SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: BROOKFIELD Corp
Filing Type: Form 13F Information Table
Reporting Period: Quarter ended December 31, 2017
Context: This filing discloses the equity securities held by BROOKFIELD Corp 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 infrastructure, energy, real estate, and industrial sectors.
Key Financial Metrics and Portfolio Composition
The filing provides a granular list of holdings rather than aggregate financial statements for BROOKFIELD Corp itself. Key portfolio metrics include:
- Total Holdings Disclosed: The table lists over 100 individual equity positions.
- Top Holdings by Value (Selected):
- General Growth Properties, Inc.: $7,649,791,000 (327,053,880 shares)
- Vistra Energy Corp: $783,376,000 (42,760,701 shares) - Note: Multiple entries exist for this issuer.
- Norbord Inc.: $1,177,199,000 (34,787,535 shares)
- Brookfield Property Partners LP: $1,117,717,000 (50,438,485 units)
- Brookfield Renewable Partners LP: $1,957,367,000 (56,068,944 units)
- Investment Authority: Most positions are held with "Discretionary" authority (DFND 1, 2, 3, 4), indicating management control over trading decisions. Some positions are held with "Sole" voting authority.
- Derivatives: The filing includes one Put option position (SPDR S&P 500 ETF Trust).
Material Changes and Portfolio Activity
Note: As this is a static snapshot of holdings at period-end, the filing text does not explicitly state the net change in value or share count compared to the prior quarter (September 30, 2017). However, the presence of specific large positions (e.g., General Growth Properties, Vistra Energy) indicates significant capital allocation in distressed or turnaround assets and energy infrastructure.
The filing distinguishes between different classes of voting authority (Sole, Shared, None) and investment discretion, suggesting a complex structure of managed accounts or subsidiaries.
Guidance, Risks, and Contingencies
Management Commentary: The filing text contains no management commentary, forward-looking guidance, or strategic outlook. It is a regulatory disclosure of holdings only.
Risks and Contingencies:
- Concentration Risk: Significant exposure to specific sectors, particularly Energy (e.g., Enbridge, Kinder Morgan, Vistra) and Real Estate (e.g., Brookfield Property Partners, General Growth Properties).
- Market Risk: The portfolio value is subject to market fluctuations of the underlying equities.
- Regulatory Disclaimer: The filing includes a standard SEC disclaimer stating the Commission has not reviewed the information for accuracy or completeness.
Key Facts for Investor Verification
- Valuation Accuracy: Verify the total market value of the portfolio by summing the "Value" column (in thousands) to assess total assets under management disclosed in this specific table.
- Related Party Transactions: Confirm the nature of the large holdings in Brookfield-affiliated entities (Brookfield Property Partners, Brookfield Renewable Partners, Brookfield Business Partners) to understand internal capital allocation.
- Distressed Assets: Investigate the status of General Growth Properties and Vistra Energy holdings, as these represent substantial positions in companies that may have undergone restructuring or bankruptcy proceedings around this period.
- Voting Rights: Review the "Voting Authority" columns to determine the extent of control BROOKFIELD Corp exercises over the governance of these public companies.