Institutional Holder Mackenzie Reports 2.85M BRP Shares (8.25%)

Rhea-AI Filing Summary

Mackenzie Financial Corporation filed a Schedule 13G/A reporting beneficial ownership of 2,847,424 common shares of BRP Inc. (CUSIP 05577W200), representing 8.25% of the class. The filer reports sole voting and sole dispositive power over all shares and states the securities were acquired and held in the ordinary course of business, not to influence control of the issuer. The filing lists Mackenzies Toronto address and BRPs principal executive office in Valcourt, Quebec. The form is certified by Gillian Seidler, Vice-President & Chief Compliance Officer, dated 08/14/2025.

Positive

• Institutional ownership above 5% (2,847,424 shares, 8.25%) provides transparency on significant holders
• Sole voting and dispositive power is clearly disclosed, removing ambiguity about control over the position
• Certification of ordinary-course investment intent indicates no stated plan to change or influence issuer control

Negative

• None.

Insights

Securities Analyst

TL;DR: An institutional investor reports an 8.25% stake with full voting and dispositive control, a material ownership disclosure.

The filing discloses Mackenzie Financial Corporation as an investment adviser organization holding 2,847,424 BRP Inc. common shares (8.25%). Sole voting and dispositive power is reported, which means Mackenzie can unilaterally vote and sell these shares. The statement asserts ordinary-course investment intent, not an attempt to influence control. For investors, a single institutional holder above 5% is notable because it increases monitoring and potential engagement by a governance-minded holder, but the filing contains no indication of activist intent or transaction plans.

Corporate Governance Expert

TL;DR: Disclosure shows a material passive stake; governance influence is possible but not asserted.

Mackenzies reported sole voting power over an 8.25% position makes it a significant shareholder for governance tracking. The certification clarifies holdings are ordinary-course and not for control purposes, reducing immediate regulatory or strategic concern. Still, shareholders and the board should note the holders size for proxy and engagement considerations. The filing does not identify any group affiliations or subsidiary acquisitions tied to this position.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 7)

BRP Inc.

(Name of Issuer)

Common Shares

(Title of Class of Securities)

05577W200

(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. 05577W200

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 2,847,424.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,847,424.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,847,424.00

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)

8.3 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: BRP Inc.
(b)	Address of issuer's principal executive offices: 726 SAINT-JOSEPH STREET, VALCOURT, QUEBEC, CANADA, J0E 2L0
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.: 05577W200
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: 2,847,424
(b)	Percent of class: 8.25 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 2,847,424
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 2,847,424
	(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 BRP Inc. shares does Mackenzie Financial Corp report owning (DOOO)?

Mackenzie reports beneficial ownership of 2,847,424 common shares of BRP Inc., representing 8.25% of the class.

Does Mackenzie Financial have voting control over the BRP shares?

Yes. The filing reports sole voting power and sole dispositive power for all 2,847,424 shares.

Is Mackenzie filing as part of a group or on behalf of others?

No. The filing indicates no group affiliation and does not report shared voting or dispositive power.

Was the stake acquired to influence control of BRP Inc.?

The certification states the securities were acquired and are held in the ordinary course of business and not to change or influence control.

Who signed the Schedule 13G/A for Mackenzie and when?

The filing was certified by Gillian Seidler, Vice-President & Chief Compliance Officer, dated 08/14/2025.