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CENTERSQUARE INVESTMENT MANAGEMENT LLC

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13F filer, CIK 1725296, CONSHOHOCKEN, PA

CENTERSQUARE INVESTMENT MANAGEMENT LLC reported $10,132,155,462 across 81 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-12. Its ten largest share positions make up 52.47% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001725296-26-000002

Period
2025-12-31
Reported value
$10.1B
Holdings
81
Top 10 weight
52.47%
New
7
Sold out
6

Largest buys vs the previous quarter

SecurityShares changeApprox. value
PSAadded+290,360$75.3M
MACadded+3,808,336$70.3M
BRXadded+2,275,242$59.7M
WELLadded+284,812$52.9M
SBRAnew+2,654,480$50.3M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
DOCreduced-8,901,289-$143M
FRTreduced-663,213-$66.9M
NNNexited-1,420,526-$60.5M
HSTreduced-1,961,795-$34.8M
VMRKreduced-448,228-$28.3M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001725296-26-000002, largest first. % of portfolio is the value over $10,132,155,462, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
WELLWELLTOWER INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,166,733 shares; 2024Q4: 4,894,411 shares; 2025Q1: 4,962,246 shares; 2025Q2: 4,998,210 shares; 2025Q3: 5,257,190 shares; 2025Q4: 5,542,002 shares 5,542,002$1.03B10.15%+284,812Timeline
PLDPROLOGIS INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,455,360 shares; 2024Q4: 6,391,033 shares; 2025Q1: 6,708,300 shares; 2025Q2: 6,792,210 shares; 2025Q3: 6,525,094 shares; 2025Q4: 6,599,019 shares 6,599,019$842M8.31%+73,925Timeline
EQIXEQUINIX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 918,530 shares; 2024Q4: 854,186 shares; 2025Q1: 885,983 shares; 2025Q2: 898,861 shares; 2025Q3: 885,960 shares; 2025Q4: 893,230 shares 893,230$684M6.75%+7,270Timeline
DLRDIGITAL RLTY TR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,038,105 shares; 2024Q4: 2,953,058 shares; 2025Q1: 3,035,478 shares; 2025Q2: 2,969,099 shares; 2025Q3: 3,118,869 shares; 2025Q4: 3,301,513 shares 3,301,513$511M5.04%+182,644Timeline
VTRVENTAS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,887,537 shares; 2024Q4: 6,832,026 shares; 2025Q1: 6,843,065 shares; 2025Q2: 7,006,557 shares; 2025Q3: 6,484,117 shares; 2025Q4: 6,491,417 shares 6,491,417$502M4.96%+7,300Timeline
EXREXTRA SPACE STORAGE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,504,988 shares; 2024Q4: 2,392,766 shares; 2025Q1: 2,645,359 shares; 2025Q2: 2,693,408 shares; 2025Q3: 2,920,697 shares; 2025Q4: 3,034,077 shares 3,034,077$395M3.9%+113,380Timeline
PSAPUBLIC STORAGEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 834,823 shares; 2024Q4: 759,484 shares; 2025Q1: 862,916 shares; 2025Q2: 830,237 shares; 2025Q3: 1,145,607 shares; 2025Q4: 1,435,967 shares 1,435,967$373M3.68%+290,360Timeline
UDRUDR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 9,295,097 shares; 2024Q4: 8,993,217 shares; 2025Q1: 8,423,229 shares; 2025Q2: 8,927,273 shares; 2025Q3: 8,796,358 shares; 2025Q4: 9,389,350 shares 9,389,350$344M3.4%+592,992Timeline
BRXBRIXMOR PPTY GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,278,875 shares; 2024Q4: 8,191,779 shares; 2025Q1: 8,049,652 shares; 2025Q2: 10,438,616 shares; 2025Q3: 10,109,284 shares; 2025Q4: 12,384,526 shares 12,384,526$325M3.2%+2,275,242Timeline
CPTCAMDEN PPTY TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,177,067 shares; 2024Q4: 2,522,398 shares; 2025Q1: 2,614,150 shares; 2025Q2: 2,691,575 shares; 2025Q3: 2,730,472 shares; 2025Q4: 2,828,602 shares 2,828,602$311M3.07%+98,130Timeline
SPGSIMON PPTY GROUP INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,758,820 shares; 2024Q4: 1,655,351 shares; 2025Q1: 1,618,038 shares; 2025Q2: 1,585,293 shares; 2025Q3: 1,523,981 shares; 2025Q4: 1,531,581 shares 1,531,581$284M2.8%+7,600Timeline
KIMKIMCO REALTY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 13,852,588 shares; 2024Q4: 8,266,971 shares; 2025Q1: 9,000,485 shares; 2025Q2: 11,746,912 shares; 2025Q3: 11,935,173 shares; 2025Q4: 12,905,449 shares 12,905,449$262M2.58%+970,276Timeline
OREALTY INCOME CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,720,919 shares; 2024Q4: 3,915,283 shares; 2025Q1: 4,971,123 shares; 2025Q2: 4,605,962 shares; 2025Q3: 4,081,551 shares; 2025Q4: 4,346,751 shares 4,346,751$245M2.42%+265,200Timeline
ADCAGREE RLTY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,538,327 shares; 2024Q4: 2,197,319 shares; 2025Q1: 2,431,960 shares; 2025Q2: 2,844,960 shares; 2025Q3: 2,896,229 shares; 2025Q4: 3,299,172 shares 3,299,172$238M2.35%+402,943Timeline
IRMIRON MTN INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,747,219 shares; 2024Q4: 1,706,252 shares; 2025Q1: 2,008,437 shares; 2025Q2: 2,030,916 shares; 2025Q3: 2,514,464 shares; 2025Q4: 2,631,453 shares 2,631,453$218M2.15%+116,989Timeline
KRGKITE REALTY GROUP TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,551,630 shares; 2025Q1: 5,960,072 shares; 2025Q2: 7,397,582 shares; 2025Q3: 8,130,960 shares; 2025Q4: 8,236,790 shares 8,236,790$197M1.95%+105,830Timeline
AMHAMERICAN HOMES 4 RENTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 432,976 shares; 2024Q4: 475,800 shares; 2025Q1: 1,825,434 shares; 2025Q2: 4,188,308 shares; 2025Q3: 5,271,280 shares; 2025Q4: 6,135,358 shares 6,135,358$197M1.94%+864,078Timeline
INVHINVITATION HOMES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 9,028,101 shares; 2024Q4: 12,898,533 shares; 2025Q1: 10,853,109 shares; 2025Q2: 6,904,764 shares; 2025Q3: 6,375,385 shares; 2025Q4: 6,552,879 shares 6,552,879$182M1.8%+177,494Timeline
FRFIRST INDL RLTY TR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,719,340 shares; 2024Q4: 2,674,565 shares; 2025Q1: 2,379,896 shares; 2025Q2: 2,499,328 shares; 2025Q3: 2,397,107 shares; 2025Q4: 2,649,757 shares 2,649,757$152M1.5%+252,650Timeline
CUZCOUSINS PPTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,015,246 shares; 2024Q4: 5,600,905 shares; 2025Q1: 5,183,579 shares; 2025Q2: 5,535,661 shares; 2025Q3: 5,668,140 shares; 2025Q4: 5,847,176 shares 5,847,176$151M1.49%+179,036Timeline
OHIOMEGA HEALTHCARE INVS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,024,124 shares; 2024Q4: 2,705,265 shares; 2025Q1: 2,124,230 shares; 2025Q2: 3,598,740 shares; 2025Q3: 3,300,195 shares; 2025Q4: 3,347,215 shares 3,347,215$148M1.46%+47,020Timeline
ELSEQUITY LIFESTYLE PROPERTIESQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 108,030 shares; 2024Q4: 108,687 shares; 2025Q1: 108,030 shares; 2025Q2: 77,030 shares; 2025Q3: 1,963,378 shares; 2025Q4: 2,433,155 shares 2,433,155$147M1.46%+469,777Timeline
ESSESSEX PPTY TR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 99,950 shares; 2024Q4: 100,100 shares; 2025Q1: 88,598 shares; 2025Q2: 90,106 shares; 2025Q3: 516,756 shares; 2025Q4: 548,017 shares 548,017$143M1.42%+31,261Timeline
AHRAMERICAN HEALTHCARE REIT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,100,878 shares; 2024Q4: 3,799,365 shares; 2025Q1: 3,539,273 shares; 2025Q2: 3,396,303 shares; 2025Q3: 3,102,843 shares; 2025Q4: 3,021,872 shares 3,021,872$142M1.4%-80,971Timeline
VMRKVIVMARK RESIDENTIALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,581,801 shares; 2024Q4: 4,458,033 shares; 2025Q1: 4,277,430 shares; 2025Q2: 4,137,618 shares; 2025Q3: 2,686,937 shares; 2025Q4: 2,238,709 shares 2,238,709$141M1.39%-448,228Timeline
HSTHOST HOTELS & RESORTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 9,838,186 shares; 2024Q4: 11,052,156 shares; 2025Q1: 11,235,809 shares; 2025Q2: 10,712,469 shares; 2025Q3: 9,754,354 shares; 2025Q4: 7,792,559 shares 7,792,559$138M1.36%-1,961,795Timeline
VICIVICI PPTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,315,696 shares; 2024Q4: 8,119,987 shares; 2025Q1: 3,941,964 shares; 2025Q2: 4,226,758 shares; 2025Q3: 4,299,483 shares; 2025Q4: 4,173,251 shares 4,173,251$117M1.16%-126,232Timeline
MACMACERICH COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,271,398 shares; 2024Q4: 2,015,438 shares; 2025Q1: 2,082,086 shares; 2025Q2: 2,338,930 shares; 2025Q3: 2,546,325 shares; 2025Q4: 6,354,661 shares 6,354,661$117M1.16%+3,808,336Timeline
BXPBXP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,530,523 shares; 2024Q4: 2,536,118 shares; 2025Q1: 2,514,277 shares; 2025Q2: 2,032,390 shares; 2025Q3: 1,823,510 shares; 2025Q4: 1,735,946 shares 1,735,946$117M1.16%-87,564Timeline
REXRREXFORD INDL RLTY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,394,817 shares; 2024Q4: 4,492,166 shares; 2025Q1: 4,808,035 shares; 2025Q2: 4,327,837 shares; 2025Q3: 3,022,339 shares; 2025Q4: 2,862,569 shares 2,862,569$111M1.09%-159,770Timeline
HRHEALTHCARE RLTY TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,824,518 shares; 2025Q2: 4,347,618 shares; 2025Q3: 4,325,248 shares; 2025Q4: 5,970,456 shares 5,970,456$101M1%+1,645,208Timeline
VNOVORNADO RLTY TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,387,058 shares; 2024Q4: 1,963,180 shares; 2025Q1: 2,595,901 shares; 2025Q2: 3,129,938 shares; 2025Q3: 3,172,261 shares; 2025Q4: 3,003,497 shares 3,003,497$100M0.99%-168,764Timeline
NHINATIONAL HEALTH INVS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 290,247 shares; 2024Q4: 394,433 shares; 2025Q1: 495,971 shares; 2025Q2: 810,298 shares; 2025Q3: 986,708 shares; 2025Q4: 1,154,060 shares 1,154,060$88.1M0.87%+167,352Timeline
DOCHEALTHPEAK PROPERTIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,816,746 shares; 2024Q4: 11,215,516 shares; 2025Q1: 13,285,932 shares; 2025Q2: 14,759,095 shares; 2025Q3: 14,127,673 shares; 2025Q4: 5,226,384 shares 5,226,384$84M0.83%-8,901,289Timeline
AREALEXANDRIA REAL ESTATE EQ INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 939,002 shares; 2024Q4: 531,262 shares; 2025Q1: 523,158 shares; 2025Q2: 548,418 shares; 2025Q3: 578,318 shares; 2025Q4: 1,602,065 shares 1,602,065$78.4M0.77%+1,023,747Timeline
EGPEASTGROUP PPTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 369,580 shares; 2024Q4: 461,533 shares; 2025Q1: 55,722 shares; 2025Q2: 41,300 shares; 2025Q3: 297,319 shares; 2025Q4: 422,290 shares 422,290$75.2M0.74%+124,971Timeline
DRHDIAMONDROCK HOSPITALITY COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,449,416 shares; 2024Q4: 5,283,922 shares; 2025Q1: 5,967,761 shares; 2025Q2: 7,109,508 shares; 2025Q3: 7,536,975 shares; 2025Q4: 7,780,988 shares 7,780,988$69.7M0.69%+244,013Timeline
BNLBROADSTONE NET LEASE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,745,991 shares; 2024Q4: 4,011,419 shares; 2025Q1: 3,954,526 shares; 2025Q2: 4,906,185 shares; 2025Q3: 5,052,587 shares; 2025Q4: 3,718,684 shares 3,718,684$64.6M0.64%-1,333,903Timeline
NTSTNETSTREIT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,499,848 shares; 2024Q4: 1,929,490 shares; 2025Q1: 2,388,977 shares; 2025Q2: 2,563,155 shares; 2025Q3: 3,533,415 shares; 2025Q4: 3,653,585 shares 3,653,585$64.4M0.64%+120,170Timeline
AMTAMERICAN TOWER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 483,511 shares; 2024Q4: 426,252 shares; 2025Q1: 554,287 shares; 2025Q2: 428,897 shares; 2025Q3: 369,506 shares; 2025Q4: 353,536 shares 353,536$62.1M0.61%-15,970Timeline
FRTFEDERAL RLTY INVT TR NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 100,602 shares; 2024Q4: 1,042,016 shares; 2025Q1: 1,211,041 shares; 2025Q2: 1,243,548 shares; 2025Q3: 1,270,854 shares; 2025Q4: 607,641 shares 607,641$61.3M0.6%-663,213Timeline
SBRASABRA HEALTH CARE REIT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 2,654,480 shares 2,654,480$50.3M0.5%newTimeline
IVTINVENTRUST PPTYS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,248,411 shares; 2024Q4: 880,633 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 183,894 shares; 2025Q4: 1,287,805 shares 1,287,805$36.3M0.36%+1,103,911Timeline
SLGSL GREEN RLTY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 670,360 shares 670,360$30.7M0.3%newTimeline
COLDAMERICOLD REALTY TRUST INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,359,321 shares; 2024Q4: 3,796,662 shares; 2025Q1: 3,722,935 shares; 2025Q2: 3,728,925 shares; 2025Q3: 3,295,782 shares; 2025Q4: 2,320,182 shares 2,320,182$29.8M0.29%-975,600Timeline
PDMPIEDMONT REALTY TRUST INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,348,706 shares; 2025Q4: 3,429,364 shares 3,429,364$28.6M0.28%+2,080,658Timeline
DEIDOUGLAS EMMETT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,976,712 shares; 2024Q4: 1,255,020 shares; 2025Q1: 53,000 shares; 2025Q2: 1,645,280 shares; 2025Q3: 1,641,820 shares; 2025Q4: 2,539,450 shares 2,539,450$27.9M0.28%+897,630Timeline
LAMRLAMAR ADVERTISING COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 591,375 shares; 2024Q4: 603,010 shares; 2025Q1: 655,886 shares; 2025Q2: 297,724 shares; 2025Q3: 289,004 shares; 2025Q4: 212,044 shares 212,044$26.8M0.26%-76,960Timeline
CCICROWN CASTLE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 130,737 shares; 2024Q4: 59,060 shares; 2025Q1: 57,510 shares; 2025Q2: 55,360 shares; 2025Q3: 183,950 shares; 2025Q4: 301,350 shares 301,350$26.8M0.26%+117,400Timeline
REGREGENCY CTRS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 339,834 shares; 2024Q4: 461,925 shares; 2025Q1: 399,700 shares; 2025Q2: 332,966 shares; 2025Q3: 351,963 shares; 2025Q4: 352,034 shares 352,034$24.3M0.24%+71Timeline
RHPRYMAN HOSPITALITY PPTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 236,520 shares; 2024Q4: 65,780 shares; 2025Q1: 61,180 shares; 2025Q2: 38,294 shares; 2025Q3: 52,590 shares; 2025Q4: 248,030 shares 248,030$23.5M0.23%+195,440Timeline
ESRTEMPIRE ST RLTY TR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 44,613 shares; 2025Q1: 2,805,998 shares; 2025Q2: 2,848,359 shares; 2025Q3: 3,475,569 shares; 2025Q4: 3,524,489 shares 3,524,489$23M0.23%+48,920Timeline
MAAMID-AMER APT CMNTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 118,650 shares; 2024Q4: 118,650 shares; 2025Q1: 412,895 shares; 2025Q2: 124,150 shares; 2025Q3: 178,050 shares; 2025Q4: 159,582 shares 159,582$22.2M0.22%-18,468Timeline
AVBAVALONBAY CMNTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 115,976 shares; 2024Q4: 115,790 shares; 2025Q1: 115,790 shares; 2025Q2: 115,790 shares; 2025Q3: 118,290 shares; 2025Q4: 118,290 shares 118,290$21.4M0.21%0Timeline
SBACSBA COMMUNICATIONS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 225,151 shares; 2024Q4: 192,777 shares; 2025Q1: 170,147 shares; 2025Q2: 161,687 shares; 2025Q3: 154,065 shares; 2025Q4: 96,447 shares 96,447$18.7M0.18%-57,618Timeline
LINELINEAGE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,190,210 shares; 2024Q4: 1,288,601 shares; 2025Q1: 1,262,475 shares; 2025Q2: 1,253,175 shares; 2025Q3: 699,550 shares; 2025Q4: 531,490 shares 531,490$18.6M0.18%-168,060Timeline
DHCDIVERSIFIED HEALTHCARE TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,447,333 shares; 2025Q4: 3,229,172 shares 3,229,172$15.7M0.15%+1,781,839Timeline
SHOSUNSTONE HOTEL INVS INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,322,042 shares; 2025Q1: 1,443,154 shares; 2025Q2: 2,571,542 shares; 2025Q3: 1,398,076 shares; 2025Q4: 1,517,366 shares 1,517,366$13.6M0.13%+119,290Timeline
RLJRLJ LODGING TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,779,010 shares 1,779,010$13.3M0.13%newTimeline
WYWEYERHAEUSER COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 588,709 shares; 2024Q4: 442,549 shares; 2025Q1: 435,839 shares; 2025Q2: 412,239 shares; 2025Q3: 463,179 shares; 2025Q4: 454,969 shares 454,969$10.8M0.11%-8,210Timeline
VTMXVESTA REAL ESTATE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 407,592 shares; 2024Q4: 442,212 shares; 2025Q1: 305,752 shares; 2025Q2: 348,992 shares; 2025Q3: 366,102 shares; 2025Q4: 330,340 shares 330,340$10.1M0.1%-35,762Timeline
STAGSTAG INDUSTRIAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 145,800 shares; 2024Q4: 145,800 shares; 2025Q1: 184,800 shares; 2025Q2: 184,800 shares; 2025Q3: 184,800 shares; 2025Q4: 184,800 shares 184,800$6.79M0.07%0Timeline
SUISUN CMNTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,058,368 shares; 2024Q4: 1,550,228 shares; 2025Q1: 851,000 shares; 2025Q2: 616,243 shares; 2025Q3: 51,323 shares; 2025Q4: 51,323 shares 51,323$6.36M0.06%0Timeline
HLTHILTON WORLDWIDE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 20,150 shares 20,150$5.79M0.06%newTimeline
XHRXENIA HOTELS & RESORTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 736,337 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 332,956 shares 332,956$4.71M0.05%newTimeline
TRNOTERRENO RLTY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 82,328 shares; 2024Q4: 61,200 shares; 2025Q1: 59,358 shares; 2025Q2: 59,467 shares; 2025Q3: 56,200 shares; 2025Q4: 56,200 shares 56,200$3.3M0.03%0Timeline
LXPLXP INDUSTRIAL TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 64,960 shares 64,960$3.22M0.03%newTimeline
KRCKILROY REALTY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,688,613 shares; 2024Q4: 1,289,841 shares; 2025Q1: 90,991 shares; 2025Q2: 86,491 shares; 2025Q3: 82,995 shares; 2025Q4: 73,170 shares 73,170$2.73M0.03%-9,825Timeline
PEBBLEBROOK HOTEL TRPEBBLEBROOK HOTEL TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 127,246 shares; 2025Q2: 127,246 shares; 2025Q3: 127,246 shares; 2025Q4: 127,246 shares 127,246$2.43M0.02%0
CBRECBRE GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 63,580 shares; 2024Q4: 10,900 shares; 2025Q1: 10,020 shares; 2025Q2: 9,140 shares; 2025Q3: 10,400 shares; 2025Q4: 10,470 shares 10,470$1.68M0.02%+70Timeline
CDPCOPT DEFENSE PROPERTIESQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 54,450 shares; 2024Q4: 71,882 shares; 2025Q1: 72,140 shares; 2025Q2: 70,500 shares; 2025Q3: 72,000 shares; 2025Q4: 57,000 shares 57,000$1.58M0.02%-15,000Timeline
FVRFRONTVIEW REIT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 87,590 shares; 2025Q1: 164,484 shares; 2025Q2: 183,220 shares; 2025Q3: 184,370 shares; 2025Q4: 94,290 shares 94,290$1.39M0.01%-90,080Timeline
IRTINDEPENDENCE RLTY TR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 99,000 shares; 2024Q4: 79,000 shares; 2025Q1: 79,000 shares; 2025Q2: 1,850,950 shares; 2025Q3: 79,000 shares; 2025Q4: 79,000 shares 79,000$1.38M0.01%0Timeline
DBRGDIGITALBRIDGE GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 151,140 shares; 2024Q4: 166,000 shares; 2025Q1: 174,000 shares; 2025Q2: 142,500 shares; 2025Q3: 140,700 shares; 2025Q4: 52,000 shares 52,000$798K0.01%-88,700Timeline
PEBBLEBROOK HOTEL TRPEBBLEBROOK HOTEL TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 40,594 shares; 2025Q2: 40,594 shares; 2025Q3: 40,594 shares; 2025Q4: 40,594 shares 40,594$773K0.01%0
ELMEELME COMMUNITIESQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 53,400 shares; 2024Q4: 109,800 shares; 2025Q1: 78,900 shares; 2025Q2: 878,725 shares; 2025Q3: 773,830 shares; 2025Q4: 39,320 shares 39,320$684K0.01%-734,510Timeline
EPRTESSENTIAL PPTYS RLTY TR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,649 shares; 2024Q4: 22,563 shares; 2025Q1: 22,591 shares; 2025Q2: 23,093 shares; 2025Q3: 22,923 shares; 2025Q4: 16,944 shares 16,944$503K<0.01%-5,979Timeline
NEENEXTERA ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 13,900 shares; 2024Q4: 13,900 shares; 2025Q1: 8,500 shares; 2025Q2: 8,500 shares; 2025Q3: 6,500 shares; 2025Q4: 5,250 shares 5,250$421K<0.01%-1,250Timeline
JLLJONES LANG LASALLE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 9,770 shares; 2024Q4: 1,200 shares; 2025Q1: 1,080 shares; 2025Q2: 990 shares; 2025Q3: 1,110 shares; 2025Q4: 1,120 shares 1,120$377K<0.01%+10Timeline
FCPTFOUR CORNERS PPTY TR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,546 shares; 2024Q4: 21,666 shares; 2025Q1: 21,666 shares; 2025Q2: 21,666 shares; 2025Q3: 22,695 shares; 2025Q4: 15,430 shares 15,430$356K<0.01%-7,265Timeline
ZGZILLOW GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,320 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 5,040 shares 5,040$344K<0.01%newTimeline

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
NNNNNN REIT INC1,420,526$60.5Mshares
APLEAPPLE HOSPITALITY REIT INC1,024,590$12.3Mshares
HPPHUDSON PAC PPTYS INC2,855,185$7.88Mshares
LXPLXP INDUSTRIAL TRUST404,405$3.62Mshares
CSRCENTERSPACE14,600$860Kshares
CUBECUBESMART12,035$489Kshares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001725296-26-000002 base2026-02-12acceptance time not in the bulk data set