Sophron Capital Management L.P.
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Sophron Capital Management L.P. reported 41 stock positions worth $339.4 million. Its top holding was Avalonbay Communities (AVB) at 5.7% of the portfolio, followed by Essex Property Trust (ESS, 5.6%) and Agree Realty (ADC, 5.6%). Compared with Q4 2025, it opened 8 new positions, sold out of 6, added to 18 and reduced 15. The biggest buy was Lennar Class A (LEN, shares +476%) and the biggest sale an exit from Tri Pointe Homes (TPH).
- Most Recent 13F
- Q2 2026
- Location
- SUMMIT, NJ
- CIK
- 0002027142
- Portfolio Value
- $339.4M (Q1 2026)
- SEC Filing
- 0001214659-26-006471 ↗ filed May 15, 2026
Holdings Value
Holdings 41 stocks · $339.4M
| AVB Avalonbay Communities Inc. | 5.74% | 119,163 | $19.5M | Add +104.2% |
| ESS Essex Property Trust Inc. | 5.64% | 79,068 | $19.1M | Add +2.6% |
| ADC Agree Realty Corp. | 5.57% | 250,917 | $18.9M | Reduce -16.9% |
| LEN Lennar Corp. Class A | 5.23% | 204,268 | $17.7M | Add +476.4% |
| VMRK Vivmark Residential filed as EQUITY RESIDENTIAL | 4.49% | 257,495 | $15.2M | Reduce -10.5% |
| MTH Meritage Homes Corp. | 4.29% | 235,255 | $14.5M | Reduce -3.2% |
| PECO Phillips Edison & Company Inc. | 4.23% | 383,746 | $14.4M | Add +3.3% |
| FCPT Four Corners Property Trust | 4.11% | 589,561 | $13.9M | Reduce -12.4% |
| UDR Udr Inc. | 3.84% | 385,812 | $13.0M | Add +9.3% |
| GLPI Gaming and Leisure Propertie | 3.73% | 285,340 | $12.7M | Add +53.7% |
| CHH Choice Hotels Intl Inc. | 3.68% | 120,683 | $12.5M | Reduce -18.9% |
| REXR Rexford Industrial Realty Inc. | 3.45% | 357,439 | $11.7M | Add +92.2% |
| AMH American Homes 4 Rent- A | 3.35% | 407,586 | $11.4M | Add +284.5% |
| RHP Ryman Hospitality Properties | 3.25% | 119,704 | $11.0M | Add +89.4% |
| CUBE Cubesmart | 2.68% | 248,221 | $9.1M | Add +38.8% |
| ELS Equity Lifestyle Properties | 2.66% | 144,735 | $9.0M | Add +8.3% |
| SBAC SBA Communications Corp. | 2.59% | 51,089 | $8.8M | Add +256.8% |
| DRH Diamondrock Hospitality Co. | 2.32% | 841,993 | $7.9M | Reduce -11.3% |
| INVH Invitation Homes Inc. | 2.32% | 317,269 | $7.9M | Reduce -9.7% |
| PSA Public Storage | 2.31% | 28,889 | $7.8M | Reduce -21.0% |
| EGP Eastgroup Properties Inc. | 2.30% | 42,127 | $7.8M | Add +10.5% |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 2.15% | 266,763 | $7.3M | Reduce -15.8% |
| HST Host Hotels & Resorts Inc. | 2.02% | 358,267 | $6.9M | New |
| WH Wyndham Hotels & Resorts Inc. | 2.02% | 84,358 | $6.9M | Reduce -34.0% |
| LXP LXP Industrial Trust | 1.73% | 127,219 | $5.9M | New |
| DLR Digital Realty Trust Inc. | 1.62% | 30,457 | $5.5M | Reduce -25.2% |
| NNN NNN REIT Inc. | 1.50% | 121,122 | $5.1M | Reduce -14.6% |
| BNL Broadstone Net Lease Inc. | 1.38% | 256,949 | $4.7M | Reduce -37.6% |
| EXR Extra Space Storage Inc. | 1.26% | 32,701 | $4.3M | Add +29.8% |
| CCI Crown Castle Inc. | 1.15% | 47,931 | $3.9M | Add +76.1% |
| FRT Federal Realty Invs Trust | 1.10% | 35,021 | $3.7M | New |
| AMT American Tower Corp. | 1.08% | 21,212 | $3.7M | Reduce -67.0% |
| DOC Healthpeak Properties Inc. | 1.07% | 221,423 | $3.6M | Add +27.8% |
| IRT Independence Realty Trust Inc. | 0.93% | 211,234 | $3.1M | New |
| NHI Natl Health Investors Inc. filed as NATIONAL HEALTH INVS INC | 0.84% | 35,414 | $2.9M | Reduce -17.3% |
| JAN Janus Living Inc. Class-A-1 | 0.69% | 100,042 | $2.4M | New |
| SUI Sun Communities Inc. filed as SUN CMNTYS INC | 0.54% | 14,571 | $1.8M | Add +16.7% |
| SILA Sila Realty Trust Inc. | 0.42% | 59,811 | $1.4M | Add +33.4% |
| HIW Highwoods Properties Inc. | 0.31% | 49,717 | $1.1M | New |
| ARI Apollo Commercial Real Estat | 0.22% | 70,484 | $744K | New |
| STAG Stag Industrial Inc. | 0.19% | 17,493 | $631K | New |
Portfolio Sells Q4 2025 → Q1 2026
| TPH Tri Pointe Homes Inc. | Sold out | 0.00% | −3.39 |
| AMT American Tower Corp. | Reduce -67.0% | 1.08% | −2.55 |
| REG Regency Centers Corp. | Sold out | 0.00% | −1.68 |
| ADC Agree Realty Corp. | Reduce -16.9% | 5.57% | −1.42 |
| KIM Kimco Realty Corp. | Sold out | 0.00% | −1.35 |
| VMRK Vivmark Residential | Reduce -10.5% | 4.49% | −1.35 |
| WH Wyndham Hotels & Resorts Inc. | Reduce -34.0% | 2.02% | −1.09 |
| BNL Broadstone Net Lease Inc. | Reduce -37.6% | 1.38% | −0.92 |
| FCPT Four Corners Property Trust | Reduce -12.4% | 4.11% | −0.88 |
| CHH Choice Hotels Intl Inc. | Reduce -18.9% | 3.68% | −0.88 |
| MTH Meritage Homes Corp. | Reduce -3.2% | 4.29% | −0.86 |
| EQIX Equinix Inc. | Sold out | 0.00% | −0.85 |
| INVH Invitation Homes Inc. | Reduce -9.7% | 2.32% | −0.82 |
| PSA Public Storage | Reduce -21.0% | 2.31% | −0.75 |
| VICI Vici Properties Inc. | Reduce -15.8% | 2.15% | −0.72 |
| FR First Industrial Realty TR | Sold out | 0.00% | −0.57 |
| DRH Diamondrock Hospitality Co. | Reduce -11.3% | 2.32% | −0.41 |
| DLR Digital Realty Trust Inc. | Reduce -25.2% | 1.62% | −0.41 |
| NNN NNN REIT Inc. | Reduce -14.6% | 1.50% | −0.31 |
| NHI Natl Health Investors Inc. | Reduce -17.3% | 0.84% | −0.21 |
| NTST Netstreit Corp. | Sold out | 0.00% | −0.17 |
Portfolio Buys Q4 2025 → Q1 2026
| LEN Lennar Corp. Class A | Add +476.4% | 5.23% | +4.06 |
| AVB Avalonbay Communities Inc. | Add +104.2% | 5.74% | +2.33 |
| AMH American Homes 4 Rent- A | Add +284.5% | 3.35% | +2.26 |
| HST Host Hotels & Resorts Inc. | New | 2.02% | +2.02 |
| LXP LXP Industrial Trust | New | 1.73% | +1.73 |
| SBAC SBA Communications Corp. | Add +256.8% | 2.59% | +1.70 |
| RHP Ryman Hospitality Properties | Add +89.4% | 3.25% | +1.33 |
| REXR Rexford Industrial Realty Inc. | Add +92.2% | 3.45% | +1.13 |
| FRT Federal Realty Invs Trust | New | 1.10% | +1.10 |
| GLPI Gaming and Leisure Propertie | Add +53.7% | 3.73% | +1.06 |
| IRT Independence Realty Trust Inc. | New | 0.93% | +0.93 |
| JAN Janus Living Inc. Class-A-1 | New | 0.69% | +0.69 |
| CUBE Cubesmart | Add +38.8% | 2.68% | +0.61 |
| CCI Crown Castle Inc. | Add +76.1% | 1.15% | +0.37 |
| HIW Highwoods Properties Inc. | New | 0.31% | +0.31 |
| ARI Apollo Commercial Real Estat | New | 0.22% | +0.22 |
| EXR Extra Space Storage Inc. | Add +29.8% | 1.26% | +0.21 |
| STAG Stag Industrial Inc. | New | 0.19% | +0.19 |
| DOC Healthpeak Properties Inc. | Add +27.8% | 1.07% | +0.18 |
| EGP Eastgroup Properties Inc. | Add +10.5% | 2.30% | +0.12 |
| SILA Sila Realty Trust Inc. | Add +33.4% | 0.42% | +0.08 |
| ELS Equity Lifestyle Properties | Add +8.3% | 2.66% | +0.06 |
| SUI Sun Communities Inc. | Add +16.7% | 0.54% | +0.04 |
| PECO Phillips Edison & Company Inc. | Add +3.3% | 4.23% | −0.02 |
| UDR Udr Inc. | Add +9.3% | 3.84% | −0.32 |
| ESS Essex Property Trust Inc. | Add +2.6% | 5.64% | −0.85 |
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 |