JPMorgan (CMS) discloses 15.47M shares, 5.0% stake in CMS Energy

Rhea-AI Filing Summary

JPMorgan Chase & Co. filed Amendment No. 13 to a Schedule 13G/A reporting beneficial ownership of 15,469,213 shares of CMS Energy Corp (Common Stock) representing 5.0% of the class as of 03/31/2026.

The filing breaks out voting and dispositive powers: sole voting power 13,046,897, shared voting power 74,267, sole dispositive power 15,417,471, and shared dispositive power 51,375. The schedule lists multiple JPMorgan subsidiaries associated with the holdings. Signature is dated 05/12/2026.

Insights

Institutional Ownership Analyst

JPMorgan reports a 5.0% beneficial stake in CMS Energy as of 03/31/2026.

The filing documents beneficial ownership of 15,469,213 shares, with voting and dispositive powers allocated across JPMorgan entities. This is a regulatory ownership disclosure under Schedule 13G/A and appears administrative rather than a change-in-control filing.

Cash‑flow treatment and intent are not stated in the excerpt; subsequent filings or proxy materials would show any planned voting coordination or disposition activity.

Key Figures

Beneficial ownership: 15,469,213 shares Percent of class: 5.0% Sole voting power: 13,046,897 shares +3 more

6 metrics

Beneficial ownership 15,469,213 shares as of 03/31/2026

Percent of class 5.0% as of 03/31/2026

Sole voting power 13,046,897 shares reported in Item 4(i)

Shared voting power 74,267 shares reported in Item 4(ii)

Sole dispositive power 15,417,471 shares reported in Item 4(iii)

Shared dispositive power 51,375 shares reported in Item 4(iv)

Key Terms

Schedule 13G/A, Beneficial ownership, Sole dispositive power, Sole voting power

4 terms

Schedule 13G/A regulatory

"Amendment No. 13 to a Schedule 13G/A reporting beneficial ownership"

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.

Beneficial ownership regulatory

"Amount beneficially owned: 15,469,213 (b) Percent of class: 5.0 %"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Sole dispositive power regulatory

"Sole power to dispose or to direct the disposition of: 15,417,471"

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.

Sole voting power regulatory

"Sole power to vote or to direct the vote: 13,046,897"

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.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 13)

CMS ENERGY CORP

(Name of Issuer)

Common Stock, $0.01 par value

(Title of Class of Securities)

125896100

(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): 125896100

1

Names of Reporting Persons

JPMORGAN CHASE & CO

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 13,046,897.00
6	Shared Voting Power 74,267.00
7	Sole Dispositive Power 15,417,471.00
8	Shared Dispositive Power 51,375.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

15,469,213.00

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)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: CMS ENERGY CORP
(b)	Address of issuer's principal executive offices: ONE ENERGY PLAZA, JACKSON, MICHIGAN, 49201.
Item 2.
(a)	Name of person filing: JPMORGAN CHASE & CO
(b)	Address or principal business office or, if none, residence: 270 Park Avenue, New York, NY 10017
(c)	Citizenship: DE
(d)	Title of class of securities: Common Stock, $0.01 par value
(e)	CUSIP No.: 125896100
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: 15,469,213
(b)	Percent of class: 5.0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 13,046,897
	(ii) Shared power to vote or to direct the vote: 74,267
	(iii) Sole power to dispose or to direct the disposition of: 15,417,471
	(iv) Shared power to dispose or to direct the disposition of: 51,375
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.
	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. J.P. Morgan Trust Company of Delaware; J.P. Morgan Securities LLC; JPMorgan Chase Bank, National Association; JPMorgan Asset Management (UK) Limited; J.P. MORGAN SE; J.P. Morgan (Suisse) SA; J.P. Morgan Investment Management Inc.; J.P. Morgan Mansart Management Limited; JPMorgan Asset Management (China) Company Limited; J.P. Morgan Wealth Management Solutions Inc. 55I, LLC
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.

JPMORGAN CHASE & CO

Signature:	Rachel Tsvaygoft
Name/Title:	Vice President
Date:	05/12/2026

FAQ

What stake does JPMorgan (CMS) report in CMS Energy?

JPMorgan reports beneficial ownership of 15,469,213 shares, equal to 5.0% of CMS Energy's common stock as of 03/31/2026. The filing lists voting and dispositive powers held by various JPMorgan subsidiaries and is an ownership disclosure.

Which voting and dispositive powers are disclosed for JPMorgan (CMS)?

The filing shows sole voting power 13,046,897 and shared voting power 74,267. It also shows sole dispositive power 15,417,471 and shared dispositive power 51,375, all reported in the Schedule 13G/A ownership table.

What subsidiaries are named in the Schedule 13G/A for CMS Energy?

The Schedule lists multiple JPMorgan entities including J.P. Morgan Trust Company of Delaware, J.P. Morgan Securities LLC, JPMorgan Chase Bank, N.A., and others across jurisdictions, each associated with parts of the reported holdings.

When is the ownership figure effective and when was the schedule signed?

The ownership position is stated as of 03/31/2026, and the amendment is signed by Rachel Tsvaygoft, Vice President, with a signature date of 05/12/2026, as shown in the filing excerpt.