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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
+0.72%
1 Year Est. Return
+70.67%
3 Year Est. Return
+97.41%
5 Year Est. Return
+74.27%
10 Year Est. Return
–
AUM
$252M
AUM Growth
-$38.1M
(-13%)
Cap. Flow
-$39.7M
Cap. Flow
% of AUM
-15.78%
Top 10 Holdings %
Top 10 Hldgs %
100%
Holding
11
New
1
Increased
–
Reduced
5
Closed
1
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
RLJ Lodging Trust $1.95 Series A Preferred Stock
RLJ.PRA
|
+$25.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Sunstone Hotel Investors
SHO
|
+$28.5M |
| 2 |
INN
Summit Hotel Properties
INN
|
+$15.7M |
| 3 |
CLDT
Chatham Lodging
CLDT
|
+$12.8M |
| 4 |
DHC
Diversified Healthcare Trust
DHC
|
+$5.5M |
| 5 |
Host Hotels & Resorts
HST
|
+$1.59M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 77.71% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
RLJ Lodging Trust
RLJ
$1.75B
| $69.4M | 27.56% |
4,929,257
| – | – |
|
|
VRE
2
DELISTED
Veris Residential
VRE
| $61.7M | 24.5% |
3,547,314
| – | – |
|
|
DHC
3
Diversified Healthcare Trust
DHC
$1.93B
| $30.8M | 12.22% |
9,617,698
-1,800,000
| -16% | -$5.5M |
|
|
4
Host Hotels & Resorts
HST
$15.5B
| $26.7M | 10.6% |
1,374,032
-87,968
| -6% | -$1.59M |
|
|
5
RLJ Lodging Trust $1.95 Series A Preferred Stock
RLJ.PRA
$325M
| $25.4M | 10.07% |
+920,353
| New | +$25.2M |
|
|
6
Sunstone Hotel Investors
SHO
$2.1B
| $14M | 5.57% |
1,190,410
-2,505,390
| -68% | -$28.5M |
|
7
Vornado Realty Trust
VNO
$7.38B
| $11.3M | 4.5% |
250,000
| – | – |
|
|
INN
8
Summit Hotel Properties
INN
$656M
| $7.31M | 2.9% |
734,000
-1,600,000
| -69% | -$15.7M |
|
9
Brixmor Property Group
BRX
$9.07B
| $5.16M | 2.05% |
200,000
| – | – |
|
|
CLDT
10
Chatham Lodging
CLDT
$634M
| $60K | 0.02% |
4,338
-934,872
| -100% | -$12.8M |
|
11
Kite Realty
KRG
$5.3B
| – | – |
-37,582
| Closed | -$819K |
|
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H/2 Credit Manager's Q1 2022 Portfolio in Review
As of Q1 2022, H/2 Credit Manager held 11 positions worth $252M, down 13% from $290M the previous quarter. Its ten largest holdings account for 100% of the portfolio.
H/2 Credit Manager withdrew a net $39.7M in Q1 2022, closing 1 position and reducing 5 holdings. Its most notable exit was Kite Realty, an estimated $819K position sold in full.
By sector, the portfolio is most concentrated in Real Estate at 78% of assets, down from 88% a quarter earlier.
Against the trend, H/2 Credit Manager opened a new position in RLJ Lodging Trust $1.95 Series A Preferred Stock worth $25.4M.
- H/2 Credit Manager's largest Q1 2022 buy was RLJ Lodging Trust $1.95 Series A Preferred Stock: 920,353 shares worth $25.4M.
- H/2 Credit Manager's biggest Q1 2022 reduction was Sunstone Hotel Investors, cutting an estimated $28.5M.
- H/2 Credit Manager fully exited Kite Realty in Q1 2022, selling an estimated $819K.
- H/2 Credit Manager's ten largest holdings make up 100% of its $252M portfolio in Q1 2022.
- H/2 Credit Manager opened 1 new position and closed 1 in Q1 2022.
- H/2 Credit Manager's portfolio value fell 13% quarter-over-quarter to $252M.
Based on H/2 Credit Manager's 13F filing for Q1 2022, filed 16 May 2022.