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 |
Vivmark Residential
VMRK
|
+$58.5M |
| 2 |
Regency Centers
REG
|
+$48.2M |
| 3 |
Simon Property Group
SPG
|
+$42.1M |
| 4 |
SFR
Starwood Waypoint Homes
SFR
|
+$37.2M |
| 5 |
Alexandria Real Estate Equities
ARE
|
+$27.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
GGP
GGP Inc.
GGP
|
+$52.9M |
| 2 |
Equinix
EQIX
|
+$36M |
| 3 |
Brixmor Property Group
BRX
|
+$27.9M |
| 4 |
Public Storage
PSA
|
+$27.4M |
| 5 |
Prologis
PLD
|
+$22.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 96.89% |
| 2 | Communication Services | 3.11% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Simon Property Group
SPG
$73.9B
| $205M | 9.81% |
1,268,156
+258,830
| +26% | +$42.1M |
2013 Q2
16 quarters
|
|
|
2
Equinix
EQIX
$100B
| $194M | 9.28% |
452,067
-85,016
| -16% | -$36M |
2015 Q4
6 quarters
|
|
|
3
Prologis
PLD
$121B
| $179M | 8.57% |
3,055,679
-399,750
| -12% | -$22.3M |
2013 Q2
16 quarters
|
|
4
Kilroy Realty
KRC
$4.17B
| $161M | 7.69% |
2,141,013
+327,490
| +18% | +$24.1M |
2013 Q2
16 quarters
|
|
|
5
Alexandria Real Estate Equities
ARE
$7.8B
| $132M | 6.31% |
1,095,287
+237,288
| +28% | +$27.6M |
2016 Q1
5 quarters
|
|
6
Equity Lifestyle Properties
ELS
$12.3B
| $116M | 5.55% |
2,687,080
-89,988
| -3% | -$3.74M |
2013 Q2
16 quarters
|
|
7
Empire State Realty Trust
ESRT
$894M
| $113M | 5.39% |
5,422,178
-256,100
| -5% | -$5.39M |
2013 Q4
14 quarters
|
|
8
American Tower
AMT
$87.6B
| $106M | 5.06% |
800,470
+78,645
| +11% | +$10.1M |
2016 Q3
3 quarters
|
|
|
SFR
9
DELISTED
Starwood Waypoint Homes
SFR
| $80.7M | 3.86% |
2,352,791
+1,079,144
| +85% | +$37.2M |
2017 Q1
1 quarter
|
|
10
Douglas Emmett
DEI
$1.7B
| $76.1M | 3.64% |
1,991,585
-700
| -0% | -$27K |
2013 Q4
14 quarters
|
|
11
Diamondrock Hospitality Co
DRH
$2.87B
| $73.3M | 3.51% |
6,696,908
+149,100
| +2% | +$1.67M |
2014 Q3
11 quarters
|
|
12
Essex Property Trust
ESS
$17.5B
| $72.2M | 3.45% |
280,757
-11,420
| -4% | -$2.87M |
2013 Q2
16 quarters
|
|
|
13
Vivmark Residential
VMRK
$50.7B
| $68.2M | 3.26% |
1,036,264
+895,464
| +636% | +$58.5M |
2015 Q3
7 quarters
|
|
14
DELISTED
Equity Commonwealth
EQC
| $66.6M | 3.19% |
2,108,687
-407,800
| -16% | -$12.9M |
2016 Q3
3 quarters
|
|
|
INXN
15
DELISTED
Interxion Holding N.V.
INXN
| $65.1M | 3.11% |
1,422,876
+28,000
| +2% | +$1.21M |
2016 Q2
4 quarters
|
|
16
Digital Realty Trust
DLR
$65.9B
| $63.7M | 3.05% |
564,156
+41,322
| +8% | +$4.73M |
2017 Q1
1 quarter
|
|
|
ELME
17
DELISTED
Elme Communities
ELME
| $51.5M | 2.46% |
1,615,655
-401,400
| -20% | -$12.9M |
2016 Q3
3 quarters
|
|
|
18
Regency Centers
REG
$13.7B
| $47.8M | 2.29% |
+763,857
| New | +$48.2M |
2017 Q2
0 quarters
|
|
|
GGP
19
DELISTED
GGP Inc.
GGP
| $40.7M | 1.95% |
1,728,127
-2,296,729
| -57% | -$52.9M |
2013 Q2
16 quarters
|
|
20
Federal Realty Investment Trust
FRT
$9.7B
| $36.9M | 1.76% |
291,745
+110,280
| +61% | +$14.2M |
2017 Q1
1 quarter
|
|
21
Terreno Realty
TRNO
$7.29B
| $36M | 1.72% |
1,069,508
-316,473
| -23% | -$10M |
2014 Q1
13 quarters
|
|
22
Ventas
VTR
$46.9B
| $23M | 1.1% |
331,688
-332,128
| -50% | -$22.1M |
2013 Q4
14 quarters
|
|
|
ACC
23
DELISTED
American Campus Communities, Inc.
ACC
| $22.7M | 1.09% |
480,631
-244,188
| -34% | -$11.6M |
2016 Q1
5 quarters
|
|
24
Boston Properties
BXP
$10.4B
| $20.2M | 0.96% |
163,808
-163,764
| -50% | -$20.7M |
2016 Q4
2 quarters
|
|
25
Acadia Realty Trust
AKR
$2.74B
| $15.1M | 0.72% |
542,990
-47,049
| -8% | -$1.35M |
2013 Q2
16 quarters
|
|
Similar funds
Resolution Capital's Q2 2017 Portfolio in Review
As of Q2 2017, Resolution Capital held 29 positions worth $2.09B, up 4.2% from $2.01B the previous quarter. Its ten largest holdings account for 65% of the portfolio.
Resolution Capital's Q2 2017 filing shows 2 new, 10 increased, 15 reduced and 2 closed positions. Its largest new stake was Regency Centers: 763,857 shares worth $47.8M. The largest sale was GGP Inc., an estimated $52.9M.
By sector, the portfolio is most concentrated in Real Estate at 97% of assets, down from 97% a quarter earlier, followed by Communication Services.
- Resolution Capital's largest Q2 2017 buy was Regency Centers: 763,857 shares worth $47.8M.
- Resolution Capital added most to Vivmark Residential in Q2 2017, an estimated $58.5M increase.
- Resolution Capital's biggest Q2 2017 reduction was GGP Inc., cutting an estimated $52.9M.
- Resolution Capital fully exited Brixmor Property Group in Q2 2017, selling an estimated $27.9M.
- Resolution Capital's ten largest holdings make up 65% of its $2.09B portfolio in Q2 2017.
- Resolution Capital opened 2 new positions and closed 2 in Q2 2017.
- Resolution Capital's portfolio value rose 4.2% quarter-over-quarter to $2.09B.
Based on Resolution Capital's 13F filing for Q2 2017, filed 27 Jul 2017.