RUSH ISLAND MANAGEMENT, LP

CIK 1736465 · View on SEC EDGAR ↗

Portfolio value QoQ: +1.2% 13F does not disclose cash

Top 10 holdings weight67.17%

Top 25 holdings weight100.00%

Positions above 1%20

Effective number of positions17.1

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q2 2026: 31.96% Est. buys $479,402,652 · sells $622,120,906

Median holding: 1.0 quarters Tracked Q1 2025–Q2 2026 · 45.8% still held

New positions8

Increased5

Decreased9

Closed7

Portfolio value $1.5B #1,934 of 9,337 by 13F value · top 20.7%

Positions 22

As of June 30, 2026 Data as of Q2 2026

Performance vs S&P 500

Tracked Q1 2025–Q2 2026 +20.5%

S&P 500 total return (same window) +37.0%

Excess return -16.5%

Annualized: +16.1% · S&P 500: +28.7%

Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.

Priceable coverage: 99.7% · Options excluded: 0.2%

Sector breakdown

Real Estate 91.1%

Consumer Discretionary 1.3%

Other/Unmapped 7.6%

Full portfolio 22 positions

					Streak
INVH Invitation Homes Inc. Common Stock	$137,309,767	9.10%	4,545,176	$32,017,658	Up ×1
ESS Essex Property Trust, Inc. Common Stock	$127,867,464	8.47%	438,518	$-67,642,642	Down ×1
NNN NNN REIT, Inc. Common Stock	$115,119,454	7.63%	2,474,091	$-15,143,453	Down ×2
KRC Kilroy Realty Corporation Common Stock	$110,377,440	7.31%	2,945,755	$-26,744,092	Down ×1
HR Healthcare Realty Trust Incorporated Common Stock	$105,161,620	6.97%	5,213,764	$-17,597,280	Down ×2
VTR Ventas, Inc. Common Stock	$98,893,008	6.55%	1,113,660	$-15,816,527	Down ×6
SBRA Sabra Health Care REIT, Inc. - Common Stock	$82,147,440	5.44%	4,210,530	$51,412,381	Up ×1
SBAC SBA Communications Corporation - Class A Common Stock	$80,516,933	5.34%	456,290	$-87,873,770	Down ×2
FR First Industrial Realty Trust, Inc. Common Stock	$78,634,489	5.21%	1,282,572	$-22,854,311	Down ×2
Unknown issuer (CUSIP: 09264B107)	$77,597,625	5.14%	3,587,500		Up ×1
EQR Equity Residential Common Shares of Beneficial Interest	$66,351,646	4.40%	976,765		Up ×1
AMT American Tower Corporation (REIT) Common Stock	$66,309,642	4.39%	405,390		Up ×1
ADC Agree Realty Corporation Common Stock	$66,183,808	4.39%	873,829	$15,118,532	Up ×1
DOC Healthpeak Properties, Inc. Common Stock	$63,015,061	4.18%	2,944,629		Up ×1
MAC Macerich Company (The) Common Stock	$52,113,072	3.45%	2,068,800		Up ×1
EPRT Essential Properties Realty Trust, Inc. Common Stock	$48,655,560	3.22%	1,630,002	$10,733,279	Up ×1
IRT Independence Realty Trust, Inc. Common Stock	$38,666,608	2.56%	2,316,753	$-12,795,644	Down ×1
Unknown issuer (CUSIP: 42226B501)	$37,771,231	2.50%	2,578,241		Up ×1
VICI VICI Properties Inc. Common Stock	$19,498,320	1.29%	734,400		Up ×1
SITC SITE Centers Corp. Common Stock	$17,864,416	1.18%	4,499,853	$-6,142,180	Up ×6
POOL Pool Corporation - Common Stock	$10,014,340	0.66%	46,600		Up ×1
FUN Six Flags Entertainment Corporation Common Stock New	$8,923,550	0.59%	418,946	$-7,545,415	Down ×2
No matches

Conviction holdings

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

Security	Value	% of portfolio	Streak
SITC	$17,864,416	1.18%	up ×6

Biggest new bets

New positions opened this quarter, largest first.

Security	Value	Shares	% of portfolio
Unknown issuer (CUSIP: 09264B107)	$77,597,625	3,587,500	5.14%
EQR	$66,351,646	976,765	4.40%
AMT	$66,309,642	405,390	4.39%
DOC	$63,015,061	2,944,629	4.18%
MAC	$52,113,072	2,068,800	3.45%
Unknown issuer (CUSIP: 42226B501)	$37,771,231	2,578,241	2.50%
VICI	$19,498,320	734,400	1.29%
POOL	$10,014,340	46,600	0.66%

Top movers (QoQ)

Security	Action	Shares Δ	Value Δ
SBAC	Trimmed	-522K	-$87.9M
ESS	Trimmed	-369K	-$67.6M
SBRA	Bought more	+2.6M	+$51.4M
INVH	Bought more	+308K	+$32.0M
KRC	Trimmed	-1.9M	-$26.7M
FR	Trimmed	-472K	-$22.9M
HR	Trimmed	-2.0M	-$17.6M
VTR	Trimmed	-289K	-$15.8M
NNN	Trimmed	-625K	-$15.1M
ADC	Bought more	+196K	+$15.1M

Exited positions

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

Security	Quarter	Shares before	Value before	Price since exit
UDR	March 31, 2026	3,566,132	$130,805,722	0.2%
REXR	June 30, 2025	3,092,217	$121,060,296	3.1%
O	March 31, 2026	2,004,065	$112,969,144	-12.1%
H	Dec. 31, 2025	604,500	$85,796,685	-2.2%
CUZ	June 30, 2025	2,741,978	$80,888,351	-9.0%
FRT	June 30, 2026	638,538	$67,819,121	-14.2%
HST	Sept. 30, 2025	4,374,633	$67,194,363	31.8%
EQIX	Sept. 30, 2025	52,126	$41,464,669	30.7%
AIV	Sept. 30, 2025	4,779,357	$41,341,438	-76.3%
BKD	June 30, 2025	6,462,066	$40,452,533	51.3%
COLD	June 30, 2026	3,097,316	$35,495,241	-10.6%
SHO	Dec. 31, 2025	3,708,130	$34,745,178	26.6%
CORZ	Sept. 30, 2025	2,029,275	$34,639,724	-7.5%
NSA	March 31, 2026	1,197,716	$33,787,568	No longer tracked
AKR	June 30, 2026	1,689,278	$32,298,995	-12.0%
LINE	Dec. 31, 2025	513,900	$19,857,096	-0.1%
CSGP	June 30, 2026	483,200	$19,492,288	-2.3%
APLE	June 30, 2026	1,489,435	$17,143,397	-2.4%
CURB	June 30, 2026	664,514	$17,137,816	-8.4%
SMA	March 31, 2026	505,613	$15,643,666	7.2%
HPP	Sept. 30, 2025	4,529,012	$12,409,493	-41.8%
PGRE	Sept. 30, 2025	2,015,533	$12,294,751	No longer tracked
SNDA	June 30, 2026	218,171	$7,036,015	-10.0%
HUT	Dec. 31, 2025	158,627	$5,521,806	94.3%