LDR Capital Management Portfolio holdings

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.