Here are the 10-K annual reports from Star Holdings Shares of Beneficial Interest (STHO) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow STHO and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full STHO filings page.
Star Holdings files its annual report describing a strategy focused on liquidating legacy real estate and related assets while managing significant exposure to Safehold shares. The company was created in the 2023 spin-off of iStar’s non‑ground‑lease assets and is externally managed by a Safehold subsidiary.
At December 31, 2025, major development projects Asbury Park Waterfront and Magnolia Green had carrying values of about $127.6 million and $28.9 million, respectively, while a separate monetizing portfolio of loans, land and other assets totaled $149.8 million. Star also held Safehold shares valued at $185.1 million, collateralizing a margin loan that can trigger collateral calls or forced repayment if the share price falls.
For 2025, total revenue was $110.1 million and the company reported a net loss of $70.8 million, driven largely by $64.8 million of unrealized losses on equity investments. Land development revenue declined as lots and parcels were sold, and management warns that future development revenue will fall as inventory is reduced.