Sophron Capital Management L.P.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Sophron Capital Management L.P. reported 39 stock positions worth $294.1 million. Its top holding was Avalonbay Communities (AVB) at 8.2% of the portfolio, followed by Vivmark Residential (VMRK, 7.1%) and Essex Property Trust (ESS, 6.7%). Compared with Q4 2024, it opened 6 new positions, sold out of 5, added to 21 and reduced 12. The biggest buy was Digital Realty Trust (DLR, shares +1397%) and the biggest sale American Tower (AMT, shares −88%).
- Most Recent 13F
- Q2 2026
- Location
- SUMMIT, NJ
- CIK
- 0002027142
- Portfolio Value
- $294.1M (Q1 2025)
- SEC Filing
- 0001214659-25-007838 ↗ filed May 15, 2025
Holdings Value
Holdings 39 stocks · $294.1M
| AVB Avalonbay Communities Inc. | 8.22% | 112,631 | $24.2M | Add +110.8% |
| VMRK Vivmark Residential filed as EQUITY RESIDENTIAL | 7.14% | 293,327 | $21.0M | Add +34.4% |
| ESS Essex Property Trust Inc. | 6.68% | 64,044 | $19.6M | Add +23.7% |
| MAR Marriott International Class A | 4.95% | 61,152 | $14.6M | Add +88.5% |
| REXR Rexford Industrial Realty Inc. | 4.86% | 364,941 | $14.3M | Reduce -6.0% |
| DRH Diamondrock Hospitality Co. | 4.67% | 1,780,997 | $13.7M | Add +63.9% |
| ADC Agree Realty Corp. | 4.67% | 177,887 | $13.7M | Reduce -6.4% |
| FRT Federal Realty Invs Trust | 4.00% | 120,127 | $11.8M | Add +91.3% |
| DLR Digital Realty Trust Inc. | 3.98% | 81,657 | $11.7M | Add +1397.2% |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 3.89% | 350,575 | $11.4M | Reduce -24.8% |
| PECO Phillips Edison & Company Inc. | 3.80% | 305,973 | $11.2M | Add +150.2% |
| NNN NNN REIT Inc. | 2.92% | 201,021 | $8.6M | Add +70.6% |
| ELS Equity Lifestyle Properties | 2.78% | 122,530 | $8.2M | Add +171.1% |
| PSA Public Storage | 2.72% | 26,726 | $8.0M | Reduce -7.4% |
| AMH American Homes 4 Rent- A | 2.64% | 205,653 | $7.8M | Add +214.7% |
| LXP LXP Industrial Trust | 2.61% | 886,694 | $7.7M | Reduce -33.8% |
| CUBE Cubesmart | 2.55% | 175,412 | $7.5M | Add +20.8% |
| HST Host Hotels & Resorts Inc. | 2.54% | 526,648 | $7.5M | Add +1.1% |
| TPH Tri Pointe Homes Inc. | 2.38% | 219,427 | $7.0M | New |
| BNL Broadstone Net Lease Inc. | 2.32% | 399,642 | $6.8M | Add +10.8% |
| SBAC SBA Communications Corp. | 2.19% | 29,263 | $6.4M | Add +12.3% |
| FCPT Four Corners Property Trust | 2.03% | 207,922 | $6.0M | Add +15.2% |
| DOC Healthpeak Properties Inc. | 1.98% | 287,472 | $5.8M | Add +25.0% |
| WH Wyndham Hotels & Resorts Inc. | 1.87% | 60,837 | $5.5M | New |
| KIM Kimco Realty Corp. | 1.75% | 242,989 | $5.2M | New |
| PLD Prologis Inc. | 1.68% | 44,234 | $4.9M | New |
| HR Healthcare Realty Trust Inc. | 1.49% | 259,309 | $4.4M | Add +37.7% |
| CHH Choice Hotels Intl Inc. | 1.34% | 29,597 | $3.9M | Reduce -45.7% |
| RHP Ryman Hospitality Properties | 0.99% | 31,887 | $2.9M | Reduce -58.7% |
| CCI Crown Castle Inc. | 0.84% | 23,745 | $2.5M | Reduce -58.3% |
| SUI Sun Communities Inc. filed as SUN CMNTYS INC | 0.64% | 14,580 | $1.9M | Reduce -38.0% |
| GLPI Gaming and Leisure Propertie | 0.62% | 35,838 | $1.8M | Add +67.5% |
| AMT American Tower Corp. | 0.59% | 7,947 | $1.7M | Reduce -88.4% |
| EXR Extra Space Storage Inc. | 0.56% | 11,108 | $1.6M | Add +43.9% |
| FR First Industrial Realty TR | 0.39% | 21,088 | $1.1M | Reduce -55.0% |
| BRX Brixmor Property Group Inc. | 0.38% | 42,563 | $1.1M | Add +412.8% |
| DHI D.R. Horton Inc. | 0.18% | 4,206 | $535K | Reduce -93.7% |
| KREF KKR Real Estate Finance Trus | 0.13% | 36,379 | $393K | New |
| PK Park Hotels & Resorts Inc. | 0.04% | 12,104 | $129K | New |
Portfolio Sells Q4 2024 → Q1 2025
| AMT American Tower Corp. | Reduce -88.4% | 0.59% | −4.39 |
| DHI D.R. Horton Inc. | Reduce -93.7% | 0.18% | −3.52 |
| RHP Ryman Hospitality Properties | Reduce -58.7% | 0.99% | −2.20 |
| LEN Lennar Corp. Class A | Sold out | 0.00% | −2.11 |
| MTH Meritage Homes Corp. | Sold out | 0.00% | −1.87 |
| CHH Choice Hotels Intl Inc. | Reduce -45.7% | 1.34% | −1.72 |
| LXP LXP Industrial Trust | Reduce -33.8% | 2.61% | −1.69 |
| VICI Vici Properties Inc. | Reduce -24.8% | 3.89% | −1.49 |
| INVH Invitation Homes Inc. | Sold out | 0.00% | −1.26 |
| CCI Crown Castle Inc. | Reduce -58.3% | 0.84% | −1.20 |
| REXR Rexford Industrial Realty Inc. | Reduce -6.0% | 4.86% | −1.08 |
| O Realty Income Corp. | Sold out | 0.00% | −1.04 |
| STAG Stag Industrial Inc. | Sold out | 0.00% | −0.77 |
| PSA Public Storage | Reduce -7.4% | 2.72% | −0.70 |
| ADC Agree Realty Corp. | Reduce -6.4% | 4.67% | −0.63 |
| FR First Industrial Realty TR | Reduce -55.0% | 0.39% | −0.54 |
| SUI Sun Communities Inc. | Reduce -38.0% | 0.64% | −0.51 |
Portfolio Buys Q4 2024 → Q1 2025
| DLR Digital Realty Trust Inc. | Add +1397.2% | 3.98% | +3.60 |
| AVB Avalonbay Communities Inc. | Add +110.8% | 8.22% | +3.57 |
| TPH Tri Pointe Homes Inc. | New | 2.38% | +2.38 |
| PECO Phillips Edison & Company Inc. | Add +150.2% | 3.80% | +1.98 |
| WH Wyndham Hotels & Resorts Inc. | New | 1.87% | +1.87 |
| KIM Kimco Realty Corp. | New | 1.75% | +1.75 |
| PLD Prologis Inc. | New | 1.68% | +1.68 |
| AMH American Homes 4 Rent- A | Add +214.7% | 2.64% | +1.68 |
| ELS Equity Lifestyle Properties | Add +171.1% | 2.78% | +1.59 |
| MAR Marriott International Class A | Add +88.5% | 4.95% | +1.37 |
| FRT Federal Realty Invs Trust | Add +91.3% | 4.00% | +1.22 |
| NNN NNN REIT Inc. | Add +70.6% | 2.92% | +1.01 |
| VMRK Vivmark Residential | Add +34.4% | 7.14% | +0.95 |
| ESS Essex Property Trust Inc. | Add +23.7% | 6.68% | +0.83 |
| DRH Diamondrock Hospitality Co. | Add +63.9% | 4.67% | +0.80 |
| BRX Brixmor Property Group Inc. | Add +412.8% | 0.38% | +0.29 |
| HR Healthcare Realty Trust Inc. | Add +37.7% | 1.49% | +0.23 |
| GLPI Gaming and Leisure Propertie | Add +67.5% | 0.62% | +0.21 |
| DOC Healthpeak Properties Inc. | Add +25.0% | 1.98% | +0.13 |
| KREF KKR Real Estate Finance Trus | New | 0.13% | +0.13 |
| EXR Extra Space Storage Inc. | Add +43.9% | 0.56% | +0.10 |
| FCPT Four Corners Property Trust | Add +15.2% | 2.03% | +0.09 |
| SBAC SBA Communications Corp. | Add +12.3% | 2.19% | +0.09 |
| CUBE Cubesmart | Add +20.8% | 2.55% | +0.09 |
| BNL Broadstone Net Lease Inc. | Add +10.8% | 2.32% | +0.05 |
| PK Park Hotels & Resorts Inc. | New | 0.04% | +0.04 |
| HST Host Hotels & Resorts Inc. | Add +1.1% | 2.54% | −1.06 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 43 | $322.7M | ADC, HST, LEN, AVB, FCPT |
| Q1 2026 | 41 | $339.4M | AVB, ESS, ADC, LEN, VMRK |
| Q4 2025 | 39 | $311.1M | ADC, ESS, VMRK, MTH, FCPT |
| Q3 2025 | 39 | $324.6M | ADC, MTH, PECO, AVB, ESS |
| Q2 2025 | 39 | $326.7M | ADC, GLPI, AVB, MTH, ESS |
| Q1 2025 | 39 | $294.1M | AVB, VMRK, ESS, MAR, REXR |
| Q4 2024 | 38 | $253.0M | VMRK, REXR, ESS, VICI, ADC |