CIK 1080117
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) | 96.17% | 49 |
| Real Estate Management & Development | 2.90% | 4 |
| Hotels, Restaurants & Leisure | 0.88% | 2 |
| Unclassified | 0.05% | 2 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | WELL | WELLTOWER INC. | Real Estate | 11.59% |
| 2 | EQIX | EQUINIX INC | Real Estate | 9.70% |
| 3 | PLD | Prologis, Inc. | Real Estate | 9.34% |
| 4 | O | REALTY INCOME CORP | Real Estate | 5.24% |
| 5 | SPG | SIMON PROPERTY GROUP INC. | Real Estate | 4.42% |
| 6 | VTR | Ventas, Inc. | Real Estate | 4.24% |
| 7 | EQR | EQUITY RESIDENTIAL | Real Estate | 3.75% |
| 8 | DLR | DIGITAL REALTY TRUST, INC. | Real Estate | 3.65% |
| 9 | EXR | Extra Space Storage Inc. | Real Estate | 3.01% |
| 10 | FR | FIRST INDUSTRIAL REALTY TRUST INC | Real Estate | 2.47% |
55/57 names classified · sector 100.0% of weight · industry 100.0% · mkt cap 98.9%; 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: 100.0% of the book is sector-classified (unclassified names shown, never dropped).
Classified: 94.1% of book weight (48/56 names) · unclassified 5.9%: STAG, MAC, JAN, SLG, WPC, ARE, , 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 | WELLWELLTOWER INC | 815,770 | $161M | 11.6% | TRIM −9% |
| 2 | EQIXEQUINIX INC | 137,590 | $135M | 9.7% | HOLD |
| 3 | PLDPROLOGIS INC. | 982,653 | $130M | 9.3% | TRIM −4% |
| 4 | OREALTY INCOME CORP | 1,191,070 | $73M | 5.2% | ADD 61% |
| 5 | SPGSIMON PPTY GROUP INC NEW | 329,763 | $62M | 4.4% | TRIM −9% |
| 6 | VTRVENTAS INC | 721,474 | $59M | 4.2% | TRIM −19% |
| 7 | EQREQUITY RESIDENTIAL | 882,051 | $52M | 3.8% | ADD 16% |
| 8 | DLRDIGITAL RLTY TR INC | 282,108 | $51M | 3.7% | ADD 23% |
| 9 | EXREXTRA SPACE STORAGE INC | 319,132 | $42M | 3.0% | ADD 107% |
| 10 | FRFIRST INDL RLTY TR INC | 593,292 | $34M | 2.5% | ADD 15% |
| 11 | ESSEssex Property Trust | 139,229 | $34M | 2.4% | ADD 6% |
| 12 | NTSTNETSTREIT CORP | 1,710,978 | $32M | 2.3% | ADD 23% |
| 13 | PSAPUBLIC STORAGE OPER CO | 104,211 | $28M | 2.0% | TRIM −39% |
| 14 | MAAMID-AMER APT CMNTYS INC | 225,761 | $28M | 2.0% | TRIM −41% |
| 15 | IRMIRON MTN INC DEL | 259,594 | $27M | 1.9% | TRIM −47% |
| 16 | DOCHEALTHPEAK PROPERTIES INC | 1,610,660 | $26M | 1.9% | ADD 15% |
| 17 | AKRACADIA RLTY TR | 1,314,130 | $25M | 1.8% | TRIM −35% |
| 18 | DRHDIAMONDROCK HOSPITALITY CO | 2,674,549 | $25M | 1.8% | NEW |
| 19 | STAGSTAG INDL INC | 685,313 | $25M | 1.8% | TRIM −25% |
| 20 | CUZCOUSINS PPTYS INC | 987,606 | $22M | 1.6% | TRIM −12% |
| 21 | SUISUN CMNTYS INC | 172,292 | $22M | 1.6% | ADD 141% |
| 22 | MACMACERICH CO | 1,135,006 | $21M | 1.5% | NEW |
| 23 | CUBECUBESMART | 546,263 | $20M | 1.4% | TRIM −35% |
| 24 | OHIOMEGA HEALTHCARE INVS INC | 447,459 | $20M | 1.4% | TRIM −4% |
| 25 | INVHINVITATION HOMES INC | 744,823 | $19M | 1.3% | TRIM −36% |
| 26 | CURBCURBLINE PPTYS CORP | 661,287 | $17M | 1.2% | NEW |
| 27 | VICIVICI PPTYS INC | 618,249 | $17M | 1.2% | NEW |
| 28 | FRTFEDERAL RLTY INVT TR NEW | 158,933 | $17M | 1.2% | ADD 4004% |
| 29 | JANJANUS LIVING INC | 623,892 | $15M | 1.1% | NEW |
| 30 | OUTOUTFRONT MEDIA INC | 553,689 | $15M | 1.1% | TRIM −5% |
| 31 | CTOCTO RLTY GROWTH INC NEW | 742,696 | $14M | 1.0% | ADD 5% |
| 32 | AVBAVALONBAY CMNTYS INC | 79,983 | $13M | 0.9% | ADD 21% |
| 33 | AMTAMERICAN TOWER CORP | 75,189 | $13M | 0.9% | ADD 12% |
| 34 | ADCAGREE RLTY CORP | 160,442 | $12M | 0.9% | TRIM −55% |
| 35 | XHRXENIA HOTELS & RESORTS INC | 793,790 | $12M | 0.8% | NEW |
| 36 | ELSEQUITY LIFESTYLE PPTYS INC | 183,844 | $11M | 0.8% | TRIM −35% |
| 37 | SLGSL GREEN RLTY CORP | 302,833 | $11M | 0.8% | TRIM −6% |
| 38 | COLDAMERICOLD REALTY TRUST INC | 616,651 | $7M | 0.5% | TRIM −23% |
| 39 | GLPIGAMING & LEISURE P | 148,307 | $7M | 0.5% | TRIM −75% |
| 40 | CCICROWN CASTLE INC | 77,439 | $6M | 0.5% | NEW |
| 41 | HIWHIGHWOODS PPTYS INC | 293,803 | $6M | 0.5% | TRIM −33% |
| 42 | WPCW. P. Carey Inc. | 92,468 | $6M | 0.5% | ADD 150% |
| 43 | WYWEYERHAEUSER CO | 192,400 | $5M | 0.3% | ADD 10% |
| 44 | UEURBAN EDGE PPTYS | 221,395 | $4M | 0.3% | NEW |
| 45 | SBACSBA COMMUNICATIONS CORP NEW | 22,692 | $4M | 0.3% | TRIM −56% |
| 46 | AREALEXANDRIA REAL ESTATE EQ IN | 63,483 | $3M | 0.2% | TRIM −6% |
| 47 | PEBPEBBLEBROOK HOTEL TR | 36,494 | $460,919 | 0.0% | HOLD |
| 48 | MACK CALI RLTY CORP | 23,386 | $441,294 | 0.0% | TRIM −11% |
| 49 | SHOSUNSTONE HOTEL INVS INC NEW | 47,555 | $428,471 | 0.0% | ADD 17% |
| 50 | DEIDOUGLAS EMMETT INC | 43,686 | $411,522 | 0.0% | ADD 27% |
| 51 | VNOVORNADO RLTY TR | 15,783 | $410,200 | 0.0% | ADD 47% |
| 52 | HRHEALTHCARE RLTY TR | 23,372 | $397,090 | 0.0% | HOLD |
| 53 | TRNOTERRENO RLTY CORP | 6,444 | $395,790 | 0.0% | HOLD |
| 54 | REXRREXFORD INDL RLTY INC | 11,857 | $388,080 | 0.0% | ADD 16% |
| 55 | ESRTEMPIRE ST RLTY TR INC | 74,134 | $385,497 | 0.0% | ADD 25% |
| 56 | BXPBXP INC | 7,401 | $384,112 | 0.0% | ADD 29% |
| 57 | EPR PPTYS | 8,136 | $247,172 | 0.0% | TRIM −53% |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| WELLWELLTOWER INC | 648K | 1.1M | 1.0M | 979K | 893K | 816K | $161M |
| EQIXEQUINIX INC | 137K | 104K | 138K | 140K | 135K | 138K | $135M |
| PLDPROLOGIS INC. | 1.1M | 1.1M | 1.1M | 1.3M | 1.0M | 983K | $130M |
| OREALTY INCOME CORP | 324K | 639K | 590K | 685K | 741K | 1.2M | $73M |
| SPGSIMON PPTY GROUP INC NEW | 379K | 478K | 392K | 308K | 362K | 330K | $62M |
| VTRVENTAS INC | 1.1M | 299K | 277K | 278K | 890K | 721K | $59M |
| EQREQUITY RESIDENTIAL | 1.4M | 6K | 779K | 353K | 761K | 882K | $52M |
| DLRDIGITAL RLTY TR INC | 519K | 563K | 350K | 288K | 230K | 282K | $51M |
| EXREXTRA SPACE STORAGE INC | 309K | 120K | 415K | 279K | 155K | 319K | $42M |
| FRFIRST INDL RLTY TR INC | — | — | 576K | 635K | 516K | 593K | $34M |
| ESSEssex Property Trust | 31K | 36K | 189K | 165K | 131K | 139K | $34M |
| NTSTNETSTREIT CORP | — | — | — | 1.3M | 1.4M | 1.7M | $32M |
| PSAPUBLIC STORAGE OPER CO | 133K | 286K | 122K | 136K | 171K | 104K | $28M |
| MAAMID-AMER APT CMNTYS INC | — | — | 158K | 253K | 381K | 226K | $28M |
| IRMIRON MTN INC DEL | 152K | 540K | 464K | 474K | 491K | 260K | $27M |
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.
