13F filer · CIK 1481045 ↗
Daiwa Securities Group Inc.
You are looking at Q2 2025. See the latest, Q3 2026 →
Reported value
$27.09B
+15% on the quarter before
Positions
1,301
83 new · 61 sold out
Top 10
34.7%
of the value
Est. gain
+$2.39B
on stocks held all quarter
Est. return
+10.6%
on those stocks since Q1 2025
Positions as of Jun 30, 2025, 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 Q1 2025. Striped tiles are options.
Largest buys
Since Q1 2025, 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.
- Apple~$164.7MAdded · 4.5% → 4.3%+802,567 shares
- Sba Communications Corp New~$114.1MAdded · 0.0% → 0.5%+485,656 shares
- Essex Ppty Tr Inc~$97.6MAdded · 0.9% → 1.1%+344,287 shares
- Mid-Amer Apt Cmntys Inc~$87.8MAdded · 0.1% → 0.4%+593,020 shares
- Amazon~$82.2MAdded · 3.2% → 3.5%+374,483 shares
- Alphabet~$81.7MAdded · 2.3% → 2.6%+463,733 shares
- Kilroy Rlty Corp~$76.7MAdded · 0.2% → 0.5%+2,236,539 shares
- Invesco Qqq Tr~$63.6MAdded · 0.4% → 0.6%+115,364 shares
- Nvidia~$58.7MAdded · 3.8% → 5.0%+371,581 shares
- Microsoft~$54.3MAdded · 4.1% → 4.9%+109,249 shares
Largest sells
Since Q1 2025, 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.
- Omega Healthcare Invs Inc~$135.4MCut · 0.9% → 0.2%−3,693,390 shares
- American Tower~$118.3MCut · 0.6% → 0.1%−535,044 shares
- Public Storage Oper Co~$97.0MCut · 1.5% → 1.0%−330,692 shares
- Udr Inc~$79.3MCut · 1.4% → 0.8%−1,941,403 shares
- Avalonbay Cmntys Inc~$73.5MCut · 0.4% → 0.1%−361,167 shares
- Ventas Inc~$68.1MCut · 0.6% → 0.2%−1,077,684 shares
- Vici Pptys Inc~$54.8MCut · 0.8% → 0.5%−1,681,098 shares
- Equinix~$20.3MCut · 1.7% → 1.4%−25,579 shares
- Akamai~$19.9MSold out · 0.1% → 0.0%−20,000,000 shares
- Extra Space Storage Inc~$14.5MCut · 1.7% → 1.4%−98,037 shares
Holdings
As of Jun 30, 2025. Changes are in shares against Mar 31, 2025, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| NvidiaCOM · shares +4.5% · price +45.8% | 5.0% | $1.36B | +$407.3M | ||||||||
| MicrosoftCOM · shares +4.3% · price +32.5% | 4.9% | $1.32B | +$311.7M | ||||||||
| AppleCOM · shares +17% · price −7.6% | 4.3% | $1.16B | −$82.1M | ||||||||
| AmazonCOM · shares +9.4% · price +15.3% | 3.5% | $954.1M | +$115.8M | ||||||||
| MetaCL A · shares +5.8% · price +28.1% | 3.2% | $864.8M | +$179.1M | ||||||||
| Welltower IncCOM · shares −1.6% · price +0.3% | 3.0% | $822.7M | +$2.8M | ||||||||
| BroadcomCOM · shares +1.2% · price +64.6% | 3.0% | $812.0M | +$315.0M | ||||||||
| Digital RealtyCOM · shares +3.3% · price +21.7% | 2.7% | $720.1M | +$124.1M | ||||||||
| AlphabetCAP STK CL A · shares +13% · price +14.0% | 2.6% | $691.0M | +$74.6M | ||||||||
| NetflixCOM · shares −1.0% · price +43.6% | 2.5% | $690.4M | +$209.6M | ||||||||
| PrologisCOM · shares +8.9% · price −6.0% | 2.3% | $611.2M | −$35.6M | ||||||||
| CrowdStrikeCL A · shares −2.4% · price +44.5% | 2.0% | $544.3M | +$167.5M | ||||||||
| ServiceNowCOM · shares +7.3% · price +29.1% | 2.0% | $544.2M | +$114.4M | ||||||||
| Global X FdsCONSCIOUS COS · shares +4.3% · price +8.3% | 1.8% | $491.7M | +$36.3M | ||||||||
| Invitation Homes IncCOM · shares +4.0% · price −5.9% | 1.6% | $436.9M | −$26.3M | ||||||||
| Extra Space Storage IncCOM · shares −3.6% · price −0.7% | 1.4% | $392.0M | −$2.8M | ||||||||
| EquinixCOM · shares −5.1% · price −2.4% | 1.4% | $381.7M | −$9.5M | ||||||||
| Sun Cmntys IncCOM · shares +4.8% · price −1.7% | 1.3% | $351.1M | −$5.7M | ||||||||
| Simon Ppty Group Inc NewCOM · shares −0.9% · price −3.2% | 1.2% | $329.1M | −$10.9M | ||||||||
| Iron MountainCOM · shares +7.4% · price +19.2% | 1.1% | $303.1M | +$45.5M | ||||||||
| Essex Ppty Tr IncCOM · shares +48% · price −7.6% | 1.1% | $299.5M | −$16.5M | ||||||||
| Crown Castle IncCOM · shares +3.9% · price −1.4% | 1.0% | $283.9M | −$4.0M | ||||||||
| Host Hotels & Resorts IncCOM · shares −0.8% · price +8.1% | 0.96% | $261.0M | +$19.5M | ||||||||
| Public Storage Oper CoCOM · shares −27% · price −2.0% | 0.96% | $260.4M | −$5.2M | ||||||||
| Kimco Rlty CorpCOM · shares +8.3% · price −1.0% | 0.94% | $255.0M | −$2.5M | ||||||||
| Total · 1,301 positions | 100% | $27.09B | +$2.39B |
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 Q1 2025 to Q2 2025: 1,208 stocks held throughout, up $2.39B (+10.6%).
- Nvidia+$407.3M+46%
- Broadcom+$315.0M+65%
- Microsoft+$311.7M+33%
- Netflix+$209.6M+44%
- Meta+$179.1M+28%
- Udr Inc−$22.6M−10%
- Invitation Homes Inc−$26.3M−6%
- Prologis−$35.6M−6%
- Unitedhealth Group Inc−$46.4M−40%
- Apple−$82.1M−8%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out, 7 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 ↗ |