Aew Capital Management L P In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 28, 2026), Aew Capital Management L P reported 39 stock positions worth $1.4 billion . Its top holding was Welltower (WELL) at 15.3% of the portfolio, followed by Prologis (PLD, 9.4% ) and Equinix (EQIX, 7.9% ). Compared with Q4 2025, it opened 4 new positions, sold out of 2, added to 12 and reduced 23. The biggest buy was Cubesmart (CUBE, shares +11319% ) and the biggest sale Mid-America Apartment Comm (MAA, shares −88% ).
Location BOSTON, MA
CIK 0001046187
Portfolio Value $1.4B (Q1 2026) Holdings 39 stocks · $1.4B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2025 WELL Welltower Inc. 1,063,905 $210.3M Add +9.3% PLD Prologis Inc. 984,575 $130.1M Add +1.2% EQIX Equinix Inc. 110,726 $108.5M Reduce -7.9% AVB Avalonbay Communities Inc. 525,343 $85.8M Reduce -5.7% DLR Digital Realty Trust Inc. 459,315 $82.8M Reduce -16.4% CUBE Cubesmart 2,121,725 $77.8M Add +11319.4% ESS Essex Property Trust Inc. 298,934 $72.3M Add +943.0% SPG Simon Property Group Inc. 386,175 $72.0M Reduce -12.0% BRX Brixmor Property Group Inc. 2,209,661 $63.6M Reduce -3.2% O Realty Income Corp. 1,020,314 $62.4M Reduce -45.4% VICI Vici Properties Inc. filed as VICI PPTYS INC 2,216,645 $60.6M New BNL Broadstone Net Lease Inc. 3,019,176 $55.2M Reduce -11.8% HIW Highwoods Properties Inc. 2,228,239 $47.7M Reduce -8.4% AMH American Homes 4 Rent- A 1,660,523 $46.4M Reduce -11.4% CURB Curbline Properties Corp. 1,771,824 $45.7M Add +24.4% LXP LXP Industrial Trust 729,011 $33.7M Reduce -37.7% PSA Public Storage 111,090 $30.1M Reduce -66.7% PEB Pebblebrook Hotel Trust 1,598,340 $20.2M New REXR Rexford Industrial Realty Inc. 399,209 $13.1M Add +7577.1% VMRK Vivmark Residential filed as EQUITY RESIDENTIAL 179,474 $10.6M Reduce -3.6% SUI Sun Communities Inc. filed as SUN CMNTYS INC 66,967 $8.4M Add +37.6% INVH Invitation Homes Inc. 332,521 $8.3M Add +17.6% MAA Mid-America Apartment Comm 55,705 $6.8M Reduce -88.5% UDR Udr Inc. 160,840 $5.4M Reduce -27.8% ELS Equity Lifestyle Properties 81,720 $5.1M Reduce -31.7% CPT Camden Property Trust 49,379 $4.8M Reduce -14.2% VTR Ventas Inc. 51,127 $4.2M Add +123.8% IRT Independence Realty Trust Inc. 245,740 $3.7M Reduce -9.5% EGP Eastgroup Properties Inc. 2,661 $493K Add +343.5% JAN Janus Living Inc. Class-A-1 19,408 $457K New AMT American Tower Corp. 2,380 $411K Reduce -97.4% VNO Vornado Realty Trust 13,156 $342K Reduce -5.9% KRC Kilroy Realty Corp. 7,033 $198K Reduce -34.8% REG Regency Centers Corp. 1,797 $136K Add +12.3% SKT Tanger Inc. 1,862 $63K Add +272.4% STAG Stag Industrial Inc. 1,552 $56K Reduce -74.6% AHR American Healthcare REIT Inc. 500 $24K New SILA Sila Realty Trust Inc. 923 $22K Reduce -48.7% LINE Lineage Inc. 550 $18K Reduce -54.2%
Other holdings (1): bonds, preferreds, convertibles and warrants · $68K (not counted above) Total filed on the 13F, all lines: $1.4B.
Portfolio Sells Q4 2025 → Q1 2026 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2025 % Of Portfolio Change To Portfolio ▲ MAA Mid-America Apartment Comm Reduce -88.5% 0.49% −4.37 PSA Public Storage Reduce -66.7% 2.18% −4.08 O Realty Income Corp. Reduce -45.4% 4.53% −3.10 CTRE Caretrust REIT Inc. Sold out 0.00% −1.84 LXP LXP Industrial Trust Reduce -37.7% 2.45% −1.75 RHP Ryman Hospitality Properties Sold out 0.00% −1.41 AMT American Tower Corp. Reduce -97.4% 0.03% −1.15 AVB Avalonbay Communities Inc. Reduce -5.7% 6.23% −1.09 HIW Highwoods Properties Inc. Reduce -8.4% 3.46% −1.08 AMH American Homes 4 Rent- A Reduce -11.4% 3.36% −0.99 SPG Simon Property Group Inc. Reduce -12.0% 5.23% −0.65 BNL Broadstone Net Lease Inc. Reduce -11.8% 4.00% −0.30 UDR Udr Inc. Reduce -27.8% 0.39% −0.20 ELS Equity Lifestyle Properties Reduce -31.7% 0.37% −0.15 DLR Digital Realty Trust Inc. Reduce -16.4% 6.01% −0.15 CPT Camden Property Trust Reduce -14.2% 0.35% −0.11 VMRK Vivmark Residential Reduce -3.6% 0.77% −0.08 IRT Independence Realty Trust Inc. Reduce -9.5% 0.27% −0.08 KRC Kilroy Realty Corp. Reduce -34.8% 0.01% −0.01 STAG Stag Industrial Inc. Reduce -74.6% 0.00% −0.01 VNO Vornado Realty Trust Reduce -5.9% 0.02% −0.01 LINE Lineage Inc. Reduce -54.2% 0.00% −0.00 SILA Sila Realty Trust Inc. Reduce -48.7% 0.00% −0.00 BRX Brixmor Property Group Inc. Reduce -3.2% 4.62% +0.29 EQIX Equinix Inc. Reduce -7.9% 7.88% +1.21
Portfolio Buys Q4 2025 → Q1 2026 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2025 % Of Portfolio Change To Portfolio ▼ CUBE Cubesmart Add +11319.4% 5.64% +5.59 ESS Essex Property Trust Inc. Add +943.0% 5.25% +4.71 VICI Vici Properties Inc. New 4.39% +4.39 WELL Welltower Inc. Add +9.3% 15.27% +2.19 PEB Pebblebrook Hotel Trust New 1.47% +1.47 REXR Rexford Industrial Realty Inc. Add +7577.1% 0.95% +0.93 CURB Curbline Properties Corp. Add +24.4% 3.32% +0.92 PLD Prologis Inc. Add +1.2% 9.44% +0.45 SUI Sun Communities Inc. Add +37.6% 0.61% +0.18 VTR Ventas Inc. Add +123.8% 0.30% +0.18 JAN Janus Living Inc. Class-A-1 New 0.03% +0.03 INVH Invitation Homes Inc. Add +17.6% 0.60% +0.03 EGP Eastgroup Properties Inc. Add +343.5% 0.04% +0.03 SKT Tanger Inc. Add +272.4% 0.00% +0.00 REG Regency Centers Corp. Add +12.3% 0.01% +0.00 AHR American Healthcare REIT Inc. New 0.00% +0.00
Notes & Other Activity Q4 2025 → Q1 2026 Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
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