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 March 31, 2023
Context: This filing discloses the equity securities held by Brookfield Corp as of the end of the reporting period. The table lists individual holdings, including common stock, preferred stock, and partnership units, categorized by voting authority (Sole, Shared, None) and investment discretion.
Key Financial Metrics and Portfolio Composition
Note: Form 13F filings disclose portfolio holdings and market values but do not report the filer's own revenue, profit, cash flow, or debt metrics.
- Portfolio Scope: The filing lists over 300 distinct equity positions across various sectors, including Real Estate, Energy, Utilities, Technology, and Financials.
- Top Holdings by Value (Selected):
- PG&E Corp: $264,278,098 (16,343,729 shares)
- CenterPoint Energy Inc: $222,754,631 (7,561,257 shares)
- Prologis Inc: $222,646,949 (1,784,459 shares)
- Cheniere Energy Inc: $279,788,699 (1,775,309 shares)
- Energy Transfer LP: $160,758,937 (12,891,655 units)
- Significant Internal Holdings: The filing includes substantial positions in Brookfield-affiliated entities, such as Brookfield Corp ($4.36B), Brookfield Asset Management ($998.87M), and Brookfield Renewable Corp ($1.57B).
- Derivatives: The portfolio includes Put and Call options on various securities (e.g., Canadian Pacific Ry, First Horizon, iShares ETFs), indicating active risk management or hedging strategies.
Material Changes and Voting Authority
Voting Authority Distribution:
- Sole Discretion: Significant holdings in Brookfield-affiliated entities (e.g., Brookfield Corp, Brookfield Renewable Partners) are reported with "Sole" voting authority.
- Shared/None: Many external public equity holdings (e.g., PG&E, CenterPoint, Prologis) are reported with "Shared" or "None" voting authority, suggesting these may be held through funds or managed accounts where voting rights are shared or waived.
Comparison to Prior Period: The provided text contains only the snapshot for the period ended March 31, 2023. It does not include the prior quarter's data; therefore, material changes in share counts or values cannot be calculated from this document alone.
Guidance, Outlook, and Risks
Management Commentary: Not applicable. Form 13F is a regulatory disclosure of holdings and does not contain management commentary, forward-looking guidance, or strategic outlooks.
Risks and Contingencies:
- Concentration Risk: The portfolio shows heavy concentration in the Energy and Utilities sectors (e.g., Cheniere, CenterPoint, PG&E, NextEra Energy).
- Related Party Exposure: Significant exposure to the Brookfield ecosystem itself, which may correlate with the reporting entity's broader performance.
- Derivative Exposure: The presence of Put and Call options introduces market risk dependent on the performance of the underlying assets.
Key Facts for Investor Verification
- Internal vs. External Allocation: Verify the proportion of assets held in Brookfield-affiliated entities versus third-party public equities to understand the degree of internal concentration.
- Voting Rights: Confirm the extent of "Sole" voting authority versus "Shared/None" to assess the reporting manager's direct influence over the listed companies.
- Derivative Positions: Review the specific Put/Call positions (e.g., on iShares ETFs and specific stocks) to understand the hedging strategy employed during the quarter.
- Missing Financials: Investors should note that this filing does not provide Brookfield Corp's own financial performance (revenue, EBITDA, debt levels); those figures must be sourced from the company's 10-K or 10-Q filings.