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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
-0.1%
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
$2.14B
AUM Growth
+$173M
(+8.8%)
Cap. Flow
+$139M
Cap. Flow
% of AUM
6.5%
Top 10 Holdings %
Top 10 Hldgs %
68.17%
Holding
39
New
14
Increased
3
Reduced
8
Closed
9
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Marriott International
MAR
|
+$123M |
| 2 |
Equity Residential
EQR
|
+$109M |
| 3 |
Essex Property Trust
ESS
|
+$98.3M |
| 4 |
Lennar Class A
LEN
|
+$96.4M |
| 5 |
Madison Square Garden
MSGS
|
+$80.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CLNY
Colony Capital, Inc.
CLNY
|
+$156M |
| 2 |
American Homes 4 Rent
AMH
|
+$80.5M |
| 3 |
CAA
CalAtlantic Group, Inc.
CAA
|
+$59.1M |
| 4 |
SRG
Seritage Growth Properties
SRG
|
+$57.6M |
| 5 |
TCO
Taubman Centers Inc.
TCO
|
+$56.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 37.67% |
| 2 | Consumer Discretionary | 25.19% |
| 3 | Financials | 6.54% |
| 4 | Communication Services | 4.45% |
| 5 | Industrials | 0.62% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
TCO
1
DELISTED
Taubman Centers Inc.
TCO
| $266M | 12.44% |
3,580,840
-804,563
| -18% | -$56.6M |
|
|
PGRE
2
DELISTED
Paramount Group
PGRE
| $178M | 8.31% |
11,142,837
+852,160
| +8% | +$13.9M |
|
3
Blackstone Mortgage Trust
BXMT
$2.45B
| $166M | 7.77% |
5,999,665
| – | – |
|
4
PUT
iShares US Real Estate ETF
IYR
$4.66B
| $165M | 7.71% |
+2,000,000
| New | +$157M |
|
5
Hilton Worldwide
HLT
$72.1B
| $126M | 5.9% |
1,865,923
-333,810
| -15% | -$21.9M |
|
|
6
Marriott International
MAR
$98.3B
| $122M | 5.72% |
+1,839,745
| New | +$123M |
|
7
Hyatt Hotels
H
$16.4B
| $120M | 5.59% |
2,432,768
| – | – |
|
|
8
Equity Residential
EQR
$24.9B
| $109M | 5.1% |
+1,580,724
| New | +$109M |
|
|
FCE.A
9
DELISTED
Forest City Realty Trust, Inc.
FCE.A
| $105M | 4.93% |
4,720,423
-2,263,046
| -32% | -$49.3M |
|
|
10
Essex Property Trust
ESS
$18.3B
| $100M | 4.7% |
+440,258
| New | +$98.3M |
|
|
11
Lennar Class A
LEN
$19.8B
| $96.6M | 4.52% |
+2,201,869
| New | +$96.4M |
|
|
12
Madison Square Garden
MSGS
$9.48B
| $84.6M | 3.96% |
+687,377
| New | +$80.7M |
|
13
CBRE Group
CBRE
$42.5B
| $82M | 3.84% |
3,098,524
+116,940
| +4% | +$3.42M |
|
14
KeyCorp
KEY
$24.2B
| $57.6M | 2.7% |
5,215,000
| – | – |
|
|
SFR
15
DELISTED
Starwood Waypoint Homes
SFR
| $51.7M | 2.42% |
1,698,253
-1,642,104
| -49% | -$43.7M |
|
16
Boyd Gaming
BYD
$6.32B
| $51.2M | 2.4% |
+2,784,605
| New | +$54M |
|
17
Popular Inc
BPOP
$11.2B
| $39.4M | 1.84% |
1,343,602
-867,949
| -39% | -$25.6M |
|
|
LQ
18
DELISTED
La Quinta Holdings Inc.
LQ
| $35.2M | 1.65% |
3,089,999
-1,319,208
| -30% | -$15.7M |
|
19
iShares US Home Construction ETF
ITB
$2.26B
| $35.1M | 1.64% |
+1,270,000
| New | +$34.5M |
|
20
PUT
Royal Bank of Canada
RY
$291B
| $29.5M | 1.38% |
+500,000
| New | +$30M |
|
21
Meritage Homes
MTH
$4.58B
| $22.4M | 1.05% |
+1,194,600
| New | +$21.7M |
|
22
Citizens Financial Group
CFG
$30.3B
| $19.2M | 0.9% |
960,000
| – | – |
|
23
Builders FirstSource
BLDR
$7.15B
| $13.2M | 0.62% |
+1,175,000
| New | +$13.6M |
|
|
SRC
24
DELISTED
SPIRIT REALTY CAPITAL, INC.
SRC
| $13M | 0.61% |
226,405
-301,924
| -57% | -$15.8M |
|
|
DRII
25
PUT
DELISTED
DIAMOND RESORTS INTL, INC
DRII
| $11.1M | 0.52% |
+369,200
| New | +$8.36M |
|
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Long Pond Capital's Q2 2016 Portfolio in Review
As of Q2 2016, Long Pond Capital held 39 positions worth $2.14B, up 8.8% from $1.96B the previous quarter. Its ten largest holdings account for 68% of the portfolio.
Long Pond Capital deployed $139M of net new capital in Q2 2016, opening 14 new positions and adding to 3 existing holdings. Its largest new stake was Marriott International: 1,839,745 shares worth $122M.
By sector, the portfolio is most concentrated in Real Estate at 38% of assets, down from 42% a quarter earlier, followed by Consumer Discretionary and Financials.
On the sell side, the largest reduction was Taubman Centers Inc., an estimated $56.6M trimmed.
- Long Pond Capital's largest Q2 2016 buy was Marriott International: 1,839,745 shares worth $122M.
- Long Pond Capital added most to Paramount Group in Q2 2016, an estimated $13.9M increase.
- Long Pond Capital's biggest Q2 2016 reduction was Taubman Centers Inc., cutting an estimated $56.6M.
- Long Pond Capital fully exited Colony Capital, Inc. in Q2 2016, selling an estimated $156M.
- Long Pond Capital's ten largest holdings make up 68% of its $2.14B portfolio in Q2 2016.
- Long Pond Capital opened 14 new positions and closed 9 in Q2 2016.
- Long Pond Capital's portfolio value rose 8.8% quarter-over-quarter to $2.14B.
Based on Long Pond Capital's 13F filing for Q2 2016, filed 12 Aug 2016.