SEC Filing Summary: Form 13F-HR
Business Context and Reporting Period
Reporting Manager: Cohen & Steers Capital Management Inc.
Reporting Period: Quarter ended June 30, 2009.
Filing Date: August 14, 2009.
Report Type: 13F Combination Report (includes holdings reported by other managers).
Other Included Managers: Cohen & Steers Europe SA; Frank Russell Company.
Key Financial Metrics
Total Portfolio Value: $9,363,431,000 (approx. $9.36 billion).
Total Number of Holdings: 333 entries.
Asset Class Focus: The portfolio is heavily concentrated in Real Estate Investment Trusts (REITs), Utilities, and Closed-End Funds (CEFs), consistent with the manager's specialty in real assets and income strategies.
| Top 5 Holdings by Value | Value ($ Thousands) | Shares |
|---|---|---|
| Host Hotels & Resorts | 235,177 | 28,030,674 |
| Prologis | 212,860 | 26,409,353 |
| Simon Property Group | 765,976 | 14,893,566 |
| Vornado Realty Trust | 415,837 | 9,234,638 |
| Public Storage Inc | 463,111 | 7,072,533 |
Note: The table above lists the top holdings by reported value. Simon Property Group represents the largest single position by value ($765.9M).
Material Changes and Portfolio Composition
This filing is a snapshot of holdings as of June 30, 2009. As a Form 13F, it does not provide comparative data against the prior quarter (March 31, 2009) within the text itself; therefore, specific material changes in position size or new entries versus the prior period cannot be calculated from this document alone.
Notable Sector Exposure:
- Real Estate: Significant exposure to major REITs including Equity Residential, AvalonBay Communities, and Boston Properties.
- Utilities & Energy: Holdings in Duke Energy, Exelon, PG&E, and various MLPs (e.g., Enterprise Products, Magellan Midstream).
- Financials: Positions in Bank of America, JPMorgan Chase, and Wells Fargo.
Guidance, Risks, and Unusual Items
Guidance and Outlook: Form 13F filings are historical reports of holdings and do not contain management guidance, forward-looking statements, or earnings outlooks.
Risks and Contingencies: The filing does not disclose specific risk factors or contingencies. However, the concentration in real estate and financial sectors implies exposure to interest rate risk and economic cycle sensitivity relevant to the 2009 market environment.
Unusual Items: The report includes a mix of common stock, preferred stock, bonds, and partnership interests. Several holdings show "Shared" voting authority, indicating co-management or specific fund structures.
Investor Verification Checklist
- Portfolio Concentration: Verify the impact of the top 10 holdings (e.g., Simon Property Group, Public Storage, Vornado) on total portfolio volatility.
- REIT Valuation: Assess the valuation of the heavy real estate exposure given the market conditions of mid-2009.
- Derivatives and Options: Confirm if any of the 333 entries involve complex derivatives or options not fully detailed in the summary table.
- Other Managers: Review filings from "Cohen & Steers Europe SA" and "Frank Russell Company" to understand the full scope of the combined reporting entity.
- Liquidity: Evaluate the liquidity of the closed-end fund holdings (e.g., BlackRock, Eaton Vance, Nuveen series) included in the portfolio.