In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), Long Pond Capital, LP reported 28 stock positions worth $1.5 billion . Its top holding was Hyatt Hotels Class A (H) at 8.5% of the portfolio, followed by Wyndham Hotels & Resorts (WH, 8.1% ) and Brightstar Lottery (BRSL, 7.9% ). Compared with Q1 2025, it opened 9 new positions, sold out of 14, added to 9 and reduced 8. The biggest buy was Wyndham Hotels & Resorts (WH, shares +546% ) and the biggest sale an exit from Hilton Worldwide (HLT).
Location New York, NY
CIK 0001499066
Portfolio Value $1.5B (Q2 2025) Holdings 28 stocks · $1.5B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q1 2025 H Hyatt Hotels Corp. Class A 921,222 $128.6M Reduce -41.2% WH Wyndham Hotels & Resorts Inc. 1,505,781 $122.3M Add +545.8% BRSL Brightstar Lottery PLC filed as INTERNATIONAL GAME TECHNOLOG 7,566,764 $119.6M Add +134.7% CPT Camden Property Trust 1,022,742 $115.3M Add +209.6% FUN Six Flags Entertainment Corp. 3,296,660 $100.3M Add +55.2% IRT Independence Realty Trust Inc. 5,500,502 $97.3M Add +564.5% DHI D.R. Horton Inc. 744,637 $96.0M Reduce -10.2% TMHC Taylor Morrison Home Corp. 1,561,586 $95.9M Add +132.4% NSA National Storage Affiliates 2,498,789 $79.9M New TOL Toll Brothers Inc. 641,844 $73.3M Reduce -42.5% JBGS JBG Smith Properties 3,834,033 $66.3M Add +6.4% TRTX TPG Re Finance Trust Inc. 7,303,626 $56.4M No change HGV Hilton Grand Vacations Inc. 1,310,726 $54.4M Reduce -28.4% JLL Jones Lang Lasalle Inc. 200,837 $51.4M New INN Summit Hotel Properties Inc. 9,400,000 $47.8M New RRR Red Rock Resorts Inc. Class A 902,644 $47.0M Reduce -25.6% SPG Simon Property Group Inc. 208,500 $33.5M New KRC Kilroy Realty Corp. 785,140 $26.9M Add +6.4% MTH Meritage Homes Corp. 278,334 $18.6M Reduce -75.3% AIV Apartment Invt & Mgmt Co. Class A 1,697,757 $14.7M New MAA Mid-America Apartment Comm 94,417 $14.0M Add +0.9% PGRE Paramount Group Inc. 2,282,871 $13.9M Reduce -80.5% DBRG Digitalbridge Group Inc. 1,328,167 $13.7M New MHO M/I Homes Inc. 122,140 $13.7M New SMRT Smartrent Inc. 10,066,093 $10.0M No change PLD Prologis Inc. 34,550 $3.6M New CZR Caesars Entertainment Inc. 90,773 $2.6M Reduce -86.7% LXP LXP Industrial Trust 150,000 $1.2M New
Options reported separately and not counted above: BRSL calls ($31.6M).
Portfolio Sells Q1 2025 → Q2 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2025 % Of Portfolio Change To Portfolio ▲ HLT Hilton Worldwide Holdings Inc. Sold out 0.00% −5.38 H Hyatt Hotels Corp. Class A Reduce -41.2% 8.47% −4.28 MTH Meritage Homes Corp. Reduce -75.3% 1.23% −4.07 KRG Kite Realty Group Trust Sold out 0.00% −4.03 PLYA Playa Hotels & Resorts NV Sold out 0.00% −3.33 CUBE Cubesmart Sold out 0.00% −3.15 TOL Toll Brothers Inc. Reduce -42.5% 4.82% −3.01 WYNN WYNN Resorts Ltd. Sold out 0.00% −2.99 PGRE Paramount Group Inc. Reduce -80.5% 0.92% −2.44 VTMX Corp. Inmobiliaria Vesta-ADR Sold out 0.00% −1.44 REXR Rexford Industrial Realty Inc. Sold out 0.00% −1.37 HGV Hilton Grand Vacations Inc. Reduce -28.4% 3.58% −0.96 CZR Caesars Entertainment Inc. Reduce -86.7% 0.17% −0.96 PHM Pultegroup Inc. Sold out 0.00% −0.94 MSGE Madison Square Garden Entert Sold out 0.00% −0.91 VAC Marriott Vacations World Sold out 0.00% −0.77 GDEN Golden Entertainment Inc. Sold out 0.00% −0.76 UHAL.B U-Haul Holding Co.-Non Voting Sold out 0.00% −0.74 DHI D.R. Horton Inc. Reduce -10.2% 6.32% −0.68 DEI Douglas Emmett Inc. Sold out 0.00% −0.63 VNO Vornado Realty Trust Sold out 0.00% −0.44 RRR Red Rock Resorts Inc. Class A Reduce -25.6% 3.09% −0.40
Portfolio Buys Q1 2025 → Q2 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2025 % Of Portfolio Change To Portfolio ▼ WH Wyndham Hotels & Resorts Inc. Add +545.8% 8.05% +6.65 NSA National Storage Affiliates New 5.26% +5.26 IRT Independence Realty Trust Inc. Add +564.5% 6.41% +5.24 CPT Camden Property Trust Add +209.6% 7.59% +4.91 BRSL Brightstar Lottery PLC Add +134.7% 7.88% +4.40 TMHC Taylor Morrison Home Corp. Add +132.4% 6.32% +3.64 JLL Jones Lang Lasalle Inc. New 3.38% +3.38 INN Summit Hotel Properties Inc. New 3.15% +3.15 SPG Simon Property Group Inc. New 2.21% +2.21 FUN Six Flags Entertainment Corp. Add +55.2% 6.61% +1.57 AIV Apartment Invt & Mgmt Co. Class A New 0.97% +0.97 DBRG Digitalbridge Group Inc. New 0.91% +0.91 MHO M/I Homes Inc. New 0.90% +0.90 JBGS JBG Smith Properties Add +6.4% 4.37% +0.51 PLD Prologis Inc. New 0.24% +0.24 KRC Kilroy Realty Corp. Add +6.4% 1.77% +0.17 LXP LXP Industrial Trust New 0.08% +0.08 MAA Mid-America Apartment Comm Add +0.9% 0.92% −0.12
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 30 $953.9M SBAC, IRT, JAN, HGV, JBGS Q1 2026 32 $978.1M IRT, JAN, JBGS, WH, TRTX Q4 2025 30 $851.2M COLD, NSA, JBGS, TRTX, COMP Q3 2025 28 $1.4B CPT, IRT, JHX, NSA, COLD Q2 2025 28 $1.5B H, WH, BRSL, CPT, FUN Q1 2025 33 $1.5B H, TOL, DHI, HLT, MTH Q4 2024 26 $1.9B ADC, IRT, DHI, CPT, LEN Q3 2024 38 $2.2B ADC, DHI, IRT, CPT, LEN Q2 2024 35 $1.8B DHI, IRT, ADC, COLD, CPT Q1 2024 34 $1.7B IRT, ADC, CPT, NNN, JBGS