Conversant Capital LLC 13F: Quarter-over-Quarter Portfolio Changes
Conversant Capital LLC reported a disclosed portfolio value of approximately $745.1 million in its latest SEC Form 13F-HR filing for Q1 2026, up 41.5% quarter on quarter. Over the quarter, the fund initiated 9 new positions, bought more shares in 3 holdings, trimmed 3 holdings, and exited 6 positions.
Conversant Capital LLC's top buy was a new stake in Invitation Homes INC (INVH) , equal to 4.2% of the disclosed portfolio. Its top sell was Global Net Lease INC (GNL) . The fund exited the position completely after it had accounted for 6.2% of the previous portfolio.
New PositionsQ1 2026
Securities disclosed for the first time in Q1 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| INVITATION HOMES INC | INVH | 4.2% | History → |
| JANUS LIVING INC | JAN | 3.8% | History → |
| CROWN CASTLE INC | CCI | 3.6% | History → |
| SMARTSTOP SELF STORAG REIT I | SMA | 3.5% | History → |
| CDNL | CDNL | 2.5% | History → |
| DRIVEN BRANDS HLDGS INC | DRVN | 1.7% | Holders → |
| KKR REAL ESTATE FIN TR INC | KREF | 1.2% | Holders → |
| HYATT HOTELS CORP | H | 1.2% | Holders → |
| ARKO PETROLEUM CL A ORD | APC | 0.7% | Holders → |
Top BuysQ1 2026
The fund's top buys among existing positions in Q1 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| RITHM ACQUISITION EQY WARRANT | RAC/WS | +0.0% | +160.5% | — |
| SONIDA SENIOR LIVING INC | SNDA | +5.8% | +57.7% | History → |
| WALKER & DUNLOP ORD | WD | +-1.5% | +33.0% | History → |
Top SellsQ1 2026
The fund's top sells among positions it retained in Q1 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| CENTURI HOLDINGS INC | CTRI | -3.4% | 38.9% | History → |
| AMERICOLD REALTY TRUST INC | COLD | -2.0% | 26.7% | Holders → |
| RITHM CAPITAL ORD | RITM | -3.6% | 23.2% | History → |
Full ExitsQ1 2026
Positions present in the prior 13F-HR filing that no longer appear in Q1 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| GLOBAL NET LEASE INC | GNL | 6.2% |
| HUDSON PACIFIC PROPERTIES IN | HPP | 5.4% |
| NATIONAL STORAGE AFFILIATES | NSA | 4.2% |
| INDEPENDENCE RLTY TR INC | IRT | 2.8% |
| AVALONBAY CMNTYS INC | AVB | 1.1% |
| UDR INC | UDR | 1.0% |
Net Portfolio Value ChangeQ1 2026
- $0.5BPrior quarter
- $0.7BCurrent quarter
- +$0.2BNet delta
- +41.5%% change
Methodology & FAQ
How Conversant Capital LLC Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for Conversant Capital LLC: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description — including how confidential treatment filings are handled — is documented in the Methodology.
What stocks did Conversant Capital LLC buy in Q1 2026?
In Q1 2026, Conversant Capital LLC initiated 9 new positions (INVITATION HOMES INC (INVH), JANUS LIVING INC (JAN), CROWN CASTLE INC (CCI), SMARTSTOP SELF STORAG REIT I (SMA), CDNL (CDNL), DRIVEN BRANDS HLDGS INC (DRVN), KKR REAL ESTATE FIN TR INC (KREF), HYATT HOTELS CORP (H), ARKO PETROLEUM CL A ORD (APC)); bought more shares of RITHM ACQUISITION EQY WARRANT (RAC/WS), SONIDA SENIOR LIVING INC (SNDA), WALKER & DUNLOP ORD (WD).
What stocks did Conversant Capital LLC sell in Q1 2026?
In Q1 2026, Conversant Capital LLC fully sold 6 positions (GLOBAL NET LEASE INC (GNL), HUDSON PACIFIC PROPERTIES IN (HPP), NATIONAL STORAGE AFFILIATES (NSA), INDEPENDENCE RLTY TR INC (IRT), AVALONBAY CMNTYS INC (AVB), UDR INC (UDR)); reduced holdings in CENTURI HOLDINGS INC (CTRI), AMERICOLD REALTY TRUST INC (COLD), RITHM CAPITAL ORD (RITM).
Which positions did Conversant Capital LLC initiate in Q1 2026?
Conversant Capital LLC established 9 new positions in Q1 2026: INVITATION HOMES INC (INVH, 4.2%), JANUS LIVING INC (JAN, 3.8%), CROWN CASTLE INC (CCI, 3.6%), SMARTSTOP SELF STORAG REIT I (SMA, 3.5%), CDNL (CDNL, 2.5%), DRIVEN BRANDS HLDGS INC (DRVN, 1.7%), KKR REAL ESTATE FIN TR INC (KREF, 1.2%), HYATT HOTELS CORP (H, 1.2%), ARKO PETROLEUM CL A ORD (APC, 0.7%).
Which existing positions saw the largest allocation increases for Conversant Capital LLC in Q1 2026?
Of 3 existing positions with share-count increases in Q1 2026, the largest were: RITHM ACQUISITION EQY WARRANT (RAC/WS, +0.0% weight, +160.5% shares), SONIDA SENIOR LIVING INC (SNDA, +5.8% weight, +57.7% shares), WALKER & DUNLOP ORD (WD, +-1.5% weight, +33.0% shares).
Which positions did Conversant Capital LLC fully exit in Q1 2026?
Conversant Capital LLC fully exited 6 positions in Q1 2026: GLOBAL NET LEASE INC (GNL, last-reported weight 6.2%), HUDSON PACIFIC PROPERTIES IN (HPP, last-reported weight 5.4%), NATIONAL STORAGE AFFILIATES (NSA, last-reported weight 4.2%), INDEPENDENCE RLTY TR INC (IRT, last-reported weight 2.8%), AVALONBAY CMNTYS INC (AVB, last-reported weight 1.1%), UDR INC (UDR, last-reported weight 1.0%).
Which existing positions saw the largest allocation reductions for Conversant Capital LLC in Q1 2026?
Of 3 existing positions with share-count reductions in Q1 2026, the largest were: CENTURI HOLDINGS INC (CTRI, -3.4% weight, -38.9% shares), AMERICOLD REALTY TRUST INC (COLD, -2.0% weight, -26.7% shares), RITHM CAPITAL ORD (RITM, -3.6% weight, -23.2% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.