Resolution Capital Portfolio holdings
Resolution Capital is an Australian fund manager that invests only in listed real estate and infrastructure around the world. The firm was founded in 2004, though its investment approach and the core of its team go back to 1995. Its direct owner, Foray Enterprises, is majority owned by employees, with the rest held by Pinnacle Investment Management, which also provides distribution and business development services. It builds concentrated portfolios of higher quality assets with sound balance sheets and disciplined management, and focuses on the risks of each investment rather than on how far it strays from a benchmark. Two of its funds trade on the ASX as active ETFs, one in global property securities and one in global listed infrastructure, and its clients include public and corporate pension plans.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Terreno Realty
TRNO
|
+$15.6M |
| 2 |
Simon Property Group
SPG
|
+$13.1M |
| 3 |
Host Hotels & Resorts
HST
|
+$8.09M |
| 4 |
Boston Properties
BXP
|
+$7.91M |
| 5 |
Prologis
PLD
|
+$6.96M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Kilroy Realty
KRC
|
+$15.8M |
| 2 |
SL Green Realty
SLG
|
+$15.3M |
| 3 |
Brixmor Property Group
BRX
|
+$11.4M |
| 4 |
Public Storage
PSA
|
+$6.93M |
| 5 |
Hudson Pacific Properties
HPP
|
+$6.11M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 100% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Simon Property Group
SPG
$73.9B
| $135M | 13.07% |
765,471
+80,310
| +12% | +$13.1M |
2013 Q2
4 quarters
|
|
|
2
Prologis
PLD
$121B
| $123M | 11.94% |
2,829,982
+169,200
| +6% | +$6.96M |
2013 Q2
4 quarters
|
|
|
3
SL Green Realty
SLG
$3.6B
| $104M | 10.07% |
926,226
-147,940
| -14% | -$15.3M |
2013 Q2
4 quarters
|
|
|
4
Host Hotels & Resorts
HST
$16.9B
| $86.4M | 8.37% |
3,704,087
+375,781
| +11% | +$8.09M |
2013 Q2
4 quarters
|
|
5
DELISTED
AvalonBay Communities
AVB
| $83.5M | 8.09% |
554,342
-33,255
| -6% | -$4.6M |
2013 Q2
4 quarters
|
|
|
6
Kilroy Realty
KRC
$4.17B
| $68.4M | 6.63% |
1,036,537
-261,550
| -20% | -$15.8M |
2013 Q2
4 quarters
|
|
7
Equity Lifestyle Properties
ELS
$12.3B
| $60.2M | 5.83% |
2,573,554
-155,454
| -6% | -$3.32M |
2013 Q2
4 quarters
|
|
8
Ventas
VTR
$46.9B
| $56.9M | 5.52% |
734,249
+43,960
| +6% | +$3.27M |
2013 Q4
2 quarters
|
|
9
Empire State Realty Trust
ESRT
$894M
| $47.8M | 4.63% |
2,733,125
+125,979
| +5% | +$2.02M |
2013 Q4
2 quarters
|
|
10
Federal Realty Investment Trust
FRT
$9.7B
| $33M | 3.2% |
257,716
+2,669
| +1% | +$315K |
2013 Q2
4 quarters
|
|
11
Alexandria Real Estate Equities
ARE
$7.8B
| $29.3M | 2.84% |
356,159
| – | – |
2013 Q2
4 quarters
|
|
12
Essex Property Trust
ESS
$17.5B
| $28.4M | 2.75% |
145,107
+19,700
| +16% | +$3.49M |
2013 Q2
4 quarters
|
|
13
Douglas Emmett
DEI
$1.7B
| $27.1M | 2.62% |
904,859
+22,100
| +3% | +$615K |
2013 Q4
2 quarters
|
|
|
HME
14
DELISTED
HOME PROPERTIES, INC
HME
| $26.1M | 2.53% |
385,505
+10,400
| +3% | +$641K |
2013 Q2
4 quarters
|
|
|
GGP
15
DELISTED
GGP Inc.
GGP
| $25.6M | 2.48% |
1,026,416
+44,600
| +5% | +$1.04M |
2013 Q2
4 quarters
|
|
|
16
Hudson Pacific Properties
HPP
$461M
| $25.3M | 2.45% |
134,814
-36,600
| -21% | -$6.11M |
2014 Q1
1 quarter
|
|
|
17
Terreno Realty
TRNO
$7.29B
| $18.1M | 1.75% |
882,058
+828,932
| +1,560% | +$15.6M |
2014 Q1
1 quarter
|
|
18
Macerich
MAC
$7.06B
| $16.9M | 1.64% |
239,380
+17,500
| +8% | +$1.14M |
2013 Q4
2 quarters
|
|
19
CubeSmart
CUBE
$10.1B
| $13.9M | 1.35% |
717,195
-125,900
| -15% | -$2.29M |
2013 Q2
4 quarters
|
|
20
Acadia Realty Trust
AKR
$2.74B
| $13.2M | 1.28% |
444,457
+33,600
| +8% | +$920K |
2013 Q2
4 quarters
|
|
|
21
Boston Properties
BXP
$10.4B
| $8.39M | 0.81% |
+67,000
| New | +$7.91M |
2014 Q2
0 quarters
|
|
|
22
Public Storage
PSA
$63.1B
| $1.52M | 0.15% |
8,400
-40,400
| -83% | -$6.93M |
2013 Q2
4 quarters
|
|
|
23
Brixmor Property Group
BRX
$9.21B
| – | – |
-497,554
| Closed | -$11.4M | – |
|
|
EQY
24
DELISTED
Equity One
EQY
| – | – |
-28,759
| Closed | -$693K | – |
|
Similar funds
Resolution Capital's Q2 2014 Portfolio in Review
As of Q2 2014, Resolution Capital held 24 positions worth $1.03B, up 4.7% from $986M the previous quarter. Its ten largest holdings account for 77% of the portfolio.
Resolution Capital's Q2 2014 filing shows 1 new, 13 increased, 7 reduced and 2 closed positions. Its largest new stake was Boston Properties: 67,000 shares worth $8.39M. The largest sale was Kilroy Realty, an estimated $15.8M.
By sector, the portfolio is most concentrated in Real Estate at 100% of assets, unchanged from a quarter earlier.
- Resolution Capital's largest Q2 2014 buy was Boston Properties: 67,000 shares worth $8.39M.
- Resolution Capital added most to Terreno Realty in Q2 2014, an estimated $15.6M increase.
- Resolution Capital's biggest Q2 2014 reduction was Kilroy Realty, cutting an estimated $15.8M.
- Resolution Capital fully exited Brixmor Property Group in Q2 2014, selling an estimated $11.4M.
- Resolution Capital's ten largest holdings make up 77% of its $1.03B portfolio in Q2 2014.
- Resolution Capital opened 1 new position and closed 2 in Q2 2014.
- Resolution Capital's portfolio value rose 4.7% quarter-over-quarter to $1.03B.
Based on Resolution Capital's 13F filing for Q2 2014, filed 8 Aug 2014.