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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
+6.27%
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
$1.63B
AUM Growth
-$73.8M
(-4.3%)
Cap. Flow
-$199M
Cap. Flow
% of AUM
-12.2%
Top 10 Holdings %
Top 10 Hldgs %
57.14%
Holding
47
New
14
Increased
5
Reduced
18
Closed
9
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
AvalonBay Communities
AVB
|
+$94M |
| 2 |
UDR
UDR
|
+$74.9M |
| 3 |
LSI
Life Storage, Inc.
LSI
|
+$73.5M |
| 4 |
Equity Residential
EQR
|
+$67.2M |
| 5 |
Camden Property Trust
CPT
|
+$65M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SIX
Six Flags Entertainment Corp.
SIX
|
+$84.7M |
| 2 |
Independence Realty Trust
IRT
|
+$84.6M |
| 3 |
D.R. Horton
DHI
|
+$82.2M |
| 4 |
Melco Resorts & Entertainment
MLCO
|
+$69.9M |
| 5 |
Kilroy Realty
KRC
|
+$51.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 77.23% |
| 2 | Consumer Discretionary | 12.49% |
| 3 | Communication Services | 3.61% |
| 4 | Consumer Staples | 3.14% |
| 5 | Materials | 1.35% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
JBGS
1
JBG SMITH
JBGS
$818M
| $162M | 9.9% |
8,522,716
-98,484
| -1% | -$1.9M |
|
|
2
AvalonBay Communities
AVB
$26.5B
| $124M | 7.59% |
767,824
+552,042
| +256% | +$94M |
|
|
3
Camden Property Trust
CPT
$11B
| $106M | 6.49% |
948,280
+567,487
| +149% | +$65M |
|
|
SRC
4
DELISTED
SPIRIT REALTY CAPITAL, INC.
SRC
| $92.3M | 5.65% |
2,311,427
+825,477
| +56% | +$32.2M |
|
|
5
Independence Realty Trust
IRT
$3.92B
| $88.3M | 5.4% |
5,237,534
-5,002,984
| -49% | -$84.6M |
|
6
LXP Industrial Trust
LXP
$3.57B
| $83.3M | 5.1% |
1,663,279
-424,294
| -20% | -$21.2M |
|
|
7
UDR
UDR
$12.3B
| $73.4M | 4.49% |
+1,896,011
| New | +$74.9M |
|
8
Forestar Group
FOR
$1.44B
| $72.1M | 4.41% |
4,681,873
| – | – |
|
|
LSI
9
DELISTED
Life Storage, Inc.
LSI
| $69.1M | 4.23% |
+701,096
| New | +$73.5M |
|
|
10
Equity Residential
EQR
$24.9B
| $63.4M | 3.88% |
+1,073,923
| New | +$67.2M |
|
|
11
D.R. Horton
DHI
$40B
| $54.1M | 3.31% |
606,388
-1,025,449
| -63% | -$82.2M |
|
12
Fomento Económico Mexicano
FMX
$43.6B
| $51.2M | 3.14% |
655,882
+341,382
| +109% | +$25.1M |
|
13
STAG Industrial
STAG
$7.38B
| $48.8M | 2.98% |
1,509,039
-1,062,349
| -41% | -$33.3M |
|
|
14
Kilroy Realty
KRC
$4.52B
| $47.9M | 2.93% |
1,238,143
-1,255,508
| -50% | -$51.7M |
|
15
Marriott Vacations Worldwide
VAC
$3.35B
| $44.7M | 2.73% |
331,761
-151,606
| -31% | -$21.1M |
|
|
AIV
16
Aimco
AIV
$387M
| $41.4M | 2.53% |
5,810,366
-4,949,193
| -46% | -$37.7M |
|
17
Madison Square Garden
MSGS
$9.48B
| $41M | 2.51% |
223,673
-71,854
| -24% | -$11.3M |
|
18
American Homes 4 Rent
AMH
$12B
| $35M | 2.14% |
+1,160,561
| New | +$36.8M |
|
19
First Industrial Realty Trust
FR
$8.73B
| $32.7M | 2% |
676,889
+366,478
| +118% | +$17.5M |
|
|
AIRC
20
DELISTED
Apartment Income REIT Corp.
AIRC
| $29.8M | 1.83% |
869,909
-753,047
| -46% | -$27.6M |
|
|
SAFE
21
DELISTED
Safehold Inc.
SAFE
| $26.1M | 1.6% |
913,523
-812,668
| -47% | -$23.1M |
|
|
22
Melco Resorts & Entertainment
MLCO
$2.22B
| $25.5M | 1.56% |
2,213,063
-8,617,133
| -80% | -$69.9M |
|
23
Meritage Homes
MTH
$4.58B
| $23.8M | 1.45% |
+515,226
| New | +$20.8M |
|
24
Hilton Worldwide
HLT
$72.1B
| $22.1M | 1.35% |
175,000
-180,000
| -51% | -$23.7M |
|
25
Sherwin-Williams
SHW
$82.7B
| $22M | 1.35% |
92,900
-62,100
| -40% | -$14.4M |
|
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Long Pond Capital's Q4 2022 Portfolio in Review
As of Q4 2022, Long Pond Capital held 47 positions worth $1.63B, down 4.3% from $1.71B the previous quarter. Its ten largest holdings account for 57% of the portfolio.
Long Pond Capital withdrew a net $199M in Q4 2022, closing 9 positions and reducing 18 holdings. Its most notable exit was Expedia Group, an estimated $46.8M position sold in full.
By sector, the portfolio is most concentrated in Real Estate at 77% of assets, up from 62% a quarter earlier, followed by Consumer Discretionary and Communication Services.
Against the trend, Long Pond Capital opened a new position in UDR worth $73.4M.
- Long Pond Capital's largest Q4 2022 buy was UDR: 1,896,011 shares worth $73.4M.
- Long Pond Capital added most to AvalonBay Communities in Q4 2022, an estimated $94M increase.
- Long Pond Capital's biggest Q4 2022 reduction was Six Flags Entertainment Corp., cutting an estimated $84.7M.
- Long Pond Capital fully exited Expedia Group in Q4 2022, selling an estimated $46.8M.
- Long Pond Capital's ten largest holdings make up 57% of its $1.63B portfolio in Q4 2022.
- Long Pond Capital opened 14 new positions and closed 9 in Q4 2022.
- Long Pond Capital's portfolio value fell 4.3% quarter-over-quarter to $1.63B.
Based on Long Pond Capital's 13F filing for Q4 2022, filed 14 Feb 2023.