Canada Pension Plan Investment Board Reports 6.1% Stake in SM Energy Co

Canada Pension Plan Investment Board (CPPIB) filed a Schedule 13G on May 15, 2026, reporting a significant new ownership stake in SM Energy Co. As of the event date on March 31, 2026, CPPIB and its wholly owned subsidiary, CPPIB Crestone Peak Resources Canada Inc., beneficially own 14,493,791 shares of Common Stock. This position represents approximately 6.1% of the company's 238,359,166 outstanding shares. The filing indicates that the securities are directly held by the subsidiary, with both reporting persons sharing voting and dispositive power. The acquisition was made in the ordinary course of business and not for the purpose of influencing or changing control of the issuer. Both entities are organized under the laws of Canada and operate as pension investment managers. This filing marks a transition from a previously reported 0% ownership to a 6.1% stake, signaling a substantial new institutional investment in SM Energy Co.