SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: BROOKFIELD Corp
Filing Type: Form 13F Information Table (Statement of Holdings)
Reporting Period: Quarter ended June 30, 2015
Context: This filing discloses the equity securities held by the investment manager as of the end of the reporting period. It details the number of shares, value, and voting authority for a diverse portfolio of public equities, primarily focused on real estate, energy infrastructure, and midstream sectors.
Key Financial Metrics and Portfolio Composition
Portfolio Overview: The filing lists over 100 individual holdings. While the total aggregate portfolio value is not explicitly summed in the text, the largest individual positions by value include:
- General Growth Properties: 299,504,977 shares valued at approximately $7.69 billion.
- Prologis Inc: 8,543,051 shares valued at approximately $316.9 million.
- Outfront Media Inc: 8,833,608 shares valued at approximately $222.9 million.
- Simon Property Group Inc: 2,522,139 shares valued at approximately $436.4 million.
- Williams Cos Inc: 4,692,808 shares valued at approximately $269.3 million.
Voting Authority: The manager reports "Sole" voting authority for the majority of listed positions. "Shared" voting authority is noted for several holdings, including Alexander's Inc, American Tower Corp, and AvalonBay Communities Inc.
Material Changes and Portfolio Activity
Comparison to Prior Period: As this is a static snapshot of holdings for the quarter ended June 30, 2015, the filing text does not provide comparative data against the prior quarter (March 31, 2015) to calculate net purchases or sales. Material changes in position size cannot be determined from this document alone.
Notable Holdings: The portfolio shows significant concentration in Real Estate Investment Trusts (REITs) and Master Limited Partnerships (MLPs), consistent with the company's investment strategy. Notable energy infrastructure holdings include Enterprise Products Partners, Kinder Morgan, and Williams Partners LP.
Guidance, Risks, and Contingencies
Management Commentary: Form 13F filings are regulatory disclosures of holdings and do not contain management commentary, forward-looking guidance, or strategic outlooks.
Risks and Contingencies: The filing includes a standard disclaimer stating that the SEC has not reviewed the information for accuracy or completeness. The primary risk inherent in this filing is the concentration of assets in specific sectors (Real Estate and Energy), which exposes the portfolio to sector-specific market volatility.
Investor Verification Checklist
- General Growth Properties Position: Verify the valuation and status of the massive $7.69 billion holding in General Growth Properties, as this represents a significant portion of the disclosed portfolio.
- Shared Voting Authority: Review the specific agreements regarding "Shared" voting authority for major holdings like American Tower and AvalonBay to understand control dynamics.
- Derivative Exposure: Note the presence of Call and Put options (e.g., General Motors, SPDR S&P 500 ETF) which may indicate hedging strategies or leveraged positions not fully captured by the long equity list.
- Related Party Transactions: Confirm the nature of the holdings in Brookfield-affiliated entities (e.g., Brookfield Property Partners LP, Brookfield Canada Office Properties) to assess potential related-party exposure.