Vision Capital Corp

TORONTO, A6 · CIK 1764403 · 13F filing filed 2025-08-14

Exempt reporting adviser since 2018 · corporation

$223.7m reported value +6.4% vs Q1 2025

12positions

94.8%in top 10

2 new 5 added 2 reduced 3 sold out vs Q1 2025

Options: 0 call positions (— notional), 2 put positions ($154.1m notional) – listed below, not included above.

Holdings, Q2 2025

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	SUN CMNTYS INC COM SUI	SUI	274,860	$34.8m15.54%	15.54%	Unchanged
2	AMERICOLD REALTY TRUST INC COM COLD	COLD	1,912,320	$31.8m14.21%	14.21%	Added +675.0k	+675,000 54.5%
3	UDR INC COM UDR	UDR	774,000	$31.6m14.12%	14.12%	New
4	INVENTRUST PPTYS CORP COM NEW IVT	IVT	989,472	$27.1m12.12%	12.12%	Added +639.5k	+639,472 182.7%
5	EQUINIX INC COM EQIX	EQIX	33,075	$26.3m11.76%	11.76%	Unchanged
6	SL GREEN RLTY CORP COM SLG	SLG	330,000	$20.4m9.13%	9.13%	Added +130.0k	+130,000 65.0%
7	EASTGROUP PPTYS INC COM EGP	EGP	81,000	$13.5m6.05%	6.05%	Added +3.0k	+3,000 3.9%
8	DIGITAL RLTY TR INC COM DLR	DLR	58,969	$10.3m4.59%	4.59%	Unchanged
9	HUDSON PAC PPTYS INC COM COM		3,482,555	$9.5m4.26%	4.26%	New
10	KITE RLTY GROUP TR COM NEW KRG	KRG	293,822	$6.7m2.97%	2.97%	Reduced -256.2k	-256,178 -46.6%
11	CBRE GROUP INC CL A CBRE	CBRE	45,000	$6.3m2.82%	2.82%	Reduced -110.0k	-110,000 -71.0%
12	APARTMENT INVT & MGMT CO CL A AIV	AIV	624,036	$5.4m2.41%	2.41%	Added +375.3k	+375,256 150.8%

Security	Ticker	Shares held before	Value then
PIEDMONT OFFICE REALTY TR IN PDM	PDM	3,276,777	$24.1m3.3m shares
EMPIRE ST RLTY TR INC ESRT	ESRT	1,632,859	$12.8m1.6m shares
SUNSTONE HOTEL INVS INC NEW SHO	SHO	600,000	$5.6m600.0k shares

Underlying	Ticker	Type	Shares controlled	Notional	Change
ISHARES TR Put		Put	1,225,400	$116.1m1.2m shares	Added
ISHARES TR Put		Put	408,000	$38.0m408.0k shares	New