Business Context and Reporting Period
Company: Cohen & Steers, Inc.
Filing Type: Form 13F Information Table
Reporting Period: Quarter ended June 30, 2024
Business Context: This filing discloses the equity securities held by Cohen & Steers, Inc. as of the end of the reporting period. The portfolio is heavily concentrated in Real Estate Investment Trusts (REITs), infrastructure, and income-generating funds, consistent with the firm's investment strategy.
Key Financial Metrics and Portfolio Composition
Revenue, Profit, and Cash Flow: The filing text does not provide a clear value for revenue, profit, cash flow, or margins. Form 13F filings report holdings, not operating financial results.
Debt and Liquidity: The filing text does not provide a clear value for corporate debt or liquidity positions.
Portfolio Valuation: The document lists individual security values but does not explicitly state the total aggregate portfolio value in the text provided. However, significant individual positions include:
- Healthcare Realty Trust Inc.: $62,753,794
- Invitation Homes Inc.: $63,049,175
- VICI Properties Inc.: $50,309,067
- Welltower Inc.: $38,916,093
- Prologis Inc.: $33,946,722
Material Changes and Voting Authority
Voting Authority: The filing details the voting authority for each position, categorized as Sole, Shared, or None. A significant portion of the portfolio is held with "Sole" voting authority, while large positions in REITs and utilities often show "Shared" authority (e.g., Invitation Homes, VICI Properties, Welltower).
Material Changes: As this is a snapshot of holdings at a specific date, the filing text does not provide a clear value for changes versus the prior comparable period (e.g., net purchases or sales during the quarter).
Guidance, Outlook, and Risks
Guidance and Outlook: The filing text does not provide a clear value for management guidance, future outlook, or commentary.
Risks and Contingencies: The filing includes a standard disclaimer that the SEC has not reviewed the information for accuracy. The portfolio composition indicates exposure to interest rate sensitivity (via REITs and fixed-income funds) and sector-specific risks in real estate and infrastructure.
Important Facts for Investor Verification
- Top Holdings: Verify the concentration risk in the top 10 positions, which are predominantly REITs and real estate-related entities.
- Voting Rights: Confirm the extent of "Shared" voting authority in major positions, which may indicate co-investment or fund-of-fund structures.
- Derivatives: Note the presence of warrants (e.g., Net Power Inc.) and preferred stock positions (e.g., Bank of America, Wells Fargo) which carry different risk profiles than common equity.
- Missing Data: Acknowledge that this document does not contain the firm's own financial performance (revenue/profit) or total assets under management (AUM).