# Vert Asset Management LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1904664. Source: https://holderbook.com/funds/1904664-vert-asset-management-llc/

- Reported value: $365.5M
- Positions: 44
- Weight of the ten largest: 63.1%
- Filed: 2026-07-15

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| EQUINIX INC | [EQIX](https://holderbook.com/stocks/EQIX/) | $30.3M | 29,044 | 8.3% | 19 |
| SIMON PPTY GROUP INC NEW | [SPG](https://holderbook.com/stocks/SPG/) | $29.0M | 129,706 | 7.9% | 19 |
| WELLTOWER INC | [WELL](https://holderbook.com/stocks/WELL/) | $27.8M | 122,448 | 7.6% | 19 |
| PROLOGIS INC. | [PLD](https://holderbook.com/stocks/PLD/) | $24.8M | 183,272 | 6.8% | 19 |
| DIGITAL RLTY TR INC | [DLR](https://holderbook.com/stocks/DLR/) | $24.4M | 136,008 | 6.7% | 19 |
| AMERICAN TOWER CORP | [AMT](https://holderbook.com/stocks/AMT/) | $22.7M | 138,807 | 6.2% | 19 |
| VENTAS INC | [VTR](https://holderbook.com/stocks/VTR/) | $22.5M | 253,903 | 6.2% | 19 |
| IRON MTN INC DEL | [IRM](https://holderbook.com/stocks/IRM/) | $19.5M | 154,450 | 5.3% | 19 |
| EXTRA SPACE STORAGE INC | [EXR](https://holderbook.com/stocks/EXR/) | $15.9M | 109,611 | 4.4% | 19 |
| AVALONBAY CMNTYS INC | [AVB](https://holderbook.com/stocks/AVB/) | $13.6M | 72,165 | 3.7% | 19 |
| EQUITY RESIDENTIAL | [EQR](https://holderbook.com/stocks/EQR/) | $12.2M | 179,611 | 3.3% | 19 |
| ESSEX PPTY TR INC | [ESS](https://holderbook.com/stocks/ESS/) | $9.5M | 32,701 | 2.6% | 15 |
| KIMCO REALTY CORP | [KIM](https://holderbook.com/stocks/KIM/) | $8.8M | 348,358 | 2.4% | 19 |
| HOST HOTELS & RESORTS INC | [HST](https://holderbook.com/stocks/HST/) | $8.4M | 355,770 | 2.3% | 19 |
| MID-AMER APT CMNTYS INC | [MAA](https://holderbook.com/stocks/MAA/) | $8.1M | 58,352 | 2.2% | 10 |
| HEALTHPEAK PROPERTIES INC | [DOC](https://holderbook.com/stocks/DOC/) | $7.6M | 354,881 | 2.1% | 19 |
| REGENCY CTRS CORP | [REG](https://holderbook.com/stocks/REG/) | $7.0M | 87,809 | 1.9% | 19 |
| UDR INC | [UDR](https://holderbook.com/stocks/UDR/) | $6.4M | 160,196 | 1.7% | 19 |
| EQUITY LIFESTYLE PROPERTIES | [ELS](https://holderbook.com/stocks/ELS/) | $6.0M | 93,668 | 1.7% | 19 |
| CAMDEN PPTY TR | [CPT](https://holderbook.com/stocks/CPT/) | $5.8M | 50,682 | 1.6% | 3 |
| BXP INC | [BXP](https://holderbook.com/stocks/BXP/) | $5.1M | 77,301 | 1.4% | 19 |
| FEDERAL RLTY INVT TR NEW | [FRT](https://holderbook.com/stocks/FRT/) | $5.0M | 40,678 | 1.4% | 18 |
| BRIXMOR PPTY GROUP INC | [BRX](https://holderbook.com/stocks/BRX/) | $4.7M | 149,855 | 1.3% | 9 |
| ALEXANDRIA REAL ESTATE EQ IN | [ARE](https://holderbook.com/stocks/ARE/) | $4.2M | 80,072 | 1.2% | 19 |
| REXFORD INDL RLTY INC | [REXR](https://holderbook.com/stocks/REXR/) | $3.9M | 115,569 | 1.1% | 19 |
| STAG INDUSTRIAL INC | [STAG](https://holderbook.com/stocks/STAG/) | $3.7M | 97,307 | 1.0% | 13 |
| MACERICH CO | [MAC](https://holderbook.com/stocks/MAC/) | $3.4M | 136,262 | 0.9% | 19 |
| VORNADO RLTY TR | [VNO](https://holderbook.com/stocks/VNO/) | $3.3M | 84,506 | 0.9% | 19 |
| KITE REALTY GROUP TRUST | [KRG](https://holderbook.com/stocks/KRG/) | $2.9M | 101,386 | 0.8% | 3 |
| PHILLIPS EDISON & CO INC | [PECO](https://holderbook.com/stocks/PECO/) | $2.6M | 63,606 | 0.7% | 6 |
| COUSINS PPTYS INC | [CUZ](https://holderbook.com/stocks/CUZ/) | $2.5M | 82,995 | 0.7% | 6 |
| AMERICOLD REALTY TRUST INC | [COLD](https://holderbook.com/stocks/COLD/) | $2.3M | 145,128 | 0.6% | 19 |
| KILROY REALTY CORP | [KRC](https://holderbook.com/stocks/KRC/) | $2.1M | 57,083 | 0.6% | 19 |
| SL GREEN RLTY CORP | [SLG](https://holderbook.com/stocks/SLG/) | $1.9M | 36,379 | 0.5% | 9 |
| LXP INDUSTRIAL TRUST | [LXP](https://holderbook.com/stocks/LXP/) | $1.6M | 28,965 | 0.4% | 3 |
| URBAN EDGE PPTYS | [UE](https://holderbook.com/stocks/UE/) | $1.4M | 59,459 | 0.4% | 6 |
| DIAMONDROCK HOSPITALITY CO | [DRH](https://holderbook.com/stocks/DRH/) | $1.3M | 110,053 | 0.4% | 19 |
| AMERICAN ASSETS TR INC | [AAT](https://holderbook.com/stocks/AAT/) | $586.9K | 23,770 | 0.2% | 19 |
| UMH PPTYS INC | [UMH](https://holderbook.com/stocks/UMH/) | $578.9K | 38,237 | 0.2% | 15 |
| JBG SMITH PPTYS | [JBGS](https://holderbook.com/stocks/JBGS/) | $460.2K | 31,371 | 0.1% | 19 |
| CENTERSPACE | [CSR](https://holderbook.com/stocks/CSR/) | $434.8K | 7,738 | 0.1% | 9 |
| EMPIRE ST RLTY TR INC | [ESRT](https://holderbook.com/stocks/ESRT/) | $319.7K | 59,090 | 0.1% | 19 |
| HUDSON PACIFIC PROPERTIES IN | [HPP](https://holderbook.com/stocks/HPP/) | $292.0K | 19,222 | 0.1% | 3 |
| BRANDYWINE RLTY TR | [BDN](https://holderbook.com/stocks/BDN/) | $229.8K | 72,480 | 0.1% | 15 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +11.7% | +14.8% | -3.1% | 100% |
| Q1 2026 | +3.4% | -4.6% | +8.0% | 100% |
| Q4 2025 | -1.7% | +2.4% | -4.1% | 100% |
| Q3 2025 | +2.6% | +7.8% | -5.2% | 100% |
| Q2 2025 | -1.4% | +10.5% | -11.9% | 100% |
| Q1 2025 | -0.9% | -4.6% | +3.6% | 100% |
| Q4 2024 | -5.8% | +2.1% | -7.9% | 100% |
| Q3 2024 | +14.8% | +5.4% | +9.4% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $365.5M | 44 |
| Q1 2026 | $315.1M | 45 |
| Q4 2025 | $300.6M | 46 |
| Q3 2025 | $297.4M | 45 |
| Q2 2025 | $274.6M | 45 |
| Q1 2025 | $290.9M | 45 |
| Q4 2024 | $292.1M | 43 |
| Q3 2024 | $290.1M | 42 |
| Q2 2024 | $250.9M | 42 |
| Q1 2024 | $237.8M | 42 |
| Q4 2023 | $231.8M | 41 |
| Q3 2023 | $197.2M | 42 |