Bank of Nova Scotia Files Passive 1.48% Ownership in ATS Corp

Rhea-AI Filing Summary

Bank of Nova Scotia (BNS) has filed a Schedule 13G reporting a passive equity position in ATS Corp (ATS) as of 30 Jun 2025.

• Shares owned: 1,443,772 common shares
• Ownership: 1.479 % of outstanding stock
• Voting/Dispositive power: Sole power over 100 % of the reported shares; no shared power
• Filing basis: Rule 13d-1(b) – institutional investor holding in the ordinary course of business
• Reporting person: Bank of Nova Scotia, a federally chartered Canadian bank

The stake is below the 5 % threshold, so the bank’s intent is deemed non-activist and it is not seeking to influence control. While modest in size, the disclosure adds another recognized financial institution to ATS’s shareholder roster, potentially broadening the company’s institutional base without triggering change-in-control concerns.

Insights

Financial Analyst

TL;DR Passive 1.48 % ATS stake by Bank of Nova Scotia is routine, indicating incremental institutional interest without control implications.

Assessment: The 13G shows BNS holds roughly 1.44 M ATS shares, well under the 5 % activist threshold. All voting and dispositive rights are sole, signalling a standard custody or trading position rather than coordinated action. For investors, the filing confirms continued institutional accumulation but is not materially impactful to valuation or governance. No buy/sell pressure, financing event, or strategic partnership is implied.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

ATS Corp

(Name of Issuer)

Common Stock

(Title of Class of Securities)

00217Y104

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 00217Y104

1

Names of Reporting Persons

BANK OF NOVA SCOTIA

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CANADA (FEDERAL LEVEL)

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,443,772.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,443,772.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,443,772.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

1.479 %

12

Type of Reporting Person (See Instructions)

FI

SCHEDULE 13G

Item 1.
(a)	Name of issuer: ATS Corp
(b)	Address of issuer's principal executive offices: 730 Fountain Street North, Cambridge , ONTARIO, CANADA N3H 4R7
Item 2.
(a)	Name of person filing: BANK OF NOVA SCOTIA
(b)	Address or principal business office or, if none, residence: 40 TEMPERANCE STREET TORONTO, Ontario, Canada M5H 0B4
(c)	Citizenship: BANK OF NOVA SCOTIA - CANADA (FEDERAL LEVEL)
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 00217Y104
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
	a parent holding company, in accordance with 13d-1(b)(1)(ii)(g)
Item 4.	Ownership
(a)	Amount beneficially owned: 1,443,772
(b)	Percent of class: 1.479 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: BANK OF NOVA SCOTIA - 1,443,772
	(ii) Shared power to vote or to direct the vote: BANK OF NOVA SCOTIA - 0
	(iii) Sole power to dispose or to direct the disposition of: BANK OF NOVA SCOTIA - 1,443,772
	(iv) Shared power to dispose or to direct the disposition of: BANK OF NOVA SCOTIA - 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

BANK OF NOVA SCOTIA

Signature:	Raj Sachdeva
Name/Title:	Vice President, Head of GBM&T Compliance Canada
Date:	07/21/2025

FAQ

How many ATS (ATS) shares does Bank of Nova Scotia own?

The Schedule 13G lists 1,443,772 ATS common shares.

What percentage of ATS’s outstanding stock does this stake represent?

Bank of Nova Scotia’s holding equals 1.479 % of ATS’s common stock.

Does Bank of Nova Scotia have sole or shared voting power over the ATS shares?

It has sole voting and dispositive power over all reported shares; 0 shared power.

Is the filing activist or passive?

It is a passive filing under Rule 13d-1(b), indicating the shares are held in the ordinary course of business.

What is the measurement date for the disclosed ownership?

The ownership position is reported as of June 30, 2025.

Does Bank of Nova Scotia exceed the 5 % threshold requiring a 13D?

No, its 1.479 % stake is well below the 5 % level.