SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: BROOKFIELD Corp
Filing Type: Form 13F Information Table (Statement of Holdings)
Reporting Period: Quarter ended December 31, 2014
Context: This filing discloses the equity securities held by the investment manager at the end of the reporting period. It is a regulatory disclosure of portfolio composition, not a financial performance report of the company itself.
Key Financial Metrics and Portfolio Composition
The filing details a diversified portfolio of equity securities, including common stocks, preferred stocks, and limited partnership units. Key observations include:
- Portfolio Scope: The table lists over 150 distinct issuers, ranging from large-cap industrial and energy firms to real estate investment trusts (REITs) and exchange-traded funds (ETFs).
- Significant Holdings: The largest positions by share count include General Growth Properties (311,055,268 shares), Brookfield Residential Properties Inc (81,493,112 shares), and Brookfield Property Partners LP (45,249,901 units).
- Derivatives: The portfolio includes call and put options on specific issuers such as BHP Billiton, Freeport-McMoran, General Motors, and various ETFs.
- Voting Authority: Voting authority is categorized as Sole, Shared, or None. A significant portion of the portfolio, particularly in REITs and partnerships, lists "Shared" voting authority.
Material Changes and Comparisons
Comparison Data: The filing text does not provide data for the prior comparable period (September 30, 2014). Consequently, material changes in position size, new acquisitions, or divestitures cannot be calculated from this document alone.
Guidance, Outlook, and Risks
Management Commentary: Form 13F filings are strictly data-driven and do not contain management commentary, forward-looking guidance, or strategic outlooks.
Risks and Contingencies: The filing does not disclose specific risks or contingencies. However, the presence of "Shared" voting authority on numerous positions indicates reliance on third-party managers or co-investors for governance decisions on those assets.
Investor Verification Checklist
- Verify the total aggregate value of the portfolio by applying current market prices to the share counts listed, as the filing only provides share quantities and not total market value.
- Confirm the distinction between "Sole" and "Shared" voting authority to understand the actual control BROOKFIELD Corp exercises over its largest holdings.
- Review the specific CUSIPs for derivative positions (Calls/Puts) to assess the hedging strategy or speculative exposure on issuers like General Motors and BHP Billiton.
- Compare these holdings against the company's public 10-K or 10-Q filings to reconcile the investment portfolio with the company's reported assets.