Masterton Capital Management, LP
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Masterton Capital Management, LP reported 21 stock positions worth $146.5 million. Its top holding was Kimco Realty (KIM) at 11.0% of the portfolio, followed by Prologis (PLD, 9.3%) and Essex Property Trust (ESS, 8.1%). Compared with Q4 2024, it sold out of 1, added to 9 and reduced 12. The biggest buy was Prologis (PLD, shares +319%) and the biggest sale Vici Properties (VICI, shares −89%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001817145
- Portfolio Value
- $146.5M (Q1 2025)
- SEC Filing
- 0001892688-25-000124 ↗ filed May 15, 2025
Holdings Value
Holdings 21 stocks · $146.5M
| KIM Kimco Realty Corp. | 10.98% | 164,446 | $16.1M | Reduce -28.1% |
| PLD Prologis Inc. | 9.26% | 172,487 | $13.6M | Add +319.2% |
| ESS Essex Property Trust Inc. | 8.09% | 165,624 | $11.9M | Add +1026.7% |
| ROST Ross Stores Inc. | 7.94% | 91,084 | $11.6M | Add +61.3% |
| APLE Apple Hospitality REIT Inc. | 6.15% | 697,626 | $9.0M | Add +73.5% |
| FRT Federal Realty Invs Trust | 6.00% | 28,700 | $8.8M | Reduce -81.6% |
| REG Regency Centers Corp. | 5.87% | 28,742 | $8.6M | Reduce -73.8% |
| NNN NNN REIT Inc. | 5.71% | 239,879 | $8.4M | Reduce -25.4% |
| TREX Trex Company Inc. | 5.67% | 143,117 | $8.3M | Add +95.8% |
| AMH American Homes 4 Rent- A | 5.28% | 204,754 | $7.7M | Reduce -36.4% |
| DKS Dick's Sporting Goods Inc. | 4.90% | 56,463 | $7.2M | Add +213.7% |
| AZEK The Azek Co. Inc. | 4.40% | 27,071 | $6.5M | Reduce -68.0% |
| PFGC Performance Food Group Co. | 3.77% | 260,413 | $5.5M | Add +204.3% |
| VMRK Vivmark Residential filed as EQUITY RESIDENTIAL | 2.88% | 20,924 | $4.2M | Reduce -84.4% |
| BXP BXP Inc. | 2.75% | 60,000 | $4.0M | Reduce -50.4% |
| RLJ RLJ Lodging Trust | 2.54% | 470,938 | $3.7M | Add +56.3% |
| INVH Invitation Homes Inc. | 2.33% | 23,000 | $3.4M | Reduce -91.5% |
| SHW The Sherwin-Williams Co. | 1.79% | 7,500 | $2.6M | Reduce -63.6% |
| REXR Rexford Industrial Realty Inc. | 1.40% | 27,752 | $2.0M | Reduce -92.9% |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 1.33% | 59,617 | $1.9M | Reduce -89.3% |
| LPX Louisiana-Pacific Corp. | 0.96% | 98,826 | $1.4M | Add +163.4% |
Portfolio Sells Q4 2024 → Q1 2025
| VICI Vici Properties Inc. | Reduce -89.3% | 1.33% | −7.90 |
| REXR Rexford Industrial Realty Inc. | Reduce -92.9% | 1.40% | −7.14 |
| FRT Federal Realty Invs Trust | Reduce -81.6% | 6.00% | −3.89 |
| VMRK Vivmark Residential | Reduce -84.4% | 2.88% | −2.58 |
| INVH Invitation Homes Inc. | Reduce -91.5% | 2.33% | −2.55 |
| BXP BXP Inc. | Reduce -50.4% | 2.75% | −2.35 |
| WMT Walmart Inc. | Sold out | 0.00% | −2.34 |
| SHW The Sherwin-Williams Co. | Reduce -63.6% | 1.79% | −2.18 |
| NNN NNN REIT Inc. | Reduce -25.4% | 5.71% | −1.74 |
| AMH American Homes 4 Rent- A | Reduce -36.4% | 5.28% | −1.54 |
| REG Regency Centers Corp. | Reduce -73.8% | 5.87% | +1.27 |
| AZEK The Azek Co. Inc. | Reduce -68.0% | 4.40% | +2.13 |
| KIM Kimco Realty Corp. | Reduce -28.1% | 10.98% | +7.94 |
Portfolio Buys Q4 2024 → Q1 2025
| PLD Prologis Inc. | Add +319.2% | 9.26% | +6.79 |
| ESS Essex Property Trust Inc. | Add +1026.7% | 8.09% | +5.71 |
| ROST Ross Stores Inc. | Add +61.3% | 7.94% | +3.10 |
| TREX Trex Company Inc. | Add +95.8% | 5.67% | +2.82 |
| APLE Apple Hospitality REIT Inc. | Add +73.5% | 6.15% | +2.65 |
| DKS Dick's Sporting Goods Inc. | Add +213.7% | 4.90% | +2.56 |
| RLJ RLJ Lodging Trust | Add +56.3% | 2.54% | +0.79 |
| PFGC Performance Food Group Co. | Add +204.3% | 3.77% | −0.33 |
| LPX Louisiana-Pacific Corp. | Add +163.4% | 0.96% | −1.24 |
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 |