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LBIM
Land & Buildings Investment Management Portfolio holdings
AUM
$591M
1-Year Est. Return
10.19%
This Fund
S&P 500
This Quarter
Est. Return
+5.54%
1 Year Est. Return
+10.19%
3 Year Est. Return
+42.74%
5 Year Est. Return
+59.01%
10 Year Est. Return
+203.53%
AUM
$432M
AUM Growth
-$31.8M
(-6.8%)
Cap. Flow
-$53.5M
Cap. Flow
% of AUM
-12.36%
Top 10 Holdings %
Top 10 Hldgs %
76.23%
Holding
24
New
5
Increased
5
Reduced
11
Closed
1
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Host Hotels & Resorts
HST
|
+$21.8M |
| 2 |
LSI
Life Storage, Inc.
LSI
|
+$20.7M |
| 3 |
Independence Realty Trust
IRT
|
+$11.5M |
| 4 |
iShares Core S&P Small-Cap ETF
IJR
|
+$11M |
| 5 |
Prologis
PLD
|
+$10.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SIX
Six Flags Entertainment Corp.
SIX
|
+$32M |
| 2 |
Public Storage
PSA
|
+$22.1M |
| 3 |
AvalonBay Communities
AVB
|
+$17.6M |
| 4 |
SBA Communications
SBAC
|
+$11.9M |
| 5 |
Rexford Industrial Realty
REXR
|
+$11.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 79.75% |
| 2 | Communication Services | 8.66% |
| 3 | Consumer Discretionary | 4.03% |
| 4 | Technology | 1.83% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
AIV
1
Aimco
AIV
$376M
| $72.8M | 16.82% |
9,460,718
+661,749
| +8% | +$4.93M |
|
|
2
Host Hotels & Resorts
HST
$15.3B
| $43.4M | 10.04% |
2,633,896
+1,280,803
| +95% | +$21.8M |
|
|
SIX
3
DELISTED
Six Flags Entertainment Corp.
SIX
| $37.4M | 8.66% |
1,401,741
-1,199,732
| -46% | -$32M |
|
|
AIRC
4
DELISTED
Apartment Income REIT Corp.
AIRC
| $36.4M | 8.41% |
1,015,107
-66,820
| -6% | -$2.45M |
|
|
5
Rexford Industrial Realty
REXR
$8.07B
| $26.7M | 6.18% |
448,337
-190,621
| -30% | -$11.4M |
|
6
Alexandria Real Estate Equities
ARE
$8.28B
| $26.6M | 6.14% |
211,473
+18,625
| +10% | +$2.74M |
|
7
Ventas
VTR
$44.6B
| $24.5M | 5.68% |
566,217
-230,620
| -29% | -$11.1M |
|
|
LSI
8
DELISTED
Life Storage, Inc.
LSI
| $23.4M | 5.42% |
+178,780
| New | +$20.7M |
|
9
American Homes 4 Rent
AMH
$12.2B
| $20M | 4.62% |
635,090
-309,130
| -33% | -$9.86M |
|
10
Sun Communities
SUI
$14.5B
| $18.4M | 4.26% |
130,706
-69,466
| -35% | -$10.2M |
|
|
ROIC
11
DELISTED
Retail Opportunity Investments Corp.
ROIC
| $17.9M | 4.13% |
1,280,473
+173,583
| +16% | +$2.52M |
|
12
Caesars Entertainment
CZR
$6.06B
| $13.6M | 3.15% |
279,510
-113,490
| -29% | -$5.56M |
|
|
13
Prologis
PLD
$133B
| $10.6M | 2.46% |
+85,286
| New | +$10.5M |
|
|
14
iShares Core S&P Small-Cap ETF
IJR
$112B
| $10.6M | 2.46% |
+109,900
| New | +$11M |
|
|
15
Independence Realty Trust
IRT
$3.93B
| $10.5M | 2.44% |
+657,350
| New | +$11.5M |
|
16
SmartRent
SMRT
$270M
| $7.92M | 1.83% |
3,105,293
-252,615
| -8% | -$677K |
|
|
17
Public Storage
PSA
$60.7B
| $7.45M | 1.72% |
24,662
-74,990
| -75% | -$22.1M |
|
|
18
SBA Communications
SBAC
$19.3B
| $6.16M | 1.42% |
23,593
-43,266
| -65% | -$11.9M |
|
19
Vanguard Long-Term Bond ETF
BLV
$5.7B
| $4.16M | 0.96% |
+54,300
| New | +$4.11M |
|
20
iShares 3-7 Year Treasury Bond ETF
IEI
$17.7B
| $3.8M | 0.88% |
32,300
| – | – |
|
21
D.R. Horton
DHI
$42.2B
| $3.79M | 0.88% |
38,820
-90,070
| -70% | -$8.59M |
|
22
Vanguard World Funds Extended Duration ETF
EDV
$3.47B
| $3.28M | 0.76% |
36,200
+2,000
| +6% | +$178K |
|
23
iShares Core US Aggregate Bond ETF
AGG
$137B
| $2.93M | 0.68% |
29,400
| – | – |
|
|
24
AvalonBay Communities
AVB
$26B
| – | – |
-108,919
| Closed | -$17.6M |
|
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BCM
Land & Buildings Investment Management's Q1 2023 Portfolio in Review
As of Q1 2023, Land & Buildings Investment Management held 24 positions worth $432M, down 6.8% from $464M the previous quarter. Its ten largest holdings account for 76% of the portfolio.
Land & Buildings Investment Management withdrew a net $53.5M in Q1 2023, closing 1 position and reducing 11 holdings. Its most notable exit was AvalonBay Communities, an estimated $17.6M position sold in full.
By sector, the portfolio is most concentrated in Real Estate at 80% of assets, up from 77% a quarter earlier, followed by Communication Services and Consumer Discretionary.
Against the trend, Land & Buildings Investment Management opened a new position in Life Storage, Inc. worth $23.4M.
- Land & Buildings Investment Management's largest Q1 2023 buy was Life Storage, Inc.: 178,780 shares worth $23.4M.
- Land & Buildings Investment Management added most to Host Hotels & Resorts in Q1 2023, an estimated $21.8M increase.
- Land & Buildings Investment Management's biggest Q1 2023 reduction was Six Flags Entertainment Corp., cutting an estimated $32M.
- Land & Buildings Investment Management fully exited AvalonBay Communities in Q1 2023, selling an estimated $17.6M.
- Land & Buildings Investment Management's ten largest holdings make up 76% of its $432M portfolio in Q1 2023.
- Land & Buildings Investment Management opened 5 new positions and closed 1 in Q1 2023.
- Land & Buildings Investment Management's portfolio value fell 6.8% quarter-over-quarter to $432M.
Based on Land & Buildings Investment Management's 13F filing for Q1 2023, filed 15 May 2023.