Orinda Asset Management LLC

CIK

1502631

Location

LAFAYETTE, CA

Portfolio Value

Micro $40,507,241

Diversification

Diversified

Filing Date

Global Rank

#5,163 / 5,416 ▼ 25 · as of Sep 2020

Top Industry

REIT - Mortgage 48.3%

Period ended 6 years ago

Filed Oct 20, 2020 · 6y

3 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Unknown

Portfolio style

Measured from the filed 13F common-share book for Sep 30, 2020, never from the firm's own description.

Style

Concentrated

The top 10 positions are 63.0% of the book (60%+)

Turnover

Turnover unknown

It needs four straight quarters of measured turnover

Horizon

Horizon unknown

The value-weighted holding period is at least 2.5 quarters, but 63.6% of the book was already held when coverage starts

Closest benchmark: the Russell 2000 as of 2020-09-30, active share 98.4%; sector active share 86.1% against the combined 13F book's sector weights.

Over time 3 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

33 tracked positions · as of Sep 30, 2020 · Δ vs Jun 30, 2020

Top Position

9.2%

+0.6 pts

Top 5

38.3%

−0.1 pts

Top 10

63.0%

+2.6 pts

HHI

505

Diversified+0

Portfolio Trend

3 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2020

Sector	% Portfolio	Value	Positions
Real Estate	88.5%	$35,864,321	27
Unclassified	8.0%	$3,242,000	4
Financial Services	3.5%	$1,400,920	2

Last Quarter's Activity

Export CSV

Sep 30, 2020 vs Jun 30, 2020

Added To

Positions the filer increased

12 positions

Ticker	Company	Δ Shares	Shares	Value
SBRA	Sabra Health Care REIT, Inc.	+83,242	199,797	$2,755,200
ARI	Apollo Commercial Real Estate Finance, Inc.	+34,829	170,000	$1,531,700
GNL	Global Net Lease, Inc.	+25,805	40,635	$646,096
—		+25,100	117,776	$893,000
STAG	STAG Industrial, Inc.	+22,066	92,066	$2,807,092
IRM	Iron Mountain Inc	+15,000	45,000	$1,205,550
—		+10,000	45,000	$338,000
TRTX	TPG RE Finance Trust, Inc.	+5,000	190,000	$1,607,400
KREF	KKR Real Estate Finance Trust Inc.	+5,000	33,614	$555,639
LADR	Ladder Capital Corp	+5,000	105,000	$747,600
DLR	Digital Realty Trust, Inc.	+1,885	11,885	$1,744,242
WPC	W. P. Carey Inc.	+300	45,300	$2,951,748
No positions match the current search.

Trimmed

Positions the filer reduced

10 positions

Ticker	Company	Δ Shares	Shares	Value
JPC	Nuveen Preferred & Income Opportunities Fund	−229,994	147,906	$1,255,721
OCSL	Oaktree Specialty Lending Corp	−104,700	30,000	$145,199
ABR	Arbor Realty Trust Inc	−55,000	325,000	$3,727,750
NLY	Annaly Capital Management Inc	−36,210	380,000	$2,705,600
SLG	Sl Green Realty Corp	−24,437	8,063	$374,249
VNO	Vornado Realty Trust	−17,500	15,000	$505,650
LXP	LXP Industrial Trust	−12,500	47,500	$496,375
BXP	BXP, Inc.	−8,000	4,000	$321,200
STWD	Starwood Property Trust, Inc.	−7,500	117,500	$1,773,075
BXMT	Blackstone Mortgage Trust, Inc.	−300	148,300	$3,258,151
No positions match the current search.

New Positions

Positions the filer opened this quarter

9 positions

Ticker	Company	Shares	Value
TRNO	Terreno Realty Corp	17,714	$970,018
SPG	Simon Property Group Inc.	11,000	$711,480
HTA	Healthcare Realty Trust Inc	20,000	$520,000
REXR	Rexford Industrial Realty, Inc.	10,000	$457,600
PLD	Prologis, Inc.	4,000	$402,480
FR	First Industrial Realty Trust Inc	10,000	$398,000
IRT	Independence Realty Trust, Inc.	30,602	$354,677
—		25,000	$309,000
NTST	NETSTREIT Corp.	13,650	$249,249
No positions match the current search.

Sold Out

Positions the filer fully exited

10 positions

Ticker	Company	Shares	Value
ESS	Essex Property Trust, Inc.	7,000	$1,604,190
VNQ	VANGUARD REAL ESTATE INDEX FUND	17,500	$1,374,275
VTR	Ventas, Inc.	37,500	$1,373,250
INVH	Invitation Homes Inc.	41,000	$1,128,730
ACRE	Ares Commercial Real Estate Corp	30,000	$273,600
SKT	Tanger Inc.	30,000	$213,900
GPMT	Granite Point Mortgage Trust Inc.	25,000	$179,500
MAC	Macerich Co	16,420	$147,287
—		14,670	$0
XAN	ACRES Commercial Realty Corp.	170,000	$0
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

33 tracked positions · $40,507,241 total · filing declares 38 positions · $48,745,000 · as of Sep 30, 2020

All sectors Financial Services Real Estate

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
ABR	Arbor Realty Trust Inc Real Estate	Reduced	325,000	-55,000	$3,727,750	+6.2%	3+	before history	9.20%
BXMT	Blackstone Mortgage Trust, Inc. Real Estate	Reduced	148,300	-300	$3,258,151	−9.0%	3+	before history	8.04%
WPC	W. P. Carey Inc. Real Estate	Added	45,300	+300	$2,951,748	−3.0%	3+	before history	7.29%
STAG	STAG Industrial, Inc. Real Estate	Added	92,066	+22,066	$2,807,092	+36.8%	3+	before history	6.93%
SBRA	Sabra Health Care REIT, Inc. Real Estate	Added	199,797	+83,242	$2,755,200	+63.8%	3+	before history	6.80%
NLY	Annaly Capital Management Inc Real Estate	Reduced	380,000	-36,210	$2,705,600	−0.9%	3+	before history	6.68%
AGNC	AGNC Investment Corp. Real Estate	Held	150,000	0	$2,086,500	+7.8%	2	$12.54	5.15%
STWD	Starwood Property Trust, Inc. Real Estate	Reduced	117,500	-7,500	$1,773,075	−5.2%	3+	before history	4.38%
DLR	Digital Realty Trust, Inc. Real Estate	Added	11,885	+1,885	$1,744,242	+22.7%	2	$142.89	4.31%
		Held	27,000	0	$1,702,000	—	2	unpriced	4.20%
TRTX	TPG RE Finance Trust, Inc. Real Estate	Added	190,000	+5,000	$1,607,400	+1.0%	3+	before history	3.97%
ARI	Apollo Commercial Real Estate Finance, Inc. Real Estate	Added	170,000	+34,829	$1,531,700	+15.5%	3+	before history	3.78%
JPC	Nuveen Preferred & Income Opportunities Fund Financial Services	Reduced	147,906	-229,994	$1,255,721	−59.6%	3+	before history	3.10%
IRM	Iron Mountain Inc Real Estate	Added	45,000	+15,000	$1,205,550	+54.0%	2	$26.32	2.98%
TRNO	Terreno Realty Corp Real Estate	NEW	17,714	NEW	$970,018	NEW	1	$56.88	2.39%
		Added	117,776	+25,100	$893,000	—	3+	before history	2.20%
LADR	Ladder Capital Corp Real Estate	Added	105,000	+5,000	$747,600	−7.7%	2	$7.51	1.85%
SPG	Simon Property Group Inc. Real Estate	NEW	11,000	NEW	$711,480	NEW	1	$65.56	1.76%
GNL	Global Net Lease, Inc. Real Estate	Added	40,635	+25,805	$646,096	+160.4%	2	$15.95	1.60%
KREF	KKR Real Estate Finance Trust Inc. Real Estate	Added	33,614	+5,000	$555,639	+17.1%	2	$16.03	1.37%
HTA	Healthcare Realty Trust Inc Real Estate	NEW	20,000	NEW	$520,000	NEW	1	unpriced	1.28%
VNO	Vornado Realty Trust Real Estate	Reduced	15,000	-17,500	$505,650	−59.3%	2	$38.82	1.25%
LXP	LXP Industrial Trust Real Estate	Reduced	47,500	-12,500	$496,375	−21.6%	2	$10.08	1.23%
REXR	Rexford Industrial Realty, Inc. Real Estate	NEW	10,000	NEW	$457,600	NEW	1	$45.31	1.13%
PLD	Prologis, Inc. Real Estate	NEW	4,000	NEW	$402,480	NEW	1	$100.18	0.99%
FR	First Industrial Realty Trust Inc Real Estate	NEW	10,000	NEW	$398,000	NEW	1	$41.28	0.98%
SLG	Sl Green Realty Corp Real Estate	Reduced	8,063	-24,437	$374,249	−76.7%	2	unpriced	0.92%
IRT	Independence Realty Trust, Inc. Real Estate	NEW	30,602	NEW	$354,677	NEW	1	$11.46	0.88%
		Added	45,000	+10,000	$338,000	—	3+	before history	0.83%
BXP	BXP, Inc. Real Estate	Reduced	4,000	-8,000	$321,200	−70.4%	2	$90.74	0.79%
		NEW	25,000	NEW	$309,000	NEW	1	unpriced	0.76%
NTST	NETSTREIT Corp. Real Estate	NEW	13,650	NEW	$249,249	NEW	1	$18.06	0.62%
OCSL	Oaktree Specialty Lending Corp Financial Services	Reduced	30,000	-104,700	$145,199	−75.9%	3+	before history	0.36%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.