CIK 1085601
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) | 99.12% | 46 |
| Real Estate Management & Development | 0.88% | 2 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | EQIX | EQUINIX INC | Real Estate | 12.63% |
| 2 | WELL | WELLTOWER INC. | Real Estate | 9.48% |
| 3 | PLD | Prologis, Inc. | Real Estate | 6.58% |
| 4 | PSA | Public Storage | Real Estate | 5.19% |
| 5 | AMT | AMERICAN TOWER CORP /MA/ | Real Estate | 4.42% |
| 6 | SPG | SIMON PROPERTY GROUP INC. | Real Estate | 4.18% |
| 7 | AMH | American Homes 4 Rent | Real Estate | 4.01% |
| 8 | GLPI | Gaming & Leisure Properties, Inc. | Real Estate | 3.46% |
| 9 | EQR | EQUITY RESIDENTIAL | Real Estate | 3.37% |
| 10 | LXP | LXP Industrial Trust | Real Estate | 3.34% |
48/48 names classified · sector 100.0% of weight · industry 100.0% · mkt cap 99.9%; 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: 97.1% of book weight (44/48 names) · unclassified 2.9%: ARE, REG, JAN, STAG. 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 | EQIXEQUINIX INC | 325,873 | $319M | 12.6% | ADD 2% |
| 2 | WELLWELLTOWER INC | 1,212,631 | $240M | 9.5% | ADD 6% |
| 3 | PLDPROLOGIS INC. | 1,259,766 | $167M | 6.6% | HOLD |
| 4 | PSAPUBLIC STORAGE OPER CO | 484,663 | $131M | 5.2% | HOLD |
| 5 | AMTAMERICAN TOWER CORP | 648,257 | $112M | 4.4% | ADD 23% |
| 6 | SPGSIMON PPTY GROUP INC NEW | 567,093 | $106M | 4.2% | ADD 6% |
| 7 | AMHAMERICAN HOMES 4 RENT | 3,633,873 | $101M | 4.0% | ADD 19% |
| 8 | GLPIGAMING & LEISURE P | 1,974,314 | $88M | 3.5% | TRIM −4% |
| 9 | EQREQUITY RESIDENTIAL | 1,442,422 | $85M | 3.4% | ADD 4% |
| 10 | LXPLXP INDUSTRIAL TRUST | 1,828,528 | $85M | 3.3% | ADD 7% |
| 11 | OUTOUTFRONT MEDIA INC | 3,133,027 | $83M | 3.3% | TRIM −11% |
| 12 | COLDAMERICOLD REALTY TRUST INC | 6,962,583 | $80M | 3.2% | ADD 2% |
| 13 | VTRVENTAS INC | 963,351 | $79M | 3.1% | TRIM −31% |
| 14 | SBRASABRA HEALTH CARE REIT INC | 3,824,622 | $74M | 2.9% | ADD 8% |
| 15 | AREALEXANDRIA REAL ESTATE EQ IN | 1,511,273 | $70M | 2.8% | TRIM −11% |
| 16 | FCPTFOUR CORNERS PPTY TR INC | 2,565,734 | $61M | 2.4% | ADD 80% |
| 17 | KRGKITE RLTY GROUP TR | 2,369,854 | $58M | 2.3% | TRIM −23% |
| 18 | AVBAVALONBAY CMNTYS INC | 344,766 | $56M | 2.2% | ADD 4% |
| 19 | ADCAGREE RLTY CORP | 719,719 | $54M | 2.1% | ADD 7% |
| 20 | CUBECUBESMART | 1,291,212 | $47M | 1.9% | ADD 20% |
| 21 | ESRTEMPIRE ST RLTY TR INC | 9,058,860 | $47M | 1.9% | ADD 64% |
| 22 | UDRUDR INC | 1,370,031 | $46M | 1.8% | ADD 3% |
| 23 | ELSEQUITY LIFESTYLE PPTYS INC | 738,531 | $46M | 1.8% | TRIM −3% |
| 24 | VICIVICI PPTYS INC | 1,615,438 | $44M | 1.7% | TRIM −7% |
| 25 | HSTHOST HOTELS & RESORTS INC | 2,030,396 | $39M | 1.5% | ADD 26% |
| 26 | FRTFEDERAL RLTY INVT TR NEW | 353,194 | $38M | 1.5% | HOLD |
| 27 | REXRREXFORD INDL RLTY INC | 980,672 | $32M | 1.3% | NEW |
| 28 | NNNNNN REIT INC | 741,012 | $31M | 1.2% | ADD 23% |
| 29 | DLRDIGITAL RLTY TR INC | 144,014 | $26M | 1.0% | TRIM −64% |
| 30 | BXPBXP INC | 487,084 | $25M | 1.0% | ADD 98% |
| 31 | INVHINVITATION HOMES INC | 668,065 | $17M | 0.7% | ADD 10% |
| 32 | DOCHEALTHPEAK PROPERTIES INC | 533,956 | $9M | 0.3% | HOLD |
| 33 | OREALTY INCOME CORP | 140,705 | $9M | 0.3% | TRIM −81% |
| 34 | SUISUN CMNTYS INC | 53,134 | $7M | 0.3% | HOLD |
| 35 | ESSEssex Property Trust | 23,605 | $6M | 0.2% | HOLD |
| 36 | CURBCURBLINE PPTYS CORP | 220,275 | $6M | 0.2% | TRIM −72% |
| 37 | REGREGENCY CTRS CORP | 28,418 | $2M | 0.1% | HOLD |
| 38 | SBACSBA COMMUNICATIONS CORP NEW | 8,067 | $1M | 0.1% | TRIM −22% |
| 39 | JANJANUS LIVING INC | 57,182 | $1M | 0.1% | NEW |
| 40 | KRCKILROY RLTY CORP | 35,300 | $995,813 | 0.0% | HOLD |
| 41 | WYWEYERHAEUSER CO | 31,568 | $771,206 | 0.0% | HOLD |
| 42 | LAMRLAMAR ADVERTISING CO | 2,862 | $362,501 | 0.0% | TRIM −12% |
| 43 | CCICROWN CASTLE INC | 3,621 | $294,424 | 0.0% | TRIM −48% |
| 44 | STAGSTAG INDL INC | 6,621 | $238,753 | 0.0% | HOLD |
| 45 | FRFIRST INDL RLTY TR INC | 3,159 | $182,748 | 0.0% | TRIM −100% |
| 46 | LINELINEAGE INC | 3,577 | $117,183 | 0.0% | TRIM −47% |
| 47 | IVTINVENTRUST PPTYS CORP | 1,843 | $56,138 | 0.0% | TRIM −53% |
| 48 | CUZCOUSINS PPTYS INC | 929 | $20,968 | 0.0% | NEW |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| EQIXEQUINIX INC | 271K | 253K | 298K | 325K | 319K | 326K | $319M |
| WELLWELLTOWER INC | 1.4M | 1.3M | 1.4M | 1.2M | 1.1M | 1.2M | $240M |
| PLDPROLOGIS INC. | 1.3M | 1.3M | 1.4M | 1.3M | 1.3M | 1.3M | $167M |
| PSAPUBLIC STORAGE OPER CO | 440K | 369K | 394K | 502K | 480K | 485K | $131M |
| AMTAMERICAN TOWER CORP | 658K | 472K | 477K | 483K | 528K | 648K | $112M |
| SPGSIMON PPTY GROUP INC NEW | 542K | 464K | 514K | 506K | 533K | 567K | $106M |
| AMHAMERICAN HOMES 4 RENT | — | 1.7M | 1.6M | 2.9M | 3.1M | 3.6M | $101M |
| GLPIGAMING & LEISURE P | 1.4M | 1.4M | 1.7M | 1.9M | 2.1M | 2.0M | $88M |
| EQREQUITY RESIDENTIAL | 1.2M | 1.2M | 1.2M | 1.2M | 1.4M | 1.4M | $85M |
| LXPLXP INDUSTRIAL TRUST | — | — | — | — | 1.7M | 1.8M | $85M |
| OUTOUTFRONT MEDIA INC | 3.1M | 3.2M | 3.9M | 3.7M | 3.5M | 3.1M | $83M |
| COLDAMERICOLD REALTY TRUST INC | 3.6M | 3.5M | 6.2M | 7.0M | 6.8M | 7.0M | $80M |
| VTRVENTAS INC | 370K | 405K | 126K | 1.6M | 1.4M | 963K | $79M |
| SBRASABRA HEALTH CARE REIT INC | 271 | — | — | — | 3.5M | 3.8M | $74M |
| AREALEXANDRIA REAL ESTATE EQ IN | 585K | 621K | 1.2M | 1.2M | 1.7M | 1.5M | $70M |
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.
Where this firm's principals came from and which firms its alumni went on to found.
