Vert Asset Management LLC Long-Term Concentrated

CIK: 0001904664 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Jan 27, 2026

Total Value ($000): $300,639 (100.0% shares, 0.0% debt)

Holdings (46)

New Positions (4)

CPT CAMDEN PPTY TR 1.0%

Value ($000) $3,150 Shares 28,619 Est. Cost $103.14 Unrealized 0.0%

LXP LXP INDUSTRIAL TRUST 0.5%

Value ($000) $1,405 Shares 28,336 Est. Cost $49.58 Unrealized —

KRG KITE RLTY GROUP TR 0.3%

Value ($000) $1,004 Shares 41,869 Est. Cost $23.97 Unrealized —

HPP HUDSON PAC PPTYS INC 0.1%

Value ($000) $195 Shares 18,048 Est. Cost $10.83 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CPT	CAMDEN PPTY TR	28,619	$3,150	1.0%	$103.14	0.0%	SH BEN INT	133131102
LXP	LXP INDUSTRIAL TRUST	28,336	$1,405	0.5%	$49.58	—	COM	529043408
KRG	KITE RLTY GROUP TR	41,869	$1,004	0.3%	$23.97	—	COM NEW	49803T300
HPP	HUDSON PAC PPTYS INC	18,048	$195	0.1%	$10.83	—	COM	444097406

Increased Positions (39)

VTR VENTAS INC 5.8%

Value ($000) $17,451 (+20.5%) Shares 225,527 (+9.0%) Est. Cost $50.09 Unrealized +49.7%

AMT AMERICAN TOWER CORP NEW 7.3%

Value ($000) $22,088 (+11.4%) Shares 125,806 (+22.0%) Est. Cost $198.22 Unrealized -9.0%

ARE ALEXANDRIA REAL ESTATE EQ IN 1.2%

Value ($000) $3,628 (-38.0%) Shares 74,130 (+5.5%) Est. Cost $127.42 Unrealized -54.5%

IRM IRON MTN INC DEL 3.9%

Value ($000) $11,690 (-14.8%) Shares 140,934 (+4.7%) Est. Cost $56.41 Unrealized +64.5%

EQIX EQUINIX INC 7.6%

Value ($000) $22,743 (+6.6%) Shares 29,684 (+9.0%) Est. Cost $732.44 Unrealized +6.7%

DLR DIGITAL RLTY TR INC 7.3%

Value ($000) $21,837 (-3.8%) Shares 141,148 (+7.5%) Est. Cost $125.60 Unrealized +29.9%

HST HOST HOTELS & RESORTS INC 2.0%

Value ($000) $6,036 (+14.3%) Shares 340,417 (+9.7%) Est. Cost $15.05 Unrealized +12.5%

EQR EQUITY RESIDENTIAL 3.7%

Value ($000) $11,058 (+7.0%) Shares 175,412 (+9.9%) Est. Cost $63.73 Unrealized -4.8%

DOC HEALTHPEAK PROPERTIES INC 1.8%

Value ($000) $5,536 (-9.3%) Shares 344,289 (+8.1%) Est. Cost $20.68 Unrealized -15.6%

MAA MID-AMER APT CMNTYS INC 2.6%

Value ($000) $7,949 (+7.2%) Shares 57,222 (+7.8%) Est. Cost $129.49 Unrealized +2.7%

ELS EQUITY LIFESTYLE PPTYS INC 1.8%

Value ($000) $5,516 (+9.4%) Shares 91,011 (+9.5%) Est. Cost $71.64 Unrealized —

VNO VORNADO RLTY TR 0.9%

Value ($000) $2,575 (-12.5%) Shares 77,387 (+6.6%) Est. Cost $30.00 Unrealized —

UDR UDR INC 1.9%

Value ($000) $5,610 (+6.0%) Shares 152,948 (+7.6%) Est. Cost $41.15 Unrealized -13.7%

STAG STAG INDL INC 1.1%

Value ($000) $3,234 (+10.5%) Shares 87,975 (+6.1%) Est. Cost $35.36 Unrealized —

BXP BXP INC 1.6%

Value ($000) $4,835 (-4.3%) Shares 71,644 (+5.4%) Est. Cost $71.31 Unrealized -1.3%

KRC KILROY RLTY CORP 0.7%

Value ($000) $1,988 (-9.8%) Shares 53,200 (+2.0%) Est. Cost $44.60 Unrealized —

SLG SL GREEN RLTY CORP 0.6%

Value ($000) $1,659 (-11.3%) Shares 36,178 (+15.6%) Est. Cost $56.45 Unrealized —

REXR REXFORD INDL RLTY INC 1.5%

Value ($000) $4,582 (+4.3%) Shares 118,345 (+10.8%) Est. Cost $56.33 Unrealized —

EXR EXTRA SPACE STORAGE INC 4.5%

Value ($000) $13,477 (-1.3%) Shares 103,492 (+6.8%) Est. Cost $141.52 Unrealized -4.6%

PECO PHILLIPS EDISON & CO INC 0.7%

Value ($000) $2,177 (+9.1%) Shares 61,202 (+5.3%) Est. Cost $36.25 Unrealized —

MAC MACERICH CO 0.8%

Value ($000) $2,289 (+8.0%) Shares 123,984 (+6.5%) Est. Cost $14.96 Unrealized —

FRT FEDERAL RLTY INVT TR NEW 1.3%

Value ($000) $3,917 (+4.4%) Shares 38,860 (+4.9%) Est. Cost $96.78 Unrealized +0.6%

COLD AMERICOLD REALTY TRUST INC 0.6%

Value ($000) $1,716 (+9.7%) Shares 133,439 (+4.4%) Est. Cost $28.09 Unrealized —

REG REGENCY CTRS CORP 1.9%

Value ($000) $5,861 (+2.6%) Shares 84,912 (+8.4%) Est. Cost $60.03 Unrealized +15.7%

ESS ESSEX PPTY TR INC 2.7%

Value ($000) $8,020 (+1.9%) Shares 30,650 (+4.2%) Est. Cost $213.04 Unrealized +20.3%

JBGS JBG SMITH PPTYS 0.2%

Value ($000) $546 (-21.1%) Shares 32,071 (+3.2%) Est. Cost $20.57 Unrealized —

DRH DIAMONDROCK HOSPITALITY CO 0.3%

Value ($000) $893 (+18.6%) Shares 99,710 (+5.4%) Est. Cost $8.68 Unrealized —

KIM KIMCO RLTY CORP 2.3%

Value ($000) $6,816 (+1.7%) Shares 336,256 (+9.6%) Est. Cost $19.08 Unrealized +7.8%

BRX BRIXMOR PPTY GROUP INC 1.3%

Value ($000) $3,801 (-2.8%) Shares 144,965 (+2.6%) Est. Cost $24.12 Unrealized —

ALEX ALEXANDER & BALDWIN INC NEW 0.2%

Value ($000) $705 (+17.8%) Shares 34,138 (+3.8%) Est. Cost $17.71 Unrealized —

AVB AVALONBAY CMNTYS INC 4.2%

Value ($000) $12,616 (+0.8%) Shares 69,583 (+7.4%) Est. Cost $184.94 Unrealized -2.8%

CSR CENTERSPACE 0.2%

Value ($000) $489 (+22.0%) Shares 7,335 (+7.7%) Est. Cost $66.41 Unrealized —

BDN BRANDYWINE RLTY TR 0.1%

Value ($000) $212 (-23.4%) Shares 72,480 (+9.3%) Est. Cost $5.03 Unrealized —

UMH UMH PPTYS INC 0.2%

Value ($000) $593 (+11.8%) Shares 37,247 (+4.4%) Est. Cost $16.47 Unrealized —

ESRT EMPIRE ST RLTY TR INC 0.1%

Value ($000) $385 (-10.3%) Shares 59,090 (+5.4%) Est. Cost $7.94 Unrealized —

CUZ COUSINS PPTYS INC 0.8%

Value ($000) $2,275 (+2.0%) Shares 88,259 (+14.5%) Est. Cost $29.00 Unrealized —

UE URBAN EDGE PPTYS 0.3%

Value ($000) $1,026 (-3.5%) Shares 53,474 (+2.9%) Est. Cost $19.05 Unrealized —

AAT AMERICAN ASSETS TR INC 0.1%

Value ($000) $403 (-5.0%) Shares 21,276 (+2.0%) Est. Cost $25.75 Unrealized —

VRE VERIS RESIDENTIAL INC 0.2%

Value ($000) $582 (+2.7%) Shares 39,131 (+4.9%) Est. Cost $15.94 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VTR	VENTAS INC	225,527 (+9.0%)	$17,451 (+20.5%)	5.8%	$50.09	+49.7%	COM	92276F100
AMT	AMERICAN TOWER CORP NEW	125,806 (+22.0%)	$22,088 (+11.4%)	7.3%	$198.22	-9.0%	COM	03027X100
ARE	ALEXANDRIA REAL ESTATE EQ IN	74,130 (+5.5%)	$3,628 (-38.0%)	1.2%	$127.42	-54.5%	COM	015271109
IRM	IRON MTN INC DEL	140,934 (+4.7%)	$11,690 (-14.8%)	3.9%	$56.41	+64.5%	COM	46284V101
EQIX	EQUINIX INC	29,684 (+9.0%)	$22,743 (+6.6%)	7.6%	$732.44	+6.7%	COM	29444U700
DLR	DIGITAL RLTY TR INC	141,148 (+7.5%)	$21,837 (-3.8%)	7.3%	$125.60	+29.9%	COM	253868103
HST	HOST HOTELS & RESORTS INC	340,417 (+9.7%)	$6,036 (+14.3%)	2.0%	$15.05	+12.5%	COM	44107P104
EQR	EQUITY RESIDENTIAL	175,412 (+9.9%)	$11,058 (+7.0%)	3.7%	$63.73	-4.8%	SH BEN INT	29476L107
DOC	HEALTHPEAK PROPERTIES INC	344,289 (+8.1%)	$5,536 (-9.3%)	1.8%	$20.68	-15.6%	COM	42250P103
MAA	MID-AMER APT CMNTYS INC	57,222 (+7.8%)	$7,949 (+7.2%)	2.6%	$129.49	+2.7%	COM	59522J103
ELS	EQUITY LIFESTYLE PPTYS INC	91,011 (+9.5%)	$5,516 (+9.4%)	1.8%	$71.64	—	COM	29472R108
VNO	VORNADO RLTY TR	77,387 (+6.6%)	$2,575 (-12.5%)	0.9%	$30.00	—	SH BEN INT	929042109
UDR	UDR INC	152,948 (+7.6%)	$5,610 (+6.0%)	1.9%	$41.15	-13.7%	COM	902653104
STAG	STAG INDL INC	87,975 (+6.1%)	$3,234 (+10.5%)	1.1%	$35.36	—	COM	85254J102
BXP	BXP INC	71,644 (+5.4%)	$4,835 (-4.3%)	1.6%	$71.31	-1.3%	COM	101121101
KRC	KILROY RLTY CORP	53,200 (+2.0%)	$1,988 (-9.8%)	0.7%	$44.60	—	COM	49427F108
SLG	SL GREEN RLTY CORP	36,178 (+15.6%)	$1,659 (-11.3%)	0.6%	$56.45	—	COM	78440X887
REXR	REXFORD INDL RLTY INC	118,345 (+10.8%)	$4,582 (+4.3%)	1.5%	$56.33	—	COM	76169C100
EXR	EXTRA SPACE STORAGE INC	103,492 (+6.8%)	$13,477 (-1.3%)	4.5%	$141.52	-4.6%	COM	30225T102
PECO	PHILLIPS EDISON & CO INC	61,202 (+5.3%)	$2,177 (+9.1%)	0.7%	$36.25	—	COMMON STOCK	71844V201
MAC	MACERICH CO	123,984 (+6.5%)	$2,289 (+8.0%)	0.8%	$14.96	—	COM	554382101
FRT	FEDERAL RLTY INVT TR NEW	38,860 (+4.9%)	$3,917 (+4.4%)	1.3%	$96.78	+0.6%	SH BEN INT NEW	313745101
COLD	AMERICOLD REALTY TRUST INC	133,439 (+4.4%)	$1,716 (+9.7%)	0.6%	$28.09	—	COM	03064D108
REG	REGENCY CTRS CORP	84,912 (+8.4%)	$5,861 (+2.6%)	1.9%	$60.03	+15.7%	COM	758849103
ESS	ESSEX PPTY TR INC	30,650 (+4.2%)	$8,020 (+1.9%)	2.7%	$213.04	+20.3%	COM	297178105
JBGS	JBG SMITH PPTYS	32,071 (+3.2%)	$546 (-21.1%)	0.2%	$20.57	—	COM	46590V100
DRH	DIAMONDROCK HOSPITALITY CO	99,710 (+5.4%)	$893 (+18.6%)	0.3%	$8.68	—	COM	252784301
KIM	KIMCO RLTY CORP	336,256 (+9.6%)	$6,816 (+1.7%)	2.3%	$19.08	+7.8%	COM	49446R109
BRX	BRIXMOR PPTY GROUP INC	144,965 (+2.6%)	$3,801 (-2.8%)	1.3%	$24.12	—	COM	11120U105
ALEX	ALEXANDER & BALDWIN INC NEW	34,138 (+3.8%)	$705 (+17.8%)	0.2%	$17.71	—	COM	014491104
AVB	AVALONBAY CMNTYS INC	69,583 (+7.4%)	$12,616 (+0.8%)	4.2%	$184.94	-2.8%	COM	053484101
CSR	CENTERSPACE	7,335 (+7.7%)	$489 (+22.0%)	0.2%	$66.41	—	COM	15202L107
BDN	BRANDYWINE RLTY TR	72,480 (+9.3%)	$212 (-23.4%)	0.1%	$5.03	—	SH BEN INT NEW	105368203
UMH	UMH PPTYS INC	37,247 (+4.4%)	$593 (+11.8%)	0.2%	$16.47	—	COM	903002103
ESRT	EMPIRE ST RLTY TR INC	59,090 (+5.4%)	$385 (-10.3%)	0.1%	$7.94	—	CL A	292104106
CUZ	COUSINS PPTYS INC	88,259 (+14.5%)	$2,275 (+2.0%)	0.8%	$29.00	—	COM NEW	222795502
UE	URBAN EDGE PPTYS	53,474 (+2.9%)	$1,026 (-3.5%)	0.3%	$19.05	—	COM	91704F104
AAT	AMERICAN ASSETS TR INC	21,276 (+2.0%)	$403 (-5.0%)	0.1%	$25.75	—	COM	024013104
VRE	VERIS RESIDENTIAL INC	39,131 (+4.9%)	$582 (+2.7%)	0.2%	$15.94	—	COM	554489104

Exited Positions (3)

— LXP INDUSTRIAL TRUST 0.4%

Value ($000) $1,291 Shares 144,068 Est. Cost $9.00 Unrealized —

RLJ RLJ LODGING TR 0.2%

Value ($000) $489 Shares 67,864 Est. Cost $10.80 Unrealized —

— HUDSON PAC PPTYS INC 0.1%

Value ($000) $251 Shares 90,954 Est. Cost $7.63 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	LXP INDUSTRIAL TRUST	144,068	$1,291	0.4%	$9.00	—	—	529043101
RLJ	RLJ LODGING TR	67,864	$489	0.2%	$10.80	—	—	74965L101
—	HUDSON PAC PPTYS INC	90,954	$251	0.1%	$7.63	—	—	444097109

Decreased Positions (3)

WELL WELLTOWER INC 7.2%

Value ($000) $21,561 (-12.1%) Shares 116,162 (-15.7%) Est. Cost $75.24 Unrealized +147.9%

SPG SIMON PPTY GROUP INC NEW 7.4%

Value ($000) $22,354 (-7.5%) Shares 120,759 (-6.3%) Est. Cost $113.04 Unrealized +59.2%

PLD PROLOGIS INC. 7.4%

Value ($000) $22,155 (+0.3%) Shares 173,545 (-10.0%) Est. Cost $115.63 Unrealized +7.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
WELL	WELLTOWER INC	116,162 (-15.7%)	$21,561 (-12.1%)	7.2%	$75.24	+147.9%	COM	95040Q104
SPG	SIMON PPTY GROUP INC NEW	120,759 (-6.3%)	$22,354 (-7.5%)	7.4%	$113.04	+59.2%	COM	828806109
PLD	PROLOGIS INC.	173,545 (-10.0%)	$22,155 (+0.3%)	7.4%	$115.63	+7.1%	COM	74340W103