Company Overview - Lineage is a leading REIT focused on temperature-controlled warehousing and logistics, with a significant presence in the industrial real estate sector [1] - The company provides temperature-controlled warehousing and integrated cold-chain logistics solutions through its Global Warehousing and Global Integrated Solutions segments [1] Financial Performance - As of Nov. 25, 2025, shares of Lineage were priced at $35.66, down 44% over the past year, underperforming the S&P 500 by 58 percentage points [1] - Lineage generated $884 million in cash from operations and $1.1 billion in EBITDA over the last year, with an enterprise value of $17 billion [7] - The company has a 6.3% dividend yield, which may be at risk unless it manages capital expenditures and debt effectively [8] Investment Activity - Pennington Partners & Co., LLC initiated a new position in Lineage, adding 74,370 shares valued at approximately $2.91 million as of Sept. 30, 2025 [3][2] - This new position represents 1.38% of the fund's reportable assets under management, making it the firm's largest individual stock position [2][5] Strategic Positioning - Lineage leverages scale and integrated solutions to address complex cold-chain requirements for major food and retail clients, supporting consistent demand for its specialized services [4] - The company is positioned in an industry expected to grow in importance over time, indicating potential for future growth [7]