager can file under several CIKs, and the figure here is what that entity reported.
- Confidential treatment exists. A manager can apply to delay disclosing a position while building it. Those holdings appear later, if at all.
Why the biggest filers are not the interesting ones
The largest managers by reported value are index providers — they hold nearly everything, in proportion to the indices they track, because clients asked them to. Reading their filings for conviction is a category error. The filings worth attention are concentrated ones, where a small number of positions make up most of the portfolio, since that reflects a decision rather than a mandate.
The share-of-portfolio column is the one to read for this. A position that is 15% of a fund says something; the same dollar amount at 0.2% of an index tracker does not.
Where this comes from
The SEC's own quarterly Form 13F structured data sets, parsed here rather than bought from a vendor. Holdings are identified in the filings by CUSIP, and the mapping from CUSIP to ticker is the awkward part — that identifier is licensed rather than public, so the mapping is resolved through OpenFIGI and built up over time. Around 95% of reported value currently sits on a resolved ticker; the rest shows its CUSIP.
The rest of the section is on the Markets overview — including insider transactions, which are the same idea at the individual level, and the correlation finder, where each ticker's page carries its institutional ownership.