Gables Capital Management Inc. reports 4.07% decrease in ownership of STWD / Starwood Property Trust, Inc.

Starwood Property Trust, Inc.

MX ˙ BMV ˙ US85571B1052

Security	MX:STWD / Starwood Property Trust, Inc.
Institution	Gables Capital Management Inc.
Latest Disclosed Ownership	23,575 shares
Latest Disclosed Value	$ 405,962

On May 1, 2026 - Gables Capital Management Inc. filed a 13F-HR form disclosing ownership of 23,575 shares of Starwood Property Trust, Inc. (MX:STWD) valued at $405,962 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 6, 2026 disclosing 24,575 shares of Starwood Property Trust, Inc.. This represents a change in shares of -4.07% during the quarter.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)

File Date	Effective Date	Form	Security	Class	ID	Reported Shares	ΔShares	ΔShares (%)	Reported Value (x1000)	ΔValue (%)	Alloc (%)
2026-05-01	2026-03-31	13F	STARWOOD PPTY TR	COM	85571B105	23,575	-1,000	-4.07	406	-8.37	0.1720
2026-02-06	2025-12-31	13F	STARWOOD PPTY TR	COM	85571B105	24,575	1,200	5.13	443	-2.21	0.1870
2025-11-06	2025-09-30	13F	STARWOOD PPTY TR	COM	85571B105	23,375	-1,000	-4.10	453	-7.57	0.1940
2025-07-30	2025-06-30	13F	STARWOOD PPTY TR	COM	85571B105	24,375	-3,450	-12.40	489	-11.09	0.2312
2025-05-08	2025-03-31	13F	STARWOOD PPTY TR	COM	85571B105	27,825	0	0.00	550	4.36	0.2719
2025-02-07	2024-12-31	13F	STARWOOD PPTY TR	COM	85571B105	27,825	-100	-0.36	527	-7.38	0.2544
2024-10-25	2024-09-30	13F	STARWOOD PPTY TR	COM	85571B105	27,925	0	0.00	569	7.77	0.2872
2024-08-08	2024-06-30	13F	STARWOOD PPTY TR	COM	85571B105	27,925	500	1.82	529	-5.21	0.2766
2024-05-06	2024-03-31	13F	STARWOOD PPTY TR	COM	85571B105	27,425	-300	-1.08	558	-4.30	0.3071
2024-02-08	2023-12-31	13F	STARWOOD PPTY TR	COM	85571B105	27,725	1,700	6.53	583	15.71	0.3621
2023-11-03	2023-09-30	13F	STARWOOD PPTY TR	COM	85571B105	26,025	-200	-0.76	504	-0.98	0.3504
2023-08-03	2023-06-30	13F	STARWOOD PPTY TR	COM	85571B105	26,225	1,225	4.90	509	14.93	0.3330
2023-05-04	2023-03-31	13F	STARWOOD PPTY TR	COM	85571B105	25,000	0	0.00	442	-3.49	0.3089
2023-02-06	2022-12-31	13F	STARWOOD PPTY TR	COM	85571B105	25,000	-500	-1.96	458	-1.51	0.3334
2022-11-01	2022-09-30	13F	STARWOOD PPTY TR	COM	85571B105	25,500	0	0.00	465	-12.76	0.3729
2022-07-18	2022-06-30	13F	STARWOOD PPTY TR	COM	85571B105	25,500	0	0.00	533	-13.47	0.4024
2022-05-02	2022-03-31	13F	STARWOOD PPTY TR	COM	85571B105	25,500	-1,150	-4.32	616	-4.94	0.3865
2022-02-09	2021-12-31	13F	STARWOOD PPTY TR	COM	85571B105	26,650	4,400	19.78	648	19.34	0.3860
2021-11-12	2021-09-30	13F	STARWOOD PPTY TR	COM	85571B105	22,250	0	0.00	543	-6.70	0.3544
2021-08-03	2021-06-30	13F	STARWOOD PPTY TR	COM	85571B105	22,250	-14,760	-39.88	582	-36.46	0.3986
2021-05-12	2021-03-31	13F	STARWOOD PPTY TR	COM	85571B105	37,010	0	0.00	916	28.29	0.5018
2021-02-03	2020-12-31	13F	STARWOOD PPTY TR	COM	85571B105	37,010	0	0.00	714	27.96	0.4168
2020-11-12	2020-09-30	13F	STARWOOD PPTY TR	COM	85571B105	37,010	0	0.00	558	0.72	0.3602
2020-07-30	2020-06-30	13F	STARWOOD PPTY TR	COM	85571B105	37,010	1,800	5.11	554	53.89	0.3838
2020-05-07	2020-03-31	13F	STARWOOD PPTY TR	COM	85571B105	35,210	4,100	13.18	360	-53.61	0.2957
2020-02-10	2019-12-31	13F	STARWOOD PPTY TR	COM	85571B105	31,110	4,300	16.04	776	18.84	0.5199
2019-10-30	2019-09-30	13F	STARWOOD PPTY TR	COM	85571B105	26,810	4,825	21.95	653	30.60	0.4621
2019-07-31	2019-06-30	13F	STARWOOD PPTY TR	COM	85571B105	21,985	-400	-1.79	500	0.00	0.4079
2019-04-30	2019-03-31	13F	STARWOOD PPTY TR	COM	85571B105	22,385	-600	-2.61	500	10.38	0.4022
2019-02-08	2018-12-31	13F	STARWOOD PPTY TR	COM	85571B105	22,985	-800	-3.36	453	-11.52	0.3946
2018-11-05	2018-09-30	13F	STARWOOD PPTY TR	COM	85571B105	23,785	3,700	18.42	512	17.43	0.3898
2018-08-10	2018-06-30	13F/A-1	STARWOOD PPTY TR	COM	85571B105	20,085	1,000	5.24	436	9.00	0.3565
2018-08-03	2018-06-30	13F	STARWOOD PPTY TR	COM	85571B105	20,085	1,000		436		0.3584
2018-05-17	2018-03-31	13F	STARWOOD PPTY TR	COM	85571B105	19,085	19,085		400		0.3538

Legend

Shares: The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value: The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price: The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class: This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred

Allocation (%): The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation: The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%): The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis: The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss: This is the market value of the position as of the effective date minus the cost basis.