13F filer · CIK 1481045 ↗
Daiwa Securities Group Inc.
You are looking at Q1 2023. See the latest, Q3 2026 →
Reported value
$14.38B
+10% on the quarter before
Positions
1,315
37 new · 40 sold out
Top 10
37.2%
of the value
Est. gain
+$291.4M
on stocks held all quarter
Est. return
+2.7%
on those stocks since Q4 2022
Positions as of Mar 31, 2023, 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 2022. Striped tiles are options.
Largest buys
Since Q4 2022, 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.
- Palo Alto Networks~$105.9MAdded · 0.2% → 1.0%+52,500,000 shares
- Vici Pptys~$78.1MAdded · 0.5% → 1.0%+2,392,818 shares
- Digital Realty~$70.3MAdded · 4.1% → 4.2%+715,291 shares
- Simon Ppty Group Inc~$68.4MAdded · 3.5% → 3.5%+611,260 shares
- Invitation Homes~$60.6MAdded · 3.7% → 3.9%+1,942,035 shares
- Meta~$53.4MAdded · 0.5% → 1.2%+252,031 shares
- Ishares Tr~$49.7MAdded · 0.2% → 0.5%+120,836 shares
- Rexford Indl Rlty~$44.1MAdded · 1.1% → 1.4%+738,974 shares
- Healthcare Rlty Tr Cl~$38.6MAdded · 1.7% → 1.8%+1,995,757 shares
- Apple~$37.0MAdded · 1.8% → 2.4%+224,546 shares
Largest sells
Since Q4 2022, 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.
- Lamar Advertising Co~$79.8MCut · 0.8% → 0.2%−798,937 shares
- Public~$65.4MCut · 3.3% → 2.8%−216,291 shares
- Healthpeak Properties~$47.2MCut · 0.5% → 0.0%−2,149,683 shares
- Sun Cmntys~$45.9MCut · 2.2% → 1.7%−325,566 shares
- Kimco Rlty~$32.7MCut · 1.6% → 1.1%−1,673,239 shares
- Welltower~$24.4MCut · 5.1% → 4.9%−340,321 shares
- Global X Fds Artificia~$23.4MCut · 0.2% → 0.1%−950,000 shares
- Invesco Qqq Tr~$17.2MCut · 0.3% → 0.2%−53,492 shares
- SPDR S&P 500 ETF~$15.6MCut · 0.3% → 0.2%−38,083 shares
- Nextera Energy Inc~$15.2MSold out · 0.1% → 0.0%−300,000 shares
Holdings
As of Mar 31, 2023. Changes are in shares against Dec 31, 2022, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| PrologisCOM · shares +0.2% · price +10.7% | 5.4% | $780.3M | +$75.1M | ||||||||
| WelltowerCOM · shares −3.3% · price +9.4% | 4.9% | $707.5M | +$60.6M | ||||||||
| Digital RealtyCOM · shares +13% · price −2.0% | 4.2% | $599.7M | −$10.6M | ||||||||
| Realty IncomeCOM · shares +1.7% · price −0.2% | 4.0% | $576.4M | −$984,181 | ||||||||
| Invitation HomesCOM · shares +12% · price +5.4% | 3.9% | $566.3M | +$25.7M | ||||||||
| Simon Ppty Group IncCOM · shares +16% · price −4.7% | 3.5% | $499.9M | −$21.2M | ||||||||
| Global X FdsCONSCIOUS COS · shares +5.4% · price +6.5% | 3.4% | $488.6M | +$28.3M | ||||||||
| PublicCOM · shares −14% · price +7.8% | 2.8% | $399.8M | +$29.0M | ||||||||
| EquinixCOM · shares +0.9% · price +10.1% | 2.7% | $382.1M | +$34.7M | ||||||||
| Mid-Amer Apt CmntysCOM · shares +6.5% · price −3.8% | 2.4% | $350.2M | −$13.0M | ||||||||
| AppleCOM · shares +12% · price +26.9% | 2.4% | $339.1M | — | ||||||||
| MicrosoftCOM · shares +12% · price +20.2% | 2.2% | $315.6M | — | ||||||||
| UdrCOM · shares +8.4% · price +6.0% | 1.9% | $271.4M | +$14.2M | ||||||||
| Extra Space StorageCOM · shares +11% · price +10.7% | 1.8% | $261.9M | +$22.8M | ||||||||
| Healthcare Rlty Tr ClCOM · shares +17% · price +0.3% | 1.8% | $261.8M | +$693,043 | ||||||||
| Camden PptyTR SH BEN INT · shares +17% · price −6.3% | 1.8% | $256.4M | −$14.8M | ||||||||
| Americold Realty TrustCOM · shares +2.0% · price +0.5% | 1.7% | $238.6M | +$1.2M | ||||||||
| Sun CmntysCOM · shares −16% · price −1.5% | 1.7% | $237.6M | −$3.6M | ||||||||
| Rexford Indl RltyCOM · shares +29% · price +9.2% | 1.4% | $196.7M | +$12.8M | ||||||||
| MetaCL A · shares +45% · price +76.1% | 1.2% | $171.9M | — | ||||||||
| TeslaCOM · shares +24% · price +68.4% | 1.2% | $167.1M | — | ||||||||
| AmazonCOM · shares +3.6% · price +23.0% | 1.2% | $166.4M | — | ||||||||
| Kimco RltyCOM · shares −17% · price −7.8% | 1.1% | $164.5M | −$13.9M | ||||||||
| Host Hotels & ResortsCOM · shares +1.4% · price +2.7% | 1.1% | $153.4M | +$4.0M | ||||||||
| Palo Alto NetworksNOTE 0.375% 6/0 · shares +300% · price +36.5% | 0.98% | $141.3M | — | ||||||||
| Total · 1,315 positions | 100% | $14.38B | +$291.4M |
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 2022 to Q1 2023: 1,180 stocks held throughout, up $291.4M (+2.7%).
- Prologis+$75.1M+11%
- Welltower+$60.6M+9%
- Equinix+$34.7M+10%
- Public+$29.0M+8%
- Global X Fds+$28.3M+7%
- Mid-Amer Apt Cmntys−$13.0M−4%
- Kimco Rlty−$13.9M−8%
- Camden Ppty−$14.8M−6%
- Cousins Pptys−$18.5M−15%
- Simon Ppty Group Inc−$21.2M−5%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out, 2 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 ↗ |