CIK 1068829
Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2020-Q1. 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) | 66.79% | 25 |
| Unclassified | 24.21% | 15 |
| Real Estate Management & Development | 8.66% | 1 |
| Hotels, Restaurants & Leisure | 0.34% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | AMH | American Homes 4 Rent | Real Estate | 9.41% |
| 2 | INVH | Invitation Homes Inc. | Real Estate | 8.66% |
| 3 | APARTMENT INVT & MGMT CO | Unclassified | 7.68% | |
| 4 | EQIX | EQUINIX INC | Real Estate | 7.24% |
| 5 | CORESITE REALTY CORP | Unclassified | 6.93% | |
| 6 | ARE | ALEXANDRIA REAL ESTATE EQUITIES, INC. | Real Estate | 6.83% |
| 7 | DLR | DIGITAL REALTY TRUST, INC. | Real Estate | 5.87% |
| 8 | AVB | AVALONBAY COMMUNITIES INC | Real Estate | 5.65% |
| 9 | PLD | Prologis, Inc. | Real Estate | 5.42% |
| 10 | PSA | Public Storage | Real Estate | 3.26% |
27/42 names classified · sector 75.8% of weight · industry 75.8% · mkt cap 75.8%; 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: 75.8% of the book is sector-classified (unclassified names shown, never dropped).
Classified: 65.0% of book weight (23/31 names) · unclassified 35.0%: , ARE, BDN, VNQ, REG, REET, VNQI, PEB. 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 | AMHAMERICAN HOMES 4 RENT | 8,258,664 | $222M | 9.4% | ADD 30% |
| 2 | INVHINVITATION HOMES INC | 7,428,145 | $204M | 8.7% | ADD 437% |
| 3 | APARTMENT INVT & MGMT CO | 4,817,693 | $181M | 7.7% | ADD 32% |
| 4 | EQIXEQUINIX INC | 243,230 | $171M | 7.2% | ADD 65% |
| 5 | CORESITE REALTY CORP | 1,352,040 | $164M | 6.9% | ADD 56% |
| 6 | AREALEXANDRIA REAL ESTATE EQ IN | 994,012 | $161M | 6.8% | ADD 42% |
| 7 | DLRDIGITAL RLTY TR INC | 975,975 | $139M | 5.9% | TRIM −5% |
| 8 | AVBAVALONBAY CMNTYS INC | 862,258 | $133M | 5.6% | ADD 25% |
| 9 | PLDPROLOGIS INC. | 1,372,358 | $128M | 5.4% | TRIM −6% |
| 10 | PSAPUBLIC STORAGE OPER CO | 401,053 | $77M | 3.3% | ADD 50% |
| 11 | UDRUDR INC | 1,789,360 | $67M | 2.8% | NEW |
| 12 | BXPBXP INC | 682,170 | $62M | 2.6% | TRIM −18% |
| 13 | BDNBRANDYWINE RLTY TR | 5,537,465 | $60M | 2.6% | TRIM −26% |
| 14 | CPTCAMDEN PPTY TR | 629,570 | $57M | 2.4% | ADD 2588% |
| 15 | DOCHEALTHPEAK PROPERTIES INC | 1,916,055 | $53M | 2.2% | ADD 15% |
| 16 | VNQVANGUARD INDEX FDS | 533,200 | $42M | 1.8% | HOLD |
| 17 | DUKE REALTY CORP | 1,071,795 | $38M | 1.6% | ADD 40% |
| 18 | WELLWELLTOWER INC | 713,780 | $37M | 1.6% | ADD 49% |
| 19 | EQREQUITY RESIDENTIAL | 615,837 | $36M | 1.5% | TRIM −60% |
| 20 | DEIDOUGLAS EMMETT INC | 1,112,023 | $34M | 1.4% | TRIM −55% |
| 21 | REGREGENCY CTRS CORP | 680,070 | $31M | 1.3% | ADD 11% |
| 22 | VEREIT INC | 4,791,870 | $31M | 1.3% | NEW |
| 23 | CUBECUBESMART | 938,795 | $25M | 1.1% | TRIM −61% |
| 24 | CUZCOUSINS PPTYS INC | 815,149 | $24M | 1.0% | ADD 161% |
| 25 | FEDERAL REALTY INVS TR | 283,915 | $24M | 1.0% | ADD 6% |
| 26 | HUDSON PAC PPTYS INC | 850,234 | $21M | 0.9% | TRIM −61% |
| 27 | VTRVENTAS INC | 417,085 | $15M | 0.6% | TRIM −10% |
| 28 | REETISHARES TR | 635,100 | $13M | 0.6% | ADD 83% |
| 29 | COLUMBIA PPTY TR INC | 965,475 | $13M | 0.5% | ADD 2064% |
| 30 | SL GREEN RLTY CORP | 253,600 | $13M | 0.5% | TRIM −83% |
| 31 | EXREXTRA SPACE STORAGE INC | 132,865 | $12M | 0.5% | ADD 16% |
| 32 | VNQIVANGUARD INTL EQUITY INDEX F | 244,250 | $11M | 0.5% | TRIM −11% |
| 33 | ESSEssex Property Trust | 47,995 | $11M | 0.5% | ADD 39% |
| 34 | Weingarten Rlty Invs Common | 497,845 | $9M | 0.4% | TRIM −49% |
| 35 | SHOSUNSTONE HOTEL INVS INC NEW | 990,760 | $8M | 0.3% | ADD 208% |
| 36 | KRCKILROY RLTY CORP | 119,615 | $7M | 0.3% | ADD 3% |
| 37 | LIFE STORAGE INC | 73,735 | $7M | 0.3% | TRIM −30% |
| 38 | HSTHOST HOTELS & RESORTS INC | 584,410 | $6M | 0.3% | ADD 44% |
| 39 | SPGSIMON PPTY GROUP INC NEW | 77,375 | $5M | 0.2% | TRIM −43% |
| 40 | RETAIL PPTYS AMER INC | 468,575 | $3M | 0.1% | ADD 11% |
| 41 | PEBPEBBLEBROOK HOTEL TR | 90,510 | $1M | 0.1% | ADD 6% |
| 42 | TAUBMAN CTRS INC | 15,250 | $576,000 | 0.0% | NEW |
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