[Form 4] The Charles Schwab Corporation Insider Trading Activity
Schedule 13G/A (Amendment 2) filed 31 Jul 2025 shows that four Canadian investment advisers linked to Scotiabank 鈥� 1832 Asset Management L.P., MD Financial Management Inc., Scotia McLeod (Scotia Capital Inc.) and Jarislowsky, Fraser Ltd 鈥� collectively owned 22,630,889 Brookfield Infrastructure Partners (BIP) LP units on 30 Jun 2025, equal to 4.90 % of the outstanding class.
Voting/dispositive authority is largely unilateral: sole power over 22,603,439 units and shared power over only 27,450 units. Individual stakes are: 1832 AM 15.45 m units (3.35 %), Scotia McLeod 7.15 m (1.55 %), MD Financial 25 k (0.01 %) and Jarislowsky Fraser 3.2 k (<0.01 %).
The group now certifies ownership of 5 % or less, indicating a position below the threshold that would otherwise trigger Schedule 13D obligations. The securities are held in the ordinary course of business with no intent to influence control.
Schedule 13G/A (Emendamento 2) depositato il 31 luglio 2025 mostra che quattro consulenti di investimento canadesi legati a Scotiabank 鈥� 1832 Asset Management L.P., MD Financial Management Inc., Scotia McLeod (Scotia Capital Inc.) e Jarislowsky, Fraser Ltd 鈥� detenevano collettivamente 22.630.889 unit脿 di Brookfield Infrastructure Partners (BIP) LP al 30 giugno 2025, pari al 4,90% della classe in circolazione.
L'autorit脿 di voto/dispositivo 猫 prevalentemente unilaterale: potere esclusivo su 22.603.439 unit脿 e potere condiviso solo su 27.450 unit脿. Le partecipazioni individuali sono: 1832 AM 15,45 milioni di unit脿 (3,35%), Scotia McLeod 7,15 milioni (1,55%), MD Financial 25 mila (0,01%) e Jarislowsky Fraser 3.200 (<0,01%).
Il gruppo certifica ora una detenzione pari o inferiore al 5%, indicando una posizione al di sotto della soglia che altrimenti attiverebbe obblighi di Schedule 13D. I titoli sono detenuti nell'ambito ordinario dell'attivit脿 senza l'intento di influenzare il controllo.
Schedule 13G/A (Enmienda 2) presentada el 31 de julio de 2025 muestra que cuatro asesores de inversi贸n canadienses vinculados a Scotiabank 鈥� 1832 Asset Management L.P., MD Financial Management Inc., Scotia McLeod (Scotia Capital Inc.) y Jarislowsky, Fraser Ltd 鈥� pose铆an colectivamente 22,630,889 unidades de Brookfield Infrastructure Partners (BIP) LP al 30 de junio de 2025, equivalentes al 4.90% de la clase en circulaci贸n.
La autoridad de voto/disposici贸n es mayormente unilateral: poder exclusivo sobre 22,603,439 unidades y poder compartido solo sobre 27,450 unidades. Las participaciones individuales son: 1832 AM 15.45 millones de unidades (3.35%), Scotia McLeod 7.15 millones (1.55%), MD Financial 25 mil (0.01%) y Jarislowsky Fraser 3.200 (<0.01%).
El grupo ahora certifica una propiedad del 5% o menos, indicando una posici贸n por debajo del umbral que activar铆a obligaciones bajo el Schedule 13D. Los valores se mantienen en el curso ordinario del negocio sin intenci贸n de influir en el control.
Schedule 13G/A (靾橃爼鞎� 2)臧� 2025雲� 7鞗� 31鞚� 鞝滌稖霅橃棃鞙茧┌, 鞀れ綌靸る眳韥檧 甏�霠悳 雱� 臧滌潣 旌愲倶雼� 韴瀽 鞛愲靷��1832 Asset Management L.P., MD Financial Management Inc., Scotia McLeod (Scotia Capital Inc.), Jarislowsky, Fraser Ltd鈥旉皜 2025雲� 6鞗� 30鞚� 旮办鞙茧 Brookfield Infrastructure Partners (BIP) LP 雼渼 22,630,889臧�毳� 瓿惦彊 氤挫湢頃橁碃 鞛堨溂氅�, 鞚措姅 鞝勳泊 氚滍枆 欤检嫕鞚� 4.90%鞐� 頃措嫻頃╇媹雼�.
鞚橁舶甓� 氚� 觳橂秳 甓岉暅鞚� 雽�攵�攵� 雼弲 甓岉暅鞙茧, 雼弲 甓岉暅鞚� 22,603,439 雼渼, 瓿惦彊 甓岉暅鞚� 27,450 雼渼鞐� 攵堦臣頃╇媹雼�. 臧滊硠 氤挫湢霟夓潃 1832 AM 1,545毵� 雼渼(3.35%), Scotia McLeod 715毵�(1.55%), MD Financial 2.5毵�(0.01%), Jarislowsky Fraser 3,200臧�(<0.01%)鞛呺媹雼�.
鞚� 攴鸽９鞚� 順勳灛 5% 鞚错晿鞚� 靻岇湢甓�鞚� 鞚胳頃橂┌, 鞚措姅 Schedule 13D 鞚橂毳� 氚滌儩鞁滍偆電� 旮办旃� 鞚错晿鞛勳潉 雮橅儉雰呺媹雼�. 頃措嫻 歃濌秾鞚� 瓴届榿甓岇棎 鞓來枼鞚� 氙胳範 鞚橂弰 鞐嗢澊 鞝曥儊鞝侅澑 靷梾 瓿检爼鞐愳劀 氤挫湢 欷戩瀰雼堧嫟.
Schedule 13G/A (Amendement 2) d茅pos茅 le 31 juillet 2025 indique que quatre conseillers en investissement canadiens li茅s 脿 Scotiabank 鈥� 1832 Asset Management L.P., MD Financial Management Inc., Scotia McLeod (Scotia Capital Inc.) et Jarislowsky, Fraser Ltd 鈥� d茅tenaient collectivement 22 630 889 unit茅s de Brookfield Infrastructure Partners (BIP) LP au 30 juin 2025, soit 4,90 % de la classe en circulation.
L'autorit茅 de vote/dispositive est largement unilat茅rale : pouvoir exclusif sur 22 603 439 unit茅s et pouvoir partag茅 sur seulement 27 450 unit茅s. Les participations individuelles sont : 1832 AM 15,45 millions d'unit茅s (3,35 %), Scotia McLeod 7,15 millions (1,55 %), MD Financial 25 000 (0,01 %) et Jarislowsky Fraser 3 200 (<0,01 %).
Le groupe certifie d茅sormais une possession de 5 % ou moins, indiquant une position en dessous du seuil qui d茅clencherait autrement des obligations selon le Schedule 13D. Les titres sont d茅tenus dans le cours normal des affaires sans intention d'influencer le contr么le.
Schedule 13G/A (脛nderung 2), eingereicht am 31. Juli 2025, zeigt, dass vier kanadische Anlageberater, die mit der Scotiabank verbunden sind 鈥� 1832 Asset Management L.P., MD Financial Management Inc., Scotia McLeod (Scotia Capital Inc.) und Jarislowsky, Fraser Ltd 鈥� gemeinsam 22.630.889 Brookfield Infrastructure Partners (BIP) LP Einheiten zum 30. Juni 2025 besa脽en, was 4,90 % der ausstehenden Klasse entspricht.
Die Stimm- und Verf眉gungsbefugnis liegt 眉berwiegend unilateral: Alleinige Kontrolle 眉ber 22.603.439 Einheiten und gemeinsame Kontrolle nur 眉ber 27.450 Einheiten. Die individuellen Anteile sind: 1832 AM 15,45 Mio. Einheiten (3,35 %), Scotia McLeod 7,15 Mio. (1,55 %), MD Financial 25 Tsd. (0,01 %) und Jarislowsky Fraser 3.200 (<0,01 %).
Die Gruppe best盲tigt nun eine Eigent眉merschaft von 5 % oder weniger, was auf eine Position unterhalb der Schwelle hinweist, die sonst 13D-Meldepflichten ausl枚sen w眉rde. Die Wertpapiere werden im normalen Gesch盲ftsverlauf gehalten, ohne die Absicht, Kontrolle auszu眉ben.
- None.
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Insights
TL;DR: Scotiabank-linked advisers hold 4.9 % of BIP, below 5 % control threshold; neutral governance impact.
The amended 13G shows aggregate ownership slipping under the 5 % mark, removing any perception of an activist stance and reducing future reporting burdens. Although 22.6 m units is sizable, it is dispersed among several asset-management entities and is declared as purely passive. No price-sensitive guidance or transaction terms are disclosed. From a valuation perspective, the filing neither signals strategic buying nor selling pressure; it merely updates the share count.
TL;DR: Passive stake below 5 % limits governance influence; disclosure satisfies SEC requirements.
The certification that the units are held in the ordinary course, coupled with sub-5 % ownership, indicates no intent to influence BIP鈥檚 board or policies. This mitigates governance risk for existing investors. The joint filing and power-of-attorney exhibits demonstrate coordinated compliance rather than coordinated action. Overall governance impact is minimal.
Schedule 13G/A (Emendamento 2) depositato il 31 luglio 2025 mostra che quattro consulenti di investimento canadesi legati a Scotiabank 鈥� 1832 Asset Management L.P., MD Financial Management Inc., Scotia McLeod (Scotia Capital Inc.) e Jarislowsky, Fraser Ltd 鈥� detenevano collettivamente 22.630.889 unit脿 di Brookfield Infrastructure Partners (BIP) LP al 30 giugno 2025, pari al 4,90% della classe in circolazione.
L'autorit脿 di voto/dispositivo 猫 prevalentemente unilaterale: potere esclusivo su 22.603.439 unit脿 e potere condiviso solo su 27.450 unit脿. Le partecipazioni individuali sono: 1832 AM 15,45 milioni di unit脿 (3,35%), Scotia McLeod 7,15 milioni (1,55%), MD Financial 25 mila (0,01%) e Jarislowsky Fraser 3.200 (<0,01%).
Il gruppo certifica ora una detenzione pari o inferiore al 5%, indicando una posizione al di sotto della soglia che altrimenti attiverebbe obblighi di Schedule 13D. I titoli sono detenuti nell'ambito ordinario dell'attivit脿 senza l'intento di influenzare il controllo.
Schedule 13G/A (Enmienda 2) presentada el 31 de julio de 2025 muestra que cuatro asesores de inversi贸n canadienses vinculados a Scotiabank 鈥� 1832 Asset Management L.P., MD Financial Management Inc., Scotia McLeod (Scotia Capital Inc.) y Jarislowsky, Fraser Ltd 鈥� pose铆an colectivamente 22,630,889 unidades de Brookfield Infrastructure Partners (BIP) LP al 30 de junio de 2025, equivalentes al 4.90% de la clase en circulaci贸n.
La autoridad de voto/disposici贸n es mayormente unilateral: poder exclusivo sobre 22,603,439 unidades y poder compartido solo sobre 27,450 unidades. Las participaciones individuales son: 1832 AM 15.45 millones de unidades (3.35%), Scotia McLeod 7.15 millones (1.55%), MD Financial 25 mil (0.01%) y Jarislowsky Fraser 3.200 (<0.01%).
El grupo ahora certifica una propiedad del 5% o menos, indicando una posici贸n por debajo del umbral que activar铆a obligaciones bajo el Schedule 13D. Los valores se mantienen en el curso ordinario del negocio sin intenci贸n de influir en el control.
Schedule 13G/A (靾橃爼鞎� 2)臧� 2025雲� 7鞗� 31鞚� 鞝滌稖霅橃棃鞙茧┌, 鞀れ綌靸る眳韥檧 甏�霠悳 雱� 臧滌潣 旌愲倶雼� 韴瀽 鞛愲靷��1832 Asset Management L.P., MD Financial Management Inc., Scotia McLeod (Scotia Capital Inc.), Jarislowsky, Fraser Ltd鈥旉皜 2025雲� 6鞗� 30鞚� 旮办鞙茧 Brookfield Infrastructure Partners (BIP) LP 雼渼 22,630,889臧�毳� 瓿惦彊 氤挫湢頃橁碃 鞛堨溂氅�, 鞚措姅 鞝勳泊 氚滍枆 欤检嫕鞚� 4.90%鞐� 頃措嫻頃╇媹雼�.
鞚橁舶甓� 氚� 觳橂秳 甓岉暅鞚� 雽�攵�攵� 雼弲 甓岉暅鞙茧, 雼弲 甓岉暅鞚� 22,603,439 雼渼, 瓿惦彊 甓岉暅鞚� 27,450 雼渼鞐� 攵堦臣頃╇媹雼�. 臧滊硠 氤挫湢霟夓潃 1832 AM 1,545毵� 雼渼(3.35%), Scotia McLeod 715毵�(1.55%), MD Financial 2.5毵�(0.01%), Jarislowsky Fraser 3,200臧�(<0.01%)鞛呺媹雼�.
鞚� 攴鸽９鞚� 順勳灛 5% 鞚错晿鞚� 靻岇湢甓�鞚� 鞚胳頃橂┌, 鞚措姅 Schedule 13D 鞚橂毳� 氚滌儩鞁滍偆電� 旮办旃� 鞚错晿鞛勳潉 雮橅儉雰呺媹雼�. 頃措嫻 歃濌秾鞚� 瓴届榿甓岇棎 鞓來枼鞚� 氙胳範 鞚橂弰 鞐嗢澊 鞝曥儊鞝侅澑 靷梾 瓿检爼鞐愳劀 氤挫湢 欷戩瀰雼堧嫟.
Schedule 13G/A (Amendement 2) d茅pos茅 le 31 juillet 2025 indique que quatre conseillers en investissement canadiens li茅s 脿 Scotiabank 鈥� 1832 Asset Management L.P., MD Financial Management Inc., Scotia McLeod (Scotia Capital Inc.) et Jarislowsky, Fraser Ltd 鈥� d茅tenaient collectivement 22 630 889 unit茅s de Brookfield Infrastructure Partners (BIP) LP au 30 juin 2025, soit 4,90 % de la classe en circulation.
L'autorit茅 de vote/dispositive est largement unilat茅rale : pouvoir exclusif sur 22 603 439 unit茅s et pouvoir partag茅 sur seulement 27 450 unit茅s. Les participations individuelles sont : 1832 AM 15,45 millions d'unit茅s (3,35 %), Scotia McLeod 7,15 millions (1,55 %), MD Financial 25 000 (0,01 %) et Jarislowsky Fraser 3 200 (<0,01 %).
Le groupe certifie d茅sormais une possession de 5 % ou moins, indiquant une position en dessous du seuil qui d茅clencherait autrement des obligations selon le Schedule 13D. Les titres sont d茅tenus dans le cours normal des affaires sans intention d'influencer le contr么le.
Schedule 13G/A (脛nderung 2), eingereicht am 31. Juli 2025, zeigt, dass vier kanadische Anlageberater, die mit der Scotiabank verbunden sind 鈥� 1832 Asset Management L.P., MD Financial Management Inc., Scotia McLeod (Scotia Capital Inc.) und Jarislowsky, Fraser Ltd 鈥� gemeinsam 22.630.889 Brookfield Infrastructure Partners (BIP) LP Einheiten zum 30. Juni 2025 besa脽en, was 4,90 % der ausstehenden Klasse entspricht.
Die Stimm- und Verf眉gungsbefugnis liegt 眉berwiegend unilateral: Alleinige Kontrolle 眉ber 22.603.439 Einheiten und gemeinsame Kontrolle nur 眉ber 27.450 Einheiten. Die individuellen Anteile sind: 1832 AM 15,45 Mio. Einheiten (3,35 %), Scotia McLeod 7,15 Mio. (1,55 %), MD Financial 25 Tsd. (0,01 %) und Jarislowsky Fraser 3.200 (<0,01 %).
Die Gruppe best盲tigt nun eine Eigent眉merschaft von 5 % oder weniger, was auf eine Position unterhalb der Schwelle hinweist, die sonst 13D-Meldepflichten ausl枚sen w眉rde. Die Wertpapiere werden im normalen Gesch盲ftsverlauf gehalten, ohne die Absicht, Kontrolle auszu眉ben.
FAQ
How many Brookfield Infrastructure Partners (BIP) units do the reporting advisers own?
Which entity holds the largest individual stake in BIP according to the Schedule 13G/A?
Does the filing indicate any intention to influence control of BIP?
Why is the 5 % threshold important in a Schedule 13G filing?
What is the CUSIP number for Brookfield Infrastructure Partners LP units?
