Long Pond Capital, LP 13F: Quarter-over-Quarter Portfolio Changes
Long Pond Capital, LP reported a disclosed portfolio value of approximately $978.1 million in its latest SEC Form 13F-HR filing for Q1 2026, up 14.9% quarter on quarter. Over the quarter, the fund initiated 11 new positions, bought more shares in 10 holdings, trimmed 9 holdings, and exited 9 positions.
Long Pond Capital, LP's top buy was a new stake in Janus Living INC (JAN) , equal to 7.9% of the disclosed portfolio. Its top sell was National Storage Affiliates (NSA) . The fund exited the position completely after it had accounted for 8.6% of the previous portfolio.
New PositionsQ1 2026
Securities disclosed for the first time in Q1 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| JANUS LIVING INC | JAN | 7.9% | History → |
| WYNN RESORTS LTD | WYNN | 5.5% | History → |
| HEALTHPEAK PROPERTIES INC | DOC | 4.2% | History → |
| NORWEGIAN CRUISE LINE HLDGS | NCLH | 3.3% | Holders → |
| AMERICAN HOMES 4 RENT | AMH | 3.2% | Holders → |
| KILROY REALTY CORP | KRC | 3.0% | Holders → |
| POOL CORP | POOL | 2.3% | Holders → |
| JAMES HARDIE INDS PLC | JHX | 2.2% | Holders → |
| SMARTSTOP SELF STORAG REIT I | SMA | 1.9% | Holders → |
| SIX FLAGS ENTERTAINMENT CORP | FUN | 1.4% | Holders → |
| TAYLOR MORRISON HOME CORP (TMHC) | TMHC | 1.0% | Holders → |
Top BuysQ1 2026
The fund's top buys among existing positions in Q1 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| CAMDEN PPTY TR | CPT | +3.3% | +647.3% | Holders → |
| INDEPENDENCE RLTY TR INC | IRT | +6.7% | +472.4% | History → |
| KKR REAL ESTATE FIN TR INC | KREF | +2.1% | +266.8% | Holders → |
| LINEAGE INC | LINE | +0.6% | +123.2% | Holders → |
| WYNDHAM HOTELS & RESORTS INC | WH | +2.8% | +107.7% | History → |
| UNITED PARKS & RESORTS INC | PRKS | +2.0% | +96.6% | History → |
| CUBESMART | CUBE | +0.2% | +25.5% | Holders → |
| HYATT HOTELS CORP | H | +-0.5% | +10.1% | Holders → |
| JBG SMITH PPTYS | JBGS | +-1.7% | +6.4% | History → |
| MID-AMER APT CMNTYS INC | MAA | +-0.1% | +2.0% | Holders → |
Top SellsQ1 2026
The fund's top sells among positions it retained in Q1 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| COMPASS INC | COMP | -5.3% | 75.7% | Holders → |
| CENTERSPACE | CSR | -2.4% | 57.2% | Holders → |
| NEXPOINT RESIDENTIAL TR INC | NXRT | -1.8% | 46.3% | Holders → |
| SAFEHOLD INC | SAFE | -0.8% | 41.4% | Holders → |
| HILTON GRAND VACATIONS INC | HGV | -1.9% | 33.7% | Holders → |
| M/I HOMES INC | MHO | -0.5% | 33.1% | Holders → |
| AMERICOLD REALTY TRUST INC | COLD | -3.5% | 22.8% | History → |
| SL GREEN RLTY CORP | SLG | -0.3% | 6.3% | Holders → |
| TPG RE FIN TR INC | TRTX | -1.5% | 0.1% | History → |
Full ExitsQ1 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 | 8.6% |
| PROLOGIS | PLD | 5.2% |
| GAMING & LEISURE P | GLPI | 5.2% |
| CAESARS ENTERTAINMENT INC NE | CZR | 4.1% |
| AVALONBAY CMNTYS INC | AVB | 3.0% |
| ALEXANDRIA REAL ESTATE EQ IN | ARE | 2.8% |
| TREX INC | TREX | 2.0% |
| SUNSTONE HOTEL INVESTORS, INC. | SHO | 0.5% |
| VERIS RESIDENTIAL INC | VRE | 0.3% |
Net Portfolio Value ChangeQ1 2026
- $0.9BPrior quarter
- $1.0BCurrent quarter
- +$0.1BNet delta
- +14.9%% 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 Q1 2026?
In Q1 2026, Long Pond Capital, LP initiated 11 new positions (JANUS LIVING INC (JAN), WYNN RESORTS LTD (WYNN), HEALTHPEAK PROPERTIES INC (DOC), NORWEGIAN CRUISE LINE HLDGS (NCLH), AMERICAN HOMES 4 RENT (AMH), KILROY REALTY CORP (KRC), POOL CORP (POOL), JAMES HARDIE INDS PLC (JHX), SMARTSTOP SELF STORAG REIT I (SMA), SIX FLAGS ENTERTAINMENT CORP (FUN), TAYLOR MORRISON HOME CORP (TMHC) (TMHC)); bought more shares of CAMDEN PPTY TR (CPT), INDEPENDENCE RLTY TR INC (IRT), KKR REAL ESTATE FIN TR INC (KREF), LINEAGE INC (LINE), WYNDHAM HOTELS & RESORTS INC (WH) — the largest 5 of 10 adds.
What stocks did Long Pond Capital, LP sell in Q1 2026?
In Q1 2026, Long Pond Capital, LP fully sold 9 positions (NATIONAL STORAGE AFFILIATES (NSA), PROLOGIS (PLD), GAMING & LEISURE P (GLPI), CAESARS ENTERTAINMENT INC NE (CZR), AVALONBAY CMNTYS INC (AVB), ALEXANDRIA REAL ESTATE EQ IN (ARE), TREX INC (TREX), SUNSTONE HOTEL INVESTORS, INC. (SHO), VERIS RESIDENTIAL INC (VRE)); reduced holdings in COMPASS INC (COMP), CENTERSPACE (CSR), NEXPOINT RESIDENTIAL TR INC (NXRT), SAFEHOLD INC (SAFE), HILTON GRAND VACATIONS INC (HGV) — the largest 5 of 9 reductions.
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, 7.9%), WYNN RESORTS LTD (WYNN, 5.5%), HEALTHPEAK PROPERTIES INC (DOC, 4.2%), NORWEGIAN CRUISE LINE HLDGS (NCLH, 3.3%), AMERICAN HOMES 4 RENT (AMH, 3.2%), KILROY REALTY CORP (KRC, 3.0%), POOL CORP (POOL, 2.3%), JAMES HARDIE INDS PLC (JHX, 2.2%), SMARTSTOP SELF STORAG REIT I (SMA, 1.9%), SIX FLAGS ENTERTAINMENT CORP (FUN, 1.4%), TAYLOR MORRISON HOME CORP (TMHC) (TMHC, 1.0%).
Which existing positions saw the largest allocation increases for Long Pond Capital, LP in Q1 2026?
Of 10 existing positions with share-count increases in Q1 2026, the largest were: CAMDEN PPTY TR (CPT, +3.3% weight, +647.3% shares), INDEPENDENCE RLTY TR INC (IRT, +6.7% weight, +472.4% shares), KKR REAL ESTATE FIN TR INC (KREF, +2.1% weight, +266.8% shares), LINEAGE INC (LINE, +0.6% weight, +123.2% shares), WYNDHAM HOTELS & RESORTS INC (WH, +2.8% weight, +107.7% shares), UNITED PARKS & RESORTS INC (PRKS, +2.0% weight, +96.6% shares), CUBESMART (CUBE, +0.2% weight, +25.5% shares), HYATT HOTELS CORP (H, +-0.5% weight, +10.1% shares), JBG SMITH PPTYS (JBGS, +-1.7% weight, +6.4% shares), MID-AMER APT CMNTYS INC (MAA, +-0.1% weight, +2.0% 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 8.6%), PROLOGIS (PLD, last-reported weight 5.2%), GAMING & LEISURE P (GLPI, last-reported weight 5.2%), CAESARS ENTERTAINMENT INC NE (CZR, last-reported weight 4.1%), AVALONBAY CMNTYS INC (AVB, last-reported weight 3.0%), ALEXANDRIA REAL ESTATE EQ IN (ARE, last-reported weight 2.8%), TREX INC (TREX, last-reported weight 2.0%), SUNSTONE HOTEL INVESTORS, INC. (SHO, last-reported weight 0.5%), VERIS RESIDENTIAL INC (VRE, last-reported weight 0.3%).
Which existing positions saw the largest allocation reductions for Long Pond Capital, LP in Q1 2026?
Of 9 existing positions with share-count reductions in Q1 2026, the largest were: COMPASS INC (COMP, -5.3% weight, -75.7% shares), CENTERSPACE (CSR, -2.4% weight, -57.2% shares), NEXPOINT RESIDENTIAL TR INC (NXRT, -1.8% weight, -46.3% shares), SAFEHOLD INC (SAFE, -0.8% weight, -41.4% shares), HILTON GRAND VACATIONS INC (HGV, -1.9% weight, -33.7% shares), M/I HOMES INC (MHO, -0.5% weight, -33.1% shares), AMERICOLD REALTY TRUST INC (COLD, -3.5% weight, -22.8% shares), SL GREEN RLTY CORP (SLG, -0.3% weight, -6.3% shares), TPG RE FIN TR INC (TRTX, -1.5% weight, -0.1% 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.