Bank of Nova Scotia Increases Stake in AutoZone

The Canadian bank raised its position in the auto parts retailer by 40% in the third quarter.

Mar. 16, 2026 at 7:53am

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Bank of Nova Scotia, a Canadian financial institution, increased its stake in AutoZone, Inc. (NYSE: AZO) by 40% in the third quarter, according to a recent filing with the U.S. Securities and Exchange Commission. The bank now owns 16,316 shares of the auto parts retailer's stock, worth approximately $70 million as of the most recent filing.

Why it matters

The increase in Bank of Nova Scotia's position in AutoZone suggests the bank sees long-term growth potential in the company. As one of the largest auto parts retailers in the United States, AutoZone's performance is closely watched by investors as an indicator of consumer spending and the health of the automotive aftermarket industry.

The details

According to the SEC filing, Bank of Nova Scotia purchased an additional 4,661 shares of AutoZone during the third quarter, bringing its total position to 16,316 shares. This represents about 0.10% of AutoZone's outstanding shares. The bank cited AutoZone's strong financial performance and market position as reasons for increasing its investment in the company.

  • Bank of Nova Scotia filed the 13F report disclosing the increased stake in AutoZone on March 16, 2026.
  • The additional 4,661 shares were purchased by Bank of Nova Scotia during the third quarter of 2025.

The players

Bank of Nova Scotia

A Canadian multinational banking and financial services company headquartered in Toronto, Ontario.

AutoZone, Inc.

An American retailer and distributor of automotive replacement parts and accessories, headquartered in Memphis, Tennessee.

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The takeaway

The increase in Bank of Nova Scotia's stake in AutoZone suggests the Canadian bank sees long-term growth potential in the auto parts retailer, which could be a positive sign for the company's future performance and the broader automotive aftermarket industry.