13F filer · CIK 1481045 ↗
Daiwa Securities Group Inc.
You are looking at Q3 2017. See the latest, Q3 2026 →
Reported value
$14.60B
−5.6% on the quarter before
Positions
992
61 new · 69 sold out
Top 10
34.9%
of the value
Est. gain
−$29.4M
on stocks held all quarter
Est. return
−0.2%
on those stocks since Q2 2017
Positions as of Sep 30, 2017, from Daiwa Securities Group Inc.'s 13F filing with the SEC. A 13F lists a manager's US-listed stocks and options at a quarter end and is filed up to 45 days later, so the fund may hold something else today. It leaves out short positions, cash and holdings outside the US.
Portfolio at a glance
- New
- Added
- Cut
- Same
- Options
The 24 largest positions, 60% of the reported value, each sized by its share, colored by what the fund did with it since Q2 2017. Striped tiles are options.
Largest buys
Since Q2 2017, by estimated size: the change in shares at the quarter-end price, since a 13F gives no trade prices. Percentages are the position's share of the portfolio, before and after.
- Equity Residential~$271.1MAdded · 1.5% → 3.5%+4,112,438 shares
- Digital Realty~$224.5MAdded · 3.3% → 5.2%+1,897,642 shares
- Cubesmart~$183.8MAdded · 0.0% → 1.3%+7,078,292 shares
- Gaming & Leisure Pptys~$171.3MAdded · 0.0% → 1.2%+4,642,536 shares
- Crown Castle Intl Corp~$162.1MAdded · 2.4% → 3.7%+1,620,886 shares
- Ggp~$136.6MAdded · 0.0% → 0.9%+6,575,415 shares
- Starwood Waypoint~$127.1MNew · 0.0% → 0.9%+3,495,660 shares
- Apartment Invt & Mgmt~$125.8MAdded · 0.9% → 1.8%+2,867,574 shares
- Mid Amer Apt Cmntys~$83.1MAdded · 0.0% → 0.6%+777,081 shares
- Epr Pptys Com~$49.1MAdded · 1.3% → 1.7%+703,948 shares
Largest sells
Since Q2 2017, by estimated size: the change in shares at the quarter-end price, since a 13F gives no trade prices. Percentages are the position's share of the portfolio, before and after.
- Avalonbay Cmntys~$271.3MCut · 3.4% → 1.5%−1,520,731 shares
- Essex Ppty Tr~$212.9MCut · 3.7% → 2.5%−838,175 shares
- Hudson Pac Pptys~$161.2MCut · 1.1% → 0.0%−4,808,218 shares
- Dupont Fabros Technology~$149.1MSold out · 1.0% → 0.0%−2,437,272 shares
- Kilroy Rlty~$148.0MCut · 2.3% → 1.3%−2,080,394 shares
- Brixmor Ppty Group~$139.7MCut · 1.3% → 0.5%−7,430,330 shares
- Extra Space Storage~$132.4MCut · 2.2% → 1.5%−1,656,630 shares
- Equinix~$130.8MCut · 4.4% → 3.9%−293,183 shares
- Alexandria Real Estate Eq~$130.4MCut · 0.9% → 0.0%−1,095,743 shares
- Colony Starwood~$122.7MSold out · 0.8% → 0.0%−3,577,356 shares
Holdings
As of Sep 30, 2017. Changes are in shares against Jun 30, 2017, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Simon Ppty Group IncCOM · shares −9.5% · price −0.5% | 5.3% | $773.9M | −$3.6M | ||||||||
| Digital RealtyCOM · shares +41% · price +4.8% | 5.2% | $766.1M | +$24.6M | ||||||||
| EquinixPAR $0.001 · shares −19% · price +4.0% | 3.9% | $575.5M | +$22.1M | ||||||||
| UdrCOM · shares −10% · price −2.4% | 3.7% | $545.4M | −$13.5M | ||||||||
| Crown Castle Intl CorpCOM · shares +43% · price −0.2% | 3.7% | $535.7M | −$747,898 | ||||||||
| Equity ResidentialSH BEN INT · shares +114% · price +0.2% | 3.5% | $509.3M | +$361,021 | ||||||||
| Essex Ppty TrCOM · shares −37% · price −1.3% | 2.5% | $359.4M | −$4.6M | ||||||||
| Healthcare Tr Amer IncCL A NEW · shares +14% · price −4.2% | 2.4% | $353.4M | −$13.6M | ||||||||
| VentasCOM · shares +7.3% · price −6.3% | 2.3% | $341.8M | −$21.3M | ||||||||
| HcpCOM · shares +15% · price −12.9% | 2.3% | $340.7M | −$43.8M | ||||||||
| PrologisCOM · shares −26% · price +8.2% | 2.3% | $331.5M | +$25.2M | ||||||||
| Sun CmntysCOM · shares −6.9% · price −2.3% | 2.1% | $311.3M | −$7.3M | ||||||||
| Vornado Rlty TrSH BEN INT · shares −6.1% · price −18.1% | 2.0% | $298.1M | −$66.0M | ||||||||
| Regency CtrsCOM · shares −11% · price −1.0% | 2.0% | $294.4M | −$2.8M | ||||||||
| Sl Green RltyCOM · shares −20% · price −4.2% | 2.0% | $294.2M | −$13.0M | ||||||||
| Host Hotels & ResortsCOM · shares −29% · price +1.2% | 1.9% | $284.6M | +$3.4M | ||||||||
| Apartment Invt & MgmtCL A · shares +89% · price +2.1% | 1.8% | $266.4M | +$2.9M | ||||||||
| Federal Realty InvtTR SH BEN INT NEW · shares −4.1% · price −1.7% | 1.8% | $262.1M | −$4.6M | ||||||||
| Douglas EmmettCOM · shares +4.0% · price +3.2% | 1.7% | $253.3M | +$7.5M | ||||||||
| Epr Pptys ComSH BEN INT · shares +26% · price −3.0% | 1.7% | $241.4M | −$5.9M | ||||||||
| Avalonbay CmntysCOM · shares −55% · price −7.2% | 1.5% | $223.6M | −$17.2M | ||||||||
| Sunstone Hotel Invs IncCOM · shares −9.7% · price −0.3% | 1.5% | $213.6M | −$664,832 | ||||||||
| Extra Space StorageCOM · shares −38% · price +2.5% | 1.5% | $212.6M | +$5.1M | ||||||||
| American Campus CmntysCOM · shares −1.2% · price −6.7% | 1.4% | $209.3M | −$14.9M | ||||||||
| Cousins PptysCOM · shares −9.7% · price +6.3% | 1.4% | $204.5M | +$12.0M | ||||||||
| Total · 992 positions | 100% | $14.60B | −$29.4M |
Price is a stock's reported value over its shares at the quarter end. The estimated gain is the shares held at both quarter ends times the change in that price: shares bought or sold during the quarter add nothing, options are left out, and a stock split is read into the earlier share count and price.
What made money
From Q2 2017 to Q3 2017: 920 stocks held throughout, down $29.4M (−0.2%).
- Prologis+$25.2M+8%
- Digital Realty+$24.6M+5%
- Equinix+$22.1M+4%
- Pebblebrook Hotel+$14.7M+12%
- Cousins Pptys+$12.0M+6%
- American Campus Cmntys−$14.9M−7%
- Avalonbay Cmntys−$17.2M−7%
- Ventas−$21.3M−6%
- Hcp−$43.8M−13%
- Vornado Rlty Tr−$66.0M−18%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out.
Reported value by quarter
The total value of each quarter's 13F at that quarter end. It moves with prices as well as with buying and selling. Pick a quarter to see what the fund held then.
Every quarter's filing
| Quarter | Reported value | Filing | |
|---|---|---|---|
| Q3 2026 | Oct 29, 2026 | $53.60B+5% | SEC ↗ |
| Q2 2026 | Jul 31, 2026 | $51.14B+47% | SEC ↗ |
| Q1 2026 | May 13, 2026 | $34.78B+11% | SEC ↗ |
| Q4 2025 | Feb 11, 2026 | $31.30B+6% | SEC ↗ |
| Q3 2025 | Nov 14, 2025 | $29.63B+9% | SEC ↗ |
| Q2 2025 | Aug 14, 2025 | $27.09B+15% | SEC ↗ |
| Q1 2025 | May 13, 2025 | $23.65B+6% | SEC ↗ |
| Q4 2024 | Feb 7, 2025 | $22.39B+3% | SEC ↗ |
| Q3 2024 | Nov 12, 2024 | $21.65B+15% | SEC ↗ |
| Q2 2024 | Aug 7, 2024 | $18.80B+6% | SEC ↗ |
| Q1 2024 | May 2, 2024 | $17.72B+10% | SEC ↗ |
| Q4 2023 | Jan 31, 2024 | $16.08B+15% | SEC ↗ |
| Q3 2023 | Nov 1, 2023 | $14.04B−7% | SEC ↗ |
| Q2 2023 | Jul 31, 2023 | $15.12B+5% | SEC ↗ |
| Q1 2023 | May 2, 2023 | $14.38B+10% | SEC ↗ |
| Q4 2022 | Feb 6, 2023 | $13.02B+8% | SEC ↗ |
| Q3 2022 | Nov 2, 2022 | $12.04B−8% | SEC ↗ |
| Q2 2022 | Aug 9, 2022 | $13.09B−18% | SEC ↗ |
| Q1 2022 | Apr 29, 2022 | $15.95B−6% | SEC ↗ |
| Q4 2021 | Feb 3, 2022 | $17.00B+12% | SEC ↗ |
| Q3 2021 | Nov 5, 2021 | $15.21B+2% | SEC ↗ |
| Q2 2021 | Aug 6, 2021 | $14.85B+10% | SEC ↗ |
| Q1 2021 | May 3, 2021 | $13.44B+4% | SEC ↗ |
| Q4 2020 | Feb 4, 2021 | $12.94B+17% | SEC ↗ |
| Q3 2020 | Nov 2, 2020 | $11.04B+133% | SEC ↗ |
| Q2 2020 | Aug 11, 2020 | $4.74B−51% | SEC ↗ |
| Q1 2020 | May 14, 2020 | $9.64B−20% | SEC ↗ |
| Q4 2019 | Jan 31, 2020 | $12.12B+3% | SEC ↗ |
| Q3 2019 | Nov 4, 2019 | $11.80B+4% | SEC ↗ |
| Q2 2019 | Jul 24, 2019 | $11.32B−1% | SEC ↗ |
| Q1 2019 | Apr 26, 2019 | $11.45B+10% | SEC ↗ |
| Q4 2018 | Feb 5, 2019 | $10.42B−13% | SEC ↗ |
| Q3 2018 | Nov 1, 2018 | $11.94B−6% | SEC ↗ |
| Q2 2018 | Jul 30, 2018 | $12.70B+2% | SEC ↗ |
| Q1 2018 | May 2, 2018 | $12.49B−12% | SEC ↗ |
| Q4 2017 | Feb 6, 2018 | $14.14B−3% | SEC ↗ |
| Q3 2017 | Nov 2, 2017 | $14.60B−6% | SEC ↗ |
| Q2 2017 | Jul 28, 2017 | $15.47B−3% | SEC ↗ |
| Q1 2017 | May 2, 2017 | $15.91B+2% | SEC ↗ |
| Q4 2016 | Feb 1, 2017 | $15.59B−7% | SEC ↗ |
| Q3 2016 | Jan 10, 2017 (amended) | $16.75B+0% | SEC ↗ |
| Q2 2016 | Jul 25, 2016 | $16.73B+6% | SEC ↗ |
| Q1 2016 | May 12, 2016 | $15.83B | SEC ↗ |