Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (53 quarters reported)
$9.59B in Q2 2013 → $14.3B now. Hover for any quarter.
As reported for the quarter ended June 30, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| Prologis Inc. | 18.5% | Unchanged | 19,286,830 | $2.64B |
| DR Digital Rlty Tr Inc | 10.7% | Unchanged | 8,619,693 | $1.52B |
| Equinix Inc | 8.5% | Unchanged | 1,194,365 | $1.21B |
| Ventas Inc | 7.1% | Unchanged | 11,314,857 | $1.01B |
| ER Equity Residential | 5.2% | Unchanged | 10,856,563 | $745M |
| Public Storage | 4.8% | Added 0.4% | 2,103,577 | $680M |
| IT Ishares Tr | 4.0% | Added 16% | 7,166,024 | $570M |
| Realty Income Corp | 3.9% | Trimmed 0.2% | 8,921,361 | $552M |
| Bxp Inc | 3.4% | Added 0.2% | 7,230,130 | $490M |
| Invitation Homes Inc | 3.4% | Unchanged | 15,975,264 | $485M |
| MA Mid-amer Apt Cmntys Inc | 3.0% | Unchanged | 3,089,712 | $432M |
| Extra Space Storage Inc | 2.8% | Added 0.5% | 2,748,149 | $405M |
| Welltower Inc | 2.7% | Unchanged | 1,692,393 | $390M |
| AR Alexandria Real Estate Eq In | 2.6% | Unchanged | 6,981,310 | $370M |
| Kimco Realty Corp | 2.6% | Trimmed 0.3% | 14,754,881 | $370M |
| CP Cousins Pptys Inc | 1.6% | Added 0.2% | 7,323,308 | $224M |
| HR Healthcare Rlty Tr | 1.5% | Unchanged | 10,223,995 | $207M |
| RC Regency Ctrs Corp | 1.4% | Trimmed 0.4% | 2,593,992 | $206M |
| Americold Realty Trust Inc | 1.4% | Unchanged | 12,824,285 | $205M |
| SP Simon Ppty Group Inc New | 1.4% | Added 1.4% | 892,987 | $199M |
| Kilroy Realty Corp | 1.3% | Added 0.2% | 4,701,496 | $184M |
| IM Iron Mtn Inc Del | 0.6% | Unchanged | 703,912 | $85.8M |
| IT Ishares Tr | 0.6% | Added 13% | 786,699 | $85.3M |
| VP Vici Pptys Inc | 0.5% | Trimmed 0.4% | 2,847,561 | $74.8M |
| AC Avalonbay Cmntys Inc | 0.5% | Unchanged | 356,542 | $67.9M |
| Host Hotels & Resorts Inc | 0.4% | Unchanged | 2,419,699 | $56.5M |
| EP Essex Ppty Tr Inc | 0.3% | Unchanged | 159,780 | $47.2M |
| WC Wp Carey Inc | 0.3% | Unchanged | 580,007 | $41.1M |
| SC Sun Cmntys Inc | 0.3% | Unchanged | 307,048 | $37.1M |
| Healthpeak Properties Inc | 0.3% | Unchanged | 1,664,514 | $36M |
| OH Omega Healthcare Invs Inc | 0.2% | Unchanged | 726,429 | $35M |
| Udr Inc | 0.2% | Unchanged | 828,243 | $33.6M |
| FR Federal Rlty Invt Tr New | 0.2% | Trimmed 1.3% | 269,876 | $32.5M |
| G& Gaming & Leisure P | 0.2% | Unchanged | 726,550 | $31.7M |
| Equity Lifestyle Properties | 0.2% | Unchanged | 481,719 | $31.3M |
| CP Camden Ppty Tr | 0.2% | Unchanged | 264,633 | $30.6M |
| BP Brixmor Ppty Group Inc | 0.2% | Trimmed 1.2% | 966,273 | $30.2M |
| American Homes 4 Rent | 0.2% | Unchanged | 820,421 | $27.7M |
| RH Ryman Hospitality Pptys Inc | 0.2% | Unchanged | 215,740 | $26.9M |
| EP Eastgroup Pptys Inc | 0.2% | New | 128,218 | $26.3M |
| VR Vornado Rlty Tr | 0.2% | Added 4.0% | 633,629 | $25.4M |
| American Healthcare REIT Inc | 0.2% | Added 7.8% | 444,285 | $23.8M |
| Nnn REIT Inc | 0.2% | Unchanged | 500,350 | $23.3M |
| AR Agree Rlty Corp | 0.2% | Unchanged | 302,617 | $23.1M |
| Cubesmart | 0.2% | Added 3.2% | 561,129 | $22.5M |
| Caretrust REIT Inc | 0.2% | Unchanged | 547,906 | $22.4M |
| Kite Realty Group Trust | 0.1% | Unchanged | 691,850 | $19.6M |
| FI First Indl Rlty Tr Inc | 0.1% | Unchanged | 309,950 | $19.1M |
| RI Rexford Indl Rlty Inc | 0.1% | Unchanged | 564,554 | $19M |
| Stag Industrial Inc | 0.1% | Unchanged | 452,071 | $17.3M |
| TR Terreno Rlty Corp | 0.1% | Unchanged | 245,177 | $16.2M |
| EP Essential Pptys Rlty Tr Inc | 0.1% | Unchanged | 527,707 | $15.8M |
| SG Sl Green Rlty Corp | 0.1% | Added 2.2% | 250,972 | $13.1M |
| Sabra Health Care REIT Inc | 0.1% | Added 7.2% | 621,369 | $12.2M |
| EP Epr Pptys | 0.1% | New | 200,183 | $11.6M |
| IR Independence Rlty Tr Inc | 0.1% | Unchanged | 598,765 | $10.3M |
| Park Hotels & Resorts Inc | 0.1% | Unchanged | 692,908 | $9.82M |
| IE Invesco Exch Traded Fd Tr Ii | 0.1% | Unchanged | 480,000 | $9.77M |
| NS National Storage Affiliates | 0.1% | Added 1.8% | 172,054 | $7.78M |
| Lineage Inc | 0.1% | Unchanged | 169,598 | $7.39M |
Showing top 60 of 61 positions.
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 12, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | Added | +968,750 | +$77.1M | 4.0% |
| EP Eastgroup Pptys Inc | New | +128,218 | +$26.3M | 0.2% |
| EP Epr Pptys | New | +200,183 | +$11.6M | 0.1% |
| IT Ishares Tr | Added | +87,806 | +$9.52M | 0.6% |
| Public Storage | Added | +8,628 | +$2.79M | 4.8% |
| SP Simon Ppty Group Inc New | Added | +12,346 | +$2.75M | 1.4% |
| Extra Space Storage Inc | Added | +12,697 | +$1.87M | 2.8% |
| American Healthcare REIT Inc | Added | +32,108 | +$1.72M | 0.2% |
| Bxp Inc | Added | +17,549 | +$1.19M | 3.4% |
| Kimco Realty Corp | Trimmed | −40,235 | −$1.01M | 2.6% |
Showing the 10 largest of 22 changes.
quarter ended March 31, 2026 · filed May 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | Trimmed | −2,847,821 | −$309M | 0.6% |
| Prologis Inc. | Trimmed | −369,417 | −$49.3M | 19.8% |
| Kimco Realty Corp | Added | +2,147,042 | +$48.2M | 2.6% |
| Sabra Health Care REIT Inc | Trimmed | −2,412,579 | −$47M | 0.1% |
| AC Avalonbay Cmntys Inc | Added | +280,969 | +$46.3M | 0.5% |
| Host Hotels & Resorts Inc | New | +2,419,699 | +$46.2M | 0.4% |
| IT Ishares Tr | Added | +564,838 | +$44.8M | 3.8% |
| RC Regency Ctrs Corp | Added | +580,399 | +$44.2M | 1.5% |
| SP Simon Ppty Group Inc New | Added | +225,045 | +$42.3M | 1.3% |
| HR Healthcare Rlty Tr | Trimmed | −2,167,777 | −$37.2M | 1.4% |
Showing the 10 largest of 72 changes.
quarter ended December 31, 2025 · filed February 12, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | Added | +997,936 | +$80.5M | 3.6% |
| EP Eastgroup Pptys Inc | Exited | −300,159 | −$51.7M | — |
| Nvidia Corporation | Exited | −226,405 | −$42.4M | — |
| Broadcom Inc | Exited | −123,408 | −$41.1M | — |
| Microsoft Corp | Exited | −59,861 | −$31.1M | — |
| Realty Income Corp | Added | +403,593 | +$22.8M | 3.9% |
| SP Simon Ppty Group Inc New | Added | +115,211 | +$21.3M | 1.0% |
| IE Invesco Exch Traded Fd Tr Ii | Trimmed | −1,000,000 | −$21M | 0.1% |
| OH Omega Healthcare Invs Inc | New | +344,468 | +$15.3M | 0.1% |
| Oracle Corp | Exited | −52,339 | −$15.1M | — |
Showing the 10 largest of 159 changes.
quarter ended September 30, 2025 · filed November 12, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | Trimmed | −986,187 | −$110M | 2.8% |
| IT Ishares Tr | Trimmed | −774,000 | −$62.7M | 2.8% |
| Bxp Inc | Added | +232,591 | +$17.8M | 4.2% |
| Americold Realty Trust Inc | Trimmed | −1,369,006 | −$16.9M | 1.1% |
| Welltower Inc | Added | +71,080 | +$12.8M | 2.1% |
| Realty Income Corp | Trimmed | −193,095 | −$11.7M | 3.8% |
| SC Sun Cmntys Inc | Trimmed | −75,030 | −$9.64M | 0.3% |
| I Ineage Inc | Exited | −215,025 | −$9.3M | — |
| MA Mid-amer Apt Cmntys Inc | Trimmed | −66,304 | −$9.15M | 3.1% |
| RI Rexford Indl Rlty Inc | Added | +213,927 | +$8.95M | 0.1% |
Showing the 10 largest of 49 changes.
quarter ended June 30, 2025 · filed August 12, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| ST Shares Tr | Added | +3,423,000 | +$374M | 3.6% |
| ST Shares Tr | Added | +723,000 | +$58M | 3.2% |
| AP Astgroup Pptys Inc | Added | +178,571 | +$30M | 0.3% |
| SP Ssex Ppty Tr Inc | Added | +94,797 | +$27M | 0.5% |
| ER Ealthcare Rlty Tr | Added | +1,706,215 | +$27M | 1.4% |
| EI Ealty Income Corp | Added | +357,286 | +$20.7M | 3.7% |
| NH Nvitation Homes Inc | Added | +623,423 | +$20.4M | 4.2% |
| EI Exford Indl Rlty Inc | Trimmed | −471,452 | −$17.1M | — |
| E Elltower Inc | Added | +100,858 | +$15.3M | 1.7% |
| AH Abra Health Care REIT Inc | Added | +785,474 | +$14.4M | 0.4% |
Showing the 10 largest of 76 changes.
quarter ended March 31, 2025 · filed May 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | New | +1,005,000 | +$109M | 0.8% |
| Americold Realty Trust Inc | Trimmed | −2,882,590 | −$60.9M | 2.2% |
| IT Ishares Tr | Added | +585,000 | +$46M | 2.8% |
| MA Mid-amer Apt Cmntys Inc | Added | +271,507 | +$45.5M | 3.9% |
| IE Invesco Exch Traded Fd Tr Ii | New | +1,480,000 | +$30.7M | 0.2% |
| KR Kimco Rlty Corp | Trimmed | −1,345,125 | −$28.4M | 2.0% |
| FR Federal Rlty Invt Tr New | Added | +201,390 | +$19.5M | 0.3% |
| EP Eastgroup Pptys Inc | New | +89,783 | +$15.8M | 0.1% |
| Bxp Inc | Trimmed | −235,814 | −$15.8M | 3.7% |
| Host Hotels & Resorts Inc | Trimmed | −1,026,485 | −$14.8M | 0.1% |
Showing the 10 largest of 58 changes.
quarter ended December 31, 2024 · filed February 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Equinix Inc | Trimmed | −202,812 | −$191M | 8.6% |
| IT Ishares Tr | Trimmed | −1,925,500 | −$151M | 2.4% |
| DR Digital Rlty Tr Inc | Trimmed | −540,780 | −$95.9M | 11.7% |
| RC Regency Ctrs Corp | Trimmed | −1,040,615 | −$76.9M | 1.1% |
| Ventas Inc | Trimmed | −1,218,226 | −$71.7M | 5.2% |
| SP Simon Ppty Group Inc New | Trimmed | −307,851 | −$53M | 0.7% |
| HR Healthcare Rlty Tr | Trimmed | −2,370,108 | −$40.2M | 1.3% |
| Nnn REIT Inc | Exited | −716,995 | −$34.8M | — |
| KR Kilroy Rlty Corp | Trimmed | −744,026 | −$30.1M | 1.3% |
| AR Agree Rlty Corp | New | +360,343 | +$25.4M | 0.2% |
Showing the 10 largest of 192 changes.
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Nvidia Corporation | Trimmed | −5,170,929 | −$605M | 0.2% |
| Microsoft Corp | Trimmed | −487,296 | −$205M | 0.2% |
| Unitedhealth Group Inc | Trimmed | −326,074 | −$190M | 0.1% |
| Apple Inc | Exited | −867,291 | −$188M | — |
| EL Eli Lilly & Co | Trimmed | −190,965 | −$169M | 0.1% |
| IT Ishares Tr | Added | +1,840,000 | +$147M | 3.3% |
| Ventas Inc | Trimmed | −2,272,816 | −$145M | 5.6% |
| Oracle Corp | Trimmed | −699,633 | −$117M | 0.1% |
| Salesforce Inc | Trimmed | −428,481 | −$116M | 0.1% |
| Merck & Co Inc | Trimmed | −972,227 | −$112M | 0.1% |
Showing the 10 largest of 187 changes.
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