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Masterton Capital Management, LP

Q3 2025 · Filed 2025-11-14
Market Value
$182M
+10.3%
Holdings
30
+9
New Purchases
10
Added To
6
Closed
9
Reduced
5
Top 10 Concentration
71.7%
Turnover
63.3%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
PSA 8.68% 0.00% +8.68% $16M
FRT 13.64% 5.05% +8.59% $25M
BURL 6.60% 0.00% +6.60% $12M
EQR 10.89% 6.44% +4.45% $20M
EXR 4.26% 0.00% +4.26% $8M
MCD 4.05% 0.00% +4.05% $7M
TRNO 3.91% 0.00% +3.91% $7M
SKT 2.98% 0.00% +2.98% $5M
TREX 4.40% 1.59% +2.80% $8M
CHEF 2.24% 0.00% +2.24% $4M
PFGC 5.22% 3.03% +2.19% $10M
INVH 7.00% 4.90% +2.10% $13M
VICI 1.44% 0.00% +1.44% $3M
AVB 1.33% 0.00% +1.33% $2M
PLD 4.28% 2.97% +1.31% $8M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AZEK 0.00% 9.90% -9.90% $0
APLE 2.84% 11.14% -8.30% $5M
DKS 0.00% 7.12% -7.12% $0
ESS 0.00% 6.01% -6.01% $0
AMH 6.72% 12.52% -5.80% $12M
BXP 2.95% 7.20% -4.24% $5M
LPX 0.00% 4.16% -4.16% $0
NNN 0.00% 3.29% -3.29% $0
REG 0.00% 2.75% -2.75% $0
REXR 0.00% 2.52% -2.52% $0
RLJ 0.00% 1.73% -1.73% $0
SHW 0.00% 1.62% -1.62% $0
KIM 3.42% 4.40% -0.98% $6M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 1 $7M 4.0%
Large Cap 18 $140M 76.6%
Mid Cap 10 $35M 19.3%
Small Cap 1 $0 0.0%

Portfolio Analytics

Avg Market Cap
$30.0B
Median Market Cap
$15.5B
Avg P/E
31.8
Median P/E
28.7
Avg Dividend Yield
0.03%
Avg Beta
1.07
# Stocks
30
# ETFs / Funds
0

Top Holdings (30 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 FRT 13.64% 245,646 $25M $101.31 $17M -151,867 -38.2%
2 EQR 10.89% 306,824 $20M $64.73 $9M +185,037 +151.9%
3 PSA 8.68% 54,842 $16M $288.85 +54,842 NEW
4 INVH 7.00% 435,579 $13M $29.33 $5M +188,300 +76.2%
5 AMH 6.72% 368,415 $12M $33.25 -$8M +61,591 +20.1%
6 BURL 6.60% 47,282 $12M $254.50 +47,282 NEW
7 PFGC 5.22% 91,587 $10M $104.04 $5M -338,613 -78.7%
8 TREX 4.40% 155,211 $8M $51.67 $5M +74,394 +92.0%
9 PLD 4.28% 68,100 $8M $114.52 $3M -92,500 -57.6%
10 EXR 4.26% 55,100 $8M $140.94 +55,100 NEW
11 MCD 4.05% 24,300 $7M $303.89 +24,300 NEW
12 TRNO 3.91% 125,800 $7M $56.75 +125,800 NEW
13 KIM 3.42% 285,213 $6M $21.85 -$1M +228,750 +405.1%
14 SKT 2.98% 160,600 $5M $33.84 +160,600 NEW
15 BXP 2.95% 72,500 $5M $74.34 -$7M -146,517 -66.9%
16 APLE 2.84% 431,200 $5M $12.01 -$13M +237,154 +122.2%
17 ROST 2.32% 27,732 $4M $152.39 $1M -21,168 -43.3%
18 CHEF 2.24% 69,900 $4M $58.33 +69,900 NEW
19 VICI 1.44% 80,817 $3M $32.61 +80,817 NEW
20 AVB 1.33% 12,600 $2M $193.17 +12,600 NEW
21 DHI 0.83% 8,963 $2M $169.47 +8,963 NEW
22 REG —% -$5M -35,684 -100.0% SOLD
23 AZEK —% -$16M -57,800 -100.0% SOLD
24 REXR —% -$4M -33,700 -100.0% SOLD
25 SHW —% -$3M -74,415 -100.0% SOLD
26 NNN —% -$5M -80,600 -100.0% SOLD
27 RLJ —% -$3M -106,300 -100.0% SOLD
28 ESS —% -$10M -42,771 -100.0% SOLD
29 DKS —% -$12M -40,142 -100.0% SOLD
30 LPX —% -$7M -46,700 -100.0% SOLD

New Positions

SymbolValue% Port
PSA $16M 8.68%
BURL $12M 6.60%
EXR $8M 4.26%
MCD $7M 4.05%
TRNO $7M 3.91%
SKT $5M 2.98%
CHEF $4M 2.24%
VICI $3M 1.44%
AVB $2M 1.33%
DHI $2M 0.83%

Sold Out Positions

SymbolValue% Port
REXR —%
LPX —%
SHW —%
NNN —%
DKS —%
ESS —%
RLJ —%
REG —%
AZEK —%
View SEC EDGAR Filings for Masterton Capital Management, LP →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms