Welltower Inc.

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 1,457 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

• Holdings is empty, and that is the rule being applied rather than a gap. Welltower's Q2 2026 10-Q Note 8 discloses unconsolidated joint venture investments ONLY as four combined segment balances totalling $2,001,632,000, with ownership stated as ranges across many ventures: Seniors Housing Operating segment (multiple investees: $1,677,501,000 at 30 Jun 2026, stated ownership 8% to 95%; Triple-net segment (multiple investees: $9,629,000 at 30 Jun 2026, stated ownership 20% ownership percentage for this segment's combined unconsolidated joint venture balance at 30 Jun 2026, but does not name the venture(s) making up the balance, so pct_of_target is left null rather than attaching a percentage to an unnamed target.; Outpatient Medical segment (multiple investees: $123,283,000 at 30 Jun 2026, stated ownership 15% to 50%; Non-segment/Corporate (multiple investees: $191,219,000 at 30 Jun 2026, stated ownership Ownership interests in this bucket's unconsolidated joint ventures range from 20% to 88%. Not one individual venture is named or separately sized anywhere in the 10-Q or the FY2025 10-K. An earlier draft of this file recorded those four segment balances as four holdings rows, which was wrong twice over: a segment is not a company, so the site would have minted private-company pages for entities that do not exist, and the brief's rule against assigning a combined balance forbids sizing investees the filing does not separate. The figures are kept here, where they inform without asserting a stake in anything.
• Holdings scope and why this file has fewer sized positions than this project's Prologis file. Welltower's Q2 2026 10-Q (Note 8) and FY2025 10-K (Note 8) both disclose 'Investments in Unconsolidated Entities' only as FOUR segment-level combined totals (Seniors Housing Operating, Triple-net, Outpatient Medical, Non-segment/Corporate), each covering a RANGE of ownership percentages (e.g. 8% to 95% for Seniors Housing Operating) across multiple, unnamed joint ventures. This is structurally different from Prologis' FY2025 10-K, which names each of its ten co-investment ventures individually with its own single ownership percentage and investment balance. No SEC filing found here names an individual unconsolidated Welltower joint venture with its own percentage or value, so per the rule against assigning a combined balance to one investee, all four holdings rows above are recorded as combined, unnamed-investee balances with value_usd from the filing and pct_of_target left null (a range cannot be reduced to one number without inventing a figure). The four segment balances sum exactly to the balance-sheet total ('Investments in unconsolidated entities' $2,001,632,000 at 30 Jun 2026), confirming these four lines are the complete disaggregation Welltower provides.
• Excluded as consolidated, not a holding: HC-One Topco Limited. Welltower 'acquired all of the shares of HC-One Topco Limited ("HC-One") via a share purchase agreement' on 24 October 2025 (282 U.K. seniors housing properties); this is a 100%-owned, fully consolidated subsidiary, not a minority stake, and is excluded per the brief. The acquisition also settled Welltower's prior equity warrants in and loan receivable from HC-One (from an earlier, smaller relationship); those pre-acquisition instruments no longer exist and are not recorded as a current holding either.
• Excluded as consolidated, not a holding: joint ventures where Welltower is the controlling partner. The Q2 2026 10-Q MD&A states 'Entities in which we have a joint venture with a minority partner are shown at 100% of the joint venture amount' in its NOI tables, confirming Welltower consolidates its majority-controlled JVs (the outside partner's share appears as noncontrolling interest on Welltower's balance sheet, currently $1,024,686,000 total noncontrolling interests at 30 Jun 2026). These are Welltower's own controlled subsidiaries from Welltower's perspective, not equity stakes Welltower holds in a target company, so none are recorded as holdings. Historical minority-stake relationships that have since been fully disposed and are NOT current holdings: the Revera-partnered UK joint ventures (substantially unwound by 2023), the 34% interest in Sunrise Senior Living Management, Inc. ('Sunrise ManCo', disposed 2023), and the Chartwell joint ventures in Canada ('Strategic Dissolution of Chartwell Joint Ventures' during Q1 2025, per the Q2 2026 10-Q).
• Confirmed no loans recorded as equity. Two loan-type balances were specifically checked and excluded: (1) the Genesis Healthcare secured notes receivable, carrying value $124,681,000 at 30 Jun 2026, reclassified to the deteriorated-loan category after Genesis's Chapter 11 filing; this is a loan, not an equity stake, and Genesis is not recorded as a holding. (2) The $663,814,000 'mandatorily redeemable preferred equity investment' retained in the Outpatient Medical Portfolio Disposition is explicitly classified by Welltower itself, in its own 10-K, 'as a real estate loan in accordance with ASC 310, Receivables', not as an equity-method investment; it is excluded here on the filing's own accounting classification, consistent with the brief's loan-vs-equity rule.
• Thousands-convention check. Implied price per share (value_usd / shares) was computed for every institutional register row for the same 30 June 2026 date: Vanguard's two successor entities, BlackRock, State Street, Bank of America, FMR, Geode, Wellington and all three Capital Group entities cluster tightly between $226.0 and $227.0/share. Cohen & Steers' raw XML value implied $0.227/share (about 1000x low) and T. Rowe Price's raw XML value also implied $0.227/share (about 1000x low); both are rescaled per their own method_notes and reconcile to approximately $227/share, matching the cluster exactly. This is the second REIT in this project where Cohen & Steers has filed in thousands, and confirms the brief's specific warning that T. Rowe Price has done the same on five companies.
• Vanguard case: the 13F-NT successor case. Vanguard Group Inc's own Q2 2026 EDGAR submissions history was checked directly and shows Form 13F-NT filed 13 Aug 2026 (accession 0000102909-26-002714), i.e. a notice filing with no holdings, confirming the successor case (not the single 13F-HR row case). The register row sums Vanguard Capital Management LLC and Vanguard Portfolio Management LLC, the two project-verified successor CIKs. Welltower's 2026 proxy statement independently corroborates the realignment: it reports 'Vanguard subsequently reported that due to an internal realignment it no longer has, or is deemed to have, beneficial ownership over Welltower securities beneficially owned by various subsidiaries and/or business divisions,' consistent with holdings moving to separately-filing successor entities.
• Capital Group: three separate 13F-HR filers, all three holding Welltower. Unlike this project's Prologis file (where Capital World Investors held zero PLD shares), all three project-verified Capital Group CIKs hold Welltower in their own right for Q2 2026: Capital Research Global Investors (6,889,084 sh), Capital International Investors (39,500,055 sh) and Capital World Investors (20,028,842 sh), summed to 66,417,981 shares. This is the family-of-separate-filers case per the brief, not the Vanguard successor case.
• Register reconciliation against the proxy's stale >5% table. Welltower's 2026 proxy statement (beneficial ownership as of 27 Feb 2026, citing older Schedule 13G filings) lists The Vanguard Group at 82,347,104 shares (12%), BlackRock, Inc. at 61,659,473 shares (9%), Capital International Investors at 37,318,686 shares (5%), and State Street Corporation at 35,772,839 shares (5%). This register instead uses each manager's Q2 2026 Form 13F-HR (30 June 2026 position date), which for Vanguard and BlackRock and State Street is meaningfully higher (89,568,542, 78,049,214 and 42,138,810 shares respectively) and for Capital International Investors alone is also higher (39,500,055 vs 37,318,686), consistent with continued accumulation through mid-2026 in a stock that stockanalysis.com shows up 55.5% over the trailing year.
• Market cap and shares outstanding. shares_outstanding (720,744,951) is the Q2 2026 10-Q cover-page figure ('As of July 24, 2026, Welltower Inc. had 720,744,951 shares of common stock outstanding'), which matches stockanalysis.com's independently reported 720.74 million shares outstanding. market_cap_usd is calculated as 720,744,951 x stockanalysis.com's last price of $235.30 on 17 Aug 2026 ($169,591,286,970), which is close to but not identical to stockanalysis.com's own displayed market cap of $169.59 billion (rounding).
• Welltower OP LLC. Welltower Inc. is 'the initial member and majority owner of Welltower OP, with an approximate ownership interest of 98.135% as of June 30, 2026' (Q2 2026 10-Q); all property operations are conducted through this operating partnership. No register row in this file is an OP-unit-based position (every 13F line matched is common stock, CUSIP 95040Q104), so no shares:null OP-unit treatment was required for the register. The residual approximately 1.865% of Welltower OP is held by third parties (historical property contributors); no individual external OP-unit holder was named or sized in the filings checked, so this is listed in unknowns rather than estimated.
• Self-gate check: this register has 11 rows, none marked is_aggregate-with-rolls_up_into overlap (Vanguard's two successor entities and Capital Group's three entities are each pre-summed into one row rather than listed as separate member rows, so no double-count risk within this file). Summing all 11 rows' raw shares gives 405,876,637 against 720,744,951 shares outstanding, or 56.31%. This is slightly above the brief's flagged 15-55% range; re-checked for a double count and found none (each of the 10 institutional names is a genuinely distinct manager, and the two internally-summed families, Vanguard and Capital Group, are each represented by exactly one register row here, not duplicated elsewhere). The high concentration reflects that Welltower's top 5 holders alone (Vanguard, BlackRock, Capital Group, State Street, Cohen & Steers) already total 43.3% of shares outstanding in a large-cap, heavily-institutionally-owned REIT whose share price has risen sharply over the past year; not a detected error.