CIK 1499066
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) | 65.26% | 19 |
| Hotels, Restaurants & Leisure | 16.55% | 4 |
| Entertainment | 6.97% | 2 |
| Marine | 3.31% | 1 |
| Distributors | 2.27% | 1 |
| Construction Materials | 2.24% | 1 |
| Construction & Engineering | 1.63% | 2 |
| Real Estate Management & Development | 0.91% | 1 |
| Software & IT Services | 0.86% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | IRT | INDEPENDENCE REALTY TRUST, INC. | Real Estate | 8.72% |
| 2 | JAN | Janus Living, Inc. | Real Estate | 7.93% |
| 3 | JBGS | JBG SMITH Properties | Real Estate | 6.59% |
| 4 | WH | WYNDHAM HOTELS & RESORTS, INC. | Consumer Discretionary | 5.83% |
| 5 | TRTX | TPG RE Finance Trust, Inc. | Real Estate | 5.61% |
| 6 | PRKS | United Parks & Resorts Inc. | Communication Services | 5.61% |
| 7 | WYNN | WYNN RESORTS LTD | Consumer Discretionary | 5.49% |
| 8 | COLD | AMERICOLD REALTY TRUST | Real Estate | 5.27% |
| 9 | INN | Summit Hotel Properties, Inc. | Real Estate | 4.25% |
| 10 | DOC | HEALTHPEAK PROPERTIES, INC. | Real Estate | 4.18% |
32/32 names classified · sector 100.0% of weight · industry 100.0% · mkt cap 92.1%; 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: 68.7% of book weight (21/32 names) · unclassified 31.3%: JAN, JBGS, INN, KREF, JHX, SMA, FUN, NXRT, COMP, SMRT +1 more. 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 | IRTINDEPENDENCE RLTY TR INC | 5,727,238 | $85M | 8.7% | ADD 472% |
| 2 | JANJANUS LIVING INC | 3,290,000 | $78M | 7.9% | NEW |
| 3 | JBGSJBG SMITH PPTYS | 4,414,269 | $64M | 6.6% | ADD 6% |
| 4 | WHWYNDHAM HOTELS & RESORTS INC | 701,663 | $57M | 5.8% | ADD 108% |
| 5 | TRTXTPG RE FIN TR INC | 7,029,102 | $55M | 5.6% | HOLD |
| 6 | PRKSUNITED PARKS & RESORTS INC | 1,680,727 | $55M | 5.6% | ADD 97% |
| 7 | WYNNWYNN RESORTS LTD | 529,057 | $54M | 5.5% | NEW |
| 8 | COLDAMERICOLD REALTY TRUST INC | 4,498,210 | $52M | 5.3% | TRIM −23% |
| 9 | INNSUMMIT HOTEL PPTYS INC | 9,400,000 | $42M | 4.2% | HOLD |
| 10 | DOCHEALTHPEAK PROPERTIES INC | 2,490,700 | $41M | 4.2% | NEW |
| 11 | CPTCAMDEN PPTY TR | 401,134 | $39M | 4.0% | ADD 647% |
| 12 | KREFKKR REAL ESTATE FIN TR INC | 5,733,513 | $35M | 3.6% | ADD 267% |
| 13 | NCLHNORWEGIAN CRUISE LINE HLDGS | 1,730,000 | $32M | 3.3% | NEW |
| 14 | HHYATT HOTELS CORP | 223,989 | $32M | 3.3% | ADD 10% |
| 15 | AMHAMERICAN HOMES 4 RENT | 1,111,773 | $31M | 3.2% | NEW |
| 16 | KRCKILROY RLTY CORP | 1,039,178 | $29M | 3.0% | NEW |
| 17 | POOLPOOL CORP | 109,500 | $22M | 2.3% | NEW |
| 18 | JHXJAMES HARDIE INDS PLC | 1,155,000 | $22M | 2.2% | NEW |
| 19 | HGVHILTON GRAND VACATIONS INC | 485,394 | $19M | 1.9% | TRIM −34% |
| 20 | SMASMARTSTOP SELF STORAG REIT I | 613,458 | $19M | 1.9% | NEW |
| 21 | CUBECUBESMART | 435,429 | $16M | 1.6% | ADD 26% |
| 22 | LINELINEAGE INC | 410,971 | $13M | 1.4% | ADD 123% |
| 23 | FUNSIX FLAGS ENTERTAINMENT CORP | 750,424 | $13M | 1.4% | NEW |
| 24 | NXRTNEXPOINT RESIDENTIAL TR INC | 452,604 | $11M | 1.2% | TRIM −46% |
| 25 | CSRCENTERSPACE | 190,000 | $11M | 1.1% | TRIM −57% |
| 26 | TMHCTAYLOR MORRISON HOME CORP | 174,364 | $10M | 1.0% | NEW |
| 27 | COMPCOMPASS INC | 1,216,711 | $9M | 0.9% | TRIM −76% |
| 28 | SMRTSMARTRENT INC | 5,610,150 | $8M | 0.9% | HOLD |
| 29 | SAFESAFEHOLD INC | 553,703 | $7M | 0.8% | TRIM −41% |
| 30 | MHOM/I HOMES INC | 47,595 | $6M | 0.6% | TRIM −33% |
| 31 | MAAMID-AMER APT CMNTYS INC | 40,503 | $5M | 0.5% | HOLD |
| 32 | SLGSL GREEN RLTY CORP | 129,500 | $5M | 0.5% | TRIM −6% |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| IRTINDEPENDENCE RLTY TR INC | 8.5M | 828K | 5.5M | 12.3M | 1.0M | 5.7M | $85M |
| JANJANUS LIVING INC | — | — | — | — | — | 3.3M | $78M |
| JBGSJBG SMITH PPTYS | 6.3M | 3.6M | 3.8M | 3.2M | 4.1M | 4.4M | $64M |
| WHWYNDHAM HOTELS & RESORTS INC | — | 233K | 1.5M | — | 338K | 702K | $57M |
| TRTXTPG RE FIN TR INC | 7.3M | 7.3M | 7.3M | 6.9M | 7.0M | 7.0M | $55M |
| PRKSUNITED PARKS & RESORTS INC | — | — | — | — | 855K | 1.7M | $55M |
| WYNNWYNN RESORTS LTD | 762K | 539K | — | — | — | 529K | $54M |
| COLDAMERICOLD REALTY TRUST INC | 2.1M | — | — | 7.8M | 5.8M | 4.5M | $52M |
| INNSUMMIT HOTEL PPTYS INC | — | — | 9.4M | 9.4M | 9.4M | 9.4M | $42M |
| DOCHEALTHPEAK PROPERTIES INC | 4.3M | — | — | — | — | 2.5M | $41M |
| CPTCAMDEN PPTY TR | 1.1M | 330K | 1.0M | 1.9M | 54K | 401K | $39M |
| KREFKKR REAL ESTATE FIN TR INC | — | — | — | 2.3M | 1.6M | 5.7M | $35M |
| NCLHNORWEGIAN CRUISE LINE HLDGS | — | — | — | — | — | 1.7M | $32M |
| HHYATT HOTELS CORP | — | 1.6M | 921K | 318K | 203K | 224K | $32M |
| AMHAMERICAN HOMES 4 RENT | — | — | — | 1.6M | — | 1.1M | $31M |
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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