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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
Cap. Flow
-$53.5M
Cap. Flow %
-12.36%
Top 10 Hldgs %
76.23%
Holding
24
New
5
Increased
5
Reduced
11
Closed
1

Top Buys

Rank Stock Value
1
HST icon
Host Hotels & Resorts
HST
+$21.8M
2
LSI
Life Storage, Inc.
LSI
+$20.7M
3
IRT icon
Independence Realty Trust
IRT
+$11.5M
4
IJR icon
iShares Core S&P Small-Cap ETF
IJR
+$11M
5
PLD icon
Prologis
PLD
+$10.5M

Top Sells

Rank Stock Value
1
SIX
Six Flags Entertainment Corp.
SIX
+$32M
2
PSA icon
Public Storage
PSA
+$22.1M
3
AVB icon
AvalonBay Communities
AVB
+$17.6M
4
SBAC icon
SBA Communications
SBAC
+$11.9M
5
REXR icon
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
$382M
$72.8M 16.82%
9,460,718
+661,749
+8% +$4.93M
HST icon
2
Host Hotels & Resorts
HST
$15.4B
$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
REXR icon
5
Rexford Industrial Realty
REXR
$8.09B
$26.7M 6.18%
448,337
-190,621
-30% -$11.4M
ARE icon
6
Alexandria Real Estate Equities
ARE
$8.34B
$26.6M 6.14%
211,473
+18,625
+10% +$2.74M
VTR icon
7
Ventas
VTR
$45.1B
$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
AMH icon
9
American Homes 4 Rent
AMH
$12.3B
$20M 4.62%
635,090
-309,130
-33% -$9.86M
SUI icon
10
Sun Communities
SUI
$14.6B
$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
CZR icon
12
Caesars Entertainment
CZR
$6.07B
$13.6M 3.15%
279,510
-113,490
-29% -$5.56M
PLD icon
13
Prologis
PLD
$133B
$10.6M 2.46%
+85,286
New +$10.5M
IJR icon
14
iShares Core S&P Small-Cap ETF
IJR
$112B
$10.6M 2.46%
+109,900
New +$11M
IRT icon
15
Independence Realty Trust
IRT
$3.94B
$10.5M 2.44%
+657,350
New +$11.5M
SMRT icon
16
SmartRent
SMRT
$274M
$7.92M 1.83%
3,105,293
-252,615
-8% -$677K
PSA icon
17
Public Storage
PSA
$60.8B
$7.45M 1.72%
24,662
-74,990
-75% -$22.1M
SBAC icon
18
SBA Communications
SBAC
$19.3B
$6.16M 1.42%
23,593
-43,266
-65% -$11.9M
BLV icon
19
Vanguard Long-Term Bond ETF
BLV
$5.7B
$4.16M 0.96%
+54,300
New +$4.11M
IEI icon
20
iShares 3-7 Year Treasury Bond ETF
IEI
$17.7B
$3.8M 0.88%
32,300
– –
DHI icon
21
D.R. Horton
DHI
$42.1B
$3.79M 0.88%
38,820
-90,070
-70% -$8.59M
EDV icon
22
Vanguard World Funds Extended Duration ETF
EDV
$3.47B
$3.28M 0.76%
36,200
+2,000
+6% +$178K
AGG icon
23
iShares Core US Aggregate Bond ETF
AGG
$138B
$2.93M 0.68%
29,400
– –
AVB icon
24
AvalonBay Communities
AVB
$26.1B
– –
-108,919
Closed -$17.6M

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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.