SCHEDULE: Bank of Nova Scotia Reports 2.53% Stake in Penguin Solutions

Bank of Nova Scotia has disclosed a beneficial ownership of 1,320,241 shares, representing 2.53% of the outstanding common stock of Penguin Solutions, Inc., as of September 30, 2026.

Summary

• Bank of Nova Scotia has filed a Schedule 13G, indicating it beneficially owns 1,320,241 shares of Penguin Solutions, Inc. common stock.
• This ownership stake represents 2.53% of the total class of securities.
• The filing is an amendment, suggesting a change in ownership or a periodic update.
• The date of the event requiring the filing is September 30, 2026.
• Bank of Nova Scotia is identified as a financial institution (FI) and a Canadian federal entity.

Sentiment

Score: 3

Explanation: StockSavvy.ai views this filing as neutral to slightly negative, primarily due to the lack of substantive business updates and the nature of a Schedule 13G filing, which typically reports passive ownership changes rather than company performance.

Positives

• The filing indicates a significant financial institution holds a stake in Penguin Solutions, which could be interpreted as a sign of confidence in the company's long-term prospects.
• The disclosure is transparent, providing clear information about the ownership stake.

Negatives

• The filing does not provide any operational or financial performance data for Penguin Solutions.
• The nature of a Schedule 13G filing suggests passive investment rather than active strategic involvement, offering limited insight into management's strategic direction.

Risks

• The filing itself does not present new risks for Penguin Solutions; however, the concentration of ownership by a single large entity could pose future risks if that entity decides to divest its holdings.
• As a Schedule 13G filing, it does not detail specific business risks faced by Penguin Solutions.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding Penguin Solutions' future performance.

Management Comments

• Raj Sachdeva, Vice President, Head of GBM&T Compliance Canada for Bank of Nova Scotia, certified that the information is true, complete, and correct.
• The filing includes a certification that the foreign regulatory scheme applicable to Bank of Nova Scotia is substantially comparable to that of functionally equivalent U.S. institutions.

Industry Context

StockSavvy.ai notes that institutional filings like this Schedule 13G are common in the financial markets. They signal changes in significant shareholdings but do not directly reflect the operational performance or strategic direction of the underlying company, Penguin Solutions.

Stakeholder Impact

• Shareholders of Penguin Solutions may see the increased institutional ownership as a positive sign, potentially leading to greater stability or interest from other investors.
• The filing provides transparency for all stakeholders regarding significant ownership changes.

Next Steps

• Bank of Nova Scotia will continue to monitor its investment in Penguin Solutions.
• Penguin Solutions will continue its business operations as usual, subject to market conditions and its own strategic initiatives.

Key Dates

Keywords

Penguin Solutions, Bank of Nova Scotia, Schedule 13G, Beneficial Ownership, Common Stock, Investment, Shareholder