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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
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Buyside Digest is not affiliated with, and does not endorse, Easterly - Global Real Estate Fund. This analysis is provided for institutional research purposes only and is not investment advice.
"Easterly's Global Real Estate Fund outperformed by 247 bps in Q2 2026, driven by concentrated positions in data centers and senior housing. The fund capitalizes on supply constraints and rate stability to own high-quality REITs with embedded growth."
The Easterly Global Real Estate Fund delivered a 10.05% net return in Q2 2026, outperforming its benchmark by 247 basis points as global real estate stocks posted significant gains. The fund's outperformance was driven by overweight positions in data centers and healthcare REITs, with NextDC, Goodman Group, and Welltower as top contributors. The fund views the market as transitioning from stabilization to increasing differentiation, where higher-quality, lower-leverage companies with visible internal growth are pulling away from weaker platforms. Interest rate stability in the 4-4.5% range has removed a major headwind, while low construction activity due to higher costs and labor shortages conveys pricing power to existing asset owners. The fund maintains a constructive outlook, favoring sectors with durable structural demand including data centers, senior housing, and industrial/logistics, while actively avoiding self-storage and office due to fundamental challenges. The portfolio's high-conviction approach focuses on 50 companies selected from a 500+ company universe, emphasizing operational resilience, balance sheet flexibility, and attractive valuations.
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