Royal Bank of Canada reports 7.35% stake in Wisconsin Electric Power (WELPM)

Rhea-AI Filing Summary

Royal Bank of Canada reports beneficial ownership in Wisconsin Electric Power Company preferred stock. The filing amends a Schedule 13G to show ownership of 19,103 shares of 3.6% Serial Preferred Stock (CUSIP 976656306), representing 7.35% of that class. The filing is signed by a Managing Director on 05/14/2026.

Key Figures

Beneficial ownership: 19,103 shares Percent of class: 7.35% CUSIP: 976656306 +2 more

5 metrics

Beneficial ownership 19,103 shares Amount beneficially owned of 3.6% Serial Preferred Stock

Percent of class 7.35% Percent of 3.6% Serial Preferred Stock class

CUSIP 976656306 Identifier for the 3.6% Serial Preferred Stock

Shared voting/dispositive power 19,103 shares Shared voting and shared dispositive power reported in Item 4

Signature date 05/14/2026 Date signature by Managing Director was provided on the amendment

Key Terms

Schedule 13G/A, Beneficially owned, Shared dispositive power, CUSIP

4 terms

Schedule 13G/A regulatory

"amended Schedule 13G to show ownership of 19,103 shares"

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

"Amount beneficially owned: 19,103"

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.

Shared dispositive power regulatory

"Shared power to dispose or to direct the disposition of: 19,103"

CUSIP other

"3.6% Serial Preferred Stock CUSIP No.: 976656306"

A CUSIP is a nine-character alphanumeric code that uniquely identifies a U.S. or Canadian financial security—such as a stock, bond, or fund share—like a Social Security number for an investment. It matters to investors because brokers, exchanges and record-keepers use the CUSIP to match trades, track ownership, settle transactions and pull accurate records, reducing errors and ensuring money and securities go to the right place.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Wisconsin Electric Power Company

(Name of Issuer)

3.6% Serial Preferred Stock

(Title of Class of Securities)

976656306

(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): 976656306

1

Names of Reporting Persons

Royal Bank of Canada

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

CANADA (FEDERAL LEVEL)

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 19,103.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 19,103.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

19,103.00

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)

7.35 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Wisconsin Electric Power Company
(b)	Address of issuer's principal executive offices: 231 West Michigan Street, Milwaukee, WI, 53201
Item 2.
(a)	Name of person filing: Royal Bank of Canada
(b)	Address or principal business office or, if none, residence: 200 Bay Street, Toronto, Ontario, M5J QJ5, Canada
(c)	Citizenship: Canada
(d)	Title of class of securities: 3.6% Serial Preferred Stock
(e)	CUSIP No.: 976656306
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: 19,103
(b)	Percent of class: 7.35%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 19,103
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 19,103
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.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. RBC Capital Markets, LLC: A broker -dealer registered under section 15 of the Act (15 U.S.C 78o) and an investment adviser in accordance with ss. 240.13d-1(b)(1)(ii)(E).
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.

Royal Bank of Canada

Signature:	/s/ Terry Fallon
Name/Title:	Managing Director
Date:	05/14/2026

Exhibit Information

99.1 Power of Attorney https://www.sec.gov/Archives/edgar/data/1000275/000121465925015105/ex99_1.htm

FAQ

What stake does Royal Bank of Canada report in WELPM preferred stock?

Royal Bank of Canada reports beneficial ownership of 19,103 shares of 3.6% Serial Preferred Stock, representing 7.35% of that class. The position is reported on an amended Schedule 13G/A and lists shared voting and dispositive power over those shares.

What class of Wisconsin Electric Power securities is reported in the 13G/A?

The filing covers the 3.6% Serial Preferred Stock of Wisconsin Electric Power Company (CUSIP 976656306). The report specifies voting and dispositive powers related to that preferred stock position held by RBC entities.

Who filed the Schedule 13G/A and who signed it for WELPM?

The Schedule 13G/A was filed by Royal Bank of Canada (address: 200 Bay Street, Toronto). The signature on the amendment is by Terry Fallon, Managing Director, dated 05/14/2026 and lists RBC Capital Markets, LLC in Item 7.

What voting and disposition powers are reported for the 19,103 shares?

The filing shows 0 shares with sole voting or dispositive power and 19,103 shares with shared voting and shared dispositive power. That allocation is reported under Item 4 of the Schedule 13G/A.

Does the filing identify the subsidiary or broker-dealer involved?

Yes. Item 7 identifies RBC Capital Markets, LLC as a broker-dealer registered under Section 15 and as an investment adviser per the item, linking the parent filing to a listed subsidiary.