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H2CM
H/2 Credit Manager Portfolio holdings
AUM
$526M
1-Year Est. Return
70.67%
This Fund
S&P 500
This Quarter
Est. Return
+0.31%
1 Year Est. Return
+70.67%
3 Year Est. Return
+97.41%
5 Year Est. Return
+74.27%
10 Year Est. Return
–
AUM
$290M
AUM Growth
-$68M
(-19%)
Cap. Flow
-$67.8M
Cap. Flow
% of AUM
-23.38%
Top 10 Holdings %
Top 10 Hldgs %
100%
Holding
12
New
–
Increased
2
Reduced
3
Closed
2
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Sunstone Hotel Investors
SHO
|
+$6.58M |
| 2 |
DHC
Diversified Healthcare Trust
DHC
|
+$1.62M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CPLG
CorePoint Lodging Inc. Common Stock
CPLG
|
+$39.9M |
| 2 |
RLJ Lodging Trust
RLJ
|
+$13.3M |
| 3 |
Kite Realty
KRG
|
+$10.2M |
| 4 |
VER
VEREIT, Inc.
VER
|
+$7.82M |
| 5 |
Brixmor Property Group
BRX
|
+$4.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 87.83% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
RLJ Lodging Trust
RLJ
$1.75B
| $68.7M | 23.68% |
4,929,257
-945,743
| -16% | -$13.3M |
|
|
VRE
2
DELISTED
Veris Residential
VRE
| $65.2M | 22.49% |
3,547,314
| – | – |
|
|
3
Sunstone Hotel Investors
SHO
$2.1B
| $43.4M | 14.95% |
3,695,800
+550,000
| +17% | +$6.58M |
|
|
DHC
4
Diversified Healthcare Trust
DHC
$1.93B
| $35.3M | 12.17% |
11,417,698
+500,000
| +5% | +$1.62M |
|
5
Host Hotels & Resorts
HST
$15.5B
| $25.4M | 8.77% |
1,462,000
| – | – |
|
|
INN
6
Summit Hotel Properties
INN
$656M
| $22.8M | 7.86% |
2,334,000
| – | – |
|
|
CLDT
7
Chatham Lodging
CLDT
$634M
| $12.9M | 4.44% |
939,210
| – | – |
|
8
Vornado Realty Trust
VNO
$7.39B
| $10.5M | 3.61% |
250,000
| – | – |
|
|
9
Brixmor Property Group
BRX
$9.09B
| $5.08M | 1.75% |
200,000
-200,000
| -50% | -$4.8M |
|
|
10
Kite Realty
KRG
$5.3B
| $819K | 0.28% |
37,582
-475,000
| -93% | -$10.2M |
|
|
CPLG
11
DELISTED
CorePoint Lodging Inc. Common Stock
CPLG
| – | – |
-2,573,917
| Closed | -$39.9M |
|
|
VER
12
DELISTED
VEREIT, Inc.
VER
| – | – |
-172,901
| Closed | -$7.82M |
|
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H/2 Credit Manager's Q4 2021 Portfolio in Review
As of Q4 2021, H/2 Credit Manager held 12 positions worth $290M, down 19% from $358M the previous quarter. Its ten largest holdings account for 100% of the portfolio.
H/2 Credit Manager withdrew a net $67.8M in Q4 2021, closing 2 positions and reducing 3 holdings. Its most notable exit was CorePoint Lodging Inc. Common Stock, an estimated $39.9M position sold in full.
By sector, the portfolio is most concentrated in Real Estate at 88% of assets, down from 90% a quarter earlier.
Against the trend, H/2 Credit Manager added an estimated $6.58M to Sunstone Hotel Investors.
- H/2 Credit Manager added most to Sunstone Hotel Investors in Q4 2021, an estimated $6.58M increase.
- H/2 Credit Manager's biggest Q4 2021 reduction was RLJ Lodging Trust, cutting an estimated $13.3M.
- H/2 Credit Manager fully exited CorePoint Lodging Inc. Common Stock in Q4 2021, selling an estimated $39.9M.
- H/2 Credit Manager's ten largest holdings make up 100% of its $290M portfolio in Q4 2021.
- H/2 Credit Manager opened 0 new positions and closed 2 in Q4 2021.
- H/2 Credit Manager's portfolio value fell 19% quarter-over-quarter to $290M.
Based on H/2 Credit Manager's 13F filing for Q4 2021, filed 14 Feb 2022.