What is the 13F Pro Quality Score for MRP?

13F Pro ranks Millrose Properties, Inc. (MRP) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View MRP's current score at https://13fpro.ai/company/MRP (free sign-up required for the full ranking).

Which hedge funds own the most MRP stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of MRP include BlackRock,, VANGUARD PORTFOLIO MANAGEMENT, FMR. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/company/MRP as soon as new 13F filings post.

Where does 13F Pro source MRP data?

All Millrose Properties, Inc. fundamentals and ownership data come directly from SEC EDGAR. Millrose Properties, Inc. files with the SEC under CIK 2017206. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is MRP in?

Millrose Properties, Inc. (MRP) is classified in the Real Estate sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/real-estate.

What drives MRP's revenue?

Per Millrose Properties, Inc.'s latest 10-Q filed with the SEC on 2026-08-04, the biggest revenue drivers are: Option fee revenues ($195.4M, +38% YoY); Development loan income ($1.5M, -82% YoY). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/company/MRP.

What are MRP's largest expenses?

Millrose Properties, Inc.'s latest 10-Q reports these as the largest expense items: Management Fee expense ($29.9M, +36% YoY). Sourced directly from SEC EDGAR filing text for Q2 FY2026 (quarter ended June 30, 2026).

How often is MRP research updated on 13F Pro?

MRP's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Millrose Properties, Inc.(MRP)Stock Analysis

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SEC EDGAR: CIK 2017206 MRP stock profile & AI dashboard →

13F Pro Quality Score

82.3/100

Rank #15 of 2,961 stocksTOP 1%

View Real Estate peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Nov 14, 2026.

Revenue Growth

83.8/100

Profitability

98.6/100

Balance Sheet

71.4/100

Earnings Quality

92.2/100

Free Cash Flow

100.0/100

Institutional Flow

76.7/100

Revenue Scale

44.8/100

Dilution Risk

87.7/100

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Why MRP Scores 82/100

exact factor attribution · 2026-09-11

MRP's composite is driven by free cash flow and profitability. Bars show each factor's exact push vs. a median company, using the same weights the ranking engine applies.

Free cash flow

+7.5 pts

100th pct

Profitability

+7.3 pts

99th pct

Revenue growth

+6.8 pts

84th pct

Earnings quality

+4.2 pts

92th pct

Capital efficiency

+2.1 pts

71th pct

Earnings growth

+2.0 pts

90th pct

Shareholder dilution

+1.9 pts

88th pct

Institutional flow

+1.3 pts

77th pct

Scale

-0.8 pts

45th pct

Latest change (2026-08-04): 77 → 74 · ↓ Revenue growth 88→80

Factor percentiles are cross-sectional ranks across the ~2,800-stock scored universe, computed from SEC EDGAR filings. Not investment advice.

Unusual Activity in MRP

Events flagged as statistical outliers against MRP's own multi-year baseline — not fixed dollar thresholds.

Insider cluster2026-08-10
2 insiders bought $115,580 of MRP in 30 days — 2.7σ above this company's 2-year norm
View source filing →

MRP Stock Analysis & AI Quality Score

Data updated 2026-09-11

AI stock analysis and institutional research for Millrose Properties, Inc. (MRP), a Real Estate sector company. 13F Pro's AI-powered ranking engine scores MRP at 82.3/100 on a 32-signal composite quality model, placing it at rank #15 of 2,961 stocks — the top 1% of the AI-ranked universe. MRP scores in the top quartile across free cash flow (100.0), profitability (98.6), earnings quality (92.2). Based on the latest XBRL financial filings (Q2 2026), Millrose Properties, Inc. reports quarterly revenue of $196.9M, net income of $125.9M, an operating margin of 85.2%. Top institutional holders of MRP by reported 13-F value include BlackRock, VANGUARD PORTFOLIO MANAGEMENT, FMR, based on the most recent SEC filings. MRP trades on the NYSE exchange and files with the SEC under CIK 2017206. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate MRP daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Millrose Properties, Inc. directly from SEC EDGAR. Millrose Properties, Inc.'s 13F Pro composite quality score has ranged between 74 and 82 since 2026, currently 82.3 — an improving long-term trajectory across 44 quarterly and live scoring snapshots.

✦

Fun facts about Millrose Properties, Inc.

Quirks, history, and lore behind MRP — the kind of stuff that makes a stock memorable.

1
The Basics
A U.S. real estate investment trust · listed on the NYSE · focused on land and housing assets · headquartered in Florida.
2
The Numbers
Its portfolio is measured in thousands of homesites rather than office towers or malls — a relatively small-cap REIT in a niche corner of the market.
3
The History
The company was spun off in 2024 from one of America's largest homebuilders, which wanted to separate its land banking operations into a standalone public vehicle.
4
The Secret
Its whole model is being a land bank — it holds the dirt, and its former parent options the lots back to build homes on, keeping the builder's balance sheet lean.
5
The Lore
The spin-off structure was inspired partly by the asset-light playbook popularized by hotel and fast-food chains — why own the land when you can rent the right to use it?
6
The Giveaway
Spun out of Lennar Corporation in early 2024, this REIT exists purely to hold Lennar's homesite inventory — if you know your homebuilder spin-offs, this ticker is yours.

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What's Driving MRP's Business? Latest 10-Q Breakdown

AI-extracted from Millrose Properties, Inc.'s 10-Q filed 2026-08-04 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Millrose generated $196.9M in total revenue for Q2 2026, up 32% YoY, driven by 38% growth in option fee revenues to $195.4M as the homesite portfolio expanded.

Biggest Revenue Drivers

Option fee revenues$195.4M+38% YoY

Reflects continued growth from geographic expansion and counterparty diversification, with Lennar representing 72% of total revenues.

Development loan income$1.5M-82% YoY

$284M payoff of development loan on April 1, 2026 with unaffiliated third party reduced interest income earned.

Biggest Revenue Drivers

Total revenue: $196.9M+32% YoY

Option fee revenues$195.4M+38% YoY

Reflects continued growth from geographic expansion and counterparty diversification, with Lennar representing 72% of total revenues.

Development loan income$1.5M-82% YoY

$284M payoff of development loan on April 1, 2026 with unaffiliated third party reduced interest income earned.

Largest Expense Items

Management Fee expense$29.9M+36% YoY

Calculated as 1.25% per annum of Tangible Assets; higher due to increased homesites under option contracts.

Watch Items from the Filing

Lennar concentration: Lennar represented 72% of Q2 2026 total revenues ($141.5M) and 72% of option fee revenues, with 74% of invested capital deployed through Master Program Agreement.
Debt obligations increased to $2.52B as of June 30, 2026 from $2.14B at year-end 2025. Senior Notes total $2.0B at fixed rates 6.25-6.375%; Revolving Credit Facility had $485M drawn of $1.335B available.
Development loan portfolio reduced significantly: receivables fell from $329M to $50M following $284M payoff on April 1, 2026; allowance for credit losses reduced by $0.9M related to payoff.
REIT status intent: Company intends to elect REIT taxation for year ended December 31, 2025; must distribute 90% of REIT taxable income. Current effective tax rate on TRS activities is 24.9%.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q2 2026

$196.9M

Net Income

Q2 2026

$125.9M

Operating Margin

Q2 2026

85.2%

ROIC

Q2 2026

8.1%

D/E Ratio

Q2 2026

0.42

Period

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro

Revenue

$600.5MFY 2025

FY22 —FY23 —FY24 —FY25 $600.5M

Net Income

+254.3% YoY

$379.9MFY 2025

FY22 —FY23 $-209.8MFY24 $-246.2MFY25 $379.9M

Operating Income

+297.4% YoY

$486.1MFY 2025

FY22 —FY23 $-209.8MFY24 $-246.2MFY25 $486.1M

EPS (Diluted)

$2.44FY 2025

FY22 —FY23 —FY24 —FY25 $2.44

Total Assets

+69.4% YoY

$9.26BFY 2025

FY22 —FY23 —FY24 $5.47BFY25 $9.26B

Total Debt

+8631.9% YoY

$2.11BFY 2025

FY22 —FY23 —FY24 $24.2MFY25 $2.11B

Op. Cash Flow

+500.4% YoY

$3.67BFY 2025

FY22 —FY23 $-865.1MFY24 $-917.2MFY25 $3.67B

Metric	FY 2025	FY 2024	FY 2023	FY 2022
Revenue	$600.5M	—	—	—
Net Income	$379.9M +254.3%	$-246.2M -17.4%	$-209.8M	—
Operating Income	$486.1M +297.4%	$-246.2M -17.4%	$-209.8M	—
EPS (Diluted)	$2.44	—	—	—
Total Assets	$9.26B +69.4%	$5.47B	—	—
Total Debt	$2.11B +8631.9%	$24.2M	—	—
Operating Cash Flow	$3.67B +500.4%	$-917.2M -6.0%	$-865.1M	—

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Available Research

13F Pro tracks comprehensive data for Millrose Properties, Inc. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of MRP

BlackRock, Inc.
$668.3M22,238,588 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$467.6M15,560,238 sh
FMR LLC
$247.3M8,229,447 sh
VANGUARD CAPITAL MANAGEMENT LLC
$208.6M6,940,665 sh
STATE STREET CORP
$205.1M6,824,473 sh
Brave Warrior Advisors, LLC
$181.2M6,030,725 sh
MANUFACTURERS LIFE INSURANCE COMPANY, THE
$122.9M4,090,294 sh
Permian Investment Partners, LP
$119.5M3,977,316 sh
NORGES BANK
$117.8M3,919,456 sh
Spears Abacus Advisors LLC
$111.3M3,703,408 sh

Fund	Value	Shares
BlackRock, Inc.	$668.3M	22,238,588
VANGUARD PORTFOLIO MANAGEMENT LLC	$467.6M	15,560,238
FMR LLC	$247.3M	8,229,447
VANGUARD CAPITAL MANAGEMENT LLC	$208.6M	6,940,665
STATE STREET CORP	$205.1M	6,824,473
Brave Warrior Advisors, LLC	$181.2M	6,030,725
MANUFACTURERS LIFE INSURANCE COMPANY, THE	$122.9M	4,090,294
Permian Investment Partners, LP	$119.5M	3,977,316
NORGES BANK	$117.8M	3,919,456
Spears Abacus Advisors LLC	$111.3M	3,703,408

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Is MRP a good stock to buy?

13F Pro's AI-powered analysis of Millrose Properties, Inc. (MRP) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Real Estate sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for MRP are available on the MRP stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing. MRP is classified as a mid company.

Which hedge funds own MRP?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling MRP. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Millrose Properties, Inc.'s investment landscape.