Business Context and Reporting Period
This filing is a Form 13F Information Table submitted by Digitalbridge Group, Inc. for the reporting period ending December 31, 2021. The document discloses the company's holdings of U.S. equity securities and certain other securities as of the end of the quarter. It does not contain financial performance data for Digitalbridge Group itself, but rather a snapshot of its investment portfolio.
Key Financial Metrics and Portfolio Composition
The filing details specific positions held by Digitalbridge Group, categorized by investment manager discretion (Manager 1 through 4). Key portfolio characteristics include:
- Asset Classes: The portfolio consists primarily of common stock (SH), with specific holdings in preferred stock (PFD) and debt instruments (PRN/Notes).
- Derivatives: Several positions include Put or Call options, indicating hedging strategies or leveraged exposure.
- Top Holdings by Value (Selected):
- Switch Inc.: Significant holdings across multiple managers, totaling over 3 million shares with a reported value exceeding $88 million.
- Uniti Group Inc.: A major position held by Manager 1 (1.75 million shares) valued at approximately $24.5 million.
- Vnet Group Inc.: Holdings totaling over 1.6 million shares, with Manager 1 holding 1.325 million shares valued at roughly $12 million.
- Real Estate & REITs: Substantial exposure to real estate entities including MGM Growth Properties, Park Hotels & Resorts, Rexford Industrial Realty, and Sun Communities.
- Debt Instruments: Notable principal amounts include $2.4 million in Starwood Waypoint Homes notes and $1 million in Granite Point Mortgage Trust notes.
Material Changes Versus Prior Period
The filing text provided is a static snapshot of holdings as of December 31, 2021. It does not provide comparative data against the prior quarter (September 30, 2021) or prior year. Consequently, material changes in position size, new acquisitions, or divestitures cannot be determined from this document alone.
Guidance, Outlook, and Risks
Guidance and Outlook: This Form 13F filing does not contain management commentary, forward-looking guidance, or strategic outlook for Digitalbridge Group, Inc.
Risks and Contingencies: The filing includes a standard SEC disclaimer stating that the Commission has not reviewed the information for accuracy. The portfolio composition reveals exposure to specific sectors, including:
- Real Estate Sensitivity: Heavy concentration in REITs and real estate-related equities (e.g., Alexander & Baldwin, Kite Realty, Terreno Realty).
- Technology and Telecom: Exposure to companies like Activision Blizzard, Broadcom, and T-Mobile.
- Derivative Risk: The presence of Put and Call options on various holdings introduces leverage and volatility risks.
Important Facts for Investor Verification
- Portfolio Concentration: Verify the total aggregate value of the portfolio to understand the weight of top holdings like Switch Inc. and Uniti Group relative to the firm's total assets under management.
- Manager Discretion: Note that holdings are split across four different investment managers (DFND 1-4), suggesting a multi-strategy or multi-fund structure within the firm.
- Debt Exposure: Confirm the credit quality and maturity of the specific debt instruments held (e.g., Starwood Waypoint Homes, Granite Point Mortgage Trust) as these differ from equity risk profiles.
- Derivative Positions: Investigate the specific terms of the Put and Call options listed (e.g., on Apollo Commercial Real Estate Finance, Ares Capital Corp) to assess potential downside protection or upside leverage.
- Missing Data: Acknowledge that this filing does not report Digitalbridge's own revenue, profit, or cash flow; those metrics must be sourced from the company's 10-K or 10-Q filings.