SEC 13F Intelligence

Managers / Q3 2023 · view latest →

LDR Capital Management LLC

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

Reported Value
$165M
Q3 2023
Positions
43
Filings on Record
29
2019–present window
Filed
Oct 30, 2023
original filing

Summary

Ldr Capital Management LLC reported $165M in U.S.-listed holdings across 43 positions for Q3 2023.

The portfolio is heavily concentrated: BXMT alone accounts for 23.2% of reported value.

Compared with Q2 2023, the fund opened 12 new positions and exited 3.

Portfolio Metrics

Turnover
+13.6%
vs prior filed quarter
Top-10 Concentration
+69.6%
share of reported value
Largest Position
+23.2%
Blackstone Mtg Tr
New / Exited
12 / 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: 76.3%PUBLIC: 15.5%Other: 3.3%ETP: 2.4%Common Stock: 1.5%PRIVATE: 1.0%
  • REIT · 76.3% · $126M
  • PUBLIC · 15.5% · $26M
  • Other · 3.3% · $6M
  • ETP · 2.4% · $4M
  • Common Stock · 1.5% · $2M
  • PRIVATE · 1.0% · $2M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
SBRASABRA HEALTH CARE REIT INCNEW+507.6K507.6K+$7M$7M
HHHHOWARD HUGHES HOLDINGS INCNEW+17.2K17.2K+$1M$1M
PSAPUBLIC STORAGENEW+4.1K4.1K+$1M$1M
WELLWELLTOWER INCNEW+12.6K12.6K+$1M$1M
EQIXEQUINIX INCNEW+1.4K1.4K+$1M$1M
VICIVICI PPTYS INCNEW+34.7K34.7K+$1M$1M
AVBAVALONBAY CMNTYS INCNEW+5.8K5.8K+$995,749$995,749
CCICROWN CASTLE INCNEW+10.7K10.7K+$984,169$984,169

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

Holdings — Q3 2023

42 positions (from 43 filing rows — )
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1BXMTBLACKSTONE MTG TR INChistory →COM CL A23.25%$38M1.76M
2SLGSL GREEN RLTY CORPhistory →COM15.89%$26M702.1K
3EPR PPTYSCONV PFD 9% SR E · PFD C CV 5.75%8.45%$14M630.1K
4SBRASABRA HEALTH CARE REIT INChistory →COM4.29%$7M507.6K
5RLJ LODGING TRCUM CONV PFD A4.26%$7M292.0K
6SPIRIT RLTY CAP INC NEWCOM NEW3.36%$6M165.2K
7HRHEALTHCARE RLTY TRhistory →CL A COM2.77%$5M299.1K
8XLRESELECT SECTOR SPDR TRhistory →RL EST SEL SEC2.43%$4M117.7K
9APARTMENT INCOME REIT CORPCOM2.43%$4M130.5K
10DOCHEALTHPEAK PROPERTIES INChistory →COM2.42%$4M217.1K
11UEURBAN EDGE PPTYShistory →COM2.25%$4M243.5K
12KENNEDY-WILSON HOLDINGS INCCOM2.19%$4M244.5K
13UMHUMH PPTYS INChistory →COM2.14%$4M251.0K
14STAGSTAG INDL INChistory →COM2.00%$3M95.4K
15RPT REALTY7.25 PFD D CONV1.90%$3M61.4K
16BRXBRIXMOR PPTY GROUP INChistory →COM1.82%$3M144.5K
17ALEXALEXANDER & BALDWIN INC NEWhistory →COM1.31%$2M128.7K
18VERIS RESIDENTIAL INCCOM1.16%$2M116.0K
19KRGKITE RLTY GROUP TRhistory →COM NEW1.08%$2M83.1K
20IVTINVENTRUST PPTYS CORPhistory →COM NEW1.04%$2M72.3K
21BDNBRANDYWINE RLTY TRhistory →SH BEN INT NEW1.03%$2M375.2K
22BRAEMAR HOTELS & RESORTS INC5.5 CUM CV PFD B0.97%$2M133.5K
23STWDSTARWOOD PPTY TR INCCOM0.92%$2M78.2K
24LXP INDUSTRIAL TRUSTPFD CONV SER C0.90%$1M33.0K
25PHYSICIANS RLTY TRCOM0.79%$1M106.2K
26HHHHOWARD HUGHES HOLDINGS INCCOM0.77%$1M17.2K
27HTEURHERSHA HOSPITALITY TRPR SHS BEN INT0.70%$1M116.2K
28PSAPUBLIC STORAGECOM0.66%$1M4.1K
29WELLWELLTOWER INCCOM0.63%$1M12.6K
30EQIXEQUINIX INCCOM0.62%$1M1.4K
31VICIVICI PPTYS INCCOM0.61%$1M34.7K
32GNLGLOBAL NET LEASE INCCOM NEW0.61%$1M104.9K
33AVBAVALONBAY CMNTYS INCCOM0.60%$995,7495.8K
34CCICROWN CASTLE INCCOM0.60%$984,16910.7K
35INVHINVITATION HOMES INCCOM0.60%$980,58430.9K
36PLDPROLOGIS INC.COM0.59%$968,5978.6K
37IRTINDEPENDENCE RLTY TR INCCOM0.58%$954,83267.9K
38AMTAMERICAN TOWER CORP NEWCOM0.58%$950,3575.8K
39CCSCENTURY CMNTYS INCCOM0.45%$739,85611.1K
40ALCOALICO INCCOM0.24%$390,92415.7K
41CLDTCHATHAM LODGING TRCOM0.07%$108,14111.3K
42DRHDIAMONDROCK HOSPITALITY COCOM0.05%$84,73310.6K

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 ↗.