WhaleCreep

Long Pond Capital, LP 13F holdings, Q2 2015

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

Long Pond Capital, LP disclosed 31 US equity positions worth $2.0bn in its Q2 2015 13F filing. Its largest position is AMH at 11.8% of the reported book, followed by TCO and FOREST CITY ENTERPRISES INC. Versus Q1 2015 it opened 10 new positions, added to 9, reduced 7 and exited 9.

$2.0bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
31
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
11.8%
Largest position
The largest single position as a share of the reported equity book.
68.7%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
17
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: 10 new, 9 added, 7 reduced, 9 exited

31 rows
AMH AMERICAN HOMES 4 RENTReal Estate11.8%$236m14.71m0.0%held
TCO TAUBMAN CTRS INC–9.3%$185m2.66m+72%added
FOREST CITY ENTERPRISES INC no ticker–8.4%$167m7.57m+541%added
6PM PARAMOUNT GROUP INC–7.8%$156m9.08m+107%added
BXMT BLACKSTONE MTG TR INCReal Estate7.8%$156m5.59m+19%added
STARWOOD HOTELS&RESORTS WRLD no ticker–7.4%$148m1.82m−36%reduced
KSUEUR KANSAS CITY SOUTHERN–4.6%$91.2m1.00m–new
MCD MCDONALDS CORPConsumer Cyclical4.3%$85.2m896,000−27%reduced
STARWOOD WAYPOINT RESIDENTL no ticker–3.6%$72.4m3.05m+2.1%added
APARTMENT INVT & MGMT CO no ticker–3.6%$72.1m1.95m–new
VERIS RESIDENTIAL INC no ticker–3.3%$66.2m3.59m+76%added
CPT CAMDEN PPTY TRReal Estate2.8%$55.7m749,853+59%added
M Macy's, IncConsumer Cyclical2.7%$53.8m797,218+9.7%added
BYD BOYD GAMING CORPConsumer Cyclical2.7%$53.5m3.58m0.0%held
MGM MGM RESORTS INTERNATIONALConsumer Cyclical2.2%$43.8m2.40m+53%added
H HYATT HOTELS CORPConsumer Cyclical1.9%$38.6m681,057–new
PDM PIEDMONT REALTY TRUST INCReal Estate1.8%$36.8m2.09m–new
ELME ELME COMMUNITIESReal Estate1.7%$33.6m1.30m–new
DHI D R HORTON INCConsumer Cyclical1.5%$29.2m1.07m−26%reduced
AMERICAN RESIDENTIAL PPTYS I no ticker–1.5%$29.1m1.57m−50%reduced
STONEGATE MTG CORP no ticker–1.3%$25.2m2.50m0.0%held
NMIH NMI HLDGS INCFinancial Services1.2%$23.4m2.92m0.0%held
BDN BRANDYWINE RLTY TRReal Estate1.2%$23.2m1.75m–new
FNF FIDELITY NATIONAL FINANCIALFinancial Services1.0%$19.9m1.29m−57%reduced
FIRST POTOMAC RLTY TR no ticker–1.0%$19.3m1.88m–new
SILVER BAY RLTY TR CORP no ticker–0.9%$18.6m1.14m−18%reduced
SPIRIT RLTY CAP INC NEW no ticker–0.8%$15.8m1.64m−83%reduced
RPAIUSD RETAIL PPTYS AMER INC–0.7%$13.7m984,967–new
PENNYMAC FINL SVCS INC no ticker–0.5%$10.7m590,8750.0%held
MLCO MELCO RESORTS AND ENTMNT LTDConsumer Cyclical0.4%$8.8m450,000–new
DDR CORP no ticker–0.2%$4.6m300,000–new

Exited since Q1 2015

9 rows
CFG CITIZENS FINL GROUP INC6.0%$117m
GRAMERCY PPTY TR INC no ticker2.6%$50.7m
MHK MOHAWK INDS INC2.4%$46.5m
HP5A EQUITY COMWLTH1.9%$36.9m
PHH CORP no ticker1.8%$34.8m
POST PPTYS INC no ticker1.7%$33.7m
CZREUR CAESARS ENTMT CORP1.1%$22.6m
7SU SUMMIT MATLS INC0.3%$5.5m
PARKWAY PPTYS INC no ticker0.01%$269k

Sector mix

  • Unclassified55.0%
  • Real Estate27.2%
  • Consumer Cyclical15.7%
  • Financial Services2.2%

Book over time

Every quarter on file (59)
QuarterPositionsEquity book
Q2 202630$954m
Q1 202632$978m
Q4 202530$851m
Q3 202528$1.4bn
Q2 202528$1.5bn
Q1 202533$1.5bn
Q4 202426$1.9bn
Q3 202438$2.2bn
Q2 202435$1.8bn
Q1 202434$1.7bn
Q4 202331$1.2bn
Q3 202326$1.5bn
Q2 202329$1.7bn
Q1 202339$1.9bn
Q4 202238$1.6bn
Q3 202232$1.7bn
Q2 202239$2.0bn
Q1 202232$2.2bn
Q4 202140$2.5bn
Q3 202135$2.5bn
Q2 202139$2.6bn
Q1 202138$2.9bn
Q4 202033$2.9bn
Q3 202035$2.5bn
Q2 202037$2.5bn
Q1 202030$2.0bn
Q4 201934$3.7bn
Q3 201934$3.6bn
Q2 201938$3.1bn
Q1 201937$2.9bn
Q4 201831$2.5bn
Q3 201836$3.5bn
Q2 201839$3.9bn
Q1 201829$3.5bn
Q4 201725$3.2bn
Q3 201724$2.5bn
Q2 201723$2.4bn
Q1 201725$2.2bn
Q4 201620$2.1bn
Q3 201622$2.0bn
Q2 201627$1.9bn
Q1 201624$1.9bn
Q4 201526$2.0bn
Q3 201533$2.2bn
Q2 201531$2.0bn
Q1 201530$2.0bn
Q4 201433$1.7bn
Q3 201434$1.4bn
Q2 201431$1.5bn
Q1 201427$1.0bn
Q4 201331$1.0bn
Q3 201322$643m
Q2 201326$566m
Q1 201318$516m
Q4 201222$278m
Q3 201216$130m
Q2 201218$151m
Q1 201217$129m
Q4 201122$148m

Where Long Pond Capital, LP was early

69 rows
PMT PENNYMAC MTG INVT TRQ1 20122 of 823.3%3.3%6Exited by Q1 2016−18%
MAC MACERICH COQ4 20121 of 1100.8%6.4%9Exited by Q4 2020−88%
TCO TAUBMAN CTRS INCQ4 20121 of 786.8%16.6%20Exited by Q4 2018+14%
UDR UDR INCQ4 20121 of 11011.3%11.3%10Exited by Q4 2024+91%
EQR EQUITY RESIDENTIALQ4 20122 of 1203.4%15.4%22Exited by Q4 2025+14%
H HYATT HOTELS CORPQ4 20122 of 14813.5%13.5%36Exited by Q2 2026+273%
BXP BOSTON PPTYS LTD PARTNERSHIPQ1 20132 of 1131.2%1.9%5Exited by Q3 2020−11%
DRH DIAMONDROCK HOSPITALITY COQ1 20132 of 829.7%9.7%7Exited by Q2 2023−13%
BXMT BLACKSTONE MTG TR INCQ2 20131 of 8610.8%10.8%15Exited by Q1 2017+22%
CX CEMEX SAB DE CVQ2 20138 of 945.6%5.6%3Exited by Q3 2014+30%
MHK MOHAWK INDS INCQ2 20138 of 1731.4%4.6%9Exited by Q1 2019+4.0%
MTG MGIC INVT CORP WISQ2 201312 of 1292.5%2.5%3Exited by Q1 2015+54%
ELS EQUITY LIFESTYLE PROPERTIESQ3 20131 of 971.1%3.9%10Held at last filing, Q2 2026+277%
HLT HILTON WORLDWIDE HLDGS INCQ4 20131 of 2253.2%13.9%29Exited by Q2 2025+398%
AMH AMERICAN HOMES 4 RENTQ4 20132 of 1277.5%13.2%26Exited by Q2 2026+72%
CBRE CBRE GROUP INCQ4 20135 of 1586.9%7.6%13Exited by Q3 2024+239%
DHI D R HORTON INCQ4 201310 of 2012.0%18.8%31Exited by Q3 2025+478%
AWI ARMSTRONG WORLD INDS INC NEWQ1 20144 of 1333.0%3.0%2Exited by Q3 2014+7.8%
PENN PENN ENTERTAINMENT INCQ1 20144 of 1760.05%4.4%5Exited by Q3 2023+95%
BYD BOYD GAMING CORPQ1 20145 of 1414.1%4.1%17Exited by Q4 2024+390%
LNWO SCIENTIFIC GAMES CORPQ1 20145 of 1221.5%1.7%2Exited by Q3 2014−19%
MLCO MELCO RESORTS AND ENTMNT LTDQ1 201410 of 1080.4%4.3%18Exited by Q2 2024−81%
CSTE CAESARSTONE SDOT-YAM LTDQ2 20143 of 571.5%1.9%3Exited by Q1 2015+22%
MGM MGM RESORTS INTERNATIONALQ2 201411 of 2121.0%2.7%12Exited by Q3 2022+9.7%
NMIH NMI HLDGS INCQ3 20146 of 1130.9%1.5%7Exited by Q2 2016−42%
FNF FIDELITY NATIONAL FINANCIALQ3 201411 of 1566.4%7.0%8Exited by Q3 2016+35%
6PM PARAMOUNT GROUP INCQ4 20141 of 1033.7%10.1%31Exited by Q3 2025−67%
CPT CAMDEN PPTY TRQ1 20152 of 1241.9%16.0%26Held at last filing, Q2 2026+47%
M MACYS INCQ1 201512 of 1772.4%2.7%2Exited by Q3 2015+3.9%
MCD MCDONALDS CORPQ1 201515 of 1926.0%6.0%3Exited by Q4 2015+1.1%
BDN BRANDYWINE RLTY TRQ2 20151 of 801.2%1.7%2Exited by Q4 2015−7.2%
AL1 AIR LEASE CORPQ3 20152 of 1311.2%1.9%2Exited by Q1 2016+8.3%
VNO VORNADO RLTY TRQ3 20153 of 1262.5%9.8%13Exited by Q2 2025−49%
SRG SERITAGE GROWTH PPTYSQ3 20155 of 822.8%3.5%3Exited by Q2 2016+34%
BPOP POPULAR INCQ3 20156 of 1042.8%3.7%4Exited by Q3 2016−3.1%
KEY KEYCORP NEWQ4 20155 of 1321.2%3.1%3Exited by Q3 2016−16%
ESS ESSEX PPTY TR INCQ2 20163 of 1105.2%13.3%9Exited by Q2 2024+7.3%
MSGS MADISON SQUARE GRDN SPRT CORQ2 20165 of 1504.4%8.5%27Exited by Q1 2024+48%
MTH MERITAGE HOMES CORPQ2 20166 of 1201.2%5.3%12Exited by Q4 2025+286%
MAR MARRIOTT INTL INC NEWQ2 20168 of 1826.3%6.9%5Exited by Q3 2020+29%
CLGX CORELOGIC INCQ1 20177 of 941.0%1.7%3Exited by Q4 2017+14%
FOR FORESTAR GROUP INCQ2 20173 of 820.5%4.8%28Exited by Q4 2024+89%
KRC KILROY REALTY CORPQ3 20174 of 1082.3%6.3%15Exited by Q2 2026−60%
JBGS JBG SMITH PPTYSQ3 20175 of 870.7%10.9%36Held at last filing, Q2 2026−57%
FPH FIVE POINT HOLDINGS LLCQ4 20176 of 550.2%1.6%29Exited by Q1 2025−73%
VICI VICI PPTYS INCQ1 201810 of 1632.0%8.3%8Exited by Q1 2024+74%
EPRT ESSENTIAL PPTYS RLTY TR INCQ2 20181 of 871.1%2.4%6Exited by Q1 2024+89%
WH WYNDHAM HOTELS & RESORTS INCQ2 20181 of 1462.0%8.2%21Held at last filing, Q2 2026+43%
PEB PEBBLEBROOK HOTEL TRQ2 20182 of 1001.0%5.0%4Exited by Q2 2020−72%
DIA SPDR DOW JONES INDL AVERAGEQ2 20183 of 712.3%4.7%8Exited by Q3 2021+42%

Concentration and tenure

12.4%
Median largest position, all quarters
The largest single position as a share of the reported equity book.
66.5%
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