CIK: 0001512440
Total reported value
$14.7B
Reporting period: 2016-09-30 · Number of holdings: 881
Shinko Asset Management Co., Ltd. disclosed 881 holdings in its latest 13F filing for the period ending 2016-09-30, with total reported value of $14.7B and a quarterly turnover rate of 20.1%.
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Shinko Asset Management Co., Ltd.'s disclosed holdings carry a Herfindahl concentration index of 0.022 — mathematically equivalent to about 45 equally-sized positions, well below its 881 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 4.32), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 1% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim O
-32.7% -$172.7M
Add SLG2EUR
+163.5% $130.5M
Add EXR
+169.3% $127.7M
Add LAMR
+47391.3% $111.7M
Add DOC
+19.8% $120.9M
Trim MAA
-15.9% -$86.5M
Shinko executes a precise barbell rotation within real estate, selling legacy retail and multi-family REITs while aggressively adding healthcare and self-storage credits. With 881 holdings and an HHI near zero, the fund operates as a broad-based capital allocator rather than a concentrated alpha hunter.
The flow prices in a structural shift from cyclical apartment exposure to necessity-lease healthcare assets, fully exiting Costco to hedge against consumption deceleration. The opposing thesis argues that holding over 50% in information technology and communications services leaves the portfolio exposed to a growth deceleration spike, where liquidity drying up across the long tail will crush valuation multiples.
Extreme fragmentation creates execution drag and alpha leakage; as positions trade sideways, price-driven weight drift silently dilutes active conviction. Management’s hands are tied by passive index beta masquerading as high-conviction positioning, leaving the book vulnerable to a sustained risk-off environment where narrow leadership stocks detach from the remainder of the holdings.
This narrative is produced by AI from publicly available filings and describes past activity only — it is informational, not investment advice.
Showing top 200 holdings (of 881 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | SPG | Simon Property Group INC | Stock-Real Estate | 7.39% | — | +4.09% | |
| 2 | CCI | Crown Castle INC | Stock-Real Estate | 4.46% | +0.23% | +17.46% | |
| 3 | WY | Weyerhaeuser Co | Stock-Real Estate | 4.09% | +0.09% | -1.35% | |
| 4 | DOC | Healthpeak Properties, Inc. | Stock-Real Estate | 3.69% | +0.72% | +19.83% | |
| 5 | PLD | Prologis INC | Stock-Real Estate | 3.37% | -0.32% | -13.42% | |
| 6 | VNO | Vornado Realty Trust | Stock-Real Estate | 2.83% | +0.07% | +4.79% | |
| 7 | AMT | American Tower CORP | Stock-Real Estate | 2.69% | +0.05% | +5.78% | |
| 8 | AVB | Avalonbay Communities INC | Stock-Real Estate | 2.64% | — | +0.02% | |
| 9 | PSA | Public Storage | Stock-Real Estate | 2.55% | -0.48% | -0.04% | |
| 10 | BXP | Bxp INC | Stock-Real Estate | 2.41% | -0.25% | -9.18% | |
| 11 | O | Realty Income CORP | Stock-Real Estate | 2.17% | -1.28% | -32.75% | |
| 12 | EQIX | Equinix INC | Stock-Real Estate | 2.01% | — | +12.25% | |
| 13 | NNN | Nnn Reit INC | Stock-Real Estate | 1.90% | +0.26% | +21.42% | |
| 14 | LPTUSD | Liberty Property Trust | Stock-Other | 1.80% | — | -0.01% | |
| 15 | ESS | Essex Property Trust INC | Stock-Real Estate | 1.73% | +0.43% | +41.52% | |
| 16 | MAA | Mid-america Apartment Comm | Stock-Real Estate | 1.70% | -0.67% | -15.87% | |
| 17 | FRTEUR | Federal Realty Invs Trust | Stock-Other | 1.64% | -0.45% | -12.62% | |
| 18 | EPR | Epr Properties | Stock-Real Estate | 1.59% | — | +0.02% | |
| 19 | WELL | Welltower INC | Stock-Real Estate | 1.59% | — | +0.01% | |
| 20 | EQR | Equity Residential | Stock-Real Estate | 1.53% | — | +8.05% | |
| 21 | EXR | Extra Space Storage INC | Stock-Real Estate | 1.53% | +0.85% | +169.30% | |
| 22 | ✓ | Ddr CORP Com | Stock-Other | 1.48% | +0.16% | +21.48% | |
| 23 | DLR | Digital Realty Trust INC | Stock-Real Estate | 1.46% | -0.35% | -5.97% | |
| 24 | HST | Host Hotels & Resorts INC | Stock-Real Estate | 1.46% | -0.40% | -15.44% | |
| 25 | ACCUSD | American Campus Communities | Stock-Other | 1.43% | -0.39% | -15.74% | |
| 26 | WRI | Weingarten Realty Investors | Stock-Other | 1.42% | — | +0.02% | |
| 27 | SLG2EUR | Sl Green Realty CORP | Stock-Other | 1.41% | +0.86% | +163.45% | |
| 28 | VTR | Ventas INC | Stock-Real Estate | 1.32% | +0.19% | +24.60% | |
| 29 | BRX | Brixmor Property Group INC | Stock-Real Estate | 1.32% | +0.35% | +33.30% | |
| 30 | OHI | Omega Healthcare Investors | Stock-Real Estate | 1.31% | +0.20% | +17.65% | |
| 31 | APLE | Apple Hospitality Reit INC | Stock-Real Estate | 1.17% | +0.15% | +20.84% | |
| 32 | CPT | Camden Property Trust | Stock-Real Estate | 1.14% | -0.43% | -20.31% | |
| 33 | MAC | Macerich Co/the | Stock-Other | 1.11% | — | +0.01% | |
| 34 | KIM | Kimco Realty CORP | Stock-Real Estate | 1.04% | -0.44% | -21.16% | |
| 35 | HRUSD | Healthcare Realty Trust INC | Stock-Other | 1.04% | — | -4.53% | |
| 36 | PDM | Piedmont Realty Trust INC | Stock-Other | 0.93% | — | +0.01% | |
| 37 | BDN | Brandywine Realty Trust | Stock-Other | 0.87% | — | +4.45% | |
| 38 | KRC | Kilroy Realty CORP | Stock-Real Estate | 0.86% | -0.18% | -18.17% | |
| 39 | HIW | Highwoods Properties INC | Stock-Real Estate | 0.84% | -0.32% | -24.17% | |
| 40 | HPP | Hudson Pacific Properties, Inc. | Stock-Other | 0.83% | +0.36% | +62.95% | |
| 41 | CXPUSD | Columbia Property Trust INC | Stock-Other | 0.82% | — | +0.01% | |
| 42 | RLJ | Rlj Lodging Trust | Stock-Other | 0.80% | — | +0.03% | |
| 43 | TCO | Taubman Centers INC | Stock-Other | 0.79% | — | +12.28% | |
| 44 | LAMR | Lamar Advertising Co-a | Stock-Real Estate | 0.76% | +0.76% | +47391.27% | |
| 45 | CONE1EUR | Cyrusone INC | Stock-Other | 0.74% | +0.20% | +65.79% | |
| 46 | CUBE | Cubesmart | Stock-Real Estate | 0.72% | +0.24% | +76.06% | |
| 47 | RPAIUSD | Retail Properties Of Ame - A | Stock-Other | 0.72% | +0.16% | +32.95% | |
| 48 | DREUSD | Duke Realty CORP | Stock-Other | 0.71% | -0.65% | -47.33% | |
| 49 | ✓ | General Growth Pptys INC New | Stock-Other | 0.70% | +0.41% | +172.98% | |
| 50 | ✓ | Lasalle Hotel Pptys | Stock-Other | 0.69% | -0.18% | -18.36% |
Not enough priced holdings yet to compute performance
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2016-09-30 | 881 | $14.7B | 20 | |
| 2016-06-30 | 887 | $14.2B | 16 | |
| 2016-03-31 | 889 | $12.5B | 30 | |
| 2015-12-31 | 901 | $11.2B | 21 | |
| 2015-09-30 | 890 | $10.5B | 18 | |
| 2015-06-30 | 811 | $10.5B | 26 | |
| 2015-03-31 | 794 | $12.2B | 12 | |
| 2014-12-31 | 798 | $12.2B | 13 | |
| 2014-09-30 | 796 | $11.9B | 9 | |
| 2014-06-30 | 788 | $12.1B | 16 | |
| 2014-03-31 | 773 | $10.9B | 21 | |
| 2013-12-31 | 768 | $9.7B | 10 | |
| 2013-09-30 | 760 | $9.5B | 12 | |
| 2013-06-30 | 750 | $9.0B | 0 |
Shinko Asset Management Co., Ltd.'s most significant position changes for 2016-09-30: New buy: Life Storage INC (SSS1EUR); Sold out: Sovran Self Storage INC Com; Sold out: Ss Health Care Select Sector (XLV); Sold out: Ss Consumer Staples Sel Sect (XLP); Trim: Realty Income CORP (O) — shares -32.75%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SLG2EUR | Sl Green Realty CORP | +0.9% | +163.45% | Add |
| 2 | EXR | Extra Space Storage INC | +0.9% | +169.30% | Add |
| 3 | LAMR | Lamar Advertising Co-a | +0.8% | +47391.27% | Add |
| 4 | DOC | Healthpeak Properties, Inc. | +0.7% | +19.83% | Add |
| 5 | NHI | Natl Health Investors INC | +0.5% | +502.09% | Add |
| 6 | ESS | Essex Property Trust INC | +0.4% | +41.52% | Add |
| 7 | ✓ | General Growth Pptys INC New | +0.4% | +172.98% | Add |
| 8 | APTV | Aptiv PLC | +0.4% | +317.22% | Add |
| 9 | HPP | Hudson Pacific Properties, Inc. | +0.4% | +62.95% | Add |
| 10 | BRX | Brixmor Property Group INC | +0.4% | +33.30% | Add |
| 11 | AKR | Acadia Realty Trust | +0.4% | +127.29% | Add |
| 12 | SUI | Sun Communities INC | +0.3% | +162.47% | Add |
| 13 | NNN | Nnn Reit INC | +0.3% | +21.42% | Add |
| 14 | CUBE | Cubesmart | +0.2% | +76.06% | Add |
| 15 | CCI | Crown Castle INC | +0.2% | +17.46% | Add |
| 16 | OHI | Omega Healthcare Investors | +0.2% | +17.65% | Add |
| 17 | CONE1EUR | Cyrusone INC | +0.2% | +65.79% | Add |
| 18 | DOCUSD | Physicians Realty Trust | +0.2% | +896.96% | Add |
| 19 | VTR | Ventas INC | +0.2% | +24.60% | Add |
| 20 | POST | Post Holdings, Inc. | +0.2% | +18773.40% | Add |
| 21 | AMH | American Homes 4 Rent- A | +0.2% | +191.12% | Add |
| 22 | ✓ | Ddr CORP Com | +0.2% | +21.48% | Add |
| 23 | RPAIUSD | Retail Properties Of Ame - A | +0.2% | +32.95% | Add |
| 24 | APLE | Apple Hospitality Reit INC | +0.2% | +20.84% | Add |
| 25 | ✓ | Parkway Pptys INC Com | +0.1% | +77.90% | Add |
| 26 | WY | Weyerhaeuser Co | +0.1% | -1.35% | Trim |
| 27 | VNO | Vornado Realty Trust | +0.1% | +4.79% | Add |
| 28 | AMT | American Tower CORP | +0.1% | +5.78% | Add |
| 29 | REG | Regency Centers CORP | -0.1% | -44.85% | Trim |
| 30 | OKE | ONEOK, Inc. | -0.1% | -14.68% | Trim |
| 31 | ✓ | Lasalle Hotel Pptys | -0.2% | -18.36% | Trim |
| 32 | KRC | Kilroy Realty CORP | -0.2% | -18.17% | Trim |
| 33 | BXP | Bxp INC | -0.3% | -9.18% | Trim |
| 34 | HIW | Highwoods Properties INC | -0.3% | -24.17% | Trim |
| 35 | PLD | Prologis INC | -0.3% | -13.42% | Trim |
| 36 | DLR | Digital Realty Trust INC | -0.4% | -5.97% | Trim |
| 37 | ACCUSD | American Campus Communities | -0.4% | -15.74% | Trim |
| 38 | HST | Host Hotels & Resorts INC | -0.4% | -15.44% | Trim |
| 39 | CPT | Camden Property Trust | -0.4% | -20.31% | Trim |
| 40 | KIM | Kimco Realty CORP | -0.4% | -21.16% | Trim |
| 41 | FRTEUR | Federal Realty Invs Trust | -0.5% | -12.62% | Trim |
| 42 | PSA | Public Storage | -0.5% | -0.04% | Trim |
| 43 | COST | Costco Wholesale Corporation | -0.6% | -99.83% | Trim |
| 44 | DREUSD | Duke Realty CORP | -0.7% | -47.33% | Trim |
| 45 | MAA | Mid-america Apartment Comm | -0.7% | -15.87% | Trim |
| 46 | O | Realty Income CORP | -1.3% | -32.75% | Trim |
| 47 | SSS1EUR | Life Storage INC | — | NEW | New buy |
| 48 | ✓ | Sovran Self Storage INC Com | — | EXIT | Sold out |
| 49 | XLV | Ss Health Care Select Sector | — | EXIT | Sold out |
| 50 | XLP | Ss Consumer Staples Sel Sect | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2016-09-30 | 2016-10-24 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-07-22 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-11 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-01-22 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-10-27 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-07-24 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-04-28 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-04 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-05 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-07-29 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-04-28 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-01-22 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-10-30 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-08 | 13F-HR | View on EDGAR |
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