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Real Estate Investor AEW Capital Management’s Top Picks: Simon Property Group Inc (SPG), Equity Residential (EQR) and Boston Properties Inc. (BXP)

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Jeffrey Furber’s AEW Capital Management has disclosed its equity positions as of the end of the first quarter of 2015 in a new 13F filing with the U.S. Securities and Exchange Commission. Massachusetts-based real estate investor AEW Capital Management was founded by Furber in 1981. It had more than $25.93 billion in assets under management (AUM) as of July 2014. According to the latest filing, AEW’s portfolio contains a total of 48 positions worth about $5.0 billion, while its four largest holdings are represented by Simon Property Group Inc (NYSE:SPG), Equity Residential (NYSE:EQR), Boston Properties Inc. (NYSE:BXP), and AvalonBay Communities Inc (NYSE:AVB).


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We’ll now talk about AEW Capital’s top holdings, beginning with Simon Property Group Inc (NYSE:SPG) which continues to be the top holding of the investor, which has ownership of 3.01 million shares worth $588.97 million. The stake represents a slight decrease from the 3.16 million shares it held previously.  Simon Property Group Inc (NYSE:SPG) is engaged in retail real estate ownership, management and development, and is a S&P 100 company with a market cap of $57.5 billion. Simon Property Group Inc (NYSE:SPG) reported an increase in its first-quarter 2015 net income to $362.2 million, compared with $341.6 million in the prior-year period. Aside from AEW Capital, David E. Shaw’s D E Shaw also holds a significant stake in Simon Property Group Inc (NYSE:SPG).

Equity Residential (NYSE:EQR) represents the second largest holding of AEW Capital Management. The investor trimmed its position in the $27.8-billion market cap real estate investment trust (REIT) to 4.22 million shares from 4.30 million shares during the first quarter. The stake is valued at about $328.29 million. Equity Residential (NYSE:EQR)’s stock rose by 19.45% during the past calendar year. Other investors having big positions in Equity Residential (NYSE:EQR) include Arrowstreet Capital, managed by Peter Rathjens, Bruce Clarke and John Campbell, and the quant fund D E Shaw.

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