FIRST INDL RLTY TR INC FR
COM · REIT · CUSIP 32054K103
Industrial real estate company
- SectorReal estate
- IndustryReal Estate Investment Trusts
- HeadquartersChicago, IL
- Websitefirstindustrial.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($9.4m this quarter). Holder counts are more reliable. Shares outstanding: 132.4m as of 2025-07-17, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $48.22. Options: 6 managers hold calls ($2.2m notional), 2 hold puts ($38.0k).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 345 |
| Q4 2022 | 342 |
| Q1 2023 | 345 |
| Q2 2023 | 364 |
| Q3 2023 | 377 |
| Q4 2023 | 362 |
| Q1 2024 | 374 |
| Q2 2024 | 382 |
| Q3 2024 | 399 |
| Q4 2024 | 415 |
| Q1 2025 | 440 |
| Q2 2025 | 422 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2023 | 190 | 172 |
| Q4 2023 | 169 | 196 |
| Q1 2024 | 172 | 175 |
| Q2 2024 | 181 | 180 |
| Q3 2024 | 203 | 169 |
| Q4 2024 | 203 | 170 |
| Q1 2025 | 232 | 172 |
| Q2 2025 | 223 | 223 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $1.6m | $989.9k | 0.64 |
| Q4 2024 | $2.8m | $220.4k | 0.08 |
| Q1 2025 | $237.4k | $252.7k | 1.06 |
| Q2 2025 | $2.2m | $38.0k | 0.02 |
Biggest buyers
| NORGES BANK | Added | +2.1m |
| RUSH ISLAND MANAGEMENT, LP | New | +1.7m |
| PGGM Investments | New | +1.6m |
| AQR CAPITAL MANAGEMENT LLC | Added | +1.5m |
| Engineers Gate Manager LP | Added | +1.0m |
| PRUDENTIAL FINANCIAL INC | Added | +588.2k |
| Alyeska Investment Group, L.P. | Added | +580.4k |
| Heitman Real Estate Securities LLC | New | +576.3k |
| Presima Securities ULC | New | +526.7k |
| Conversant Capital LLC | New | +390.0k |
Biggest sellers
| BlackRock, Inc. | Reduced | -1.3m |
| MILLENNIUM MANAGEMENT LLC | Reduced | -948.1k |
| ALLIANCEBERNSTEIN L.P. | Reduced | -878.2k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Reduced | -819.4k |
| Woodline Partners LP | Sold out | -795.7k |
| DEPRINCE RACE & ZOLLO INC | Sold out | -680.9k |
| Balyasny Asset Management L.P. | Sold out | -530.0k |
| GOLDMAN SACHS GROUP INC | Reduced | -455.0k |
| LANDMARK INVESTMENT PARTNERS, L.P. | Sold out | -420.2k |
| Invesco Ltd. | Reduced | -343.7k |
Biggest calls
| CITADEL ADVISORS LLC | Added | $808.6k16.8k shares |
| SIMPLEX TRADING, LLC | New | $717.0k14.9k shares |
| JANE STREET GROUP, LLC | New | $447.6k9.3k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | $216.6k4.5k shares |
| GROUP ONE TRADING LLC | Unchanged | $4.8k100 shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| SIMPLEX TRADING, LLC | Reduced | $38.0k800 shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution -3.3 pts · filed 2025-04-30 | 11.3% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 9.5% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 5.3% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC)
Insider purchases and sales in Q2 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
None reported in Q2 2025.
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.02% of their portfolio | 19.6m $941.2m | Added +205.1k |
| BlackRock, Inc. 0.02% of their portfolio | 16.7m $805.0m | Reduced -1.3m |
| STATE STREET CORP 0.01% of their portfolio | 6.6m $322.3m | Reduced -114.0k |
| NORGES BANK 0.03% of their portfolio | 5.7m $272.1m | Added +2.1m |
| Invesco Ltd. 0.03% of their portfolio | 4.0m $193.5m | Reduced -343.7k |
| MORGAN STANLEY 0.01% of their portfolio | 2.8m $133.7m | Added +136.7k |
| PRUDENTIAL FINANCIAL INC 0.18% of their portfolio | 2.6m $137.2m | Added +588.2k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 2.5m $121.9m | Reduced -26.1k |
| CENTERSQUARE INVESTMENT MANAGEMENT LLC 1.25% of their portfolio | 2.5m $120.3m | Added +119.4k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.02% of their portfolio | 2.4m $113.9m | Added +153.8k |
| CBRE INVESTMENT MANAGEMENT LISTED REAL ASSETS LLC 1.71% of their portfolio | 2.3m $112.8m | Added +272.6k |
| DEUTSCHE BANK AG\ 0.04% of their portfolio | 2.1m $102.4m | Added +273.0k |
| Thrivent Financial for Lutherans 0.22% of their portfolio | 2.1m $99.7m | Reduced -191.8k |
| DIMENSIONAL FUND ADVISORS LP 0.02% of their portfolio | 1.9m $92.6m | Reduced -23.0k |
| AQR CAPITAL MANAGEMENT LLC 0.07% of their portfolio | 1.9m $89.3m | Added +1.5m |
| AMERIPRISE FINANCIAL INC 0.02% of their portfolio | 1.7m $79.5m | Added +33.1k |
| RUSH ISLAND MANAGEMENT, LP 5.20% of their portfolio | 1.7m $79.9m | New |
| PGGM Investments 1.34% of their portfolio | 1.6m $77.0m | New |
| NORTHERN TRUST CORP 0.01% of their portfolio | 1.5m $70.5m | Reduced -111.0k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 1.5m $70.2m | Reduced -290.4k |
| CITADEL ADVISORS LLC 0.06% of their portfolio | 1.4m $69.6m | Added +193.5k |
| MACQUARIE GROUP LTD 0.08% of their portfolio | 1.4m $68.9m | Reduced -120.1k |
| ALLIANCEBERNSTEIN L.P. 0.02% of their portfolio | 1.4m $68.6m | Reduced -878.2k |
| FRONTIER CAPITAL MANAGEMENT CO LLC 0.59% of their portfolio | 1.3m $63.2m | Reduced -98.7k |
| MILLENNIUM MANAGEMENT LLC 0.06% of their portfolio | 1.3m $63.2m | Reduced -948.1k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.06% of their portfolio | 1.3m $62.0m | Added +231.8k |
| PRINCIPAL FINANCIAL GROUP INC 0.03% of their portfolio | 1.3m $60.7m | Reduced -93.0k |
| Alyeska Investment Group, L.P. 0.21% of their portfolio | 1.3m $60.2m | Added +580.4k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 1.1m $54.1m | Reduced -23.8k |
| Engineers Gate Manager LP 0.65% of their portfolio | 1.1m $52.1m | Added +1.0m |
| Artemis Investment Management LLP 0.65% of their portfolio | 1.0m $50.3m | Added +298.2k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 993.8k $47.8m | Added +329.6k |
| LONDON CO OF VIRGINIA 0.26% of their portfolio | 968.1k $46.6m | Reduced -8.5k |
| VICTORY CAPITAL MANAGEMENT INC 0.03% of their portfolio | 941.4k $45.3m | Added +322.0k |
| JANUS HENDERSON GROUP PLC 0.02% of their portfolio | 896.0k $43.1m | Added +120.1k |
| Russell Investments Group, Ltd. 0.05% of their portfolio | 877.2k $42.2m | Reduced -26.8k |
| Allianz Asset Management GmbH 0.05% of their portfolio | 837.9k $40.3m | Added +224.7k |
| Sumitomo Mitsui Trust Group, Inc. 0.03% of their portfolio | 837.0k $40.3m | Added +17.5k |
| Legal & General Group Plc 0.01% of their portfolio | 808.7k $38.9m | Reduced -11.5k |
| Nuveen, LLC 0.01% of their portfolio | 775.0k $37.3m | Reduced -4.6k |
| Land & Buildings Investment Management, LLC 7.36% of their portfolio | 765.9k $36.9m | Added +121.7k |
| LASALLE INVESTMENT MANAGEMENT SECURITIES LLC 1.28% of their portfolio | 651.4k $31.4m | Added +12.6k |
| FMR LLC 0.00% of their portfolio | 633.5k $30.5m | Reduced -36.5k |
| Starwood Capital Group Management, L.L.C. 18.49% of their portfolio | 581.0k $28.0m | Unchanged |
| Heitman Real Estate Securities LLC 1.97% of their portfolio | 576.3k $27.7m | New |
| Presima Securities ULC 5.83% of their portfolio | 526.7k $25.3m | New |
| Qube Research & Technologies Ltd 0.03% of their portfolio | 497.0k $23.9m | Added +191.8k |
| LORD, ABBETT & CO. LLC 0.07% of their portfolio | 450.6k $21.7m | Reduced -17.6k |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.08% of their portfolio | 439.2k $21.1m | Added +26.9k |
| RHUMBLINE ADVISERS 0.02% of their portfolio | 434.0k $20.9m | Added +26.4k |
| Argosy-Lionbridge Management, LLC 13.61% of their portfolio | 409.1k $19.7m | Reduced -67.5k |
| Boston Partners 0.02% of their portfolio | 405.6k $19.6m | Added +743 |
| Adelante Capital Management LLC 1.40% of their portfolio | 394.4k $19.0m | Reduced -4.6k |
| Alberta Investment Management Corp 0.15% of their portfolio | 393.3k $18.9m | Unchanged |
| Conversant Capital LLC 3.57% of their portfolio | 390.0k $18.8m | New |
| Lighthouse Investment Partners, LLC 0.81% of their portfolio | 385.0k $18.5m | Reduced -26.5k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 384.5k $18.5m | Reduced -455.0k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 348.0k $16.7m | Added +67.0k |
| SEGALL BRYANT & HAMILL, LLC 0.23% of their portfolio | 337.8k $16.3m | Added +13.0k |
| VIRGINIA RETIREMENT SYSTEMS ET Al 0.11% of their portfolio | 337.4k $16.2m | Reduced -99.0k |
| Quantinno Capital Management LP 0.07% of their portfolio | 334.3k $16.1m | Added +46.6k |
| Daiwa Securities Group Inc. 0.05% of their portfolio | 308.6k $14.9m | Added +77.6k |
| D. E. Shaw & Co., Inc. 0.01% of their portfolio | 301.7k $14.5m | Reduced -282.2k |
| CANADA LIFE ASSURANCE Co 0.02% of their portfolio | 298.0k $14.3m | Added +13.3k |
| VOYA INVESTMENT MANAGEMENT LLC 0.01% of their portfolio | 294.6k $14.2m | Reduced -219.5k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 293.8k $14.1m | Added +30.6k |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 293.5k $14.1m | Reduced -223.9k |
| State of Tennessee, Department of Treasury 0.05% of their portfolio | 285.4k $13.7m | Added +39.4k |
| Edgestream Partners, L.P. 0.38% of their portfolio | 280.8k $13.5m | Added +208.8k |
| JANE STREET GROUP, LLC 0.02% of their portfolio | 272.2k $13.1m | Reduced -24.8k |
| Asset Management One Co., Ltd. 0.04% of their portfolio | 263.6k $12.7m | Added +26.2k |
| Swiss National Bank 0.01% of their portfolio | 252.9k $12.2m | Reduced -3.5k |
| NFJ INVESTMENT GROUP, LLC 0.41% of their portfolio | 243.3k $11.7m | Added +123.5k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.04% of their portfolio | 239.4k $11.5m | Added +2.6k |
| Verition Fund Management LLC 0.07% of their portfolio | 236.6k $11.4m | Added +129.1k |
| State of Alaska, Department of Revenue 0.12% of their portfolio | 235.9k $11.3m | Reduced -2.5k |
| California Public Employees Retirement System 0.01% of their portfolio | 231.8k $11.2m | Added +14.7k |
| UBS Group AG 0.00% of their portfolio | 221.7k $10.7m | Added +104.5k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.04% of their portfolio | 221.2k $10.6m | Added +93.0k |
| TUDOR INVESTMENT CORP ET AL 0.08% of their portfolio | 212.7k $10.2m | Reduced -62.3k |
| RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio | 204.1k $9.8m | Reduced -301.6k |
| NOMURA ASSET MANAGEMENT CO LTD 0.03% of their portfolio | 193.7k $9.3m | Added +5.3k |
| STRS OHIO 0.03% of their portfolio | 187.8k $9.0m | Added +66.0k |
| IEQ CAPITAL, LLC 0.05% of their portfolio | 183.4k $8.8m | Added +170.1k |
| Sophron Capital Management L.P. 2.59% of their portfolio | 175.8k $8.5m | Added +154.7k |
| CITIGROUP INC 0.01% of their portfolio | 174.5k $8.4m | Added +66.7k |
| BANK OF MONTREAL /CAN/ 0.00% of their portfolio | 171.8k $8.3m | Added +111.1k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.02% of their portfolio | 171.2k $8.2m | Reduced -4.6k |
| Retirement Systems of Alabama 0.03% of their portfolio | 161.8k $7.8m | Added +682 |
| SUN LIFE FINANCIAL INC 0.42% of their portfolio | 160.1k $7.7m | Added +8.8k |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.01% of their portfolio | 160.1k $7.7m | Added +31.5k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 159.7k $7.7m | Reduced -819.4k |
| GSI Capital Advisors LLC 3.94% of their portfolio | 152.7k $7.3m | Added +424 |
| SEI INVESTMENTS CO 0.01% of their portfolio | 152.1k $7.3m | Added +34.0k |
| Sterling Capital Management LLC 0.10% of their portfolio | 147.4k $7.1m | Added +1.1k |
| Cubist Systematic Strategies, LLC 0.07% of their portfolio | 141.1k $6.8m | Reduced -224.7k |
| THIRD AVENUE MANAGEMENT LLC 1.32% of their portfolio | 132.7k $6.4m | Reduced -1.9k |
| BARCLAYS PLC 0.00% of their portfolio | 131.8k $6.3m | Reduced -116.2k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 126.3k $6.1m | Reduced -270 |
| Quantbot Technologies LP 0.15% of their portfolio | 124.6k $6.0m | Added +109.8k |