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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 $376,453,000 across 16 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-15. Its ten largest share positions make up 93.81% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001813784-25-000005

Period
2025-03-31
Reported value
$376M
Holdings
16
Top 10 weight
93.81%
New
3
Sold out
0

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ALXnew+65,322$13.7M
DRHadded+1,333,705$10.3M
PKadded+475,000$5.07M
PEBBLEBROOK HOTEL TRnew+246,483$4.32M
SHOadded+200,000$1.88M

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

None.

Holdings, Q1 2025

Share positions as resolved from 13F-HR 0001813784-25-000005, largest first. % of portfolio is the value over $376,453,000, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
VREVERIS RESIDENTIAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,297,314 shares; 2024Q4: 4,297,314 shares; 2025Q1: 4,297,314 shares 4,297,314$72.7M19.31%0Timeline
RLJRLJ LODGING TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,304,257 shares; 2024Q4: 6,304,257 shares; 2025Q1: 6,304,257 shares 6,304,257$49.7M13.21%0Timeline
INNSUMMIT HOTEL PPTYSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,167,331 shares; 2024Q4: 8,909,500 shares; 2025Q1: 8,909,500 shares 8,909,500$48.2M12.8%0Timeline
PKPARK HOTELS & RESORTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,428,750 shares; 2024Q4: 3,428,750 shares; 2025Q1: 3,903,750 shares 3,903,750$41.7M11.07%+475,000Timeline
DRHDIAMONDROCK HOSPITALITY COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,741,445 shares; 2024Q4: 3,741,445 shares; 2025Q1: 5,075,150 shares 5,075,150$39.2M10.41%+1,333,705Timeline
DHCDIVERSIFIED HEALTHCARE TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 14,917,366 shares; 2024Q4: 14,917,366 shares; 2025Q1: 14,917,366 shares 14,917,366$35.8M9.51%0Timeline
SHOSUNSTONE HOTEL INVS INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,188,210 shares; 2024Q4: 2,788,210 shares; 2025Q1: 2,988,210 shares 2,988,210$28.1M7.47%+200,000Timeline
SBRASABRA HEALTH CARE REIT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 900,000 shares; 2024Q4: 900,000 shares; 2025Q1: 900,000 shares 900,000$15.7M4.18%0Timeline
ALXALEXANDERS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 65,322 shares 65,322$13.7M3.63%newTimeline
HSTHOST HOTELS & RESORTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 586,032 shares; 2024Q4: 586,032 shares; 2025Q1: 586,032 shares 586,032$8.33M2.21%0Timeline
KIMKIMCO REALTY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 357,500 shares; 2024Q4: 357,500 shares; 2025Q1: 357,500 shares 357,500$7.59M2.02%0Timeline
BRXBRIXMOR PPTY GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 200,000 shares; 2024Q4: 200,000 shares; 2025Q1: 200,000 shares 200,000$5.31M1.41%0Timeline
PEBBLEBROOK HOTEL TRPEBBLEBROOK HOTEL TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 246,483 shares 246,483$4.32M1.15%new
CLDTCHATHAM LODGING TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 595,000 shares; 2024Q4: 595,000 shares; 2025Q1: 595,000 shares 595,000$4.24M1.13%0Timeline
PEBBLEBROOK HOTEL TRPEBBLEBROOK HOTEL TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 104,015 shares 104,015$1.78M0.47%new
RLJ LODGING TRRLJ LODGING TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,000 shares; 2024Q4: 2,000 shares; 2025Q1: 2,000 shares 2,000$49K0.01%0

How Q1 2025 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 0001813784-25-000005 base2025-05-15acceptance time not in the bulk data set