<SEC-DOCUMENT>0001214659-25-000268.txt : 20250107
<SEC-HEADER>0001214659-25-000268.hdr.sgml : 20250107
<ACCEPTANCE-DATETIME>20250107140013
ACCESSION NUMBER:		0001214659-25-000268
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250107

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Bluerock Homes Trust, Inc.
		CENTRAL INDEX KEY:			0001903382
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		IRS NUMBER:				874211187
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-93786
		FILM NUMBER:		25514394

	BUSINESS ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS
		STREET 2:		32ND FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2128431601

	MAIL ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS
		STREET 2:		32ND FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HEDGEHOG CAPITAL LLC
		CENTRAL INDEX KEY:			0001215763
		ORGANIZATION NAME:           	
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		1117 E. PUTNAM AVE
		STREET 2:		SUITE 320
		CITY:			RIVERSIDE
		STATE:			CT
		ZIP:			06878
		BUSINESS PHONE:		2036532838

	MAIL ADDRESS:	
		STREET 1:		1117 E. PUTNAM AVE
		STREET 2:		SUITE 320
		CITY:			RIVERSIDE
		STATE:			CT
		ZIP:			06878
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G/A</submissionType>
    <previousAccessionNumber>0001214659-22-012212</previousAccessionNumber>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: HEDGEHOG CAPITAL LLC -->
          <cik>0001215763</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>4</amendmentNo>
      <securitiesClassTitle>Class A Common Stock</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>12/31/2024</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001903382</issuerCik>
        <issuerName>Bluerock Homes Trust, Inc.</issuerName>
        <issuerCusip>09631H100</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>1345 Avenue of the Americas - 32nd Floor</com:street1>
          <com:city>New York</com:city>
          <com:stateOrCountry>NY</com:stateOrCountry>
          <com:zipCode>10105</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(c)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Hedgehog Capital LLC</reportingPersonName>
      <memberGroup>a</memberGroup>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>297387.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>297387.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>297387.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>7.5</classPercent>
      <typeOfReportingPerson>OO</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>Hold River LLC</reportingPersonName>
      <memberGroup>a</memberGroup>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>40565.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>40565.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>40565.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>1.0</classPercent>
      <typeOfReportingPerson>OO</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>David T. Lu</reportingPersonName>
      <memberGroup>a</memberGroup>
      <citizenshipOrOrganization>X1</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>337952.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>337952.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>337952.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>8.5</classPercent>
      <typeOfReportingPerson>IN</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>Bluerock Homes Trust, Inc.</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>1345 Avenue of the Americas - 32nd Floor, New York, NY 10105</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>(1) Hedgehog Capital LLC
(2) Hold River LLC
(3) David T. Lu

David T. Lu is the managing member of Hedgehog Capital LLC and has sole voting and dispositive power with respect to shares owned by Hedgehog Capital LLC.  David T. Lu is the managing member of Hold River LLC and has sole voting and dispositive power with respect to shares owned by Hold River LLC.</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>1117 E. Putnam Ave. #320
Riverside, CT 06878</principalBusinessOfficeOrResidenceAddress>
        <citizenship>(1) DE
(2) DE
(3) USA</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>Y</notApplicableFlag>
      </item3>
      <item4>
        <amountBeneficiallyOwned>Hedgehog Capital LLC: 297,387 Common Shares

Hold River LLC: 40,565 Common Shares

David T. Lu: 337,952 Common Shares

*297,387 Common Shares are owned by Hedgehog Capital LLC.  David T. Lu managing member of Hedgehog Capital LLC has sole dispositive and voting power over these shares. 40,565 Common Shares are owned by Hold River LLC.  David T. Lu managing member of Hold River LLC has sole dispositive and voting power over these shares.</amountBeneficiallyOwned>
        <classPercent>Hedgehog Capital LLC: 7.5% Common Shares**

Hold River LLC: 1.0% Common Shares**

David T. Lu: 8.5% Common Shares**

**The percentages used herein are calculated based upon 3,953,919 outstanding Class A common stock.</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>Hedgehog Capital LLC: 297,387 Common Shares

Hold River LLC: 40,565 Common Shares

David T. Lu: 337,952 Common Shares

*297,387 Common Shares are owned by Hedgehog Capital LLC.  David T. Lu managing member of Hedgehog Capital LLC has sole dispositive and voting power over these shares. 40,565 Common Shares are owned by Hold River LLC.  David T. Lu managing member of Hold River LLC has sole dispositive and voting power over these shares.</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>Hedgehog Capital LLC: 0

Hold River LLC: 0

David T. Lu: 0</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>Hedgehog Capital LLC: 297,387 Common Shares

Hold River LLC: 40,565 Common Shares

David T. Lu: 337,952 Common Shares

*297,387 Common Shares are owned by Hedgehog Capital LLC.  David T. Lu managing member of Hedgehog Capital LLC has sole dispositive and voting power over these shares. 40,565 Common Shares are owned by Hold River LLC.  David T. Lu managing member of Hold River LLC has sole dispositive and voting power over these shares.</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>Hedgehog Capital LLC: 0

Hold River LLC: 0

David T. Lu: 0</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>Hedgehog Capital LLC</reportingPersonName>
      <signatureDetails>
        <signature>/s/ David T. Lu</signature>
        <title>Managing Member</title>
        <date>01/06/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Hold River LLC</reportingPersonName>
      <signatureDetails>
        <signature>/s/ David T. Lu</signature>
        <title>Managing Member</title>
        <date>01/06/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>David T. Lu</reportingPersonName>
      <signatureDetails>
        <signature>/s/ David T. Lu</signature>
        <title>Managing Member</title>
        <date>01/06/2025</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
</edgarSubmission>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
