CIK 1637246
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) | 95.74% | 67 |
| Real Estate Management & Development | 3.86% | 6 |
| Hotels, Restaurants & Leisure | 0.37% | 1 |
| Unclassified | 0.03% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | PLD | Prologis, Inc. | Real Estate | 10.02% |
| 2 | EQIX | EQUINIX INC | Real Estate | 8.37% |
| 3 | WELL | WELLTOWER INC. | Real Estate | 7.40% |
| 4 | O | REALTY INCOME CORP | Real Estate | 5.06% |
| 5 | DLR | DIGITAL REALTY TRUST, INC. | Real Estate | 4.76% |
| 6 | SPG | SIMON PROPERTY GROUP INC. | Real Estate | 4.50% |
| 7 | PSA | Public Storage | Real Estate | 3.69% |
| 8 | VICI | VICI PROPERTIES INC. | Real Estate | 3.14% |
| 9 | VTR | Ventas, Inc. | Real Estate | 3.07% |
| 10 | IRM | IRON MOUNTAIN INC | Real Estate | 2.50% |
74/75 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: 93.4% of book weight (60/75 names) · unclassified 6.6%: WPC, STAG, MRP, XRN, REG, ARE, SKT, MPT, MAC, GNL +5 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 | PLDPROLOGIS INC. | 62,958 | $8M | 10.0% | ADD 8% |
| 2 | EQIXEQUINIX INC | 7,090 | $7M | 8.4% | ADD 11% |
| 3 | WELLWELLTOWER INC | 31,059 | $6M | 7.4% | ADD 9% |
| 4 | OREALTY INCOME CORP | 68,738 | $4M | 5.1% | TRIM −27% |
| 5 | DLRDIGITAL RLTY TR INC | 21,947 | $4M | 4.8% | ADD 2% |
| 6 | SPGSIMON PPTY GROUP INC NEW | 20,006 | $4M | 4.5% | ADD 7% |
| 7 | PSAPUBLIC STORAGE OPER CO | 11,313 | $3M | 3.7% | TRIM −24% |
| 8 | VICIVICI PPTYS INC | 95,500 | $3M | 3.1% | TRIM −32% |
| 9 | VTRVENTAS INC | 31,205 | $3M | 3.1% | ADD 3% |
| 10 | IRMIRON MTN INC DEL | 20,300 | $2M | 2.5% | ADD 8% |
| 11 | AVBAVALONBAY CMNTYS INC | 10,502 | $2M | 2.1% | ADD 5% |
| 12 | DOCHEALTHPEAK PROPERTIES INC | 94,755 | $2M | 1.9% | HOLD |
| 13 | EQREQUITY RESIDENTIAL | 25,853 | $2M | 1.8% | ADD 4% |
| 14 | WPCW. P. Carey Inc. | 22,304 | $2M | 1.8% | TRIM −48% |
| 15 | INVHINVITATION HOMES INC | 52,265 | $1M | 1.6% | ADD 8% |
| 16 | EXREXTRA SPACE STORAGE INC | 9,855 | $1M | 1.6% | ADD 11% |
| 17 | BRXBRIXMOR PPTY GROUP INC | 44,211 | $1M | 1.5% | ADD 10% |
| 18 | ESSEssex Property Trust | 4,850 | $1M | 1.4% | ADD 7% |
| 19 | LAMRLAMAR ADVERTISING CO | 8,600 | $1M | 1.3% | ADD 6% |
| 20 | NNNNNN REIT INC | 25,300 | $1M | 1.3% | ADD 11% |
| 21 | OHIOMEGA HEALTHCARE INVS INC | 23,000 | $1M | 1.2% | HOLD |
| 22 | HSTHOST HOTELS & RESORTS INC | 51,843 | $993,000 | 1.2% | ADD 6% |
| 23 | STAGSTAG INDL INC | 27,363 | $987,000 | 1.2% | HOLD |
| 24 | MAAMID-AMER APT CMNTYS INC | 7,850 | $959,000 | 1.2% | ADD 7% |
| 25 | AMHAMERICAN HOMES 4 RENT | 34,000 | $949,000 | 1.1% | TRIM −46% |
| 26 | CUBECUBESMART | 25,700 | $942,000 | 1.1% | ADD 8% |
| 27 | SBRASABRA HEALTH CARE REIT INC | 48,874 | $940,000 | 1.1% | HOLD |
| 28 | EPREPR PPTYS | 17,300 | $864,000 | 1.0% | HOLD |
| 29 | LXPLXP INDUSTRIAL TRUST | 18,400 | $851,000 | 1.0% | HOLD |
| 30 | EPRTESSENTIAL PPTYS RLTY TR INC | 27,500 | $835,000 | 1.0% | HOLD |
| 31 | BNLBROADSTONE NET LEASE INC | 44,000 | $804,000 | 1.0% | HOLD |
| 32 | GTYGETTY RLTY CORP NEW | 24,500 | $779,000 | 0.9% | HOLD |
| 33 | CPTCAMDEN PPTY TR | 7,531 | $735,000 | 0.9% | ADD 7% |
| 34 | LTCLTC PPTYS INC | 19,500 | $725,000 | 0.9% | ADD 33% |
| 35 | KRGKITE RLTY GROUP TR | 29,400 | $722,000 | 0.9% | HOLD |
| 36 | UDRUDR INC | 20,888 | $706,000 | 0.9% | HOLD |
| 37 | CTRECareTrust REIT, Inc. | 19,000 | $696,000 | 0.8% | HOLD |
| 38 | SILASILA REALTY TRUST INC | 29,000 | $687,000 | 0.8% | ADD 45% |
| 39 | MRPMILLROSE PPTYS INC | 22,000 | $616,000 | 0.7% | ADD 22% |
| 40 | UMHUMH PPTYS INC | 42,564 | $614,000 | 0.7% | ADD 73% |
| 41 | KIMKIMCO RLTY CORP | 26,295 | $591,000 | 0.7% | ADD 44% |
| 42 | OUTOUTFRONT MEDIA INC | 21,808 | $578,000 | 0.7% | HOLD |
| 43 | HRHEALTHCARE RLTY TR | 32,582 | $554,000 | 0.7% | HOLD |
| 44 | COLDAMERICOLD REALTY TRUST INC | 47,200 | $541,000 | 0.7% | HOLD |
| 45 | CUZCOUSINS PPTYS INC | 23,400 | $528,000 | 0.6% | HOLD |
| 46 | FCPTFOUR CORNERS PPTY TR INC | 20,500 | $485,000 | 0.6% | ADD 41% |
| 47 | XRNGLOBAL MED REIT INC | 14,140 | $468,000 | 0.6% | ADD 10% |
| 48 | REGREGENCY CTRS CORP | 5,399 | $408,000 | 0.5% | TRIM −72% |
| 49 | AREALEXANDRIA REAL ESTATE EQ IN | 8,750 | $406,000 | 0.5% | HOLD |
| 50 | BXPBXP INC | 7,014 | $364,000 | 0.4% | ADD 13% |
| 51 | IRTINDEPENDENCE RLTY TR INC | 23,000 | $342,000 | 0.4% | HOLD |
| 52 | CHCTCOMMUNITY HEALTHCARE TR INC | 20,000 | $318,000 | 0.4% | HOLD |
| 53 | PKPARK HOTELS & RESORTS INC | 29,106 | $306,000 | 0.4% | HOLD |
| 54 | PECOPHILLIPS EDISON & CO INC | 8,000 | $299,000 | 0.4% | NEW |
| 55 | NHINATIONAL HEALTH INVS INC | 3,500 | $283,000 | 0.3% | HOLD |
| 56 | CSRCENTERSPACE | 4,519 | $260,000 | 0.3% | HOLD |
| 57 | CURBCURBLINE PPTYS CORP | 10,000 | $258,000 | 0.3% | HOLD |
| 58 | RLJRLJ LODGING TR | 31,100 | $231,000 | 0.3% | HOLD |
| 59 | IIPRINNOVATIVE INDL PPTYS INC | 4,404 | $221,000 | 0.3% | HOLD |
| 60 | KRCKILROY RLTY CORP | 7,500 | $212,000 | 0.3% | ADD 36% |
| 61 | HIWHIGHWOODS PPTYS INC | 9,698 | $208,000 | 0.3% | HOLD |
| 62 | SKTTANGER INC | 6,000 | $204,000 | 0.2% | HOLD |
| 63 | MPTMEDICAL PPTYS TRUST INC | 43,500 | $201,000 | 0.2% | HOLD |
| 64 | APLEApple Hospitality REIT, Inc. | 16,000 | $184,000 | 0.2% | HOLD |
| 65 | MACMACERICH CO | 8,692 | $164,000 | 0.2% | HOLD |
| 66 | VNOVORNADO RLTY TR | 6,237 | $162,000 | 0.2% | HOLD |
| 67 | GNLGLOBAL NET LEASE INC | 14,492 | $136,000 | 0.2% | HOLD |
| 68 | BDNBRANDYWINE RLTY TR | 46,500 | $126,000 | 0.2% | HOLD |
| 69 | CLDTCHATHAM LODGING TR | 15,000 | $118,000 | 0.1% | HOLD |
| 70 | NSANATIONAL STORAGE AFFILIATES | 2,600 | $98,000 | 0.1% | HOLD |
| 71 | INNSUMMIT HOTEL PPTYS INC | 18,700 | $83,000 | 0.1% | HOLD |
| 72 | PEBPEBBLEBROOK HOTEL TR | 6,355 | $80,000 | 0.1% | HOLD |
| 73 | HPPHUDSON PAC PPTYS INC | 5,428 | $32,000 | 0.0% | HOLD |
| 74 | SITCSITE CTRS CORP | 5,000 | $27,000 | 0.0% | HOLD |
| 75 | POWER REIT | 29,948 | $25,000 | 0.0% | HOLD |
| 76 | IMAIMAGENEBIO INC | 108 | $0 | 0.0% | TRIM −100% |
| 77 | NEW YORK REIT INC liquidation shs | 2,200 | $0 | 0.0% | HOLD |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| PLDPROLOGIS INC. | 65K | 58K | 61K | 58K | 58K | 63K | $8M |
| EQIXEQUINIX INC | 5K | 5K | 5K | 6K | 6K | 7K | $7M |
| WELLWELLTOWER INC | 29K | 28K | 29K | 29K | 29K | 31K | $6M |
| OREALTY INCOME CORP | 105K | 95K | 98K | 94K | 94K | 69K | $4M |
| DLRDIGITAL RLTY TR INC | 24K | 22K | 23K | 21K | 21K | 22K | $4M |
| SPGSIMON PPTY GROUP INC NEW | 24K | 19K | 20K | 19K | 19K | 20K | $4M |
| PSAPUBLIC STORAGE OPER CO | 12K | 10K | 11K | 10K | 15K | 11K | $3M |
| VICIVICI PPTYS INC | 154K | 141K | 145K | 139K | 141K | 96K | $3M |
| VTRVENTAS INC | 36K | 32K | 32K | 30K | 30K | 31K | $3M |
| IRMIRON MTN INC DEL | 22K | 19K | 19K | 18K | 19K | 20K | $2M |
| AVBAVALONBAY CMNTYS INC | 11K | 10K | 11K | 10K | 10K | 11K | $2M |
| DOCHEALTHPEAK PROPERTIES INC | 112K | 100K | 100K | 95K | 95K | 95K | $2M |
| EQREQUITY RESIDENTIAL | 28K | 25K | 27K | 25K | 25K | 26K | $2M |
| WPCW. P. Carey Inc. | 52K | 44K | 46K | 44K | 43K | 22K | $2M |
| INVHINVITATION HOMES INC | 46K | 41K | 45K | 48K | 48K | 52K | $1M |
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.
