Business Context and Reporting Period
This Form 13F-HR is a quarterly holdings report filed by Brookfield Asset Management Inc. (Institutional Investment Manager) for the period ended March 31, 2013. The report covers the equity securities held by the manager and two other included managers: Brookfield Investment Management Inc. and Brookfield Asset Management Private Institutional Capital Adviser (Canada) LP.
Key Financial Metrics
As this is a Form 13F filing, it reports portfolio holdings rather than the operating financial results (revenue, profit, cash flow) of Brookfield Asset Management itself. The following metrics reflect the reported portfolio:
- Total Portfolio Value: $10,482,764,000 (approx. $10.48 billion).
- Total Number of Holdings: 176 entries.
- Top Holdings by Value:
- General Growth Properties Inc: $3,576,627,640
- Rouse Properties Inc: $2,658,060,300
- Williams Cos Inc: $2,463,900,000
- Iron Mountain Inc: $2,645,235,000
- TransCanada Corp: $1,711,480,000
- Debt and Liquidity: Not applicable. Form 13F does not disclose the manager's corporate debt, cash flow, or liquidity positions.
Material Changes Versus Prior Period
The filing text provided does not contain comparative data from the prior quarter (December 31, 2012). Therefore, material changes in holdings, buy/sell activity, or portfolio composition cannot be determined from this document alone.
Guidance, Outlook, and Risks
Guidance and Outlook: Form 13F filings are historical snapshots of holdings and do not contain management commentary, earnings guidance, or future outlooks.
Risks and Contingencies: The filing does not disclose specific risk factors or contingencies. However, the portfolio composition indicates significant exposure to:
- Real Estate Investment Trusts (REITs): Heavy concentration in property and infrastructure (e.g., General Growth Properties, Rouse Properties, Simon Property Group).
- Energy and Midstream: Significant holdings in energy infrastructure and services (e.g., Williams Cos, Kinder Morgan, Spectra Energy).
- Financials: Exposure to major banks (e.g., Bank of America, Citigroup, JPMorgan Chase).
Important Facts for Investor Verification
- Portfolio Concentration: The top two holdings (General Growth Properties and Rouse Properties) represent approximately 60% of the total reported portfolio value ($6.23 billion of $10.48 billion).
- Reporting Scope: This report aggregates holdings for three distinct managers under the Brookfield umbrella.
- Non-Operating Data: Investors seeking Brookfield Asset Management's own revenue, profit margins, or debt levels must consult the company's 10-K or 10-Q filings, as this 13F only lists external equity investments.
- Discretionary Authority: The manager reports "Defined" voting authority for the vast majority of holdings, indicating direct control over voting rights for these positions.