与标普500指数的表现对比

03
追踪时间 Q1 2025–Q4 2025 +7.9%
标普500指数同期总回报率 +26.1%
超额回报 -18.2%

年化：+10.6% · 标普500指数：+36.0%

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：98.7% · 已排除期权：0.0%

行业细分

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Financials 43.8%
Utilities 26.4%
Real Estate 11.8%
Industrials 9.3%
Energy 7.9%
其他/未映射 0.8%

完整投资组合 28 持仓

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类型 连胜 8个季度趋势
CG The Carlyle Group Inc. - Common Stock $1678606 5.67% 28398 $-101949
APO Apollo Global Management, Inc. (New) Common Stock $1597282 5.40% 11034 $126781
NEE NextEra Energy, Inc. Common Stock $1590267 5.37% 19809 $94886
BX Blackstone Inc. Common Stock $1582555 5.35% 10267 $-171562
KKR KKR & Co. Inc. Common Stock $1468697 4.96% 11521 $-28457
UNP Union Pacific Corporation Common Stock $1464950 4.95% 6333 $-31981
ARES Ares Management Corporation Class A Common Stock $1443518 4.88% 8931 $15540
SRE DBA Sempra Common Stock $1418732 4.79% 16069 $-27157
ATO Atmos Energy Corporation Common Stock $1367190 4.62% 8156 $-25447
D Dominion Energy, Inc. Common Stock $1285699 4.35% 21944 $-56615
AMT American Tower Corporation (REIT) Common Stock $1248127 4.22% 7109 $-119076
CCI Crown Castle Inc. Common Stock $1179927 3.99% 13277 $-101171
BAM Brookfield Asset Management Inc Class A Limited Voting Shares $1179037 3.98% 22505 $-102398
AWK American Water Works Company, Inc. Common Stock $1074276 3.63% 8232 $-71536
SO Southern Company (The) Common Stock $1062009 3.59% 12179 $-92195
SBAC SBA Communications Corporation - Class A Common Stock $1054580 3.56% 5452 $436
TPG TPG Inc. - Class A Common Stock $956323 3.23% 14980 $95722
STEP StepStone Group Inc. - Class A Common Stock $921674 3.11% 14363 $-16374
HLNE Hamilton Lane Incorporated - Class A Common Stock $837423 2.83% 6235 $-2993
CSX CSX Corporation - Common Stock $739283 2.50% 20394 $15092
WMB Williams Companies, Inc. (The) Common Stock $689041 2.33% 11463 $-37140
BN Brookfield Corporation Class A Limited Voting Shares $668939 2.26% 14577 $2479 上涨 ×1
OWL Blue Owl Capital Inc. Class A Common Stock $634293 2.14% 42456 $-84487
KMI Kinder Morgan, Inc. Common Stock $568081 1.92% 20665 $-16945
OKE ONEOK, Inc. Common Stock $565436 1.91% 7693 $4078
NSC Norfolk Southern Corporation Common Stock $540773 1.83% 1873 $-21895
LNG Cheniere Energy, Inc. Common Stock $525436 1.78% 2703 $-109715
IGF iShares Global Infrastructure ETF $246422 0.83% 4016 $-17066 下跌 ×1

季度涨幅榜

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证券操作股份变动价值变动
BX 仅价格变动 +0 -$172K
APO 仅价格变动 +0 +$127K
AMT 仅价格变动 +0 -$119K
LNG 仅价格变动 +0 -$110K
BAM 仅价格变动 +0 -$102K
CG 仅价格变动 +0 -$102K
CCI 仅价格变动 +0 -$101K
TPG 仅价格变动 +0 +$96K
NEE 仅价格变动 +0 +$95K
SO 仅价格变动 +0 -$92K

已退出持仓

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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
SPY 2025年6月30日 10828 $3091749 不再跟踪
BIP 2025年6月30日 87506 $1333013 10.6%
VIG 2025年6月30日 9002 $930570
VONG 2025年6月30日 17284 $834739
GNR 2025年6月30日 25352 $692623