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Scotiabank unit sells stake in Israeli arms supplier Elbit after backlash
1832 Asset Management divested its entire Elbit Systems stake despite a share price rise from under $175 to over $700 since 2021 amid public protests, regulatory filings show.
- On Feb. 16, 2026, 1832 Asset Management, Scotiabank subsidiary, sold its remaining holdings in Elbit Systems Ltd, Israeli defence manufacturer, according to U.S. Securities and Exchange Commission filings.
- 1832 Asset Management had previously held more than 2.2 million Elbit Systems Ltd shares at the end of 2021, declining to about 700,000 shares by last August as Elbit’s price climbed steeply last year.
- Scotiabank said it does not directly hold shares and cannot interfere in independent portfolio managers' decisions at 1832 Asset Management, despite protests at the Giller Prize over Elbit's Gaza role.
- The move removes a longstanding institutional stake, ending 1832 Asset Management's holding of more than 2.2 million Elbit Systems Ltd shares and intensifying scrutiny after protests by public critics and protesters.
- Holdings declined steadily, falling from about 700,000 shares to about 165,000 shares as Elbit Systems Ltd's stock climbed steeply last year.
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Activists angered over Elbit's role in supplying military equipment used by Israel during its war in Gaza pressured the Scotiabank investment arm.
·United Kingdom
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The Toronto StarReposted by 
The Hamilton Spectator
The Hamilton SpectatorScotiabank’s 1832 Asset Management sells last shares in Israeli military supplier
TORONTO - Regulatory filings show that Scotiabank's 1832 Asset Management has sold its remaining holdings in Israeli defence manufacturer Elbit Systems Ltd.
·Toronto, Canada
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Total News Sources6
Leaning Left2Leaning Right0Center4Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 33%
C 67%
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