UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 13F-HR
FORM 13F-HR COVER PAGE
Report for the Calendar Year or Quarter Ended: December 31, 2011
Check here if Amendment [_]; Amendment Number: ___________
This Amendment (Check only one): [_] is a restatement
[_] adds new holdings entries
Institutional Investment Manager Filing this Report:
Name: Brookfield Asset Management Inc.
Address: Brookfield Place
181 Bay Street, Suite 300
Toronto, Ontario M5J 2T3
Form 13F File Number: 028-14349
The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Brian Lawson
Title: Senior Managing Partner
Phone: 416-359-8601
Signature, Place, and Date of Signing:
/s/ Brian Lawson Toronto, CA 02/14/2012
_______________________ ________________________ _______________________
[Signature] [Place] [Date]
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager
are reported in this report.)
[_] 13F NOTICE. (Check here if no holdings reported are in this report, and all
holdings are reported by other reporting manager(s).)
[_] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this
reporting manager are reported in this report and a portion are reported by
other reporting manager(s).)
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 3
-----------
Form 13F Information Table Entry Total: 113
-----------
Form 13F Information Table Value Total: 11,948,209
-----------
(thousands)
Confidential information has been omitted from the form 13F and filed
separately with the Securities and Exchange Commission.
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
No. 13F File Number Name
--- --------------- ----
(1) 028-13826 Brookfield Investment Management Inc.
(2) 028-13827 AMP Capital Brookfield (US) LLC
(3) 028-14362 Brookfield Asset Management Private Institutional
Capital Adviser (Canada) LP
Brookfield Asset Management Inc.
FORM 13F
As of December 31, 2011
Voting Authority
------------------
Value Shares/ Sh/ Put/ Invstmt Other
Name of Issuer Title of class CUSIP (x$1000) Prn Amt Prn Call Dscretn Managers Sole Shared None
-------------- -------------- --------- -------- --------- --- ---- ------- -------- --------- ------ -------
Alexander's Inc COM 014752109 6024 16280 SH Defined (1)(2) 8300 7980
American Water
Works Co Inc COM 030420103 1217 38200 SH Defined (1)(2) 38200
Annaly Capital
Management
Inc COM 035710409 2956 185200 SH Defined (1)(2) 97500 87700
AT&T COM 00206R102 257 8500 SH Defined (1) 8500
AvalonBay
Communities
Inc COM 053484101 70221 537683 SH Defined (1)(2) 101646 436037
Avatar Holdings
Inc COM 053494100 4260 593305 SH Defined (1)(2) 353600 239705
B&G FOODS
INC COM 05508R106 481 20000 SH Defined (1) 20000
BANK
MONTREAL
QUE COM 063671101 192 3500 SH Defined 3500
BANK NOVA
SCOTIA
HALIFAX COM 064149107 174 3500 SH Defined 3500
BANK OF
AMERICA
CORPORATION COM 060505104 31155 5603500 SH Defined 5603500
BANK OF
AMERICA *W EXP
CORPORATION 10/28/201 060505153 140 450000 SH Defined 450000
Beazer Homes
USA Inc COM 07556Q105 3146 1268505 SH Defined (1)(2) 905278 363227
Boston
Properties Inc COM 101121101 98950 993469 SH Defined (1)(2) 196258 797211
Brandywine
Realty Trust COM 105368203 59806 6295352 SH Defined (1)(2) 1160457 5134895
BREITBURN
ENERGY
PARTNERS COM UT
LP LTD PTN 106776107 249 13075 SH Defined (1) 13075
Brookdale Senior
Living Inc COM 112463104 117803 6774155 SH Defined (1)(2) 1640064 5134091
BROOKDALE
SR LIVING
INC COM 112463104 1078 62000 SH Defined 62000
BROOKFIELD
INFRAST LP INT
PARTNERS UNIT G16252101 1355 48930 SH Defined 48930
Brookfield
Infrastructure LP INT
Part UNIT G16252101 2864 103400 SH Defined (1)(2) 103400
BROOKFIELD
OFFICE
PPTYS INC COM 112900105 3900030 249362561 SH Defined 249362561
BROOKFIELD
OFFICE
PPTYS INC COM 112900105 42857 2740186 SH Defined (1)(2) 395400 2344786
BROOKFIELD
RESIDENTIAL
PPTYS COM 11283W104 573981 73493112 SH Defined 73493112
Brookfield
Residential
Propert COM 11283W104 6066 776710 SH Defined (1)(2) 776710
Camden Property
Trust COM 133131102 56607 909494 SH Defined (1)(2) 173689 735805
CANADIAN
NAT RES
LTD COM 136385101 224 6000 SH Defined 6000
CDN IMPERIAL
BK OF
COMMERCE COM 136069101 166 2300 SH Defined 2300
CEDAR FAIR L DEPOSITRY
P UNIT 150185106 1046 48639 SH Defined 48639
CEMEX SAB SPON ADR
DE CV NEW 151290889 3778 701000 SH Defined 701000
CenterPoint
Energy Inc COM 15189T107 2050 102040 SH Defined (1)(2) 102040
CENTURYLINK
INC COM 156700106 353 9500 SH Defined (1) 9500
China Real
Estate
Information COM 16948Q103 1968 485900 SH Defined (1)(2) 218000 267900
CITIGROUP
INC COM NEW 172967424 27868 1059200 SH Defined 1059200
CommonWealth
REIT COM 203233101 5791 348000 SH Defined (1)(2) 137000 211000
Commonwealth
REIT 6.50% 6.50% PFD
Serie CUM CO 203233408 5748 283300 SH Defined (1)(2) 283300
Coresite Realty
Corp COM 21870Q105 16382 919320 SH Defined (1)(2) 286120 633200
Corporate Office
Properties Tr COM 22002T108 86049 4047468 SH Defined (1)(2) 942300 3105168
Voting Authority
----------------
Value Shares/ Sh/ Put/ Invstmt Other
Name of Issuer Title of class CUSIP (x$1000) Prn Amt Prn Call Dscretn Managers Sole Shared None
-------------- -------------- --------- -------- --------- --- ---- --------- -------- ------- --------- -------
Crosstex Energy Inc COM 22765Y104 578 45700 SH Defined (1)(2) 45700
CROSSTEX
ENERGY LP COM 22765U102 127 7800 SH Defined (1) 7800
Crown Castle
International Cor COM 228227104 3671 81950 SH Defined (1)(2) 81950
D R HORTON INC COM 23331A109 123 9750 SH Defined 9750
DDR Corp COM 23317H102 60365 4960179 SH Defined (1)(2) 893100 4067079
DIANA
CONTAINERSHIPS
INC COM Y2069P101 9 1627 SH Defined 1627
DIANA SHIPPING
INC COM Y2066G104 374 50000 SH Defined 50000
Digital Realty Trust
Inc COM 253868103 5562 83427 SH Defined (1)(2) 83427
Douglas Emmett Inc COM 25960P109 53784 2948677 SH Defined (1)(2) 604800 2343877
EastGroup Properties
Inc COM 277276101 19044 438000 SH Defined (1)(2) 159000 279000
El Paso Corp COM 28336L109 3696 139100 SH Defined (1)(2) 139100
Emeritus Corp COM 291005106 14047 802237 SH Defined (1)(2) 331100 471137
Enbridge Inc COM 29250N105 4969 133243 SH Defined (1)(2) 133243
Energy Transfer
Equity LP COM 29273V100 1169 28800 SH Defined (1)(2) 28800
Enterprise Products
Partners L COM 293792107 1020 22000 SH Defined (1)(2) 22000
Entertainment PPTYS PFD C
TR CNV
5.75% 29380T402 1142 59400 SH Defined (1)(2) 59400
Equity Lifestyle
Properties In COM 29472R108 34718 520592 SH Defined (1)(2) 99600 420992
Equity Residential COM 29476L107 51750 907422 SH Defined (1)(2) 115300 792122
Essex Property Trust
Inc COM 297178105 56583 402700 SH Defined (1)(2) 69700 333000
FRONTIER
COMMUNICATIONS
CORP COM 35906A108 495 96075 SH Defined (1) 96075
GENERAL
GROWTH PPTYS
INC NEW COM 370023103 5342975 355724031 SH Defined (3) 355724031
General Growth
Properties Inc COM 370023103 96338 6413995 SH Defined (1)(2) 1357547 5056448
GENERAL MOTORS
CO COM 37045V100 12338 608682 SH Defined 608682
GENERAL MOTORS *W EXP
CO 07/10/201 37045V118 109 9254 SH Defined 9254
GENERAL MOTORS *W EXP
CO 07/10/201 37045V126 72 9254 SH Defined 9254
GENERAL MOTORS
CO COM 37045V100 12894 636126 SH Defined (1) 636126
GENERAL MOTORS *W EXP
CO 07/10/201 37045V118 401 34206 SH Defined (1) 34206
GENERAL MOTORS *W EXP
CO 07/10/201 37045V126 267 34206 SH Defined (1) 34206
GENERAL MTRS CO *W EXP
07/10/201 37045V126 1216 60000 SH Defined 60000
Health Care REIT Inc COM 42217K106 76913 1410468 SH Defined (1)(2) 243100 1167368
HOWARD HUGHES
CORP COM 44267D107 107095 2424618 SH Defined (3) 2424618
HUNTSMAN CORP COM 447011107 1219 121871 SH Defined (1) 121871
ITC Holdings Corp COM 465685105 1776 23400 SH Defined (1)(2) 23400
JPMORGAN CHASE
& CO COM 46625H100 24289 730500 SH Defined 730500
JPMORGAN CHASE *W EXP
& CO 10/28/201 46634E114 850 100000 SH Defined 100000
KB Home COM 48666K109 6009 894200 SH Defined (1)(2) 377200 517000
LAS VEGAS SANDS
CORP COM 517834107 1043 24400 SH Defined 24400
LENNAR CORP CL A 526057104 197 10000 SH Defined 10000
LENNAR CORP CL B 526057302 481 30870 SH Defined 30870
Lennar Corp CL A 526057104 46377 2360162 SH Defined (1)(2) 587000 1773162
LENNAR
CORPORATION CL B 526057302 481 30870 SH Defined (1) 30870
LOWES COS INC COM 548661107 1053 41500 SH Defined 41500
MarkWest Energy UNIT
Partners LP LTD
PARTN 570759100 1057 19200 SH Defined (1)(2) 19200
MITEL NETWORKS
CORP COM 60671Q104 1240 389800 SH Defined 389800
NISKA GAS UNIT
STORAGE LTD
PARTNERS LLC LIABI 654678101 111 12500 SH Defined (1) 12500
NORTH AMERN
ENERGY
PARTNERS COM 656844107 4545 705698 SH Defined 705698
Voting Authority
---------------
Value Shares/ Sh/ Put/ Invstmt Other
Name of Issuer Title of class CUSIP (x$1000) Prn Amt Prn Call Dscretn Managers Sole Shared None
-------------- -------------- --------- -------- ------- --- ---- ------- -------- ------ ------ -------
Northeast Utilities COM 664397106 458 12700 SH Defined (1)(2) 12700
NorthWestern Corp COM 668074305 533 14900 SH Defined (1)(2) 14900
Oneok Inc COM 682680103 1994 23000 SH Defined (1)(2) 23000
Parkway Properties Inc/
Md COM 70159Q104 10338 1048454 SH Defined (1)(2) 538700 509754
Pennsylvania Real
Estate Inves COM 709102107 10527 1008351 SH Defined (1)(2) 409900 598451
ProLogis COM 74340W103 91435 3198155 SH Defined (1)(2) 567100 2631055
Provident Energy Ltd COM 74386V100 471 48600 SH Defined (1)(2) 48600
Public Storage COM 74460D109 130161 968028 SH Defined (1)(2) 181628 786400
Ramco-Gershenson PERP
PPTYS TR PFD-
D CV 751452608 3283 77000 SH Defined (1)(2) 77000
Rayonier Inc COM 754907103 41793 936431 SH Defined (1)(2) 159931 776500
ROYAL BK CDA
MONTREAL QUE COM 780087102 255 5000 SH Defined 5000
RYLAND GROUP
INC COM 783764103 303 19250 SH Defined 19250
SBA Communications
Corp COM 78388J106 2264 52700 SH Defined (1)(2) 52700
Sempra Energy COM 816851109 390 7100 SH Defined (1)(2) 7100
Simon Property Group
Inc COM 828806109 233903 1814048 SH Defined (1)(2) 320147 1493901
SL Green Realty Corp COM 78440X101 65316 980126 SH Defined (1)(2) 280900 699226
Spectra Energy Corp COM 847560109 5115 166330 SH Defined (1)(2) 166330
Starwood Hotels &
Resorts Worl COM 85590A401 55118 1149000 SH Defined (1)(2) 255600 893400
Sunstone Hotel INV CV
INC 8%
CUM
PFD-
D 867892507 3225 142400 SH Defined (1)(2) 73400 69000
Targa Resources Corp COM 87612G101 1363 33500 SH Defined (1)(2) 33500
TECK RESOURCES
LTD CL B 878742204 2562 72800 SH Defined 72800
TECUMSEH PRODS
CO CL B 878895101 2225 500000 SH Defined 500000
TORONTO
DOMINION BK
ONT COM 891160509 322 4300 SH Defined 4300
TRANSCANADA
CORP COM 89353D107 393 9000 SH Defined 9000
TransCanada Corp COM 89353D107 2277 52213 SH Defined (1)(2) 52213
Ventas Inc COM 92276F100 89409 1621792 SH Defined (1)(2) 308800 1312992
VERIZON
COMMUNICATIONS
INC COM 92343V104 301 7500 SH Defined (1) 7500
Vornado Realty Trust SH
BEN
INT 929042109 1960 25500 SH Defined (1)(2) 25500
Weingarten Realty SH
Investors BEN
INT 948741103 1183 54200 SH Defined (1)(2) 54200
Williams Cos Inc/The COM 969457100 822 24900 SH Defined (1)(2) 24900
WINDSTREAM CORP COM 97381W104 645 54900 SH Defined (1) 54900