13F filer · CIK 1481045 ↗
Daiwa Securities Group Inc.
You are looking at Q4 2025. See the latest, Q3 2026 →
Reported value
$31.30B
+5.6% on the quarter before
Positions
1,360
119 new · 92 sold out
Top 10
37.8%
of the value
Est. gain
+$64.5M
on stocks held all quarter
Est. return
+0.2%
on those stocks since Q3 2025
Positions as of Dec 31, 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, 56% of the reported value, each sized by its share, colored by what the fund did with it since Q3 2025. Striped tiles are options.
Largest buys
Since Q3 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.
- Palantir~$685.1MAdded · 0.4% → 2.5%+3,854,452 shares
- Ventas Inc~$238.0MAdded · 0.4% → 1.2%+3,075,450 shares
- Meta~$182.0MAdded · 3.1% → 3.3%+275,703 shares
- Amazon~$154.0MAdded · 3.6% → 4.0%+667,023 shares
- Microsoft~$133.2MAdded · 5.0% → 4.9%+275,511 shares
- Nvidia~$128.7MAdded · 5.7% → 5.8%+690,219 shares
- Procter And Gamble Co~$118.6MAdded · 0.2% → 0.6%+827,891 shares
- Essential Pptys Rlty Tr Inc~$116.1MAdded · 0.0% → 0.4%+3,913,986 shares
- Procter And Gamble CoPUT~$114.6MNew · 0.0% → 0.4%+800,000 underlying
- Broadcom~$107.1MAdded · 3.1% → 3.5%+309,336 shares
Largest sells
Since Q3 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.
- Global X Fds~$393.1MCut · 1.3% → 0.0%−9,070,000 shares
- Invitation Homes Inc~$131.4MCut · 1.4% → 0.9%−4,727,451 shares
- Vici Pptys Inc~$106.3MCut · 0.5% → 0.1%−3,778,554 shares
- Welltower Inc~$79.7MCut · 3.0% → 2.7%−429,532 shares
- Host Hotels & Resorts Inc~$69.3MCut · 0.8% → 0.6%−3,908,142 shares
- ServiceNow~$68.0MCut · 2.1% → 0.1%−443,940 shares
- Prologis~$63.5MCut · 2.1% → 2.0%−497,428 shares
- Realty Income Corp~$59.7MCut · 0.8% → 0.5%−1,059,554 shares
- Lamar Advertising Co New~$47.0MCut · 0.6% → 0.4%−370,971 shares
- Evergy~$44.0MSold out · 0.1% → 0.0%−35,000,000 shares
Holdings
As of Dec 31, 2025. Changes are in shares against Sep 30, 2025, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| NvidiaCOM · shares +7.7% · price −0.0% | 5.8% | $1.81B | −$678,027 | ||||||||
| AppleCOM · shares +0.5% · price +6.8% | 5.1% | $1.59B | +$100.3M | ||||||||
| MicrosoftCOM · shares +9.5% · price −6.6% | 4.9% | $1.53B | −$99.1M | ||||||||
| AmazonCOM · shares +14% · price +5.1% | 4.0% | $1.27B | +$54.2M | ||||||||
| AlphabetCAP STK CL A · shares −2.7% · price +28.8% | 3.6% | $1.12B | +$249.8M | ||||||||
| BroadcomCOM · shares +11% · price +4.9% | 3.5% | $1.09B | +$45.8M | ||||||||
| MetaCL A · shares +22% · price −10.1% | 3.3% | $1.02B | −$94.2M | ||||||||
| Welltower IncCOM · shares −8.8% · price +4.2% | 2.7% | $831.1M | +$33.4M | ||||||||
| PalantirCL A · shares +638% · price −2.6% | 2.5% | $792.6M | −$2.8M | ||||||||
| NetflixCOM · shares −2.2% · price +9.5% | 2.5% | $783.0M | +$67.8M | ||||||||
| CrowdStrikeCL A · shares +6.6% · price −4.4% | 2.3% | $712.6M | −$30.8M | ||||||||
| Digital RealtyCOM · shares +10% · price −10.5% | 2.2% | $703.3M | −$74.8M | ||||||||
| PrologisCOM · shares −9.4% · price +11.5% | 2.0% | $614.4M | +$63.2M | ||||||||
| Crown Castle IncCOM · shares +9.7% · price −7.9% | 1.2% | $383.3M | −$30.0M | ||||||||
| EquinixCOM · shares +4.2% · price −2.2% | 1.2% | $380.1M | −$8.1M | ||||||||
| AlphabetCAP STK CL C · shares +8.5% · price +28.8% | 1.2% | $378.1M | +$78.0M | ||||||||
| Ventas IncCOM · shares +189% · price +10.6% | 1.2% | $364.1M | +$12.0M | ||||||||
| Extra Space Storage IncCOM · shares +7.2% · price −7.6% | 1.2% | $361.6M | −$27.8M | ||||||||
| Iron MountainCOM · shares +16% · price −18.6% | 0.97% | $303.1M | −$59.8M | ||||||||
| Simon Ppty Group Inc NewCOM · shares −13% · price −1.4% | 0.96% | $301.2M | −$4.2M | ||||||||
| Essex Ppty Tr IncCOM · shares −4.5% · price −2.2% | 0.92% | $289.4M | −$6.6M | ||||||||
| TeslaCOM · shares +4.1% · price +1.1% | 0.92% | $287.2M | +$3.1M | ||||||||
| Invitation Homes IncCOM · shares −33% · price −5.3% | 0.87% | $271.2M | −$15.0M | ||||||||
| Kimco Rlty CorpCOM · shares −3.8% · price −7.2% | 0.76% | $237.8M | −$18.5M | ||||||||
| Equity Lifestyle Pptys IncCOM · shares +16% · price −0.1% | 0.71% | $221.6M | −$283,160 | ||||||||
| Total · 1,360 positions | 100% | $31.30B | +$64.5M |
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 2025 to Q4 2025: 1,234 stocks held throughout, up $64.5M (+0.2%).
- Alphabet+$249.8M+29%
- Apple+$100.3M+7%
- Alphabet+$78.0M+29%
- Netflix14:1 split+$67.8M+9%
- Prologis+$63.2M+11%
- Iron Mountain−$59.8M−19%
- Digital Realty−$74.8M−11%
- Meta−$94.2M−10%
- Microsoft−$99.1M−7%
- ServiceNow−$179.9M−83%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out, 11 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 ↗ |