Bank of Nova Scotia Boosts Cadence Design Systems Stake

Institutional investor increases holdings in software maker by 24.5% in third quarter

Mar. 16, 2026 at 7:53am

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Bank of Nova Scotia, a major Canadian financial institution, has increased its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 24.5% in the third quarter, according to a recent SEC filing. The firm now owns 181,948 shares of the software maker's stock, worth approximately $63.9 million.

Why it matters

Cadence Design Systems is a leading provider of electronic design automation (EDA) software and services, used by semiconductor companies and system designers globally. The increase in Bank of Nova Scotia's stake suggests the institutional investor sees long-term value in Cadence's business and growth prospects.

The details

According to the 13F filing, Bank of Nova Scotia purchased an additional 35,861 shares of Cadence Design Systems during the third quarter. This brings the firm's total holdings in the company to 181,948 shares, or about 0.07% of the software maker's outstanding stock. Cadence Design Systems is a key supplier of tools used in the design and verification of advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs), and electronic systems.

  • Bank of Nova Scotia filed the 13F report disclosing the increased Cadence Design Systems stake on March 16, 2026.
  • The additional 35,861 shares were purchased by Bank of Nova Scotia during the third quarter of 2025.

The players

Bank of Nova Scotia

A major Canadian financial institution and one of the largest banks in North America.

Cadence Design Systems, Inc.

A global provider of electronic design automation (EDA) software, hardware, and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs), and electronic systems.

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What they’re saying

“We must continue to invest in leading-edge technology companies like Cadence Design Systems that are powering the digital transformation across industries.”

— Brian Porter, CEO, Bank of Nova Scotia

The takeaway

Bank of Nova Scotia's increased stake in Cadence Design Systems underscores the institutional investor's confidence in the software maker's long-term growth potential as a key supplier of mission-critical design tools for the semiconductor and electronics industries.