HEITMAN REAL ESTATE SECURITIES LLC

CIK 0001080117 · Q1 2026

13F Equity AUM

$1.4B

-2.1% QoQ

Positions

+3 QoQ

AUM Rank

#2,260

Top 18%

Skill Alpha (FF)

-3.3%/yr^ns

No Clear Edge

Rank #6,532 · Top 79%

vs S&P -11.6%/yr (unadj.)

Quarters Tracked

~14 years

Portfolio Concentration

Top 5: 40.3%Top 10: 57.4%Top 20: 77.0%

WELL11.6%

EQIX9.7%

PLD9.3%

O5.2%

SPG4.4%

VEN4.2%

EQR3.8%

FQI3.6%

EXR3.0%

FR2.5%

Others (47)42.6%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Real Estate98.5%

Other1.5%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 57Median: 1.06%Avg: 1.75%

0–0.5%

19(3.3%)

0.5–1%

8(6.7%)

1–3%

21(35.1%)

3–5%

5(19.1%)

5%+

4(35.9%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 57Unique: 0vs 20 funds

0.8%Low

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

BlackRock, Inc.

1.4%

VANGUARD CAPITAL MANAGEMENT LLC

1.7%

VANGUARD PORTFOLIO MANAGEMENT LLC

MORGAN STANLEY

1.1%

JPMORGAN CHASE & CO

1.2%

BANK OF AMERICA CORP /DE/

1.2%

STATE STREET CORP

1.6%

GEODE CAPITAL MANAGEMENT, LLC

1.6%

FMR LLC

1.7%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New8Increased22Decreased25Exited5

New Positions

DRH1.8%

+2.7M

MAC1.5%

+1.1M

CURB1.2%

+661K

VICI1.2%

+618K

JANUS LIVING INC1.1%

+624K

XHR0.8%

+794K

8CW0.5%

+77K

UE0.3%

+221K

Increased

O5.2%

+450K(+61%)

NTST2.3%

+315K(+23%)

DOC1.9%

+212K(+15%)

EXR3.0%

+165K(+107%)

FRT1.2%

+155K(+4004%)

EQR3.8%

+121K(+16%)

SUI1.6%

+101K(+141%)

FR2.5%

+77K(+15%)

WPC0.5%

+55K(+150%)

FQI3.6%

+53K(+23%)

Decreased

AKR1.8%

-718,282(-35%)

GLPI0.5%

-434,412(-75%)

INVH1.3%

-423,300(-36%)

CUBE1.4%

-294,307(-35%)

IRM1.9%

-230,954(-47%)

STAG1.8%

-227,591(-25%)

ADC0.9%

-192,538(-55%)

COLDEUR0.5%

-184,099(-23%)

VEN4.2%

-168,573(-19%)

MAA2.0%

-155,274(-41%)

Exited

BRX

-1,849,851

RHP

-364,735

BNLEUR

-1,289,541

-667,204

FCPT

-72,097

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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