Vault-13

BRAEMAR HOTELS & RESORTS INC BHR 5.5 PERP b

5.5 CUM CV PFD B · PRIVATE · CUSIP 10482B200

13 institutional holders -1 vs Q1 2025
1,538,5261.5m shares reported held*
$20.3mreported value*
0 new 3 added 5 reduced 1 sold out net bought ≈ $300.1k (+23.6k 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 ≈ $13.18.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

01020Q3 22: 14Q4 22: 18Q1 23: 17Q2 23: 14Q3 23: 14Q4 23: 15Q1 24: 18Q2 24: 15Q3 24: 15Q4 24: 15Q1 25: 14Q2 25: 1313Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202214
Q4 202218
Q1 202317
Q2 202314
Q3 202314
Q4 202315
Q1 202418
Q2 202415
Q3 202415
Q4 202415
Q1 202514
Q2 202513

Buyers vs sellers

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

Bought or addedCut or sold out
10010Q3 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 24Q3 24: 6 bought or addedQ3 24: 4 cut or sold outQ4 24: 6 bought or addedQ4 24: 4 cut or sold outQ4 24Q1 25: 5 bought or addedQ1 25: 4 cut or sold outQ2 25: 3 bought or addedQ2 25: 6 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 202343
Q4 202347
Q1 202485
Q2 202439
Q3 202464
Q4 202464
Q1 202554
Q2 202536

Biggest buyers

INFRASTRUCTURE CAPITAL ADVISORS, LLC Added +38,406+38.4k
Palogic Value Management, L.P. Added +11,758+11.8k
MORGAN STANLEY Added +643+643

Biggest sellers

BlackRock, Inc. Reduced -9,976-10.0k
NEXPOINT ASSET MANAGEMENT, L.P. Reduced -8,831-8.8k
Janney Montgomery Scott LLC Reduced -4,750-4.8k
UBS Group AG Reduced -2,114-2.1k
Future Financial Wealth Managment LLC Sold out -1,500-1.5k
ROYAL BANK OF CANADA Reduced -867-867

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 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 NEXPOINT ASSET MANAGEMENT, L.P. 0.70% of their portfolio Dallas, TX 556,919556.9k $7.3m $7.3m 0.70% Reduced -8.8k -8,831
2 INFRASTRUCTURE CAPITAL ADVISORS, LLC 0.72% of their portfolio New York, NY 452,287452.3k $6.0m $6.0m 0.72% Added +38.4k +38,406
3 BlackRock, Inc. 0.00% of their portfolio New York, NY 249,315249.3k $3.3m $3.3m 0.00% Reduced -10.0k -9,976
4 LDR Capital Management LLC 2.29% of their portfolio New York, NY 134,222134.2k $1.8m $1.8m 2.29% Unchanged
5 Palogic Value Management, L.P. 0.46% of their portfolio DALLAS, TX 82,66182.7k $1.1m $1.1m 0.46% Added +11.8k +11,758
6 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 51,92151.9k $684.0k $684.0k 0.00% Reduced -4.8k -4,750
7 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 5,2085.2k $68.6k $68.6k 0.00% Unchanged
8 FMR LLC 0.00% of their portfolio BOSTON, MA 2,7002.7k $35.6k $35.6k 0.00% Unchanged
9 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 2,0842.1k $27.5k $27.5k 0.00% Added +643 +643
10 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 1,0711.1k $14.1k $14.1k 0.00% Unchanged
11 UBS Group AG 0.00% of their portfolio ZURICH, V8 138138 $1.8k $1.8k 0.00% Reduced -2.1k -2,114
12 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 3434 $0 $0 0.00% Reduced -867 -867
13 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged