Agree Realty Corporation
MX ˙ BMV ˙ US0084921008
SecurityMX:ADC / Agree Realty Corporation
InstitutionPrincipal Financial Group Inc
Latest Disclosed Ownership4,526,088 shares
Latest Disclosed Value $ 341,180,058
Principal Financial Group Inc reports 5.42% increase in ownership of ADC / Agree Realty Corporation

On May 4, 2026 - Principal Financial Group Inc filed a 13F-HR form disclosing ownership of 4,526,088 shares of Agree Realty Corporation (MX:ADC) valued at $341,180,058 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 2, 2026 disclosing 4,293,556 shares of Agree Realty Corporation. This represents a change in shares of 5.42% during the quarter.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-04 2026-03-31 13F AGREE RLTY COM 008492100 4,526,088 232,532 5.42 341,180 10.32 0.1822
2026-02-02 2025-12-31 13F AGREE RLTY COM 008492100 4,293,556 1,918,427 80.77 309,266 83.29 0.1579
2025-11-04 2025-09-30 13F AGREE RLTY COM 008492100 2,375,129 -128,131 -5.12 168,730 -7.74 0.0851
2025-08-08 2025-06-30 13F AGREE RLTY COM 008492100 2,503,260 -166,073 -6.22 182,889 -11.24 0.0967
2025-04-28 2025-03-31 13F AGREE RLTY COM 008492100 2,669,333 -58,986 -2.16 206,046 7.19 0.1156
2025-01-31 2024-12-31 13F AGREE RLTY COM 008492100 2,728,319 -1,458,530 -34.84 192,216 -39.05 0.1048
2024-10-31 2024-09-30 13F AGREE RLTY COM 008492100 4,186,849 -408,853 -8.90 315,390 10.80 0.1737
2024-07-29 2024-06-30 13F AGREE RLTY COM 008492100 4,595,702 -1,081,069 -19.04 284,658 -12.21 0.1690
2024-04-29 2024-03-31 13F AGREE RLTY COM 008492100 5,676,771 -983,894 -14.77 324,257 -22.66 0.1906
2024-02-07 2023-12-31 13F AGREE RLTY COM 008492100 6,660,665 719,430 12.11 419,289 27.76 0.2673
2023-11-02 2023-09-30 13F AGREE RLTY COM 008492100 5,941,235 25,723 0.43 328,190 -15.16 0.2358
2023-08-07 2023-06-30 13F AGREE RLTY COM 008492100 5,915,512 119,750 2.07 386,818 -2.72 0.2644
2023-05-09 2023-03-31 13F AGREE RLTY COM 008492100 5,795,762 81,186 1.42 397,646 -1.90 0.2843
2023-02-09 2022-12-31 13F AGREE RLTY COM 008492100 5,714,576 -612,528 -9.68 405,335 -5.20 0.3052
2022-11-09 2022-09-30 13F AGREE RLTY COM 008492100 6,327,104 137,517 2.22 427,581 -4.23 0.3398
2022-08-10 2022-06-30 13F AGREE RLTY COM 008492100 6,189,587 189,822 3.16 446,456 12.13 0.3303
2022-05-09 2022-03-31 13F AGREE RLTY COM 008492100 5,999,765 237,186 4.12 398,144 -2.98 0.1580
2022-05-09 2022-03-31 13F AGREE RLTY COM 008492100 5,994,180 397,773
2022-02-09 2021-12-31 13F AGREE RLTY COM 008492100 5,762,579 155,270 2.77 410,379 10.50 0.2450
2021-11-09 2021-09-30 13F AGREE RLTY COM 008492100 5,607,309 -864,728 -13.36 371,373 -18.60 0.2422
2021-08-10 2021-06-30 13F AGREE RLTY COM 008492100 6,472,037 726,359 12.64 456,213 17.96 0.2948
2021-05-10 2021-03-31 13F AGREE REALTY COM 008492100 5,745,678 2,529,019 78.62 386,741 80.58 0.2729
2021-02-23 2020-12-31 13F/A-1 AGREE REALTY COM 008492100 3,216,659 1,504,605 87.88 214,163 96.56 0.1586
2021-02-08 2020-12-31 13F AGREE REALTY COM 008492100 3,216,704 1,504,650 214,166 84,256.2049
2020-11-06 2020-09-30 13F AGREE REALTY COM 008492100 1,712,054 -65,807 -3.70 108,956 -6.73 0.0917
2020-08-05 2020-06-30 13F AGREE REALTY COM 008492100 1,777,861 351,920 24.68 116,823 32.35 0.1036
2020-05-12 2020-03-31 13F AGREE REALTY COM 008492100 1,425,941 -14,620 -1.01 88,266 -12.68 0.0977
2020-02-05 2019-12-31 13F AGREE REALTY COM 008492100 1,440,561 -31,537 -2.14 101,085 -6.13 0.0842
2019-11-13 2019-09-30 13F AGREE REALTY COM 008492100 1,472,098 -49,986 -3.28 107,684 10.46 0.0949
2019-08-12 2019-06-30 13F AGREE REALTY COM 008492100 1,522,084 -15,779 -1.03 97,489 -8.58 0.0877
2019-05-10 2019-03-31 13F AGREE REALTY COM 008492100 1,537,863 22,990 1.52 106,635 19.07 0.0993
2019-02-14 2018-12-31 13F AGREE REALTY COM 008492100 1,514,873 -40,155 -2.58 89,559 8.42 0.0954
2018-11-14 2018-09-30 13F AGREE REALTY COM 008492100 1,555,028 -51,576 -3.21 82,603 -2.57 0.0728
2018-08-13 2018-06-30 13F AGREE REALTY COM 008492100 1,606,604 255,216 18.89 84,779 30.59 0.0779
2018-05-14 2018-03-31 13F AGREE REALTY COM 008492100 1,351,388 429,009 46.51 64,922 36.83 0.0624
2018-02-12 2017-12-31 13F AGREE REALTY COM 008492100 922,379 4,017 0.44 47,447 5.26 0.0437
2017-11-02 2017-09-30 13F AGREE REALTY COM 008492100 918,362 -19,617 -2.09 45,074 4.76 0.0437
2017-08-08 2017-06-30 13F AGREE REALTY COM 008492100 937,979 -217,809 -18.85 43,026 -22.38 0.0431
2017-05-11 2017-03-31 13F AGREE REALTY COM 008492100 1,155,788 -30,920 -2.61 55,432 1.43 0.0667
2017-02-13 2016-12-31 13F AGREE REALTY COM 008492100 1,186,708 498,667 72.48 54,648 60.65 0.0693
2016-11-10 2016-09-30 13F AGREE REALTY COM 008492100 688,041 -46,670 -6.35 34,017 -4.02 0.0449
2016-08-09 2016-06-30 13F AGREE REALTY COM 008492100 734,711 193,993 35.88 35,443 70.38 0.0494
2016-05-10 2016-03-31 13F AGREE REALTY COM 008492100 540,718 -107,283 -16.56 20,802 -5.55 0.0302
2016-02-09 2015-12-31 13F AGREE REALTY COM 008492100 648,001 -80,334 -11.03 22,025 1.31 0.0327
2015-11-12 2015-09-30 13F/A-1 AGREE REALTY COM 008492100 728,335 36,548 5.28 21,741 7.74 0.0342
2015-11-09 2015-09-30 13F AGREE REALTY COM 008492100 728,335 21,741
2015-08-10 2015-06-30 13F AGREE REALTY COM 008492100 691,787 325,482 88.86 20,180 67.09 0.0301
2015-05-14 2015-03-31 13F/A-1 AGREE REALTY COM 008492100 366,305 -195,968 -34.85 12,077 -30.91 0.0180
2015-05-12 2015-03-31 13F AGREE REALTY COM 008492100 366,305 12,077
2015-02-12 2014-12-31 13F AGREE REALTY COM 008492100 562,273 113,456 25.28 17,481 42.25 0.0272
2014-11-13 2014-09-30 13F AGREE REALTY COM 008492100 448,817 143,056 46.79 12,289 32.95 0.0208
2014-08-12 2014-06-30 13F AGREE REALTY COM 008492100 305,761 32,462 11.88 9,243 11.21 0.0155
2014-05-13 2014-03-31 13F AGREE REALTY COM 008492100 273,299 35,832 15.09 8,311 20.61 0.0148
2014-02-12 2013-12-31 13F AGREE REALTY COM 008492100 237,467 82,744 53.48 6,891 47.56 0.0129
2013-11-05 2013-09-30 13F AGREE REALTY COM 008492100 154,723 102,882 198.46 4,670 205.23 0.0096
2013-08-12 2013-06-30 13F AGREE REALTY COM 008492100 51,841 51,841 1,530 0.0034
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.