RUSH ISLAND MANAGEMENT LP
Q3 2025 Form 13-F
NEW YORK, NEW YORK
CIK 0001736465
· CRD 291275
· SEC-registered investment adviser
$1.5B Reported Value Total
RUSH ISLAND MANAGEMENT, LP reports 5 total accounts under management (AUM). There are 5 discretionary accounts valued at $2,018,851,000, and 0 non-discretionary accounts.
Source: Form ADV filed * Note that certain holdings are exempt from Form 13-F reporting, so the AUM totals may be greater than the Form 13-F total.
Private funds (Form ADV)
2 funds
· $1.6B gross asset value
Hedge Fund: $1.6B
Source: Form ADV filed 2026-03-27
Reported value
$1.5B
Quarter over quarter
+3.9%
Holdings
17
Top-10 concentration
89.5%
Key People
Form ADV owners & control persons
Stephen Lewis Millham
MANAGING MEMBER
Raleigh W Nuckols
MANAGING MEMBER
Chad Hillard Goldstein
CHIEF COMPLIANCE OFFICER, CHIEF FINANCIAL OFFICER, AND CHIEF OPERATING OFFICER
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Q3 2025 13F record
Q3 2025 13F filing summary
| Period of report | September 30, 2025 |
|---|---|
| Filed | November 14, 2025 |
| Form | 13F-HR |
| Reported value | $1.5B |
| Positions | 17 |
| Change in reported value | -5.9% |
| New positions | 6 |
| Exited positions | 6 |
| Position turnover | 52.2% |
| Top-10 concentration | 89.5% |
13F filings by quarter
| Quarter | Positions | Value |
|---|---|---|
|
Q2 2026 13F
Filed Aug 14, 2026
|
22 | $1.5B |
|
Q1 2026 13F
Filed May 15, 2026
|
22 | $1.5B |
|
Q4 2025 13F
Filed Feb 17, 2026
|
17 | $1.6B |
|
Q3 2025 13F
Filed Nov 14, 2025
|
17 | $1.5B |
|
Q2 2025 13F
Filed Aug 14, 2025
|
17 | $1.5B |
|
Q1 2025 13F
Filed May 15, 2025
|
14 | $1.6B |
|
Q4 2024 13F
Filed Feb 14, 2025
|
14 | $1.5B |
|
Q3 2024 13F
Filed Nov 14, 2024
|
18 | $1.3B |
|
Q2 2024 13F
Filed Aug 14, 2024
|
13 | $1.2B |
|
Q1 2024 13F
Filed May 15, 2024
|
15 | $1.2B |
|
Q4 2023 13F
Filed Feb 14, 2024
|
14 | $1.3B |
|
Q3 2023 13F
Filed Nov 14, 2023
|
19 | $1.2B |
|
Q2 2023 13F
Filed Aug 14, 2023
|
14 | $1.1B |
|
Q1 2023 13F
Filed May 15, 2023
|
12 | $883.6M |
|
Q4 2022 13F
Filed Feb 14, 2023
|
14 | $606.7M |
|
Q3 2022 13F
Filed Nov 14, 2022
|
12 | $466.2M |
|
Q2 2022 13F
Filed Aug 15, 2022
|
11 | $457.2M |
|
Q1 2022 13F
Filed May 16, 2022
|
15 | $481.1M |
|
Q4 2021 13F
Filed Feb 14, 2022
|
19 | $545.1M |
|
Q3 2021 13F
Filed Nov 15, 2021
|
22 | $506.4M |
11 earlier quarters on file — choose one from the quarter menu above.
Top 17 holdings · Q3 2025
| # | Holding | Reported value | % of portfolio |
|---|---|---|---|
| 1 | SBAC SBA COMMUNICATIONS CORP NEW | $182.4M | 12.51% |
| 2 | ESS ESSEX PPTY TR INC | $159.0M | 10.9% |
| 3 | HR HEALTHCARE RLTY TR | $140.7M | 9.64% |
| 4 | FRT FEDERAL RLTY INVT TR NEW | $132.9M | 9.11% |
| 5 | NNN NNN REIT INC | $130.7M | 8.96% |
| 6 | O REALTY INCOME CORP | $126.8M | 8.69% |
| 7 | VTR VENTAS INC | $123.9M | 8.49% |
| 8 | KRC KILROY RLTY CORP | $118.0M | 8.09% |
| 9 | FR FIRST INDL RLTY TR INC | $105.7M | 7.25% |
| 10 | H HYATT HOTELS CORP | $85.8M | 5.88% |
| 11 | SHO SUNSTONE HOTEL INVS INC NEW | $34.7M | 2.38% |
| 12 | AKR ACADIA RLTY TR | $34.6M | 2.37% |
| 13 | SITC SITE CTRS CORP | $30.0M | 2.06% |
| 14 | LINE LINEAGE INC | $19.9M | 1.36% |
| 15 | CURB CURBLINE PPTYS CORP | $17.1M | 1.17% |
| 16 | SIX SIX FLAGS ENTERTAINMENT CORP | $11.1M | 0.76% |
| 17 | HUT HUT 8 CORP | $5.5M | 0.38% |
Values as reported on the Q3 2025 Form 13F. Every position is in the holdings table below.