Long Pond Capital, LP — Quarter-over-Quarter 13F Allocation Shifts Q1 2026
In Q1 2026, Long Pond Capital, LP initiated 11 new positions, increased allocation to 10 existing positions, trimmed 9 positions, and exited 9 positions entirely. The fund's 13F equity book grew from $0.85B to $0.98B (+14.9% QoQ) . All deltas are sourced from sequential SEC Form 13F-HR filings; share-count changes reflect explicit trading activity, while weight changes can also include price movement. This page lists every position change reported — the portfolio overview shows a summary of the top shifts.
Net Portfolio Value Change
- $0.85BPrior quarter
- $0.98BCurrent quarter
- + $0.13BNet delta
- +14.9%% change
New Position Initiations Q1 2026
Securities disclosed for the first time in Q1 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Allocation Weight | History |
|---|---|---|---|
| JANUS LIVING, INC. | JAN | 7.93% | History → |
| WYNN RESORTS LTD | WYNN | 5.49% | History → |
| HEALTHPEAK PROPERTIES INC | DOC | 4.18% | History → |
| NORWEGIAN CRUISE LINE HLDGS | NCLH | 3.31% | Holders → |
| AMERICAN HOMES 4 RENT | AMH | 3.17% | Holders → |
| KILROY REALTY CORP | KRC | 3.00% | Holders → |
| POOL CORP | POOL | 2.27% | Holders → |
| JAMES HARDIE INDS PLC | JHX | 2.24% | Holders → |
| SMARTSTOP SELF STORAG REIT I | SMA | 1.90% | Holders → |
| SIX FLAGS ENTERTAINMENT CORP | FUN | 1.36% | Holders → |
| TAYLOR MORRISON HOME CORP (TMHC) | TMHC | 1.04% | Holders → |
Largest Allocation Increases Q1 2026
Largest portfolio-weight increases in existing positions. Share-count delta is shown separately so price-only re-weighting can be distinguished from active adds.
| Company | Ticker | Δ Weight | Δ Shares | History |
|---|---|---|---|---|
| CAMDEN PPTY TR | CPT | +3.31% | +647.28% | Holders → |
| INDEPENDENCE RLTY TR INC | IRT | +6.66% | +472.39% | History → |
| KKR REAL ESTATE FIN TR INC | KREF | +2.08% | +266.81% | Holders → |
| LINEAGE INC | LINE | +0.62% | +123.16% | Holders → |
| WYNDHAM HOTELS & RESORTS INC | WH | +2.83% | +107.72% | History → |
| UNITED PARKS & RESORTS INC | PRKS | +1.97% | +96.58% | History → |
| CUBESMART | CUBE | +0.16% | +25.51% | Holders → |
| HYATT HOTELS CORP | H | +-0.54% | +10.07% | Holders → |
| JBG SMITH PPTYS | JBGS | +-1.69% | +6.43% | History → |
| MID-AMERICA APARTMENT COMMUNITIES, INC. | MAA | +-0.14% | +1.96% | Holders → |
Largest Allocation Reductions Q1 2026
Largest portfolio-weight decreases in existing positions (positions kept open at a lower allocation).
| Company | Ticker | Δ Weight | Δ Shares | History |
|---|---|---|---|---|
| COMPASS INC. | COMP | -5.30% | -75.67% | Holders → |
| CENTERSPACE | CSR | -2.37% | -57.22% | Holders → |
| NEXPOINT RESIDENTIAL TR INC | NXRT | -1.82% | -46.30% | Holders → |
| SAFEHOLD INC | SAFE | -0.75% | -41.40% | Holders → |
| HILTON GRAND VACATIONS INC | HGV | -1.91% | -33.69% | Holders → |
| M/I HOMES INC | MHO | -0.47% | -33.06% | Holders → |
| AMERICOLD REALTY TRUST INC | COLD | -3.53% | -22.78% | History → |
| SL GREEN RLTY CORP | SLG | -0.26% | -6.32% | Holders → |
| TPG RE FIN TR INC | TRTX | -1.50% | -0.05% | History → |
Exited Positions Q1 2026
Positions present in the prior 13F-HR filing that no longer appear in Q1 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| NATIONAL STORAGE AFFILIATES | NSA | 8.59% |
| PROLOGIS INC. | PLD | 5.25% |
| GAMING & LEISURE P | GLPI | 5.22% |
| CAESARS ENTERTAINMENT INC NE | CZR | 4.07% |
| AVALONBAY CMNTYS INC | AVB | 2.98% |
| ALEXANDRIA REAL ESTATE EQ IN | ARE | 2.76% |
| TREX INC | TREX | 2.00% |
| SUNSTONE HOTEL INVESTORS, INC. | SHO | 0.51% |
| VERIS RESIDENTIAL INC | VRE | 0.26% |
Methodology & FAQ
How Long Pond Capital, LP Quarterly Changes Are Computed
Each row above is computed by joining the most recent 13F-HR filing for Long Pond Capital, LP against the immediately preceding quarterly filing for the same fund. Portfolio weights are normalized to exclude listed options for comparability. A complete description of the methodology — including how confidential treatment filings are handled and why share count rather than weight is the cleaner trading signal — is documented in the Methodology.
Which positions did Long Pond Capital, LP initiate in Q1 2026?
Long Pond Capital, LP established 11 new positions in Q1 2026: JANUS LIVING, INC. (JAN, 7.93%), WYNN RESORTS LTD (WYNN, 5.49%), HEALTHPEAK PROPERTIES INC (DOC, 4.18%), NORWEGIAN CRUISE LINE HLDGS (NCLH, 3.31%), AMERICAN HOMES 4 RENT (AMH, 3.17%), KILROY REALTY CORP (KRC, 3.00%), POOL CORP (POOL, 2.27%), JAMES HARDIE INDS PLC (JHX, 2.24%), SMARTSTOP SELF STORAG REIT I (SMA, 1.90%), SIX FLAGS ENTERTAINMENT CORP (FUN, 1.36%), TAYLOR MORRISON HOME CORP (TMHC) (TMHC, 1.04%).
Which existing positions saw the largest allocation increases for Long Pond Capital, LP in Q1 2026?
The largest portfolio-weight increases in existing positions were: CAMDEN PPTY TR (CPT, +3.31% weight, +647.28% shares), INDEPENDENCE RLTY TR INC (IRT, +6.66% weight, +472.39% shares), KKR REAL ESTATE FIN TR INC (KREF, +2.08% weight, +266.81% shares), LINEAGE INC (LINE, +0.62% weight, +123.16% shares), WYNDHAM HOTELS & RESORTS INC (WH, +2.83% weight, +107.72% shares), UNITED PARKS & RESORTS INC (PRKS, +1.97% weight, +96.58% shares), CUBESMART (CUBE, +0.16% weight, +25.51% shares), HYATT HOTELS CORP (H, +-0.54% weight, +10.07% shares), JBG SMITH PPTYS (JBGS, +-1.69% weight, +6.43% shares), MID-AMERICA APARTMENT COMMUNITIES, INC. (MAA, +-0.14% weight, +1.96% shares).
Which positions did Long Pond Capital, LP fully exit in Q1 2026?
Long Pond Capital, LP fully exited 9 positions in Q1 2026: NATIONAL STORAGE AFFILIATES (NSA, last-reported weight 8.59%), PROLOGIS INC. (PLD, last-reported weight 5.25%), GAMING & LEISURE P (GLPI, last-reported weight 5.22%), CAESARS ENTERTAINMENT INC NE (CZR, last-reported weight 4.07%), AVALONBAY CMNTYS INC (AVB, last-reported weight 2.98%), ALEXANDRIA REAL ESTATE EQ IN (ARE, last-reported weight 2.76%), TREX INC (TREX, last-reported weight 2.00%), SUNSTONE HOTEL INVESTORS, INC. (SHO, last-reported weight 0.51%), VERIS RESIDENTIAL INC (VRE, last-reported weight 0.26%).
Which existing positions saw the largest allocation reductions for Long Pond Capital, LP in Q1 2026?
The largest portfolio-weight reductions in positions kept open were: COMPASS INC. (COMP, -5.30% weight, -75.67% shares), CENTERSPACE (CSR, -2.37% weight, -57.22% shares), NEXPOINT RESIDENTIAL TR INC (NXRT, -1.82% weight, -46.30% shares), SAFEHOLD INC (SAFE, -0.75% weight, -41.40% shares), HILTON GRAND VACATIONS INC (HGV, -1.91% weight, -33.69% shares), M/I HOMES INC (MHO, -0.47% weight, -33.06% shares), AMERICOLD REALTY TRUST INC (COLD, -3.53% weight, -22.78% shares), SL GREEN RLTY CORP (SLG, -0.26% weight, -6.32% shares), TPG RE FIN TR INC (TRTX, -1.50% weight, -0.05% 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.