Principal investors hold 5.1% of Brookfield Infrastructure

Brookfield Infrastructure Partners L.P. has a significant institutional holder, Principal Global Investors, LLC, which reports beneficial ownership of 23,776,567 Limited Partnership Units, representing 5.1% of the class as of June 30, 2026.

Rhea-AI Filing Summary

Brookfield Infrastructure Partners L.P. has a significant institutional holder, Principal Global Investors, LLC, which reports beneficial ownership of 23,776,567 Limited Partnership Units, representing 5.1% of the class as of June 30, 2026. All of these units are subject to shared voting and dispositive power; none are held with sole voting or dispositive authority.

Principal Funds, Inc., through its Principal MidCap Fund series, reports beneficial ownership of 20,156,517 units, representing 4.4% of the class as of June 30, 2026, and states that its ownership has been reduced to below 5% of the issuer’s outstanding units. Principal Global Investors, LLC and Principal Funds, Inc. are making a joint filing under a Joint Filing Agreement.

Key Figures

PGI beneficial ownership: 23,776,567 units PGI percent of class: 5.1% PFI MidCap Fund ownership: 20,156,517 units +3 more

6 metrics

PGI beneficial ownership 23,776,567 units Limited Partnership Units beneficially owned by Principal Global Investors, LLC as of June 30, 2026

PGI percent of class 5.1% Percent of Brookfield Infrastructure Partners L.P. Limited Partnership Units class held by Principal Global Investors, LLC

PFI MidCap Fund ownership 20,156,517 units Limited Partnership Units held by Principal Funds, Inc. – Principal MidCap Fund as of June 30, 2026

PFI MidCap Fund percent of class 4.4% Percent of class held by Principal Funds, Inc. – Principal MidCap Fund after reduction below 5%

Shared voting power (PGI) 23,776,567 units Units over which Principal Global Investors, LLC has shared voting and dispositive power

Shared voting power (PFI) 20,156,517 units Units over which Principal Funds, Inc. has shared voting and dispositive power

Key Terms

beneficial ownership, shared voting power, dispositive power, Joint Filing Agreement

4 terms

beneficial ownership financial

"Principal Funds, Inc. has reduced its beneficial ownership to less than 5% of the outstanding 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.

shared voting power financial

"Shared Voting Power 23,776,567.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

dispositive power financial

"Shared Dispositive Power 23,776,567.00"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

Joint Filing Agreement regulatory

"jointly pursuant to a Joint Filing Agreement, which is filed with this as Exhibit 99.1"

FAQ

What stake in Brookfield Infrastructure Partners (BIP) does Principal Global Investors report?

Principal Global Investors, LLC reports beneficial ownership of 23,776,567 Limited Partnership Units of Brookfield Infrastructure Partners L.P., representing 5.1% of the outstanding class as of June 30, 2026, all held with shared voting and dispositive power, and no sole authority reported.

How much of Brookfield Infrastructure Partners (BIP) does Principal Funds, Inc. own?

Principal Funds, Inc., via the Principal MidCap Fund, reports 20,156,517 units of Brookfield Infrastructure Partners L.P., equal to 4.4% of the class as of June 30, 2026, and notes this reduces its beneficial ownership to under 5% of outstanding units.

Does Principal Global Investors have sole voting power over its BIP units?

Principal Global Investors, LLC reports 0 units with sole voting power and 23,776,567 units with shared voting power in Brookfield Infrastructure Partners L.P., indicating all reported beneficially owned units are subject to shared, not unilateral, voting authority.

What voting and dispositive powers are reported for Principal Funds, Inc. in BIP?

Principal Funds, Inc. reports 0 units with sole voting or dispositive power and 20,156,517 units with shared voting and shared dispositive power in Brookfield Infrastructure Partners L.P., aligning its entire reported position under shared control structures.

What is the significance of Principal Funds, Inc. dropping below 5% in BIP?

Principal Funds, Inc. states its beneficial ownership in Brookfield Infrastructure Partners L.P. is now 4.4%, based on 20,156,517 units as of June 30, 2026, indicating it no longer meets the 5% threshold often associated with certain large-holder reporting classifications.

Who is filing the Schedule 13G/A related to Brookfield Infrastructure Partners (BIP)?

The Schedule 13G/A is filed jointly by Principal Global Investors, LLC and Principal Funds, Inc. – Principal MidCap Fund, pursuant to a Joint Filing Agreement attached as Exhibit 99.1, covering their beneficial ownership in Brookfield Infrastructure Partners L.P.

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Available on EDGAR 08/05/2026 - 11:46 AM Accepted by SEC EDGAR 08/05/2026 - 11:46 AM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 5)

Brookfield Infrastructure Partners L.P.

(Name of Issuer)

Limited Partnership Units

(Title of Class of Securities)

G16252101

(CUSIP Number)

06/30/2026

(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): G16252101

1

Names of Reporting Persons

PRINCIPAL GLOBAL INVESTORS, LLC

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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 23,776,567.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 23,776,567.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

23,776,567.00

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)

5.1 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP Number(s): G16252101

1

Names of Reporting Persons

PRINCIPAL FUNDS, INC.

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

MARYLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 20,156,517.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 20,156,517.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

20,156,517.00

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)

4.4 %

12

Type of Reporting Person (See Instructions)

IV

Comment for Type of Reporting Person: Principal Funds, Inc. has reduced its beneficial ownership to less than 5% of the outstanding shares of the Issuer. As of June 30, 2026, the Principal MidCap Fund, a series to the Principal Funds, Inc., had ownership of 20,156,517 shares representing 4.4%.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Brookfield Infrastructure Partners L.P.
(b)	Address of issuer's principal executive offices: 73 FRONT STREET, HAMILTON, BERMUDA HM12
Item 2.
(a)	Name of person filing: PRINCIPAL GLOBAL INVESTORS, LLC PRINCIPAL FUNDS, INC.
(b)	Address or principal business office or, if none, residence: PRINCIPAL GLOBAL INVESTORS 711 HIGH STREET DES MOINES, Iowa 50392-0300 PRINCIPAL FUNDS, INC. 711 HIGH STREET DES MOINES, Iowa 50392-0300
(c)	Citizenship: PRINCIPAL GLOBAL INVESTORS, LLC - DELAWARE PRINCIPAL FUNDS, INC. - MARYLAND
(d)	Title of class of securities: Limited Partnership Units
(e)	CUSIP No.: G16252101
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: 23,776,567
(b)	Percent of class: 5.1 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: PRINCIPAL GLOBAL INVESTORS, LLC - 0 PRINCIPAL FUNDS, INC. - 0
	(ii) Shared power to vote or to direct the vote: PRINCIPAL GLOBAL INVESTORS, LLC - 23,776,567 PRINCIPAL FUNDS, INC. - 20,156,517
	(iii) Sole power to dispose or to direct the disposition of: PRINCIPAL GLOBAL INVESTORS, LLC - 0 PRINCIPAL FUNDS, INC. - 0
	(iv) Shared power to dispose or to direct the disposition of: PRINCIPAL GLOBAL INVESTORS, LLC - 23,776,567 PRINCIPAL FUNDS, INC. - 20,156,517
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
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.
	Not Applicable
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.

PRINCIPAL GLOBAL INVESTORS, LLC

Signature:	/s/ J. Markham Penrod
Name/Title:	J. Markham Penrod, Chief Compliance Officer - North America, Principal Asset Management
Date:	07/31/2026

PRINCIPAL FUNDS, INC.

Signature:	/s/ John L. Sullivan
Name/Title:	John L. Sullivan, Counsel and Assistant Secretary
Date:	08/05/2026

Exhibit Information

This statement is filed by Principal Global Investors, LLC ("PGI") and Principal Funds, Inc. - Principal MidCap Fund ("PFI MidCap Fund") jointly pursuant to a Joint Filing Agreement, which is filed with this Schedule 13G as Exhibit 99.1.