CIK 1705265
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) | 91.42% | 39 |
| Health Care Providers & Services | 4.01% | 1 |
| Real Estate Management & Development | 3.03% | 2 |
| Hotels, Restaurants & Leisure | 1.20% | 2 |
| Unclassified | 0.34% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | PLD | Prologis, Inc. | Real Estate | 11.99% |
| 2 | WELL | WELLTOWER INC. | Real Estate | 11.52% |
| 3 | EQIX | EQUINIX INC | Real Estate | 10.05% |
| 4 | DLR | DIGITAL REALTY TRUST, INC. | Real Estate | 7.02% |
| 5 | SNDA | SONIDA SENIOR LIVING, INC. | Health Care | 4.01% |
| 6 | SPG | SIMON PROPERTY GROUP INC. | Real Estate | 3.73% |
| 7 | EQR | EQUITY RESIDENTIAL | Real Estate | 3.55% |
| 8 | EXR | Extra Space Storage Inc. | Real Estate | 3.37% |
| 9 | CUBE | CubeSmart | Real Estate | 3.37% |
| 10 | FRT | FEDERAL REALTY INVESTMENT TRUST | Real Estate | 3.32% |
44/45 names classified · sector 99.7% of weight · industry 99.7% · 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: 99.7% of the book is sector-classified (unclassified names shown, never dropped).
Classified: 92.6% of book weight (37/45 names) · unclassified 7.4%: SNDA, SLG, IYR, MAC, SMA, MPT, BDN, GNL. 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. | 487,233 | $64M | 12.0% | ADD 6% |
| 2 | WELLWELLTOWER INC | 312,963 | $62M | 11.5% | ADD 83% |
| 3 | EQIXEQUINIX INC | 55,073 | $54M | 10.0% | TRIM −13% |
| 4 | DLRDIGITAL RLTY TR INC | 209,349 | $38M | 7.0% | ADD 2% |
| 5 | SNDASONIDA SENIOR LIVING INC | 668,647 | $22M | 4.0% | TRIM −14% |
| 6 | SPGSIMON PPTY GROUP INC NEW | 107,424 | $20M | 3.7% | TRIM −38% |
| 7 | EQREQUITY RESIDENTIAL | 321,976 | $19M | 3.5% | TRIM −24% |
| 8 | EXREXTRA SPACE STORAGE INC | 138,260 | $18M | 3.4% | TRIM −19% |
| 9 | CUBECUBESMART | 494,360 | $18M | 3.4% | HOLD |
| 10 | FRTFEDERAL RLTY INVT TR NEW | 167,710 | $18M | 3.3% | ADD 20% |
| 11 | HSTHOST HOTELS & RESORTS INC | 902,810 | $17M | 3.2% | ADD 50% |
| 12 | BRXBRIXMOR PPTY GROUP INC | 595,420 | $17M | 3.2% | ADD 4% |
| 13 | EPRTESSENTIAL PPTYS RLTY TR INC | 554,738 | $17M | 3.1% | ADD 11% |
| 14 | ADCAGREE RLTY CORP | 214,369 | $16M | 3.0% | ADD 22% |
| 15 | CBRECBRE GROUP INC | 113,644 | $15M | 2.9% | ADD 13% |
| 16 | BNLBROADSTONE NET LEASE INC | 804,500 | $15M | 2.7% | TRIM −3% |
| 17 | EGPEASTGROUP PPTYS INC | 78,905 | $15M | 2.7% | ADD 14% |
| 18 | SLGSL GREEN RLTY CORP | 390,504 | $14M | 2.7% | ADD 26% |
| 19 | GLPIGAMING & LEISURE P | 324,630 | $14M | 2.7% | ADD 5028% |
| 20 | CPTCAMDEN PPTY TR | 145,846 | $14M | 2.7% | TRIM −38% |
| 21 | UDRUDR INC | 325,580 | $11M | 2.0% | NEW |
| 22 | VTRVENTAS INC | 123,065 | $10M | 1.9% | TRIM −57% |
| 23 | CCICROWN CASTLE INC | 119,720 | $10M | 1.8% | ADD 7% |
| 24 | HLTHILTON WORLDWIDE HLDGS INC | 19,360 | $6M | 1.1% | TRIM −56% |
| 25 | IYRISHARES TR | 19,190 | $2M | 0.3% | NEW |
| 26 | MACMACERICH CO | 46,680 | $882,252 | 0.2% | ADD 96% |
| 27 | AVBAVALONBAY CMNTYS INC | 5,370 | $877,190 | 0.2% | ADD 158% |
| 28 | INVHINVITATION HOMES INC | 35,085 | $871,862 | 0.2% | TRIM −95% |
| 29 | SUISUN CMNTYS INC | 6,720 | $846,451 | 0.2% | NEW |
| 30 | LXPLXP INDUSTRIAL TRUST | 17,938 | $829,812 | 0.2% | ADD 60% |
| 31 | HIWHIGHWOODS PPTYS INC | 34,473 | $738,067 | 0.1% | ADD 229% |
| 32 | RHPRYMAN HOSPITALITY PPTYS INC | 5,940 | $548,084 | 0.1% | ADD 51% |
| 33 | PKPARK HOTELS & RESORTS INC | 52,030 | $547,876 | 0.1% | ADD 228% |
| 34 | KIMKIMCO RLTY CORP | 23,930 | $537,707 | 0.1% | TRIM −11% |
| 35 | CUZCOUSINS PPTYS INC | 23,790 | $536,940 | 0.1% | NEW |
| 36 | AMTAMERICAN TOWER CORP | 3,015 | $520,329 | 0.1% | ADD 41% |
| 37 | SMASMARTSTOP SELF STORAG REIT I | 16,990 | $514,457 | 0.1% | NEW |
| 38 | AHRAMERICAN HEALTHCARE REIT INC | 10,360 | $488,578 | 0.1% | NEW |
| 39 | MPTMEDICAL PPTYS TRUST INC | 103,510 | $479,251 | 0.1% | NEW |
| 40 | COLDAMERICOLD REALTY TRUST INC | 28,800 | $330,048 | 0.1% | NEW |
| 41 | AKRACADIA RLTY TR | 17,260 | $330,011 | 0.1% | NEW |
| 42 | IRTINDEPENDENCE RLTY TR INC | 21,990 | $327,431 | 0.1% | NEW |
| 43 | EPREPR PPTYS | 6,320 | $315,747 | 0.1% | NEW |
| 44 | BDNBRANDYWINE RLTY TR | 47,140 | $127,749 | 0.0% | NEW |
| 45 | GNLGLOBAL NET LEASE INC | 13,300 | $124,488 | 0.0% | NEW |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| PLDPROLOGIS INC. | 352K | 488K | 456K | 462K | 459K | 487K | $64M |
| WELLWELLTOWER INC | 241K | 259K | 275K | 215K | 171K | 313K | $62M |
| EQIXEQUINIX INC | 54K | 56K | 50K | 44K | 63K | 55K | $54M |
| DLRDIGITAL RLTY TR INC | 282K | 151K | 261K | 264K | 205K | 209K | $38M |
| SNDASONIDA SENIOR LIVING INC | 1.1M | 1.0M | 970K | 890K | 777K | 669K | $22M |
| SPGSIMON PPTY GROUP INC NEW | — | 2K | 124K | 159K | 172K | 107K | $20M |
| EQREQUITY RESIDENTIAL | 329K | 452K | 480K | 447K | 424K | 322K | $19M |
| EXREXTRA SPACE STORAGE INC | — | — | — | 161K | 170K | 138K | $18M |
| CUBECUBESMART | — | — | 508K | 573K | 504K | 494K | $18M |
| FRTFEDERAL RLTY INVT TR NEW | — | — | — | — | 140K | 168K | $18M |
| HSTHOST HOTELS & RESORTS INC | — | 11K | — | 18K | 604K | 903K | $17M |
| BRXBRIXMOR PPTY GROUP INC | — | 440K | 403K | 707K | 570K | 595K | $17M |
| EPRTESSENTIAL PPTYS RLTY TR INC | 633K | — | — | 640K | 500K | 555K | $17M |
| ADCAGREE RLTY CORP | 335K | 287K | 305K | 233K | 175K | 214K | $16M |
| CBRECBRE GROUP INC | 138K | 140K | 149K | 119K | 101K | 114K | $15M |
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.
