In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Conversant Capital LLC reported 14 stock positions worth $427.0 million . Its top holding was Sonida Senior Living (SNDA) at 48.2% of the portfolio, followed by Target Hospitality (TH, 12.8% ) and NPK International (NPKI, 6.7% ). Compared with Q4 2023, it opened 6 new positions, sold out of 2, added to 3 and reduced 4. The biggest buy was Sonida Senior Living (SNDA, shares +78% ) and the biggest sale an exit from Rexford Industrial Realty (REXR).
Location SUMMIT, NJ
CIK 0001850901
Portfolio Value $427.0M (Q1 2024) Holdings 14 stocks · $427.0M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2023 SNDA Sonida Senior Living Inc. 7,210,877 $206.0M Add +77.9% TH Target Hospitality Corp. 5,042,960 $54.8M Add +6.9% NPKI NPK International Inc. filed as NEWPARK RES INC 3,956,852 $28.6M Reduce -11.2% PFSI Pennymac Financial Services 280,000 $25.5M Reduce -6.7% DBRG Digitalbridge Group Inc. 1,300,000 $25.1M Reduce -13.3% CCO Clear Channel Outdoor Holdin 9,025,256 $14.9M Add +2.9% SITC Site Centers Corp. filed as SITE CTRS CORP 918,000 $13.4M New NMIH Nmi Holdings Inc. filed as NMI HLDGS INC 385,000 $12.5M New AHR American Healthcare REIT Inc. 775,000 $11.4M New RSI Rush Street Interactive Inc. 1,683,180 $11.0M New NLOP Net Lease Office Property 434,527 $10.3M New OUT Outfront Media Inc. 399,800 $6.7M Reduce -60.0% UHG United Homes Group Inc. 535,173 $3.7M No change SN Sharkninja Inc. 50,000 $3.1M New
Options reported separately and not counted above: IWM puts ($126.2M), IEF puts ($75.7M), KRE puts ($47.8M), FLG puts ($3.8M).
Portfolio Sells Q4 2023 → Q1 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2023 % Of Portfolio Change To Portfolio ▲ REXR Rexford Industrial Realty Inc. Sold out 0.00% −7.21 NPKI NPK International Inc. Reduce -11.2% 6.69% −5.99 RPC Ridgepost Capital Inc. Class A Sold out 0.00% −5.67 DBRG Digitalbridge Group Inc. Reduce -13.3% 5.87% −5.41 PFSI Pennymac Financial Services Reduce -6.7% 5.97% −5.39 OUT Outfront Media Inc. Reduce -60.0% 1.57% −4.41
Portfolio Buys Q4 2023 → Q1 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2023 % Of Portfolio Change To Portfolio ▼ SNDA Sonida Senior Living Inc. Add +77.9% 48.24% +30.87 SITC Site Centers Corp. New 3.15% +3.15 NMIH Nmi Holdings Inc. New 2.92% +2.92 AHR American Healthcare REIT Inc. New 2.68% +2.68 RSI Rush Street Interactive Inc. New 2.57% +2.57 NLOP Net Lease Office Property New 2.42% +2.42 SN Sharkninja Inc. New 0.73% +0.73 CCO Clear Channel Outdoor Holdin Add +2.9% 3.49% −3.36 TH Target Hospitality Corp. Add +6.9% 12.84% −6.84
Options Activity Q4 2023 → Q1 2024 Security Type Change vs Q4 2023 Underlying Shares Value ▼ IWM iShares Russell 2000 ETF put New 600,000 $126.2M IEF iShares 7-10 Year Treasury B put New 800,000 $75.7M KRE SS SPDR S&P Regional Bank put New 950,000 $47.8M FLG New York Community Bancorp put New 1,170,000 $3.8M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 16 $851.9M SNDA, COMP, CTRI, INVH, JAN Q1 2026 15 $724.2M SNDA, INVH, JAN, CCI, SMA Q4 2025 12 $526.3M SNDA, RITM, CTRI, GNL, HPP Q3 2025 8 $478.1M SNDA, CTRI, RITM, GNL, WD Q2 2025 Amended 13 $525.8M SNDA, RITM, SMA, SILA, GNL Q1 2025 16 $490.6M SNDA, SILA, RITM, JLL, SITC Q4 2024 11 $476.4M SNDA, TH, SILA, RITM, NPKI Q3 2024 14 $535.6M SNDA, SILA, RITM, TH, SITC Q2 2024 14 $455.9M SNDA, TH, NPKI, SITC, PFSI Q1 2024 14 $427.0M SNDA, TH, NPKI, PFSI, DBRG