WhaleCreep

Long Pond Capital, LP 13F holdings, Q4 2025

Hedge fundSEC filingsCompare with another fundHoldings as of 2025-12-31, filed 2026-02-13

Long Pond Capital, LP disclosed 30 US equity positions worth $851.2m in its Q4 2025 13F filing. Its largest position is COLD at 8.8% of the reported book, followed by NSA* and JBGS. Versus Q3 2025 it opened 11 new positions, added to 8, reduced 9 and exited 9.

$851m
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
30
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
8.8%
Largest position
The largest single position as a share of the reported equity book.
62.8%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
19
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 Q3 2025: 11 new, 8 added, 9 reduced, 9 exited

30 rows
COLD AMERICOLD REALTY TRUST INCReal Estate8.8%$74.9m5.82m−25%reduced
NSA* NATIONAL STORAGE AFFILIATES–8.6%$73.1m2.59m−33%reduced
JBGS JBG SMITH PPTYSReal Estate8.3%$70.5m4.15m+28%added
TRTX TPG RE FIN TR INCReal Estate7.1%$60.6m7.03m+1.9%added
COMP COMPASS INCReal Estate6.2%$52.9m5.00m+223%added
INN SUMMIT HOTEL PPTYSReal Estate5.4%$45.8m9.40m0.0%held
PLD PROLOGIS INC.Real Estate5.2%$44.7m350,000+10455%added
GLPI GAMING & LEISURE PReal Estate5.2%$44.4m993,810–new
CZR CAESARS ENTERTAINMENT INC NEConsumer Cyclical4.1%$34.6m1.48m+54%added
HGV HILTON GRAND VACATIONS INCConsumer Cyclical3.8%$32.8m732,021+13%added
H HYATT HOTELS CORPConsumer Cyclical3.8%$32.6m203,489−36%reduced
PRKS UNITED PARKS & RESORTS INCConsumer Cyclical3.6%$31.0m855,000–new
CSR CENTERSPACEReal Estate3.5%$29.6m444,101+108%added
WH WYNDHAM HOTELS & RESORTS INCConsumer Cyclical3.0%$25.5m337,800–new
AVBC AVALONBAY CMNTYS INCFinancial Services3.0%$25.4m140,000–new
NXRT NEXPOINT RESIDENTIAL TR INCReal Estate3.0%$25.4m842,870+55%added
ARE ALEXANDRIA REAL ESTATE EQ INReal Estate2.8%$23.5m479,200–new
IRT INDEPENDENCE RLTY TR INCReal Estate2.1%$17.5m1.00m−92%reduced
TREX TREX INCIndustrials2.0%$17.0m484,286–new
SAFE SAFEHOLD INCReal Estate1.5%$12.9m944,939–new
KREF KKR REAL ESTATE FIN TR INCReal Estate1.5%$12.8m1.56m−33%reduced
CUBE CUBESMARTReal Estate1.5%$12.5m346,928–new
SMRT SMARTRENT INCTechnology1.3%$11.3m5.61m−7.5%reduced
MHO M/I HOMES INCConsumer Cyclical1.1%$9.1m71,096−69%reduced
LINE LINEAGE INCReal Estate0.8%$6.4m184,158–new
SLG SL GREEN RLTY CORPReal Estate0.7%$6.3m138,230–new
CPT CAMDEN PPTY TRReal Estate0.7%$5.9m53,679−97%reduced
MAA MID-AMER APT CMNTYS INCReal Estate0.6%$5.5m39,723−41%reduced
SHO SUNSTONE HOTEL INVS INC NEWReal Estate0.5%$4.3m485,2370.0%held
VERIS RESIDENTIAL INC no ticker–0.3%$2.2m150,000–new

Exited since Q3 2025

9 rows
JHX JAMES HARDIE INDS PLC10.1%$139m
TMHC* TAYLOR MORRISON HOME CORP6.6%$91.1m
AMH AMERICAN HOMES 4 RENT3.8%$52.0m
LXPUSD LXP INDUSTRIAL TRUST2.5%$34.0m
ELS EQUITY LIFESTYLE PROPERTIES1.6%$21.5m
PLYM PLYMOUTH INDL REIT INC0.8%$11.0m
FUN SIX FLAGS ENTERTAINMENT CORP0.5%$6.6m
MTH MERITAGE HOMES CORP0.2%$3.4m
EQR EQUITY RESIDENTIAL0.09%$1.3m

Sector mix

  • Real Estate65.4%
  • Consumer Cyclical19.5%
  • Unclassified8.9%
  • Financial Services3.0%
  • Industrials2.0%
  • Technology1.3%

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