Royal Bank of Canada files amended 13G: 487,399 Brookfield Business Partners units (BBU)

Rhea-AI Filing Summary

Royal Bank of Canada filed an Amendment No. 4 to Schedule 13G/A reporting beneficial ownership of 487,399 Limited Partnership Units of Brookfield Business Partners LP (0.55%). The filing discloses shared voting power and shared dispositive power of 487,399 and states the position is classified as "Ownership of 5 percent or less of a class." The cover shows 03/31/2026 and the amendment is signed on 05/14/2026.

Insights

Institutional Ownership Specialist

RBC reports a minority, passive holding of Brookfield Business Partners LP.

The Schedule 13G/A amendment lists 487,399 units (0.55%) with identical shared voting and dispositive authority. It characterizes the position as "Ownership of 5 percent or less of a class," which signals passive institutional reporting under the applicable rule.

Dependence on aggregate entity structure is noted: several RBC-affiliated entities are referenced in the exhibit language. Subsequent filings would show any material changes in stake or voting arrangements.

Key Figures

Units beneficially owned: 487,399 units Percent of class: 0.55% Shared voting power: 487,399 +3 more

6 metrics

Units beneficially owned 487,399 units Limited Partnership Units (reported in Schedule 13G/A)

Percent of class 0.55% Percent of Limited Partnership Units outstanding

Shared voting power 487,399 Amount for which filer has shared voting power

Shared dispositive power 487,399 Amount for which filer has shared dispositive power

Filing cover date 03/31/2026 Date shown on the cover of the amendment

Signature date 05/14/2026 Signature date on the amendment

Key Terms

Schedule 13G/A, Beneficially owned, Shared dispositive power, Ownership of 5 percent or less of a class

4 terms

Schedule 13G/A regulatory

"Amendment No. 4 to Schedule 13G/A reporting beneficial ownership"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

Beneficially owned regulatory

"Amount beneficially owned: 487,399"

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.

Shared dispositive power regulatory

"Shared Dispositive Power 487,399.00"

Ownership of 5 percent or less of a class regulatory

"Item 5. | Ownership of 5 percent or less of a class"

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Accepted by SEC EDGAR 05/15/2026 - 11:15 AM Learn about SEC filing dates

FAQ

What stake does Royal Bank of Canada report in BBU?

Royal Bank of Canada reports beneficial ownership of 487,399 Limited Partnership Units, representing 0.55% of the class as shown in the amendment.

Does RBC hold voting or dispositive power over the BBU units?

The filing states RBC has shared voting power of 487,399 and shared dispositive power of 487,399 for the reported units, with no sole powers disclosed.

How is this position classified on the Schedule 13G/A?

The amendment classifies the holding as "Ownership of 5 percent or less of a class." That classification typically indicates passive institutional ownership under the rule.

What entities within RBC are referenced in the filing?

The filing names RBC Phillips Hager & North Investment Counsel Inc., RBC Private Counsel (USA) Inc., Royal Trust Corporation of Canada, and RT Partnership in explanatory language attached to the amendment.

What are the relevant dates shown in the amendment?

The cover lists 03/31/2026 and the amendment is signed by an authorized signatory on 05/14/2026 as indicated in the filing.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 4)

Brookfield Business Partners LP

(Name of Issuer)

Limited Partnership Units

(Title of Class of Securities)

G16234109

(CUSIP Number)

03/31/2026

(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): G16234109

1

Names of Reporting Persons

Royal Bank of Canada

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

CANADA (FEDERAL LEVEL)

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 487,399.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 487,399.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

487,399.00

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)

0.55 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Brookfield Business Partners LP
(b)	Address of issuer's principal executive offices: 73 Front Street, 5th Floor, Hamilton, Bermuda, HM 12
Item 2.
(a)	Name of person filing: Royal Bank of Canada
(b)	Address or principal business office or, if none, residence: 200 Bay Street, Toronto, Ontario, M5J QJ5, Canada
(c)	Citizenship: Canada
(d)	Title of class of securities: Limited Partnership Units
(e)	CUSIP No.: G16234109
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: 487,399
(b)	Percent of class: 0.55 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 487,399
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 487,399
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
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.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. RBC Phillips Hager & North Investment Counsel Inc.: A non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J). RBC Private Counsel (USA) Inc.: An investment adviser in accordance with ss. 240.13d-1(b)(1)(ii)(E). Royal Trust Corporation of Canada and RT Partnership are entities that beneficially own in aggregate less than one percent of the reported securities.
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above 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 of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

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.

Royal Bank of Canada

Signature:	/s/ Terry Fallon
Name/Title:	Managing Director
Date:	05/14/2026

Exhibit Information

99.1 Power of Attorney https://www.sec.gov/Archives/edgar/data/1000275/000121465925015105/ex99_1.htm