New Horizon Aircraft (HOVR) investor Canso discloses 13.3M-share, 17.7% stake

Rhea-AI Filing Summary

Canso Investment Counsel Ltd., a portfolio manager based in Ontario, Canada, reported beneficial ownership of 13,323,128 Class A Ordinary Shares of New Horizon Aircraft Ltd. This represents 17.7% of the class, filed on a Schedule 13G/A (Amendment No. 5).

The position includes 4,834,239 Class A Ordinary Shares held directly and 8,488,889 Class A Ordinary Shares issuable upon conversion of the issuer’s Series A Preferred Shares held by Canso. Canso has sole voting and dispositive power over all reported shares, with no shared voting or dispositive power. The securities are owned of record by certain managed accounts of Canso, which have rights to dividends and sale proceeds.

Key Figures

Beneficial ownership: 13,323,128 Class A Ordinary Shares Percent of class: 17.7% Direct Class A holdings: 4,834,239 Class A Ordinary Shares +3 more

6 metrics

Beneficial ownership 13,323,128 Class A Ordinary Shares Total shares beneficially owned by Canso Investment Counsel Ltd.

Percent of class 17.7% Portion of New Horizon Aircraft Ltd. Class A Ordinary Shares

Direct Class A holdings 4,834,239 Class A Ordinary Shares Shares held directly by Canso Investment Counsel Ltd.

Shares issuable on conversion 8,488,889 Class A Ordinary Shares Class A shares issuable upon conversion of Series A Preferred Shares held by Canso

Sole voting power 13,323,128 Shares over which Canso has sole power to vote or direct the vote

Shared voting power 0 Shares over which Canso has shared power to vote or direct the vote

Key Terms

beneficially owned, sole voting power, sole dispositive power, managed accounts, +1 more

5 terms

beneficially owned financial

"The shares reported as beneficially owned include (i) 4,834,239 Class A Ordinary Shares"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

sole voting power financial

"Sole Voting Power 13,323,128.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

sole dispositive power financial

"Sole Dispositive Power 13,323,128.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

managed accounts financial

"owned of record by certain managed accounts of Canso Investment Counsel Ltd."

Managed accounts are collections of investments owned by an individual or institution but run day-to-day by a professional who buys, sells and allocates assets according to an agreed plan. They matter to investors because they provide tailored oversight, active risk control and potential tax efficiency—like hiring a personal chef to manage your diet—while fees and the manager’s skill directly affect returns.

Schedule 13G regulatory

"information that would otherwise be disclosed in a Schedule 13D."

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

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FAQ

What stake in New Horizon Aircraft Ltd. (HOVR) does Canso Investment Counsel Ltd. report?

Canso Investment Counsel Ltd. reports beneficial ownership of 13,323,128 Class A Ordinary Shares of New Horizon Aircraft Ltd., representing 17.7% of the class, according to its Schedule 13G/A (Amendment No. 5) filing.

How is Canso’s reported 13,323,128-share position in HOVR structured?

The 13,323,128 shares reported by Canso include 4,834,239 Class A Ordinary Shares held directly and 8,488,889 Class A Ordinary Shares issuable upon conversion of Series A Preferred Shares held by Canso.

What percentage of New Horizon Aircraft Ltd. (HOVR) does Canso’s holding represent?

Canso’s beneficial ownership represents 17.7% of New Horizon Aircraft Ltd.’s Class A Ordinary Shares, giving it a significant minority stake with sole voting and dispositive power over the reported shares.

Does Canso share voting or dispositive power over its HOVR shares?

Canso reports sole voting power and sole dispositive power over 13,323,128 shares, with 0 shares under shared voting or shared dispositive power, indicating exclusive control over voting and disposition decisions.

Who ultimately benefits from Canso’s HOVR holdings?

The securities reported as beneficially owned by Canso are held in certain managed accounts. These managed accounts have the right to receive dividends and proceeds from any sale of the New Horizon Aircraft Ltd. shares.

What type of securities form part of Canso’s beneficial ownership in HOVR?

Canso’s beneficial ownership includes Class A Ordinary Shares and additional Class A shares issuable upon conversion of the issuer’s Series A Preferred Shares, totaling 13,323,128 Class A Ordinary Shares on a converted basis.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 5)

New Horizon Aircraft Ltd.

(Name of Issuer)

Class A Ordinary Shares

(Title of Class of Securities)

64550A107

(CUSIP Number)

07/31/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 64550A107

1

Names of Reporting Persons

Canso Investment Counsel Ltd.

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 13,323,128.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 13,323,128.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

13,323,128.00

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)

17.7 %

12

Type of Reporting Person (See Instructions)

FI

Comment for Type of Reporting Person: The shares reported as beneficially owned include (i) 4,834,239 Class A Ordinary Shares held directly by the reporting person and (ii) 8,488,889 Class A Ordinary Shares issuable to the reporting person upon the conversion of the Issuer's Series A Preferred Shares held by the reporting person.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: New Horizon Aircraft Ltd.
(b)	Address of issuer's principal executive offices: 3187 Highway 35 Lindsay, Ontario, K9V 4R1
Item 2.
(a)	Name of person filing: Canso Investment Counsel Ltd.
(b)	Address or principal business office or, if none, residence: 100 York Boulevard, Suite 550, Richmond Hill, Ontario, L4B1J8, Canada
(c)	Citizenship: Ontario, Canada
(d)	Title of class of securities: Class A Ordinary Shares
(e)	CUSIP No.: 64550A107
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).
	Portfolio manager registered in Ontario, Canada and other Canadian provinces
Item 4.	Ownership
(a)	Amount beneficially owned: 13,323,128
(b)	Percent of class: 17.7%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 13,323,128
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 13,323,128
	(iv) Shared power to dispose or to direct the disposition of: 0
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.
	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. The securities reported to be beneficially owned by Canso Investment Counsel Ltd. are owned of record by certain managed accounts of Canso Investment Counsel Ltd. These managed accounts have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities.
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 foreign regulatory scheme applicable to a portfolio manager registered in Ontario, Canada and other Canadian provinces is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the 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.

Canso Investment Counsel Ltd.

Signature:	/s/ Jeff Tang
Name/Title:	Jeff Tang, Portfolio Manager and Chief Compliance Officer
Date:	08/10/2026