[SCHEDULE 13D/A] THOMSON REUTERS CORP /CAN/ SEC Filing
Filing Impact
Filing Sentiment
Form Type
SCHEDULE 13D/A
Thomson Investments Limited, Woodbridge and affiliates filed Amendment No. 23 to Schedule 13D regarding Thomson Reuters. The group reports beneficial ownership of 313,595,574 Common Shares, representing 70.5% of the class, based on 444,842,487 shares outstanding as of October 31, 2025.
The update reflects internal reorganizations and wind-ups among affiliated entities. On November 6, 2025, 1000706525 Ontario Limited consolidated 62,000,000 shares from ten Woodbridge subsidiaries; no single subsidiary transferred 1% or more. Other movements include a 45,357-share acquisition via the DRIP by 1396164 Ontario Limited, and a charity sale of 25,000 shares. Several Ontario numbered companies ceased to be reporting persons following wind-ups.
The filing notes pledged shares: 96,019 shares newly pledged and an aggregate of 2,935,697 shares pledged to Royal Bank of Canada under nine demand credit facilities. It also lists director DSUs outstanding: David K.R. Thomson 131,817, Peter J. Thomson 17,127, and Michael Friisdahl 461. The reporting persons state they plan to maintain their controlling interest and may acquire or dispose of shares from time to time.
Positive
- None.
Negative
- None.
Insights
Ownership remains stable at 70.5% after internal transfers.
Woodbridge and affiliates disclose
The group indicates an intent to maintain control while reserving flexibility to buy or sell shares. Pledged shares total 2,935,697 under nine demand credit facilities, a modest encumbrance relative to the reported stake. DSUs held by directors (non‑voting, cash or share‑settled after service) do not affect voting control.
Given the administrative nature and unchanged control, the immediate investment thesis impact appears limited. Subsequent disclosures may detail further intra‑group reorganizations or routine stake adjustments.
|
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 |
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 23)
|
THOMSON REUTERS CORP /CAN/ (Name of Issuer) |
Common Shares of Thomson Reuters Corporation (Title of Class of Securities) |
884903709 (CUSIP Number) |
David Colman 65 Queen Street West, Suite 2400, Toronto, A6, M5H 2M8 (416)-364-8700 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) |
11/06/2025 (Date of Event Which Requires Filing of This Statement) |
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.
The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the
Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other
provisions of the Act (however, see the Notes).
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
THOMSON INVESTMENTS LIMITED | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
313,595,574.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
70.5 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to rows 8 and 10 above, includes 300,638,534 common shares of Thomson Reuters Corporation ("Common Shares") beneficially owned by The Woodbridge Company Limited and subsidiaries and 12,957,040 Common Shares beneficially owned by the family of the late Roy H. Thomson, the first Lord Thomson of Fleet through various affiliated corporations.
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
Woodbridge CO LTD | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
300,638,534.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
67.58 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
1908720 ONTARIO LIMITED | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
188,772,148.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
42.4 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
1000706525 ONTARIO LIMITED | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
98,348,839.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
22.1 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
1396164 Ontario Limited | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
13,008,524.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
2.9 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
1925124 Ontario Limited | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
506,720.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.1 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
Woodbridge Investments Corporation | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
2,303.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
KRT INVESTMENTS CORP. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
87,754.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
DKRT FAMILY CORP. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
81,860.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
DKRT INVESTMENTS CORP. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
327,761.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.1 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
1000920847 ONTARIO LIMITED | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
260,000.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.1 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
MB FINANCE CORP. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
1,596.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
TLT INVESTMENTS CORP. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
530,176.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.1 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
TLT ISSUE HOLDCO A CORP. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
195,900.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
TLT ISSUE HOLDCO B CORP. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
759,751.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.2 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
1761173 ONTARIO LIMITED | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
1,422,190.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.3 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
2677295 ONTARIO LIMITED | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
697,006.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.2 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
1000919995 ONTARIO LIMITED | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
260,000.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.1 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
1754693 ONTARIO LIMITED | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
437,878.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.1 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
PJT INVESTMENTS CORP. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
270,297.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.1 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
1000920848 ONTARIO LIMITED | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
260,000.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.1 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
PGF INVESTMENTS CORP. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
20,358.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
PGF FAMILY CORP. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
19,984.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
LCC INVESTMENTS CORP. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
2,287,650.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.5 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
1000078931 ONTARIO LIMITED | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
357,105.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.1 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
1000421133 ONTARIO LIMITED | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
67,423.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
LLD INVESTMENTS CORP. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
106,639.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
2806335 ONTARIO LIMITED | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
64,585.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
JRD INVESTMENTS CORP. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
528,845.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.1 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
2754783 ONTARIO LIMITED | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
6,988.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
GED INVESTMENTS CORP. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
624,184.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.1 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
SEG INVESTMENTS CORP. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
1,126,634.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.3 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
1000031857 ONTARIO LIMITED | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
444,575.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.1 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
SEG FAMILY CORP. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
66,546.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
TCM INVESTMENTS CORP. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
268,255.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.1 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
DYM INVESTMENTS CORP. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
279,129.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.1 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
BG INVESTMENTS CORP. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
571,530.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.1 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
ACG INVESTMENTS CORP. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
233,236.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.1 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
2775329 ONTARIO LIMITED | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
4,145.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| CUSIP No. | 884903709 |
| 1 |
Name of reporting person
2808194 ONTARIO LIMITED | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
| ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
287,060.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.1 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
In reference to row 13 above, based on 444,842,487 Common Shares outstanding as of October 31, 2025.
SCHEDULE 13D
|
| Item 1. | Security and Issuer | |
| (a) | Title of Class of Securities:
Common Shares of Thomson Reuters Corporation | |
| (b) | Name of Issuer:
THOMSON REUTERS CORP /CAN/ | |
| (c) | Address of Issuer's Principal Executive Offices:
19 Duncan Street, Toronto,
ONTARIO, CANADA
, M5H 3H1. | |
Item 1 Comment:
Explanatory Note: The common shares (the "Common Shares") of Thomson Reuters Corporation ("Thomson Reuters") that are the subject matter of this Amendment 23 to Schedule 13D are beneficially owned by Thomson Investments Limited, The Woodbridge Company Limited ("Woodbridge"), 1908720 Ontario Limited, 1000706525 Ontario Limited, 1396164 Ontario Limited, 1925124 Ontario Limited, Woodbridge Investments Corporation, KRT Investments Corp., DKRT Family Corp., DKRT Investments Corp., 1000920847 Ontario Limited, MB Finance Corp., TLT Investments Corp., TLT Issue Holdco A Corp., TLT Issue Holdco B Corp., 1761173 Ontario Limited, 2677295 Ontario Limited, 1000919995 Ontario Limited, 1754693 Ontario Limited, PJT Investments Corp., 1000920848 Ontario Limited, PGF Investments Corp., PGF Family Corp., LCC Investments Corp., 1000078931 Ontario Limited, 1000421133 Ontario Limited, LLD Investments Corp., 2806335 Ontario Limited, JRD Investments Corp., 2754783 Ontario Limited, GED Investments Corp., SEG Investments Corp., 1000031857 Ontario Limited, SEG Family Corp., TCM Investments Corp., DYM Investments Corp., BG Investments Corp., ACG Investments Corp., 2775329 Ontario Limited and 2808194 Ontario Limited (each a "Reporting Person" and collectively, the "Reporting Persons").
Woodbridge, a private company, is the primary investment vehicle for members of the family of the late Roy H. Thomson, the first Lord Thomson of Fleet. Prior to his death in 2006, Kenneth R. Thomson controlled Thomson Reuters through Woodbridge. He did so by holding shares of a holding company of Woodbridge, Thomson Investments Limited. Under his estate arrangements, the 2003 TIL Settlement, a trust of which The Bank of Nova Scotia Trust Company (the "Trust Company") is trustee and members of the family of the late first Lord Thomson of Fleet are beneficiaries, holds those holding company shares. Kenneth R. Thomson established these arrangements to provide for long-term stability of the business of Woodbridge. The equity of Woodbridge continues to be owned by members of successive generations of the family of the first Lord Thomson of Fleet. Under the Kenneth R. Thomson estate arrangements, the directors and officers of Woodbridge are responsible for its business and operations. In certain limited circumstances, including very substantial dispositions of Common Shares by Woodbridge, the estate arrangements provide for approval of the Trust Company, as trustee, to be obtained.
As of November 10, 2025, Thomson Investments Limited is the beneficial owner of 313,595,574 Common Shares, representing approximately 70.50% of the outstanding Common Shares. Of those Common Shares, Woodbridge is the beneficial owner of 300,638,534 Common Shares, representing approximately 67.58% of the outstanding Common Shares.
This Amendment No. 23 to Schedule 13D is being filed to report certain information under Item 2, Item 4, Item 5, Item 6, Item 7 and Schedule A (attached as Exhibit 3) hereto. This Schedule 13D amends, restates and updates the amendment to Schedule 13D filed by Woodbridge on April 16, 2024. There has been no material change in the Thomson family's beneficial ownership of Common Shares since then. | ||
| Item 2. | Identity and Background | |
| (a) | Thomson Investments Limited, Woodbridge, 1908720 Ontario Limited, 1000706525 Ontario Limited, 1396164 Ontario Limited, 1925124 Ontario Limited, Woodbridge Investments Corporation, KRT Investments Corp., DKRT Family Corp., DKRT Investments Corp., 1000920847 Ontario Limited, MB Finance Corp., TLT Investments Corp., TLT Issue Holdco A Corp., TLT Issue Holdco B Corp., 1761173 Ontario Limited, 2677295 Ontario Limited, 1000919995 Ontario Limited, 1754693 Ontario Limited, PJT Investments Corp., 1000920848 Ontario Limited, PGF Investments Corp., PGF Family Corp., LCC Investments Corp., 1000078931 Ontario Limited, 1000421133 Ontario Limited, LLD Investments Corp., 2806335 Ontario Limited, JRD Investments Corp., 2754783 Ontario Limited, GED Investments Corp., SEG Investments Corp, 1000031857 Ontario Limited, SEG Family Corp., TCM Investments Corp., DYM Investments Corp., BG Investments Corp., ACG Investments Corp., 2775329 Ontario Limited and 2808194 Ontario Limited. | |
| (b) | See Schedule A for the address of each Reporting Person. | |
| (c) | See Schedule A for certain information as to the executive officers and directors of each Reporting Person. | |
| (d) | To the knowledge of each Reporting Person, neither such Reporting Person, nor any executive officer or director of such Reporting Person, has been convicted during the last five years in any criminal proceeding (excluding traffic violations or similar misdemeanors). | |
| (e) | Further, to the knowledge of each Reporting Person, neither such Reporting Person, nor any executive officer or director of such Reporting Person, has been a party during the last five years to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violation of, or prohibiting or mandating activities subject to, U.S. federal or state securities laws, or finding any violation with respect to such laws. | |
| (f) | See Schedule A for certain information as to the executive officers and directors of each Reporting Person.
For further explanation of the background of the arrangements relating to ownership of Common Shares, see the "Explanatory Note" above. | |
| Item 3. | Source and Amount of Funds or Other Consideration | |
Not applicable. | ||
| Item 4. | Purpose of Transaction | |
See Item 5(c) for a discussion of certain transactions by the Reporting Persons in the Common Shares.
Thomson Investments Limited, Woodbridge and the other Reporting Persons plan to maintain their controlling interest in Thomson Reuters. From time to time, each of the Reporting Persons may acquire or dispose of Common Shares for liquidity and other reasons. Although there are currently no plans or proposals other than with respect to the acquisition or disposition of less than one half of one percent of the outstanding Common Shares for liquidity or other reasons as noted above, the Reporting Persons may consider or develop plans or proposals in the future that relate to items (a) through (j) below. This may include, but not be limited to, increasing or decreasing their investment in Common Shares and/or engagement with Thomson Reuters, other shareholders, advisors or third-parties with respect to Thomson Reuters' strategy, corporate governance including director nominees, capital structure and strategic alternatives.
Except as disclosed herein, none of the Reporting Persons nor, to the knowledge of the Reporting Persons, their respective directors and executive officers, has any plans or proposals that relate to or would result in:
(a) the acquisition by any person of additional securities of Thomson Reuters, or the disposition of securities of Thomson Reuters;
(b) an extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving Thomson Reuters;
(c) a sale or transfer of a material amount of assets of Thomson Reuters;
(d) any change in the present Board or management of Thomson Reuters, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the Board;
(e) any material change in the present capitalization or dividend policy of Thomson Reuters;
(f) any other material change in Thomson Reuters's business or corporate structure;
(g) changes in the charter, bylaws or instruments corresponding thereto of Thomson Reuters or other actions which may impede the acquisition of control of Thomson Reuters by any person;
(h) causing a class of securities of Thomson Reuters to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association;
(i) a class of equity securities of Thomson Reuters becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934; or
(j) any action similar to any of those enumerated above. | ||
| Item 5. | Interest in Securities of the Issuer | |
| (a) | See cover pages of this Amendment for each of the Reporting Persons and Schedule A for each of the directors and executive officers of the Reporting Persons. | |
| (b) | See cover pages of this Amendment for each of the Reporting Persons and Schedule A for each of the directors and executive officers of the Reporting Persons. | |
| (c) | None of the Reporting Persons has effected any transactions in Common Shares during the past 60 days, except as set forth below.
On September 10, 2025, 1396164 Ontario Limited acquired 45,357 Common Shares pursuant to the Thomson Reuters Amended and Restated Dividend Reinvestment Plan (the "DRIP").
On September 30, 2025, (i) SEG Investments Corp. acquired 1,126,634 Common Shares from 1000921264 Ontario Limited and 1000921265 Ontario Limited (such amount representing all Common Shares beneficially owned by 1000921264 Ontario Limited and 1000921265 Ontario Limited) in connection with the wind-up and dissolution of each of 1000921264 Ontario Limited and 1000921265 Ontario Limited, respectively; (ii) BG Investments Corp acquired 285,160 Common Shares from 1000921257 Ontario Limited (such amount representing all Common Shares beneficially owned by 1000921257 Ontario Limited) in connection with the wind-up and dissolution of 1000921257 Ontario Limited; (iii) ACG Investments Corp acquired 65,299 Common Shares from 1000921253 Ontario Limited (such amount representing all Common Shares beneficially owned by 1000921253 Ontario Limited) in connection with the wind-up and dissolution of1000921253 Ontario Limited; and (iv) 2808194 Ontario Limited acquired 287,060 Common Shares from 1000921254 Ontario Limited (such amount representing all Common Shares beneficially owned by 1000921254 Ontario Limited) in connection with the wind-up and dissolution of 1000921254 Ontario Limited. As a result of the foregoing transactions, 1000921264 Ontario Limited, 1000921265 Ontario Limited, 1000921257 Ontario Limited, 1000921253 Ontario Limited and 1000921254 Ontario Limited no longer beneficially hold any Common Shares and, therefore, each such person ceased to be a Reporting Person on September 30, 2025.
On September 30, 2025, (i) LCC Investments Corp acquired 2,119,523 Common Shares from 1000921307 Ontario Limited and 1000921309 Ontario Limited (such amount representing all Common Shares beneficially owned by 1000921307 Ontario Limited and 1000921309 Ontario Limited), in connection with the wind-up and dissolution of each of 1000921307 Ontario Limited and 1000921309 Ontario Limited, respectively; (ii) 1000421133 Ontario Limited acquired 67,423 Common Shares from 1000921299 Ontario Limited (such amount representing all Common Shares beneficially owned by 1000921299 Ontario Limited) in connection with the wind-up and dissolution of 1000921299 Ontario Limited; (iii) 2806335 Ontario Limited acquired 64,585 Common Shares from 1000921297 Ontario Limited (such amount representing all Common Shares beneficially owned by 1000921297 Ontario Limited) in connection with the wind-up and dissolution of 1000921297 Ontario Limited; (iv) JRD Investments Corp acquired 287,274 Common Shares from 1000921305 Ontario Limited (such amount representing all Common Shares beneficially owned by 1000921305 Ontario Limited) in connection with the wind-up and dissolution of 1000921305 Ontario Limited; and (v) GED Investments Corp acquired 298,675 Common Shares from 1000921303 Ontario Limited (such amount representing all Common Shares beneficially owned by 1000921303 Ontario Limited) in connection with the wind-up and dissolution of 1000921303 Ontario Limited. As a result of the foregoing transactions, 1000921307 Ontario Limited,1000921309 Ontario Limited, 1000921299 Ontario Limited, 1000921297 Ontario Limited, 1000921305 Ontario Limited and 1000921303 Ontario Limited no longer beneficially hold any Common Shares and, therefore, each such person ceased to be a Reporting Person on September 30, 2025.
On October 2, 2025, (i) TCM Investments Corp acquired 198,755 Common Shares from 1000921268 Ontario Limited (such amount representing all Common Shares beneficially owned by 1000921268 Ontario Limited) in connection with the wind-up and dissolution of 1000921268 Ontario Limited; and (ii) DYM Investments Corp acquired 178,101 Common Shares from 1000921259 Ontario Limited (such amount representing all Common Shares beneficially owned by 1000921259 Ontario Limited) in connection with the wind-up and dissolution of 1000921259 Ontario Limited. As a result of the foregoing transactions, 1000921268 Ontario Limited and 1000921259 Ontario Limited no longer beneficially hold any Common Shares and, therefore, each such person ceased to be a Reporting Person on October 2, 2025.
On November 6, 2025, 1000706525 Ontario Limited, acquired an aggregate of 62,000,000 Common Shares in connection with the wind-up and dissolution of each of the following subsidiaries of 1000706525 Ontario Limited: 1000927194 Ontario Limited, 1000927196 Ontario Limited, 1000927197 Ontario Limited, 1000927200 Ontario Limited, 1000927201 Ontario Limited, 1000927202 Ontario Limited, 1000927205 Ontario Limited, 1000927207 Ontario Limited, 1000927210 Ontario Limited and 1000927211 Ontario Limited (each a "Woodbridge Subsidiary" and collectively, the "Woodbridge Subsidiaries"). As such, as of November 6, 2025, all 62,000,000 Common Shares formerly beneficially owned in the aggregate by the Woodbridge Subsidiaries are now owned by 1000706525 Ontario Limited. No Woodbridge Subsidiary transferred one (1)% or more of the outstanding Common Shares to 1000706525 Ontario Limited pursuant to its wind-up. In addition, because the Woodbridge Subsidiaries no longer beneficially own any Common Shares, each Woodbridge Subsidiary ceased to be a Reporting Person.
As such, this Amendment No. 23 constitutes an exit filing for each Woodbridge Subsidiary and each other entity identified as ceasing or having ceased to be a Reporting Person in this Item 5(c).
None of the executive officers or directors of the Reporting Persons has effected any transactions in Common Shares during the past 60 days, except as set forth below.
On September 15, 2025, Peter J. Thomson, Director and Co Chairman of Woodbridge, acquired 77 Common Shares as compensation for serving as director of Thomson Reuters.
On September 25, 2025, The Nikita Foundation, a charity founded by Peter Thomson and his wife, both of whom sit on the board of directors, sold 25,000 Common Shares. | |
| (d) | Not applicable. | |
| (e) | Not applicable. | |
| Item 6. | Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer | |
Item 6 is hereby amended to add the following:
A Reporting Person has pledged 96,019 Common Shares to Royal Bank of Canada to secure certain obligations under two demand credit facilities. As such, the current aggregate amount of Common Shares pledged by various Reporting Persons to Royal Bank of Canada to secure obligations under nine demand credit facilities is 2,935,697 Common Shares.
As of November 10, 2025, David K.R. Thomson, Peter J. Thomson and Michael Friisdahl hold 131,817, 17,127 and 461 deferred share units ("DSUs"), respectively, issued to them by Thomson Reuters for compensation for service as a director of Thomson Reuters. Each DSU has the same value as one Common Share, though DSUs do not have voting rights. DSUs accumulate additional units based on notional equivalents of dividends paid on Common Shares. DSUs are fully vested upon grant, but they are only settled in Common Shares or, at the election of Thomson Reuters, in cash, following termination of the director's board service in respect of Thomson Reuters. Any Common Shares delivered to a director of Thomson Reuters in connection with the settlement of DSUs are purchased in the open market. | ||
| Item 7. | Material to be Filed as Exhibits. | |
Exhibit 1 - Joint Filing Agreement.
Exhibit 2 - Power of Attorney.
Exhibit 3 - Schedule A. | ||
| 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.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FAQ
What stake in TRI does Woodbridge report in this 13D/A?
They report 313,595,574 Common Shares, or 70.5% of the class, based on 444,842,487 shares outstanding as of October 31, 2025.
What major share movement is disclosed in the TRI 13D/A (TRI)?
On November 6, 2025, 1000706525 Ontario Limited consolidated 62,000,000 shares from ten Woodbridge subsidiaries via wind-ups.
Did control of Thomson Reuters (TRI) change in this filing?
No. The reporting persons state they plan to maintain their controlling interest in Thomson Reuters.
How many TRI shares are pledged under credit facilities?
An additional 96,019 shares were pledged; in total, 2,935,697 shares are pledged to Royal Bank of Canada under nine demand credit facilities.
Were there other notable transactions by Woodbridge affiliates?
Yes. 45,357 shares were acquired via the DRIP by 1396164 Ontario Limited, and a charity sold 25,000 shares.
What DSUs are held by Thomson Reuters directors mentioned here?
David K.R. Thomson 131,817, Peter J. Thomson 17,127, and Michael Friisdahl 461 DSUs; DSUs are non‑voting.
Thomson Reuters Corp
NASDAQ:TRI
TRI Rankings
TRI Latest News
TRI Latest SEC Filings
Nov 5, 2025
[144] THOMSON REUTERS CORP /CAN/ SEC Filing