Q3 2025 Holdings
Filed 2025-11-14 | 68 holdings | $327.6M | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Essex Ppty TR Inc(ESS)Call | COM | 297178105 | $26.2M | 97,800 | 8.0% |
| Costar Group Inc(CSGP) | COM | 22160N109 | $12.6M | 149,385 | 3.8% |
| Howard Hughes Holdings Inc(HHH) | COM | 44267T102 | $12.5M | 151,690 | 3.8% |
| Ishares TR(IWM)Put | RUSSELL 2000 ETF | 464287655 | $12.1M | 50,000 | 3.7% |
| Douglas Emmett Inc(DEI) | COM | 25960P109 | $11.0M | 706,218 | 3.4% |
| Hudson PAC Pptys Inc | COM | 444097109 | $10.8M | 3,914,346 | 3.3% |
| Alexandria Real Estate EQ in(ARE)Call | COM | 015271109 | $9.8M | 117,400 | 3.0% |
| Cohen & Steers Inc(CNS) | COM | 19247A100 | $9.7M | 148,098 | 3.0% |
| Kilroy Rlty Corp(KRC)Call | COM | 49427F108 | $9.3M | 220,500 | 2.8% |
| Douglas Emmett Inc(DEI)Call | COM | 25960P109 | $9.0M | 580,000 | 2.8% |
| Essex Ppty TR Inc(ESS) | COM | 297178105 | $8.5M | 31,777 | 2.6% |
| Hilton Worldwide Hldgs Inc(HLT) | COM | 43300A203 | $8.4M | 32,224 | 2.6% |
| Nexpoint Residential TR Inc(NXRT) | COM | 65341D102 | $8.0M | 248,899 | 2.4% |
| Brookdale SR Living Inc(BKD) | COM | 112463104 | $8.0M | 942,815 | 2.4% |
| Equity Residential(EQR)Call | SH BEN INT | 29476L107 | $7.9M | 122,300 | 2.4% |
| Blackstone Inc(BX) | COM | 09260D107 | $7.8M | 45,684 | 2.4% |
| Hilton Grand Vacations Inc(HGV) | COM | 43283X105 | $6.9M | 165,484 | 2.1% |
| Apartment Invt & Mgmt Co(AIV) | CL A | 03748R747 | $6.8M | 863,517 | 2.1% |
| U Haul Holding Company(UHAL) | COM | 023586100 | $6.5M | 114,393 | 2.0% |
| UDR Inc(UDR)Call | COM | 902653104 | $6.1M | 164,200 | 1.9% |
| Independence Rlty TR Inc(IRT)Call | COM | 45378A106 | $6.0M | 366,000 | 1.8% |
| Ventas Inc(VTR)Call | COM | 92276F100 | $5.5M | 78,300 | 1.7% |
| Avalonbay Cmntys Inc(AVB)Call | COM | 053484101 | $5.4M | 28,000 | 1.7% |
| Hudson PAC Pptys IncCall | COM | 444097109 | $5.2M | 1,882,909 | 1.6% |
| Digital Rlty TR Inc(DLR)Call | COM | 253868103 | $5.1M | 29,300 | 1.5% |
| Champion Homes Inc(SKY)Call | COM | 830830105 | $5.1M | 66,300 | 1.5% |
| Howard Hughes Holdings Inc(HHH)Call | COM | 44267T102 | $5.1M | 61,500 | 1.5% |
| Caretrust REIT Inc(CTRE)Call | COM | 14174T107 | $4.9M | 140,000 | 1.5% |
| Rexford Indl Rlty Inc(REXR)Call | COM | 76169C100 | $4.6M | 112,200 | 1.4% |
| WP Carey Inc(WPC)Call | COM | 92936U109 | $4.6M | 67,500 | 1.4% |
| Invitation Homes Inc(INVH)Call | COM | 46187W107 | $4.5M | 153,200 | 1.4% |
| Healthpeak Properties Inc(DOC)Call | COM | 42250P103 | $4.4M | 230,600 | 1.3% |
| Apartment Invt & Mgmt Co(AIV)Call | CL A | 03748R747 | $4.1M | 518,200 | 1.3% |
| BXP Inc(BXP)Call | COM | 101121101 | $3.9M | 52,000 | 1.2% |
| Cohen & Steers Inc(CNS)Call | COM | 19247A100 | $3.7M | 55,700 | 1.1% |
| Taylor Morrison Home Corp(TMHC)Call | COM | 87724P106 | $3.6M | 54,500 | 1.1% |
| EPR Pptys(EPR)Call | COM SH BEN INT | 26884U109 | $3.3M | 57,100 | 1.0% |
| Nexpoint Residential TR Inc(NXRT)Call | COM | 65341D102 | $3.2M | 100,000 | 1.0% |
| Meritage Homes Corp(MTH)Call | COM | 59001A102 | $3.0M | 42,000 | 0.9% |
| Acadia Rlty TR(AKR)Call | COM SH BEN INT | 004239109 | $2.9M | 142,800 | 0.9% |
| American Tower Corp New(AMT)Call | COM | 03027X100 | $2.8M | 14,300 | 0.8% |
| Equinix Inc(EQIX)Call | COM | 29444U700 | $2.7M | 3,400 | 0.8% |
| Weyerhaeuser Co MTN BE(WY)Call | COM NEW | 962166104 | $2.6M | 105,800 | 0.8% |
| Healthcare Rlty TR(HR)Call | CL A COM | 42226K105 | $2.3M | 127,800 | 0.7% |
| SBA Communications Corp New(SBAC)Call | CL A | 78410G104 | $2.2M | 11,500 | 0.7% |
| Equity Residential(EQR) | SH BEN INT | 29476L107 | $2.2M | 33,641 | 0.7% |
| Public Storage Oper Co(PSA)Call | COM | 74460D109 | $2.2M | 7,500 | 0.7% |
| Willscot Hldgs Corp(WSC)Call | COM CL A | 971378104 | $2.1M | 100,000 | 0.6% |
| Braemar Hotels & Resorts Inc(BHR) | COM | 10482B101 | $2.1M | 773,000 | 0.6% |
| Wyndham Hotels & Resorts Inc(WH)Call | COM | 98311A105 | $2.1M | 25,700 | 0.6% |