LDR Capital Management LLC

Name: LDR Capital Management LLC 13F holdings, Q2 2025
Creator: LDR Capital Management LLC
Published: 2025-07-22

Q2 2026Q1 2026Q4 2025Q3 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 22, 2025), LDR Capital Management LLC reported 21 stock positions worth $43.8 million. Its top holding was Vici Properties (VICI) at 14.1% of the portfolio, followed by Equinix (EQIX, 8.8%) and American Tower (AMT, 7.5%). Compared with Q1 2025, it opened 6 new positions, sold out of 6, added to 6 and reduced 5. The biggest buy was Vici Properties (VICI, shares +84%) and the biggest sale an exit from Rexford Industrial Realty (REXR).

Most Recent 13F: Q2 2026
Location: New York, NY
CIK: 0001566089
Portfolio Value: $43.8M (Q2 2025)
SEC Filing: 0001172661-25-002674 ↗ filed Jul 22, 2025

Holdings Value

Holdings 21 stocks · $43.8M


VICI Vici Properties Inc. filed as VICI PPTYS INC	14.13%	189,938	$6.2M	Add +83.7%
EQIX Equinix Inc.	8.80%	4,849	$3.9M	No change
AMT American Tower Corp.	7.55%	14,960	$3.3M	Reduce -30.5%
ELS Equity Lifestyle Properties	6.44%	45,779	$2.8M	No change
DHC Diversified Healthcare Trust	5.84%	715,076	$2.6M	New
STWD Starwood Property Trust Inc.	5.77%	125,883	$2.5M	Reduce -0.9%
KRG Kite Realty Group Trust	5.71%	110,410	$2.5M	No change
CHCT Community Healthcare Trust I	5.47%	144,129	$2.4M	Add +1.5%
BRX Brixmor Property Group Inc.	5.33%	89,651	$2.3M	Reduce -4.0%
UMH Umh Properties Inc. filed as UMH PPTYS INC	5.29%	138,168	$2.3M	Add +1.2%
DOC Healthpeak Properties Inc.	5.11%	127,868	$2.2M	Add +3.0%
CCI Crown Castle Inc.	4.05%	17,274	$1.8M	New
VRT Vertiv Holdings Co. Class A	2.94%	10,016	$1.3M	Reduce -25.9%
ELME Elme Communities	2.91%	80,207	$1.3M	Add +1.9%
XRN Global Medical REIT Inc.	2.77%	175,106	$1.2M	New
CTO Cto Realty Growth Inc. filed as CTO RLTY GROWTH INC NEW	2.70%	68,600	$1.2M	Add +5.3%
DLR Digital Realty Trust Inc.	2.64%	6,639	$1.2M	Reduce -11.9%
COLD Americold Realty Trust Inc.	2.52%	66,491	$1.1M	New
ARE Alexandria Real Estate Equit	2.14%	12,918	$938K	No change
PECO Phillips Edison & Company Inc.	1.09%	13,675	$479K	New
AHRT Ah Realty Trust Inc. filed as ARMADA HOFFLER PPTYS INC	0.78%	50,000	$344K	New

Other holdings (8): bonds, preferreds, convertibles and warrants · $33.5M (not counted above)

Security	Class	Shares / Principal	Value	Change
EPR PROPERTIES (EPR 9 PERP E)	CONV PFD 9% SR E	279,693	$8.7M	No change
RLJ LODGING TRUST (RLJ 1.95 PERP A)	CUM CONV PFD A	309,137	$7.3M	Reduce -0.3%
EPR PROPERTIES (EPR 5.75 PERP C)	PFD C CV 5.75%	166,844	$4.2M	Reduce -0.0%
PEBBLEBROOK HOTEL TRUST (PEB 6.375 PERP E)	6.375 PFD SER E	195,888	$3.4M	No change
PEBBLEBROOK HOTEL TRUST (PEB 6.3 PERP F)	6.3 CUM PFD SR F	190,424	$3.3M	No change
RITHM PROPERTY TRUST (RPT V9.875 PERP)	9.875 FXD-FLT C	102,052	$2.5M	No change
LXP INDUSTRIAL TRUST (LXP 6.5 PERP C)	PFD CONV SER C	46,541	$2.2M	Add +38.9%
BRAEMAR HOTELS & RESORTS (BHR 5.5 PERP b)	5.5 CUM CV PFD B	134,222	$1.8M	No change

Total filed on the 13F, all lines: $77.3M.

Portfolio Sells Q1 2025 → Q2 2025


REXR Rexford Industrial Realty Inc.	Sold out	0.00%	−9.03
VRE Veris Residential Inc.	Sold out	0.00%	−5.08
ALEX Alexander & Baldwin Inc.	Sold out	0.00%	−4.73
HHH Howard Hughes Holdings Inc.	Sold out	0.00%	−4.60
KW Kennedy-Wilson Holdings Inc.	Sold out	0.00%	−4.20
AMT American Tower Corp.	Reduce -30.5%	7.55%	−1.73
SBRA Sabra Health Care REIT Inc.	Sold out	0.00%	−0.99
BRX Brixmor Property Group Inc.	Reduce -4.0%	5.33%	+0.42
DLR Digital Realty Trust Inc.	Reduce -11.9%	2.64%	+0.50
STWD Starwood Property Trust Inc.	Reduce -0.9%	5.77%	+0.79
VRT Vertiv Holdings Co. Class A	Reduce -25.9%	2.94%	+1.00

Portfolio Buys Q1 2025 → Q2 2025


VICI Vici Properties Inc.	Add +83.7%	14.13%	+7.45
DHC Diversified Healthcare Trust	New	5.84%	+5.84
CCI Crown Castle Inc.	New	4.05%	+4.05
XRN Global Medical REIT Inc.	New	2.77%	+2.77
COLD Americold Realty Trust Inc.	New	2.52%	+2.52
PECO Phillips Edison & Company Inc.	New	1.09%	+1.09
AHRT Ah Realty Trust Inc.	New	0.78%	+0.78
CHCT Community Healthcare Trust I	Add +1.5%	5.47%	+0.36
UMH Umh Properties Inc.	Add +1.2%	5.29%	+0.24
CTO Cto Realty Growth Inc.	Add +5.3%	2.70%	+0.21
ELME Elme Communities	Add +1.9%	2.91%	+0.20
DOC Healthpeak Properties Inc.	Add +3.0%	5.11%	+0.14

Notes & Other Activity Q1 2025 → Q2 2025


RLJ LODGING TRUST (RLJ 1.95 PERP A)	CUM CONV PFD A	Reduce -0.3%	309,137	$7.3M
EPR PROPERTIES (EPR 5.75 PERP C)	PFD C CV 5.75%	Reduce -0.0%	166,844	$4.2M
LXP INDUSTRIAL TRUST (LXP 6.5 PERP C)	PFD CONV SER C	Add +38.9%	46,541	$2.2M

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	38	$62.7M	EQIX, DLR, CCI, SPG, SLG
Q1 2026	37	$51.2M	EQIX, AMT, PLD, ELS, WELL
Q4 2025	34	$46.0M	CCI, DLR, PLD, AMT, SUI
Q3 2025	26	$36.7M	VICI, EQIX, AMT, ELS, DHC
Q2 2025	21	$43.8M	VICI, EQIX, AMT, ELS, DHC
Q1 2025	21	$50.5M	AMT, REXR, EQIX, VICI, ELS
Q4 2024	27	$52.2M	EQIX, STWD, KRG, AMT, VICI
Q3 2024	27	$60.5M	HR, DOC, KRG, UMH, KW
Q2 2024	34	$82.6M	SLG, SBRA, HR, DOC, UE
Q1 2024	33	$121.8M	BXMT, SLG, SBRA, DOC, HR