Bank of Montreal and related filers report beneficial ownership of 40,951,471 common shares of Canadian Imperial Bank of Commerce, representing 4.43% of the class as of 12/31/2025 (Amendment No. 2). The filing breaks down voting and dispositive powers across Bank of Montreal entities, with 40,533,889 shares shown as sole voting power for Bank of Montreal.
Positive
None.
Negative
None.
Insights
Large institutional position and detailed allocation across BMO entities.
The schedule reports 40,951,471 shares beneficially owned (4.43%). The entry lists per-entity sole voting and dispositive powers—for example, Bank of Montreal: 40,533,889 sole voting power and 40,609,488 sole dispositive power—providing a clear ownership map.
Timing is anchored to 12/31/2025. Cash-flow treatment or any transfers are not described; subsequent filings would show changes in holdings.
Amendment clarifies group composition and voting/dispositive splits.
The statement identifies multiple reporting persons (Bank of Montreal and subsidiaries) and lists citizenship and addresses. It follows Schedule 13G/A format and records ownership thresholds under Item 5 (ownership of 5% or less).
Qualifiers about group status and potential exhibit attachments appear; the filing preserves standard Section 13(d)/(g) disclaimers and shows signatures dated 05/13/2026.
Key Figures
Beneficial ownership:40,951,471 sharesPercent of class:4.43%Bank of Montreal sole voting power:40,533,889 shares+4 more
7 metrics
Beneficial ownership40,951,471 sharesas of 12/31/2025
Percent of class4.43%as of 12/31/2025
Bank of Montreal sole voting power40,533,889 sharesreported under Item 4(c)(i)
Bank of Montreal sole dispositive power40,609,488 sharesreported under Item 4(c)(iii)
Largest subsidiary holding (Bank of Montreal Holding Inc.)29,539,068 sharesaggregate reported beneficial ownership for that entity
Schedule 13G/A, Beneficially owned, Sole dispositive power, Shared voting power
4 terms
Schedule 13G/Aregulatory
"Amendment No. 2 and Item 1 naming issuer and reporting persons"
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 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 powerregulatory
"Item 4(c)(iii) lists sole power to dispose or direct disposition"
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.
Shared voting powerregulatory
"Item 4(c)(ii) lists shared power to vote or direct the vote"
Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.
What stake does Bank of Montreal report in CIBC (CM)?
Bank of Montreal and affiliated filers report beneficial ownership of 40,951,471 common shares, equal to 4.43% of the class as of 12/31/2025. The filing shows detailed voting and dispositive power allocations across BMO entities.
Which BMO entity holds the most voting power in the filing?
The filing shows Bank of Montreal with 40,533,889 shares of sole voting power. Other BMO entities are listed separately with smaller sole voting or shared voting allocations in the same schedule.
Does the Schedule 13G/A show who receives proceeds or any transactions?
No. The schedule reports beneficial ownership and voting/dispositive allocations; it does not describe proceeds, sales, or purchases. Transactional or cash-flow details are not included in the provided excerpt.
What date does the ownership figure reference in the filing?
The ownership figures are reported with an ownership reference date of 12/31/2025. Signatures for the amendment are dated 05/13/2026, indicating the amendment filing date.
Are the BMO reporting persons grouped or separate in this statement?
The statement lists multiple reporting persons (Bank of Montreal and subsidiaries) and includes standard grouping language under Items 8 and 9. It does not assert that the persons are acting as a group; exhibits are referenced for further identification if applicable.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 2)
CANADIAN IMPERIAL BANK OF COMMERCE /CAN/
(Name of Issuer)
Common Shares
(Title of Class of Securities)
136069101
(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)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
136069101
1
Names of Reporting Persons
Bank of Montreal
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
CANADA (FEDERAL LEVEL)
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
40,533,889.00
6
Shared Voting Power
341,983.00
7
Sole Dispositive Power
40,609,488.00
8
Shared Dispositive Power
341,983.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
40,951,471.00
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)
4.43 %
12
Type of Reporting Person (See Instructions)
HC
SCHEDULE 13G
CUSIP Number(s):
136069101
1
Names of Reporting Persons
BANK OF MONTREAL HOLDING 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
CANADA (FEDERAL LEVEL)
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
29,124,070.00
6
Shared Voting Power
341,983.00
7
Sole Dispositive Power
29,197,085.00
8
Shared Dispositive Power
341,983.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
29,539,068.00
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)
3.19 %
12
Type of Reporting Person (See Instructions)
BK
SCHEDULE 13G
CUSIP Number(s):
136069101
1
Names of Reporting Persons
BMO NESBITT BURNS INC. WEALTH MANAGEMENT
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
CANADA (FEDERAL LEVEL)
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
25,775,356.00
6
Shared Voting Power
308,445.00
7
Sole Dispositive Power
25,848,371.00
8
Shared Dispositive Power
308,445.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
26,156,816.00
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)
2.82 %
12
Type of Reporting Person (See Instructions)
BD
SCHEDULE 13G
CUSIP Number(s):
136069101
1
Names of Reporting Persons
BMO NESBITT BURNS SECURITIES 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
CANADA (FEDERAL LEVEL)
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
73,015.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
73,015.00
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 %
12
Type of Reporting Person (See Instructions)
BD
SCHEDULE 13G
CUSIP Number(s):
136069101
1
Names of Reporting Persons
BMO PRIVATE INVESTMENT COUNSEL 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
CANADA (FEDERAL LEVEL)
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
752,975.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
752,975.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
752,975.00
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)
0.08 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
CUSIP Number(s):
136069101
1
Names of Reporting Persons
BMO ASSET 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
19,420,081.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
19,420,081.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
19,420,081.00
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)
2.1 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
CUSIP Number(s):
136069101
1
Names of Reporting Persons
BMO NESBITT BURNS 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
CANADA (FEDERAL LEVEL)
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
3,348,714.00
6
Shared Voting Power
33,538.00
7
Sole Dispositive Power
3,348,714.00
8
Shared Dispositive Power
33,538.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,348,714.00
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)
0.36 %
12
Type of Reporting Person (See Instructions)
BD
SCHEDULE 13G
CUSIP Number(s):
136069101
1
Names of Reporting Persons
BMO FINANCIAL CORP.
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
16,547.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
19,131.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
19,131.00
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 %
12
Type of Reporting Person (See Instructions)
HC
SCHEDULE 13G
CUSIP Number(s):
136069101
1
Names of Reporting Persons
BMO BANK N.A.
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
ILLINOIS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
16,547.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
16,691.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
16,691.00
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 %
12
Type of Reporting Person (See Instructions)
BK
SCHEDULE 13G
CUSIP Number(s):
136069101
1
Names of Reporting Persons
BMO FAMILY OFFICE, LLC
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
0.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
2,440.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,440.00
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 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
CUSIP Number(s):
136069101
1
Names of Reporting Persons
BANK OF MONTREAL EUROPE PUBLIC LIMITED COMPANY
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
IRELAND
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
72,379.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
72,379.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
72,379.00
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 %
12
Type of Reporting Person (See Instructions)
BK
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
CANADIAN IMPERIAL BANK OF COMMERCE /CAN/
(b)
Address of issuer's principal executive offices:
81 BAY STREET, CIBC SQUARE, TORONTO, ONTARIO, CANADA
M5J 0E7
Item 2.
(a)
Name of person filing:
Bank of Montreal
BANK OF MONTREAL HOLDING INC.
BMO NESBITT BURNS INC. WEALTH MANAGEMENT
BMO NESBITT BURNS SECURITIES LTD.
BMO PRIVATE INVESTMENT COUNSEL INC.
BMO ASSET MANAGEMENT INC.
BMO NESBITT BURNS INC.
BMO FINANCIAL CORP.
BMO BANK N.A.
BMO FAMILY OFFICE, LLC
BANK OF MONTREAL EUROPE PUBLIC LIMITED COMPANY
(b)
Address or principal business office or, if none, residence:
1 First Canadian Place
Toronto, Ontario, Canada
M5X1A1
(c)
Citizenship:
Bank of Montreal - CANADA (FEDERAL LEVEL)
BANK OF MONTREAL HOLDING INC. - CANADA (FEDERAL LEVEL)
BMO NESBITT BURNS INC. WEALTH MANAGEMENT - CANADA (FEDERAL LEVEL)
BMO NESBITT BURNS SECURITIES LTD. - CANADA (FEDERAL LEVEL)
BMO PRIVATE INVESTMENT COUNSEL INC. - CANADA (FEDERAL LEVEL)
BMO ASSET MANAGEMENT INC. - ONTARIO, CANADA
BMO NESBITT BURNS INC. - CANADA (FEDERAL LEVEL)
BMO FINANCIAL CORP. - DELAWARE
BMO BANK N.A. - ILLINOIS
BMO FAMILY OFFICE, LLC - DELAWARE
BANK OF MONTREAL EUROPE PUBLIC LIMITED COMPANY - IRELAND
(d)
Title of class of securities:
Common Shares
(e)
CUSIP No.:
136069101
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:
40,951,471
(b)
Percent of class:
4.43 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
Bank of Montreal - 40,533,889
BANK OF MONTREAL HOLDING INC. - 29,124,070
BMO NESBITT BURNS INC. WEALTH MANAGEMENT - 25,775,356
BMO NESBITT BURNS SECURITIES LTD. - 0
BMO PRIVATE INVESTMENT COUNSEL INC. - 752,975
BMO ASSET MANAGEMENT INC. - 19,420,081
BMO NESBITT BURNS INC. - 3,348,714
BMO FINANCIAL CORP. - 16,547
BMO BANK N.A. - 16,547
BMO FAMILY OFFICE, LLC - 0
BANK OF MONTREAL EUROPE PUBLIC LIMITED COMPANY - 72,379
(ii) Shared power to vote or to direct the vote:
Bank of Montreal - 341,983
BANK OF MONTREAL HOLDING INC. - 341,983
BMO NESBITT BURNS INC. WEALTH MANAGEMENT - 308,445
BMO NESBITT BURNS SECURITIES LTD. - 0
BMO PRIVATE INVESTMENT COUNSEL INC. - 0
BMO ASSET MANAGEMENT INC. - 0
BMO NESBITT BURNS INC. - 33,538
BMO FINANCIAL CORP. - 0
BMO BANK N.A. - 0
BMO FAMILY OFFICE, LLC - 0
BANK OF MONTREAL EUROPE PUBLIC LIMITED COMPANY - 0
(iii) Sole power to dispose or to direct the disposition of:
Bank of Montreal - 40,609,488
BANK OF MONTREAL HOLDING INC. - 29,197,085
BMO NESBITT BURNS INC. WEALTH MANAGEMENT - 25,848,371
BMO NESBITT BURNS SECURITIES LTD. - 73,015
BMO PRIVATE INVESTMENT COUNSEL INC. - 752,975
BMO ASSET MANAGEMENT INC. - 19,420,081
BMO NESBITT BURNS INC. - 3,348,714
BMO FINANCIAL CORP. - 19,131
BMO BANK N.A. - 16,691
BMO FAMILY OFFICE, LLC - 2,440
BANK OF MONTREAL EUROPE PUBLIC LIMITED COMPANY - 72,379
(iv) Shared power to dispose or to direct the disposition of:
Bank of Montreal - 341,983
BANK OF MONTREAL HOLDING INC. - 341,983
BMO NESBITT BURNS INC. WEALTH MANAGEMENT - 308,445
BMO NESBITT BURNS SECURITIES LTD. - 0
BMO PRIVATE INVESTMENT COUNSEL INC. - 0
BMO ASSET MANAGEMENT INC. - 0
BMO NESBITT BURNS INC. - 33,538
BMO FINANCIAL CORP. - 0
BMO BANK N.A. - 0
BMO FAMILY OFFICE, LLC - 0
BANK OF MONTREAL EUROPE PUBLIC LIMITED COMPANY - 0
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.
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.
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 Documents.
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.
Each reporting person may be deemed to be a member of a group with respect to the issuer or securities of the issuer for the purposes of Section 13(d) or 13(g) of the Act. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section13(d) or 13(g) of the Act or any other purpose, (i) acting (or has agreed or is agreeing to act) with any other person as a partnership, limited partnership, syndicate, or other group for the purpose of acquiring, holding, or disposing of securities of the issuer or otherwise with respect to the issuer or any securities of the issuer or (ii) a member of any syndicate or group with respect to the issuer or any securities of the issuer.
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.
Each reporting person may be deemed to be a member of a group with respect to the issuer or securities of the issuer for the purposes of Section 13(d) or 13(g) of the Act. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section13(d) or 13(g) of the Act or any other purpose, (i) acting (or has agreed or is agreeing to act) with any other person as a partnership, limited partnership, syndicate, or other group for the purpose of acquiring, holding, or disposing of securities of the issuer or otherwise with respect to the issuer or any securities of the issuer or (ii) a member of any syndicate or group with respect to the issuer or any securities of the issuer.
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.
