Star Holdings
Star Holdings, Inc. (Nasdaq: STHO) is a real estate investment company that operates as a successor to the legacy non-ground lease assets of iStar Inc. following iStar's merger with Safehold Inc. in March 2023. The company was spun off as an independent, publicly traded entity and maintains its website at… From the company’s description.
Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.
What Star Holdings does
In the company’s own words
Star Holdings, Inc. (Nasdaq: STHO) is a real estate investment company that operates as a successor to the legacy non-ground lease assets of iStar Inc. following iStar's merger with Safehold Inc. in March 2023. The company was spun off as an independent, publicly traded entity and maintains its website at www.starholdingsco.com.
The company operates as a single business segment focused on realizing shareholder value through active asset management and strategic sales of its real estate portfolio. Star Holdings' investment strategy emphasizes maximizing cash flows from existing assets rather than pursuing material new acquisitions. The company is externally managed by a wholly-owned subsidiary of Safehold Inc., which provides executive management and operational support personnel.
Star Holdings' portfolio comprises legacy real estate assets from iStar's historical finance, operating properties, and land development businesses, along with a significant equity stake in Safehold Inc. The portfolio includes two major development properties: Asbury Park Waterfront in New Jersey, featuring mixed-use residential, hospitality, and retail components with an aggregate carrying value of approximately $127.6 million, and Magnolia Green, a 1,900-acre master-planned residential community near Richmond, Virginia, with a carrying value of approximately $28.9 million. The company also maintains a monetizing portfolio of approximately $149.8 million comprising loans, operating properties, land assets, and other investments targeted for sale or repayment.
For the year ended December 31, 2025, hotel operations generated approximately 20 percent of total revenues. The company's Safehold Inc. shareholding represents a material asset, with dividends from these shares comprising approximately 9 percent of total revenues.
Star Holdings finances its operations primarily through a credit facility with Safehold Inc. and a margin loan facility collateralized by its Safehold shares. The company has no employees and relies entirely on its external manager for human capital resources, with the manager maintaining a staff of 72 full-time employees as of December 31, 2025. The company is classified as an emerging growth company under the JOBS Act and has opted out of the extended transition period for adopting new accounting standards.
Company details
- Sector
- Real Estate
- Industry
- Real Estate
- Headquarters
- NEW YORK, NY
- Fiscal year end
- December
- CIK
- 1953366
- SIC
- 6519
Financial performance, year by year
Fiscal 2023–2025 · USDThe full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.
Who owns Star Holdings — and what changed
Funds as of 2026Q2 · superinvestors as of 2026-06-30
Largest fund holders · Star Holdings’s weight in each
Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.
Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.
Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.
Recent filings
All filings →Each filing opens into its own statements and disclosures here.
Put this business in context.
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