Managers / Q4 2025
Kawa Capital Management, Inc
CIK 0001534242 · 1010 SOUTH FEDERAL HIGHWAY, SUITE 2900, HALLANDALE BEACH, FL, 33009 · 1 (305) 560-5247
Summary
Kawa Capital Management, Inc reported $43M in U.S.-listed holdings across 4 positions for Q4 2025.
The portfolio is heavily concentrated: BDN alone accounts for 36.4% of reported value.
Compared with Q3 2025, the fund opened 1 new position and exited 2.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- REIT · 83.7% · $36M
- ADR · 16.3% · $7M
Quarter-over-Quarter Changes full breakdown →
vs Q3 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| AREAlexandria Real Estate Equities Inc | NEW | +160.0K | 160.0K | +$8M | $8M |
| GGBGerdau SA | SOLD OUT | −2.09M | 0 | −$6M | $0 |
| DKDelek US Holdings Inc | SOLD OUT | −200.0K | 0 | −$6M | $0 |
| VALEVale SA | TRIMMED | −500.0K | 520.0K | −$4M | $7M |
| ONLOrion Properties Inc | HELD | +0 | 5.47M | −$2M | $13M |
| BDNBrandywine Realty Trust | HELD | +0 | 3.92M | −$632,394 | $16M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2025
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | BDNBrandywine Realty Trusthistory → | SH BEN INT NEW | 36.37% | $16M | 3.92M |
| 2 | ONLOrion Properties Inchistory → | COM | 28.99% | $13M | 5.47M |
| 3 | AREAlexandria Real Estate Equities Inchistory → | COM | 18.33% | $8M | 160.0K |
| 4 | VALEVale SAhistory → | SPONSORED ADS | 16.31% | $7M | 520.0K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q4 2025 | $43M | 4 | Jan 21, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $55M | 5 | Oct 6, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $55M | 6 | Jul 10, 2025 | RESTATEMENT | changes · EDGAR ↗ |
| Q4 2024 | $37M | 4 | Feb 12, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $0 | 1 | Feb 1, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $0 | 1 | Nov 8, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $21M | 28 | Aug 11, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $60M | 67 | May 9, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $104M | 76 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.