SCHEDULE 13G/A: FMR LLC and Abigail P. Johnson Disclose 10.9% Beneficial Ownership in GFL Environmental Inc.

FMR LLC and its Chairman and CEO, Abigail P. Johnson, have filed an amended Schedule 13G, reporting a combined beneficial ownership of 10.9% of GFL Environmental Inc.'s Subordinate Voting Shares as of April 30, 2025.

Summary

• FMR LLC and Abigail P. Johnson, as reporting persons, have filed an Amendment No. 4 to Schedule 13G regarding their beneficial ownership in GFL Environmental Inc.
• The filing indicates that as of April 30, 2025, FMR LLC and Abigail P. Johnson beneficially own an aggregate of 38,704,835.97 Subordinate Voting Shares of GFL Environmental Inc.
• This aggregate amount represents 10.9% of the class of Subordinate Voting Shares.
• FMR LLC holds sole voting power over 34,804,783.19 shares and sole dispositive power over 38,704,835.97 shares.
• Abigail P. Johnson, who is a Director, Chairman, and CEO of FMR LLC, is deemed to beneficially own the same 38,704,835.97 shares, with sole dispositive power over this amount.
• The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of GFL Environmental Inc.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership and does not convey positive or negative sentiment regarding the issuer's performance or outlook. It is a neutral regulatory filing.

Future Outlook

This Schedule 13G filing is a disclosure of current beneficial ownership and does not contain forward-looking statements or guidance regarding GFL Environmental Inc.'s future performance or FMR LLC's investment strategy beyond the stated purpose of holding shares in the ordinary course of business.

Industry Context

This filing is a routine disclosure of significant beneficial ownership by a major investment management firm (FMR LLC, parent of Fidelity Investments) in a publicly traded company within the environmental services industry. Such filings provide transparency into institutional holdings but do not typically reflect specific industry trends or competitive dynamics.

Related Party Transactions

• Abigail P. Johnson, a reporting person, is a Director, Chairman, and Chief Executive Officer of FMR LLC, the other reporting person. Members of the Johnson family, including Abigail P. Johnson, are predominant owners of Series B voting common shares of FMR LLC, representing 49% of its voting power, and may be deemed to form a controlling group with respect to FMR LLC.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional holder's stake, which can influence market perception of the stock's stability and institutional interest.

Key Dates

Keywords

GFL Environmental Inc., FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Subordinate Voting Shares, SEC Filing, Institutional Ownership, Investment Management