FIL Limited reports 38.1M-share (5.0%) stake in Algonquin Power (AQN)

Rhea-AI Filing Summary

FIL Limited reports beneficial ownership of 38,114,903 shares of Algonquin Power & Utilities Corp. common stock, representing 5.0% of the class as disclosed in this Amendment No. 1 to Schedule 13G/A. The filer reports sole voting power and sole dispositive power over 38,114,903 shares.

The filing names FIL Limited (Bermuda) and related entities Pandanus Partners, L.P. and Pandanus Associates, Inc.; the issuer address is 354 Davis Road, Oakville, Ontario. The form is signed by Richard Bourgelas under a Power of Attorney, dated 04/28/2026.

Key Figures

Shares beneficially owned: 38,114,903 shares Percent of class: 5.0% CUSIP: 015857105 +2 more

5 metrics

Shares beneficially owned 38,114,903 shares Amount reported as beneficially owned by FIL Limited

Percent of class 5.0% Percent of Algonquin Power common stock represented by reported holdings

CUSIP 015857105 CUSIP number for Algonquin Power & Utilities Corp. common stock

Filing amendment date Amendment No. 1 This submission is an Amendment No. 1 to Schedule 13G/A

Signature date 04/28/2026 Date signatures were provided by the authorized representative

Key Terms

beneficially owned, sole dispositive power, Schedule 13G/A, Power of Attorney

4 terms

beneficially owned regulatory

"Amount beneficially owned: 38,114,903.00"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

sole dispositive power regulatory

"Sole power to dispose or to direct the disposition of: 38,114,903.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

Schedule 13G/A regulatory

"Amendment No. 1 to Schedule 13G/A"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

Power of Attorney legal

"Duly authorized under Power of Attorney effective as of April 13, 2026"

A power of attorney is a legal document that allows one person to make decisions and act on behalf of another person, often in financial or legal matters. It’s like giving someone a trusted helper or agent the authority to handle important tasks if you are unable to do so yourself. This matters to investors because it can impact how their assets are managed or transferred if they become unable to oversee their affairs.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

ALGONQUIN POWER & UTILITIES CORP.

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

015857105

(CUSIP Number)

03/31/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 015857105

1

Names of Reporting Persons

FIL Limited

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

BERMUDA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 38,114,903.00
6	Shared Voting Power
7	Sole Dispositive Power 38,114,903.00
8	Shared Dispositive Power

9

Aggregate Amount Beneficially Owned by Each Reporting Person

38,114,903.00

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)

5.0 %

12

Type of Reporting Person (See Instructions)

FI

SCHEDULE 13G

CUSIP Number(s): 015857105

1

Names of Reporting Persons

Pandanus Partners, L.P.

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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power
6	Shared Voting Power
7	Sole Dispositive Power 38,114,903.00
8	Shared Dispositive Power

9

Aggregate Amount Beneficially Owned by Each Reporting Person

38,114,903.00

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)

5.0 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 015857105

1

Names of Reporting Persons

Pandanus Associates, Inc.

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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power
6	Shared Voting Power
7	Sole Dispositive Power 38,114,903.00
8	Shared Dispositive Power

9

Aggregate Amount Beneficially Owned by Each Reporting Person

38,114,903.00

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)

5.0 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: ALGONQUIN POWER & UTILITIES CORP.
(b)	Address of issuer's principal executive offices: 354 DAVIS ROAD, 354 DAVIS ROAD, OAKVILLE, ONTARIO, CANADA, L6J2X1.
Item 2.
(a)	Name of person filing: FIL Limited
(b)	Address or principal business office or, if none, residence: Pembroke Hall, 42 Crow Lane, Hamilton, Bermuda, HM19
(c)	Citizenship: Not applicable
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP No.: 015857105
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).
	Please see Exhibit 99.
Item 4.	Ownership
(a)	Amount beneficially owned: 38,114,903.00
(b)	Percent of class: 5%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 38,114,903.00
	(ii) Shared power to vote or to direct the vote: 0.00
	(iii) Sole power to dispose or to direct the disposition of: 38,114,903.00
	(iv) Shared power to dispose or to direct the disposition of: 0.00
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.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. One or more other persons are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the COMMON STOCK of ALGONQUIN POWER & UTILITIES CORP. No one other person's interest in the COMMON STOCK of ALGONQUIN POWER & UTILITIES CORP. is more than five percent of the total outstanding COMMON STOCK.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See attached Exhibit 99.
Item 8.	Identification and Classification of Members of the Group.
	If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group. Not applicable.
Item 9.	Notice of Dissolution of Group.
	Notice of dissolution of a group may be furnished as an exhibit stating the date of the dissolution and that all further filings with respect to transactions in the security reported on will be filed, if required, by members of the group, in their individual capacity. See Item 5. 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.

FIL Limited

Signature:	Richard Bourgelas
Name/Title:	Duly authorized under Power of Attorney effective as of April 13, 2026, by and on behalf of FIL Limited and its direct and indirect subsidiaries*
Date:	04/28/2026

Pandanus Partners, L.P.

Signature:	Richard Bourgelas
Name/Title:	Duly authorized under Power of Attorney effective as of April 13, 2026, by Pandanus Associates, Inc. on behalf of Pandanus Partners, L.P.*
Date:	04/28/2026

Pandanus Associates, Inc.

Signature:	Richard Bourgelas
Name/Title:	Duly authorized under Power of Attorney effective as of April 13, 2026, by and on behalf of Pandanus Associates, Inc.*
Date:	04/28/2026

Comments accompanying signature: * Exhibit 24 Power of Attorney.