RUSH ISLAND MANAGEMENT LP's Q3 2025 13F: 6 new positions, 6 exits
Form 13F-HR for the quarter ended Sep 30, 2025 · filed Nov 14, 2025 · 17 reported positions · accession 0001214659-25-016635
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| New | ESSEX PPTY TR INC (ESS) | — | 10.9% | +10.9 pts | +594K sh | new |
| Reduced | HEALTHCARE RLTY TR (HR) | 14.7% | 9.6% | −5.1 pts | −6.46M sh | −45% |
| Increased | SBA COMMUNICATIONS CORP NEW (SBAC) | 5.5% | 12.5% | +7.0 pts | +583K sh | +162% |
| Reduced | SIX FLAGS ENTERTAINMENT CORP (SIX) | 7.5% | 0.8% | −6.8 pts | −3.31M sh | −87% |
| Exited | HOST HOTELS & RESORTS INC (HST) | 4.4% | — | −4.4 pts | −4.37M sh | −100% |
| Reduced | VENTAS INC (VTR) | 10.6% | 8.5% | −2.1 pts | −806K sh | −31% |
| Reduced | KILROY RLTY CORP (KRC) | 9.0% | 8.1% | −1.0 pts | −1.26M sh | −31% |
| Exited | EQUINIX INC (EQIX) | 2.7% | — | −2.7 pts | −52,126 sh | −100% |
| Exited | APARTMENT INVT & MGMT CO (AIV) | 2.7% | — | −2.7 pts | −4.78M sh | −100% |
| New | SUNSTONE HOTEL INVS INC NEW (SHO) | — | 2.4% | +2.4 pts | +3.71M sh | new |
| New | ACADIA RLTY TR (AKR) | — | 2.4% | +2.4 pts | +1.72M sh | new |
| Reduced | FEDERAL RLTY INVT TR NEW (FRT) | 9.9% | 9.1% | −0.8 pts | −294K sh | −18% |
| Increased | FIRST INDL RLTY TR INC (FR) | 5.2% | 7.2% | +2.0 pts | +394K sh | +24% |
| New | LINEAGE INC (LINE) | — | 1.4% | +1.4 pts | +514K sh | new |
| Exited | CORE SCIENTIFIC INC NEW (CORZ) | 1.4% | — | −1.4 pts | −1.22M sh | −100% |
| Reduced | REALTY INCOME CORP (O) | 8.9% | 8.7% | −0.2 pts | −289K sh | −12% |
| New | CURBLINE PPTYS CORP (CURB) | — | 1.2% | +1.2 pts | +768K sh | new |
| Increased | HYATT HOTELS CORP (H) | 4.5% | 5.9% | +1.4 pts | +107K sh | +22% |
| Exited | HUDSON PAC PPTYS INC (HPP) | 0.8% | — | −0.8 pts | −4.53M sh | −100% |
| Exited | PARAMOUNT GROUP INC (PGRE) | 0.8% | — | −0.8 pts | −2.02M sh | −100% |
| Reduced | NNN REIT INC (NNN) | 9.3% | 9.0% | −0.3 pts | −230K sh | −7% |
| New | HUT 8 CORP (HUT) | — | 0.4% | +0.4 pts | +159K sh | new |
| Increased | SITE CTRS CORP (SITC) | 2.0% | 2.1% | 0.0 pts | +581K sh | +21% |
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 — 89.5% of the equity book
Changes in the top 10 this quarter: ESS entered · SIX left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | SBA COMMUNICATIONS CORP NEW (SBAC) | 5.5% | 12.5% | |
| 2 | ESSEX PPTY TR INC (ESS) | 0.0% | 10.9% | Entered the top 10 |
| 3 | HEALTHCARE RLTY TR (HR) | 14.7% | 9.6% | |
| 4 | FEDERAL RLTY INVT TR NEW (FRT) | 9.9% | 9.1% | |
| 5 | NNN REIT INC (NNN) | 9.3% | 9.0% | |
| 6 | REALTY INCOME CORP (O) | 8.9% | 8.7% | |
| 7 | VENTAS INC (VTR) | 10.6% | 8.5% | |
| 8 | KILROY RLTY CORP (KRC) | 9.0% | 8.1% | |
| 9 | FIRST INDL RLTY TR INC (FR) | 5.2% | 7.2% | |
| 10 | HYATT HOTELS CORP (H) | 4.5% | 5.9% | |
| — | SIX FLAGS ENTERTAINMENT CORP (SIX) | 7.5% | 0.8% | 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 | CORE SCIENTIFIC INC NEW (CORZ) | Call | 811K | 0 | $0 |