SCHEDULE: FMR LLC Boosts South Bow Corp Stake to 6.4%

FMR LLC and Abigail P. Johnson have reported a 6.4% beneficial ownership stake in South Bow Corp's common stock as of June 30, 2025.

Summary

• FMR LLC and Abigail P. Johnson collectively beneficially own 13,342,910.62 shares of South Bow Corp's common stock.
• This ownership represents 6.4% of the total outstanding common stock of South Bow Corp.
• FMR LLC holds sole voting power over 13,130,845.00 shares and sole dispositive power over 13,342,910.62 shares.
• Abigail P. Johnson holds sole dispositive power over 13,342,910.62 shares.
• The filing is a Schedule 13G, indicating that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of South Bow Corp.
• FMR LLC is identified as a parent holding company, with several subsidiaries listed as entities that beneficially own shares, including FIAM LLC, Fidelity Institutional Asset Management Trust Company, Fidelity Management & Research Company LLC, Fidelity Management Trust Company, FMR Investment Management (UK) Limited, and Strategic Advisers LLC.

Sentiment

Score: 6

Explanation: The filing is a routine beneficial ownership report, indicating a significant institutional stake by FMR LLC, which is generally viewed as a neutral to slightly positive signal of investor confidence.

Positives

• A significant institutional investor, FMR LLC, holds a substantial stake in South Bow Corp, which can be interpreted as a vote of confidence or continued interest in the company.

Negatives

• No specific negative information regarding South Bow Corp's operations or financial health is disclosed in this beneficial ownership report.

Risks

• This beneficial ownership report does not detail specific operational or financial risks pertaining to South Bow Corp.
• The reporting persons certify that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Future Outlook

The filing does not contain forward-looking statements or guidance regarding South Bow Corp's future performance or operations, as it is a beneficial ownership report.

Management Comments

• The filing does not include direct management comments from South Bow Corp. The signatories are from FMR LLC, certifying the nature of their beneficial ownership.

Industry Context

This filing indicates continued institutional interest in South Bow Corp, a common occurrence for publicly traded companies. The investment by FMR LLC, a major asset manager, suggests the company remains on the radar of large investment firms.

Comparison to Industry Standards

• This filing is a routine beneficial ownership disclosure and does not provide information that allows for a direct assessment of South Bow Corp's performance or results against global industry benchmarks or specific comparable companies.

Stakeholder Impact

• Shareholders: Provides transparency regarding significant institutional ownership.
• Investment Professionals: Offers updated data on institutional holdings for market analysis.

Next Steps

• The filing does not outline specific future actions or milestones for South Bow Corp or the reporting persons beyond ongoing compliance with SEC regulations.

Key Dates

Keywords

South Bow Corp, FMR LLC, Abigail P. Johnson, Schedule 13G, beneficial ownership, common stock, institutional investment, SEC filing