Vault-13

BRAEMAR HOTELS & RESORTS INC BHR 5.5 PERP b

5.5 CUM CV PFD B · PRIVATE · CUSIP 10482B200

15 institutional holders -4 vs Q4 2025
1,818,7621.8m shares reported held*
$26.5mreported value*
4 new 4 added 5 reduced 7 sold out net bought ≈ $2.4m (+218.5k 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 ≈ $14.57.

Trends to Q1 2026

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: 19Q1 26: 1515Q3 22Q3 23Q3 24Q3 25Q1 26
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
Q1 202615

Buyers vs sellers

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

Bought or addedCut or sold out
20020Q2 24: 3 bought or addedQ2 24: 9 cut or sold outQ3 24: 6 bought or addedQ3 24: 4 cut or sold outQ3 24Q4 24: 6 bought or addedQ4 24: 4 cut or sold outQ1 25: 5 bought or addedQ1 25: 4 cut or sold outQ1 25Q2 25: 3 bought or addedQ2 25: 6 cut or sold outQ3 25: 6 bought or addedQ3 25: 5 cut or sold outQ3 25Q4 25: 8 bought or addedQ4 25: 6 cut or sold outQ1 26: 8 bought or addedQ1 26: 12 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 202439
Q3 202464
Q4 202464
Q1 202554
Q2 202536
Q3 202565
Q4 202586
Q1 2026812

Biggest buyers

ZAZOVE ASSOCIATES LLC Added +149,113+149.1k
FMR LLC Added +100,000+100.0k
INFRASTRUCTURE CAPITAL ADVISORS, LLC Added +58,099+58.1k
Eagle Point Credit Management LLC New +52,740+52.7k
Orvieto Partners, L.P. New +50,000+50.0k
MORGAN STANLEY Added +12,650+12.7k
UBS Group AG New +454+454
ROYAL BANK OF CANADA New +218+218

Biggest sellers

Eagle Point Credit Management LLC Sold out -1,318,500-1.3m
LDR Capital Management LLC Sold out -134,177-134.2k
Rangeley Capital, LLC Sold out -17,245-17.2k
PFG Investments, LLC Sold out -15,165-15.2k
Palogic Value Management, L.P. Reduced -11,794-11.8k
Advisory Services Network, LLC Reduced -8,500-8.5k
Kestra Advisory Services, LLC Sold out -7,400-7.4k
BlackRock, Inc. Reduced -5,950-6.0k
Janney Montgomery Scott LLC Reduced -2,400-2.4k
BANK OF AMERICA CORP /DE/ Sold out -1,071-1.1k

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, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 INFRASTRUCTURE CAPITAL ADVISORS, LLC 0.82% of their portfolio New York, NY 601,124601.1k $8.7m $8.7m 0.82% Added +58.1k +58,099
2 NEXPOINT ASSET MANAGEMENT, L.P. 0.34% of their portfolio Dallas, TX 339,774339.8k $4.9m $4.9m 0.34% Unchanged
3 ZAZOVE ASSOCIATES LLC 0.20% of their portfolio INCLINE VILLAGE, NV 293,226293.2k $4.3m $4.3m 0.20% Added +149.1k +149,113
4 BlackRock, Inc. 0.00% of their portfolio New York, NY 224,707224.7k $3.3m $3.3m 0.00% Reduced -6.0k -5,950
5 FMR LLC 0.00% of their portfolio BOSTON, MA 102,700102.7k $1.5m $1.5m 0.00% Added +100.0k +100,000
6 Palogic Value Management, L.P. 0.47% of their portfolio DALLAS, TX 73,86773.9k $1.1m $1.1m 0.47% Reduced -11.8k -11,794
7 Eagle Point Credit Management LLC 1.00% of their portfolio GREENWICH, CT 52,74052.7k $766.8k $766.8k 1.00% New
8 Orvieto Partners, L.P. 0.62% of their portfolio BOSTON, MA 50,00050.0k $721.5k $721.5k 0.62% New
9 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 46,97147.0k $683.0k $683.0k 0.00% Reduced -2.4k -2,400
10 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 14,09014.1k $204.9k $204.9k 0.00% Added +12.7k +12,650
11 Lifetime Wealth Management P.C. 0.10% of their portfolio ROCKWALL, TX 11,50011.5k $167.2k $167.2k 0.10% Unchanged
12 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 4,6094.6k $67.0k $67.0k 0.00% Reduced -725 -725
13 Advisory Services Network, LLC 0.00% of their portfolio ATLANTA, GA 3,0003.0k $43.6k $43.6k 0.00% Reduced -8.5k -8,500
14 UBS Group AG 0.00% of their portfolio ZURICH, V8 454454 $6.6k $6.6k 0.00% New
15 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 218218 $3.0k $3.0k 0.00% New