Land & Buildings Investment Management, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Land & Buildings Investment Management, LLC reported 20 stock positions worth $472.6 million. Its top holding was Natl Health Investors (NHI) at 9.2% of the portfolio, followed by First Industrial Realty TR (FR, 7.4%) and American Healthcare REIT (AHR, 7.4%). Compared with Q4 2024, it opened 2 new positions, sold out of 2, added to 8 and reduced 10. The biggest buy was a new position in Extra Space Storage (EXR) and the biggest sale an exit from Xenia Hotels & Resorts (XHR).
- Most Recent 13F
- Q2 2026
- Location
- STAMFORD, CT
- CIK
- 0001536520
- Portfolio Value
- $472.6M (Q1 2025)
- SEC Filing
- 0001536520-25-000003 ↗ filed May 15, 2025
Holdings Value
Holdings 20 stocks · $472.6M
| NHI Natl Health Investors Inc. filed as NATIONAL HEALTH INVS INC | 9.17% | 586,946 | $43.4M | Add +25.7% |
| FR First Industrial Realty TR | 7.36% | 644,191 | $34.8M | Reduce -7.5% |
| AHR American Healthcare REIT Inc. | 7.35% | 1,147,003 | $34.8M | Reduce -26.4% |
| AMH American Homes 4 Rent- A | 7.04% | 880,590 | $33.3M | Add +19.4% |
| EXR Extra Space Storage Inc. | 6.50% | 206,892 | $30.7M | New |
| VTR Ventas Inc. | 6.31% | 433,926 | $29.8M | Reduce -37.5% |
| VMRK Vivmark Residential filed as EQUITY RESIDENTIAL | 5.90% | 389,349 | $27.9M | Add +145.3% |
| AIV Apartment Invt & Mgmt Co. Class A | 5.85% | 3,142,232 | $27.7M | Add +2.2% |
| EQIX Equinix Inc. | 5.05% | 29,292 | $23.9M | Reduce -29.4% |
| SUI Sun Communities Inc. filed as SUN CMNTYS INC | 4.99% | 183,252 | $23.6M | Add +15.9% |
| MAR Marriott International Class A | 4.60% | 91,180 | $21.7M | Reduce -3.9% |
| SPG Simon Property Group Inc. | 4.43% | 126,135 | $20.9M | Reduce -6.1% |
| SKT Tanger Inc. | 4.35% | 608,381 | $20.6M | Reduce -37.5% |
| AMT American Tower Corp. | 3.93% | 85,397 | $18.6M | Add +36.0% |
| KRG Kite Realty Group Trust | 3.82% | 806,852 | $18.0M | Reduce -37.2% |
| OUT Outfront Media Inc. | 3.54% | 1,036,685 | $16.7M | Reduce -14.1% |
| CBRE CBRE Group Inc. Class A | 3.53% | 127,529 | $16.7M | Reduce -33.0% |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 3.22% | 465,831 | $15.2M | Add +48.1% |
| ELME Elme Communities | 2.01% | 546,653 | $9.5M | New |
| SMRT Smartrent Inc. | 1.04% | 4,076,738 | $4.9M | Add +2.2% |
Portfolio Sells Q4 2024 → Q1 2025
| XHR Xenia Hotels & Resorts Inc. | Sold out | 0.00% | −3.25 |
| EQIX Equinix Inc. | Reduce -29.4% | 5.05% | −2.87 |
| KRG Kite Realty Group Trust | Reduce -37.2% | 3.82% | −2.75 |
| SKT Tanger Inc. | Reduce -37.5% | 4.35% | −2.39 |
| DLR Digital Realty Trust Inc. | Sold out | 0.00% | −1.97 |
| VTR Ventas Inc. | Reduce -37.5% | 6.31% | −1.97 |
| AHR American Healthcare REIT Inc. | Reduce -26.4% | 7.35% | −1.62 |
| CBRE CBRE Group Inc. Class A | Reduce -33.0% | 3.53% | −1.54 |
| OUT Outfront Media Inc. | Reduce -14.1% | 3.54% | −0.90 |
| MAR Marriott International Class A | Reduce -3.9% | 4.60% | −0.77 |
| SPG Simon Property Group Inc. | Reduce -6.1% | 4.43% | −0.26 |
| FR First Industrial Realty TR | Reduce -7.5% | 7.36% | +0.28 |
Portfolio Buys Q4 2024 → Q1 2025
| EXR Extra Space Storage Inc. | New | 6.50% | +6.50 |
| VMRK Vivmark Residential | Add +145.3% | 5.90% | +3.59 |
| NHI Natl Health Investors Inc. | Add +25.7% | 9.17% | +2.62 |
| ELME Elme Communities | New | 2.01% | +2.01 |
| AMT American Tower Corp. | Add +36.0% | 3.93% | +1.60 |
| AMH American Homes 4 Rent- A | Add +19.4% | 7.04% | +1.45 |
| VICI Vici Properties Inc. | Add +48.1% | 3.22% | +1.35 |
| SUI Sun Communities Inc. | Add +15.9% | 4.99% | +1.05 |
| AIV Apartment Invt & Mgmt Co. Class A | Add +2.2% | 5.85% | +0.19 |
| SMRT Smartrent Inc. | Add +2.2% | 1.04% | −0.37 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 19 | $583.4M | AHR, SPG, FR, BXDC, VTR |
| Q1 2026 | 20 | $591.4M | FR, INVH, AHR, NHI, EQIX |
| Q4 2025 | 19 | $601.6M | CSR, FR, AHR, EQIX, VTR |
| Q3 2025 | 22 | $544.9M | AHR, SPG, FR, VTR, FUN |
| Q2 2025 | 21 | $501.1M | AHR, FR, NHI, VTR, AMH |
| Q1 2025 | 20 | $472.6M | NHI, FR, AHR, AMH, EXR |
| Q4 2024 | 20 | $493.6M | AHR, VTR, EQIX, FR, SKT |
| Q3 2024 | 19 | $489.2M | FR, AHR, EQIX, VTR, SKT |
| Q2 2024 | 19 | $424.6M | FR, INVH, SUI, EQIX, NHI |
| Q1 2024 | 18 | $456.7M | EQC, INVH, AIRC, EQIX, SUI |