As of November 6, 2026, 4 holders' latest Schedule 13D or 13G filings report owning 5% or more of Algoma Steel Group Inc. The largest reported stake is Maple Rock Capital Partners Inc.'s, at 15.1%. 17 filings are on record since August 13, 2025 (Schedule 13G/A, May 15, 2026).
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Key facts
- · Reporting person: MMCAP International Inc. SPC · Sole voting: 0 · Shared voting: 10,954,738 · Sole dispositive: 0 · Shared dispositive: 10,954,738 · SCHEDULE 13G/A, 2026-08-14
- · Reporting person: Donald Smith & Co., Inc. · Sole voting: 5,122,640 · Shared voting: 0 · Sole dispositive: 5,223,940 · Shared dispositive: 0 · SCHEDULE 13G, 2026-08-11
- · Holder: Maple Rock Capital Partners Inc. · Percent: 15.1% · SCHEDULE 13G/A
- · Holder: MMCAP International Inc. SPC · Percent: 12.2% · SCHEDULE 13G/A
- · Holder: Donald Smith & Co., Inc. · Percent: 5.8% · SCHEDULE 13G
Algoma Steel Group Inc. has 17 Schedule 13D or 13G filings on record since 2025-08-13. 4 holders' latest filing reports 5% or more of common shares, no par value. Each figure below is the holder's own, as filed, with the filing linked.
Holders
| Holder | Percent | Shares | Latest | Event date |
|---|---|---|---|---|
| Maple Rock Capital Partners Inc. | 15.1% | 15,930,818 | SCHEDULE 13G/A, 2026-05-15 | 2026-03-31 |
| MMCAP International Inc. SPC | 10.4% | 10,954,738 | SCHEDULE 13G/A, 2026-08-14 | 2026-06-30 |
| CDC Financial, Inc. | 5.4% | 5,848,780 | SCHEDULE 13G/A, 2025-08-14 | 2025-06-30 |
| Donald Smith & Co., Inc. | 5% | 5,277,631 | SCHEDULE 13G, 2026-08-11 | 2026-06-30 |
| Zekelman Industries, Inc. | 3.08% | 3,229,998 | SCHEDULE 13D/A, 2025-09-23 | 2025-09-10 |
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Keep reading
More on Algoma Steel Group Inc. and the records around it.
Algoma Steel Group Inc. elsewhere on the record
Companies that share a holder
- Stoney Lonesome HF LP also filed stake reports on 4 other companies: Health Catalyst, Inc. (Aug 2026), Advanced Flower Capital Inc. (Jul 2026), Amplify Energy Corp. (Mar 2026)
- DONALD SMITH & CO., INC. also filed stake reports on 23 other companies: Allegiant Travel CO (Aug 2026), BEAZER HOMES USA INC (Aug 2026), Chatham Lodging Trust (Aug 2026)
- MMCAP International Inc. SPC also filed stake reports on 52 other companies: BHAV Acquisition Corp II (Nov 2026), Haymaker Acquisition Corp V (Sep 2026), Thunder Bridge Capital Partners V, Ltd. (Aug 2026)
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What the Full Report on Algoma Steel Group Inc. covers
The Short Answer
Which Company This Is
What They Do, And How The Money Works
Who Runs It, And How To Reach Them
The Money: Funding, Valuation, Runway
Who Pays Them, And Who They Are Up Against
Warning Bells
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Voting and dispositive power, as filed
| Reporting person | Sole voting | Shared voting | Sole dispositive | Shared dispositive | Filing |
|---|---|---|---|---|---|
| MMCAP International Inc. SPC | 0 | 10,954,738 | 0 | 10,954,738 | SCHEDULE 13G/A, 2026-08-14 |
| MM Asset Management Inc. | 0 | 10,954,738 | 0 | 10,954,738 | SCHEDULE 13G/A, 2026-08-14 |
| Donald Smith & Co., Inc. | 5,122,640 | 0 | 5,223,940 | 0 | SCHEDULE 13G, 2026-08-11 |
| DSCO Value Fund, L.P. | 53,691 | 0 | 53,691 | 0 | SCHEDULE 13G, 2026-08-11 |
The latest filing identifies Algoma Steel Group Inc. by CUSIP 015658107 and gives its principal executive office as 105 West Street, Sault Ste. Marie (SCHEDULE 13G/A, 2026-08-14).
What the percentages are based on
See Item 11 on the cover page for each Reporting Person. The percentages of beneficial ownership contained herein are based on 105,661,468 Common Shares outstanding as of June 30, 2026, as reported in the Issuer's Form 6-K filed with the SEC on July 30, 2026.MMCAP International Inc. SPC, SCHEDULE 13G/A, 2026-08-14
Timeline
| Filed | Holder | Percent | Filing |
|---|---|---|---|
| 2025-08-13 | Donald Smith & Co., Inc. | 5.8% | SCHEDULE 13G |
| 2025-08-14 | Maple Rock Capital Partners Inc. | 9.9% | SCHEDULE 13D/A |
| 2025-08-14 | CDC Financial, Inc. | 5.4% | SCHEDULE 13G/A |
| 2025-08-14 | MMCAP International Inc. SPC | 6.9% | SCHEDULE 13G/A |
| 2025-08-28 | Maple Rock Capital Partners Inc. | 9.9% | SCHEDULE 13G |
| 2025-09-23 | Zekelman Industries, Inc. | 3.08% | SCHEDULE 13D/A |
| 2025-11-07 | Maple Rock Capital Partners Inc. | 13.3% | SCHEDULE 13G/A |
| 2025-11-12 | Donald Smith & Co., Inc. | 5.7% | SCHEDULE 13G |
| 2025-11-14 | MMCAP International Inc. SPC | 7.7% | SCHEDULE 13G/A |
| 2025-11-20 | MMCAP International Inc. SPC | 10% | SCHEDULE 13G/A |
| 2026-02-12 | Donald Smith & Co., Inc. | 5.6% | SCHEDULE 13G |
| 2026-02-17 | MMCAP International Inc. SPC | 10.9% | SCHEDULE 13G/A |
| 2026-05-13 | Donald Smith & Co., Inc. | 5.8% | SCHEDULE 13G |
| 2026-05-15 | Maple Rock Capital Partners Inc. | 15.1% | SCHEDULE 13G/A |
| 2026-05-15 | MMCAP International Inc. SPC | 12.2% | SCHEDULE 13G/A |
| 2026-08-11 | Donald Smith & Co., Inc. | 5% | SCHEDULE 13G |
| 2026-08-14 | MMCAP International Inc. SPC | 10.4% | SCHEDULE 13G/A |
Questions about who owns Algoma Steel Group Inc.
Who owns Algoma Steel Group Inc.?
On this page, 4 holders' latest ownership filings report 5% or more of Algoma Steel Group Inc.: Maple Rock Capital Partners Inc. (15.1%, Schedule 13G/A, filed 2026-05-15), MMCAP International Inc. SPC (10.4%, Schedule 13G/A, filed 2026-08-14), CDC Financial, Inc. (5.4%, Schedule 13G/A, filed 2025-08-14) and Donald Smith & Co., Inc. (5%, Schedule 13G, filed 2026-08-11).
Who are the largest shareholders of Algoma Steel Group Inc.?
By the share each holder's latest filing reports, the largest holders of Algoma Steel Group Inc. on this page are Maple Rock Capital Partners Inc. (15.1%), MMCAP International Inc. SPC (10.4%) and CDC Financial, Inc. (5.4%).
When did Maple Rock Capital Partners Inc. buy into Algoma Steel Group Inc.?
The filings give report dates, not purchase dates. The earliest filing from Maple Rock Capital Partners Inc. on this page is the Schedule 13D/A, filed 2025-08-14, reporting 9.9%; its latest, Schedule 13G/A filed 2026-05-15, reports 15.1%. That earliest filing is itself an amendment, which updates an earlier report.
Is this an audit or a full list?
Neither. The ownership list on this page covers only Schedule 13D and 13G filings, which holders make once they own 5% or more of a class of shares (an amendment can report a stake that has since fallen below 5%); 17 such filings are shown here. It is not an audit and not a full cap table: holders who never reached 5% are not listed, and a stake can change after its latest filing.
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Where this comes from
Anyone who comes to own more than 5% of a class of a listed company's voting shares has to tell the SEC. A holder who may seek to change or influence the company files Schedule 13D, and has to say in Item 4, "Purpose of Transaction", what it intends to do. A holder with no such intent, such as many index and passive funds, may file the shorter Schedule 13G. Both are amended when the stake changes, including when it falls below 5%.
Every row here is one of those filings, linked to the filing itself. Percentages and share counts are exactly as the holder filed them, for the holder the filing names; an amendment showing a lower figure is shown as filed. Item 4 text is quoted word for word. Where a 13D's Item 4 contains a sentence stating a definite intent to influence the company, that sentence is marked and quoted; the page does not describe the holder or its motives beyond the words it filed. Nothing here is investment advice.