SCHEDULE 13G/A: Principal Global Investors and Principal Funds Maintain Significant Stakes in Brookfield Infrastructure Partners

Principal Global Investors, LLC and Principal Funds, Inc. jointly reported beneficial ownership of 5.8% and 5.1% respectively, in Brookfield Infrastructure Partners L.P. as of December 31, 2024, held in the ordinary course of business.

Summary

• Principal Global Investors, LLC (PGI) and Principal Funds, Inc. Principal MidCap Fund (PFI MidCap Fund) have jointly filed an Amendment No. 1 to Schedule 13G regarding their beneficial ownership in Brookfield Infrastructure Partners L.P.
• As of December 31, 2024, PGI beneficially owned 26,675,618 Limited Partnership Units, representing 5.8% of the class.
• PGI holds shared voting power and shared dispositive power over all 26,675,618 units.
• As of December 31, 2024, PFI MidCap Fund beneficially owned 23,420,381 Limited Partnership Units, representing 5.1% of the class.
• PFI MidCap Fund holds shared voting power and shared dispositive power over all 23,420,381 units.
• The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing (Schedule 13G Amendment) disclosing beneficial ownership. It is factual and does not contain information that would inherently suggest a positive or negative sentiment regarding the issuer's performance or outlook, beyond confirming continued institutional investment.

Positives

• The filing indicates continued significant institutional investment in Brookfield Infrastructure Partners L.P. by Principal Global Investors and Principal Funds.
• The reporting persons certify that their holdings are for investment purposes in the ordinary course of business and not to influence or change control of the issuer, which suggests stability in their investment approach.

Future Outlook

NA

Management Comments

• Principal Global Investors, LLC and Principal Funds, Inc. certify that, to the best of their knowledge and belief, 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.

Industry Context

This filing reflects ongoing institutional investor interest in the infrastructure sector, with major asset managers like Principal Global Investors maintaining significant positions in key players such as Brookfield Infrastructure Partners L.P. Such disclosures provide transparency into the ownership structure of publicly traded entities.

Stakeholder Impact

• Shareholders: The continued significant ownership by large institutional investors like Principal Global Investors and Principal Funds may be viewed positively, indicating confidence in the company's long-term prospects and stability in its shareholder base.

Key Dates

Keywords

Brookfield Infrastructure Partners, Principal Global Investors, Principal Funds, Schedule 13G, beneficial ownership, institutional investment, limited partnership units, SEC filing