与标普500指数的表现对比

03
追踪时间 Q1 2025–Q3 2025 +3.8%
标普500指数同期总回报率 +21.3%
超额回报 -17.5%

近似于基于季度SEC 13F快照构建的买入并持有投资组合。不包括现金、空头头寸、期权/衍生品和非13(f)证券——仅反映已披露的多头股票账簿，而非基金总资产管理规模。SEC文件延迟最多可达45天；这不是一个可实时复制的交易。

可定价覆盖率：100.0% · 已排除期权：0.0%

行业细分

04
Real Estate 61.3%
Industrials 13.9%
Consumer Discretionary 7.5%
Utilities 3.0%
其他/未映射 14.3%

完整投资组合 36 持仓

05
类型 连胜 8个季度趋势
VGSH Vanguard Short-Term Treasury ETF $13585817 14.34% 230855 $16160
FTAI FTAI Aviation Ltd. - Common Stock $7147949 7.54% 42838 $1707937 下跌 ×2
AMT American Tower Corporation (REIT) Common Stock $6386178 6.74% 33206 $-871456 上涨 ×1
PLD Prologis, Inc. Common Stock $5663014 5.98% 49450 $1007670 上涨 ×3
FIP FTAI Infrastructure Inc. - Common Stock $5615676 5.93% 1287999 $-5284832 下跌 ×2
EQIX Equinix, Inc. - Common Stock $5066780 5.35% 6469 $-1018566 下跌 ×3
CZR Caesars Entertainment, Inc. - Common Stock $4597196 4.85% 170109 $2209597 上涨 ×1
DLR Digital Realty Trust, Inc. Common Stock $4192859 4.43% 24253 $-85374 下跌 ×3
SPG Simon Property Group, Inc. Common Stock $4133995 4.36% 22028 $508696 下跌 ×3
MAC Macerich Company (The) Common Stock $3172023 3.35% 174287 $-320333 下跌 ×2
VTR Ventas, Inc. Common Stock $2980454 3.15% 42584 $245870 下跌 ×2
CDZI Cadiz, Inc. - Common Stock $2837253 2.99% 601113 $-91613 下跌 ×3
MGM MGM Resorts International Common Stock $2497877 2.64% 72068 $472581 上涨 ×1
IRM Iron Mountain Incorporated (Delaware)Common Stock REIT $2490700 2.63% 24433 $134770 上涨 ×1
CBRE CBRE Group Inc Common Stock Class A $2473377 2.61% 15698 $975774 上涨 ×2
WELL Welltower Inc. Common Stock $2266475 2.39% 12723 $829714 上涨 ×1
CCI Crown Castle Inc. Common Stock $2239147 2.36% 23206 $112636 上涨 ×1
EXR Extra Space Storage Inc Common Stock $2183161 2.30% 15490 $459 上涨 ×1
CSGP CoStar Group, Inc. - Common Stock $2055591 2.17% 24364 $835843 上涨 ×2
PSA Public Storage Common Stock $1452049 1.53% 5027 $212349 上涨 ×1
ARE Alexandria Real Estate Equities, Inc. Common Stock $1443115 1.52% 17316 $185454
Z Zillow Group, Inc. - Class C Capital Stock $1258115 1.33% 15621 $781215 上涨 ×1
INVH Invitation Homes Inc. Common Stock $1225026 1.29% 41767 $-276361 下跌 ×3
AVB AvalonBay Communities, Inc. Common Stock $1146078 1.21% 5933 $208350 上涨 ×1
SBAC SBA Communications Corporation - Class A Common Stock $992079 1.05% 5131 $-212885
EQR Equity Residential Common Shares of Beneficial Interest $923956 0.98% 14274 $142624 上涨 ×1
WY Weyerhaeuser Company Common Stock $721538 0.76% 29106 $151426 上涨 ×1
REXR Rexford Industrial Realty, Inc. Common Stock $626475 0.66% 15239 $-865295 下跌 ×3
SUI Sun Communities, Inc. Common Stock $594561 0.63% 4609 $-620122 下跌 ×3
NLY Annaly Capital Management Inc. Common Stock $553208 0.58% 27373 $104765 上涨 ×1
AGNC AGNC Investment Corp. - Common Stock $461275 0.49% 47117 $111880 上涨 ×1
AMH American Homes 4 Rent Common Shares of Beneficial Interest $443389 0.47% 13335 $34716 上涨 ×1
KEX Kirby Corporation Common Stock $426596 0.45% 5112 $-390863 下跌 ×3
ELS Equity Lifestyle Properties, Inc. Common Stock $426235 0.45% 7022 $-6812
CUBE CubeSmart Common Shares $347033 0.37% 8535 $-15705
COLD Americold Realty Trust, Inc. Common Stock $123183 0.13% 10064 $-44181

重仓股

08

持仓连续增加3个季度以上。

持股数量按13F申报数据报告（未按拆股调整）

证券价值% 占投资组合连胜
PLD $5663014 5.98% 上涨 ×3

季度涨幅榜

10
证券操作股份变动价值变动
FIP 削减 -479K -$5.3M
CZR 增持 +86K +$2.2M
FTAI 削减 -4K +$1.7M
EQIX 削减 -1K -$1.0M
PLD 增持 +5K +$1.0M
CBRE 增持 +5K +$976K
AMT 增持 +369 -$871K
REXR 削减 -27K -$865K
CSGP 增持 +9K +$836K
WELL 增持 +3K +$830K

已退出持仓

11

包含公司事件（合并、退市）——并非所有退出都是卖出

已关闭的头寸反映了 13F 报告的变更；对于指数管理人来说，这些通常是机械性的（退市、并购、指数再平衡），而不是主动决策。

证券季度先前持股数先前价值退出后价格
WYNN 2025年6月30日 167829 $14013722 -22.4%
NFE 2025年9月30日 721483 $2395324 57.5%
GEV 2025年9月30日 3013 $1594329 32.5%
VICI 2025年9月30日 36184 $1179598 -27.1%
BX 2025年9月30日 3443 $515004 -31.0%