Long Pond Real Estate Select ETF
LPRE
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- Long Pond Real Estate Select ETF (LPRE) is an actively managed exchange-traded fund that provides investors with targeted exposure to high-quality real estate compounders and market leaders in the public markets, focusing on companies capable of generating long-term value across market cycles. The ETF's portfolio includes a diversified selection of equity securities in the real estate sector, encompassing mortgage real estate investment trusts (REITs), equity REITs, and related financial services; top holdings feature Prologis Inc. (PLD), at approximately 7.35%; D.R. Horton Inc. (DHI), at 7.94%; Hyatt Hotels Corp (H), at 8.34%; Mid-America Apartment Communities Inc. (MAA); Invitation Homes Inc. (INVH); First Industrial Realty Trust Inc. (FR); Equity Lifestyle Properties Inc. (ELS); Agree Realty Corp. (ADC); Ventas Inc. (VTR); CubeSmart (CUBE); Simon Property Group Inc. (SPG); Equinix Inc. (EQIX); and others such as Equity Residential (EQR) and Federal Realty Investment Trust (FRT), with a total of around 26 holdings and assets under management of approximately $16.07 million as of mid-2025. Launched on April 4, 2025, and listed on NYSE Arca, LPRE is issued by Exchange Listed Funds Trust and managed by Exchange Traded Concepts, LLC, with co-management by Long Pond Capital, LP, and maintains an expense ratio of 1.00% while targeting growth and value stocks across diversified market capitalizations primarily in the United States. In recent developments, Long Pond Capital, LP, the ETF's co-manager, established significant new positions in key holdings during the second quarter of 2025, including a $33.5 million stake in Simon Property Group Inc. (SPG) comprising 208,500 shares and a $3.63 million position in Prologis Inc. (PLD) with 34,550 shares, reflecting strategic reinforcement of the fund's core real estate exposure. The ETF, domiciled in the United States with operational focus on North American and global public real estate equities, represents Long Pond Capital's expansion into actively managed ETF products beyond its traditional hedge fund strategies. No major acquisitions, partnerships, or reorganizations specific to the ETF have been reported since inception, though ongoing portfolio adjustments underscore its active management approach.