GRS Advisors, LLC

Real Assets

GRS Advisors, LLC is a Real Assets based in Chicago, IL led by Michael Jacob Geller, reporting $6.2B in AUM as of Q3 2025 with 67% Real Estate concentration and 62% concentrated in top 10 holdings.

CIOMichael Jacob Geller

Portfolio Value: $1.1B
Positions: 31
Top Holding: CCI at 11.69%
Last Reported: Q3 2025

Address900 North Michigan Ave, 14th Floor, Chicago, IL, 60611-6550, United States

Top Holdings

Largest long holdings in GRS Advisors, LLC's portfolio (62.3% of total portfolio)

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GthenH

Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Crown Castle CCI	REIT - Specialty Real Estate	$124.9M	11.69%	+$64.9M Bought	0.30% 1.3M shares	Q2 2025 Held for 5 months
2 Vail Resorts MTN	Gambling, Resorts & Casinos Consumer Cyclical	$67.6M	6.33%	-$678.3K Sold	1.26% 452.1K shares	Q2 2025 Held for 5 months
3 Federal Realty FRT	REIT - Retail Real Estate	$66.4M	6.21%	+$15.7M Bought	0.76% 655.2K shares	Q2 2025 Held for 5 months
4 Highwoods Properties HIW	REIT - Office Real Estate	$65.1M	6.10%	+$25.4M Bought	1.89% 2.0M shares	Q1 2024 Held for 1y 8m
5 Equinix, Inc. EQIX	REIT - Specialty Real Estate	$63.4M	5.93%	-$138.6K Sold	0.08% 80.9K shares	Q3 2022 Held for 3y 2m
6 Hyatt Hotels H	Travel Lodging Consumer Cyclical	$62.4M	5.84%	-$13.1M Sold	0.46% 439.8K shares	Q2 2025 Held for 5 months
7 American Healthcare REIT AHR	REIT - Healthcare Facilities Real Estate	$62.2M	5.82%	-$14.6M Sold	0.88% 1.5M shares	Q3 2024 Held for 1y 2m
8 CareTrust CTRE	REIT - Healthcare Facilities Real Estate	$53.8M	5.03%	+$23.7M Bought	0.70% 1.6M shares	Q4 2023 Held for 1y 11m
9 Curbline Properties CURB	Unknown Unknown	$53.6M	5.01%	+$708.7K Bought	2.28% 2.4M shares	Q4 2024 Held for 11 months
10 Ryman Hospitality Properties RHP	REIT - Hotel & Motel Real Estate	$45.8M	4.29%	+$10.2M Bought	0.81% 511.1K shares	Q2 2025 Held for 5 months

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GthenH

Changes

Portfolio activity, position movements, and quarter-over-quarter changes in GRS Advisors, LLC's latest filing

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GthenC

Market Value

$1.1B

Prior: $1.0B

Q/Q Change

+2.68%

+$27.9M

Net Flows % of MV

-13.29%

Turnover Ratio

30.9%

New Purchases

2 stocks

$56.9M

Added To

8 stocks

+$156.5M

Sold Out Of

5 stocks

$157.1M

Reduced Holdings

10 stocks

-$198.4M

Increased Positions

Position	Shares Δ	Change
1 Pursuit Attractions and Hospitality, Inc. PRSU	New	0 → 787.9K +$28.5M
2 COPT Defense Properties CDP	New	0 → 977.3K +$28.4M
3 Crown Castle CCI	+108.11%	622.2K → 1.3M +$64.9M
4 CareTrust CTRE	+79.08%	865.9K → 1.6M +$23.7M
5 Highwoods Properties HIW	+64.08%	1.2M → 2.0M +$25.4M

Decreased Positions

Position	Shares Δ	Change
1 Equity Residential EQR	Sold	1.0M → 0 −$70.6M
2 W.P. Carey Inc. WPC	Sold	604.3K → 0 −$37.7M
3 Agree Realty ADC	Sold	386.4K → 0 −$28.2M
4 DigitalBridge Group DBRG	Sold	1.8M → 0 −$18.8M
5 Meritage Homes MTH	Sold	26.2K → 0 −$1.8M