Q3 2023
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| Sell | FEDERAL RLTY INVT TR NEWsh ben int new | $13,924,937 | -12.6% | 153,646 | -6.7% | 14.10% | -18.6% | |
| NNN | Buy | NNN REIT INC | $11,517,306 | +42.3% | 325,900 | +72.3% | 11.66% | +32.5% |
| YUM | Buy | YUM BRANDS INC | $11,334,307 | +36.5% | 90,718 | +51.4% | 11.48% | +27.1% |
| PFGC | Sell | PERFORMANCE FOOD GROUP CO | $8,761,253 | -32.6% | 148,849 | -31.0% | 8.87% | -37.3% |
| HLT | Sell | HILTON WORLDWIDE HLDGS INC | $8,655,775 | -0.5% | 57,636 | -3.6% | 8.76% | -7.4% |
| MAA | Sell | MID-AMER APT CMNTYS INC | $7,448,835 | -45.5% | 57,900 | -35.7% | 7.54% | -49.3% |
| EQR | New | EQUITY RESIDENTIALsh ben int | $6,552,036 | – | 111,600 | – | 6.63% | – |
| CPT | New | CAMDEN PPTY TRsh ben int | $6,336,860 | – | 67,000 | – | 6.42% | – |
| ADC | New | AGREE RLTY CORP | $4,999,220 | – | 90,500 | – | 5.06% | – |
| CBRE | New | CBRE GROUP INCcl a | $4,564,548 | – | 61,800 | – | 4.62% | – |
| MCD | New | MCDONALDS CORP | $3,846,224 | – | 14,600 | – | 3.89% | – |
| BURL | New | BURLINGTON STORES INC | $3,463,680 | – | 25,600 | – | 3.51% | – |
| LPX | New | LOUISIANA PAC CORP | $2,922,402 | – | 52,875 | – | 2.96% | – |
| AZO | Sell | AUTOZONE INC | $2,539,990 | -32.1% | 1,000 | -33.3% | 2.57% | -36.8% |
| EXR | New | EXTRA SPACE STORAGE INC | $1,904,430 | – | 15,664 | – | 1.93% | – |
| LSI | Exit | LIFE STORAGE INC | $0 | – | -23,200 | – | -3.36% | – |
| APLE | Exit | APPLE HOSPITALITY REIT INC | $0 | – | -238,133 | – | -3.91% | – |
| LOW | Exit | LOWES COS INC | $0 | – | -19,500 | – | -4.79% | – |
| AVB | Exit | AVALONBAY CMNTYS INC | $0 | – | -49,800 | – | -10.25% | – |
Q2 2023
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| New | FEDERAL RLTY INVT TR NEWsh ben int new | $15,932,793 | – | 164,646 | – | 17.33% | – | |
| MAA | New | MID-AMER APT CMNTYS INC | $13,667,400 | – | 90,000 | – | 14.87% | – |
| PFGC | New | PERFORMANCE FOOD GROUP CO | $12,996,720 | – | 215,749 | – | 14.14% | – |
| AVB | New | AVALONBAY CMNTYS INC | $9,425,646 | – | 49,800 | – | 10.25% | – |
| HLT | New | HILTON WORLDWIDE HLDGS INC | $8,700,251 | – | 59,775 | – | 9.46% | – |
| YUM | New | YUM BRANDS INC | $8,301,639 | – | 59,918 | – | 9.03% | – |
| NNN | New | NNN REIT INC | $8,091,589 | – | 189,100 | – | 8.80% | – |
| LOW | New | LOWES COS INC | $4,401,150 | – | 19,500 | – | 4.79% | – |
| AZO | New | AUTOZONE INC | $3,740,040 | – | 1,500 | – | 4.07% | – |
| APLE | New | APPLE HOSPITALITY REIT INC | $3,598,190 | – | 238,133 | – | 3.91% | – |
| LSI | New | LIFE STORAGE INC | $3,084,672 | – | 23,200 | – | 3.36% | – |
Q4 2022
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| FIVE | Exit | FIVE BELOW INC | $0 | – | -9,400 | – | -1.17% | – |
| DG | Exit | DOLLAR GEN CORP NEW | $0 | – | -5,500 | – | -1.20% | – |
| ROST | Exit | ROSS STORES INC | $0 | – | -23,800 | – | -1.82% | – |
| APLE | Exit | APPLE HOSPITALITY REIT INC | $0 | – | -172,338 | – | -2.20% | – |
| ORLY | Exit | OREILLY AUTOMOTIVE INC | $0 | – | -5,000 | – | -3.19% | – |
| HLT | Exit | HILTON WORLDWIDE HLDGS INC | $0 | – | -31,471 | – | -3.44% | – |
| Exit | FEDERAL RLTY INVT TR NEWsh ben int new | $0 | – | -44,768 | – | -3.66% | – | |
| DHI | Exit | D R HORTON INC | $0 | – | -69,607 | – | -4.25% | – |
| AMH | Exit | AMERICAN HOMES 4 RENTcl a | $0 | – | -144,782 | – | -4.31% | – |
| DPZ | Exit | DOMINOS PIZZA INC | $0 | – | -16,100 | – | -4.53% | – |
| PFGC | Exit | PERFORMANCE FOOD GROUP CO | $0 | – | -126,985 | – | -4.95% | – |
| CPRI | Exit | CAPRI HOLDINGS LIMITED | $0 | – | -148,332 | – | -5.17% | – |
| SHW | Exit | SHERWIN WILLIAMS CO | $0 | – | -28,100 | – | -5.22% | – |
| BURL | Exit | BURLINGTON STORES INC | $0 | – | -53,800 | – | -5.46% | – |
| H | Exit | HYATT HOTELS CORP | $0 | – | -76,671 | – | -5.63% | – |
| TSCO | Exit | TRACTOR SUPPLY CO | $0 | – | -36,600 | – | -6.17% | – |
| MAA | Exit | MID-AMER APT CMNTYS INC | $0 | – | -45,900 | – | -6.46% | – |
| AVB | Exit | AVALONBAY CMNTYS INC | $0 | – | -39,500 | – | -6.60% | – |
| ARE | Exit | ALEXANDRIA REAL ESTATE EQ IN | $0 | – | -62,304 | – | -7.92% | – |
| YUM | Exit | YUM BRANDS INC | $0 | – | -83,292 | – | -8.04% | – |
| PLD | Exit | PROLOGIS INC. | $0 | – | -93,202 | – | -8.59% | – |
Q3 2022
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| PLD | Buy | PROLOGIS INC. | $9,469,000 | +393.7% | 93,202 | +471.8% | 8.59% | +272.9% |
| YUM | Buy | YUM BRANDS INC | $8,857,000 | +10.7% | 83,292 | +18.2% | 8.04% | -16.4% |
| ARE | Buy | ALEXANDRIA REAL ESTATE EQ IN | $8,734,000 | +129.4% | 62,304 | +137.3% | 7.92% | +73.3% |
| AVB | Sell | AVALONBAY CMNTYS INC | $7,276,000 | -15.3% | 39,500 | -10.6% | 6.60% | -36.0% |
| MAA | Sell | MID-AMER APT CMNTYS INC | $7,118,000 | -18.5% | 45,900 | -8.2% | 6.46% | -38.4% |
| TSCO | New | TRACTOR SUPPLY CO | $6,803,000 | – | 36,600 | – | 6.17% | – |
| H | Sell | HYATT HOTELS CORP | $6,207,000 | -2.5% | 76,671 | -11.0% | 5.63% | -26.4% |
| BURL | Buy | BURLINGTON STORES INC | $6,020,000 | +489.0% | 53,800 | +617.3% | 5.46% | +344.8% |
| SHW | New | SHERWIN WILLIAMS CO | $5,753,000 | – | 28,100 | – | 5.22% | – |
| CPRI | Buy | CAPRI HOLDINGS LIMITED | $5,702,000 | +122.4% | 148,332 | +137.2% | 5.17% | +68.0% |
| PFGC | Sell | PERFORMANCE FOOD GROUP CO | $5,454,000 | -22.4% | 126,985 | -16.9% | 4.95% | -41.4% |
| DPZ | New | DOMINOS PIZZA INC | $4,994,000 | – | 16,100 | – | 4.53% | – |
| AMH | Sell | AMERICAN HOMES 4 RENTcl a | $4,750,000 | -23.3% | 144,782 | -17.2% | 4.31% | -42.1% |
| DHI | Sell | D R HORTON INC | $4,688,000 | -11.6% | 69,607 | -13.1% | 4.25% | -33.2% |
| New | FEDERAL RLTY INVT TR NEWsh ben int new | $4,034,000 | – | 44,768 | – | 3.66% | – | |
| HLT | Sell | HILTON WORLDWIDE HLDGS INC | $3,796,000 | -25.2% | 31,471 | -30.9% | 3.44% | -43.5% |
| ORLY | New | OREILLY AUTOMOTIVE INC | $3,517,000 | – | 5,000 | – | 3.19% | – |
| APLE | Sell | APPLE HOSPITALITY REIT INC | $2,423,000 | -34.6% | 172,338 | -31.7% | 2.20% | -50.6% |
| ROST | Sell | ROSS STORES INC | $2,006,000 | -8.4% | 23,800 | -23.7% | 1.82% | -30.9% |
| DG | New | DOLLAR GEN CORP NEW | $1,319,000 | – | 5,500 | – | 1.20% | – |
| FIVE | New | FIVE BELOW INC | $1,294,000 | – | 9,400 | – | 1.17% | – |
| DECK | Exit | DECKERS OUTDOOR CORP | $0 | – | -5,100 | – | -1.56% | – |
| NCLH | Exit | NORWEGIAN CRUISE LINE HLDG L | $0 | – | -199,100 | – | -2.66% | – |
| DEI | Exit | DOUGLAS EMMETT INC | $0 | – | -198,800 | – | -5.34% | – |
| EQR | Exit | EQUITY RESIDENTIALsh ben int | $0 | – | -66,400 | – | -5.76% | – |
Q2 2022
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| MAA | New | MID-AMER APT CMNTYS INC | $8,734,000 | – | 50,000 | – | 10.49% | – |
| AVB | New | AVALONBAY CMNTYS INC | $8,586,000 | – | 44,200 | – | 10.31% | – |
| YUM | New | YUM BRANDS INC | $8,001,000 | – | 70,489 | – | 9.61% | – |
| PFGC | New | PERFORMANCE FOOD GROUP CO | $7,026,000 | – | 152,800 | – | 8.44% | – |
| H | New | HYATT HOTELS CORP | $6,369,000 | – | 86,171 | – | 7.65% | – |
| AMH | New | AMERICAN HOMES 4 RENTcl a | $6,194,000 | – | 174,782 | – | 7.44% | – |
| DHI | New | D R HORTON INC | $5,302,000 | – | 80,106 | – | 6.37% | – |
| HLT | New | HILTON WORLDWIDE HLDGS INC | $5,078,000 | – | 45,571 | – | 6.10% | – |
| EQR | New | EQUITY RESIDENTIALsh ben int | $4,795,000 | – | 66,400 | – | 5.76% | – |
| DEI | New | DOUGLAS EMMETT INC | $4,449,000 | – | 198,800 | – | 5.34% | – |
| ARE | New | ALEXANDRIA REAL ESTATE EQ IN | $3,808,000 | – | 26,256 | – | 4.57% | – |
| APLE | New | APPLE HOSPITALITY REIT INC | $3,703,000 | – | 252,394 | – | 4.45% | – |
| CPRI | New | CAPRI HOLDINGS LIMITED | $2,564,000 | – | 62,532 | – | 3.08% | – |
| NCLH | New | NORWEGIAN CRUISE LINE HLDG L | $2,214,000 | – | 199,100 | – | 2.66% | – |
| ROST | New | ROSS STORES INC | $2,191,000 | – | 31,200 | – | 2.63% | – |
| PLD | New | PROLOGIS INC. | $1,918,000 | – | 16,300 | – | 2.30% | – |
| DECK | New | DECKERS OUTDOOR CORP | $1,302,000 | – | 5,100 | – | 1.56% | – |
| BURL | New | BURLINGTON STORES INC | $1,022,000 | – | 7,500 | – | 1.23% | – |
Q4 2021
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| DHI | Exit | D R HORTON INC | $0 | – | -37,500 | – | -1.98% | – |
| KRC | Exit | KILROY RLTY CORP | $0 | – | -60,370 | – | -2.51% | – |
| FIVE | Exit | FIVE BELOW INC | $0 | – | -23,500 | – | -2.61% | – |
| DECK | Exit | DECKERS OUTDOOR CORP | $0 | – | -11,700 | – | -2.65% | – |
| CCS | Exit | CENTURY CMNTYS INC | $0 | – | -68,648 | – | -2.65% | – |
| MCD | Exit | MCDONALDS CORP | $0 | – | -19,300 | – | -2.92% | – |
| HPP | Exit | HUDSON PAC PPTYS INC | $0 | – | -188,279 | – | -3.11% | – |
| YUM | Exit | YUM BRANDS INC | $0 | – | -40,800 | – | -3.13% | – |
| AVB | Exit | AVALONBAY CMNTYS INC | $0 | – | -24,600 | – | -3.42% | – |
| TXRH | Exit | TEXAS ROADHOUSE INC | $0 | – | -60,400 | – | -3.46% | – |
| APG | Exit | API GROUP CORP | $0 | – | -282,400 | – | -3.61% | – |
| ORLY | Exit | OREILLY AUTOMOTIVE INC | $0 | – | -9,920 | – | -3.81% | – |
| BURL | Exit | BURLINGTON STORES INC | $0 | – | -26,400 | – | -4.70% | – |
| CPRI | Exit | CAPRI HOLDINGS LIMITED | $0 | – | -160,695 | – | -4.88% | – |
| ARE | Exit | ALEXANDRIA REAL ESTATE EQ IN | $0 | – | -43,011 | – | -5.16% | – |
| ROST | Exit | ROSS STORES INC | $0 | – | -120,864 | – | -8.26% | – |
| ARMK | Exit | ARAMARK | $0 | – | -401,295 | – | -8.28% | – |
| EQR | Exit | EQUITY RESIDENTIALsh ben int | $0 | – | -168,200 | – | -8.55% | – |
| VNO | Exit | VORNADO RLTY TRsh ben int | $0 | – | -457,098 | – | -12.06% | – |
| PK | Exit | PARK HOTELS & RESORTS INC | $0 | – | -1,019,889 | – | -12.26% | – |
Q3 2021
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| PK | Buy | PARK HOTELS & RESORTS INC | $19,521,000 | +77.0% | 1,019,889 | +90.6% | 12.26% | +72.1% |
| VNO | Buy | VORNADO RLTY TRsh ben int | $19,203,000 | +22.3% | 457,098 | +35.8% | 12.06% | +18.9% |
| EQR | New | EQUITY RESIDENTIALsh ben int | $13,611,000 | – | 168,200 | – | 8.55% | – |
| ARMK | Buy | ARAMARK | $13,187,000 | +49.7% | 401,295 | +69.7% | 8.28% | +45.5% |
| ROST | Sell | ROSS STORES INC | $13,156,000 | -16.8% | 120,864 | -5.3% | 8.26% | -19.1% |
| ARE | Sell | ALEXANDRIA REAL ESTATE EQ IN | $8,218,000 | -16.8% | 43,011 | -20.8% | 5.16% | -19.1% |
| CPRI | Buy | CAPRI HOLDINGS LIMITED | $7,779,000 | +10.1% | 160,695 | +30.0% | 4.88% | +7.0% |
| BURL | New | BURLINGTON STORES INC | $7,486,000 | – | 26,400 | – | 4.70% | – |
| ORLY | Sell | OREILLY AUTOMOTIVE INC | $6,062,000 | -29.2% | 9,920 | -34.4% | 3.81% | -31.2% |
| APG | New | API GROUP CORP | $5,747,000 | – | 282,400 | – | 3.61% | – |
| TXRH | New | TEXAS ROADHOUSE INC | $5,516,000 | – | 60,400 | – | 3.46% | – |
| AVB | New | AVALONBAY CMNTYS INC | $5,452,000 | – | 24,600 | – | 3.42% | – |
| YUM | Buy | YUM BRANDS INC | $4,990,000 | +44.1% | 40,800 | +35.5% | 3.13% | +40.2% |
| HPP | Sell | HUDSON PAC PPTYS INC | $4,946,000 | -16.5% | 188,279 | -11.5% | 3.11% | -18.8% |
| MCD | New | MCDONALDS CORP | $4,653,000 | – | 19,300 | – | 2.92% | – |
| CCS | Sell | CENTURY CMNTYS INC | $4,218,000 | -23.3% | 68,648 | -16.9% | 2.65% | -25.4% |
| DECK | New | DECKERS OUTDOOR CORP | $4,214,000 | – | 11,700 | – | 2.65% | – |
| FIVE | New | FIVE BELOW INC | $4,155,000 | – | 23,500 | – | 2.61% | – |
| KRC | Sell | KILROY RLTY CORP | $3,997,000 | -19.7% | 60,370 | -15.5% | 2.51% | -21.9% |
| DHI | New | D R HORTON INC | $3,149,000 | – | 37,500 | – | 1.98% | – |
| LVS | Exit | LAS VEGAS SANDS CORP | $0 | – | -84,400 | – | -2.87% | – |
| SBUX | Exit | STARBUCKS CORP | $0 | – | -55,900 | – | -4.04% | – |
| HLT | Exit | HILTON WORLDWIDE HLDGS INC | $0 | – | -73,202 | – | -5.70% | – |
| BLDR | Exit | BUILDERS FIRSTSOURCE INC | $0 | – | -260,200 | – | -7.17% | – |
| TJX | Exit | TJX COS INC NEW | $0 | – | -182,312 | – | -7.94% | – |
| MAR | Exit | MARRIOTT INTL INC NEWcl a | $0 | – | -111,500 | – | -9.83% | – |
Q2 2021
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| ROST | New | ROSS STORES INC | $15,818,000 | – | 127,564 | – | 10.21% | – |
| VNO | New | VORNADO RLTY TRsh ben int | $15,704,000 | – | 336,500 | – | 10.14% | – |
| MAR | New | MARRIOTT INTL INC NEWcl a | $15,222,000 | – | 111,500 | – | 9.83% | – |
| TJX | New | TJX COS INC NEW | $12,291,000 | – | 182,312 | – | 7.94% | – |
| BLDR | New | BUILDERS FIRSTSOURCE INC | $11,100,000 | – | 260,200 | – | 7.17% | – |
| PK | New | PARK HOTELS & RESORTS INC | $11,030,000 | – | 535,200 | – | 7.12% | – |
| ARE | New | ALEXANDRIA REAL ESTATE EQ IN | $9,883,000 | – | 54,320 | – | 6.38% | – |
| HLT | New | HILTON WORLDWIDE HLDGS INC | $8,830,000 | – | 73,202 | – | 5.70% | – |
| ARMK | New | ARAMARK | $8,811,000 | – | 236,536 | – | 5.69% | – |
| ORLY | New | OREILLY AUTOMOTIVE INC | $8,561,000 | – | 15,120 | – | 5.53% | – |
| CPRI | New | CAPRI HOLDINGS LIMITED | $7,068,000 | – | 123,595 | – | 4.56% | – |
| SBUX | New | STARBUCKS CORP | $6,250,000 | – | 55,900 | – | 4.04% | – |
| HPP | New | HUDSON PAC PPTYS INC | $5,920,000 | – | 212,779 | – | 3.82% | – |
| CCS | New | CENTURY CMNTYS INC | $5,496,000 | – | 82,600 | – | 3.55% | – |
| KRC | New | KILROY RLTY CORP | $4,977,000 | – | 71,470 | – | 3.21% | – |
| LVS | New | LAS VEGAS SANDS CORP | $4,447,000 | – | 84,400 | – | 2.87% | – |
| YUM | New | YUM BRANDS INC | $3,462,000 | – | 30,100 | – | 2.24% | – |