13F filer · CIK 1481045 ↗
Daiwa Securities Group Inc.
You are looking at Q4 2017. See the latest, Q3 2026 →
Reported value
$14.14B
−3.1% on the quarter before
Positions
1,010
73 new · 55 sold out
Top 10
34.9%
of the value
Est. gain
+$281.6M
on stocks held all quarter
Est. return
+2.5%
on those stocks since Q3 2017
Positions as of Dec 31, 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, 59% of the reported value, each sized by its share, colored by what the fund did with it since Q3 2017. Striped tiles are options.
Largest buys
Since Q3 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.
- Boston Properties~$232.5MAdded · 0.0% → 1.7%+1,788,312 shares
- Mid Amer Apt Cmntys~$197.2MAdded · 0.6% → 2.0%+1,961,027 shares
- Invitation Homes~$174.5MAdded · 0.0% → 1.2%+7,405,002 shares
- Kilroy Rlty~$163.6MAdded · 1.3% → 2.5%+2,190,960 shares
- Hudson Pac Pptys~$114.3MAdded · 0.0% → 0.8%+3,337,984 shares
- Omega Healthcare Invs~$80.1MAdded · 0.0% → 0.6%+2,909,745 shares
- Rlj Lodging~$68.8MAdded · 0.1% → 0.6%+3,129,810 shares
- Host Hotels & Resorts~$62.4MAdded · 1.9% → 2.6%+3,145,197 shares
- Ddr~$60.0MAdded · 0.0% → 0.4%+6,694,673 shares
- Lamar Advertising Co~$54.2MAdded · 0.6% → 1.1%+730,220 shares
Largest sells
Since Q3 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.
- Vornado Rlty~$300.8MCut · 2.0% → 0.0%−3,847,309 shares
- Hcp~$241.2MCut · 2.3% → 0.6%−9,247,006 shares
- Avalonbay Cmntys~$219.6MCut · 1.5% → 0.0%−1,230,741 shares
- Sl Green Rlty~$200.0MCut · 2.0% → 0.7%−1,981,223 shares
- Simon Ppty Group Inc~$175.1MCut · 5.3% → 4.6%−1,019,351 shares
- Ventas~$164.0MCut · 2.3% → 1.1%−2,732,326 shares
- Starwood Waypoint~$127.1MSold out · 0.9% → 0.0%−3,495,660 shares
- Crown Castle Intl Corp~$92.0MCut · 3.7% → 3.6%−828,845 shares
- Highwoods Pptys~$84.9MCut · 1.3% → 0.7%−1,668,011 shares
- Federal Realty Invt Tr~$78.5MCut · 1.8% → 1.4%−590,803 shares
Holdings
As of Dec 31, 2017. Changes are in shares against Sep 30, 2017, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Digital RealtyCOM · shares −7.5% · price −3.7% | 4.8% | $682.3M | −$26.5M | ||||||||
| Simon Ppty Group IncCOM · shares −21% · price +6.7% | 4.6% | $650.4M | +$40.6M | ||||||||
| EquinixPAR $0.001 · shares +7.2% · price +1.6% | 4.4% | $626.6M | +$8.9M | ||||||||
| UdrCOM · shares −2.5% · price +1.3% | 3.8% | $538.7M | +$6.9M | ||||||||
| Crown Castle Intl CorpCOM · shares −15% · price +11.0% | 3.6% | $502.8M | +$50.0M | ||||||||
| Equity ResidentialSH BEN INT · shares +1.0% · price −3.3% | 3.5% | $497.5M | −$16.7M | ||||||||
| Healthcare Tr Amer IncCL A NEW · shares +4.0% · price +0.8% | 2.6% | $370.4M | +$2.8M | ||||||||
| Host Hotels & ResortsCOM · shares +20% · price +7.4% | 2.6% | $367.9M | +$20.9M | ||||||||
| Kilroy RltyCOM · shares +84% · price +5.0% | 2.5% | $357.5M | +$9.2M | ||||||||
| Sun CmntysCOM · shares +1.7% · price +8.3% | 2.4% | $342.8M | +$25.8M | ||||||||
| Apartment Invt & MgmtCL A · shares +17% · price −0.3% | 2.2% | $309.8M | −$911,414 | ||||||||
| Essex Ppty TrCOM · shares −9.5% · price −5.0% | 2.2% | $308.9M | −$16.2M | ||||||||
| PrologisCOM · shares −10% · price +1.7% | 2.1% | $302.8M | +$4.9M | ||||||||
| Mid Amer Apt CmntysCOM · shares +246% · price −5.9% | 2.0% | $277.4M | −$5.0M | ||||||||
| Douglas EmmettCOM · shares −0.2% · price +4.2% | 1.9% | $263.2M | +$10.5M | ||||||||
| Regency CtrsCOM · shares −20% · price +11.5% | 1.9% | $261.8M | +$27.0M | ||||||||
| Epr Pptys ComSH BEN INT · shares +8.3% · price −6.1% | 1.7% | $245.5M | −$14.8M | ||||||||
| Boston PropertiesCOM · shares +6,462% · price +5.8% | 1.7% | $236.1M | +$197,712 | ||||||||
| Sunstone Hotel Invs IncCOM · shares +5.7% · price +2.9% | 1.6% | $232.2M | +$6.1M | ||||||||
| Cousins PptysCOM · shares +4.9% · price −1.0% | 1.5% | $212.4M | −$2.0M | ||||||||
| Extra Space StorageCOM · shares −10% · price +9.4% | 1.5% | $209.4M | +$18.0M | ||||||||
| Federal Realty Invt TrSH BEN INT NEW · shares −28% · price +6.9% | 1.4% | $201.8M | +$13.1M | ||||||||
| CubesmartCOM · shares −2.6% · price +11.4% | 1.4% | $199.9M | +$20.5M | ||||||||
| GgpCOM · shares +27% · price +12.6% | 1.4% | $198.1M | +$17.5M | ||||||||
| Equity Lifestyle PptysCOM · shares −9.9% · price +4.6% | 1.3% | $177.0M | +$7.8M | ||||||||
| Total · 1,010 positions | 100% | $14.14B | +$281.6M |
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 Q3 2017 to Q4 2017: 922 stocks held throughout, up $281.6M (+2.5%).
- Crown Castle Intl Corp+$50.0M+11%
- Simon Ppty Group Inc+$40.6M+7%
- Regency Ctrs+$27.0M+12%
- Sun Cmntys+$25.8M+8%
- Host Hotels & Resorts+$20.9M+7%
- Geo Group Inc−$14.2M−12%
- Epr Pptys Com−$14.8M−6%
- Essex Ppty Tr−$16.2M−5%
- Equity Residential−$16.7M−3%
- Digital Realty−$26.5M−4%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out, 1 split read into the share counts.
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 ↗ |