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LPC

Long Pond Capital Portfolio holdings

AUM $1.05B
1-Year Est. Return 16.49%
This Fund
S&P 500
This Quarter Est. Return
+3.96%
1 Year Est. Return
-16.49%
3 Year Est. Return
-22.94%
5 Year Est. Return
-43.76%
10 Year Est. Return
-51.53%
AUM
$1.01B
AUM Growth
-$34.2M
Cap. Flow
-$58.6M
Cap. Flow %
-5.83%
Top 10 Hldgs %
66.05%
Holding
45
New
14
Increased
6
Reduced
7
Closed
17

Top Buys

Rank Stock Value
1
SFR
Starwood Waypoint Homes
SFR
+$85.9M
2
AMH icon
American Homes 4 Rent
AMH
+$51.8M
3
AMT icon
American Tower
AMT
+$51.2M
4
MHK icon
Mohawk Industries
MHK
+$41.5M
5
GRT
GLIMCHER REALTY TRUST
GRT
+$36.5M

Top Sells

Rank Stock Value
1
AAMC
Altisource Asset Management Corp
AAMC
+$118M
2
TCO
Taubman Centers Inc.
TCO
+$64.4M
3
VRE
Veris Residential
VRE
+$47M
4
NRF
NorthStar Realty Finance Corp.
NRF
+$45.6M
5
MFA
MFA Financial
MFA
+$34.4M

Sector Composition

Rank Sector Weight
1 Real Estate 54.18%
2 Consumer Discretionary 22.22%
3 Financials 7.72%
4 Industrials 3.34%
5 Communication Services 3.31%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VRE
26
DELISTED
Veris Residential
VRE
$3.23M 0.32%
155,476
-2,233,130
-93% -$47M
PENN icon
27
PENN Entertainment
PENN
$2.75B
$494K 0.05%
+40,100
New +$495K
EQC
28
PUT
DELISTED
Equity Commonwealth
EQC
$50K 0.01%
+500,000
New +$12.8M
AVB icon
29
AvalonBay Communities
AVB
$26.5B
– –
-211,000
Closed -$24.9M
BKD icon
30
Brookdale Senior Living
BKD
$3.49B
– –
-360,000
Closed -$9.79M
CX icon
31
Cemex
CX
$17.1B
– –
-1,997,907
Closed -$20.2M
DHI icon
32
D.R. Horton
DHI
$40B
– –
-916,708
Closed -$20.5M
ELS icon
33
Equity Lifestyle Properties
ELS
$12.6B
– –
-598,832
Closed -$10.8M
EQR icon
34
Equity Residential
EQR
$24.9B
– –
-470,000
Closed -$24.4M
HOUS
35
DELISTED
Anywhere Real Estate
HOUS
– –
-306,957
Closed -$15.2M
LEN icon
36
Lennar Class A
LEN
$19.8B
– –
-654,302
Closed -$24.6M
MFA
37
MFA Financial
MFA
$926M
– –
-1,216,449
Closed -$34.4M
PMT
38
PennyMac Mortgage Investment
PMT
$822M
– –
-9,290
Closed -$213K
AAMC
39
DELISTED
Altisource Asset Management Corp
AAMC
– –
-215,417
Closed -$118M
TCO
40
DELISTED
Taubman Centers Inc.
TCO
– –
-1,007,514
Closed -$64.4M
EDR
41
DELISTED
Education Realty Trust Inc
EDR
– –
-1,010,117
Closed -$26.7M
SBY
42
DELISTED
Silver Bay Realty Trust Corp.
SBY
– –
-1,222,996
Closed -$19.6M
NRF
43
DELISTED
NorthStar Realty Finance Corp.
NRF
– –
-1,724,859
Closed -$45.6M
PPS
44
DELISTED
Post Properties
PPS
– –
-343,700
Closed -$15.5M
PEI
45
DELISTED
Pennsylvania Real Estate Investment Trust
PEI
– –
-23,667
Closed -$6.74M
1
2

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Long Pond Capital's Q1 2014 Portfolio in Review

As of Q1 2014, Long Pond Capital held 45 positions worth $1.01B, down 3.3% from $1.04B the previous quarter. Its ten largest holdings account for 66% of the portfolio.

Long Pond Capital withdrew a net $58.6M in Q1 2014, closing 17 positions and reducing 7 holdings. Its most notable exit was Altisource Asset Management Corp, an estimated $118M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 54% of assets, down from 65% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Long Pond Capital opened a new position in Starwood Waypoint Homes worth $87.7M.

  • Long Pond Capital's largest Q1 2014 buy was Starwood Waypoint Homes: 3,045,296 shares worth $87.7M.
  • Long Pond Capital added most to American Homes 4 Rent in Q1 2014, an estimated $51.8M increase.
  • Long Pond Capital's biggest Q1 2014 reduction was Veris Residential, cutting an estimated $47M.
  • Long Pond Capital fully exited Altisource Asset Management Corp in Q1 2014, selling an estimated $118M.
  • Long Pond Capital's ten largest holdings make up 66% of its $1.01B portfolio in Q1 2014.
  • Long Pond Capital opened 14 new positions and closed 17 in Q1 2014.
  • Long Pond Capital's portfolio value fell 3.3% quarter-over-quarter to $1.01B.

Based on Long Pond Capital's 13F filing for Q1 2014, filed 15 May 2014.