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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
+2.51%
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
$1.7B
AUM Growth
-$167M
(-9%)
Cap. Flow
-$202M
Cap. Flow
% of AUM
-11.93%
Top 10 Holdings %
Top 10 Hldgs %
64.6%
Holding
46
New
7
Increased
11
Reduced
9
Closed
17
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
PENN Entertainment
PENN
|
+$82.6M |
| 2 |
Wyndham Hotels & Resorts
WH
|
+$76.8M |
| 3 |
Rexford Industrial Realty
REXR
|
+$75.9M |
| 4 |
Jones Lang LaSalle
JLL
|
+$69.3M |
| 5 |
CBRE Group
CBRE
|
+$47.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AvalonBay Communities
AVB
|
+$118M |
| 2 |
Mid-America Apartment Communities
MAA
|
+$99.4M |
| 3 |
American Homes 4 Rent
AMH
|
+$90M |
| 4 |
Equity Residential
EQR
|
+$73.3M |
| 5 |
Fomento Económico Mexicano
FMX
|
+$54.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 74.73% |
| 2 | Consumer Discretionary | 23.45% |
| 3 | Communication Services | 0.82% |
| 4 | Industrials | 0.8% |
| 5 | Consumer Staples | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Camden Property Trust
CPT
$11B
| $173M | 10.22% |
1,591,824
+187,750
| +13% | +$20.2M |
|
|
SRC
2
DELISTED
SPIRIT REALTY CAPITAL, INC.
SRC
| $137M | 8.08% |
3,480,789
+18,305
| +0.5% | +$710K |
|
|
3
CBRE Group
CBRE
$42.4B
| $129M | 7.6% |
1,596,461
+634,430
| +66% | +$47.5M |
|
|
JBGS
4
JBG SMITH
JBGS
$820M
| $121M | 7.13% |
8,036,193
-527,261
| -6% | -$7.68M |
|
5
Healthpeak Properties
DOC
$15.1B
| $116M | 6.86% |
5,786,026
+465,452
| +9% | +$9.66M |
|
|
SAFE
6
Safehold
SAFE
$1.17B
| $98.1M | 5.79% |
4,135,495
+876,136
| +27% | +$23.2M |
|
7
Marriott Vacations Worldwide
VAC
$3.35B
| $84.3M | 4.97% |
687,247
+291,588
| +74% | +$37.7M |
|
8
Forestar Group
FOR
$1.44B
| $81.2M | 4.79% |
3,600,326
-1,081,547
| -23% | -$20.8M |
|
|
9
Jones Lang LaSalle
JLL
$16.6B
| $78.5M | 4.63% |
503,882
+488,406
| +3,156% | +$69.3M |
|
|
10
Wyndham Hotels & Resorts
WH
$5.57B
| $77.1M | 4.55% |
+1,124,500
| New | +$76.8M |
|
11
Independence Realty Trust
IRT
$3.93B
| $75.4M | 4.44% |
4,135,786
-700,710
| -14% | -$12M |
|
|
12
PENN Entertainment
PENN
$2.74B
| $74.5M | 4.39% |
+3,101,659
| New | +$82.6M |
|
|
13
Rexford Industrial Realty
REXR
$8.46B
| $72.7M | 4.28% |
+1,391,329
| New | +$75.9M |
|
14
D.R. Horton
DHI
$40B
| $53.8M | 3.17% |
441,989
-156,164
| -26% | -$17.1M |
|
|
VRE
15
DELISTED
Veris Residential
VRE
| $50.5M | 2.98% |
3,145,739
+243,186
| +8% | +$3.93M |
|
16
LXP Industrial Trust
LXP
$3.57B
| $43M | 2.54% |
882,418
-870,253
| -50% | -$43M |
|
17
Melco Resorts & Entertainment
MLCO
$2.24B
| $36M | 2.12% |
2,944,663
+1,141,600
| +63% | +$14.1M |
|
|
AIV
18
Aimco
AIV
$390M
| $35.4M | 2.09% |
4,152,140
-1,087,835
| -21% | -$8.85M |
|
19
First Industrial Realty Trust
FR
$8.74B
| $27.6M | 1.63% |
523,798
-153,091
| -23% | -$7.99M |
|
20
Hilton Grand Vacations
HGV
$3.65B
| $26.4M | 1.56% |
580,788
+243,469
| +72% | +$10.9M |
|
21
Travel + Leisure Co
TNL
$4.63B
| $25.4M | 1.5% |
+630,767
| New | +$24.3M |
|
22
Meritage Homes
MTH
$4.58B
| $20.2M | 1.19% |
284,000
+98,572
| +53% | +$6.19M |
|
23
Madison Square Garden
MSGS
$9.53B
| $14M | 0.82% |
74,201
-24,472
| -25% | -$4.62M |
|
24
Louisiana-Pacific
LPX
$5.04B
| $13.5M | 0.8% |
+180,500
| New | +$11.2M |
|
25
Vesta Real Estate
VTMX
$3.22B
| $10.1M | 0.6% |
+315,000
| New | +$10.1M |
|
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Long Pond Capital's Q2 2023 Portfolio in Review
As of Q2 2023, Long Pond Capital held 46 positions worth $1.7B, down 9% from $1.86B the previous quarter. Its ten largest holdings account for 65% of the portfolio.
Long Pond Capital withdrew a net $202M in Q2 2023, closing 17 positions and reducing 9 holdings. Its most notable exit was AvalonBay Communities, an estimated $118M position sold in full.
By sector, the portfolio is most concentrated in Real Estate at 75% of assets, down from 87% a quarter earlier, followed by Consumer Discretionary and Communication Services.
Against the trend, Long Pond Capital opened a new position in PENN Entertainment worth $74.5M.
- Long Pond Capital's largest Q2 2023 buy was PENN Entertainment: 3,101,659 shares worth $74.5M.
- Long Pond Capital added most to Jones Lang LaSalle in Q2 2023, an estimated $69.3M increase.
- Long Pond Capital's biggest Q2 2023 reduction was LXP Industrial Trust, cutting an estimated $43M.
- Long Pond Capital fully exited AvalonBay Communities in Q2 2023, selling an estimated $118M.
- Long Pond Capital's ten largest holdings make up 65% of its $1.7B portfolio in Q2 2023.
- Long Pond Capital opened 7 new positions and closed 17 in Q2 2023.
- Long Pond Capital's portfolio value fell 9% quarter-over-quarter to $1.7B.
Based on Long Pond Capital's 13F filing for Q2 2023, filed 14 Aug 2023.