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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
-11.58%
1 Year Est. Return
+70.67%
3 Year Est. Return
+97.41%
5 Year Est. Return
+74.27%
10 Year Est. Return
–
AUM
$376M
AUM Growth
-$14.9M
(-3.8%)
Cap. Flow
+$39.4M
Cap. Flow
% of AUM
10.46%
Top 10 Holdings %
Top 10 Hldgs %
93.81%
Holding
16
New
3
Increased
3
Reduced
–
Closed
–
Avg Time Held
9.9
quarters
Top 10 Avg Time Held
10
quarters
Top 20 Avg Time Held
9.9
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
ALX
Alexander's
ALX
|
+$13.2M |
| 2 |
Diamondrock Hospitality Co
DRH
|
+$11.3M |
| 3 |
Park Hotels & Resorts
PK
|
+$6.01M |
| 4 |
Pebblebrook Hotel Trust 6.3% Series F Preferred Shares
PEB.PRF
|
+$4.71M |
| 5 |
Sunstone Hotel Investors
SHO
|
+$2.17M |
Top Sells
No sells this quarter
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 88.86% |
| 2 | Miscellaneous | 11.14% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
VRE
1
DELISTED
Veris Residential
VRE
| $72.7M | 19.31% |
4,297,314
| – | – |
2020 Q4
17 quarters
|
|
2
RLJ Lodging Trust
RLJ
$1.71B
| $49.7M | 13.21% |
6,304,257
| – | – |
2020 Q4
17 quarters
|
|
|
INN
3
Summit Hotel Properties
INN
$656M
| $48.2M | 12.8% |
8,909,500
| – | – |
2021 Q3
14 quarters
|
|
|
4
Park Hotels & Resorts
PK
$3.05B
| $41.7M | 11.08% |
3,903,750
+475,000
| +14% | +$6.01M |
2022 Q2
11 quarters
|
|
|
5
Diamondrock Hospitality Co
DRH
$2.58B
| $39.2M | 10.41% |
5,075,150
+1,333,705
| +36% | +$11.3M |
2023 Q2
7 quarters
|
|
|
DHC
6
Diversified Healthcare Trust
DHC
$1.82B
| $35.8M | 9.51% |
14,917,366
| – | – |
2020 Q4
17 quarters
|
|
|
7
Sunstone Hotel Investors
SHO
$2.1B
| $28.1M | 7.47% |
2,988,210
+200,000
| +7% | +$2.17M |
2021 Q3
14 quarters
|
|
8
Sabra Healthcare REIT
SBRA
$4.84B
| $15.7M | 4.18% |
900,000
| – | – |
2023 Q1
8 quarters
|
|
|
ALX
9
Alexander's
ALX
$1.23B
| $13.7M | 3.63% |
+65,322
| New | +$13.2M |
2025 Q1
0 quarters
|
|
10
Host Hotels & Resorts
HST
$15.5B
| $8.33M | 2.21% |
586,032
| – | – |
2020 Q4
17 quarters
|
|
11
Kimco Realty
KIM
$14.9B
| $7.59M | 2.02% |
357,500
| – | – |
2024 Q1
4 quarters
|
|
12
Brixmor Property Group
BRX
$8.38B
| $5.31M | 1.41% |
200,000
| – | – |
2020 Q4
17 quarters
|
|
|
13
Pebblebrook Hotel Trust 6.3% Series F Preferred Shares
PEB.PRF
$116M
| $4.32M | 1.15% |
+246,483
| New | +$4.71M |
2025 Q1
0 quarters
|
|
|
CLDT
14
Chatham Lodging
CLDT
$634M
| $4.24M | 1.13% |
595,000
| – | – |
2024 Q1
4 quarters
|
|
|
15
Pebblebrook Hotel Trust 6.375% Series E Preferred Shares
PEB.PRE
$86.7M
| $1.78M | 0.47% |
+104,015
| New | +$1.98M |
2025 Q1
0 quarters
|
|
|
16
RLJ Lodging Trust $1.95 Series A Preferred Stock
RLJ.PRA
$318M
| $49K | 0.01% |
2,000
| – | – |
2022 Q1
12 quarters
|
|
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H/2 Credit Manager's Q1 2025 Portfolio in Review
As of Q1 2025, H/2 Credit Manager held 16 positions worth $376M, down 3.8% from $391M the previous quarter. Its ten largest holdings account for 94% of the portfolio.
H/2 Credit Manager deployed $39.4M of net new capital in Q1 2025, opening 3 new positions and adding to 3 existing holdings. Its largest new stake was Alexander's: 65,322 shares worth $13.7M.
By sector, the portfolio is most concentrated in Real Estate at 89% of assets, down from 91% a quarter earlier, followed by Miscellaneous.
- H/2 Credit Manager's largest Q1 2025 buy was Alexander's: 65,322 shares worth $13.7M.
- H/2 Credit Manager added most to Diamondrock Hospitality Co in Q1 2025, an estimated $11.3M increase.
- H/2 Credit Manager's ten largest holdings make up 94% of its $376M portfolio in Q1 2025.
- H/2 Credit Manager opened 3 new positions and closed 0 in Q1 2025.
- H/2 Credit Manager's portfolio value fell 3.8% quarter-over-quarter to $376M.
Based on H/2 Credit Manager's 13F filing for Q1 2025, filed 15 May 2025.