Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (53 quarters reported)
$32.2B in Q2 2013 → $63.2B 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. | 13.2% | Added 2.7% | 36,821,274 | $8.36B |
| Digital Realty Trust Inc. | 8.3% | Added 3.7% | 29,229,771 | $5.25B |
| Prologis Inc. | 4.9% | Trimmed 1.9% | 22,841,902 | $3.09B |
| Crown Castle Inc. | 4.7% | Trimmed 3.2% | 39,084,710 | $2.96B |
| Equinix Inc. | 3.6% | Trimmed 23% | 2,191,196 | $2.28B |
| American Tower Corporation | 3.6% | Added 9.2% | 13,777,789 | $2.25B |
| Extra Space Storage Inc. | 3.0% | Trimmed 21% | 12,896,053 | $1.87B |
| Public Storage | 2.6% | Added 19% | 5,238,349 | $1.67B |
| Sun Communities Inc. | 2.5% | Added 11% | 13,398,864 | $1.61B |
| Iron Mountain Incorporated | 2.4% | Trimmed 26% | 12,019,735 | $1.52B |
| Bxp, Inc. | 2.4% | Added 9.3% | 22,784,376 | $1.51B |
| Kimco Realty Corporation | 2.3% | Added 5.5% | 56,641,276 | $1.44B |
| Essex Property Trust Inc. | 2.3% | Added 1.5% | 4,914,673 | $1.43B |
| Simon Property Group Inc. | 2.1% | Trimmed 0.2% | 5,870,615 | $1.31B |
| Agree Realty Corp. | 2.0% | Trimmed 8.2% | 16,403,414 | $1.24B |
| EP Essential Properties Realty | 1.8% | Added 31% | 38,828,414 | $1.16B |
| Invitation Homes Inc | 1.8% | Added 5.5% | 37,129,067 | $1.12B |
| Omega Healthcare Investors | 1.7% | Added 91% | 22,936,053 | $1.09B |
| Healthcare Realty Trust Inc. | 1.7% | Added 1.6% | 53,261,400 | $1.07B |
| Host Hotels & Resorts Inc. | 1.7% | Trimmed 19% | 44,820,149 | $1.06B |
| Equity Lifestyle Properties | 1.5% | Added 35% | 14,888,121 | $960M |
| Eastgroup Properties Inc. | 1.2% | Added 2.2% | 3,749,648 | $759M |
| Kite Realty Group Trust | 1.2% | Added 2.4% | 26,631,121 | $756M |
| Outfront Media Inc | 1.1% | Added 0.6% | 21,638,973 | $709M |
| Udr Inc. | 1.0% | Trimmed 26% | 15,418,373 | $616M |
| Nextera Energy Inc. | 0.9% | Trimmed 2.1% | 6,789,461 | $596M |
| Sba Communications Corporation | 0.9% | Added 3.7% | 3,247,729 | $573M |
| Boyd Gaming Corp. | 0.9% | Added 154% | 6,281,240 | $555M |
| The Williams Companies Inc. | 0.8% | Added 6.0% | 6,976,340 | $519M |
| Caretrust REIT Inc | 0.8% | Added 6.4% | 12,751,614 | $515M |
| Highwoods Properties Inc. | 0.8% | Added 36% | 16,834,467 | $508M |
| Rayonier Inc. | 0.7% | Added 1.1% | 21,936,120 | $467M |
| Weyerhaeuser Company | 0.7% | Trimmed 6.8% | 17,960,772 | $430M |
| Acadia Realty Trust | 0.7% | Added 24% | 20,149,944 | $421M |
| Realty Income Corporation | 0.7% | Added 0.7% | 6,712,849 | $416M |
| Csx Corporation | 0.7% | Added 5.8% | 8,703,638 | $414M |
| Entergy Corporation | 0.6% | Added 16% | 3,526,533 | $405M |
| Union Pacific Corporation | 0.6% | Added 5.3% | 1,414,296 | $385M |
| Ventas Inc. | 0.6% | Trimmed 31% | 4,129,357 | $367M |
| BD Blackstone Digital Infrastru | 0.6% | New | 16,464,194 | $356M |
| Pacs Group Inc | 0.6% | Trimmed 8.5% | 8,343,381 | $356M |
| Netstreit Corp | 0.5% | Added 10% | 16,295,578 | $344M |
| Lamar Advertising Co | 0.5% | Trimmed 12% | 2,111,982 | $329M |
| Sl Green Realty Corp. | 0.5% | Added 68% | 6,231,135 | $323M |
| ER Equity Residential | 0.5% | Trimmed 30% | 4,539,301 | $308M |
| Cubesmart | 0.5% | New | 7,226,516 | $287M |
| Targa Resources Corp. | 0.5% | Added 3.6% | 1,070,171 | $287M |
| Evergy Inc | 0.4% | Added 38% | 3,000,180 | $259M |
| GA Gaming And Leisure Prop | 0.4% | Trimmed 32% | 5,622,019 | $250M |
| Norfolk Southern Corporation | 0.4% | Added 4.5% | 777,270 | $245M |
| Nisource Inc. | 0.4% | Added 5.2% | 4,943,589 | $235M |
| Nnn REIT Inc | 0.4% | Added 1929% | 4,979,814 | $232M |
| American Electric Power Company Inc. | 0.4% | Added 122999% | 1,692,618 | $232M |
| Alliant Energy Corporation | 0.4% | Trimmed 7.9% | 3,016,592 | $230M |
| American Healthcare REIT Inc | 0.3% | New | 4,242,293 | $221M |
| Kilroy Realty Corp. | 0.3% | Trimmed 27% | 5,769,920 | $216M |
| Ameren Corporation | 0.3% | Added 4.3% | 1,906,537 | $216M |
| NS National Storage Affiliates | 0.3% | Added 6.5% | 4,788,045 | $213M |
| Duke Energy Corporation | 0.3% | Trimmed 4.7% | 1,538,590 | $195M |
| PG&E Corporation | 0.3% | Added 27% | 10,889,561 | $183M |
Showing top 60 of 442 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 14, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Equinix Inc. | Trimmed | −640,214 | −$667M | 3.6% |
| Iron Mountain Incorporated | Trimmed | −4,149,606 | −$524M | 2.4% |
| Omega Healthcare Investors | Added | +10,958,512 | +$523M | 1.7% |
| Extra Space Storage Inc. | Trimmed | −3,516,403 | −$511M | 3.0% |
| Caesars Entertainment Inc | Trimmed | −12,211,169 | −$370M | — |
| BD Blackstone Digital Infrastru | New | +16,464,194 | +$356M | 0.6% |
| Boyd Gaming Corp. | Added | +3,810,730 | +$337M | 0.9% |
| Cubesmart | New | +7,226,516 | +$287M | 0.5% |
| EP Essential Properties Realty | Added | +9,221,057 | +$275M | 1.8% |
| Public Storage | Added | +829,072 | +$264M | 2.6% |
Showing the 10 largest of 306 changes.
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Invitation Homes Inc | Trimmed | −21,488,448 | −$534M | 1.5% |
| Welltower Inc. | Added | +2,331,605 | +$461M | 12.3% |
| EP Essential Properties Realty | Added | +10,995,390 | +$334M | 1.6% |
| Weyerhaeuser Company | Trimmed | −13,014,139 | −$318M | 0.8% |
| Host Hotels & Resorts Inc. | Trimmed | −15,550,945 | −$298M | 1.8% |
| Agree Realty Corp. | Added | +3,769,392 | +$284M | 2.3% |
| Bxp, Inc. | Added | +5,466,437 | +$284M | 1.9% |
| Essex Property Trust Inc. | Trimmed | −1,156,704 | −$280M | 2.0% |
| Iron Mountain Incorporated | Trimmed | −2,734,375 | −$279M | 2.9% |
| Sun Communities Inc. | Added | +2,003,645 | +$252M | 2.6% |
Showing the 10 largest of 328 changes.
quarter ended December 31, 2025 · filed February 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Digital Realty Trust Inc. | Added | +4,276,073 | +$662M | 7.8% |
| Simon Property Group Inc. | Trimmed | −2,174,377 | −$403M | 2.1% |
| Invitation Homes Inc | Trimmed | −14,231,050 | −$395M | 2.8% |
| Vici Properties Inc. | Trimmed | −13,723,122 | −$386M | 0.2% |
| Equinix Inc. | Added | +493,141 | +$378M | 3.6% |
| Crown Castle Inc. | Added | +3,953,685 | +$351M | 6.4% |
| ER Equity Residential | Added | +5,145,442 | +$324M | 0.8% |
| GA Gaming And Leisure Prop | New | +7,008,837 | +$313M | 0.6% |
| Bxp, Inc. | Added | +4,503,738 | +$304M | 1.9% |
| EP Essential Properties Realty | Added | +9,816,042 | +$291M | 1.0% |
Showing the 10 largest of 263 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Sun Communities Inc. | Trimmed | −5,676,318 | −$732M | 2.6% |
| Crown Castle Inc. | Added | +5,513,258 | +$532M | 6.2% |
| Equity Lifestyle Properties | Added | +7,348,843 | +$446M | 0.9% |
| Bxp, Inc. | Added | +5,761,843 | +$428M | 1.5% |
| Caretrust REIT Inc | Added | +9,771,001 | +$339M | 1.1% |
| Omega Healthcare Investors | Added | +7,520,434 | +$317M | 1.3% |
| Simon Property Group Inc. | Trimmed | −1,650,116 | −$310M | 2.9% |
| Welltower Inc. | Trimmed | −1,605,549 | −$286M | 10.8% |
| Prologis Inc. | Trimmed | −2,315,603 | −$265M | 5.2% |
| Public Storage | Trimmed | −847,350 | −$245M | 1.9% |
Showing the 10 largest of 313 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| American Tower Corporation | Trimmed | −4,807,714 | −$1.06B | 5.6% |
| Sba Communications Corporation | Added | +3,222,574 | +$757M | 2.2% |
| Omega Healthcare Investors | Trimmed | −18,469,084 | −$677M | 0.6% |
| Avalonbay Communities Inc | Trimmed | −2,033,034 | −$414M | 0.1% |
| Essex Property Trust Inc. | Added | +1,293,666 | +$367M | 2.9% |
| Public Storage | Trimmed | −1,204,409 | −$353M | 2.4% |
| Kilroy Realty Corp. | Added | +10,249,689 | +$352M | 1.1% |
| Crown Castle Inc. | Added | +3,033,920 | +$312M | 5.7% |
| Vici Properties Inc. | Trimmed | −9,530,133 | −$311M | 1.2% |
| Kite Realty Group Trust | Added | +13,654,542 | +$309M | 0.9% |
Showing the 10 largest of 350 changes.
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Simon Property Group Inc. | Trimmed | −5,287,740 | −$878M | 3.4% |
| Extra Space Storage Inc. | Added | +5,785,436 | +$859M | 4.1% |
| Vici Properties Inc. | Trimmed | −17,645,568 | −$576M | 1.8% |
| Equity Lifestyle Properties | Trimmed | −5,630,075 | −$376M | 0.1% |
| Prologis Inc. | Trimmed | −3,235,506 | −$362M | 5.2% |
| Welltower Inc. | Trimmed | −2,091,429 | −$320M | 10.1% |
| Crown Castle Inc. | Added | +2,072,128 | +$216M | 5.3% |
| Invitation Homes Inc | Added | +6,180,290 | +$215M | 4.4% |
| Kilroy Realty Corp. | New | +6,460,110 | +$212M | 0.4% |
| Duke Energy Corporation | Trimmed | −1,511,663 | −$184M | 0.2% |
Showing the 10 largest of 433 changes.
quarter ended December 31, 2024 · filed February 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| American Tower Corporation | Added | +3,437,602 | +$630M | 6.7% |
| Sun Communities Inc. | Added | +3,811,528 | +$469M | 3.8% |
| Digital Realty Trust Inc. | Trimmed | −2,413,087 | −$428M | 7.4% |
| Weyerhaeuser Company | Added | +14,213,243 | +$400M | 2.1% |
| Omega Healthcare Investors | Added | +8,837,218 | +$334M | 1.9% |
| Realty Income Corporation | Trimmed | −5,886,521 | −$314M | 1.4% |
| Iron Mountain Incorporated | Trimmed | −2,818,166 | −$296M | 3.0% |
| Simon Property Group Inc. | Trimmed | −1,600,497 | −$276M | 5.4% |
| Eastgroup Properties Inc. | Added | +1,673,663 | +$269M | 0.9% |
| Lamar Advertising Co | Added | +2,180,011 | +$265M | 0.6% |
Showing the 10 largest of 354 changes.
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Prologis Inc. | Trimmed | −6,497,501 | −$820M | 6.2% |
| Public Storage | Added | +1,982,650 | +$721M | 3.1% |
| Iron Mountain Incorporated | Trimmed | −5,325,004 | −$633M | 3.7% |
| Omega Healthcare Investors | Added | +13,902,112 | +$566M | 1.3% |
| Avalonbay Communities Inc | Added | +2,065,727 | +$465M | 1.0% |
| American Tower Corporation | Trimmed | −1,998,880 | −$465M | 6.5% |
| Weyerhaeuser Company | Added | +13,389,108 | +$453M | 1.5% |
| Healthpeak Properties Inc | Trimmed | −19,418,849 | −$444M | — |
| Equity Lifestyle Properties | Added | +5,969,758 | +$426M | 1.0% |
| Host Hotels & Resorts Inc. | Added | +19,195,369 | +$338M | 1.4% |
Showing the 10 largest of 396 changes.
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