[SCHEDULE 13G] BRP Inc. Common Subordinate Voting Shares SEC Filing

Rhea-AI Filing Summary

Goldman Sachs Group and its affiliate Goldman Sachs & Co. LLC report beneficial ownership of 1,979,267.41 subordinate voting shares of BRP Inc., representing 5.7% of the class. The cover pages show shared voting power and shared dispositive power over the reported shares rather than sole control. The filing includes a joint filing agreement and an exhibit identifying Goldman Sachs as a subsidiary broker-dealer and registered investment adviser of the GS Group. A certification states the holdings are held in the ordinary course of business and not to influence control of the issuer.

Positive

• Beneficial ownership of 1,979,267.41 shares representing 5.7% of BRP's subordinate voting class is a material, clearly disclosed stake
• Certification of ordinary-course holdings and use of Schedule 13G indicate the position is reported as passive rather than as an attempt to influence control

Negative

• None.

Insights

Financial Analyst

TL;DR: Goldman Sachs reports a passive 5.7% stake (1.98M shares) in BRP, material in size but reported as non-control, shared authority noted.

The Schedule 13G discloses 1,979,267.41 subordinate voting shares, equal to 5.7% of the class, with both shared voting and shared dispositive power. The filing includes a certification that the position is held in the ordinary course of business and not for the purpose of influencing control, and a joint filing agreement between The Goldman Sachs Group, Inc. and Goldman Sachs & Co. LLC. Given the explicit certification and the 13G form, this is a passive ownership disclosure with limited immediate governance implications for BRP.

Corporate Governance Expert

TL;DR: Joint filing and exhibit show parent/subsidiary reporting; shared authority and the ordinary-course certification lower the likelihood this stake is a control attempt.

The filing identifies The Goldman Sachs Group, Inc. (reported as a parent holding company) and Goldman Sachs & Co. LLC (the subsidiary broker-dealer and registered investment adviser) and attaches a joint filing agreement. Reported descriptors include types such as HC, CO for the parent and BD, OO, IA for the affiliate. The combination of joint filing, shared voting/dispositive power and the Item 10 certification indicates the position is reported as passive rather than part of an activist or control-seeking effort.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

BRP INC.

(Name of Issuer)

Subordinate Voting 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

THE GOLDMAN SACHS GROUP, 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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,979,267.41
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,979,267.41

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,979,267.41

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)

5.7 %

12

Type of Reporting Person (See Instructions)

HC, CO

SCHEDULE 13G

CUSIP No. 05577W200

1

Names of Reporting Persons

GOLDMAN SACHS & CO. 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

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,979,267.41
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,979,267.41

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,979,267.41

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)

5.7 %

12

Type of Reporting Person (See Instructions)

BD, OO, IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: BRP INC.
(b)	Address of issuer's principal executive offices: 726 Saint-Joseph Street, Valcourt, A8, J0E 2L0
Item 2.
(a)	Name of person filing: THE GOLDMAN SACHS GROUP, INC.| GOLDMAN SACHS & CO. LLC
(b)	Address or principal business office or, if none, residence: The Goldman Sachs Group, Inc. 200 West Street New York, NY 10282| Goldman Sachs & Co. LLC 200 West Street New York, NY 10282
(c)	Citizenship: THE GOLDMAN SACHS GROUP, INC. - Delaware| GOLDMAN SACHS & CO. LLC - New York
(d)	Title of class of securities: Subordinate Voting 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: See the response(s) to Item 9 on the attached cover page(s).
(b)	Percent of class: See the response(s)to Item 11 on the attached cover page(s).
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See the response(s) to Item 5 on the attached cover page(s).
	(ii) Shared power to vote or to direct the vote: See the response(s) to Item 6 on the attached cover page(s).
	(iii) Sole power to dispose or to direct the disposition of: See the response(s) to Item 7 on the attached cover page(s).
	(iv) Shared power to dispose or to direct the disposition of: See the response(s) to Item 8 on the attached cover page(s).
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.
	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 Exhibit (99.2)
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.

THE GOLDMAN SACHS GROUP, INC.

Signature:	Name:Abhilasha Bareja
Name/Title:	Attorney-in-fact
Date:	07/17/2025

GOLDMAN SACHS & CO. LLC

Signature:	Name:Abhilasha Bareja
Name/Title:	Attorney-in-fact
Date:	07/17/2025

Exhibit Information

EXHIBIT (99.1) JOINT FILING AGREEMENT In accordance with Rule 13d-1(k)(1) promulgated under the Securities Exchange Act of 1934, the undersigned agree to the joint filing of a Statement on Schedule 13G (including any and all amendments thereto) with respect to the Subordinate Voting Shares of BRP INC. and further agree to the filing of this agreement as an Exhibit thereto. In addition, each party to this Agreement expressly authorizes each other party to this Agreement to file on its behalf any and all amendments to such Statement on Schedule 13G. Date: 07/17/2025 THE GOLDMAN SACHS GROUP, INC. By:/s/ Abhilasha Bareja ---------------------------------------- Name: Title: Attorney-in-fact GOLDMAN SACHS & CO. LLC By:/s/ Abhilasha Bareja ---------------------------------------- Name: Title: Attorney-in-fact EXHIBIT (99.2) ITEM 7 INFORMATION The securities being reported on by The Goldman Sachs Group, Inc. ("GS Group"), as a parent holding company, are owned, or may be deemed to be beneficially owned, by Goldman Sachs & Co. LLC ("Goldman Sachs"), a broker or dealer registered under Section 15 of the Act and an investment adviser registered under Section 203 of the Investment Advisers Act of 1940. Goldman Sachs is a subsidiary of GS Group.

FAQ

How many BRP Inc. (DOOO) subordinate voting shares does Goldman Sachs report?

The filing reports 1,979,267.41 subordinate voting shares as beneficially owned.

What percentage of BRP's subordinate voting shares does this represent?

The reported position represents 5.7% of the subordinate voting share class.

Does the filing indicate Goldman Sachs intends to influence control of BRP (DOOO)?

No; the filing includes a certification stating the securities are held in the ordinary course of business and were not acquired to change or influence control.

Who are the reporting persons named in the Schedule 13G?

The reporting persons are The Goldman Sachs Group, Inc. and Goldman Sachs & Co. LLC.

What voting or dispositive power is reported over these shares?

The cover pages show 0 sole voting/dispositive power and 1,979,267.41 in shared voting power and shared dispositive power.