13F
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CENTERSQUARE INVESTMENT MANAGEMENT LLC

13F equity value
$9.7B
Positions
79
Top 10 concentration
54.0%
Quarters / total new picks
29 / 204
13F equity value over time
$0M$6B$11B201820192020202120222023202420252026

"13F equity value" = market value of this filer's US-listed long equity positions only. It excludes cash, bonds, non-US and short positions, so it understates a fund's true assets under management — often by a lot.

Not significant Verdict

13F holdings are disclosed ~45 days after quarter-end, and they never reveal when within the quarter a fund actually bought. So any 13F-based summary is structurally late and blurred — this applies to every fund, including this one.

We backtested copying it anyway. Buying this fund's new positions the day each filing went public, over 29 quarters, returned +0.3% per quarter — versus +2.6% per quarter from simply owning every 13F stock. It beat that baseline in only 31.0% of quarters (excess t = -1.66, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
-4.1%
t-stat
-1.66
Quarterly win rate
31%
Annualized excess
-10.8%
$1 → follow vs universe
$0.88 vs $1.86
Cumulative return: $1 invested in new picks vs universe
1.00 20180630: universe 0.92120180930: universe 0.96320181231: universe 0.95320190331: universe 0.93720190630: universe 1.00720190930: universe 1.08320191231: universe 0.87320200331: universe 1.05320200630: universe 1.16320200930: universe 1.42720210331: universe 1.43920210630: universe 1.55520210930: universe 1.39520211231: universe 1.18720220331: universe 1.27520220630: universe 1.18120220930: universe 1.26920221231: universe 1.17820230331: universe 1.24220230630: universe 1.19720230930: universe 1.35920231231: universe 1.42020240331: universe 1.45220240630: universe 1.58320240930: universe 1.57020241231: universe 1.46520250331: universe 1.59720250930: universe 1.79620251231: universe 1.858 20180630: follow 0.97220180930: follow 1.01920181231: follow 1.04420190331: follow 1.02920190630: follow 1.05920190930: follow 1.13420191231: follow 0.67020200331: follow 0.70020200630: follow 0.76620200930: follow 0.82020210331: follow 0.78320210630: follow 0.74920210930: follow 0.69520211231: follow 0.57920220331: follow 0.59420220630: follow 0.52920220930: follow 0.53620221231: follow 0.49120230331: follow 0.49020230630: follow 0.47920230930: follow 0.52620231231: follow 0.66220240331: follow 0.65120240630: follow 0.77020240930: follow 0.76320241231: follow 0.68020250331: follow 0.73220250930: follow 0.85220251231: follow 0.874 0.44 1.22 2.01 20182019202020212022202320242025 Follow Universe

Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)

Listed as facts. See the verdict above before treating this as signal.

Top 20 holdings of 79 · 2026 Q1

Ticker Value Weight QoQ
WELL $1.0B
10.7%
TRIM
PLD $823M
8.5%
TRIM
EQIX $807M
8.3%
TRIM
DLR $552M
5.7%
TRIM
VTR $485M
5.0%
TRIM
EXR $328M
3.4%
TRIM
PSA $326M
3.4%
TRIM
BRX $319M
3.3%
TRIM
UDR $283M
2.9%
TRIM
SPG $261M
2.7%
TRIM
CPT $259M
2.7%
TRIM
ADC $259M
2.7%
ADD
FR $249M
2.6%
ADD
O $242M
2.5%
TRIM
KIM $236M
2.4%
TRIM
IRM $236M
2.4%
TRIM
KRG $194M
2.0%
TRIM
INVH $185M
1.9%
ADD
AMH $167M
1.7%
TRIM
ELS $141M
1.5%
TRIM

QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.

Listed as facts. See the verdict above before treating this as signal.

New positions in 2026 Q1

CUBELTCWPC

Method & Limitations

Method: a "new position" = held this quarter, absent last quarter (options excluded; stocks with <50 prior holders excluded to filter spin-off artifacts). Entry 47 days after quarter-end — the first day the public could act on the filing. Benchmark = equal-weighted universe of all 13F-held stocks. Limitations: quarterly snapshots can't see intra-quarter trades; survivorship bias — funds that shut down are absent, which flatters the sample. Statistics, not advice.