Q1 2025 Holdings
Filed 2025-05-15 | 36 holdings | $379.9M | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Essex Ppty TR Inc(ESS) | COM | 297178105 | $39.8M | 129,848 | 10.5% |
| Douglas Emmett Inc(DEI) | COM | 25960P109 | $25.2M | 1,576,062 | 6.6% |
| First Indl Rlty TR Inc(FR) | COM | 32054K103 | $22.7M | 420,215 | 6.0% |
| Costar Group Inc(CSGP) | COM | 22160N109 | $22.4M | 282,966 | 5.9% |
| Ventas Inc(VTR) | COM | 92276F100 | $22.3M | 323,596 | 5.9% |
| Camden Ppty TR(CPT) | SH BEN INT | 133131102 | $20.6M | 168,488 | 5.4% |
| Apartment Invt & Mgmt Co(AIV) | CL A | 03748R747 | $18.0M | 2,048,316 | 4.7% |
| Hilton Worldwide Hldgs Inc(HLT) | COM | 43300A203 | $17.9M | 78,585 | 4.7% |
| Churchill Downs Inc(CHDN) | COM | 171484108 | $17.8M | 159,926 | 4.7% |
| Cohen & Steers Inc(CNS) | COM | 19247A100 | $15.9M | 197,657 | 4.2% |
| Cbre Group Inc(CBRE) | CL A | 12504L109 | $15.4M | 117,550 | 4.0% |
| Brookdale SR Living Inc(BKD) | COM | 112463104 | $13.0M | 2,082,092 | 3.4% |
| Murphy USA Inc(MUSA) | COM | 626755102 | $12.0M | 25,490 | 3.2% |
| Nexpoint Residential TR Inc(NXRT) | COM | 65341D102 | $11.6M | 292,415 | 3.0% |
| Avalonbay Cmntys Inc(AVB) | COM | 053484101 | $11.1M | 51,525 | 2.9% |
| Spdr S&P 500 ETF TR(SPY)Put | TR UNIT | 78462F103 | $10.6M | 19,000 | 2.8% |
| Prologis Inc.(PLD) | COM | 74340W103 | $10.1M | 90,408 | 2.7% |
| Vanguard Index FDS(VNQ)Put | REAL ESTATE ETF | 922908553 | $8.5M | 93,600 | 2.2% |
| Ishares TR(HYG)Put | IBOXX HI YD ETF | 464288513 | $7.4M | 94,000 | 2.0% |
| Hyatt Hotels Corp(H) | COM CL A | 448579102 | $6.5M | 53,074 | 1.7% |
| Blackstone Inc(BX) | COM | 09260D107 | $6.1M | 43,803 | 1.6% |
| Ishares TR(TLT)Put | 20 YR TR BD ETF | 464287432 | $5.1M | 56,000 | 1.3% |
| Cbre Group Inc(CBRE)Call | CL A | 12504L109 | $4.9M | 37,500 | 1.3% |
| Hilton Worldwide Hldgs Inc(HLT)Call | COM | 43300A203 | $4.8M | 21,100 | 1.3% |
| Hudson PAC Pptys Inc | COM | 444097109 | $4.6M | 1,558,637 | 1.2% |
| Hyatt Hotels Corp(H)Call | COM CL A | 448579102 | $4.2M | 34,300 | 1.1% |
| Brookfield Asset Managmt LTD(BAM) | CL A LMT VTG SHS | 113004105 | $3.7M | 76,460 | 1.0% |
| Costar Group Inc(CSGP)Call | COM | 22160N109 | $3.3M | 42,200 | 0.9% |
| Prologis Inc.(PLD)Call | COM | 74340W103 | $3.2M | 28,600 | 0.8% |
| Chatham Lodging TR(CLDT) | COM | 16208T102 | $2.5M | 353,237 | 0.7% |
| Brookfield Asset Managmt LTD(BAM)Call | CL A LMT VTG SHS | 113004105 | $1.8M | 37,500 | 0.5% |
| Expedia Group Inc(EXPE)Call | COM NEW | 30212P303 | $1.7M | 10,000 | 0.4% |
| Blackstone Inc(BX)Call | COM | 09260D107 | $1.7M | 12,000 | 0.4% |
| Douglas Emmett Inc(DEI)Call | COM | 25960P109 | $1.7M | 103,300 | 0.4% |
| Boyd Gaming Corp(BYD)Call | COM | 103304101 | $1.6M | 24,000 | 0.4% |
| Golden Entmt Inc(GDEN) | COM | 381013101 | $410.7K | 15,564 | 0.1% |