Federal Realty Investment Trust

The full register, from 13F filings

The Register tab above is hand research: a dozen holders, each traced to the filing it came from. This asks the same question of the whole market for the quarter ended 31-mar-2026, where 544 managers reported a position. Broad where the research is deep, and shallow in the ways a 13F always is.

Built from 13F filings, which report US listed, long, US custodied positions only. A register from this source is a floor rather than a level: a holder's true position can be far larger, as BlackRock's ASML stake shows at 1.28m shares in a 13F against 26.3m in its 13G/A. Holdings held through derivatives, outside US custody, or below a manager's reporting obligation do not appear. Where a holder is marked as a family, its total sums several separate filing entities and describes something no single filing describes; the constituent entities and their share counts are listed so the total can be checked. That roll-up can legitimately exceed the family's own Schedule 13G, because a 13G is filed by one legal entity: Vanguard reports Alphabet through ten advisory entities, and The Vanguard Group Inc itself reported zero after its January 2026 disaggregation.

What a reader needs to know to read these numbers

• REORGANISATION / UPREIT STRUCTURE: FRT's Q2 2026 10-Q is a COMBINED report of two SEC registrants: Federal Realty Investment Trust (CIK 0000034903, the listed parent trust, Maryland) and Federal Realty OP LP (CIK 0001901876, the operating partnership, Delaware). The filing's Explanatory Note states: 'This report combines the quarterly reports on Form 10-Q for the quarter ended June 30, 2026, of Federal Realty Investment Trust and Federal Realty OP LP.' It further states: 'The Parent Company is a real estate investment trust (REIT) that owns 100% of the limited liability company interests of, is the sole member of, and exercises exclusive control over Federal Realty GP LLC (the General Partner), which is the sole general partner of the Operating Partnership. As of June 30, 2026, the Parent Company owned 100% of the outstanding partnership units (the OP Units) in the Operating Partnership.' There is therefore NO third-party minority interest in the main Operating Partnership itself: this is not a case of a partly-owned UPREIT parent. CIK 0000034903 is confirmed as the correct listed-parent registrant for this project.
• COVER-PAGE SHARES OUTSTANDING QUOTE (used for company.shares_outstanding): the Q2 2026 combined 10-Q cover page states verbatim: 'The number of Federal Realty Investment Trust's common shares outstanding on July 27, 2026 was 86,889,133.' This is the listed parent's own figure, not the Operating Partnership's, and not a predecessor registrant's.
• DOWNREIT UNITS ARE A SEPARATE, SMALLER, LEGACY INSTRUMENT: separately from the main Operating Partnership (100% FRT-owned), FRT also has legacy 'downREIT' partnerships at the individual-property level with third-party limited partners who hold downREIT operating partnership units, exchangeable for cash or common shares at FRT's option. The Q2 2026 10-Q states: 'As of June 30, 2026, a total of 526,408 downREIT operating partnership units were outstanding which had a total fair value of approximately $65.0 million.' No 13F filer in this register was found to be a downREIT unit holder (13F filers hold the listed common shares, CUSIP 313745101); this is flagged per the project's units-are-not-shares rule as a precaution, not because any register row was affected by it.
• HOLDINGS SIDE: searched the newest combined 10-Q (period 2026-06-30, filed 31 Jul 2026) and the newest 10-K (FY2025, filed 12 Feb 2026) in full for 'equity method', 'joint venture', 'investments in partnerships', 'unconsolidated', 'non-marketable', 'cost method', 'variable interest entities'. Found FOUR named unconsolidated equity-method joint ventures (Assembly Row hotel, La Alameda shopping center, Chandler Festival shopping center, Chandler Gateway shopping center) sharing a single combined balance-sheet line 'Investment in partnerships' ($31.881 million at 31 Dec 2025 vs $33.458 million at 31 Dec 2024 per the 10-K balance sheet) and a separately disclosed combined VIE figure of $27.9 million (2025) / $29.4 million (2024) for 'our investment in the equity method joint ventures and maximum exposure to loss.' No ownership percentage or per-venture value is disclosed for any of the four anywhere in the 10-K, 10-Q, or Exhibit 21 (a bare subsidiary name list with no percentage column, checked). Per the project's rule, all four are recorded with null values; the combined $27.9 million / $31.881 million balance is not assigned to any single one and is repeated in unknowns. 'Non-marketable', 'cost method' and 'preferred equity investment' were searched with zero hits, a genuine negative, not evidence of an incomplete search.
• REGISTER SELF-GATE (computed on this FINAL file, using the chart's own arithmetic: raw shares summed, aggregate container reduced by its members' full-value shares, everything else at full value): 12 rows, 50,428,217 shares, 58.04% of 86,889,133 shares outstanding. This is above the project's normal 25-45% band and above the 55% corroboration threshold, so it was independently checked two ways. First, this project's own 31-Mar-2026 register snapshot (data/registers/FRT.json) reports total_shares_reported of 78,422,168 across 544 filers, which is 90.25% of shares outstanding: FRT is close to wholly institutionally held (a REIT with very little retail float), so a concentrated top institutional list drawing near 60% is expected rather than anomalous. Second, every row here was checked per-holder for a distinct filer family: the eight Vanguard entities, BlackRock, State Street, Resolution Capital, Invesco, AQR, Geode, Northern Trust and T. Rowe Price Associates all correspond to entities also present (at broadly similar sizes for the same period one quarter earlier) in the independent snapshot, ruling out a double-counted holder; Norges Bank is the one row NOT present in the snapshot at all, but it is independently and separately sourced from FRT's own 2026 DEF 14A 5%-owner table plus Norges Bank's own fresh Q2 2026 13F-HR, so it adds a genuinely distinct holder rather than duplicating one already counted. Every institutional row implies a share price of approximately $123.44 at 30 Jun 2026, consistent across all ten rows, confirming consistent units.
• VANGUARD CASE: parent CIK 0000102909 filed Form 13F-NT (no holdings) for Q2 2026, so the eight successor entities identified from this project's own register snapshot were summed: Vanguard Fiduciary Trust Co (0000933478), Vanguard Investments Australia Ltd (0001550100), Vanguard Asset Management Ltd (0001680208), Vanguard Personalized Indexing Management LLC (0001767306), Vanguard Global Advisers LLC (0001811242), Vanguard National Trust Co (0001984256), Vanguard Capital Management LLC (0002100119), Vanguard Portfolio Management LLC (0002100121). Total 13,382,426 shares, $1,651,926,666.
• CAPITAL GROUP: checked all three primary registrants for Q2 2026 (Capital World Investors CIK 0001422849, Capital International Investors CIK 0001562230, Capital Research Global Investors CIK 0001422848). NONE holds FRT shares as of 30 Jun 2026 (no row for CUSIP 313745101 or issuer name fragments 'FEDERAL RLTY' / 'FEDERAL REALTY' in any of the three information tables). Recorded as a check, not a row, per the project's rule. Consistent with Capital Group not appearing in this project's own register snapshot either.
• T. ROWE PRICE: both registrants checked. T. Rowe Price Associates, Inc. (CIK 0000080255) holds 1,792,044 shares (value reported in thousands, corrected here). T. Rowe Price Investment Management, Inc. (CIK 0001897612) holds ZERO shares as of Q2 2026 (checked, recorded as a note per the project's rule, not a row).
• SG Americas Securities, LLC and Cohen & Steers were both checked for CUSIP 313745101 / 'FEDERAL RLTY' in this project's register snapshot and neither appears among FRT's top holders, so neither was pursued further; this is recorded so the values-in-thousands filer-quirk check (which the brief specifically calls out for both, plus T. Rowe) is documented as performed even though neither filer showed up as material here.
• JOINT VENTURES / pct_of_target CHECK: all four holdings rows have pct_of_target set to null (not 0.5 or any fraction), because no ownership percentage was disclosed for any of the four unconsolidated joint ventures anywhere in FRT's filings. This was deliberately checked against the project's known pct_of_target-as-fraction defect before finishing.
• The register was NOT extended to JPMorgan Chase & Co. (a stale 5.2% holder per the 2026 DEF 14A, sourced to a 13G filed 9 Oct 2024 as of 30 Sep 2024) because its current institutional-manager 13F filer CIK could not be located within this task's time budget; only two JPMorgan Chase 13F filer CIKs found (0000835271 'JPMorgan Chase Bank, N.A.' and 0001364743 'JPMorgan Chase Funding Inc.') are not the parent asset-manager entity. This is recorded in unknowns rather than reported with a stale figure.
• Coordinator verification of the 58.04 per cent self-gate, above the project's 55 per cent line. Corroborated per holder against this project's own 13F-derived snapshot at data/registers/FRT.json, built from 544 filers at 31 Mar 2026 and independent of the filings read here: Vanguard 13,468,704 there against 13,382,426 here, BlackRock 8,642,048, State Street 6,378,740, Invesco 2,688,309 and Geode 2,292,435 all matching the corresponding rows at comparable size. That snapshot reports 78,422,168 shares against 86,889,133 outstanding, approximately 90.3 per cent, so Federal Realty is close to wholly institutionally held and a concentrated top twelve is consistent rather than anomalous. Two open questions from the research are resolved here. First, the file left JPMorgan out because its 5.2 per cent figure came from a stale proxy and no fresh 13F was located in budget. That omission is CORRECT, not a gap: the independent snapshot lists JPMorgan at only 1,048,230 shares, about 1.21 per cent, which is far below top-twelve size, so carrying the stale 5.2 per cent would have overstated the position roughly fivefold. The snapshot is used here only to judge magnitude and ranking, never as a figure to write into a row, per the standing rule that it is an entity list and not a data source. Second, Norges Bank at 6.44 per cent is ENTIRELY ABSENT from that snapshot and was recovered only from the DEF 14A and its own fresh 13F. That is the second independent instance of this exact omission found in this session, the other being Regency Centers, and it further supports the standing instruction to learn WHO holds from the snapshot and then fetch every figure from the holder's own filing.