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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
-0.96%
1 Year Est. Return
+70.67%
3 Year Est. Return
+97.41%
5 Year Est. Return
+74.27%
10 Year Est. Return
–
AUM
$361M
AUM Growth
+$32.8M
(+10%)
Cap. Flow
+$36.2M
Cap. Flow
% of AUM
10.01%
Top 10 Holdings %
Top 10 Hldgs %
94.34%
Holding
14
New
–
Increased
4
Reduced
2
Closed
1
Avg Time Held
7.7
quarters
Top 10 Avg Time Held
7.6
quarters
Top 20 Avg Time Held
7.7
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Diamondrock Hospitality Co
DRH
|
+$18.4M |
| 2 |
Sunstone Hotel Investors
SHO
|
+$13.2M |
| 3 |
INN
Summit Hotel Properties
INN
|
+$10.6M |
| 4 |
Park Hotels & Resorts
PK
|
+$8.21M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Sabra Healthcare REIT
SBRA
|
+$7.68M |
| 2 |
SL Green Realty
SLG
|
+$5.61M |
| 3 |
CareTrust REIT
CTRE
|
+$993K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 88.5% |
| 2 | Miscellaneous | 11.5% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
VRE
1
DELISTED
Veris Residential
VRE
| $77.5M | 21.46% |
4,697,314
| – | – |
2020 Q4
11 quarters
|
|
2
RLJ Lodging Trust
RLJ
$1.71B
| $61.7M | 17.09% |
6,304,257
| – | – |
2020 Q4
11 quarters
|
|
|
3
Park Hotels & Resorts
PK
$3.05B
| $40.2M | 11.12% |
3,260,000
+635,000
| +24% | +$8.21M |
2022 Q2
5 quarters
|
|
|
DHC
4
Diversified Healthcare Trust
DHC
$1.82B
| $28.9M | 8.01% |
14,917,366
| – | – |
2020 Q4
11 quarters
|
|
|
INN
5
Summit Hotel Properties
INN
$656M
| $28.6M | 7.91% |
4,926,931
+1,775,000
| +56% | +$10.6M |
2021 Q3
8 quarters
|
|
|
6
Sunstone Hotel Investors
SHO
$2.1B
| $24.2M | 6.7% |
2,588,210
+1,400,000
| +118% | +$13.2M |
2021 Q3
8 quarters
|
|
7
Vornado Realty Trust
VNO
$6.28B
| $22.9M | 6.34% |
1,008,913
| – | – |
2021 Q1
10 quarters
|
|
8
Host Hotels & Resorts
HST
$15.5B
| $22.1M | 6.11% |
1,374,032
| – | – |
2020 Q4
11 quarters
|
|
|
9
Diamondrock Hospitality Co
DRH
$2.58B
| $22M | 6.1% |
2,741,445
+2,291,445
| +509% | +$18.4M |
2023 Q2
1 quarter
|
|
|
10
RLJ Lodging Trust $1.95 Series A Preferred Stock
RLJ.PRA
$318M
| $12.6M | 3.49% |
523,881
| – | – |
2022 Q1
6 quarters
|
|
|
11
Sabra Healthcare REIT
SBRA
$4.84B
| $12.5M | 3.47% |
900,000
-600,000
| -40% | -$7.68M |
2023 Q1
2 quarters
|
|
12
Brixmor Property Group
BRX
$8.38B
| $4.16M | 1.15% |
200,000
| – | – |
2020 Q4
11 quarters
|
|
|
13
SL Green Realty
SLG
$3.43B
| $3.73M | 1.03% |
100,000
-156,142
| -61% | -$5.61M |
2022 Q2
5 quarters
|
|
|
14
CareTrust REIT
CTRE
$8.51B
| – | – |
-50,000
| Closed | -$993K | – |
|
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H/2 Credit Manager's Q3 2023 Portfolio in Review
As of Q3 2023, H/2 Credit Manager held 14 positions worth $361M, up 10% from $328M the previous quarter. Its ten largest holdings account for 94% of the portfolio.
H/2 Credit Manager deployed $36.2M of net new capital in Q3 2023, adding to 4 existing holdings.
By sector, the portfolio is most concentrated in Real Estate at 88% of assets, up from 86% a quarter earlier, followed by Miscellaneous.
On the sell side, the largest reduction was Sabra Healthcare REIT, an estimated $7.68M trimmed.
- H/2 Credit Manager added most to Diamondrock Hospitality Co in Q3 2023, an estimated $18.4M increase.
- H/2 Credit Manager's biggest Q3 2023 reduction was Sabra Healthcare REIT, cutting an estimated $7.68M.
- H/2 Credit Manager fully exited CareTrust REIT in Q3 2023, selling an estimated $993K.
- H/2 Credit Manager's ten largest holdings make up 94% of its $361M portfolio in Q3 2023.
- H/2 Credit Manager opened 0 new positions and closed 1 in Q3 2023.
- H/2 Credit Manager's portfolio value rose 10% quarter-over-quarter to $361M.
Based on H/2 Credit Manager's 13F filing for Q3 2023, filed 14 Nov 2023.