[SCHEDULE 13D/A] Brookfield Asset Management Ltd. Amended Major Shareholder Report

Rhea-AI Filing Summary

Brookfield Corporation and BAM Partners Trust filed Amendment No. 2 to update their large ownership position in Brookfield Asset Management Ltd. They report beneficial ownership of 1,193,021,145 Class A Limited Voting Shares, or about 72.8% of the issuer’s 1,638,131,687 Class A shares outstanding as of March 31, 2026.

The amendment details a new US$1,000,000,000 margin loan entered into on April 2, 2026 by BWS BAM Financing LP, guaranteed by certain subsidiaries of Brookfield Wealth Solutions Ltd. The borrower pledged 65,000,000 Class A shares as collateral, with the credit facility maturing on April 2, 2028.

The pledged shares represent less than 6% of the Class A shares held directly and indirectly by Brookfield Corporation and Brookfield Wealth Solutions Ltd. and less than 4% of all outstanding Class A shares. Voting and dividend rights on the collateral remain with the borrower unless an event of default occurs. The filing notes no other transactions in the issuer’s shares by the reporting persons in the past 60 days.

Key Figures

Beneficial ownership: 1,193,021,145 Class A shares Ownership percentage: 72.8% Shares outstanding: 1,638,131,687 Class A shares +5 more

8 metrics

Beneficial ownership 1,193,021,145 Class A shares Shares beneficially owned by reporting persons

Ownership percentage 72.8% Portion of Class A shares outstanding as of March 31, 2026

Shares outstanding 1,638,131,687 Class A shares Issuer’s Class A shares outstanding as of March 31, 2026

Credit facility size US$1,000,000,000 Margin loan to BWS BAM Financing LP

Collateral shares 65,000,000 Class A shares Shares pledged to secure the credit facility

Facility maturity April 2, 2028 Maturity date of the margin loan

Collateral vs BN/BNT holdings Less than 6% Portion of Class A shares held by BN and BNT represented by collateral

Collateral vs total outstanding Less than 4% Portion of all outstanding Class A shares represented by collateral

Key Terms

Schedule 13D, margin loan agreement, Class A Limited Voting Shares, Voting Agreement, +1 more

5 terms

Schedule 13D regulatory

"This Amendment No. 2 amends and supplements the originally filed on February 5, 2025"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

margin loan agreement financial

"entered into a margin loan agreement with Royal Bank of Canada, as lender and administrative agent"

Class A Limited Voting Shares financial

"Title of Class of Securities: Class A Limited Voting Shares"

Voting Agreement regulatory

"subject to the Voting Agreement described in Item 4 of Amendment No. 1"

beneficial ownership financial

"BAM Partners may be deemed to have indirect beneficial ownership of the Class A Shares"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 2)

Brookfield Asset Management Ltd.

(Name of Issuer)

Class A Limited Voting Shares

(Title of Class of Securities)

113004105

(CUSIP Number)

Swati Mandava
Brookfield Corporation, Brookfield Place, 181 Bay Street, Suite 100
Toronto, A6, M5J 2T3
416-363-9491

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

04/01/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 113004105

1

Name of reporting person

BROOKFIELD CORPORATION

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

ONTARIO, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,193,021,145.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,193,021,145.00

11

Aggregate amount beneficially owned by each reporting person

1,193,021,145.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

72.8 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

In reference to Rows 8, 10 and 11 above, amount consists of Class A Limited Voting Shares ("Class A Shares") of Brookfield Asset Management Ltd. (the "Issuer") held by (i) Brookfield Corporation ("BN") through Brookfield BAM Holdco Inc., BN BAM SPV Finance Inc., Brookfield Corporate Holdings I LP, Brookfield Corporate Holdings II LP, Brookfield Corporate Holdings III LP and Brookfield Renewable Power Inc., each a wholly-owned subsidiary of BN, and (ii) by Brookfield Wealth Solutions Ltd. ("BNT"), a paired corporation to BN, and its subsidiaries, and subject to the Voting Agreement described in Item 4 of Amendment No. 1 (as defined herein). In reference to Row 13 above, percentage ownership is based on 1,638,131,687 Class A Shares outstanding as of March 31, 2026.

SCHEDULE 13D

CUSIP Number(s): 113004105

1

Name of reporting person

BAM PARTNERS TRUST

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

ONTARIO, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,193,021,145.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,193,021,145.00

11

Aggregate amount beneficially owned by each reporting person

1,193,021,145.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

72.8 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

In reference to Rows 8, 10 and 11 above, amount consists of Class A Shares beneficially owned by BN (including certain of its subsidiaries) and BNT or its subsidiaries. BAM Partners Trust ("BAM Partners") may be deemed to have indirect beneficial ownership of the Class A Shares since BAM Partners is the sole owner of the Class B limited voting shares of BN and has the ability to appoint one half of the board of directors of BN and approve, along with the holders of Class A Shares, all other matters requiring shareholder approval of BN with no single individual or entity controlling BAM Partners. In reference to Row 13 above, percentage ownership is based on 1,638,131,687 Class A Shares outstanding as of March 31, 2026.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Class A Limited Voting Shares
(b)	Name of Issuer: Brookfield Asset Management Ltd.
(c)	Address of Issuer's Principal Executive Offices: Brookfield Place, 250 Vesey Street, 15th Floor, New York, NEW YORK , 10281-0221.
Item 1 Comment: EXPLANATORY NOTE This Amendment No. 2 (this "Amendment No. 2") amends and supplements the Schedule 13D originally filed on February 5, 2025 (the "Original Schedule 13D"), as amended by Amendment No. 1 filed on May 16, 2025 ("Amendment No. 1, and together with the Original Schedule 13D, the "Schedule 13D"), to reflect the transactions described in Item 4 of this Amendment No. 2. Information and defined terms reported in the Schedule 13D remain in effect except to the extent amended or superseded by information or defined terms contained in this Amendment No. 2.
Item 2.	Identity and Background
(a)	Item 2 of the Schedule 13D is hereby amended and supplemented as follows: Schedule I hereto sets forth updated names of directors and executive officers of BN (to be included as Scheduled Persons) and their respective principal occupations, addresses, and citizenships. See Exhibit 99.6 - Schedule I
Item 4.	Purpose of Transaction
	Item 4 of the Schedule 13D is hereby supplemented as follows: On April 2, 2026, BWS BAM Financing LP (the "Borrower"), as borrower, and certain subsidiaries of BNT, as guarantors, entered into a margin loan agreement with Royal Bank of Canada, as lender and administrative agent, and RBC Capital Markets LLC, as calculation agent, under which the Borrower intends to borrow US$1,000,000,000 (the "Credit Facility") and the Borrower has agreed to pledge 65,000,000 Class A Shares (the "Collateral Shares"). The Credit Facility matures on April 2, 2028. As is customary for this type of credit facility, upon the occurrence of certain events of default that remain unremedied and certain other specified events, the Borrower will be required to repay the amounts outstanding under the Credit Facility. The failure by the Borrower to make such repayment may result in the lenders exercising their rights and disposing of some or all of the Collateral Shares. Unless an event of default is continuing under the Credit Facility, all voting rights and rights to receive dividends and distributions with respect to the Collateral Shares remain with Borrower, subject to the terms of the Voting Agreement described in Amendment No. 1. The Collateral Shares represent less than 6% of the aggregate number of Class A Shares directly and indirectly held by BN and BNT and less than 4% of all the outstanding Class A Shares.
Item 5.	Interest in Securities of the Issuer
(a)	Item 5(a) of the Schedule 13D is hereby amended and restated as follows: (a) The aggregate number and percentage of Class A Shares held by the Reporting Persons to which this Schedule 13D relates is 1,193,021,145 Class A Shares (which includes 65,000,000 Class A Shares owned by BNT and subject to the Voting Agreement), constituting approximately 72.8% of the Issuer's currently outstanding Class A Shares. The percentage of Class A Shares is based on an aggregate number of Class A Shares of 1,638,131,687 Class A Shares outstanding as of March 31, 2026.
(b)	Item 5(b) of Schedule 13D is hereby amended and restated as follows: (b) The information set forth in Item 5(a) of Amendment No. 2 is hereby incorporated herein by reference.
(c)	Item 5(c) of Schedule 13D is hereby amended and restated as follows: (c) Except as described herein, there have been no transactions by the Reporting Persons in the Class A Shares during the past 60 days.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Item 6 of the Schedule 13D is hereby supplemented as follows: The information set forth in Item 4 of this Amendment No. 2 is hereby incorporated by reference.
Item 7.	Material to be Filed as Exhibits.
	Item 7 of the Schedule 13D is hereby amended and supplemented as follows: 99.6 Schedule I

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.

BROOKFIELD CORPORATION

Signature:	/s/ Swati Mandava
Name/Title:	Swati Mandava/Managing Director, Legal & Regulatory and Corporate Secretary
Date:	04/06/2026

BAM PARTNERS TRUST

Signature:	/s/ Kathy Sarpash
Name/Title:	Kathy Sarpash/Secretary, BAM PARTNERS TRUST, by its trustee, BAM CLASS B PARTNERS INC.
Date:	04/06/2026