In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 13, 2025), Vision Capital Corp reported 13 stock positions worth $262.1 million . Its top holding was Sun Communities (SUI) at 12.9% of the portfolio, followed by Piedmont Realty Trust (PDM, 12.3% ) and Equinix (EQIX, 11.9% ). Compared with Q3 2024, it opened 3 new positions, sold out of 8, added to 2 and reduced 4. The biggest buy was a new position in Equinix (EQIX) and the biggest sale Digital Realty Trust (DLR, shares −69% ).
Location TORONTO, A6
CIK 0001764403
Portfolio Value $262.1M (Q4 2024) Holdings 13 stocks · $262.1M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q3 2024 SUI Sun Communities Inc. filed as SUN CMNTYS INC 274,860 $33.8M No change PDM Piedmont Realty Trust Inc. 3,526,777 $32.3M Add +65.0% EQIX Equinix Inc. 33,075 $31.2M New VST Vistra Corp. 219,000 $30.2M No change ESRT Empire State Realty Trust-A 2,802,948 $28.9M No change COLD Americold Realty Trust Inc. 1,194,720 $25.6M Add +44.0% DLR Digital Realty Trust Inc. 118,969 $21.1M Reduce -68.7% TMHC Taylor Morrison Home Corp. 343,150 $21.0M Reduce -36.8% EGP Eastgroup Properties Inc. 98,000 $15.7M No change NMRK Newmark Group Inc. Class A 869,168 $11.1M Reduce -21.5% MHO M/I Homes Inc. 37,999 $5.1M Reduce -47.6% CBRE CBRE Group Inc. Class A 26,300 $3.5M New IVT Inventrust Properties Corp. 89,543 $2.7M New
Options reported separately and not counted above: ISHARES TR puts ($201.6M), STATE STR SPDR S&P 500 ETF T puts ($111.4M), SUN CMNTYS INC calls ($21.5M), INVITATION HOMES INC calls ($21.4M), HOST HOTELS & RESORTS INC calls ($883K).
Portfolio Sells Q3 2024 → Q4 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2024 % Of Portfolio Change To Portfolio ▲ DLR Digital Realty Trust Inc. Reduce -68.7% 8.05% −7.17 PHM Pultegroup Inc. Sold out 0.00% −5.54 VTR Ventas Inc. Sold out 0.00% −4.05 PLD Prologis Inc. Sold out 0.00% −3.81 MTH Meritage Homes Corp. Sold out 0.00% −3.44 FR First Industrial Realty TR Sold out 0.00% −3.16 BKD Brookdale Senior Living Inc. Sold out 0.00% −3.09 AHRT Ah Realty Trust Inc. Sold out 0.00% −2.95 LINE Lineage Inc. Sold out 0.00% −2.91 TMHC Taylor Morrison Home Corp. Reduce -36.8% 8.01% −1.44 MHO M/I Homes Inc. Reduce -47.6% 1.93% −1.15 NMRK Newmark Group Inc. Class A Reduce -21.5% 4.25% −0.01
Portfolio Buys Q3 2024 → Q4 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2024 % Of Portfolio Change To Portfolio ▼ EQIX Equinix Inc. New 11.90% +11.90 PDM Piedmont Realty Trust Inc. Add +65.0% 12.31% +6.96 COLD Americold Realty Trust Inc. Add +44.0% 9.75% +3.94 CBRE CBRE Group Inc. Class A New 1.32% +1.32 IVT Inventrust Properties Corp. New 1.03% +1.03
Options Activity Q3 2024 → Q4 2024 Security Type Change vs Q3 2024 Underlying Shares Value ▼ ISHARES TR put New 1,950,000 $201.6M STATE STR SPDR S&P 500 ETF T put Reduce -36.7% 190,000 $111.4M SUN CMNTYS INC call New 175,000 $21.5M CUSHMAN WAKEFIELD PLC call Sold out 1,500,000 $20.4Mbefore exit HOST HOTELS & RESORTS INC call New 50,400 $883K
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 13 $216.8M DLR, BKD, CUBE, FR, EQIX Q1 2026 9 $183.2M SUI, EQIX, FR, IVT, CUBE Q4 2025 10 $181.3M SUI, EQIX, IVT, CUBE, FR Q3 2025 8 $171.7M SUI, EQIX, IVT, COLD, EGP Q2 2025 12 $223.7M SUI, COLD, UDR, IVT, EQIX Q1 2025 13 $210.2M SUI, EQIX, COLD, PDM, CBRE Q4 2024 13 $262.1M SUI, PDM, EQIX, VST, ESRT Q3 2024 18 $403.6M DLR, TMHC, SUI, ESRT, VST Q2 2024 12 $308.2M DLR, SUI, PLD, COLD, FR Q1 2024 15 $332.6M SUI, VTR, PLD, JLL, FR