FIRST REPUBLIC INVESTMENT MANAGEMENT, INC.
CIK
1418204
Location
San Francisco, CA
Portfolio Value
Small
$715,770,995
Diversification
Diversified
Filing Date
Global Rank
#175
/ 6,895
▲ 158
Top Industry
Software - Infrastructure
7.6%
3Y Alpha vs SPY
-5.1%
Period ended 2 years ago
Filed Nov 8, 2023 · 2y
15 quarters · since Mar 2020
Clone Performance
Jun 2023–Jun 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
+56.5%
SPY
+78.1%
Annualised alpha
-5.1%
Max drawdown
−18.2%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
1,154 positions · as of Sep 30, 2023 · Δ vs Jun 30, 2023Top Position
6.1%
−5.5 pts
Top 5
21.2%
−6.5 pts
Top 10
29.1%
−11.0 pts
HHI
151
Diversified−122
Portfolio Trend
15 quarters · across all stocks
Sector Breakdown
As of Sep 30, 2023| Sector | % Portfolio | Value |
|---|---|---|
| Technology | 23.5% | $5,635,246,121 |
| Healthcare | 13.7% | $3,286,236,879 |
| Financial Services | 12.6% | $3,014,509,417 |
| Consumer Cyclical | 10.1% | $2,421,589,609 |
| Industrials | 9.0% | $2,164,795,926 |
| Energy | 8.0% | $1,920,661,554 |
| Unclassified | 6.2% | $1,478,372,995 |
| Consumer Defensive | 5.6% | $1,336,389,956 |
| Communication Services | 4.8% | $1,152,423,530 |
| Real Estate | 3.0% | $715,770,995 |
| Basic Materials | 2.5% | $594,079,725 |
| Utilities | 1.1% | $264,210,846 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| STWD | Starwood Property Trust, Inc. | +1,349,284 | 2,941,284 | $56,913,845 | |
| KKR | KKR & Co. Inc. | +728,475 | 854,226 | $52,620,321 | |
| ARES | Ares Management Corp | +698,246 | 1,464,266 | $150,629,043 | |
| CCJ | Cameco Corp | +650,436 | 670,042 | $26,560,464 | |
| NVO | Novo Nordisk A S | +511,680 | 1,006,740 | $91,552,935 | |
| FCX | Freeport-Mcmoran Inc | +266,125 | 336,802 | $12,559,346 | |
| ESRT | Empire State Realty Trust, Inc. | +260,840 | 300,970 | $2,419,798 | |
| CPA | Copa Holdings, S.A. | +254,345 | 261,319 | $23,288,749 | |
| OKE | Oneok Inc /New/ | +191,301 | 1,832,710 | $116,248,795 | |
| NU | Nu Holdings Ltd. | +187,825 | 375,342 | $2,721,229 | |
| KW | Kennedy-Wilson Holdings, Inc. | +170,208 | 442,882 | $6,528,080 | |
| MRVL | Marvell Technology, Inc. | +140,676 | 792,479 | $42,896,888 | |
| CRWD | CrowdStrike Holdings, Inc. | +112,479 | 297,275 | $49,757,889 | |
| UBER | Uber Technologies, Inc | +95,316 | 1,509,335 | $69,414,316 | |
| RYN | Rayonier Inc | +91,141 | 228,879 | $6,513,896 | |
| EPD | Enterprise Products Partners L.P. | +87,535 | 812,489 | $22,237,823 | |
| PAA | Plains All American Pipeline LP | +87,373 | 144,764 | $2,217,784 | |
| COF | Capital One Financial Corp | +50,296 | 204,822 | $19,877,975 | |
| WMB | Williams Companies, Inc. | +49,689 | 3,269,236 | $110,140,560 | |
| PCOR | Procore Technologies, Inc. | +48,626 | 75,635 | $4,940,478 | |
| SRE | Sempra | +46,384 | 117,263 | $7,977,401 | |
| CAG | Conagra Brands Inc. | +44,212 | 99,605 | $2,731,169 | |
| PCG | PG&E Corp | +42,976 | 108,100 | $1,743,653 | |
| CPRT | Copart Inc | +41,074 | 82,760 | $3,566,128 | |
| BXSL | Blackstone Secured Lending Fund | +37,148 | 54,854 | $1,500,805 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| RMBS | Rambus Inc | −678,275 | 4,643 | $259,032 | |
| PFE | Pfizer Inc | −610,207 | 3,406,550 | $112,995,263 | |
| CCI | Crown Castle Inc. | −609,749 | 504,532 | $46,432,079 | |
| BIPH | Brookfield Infrastructure Partners L.P. | −557,373 | 28,663 | $842,692 | |
| RTX | RTX Corp | −374,486 | 1,494,708 | $107,574,134 | |
| MRK | Merck & Co., Inc. | −334,740 | 3,062,384 | $315,272,432 | |
| ARE | Alexandria Real Estate Equities, Inc. | −331,690 | 102,345 | $10,244,734 | |
| SOFI | SoFi Technologies, Inc. | −221,252 | 105,335 | $841,626 | |
| EXR | Extra Space Storage Inc. | −204,862 | 292,219 | $35,527,986 | |
| SPY | Spdr S&P 500 ETF Trust | −199,924 | 2,232,889 | $954,515,389 | |
| VTRS | Viatris Inc | −173,184 | 40,417 | $398,511 | |
| ET | Energy Transfer LP | −160,490 | 736,012 | $10,326,248 | |
| ABT | Abbott Laboratories | −155,227 | 1,644,689 | $159,288,129 | |
| SLRC | SLR Investment Corp. | −154,208 | 123,856 | $1,906,143 | |
| BMY | Bristol Myers Squibb Co | −140,345 | 433,312 | $25,149,428 | |
| QQQ | Invesco Qqq Trust, Series 1 | −127,983 | 1,102,727 | $395,074,002 | |
| CFG | Citizens Financial Group Inc/Ri | −124,982 | 127,159 | $3,407,861 | |
| SYY | Sysco Corp | −120,109 | 812,140 | $53,641,847 | |
| ABBV | AbbVie Inc. | −115,354 | 2,228,037 | $332,111,195 | |
| VLO | Valero Energy Corp/Tx | −113,249 | 143,511 | $20,336,943 | |
| DOC | Healthpeak Properties, Inc. | −111,420 | 203,629 | $3,738,628 | |
| LZ | Legalzoom.Com, Inc. | −111,074 | 364,026 | $3,982,444 | |
| UDR | UDR, Inc. | −105,569 | 83,297 | $2,971,203 | |
| JNJ | Johnson & Johnson | −99,616 | 756,793 | $117,870,509 | |
| AES | Aes Corp | −92,377 | 86,006 | $1,307,291 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
25 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| AAPL | Apple Inc. | 8,488,091 | $1,453,246,060 | |
| MSFT | Microsoft Corp | 4,566,099 | $1,441,745,759 | |
| GOOGL | Alphabet Inc. | 4,848,423 | $634,464,633 | |
| AMZN | Amazon Com Inc | 4,799,700 | $610,137,864 | |
| LLY | ELI LILLY & Co | 811,230 | $435,735,969 | |
| V | Visa Inc. | 1,557,972 | $358,349,139 | |
| CVX | Chevron Corp | 2,068,493 | $348,789,289 | |
| ETN | Eaton Corp plc | 1,596,494 | $340,500,240 | |
| PEP | Pepsico Inc | 1,942,747 | $329,179,051 | |
| XOM | Exxon Mobil Corp | 2,513,311 | $295,515,107 | |
| JPM | Jpmorgan Chase & Co | 1,745,109 | $253,075,707 | |
| PG | PROCTER & GAMBLE Co | 1,689,373 | $246,411,945 | |
| ABNB | Airbnb, Inc. | 1,715,164 | $235,337,652 | |
| MS | Morgan Stanley | 2,737,798 | $223,595,962 | |
| HD | Home Depot, Inc. | 685,763 | $207,210,148 | |
| META | Meta Platforms, Inc. | 665,709 | $199,852,498 | |
| TXN | Texas Instruments Inc | 1,233,476 | $196,135,018 | |
| MCD | Mcdonalds Corp | 729,444 | $192,164,727 | |
| BX | Blackstone Inc. | 1,781,964 | $190,919,622 | |
| PLD | Prologis, Inc. | 1,650,159 | $185,164,341 | |
| CSCO | Cisco Systems, Inc. | 3,333,468 | $179,207,239 | |
| ISRG | Intuitive Surgical Inc | 611,265 | $178,666,646 | |
| LIN | Linde PLC | 452,898 | $168,636,570 | |
| BAC | Bank Of America Corp /De/ | 6,158,162 | $168,610,475 | |
| DHR | Danaher Corp /De/ | 720,879 | $158,555,029 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
25 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| RILY | BRC Group Holdings, Inc. | 158,670 | $7,295,646 | |
| IRDM | Iridium Communications Inc. | 88,532 | $5,499,607 | |
| SGHT | Sight Sciences, Inc. | 551,802 | $4,568,920 | |
| RRR | Red Rock Resorts, Inc. | 44,167 | $2,066,132 | |
| NXST | Nexstar Media Group, Inc. | 12,334 | $2,054,227 | |
| KNF | Knife River Corp | 30,626 | $1,332,231 | |
| SIMO | Silicon Motion Technology CORP | 12,407 | $891,567 | |
| TRC | Tejon Ranch Co | 50,000 | $860,500 | |
| ALDX | Aldeyra Therapeutics, Inc. | 100,111 | $839,931 | |
| HE | Hawaiian Electric Industries Inc | 21,448 | $776,417 | |
| RCKT | Rocket Pharmaceuticals, Inc. | 36,530 | $725,851 | |
| AROW | Arrow Financial Corp | 30,808 | $620,473 | |
| AGRO | Adecoagro S.A. | 64,000 | $599,040 | |
| BILL | BILL Holdings, Inc. | 4,081 | $476,864 | |
| BCSF | Bain Capital Specialty Finance, Inc. | 33,450 | $447,433 | |
| THRM | Gentherm Inc | 6,312 | $356,691 | |
| PHR | Phreesia, Inc. | 11,473 | $355,777 | |
| QDEL | QuidelOrtho Corp | 4,281 | $354,723 | |
| WTRG | Essential Utilities, Inc. | 8,836 | $352,644 | |
| CRNX | Crinetics Pharmaceuticals, Inc. | 19,354 | $348,759 | |
| TSEM | Tower Semiconductor Ltd | 8,787 | $329,688 | |
| CRI | Carters Inc | 4,525 | $328,515 | |
| NSP | Insperity, Inc. | 2,730 | $324,760 | |
| GRMN | Garmin Ltd | 2,976 | $310,367 | |
| TMDX | TransMedics Group, Inc. | 3,660 | $307,366 | |
| No positions match the current search. | ||||
81 positions ·
$715,770,995 total
· Real Estate only
· as of Sep 30, 2023
All sectors
Basic Materials
Communication Services
Consumer Cyclical
Consumer Defensive
Energy
Financial Services
Healthcare
Industrials
Real Estate
Technology
Utilities
Showing 1–50
of 81 positions by value
· page 1 of 2
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| PLD |
Prologis, Inc.
Real Estate
|
NEW | 1,650,159 | $185,164,341 | 25.87% | |
| SPG |
Simon Property Group Inc.
Real Estate
|
NEW | 642,625 | $69,422,778 | 9.70% | |
| STWD |
Starwood Property Trust, Inc.
Real Estate
|
Added | 2,941,284 | $56,913,845 | 7.95% | |
| EQIX |
Equinix Inc
Real Estate
|
NEW | 67,387 | $48,940,482 | 6.84% | |
| CCI |
Crown Castle Inc.
Real Estate
|
Reduced | 504,532 | $46,432,079 | 6.49% | |
| IRM |
Iron Mountain Inc
Real Estate
|
NEW | 646,426 | $38,430,025 | 5.37% | |
| EXR |
Extra Space Storage Inc.
Real Estate
|
Reduced | 292,219 | $35,527,986 | 4.96% | |
| DLR |
Digital Realty Trust, Inc.
Real Estate
|
NEW | 285,583 | $34,561,254 | 4.83% | |
| AMT |
American Tower Corp /Ma/
Real Estate
|
NEW | 200,693 | $33,003,963 | 4.61% | |
| OHI |
Omega Healthcare Investors Inc
Real Estate
|
Reduced | 489,478 | $16,231,090 | 2.27% | |
| AVB |
Avalonbay Communities Inc
Real Estate
|
NEW | 64,595 | $11,093,545 | 1.55% | |
| ARE |
Alexandria Real Estate Equities, Inc.
Real Estate
|
Reduced | 102,345 | $10,244,734 | 1.43% | |
| VICI |
Vici Properties Inc.
Real Estate
|
Added | 306,488 | $8,918,800 | 1.25% | |
| WY |
Weyerhaeuser Co
Real Estate
|
NEW | 256,765 | $7,872,414 | 1.10% | |
| PSA |
Public Storage
Real Estate
|
NEW | 27,237 | $7,177,494 | 1.00% | |
| SUI |
Sun Communities Inc
Real Estate
|
Reduced | 56,969 | $6,741,711 | 0.94% | |
| KW |
Kennedy-Wilson Holdings, Inc.
Real Estate
|
Added | 442,882 | $6,528,080 | 0.91% | |
| RYN |
Rayonier Inc
Real Estate
|
Added | 228,879 | $6,513,896 | 0.91% | |
| O |
Realty Income Corp
Real Estate
|
Reduced | 125,691 | $6,277,008 | 0.88% | |
| CUBE |
CubeSmart
Real Estate
|
Added | 153,850 | $5,866,300 | 0.82% | |
| WELL |
Welltower Inc.
Real Estate
|
NEW | 66,285 | $5,430,067 | 0.76% | |
| DOC |
Healthpeak Properties, Inc.
Real Estate
|
Reduced | 203,629 | $3,738,628 | 0.52% | |
| ELS |
Equity Lifestyle Properties Inc
Real Estate
|
Reduced | 53,393 | $3,401,668 | 0.48% | |
| CPT |
Camden Property Trust
Real Estate
|
Reduced | 34,712 | $3,283,060 | 0.46% | |
| EGP |
Eastgroup Properties Inc
Real Estate
|
Reduced | 17,886 | $2,978,555 | 0.42% | |
| UDR |
UDR, Inc.
Real Estate
|
Reduced | 83,297 | $2,971,203 | 0.42% | |
| CSGP |
Costar Group, Inc.
Real Estate
|
Reduced | 36,693 | $2,821,324 | 0.39% | |
| FR |
First Industrial Realty Trust Inc
Real Estate
|
Reduced | 55,194 | $2,626,682 | 0.37% | |
| BXP |
BXP, Inc.
Real Estate
|
Reduced | 42,775 | $2,544,257 | 0.36% | |
| ESRT |
Empire State Realty Trust, Inc.
Real Estate
|
Added | 300,970 | $2,419,798 | 0.34% | |
| ABR |
Arbor Realty Trust Inc
Real Estate
|
Reduced | 152,961 | $2,321,947 | 0.32% | |
| SBAC |
Sba Communications Corp
Real Estate
|
Reduced | 11,016 | $2,205,072 | 0.31% | |
| WPC |
W. P. Carey Inc.
Real Estate
|
Reduced | 40,173 | $2,127,871 | 0.30% | |
| CBRE |
Cbre Group, Inc.
Real Estate
|
NEW | 27,620 | $2,040,013 | 0.29% | |
| HST |
Host Hotels & Resorts, Inc.
Real Estate
|
NEW | 126,603 | $2,034,510 | 0.28% | |
| BXMT |
Blackstone Mortgage Trust, Inc.
Real Estate
|
Reduced | 89,449 | $1,945,515 | 0.27% | |
| TRNO |
Terreno Realty Corp
Real Estate
|
Reduced | 33,369 | $1,895,359 | 0.26% | |
| INVH |
Invitation Homes Inc.
Real Estate
|
Reduced | 58,062 | $1,839,984 | 0.26% | |
| ADC |
Agree Realty Corp
Real Estate
|
Reduced | 32,553 | $1,798,227 | 0.25% | |
| ESS |
Essex Property Trust, Inc.
Real Estate
|
Reduced | 8,012 | $1,699,265 | 0.24% | |
| COLD |
Americold Realty Trust
Real Estate
|
Reduced | 54,061 | $1,643,995 | 0.23% | |
| JLL |
Jones Lang Lasalle Inc
Real Estate
|
Reduced | 11,437 | $1,614,675 | 0.23% | |
| MAA |
Mid America Apartment Communities Inc.
Real Estate
|
Reduced | 11,544 | $1,485,135 | 0.21% | |
| TRTX |
TPG RE Finance Trust, Inc.
Real Estate
|
Reduced | 166,763 | $1,122,314 | 0.16% | |
| EPRT |
Essential Properties Realty Trust, Inc.
Real Estate
|
Reduced | 49,107 | $1,062,184 | 0.15% | |
| AMH |
American Homes 4 Rent
Real Estate
|
Reduced | 30,179 | $1,016,730 | 0.14% | |
| KIM |
Kimco Realty Corp
Real Estate
|
Reduced | 57,731 | $1,015,488 | 0.14% | |
| EQR |
Equity Residential
Real Estate
|
Reduced | 16,756 | $983,744 | 0.14% | |
| GLPI |
Gaming & Leisure Properties, Inc.
Real Estate
|
Added | 21,580 | $982,969 | 0.14% | |
| STAG |
STAG Industrial, Inc.
Real Estate
|
Added | 25,694 | $886,699 | 0.12% |