CIK 1566089
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) | 63.49% | 33 |
| Unclassified | 31.23% | 7 |
| Semiconductors & Semiconductor Equipment | 2.46% | 1 |
| Commercial Services & Supplies | 1.18% | 1 |
| Real Estate Management & Development | 0.95% | 1 |
| Transportation Infrastructure | 0.68% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | RLJ LODGING TR | Unclassified | 9.32% | |
| 2 | EQIX | EQUINIX INC | Real Estate | 8.16% |
| 3 | EPR PPTYS | Unclassified | 7.07% | |
| 4 | AMT | AMERICAN TOWER CORP /MA/ | Real Estate | 6.53% |
| 5 | PEBBLEBROOK HOTEL TR | Unclassified | 5.90% | |
| 6 | PLD | Prologis, Inc. | Real Estate | 4.17% |
| 7 | ELS | EQUITY LIFESTYLE PROPERTIES INC | Real Estate | 3.84% |
| 8 | WELL | WELLTOWER INC. | Real Estate | 3.30% |
| 9 | RITHM PPTY TR INC | Unclassified | 3.28% | |
| 10 | GLPI | Gaming & Leisure Properties, Inc. | Real Estate | 3.19% |
37/44 names classified · sector 68.8% of weight · industry 68.8% · mkt cap 68.8%; 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: 68.8% of the book is sector-classified (unclassified names shown, never dropped).
Classified: 64.5% of book weight (32/38 names) · unclassified 35.5%: , SLG, MAC, DHC, ARE, XRN. 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 | RLJ LODGING TR | 287,768 | $7M | 9.3% | HOLD |
| 2 | EQIXEQUINIX INC | 6,192 | $6M | 8.2% | ADD 86% |
| 3 | EPR PPTYS | 173,004 | $5M | 7.1% | TRIM −37% |
| 4 | AMTAMERICAN TOWER CORP | 28,156 | $5M | 6.5% | ADD 82% |
| 5 | PEBBLEBROOK HOTEL TR | 228,278 | $4M | 5.9% | TRIM −2% |
| 6 | PLDPROLOGIS INC. | 23,448 | $3M | 4.2% | HOLD |
| 7 | ELSEQUITY LIFESTYLE PPTYS INC | 45,723 | $3M | 3.8% | NEW |
| 8 | WELLWELLTOWER INC | 12,401 | $2M | 3.3% | ADD 15% |
| 9 | RITHM PPTY TR INC | 99,012 | $2M | 3.3% | NEW |
| 10 | GLPIGAMING & LEISURE P | 53,519 | $2M | 3.2% | HOLD |
| 11 | PEBBLEBROOK HOTEL TR | 112,186 | $2M | 2.9% | HOLD |
| 12 | DLRDIGITAL RLTY TR INC | 10,853 | $2M | 2.6% | TRIM −55% |
| 13 | PSAPUBLIC STORAGE OPER CO | 6,881 | $2M | 2.5% | ADD 60% |
| 14 | SPGSIMON PPTY GROUP INC NEW | 9,861 | $2M | 2.5% | HOLD |
| 15 | VRTVERTIV HOLDINGS CO | 7,301 | $2M | 2.5% | HOLD |
| 16 | OREALTY INCOME CORP | 29,285 | $2M | 2.4% | HOLD |
| 17 | CCICROWN CASTLE INC | 21,866 | $2M | 2.4% | TRIM −54% |
| 18 | VICIVICI PPTYS INC | 58,909 | $2M | 2.2% | HOLD |
| 19 | ESSEssex Property Trust | 5,852 | $1M | 1.9% | HOLD |
| 20 | LXP INDUSTRIAL TRUST | 30,778 | $1M | 1.9% | HOLD |
| 21 | VTRVENTAS INC | 15,962 | $1M | 1.8% | TRIM −29% |
| 22 | IRMIRON MTN INC DEL | 12,344 | $1M | 1.7% | TRIM −19% |
| 23 | SLGSL GREEN RLTY CORP | 28,869 | $1M | 1.4% | ADD 304% |
| 24 | OHIOMEGA HEALTHCARE INVS INC | 23,233 | $1M | 1.4% | NEW |
| 25 | ARIAPOLLO COML REAL EST FIN INC | 95,131 | $1M | 1.4% | NEW |
| 26 | CHCTCOMMUNITY HEALTHCARE TR INC | 58,236 | $925,370 | 1.2% | TRIM −23% |
| 27 | MACMACERICH CO | 48,942 | $925,004 | 1.2% | ADD 334% |
| 28 | FTAIFTAI AVIATION LTD | 3,596 | $881,020 | 1.2% | TRIM −23% |
| 29 | PMTPENNYMAC MTG INVT TR | 66,483 | $775,192 | 1.0% | ADD 252% |
| 30 | DHCDIVERSIFIED HEALTHCARE TR | 107,256 | $712,180 | 1.0% | TRIM −60% |
| 31 | CBRECBRE GROUP INC | 5,242 | $710,081 | 1.0% | NEW |
| 32 | BRXBRIXMOR PPTY GROUP INC | 22,590 | $650,592 | 0.9% | HOLD |
| 33 | EPR PPTYS | 27,950 | $631,949 | 0.8% | HOLD |
| 34 | WYWEYERHAEUSER CO | 25,855 | $631,638 | 0.8% | ADD 186% |
| 35 | EGPEASTGROUP PPTYS INC | 3,026 | $560,082 | 0.8% | HOLD |
| 36 | EXPEEXPEDIA GROUP INC | 2,193 | $506,342 | 0.7% | NEW |
| 37 | LINELINEAGE INC | 15,054 | $493,169 | 0.7% | NEW |
| 38 | UMHUMH PPTYS INC | 31,162 | $449,668 | 0.6% | TRIM −56% |
| 39 | CTOCTO RLTY GROWTH INC NEW | 20,210 | $373,684 | 0.5% | TRIM −67% |
| 40 | AREALEXANDRIA REAL ESTATE EQ IN | 5,336 | $247,697 | 0.3% | NEW |
| 41 | XRNGLOBAL MED REIT INC | 7,043 | $232,982 | 0.3% | HOLD |
| 42 | HSTHOST HOTELS & RESORTS INC | 11,555 | $221,394 | 0.3% | HOLD |
| 43 | KRGKITE RLTY GROUP TR | 8,293 | $203,593 | 0.3% | NEW |
| 44 | EXREXTRA SPACE STORAGE INC | 1,549 | $203,120 | 0.3% | TRIM −77% |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| RLJ LODGING TR | 287K | 310K | 309K | 301K | 291K | 288K | $7M |
| EQIXEQUINIX INC | 4K | 5K | 5K | 5K | 3K | 6K | $6M |
| EPR PPTYS | 273K | 280K | 280K | 280K | 275K | 173K | $5M |
| AMTAMERICAN TOWER CORP | 16K | 22K | 15K | 19K | 15K | 28K | $5M |
| PEBBLEBROOK HOTEL TR | — | 196K | 196K | 186K | 234K | 228K | $4M |
| PLDPROLOGIS INC. | 15K | — | — | 7K | 23K | 23K | $3M |
| ELSEQUITY LIFESTYLE PPTYS INC | — | 46K | 46K | 46K | — | 46K | $3M |
| WELLWELLTOWER INC | — | — | — | — | 11K | 12K | $2M |
| RITHM PPTY TR INC | — | 102K | 102K | 103K | — | 99K | $2M |
| GLPIGAMING & LEISURE P | — | — | — | — | 54K | 54K | $2M |
| PEBBLEBROOK HOTEL TR | — | 190K | 190K | 180K | 112K | 112K | $2M |
| DLRDIGITAL RLTY TR INC | 8K | 8K | 7K | 3K | 24K | 11K | $2M |
| PSAPUBLIC STORAGE OPER CO | 6K | — | — | — | 4K | 7K | $2M |
| SPGSIMON PPTY GROUP INC NEW | — | — | — | 4K | 10K | 10K | $2M |
| VRTVERTIV HOLDINGS CO | 9K | 14K | 10K | 9K | 7K | 7K | $2M |
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.
