Brookfield Business Partners

BBU • NYSE

Brookfield Business Partners is a conglomerates company in the industrials sector on NYSE, led by David Nowak, with a market cap of $3.2B. As of Q3 2025, 86% of shares are held by 65 institutional investors, with BROOKFIELD ASSET MANAGEMENT INC. as the largest holder at 49.21%.

Chief Executive OfficerDavid Nowak

Market Cap$3.2B

Conglomerates

Industrials

Employees72.0K

Websitebbu.brookfield.com

Overview

Overview of institutional ownership in BBU as of Q3 2025 with a market cap of $2.9B

All Institutions

Institutions: 65
Value Held: $2.5B
Shares Held: 76.1M
Avg Position: $38.2M
Median Position: $397.2K

Hedge Funds

Hedge Funds: 1
Value Held: $7.7M
Shares Held: 235.6K
Avg Position: $7.7M
Median Position: $7.7M

Ownership Breakdown

Institutional (non-HF)

85.44%

$2.5B

Hedge Funds

0.267%

$7.7M

Retail & Other

14.3%

$414.2M

Based on market cap of $2.9B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in BBU as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
B BROOKFIELD ASSET MANAGEMENT INC. RIA/Wealth	Jon Michael Pearlman Member	$1.4B 1.66% of portfolio	49.21% 43.7M shares	Q2 2016 Held for 9y 5m	$85.8B
O OMERS ADMINISTRATION Corp Institution	-	$392.6M 2.83% of portfolio	13.55% 12.0M shares	Q3 2017 Held for 8y 2m	$13.9B
R ROYAL BANK OF CANADA Institution	-	$224.8M 0.04% of portfolio	7.76% 6.9M shares	Q2 2016 Held for 9y 5m	$542.04B
P Partners Value Investments LP Institution	-	$145.1M 1.34% of portfolio	5.01% 4.4M shares	Q3 2023 Held for 2y 2m	$10.8B
C CI INVESTMENTS INC. Institution	-	$72.8M 0.27% of portfolio	2.51% 2.2M shares	Q2 2018 Held for 7y 5m	$26.9B
PCJ Investment Counsel Ltd. Long Only Manager	John Wyatt Ricketts President	$43.8M 12.18% of portfolio	1.51% 1.3M shares	Q4 2023 Held for 1y 11m	$359.5M
T TD Waterhouse Canada Inc. Institution	-	$35.5M 0.23% of portfolio	1.26% 1.1M shares	Q4 2021 Held for 3y 11m	$15.4B
P PICTON MAHONEY ASSET MANAGEMENT Institution	-	$22.7M 0.30% of portfolio	0.78% 696.7K shares	Q2 2025 Held for 5 months	$7.6B
Beutel, Goodman & Co Ltd. Long Only Manager	Jackie Corneil Managing Partner	$20.9M 0.13% of portfolio	0.72% 641.1K shares	Q1 2021 Held for 4y 8m	$16.6B
BANK OF MONTREAL /CAN/ Institution	Darryl White CEO	$18.1M 0.01% of portfolio	0.62% 553.1K shares	Q2 2016 Held for 9y 5m	$235.55B

Net Capital Flow

Institutional buying and selling activity for BBU in Q3 2025

Net Flow: −$8.5M
Buyers: 17
Sellers: 28
Total Bought: +$26.7M
Total Sold: −$35.3M
Avg Position: $37.9M

Biggest Buyers

Institution	Net Bought	Current Position
P PICTON MAHONEY ASSET MANAGEMENT Institution	+$9.7M +297.2K shares	$22.7M 696.7K shares
JPMORGAN CHASE & CO Institution	+$9.4M +286.9K shares	$10.5M 322.9K shares
BANK OF MONTREAL /CAN/ Institution	+$2.3M +69.7K shares	$18.1M 553.1K shares
PCJ Investment Counsel Ltd. Long Only Manager	+$2.2M +67.3K shares	$43.8M 1.3M shares
GOLDMAN SACHS GROUP INC Institution	+$558.4K +17.1K shares	$1.0M 30.7K shares
T TD Waterhouse Canada Inc. Institution	+$555.2K +17.5K shares	$35.5M 1.1M shares
N Northwest & Ethical Investments L.P. Institution	+$480.7K +14.8K shares	$983.3K 30.2K shares
T TD ASSET MANAGEMENT INC Institution	+$468.6K +14.3K shares	$5.4M 163.6K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	+$428.7K +13.1K shares	$684.2K 21.0K shares
M MANUFACTURERES LIFE INSURANCE CO Institution	+$240.8K +7.3K shares	$1.3M 39.9K shares

Biggest Sellers

Institution	Net Sold	Current Position
R ROYAL BANK OF CANADA Institution	−$16.3M −498.8K shares	$224.8M 6.9M shares
F Forge First Asset Management Inc. Institution	−$9.3M −357.5K shares	Sold Off 0 shares
T Triasima Portfolio Management inc. Long Only Manager	−$3.5M −135.7K shares	Sold Off 0 shares
A AGF MANAGEMENT LTD Institution	−$2.8M −86.7K shares	$8.2M 249.6K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$777.6K −30.0K shares	Sold Off 0 shares
K K2 PRINCIPAL FUND, L.P. Institution	−$630.0K −13.8K shares	$397.2K 8.7K shares
Beutel, Goodman & Co Ltd. Long Only Manager	−$620.9K −19.0K shares	$20.9M 641.1K shares
C Cardinal Point Capital Management, ULC Hedge Fund•Value	−$235.9K −7.2K shares	$7.7M 235.6K shares
UBS Group AG Institution	−$232.0K −7.1K shares	$385.1K 11.8K shares
N NATIONAL BANK OF CANADA /FI/ Institution	−$166.4K −5.6K shares	$2.0M 67.5K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited BBU in Q3 2025

New Positions: 8
New Value: $18.8M
Exited Positions: 9
Exited Value: $13.7M

New Positions

Institution	Position Value
STATE OF WISCONSIN INVESTMENT BOARD RIA/Wealth	$6.4M 195.6K shares
C CREDIT INDUSTRIEL ET COMMERCIAL Institution	$4.9M 150.4K shares
H Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Institution	$3.4M 104.0K shares
A Alpine Partners VI, LLC Institution	$3.3M 75.4K shares
H HRT FINANCIAL LLC Institution	$318.8K 9.8K shares
C Cumberland Partners Ltd Institution	$318.0K 9.7K shares
Guardian Partners Inc. RIA/Wealth	$221.2K 6.7K shares
A Advisory Services Network, LLC RIA/Wealth	$4.5K 137.0 shares

Exited Positions

Institution	Previous Position
F Forge First Asset Management Inc. Institution	$9.3M 357.5K shares
T Triasima Portfolio Management inc. Long Only Manager	$3.5M 135.7K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$777.6K 30.0K shares
INTACT INVESTMENT MANAGEMENT INC. Private Equity	$54.6K 2.1K shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	$14.8K 571.0 shares
HARBOUR INVESTMENTS, INC. RIA/Wealth	$882.0 34.0 shares
Ameritas Advisory Services, LLC RIA/Wealth	$117.0 5.0 shares
WHITTIER TRUST CO RIA/Wealth	$51.0 2.0 shares
Briaud Financial Planning, Inc RIA/Wealth	- 21.0 shares

Options Activity

Institutions with the largest Call and Put options positions in BBU as of Q3 2025

Call Positions: 1
Call Value: $280.4K
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$280.4K 86.0 contracts

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

Institutions with BBU as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
PCJ Investment Counsel Ltd. Long Only Manager	John Wyatt Ricketts President	12.18% $43.8M	1.51% 1.3M shares	Q4 2023 Held for 1y 11m	$359.5M
O OMERS ADMINISTRATION Corp Institution	-	2.83% $392.6M	13.55% 12.0M shares	Q3 2017 Held for 8y 2m	$13.9B
B BROOKFIELD ASSET MANAGEMENT INC. RIA/Wealth	Jon Michael Pearlman Member	1.66% $1.4B	49.21% 43.7M shares	Q2 2016 Held for 9y 5m	$85.8B
P Partners Value Investments LP Institution	-	1.34% $145.1M	5.01% 4.4M shares	Q3 2023 Held for 2y 2m	$10.8B
C CREDIT INDUSTRIEL ET COMMERCIAL Institution	-	1.11% $4.9M	0.17% 150.4K shares	Q3 2025 Held for 2 months	$440.6M
A Alpine Partners VI, LLC Institution	-	0.78% $3.3M	0.08% 75.4K shares	Q3 2025 Held for 2 months	$423.2M
C Cardinal Point Capital Management, ULC Hedge Fund•Value	Michelle Lynn Yarwood CCO	0.54% $7.7M	0.27% 235.6K shares	Q1 2025 Held for 8 months	$1.4B
Gold Investment Management Ltd. RIA/Wealth	Jonathon Andrew Lewis Gold President	0.50% $1.5M	0.05% 44.3K shares	Q4 2023 Held for 1y 11m	$293.0M
TANDEM CAPITAL MANAGEMENT CORP /ADV RIA/Wealth	Kent G. Sheng President	0.45% $964.2K	0.03% 29.6K shares	Q4 2019 Held for 5y 11m	$214.8M
P PICTON MAHONEY ASSET MANAGEMENT Institution	-	0.30% $22.7M	0.78% 696.7K shares	Q2 2025 Held for 5 months	$7.6B

Hedge Fund Spotlight

Discover hedge funds investing in BBU

Cardinal Point Capital Management, ULC

Hedge Fund • Value

Portfolio ManagerMichelle Lynn Yarwood

Portfolio Value: $1.4B
Positions: 267
Last Reported: Q3 2025

Sector Allocation

Position in Brookfield Business Partners

Market Value: $7.7M
Shares Held: 235.6K
Portfolio Weight: 0.54%
Owned Since: 2025-Q1

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3 Apple AAPL	Consumer Electronics Technology	$70.6M	4.91%