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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
+17.53%
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
$435M
AUM Growth
-$20.1M
Cap. Flow
-$83.1M
Cap. Flow %
-19.09%
Top 10 Hldgs %
81.73%
Holding
20
New
2
Increased
5
Reduced
9
Closed
4

Top Buys

Rank Stock Value
1
ADC icon
Agree Realty
ADC
+$23.5M
2
HLT icon
Hilton Worldwide
HLT
+$15.8M
3
VICI icon
VICI Properties
VICI
+$11.5M
4
NHI icon
National Health Investors
NHI
+$9.82M
5
SUI icon
Sun Communities
SUI
+$8.06M

Top Sells

Rank Stock Value
1
AIV
Aimco
AIV
+$49.3M
2
SIX
Six Flags Entertainment Corp.
SIX
+$32.5M
3
REXR icon
Rexford Industrial Realty
REXR
+$17.5M
4
CZR icon
Caesars Entertainment
CZR
+$17.3M
5
EQIX icon
Equinix
EQIX
+$14.3M

Sector Composition

Rank Sector Weight
1 Real Estate 93.67%
2 Consumer Discretionary 4.06%
3 Technology 2.26%
4 Communication Services 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TCN
1
DELISTED
Tricon Residential Inc.
TCN
$52.8M 12.13%
5,800,314
-398,866
-6% -$3.06M
VTR icon
2
Ventas
VTR
$45.5B
$47M 10.8%
942,612
+26,055
+3% +$1.17M
AIRC
3
DELISTED
Apartment Income REIT Corp.
AIRC
$40.9M 9.41%
1,178,289
-151,989
-11% -$4.76M
SUI icon
4
Sun Communities
SUI
$14.5B
$39.1M 8.99%
292,774
+66,932
+30% +$8.06M
SBAC icon
5
SBA Communications
SBAC
$19.3B
$38.4M 8.83%
151,505
+8,128
+6% +$1.82M
PLD icon
6
Prologis
PLD
$132B
$34.3M 7.87%
257,022
-2,171
-0.8% -$246K
VICI icon
7
VICI Properties
VICI
$28.6B
$30.8M 7.07%
964,710
+391,760
+68% +$11.5M
ADC icon
8
Agree Realty
ADC
$9.16B
$25.5M 5.86%
+404,690
New +$23.5M
EQIX icon
9
Equinix
EQIX
$102B
$23.9M 5.48%
29,624
-18,601
-39% -$14.3M
NHI icon
10
National Health Investors
NHI
$3.43B
$23M 5.29%
412,052
+185,377
+82% +$9.82M
SKT icon
11
Tanger
SKT
$4.45B
$18.1M 4.15%
651,757
-304,350
-32% -$7.57M
HLT icon
12
Hilton Worldwide
HLT
$70.5B
$17.7M 4.06%
+97,083
New +$15.8M
RHP icon
13
Ryman Hospitality Properties
RHP
$7.61B
$17.7M 4.06%
160,590
-19,740
-11% -$1.88M
AMH icon
14
American Homes 4 Rent
AMH
$12.2B
$13.6M 3.13%
378,693
-9,708
-2% -$339K
SMRT icon
15
SmartRent
SMRT
$270M
$9.85M 2.26%
3,087,270
-413,449
-12% -$1.21M
CBRE icon
16
CBRE Group
CBRE
$42.4B
$2.58M 0.59%
27,740
-60,495
-69% -$4.7M
AIV
17
Aimco
AIV
$383M
– –
-7,247,927
Closed -$49.3M
CZR icon
18
Caesars Entertainment
CZR
$6.09B
– –
-373,866
Closed -$17.3M
REXR icon
19
Rexford Industrial Realty
REXR
$8.11B
– –
-355,117
Closed -$17.5M
SIX
20
DELISTED
Six Flags Entertainment Corp.
SIX
– –
-1,383,986
Closed -$32.5M

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BBL
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1WCM
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BA
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EGWAG
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Land & Buildings Investment Management's Q4 2023 Portfolio in Review

As of Q4 2023, Land & Buildings Investment Management held 20 positions worth $435M, down 4.4% from $455M the previous quarter. Its ten largest holdings account for 82% of the portfolio.

Land & Buildings Investment Management withdrew a net $83.1M in Q4 2023, closing 4 positions and reducing 9 holdings. Its most notable exit was Aimco, an estimated $49.3M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 94% of assets, up from 87% a quarter earlier, followed by Consumer Discretionary and Technology.

Against the trend, Land & Buildings Investment Management opened a new position in Agree Realty worth $25.5M.

  • Land & Buildings Investment Management's largest Q4 2023 buy was Agree Realty: 404,690 shares worth $25.5M.
  • Land & Buildings Investment Management added most to VICI Properties in Q4 2023, an estimated $11.5M increase.
  • Land & Buildings Investment Management's biggest Q4 2023 reduction was Equinix, cutting an estimated $14.3M.
  • Land & Buildings Investment Management fully exited Aimco in Q4 2023, selling an estimated $49.3M.
  • Land & Buildings Investment Management's ten largest holdings make up 82% of its $435M portfolio in Q4 2023.
  • Land & Buildings Investment Management opened 2 new positions and closed 4 in Q4 2023.
  • Land & Buildings Investment Management's portfolio value fell 4.4% quarter-over-quarter to $435M.

Based on Land & Buildings Investment Management's 13F filing for Q4 2023, filed 14 Feb 2024.