WhaleCreep

Land & Buildings Investment Management, LLC 13F holdings, Q2 2015

Hedge fundSEC filingsCompare with another fundHoldings as of 2015-06-30, filed 2015-08-14

Land & Buildings Investment Management, LLC disclosed 18 US equity positions worth $154.4m in its Q2 2015 13F filing. Its largest position is MGM at 22.2% of the reported book, followed by NEW YORK REIT INC and VERIS RESIDENTIAL INC. Versus Q1 2015 it opened 6 new positions, added to 7, reduced 1 and exited 25.

$154m
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
18
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
22.2%
Largest position
The largest single position as a share of the reported equity book.
73.8%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
11
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 Q1 2015: 6 new, 7 added, 1 reduced, 25 exited

18 rows
MGM MGM RESORTS INTERNATIONALConsumer Cyclical22.2%$34.3m1.88m0.0%held
NEW YORK REIT INC no ticker–12.3%$18.9m1.92m–new
VERIS RESIDENTIAL INC no ticker–5.7%$8.7m477,4000.0%held
AMERICAN RESIDENTIAL PPTYS I no ticker–5.6%$8.7m471,225+3.0%added
SBAC SBA COMMUNICATIONS CORPReal Estate5.5%$8.5m73,905+12%added
HLT HILTON WORLDWIDE HLDGS INCConsumer Cyclical4.8%$7.5m271,700+108%added
EQR EQUITY RESIDENTIALReal Estate4.7%$7.2m103,300–new
PINNACLE ENTMT INC no ticker–4.6%$7.2m192,100+35%added
AVBC AVALONBAY CMNTYS INCFinancial Services4.2%$6.5m40,900–new
PENNSYLVANIA RL ESTATE INVT no ticker–4.2%$6.4m301,793−20%reduced
KRC KILROY RLTY CORPReal Estate4.1%$6.3m93,296+99%added
FIRST POTOMAC RLTY TR no ticker–3.6%$5.6m553,444–new
SILVER BAY RLTY TR CORP no ticker–3.2%$5.0m307,341–new
PARKWAY PPTYS INC no ticker–3.2%$4.9m282,911–new
CBRE CBRE GROUP INCReal Estate3.1%$4.8m129,2000.0%held
SLG2EUR SL GREEN RLTY CORP–3.1%$4.7m43,040+57%added
JLL JONES LANG LASALLE INCReal Estate3.0%$4.6m26,8710.0%held
ESS ESSEX PPTY TR INCReal Estate2.9%$4.5m21,269+65%added

Exited since Q1 2015

25 rows
MGM RESORTS INTERNATIONAL no ticker14.1%$40.0m
ASSOCIATED ESTATES RLTY CORP no ticker11.1%$31.5m
COMPUTER SCIENCES CORP no ticker3.8%$10.8m
AAPL APPLE INC3.7%$10.6m
DAL DELTA AIR LINES INC3.7%$10.5m
CF CF Industries Holdings Inc3.6%$10.1m
MSFT MICROSOFT CORP3.0%$8.5m
IACIEUR IAC INTERACTIVECORP2.5%$7.0m
SAIC SCIENCE APPLICATIONS INTL CO2.4%$6.8m
GM General Motors Corp2.0%$5.8m
AIG American International Group1.9%$5.5m
BKD BROOKDALE SR LIVING INC1.8%$5.1m
TYPEUSD MONOTYPE IMAGING HOLDINGS IN1.8%$5.1m
FOREST CITY ENTERPRISES INC no ticker1.7%$4.9m
HCP INC no ticker1.6%$4.6m
TTWO TAKE-TWO INTERACTIVE SOFTWAR1.6%$4.5m
VRSN VERISIGN INC1.4%$4.1m
ELECTRO RENT CORP no ticker0.4%$1.2m
HERTZ GLOBAL HOLDINGS INC no ticker0.4%$1.2m
IMS HEALTH HLDGS INC no ticker0.4%$1.0m
COMMAND SEC CORP no ticker0.3%$894k
ORBC ORBCOMM INC0.2%$575k
MGC DIAGNOSTICS CORP no ticker0.1%$392k
NLSUSD BOWFLEX INC0.1%$318k
BLACK DIAMOND INC no ticker0.03%$99.0k

Sector mix

  • Unclassified45.5%
  • Consumer Cyclical27.1%
  • Real Estate23.2%
  • Financial Services4.2%

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