Rush Island Management, LP
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Rush Island Management, LP reported 14 stock positions worth $1.6 billion. Its top holding was Healthcare Realty Trust (HR) at 13.5% of the portfolio, followed by Ventas (VTR, 12.0%) and Realty Income (O, 10.3%). Compared with Q4 2024, it opened 2 new positions, sold out of 2, added to 6 and reduced 6. The biggest buy was a new position in SBA Communications (SBAC) and the biggest sale an exit from First Industrial Realty TR (FR).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001736465
- Portfolio Value
- $1.6B (Q1 2025)
- SEC Filing
- 0001214659-25-007835 ↗ filed May 15, 2025
Holdings Value
Holdings 14 stocks · $1.6B
| HR Healthcare Realty Trust Inc. | 13.49% | 12,531,661 | $211.8M | Reduce -20.1% |
| VTR Ventas Inc. | 11.98% | 2,735,085 | $188.1M | Reduce -11.7% |
| O Realty Income Corp. | 10.32% | 2,793,536 | $162.1M | Reduce -12.9% |
| KRC Kilroy Realty Corp. | 9.26% | 4,438,739 | $145.4M | Add +64.0% |
| NNN NNN REIT Inc. | 8.98% | 3,306,538 | $141.0M | Add +10.1% |
| FRT Federal Realty Invs Trust | 8.83% | 1,417,620 | $138.7M | Add +19.3% |
| REXR Rexford Industrial Realty Inc. | 7.71% | 3,092,217 | $121.1M | Reduce -9.9% |
| SBAC SBA Communications Corp. | 7.68% | 547,983 | $120.6M | New |
| HST Host Hotels & Resorts Inc. | 6.83% | 7,544,486 | $107.2M | Add +33.0% |
| CUZ Cousins Properties Inc. | 5.15% | 2,741,978 | $80.9M | Reduce -9.0% |
| AIV Apartment Invt & Mgmt Co. Class A | 2.68% | 4,779,357 | $42.1M | Add +5.2% |
| H Hyatt Hotels Corp. Class A | 2.61% | 334,016 | $40.9M | New |
| BKD Brookdale Senior Living Inc. | 2.58% | 6,462,066 | $40.5M | Reduce -22.2% |
| SITC Site Centers Corp. filed as SITE CTRS CORP | 1.92% | 2,351,452 | $30.2M | Add +48.6% |
Portfolio Sells Q4 2024 → Q1 2025
| FR First Industrial Realty TR | Sold out | 0.00% | −5.47 |
| HR Healthcare Realty Trust Inc. | Reduce -20.1% | 13.49% | −4.19 |
| REXR Rexford Industrial Realty Inc. | Reduce -9.9% | 7.71% | −1.11 |
| O Realty Income Corp. | Reduce -12.9% | 10.32% | −1.07 |
| CUZ Cousins Properties Inc. | Reduce -9.0% | 5.15% | −0.98 |
| NTST Netstreit Corp. | Sold out | 0.00% | −0.35 |
| BKD Brookdale Senior Living Inc. | Reduce -22.2% | 2.58% | −0.20 |
| VTR Ventas Inc. | Reduce -11.7% | 11.98% | −0.15 |
Portfolio Buys Q4 2024 → Q1 2025
| SBAC SBA Communications Corp. | New | 7.68% | +7.68 |
| H Hyatt Hotels Corp. Class A | New | 2.61% | +2.61 |
| KRC Kilroy Realty Corp. | Add +64.0% | 9.26% | +1.98 |
| NNN NNN REIT Inc. | Add +10.1% | 8.98% | +0.82 |
| SITC Site Centers Corp. | Add +48.6% | 1.92% | +0.31 |
| HST Host Hotels & Resorts Inc. | Add +33.0% | 6.83% | +0.22 |
| FRT Federal Realty Invs Trust | Add +19.3% | 8.83% | −0.02 |
| AIV Apartment Invt & Mgmt Co. Class A | Add +5.2% | 2.68% | −0.07 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 22 | $1.5B | INVH, ESS, NNN, KRC, HR |
| Q1 2026 | 22 | $1.5B | ESS, SBAC, KRC, NNN, HR |
| Q4 2025 | 17 | $1.6B | SBAC, ESS, HR, NNN, UDR |
| Q3 2025 | 17 | $1.5B | SBAC, ESS, HR, FRT, NNN |
| Q2 2025 | 17 | $1.5B | HR, VTR, FRT, NNN, KRC |
| Q1 2025 | 14 | $1.6B | HR, VTR, O, KRC, NNN |
| Q4 2024 | 14 | $1.5B | HR, VTR, O, FRT, REXR |
| Q3 2024 | 18 | $1.3B | HR, O, NNN, FRT, SHO |
| Q2 2024 | 13 | $1.2B | HR, O, FRT, NNN, SHO |
| Q1 2024 | 15 | $1.1B | HR, O, FRT, NNN, SHO |