UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 20-F o REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR o SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commiss ...

We came across a bullish thesis on Brookfield Renewable Partners L.P. on David & Moat Investments’s Substack. In this article, we will summarize the bulls’ thesis on BEP. Brookfield Renewable Partners L.P.'s share was trading at $30.92 as of February 9th. SolarEdge (SEDG) Climbs 13% as Peers Post Strong Earnings Pixabay/Public Domain Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities in North America, Colombia, and Brazil. BEP delivered a strong 2025 performance ...

Group 1 - The market is currently presenting a paradox where AI appears to be both a bubble and a great equalizer for investors [2] - Focusing on high-yield real asset businesses may be a crucial decision for investment portfolios in the coming years [1] - High Yield Investor offers a portfolio that has consistently outperformed the market, emphasizing the importance of finding profitable opportunities [1] Group 2 - Samuel Smith, a lead analyst with a diverse background, leads the High Yield Investor group, focusing on balancing safety, growth, yield, and value [2] - The High Yield Investor services include real-money core, retirement, and international portfolios, along with trade alerts and educational content [2]

Core Insights - High Yield Investor is celebrating its fifth anniversary by offering a 30-day money-back guarantee, encouraging new memberships and the release of their Top Picks for 2026 [1] Group 1: Market Performance - Since early 2023, the S&P 500 has experienced a significant upward trend, largely driven by the mainstream adoption of ChatGPT and strong guidance from Nvidia [1] - The NASDAQ has shown even greater growth compared to the S&P 500 during this period [1] Group 2: Leadership and Expertise - Samuel Smith, the lead analyst of High Yield Investor, has a diverse background in dividend stock research and engineering, holding degrees from the United States Military Academy and Texas A&M [1] - The investment group is led by Samuel Smith in collaboration with Jussi Askola and Paul R. Drake, focusing on balancing safety, growth, yield, and value in their investment strategies [1] Group 3: Investment Offerings - High Yield Investor provides various investment portfolios, including core, retirement, and international options, along with regular trade alerts and educational content [1] - The service features an active chat room for investors to engage and share insights [1]

Core Viewpoint - Brookfield Renewable Partners is positioned as a strong investment due to its attractive dividend yield, consistent cash flow growth, and strategic partnerships in the renewable energy sector. Group 1: Financial Performance - Brookfield Renewable Partners has a current share price of approximately $31.77, with a market capitalization of $9.7 billion and a dividend yield of 4.70% [2] - In 2025, the company reported $1.3 billion in funds from operations (FFO), reflecting a 13.8% increase, with FFO per share rising by 10.8% to $0.52 [8] - The company has increased its dividend payouts for five consecutive years, including a 5% boost this year to $0.392, resulting in a total increase of 27% [10] Group 2: Market Position and Growth Potential - Brookfield Renewable is well-positioned to benefit from the growing demand for electricity, which is expected to increase by 35% to 50% by 2040 due to economic growth and the expansion of data centers and manufacturing [3] - The company has long-term power purchasing agreements averaging 13 years, with 90% of its electricity sales secured through these contracts [11] - Brookfield Renewable has geographic diversity, operating in North America, South America, Europe, Asia, and Australia, which enhances its market resilience [8] Group 3: Strategic Partnerships - The company has established partnerships with major corporations like Microsoft and Alphabet, which are significant drivers of electricity demand in the U.S. [4] - Brookfield Renewable's focus on renewable energy sources positions it favorably amid global shifts towards sustainable energy solutions [4] Group 4: Comparison with Brookfield Renewable Corporation - Brookfield Renewable Partners and Brookfield Renewable Corporation are essentially the same entity, sharing assets and dividend payments, but differ in tax reporting requirements for investors [5] - Brookfield Renewable Corporation generally has a lower dividend yield of 3.40% due to higher demand and exclusion from certain investment portfolios [7]

Core Insights - The ACES ETF is positioned to benefit from a $1.4 trillion utility infrastructure upgrade through 2030, driven by the need to modernize an aging grid to meet rising power demands [1] - Utilities have increased capital spending by 12% in 2025, with expectations of an additional 6% increase in 2026 as they address surging electricity needs and replace outdated equipment [1] - Approximately 40% of the U.S. grid infrastructure is over 40 years old, creating a bottleneck that necessitates an overhaul, benefiting companies within ACES' holdings [1] Investment Opportunities - ACES has a 16.2% allocation to energy management and storage firms that provide equipment and technology for grid modernization [1] - Itron (ITRI), making up 4.9% of ACES, manufactures smart meters and grid management equipment essential for utilities [1] - The fund also includes renewable energy developers such as Brookfield Renewable Partners (BEP) at nearly 5% and Clearway Energy (CWEN) at 3.9% [1] Performance Metrics - ACES has total assets of $115.8 million as of December and has returned 36.2% over the past year, significantly outperforming the S&P 1000 Index, which returned 7.04% in the same period [1] Market Trends - Battery energy storage systems are becoming integral to utility planning, with over 30 U.S. states expected to show strong market conditions for battery storage in the next five years [1] - Fluence Energy (FLNC), representing 1.5% of ACES, surged 55.6% in January after securing contracts for battery technology for a clean energy center [1] - Eos Energy Enterprises (EOSE), holding a 3.8% weight in the fund, gained 27.8% following the launch of a new battery architecture [1] Sector Dynamics - Total electricity demand rose by 2.3% in 2025, with data centers projected to account for 10% of total electricity consumption by 2030 [1] - U.S. electricity demand growth is expected to quadruple in 2026, driven by AI computing facilities and broader electrification [1] - The clean energy sector is increasingly influenced by long-term capital expenditures related to infrastructure needs rather than short-term policy cycles [1]

Core Insights - The transition to electric vehicles, automated manufacturing, and AI data centers necessitates significant new power-generating capacity [1] Company Overview - Brookfield Renewable is a global leader in clean power asset operation and development, positioning itself for substantial total returns for investors [2] - The company operates a diversified portfolio that includes hydroelectric, wind, solar, distributed energy, and battery storage assets across multiple continents [3] Strategic Partnerships - Brookfield Renewable is collaborating with Microsoft to deliver over 10.5 gigawatts of renewable energy capacity in the U.S. and Europe from 2026 to 2030, supporting Microsoft's cloud and AI operations [4] - The company has signed the largest corporate clean power deal for hydroelectricity with Google, amounting to up to 3 gigawatts [4] Growth Drivers - Brookfield Renewable benefits from multiple growth drivers, including power purchase agreements (PPAs) linked to inflation and the signing of new PPAs at higher rates as older contracts expire [6] - The company has a substantial backlog of renewable energy projects under development and actively engages in value-enhancing acquisitions [6] Government Initiatives - The U.S. government has formed a strategic partnership with Westinghouse to accelerate nuclear power deployment, supporting the construction of at least $80 billion in new reactors to meet electricity needs for AI [5]

Group 1 - The company reported a pretax profit of €1.31 billion for 2025, which is an increase from €1.13 billion in the previous year [1]

Core Viewpoint - The equity market serves as a significant mechanism for wealth creation or destruction over the long term, with Pacifica Yield focusing on undervalued high-growth companies, high-dividend stocks, REITs, and green energy firms [1] Group 1 - Pacifica Yield aims to pursue long-term wealth creation [1] - The strategy includes a focus on undervalued yet high-growth companies [1] - High-dividend tickers, REITs, and green energy firms are also key areas of interest [1]

Core Insights - High Yield Investor is celebrating its fifth anniversary by offering a 30-day money-back guarantee, encouraging new memberships and the release of Top Picks for 2026 [1] - A common mistake among retirees is the false sense of security when investing in double-digit income yields, which may lead to unsustainable passive income beliefs [1] Company Overview - Samuel Smith, the lead analyst of High Yield Investor, has a diverse background in dividend stock research and holds degrees in Civil Engineering & Mathematics and a Master's in Engineering with a focus on applied mathematics and machine learning [1] - The High Yield Investor team, including Jussi Askola and Paul R. Drake, aims to balance safety, growth, yield, and value in their investment strategies [1] Service Features - High Yield Investor provides real-money core, retirement, and international portfolios, along with regular trade alerts, educational content, and an active chat room for investors [1]