WhaleCreep

Land & Buildings Investment Management, LLC 13F holdings, Q1 2015

Hedge fundSEC filingsCompare with another fundHoldings as of 2015-03-31, filed 2015-05-18

Land & Buildings Investment Management, LLC disclosed 37 US equity positions worth $283.1m in its Q1 2015 13F filing. Its largest position is MGM RESORTS INTERNATIONAL at 14.1% of the reported book, followed by MGM and ASSOCIATED ESTATES RLTY CORP. Versus Q4 2014 it opened 26 new positions, added to 2, reduced 6 and exited 6.

$283m
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
37
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
14.1%
Largest position
The largest single position as a share of the reported equity book.
63.4%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
15
Effective positions
1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
59
Quarters on file since Q4 2011
Quarters for which this manager's 13F holdings are on record.

Holdings

Against Q4 2014: 26 new, 2 added, 6 reduced, 6 exited

37 rows
MGM RESORTS INTERNATIONAL no ticker–14.1%$40.0m1.90m–new
MGM MGM RESORTS INTERNATIONALConsumer Cyclical14.0%$39.5m1.88m–new
ASSOCIATED ESTATES RLTY CORP no ticker–11.1%$31.5m1.29m0.0%held
COMPUTER SCIENCES CORP no ticker–3.8%$10.8m163,097–new
AAPL APPLE INCTechnology3.7%$10.6m83,929–new
DAL DELTA AIR LINES INCIndustrials3.7%$10.5m231,438–new
CF CF Industries Holdings IncBasic Materials3.6%$10.1m34,660–new
VERIS RESIDENTIAL INC no ticker–3.2%$9.1m477,4000.0%held
PENNSYLVANIA RL ESTATE INVT no ticker–3.1%$8.8m377,862−34%reduced
MSFT MICROSOFT CORPTechnology3.0%$8.5m207,635–new
AMERICAN RESIDENTIAL PPTYS I no ticker–2.9%$8.2m457,459+52%added
SBAC SBA COMMUNICATIONS CORPReal Estate2.7%$7.7m65,805+31%added
IACIEUR IAC INTERACTIVECORP–2.5%$7.0m105,082–new
SAIC SCIENCE APPLICATIONS INTL COTechnology2.4%$6.8m122,926–new
GM General Motors CorpConsumer Cyclical2.0%$5.8m153,556–new
AIG American International GroupFinancial Services1.9%$5.5m99,905–new
BKD BROOKDALE SR LIVING INCHealthcare1.8%$5.1m136,300–new
TYPEUSD MONOTYPE IMAGING HOLDINGS IN–1.8%$5.1m156,533–new
PINNACLE ENTMT INC no ticker–1.8%$5.1m142,000–new
CBRE CBRE GROUP INCReal Estate1.8%$5.0m129,200−37%reduced
FOREST CITY ENTERPRISES INC no ticker–1.7%$4.9m191,597–new
HCP INC no ticker–1.6%$4.6m109,000–new
JLL JONES LANG LASALLE INCReal Estate1.6%$4.6m26,8710.0%held
TTWO TAKE-TWO INTERACTIVE SOFTWARCommunication Services1.6%$4.5m176,570–new
VRSN VERISIGN INCTechnology1.4%$4.1m60,765–new
HLT HILTON WORLDWIDE HLDGS INCConsumer Cyclical1.4%$3.9m130,900−40%reduced
KRC KILROY RLTY CORPReal Estate1.3%$3.6m46,796−11%reduced
SLG2EUR SL GREEN RLTY CORP–1.2%$3.5m27,340−37%reduced
ESS ESSEX PPTY TR INCReal Estate1.0%$3.0m12,869−31%reduced
ELECTRO RENT CORP no ticker–0.4%$1.2m105,701–new
HERTZ GLOBAL HOLDINGS INC no ticker–0.4%$1.2m54,800–new
IMS HEALTH HLDGS INC no ticker–0.4%$1.0m37,455–new
COMMAND SEC CORP no ticker–0.3%$894k460,823–new
ORBC ORBCOMM INC–0.2%$575k96,937–new
MGC DIAGNOSTICS CORP no ticker–0.1%$392k54,300–new
NLSUSD BOWFLEX INC–0.1%$318k20,577–new
BLACK DIAMOND INC no ticker–0.03%$99.0k10,486–new

Exited since Q4 2014

6 rows
STARWOOD HOTELS&RESORTS WRLD no ticker6.1%$7.7m
RYLAND GROUP INC no ticker5.7%$7.1m
LEN LENNAR CORP5.2%$6.5m
DRH DIAMONDROCK HOSPITALITY CO3.3%$4.1m
COR1EUR CORESITE RLTY CORP3.0%$3.8m
DHI D R HORTON INC2.6%$3.3m

Sector mix

  • Unclassified51.0%
  • Consumer Cyclical17.4%
  • Technology10.6%
  • Real Estate8.4%
  • Industrials3.7%
  • Basic Materials3.6%
  • Financial Services1.9%
  • Healthcare1.8%
  • Communication Services1.6%

Book over time

Every quarter on file (59)
QuarterPositionsEquity book
Q2 202619$583m
Q1 202620$591m
Q4 202519$602m
Q3 202522$545m
Q2 202521$501m
Q1 202520$473m
Q4 202420$494m
Q3 202419$489m
Q2 202419$425m
Q1 202418$457m
Q4 202316$435m
Q3 202318$455m
Q2 202318$475m
Q1 202323$432m
Q4 202219$464m
Q3 202221$454m
Q2 202218$438m
Q1 202219$620m
Q4 202117$619m
Q3 202118$596m
Q2 202120$534m
Q1 202120$471m
Q4 202021$456m
Q3 202022$577m
Q2 202022$408m
Q1 202015$248m
Q4 201919$543m
Q3 201917$453m
Q2 201916$404m
Q1 201915$408m
Q4 201815$361m
Q3 201814$464m
Q2 201814$500m
Q1 201818$513m
Q4 201714$500m
Q3 201712$407m
Q2 201712$388m
Q1 201711$382m
Q4 201613$407m
Q3 201617$391m
Q2 201618$185m
Q1 201616$220m
Q4 201517$255m
Q3 201516$194m
Q2 201518$154m
Q1 201537$283m
Q4 201417$125m
Q3 201416$102m
Q2 201417$125m
Q1 201424$103m
Q4 201327$114m
Q3 201325$103m
Q2 201327$106m
Q1 201325$99.3m
Q4 201229$101m
Q3 201228$83.7m
Q2 201231$82.8m
Q1 201227$58.3m
Q4 201128$55.8m

Where Land & Buildings Investment Management, LLC was early

35 rows
BXP BOSTON PROPERTIES INCQ1 20121 of 1132.6%4.4%4Exited by Q2 2013−3.7%
DRH DIAMONDROCK HOSPITALITY COQ1 20121 of 824.9%7.4%11Exited by Q3 2020−46%
PEB PEBBLEBROOK HOTEL TRQ1 20121 of 1004.4%5.4%3Exited by Q1 2014+36%
WCN WASTE CONNECTIONS INCQ1 20122 of 1304.5%4.5%3Exited by Q1 2013+3.9%
HST HOST HOTELS & RESORTS INCQ1 20123 of 1270.5%10.0%10Exited by Q3 2023+2.5%
CBRE CBRE GROUP, INC. CLASS AQ1 20126 of 1582.6%6.5%22Held at last filing, Q2 2026+575%
H HYATT HOTELS CORPQ2 20121 of 1482.2%3.6%2Exited by Q4 2012+8.1%
KIM KIMCO RLTY CORPQ2 20121 of 1050.8%4.2%3Exited by Q4 2013+6.0%
PLD PROLOGIS INC.Q2 20121 of 1364.6%10.4%20Exited by Q2 2026+298%
WYNN WYNN RESORTS LTDQ2 20125 of 1823.6%4.0%7Exited by Q3 2024−14%
LVS LAS VEGAS SANDS CORP.Q2 20126 of 1884.2%11.1%9Exited by Q2 2024+19%
JLL JONES LANG LASALLE INCQ4 20123 of 1333.9%5.7%18Exited by Q2 2022+185%
PHM PULTE GROUP INCQ4 20127 of 1505.0%5.9%3Exited by Q4 2016+10%
MTH MERITAGE HOMES CORPQ1 20132 of 1203.7%4.8%4Exited by Q1 2014+2.4%
MLCO MELCO RESORTS AND ENTMNT LTDQ1 20136 of 1082.1%5.3%5Exited by Q3 2021−29%
BKD BROOKDALE SR LIVING INCQ2 20132 of 1504.3%14.6%22Exited by Q1 2021−83%
FR FIRST INDUSTRIAL REALTY TRUST, INC.Q4 20132 of 1014.5%11.7%20Held at last filing, Q2 2026+251%
DHI D.R. HORTON, INC.Q1 20144 of 2015.1%7.7%24Held at last filing, Q2 2026+652%
AMH AMERICAN HOMES 4 RENTQ1 20148 of 1274.3%10.2%25Exited by Q1 2026+92%
MGM MGM RESORTS INTERNATIONALQ1 20148 of 2127.0%22.2%29Exited by Q3 2021+65%
LEN LENNAR CORPQ2 20147 of 1993.9%7.6%10Exited by Q3 2020+49%
HLT HILTON WORLDWIDE HLDGS INCQ3 201412 of 2253.7%6.2%13Exited by Q3 2024+332%
BYD BOYD GAMING CORPQ3 20157 of 1412.6%5.6%7Exited by Q4 2021+288%
QTS QTS RLTY TR INCQ4 20151 of 774.3%13.1%22Exited by Q2 2021+38%
MTN VAIL RESORTS INCQ3 201611 of 1703.3%5.7%6Exited by Q4 2021+113%
RLJ RLJ LODGING TRQ3 20171 of 8518.9%18.9%3Exited by Q2 2018−12%
INVH INVITATION HOMES INC.Q4 20175 of 1363.9%8.6%16Held at last filing, Q2 2026+28%
CWK CUSHMAN WAKEFIELD PLCQ4 20182 of 866.3%7.2%5Exited by Q1 2020+41%
OUT OUTFRONT MEDIA INC.Q3 20199 of 1426.1%6.3%20Held at last filing, Q2 2026+15%
DOC HEALTHPEAK PROPERTIES INCQ4 20193 of 1095.1%5.1%2Exited by Q3 2020−20%
ARE ALEXANDRIA REAL ESTATE EQ INQ1 20207 of 11010.2%10.2%6Exited by Q2 2023−8.4%
PCH POTLATCHDELTIC CORPORATIONQ3 20202 of 832.3%3.0%2Exited by Q1 2021+19%
CZR CAESARS ENTERTAINMENT INCQ3 202013 of 2453.2%3.8%9Exited by Q4 2023−17%
AIV APARTMENT INVESTMENT AND MANAGEMENT COMPANYQ2 20224 of 9410.3%16.8%10Exited by Q2 2025+38%
AHR AMERICAN HEALTHCARE REIT INCQ1 20241 of 924.9%9.8%10Held at last filing, Q2 2026+254%

Concentration and tenure

12.3%
Median largest position, all quarters
The largest single position as a share of the reported equity book.
74.9%
Median top 10 weight, all quarters
The ten largest positions together, as a share of the reported equity book.
Concentrated
Style, by median largest position
2
Median completed holding, quarters