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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
+3.36%
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
$545M
AUM Growth
+$43.8M
Cap. Flow
+$26.3M
Cap. Flow %
4.83%
Top 10 Hldgs %
66%
Holding
27
New
6
Increased
8
Reduced
8
Closed
5

Top Buys

Rank Stock Value
1
FUN icon
Cedar Fair
FUN
+$42.1M
2
PLD icon
Prologis
PLD
+$23.1M
3
CSR
Centerspace
CSR
+$17M
4
CCI icon
Crown Castle
CCI
+$13.1M
5
SPG icon
Simon Property Group
SPG
+$10.7M

Top Sells

Rank Stock Value
1
REXR icon
Rexford Industrial Realty
REXR
+$20M
2
KRG icon
Kite Realty
KRG
+$18.3M
3
DHI icon
D.R. Horton
DHI
+$17.9M
4
AMT icon
American Tower
AMT
+$17.4M
5
OUT icon
Outfront Media
OUT
+$8.78M

Sector Composition

Rank Sector Weight
1 Real Estate 89.85%
2 Consumer Discretionary 10.15%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AHR icon
1
American Healthcare REIT
AHR
$10.2B
$48.4M 8.88%
1,151,953
+72,800
+7% +$2.93M
SPG icon
2
Simon Property Group
SPG
$71.2B
$38.7M 7.1%
206,225
+62,180
+43% +$10.7M
FR icon
3
First Industrial Realty Trust
FR
$8.31B
$36.6M 6.71%
710,521
-55,390
-7% -$2.78M
VTR icon
4
Ventas
VTR
$45.5B
$36.5M 6.71%
522,115
+32,700
+7% +$2.2M
FUN icon
5
Cedar Fair
FUN
$1.65B
$36M 6.61%
+1,585,580
New +$42.1M
CSR
6
Centerspace
CSR
$928M
$35.3M 6.48%
599,252
+294,086
+96% +$17M
NHI icon
7
National Health Investors
NHI
$3.4B
$34.7M 6.36%
435,866
-24,100
-5% -$1.8M
AMH icon
8
American Homes 4 Rent
AMH
$12.2B
$32.6M 5.99%
980,985
+191,085
+24% +$6.66M
SKT icon
9
Tanger
SKT
$4.43B
$30.5M 5.6%
902,401
+165,960
+23% +$5.41M
SUI icon
10
Sun Communities
SUI
$14.4B
$30.3M 5.56%
234,797
+41,050
+21% +$5.19M
EQIX icon
11
Equinix
EQIX
$102B
$25M 4.58%
31,865
-3,717
-10% -$2.9M
PLD icon
12
Prologis
PLD
$132B
$24M 4.41%
+209,960
New +$23.1M
CBRE icon
13
CBRE Group
CBRE
$42.6B
$22.4M 4.12%
142,339
-22,608
-14% -$3.5M
GLPI icon
14
Gaming and Leisure Properties
GLPI
$12.4B
$20.6M 3.78%
441,882
-98,638
-18% -$4.65M
EXR icon
15
Extra Space Storage
EXR
$30.8B
$19.4M 3.56%
137,562
-42,840
-24% -$6.15M
MAR icon
16
Marriott International
MAR
$90.9B
$19.3M 3.54%
74,077
-29,428
-28% -$7.9M
OUT icon
17
Outfront Media
OUT
$5.29B
$17.4M 3.2%
951,148
-483,628
-34% -$8.78M
CCI icon
18
Crown Castle
CCI
$31.6B
$12.5M 2.3%
+129,800
New +$13.1M
RHP icon
19
Ryman Hospitality Properties
RHP
$7.6B
$9.57M 1.76%
106,776
+4,429
+4% +$433K
ESRT icon
20
Empire State Realty Trust
ESRT
$812M
$7.77M 1.43%
+1,014,676
New +$7.76M
AVB icon
21
AvalonBay Communities
AVB
$26.1B
$3.72M 0.68%
+19,248
New +$3.75M
UDR icon
22
UDR
UDR
$12B
$3.57M 0.66%
+95,892
New +$3.74M
AMT icon
23
American Tower
AMT
$79.5B
– –
-78,538
Closed -$17.4M
DHI icon
24
D.R. Horton
DHI
$41.6B
– –
-139,159
Closed -$17.9M
EQR icon
25
Equity Residential
EQR
$24.6B
– –
-85,707
Closed -$5.78M
1
2

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Land & Buildings Investment Management's Q3 2025 Portfolio in Review

As of Q3 2025, Land & Buildings Investment Management held 27 positions worth $545M, up 8.7% from $501M the previous quarter. Its ten largest holdings account for 66% of the portfolio.

Land & Buildings Investment Management deployed $26.3M of net new capital in Q3 2025, opening 6 new positions and adding to 8 existing holdings. Its largest new stake was Cedar Fair: 1,585,580 shares worth $36M.

By sector, the portfolio is most concentrated in Real Estate at 90% of assets, down from 91% a quarter earlier, followed by Consumer Discretionary.

On the sell side, the largest reduction was Outfront Media, an estimated $8.78M trimmed.

  • Land & Buildings Investment Management's largest Q3 2025 buy was Cedar Fair: 1,585,580 shares worth $36M.
  • Land & Buildings Investment Management added most to Centerspace in Q3 2025, an estimated $17M increase.
  • Land & Buildings Investment Management's biggest Q3 2025 reduction was Outfront Media, cutting an estimated $8.78M.
  • Land & Buildings Investment Management fully exited Rexford Industrial Realty in Q3 2025, selling an estimated $20M.
  • Land & Buildings Investment Management's ten largest holdings make up 66% of its $545M portfolio in Q3 2025.
  • Land & Buildings Investment Management opened 6 new positions and closed 5 in Q3 2025.
  • Land & Buildings Investment Management's portfolio value rose 8.7% quarter-over-quarter to $545M.

Based on Land & Buildings Investment Management's 13F filing for Q3 2025, filed 14 Nov 2025.