Data as of Q4 2025 (Dec 31, 2025)

Conversant Capital LLC

•CIK: 1850901•Filing: Q4 2025

**Conversant Capital LLC** manages $526M across a concentrated portfolio of 13 positions. The fund exhibits a significant overweighting in **SNDA**, representing $302.1M of its total assets. Notable allocations include substantial positions in **RITM** ($35.5M) and **CTRI** ($35.4M). This structure indicates a focused, high-conviction approach targeting specific market segments.

Total AUM
$526.5M
QoQ Performance
+10.1%
Positions
13
Top 10 Concentration
98.9%
Latest Filing
Q4 2025

Top Holdings Allocation

SNDA
RITM
CTRI
GNL
HPP
SNDA57.4%
RITM6.7%
CTRI6.7%
GNL6.2%
HPP5.4%
WD4.8%
NSA4.2%
COLD3.7%

📈 Biggest Buys

HPP
Hudson Pacific Properties Inc
NEW
5.4% of portfolio
NSA
National Storage Affiliates Trust
NEW
4.2% of portfolio
COLD
Americold Realty Trust Inc
NEW
3.7% of portfolio
AVB
AvalonBay Communities Inc
NEW
1.1% of portfolio
UDR
UDR Inc
NEW
1.0% of portfolio

📉 Biggest Sells

CTRI
Centuri Holdings Inc
-46.5%
6.7% of portfolio
GNL
Global Net Lease Inc
-26.6%
6.2% of portfolio
RITM
Rithm Capital Corp
-16.3%
6.7% of portfolio

Sector Breakdown

Other98.9%
Real Estate1.1%

🚪 Exited Positionssold since Q3 2025

TLT
ISHARES TR
SOLD
$111.7M
—
Hudson Pacific Properties Inc
SOLD
$22.8M
SILA
Sila Realty Trust Inc
SOLD
$14.9M

Changes from Q3 2025

NEW6 new positions
↑2 increased
↓3 decreased

Historical Filings

Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023

📌 Top Holdings

SNDA57.4%
Sonida Senior Living Inc
$302.1M
RITM6.7%
Rithm Capital Corp
$35.5M
CTRI6.7%
Centuri Holdings Inc
$35.4M
GNL6.2%
Global Net Lease Inc
$32.7M
HPP5.4%
Hudson Pacific Properties Inc
$28.2M

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