CIK 1904664
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) | 99.45% | 42 |
| Real Estate Management & Development | 0.39% | 2 |
| Unclassified | 0.16% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | EQIX | EQUINIX INC | Real Estate | 9.07% |
| 2 | DLR | DIGITAL REALTY TRUST, INC. | Real Estate | 7.60% |
| 3 | SPG | SIMON PROPERTY GROUP INC. | Real Estate | 7.51% |
| 4 | PLD | Prologis, Inc. | Real Estate | 7.44% |
| 5 | WELL | WELLTOWER INC. | Real Estate | 7.19% |
| 6 | AMT | AMERICAN TOWER CORP /MA/ | Real Estate | 7.13% |
| 7 | VTR | Ventas, Inc. | Real Estate | 6.10% |
| 8 | IRM | IRON MOUNTAIN INC | Real Estate | 4.75% |
| 9 | EXR | Extra Space Storage Inc. | Real Estate | 4.38% |
| 10 | AVB | AVALONBAY COMMUNITIES INC | Real Estate | 3.62% |
44/45 names classified · sector 99.8% of weight · industry 99.8% · mkt cap 99.8%; 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: 99.8% of the book is sector-classified (unclassified names shown, never dropped).
Classified: 94.2% of book weight (36/45 names) · unclassified 5.8%: REG, STAG, ARE, MAC, SLG, , JBGS, BDN, HPP. 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 | EQIXEQUINIX INC | 29,162 | $29M | 9.1% | HOLD |
| 2 | DLRDIGITAL RLTY TR INC | 132,900 | $24M | 7.6% | TRIM −6% |
| 3 | SPGSIMON PPTY GROUP INC NEW | 126,791 | $24M | 7.5% | ADD 5% |
| 4 | PLDPROLOGIS INC. | 177,452 | $23M | 7.4% | ADD 2% |
| 5 | WELLWELLTOWER INC | 114,605 | $23M | 7.2% | HOLD |
| 6 | AMTAMERICAN TOWER CORP | 130,238 | $22M | 7.1% | ADD 4% |
| 7 | VTRVENTAS INC | 235,078 | $19M | 6.1% | ADD 4% |
| 8 | IRMIRON MTN INC DEL | 146,406 | $15M | 4.7% | ADD 4% |
| 9 | EXREXTRA SPACE STORAGE INC | 105,224 | $14M | 4.4% | HOLD |
| 10 | AVBAVALONBAY CMNTYS INC | 69,769 | $11M | 3.6% | HOLD |
| 11 | EQREQUITY RESIDENTIAL | 176,172 | $10M | 3.3% | HOLD |
| 12 | KIMKIMCO RLTY CORP | 336,205 | $8M | 2.4% | HOLD |
| 13 | ESSEssex Property Trust | 30,462 | $7M | 2.3% | HOLD |
| 14 | MAAMID-AMER APT CMNTYS INC | 55,954 | $7M | 2.2% | TRIM −2% |
| 15 | HSTHOST HOTELS & RESORTS INC | 340,989 | $7M | 2.1% | HOLD |
| 16 | REGREGENCY CTRS CORP | 85,802 | $6M | 2.1% | HOLD |
| 17 | ELSEQUITY LIFESTYLE PPTYS INC | 91,194 | $6M | 1.8% | HOLD |
| 18 | DOCHEALTHPEAK PROPERTIES INC | 345,412 | $6M | 1.8% | HOLD |
| 19 | UDRUDR INC | 154,165 | $5M | 1.7% | HOLD |
| 20 | CPTCAMDEN PPTY TR | 49,818 | $5M | 1.5% | ADD 74% |
| 21 | BRXBRIXMOR PPTY GROUP INC | 147,174 | $4M | 1.3% | HOLD |
| 22 | FRTFEDERAL RLTY INVT TR NEW | 39,864 | $4M | 1.3% | ADD 3% |
| 23 | REXRREXFORD INDL RLTY INC | 115,021 | $4M | 1.2% | TRIM −3% |
| 24 | BXPBXP INC | 69,856 | $4M | 1.2% | TRIM −2% |
| 25 | STAGSTAG INDL INC | 95,788 | $3M | 1.1% | ADD 9% |
| 26 | AREALEXANDRIA REAL ESTATE EQ IN | 74,376 | $3M | 1.1% | HOLD |
| 27 | KRGKITE RLTY GROUP TR | 96,240 | $2M | 0.7% | ADD 130% |
| 28 | MACMACERICH CO | 123,105 | $2M | 0.7% | HOLD |
| 29 | PECOPHILLIPS EDISON & CO INC | 61,202 | $2M | 0.7% | HOLD |
| 30 | VNOVORNADO RLTY TR | 79,340 | $2M | 0.7% | ADD 3% |
| 31 | CUZCOUSINS PPTYS INC | 86,015 | $2M | 0.6% | TRIM −3% |
| 32 | COLDAMERICOLD REALTY TRUST INC | 133,882 | $2M | 0.5% | HOLD |
| 33 | KRCKILROY RLTY CORP | 54,168 | $2M | 0.5% | HOLD |
| 34 | LXPLXP INDUSTRIAL TRUST | 28,221 | $1M | 0.4% | HOLD |
| 35 | SLGSL GREEN RLTY CORP | 34,173 | $1M | 0.4% | TRIM −6% |
| 36 | UEURBAN EDGE PPTYS | 55,782 | $1M | 0.4% | ADD 4% |
| 37 | DRHDIAMONDROCK HOSPITALITY CO | 100,822 | $944,702 | 0.3% | HOLD |
| 38 | UMHUMH PPTYS INC | 37,726 | $544,386 | 0.2% | HOLD |
| 39 | MACK CALI RLTY CORP | 26,298 | $496,243 | 0.2% | TRIM −33% |
| 40 | JBGSJBG SMITH PPTYS | 31,371 | $458,330 | 0.1% | TRIM −2% |
| 41 | CSRCENTERSPACE | 7,335 | $421,396 | 0.1% | HOLD |
| 42 | AATAMERICAN ASSETS TR INC | 20,869 | $384,198 | 0.1% | HOLD |
| 43 | ESRTEMPIRE ST RLTY TR INC | 56,073 | $291,580 | 0.1% | TRIM −5% |
| 44 | BDNBRANDYWINE RLTY TR | 66,296 | $179,662 | 0.1% | TRIM −9% |
| 45 | HPPHUDSON PAC PPTYS INC | 18,047 | $106,658 | 0.0% | HOLD |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| EQIXEQUINIX INC | 24K | 24K | 24K | 27K | 30K | 29K | $29M |
| DLRDIGITAL RLTY TR INC | 128K | 139K | 126K | 131K | 141K | 133K | $24M |
| SPGSIMON PPTY GROUP INC NEW | 125K | 123K | 123K | 129K | 121K | 127K | $24M |
| PLDPROLOGIS INC. | 183K | 173K | 184K | 193K | 174K | 177K | $23M |
| WELLWELLTOWER INC | 181K | 139K | 133K | 138K | 116K | 115K | $23M |
| AMTAMERICAN TOWER CORP | 102K | 100K | 93K | 103K | 126K | 130K | $22M |
| VTRVENTAS INC | 181K | 198K | 197K | 207K | 226K | 235K | $19M |
| IRMIRON MTN INC DEL | 129K | 136K | 129K | 135K | 141K | 146K | $15M |
| EXREXTRA SPACE STORAGE INC | 93K | 99K | 93K | 97K | 103K | 105K | $14M |
| AVBAVALONBAY CMNTYS INC | 63K | 67K | 63K | 65K | 70K | 70K | $11M |
| EQREQUITY RESIDENTIAL | 150K | 159K | 146K | 160K | 175K | 176K | $10M |
| KIMKIMCO RLTY CORP | 298K | 316K | 300K | 307K | 336K | 336K | $8M |
| ESSEssex Property Trust | 28K | 30K | 28K | 29K | 31K | 30K | $7M |
| MAAMID-AMER APT CMNTYS INC | 51K | 54K | 51K | 53K | 57K | 56K | $7M |
| HSTHOST HOTELS & RESORTS INC | 309K | 329K | 310K | 310K | 340K | 341K | $7M |
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.
