[SCHEDULE 13G/A] Canadian Solar Inc. SEC Filing

Rhea-AI Filing Summary

Canadian Solar Inc. (CSIQ) is reported as having significant institutional ownership by Mackenzie Financial Corporation. Mackenzie beneficially owns 5,884,865 common shares, representing 8.79% of the class, and reports sole voting and dispositive power over those shares. The filing states these holdings are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer. The report is a Schedule 13G amendment identifying Mackenzie as an investment adviser reporting ownership above the 5% threshold.

Positive

• Mackenzie Financial disclosed a substantial stake of 5,884,865 shares in Canadian Solar, indicating institutional interest
• Position represents 8.79% of the class, surpassing the 5% reporting threshold and providing transparency to the market
• Sole voting and dispositive power reported for all disclosed shares, clarifying control over those shares
• Certifies holdings held in ordinary course, stating they are not for the purpose of changing or influencing control

Negative

• None.

Insights

Securities Analyst

TL;DR: Mackenzie holds a meaningful ~8.8% stake in CSIQ with sole voting and dispositive power; filing is a routine institutional disclosure.

Mackenzie Financial Corporation discloses ownership of 5,884,865 common shares of Canadian Solar, equal to 8.79% of the class, and asserts sole voting and dispositive authority. This is a standard Schedule 13G/A disclosure for an investment adviser reporting passive holdings above the 5% threshold. The statement indicates the position is held in the ordinary course of business and not to influence control, reducing takeover/governance implications. Materiality is limited to signaling institutional interest.

Compliance/Risk Analyst

TL;DR: Filing confirms regulatory compliance and certifies holdings are passive; no red flags in the certification language.

The filing includes the required certification that the securities are held in the ordinary course and not for the purpose of changing control, consistent with Rule 13d-1(b) reporting. Mackenzie reports sole voting and dispositive power for 5,884,865 shares. From a compliance perspective, the amendment and the executed certification by the named officer indicate adherence to disclosure obligations; there is no indication of coordinated group action or unusual arrangements disclosed.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 5)

Canadian Solar Inc.

(Name of Issuer)

Common Shares

(Title of Class of Securities)

136635109

(CUSIP Number)

06/30/2025

(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. 136635109

1

Names of Reporting Persons

MACKENZIE 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

ONTARIO, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 5,884,865.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 5,884,865.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,884,865.00

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)

8.8 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Canadian Solar Inc.
(b)	Address of issuer's principal executive offices: 4273 KING STREET EAST, SUITE 102, KITCHENER, ONTARIO, CANADA, N2P 2E9
Item 2.
(a)	Name of person filing: Mackenzie Financial Corporation
(b)	Address or principal business office or, if none, residence: 180 Queen Street West, Toronto, Ontario M5V 3K1
(c)	Citizenship: Organized in Toronto, Ontario, Canada
(d)	Title of class of securities: Common Shares
(e)	CUSIP No.: 136635109
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: 5,884,865
(b)	Percent of class: 8.79 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 5,884,865
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 5,884,865
	(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.
	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 securities referred to above 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.

MACKENZIE FINANCIAL CORP

Signature:	Gillian Seidler
Name/Title:	Vice-President & Chief Compliance Officer
Date:	08/14/2025

FAQ

How many Canadian Solar (CSIQ) shares does Mackenzie Financial own?

Mackenzie Financial beneficially owns 5,884,865 common shares of Canadian Solar as disclosed in the Schedule 13G/A.

What percentage of CSIQ does Mackenzie Financial own?

The filing reports ownership equal to 8.79% of the class.

Does Mackenzie have voting control over the CSIQ shares it owns?

Yes; the filing reports sole voting power and sole dispositive power for the 5,884,865 shares.

Is Mackenzie holding these CSIQ shares to influence control of the company?

The certification in the filing states the shares are held in the ordinary course of business and not to change or influence control.

What type of SEC filing disclosed Mackenzie’s CSIQ stake?

The ownership was disclosed in a Schedule 13G/A, an amendment reporting substantial passive ownership by an institutional investor.