SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: Cohen & Steers, Inc.
Filing Type: Form 13F Information Table (Schedule of Holdings)
Reporting Period: Quarter ended December 31, 2017
Context: This filing discloses the equity securities held by the investment manager at the end of the reporting period. It details the number of shares, value, and voting authority for each position.
Key Financial Metrics and Portfolio Composition
Revenue, Profit, and Cash Flow: The filing text does not provide a clear value for the company's revenue, profit, cash flow, or operating margins. Form 13F filings report portfolio holdings, not the issuer's financial performance.
Portfolio Overview: The portfolio is heavily concentrated in Real Estate Investment Trusts (REITs), Master Limited Partnerships (MLPs), and high-yield income funds. Notable holdings include:
- Real Estate: Significant positions in UDR Inc. ($37.9M), Cousins Properties Inc. ($59.6M), and Prologis Inc. ($17.9M).
- Energy/MLPs: Holdings in Kinder Morgan Inc. ($10.2M), Enterprise Products Partners ($2.1M), and Cheniere Energy Inc. ($2.6M).
- Income Funds: Extensive holdings in various BlackRock, Eaton Vance, and Nuveen closed-end funds and trusts.
Debt and Liquidity: The filing text does not provide a clear value for the company's corporate debt or liquidity positions.
Material Changes
The filing text does not provide a clear value for material changes versus the prior comparable period. Form 13F filings are snapshots of holdings at a specific date and do not explicitly list period-over-period changes in this format.
Guidance, Outlook, and Risks
Management Commentary: The filing text does not provide a clear value for management commentary, guidance, or outlook. This form is a regulatory disclosure of holdings and does not contain narrative sections.
Risks and Contingencies: The filing text does not provide a clear value for specific risks or contingencies. However, the portfolio composition indicates exposure to interest rate sensitivity (via REITs and MLPs) and sector-specific risks in real estate and energy.
Investor Verification Checklist
- Verify the total aggregate value of the portfolio by summing the "Value" column to assess total assets under management for this specific account.
- Confirm the voting authority status (Sole, Shared, None) for major holdings to understand the firm's active engagement level.
- Compare the specific share counts of top REIT and MLP holdings against prior quarter filings to identify net buying or selling activity.
- Review the "Other" column for any derivative positions or non-standard securities not immediately apparent in the "Title of Class" column.