# EDGAR Filing Document

**Accession Number:** 0001626691
**File Stem:** 0001626691-25-000008
**Filing Date:** 2025-8
**Character Count:** 24112
**Document Hash:** d84fa746f3b2d9160fa5365d88be2b54
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001626691-25-000008.hdr.sgml**: 20250815

**ACCESSION NUMBER**: 0001626691-25-000008

**CONFORMED SUBMISSION TYPE**: N-PX

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250815

**EFFECTIVENESS DATE**: 20250815

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** American Assets Capital Advisers, LLC
- **CENTRAL INDEX KEY:** 0001626691

**ORGANIZATION NAME:**
- **EIN:** 463351066
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-PX
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-16374
- **FILM NUMBER:** 251225718

**BUSINESS ADDRESS:**
- **STREET 1:** 3430 CARMEL MOUNTAIN ROAD
- **STREET 2:** SUITE 150
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92121
- **BUSINESS PHONE:** 858.345.1470

**MAIL ADDRESS:**
- **STREET 1:** 3430 CARMEL MOUNTAIN ROAD
- **STREET 2:** SUITE 150
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92121

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** American Assets Capital Advisers
- **DATE OF NAME CHANGE:** 20141201

## FORM N-PX
### ANNUAL REPORT OF PROXY VOTING RECORD

## N-PX: Filer Information

**Filer CIK:** 0001626691

**Date of Report:** 06/30/2025

**Are you a Registered Management Investment Company or an Institutional Manager?:** Institutional Manager

**Is this a LIVE or TEST Filing?:** LIVE

**Is this an electronic copy of an official filing submitted in paper format?:** [ ]

### Submission Contact Information
_Not provided in this filing._

### Notification Information
**Notify via Filing Website only?:** [ ]

## N-PX: Cover Page

**Name of reporting person:** American Assets Capital Advisers, LLC

**Address:** 3430 CARMEL MOUNTAIN ROAD, SAN DIEGO, CA 92121

**Telephone number:** 858-345-1477

**Name of agent for service:** JULIE SCHWARTZ

**Agent Address:** 3430 CARMEL MOUNTAIN ROAD, SAN DIEGO, CA 92121

**Reporting Period:** Report for the year ended 06/30/2025

**SEC File Number:** 028-16374

**CRD Number (if any):** —

**Other SEC File Number (if any):** —

**LEI (if any):** —

**Report Type (check only one):**

Institutional Manager.

- [x] Institutional Manager Voting Report

- [ ] Institutional Manager Notice Report

- [ ] Institutional Manager Combination Report

Registered Management Investment Company.

- [ ] Fund Voting Report

- [ ] Fund Notice Report

**Do you wish to provide explanatory information pursuant to Special Instruction B.4?:**

- [x] No

- [ ] Yes

**Additional information:** —

## N-PX: Summary - Included Managers

**Number of Included Institutional Managers:** 0

**Included Institutional Managers:** —

## FORM N-PX PROXY VOTING RECORD

| NAME OF ISSUER                    | CUSIP     | MEETING DATE   | VOTE DESCRIPTION                                                                                                                                                                                                                                                                                                           | VOTE CATEGORY                |   SHARES VOTED |   SHARES ON LOAN | HOW VOTED   |   SHARES VOTED FOR OR AGAINST MANAGEMENT | FOR OR AGAINST MANAGEMENT   | OTHER INFO   |
|:---|:---|:---|:---|:---|---:|---:|:---|---:|:---|:---|
| AGNC INVESTMENT CORP.             | 00123Q104 | 04/17/2025     | Advisory vote to approve the compensation of our named executive officers                                                                                                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |          33377 |                0 | FOR         |                                    33377 | FOR                         |  |
| ALEXANDRIA REAL ESTATE EQUITIES   | 015271109 | 05/13/2025     | To cast a non-binding, advisory vote on a resolution to approve the compensation of the Company's named executive officers, as more particularly described in the accompanying Proxy Statement.                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |           5532 |                0 | FOR         |                                     5532 | FOR                         |  |
| AMERICAN HOMES 4 RENT             | 02665T306 | 05/07/2025     | Advisory Vote to Approve American Homes 4 Rent's Named Executive Officer Compensation.                                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |          70180 |                0 | FOR         |                                    70180 | FOR                         |  |
| AMERICAN TOWER CORPORATION        | 03027X100 | 05/14/2025     | To approve, on an advisory basis, the Company's executive compensation.                                                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |         100621 |                0 | FOR         |                                   100621 | FOR                         |  |
| AMERICOLD REALTY TRUST            | 03064D108 | 05/20/2025     | Advisory Vote on Compensation of Named Executive Officers (Say-On-Pay).                                                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |         103820 |                0 | FOR         |                                   103820 | FOR                         |  |
| ANNALY CAPITAL MANAGEMENT,INC.    | 035710839 | 05/14/2025     | Advisory approval of the Company's executive compensation.                                                                                                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |          56130 |                0 | FOR         |                                    56130 | FOR                         |  |
| AVALONBAY COMMUNITIES, INC.       | 053484101 | 05/21/2025     | To adopt a resolution approving, on a non-binding advisory basis, the compensation paid to the Company's Named Executive Officers, as disclosed pursuant to Item 402 of Regulation S-K, including the Compensation Discussion and Analysis, compensation tables and any related material disclosed in the proxy statement. | SECTION 14A SAY-ON-PAY VOTES |           4608 |                0 | FOR         |                                     4608 | FOR                         |  |
| CADIZ, INC.                       | 127537207 | 06/12/2025     | Advisory vote on executive compensation as disclosed in the proxy materials                                                                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |        1897217 |                0 | FOR         |                                  1897217 | FOR                         |  |
| CBRE GROUP, INC.                  | 12504L109 | 05/21/2025     | Advisory vote to approve named executive officer compensation for 2024                                                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |          10594 |                0 | FOR         |                                    10594 | FOR                         |  |
| COSTAR GROUP, INC.                | 22160N109 | 06/26/2025     | Proposal to approve, on an advisory basis, the Company's executive compensation                                                                                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |          15171 |                0 | FOR         |                                    15171 | FOR                         |  |
| CROWN CASTLE INTERNATIONAL CORP   | 22822V101 | 05/21/2025     | The non-binding, advisory vote to approve the compensation of the Company's named executive officers.                                                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |         104006 |                0 | FOR         |                                   104006 | FOR                         |  |
| CUBESMART                         | 229663109 | 05/20/2025     | To cast an advisory vote to approve our executive compensation.                                                                                                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |          64745 |                0 | FOR         |                                    64745 | FOR                         |  |
| DIGITAL REALTY TRUST, INC.        | 253868822 | 06/06/2025     | To approve, on a non-binding, advisory basis, the compensation of the Company's named executive officers, as more fully described in the accompanying Proxy Statement (Say-on-Pay).                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |          56511 |                0 | FOR         |                                    56511 | FOR                         |  |
| EQUINIX, INC.                     | 29444U700 | 05/21/2025     | Approval, by a non-binding advisory vote, of the compensation of our named executive officers.                                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |          17288 |                0 | FOR         |                                    17288 | FOR                         |  |
| EQUITY LIFESTYLE PROPERTIES, INC. | 29472R108 | 04/29/2025     | Approval on a non-binding, advisory basis of our executive compensation as disclosed in the Proxy Statement.                                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |          45871 |                0 | FOR         |                                    45871 | FOR                         |  |
| EQUITY RESIDENTIAL                | 29476L107 | 06/26/2025     | Approval of Executive Compensation                                                                                                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |          11577 |                0 | FOR         |                                    11577 | FOR                         |  |
| EXTRA SPACE STORAGE INC.          | 30225T102 | 05/20/2025     | Advisory vote on the compensation of the Company's named executive officers.                                                                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |          39023 |                0 | FOR         |                                    39023 | FOR                         |  |
| FTAI AVIATION LTD.                | G3730V105 | 05/29/2025     | Approval, on a non-binding advisory basis, the compensation of our named executive officers.                                                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |         149929 |                0 | FOR         |                                   149929 | FOR                         |  |
| FTAI AVIATION LTD.                | G3730V105 | 05/29/2025     | Approval, on a non-binding advisory basis, the frequency of future advisory votes to approve the compensation of our named executive officers                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |         149929 |                0 | 1 YEAR      |                                   149929 | FOR                         |  |
| GE VERNOVA INC.                   | 36828A101 | 05/14/2025     | Approve the compensation of our named executives officers in an advisory vote                                                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |          13703 |                0 | FOR         |                                    13703 | FOR                         |  |
| GE VERNOVA INC.                   | 36828A101 | 05/14/2025     | Approve the frequency of future advisory votes on named executive officers compensation in an advisory vote                                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |          13703 |                0 | 1 YEAR      |                                    13703 | FOR                         |  |
| INVITATION HOMES INC.             | 46187W107 | 05/15/2025     | To approve, in a non-binding advisory vote, the compensation paid to our named executive officers.                                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |         122633 |                0 | FOR         |                                   122633 | FOR                         |  |
| INVITATION HOMES INC.             | 46187W107 | 05/15/2025     | To determine, in a non-binding advisory vote, the frequency of stockholder votes to approve executive compensation                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |         122633 |                0 | 1 YEAR      |                                   122633 | FOR                         |  |
| IRON MOUNTAIN INC.                | 46284V101 | 05/29/2025     | The approval of a non-binding, advisory resolution approving the compensation of our named executive officers as described in the Iron Mountain Incorporated Proxy Statement                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |          57193 |                0 | FOR         |                                    57193 | FOR                         |  |
| KIRBY CORPORATION                 | 497266106 | 04/29/2025     | Advisory vote on the approval of the compensation of Kirby's named executive officers                                                                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |          46108 |                0 | FOR         |                                    46108 | FOR                         |  |
| MGM RESORTS                       | 552953101 | 05/07/2025     | To approve, on an advisory basis, the compensation of the named executive officers.                                                                                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |         226861 |                0 | FOR         |                                   226861 | FOR                         |  |
| PROLOGIS INC                      | 74340W103 | 05/08/2025     | Advisory Vote to Approve the Company's Executive Compensation for 2024.                                                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |          26159 |                0 | FOR         |                                    26159 | FOR                         |  |
| PUBLIC STORAGE                    | 74460D109 | 05/07/2025     | Advisory resolution to approve the compensation of the Company's Named Executive Officers.                                                                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |           4225 |                0 | FOR         |                                     4225 | FOR                         |  |
| REXFORD INDUSTRIAL REALTY, INC    | 76169C100 | 06/03/2025     | The advisory resolution to approve the Company's named executive officer compensation for the fiscal year ended December 31, 2025, as described in the Rexford Industrial Realty, Inc. Proxy Statement                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |          10379 |                0 | FOR         |                                    10379 | FOR                         |  |
| SBA COMMUNICATIONS CORPORATION    | 78388J106 | 05/23/2025     | Approval, on an advisory basis, of the compensation of SBA's named executive officers.                                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |          23117 |                0 | FOR         |                                    23117 | FOR                         |  |
| SIMON PROPERTY GROUP              | 828806109 | 05/14/2025     | Advisory Vote to Approve the Compensation of our Named Executive Officers.                                                                                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |          67102 |                0 | FOR         |                                    67102 | FOR                         |  |
| SUN COMMUNITIES                   | 866674106 | 05/14/2025     | To approve, by a non-binding advisory vote, executive compensation.                                                                                                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |          25964 |                0 | FOR         |                                    25964 | FOR                         |  |
| THE MACERICH COMPANY              | 554382101 | 06/02/2025     | Advisory vote to approve our named executive officer compensation as described in our Proxy Statement                                                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |         557932 |                0 | FOR         |                                   557932 | FOR                         |  |
| VENTAS                            | 92276F100 | 05/13/2025     | Approve, on an advisory basis, the compensation of our named executive officers.                                                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |          81074 |                0 | FOR         |                                    81074 | FOR                         |  |
| VICI PROPERTIES INC               | 925652109 | 04/29/2025     | To approve (on a non-binding, advisory basis) the compensation of our named executive officers                                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |          33979 |                0 | FOR         |                                    33979 | FOR                         |  |
| WELLTOWER INC.                    | 95040Q104 | 05/22/2025     | The approval, on an advisory basis, of the compensation of the named executive officers                                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |           9346 |                0 | FOR         |                                     9346 | FOR                         |  |
| WEYERHAEUSER                      | 962166104 | 05/10/2025     | Approval, on an advisory basis, of the compensation of the named executive officers                                                                                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |           9346 |                0 | FOR         |                                     9346 | FOR                         |  |
| WYNN RESORTS                      | 983134107 | 04/30/2025     | To approve, on a non-binding advisory basis, the compensation of our named executive officers as described in the Proxy Statement                                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |          78225 |                0 | FOR         |                                    78225 | FOR                         |  |

## N-PX: Signature Block

**Reporting Person:** American Assets Capital Advisers, LLC

**By (Signature):** Julie Schwartz

**By (Printed Signature):** Julie Schwartz

**By (Title):** Senior Vice President and General Counsel

**Date:** 08/15/2025