WhaleCreep

Long Pond Capital, LP 13F holdings, Q2 2018

Hedge fundSEC filingsCompare with another fundHoldings as of 2018-06-30, filed 2018-08-13

Long Pond Capital, LP disclosed 39 US equity positions worth $3.9bn in its Q2 2018 13F filing. Its largest position is DHI at 14.0% of the reported book, followed by LEN and VNO. Versus Q1 2018 it opened 18 new positions, added to 6, reduced 13 and exited 8.

$3.9bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
39
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
14.0%
Largest position
The largest single position as a share of the reported equity book.
63.3%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
18
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 2018: 18 new, 6 added, 13 reduced, 8 exited

39 rows
DHI D R HORTON INCConsumer Cyclical14.0%$539m13.16m+15%added
LEN LENNAR CORPConsumer Cyclical7.1%$273m5.20m+197%added
VNO VORNADO RLTY TRReal Estate6.8%$263m3.56m−23%reduced
CZREUR CAESARS ENTMT CORP–6.5%$251m23.45m+6.2%added
APARTMENT INVT & MGMT CO no ticker–6.5%$250m5.92m−20%reduced
AMH AMERICAN HOMES 4 RENTReal Estate6.1%$235m10.61m−2.4%reduced
6PM PARAMOUNT GROUP INC–5.7%$220m14.26m−6.7%reduced
MHK MOHAWK INDS INCConsumer Cyclical4.1%$158m739,307–new
AVBC AVALONBAY CMNTYS INCFinancial Services3.4%$131m764,656+71%added
HLT HILTON WORLDWIDE HLDGS INCConsumer Cyclical3.2%$122m1.54m–new
DIA STATE STR SPDR DOW JONES IND–2.3%$88.0m362,400–new
JBGS JBG SMITH PPTYSReal Estate2.3%$87.9m2.41m−21%reduced
LASALLE HOTEL PPTYS no ticker–2.1%$82.5m2.41m−61%reduced
QUALITY CARE PPTYS INC no ticker–2.1%$80.5m3.74m−23%reduced
WH WYNDHAM HOTELS & RESORTS INCConsumer Cyclical2.0%$79.0m1.34m–new
TCO TAUBMAN CTRS INC–2.0%$78.1m1.33m−48%reduced
REXR REXFORD INDL RLTY INCReal Estate2.0%$78.0m2.49m–new
SLG2EUR SL GREEN RLTY CORP–2.0%$77.9m774,524−34%reduced
FOR FORESTAR GROUP INCReal Estate1.9%$75.1m3.62m0.0%held
PLD PROLOGIS INC.Real Estate1.7%$65.0m989,700–new
TMHC* TAYLOR MORRISON HOME CORP–1.6%$62.4m3.00m–new
CXPUSD COLUMBIA PPTY TR INC–1.5%$57.2m2.52m–new
CCL CARNIVAL CORPConsumer Cyclical1.3%$51.3m895,288–new
HEALTHCARE TR AMER INC no ticker–1.3%$51.3m1.90m–new
FPH FIVE POINT HOLDINGS LLCReal Estate1.1%$41.0m3.65m+112%added
ESRT EMPIRE ST RLTY TR INCReal Estate1.1%$40.9m2.39m–new
EPRT ESSENTIAL PPTYS RLTY TR INCReal Estate1.1%$40.6m3.00m–new
PEB PEBBLEBROOK HOTEL TRReal Estate1.0%$39.2m1.01m–new
VICI VICI PPTYS INCReal Estate1.0%$39.0m1.89m−50%reduced
MAC MACERICH COReal Estate0.8%$28.9m509,300+27%added
BKIEUR BLACK KNIGHT INC–0.7%$26.9m502,194−2.5%reduced
H HYATT HOTELS CORPConsumer Cyclical0.7%$25.7m333,347−36%reduced
VAC MARRIOTT VACATIONS WORLDWIDEConsumer Cyclical0.6%$25.0m221,743–new
CHH CHOICE HOTELS INTL INCConsumer Cyclical0.6%$24.6m325,9140.0%held
LOW LOWES COS INCConsumer Cyclical0.5%$20.0m208,968–new
STAYUSD EXTENDED STAY AMER INC–0.5%$18.8m871,805–new
NEW YORK REIT INC no ticker–0.3%$13.0m710,760−17%reduced
PENNYMAC FINL SVCS INC no ticker–0.3%$12.3m625,000–new
BELMOND LTD no ticker–0.1%$4.4m397,848–new

Exited since Q1 2018

8 rows
ARCPEUR VEREIT INC3.1%$107m
SPIRIT RLTY CAP INC NEW no ticker3.0%$104m
RPAIUSD RETAIL PPTYS AMER INC2.8%$96.4m
LA QUINTA HLDGS INC no ticker2.6%$92.3m
APLE APPLE HOSPITALITY REIT INC1.9%$64.8m
BRX BRIXMOR PPTY GROUP INC1.4%$48.7m
MSGS MADISON SQUARE GRDN SPRT COR1.1%$38.7m
GRAMERCY PPTY TR no ticker1.0%$35.5m

Sector mix

  • Unclassified35.6%
  • Consumer Cyclical34.2%
  • Real Estate26.8%
  • Financial Services3.4%

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