Sophron Capital Management L.P.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Sophron Capital Management L.P. reported 39 stock positions worth $326.7 million. Its top holding was Agree Realty (ADC) at 7.9% of the portfolio, followed by Gaming and Leisure Propertie (GLPI, 6.9%) and Avalonbay Communities (AVB, 5.7%). Compared with Q1 2025, it opened 8 new positions, sold out of 8, added to 18 and reduced 13. The biggest buy was Gaming and Leisure Propertie (GLPI, shares +1250%) and the biggest sale Marriott International Class A (MAR, shares −93%).
- Most Recent 13F
- Q2 2026
- Location
- SUMMIT, NJ
- CIK
- 0002027142
- Portfolio Value
- $326.7M (Q2 2025)
- SEC Filing
- 0001214659-25-012232 ↗ filed Aug 14, 2025
Holdings Value
Holdings 39 stocks · $326.7M
| ADC Agree Realty Corp. | 7.88% | 352,401 | $25.7M | Add +98.1% |
| GLPI Gaming and Leisure Propertie | 6.91% | 483,796 | $22.6M | Add +1250.0% |
| AVB Avalonbay Communities Inc. | 5.74% | 92,103 | $18.7M | Reduce -18.2% |
| MTH Meritage Homes Corp. | 5.39% | 262,994 | $17.6M | New |
| ESS Essex Property Trust Inc. | 5.23% | 60,302 | $17.1M | Reduce -5.8% |
| ELS Equity Lifestyle Properties | 4.82% | 255,437 | $15.8M | Add +108.5% |
| WH Wyndham Hotels & Resorts Inc. | 4.50% | 181,063 | $14.7M | Add +197.6% |
| VMRK Vivmark Residential filed as EQUITY RESIDENTIAL | 4.41% | 213,708 | $14.4M | Reduce -27.1% |
| PECO Phillips Edison & Company Inc. | 4.19% | 391,032 | $13.7M | Add +27.8% |
| DRH Diamondrock Hospitality Co. | 3.67% | 1,564,318 | $12.0M | Reduce -12.2% |
| FRT Federal Realty Invs Trust | 3.62% | 124,605 | $11.8M | Add +3.7% |
| BNL Broadstone Net Lease Inc. | 3.30% | 672,619 | $10.8M | Add +68.3% |
| PSA Public Storage | 2.87% | 31,994 | $9.4M | Add +19.7% |
| AMH American Homes 4 Rent- A | 2.83% | 256,099 | $9.2M | Add +24.5% |
| LEN Lennar Corp. Class A | 2.59% | 76,542 | $8.5M | New |
| FR First Industrial Realty TR | 2.59% | 175,816 | $8.5M | Add +733.7% |
| PLD Prologis Inc. | 2.58% | 80,031 | $8.4M | Add +80.9% |
| IRT Independence Realty Trust Inc. | 2.46% | 454,296 | $8.0M | New |
| REXR Rexford Industrial Realty Inc. | 2.44% | 224,176 | $8.0M | Reduce -38.6% |
| FCPT Four Corners Property Trust | 2.28% | 276,777 | $7.4M | Add +33.1% |
| EQIX Equinix Inc. | 2.09% | 8,599 | $6.8M | New |
| CCI Crown Castle Inc. | 2.07% | 65,972 | $6.8M | Add +177.8% |
| CHH Choice Hotels Intl Inc. | 2.00% | 51,548 | $6.5M | Add +74.2% |
| CUBE Cubesmart | 1.89% | 145,382 | $6.2M | Reduce -17.1% |
| LXP LXP Industrial Trust | 1.82% | 719,003 | $5.9M | Reduce -18.9% |
| NNN NNN REIT Inc. | 1.58% | 119,377 | $5.2M | Reduce -40.6% |
| DOC Healthpeak Properties Inc. | 1.31% | 244,006 | $4.3M | Reduce -15.1% |
| EXR Extra Space Storage Inc. | 1.21% | 26,747 | $3.9M | Add +140.8% |
| HR Healthcare Realty Trust Inc. | 1.17% | 241,090 | $3.8M | Reduce -7.0% |
| AMT American Tower Corp. | 1.08% | 15,993 | $3.5M | Add +101.3% |
| UDR Udr Inc. | 0.77% | 61,432 | $2.5M | New |
| SUI Sun Communities Inc. filed as SUN CMNTYS INC | 0.64% | 16,577 | $2.1M | Add +13.7% |
| SILA Sila Realty Trust Inc. | 0.45% | 62,189 | $1.5M | New |
| DLR Digital Realty Trust Inc. | 0.39% | 7,275 | $1.3M | Reduce -91.1% |
| MAR Marriott International Class A | 0.36% | 4,278 | $1.2M | Reduce -93.0% |
| KIM Kimco Realty Corp. | 0.35% | 54,795 | $1.2M | Reduce -77.5% |
| NHI Natl Health Investors Inc. filed as NATIONAL HEALTH INVS INC | 0.31% | 14,396 | $1.0M | New |
| KREF KKR Real Estate Finance Trus | 0.15% | 57,138 | $501K | Add +57.1% |
| RLJ RLJ Lodging Trust | 0.04% | 19,303 | $141K | New |
Portfolio Sells Q1 2025 → Q2 2025
| MAR Marriott International Class A | Reduce -93.0% | 0.36% | −4.59 |
| VICI Vici Properties Inc. | Sold out | 0.00% | −3.89 |
| DLR Digital Realty Trust Inc. | Reduce -91.1% | 0.39% | −3.59 |
| VMRK Vivmark Residential | Reduce -27.1% | 4.41% | −2.72 |
| HST Host Hotels & Resorts Inc. | Sold out | 0.00% | −2.54 |
| AVB Avalonbay Communities Inc. | Reduce -18.2% | 5.74% | −2.48 |
| REXR Rexford Industrial Realty Inc. | Reduce -38.6% | 2.44% | −2.42 |
| TPH Tri Pointe Homes Inc. | Sold out | 0.00% | −2.38 |
| SBAC SBA Communications Corp. | Sold out | 0.00% | −2.19 |
| ESS Essex Property Trust Inc. | Reduce -5.8% | 5.23% | −1.45 |
| KIM Kimco Realty Corp. | Reduce -77.5% | 0.35% | −1.40 |
| NNN NNN REIT Inc. | Reduce -40.6% | 1.58% | −1.34 |
| DRH Diamondrock Hospitality Co. | Reduce -12.2% | 3.67% | −1.01 |
| RHP Ryman Hospitality Properties | Sold out | 0.00% | −0.99 |
| LXP LXP Industrial Trust | Reduce -18.9% | 1.82% | −0.79 |
| DOC Healthpeak Properties Inc. | Reduce -15.1% | 1.31% | −0.67 |
| CUBE Cubesmart | Reduce -17.1% | 1.89% | −0.66 |
| BRX Brixmor Property Group Inc. | Sold out | 0.00% | −0.38 |
| HR Healthcare Realty Trust Inc. | Reduce -7.0% | 1.17% | −0.32 |
| DHI D.R. Horton Inc. | Sold out | 0.00% | −0.18 |
| PK Park Hotels & Resorts Inc. | Sold out | 0.00% | −0.04 |
Portfolio Buys Q1 2025 → Q2 2025
| GLPI Gaming and Leisure Propertie | Add +1250.0% | 6.91% | +6.29 |
| MTH Meritage Homes Corp. | New | 5.39% | +5.39 |
| ADC Agree Realty Corp. | Add +98.1% | 7.88% | +3.21 |
| WH Wyndham Hotels & Resorts Inc. | Add +197.6% | 4.50% | +2.63 |
| LEN Lennar Corp. Class A | New | 2.59% | +2.59 |
| IRT Independence Realty Trust Inc. | New | 2.46% | +2.46 |
| FR First Industrial Realty TR | Add +733.7% | 2.59% | +2.20 |
| EQIX Equinix Inc. | New | 2.09% | +2.09 |
| ELS Equity Lifestyle Properties | Add +108.5% | 4.82% | +2.04 |
| CCI Crown Castle Inc. | Add +177.8% | 2.07% | +1.23 |
| BNL Broadstone Net Lease Inc. | Add +68.3% | 3.30% | +0.99 |
| PLD Prologis Inc. | Add +80.9% | 2.58% | +0.89 |
| UDR Udr Inc. | New | 0.77% | +0.77 |
| CHH Choice Hotels Intl Inc. | Add +74.2% | 2.00% | +0.67 |
| EXR Extra Space Storage Inc. | Add +140.8% | 1.21% | +0.65 |
| AMT American Tower Corp. | Add +101.3% | 1.08% | +0.49 |
| SILA Sila Realty Trust Inc. | New | 0.45% | +0.45 |
| PECO Phillips Edison & Company Inc. | Add +27.8% | 4.19% | +0.40 |
| NHI Natl Health Investors Inc. | New | 0.31% | +0.31 |
| FCPT Four Corners Property Trust | Add +33.1% | 2.28% | +0.25 |
| AMH American Homes 4 Rent- A | Add +24.5% | 2.83% | +0.18 |
| PSA Public Storage | Add +19.7% | 2.87% | +0.15 |
| RLJ RLJ Lodging Trust | New | 0.04% | +0.04 |
| KREF KKR Real Estate Finance Trus | Add +57.1% | 0.15% | +0.02 |
| SUI Sun Communities Inc. | Add +13.7% | 0.64% | +0.00 |
| FRT Federal Realty Invs Trust | Add +3.7% | 3.62% | −0.37 |
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 |