CIK 1033984
Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.
As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).
Computing…
Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.
| Industry group | Weight | Names |
|---|---|---|
| Equity Real Estate Investment Trusts (REITs) | 64.66% | 55 |
| Utilities | 31.65% | 28 |
| Real Estate Management & Development | 0.93% | 4 |
| Commercial Services & Supplies | 0.92% | 1 |
| Hotels, Restaurants & Leisure | 0.92% | 3 |
| Road & Rail | 0.50% | 2 |
| Unclassified | 0.43% | 3 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | WELL | WELLTOWER INC. | Real Estate | 8.81% |
| 2 | EQIX | EQUINIX INC | Real Estate | 7.68% |
| 3 | PLD | Prologis, Inc. | Real Estate | 4.28% |
| 4 | SPG | SIMON PROPERTY GROUP INC. | Real Estate | 3.34% |
| 5 | XEL | XCEL ENERGY INC | Utilities | 3.06% |
| 6 | AMT | AMERICAN TOWER CORP /MA/ | Real Estate | 2.84% |
| 7 | PEG | PUBLIC SERVICE ENTERPRISE GROUP INC | Utilities | 2.64% |
| 8 | PPL | PPL Corp | Utilities | 2.62% |
| 9 | WEC | WEC ENERGY GROUP, INC. | Utilities | 2.36% |
| 10 | VTR | Ventas, Inc. | Real Estate | 2.29% |
93/96 names classified · sector 99.6% of weight · industry 99.6% · mkt cap 99.4%; unclassified names shown, never dropped.
Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 99.6% of the book is sector-classified (unclassified names shown, never dropped).
Classified: 95.7% of book weight (87/95 names) · unclassified 4.3%: STAG, REG, SKT, , JAN, BIP, ARE, PDM. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.
No contribution data for this period.
| # | Security | Shares | Value | Weight | Δ QoQ |
|---|---|---|---|---|---|
| 1 | WELLWELLTOWER INC | 3,006,833 | $594M | 8.8% | TRIM −7% |
| 2 | EQIXEQUINIX INC | 528,634 | $518M | 7.7% | TRIM −10% |
| 3 | PLDPROLOGIS INC. | 2,183,891 | $289M | 4.3% | HOLD |
| 4 | SPGSIMON PPTY GROUP INC NEW | 1,209,585 | $226M | 3.3% | TRIM −6% |
| 5 | XELXCEL ENERGY INC | 2,597,721 | $206M | 3.1% | ADD 12% |
| 6 | AMTAMERICAN TOWER CORP | 1,110,227 | $192M | 2.8% | ADD 41% |
| 7 | PEGPUBLIC SVC ENTERPRISE GROUP | 2,201,156 | $178M | 2.6% | ADD 13% |
| 8 | PPLPPL CORP | 4,619,677 | $176M | 2.6% | ADD 34% |
| 9 | WECWEC ENERGY GROUP INC | 1,376,051 | $159M | 2.4% | ADD 3% |
| 10 | VTRVENTAS INC | 1,890,027 | $155M | 2.3% | ADD 2% |
| 11 | EGPEASTGROUP PPTYS INC | 791,418 | $146M | 2.2% | ADD 11% |
| 12 | VICIVICI PPTYS INC | 5,346,551 | $146M | 2.2% | TRIM −24% |
| 13 | LNGCheniere Energy, Inc | 509,690 | $145M | 2.1% | TRIM −33% |
| 14 | BRXBRIXMOR PPTY GROUP INC | 4,915,727 | $142M | 2.1% | TRIM −8% |
| 15 | ATOATMOS ENERGY CORP | 757,953 | $140M | 2.1% | ADD 43% |
| 16 | ETRENTERGY CORP NEW | 1,231,965 | $138M | 2.1% | TRIM −30% |
| 17 | FRFIRST INDL RLTY TR INC | 2,228,576 | $129M | 1.9% | TRIM −5% |
| 18 | IRMIRON MTN INC DEL | 1,237,915 | $126M | 1.9% | TRIM −14% |
| 19 | PCGPG&E CORP | 6,835,122 | $120M | 1.8% | HOLD |
| 20 | CEGCONSTELLATION ENERGY CORP | 415,038 | $116M | 1.7% | ADD 86% |
| 21 | STAGSTAG INDL INC | 3,170,619 | $114M | 1.7% | TRIM −12% |
| 22 | EVRGEVERGY INC | 1,389,642 | $114M | 1.7% | NEW |
| 23 | CUBECUBESMART | 3,094,291 | $113M | 1.7% | TRIM −11% |
| 24 | CMSCMS ENERGY CORP | 1,332,742 | $103M | 1.5% | TRIM −10% |
| 25 | AEPAMERICAN ELEC PWR CO INC | 751,551 | $99M | 1.5% | NEW |
| 26 | REGREGENCY CTRS CORP | 1,265,357 | $96M | 1.4% | TRIM −33% |
| 27 | EQREQUITY RESIDENTIAL | 1,551,526 | $92M | 1.4% | ADD 123% |
| 28 | AMHAMERICAN HOMES 4 RENT | 3,251,430 | $91M | 1.3% | TRIM −33% |
| 29 | OGEOGE ENERGY CORP | 1,815,118 | $87M | 1.3% | TRIM −18% |
| 30 | UDRUDR INC | 2,536,006 | $86M | 1.3% | TRIM −46% |
| 31 | TRGPTARGA RES CORP | 335,913 | $84M | 1.2% | TRIM −46% |
| 32 | OREALTY INCOME CORP | 1,352,780 | $83M | 1.2% | ADD 197% |
| 33 | DLRDIGITAL RLTY TR INC | 444,106 | $80M | 1.2% | ADD 79% |
| 34 | OHIOMEGA HEALTHCARE INVS INC | 1,760,382 | $77M | 1.1% | TRIM −21% |
| 35 | CPTCAMDEN PPTY TR | 771,158 | $75M | 1.1% | ADD 187% |
| 36 | SOSOUTHERN CO | 745,127 | $72M | 1.1% | ADD 303% |
| 37 | SUISUN CMNTYS INC | 536,746 | $68M | 1.0% | ADD 105% |
| 38 | EPRTESSENTIAL PPTYS RLTY TR INC | 2,203,346 | $67M | 1.0% | ADD 45% |
| 39 | GLPIGAMING & LEISURE P | 1,472,552 | $65M | 1.0% | ADD 2122% |
| 40 | AESAES Corp. | 4,399,061 | $62M | 0.9% | TRIM −44% |
| 41 | PSAPUBLIC STORAGE OPER CO | 219,284 | $59M | 0.9% | TRIM −34% |
| 42 | AHRAMERICAN HEALTHCARE REIT INC | 1,258,041 | $59M | 0.9% | TRIM −16% |
| 43 | CCICROWN CASTLE INC | 562,049 | $46M | 0.7% | TRIM −21% |
| 44 | GTYGETTY RLTY CORP NEW | 1,369,988 | $44M | 0.6% | ADD 71% |
| 45 | DOCHEALTHPEAK PROPERTIES INC | 2,543,209 | $42M | 0.6% | TRIM −55% |
| 46 | VNOVORNADO RLTY TR | 1,408,289 | $37M | 0.5% | TRIM −9% |
| 47 | SHOSUNSTONE HOTEL INVS INC NEW | 3,961,704 | $36M | 0.5% | TRIM −10% |
| 48 | UNPUNION PAC CORP | 136,000 | $33M | 0.5% | TRIM −84% |
| 49 | CPKCHESAPEAKE UTILS CORP | 256,816 | $32M | 0.5% | ADD 27% |
| 50 | OGSONE GAS INC | 371,334 | $32M | 0.5% | NEW |
| 51 | CWTCALIFORNIA WTR SVC GROUP | 647,515 | $29M | 0.4% | TRIM −10% |
| 52 | AWKAMERICAN WTR WKS CO INC NEW | 201,190 | $27M | 0.4% | ADD 839% |
| 53 | CUZCOUSINS PPTYS INC | 1,209,915 | $27M | 0.4% | ADD 29% |
| 54 | SKTTANGER INC | 789,381 | $27M | 0.4% | TRIM −22% |
| 55 | OKEONEOK INC NEW | 292,800 | $26M | 0.4% | HOLD |
| 56 | EXREXTRA SPACE STORAGE INC | 194,962 | $26M | 0.4% | TRIM −41% |
| 57 | BXPBXP INC | 490,192 | $25M | 0.4% | TRIM −21% |
| 58 | HLTHILTON WORLDWIDE HLDGS INC | 82,796 | $25M | 0.4% | ADD 124% |
| 59 | AVBAVALONBAY CMNTYS INC | 143,874 | $24M | 0.3% | TRIM −13% |
| 60 | DDOMINION ENERGY INC | 369,494 | $23M | 0.3% | HOLD |
| 61 | REXRREXFORD INDL RLTY INC | 605,214 | $20M | 0.3% | HOLD |
| 62 | FRTFEDERAL RLTY INVT TR NEW | 174,882 | $19M | 0.3% | ADD 65% |
| 63 | ELSEQUITY LIFESTYLE PPTYS INC | 292,716 | $18M | 0.3% | ADD 664% |
| 64 | HSTHOST HOTELS & RESORTS INC | 881,580 | $17M | 0.3% | TRIM −59% |
| 65 | LAMRLAMAR ADVERTISING CO | 125,028 | $16M | 0.2% | ADD 6% |
| 66 | MAAMID-AMER APT CMNTYS INC | 129,562 | $16M | 0.2% | NEW |
| 67 | ESSEssex Property Trust | 60,685 | $15M | 0.2% | TRIM −6% |
| 68 | CSRCENTERSPACE | 231,462 | $13M | 0.2% | ADD 353% |
| 69 | IRTINDEPENDENCE RLTY TR INC | 868,848 | $13M | 0.2% | TRIM −54% |
| 70 | JANJANUS LIVING INC | 527,940 | $12M | 0.2% | NEW |
| 71 | BNLBROADSTONE NET LEASE INC | 670,318 | $12M | 0.2% | ADD 476% |
| 72 | WTRGESSENTIAL UTILS INC | 301,609 | $12M | 0.2% | TRIM −85% |
| 73 | BIPBROOKFIELD INFRAST PARTNERS | 310,500 | $11M | 0.2% | TRIM −26% |
| 74 | INVHINVITATION HOMES INC | 435,438 | $11M | 0.2% | TRIM −75% |
| 75 | PEBBLEBROOK HOTEL TR | 541,950 | $10M | 0.2% | HOLD |
| 76 | EPREPR PPTYS | 186,519 | $9M | 0.1% | NEW |
| 77 | XIFRXPLR INFRASTRUCTURE LP | 794,852 | $8M | 0.1% | HOLD |
| 78 | AREALEXANDRIA REAL ESTATE EQ IN | 178,107 | $8M | 0.1% | HOLD |
| 79 | PEBBLEBROOK HOTEL TR | 383,644 | $7M | 0.1% | HOLD |
| 80 | COLDAMERICOLD REALTY TRUST INC | 600,397 | $7M | 0.1% | TRIM −20% |
| 81 | LINELINEAGE INC | 171,316 | $6M | 0.1% | HOLD |
| 82 | NTSTNETSTREIT CORP | 271,274 | $5M | 0.1% | TRIM −46% |
| 83 | PDMPIEDMONT REALTY TRUST INC | 762,121 | $5M | 0.1% | TRIM −7% |
| 84 | SBACSBA COMMUNICATIONS CORP NEW | 24,384 | $4M | 0.1% | TRIM −6% |
| 85 | CURBCURBLINE PPTYS CORP | 139,113 | $4M | 0.1% | NEW |
| 86 | ESRTEMPIRE ST RLTY TR INC | 687,840 | $4M | 0.1% | TRIM −41% |
| 87 | CDPCOPT DEFENSE PROPERTIES | 107,503 | $3M | 0.0% | TRIM −89% |
| 88 | NEENEXTERA ENERGY INC | 31,592 | $3M | 0.0% | TRIM −96% |
| 89 | LXPLXP INDUSTRIAL TRUST | 51,192 | $2M | 0.0% | TRIM −93% |
| 90 | WYWEYERHAEUSER CO | 60,100 | $1M | 0.0% | TRIM −9% |
| 91 | WMBWILLIAMS COS INC | 16,327 | $1M | 0.0% | ADD 25% |
| 92 | MARMARRIOTT INTL INC NEW | 2,792 | $913,179 | 0.0% | TRIM −47% |
| 93 | AEEAMEREN CORP | 7,279 | $800,108 | 0.0% | ADD 20% |
| 94 | NSCNORFOLK SOUTHN CORP | 2,368 | $679,616 | 0.0% | TRIM −17% |
| 95 | CNPCENTERPOINT ENERGY INC | 7,389 | $318,909 | 0.0% | TRIM −99% |
| 96 | KMIKINDER MORGAN INC DEL | 6,251 | $209,596 | 0.0% | NEW |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| WELLWELLTOWER INC | 1.9M | 3.0M | 3.3M | 3.0M | 3.2M | 3.0M | $594M |
| EQIXEQUINIX INC | 463K | 428K | 486K | 555K | 589K | 529K | $518M |
| PLDPROLOGIS INC. | 1.3M | 1.8M | 1.6M | 2.1M | 2.2M | 2.2M | $289M |
| SPGSIMON PPTY GROUP INC NEW | 1.6M | 1.8M | 1.6M | 1.4M | 1.3M | 1.2M | $226M |
| XELXCEL ENERGY INC | 1.1M | 1.5M | 1.5M | 2.0M | 2.3M | 2.6M | $206M |
| AMTAMERICAN TOWER CORP | 770K | 608K | 799K | 664K | 789K | 1.1M | $192M |
| PEGPUBLIC SVC ENTERPRISE GROUP | — | 830K | 1.4M | 1.4M | 1.9M | 2.2M | $178M |
| PPLPPL CORP | 2.0M | 2.5M | 3.6M | 4.3M | 3.5M | 4.6M | $176M |
| WECWEC ENERGY GROUP INC | 1.3M | 1.1M | 1.1M | 1.2M | 1.3M | 1.4M | $159M |
| VTRVENTAS INC | 300K | 377K | 905K | 1.8M | 1.9M | 1.9M | $155M |
| EGPEASTGROUP PPTYS INC | 54K | 621K | 814K | 677K | 711K | 791K | $146M |
| VICIVICI PPTYS INC | 1.7M | 2.5M | 5.6M | 5.7M | 7.1M | 5.3M | $146M |
| LNGCheniere Energy, Inc | — | — | 297K | 548K | 761K | 510K | $145M |
| BRXBRIXMOR PPTY GROUP INC | 3.0M | 2.6M | 4.2M | 4.5M | 5.3M | 4.9M | $142M |
| ATOATMOS ENERGY CORP | 462K | 544K | 674K | 734K | 529K | 758K | $140M |
Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.
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