Agree Realty Corporation
MX ˙ BMV ˙ US0084921008
SecurityMX:ADC / Agree Realty Corporation
InstitutionUniplan Investment Counsel, Inc.
Latest Disclosed Ownership143,159 shares
Latest Disclosed Value $ 10,791,398
Uniplan Investment Counsel, Inc. reports 13.97% increase in ownership of ADC / Agree Realty Corporation

On May 15, 2026 - Uniplan Investment Counsel, Inc. filed a 13F-HR form disclosing ownership of 143,159 shares of Agree Realty Corporation (MX:ADC) valued at $10,791,398 USD as of March 31, 2026. The entity filed a previous 13F-HR/A on February 17, 2026 disclosing 125,613 shares of Agree Realty Corporation. This represents a change in shares of 13.97% 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)
2026-05-15 2026-03-31 13F Agree Realty COM 008492100 143,159 17,546 13.97 10,791 19.28 0.7515
2026-02-17 2025-12-31 13F/A-1 Agree Realty COM 008492100 125,613 -3,261 -2.53 9,048 -1.18 0.9085
2026-02-17 2025-12-31 13F Agree Realty COM 008492100 21,408 -107,466 1,542 0.3044
2025-11-14 2025-09-30 13F Agree Realty COM 008492100 128,874 549 0.43 9,155 -2.35 0.8969
2025-08-14 2025-06-30 13F Agree Realty COM 008492100 128,325 -2,529 -1.93 9,375 -7.18 0.9484
2025-05-15 2025-03-31 13F Agree Realty COM 008492100 130,854 -8,483 -6.09 10,101 2.89 0.9828
2025-02-14 2024-12-31 13F Agree Realty COM 008492100 139,337 -2,995 -2.10 9,816 -8.44 0.9123
2024-11-14 2024-09-30 13F Agree Realty COM 008492100 142,332 -12,785 -8.24 10,722 119,022.22 0.9355
2024-08-14 2024-06-30 13F Agree Realty COM 008492100 155,117 -28,539 -15.54 10 -10.00 0.8736
2024-05-15 2024-03-31 13F Agree Realty COM 008492100 183,656 -7,159 -3.75 10 -16.67 0.8241
2024-02-14 2023-12-31 13F AGREE REALTY COM 008492100 190,815 -20,619 -9.75 12 9.09 0.8999
2023-11-14 2023-09-30 13F AGREE REALTY COM 008492100 211,434 4,766 2.31 12 -15.38 0.8947
2023-08-14 2023-06-30 13F AGREE REALTY COM 008492100 206,668 -9,254 -4.29 14 -7.14 0.9822
2023-05-15 2023-03-31 13F AGREE REALTY COM 008492100 215,922 -1,413 -0.65 15 -6.67 1.0454
2023-02-14 2022-12-31 13F AGREE REALTY COM 008492100 217,335 -8,995 -3.97 15 -99.90 1.0958
2022-11-14 2022-09-30 13F AGREE REALTY COM 008492100 226,330 123,716 120.56 15,295 106.66 1.1729
2022-08-15 2022-06-30 13F AGREE REALTY COM 008492100 102,614 3,134 3.15 7,401 12.12 0.5154
2022-05-16 2022-03-31 13F AGREE REALTY COM 008492100 99,480 1,250 1.27 6,601 -5.82 0.3888
2022-02-14 2021-12-31 13F AGREE REALTY COM 008492100 98,230 -305,356 -75.66 7,009 -73.78 0.3919
2021-11-15 2021-09-30 13F AGREE REALTY COM 008492100 403,586 7,026 1.77 26,729 -4.38 1.6425
2021-08-13 2021-06-30 13F AGREE REALTY COM 008492100 396,560 -16,229 -3.93 27,953 0.61 1.6441
2021-05-14 2021-03-31 13F AGREE REALTY COM 008492100 412,789 -112 -0.03 27,784 1.07 1.7792
2021-02-12 2020-12-31 13F AGREE REALTY COM 008492100 412,901 -31,168 -7.02 27,491 -2.72 1.8776
2020-11-13 2020-09-30 13F AGREE REALTY COM 008492100 444,069 -2,566 -0.57 28,260 -3.71 1.9712
2020-08-14 2020-06-30 13F AGREE REALTY COM 008492100 446,635 -23,943 -5.09 29,348 0.76 2.0443
2020-05-15 2020-03-31 13F AGREE REALTY COM 008492100 470,578 36,312 8.36 29,128 -4.41 2.1938
2020-02-14 2019-12-31 13F AGREE REALTY COM 008492100 434,266 -1,867 -0.43 30,472 -4.49 1.8058
2019-11-14 2019-09-30 13F AGREE REALTY COM 008492100 436,133 -23,276 -5.07 31,903 8.42 1.9814
2019-08-14 2019-06-30 13F AGREE REALTY COM 008492100 459,409 510 0.11 29,425 -7.53 1.8633
2019-05-15 2019-03-31 13F AGREE REALTY COM 008492100 458,899 -22,978 -4.77 31,820 11.70 2.0173
2019-02-14 2018-12-31 13F AGREE REALTY COM 008492100 481,877 -28,828 -5.64 28,488 5.01 1.9610
2018-11-13 2018-09-30 13F AGREE REALTY COM 008492100 510,705 -69,821 -12.03 27,128 -11.44 1.5795
2018-08-14 2018-06-30 13F AGREE REALTY COM 008492100 580,526 -61,674 -9.60 30,634 -0.62 1.4989
2018-05-14 2018-03-31 13F AGREE REALTY COM 008492100 642,200 227,737 54.95 30,825 44.58 1.4449
2018-02-13 2017-12-31 13F Agree Realty COM 008492100 414,463 11,107 2.75 21,320 7.70 0.8699
2017-11-14 2017-09-30 13F Agree Realty COM 008492100 403,356 8,196 2.07 19,796 9.21 0.8362
2017-08-15 2017-06-30 13F/A-1 Agree Realty COM 008492100 395,160 5,432 1.39 18,126 -3.02 0.7963
2017-08-10 2017-06-30 13F Agree Realty COM 008492100 389,728 0 18,126
2017-05-12 2017-03-31 13F Agree Realty COM 008492100 389,728 20,478 5.55 18,691 9.92 0.8467
2017-02-14 2016-12-31 13F Agree Realty COM 008492100 369,250 -39,410 -9.64 17,004 -15.84 0.7729
2016-11-10 2016-09-30 13F Agree Realty COM 008492100 408,660 -10,312 -2.46 20,204 -0.03 0.9091
2016-08-11 2016-06-30 13F Agree Realty COM 008492100 418,972 -35,871 -7.89 20,211 30.50 0.9148
2016-05-13 2016-03-31 13F AGREE REALTY COM 008492100 454,843 1 0.00 15,487 0.00 0.7617
2016-02-11 2015-12-31 13F AGREE REALTY COM 008492100 454,842 88 0.02 15,487 14.09 0.7522
2015-11-09 2015-09-30 13F AGREE REALTY COM 008492100 454,754 -5,753 -1.25 13,574 1.05 0.6548
2015-08-07 2015-06-30 13F AGREE REALTY COM 008492100 460,507 460,507 13,433 0.6110
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.