OMERS Admin holds 48.47% of Xanadu (NASDAQ: XNDU) stake disclosed

Rhea-AI Filing Summary

OMERS Administration Corporation reports beneficial ownership of 40,246,515 shares (48.47%) of Xanadu Quantum Technologies Ltd. The position consists of 39,746,515 Class A Multiple Voting Shares and 500,000 Class B Subordinate Voting Shares; each MVS is convertible into an SVS on a share-for-share basis. OMERS discloses sole voting and sole dispositive power over 40,246,515 shares. The filing identifies the security CUSIP as 98390R102 and is signed by a company officer on 04/08/2026.

Insights

Institutional Ownership Analyst

OMERS holds a near‑majority stake, giving it substantial voting control over Xanadu.

OMERS reports beneficial ownership of 40,246,515 shares, representing 48.47% of the class, with sole voting and dispositive power. The position mixes Class A MVS (39,746,515) and Class B SVS (500,000); the MVS convert on a share‑for‑share basis, which preserves voting equivalence if conversions occur.

Key dependencies include any future conversions or additional share issuances that would alter percentage ownership; subsequent filings would show changes in voting power or disposition.

Corporate Governance Specialist

Disclosure signals a controlling institutional stake that could influence governance outcomes.

The filing shows OMERS has sole voting power over the reported shares, a fact relevant to board elections and shareholder proposals. The exact practical effect depends on the company's full capital structure and any voting agreements, which are not detailed here.

Watch for amendments or Form 4/Form 13D filings that would disclose active changes in ownership, board nominations, or voting arrangements.

Key Figures

Beneficial ownership: 40,246,515 shares Percent of class: 48.47% Class A Multiple Voting Shares: 39,746,515 shares +3 more

6 metrics

Beneficial ownership 40,246,515 shares total beneficially owned as reported

Percent of class 48.47% percent of class reported in Schedule 13G

Class A Multiple Voting Shares 39,746,515 shares part of OMERS position

Class B Subordinate Voting Shares 500,000 shares part of OMERS position

CUSIP 98390R102 security identifier shown in filing

Sole voting/dispositive power 40,246,515 shares shares over which OMERS reports sole power

Key Terms

Schedule 13G, Class A Multiple Voting Shares (MVS), Class B Subordinate Voting Shares (SVS), Beneficially owned

4 terms

Schedule 13G regulatory

"Item 2. | (a) | Name of person filing: OMERS Administration Corporation"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

Class A Multiple Voting Shares (MVS) market

"Ownership (a) | Amount beneficially owned: 40,246,515 shares, consisting of 39,746,515 Class A Multiple Voting Shares"

Class B Subordinate Voting Shares (SVS) market

"Ownership (a) | ... and 500,000 Class B Subordinate Voting Shares"

Beneficially owned regulatory

"Item 4. | Ownership (a) | Amount beneficially owned: 40,246,515 shares"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Xanadu Quantum Technologies Ltd

(Name of Issuer)

Class B Subordinate Voting Shares

(Title of Class of Securities)

98390R102

(CUSIP Number)

03/26/2026

(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): 98390R102

1

Names of Reporting Persons

OMERS ADMINISTRATION Corp

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

ONTARIO, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 40,246,515.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 40,246,515.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

40,246,515.00

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)

48.5 %

12

Type of Reporting Person (See Instructions)

EP

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Xanadu Quantum Technologies Ltd
(b)	Address of issuer's principal executive offices: 777 BAY STREET, SUITE 2400, TORONTO, ONTARIO, CANADA, M5G 2C8.
Item 2.
(a)	Name of person filing: OMERS Administration Corporation
(b)	Address or principal business office or, if none, residence: 900-100 Adelaide St W Toronto, Ontario M5H 0E2
(c)	Citizenship: Canada
(d)	Title of class of securities: Class B Subordinate Voting Shares
(e)	CUSIP Number(s): 98390R102
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: 40,246,515 shares, consisting of 39,746,515 Class A Multiple Voting Shares ("MVS") and 500,000 Class B Subordinate Voting Shares ("SVS"). Each MVS is convertible into SVS on a share-for-share basis.
(b)	Percent of class: 48.47%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 40,246,515
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 40,246,515
	(iv) Shared power to dispose or to direct the disposition of: 0
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:
	Not Applicable

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.

OMERS ADMINISTRATION Corp

Signature:	/s/ Josh Bezonsky
Name/Title:	Vice President, Legal and Compliance
Date:	04/08/2026

FAQ

What stake does OMERS hold in Xanadu (XNDU)?

OMERS beneficially owns 40,246,515 shares, or 48.47% of the class. This position combines 39,746,515 Class A Multiple Voting Shares and 500,000 Class B Subordinate Voting Shares, with sole voting and dispositive power reported.

How is OMERS' 40,246,515‑share position composed?

The holdings include 39,746,515 Class A Multiple Voting Shares and 500,000 Class B Subordinate Voting Shares. The filing states each MVS converts to an SVS on a share‑for‑share basis.

Does OMERS have voting control over its Xanadu shares?

Yes — OMERS reports sole voting power for 40,246,515 shares. The filing also reports sole dispositive power for the same number, indicating control over vote direction and disposition.

What CUSIP and filing type are associated with this disclosure?

The security CUSIP is 98390R102 and the filing is a Schedule 13G. The signature block is dated 04/08/2026 and lists OMERS Administration Corporation as the reporting person.

Are the Class A shares convertible into Class B shares?

Yes — each Class A Multiple Voting Share is convertible into one Class B Subordinate Voting Share on a share‑for‑share basis. That conversion mechanism is stated verbatim in the filing's ownership disclosure.