CAE Inc (CAE) investors disclose 20.7M-share, 6.43% beneficial stake in 13G/A

Rhea-AI Filing Summary

1832 Asset Management L.P., MD Financial Management Inc., and Scotia McLeod (a division of Scotia Capital Inc.) report beneficial ownership of CAE INC common shares on a Schedule 13G/A (Amendment No. 3). The group reports beneficial ownership of 20,668,450 CAE common shares, representing 6.4295% of the class. They report sole power to vote and sole power to dispose of all 20,668,450 shares, with no shared voting or dispositive power.

Within this aggregate, 1832 Asset Management L.P. reports sole voting and dispositive power over 20,176,009 shares, MD Financial Management Inc. over 236,139 shares, and Scotia Capital Inc. over 256,302 shares, corresponding to 6.3%, 0.1%, and 0.1% of the class, respectively. The filers identify themselves as an investment adviser and broker-dealer and certify they are subject to a foreign regulatory scheme comparable to U.S. requirements.

Key Figures

Total beneficial ownership: 20,668,450 shares Percent of class: 6.4295% 1832 Asset Management holdings: 20,176,009 shares +4 more

7 metrics

Total beneficial ownership 20,668,450 shares CAE common shares beneficially owned by the reporting group

Percent of class 6.4295% Portion of CAE common share class beneficially owned

1832 Asset Management holdings 20,176,009 shares CAE shares with sole voting and dispositive power by 1832 Asset Management L.P.

MD Financial holdings 236,139 shares CAE shares with sole voting and dispositive power by MD Financial Management Inc.

Scotia Capital holdings 256,302 shares CAE shares with sole voting and dispositive power by Scotia Capital Inc.

Sole voting power (group) 20,668,450 shares Shares for which the group has sole power to vote or direct the vote

Sole dispositive power (group) 20,668,450 shares Shares for which the group has sole power to dispose or direct the disposition

Key Terms

Schedule 13G/A, beneficially owned, sole voting power, sole dispositive power, +2 more

6 terms

Schedule 13G/A regulatory

"reports beneficial ownership of CAE INC common shares on a 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.

beneficially owned financial

"Ownership (a) | Amount beneficially owned: 20668450"

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 voting power financial

"Number of shares as to which the person has | (i) Sole power to vote"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

sole dispositive power financial

"Sole Dispositive Power 20,176,009.00"

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.

investment adviser regulatory

"type of institution: investment adviser and broker dealer"

An investment adviser is a person or firm that professionally manages money and gives recommendations about buying, selling, or holding investments. Like a financial coach or guide, they have a legal duty to act in a client's best financial interest, so their advice, fees and potential conflicts can directly affect returns and risk — making their role important for investors who want informed, accountable help with portfolios.

broker dealer regulatory

"type of institution: investment adviser and broker dealer"

A broker-dealer is a firm or individual that helps people buy and sell stocks, bonds and other securities (acting as a broker) and may also trade those same securities with its own money (acting as a dealer). It matters to investors because broker-dealers execute trades, hold assets, provide access to markets and research, and can create conflicts of interest — like a market operator that also sells its own goods — so their costs, speed and trustworthiness directly affect investment outcomes.

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Available on EDGAR 08/12/2026 - 04:46 PM Accepted by SEC EDGAR 08/12/2026 - 04:45 PM Learn about SEC filing dates

FAQ

What ownership stake in CAE (CAE) is reported in this Schedule 13G/A?

The filing reports beneficial ownership of 20,668,450 CAE common shares, representing 6.4295% of the outstanding common shares. All reported shares are subject to sole voting and sole dispositive power by the reporting entities.

Which entities are the reporting persons in this CAE (CAE) Schedule 13G/A?

The reporting persons are 1832 Asset Management L.P., MD Financial Management Inc., and Scotia McLeod, a division of Scotia Capital Inc., all Canadian entities acting as investment adviser and broker-dealer for CAE common shares.

How many CAE (CAE) shares does 1832 Asset Management L.P. control?

1832 Asset Management L.P. reports sole voting and sole dispositive power over 20,176,009 CAE common shares, representing 6.3% of the class. These shares form the substantial majority of the group’s aggregated beneficial ownership.

What voting and dispositive powers are reported over CAE (CAE) shares?

The reporting group states sole power to vote or direct the vote and sole power to dispose or direct the disposition of 20,668,450 CAE common shares, with no shared voting or dispositive power reported.

What is the role of Kevin Brown in the CAE (CAE) Schedule 13G/A filing?

Kevin Brown signs as Vice President, Asset Management Compliance, Bank of Nova Scotia, certifying comparability of the foreign regulatory scheme and referencing a joint filing agreement and power of attorney accompanying the ownership report.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

CAE INC

(Name of Issuer)

common shares

(Title of Class of Securities)

124765108

(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): 124765108

1

Names of Reporting Persons

1832 Asset Management 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

ONTARIO, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 20,176,009.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 20,176,009.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

20,176,009.00

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)

6.3 %

12

Type of Reporting Person (See Instructions)

FI

SCHEDULE 13G

CUSIP Number(s): 124765108

1

Names of Reporting Persons

MD Financial Management 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

ONTARIO, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 236,139.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 236,139.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

236,139.00

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)

0.1 %

12

Type of Reporting Person (See Instructions)

FI

SCHEDULE 13G

CUSIP Number(s): 124765108

1

Names of Reporting Persons

SCOTIA CAPITAL 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

ONTARIO, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 256,302.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 256,302.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

256,302.00

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)

0.1 %

12

Type of Reporting Person (See Instructions)

FI

SCHEDULE 13G

Item 1.
(a)	Name of issuer: CAE INC
(b)	Address of issuer's principal executive offices: 8585 COTE DE LIESSE, ST-LAURENT, QUEBEC, CANADA, H4T 1G6.
Item 2.
(a)	Name of person filing: 1832 Asset Management L.P. MD Financial Management Inc. Scotia McLeod, a division of Scotia Capital Inc.
(b)	Address or principal business office or, if none, residence: Scotiabank North, 40 Temperance Street, 16th Floor, Toronto, Ontario, M5H 0B4 Canada 1870 Alta Vista Drive, Ottawa, Ontario, K1G 6R7, Canada 40 King St. West, Scotia Plaza, 52nd Floor, Toronto, Ontario, M5W 2X6, Canada
(c)	Citizenship: Canadian Canadian Canadian
(d)	Title of class of securities: common shares
(e)	CUSIP No.: 124765108
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).
	If filing in accordance with Rule 240.13d-1(b)(1)(ii)(J), please specify the type of institution: investment adviser and broker dealer
Item 4.	Ownership
(a)	Amount beneficially owned: 20668450
(b)	Percent of class: 6.4295 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 20668450
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 20668450
	(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. By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to Investment Fund Manager and Portfolio Manager is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.

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.

1832 Asset Management L.P.

Signature:	Kevin Brown
Name/Title:	Vice President, Asset Management Compliance, Bank of Nova Scotia
Date:	08/12/2026

MD Financial Management Inc.

Signature:	Kevin Brown
Name/Title:	Vice President, Asset Management Compliance, Bank of Nova Scotia
Date:	08/12/2026

SCOTIA CAPITAL INC.

Signature:	Kevin Brown
Name/Title:	Vice President, Asset Management Compliance, Bank of Nova Scotia
Date:	08/12/2026

Comments accompanying signature: Filing Joint Agreement and POA 20241028.docx