Vanguard Group (CECO) reports 4.99% CECO Environmental ownership stake

Rhea-AI Filing Summary

The Vanguard Group filed an amended Schedule 13G reporting beneficial ownership of 1,780,596 CECO Environmental common shares, representing 4.99% of the class.

Vanguard reports no sole voting or dispositive power, with 249,188 shares subject to shared voting power and 1,780,596 shares subject to shared dispositive power. The filing explains an internal realignment on January 12, 2026, after which certain Vanguard subsidiaries are expected to report beneficial ownership separately. Vanguard states its clients have the right to receive dividends and sale proceeds, and that no other single client holds more than 5% of the class.

Insights

Institutional ownership analyst

Vanguard reports a 4.99% shared beneficial stake in CECO Environmental.

The Vanguard Group discloses beneficial ownership of 1,780,596 CECO Environmental common shares, equal to 4.99% of the class. All 1,780,596 shares are subject to shared dispositive power, while 249,188 shares carry shared voting power and none are held with sole power.

The filing notes an internal realignment effective January 12, 2026, after which certain Vanguard subsidiaries or business divisions are expected to report beneficial ownership separately from Vanguard in a disaggregated manner. The investment strategies of these entities remain the same as before the realignment.

Vanguard states that its clients, including registered investment companies and other managed accounts, have the right to receive dividends and sale proceeds from the reported securities, and that no other individual client’s interest in these shares exceeds 5% of the class.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

CECO Environmental Corp

(Name of Issuer)

Common Stock

(Title of Class of Securities)

125141101

(CUSIP Number)

12/31/2025

(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)

SCHEDULE 13G

CUSIP No. 125141101

1

Names of Reporting Persons

The Vanguard Group

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

PENNSYLVANIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 249,188.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,780,596.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,780,596.00

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)

4.99 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: On January 12, 2026, The Vanguard Group, Inc. went through an internal realignment. As of that date, The Vanguard Group, Inc. no longer performs portfolio management services or administers proxy voting. In accordance with SEC Release No. 34-39538 (January 12, 1998), The Vanguard Group, Inc. anticipates that certain subsidiaries or business divisions of subsidiaries of The Vanguard Group, Inc., that currently have, or are deemed to have, beneficial ownership with The Vanguard Group, Inc., will report beneficial ownership separately (on a disaggregated basis) from The Vanguard Group, Inc. in reliance on such release. These subsidiaries and/or business divisions pursue the same investment strategies as previously pursued by The Vanguard Group, Inc. prior to the realignment.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: CECO Environmental Corp
(b)	Address of issuer's principal executive offices: 14651 Dallas Parkway, Suite 500, Dallas, TX, 75254
Item 2.
(a)	Name of person filing: The Vanguard Group
(b)	Address or principal business office or, if none, residence: 100 Vanguard Blvd., Malvern, PA 19355
(c)	Citizenship: PA
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 125141101
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: 1780596
(b)	Percent of class: 4.99 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 249188
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 1780596
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. The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%.
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.

The Vanguard Group

Signature:	Ashley Grim
Name/Title:	Head of Global Fund Administration
Date:	01/30/2026

FAQ

What stake does The Vanguard Group report in CECO (CECO Environmental)?

The Vanguard Group reports beneficial ownership of 1,780,596 CECO Environmental common shares, equal to 4.99% of the class. All reported shares are held with shared dispositive power, and a portion, 249,188 shares, are subject to shared voting power according to the amended Schedule 13G.

How much voting power does Vanguard have over its CECO Environmental shares?

Vanguard reports zero sole voting power and shared voting power over 249,188 CECO Environmental shares. It also reports shared dispositive power over 1,780,596 shares, meaning voting and sale decisions are made jointly under the arrangements described in the filing.

Why did Vanguard mention an internal realignment in the CECO Schedule 13G/A?

Vanguard notes a January 12, 2026 internal realignment affecting portfolio management and proxy voting responsibilities. After this date, certain Vanguard subsidiaries or business divisions are expected to report beneficial ownership separately, while continuing to pursue the same investment strategies previously used by The Vanguard Group.

Do Vanguard’s clients directly benefit from the CECO Environmental shares reported?

Yes, Vanguard states its clients have rights to dividends and sale proceeds from the reported CECO shares. These clients include registered investment companies and other managed accounts, and no single client’s interest in the securities exceeds 5% of the class.

What does the 4.99% figure in Vanguard’s CECO filing represent?

The 4.99% figure represents the percentage of CECO Environmental’s common stock beneficially owned by Vanguard. This percentage is based on 1,780,596 shares reported in the filing and reflects Vanguard’s aggregate beneficial ownership across accounts it manages.

Who signed the amended Schedule 13G for Vanguard’s CECO holdings?

The filing is signed by Ashley Grim, Head of Global Fund Administration. The signatory certifies, after reasonable inquiry, that the information in the statement is true, complete, and correct, and that the securities are held in the ordinary course of business as described.