Orinda Asset Management 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
APOLLO COML REAL EST FIN INC	COM	03762U105	6,251	339,939	SH		SOLE		339,939	0	0
ARBOR RLTY TR INC	COM	038923108	3,050	251,685	SH		SOLE		251,685	0	0
ARES COML REAL ESTATE CORP	COM	04013V108	193	13,000	SH		SOLE		13,000	0	0
BLACKSTONE MTG TR INC	COM CL A	09257W100	7,116	200,000	SH		SOLE		200,000	0	0
BLUEROCK RESIDENTIAL GRW REI	COM CL A	09627J102	1,469	125,000	SH		SOLE		125,000	0	0
BROOKFIELD PPTY PARTNERS L P	UNIT LTD PARTN	G16249107	1,601	84,600	SH		SOLE		84,600	0	0
BUCKEYE PARTNERS L P	UNIT LTD PARTN	118230101	4,516	110,000	SH		SOLE		110,000	0	0
CORENERGY INFRASTRUCTURE TR	DEP SHS REPSTG	21870U304	2,557	100,597	SH		SOLE		100,597	0	0
CORENERGY INFRASTRUCTURE TR	DEP SHS REPSTG	21870U502	807	20,359	SH		SOLE		20,359	0	0
ENERGY TRANSFER EQUITY L P	COM UT LTD PTN	29273V100	2,957	210,000	SH		SOLE		210,000	0	0
GLOBAL NET LEASE INC	COM NEW	379378201	1,962	100,000	SH		SOLE		100,000	0	0
GRANITE PT MTG TR INC	COM	38741L107	3,814	198,771	SH		SOLE		198,771	0	0
HEALTHCARE TR AMER INC	CL A NEW	42225P501	549	20,000	SH		SOLE		20,000	0	0
INDEPENDENCE RLTY TR INC	COM	45378A106	1,085	93,808	SH		SOLE		93,808	0	0
IRON MTN INC NEW	COM	46284V101	4,321	138,042	SH		SOLE		138,042	0	0
KIMCO RLTY CORP	COM	49446R109	462	25,000	SH		SOLE		25,000	0	0
KKR REAL ESTATE FIN TR INC	COM	48251K100	996	50,000	SH		SOLE		50,000	0	0
NEW RESIDENTIAL INVT CORP	COM NEW	64828T201	4,732	307,500	SH		SOLE		307,500	0	0
PEBBLEBROOK HOTEL TR	COM	70509V100	1,855	65,819	SH		SOLE		65,819	0	0
PENNSYLVANIA RL ESTATE INVT	SH BEN INT	709102107	1,235	190,000	SH		SOLE		190,000	0	0
RLJ LODGING TR	COM	74965L101	2,614	147,358	SH		SOLE		147,358	0	0
STARWOOD PPTY TR INC	COM	85571B105	4,998	220,000	SH		SOLE		220,000	0	0
VENTAS INC	COM	92276F100	2,493	36,468	SH		SOLE		36,468	0	0
VEREIT INC	COM	92339V100	1,847	205,000	SH		SOLE		205,000	0	0
WASHINGTON PRIME GROUP NEW	COM	93964W108	2,062	539,739	SH		SOLE		539,739	0	0
WESTERN ASSET MTG CAP CORP	COM	95790D105	399	40,000	SH		SOLE		40,000	0	0
BROOKFIELD REAL ASSETS INCOM	SHS BEN INT	112830104	1,629	75,098	SH		SOLE		75,098	0	0
COHEN & STEERS LTD DUR PFD I	COM	19248C105	1,151	46,243	SH		SOLE		46,243	0	0
COHEN & STEERS QUALITY RLTY	COM	19247L106	1,588	116,050	SH		SOLE		116,050	0	0
COHEN & STEERS SLT PFD INCM	COM	19248Y107	857	30,425	SH		SOLE		30,425	0	0
NUVEEN PFD INCOME OPPRTNY FD	COM	67073B106	3,030	305,783	SH		SOLE		305,783	0	0