SEC 13F Intelligence

Managers / Q3 2025

American Assets Capital Advisers, LLC

CIK 0001626691 · 3430 CARMEL MOUNTAIN ROAD, SUITE 150, SAN DIEGO, CA, 92121 · 858.345.1470

Reported Value
$95M
Q3 2025
Positions
36
Filings on Record
27
2019–present window
Filed
Nov 4, 2025
original filing

Summary

American Assets Capital Advisers, LLC reported $95M in U.S.-listed holdings across 36 positions for Q3 2025.

Its largest position, VGSH, represents 14.3% of the portfolio.

Compared with Q2 2025, the fund opened 0 new positions and exited 4.

Portfolio Metrics

Turnover
+11.3%
vs prior filed quarter
Top-10 Concentration
+62.9%
share of reported value
Largest Position
+14.3%
Vanguard Scottsdale Fds

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q1 ’19: $439MQ1 ’19Q2 ’19: $445MQ3 ’19: $379MQ4 ’19: $400MQ1 ’20: $471MQ1 ’20Q2 ’20: $520MQ3 ’20: $620MQ4 ’20: $709MQ1 ’21: $770MQ1 ’21Q2 ’21: $882MQ3 ’21: $835MQ4 ’21: $1.0BQ1 ’22: $848MQ1 ’22Q2 ’22: $664MQ3 ’22: $509MQ4 ’22: $413MQ1 ’23: $428MQ1 ’23Q2 ’23: $397MQ3 ’23: $354MQ4 ’23: $353MQ1 ’24: $351MQ1 ’24Q2 ’24: $316MQ3 ’24: $326MQ4 ’24: $300MQ1 ’25: $239MQ1 ’25Q2 ’25: $100MQ3 ’25: $95Mfilingsflow.com

Portfolio Composition

By security type
REIT: 55.1%Common Stock: 30.5%ETP: 14.3%
  • REIT · 55.1% · $52M
  • Common Stock · 30.5% · $29M
  • ETP · 14.3% · $14M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ZZILLOW GROUP INCADDED+8.8K15.6K+$781,215$1M
CZRCAESARS ENTERTAINMENT INC NEADDED+86.0K170.1K+$2M$5M
NFENEW FORTRESS ENERGY INCSOLD OUT−721.5K0−$2M$0
GEVGE VERNOVA INCSOLD OUT−3.0K0−$2M$0
VICIVICI PPTYS INCSOLD OUT−36.2K0−$1M$0
BXBLACKSTONE INCSOLD OUT−3.4K0−$515,004$0
REXRREXFORD INDL RLTY INCTRIMMED−26.7K15.2K−$865,295$626,475
CSGPCOSTAR GROUP INCADDED+9.2K24.4K+$835,843$2M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q3 2025

36 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1VGSHVANGUARD SCOTTSDALE FDShistory →SHORT TERM TREAS14.34%$14M230.9K
2FTAIFTAI AVIATION LTDhistory →SHS7.54%$7M42.8K
3AMTAMERICAN TOWER CORP NEWhistory →COM6.74%$6M33.2K
4PLDPROLOGIS INC.history →COM5.98%$6M49.5K
5FIPFTAI INFRASTRUCTURE INChistory →COMMON STOCK5.93%$6M1.29M
6EQIXEQUINIX INChistory →COM5.35%$5M6.5K
7CZRCAESARS ENTERTAINMENT INC NEhistory →COM4.85%$5M170.1K
8DLRDIGITAL RLTY TR INChistory →COM4.43%$4M24.3K
9SPGSIMON PPTY GROUP INC NEWhistory →COM4.36%$4M22.0K
10MACMACERICH COhistory →COM3.35%$3M174.3K
11VTRVENTAS INChistory →COM3.15%$3M42.6K
12CDZICADIZ INChistory →COM NEW2.99%$3M601.1K
13MGMMGM RESORTS INTERNATIONALhistory →COM2.64%$2M72.1K
14IRMIRON MTN INC DELhistory →COM2.63%$2M24.4K
15CBRECBRE GROUP INChistory →CL A2.61%$2M15.7K
16WELLWELLTOWER INChistory →COM2.39%$2M12.7K
17CCICROWN CASTLE INChistory →COM2.36%$2M23.2K
18EXREXTRA SPACE STORAGE INChistory →COM2.30%$2M15.5K
19CSGPCOSTAR GROUP INChistory →COM2.17%$2M24.4K
20PSAPUBLIC STORAGE OPER COhistory →COM1.53%$1M5.0K
21AREALEXANDRIA REAL ESTATE EQ INhistory →COM1.52%$1M17.3K
22ZZILLOW GROUP INChistory →CL C CAP STK1.33%$1M15.6K
23INVHINVITATION HOMES INChistory →COM1.29%$1M41.8K
24AVBAVALONBAY CMNTYS INChistory →COM1.21%$1M5.9K
25SBACSBA COMMUNICATIONS CORP NEWhistory →CL A1.05%$992,0795.1K
26EQREQUITY RESIDENTIALSH BEN INT0.98%$923,95614.3K
27WYWEYERHAEUSER CO MTN BECOM NEW0.76%$721,53829.1K
28REXRREXFORD INDL RLTY INCCOM0.66%$626,47515.2K
29SUISUN CMNTYS INCCOM0.63%$594,5614.6K
30NLYANNALY CAPITAL MANAGEMENT INCOM NEW0.58%$553,20827.4K
31AGNCAGNC INVT CORPCOM0.49%$461,27547.1K
32AMHAMERICAN HOMES 4 RENTCL A0.47%$443,38913.3K
33KEXKIRBY CORPCOM0.45%$426,5965.1K
34ELSEQUITY LIFESTYLE PPTYS INCCOM0.45%$426,2357.0K
35CUBECUBESMARTCOM0.37%$347,0338.5K
36COLDAMERICOLD REALTY TRUST INCCOM0.13%$123,18310.1K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q3 2025$95M36Nov 4, 202513F-HRchanges · EDGAR ↗
Q2 2025$100M40Aug 6, 202513F-HRchanges · EDGAR ↗
Q1 2025$239M40May 8, 202513F-HRchanges · EDGAR ↗
Q4 2024$300M40Feb 10, 202513F-HRchanges · EDGAR ↗
Q3 2024$326M37Nov 5, 202413F-HRchanges · EDGAR ↗
Q2 2024$316M35Jul 31, 202413F-HRchanges · EDGAR ↗
Q1 2024$351M62May 10, 202413F-HRchanges · EDGAR ↗
Q4 2023$353M61Feb 13, 202413F-HRchanges · EDGAR ↗
Q3 2023$354M59Nov 8, 202313F-HRchanges · EDGAR ↗
Q2 2023$397M59Aug 7, 202313F-HRchanges · EDGAR ↗
Q1 2023$428M63May 4, 202313F-HRchanges · EDGAR ↗
Q4 2022$413M65Feb 7, 202313F-HRchanges · EDGAR ↗
Q3 2022$509M64Oct 25, 202213F-HRchanges · EDGAR ↗
Q2 2022$664M65Jul 21, 202213F-HRchanges · EDGAR ↗
Q1 2022$848M69May 6, 202213F-HRchanges · EDGAR ↗
Q4 2021$1.0B60Feb 3, 202213F-HRchanges · EDGAR ↗
Q3 2021$835M56Oct 21, 202113F-HRchanges · EDGAR ↗
Q2 2021$882M60Aug 4, 202113F-HRchanges · EDGAR ↗
Q1 2021$770M60Apr 29, 202113F-HRchanges · EDGAR ↗
Q4 2020$709M57Feb 8, 202113F-HRchanges · EDGAR ↗
Q3 2020$620M66Oct 30, 202013F-HRchanges · EDGAR ↗
Q2 2020$520M62Aug 4, 202013F-HRchanges · EDGAR ↗
Q1 2020$471M53Apr 24, 202013F-HRchanges · EDGAR ↗
Q4 2019$400M43Jan 28, 202013F-HRchanges · EDGAR ↗
Q3 2019$379M44Nov 1, 201913F-HRchanges · EDGAR ↗
Q2 2019$445M43Jul 23, 201913F-HRchanges · EDGAR ↗
Q1 2019$439M43May 1, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.