OUT
Equity Real Estate Investment Trusts (REITs)
CROWD: AMBER
Institutional ownership is building here (3 rising quarters). Not yet crowded, but the quiet phase is ending.
Active holders
126
of 332 total, index funds excluded
Conviction
2 bps
median holder weight: token bet
Streak
3q
consecutive rising quarters
The crowd, 2016 to now
active holders per quarter
2016Mar 2026
Holdings as of Mar 31, 2026, filed by May 16, 2026. Counts for the newest quarter keep settling for a few weeks as amendments land.
The tide
funds in (up) vs out (down)
Top holders
by reported value · $4.8B held
| Fund | Value | Note |
|---|
| BlackRock, Inc. |
$643M |
|
| COHEN & STEERS, INC. |
$570M |
|
| VANGUARD PORTFOLIO MANAGEME… |
$438M |
|
| FMR LLC |
$411M |
|
| Providence Equity Partners … |
$236M |
|
| VANGUARD CAPITAL MANAGEMENT… |
$184M |
|
| STATE STREET CORP |
$148M |
|
| WELLINGTON MANAGEMENT GROUP… |
$147M |
|
| Invesco Ltd. |
$123M |
|
| GEODE CAPITAL MANAGEMENT, L… |
$112M |
|
Tourists vs true believers
every holder a dot · right = bigger bet in their own book, up = patient money
Hover any dot for the fund and its bet size. Patience is measured from each filer's actual quarter-to-quarter turnover across our whole database.