# Orinda Asset Management LLC

> Institutional holdings reported to the SEC as of Q3 2020 on Form 13F. CIK 1502631. Source: https://holderbook.com/funds/1502631-orinda-asset-management-llc/

- Reported value: $48.7M
- Positions: 38
- Weight of the ten largest: 59.7%
- Filed: 2020-10-20

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| RLJ LODGING TR | [RLJPRA](https://holderbook.com/stocks/RLJPRA/) | $5.3M | 229,792 | 10.8% | 4 |
| ARBOR REALTY TRUST INC | [ABR](https://holderbook.com/stocks/ABR/) | $3.7M | 325,000 | 7.6% | 8 |
| BLACKSTONE MORTGAGE TRUST IN | [BXMT](https://holderbook.com/stocks/BXMT/) | $3.3M | 148,300 | 6.7% | 8 |
| WP CAREY INC | [WPC](https://holderbook.com/stocks/WPC/) | $3.0M | 45,300 | 6.1% | 3 |
| STAG INDUSTRIAL INC | [STAG](https://holderbook.com/stocks/STAG/) | $2.8M | 92,066 | 5.8% | 5 |
| SABRA HEALTH CARE REIT INC | [SBRA](https://holderbook.com/stocks/SBRA/) | $2.8M | 199,797 | 5.6% | 4 |
| ANNALY CAPITAL MANAGEMENT IN | [NLYXXXX](https://holderbook.com/stocks/NLYXXXX/) | $2.7M | 380,000 | 5.6% | 5 |
| AGNC INVT CORP | [AGNC](https://holderbook.com/stocks/AGNC/) | $2.1M | 150,000 | 4.3% | 2 |
| STARWOOD PPTY TR INC | [STWD](https://holderbook.com/stocks/STWD/) | $1.8M | 117,500 | 3.6% | 8 |
| DIGITAL RLTY TR INC | [DLR](https://holderbook.com/stocks/DLR/) | $1.7M | 11,885 | 3.6% | 2 |
| QTS RLTY TR INC | [QTS](https://holderbook.com/stocks/QTS/) | $1.7M | 27,000 | 3.5% | 2 |
| TPG RE FIN TR INC | [TRTX](https://holderbook.com/stocks/TRTX/) | $1.6M | 190,000 | 3.3% | 4 |
| APOLLO COML REAL ESTATE FIN | [ARI](https://holderbook.com/stocks/ARI/) | $1.5M | 170,000 | 3.1% | 8 |
| NUVEEN PFD & INCOME OPPORTUN | [JPC](https://holderbook.com/stocks/JPC/) | $1.3M | 147,906 | 2.6% | 8 |
| IRON MTN INC DEL | [IRM](https://holderbook.com/stocks/IRM/) | $1.2M | 45,000 | 2.5% | 2 |
| READY CAPITAL CORP | [RCA](https://holderbook.com/stocks/RCA/) | $1.2M | 49,941 | 2.4% | 4 |
| TERRENO RLTY CORP | [TRNO](https://holderbook.com/stocks/TRNO/) | $970.0K | 17,714 | 2.0% | 1 |
| BLUEROCK RESIDENTIAL GWT REI | [BRG](https://holderbook.com/stocks/BRG/) | $893.0K | 117,776 | 1.8% | 8 |
| VEREIT INC | [VERXXXX](https://holderbook.com/stocks/VERXXXX/) | $780.0K | 120,000 | 1.6% | 6 |
| LADDER CAP CORP | [LADR](https://holderbook.com/stocks/LADR/) | $748.0K | 105,000 | 1.5% | 2 |
| SIMON PPTY GROUP INC NEW | [SPG](https://holderbook.com/stocks/SPG/) | $711.0K | 11,000 | 1.5% | 1 |
| QTS RLTY TR INC | [QTSPRB](https://holderbook.com/stocks/QTSPRB/) | $707.0K | 5,000 | 1.5% | 4 |
| GLOBAL NET LEASE INC | [GNL](https://holderbook.com/stocks/GNL/) | $646.0K | 40,635 | 1.3% | 2 |
| KKR REAL ESTATE FIN TR INC | [KREF](https://holderbook.com/stocks/KREF/) | $556.0K | 33,614 | 1.1% | 2 |
| HEALTHCARE TR AMER INC | [HTA](https://holderbook.com/stocks/HTA/) | $520.0K | 20,000 | 1.1% | 1 |
| VORNADO RLTY TR | [VNO](https://holderbook.com/stocks/VNO/) | $506.0K | 15,000 | 1.0% | 2 |
| LXP INDUSTRIAL TRUST | [LXPXXXX](https://holderbook.com/stocks/LXPXXXX/) | $496.0K | 47,500 | 1.0% | 2 |
| REXFORD INDL RLTY INC | [REXR](https://holderbook.com/stocks/REXR/) | $458.0K | 10,000 | 0.9% | 1 |
| PROLOGIS INC. | [PLD](https://holderbook.com/stocks/PLD/) | $402.0K | 4,000 | 0.8% | 1 |
| FIRST INDL RLTY TR INC | [FR](https://holderbook.com/stocks/FR/) | $398.0K | 10,000 | 0.8% | 1 |
| SL GREEN RLTY CORP | [SLGXXXX](https://holderbook.com/stocks/SLGXXXX/) | $374.0K | 8,063 | 0.8% | 2 |
| INDEPENDENCE RLTY TR INC | [IRT](https://holderbook.com/stocks/IRT/) | $355.0K | 30,602 | 0.7% | 1 |
| CITY OFFICE REIT INC | [CIO](https://holderbook.com/stocks/CIO/) | $338.0K | 45,000 | 0.7% | 4 |
| BXP INC | [BXP](https://holderbook.com/stocks/BXP/) | $321.0K | 4,000 | 0.7% | 2 |
| PLYMOUTH INDL REIT INC | [PLYM](https://holderbook.com/stocks/PLYM/) | $309.0K | 25,000 | 0.6% | 1 |
| FEDERAL REALTY INVT TR | [FRT](https://holderbook.com/stocks/FRT/) | $294.0K | 4,000 | 0.6% | 1 |
| NETSTREIT CORP | [NTST](https://holderbook.com/stocks/NTST/) | $249.0K | 13,650 | 0.5% | 1 |
| OAKTREE SPECIALTY LENDING CO | [OCSL](https://holderbook.com/stocks/OCSL/) | $145.0K | 30,000 | 0.3% | 4 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q3 2020 | +0.9% | +8.6% | -7.7% | 100% |
| Q2 2020 | +28.9% | +19.6% | +9.3% | 100% |
| Q1 2020 | -51.6% | -19.9% | -31.7% | 100% |
| Q4 2019 | +0.6% | +8.5% | -7.8% | 90% |
| Q3 2019 | +2.9% | +1.3% | +1.6% | 97% |
| Q2 2019 | +0.2% | +3.7% | -3.5% | 91% |
| Q1 2019 | +17.9% | +13.0% | +4.9% | 89% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q3 2020 | $48.7M | 38 |
| Q2 2020 | $52.6M | 38 |
| Q1 2020 | $28.6M | 28 |
| Q4 2019 | $86.6M | 41 |
| Q3 2019 | $69.3M | 28 |
| Q2 2019 | $74.2M | 31 |
| Q1 2019 | $43.6M | 22 |
| Q4 2018 | $35.9M | 26 |