FIL Limited, together with Pandanus Partners, L.P. and Pandanus Associates, Inc., filed Amendment No. 5 to a Schedule 13G with the SEC on November 4, 2026, disclosing beneficial ownership of 13,352,033 Subordinate Voting Shares of Lightspeed Commerce Inc. as of September 30, 2026.

Key Highlights

  • Aggregate beneficial ownership: FIL Limited and the related reporting persons each reported beneficial ownership of 13,352,033 Subordinate Voting Shares, representing 10.0% of the class.
  • Sole dispositive power: All three reporting persons - FIL Limited, Pandanus Partners, L.P., and Pandanus Associates, Inc. - each reported sole dispositive power over all 13,352,033 shares.
  • Sole voting power: FIL Limited reported sole voting power over 13,352,033 shares; Pandanus Partners, L.P. and Pandanus Associates, Inc. each reported zero sole voting power.
  • Notable sub-holding: Fidelity Canadian Opportunities Fund held 8,000,000 shares, equal to 6.0% of total outstanding Subordinate Voting Shares, as of September 30, 2026, according to the filing.
  • Event date: The filing event triggering this amendment was September 30, 2026.
  • Ordinary course certification: The filing states the securities "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."

FIL Limited's Amendment No. 5 Filing on Lightspeed Commerce Subordinate Voting Shares

FIL Limited, a Bermuda-based financial institution, filed Amendment No. 5 to Schedule 13G disclosing a 10.0% beneficial ownership position in Lightspeed Commerce Inc. (NYSE:LSPD) as of September 30, 2026. The filing names two additional reporting persons: Pandanus Partners, L.P., organized in Delaware and classified as a limited partnership, and Pandanus Associates, Inc., also organized in Delaware and classified as a corporation. All three reporting persons report the same aggregate beneficial ownership figure of 13,352,033 Subordinate Voting Shares.

According to the filing, FIL Limited holds sole voting power and sole dispositive power over all 13,352,033 shares. Pandanus Partners, L.P. and Pandanus Associates, Inc. each report zero sole voting power but report sole dispositive power over the same 13,352,033 shares. No shared voting or shared dispositive power is reported by any of the three reporting persons. The filing identifies Fidelity Canadian Opportunities Fund as a person known to have the right to receive or direct the receipt of dividends from, or proceeds from the sale of, the Subordinate Voting Shares, with an interest of 8,000,000 shares representing 6.0% of the total outstanding Subordinate Voting Shares at September 30, 2026.

The statement was signed by Stephanie J. Brown on November 4, 2026, acting under a Power of Attorney effective as of December 19, 2022, on behalf of all three reporting persons. The filing references Exhibit 99 for the 13d-1(k)(1) agreement and identifies subsidiary information, with the power of attorney incorporated by reference to Exhibit 24 of the Schedule 13G filed by FIL Limited on January 31, 2023, accession number 0000318989-23-000005.

What Was Disclosed

FIL Limited, Pandanus Partners, L.P., and Pandanus Associates, Inc. jointly filed Amendment No. 5 to Schedule 13G, reporting aggregate beneficial ownership of 13,352,033 Subordinate Voting Shares of Lightspeed Commerce Inc., equal to 10.0% of the class, as of September 30, 2026.