Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (53 quarters reported)
$5.75B in Q2 2013 → $10.6B 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 | 6.5% | Added 15% | 3,024,718 | $687M |
| Equinix Inc | 4.2% | Trimmed 9.6% | 427,032 | $445M |
| Prologis Inc. | 4.1% | Added 7.9% | 3,225,840 | $437M |
| DR Digital Rlty Tr Inc | 2.9% | Added 12% | 1,735,593 | $312M |
| Ventas Inc | 2.4% | Added 9.6% | 2,863,545 | $254M |
| SP Simon Ppty Group Inc New | 2.1% | Added 12% | 975,188 | $218M |
| Public Storage | 1.9% | Added 16% | 640,120 | $204M |
| Xcel Energy Inc | 1.8% | Trimmed 0.2% | 2,419,977 | $194M |
| Sempra | 1.8% | Trimmed 1.5% | 2,055,243 | $191M |
| EN Entergy Corp New | 1.8% | Added 6.7% | 1,635,463 | $188M |
| IM Iron Mtn Inc Del | 1.7% | Trimmed 7.6% | 1,455,435 | $184M |
| American Homes 4 Rent | 1.7% | Added 15% | 5,281,145 | $177M |
| AC Avalonbay Cmntys Inc | 1.6% | Added 12% | 907,436 | $171M |
| Centerpoint Energy Inc | 1.6% | Trimmed 0.1% | 3,861,232 | $170M |
| American Tower Corp | 1.6% | Added 13% | 1,039,175 | $170M |
| American Healthcare REIT Inc | 1.5% | Added 186% | 3,100,314 | $162M |
| BP Brixmor Ppty Group Inc | 1.5% | Added 12% | 5,022,252 | $158M |
| Nextera Energy Inc | 1.4% | Trimmed 9.2% | 1,744,585 | $153M |
| FI First Indl Rlty Tr Inc | 1.4% | Added 12% | 2,469,752 | $151M |
| Alliant Energy Corp | 1.4% | Added 3.5% | 1,964,325 | $150M |
| WC Williams Cos Inc | 1.4% | Added 3.5% | 2,000,552 | $149M |
| Nisource Inc | 1.4% | Trimmed 0.3% | 3,097,280 | $147M |
| Evergy Inc | 1.3% | Trimmed 0.2% | 1,652,488 | $143M |
| MA Mid-amer Apt Cmntys Inc | 1.3% | Added 20% | 1,018,023 | $141M |
| TR Targa Res Corp | 1.3% | Added 1.7% | 518,030 | $139M |
| Ameren Corp | 1.3% | Added 4.0% | 1,206,076 | $136M |
| Cubesmart | 1.2% | Added 18% | 3,239,472 | $129M |
| Dte Energy Co | 1.2% | Added 6.2% | 841,774 | $128M |
| EP Essex Ppty Tr Inc | 1.2% | Added 32% | 429,210 | $125M |
| EP Essential Pptys Rlty Tr Inc | 1.1% | Added 18% | 4,037,057 | $121M |
| Ppl Corp | 1.1% | Added 9.0% | 3,287,954 | $120M |
| Wec Energy Group Inc | 1.1% | Trimmed 0.1% | 979,934 | $114M |
| Cms Energy Corp | 1.0% | Unchanged | 1,453,667 | $111M |
| Atmos Energy Corp | 1.0% | Added 4.9% | 637,725 | $110M |
| AE American Elec Pwr Co Inc | 1.0% | Added 5.2% | 801,532 | $110M |
| RH Ryman Hospitality Pptys Inc | 1.0% | Added 9.1% | 851,474 | $109M |
| Cheniere Energy Inc | 1.0% | Added 23% | 454,899 | $109M |
| Dominion Energy Inc | 1.0% | Trimmed 0.2% | 1,569,402 | $107M |
| Tc Energy Corp | 1.0% | Trimmed 4.9% | 1,547,057 | $103M |
| DE Duke Energy Corp New | 1.0% | Trimmed 10% | 807,284 | $102M |
| Southern Co | 1.0% | Trimmed 0.6% | 1,066,805 | $102M |
| Equity Lifestyle Properties | 1.0% | Added 7.9% | 1,580,485 | $102M |
| Oge Energy Corp | 1.0% | Trimmed 0.2% | 2,091,246 | $102M |
| Crown Castle Inc | 0.9% | Added 7.8% | 1,285,653 | $97.4M |
| Mplx LP | 0.9% | Trimmed 3.0% | 1,618,467 | $91.2M |
| Emera Inc | 0.8% | Trimmed 14% | 1,161,790 | $87.4M |
| ON Oneok Inc New | 0.8% | Trimmed 3.5% | 994,844 | $86.5M |
| Phillips Edison & Co Inc | 0.8% | Added 11% | 2,006,105 | $83.5M |
| AR Agree Rlty Corp | 0.8% | Added 9.0% | 1,100,957 | $83.4M |
| ET Energy Transfer L P | 0.8% | Added 0.3% | 4,359,713 | $83.4M |
| Fortis Inc | 0.8% | Unchanged | 981,900 | $79.8M |
| EU Essential Utils Inc | 0.7% | Trimmed 6.1% | 2,054,683 | $78.7M |
| UP Union Pac Corp | 0.7% | Added 12% | 286,926 | $78M |
| Spire Inc | 0.7% | Added 3.8% | 967,949 | $75.6M |
| PG&E Corp | 0.7% | Trimmed 13% | 4,421,644 | $74.4M |
| VR Vornado Rlty Tr | 0.7% | Added 21% | 1,861,939 | $73.2M |
| CP Cousins Pptys Inc | 0.7% | Added 12% | 2,381,815 | $71.4M |
| Enbridge Inc | 0.7% | Trimmed 14% | 1,316,326 | $71.4M |
| AW American Wtr Wks Co Inc New | 0.6% | Trimmed 5.6% | 521,915 | $68.7M |
| PW Pinnacle West Cap Corp | 0.6% | Unchanged | 624,930 | $66.9M |
Showing top 60 of 162 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 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| American Healthcare REIT Inc | Added | +2,017,139 | +$105M | 1.5% |
| Welltower Inc | Added | +392,178 | +$89M | 6.5% |
| NH National Healthcare Pptys In | New | +4,130,444 | +$60.5M | 0.6% |
| Equinix Inc | Trimmed | −45,551 | −$47.5M | 4.2% |
| DR Digital Rlty Tr Inc | Added | +188,663 | +$33.9M | 2.9% |
| Prologis Inc. | Added | +235,984 | +$32M | 4.1% |
| EP Essex Ppty Tr Inc | Added | +102,953 | +$30M | 1.2% |
| PS Public Svc Enterprise Group | Trimmed | −368,599 | −$29.9M | 0.6% |
| Eversource Energy | Exited | −424,140 | −$29.4M | — |
| AR Alexandria Real Estate Eq In | Trimmed | −547,016 | −$28.9M | 0.2% |
Showing the 10 largest of 143 changes.
quarter ended March 31, 2026 · filed July 24, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Emera Inc | New | +1,349,450 | +$97.3M | 1.0% |
| PH Pebblebrook Hotel Tr | New | +3,186,450 | +$40.2M | 0.4% |
| K Keyera Corp | Exited | −1,200,638 | −$38.5M | — |
| American Healthcare REIT Inc | Added | +754,900 | +$35.6M | 0.5% |
| CN Cdn Natl Railway | Exited | −336,789 | −$33.4M | — |
| KM Kinder Morgan Inc Del | Trimmed | −931,059 | −$31.2M | 0.5% |
| ON Oneok Inc New | Added | +312,954 | +$28.3M | 1.0% |
| PS Public Storage Oper Co | Added | +103,780 | +$28.1M | 1.6% |
| Cheniere Energy Inc | Trimmed | −91,480 | −$26M | 1.1% |
| Prologis Inc. | Trimmed | −166,515 | −$22M | 4.1% |
Showing the 10 largest of 135 changes.
quarter ended December 31, 2025 · filed January 26, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| FI First Ind Realty Tr | Added | +735,333 | +$42.1M | 1.4% |
| Nextera Energy Inc | Trimmed | −481,808 | −$38.7M | 1.9% |
| Equinix Inc | Added | +41,568 | +$31.8M | 4.2% |
| AR Alexandria Real Esta REIT | Added | +549,784 | +$26.9M | 0.6% |
| DR Digital Rlty Tr Inc | Added | +157,456 | +$24.4M | 2.7% |
| Prologis Inc | Added | +184,387 | +$23.5M | 4.6% |
| AR Americold Rlty Tr | Trimmed | −1,627,061 | −$20.9M | — |
| WO Welltower Op Inc | Added | +105,658 | +$19.6M | 5.5% |
| Duke Energy Corp | Trimmed | −136,040 | −$15.9M | 1.2% |
| PS Public Storage REIT Common | Trimmed | −59,411 | −$15.4M | 1.3% |
Showing the 10 largest of 138 changes.
quarter ended September 30, 2025 · filed November 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| FI First Ind Realty Tr | New | +1,449,075 | +$74.6M | 0.8% |
| RI Rexford Industrial Com Usd0.01 | Trimmed | −1,790,089 | −$73.6M | 0.5% |
| Agree Realty Corp | Added | +634,520 | +$45.1M | 0.7% |
| HH Host Hotels & Resrts REIT | Trimmed | −2,383,184 | −$40.6M | 0.1% |
| AR Alexandria Real Esta REIT | Added | +425,411 | +$35.5M | 0.4% |
| Ventas Inc | Trimmed | −353,920 | −$24.8M | 1.9% |
| Equinix Inc | Added | +29,005 | +$22.7M | 3.9% |
| LA Lamar Advertising Cl A | Exited | −170,581 | −$20.7M | — |
| ET Energy Transfer L P Com Ut Ltd Ptn | Trimmed | −1,142,283 | −$19.6M | 0.8% |
| Pembina Pipeline | Trimmed | −461,730 | −$18.7M | 0.4% |
Showing the 10 largest of 132 changes.
quarter ended June 30, 2025 · filed August 11, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS Smartstop Self Stora | New | +956,447 | +$34.7M | 0.4% |
| O Oneok Inc | Trimmed | −393,468 | −$32.1M | 0.7% |
| Csx Corp | New | +797,977 | +$26M | 0.3% |
| Nextera Energy Inc | Added | +322,415 | +$22.4M | 2.1% |
| Kinder Morgan Inc | Added | +754,689 | +$22.2M | 0.9% |
| UP Union Pac Corp | Trimmed | −92,947 | −$21.4M | 0.2% |
| MA Mid-amer Apt Cmntys REIT | Added | +139,324 | +$20.6M | 1.3% |
| Centerpoint Energy | Trimmed | −541,105 | −$19.9M | 1.6% |
| Cheniere Energy Inc | Trimmed | −80,307 | −$19.6M | 1.4% |
| SC Spire Inc Com Usd1 | Added | +254,285 | +$18.6M | 0.9% |
Showing the 10 largest of 142 changes.
quarter ended March 31, 2025 · filed May 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| EL Equity Lifestyle Ppt | Added | +1,402,865 | +$93.6M | 1.1% |
| Sun Communities | Exited | −592,367 | −$72.8M | — |
| Kimco Realty Corp | Trimmed | −2,841,641 | −$60.4M | 0.1% |
| MA Mid-amer Apt Cmntys REIT | Added | +296,752 | +$49.7M | 1.1% |
| Equinix Inc | Trimmed | −32,761 | −$26.7M | 3.8% |
| Eversource Energy | Trimmed | −425,709 | −$26.4M | 0.2% |
| Crown Castle Inc | Added | +229,073 | +$23.9M | 1.3% |
| Centerpoint Energy | Trimmed | −467,968 | −$17M | 1.8% |
| Bxp Inc | Added | +232,275 | +$15.6M | 0.7% |
| EP Enterprise Prods | Trimmed | −448,484 | −$15.3M | 0.6% |
Showing the 10 largest of 141 changes.
quarter ended December 31, 2024 · filed February 12, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Entergy Corp | Added | +843,752 | +$64M | 1.4% |
| Duke Energy Corp | Added | +523,251 | +$56.4M | 1.1% |
| SP Simon Ppty Inc | Trimmed | −288,138 | −$49.6M | 1.8% |
| CC Comcast Corp Class A | Exited | −1,089,400 | −$45.5M | — |
| MA Mid-amer Apt Cmntys REIT | Added | +211,308 | +$32.7M | 0.5% |
| RI Rexford Industrial Com Usd0.01 | Added | +837,630 | +$32.4M | 1.3% |
| PC Ppl Corp Com | Added | +909,911 | +$29.5M | 1.1% |
| Kimco Realty Corp | Trimmed | −1,062,736 | −$24.9M | 0.9% |
| AH American Homes 4 R Cl A | Added | +614,655 | +$23M | 1.9% |
| Cheniere Energy Inc | Trimmed | −100,420 | −$21.6M | 1.6% |
Showing the 10 largest of 133 changes.
quarter ended September 30, 2024 · filed November 15, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Trust Core S&P Total Us Stk Mkt | Exited | −757,615 | −$90M | — |
| EP Essential Pptys Rlty REIT Com | New | +2,034,345 | +$69.5M | 0.8% |
| Equinix Inc | Added | +55,098 | +$48.9M | 4.3% |
| MA Mid-amer Apt Cmntys REIT | Trimmed | −302,950 | −$48.1M | 0.1% |
| VI Vanguard Index Tr Total Stock Market | Exited | −156,210 | −$41.8M | — |
| PS Public Svc Enterpr | Trimmed | −437,210 | −$39M | 1.0% |
| PG&E Corp | Added | +1,920,734 | +$38M | 0.9% |
| NJ New Jersey Res Corp | Exited | −875,590 | −$37.4M | — |
| RC Regency Centers Corp REIT | Exited | −564,861 | −$35.1M | — |
| TP Transcanada Pipeline Com | Added | +730,415 | +$34.7M | 1.0% |
Showing the 10 largest of 213 changes.
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