Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (34 quarters reported)
$6.4B in Q1 2018 → $11.7B 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 |
|---|---|---|---|---|
| Welltower Inc | 10.9% | Added 7.6% | 5,640,625 | $1.28B |
| Equinix Inc | 8.1% | Added 11% | 914,083 | $953M |
| PT Prologis Trust | 8.1% | Added 12% | 6,971,950 | $944M |
| Digital Realty Trust Inc | 5.5% | Added 18% | 3,611,509 | $649M |
| Ventas Inc | 5.0% | Added 12% | 6,627,776 | $589M |
| Brixmor Property Group Inc | 3.3% | Added 12% | 12,348,885 | $389M |
| Public Storage Inc | 3.3% | Trimmed 0.7% | 1,196,628 | $381M |
| Extra Space Storage Inc | 3.2% | Added 1.7% | 2,540,776 | $369M |
| Udr Inc | 3.1% | Added 10% | 9,221,587 | $368M |
| Simon Property Group Inc | 3.1% | Added 15% | 1,606,504 | $359M |
| Camden Property Trust | 2.9% | Added 12% | 2,961,148 | $339M |
| First Industrial Realty Trust | 2.5% | Added 13% | 4,855,292 | $298M |
| Iron Mountain Inc | 2.5% | Added 0.6% | 2,323,974 | $294M |
| Agree Realty Corp | 2.4% | Added 8.8% | 3,730,917 | $283M |
| Kimco Realty Corp | 2.4% | Added 4.0% | 10,919,568 | $277M |
| Invitation Homes Inc | 2.3% | Added 20% | 8,939,707 | $270M |
| Kite Realty Group Trust | 2.1% | Added 9.5% | 8,644,416 | $245M |
| Realty Income Corp | 2.1% | Trimmed 0.9% | 3,924,386 | $243M |
| Macerich Company | 1.9% | Added 24% | 8,999,366 | $227M |
| American Healthcare REIT Inc | 1.9% | Added 51% | 4,203,946 | $219M |
| Equity Lifestyle Properties | 1.8% | Added 42% | 3,200,525 | $206M |
| Vici Properties Inc | 1.4% | Added 33% | 6,272,252 | $167M |
| American Homes 4 Rent | 1.3% | Trimmed 26% | 4,390,840 | $147M |
| Host Hotels & Resorts Inc | 1.3% | Trimmed 9.2% | 6,190,131 | $147M |
| Cousins Properties Inc | 1.1% | Added 12% | 4,315,815 | $129M |
| AR Alexandria Real Estate Equitie | 1.1% | Added 16% | 2,353,556 | $124M |
| Vornado Realty Trust | 1.0% | Trimmed 15% | 2,918,110 | $115M |
| Sabra Health Care REIT Inc | 1.0% | Added 50% | 5,814,427 | $113M |
| MA Mid-america Apartment Communit | 0.9% | Added 27% | 789,692 | $110M |
| Lxp Industrial Trust | 0.8% | Added 42% | 1,774,973 | $95.6M |
| Rexford Industrial Realty | 0.8% | Added 10% | 2,728,032 | $91.4M |
| Diamondrock Hospitality Co | 0.8% | Added 13% | 7,262,068 | $88.5M |
| ER Equity Residential Properties | 0.7% | Added 5.7% | 1,221,100 | $82.9M |
| Ryman Hospitality Properties | 0.6% | Added 11% | 569,520 | $73.2M |
| Janus Living Inc | 0.6% | Added 24% | 2,449,658 | $70.4M |
| Sl Green Realty Corp | 0.5% | Added 14% | 1,227,532 | $63.5M |
| Essex Property Trust Inc | 0.5% | Trimmed 7.8% | 199,720 | $58.2M |
| Lamar Advertising Company | 0.5% | Added 31% | 361,934 | $56.5M |
| American Tower Corp | 0.5% | Added 4.1% | 329,330 | $53.9M |
| Caretrust REIT Inc | 0.4% | New | 1,294,118 | $52.2M |
| Broadstone Net Lease Inc | 0.4% | Trimmed 6.5% | 2,466,690 | $51M |
| Netstreit Corp | 0.4% | Trimmed 16% | 2,405,458 | $50.8M |
| SS Smartstop Self Storage REIT In | 0.4% | New | 1,415,860 | $46M |
| Americold Realty Trust Inc | 0.4% | Added 38% | 2,863,520 | $45M |
| Kilroy Realty Corporation | 0.4% | Added 1577% | 1,181,978 | $44.3M |
| Sun Communities Inc | 0.4% | Added 577% | 347,520 | $41.7M |
| Independence Realty Trust Inc | 0.3% | Added 48% | 2,350,383 | $39.2M |
| Ltc Properties Inc | 0.3% | Added 14152% | 920,710 | $35.4M |
| Lineage Inc | 0.3% | Added 48% | 686,236 | $29.7M |
| Omega Healthcare Investors Inc | 0.2% | Trimmed 80% | 610,430 | $29.1M |
| Stag Industrial | 0.2% | Added 415% | 761,520 | $29M |
| Regency Centers Corp | 0.2% | Unchanged | 351,270 | $28M |
| CC Crown Castle Intl Corp | 0.2% | Trimmed 11% | 358,530 | $27.2M |
| Diversified Healthcare Trust | 0.2% | Added 0.0% | 2,862,591 | $26.6M |
| Cubesmart | 0.2% | Trimmed 59% | 647,746 | $25.8M |
| AB Avalon Bay Communities | 0.2% | Added 0.4% | 104,960 | $19.8M |
| Empire State Realty Trust | 0.2% | Added 10% | 3,580,271 | $19.4M |
| IV Corp Inmobiliaria Vesta Sab | 0.2% | Added 67% | 563,015 | $19.3M |
| PO Piedmont Office Realty Trust I | 0.1% | Trimmed 56% | 1,537,347 | $14.1M |
| FR Federal Realty Investment Trus | 0.1% | Trimmed 69% | 106,401 | $13.1M |
Showing top 60 of 80 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 07, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Healthcare Realty Trust Inc | Trimmed | −6,401,490 | −$129M | — |
| Omega Healthcare Investors Inc | Trimmed | −2,379,374 | −$113M | 0.2% |
| PT Prologis Trust | Added | +743,837 | +$101M | 8.1% |
| Digital Realty Trust Inc | Added | +546,600 | +$98.2M | 5.5% |
| Equinix Inc | Added | +91,200 | +$95.1M | 8.1% |
| Welltower Inc | Added | +397,916 | +$90.3M | 10.9% |
| American Healthcare REIT Inc | Added | +1,422,493 | +$74.2M | 1.9% |
| Ventas Inc | Added | +699,255 | +$62.1M | 5.0% |
| Equity Lifestyle Properties | Added | +946,174 | +$61M | 1.8% |
| American Homes 4 Rent | Trimmed | −1,578,192 | −$52.9M | 1.3% |
Showing the 10 largest of 80 changes.
quarter ended March 31, 2026 · filed May 08, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| First Industrial Realty Trust | Added | +1,657,810 | +$95.9M | 2.6% |
| Bxp Inc | Trimmed | −1,721,686 | −$89.4M | — |
| Healthpeak Properties Inc | Trimmed | −4,882,252 | −$80.2M | 0.1% |
| Essex Property Trust Inc | Trimmed | −331,401 | −$80.2M | 0.5% |
| Extra Space Storage Inc | Trimmed | −534,887 | −$70.1M | 3.4% |
| Equinix Inc | Trimmed | −70,347 | −$69M | 8.3% |
| ER Equity Residential Properties | Trimmed | −1,083,676 | −$64.1M | 0.7% |
| Eastgroup Properties Inc | Trimmed | −339,249 | −$62.8M | 0.2% |
| Public Storage Inc | Trimmed | −230,986 | −$62.6M | 3.4% |
| Welltower Inc | Trimmed | −299,293 | −$59.2M | 10.7% |
Showing the 10 largest of 84 changes.
quarter ended December 31, 2025 · filed February 12, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Healthpeak Properties Inc | Trimmed | −8,901,289 | −$143M | 0.8% |
| Public Storage Inc | Added | +290,360 | +$75.3M | 3.7% |
| Macerich Company | Added | +3,808,336 | +$70.3M | 1.2% |
| FR Federal Realty Investment Trus | Trimmed | −663,213 | −$66.9M | 0.6% |
| Nnn REIT | Exited | −1,420,526 | −$60.5M | — |
| Brixmor Property Group Inc | Added | +2,275,242 | +$59.7M | 3.2% |
| Welltower Inc | Added | +284,812 | +$52.9M | 10.2% |
| Sabra Health Care REIT Inc | New | +2,654,480 | +$50.3M | 0.5% |
| AR Alexandria Real Estate Equitie | Added | +1,023,747 | +$50.1M | 0.8% |
| Host Hotels & Resorts Inc | Trimmed | −1,961,795 | −$34.8M | 1.4% |
Showing the 10 largest of 80 changes.
quarter ended September 30, 2025 · filed November 12, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Equity Lifestyle Properties | Added | +1,886,348 | +$115M | 1.2% |
| Essex Property Trust Inc | Added | +426,650 | +$114M | 1.4% |
| Cubesmart | Trimmed | −2,667,668 | −$108M | — |
| ER Equity Residential Properties | Trimmed | −1,450,681 | −$93.9M | 1.7% |
| Public Storage Inc | Added | +315,370 | +$91.1M | 3.3% |
| Sun Communities Inc | Trimmed | −564,920 | −$72.9M | 0.1% |
| Rexford Industrial Realty | Trimmed | −1,305,498 | −$53.7M | 1.2% |
| Iron Mountain Inc | Added | +483,548 | +$49.3M | 2.6% |
| Welltower Inc | Added | +258,980 | +$46.1M | 9.4% |
| Eastgroup Properties Inc | Added | +256,019 | +$43.3M | 0.5% |
Showing the 10 largest of 77 changes.
quarter ended June 30, 2025 · filed August 12, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Invitation Homes Inc | Trimmed | −3,948,345 | −$130M | 2.3% |
| American Homes 4 Rent | Added | +2,362,874 | +$85.2M | 1.6% |
| Brixmor Property Group Inc | Added | +2,388,964 | +$62.2M | 2.8% |
| Kimco Realty Corp | Added | +2,746,427 | +$57.7M | 2.6% |
| Nnn REIT | Trimmed | −1,275,708 | −$55.1M | 0.8% |
| Omega Healthcare Investors Inc | Added | +1,474,510 | +$54M | 1.4% |
| Lamar Advertising Company | Trimmed | −358,162 | −$43.5M | 0.4% |
| MA Mid-america Apartment Communit | Trimmed | −288,745 | −$42.7M | 0.2% |
| Healthcare Realty Trust Inc | Added | +2,523,100 | +$40M | 0.7% |
| Kite Realty Group Trust | Added | +1,437,510 | +$32.6M | 1.7% |
Showing the 10 largest of 72 changes.
quarter ended March 31, 2025 · filed May 09, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Vici Properties Inc | Trimmed | −4,178,023 | −$136M | 1.3% |
| Sun Communities Inc | Trimmed | −699,228 | −$89.9M | 1.1% |
| Kite Realty Group Trust | Added | +3,408,442 | +$76.2M | 1.4% |
| Eastgroup Properties Inc | Trimmed | −405,811 | −$71.5M | 0.1% |
| Invitation Homes Inc | Trimmed | −2,045,424 | −$71.3M | 3.9% |
| Realty Income Corp | Added | +1,055,840 | +$61.2M | 3.0% |
| American Homes 4 Rent | Added | +1,349,634 | +$51M | 0.7% |
| MA Mid-america Apartment Communit | Added | +294,245 | +$49.3M | 0.7% |
| Healthpeak Properties Inc | Added | +2,070,416 | +$41.9M | 2.8% |
| Kilroy Realty Corporation | Trimmed | −1,198,850 | −$39.3M | — |
Showing the 10 largest of 75 changes.
quarter ended December 31, 2024 · filed February 12, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Retail Opportunity Investments | Exited | −9,508,450 | −$150M | — |
| Kimco Realty Corp | Trimmed | −5,585,617 | −$131M | 2.0% |
| Invitation Homes Inc | Added | +3,870,432 | +$124M | 4.4% |
| FR Federal Realty Investment Trus | Added | +941,414 | +$105M | 1.2% |
| First Industrial Realty Trust | Trimmed | −2,044,775 | −$103M | 1.4% |
| Kite Realty Group Trust | New | +2,551,630 | +$64.4M | 0.7% |
| Sun Communities Inc | Trimmed | −508,140 | −$62.5M | 2.0% |
| Equinix Inc | Trimmed | −64,344 | −$60.7M | 8.5% |
| Caretrust REIT Inc | Trimmed | −1,652,644 | −$44.7M | — |
| Realty Income Corp | Trimmed | −805,636 | −$43M | 2.2% |
Showing the 10 largest of 92 changes.
quarter ended September 30, 2024 · filed November 12, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Lineage Inc | New | +1,190,210 | +$93.3M | 0.9% |
| Iron Mountain Inc | Trimmed | −662,383 | −$78.7M | 1.9% |
| PT Prologis Trust | Trimmed | −601,046 | −$75.9M | 7.6% |
| Udr Inc | Trimmed | −1,581,001 | −$71.7M | 4.0% |
| Realty Income Corp | Trimmed | −1,081,988 | −$68.6M | 2.8% |
| Agree Realty Corp | Trimmed | −805,105 | −$60.6M | 1.8% |
| Digital Realty Trust Inc | Added | +370,808 | +$60M | 4.6% |
| Ventas Inc | Trimmed | −869,997 | −$55.8M | 4.1% |
| Americold Realty Trust Inc | Added | +1,887,840 | +$53.4M | 0.9% |
| Public Storage Inc | Trimmed | −136,077 | −$49.5M | 2.8% |
Showing the 10 largest of 88 changes.
Loading...
