Land & Buildings Investment Management, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Land & Buildings Investment Management, LLC reported 19 stock positions worth $601.6 million. Its top holding was Centerspace (CSR) at 9.2% of the portfolio, followed by First Industrial Realty TR (FR, 8.7%) and American Healthcare REIT (AHR, 8.2%). Compared with Q3 2025, it opened 2 new positions, sold out of 5, added to 9 and reduced 8. The biggest buy was a new position in National Storage Affiliates (NSA) and the biggest sale an exit from Extra Space Storage (EXR).
- Most Recent 13F
- Q2 2026
- Location
- STAMFORD, CT
- CIK
- 0001536520
- Portfolio Value
- $601.6M (Q4 2025)
- SEC Filing
- 0001536520-26-000002 ↗ filed Feb 17, 2026
Holdings Value
Holdings 19 stocks · $601.6M
| CSR Centerspace | 9.19% | 828,398 | $55.3M | Add +38.2% |
| FR First Industrial Realty TR | 8.69% | 912,517 | $52.3M | Add +28.4% |
| AHR American Healthcare REIT Inc. | 8.24% | 1,053,206 | $49.6M | Reduce -8.6% |
| EQIX Equinix Inc. | 7.38% | 57,912 | $44.4M | Add +81.7% |
| VTR Ventas Inc. | 6.50% | 505,225 | $39.1M | Reduce -3.2% |
| NSA National Storage Affiliates | 6.16% | 1,314,463 | $37.1M | New |
| SUI Sun Communities Inc. filed as SUN CMNTYS INC | 5.88% | 285,481 | $35.4M | Add +21.6% |
| AMH American Homes 4 Rent- A | 5.76% | 1,079,778 | $34.7M | Add +10.1% |
| NHI Natl Health Investors Inc. filed as NATIONAL HEALTH INVS INC | 5.24% | 413,133 | $31.6M | Reduce -5.2% |
| SPG Simon Property Group Inc. | 5.15% | 167,517 | $31.0M | Reduce -18.8% |
| OUT Outfront Media Inc. | 4.97% | 1,241,837 | $29.9M | Add +30.6% |
| SKT Tanger Inc. | 4.59% | 826,822 | $27.6M | Reduce -8.4% |
| FUN Six Flags Entertainment Corp. | 4.44% | 1,743,077 | $26.7M | Add +9.9% |
| GLPI Gaming and Leisure Propertie | 4.23% | 570,099 | $25.5M | Add +29.0% |
| CBRE CBRE Group Inc. Class A | 3.41% | 127,512 | $20.5M | Reduce -10.4% |
| MAR Marriott International Class A | 3.28% | 63,655 | $19.7M | Reduce -14.1% |
| RHP Ryman Hospitality Properties | 3.20% | 203,643 | $19.3M | Add +90.7% |
| PLD Prologis Inc. | 2.84% | 133,713 | $17.1M | Reduce -36.3% |
| CURB Curbline Properties Corp. | 0.84% | 217,464 | $5.0M | New |
Portfolio Sells Q3 2025 → Q4 2025
| EXR Extra Space Storage Inc. | Sold out | 0.00% | −3.56 |
| CCI Crown Castle Inc. | Sold out | 0.00% | −2.30 |
| SPG Simon Property Group Inc. | Reduce -18.8% | 5.15% | −1.95 |
| PLD Prologis Inc. | Reduce -36.3% | 2.84% | −1.58 |
| ESRT Empire State Realty Trust-A | Sold out | 0.00% | −1.43 |
| NHI Natl Health Investors Inc. | Reduce -5.2% | 5.24% | −1.11 |
| SKT Tanger Inc. | Reduce -8.4% | 4.59% | −1.02 |
| CBRE CBRE Group Inc. Class A | Reduce -10.4% | 3.41% | −0.71 |
| AVB Avalonbay Communities Inc. | Sold out | 0.00% | −0.68 |
| UDR Udr Inc. | Sold out | 0.00% | −0.66 |
| AHR American Healthcare REIT Inc. | Reduce -8.6% | 8.24% | −0.64 |
| MAR Marriott International Class A | Reduce -14.1% | 3.28% | −0.26 |
| VTR Ventas Inc. | Reduce -3.2% | 6.50% | −0.21 |
Portfolio Buys Q3 2025 → Q4 2025
| NSA National Storage Affiliates | New | 6.16% | +6.16 |
| EQIX Equinix Inc. | Add +81.7% | 7.38% | +2.79 |
| CSR Centerspace | Add +38.2% | 9.19% | +2.71 |
| FR First Industrial Realty TR | Add +28.4% | 8.69% | +1.98 |
| OUT Outfront Media Inc. | Add +30.6% | 4.97% | +1.78 |
| RHP Ryman Hospitality Properties | Add +90.7% | 3.20% | +1.45 |
| CURB Curbline Properties Corp. | New | 0.84% | +0.84 |
| GLPI Gaming and Leisure Propertie | Add +29.0% | 4.23% | +0.46 |
| SUI Sun Communities Inc. | Add +21.6% | 5.88% | +0.32 |
| AMH American Homes 4 Rent- A | Add +10.1% | 5.76% | −0.22 |
| FUN Six Flags Entertainment Corp. | Add +9.9% | 4.44% | −2.17 |
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 |