Aew Capital Management L P
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 10, 2025), Aew Capital Management L P reported 43 stock positions worth $1.8 billion. Its top holding was Welltower (WELL) at 12.0% of the portfolio, followed by Avalonbay Communities (AVB, 7.4%) and Realty Income (O, 7.2%). Compared with Q2 2025, it opened 1 new position, sold out of 6, added to 17 and reduced 25. The biggest buy was Simon Property (SPG, shares +91%) and the biggest sale Prologis (PLD, shares −35%).
- Most Recent 13F
- Q2 2026
- Location
- BOSTON, MA
- CIK
- 0001046187
- Portfolio Value
- $1.8B (Q3 2025)
- SEC Filing
- 0001104659-25-109304 ↗ filed Nov 10, 2025
Holdings Value
Holdings 43 stocks · $1.8B
| WELL Welltower Inc. | 11.96% | 1,205,060 | $214.7M | Reduce -6.1% |
| AVB Avalonbay Communities Inc. | 7.37% | 684,898 | $132.3M | Add +33.5% |
| O Realty Income Corp. | 7.24% | 2,139,078 | $130.0M | Add +44.5% |
| PLD Prologis Inc. | 7.09% | 1,112,083 | $127.4M | Reduce -34.7% |
| EQIX Equinix Inc. | 6.83% | 156,531 | $122.6M | Reduce -14.8% |
| PSA Public Storage | 6.63% | 412,340 | $119.1M | Add +0.1% |
| DLR Digital Realty Trust Inc. | 6.32% | 655,925 | $113.4M | Reduce -16.3% |
| SPG Simon Property Group Inc. | 5.54% | 530,155 | $99.5M | Add +91.0% |
| MAA Mid-America Apartment Comm | 4.81% | 617,474 | $86.3M | Add +21.1% |
| LXP LXP Industrial Trust | 4.56% | 9,135,734 | $81.9M | Add +61.1% |
| BRX Brixmor Property Group Inc. | 4.44% | 2,882,414 | $79.8M | Add +75.6% |
| HIW Highwoods Properties Inc. | 4.16% | 2,344,571 | $74.6M | Add +95.5% |
| AMH American Homes 4 Rent- A | 3.82% | 2,064,622 | $68.6M | Add +56.0% |
| BNL Broadstone Net Lease Inc. | 3.63% | 3,644,233 | $65.1M | Add +44.5% |
| CTRE Caretrust REIT Inc. | 2.12% | 1,097,481 | $38.1M | Add +42.0% |
| CURB Curbline Properties Corp. | 1.92% | 1,547,924 | $34.5M | Add +111.2% |
| IRM Iron Mountain Inc. filed as IRON MTN INC DEL | 1.79% | 315,257 | $32.1M | Reduce -49.1% |
| RHP Ryman Hospitality Properties | 1.55% | 311,564 | $27.9M | Add +65.0% |
| AMT American Tower Corp. | 0.68% | 63,110 | $12.1M | New |
| VMRK Vivmark Residential filed as EQUITY RESIDENTIAL | 0.65% | 181,420 | $11.7M | Reduce -53.6% |
| IRT Independence Realty Trust Inc. | 0.55% | 603,967 | $9.9M | Reduce -68.7% |
| MAC The Macerich Co. | 0.53% | 526,746 | $9.6M | Reduce -67.4% |
| GLPI Gaming and Leisure Propertie | 0.51% | 194,982 | $9.1M | Reduce -76.4% |
| KRG Kite Realty Group Trust | 0.51% | 407,520 | $9.1M | Reduce -61.0% |
| VNO Vornado Realty Trust | 0.49% | 215,560 | $8.7M | Reduce -56.5% |
| PECO Phillips Edison & Company Inc. | 0.48% | 249,810 | $8.6M | Reduce -50.4% |
| KRC Kilroy Realty Corp. | 0.47% | 200,537 | $8.5M | Reduce -56.0% |
| INVH Invitation Homes Inc. | 0.46% | 281,960 | $8.3M | Reduce -55.9% |
| UDR Udr Inc. | 0.46% | 219,300 | $8.2M | Reduce -54.1% |
| VTR Ventas Inc. | 0.43% | 110,560 | $7.7M | Reduce -85.7% |
| ELS Equity Lifestyle Properties | 0.43% | 126,810 | $7.7M | Reduce -28.0% |
| ESS Essex Property Trust Inc. | 0.43% | 28,660 | $7.7M | Reduce -53.1% |
| SUI Sun Communities Inc. filed as SUN CMNTYS INC | 0.38% | 53,350 | $6.9M | Reduce -74.0% |
| CUBE Cubesmart | 0.32% | 141,870 | $5.8M | Reduce -78.5% |
| CPT Camden Property Trust | 0.32% | 53,150 | $5.7M | Reduce -61.3% |
| HR Healthcare Realty Trust Inc. | 0.08% | 80,110 | $1.4M | Reduce -91.3% |
| AIV Apartment Invt & Mgmt Co. Class A | 0.02% | 55,610 | $441K | Reduce -96.7% |
| STAG Stag Industrial Inc. | 0.01% | 4,300 | $152K | Add +19.4% |
| EGP Eastgroup Properties Inc. | 0.01% | 800 | $135K | Reduce -99.1% |
| REG Regency Centers Corp. | 0.01% | 1,800 | $131K | Add +20.0% |
| REXR Rexford Industrial Realty Inc. | 0.00% | 1,500 | $62K | Reduce -98.8% |
| SKT Tanger Inc. | 0.00% | 1,300 | $44K | Add +18.2% |
| ADC Agree Realty Corp. | 0.00% | 500 | $36K | Add +25.0% |
Portfolio Sells Q2 2025 → Q3 2025
| PLD Prologis Inc. | Reduce -34.7% | 7.09% | −2.33 |
| VTR Ventas Inc. | Reduce -85.7% | 0.43% | −2.14 |
| IRM Iron Mountain Inc. | Reduce -49.1% | 1.79% | −1.56 |
| GLPI Gaming and Leisure Propertie | Reduce -76.4% | 0.51% | −1.52 |
| IRT Independence Realty Trust Inc. | Reduce -68.7% | 0.55% | −1.25 |
| CUBE Cubesmart | Reduce -78.5% | 0.32% | −1.15 |
| EXR Extra Space Storage Inc. | Sold out | 0.00% | −1.12 |
| SUI Sun Communities Inc. | Reduce -74.0% | 0.38% | −0.98 |
| DLR Digital Realty Trust Inc. | Reduce -16.3% | 6.32% | −0.87 |
| EQIX Equinix Inc. | Reduce -14.8% | 6.83% | −0.87 |
| MAC The Macerich Co. | Reduce -67.4% | 0.53% | −0.84 |
| EGP Eastgroup Properties Inc. | Reduce -99.1% | 0.01% | −0.79 |
| AIV Apartment Invt & Mgmt Co. Class A | Reduce -96.7% | 0.02% | −0.75 |
| KRG Kite Realty Group Trust | Reduce -61.0% | 0.51% | −0.74 |
| VMRK Vivmark Residential | Reduce -53.6% | 0.65% | −0.74 |
| HR Healthcare Realty Trust Inc. | Reduce -91.3% | 0.08% | −0.69 |
| INVH Invitation Homes Inc. | Reduce -55.9% | 0.46% | −0.64 |
| UDR Udr Inc. | Reduce -54.1% | 0.46% | −0.57 |
| VNO Vornado Realty Trust | Reduce -56.5% | 0.49% | −0.51 |
| CPT Camden Property Trust | Reduce -61.3% | 0.32% | −0.50 |
| ESS Essex Property Trust Inc. | Reduce -53.1% | 0.43% | −0.48 |
| PECO Phillips Edison & Company Inc. | Reduce -50.4% | 0.48% | −0.45 |
| KRC Kilroy Realty Corp. | Reduce -56.0% | 0.47% | −0.35 |
| VICI Vici Properties Inc. | Sold out | 0.00% | −0.31 |
| REXR Rexford Industrial Realty Inc. | Reduce -98.8% | 0.00% | −0.22 |
| WPC WP Carey Inc. | Sold out | 0.00% | −0.20 |
| ELS Equity Lifestyle Properties | Reduce -28.0% | 0.43% | −0.14 |
| DOC Healthpeak Properties Inc. | Sold out | 0.00% | −0.12 |
| ARE Alexandria Real Estate Equit | Sold out | 0.00% | −0.11 |
| XRN Global Medical REIT Inc. | Sold out | 0.00% | −0.01 |
| WELL Welltower Inc. | Reduce -6.1% | 11.96% | +1.57 |
Portfolio Buys Q2 2025 → Q3 2025
| SPG Simon Property Group Inc. | Add +91.0% | 5.54% | +3.19 |
| O Realty Income Corp. | Add +44.5% | 7.24% | +2.75 |
| BRX Brixmor Property Group Inc. | Add +75.6% | 4.44% | +2.19 |
| HIW Highwoods Properties Inc. | Add +95.5% | 4.16% | +2.19 |
| LXP LXP Industrial Trust | Add +61.1% | 4.56% | +2.09 |
| AVB Avalonbay Communities Inc. | Add +33.5% | 7.37% | +1.87 |
| BNL Broadstone Net Lease Inc. | Add +44.5% | 3.63% | +1.50 |
| AMH American Homes 4 Rent- A | Add +56.0% | 3.82% | +1.31 |
| CURB Curbline Properties Corp. | Add +111.2% | 1.92% | +1.04 |
| CTRE Caretrust REIT Inc. | Add +42.0% | 2.12% | +0.87 |
| MAA Mid-America Apartment Comm | Add +21.1% | 4.81% | +0.83 |
| AMT American Tower Corp. | New | 0.68% | +0.68 |
| RHP Ryman Hospitality Properties | Add +65.0% | 1.55% | +0.57 |
| PSA Public Storage | Add +0.1% | 6.63% | +0.27 |
| REG Regency Centers Corp. | Add +20.0% | 0.01% | +0.00 |
| STAG Stag Industrial Inc. | Add +19.4% | 0.01% | +0.00 |
| SKT Tanger Inc. | Add +18.2% | 0.00% | +0.00 |
| ADC Agree Realty Corp. | Add +25.0% | 0.00% | +0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 38 | $1.7B | WELL, PLD, EQIX, AVB, SPG |
| Q1 2026 | 39 | $1.4B | WELL, PLD, EQIX, AVB, DLR |
| Q4 2025 | 37 | $1.4B | WELL, PLD, O, AVB, EQIX |
| Q3 2025 | 43 | $1.8B | WELL, AVB, O, PLD, EQIX |
| Q2 2025 | 48 | $1.9B | WELL, PLD, EQIX, DLR, PSA |
| Q1 2025 | 48 | $2.0B | WELL, PLD, EQIX, PSA, AVB |
| Q4 2024 | 47 | $2.1B | EQIX, PLD, WELL, DLR, PSA |
| Q3 2024 | 48 | $2.3B | PLD, EQIX, WELL, AVB, DLR |
| Q2 2024 | 45 | $2.1B | PLD, EQIX, WELL, AVB, DLR |
| Q1 2024 | 46 | $2.1B | PLD, EQIX, WELL, AVB, VICI |