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 March 31, 2017
Context: This filing discloses the equity securities held by Brookfield Corp as of the end of the reporting period. It details the issuer, class of security, CUSIP, value, share/principal amount, and voting authority (Sole, Shared, or None) for each holding.
Key Financial Metrics and Portfolio Composition
The filing provides a snapshot of the portfolio's composition rather than the company's operational financials (revenue, profit, cash flow). Key portfolio metrics include:
- Portfolio Scope: The table lists over 100 distinct equity positions, including common stocks, preferred stocks, limited partnership units, and exchange-traded funds (ETFs).
- Top Holdings by Value:
- General Growth Properties Common Stock: $5,919,153,000 (Sole Voting Authority)
- Brookfield Canada Office Properties Common Stock: $247,861,000 (Sole Voting Authority)
- Brookfield Property Partners LP: $1,127,804,000 (Shared Voting Authority)
- Brookfield Renewable Energy Partners LP: $1,510,260,000 (Shared Voting Authority)
- Brookfield Business Partners LP: $610,683,000 (Shared Voting Authority)
- Asset Classes: Significant exposure to Real Estate Investment Trusts (REITs), Energy/Midstream partnerships, Utilities, and Infrastructure.
- Voting Authority: The majority of positions are held with "Shared" voting authority, indicating co-management or fund structures. Specific large positions in General Growth Properties and Brookfield Canada Office Properties are held with "Sole" voting authority.
Material Changes and Portfolio Activity
Note: Form 13F filings are point-in-time snapshots. This document does not explicitly state the change in value or share count compared to the prior quarter (December 31, 2016). Therefore, material changes versus the prior period cannot be calculated from this text alone.
However, the presence of specific holdings indicates active management in the following sectors:
- Real Estate: Heavy concentration in REITs such as American Homes 4 Rent, AvalonBay Communities, and Brixmor Property Group.
- Energy & Infrastructure: Significant positions in Kinder Morgan, Enterprise Products Partners, and Williams Companies.
- Derivatives: The filing includes positions in Call and Put options (e.g., General Motors Call, SPDR S&P 500 ETF Put, iShares Russell 2000 ETF Put), indicating hedging or speculative strategies.
Guidance, Outlook, and Risks
Guidance and Outlook: The filing text does not contain management commentary, forward-looking guidance, or strategic outlook statements. It is strictly a regulatory disclosure of holdings.
Risks and Contingencies:
- Concentration Risk: The portfolio shows high concentration in specific sectors (Real Estate, Energy) and affiliated entities (Brookfield family of companies).
- Market Risk: The inclusion of Put options on major indices (S&P 500, Russell 2000) suggests a hedge against market downturns.
- Regulatory Disclaimer: The filing includes a standard SEC disclaimer stating 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, noting that the provided text lists individual line items but does not explicitly state the total portfolio value.
- Confirm the voting authority status for the largest holdings (General Growth Properties, Brookfield Canada Office Properties) to understand control levels.
- Review the specific Call and Put option positions (e.g., General Motors, SPDR S&P 500) to assess the company's hedging strategy and risk exposure.
- Compare this list against the previous quarter's 13F filing to identify net buys or sells, as this document does not provide historical comparison data.
- Investigate the "Shared" voting authority positions to understand the underlying fund structures or joint ventures involved.