NORTHWOOD LIQUID MANAGEMENT LP

Portfolio Overview

NORTHWOOD LIQUID MANAGEMENT LP disclosed 22 positions worth $1.5B in its Form 13F-HR for Q1 2026, led by $ESS (ESSEX PROPERTY TRUST, INC.) at 13.1% of the equity portfolio, followed by $SBAC and $KRC. During the quarter the fund opened 9 new positions and exited 4 — including a new stake in $INVH and a full exit from $UDR. The portfolio is most concentrated in Real Estate (97.1% of disclosed assets). All figures are sourced directly from NORTHWOOD LIQUID MANAGEMENT LP’s Form 13F-HR filing with the SEC under CIK 1736465.

• 

  ESSEX PROPERTY TRUST, INC.

  $ESS

  59.3#926

  Quality

  $195.5M807,893 sh
• 

  SBA COMMUNICATIONS CORP

  $SBAC

  71.3#265

  Quality

  $168.4M978,390 sh
• 

  KILROY REALTY CORP

  $KRC

  67.8#449

  Quality

  $137.1M4,860,742 sh
• 

  NNN REIT, INC.

  $NNN

  67.9

  Quality

  $130.3M3,099,284 sh
• 

  Healthcare Realty Trust Inc

  $HR

  44.9

  Quality

  $122.8M7,225,362 sh
• 

  Ventas, Inc.

  $VTR

  70.3

  Quality

  $114.7M1,402,660 sh
• 

  Invitation Homes Inc.

  $INVH

  59.7

  Quality

  $105.3M4,237,107 sh
• 

  FIRST INDUSTRIAL REALTY TRUST INC

  $FR

  67.5

  Quality

  $101.5M1,754,344 sh
• 

  FEDERAL REALTY INVESTMENT TRUST

  $FRT

  69.5

  Quality

  $67.8M638,538 sh
• 

  INDEPENDENCE REALTY TRUST, INC.

  $IRT

  44.6

  Quality

  $51.5M3,456,162 sh

Company	Quality	Value	Shares
ESSEX PROPERTY TRUST, INC.$ESS	59.3#926	$195.5M	807,893
SBA COMMUNICATIONS CORP$SBAC	71.3#265	$168.4M	978,390
KILROY REALTY CORP$KRC	67.8#449	$137.1M	4,860,742
NNN REIT, INC.$NNN	67.9	$130.3M	3,099,284
Healthcare Realty Trust Inc$HR	44.9	$122.8M	7,225,362
Ventas, Inc.$VTR	70.3	$114.7M	1,402,660
Invitation Homes Inc.$INVH	59.7	$105.3M	4,237,107
FIRST INDUSTRIAL REALTY TRUST INC$FR	67.5	$101.5M	1,754,344
FEDERAL REALTY INVESTMENT TRUST$FRT	69.5	$67.8M	638,538
INDEPENDENCE REALTY TRUST, INC.$IRT	44.6	$51.5M	3,456,162

Showing top 10 of 22 holdings.

Full Holdings — NORTHWOOD LIQUID MANAGEMENT LP (Q1 2026)

All 22 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.

#	Ticker	Company	Value	Weight	QoQ	Quality
1	$ESS	ESSEX PROPERTY TRUST, INC.	$195.5M	13.1%	+27%	59.3
2	$SBAC	SBA COMMUNICATIONS CORP	$168.4M	11.3%	-17%	71.3
3	$KRC	KILROY REALTY CORP	$137.1M	9.2%	+85%	67.8
4	$NNN	NNN REIT, INC.	$130.3M	8.7%	-19%	67.9
5	$HR	Healthcare Realty Trust Inc	$122.8M	8.2%	-20%	44.9
6	$VTR	Ventas, Inc.	$114.7M	7.7%	-14%	70.3
7	$INVH	Invitation Homes Inc.	$105.3M	7.1%	NEW	59.7
8	$FR	FIRST INDUSTRIAL REALTY TRUST INC	$101.5M	6.8%	-16%	67.5
9	$FRT	FEDERAL REALTY INVESTMENT TRUST	$67.8M	4.5%	-50%	69.5
10	$IRT	INDEPENDENCE REALTY TRUST, INC.	$51.5M	3.5%	NEW	44.6
11	$ADC	AGREE REALTY CORP	$51.1M	3.4%	NEW	57.4
12	$EPRT	ESSENTIAL PROPERTIES REALTY TRUST, INC.	$37.9M	2.5%	NEW	70.1
13	$COLD	AMERICOLD REALTY TRUST	$35.5M	2.4%	+6%	37.1
14	$AKR	ACADIA REALTY TRUST	$32.3M	2.2%	-2%	70.3
15	$SBRA	Sabra Health Care REIT, Inc.	$30.7M	2.1%	NEW	73.5
16	$SITC	SITE Centers Corp.	$24.0M	1.6%	+11%	52.6
17	$CSGP	COSTAR GROUP, INC.	$19.5M	1.3%	NEW	49.5
18	$APLE	Apple Hospitality REIT, Inc.	$17.1M	1.1%	NEW	59.5
19	$CURB	Curbline Properties Corp.	$17.1M	1.1%	-14%	61.5
20	$FUN	Six Flags Entertainment Corporation/NEW	$16.5M	1.1%	-21%	23.5
21	$JAN	Janus Living, Inc.	$7.1M	0.5%	NEW	—
22	$SNDA	SONIDA SENIOR LIVING, INC.	$7.0M	0.5%	NEW	34.6