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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
-1.28%
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
$3.84B
AUM Growth
-$699M
(-15%)
Cap. Flow
-$680M
Cap. Flow
% of AUM
-17.72%
Top 10 Holdings %
Top 10 Hldgs %
64.29%
Holding
51
New
10
Increased
8
Reduced
15
Closed
12
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Hilton Worldwide
HLT
|
+$281M |
| 2 |
MGM Resorts International
MGM
|
+$97.8M |
| 3 |
Wyndham Hotels & Resorts
WH
|
+$94.2M |
| 4 |
Hilton Grand Vacations
HGV
|
+$81.8M |
| 5 |
TMHC
Taylor Morrison
TMHC
|
+$49.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AvalonBay Communities
AVB
|
+$110M |
| 2 |
American Homes 4 Rent
AMH
|
+$108M |
| 3 |
Mohawk Industries
MHK
|
+$87.8M |
| 4 |
QCP
Quality Care Properties, Inc.
QCP
|
+$80.5M |
| 5 |
AIV
Aimco
AIV
|
+$78.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 52.66% |
| 2 | Real Estate | 34.31% |
| 3 | Materials | 1.02% |
| 4 | Financials | 0.34% |
| 5 | Technology | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Five Point Holdings
FPH
$376M
| $38.1M | 0.99% |
4,046,380
+399,187
| +11% | +$4.39M |
|
|
HPP
27
Hudson Pacific Properties
HPP
$747M
| $37.2M | 0.97% |
+162,620
| New | +$38.2M |
|
28
Century Communities
CCS
$1.91B
| $34.6M | 0.9% |
+1,317,769
| New | +$39.4M |
|
|
BEL
29
DELISTED
Belmond Ltd.
BEL
| $32.6M | 0.85% |
1,788,467
+1,390,619
| +350% | +$19.9M |
|
30
Meritage Homes
MTH
$4.58B
| $28M | 0.73% |
+1,405,926
| New | +$30.6M |
|
31
Pebblebrook Hotel Trust
PEB
$2.15B
| $27.8M | 0.73% |
765,000
-246,389
| -24% | -$9.4M |
|
|
32
AvalonBay Communities
AVB
$26.5B
| $26.9M | 0.7% |
148,609
-616,047
| -81% | -$110M |
|
33
Hyatt Hotels
H
$16.4B
| $26.5M | 0.69% |
333,347
| – | – |
|
|
TCO
34
DELISTED
Taubman Centers Inc.
TCO
| $25.8M | 0.67% |
431,094
-897,981
| -68% | -$55.4M |
|
|
WLH
35
DELISTED
WILLIAM LYON HOMES
WLH
| $21.1M | 0.55% |
+1,325,187
| New | +$27.6M |
|
36
Macerich
MAC
$7.33B
| $20.7M | 0.54% |
375,100
-134,200
| -26% | -$7.73M |
|
37
PennyMac Financial
PFSI
$3.92B
| $13.1M | 0.34% |
625,000
| – | – |
|
|
PLYA
38
DELISTED
Playa Hotels & Resorts
PLYA
| $4.34M | 0.11% |
+451,029
| New | +$4.62M |
|
39
Lennar Class B
LEN.B
$19.4B
| $2.86M | 0.07% |
+78,119
| New | +$3.16M |
|
40
Carnival Corporation Ltd
CCL
$38.1B
| – | – |
-895,288
| Closed | -$51.3M |
|
41
Choice Hotels
CHH
$5.07B
| – | – |
-325,914
| Closed | -$24.6M |
|
42
Healthcare Realty
HR
$7.28B
| – | – |
-1,901,849
| Closed | -$51.3M |
|
43
Lowe's Companies
LOW
$117B
| – | – |
-208,968
| Closed | -$20M |
|
44
Prologis
PLD
$135B
| – | – |
-989,700
| Closed | -$65M |
|
45
SL Green Realty
SLG
$3.76B
| – | – |
-800,096
| Closed | -$77.9M |
|
46
Marriott Vacations Worldwide
VAC
$3.35B
| – | – |
-221,743
| Closed | -$25M |
|
47
VICI Properties
VICI
$29B
| – | – |
-1,891,894
| Closed | -$39M |
|
|
BKI
48
DELISTED
Black Knight, Inc. Common Stock
BKI
| – | – |
-502,194
| Closed | -$26.9M |
|
|
STAY
49
DELISTED
Extended Stay America, Inc. Paired Share Unit
STAY
| – | – |
-871,805
| Closed | -$18.8M |
|
|
NYRT
50
DELISTED
New York REIT, Inc.
NYRT
| – | – |
-710,760
| Closed | -$13M |
|
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Long Pond Capital's Q3 2018 Portfolio in Review
As of Q3 2018, Long Pond Capital held 51 positions worth $3.84B, down 15% from $4.54B the previous quarter. Its ten largest holdings account for 64% of the portfolio.
Long Pond Capital withdrew a net $680M in Q3 2018, closing 12 positions and reducing 15 holdings. Its most notable exit was Quality Care Properties, Inc., an estimated $80.5M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 53% of assets, up from 36% a quarter earlier, followed by Real Estate and Materials.
Against the trend, Long Pond Capital opened a new position in MGM Resorts International worth $94.1M.
- Long Pond Capital's largest Q3 2018 buy was MGM Resorts International: 3,372,216 shares worth $94.1M.
- Long Pond Capital added most to Hilton Worldwide in Q3 2018, an estimated $281M increase.
- Long Pond Capital's biggest Q3 2018 reduction was AvalonBay Communities, cutting an estimated $110M.
- Long Pond Capital fully exited Quality Care Properties, Inc. in Q3 2018, selling an estimated $80.5M.
- Long Pond Capital's ten largest holdings make up 64% of its $3.84B portfolio in Q3 2018.
- Long Pond Capital opened 10 new positions and closed 12 in Q3 2018.
- Long Pond Capital's portfolio value fell 15% quarter-over-quarter to $3.84B.
Based on Long Pond Capital's 13F filing for Q3 2018, filed 14 Nov 2018.