Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

FIRST INDL RLTY TR INC (FR)

426 + Investors. Track Smart Money conviction in FR. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +38
Streak
1Q ▲
Buyers last Q
58%

Smart Money Signals — FR

Based on 422 hedge funds · latest filing: 2025 Q4 · updated quarterly

📈

Buying streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds added FR than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🏔️

At the ownership peak (100% of max)

100% of all-time peak
422 hedge funds hold FR right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
📶

Steady growth — +9% more funds vs a year ago

fund count last 6Q
+34 new funds entered over the past year (+9% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡

Slight buying edge — 58% buying

235 buying171 selling
Last quarter: 235 funds bought or added vs 171 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
📈

More new buyers each quarter (+29 vs last Q)

new funds entering per quarter
Funds opening a new FR position: 65 → 54 → 47 → 76. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒

65% of holders stayed for 2+ years

■ 65% conviction (2yr+) ■ 16% medium ■ 19% new
273 out of 422 hedge funds have held FR for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💰

Value +35% but shares only +13% — price-driven

Value
+34%
Shares
+13%
Last quarter: the total dollar value of institutional holdings rose +35%, but actual share count only changed +13%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
➡️

Steady discovery — ~76 new funds/quarter

53 → 65 → 54 → 47 → 76 new funds/Q
New funds entering each quarter: 65 → 54 → 47 → 76. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️

Deep conviction — 66% of holders stayed 2+ years

■ 66% veterans ■ 10% 1-2yr ■ 23% new
Of 426 current holders: 283 (66%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
🏆

Elite ownership — 54% AUM from top-100 funds

54% from top-100 AUM funds
41 of 422 holders are among the 100 largest funds by AUM, controlling 54% of total institutional value in FR. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
3.5
out of 10
Low Exit Risk
Exit risk score 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Hedge Fund Ownership: FR

How many hedge funds hold FR — quarterly history vs. share price
Quarterly hedge fund ownership of FR vs. share price

Market Analysis: FR

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: FR

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Smart Money Signal ?
Broad Consensus, Selective Conviction

Many quality funds hold this stock, but top-tier positions remain relatively small.

62 top-rated funds 1 high-conviction
Consensus
7.8
/ 10
breadth
×
Elite
1.8
/ 10
conviction
Hedge Fund Positioning: FR
2026 Q1 Stats Unlock in 9 days 426 + Investors

Track Smart Money conviction in FR. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2025 Q4) Prior (2025 Q3) Change
Funds Holding 426 385 10.65%
13F Shares 142M 126M 13.03%
Total Value $8.71B $6.46B 34.94%
New Positions 77 47 +30
Increased Positions 163 143 +20
Closed Positions 38 59 -21
Reduced Positions 134 148 -14
Total Calls 4 1 300.0%
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: FR

View More

Valuation Measures Data as of: --

Market Cap --
Enterprise Value --
Trailing P/E --
Forward P/E --
PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
Levered Free Cash Flow (ttm) --

Institutional Holders (2026 Q1)

426 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in FR. Verified SEC 13F-HR filings.

Top 25 institutional holders of FR — 2025 Q4 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 CENTERSQUARE INVESTMENT MANAGEMENT LLC 2.58% 4,307,567 $249.2M
2 DELPHI MANAGEMENT INC /MA/ 1.48% 21,333 $1K
3 DUFF & PHELPS INVESTMENT MANAGEMENT CO 1.32% 2,195,608 $127.0M
4 EASTERLY INVESTMENT PARTNERS LLC 0.95% 216,945 $12.5M
5 Artemis Investment Management LLP 0.73% 1,186,294 $68.6M
6 Castellan Group 0.63% 79,219 $4.6M
7 Friedenthal Financial 0.49% 16,939 $980K
8 BANK OF STOCKTON 0.47% 26,205 $1.5M
9 First National Advisers, LLC 0.30% 35,569 $2.1M
10 THRIVENT FINANCIAL FOR LUTHERANS 0.24% 2,151,234 $124K
11 Convergence Investment Partners, LLC 0.22% 23,635 $1.4M
12 Boston Common Asset Management, LLC 0.19% 52,051 $3.0M
13 Clear Point Advisors Inc. 0.16% 3,439 $212K
14 Cetera Trust Company, N.A 0.15% 4,620 $267K
15 State of Alaska, Department of Revenue 0.15% 235,462 $14K
16 OVERSEA-CHINESE BANKING Corp Ltd 0.14% 91,780 $5.3M
17 Sterling Capital Management LLC 0.14% 130,300 $7.5M
18 Oak Thistle LLC 0.14% 25,007 $1.4M
19 Alberta Investment Management Corp 0.14% 393,302 $22.8M
20 Inscription Capital, LLC 0.13% 21,300 $1.2M
21 AlphaQuest LLC 0.12% 37,860 $2.2M
22 FORTEM FINANCIAL GROUP, LLC 0.12% 8,205 $475K
23 STRS OHIO 0.11% 464,562 $26.9M
24 HANOVER ADVISORS INC 0.09% 3,942 $228K
25 Kera Capital Partners, Inc. 0.09% 12,561 $727K
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — FIRST INDL RLTY TR INC (FR)

What does the Smart Money Trend signal show for FR?

Buying streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds added FR than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for FR?

Slight buying edge — 58% buying: Last quarter: 235 funds bought or added vs 171 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for FR holders?

Elite ownership — 54% AUM from top-100 funds: 41 of 422 holders are among the 100 largest funds by AUM, controlling 54% of total institutional value in FR. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held FR?

65% of holders stayed for 2+ years: 273 out of 422 hedge funds have held FR for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.