--- title: "What to Know About This Fund's $61 Million Self-Storage Bet as a $10.5 Billion Deal Nears" type: "News" locale: "en" url: "https://longbridge.com/en/news/287442104.md" description: "First Trust Capital Management acquired 1,814,200 shares of National Storage Affiliates Trust for approximately $61.29 million, representing 3.6% of its assets under management. The investment coincides with NSA's planned $10.5 billion acquisition by Public Storage. NSA's first-quarter net income rose 42% year-over-year, and its stock price has increased by 26% over the past year. However, it was not listed among the top 10 stocks recommended by The Motley Fool." datetime: "2026-05-23T23:05:19.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/287442104.md) - [en](https://longbridge.com/en/news/287442104.md) - [zh-HK](https://longbridge.com/zh-HK/news/287442104.md) --- # What to Know About This Fund's $61 Million Self-Storage Bet as a $10.5 Billion Deal Nears ## Key Points - First Trust Capital Management bought 1,814,200 shares of National Storage Affiliates last quarter; the estimated trade size was $61.29 million based on quarterly average pricing. - Meanwhile, the quarter-end position value was $68.47 million, representing a new holding. - NSA now represents 3.6% of the fund’s AUM, placing it outside the top five holdings. - 10 stocks we like better than National Storage Affiliates Trust › First Trust Capital Management established a new position in **National Storage Affiliates Trust** (NYSE:NSA) during the first quarter, buying an estimated $61.29 million in shares based on average quarterly pricing, according to a May 14, 2026, SEC filing. ## What happened According to an SEC filing dated May 14, 2026, First Trust Capital Management L.P. reported a new position in National Storage Affiliates Trust, acquiring 1,814,200 shares. The estimated transaction value was $61.29 million, calculated using the average closing price for the quarter ending March 31, 2026. The stake’s quarter-end value was $68.47 million, a figure that incorporates both trading activity and changes in the stock’s price. ## What else to know - This was a new position for the fund, representing 3.6% of its 13F assets under management after the trade. - Top holdings post-filing: - NYSE:GTLS: $130.63 million (6.9% of AUM) - NASDAQ:HOLX: $100.38 million (5.3% of AUM) - NYSE:SEE: $98.23 million (5.2% of AUM) - NASDAQ:MASI: $85.27 million (4.5% of AUM) - NASDAQ:EA: $82.77 million (4.3% of AUM) - As of Friday, NSA shares were priced at $42.71, up about 26% over the past year, which is roughly in line with the S&P 500’s roughly 28% gain in the same period. ## Company overview Metric Value Revenue (TTM) $749.98 million Net Income (TTM) $78.57 million Dividend Yield 5% Price (as of Friday) $42.71 ## Company snapshot - NSA operates and acquires self-storage properties across major U.S. metropolitan areas, generating revenue from rental income and related services. - The firm employs a real estate investment trust (REIT) model, aggregating and managing a diversified portfolio of storage assets to drive recurring cash flow and scale efficiencies. - It serves individuals, small businesses, and commercial clients seeking secure, flexible storage solutions in key growth markets. National Storage Affiliates Trust is a leading self storage REIT with a substantial footprint in the United States, focusing on ownership and operation of properties in high-demand metropolitan areas. ## What this transaction means for investors First Trust appears to be buying into a self-storage REIT that already has a defined catalyst on the horizon: its planned acquisition by Public Storage in a transaction valued at roughly $10.5 billion. The acquisition was announced in mid-March, so it’s not clear whether First Trust bought in before or after, but holding onto the position at quarter’s end suggests conviction through at least then. Meanwhile, National Storage Affiliates has been producing respectable operating results. First-quarter net income climbed 42% year over year to $27.7 million, while Core FFO per share increased 5.6% to $0.57. Same-store NOI rose 2.0%, helped by lower operating expenses and improving occupancy, which reached 84.5% at quarter end and 84.9% by April 30. In the earnings release, management highlighted the pending Public Storage merger as the reason it would discontinue formal guidance because of the transaction. For long-term investors, the takeaway is straightforward. This is less a bet on explosive growth and more a wager that a high-quality portfolio of 1,061 storage properties across 37 states will successfully make it across the finish line of a major industry consolidation deal. ## Should you buy stock in National Storage Affiliates Trust right now? Before you buy stock in National Storage Affiliates Trust, consider this: The _Motley Fool Stock Advisor_ analyst team just identified what they believe are the **10 best stocks** for investors to buy now… and National Storage Affiliates Trust wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when **Netflix** made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, **you’d have $477,813**!\* Or when **Nvidia** made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, **you’d have $1,320,088**!\* Now, it’s worth noting _Stock Advisor’s_ total average return is 986% — a market-crushing outperformance compared to 208% for the S&P 500. **Don't miss the latest top 10 list, available with _Stock Advisor_, and join an investing community built by individual investors for individual investors.** See the 10 stocks » _\*Stock Advisor returns as of May 23, 2026._ _Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Chart Industries and Masimo. The Motley Fool recommends Electronic Arts. The Motley Fool has a disclosure policy._ The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. ### Related Stocks - [PSA.US](https://longbridge.com/en/quote/PSA.US.md) - [NSA.US](https://longbridge.com/en/quote/NSA.US.md) - [GTLS.US](https://longbridge.com/en/quote/GTLS.US.md) - [HOLX.US](https://longbridge.com/en/quote/HOLX.US.md) - [SEE.US](https://longbridge.com/en/quote/SEE.US.md) - [MASI.US](https://longbridge.com/en/quote/MASI.US.md) - [EA.US](https://longbridge.com/en/quote/EA.US.md) - [.SPX.US](https://longbridge.com/en/quote/.SPX.US.md) - [NFLX.US](https://longbridge.com/en/quote/NFLX.US.md) - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) - [GTLS-B.US](https://longbridge.com/en/quote/GTLS-B.US.md) - [PSA-H.US](https://longbridge.com/en/quote/PSA-H.US.md) - [PSA-I.US](https://longbridge.com/en/quote/PSA-I.US.md) - [PSA-N.US](https://longbridge.com/en/quote/PSA-N.US.md) - [PSA-Q.US](https://longbridge.com/en/quote/PSA-Q.US.md) - [PSA-K.US](https://longbridge.com/en/quote/PSA-K.US.md) - [PSA-P.US](https://longbridge.com/en/quote/PSA-P.US.md) - [PSA-S.US](https://longbridge.com/en/quote/PSA-S.US.md) - [PSA-J.US](https://longbridge.com/en/quote/PSA-J.US.md) - [PSA-R.US](https://longbridge.com/en/quote/PSA-R.US.md) - [PSA-F.US](https://longbridge.com/en/quote/PSA-F.US.md) - [PSA-O.US](https://longbridge.com/en/quote/PSA-O.US.md) - [PSA-M.US](https://longbridge.com/en/quote/PSA-M.US.md) - [PSA-G.US](https://longbridge.com/en/quote/PSA-G.US.md) - [PSA-L.US](https://longbridge.com/en/quote/PSA-L.US.md) - [NVD.DE](https://longbridge.com/en/quote/NVD.DE.md) ## Related News & Research - [Public Storage $PSA Position Lifted by Longfellow Investment Management Co. 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