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Funds (13F)

Land & Buildings Investment Management, LLC

Backtest from 16 Aug 2013 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+9.1%
S&P 500 +14.1%
Last 12 months
+17.5%
S&P 500 +12.1%
Sharpe ratio
0.41
S&P 500 0.78
Biggest drop
−49.1%
S&P 500 −31.8%
$10.0k$20.0k$40.0k 2013201520172019202120232025 $57.0k$31.7k
StrategyS&P 500 $10,000 in Land & Buildings Investment Management, LLC from 16 Aug 2013 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies Land & Buildings Investment Management, LLC's quarterly 13F holdings in the companies we cover, weighted by reported value: it buys on the first trading day after each 13F is filed (up to 45 days after the quarter) and holds until the next filing. A 13F shows long US-listed positions only, at the quarter's end, so this misses shorts, cash, bonds, non-US holdings and trading within the quarter.

Land & Buildings Investment Management, LLC's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+9.1%+14.1%
Total return+217%+470%
Last 12 months+17.5%+12.1%
Last 3 months−6.0%—
Last month+3.9%—
This year so far+10.5%—
Volatility a year23.6%16.0%
Sharpe ratio0.410.78
Biggest drop−49.1%−31.8%
Beta to the S&P 5001.111.00
Alpha a year (t-statistic)−4.2% (−0.98)—
Share of weeks up56%—

Sharpe ratio uses returns above the 3-month Treasury bill rate. Alpha is the yearly return left after allowing for the strategy's exposure to the S&P 500 (CAPM); a t-statistic below about 2 means it cannot be told apart from luck.

Insights

CompanyWeightHeld sinceReturn since
AHR9.8%——
SPG8.3%——
FR8.2%——
BXDC8.1%——
VTR8.0%——
INVH7.3%——
SUI6.4%——
CURB5.7%——
EQIX5.6%——
SKT5.4%——
CBRE4.3%——
DLR4.2%——
OUT4.1%——
MAR3.8%——
LAMR3.3%——
RHP3.2%——
DHI3.2%——
VICI0.9%——
DEI0.3%——

Weighted by reported value in the latest 13F, held until the next filing.

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest16 Aug 2013 to 2 Nov 2026+9.1%+14.1%0.410.78−49.1%1.11−4.2% (−0.98)
2018 onwards5 Jan 2018 to 2 Nov 2026+6.0%+13.9%0.250.66−49.1%1.11−6.6% (−1.18)
Last three years3 Nov 2023 to 2 Nov 2026+17.1%+21.8%0.851.16−11.9%0.52+4.0% (0.54)
Last year7 Nov 2025 to 2 Nov 2026+14.1%+14.2%0.750.84−11.2%0.28+7.2% (0.55)
DateCompanyAction
21 Aug 2026VICIBought
21 Aug 2026DHIBought
21 Aug 2026DEIBought
21 Aug 2026BXDCBought
22 May 2026SBACBought
22 May 2026LAMRBought
22 May 2026INVHBought
22 May 2026DLRBought
20 Feb 2026CURBBought
21 Nov 2025UDRBought
21 Nov 2025PLDBought
21 Nov 2025FUNBought
21 Nov 2025ESRTBought
21 Nov 2025CCIBought
15 Aug 2025RHPBought
15 Aug 2025REXRBought
15 Aug 2025GLPIBought
15 Aug 2025DHIBought
15 Aug 2025CSRBought
16 May 2025OUTBought
16 May 2025EXRBought
16 May 2025ELMEBought
21 Feb 2025VMRKBought
21 Feb 2025DLRBought
21 Feb 2025AMHBought

Dated at the rebalance that made the change.

DateCompanyAction
21 Aug 2026SBACSold
21 Aug 2026PLDSold
21 Aug 2026NHISold
21 Aug 2026GLPISold
21 Aug 2026FUNSold
22 May 2026CSRSold
22 May 2026AMHSold
20 Feb 2026UDRSold
20 Feb 2026EXRSold
20 Feb 2026ESRTSold
20 Feb 2026CCISold
21 Nov 2025VMRKSold
21 Nov 2025REXRSold
21 Nov 2025KRGSold
21 Nov 2025DHISold
21 Nov 2025AMTSold
15 Aug 2025VICISold
15 Aug 2025SMRTSold
15 Aug 2025ELMESold
15 Aug 2025AIVSold
16 May 2025XHRSold
16 May 2025DLRSold
21 Feb 2025UDRSold
21 Feb 2025INVHSold

Dated at the rebalance that made the change.

Backtests are hypothetical and use today's listed companies only, which flatters results. Past performance does not predict future returns. This is research, not investment advice. How we backtest