GRS Advisors, LLC

CIK 0001544554 · Q2 2026

13F Equity AUM

$1.2B

+17.1% QoQ

Positions

-5 QoQ

AUM Rank

#3,076

Top 25%

Skill Alpha (FF)

-3.3%/yr^ns

No Clear Edge

Rank #7,045 · Top 85%

vs S&P -4.6%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 34.2%Top 10: 59.7%Top 20: 93.3%

CTRE8.0%

AMT7.5%

CBRE6.3%

AHR6.2%

CURB6.2%

CDP5.9%

SBAC5.5%

REXR5.2%

RHP4.6%

BNLEUR4.2%

Others (17)40.3%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Real Estate80.6%

Consumer Cyclical9.7%

Financials4.2%

Consumer Discretionary3.4%

Industrials2.1%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 27Median: 3.50%Avg: 3.70%

0–0.5%

4(0.8%)

0.5–1%

0(0.0%)

1–3%

5(11.7%)

3–5%

10(36.6%)

5%+

8(50.9%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 27vs 20 funds

0%Low

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New6Increased11Decreased8Exited11

New Positions

AMT7.5%

+544K

REXR5.2%

+1.8M

MHO3.5%

+258K

WD5A3.4%

+526K

IRT3.2%

+2.3M

HIW2.0%

+801K

Increased

CTRE8.0%

+1.0M(+78%)

CURB6.2%

+776K(+47%)

MTH3.3%

+436K(+1938%)

RHP4.6%

+399K(+1605%)

AHR6.2%

+388K(+38%)

CBRE6.3%

+292K(+110%)

CDP5.9%

+281K(+17%)

SKT3.2%

+262K(+38%)

SBAC5.5%

+169K(+85%)

NTST4.1%

+48K(+2%)

Decreased

FRT0.2%

-671,295(-98%)

PRSU2.1%

-470,787(-52%)

BNLEUR4.2%

-242,957(-9%)

LINE2.9%

-170,326(-18%)

H3.0%

-62,991(-26%)

WELL1.7%

-55,038(-38%)

CUBE0.2%

-31,196(-31%)

EQIX3.6%

-4,262(-10%)

Exited

PLD

-621,204

-753,625

-624,771

-1,764,460

-1,985,984

-475,344

-815,632

JANUS LIVING INC

-212,217

8CW

-46,938

MTN

-14,977

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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