Landmark Investment Partners, L.P. In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Landmark Investment Partners, L.P. reported 18 stock positions worth $223.1 million . Its top holding was Essex Property Trust (ESS) at 11.9% of the portfolio, followed by Costar (CSGP, 10.0% ) and Douglas Emmett (DEI, 9.2% ). Compared with Q1 2025, it opened 4 new positions, sold out of 8, added to 4 and reduced 10. The biggest buy was a new position in Travel + Leisure (TNL) and the biggest sale an exit from First Industrial Realty TR (FR).
Location WEST PALM BEACH, FL
CIK 0002023551
Portfolio Value $223.1M (Q2 2025) Holdings 18 stocks · $223.1M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q1 2025 ESS Essex Property Trust Inc. 93,560 $26.5M Reduce -27.9% CSGP Costar Group Inc. 276,150 $22.2M Reduce -2.4% DEI Douglas Emmett Inc. 1,368,443 $20.6M Reduce -13.2% AIV Apartment Invt & Mgmt Co. Class A 1,924,818 $16.6M Reduce -6.0% HUDSON PAC PPTYS INC 5,810,119 $15.9M Add +272.8% TNL Travel + Leisure Co. 294,890 $15.2M New NXRT Nexpoint Residential 449,691 $15.0M Add +53.8% CNS Cohen & Steers Inc. 197,064 $14.8M Reduce -0.3% HHH Howard Hughes Holdings Inc. 211,262 $14.3M New HLT Hilton Worldwide Holdings Inc. 51,474 $13.7M Reduce -34.5% BKD Brookdale Senior Living Inc. 1,562,053 $10.9M Reduce -25.0% BX Blackstone Inc. 70,372 $10.5M Add +60.7% CBRE CBRE Group Inc. Class A 64,259 $9.0M Reduce -45.3% H Hyatt Hotels Corp. Class A 56,314 $7.9M Add +6.1% EQIX Equinix Inc. 5,209 $4.1M New BAM Brookfield Asset Mgmt-A 53,697 $3.0M Reduce -29.8% CPT Camden Property Trust 24,124 $2.7M Reduce -85.7% COMP Compass Inc. Class A 12,157 $76K New
Options reported separately and not counted above: VNQ puts ($13.7M), RSP puts ($13.3M), SPY puts ($11.4M), QQQ puts ($10.5M), MAA calls ($5.3M), VMRK calls ($5.3M), AVB calls ($4.9M), EQIX calls ($4.9M), BXP calls ($4.1M), OWL calls ($4.0M), PLD calls ($3.9M), SPG calls ($3.8M), and 41 more.
Portfolio Sells Q1 2025 → Q2 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock Change vs Q1 2025 % Of Portfolio Change To Portfolio ▲ FR First Industrial Realty TR Sold out 0.00% −7.10 VTR Ventas Inc. Sold out 0.00% −6.96 CHDN Churchill Downs Inc. Sold out 0.00% −5.56 CPT Camden Property Trust Reduce -85.7% 1.22% −5.23 MUSA Murphy USA Inc. Sold out 0.00% −3.75 AVB Avalonbay Communities Inc. Sold out 0.00% −3.46 PLD Prologis Inc. Sold out 0.00% −3.16 CLDT Chatham Lodging Trust Sold out 0.00% −0.79 CBRE CBRE Group Inc. Class A Reduce -45.3% 4.04% −0.78 ESS Essex Property Trust Inc. Reduce -27.9% 11.89% −0.57 GDEN Golden Entertainment Inc. Sold out 0.00% −0.13 BAM Brookfield Asset Mgmt-A Reduce -29.8% 1.33% +0.17 HLT Hilton Worldwide Holdings Inc. Reduce -34.5% 6.15% +0.55 BKD Brookdale Senior Living Inc. Reduce -25.0% 4.87% +0.79 DEI Douglas Emmett Inc. Reduce -13.2% 9.23% +1.33 CNS Cohen & Steers Inc. Reduce -0.3% 6.66% +1.69 AIV Apartment Invt & Mgmt Co. Class A Reduce -6.0% 7.46% +1.82 CSGP Costar Group Inc. Reduce -2.4% 9.95% +2.94
Portfolio Buys Q1 2025 → Q2 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock Change vs Q1 2025 % Of Portfolio Change To Portfolio ▼ TNL Travel + Leisure Co. New 6.82% +6.82 HHH Howard Hughes Holdings Inc. New 6.39% +6.39 HUDSON PAC PPTYS INC Add +272.8% 7.14% +5.70 NXRT Nexpoint Residential Add +53.8% 6.72% +3.10 BX Blackstone Inc. Add +60.7% 4.72% +2.80 EQIX Equinix Inc. New 1.86% +1.86 H Hyatt Hotels Corp. Class A Add +6.1% 3.53% +1.49 COMP Compass Inc. Class A New 0.03% +0.03
Options Activity Q1 2025 → Q2 2025 Security Type Change vs Q1 2025 Underlying Shares Value ▼ VNQ Vanguard Real Estate ETF put Add +64.5% 154,000 $13.7M RSP Invesco S&P 500 Equal Weight put New 73,400 $13.3M SPY SS SPDR S&P 500 ETF Trust-US put Reduce -2.6% 18,500 $11.4M QQQ Invesco QQQ Trust Series 1 put New 19,000 $10.5M HYG Ishr Ibx Usd Hiyld CB ETF-Ui put Sold out 94,000 $7.4Mbefore exit MAA Mid-America Apartment Comm call New 36,000 $5.3M VMRK Vivmark Residential call New 78,500 $5.3M TLT iShares 20+ Year Treasury BD put Sold out 56,000 $5.1Mbefore exit AVB Avalonbay Communities Inc. call New 23,900 $4.9M EQIX Equinix Inc. call New 6,100 $4.9M BXP BXP Inc. call New 60,800 $4.1M OWL Blue Owl Capital Inc. call New 207,300 $4.0M PLD Prologis Inc. call Add +30.1% 37,200 $3.9M SPG Simon Property Group Inc. call New 23,400 $3.8M VNO Vornado Realty Trust call New 95,500 $3.7M RHP Ryman Hospitality Properties call New 33,000 $3.3M CPT Camden Property Trust call New 27,500 $3.1M ARE Alexandria Real Estate Equit call New 41,000 $3.0M APO Apollo Global Management Inc. call New 20,800 $3.0M ESS Essex Property Trust Inc. call New 9,900 $2.8M AIV Apartment Invt & Mgmt Co. Class A call New 288,700 $2.5M JLL Jones Lang Lasalle Inc. call New 9,700 $2.5M CBRE CBRE Group Inc. Class A call Reduce -53.6% 17,400 $2.4M DEI Douglas Emmett Inc. call Add +54.9% 160,000 $2.4M SLG SL Green Realty Corp. call New 38,600 $2.4M KRC Kilroy Realty Corp. call New 66,400 $2.3M DOC Healthpeak Properties Inc. call New 130,000 $2.3M SUI Sun Communities Inc. call New 17,400 $2.2M VTR Ventas Inc. call New 34,800 $2.2M SKT Tanger Inc. call New 70,000 $2.1M PSA Public Storage call New 7,200 $2.1M OHI Omega Healthcare Investors call New 57,500 $2.1M HLT Hilton Worldwide Holdings Inc. call Reduce -66.3% 7,100 $1.9M BAM Brookfield Asset Mgmt-A call Sold out 37,500 $1.8Mbefore exit EXPE Expedia Group Inc. call Sold out 10,000 $1.7Mbefore exit BN Brookfield Corp. call New 27,000 $1.7M MTN Vail Resorts Inc. call New 10,600 $1.7M HUDSON PAC PPTYS INC call New 600,000 $1.6M BYD Boyd Gaming Corp. call Sold out 24,000 $1.6Mbefore exit BX Blackstone Inc. call Reduce -33.3% 8,000 $1.2M CSGP Costar Group Inc. call Reduce -65.2% 14,700 $1.2M TNL Travel + Leisure Co. call New 22,800 $1.2M WPC WP Carey Inc. call New 18,000 $1.1M UDR Udr Inc. call New 26,700 $1.1M VICI Vici Properties Inc. call New 33,300 $1.1M H Hyatt Hotels Corp. Class A call Reduce -77.5% 7,700 $1.1M KIM Kimco Realty Corp. call New 50,000 $1.1M COMP Compass Inc. Class A call New 160,000 $1.0M FUN Six Flags Entertainment Corp. call New 20,000 $609K KKR KKR & Co. Inc. call New 4,500 $599K
Showing the first 50 of 58.
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 21 $108.1M DEI, CNS, NXRT, COMP, UDR Q1 2026 20 $96.8M HLT, AIV, CNS, CBRE, DEI Q4 2025 17 $116.8M AIV, DEI, HLT, CSGP, CNS Q3 2025 16 $122.1M CSGP, HHH, DEI, HUDSON PAC PPTYS INC, CNS Q2 2025 18 $223.1M ESS, CSGP, DEI, AIV, HUDSON PAC PPTYS INC Q1 2025 22 $319.5M ESS, DEI, FR, CSGP, VTR Q4 2024 18 $247.4M AMH, ESS, CPT, KRC, PK