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LCM
LDR Capital Management Portfolio holdings
AUM
$74.4M
1-Year Est. Return
7.16%
This Fund
S&P 500
This Quarter
Est. Return
-12.13%
1 Year Est. Return
+7.16%
3 Year Est. Return
+37.07%
5 Year Est. Return
-1.75%
10 Year Est. Return
–
AUM
$198M
AUM Growth
-$41M
(-17%)
Cap. Flow
-$25.7M
Cap. Flow
% of AUM
-12.99%
Top 10 Holdings %
Top 10 Hldgs %
64.15%
Holding
72
New
3
Increased
21
Reduced
21
Closed
22
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Blackstone Mortgage Trust
BXMT
|
+$7.02M |
| 2 |
EPR Properties 9.00% Series E Preferred Shares
EPR.PRE
|
+$4.35M |
| 3 |
State Street Real Estate Select Sector SPDR ETF
XLRE
|
+$2.24M |
| 4 |
RTL
The Necessity Retail REIT, Inc. Class A Common Stock
RTL
|
+$1.48M |
| 5 |
LADR
Ladder Capital
LADR
|
+$1.17M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Ventas
VTR
|
+$9.44M |
| 2 |
Global Net Lease
GNL
|
+$6.17M |
| 3 |
CTT
CATCHMARK TIMBER TRUST, INC.
CTT
|
+$3.98M |
| 4 |
EPR Properties 5.75% Series C Preferred Shares
EPR.PRC
|
+$2.43M |
| 5 |
ACC
American Campus Communities, Inc.
ACC
|
+$1.77M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 73.53% |
| 2 | Consumer Staples | 0.18% |
| 3 | Consumer Discretionary | 0% |
| 4 | Financials | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
PDM
26
Piedmont Realty Trust
PDM
$1.21B
| $1.68M | 0.85% |
159,296
+40,196
| +34% | +$505K |
|
|
ALX
27
Alexander's
ALX
$1.4B
| $1.46M | 0.74% |
6,981
-45
| -0.6% | -$10.6K |
|
|
SRC
28
DELISTED
SPIRIT REALTY CAPITAL, INC.
SRC
| $1.37M | 0.69% |
37,893
-8,412
| -18% | -$349K |
|
29
Howard Hughes
HHH
$3.91B
| $1.22M | 0.61% |
23,029
+2,385
| +12% | +$153K |
|
30
Ryman Hospitality Properties
RHP
$8.09B
| $1.21M | 0.61% |
16,464
-2,836
| -15% | -$237K |
|
31
Kite Realty
KRG
$5.59B
| $1.21M | 0.61% |
70,299
+46,965
| +201% | +$900K |
|
|
DOC
32
DELISTED
PHYSICIANS REALTY TRUST
DOC
| $1.19M | 0.6% |
78,953
+16,453
| +26% | +$278K |
|
|
RTL
33
DELISTED
The Necessity Retail REIT, Inc. Class A Common Stock
RTL
| $1.18M | 0.59% |
+200,000
| New | +$1.48M |
|
34
Vornado Realty Trust
VNO
$7.7B
| $1.17M | 0.59% |
50,364
+3,464
| +7% | +$96.6K |
|
35
Independence Realty Trust
IRT
$4.02B
| $1.03M | 0.52% |
61,811
+10,111
| +20% | +$205K |
|
36
LXP Industrial Trust 6.5% Series C Preferred Stock
LXP.PRC
$94.5M
| $998K | 0.5% |
20,628
+866
| +4% | +$45.4K |
|
37
Highwoods Properties
HIW
$3.64B
| $988K | 0.5% |
36,653
-25,869
| -41% | -$836K |
|
38
Starwood Property Trust
STWD
$6.03B
| $930K | 0.47% |
51,067
-10,733
| -17% | -$243K |
|
39
InvenTrust Properties
IVT
$2.66B
| $812K | 0.41% |
38,100
-19,400
| -34% | -$515K |
|
40
Pebblebrook Hotel Trust
PEB
$2.15B
| $790K | 0.4% |
54,452
-7,043
| -11% | -$127K |
|
41
Century Communities
CCS
$2B
| $769K | 0.39% |
17,983
-5,835
| -24% | -$283K |
|
|
SAFE
42
Safehold
SAFE
$1.16B
| $446K | 0.23% |
9,912
-5,291
| -35% | -$367K |
|
43
Alico
ALCO
$283M
| $363K | 0.18% |
+12,870
| New | +$435K |
|
44
Forestar Group
FOR
$1.5B
| $199K | 0.1% |
17,816
-56,386
| -76% | -$747K |
|
45
Diamondrock Hospitality Co
DRH
$2.72B
| $78K | 0.04% |
10,456
-43,396
| -81% | -$382K |
|
|
BHR
46
Braemar Hotels & Resorts
BHR
$144M
| $45K | 0.02% |
10,517
-51,717
| -83% | -$262K |
|
|
AHRT
47
AH Realty Trust
AHRT
$539M
| – | – |
-33,783
| Closed | -$434K |
|
48
Acadia Realty Trust
AKR
$2.97B
| – | – |
-24,524
| Closed | -$383K |
|
|
BRT
49
BRT Apartments
BRT
$268M
| – | – |
-11,757
| Closed | -$253K |
|
50
Boston Properties
BXP
$11.3B
| – | – |
-4,300
| Closed | -$383K |
|
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LDR Capital Management's Q3 2022 Portfolio in Review
As of Q3 2022, LDR Capital Management held 72 positions worth $198M, down 17% from $239M the previous quarter. Its ten largest holdings account for 64% of the portfolio.
LDR Capital Management withdrew a net $25.7M in Q3 2022, closing 22 positions and reducing 21 holdings. Its most notable exit was Ventas, an estimated $9.44M position sold in full.
By sector, the portfolio is most concentrated in Real Estate at 74% of assets, down from 78% a quarter earlier, followed by Consumer Staples and Consumer Discretionary.
Against the trend, LDR Capital Management opened a new position in State Street Real Estate Select Sector SPDR ETF worth $1.93M.
- LDR Capital Management's largest Q3 2022 buy was State Street Real Estate Select Sector SPDR ETF: 53,519 shares worth $1.93M.
- LDR Capital Management added most to Blackstone Mortgage Trust in Q3 2022, an estimated $7.02M increase.
- LDR Capital Management's biggest Q3 2022 reduction was EPR Properties 5.75% Series C Preferred Shares, cutting an estimated $2.43M.
- LDR Capital Management fully exited Ventas in Q3 2022, selling an estimated $9.44M.
- LDR Capital Management's ten largest holdings make up 64% of its $198M portfolio in Q3 2022.
- LDR Capital Management opened 3 new positions and closed 22 in Q3 2022.
- LDR Capital Management's portfolio value fell 17% quarter-over-quarter to $198M.
Based on LDR Capital Management's 13F filing for Q3 2022, filed 9 Nov 2022.