Connor Clark & Lunn (BTE) discloses 49.2M-share Baytex Energy position

Rhea-AI Filing Summary

Connor, Clark & Lunn Investment Management Ltd. filed an amended ownership report on Baytex Energy Corp. common shares. The firm reports beneficial ownership of 49,180,551 common shares, representing 6.8% of the class.

Connor, Clark & Lunn states it has sole power to vote 41,810,911 shares and sole power to dispose of 49,180,551 shares, with no shared voting or dispositive power. The filer is organized in British Columbia, Canada.

Key Figures

Beneficial ownership: 49,180,551 common shares Percent of class: 6.8 % Sole voting power: 41,810,911 shares +3 more

6 metrics

Beneficial ownership 49,180,551 common shares Amount beneficially owned by Connor, Clark & Lunn

Percent of class 6.8 % Percentage of Baytex common shares beneficially owned

Sole voting power 41,810,911 shares Shares over which Connor, Clark & Lunn has sole power to vote

Shared voting power 0 shares Shares over which Connor, Clark & Lunn has shared power to vote

Sole dispositive power 49,180,551 shares Shares over which Connor, Clark & Lunn has sole power to dispose

Shared dispositive power 0 shares Shares over which Connor, Clark & Lunn has shared power to dispose

Key Terms

beneficially owned, sole power to vote, sole power to dispose

3 terms

beneficially owned financial

"Item 4. | Ownership (a) | Amount beneficially owned: 49,180,551"

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 power to vote financial

"(i) Sole power to vote or to direct the vote: 41,810,911"

sole power to dispose financial

"(iii) Sole power to dispose or to direct the disposition of: 49,180,551"

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 07/30/2026 - 06:58 PM Accepted by SEC EDGAR 07/30/2026 - 06:58 PM Learn about SEC filing dates

FAQ

What stake in Baytex Energy Corp. (BTE) does Connor, Clark & Lunn report?

Connor, Clark & Lunn reports beneficial ownership of 49,180,551 Baytex Energy Corp. common shares. This represents 6.8% of the outstanding common shares as disclosed in the Schedule 13G/A filing.

What percentage of Baytex Energy Corp. (BTE) does Connor, Clark & Lunn own?

The filing states that Connor, Clark & Lunn owns 6.8% of Baytex Energy Corp.’s common shares. This percentage is based on 49,180,551 shares beneficially owned relative to the company’s outstanding common stock.

How much voting power does Connor, Clark & Lunn have in Baytex Energy Corp. (BTE)?

Connor, Clark & Lunn reports sole power to vote 41,810,911 Baytex common shares and no shared voting power. The firm also reports no shared dispositive power over any Baytex shares.

Does Connor, Clark & Lunn share dispositive power over Baytex Energy Corp. (BTE) shares?

No. The Schedule 13G/A states Connor, Clark & Lunn has sole power to dispose of 49,180,551 shares and shared power to dispose of 0 shares, indicating all reported dispositive authority is sole.

Who signed the Baytex Energy Corp. (BTE) ownership report for Connor, Clark & Lunn?

The ownership report was signed by Derrick Crowe, identified as Chief Compliance Officer of Connor, Clark & Lunn Investment Management Ltd., dated 07/30/2026.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Baytex Energy Corp.

(Name of Issuer)

COM

(Title of Class of Securities)

07317Q105

(CUSIP Number)

06/30/2026

(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): 07317Q105

1

Names of Reporting Persons

Connor, Clark & Lunn Investment Management Ltd.

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

BRITISH COLUMBIA, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 41,748,611.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 49,118,251.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

49,118,251.00

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)

6.8 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Baytex Energy Corp.
(b)	Address of issuer's principal executive offices: 2800, 520 3RD AVE SW, CALGARY, Alberta, Canada, T2P 0R3
Item 2.
(a)	Name of person filing: Connor, Clark & Lunn Investment Management Ltd.
(b)	Address or principal business office or, if none, residence: 800 - 1090 West Pender Street, Vancouver, V6E 0E3, BC, Canada
(c)	Citizenship: BRITISH COLUMBIA, CANADA
(d)	Title of class of securities: COM
(e)	CUSIP No.: 07317Q105
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).
Item 4.	Ownership
(a)	Amount beneficially owned: 49,180,551
(b)	Percent of class: 6.8 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 41,810,911
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 49,180,551
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
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.

Connor, Clark & Lunn Investment Management Ltd.

Signature:	Derrick Crowe
Name/Title:	Chief Compliance Officer
Date:	07/30/2026