JPMorgan files 13G/A on Copa (CPA), 5.3% passive stake

Rhea-AI Filing Summary

JPMorgan Chase & Co. filed Amendment No. 12 to Schedule 13G reporting beneficial ownership of 1,602,945 shares of Copa Holdings, S.A. (Class A), representing 5.3% of the class as of the event date 09/30/2025.

The filing lists 1,348,979 shares with sole voting power and 48,477 with shared voting power. It also reports 1,602,945 shares with sole dispositive power and 0 with shared dispositive power.

JPMorgan certifies the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 12)

COPA HOLDINGS, S.A.

(Name of Issuer)

Class A Common Stock, without par value

(Title of Class of Securities)

P31076105

(CUSIP Number)

09/30/2025

(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. P31076105

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 1,348,979.00
6	Shared Voting Power 48,477.00
7	Sole Dispositive Power 1,602,945.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,602,945.00

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)

5.3 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: COPA HOLDINGS, S.A.
(b)	Address of issuer's principal executive offices: Avenida Principal Costa del Este Complejo Business Park Torre Norte Panama City R1 0816-06819
Item 2.
(a)	Name of person filing: JPMORGAN CHASE & CO.
(b)	Address or principal business office or, if none, residence: 383 Madison Avenue,,New York, NY 10179
(c)	Citizenship: DE
(d)	Title of class of securities: Class A Common Stock, without par value
(e)	CUSIP No.: P31076105
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: 1602945
(b)	Percent of class: 5.3 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1348979
	(ii) Shared power to vote or to direct the vote: 48477
	(iii) Sole power to dispose or to direct the disposition of: 1602945
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	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. 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 Securities LLC; JPMorgan Asset Management (UK) Limited; JPMorgan Chase Bank, National Association; J.P. Morgan Investment Management Inc.; JPMorgan Asset Management (Taiwan) Limited; JPMorgan Asset Management (China) Company Limited
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. Not Applicable
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. 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:	10/24/2025

FAQ

What did JPMorgan disclose about Copa Holdings (CPA)?

It reported beneficial ownership of 1,602,945 Class A shares of Copa Holdings, equal to 5.3% of the class.

What voting powers did JPMorgan report for CPA shares?

It reported 1,348,979 shares with sole voting power and 48,477 with shared voting power.

What dispositive powers did JPMorgan report for CPA?

It reported 1,602,945 shares with sole dispositive power and 0 with shared dispositive power.

What is the event date for JPMorgan’s CPA ownership report?

The event date is 09/30/2025.

Is JPMorgan’s stake in CPA passive or for control?

The certification states the shares were acquired and are held in the ordinary course and not to influence control.

Which form did JPMorgan file for its CPA stake?

A Schedule 13G/A (Amendment No. 12) for Class A Common Stock of Copa Holdings, S.A.

Which JPMorgan subsidiaries are listed in the filing?

Subsidiaries include J.P. Morgan Securities LLC, JPMorgan Chase Bank, N.A., and other asset management entities named in the filing.