SPG at a glance
Simon Property Group (SPG, SEC CIK 1063761) filed its latest 10-K annual report on February 25, 2026, a 10-Q quarterly report on August 10, 2026, an 8-K current report on August 10, 2026 and Form 4 insider filings as recently as October 1, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Simon Property Group (SPG) reported revenue of $6.4 billion (up 6.7% from FY2024) and net income of $4.6 billion. Diluted EPS was $14.17.
- As of June 30, 2026, 45 institutional investment managers tracked by SignalX reported holding Simon Property Group (SPG) shares worth $37.4 billion in 13F-HR filings.
- The most recent insider open-market purchase reported on Form 4 was by Smith Daniel C. on September 30, 2026 of 350 shares at $202.78 per share.
- In the last 90 days, SPG insiders reported 11 open-market purchases ($461K) and 0 open-market sales ($0) on Form 4, a net purchase of $461K.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $6.4B
- +6.7% vs prior year
- Insiders · 90 days
- 11 buys · 0 sells
- Net +$461K
- 13F holders
- 45 funds
- $37.4B · +3 vs prior quarter
- Latest 8-K
- Aug 10, 2026
- Item 2.02 · Item 7.01
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Largest US mall REIT: owns/operates 212 domestic income-producing properties (108 malls, 70 Premium Outlets, 16 Mills) plus 42 international properties
- Key 2025 transaction: acquired remaining 12% of TRG on Oct 31, 2025, bringing ownership to 100%; consideration included 8,278,193 Operating Partnership units
- Eli Simon appointed COO in 2025, marking notable leadership formalization of a second-generation Simon family executive
- ~3,600 total employees at Dec 31, 2025; $2.0B stock buyback program renewed Feb 2026, replacing prior $2.0B authorization
- Bought back 2,519,923 shares over past three years at avg $145.81/share for $367.4M total
Management Discussion & Analysis
- Lease income up $449.4M in 2025; diluted EPS $14.17 vs $7.26 in 2024, driven largely by $2.9B non-cash TRG remeasurement gain
- Real Estate FFO $4.81B vs $4.60B in 2024; Real Estate FFO/share $12.73 vs $12.24; Portfolio NOI up 4.7% YoY
- Average base minimum rent up 4.7% to $60.97 psf; U.S. Malls/Premium Outlets occupancy dipped 10 bps to 96.4%
- Cash from operations + unconsolidated distributions $4.5B; dividends/distributions $3.2B; capex $934.3M; buybacks $226.8M (1.25M shares at avg $182.02)
- Key risks: tariff/trade disruption impact on tenants, geopolitical tensions, rising borrowing rate (3.87% vs 3.62%), $5.9B debt maturing in 2026
Risk Factors
- Consolidated debt $28.6B as of Dec 31, 2025; substantial cash flows consumed by debt service limiting growth investment
- International operations in 16 countries including China; tariffs, trade disputes, and FX exposure affecting 9.7% of NOI
- E-commerce competition from Costco, Walmart, Target, and pure-play online retailers threatening physical store demand and overage rent collection
- REIT qualification under IRC Sections 856–860 requires 90% taxable income distribution; failure triggers full corporate tax rate plus potential 4% excise tax
- Key-person dependency on CEO and senior executives operating without employment agreements; loss could disrupt tenant and lender relationships
AI summary of the SPG 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Six-month lease income $541.4M higher YoY, including $386.7M from acquisitions, development, and rent increases
- Portfolio NOI up 7.5% YoY; U.S. Mall and Premium Outlet rent $62.42 per square foot, up 6.3%
- Best performer The Mills rent $42.28 per square foot, up 12.3%; occupancy 98.8% vs 99.3%
- Cash and equivalents increased $195.9M to $1.0B; operating cash flow and unconsolidated distributions totaled $2.3B
- Capital deployment: $1.7B dividends, $445.3M capital expenditures, $336.0M stock repurchases
- Management expects sufficient liquidity for debt maturities and capital needs through 2026; financial-market disruption remains a risk
Risk Factors
- No risk-factors section provided; excerpt contains Items 2–6 only
- Share repurchase authorization changed to $2.0 billion through February 29, 2028
- Simon repurchased 840,258 shares for $169.4 million during the quarter
- Operating Partnership redeemed 237,618 units for $50.7 million
- Audit Committee approved Ernst & Young tax compliance and consulting services under Exchange Act Section 10A(i)(2)
AI summary of the SPG 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 2.02: Results of Operations and Financial Condition
- Earnings release covers quarter ended June 30, 2026
- Exhibit 99.1 contains financial results and other matters material to investors
Item 7.01: Regulation FD Disclosure
- Supplemental financial and operating information covers quarter ended June 30, 2026
- Exhibit 99.1 contains the detailed quarterly disclosure for investor review
Item EX-99.1: Item EX-99.1
- Q2 Real Estate FFO per share rose 7.9% to $3.29, supporting stronger recurring earnings despite lower GAAP net income
- Domestic NOI increased 8.5%, occupancy held at 96.0%, and base rent rose 6.3% to $62.42 per square foot
Item 5.02: Departure/Appointment of Directors or Principal Officers
- Martin J. Cicco appointed to Compensation and Human Capital Committee effective May 13, 2026
- Committee assignment clarifies Cicco’s governance role following February 5, 2026 Board appointment
Item 5.02: Departure/Appointment of Directors or Principal Officers
- CEO Eli Simon awarded $2.5M in 2026 long-term incentive units and restricted stock units
- Award approved May 13, 2026, following his March 23 appointment as CEO and president
AI summaries of SPG 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for SPG
Don't miss the next SPG filing
- Alerts as it files. A push when SPG files an 8-K or an insider trades.
- Fund moves. Which tracked funds opened, added or cut SPG, by share count.
- Ask anything. An AI agent that reads every SPG filing and answers with sources.
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Smith Daniel C. | Buy | Sep 30, 2026 | 350 | $202.78 |
| SELIG STEFAN M | Buy | Sep 30, 2026 | 208 | $202.78 |
| RODKIN GARY M | Buy | Sep 30, 2026 | 232 | $202.78 |
| Roe Peggy | Buy | Sep 30, 2026 | 88 | $202.78 |
| LEWIS RANDALL J | Buy | Sep 30, 2026 | 65 | $202.78 |
| Jones Nina P | Buy | Sep 30, 2026 | 46 | $202.78 |
| Aeppel Glyn | Buy | Sep 30, 2026 | 222 | $202.78 |
| Cicco Martin J | Buy | Sep 30, 2026 | 15 | $202.78 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | $5.7B | $6.0B | $6.4B |
| Operating Income | $2.8B | $3.1B | $3.2B |
| Net Income | $2.3B | $2.4B | $4.6B |
| Op. Margin | 49.6% | 51.9% | 49.9% |
| Net Margin | 40.3% | 39.7% | 72.7% |
| Balance Sheet | |||
| Total Assets | $34.3B | $32.4B | $40.6B |
| Equity | - | $2.9B | $5.2B |
| ROE | - | 80.5% | 88.8% |
| Per Share | |||
| EPS | $6.98 | $7.26 | $14.17 |
| Cash Flow | |||
| Operating CF | $3.9B | $3.8B | $4.1B |
Source: XBRL data in Simon Property Group (SPG)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate SPG share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 45 | $37.38B |
| Q1 2026 | 42 | $30.66B |
| Q4 2025 | 40 | $30.77B |
| Q3 2025 | 42 | $33.10B |
| Q2 2025 | 38 | $27.55B |
| Q1 2025 | 36 | $21.28B |
| Q4 2024 | 31 | $19.30B |
| Q3 2024 | 29 | $10.43B |
- Vanguard Portfolio Management LLC+4.78M (+21%)
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- FMR LLC (Fidelity)+526.3K (+10%)
- BlackRock+455.5K (+1%)
- Two Sigma Investments+372.3K (+1765%)
- JPMorgan Chase & Co−1.40M (-25%)
- Citadel Advisors LLC−989.1K (-87%)
- State Street Corp−574.7K (-3%)
- Millennium Management−542.4K (-75%)
- Principal Financial Group−533.8K (-21%)
Source: 13F-HR filings on SEC EDGAR (aggregated from 303 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
SPG filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Oct 1, 2026 | - | - | - |
| 4 | Oct 1, 2026 | - | - | - |
| 4 | Oct 1, 2026 | - | - | - |
| 4 | Oct 1, 2026 | - | - | - |
| 4 | Oct 1, 2026 | - | - | - |
| 4 | Oct 1, 2026 | - | - | - |
| 4 | Oct 1, 2026 | - | - | - |
| 4 | Oct 1, 2026 | - | - | - |
| 4 | Oct 1, 2026 | - | - | - |
| 4 | Oct 1, 2026 | - | - | - |
| 4 | Oct 1, 2026 | - | - | - |
| 4 | Sep 1, 2026 | - | - | - |
| 4 | Sep 1, 2026 | - | - | - |
| 4 | Sep 1, 2026 | - | - | - |
| 4 | Sep 1, 2026 | - | - | - |
| 4 | Aug 24, 2026 | - | - | - |
| 8-K | Aug 10, 2026 | - | Analysis | - |
| 10-Q | Aug 10, 2026 | Jun 30, 2026 | Analysis | |
| 4 | Jul 1, 2026 | - | - | - |
| 4 | Jul 1, 2026 | - | - | - |
| 4 | Jul 1, 2026 | - | - | - |
| 4 | Jul 1, 2026 | - | - | - |
| 4 | Jul 1, 2026 | - | - | - |
| 4 | Jul 1, 2026 | - | - | - |
| 4 | Jul 1, 2026 | - | - | - |
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SPG SEC filings: frequently asked questions
Are SPG insiders buying or selling?
In the last 90 days, Simon Property Group (SPG) officers, directors and 10% owners reported 11 open-market purchases worth $460,716 by 11 insiders and no open-market sales on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold SPG stock?
As of June 30, 2026, the largest Simon Property Group (SPG) holders among the 13F filers tracked by SignalX were BlackRock ($8.3 billion), Vanguard Portfolio Management LLC ($6.2 billion), Vanguard Capital Management LLC ($4.6 billion), State Street Corp ($4.6 billion), Bank of America Corp ($1.8 billion). 13F-HR reports are filed up to 45 days after each quarter ends.
What was SPG's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Simon Property Group (SPG) reported revenue of $6.4 billion (up 6.7% from FY2024) and net income of $4.6 billion. Diluted EPS was $14.17. The figures come from the XBRL data in the 10-K.
What are the main risks in SPG's latest 10-K?
In the 10-K filed February 25, 2026, Simon Property Group (SPG) flagged: Consolidated debt $28.6B as of Dec 31, 2025; substantial cash flows consumed by debt service limiting growth investment. International operations in 16 countries including China; tariffs, trade disputes, and FX exposure affecting 9.7% of NOI. (AI summary of the Risk Factors section.)
What did SPG report in its latest 8-K?
Simon Property Group (SPG) filed an 8-K on August 10, 2026 reporting Item 2.02 (Results of Operations and Financial Condition) and Item 7.01 (Regulation FD Disclosure). Earnings release covers quarter ended June 30, 2026.
What are the latest SPG SEC filings?
Simon Property Group (SPG) filed its latest 10-K annual report on February 25, 2026, a 10-Q quarterly report on August 10, 2026, an 8-K current report on August 10, 2026 and a Form 4 insider filing on October 1, 2026.
What is SPG's SEC CIK number?
Simon Property Group (SPG)'s SEC Central Index Key (CIK) is 1063761. EDGAR lists every SPG filing under that number.
Ask anything about SPG
The research agent reads SPG's filings, financials, insider trades and 13F holders, then answers with sources.