13F filer · CIK 1481045 ↗
Daiwa Securities Group Inc.
You are looking at Q1 2018. See the latest, Q3 2026 →
Reported value
$12.49B
−12% on the quarter before
Positions
1,169
205 new · 46 sold out
Top 10
32.9%
of the value
Est. gain
−$631.4M
on stocks held all quarter
Est. return
−5.9%
on those stocks since Q4 2017
Positions as of Mar 31, 2018, 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 Q4 2017. Striped tiles are options.
Largest buys
Since Q4 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~$167.7MAdded · 1.7% → 3.1%+1,360,861 shares
- Park Hotels Resorts~$103.9MAdded · 0.0% → 0.8%+3,846,978 shares
- Hudson Pac Pptys~$86.0MAdded · 0.8% → 1.6%+2,644,188 shares
- Ggp~$85.2MAdded · 1.4% → 2.1%+4,162,699 shares
- Extra Space Storage~$82.0MAdded · 1.5% → 2.3%+938,851 shares
- Ddr~$74.7MAdded · 0.4% → 1.0%+10,191,668 shares
- Duke Realty~$68.5MAdded · 1.2% → 1.9%+2,585,189 shares
- National Retail Pptys~$50.3MAdded · 0.9% → 1.3%+1,281,327 shares
- Rlj Lodging~$45.5MAdded · 0.6% → 0.9%+2,339,685 shares
- Prologis~$33.8MAdded · 2.1% → 2.6%+535,822 shares
Largest sells
Since Q4 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.
- Simon Ppty Group Inc~$266.8MCut · 4.6% → 2.5%−1,728,686 shares
- Mid Amer Apt Cmntys~$249.5MCut · 2.0% → 0.0%−2,735,323 shares
- Equity Residential~$131.7MCut · 3.5% → 2.8%−2,137,971 shares
- Ventas~$121.2MCut · 1.1% → 0.0%−2,446,786 shares
- Host Hotels & Resorts~$114.3MCut · 2.6% → 1.9%−6,132,437 shares
- Gaming & Leisure Pptys~$102.1MCut · 1.1% → 0.4%−3,049,442 shares
- Equinix~$99.5MCut · 4.4% → 3.8%−238,020 shares
- Sl Green Rlty~$87.5MCut · 0.7% → 0.0%−903,262 shares
- Highwoods Pptys~$87.1MCut · 0.7% → 0.0%−1,987,006 shares
- Public~$69.9MCut · 0.6% → 0.1%−348,810 shares
Holdings
As of Mar 31, 2018. Changes are in shares against Dec 31, 2017, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Digital RealtyCOM · shares −3.4% · price −7.5% | 4.9% | $609.9M | −$49.3M | ||||||||
| Crown Castle Intl CorpCOM · shares −2.4% · price −1.3% | 3.9% | $484.6M | −$6.2M | ||||||||
| EquinixCOM PAR $0.001 · shares −17% · price −7.7% | 3.8% | $478.6M | −$40.2M | ||||||||
| UdrCOM · shares −9.6% · price −7.5% | 3.6% | $450.2M | −$36.7M | ||||||||
| Boston PropertiesCOM · shares +75% · price −5.2% | 3.1% | $391.5M | −$12.4M | ||||||||
| Kilroy RltyCOM · shares +6.3% · price −4.9% | 2.9% | $361.1M | −$17.7M | ||||||||
| Equity ResidentialSH BEN INT · shares −27% · price −3.4% | 2.8% | $348.9M | −$12.2M | ||||||||
| Healthcare Tr Amer IncCL A NEW · shares +1.4% · price −12.0% | 2.6% | $330.8M | −$44.3M | ||||||||
| PrologisCOM · shares +11% · price −2.4% | 2.6% | $329.4M | −$7.1M | ||||||||
| Essex Ppty TrCOM · shares +4.1% · price −0.3% | 2.6% | $320.6M | −$882,195 | ||||||||
| Simon Ppty Group IncCOM · shares −46% · price −10.1% | 2.5% | $317.7M | −$35.8M | ||||||||
| Sun CmntysCOM · shares −12% · price −1.5% | 2.4% | $296.9M | −$4.6M | ||||||||
| Apartment Invt & MgmtCL A · shares +2.1% · price −6.8% | 2.4% | $295.0M | −$21.0M | ||||||||
| Extra Space StorageCOM · shares +39% · price −0.1% | 2.3% | $291.2M | −$215,000 | ||||||||
| GgpCOM · shares +49% · price −12.5% | 2.1% | $258.5M | −$24.8M | ||||||||
| Duke RealtyCOM NEW · shares +42% · price −2.7% | 1.9% | $232.1M | −$4.5M | ||||||||
| Host Hotels & ResortsCOM · shares −33% · price −6.1% | 1.9% | $231.2M | −$15.0M | ||||||||
| Epr Pptys ComSH BEN INT · shares +2.3% · price −15.4% | 1.7% | $212.6M | −$37.7M | ||||||||
| Douglas EmmettCOM · shares −12% · price −10.5% | 1.7% | $207.7M | −$24.3M | ||||||||
| Sunstone Hotel Invs IncCOM · shares −6.8% · price −7.9% | 1.6% | $199.3M | −$17.2M | ||||||||
| Hudson Pac PptysCOM · shares +79% · price −5.0% | 1.6% | $195.1M | −$5.8M | ||||||||
| Cousins PptysCOM · shares −2.6% · price −6.2% | 1.6% | $194.0M | −$12.7M | ||||||||
| Regency CtrsCOM · shares −14% · price −14.7% | 1.5% | $192.0M | −$33.2M | ||||||||
| CubesmartCOM · shares −11% · price −2.5% | 1.4% | $173.4M | −$4.4M | ||||||||
| Invitation HomesCOM · shares +0.5% · price −3.1% | 1.4% | $170.1M | −$5.5M | ||||||||
| Total · 1,169 positions | 100% | $12.49B | −$631.4M |
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 Q4 2017 to Q1 2018: 884 stocks held throughout, down $631.4M (−5.9%).
- Old Dominion Fght Lines+$2.6M+12%
- Petroleo Brasileiro Sa Petro+$2.3M+32%
- Petroleo Brasileiro Sa Petro+$2.0M+37%
- Td Ameritrade Hldg+$1.9M+16%
- Itau Unibanco Hldg Sa+$1.9M+20%
- Udr−$36.7M−8%
- Epr Pptys Com−$37.7M−15%
- Equinix−$40.2M−8%
- Healthcare Tr Amer Inc−$44.3M−12%
- Digital Realty−$49.3M−7%
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 ↗ |