Heitman Real Estate Securities LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Heitman Real Estate Securities LLC reported 53 stock positions worth $1.5 billion. Its top holding was Welltower (WELL) at 10.7% of the portfolio, followed by Prologis (PLD, 8.3%) and Public Storage (PSA, 5.6%). Compared with Q4 2024, it opened 9 new positions, sold out of 9, added to 16 and reduced 25. The biggest buy was Welltower (WELL, shares +67%) and the biggest sale Vivmark Residential (VMRK, shares −100%).
- Most Recent 13F
- Q2 2026
- Location
- Chicago, IL
- CIK
- 0001080117
- Portfolio Value
- $1.5B (Q1 2025)
- SEC Filing
- 0001140361-25-019207 ↗ filed May 15, 2025
Holdings Value
Holdings 53 stocks · $1.5B
| WELL Welltower Inc. | 10.73% | 1,080,211 | $165.5M | Add +66.6% |
| PLD Prologis Inc. | 8.29% | 1,143,642 | $127.8M | Add +8.8% |
| PSA Public Storage | 5.55% | 286,264 | $85.7M | Add +115.9% |
| EQIX Equinix Inc. | 5.49% | 103,927 | $84.7M | Reduce -24.1% |
| DLR Digital Realty Trust Inc. | 5.22% | 562,541 | $80.6M | Add +8.5% |
| SPG Simon Property Group Inc. | 5.15% | 478,044 | $79.4M | Add +26.1% |
| AVB Avalonbay Communities Inc. | 4.40% | 316,645 | $68.0M | Add +4435.2% |
| CPT Camden Property Trust | 3.72% | 469,352 | $57.4M | Reduce -9.9% |
| INVH Invitation Homes Inc. | 3.69% | 1,633,844 | $56.9M | Add +26.2% |
| IRM Iron Mountain Inc. filed as IRON MTN INC DEL | 3.01% | 540,037 | $46.5M | Add +256.0% |
| REG Regency Centers Corp. | 2.68% | 560,161 | $41.3M | Reduce -20.6% |
| EGP Eastgroup Properties Inc. | 2.62% | 229,077 | $40.4M | Reduce -4.2% |
| UDR Udr Inc. | 2.57% | 879,246 | $39.7M | New |
| STAG Stag Industrial Inc. | 2.51% | 1,072,896 | $38.8M | Reduce -12.0% |
| ADC Agree Realty Corp. | 2.50% | 500,292 | $38.6M | Reduce -32.4% |
| O Realty Income Corp. | 2.40% | 638,957 | $37.1M | Add +97.1% |
| ARE Alexandria Real Estate Equit | 2.38% | 396,705 | $36.7M | Add +18.4% |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 2.20% | 1,041,468 | $34.0M | New |
| SLG SL Green Realty Corp. | 2.19% | 586,524 | $33.8M | New |
| SUI Sun Communities Inc. filed as SUN CMNTYS INC | 2.18% | 261,514 | $33.6M | New |
| EPRT Essential Properties Realty | 1.90% | 896,393 | $29.3M | Reduce -38.0% |
| BNL Broadstone Net Lease Inc. | 1.88% | 1,701,740 | $29.0M | New |
| CUZ Cousins Properties Inc. | 1.66% | 867,579 | $25.6M | Reduce -22.5% |
| HST Host Hotels & Resorts Inc. | 1.58% | 1,720,921 | $24.5M | Reduce -3.2% |
| UE Urban Edge Properties | 1.43% | 1,163,131 | $22.1M | Reduce -1.8% |
| VTR Ventas Inc. | 1.33% | 298,723 | $20.5M | Reduce -73.2% |
| AMT American Tower Corp. | 1.25% | 88,674 | $19.3M | Reduce -10.1% |
| EXR Extra Space Storage Inc. | 1.15% | 119,939 | $17.8M | Reduce -61.2% |
| LTC LTC Properties Inc. filed as LTC PPTYS INC | 1.12% | 485,958 | $17.2M | Reduce -8.2% |
| CTO Cto Realty Growth Inc. filed as CTO RLTY GROWTH INC NEW | 1.10% | 882,586 | $17.0M | Reduce -0.3% |
| CUBE Cubesmart | 0.85% | 305,341 | $13.0M | Reduce -54.1% |
| BRX Brixmor Property Group Inc. | 0.75% | 437,447 | $11.6M | New |
| ESS Essex Property Trust Inc. | 0.71% | 35,776 | $11.0M | Add +14.2% |
| FVR Frontview REIT Inc. | 0.66% | 798,799 | $10.2M | Reduce -1.9% |
| ESRT Empire State Realty Trust-A | 0.66% | 1,303,119 | $10.2M | Reduce -1.5% |
| DRH Diamondrock Hospitality Co. | 0.64% | 1,285,489 | $9.9M | New |
| MPT Medical Properties Trust Inc. | 0.43% | 1,106,733 | $6.7M | Reduce -41.5% |
| SBAC SBA Communications Corp. | 0.37% | 25,992 | $5.7M | Reduce -17.2% |
| DOC Healthpeak Properties Inc. | 0.29% | 221,931 | $4.5M | Reduce -50.9% |
| CCI Crown Castle Inc. | 0.23% | 33,859 | $3.5M | New |
| WY Weyerhaeuser Co. | 0.17% | 88,405 | $2.6M | Reduce -0.6% |
| WPC WP Carey Inc. | 0.10% | 24,119 | $1.5M | New |
| VMRK Vivmark Residential filed as EQUITY RESIDENTIAL | 0.03% | 6,187 | $443K | Reduce -99.5% |
| HR Healthcare Realty Trust Inc. | 0.02% | 20,566 | $348K | No change |
| BXP BXP Inc. | 0.02% | 5,111 | $343K | Add +16.5% |
| DEI Douglas Emmett Inc. | 0.02% | 21,461 | $343K | Add +15.5% |
| TRNO Terreno Realty Corp. | 0.02% | 5,355 | $339K | Reduce -9.1% |
| SHO Sunstone Hotel Investors Inc. | 0.02% | 35,512 | $334K | No change |
| FRT Federal Realty Invs Trust | 0.02% | 3,406 | $333K | Add +10.5% |
| REXR Rexford Industrial Realty Inc. | 0.02% | 8,487 | $332K | No change |
| AKR Acadia Realty Trust | 0.02% | 15,480 | $324K | Add +11.3% |
| PEB Pebblebrook Hotel Trust | 0.02% | 30,447 | $308K | Add +17.3% |
| VNO Vornado Realty Trust | 0.02% | 8,296 | $307K | Reduce -98.9% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $515K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| EPR PROPERTIES (EPR 9 PERP E) | CONV PFD 9% SR E | 17,147 | $515K | No change |
Total filed on the 13F, all lines: $1.5B.
Portfolio Sells Q4 2024 → Q1 2025
| VMRK Vivmark Residential | Reduce -99.5% | 0.03% | −6.28 |
| ELS Equity Lifestyle Properties | Sold out | 0.00% | −3.34 |
| VTR Ventas Inc. | Reduce -73.2% | 1.33% | −2.89 |
| EQIX Equinix Inc. | Reduce -24.1% | 5.49% | −2.82 |
| FCPT Four Corners Property Trust | Sold out | 0.00% | −2.29 |
| VNO Vornado Realty Trust | Reduce -98.9% | 0.02% | −2.05 |
| EXR Extra Space Storage Inc. | Reduce -61.2% | 1.15% | −1.83 |
| RLJ RLJ Lodging Trust | Sold out | 0.00% | −1.36 |
| OUT Outfront Media Inc. | Sold out | 0.00% | −1.02 |
| EPRT Essential Properties Realty | Reduce -38.0% | 1.90% | −1.01 |
| CUBE Cubesmart | Reduce -54.1% | 0.85% | −0.99 |
| ADC Agree Realty Corp. | Reduce -32.4% | 2.50% | −0.85 |
| KRG Kite Realty Group Trust | Sold out | 0.00% | −0.82 |
| KIM Kimco Realty Corp. | Sold out | 0.00% | −0.72 |
| REG Regency Centers Corp. | Reduce -20.6% | 2.68% | −0.68 |
| CUZ Cousins Properties Inc. | Reduce -22.5% | 1.66% | −0.55 |
| HST Host Hotels & Resorts Inc. | Reduce -3.2% | 1.58% | −0.42 |
| AHR American Healthcare REIT Inc. | Sold out | 0.00% | −0.36 |
| DOC Healthpeak Properties Inc. | Reduce -50.9% | 0.29% | −0.30 |
| FVR Frontview REIT Inc. | Reduce -1.9% | 0.66% | −0.29 |
| ESRT Empire State Realty Trust-A | Reduce -1.5% | 0.66% | −0.22 |
| UE Urban Edge Properties | Reduce -1.8% | 1.43% | −0.21 |
| CPT Camden Property Trust | Reduce -9.9% | 3.72% | −0.17 |
| STAG Stag Industrial Inc. | Reduce -12.0% | 2.51% | −0.14 |
| LTC LTC Properties Inc. | Reduce -8.2% | 1.12% | −0.06 |
| MPT Medical Properties Trust Inc. | Reduce -41.5% | 0.43% | −0.05 |
| SBAC SBA Communications Corp. | Reduce -17.2% | 0.37% | −0.04 |
| PGRE Paramount Group Inc. | Sold out | 0.00% | −0.02 |
| CTO Cto Realty Growth Inc. | Reduce -0.3% | 1.10% | −0.02 |
| HUDSON PAC PPTYS INC | Sold out | 0.00% | −0.02 |
| TRNO Terreno Realty Corp. | Reduce -9.1% | 0.02% | −0.00 |
| WY Weyerhaeuser Co. | Reduce -0.6% | 0.17% | +0.01 |
| AMT American Tower Corp. | Reduce -10.1% | 1.25% | +0.09 |
| EGP Eastgroup Properties Inc. | Reduce -4.2% | 2.62% | +0.14 |
Portfolio Buys Q4 2024 → Q1 2025
| WELL Welltower Inc. | Add +66.6% | 10.73% | +5.46 |
| AVB Avalonbay Communities Inc. | Add +4435.2% | 4.40% | +4.31 |
| PSA Public Storage | Add +115.9% | 5.55% | +3.00 |
| UDR Udr Inc. | New | 2.57% | +2.57 |
| VICI Vici Properties Inc. | New | 2.20% | +2.20 |
| SLG SL Green Realty Corp. | New | 2.19% | +2.19 |
| SUI Sun Communities Inc. | New | 2.18% | +2.18 |
| IRM Iron Mountain Inc. | Add +256.0% | 3.01% | +1.98 |
| BNL Broadstone Net Lease Inc. | New | 1.88% | +1.88 |
| O Realty Income Corp. | Add +97.1% | 2.40% | +1.29 |
| PLD Prologis Inc. | Add +8.8% | 8.29% | +1.13 |
| INVH Invitation Homes Inc. | Add +26.2% | 3.69% | +1.02 |
| SPG Simon Property Group Inc. | Add +26.1% | 5.15% | +0.94 |
| BRX Brixmor Property Group Inc. | New | 0.75% | +0.75 |
| DRH Diamondrock Hospitality Co. | New | 0.64% | +0.64 |
| ARE Alexandria Real Estate Equit | Add +18.4% | 2.38% | +0.27 |
| CCI Crown Castle Inc. | New | 0.23% | +0.23 |
| ESS Essex Property Trust Inc. | Add +14.2% | 0.71% | +0.13 |
| WPC WP Carey Inc. | New | 0.10% | +0.10 |
| BXP BXP Inc. | Add +16.5% | 0.02% | +0.00 |
| DEI Douglas Emmett Inc. | Add +15.5% | 0.02% | +0.00 |
| AKR Acadia Realty Trust | Add +11.3% | 0.02% | −0.00 |
| FRT Federal Realty Invs Trust | Add +10.5% | 0.02% | −0.00 |
| PEB Pebblebrook Hotel Trust | Add +17.3% | 0.02% | −0.00 |
| DLR Digital Realty Trust Inc. | Add +8.5% | 5.22% | −0.70 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 56 | $1.6B | WELL, PLD, EQIX, DLR, SPG |
| Q1 2026 | 56 | $1.4B | WELL, EQIX, PLD, O, SPG |
| Q4 2025 | 53 | $1.4B | WELL, PLD, EQIX, VTR, SPG |
| Q3 2025 | 56 | $1.5B | WELL, PLD, EQIX, SPG, DLR |
| Q2 2025 | 55 | $1.4B | WELL, PLD, EQIX, SPG, EXR |
| Q1 2025 | 53 | $1.5B | WELL, PLD, PSA, EQIX, DLR |
| Q4 2024 | 53 | $1.6B | EQIX, PLD, VMRK, DLR, WELL |
| Q3 2024 | 57 | $1.8B | PLD, EQIX, EXR, WELL, SPG |
| Q2 2024 | 53 | $1.6B | PLD, EQIX, WELL, DLR, SPG |
| Q1 2024 | 52 | $1.8B | PLD, WELL, EQIX, EXR, IRM |