CIK 1612389
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) | 91.46% | 19 |
| Real Estate Management & Development | 4.96% | 3 |
| Utilities | 3.44% | 17 |
| Road & Rail | 0.15% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | WELL | WELLTOWER INC. | Real Estate | 14.99% |
| 2 | EQIX | EQUINIX INC | Real Estate | 13.35% |
| 3 | FRT | FEDERAL REALTY INVESTMENT TRUST | Real Estate | 8.14% |
| 4 | SPG | SIMON PROPERTY GROUP INC. | Real Estate | 7.84% |
| 5 | DLR | DIGITAL REALTY TRUST, INC. | Real Estate | 7.47% |
| 6 | VTR | Ventas, Inc. | Real Estate | 7.21% |
| 7 | PLD | Prologis, Inc. | Real Estate | 6.55% |
| 8 | HR | Healthcare Realty Trust Inc | Real Estate | 5.01% |
| 9 | VNO | VORNADO REALTY TRUST | Real Estate | 4.08% |
| 10 | EXR | Extra Space Storage Inc. | Real Estate | 3.95% |
40/40 names classified · sector 100.0% of weight · industry 100.0% · mkt cap 99.7%; 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: 97.9% of book weight (38/40 names) · unclassified 2.1%: MAC, JAN. 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 | WELLWELLTOWER INC | 3,605,925 | $713M | 15.0% | HOLD |
| 2 | EQIXEQUINIX INC | 647,648 | $635M | 13.3% | ADD 15% |
| 3 | FRTFEDERAL RLTY INVT TR NEW | 3,644,575 | $387M | 8.1% | ADD 10% |
| 4 | SPGSIMON PPTY GROUP INC NEW | 1,998,411 | $373M | 7.8% | HOLD |
| 5 | DLRDIGITAL RLTY TR INC | 1,970,697 | $355M | 7.5% | HOLD |
| 6 | VTRVENTAS INC | 4,192,008 | $343M | 7.2% | TRIM −20% |
| 7 | PLDPROLOGIS INC. | 2,358,259 | $312M | 6.6% | TRIM −24% |
| 8 | HRHEALTHCARE RLTY TR | 14,034,367 | $238M | 5.0% | ADD 72% |
| 9 | VNOVORNADO RLTY TR | 7,459,981 | $194M | 4.1% | ADD 34% |
| 10 | EXREXTRA SPACE STORAGE INC | 1,433,812 | $188M | 4.0% | TRIM −30% |
| 11 | ESSEssex Property Trust | 673,020 | $163M | 3.4% | HOLD |
| 12 | EQREQUITY RESIDENTIAL | 2,044,695 | $121M | 2.5% | HOLD |
| 13 | ELSEQUITY LIFESTYLE PPTYS INC | 1,885,292 | $118M | 2.5% | ADD 3% |
| 14 | TRNOTERRENO RLTY CORP | 1,623,857 | $100M | 2.1% | ADD 7% |
| 15 | MACMACERICH CO | 4,384,180 | $83M | 1.7% | ADD 204% |
| 16 | UEURBAN EDGE PPTYS | 3,940,938 | $79M | 1.7% | ADD 74% |
| 17 | KIMKIMCO RLTY CORP | 2,694,298 | $61M | 1.3% | ADD 23% |
| 18 | INVHINVITATION HOMES INC | 2,306,008 | $57M | 1.2% | TRIM −27% |
| 19 | HSTHOST HOTELS & RESORTS INC | 2,097,777 | $40M | 0.8% | ADD 6% |
| 20 | HTOH2O AMERICA | 482,460 | $28M | 0.6% | ADD 106% |
| 21 | ETRENTERGY CORP NEW | 174,081 | $20M | 0.4% | ADD 3% |
| 22 | KMIKINDER MORGAN INC DEL | 543,660 | $18M | 0.4% | ADD 7% |
| 23 | JANJANUS LIVING INC | 675,000 | $16M | 0.3% | NEW |
| 24 | SRSPIRE INC | 162,379 | $15M | 0.3% | ADD 15% |
| 25 | BKHBLACK HILLS CORP | 171,708 | $12M | 0.3% | NEW |
| 26 | LNTALLIANT ENERGY CORP | 149,256 | $11M | 0.2% | TRIM −25% |
| 27 | NINISOURCE INC | 221,349 | $10M | 0.2% | TRIM −17% |
| 28 | CUZCOUSINS PPTYS INC | 442,437 | $10M | 0.2% | TRIM −85% |
| 29 | WMBWILLIAMS COS INC | 130,782 | $10M | 0.2% | ADD 166% |
| 30 | AEEAMEREN CORP | 83,114 | $9M | 0.2% | TRIM −7% |
| 31 | OGEOGE ENERGY CORP | 176,175 | $8M | 0.2% | ADD 476% |
| 32 | UNPUNION PAC CORP | 28,460 | $7M | 0.1% | ADD 3% |
| 33 | XELXCEL ENERGY INC | 81,364 | $6M | 0.1% | TRIM −5% |
| 34 | CEGCONSTELLATION ENERGY CORP | 20,045 | $6M | 0.1% | ADD 182% |
| 35 | PNWPINNACLE WEST CAP CORP | 45,712 | $5M | 0.1% | ADD 127% |
| 36 | CNPCENTERPOINT ENERGY INC | 42,072 | $2M | 0.0% | NEW |
| 37 | DUKDUKE ENERGY CORP NEW | 13,598 | $2M | 0.0% | TRIM −62% |
| 38 | PCGPG&E CORP | 74,890 | $1M | 0.0% | HOLD |
| 39 | AMTAMERICAN TOWER CORP | 6,791 | $1M | 0.0% | TRIM −70% |
| 40 | SOSOUTHERN CO | 11,400 | $1M | 0.0% | TRIM −81% |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| WELLWELLTOWER INC | 5.8M | 4.9M | 5.1M | 4.2M | 3.6M | 3.6M | $713M |
| EQIXEQUINIX INC | 639K | 560K | 586K | 601K | 562K | 648K | $635M |
| FRTFEDERAL RLTY INVT TR NEW | 3.5M | 2.9M | 3.3M | 3.2M | 3.3M | 3.6M | $387M |
| SPGSIMON PPTY GROUP INC NEW | 1.2M | 1.8M | 1.3M | 1.5M | 2.0M | 2.0M | $373M |
| DLRDIGITAL RLTY TR INC | 3.3M | 2.4M | 3.0M | 2.9M | 2.0M | 2.0M | $355M |
| VTRVENTAS INC | 7.1M | 7.9M | 7.0M | 6.6M | 5.2M | 4.2M | $343M |
| PLDPROLOGIS INC. | 2.5M | 2.2M | 2.5M | 2.6M | 3.1M | 2.4M | $312M |
| HRHEALTHCARE RLTY TR | — | — | — | 6.4M | 8.1M | 14.0M | $238M |
| VNOVORNADO RLTY TR | — | — | 1.3M | 5.4M | 5.6M | 7.5M | $194M |
| EXREXTRA SPACE STORAGE INC | 251K | 902K | 2.0M | 2.8M | 2.1M | 1.4M | $188M |
| ESSEssex Property Trust | 517K | 822K | 849K | 635K | 685K | 673K | $163M |
| EQREQUITY RESIDENTIAL | 4.9M | 5.1M | 5.1M | 3.2M | 2.1M | 2.0M | $121M |
| ELSEQUITY LIFESTYLE PPTYS INC | 2.0M | 1.9M | 1.6M | 2.3M | 1.8M | 1.9M | $118M |
| TRNOTERRENO RLTY CORP | 1.4M | 1.6M | 1.3M | 1.3M | 1.5M | 1.6M | $100M |
| MACMACERICH CO | — | — | — | — | 1.4M | 4.4M | $83M |
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.
