LDR Capital Management LLC In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 22, 2026), LDR Capital Management LLC reported 34 stock positions worth $46.0 million . Its top holding was Crown Castle (CCI) at 9.1% of the portfolio, followed by Digital Realty Trust (DLR, 8.0% ) and Prologis (PLD, 6.5% ). Compared with Q3 2025, it opened 15 new positions, sold out of 7, added to 7 and reduced 12. The biggest buy was Digital Realty Trust (DLR, shares +764% ) and the biggest sale Vici Properties (VICI, shares −63% ).
Location New York, NY
CIK 0001566089
Portfolio Value $46.0M (Q4 2025) Holdings 34 stocks · $46.0M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q3 2025 CCI Crown Castle Inc. 47,072 $4.2M Add +317.1% DLR Digital Realty Trust Inc. 23,918 $3.7M Add +764.1% PLD Prologis Inc. 23,448 $3.0M Add +222.3% AMT American Tower Corp. 15,497 $2.7M Reduce -19.9% SUI Sun Communities Inc. filed as SUN CMNTYS INC 20,871 $2.6M New EQIX Equinix Inc. 3,325 $2.5M Reduce -32.8% GLPI Gaming and Leisure Propertie 53,519 $2.4M New WELL Welltower Inc. 10,830 $2.0M New SPG Simon Property Group Inc. 9,861 $1.8M Add +123.2% VTR Ventas Inc. 22,562 $1.7M New VICI Vici Properties Inc. filed as VICI PPTYS INC 59,012 $1.7M Reduce -62.6% O Realty Income Corp. 29,285 $1.7M Add +117.6% ESS Essex Property Trust Inc. 5,852 $1.5M Add +120.8% DHC Diversified Healthcare Trust 269,794 $1.3M Reduce -42.4% IRM Iron Mountain Inc. filed as IRON MTN INC DEL 15,160 $1.3M Add +36.9% CHCT Community Healthcare Trust I 75,825 $1.2M Reduce -27.7% VRT Vertiv Holdings Co. Class A 7,301 $1.2M Reduce -22.1% UMH Umh Properties Inc. filed as UMH PPTYS INC 70,859 $1.1M Reduce -29.6% PSA Public Storage 4,306 $1.1M New CTO Cto Realty Growth Inc. filed as CTO RLTY GROWTH INC NEW 60,631 $1.1M Reduce -13.1% FTAI Ftai Aviation Ltd. 4,664 $918K Reduce -29.4% EXR Extra Space Storage Inc. 6,847 $892K New INVH Invitation Homes Inc. 27,047 $752K New BRX Brixmor Property Group Inc. 22,590 $592K Reduce -63.4% EGP Eastgroup Properties Inc. 3,026 $539K New STWD Starwood Property Trust Inc. 22,851 $412K Reduce -11.0% SBAC SBA Communications Corp. 2,005 $388K New SLG SL Green Realty Corp. 7,142 $328K New XRN Chiron Real Estate Inc. filed as GLOBAL MED REIT INC 7,043 $238K Reduce -52.6% PMT Pennymac Mortgage Investment 18,887 $237K New WY Weyerhaeuser Co. 9,044 $214K New AVB Avalonbay Communities Inc. 1,155 $209K New MAC The Macerich Co. 11,276 $208K New HST Host Hotels & Resorts Inc. 11,555 $205K New
Other holdings (7): bonds, preferreds, convertibles and warrants · $26.1M (not counted above) Total filed on the 13F, all lines: $72.2M.
Portfolio Sells Q3 2025 → Q4 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2025 % Of Portfolio Change To Portfolio ▲ VICI Vici Properties Inc. Reduce -62.6% 3.60% −10.41 ELS Equity Lifestyle Properties Sold out 0.00% −7.57 EQIX Equinix Inc. Reduce -32.8% 5.53% −5.02 AMT American Tower Corp. Reduce -19.9% 5.91% −4.23 BRX Brixmor Property Group Inc. Reduce -63.4% 1.29% −3.37 CZR Caesars Entertainment Inc. Sold out 0.00% −3.19 DHC Diversified Healthcare Trust Reduce -42.4% 2.84% −2.78 ARR Armour Residential REIT Inc. Sold out 0.00% −2.42 FIP Ftai Infrastructure Inc. Sold out 0.00% −1.76 CHCT Community Healthcare Trust I Reduce -27.7% 2.70% −1.67 UMH Umh Properties Inc. Reduce -29.6% 2.45% −1.63 KRG Kite Realty Group Trust Sold out 0.00% −1.40 DOC Healthpeak Properties Inc. Sold out 0.00% −1.30 VRT Vertiv Holdings Co. Class A Reduce -22.1% 2.57% −1.28 FTAI Ftai Aviation Ltd. Reduce -29.4% 1.99% −1.01 XRN Chiron Real Estate Inc. Reduce -52.6% 0.52% −0.85 CTO Cto Realty Growth Inc. Reduce -13.1% 2.42% −0.67 STWD Starwood Property Trust Inc. Reduce -11.0% 0.89% −0.46 CDZI Cadiz Inc. Sold out 0.00% −0.19
Portfolio Buys Q3 2025 → Q4 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2025 % Of Portfolio Change To Portfolio ▼ DLR Digital Realty Trust Inc. Add +764.1% 8.04% +6.73 CCI Crown Castle Inc. Add +317.1% 9.09% +6.12 SUI Sun Communities Inc. New 5.62% +5.62 GLPI Gaming and Leisure Propertie New 5.20% +5.20 WELL Welltower Inc. New 4.37% +4.37 PLD Prologis Inc. Add +222.3% 6.50% +4.23 VTR Ventas Inc. New 3.79% +3.79 PSA Public Storage New 2.43% +2.43 EXR Extra Space Storage Inc. New 1.94% +1.94 SPG Simon Property Group Inc. Add +123.2% 3.97% +1.71 INVH Invitation Homes Inc. New 1.63% +1.63 ESS Essex Property Trust Inc. Add +120.8% 3.33% +1.39 O Realty Income Corp. Add +117.6% 3.59% +1.36 EGP Eastgroup Properties Inc. New 1.17% +1.17 SBAC SBA Communications Corp. New 0.84% +0.84 SLG SL Green Realty Corp. New 0.71% +0.71 PMT Pennymac Mortgage Investment New 0.51% +0.51 WY Weyerhaeuser Co. New 0.47% +0.47 AVB Avalonbay Communities Inc. New 0.45% +0.45 MAC The Macerich Co. New 0.45% +0.45 HST Host Hotels & Resorts Inc. New 0.45% +0.45 IRM Iron Mountain Inc. Add +36.9% 2.73% −0.34
Notes & Other Activity Q3 2025 → Q4 2025 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