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 |
Douglas Emmett
DEI
|
+$33.1M |
| 2 |
GGP
GGP Inc.
GGP
|
+$21.6M |
| 3 |
Federal Realty Investment Trust
FRT
|
+$14.4M |
| 4 |
AvalonBay Communities
AVB
|
+$13M |
| 5 |
Vivmark Residential
VMRK
|
+$11.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SITE Centers
SITC
|
+$37.6M |
| 2 |
HME
HOME PROPERTIES, INC
HME
|
+$24.4M |
| 3 |
Host Hotels & Resorts
HST
|
+$9.6M |
| 4 |
SL Green Realty
SLG
|
+$9.28M |
| 5 |
Prologis
PLD
|
+$9.07M |
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
$75.1B
| $191M | 16.16% |
1,040,701
-20,389
| -2% | -$3.74M |
2013 Q2
9 quarters
|
|
|
2
DELISTED
AvalonBay Communities
AVB
| $180M | 15.23% |
1,030,851
+76,607
| +8% | +$13M |
2013 Q2
9 quarters
|
|
|
GGP
3
DELISTED
GGP Inc.
GGP
| $101M | 8.57% |
3,906,304
+822,957
| +27% | +$21.6M |
2013 Q2
9 quarters
|
|
|
4
SL Green Realty
SLG
$3.48B
| $80.7M | 6.82% |
770,589
-86,448
| -10% | -$9.28M |
2013 Q2
9 quarters
|
|
5
Empire State Realty Trust
ESRT
$839M
| $79M | 6.68% |
4,639,706
+248,270
| +6% | +$4.27M |
2013 Q4
7 quarters
|
|
|
6
Federal Realty Investment Trust
FRT
$9.7B
| $78.5M | 6.64% |
575,319
+108,186
| +23% | +$14.4M |
2013 Q2
9 quarters
|
|
7
Equity Lifestyle Properties
ELS
$12.1B
| $78.1M | 6.6% |
2,666,860
-98,522
| -4% | -$2.8M |
2013 Q2
9 quarters
|
|
8
Diamondrock Hospitality Co
DRH
$2.95B
| $52.3M | 4.42% |
4,732,296
-108
| -0% | -$1.33K |
2014 Q3
4 quarters
|
|
|
9
Douglas Emmett
DEI
$1.66B
| $47.4M | 4% |
1,649,195
+1,143,000
| +226% | +$33.1M |
2013 Q4
7 quarters
|
|
|
10
Prologis
PLD
$122B
| $47.1M | 3.98% |
1,211,005
-231,900
| -16% | -$9.07M |
2013 Q2
9 quarters
|
|
11
Essex Property Trust
ESS
$17.6B
| $46.4M | 3.92% |
207,464
+7,445
| +4% | +$1.64M |
2013 Q2
9 quarters
|
|
12
Kilroy Realty
KRC
$4.19B
| $36.7M | 3.1% |
563,107
-129,736
| -19% | -$8.88M |
2013 Q2
9 quarters
|
|
13
Terreno Realty
TRNO
$7.35B
| $31.3M | 2.65% |
1,594,519
-65,463
| -4% | -$1.34M |
2014 Q1
6 quarters
|
|
|
14
Host Hotels & Resorts
HST
$17.5B
| $24.4M | 2.06% |
1,541,471
-513,843
| -25% | -$9.6M |
2013 Q2
9 quarters
|
|
|
15
SITE Centers
SITC
$34.5M
| $21.9M | 1.85% |
1,103,830
-1,846,900
| -63% | -$37.6M |
2014 Q4
3 quarters
|
|
16
Acadia Realty Trust
AKR
$2.79B
| $21.7M | 1.83% |
720,769
-108,652
| -13% | -$3.34M |
2013 Q2
9 quarters
|
|
17
CubeSmart
CUBE
$10B
| $14.7M | 1.25% |
541,576
-2,500
| -0.5% | -$63.9K |
2013 Q2
9 quarters
|
|
18
Ventas
VTR
$47B
| $13.6M | 1.15% |
243,459
+86,493
| +55% | +$5.68M |
2013 Q4
7 quarters
|
|
19
Urban Edge Properties
UE
$2.63B
| $12.7M | 1.07% |
588,260
+252,900
| +75% | +$5.41M |
2015 Q2
1 quarter
|
|
|
HME
20
DELISTED
HOME PROPERTIES, INC
HME
| $12M | 1.01% |
160,504
-329,849
| -67% | -$24.4M |
2013 Q2
9 quarters
|
|
|
21
Vivmark Residential
VMRK
$49.8B
| $11.8M | 1% |
+157,340
| New | +$11.6M |
2015 Q3
0 quarters
|
|
Similar funds
Resolution Capital's Q3 2015 Portfolio in Review
As of Q3 2015, Resolution Capital held 21 positions worth $1.18B, up 2.6% from $1.15B the previous quarter. Its ten largest holdings account for 79% of the portfolio.
Trading was light in Q3 2015: portfolio turnover was 4.8%. Resolution Capital opened 1 new position and made no exits, leaving the 21-position portfolio largely intact.
By sector, the portfolio is most concentrated in Real Estate at 100% of assets, unchanged from a quarter earlier.
- Resolution Capital's largest Q3 2015 buy was Vivmark Residential: 157,340 shares worth $11.8M.
- Resolution Capital added most to Douglas Emmett in Q3 2015, an estimated $33.1M increase.
- Resolution Capital's biggest Q3 2015 reduction was SITE Centers, cutting an estimated $37.6M.
- Resolution Capital's ten largest holdings make up 79% of its $1.18B portfolio in Q3 2015.
- Resolution Capital opened 1 new position and closed 0 in Q3 2015.
- Resolution Capital's portfolio value rose 2.6% quarter-over-quarter to $1.18B.
Based on Resolution Capital's 13F filing for Q3 2015, filed 4 Nov 2015.