Pensionfund Sabic — Q4 2025 13F Holdings

Holdings as of December 31, 2025

Portfolio value

$368.68M

Holdings count

221

221 positions reported

Accession #

0001637246-26-000008

Form 13F-HR

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All Reported Positions

221 positions sorted by value

221 positions

Issuer	CUSIP	Valuev	Weight	Shares/Prin.	Discretion	Voting (Sole/Shared/None)
APPLE INCCOMMON STOCK	037833100	$9.27M	2.51%	34,080shares	SOLE	0 / 0 / 34,080
MICROSOFT CORPCOMMON STOCK	594918104	$8.99M	2.44%	18,590shares	SOLE	0 / 0 / 18,590
NVIDIA CORPCOMMON STOCK	67066G104	$8.90M	2.41%	47,700shares	SOLE	0 / 0 / 47,700
META PLATFORMS INC-CLASS ACOMMON STOCK	30303M102	$8.71M	2.36%	13,200shares	SOLE	0 / 0 / 13,200
BROADCOM INCCOMMON STOCK	11135F101	$8.51M	2.31%	24,600shares	SOLE	0 / 0 / 24,600
AMAZON.COM INCCOMMON STOCK	023135106	$7.85M	2.13%	34,000shares	SOLE	0 / 0 / 34,000
JPMORGAN CHASE and COCOMMON STOCK	46625H100	$7.51M	2.04%	23,300shares	SOLE	0 / 0 / 23,300
Prologis IncCOMMON STOCK	74340W103	$7.46M	2.02%	58,458shares	SOLE	0 / 0 / 58,458
ALPHABET INC-CL ACOMMON STOCK	02079K305	$5.54M	1.50%	17,700shares	SOLE	0 / 0 / 17,700
Welltower IncCOMMON STOCK	95040Q104	$5.30M	1.44%	28,559shares	SOLE	0 / 0 / 28,559
VISA INC-CLASS A SHARESCOMMON STOCK	92826C839	$5.05M	1.37%	14,400shares	SOLE	0 / 0 / 14,400
Equinix IncCOMMON STOCK	29444U700	$4.90M	1.33%	6,390shares	SOLE	0 / 0 / 6,390
JOHNSON and JOHNSONCOMMON STOCK	478160104	$4.82M	1.31%	23,300shares	SOLE	0 / 0 / 23,300
ALPHABET INC-CL CCOMMON STOCK	02079K107	$4.71M	1.28%	15,000shares	SOLE	0 / 0 / 15,000
BERKSHIRE HATHAWAY INC-CL BCOMMON STOCK	084670702	$4.52M	1.23%	9,000shares	SOLE	0 / 0 / 9,000
WALMART INCCOMMON STOCK	931142103	$4.38M	1.19%	39,300shares	SOLE	0 / 0 / 39,300
MASTERCARD INC - ACOMMON STOCK	57636Q104	$4.34M	1.18%	7,600shares	SOLE	0 / 0 / 7,600
ABBVIE INCCOMMON STOCK	00287Y109	$4.02M	1.09%	17,600shares	SOLE	0 / 0 / 17,600
EXXON MOBIL CORPCOMMON STOCK	30231G102	$3.75M	1.02%	31,200shares	SOLE	0 / 0 / 31,200
Realty Income CorpCOMMON STOCK	756109104	$3.71M	1.01%	65,738shares	SOLE	0 / 0 / 65,738
CISCO SYSTEMS INCCOMMON STOCK	17275R102	$3.63M	0.98%	47,100shares	SOLE	0 / 0 / 47,100
Simon Property Group IncCOMMON STOCK	828806109	$3.46M	0.94%	18,706shares	SOLE	0 / 0 / 18,706
Digital Realty Trust IncCOMMON STOCK	253868103	$3.32M	0.90%	21,447shares	SOLE	0 / 0 / 21,447
COSTCO WHOLESALE CORPCOMMON STOCK	22160K105	$3.28M	0.89%	3,800shares	SOLE	0 / 0 / 3,800
HOME DEPOT INCCOMMON STOCK	437076102	$3.27M	0.89%	9,500shares	SOLE	0 / 0 / 9,500
INTL BUSINESS MACHINES CORPCOMMON STOCK	459200101	$3.23M	0.88%	10,900shares	SOLE	0 / 0 / 10,900
PROCTER and GAMBLE CO/THECOMMON STOCK	742718109	$3.21M	0.87%	22,400shares	SOLE	0 / 0 / 22,400
LAM RESEARCH CORPCOMMON STOCK	512807306	$3.18M	0.86%	18,600shares	SOLE	0 / 0 / 18,600
MERCK and CO. INC.COMMON STOCK	58933Y105	$3.05M	0.83%	29,000shares	SOLE	0 / 0 / 29,000
KLA CORPCOMMON STOCK	482480100	$2.73M	0.74%	2,250shares	SOLE	0 / 0 / 2,250
APPLIED MATERIALS INCCOMMON STOCK	038222105	$2.72M	0.74%	10,600shares	SOLE	0 / 0 / 10,600
UNITEDHEALTH GROUP INCCOMMON STOCK	91324P102	$2.69M	0.73%	8,150shares	SOLE	0 / 0 / 8,150
Public StorageCOMMON STOCK	74460D109	$2.68M	0.73%	10,313shares	SOLE	0 / 0 / 10,313
VICI Properties IncCOMMON STOCK	925652109	$2.60M	0.71%	92,500shares	SOLE	0 / 0 / 92,500
QUALCOMM INCCOMMON STOCK	747525103	$2.48M	0.67%	14,500shares	SOLE	0 / 0 / 14,500
ABBOTT LABORATORIESCOMMON STOCK	002824100	$2.47M	0.67%	19,700shares	SOLE	0 / 0 / 19,700
MCDONALD'S CORPCOMMON STOCK	580135101	$2.44M	0.66%	8,000shares	SOLE	0 / 0 / 8,000
AMGEN INCCOMMON STOCK	031162100	$2.42M	0.66%	7,400shares	SOLE	0 / 0 / 7,400
LINDE PLCCOMMON STOCK	000000000	$2.35M	0.64%	5,500shares	SOLE	0 / 0 / 5,500
Ventas IncCOMMON STOCK	92276F100	$2.34M	0.63%	30,205shares	SOLE	0 / 0 / 30,205
PEPSICO INCCOMMON STOCK	713448108	$2.31M	0.63%	16,100shares	SOLE	0 / 0 / 16,100
BLACKROCK INCCOMMON STOCK	09290D101	$2.22M	0.60%	2,070shares	SOLE	0 / 0 / 2,070
BOOKING HOLDINGS INCCOMMON STOCK	09857L108	$2.20M	0.60%	410shares	SOLE	0 / 0 / 410
GILEAD SCIENCES INCCOMMON STOCK	375558103	$2.19M	0.59%	17,800shares	SOLE	0 / 0 / 17,800
VERIZON COMMUNICATIONS INCCOMMON STOCK	92343V104	$2.15M	0.58%	52,900shares	SOLE	0 / 0 / 52,900
ATandT INCCOMMON STOCK	00206R102	$2.09M	0.57%	84,200shares	SOLE	0 / 0 / 84,200
ADOBE INCCOMMON STOCK	00724F101	$2.00M	0.54%	5,700shares	SOLE	0 / 0 / 5,700
LOWE'S COS INCCOMMON STOCK	548661107	$1.95M	0.53%	8,100shares	SOLE	0 / 0 / 8,100
UNION PACIFIC CORPCOMMON STOCK	907818108	$1.94M	0.53%	8,400shares	SOLE	0 / 0 / 8,400
CUMMINS INCCOMMON STOCK	231021106	$1.94M	0.53%	3,800shares	SOLE	0 / 0 / 3,800
MCKESSON CORPCOMMON STOCK	58155Q103	$1.89M	0.51%	2,300shares	SOLE	0 / 0 / 2,300
ELECTRONIC ARTS INCCOMMON STOCK	285512109	$1.88M	0.51%	9,200shares	SOLE	0 / 0 / 9,200
PFIZER INCCOMMON STOCK	717081103	$1.86M	0.51%	74,800shares	SOLE	0 / 0 / 74,800
BRISTOL-MYERS SQUIBB COCOMMON STOCK	110122108	$1.84M	0.50%	34,200shares	SOLE	0 / 0 / 34,200
ELI LILLY and COCOMMON STOCK	532457108	$1.83M	0.50%	1,700shares	SOLE	0 / 0 / 1,700
AvalonBay Communities IncCOMMON STOCK	053484101	$1.81M	0.49%	10,002shares	SOLE	0 / 0 / 10,002
CARDINAL HEALTH INCCOMMON STOCK	14149Y108	$1.79M	0.48%	8,700shares	SOLE	0 / 0 / 8,700
TRAVELERS COS INC/THECOMMON STOCK	89417E109	$1.71M	0.46%	5,900shares	SOLE	0 / 0 / 5,900
AUTOMATIC DATA PROCESSINGCOMMON STOCK	053015103	$1.70M	0.46%	6,600shares	SOLE	0 / 0 / 6,600
KINDER MORGAN INCCOMMON STOCK	49456B101	$1.69M	0.46%	61,500shares	SOLE	0 / 0 / 61,500
CADENCE DESIGN SYS INCCOMMON STOCK	127387108	$1.63M	0.44%	5,200shares	SOLE	0 / 0 / 5,200
CENCORA INCCOMMON STOCK	03073E105	$1.62M	0.44%	4,800shares	SOLE	0 / 0 / 4,800
Realty Income CorpCOMMON STOCK	756109104	$1.59M	0.43%	28,300shares	SOLE	0 / 0 / 28,300
SEMPRA ENERGYCOMMON STOCK	816851109	$1.58M	0.43%	17,900shares	SOLE	0 / 0 / 17,900
O'REILLY AUTOMOTIVE INCCOMMON STOCK	67103H107	$1.57M	0.43%	17,250shares	SOLE	0 / 0 / 17,250
Equity ResidentialCOMMON STOCK	29476L107	$1.57M	0.43%	24,853shares	SOLE	0 / 0 / 24,853
Iron Mountain IncCOMMON STOCK	46284V101	$1.56M	0.42%	18,800shares	SOLE	0 / 0 / 18,800
AFLAC INCCOMMON STOCK	001055102	$1.55M	0.42%	14,100shares	SOLE	0 / 0 / 14,100
MARSH and MCLENNAN COSCOMMON STOCK	571748102	$1.54M	0.42%	8,300shares	SOLE	0 / 0 / 8,300
EXPEDITORS INTL WASH INCCOMMON STOCK	302130109	$1.53M	0.42%	10,300shares	SOLE	0 / 0 / 10,300
ILLINOIS TOOL WORKSCOMMON STOCK	452308109	$1.53M	0.41%	6,200shares	SOLE	0 / 0 / 6,200
Healthpeak Properties IncCOMMON STOCK	42250P103	$1.52M	0.41%	94,755shares	SOLE	0 / 0 / 94,755
KEYSIGHT TECHNOLOGIES INCOMMON STOCK	49338L103	$1.52M	0.41%	7,500shares	SOLE	0 / 0 / 7,500
AON PLC-CLASS ACOMMON STOCK	000000000	$1.52M	0.41%	4,300shares	SOLE	0 / 0 / 4,300
HARTFORD FINANCIAL SVCS GRPCOMMON STOCK	416515104	$1.52M	0.41%	11,000shares	SOLE	0 / 0 / 11,000
ULTA BEAUTY INCCOMMON STOCK	90384S303	$1.51M	0.41%	2,500shares	SOLE	0 / 0 / 2,500
AMERIPRISE FINANCIAL INCCOMMON STOCK	03076C106	$1.47M	0.40%	3,000shares	SOLE	0 / 0 / 3,000
COGNIZANT TECH SOLUTIONS-ACOMMON STOCK	192446102	$1.47M	0.40%	17,700shares	SOLE	0 / 0 / 17,700
BANK OF AMERICA CORPCOMMON STOCK	060505104	$1.46M	0.40%	26,600shares	SOLE	0 / 0 / 26,600
MOTOROLA SOLUTIONS INCCOMMON STOCK	620076307	$1.46M	0.40%	3,800shares	SOLE	0 / 0 / 3,800
MARKEL GROUP INCCOMMON STOCK	570535104	$1.44M	0.39%	670shares	SOLE	0 / 0 / 670
WP Carey IncCOMMON STOCK	92936U109	$1.44M	0.39%	22,304shares	SOLE	0 / 0 / 22,304
DOMINION ENERGY INCCOMMON STOCK	25746U109	$1.43M	0.39%	24,400shares	SOLE	0 / 0 / 24,400
EBAY INCCOMMON STOCK	278642103	$1.43M	0.39%	16,400shares	SOLE	0 / 0 / 16,400
CVS HEALTH CORPCOMMON STOCK	126650100	$1.43M	0.39%	18,000shares	SOLE	0 / 0 / 18,000
ELEVANCE HEALTH INCCOMMON STOCK	036752103	$1.42M	0.39%	4,050shares	SOLE	0 / 0 / 4,050
HOLOGIC INCCOMMON STOCK	436440101	$1.40M	0.38%	18,800shares	SOLE	0 / 0 / 18,800
METLIFE INCCOMMON STOCK	59156R108	$1.38M	0.37%	17,500shares	SOLE	0 / 0 / 17,500
ROYALTY PHARMA PLC- CL ACOMMON STOCK	000000000	$1.37M	0.37%	35,500shares	SOLE	0 / 0 / 35,500
YUM! BRANDS INCCOMMON STOCK	988498101	$1.36M	0.37%	9,000shares	SOLE	0 / 0 / 9,000
SHERWIN-WILLIAMS CO/THECOMMON STOCK	824348106	$1.36M	0.37%	4,200shares	SOLE	0 / 0 / 4,200
VICI Properties IncCOMMON STOCK	925652109	$1.36M	0.37%	48,300shares	SOLE	0 / 0 / 48,300
Invitation Homes IncCOMMON STOCK	46187W107	$1.34M	0.36%	48,265shares	SOLE	0 / 0 / 48,265
FIRSTENERGY CORPCOMMON STOCK	337932107	$1.34M	0.36%	29,900shares	SOLE	0 / 0 / 29,900
CINTAS CORPCOMMON STOCK	172908105	$1.33M	0.36%	7,100shares	SOLE	0 / 0 / 7,100
COLGATE-PALMOLIVE COCOMMON STOCK	194162103	$1.33M	0.36%	16,900shares	SOLE	0 / 0 / 16,900
ZOETIS INCCOMMON STOCK	98978V103	$1.32M	0.36%	10,500shares	SOLE	0 / 0 / 10,500
WP Carey IncCOMMON STOCK	92936U109	$1.32M	0.36%	20,500shares	SOLE	0 / 0 / 20,500
DR HORTON INCCOMMON STOCK	23331A109	$1.31M	0.36%	9,100shares	SOLE	0 / 0 / 9,100
NETAPP INCCOMMON STOCK	64110D104	$1.31M	0.35%	12,200shares	SOLE	0 / 0 / 12,200
EXELON CORPCOMMON STOCK	30161N101	$1.30M	0.35%	29,900shares	SOLE	0 / 0 / 29,900
PUBLIC SERVICE ENTERPRISE GPCOMMON STOCK	744573106	$1.30M	0.35%	16,200shares	SOLE	0 / 0 / 16,200
EVERSOURCE ENERGYCOMMON STOCK	30040W108	$1.30M	0.35%	19,300shares	SOLE	0 / 0 / 19,300
AGILENT TECHNOLOGIES INCCOMMON STOCK	00846U101	$1.29M	0.35%	9,500shares	SOLE	0 / 0 / 9,500
ATMOS ENERGY CORPCOMMON STOCK	049560105	$1.29M	0.35%	7,700shares	SOLE	0 / 0 / 7,700
AUTOZONE INCCOMMON STOCK	053332102	$1.29M	0.35%	380shares	SOLE	0 / 0 / 380
AMERICAN FINANCIAL GROUP INCCOMMON STOCK	025932104	$1.27M	0.34%	9,300shares	SOLE	0 / 0 / 9,300
WW GRAINGER INCCOMMON STOCK	384802104	$1.26M	0.34%	1,250shares	SOLE	0 / 0 / 1,250
HERSHEY CO/THECOMMON STOCK	427866108	$1.26M	0.34%	6,900shares	SOLE	0 / 0 / 6,900
METTLER-TOLEDO INTERNATIONALCOMMON STOCK	592688105	$1.25M	0.34%	900shares	SOLE	0 / 0 / 900
WR BERKLEY CORPCOMMON STOCK	084423102	$1.25M	0.34%	17,850shares	SOLE	0 / 0 / 17,850
DOVER CORPCOMMON STOCK	260003108	$1.23M	0.33%	6,300shares	SOLE	0 / 0 / 6,300
EVERGY INCCOMMON STOCK	30034W106	$1.23M	0.33%	16,900shares	SOLE	0 / 0 / 16,900
PULTEGROUP INCCOMMON STOCK	745867101	$1.22M	0.33%	10,400shares	SOLE	0 / 0 / 10,400
NETFLIX INCCOMMON STOCK	64110L106	$1.22M	0.33%	13,000shares	SOLE	0 / 0 / 13,000
SNAP-ON INCCOMMON STOCK	833034101	$1.21M	0.33%	3,500shares	SOLE	0 / 0 / 3,500
JACK HENRY and ASSOCIATES INCCOMMON STOCK	426281101	$1.20M	0.33%	6,600shares	SOLE	0 / 0 / 6,600
TRACTOR SUPPLY COMPANYCOMMON STOCK	892356106	$1.20M	0.32%	23,900shares	SOLE	0 / 0 / 23,900
FASTENAL COCOMMON STOCK	311900104	$1.19M	0.32%	29,700shares	SOLE	0 / 0 / 29,700
Essex Property Trust IncCOMMON STOCK	297178105	$1.19M	0.32%	4,550shares	SOLE	0 / 0 / 4,550
TEXAS INSTRUMENTS INCCOMMON STOCK	882508104	$1.18M	0.32%	6,800shares	SOLE	0 / 0 / 6,800
Public StorageCOMMON STOCK	74460D109	$1.17M	0.32%	4,500shares	SOLE	0 / 0 / 4,500
KROGER COCOMMON STOCK	501044101	$1.16M	0.31%	18,500shares	SOLE	0 / 0 / 18,500
Extra Space Storage IncCOMMON STOCK	30225T102	$1.15M	0.31%	8,855shares	SOLE	0 / 0 / 8,855
EDISON INTERNATIONALCOMMON STOCK	281020107	$1.15M	0.31%	19,100shares	SOLE	0 / 0 / 19,100
WILLIAMS-SONOMA INCCOMMON STOCK	969904101	$1.14M	0.31%	6,400shares	SOLE	0 / 0 / 6,400
OTIS WORLDWIDE CORPCOMMON STOCK	68902V107	$1.14M	0.31%	13,000shares	SOLE	0 / 0 / 13,000
NVR INCCOMMON STOCK	62944T105	$1.13M	0.31%	155shares	SOLE	0 / 0 / 155
CORPAY INCCOMMON STOCK	219948106	$1.11M	0.30%	3,700shares	SOLE	0 / 0 / 3,700
QUEST DIAGNOSTICS INCCOMMON STOCK	74834L100	$1.11M	0.30%	6,400shares	SOLE	0 / 0 / 6,400
SYSCO CORPCOMMON STOCK	871829107	$1.10M	0.30%	15,000shares	SOLE	0 / 0 / 15,000
DICK'S SPORTING GOODS INCCOMMON STOCK	253393102	$1.09M	0.30%	5,500shares	SOLE	0 / 0 / 5,500
KIMBERLY-CLARK CORPCOMMON STOCK	494368103	$1.06M	0.29%	10,500shares	SOLE	0 / 0 / 10,500
GENUINE PARTS COCOMMON STOCK	372460105	$1.06M	0.29%	8,600shares	SOLE	0 / 0 / 8,600
Brixmor Property Group IncCOMMON STOCK	11120U105	$1.05M	0.29%	40,211shares	SOLE	0 / 0 / 40,211
Regency Centers CorpCOMMON STOCK	758849103	$1.03M	0.28%	15,000shares	SOLE	0 / 0 / 15,000
American Homes 4 RentCOMMON STOCK	02665T306	$1.03M	0.28%	32,000shares	SOLE	0 / 0 / 32,000
PAYCHEX INCCOMMON STOCK	704326107	$1.03M	0.28%	9,150shares	SOLE	0 / 0 / 9,150
Lamar Advertising CoCOMMON STOCK	512816109	$1.02M	0.28%	8,100shares	SOLE	0 / 0 / 8,100
Mid-America Apartment Communities IncCOMMON STOCK	59522J103	$1.02M	0.28%	7,350shares	SOLE	0 / 0 / 7,350
Omega Healthcare Investors IncCOMMON STOCK	681936100	$1.02M	0.28%	23,000shares	SOLE	0 / 0 / 23,000
STAG Industrial IncCOMMON STOCK	85254J102	$1.01M	0.27%	27,363shares	SOLE	0 / 0 / 27,363
BEST BUY CO INCCOMMON STOCK	086516101	$1.00M	0.27%	15,000shares	SOLE	0 / 0 / 15,000
KEURIG DR PEPPER INCCOMMON STOCK	49271V100	$1.00M	0.27%	35,800shares	SOLE	0 / 0 / 35,800
DOMINO'S PIZZA INCCOMMON STOCK	25754A201	$1.00M	0.27%	2,400shares	SOLE	0 / 0 / 2,400
MASCO CORPCOMMON STOCK	574599106	$996K	0.27%	15,700shares	SOLE	0 / 0 / 15,700
American Homes 4 RentCOMMON STOCK	02665T306	$995K	0.27%	31,000shares	SOLE	0 / 0 / 31,000
INCYTE CORPCOMMON STOCK	45337C102	$988K	0.27%	10,000shares	SOLE	0 / 0 / 10,000
RPM INTERNATIONAL INCCOMMON STOCK	749685103	$978K	0.27%	9,400shares	SOLE	0 / 0 / 9,400
KRAFT HEINZ CO/THECOMMON STOCK	500754106	$970K	0.26%	40,000shares	SOLE	0 / 0 / 40,000
VERISK ANALYTICS INCCOMMON STOCK	92345Y106	$962K	0.26%	4,300shares	SOLE	0 / 0 / 4,300
CARLISLE COS INCCOMMON STOCK	142339100	$960K	0.26%	3,000shares	SOLE	0 / 0 / 3,000
PAYCOM SOFTWARE INCCOMMON STOCK	70432V102	$956K	0.26%	6,000shares	SOLE	0 / 0 / 6,000
HP INCCOMMON STOCK	40434L105	$940K	0.25%	42,200shares	SOLE	0 / 0 / 42,200
GENERAL MILLS INCCOMMON STOCK	370334104	$930K	0.25%	20,000shares	SOLE	0 / 0 / 20,000
Sabra Health Care REIT IncCOMMON STOCK	78573L106	$926K	0.25%	48,874shares	SOLE	0 / 0 / 48,874
LENNOX INTERNATIONAL INCCOMMON STOCK	526107107	$923K	0.25%	1,900shares	SOLE	0 / 0 / 1,900
CDW CORP/DECOMMON STOCK	12514G108	$916K	0.25%	6,725shares	SOLE	0 / 0 / 6,725
LXP Industrial TrustCOMMON STOCK	529043408	$912K	0.25%	18,400shares	SOLE	0 / 0 / 18,400
National Retail Properties IncCOMMON STOCK	637417106	$904K	0.25%	22,800shares	SOLE	0 / 0 / 22,800
VERISIGN INCCOMMON STOCK	92343E102	$899K	0.24%	3,700shares	SOLE	0 / 0 / 3,700
Host Hotels and Resorts IncCOMMON STOCK	44107P104	$866K	0.23%	48,843shares	SOLE	0 / 0 / 48,843
EPR PropertiesCOMMON STOCK	26884U109	$863K	0.23%	17,300shares	SOLE	0 / 0 / 17,300
JM SMUCKER CO/THECOMMON STOCK	832696405	$861K	0.23%	8,800shares	SOLE	0 / 0 / 8,800
CubeSmartCOMMON STOCK	229663109	$854K	0.23%	23,700shares	SOLE	0 / 0 / 23,700
FAIR ISAAC CORPCOMMON STOCK	303250104	$845K	0.23%	500shares	SOLE	0 / 0 / 500
Essential Properties Realty Trust IncCOMMON STOCK	29670E107	$816K	0.22%	27,500shares	SOLE	0 / 0 / 27,500
GODADDY INC - CLASS ACOMMON STOCK	380237107	$807K	0.22%	6,500shares	SOLE	0 / 0 / 6,500
Camden Property TrustCOMMON STOCK	133131102	$774K	0.21%	7,031shares	SOLE	0 / 0 / 7,031
UDR IncCOMMON STOCK	902653104	$766K	0.21%	20,888shares	SOLE	0 / 0 / 20,888
Broadstone Net Lease IncCOMMON STOCK	11135E203	$764K	0.21%	44,000shares	SOLE	0 / 0 / 44,000
Kite Realty Group TrustCOMMON STOCK	49803T300	$705K	0.19%	29,400shares	SOLE	0 / 0 / 29,400
BOOZ ALLEN HAMILTON HOLDINGSCOMMON STOCK	099502106	$700K	0.19%	8,300shares	SOLE	0 / 0 / 8,300
CareTrust REIT IncCOMMON STOCK	14174T107	$687K	0.19%	19,000shares	SOLE	0 / 0 / 19,000
Getty Realty CorpCOMMON STOCK	374297109	$671K	0.18%	24,500shares	SOLE	0 / 0 / 24,500
UNITED PARCEL SERVICE-CL BCOMMON STOCK	911312106	$655K	0.18%	6,600shares	SOLE	0 / 0 / 6,600
Americold Realty Trust IncCOMMON STOCK	03064D108	$607K	0.16%	47,200shares	SOLE	0 / 0 / 47,200
GARTNER INCCOMMON STOCK	366651107	$605K	0.16%	2,400shares	SOLE	0 / 0 / 2,400
Cousins Properties IncCOMMON STOCK	222795502	$603K	0.16%	23,400shares	SOLE	0 / 0 / 23,400
Healthcare Realty Trust IncCOMMON STOCK	42226K105	$552K	0.15%	32,582shares	SOLE	0 / 0 / 32,582
Millrose Properties IncCOMMON STOCK	601137102	$538K	0.15%	18,000shares	SOLE	0 / 0 / 18,000
HUMANA INCCOMMON STOCK	444859102	$538K	0.15%	2,100shares	SOLE	0 / 0 / 2,100
Outfront Media IncCOMMON STOCK	69007J304	$526K	0.14%	21,808shares	SOLE	0 / 0 / 21,808
LTC Properties IncCOMMON STOCK	502175102	$505K	0.14%	14,700shares	SOLE	0 / 0 / 14,700
OMNICOM GROUPCOMMON STOCK	681919106	$505K	0.14%	6,260shares	SOLE	0 / 0 / 6,260
Sila Realty Trust IncCOMMON STOCK	146280508	$466K	0.13%	20,000shares	SOLE	0 / 0 / 20,000
Global Medical REIT IncCOMMON STOCK	37954A303	$433K	0.12%	12,840shares	SOLE	0 / 0 / 12,840
Alexandria Real Estate Equities IncCOMMON STOCK	015271109	$428K	0.12%	8,750shares	SOLE	0 / 0 / 8,750
Boston Properties IncCOMMON STOCK	101121101	$419K	0.11%	6,214shares	SOLE	0 / 0 / 6,214
WATERS CORPCOMMON STOCK	941848103	$418K	0.11%	1,100shares	SOLE	0 / 0 / 1,100
Independence Realty Trust IncCOMMON STOCK	45378A106	$402K	0.11%	23,000shares	SOLE	0 / 0 / 23,000
UMH Properties IncCOMMON STOCK	903002103	$391K	0.11%	24,564shares	SOLE	0 / 0 / 24,564
Kimco Realty CorpCOMMON STOCK	49446R109	$371K	0.10%	18,295shares	SOLE	0 / 0 / 18,295
Four Corners Property Trust IncCOMMON STOCK	35086T109	$334K	0.09%	14,500shares	SOLE	0 / 0 / 14,500
Community Healthcare Trust IncCOMMON STOCK	20369C106	$328K	0.09%	20,000shares	SOLE	0 / 0 / 20,000
Regency Centers CorpCOMMON STOCK	758849103	$304K	0.08%	4,399shares	SOLE	0 / 0 / 4,399
Park Hotels and Resorts IncCOMMON STOCK	700517105	$304K	0.08%	29,106shares	SOLE	0 / 0 / 29,106
CenterspaceCOMMON STOCK	15202L107	$302K	0.08%	4,519shares	SOLE	0 / 0 / 4,519
National Health Investors IncCOMMON STOCK	63633D104	$267K	0.07%	3,500shares	SOLE	0 / 0 / 3,500
Highwoods Properties IncCOMMON STOCK	431284108	$250K	0.07%	9,698shares	SOLE	0 / 0 / 9,698
RLJ Lodging TrustCOMMON STOCK	74965L101	$232K	0.06%	31,100shares	SOLE	0 / 0 / 31,100
Curbline Properties CorpCOMMON STOCK	23128Q101	$232K	0.06%	10,000shares	SOLE	0 / 0 / 10,000
Medical Properties Trust IncCOMMON STOCK	58463J304	$218K	0.06%	43,500shares	SOLE	0 / 0 / 43,500
Innovative Industrial Properties IncCOMMON STOCK	45781V101	$209K	0.06%	4,404shares	SOLE	0 / 0 / 4,404
Vornado Realty TrustCOMMON STOCK	929042109	$208K	0.06%	6,237shares	SOLE	0 / 0 / 6,237
Kilroy Realty CorpCOMMON STOCK	49427F108	$206K	0.06%	5,500shares	SOLE	0 / 0 / 5,500
TANGER INCCOMMON STOCK	875465106	$200K	0.05%	6,000shares	SOLE	0 / 0 / 6,000
Apple Hospitality REIT IncCOMMON STOCK	03784Y200	$190K	0.05%	16,000shares	SOLE	0 / 0 / 16,000
Macerich Co/TheCOMMON STOCK	554382101	$160K	0.04%	8,692shares	SOLE	0 / 0 / 8,692
Brandywine Realty TrustCOMMON STOCK	105368203	$136K	0.04%	46,500shares	SOLE	0 / 0 / 46,500
Global Net Lease IncCOMMON STOCK	379378201	$125K	0.03%	14,492shares	SOLE	0 / 0 / 14,492
Chatham Lodging TrustCOMMON STOCK	16208T102	$102K	0.03%	15,000shares	SOLE	0 / 0 / 15,000
Summit Hotel Properties IncCOMMON STOCK	866082100	$91K	0.02%	18,700shares	SOLE	0 / 0 / 18,700
Plymouth Industrial REIT IncCOMMON STOCK	729640102	$77K	0.02%	3,527shares	SOLE	0 / 0 / 3,527
National Storage Affiliates TrustCOMMON STOCK	637870106	$73K	0.02%	2,600shares	SOLE	0 / 0 / 2,600
Pebblebrook Hotel TrustCOMMON STOCK	70509V100	$72K	0.02%	6,355shares	SOLE	0 / 0 / 6,355
Hudson Pacific Properties IncCOMMON STOCK	444097406	$59K	0.02%	5,428shares	SOLE	0 / 0 / 5,428
SITE Centers CorpCOMMON STOCK	82981J851	$32K	0.01%	5,000shares	SOLE	0 / 0 / 5,000
Power REITCOMMON STOCK	73933H101	$26K	0.01%	29,948shares	SOLE	0 / 0 / 29,948
NEW YORK REIT INC liquidation shsCOMMON STOCK	64976L208	$0	0.00%	2,200shares	SOLE	0 / 0 / 2,200
RETAIL VALUE INC liquidatedCOMMON STOCK	000000000	$0	0.00%	108shares	SOLE	0 / 0 / 108

Filing Metadata

Form type

13F-HR

Filing date

Jan 12, 2026

Holdings as of

December 31, 2025

Accession

0001637246-26-000008

CIK

0001637246

View on SEC

Portfolio Snapshot

Total Portfolio Value

$368.68M

Number of Positions

221

221 reported by filer

Top 10 Concentration

21.2%

Top 20 Concentration

33.2%

Unique Issuers

212

By CUSIP

Avg. Position Size

$1.67M

Across 221 holdings

Top 5 Holdings

APPLE INC2.5%

MICROSOFT CORP2.4%

NVIDIA CORP2.4%

META PLATFORMS INC-CLASS A2.4%

BROADCOM INC2.3%