Masterton Capital Management, LP
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Masterton Capital Management, LP reported 14 stock positions worth $127.6 million. Its top holding was NNN REIT (NNN) at 14.8% of the portfolio, followed by Federal Realty Invs Trust (FRT, 14.4%) and Agree Realty (ADC, 10.1%). Compared with Q4 2023, it opened 3 new positions, sold out of 3, added to 6 and reduced 4. The biggest buy was a new position in Avalonbay Communities (AVB) and the biggest sale TJX Companies (TJX, shares −46%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001817145
- Portfolio Value
- $127.6M (Q1 2024)
- SEC Filing
- 0001892688-24-000063 ↗ filed May 15, 2024
Holdings Value
Holdings 14 stocks · $127.6M
| NNN NNN REIT Inc. | 14.77% | 440,824 | $18.8M | Add +3.9% |
| FRT Federal Realty Invs Trust | 14.39% | 179,753 | $18.4M | No change |
| ADC Agree Realty Corp. | 10.14% | 226,600 | $12.9M | Add +17.7% |
| AVB Avalonbay Communities Inc. | 10.06% | 69,200 | $12.8M | New |
| VMRK Vivmark Residential filed as EQUITY RESIDENTIAL | 8.67% | 175,188 | $11.1M | Reduce -29.2% |
| MCD McDonald's Corp. | 8.57% | 38,800 | $10.9M | Add +33.3% |
| LOW Lowe's Cos Inc. | 6.37% | 31,900 | $8.1M | Add +67.9% |
| PLD Prologis Inc. | 5.89% | 57,700 | $7.5M | Add +176.1% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 5.39% | 67,805 | $6.9M | Reduce -45.6% |
| ESS Essex Property Trust Inc. | 4.07% | 21,200 | $5.2M | Reduce -36.1% |
| NKE Nike Inc. Class B | 3.79% | 51,400 | $4.8M | New |
| REG Regency Centers Corp. | 3.17% | 66,800 | $4.0M | New |
| PFGC Performance Food Group Co. | 2.42% | 41,349 | $3.1M | Reduce -61.7% |
| REXR Rexford Industrial Realty Inc. | 2.31% | 58,500 | $2.9M | Add +21.4% |
Portfolio Sells Q4 2023 → Q1 2024
| TJX TJX Companies Inc. | Reduce -45.6% | 5.39% | −4.72 |
| VMRK Vivmark Residential | Reduce -29.2% | 8.67% | −4.40 |
| PFGC Performance Food Group Co. | Reduce -61.7% | 2.42% | −4.03 |
| ESS Essex Property Trust Inc. | Reduce -36.1% | 4.07% | −3.05 |
| YUM Yum! Brands Inc. | Sold out | 0.00% | −2.68 |
| KRC Kilroy Realty Corp. | Sold out | 0.00% | −1.27 |
| DEI Douglas Emmett Inc. | Sold out | 0.00% | −1.18 |
Portfolio Buys Q4 2023 → Q1 2024
| AVB Avalonbay Communities Inc. | New | 10.06% | +10.06 |
| NKE Nike Inc. Class B | New | 3.79% | +3.79 |
| PLD Prologis Inc. | Add +176.1% | 5.89% | +3.48 |
| REG Regency Centers Corp. | New | 3.17% | +3.17 |
| LOW Lowe's Cos Inc. | Add +67.9% | 6.37% | +2.71 |
| MCD McDonald's Corp. | Add +33.3% | 8.57% | +1.12 |
| REXR Rexford Industrial Realty Inc. | Add +21.4% | 2.31% | −0.03 |
| ADC Agree Realty Corp. | Add +17.7% | 10.14% | −0.33 |
| NNN NNN REIT Inc. | Add +3.9% | 14.77% | −1.03 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 24 | $118.1M | PLD, CBRE, FRT, ADC, SYY |
| Q1 2026 | 19 | $109.8M | FRT, PFGC, KIM, PLD, APLE |
| Q4 2025 | 22 | $143.5M | VMRK, FRT, PSA, AMH, INVH |
| Q3 2025 | 21 | $182.4M | FRT, VMRK, PSA, INVH, AMH |
| Q2 2025 | 20 | $165.4M | AMH, APLE, AZEK, BXP, DKS |
| Q1 2025 | 21 | $146.5M | KIM, PLD, ESS, ROST, APLE |
| Q4 2024 | 22 | $176.5M | FRT, VICI, REXR, NNN, AMH |
| Q3 2024 | 21 | $150.0M | REXR, FRT, VICI, NNN, VMRK |
| Q2 2024 | 19 | $140.1M | PLD, ADC, REXR, AMH, REG |
| Q1 2024 | 14 | $127.6M | NNN, FRT, ADC, AVB, VMRK |