Q1 2026 Holdings
Filed 2026-05-08 | 20 holdings | $178.8M | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Pennymac Corp | NOTE 8.500% 6/0 | 70932AAH6 | $61.6M | $59,319,000 | 34.5% |
| Camden Ppty TR(CPT) | SH BEN INT | 133131102 | $12.9M | 131,704 | 7.2% |
| Avalonbay Cmntys Inc(AVB) | COM | 053484101 | $12.3M | 75,150 | 6.9% |
| Apple Hospitality REIT Inc(APLE) | COM NEW | 03784Y200 | $10.8M | 935,516 | 6.0% |
| Rithm Capital Corp(RITM) | COM NEW | 64828T201 | $9.7M | 1,026,404 | 5.4% |
| Millrose Pptys Inc(MRP) | COM CL A | 601137102 | $9.1M | 325,046 | 5.1% |
| Brightspire Capital Inc(BRSP) | COM CL A | 10949T109 | $8.2M | 1,472,790 | 4.6% |
| Ready Capital Corp(RC) | COM | 75574U101 | $6.3M | 3,908,983 | 3.5% |
| Park Hotels & Resorts Inc(PK) | COM | 700517105 | $6.1M | 581,643 | 3.4% |
| American Assets TR Inc(AAT) | COM | 024013104 | $5.1M | 279,323 | 2.9% |
| Inventrust Pptys Corp(IVT) | COM NEW | 46124J201 | $5.0M | 164,962 | 2.8% |
| Vornado Rlty TR(VNO) | SH BEN INT | 929042109 | $4.4M | 170,500 | 2.5% |
| Diamondrock Hospitality Co(DRH) | COM | 252784301 | $3.9M | 417,789 | 2.2% |
| Dynex Cap Inc(DX) | COM | 26817Q886 | $3.8M | 295,000 | 2.1% |
| Global NET Lease Inc(GNL) | COM NEW | 379378201 | $3.7M | 397,609 | 2.1% |
| Empire ST Rlty TR Inc(ESRT) | CL A | 292104106 | $3.7M | 714,535 | 2.1% |
| Rithm Ppty TR Inc | 9.875 FXD-FLT C | 38983D862 | $3.5M | $139,481 | 1.9% |
| KKR Real Estate FIN TR Inc(KREF) | COM | 48251K100 | $3.1M | 475,154 | 1.7% |
| Redwood Trust Inc | NOTE 7.750% 6/1 | 758075AF2 | $2.8M | $2,743,000 | 1.6% |
| Lineage Inc(LINE) | COM | 53566V106 | $2.7M | 83,600 | 1.5% |