Who owns Agree Realty (ADC)
Which tracked institutional funds hold ADC, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See ADC company fundamentals →
Ownership as of the 2026-Q2 13F filings (latest filed 2026-09-22). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
108 tracked funds added or opened ADC while 103 trimmed or exited it between 2026-Q1 and 2026-Q2 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
ADC’s largest tracked holder by dollar value, BlackRock, Inc., sizes it at 0.0% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 0.0pp gap the other way — the median holder sizes ADC more heavily than its largest holder by dollar value does.
Book-share is each fund’s reported value in ADC divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2026-Q1 and 2026-Q2, across 460 tracked filers holding ADC, 232 increased or opened the position and 234 reduced or closed it; over the same quarter, open-market insider Form 4s were net purchases. A multi-insider buy cluster also fired inside the quarter.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in ADC between the 2026-Q1 and 2026-Q2 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 16
- CANADA PENSION PLAN INVESTMENT BOARD$93M
- Jupiter Topco LLC$92M
- Jefferies Financial Group Inc.$40M
- Vision Capital Corp$16M
- Freestone Grove Partners LP$12M
- Hudson Bay Capital Management LP$11M
Full exits 45
- COHEN & STEERS, INC.$1.3B
- JANUS HENDERSON GROUP PLC$94M
- PGGM Investments$70M
- Thrivent Financial for Lutherans$51M
- GW&K Investment Management, LLC$42M
- HRT FINANCIAL LP$39M
Largest adds
- BlackRock, Inc.$456M
- NORGES BANK$70M
- HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND$62M
- Nuveen, LLC$56M
- MILLENNIUM MANAGEMENT LLC$37M
- TUDOR INVESTMENT CORP ET AL$32M
Largest trims
- JPMORGAN CHASE & CO$121M
- Zimmer Partners, LP$109M
- Engineers Gate Manager LP$38M
- TWO SIGMA INVESTMENTS, LP$37M
- Schonfeld Strategic Advisors LLC$17M
- VOLORIDGE INVESTMENT MANAGEMENT, LLC$16M
Institutional holders
One row per tracked fund, most shares held first (every row is from one quarter; reported value breaks ties). “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding.
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| BlackRock, Inc. added | 19,112,107 | $1.4B | 16.4% | 2026-Q2 |
| VANGUARD PORTFOLIO MANAGEMENT LLC added | 10,588,511 | $802M | 9.1% | 2026-Q2 |
| STATE STREET CORP trimmed | 5,858,959 | $445M | 5.1% | 2026-Q2 |
| VANGUARD CAPITAL MANAGEMENT LLC added | 5,405,144 | $409M | 4.6% | 2026-Q2 |
| PRINCIPAL FINANCIAL GROUP INC added | 4,662,379 | $353M | 4.0% | 2026-Q2 |
| CENTERSQUARE INVESTMENT MANAGEMENT LLC added | 3,730,917 | $283M | 3.2% | 2026-Q2 |
| TWO SIGMA INVESTMENTS, LP trimmed | 3,535,058 | $268M | 3.0% | 2026-Q2 |
| Daiwa Securities Group Inc. trimmed | 2,921,805 | $221M | 2.5% | 2026-Q2 |
| GEODE CAPITAL MANAGEMENT, LLC added | 2,781,222 | $211M | 2.4% | 2026-Q2 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 2,196,532 | $166M | 1.9% | 2026-Q2 |
| Zimmer Partners, LP trimmed | 1,843,300 | $140M | 1.6% | 2026-Q2 |
| DIMENSIONAL FUND ADVISORS LP added | 1,794,541 | $136M | 1.5% | 2026-Q2 |
| PRUDENTIAL FINANCIAL INC trimmed | 1,787,283 | $135M | 1.5% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ added | 1,728,560 | $131M | 1.5% | 2026-Q2 |
| MILLENNIUM MANAGEMENT LLC added | 1,582,623 | $120M | 1.4% | 2026-Q2 |
| NORGES BANK added | 1,551,258 | $117M | 1.3% | 2026-Q2 |
| MORGAN STANLEY added | 1,525,277 | $116M | 1.3% | 2026-Q2 |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. added | 1,518,183 | $115M | 1.3% | 2026-Q2 |
| RAYMOND JAMES FINANCIAL INC trimmed | 1,428,749 | $108M | 1.2% | 2026-Q2 |
| DEUTSCHE BANK AG\ added | 1,382,985 | $105M | 1.2% | 2026-Q2 |
| NORTHERN TRUST CORP added | 1,356,029 | $103M | 1.2% | 2026-Q2 |
| GOLDMAN SACHS GROUP INC added | 1,230,891 | $93M | 1.1% | 2026-Q2 |
| CANADA PENSION PLAN INVESTMENT BOARD added | 1,221,720 | $93M | 1.0% | 2026-Q2 |
| Jupiter Topco LLC new | 1,216,172 | $92M | 1.0% | 2026-Q2 |
| Nuveen, LLC added | 1,164,511 | $88M | 1.0% | 2026-Q2 |
| JPMORGAN CHASE & CO trimmed | 1,117,272 | $86M | 1.0% | 2026-Q2 |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO added | 1,100,957 | $83M | 0.9% | 2026-Q2 |
| SEI INVESTMENTS CO trimmed | 1,001,224 | $76M | 0.9% | 2026-Q2 |
| FRONTIER CAPITAL MANAGEMENT CO LLC trimmed | 943,005 | $71M | 0.8% | 2026-Q2 |
| Sumitomo Mitsui Trust Group, Inc. added | 940,816 | $71M | 0.8% | 2026-Q2 |
| Russell Investments Group, Ltd. added | 920,097 | $70M | 0.8% | 2026-Q2 |
| LASALLE INVESTMENT MANAGEMENT SECURITIES LLC added | 915,004 | $69M | 0.8% | 2026-Q2 |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND added | 915,000 | $69M | 0.8% | 2026-Q2 |
| Bank of New York Mellon Corp trimmed | 908,817 | $69M | 0.8% | 2026-Q2 |
| RUSH ISLAND MANAGEMENT, LP added | 873,829 | $66M | 0.8% | 2026-Q2 |
| CINCINNATI INSURANCE CO | 789,500 | $60M | 0.7% | 2026-Q2 |
| Holocene Advisors, LP trimmed | 789,487 | $60M | 0.7% | 2026-Q2 |
| Bahl & Gaynor LLC added | 784,265 | $59M | 0.7% | 2026-Q2 |
| VANGUARD FIDUCIARY TRUST CO added | 760,519 | $58M | 0.7% | 2026-Q2 |
| Qube Research & Technologies Ltd added | 742,961 | $56M | 0.6% | 2026-Q2 |
| TUDOR INVESTMENT CORP ET AL added | 726,478 | $55M | 0.6% | 2026-Q2 |
| CITADEL ADVISORS LLC trimmed | 724,630 | $55M | 0.6% | 2026-Q2 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC added | 719,613 | $55M | 0.6% | 2026-Q2 |
| Legal & General Group Plc added | 687,184 | $52M | 0.6% | 2026-Q2 |
| AMERICAN CENTURY COMPANIES INC trimmed | 641,393 | $49M | 0.6% | 2026-Q2 |
| D. E. Shaw & Co., Inc. added | 633,290 | $48M | 0.5% | 2026-Q2 |
| Heitman Real Estate Securities LLC added | 578,024 | $44M | 0.5% | 2026-Q2 |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC trimmed | 550,706 | $42M | 0.5% | 2026-Q2 |
| Jefferies Financial Group Inc. added | 523,700 | $40M | 0.4% | 2026-Q2 |
| UBS Group AG added | 513,514 | $39M | 0.4% | 2026-Q2 |
| Invesco Ltd. added | 469,887 | $36M | 0.4% | 2026-Q2 |
| BALYASNY ASSET MANAGEMENT L.P. added | 448,806 | $34M | 0.4% | 2026-Q2 |
| Adelante Capital Management LLC trimmed | 430,209 | $33M | 0.4% | 2026-Q2 |
| Alyeska Investment Group, L.P. trimmed | 408,571 | $31M | 0.4% | 2026-Q2 |
| FORT WASHINGTON INVESTMENT ADVISORS INC /OH/ added | 406,608 | $31M | 0.3% | 2026-Q2 |
| Universal- Beteiligungs- und Servicegesellschaft mbH trimmed | 396,588 | $30M | 0.3% | 2026-Q2 |
| Leeward Investments, LLC - MA trimmed | 380,191 | $29M | 0.3% | 2026-Q2 |
| BNP PARIBAS FINANCIAL MARKETS added | 377,182 | $29M | 0.3% | 2026-Q2 |
| WELLS FARGO & COMPANY/MN trimmed | 369,853 | $28M | 0.3% | 2026-Q2 |
| ENVESTNET ASSET MANAGEMENT INC added | 367,137 | $28M | 0.3% | 2026-Q2 |
| Lighthouse Investment Partners, LLC added | 356,896 | $27M | 0.3% | 2026-Q2 |
| AMERIPRISE FINANCIAL INC added | 356,124 | $25M | 0.3% | 2026-Q2 |
| RHUMBLINE ADVISERS added | 340,610 | $26M | 0.3% | 2026-Q2 |
| SCHRODER INVESTMENT MANAGEMENT GROUP added | 337,411 | $26M | 0.3% | 2026-Q2 |
| Sophron Capital Management L.P. added | 331,087 | $25M | 0.3% | 2026-Q2 |
| Apollo Management Holdings, L.P. | 315,810 | $24M | 0.3% | 2026-Q2 |
| SYSTEMATIC FINANCIAL MANAGEMENT LP trimmed | 305,877 | $23M | 0.3% | 2026-Q2 |
| APG Asset Management US Inc. | 302,617 | $23M | 0.3% | 2026-Q2 |
| State of New Jersey Common Pension Fund D | 301,132 | $23M | 0.3% | 2026-Q2 |
| HSBC HOLDINGS PLC trimmed | 291,466 | $22M | 0.3% | 2026-Q2 |
| LOOMIS SAYLES & CO L P trimmed | 280,431 | $21M | 0.2% | 2026-Q2 |
| CITIGROUP INC added | 280,125 | $21M | 0.2% | 2026-Q2 |
| Gotham Asset Management, LLC trimmed | 274,961 | $21M | 0.2% | 2026-Q2 |
| NEUBERGER BERMAN GROUP LLC trimmed | 271,434 | $21M | 0.2% | 2026-Q2 |
| AQR CAPITAL MANAGEMENT LLC added | 264,993 | $20M | 0.2% | 2026-Q2 |
| Impax Asset Management Group plc | 260,000 | $20M | 0.2% | 2026-Q2 |
| Point72 Asset Management, L.P. added | 259,797 | $20M | 0.2% | 2026-Q2 |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO added | 259,479 | $20M | 0.2% | 2026-Q2 |
| Creative Planning added | 244,958 | $19M | 0.2% | 2026-Q2 |
| Swiss National Bank added | 240,982 | $18M | 0.2% | 2026-Q2 |
| California Public Employees Retirement System trimmed | 231,736 | $18M | 0.2% | 2026-Q2 |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC trimmed | 209,954 | $16M | 0.2% | 2026-Q2 |
| Vision Capital Corp added | 209,300 | $16M | 0.2% | 2026-Q2 |
| BARCLAYS PLC trimmed | 206,708 | $16M | 0.2% | 2026-Q2 |
| Asset Management One Co., Ltd. added | 201,377 | $15M | 0.2% | 2026-Q2 |
| NOMURA ASSET MANAGEMENT CO LTD added | 194,660 | $15M | 0.2% | 2026-Q2 |
| Susquehanna Portfolio Strategies, LLC added | 192,537 | $15M | 0.2% | 2026-Q2 |
| WELLINGTON MANAGEMENT GROUP LLP added | 184,545 | $14M | 0.2% | 2026-Q2 |
| Schonfeld Strategic Advisors LLC trimmed | 184,221 | $14M | 0.2% | 2026-Q2 |
| STATE OF WISCONSIN INVESTMENT BOARD trimmed | 179,752 | $14M | 0.2% | 2026-Q2 |
| ROYAL BANK OF CANADA added | 168,872 | $13M | 0.1% | 2026-Q2 |
| ALLIANCEBERNSTEIN L.P. trimmed | 165,623 | $12M | 0.1% | 2026-Q2 |
| EXCHANGE TRADED CONCEPTS, LLC added | 164,789 | $12M | 0.1% | 2026-Q2 |
| Freestone Grove Partners LP trimmed | 161,303 | $12M | 0.1% | 2026-Q2 |
| Aristotle Capital Boston, LLC trimmed | 158,400 | $12M | 0.1% | 2026-Q2 |
| LMCG INVESTMENTS, LLC added | 152,045 | $12M | 0.1% | 2026-Q2 |
| Hudson Bay Capital Management LP trimmed | 150,000 | $11M | 0.1% | 2026-Q2 |
| FRANKLIN RESOURCES INC added | 142,162 | $11M | 0.1% | 2026-Q2 |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM trimmed | 140,181 | $11M | 0.1% | 2026-Q2 |
| Ceredex Value Advisors LLC | 137,300 | $10M | 0.1% | 2026-Q2 |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.