Q4 2025 Holdings
Filed 2026-02-17 | 39 holdings | $311.1M | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Agree Rlty Corp(ADC) | COM | 008492100 | $21.7M | 301,782 | 7.0% |
| Essex Ppty TR Inc(ESS) | COM | 297178105 | $20.2M | 77,089 | 6.5% |
| Equity Residential(EQR) | SH BEN INT | 29476L107 | $18.1M | 287,825 | 5.8% |
| Meritage Homes Corp(MTH) | COM | 59001A102 | $16.0M | 243,124 | 5.1% |
| Four Corners Ppty TR Inc(FCPT) | COM | 35086T109 | $15.5M | 673,305 | 5.0% |
| Choice Hotels Intl Inc(CHH) | COM | 169905106 | $14.2M | 148,795 | 4.6% |
| Phillips Edison & Co Inc(PECO) | COMMON STOCK | 71844V201 | $13.2M | 371,486 | 4.2% |
| UDR Inc(UDR) | COM | 902653104 | $13.0M | 353,090 | 4.2% |
| American Tower Corp New(AMT) | COM | 03027X100 | $11.3M | 64,305 | 3.6% |
| Avalonbay Cmntys Inc(AVB) | COM | 053484101 | $10.6M | 58,352 | 3.4% |
| TRI Pointe Homes Inc(TPH) | COM | 87265H109 | $10.5M | 334,828 | 3.4% |
| Invitation Homes Inc(INVH) | COM | 46187W107 | $9.8M | 351,366 | 3.1% |
| Wyndham Hotels & Resorts Inc(WH) | COM | 98311A105 | $9.7M | 127,814 | 3.1% |
| Public Storage Oper Co(PSA) | COM | 74460D109 | $9.5M | 36,578 | 3.1% |
| Vici Pptys Inc(VICI) | COM | 925652109 | $8.9M | 316,683 | 2.9% |
| Diamondrock Hospitality Co(DRH) | COM | 252784301 | $8.5M | 949,477 | 2.7% |
| Gaming & Leisure Pptys Inc(GLPI) | COM | 36467J108 | $8.3M | 185,694 | 2.7% |
| Equity Lifestyle Pptys Inc(ELS) | COM | 29472R108 | $8.1M | 133,592 | 2.6% |
| Rexford Indl Rlty Inc(REXR) | COM | 76169C100 | $7.2M | 185,944 | 2.3% |
| Broadstone NET Lease Inc(BNL) | COM | 11135E203 | $7.2M | 411,855 | 2.3% |
| Eastgroup Pptys Inc(EGP) | COM | 277276101 | $6.8M | 38,110 | 2.2% |
| Cubesmart(CUBE) | COM | 229663109 | $6.4M | 178,792 | 2.1% |
| Digital Rlty TR Inc(DLR) | COM | 253868103 | $6.3M | 40,726 | 2.0% |
| Ryman Hospitality Pptys Inc(RHP) | COM | 78377T107 | $6.0M | 63,196 | 1.9% |
| NNN REIT Inc(NNN) | COM | 637417106 | $5.6M | 141,783 | 1.8% |
| Regency Ctrs Corp(REG) | COM | 758849103 | $5.2M | 75,834 | 1.7% |
| Kimco Rlty Corp(KIM) | COM | 49446R109 | $4.2M | 206,723 | 1.3% |
| Lennar Corp(LEN) | CL A | 526057104 | $3.6M | 35,436 | 1.2% |
| American Homes 4 Rent(AMH) | CL A | 02665T306 | $3.4M | 105,996 | 1.1% |
| Extra Space Storage Inc(EXR) | COM | 30225T102 | $3.3M | 25,197 | 1.1% |
| National Health Invs Inc(NHI) | COM | 63633D104 | $3.3M | 42,815 | 1.1% |
| Healthpeak Properties Inc(DOC) | COM | 42250P103 | $2.8M | 173,245 | 0.9% |
| SBA Communications Corp New(SBAC) | CL A | 78410G104 | $2.8M | 14,318 | 0.9% |
| Equinix Inc(EQIX) | COM | 29444U700 | $2.6M | 3,441 | 0.8% |
| Crown Castle Inc(CCI) | COM | 22822V101 | $2.4M | 27,223 | 0.8% |
| First Indl Rlty TR Inc(FR) | COM | 32054K103 | $1.8M | 31,000 | 0.6% |
| SUN Cmntys Inc(SUI) | COM | 866674104 | $1.5M | 12,482 | 0.5% |
| Sila Realty Trust Inc(SILA) | COMMON STOCK | 146280508 | $1.0M | 44,832 | 0.3% |
| Netstreit Corp(NTST) | COM | 64119V303 | $531.6K | 30,135 | 0.2% |