SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: BROOKFIELD Corp (Reporting Manager)
Filing Type: Form 13F Information Table
Reporting Period: Quarter ended June 30, 2023
Context: This filing discloses the equity securities held by Brookfield Corp as of the end of the reporting period. The portfolio is heavily concentrated in real estate, infrastructure, energy, and midstream sectors, with significant holdings in affiliated Brookfield entities and major U.S. public companies.
Key Financial Metrics and Portfolio Composition
Note: Form 13F filings report holdings by value and share count but do not disclose the reporting entity's revenue, profit, cash flow, or debt levels.
- Total Reported Value: The filing lists hundreds of individual positions. The largest single position by value is Cheniere Energy Partners LP at approximately $4.69 billion (101.6 million shares).
- Top Holdings by Value (Selected):
- Cheniere Energy Partners LP: ~$4.69B
- Brookfield Corp (Common Stock): ~$4.50B
- Brookfield Asset Management Ltd: ~$996M
- Brookfield Business Corp: ~$906M
- Brookfield Renewable Corp: ~$1.41B
- Brookfield Renewable Partners: ~$2.03B
- Vornado Realty Trust: ~$170M
- Williams Cos Inc: ~$204M
- Energy Transfer LP: ~$160M
- Portfolio Breadth: The filing includes over 300 distinct issuers, ranging from large-cap technology (Microsoft, Apple, Alphabet) to specialized REITs and energy infrastructure firms.
Material Changes and Voting Authority
The filing categorizes voting authority into Sole, Shared, and None. Significant portions of the portfolio, particularly in affiliated Brookfield entities, are held with Sole voting authority.
- Affiliated Holdings: Brookfield Corp holds massive positions in its own ecosystem, including Brookfield Corp, Brookfield Asset Management, Brookfield Business, Brookfield Infrastructure, and Brookfield Renewable. These positions represent billions of dollars in value.
- Derivatives: The filing discloses the use of call and put options for several positions, including Apellis Pharmaceuticals, Horizon Therapeutics, iRobot, Seagen, Tower Semiconductor, and Silicon Motion.
- Comparison: As this is a snapshot of holdings at a specific date, material changes versus the prior period cannot be calculated without the previous quarter's 13F filing.
Guidance, Outlook, and Risks
Guidance and Outlook: Form 13F filings are historical disclosures of holdings and do not contain management commentary, forward-looking guidance, or strategic outlooks.
Risks and Contingencies:
- Concentration Risk: The portfolio shows significant concentration in the energy and real estate sectors, as well as in affiliated Brookfield entities.
- Liquidity: While many holdings are liquid public equities, the sheer size of positions in certain midstream and REIT entities could impact market liquidity upon large-scale disposition.
- Derivative Exposure: The presence of call and put options indicates active risk management or speculative positioning on specific equities.
Investor Verification Checklist
- Verify the total aggregate value of the portfolio by summing the "Value" column for all listed securities to assess total exposure.
- Confirm the extent of "Sole" voting authority in affiliated Brookfield entities to understand control dynamics.
- Review the specific call and put option positions to understand hedging strategies or directional bets on volatile stocks.
- Compare the share counts of major holdings (e.g., Cheniere Energy Partners, Williams Cos) against the previous quarter's 13F to identify accumulation or reduction trends.
- Check for any "None" voting authority entries to identify pass-through holdings or securities where voting rights are restricted.