Agree RealtyADC
13F holders, Q2 2025 (June 30)At the end of Q2 2025, 471 institutions reported holding Agree Realty Corp. (ADC) in their 13F filings, up 5 from Q1 2025. 57 opened new positions and 54 sold out. The largest holders were Vanguard Group Inc. ($1.1B), BlackRock, Inc. ($1.1B) and Cohen & Steers, Inc. ($905.2M). 9 famous investors held it, including Paul Tudor Jones (0.3% of Tudor Investment Corporation's portfolio), Israel Englander (0.1% of Millennium Management's portfolio) and Ken Griffin (0.0% of Citadel Advisors's portfolio).
- Company
- Agree Realty Corp.
- CUSIP
- 008492100
- Latest filing quarter
- Q2 2026
History
Number of 13F holders
Total Exit/New Position Q1 2025 → Q2 2025
| Institutions | Total Value | |
|---|---|---|
| New Positions | 57 | $156.9M |
| Exits | 54 | $181.2M |
All 13F filers, Q1 2025 → Q2 2025: 15,657,255 shares bought and 11,710,892 shares sold, net +3,946,363 shares. Counts holders who added, trimmed, opened or closed a position; split-adjusted.
Ownership 471 holders
| Vanguard Group Inc. | 0.02% | Add +2.7% | 15,316,681 | $1.1B |
| BlackRock, Inc. | 0.02% | Add +17.5% | 15,273,147 | $1.1B |
| Cohen & Steers, Inc. | 1.66% | Add +25.6% | 12,390,683 | $905.2M |
| State Street Corp. | 0.02% | Add +7.1% | 5,764,979 | $422.6M |
| Deutsche Bank AG | 0.08% | Add +17.3% | 2,964,865 | $216.6M |
| Centersquare Investment Management LLC | 2.16% | Add +17.0% | 2,844,960 | $207.9M |
| Geode Capital Management, LLC | 0.01% | Add +6.8% | 2,680,417 | $205.5M |
| Principal Financial Group Inc. | 0.10% | Reduce -6.2% | 2,503,260 | $182.9M |
| Daiwa Securities Group Inc. | 0.64% | Reduce -0.5% | 2,347,007 | $171.5M |
| Two Sigma Advisers, LP | 0.32% | Add +2.9% | 2,138,187 | $156.2M |
| Macquarie Group Ltd. | 0.17% | Reduce -1.3% | 1,908,304 | $139.4M |
| Two Sigma Investments, LP | 0.25% | Add +20.7% | 1,807,573 | $132.1M |
| Prudential Financial Inc. | 0.17% | Reduce -3.7% | 1,799,922 | $131.5M |
| Charles Schwab Investment Management Inc. | 0.02% | Add +5.0% | 1,780,620 | $130.1M |
| Nuveen, LLC | 0.03% | Add +85.7% | 1,692,526 | $123.7M |
| Northern Trust Corp. | 0.02% | Add +5.2% | 1,627,506 | $118.9M |
| Dimensional Fund Advisors LP | 0.03% | Add +2.1% | 1,614,272 | $117.9M |
| Morgan Stanley | 0.01% | Reduce -17.2% | 1,430,352 | $104.5M |
| Invesco Ltd. | 0.02% | Reduce -14.4% | 1,420,696 | $103.8M |
| Raymond James Financial Inc. | 0.03% | Reduce -9.4% | 1,321,655 | $96.6M |
| Janus Henderson Group PLC | 0.05% | Add +63.3% | 1,303,908 | $95.3M |
| Russell Investments Group, Ltd. | 0.12% | Reduce -0.7% | 1,266,857 | $92.6M |
| Balyasny Asset Management L.P. | 0.21% | Add +3.4% | 1,235,483 | $90.3M |
| JPMorgan Chase & Co. | 0.01% | Reduce -47.9% | 1,217,537 | $89.0M |
| Frontier Capital Management Co. LLC | 0.70% | Reduce -0.7% | 1,037,190 | $75.8M |
| Bank of New York Mellon Corp | 0.01% | Reduce -5.4% | 1,028,466 | $75.1M |
| GW&K Investment Management, LLC | 0.66% | Reduce -2.7% | 1,013,949 | $74.1M |
| PGGM Investments | 1.21% | No change | 956,246 | $69.9M |
| Bank of America Corp. | 0.01% | Add +26.4% | 951,096 | $69.5M |
| Alyeska Investment Group, L.P. | 0.24% | Reduce -20.0% | 936,393 | $68.4M |
| Millennium Management | 0.06% | Add +7.3% | 935,322 | $68.3M |
| Westwood Holdings Group Inc. | 0.48% | New | 894,825 | $65.4M |
| Norges Bank | 0.01% | Add +46.1% | 890,085 | $65.0M |
| American Century Companies Inc. | 0.03% | Reduce -51.2% | 854,616 | $62.4M |
| Cincinnati Insurance Co. | 0.97% | No change | 789,500 | $57.7M |
| Citadel Advisors | 0.05% | Add +143.3% | 735,146 | $53.7M |
| Voloridge Investment Management, LLC | 0.20% | Reduce -0.1% | 724,291 | $52.9M |
| Legal & General Group Plc | 0.01% | Add +8.1% | 718,802 | $52.5M |
| Sei Investments Co. | 0.05% | Add +9.4% | 641,225 | $46.8M |
| Citigroup Inc. | 0.03% | Reduce -12.4% | 616,211 | $45.0M |
| Bahl & Gaynor LLC | 0.22% | Add +8.6% | 596,408 | $43.6M |
| D. E. Shaw & Co. | 0.04% | Add +35.1% | 575,734 | $42.1M |
| Tudor Investment Corporation | 0.31% | Add +568.9% | 565,439 | $41.3M |
| Burkehill Global Management, LP | 2.97% | No change | 550,000 | $40.2M |
| Wellington Management Group LLP | 0.01% | Reduce -46.6% | 542,681 | $39.6M |
| Universal- Beteiligungs- und Servicegesellschaft mbH | 0.07% | Add +1.2% | 539,032 | $39.4M |
| APG Asset Management US Inc. | 0.24% | Add +20.8% | 435,343 | $31.7M |
| Allspring Global Investments Holdings, LLC | 0.05% | Reduce -45.6% | 429,222 | $31.3M |
| Adelante Capital Management LLC | 2.30% | Add +15.4% | 427,610 | $31.2M |
| California Public Employees Retirement System | 0.02% | Reduce -12.1% | 427,396 | $31.2M |
| Leeward Investments, LLC - MA | 1.66% | Reduce -6.2% | 426,070 | $31.1M |
| GRS Advisors, LLC | 2.71% | Reduce -47.9% | 386,448 | $28.2M |
| William Blair Investment Management, LLC | 0.07% | Reduce -44.1% | 376,499 | $27.5M |
| Sumitomo Mitsui Trust Group, Inc. | 0.02% | Add +4.4% | 365,553 | $26.7M |
| Heitman Real Estate Securities LLC | 1.88% | Reduce -27.5% | 362,824 | $26.5M |
| Wells Fargo & Company | 0.01% | Reduce -0.5% | 352,718 | $25.8M |
| Sophron Capital Management L.P. | 7.88% | Add +98.1% | 352,401 | $25.7M |
| Resolution Capital Ltd | 0.48% | Reduce -63.1% | 334,640 | $24.4M |
| Loomis Sayles & Co. L P | 0.03% | Add +2.6% | 331,336 | $24.2M |
| Systematic Financial Management LP | 0.64% | Add +1.1% | 327,724 | $23.9M |
| AQR Capital Management | 0.02% | Add +17.0% | 327,755 | $23.7M |
| Rhumbline Advisers | 0.02% | Add +0.8% | 324,028 | $23.7M |
| Thrivent Financial for Lutherans | 0.05% | Reduce -66.1% | 317,679 | $23.2M |
| Neuberger Berman Group LLC | 0.02% | Add +2304.3% | 300,394 | $21.9M |
| Hazelview Securities Inc. | 3.86% | Add +6.5% | 305,233 | $21.8M |
| State of New Jersey Common Pension Fund D | 0.08% | Reduce -0.1% | 298,060 | $21.8M |
| HRT Financial LP | 0.10% | Add +99.9% | 295,414 | $21.6M |
| Cubist Systematic Strategies, LLC | 0.23% | Add +1804.5% | 286,508 | $20.9M |
| UBS Group AG | 0.00% | Add +20.6% | 283,236 | $20.7M |
| Envestnet Asset Management Inc. | 0.01% | Reduce -3.7% | 282,899 | $20.7M |
| HSBC Holdings PLC | 0.01% | Add +244.5% | 285,122 | $20.7M |
| T. Rowe Price Associates Inc. | 0.00% | Reduce -39.1% | 266,007 | $19.4M |
| Public Employees Retirement System of Ohio | 0.06% | Add +0.7% | 259,974 | $19.0M |
| Schroder Investment Management Group | 0.02% | Add +7.6% | 252,559 | $18.5M |
| Ghisallo Capital Management LLC | 0.49% | New | 250,000 | $18.3M |
| Aristotle Capital Boston, LLC | 0.93% | Add +4.2% | 249,869 | $18.3M |
| Royal Bank of Canada | 0.00% | Reduce -5.9% | 249,595 | $18.2M |
| Alliancebernstein L.P. | 0.01% | Reduce -4.4% | 245,507 | $17.9M |
| Fort Washington Investment Advisors Inc. | 0.10% | Reduce -19.4% | 239,384 | $17.5M |
| CANADA LIFE ASSURANCE Co | 0.03% | Add +7.6% | 235,833 | $17.2M |
| Easterly Investment Partners LLC | 1.21% | New | 230,661 | $16.9M |
| Goldman Sachs Group Inc. | 0.00% | Add +54.6% | 214,234 | $15.7M |
| Jump Financial, LLC | 0.19% | Add +169.9% | 208,252 | $15.2M |
| Asset Management One Co., Ltd. | 0.05% | Reduce -3.3% | 207,659 | $15.2M |
| Qube Research & Technologies Ltd | 0.02% | New | 206,603 | $15.1M |
| Lasalle Investment Management Securities LLC | 0.62% | Reduce -1.1% | 205,936 | $15.0M |
| Swiss National Bank | 0.01% | Add +2.2% | 204,982 | $15.0M |
| Barclays PLC | 0.01% | Add +133.2% | 204,747 | $15.0M |
| Quantbot Technologies LP | 0.38% | Add +4.8% | 204,731 | $15.0M |
| Duff & Phelps Investment Management Co. | 0.18% | Add +3300.8% | 204,050 | $14.9M |
| Ceredex Value Advisors LLC | 0.30% | Add +15.8% | 191,550 | $14.0M |
| Verition Fund Management LLC | 0.08% | Add +16.9% | 187,116 | $13.7M |
| Ameriprise Financial Inc. | 0.00% | Add +21.6% | 186,382 | $13.6M |
| State of Wisconsin Investment Board | 0.03% | Reduce -7.2% | 184,527 | $13.5M |
| Lighthouse Investment Partners, LLC | 0.57% | Reduce -36.8% | 180,000 | $13.2M |
| Franklin Resources Inc. | 0.00% | Add +35.4% | 163,756 | $12.0M |
| Nomura Asset Management Co. Ltd. | 0.03% | Add +1.3% | 154,960 | $11.3M |
| VIRGINIA RETIREMENT SYSTEMS ET Al | 0.08% | Reduce -3.3% | 152,168 | $11.1M |
| Clearbridge Investments, LLC | 0.01% | New | 151,732 | $11.1M |
| Mitsubishi UFJ Trust & Banking Corp | 0.02% | Add +35.2% | 144,383 | $10.5M |
| Retirement Systems of Alabama | 0.04% | Add +3.0% | 134,208 | $9.8M |
| BNP Paribas Financial Markets | 0.01% | Add +171.1% | 130,905 | $9.6M |
| Uniplan Investment Counsel, Inc. | 0.98% | Reduce -1.9% | 128,325 | $9.4M |
| Natixis Advisors, LLC | 0.01% | Add +20.6% | 121,757 | $8.9M |
| Jane Street Group, LLC | 0.01% | Add +344.1% | 121,529 | $8.9M |
| ExodusPoint Capital Management, LP | 0.10% | Reduce -63.7% | 117,379 | $8.6M |
| Connor, Clark & Lunn Investment Management Ltd. | 0.03% | Add +880.2% | 115,904 | $8.5M |
| New York State Teachers Retirement System | 0.02% | Add +0.5% | 114,582 | $8.4M |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 0.00% | Reduce -84.6% | 113,083 | $8.3M |
| OVERSEA-CHINESE BANKING Corp Ltd | 0.23% | Reduce -1.7% | 110,766 | $8.1M |
| Victory Capital Management Inc. | 0.01% | Add +4.1% | 109,148 | $8.0M |
| Atom Investors LP | 0.70% | Add +1426.0% | 108,587 | $7.9M |
| STRS Ohio | 0.03% | Reduce -30.5% | 108,557 | $7.9M |
| Allianz Asset Management GmbH | 0.01% | Add +17.1% | 106,947 | $7.8M |
| California State Teachers Retirement System | 0.01% | Add +7.1% | 104,215 | $7.6M |
| Y-Intercept (Hong Kong) Ltd | 0.18% | Add +2854.6% | 100,604 | $7.4M |
| Brookfield Corp | 0.01% | Reduce -11.5% | 100,565 | $7.3M |
| Phocas Financial Corp. | 1.04% | Add +0.0% | 99,309 | $7.3M |
| Ibex Wealth Advisors | 0.77% | Add +6.0% | 99,201 | $7.2M |
| Squarepoint Ops LLC | 0.02% | Add +69.5% | 96,510 | $7.1M |
| Manufacturers Life Insurance Company, The | 0.01% | Reduce -2.9% | 90,413 | $6.6M |
| AXA S.A. | 0.02% | New | 88,680 | $6.5M |
| Creative Planning | 0.01% | Add +7.0% | 87,936 | $6.4M |
| Bank of Nova Scotia | 0.01% | Add +1863.1% | 85,652 | $6.3M |
| Zurcher Kantonalbank (Zurich Cantonalbank) | 0.02% | Add +3.7% | 85,404 | $6.2M |
| LMCG Investments, LLC | 0.39% | Add +18.9% | 84,393 | $6.2M |
| Gotham Asset Management | 0.04% | Add +257.3% | 83,407 | $6.1M |
| Susquehanna Fundamental Investments, LLC | 0.16% | Reduce -18.0% | 81,780 | $6.0M |
| New Age Alpha Advisors, LLC | 0.26% | Reduce -19.8% | 81,690 | $6.0M |
| Impax Asset Management Group plc | 0.03% | Reduce -20.0% | 80,000 | $5.8M |
| Mitsubishi UFJ Asset Management Co., Ltd. | 0.00% | Add +7.6% | 79,427 | $5.8M |
| Aptus Capital Advisors, LLC | 0.06% | Add +9.7% | 79,154 | $5.8M |
| Boothbay Fund Management, LLC | 0.18% | Reduce -46.5% | 76,837 | $5.6M |
| First Trust Advisors LP | 0.00% | Add +46.8% | 74,203 | $5.4M |
| New York State Common Retirement Fund | 0.01% | Reduce -37.5% | 67,716 | $4.9M |
| State of Alaska, Department of Revenue | 0.05% | Add +4.9% | 65,357 | $4.8M |
| Great Lakes Advisors, LLC | 0.04% | Add +11.5% | 65,146 | $4.8M |
| Baron Capital (BAMCO) | 0.01% | Reduce -40.2% | 64,628 | $4.7M |
| Exchange Traded Concepts, LLC | 0.06% | Add +22.3% | 63,929 | $4.7M |
| DekaBank Deutsche Girozentrale | 0.01% | Add +6.6% | 63,542 | $4.6M |
| Commonwealth of Pennsylvania Public School Empls Retrmt SYS | 0.02% | Add +7.8% | 63,284 | $4.6M |
| Mutual of America Capital Management LLC | 0.04% | Reduce -0.9% | 54,608 | $4.0M |
| Amundi | 0.00% | Reduce -10.6% | 52,807 | $3.8M |
| Treasurer of the State of North Carolina | 0.01% | Add +8.5% | 50,569 | $3.7M |
| Amalgamated Bank | 0.03% | Add +2.7% | 50,066 | $3.7M |
| Truist Financial Corp. | 0.01% | Reduce -1.4% | 49,941 | $3.6M |
| Van Eck Associates Corp. | 0.00% | Add +6.4% | 48,943 | $3.6M |
| Fisher Asset Management | 0.00% | Reduce -53.8% | 48,069 | $3.5M |
| State of Tennessee, Department of Treasury | 0.01% | No change | 47,515 | $3.5M |
| Community Trust & Investment Co. | 0.20% | Reduce -1.5% | 46,503 | $3.4M |
| CoreCap Advisors, LLC | 0.14% | Add +9.6% | 45,858 | $3.4M |
| LPL Financial LLC | 0.00% | Add +2.4% | 45,294 | $3.3M |
| SummitTX Capital, L.P. | 0.14% | Add +192.8% | 44,845 | $3.3M |
| Resona Asset Management Co.,Ltd. | 0.02% | Reduce -5.7% | 44,032 | $3.2M |
| Twin Tree Management, LP | 0.08% | Reduce -50.7% | 42,513 | $3.1M |
| Deprince Race & Zollo Inc. | 0.06% | Reduce -92.2% | 41,627 | $3.0M |
| Police & Firemen's Retirement System of New Jersey | 0.03% | Add +7.3% | 40,862 | $3.0M |
| Pathstone Holdings, LLC | 0.01% | Add +28.6% | 40,632 | $3.0M |
| Brevan Howard Capital Management LP | 0.03% | Add +47.6% | 40,451 | $3.0M |
| Yousif Capital Management, LLC | 0.03% | Add +0.9% | 40,406 | $3.0M |
| Agf Management Ltd. | 0.01% | Add +8.5% | 39,948 | $2.9M |
| GSI Capital Advisors LLC | 1.54% | Add +0.3% | 39,483 | $2.9M |
| Cerity Partners LLC | 0.01% | Reduce -1.4% | 38,567 | $2.8M |
| Employees Retirement System of Texas | 0.03% | Add +1.0% | 38,368 | $2.8M |
| Blue Chip Partners, LLC | 0.23% | Reduce -0.1% | 38,024 | $2.8M |
| M&T Bank Corp | 0.01% | Add +12.3% | 37,556 | $2.7M |
| Community Bank of Raymore | 1.99% | Reduce -7.1% | 36,715 | $2.7M |
| Presima Securities ULC | 0.62% | Add +1.9% | 36,652 | $2.7M |
| Stifel Financial Corp. | 0.00% | Add +2.5% | 36,362 | $2.7M |
| State Board of Administration of Florida Retirement System | 0.00% | Reduce -1.6% | 36,009 | $2.6M |
| Engineers Gate Manager LP | 0.03% | Add +513.4% | 35,593 | $2.6M |
| Gsa Capital Partners LLP | 0.17% | Add +219.5% | 33,644 | $2.5M |
| Teachers Retirement System of the State of Kentucky | 0.02% | Add +23.6% | 33,531 | $2.5M |
| First National Bank of Omaha | 0.15% | Reduce -9.8% | 32,516 | $2.4M |
| Aberdeen Group plc | 0.00% | Add +19.4% | 32,510 | $2.4M |
| Cetera Investment Advisers | 0.00% | Add +4.4% | 32,022 | $2.3M |
| Lazard Asset Management LLC | 0.00% | Reduce -6.4% | 31,879 | $2.3M |
| Ensign Peak Advisors, Inc | 0.00% | No change | 31,788 | $2.3M |
| Bridgefront Capital, LLC | 0.61% | Add +42.9% | 31,467 | $2.3M |
| Arizona State Retirement System | 0.01% | Add +5.5% | 31,330 | $2.3M |
| Louisiana State Employees Retirement System | 0.04% | Add +3.0% | 30,900 | $2.3M |
| UniSuper Management Pty Ltd | 0.02% | Add +6.9% | 30,800 | $2.3M |
| FJ Capital Management LLC | 0.23% | Add +161.5% | 30,114 | $2.2M |
| Schonfeld Strategic Advisors LLC | 0.02% | Reduce -80.7% | 29,662 | $2.2M |
| Cibc World Markets Corp. | 0.01% | Reduce -2.2% | 29,234 | $2.1M |
| E. Ohman J:or Asset Management AB | 0.05% | No change | 27,883 | $2.0M |
| KLP Kapitalforvaltning As | 0.01% | Add +4.1% | 27,700 | $2.0M |
| Ilex Capital Partners (UK) LLP | 0.07% | Reduce -42.2% | 27,642 | $2.0M |
| Handelsbanken Fonder AB | 0.01% | No change | 27,537 | $2.0M |
| State of Michigan Retirement System | 0.01% | Add +3.1% | 26,400 | $1.9M |
| Orion Porfolio Solutions, LLC | 0.02% | Add +0.8% | 26,280 | $1.9M |
| HGI Capital Management, LLC | 2.59% | New | 26,176 | $1.9M |
| Susquehanna Portfolio Strategies, LLC | 0.04% | New | 26,085 | $1.9M |
| Oppenheimer Asset Management Inc. | 0.02% | Add +23.5% | 26,027 | $1.9M |
| Harvest Portfolios Group Inc. | 0.04% | Add +17.4% | 25,823 | $1.9M |
| Arrowstreet Capital, Limited Partnership | 0.00% | New | 25,661 | $1.9M |
| Bank of Montreal | 0.00% | Add +51.6% | 25,406 | $1.9M |
| Nisa Investment Advisors, LLC | 0.01% | Reduce -16.3% | 24,978 | $1.8M |
| Vanderbilt University | 0.35% | Add +11.5% | 25,074 | $1.8M |
| Point72 Asset Management | 0.00% | Add +303.6% | 24,655 | $1.8M |
| Northwestern Mutual Investment Management Company, LLC | 0.03% | Add +3.0% | 24,517 | $1.8M |
| Dana Investment Advisors, Inc. | 0.06% | Add +0.1% | 24,155 | $1.8M |
| Teacher Retirement System of Texas | 0.01% | Reduce -1.3% | 24,096 | $1.8M |
| Sumitomo Mitsui DS Asset Management Company, Ltd | 0.02% | Add +7.3% | 23,326 | $1.7M |
| Oregon Public Employees Retirement Fund | 0.03% | Add +3.2% | 22,454 | $1.6M |
| Redmond Asset Management, LLC | 0.39% | Reduce -0.1% | 22,444 | $1.6M |
| Assetmark, Inc. | 0.00% | Add +41.0% | 22,283 | $1.6M |
| Vestcor Inc | 0.05% | New | 21,845 | $1.6M |
| Ameritas Investment Partners, Inc. | 0.05% | Add +1.2% | 21,320 | $1.6M |
| HighTower Advisors, LLC | 0.00% | Reduce -4.7% | 21,205 | $1.5M |
| FMR LLC | 0.00% | Reduce -95.7% | 21,171 | $1.5M |
| New Mexico Educational Retirement Board | 0.05% | No change | 20,700 | $1.5M |
| Motley Fool Wealth Management, LLC | 0.09% | Reduce -12.3% | 20,326 | $1.5M |
| Nicola Wealth Management LTD. | 0.14% | Add +6.6% | 20,296 | $1.5M |
| Citizens National Bank Trust Department | 0.28% | Add +10.9% | 19,416 | $1.4M |
| Capital Fund Management S.A. | 0.02% | New | 19,355 | $1.4M |
| Mariner, LLC | 0.00% | Add +15.3% | 19,340 | $1.4M |
| Moran Wealth Management, LLC | 0.04% | Reduce -1.3% | 19,050 | $1.4M |
| Worldquant Millennium Advisors LLC | 0.01% | New | 18,864 | $1.4M |
| Quantinno Capital Management LP | 0.01% | Add +26.7% | 18,551 | $1.4M |
| Town & Country Bank & Trust CO dba First Bankers Trust CO | 0.50% | Add +4.9% | 18,389 | $1.3M |
| Metis Global Partners, LLC | 0.03% | Add +34.1% | 18,183 | $1.3M |
| Sequoia Financial Advisors, LLC | 0.01% | Add +280.2% | 17,981 | $1.3M |
| Tributary Capital Management, LLC | 0.12% | Reduce -89.7% | 17,855 | $1.3M |
| Vanguard Personalized Indexing Management, LLC | 0.01% | Add +10.2% | 17,812 | $1.3M |
| Pathway Financial Advisers, LLC | 0.42% | Add +3.8% | 17,784 | $1.3M |
| IFM Investors Pty Ltd | 0.01% | Reduce -14.7% | 17,540 | $1.3M |
| Parr McKnight Wealth Management Group, LLC | 0.17% | Add +1.6% | 17,150 | $1.3M |
| Oak Thistle LLC | 0.18% | Add +73.0% | 17,106 | $1.2M |
| Foresight Group Ltd Liability Partnership | 0.17% | No change | 16,865 | $1.2M |
| Cincinnati Specialty Underwriters Insurance CO | 0.32% | No change | 16,500 | $1.2M |
| Quadrant Capital Group LLC | 0.04% | Add +0.8% | 16,211 | $1.2M |
| Nissay Asset Management Corp. /Japan | 0.01% | Add +6.6% | 16,197 | $1.2M |
| Cambridge Investment Research Advisors, Inc. | 0.00% | Add +8.0% | 15,816 | $1.2M |
| Pictet Asset Management Holding SA | 0.00% | Reduce -31.3% | 15,696 | $1.1M |
| Graham Capital Management, L.P. | 0.03% | Add +134.4% | 15,543 | $1.1M |
| Federated Hermes, Inc. | 0.00% | Add +13.3% | 15,196 | $1.1M |
| Keybank National Association | 0.00% | Reduce -19.1% | 14,448 | $1.1M |
| PNC Financial Services Group, Inc. | 0.00% | Reduce -1.0% | 14,085 | $1.0M |
| Lecap Asset Management Ltd. | 0.36% | New | 13,955 | $1.0M |
| Wealth Enhancement Advisory Services, LLC | 0.00% | Add +16.4% | 13,517 | $973K |
| Elo Mutual Pension Insurance Co | 0.02% | New | 13,286 | $971K |
| Atria Investments, Inc | 0.01% | Add +2.5% | 12,733 | $930K |
| Pitcairn Co. | 0.06% | Reduce -18.5% | 12,365 | $903K |
| Intrust Bank NA | 0.08% | Add +22.5% | 12,326 | $901K |
| Xponance LLC | 0.01% | Add +1.6% | 12,284 | $897K |
| Voya Investment Management LLC | 0.00% | Reduce -4.9% | 12,094 | $884K |
| US Bancorp \de | 0.00% | Reduce -19.4% | 11,998 | $877K |
| &partners | 0.01% | Reduce -7.1% | 11,898 | $869K |
| Friedenthal Financial | 0.48% | Add +2.4% | 11,894 | $869K |
| Gilman Hill Asset Management, LLC | 0.14% | Reduce -4.0% | 11,755 | $859K |
| Applied Capital LLC | 0.61% | Reduce -0.1% | 11,147 | $814K |
| Silvercrest Asset Management Group LLC | 0.01% | Reduce -5.7% | 11,108 | $812K |
| Scientech Research LLC | 0.20% | New | 10,928 | $798K |
| WESPAC Advisors, LLC | 0.56% | New | 10,886 | $795K |
| James Investment Research, Inc. | 0.09% | No change | 10,822 | $791K |
| Signaturefd, LLC | 0.01% | Add +7.5% | 10,714 | $783K |
| Ethic Inc. | 0.01% | Add +18.3% | 10,473 | $758K |
| Center for Financial Planning, Inc. | 0.09% | No change | 10,237 | $748K |
| Choreo, LLC | 0.01% | Reduce -0.0% | 9,635 | $706K |
| Invst, LLC | 0.09% | Reduce -3.7% | 9,543 | $697K |
| Capital Square, LLC | 0.37% | Reduce -30.8% | 9,715 | $696K |
| Ontario Teachers Pension Plan Board | 0.01% | New | 9,267 | $677K |
| Texas Yale Capital Corp. | 0.02% | No change | 9,195 | $672K |
| Commonwealth Equity Services, LLC | 0.00% | Add +25.5% | 9,114 | $666K |
| Schnieders Capital Management LLC | 0.12% | Reduce -4.7% | 9,051 | $661K |
| Janney Montgomery Scott LLC | 0.00% | Reduce -25.1% | 8,978 | $656K |
| Advisors Asset Management, Inc. | 0.01% | Add +3.6% | 8,830 | $645K |
| Allstate Corp. | 0.05% | Reduce -74.1% | 8,756 | $640K |
| 1620 Investment Advisors, Inc. | 0.46% | Add +2.1% | 8,739 | $639K |
| MQS Management LLC | 0.35% | New | 8,587 | $627K |
| Farringdon Capital, Ltd. | 0.21% | New | 8,384 | $613K |
| Securian Asset Management, Inc. | 0.02% | Add +2.9% | 8,362 | $611K |
| Sterling Capital Management LLC | 0.01% | Add +30.2% | 8,259 | $603K |
| Spirit of America Management Corp. | 0.12% | No change | 8,100 | $592K |
| CSU Producer Resources, Inc. | 1.83% | No change | 8,000 | $584K |
| Crossmark Global Holdings, Inc. | 0.01% | Add +1.7% | 7,979 | $583K |
| Captrust Financial Advisors | 0.00% | Reduce -8.8% | 7,969 | $582K |
| First National Advisers, LLC | 0.09% | Add +6.3% | 7,967 | $582K |
| Public Employees Retirement Association of Colorado | 0.00% | No change | 7,909 | $578K |
| Avantax Advisory Services, Inc. | 0.00% | Add +13.3% | 7,862 | $574K |
| Virtus Advisers, LLC | 0.36% | No change | 7,815 | $571K |
| Journey Strategic Wealth LLC | 0.02% | Add +16.5% | 7,677 | $561K |
| Ethos Financial Group, LLC | 0.05% | Add +16.6% | 7,639 | $558K |
| Virtu Financial LLC | 0.03% | Add +22.7% | 7,603 | $555K |
| Prelude Capital Management, LLC | 0.05% | New | 7,570 | $553K |
| Mercer Global Advisors Inc. | 0.00% | Add +70.8% | 7,510 | $548K |
| Garden State Investment Advisory Services LLC | 0.14% | No change | 7,329 | $535K |
| Vident Advisory, LLC | 0.01% | Reduce -2.6% | 7,280 | $532K |
| MML Investors Services, LLC | 0.00% | Reduce -9.2% | 7,225 | $528K |
| Ascentis Independent Advisors | 0.10% | Add +4.8% | 7,022 | $513K |
| Cambria Investment Management, L.P. | 0.03% | Add +19.5% | 6,964 | $509K |
| Concurrent Investment Advisors, LLC | 0.01% | Add +0.1% | 6,784 | $496K |
| Landscape Capital Management, L.L.C. | 0.04% | Reduce -65.8% | 6,760 | $494K |
| Park Avenue Securities LLC | 0.00% | Reduce -2.4% | 6,723 | $491K |
| Koshinski Asset Management, Inc. | 0.04% | No change | 6,652 | $486K |
| Tidal Investments LLC | 0.00% | New | 6,583 | $481K |
| DoubleLine ETF Adviser LP | 0.15% | Add +8.2% | 6,471 | $473K |
| Caxton Associates LLP | 0.01% | Reduce -32.8% | 6,459 | $472K |
| Centiva Capital, LP | 0.03% | New | 6,424 | $469K |
| Federation des caisses Desjardins du Quebec | 0.00% | New | 6,355 | $464K |
| Commerce Bank | 0.00% | No change | 6,279 | $459K |
| Osaic Holdings, Inc. | 0.00% | Reduce -6.3% | 6,173 | $451K |
| Atlantic Union Bankshares Corp | 0.01% | No change | 6,040 | $441K |
| Fifth Third Bancorp | 0.00% | Add +33.5% | 6,030 | $441K |
| Corient Private Wealth LP | 0.00% | Reduce -0.2% | 5,999 | $438K |
| Trust Co. of Toledo NA | 0.05% | No change | 5,863 | $428K |
| Fairtree Asset Management (Pty) Ltd | 0.32% | New | 5,836 | $426K |
| SG Americas Securities, LLC | 0.00% | Reduce -55.3% | 5,764 | $421K |
| Illinois Municipal Retirement Fund | 0.01% | Reduce -65.8% | 5,722 | $418K |
| Utah Retirement Systems | 0.00% | Add +4.8% | 5,722 | $418K |
| PharVision Advisers, LLC | 0.59% | New | 5,654 | $413K |
| Spire Wealth Management | 0.01% | Reduce -5.1% | 5,540 | $405K |
| Fiduciary Trust Co | 0.00% | Add +0.6% | 5,490 | $401K |
| O'shaughnessy Asset Management, LLC | 0.00% | Add +22.4% | 5,364 | $392K |
| Total Wealth Planning & Management, Inc. | 0.33% | Reduce -3.8% | 5,255 | $384K |
| Norinchukin Bank, The | 0.01% | Add +6.0% | 5,233 | $382K |
| Vestmark Advisory Solutions, Inc. | 0.01% | Reduce -15.9% | 5,213 | $381K |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 0.00% | New | 5,190 | $379K |
| Point72 (DIFC) Ltd | 0.03% | New | 5,173 | $378K |
| Integrated Investment Consultants, LLC | 0.07% | Reduce -2.5% | 5,167 | $378K |
| NEOS Investment Management LLC | 0.00% | New | 5,099 | $373K |
| Sage Investment Counsel LLC | 0.43% | Add +7.4% | 5,028 | $367K |
| Maryland State Retirement & Pension System | 0.01% | No change | 4,994 | $365K |
| Greenleaf Trust | 0.00% | Add +2.2% | 4,943 | $361K |
| Cwm, LLC | 0.00% | Add +42.2% | 4,912 | $359K |
| GeoWealth Management, LLC | 0.01% | Add +84.6% | 4,886 | $357K |
| ProShare Advisors LLC | 0.00% | Add +6.8% | 4,868 | $356K |
| EP Wealth Advisors, LLC | 0.00% | Add +18.7% | 4,758 | $348K |
| J.W. Cole Advisors, Inc. | 0.01% | Add +1.3% | 4,676 | $342K |
| Group One Trading LLC | 0.01% | New | 4,673 | $341K |
| Envestnet Portfolio Solutions, Inc. | 0.00% | Reduce -27.2% | 4,662 | $341K |
| Frank, Rimerman Advisors LLC | 0.02% | New | 4,653 | $340K |
| Baird Financial Group, Inc. | 0.00% | Reduce -0.6% | 4,588 | $335K |
| XTX Topco Ltd | 0.01% | Reduce -55.2% | 4,558 | $333K |
| AE Wealth Management LLC | 0.00% | Reduce -3.0% | 4,497 | $329K |
| Evergreen Capital Management LLC | 0.01% | Reduce -0.3% | 4,426 | $323K |
| GC Wealth Management RIA, LLC | 0.03% | New | 4,410 | $322K |
| Coldstream Capital Management Inc. | 0.01% | Reduce -9.6% | 4,385 | $320K |
| Cornercap Investment Counsel Inc. | 0.17% | Reduce -2.2% | 4,381 | $320K |
| NJ State Employees Deferred Compensation Plan | 0.03% | No change | 4,000 | $292K |
| Bailard, Inc. | 0.01% | No change | 3,890 | $284K |
| Creative Financial Designs Inc. | 0.02% | Add +0.6% | 3,865 | $282K |
| Wealthspire Advisors, LLC | 0.00% | Reduce -7.7% | 3,862 | $282K |
| Summit Trail Advisors, LLC | 0.00% | New | 3,789 | $278K |
| Compound Planning, Inc. | 0.01% | Add +2.7% | 3,804 | $278K |
| Shelton Capital Management | 0.01% | No change | 3,709 | $271K |
| Machina Capital S.A.S. | 0.05% | New | 3,611 | $264K |
| NewEdge Wealth, LLC | 0.00% | Add +6.6% | 3,476 | $257K |
| Tower Research Capital LLC (TRC) | 0.01% | Reduce -62.6% | 3,414 | $249K |
| Carmel Capital Partners, LLC | 0.09% | Reduce -50.0% | 3,411 | $249K |
| OneDigital Investment Advisors LLC | 0.00% | Reduce -1.2% | 3,399 | $248K |
| Corton Capital Inc. | 0.29% | New | 3,359 | $245K |
| Regions Financial Corp. | 0.00% | Reduce -7.2% | 3,347 | $245K |
| Quarry LP | 0.06% | Add +196.4% | 3,341 | $244K |
| Zimmer Partners, LP | 0.01% | New | 3,333 | $244K |
| Clarkston Capital Partners, LLC | 0.01% | No change | 3,300 | $241K |
| Wealth Quarterback LLC | 0.11% | New | 3,298 | $241K |
| QRG Capital Management, Inc. | 0.00% | Add +4.3% | 3,221 | $235K |
| United Capital Financial Advisors, LLC | 0.00% | New | 3,193 | $233K |
| Fifth Third Wealth Advisors LLC | 0.01% | Reduce -0.8% | 3,174 | $232K |
| CIBC Asset Management Inc | 0.00% | No change | 3,174 | $232K |
| Harvest Fund Management Co., Ltd | 0.01% | Reduce -48.5% | 3,147 | $230K |
| GAMMA Investing LLC | 0.01% | Add +14.9% | 3,112 | $227K |
| Versor Investments LP | 0.04% | New | 3,025 | $221K |
| GW Henssler & Associates Ltd. | 0.01% | New | 3,002 | $219K |
| Longboard Asset Management, LP | 0.54% | No change | 2,990 | $218K |
| HighPoint Advisor Group LLC | 0.01% | Add +0.8% | 2,988 | $218K |
| 1492 Capital Management LLC | 0.10% | No change | 2,973 | $217K |
| Arax Advisory Partners | 0.01% | Reduce -3.2% | 212 | $209K |
| Allie Family Office LLC | 0.10% | No change | 2,814 | $206K |
| Inceptionr LLC | 0.05% | New | 2,809 | $205K |
| Anb Bank | 0.09% | New | 2,799 | $204K |
| Swiss Life Asset Management Ltd | 0.00% | New | 2,765 | $202K |
| M&G PLC | 0.00% | New | 2,711 | $198K |
| KBC Group NV | 0.00% | Reduce -41.7% | 2,527 | $185K |
| Mirae Asset Global Investments Co., Ltd. | 0.00% | Reduce -20.5% | 2,224 | $162K |
| Central Pacific Bank - Trust Division | 0.02% | Reduce -20.8% | 2,204 | $161K |
| Brooklyn Investment Group | 0.02% | Add +1631.8% | 2,182 | $159K |
| FIL Ltd | 0.00% | New | 2,031 | $148K |
| UMB Bank, n.a. | 0.00% | Add +16.0% | 2,024 | $148K |
| Hantz Financial Services, Inc. | 0.00% | Add +580.1% | 1,986 | $145K |
| Covestor Ltd | 0.08% | Reduce -25.8% | 1,966 | $144K |
| GF Fund Management Co. LTD. | 0.00% | Reduce -3.4% | 1,894 | $138K |
| Parallel Advisors, LLC | 0.00% | Add +7.5% | 1,891 | $138K |
| Kestra Investment Management, LLC | 0.00% | Reduce -0.8% | 1,881 | $137K |
| Blue Trust, Inc. | 0.00% | Add +44.4% | 1,770 | $129K |
| Larson Financial Group LLC | 0.01% | Add +209.5% | 1,690 | $123K |
| Private Trust Co. NA | 0.01% | Reduce -5.3% | 1,621 | $118K |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | 0.00% | Reduce -96.9% | 1,597 | $117K |
| Bayforest Capital Ltd | 0.05% | Reduce -56.6% | 1,515 | $111K |
| EverSource Wealth Advisors, LLC | 0.00% | Add +245.6% | 1,358 | $99K |
| Caitong International Asset Management Co., Ltd | 0.07% | Add +229.1% | 1,356 | $99K |
| Carderock Capital Management Inc. | 0.02% | New | 1,300 | $95K |
| CI Investments Inc. | 0.00% | Reduce -16.4% | 1,191 | $87K |
| Jones Financial Companies LLLP | 0.00% | Add +43.1% | 1,169 | $85K |
| Smartleaf Asset Management LLC | 0.01% | Reduce -18.8% | 1,155 | $84K |
| Brown Brothers Harriman & Co. | 0.00% | No change | 1,139 | $83K |
| Principal Securities, Inc. | 0.00% | Reduce -1.9% | 1,120 | $82K |
| Steward Partners Investment Advisory, LLC | 0.00% | Reduce -10.3% | 1,105 | $81K |
| Wilmington Savings Fund Society, FSB | 0.00% | No change | 1,060 | $77K |
| MassMutual Private Wealth & Trust, FSB | 0.00% | Add +10.5% | 1,011 | $74K |
| IFP Advisors, Inc | 0.00% | New | 940 | $69K |
| MAI Capital Management | 0.00% | Add +122.3% | 907 | $66K |
| Danske Bank A/S | 0.00% | New | 900 | $66K |
| Allworth Financial LP | 0.00% | Add +41.6% | 891 | $65K |
| Sound Income Strategies, LLC | 0.00% | Reduce -6.5% | 738 | $54K |
| Bessemer Group Inc. | 0.00% | Add +1.6% | 680 | $50K |
| Gables Capital Management Inc. | 0.02% | No change | 600 | $44K |
| Global Retirement Partners, LLC | 0.00% | — | 592 | $43K |
| Huntington National Bank | 0.00% | Add +0.5% | 590 | $43K |
| Northwestern Mutual Wealth Management Co. | 0.00% | Add +158.9% | 580 | $42K |
| Versant Capital Management, Inc | 0.01% | Reduce -1.1% | 525 | $38K |
| Smithfield Trust Co | 0.00% | No change | 510 | $37K |
| Atticus Wealth Management, LLC | 0.01% | No change | 500 | $37K |
| North Star Investment Management Corp. | 0.00% | No change | 500 | $37K |
| MCF Advisors LLC | 0.00% | Add +0.6% | 485 | $35K |
| National Bank of Canada | 0.00% | New | 472 | $34K |
| Lanark Financial, Inc. | 0.00% | Reduce -16.6% | 432 | $31K |
| Bernard Wealth Management Corp. | 0.01% | Reduce -5.2% | 423 | $31K |
| Aew Capital Management L P | 0.00% | No change | 400 | $29K |
| Farther Finance Advisors, LLC | 0.00% | Add +408.0% | 381 | $28K |
| Capital Analysts, LLC | 0.00% | Add +0.6% | 323 | $24K |
| Elevation Point Wealth Partners, LLC | 0.00% | New | 328 | $24K |
| Whittier Trust Co. | 0.00% | Add +40.1% | 318 | $23K |
| Clearstead Advisors, LLC | 0.00% | Add +83.1% | 304 | $22K |
| Whittier Trust Co. of Nevada Inc. | 0.00% | Add +207.8% | 277 | $20K |
| Glenmede Investment Management, LP | 0.00% | — | 262 | $19K |
| Clearstead Trust, LLC | 0.00% | Add +272.7% | 246 | $18K |
| Parkside Financial Bank & Trust | 0.00% | Add +5.2% | 224 | $16K |
| Essential Partners LLC | 0.01% | — | 219 | $16K |
| Westside Investment Management, Inc. | 0.00% | New | 215 | $16K |
| Smallwood Wealth Investment Management, LLC | 0.01% | No change | 200 | $15K |
| Stephens Consulting, LLC | 0.00% | No change | 200 | $15K |
| Capital Advisors, Ltd. LLC | 0.00% | Reduce -57.9% | 196 | $14K |
| Rise Advisors, LLC | 0.01% | Add +1.2% | 173 | $13K |
| Kentucky Trust Co | 0.01% | No change | 172 | $13K |
| Optimum Investment Advisors | 0.00% | No change | 150 | $11K |
| Caldwell Trust Co | 0.00% | No change | 150 | $11K |
| Geneos Wealth Management Inc. | 0.00% | Add +13.4% | 144 | $11K |
| Fortitude Family Office, LLC | 0.00% | New | 138 | $10K |
| Rosenberg Matthew Hamilton | 0.00% | No change | 123 | $9K |
| Physician Wealth Advisors, Inc. | 0.00% | Add +4.6% | 114 | $8K |
| Itau Unibanco Holding S.A. | 0.00% | New | 114 | $8K |
| Plante Moran Financial Advisors, LLC | 0.00% | No change | 100 | $7K |
| Annis Gardner Whiting Capital Advisors, LLC | 0.00% | New | 93 | $7K |
| Farmers & Merchants Investments Inc. | 0.00% | Add +19.2% | 87 | $6K |
| Twin Peaks Wealth Advisors, LLC | 0.00% | New | 73 | $5K |
| NewEdge Advisors, LLC | 0.00% | Reduce -97.6% | 69 | $5K |
| Harbour Investments, Inc. | 0.00% | No change | 67 | $5K |
| High Note Wealth, LLC | 0.00% | Add +3.3% | 63 | $5K |
| Bell Investment Advisors, Inc | 0.00% | No change | 58 | $4K |
| Roble, Belko & Company, Inc | 0.00% | Add +2.1% | 48 | $3K |
| WPG Advisers, LLC | 0.00% | No change | 37 | $3K |
| First Horizon Advisors, Inc. | 0.00% | Add +1133.3% | 37 | $3K |
| Cornerstone Planning Group LLC | 0.00% | Reduce -53.9% | 30 | $2K |
| Strategic Wealth Partners, Ltd. | 0.00% | — | 26 | $2K |
| Sachetta, LLC | 0.00% | No change | 22 | $2K |
| Private Wealth Management Group, LLC | 0.00% | No change | 22 | $2K |
| Rialto Wealth Management, LLC | 0.00% | Add +53.9% | 20 | $1K |
| Cromwell Holdings LLC | 0.00% | New | 18 | $1K |
| Bare Financial Services, Inc | 0.00% | New | 17 | $1K |
| Provenance Wealth Advisors, LLC | 0.00% | No change | 15 | $1K |
| True Wealth Design, LLC | 0.00% | Reduce -17.6% | 14 | $1K |
| Highline Wealth Partners LLC | 0.00% | No change | 14 | $1K |
| Avion Wealth | 0.00% | Add +38.9% | 25 | $1K |
| Mountain Hill Investment Partners Corp. | 0.00% | Add +10.0% | 11 | $768 |
| NewSquare Capital LLC | 0.00% | Reduce -63.0% | 10 | $731 |
| Bruce G. Allen Investments, LLC | 0.00% | No change | 8 | $584 |
| Raleigh Capital Management Inc. | 0.00% | New | 7 | $515 |
| Quaker Wealth Management, LLC | 0.00% | — | 5 | $366 |
"% of holder's portfolio" is ADC's weight in each manager's 13F, not the share of Agree Realty Corp. the manager owns.