CIK 1391974
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) | 93.20% | 26 |
| Real Estate Management & Development | 6.80% | 3 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | EQIX | EQUINIX INC | Real Estate | 11.43% |
| 2 | WELL | WELLTOWER INC. | Real Estate | 10.64% |
| 3 | PLD | Prologis, Inc. | Real Estate | 9.44% |
| 4 | DLR | DIGITAL REALTY TRUST, INC. | Real Estate | 4.81% |
| 5 | SPG | SIMON PROPERTY GROUP INC. | Real Estate | 4.39% |
| 6 | PSA | Public Storage | Real Estate | 3.59% |
| 7 | SBRA | Sabra Health Care REIT, Inc. | Real Estate | 3.53% |
| 8 | ESS | ESSEX PROPERTY TRUST, INC. | Real Estate | 3.43% |
| 9 | VICI | VICI PROPERTIES INC. | Real Estate | 3.36% |
| 10 | CTRE | CareTrust REIT, Inc. | Real Estate | 3.27% |
29/29 names classified · sector 100.0% of weight · industry 100.0% · mkt cap 100.0%; 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: 96.0% of book weight (27/29 names) · unclassified 4.0%: MAC, ARE. 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 | 21,473 | $21M | 11.4% | HOLD |
| 2 | WELLWELLTOWER INC | 99,129 | $20M | 10.6% | ADD 11% |
| 3 | PLDPROLOGIS INC. | 131,592 | $17M | 9.4% | HOLD |
| 4 | DLRDIGITAL RLTY TR INC | 49,112 | $9M | 4.8% | HOLD |
| 5 | SPGSIMON PPTY GROUP INC NEW | 43,386 | $8M | 4.4% | HOLD |
| 6 | PSAPUBLIC STORAGE OPER CO | 24,435 | $7M | 3.6% | NEW |
| 7 | SBRASABRA HEALTH CARE REIT INC | 337,944 | $6M | 3.5% | ADD 77% |
| 8 | ESSEssex Property Trust | 26,084 | $6M | 3.4% | HOLD |
| 9 | VICIVICI PPTYS INC | 226,226 | $6M | 3.4% | HOLD |
| 10 | CTRECareTrust REIT, Inc. | 164,360 | $6M | 3.3% | ADD 30% |
| 11 | OREALTY INCOME CORP | 91,148 | $6M | 3.0% | HOLD |
| 12 | HSTHOST HOTELS & RESORTS INC | 272,615 | $5M | 2.8% | HOLD |
| 13 | AVBAVALONBAY CMNTYS INC | 31,972 | $5M | 2.8% | HOLD |
| 14 | IVTINVENTRUST PPTYS CORP | 165,476 | $5M | 2.7% | ADD 8% |
| 15 | MACMACERICH CO | 256,575 | $5M | 2.6% | HOLD |
| 16 | INVHINVITATION HOMES INC | 189,924 | $5M | 2.6% | HOLD |
| 17 | ELSEQUITY LIFESTYLE PPTYS INC | 74,303 | $5M | 2.5% | HOLD |
| 18 | CUBECUBESMART | 122,450 | $4M | 2.4% | NEW |
| 19 | EPRTESSENTIAL PPTYS RLTY TR INC | 147,147 | $4M | 2.4% | HOLD |
| 20 | GLPIGAMING & LEISURE P | 92,625 | $4M | 2.2% | HOLD |
| 21 | CURBCURBLINE PPTYS CORP | 157,511 | $4M | 2.2% | HOLD |
| 22 | AMTAMERICAN TOWER CORP | 23,163 | $4M | 2.2% | HOLD |
| 23 | TRNOTERRENO RLTY CORP | 60,809 | $4M | 2.0% | ADD 34% |
| 24 | BNLBROADSTONE NET LEASE INC | 200,513 | $4M | 2.0% | HOLD |
| 25 | CPTCAMDEN PPTY TR | 35,281 | $3M | 1.9% | ADD 12% |
| 26 | BXPBXP INC | 55,911 | $3M | 1.6% | HOLD |
| 27 | LXPLXP INDUSTRIAL TRUST | 61,675 | $3M | 1.5% | NEW |
| 28 | AREALEXANDRIA REAL ESTATE EQ IN | 55,937 | $3M | 1.4% | HOLD |
| 29 | COLDAMERICOLD REALTY TRUST INC | 172,380 | $2M | 1.1% | NEW |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| EQIXEQUINIX INC | 20K | 20K | 23K | 21K | 22K | 21K | $21M |
| WELLWELLTOWER INC | 73K | 81K | 94K | 88K | 90K | 99K | $20M |
| PLDPROLOGIS INC. | 126K | 128K | 128K | 121K | 132K | 132K | $17M |
| DLRDIGITAL RLTY TR INC | 42K | 44K | 53K | 49K | 49K | 49K | $9M |
| SPGSIMON PPTY GROUP INC NEW | 44K | 45K | 45K | 43K | 44K | 43K | $8M |
| PSAPUBLIC STORAGE OPER CO | 29K | 29K | 17K | — | — | 24K | $7M |
| SBRASABRA HEALTH CARE REIT INC | 298K | — | — | — | 191K | 338K | $6M |
| ESSEssex Property Trust | — | 25K | 28K | 26K | 26K | 26K | $6M |
| VICIVICI PPTYS INC | 264K | 271K | 272K | 251K | 227K | 226K | $6M |
| CTRECareTrust REIT, Inc. | — | — | — | 124K | 126K | 164K | $6M |
| OREALTY INCOME CORP | 129K | 132K | 132K | 90K | 91K | 91K | $6M |
| HSTHOST HOTELS & RESORTS INC | 343K | 280K | 280K | 259K | 274K | 273K | $5M |
| AVBAVALONBAY CMNTYS INC | 26K | 31K | 32K | — | 32K | 32K | $5M |
| IVTINVENTRUST PPTYS CORP | 177K | 86K | 87K | 80K | 153K | 165K | $5M |
| MACMACERICH CO | 269K | 274K | 274K | 254K | 258K | 257K | $5M |
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.
