Westport Fuel Systems Inc. reporting persons CVI Investments, Inc. and Heights Capital Management, Inc. disclose beneficial ownership of 1,930,712 shares of Common Shares, representing 9.9% of the class as reported on the cover page (cover date 06/22/2026). The filing states the reported share total includes shares and warrants subject to an exercise limitation tied to a 9.99% cap. The filing cites a Prospectus Supplement indicating 18,995,734 Shares outstanding as of the completion of the referenced offering.
Positive
None.
Negative
None.
Insights
Large passive stake disclosed by an institutional manager and its affiliate.
The filing shows CVI Investments, Inc. and its investment manager, Heights Capital Management, Inc., together report 1,930,712 shares or 9.9% of outstanding Common Shares as of the cover date. The disclosure attributes shared voting and dispositive power to the manager under a Limited Power of Attorney.
Warrants are included in the reported position but are not exercisable past the 9.99% cap; timing and cash‑flow treatment for any future exercises or dispositions are not specified in the excerpt. Subsequent filings would show if this position changes.
Key Figures
Beneficial ownership:1,930,712 sharesPercent of class:9.9%Outstanding shares:18,995,734 Shares
3 metrics
Beneficial ownership1,930,712 sharesAmount reported by CVI Investments/Heights on cover page
Percent of class9.9%Percent of Common Shares reported on cover page
Outstanding shares18,995,734 SharesProspectus Supplement cited as of completion of the offering
Key Terms
Warrants, Limited Power of Attorney, Section 13(d)
3 terms
Warrantsfinancial
"The number of Shares reported as beneficially owned consists of (i) Shares and (ii) Shares issuable upon the exercise of warrants"
Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.
Limited Power of Attorneyregulatory
"Heights Capital Management, Inc. serves as authorized agent of CVI Investments, Inc. pursuant to a Limited Power of Attorney"
Section 13(d)regulatory
"would be aggregated with such Reporting Person for purposes of Section 13(d) of the Exchange Act"
What stake do CVI Investments and Heights Capital hold in Westport Fuel (WPRT)?
They report beneficial ownership of 1,930,712 shares, representing 9.9% of the class. The filing attributes shared voting and dispositive power to Heights Capital as investment manager under a Limited Power of Attorney.
Does the filing include warrants in the reported ownership for WPRT?
Yes. The reported amount consists of Shares and warrants, but the Warrants are subject to an exercise limitation that prevents exercises which would raise ownership above 9.99% of the class.
How many Westport Fuel shares were outstanding according to the filing?
The Prospectus Supplement cited in the filing indicates 18,995,734 Shares outstanding as of the completion of the referenced offering. That outstanding count is provided as context for the reported 9.9% position.
Who signed the Schedule 13G filing for the reported WPRT position?
The filing is signed by Sarah Travis, Assistant General Counsel and Assistant Secretary of Heights Capital Management, Inc., dated 06/29/2026, noting Heights Capital serves as authorized agent of CVI Investments under a Limited Power of Attorney.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Westport Fuel Systems Inc.
(Name of Issuer)
Common Shares, no par value
(Title of Class of Securities)
960908507
(CUSIP Number)
06/22/2026
(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):
960908507
1
Names of Reporting Persons
CVI Investments, 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
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,930,712.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,930,712.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,930,712.00
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)
9.9 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: With respect to Row 6 and Row 8 above, Heights Capital Management, Inc. is the investment manager to CVI Investments, Inc. and as such may exercise voting and dispositive power over the shares reported as beneficially owned by CVI Investments, Inc. herein.
SCHEDULE 13G
CUSIP Number(s):
960908507
1
Names of Reporting Persons
Heights Capital 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
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,930,712.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,930,712.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,930,712.00
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)
9.9 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: With respect to Row 6 and Row 8 above, Heights Capital Management, Inc. is the investment manager to CVI Investments, Inc. and as such may exercise voting and dispositive power over the shares reported as beneficially owned by CVI Investments, Inc. herein.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Westport Fuel Systems Inc.
(b)
Address of issuer's principal executive offices:
1691 West 75th Avenue, Vancouver, British Columbia, Canada, V6P 6P2
Item 2.
(a)
Name of person filing:
This statement is filed by the entities listed below, who are collectively referred to herein as "Reporting Persons," with respect to the common shares of Westport Fuel Systems Inc. (the "Company"), no par value (the "Shares").
(i) CVI Investments, Inc.
(ii) Heights Capital Management, Inc.
(b)
Address or principal business office or, if none, residence:
The address of the principal business office of CVI Investments, Inc. is:
P.O. Box 309GT
Ugland House
South Church Street
George Town
Grand Cayman
KY1-1104
Cayman Islands
The address of the principal business office of Heights Capital Management, Inc. is:
101 California Street, Suite 3250
San Francisco, California 94111
(c)
Citizenship:
Citizenship is set forth in Row 4 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
(d)
Title of class of securities:
Common Shares, no par value
(e)
CUSIP Number(s):
960908507
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:
The information required by this Item 4(a) is set forth in Row 9 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
The number of Shares reported as beneficially owned consists of (i) Shares and (ii) Shares issuable upon the exercise of warrants to purchase Shares (the "Warrants"). The Warrants are not exercisable to the extent that the total number of Shares then beneficially owned by a Reporting Person and its affiliates and any other persons whose beneficial ownership of Shares would be aggregated with such Reporting Person for purposes of Section 13(d) of the Exchange Act would exceed 9.99%.
The Company's Prospectus Supplement (to Prospectus dated August 22, 2025, Registration No. 333-289669), filed on June 23, 2026, indicates there were 18,995,734 Shares outstanding (excluding Shares underlying warrants issued at the same time) as of the completion of the offering of the Shares referred to therein.
(b)
Percent of class:
9.9 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
The information required by this Item 4(c)(i) is set forth in Row 5 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
(ii) Shared power to vote or to direct the vote:
The information required by this Item 4(c)(ii) is set forth in Row 6 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
Heights Capital Management, Inc., which serves as the investment manager to CVI Investments, Inc., may be deemed to be the beneficial owner of all Shares owned by CVI Investments, Inc. Each of the Reporting Persons hereby disclaims any beneficial ownership of any such Shares, except for their pecuniary interest therein.
(iii) Sole power to dispose or to direct the disposition of:
The information required by this Item 4(c)(iii) is set forth in Row 7 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
(iv) Shared power to dispose or to direct the disposition of:
The information required by this Item 4(c)(iv) is set forth in Row 8 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
Heights Capital Management, Inc., which serves as the investment manager to CVI Investments, Inc., may be deemed to be the beneficial owner of all Shares owned by CVI Investments, Inc. Each of the Reporting Persons hereby disclaims any beneficial ownership of any such Shares, except for their pecuniary interest therein.
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 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.
CVI Investments, Inc.
Signature:
/s/ Sarah Travis
Name/Title:
Sarah Travis, Assistant General Counsel and Assistant Secretary of Heights Capital Management, Inc.
Date:
06/29/2026
Heights Capital Management, Inc.
Signature:
/s/ Sarah Travis
Name/Title:
Sarah Travis, Assistant General Counsel and Assistant Secretary
Date:
06/29/2026
Comments accompanying signature: Heights Capital Management, Inc. serves as authorized agent of CVI Investments, Inc. pursuant to a Limited Power of Attorney, a copy of which is attached as Exhibit 24 hereto.
Exhibit Information
EXHIBIT INDEX
EXHIBIT DESCRIPTION
________ ________
24 Limited Power of Attorney
99 Joint Filing Agreement
