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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
AMH icon
1
American Homes 4 Rent
AMH
$12B
$133M 13.19%
7,935,386
+3,102,800
+64% +$51.8M
BXMT icon
2
Blackstone Mortgage Trust
BXMT
$2.46B
$106M 10.56%
3,694,151
+800,000
+28% +$22.7M
SFR
3
DELISTED
Starwood Waypoint Homes
SFR
$87.7M 8.72%
+3,045,296
New +$85.9M
H icon
4
Hyatt Hotels
H
$16.5B
$61.2M 6.09%
1,138,151
-160,000
-12% -$8.15M
CBRE icon
5
CBRE Group
CBRE
$42.3B
$55.7M 5.53%
2,028,968
-698,165
-26% -$18.8M
AMT icon
6
American Tower
AMT
$80.7B
$51.5M 5.12%
+629,000
New +$51.2M
ESC
7
DELISTED
EMERITUS CORP
ESC
$50.3M 5%
1,599,040
-1,077,700
-40% -$27.9M
BYD icon
8
Boyd Gaming
BYD
$6.33B
$41M 4.07%
+3,102,522
New +$35.9M
MHK icon
9
Mohawk Industries
MHK
$7.5B
$39.4M 3.92%
+290,000
New +$41.5M
GRT
10
DELISTED
GLIMCHER REALTY TRUST
GRT
$38.7M 3.85%
+3,858,932
New +$36.5M
PNK
11
DELISTED
Pinnacle Entertainment Inc.
PNK
$38.6M 3.84%
1,630,442
+1,222,354
+300% +$28.7M
ARPI
12
DELISTED
AMERICAN RESIDENTIAL PPTYS INC COM
ARPI
$35.2M 3.5%
+1,959,775
New +$35.6M
HLT icon
13
Hilton Worldwide
HLT
$72.3B
$33.4M 3.32%
500,000
– –
MSGS icon
14
Madison Square Garden
MSGS
$9.53B
$33.3M 3.31%
+822,619
New +$33.8M
AIV
15
Aimco
AIV
$390M
$32.1M 3.19%
7,962,467
+361,828
+5% +$1.39M
AWI icon
16
Armstrong World Industries
AWI
$7.36B
$30.3M 3.01%
+568,600
New +$32.4M
SGM
17
DELISTED
Stonegate Mortgage Corporation
SGM
$27.4M 2.72%
1,843,262
+1,143,262
+163% +$17.3M
TNL icon
18
Travel + Leisure Co
TNL
$4.63B
$24.3M 2.42%
+735,380
New +$24M
FCE.A
19
DELISTED
Forest City Realty Trust, Inc.
FCE.A
$22.9M 2.27%
1,196,482
+145,718
+14% +$2.75M
CCI icon
20
Crown Castle
CCI
$33.3B
$17.9M 1.78%
242,000
-85,500
-26% -$6.27M
PHH
21
DELISTED
PHH Corporation
PHH
$15.4M 1.53%
594,193
-75,224
-11% -$1.89M
LNW
22
DELISTED
Light & Wonder
LNW
$15.2M 1.52%
+1,110,000
New +$16.2M
NCLH icon
23
Norwegian Cruise Line
NCLH
$8.5B
$4.54M 0.45%
+140,522
New +$4.8M
MLCO icon
24
Melco Resorts & Entertainment
MLCO
$2.25B
$3.87M 0.38%
+100,000
New +$4.16M
PGEM
25
DELISTED
Ply Gem Holdings, Inc.
PGEM
$3.3M 0.33%
261,370
-532,200
-67% -$7.12M
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.