Divco West Real Estate Services, LLC — 13F Holdings & Portfolio
CIK 1561877 · latest 13F-HR filed 2026-08-05
Divco West Real Estate Services, LLC manages $94.0M in 13F-reported U.S. long-equity assets across 4 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are BXP (47.99%), KRC (40.68%), BDN (8.24%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 0 new positions and exited 0; 4 existing positions rose in reported value and 0 fell.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
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AUM
$94.0M
Long-equity book
Holdings
4
Distinct positions
Period
2026-06-30
Filed 2026-08-05
Q/Q Activity
+0 / −0 / ↑4 / ↓0
vs 2026-03-31
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q2 26Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.
Sector mix
% of 13F valueSectors from each company's SIC code; funds and ETFs grouped separately.
Biggest buys and sells
Q1 26 → Q2 26Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.
13F assets and positions
3 quartersTotal reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.
Top positions over time
reported valueThe eight largest current positions, valued at each quarter end.
Concentration
top 10 = 100%Cumulative share of the portfolio held in the largest N positions.
Firm Profile & Key People
As of the firm’s regulatory filing dated Mar 31, 2026.
Assets Under Management
$16.30B
Discretionary
$7.12B
Employees
215
Accounts
35
Address
301 HOWARD STREET
SUITE 2100
SAN FRANCISCO, CA 94105
SUITE 2100
SAN FRANCISCO, CA 94105
Phone
(415) 284-5700
| Name | Title / Status | Ownership | Type |
|---|---|---|---|
| CARP, MICHAEL, FREDERIC Control | PRESIDENT, CHIEF OPERATING OFFICER since Apr 2012 | Less than 5% | Individual |
| DIVCORE MONTEREY MANAGEMENT HOLDINGS, LLC Control | MEMBER since Jan 2009 | 75% or more | Domestic Entity |
| GUERRERO, LISA, M Control | TREASURER since Jan 2023 | Less than 5% | Individual |
| MASHAAL, ROBERT, GIL Control | VICE PRESIDENT since Apr 2012 | Less than 5% | Individual |
| SHERMAN, MEGAN, PAYNE Control | SECRETARY since Jul 2020 | Less than 5% | Individual |
| SHIFF INVESTMENT COMPANY, LLC Control | MEMBER since Jan 2009 | Less than 5% | Domestic Entity |
| SHIFF, STUART, ZACHARY Control | CHIEF EXECUTIVE OFFICER since Apr 2006 | Less than 5% | Individual |
| STERNBERG, MARC, JORDAN Control | CHIEF COMPLIANCE OFFICER since Mar 2019 | Less than 5% | Individual |
| DIVCORE CAPITAL, LLC Control Indirect owner via DIVCORE MONTEREY MANAGEMENT HOLDINGS, LLC | MEMBER since Jun 2022 | 75% or more | Domestic Entity |
| FINERMAN, MARK, LAWRENCE Control Indirect owner via MARK L. FINERMAN 2006 REVOCABLE TRUST | TRUSTEE since Nov 2006 | General partner, trustee or manager | Individual |
| FIRST REPUBLIC TRUST COMPANY OF DELAWARE, LLC Control Indirect owner via SHIFF FAMILY 2020 DYNASTY TRUST | TRUSTEE since Dec 2020 | General partner, trustee or manager | Domestic Entity |
| GROOPER LLC Control Indirect owner via MF MANAGEMENT HOLDINGS LLC | MEMBER since Jun 2022 | 50–75% | Domestic Entity |
| MARK L. FINERMAN 2006 REVOCABLE TRUST Control Indirect owner via GROOPER LLC | MEMBER since Apr 2024 | 75% or more | Domestic Entity |
| MASHAAL, ROBERT, GIL Control Indirect owner via RAVENSMOUNT LIMITED PARTNERSHIP | MEMBER since Jun 2022 | 75% or more | Individual |
| MASHAAL, ROBERT, GIL Control Indirect owner via RAVENSMOUNT GENERAL PARTNER, LLC | MEMBER since Jun 2022 | 75% or more | Individual |
| MF MANAGEMENT HOLDINGS LLC Control Indirect owner via DIVCORE CAPITAL, LLC | MEMBER since Jun 2022 | 25–50% | Domestic Entity |
| RAVENSMOUNT GENERAL PARTNER, LLC Control Indirect owner via RAVENSMOUNT LIMITED PARTNERSHIP | GENERAL PARTNER since Jun 2022 | General partner, trustee or manager | Domestic Entity |
| RAVENSMOUNT LIMITED PARTNERSHIP Control Indirect owner via DIVCORE CAPITAL, LLC | MEMBER since Jun 2022 | 25–50% | Domestic Entity |
| SHIFF FAMILY 2020 DYNASTY TRUST Control Indirect owner via SHIFF FAMILY LEGACY, LLC | MEMBER since Dec 2020 | 75% or more | Domestic Entity |
| SHIFF FAMILY LEGACY, LLC Control Indirect owner via SHIFF INVESTMENT COMPANY, LLC | MEMBER since Jan 2021 | 25–50% | Domestic Entity |
| SHIFF INVESTMENT CO., LLC Control Indirect owner via DIVCORE CAPITAL, LLC | MEMBER since Jun 2022 | 25–50% | Domestic Entity |
| SHIFF, STUART, ZACHARY Control Indirect owner via SHIFF INVESTMENT COMPANY, LLC | MEMBER since Dec 2008 | 50–75% | Individual |
Ownership & leadership changes · 18 filings with changes since Feb 14, 2012
From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.
May 10, 2024 filing
- No longer listedFINERMAN, MARK, LAWRENCE · MEMBER · 75% or more · indirect via GROOPER LLC · control person · listed since Jul 2008
- AddedFINERMAN, MARK, LAWRENCE · TRUSTEE · General partner, trustee or manager · indirect via MARK L. FINERMAN 2006 REVOCABLE TRUST · control person
- AddedMARK L. FINERMAN 2006 REVOCABLE TRUST · MEMBER · 75% or more · indirect via GROOPER LLC · control person
Mar 29, 2024 filing
- ChangedCARP, MICHAEL, FREDERIC · now a control person
Mar 31, 2023 filing
- No longer listedNOVICK, STEPHEN, DAVID · VICE PRESIDENT · Less than 5% · control person · listed since Aug 2006
- No longer listedWONG, KENNETH, DAVID · TREASURER, CHIEF FINANCIAL OFFICER · Less than 5% · control person · listed since Mar 2018
- AddedGUERRERO, LISA, M · TREASURER · Less than 5% · control person
Jul 25, 2022 filing
- AddedFIRST REPUBLIC TRUST COMPANY OF DELAWARE, LLC · TRUSTEE · General partner, trustee or manager · indirect via SHIFF FAMILY 2020 DYNASTY TRUST · control person
- AddedMASHAAL, ROBERT, GIL · MEMBER · 75% or more · indirect via RAVENSMOUNT GENERAL PARTNER, LLC · control person
Jun 28, 2022 filing
- No longer listedDIVCORE, LLC · MEMBER · 75% or more · control person · listed since Jan 2009
- No longer listedGROOPER LLC · MEMBER · 25–50% · indirect via DIVCORE, LLC · control person · listed since Mar 2019
- No longer listedMASHAAL, ROBERT, GIL · MEMBER · 25–50% · indirect via DIVCORE, LLC · control person · listed since Mar 2021
- No longer listedSHIFF INVESTMENT CO., LLC · MEMBER · 25–50% · indirect via DIVCORE, LLC · control person · listed since Mar 2019
- AddedDIVCORE CAPITAL, LLC · MEMBER · 75% or more · indirect via DIVCORE MONTEREY MANAGEMENT HOLDINGS, LLC · control person
- AddedDIVCORE MONTEREY MANAGEMENT HOLDINGS, LLC · MEMBER · 75% or more · control person
- AddedGROOPER LLC · MEMBER · 50–75% · indirect via MF MANAGEMENT HOLDINGS LLC · control person
- AddedMASHAAL, ROBERT, GIL · MEMBER · 75% or more · indirect via RAVENSMOUNT LIMITED PARTNERSHIP · control person
- AddedMF MANAGEMENT HOLDINGS LLC · MEMBER · 25–50% · indirect via DIVCORE CAPITAL, LLC · control person
- AddedRAVENSMOUNT GENERAL PARTNER, LLC · GENERAL PARTNER · General partner, trustee or manager · indirect via RAVENSMOUNT LIMITED PARTNERSHIP · control person
- AddedRAVENSMOUNT LIMITED PARTNERSHIP · MEMBER · 25–50% · indirect via DIVCORE CAPITAL, LLC · control person
- AddedSHIFF INVESTMENT CO., LLC · MEMBER · 25–50% · indirect via DIVCORE CAPITAL, LLC · control person
Jan 26, 2022 filing
- AddedSHIFF FAMILY 2020 DYNASTY TRUST · MEMBER · 75% or more · indirect via SHIFF FAMILY LEGACY, LLC · control person
- AddedSHIFF FAMILY LEGACY, LLC · MEMBER · 25–50% · indirect via SHIFF INVESTMENT COMPANY, LLC · control person
- ChangedSHIFF INVESTMENT CO., LLC · indirect via DIVCORE, LLC: ownership 50–75% → 25–50%
- ChangedSHIFF, STUART, ZACHARY · indirect via SHIFF INVESTMENT COMPANY, LLC: ownership 75% or more → 50–75%
Mar 31, 2021 filing
- AddedMASHAAL, ROBERT, GIL · MEMBER · 25–50% · indirect via DIVCORE, LLC · control person
- Listed againSHERMAN, MEGAN, PAYNE · SECRETARY · Less than 5% · control person
- ChangedMASHAAL, ROBERT, GIL · title CHIEF INVESTMENT OFFICER → VICE PRESIDENT
- ChangedNOVICK, STEPHEN, DAVID · title SENIOR MANAGING DIRECTOR → VICE PRESIDENT
- ChangedWONG, KENNETH, DAVID · title CHIEF FINANCIAL OFFICER → TREASURER, CHIEF FINANCIAL OFFICER
Mar 30, 2020 filing
- No longer listedDIETSCH, STEVEN, ALAN · SENIOR MANAGING DIRECTOR · Less than 5% · control person · listed since Mar 2018
- No longer listedMOORE, JACQUELINE, URSULA · SENIOR MANAGING DIRECTOR · Less than 5% · control person · listed since May 2016
Mar 28, 2019 filing
- No longer listedSHERMAN, MEGAN, PAYNE · CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Jun 2017
- No longer listedSHIFF, STUART, ZACHARY · MEMBER · 75% or more · indirect via DIVCORE, LLC & SHIFF INVESTMENT CO, LLC · control person · listed since Jan 2009
- AddedFINERMAN, MARK, LAWRENCE · MEMBER · 75% or more · indirect via GROOPER LLC · control person
- AddedGROOPER LLC · MEMBER · 25–50% · indirect via DIVCORE, LLC · control person
- AddedSHIFF INVESTMENT CO., LLC · MEMBER · 50–75% · indirect via DIVCORE, LLC · control person
- AddedSHIFF, STUART, ZACHARY · MEMBER · 75% or more · indirect via SHIFF INVESTMENT COMPANY, LLC · control person
- AddedSTERNBERG, MARC, JORDAN · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
- ChangedDIVCORE, LLC · ownership 25–50% → 75% or more
- ChangedSHIFF INVESTMENT COMPANY, LLC · ownership 50–75% → Less than 5%
Mar 29, 2018 filing
- No longer listedKNETZGER, EDWIN, LEONARD · VICE CHAIRMAN · Less than 5% · control person · listed since Apr 2012
- AddedWONG, KENNETH, DAVID · CHIEF FINANCIAL OFFICER · Less than 5% · control person
- ChangedDIETSCH, STEVEN, ALAN · title CHIEF FINANCIAL OFFICER → SENIOR MANAGING DIRECTOR
Older changes (9 more filings)
Jun 5, 2017 filing
- AddedSHERMAN, MEGAN, PAYNE · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
- ChangedMOORE, JACQUELINE, URSULA · title GENERAL COUNSEL AND CHIEF COMPLIANCE OFFICER → SENIOR MANAGING DIRECTOR
Mar 31, 2017 filing
- ChangedCARP, MICHAEL, FREDERIC · title PRESIDENT → PRESIDENT, CHIEF OPERATING OFFICER
- ChangedKNETZGER, EDWIN, LEONARD · title CHIEF OPERATING OFFICER / VICE CHAIRMAN → VICE CHAIRMAN
- ChangedNOVICK, STEPHEN, DAVID · title PRINCIPAL → SENIOR MANAGING DIRECTOR
May 26, 2016 filing
- No longer listedPIERRAT, VALERIE, YVETTE · CHIEF COMPLIANCE OFFICER · Less than 5% · listed since Aug 2015
- ChangedMOORE, JACQUELINE, URSULA · title GENERAL COUNSEL → GENERAL COUNSEL AND CHIEF COMPLIANCE OFFICER
May 20, 2016 filing
- AddedCARP, MICHAEL, FREDERIC · PRESIDENT · Less than 5%
Mar 30, 2016 filing
- No longer listedBUCKWALTER, BENJAMIN, BERNARD · CHIEF COMPLIANCE OFFICER · Less than 5% · listed since Apr 2013
- AddedPIERRAT, VALERIE, YVETTE · CHIEF COMPLIANCE OFFICER · Less than 5%
- ChangedKNETZGER, EDWIN, LEONARD · title CHIEF OPERATING OFFICER → CHIEF OPERATING OFFICER / VICE CHAIRMAN
- ChangedMASHAAL, ROBERT, GIL · title PRINCIPAL → CHIEF INVESTMENT OFFICER
Apr 26, 2013 filing
- No longer listedDICKINSON, JENNIFER, TRACEY · CHIEF COMPLIANCE OFFICER · Less than 5% · listed since Jun 2012
- AddedBUCKWALTER, BENJAMIN, BERNARD · CHIEF COMPLIANCE OFFICER · Less than 5%
Apr 1, 2013 filing
- ChangedDICKINSON, JENNIFER, TRACEY · no longer a control person
Jun 21, 2012 filing
- No longer listedDALLAS, OWEN, RADFORD · CHIEF COMPLIANCE OFFICER · Less than 5% · listed since Feb 2012
- AddedDICKINSON, JENNIFER, TRACEY · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
Feb 14, 2012 filing (earliest on record)
- ListedDALLAS, OWEN, RADFORD · CHIEF COMPLIANCE OFFICER · Less than 5%
- ListedDIETSCH, STEVEN, ALAN · CHIEF FINANCIAL OFFICER · Less than 5% · control person
- ListedDIVCORE, LLC · MEMBER · 25–50% · control person
- ListedKNETZGER, EDWIN, LEONARD · CHIEF OPERATING OFFICER · Less than 5% · control person
- ListedMASHAAL, ROBERT, GIL · PRINCIPAL · Less than 5% · control person
- ListedMOORE, JACQUELINE, URSULA · GENERAL COUNSEL · Less than 5% · control person
- ListedNOVICK, STEPHEN, DAVID · PRINCIPAL · Less than 5% · control person
- ListedSHIFF INVESTMENT COMPANY, LLC · MEMBER · 50–75% · control person
- ListedSHIFF, STUART, ZACHARY · CHIEF EXECUTIVE OFFICER · Less than 5% · control person
- ListedSHIFF, STUART, ZACHARY · MEMBER · 75% or more · indirect via DIVCORE, LLC & SHIFF INVESTMENT CO, LLC · control person
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Adds (vs prior quarter)
- BXP INC$9.8M +27.8%
- KILROY RLTY CORP$9.5M +32.8%
- HUDSON PACIFIC PROPERTIES IN$1.8M +157.0%
- BRANDYWINE RLTY TR$1.1M +17.0%
Divco West Real Estate Services, LLC Holdings (2026-06-30)
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
Filing History
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-05 | $94.0M | 4 | 0001561877-26-000003 |
| 2026-03-31 | 2026-05-08 | $71.9M | 4 | 0001561877-26-000002 |
| 2025-12-31 | 2026-02-04 | $93.3M | 4 | 0001561877-26-000001 |
Filer Information
Address
301 HOWARD STREETSUITE 2100
SAN FRANCISCO, CA 94105
Phone
(415) 284-5700
Filing Manager
Divco West Real Estate Services, LLC
SAN FRANCISCO, CA
Signatory
Marc Sternberg
CCO