Uniplan Investment Counsel, Inc.

Name: Uniplan Investment Counsel, Inc. 13F holdings, Q1 2026
Creator: Uniplan Investment Counsel, Inc.
Published: 2026-05-15

Q2 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Uniplan Investment Counsel, Inc. reported 168 stock positions worth $943.6 million. Its top holding was Equinix (EQIX) at 5.9% of the portfolio, followed by Welltower (WELL, 5.8%) and American Tower (AMT, 4.0%). Compared with Q4 2025, it opened 43 new positions, sold out of 45, added to 40 and reduced 85. The biggest buy was Wisdomtree Floating Rate Tre (USFR, shares +164%) and the biggest sale Gaming and Leisure Propertie (GLPI, shares −89%).

Most Recent 13F: Q2 2026
Location: MILWAUKEE, WI
CIK: 0001520710
Portfolio Value: $943.6M (Q1 2026)
SEC Filing: 0001520710-26-000005 ↗ filed May 15, 2026

Holdings Value

Holdings 168 stocks · $943.6M


EQIX Equinix Inc.	5.92%	56,974	$55.8M	Add +0.7%
WELL Welltower Inc.	5.76%	275,099	$54.4M	Reduce -4.1%
AMT American Tower Corp.	4.05%	221,379	$38.2M	Reduce -7.0%
SPG Simon Property Group Inc.	3.89%	196,642	$36.7M	Reduce -13.9%
USFR Wisdomtree Floating Rate Tre	3.47%	649,711	$32.7M	Add +164.3%
PLD Prologis Inc.	3.45%	246,394	$32.6M	Add +5.2%
EGP Eastgroup Properties Inc.	3.01%	153,375	$28.4M	Reduce -6.7%
TRNO Terreno Realty Corp.	2.96%	454,847	$27.9M	Reduce -6.8%
VTR Ventas Inc.	2.88%	331,765	$27.1M	Reduce -7.2%
KRG Kite Realty Group Trust	2.84%	1,089,793	$26.8M	Reduce -6.3%
DLR Digital Realty Trust Inc.	2.44%	127,970	$23.1M	Add +70.9%
O Realty Income Corp.	2.19%	337,052	$20.6M	Add +55.2%
SUI Sun Communities Inc. filed as SUN CMNTYS INC	1.64%	123,123	$15.5M	Add +121.3%
EXR Extra Space Storage Inc.	1.61%	115,717	$15.2M	Reduce -6.5%
CCI Crown Castle Inc.	1.36%	158,153	$12.9M	Reduce -36.7%
ESS Essex Property Trust Inc.	1.29%	50,157	$12.1M	Reduce -6.8%
VICI Vici Properties Inc. filed as VICI PPTYS INC	1.25%	430,339	$11.8M	Reduce -6.1%
PSA Public Storage	1.22%	42,346	$11.5M	Reduce -43.4%
REG Regency Centers Corp.	1.20%	149,781	$11.3M	Reduce -9.3%
ELS Equity Lifestyle Properties	1.20%	181,359	$11.3M	Reduce -6.9%
OHI Omega Healthcare Investors	1.17%	252,200	$11.1M	Add +9.8%
ADC Agree Realty Corp.	1.14%	143,159	$10.8M	Add +14.0%
OUT Outfront Media Inc.	1.09%	387,143	$10.3M	Reduce -8.2%
AVB Avalonbay Communities Inc.	1.01%	58,481	$9.6M	Reduce -8.2%
WY Weyerhaeuser Co.	0.98%	379,959	$9.3M	Add +49.0%
FPI Farmland Partners Inc.	0.98%	825,997	$9.3M	Reduce -7.5%
LINC Lincoln Educational Services	0.97%	225,681	$9.2M	Reduce -28.0%
CTRE Caretrust REIT Inc.	0.92%	235,719	$8.6M	Add +22.2%
LGND Ligand Pharmaceuticals	0.85%	40,185	$8.0M	Reduce -5.1%
SII Sprott Inc.	0.85%	55,932	$8.0M	Reduce -38.0%
XRN Chiron Real Estate Inc.	0.84%	239,525	$7.9M	Add +90.6%
HST Host Hotels & Resorts Inc.	0.84%	411,672	$7.9M	Add +16.0%
SEI Solaris Energy Infrastructur	0.82%	136,972	$7.7M	Reduce -5.1%
WPC WP Carey Inc.	0.81%	112,789	$7.7M	Add +64.4%
NPKI NPK International Inc.	0.81%	527,684	$7.6M	Reduce -6.0%
MAMA Mama's Creations Inc.	0.79%	484,717	$7.4M	Reduce -5.6%
WULF Terawulf Inc.	0.77%	503,544	$7.3M	Reduce -18.9%
MAA Mid-America Apartment Comm	0.76%	58,484	$7.1M	Reduce -31.9%
UTI Universal Technical Institut	0.72%	188,391	$6.8M	Reduce -11.7%
GRC Gorman-Rupp Co.	0.71%	107,904	$6.7M	Reduce -6.1%
AHR American Healthcare REIT Inc.	0.69%	138,028	$6.5M	Add +23.8%
AZZ Azz Inc.	0.66%	50,107	$6.3M	Reduce -6.7%
BLX Bladex Inc. filed as Banco Latinoamericano de Comercio Exterior SA	0.65%	119,944	$6.1M	Reduce -6.4%
IRMD Iradimed Corp.	0.63%	62,141	$6.0M	Reduce -5.4%
EZPW Ezcorp Inc. Class A	0.63%	234,171	$5.9M	Reduce -5.9%
FR First Industrial Realty TR	0.63%	102,051	$5.9M	Add +292.6%
AXGN Axogen Inc.	0.59%	167,910	$5.6M	Reduce -6.0%
SRTA Strata Critical Medical Inc.	0.58%	1,300,317	$5.4M	Add +2.9%
INVA Innoviva Inc.	0.57%	229,338	$5.3M	Add +4.5%
PKE Park Aerospace Corp.	0.54%	187,591	$5.1M	Reduce -6.1%
WMB Williams Cos Inc.	0.54%	69,542	$5.1M	Reduce -16.1%
HII Huntington Ingalls Industrie	0.52%	12,968	$4.9M	Add +20.1%
NWPX NWPX Infrastructure Inc.	0.52%	63,256	$4.9M	Reduce -6.0%
IDCC Interdigital Inc.	0.51%	16,073	$4.9M	Reduce -36.6%
EPR Epr Properties filed as EPR PPTYS	0.51%	96,027	$4.8M	Reduce -7.0%
SBRA Sabra Health Care REIT Inc.	0.51%	248,230	$4.8M	Reduce -6.4%
HWKN Hawkins Inc.	0.50%	30,593	$4.7M	Reduce -6.3%
VLO Valero Energy Corp.	0.50%	18,992	$4.7M	Reduce -3.6%
FANG Diamondback Energy Inc.	0.50%	23,717	$4.7M	Reduce -3.6%
ASTE Astec Industries Inc.	0.49%	85,783	$4.6M	Add +6.1%
NSSC Napco Security Technologies	0.47%	113,389	$4.5M	Reduce -5.8%
GHM Graham Corp.	0.47%	56,565	$4.5M	Add +12.9%
RPRX Royalty Pharma PLC Class A	0.45%	88,738	$4.3M	Reduce -3.3%
CPT Camden Property Trust	0.45%	43,522	$4.3M	Reduce -54.3%
BKTI BK Technologies Corporation	0.42%	53,098	$4.0M	Reduce -6.1%
OKE Oneok Inc.	0.40%	41,267	$3.7M	Reduce -4.1%
DAKT Daktronics Inc.	0.39%	188,857	$3.7M	Reduce -6.0%
DHT DHT Holdings Inc.	0.39%	201,383	$3.7M	Reduce -17.2%
ABBV Abbvie Inc.	0.39%	16,800	$3.7M	Reduce -3.2%
BLFS Biolife Solutions Inc.	0.37%	182,837	$3.5M	Reduce -6.0%
INOD Innodata Inc.	0.37%	90,156	$3.5M	Add +13.7%
CWEN Clearway Energy Inc. Class C	0.37%	87,866	$3.5M	Reduce -3.2%
AMGN Amgen Inc.	0.36%	9,677	$3.4M	Reduce -4.1%
SCCO Southern Copper Corp.	0.36%	19,726	$3.4M	Reduce -3.7%
PSTL Postal Realty Trust Inc. Class A	0.36%	181,723	$3.4M	Reduce -23.1%
AOSL Alpha & Omega Semiconductor	0.35%	150,154	$3.3M	Reduce -6.1%
MFIN Medallion Financial Corp.	0.35%	385,581	$3.3M	Add +8.3%
BRX Brixmor Property Group Inc.	0.34%	112,723	$3.2M	Reduce -8.8%
CURB Curbline Properties Corp.	0.34%	124,014	$3.2M	Reduce -8.8%
LAMR Lamar Advertising Co. Class A	0.32%	23,874	$3.0M	New
VMRK Vivmark Residential filed as EQUITY RESIDENTIAL	0.31%	50,107	$3.0M	New
SBR Sabine Royalty Trust	0.31%	39,145	$2.9M	Add +34.8%
C Citigroup Inc.	0.30%	25,380	$2.9M	New
ESQ Esquire Financial Holdings I	0.28%	24,833	$2.7M	Reduce -5.9%
ARCC Ares Capital Corp.	0.28%	144,315	$2.6M	Reduce -3.2%
KNTK Kinetik Holdings Inc.	0.26%	51,281	$2.5M	Reduce -3.5%
ATEN A10 Networks Inc.	0.26%	106,268	$2.5M	New
GPGI Gpgi Inc.	0.26%	142,897	$2.4M	Reduce -6.4%
SPOK Spok Holdings Inc. filed as SPOK HLDGS INC	0.24%	209,602	$2.3M	Add +30.2%
COLL Collegium Pharmaceutical Inc.	0.24%	68,747	$2.3M	Reduce -38.5%
WM Waste Management Inc.	0.24%	9,770	$2.2M	Add +72.5%
MRP Millrose Properties	0.24%	79,256	$2.2M	Reduce -3.3%
OMAB Grupo Aeroportuario Cen-ADR	0.23%	18,994	$2.2M	Reduce -30.3%
TGS Transportador Gas-ADR SP B	0.22%	60,079	$2.1M	Add +114.4%
XYLD Global X S&P 500 Cove Call E	0.22%	52,768	$2.1M	Reduce -3.9%
B Barrick Mining Corp.	0.21%	49,329	$2.0M	Reduce -27.8%
Marex Group plc	0.21%	45,095	$2.0M	Add +99.0%
SIGA Siga Technologies Inc.	0.21%	371,413	$2.0M	Reduce -6.2%
GTY Getty Realty Corp.	0.20%	59,163	$1.9M	Reduce -3.1%
EYE National Vision Holdings Inc.	0.20%	72,227	$1.9M	Reduce -5.7%
DVN Devon Energy Corp.	0.19%	36,161	$1.8M	Reduce -3.7%
BN Brookfield Asset Mgmt Inc. filed as BP PLC-SPONS ADR	0.19%	40,365	$1.8M	Add +139.8%
IMAX Imax Corp.	0.18%	45,566	$1.7M	New
AUPH Aurinia Pharmaceuticals Inc.	0.18%	114,601	$1.7M	Reduce -8.8%
CPA Copa Holdings SA Class A	0.18%	14,785	$1.7M	Reduce -1.8%
NGS Natural Gas Services Group	0.17%	43,638	$1.6M	New
AL Sumisho Air Lease Corp. filed as AIR LEASE CORP	0.17%	25,196	$1.6M	Reduce -3.9%
TKR Timken Co.	0.17%	16,269	$1.6M	Reduce -2.2%
GLPI Gaming and Leisure Propertie	0.17%	36,713	$1.6M	Reduce -88.8%
GTLS Chart Industries Inc.	0.17%	7,668	$1.6M	Reduce -3.8%
QQQI Neos Nasdaq-100 High Inc. ETF	0.17%	31,759	$1.6M	Reduce -3.0%
CSGS CSG Systems Intl Inc.	0.16%	19,355	$1.5M	Reduce -61.1%
STRW Strawberry Fields REIT Inc.	0.16%	124,858	$1.5M	Reduce -5.3%
OMCL Omnicell Inc.	0.15%	43,439	$1.5M	Add +48.0%
MNTN MNTN Inc. Class A	0.15%	160,451	$1.4M	Add +62.8%
UMH Umh Properties Inc. filed as UMH PPTYS INC	0.14%	90,824	$1.3M	Reduce -6.4%
HUN Huntsman Corp.	0.13%	94,987	$1.3M	New
PUMP Propetro Holding Corp.	0.13%	82,712	$1.2M	New
MDT Medtronic PLC	0.12%	13,518	$1.2M	Reduce -2.2%
VOXR Vox Royalty Corp.	0.12%	222,486	$1.2M	New
ECO Okeanis Eco Tankers Corp.	0.12%	22,830	$1.2M	New
HZO Marinemax Inc.	0.12%	42,587	$1.2M	New
XHR Xenia Hotels & Resorts Inc.	0.12%	77,270	$1.1M	Reduce -3.3%
MATX Matson Inc.	0.12%	6,934	$1.1M	Add +0.4%
CDNA Caredx Inc.	0.12%	62,773	$1.1M	Add +122.1%
GENI Genius Sports Ltd.	0.11%	234,880	$1.0M	Add +26.0%
NTSK Netskope Inc. Class A	0.10%	114,915	$976K	New
PEP Pepsico Inc.	0.09%	5,660	$879K	Reduce -3.2%
UPS United Parcel Service Class B	0.09%	8,583	$844K	Reduce -5.4%
VNQI Vanguard GLBL Ex-US Real Est	0.09%	18,425	$819K	New
KGS Kodiak Gas Services Inc.	0.08%	12,941	$755K	Add +5.7%
AROC Archrock Inc.	0.07%	18,293	$637K	Add +4.4%
APEI American Public Education	0.07%	10,847	$617K	New
CBOE Cboe Global Markets Inc.	0.01%	480	$135K	Add +222.2%
KEYS Keysight Technologies Inc.	0.01%	248	$70K	New
HAL Halliburton Co.	0.01%	1,752	$68K	Add +27.7%
Q Qnity Electronics Inc.	0.01%	533	$62K	New
VZ Verizon Communications Inc.	0.01%	1,214	$61K	Add +841.1%
LMAT Lemaitre Vascular Inc.	0.01%	451	$49K	New
NFG National Fuel Gas Co.	0.01%	518	$49K	New
ANDE The Andersons Inc.	0.00%	618	$44K	Add +30.9%
NI Nisource Inc.	0.00%	894	$42K	New
BG Bunge Global SA	0.00%	279	$36K	New
RCAT Red Cat Holdings Inc.	0.00%	2,645	$35K	New
AKAM Akamai Technologies Inc.	0.00%	285	$33K	New
CE Celanese Corp.	0.00%	455	$30K	New
OLN Olin Corp.	0.00%	1,007	$30K	New
SRE Sempra	0.00%	285	$28K	New
IDA Idacorp Inc.	0.00%	191	$27K	New
CTVA Corteva Inc.	0.00%	314	$26K	New
T AT&T Inc.	0.00%	887	$26K	New
CAMT Camtek Ltd.	0.00%	169	$26K	New
CVX Chevron Corp.	0.00%	122	$25K	New
MEOH Methanex Corp.	0.00%	420	$25K	New
VIRT Virtu Financial Inc. Class A	0.00%	546	$24K	New
KNSA Kiniksa Pharmaceuticals Ltd.	0.00%	493	$24K	New
NFLX Netflix Inc.	0.00%	241	$23K	New
OXY Occidental Petroleum Corp.	0.00%	326	$21K	New
LSCC Lattice Semiconductor Corp.	0.00%	207	$19K	New
XOM Exxon Mobil Corp.	0.00%	109	$19K	Add +31.3%
ARW Arrow Electronics Inc.	0.00%	112	$16K	New
EMN Eastman Chemical Co.	0.00%	207	$16K	New
NEBIUS GROUP NV	0.00%	144	$15K	New
SETM Sprott Critical Material ETF	0.00%	452	$15K	Reduce -61.6%
HQI Hirequest Inc.	0.00%	1,367	$14K	New
GNRC Generac Holdings Inc.	0.00%	62	$12K	New
TSN Tyson Foods Inc. Class A	0.00%	119	$8K	New
KR Kroger Co.	0.00%	103	$7K	New

Other holdings (15): bonds, preferreds, convertibles and warrants · $30.3M (not counted above)

Security	Class	Shares / Principal	Value	Change
BOEING CO/THE (BA 6 10/15/27)	DEP CONV PFD A	66,505	$4.3M	Reduce -3.9%
ALBEMARLE CORP (ALB 7.25 03/01/27)	7.25% DEP SHS A	54,468	$3.9M	Reduce -3.1%
AT&T INC (T 4.75 PERP C)	PFD	161,172	$3.0M	Reduce -3.6%
PG&E CORP (PCG 6 12/01/27 A)	PFD CONV SER A	61,168	$2.6M	Reduce -2.8%
EPR PROPERTIES (EPR 5.75 PERP C)	PFD C CV 5.75%	110,841	$2.5M	Reduce -4.3%
BANK OF AMERICA CORP (BAC 7.25 PERP L)	7.25%CNV PFD L	1,915	$2.3M	Reduce -5.8%
PUBLIC STORAGE (PSA 5.6 PERP H)	Common Stock	91,300	$2.0M	Reduce -2.6%
PITNEY BOWES INC (PBI 6.7 03/07/43)	Equities	96,287	$1.8M	Add +121.3%
TRITON INTERNATIONAL LTD (TRTN 8 PERP B)	PFD	70,015	$1.7M	Reduce -2.6%
REDWOOD TRUST INC (RWT V10 PERP)	COM	54,783	$1.3M	Reduce -3.6%
ADAMAS TRUST INC (ADAM V7.875 PERP E)	PFD	53,679	$1.3M	Reduce -3.1%
MICROCHIP TECHNOLOGY INC (MCHP 7.5 03/15/28)	DEP SHS REPSTG	18,998	$1.1M	Reduce -4.2%
PEBBLEBROOK HOTEL TRUST (PEB 6.3 PERP F)	6.3 CUM PFD SR F	44,695	$863K	Reduce -2.1%
RLJ LODGING TRUST (RLJ 1.95 PERP A)	CUM CONV PFD A	32,025	$772K	Reduce -2.3%
QXO INC (QXO 5.5 05/15/28 B)	5.50 DEP PFD	13,573	$746K	New

Total filed on the 13F, all lines: $973.9M.

Portfolio Sells Q4 2025 → Q1 2026


GLPI Gaming and Leisure Propertie	Reduce -88.8%	0.17%	−1.35
BXP BXP Inc.	Sold out	0.00%	−1.28
CCI Crown Castle Inc.	Reduce -36.7%	1.36%	−0.94
PSA Public Storage	Reduce -43.4%	1.22%	−0.80
INVH Invitation Homes Inc.	Sold out	0.00%	−0.79
BBW Build-A-Bear Workshop Inc.	Sold out	0.00%	−0.73
SBAC SBA Communications Corp.	Sold out	0.00%	−0.71
CPT Camden Property Trust	Reduce -54.3%	0.45%	−0.64
RDVT Red Violet Inc.	Sold out	0.00%	−0.57
AMH American Homes 4 Rent- A	Sold out	0.00%	−0.56
HHH Howard Hughes Holdings Inc.	Sold out	0.00%	−0.52
SPG Simon Property Group Inc.	Reduce -13.9%	3.89%	−0.50
MAA Mid-America Apartment Comm	Reduce -31.9%	0.76%	−0.48
MAR Marriott International Class A	Sold out	0.00%	−0.34
IDCC Interdigital Inc.	Reduce -36.6%	0.51%	−0.32
PAX Patria Investments Ltd. Class A	Sold out	0.00%	−0.31
COLL Collegium Pharmaceutical Inc.	Reduce -38.5%	0.24%	−0.30
AMT American Tower Corp.	Reduce -7.0%	4.05%	−0.29
DVAX Dynavax Technologies Corp.	Sold out	0.00%	−0.29
LVMUY LVMH Moet Hennessy-Unsp ADR	Sold out	0.00%	−0.29
EFC Ellington Financial Inc.	Sold out	0.00%	−0.26
IRM Iron Mountain Inc.	Sold out	0.00%	−0.26
RYN Rayonier Inc.	Sold out	0.00%	−0.26
GCMG GCM Grosvenor Inc. Class A	Sold out	0.00%	−0.24
PAC Grupo Aeroportuario Pac-ADR	Sold out	0.00%	−0.23
CSGS CSG Systems Intl Inc.	Reduce -61.1%	0.16%	−0.23
PLYM Plymouth Industrial REIT Inc.	Sold out	0.00%	−0.23
AVB Avalonbay Communities Inc.	Reduce -8.2%	1.01%	−0.19
ESS Essex Property Trust Inc.	Reduce -6.8%	1.29%	−0.18
KTB Kontoor Brands Inc.	Sold out	0.00%	−0.17
QCOM Qualcomm Inc.	Sold out	0.00%	−0.14
BLFS Biolife Solutions Inc.	Reduce -6.0%	0.37%	−0.12
B Barrick Mining Corp.	Reduce -27.8%	0.21%	−0.10
VICI Vici Properties Inc.	Reduce -6.1%	1.25%	−0.09
OMAB Grupo Aeroportuario Cen-ADR	Reduce -30.3%	0.23%	−0.08
SII Sprott Inc.	Reduce -38.0%	0.85%	−0.07
EXR Extra Space Storage Inc.	Reduce -6.5%	1.61%	−0.06
KRG Kite Realty Group Trust	Reduce -6.3%	2.84%	−0.06
NSSC Napco Security Technologies	Reduce -5.8%	0.47%	−0.05
GPGI Gpgi Inc.	Reduce -6.4%	0.26%	−0.05
SIGA Siga Technologies Inc.	Reduce -6.2%	0.21%	−0.04
PSTL Postal Realty Trust Inc. Class A	Reduce -23.1%	0.36%	−0.04
ARCC Ares Capital Corp.	Reduce -3.2%	0.28%	−0.04
EGP Eastgroup Properties Inc.	Reduce -6.7%	3.01%	−0.03
IRMD Iradimed Corp.	Reduce -5.4%	0.63%	−0.03
AUPH Aurinia Pharmaceuticals Inc.	Reduce -8.8%	0.18%	−0.03
EPR Epr Properties	Reduce -7.0%	0.51%	−0.03
ELS Equity Lifestyle Properties	Reduce -6.9%	1.20%	−0.03
ABBV Abbvie Inc.	Reduce -3.2%	0.39%	−0.02
STRW Strawberry Fields REIT Inc.	Reduce -5.3%	0.16%	−0.02

Portfolio Buys Q4 2025 → Q1 2026


USFR Wisdomtree Floating Rate Tre	Add +164.3%	3.47%	+2.18
EQIX Equinix Inc.	Add +0.7%	5.92%	+1.42
DLR Digital Realty Trust Inc.	Add +70.9%	2.44%	+1.24
SUI Sun Communities Inc.	Add +121.3%	1.64%	+0.93
O Realty Income Corp.	Add +55.2%	2.19%	+0.91
FR First Industrial Realty TR	Add +292.6%	0.63%	+0.47
XRN Chiron Real Estate Inc.	Add +90.6%	0.84%	+0.40
WY Weyerhaeuser Co.	Add +49.0%	0.98%	+0.36
WPC WP Carey Inc.	Add +64.4%	0.81%	+0.35
PLD Prologis Inc.	Add +5.2%	3.45%	+0.35
LAMR Lamar Advertising Co. Class A	New	0.32%	+0.32
VMRK Vivmark Residential	New	0.31%	+0.31
C Citigroup Inc.	New	0.30%	+0.30
ATEN A10 Networks Inc.	New	0.26%	+0.26
ADC Agree Realty Corp.	Add +14.0%	1.14%	+0.20
CTRE Caretrust REIT Inc.	Add +22.2%	0.92%	+0.19
IMAX Imax Corp.	New	0.18%	+0.18
HST Host Hotels & Resorts Inc.	Add +16.0%	0.84%	+0.18
NGS Natural Gas Services Group	New	0.17%	+0.17
AHR American Healthcare REIT Inc.	Add +23.8%	0.69%	+0.15
HII Huntington Ingalls Industrie	Add +20.1%	0.52%	+0.14
GHM Graham Corp.	Add +12.9%	0.47%	+0.14
HUN Huntsman Corp.	New	0.13%	+0.13
TGS Transportador Gas-ADR SP B	Add +114.4%	0.22%	+0.13
PUMP Propetro Holding Corp.	New	0.13%	+0.13
ASTE Astec Industries Inc.	Add +6.1%	0.49%	+0.13
VOXR Vox Royalty Corp.	New	0.12%	+0.12
Marex Group plc	Add +99.0%	0.21%	+0.12
ECO Okeanis Eco Tankers Corp.	New	0.12%	+0.12
HZO Marinemax Inc.	New	0.12%	+0.12
OHI Omega Healthcare Investors	Add +9.8%	1.17%	+0.11
INVA Innoviva Inc.	Add +4.5%	0.57%	+0.11
WM Waste Management Inc.	Add +72.5%	0.24%	+0.11
SBR Sabine Royalty Trust	Add +34.8%	0.31%	+0.11
NTSK Netskope Inc. Class A	New	0.10%	+0.10
BN Brookfield Asset Mgmt Inc.	Add +139.8%	0.19%	+0.10
VNQI Vanguard GLBL Ex-US Real Est	New	0.09%	+0.09
APEI American Public Education	New	0.07%	+0.07
CDNA Caredx Inc.	Add +122.1%	0.12%	+0.06
KGS Kodiak Gas Services Inc.	Add +5.7%	0.08%	+0.03
MATX Matson Inc.	Add +0.4%	0.12%	+0.03
MNTN MNTN Inc. Class A	Add +62.8%	0.15%	+0.03
SPOK Spok Holdings Inc.	Add +30.2%	0.24%	+0.02
AROC Archrock Inc.	Add +4.4%	0.07%	+0.02
OMCL Omnicell Inc.	Add +48.0%	0.15%	+0.02
CBOE Cboe Global Markets Inc.	Add +222.2%	0.01%	+0.01
KEYS Keysight Technologies Inc.	New	0.01%	+0.01
Q Qnity Electronics Inc.	New	0.01%	+0.01
VZ Verizon Communications Inc.	Add +841.1%	0.01%	+0.01
LMAT Lemaitre Vascular Inc.	New	0.01%	+0.01

Notes & Other Activity Q4 2025 → Q1 2026


BOEING CO/THE (BA 6 10/15/27)	DEP CONV PFD A	Reduce -3.9%	66,505	$4.3M
ALBEMARLE CORP (ALB 7.25 03/01/27)	7.25% DEP SHS A	Reduce -3.1%	54,468	$3.9M
AT&T INC (T 4.75 PERP C)	PFD	Reduce -3.6%	161,172	$3.0M
PG&E CORP (PCG 6 12/01/27 A)	PFD CONV SER A	Reduce -2.8%	61,168	$2.6M
EPR PROPERTIES (EPR 5.75 PERP C)	PFD C CV 5.75%	Reduce -4.3%	110,841	$2.5M
BANK OF AMERICA CORP (BAC 7.25 PERP L)	7.25%CNV PFD L	Reduce -5.8%	1,915	$2.3M
PUBLIC STORAGE (PSA 5.6 PERP H)	Common Stock	Reduce -2.6%	91,300	$2.0M
PITNEY BOWES INC (PBI 6.7 03/07/43)	Equities	Add +121.3%	96,287	$1.8M
TRITON INTERNATIONAL LTD (TRTN 8 PERP B)	PFD	Reduce -2.6%	70,015	$1.7M
APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26)	SER A MAND CNV	Sold out	22,652	$1.7Mbefore exit
ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B)	6.75 SE B PFD	Sold out	30,295	$1.5Mbefore exit
REDWOOD TRUST INC (RWT V10 PERP)	COM	Reduce -3.6%	54,783	$1.3M
ADAMAS TRUST INC (ADAM V7.875 PERP E)	PFD	Reduce -3.1%	53,679	$1.3M
MICROCHIP TECHNOLOGY INC (MCHP 7.5 03/15/28)	DEP SHS REPSTG	Reduce -4.2%	18,998	$1.1M
PEBBLEBROOK HOTEL TRUST (PEB 6.3 PERP F)	6.3 CUM PFD SR F	Reduce -2.1%	44,695	$863K
RLJ LODGING TRUST (RLJ 1.95 PERP A)	CUM CONV PFD A	Reduce -2.3%	32,025	$772K
QXO INC (QXO 5.5 05/15/28 B)	5.50 DEP PFD	New	13,573	$746K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026Amended	162	$1.0B	WELL, EQIX, PLD, SPG, DLR
Q1 2026	168	$943.6M	EQIX, WELL, AMT, SPG, USFR
Q4 2025Amended	170	$963.2M	WELL, EQIX, SPG, AMT, PLD
Q3 2025	162	$982.9M	WELL, EQIX, AMT, SPG, EGP
Q2 2025	159	$954.8M	AMT, EQIX, WELL, SPG, USFR
Q1 2025	161	$997.4M	EQIX, AMT, WELL, SPG, EGP
Q4 2024	115	$1.0B	EQIX, AMT, SPG, WELL, KRG
Q3 2024	108	$1.1B	AMT, EQIX, WELL, SPG, EGP
Q2 2024	107	$1.1B	AMT, EQIX, SPG, WELL, EGP
Q1 2024	112	$1.2B	EQIX, AMT, SPG, EGP, TRNO