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LCM

LDR Capital Management Portfolio holdings

AUM $86.7M
1-Year Est. Return 16.32%
This Fund
S&P 500
This Quarter Est. Return
-5.6%
1 Year Est. Return
+16.32%
3 Year Est. Return
+38.89%
5 Year Est. Return
+1.57%
10 Year Est. Return
AUM
$88.8M
AUM Growth
-$34M
Cap. Flow
-$28.6M
Cap. Flow %
-32.17%
Top 10 Hldgs %
81.23%
Holding
21
New
1
Increased
9
Reduced
7
Closed
4
Name Market Value Portfolio Weight Shares or Principal Change
in Stake
Capital Flow
EPR.PRC icon
1
EPR Properties 5.75% Series C Preferred Shares
EPR.PRC
$146M
$16.7M 18.75%
619,088
-13,108
-2% -$370K
QTS.PRB
2
DELISTED
QTS Realty Trust, Inc. 6.50% Series B Cumulative Convertible Perpetual Preferred Stock
QTS.PRB
$8.28M 9.32%
87,836
+9,066
+12% +$907K
CCI.PRA
3
DELISTED
Crown Castle International Corp. 6.875% Mandatory Convertible Preferred Stock, Series A
CCI.PRA
$7.66M 8.62%
7,281
+3,289
+82% +$3.47M
DLR icon
4
Digital Realty Trust
DLR
$68.8B
$7.63M 8.59%
71,644
-8
-0% -$884
SUI icon
5
Sun Communities
SUI
$15B
$7.52M 8.46%
73,921
+5,991
+9% +$610K
ARE.PRD
6
DELISTED
Alexandria Real Estate Equities Inc 7.00% Series D Preferred Stock
ARE.PRD
$6.56M 7.38%
195,362
+29,744
+18% +$1.01M
TRTX
7
TPG RE Finance Trust
TRTX
$593M
$5.75M 6.47%
314,436
+60,736
+24% +$1.19M
CCI icon
8
Crown Castle
CCI
$32.4B
$4.48M 5.05%
41,274
+8,995
+28% +$988K
BHR.PRB
9
Braemar Hotels & Resorts 5.50% Series B Preferred Stock
BHR.PRB
$49.4M
$3.83M 4.31%
223,206
+88,544
+66% +$1.54M
RLJ.PRA icon
10
RLJ Lodging Trust $1.95 Series A Preferred Stock
RLJ.PRA
$327M
$3.79M 4.26%
152,866
-52,899
-26% -$1.34M
APTS
11
DELISTED
Preferred Apartment Communities, Inc.
APTS
$3.54M 3.98%
251,618
-71,652
-22% -$1.12M
EPR.PRE icon
12
EPR Properties 9.00% Series E Preferred Shares
EPR.PRE
$111M
$3.46M 3.89%
101,651
+11,196
+12% +$397K
BXMT icon
13
Blackstone Mortgage Trust
BXMT
$2.31B
$3.23M 3.63%
101,300
-495,000
-83% -$16.8M
FR icon
14
First Industrial Realty Trust
FR
$8.21B
$2.66M 2.99%
92,106
-100,028
-52% -$3.09M
LXP.PRC icon
15
LXP Industrial Trust 6.5% Series C Preferred Stock
LXP.PRC
$95.1M
$2.22M 2.5%
45,089
+31,741
+238% +$1.54M
ILPT
16
Industrial Logistics Properties Trust
ILPT
$557M
$1.08M 1.22%
54,994
-188,335
-77% -$4.02M
UBP.PRG.CL
17
DELISTED
Urstadt Biddle Properties Inc. 6.75% Series G Cumulative Redeemable Preferred Stock, liquidation pre
UBP.PRG.CL
$492K 0.55%
+20,000
New +$494K
WHLRD
18
Wheeler Real Estate Investment Trust Series D Preferred Stock
WHLRD
$64.9M
-90,157
Closed -$1.89M
WHLRP
19
Wheeler Real Estate Investment Trust Preferred Stock
WHLRP
$8.73M
-86,437
Closed -$1.61M
RPT.PRD
20
DELISTED
RPT Realty 7.25% Series D Cumulative Convertible Perpetual Preferred Shares of Beneficial Interest
RPT.PRD
-112,746
Closed -$6.07M
MGP
21
DELISTED
MGM Growth Properties LLC Class A common shares representing limited liability company interests
MGP
-151,000
Closed -$4.45M

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LDR Capital Management's Q4 2018 Portfolio in Review

As of Q4 2018, LDR Capital Management held 21 positions worth $88.8M, down 28% from $123M the previous quarter. Its ten largest holdings account for 81% of the portfolio.

LDR Capital Management withdrew a net $28.6M in Q4 2018, closing 4 positions and reducing 7 holdings. Its most notable exit was RPT Realty 7.25% Series D Cumulative Convertible Perpetual Preferred Shares of Beneficial Interest, an estimated $6.07M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 61% of assets, up from 51% a quarter earlier, followed by Real Estate.

Against the trend, LDR Capital Management opened a new position in Urstadt Biddle Properties Inc. 6.75% Series G Cumulative Redeemable Preferred Stock, liquidation pre worth $492K.

  • LDR Capital Management's largest Q4 2018 buy was Urstadt Biddle Properties Inc. 6.75% Series G Cumulative Redeemable Preferred Stock, liquidation pre: 20,000 shares worth $492K.
  • LDR Capital Management added most to Crown Castle International Corp. 6.875% Mandatory Convertible Preferred Stock, Series A in Q4 2018, an estimated $3.47M increase.
  • LDR Capital Management's biggest Q4 2018 reduction was Blackstone Mortgage Trust, cutting an estimated $16.8M.
  • LDR Capital Management fully exited RPT Realty 7.25% Series D Cumulative Convertible Perpetual Preferred Shares of Beneficial Interest in Q4 2018, selling an estimated $6.07M.
  • LDR Capital Management's ten largest holdings make up 81% of its $88.8M portfolio in Q4 2018.
  • LDR Capital Management opened 1 new position and closed 4 in Q4 2018.
  • LDR Capital Management's portfolio value fell 28% quarter-over-quarter to $88.8M.

Based on LDR Capital Management's 13F filing for Q4 2018, filed 28 Jan 2019.