T. Rowe Price Investment Management (OR) discloses 3.4% ownership in OR Royalties

Rhea-AI Filing Summary

T. Rowe Price Investment Management, Inc. filed an amended Schedule 13G reporting its holdings in OR ROYALTIES INC. The firm reports beneficial ownership of 6,421,546 shares of common stock, representing 3.4% of the class. It has sole voting power over 6,412,740 shares and sole dispositive power over 6,421,546 shares, with no shared voting or dispositive power. The filing 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 the company, and it expressly denies beneficial ownership beyond what is required to be reported.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

OR ROYALTIES INC

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

68390D106

(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. 68390D106

1

Names of Reporting Persons

T. Rowe Price Investment Management, 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

MARYLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 6,412,740.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 6,421,546.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,421,546.00

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)

3.4 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: OR ROYALTIES INC
(b)	Address of issuer's principal executive offices: 1100 AVENUE DES CANADIENS-DE-MONTREAL, SUITE 300, MONTREAL, A8, H3B 2S2
Item 2.
(a)	Name of person filing: T. Rowe Price Investment Management, Inc.
(b)	Address or principal business office or, if none, residence: 1307 Point Street, Baltimore, MD 21231
(c)	Citizenship: Maryland
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP No.: 68390D106
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: 6421546
(b)	Percent of class: 3.4 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 6412740
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 6421546
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	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. T. Rowe Price Investment Management, Inc. hereby declares and affirms that the filing of Schedule 13G shall not be construed as an admission that Price Investment Management is the beneficial owner of the securities referred to, which beneficial ownership is expressly denied.

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.

T. Rowe Price Investment Management, Inc.

Signature:	Ellen York
Name/Title:	Vice President
Date:	02/17/2026

FAQ

What stake does T. Rowe Price Investment Management hold in OR (OR ROYALTIES INC)?

T. Rowe Price Investment Management reports beneficial ownership of 6,421,546 OR common shares, representing 3.4% of the class. It has sole voting power over 6,412,740 shares and sole dispositive power over 6,421,546 shares, with no shared voting or dispositive authority disclosed.

Is T. Rowe Price Investment Management seeking control of OR ROYALTIES INC?

The filing states the OR shares were acquired and are held in the ordinary course of business, not to change or influence control. It also notes the position is not held in connection with any transaction intended to affect control, other than limited nomination-related activities referenced in the certification.

Why did T. Rowe Price Investment Management file an amended Schedule 13G for OR?

An amended Schedule 13G updates ownership information for OR common stock as of 12/31/2025. T. Rowe Price Investment Management reports a 3.4% stake and clarifies its voting and dispositive powers, along with standard certifications about ordinary-course investment and lack of control intent.

What voting power does T. Rowe Price Investment Management have over OR shares?

T. Rowe Price Investment Management reports sole power to vote 6,412,740 OR shares and no shared voting power. It also indicates sole power to dispose of 6,421,546 shares and no shared dispositive power, defining how it can exercise rights attached to the position.

How does T. Rowe Price classify its ownership level in OR ROYALTIES INC?

The filing notes ownership of 3.4% of OR’s common stock, which falls under the category of ownership of 5 percent or less of a class. This level still requires Schedule 13G reporting but indicates a non-controlling, minority investment stake.

Does T. Rowe Price Investment Management claim full beneficial ownership of the OR shares?

T. Rowe Price Investment Management expressly denies beneficial ownership of the OR securities beyond what must be reported. It states that the filing should not be construed as an admission of beneficial ownership of the reported shares, consistent with common institutional reporting language.