Centersquare Investment Management LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 12, 2025), Centersquare Investment Management LLC reported 76 stock positions worth $9.6 billion. Its top holding was Welltower (WELL) at 8.0% of the portfolio, followed by Equinix (EQIX, 7.4%) and Prologis (PLD, 7.4%). Compared with Q1 2025, it opened 2 new positions, sold out of 1, added to 40 and reduced 29. The biggest buy was American Homes 4 Rent- A (AMH, shares +129%) and the biggest sale Invitation Homes (INVH, shares −36%).
- Most Recent 13F
- Q2 2026
- Location
- CONSHOHOCKEN, PA
- CIK
- 0001725296
- Portfolio Value
- $9.6B (Q2 2025)
- SEC Filing
- 0001725296-25-000047 ↗ filed Aug 12, 2025
Holdings Value
Holdings 76 stocks · $9.6B
| WELL Welltower Inc. | 7.97% | 4,998,210 | $768.4M | Add +0.7% |
| EQIX Equinix Inc. | 7.42% | 898,861 | $715.0M | Add +1.4% |
| PLD Prologis Inc. | 7.41% | 6,792,210 | $714.0M | Add +1.3% |
| DLR Digital Realty Trust Inc. | 5.37% | 2,969,099 | $517.6M | Reduce -2.2% |
| VTR Ventas Inc. | 4.59% | 7,006,557 | $442.5M | Add +2.4% |
| EXR Extra Space Storage Inc. | 4.12% | 2,693,408 | $397.1M | Add +1.8% |
| UDR Udr Inc. | 3.78% | 8,927,273 | $364.5M | Add +6.0% |
| CPT Camden Property Trust | 3.15% | 2,691,575 | $303.3M | Add +3.0% |
| VMRK Vivmark Residential filed as EQUITY RESIDENTIAL | 2.90% | 4,137,618 | $279.2M | Reduce -3.3% |
| BRX Brixmor Property Group Inc. | 2.82% | 10,438,616 | $271.8M | Add +29.7% |
| O Realty Income Corp. | 2.75% | 4,605,962 | $265.3M | Reduce -7.3% |
| DOC Healthpeak Properties Inc. | 2.68% | 14,759,095 | $258.4M | Add +11.1% |
| SPG Simon Property Group Inc. | 2.64% | 1,585,293 | $254.9M | Reduce -2.0% |
| KIM Kimco Realty Corp. | 2.56% | 11,746,912 | $246.9M | Add +30.5% |
| PSA Public Storage | 2.53% | 830,237 | $243.6M | Reduce -3.8% |
| INVH Invitation Homes Inc. | 2.35% | 6,904,764 | $226.5M | Reduce -36.4% |
| IRM Iron Mountain Inc. filed as IRON MTN INC DEL | 2.16% | 2,030,916 | $208.3M | Add +1.1% |
| ADC Agree Realty Corp. | 2.16% | 2,844,960 | $207.9M | Add +17.0% |
| KRG Kite Realty Group Trust | 1.74% | 7,397,582 | $167.6M | Add +24.1% |
| CUZ Cousins Properties Inc. | 1.72% | 5,535,661 | $166.2M | Add +6.8% |
| HST Host Hotels & Resorts Inc. | 1.71% | 10,712,469 | $164.5M | Reduce -4.7% |
| REXR Rexford Industrial Realty Inc. | 1.60% | 4,327,837 | $153.9M | Reduce -10.0% |
| AMH American Homes 4 Rent- A | 1.57% | 4,188,308 | $151.1M | Add +129.4% |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 1.43% | 4,226,758 | $137.8M | Add +7.2% |
| BXP BXP Inc. | 1.42% | 2,032,390 | $137.1M | Reduce -19.2% |
| OHI Omega Healthcare Investors | 1.37% | 3,598,740 | $131.9M | Add +69.4% |
| AHR American Healthcare REIT Inc. | 1.29% | 3,396,303 | $124.8M | Reduce -4.0% |
| FR First Industrial Realty TR | 1.25% | 2,499,328 | $120.3M | Add +5.0% |
| VNO Vornado Realty Trust | 1.24% | 3,129,938 | $119.7M | Add +20.6% |
| FRT Federal Realty Invs Trust | 1.23% | 1,243,548 | $118.1M | Add +2.7% |
| CUBE Cubesmart | 1.18% | 2,679,703 | $113.9M | Add +9.9% |
| AMT American Tower Corp. | 0.98% | 428,897 | $94.8M | Reduce -22.6% |
| NNN NNN REIT Inc. | 0.85% | 1,892,437 | $81.7M | Reduce -40.3% |
| BNL Broadstone Net Lease Inc. | 0.82% | 4,906,185 | $78.7M | Add +24.1% |
| SUI Sun Communities Inc. filed as SUN CMNTYS INC | 0.81% | 616,243 | $77.9M | Reduce -27.6% |
| HR Healthcare Realty Trust Inc. | 0.72% | 4,347,618 | $69.0M | Add +138.3% |
| COLD Americold Realty Trust Inc. | 0.64% | 3,728,925 | $62.0M | Add +0.2% |
| NHI Natl Health Investors Inc. filed as NATIONAL HEALTH INVS INC | 0.59% | 810,298 | $56.8M | Add +63.4% |
| LINE Lineage Inc. | 0.57% | 1,253,175 | $54.5M | Reduce -0.7% |
| DRH Diamondrock Hospitality Co. | 0.56% | 7,109,508 | $54.5M | Add +19.1% |
| NTST Netstreit Corp. | 0.45% | 2,563,155 | $43.4M | Add +7.3% |
| ARE Alexandria Real Estate Equit | 0.41% | 548,418 | $39.8M | Add +4.8% |
| SBAC SBA Communications Corp. | 0.39% | 161,687 | $38.0M | Reduce -5.0% |
| MAC The Macerich Co. | 0.39% | 2,338,930 | $37.8M | Add +12.3% |
| LAMR Lamar Advertising Co. Class A | 0.37% | 297,724 | $36.1M | Reduce -54.6% |
| IRT Independence Realty Trust Inc. | 0.34% | 1,850,950 | $32.7M | Add +2243.0% |
| ESS Essex Property Trust Inc. | 0.26% | 90,106 | $25.5M | Add +1.7% |
| LXP LXP Industrial Trust | 0.26% | 3,006,000 | $24.8M | Reduce -29.6% |
| DEI Douglas Emmett Inc. | 0.26% | 1,645,280 | $24.7M | Add +3004.3% |
| REG Regency Centers Corp. | 0.25% | 332,966 | $23.7M | Reduce -16.7% |
| AVB Avalonbay Communities Inc. | 0.24% | 115,790 | $23.6M | No change |
| ESRT Empire State Realty Trust-A | 0.24% | 2,848,359 | $23.0M | Add +1.5% |
| SHO Sunstone Hotel Investors Inc. | 0.23% | 2,571,542 | $22.3M | Add +78.2% |
| MAA Mid-America Apartment Comm | 0.19% | 124,150 | $18.4M | Reduce -69.9% |
| APLE Apple Hospitality REIT Inc. | 0.15% | 1,247,430 | $14.6M | Add +6987.7% |
| ELME Elme Communities | 0.14% | 878,725 | $14.0M | Add +1013.7% |
| WY Weyerhaeuser Co. | 0.11% | 412,239 | $10.6M | Reduce -5.4% |
| VTMX Corp. Inmobiliaria Vesta-ADR filed as VESTA REAL ESTATE CORP | 0.10% | 348,992 | $9.6M | Add +14.1% |
| HUDSON PAC PPTYS INC | 0.09% | 3,320,345 | $9.1M | New |
| EGP Eastgroup Properties Inc. | 0.07% | 41,300 | $6.9M | Reduce -25.9% |
| STAG Stag Industrial Inc. | 0.07% | 184,800 | $6.7M | No change |
| CCI Crown Castle Inc. | 0.06% | 55,360 | $5.7M | Reduce -3.7% |
| ELS Equity Lifestyle Properties | 0.05% | 77,030 | $4.8M | Reduce -28.7% |
| RHP Ryman Hospitality Properties | 0.04% | 38,294 | $3.8M | Reduce -37.4% |
| TRNO Terreno Realty Corp. | 0.03% | 59,467 | $3.3M | Add +0.2% |
| KRC Kilroy Realty Corp. | 0.03% | 86,491 | $3.0M | Reduce -5.0% |
| FVR Frontview REIT Inc. | 0.02% | 183,220 | $2.2M | Add +11.4% |
| CDP Copt Defense Properties | 0.02% | 70,500 | $1.9M | Reduce -2.3% |
| DBRG Digitalbridge Group Inc. | 0.02% | 142,500 | $1.5M | Reduce -18.1% |
| CBRE CBRE Group Inc. Class A | 0.01% | 9,140 | $1.3M | Reduce -8.8% |
| CSR Centerspace | 0.01% | 14,600 | $879K | No change |
| EPRT Essential Properties Realty | 0.01% | 23,093 | $737K | Add +2.2% |
| NEE Nextera Energy Inc. | 0.01% | 8,500 | $590K | No change |
| FCPT Four Corners Property Trust | 0.01% | 21,666 | $583K | No change |
| JLL Jones Lang Lasalle Inc. | 0.00% | 990 | $253K | Reduce -8.3% |
| SMA Smartstop Self Storage REIT | 0.00% | 5,530 | $200K | New |
Other holdings (2): bonds, preferreds, convertibles and warrants · $2.9M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| PEBBLEBROOK HOTEL TRUST (PEB 6.375 PERP E) | 6.375 PFD SER E | 127,246 | $2.2M | No change |
| PEBBLEBROOK HOTEL TRUST (PEB 6.3 PERP F) | 6.3 CUM PFD SR F | 40,594 | $712K | No change |
Total filed on the 13F, all lines: $9.6B.
Portfolio Sells Q1 2025 → Q2 2025
| INVH Invitation Homes Inc. | Reduce -36.4% | 2.35% | −1.57 |
| NNN NNN REIT Inc. | Reduce -40.3% | 0.85% | −0.55 |
| MAA Mid-America Apartment Comm | Reduce -69.9% | 0.19% | −0.53 |
| LAMR Lamar Advertising Co. Class A | Reduce -54.6% | 0.37% | −0.40 |
| REXR Rexford Industrial Realty Inc. | Reduce -10.0% | 1.60% | −0.35 |
| BXP BXP Inc. | Reduce -19.2% | 1.42% | −0.33 |
| SUI Sun Communities Inc. | Reduce -27.6% | 0.81% | −0.32 |
| VMRK Vivmark Residential | Reduce -3.3% | 2.90% | −0.27 |
| AMT American Tower Corp. | Reduce -22.6% | 0.98% | −0.27 |
| PEB Pebblebrook Hotel Trust | Sold out | 0.00% | −0.25 |
| O Realty Income Corp. | Reduce -7.3% | 2.75% | −0.23 |
| LINE Lineage Inc. | Reduce -0.7% | 0.57% | −0.20 |
| PSA Public Storage | Reduce -3.8% | 2.53% | −0.15 |
| SPG Simon Property Group Inc. | Reduce -2.0% | 2.64% | −0.14 |
| LXP LXP Industrial Trust | Reduce -29.6% | 0.26% | −0.13 |
| REG Regency Centers Corp. | Reduce -16.7% | 0.25% | −0.06 |
| EGP Eastgroup Properties Inc. | Reduce -25.9% | 0.07% | −0.03 |
| ELS Equity Lifestyle Properties | Reduce -28.7% | 0.05% | −0.03 |
| WY Weyerhaeuser Co. | Reduce -5.4% | 0.11% | −0.02 |
| RHP Ryman Hospitality Properties | Reduce -37.4% | 0.04% | −0.02 |
| CCI Crown Castle Inc. | Reduce -3.7% | 0.06% | −0.00 |
| DBRG Digitalbridge Group Inc. | Reduce -18.1% | 0.02% | −0.00 |
| CBRE CBRE Group Inc. Class A | Reduce -8.8% | 0.01% | −0.00 |
| CDP Copt Defense Properties | Reduce -2.3% | 0.02% | −0.00 |
| JLL Jones Lang Lasalle Inc. | Reduce -8.3% | 0.00% | −0.00 |
| KRC Kilroy Realty Corp. | Reduce -5.0% | 0.03% | −0.00 |
| SBAC SBA Communications Corp. | Reduce -5.0% | 0.39% | +0.01 |
| HST Host Hotels & Resorts Inc. | Reduce -4.7% | 1.71% | +0.05 |
| AHR American Healthcare REIT Inc. | Reduce -4.0% | 1.29% | +0.18 |
| DLR Digital Realty Trust Inc. | Reduce -2.2% | 5.37% | +0.87 |
Portfolio Buys Q1 2025 → Q2 2025
| AMH American Homes 4 Rent- A | Add +129.4% | 1.57% | +0.85 |
| BRX Brixmor Property Group Inc. | Add +29.7% | 2.82% | +0.61 |
| KIM Kimco Realty Corp. | Add +30.5% | 2.56% | +0.58 |
| OHI Omega Healthcare Investors | Add +69.4% | 1.37% | +0.53 |
| HR Healthcare Realty Trust Inc. | Add +138.3% | 0.72% | +0.40 |
| IRM Iron Mountain Inc. | Add +1.1% | 2.16% | +0.37 |
| KRG Kite Realty Group Trust | Add +24.1% | 1.74% | +0.36 |
| IRT Independence Realty Trust Inc. | Add +2243.0% | 0.34% | +0.32 |
| DEI Douglas Emmett Inc. | Add +3004.3% | 0.26% | +0.25 |
| VNO Vornado Realty Trust | Add +20.6% | 1.24% | +0.25 |
| ADC Agree Realty Corp. | Add +17.0% | 2.16% | +0.21 |
| NHI Natl Health Investors Inc. | Add +63.4% | 0.59% | +0.21 |
| APLE Apple Hospitality REIT Inc. | Add +6987.7% | 0.15% | +0.15 |
| CUZ Cousins Properties Inc. | Add +6.8% | 1.72% | +0.14 |
| ELME Elme Communities | Add +1013.7% | 0.14% | +0.13 |
| BNL Broadstone Net Lease Inc. | Add +24.1% | 0.82% | +0.12 |
| CUBE Cubesmart | Add +9.9% | 1.18% | +0.10 |
| WELL Welltower Inc. | Add +0.7% | 7.97% | +0.10 |
| VICI Vici Properties Inc. | Add +7.2% | 1.43% | +0.10 |
| HUDSON PAC PPTYS INC | New | 0.09% | +0.09 |
| SHO Sunstone Hotel Investors Inc. | Add +78.2% | 0.23% | +0.09 |
| DRH Diamondrock Hospitality Co. | Add +19.1% | 0.56% | +0.09 |
| NTST Netstreit Corp. | Add +7.3% | 0.45% | +0.06 |
| EXR Extra Space Storage Inc. | Add +1.8% | 4.12% | +0.05 |
| VTMX Corp. Inmobiliaria Vesta-ADR | Add +14.1% | 0.10% | +0.03 |
| MAC The Macerich Co. | Add +12.3% | 0.39% | +0.02 |
| ESRT Empire State Realty Trust-A | Add +1.5% | 0.24% | +0.01 |
| SMA Smartstop Self Storage REIT | New | 0.00% | +0.00 |
| FVR Frontview REIT Inc. | Add +11.4% | 0.02% | +0.00 |
| EPRT Essential Properties Realty | Add +2.2% | 0.01% | 0.00 |
| FRT Federal Realty Invs Trust | Add +2.7% | 1.23% | −0.00 |
| TRNO Terreno Realty Corp. | Add +0.2% | 0.03% | −0.00 |
| ESS Essex Property Trust Inc. | Add +1.7% | 0.26% | −0.02 |
| EQIX Equinix Inc. | Add +1.4% | 7.42% | −0.06 |
| FR First Industrial Realty TR | Add +5.0% | 1.25% | −0.08 |
| ARE Alexandria Real Estate Equit | Add +4.8% | 0.41% | −0.09 |
| DOC Healthpeak Properties Inc. | Add +11.1% | 2.68% | −0.10 |
| UDR Udr Inc. | Add +6.0% | 3.78% | −0.16 |
| CPT Camden Property Trust | Add +3.0% | 3.15% | −0.16 |
| COLD Americold Realty Trust Inc. | Add +0.2% | 0.64% | −0.18 |
| VTR Ventas Inc. | Add +2.4% | 4.59% | −0.28 |
| PLD Prologis Inc. | Add +1.3% | 7.41% | −0.36 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 80 | $11.7B | WELL, EQIX, PLD, DLR, VTR |
| Q1 2026 | 79 | $9.7B | WELL, PLD, EQIX, DLR, VTR |
| Q4 2025 | 79 | $10.1B | WELL, PLD, EQIX, DLR, VTR |
| Q3 2025 | 78 | $10.0B | WELL, PLD, EQIX, DLR, VTR |
| Q2 2025 | 76 | $9.6B | WELL, EQIX, PLD, DLR, VTR |
| Q1 2025 | 75 | $9.7B | WELL, PLD, EQIX, VTR, DLR |
| Q4 2024 | 75 | $9.5B | EQIX, PLD, WELL, DLR, INVH |
| Q3 2024 | 92 | $10.7B | EQIX, PLD, WELL, DLR, EXR |
| Q2 2024 | 71 | $9.2B | PLD, EQIX, WELL, UDR, DLR |
| Q1 2024 | 72 | $8.7B | PLD, EQIX, WELL, O, UDR |