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 |
Simon Property Group
SPG
|
+$67.3M |
| 2 |
Brandywine Realty Trust
BDN
|
+$36.1M |
| 3 |
Federal Realty Investment Trust
FRT
|
+$32.8M |
| 4 |
Vivmark Residential
VMRK
|
+$27.8M |
| 5 |
Host Hotels & Resorts
HST
|
+$23.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Equinix
EQIX
|
+$37.3M |
| 2 |
Ventas
VTR
|
+$23M |
| 3 |
Equity Lifestyle Properties
ELS
|
+$20.1M |
| 4 |
Digital Realty Trust
DLR
|
+$18.2M |
| 5 |
GGP
GGP Inc.
GGP
|
+$15.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 96.9% |
| 2 | Communication Services | 3.1% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Simon Property Group
SPG
$73.9B
| $272M | 12.52% |
1,689,414
+421,258
| +33% | +$67.3M |
2013 Q2
17 quarters
|
|
2
Prologis
PLD
$121B
| $190M | 8.76% |
2,998,450
-57,229
| -2% | -$3.53M |
2013 Q2
17 quarters
|
|
|
3
Equinix
EQIX
$100B
| $165M | 7.58% |
368,798
-83,269
| -18% | -$37.3M |
2015 Q4
7 quarters
|
|
4
Kilroy Realty
KRC
$4.17B
| $141M | 6.51% |
1,987,902
-153,111
| -7% | -$10.8M |
2013 Q2
17 quarters
|
|
5
Empire State Realty Trust
ESRT
$894M
| $124M | 5.72% |
6,051,122
+628,944
| +12% | +$12.9M |
2013 Q4
15 quarters
|
|
6
Alexandria Real Estate Equities
ARE
$7.8B
| $119M | 5.46% |
997,576
-97,711
| -9% | -$11.7M |
2016 Q1
6 quarters
|
|
|
7
Vivmark Residential
VMRK
$50.7B
| $95.7M | 4.4% |
1,451,609
+415,345
| +40% | +$27.8M |
2015 Q3
8 quarters
|
|
8
American Tower
AMT
$87.6B
| $95.4M | 4.39% |
697,811
-102,659
| -13% | -$14.3M |
2016 Q3
4 quarters
|
|
|
9
Equity Lifestyle Properties
ELS
$12.3B
| $94.6M | 4.36% |
2,224,566
-462,514
| -17% | -$20.1M |
2013 Q2
17 quarters
|
|
10
Essex Property Trust
ESS
$17.5B
| $91.5M | 4.21% |
360,236
+79,479
| +28% | +$20.8M |
2013 Q2
17 quarters
|
|
11
Douglas Emmett
DEI
$1.7B
| $79.6M | 3.66% |
2,018,267
+26,682
| +1% | +$1.02M |
2013 Q4
15 quarters
|
|
12
Diamondrock Hospitality Co
DRH
$2.87B
| $79.2M | 3.65% |
7,232,784
+535,876
| +8% | +$5.97M |
2014 Q3
12 quarters
|
|
|
SFR
13
DELISTED
Starwood Waypoint Homes
SFR
| $75M | 3.45% |
2,061,367
-291,424
| -12% | -$10.4M |
2017 Q1
2 quarters
|
|
|
14
Federal Realty Investment Trust
FRT
$9.7B
| $67.9M | 3.12% |
546,450
+254,705
| +87% | +$32.8M |
2017 Q1
2 quarters
|
|
|
INXN
15
DELISTED
Interxion Holding N.V.
INXN
| $67.3M | 3.1% |
1,321,253
-101,623
| -7% | -$4.96M |
2016 Q2
5 quarters
|
|
16
DELISTED
Equity Commonwealth
EQC
| $62.5M | 2.88% |
2,056,258
-52,429
| -2% | -$1.62M |
2016 Q3
4 quarters
|
|
|
ELME
17
DELISTED
Elme Communities
ELME
| $53.6M | 2.47% |
1,636,226
+20,571
| +1% | +$670K |
2016 Q3
4 quarters
|
|
|
18
Digital Realty Trust
DLR
$65.9B
| $48.1M | 2.21% |
406,576
-157,580
| -28% | -$18.2M |
2017 Q1
2 quarters
|
|
19
Regency Centers
REG
$13.7B
| $48.1M | 2.21% |
774,591
+10,734
| +1% | +$691K |
2017 Q2
1 quarter
|
|
|
20
Brandywine Realty Trust
BDN
$551M
| $37.2M | 1.71% |
+2,126,056
| New | +$36.1M |
2017 Q3
0 quarters
|
|
21
Terreno Realty
TRNO
$7.29B
| $37M | 1.7% |
1,022,608
-46,900
| -4% | -$1.65M |
2014 Q1
14 quarters
|
|
22
Boston Properties
BXP
$10.4B
| $30.9M | 1.42% |
251,806
+87,998
| +54% | +$10.7M |
2016 Q4
3 quarters
|
|
|
23
Host Hotels & Resorts
HST
$16.9B
| $24.1M | 1.11% |
+1,301,877
| New | +$23.7M |
2017 Q3
0 quarters
|
|
|
GGP
24
DELISTED
GGP Inc.
GGP
| $20.9M | 0.96% |
1,007,742
-720,385
| -42% | -$15.8M |
2013 Q2
17 quarters
|
|
|
ACC
25
DELISTED
American Campus Communities, Inc.
ACC
| $20.3M | 0.93% |
459,211
-21,420
| -4% | -$1.01M |
2016 Q1
6 quarters
|
|
Similar funds
Resolution Capital's Q3 2017 Portfolio in Review
As of Q3 2017, Resolution Capital held 29 positions worth $2.17B, up 3.9% from $2.09B the previous quarter. Its ten largest holdings account for 64% of the portfolio.
Resolution Capital's Q3 2017 filing shows 2 new, 11 increased, 14 reduced and 2 closed positions. Its largest new stake was Brandywine Realty Trust: 2,126,056 shares worth $37.2M. The largest sale was Equinix, an estimated $37.3M.
By sector, the portfolio is most concentrated in Real Estate at 97% of assets, up from 97% a quarter earlier, followed by Communication Services.
- Resolution Capital's largest Q3 2017 buy was Brandywine Realty Trust: 2,126,056 shares worth $37.2M.
- Resolution Capital added most to Simon Property Group in Q3 2017, an estimated $67.3M increase.
- Resolution Capital's biggest Q3 2017 reduction was Equinix, cutting an estimated $37.3M.
- Resolution Capital fully exited Ventas in Q3 2017, selling an estimated $23M.
- Resolution Capital's ten largest holdings make up 64% of its $2.17B portfolio in Q3 2017.
- Resolution Capital opened 2 new positions and closed 2 in Q3 2017.
- Resolution Capital's portfolio value rose 3.9% quarter-over-quarter to $2.17B.
Based on Resolution Capital's 13F filing for Q3 2017, filed 30 Oct 2017.