SEC 13F Intelligence

Managers / Q4 2023 · view latest →

LDR Capital Management LLC

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

Reported Value
$179M
Q4 2023
Positions
42
Filings on Record
29
2019–present window
Filed
Jan 24, 2024
original filing

Summary

Ldr Capital Management LLC reported $179M in U.S.-listed holdings across 42 positions for Q4 2023.

The portfolio is heavily concentrated: BXMT alone accounts for 21.3% of reported value.

Compared with Q3 2023, the fund opened 2 new positions and exited 3.

Portfolio Metrics

Turnover
+5.6%
vs prior filed quarter
Top-10 Concentration
+68.5%
share of reported value
Largest Position
+21.3%
Blackstone Mtg Tr
New / Exited
2 / 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: 74.1%PUBLIC: 15.6%Other: 3.4%ETP: 3.0%Common Stock: 2.8%PRIVATE: 1.1%
  • REIT · 74.1% · $133M
  • PUBLIC · 15.6% · $28M
  • Other · 3.4% · $6M
  • ETP · 3.0% · $5M
  • Common Stock · 2.8% · $5M
  • PRIVATE · 1.1% · $2M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
BROOKFIELD INFRASTRUCTURE CONEW+38.6K38.6K+$1M$1M
CBRECBRE GROUP INCNEW+9.4K9.4K+$870,578$870,578
SPIRIT RLTY CAP INC NEWSOLD OUT−165.2K0−$6M$0
HTEURHERSHA HOSPITALITY TRSOLD OUT−116.2K0−$1M$0
WELLWELLTOWER INCSOLD OUT−12.6K0−$1M$0
PLDPROLOGIS INC.ADDED+6.0K14.7K+$987,980$2M
CCICROWN CASTLE INCADDED+7.4K18.1K+$1M$2M
INVHINVITATION HOMES INCADDED+20.1K51.0K+$759,162$2M

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

Holdings — Q4 2023

41 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1BXMTBLACKSTONE MTG TR INChistory →COM CL A21.35%$38M1.80M
2SLGSL GREEN RLTY CORPhistory →COM17.72%$32M702.1K
3EPR PPTYSCONV PFD 9% SR E · PFD C CV 5.75%8.77%$16M638.0K
4RLJ LODGING TRCUM CONV PFD A4.08%$7M291.8K
5SBRASABRA HEALTH CARE REIT INChistory →COM3.47%$6M434.7K
6XLRESELECT SECTOR SPDR TRhistory →RL EST SEL SEC2.99%$5M133.7K
7HRHEALTHCARE RLTY TRhistory →CL A COM2.85%$5M296.5K
8DOCHEALTHPEAK PROPERTIES INChistory →COM2.55%$5M230.4K
9UEURBAN EDGE PPTYShistory →COM2.39%$4M233.8K
10APARTMENT INCOME REIT CORPCOM2.33%$4M119.8K
11UMHUMH PPTYS INChistory →COM2.15%$4M251.0K
12KENNEDY-WILSON HOLDINGS INCCOM2.08%$4M301.3K
13BRXBRIXMOR PPTY GROUP INChistory →COM1.88%$3M144.5K
14STAGSTAG INDL INChistory →COM1.71%$3M77.8K
15RPT REALTY7.25 PFD D CONV1.66%$3M52.1K
16VERIS RESIDENTIAL INCCOM1.34%$2M152.1K
17STWDSTARWOOD PPTY TR INChistory →COM1.29%$2M109.9K
18ALEXALEXANDER & BALDWIN INC NEWhistory →COM1.19%$2M112.0K
19CCICROWN CASTLE INChistory →COM1.17%$2M18.1K
20PSAPUBLIC STORAGEhistory →COM1.14%$2M6.7K
21BRAEMAR HOTELS & RESORTS INC5.5 CUM CV PFD B1.11%$2M142.8K
22PLDPROLOGIS INC.history →COM1.09%$2M14.7K
23AMTAMERICAN TOWER CORP NEWhistory →COM1.09%$2M9.0K
24LXP INDUSTRIAL TRUSTPFD CONV SER C1.08%$2M40.1K
25KRGKITE RLTY GROUP TRhistory →COM NEW1.06%$2M83.1K
26VICIVICI PPTYS INChistory →COM1.01%$2M56.9K
27EQIXEQUINIX INChistory →COM1.00%$2M2.2K
28AVBAVALONBAY CMNTYS INCCOM0.99%$2M9.5K
29INVHINVITATION HOMES INCCOM0.97%$2M51.0K
30BDNBRANDYWINE RLTY TRSH BEN INT NEW0.88%$2M290.2K
31HHHHOWARD HUGHES HOLDINGS INCCOM0.82%$1M17.2K
32PHYSICIANS RLTY TRCOM0.79%$1M105.7K
33BROOKFIELD INFRASTRUCTURE COCOM SB VTG SHS A0.76%$1M38.6K
34IVTINVENTRUST PPTYS CORPCOM NEW0.75%$1M53.1K
35IRTINDEPENDENCE RLTY TR INCCOM0.64%$1M75.3K
36GNLGLOBAL NET LEASE INCCOM NEW0.55%$977,08098.2K
37CBRECBRE GROUP INCCL A0.49%$870,5789.4K
38CCSCENTURY CMNTYS INCCOM0.40%$710,3457.8K
39ALCOALICO INCCOM0.29%$511,11017.6K
40CLDTCHATHAM LODGING TRCOM0.07%$121,13611.3K
41DRHDIAMONDROCK HOSPITALITY COCOM0.06%$99,08310.6K

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 ↗.