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 |
Alexandria Real Estate Equities
ARE
|
+$33.3M |
| 2 |
INXN
Interxion Holding N.V.
INXN
|
+$32.6M |
| 3 |
GGP
GGP Inc.
GGP
|
+$31.2M |
| 4 |
CubeSmart
CUBE
|
+$16.2M |
| 5 |
Iron Mountain
IRM
|
+$14.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vivmark Residential
VMRK
|
+$47.1M |
| 2 |
Ventas
VTR
|
+$44.6M |
| 3 |
Federal Realty Investment Trust
FRT
|
+$26.4M |
| 4 |
Urban Edge Properties
UE
|
+$18.6M |
| 5 |
Simon Property Group
SPG
|
+$16.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 97.77% |
| 2 | Communication Services | 2.23% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Simon Property Group
SPG
$73.9B
| $226M | 14.86% |
1,041,629
-82,578
| -7% | -$16.9M |
2013 Q2
12 quarters
|
|
|
GGP
2
DELISTED
GGP Inc.
GGP
| $136M | 8.92% |
4,548,827
+1,103,865
| +32% | +$31.2M |
2013 Q2
12 quarters
|
|
|
3
Ventas
VTR
$46.9B
| $124M | 8.16% |
1,702,784
-677,111
| -28% | -$44.6M |
2013 Q4
10 quarters
|
|
4
Equinix
EQIX
$100B
| $117M | 7.68% |
300,892
+27,142
| +10% | +$9.47M |
2015 Q4
2 quarters
|
|
5
Kilroy Realty
KRC
$4.17B
| $87.2M | 5.74% |
1,315,819
+166,912
| +15% | +$10.6M |
2013 Q2
12 quarters
|
|
6
Equity Lifestyle Properties
ELS
$12.3B
| $85.6M | 5.63% |
2,138,272
+214,788
| +11% | +$7.8M |
2013 Q2
12 quarters
|
|
7
Empire State Realty Trust
ESRT
$894M
| $78.7M | 5.18% |
4,145,321
+78,072
| +2% | +$1.46M |
2013 Q4
10 quarters
|
|
|
8
Vivmark Residential
VMRK
$50.7B
| $74.2M | 4.88% |
1,076,956
-685,139
| -39% | -$47.1M |
2015 Q3
3 quarters
|
|
|
9
Alexandria Real Estate Equities
ARE
$7.8B
| $73.5M | 4.83% |
709,647
+349,273
| +97% | +$33.3M |
2016 Q1
1 quarter
|
|
10
Diamondrock Hospitality Co
DRH
$2.87B
| $62.2M | 4.09% |
6,886,957
-137,750
| -2% | -$1.27M |
2014 Q3
7 quarters
|
|
|
11
Urban Edge Properties
UE
$2.58B
| $60.4M | 3.98% |
2,024,295
-695,498
| -26% | -$18.6M |
2015 Q2
4 quarters
|
|
|
12
Federal Realty Investment Trust
FRT
$9.7B
| $59.8M | 3.93% |
360,937
-169,860
| -32% | -$26.4M |
2013 Q2
12 quarters
|
|
13
Douglas Emmett
DEI
$1.7B
| $58.1M | 3.82% |
1,636,184
-247,012
| -13% | -$8.13M |
2013 Q4
10 quarters
|
|
|
14
CubeSmart
CUBE
$10.1B
| $48M | 3.16% |
1,555,035
+519,764
| +50% | +$16.2M |
2013 Q2
12 quarters
|
|
15
Acadia Realty Trust
AKR
$2.74B
| $44.9M | 2.95% |
1,264,233
+63,793
| +5% | +$2.18M |
2013 Q2
12 quarters
|
|
16
Prologis
PLD
$121B
| $37.7M | 2.48% |
768,812
+124,455
| +19% | +$5.85M |
2013 Q2
12 quarters
|
|
|
ACC
17
DELISTED
American Campus Communities, Inc.
ACC
| $37.2M | 2.45% |
704,029
+268,290
| +62% | +$12.6M |
2016 Q1
1 quarter
|
|
|
INXN
18
DELISTED
Interxion Holding N.V.
INXN
| $33.9M | 2.23% |
+920,433
| New | +$32.6M |
2016 Q2
0 quarters
|
|
19
Terreno Realty
TRNO
$7.29B
| $27.6M | 1.82% |
1,067,514
+83,245
| +8% | +$1.97M |
2014 Q1
9 quarters
|
|
|
20
Iron Mountain
IRM
$31.7B
| $15.8M | 1.04% |
+396,874
| New | +$14.4M |
2016 Q2
0 quarters
|
|
21
Essex Property Trust
ESS
$17.5B
| $14.1M | 0.93% |
61,900
-38,540
| -38% | -$8.61M |
2013 Q2
12 quarters
|
|
22
Public Storage
PSA
$63.1B
| $11.9M | 0.78% |
+46,592
| New | +$12M |
2016 Q2
0 quarters
|
|
23
Digital Realty Trust
DLR
$65.9B
| $6.85M | 0.45% |
+62,866
| New | +$5.97M |
2016 Q2
0 quarters
|
|
24
DELISTED
AvalonBay Communities
AVB
| – | – |
-9,999
| Closed | -$1.9M | – |
|
25
SL Green Realty
SLG
$3.6B
| – | – |
-76,112
| Closed | -$7.14M | – |
|
Similar funds
Resolution Capital's Q2 2016 Portfolio in Review
As of Q2 2016, Resolution Capital held 25 positions worth $1.52B, up 7.4% from $1.42B the previous quarter. Its ten largest holdings account for 70% of the portfolio.
Resolution Capital's Q2 2016 filing shows 4 new, 11 increased, 8 reduced and 2 closed positions. Its largest new stake was Interxion Holding N.V.: 920,433 shares worth $33.9M. The largest sale was Vivmark Residential, an estimated $47.1M.
By sector, the portfolio is most concentrated in Real Estate at 98% of assets, down from 100% a quarter earlier, followed by Communication Services.
- Resolution Capital's largest Q2 2016 buy was Interxion Holding N.V.: 920,433 shares worth $33.9M.
- Resolution Capital added most to Alexandria Real Estate Equities in Q2 2016, an estimated $33.3M increase.
- Resolution Capital's biggest Q2 2016 reduction was Vivmark Residential, cutting an estimated $47.1M.
- Resolution Capital fully exited SL Green Realty in Q2 2016, selling an estimated $7.14M.
- Resolution Capital's ten largest holdings make up 70% of its $1.52B portfolio in Q2 2016.
- Resolution Capital opened 4 new positions and closed 2 in Q2 2016.
- Resolution Capital's portfolio value rose 7.4% quarter-over-quarter to $1.52B.
Based on Resolution Capital's 13F filing for Q2 2016, filed 27 Jul 2016.