SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: Cohen & Steers, Inc.
Filing Type: Form 13F Information Table
Reporting Period: Quarter ended December 31, 2022
Context: This filing discloses the equity securities held by Cohen & Steers, Inc. as a registered investment adviser. The table lists individual holdings, share counts, and voting authority but does not contain the company's own financial performance metrics (revenue, profit, cash flow).
Key Financial Metrics and Portfolio Composition
Revenue, Profit, and Cash Flow: The filing text does not provide a clear value for Cohen & Steers, Inc.'s revenue, profit, cash flow, or margins. Form 13F filings are limited to portfolio holdings and do not report the manager's operating results.
Debt and Liquidity: The filing text does not provide a clear value for the company's debt or liquidity position.
Portfolio Overview: The portfolio is heavily concentrated in Real Estate Investment Trusts (REITs), Energy Infrastructure (MLPs), and Fixed Income funds. Notable holdings include Invitation Homes, Welltower, Prologis, and various PIMCO and BlackRock income funds.
Material Changes and Voting Authority
Voting Authority: The filing distinguishes between "Sole," "Shared," and "None" voting authority. A significant portion of the portfolio is held with "Sole" voting authority. However, many large positions (e.g., Invitation Homes, Welltower, Prologis, Digital Realty) are listed with "Shared" voting authority, indicating co-management or specific fund structures.
Comparative Changes: This document represents a snapshot of holdings as of December 31, 2022. It does not contain data for the prior comparable period (September 30, 2022) within this text, preventing a direct calculation of material changes in share counts or value within this summary.
Guidance, Outlook, and Risks
Management Commentary: The filing text does not provide management commentary, guidance, or outlook.
Risks and Contingencies: No specific risks or contingencies are detailed in this form. The standard SEC disclaimer notes that the Commission has not reviewed the information for accuracy or completeness.
Unusual Items: The portfolio includes a significant position in WeWork Inc. (4,352,711 shares) and various preferred stock and convertible income funds, reflecting a strategy focused on income generation and real assets.
Key Facts for Investor Verification
- Top Holdings by Share Count: Verify the valuation of top positions including Invitation Homes (77.4M shares), Welltower (47.5M shares), Prologis (36.8M shares), and Realty Income (38.6M shares).
- Voting Rights: Confirm the implications of "Shared" voting authority on major REIT and infrastructure holdings, as this may affect proxy voting influence.
- Fixed Income Exposure: Note the heavy allocation to closed-end funds and ETFs (e.g., PIMCO, BlackRock, Nuveen) which may have different liquidity profiles than direct equity holdings.
- Missing Financials: Investors must refer to the company's Form 10-K or 10-Q for actual revenue, profit, and debt metrics, as they are absent from this 13F filing.