SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: Cohen & Steers, Inc.
Filing Type: Form 13F Information Table (Quarterly Report of Holdings)
Reporting Period: Quarter ended March 31, 2023
Context: This filing discloses the equity securities held by the investment manager at the end of the quarter. It details the number of shares, value, and voting authority for each position.
Key Financial Metrics and Portfolio Composition
Revenue, Profit, and Cash Flow: The filing text does not provide a clear value for the company's revenue, profit, cash flow, or operating margins. Form 13F filings report portfolio holdings, not the issuer's financial performance.
Debt and Liquidity: The filing text does not provide a clear value for the company's debt levels or liquidity ratios.
Portfolio Highlights: The portfolio is heavily weighted toward Real Estate Investment Trusts (REITs), infrastructure, and high-yield income funds. Notable large positions by share count include:
- Invitation Homes Inc: 82,765,217 shares
- Healthcare Realty Trust Inc: 59,302,010 shares
- Realty Income Corporation: 43,446,709 shares
- Welltower Inc: 44,309,120 shares
- Prologis Inc: 37,127,905 shares
- UDR Inc: 34,190,270 shares
Material Changes and Voting Authority
Comparison to Prior Period: The filing text does not provide a clear value for changes in holdings compared to the prior quarter (December 31, 2022). This specific document only lists the holdings as of March 31, 2023.
Voting Authority: The manager exercises "Sole" voting authority for the vast majority of positions. Several large positions, including Invitation Homes, Prologis, and Welltower, also list "Shared" voting authority, indicating the manager shares voting rights with other parties for those specific holdings.
Guidance, Outlook, and Risks
Management Commentary: The filing text does not provide a clear value for management commentary, future guidance, or strategic outlook. Form 13F is a statutory disclosure of holdings and does not contain narrative commentary.
Risks and Contingencies: No specific risks or contingencies are detailed in this filing. The standard SEC disclaimer notes that the Commission has not reviewed the information for accuracy or completeness.
Investor Verification Checklist
- Verify the total aggregate value of the portfolio by summing the "Value" column, as the filing does not provide a total portfolio value summary.
- Compare the share counts in this filing against the previous quarter's Form 13F to identify significant buys or sells, particularly in the REIT sector.
- Review the "Shared" voting authority entries to understand potential co-investment structures or fund-of-fund arrangements.
- Confirm the specific CUSIPs for large positions to ensure accurate tracking of specific share classes (e.g., Common vs. Preferred).
- Check for any "Put/Call" options activity in Column 5, which appears to be empty for all listed securities in this filing.