SARLX — SA Real Estate Securities Fund
Data updated: 2026-09-03
SARLX — SA Real Estate Securities Fund. United States Real Estate · $126.93M AUM · 0.75% expense ratio. Holdings, fees, performance and SEC filings.
SARLX Fund Overview
SARLX — SA Real Estate Securities Fund is a US mutual fund managed by Sa Funds Investment Trust, categorised as United States Real Estate. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Sa Funds Investment Trust
- Category: United States Real Estate
- Assets under management: $126.93M
- 1-year return: -16.7%
- Ticker: SARLX
- SEC CIK: 0001075065
- SEC series ID: S000015874
- Share class ID: C000179975
SARLX Investment Objective and Strategy
SA Real Estate Securities Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Sa Funds Investment Trust.
Investment objective
The Funds goal is to achieve long-term capital appreciation.
Principal investment strategy
The Fund pursues its goal by generally investing in readily marketable equity securities of companies the principal activities of which include ownership, management, development, construction or sale of residential, commercial or industrial real estate. Investments will include, principally, equity securities of companies in the following sectors of the real estate industry: certain real estate investment trusts (REITs), companies engaged in residential construction and firms, excluding partnerships, the principal business of which is to develop commercial property. The Fund generally considers a company to be principally engaged in the real estate industry if the company (i) derives at least 50% of its revenue or profits from the ownership, management, development, construction or sale of residential, commercial, industrial or other real estate; (ii) has at least 50% of the value of its assets invested in residential, commercial, industrial or other real estate; or (iii) is organized as a REIT or REIT-like entity.
REIT or REIT-like entities are types of real estate companies that pool investors funds for investment primarily in income producing real estate or real estate related loans or interests. The Fund will make equity investments in securities listed on the New York Stock Exchange (NYSE), NYSE American LLC, Nasdaq Global Market , Nasdaq Capital Market , or such other securities exchanges deemed appropriate by the Sub-Adviser, using a free float-adjusted market capitalization weighted approach. In general, the higher the relative market capitalization of the U.S. real estate company, the greater its representation in the Fund. The Sub-Adviser may, in its discretion, adjust the representation in the Fund of an eligible company, or exclude an eligible company, after considering such factors as free float (a companys share capital that is freely available for trading), size, value, profitability, trading strategies, liquidity, momentum and other factors that the Sub-Adviser determines to be appropriate, given market conditions.
In assessing profitability, the Sub-Adviser may consider different ratios, such as earnings or profits from operations relative to book value or assets. The criteria the Sub-Adviser uses for assessing value or profitability are subject to change from time to time. The Fund will purchase shares of REITs. A REIT is not subject to federal income tax on net income and gains it distributes to shareholders if it complies with several requirements relating to its organization, ownership, assets and income and a requirement that it distribute to its shareholders at least 90% of its taxable income (other than net capital gain) for each taxable year. As a non-fundamental policy, under normal circumstances, at least 80% of the Funds net assets will be invested in securities of companies in the real estate industry.
The Fund may lend its portfolio securities to generate additional income.
SARLX Holdings
Top 10 holdings of SA Real Estate Securities Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Welltower Inc | 7.66% |
| Prologis Inc | 6.24% |
| Equinix Inc | 5.15% |
| Simon Property Group Inc | 5.06% |
| Realty Income Corp | 4.34% |
| American Tower Corp | 4.18% |
| Digital Realty Trust Inc | 4.03% |
| Public Storage | 3.95% |
| Ventas Inc | 3.32% |
| Iron Mountain Inc | 2.98% |
SARLX Portfolio Allocation
Asset-class allocation of SA Real Estate Securities Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 98.8% |
| Cash & Equivalents | 1.0% |
SARLX Performance
Total returns for SARLX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -16.7% |
| 3 years (annualised) | -1.7% |
SARLX Risk Information
Risk metrics for SARLX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 25.8%
SARLX Costs and Fees
SARLX costs about $75 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.75%
- Gross expense ratio: 0.80%
- Portfolio turnover: 5%
- Brokerage commissions: 0.34 bps of average net assets (SEC N-CEN)
SARLX Cashflows
Over the 12 months to 2026-06, SA Real Estate Securities Fund had net outflows of $4.01M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$849.43K |
| 2026-05 | −$788.82K |
| 2026-04 | −$1.33M |
| 2026-03 | −$497.64K |
| 2026-02 | −$479.15K |
| 2026-01 | −$85.60K |
SARLX Debt Constituents
No individual debt constituents are reported in SA Real Estate Securities Fund's latest SEC N-PORT filing.
SARLX Prospectus and SEC Filings
Official SA Real Estate Securities Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2025-10-24
- Prospectus (485BPOS) — filed 2024-10-28
- Prospectus amendment (485APOS) — filed 2024-08-29
- Portfolio holdings (N-PORT) — filed 2026-08-27
- Portfolio holdings (N-PORT) — filed 2026-05-26
- Portfolio holdings (N-PORT) — filed 2026-02-26
- Annual census (N-CEN) — filed 2026-09-03
- Annual census (N-CEN) — filed 2025-09-05
Related Funds
Other United States Real Estate funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.