Scotia Capital Inc. significantly decreased its holdings in Constellation Brands Inc. (STZ), cutting its position by 91.7% during the second quarter, according to a Form 13F filing with the SEC reported on December 4, 2025. The firm sold 16,169 shares, leaving it with 1,466 shares valued at approximately $238,000. This move by Scotia Capital comes amid a mixed picture of institutional ownership. In previous quarters, other major institutional investors reported increasing their stakes in the beverage company. For instance, Vanguard Group Inc. had boosted its position by 18.6% during the first quarter. Overall, institutional investors own about 77.34% of the company's stock.