Toast: Capital International Investors Holds 5.9% Stake

Toast, Inc. Amendment No. 2: Capital International Investors reports beneficial ownership of 30,741,881 shares (5.9%) of Common Stock (CUSIP 888787108).

Rhea-AI Filing Summary

Toast, Inc. Amendment No. 2: Capital International Investors reports beneficial ownership of 30,741,881 shares (5.9%) of Common Stock (CUSIP 888787108).

The filing states sole voting power of 30,704,628 shares and sole dispositive power of 30,741,881 shares. The filer describes the reporting entity as the division "Capital International Investors" within Capital Research and Management Company and affiliated investment management entities. The schedule is signed by Aaron Espin on 05/13/2026.

Insights

Institutional Ownership Analyst

Capital International Investors holds a meaningful passive stake in Toast at 5.9%.

This Schedule 13G/A amendment records an institutional holding of 30,741,881 shares, representing 5.9% of the 524,000,000 shares noted in the filing as outstanding. The filing attributes voting and dispositive powers to the investment management entities that operate under the name Capital International Investors.

Disclosure is typical for passive institutional holders reporting under beneficial ownership rules; shareholder actions or trading plans are not described in the excerpt. Subsequent filings would show changes in position over time.

Key Figures

Beneficially owned: 30,741,881 shares Percent of class: 5.9% Sole voting power: 30,704,628 shares +3 more

6 metrics

Beneficially owned 30,741,881 shares reported in Schedule 13G/A Amendment No.2

Percent of class 5.9% of 524,000,000 shares believed outstanding

Sole voting power 30,704,628 shares voting power reported by filer

Sole dispositive power 30,741,881 shares dispositive power reported by filer

Shares outstanding (as stated) 524,000,000 shares figure used to calculate percent ownership

Signature date 05/13/2026 date the form was signed

Key Terms

Schedule 13G/A, beneficially owned, sole dispositive power, sole voting power

4 terms

Schedule 13G/A regulatory

"Amendment No. 2 ) Toast, Inc. Common Stock"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

beneficially owned regulatory

"CII is deemed to be the beneficial owner of 30,741,881 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 dispositive power regulatory

"Sole power to dispose or to direct the disposition of: 30,741,881"

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.

sole voting power regulatory

"Sole power to vote or to direct the vote: 30,704,628"

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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What stake does Capital International Investors report in Toast (TOST)?

Capital International Investors reports beneficial ownership of 30,741,881 shares representing 5.9%. This figure is stated in the Schedule 13G/A amendment and binds to the Common Stock CUSIP 888787108.

How much voting power does the filer hold according to the filing?

The filing states the filer has sole voting power for 30,704,628 shares. The Schedule 13G/A lists both voting and dispositive power amounts and treats them as holdings attributable to Capital International Investors.

What is the shares outstanding figure cited in the Schedule 13G/A?

The filing references 524,000,000 shares believed to be outstanding. The 5.9% ownership percentage is computed against that outstanding share count as stated in the document.

Who signed the Schedule 13G/A amendment for this filing?

The Schedule 13G/A Amendment No. 2 is signed by Aaron Espin, listed as Senior Vice President, with signature date 05/13/2026 on the form.

Does this filing indicate active trading intentions by the filer?

No trading intentions are described in this excerpt; the form records beneficial ownership of 30,741,881 shares. The filing identifies the filer as an institutional investment management group, not a statement of intent to buy or sell.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/14/2026 - 12:52 PM EDT Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

Toast, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

888787108

(CUSIP Number)

03/31/2026

(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): 888787108

1

Names of Reporting Persons

Capital International Investors

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 30,704,628.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 30,741,881.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

30,741,881.00

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)

5.9 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Toast, Inc.
(b)	Address of issuer's principal executive offices: 333 Summer Street, Boston, MA 2210
Item 2.
(a)	Name of person filing: Capital International Investors
(b)	Address or principal business office or, if none, residence: 333 South Hope Street, 55th Fl, Los Angeles, CA 90071
(c)	Citizenship: N/A
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 888787108
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: 30,741,881 ** **Capital International Investors ("CII") is a division of Capital Research and Management Company ("CRMC"), as well as its investment management subsidiaries and affiliates Capital Bank and Trust Company, Capital International, Inc., Capital International Limited, Capital International Sarl, Capital International K.K., Capital Group Private Client Services, Inc., and Capital Group Investment Management Private Limited (together with CRMC, the "investment management entities"). CII's divisions of each of the investment management entities collectively provide investment management services under the name "Capital International Investors." CII is deemed to be the beneficial owner of 30,741,881 shares or 5.9% of the 524,000,000 shares believed to be outstanding.
(b)	Percent of class: 5.9 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 30,704,628
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 30,741,881
	(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.
	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.

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.

Capital International Investors

Signature:	Aaron Espin
Name/Title:	Senior Vice President
Date:	05/13/2026