Vault-13

BRAEMAR HOTELS & RESORTS INC BHR 5.5 PERP b

5.5 CUM CV PFD B · PRIVATE · CUSIP 10482B200

15 institutional holders -3 vs Q1 2024
1,514,8531.5m shares reported held*
$19.5mreported value*
0 new 3 added 6 reduced 3 sold out net sold ≈ $553.4k (-42.2k shares)

* 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. Holder counts are more reliable. Implied quarter-end price ≈ $12.86.

Trends to Q2 2024

Institutional holders

Managers reporting a position, each quarter

01020Q3 22: 14Q4 22: 18Q1 23: 17Q2 23: 14Q3 23: 14Q4 23: 15Q1 24: 18Q2 24: 1515Q3 22Q1 23Q3 23Q1 24Q2 24
Numbers
QuarterHolders
Q3 202214
Q4 202218
Q1 202317
Q2 202314
Q3 202314
Q4 202315
Q1 202418
Q2 202415

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
10010Q4 22: 9 bought or addedQ4 22: 5 cut or sold outQ4 22Q1 23: 9 bought or addedQ1 23: 6 cut or sold outQ2 23: 4 bought or addedQ2 23: 9 cut or sold outQ2 23Q3 23: 4 bought or addedQ3 23: 3 cut or sold outQ4 23: 4 bought or addedQ4 23: 7 cut or sold outQ4 23Q1 24: 8 bought or addedQ1 24: 5 cut or sold outQ2 24: 3 bought or addedQ2 24: 9 cut or sold outQ2 24
Numbers
QuarterBought or addedCut or sold out
Q4 202295
Q1 202396
Q2 202349
Q3 202343
Q4 202347
Q1 202485
Q2 202439

Biggest buyers

Palogic Value Management, L.P. Added +8,991+9.0k
Janney Montgomery Scott LLC Added +925+925
LDR Capital Management LLC Added +259+259

Biggest sellers

INDEPENDENT FINANCIAL GROUP, LLC Sold out -14,750-14.8k
LPL Financial LLC Sold out -14,044-14.0k
INFRASTRUCTURE CAPITAL ADVISORS, LLC Reduced -11,750-11.8k
BlackRock Inc. Reduced -6,560-6.6k
MORGAN STANLEY Reduced -2,880-2.9k
Future Financial Wealth Managment LLC Sold out -1,500-1.5k
ROYAL BANK OF CANADA Reduced -810-810
WELLS FARGO & COMPANY/MN Reduced -502-502
UBS Group AG Reduced -412-412

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.

HolderStakeChangeShares Last filed
INFRASTRUCTURE CAPITAL ADVISORS, LLC 13G · institution +2.4 pts · filed 2026-08-14 21.9% +2.4 pts 674.4k≈ $9.3m 2026-08-14
ZAZOVE ASSOCIATES LLC 13G · institution new · filed 2026-08-14 8.0% new 247.9k≈ $3.4m 2026-08-14

Holders, Q2 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 NEXPOINT ASSET MANAGEMENT, L.P. 0.96% of their portfolio Dallas, TX 565,750565.8k $7.3m $7.3m 0.96% Unchanged
2 INFRASTRUCTURE CAPITAL ADVISORS, LLC 0.69% of their portfolio New York, NY 385,179385.2k $5.0m $5.0m 0.69% Reduced -11.8k -11,750
3 BlackRock Inc. 0.00% of their portfolio New York, NY 284,493284.5k $3.7m $3.7m 0.00% Reduced -6.6k -6,560
4 LDR Capital Management LLC 1.67% of their portfolio New York, NY 142,930142.9k $1.8m $1.8m 1.67% Added +259 +259
5 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 54,80254.8k $705.0k $705.0k 0.00% Added +925 +925
6 CastleKnight Management LP 0.07% of their portfolio New York, NY 38,45838.5k $494.6k $494.6k 0.07% Unchanged
7 Palogic Value Management, L.P. 0.17% of their portfolio DALLAS, TX 30,90830.9k $397.5k $397.5k 0.17% Added +9.0k +8,991
8 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 6,7736.8k $87.1k $87.1k 0.00% Reduced -502 -502
9 FMR LLC 0.00% of their portfolio BOSTON, MA 2,7002.7k $34.7k $34.7k 0.00% Unchanged
10 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,4401.4k $18.5k $18.5k 0.00% Reduced -2.9k -2,880
11 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 1,0711.1k $13.8k $13.8k 0.00% Unchanged
12 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 300300 $3.9k $3.9k 0.00% Unchanged
13 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 257257 $3.0k $3.0k 0.00% Reduced -810 -810
14 UBS Group AG 0.00% of their portfolio ZURICH, V8 4949 $630 $630 0.00% Reduced -412 -412
15 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged