Partners Value Investments Swings to $564 Million Q3 Profit on Retractable Share Gains

Partners Value Investments Inc. Reported net income of $564 million for the three months ended September 30, 2026, compared with a net loss of $2,188 million in the prior year period, according to TradingView. The Toronto-listed company holds interests in Brookfield Corporation and Brookfield Asset Management shares alongside a diversified portfolio of marketable securities and private fund interests.

How Remeasurement Gains Lifted Partners Value Investments

The swing to profit was primarily due to remeasurement gains of $476 million on the company's retractable common shares and $70 million on its exchangeable shares. In the prior year period, the company recorded remeasurement losses of $1,898 million on retractable common shares, $76 million on exchangeable shares and $252 million on warrants. Warrant liability remeasurement gains were nil in the current period, and the company's outstanding warrants expired on June 30, 2026.

Partners Value Investments classifies its retractable common shares, exchangeable shares and warrants as liabilities because of their retractable, exchangeable and convertible features. Remeasurement on the retractable and exchangeable shares follows the depreciation or appreciation of the Equity LP unit price of Partners Value Investments L.P.

Adjusted Earnings, a non-IFRS measure that excludes those remeasurement items and dividends paid on retractable common shares, was $25 million for the quarter, down from $46 million a year earlier. The company attributed the decrease to foreign currency translation losses, lower valuation gains on its investment portfolio, higher preferred share dividends and higher current tax expense, partly offset by higher investment income and a deferred tax recovery.

For the nine months ended September 30, 2026, net income was $1,316 million versus a $1,351 million loss in the prior year period. Adjusted Earnings for the nine months was $96 million, compared with $55 million a year earlier.

Partners Value Investments' Earlier 2026 Results

Partners Value Investments Inc. Reported a net loss of $145 million for the three months ended June 30, 2026, wider than the $135 million loss in the prior year period, on higher remeasurement losses on exchangeable shares and warrants, Yahoo reported on August 14, 2026. On the same date, Partners Value Investments L.P. Reported net income of $15 million for the quarter ended June 30, 2026, compared with a $6 million net loss a year earlier, mainly on foreign currency translation gains and higher investment income. Partners Value Investments L.P. Also said the value of consideration to be received on exercising warrants had fallen to $nil from $130 million at the end of 2025.

Brookfield Share Prices After Quarter-End

As at September 30, 2026, a Brookfield Corporation share was priced at $36.46 and a Brookfield Asset Management Ltd. Share at $44.58. As at November 13, 2026, those prices were $40.97 and $51.53, respectively. The company's principal investments are 181 million Brookfield Corporation Class A shares and approximately 26 million Brookfield Asset Management Class A shares, representing about an 8% interest in the former and a 2% interest in the latter.