Long Pond Capital, LP 13F: Quarter-over-Quarter Portfolio Changes
Long Pond Capital, LP reported a disclosed portfolio value of approximately $953.9 million in its latest SEC Form 13F-HR filing for Q2 2026, down 2.5% quarter on quarter. Over the quarter, the fund initiated 10 new positions, bought more shares in 6 holdings, trimmed 10 holdings, and exited 12 positions.
Long Pond Capital, LP's top buy was a new stake in Sba Communications CORP (SBAC) , equal to 16.6% of the disclosed portfolio. Its top sell was Wyndham Hotels & Resorts INC (WH) . The fund sold 95.7% of its previously reported shares, reducing the position's portfolio weight by 5.6 percentage points.
New PositionsQ2 2026
Securities disclosed for the first time in Q2 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| SBA COMMUNICATIONS CORP | SBAC | 16.6% | History → |
| CHURCHILL DOWNS INC | CHDN | 3.7% | Holders → |
| FERGUSON ENTERPRISES INC | FERG | 2.6% | Holders → |
| BUILDERS FIRSTSOURCE INC | BLDR | 2.3% | Holders → |
| EQUITY LIFESTYLE PROPERTIES | ELS | 2.1% | Holders → |
| HOME DEPOT INC | HD | 1.1% | Holders → |
| LOWES COS INC | LOW | 1.0% | Holders → |
| LOUISIANA PAC CORP | LPX | 0.8% | Holders → |
| ALEXANDRIA REAL ESTATE EQ IN | ARE | 0.5% | Holders → |
| FORTUNE BRANDS INNOVATIONS I | FBIN | 0.2% | Holders → |
Top BuysQ2 2026
The fund's top buys among existing positions in Q2 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| COMPASS INC | COMP | +3.7% | +195.4% | History → |
| HILTON GRAND VACATIONS INC | HGV | +4.6% | +144.4% | History → |
| SIX FLAGS ENTERTAINMENT CORP | FUN | +0.8% | +30.5% | Holders → |
| POOL CORP | POOL | +0.7% | +20.9% | Holders → |
| M/I HOMES INC | MHO | +0.3% | +16.0% | Holders → |
| KKR REAL ESTATE FIN TR INC | KREF | +0.6% | +1.4% | History → |
Top SellsQ2 2026
The fund's top sells among positions it retained in Q2 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| WYNDHAM HOTELS & RESORTS INC | WH | -5.6% | 95.7% | Holders → |
| HEALTHPEAK PROPERTIES INC | DOC | -3.6% | 89.7% | Holders → |
| CAMDEN PPTY TR | CPT | -1.8% | 54.5% | Holders → |
| UNITED PARKS & RESORTS INC | PRKS | -1.7% | 53.8% | History → |
| WYNN RESORTS LTD | WYNN | -2.4% | 42.0% | Holders → |
| AMERICOLD REALTY TRUST INC | COLD | -0.8% | 40.3% | History → |
| SMARTSTOP SELF STORAG REIT I | SMA | -0.4% | 27.5% | Holders → |
| JANUS LIVING INC | JAN | -0.2% | 21.9% | History → |
| INDEPENDENCE RLTY TR INC | IRT | 0.3% | 10.5% | History → |
| JBG SMITH PPTYS | JBGS | -0.4% | 8.8% | History → |
Full ExitsQ2 2026
Positions present in the prior 13F-HR filing that no longer appear in Q2 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| SUMMIT HOTEL PROPERTIES INC | INN | 4.2% |
| NORWEGIAN CRUISE LINE HLDGS | NCLH | 3.3% |
| HYATT HOTELS CORP | H | 3.3% |
| AMERICAN HOMES 4 RENT | AMH | 3.2% |
| KILROY RLTY CORP | KRC | 3.0% |
| JAMES HARDIE INDS PLC | JHX | 2.2% |
| CUBESMART | CUBE | 1.6% |
| LINEAGE INC | LINE | 1.4% |
| CENTERSPACE | CSR | 1.1% |
| TAYLOR MORRISON HOME CORP | TMHC | 1.0% |
| SAFEHOLD INC | SAFE | 0.8% |
| SL GREEN RLTY CORP | SLG | 0.5% |
Net Portfolio Value ChangeQ2 2026
- $1.0BPrior quarter
- $1.0BCurrent quarter
- $-0.0BNet delta
- -2.5%% change
Methodology & FAQ
How Long Pond Capital, LP Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for Long Pond Capital, LP: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description, including how confidential treatment filings are handled, is documented in the Methodology.
What stocks did Long Pond Capital, LP buy in Q2 2026?
In Q2 2026, Long Pond Capital, LP initiated 10 new positions (SBA COMMUNICATIONS CORP (SBAC), CHURCHILL DOWNS INC (CHDN), FERGUSON ENTERPRISES INC (FERG), BUILDERS FIRSTSOURCE INC (BLDR), EQUITY LIFESTYLE PROPERTIES (ELS), HOME DEPOT INC (HD), LOWES COS INC (LOW), LOUISIANA PAC CORP (LPX), ALEXANDRIA REAL ESTATE EQ IN (ARE), FORTUNE BRANDS INNOVATIONS I (FBIN)); bought more shares of COMPASS INC (COMP), HILTON GRAND VACATIONS INC (HGV), SIX FLAGS ENTERTAINMENT CORP (FUN), POOL CORP (POOL), M/I HOMES INC (MHO) (the largest 5 of 6 adds).
What stocks did Long Pond Capital, LP sell in Q2 2026?
In Q2 2026, Long Pond Capital, LP fully sold 12 positions (SUMMIT HOTEL PROPERTIES INC (INN), NORWEGIAN CRUISE LINE HLDGS (NCLH), HYATT HOTELS CORP (H), AMERICAN HOMES 4 RENT (AMH), KILROY RLTY CORP (KRC), JAMES HARDIE INDS PLC (JHX), CUBESMART (CUBE), LINEAGE INC (LINE), CENTERSPACE (CSR), TAYLOR MORRISON HOME CORP (TMHC), SAFEHOLD INC (SAFE), SL GREEN RLTY CORP (SLG)); reduced holdings in WYNDHAM HOTELS & RESORTS INC (WH), HEALTHPEAK PROPERTIES INC (DOC), CAMDEN PPTY TR (CPT), UNITED PARKS & RESORTS INC (PRKS), WYNN RESORTS LTD (WYNN) (the largest 5 of 10 reductions).
Which positions did Long Pond Capital, LP initiate in Q2 2026?
Long Pond Capital, LP established 10 new positions in Q2 2026: SBA COMMUNICATIONS CORP (SBAC, 16.6%), CHURCHILL DOWNS INC (CHDN, 3.7%), FERGUSON ENTERPRISES INC (FERG, 2.6%), BUILDERS FIRSTSOURCE INC (BLDR, 2.3%), EQUITY LIFESTYLE PROPERTIES (ELS, 2.1%), HOME DEPOT INC (HD, 1.1%), LOWES COS INC (LOW, 1.0%), LOUISIANA PAC CORP (LPX, 0.8%), ALEXANDRIA REAL ESTATE EQ IN (ARE, 0.5%), FORTUNE BRANDS INNOVATIONS I (FBIN, 0.2%).
Which existing positions saw the largest allocation increases for Long Pond Capital, LP in Q2 2026?
Of 6 existing positions with share-count increases in Q2 2026, the largest were: COMPASS INC (COMP, +3.7% weight, +195.4% shares), HILTON GRAND VACATIONS INC (HGV, +4.6% weight, +144.4% shares), SIX FLAGS ENTERTAINMENT CORP (FUN, +0.8% weight, +30.5% shares), POOL CORP (POOL, +0.7% weight, +20.9% shares), M/I HOMES INC (MHO, +0.3% weight, +16.0% shares), KKR REAL ESTATE FIN TR INC (KREF, +0.6% weight, +1.4% shares).
Which positions did Long Pond Capital, LP fully exit in Q2 2026?
Long Pond Capital, LP fully exited 12 positions in Q2 2026: SUMMIT HOTEL PROPERTIES INC (INN, last-reported weight 4.2%), NORWEGIAN CRUISE LINE HLDGS (NCLH, last-reported weight 3.3%), HYATT HOTELS CORP (H, last-reported weight 3.3%), AMERICAN HOMES 4 RENT (AMH, last-reported weight 3.2%), KILROY RLTY CORP (KRC, last-reported weight 3.0%), JAMES HARDIE INDS PLC (JHX, last-reported weight 2.2%), CUBESMART (CUBE, last-reported weight 1.6%), LINEAGE INC (LINE, last-reported weight 1.4%), CENTERSPACE (CSR, last-reported weight 1.1%), TAYLOR MORRISON HOME CORP (TMHC, last-reported weight 1.0%), SAFEHOLD INC (SAFE, last-reported weight 0.8%), SL GREEN RLTY CORP (SLG, last-reported weight 0.5%).
Which existing positions saw the largest allocation reductions for Long Pond Capital, LP in Q2 2026?
Of 10 existing positions with share-count reductions in Q2 2026, the largest were: WYNDHAM HOTELS & RESORTS INC (WH, -5.6% weight, -95.7% shares), HEALTHPEAK PROPERTIES INC (DOC, -3.6% weight, -89.7% shares), CAMDEN PPTY TR (CPT, -1.8% weight, -54.5% shares), UNITED PARKS & RESORTS INC (PRKS, -1.7% weight, -53.8% shares), WYNN RESORTS LTD (WYNN, -2.4% weight, -42.0% shares), AMERICOLD REALTY TRUST INC (COLD, -0.8% weight, -40.3% shares), SMARTSTOP SELF STORAG REIT I (SMA, -0.4% weight, -27.5% shares), JANUS LIVING INC (JAN, -0.2% weight, -21.9% shares), INDEPENDENCE RLTY TR INC (IRT, 0.3% weight, -10.5% shares), JBG SMITH PPTYS (JBGS, -0.4% weight, -8.8% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.