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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
+3.72%
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
$602M
AUM Growth
+$56.7M
Cap. Flow
+$44.4M
Cap. Flow %
7.38%
Top 10 Hldgs %
68.19%
Holding
24
New
2
Increased
9
Reduced
8
Closed
5

Top Buys

Rank Stock Value
1
NSA
National Storage Affiliates Trust
NSA
+$39.1M
2
EQIX icon
Equinix
EQIX
+$20.4M
3
CSR
Centerspace
CSR
+$14.4M
4
FR icon
First Industrial Realty Trust
FR
+$11.3M
5
RHP icon
Ryman Hospitality Properties
RHP
+$8.95M

Top Sells

Rank Stock Value
1
EXR icon
Extra Space Storage
EXR
+$19.4M
2
CCI icon
Crown Castle
CCI
+$12.5M
3
PLD icon
Prologis
PLD
+$9.5M
4
ESRT icon
Empire State Realty Trust
ESRT
+$7.77M
5
SPG icon
Simon Property Group
SPG
+$7.03M

Sector Composition

Rank Sector Weight
1 Real Estate 92.27%
2 Consumer Discretionary 7.73%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CSR
1
Centerspace
CSR
$931M
$55.3M 9.19%
828,398
+229,146
+38% +$14.4M
FR icon
2
First Industrial Realty Trust
FR
$8.31B
$52.3M 8.69%
912,517
+201,996
+28% +$11.3M
AHR icon
3
American Healthcare REIT
AHR
$10.2B
$49.6M 8.24%
1,053,206
-98,747
-9% -$4.58M
EQIX icon
4
Equinix
EQIX
$103B
$44.4M 7.38%
57,912
+26,047
+82% +$20.4M
VTR icon
5
Ventas
VTR
$45.3B
$39.1M 6.5%
505,225
-16,890
-3% -$1.27M
NSA
6
DELISTED
National Storage Affiliates Trust
NSA
$37.1M 6.16%
+1,314,463
New +$39.1M
SUI icon
7
Sun Communities
SUI
$14.5B
$35.4M 5.88%
285,481
+50,684
+22% +$6.34M
AMH icon
8
American Homes 4 Rent
AMH
$12.2B
$34.7M 5.76%
1,079,778
+98,793
+10% +$3.17M
NHI icon
9
National Health Investors
NHI
$3.4B
$31.6M 5.24%
413,133
-22,733
-5% -$1.74M
SPG icon
10
Simon Property Group
SPG
$71.1B
$31M 5.15%
167,517
-38,708
-19% -$7.03M
OUT icon
11
Outfront Media
OUT
$5.3B
$29.9M 4.97%
1,241,837
+290,689
+31% +$6.05M
SKT icon
12
Tanger
SKT
$4.42B
$27.6M 4.59%
826,822
-75,579
-8% -$2.52M
FUN icon
13
Cedar Fair
FUN
$1.65B
$26.7M 4.44%
1,743,077
+157,497
+10% +$2.85M
GLPI icon
14
Gaming and Leisure Properties
GLPI
$12.4B
$25.5M 4.23%
570,099
+128,217
+29% +$5.69M
CBRE icon
15
CBRE Group
CBRE
$42.6B
$20.5M 3.41%
127,512
-14,827
-10% -$2.33M
MAR icon
16
Marriott International
MAR
$91.1B
$19.7M 3.28%
63,655
-10,422
-14% -$2.98M
RHP icon
17
Ryman Hospitality Properties
RHP
$7.63B
$19.3M 3.2%
203,643
+96,867
+91% +$8.95M
PLD icon
18
Prologis
PLD
$132B
$17.1M 2.84%
133,713
-76,247
-36% -$9.5M
CURB
19
Curbline Properties
CURB
$3.4B
$5.05M 0.84%
+217,464
New +$5.07M
AVB icon
20
AvalonBay Communities
AVB
$26.2B
– –
-19,248
Closed -$3.72M
CCI icon
21
Crown Castle
CCI
$31.7B
– –
-129,800
Closed -$12.5M
ESRT icon
22
Empire State Realty Trust
ESRT
$810M
– –
-1,014,676
Closed -$7.77M
EXR icon
23
Extra Space Storage
EXR
$30.9B
– –
-137,562
Closed -$19.4M
UDR icon
24
UDR
UDR
$12B
– –
-95,892
Closed -$3.57M

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Land & Buildings Investment Management's Q4 2025 Portfolio in Review

As of Q4 2025, Land & Buildings Investment Management held 24 positions worth $602M, up 10% from $545M the previous quarter. Its ten largest holdings account for 68% of the portfolio.

Land & Buildings Investment Management deployed $44.4M of net new capital in Q4 2025, opening 2 new positions and adding to 9 existing holdings. Its largest new stake was National Storage Affiliates Trust: 1,314,463 shares worth $37.1M.

By sector, the portfolio is most concentrated in Real Estate at 92% of assets, up from 90% a quarter earlier, followed by Consumer Discretionary.

On the sell side, the largest reduction was Prologis, an estimated $9.5M trimmed.

  • Land & Buildings Investment Management's largest Q4 2025 buy was National Storage Affiliates Trust: 1,314,463 shares worth $37.1M.
  • Land & Buildings Investment Management added most to Equinix in Q4 2025, an estimated $20.4M increase.
  • Land & Buildings Investment Management's biggest Q4 2025 reduction was Prologis, cutting an estimated $9.5M.
  • Land & Buildings Investment Management fully exited Extra Space Storage in Q4 2025, selling an estimated $19.4M.
  • Land & Buildings Investment Management's ten largest holdings make up 68% of its $602M portfolio in Q4 2025.
  • Land & Buildings Investment Management opened 2 new positions and closed 5 in Q4 2025.
  • Land & Buildings Investment Management's portfolio value rose 10% quarter-over-quarter to $602M.

Based on Land & Buildings Investment Management's 13F filing for Q4 2025, filed 17 Feb 2026.