Location
Baltimore, MD
Holdings as of
12/31/2025
Date filed
2/10/2026
Form type
13F-HR
Num holdings
48
Total value ($000)
$2,496,975
Net value change ($000)
-49,625 (-1.9%)
New positions
7
Sold out positions
3
Turnover %
15.9%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/12/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
LXP 84,821 NEW
SBRA 66,938 NEW
FCPT 32,889 NEW
ESRT 24,398 209.9%
NNN 23,904 NEW
OUT 16,728 24.7%
EQR 11,644 15.3%
KRG 11,058 17.6%
FRT 8,072 28.7%
FR 7,373 19.5%
Top Reduces (Value $000, Stocks/ETFs)
LXP -87,414 -100.0%
OHI -71,394 -100.0%
O -46,462 -52.7%
NTST -29,011 -100.0%
DLR -26,569 -29.9%
VICI -23,492 -32.5%
PSA -20,495 -14.1%
ARE -15,617 -15.8%
EQIX -9,736 -3.8%
CURB -7,814 -30.0%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type