Vault-13

BRAEMAR HOTELS & RESORTS INC BHR 5.5 PERP b

5.5 CUM CV PFD B · PRIVATE · CUSIP 10482B200

19 institutional holders +6 vs Q3 2025
1,603,2211.6m shares reported held*
$24.5mreported value*
4 new 4 added 6 reduced 0 sold out net bought ≈ $168.8k (+11.4k 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 ≈ $15.30.

Trends to Q4 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: 13Q3 25: 13Q4 25: 1919Q3 22Q2 23Q1 24Q4 24Q4 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
Q3 202513
Q4 202519

Buyers vs sellers

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

Bought or addedCut or sold out
10010Q1 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 25Q3 25: 6 bought or addedQ3 25: 5 cut or sold outQ4 25: 8 bought or addedQ4 25: 6 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 202485
Q2 202439
Q3 202464
Q4 202464
Q1 202554
Q2 202536
Q3 202565
Q4 202586

Biggest buyers

ZAZOVE ASSOCIATES LLC Added +116,601+116.6k
INFRASTRUCTURE CAPITAL ADVISORS, LLC Added +46,576+46.6k
Rangeley Capital, LLC New +17,245+17.2k
PFG Investments, LLC New +15,165+15.2k
Advisory Services Network, LLC New +11,500+11.5k
Kestra Advisory Services, LLC New +7,400+7.4k
Palogic Value Management, L.P. Added +1,500+1.5k
WELLS FARGO & COMPANY/MN Added +126+126

Biggest sellers

NEXPOINT ASSET MANAGEMENT, L.P. Reduced -183,683-183.7k
BlackRock, Inc. Reduced -15,210-15.2k
Janney Montgomery Scott LLC Reduced -3,000-3.0k
Global Retirement Partners, LLC Reduced -2,000-2.0k
MORGAN STANLEY Reduced -644-644
Covestor Ltd Reduced -181-181

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, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Eagle Point Credit Management LLC 0.75% of their portfolio GREENWICH, CT 1,318,5001.3m $781.1k $781.1k 0.75% First filing
2 INFRASTRUCTURE CAPITAL ADVISORS, LLC 0.89% of their portfolio New York, NY 543,025543.0k $8.0m $8.0m 0.89% Added +46.6k +46,576
3 NEXPOINT ASSET MANAGEMENT, L.P. 0.35% of their portfolio Dallas, TX 339,774339.8k $5.0m $5.0m 0.35% Reduced -183.7k -183,683
4 BlackRock, Inc. 0.00% of their portfolio New York, NY 230,657230.7k $3.4m $3.4m 0.00% Reduced -15.2k -15,210
5 ZAZOVE ASSOCIATES LLC 0.19% of their portfolio INCLINE VILLAGE, NV 144,113144.1k $2.1m $2.1m 0.19% Added +116.6k +116,601
6 LDR Capital Management LLC 2.75% of their portfolio New York, NY 134,177134.2k $2.0m $2.0m 2.75% Unchanged
7 Palogic Value Management, L.P. 0.54% of their portfolio DALLAS, TX 85,66185.7k $1.3m $1.3m 0.54% Added +1.5k +1,500
8 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 49,37149.4k $731.0k $731.0k 0.00% Reduced -3.0k -3,000
9 Rangeley Capital, LLC 0.22% of their portfolio NEW CANAAN, CT 17,24517.2k $255.4k $255.4k 0.22% New
10 PFG Investments, LLC 0.01% of their portfolio WOODBURY, NY 15,16515.2k $224.6k $224.6k 0.01% New
11 Advisory Services Network, LLC 0.00% of their portfolio ATLANTA, GA 11,50011.5k $170.3k $170.3k 0.00% New
12 Lifetime Wealth Management P.C. 0.11% of their portfolio ROCKWALL, TX 11,50011.5k $170.3k $170.3k 0.11% First filing
13 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 7,4007.4k $109.6k $109.6k 0.00% New
14 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 5,3345.3k $79.0k $79.0k 0.00% Added +126 +126
15 Global Retirement Partners, LLC 0.00% of their portfolio San Rafael, CA 3,0003.0k $44.4k $44.4k 0.00% Reduced -2.0k -2,000
16 FMR LLC 0.00% of their portfolio BOSTON, MA 2,7002.7k $40.0k $40.0k 0.00% Unchanged
17 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,4401.4k $21.3k $21.3k 0.00% Reduced -644 -644
18 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 1,0711.1k $15.9k $15.9k 0.00% Unchanged
19 Covestor Ltd 0.00% of their portfolio LONDON, X0 8888 $1.0k $1.0k 0.00% Reduced -181 -181