WELLTOWER INC WELL
COM · REIT · CUSIP 95040Q104 · ISIN US95040Q1040
Real estate investment trust
- SectorReal estate
- IndustryReal Estate Investment Trusts
- HeadquartersToledo, OH
- Founded1970
- Websitewelltower.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 ($298.6m this quarter). Holder counts are more reliable. Shares outstanding: 686.3m as of 2025-10-24, 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 ≈ $178.05. Options: 25 managers hold calls ($256.5m notional), 24 hold puts ($224.5m).
Trends to Q3 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 784 |
| Q4 2022 | 797 |
| Q1 2023 | 774 |
| Q2 2023 | 813 |
| Q3 2023 | 828 |
| Q4 2023 | 935 |
| Q1 2024 | 961 |
| Q2 2024 | 1,001 |
| Q3 2024 | 1,063 |
| Q4 2024 | 1,129 |
| Q1 2025 | 1,237 |
| Q2 2025 | 1,267 |
| Q3 2025 | 1,336 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2023 | 480 | 305 |
| Q1 2024 | 477 | 377 |
| Q2 2024 | 549 | 355 |
| Q3 2024 | 528 | 417 |
| Q4 2024 | 550 | 399 |
| Q1 2025 | 700 | 403 |
| Q2 2025 | 701 | 442 |
| Q3 2025 | 747 | 438 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2024 | $154.8m | $258.4m | 1.67 |
| Q1 2025 | $279.4m | $190.6m | 0.68 |
| Q2 2025 | $212.9m | $229.2m | 1.08 |
| Q3 2025 | $256.5m | $224.5m | 0.88 |
Biggest buyers
| JPMORGAN CHASE & CO | Added | +7.7m |
| VANGUARD GROUP INC | Added | +4.0m |
| PRICE T ROWE ASSOCIATES INC /MD/ | Added | +2.9m |
| BlackRock, Inc. | Added | +2.9m |
| Capital World Investors | Added | +2.7m |
| Capital International Investors | Added | +1.8m |
| STATE STREET CORP | Added | +1.6m |
| FMR LLC | Added | +1.6m |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +1.2m |
| UBS Group AG | Added | +1.2m |
Biggest sellers
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Reduced | -9.7m |
| COHEN & STEERS, INC. | Reduced | -1.6m |
| Resolution Capital Ltd | Reduced | -881.5k |
| Balyasny Asset Management L.P. | Reduced | -863.6k |
| CITADEL ADVISORS LLC | Reduced | -726.1k |
| HRT FINANCIAL LP | Sold out | -712.9k |
| ROYAL BANK OF CANADA | Reduced | -707.7k |
| Qube Research & Technologies Ltd | Reduced | -649.0k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | -616.1k |
| Legal & General Group Plc | Reduced | -576.3k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $90.7m509.2k shares |
| CITADEL ADVISORS LLC | Added | $37.7m211.4k shares |
| ROYAL BANK OF CANADA | Reduced | $30.3m170.0k shares |
| IMC-Chicago, LLC | Added | $22.7m127.5k shares |
| JANE STREET GROUP, LLC | Added | $12.3m68.8k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $8.9m50.0k shares |
| Caption Management, LLC | Reduced | $7.3m40.7k shares |
| CAPITAL FUND MANAGEMENT S.A. | Reduced | $7.1m39.6k shares |
| Delta Accumulation, LLC | Unchanged | $6.7m2.8k shares |
| WOLVERINE TRADING, LLC | Added | $6.1m34.7k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $62.0m348.0k shares |
| JANE STREET GROUP, LLC | Added | $30.5m171.4k shares |
| Flat Footed LLC | Reduced | $29.4m165.0k shares |
| CITADEL ADVISORS LLC | Reduced | $27.7m155.7k shares |
| Walleye Trading LLC | Added | $13.3m74.9k shares |
| Squarepoint Ops LLC | Reduced | $13.1m73.4k shares |
| GOLDMAN SACHS GROUP INC | Added | $9.7m54.5k shares |
| Caption Management, LLC | Reduced | $7.3m40.7k shares |
| Delta Accumulation, LLC | Unchanged | $7.1m2.8k shares |
| CAPITAL FUND MANAGEMENT S.A. | Reduced | $4.6m25.6k 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 filed 2025-04-24 | 9.5% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 7.5% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 6.0% |
Fell to 5% or below in the last year: COHEN & STEERS, INC. (4.9%, 2026-08-07), VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD CAPITAL 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.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2023 | 0 | — | 0 | — | — |
| Q1 2024 | 0 | — | 0 | — | — |
| Q2 2024 | 0 | — | 2 | $792.8k | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 0 | — | 1 | $286.4k | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 1 | $3.0m | 0 | — | — |
| Q3 2025 | 0 | — | 0 | — | — |
None reported in Q3 2025.
Holders, Q3 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.24% of their portfolio | 89.8m $16.0bn | Added +4.0m |
| BlackRock, Inc. 0.22% of their portfolio | 69.4m $12.4bn | Added +2.9m |
| Capital International Investors 1.34% of their portfolio | 46.5m $8.3bn | Added +1.8m |
| STATE STREET CORP 0.25% of their portfolio | 41.3m $7.3bn | Added +1.6m |
| COHEN & STEERS, INC. 10.79% of their portfolio | 33.6m $6.0bn | Reduced -1.6m |
| WELLINGTON MANAGEMENT GROUP LLP 0.62% of their portfolio | 20.0m $3.6bn | Reduced -151.0k |
| FMR LLC 0.18% of their portfolio | 19.9m $3.5bn | Added +1.6m |
| BANK OF AMERICA CORP /DE/ 0.26% of their portfolio | 19.4m $3.5bn | Added +367.5k |
| GEODE CAPITAL MANAGEMENT, LLC 0.18% of their portfolio | 16.2m $2.9bn | Added +1.2m |
| JPMORGAN CHASE & CO 0.09% of their portfolio | 15.6m $2.8bn | Added +7.7m |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.29% of their portfolio | 15.1m $2.7bn | Added +2.9m |
| PRINCIPAL FINANCIAL GROUP INC 0.92% of their portfolio | 10.2m $1.8bn | Reduced -249.6k |
| MORGAN STANLEY 0.10% of their portfolio | 9.6m $1.7bn | Added +782.1k |
| NORTHERN TRUST CORP 0.21% of their portfolio | 9.1m $1.6bn | Added +282.9k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.23% of their portfolio | 8.0m $1.4bn | Added +654.3k |
| DIMENSIONAL FUND ADVISORS LP 0.28% of their portfolio | 7.4m $1.3bn | Added +210.6k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 1.15% of their portfolio | 7.2m $1.3bn | Added +763.2k |
| Invesco Ltd. 0.20% of their portfolio | 7.0m $1.2bn | Reduced -289.6k |
| Legal & General Group Plc 0.27% of their portfolio | 6.7m $1.2bn | Reduced -576.3k |
| GOLDMAN SACHS GROUP INC 0.16% of their portfolio | 6.1m $1.1bn | Reduced -62.4k |
| CENTERSQUARE INVESTMENT MANAGEMENT LLC 9.41% of their portfolio | 5.3m $936.5m | Added +259.0k |
| Nuveen, LLC 0.24% of their portfolio | 5.1m $903.8m | Reduced -49.1k |
| Daiwa Securities Group Inc. 2.95% of their portfolio | 4.9m $874.2m | Reduced -444.1k |
| DEUTSCHE BANK AG\ 0.28% of their portfolio | 4.7m $845.6m | Added +47.7k |
| Capital World Investors 0.10% of their portfolio | 4.2m $756.6m | Added +2.7m |
| Resolution Capital Ltd 14.57% of their portfolio | 4.2m $748.7m | Reduced -881.5k |
| Amundi 0.23% of their portfolio | 4.1m $722.1m | Added +82.0k |
| Bank of New York Mellon Corp 0.13% of their portfolio | 4.0m $714.9m | Reduced -3.0k |
| Russell Investments Group, Ltd. 0.68% of their portfolio | 3.4m $602.3m | Reduced -3.8k |
| UBS Group AG 0.11% of their portfolio | 3.3m $584.0m | Added +1.2m |
| Sumitomo Mitsui Trust Group, Inc. 0.32% of their portfolio | 3.2m $564.6m | Reduced -101.1k |
| PRUDENTIAL FINANCIAL INC 0.66% of their portfolio | 3.1m $553.6m | Added +333.6k |
| CBRE INVESTMENT MANAGEMENT LISTED REAL ASSETS LLC 7.73% of their portfolio | 3.0m $542.2m | Reduced -227.5k |
| PGGM Investments 8.07% of their portfolio | 2.8m $498.9m | Added +138.7k |
| AMERIPRISE FINANCIAL INC 0.11% of their portfolio | 2.8m $485.9m | Reduced -86.0k |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO 5.06% of their portfolio | 2.5m $446.1m | Reduced -5.6k |
| HSBC HOLDINGS PLC 0.25% of their portfolio | 2.4m $420.6m | Added +252.3k |
| SEI INVESTMENTS CO 0.44% of their portfolio | 2.3m $410.9m | Reduced -217.7k |
| GROUPAMA ASSET MANAGMENT 0.04% of their portfolio | 1.9m $2.8m | Unchanged |
| Swiss National Bank 0.19% of their portfolio | 1.9m $335.8m | Reduced -77.8k |
| BARCLAYS PLC 0.12% of their portfolio | 1.8m $325.8m | Added +210.1k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.23% of their portfolio | 1.8m $325.3m | Added +171.2k |
| Qube Research & Technologies Ltd 0.46% of their portfolio | 1.8m $323.7m | Reduced -649.0k |
| D. E. Shaw & Co., Inc. 0.26% of their portfolio | 1.8m $318.6m | Added +720.1k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.24% of their portfolio | 1.7m $307.7m | Added +196.7k |
| NORDEA INVESTMENT MANAGEMENT AB 0.27% of their portfolio | 1.7m $307.1m | Added +124.1k |
| Aberdeen Group plc 0.49% of their portfolio | 1.7m $306.9m | Added +145.1k |
| National Pension Service 0.23% of their portfolio | 1.7m $301.4m | Added +34.5k |
| MACQUARIE GROUP LTD 0.35% of their portfolio | 1.7m $301.1m | Reduced -64.0k |
| California Public Employees Retirement System 0.18% of their portfolio | 1.7m $297.7m | Reduced -78.7k |
| CANADA LIFE ASSURANCE Co 0.42% of their portfolio | 1.7m $292.9m | Added +184.4k |
| APG Asset Management US Inc. 2.11% of their portfolio | 1.6m $285.7m | Added +71.1k |
| VOYA INVESTMENT MANAGEMENT LLC 0.26% of their portfolio | 1.5m $264.8m | Reduced -153.2k |
| NOMURA ASSET MANAGEMENT CO LTD 0.63% of their portfolio | 1.4m $242.5m | Added +99.3k |
| Castle Hook Partners LP 3.51% of their portfolio | 1.3m $231.6m | Added +196.0k |
| ALLIANCEBERNSTEIN L.P. 0.07% of their portfolio | 1.3m $230.3m | Added +2.6k |
| RHUMBLINE ADVISERS 0.18% of their portfolio | 1.3m $228.5m | Reduced -18.0k |
| Asset Management One Co., Ltd. 0.65% of their portfolio | 1.3m $225.7m | Added +63.3k |
| AMERICAN CENTURY COMPANIES INC 0.11% of their portfolio | 1.2m $222.6m | Added +183.6k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.69% of their portfolio | 1.2m $216.1m | Added +60.6k |
| AEW CAPITAL MANAGEMENT L P 11.96% of their portfolio | 1.2m $214.7m | Reduced -78.2k |
| LASALLE INVESTMENT MANAGEMENT SECURITIES LLC 8.35% of their portfolio | 1.2m $212.6m | Reduced -229.2k |
| BAMCO INC /NY/ 0.56% of their portfolio | 1.2m $211.4m | Reduced -41.5k |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.35% of their portfolio | 1.2m $210.4m | Reduced -231.4k |
| WELLS FARGO & COMPANY/MN 0.04% of their portfolio | 1.1m $199.7m | Reduced -150.7k |
| Zimmer Partners, LP 4.82% of their portfolio | 1.1m $197.1m | Reduced -141.5k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.19% of their portfolio | 1.0m $184.4m | Added +16.4k |
| Adelante Capital Management LLC 11.67% of their portfolio | 979.4k $174.5m | Reduced -2.2k |
| Heitman Real Estate Securities LLC 11.91% of their portfolio | 978.6k $174.3m | Reduced -31.7k |
| KBC Group NV 0.41% of their portfolio | 966.5k $172.2m | Added +117.6k |
| Cardano Risk Management B.V. 1.71% of their portfolio | 901.5k $160.6m | Added +64.4k |
| AQR CAPITAL MANAGEMENT LLC 0.10% of their portfolio | 853.5k $151.1m | Added +416.9k |
| Allianz Asset Management GmbH 0.18% of their portfolio | 831.3k $148.1m | Added +60.0k |
| ROYAL BANK OF CANADA 0.03% of their portfolio | 813.5k $144.9m | Reduced -707.7k |
| RAYMOND JAMES FINANCIAL INC 0.05% of their portfolio | 806.8k $143.7m | Added +31.9k |
| Korea Investment CORP 0.29% of their portfolio | 800.5k $142.6m | Added +43.1k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.33% of their portfolio | 795.0k $141.6m | Reduced -43.6k |
| BNP PARIBAS FINANCIAL MARKETS 0.11% of their portfolio | 794.0k $141.4m | Added +262.4k |
| Pictet Asset Management Holding SA 0.14% of their portfolio | 793.1k $141.3m | Reduced -105.6k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.18% of their portfolio | 767.3k $136.7m | Reduced -26.8k |
| 1832 Asset Management L.P. 0.21% of their portfolio | 706.0k $125.8m | Added +492.8k |
| NEUBERGER BERMAN GROUP LLC 0.09% of their portfolio | 702.0k $125.1m | Reduced -76.4k |
| STRS OHIO 0.45% of their portfolio | 696.1k $124.0m | Reduced -73.4k |
| Swedbank AB 0.13% of their portfolio | 695.1k $123.8m | Added +28.8k |
| Capital International, Inc./CA/ 0.97% of their portfolio | 684.1k $121.9m | Added +156.0k |
| STOREBRAND ASSET MANAGEMENT AS 0.32% of their portfolio | 680.2k $121.2m | Added +122.5k |
| NATIXIS ADVISORS, LLC 0.18% of their portfolio | 675.3k $120.3m | Added +21.9k |
| JANUS HENDERSON GROUP PLC 0.05% of their portfolio | 641.5k $114.2m | Added +73.3k |
| CITIGROUP INC 0.08% of their portfolio | 630.5k $112.3m | Reduced -201.0k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.17% of their portfolio | 608.2k $108.3m | Added +39.2k |
| CONGRESS ASSET MANAGEMENT CO 0.70% of their portfolio | 588.6k $104.9m | Added +9.8k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.18% of their portfolio | 581.6k $103.6m | Reduced -12.1k |
| Alyeska Investment Group, L.P. 0.30% of their portfolio | 551.3k $98.2m | New |
| Sanctuary Advisors, LLC 0.27% of their portfolio | 545.9k $88.5m | Added +360.6k |
| AVIVA PLC 0.17% of their portfolio | 519.6k $92.6m | Added +34.6k |
| BANK OF MONTREAL /CAN/ 0.04% of their portfolio | 504.0k $89.8m | Added +78.4k |
| AXA Investment Managers S.A. 0.24% of their portfolio | 501.8k $89.4m | First filing |
| Mitsubishi UFJ Trust & Banking Corp 0.20% of their portfolio | 500.1k $89.1m | Reduced -2.8k |
| ENVESTNET ASSET MANAGEMENT INC 0.03% of their portfolio | 498.0k $88.7m | Added +1.9k |
| Retirement Systems of Alabama 0.29% of their portfolio | 496.3k $88.4m | Added +9.4k |