[SCHEDULE 13G/A] GFL Environmental Inc. Subordinate Voting Shares SEC Filing

Rhea-AI Filing Summary

Filing: Amendment No. 5 to Schedule 13G filed for GFL ENVIRONMENTAL INC (CUSIP 36168Q104) reporting beneficial ownership as of 06/30/2025.

• Reporting persons: FMR LLC and Abigail P. Johnson.
• Beneficial ownership: 34,069,083.06 shares ( 9.6% of subordinate voting shares).
• Voting/Dispositive power (FMR LLC): Sole voting power 30,442,742.62; sole dispositive power 34,069,083.06; shared powers 0.00.
• Signatures/Dates: Signed 08/05/2025; power of attorney referenced (Exhibit 24 to prior Schedule 13G).

This Schedule 13G/A references Exhibit 99 for a 13d-1(k)(1) agreement and includes the Item 10 certification that the securities are held in the ordinary course of business and not to influence control.

Positive

• FMR LLC beneficially owns 34,069,083.06 shares, representing 9.6% of GFL subordinate voting shares as of 06/30/2025.
• FMR LLC reports sole voting power of 30,442,742.62 and sole dispositive power of 34,069,083.06, with shared powers reported as 0.00.

Negative

• None.

Insights

Financial Analyst

TL;DR: FMR LLC and Abigail P. Johnson report a material 9.6% beneficial stake (34.07M shares) in GFL; disclosure is routine.

The filing discloses a 9.6% beneficial interest equal to 34,069,083.06 subordinate voting shares as of 06/30/2025. FMR LLC reports sole voting power of 30,442,742.62 and sole dispositive power of 34,069,083.06. The amendment (No. 5) and referenced exhibits (Exhibit 99 and power of attorney Exhibit 24) document procedural and representative details. Item 10 certification affirms holdings are in the ordinary course of business and not intended to effect control. For investors, this is material disclosure of a >5% holder but contains no operative changes to governance or strategy in the filing itself.

Corporate Governance Expert

TL;DR: Schedule 13G/A shows no group formation and affirms ordinary-course holdings; voting/dispositive power split is documented.

The report identifies FMR LLC (classified HC) and Abigail P. Johnson (IN) as reporting persons. The filing indicates no shared voting or dispositive power and states that no group is applicable. The Item 10 statement and referenced power of attorney limit this filing to disclosure of ownership rather than an intent to influence control. Exhibit references (Exhibit 99 for a 13d-1(k)(1) agreement and Exhibit 24 for the power of attorney) provide supporting documentation for representative authority. Impact on governance is not asserted within the filing.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 5)

GFL ENVIRONMENTAL INC

(Name of Issuer)

SUBORDINATE VOTING SHARES

(Title of Class of Securities)

36168Q104

(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. 36168Q104

1

Names of Reporting Persons

FMR 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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 30,442,742.62
6	Shared Voting Power 0.00
7	Sole Dispositive Power 34,069,083.06
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

34,069,083.06

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)

9.6 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

CUSIP No. 36168Q104

1

Names of Reporting Persons

Abigail P. Johnson

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

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 34,069,083.06
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

34,069,083.06

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)

9.6 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: GFL ENVIRONMENTAL INC
(b)	Address of issuer's principal executive offices: 100 NEW PARK PLACE,SUITE 500,VAUGHAN,A6,Canada,L4K 0H9
Item 2.
(a)	Name of person filing: FMR LLC
(b)	Address or principal business office or, if none, residence: 245 Summer Street, Boston, Massachusetts 02210
(c)	Citizenship: Not applicable
(d)	Title of class of securities: SUBORDINATE VOTING SHARES
(e)	CUSIP No.: 36168Q104
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: 34069083.06
(b)	Percent of class: 9.6 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Please see the responses to Items 5 and 6 on the cover page.
	(ii) Shared power to vote or to direct the vote: 0.00
	(iii) Sole power to dispose or to direct the disposition of: 34069083.06
	(iv) Shared power to dispose or to direct the disposition of: 0.00
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. One or more other persons are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the SUBORDINATE VOTING SHARES of GFL ENVIRONMENTAL INC. No one other person's interest in the SUBORDINATE VOTING SHARES of GFL ENVIRONMENTAL INC is more than five percent of the total outstanding SUBORDINATE VOTING SHARES.
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 attached Exhibit 99.
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.

FMR LLC

Signature:	Richard Bourgelas
Name/Title:	Duly authorized under Power of Attorney effective as of May 23, 2023, by and on behalf of FMR LLC and its direct and indirect subsidiaries*
Date:	08/05/2025

Abigail P. Johnson

Signature:	Richard Bourgelas
Name/Title:	Duly authorized under Power of Attorney effective as of May 23, 2023, by and on behalf of Abigail P. Johnson*
Date:	08/05/2025

Comments accompanying signature: *This power of attorney is incorporated herein by reference to Exhibit 24 to the Schedule 13G filed by FMR LLC on August 8, 2023, accession number: 0000315066-23-002397.

Exhibit Information

Please see Exhibit 99 for 13d-1(k) (1) agreement.

FAQ

What stake does FMR LLC report in GFL (GFL) on this Schedule 13G/A?

The filing reports 34,069,083.06 beneficial shares, representing 9.6% of GFL subordinate voting shares.

As of what date are the ownership figures reported in the filing?

The reported ownership is as of 06/30/2025 and the filing is signed on 08/05/2025.

What voting and dispositive powers does FMR LLC claim in this filing?

FMR LLC reports sole voting power of 30,442,742.62 and sole dispositive power of 34,069,083.06; shared powers are 0.00.

Does the filing indicate any intent to change or influence control of GFL?

No; Item 10 includes a certification that the securities are held in the ordinary course of business and were not acquired to change or influence control.

What exhibits does the Schedule 13G/A reference for additional documentation?

The filing references Exhibit 99 for the 13d-1(k)(1) agreement and cites Exhibit 24 (power of attorney) incorporated by reference.