Masterton Capital Management, LP
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Masterton Capital Management, LP reported 22 stock positions worth $143.5 million. Its top holding was Vivmark Residential (VMRK) at 14.8% of the portfolio, followed by Federal Realty Invs Trust (FRT, 12.2%) and Public Storage (PSA, 9.4%). Compared with Q3 2025, it opened 4 new positions, sold out of 3, added to 4 and reduced 11. The biggest buy was Vivmark Residential (VMRK, shares +10%) and the biggest sale Trex (TREX, shares −69%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001817145
- Portfolio Value
- $143.5M (Q4 2025)
- SEC Filing
- 0001892688-26-000046 ↗ filed Feb 17, 2026
Holdings Value
Holdings 22 stocks · $143.5M
| VMRK Vivmark Residential filed as EQUITY RESIDENTIAL | 14.77% | 336,187 | $21.2M | Add +9.6% |
| FRT Federal Realty Invs Trust | 12.19% | 173,546 | $17.5M | Reduce -29.4% |
| PSA Public Storage | 9.40% | 51,982 | $13.5M | Reduce -5.2% |
| AMH American Homes 4 Rent- A | 7.85% | 350,715 | $11.3M | Reduce -4.8% |
| INVH Invitation Homes Inc. | 7.33% | 378,265 | $10.5M | Reduce -13.2% |
| PFGC Performance Food Group Co. | 5.74% | 91,587 | $8.2M | No change |
| CHEF The Chefs' Warehouse Inc. | 5.27% | 121,200 | $7.6M | Add +73.4% |
| KIM Kimco Realty Corp. | 4.85% | 343,513 | $7.0M | Add +20.4% |
| APLE Apple Hospitality REIT Inc. | 4.39% | 531,000 | $6.3M | Add +23.1% |
| BURL Burlington Stores Inc. | 4.12% | 20,462 | $5.9M | Reduce -56.7% |
| SKT Tanger Inc. | 3.74% | 160,600 | $5.4M | No change |
| TRNO Terreno Realty Corp. | 3.62% | 88,380 | $5.2M | Reduce -29.8% |
| BXP BXP Inc. | 3.41% | 72,500 | $4.9M | No change |
| EXR Extra Space Storage Inc. | 3.07% | 33,850 | $4.4M | Reduce -38.6% |
| PLD Prologis Inc. | 2.22% | 25,000 | $3.2M | Reduce -63.3% |
| MCD McDonald's Corp. | 1.93% | 9,060 | $2.8M | Reduce -62.7% |
| UDR Udr Inc. | 1.75% | 68,400 | $2.5M | New |
| TXRH Texas Roadhouse Inc. | 1.63% | 14,100 | $2.3M | New |
| TREX Trex Company Inc. | 1.17% | 47,811 | $1.7M | Reduce -69.2% |
| ROST Ross Stores Inc. | 0.71% | 5,632 | $1.0M | Reduce -79.7% |
| CHH Choice Hotels Intl Inc. | 0.43% | 6,500 | $619K | New |
| WH Wyndham Hotels & Resorts Inc. | 0.41% | 7,700 | $582K | New |
Portfolio Sells Q3 2025 → Q4 2025
| TREX Trex Company Inc. | Reduce -69.2% | 1.17% | −3.23 |
| BURL Burlington Stores Inc. | Reduce -56.7% | 4.12% | −2.48 |
| MCD McDonald's Corp. | Reduce -62.7% | 1.93% | −2.12 |
| PLD Prologis Inc. | Reduce -63.3% | 2.22% | −2.05 |
| ROST Ross Stores Inc. | Reduce -79.7% | 0.71% | −1.61 |
| FRT Federal Realty Invs Trust | Reduce -29.4% | 12.19% | −1.45 |
| VICI Vici Properties Inc. | Sold out | 0.00% | −1.44 |
| AVB Avalonbay Communities Inc. | Sold out | 0.00% | −1.33 |
| EXR Extra Space Storage Inc. | Reduce -38.6% | 3.07% | −1.18 |
| DHI D.R. Horton Inc. | Sold out | 0.00% | −0.83 |
| TRNO Terreno Realty Corp. | Reduce -29.8% | 3.62% | −0.30 |
| INVH Invitation Homes Inc. | Reduce -13.2% | 7.33% | +0.32 |
| PSA Public Storage | Reduce -5.2% | 9.40% | +0.72 |
| AMH American Homes 4 Rent- A | Reduce -4.8% | 7.85% | +1.13 |
Portfolio Buys Q3 2025 → Q4 2025
| VMRK Vivmark Residential | Add +9.6% | 14.77% | +3.89 |
| CHEF The Chefs' Warehouse Inc. | Add +73.4% | 5.27% | +3.03 |
| UDR Udr Inc. | New | 1.75% | +1.75 |
| TXRH Texas Roadhouse Inc. | New | 1.63% | +1.63 |
| APLE Apple Hospitality REIT Inc. | Add +23.1% | 4.39% | +1.55 |
| KIM Kimco Realty Corp. | Add +20.4% | 4.85% | +1.44 |
| CHH Choice Hotels Intl Inc. | New | 0.43% | +0.43 |
| WH Wyndham Hotels & Resorts Inc. | New | 0.41% | +0.41 |
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 |