Argosy-Lionbridge Management, LLC

Key Holdings

The portfolio is top-heavy, with the three largest positions accounting for nearly 74% of the total assets.

• REXFORD INDL RLTY INC (REXR): This is the largest holding, comprising 26.61% of the portfolio ($24.86M). A sizable position of 605,000 shares suggests strong conviction in Rexford’s industrial real estate strategy, likely focused on infill markets in Southern California.
• APARTMENT INVT & MGMT CO (AIV): The second-largest position represents 24.72% of the portfolio ($23.10M). With 2.91M shares, this indicates a significant bet on the multifamily residential sector and potential turnaround or value realization scenarios within Apartment Investment & Management.
• FIRST INDL RLTY TR INC (FR): Holding a 22.26% weight ($20.80M), First Industrial Realty Trust solidifies the portfolio's heavy tilt toward industrial real estate.
• INDEPENDENCE RLTY TR INC (IRT): A new addition this quarter, IRT immediately became the fourth-largest holding at 13.07% ($12.21M), signaling a rapid pivot into the residential REIT space.