B&I Capital AG
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 26, 2026), B&I Capital AG reported 25 stock positions worth $281.2 million. Its top holding was Prologis (PLD) at 13.5% of the portfolio, followed by Welltower (WELL, 12.0%) and American Tower (AMT, 11.2%). Compared with Q3 2025, it opened 3 new positions, sold out of 7, added to 14 and reduced 7. The biggest buy was a new position in Caretrust REIT (CTRE) and the biggest sale an exit from Ventas (VTR).
- Most Recent 13F
- Q2 2026
- Location
- ZURICH, V8
- CIK
- 0001843527
- Portfolio Value
- $281.2M (Q4 2025)
- SEC Filing
- 0001843527-26-000001 ↗ filed Jan 26, 2026
Holdings Value
Holdings 25 stocks · $281.2M
| PLD Prologis Inc. | 13.52% | 297,721 | $38.0M | Add +6.8% |
| WELL Welltower Inc. | 12.00% | 181,840 | $33.8M | Add +12.6% |
| AMT American Tower Corp. | 11.18% | 179,058 | $31.4M | Reduce -0.9% |
| EQIX Equinix Inc. | 5.85% | 21,460 | $16.4M | Reduce -10.2% |
| SPG Simon Property Group Inc. | 4.57% | 69,385 | $12.8M | Add +28.4% |
| CTRE Caretrust REIT Inc. | 3.91% | 303,900 | $11.0M | New |
| DLR Digital Realty Trust Inc. | 3.85% | 69,991 | $10.8M | Add +17.9% |
| AHR American Healthcare REIT Inc. | 3.79% | 226,570 | $10.7M | New |
| PSA Public Storage | 3.60% | 39,000 | $10.1M | Add +4.8% |
| PECO Phillips Edison & Company Inc. | 3.52% | 277,931 | $9.9M | Add +19.9% |
| IRM Iron Mountain Inc. filed as IRON MTN INC DEL | 3.38% | 114,720 | $9.5M | Add +11.4% |
| IRT Independence Realty Trust Inc. | 3.18% | 510,860 | $8.9M | Add +6.8% |
| CUBE Cubesmart | 3.13% | 243,840 | $8.8M | Reduce -11.7% |
| IVT Inventrust Properties Corp. | 3.00% | 299,250 | $8.4M | New |
| MAA Mid-America Apartment Comm | 2.72% | 54,975 | $7.6M | Add +11.1% |
| EPRT Essential Properties Realty | 2.67% | 253,484 | $7.5M | Add +11.8% |
| FCPT Four Corners Property Trust | 2.64% | 321,787 | $7.4M | Add +19.7% |
| ELS Equity Lifestyle Properties | 2.48% | 115,022 | $7.0M | Add +0.1% |
| AMH American Homes 4 Rent- A | 2.27% | 199,180 | $6.4M | Reduce -3.8% |
| UDR Udr Inc. | 2.24% | 171,870 | $6.3M | Add +10.3% |
| CUZ Cousins Properties Inc. | 1.90% | 206,730 | $5.3M | Reduce -1.6% |
| HIW Highwoods Properties Inc. | 1.75% | 190,820 | $4.9M | Reduce -10.4% |
| MAC The Macerich Co. | 1.37% | 209,232 | $3.9M | Reduce -46.1% |
| VRE Veris Residential Inc. | 0.98% | 184,640 | $2.7M | No change |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 0.51% | 51,360 | $1.4M | Add +7.1% |
Portfolio Sells Q3 2025 → Q4 2025
| VTR Ventas Inc. | Sold out | 0.00% | −3.49 |
| KIM Kimco Realty Corp. | Sold out | 0.00% | −3.01 |
| OHI Omega Healthcare Investors | Sold out | 0.00% | −2.72 |
| ARE Alexandria Real Estate Equit | Sold out | 0.00% | −2.26 |
| AAT American Assets Trust Inc. | Sold out | 0.00% | −2.01 |
| MAC The Macerich Co. | Reduce -46.1% | 1.37% | −1.07 |
| AMT American Tower Corp. | Reduce -0.9% | 11.18% | −0.85 |
| CUBE Cubesmart | Reduce -11.7% | 3.13% | −0.76 |
| SAFE Safehold Inc. | Sold out | 0.00% | −0.68 |
| EQIX Equinix Inc. | Reduce -10.2% | 5.85% | −0.63 |
| HIW Highwoods Properties Inc. | Reduce -10.4% | 1.75% | −0.59 |
| SCI Service Corp. International | Sold out | 0.00% | −0.32 |
| CUZ Cousins Properties Inc. | Reduce -1.6% | 1.90% | −0.21 |
| AMH American Homes 4 Rent- A | Reduce -3.8% | 2.27% | −0.11 |
Portfolio Buys Q3 2025 → Q4 2025
| CTRE Caretrust REIT Inc. | New | 3.91% | +3.91 |
| AHR American Healthcare REIT Inc. | New | 3.79% | +3.79 |
| IVT Inventrust Properties Corp. | New | 3.00% | +3.00 |
| PLD Prologis Inc. | Add +6.8% | 13.52% | +2.46 |
| WELL Welltower Inc. | Add +12.6% | 12.00% | +2.05 |
| SPG Simon Property Group Inc. | Add +28.4% | 4.57% | +1.06 |
| PECO Phillips Edison & Company Inc. | Add +19.9% | 3.52% | +0.76 |
| IRT Independence Realty Trust Inc. | Add +6.8% | 3.18% | +0.46 |
| FCPT Four Corners Property Trust | Add +19.7% | 2.64% | +0.37 |
| EPRT Essential Properties Realty | Add +11.8% | 2.67% | +0.34 |
| MAA Mid-America Apartment Comm | Add +11.1% | 2.72% | +0.32 |
| DLR Digital Realty Trust Inc. | Add +17.9% | 3.85% | +0.30 |
| UDR Udr Inc. | Add +10.3% | 2.24% | +0.23 |
| ELS Equity Lifestyle Properties | Add +0.1% | 2.48% | +0.07 |
| VICI Vici Properties Inc. | Add +7.1% | 0.51% | −0.03 |
| PSA Public Storage | Add +4.8% | 3.60% | −0.12 |
| IRM Iron Mountain Inc. | Add +11.4% | 3.38% | −0.25 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 28 | $45.3M | PLD, WELL, EQIX, PSA, AHR |
| Q1 2026 | 24 | $294.1M | PLD, WELL, AMT, EQIX, PSA |
| Q4 2025 | 25 | $281.2M | PLD, WELL, AMT, EQIX, SPG |
| Q3 2025 | 29 | $288.9M | AMT, PLD, WELL, EQIX, CUBE |
| Q2 2025 | 31 | $294.0M | AMT, PLD, WELL, EQIX, DLR |
| Q1 2025 | 30 | $307.5M | PLD, AMT, EQIX, WELL, PSA |
| Q4 2024 | 27 | $306.9M | PLD, EQIX, AMT, WELL, SPG |
| Q3 2024 | 27 | $345.0M | PLD, EQIX, WELL, CCI, SPG |
| Q2 2024 | 27 | $312.6M | PLD, EQIX, WELL, CCI, NSA |
| Q1 2024 | 25 | $315.6M | EQIX, PLD, WELL, CCI, NSA |