SEC 13F Intelligence

Managers / Q3 2022 · view latest →

LDR Capital Management LLC

CIK 0001566089 · 300 PARK AVENUE, SUITE 520, NEW YORK, NY, 10022 · 646-927-5800

Reported Value
$198M
Q3 2022
Positions
50
Filings on Record
29
2019–present window
Filed
Nov 9, 2022
original filing

Summary

Ldr Capital Management LLC reported $198M in U.S.-listed holdings across 50 positions for Q3 2022.

The portfolio is heavily concentrated: BXMT alone accounts for 22.2% of reported value.

Compared with Q2 2022, the fund opened 5 new positions and exited 23.

Portfolio Metrics

Turnover
+6.9%
vs prior filed quarter
Top-10 Concentration
+64.2%
share of reported value
Largest Position
+22.2%
Blackstone Mtg Tr
New / Exited
5 / 23
positions this quarter

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

13F Reported Value
Q1 ’19: $123MQ1 ’19Q2 ’19: $146MQ3 ’19: $131MQ4 ’19: $167MQ1 ’20: $58MQ1 ’20Q2 ’20: $86MQ3 ’20: $101MQ4 ’20: $130MQ1 ’21: $132MQ1 ’21Q2 ’21: $159MQ3 ’21: $177MQ4 ’21: $219MQ1 ’22: $318MQ1 ’22Q2 ’22: $239MQ3 ’22: $198MQ4 ’22: $183MQ1 ’23: $152MQ1 ’23Q2 ’23: $161MQ3 ’23: $165MQ4 ’23: $179MQ1 ’24: $149MQ1 ’24Q2 ’24: $110MQ3 ’24: $90MQ4 ’24: $74MQ1 ’25: $83MQ1 ’25Q2 ’25: $77MQ3 ’25: $68MQ4 ’25: $72MQ1 ’26: $74MQ1 ’26filingsflow.com

Portfolio Composition

By security type
REIT: 68.9%PUBLIC: 17.5%US DOMESTIC: 6.1%Other: 2.9%Common Stock: 1.9%Other: 2.7%
  • REIT · 68.9% · $136M
  • PUBLIC · 17.5% · $35M
  • US DOMESTIC · 6.1% · $12M
  • Other · 2.9% · $6M
  • Common Stock · 1.9% · $4M
  • Other · 2.7% · $5M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
Apollo Coml Real Estate FinNEW+3.59M3.59M+$3M$3M
HRHealthcare Realty Trust IncNEW+151.4K151.4K+$3M$3M
XLREReal Estate Select Sector SpdrNEW+53.5K53.5K+$2M$2M
The Necessity Retail Reit IncNEW+200.0K200.0K+$1M$1M
ALCOAlico IncNEW+12.9K12.9K+$363,000$363,000
KRGKite Realty Group TrADDED+47.0K70.3K+$807,000$1M
VTRVentas IncSOLD OUT−183.6K0−$9M$0
GNLGlobal Net Lease Inc NewSOLD OUT−435.4K0−$6M$0

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q3 2022

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1BXMTBlackstone Mtg Tr Inc Cl Ahistory →COM CL A22.19%$44M1.88M
2SLGSl Green Realty Corphistory →COM12.89%$26M635.1K
3Rpt Realty 7.25 Pfd D Conv7.25 PFD D CONV6.54%$13M295.3K
4GLPIGaming Leisure Properties Inhistory →COM4.35%$9M194.5K
5Epr Properties Conv Pfd 9 SrCONV PFD 9% SR E3.87%$8M298.0K
6Rlj Lodging Tr Cum Conv Pfd ACUM CONV PFD A3.45%$7M277.4K
7Epr Properties Conv Pfd C 5.75PFD C CV 5.75%3.15%$6M360.3K
8Granite Pt Mtg Tr IncNOTE 6.375%10/02.97%$6M6.04M
9CCICrown Castle Inc Comhistory →COM2.47%$5M33.8K
10PLYMPlymouth INDL REIT Inchistory →COM2.29%$5M269.6K
11HTEURHersha Hospitality Tr Pr Benhistory →PR SHS BEN INT2.12%$4M526.1K
12Apollo Coml Real Estate FinNOTE 5.375%10/11.77%$3M3.59M
13LADRLadder Cap Corp Cl Ahistory →CL A1.76%$3M388.4K
14KennedyWilson Holdings IncCOM1.68%$3M214.5K
15HRHealthcare Realty Trust Inchistory →CL A COM1.59%$3M151.4K
16UEUrban Edge Propertieshistory →COM1.54%$3M228.8K
17Apartment Income Reit CorpCOM1.49%$3M76.2K
18DOCHealthpeak Properties Inchistory →COM1.47%$3M126.8K
19Two Harbors Inventment CorpNOTE 6.250% 1/11.37%$3M3.28M
20UMHUmh Properties Inchistory →COM1.37%$3M167.8K
21STAGStag Industrial Inchistory →COM1.34%$3M93.3K
22BRXBrixmor Property Group Inchistory →COM1.34%$3M143.1K
23BDNBrandywine Realty Trust Newhistory →SH BEN INT NEW1.28%$3M376.7K
24ALEXAlexander Baldwin Inchistory →COM1.21%$2M144.3K
25PECOPhillips Edison Co Inc Commohistory →COMMON STOCK1.14%$2M80.7K
26Veris Residential IncCOM1.04%$2M181.6K
27Braemar Hotels Resorts Inc 55.5 CUM CV PFD B1.00%$2M133.7K
28XLREReal Estate Select Sector SpdrRL EST SEL SEC0.97%$2M53.5K
29PDMPiedmont Office Realty Trust ICOM CL A0.85%$2M159.3K
30ALXAlexanders IncCOM0.74%$1M7.0K
31Corenergy Infrastructure Tr InNOTE 5.875% 8/10.70%$1M1.91M
32Spirit Realty Cap IncCOM NEW0.69%$1M37.9K
33Howard Hughes CorpCOM0.61%$1M22.0K
34RHPRyman Hospitality Properties ICOM0.61%$1M16.5K
35KRGKite Realty Group TrCOM NEW0.61%$1M70.3K
36Physicians Realty TrustCOM0.60%$1M79.0K
37The Necessity Retail Reit IncCOM CLASS A0.59%$1M200.0K
38VNOVornado Realty TrustSH BEN INT0.59%$1M50.4K
39IRTIndependence Realty Trust IncCOM0.52%$1M61.8K
40Lxp Industrial Trust Conv PfdPFD CONV SER C0.50%$998,00020.6K
41HIWHighwoods Properties IncCOM0.50%$988,00036.7K
42STWDStarwood Property Tr IncCOM0.47%$930,00051.1K
43IVTInventrust Properties Corp NewCOM NEW0.41%$812,00038.1K
44PEBPebblebrook Hotel TrCOM0.40%$790,00054.5K
45CCSCentury Communities IncCOM0.39%$769,00018.0K
46Istar IncCOM0.23%$446,00048.3K
47ALCOAlico IncCOM0.18%$363,00012.9K
48FORForestar Group IncCOM0.10%$199,00017.8K
49DRHDiamondrock Hospitality CoCOM0.04%$78,00010.5K
50BHRBraemar Hotels Resorts IncCOM0.02%$45,00010.5K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$74M44May 11, 202613F-HRchanges · EDGAR ↗
Q4 2025$72M41Jan 22, 202613F-HRchanges · EDGAR ↗
Q3 2025$68M34Oct 29, 202513F-HRchanges · EDGAR ↗
Q2 2025$77M29Jul 22, 202513F-HRchanges · EDGAR ↗
Q1 2025$83M29Apr 21, 202513F-HRchanges · EDGAR ↗
Q4 2024$74M32Feb 3, 202513F-HRchanges · EDGAR ↗
Q3 2024$90M33Oct 21, 202413F-HRchanges · EDGAR ↗
Q2 2024$110M40Jul 26, 202413F-HRchanges · EDGAR ↗
Q1 2024$149M39May 1, 202413F-HRchanges · EDGAR ↗
Q4 2023$179M42Jan 24, 202413F-HRchanges · EDGAR ↗
Q3 2023$165M43Oct 30, 202313F-HRchanges · EDGAR ↗
Q2 2023$161M34Aug 7, 202313F-HRchanges · EDGAR ↗
Q1 2023$152M36May 10, 202313F-HRchanges · EDGAR ↗
Q4 2022$183M39Feb 7, 202313F-HRchanges · EDGAR ↗
Q3 2022$198M50Nov 9, 202213F-HRchanges · EDGAR ↗
Q2 2022$239M68Aug 12, 202213F-HRchanges · EDGAR ↗
Q1 2022$318M67May 11, 202213F-HRchanges · EDGAR ↗
Q4 2021$219M43Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$177M37Oct 26, 202113F-HRchanges · EDGAR ↗
Q2 2021$159M36Aug 3, 202113F-HRchanges · EDGAR ↗
Q1 2021$132M36May 5, 202113F-HRchanges · EDGAR ↗
Q4 2020$130M17Feb 3, 202113F-HRchanges · EDGAR ↗
Q3 2020$101M15Nov 5, 202013F-HRchanges · EDGAR ↗
Q2 2020$86M14Jul 22, 202013F-HRchanges · EDGAR ↗
Q1 2020$58M11Apr 28, 202013F-HRchanges · EDGAR ↗
Q4 2019$167M19Feb 5, 202013F-HRchanges · EDGAR ↗
Q3 2019$131M23Nov 6, 201913F-HRchanges · EDGAR ↗
Q2 2019$146M33Jul 31, 201913F-HRchanges · EDGAR ↗
Q1 2019$123M26Apr 26, 201913F-HRchanges · 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 ↗.