Innovative Industrial Properties
IIPR
293 hedge funds and large institutions have $923M invested in Innovative Industrial Properties in 2025 Q4 according to their latest regulatory filings, with 35 funds opening new positions, 110 increasing their positions, 94 reducing their positions, and 44 closing their positions.
17% more repeat investments, than reductions
Existing positions increased: 110 | Existing positions reduced: 94
2.72% more ownership
Funds ownership: 66.55% → 69.27% (+2.7%)
5% less funds holding
Funds holding: 309 → 293 (-16)
8% less capital invested
Capital invested by funds: $1B → $923M (-$80.5M)
20% less first-time investments, than exits
New positions opened: 35 | Existing positions closed: 44
67% less call options, than puts
Call options by funds: $12.5M | Put options by funds: $37.3M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Millennium Management
New York
|
+$7.29M |
| 2 |
Point72 Asset Management
Stamford,
Connecticut
|
+$6.71M |
| 3 |
Goldman Sachs
New York
|
+$5.47M |
| 4 |
D.E. Shaw & Co
New York
|
+$4.4M |
| 5 |
BlackRock
New York
|
+$4.37M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Bank of New York Mellon
New York
|
-$7.7M |
| 2 |
LP
LMR Partners
London,
United Kingdom
|
-$3.9M |
| 3 |
Morgan Stanley
New York
|
-$2.78M |
| 4 |
Balyasny Asset Management
Chicago,
Illinois
|
-$1.64M |
| 5 |
Pacer Advisors
Malvern,
Pennsylvania
|
-$1.52M |
IIPR Hedge Fund Activity: Q4 2025 in Review
293 of the 8,267 institutional investors tracked by Wall St. Rank reported a position in Innovative Industrial Properties (IIPR) for Q4 2025, worth a combined $923M — down 8% from $1B a quarter earlier.
Sellers outnumbered buyers: 44 funds closed out of IIPR and 35 opened new positions — a net loss of 9 holders — while 94 trimmed existing stakes and 110 added.
The largest buyer was Millennium Management, adding an estimated $7.29M. The largest seller was Bank of New York Mellon, cutting an estimated $7.7M.
- 293 institutional investors held Innovative Industrial Properties (IIPR) as of Q4 2025, down from 309 in Q3 2025.
- Funds reported $923M of Innovative Industrial Properties stock for Q4 2025, down 8% quarter-over-quarter.
- 35 funds opened new Innovative Industrial Properties positions in Q4 2025 and 44 closed out, a net change of -9 holders.
- The largest Innovative Industrial Properties buyer in Q4 2025 was Millennium Management, an estimated $7.29M added.
- The largest Innovative Industrial Properties seller in Q4 2025 was Bank of New York Mellon, an estimated $7.7M sold.
Based on aggregated 13F filings for Q4 2025.