与标普500指数的表现对比

03
追踪时间 Q1 2025–Q2 2026 +20.1%
标普500指数同期总回报率 +37.0%
超额回报 -16.9%

年化：+15.8% · 标普500指数：+28.7%

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 93.7%
Health Care 2.1%
Energy 1.1%
Consumer Discretionary 0.8%
Utilities 0.7%
Industrials 0.1%
Technology 0.1%
其他/未映射 1.5%

完整投资组合 83 持仓

05
类型 连胜 8个季度趋势
WELL Welltower Inc. Common Stock $83214219 11.53% 352513 $21338304 上涨 ×2
EQIX Equinix, Inc. - Common Stock $63071147 8.74% 62944 $9086389 上涨 ×1
PLD Prologis, Inc. Common Stock $62668905 8.68% 449465 $-1733553 下跌 ×1
DLR Digital Realty Trust, Inc. Common Stock $42679631 5.91% 246276 $4952848 上涨 ×2
EQR Equity Residential Common Shares of Beneficial Interest $32986505 4.57% 472383 $13941625 上涨 ×1
SPG Simon Property Group, Inc. Common Stock $29076289 4.03% 128622 $9038490 上涨 ×1
UDR UDR, Inc. Common Stock $28508941 3.95% 693817 $17510849 上涨 ×1
BRX Brixmor Property Group Inc. Common Stock $28321800 3.92% 907750 $11173704 上涨 ×2
CUBE CubeSmart Common Shares $25343097 3.51% 618426 $7224803 上涨 ×1
EGP EastGroup Properties, Inc. Common Stock $22258332 3.08% 105325 $7653806 上涨 ×2
EXR Extra Space Storage Inc Common Stock $20952999 2.90% 140304 $2822965 上涨 ×1
GLPI Gaming and Leisure Properties, Inc. - Common Stock $20645381 2.86% 469747 $6241548 上涨 ×2
AHR American Healthcare REIT, Inc. Common Stock $18595539 2.58% 337855 $18106961 上涨 ×1
EPRT Essential Properties Realty Trust, Inc. Common Stock $17964295 2.49% 576148 $1122449 上涨 ×2
SNDA Sonida Senior Living, Inc. Common Stock $14813220 2.05% 350941 $-6750646 下跌 ×6
NTST NetSTREIT Corp. Common Stock $13131981 1.82% 606278 上涨 ×1
BNL Broadstone Net Lease, Inc. Common Stock $12609963 1.75% 593410 $-2088252 下跌 ×2
SLG SL Green Realty Corp Common Stock $12604128 1.75% 235944 $-1821090 下跌 ×1
AMT American Tower Corporation (REIT) Common Stock $12566479 1.74% 75688 $12046150 上涨 ×3
FR First Industrial Realty Trust, Inc. Common Stock $11711918 1.62% 187691
未知发行人 (CUSIP: 471024109) $9950595 1.38% 341710 上涨 ×1
HST Host Hotels & Resorts, Inc. - Common Stock $9820777 1.36% 420590 $-7477063 下跌 ×1
FRT Federal Realty Investment Trust Common Stock $9819166 1.36% 80690 $-7993313 下跌 ×1
CPT Camden Property Trust Common Stock $8668175 1.20% 73929 $-5575145 下跌 ×2
VTR Ventas, Inc. Common Stock $8651638 1.20% 93511 $-1412618 下跌 ×4
CBRE CBRE Group Inc Common Stock Class A $8042310 1.11% 56804 $-7351906 下跌 ×1
COLD Americold Realty Trust, Inc. Common Stock $7143391 0.99% 439864 $6813343 上涨 ×1
SKT Tanger Inc. Common Stock $6162213 0.85% 155887 上涨 ×1
SUI Sun Communities, Inc. Common Stock $5835089 0.81% 47198 $4988638 上涨 ×1
HLT Hilton Worldwide Holdings Inc. Common Stock $5528262 0.77% 16350 $-358727 下跌 ×4
REG Regency Centers Corporation - Common Stock $4835498 0.67% 59727
INVH Invitation Homes Inc. Common Stock $4555107 0.63% 149201 $3683245 上涨 ×1
SBRA Sabra Health Care REIT, Inc. - Common Stock $3072868 0.43% 152424
AVB AvalonBay Communities, Inc. Common Stock $3047306 0.42% 15711 $2170116 上涨 ×3
VICI VICI Properties Inc. Common Stock $2934807 0.41% 107937
ADC Agree Realty Corporation Common Stock $2855860 0.40% 36703 $-13303275 下跌 ×1
DOC Healthpeak Properties, Inc. Common Stock $2844693 0.39% 129954 上涨 ×1
WPC W. P. Carey Inc. REIT $2810507 0.39% 39407 上涨 ×1
O Realty Income Corporation Common Stock $2602182 0.36% 40761 上涨 ×1
PSA Public Storage Common Stock $2339785 0.32% 7098
CDP COPT Defense Properties Common Shares of Beneficial Interest $2184935 0.30% 58002 上涨 ×1
HR Healthcare Realty Trust Incorporated Common Stock $2089421 0.29% 101379 上涨 ×1
SBAC SBA Communications Corporation - Class A Common Stock $1990480 0.28% 10785 上涨 ×1
HIW Highwoods Properties, Inc. Common Stock $1818664 0.25% 57083 $1080597 上涨 ×2
ENB Enbridge Inc Common Stock $1810822 0.25% 33525 上涨 ×1
KMI Kinder Morgan, Inc. Common Stock $1513360 0.21% 47204 上涨 ×1
KRG Kite Realty Group Trust Common Stock $1300781 0.18% 45355
ED Consolidated Edison, Inc. Common Stock $1177061 0.16% 10326 上涨 ×1
ARE Alexandria Real Estate Equities, Inc. Common Stock $1158180 0.16% 22027 上涨 ×1
VNQI Vanguard Global ex-U.S. Real Estate ETF $1119651 0.16% 24700 上涨 ×1
ES Eversource Energy (D/B/A) Common Stock $1074169 0.15% 14430 上涨 ×1
CCI Crown Castle Inc. Common Stock $1044058 0.14% 13630 $-8690375 下跌 ×1
WMB Williams Companies, Inc. (The) Common Stock $1030689 0.14% 14092 上涨 ×1
CURB Curbline Properties Corp. Common Stock $879860 0.12% 29000 上涨 ×1
FER Ferrovial SE - Ordinary Shares $864769 0.12% 12560 上涨 ×1
BDN Brandywine Realty Trust Common Stock $861821 0.12% 265994 $734072 上涨 ×1
OKE ONEOK, Inc. Common Stock $846769 0.12% 9641 上涨 ×1
AWK American Water Works Company, Inc. Common Stock $805421 0.11% 5885 上涨 ×1
REXR Rexford Industrial Realty, Inc. Common Stock $773146 0.11% 22600 上涨 ×1
RHP Ryman Hospitality Properties, Inc. (REIT) $767100 0.11% 6000 $219016 上涨 ×2
EIX Edison International Common Stock $708405 0.10% 9363 上涨 ×1
PBA Pembina Pipeline Corp. Ordinary Shares (Canada) $700795 0.10% 14886 上涨 ×1
LNG Cheniere Energy, Inc. Common Stock $694865 0.10% 2825 上涨 ×1
NNN NNN REIT, Inc. Common Stock $670173 0.09% 14100
NUAI New Era Energy & Digital, Inc. - Common Stock $640328 0.09% 134100 上涨 ×1
MAC Macerich Company (The) Common Stock $607985 0.08% 23880 $-274267 下跌 ×1
EPR EPR Properties Common Stock $568660 0.08% 9622 $252913 上涨 ×1
UE Urban Edge Properties Common Shares of Beneficial Interest $560224 0.08% 24400 上涨 ×1
LXP LXP Industrial Trust Common Stock (Maryland REIT) $552155 0.08% 9938 $-277657 下跌 ×1
SRE DBA Sempra Common Stock $544959 0.08% 5856 上涨 ×1
APLE Apple Hospitality REIT, Inc. Common Shares $539136 0.07% 32400
TRP TC Energy Corporation Common Stock $482621 0.07% 7236 上涨 ×1
KRC Kilroy Realty Corporation Common Stock $467908 0.06% 11900 上涨 ×1
MPT Medical Properties Trust, Inc. common stock $456292 0.06% 99410 $-22959 下跌 ×1
PDM Piedmont Realty Trust, Inc. Class A Common Stock $433815 0.06% 45142
WULF TeraWulf Inc. - Common Stock $404538 0.06% 19100 上涨 ×1
IRT Independence Realty Trust, Inc. Common Stock $400150 0.06% 23090 $72719 上涨 ×1
FTS Fortis Inc. Common Shares $397983 0.06% 6902 上涨 ×1
AKR Acadia Realty Trust Common Stock $370098 0.05% 17400 $40087 上涨 ×1
CUZ Cousins Properties Incorporated Common Stock $366197 0.05% 11790 $-170743 下跌 ×1
SHO Sunstone Hotel Investors, Inc. Sunstone Hotel Investors, Inc. Common Shares $271982 0.04% 23900
DEA Easterly Government Properties, Inc. Common Stock $260278 0.04% 10191 上涨 ×1
SOBO South Bow Corporation Common Shares $255127 0.04% 7347 上涨 ×1

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
AMT $12566479 1.74% 上涨 ×3
AVB $3047306 0.42% 上涨 ×3

最大新仓位

09

本季度新开仓位，按规模从大到小排序。

证券价值股份% 占投资组合
NTST $13131981 606278 1.82%
FR $11711918 187691 1.62%
未知发行人 (CUSIP: 471024109) $9950595 341710 1.38%
SKT $6162213 155887 0.85%
REG $4835498 59727 0.67%
SBRA $3072868 152424 0.43%
VICI $2934807 107937 0.41%
DOC $2844693 129954 0.39%
WPC $2810507 39407 0.39%
O $2602182 40761 0.36%
PSA $2339785 7098 0.32%
CDP $2184935 58002 0.30%
HR $2089421 101379 0.29%
SBAC $1990480 10785 0.28%
ENB $1810822 33525 0.25%

季度涨幅榜

10
证券操作股份变动价值变动
WELL 增持 +40K +$21.3M
UDR 增持 +368K +$17.5M
EQR 增持 +150K +$13.9M
BRX 增持 +312K +$11.2M
EQIX 增持 +8K +$9.1M
SPG 增持 +21K +$9.0M
FRT 削减 -87K -$8.0M
EGP 增持 +26K +$7.7M
HST 削减 -482K -$7.5M
CBRE 削减 -57K -$7.4M

4 positions hidden — reported move looks larger than the position itself (data completeness check)

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
VICI 2025年9月30日 766949 $25316986 -30.9%
SUI 2025年6月30日 155294 $19977020 -11.6%
FR 2025年6月30日 247995 $13381810 23.0%
NNN 2025年9月30日 297980 $12875716 -5.1%
MAC 2025年6月30日 730133 $12536384 41.3%
SHO 2025年6月30日 931542 $8765810 30.4%
HPP 2025年9月30日 2227200 $6035712 -41.8%
IYR 2026年6月30日 19190 $1814606 -7.7%
VRE 2026年3月31日 117887 $1749443 不再跟踪
VNQ 2026年3月31日 9180 $812614
PK 2026年6月30日 52030 $547876 7.1%
KIM 2026年6月30日 23930 $537707 -13.1%
SMA 2026年6月30日 16990 $514457 -0.1%
APLE 2026年3月31日 40960 $493978 42.5%
UHG 2025年6月30日 155987 $436764 不再跟踪
PDM 2026年3月31日 46430 $384905 36.4%
ESRT 2026年3月31日 59110 $382442 -18.7%
REG 2026年3月31日 5370 $364945 -5.7%
MAR 2025年12月31日 1150 $299506 14.7%
UMH 2026年3月31日 18360 $291924 6.5%
DEI 2026年3月31日 24510 $271326 2.3%
SBRA 2026年3月31日 13920 $266568 -0.8%
GTY 2026年3月31日 9670 $266505 -12.4%
PSA 2025年12月31日 870 $251300 8.5%
KRG 2025年12月31日 9600 $214080 0.7%
APLE 2025年6月30日 12730 $164344 40.5%
HST 2025年6月30日 11470 $162989 46.1%
CHCT 2025年12月31日 10300 $157590 -18.6%
GNL 2026年6月30日 13300 $124488 -8.9%
MPT 2025年12月31日 23560 $119449 -33.8%
LXP (申报为 LXPXXXX) 2025年9月30日 14190 $118487 36.0%
GNL 2025年6月30日 10680 $85867 7.8%
MPT 2025年6月30日 14200 $85626 -23.2%
ESRT 2025年6月30日 10860 $84925 -47.7%