SEC Form 13F Summary: BROOKFIELD Corp
Business Context and Reporting Period
This filing is a Form 13F Information Table submitted by BROOKFIELD Corp for the reporting period ending September 30, 2019. The document discloses the company's holdings in equity securities, including common stock, warrants, and derivative positions (puts and calls), as required by the Securities and Exchange Commission.
Key Financial Metrics and Holdings
The filing details specific investment positions rather than the company's consolidated financial performance (revenue, profit, or cash flow). Key metrics disclosed include:
- Investment Value: Reported in thousands of dollars (Column 4).
- Share Quantity: Reported in shares or principal amount (Column 5).
- Voting Authority: Classified as Sole, Shared, or None.
- Discretion: Classified as Discretionary (DFND) or Sole.
Notable Positions by Value (Selected):
| Issuer | Security Type | Value ($000s) | Shares/Units |
|---|---|---|---|
| Teekay Offshore Partners LP | Partnership Units | 232,454 | 262,607,628 |
| GrafTech International Ltd | Common Stock | 3,621,939 | 229,440,087 |
| Brookfield Property Partners LP | LP Units | 1,658,995 | 81,723,887 |
| Brookfield Renewable Partners LP | LP Units | 2,277,521 | 56,068,944 |
| Brookfield Business Partners LP | LP Units | 973,773 | 24,784,250 |
| SPDR S&P 500 ETF TR | Call Option | 445,155 | 1,500,000 |
| SPDR S&P 500 ETF TR | Put Option | 292,318 | 985,000 |
Material Changes and Derivative Activity
The filing does not provide comparative data against the prior quarter (June 30, 2019) to calculate material changes in holdings. However, the presence of significant derivative positions indicates active risk management or hedging strategies:
- Put Options: Held on Invesco QQQ Trust, iShares 20 Year Treasury Bond ETF, Select Sector SPDR Trust (Financials), and SPDR S&P 500 ETF.
- Call Options: Held on Kraton Corp and SPDR S&P 500 ETF.
- Warrants: Significant position in NESCO Holdings Inc warrants (1,613,450 units).
Guidance, Outlook, and Risks
Management Commentary: This filing type does not contain management commentary, forward-looking guidance, or strategic outlook.
Risks and Contingencies: The filing includes a standard SEC disclaimer stating that the Commission has not reviewed the information for accuracy or completeness. The filing text does not provide specific details on litigation, contingencies, or operational risks.
Investor Verification Checklist
- Verify the total aggregate value of the portfolio by summing all "Value" columns, noting that some entries may represent partial holdings or specific tranches.
- Confirm the voting authority status for the large positions in affiliated entities (e.g., Brookfield Property Partners, Brookfield Renewable Partners) to understand control dynamics.
- Review the expiration dates and strike prices of the listed Put and Call options (not provided in this text) to assess the specific hedging strategy.
- Compare these holdings against the previous quarter's Form 13F to identify net buys or sells, as this document only provides a snapshot for September 30, 2019.
- Investigate the "DFND" (Discretionary) vs. "SOLE" classifications to determine which assets are managed by external managers versus internal teams.