In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Vision Capital Corp reported 10 stock positions worth $181.3 million . Its top holding was Sun Communities (SUI) at 19.4% of the portfolio, followed by Equinix (EQIX, 19.1% ) and Inventrust Properties (IVT, 15.8% ). Compared with Q3 2025, it opened 4 new positions, sold out of 2, added to 5 and reduced 1. The biggest buy was a new position in Cubesmart (CUBE) and the biggest sale an exit from Americold Realty Trust (COLD).
Location TORONTO, A6
CIK 0001764403
Portfolio Value $181.3M (Q4 2025) Holdings 10 stocks · $181.3M 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 2025 SUI Sun Communities Inc. filed as SUN CMNTYS INC 283,334 $35.1M Add +0.5% EQIX Equinix Inc. 45,292 $34.7M Add +0.5% IVT Inventrust Properties Corp. 1,017,381 $28.7M Reduce -8.0% CUBE Cubesmart 546,656 $19.7M New FR First Industrial Realty TR 283,919 $16.3M New DLR Digital Realty Trust Inc. 94,434 $14.6M Add +0.5% KW Kennedy-Wilson Holdings Inc. 1,309,261 $12.7M New CBRE CBRE Group Inc. Class A 71,248 $11.5M Add +77.5% NMRK Newmark Group Inc. Class A 239,566 $4.2M Add +72.8% ADC Agree Realty Corp. 54,428 $3.9M New
Options reported separately and not counted above: EQUINIX INC puts ($34.6M), CBRE GROUP INC calls ($11.3M).
Portfolio Sells Q3 2025 → Q4 2025 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 2025 % Of Portfolio Change To Portfolio ▲ COLD Americold Realty Trust Inc. Sold out 0.00% −14.25 EGP Eastgroup Properties Inc. Sold out 0.00% −10.94 IVT Inventrust Properties Corp. Reduce -8.0% 15.83% −2.60
Portfolio Buys Q3 2025 → Q4 2025 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 2025 % Of Portfolio Change To Portfolio ▼ CUBE Cubesmart New 10.87% +10.87 FR First Industrial Realty TR New 8.97% +8.97 KW Kennedy-Wilson Holdings Inc. New 6.98% +6.98 CBRE CBRE Group Inc. Class A Add +77.5% 6.32% +2.64 ADC Agree Realty Corp. New 2.16% +2.16 NMRK Newmark Group Inc. Class A Add +72.8% 2.29% +0.79 DLR Digital Realty Trust Inc. Add +0.5% 8.06% −1.40 EQIX Equinix Inc. Add +0.5% 19.14% −1.42 SUI Sun Communities Inc. Add +0.5% 19.37% −1.81
Options Activity Q3 2025 → Q4 2025 Security Type Change vs Q3 2025 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Sold out 200,000 $133.2Mbefore exit EQUINIX INC put New 45,100 $34.6M OHI Omega Healthcare Investors call Sold out 500,000 $21.1Mbefore exit CBRE CBRE Group Inc. Class A call Sold out 102,000 $16.1Mbefore exit CBRE GROUP INC call New 70,000 $11.3M
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