Investment objective & strategy
As of April 28, 2025 · prospectusObjective. The Portfolios investment goal is total return through a combination of growth and income.
Strategy. The Portfolio attempts to achieve its goal by investing, under normal circumstances, at least 80% of assets in securities of companies principally engaged in the real estate industry and other real estate related investments. The Portfolios subadviser believes that rigorous, bottom-up, fundamental research is the most effective manner in which to identify real estate companies with the potential for higher than average growth rates and strong balance sheets that can be purchased at reasonable prices. This bottom-up research is generated by a team of skilled analysts specifically dedicated to the U.S. real estate investment trust (REIT) sector. The subadvisers investment philosophy is built upon the belief that security selection has a higher probability of repeatability and success in different market … The Portfolio attempts to achieve its goal by investing, under normal circumstances, at least 80% of assets in securities of companies principally engaged in the real estate industry and other real estate related investments. The Portfolios subadviser believes that rigorous, bottom-up, fundamental research is the most effective manner in which to identify real estate companies with the potential for higher than average growth rates and strong balance sheets that can be purchased at reasonable prices. This bottom-up research is generated by a team of skilled analysts specifically dedicated to the U.S. real estate investment trust (REIT) sector. The subadvisers investment philosophy is built upon the belief that security selection has a higher probability of repeatability and success in different market environments. Accurately forecasting companies future cash flow growth can help drive strong returns and benchmark outperformance. Additionally, identifying stocks that are dislocated from the market on relative fundamental and valuation bases can also help generate returns. The Portfolio is non-diversified, which means that it may invest its assets in a smaller number of issuers than a diversified portfolio. The Portfolio, from time to time, may have significant investments in one or more countries or in particular sectors.
Top holdings
As of April 30, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| EQUINIX INC | — | $29.89M | 11.79% |
| PROLOGIS INC REIT | — | $27.35M | 10.79% |
| VENTAS INC REIT | — | $21.62M | 8.53% |
| WELLTOWER INC | — | $21.33M | 8.41% |
| IRON MOUNTAIN INC | — | $13.82M | 5.45% |
| EXTRA SPACE STORAGE INC | — | $12.48M | 4.92% |
| AVALONBAY COMMUNITIES INC REIT | — | $11.71M | 4.62% |
| TANGER INC- REIT | — | $9.56M | 3.77% |
| CAMDEN PROP TR | — | $9.32M | 3.67% |
| FOUR CORNERS PRO | — | $7.63M | 3.01% |
Portfolio moves
Jan 31, 2026 → Apr 30, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Fidelity Real Estate Equity Central Fund | 97% | — |
| VIP Real Estate Portfolio | 82% | 0.61% |
| Real Estate Portfolio | 55% | 0.79% |
Advisers
| Firm | Role |
|---|---|
| FIAM LLC | Sub-adviser |
| SunAmerica Asset Management, LLC | Adviser |
Footnotes
- Net assets and holdings count as of April 30, 2026, from the fund's N-PORT filing.
Machine-readable: JSON · Markdown. Programmatic access via the agent surface.