SEC 13F Intelligence

Managers / Q2 2023 · view latest →

LDR Capital Management LLC

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

Reported Value
$161M
Q2 2023
Positions
34
Filings on Record
29
2019–present window
Filed
Aug 7, 2023
original filing

Summary

Ldr Capital Management LLC reported $161M in U.S.-listed holdings across 34 positions for Q2 2023.

The portfolio is heavily concentrated: BXMT alone accounts for 22.5% of reported value.

Compared with Q1 2023, the fund opened 1 new position and exited 3.

Portfolio Metrics

Turnover
+5.1%
vs prior filed quarter
Top-10 Concentration
+72.9%
share of reported value
Largest Position
+22.5%
Blackstone Mtg Tr
New / Exited
1 / 3
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: 66.5%PUBLIC: 24.5%Other: 3.9%ETP: 2.2%Common Stock: 1.7%PRIVATE: 1.2%
  • REIT · 66.5% · $107M
  • PUBLIC · 24.5% · $39M
  • Other · 3.9% · $6M
  • ETP · 2.2% · $4M
  • Common Stock · 1.7% · $3M
  • PRIVATE · 1.2% · $2M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
READY CAPITAL CORPNEW+22.5K22.5K+$564,070$564,070
STWDSTARWOOD PPTY TR INCADDED+55.0K78.2K+$1M$2M
PECOPHILLIPS EDISON & CO INCSOLD OUT−34.6K0−$1M$0
RHPRYMAN HOSPITALITY PPTYS INCSOLD OUT−12.4K0−$1M$0
ALXALEXANDERS INCSOLD OUT−5.3K0−$1M$0
GLPIGAMING & LEISURE PPTYS INCTRIMMED−51.9K62.6K−$3M$3M
CCSCENTURY CMNTYS INCTRIMMED−5.5K13.7K−$177,837$1M
DOCHEALTHPEAK PROPERTIES INCADDED+35.4K193.3K+$415,756$4M

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

Holdings — Q2 2023

33 positions (from 34 filing rows — )
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1BXMTBLACKSTONE MTG TR INChistory →COM CL A22.51%$36M1.74M
2SLGSL GREEN RLTY CORPhistory →COM12.91%$21M690.6K
3EPR PPTYSCONV PFD 9% SR E · PFD C CV 5.75%9.69%$16M631.2K
4RPT REALTY7.25 PFD D CONV9.28%$15M304.5K
5RLJ LODGING TRCUM CONV PFD A4.38%$7M292.0K
6SPIRIT RLTY CAP INC NEWCOM NEW4.04%$6M164.8K
7HRHEALTHCARE RLTY TRhistory →CL A COM2.83%$5M240.8K
8KENNEDY-WILSON HOLDINGS INCCOM2.45%$4M241.2K
9UEURBAN EDGE PPTYShistory →COM2.44%$4M254.2K
10DOCHEALTHPEAK PROPERTIES INChistory →COM2.42%$4M193.3K
11APARTMENT INCOME REIT CORPCOM2.33%$4M103.8K
12XLRESELECT SECTOR SPDR TRhistory →RL EST SEL SEC2.21%$4M94.3K
13UMHUMH PPTYS INChistory →COM2.18%$3M218.9K
14STAGSTAG INDL INChistory →COM2.13%$3M95.4K
15BRXBRIXMOR PPTY GROUP INChistory →COM2.04%$3M148.9K
16GLPIGAMING & LEISURE PPTYS INChistory →COM1.89%$3M62.6K
17ALEXALEXANDER & BALDWIN INC NEWhistory →COM1.49%$2M128.7K
18VERIS RESIDENTIAL INCCOM1.47%$2M147.3K
19KRGKITE RLTY GROUP TRhistory →COM NEW1.21%$2M87.1K
20BRAEMAR HOTELS & RESORTS INC5.5 CUM CV PFD B1.16%$2M133.5K
21BDNBRANDYWINE RLTY TRhistory →SH BEN INT NEW1.09%$2M375.2K
22IVTINVENTRUST PPTYS CORPhistory →COM NEW1.04%$2M72.3K
23STWDSTARWOOD PPTY TR INCCOM0.94%$2M78.2K
24PHYSICIANS RLTY TRCOM0.92%$1M106.2K
25LXP INDUSTRIAL TRUSTPFD CONV SER C0.84%$1M27.2K
26HOWARD HUGHES CORPCOM0.81%$1M16.5K
27IRTINDEPENDENCE RLTY TR INCCOM0.70%$1M61.7K
28HTEURHERSHA HOSPITALITY TRPR SHS BEN INT0.70%$1M183.8K
29GNLGLOBAL NET LEASE INCCOM NEW0.66%$1M102.9K
30CCSCENTURY CMNTYS INCCOM0.65%$1M13.7K
31READY CAPITAL CORP7% CN SR NT 20230.35%$564,07022.5K
32ALCOALICO INCCOM0.20%$327,67012.9K
33DRHDIAMONDROCK HOSPITALITY COCOM0.05%$84,52210.6K

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 ↗.