Schedule 13G/A: Mackenzie discloses 4.1% of Stantec

Rhea-AI Filing Summary

Mackenzie Financial Corp. filed Amendment No. 9 to Schedule 13G reporting its beneficial ownership in Stantec Inc. (STN). Mackenzie reports ownership of 4,676,831 common shares, representing 4.1% of the class. The firm holds sole voting and sole dispositive power over 4,676,831 shares, with no shared voting or dispositive power.

The filing lists the reporting person as an investment adviser (IA) and includes a certification that the securities were not acquired and are not held for the purpose of changing or influencing control of Stantec. The date of the event requiring the filing is October 31, 2025.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 9)

STANTEC INC

(Name of Issuer)

Common Shares

(Title of Class of Securities)

85472N109

(CUSIP Number)

10/31/2025

(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. 85472N109

1

Names of Reporting Persons

MACKENZIE FINANCIAL CORP

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 4,676,831.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 4,676,831.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,676,831.00

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)

4.1 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: STANTEC INC
(b)	Address of issuer's principal executive offices: 300 10220 103 AVENUE NW, EDMONTON ALBERTA T5J 0K4 CANADA, EDMONTON, ALBERTA, CANADA, 00000
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: 4,676,831
(b)	Percent of class: 4.10%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 4,676,831
	(ii) Shared power to vote or to direct the vote: NIL
	(iii) Sole power to dispose or to direct the disposition of: 4,676,831
	(iv) Shared power to dispose or to direct the disposition of: NIL
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 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.

MACKENZIE FINANCIAL CORP

Signature:	Gillian Seidler
Name/Title:	Vice-President & Chief Compliance Officer
Date:	11/05/2025

FAQ

What did Mackenzie Financial report in its Schedule 13G/A for STN?

Mackenzie Financial reported beneficial ownership of 4,676,831 Stantec common shares, equal to 4.1% of the class.

How much voting power does Mackenzie have over STN shares?

Mackenzie has sole voting power over 4,676,831 shares and no shared voting power.

What is the dispositive power reported by Mackenzie over STN shares?

Mackenzie has sole dispositive power over 4,676,831 shares and no shared dispositive power.

What percentage of Stantec’s class does Mackenzie own (STN)?

Mackenzie reports ownership of 4.1% of Stantec’s common shares.

When is the event date associated with this STN Schedule 13G/A?

The date of the event requiring the filing is October 31, 2025.

How is Mackenzie Financial classified in the filing for STN?

The reporting person is classified as an Investment Adviser (IA).

Did Mackenzie indicate an intent to influence control of Stantec (STN)?

No. The certification states the securities were not acquired and are not held to change or influence control.