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 September 30, 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
Total Portfolio Value: The filing lists individual security values but does not explicitly state a consolidated total portfolio value in the text provided. The aggregate value must be calculated by summing the "Value" column (Column 4) for all listed securities.
Top Holdings by Value (Selected):
- UDR Inc.: $37,700,137 (1,433,736 shares)
- HCP Inc.: $35,762,597 (995,273 shares)
- Healthcare Trust of America: $28,686,924 (854,870 shares)
- Host Hotels & Resorts Inc.: $27,652,027 (511,286 shares)
- GGP Inc.: $31,744,474 (659,333 shares)
- Cousins Properties Inc.: $59,173,443 (552,680 shares)
- Prologis Inc.: $16,928,810 (1,074,302 shares)
- Simon Property Group Inc.: $12,350,345 (1,988,529 shares)
Asset Class Focus: The portfolio is heavily concentrated in Real Estate Investment Trusts (REITs), including residential (UDR, Equity Residential), retail (Simon Property Group, GGP), healthcare (HCP, Healthcare Trust of America), and industrial (Prologis) sectors. There are also significant holdings in Energy MLPs (Master Limited Partnerships) and various closed-end funds.
Material Changes and Voting Authority
Voting Authority: For the vast majority of holdings, Cohen & Steers, Inc. reports "Sole" voting authority. Some positions (e.g., Alliant Energy, American Campus Communities) report "Shared" voting authority, indicated by footnote markers (1, 2).
Comparison to Prior Period: This filing is a snapshot of holdings as of September 30, 2017. It does not contain data regarding the prior quarter (June 30, 2017) within this specific text block; therefore, material changes in position size (buys/sells) cannot be determined from this document alone.
Guidance, Risks, and Contingencies
Management Commentary: Form 13F filings are regulatory disclosures of holdings and do not contain management commentary, forward-looking guidance, or strategic outlooks.
Risks and Contingencies: The filing includes a standard SEC disclaimer stating that the Commission has not reviewed the information for accuracy or completeness. No specific risk factors or contingencies related to the company's operations are disclosed in this format.
Investor Verification Checklist
- Portfolio Concentration: Verify the total aggregate value of the portfolio to assess the weight of the top REIT holdings relative to the total AUM.
- REIT Sector Exposure: Confirm the specific sub-sector exposure (Residential, Retail, Healthcare, Industrial) given the heavy weighting in REITs.
- Energy MLP Holdings: Review the specific Energy MLP positions (e.g., Enterprise Products Partners, Kinder Morgan) to understand exposure to the energy infrastructure sector.
- Derivatives and Options: Note that the "Put/Call" column is blank for all listed securities, indicating no reported options positions in this specific table.
- Shared Authority: Investigate the specific agreements for positions marked with "Shared" voting authority to understand co-investment structures.