Heitman Real Estate Securities LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Heitman Real Estate Securities LLC reported 55 stock positions worth $1.4 billion. Its top holding was Welltower (WELL) at 11.0% of the portfolio, followed by Prologis (PLD, 8.0%) and Equinix (EQIX, 7.8%). Compared with Q1 2025, it opened 9 new positions, sold out of 7, added to 20 and reduced 25. The biggest buy was Vivmark Residential (VMRK, shares +12496%) and the biggest sale Avalonbay Communities (AVB, shares −99%).
- Most Recent 13F
- Q2 2026
- Location
- Chicago, IL
- CIK
- 0001080117
- Portfolio Value
- $1.4B (Q2 2025)
- SEC Filing
- 0001140361-25-031184 ↗ filed Aug 14, 2025
Holdings Value
Holdings 55 stocks · $1.4B
| WELL Welltower Inc. | 11.01% | 1,010,293 | $155.3M | Reduce -6.5% |
| PLD Prologis Inc. | 8.02% | 1,075,738 | $113.1M | Reduce -5.9% |
| EQIX Equinix Inc. | 7.80% | 138,384 | $110.1M | Add +33.2% |
| SPG Simon Property Group Inc. | 4.47% | 392,425 | $63.1M | Reduce -17.9% |
| EXR Extra Space Storage Inc. | 4.34% | 415,058 | $61.2M | Add +246.1% |
| DLR Digital Realty Trust Inc. | 4.33% | 350,279 | $61.1M | Reduce -37.7% |
| ESS Essex Property Trust Inc. | 3.79% | 188,627 | $53.5M | Add +427.2% |
| VMRK Vivmark Residential filed as EQUITY RESIDENTIAL | 3.73% | 779,301 | $52.6M | Add +12495.8% |
| IRM Iron Mountain Inc. filed as IRON MTN INC DEL | 3.37% | 463,518 | $47.5M | Reduce -14.2% |
| AMH American Homes 4 Rent- A | 3.03% | 1,185,805 | $42.8M | New |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 2.96% | 1,279,407 | $41.7M | Add +22.9% |
| EGP Eastgroup Properties Inc. | 2.66% | 224,154 | $37.5M | Reduce -2.1% |
| RHP Ryman Hospitality Properties | 2.62% | 374,314 | $36.9M | New |
| PSA Public Storage | 2.54% | 122,158 | $35.8M | Reduce -57.3% |
| REG Regency Centers Corp. | 2.53% | 500,703 | $35.7M | Reduce -10.6% |
| ELS Equity Lifestyle Properties | 2.48% | 567,948 | $35.0M | New |
| O Realty Income Corp. | 2.41% | 590,097 | $34.0M | Reduce -7.7% |
| CUZ Cousins Properties Inc. | 2.05% | 960,532 | $28.8M | Add +10.7% |
| SLG SL Green Realty Corp. | 1.98% | 451,807 | $28.0M | Reduce -23.0% |
| FR First Industrial Realty TR | 1.97% | 576,281 | $27.7M | New |
| ADC Agree Realty Corp. | 1.88% | 362,824 | $26.5M | Reduce -27.5% |
| EPRT Essential Properties Realty | 1.79% | 791,579 | $25.3M | Reduce -11.7% |
| MAA Mid-America Apartment Comm | 1.65% | 157,578 | $23.3M | New |
| SBRA Sabra Health Care REIT Inc. | 1.61% | 1,234,266 | $22.8M | New |
| AKR Acadia Realty Trust | 1.55% | 1,176,780 | $21.9M | Add +7501.9% |
| VTR Ventas Inc. | 1.24% | 277,195 | $17.5M | Reduce -7.2% |
| ARE Alexandria Real Estate Equit | 1.23% | 237,915 | $17.3M | Reduce -40.0% |
| CUBE Cubesmart | 1.07% | 354,836 | $15.1M | Add +16.2% |
| BNL Broadstone Net Lease Inc. | 0.96% | 842,310 | $13.5M | Reduce -50.5% |
| CTO Cto Realty Growth Inc. filed as CTO RLTY GROWTH INC NEW | 0.95% | 779,233 | $13.4M | Reduce -11.7% |
| UE Urban Edge Properties | 0.91% | 687,972 | $12.8M | Reduce -40.9% |
| LTC LTC Properties Inc. filed as LTC PPTYS INC | 0.85% | 346,332 | $12.0M | Reduce -28.7% |
| UDR Udr Inc. | 0.84% | 291,788 | $11.9M | Reduce -66.8% |
| AMT American Tower Corp. | 0.81% | 51,721 | $11.4M | Reduce -41.7% |
| OUT Outfront Media Inc. | 0.73% | 634,424 | $10.4M | New |
| ESRT Empire State Realty Trust-A | 0.73% | 1,279,678 | $10.4M | Reduce -1.8% |
| CCI Crown Castle Inc. | 0.67% | 91,649 | $9.4M | Add +170.7% |
| SBAC SBA Communications Corp. | 0.43% | 26,015 | $6.1M | Add +0.1% |
| FRT Federal Realty Invs Trust | 0.38% | 56,915 | $5.4M | Add +1571.0% |
| FVR Frontview REIT Inc. | 0.37% | 434,606 | $5.2M | Reduce -45.6% |
| WPC WP Carey Inc. | 0.28% | 63,934 | $4.0M | Add +165.1% |
| AD Array Digital Infrastructure filed as UNITED STATES CELLULAR CORP | 0.26% | 56,847 | $3.6M | New |
| MPT Medical Properties Trust Inc. | 0.24% | 785,049 | $3.4M | Reduce -29.1% |
| WY Weyerhaeuser Co. | 0.17% | 94,006 | $2.4M | Add +6.3% |
| HR Healthcare Realty Trust Inc. | 0.03% | 25,456 | $404K | Add +23.8% |
| PEB Pebblebrook Hotel Trust | 0.03% | 39,971 | $399K | Add +31.3% |
| DEI Douglas Emmett Inc. | 0.03% | 25,832 | $389K | Add +20.4% |
| AVB Avalonbay Communities Inc. | 0.03% | 1,819 | $370K | Reduce -99.4% |
| VNO Vornado Realty Trust | 0.03% | 9,674 | $370K | Add +16.6% |
| DOC Healthpeak Properties Inc. | 0.03% | 21,099 | $369K | Reduce -90.5% |
| VRE Veris Residential Inc. | 0.03% | 24,578 | $366K | New |
| TRNO Terreno Realty Corp. | 0.03% | 6,493 | $364K | Add +21.3% |
| REXR Rexford Industrial Realty Inc. | 0.03% | 10,232 | $364K | Add +20.6% |
| SHO Sunstone Hotel Investors Inc. | 0.03% | 40,815 | $354K | Add +14.9% |
| BXP BXP Inc. | 0.02% | 5,111 | $345K | No change |
Other holdings (1): bonds, preferreds, convertibles and warrants · $535K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| EPR PROPERTIES (EPR 9 PERP E) | CONV PFD 9% SR E | 17,147 | $535K | No change |
Total filed on the 13F, all lines: $1.4B.
Portfolio Sells Q1 2025 → Q2 2025
| AVB Avalonbay Communities Inc. | Reduce -99.4% | 0.03% | −4.38 |
| CPT Camden Property Trust | Sold out | 0.00% | −3.72 |
| INVH Invitation Homes Inc. | Sold out | 0.00% | −3.69 |
| PSA Public Storage | Reduce -57.3% | 2.54% | −3.01 |
| STAG Stag Industrial Inc. | Sold out | 0.00% | −2.51 |
| SUI Sun Communities Inc. | Sold out | 0.00% | −2.18 |
| UDR Udr Inc. | Reduce -66.8% | 0.84% | −1.73 |
| HST Host Hotels & Resorts Inc. | Sold out | 0.00% | −1.58 |
| ARE Alexandria Real Estate Equit | Reduce -40.0% | 1.23% | −1.15 |
| BNL Broadstone Net Lease Inc. | Reduce -50.5% | 0.96% | −0.92 |
| DLR Digital Realty Trust Inc. | Reduce -37.7% | 4.33% | −0.89 |
| BRX Brixmor Property Group Inc. | Sold out | 0.00% | −0.75 |
| SPG Simon Property Group Inc. | Reduce -17.9% | 4.47% | −0.67 |
| DRH Diamondrock Hospitality Co. | Sold out | 0.00% | −0.64 |
| ADC Agree Realty Corp. | Reduce -27.5% | 1.88% | −0.62 |
| UE Urban Edge Properties | Reduce -40.9% | 0.91% | −0.52 |
| AMT American Tower Corp. | Reduce -41.7% | 0.81% | −0.44 |
| FVR Frontview REIT Inc. | Reduce -45.6% | 0.37% | −0.29 |
| PLD Prologis Inc. | Reduce -5.9% | 8.02% | −0.27 |
| LTC LTC Properties Inc. | Reduce -28.7% | 0.85% | −0.27 |
| DOC Healthpeak Properties Inc. | Reduce -90.5% | 0.03% | −0.26 |
| SLG SL Green Realty Corp. | Reduce -23.0% | 1.98% | −0.21 |
| MPT Medical Properties Trust Inc. | Reduce -29.1% | 0.24% | −0.19 |
| CTO Cto Realty Growth Inc. | Reduce -11.7% | 0.95% | −0.15 |
| REG Regency Centers Corp. | Reduce -10.6% | 2.53% | −0.15 |
| EPRT Essential Properties Realty | Reduce -11.7% | 1.79% | −0.11 |
| VTR Ventas Inc. | Reduce -7.2% | 1.24% | −0.09 |
| O Realty Income Corp. | Reduce -7.7% | 2.41% | +0.01 |
| EGP Eastgroup Properties Inc. | Reduce -2.1% | 2.66% | +0.04 |
| ESRT Empire State Realty Trust-A | Reduce -1.8% | 0.73% | +0.07 |
| WELL Welltower Inc. | Reduce -6.5% | 11.01% | +0.29 |
| IRM Iron Mountain Inc. | Reduce -14.2% | 3.37% | +0.36 |
Portfolio Buys Q1 2025 → Q2 2025
| VMRK Vivmark Residential | Add +12495.8% | 3.73% | +3.70 |
| EXR Extra Space Storage Inc. | Add +246.1% | 4.34% | +3.18 |
| ESS Essex Property Trust Inc. | Add +427.2% | 3.79% | +3.08 |
| AMH American Homes 4 Rent- A | New | 3.03% | +3.03 |
| RHP Ryman Hospitality Properties | New | 2.62% | +2.62 |
| ELS Equity Lifestyle Properties | New | 2.48% | +2.48 |
| EQIX Equinix Inc. | Add +33.2% | 7.80% | +2.31 |
| FR First Industrial Realty TR | New | 1.97% | +1.97 |
| MAA Mid-America Apartment Comm | New | 1.65% | +1.65 |
| SBRA Sabra Health Care REIT Inc. | New | 1.61% | +1.61 |
| AKR Acadia Realty Trust | Add +7501.9% | 1.55% | +1.53 |
| VICI Vici Properties Inc. | Add +22.9% | 2.96% | +0.76 |
| OUT Outfront Media Inc. | New | 0.73% | +0.73 |
| CCI Crown Castle Inc. | Add +170.7% | 0.67% | +0.44 |
| CUZ Cousins Properties Inc. | Add +10.7% | 2.05% | +0.39 |
| FRT Federal Realty Invs Trust | Add +1571.0% | 0.38% | +0.36 |
| AD Array Digital Infrastructure | New | 0.26% | +0.26 |
| CUBE Cubesmart | Add +16.2% | 1.07% | +0.22 |
| WPC WP Carey Inc. | Add +165.1% | 0.28% | +0.18 |
| SBAC SBA Communications Corp. | Add +0.1% | 0.43% | +0.06 |
| VRE Veris Residential Inc. | New | 0.03% | +0.03 |
| PEB Pebblebrook Hotel Trust | Add +31.3% | 0.03% | +0.01 |
| VNO Vornado Realty Trust | Add +16.6% | 0.03% | +0.01 |
| HR Healthcare Realty Trust Inc. | Add +23.8% | 0.03% | +0.01 |
| DEI Douglas Emmett Inc. | Add +20.4% | 0.03% | +0.01 |
| REXR Rexford Industrial Realty Inc. | Add +20.6% | 0.03% | +0.00 |
| TRNO Terreno Realty Corp. | Add +21.3% | 0.03% | +0.00 |
| SHO Sunstone Hotel Investors Inc. | Add +14.9% | 0.03% | +0.00 |
| WY Weyerhaeuser Co. | Add +6.3% | 0.17% | +0.00 |
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 |