CIK 1554308
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 |
|---|---|---|
| Unclassified | 67.10% | 21 |
| Equity Real Estate Investment Trusts (REITs) | 26.53% | 7 |
| Utilities | 5.18% | 2 |
| Technology Hardware & Equipment | 0.41% | 1 |
| Software & IT Services | 0.40% | 2 |
| Semiconductors & Semiconductor Equipment | 0.16% | 1 |
| Software | 0.15% | 1 |
| Specialty Retail | 0.08% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | VNQ | VANGUARD INDEX FDS | Unclassified | 24.36% |
| 2 | SPY | STATE STR SPDR S&P 500 ETF T | Unclassified | 14.67% |
| 3 | EQR | EQUITY RESIDENTIAL | Real Estate | 11.33% |
| 4 | PLD | Prologis, Inc. | Real Estate | 6.36% |
| 5 | BRK.A | BERKSHIRE HATHAWAY INC DEL | Unclassified | 4.87% |
| 6 | VTI | VANGUARD INDEX FDS | Unclassified | 4.80% |
| 7 | VEA | VANGUARD TAX-MANAGED FDS | Unclassified | 4.14% |
| 8 | ELS | EQUITY LIFESTYLE PROPERTIES INC | Real Estate | 3.96% |
| 9 | EPD | ENTERPRISE PRODUCTS PARTNERS L.P. | Utilities | 3.72% |
| 10 | VT | VANGUARD INTL EQUITY INDEX F | Unclassified | 3.13% |
16/36 names classified · sector 35.3% of weight · industry 32.9% · mkt cap 35.3%; 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: 35.3% of the book is sector-classified (unclassified names shown, never dropped).
Only 29% of book weight classified — the grid is NOT representative of the whole book.
Classified: 29.0% of book weight (12/36 names) · unclassified 71.0%: VNQ, SPY, BRK.A, VTI, VEA, EPD, VT, SLV, BRK.B, GLDM +14 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 | VNQVANGUARD INDEX FDS | 849,940 | $75M | 24.4% | HOLD |
| 2 | SPYSTATE STR SPDR S&P 500 ETF T | 69,811 | $45M | 14.7% | TRIM −8% |
| 3 | EQREQUITY RESIDENTIAL | 593,090 | $35M | 11.3% | ADD 83% |
| 4 | PLDPROLOGIS INC. | 149,038 | $20M | 6.4% | HOLD |
| 5 | BRK.ABERKSHIRE HATHAWAY INC DEL | 21 | $15M | 4.9% | NEW |
| 6 | VTIVANGUARD INDEX FDS | 46,265 | $15M | 4.8% | HOLD |
| 7 | VEAVANGUARD TAX-MANAGED FDS | 200,180 | $13M | 4.1% | TRIM −13% |
| 8 | ELSEQUITY LIFESTYLE PPTYS INC | 196,584 | $12M | 4.0% | HOLD |
| 9 | EPDENTERPRISE PRODS PARTNERS L | 304,608 | $12M | 3.7% | HOLD |
| 10 | VTVANGUARD INTL EQUITY INDEX F | 70,103 | $10M | 3.1% | HOLD |
| 11 | PSAPUBLIC STORAGE OPER CO | 30,497 | $8M | 2.7% | HOLD |
| 12 | SLVISHARES SILVER TR | 119,501 | $8M | 2.6% | HOLD |
| 13 | BRK.BBERKSHIRE HATHAWAY INC DEL | 15,302 | $7M | 2.4% | ADD 260% |
| 14 | GLDMWORLD GOLD TR | 70,501 | $7M | 2.1% | ADD 2% |
| 15 | COLDAMERICOLD REALTY TRUST INC | 555,865 | $6M | 2.1% | HOLD |
| 16 | WMBWILLIAMS COS INC | 61,760 | $4M | 1.5% | HOLD |
| 17 | VWOVANGUARD INTL EQUITY INDEX F | 62,883 | $3M | 1.1% | TRIM −5% |
| 18 | IEFAISHARES TR | 20,507 | $2M | 0.6% | HOLD |
| 19 | AAPLAPPLE INC | 4,951 | $1M | 0.4% | HOLD |
| 20 | VVVANGUARD INDEX FDS | 3,800 | $1M | 0.4% | HOLD |
| 21 | EFAISHARES TR | 11,268 | $1M | 0.4% | HOLD |
| 22 | GOOGLALPHABET INC | 3,540 | $1M | 0.3% | HOLD |
| 23 | SGOLETFS GOLD TR | 20,093 | $896,550 | 0.3% | ADD 30% |
| 24 | IJRISHARES TR | 6,298 | $782,904 | 0.3% | HOLD |
| 25 | VONVVANGUARD SCOTTSDALE FDS | 7,825 | $733,515 | 0.2% | HOLD |
| 26 | IVVISHARES TR | 1,100 | $718,531 | 0.2% | HOLD |
| 27 | VCSHVANGUARD SCOTTSDALE FDS | 7,774 | $616,271 | 0.2% | TRIM −16% |
| 28 | IEMGISHARES INC | 7,324 | $510,849 | 0.2% | HOLD |
| 29 | NVDANVIDIA CORPORATION | 2,920 | $509,248 | 0.2% | TRIM −7% |
| 30 | MSFTMICROSOFT CORP | 1,275 | $471,967 | 0.2% | HOLD |
| 31 | ESGUISHARES TR | 2,532 | $358,075 | 0.1% | HOLD |
| 32 | ACWIISHARES TR | 2,494 | $345,095 | 0.1% | HOLD |
| 33 | SKTTANGER INC | 8,000 | $271,840 | 0.1% | HOLD |
| 34 | AMZNAMAZON COM INC | 1,200 | $249,924 | 0.1% | HOLD |
| 35 | GOOGALPHABET INC | 720 | $206,539 | 0.1% | HOLD |
| 36 | PEBPEBBLEBROOK HOTEL TR | 12,000 | $151,560 | 0.0% | HOLD |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| VNQVANGUARD INDEX FDS | 809K | 818K | 825K | 833K | 841K | 850K | $75M |
| SPYSTATE STR SPDR S&P 500 ETF T | 71K | 70K | 72K | 75K | 76K | 70K | $45M |
| EQREQUITY RESIDENTIAL | 314K | 317K | 319K | 321K | 324K | 593K | $35M |
| PLDPROLOGIS INC. | 143K | 144K | 145K | 147K | 148K | 149K | $20M |
| BRK/ABERKSHIRE HATHAWAY INC DEL | — | — | — | — | — | 21 | $15M |
| VTIVANGUARD INDEX FDS | 59K | 56K | 51K | 51K | 47K | 46K | $15M |
| VEAVANGUARD TAX-MANAGED FDS | 230K | 231K | 235K | 245K | 231K | 200K | $13M |
| ELSEQUITY LIFESTYLE PPTYS INC | 189K | 190K | 192K | 193K | 195K | 197K | $12M |
| EPDENTERPRISE PRODS PARTNERS L | — | — | 302K | 302K | 302K | 305K | $12M |
| VTVANGUARD INTL EQUITY INDEX F | 71K | 70K | 70K | 70K | 71K | 70K | $10M |
| PSAPUBLIC STORAGE OPER CO | 29K | 29K | 30K | 30K | 30K | 30K | $8M |
| SLVISHARES SILVER TR | 120K | 120K | 120K | 120K | 120K | 120K | $8M |
| BRK.BBERKSHIRE HATHAWAY INC DEL | 6K | 6K | 5K | 5K | 4K | 15K | $7M |
| GLDMWORLD GOLD TR | 69K | 69K | 69K | 69K | 69K | 71K | $7M |
| COLDAMERICOLD REALTY TRUST INC | — | — | 556K | 556K | 556K | 556K | $6M |
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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