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“Buy land, they’re not making it anymore.” A diversified portfolio of US listed real estate that seeks to generate a yield higher than the broader equity market.

Strategy Description

“Buy land, they’re not making it anymore.” US REITs are listed real estate investments that pay high dividends and pass through their rental income to investors. They can be viewed as a hybrid between equities and bonds as they must pay out most of the income received.

Real estate, by its very nature of being a physical and limited asset provides potential inflation protection for investors.  REITs benefit from inflation in 2 ways:

  • Capital appreciation the value of properties and land owned increases
  • Rent increases regularly negotiated leases can be increased in line with inflation

The portfolio targets a diversified exposure across major real estate categories – office, retail, industrial, healthcare and specialty real estate – as well as geographically within the US and abroad. 

We score ~200 real estate names on Value, Quality, Safety, Payout, Technical and Sentiment characteristics to build a portfolio that targets a yield of ~4-5% per year. This robust quantitative scoring process ensures lesser-known but still excellent real estate companies are included. 

International investors can also access this strategy in a Global Exposure and a Japanese Exposure

Allocation Breakdown

Asset Class

Fixed Income0


Greater Europe0
Developed Asia0
Emerging Asia0
Central/Latin America0


Diversified REITs6.68%
Healthcare REITs12.11%
Industrial REITs7.09%
Office REITs11.97%
Residential REITs13.74%
Retail REITs26.86%
Specialized REITs21.02%

Top Holdings

Asset ClassWeight (%)
1. Lamar Advertising Co7.59%
2. First Industrial Realty Trust Inc7.21%
3. Spirit Realty Capital Inc7.19%
4. Essex Property Trust Inc7.07%
5. WP Carey Inc6.79%
6. Apartment Income REIT Corp6.78%
7. National Retail Properties Inc6.75%
8. Simon Property Group Inc6.67%
9. Gaming and Leisure Properties Inc6.63%
10. Crown Castle Inc6.59%