

Recognized Experts in High-Yield Investing.
The go-to source for intelligence on alternative asset classes with high yield potential
+2,500
Clients
+100,000
+5,000,000
Followers
Annual Reads
Specialized Investment Research
Leonberg Capital is an investment boutique specializing in alternative asset classes with high yield potential. These include REITs, mortgage REITs, MLPs, BDCs, closed-end funds, preferred shares, and other high yielding equity investments.
We provide a range of research services, from investment newsletters to customized research projects, as well as consulting services primarily focused on REIT management teams.
Customized Research
We conduct customized research projects on specific companies for hedge funds, private equity firms, family offices, high net worth individuals, and other institutional investors.
Our research services are tailored to your specific needs. Whether you require a one-time deep dive on a particular company or ongoing coverage of a specific sector, we can serve as a reliable research partner.
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Investment Newsletters
High Yield Landlord is a specialized investment newsletter dedicated to REIT investing. It covers the entire REIT sector and provides subscribers with access to our investment research, model portfolios, and proprietary REIT market data. Today, High Yield Landlord is one of the largest REIT-focused newsletters in the world and is hosted on both Substack and Seeking Alpha. You can learn more by clicking here.
High Yield Investor is a broader investment newsletter focused on high yield investing across alternative asset classes. It covers a wider range of high-yielding opportunities and provides access to our investment research and model portfolios. High Yield Investor is exclusively hosted on Seeking Alpha, and you can learn more about it by clicking here.
Strategic Consulting
We provide independent guidance to REIT management teams on how to maximize shareholder value and strengthen investor relations.
Drawing on deep market knowledge, we help management teams understand how shareholders are likely to react to different corporate actions and offer objective input on strategic decisions.

About Us
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True Specialists with One Focus:
Generate high yield in listed alternatives
Leonberg Capital is a contrarian, value-oriented investment boutique focused on alternative asset classes with high yield potential. Our primary areas of expertise include REITs, mortgage REITs, MLPs, BDCs, closed-end funds, preferred shares, and other high-yielding equity sectors that are frequently mispriced and offer attractive opportunities for active investors.
We are not only an investment research firm. We are also the active manager of our own capital and invest alongside our recommendations to ensure full alignment of interests with our clients.
More than 2,500 clients rely on our high-yield investment research. Over 100,000 investors follow our work online, and millions of investors have read our published research over the past year alone.
Leonberg Capital is based in Tallinn, Estonia, and Dallas, Texas, and maintains a strong international presence through an extensive network of research partners.

Key Personnel
Jussi Askola, CFA
President
Jussi Askola is a former private equity investor with experience working for a real estate investment firm in Dallas, Texas, and acquiring properties across Europe. Today, he is the President of Leonberg Capital, where he leads the company's research on listed real estate markets. In addition to passing all CFA exams, Jussi holds a B.Sc. in Real Estate Finance from the University of Nürtingen-Geislingen and a B.Sc. in Construction and Property Management from the University of
South Wales. He has authored award-winning academic papers on
REIT investing, been featured in numerous financial media outlets,
has over 100,000 followers online, and maintains relationships with
many top REIT executives.
Samuel Smith
Vice President
Samuel Smith is a former lead analyst at one of the world’s largest investment research publishers. He currently serves as Vice President of Leonberg Capital, where he leads research on non-real estate securities.Samuel is a Professional Engineer and a Project Management Professional by training. He holds a Bachelor of Science in Civil Engineering and Mathematics from the United States Military Academy at West Point and a Master’s degree in Engineering from Texas A&M University.
R. Paul Drake
Analyst
R. Paul Drake is an award-winning physicist and former professor at the University of Michigan who brings a retiree perspective to our team of analysts. Paul is a lifelong reader of works on economics, finance, and investing, and has substantial experience in the research and development of models, drawing on decades of work as a physicist. Among other academic credentials, he holds a doctorate in physics and a bachelor’s degree in philosophy.
Austin Rogers
Analyst
Austin Rogers is a licensed Texas real estate agent who splits his time between a residential management company with over 1,000 units under management, a family office with 50 net lease properties, and REIT research for Leonberg Capital. He holds an M.F.A. in Creative Writing from Western State Colorado University.




Contact us
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To learn more about how our services can benefit you, please complete the contact form below:
Email:
Office
Dallas, USA
Tallinn, Estonia