Long Pond Capital, LP
Long book
$978.1M
Q1 2026
Positions
32
Top-10 weight
59%
concentration
Last quarter
+22.4%
SPY +14.8%
Turnover
49%
of book per quarter
Strategy in plain words
auto-generated from filingsLong Pond Capital, LP is a concentrated fundamental stock-picker, specialised in real_estate (66% of the long book), running a $978.1M US long book across 32 positions.
The portfolio is concentrated: the top 10 names carry 59% of the portfolio. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: INDEPENDENCE REALTY TRUST IN, JANUS LIVING INC CL-A-1, JBG SMITH PROPERTIES, WYNDHAM HOTELS & RESORTS INC, TPG RE FINANCE TRUST INC.
Over the last 9 quarters its long book ran on average 0pp per quarter behind the S&P 500, beating the index in 5 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+0.9%
Q2 2024
+15.4%
Q3 2024
-9.2%
Q4 2024
+0.4%
Q1 2025
+4.9%
Q2 2025
+8.4%
Q3 2025
+1.1%
Q4 2025
-4.3%
Q1 2026
+22.4%
Sector allocation
Services media 68%
Industrials 21%
Consumer discretionary 7%
Real estate 3%
Technology 2%
Long book by quarter
What does Long Pond own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| WH WYNDHAM HOTELS & RESORTS INC | Services media | 701.7K | $57.0M | 5.8% | +107.7% |
| PRKS UNITED PARKS & RESORTS INC | Services media | 1.7M | $54.9M | 5.6% | +96.6% |
| WYNN WYNN RESORTS LTD | Services media | 529.1K | $53.7M | 5.5% | New |
| NCLH NORWEGIAN CRUISE LINE HOLDIN | Industrials | 1.7M | $32.4M | 3.3% | New |
| H HYATT HOTELS CORP - CL A | Services media | 224.0K | $32.2M | 3.3% | +10.1% |
| POOL POOL CORP | Consumer discretionary | 109.5K | $22.2M | 2.3% | New |
| JHX JAMES HARDIE IND PLC | Industrials | 1.2M | $21.9M | 2.2% | New |
| HGV HILTON GRAND VACATIONS INC | Services media | 485.4K | $19.0M | 1.9% | -33.7% |
| FUN SIX FLAGS ENTERTAINMENT CORP | Services media | 750.4K | $13.3M | 1.4% | New |
| TMHC TAYLOR MORRISON HOME CORP | Industrials | 174.4K | $10.2M | 1.0% | New |
| COMP COMPASS INC - CLASS A | Real estate | 1.2M | $8.9M | 0.9% | -75.7% |
| SMRT SMARTRENT INC | Technology | 5.6M | $8.4M | 0.9% | Held |
| MHO M/I HOMES INC | Industrials | 47.6K | $5.8M | 0.6% | -33.1% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 14, 2026 | 33 | $1.05B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 30 | $851.2M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 28 | $1.38B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 13, 2025 | 29 | $1.55B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 14, 2025 | 34 | $1.54B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 13, 2025 | 28 | $1.97B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 13, 2024 | 38 | $2.23B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 36 | $1.87B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 35 | $1.75B | canonical | SEC ↗ |
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