IIPR US Equity

INNOVATIVE INDUSTRIAL PROPERTIES INC

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Real Estate · Real Estate · CIK 1677576 · FYE 1231

$61.21

+0.64 (+1.06%)

USD · as of 2026-07-29 · marketstack

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Institutional ownership· 13F filers holding IIPR · 2026-Q1 methodology → sources →

300 holders

% of shares outstanding held

69.1%

Shares held (13F)

19,888,711

Reporting holders

300

Top holders

largest 100 of 300 · Δ vs 2025-Q4

#	Holder	Shares	Value	% of shares out	Δ QoQ
1	BlackRock, Inc.	4,781,5894.8M	$240M	16.62%	—
2	VANGUARD PORTFOLIO MANAGEMENT LLC	2,728,9892.7M	$137M	9.48%	NEW†
3	STATE STREET CORP	1,586,6741.6M	$83M	5.51%	—
4	VANGUARD CAPITAL MANAGEMENT LLC	1,242,1621.2M	$62M	4.32%	NEW†
5	CHARLES SCHWAB INVESTMENT MANAGEMENT INC	573,633573,633	$29M	1.99%	ADD 6%
6	GOLDMAN SACHS GROUP INC	541,919541,919	$27M	1.88%	ADD 6%
7	ARROWSTREET CAPITAL, LIMITED PARTNERSHIP	539,600539,600	$27M	1.88%	ADD 3423%
8	MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.	516,111516,111	$26M	1.79%	ADD 60%
9	Invesco Ltd.	496,077496,077	$25M	1.72%	—
10	Point72 Asset Management, L.P.	464,907464,907	$23M	1.62%	ADD 152%
11	NORTHERN TRUST CORP	380,287380,287	$19M	1.32%	ADD 8%
12	DIMENSIONAL FUND ADVISORS LP	366,811366,811	$18M	1.27%	ADD 5%
13	D. E. Shaw & Co., Inc.	362,714362,714	$18M	1.26%	TRIM -23%
14	AlphaCore Capital LLC	214,482214,482	$11M	0.75%	—
15	MORGAN STANLEY	207,274207,274	$10M	0.72%	TRIM -20%
16	Bank of New York Mellon Corp	191,314191,314	$10M	0.66%	—
17	PRINCIPAL FINANCIAL GROUP INC	183,835183,835	$9M	0.64%	—
18	VANGUARD FIDUCIARY TRUST CO	181,144181,144	$9M	0.63%	NEW
19	Legal & General Group Plc	178,476178,476	$9M	0.62%	TRIM -8%
20	Thrivent Financial for Lutherans	153,063153,063	$8M	0.53%	ADD 8%
21	JPMORGAN CHASE & CO	132,514132,514	$7M	0.46%	TRIM -20%
22	Pacer Advisors, Inc.	130,218130,218	$7M	0.45%	ADD 12%
23	LSV ASSET MANAGEMENT	106,200106,200	$5M	0.37%	TRIM -3%
24	FIRST TRUST ADVISORS LP	100,294100,294	$5M	0.35%	ADD 20%
25	Public Sector Pension Investment Board	100,241100,241	$5M	0.35%	ADD 3%
26	GEODE CAPITAL MANAGEMENT, LLC	98,12198,121	$5M	0.34%	ADD 28%
27	RHUMBLINE ADVISERS	89,16789,167	$4M	0.31%	ADD 5%
28	VICTORY CAPITAL MANAGEMENT INC	85,12785,127	$4M	0.30%	—
29	TrueWealth Advisors, LLC	75,29075,290	$4M	0.26%	ADD 6%
30	CANADA LIFE ASSURANCE Co	68,24568,245	$3M	0.24%	TRIM -2%
31	Quinn Opportunity Partners LLC	66,50066,500	$3M	0.23%	—
32	Nuveen, LLC	65,87865,878	$3M	0.23%	TRIM -29%
33	AMERIPRISE FINANCIAL INC	66,01566,015	$3M	0.23%	—
34	BESSEMER GROUP INC	63,65863,658	$3M	0.22%	—
35	Balyasny Asset Management L.P.	59,60559,605	$3M	0.21%	ADD 82%
36	US BANCORP \DE\	59,31559,315	$3M	0.21%	—
37	AQR CAPITAL MANAGEMENT LLC	56,56156,561	$3M	0.20%	—
38	Swiss National Bank	55,30055,300	$3M	0.19%	—
39	UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC	53,65153,651	$3M	0.19%	NEW
40	HSBC HOLDINGS PLC	51,93251,932	$3M	0.18%	TRIM -42%
41	PRUDENTIAL FINANCIAL INC	51,51751,517	$3M	0.18%	ADD 2%
42	Engineers Gate Manager LP	48,90048,900	$2M	0.17%	—
43	Tidal Investments LLC	48,13748,137	$2M	0.17%	TRIM -9%
44	SEGALL BRYANT & HAMILL, LLC	45,94845,948	$2M	0.16%	TRIM -3%
45	NOMURA ASSET MANAGEMENT CO LTD	44,96044,960	$2M	0.16%	ADD 6%
46	NEW YORK STATE TEACHERS RETIREMENT SYSTEM	40,80040,800	$2M	0.14%	TRIM -2%
47	CSM Advisors, LLC	40,29440,294	$2M	0.14%	ADD 10%
48	MILLENNIUM MANAGEMENT LLC	40,04140,041	$2M	0.14%	TRIM -84%
49	CITIGROUP INC	39,85439,854	$2M	0.14%	ADD 7%
50	Asset Management One Co., Ltd.	39,42539,425	$2M	0.14%	—
51	Advisors Asset Management, Inc.	39,31539,315	$2M	0.14%	ADD 240%
52	MML INVESTORS SERVICES, LLC	38,94338,943	$2M	0.14%	TRIM -45%
53	MACQUARIE GROUP LTD	37,77937,779	$2M	0.13%	ADD 5%
54	EXCHANGE TRADED CONCEPTS, LLC	36,89736,897	$2M	0.13%	ADD 7%
55	FRANKLIN RESOURCES INC	36,41136,411	$2M	0.13%	TRIM -8%
56	PICTON MAHONEY ASSET MANAGEMENT	34,86034,860	$2M	0.12%	ADD 387233%
57	ALLIANCEBERNSTEIN L.P.	36,34036,340	$2M	0.13%	—
58	PRICE T ROWE ASSOCIATES INC /MD/	33,81133,811	$2M	0.12%	ADD 16%
59	MARTINGALE ASSET MANAGEMENT L P	33,42633,426	$2M	0.12%	ADD 13%
60	DEUTSCHE BANK AG\	33,28833,288	$2M	0.12%	ADD 9%
61	Cresset Asset Management, LLC	31,76731,767	$2M	0.11%	—
62	PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO	32,13232,132	$2M	0.11%	TRIM -17%
63	NISA INVESTMENT ADVISORS, LLC	29,72929,729	$2M	0.10%	ADD 61%
64	Edgestream Partners, L.P.	30,58430,584	$2M	0.11%	TRIM -76%
65	Sumitomo Mitsui Trust Group, Inc.	30,52730,527	$2M	0.11%	—
66	BANK OF AMERICA CORP /DE/	29,41329,413	$1M	0.10%	ADD 76%
67	SG Americas Securities, LLC	29,18329,183	$1M	0.10%	ADD 17%
68	State of Alaska, Department of Revenue	28,97228,972	$1M	0.10%	—
69	Quantbot Technologies LP	28,59828,598	$1M	0.10%	ADD 495%
70	Universal- Beteiligungs- und Servicegesellschaft mbH	28,36628,366	$1M	0.10%	—
71	COMMONWEALTH EQUITY SERVICES, LLC	27,42827,428	$1M	0.10%	ADD 14%
72	Sunbelt Securities, Inc.	27,13127,131	$1M	0.09%	ADD 5%
73	VANGUARD ASSET MANAGEMENT, Ltd	27,04027,040	$1M	0.09%	NEW
74	Summit Financial, LLC	25,76925,769	$1M	0.09%	NEW
75	Vanguard Investments Australia, Ltd.	26,63126,631	$1M	0.09%	NEW
76	Allianz Asset Management GmbH	26,38126,381	$1M	0.09%	—
77	CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM	25,92225,922	$1M	0.09%	—
78	LPL Financial LLC	25,55425,554	$1M	0.09%	TRIM -8%
79	CAPITAL FUND MANAGEMENT S.A.	25,13425,134	$1M	0.09%	TRIM -8%
80	Penserra Capital Management LLC	24,45124,451	$1M	0.08%	ADD 3%
81	MACKENZIE FINANCIAL CORP	24,07624,076	$1M	0.08%	TRIM -7%
82	Mitsubishi UFJ Asset Management Co., Ltd.	22,22322,223	$1M	0.08%	ADD 4%
83	AMERICAN CENTURY COMPANIES INC	22,08922,089	$1M	0.08%	ADD 10%
84	MANUFACTURERS LIFE INSURANCE COMPANY, THE	21,96521,965	$1M	0.08%	—
85	CITADEL ADVISORS LLC	20,70420,704	$1M	0.07%	ADD 87%
86	Cetera Investment Advisers	20,30120,301	$1M	0.07%	TRIM -8%
87	NOMURA ASSET MANAGEMENT INTERNATIONAL INC.	20,07120,071	$1M	0.07%	—
88	COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS	19,43119,431	$974,659	0.07%	ADD 22%
89	Zurcher Kantonalbank (Zurich Cantonalbank)	19,19519,195	$962,821	0.07%	ADD 29%
90	Amundi	18,61618,616	$933,779	0.06%	ADD 14%
91	OMERS ADMINISTRATION Corp	18,60018,600	$932,976	0.06%	ADD 11%
92	UBS Group AG	17,75817,758	$890,741	0.06%	ADD 20%
93	Summit Global Investments	17,20517,205	$863,000	0.06%	TRIM -19%
94	MetLife Investment Management, LLC	16,33116,331	$819,163	0.06%	—
95	BNP PARIBAS ASSET MANAGEMENT Holding S.A.	16,32216,322	$818,711	0.06%	—
96	Black Swift Group, LLC	15,22515,225	$763,686	0.05%	TRIM -19%
97	North Star Investment Management Corp.	15,04515,045	$754,657	0.05%	ADD 33333%
98	Quantinno Capital Management LP	14,30414,304	$717,491	0.05%	ADD 32%
99	Illinois Municipal Retirement Fund	14,17314,173	$710,918	0.05%	—
100	CENTAURUS FINANCIAL, INC.	14,11914,119	$708,000	0.05%	—

† a filer this large appearing as NEW usually reflects a renamed or succeeded filing entity (the old name stops filing the same quarter) — not a brand-new position.

Rows rank by the value each filer reported — 13F filers price their own positions, so a holder with fewer shares can rank just above one with more.

Holder trends· top 15 holders · shares held over 6 quarters

green added · red trimmed

Holder

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

BlackRock, Inc.

5.1M

4.9M

4.7M

4.8M

$240M

VANGUARD PORTFOLIO MANAGEMENT LLC

—

2.7M

$137M

STATE STREET CORP

1.7M

1.6M

$83M

VANGUARD CAPITAL MANAGEMENT LLC

—

1.2M

$62M

CHARLES SCHWAB INVESTMENT MANAGEMENT INC

465K

462K

496K

517K

541K

574K

$29M

GOLDMAN SACHS GROUP INC

198K

211K

203K

404K

509K

542K

$27M

ARROWSTREET CAPITAL, LIMITED PARTNERSHIP

—

91K

28K

—

15K

540K

$27M

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

91K

87K

288K

305K

323K

516K

$26M

Invesco Ltd.

278K

272K

382K

440K

494K

496K

$25M

Point72 Asset Management, L.P.

58K

21K

—

55K

185K

465K

$23M

NORTHERN TRUST CORP

436K

431K

411K

361K

353K

380K

$19M

DIMENSIONAL FUND ADVISORS LP

342K

345K

334K

350K

367K

$18M

D. E. Shaw & Co., Inc.

113K

203K

305K

388K

473K

363K

$18M

AlphaCore Capital LLC

—

210K

211K

214K

$11M

MORGAN STANLEY

432K

509K

339K

313K

260K

207K

$10M

Shares reported each quarter by the largest current holders. Green = added vs the prior filing, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.

Institutional footprint by quarter

Line breaks are honest gaps — quarters with no 13F record, or a suppressed % — never interpolated. % of shares outstanding uses today's share count for every quarter (the only count stored).

Quarter	Holders	Shares held	% shares out	Value held
2026-Q1	300	19,888,711	69.1%	$1.0B
2025-Q4	293	19,469,746	67.7%	$926M
2025-Q3	309	18,818,183	65.4%	$1.0B
2025-Q2	314	19,279,324	67.0%	$1.1B
2025-Q1	327	19,551,827	67.9%	$1.1B

Short interest has its own tab now — open SI →

Source: SEC Form 13F — every institution manager (≥ $100M in 13F securities) reporting a long US-listed position, across ~10,250 filers over 10 years of history. 13F is long-only, US-listed, filed up to 45 days after quarter-end.

Activists & large holders· Schedule 13D/G beneficial owners · IIPR

Large holders — 13G, passive (top 4 by % of class)

Holder	% of class	Type	As of
BlackRock, Inc.	16.7%	QII	2025-06-30	SEC →
VANGUARD PORTFOLIO MANAGEMENT LLC	9.73%	QII	2026-03-31	SEC →
VANGUARD CAPITAL MANAGEMENT LLC	5.25%	QII	2026-03-31	SEC →
VANGUARD GROUP INC	0%	QII	2026-03-13	SEC →

Source: SEC Schedule 13D/13G structured XML. 13D = active intent; 13G filers report passively (Rule 13d-1(b) QII / 13d-1(c) Passive / 13d-1(d) Exempt) and are not activists. Percent and delta are the group aggregate the filing reports. Structured 13D/G coverage begins December 2024 (SEC XML mandate).

Institutional ownership· 13F filers holding IIPR · 2026-Q1 methodology → sources →

300 holders

% of shares outstanding held

69.1%

Shares held (13F)

19,888,711

Reporting holders

300

Top holders

largest 100 of 300 · Δ vs 2025-Q4

#	Holder	Shares	Value	% of shares out	Δ QoQ
1	BlackRock, Inc.	4,781,5894.8M	$240M	16.62%	—
2	VANGUARD PORTFOLIO MANAGEMENT LLC	2,728,9892.7M	$137M	9.48%	NEW†
3	STATE STREET CORP	1,586,6741.6M	$83M	5.51%	—
4	VANGUARD CAPITAL MANAGEMENT LLC	1,242,1621.2M	$62M	4.32%	NEW†
5	CHARLES SCHWAB INVESTMENT MANAGEMENT INC	573,633573,633	$29M	1.99%	ADD 6%
6	GOLDMAN SACHS GROUP INC	541,919541,919	$27M	1.88%	ADD 6%
7	ARROWSTREET CAPITAL, LIMITED PARTNERSHIP	539,600539,600	$27M	1.88%	ADD 3423%
8	MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.	516,111516,111	$26M	1.79%	ADD 60%
9	Invesco Ltd.	496,077496,077	$25M	1.72%	—
10	Point72 Asset Management, L.P.	464,907464,907	$23M	1.62%	ADD 152%
11	NORTHERN TRUST CORP	380,287380,287	$19M	1.32%	ADD 8%
12	DIMENSIONAL FUND ADVISORS LP	366,811366,811	$18M	1.27%	ADD 5%
13	D. E. Shaw & Co., Inc.	362,714362,714	$18M	1.26%	TRIM -23%
14	AlphaCore Capital LLC	214,482214,482	$11M	0.75%	—
15	MORGAN STANLEY	207,274207,274	$10M	0.72%	TRIM -20%
16	Bank of New York Mellon Corp	191,314191,314	$10M	0.66%	—
17	PRINCIPAL FINANCIAL GROUP INC	183,835183,835	$9M	0.64%	—
18	VANGUARD FIDUCIARY TRUST CO	181,144181,144	$9M	0.63%	NEW
19	Legal & General Group Plc	178,476178,476	$9M	0.62%	TRIM -8%
20	Thrivent Financial for Lutherans	153,063153,063	$8M	0.53%	ADD 8%
21	JPMORGAN CHASE & CO	132,514132,514	$7M	0.46%	TRIM -20%
22	Pacer Advisors, Inc.	130,218130,218	$7M	0.45%	ADD 12%
23	LSV ASSET MANAGEMENT	106,200106,200	$5M	0.37%	TRIM -3%
24	FIRST TRUST ADVISORS LP	100,294100,294	$5M	0.35%	ADD 20%
25	Public Sector Pension Investment Board	100,241100,241	$5M	0.35%	ADD 3%
26	GEODE CAPITAL MANAGEMENT, LLC	98,12198,121	$5M	0.34%	ADD 28%
27	RHUMBLINE ADVISERS	89,16789,167	$4M	0.31%	ADD 5%
28	VICTORY CAPITAL MANAGEMENT INC	85,12785,127	$4M	0.30%	—
29	TrueWealth Advisors, LLC	75,29075,290	$4M	0.26%	ADD 6%
30	CANADA LIFE ASSURANCE Co	68,24568,245	$3M	0.24%	TRIM -2%
31	Quinn Opportunity Partners LLC	66,50066,500	$3M	0.23%	—
32	Nuveen, LLC	65,87865,878	$3M	0.23%	TRIM -29%
33	AMERIPRISE FINANCIAL INC	66,01566,015	$3M	0.23%	—
34	BESSEMER GROUP INC	63,65863,658	$3M	0.22%	—
35	Balyasny Asset Management L.P.	59,60559,605	$3M	0.21%	ADD 82%
36	US BANCORP \DE\	59,31559,315	$3M	0.21%	—
37	AQR CAPITAL MANAGEMENT LLC	56,56156,561	$3M	0.20%	—
38	Swiss National Bank	55,30055,300	$3M	0.19%	—
39	UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC	53,65153,651	$3M	0.19%	NEW
40	HSBC HOLDINGS PLC	51,93251,932	$3M	0.18%	TRIM -42%
41	PRUDENTIAL FINANCIAL INC	51,51751,517	$3M	0.18%	ADD 2%
42	Engineers Gate Manager LP	48,90048,900	$2M	0.17%	—
43	Tidal Investments LLC	48,13748,137	$2M	0.17%	TRIM -9%
44	SEGALL BRYANT & HAMILL, LLC	45,94845,948	$2M	0.16%	TRIM -3%
45	NOMURA ASSET MANAGEMENT CO LTD	44,96044,960	$2M	0.16%	ADD 6%
46	NEW YORK STATE TEACHERS RETIREMENT SYSTEM	40,80040,800	$2M	0.14%	TRIM -2%
47	CSM Advisors, LLC	40,29440,294	$2M	0.14%	ADD 10%
48	MILLENNIUM MANAGEMENT LLC	40,04140,041	$2M	0.14%	TRIM -84%
49	CITIGROUP INC	39,85439,854	$2M	0.14%	ADD 7%
50	Asset Management One Co., Ltd.	39,42539,425	$2M	0.14%	—
51	Advisors Asset Management, Inc.	39,31539,315	$2M	0.14%	ADD 240%
52	MML INVESTORS SERVICES, LLC	38,94338,943	$2M	0.14%	TRIM -45%
53	MACQUARIE GROUP LTD	37,77937,779	$2M	0.13%	ADD 5%
54	EXCHANGE TRADED CONCEPTS, LLC	36,89736,897	$2M	0.13%	ADD 7%
55	FRANKLIN RESOURCES INC	36,41136,411	$2M	0.13%	TRIM -8%
56	PICTON MAHONEY ASSET MANAGEMENT	34,86034,860	$2M	0.12%	ADD 387233%
57	ALLIANCEBERNSTEIN L.P.	36,34036,340	$2M	0.13%	—
58	PRICE T ROWE ASSOCIATES INC /MD/	33,81133,811	$2M	0.12%	ADD 16%
59	MARTINGALE ASSET MANAGEMENT L P	33,42633,426	$2M	0.12%	ADD 13%
60	DEUTSCHE BANK AG\	33,28833,288	$2M	0.12%	ADD 9%
61	Cresset Asset Management, LLC	31,76731,767	$2M	0.11%	—
62	PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO	32,13232,132	$2M	0.11%	TRIM -17%
63	NISA INVESTMENT ADVISORS, LLC	29,72929,729	$2M	0.10%	ADD 61%
64	Edgestream Partners, L.P.	30,58430,584	$2M	0.11%	TRIM -76%
65	Sumitomo Mitsui Trust Group, Inc.	30,52730,527	$2M	0.11%	—
66	BANK OF AMERICA CORP /DE/	29,41329,413	$1M	0.10%	ADD 76%
67	SG Americas Securities, LLC	29,18329,183	$1M	0.10%	ADD 17%
68	State of Alaska, Department of Revenue	28,97228,972	$1M	0.10%	—
69	Quantbot Technologies LP	28,59828,598	$1M	0.10%	ADD 495%
70	Universal- Beteiligungs- und Servicegesellschaft mbH	28,36628,366	$1M	0.10%	—
71	COMMONWEALTH EQUITY SERVICES, LLC	27,42827,428	$1M	0.10%	ADD 14%
72	Sunbelt Securities, Inc.	27,13127,131	$1M	0.09%	ADD 5%
73	VANGUARD ASSET MANAGEMENT, Ltd	27,04027,040	$1M	0.09%	NEW
74	Summit Financial, LLC	25,76925,769	$1M	0.09%	NEW
75	Vanguard Investments Australia, Ltd.	26,63126,631	$1M	0.09%	NEW
76	Allianz Asset Management GmbH	26,38126,381	$1M	0.09%	—
77	CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM	25,92225,922	$1M	0.09%	—
78	LPL Financial LLC	25,55425,554	$1M	0.09%	TRIM -8%
79	CAPITAL FUND MANAGEMENT S.A.	25,13425,134	$1M	0.09%	TRIM -8%
80	Penserra Capital Management LLC	24,45124,451	$1M	0.08%	ADD 3%
81	MACKENZIE FINANCIAL CORP	24,07624,076	$1M	0.08%	TRIM -7%
82	Mitsubishi UFJ Asset Management Co., Ltd.	22,22322,223	$1M	0.08%	ADD 4%
83	AMERICAN CENTURY COMPANIES INC	22,08922,089	$1M	0.08%	ADD 10%
84	MANUFACTURERS LIFE INSURANCE COMPANY, THE	21,96521,965	$1M	0.08%	—
85	CITADEL ADVISORS LLC	20,70420,704	$1M	0.07%	ADD 87%
86	Cetera Investment Advisers	20,30120,301	$1M	0.07%	TRIM -8%
87	NOMURA ASSET MANAGEMENT INTERNATIONAL INC.	20,07120,071	$1M	0.07%	—
88	COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS	19,43119,431	$974,659	0.07%	ADD 22%
89	Zurcher Kantonalbank (Zurich Cantonalbank)	19,19519,195	$962,821	0.07%	ADD 29%
90	Amundi	18,61618,616	$933,779	0.06%	ADD 14%
91	OMERS ADMINISTRATION Corp	18,60018,600	$932,976	0.06%	ADD 11%
92	UBS Group AG	17,75817,758	$890,741	0.06%	ADD 20%
93	Summit Global Investments	17,20517,205	$863,000	0.06%	TRIM -19%
94	MetLife Investment Management, LLC	16,33116,331	$819,163	0.06%	—
95	BNP PARIBAS ASSET MANAGEMENT Holding S.A.	16,32216,322	$818,711	0.06%	—
96	Black Swift Group, LLC	15,22515,225	$763,686	0.05%	TRIM -19%
97	North Star Investment Management Corp.	15,04515,045	$754,657	0.05%	ADD 33333%
98	Quantinno Capital Management LP	14,30414,304	$717,491	0.05%	ADD 32%
99	Illinois Municipal Retirement Fund	14,17314,173	$710,918	0.05%	—
100	CENTAURUS FINANCIAL, INC.	14,11914,119	$708,000	0.05%	—

† a filer this large appearing as NEW usually reflects a renamed or succeeded filing entity (the old name stops filing the same quarter) — not a brand-new position.

Rows rank by the value each filer reported — 13F filers price their own positions, so a holder with fewer shares can rank just above one with more.

Holder trends· top 15 holders · shares held over 6 quarters

green added · red trimmed

Holder

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

BlackRock, Inc.

5.1M

4.9M

4.7M

4.8M

$240M

VANGUARD PORTFOLIO MANAGEMENT LLC

—

2.7M

$137M

STATE STREET CORP

1.7M

1.6M

$83M

VANGUARD CAPITAL MANAGEMENT LLC

—

1.2M

$62M

CHARLES SCHWAB INVESTMENT MANAGEMENT INC

465K

462K

496K

517K

541K

574K

$29M

GOLDMAN SACHS GROUP INC

198K

211K

203K

404K

509K

542K

$27M

ARROWSTREET CAPITAL, LIMITED PARTNERSHIP

—

91K

28K

—

15K

540K

$27M

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

91K

87K

288K

305K

323K

516K

$26M

Invesco Ltd.

278K

272K

382K

440K

494K

496K

$25M

Point72 Asset Management, L.P.

58K

21K

—

55K

185K

465K

$23M

NORTHERN TRUST CORP

436K

431K

411K

361K

353K

380K

$19M

DIMENSIONAL FUND ADVISORS LP

342K

345K

334K

350K

367K

$18M

D. E. Shaw & Co., Inc.

113K

203K

305K

388K

473K

363K

$18M

AlphaCore Capital LLC

—

210K

211K

214K

$11M

MORGAN STANLEY

432K

509K

339K

313K

260K

207K

$10M

Institutional footprint by quarter

Line breaks are honest gaps — quarters with no 13F record, or a suppressed % — never interpolated. % of shares outstanding uses today's share count for every quarter (the only count stored).

Quarter	Holders	Shares held	% shares out	Value held
2026-Q1	300	19,888,711	69.1%	$1.0B
2025-Q4	293	19,469,746	67.7%	$926M
2025-Q3	309	18,818,183	65.4%	$1.0B
2025-Q2	314	19,279,324	67.0%	$1.1B
2025-Q1	327	19,551,827	67.9%	$1.1B

Short interest has its own tab now — open SI →

Activists & large holders· Schedule 13D/G beneficial owners · IIPR

Large holders — 13G, passive (top 4 by % of class)

Holder	% of class	Type	As of
BlackRock, Inc.	16.7%	QII	2025-06-30	SEC →
VANGUARD PORTFOLIO MANAGEMENT LLC	9.73%	QII	2026-03-31	SEC →
VANGUARD CAPITAL MANAGEMENT LLC	5.25%	QII	2026-03-31	SEC →
VANGUARD GROUP INC	0%	QII	2026-03-13	SEC →

IIPR US Equity☆

Institutional ownership· 13F filers holding IIPR · 2026-Q1 methodology → sources →

Top holders

Holder trends· top 15 holders · shares held over 6 quarters

Institutional footprint by quarter

Activists & large holders· Schedule 13D/G beneficial owners · IIPR

Institutional ownership· 13F filers holding IIPR · 2026-Q1 methodology → sources →

Top holders

Holder trends· top 15 holders · shares held over 6 quarters

Institutional footprint by quarter

Activists & large holders· Schedule 13D/G beneficial owners · IIPR

IIPR US Equity