RUSH ISLAND MANAGEMENT LP's Q3 2022 13F: 5 new positions, 4 exits
Form 13F-HR for the quarter ended Sep 30, 2022 · filed Nov 14, 2022 · 12 reported positions · accession 0001214659-22-013697
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Exited | FIRST INDL RLTY TR INC (FR) | 13.4% | — | −13.4 pts | −1.15M sh | −100% |
| New | SPIRIT RLTY CAP INC NEW (SRC) | — | 11.3% | +11.3 pts | +1.42M sh | new |
| New | EPR PPTYS (EPR) | — | 8.9% | +8.9 pts | +1.13M sh | new |
| Increased | FEDERAL RLTY INVT TR NEW (FRT) | 10.3% | 16.6% | +6.2 pts | +395K sh | +90% |
| Exited | NATIONAL HEALTH INVS INC (NHI) | 6.7% | — | −6.7 pts | −450K sh | −100% |
| Exited | VERIS RESIDENTIAL INC (VRE) | 4.5% | — | −4.5 pts | −1.37M sh | −100% |
| New | KILROY RLTY CORP (KRC) | — | 4.5% | +4.5 pts | +480K sh | new |
| Increased | PARK HOTELS & RESORTS INC (PK) | 16.4% | 16.3% | −0.1 pts | +1.66M sh | +34% |
| New | INVENTRUST PPTYS CORP (IVT) | — | 1.8% | +1.8 pts | +388K sh | new |
| Exited | EXPEDIA GROUP INC (EXPE) | 1.7% | — | −1.7 pts | −71,520 sh | −100% |
| New | BROOKDALE SR LIVING INC (BKD) | — | 1.4% | +1.4 pts | +1.48M sh | new |
| Increased | APARTMENT INCOME REIT CORP (AIRC) | 18.9% | 16.8% | −2.0 pts | +132K sh | +7% |
| Reduced | SUNSTONE HOTEL INVS INC NEW (SHO) | 11.6% | 9.3% | −2.3 pts | −263K sh | −6% |
| Reduced | NATIONAL RETAIL PROPERTIES I (NNN) | 12.5% | 10.0% | −2.6 pts | −52,111 sh | −4% |
| Increased | VENTAS INC (VTR) | 4.0% | 3.1% | −0.9 pts | +33,424 sh | +10% |
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
Top 10 positions — 98.6% of the equity book
Changes in the top 10 this quarter: SRC entered · EPR entered · KRC entered · IVT entered · FR left · NHI left · VRE left · EXPE left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | APARTMENT INCOME REIT CORP (AIRC) | 18.9% | 16.8% | |
| 2 | FEDERAL RLTY INVT TR NEW (FRT) | 10.3% | 16.6% | |
| 3 | PARK HOTELS & RESORTS INC (PK) | 16.4% | 16.3% | |
| 4 | SPIRIT RLTY CAP INC NEW (SRC) | 0.0% | 11.3% | Entered the top 10 |
| 5 | NATIONAL RETAIL PROPERTIES I (NNN) | 12.5% | 10.0% | |
| 6 | SUNSTONE HOTEL INVS INC NEW (SHO) | 11.6% | 9.3% | |
| 7 | EPR PPTYS (EPR) | 0.0% | 8.9% | Entered the top 10 |
| 8 | KILROY RLTY CORP (KRC) | 0.0% | 4.5% | Entered the top 10 |
| 9 | VENTAS INC (VTR) | 4.0% | 3.1% | |
| 10 | INVENTRUST PPTYS CORP (IVT) | 0.0% | 1.8% | Entered the top 10 |
| — | FIRST INDL RLTY TR INC (FR) | 13.4% | 0.0% | Left the top 10 |
| — | NATIONAL HEALTH INVS INC (NHI) | 6.7% | 0.0% | Left the top 10 |
| — | VERIS RESIDENTIAL INC (VRE) | 4.5% | 0.0% | Left the top 10 |
| — | EXPEDIA GROUP INC (EXPE) | 1.7% | 0.0% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).
Option positions (puts and calls)
Reported separately from the positions above. The value a 13F reports for an option is that of the underlying shares, not the option itself.
| Activity | Security | Type | Shares before | Shares now | Reported value |
|---|---|---|---|---|---|
| Exited | AMERICAN AIRLS GROUP INC (AAL) | Put | 835K | 0 | $0 |
| Exited | ALEXANDRIA REAL ESTATE EQ IN (ARE) | Put | 42,900 | 0 | $0 |
| Reduced | HOST HOTELS & RESORTS INC (HST) | Put | 1.16M | 757K | $12M |
| Exited | STARWOOD PPTY TR INC (STWD) | Put | 280K | 0 | $0 |
| Exited | BLACKSTONE MTG TR INC (BXMT) | Put | 165K | 0 | $0 |
| Exited | NEW RESIDENTIAL INVT CORP (RITM) | Put | 470K | 0 | $0 |