13F filer · CIK 1481045 ↗
Daiwa Securities Group Inc.
You are looking at Q1 2019. See the latest, Q3 2026 →
Reported value
$11.45B
+9.8% on the quarter before
Positions
1,181
89 new · 51 sold out
Top 10
38.5%
of the value
Est. gain
+$1.27B
on stocks held all quarter
Est. return
+15.6%
on those stocks since Q4 2018
Positions as of Mar 31, 2019, 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, 61% of the reported value, each sized by its share, colored by what the fund did with it since Q4 2018. Striped tiles are options.
Largest buys
Since Q4 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.
- Public~$260.1MAdded · 1.2% → 3.5%+1,194,522 shares
- Apartment Invt & Mgmt~$202.8MNew · 0.0% → 1.8%+4,032,068 shares
- Equinix~$113.7MAdded · 3.6% → 5.2%+250,921 shares
- Extra Space Storage~$67.0MAdded · 2.4% → 3.0%+657,927 shares
- Invitation Homes~$52.9MAdded · 2.2% → 2.8%+2,174,523 shares
- Pebblebrook Hotel~$41.3MAdded · 1.3% → 1.7%+1,330,005 shares
- Realty Income~$39.7MAdded · 0.9% → 1.4%+539,094 shares
- Welltower~$34.6MAdded · 4.5% → 4.9%+446,202 shares
- Vereit~$34.3MAdded · 1.6% → 2.0%+4,096,125 shares
- American Homes 4~$31.2MAdded · 0.4% → 0.7%+1,373,207 shares
Largest sells
Since Q4 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.
- Apartment Invt & Mgmt~$222.7MSold out · 2.1% → 0.0%−5,076,142 shares
- Vornado Rlty Tr~$172.9MCut · 1.5% → 0.0%−2,563,726 shares
- Crown Castle Intl Corp~$131.5MCut · 1.3% → 0.2%−1,027,544 shares
- Sba Communications Corp~$106.5MCut · 1.2% → 0.4%−533,214 shares
- Hcp~$103.6MCut · 2.1% → 1.3%−3,308,905 shares
- Ventas~$102.6MCut · 0.9% → 0.0%−1,608,193 shares
- Rlj Lodging~$83.2MCut · 1.0% → 0.3%−4,734,089 shares
- Sunstone Hotel Invs Inc~$82.0MCut · 0.9% → 0.2%−5,695,464 shares
- Life Storage~$55.8MCut · 1.5% → 0.9%−573,258 shares
- American Tower~$45.7MCut · 1.4% → 1.2%−232,049 shares
Holdings
As of Mar 31, 2019. Changes are in shares against Dec 31, 2018, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| EquinixCOM · shares +24% · price +28.5% | 5.2% | $595.7M | +$107.0M | ||||||||
| UdrCOM · shares +0.07% · price +14.7% | 5.0% | $574.4M | +$73.7M | ||||||||
| WelltowerCOM · shares +6.6% · price +11.8% | 4.9% | $557.5M | +$55.2M | ||||||||
| Essex Ppty TrCOM · shares +0.4% · price +18.0% | 4.5% | $517.7M | +$78.5M | ||||||||
| PrologisCOM · shares +1.5% · price +22.5% | 4.4% | $507.3M | +$91.9M | ||||||||
| PublicCOM · shares +191% · price +7.6% | 3.5% | $396.6M | +$9.6M | ||||||||
| Extra Space StorageCOM · shares +24% · price +12.6% | 3.0% | $345.1M | +$31.2M | ||||||||
| Invitation HomesCOM · shares +19% · price +21.2% | 2.8% | $324.8M | +$47.5M | ||||||||
| Sun CmntysCOM · shares +3.5% · price +16.5% | 2.6% | $300.2M | +$41.2M | ||||||||
| Digital RealtyCOM · shares −11% · price +11.7% | 2.5% | $289.3M | +$30.3M | ||||||||
| Kilroy RltyCOM · shares +6.5% · price +20.8% | 2.3% | $267.5M | +$43.3M | ||||||||
| VereitCOM · shares +18% · price +17.1% | 2.0% | $229.0M | +$28.4M | ||||||||
| Vici PptysCOM · shares +7.8% · price +16.5% | 1.8% | $206.0M | +$27.1M | ||||||||
| Apartment Invt & MgmtCL A · shares New | 1.8% | $202.8M | — | ||||||||
| Pebblebrook HotelCOM · shares +27% · price +9.7% | 1.7% | $193.4M | +$13.5M | ||||||||
| Regency CtrsCOM · shares −17% · price +15.0% | 1.6% | $188.3M | +$24.6M | ||||||||
| Hudson Pac PptysCOM · shares +2.0% · price +18.4% | 1.6% | $177.8M | +$27.1M | ||||||||
| National Retail PptysCOM · shares +6.5% · price +14.2% | 1.5% | $176.3M | +$20.6M | ||||||||
| Site CentersCOM · shares −1.7% · price +23.0% | 1.5% | $167.3M | +$31.3M | ||||||||
| Boston PropertiesCOM · shares −11% · price +19.0% | 1.5% | $167.1M | +$26.6M | ||||||||
| Douglas EmmettCOM · shares −2.1% · price +18.4% | 1.4% | $165.0M | +$25.7M | ||||||||
| Simon Ppty Group IncCOM · shares −14% · price +8.5% | 1.4% | $161.5M | +$12.6M | ||||||||
| Realty IncomeCOM · shares +34% · price +16.7% | 1.4% | $154.8M | +$16.5M | ||||||||
| HcpCOM · shares −41% · price +12.1% | 1.3% | $146.7M | +$15.8M | ||||||||
| CyrusoneCOM · shares +9.0% · price −0.8% | 1.3% | $145.1M | −$1.1M | ||||||||
| Total · 1,181 positions | 100% | $11.45B | +$1.27B |
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 2018 to Q1 2019: 1,030 stocks held throughout, up $1.27B (+15.6%).
- Equinix+$107.0M+29%
- Prologis+$91.9M+23%
- Essex Ppty Tr+$78.5M+18%
- Udr+$73.7M+15%
- Welltower+$55.2M+12%
- Cvs Health−$779,150−18%
- Banco Bradesco S A−$794,909−8%
- Berkley W R−$803,951−24%
- Cyrusone−$1.1M−1%
- Dowdupont−$2.2M−33%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out, 3 splits 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 ↗ |