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Livermore
Livermore
ZHEN

H/2 Credit Manager LP

SEC CIK
0001813784
Latest filing
Aug 14, 2026

The latest 13F from H/2 Credit Manager LP covers Q2 2026 (filed Aug 14, 2026): 16 long positions worth $526.3M. The top 10 holdings make up 93.9% of the portfolio, and the largest is Diversified Healthcare Trust (DHC) at 22.6%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
0
Added
1
Est. +$6.85M
Reduced
2
Est. −$20.7M
Sold out
3
Est. −$110.0M

Top 5 holdings

Share of this quarter's portfolio value

  1. DHCDiversified Healthcare Trust
    22.6%$119.2MHistory
  2. RLJRLJ Lodging Trust
    21.6%$113.6MHistory
  3. INNSummit Hotel Properties, Inc.
    12.2%$64.0MHistory
  4. DRHDiamondRock Hospitality Co
    9.2%$48.5MHistory
  5. PKPark Hotels & Resorts Inc.
    8.6%$45.1MHistory

Share of portfolio

Top 5 holdings and the other 11 positions, by share of portfolio value

  1. DHC22.6%
  2. RLJ21.6%
  3. INN12.2%
  4. DRH9.2%
  5. PK8.6%
  6. Other 11 positions25.8%

Biggest buys

New and added positions, by estimated amount bought

  1. SHOSunstone Hotel Investors, Inc.
    +$6.85MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. SHOSunstone Hotel Investors, Inc.
    +2.34 pp5.0% → 7.4%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. VREVeris Residential, Inc.
    −$103.3MSold outHistory
  2. DHCDiversified Healthcare Trust
    −$19.5MReducedHistory
  3. PEB.PFPebblebrook Hotel Trust
    −$4.76MSold outHistory
  4. PEB.PEPebblebrook Hotel Trust
    −$2.00MSold outHistory
  5. DRHDiamondRock Hospitality Co
    −$1.13MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. VREVeris Residential, Inc.
    −20.67 pp20.7% → 0.0%History
  2. PEB.PFPebblebrook Hotel Trust
    −0.95 pp1.0% → 0.0%History
  3. PEB.PEPebblebrook Hotel Trust
    −0.40 pp0.4% → 0.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$526.3M
+$26.7M (+5.3%) vs. prior quarter
Positions
16
−3 vs. prior quarter
Top 10 concentration
93.9%
Top 10 as share of value
Turnover
1.3%
Q2 2026, one quarter
Average holding period
18.2 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $526.3M (Q2 2026)

Q1 2021: $278.4MQ2 2021: $297.1MQ3 2021: $358.0MQ4 2021: $290.0MQ1 2022: $251.8MQ2 2022: $232.1MQ3 2022: $189.8MQ4 2022: $224.8MQ1 2023: $280.7MQ2 2023: $328.3MQ3 2023: $361.1MQ4 2023: $405.1MQ1 2024: $390.1MQ2 2024: $371.4MQ3 2024: $387.2MQ4 2024: $391.4MQ1 2025: $376.5MQ2 2025: $364.6MQ3 2025: $403.5MQ4 2025: $456.6MQ1 2026: $499.7MQ2 2026: $526.3M
Q1 2021Q2 2026
13F filings of H/2 Credit Manager LP by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 14, 202616$526.3MDHCRLJINNvs. Q1 2026SEC
Q1 2026May 15, 202619$499.7MVREDHCRLJvs. Q4 2025SEC
Q4 2025Feb 17, 202619$456.6MVREDHCRLJvs. Q3 2025SEC
Q3 2025Nov 14, 202517$403.5MDHCVREINNvs. Q2 2025SEC
Q2 2025Aug 14, 202516$364.6MVREDHCINNvs. Q1 2025SEC
Q1 2025May 15, 202516$376.5MVRERLJINNvs. Q4 2024SEC
Q4 2024Feb 14, 202513$391.4MVRERLJINNvs. Q3 2024SEC
Q3 2024Nov 14, 202413$387.2MVREDHCRLJvs. Q2 2024SEC
Q2 2024Aug 14, 202415$371.4MVRERLJPKvs. Q1 2024SEC
Q1 2024May 15, 202415$390.1MRLJVREPKvs. Q4 2023SEC
Q4 2023Feb 14, 202413$405.1MRLJVREDHCvs. Q3 2023SEC
Q3 2023Nov 14, 202313$361.1MVRERLJPKvs. Q2 2023SEC
Q2 2023Aug 14, 202314$328.3MVRERLJPKvs. Q1 2023SEC
Q1 2023May 15, 202313$280.7MVRERLJPKvs. Q4 2022SEC
Q4 2022Feb 14, 202312$224.8MVRERLJPKvs. Q3 2022SEC
Q3 2022Nov 14, 202213$189.8MVRERLJHSTvs. Q2 2022SEC
Q2 2022Aug 15, 202213$232.1MRLJVRERLJ.PAvs. Q1 2022SEC
Q1 2022May 16, 202210$251.8MRLJVREDHCvs. Q4 2021SEC
Q4 2021Feb 14, 202210$290.0MRLJVRESHOvs. Q3 2021SEC
Q3 2021Nov 15, 202112$358.0MRLJVRECPLGvs. Q2 2021SEC
Q2 2021Aug 16, 202110$297.1MRLJVREVERvs. Q1 2021SEC
Q1 2021May 17, 202110$278.4MRLJVREDHC–SEC

13D and 13G filings

Companies where H/2 Credit Manager LP reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

2 companies, largest stake first.

Companies where H/2 Credit Manager LP owns 5% or more
CompanyLatest formStakeChangeFirst filedLatest filingFiling
INNSummit Hotel Properties, Inc.13G/A8.30%8.91M shares–Nov 14, 20242 filingsFeb 14, 2025SEC
RLJRLJ Lodging Trust13G6.30%9.58M sharesNewFeb 17, 20261 filingFeb 17, 2026SEC

Latest filings

7 filings on file made by H/2 Credit Manager LP or listing it as a reporting person, newest first.

Schedule 13D and 13G filings by H/2 Credit Manager LP
CompanyFiled (ET)FormStakeChangeEvent dateFiling
VREVeris Residential, Inc.Aug 14, 20265:07 PM ET13G/A0.00%0 shares−5.90 ppfrom 5.90%Below 5%Jun 30, 2026SEC
VREVeris Residential, Inc.Feb 17, 20264:08 PM ET13G5.90%5.47M shares–Dec 31, 2025SEC
RLJRLJ Lodging TrustFeb 17, 20264:05 PM ET13G6.30%9.58M sharesNewDec 31, 2025SEC
INNSummit Hotel Properties, Inc.Feb 14, 20252:02 PM ET13G/A8.30%8.91M shares–Dec 31, 2024SEC
INNSummit Hotel Properties, Inc.Nov 14, 202413GOld format–New–SEC
VREVeris Residential, Inc.Feb 14, 202413G/AOld format–––SEC
VREVeris Residential, Inc.Feb 13, 202313GOld format–New–SEC