Long Pond Capital, LP
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Long Pond Capital, LP reported 30 stock positions worth $851.2 million. Its top holding was Americold Realty Trust (COLD) at 8.8% of the portfolio, followed by National Storage Affiliates (NSA, 8.6%) and JBG Smith Properties (JBGS, 8.3%). Compared with Q3 2025, it opened 11 new positions, sold out of 9, added to 8 and reduced 9. The biggest buy was Compass Class A (COMP, shares +223%) and the biggest sale Camden Property Trust (CPT, shares −97%).
- Most Recent 13F
- Q2 2026
- Location
- New York, NY
- CIK
- 0001499066
- Portfolio Value
- $851.2M (Q4 2025)
- SEC Filing
- 0001172661-26-000802 ↗ filed Feb 13, 2026
Holdings Value
Holdings 30 stocks · $851.2M
| COLD Americold Realty Trust Inc. | 8.80% | 5,824,989 | $74.9M | Reduce -24.9% |
| NSA National Storage Affiliates | 8.59% | 2,591,313 | $73.1M | Reduce -32.6% |
| JBGS JBG Smith Properties | 8.29% | 4,147,399 | $70.5M | Add +28.4% |
| TRTX TPG Re Finance Trust Inc. | 7.11% | 7,032,626 | $60.6M | Add +1.9% |
| COMP Compass Inc. Class A | 6.21% | 5,000,000 | $52.9M | Add +222.6% |
| INN Summit Hotel Properties Inc. | 5.38% | 9,400,000 | $45.8M | No change |
| PLD Prologis Inc. | 5.25% | 350,000 | $44.7M | Add +10454.9% |
| GLPI Gaming and Leisure Propertie | 5.22% | 993,810 | $44.4M | New |
| CZR Caesars Entertainment Inc. | 4.07% | 1,479,336 | $34.6M | Add +54.2% |
| HGV Hilton Grand Vacations Inc. | 3.85% | 732,021 | $32.8M | Add +13.0% |
| H Hyatt Hotels Corp. Class A | 3.83% | 203,489 | $32.6M | Reduce -35.9% |
| PRKS United Parks & Resorts Inc. | 3.65% | 855,000 | $31.0M | New |
| CSR Centerspace | 3.48% | 444,101 | $29.6M | Add +108.0% |
| WH Wyndham Hotels & Resorts Inc. | 3.00% | 337,800 | $25.5M | New |
| AVB Avalonbay Communities Inc. | 2.98% | 140,000 | $25.4M | New |
| NXRT Nexpoint Residential | 2.98% | 842,870 | $25.4M | Add +54.9% |
| ARE Alexandria Real Estate Equit | 2.76% | 479,200 | $23.5M | New |
| IRT Independence Realty Trust Inc. | 2.05% | 1,000,578 | $17.5M | Reduce -91.9% |
| TREX Trex Company Inc. | 2.00% | 484,286 | $17.0M | New |
| SAFE Safehold Inc. | 1.52% | 944,939 | $12.9M | New |
| KREF KKR Real Estate Finance Trus | 1.51% | 1,563,088 | $12.8M | Reduce -32.7% |
| CUBE Cubesmart | 1.47% | 346,928 | $12.5M | New |
| SMRT Smartrent Inc. | 1.33% | 5,610,150 | $11.3M | Reduce -7.5% |
| MHO M/I Homes Inc. | 1.07% | 71,096 | $9.1M | Reduce -68.8% |
| LINE Lineage Inc. | 0.76% | 184,158 | $6.4M | New |
| SLG SL Green Realty Corp. | 0.74% | 138,230 | $6.3M | New |
| CPT Camden Property Trust | 0.69% | 53,679 | $5.9M | Reduce -97.2% |
| MAA Mid-America Apartment Comm | 0.65% | 39,723 | $5.5M | Reduce -41.2% |
| SHO Sunstone Hotel Investors Inc. | 0.51% | 485,237 | $4.3M | No change |
| VRE Veris Residential Inc. | 0.26% | 150,000 | $2.2M | New |
Portfolio Sells Q3 2025 → Q4 2025
| CPT Camden Property Trust | Reduce -97.2% | 0.69% | −14.36 |
| IRT Independence Realty Trust Inc. | Reduce -91.9% | 2.05% | −12.55 |
| JHX James Hardie Ind PLC | Sold out | 0.00% | −10.09 |
| TMHC Taylor Morrison Home Corp. | Sold out | 0.00% | −6.60 |
| AMH American Homes 4 Rent- A | Sold out | 0.00% | −3.77 |
| LXP LXP Industrial Trust | Sold out | 0.00% | −2.47 |
| ELS Equity Lifestyle Properties | Sold out | 0.00% | −1.56 |
| MHO M/I Homes Inc. | Reduce -68.8% | 1.07% | −1.31 |
| PLYM Plymouth Industrial REIT Inc. | Sold out | 0.00% | −0.80 |
| FUN Six Flags Entertainment Corp. | Sold out | 0.00% | −0.48 |
| MTH Meritage Homes Corp. | Sold out | 0.00% | −0.24 |
| VMRK Vivmark Residential | Sold out | 0.00% | −0.09 |
| MAA Mid-America Apartment Comm | Reduce -41.2% | 0.65% | −0.04 |
| KREF KKR Real Estate Finance Trus | Reduce -32.7% | 1.51% | −0.00 |
| NSA National Storage Affiliates | Reduce -32.6% | 8.59% | +0.17 |
| H Hyatt Hotels Corp. Class A | Reduce -35.9% | 3.83% | +0.57 |
| SMRT Smartrent Inc. | Reduce -7.5% | 1.33% | +0.71 |
| COLD Americold Realty Trust Inc. | Reduce -24.9% | 8.80% | +1.92 |
Portfolio Buys Q3 2025 → Q4 2025
| COMP Compass Inc. Class A | Add +222.6% | 6.21% | +5.31 |
| PLD Prologis Inc. | Add +10454.9% | 5.25% | +5.22 |
| GLPI Gaming and Leisure Propertie | New | 5.22% | +5.22 |
| PRKS United Parks & Resorts Inc. | New | 3.65% | +3.65 |
| JBGS JBG Smith Properties | Add +28.4% | 8.29% | +3.08 |
| WH Wyndham Hotels & Resorts Inc. | New | 3.00% | +3.00 |
| AVB Avalonbay Communities Inc. | New | 2.98% | +2.98 |
| TRTX TPG Re Finance Trust Inc. | Add +1.9% | 7.11% | +2.84 |
| ARE Alexandria Real Estate Equit | New | 2.76% | +2.76 |
| CSR Centerspace | Add +108.0% | 3.48% | +2.57 |
| CZR Caesars Entertainment Inc. | Add +54.2% | 4.07% | +2.19 |
| TREX Trex Company Inc. | New | 2.00% | +2.00 |
| HGV Hilton Grand Vacations Inc. | Add +13.0% | 3.85% | +1.89 |
| NXRT Nexpoint Residential | Add +54.9% | 2.98% | +1.71 |
| SAFE Safehold Inc. | New | 1.52% | +1.52 |
| CUBE Cubesmart | New | 1.47% | +1.47 |
| LINE Lineage Inc. | New | 0.76% | +0.76 |
| SLG SL Green Realty Corp. | New | 0.74% | +0.74 |
| VRE Veris Residential Inc. | New | 0.26% | +0.26 |
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 |