Vault-13

FIRST INDL RLTY TR INC FR

COM · REIT · CUSIP 32054K103

Industrial real estate company

417 institutional holders -5 vs Q2 2025
129,483,551129.5m shares reported held*
97.8% of all shares outstanding*
$6.7bnreported value*
47 new 150 added 162 reduced 47 sold out net bought ≈ $208.5m (+4.1m shares)

* 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 ($9.3m this quarter). Holder counts are more reliable. Shares outstanding: 132.4m as of 2025-10-17, 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 ≈ $51.48. Options: 2 managers hold calls ($725.4k notional), 1 hold puts ($10.0k).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 345Q4 22: 342Q1 23: 345Q2 23: 364Q3 23: 377Q4 23: 362Q1 24: 374Q2 24: 382Q3 24: 399Q4 24: 415Q1 25: 440Q2 25: 422Q3 25: 417417Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 2022345
Q4 2022342
Q1 2023345
Q2 2023364
Q3 2023377
Q4 2023362
Q1 2024374
Q2 2024382
Q3 2024399
Q4 2024415
Q1 2025440
Q2 2025422
Q3 2025417

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
4000400Q4 23: 169 bought or addedQ4 23: 196 cut or sold outQ1 24: 172 bought or addedQ1 24: 175 cut or sold outQ1 24Q2 24: 181 bought or addedQ2 24: 180 cut or sold outQ3 24: 203 bought or addedQ3 24: 169 cut or sold outQ3 24Q4 24: 203 bought or addedQ4 24: 170 cut or sold outQ1 25: 232 bought or addedQ1 25: 172 cut or sold outQ1 25Q2 25: 223 bought or addedQ2 25: 223 cut or sold outQ3 25: 197 bought or addedQ3 25: 209 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 2023169196
Q1 2024172175
Q2 2024181180
Q3 2024203169
Q4 2024203170
Q1 2025232172
Q2 2025223223
Q3 2025197209

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$1m$2m$3mQ4 24 calls: $2.8mQ4 24 puts: $220.4kQ4 24P/C 0.08Q1 25 calls: $237.4kQ1 25 puts: $252.7kQ1 25P/C 1.06Q2 25 calls: $2.2mQ2 25 puts: $38.0kQ2 25P/C 0.02Q3 25 calls: $725.4kQ3 25 puts: $10.0kQ3 25P/C 0.01
Numbers
QuarterCallsPutsP/C
Q4 2024$2.8m$220.4k0.08
Q1 2025$237.4k$252.7k1.06
Q2 2025$2.2m$38.0k0.02
Q3 2025$725.4k$10.0k0.01

Biggest buyers

JPMORGAN CHASE & CO Added +1,714,282+1.7m
DUFF & PHELPS INVESTMENT MANAGEMENT CO New +1,449,075+1.4m
CITADEL ADVISORS LLC Added +1,052,185+1.1m
PGGM Investments Added +736,477+736.5k
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Added +696,596+696.6k
Alyeska Investment Group, L.P. Added +536,498+536.5k
UBS Group AG Added +458,114+458.1k
Brookfield Corp /ON/ New +447,185+447.2k
Engineers Gate Manager LP Added +415,422+415.4k
Quantinno Capital Management LP Added +400,776+400.8k

Biggest sellers

ALLIANCEBERNSTEIN L.P. Reduced -1,148,244-1.1m
JANUS HENDERSON GROUP PLC Reduced -750,406-750.4k
Conversant Capital LLC Sold out -390,000-390.0k
AQR CAPITAL MANAGEMENT LLC Reduced -265,935-265.9k
JANE STREET GROUP, LLC Reduced -263,212-263.2k
MANUFACTURERS LIFE INSURANCE COMPANY, THE Reduced -252,191-252.2k
MILLENNIUM MANAGEMENT LLC Reduced -236,941-236.9k
MORGAN STANLEY Reduced -196,401-196.4k
FMR LLC Reduced -186,801-186.8k
D. E. Shaw & Co., Inc. Reduced -181,148-181.1k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $468.4k9.1k shares
SIMPLEX TRADING, LLC Reduced $257.0k5.0k shares

Biggest puts

SIMPLEX TRADING, LLC Reduced $10.0k200 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.

HolderStakeChangeShares Last filed
BlackRock, Inc. 13G · institution -3.3 pts · filed 2025-04-30 11.3% -3.3 pts 14.9m≈ $915.8m 2025-04-30
VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 9.5% new 12.6m≈ $774.5m 2026-04-29
VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 5.3% new 7.0m≈ $430.8m 2026-04-29

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 Q3 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 Q3 2025.

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 VANGUARD GROUP INC 0.01% of their portfolio Valley Forge, PA 19,459,77819.5m $1.0bn $1.0bn 0.01% Reduced -94.9k -94,946
2 BlackRock, Inc. 0.02% of their portfolio New York, NY 16,680,05416.7m $858.5m $858.5m 0.02% Reduced -45.5k -45,495
3 STATE STREET CORP 0.01% of their portfolio BOSTON, MA 6,583,9456.6m $341.8m $341.8m 0.01% Reduced -51.9k -51,859
4 Invesco Ltd. 0.04% of their portfolio ATLANTA, GA 4,343,7234.3m $223.6m $223.6m 0.04% Added +323.2k +323,248
5 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 3,172,7343.2m $163.3m $163.3m 0.01% Added +1.7m +1,714,282
6 PRUDENTIAL FINANCIAL INC 0.16% of their portfolio NEWARK, NJ 2,636,3392.6m $135.7m $135.7m 0.16% Added +19.0k +19,001
7 GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio BOSTON, MA 2,588,8662.6m $133.3m $133.3m 0.01% Added +56.4k +56,368
8 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 2,580,7572.6m $132.8m $132.8m 0.01% Reduced -196.4k -196,401
9 CITADEL ADVISORS LLC 0.10% of their portfolio MIAMI, FL 2,498,1722.5m $128.6m $128.6m 0.10% Added +1.1m +1,052,185
10 CBRE INVESTMENT MANAGEMENT LISTED REAL ASSETS LLC 1.79% of their portfolio RADNOR, PA 2,438,0122.4m $125.5m $125.5m 1.79% Added +95.2k +95,177
11 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.02% of their portfolio SAN FRANCISCO, CA 2,408,4742.4m $124.0m $124.0m 0.02% Added +41.8k +41,800
12 CENTERSQUARE INVESTMENT MANAGEMENT LLC 1.24% of their portfolio CONSHOHOCKEN, PA 2,397,1072.4m $123.4m $123.4m 1.24% Reduced -102.2k -102,221
13 PGGM Investments 1.95% of their portfolio ZEIST, P7 2,337,1002.3m $120.3m $120.3m 1.95% Added +736.5k +736,477
14 Thrivent Financial for Lutherans 0.22% of their portfolio Minneapolis, MN 2,134,8902.1m $109.9m $109.9m 0.22% Added +63.1k +63,112
15 DEUTSCHE BANK AG\ 0.04% of their portfolio FRANKFURT AM MAIN, 2M 2,102,8292.1m $108.2m $108.2m 0.04% Reduced -25.0k -25,044
16 RUSH ISLAND MANAGEMENT, LP 7.25% of their portfolio NEW YORK, NY 2,053,8292.1m $105.7m $105.7m 7.25% Added +393.7k +393,655
17 DIMENSIONAL FUND ADVISORS LP 0.02% of their portfolio AUSTIN, TX 1,985,4502.0m $102.2m $102.2m 0.02% Added +60.6k +60,605
18 Alyeska Investment Group, L.P. 0.28% of their portfolio CHICAGO, IL 1,787,9881.8m $92.0m $92.0m 0.28% Added +536.5k +536,498
19 MACQUARIE GROUP LTD 0.10% of their portfolio Sydney, NSW 2000, C3 1,668,1441.7m $85.9m $85.9m 0.10% Added +235.6k +235,580
20 AMERIPRISE FINANCIAL INC 0.02% of their portfolio MINNEAPOLIS, MN 1,609,7871.6m $80.8m $80.8m 0.02% Reduced -96.7k -96,681
21 AQR CAPITAL MANAGEMENT LLC 0.05% of their portfolio Greenwich, CT 1,589,2791.6m $81.7m $81.7m 0.05% Reduced -265.9k -265,935
22 Engineers Gate Manager LP 0.88% of their portfolio NEW YORK, NY 1,497,3471.5m $77.1m $77.1m 0.88% Added +415.4k +415,422
23 DUFF & PHELPS INVESTMENT MANAGEMENT CO 0.85% of their portfolio CHICAGO, IL 1,449,0751.4m $74.6m $74.6m 0.85% New
24 NORTHERN TRUST CORP 0.01% of their portfolio CHICAGO, IL 1,372,7451.4m $70.7m $70.7m 0.01% Reduced -91.6k -91,615
25 FRONTIER CAPITAL MANAGEMENT CO LLC 0.60% of their portfolio Boston, MA 1,291,0411.3m $66.4m $66.4m 0.60% Reduced -22.8k -22,844
26 PRINCIPAL FINANCIAL GROUP INC 0.03% of their portfolio DES MOINES, IA 1,173,7431.2m $60.4m $60.4m 0.03% Reduced -86.4k -86,441
27 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 1,079,9331.1m $55.6m $55.6m 0.01% Reduced -43.5k -43,495
28 MILLENNIUM MANAGEMENT LLC 0.04% of their portfolio NEW YORK, NY 1,075,6341.1m $55.4m $55.4m 0.04% Reduced -236.9k -236,941
29 Artemis Investment Management LLP 0.68% of their portfolio EDINBURGH, X0 1,061,8951.1m $54.7m $54.7m 0.68% Added +17.0k +16,957
30 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.04% of their portfolio Toronto, A6 1,035,6401.0m $53.3m $53.3m 0.04% Reduced -252.2k -252,191
31 VICTORY CAPITAL MANAGEMENT INC 0.03% of their portfolio San Antonio, TX 950,971951.0k $48.9m $48.9m 0.03% Added +9.5k +9,522
32 LONDON CO OF VIRGINIA 0.27% of their portfolio RICHMOND, VA 942,403942.4k $48.5m $48.5m 0.27% Reduced -25.7k -25,729
33 Sumitomo Mitsui Trust Group, Inc. 0.03% of their portfolio CHIYODA-KU, TOKYO, M0 915,239915.2k $47.1m $47.1m 0.03% Added +78.2k +78,232
34 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 898,370898.4k $46.2m $46.2m 0.00% Reduced -95.4k -95,429
35 Russell Investments Group, Ltd. 0.05% of their portfolio Seattle, WA 883,657883.7k $45.5m $45.5m 0.05% Added +6.4k +6,446
36 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio NEW YORK, NY 856,308856.3k $44.1m $44.1m 0.01% Added +696.6k +696,596
37 Nuveen, LLC 0.01% of their portfolio CHARLOTTE, NC 760,485760.5k $39.1m $39.1m 0.01% Reduced -14.5k -14,477
38 Legal & General Group Plc 0.01% of their portfolio London, X0 735,301735.3k $37.8m $37.8m 0.01% Reduced -73.4k -73,421
39 Quantinno Capital Management LP 0.10% of their portfolio NEW YORK, NY 735,117735.1k $37.8m $37.8m 0.10% Added +400.8k +400,776
40 LASALLE INVESTMENT MANAGEMENT SECURITIES LLC 1.48% of their portfolio BALTIMORE, MD 733,289733.3k $37.7m $37.7m 1.48% Added +81.9k +81,878
41 Land & Buildings Investment Management, LLC 6.71% of their portfolio STAMFORD, CT 710,521710.5k $36.6m $36.6m 6.71% Reduced -55.4k -55,390
42 UBS Group AG 0.01% of their portfolio ZURICH, V8 679,794679.8k $35.0m $35.0m 0.01% Added +458.1k +458,114
43 Allianz Asset Management GmbH 0.04% of their portfolio MUNICH, 2M 667,590667.6k $34.4m $34.4m 0.04% Reduced -170.3k -170,294
44 Heitman Real Estate Securities LLC 2.23% of their portfolio Chicago, IL 635,109635.1k $32.7m $32.7m 2.23% Added +58.8k +58,828
45 Starwood Capital Group Management, L.L.C. 16.95% of their portfolio MIAMI BEACH, FL 581,012581.0k $29.9m $29.9m 16.95% Unchanged
46 Brookfield Corp /ON/ 0.03% of their portfolio TORONTO, A6 447,185447.2k $23.0m $23.0m 0.03% New
47 FMR LLC 0.00% of their portfolio BOSTON, MA 446,732446.7k $23.0m $23.0m 0.00% Reduced -186.8k -186,801
48 Presima Securities ULC 6.29% of their portfolio MONTREAL, A8 444,391444.4k $22.9m $22.9m 6.29% Reduced -82.3k -82,298
49 Lighthouse Investment Partners, LLC 0.80% of their portfolio Palm Beach Gardens, FL 429,200429.2k $22.1m $22.1m 0.80% Added +44.2k +44,200
50 RHUMBLINE ADVISERS 0.02% of their portfolio BOSTON, MA 420,732420.7k $21.7m $21.7m 0.02% Reduced -13.3k -13,257
51 LORD, ABBETT & CO. LLC 0.06% of their portfolio JERSEY CITY, NJ 418,774418.8k $21.6m $21.6m 0.06% Reduced -31.8k -31,788
52 Argosy-Lionbridge Management, LLC 13.68% of their portfolio WAYNE, PA 404,061404.1k $20.8m $20.8m 13.68% Reduced -5.0k -5,000
53 Boston Partners 0.02% of their portfolio BOSTON, MA 403,549403.5k $20.8m $20.8m 0.02% Reduced -2.0k -2,022
54 Adelante Capital Management LLC 1.37% of their portfolio ALAMEDA, CA 397,648397.6k $20.5m $20.5m 1.37% Added +3.2k +3,203
55 Alberta Investment Management Corp 0.15% of their portfolio EDMONTON, A0 393,302393.3k $20.2m $20.2m 0.15% Unchanged
56 Hudson Bay Capital Management LP 0.12% of their portfolio STAMFORD, CT 391,911391.9k $20.2m $20.2m 0.12% New
57 Qube Research & Technologies Ltd 0.03% of their portfolio LONDON, X0 377,926377.9k $19.5m $19.5m 0.03% Reduced -119.1k -119,063
58 AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio KANSAS CITY, MO 360,223360.2k $18.5m $18.5m 0.01% Added +309.4k +309,444
59 SEGALL BRYANT & HAMILL, LLC 0.24% of their portfolio CHICAGO, IL 348,439348.4k $17.9m $17.9m 0.24% Added +10.6k +10,624
60 State of Tennessee, Department of Treasury 0.06% of their portfolio NASHVILLE, TN 335,779335.8k $17.3m $17.3m 0.06% Added +50.4k +50,410
61 Daiwa Securities Group Inc. 0.06% of their portfolio CHIYODA-KU,TOKYO, M0 332,474332.5k $17.1m $17.1m 0.06% Added +23.9k +23,903
62 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 325,030325.0k $16.7m $16.7m 0.00% Added +31.5k +31,516
63 CANADA LIFE ASSURANCE Co 0.02% of their portfolio WINNIPEG, A2 312,812312.8k $16.1m $16.1m 0.02% Added +14.9k +14,860
64 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 311,296311.3k $16.0m $16.0m 0.00% Reduced -73.2k -73,230
65 JACOBS LEVY EQUITY MANAGEMENT, INC 0.06% of their portfolio FLORHAM PARK, NJ 308,977309.0k $15.9m $15.9m 0.06% Reduced -130.2k -130,242
66 BARCLAYS PLC 0.01% of their portfolio LONDON, X0 304,827304.8k $15.7m $15.7m 0.01% Added +173.1k +173,057
67 KENNEDY CAPITAL MANAGEMENT LLC 0.34% of their portfolio ST LOUIS, MO 301,067301.1k $15.5m $15.5m 0.34% Added +188.7k +188,679
68 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 299,082299.1k $15.4m $15.4m 0.00% Added +5.3k +5,252
69 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 276,456276.5k $14.2m $14.2m 0.00% Reduced -1.1m -1,148,244
70 ADAGE CAPITAL PARTNERS GP, L.L.C. 0.02% of their portfolio Boston, MA 274,756274.8k $14.1m $14.1m 0.02% Added +162.7k +162,661
71 VIRGINIA RETIREMENT SYSTEMS ET Al 0.09% of their portfolio RICHMOND, VA 272,190272.2k $14.0m $14.0m 0.09% Reduced -65.2k -65,200
72 Verition Fund Management LLC 0.08% of their portfolio GREENWICH, CT 264,966265.0k $13.6m $13.6m 0.08% Added +28.4k +28,371
73 Asset Management One Co., Ltd. 0.04% of their portfolio TOKYO, M0 263,361263.4k $13.6m $13.6m 0.04% Reduced -221 -221
74 Swiss National Bank 0.01% of their portfolio ZURICH, V8 256,700256.7k $13.2m $13.2m 0.01% Added +3.8k +3,800
75 California Public Employees Retirement System 0.01% of their portfolio Sacramento, CA 243,402243.4k $12.5m $12.5m 0.01% Added +11.6k +11,646
76 STRS OHIO 0.05% of their portfolio COLUMBUS, OH 241,761241.8k $12.4m $12.4m 0.05% Added +54.0k +54,001
77 NFJ INVESTMENT GROUP, LLC 0.42% of their portfolio DALLAS, TX 239,466239.5k $12.3m $12.3m 0.42% Reduced -3.9k -3,856
78 PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.04% of their portfolio COLUMBUS, OH 238,579238.6k $12.3m $12.3m 0.04% Reduced -793 -793
79 State of Alaska, Department of Revenue 0.12% of their portfolio JUNEAU, AK 235,262235.3k $12.1m $12.1m 0.12% Reduced -603 -603
80 Edgestream Partners, L.P. 0.35% of their portfolio Princeton, NJ 230,380230.4k $11.9m $11.9m 0.35% Reduced -50.4k -50,442
81 VOYA INVESTMENT MANAGEMENT LLC 0.01% of their portfolio ATLANTA, GA 215,014215.0k $11.1m $11.1m 0.01% Reduced -79.6k -79,559
82 Susquehanna Portfolio Strategies, LLC 0.17% of their portfolio Bala Cynwyd, PA 212,206212.2k $10.9m $10.9m 0.17% Added +101.1k +101,064
83 NOMURA ASSET MANAGEMENT CO LTD 0.03% of their portfolio TOKYO, M0 199,072199.1k $10.2m $10.2m 0.03% Added +5.4k +5,360
84 Universal- Beteiligungs- und Servicegesellschaft mbH 0.02% of their portfolio FRANKFURT AM MAIN, 2M 194,795194.8k $10.0m $10.0m 0.02% Added +34.7k +34,655
85 RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio NEW YORK, NY 186,100186.1k $9.6m $9.6m 0.01% Reduced -18.0k -18,000
86 HSBC HOLDINGS PLC 0.01% of their portfolio LONDON, X0 184,970185.0k $9.5m $9.5m 0.01% Added +61.3k +61,310
87 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 175,005175.0k $9.0m $9.0m 0.00% Reduced -173.0k -172,958
88 STATE OF WISCONSIN INVESTMENT BOARD 0.02% of their portfolio MADISON, WI 170,516170.5k $8.8m $8.8m 0.02% Reduced -645 -645
89 SUN LIFE FINANCIAL INC 0.42% of their portfolio Toronto, A6 160,142160.1k $8.2m $8.2m 0.42% Unchanged
90 Retirement Systems of Alabama 0.03% of their portfolio MONTGOMERY, AL 160,085160.1k $8.2m $8.2m 0.03% Reduced -1.7k -1,735
91 SEI INVESTMENTS CO 0.01% of their portfolio OAKS, PA 154,258154.3k $7.9m $7.9m 0.01% Added +2.2k +2,179
92 Sterling Capital Management LLC 0.11% of their portfolio CHARLOTTE, NC 149,253149.3k $7.7m $7.7m 0.11% Added +1.9k +1,901
93 JANUS HENDERSON GROUP PLC 0.00% of their portfolio LONDON, X0 145,629145.6k $7.5m $7.5m 0.00% Reduced -750.4k -750,406
94 Sophron Capital Management L.P. 2.26% of their portfolio SUMMIT, NJ 142,532142.5k $7.3m $7.3m 2.26% Reduced -33.3k -33,284
95 Jain Global LLC 0.09% of their portfolio NEW YORK, NY 141,143141.1k $7.3m $7.3m 0.09% New
96 GSI Capital Advisors LLC 4.10% of their portfolio Newport Beach, CA 140,909140.9k $7.3m $7.3m 4.10% Reduced -11.8k -11,772
97 IEQ CAPITAL, LLC 0.02% of their portfolio Foster City, CA 133,477133.5k $6.9m $6.9m 0.02% Reduced -49.9k -49,919
98 APG Asset Management US Inc. 0.05% of their portfolio New York, NY 132,600132.6k $6.9m $6.9m 0.05% New
99 LIBERTY ONE INVESTMENT MANAGEMENT, LLC 0.37% of their portfolio LIBERTYVILLE, IL 127,936127.9k $6.6m $6.6m 0.37% Added +30.3k +30,289
100 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio WEST SACRAMENTO, CA 126,277126.3k $6.5m $6.5m 0.01% Added +6 +6