13F filer · CIK 1481045 ↗
Daiwa Securities Group Inc.
You are looking at Q4 2018. See the latest, Q3 2026 →
Reported value
$10.42B
−13% on the quarter before
Positions
1,143
87 new · 108 sold out
Top 10
32.8%
of the value
Est. gain
−$684.3M
on stocks held all quarter
Est. return
−7.9%
on those stocks since Q3 2018
Positions as of Dec 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, 55% of the reported value, each sized by its share, colored by what the fund did with it since Q3 2018. Striped tiles are options.
Largest buys
Since Q3 2018, 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.
- Site Centers~$138.4MNew · 0.0% → 1.3%+12,499,953 shares
- American Tower~$129.8MAdded · 0.1% → 1.4%+820,229 shares
- Iron Mountain~$125.2MAdded · 0.0% → 1.2%+3,862,815 shares
- Sba Communications Corp~$122.8MAdded · 0.0% → 1.2%+758,748 shares
- Public~$112.3MAdded · 0.1% → 1.2%+555,054 shares
- Gaming & Leisure Pptys~$100.0MAdded · 0.0% → 1.0%+3,093,782 shares
- Realty Income~$95.3MAdded · 0.0% → 0.9%+1,511,184 shares
- Ventas~$94.3MAdded · 0.0% → 0.9%+1,608,943 shares
- Prologis~$87.8MAdded · 3.1% → 3.9%+1,496,078 shares
- Vornado Rlty Tr Sh~$85.4MAdded · 0.7% → 1.5%+1,376,418 shares
Largest sells
Since Q3 2018, 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.
- Crown Castle Intl Corp~$209.0MCut · 2.9% → 1.3%−1,923,856 shares
- Simon Ppty Group Inc~$172.7MCut · 3.1% → 1.7%−1,027,843 shares
- Healthcare Tr Amer Inc~$166.6MCut · 1.6% → 0.1%−6,582,978 shares
- Omega Healthcare Invs~$162.4MCut · 1.3% → 0.0%−4,622,258 shares
- Digital Realty~$157.1MCut · 4.0% → 2.8%−1,474,670 shares
- Epr Pptys Com~$134.4MCut · 1.2% → 0.0%−2,099,027 shares
- Apartment Invt & Mgmt~$105.1MCut · 2.8% → 2.1%−2,395,293 shares
- Cubesmart~$89.9MCut · 0.9% → 0.2%−3,131,782 shares
- Yahoo Inc~$78.8MSold out · 0.7% → 0.0%−62,001,000 shares
- Ciena~$77.5MSold out · 0.6% → 0.0%−49,960,000 shares
Holdings
As of Dec 31, 2018. Changes are in shares against Sep 30, 2018, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| UdrCOM · shares −1.6% · price −2.0% | 4.8% | $500.2M | −$10.2M | ||||||||
| WelltowerCOM · shares +7.5% · price +7.9% | 4.5% | $467.7M | +$31.9M | ||||||||
| Essex Ppty TrCOM · shares −15% · price −0.6% | 4.2% | $437.1M | −$2.7M | ||||||||
| PrologisCOM · shares +27% · price −13.4% | 3.9% | $408.1M | −$49.5M | ||||||||
| EquinixCOM PAR $0.001 · shares +7.9% · price −18.6% | 3.6% | $375.0M | −$79.1M | ||||||||
| Digital RealtyCOM · shares −35% · price −5.3% | 2.8% | $290.5M | −$16.2M | ||||||||
| Sun CmntysCOM · shares −11% · price +0.2% | 2.4% | $249.0M | +$416,755 | ||||||||
| Extra Space StorageCOM · shares +6.4% · price +4.4% | 2.4% | $246.9M | +$9.8M | ||||||||
| Invitation HomesCOM · shares +11% · price −12.4% | 2.2% | $224.4M | −$28.6M | ||||||||
| HcpCOM · shares −11% · price +6.1% | 2.1% | $223.3M | +$12.9M | ||||||||
| Apartment Invt & MgmtCL A · shares −32% · price −0.6% | 2.1% | $222.7M | −$1.3M | ||||||||
| Kilroy RltyCOM · shares +0.7% · price −12.3% | 2.0% | $208.0M | −$28.9M | ||||||||
| Regency CtrsCOM · shares −22% · price −9.3% | 1.9% | $196.7M | −$20.1M | ||||||||
| Simon Ppty Group IncCOM · shares −50% · price −5.0% | 1.7% | $173.5M | −$9.0M | ||||||||
| VereitCOM · shares +18% · price −1.5% | 1.6% | $166.3M | −$2.2M | ||||||||
| Vici PptysCOM · shares +20% · price −13.1% | 1.6% | $164.0M | −$20.7M | ||||||||
| Vornado Rlty Tr ShBEN INT · shares +112% · price −15.0% | 1.5% | $161.5M | −$13.5M | ||||||||
| Boston PropertiesCOM · shares −30% · price −8.6% | 1.5% | $157.6M | −$14.8M | ||||||||
| Life StorageCOM · shares +15% · price −2.3% | 1.5% | $155.5M | −$3.2M | ||||||||
| Hudson Pac PptysCOM · shares +0.4% · price −11.2% | 1.4% | $147.1M | −$18.5M | ||||||||
| National Retail PptysCOM · shares −27% · price +8.2% | 1.4% | $145.0M | +$11.0M | ||||||||
| American TowerCOM · shares +1,022% · price +8.9% | 1.4% | $142.4M | +$1.0M | ||||||||
| Douglas EmmettCOM · shares +11% · price −9.5% | 1.4% | $142.3M | −$13.5M | ||||||||
| Pebblebrook HotelCOM · shares +3.4% · price −22.2% | 1.3% | $138.6M | −$38.2M | ||||||||
| Site CentersCOM · shares New | 1.3% | $138.4M | — | ||||||||
| Total · 1,143 positions | 100% | $10.42B | −$684.3M |
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 2018 to Q4 2018: 990 stocks held throughout, down $684.3M (−7.9%).
- Welltower+$31.9M+8%
- Hcp+$12.9M+6%
- National Retail Pptys+$11.0M+8%
- Extra Space Storage+$9.8M+4%
- Banco Bradesco S A Sp ADR+$2.9M+40%
- Park Hotels Resorts−$29.8M−21%
- Rlj Lodging−$34.8M−26%
- Pebblebrook Hotel−$38.2M−22%
- Prologis−$49.5M−13%
- Equinix−$79.1M−19%
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 ↗ |