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First Industrial Realty Trust (FR): which funds own it

Real Estate →Data as of Jun 30, 2026 (Q2 2026) · updated on Nov 5, 2026

A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.

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Sections with a free account

7 concentrated managers hold it; combined they have held more shares for 5 quarters in a row (2 added, 3 trimmed). Its median weight in those portfolios is 2.3%.

Who owns First Industrial Realty Trust?

Holders that filed a Schedule 13D or 13G with the SEC for owning more than 5% of the shares: BlackRock (13G/A filed Apr 30, 2025), Vanguard Portfolio Management (13G filed Apr 29, 2026), Vanguard Capital Management (13G filed Apr 29, 2026) and State Street (13G filed Nov 10, 2025). As of Jun 30, 2026, the largest holders reported on Form 13F were BlackRock (16.7 million shares), Vanguard Portfolio Management (12.7 million shares) and State Street (6.3 million shares).

Which institutions hold the most First Industrial Realty Trust shares?

Per Form 13F filings as of Jun 30, 2026:

  1. 1. BlackRock: 16.7 million shares
  2. 2. Vanguard Portfolio Management: 12.7 million shares
  3. 3. State Street: 6.3 million shares
  4. 4. Vanguard Capital Management: 6.0 million shares
  5. 5. Norges Bank: 5.5 million shares
  6. 6. Centersquare Investment Management: 4.9 million shares
  7. 7. Geode Capital Management: 2.9 million shares
  8. 8. Cohen & Steers: 2.7 million shares
  9. 9. Prudential Financial: 2.6 million shares
  10. 10. Charles Schwab Investment Management: 2.6 million shares

Sources:13G/A by BlackRock (Apr 30, 2025) ↗13G by Vanguard Portfolio Management (Apr 29, 2026) ↗13G by Vanguard Capital Management (Apr 29, 2026) ↗13G by State Street (Nov 10, 2025) ↗All of the company's proxy statements on EDGAR ↗

We hold 13D and 13G filings made since Dec 23, 2024: a holder above 5% that has not filed since then does not appear here.

First Industrial Realty Trust revenue

First Industrial Realty Trust reported annual revenue of $727.1 million for fiscal year 2025 (year ended December 31, 2025), according to its Form 10-K filed with the SEC (XBRL data).

Concentrated managers
7
All 13F: 492
Consensus
72/100
across 7 concentrated managersRanks by accumulation, portfolio weight and number of managers; it does not say more are buying than selling.
Price at Jun 30, 2026 (per 13F)
$61.31
+6.0% in the quarter · reported value ÷ shares, not the quote · See current quote ↗

Quarter flow (concentrated managers)

Change in managers (7 → 7): 1 opened · 1 exited = 0

Net flow in the quarter: +$12.6M (+206 K shares) · bought $47.1M and sold $34.4MShares concentrated managers added minus those they cut, valued at the 13F quarter-end implied price, not each trade's price. It is a different measure from the change in managers: the two can have opposite signs.

Accumulation: combined they have held more shares for 5 quarters in a row (2 added, 3 trimmed). It is the combined share count of those still holding it: one large buyer can outweigh many who trimmed.

The set of concentrated managers changed between quarters: with the set as it was then, 8 held it last quarter (the chart point); with today's set, 7 (the base for the change).

Concentrated managers holding it

Up to 15, sorted by position value. The percentage is the weight in each manager's portfolio.

Other relevant holders

Filers with $100M or more in the stock that do not count as concentrated managers because of their type: they are left out of the counts, the consensus and the accumulation.

Largest holders of FR (all 13F filers)

The 10 13F filers with the most shares as of Jun 30, 2026, whatever their type (index firms usually come first). “Change”: shares added or cut versus the previous quarter, split-adjusted; “no data” = there is no comparable portfolio for the previous quarter (no filing, or a filing with its holdings under confidential treatment). “% of the company” only where shares outstanding are up to date. Entities of the same group file separately and some 13F filings include other managers: there may be double counting. With a free account: the top 25, the largest buyers and the largest sellers.

Fundamentals

12-month figures to Jun 30, 2026 · balance sheet as of Jun 30, 2026.

Profitability
Operating margin
—
Net margin
48.0%
ROE
13.1%
Growth
Revenue (TTM)
$760M
Revenue growth
8.4%
Net income (TTM)
$364M
Balance sheet
Net debt / EBITDA
—
Free cash flow (TTM)
—
Quality vs sector
69/100

Figures from the statements the company filed with the SEC (10-K, 10-Q). Free cash flow = operating cash flow − capital expenditures; empty if the company does not report capex. “Quality vs sector”: 0 to 100, the average of its percentiles in ROE, operating margin, free-cash-flow margin, revenue and earnings growth and net debt / EBITDA (at least 3 needed) against companies in its sector above $300M. How each figure is calculated

Shares outstanding: buybacks and dilution

Diluted shares by fiscal year (split-adjusted)

2025: 132.5 M

132.5 M0
20162025
1 year
+0.1%
3 years
+0.3%
5 years
+3.6%
Buybacks (FY 2025)
no data
Share issuance
no data
Stock-based compensation
$20.3M2.8% of revenue
Dividends paid
$231M

From the statements the company filed with the SEC (10-K). The change compares average diluted shares of each fiscal year, on today's basis: negative = it bought back more than it issued; positive = dilution. “No data” = the company does not report that item under a tag we can read; it does not mean zero.

Earnings quality and debt

Operating cash flow ÷ net income (12 months)
1.23
Debt due within 12 months
no data
Debt maturities by year (note as of Jun 30, 2026)
  • Year 1$184K
  • Year 2$131M
  • Year 3$390M
  • Year 4$723M
  • Year 5$675M
  • Later$661M

From the figures the company filed with the SEC. Cash flow over net income near or above 1 means earnings are collected in cash; far below, that part is accounting. Coverage says how many times operating income pays the latest fiscal year's interest. Maturities come from the debt note of the latest annual report, counted from its closing date. “No data” never means zero.

Insiders (Form 4)

Officers and directors who bought (6 m)
0
Amount (6 m)
$0
CEO/CFO bought (12 m)
No

10% owners who bought (6 m): 0

Open-market purchases, excluding 10b5-1 plans. Officers and directors only; joint filers of the same purchase count as one. 10% owners with no role are shown separately. 0 = nobody bought; “no data” = we do not have its Form 4 filings.

Each of the company's Form 4 filings, on EDGAR ↗Latest trades, with date and filing →

Above 5% (13D/13G)

Disclosed stakes, with their amendments. A filing is not always a purchase: there are also reductions and changes of filing entity.

This list may be incomplete: we hold 13D and 13G filings made since Dec 23, 2024. A holder above 5% that has not filed anything since then is not shown here.

Above 5% over time (13D/13G)

Each holder with its filings in order. History since December 2024.

Flagged material events (8-K)

  • Aug 18, 2026Routinefiling ↗

    Change in directors or officers (Item 5.02)

  • Mar 27, 2026Routinefiling ↗

    Change in directors or officers (Item 5.02)

  • Mar 17, 2026Routinefiling ↗

    Change in directors or officers (Item 5.02)

    «Frank E. Schmitz to Board of Directors»

Alert items the company itself flagged in its 8-K filings with the SEC, most serious first. It is the form's label, with no interpretation from us: Item 5.02 covers routine appointments as well as a chief executive's departure; open the filing. The quoted headline is the original press release's.

All material events (8-K)

Earnings, agreements, financing, management changes and announcements from the last year, with a filter by type and a link to each filing.

Other Real Estate stocks in managers' portfolios

Same sector and a similar number of concentrated managers holding them. It is a list to keep exploring, not a recommendation.

All of Real Estate →

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