This $101 Million Bet Boosts Millrose Stake as Shares Jump 38% in a Year

2 hours ago 1

Jonathan Ponciano, The Motley Fool

Wed, March 4, 2026 astatine 9:41 AM CST 4 min read

On February 17, 2026, Brave Warrior Advisors disclosed a bargain of 3,224,632 shares of Millrose Properties (NYSE:MRP), an estimated $101.14 cardinal commercialized based connected fiscal 4th fourth 2025 mean pricing.

According to an SEC filing dated February 17, 2026, Brave Warrior Advisors accrued its presumption successful Millrose Properties (NYSE:MRP) by 3,224,632 shares during the fiscal 4th fourth ended December 31, 2025. The estimated worth of the acquisition is $101.14 million, calculated utilizing the mean closing terms for the quarter. The quarter-end worth of the MRP presumption roseate by $76.22 million, reflecting stock additions and marketplace terms changes.

The fund’s MRP involvement present accounts for 6.0% of its reportable U.S. equity AUM pursuing the buy.
Top holdings aft this filing:
- NYSE: OMF: $522.79 cardinal (12.2% of AUM)
- NYSE: SNX: $475.21 cardinal (11.1% of AUM)
- NYSE: ELV: $438.82 cardinal (10.3% of AUM)
- NASDAQ: SLM: $347.23 cardinal (8.1% of AUM)
- NYSE: AN: $320.61 cardinal (7.5% of AUM)
As of Wednesday, MRP shares were priced astatine $30.70, up 38% implicit the past twelvemonth and good outperforming the S&P 500’s astir 16% summation successful the aforesaid period.

Metric

Value

Market capitalization	$5 billion
Revenue (TTM)	$411 million
Net income (TTM)	$191.8 million
Dividend yield	8%

Millrose Properties operates a Homesite Option Purchase Platform (HOPP'R), generating gross by providing homebuilders with entree to controlled residential onshore positions.
The institution earns income done enactment fees and related existent property services, offering investors vulnerability to residential onshore banking strategies typically reserved for organization participants.
Primary customers are homebuilders seeking capital-efficient enlargement of their onshore portfolios and investors seeking income-generating, existent estate-backed opportunities.

Millrose Properties is simply a publically traded existent property concern spot specializing successful residential onshore banking done its Homesite Option Purchase Platform. The institution enables homebuilders to efficiently unafraid and power onshore positions, portion providing investors with entree to income streams backed by residential existent property assets. With a absorption connected superior ratio and unsocial marketplace access, Millrose offers a differentiated concern proposition wrong the existent property sector.

With this move, Brave Warrior conscionable made a concentrated stake connected a capital-efficient lodging play that doesn’t ain a azygous finished home. Millrose has built a onshore banking instrumentality that generated $2.44 successful nett income per stock and $2.58 successful AFFO successful 2025, portion distributing $0.75 per 4th and targeting astir 10% AFFO per stock maturation successful 2026.

The level present sits connected astir $8.5 cardinal of invested superior earning a 9.2% weighted mean yield, with newer non-Lennar investments person to 11%. That operation of recurring enactment fees, disciplined leverage astatine 26% indebtedness to capital, and zero enactment terminations successful 2025 creates a steadier net basal than galore accepted lodging plays.

Within a portfolio already anchored by ample positions successful user finance, distribution, wellness insurance, and car retail, adding a 6% value present tilts further toward asset-backed currency travel businesses with disposable income streams. If absorption tin deploy up to $2 cardinal successful caller superior this year, arsenic it’s targeting, without stretching the equilibrium sheet, this could look similar a truly astute determination adjacent aft outsized gains this past year.

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