H/2 Credit Manager LP

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), H/2 Credit Manager LP reported 16 stock positions worth $492.9 million. Its top holding was Veris Residential (VRE) at 21.0% of the portfolio, followed by Diversified Healthcare Trust (DHC, 20.1%) and RLJ Lodging Trust (RLJ, 14.4%). Its holdings were unchanged from Q4 2025.

Most Recent 13F
Q2 2026
Location
STAMFORD, CT
CIK
0001813784
Portfolio Value
$492.9M (Q1 2026)
SEC Filing
0001813784-26-000005 ↗ filed May 15, 2026

Holdings Value

0$200.0M$400.0M$600.0M Q1 2024: $390.1M Q1 2024 Q2 2024: $371.3M Q2 2024 Q3 2024: $387.2M Q3 2024 Q4 2024: $391.3M Q4 2024 Q1 2025: $370.3M Q1 2025 Q2 2025: $358.4M Q2 2025 Q3 2025: $396.3M Q3 2025 Q4 2025: $449.9M Q4 2025 Q1 2026: $492.9M $492.9M Q1 2026 Q2 2026: $526.3M Q2 2026

Holdings 16 stocks · $492.9M
VRE Veris Residential Inc. 20.95% 5,472,814 $103.3M No change
DHC Diversified Healthcare Trust 20.10% 14,917,366 $99.1M No change
RLJ RLJ Lodging Trust 14.43% 9,583,184 $71.1M No change
INN Summit Hotel Properties Inc. 8.18% 9,126,700 $40.3M No change
DRH Diamondrock Hospitality Co. 7.75% 4,075,150 $38.2M No change
PK Park Hotels & Resorts Inc. 6.76% 3,162,710 $33.3M No change
SHO Sunstone Hotel Investors Inc. 5.10% 2,788,210 $25.1M No change
SBRA Sabra Health Care REIT Inc. 3.51% 900,000 $17.3M No change
BXP BXP Inc. 2.82% 268,110 $13.9M No change
KRG Kite Realty Group Trust 2.79% 560,000 $13.7M No change
HST Host Hotels & Resorts Inc. 2.28% 586,032 $11.2M No change
HHH Howard Hughes Holdings Inc. 1.80% 140,268 $8.9M No change
KIM Kimco Realty Corp. 1.37% 300,000 $6.7M No change
BRX Brixmor Property Group Inc. 1.17% 200,000 $5.8M No change
CLDT Chatham Lodging Trust 0.95% 595,000 $4.7M No change
ALX Alexander's Inc. 0.05% 1,000 $236K No change
Other holdings (3): bonds, preferreds, convertibles and warrants · $6.8M (not counted above)
SecurityClassShares / PrincipalValueChange
PEBBLEBROOK HOTEL TRUST (PEB 6.3 PERP F) 6.3 CUM PFD SR F 246,483$4.8MNo change
PEBBLEBROOK HOTEL TRUST (PEB 6.375 PERP E) 6.375 PFD SER E 104,015$2.0MNo change
RLJ LODGING TRUST (RLJ 1.95 PERP A) CUM CONV PFD A 2,000$48KNo change

Total filed on the 13F, all lines: $499.7M.

Portfolio Sells Q4 2025 → Q1 2026
None this quarter.

Portfolio Buys Q4 2025 → Q1 2026
None this quarter.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 15$526.3MDHC, RLJ, INN, DRH, PK
Q1 2026 16$492.9MVRE, DHC, RLJ, INN, DRH
Q4 2025 16$449.9MVRE, DHC, RLJ, INN, DRH
Q3 2025 14$396.3MDHC, VRE, INN, RLJ, PK
Q2 2025 13$358.4MVRE, DHC, INN, RLJ, PK
Q1 2025 13$370.3MVRE, RLJ, INN, PK, DRH
Q4 2024 12$391.3MVRE, RLJ, INN, PK, DHC
Q3 2024 12$387.2MVRE, DHC, RLJ, INN, PK
Q2 2024 14$371.3MVRE, RLJ, PK, DHC, INN
Q1 2024 14$390.1MRLJ, VRE, PK, DHC, INN