Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (51 quarters reported)
$186M in Q4 2013 → — 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 |
|---|---|---|---|---|
| NS No Securities To Report | NaN% | Unchanged | 0 | — |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 11, 2026
No position changes this quarter.
quarter ended March 31, 2026 · filed May 13, 2026
No position changes this quarter.
quarter ended December 31, 2025 · filed February 17, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IM Iron Mtn Inc Del | Exited | −115,286 | −$11.8M | — |
| Welltower Inc | Exited | −52,551 | −$9.36M | — |
| RC Regency Ctrs Corp | Exited | −127,000 | −$9.26M | — |
| DR Digital Rlty Tr Inc | Exited | −53,000 | −$9.16M | — |
| RI Rexford Indl Rlty Inc | Exited | −221,828 | −$9.12M | — |
| Cubesmart | Exited | −223,418 | −$9.08M | — |
| SG Sl Green Rlty Corp | Exited | −149,903 | −$8.97M | — |
| AC Avalonbay Cmntys Inc | Exited | −45,257 | −$8.74M | — |
| GH Gds Hldgs Ltd | Exited | −225,812 | −$8.74M | — |
| Tanger Inc | Exited | −242,000 | −$8.19M | — |
Showing the 10 largest of 21 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| EP Essex Ppty Tr Inc | Exited | −77,888 | −$22.1M | — |
| Netstreit Corp | Exited | −1,000,420 | −$16.9M | — |
| Cbre Group Inc | Exited | −116,761 | −$16.4M | — |
| BS Brookdale Sr Living Inc | Trimmed | −1,755,438 | −$14.9M | 4.6% |
| IR Independence Rlty Tr Inc | Exited | −800,837 | −$14.2M | — |
| DR Digital Rlty Tr Inc | Trimmed | −79,063 | −$13.7M | 6.0% |
| HP Highwoods Pptys Inc | Exited | −416,318 | −$12.9M | — |
| RH Ryman Hospitality Pptys Inc | Exited | −129,935 | −$12.8M | — |
| American Healthcare REIT Inc | Trimmed | −269,969 | −$11.3M | 4.9% |
| American Homes 4 Rent | Exited | −307,559 | −$11.1M | — |
Showing the 10 largest of 38 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Ventas Inc | Exited | −414,157 | −$28.5M | — |
| CP Camden Ppty Tr | Exited | −232,564 | −$28.4M | — |
| CP Cousins Pptys Inc | Exited | −897,957 | −$26.5M | — |
| AT American Tower Corp New | Trimmed | −119,752 | −$26.5M | 1.1% |
| VR Vornado Rlty Tr | Trimmed | −666,621 | −$25.5M | 0.9% |
| EP Eastgroup Pptys Inc | Exited | −132,341 | −$23.3M | — |
| DR Digital Rlty Tr Inc | New | +132,063 | +$23M | 5.6% |
| EP Essex Ppty Tr Inc | New | +77,888 | +$22.1M | 5.4% |
| American Homes 4 Rent | Trimmed | −534,428 | −$19.3M | 2.7% |
| FI First Indl Rlty Tr Inc | Exited | −315,125 | −$17M | — |
Showing the 10 largest of 45 changes.
quarter ended March 31, 2025 · filed May 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| American Homes 4 Rent | New | +841,987 | +$31.8M | 5.5% |
| AT American Tower Corp New | New | +139,752 | +$30.4M | 5.2% |
| DR Digital Rlty Tr Inc | Exited | −156,097 | −$27.7M | — |
| IR Independence Rlty Tr Inc | New | +1,295,429 | +$27.5M | 4.7% |
| SG Sl Green Rlty Corp | New | +469,109 | +$27.1M | 4.6% |
| Udr Inc | Exited | −616,034 | −$26.7M | — |
| SP Simon Ppty Group Inc New | Exited | −144,602 | −$24.9M | — |
| EP Eastgroup Pptys Inc | New | +132,341 | +$23.3M | 4.0% |
| GH Gds Hldgs Ltd | Trimmed | −895,199 | −$22.7M | 0.3% |
| Copt Defense Properties | Exited | −709,216 | −$22M | — |
Showing the 10 largest of 50 changes.
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | Trimmed | −1,698,000 | −$158M | 1.7% |
| IR Independence Rlty Tr Inc | Exited | −1,558,543 | −$32M | — |
| Udr Inc | New | +616,034 | +$26.7M | 4.9% |
| SP Simon Ppty Group Inc New | New | +144,602 | +$24.9M | 4.6% |
| EP Essex Ppty Tr Inc | Exited | −84,025 | −$24.8M | — |
| SI Stag Indl Inc | Exited | −628,680 | −$24.6M | — |
| AC Avalonbay Cmntys Inc | New | +103,655 | +$22.8M | 4.2% |
| CP Camden Ppty Tr | New | +192,172 | +$22.3M | 4.1% |
| WC Weyerhaeuser Co Mtn Be | Exited | −624,677 | −$21.2M | — |
| GH Gds Hldgs Ltd | Added | +737,125 | +$17.5M | 4.2% |
Showing the 10 largest of 49 changes.
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Tr | Added | +1,198,000 | +$122M | 25.2% |
| Udr Inc | Exited | −1,123,755 | −$46.2M | — |
| EP Eastgroup Pptys Inc | Trimmed | −214,584 | −$40.1M | 1.4% |
| Americold Realty Trust Inc | Exited | −1,474,944 | −$37.7M | — |
| American Homes 4 Rent | Exited | −947,645 | −$35.2M | — |
| RC Regency Ctrs Corp | New | +465,568 | +$33.6M | 4.6% |
| FR Federal Rlty Invt Tr New | Trimmed | −280,641 | −$32.3M | 1.3% |
| Equinix Inc | Added | +36,275 | +$32.2M | 5.2% |
| HR Healthcare Rlty Tr | Exited | −1,853,543 | −$30.5M | — |
| DR Digital Rlty Tr Inc | Trimmed | −181,117 | −$29.3M | 4.9% |
Showing the 10 largest of 48 changes.
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