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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
+14.3%
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
$1.04B
AUM Growth
+$397M
(+62%)
Cap. Flow
+$278M
Cap. Flow
% of AUM
26.75%
Top 10 Holdings %
Top 10 Hldgs %
63.87%
Holding
38
New
16
Increased
8
Reduced
7
Closed
7
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
American Homes 4 Rent
AMH
|
+$77.6M |
| 2 |
CBRE Group
CBRE
|
+$64.9M |
| 3 |
VRE
Veris Residential
VRE
|
+$50.1M |
| 4 |
TCO
Taubman Centers Inc.
TCO
|
+$47.2M |
| 5 |
MFA
MFA Financial
MFA
|
+$35.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AAMC
Altisource Asset Management Corp
AAMC
|
+$61.6M |
| 2 |
HOUS
Anywhere Real Estate
HOUS
|
+$54.4M |
| 3 |
Starwood Property Trust
STWD
|
+$41.7M |
| 4 |
Owens Corning
OC
|
+$30.7M |
| 5 |
Crown Castle
CCI
|
+$27.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 64.68% |
| 2 | Consumer Discretionary | 13.72% |
| 3 | Financials | 6.68% |
| 4 | Materials | 3.51% |
| 5 | Industrials | 1.38% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
AAMC
1
DELISTED
Altisource Asset Management Corp
AAMC
| $118M | 11.33% |
215,417
-144,361
| -40% | -$61.6M |
|
2
Blackstone Mortgage Trust
BXMT
$2.45B
| $78.5M | 7.55% |
2,894,151
+295,000
| +11% | +$7.55M |
|
|
3
American Homes 4 Rent
AMH
$12B
| $78.3M | 7.53% |
+4,832,586
| New | +$77.6M |
|
|
4
CBRE Group
CBRE
$42.3B
| $71.7M | 6.9% |
+2,727,133
| New | +$64.9M |
|
|
TCO
5
DELISTED
Taubman Centers Inc.
TCO
| $64.4M | 6.19% |
1,007,514
+708,214
| +237% | +$47.2M |
|
6
Hyatt Hotels
H
$16.4B
| $64.2M | 6.17% |
1,298,151
-86,607
| -6% | -$4.08M |
|
|
ESC
7
DELISTED
EMERITUS CORP
ESC
| $57.9M | 5.57% |
2,676,740
+40,000
| +2% | +$819K |
|
|
VRE
8
DELISTED
Veris Residential
VRE
| $51.3M | 4.93% |
+2,388,606
| New | +$50.1M |
|
|
NRF
9
DELISTED
NorthStar Realty Finance Corp.
NRF
| $45.6M | 4.38% |
+1,724,859
| New | +$34.8M |
|
|
MFA
10
MFA Financial
MFA
$924M
| $34.4M | 3.3% |
+1,216,449
| New | +$35.6M |
|
11
Hilton Worldwide
HLT
$72.3B
| $33.4M | 3.21% |
+500,000
| New | +$32.7M |
|
|
EDR
12
DELISTED
Education Realty Trust Inc
EDR
| $26.7M | 2.57% |
1,010,117
+233,333
| +30% | +$6.25M |
|
|
AIV
13
Aimco
AIV
$390M
| $26.2M | 2.52% |
+7,600,639
| New | +$27.3M |
|
14
AvalonBay Communities
AVB
$26.6B
| $24.9M | 2.4% |
+211,000
| New | +$26M |
|
15
Lennar Class A
LEN
$19.8B
| $24.6M | 2.37% |
+654,302
| New | +$22.1M |
|
16
Equity Residential
EQR
$25B
| $24.4M | 2.34% |
+470,000
| New | +$24.8M |
|
|
17
Crown Castle
CCI
$33.3B
| $24M | 2.31% |
327,500
-370,000
| -53% | -$27.4M |
|
18
D.R. Horton
DHI
$40B
| $20.5M | 1.97% |
+916,708
| New | +$17.7M |
|
19
Cemex
CX
$17B
| $20.2M | 1.94% |
+1,997,907
| New | +$18.8M |
|
|
FCE.A
20
DELISTED
Forest City Realty Trust, Inc.
FCE.A
| $20.1M | 1.93% |
1,050,764
+150,764
| +17% | +$2.93M |
|
|
SBY
21
DELISTED
Silver Bay Realty Trust Corp.
SBY
| $19.6M | 1.88% |
1,222,996
+463,052
| +61% | +$7.3M |
|
|
PHH
22
DELISTED
PHH Corporation
PHH
| $16.3M | 1.57% |
+669,417
| New | +$16.1M |
|
|
PPS
23
DELISTED
Post Properties
PPS
| $15.5M | 1.5% |
343,700
+160,800
| +88% | +$7.21M |
|
|
HOUS
24
DELISTED
Anywhere Real Estate
HOUS
| $15.2M | 1.46% |
306,957
-1,202,320
| -80% | -$54.4M |
|
|
PGEM
25
DELISTED
Ply Gem Holdings, Inc.
PGEM
| $14.3M | 1.38% |
793,570
-214,311
| -21% | -$3.45M |
|
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Long Pond Capital's Q4 2013 Portfolio in Review
As of Q4 2013, Long Pond Capital held 38 positions worth $1.04B, up 62% from $643M the previous quarter. Its ten largest holdings account for 64% of the portfolio.
Long Pond Capital deployed $278M of net new capital in Q4 2013, opening 16 new positions and adding to 8 existing holdings. Its largest new stake was American Homes 4 Rent: 4,832,586 shares worth $78.3M.
By sector, the portfolio is most concentrated in Real Estate at 65% of assets, down from 65% a quarter earlier, followed by Consumer Discretionary and Financials.
On the sell side, the largest reduction was Altisource Asset Management Corp, an estimated $61.6M trimmed.
- Long Pond Capital's largest Q4 2013 buy was American Homes 4 Rent: 4,832,586 shares worth $78.3M.
- Long Pond Capital added most to Taubman Centers Inc. in Q4 2013, an estimated $47.2M increase.
- Long Pond Capital's biggest Q4 2013 reduction was Altisource Asset Management Corp, cutting an estimated $61.6M.
- Long Pond Capital fully exited Starwood Property Trust in Q4 2013, selling an estimated $41.7M.
- Long Pond Capital's ten largest holdings make up 64% of its $1.04B portfolio in Q4 2013.
- Long Pond Capital opened 16 new positions and closed 7 in Q4 2013.
- Long Pond Capital's portfolio value rose 62% quarter-over-quarter to $1.04B.
Based on Long Pond Capital's 13F filing for Q4 2013, filed 14 Feb 2014.