DIVERSIFIED HEALTHCARE TR DHC
COM SH BEN INT · REIT · CUSIP 25525P107
- SectorReal estate
- IndustryReal Estate Investment Trusts
- HeadquartersNewton, MA
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($89.9k this quarter). Holder counts are more reliable. Shares outstanding: 241.3m as of 2025-04-30, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $2.43. Options: 7 managers hold calls ($1.2m notional), 9 hold puts ($2.4m).
Trends to Q1 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 219 |
| Q4 2022 | 181 |
| Q1 2023 | 172 |
| Q2 2023 | 160 |
| Q3 2023 | 177 |
| Q4 2023 | 179 |
| Q1 2024 | 187 |
| Q2 2024 | 191 |
| Q3 2024 | 194 |
| Q4 2024 | 205 |
| Q1 2025 | 205 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2023 | 59 | 91 |
| Q3 2023 | 80 | 69 |
| Q4 2023 | 79 | 81 |
| Q1 2024 | 70 | 76 |
| Q2 2024 | 77 | 87 |
| Q3 2024 | 82 | 78 |
| Q4 2024 | 92 | 75 |
| Q1 2025 | 81 | 94 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2024 | $1.9m | $2.4m | 1.30 |
| Q3 2024 | $4.0m | $4.7m | 1.19 |
| Q4 2024 | $2.1m | $2.6m | 1.24 |
| Q1 2025 | $1.2m | $2.4m | 1.96 |
Biggest buyers
| Park West Asset Management LLC | New | +3.6m |
| GOLDMAN SACHS GROUP INC | Added | +2.4m |
| Hudson Bay Capital Management LP | New | +2.0m |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | Added | +1.0m |
| CARRONADE CAPITAL MANAGEMENT, LP | New | +235.0k |
| CIBC WORLD MARKETS CORP | Added | +228.0k |
| PRUDENTIAL FINANCIAL INC | Added | +173.6k |
| ARISTEIA CAPITAL, L.L.C. | New | +163.1k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | +145.2k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Added | +126.6k |
Biggest sellers
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | Reduced | -1.3m |
| Union Square Park Capital Management, LLC | Sold out | -925.0k |
| D. E. Shaw & Co., Inc. | Reduced | -729.0k |
| ALLIANCEBERNSTEIN L.P. | Reduced | -720.9k |
| LONESTAR CAPITAL MANAGEMENT LLC | Reduced | -699.1k |
| NOMURA HOLDINGS INC | Reduced | -566.6k |
| CastleKnight Management LP | Reduced | -489.2k |
| CITADEL ADVISORS LLC | Reduced | -475.0k |
| JPMORGAN CHASE & CO | Reduced | -394.4k |
| Garner Asset Management Corp | Sold out | -363.7k |
Biggest calls
| Parallax Volatility Advisers, L.P. | Reduced | $480.0k200.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $406.1k169.2k shares |
| GROUP ONE TRADING LLC | Reduced | $129.6k54.0k shares |
| CITADEL ADVISORS LLC | Reduced | $127.4k53.1k shares |
| SIMPLEX TRADING, LLC | Reduced | $62.0k25.9k shares |
| Black Maple Capital Management LP | New | $720300 shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| NOMURA HOLDINGS INC | Unchanged | $1.3m525.2k shares |
| Squarepoint Ops LLC | Unchanged | $506.9k211.2k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $181.7k75.7k shares |
| CITADEL ADVISORS LLC | Reduced | $176.2k73.4k shares |
| GROUP ONE TRADING LLC | Reduced | $113.8k47.4k shares |
| JANE STREET GROUP, LLC | Reduced | $48.0k20.0k shares |
| SIMPLEX TRADING, LLC | Reduced | $40.0k17.0k shares |
| WOLVERINE TRADING, LLC | Reduced | $39.8k16.1k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| Flat Footed LLC 13G · institution -0.1 pts · filed 2026-08-14 | 9.7% |
| BlackRock, Inc. 13G · institution filed 2026-07-28 | 8.9% |
Fell to 5% or below in the last year: H/2 Special Opportunities IV L.P. (5.0%, 2026-08-12), VANGUARD GROUP INC (0.0%, 2026-03-26)
Insider purchases and sales in Q1 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q2 2023 | 1 | $46.8m | 0 | — | — |
| Q3 2023 | 0 | — | 0 | — | — |
| Q4 2023 | 0 | — | 0 | — | — |
| Q1 2024 | 0 | — | 0 | — | — |
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 1 | $5.1k | 0 | — | — |
| Q1 2025 | 0 | — | 0 | — | — |
None reported in Q1 2025.
Holders, Q1 2025
| Manager | Shares | Change |
|---|---|---|
| Flat Footed LLC 20.90% of their portfolio | 23.5m $56.4m | Unchanged |
| VANGUARD GROUP INC 0.00% of their portfolio | 19.7m $47.3m | Reduced -20.4k |
| BlackRock, Inc. 0.00% of their portfolio | 19.4m $46.6m | Reduced -239.0k |
| Silver Point Capital L.P. 3.55% of their portfolio | 15.5m $37.2m | Unchanged |
| H/2 CREDIT MANAGER LP 9.51% of their portfolio | 14.9m $35.8m | Unchanged |
| D. E. Shaw & Co., Inc. 0.03% of their portfolio | 10.3m $24.6m | Reduced -729.0k |
| NOMURA HOLDINGS INC 0.13% of their portfolio | 10.2m $24.5m | Reduced -566.6k |
| STATE STREET CORP 0.00% of their portfolio | 6.7m $16.0m | Reduced -72.8k |
| BlackBarn Capital Partners LP 5.12% of their portfolio | 6.2m $15.0m | Unchanged |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 5.8m $13.9m | Added +106.0k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.03% of their portfolio | 5.0m $12.0m | Added +1.0m |
| LONESTAR CAPITAL MANAGEMENT LLC 12.23% of their portfolio | 4.1m $9.8m | Reduced -699.1k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 3.9m $9.3m | Added +2.4m |
| Park West Asset Management LLC 0.70% of their portfolio | 3.6m $8.6m | New |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 2.9m $6.9m | Reduced -1.3m |
| NORTHERN TRUST CORP 0.00% of their portfolio | 2.1m $5.0m | Reduced -53.5k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 2.1m $4.9m | Reduced -8.6k |
| Hudson Bay Capital Management LP 0.03% of their portfolio | 2.0m $4.8m | New |
| PRUDENTIAL FINANCIAL INC 0.01% of their portfolio | 2.0m $4.7m | Added +173.6k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.00% of their portfolio | 1.5m $3.7m | Added +126.6k |
| RBF Capital, LLC 0.21% of their portfolio | 1.4m $3.3m | Added +59.0k |
| CastleKnight Management LP 0.35% of their portfolio | 1.4m $3.3m | Reduced -489.2k |
| MORGAN STANLEY 0.00% of their portfolio | 977.0k $2.3m | Reduced -29.7k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 839.4k $2.0m | Reduced -394.4k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 753.9k $1.8m | Reduced -9.4k |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 739.5k $1.8m | Reduced -34.9k |
| Nuveen, LLC 0.00% of their portfolio | 697.3k $1.7m | First filing |
| CIBC WORLD MARKETS CORP 0.01% of their portfolio | 658.5k $1.6m | Added +228.0k |
| Invesco Ltd. 0.00% of their portfolio | 657.4k $1.6m | Reduced -115.1k |
| MIZUHO MARKETS AMERICAS LLC 0.03% of their portfolio | 500.0k $1.2m | Unchanged |
| Nierenberg Investment Management Company, LLC 0.64% of their portfolio | 456.1k $1.1m | Unchanged |
| TWO SIGMA ADVISERS, LP 0.00% of their portfolio | 423.5k $1.0m | Reduced -344.2k |
| Quinn Opportunity Partners LLC 0.07% of their portfolio | 414.7k $995.2k | Added +80.0k |
| BRIGADE CAPITAL MANAGEMENT, LP 1.19% of their portfolio | 400.0k $960.0k | Unchanged |
| WOLVERINE ASSET MANAGEMENT LLC 0.02% of their portfolio | 395.2k $948.5k | Reduced -3.8k |
| ALGERT GLOBAL LLC 0.02% of their portfolio | 390.8k $937.8k | Added +39.7k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 381.5k $915.6k | Reduced -33.3k |
| Aberdeen Group plc 0.00% of their portfolio | 357.7k $858.5k | Unchanged |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.00% of their portfolio | 339.2k $814.0k | Reduced -3.2k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 336.6k $807.8k | Reduced -47.9k |
| Asset Management One Co., Ltd. 0.00% of their portfolio | 333.2k $799.6k | Added +8.0k |
| Swiss National Bank 0.00% of their portfolio | 330.8k $793.9k | Unchanged |
| UBS Group AG 0.00% of their portfolio | 324.9k $779.7k | Added +110.5k |
| NOMURA ASSET MANAGEMENT CO LTD 0.00% of their portfolio | 278.5k $668.4k | Unchanged |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 276.1k $662.6k | Added +145.2k |
| CANADA LIFE ASSURANCE Co 0.00% of their portfolio | 274.7k $660.0k | Added +30.1k |
| Sumitomo Mitsui Trust Group, Inc. 0.00% of their portfolio | 262.7k $630.4k | Added +37.5k |
| BARCLAYS PLC 0.00% of their portfolio | 255.6k $613.3k | Reduced -108.5k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 249.2k $598.0k | Reduced -720.9k |
| CARRONADE CAPITAL MANAGEMENT, LP 0.95% of their portfolio | 235.0k $5.9m | New |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 233.2k $559.7k | Added +24.5k |
| ING GROEP NV 0.00% of their portfolio | 200.0k $480.0k | Unchanged |
| CITIGROUP INC 0.00% of their portfolio | 189.6k $455.1k | Reduced -1.7k |
| CAXTON ASSOCIATES LLP 0.02% of their portfolio | 188.7k $452.9k | First filing |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 187.4k $450.0k | Added +29.3k |
| Legal & General Group Plc 0.00% of their portfolio | 180.6k $433.4k | Reduced -1.4k |
| Black Maple Capital Management LP 0.34% of their portfolio | 180.4k $433.0k | Added +25.0k |
| ARISTEIA CAPITAL, L.L.C. 0.01% of their portfolio | 163.1k $391.4k | New |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 160.9k $386.1k | Unchanged |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.00% of their portfolio | 155.4k $372.9k | Added +18.3k |
| INTECH INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 150.6k $361.3k | Added +47.0k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.00% of their portfolio | 148.7k $357.0k | Unchanged |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 141.5k $339.6k | Added +2.1k |
| Inspire Investing, LLC 0.04% of their portfolio | 140.2k $336.5k | Reduced -35.0k |
| MetLife Investment Management, LLC 0.00% of their portfolio | 133.7k $320.9k | Added +35.1k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 130.8k $313.8k | Added +5.5k |
| VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 130.2k $312.4k | Added +55.1k |
| Allianz Asset Management GmbH 0.00% of their portfolio | 124.0k $297.5k | New |
| Pekin Hardy Strauss, Inc. 0.04% of their portfolio | 121.7k $292.0k | Added +4.0k |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 118.8k $285.1k | Reduced -187.4k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 118.2k $283.6k | Reduced -41.2k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 114.1k $273.9k | Reduced -97.6k |
| SOUTHPORT MANAGEMENT, L.L.C. 1.14% of their portfolio | 110.0k $264.0k | Added +20.0k |
| Corebridge Financial, Inc. 0.00% of their portfolio | 107.0k $256.8k | Reduced -1.6k |
| State of Alaska, Department of Revenue 0.00% of their portfolio | 104.8k $250.0k | Unchanged |
| Squarepoint Ops LLC 0.00% of their portfolio | 104.2k $250.1k | Reduced -157.1k |
| OMERS ADMINISTRATION Corp 0.00% of their portfolio | 100.1k $240.2k | Unchanged |
| Resona Asset Management Co.,Ltd. 0.00% of their portfolio | 94.5k $232.9k | Added +10.6k |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 84.0k $201.6k | New |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.00% of their portfolio | 83.4k $200.1k | Reduced -48.4k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 78.0k $187.3k | Reduced -2.5k |
| JANUS HENDERSON GROUP PLC 0.00% of their portfolio | 74.6k $183.1k | Unchanged |
| Daiwa Securities Group Inc. 0.00% of their portfolio | 73.6k $177.0k | Unchanged |
| Graham Capital Management, L.P. 0.01% of their portfolio | 71.5k $171.6k | Added +6.6k |
| SG Americas Securities, LLC 0.00% of their portfolio | 69.0k $166.0k | Reduced -47.8k |
| One Wealth Map LLC 0.10% of their portfolio | 68.0k $151.6k | Unchanged |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio | 62.6k $150.2k | Added +20.7k |
| FMR LLC 0.00% of their portfolio | 59.6k $143.1k | Added +1.6k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 57.4k $137.7k | Reduced -475.0k |
| CIM INVESTMENT MANAGEMENT INC 0.03% of their portfolio | 56.2k $134.8k | Reduced -1.3k |
| FIDELIS CAPITAL PARTNERS, LLC 0.01% of their portfolio | 54.1k $122.7k | Added +78 |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 53.3k $128.0k | Unchanged |
| NISA INVESTMENT ADVISORS, LLC 0.00% of their portfolio | 52.7k $126.5k | Reduced -12.8k |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 51.4k $123.2k | Reduced -129.3k |
| ARIZONA STATE RETIREMENT SYSTEM 0.00% of their portfolio | 48.4k $116.1k | Reduced -319 |
| ProShare Advisors LLC 0.00% of their portfolio | 47.3k $113.5k | Reduced -14.2k |
| Police & Firemen's Retirement System of New Jersey 0.00% of their portfolio | 47.2k $113.2k | Unchanged |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 44.3k $106.0k | Reduced -6.8k |
| STRS OHIO 0.00% of their portfolio | 42.8k $102.7k | Unchanged |
| SEI INVESTMENTS CO 0.00% of their portfolio | 41.3k $99.1k | Added +18.8k |