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H/2 CREDIT MANAGER LP

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13F filer, CIK 1813784, STAMFORD, CT

H/2 CREDIT MANAGER LP reported $526,349,000 across 16 holdings for the quarter ended 2026-06-30, in a 13F-HR filed 2026-08-14. Its ten largest share positions make up 93.89% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001813784-26-000006

Period
2026-06-30
Reported value
$526M
Holdings
16
Top 10 weight
93.89%
New
0
Sold out
3

Largest buys vs the previous quarter

SecurityShares changeApprox. value
SHOadded+598,184$6.85M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
VREexited-5,472,814-$103M
DHCreduced-2,100,000-$19.5M
PEBBLEBROOK HOTEL TRexited-246,483-$4.76M
PEBBLEBROOK HOTEL TRexited-104,015-$2M
DRHreduced-92,866-$1.13M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2026

Share positions as resolved from 13F-HR 0001813784-26-000006, largest first. % of portfolio is the value over $526,349,000, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
DHCDIVERSIFIED HEALTHCARE TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 14,917,366 shares; 2024Q4: 14,917,366 shares; 2025Q1: 14,917,366 shares; 2025Q2: 14,917,366 shares; 2025Q3: 14,917,366 shares; 2025Q4: 14,917,366 shares; 2026Q1: 14,917,366 shares; 2026Q2: 12,817,366 shares 12,817,366$119M22.65%-2,100,000Timeline
RLJRLJ LODGING TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 6,304,257 shares; 2024Q4: 6,304,257 shares; 2025Q1: 6,304,257 shares; 2025Q2: 6,304,257 shares; 2025Q3: 6,304,257 shares; 2025Q4: 9,583,184 shares; 2026Q1: 9,583,184 shares; 2026Q2: 9,583,184 shares 9,583,184$114M21.58%0Timeline
INNSUMMIT HOTEL PPTYSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 7,167,331 shares; 2024Q4: 8,909,500 shares; 2025Q1: 8,909,500 shares; 2025Q2: 9,359,500 shares; 2025Q3: 9,359,500 shares; 2025Q4: 9,126,700 shares; 2026Q1: 9,126,700 shares; 2026Q2: 9,126,700 shares 9,126,700$64M12.16%0Timeline
DRHDIAMONDROCK HOSPITALITY COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 2,741,445 shares; 2024Q4: 3,741,445 shares; 2025Q1: 5,075,150 shares; 2025Q2: 5,075,150 shares; 2025Q3: 5,075,150 shares; 2025Q4: 4,075,150 shares; 2026Q1: 4,075,150 shares; 2026Q2: 3,982,284 shares 3,982,284$48.5M9.22%-92,866Timeline
PKPARK HOTELS & RESORTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 3,428,750 shares; 2024Q4: 3,428,750 shares; 2025Q1: 3,903,750 shares; 2025Q2: 3,903,750 shares; 2025Q3: 3,903,750 shares; 2025Q4: 3,162,710 shares; 2026Q1: 3,162,710 shares; 2026Q2: 3,162,710 shares 3,162,710$45.1M8.56%0Timeline
SHOSUNSTONE HOTEL INVS INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 2,188,210 shares; 2024Q4: 2,788,210 shares; 2025Q1: 2,988,210 shares; 2025Q2: 2,988,210 shares; 2025Q3: 2,988,210 shares; 2025Q4: 2,788,210 shares; 2026Q1: 2,788,210 shares; 2026Q2: 3,386,394 shares 3,386,394$38.8M7.37%+598,184Timeline
BXPBXP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 268,110 shares; 2026Q1: 268,110 shares; 2026Q2: 268,110 shares 268,110$17.8M3.38%0Timeline
SBRASABRA HEALTH CARE REIT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 900,000 shares; 2024Q4: 900,000 shares; 2025Q1: 900,000 shares; 2025Q2: 900,000 shares; 2025Q3: 900,000 shares; 2025Q4: 900,000 shares; 2026Q1: 900,000 shares; 2026Q2: 900,000 shares 900,000$17.6M3.34%0Timeline
KRGKITE REALTY GROUP TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 560,000 shares; 2025Q4: 560,000 shares; 2026Q1: 560,000 shares; 2026Q2: 560,000 shares 560,000$15.9M3.02%0Timeline
HSTHOST HOTELS & RESORTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 586,032 shares; 2024Q4: 586,032 shares; 2025Q1: 586,032 shares; 2025Q2: 586,032 shares; 2025Q3: 586,032 shares; 2025Q4: 586,032 shares; 2026Q1: 586,032 shares; 2026Q2: 586,032 shares 586,032$13.9M2.64%0Timeline
HHHHOWARD HUGHES HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 140,268 shares; 2026Q1: 140,268 shares; 2026Q2: 140,268 shares 140,268$10M1.91%0Timeline
CLDTCHATHAM LODGING TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 595,000 shares; 2024Q4: 595,000 shares; 2025Q1: 595,000 shares; 2025Q2: 595,000 shares; 2025Q3: 595,000 shares; 2025Q4: 595,000 shares; 2026Q1: 595,000 shares; 2026Q2: 595,000 shares 595,000$7.87M1.5%0Timeline
KIMKIMCO REALTY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 357,500 shares; 2024Q4: 357,500 shares; 2025Q1: 357,500 shares; 2025Q2: 357,500 shares; 2025Q3: 357,500 shares; 2025Q4: 300,000 shares; 2026Q1: 300,000 shares; 2026Q2: 300,000 shares 300,000$7.61M1.44%0Timeline
BRXBRIXMOR PPTY GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 200,000 shares; 2024Q4: 200,000 shares; 2025Q1: 200,000 shares; 2025Q2: 200,000 shares; 2025Q3: 200,000 shares; 2025Q4: 200,000 shares; 2026Q1: 200,000 shares; 2026Q2: 200,000 shares 200,000$6.31M1.2%0Timeline
ALXALEXANDERS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 65,322 shares; 2025Q2: 1,000 shares; 2025Q3: 1,000 shares; 2025Q4: 1,000 shares; 2026Q1: 1,000 shares; 2026Q2: 1,000 shares 1,000$276K0.05%0Timeline
RLJ LODGING TRRLJ LODGING TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 2,000 shares; 2024Q4: 2,000 shares; 2025Q1: 2,000 shares; 2025Q2: 2,000 shares; 2025Q3: 2,000 shares; 2025Q4: 2,000 shares; 2026Q1: 2,000 shares; 2026Q2: 2,000 shares 2,000$49K0.01%0

Sold out in Q2 2026

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
VREVERIS RESIDENTIAL INC5,472,814$103Mshares
PEBBLEBROOK HOTEL TRPEBBLEBROOK HOTEL TR246,483$4.76Mshares
PEBBLEBROOK HOTEL TRPEBBLEBROOK HOTEL TR104,015$2Mshares

How Q2 2026 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001813784-26-000006 base2026-08-14acceptance time not in the bulk data set

Filings

Every filing of this filer: 13F reports and notices, the 13D and 13G it filed or is a reporting person of, and Forms 3, 4 and 5 it reported as an owner.

FilingSubjectFiledAcceptedIngested
13F-HR 0001813784-26-000006 Quarter ended 2026-06-302026-08-14acceptance time not in the bulk data set
13F-HR 0001813784-26-000005 Quarter ended 2026-03-312026-05-15acceptance time not in the bulk data set
13F-HR 0001813784-26-000003 Quarter ended 2025-12-312026-02-17acceptance time not in the bulk data set
13F-HR 0001813784-25-000008 Quarter ended 2025-09-302025-11-14acceptance time not in the bulk data set
13F-HR 0001813784-25-000006 Quarter ended 2025-06-302025-08-14acceptance time not in the bulk data set
13F-HR 0001813784-25-000005 Quarter ended 2025-03-312025-05-15acceptance time not in the bulk data set
13F-HR 0001813784-25-000001 Quarter ended 2024-12-312025-02-14acceptance time not in the bulk data set
13F-HR 0001813784-24-000006 Quarter ended 2024-09-302024-11-14acceptance time not in the bulk data set
13F-HR 0001813784-24-000004 Quarter ended 2024-06-302024-08-14acceptance time not in the bulk data set
13F-HR 0001813784-24-000003 Quarter ended 2024-03-312024-05-15acceptance time not in the bulk data set
13F-HR 0001813784-24-000001 Quarter ended 2023-12-312024-02-14acceptance time not in the bulk data set
13F-HR 0001813784-23-000005 Quarter ended 2023-09-302023-11-14acceptance time not in the bulk data set
13F-HR 0001813784-23-000004 Quarter ended 2023-06-302023-08-14acceptance time not in the bulk data set
13F-HR 0001813784-23-000003 Quarter ended 2023-03-312023-05-15acceptance time not in the bulk data set
13F-HR 0001813784-23-000001 Quarter ended 2022-12-312023-02-14acceptance time not in the bulk data set
13F-HR 0001813784-22-000006 Quarter ended 2022-09-302022-11-14acceptance time not in the bulk data set
13F-HR 0001813784-22-000005 Quarter ended 2022-06-302022-08-15acceptance time not in the bulk data set
13F-HR 0001813784-22-000003 Quarter ended 2022-03-312022-05-16acceptance time not in the bulk data set
13F-HR 0001813784-22-000002 Quarter ended 2021-12-312022-02-14acceptance time not in the bulk data set
13F-HR 0001813784-21-000006 Quarter ended 2021-09-302021-11-15acceptance time not in the bulk data set
13F-HR 0001813784-21-000005 Quarter ended 2021-06-302021-08-16acceptance time not in the bulk data set
13F-HR 0001813784-21-000004 Quarter ended 2021-03-312021-05-17acceptance time not in the bulk data set
13F-HR 0001813784-21-000002 Quarter ended 2020-12-312021-02-16acceptance time not in the bulk data set