CPP Investment Board reports 6.7% Equitable Holdings (NYSE: EQH) position

Rhea-AI Filing Summary

Canada Pension Plan Investment Board has filed an amended Schedule 13G reporting beneficial ownership of 19,284,053 shares of Equitable Holdings, Inc. common stock, representing 6.7% of the class. This percentage is based on 286,532,039 shares outstanding as of November 5, 2025, as cited from the company’s Form 10-Q.

The filing shows CPP Investments has sole voting and dispositive power over all reported shares and no shared power. It states the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Equitable Holdings.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Equitable Holdings, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

29452E101

(CUSIP Number)

12/31/2025

(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. 29452E101

1

Names of Reporting Persons

Canada Pension Plan Investment Board

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

CANADA (FEDERAL LEVEL)

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 19,284,053.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 19,284,053.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

19,284,053.00

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)

6.7 %

12

Type of Reporting Person (See Instructions)

FI

Comment for Type of Reporting Person: Item 11 is calculated based on a total of 286,532,039 shares of common stock of the issuer outstanding as of November 5, 2025, as disclosed in the issuer's Form 10-Q filed with the Securities and Exchange Commission on November 7, 2025.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Equitable Holdings, Inc.
(b)	Address of issuer's principal executive offices: 1345 Avenue of the Americas New York, New York 10105
Item 2.
(a)	Name of person filing: Canada Pension Plan Investment Board
(b)	Address or principal business office or, if none, residence: One Queen Street East, Suite 2500, Toronto, Ontario M5C 2W5 Canada
(c)	Citizenship: Canada
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 29452E101
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).
	Pension investment manager subject to the Canada Pension Plan Investment Board Act.
Item 4.	Ownership
(a)	Amount beneficially owned: See Item 9 on page 2.
(b)	Percent of class: See Item 11 on page 2.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Item 5 on page 2.
	(ii) Shared power to vote or to direct the vote: See Item 6 on page 2.
	(iii) Sole power to dispose or to direct the disposition of: See Item 7 on page 2.
	(iv) Shared power to dispose or to direct the disposition of: See Item 8 on page 2.
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.
	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 Canadian regulatory scheme applicable to a pension investment manager subject to the Canada Pension Plan Investment Board Act is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Securities and Exchange Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.

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.

Canada Pension Plan Investment Board

Signature:	/s/ Howard Rusak
Name/Title:	Managing Director, Legal
Date:	02/13/2026

Exhibit Information

99.1 Power of Attorney of Canada Pension Plan Investment Board

FAQ

How many Equitable Holdings (EQH) shares does Canada Pension Plan Investment Board report owning?

Canada Pension Plan Investment Board reports beneficial ownership of 19,284,053 Equitable Holdings shares. The filing states this entire amount is subject to sole voting and sole dispositive power, with no shares reported under shared voting or shared dispositive authority.

What percentage of Equitable Holdings (EQH) does Canada Pension Plan Investment Board hold?

The filing reports that CPP Investments holds 6.7% of Equitable Holdings’ common stock. This percentage is calculated using 286,532,039 shares outstanding as of November 5, 2025, as disclosed in Equitable Holdings’ Form 10-Q filed in November 2025.

On what share count is Canada Pension Plan Investment Board’s 6.7% EQH stake based?

The 6.7% ownership figure is based on 286,532,039 shares of Equitable Holdings common stock outstanding. That total outstanding share count comes from Equitable Holdings’ Form 10-Q, which reported shares outstanding as of November 5, 2025, and is cited in the ownership calculation.

Does Canada Pension Plan Investment Board seek to influence control of Equitable Holdings (EQH)?

The filing states the EQH shares were acquired and are held in the ordinary course of business. It expressly certifies they were not acquired and are not held for the purpose of changing or influencing control of Equitable Holdings or in connection with such a transaction.

What voting and dispositive powers over Equitable Holdings (EQH) shares does CPP Investments report?

CPP Investments reports sole voting power over 19,284,053 Equitable Holdings shares and sole dispositive power over the same amount. The filing shows zero shared voting power and zero shared dispositive power, indicating control over how all reported shares are voted and disposed.

What type of reporting person is Canada Pension Plan Investment Board in this EQH Schedule 13G/A?

Canada Pension Plan Investment Board identifies itself as a pension investment manager. It certifies that it is subject to the Canada Pension Plan Investment Board Act and that its Canadian regulatory regime is substantially comparable to that of functionally equivalent U.S. institutions for reporting purposes.