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Conversant Capital Portfolio holdings
AUM
$745M
1-Year Est. Return
20.03%
This Fund
S&P 500
This Quarter
Est. Return
+9.9%
1 Year Est. Return
+20.03%
3 Year Est. Return
+177.96%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$402M
AUM Growth
+$10.5M
(+2.7%)
Cap. Flow
-$14.8M
Cap. Flow
% of AUM
-3.69%
Top 10 Holdings %
Top 10 Hldgs %
81.4%
Holding
25
New
7
Increased
2
Reduced
3
Closed
5
Top Buys
| 1 |
PennyMac Financial
PFSI
|
+$7.92M |
| 2 |
CRH
CRH
|
+$7.74M |
| 3 |
Vesta Real Estate
VTMX
|
+$4.03M |
| 4 |
Griffon
GFF
|
+$1.64M |
| 5 |
BRDG
Bridge Investment Group
BRDG
|
+$509K |
Top Sells
| 1 |
INDT
INDUS Realty Trust, Inc. (MD) Common Stock
INDT
|
+$69.5M |
| 2 |
LSI
Life Storage, Inc.
LSI
|
+$22.9M |
| 3 |
UDR
UDR
|
+$6.77M |
| 4 |
American Homes 4 Rent
AMH
|
+$6.76M |
| 5 |
SAFE
Safehold
SAFE
|
+$5.65M |
Sector Composition
| 1 | Financials | 27.3% |
| 2 | Industrials | 19.34% |
| 3 | Real Estate | 12.96% |
| 4 | Healthcare | 6.47% |
| 5 | Materials | 2.15% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Target Hospitality
TH
$1.68B
| $57.5M | 14.28% |
4,281,450
| – | – |
|
2
DigitalBridge
DBRG
$2.92B
| $41.2M | 10.24% |
2,800,000
| – | – |
|
3
PUT
iShares US Real Estate ETF
IYR
$4.83B
| $38.9M | 9.68% |
+450,000
| New | +$37.8M |
|
4
PUT
iShares Russell 2000 ETF
IWM
$82.2B
| $37.5M | 9.31% |
+200,000
| New | +$35.7M |
|
|
BRSP
5
BrightSpire Capital
BRSP
$720M
| $32.4M | 8.04% |
4,808,333
-825,000
| -15% | -$4.9M |
|
6
PUT
iShares US Home Construction ETF
ITB
$2.46B
| $29.9M | 7.43% |
+350,000
| New | +$26.6M |
|
|
RPC
7
Ridgepost Capital
RPC
$951M
| $27.8M | 6.91% |
2,459,702
| – | – |
|
8
Sonida Senior Living
SNDA
$1.92B
| $26M | 6.47% |
2,985,481
| – | – |
|
|
9
Griffon
GFF
$4.29B
| $20.4M | 5.07% |
505,954
+50,000
| +11% | +$1.64M |
|
10
Walker & Dunlop
WD
$1.76B
| $16.1M | 3.99% |
203,000
| – | – |
|
|
BRDG
11
DELISTED
Bridge Investment Group
BRDG
| $16M | 3.98% |
1,412,064
+50,000
| +4% | +$509K |
|
12
SBA Communications
SBAC
$19.6B
| $12.7M | 3.17% |
55,000
| – | – |
|
|
13
PennyMac Financial
PFSI
$4.51B
| $8.79M | 2.18% |
+125,000
| New | +$7.92M |
|
|
14
CRH
CRH
$70.6B
| $8.64M | 2.15% |
+155,000
| New | +$7.74M |
|
|
15
CALL
Target Hospitality
TH
$1.68B
| $6.71M | 1.67% |
500,000
| – | – |
|
|
UHG
16
DELISTED
United Homes Group
UHG
| $5.97M | 1.48% |
535,173
| – | – |
|
|
17
Vesta Real Estate
VTMX
$3.23B
| $4.03M | 1% |
+125,000
| New | +$4.03M |
|
|
PRMW
18
DELISTED
Primo Water Corporation
PRMW
| $3.82M | 0.95% |
305,000
-136,304
| -31% | -$1.91M |
|
|
SAFE
19
Safehold
SAFE
$1.23B
| $3.02M | 0.75% |
127,165
-212,835
| -63% | -$5.65M |
|
|
20
American Homes 4 Rent
AMH
$12.4B
| – | – |
-215,000
| Closed | -$6.76M |
|
21
CALL
iShares S&P 100 ETF
OEF
$20.1B
| – | – |
-275,000
| Closed | -$23.3M |
|
|
22
UDR
UDR
$13.2B
| – | – |
-165,000
| Closed | -$6.77M |
|
|
LSI
23
DELISTED
Life Storage, Inc.
LSI
| – | – |
-175,000
| Closed | -$22.9M |
|
|
INDT
24
DELISTED
INDUS Realty Trust, Inc. (MD) Common Stock
INDT
| – | – |
-1,049,088
| Closed | -$69.5M |
|
Similar funds
CAWM
PCOC
HI
SIA
KAM
EIG
APG
HCP
Conversant Capital's Q2 2023 Portfolio in Review
As of Q2 2023, Conversant Capital held 25 positions worth $402M, up 2.7% from $392M the previous quarter. Its ten largest holdings account for 81% of the portfolio.
Conversant Capital withdrew a net $14.8M in Q2 2023, closing 5 positions and reducing 3 holdings. Its most notable exit was INDUS Realty Trust, Inc. (MD) Common Stock, an estimated $69.5M position sold in full.
By sector, the portfolio is most concentrated in Financials at 27% of assets, up from 23% a quarter earlier, followed by Industrials and Real Estate.
Against the trend, Conversant Capital opened a new position in PennyMac Financial worth $8.79M.
- Conversant Capital's largest Q2 2023 buy was PennyMac Financial: 125,000 shares worth $8.79M.
- Conversant Capital added most to Griffon in Q2 2023, an estimated $1.64M increase.
- Conversant Capital's biggest Q2 2023 reduction was Safehold, cutting an estimated $5.65M.
- Conversant Capital fully exited INDUS Realty Trust, Inc. (MD) Common Stock in Q2 2023, selling an estimated $69.5M.
- Conversant Capital's ten largest holdings make up 81% of its $402M portfolio in Q2 2023.
- Conversant Capital opened 7 new positions and closed 5 in Q2 2023.
- Conversant Capital's portfolio value rose 2.7% quarter-over-quarter to $402M.
Based on Conversant Capital's 13F filing for Q2 2023, filed 14 Aug 2023.