Masterton Capital Management, LP

Hedge Fund • Long/Short

Masterton Capital Management, LP is a Long/Short Hedge Fund based in New York, NY led by Stephen Michael Mykijewycz, reporting $330.6M in AUM as of Q3 2025 with 74% Real Estate concentration and 72% concentrated in top 10 holdings.

CEOStephen Michael Mykijewycz

Portfolio Value: $182.4M
Positions: 21
Top Holding: FRT at 13.64%
Last Reported: Q3 2025

Address60 East 42nd Street, Suite 1560, New York, NY, 10165, United States

Top Holdings

Largest long holdings in Masterton Capital Management, LP's portfolio (71.7% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Federal Realty FRT	REIT - Retail Real Estate	$24.9M	13.64%	-$15.4M Sold	0.28% 245.6K shares	Q3 2022 Held for 3y 2m
2 Equity Residential EQR	REIT - Residential Real Estate	$19.9M	10.89%	+$12.0M Bought	0.08% 306.8K shares	Q3 2023 Held for 2y 2m
3 Public Storage PSA	REIT - Industrial Real Estate	$15.8M	8.68%	+$15.8M New	0.03% 54.8K shares	Q3 2025 Held for 2 months
4 Invitation Homes INVH	REIT - Residential Real Estate	$12.8M	7.00%	+$5.5M Bought	0.07% 435.6K shares	Q3 2024 Held for 1y 2m
5 American Homes 4 Rent AMH	REIT - Residential Real Estate	$12.2M	6.72%	+$2.0M Bought	0.10% 368.4K shares	Q2 2024 Held for 1y 5m
6 Burlington Stores BURL	Apparel - Retail Consumer Cyclical	$12.0M	6.60%	+$12.0M Bought	0.08% 47.3K shares	Q3 2025 Held for 2 months
7 Performance Food Group PFGC	Food Distribution Consumer Defensive	$9.5M	5.22%	-$35.2M Sold	0.06% 91.6K shares	Q4 2021 Held for 3y 11m
8 Trex Company TREX	Construction Industrials	$8.0M	4.40%	+$3.8M Bought	0.14% 155.2K shares	Q3 2024 Held for 1y 2m
9 Prologis PLD	REIT - Industrial Real Estate	$7.8M	4.28%	-$10.6M Sold	0.01% 68.1K shares	Q4 2023 Held for 1y 11m
10 Extra Space Storage EXR	REIT - Industrial Real Estate	$7.8M	4.26%	+$7.8M Bought	0.03% 55.1K shares	Q3 2025 Held for 2 months

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Masterton Capital Management, LP's latest filing

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Market Value

$182.4M

Prior: $165.4M

Q/Q Change

+10.25%

+$17.0M

Net Flows % of MV

-41.82%

Turnover Ratio

65.11%

New Purchases

4 stocks

$32.5M

Added To

6 stocks

+$31.2M

Sold Out Of

9 stocks

$64.7M

Reduced Holdings

5 stocks

-$75.3M

Increased Positions

Position	Shares Δ	Change
1 Public Storage PSA	New	0 → 54.8K +$15.8M
2 Terreno Realty TRNO	New	0 → 125.8K +$7.1M
3 Tanger SKT	New	0 → 160.6K +$5.4M
4 The Chef's Warehouse CHEF	New	0 → 69.9K +$4.1M
5 Kimco Realty KIM	+405.13%	56.5K → 285.2K +$5.0M

Decreased Positions

Position	Shares Δ	Change
1 The AZEK Company AZEK	Sold	57.8K → 0 −$16.4M
2 Dick's Sporting Goods DKS	Sold	40.1K → 0 −$11.8M
3 Essex Property Trust ESS	Sold	42.8K → 0 −$10.0M
4 Louisiana-Pacific Corporation LPX	Sold	46.7K → 0 −$6.9M
5 NNN REIT NNN	Sold	80.6K → 0 −$5.4M