Business Context and Reporting Period
This Form 13F-HR is a quarterly holdings report filed by Brookfield Asset Management Inc. for the period ended March 31, 2012. The report discloses equity securities held by the institutional investment manager and three other included managers: Brookfield Investment Management Inc., AMP Capital Brookfield (US) LLC, and Brookfield Asset Management Private Institutional Capital Adviser (Canada) LP.
Key Financial Metrics
- Total Portfolio Value: $7,765,604,000 (reported in thousands).
- Total Number of Holdings: 131 entries.
- Top Holdings by Value:
- Brookfield Office Properties Inc.: $4,351,377,000
- General Growth Properties Inc.: $6,076,690,000 (Note: Includes significant holdings across multiple entries)
- Brookfield Residential Properties: $777,557,000
- Rouse Properties Inc.: $359,901,000
- Howard Hughes Corp: $154,860,000
- Confidential Information: The filing notes that confidential information has been omitted and filed separately.
Material Changes
The filing text provided is a snapshot of holdings as of March 31, 2012, and does not contain comparative data from the prior quarter (December 31, 2011). Therefore, material changes in position size or portfolio composition versus the prior period cannot be determined from this document alone.
Guidance, Outlook, and Risks
Form 13F filings are regulatory disclosures of holdings and do not contain management commentary, financial guidance, outlook, or risk factors. The document lists voting authority (Sole, Shared, None) for various positions but provides no qualitative analysis or future projections.
Important Facts for Investor Verification
- Concentration Risk: The portfolio is heavily concentrated in real estate and infrastructure sectors, with significant stakes in Brookfield-affiliated entities (Office Properties, Residential Properties) and General Growth Properties.
- Multiple Managers: The reported value aggregates holdings across four distinct management entities; investors should verify if specific strategies are isolated to one manager.
- Confidential Filings: A portion of the portfolio details is redacted and filed separately, meaning the public record is incomplete.
- Warrant Holdings: The manager holds warrants for several issuers (e.g., Bank of America, General Motors, JPMorgan Chase), which represent contingent equity exposure not reflected in standard share counts.