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, 2015
Context: This filing discloses the equity securities held by the investment manager at the end of the reporting period. It details the issuer, class of security, CUSIP, value, and voting authority for each holding.
Key Financial Metrics and Portfolio Composition
Revenue, Profit, and Cash Flow: The filing text does not provide revenue, profit, cash flow, or margin data for Cohen & Steers, Inc. Form 13F filings report portfolio holdings, not the operating financial results of the investment manager.
Portfolio Composition: The portfolio is heavily concentrated in Real Estate Investment Trusts (REITs), Master Limited Partnerships (MLPs), and preferred securities. Notable holdings include:
- Real Estate: Significant positions in UDR Inc. ($1.50B), Spirit Realty Capital ($523M), Vornado Realty Trust ($1.75B), and Equity Residential ($1.76B).
- Energy/MLPs: Large allocations to Enterprise Products Partners ($63.5M), Kinder Morgan ($59.3M), and Magellan Midstream Partners.
- Preferred Securities: Holdings in Barclays Bank PLC, National Westminster, and various REIT preferred shares.
Debt and Liquidity: The filing text does not provide data on the company's corporate debt or liquidity position.
Material Changes Versus Prior Period
The filing text does not provide a comparative table or narrative regarding changes in holdings versus the prior quarter. Consequently, material increases or decreases in specific positions cannot be determined from this document alone.
Guidance, Outlook, and Risks
Management Commentary: None provided in this filing. Form 13F is a statutory disclosure of holdings and does not contain management discussion or analysis.
Outlook and Risks: No forward-looking guidance or risk factors are disclosed in this specific document. The standard SEC disclaimer notes 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, as the filing lists individual positions but does not explicitly state the total portfolio value in the text provided.
- Confirm the breakdown of "Sole" vs. "Shared" voting authority to understand the extent of the manager's control over the reported assets.
- Cross-reference the "Other" voting authority column to identify any securities where the manager has no voting rights.
- Review the specific CUSIPs for preferred securities to ensure they match the intended investment strategy (e.g., high-yield vs. investment-grade).
- Check subsequent filings (13F-HR) for the following quarter to analyze turnover and trading activity.