# RVB CAPITAL MANAGEMENT LLC

> Institutional holdings reported to the SEC as of Q1 2022 on Form 13F. CIK 1721568. Source: https://holderbook.com/funds/1721568-rvb-capital-management-llc/

- Reported value: $117.5M
- Positions: 36
- Weight of the ten largest: 57.6%
- Filed: 2022-05-13

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 |
|---|---|---|---|---|---|
| DUKE REALTY CORP | [DRE](https://holderbook.com/stocks/DRE/) | $9.3M | 160,000 | 7.9% | 4 |
| PIEDMONT REALTY TRUST INC | [PDM](https://holderbook.com/stocks/PDM/) | $9.0M | 525,000 | 7.7% | 8 |
| KITE REALTY GROUP TRUST | [KRG](https://holderbook.com/stocks/KRG/) | $8.8M | 384,900 | 7.5% | 3 |
| MGM GROWTH PPTYS LLC | [MGP](https://holderbook.com/stocks/MGP/) | $7.8M | 202,500 | 6.7% | 7 |
| SPIRIT RLTY CAP INC NEW | [SRC](https://holderbook.com/stocks/SRC/) | $6.9M | 150,000 | 5.9% | 4 |
| APARTMENT INCOME REIT CORP | [AIRC](https://holderbook.com/stocks/AIRC/) | $6.7M | 125,000 | 5.7% | 3 |
| RPT REALTY | [RPT](https://holderbook.com/stocks/RPT/) | $5.5M | 400,000 | 4.7% | 6 |
| ALEXANDRIA REAL ESTATE EQ IN | [ARE](https://holderbook.com/stocks/ARE/) | $4.9M | 24,500 | 4.2% | 1 |
| SUN CMNTYS INC | [SUI](https://holderbook.com/stocks/SUI/) | $4.8M | 27,500 | 4.1% | 6 |
| MEDICAL PROPERTIES TRUST INC | [MPT](https://holderbook.com/stocks/MPT/) | $3.9M | 185,000 | 3.3% | 3 |
| LIFE STORAGE INC | [LSI](https://holderbook.com/stocks/LSI/) | $3.5M | 25,000 | 3.0% | 1 |
| VENTAS INC | [VTR](https://holderbook.com/stocks/VTR/) | $3.4M | 55,000 | 2.9% | 4 |
| REGENCY CTRS CORP | [REG](https://holderbook.com/stocks/REG/) | $3.4M | 47,500 | 2.9% | 1 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $2.9M | 6,500 | 2.5% | 2 |
| EQUITY LIFESTYLE PROPERTIES | [ELS](https://holderbook.com/stocks/ELS/) | $2.9M | 37,850 | 2.5% | 8 |
| INDEPENDENCE RLTY TR INC | [IRT](https://holderbook.com/stocks/IRT/) | $2.8M | 107,500 | 2.4% | 1 |
| NETSTREIT CORP | [NTST](https://holderbook.com/stocks/NTST/) | $2.8M | 125,000 | 2.4% | 3 |
| HIGHWOODS PPTYS INC | [HIW](https://holderbook.com/stocks/HIW/) | $2.6M | 57,500 | 2.2% | 7 |
| UDR INC | [UDR](https://holderbook.com/stocks/UDR/) | $2.2M | 37,500 | 1.8% | 7 |
| HUDSON PAC PPTYS INC | [HPP](https://holderbook.com/stocks/HPP/) | $2.1M | 75,000 | 1.8% | 6 |
| DIGITAL RLTY TR INC | [DLR](https://holderbook.com/stocks/DLR/) | $2.1M | 14,500 | 1.7% | 7 |
| KILROY REALTY CORP | [KRC](https://holderbook.com/stocks/KRC/) | $2.0M | 26,500 | 1.7% | 8 |
| EQUITY RESIDENTIAL | [EQR](https://holderbook.com/stocks/EQR/) | $2.0M | 22,500 | 1.7% | 2 |
| AMERICAN TOWER CORP | [AMT](https://holderbook.com/stocks/AMT/) | $1.9M | 7,500 | 1.6% | 7 |
| REXFORD INDL RLTY INC | [REXR](https://holderbook.com/stocks/REXR/) | $1.8M | 24,000 | 1.5% | 3 |
| CARETRUST REIT INC | [CTRE](https://holderbook.com/stocks/CTRE/) | $1.7M | 90,000 | 1.5% | 1 |
| FIRST INDL RLTY TR INC | [FR](https://holderbook.com/stocks/FR/) | $1.5M | 25,000 | 1.3% | 6 |
| SBA COMMUNICATIONS CORP | [SBAC](https://holderbook.com/stocks/SBAC/) | $1.5M | 4,500 | 1.3% | 2 |
| CAMDEN PPTY TR | [CPT](https://holderbook.com/stocks/CPT/) | $1.5M | 9,000 | 1.3% | 1 |
| COPT DEFENSE PROPERTIES | [CDP](https://holderbook.com/stocks/CDP/) | $1.4M | 50,000 | 1.2% | 4 |
| SL GREEN RLTY CORP | [SLG](https://holderbook.com/stocks/SLG/) | $1.4M | 17,500 | 1.2% | 1 |
| DOUGLAS EMMETT INC | [DEI](https://holderbook.com/stocks/DEI/) | $1.0M | 30,000 | 0.9% | 1 |
| PEBBLEBROOK HOTEL TR | [PEB](https://holderbook.com/stocks/PEB/) | $367.0K | 15,000 | 0.3% | 1 |
| DIAMONDROCK HOSPITALITY CO | [DRH](https://holderbook.com/stocks/DRH/) | $354.0K | 35,000 | 0.3% | 1 |
| PARK HOTELS & RESORTS INC | [PK](https://holderbook.com/stocks/PK/) | $293.0K | 15,000 | 0.2% | 1 |
| HOST HOTELS & RESORTS INC | [HST](https://holderbook.com/stocks/HST/) | $194.0K | 10,000 | 0.2% | 1 |

## 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 |
|---|---|---|---|---|
| Q1 2022 | -1.9% | -4.9% | +3.0% | 95% |
| Q4 2021 | +9.9% | +10.7% | -0.8% | 93% |
| Q3 2021 | -1.1% | +0.3% | -1.3% | 100% |
| Q2 2021 | +10.5% | +8.0% | +2.5% | 100% |
| Q1 2021 | +10.0% | +6.0% | +4.0% | 100% |
| Q4 2020 | +14.7% | +11.6% | +3.0% | 100% |
| Q3 2020 | -2.6% | +8.6% | -11.2% | 100% |
| Q2 2020 | +16.2% | +19.6% | -3.5% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q1 2022 | $117.5M | 36 |
| Q4 2021 | $114.9M | 29 |
| Q3 2021 | $139.5M | 41 |
| Q2 2021 | $119.9M | 42 |
| Q1 2021 | $130.0M | 32 |
| Q4 2020 | $118.2M | 30 |
| Q3 2020 | $106.7M | 35 |
| Q2 2020 | $24.8M | 25 |
| Q1 2020 | $3.4M | 12 |
| Q4 2019 | $241.9M | 35 |
| Q3 2019 | $132.7M | 33 |
| Q2 2019 | $143.9M | 37 |