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 ($100.5k this quarter). Holder counts are more reliable. Shares outstanding: 242.1m as of 2026-07-31, 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 ≈ $9.30. Options: 7 managers hold calls ($6.9m notional), 6 hold puts ($1.5m).
Trends to Q2 2026
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 |
| Q2 2025 | 198 |
| Q3 2025 | 205 |
| Q4 2025 | 219 |
| Q1 2026 | 232 |
| Q2 2026 | 239 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 82 | 78 |
| Q4 2024 | 92 | 75 |
| Q1 2025 | 81 | 94 |
| Q2 2025 | 85 | 81 |
| Q3 2025 | 91 | 74 |
| Q4 2025 | 106 | 67 |
| Q1 2026 | 127 | 76 |
| Q2 2026 | 132 | 92 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $3.1m | $2.5m | 0.81 |
| Q4 2025 | $5.2m | $3.0m | 0.57 |
| Q1 2026 | $5.5m | $1.4m | 0.24 |
| Q2 2026 | $6.9m | $1.5m | 0.22 |
Biggest buyers
| T. Rowe Price Investment Management, Inc. | Added | +2.7m |
| VANGUARD PORTFOLIO MANAGEMENT LLC | Added | +1.8m |
| FIRST TRUST ADVISORS LP | Added | +1.6m |
| Allianz Asset Management GmbH | Added | +1.2m |
| HENNESSY ADVISORS INC | New | +1.2m |
| GOLDMAN SACHS GROUP INC | Added | +949.9k |
| CARRONADE CAPITAL MANAGEMENT, LP | Added | +870.9k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Added | +686.4k |
| NORTHERN TRUST CORP | Added | +602.7k |
| FRANKLIN RESOURCES INC | New | +559.3k |
Biggest sellers
| BANK OF AMERICA CORP /DE/ | Reduced | -2.4m |
| H/2 CREDIT MANAGER LP | Reduced | -2.1m |
| Park West Asset Management LLC | Reduced | -1.3m |
| NOMURA HOLDINGS INC | Reduced | -1.1m |
| BlackRock, Inc. | Reduced | -802.5k |
| BlackBarn Capital Partners LP | Reduced | -737.4k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | Reduced | -647.1k |
| LONESTAR CAPITAL MANAGEMENT LLC | Reduced | -550.0k |
| Militia Capital Management LLC | Reduced | -433.1k |
| Nuveen, LLC | Reduced | -350.8k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $3.0m322.8k shares |
| JANE STREET GROUP, LLC | Added | $1.7m177.9k shares |
| CITADEL ADVISORS LLC | Added | $1.3m136.2k shares |
| Point72 Asset Management, L.P. | Reduced | $465.0k50.0k shares |
| GROUP ONE TRADING LLC | Reduced | $292.0k31.4k shares |
| IMC-Chicago, LLC | Reduced | $152.5k16.4k shares |
| SIMPLEX TRADING, LLC | New | $32.5k3.5k shares |
Biggest puts
| WOLVERINE ASSET MANAGEMENT LLC | Unchanged | $638.0k68.6k shares |
| JANE STREET GROUP, LLC | Reduced | $324.6k34.9k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $263.2k28.3k shares |
| IMC-Chicago, LLC | Reduced | $175.8k18.9k shares |
| CITADEL ADVISORS LLC | Reduced | $97.7k10.5k shares |
| GROUP ONE TRADING LLC | Reduced | $40.0k4.3k 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 since 1 Apr 2026
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 |
|---|---|---|---|---|---|
| Q4 2024 | 1 | $5.1k | 0 | — | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 0 | — | — |
| Q4 2025 | 1 | $97.8k | 0 | — | — |
| Q1 2026 | 0 | — | 0 | — | — |
| Q2 2026 | 0 | — | 0 | — | — |
| Q3 2026 | 0 | — | 0 | — | — |
None reported since 1 Apr 2026.
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| Flat Footed LLC 37.84% of their portfolio | 23.5m $218.4m | Unchanged |
| BlackRock, Inc. 0.00% of their portfolio | 23.1m $214.6m | Reduced -802.5k |
| Silver Point Capital L.P. 13.09% of their portfolio | 15.5m $144.2m | Unchanged |
| H/2 CREDIT MANAGER LP 22.65% of their portfolio | 12.8m $119.2m | Reduced -2.1m |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.00% of their portfolio | 10.6m $98.5m | Added +1.8m |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 9.7m $90.0m | Added +75.5k |
| STATE STREET CORP 0.00% of their portfolio | 9.0m $83.7m | Added +15.2k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 7.1m $65.7m | Added +452.5k |
| Davidson Kempner Capital Management LP 0.96% of their portfolio | 6.4m $59.6m | Added +161.7k |
| NOMURA HOLDINGS INC 0.25% of their portfolio | 6.3m $58.4m | Reduced -1.1m |
| CARRONADE CAPITAL MANAGEMENT, LP 0.99% of their portfolio | 6.1m $57.1m | Added +870.9k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 5.2m $48.7m | Reduced -647.1k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.07% of their portfolio | 5.0m $46.5m | Unchanged |
| T. Rowe Price Investment Management, Inc. 0.03% of their portfolio | 4.3m $40.4m | Added +2.7m |
| BlackBarn Capital Partners LP 9.42% of their portfolio | 4.1m $37.9m | Reduced -737.4k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.01% of their portfolio | 3.0m $28.3m | Added +686.4k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 3.0m $28.9m | Added +237.5k |
| CENTERSQUARE INVESTMENT MANAGEMENT LLC 0.23% of their portfolio | 2.9m $26.6m | Added +160 |
| NORTHERN TRUST CORP 0.00% of their portfolio | 2.8m $26.1m | Added +602.7k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 2.6m $24.3m | Added +217.9k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 2.4m $22.1m | Reduced -14.0k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 2.2m $20.9m | Added +949.9k |
| Hudson Bay Capital Management LP 0.09% of their portfolio | 2.0m $18.6m | Reduced -4.5k |
| Allianz Asset Management GmbH 0.02% of their portfolio | 1.8m $16.4m | Added +1.2m |
| MORGAN STANLEY 0.00% of their portfolio | 1.7m $16.1m | Added +327.4k |
| FIRST TRUST ADVISORS LP 0.01% of their portfolio | 1.6m $15.2m | Added +1.6m |
| VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio | 1.5m $13.5m | Added +26.4k |
| HENNESSY ADVISORS INC 0.36% of their portfolio | 1.2m $11.2m | New |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 1.1m $10.3m | Added +103.9k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 1.1m $10.0m | Reduced -2.8k |
| LONESTAR CAPITAL MANAGEMENT LLC 6.29% of their portfolio | 1.1m $9.8m | Reduced -550.0k |
| Park West Asset Management LLC 0.66% of their portfolio | 1.0m $9.6m | Reduced -1.3m |
| PRUDENTIAL FINANCIAL INC 0.01% of their portfolio | 945.5k $8.8m | Reduced -178.1k |
| Legal & General Group Plc 0.00% of their portfolio | 783.5k $7.3m | Added +95.3k |
| CastleKnight Management LP 0.27% of their portfolio | 782.4k $7.3m | Reduced -80.7k |
| RBF Capital, LLC 0.29% of their portfolio | 750.0k $7.0m | Reduced -216.8k |
| FMR LLC 0.00% of their portfolio | 693.1k $6.4m | Added +210.2k |
| Informed Momentum Co LLC 0.53% of their portfolio | 639.0k $5.9m | Reduced -10.0k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 609.9k $5.7m | Added +277.6k |
| Nuveen, LLC 0.00% of their portfolio | 582.2k $5.4m | Reduced -350.8k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 559.3k $5.2m | New |
| MUFG Securities EMEA plc 0.05% of their portfolio | 500.0k $4.7m | New |
| Nierenberg Investment Management Company, LLC 2.11% of their portfolio | 456.1k $4.2m | Unchanged |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 439.8k $2.9m | Reduced -4.9k |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 429.7k $4.0m | Added +48.1k |
| Swiss National Bank 0.00% of their portfolio | 400.9k $3.7m | Added +67.7k |
| Invesco Ltd. 0.00% of their portfolio | 391.8k $3.6m | Reduced -7.1k |
| Aberdeen Group plc 0.01% of their portfolio | 385.9k $3.6m | Reduced -47.9k |
| CIBC Bancorp USA Inc. 0.00% of their portfolio | 372.3k $3.5m | Reduced -198.7k |
| CANADA LIFE ASSURANCE Co 0.01% of their portfolio | 370.8k $3.4m | Added +27.1k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 361.8k $3.4m | Added +257.2k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 359.0k $3.3m | Added +28.5k |
| NORGES BANK 0.00% of their portfolio | 356.8k $3.3m | Not comparable |
| NOMURA ASSET MANAGEMENT CO LTD 0.01% of their portfolio | 352.6k $3.3m | Added +14.0k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 329.8k $3.1m | Added +22.6k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 324.5k $3.0m | Added +45.5k |
| UBS Group AG 0.00% of their portfolio | 316.7k $2.9m | Reduced -159.8k |
| Asset Management One Co., Ltd. 0.01% of their portfolio | 310.6k $2.9m | Added +8.7k |
| WOLVERINE ASSET MANAGEMENT LLC 0.04% of their portfolio | 304.7k $2.8m | Unchanged |
| CITIGROUP INC 0.00% of their portfolio | 281.8k $2.6m | Added +54.4k |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 266.5k $2.5m | Reduced -48.5k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 265.5k $2.5m | New |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.01% of their portfolio | 257.9k $2.4m | Reduced -3.3k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 251.8k $2.3m | Reduced -2.4m |
| SEI INVESTMENTS CO 0.00% of their portfolio | 247.3k $2.3m | Added +141.3k |
| Creative Planning 0.00% of their portfolio | 242.2k $2.3m | Added +7.2k |
| Sumitomo Mitsui Trust Group, Inc. 0.00% of their portfolio | 240.5k $2.2m | Reduced -5.4k |
| CAXTON ASSOCIATES LLP 0.04% of their portfolio | 227.5k $2.1m | Added +77.4k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 227.0k $2.1m | Added +57.9k |
| Summit Financial, LLC 0.02% of their portfolio | 225.9k $2.1m | Unchanged |
| VIRGINIA RETIREMENT SYSTEMS ET Al 0.01% of their portfolio | 222.4k $2.1m | Added +105.4k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio | 213.0k $2.0m | Reduced -4.8k |
| VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 211.8k $2.0m | Added +119.1k |
| Militia Capital Management LLC 0.35% of their portfolio | 209.3k $1.9m | Reduced -433.1k |
| CIBC WORLD MARKET INC. 0.00% of their portfolio | 208.0k $1.9m | New |
| ING GROEP NV 0.01% of their portfolio | 200.0k $1.9m | Unchanged |
| Tidal Investments LLC 0.00% of their portfolio | 199.2k $1.9m | Reduced -8.1k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio | 197.3k $1.8m | Added +10.9k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 194.2k $1.8m | Added +99.1k |
| Quantinno Capital Management LP 0.00% of their portfolio | 191.6k $1.8m | Added +118.0k |
| VAN ECK ASSOCIATES CORP 0.00% of their portfolio | 188.8k $1.8m | Added +126.8k |
| Vanguard Investments Australia, Ltd. 0.00% of their portfolio | 185.8k $1.7m | Added +2.3k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.00% of their portfolio | 181.4k $1.7m | Added +7.6k |
| VARCOV Co. 0.63% of their portfolio | 177.6k $1.7m | Added +59.0k |
| Engineers Gate Manager LP 0.02% of their portfolio | 175.7k $1.6m | Added +142.6k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 174.2k $1.6m | Added +62.5k |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.01% of their portfolio | 163.5k $1.5m | Added +64.8k |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 158.6k $1.5m | Added +68.7k |
| XTX Topco Ltd 0.02% of their portfolio | 153.6k $1.4m | New |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.00% of their portfolio | 148.7k $1.4m | Unchanged |
| VANGUARD ASSET MANAGEMENT, Ltd 0.00% of their portfolio | 139.7k $1.3m | Added +21.2k |
| MetLife Investment Management, LLC 0.01% of their portfolio | 136.2k $1.3m | Added +12.4k |
| Amundi 0.00% of their portfolio | 133.1k $1.2m | Added +5.5k |
| VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio | 133.0k $1.2m | Reduced -10.1k |
| State of New Jersey Common Pension Fund D 0.00% of their portfolio | 130.5k $1.2m | New |
| State of Alaska, Department of Revenue 0.01% of their portfolio | 121.7k $1.1m | Unchanged |
| Jump Financial, LLC 0.01% of their portfolio | 121.5k $1.1m | New |
| Point72 Asset Management, L.P. 0.00% of their portfolio | 110.0k $1.0m | New |
| Quantbot Technologies LP 0.04% of their portfolio | 104.1k $968.1k | New |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 102.8k $956.2k | Reduced -81 |