RUSH ISLAND MANAGEMENT LP's Q1 2023 13F: 4 new positions, 6 exits
Form 13F-HR for the quarter ended Mar 31, 2023 · filed May 15, 2023 · 12 reported positions · accession 0001214659-23-007186
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| New | ESSEX PPTY TR INC (ESS) | — | 13.3% | +13.3 pts | +518K sh | new |
| New | HEALTHCARE RLTY TR (HR) | — | 11.7% | +11.7 pts | +4.94M sh | new |
| Exited | FIRST INDL RLTY TR INC (FR) | 9.4% | — | −9.4 pts | −1.1M sh | −100% |
| Increased | SPIRIT RLTY CAP INC NEW (SRC) | 10.2% | 12.1% | +1.8 pts | +1.03M sh | +71% |
| Increased | NATIONAL RETAIL PROPERTIES I (NNN) | 8.8% | 10.0% | +1.2 pts | +759K sh | +70% |
| Exited | EXPEDIA GROUP INC (EXPE) | 3.8% | — | −3.8 pts | −244K sh | −100% |
| Increased | SIX FLAGS ENTMT CORP NEW (SIX) | 5.9% | 8.2% | +2.3 pts | +1.07M sh | +74% |
| New | BLACK KNIGHT INC (BKI) | — | 2.9% | +2.9 pts | +416K sh | new |
| Exited | GLOBAL MED REIT INC (GMRE) | 2.9% | — | −2.9 pts | −1.73M sh | −100% |
| Exited | KILROY RLTY CORP (KRC) | 2.8% | — | −2.8 pts | −402K sh | −100% |
| Increased | SUNSTONE HOTEL INVS INC NEW (SHO) | 7.8% | 7.8% | 0.0 pts | +1.86M sh | +41% |
| Reduced | APARTMENT INCOME REIT CORP (AIRC) | 16.9% | 9.9% | −7.0 pts | −514K sh | −18% |
| Increased | FEDERAL RLTY INVT TR NEW (FRT) | 14.5% | 11.8% | −2.7 pts | +165K sh | +20% |
| New | DOUGLAS EMMETT INC (DEI) | — | 1.5% | +1.5 pts | +1M sh | new |
| Exited | MASTERBRAND INC (MBC) | 1.5% | — | −1.5 pts | −1.1M sh | −100% |
| Reduced | INVENTRUST PPTYS CORP (IVT) | 3.1% | 1.3% | −1.8 pts | −279K sh | −38% |
| Increased | PARK HOTELS & RESORTS INC (PK) | 12.3% | 9.5% | −2.8 pts | +428K sh | +7% |
| Exited | BROADMARK RLTY CAP INC (BRMKWS) | 0.0% | — | 0.0 pts | −222K sh | −100% |
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 — 97.2% of the equity book
Changes in the top 10 this quarter: ESS entered · HR entered · BKI entered · FR left · EXPE left · IVT left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | ESSEX PPTY TR INC (ESS) | 0.0% | 13.3% | Entered the top 10 |
| 2 | SPIRIT RLTY CAP INC NEW (SRC) | 10.2% | 12.1% | |
| 3 | FEDERAL RLTY INVT TR NEW (FRT) | 14.5% | 11.8% | |
| 4 | HEALTHCARE RLTY TR (HR) | 0.0% | 11.7% | Entered the top 10 |
| 5 | NATIONAL RETAIL PROPERTIES I (NNN) | 8.8% | 10.0% | |
| 6 | APARTMENT INCOME REIT CORP (AIRC) | 16.9% | 9.9% | |
| 7 | PARK HOTELS & RESORTS INC (PK) | 12.3% | 9.5% | |
| 8 | SIX FLAGS ENTMT CORP NEW (SIX) | 5.9% | 8.2% | |
| 9 | SUNSTONE HOTEL INVS INC NEW (SHO) | 7.8% | 7.8% | |
| 10 | BLACK KNIGHT INC (BKI) | 0.0% | 2.9% | Entered the top 10 |
| — | FIRST INDL RLTY TR INC (FR) | 9.4% | 0.0% | Left the top 10 |
| — | EXPEDIA GROUP INC (EXPE) | 3.8% | 0.0% | Left the top 10 |
| — | INVENTRUST PPTYS CORP (IVT) | 3.1% | 1.3% | 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 |
|---|---|---|---|---|---|
| New | BLACKSTONE MTG TR INC (BXMT) | Put | 0 | 1.02M | $18.1M |
| Increased | HOST HOTELS & RESORTS INC (HST) | Put | 2.7M | 2.97M | $48.9M |