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RUSH ISLAND MANAGEMENT, LP

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13F filer, CIK 1736465, NEW YORK, NY

RUSH ISLAND MANAGEMENT, LP reported $1,600,315,543 across 17 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 88.5% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001214659-26-001981

Period
2025-12-31
Reported value
$1.6B
Holdings
17
Top 10 weight
88.5%
New
4
Sold out
4

Largest buys vs the previous quarter

SecurityShares changeApprox. value
UDRnew+3,566,132$131M
SBACadded+234,072$45.3M
COLDnew+2,928,659$37.7M
NSAnew+1,197,716$33.8M
NNNadded+763,333$30.3M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
Hexited-604,500-$85.8M
SHOexited-3,708,130-$34.7M
LINEexited-513,900-$19.9M
VTRreduced-136,734-$10.6M
KRCreduced-157,942-$5.9M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001214659-26-001981, largest first. % of portfolio is the value over $1,600,315,543, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
SBACSBA COMMUNICATIONS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 199,009 shares; 2024Q4: not reported; 2025Q1: 547,983 shares; 2025Q2: 360,661 shares; 2025Q3: 943,523 shares; 2025Q4: 1,177,595 shares 1,177,595$228M14.23%+234,072Timeline
ESSESSEX PPTY TR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 594,108 shares; 2025Q4: 637,211 shares 637,211$167M10.42%+43,103Timeline
HRHEALTHCARE RLTY TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,933,592 shares; 2024Q4: 15,681,440 shares; 2025Q1: 12,531,661 shares; 2025Q2: 14,260,152 shares; 2025Q3: 7,803,351 shares; 2025Q4: 9,007,902 shares 9,007,902$153M9.54%+1,204,551Timeline
NNNNNN REIT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,740,981 shares; 2024Q4: 3,003,606 shares; 2025Q1: 3,306,538 shares; 2025Q2: 3,300,053 shares; 2025Q3: 3,069,753 shares; 2025Q4: 3,833,086 shares 3,833,086$152M9.49%+763,333Timeline
UDRUDR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 3,566,132 shares 3,566,132$131M8.17%newTimeline
FRTFEDERAL RLTY INVT TR NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,006,614 shares; 2024Q4: 1,188,734 shares; 2025Q1: 1,417,620 shares; 2025Q2: 1,605,736 shares; 2025Q3: 1,311,488 shares; 2025Q4: 1,285,095 shares 1,285,095$130M8.09%-26,393Timeline
VTRVENTAS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,343,336 shares; 2024Q4: 3,097,830 shares; 2025Q1: 2,735,085 shares; 2025Q2: 2,576,620 shares; 2025Q3: 1,770,189 shares; 2025Q4: 1,633,455 shares 1,633,455$126M7.9%-136,734Timeline
FRFIRST INDL RLTY TR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,086,963 shares; 2024Q4: 1,640,530 shares; 2025Q1: not reported; 2025Q2: 1,660,174 shares; 2025Q3: 2,053,829 shares; 2025Q4: 2,079,542 shares 2,079,542$119M7.44%+25,713Timeline
OREALTY INCOME CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,523,720 shares; 2024Q4: 3,207,870 shares; 2025Q1: 2,793,536 shares; 2025Q2: 2,374,494 shares; 2025Q3: 2,085,394 shares; 2025Q4: 2,004,065 shares 2,004,065$113M7.06%-81,329Timeline
KRCKILROY REALTY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,707,102 shares; 2025Q1: 4,438,739 shares; 2025Q2: 4,050,074 shares; 2025Q3: 2,791,863 shares; 2025Q4: 2,633,921 shares 2,633,921$98.4M6.15%-157,942Timeline
COLDAMERICOLD REALTY TRUST INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 2,928,659 shares 2,928,659$37.7M2.35%newTimeline
AKRACADIA RLTY TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,718,816 shares; 2025Q4: 1,718,816 shares 1,718,816$35.3M2.21%0Timeline
NSANATIONAL STORAGE AFFILIATESQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,197,716 shares 1,197,716$33.8M2.11%newTimeline
SITCSITE CTRS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 227,435 shares; 2024Q4: 1,582,301 shares; 2025Q1: 2,351,452 shares; 2025Q2: 2,749,546 shares; 2025Q3: 3,330,365 shares; 2025Q4: 3,989,634 shares 3,989,634$25.6M1.6%+659,269Timeline
FUNSIX FLAGS ENTERTAINMENT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 3,794,084 shares; 2025Q3: 487,121 shares; 2025Q4: 1,181,229 shares 1,181,229$18.1M1.13%+694,108Timeline
CURBCURBLINE PPTYS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 767,641 shares; 2025Q4: 768,327 shares 768,327$17.8M1.11%+686Timeline
SMASMARTSTOP SELF STORAG REIT IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 505,613 shares 505,613$15.6M0.98%newTimeline

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
HHYATT HOTELS CORP604,500$85.8Mshares
SHOSUNSTONE HOTEL INVS INC NEW3,708,130$34.7Mshares
LINELINEAGE INC513,900$19.9Mshares
HUTHUT 8 CORP158,627$5.52Mshares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001214659-26-001981 base2026-02-17acceptance time not in the bulk data set