CIK 765443
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 |
|---|---|---|
| Utilities | 45.10% | 52 |
| Equity Real Estate Investment Trusts (REITs) | 44.61% | 40 |
| Oil, Gas & Consumable Fuels | 2.91% | 7 |
| Diversified Telecommunication Services | 2.43% | 4 |
| Road & Rail | 1.52% | 3 |
| Machinery | 1.14% | 7 |
| Technology Hardware & Equipment | 0.55% | 5 |
| Chemicals | 0.41% | 2 |
| Commercial Services & Supplies | 0.26% | 2 |
| Distributors | 0.25% | 3 |
| Construction & Engineering | 0.23% | 1 |
| Electrical Equipment & Components | 0.14% | 4 |
| Professional Services | 0.13% | 3 |
| Semiconductors & Semiconductor Equipment | 0.12% | 6 |
| Unclassified | 0.11% | 6 |
| Airlines | 0.05% | 1 |
| Real Estate Management & Development | 0.03% | 1 |
| Metals & Mining | 0.01% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | WELL | WELLTOWER INC. | Real Estate | 5.40% |
| 2 | EQIX | EQUINIX INC | Real Estate | 4.81% |
| 3 | PLD | Prologis, Inc. | Real Estate | 4.10% |
| 4 | DLR | DIGITAL REALTY TRUST, INC. | Real Estate | 2.89% |
| 5 | VTR | Ventas, Inc. | Real Estate | 2.22% |
| 6 | SRE | SEMPRA | Utilities | 2.11% |
| 7 | XEL | XCEL ENERGY INC | Utilities | 2.00% |
| 8 | NEE | NEXTERA ENERGY INC | Utilities | 1.85% |
| 9 | ETR | ENTERGY CORP /DE/ | Utilities | 1.79% |
| 10 | CNP | CENTERPOINT ENERGY INC | Utilities | 1.73% |
142/148 names classified · sector 99.9% of weight · industry 99.9% · mkt cap 94.0%; 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: 99.9% of the book is sector-classified (unclassified names shown, never dropped).
Classified: 89.2% of book weight (116/148 names) · unclassified 10.8%: TRP, EMA, MPLX, ET, ENB, FTS, EPD, PBA, TU, CP +22 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 | WELLWELLTOWER INC | 2,632,540 | $520M | 5.4% | HOLD |
| 2 | EQIXEQUINIX INC | 472,583 | $463M | 4.8% | HOLD |
| 3 | PLDPROLOGIS INC. | 2,989,856 | $395M | 4.1% | TRIM −5% |
| 4 | DLRDIGITAL RLTY TR INC | 1,546,930 | $279M | 2.9% | HOLD |
| 5 | VTRVENTAS INC | 2,611,874 | $214M | 2.2% | HOLD |
| 6 | SRESEMPRA | 2,086,667 | $203M | 2.1% | HOLD |
| 7 | XELXCEL ENERGY INC | 2,424,903 | $193M | 2.0% | ADD 3% |
| 8 | NEENEXTERA ENERGY INC | 1,921,380 | $178M | 1.9% | TRIM −7% |
| 9 | ETRENTERGY CORP NEW | 1,532,230 | $172M | 1.8% | TRIM −3% |
| 10 | CNPCENTERPOINT ENERGY INC | 3,866,699 | $167M | 1.7% | HOLD |
| 11 | SPGSIMON PPTY GROUP INC NEW | 867,361 | $162M | 1.7% | HOLD |
| 12 | IRMIRON MTN INC DEL | 1,575,337 | $161M | 1.7% | HOLD |
| 13 | AMTAMERICAN TOWER CORP | 920,890 | $159M | 1.7% | HOLD |
| 14 | PSAPUBLIC STORAGE OPER CO | 553,190 | $150M | 1.6% | ADD 23% |
| 15 | NINISOURCE INC | 3,106,640 | $145M | 1.5% | HOLD |
| 16 | WMBWILLIAMS COS INC | 1,932,786 | $141M | 1.5% | ADD 4% |
| 17 | LNTALLIANT ENERGY CORP | 1,898,175 | $136M | 1.4% | HOLD |
| 18 | EVRGEVERGY INC | 1,655,860 | $136M | 1.4% | TRIM −4% |
| 19 | AVBAVALONBAY CMNTYS INC | 806,750 | $132M | 1.4% | TRIM −14% |
| 20 | BRXBRIXMOR PPTY GROUP INC | 4,482,893 | $129M | 1.3% | HOLD |
| 21 | AMHAMERICAN HOMES 4 RENT | 4,576,997 | $128M | 1.3% | HOLD |
| 22 | TRGPTARGA RES CORP | 509,397 | $128M | 1.3% | TRIM −3% |
| 23 | AEEAMEREN CORP | 1,159,881 | $127M | 1.3% | TRIM −4% |
| 24 | FRFIRST INDL RLTY TR INC | 2,195,608 | $127M | 1.3% | HOLD |
| 25 | DUKDUKE ENERGY CORP NEW | 896,997 | $117M | 1.2% | HOLD |
| 26 | DTEDTE ENERGY CO | 792,462 | $116M | 1.2% | HOLD |
| 27 | PPLPPL CORP | 3,015,392 | $115M | 1.2% | HOLD |
| 28 | WECWEC ENERGY GROUP INC | 981,349 | $114M | 1.2% | HOLD |
| 29 | CMSCMS ENERGY CORP | 1,453,667 | $113M | 1.2% | HOLD |
| 30 | ATOATMOS ENERGY CORP | 607,945 | $112M | 1.2% | TRIM −7% |
| 31 | LNGCheniere Energy, Inc | 371,015 | $105M | 1.1% | TRIM −20% |
| 32 | EPRTESSENTIAL PPTYS RLTY TR INC | 3,431,442 | $104M | 1.1% | HOLD |
| 33 | MAAMID-AMER APT CMNTYS INC | 849,743 | $104M | 1.1% | HOLD |
| 34 | SOSOUTHERN CO | 1,073,294 | $104M | 1.1% | TRIM −13% |
| 35 | TRPTC ENERGY CORP | 1,626,340 | $102M | 1.1% | TRIM −4% |
| 36 | OGEOGE ENERGY CORP | 2,096,384 | $101M | 1.0% | HOLD |
| 37 | CUBECUBESMART | 2,737,656 | $100M | 1.0% | HOLD |
| 38 | AEPAMERICAN ELEC PWR CO INC | 762,162 | $100M | 1.0% | HOLD |
| 39 | EMAEMERA INC | 1,349,450 | $97M | 1.0% | NEW |
| 40 | DDOMINION ENERGY INC | 1,572,229 | $97M | 1.0% | ADD 5% |
| 41 | CCICROWN CASTLE INC | 1,193,028 | $97M | 1.0% | HOLD |
| 42 | PEGPUBLIC SVC ENTERPRISE GROUP | 1,179,584 | $95M | 1.0% | HOLD |
| 43 | MPLXMPLX LP | 1,668,467 | $95M | 1.0% | TRIM −9% |
| 44 | OKEONEOK INC NEW | 1,030,679 | $93M | 1.0% | ADD 44% |
| 45 | ELSEQUITY LIFESTYLE PPTYS INC | 1,464,385 | $91M | 0.9% | TRIM −5% |
| 46 | TAT&T INC | 3,140,500 | $91M | 0.9% | HOLD |
| 47 | PCGPG&E CORP | 5,078,983 | $89M | 0.9% | TRIM −3% |
| 48 | WTRGESSENTIAL UTILS INC | 2,188,784 | $88M | 0.9% | HOLD |
| 49 | SRSPIRE INC | 932,582 | $84M | 0.9% | TRIM −5% |
| 50 | ETENERGY TRANSFER L P | 4,346,738 | $84M | 0.9% | ADD 15% |
| 51 | ENBENBRIDGE INC | 1,539,163 | $83M | 0.9% | ADD 13% |
| 52 | ESSEssex Property Trust | 326,257 | $79M | 0.8% | HOLD |
| 53 | FTSFORTIS INC | 981,900 | $76M | 0.8% | HOLD |
| 54 | ADCAGREE RLTY CORP | 1,010,118 | $76M | 0.8% | ADD 5% |
| 55 | AWKAMERICAN WTR WKS CO INC NEW | 552,780 | $75M | 0.8% | ADD 23% |
| 56 | RHPRYMAN HOSPITALITY PPTYS INC | 780,153 | $72M | 0.7% | HOLD |
| 57 | PECOPHILLIPS EDISON & CO INC | 1,801,516 | $67M | 0.7% | HOLD |
| 58 | VZVERIZON COMMUNICATIONS INC | 1,339,489 | $67M | 0.7% | HOLD |
| 59 | FEFIRSTENERGY CORP | 1,304,500 | $66M | 0.7% | HOLD |
| 60 | PNWPINNACLE WEST CAP CORP | 624,930 | $63M | 0.7% | HOLD |
| 61 | UNPUNION PAC CORP | 256,470 | $62M | 0.6% | ADD 24% |
| 62 | EPDENTERPRISE PRODS PARTNERS L | 1,560,173 | $59M | 0.6% | HOLD |
| 63 | DTMDT MIDSTREAM INC | 420,186 | $57M | 0.6% | ADD 14% |
| 64 | SBRASABRA HEALTH CARE REIT INC | 2,828,445 | $54M | 0.6% | HOLD |
| 65 | PBAPEMBINA PIPELINE CORP | 859,602 | $53M | 0.5% | TRIM −11% |
| 66 | AHRAMERICAN HEALTHCARE REIT INC | 1,083,175 | $51M | 0.5% | ADD 230% |
| 67 | GLPIGAMING & LEISURE P | 1,136,549 | $50M | 0.5% | HOLD |
| 68 | KMIKINDER MORGAN INC DEL | 1,503,744 | $50M | 0.5% | TRIM −38% |
| 69 | OGSONE GAS INC | 576,000 | $50M | 0.5% | HOLD |
| 70 | CUZCOUSINS PPTYS INC | 2,130,177 | $48M | 0.5% | HOLD |
| 71 | TUTELUS CORPORATION | 2,666,500 | $48M | 0.5% | HOLD |
| 72 | CPCANADIAN PACIFIC KANSAS CITY | 424,550 | $46M | 0.5% | ADD 15% |
| 73 | BXPBXP INC | 888,831 | $46M | 0.5% | HOLD |
| 74 | AREALEXANDRIA REAL ESTATE EQ IN | 972,721 | $45M | 0.5% | TRIM −3% |
| 75 | SBSCOMPANHIA DE SANEAMENTO BASI | 1,447,185 | $44M | 0.5% | HOLD |
| 76 | PEBPEBBLEBROOK HOTEL TR | 3,186,450 | $40M | 0.4% | NEW |
| 77 | VNOVORNADO RLTY TR | 1,535,960 | $40M | 0.4% | ADD 5% |
| 78 | PAAPLAINS ALL AMERN PIPELINE L | 1,776,900 | $40M | 0.4% | TRIM −18% |
| 79 | REXRREXFORD INDL RLTY INC | 1,157,445 | $38M | 0.4% | HOLD |
| 80 | CSXCSX CORP | 912,188 | $37M | 0.4% | ADD 13% |
| 81 | VLTOVERALTO CORP | 412,587 | $36M | 0.4% | ADD 16% |
| 82 | XYLXYLEM INC | 304,391 | $36M | 0.4% | TRIM −18% |
| 83 | NWNNORTHWEST NAT HLDG CO | 613,090 | $33M | 0.3% | TRIM −28% |
| 84 | BKHBLACK HILLS CORP | 459,540 | $32M | 0.3% | ADD 18% |
| 85 | ESEVERSOURCE ENERGY | 424,140 | $29M | 0.3% | TRIM −30% |
| 86 | BCEBCE INC | 1,127,288 | $28M | 0.3% | HOLD |
| 87 | SMASMARTSTOP SELF STORAG REIT I | 831,755 | $25M | 0.3% | TRIM −24% |
| 88 | FERFERROVIAL SE | 395,900 | $22M | 0.2% | NEW |
| 89 | KIMKIMCO RLTY CORP | 956,321 | $21M | 0.2% | ADD 2% |
| 90 | KGSKODIAK GAS SVCS INC | 349,051 | $20M | 0.2% | TRIM −24% |
| 91 | ECLECOLAB INC | 74,921 | $20M | 0.2% | TRIM −18% |
| 92 | WMSADVANCED DRAIN SYS INC DEL | 139,629 | $19M | 0.2% | HOLD |
| 93 | PNRPENTAIR PLC | 219,687 | $19M | 0.2% | TRIM −12% |
| 94 | CNMCORE & MAIN INC | 357,111 | $18M | 0.2% | HOLD |
| 95 | GFLGFL ENVIRONMENTAL INC | 353,327 | $15M | 0.2% | ADD 9% |
| 96 | VMIVALMONT INDS INC | 34,557 | $14M | 0.1% | TRIM −26% |
| 97 | MWAMUELLER WTR PRODS INC | 492,139 | $14M | 0.1% | TRIM −10% |
| 98 | WTSWATTS WATER TECHNOLOGIES INC | 37,353 | $11M | 0.1% | ADD 10% |
| 99 | WMWASTE MGMT INC DEL | 43,567 | $10M | 0.1% | ADD 14% |
| 100 | EIXEDISON INTL | 123,600 | $9M | 0.1% | HOLD |
| 101 | FELEFRANKLIN ELEC INC | 89,972 | $8M | 0.1% | TRIM −18% |
| 102 | IEXIDEX CORP | 42,620 | $8M | 0.1% | TRIM −5% |
| 103 | ZWSZURN ELKAY WATER SOLNS CORP | 170,060 | $8M | 0.1% | ADD 16% |
| 104 | SWXSOUTHWEST GAS HLDGS INC | 85,000 | $7M | 0.1% | NEW |
| 105 | HSTHOST HOTELS & RESORTS INC | 360,844 | $7M | 0.1% | ADD 6% |
| 106 | SBACSBA COMMUNICATIONS CORP NEW | 38,902 | $7M | 0.1% | HOLD |
| 107 | SUNCSUNOCOCORP LLC | 107,384 | $7M | 0.1% | HOLD |
| 108 | BMIBADGER METER INC | 43,111 | $7M | 0.1% | TRIM −17% |
| 109 | HTOH2O AMERICA | 111,795 | $7M | 0.1% | NEW |
| 110 | TTEKTETRA TECH INC NEW | 211,038 | $6M | 0.1% | ADD 64% |
| 111 | DHRDANAHER CORP DEL | 32,042 | $6M | 0.1% | TRIM −8% |
| 112 | STNSTANTEC INC | 49,466 | $6M | 0.1% | TRIM −24% |
| 113 | FERGFERGUSON ENTERPRISES INC | 24,853 | $6M | 0.1% | ADD 30% |
| 114 | WYWEYERHAEUSER CO | 218,334 | $5M | 0.1% | HOLD |
| 115 | OMABGRUPO AEROPORTUARIO DEL CENT | 43,000 | $5M | 0.1% | HOLD |
| 116 | NXTNEXTPOWER INC | 38,196 | $5M | 0.0% | ADD 16% |
| 117 | GNRSPDR INDEX SHS FDS | 54,900 | $4M | 0.0% | TRIM −3% |
| 118 | AWRAMER STATES WTR CO | 51,404 | $4M | 0.0% | NEW |
| 119 | BEBLOOM ENERGY CORP | 28,669 | $4M | 0.0% | TRIM −16% |
| 120 | CWTCALIFORNIA WTR SVC GROUP | 85,115 | $4M | 0.0% | NEW |
| 121 | TMOTHERMO FISHER SCIENTIFIC INC | 6,993 | $3M | 0.0% | TRIM −57% |
| 122 | INVHINVITATION HOMES INC | 131,626 | $3M | 0.0% | HOLD |
| 123 | FSLRFIRST SOLAR INC | 15,655 | $3M | 0.0% | HOLD |
| 124 | VICIVICI PPTYS INC | 112,368 | $3M | 0.0% | HOLD |
| 125 | EXREXTRA SPACE STORAGE INC | 17,103 | $2M | 0.0% | HOLD |
| 126 | CWENCLEARWAY ENERGY INC | 50,039 | $2M | 0.0% | ADD 10% |
| 127 | GDXVANECK ETF TRUST GOLD MINERS ETF | 19,780 | $2M | 0.0% | TRIM −12% |
| 128 | VCLNVIRTUS ETF TR II | 61,475 | $2M | 0.0% | HOLD |
| 129 | DBCINVESCO DB COMMDY INDX TRCK | 58,894 | $2M | 0.0% | ADD 41% |
| 130 | PAGPPLAINS GP HLDGS L P | 70,071 | $2M | 0.0% | TRIM −9% |
| 131 | ORAORMAT TECHNOLOGIES INC | 14,743 | $2M | 0.0% | ADD 6% |
| 132 | ENPHENPHASE ENERGY INC | 40,362 | $2M | 0.0% | ADD 44% |
| 133 | EGPEASTGROUP PPTYS INC | 6,615 | $1M | 0.0% | ADD 16% |
| 134 | SCHPSCHWAB STRATEGIC TR | 44,520 | $1M | 0.0% | TRIM −17% |
| 135 | COLDAMERICOLD REALTY TRUST INC | 97,037 | $1M | 0.0% | HOLD |
| 136 | PLUGPLUG PWR INC | 448,248 | $1M | 0.0% | ADD 55% |
| 137 | SEDGSOLAREDGE TECHNOLOGIES INC | 19,418 | $991,289 | 0.0% | ADD 34% |
| 138 | CEGCONSTELLATION ENERGY CORP | 3,163 | $883,268 | 0.0% | ADD 31% |
| 139 | RUNSUNRUN INC | 58,602 | $794,643 | 0.0% | ADD 39% |
| 140 | TELTE CONNECTIVITY PLC | 3,638 | $760,415 | 0.0% | ADD 20% |
| 141 | AROCARCHROCK INC | 20,760 | $722,448 | 0.0% | TRIM −2% |
| 142 | HUBBHUBBELL INC | 1,440 | $706,666 | 0.0% | TRIM −7% |
| 143 | EQTEQT CORP | 9,305 | $592,170 | 0.0% | TRIM −2% |
| 144 | GEVGE VERNOVA INC | 668 | $583,097 | 0.0% | TRIM −7% |
| 145 | CCJCAMECO CORP | 4,723 | $512,965 | 0.0% | TRIM −29% |
| 146 | DBAINVESCO DB MULTI-SECTOR COMM | 17,025 | $465,123 | 0.0% | TRIM −35% |
| 147 | ARRYARRAY TECHNOLOGIES INC | 39,539 | $285,867 | 0.0% | ADD 52% |
| 148 | ACMAECOM | 7 | $594 | 0.0% | NEW |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| WELLWELLTOWER INC | 2.6M | 2.5M | 2.5M | 2.5M | 2.6M | 2.6M | $520M |
| EQIXEQUINIX INC | 428K | 396K | 408K | 437K | 478K | 473K | $463M |
| PLDPROLOGIS INC. | 2.9M | 3.0M | 3.0M | 3.0M | 3.2M | 3.0M | $395M |
| DLRDIGITAL RLTY TR INC | 1.3M | 1.4M | 1.4M | 1.4M | 1.5M | 1.5M | $279M |
| VTRVENTAS INC | 2.9M | 2.8M | 2.8M | 2.4M | 2.6M | 2.6M | $214M |
| SRESEMPRA | 1.9M | 1.9M | 2.0M | 2.1M | 2.1M | 2.1M | $203M |
| XELXCEL ENERGY INC | 2.0M | 2.0M | 2.2M | 2.4M | 2.4M | 2.4M | $193M |
| NEENEXTERA ENERGY INC | 2.2M | 2.3M | 2.6M | 2.6M | 2.1M | 1.9M | $178M |
| ETRENTERGY CORP NEW | 1.6M | 1.6M | 1.6M | 1.5M | 1.6M | 1.5M | $172M |
| CNPCENTERPOINT ENERGY INC | 4.6M | 4.1M | 3.6M | 3.7M | 3.8M | 3.9M | $167M |
| SPGSIMON PPTY GROUP INC NEW | 854K | 856K | 860K | 818K | 878K | 867K | $162M |
| IRMIRON MTN INC DEL | 1.2M | 1.3M | 1.5M | 1.6M | 1.6M | 1.6M | $161M |
| AMTAMERICAN TOWER CORP | 911K | 891K | 878K | 910K | 918K | 921K | $159M |
| PSAPUBLIC STORAGE OPER CO | 541K | 524K | 511K | 509K | 449K | 553K | $150M |
| NINISOURCE INC | 3.8M | 3.5M | 3.3M | 3.1M | 3.1M | 3.1M | $145M |
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.
