Vault-13

PEBBLEBROOK HOTEL TR PEB 1.75 12.15.26

NOTE 1.750%12/1 · US DOMESTIC · CUSIP 70509VAA8

53 institutional holders -1 vs Q1 2023
34,553,00034.6m shares reported held*
$602.1mreported value*
5 new 10 added 19 reduced 7 sold out net sold ≈ $58.8m (-5.7m 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 ≈ $17.43. Options: 0 managers hold calls (— notional), 1 hold puts ($42.5m).

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0255075Q3 22: 59Q4 22: 61Q1 23: 54Q2 23: 5353Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 202259
Q4 202261
Q1 202354
Q2 202353

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q4 22: 20 bought or addedQ4 22: 26 cut or sold outQ4 22Q1 23: 18 bought or addedQ1 23: 30 cut or sold outQ1 23Q2 23: 15 bought or addedQ2 23: 26 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 20222026
Q1 20231830
Q2 20231526

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$20m$40m$60mQ3 22 calls: $0Q3 22 puts: $17.9mQ3 22P/C —Q4 22 calls: $0Q4 22 puts: $20.6mQ4 22P/C —Q1 23 calls: $0Q1 23 puts: $56.8mQ1 23P/C —Q2 23 calls: $0Q2 23 puts: $42.5mQ2 23P/C —
Numbers
QuarterCallsPutsP/C
Q3 2022$0$17.9m—
Q4 2022$0$20.6m—
Q1 2023$0$56.8m—
Q2 2023$0$42.5m—

Biggest buyers

CITADEL ADVISORS LLC Added +9,500,000+9.5m
CAMDEN ASSET MANAGEMENT L P /CA Added +7,831,000+7.8m
Walleye Capital LLC New +5,500,000+5.5m
Linden Advisors LP Added +3,450,000+3.5m
STATE STREET CORP Added +3,050,000+3.0m
BANK OF AMERICA CORP /DE/ Added +2,241,000+2.2m
DEUTSCHE BANK AG\ New +2,148,000+2.1m
HighTower Advisors, LLC New +1,994,000+2.0m
Thrivent Financial for Lutherans Added +1,500,000+1.5m
ROYAL BANK OF CANADA Added +1,300,000+1.3m

Biggest sellers

Shaolin Capital Management LLC Sold out -45,647,000-45.6m
AMERIPRISE FINANCIAL INC Sold out -13,000,000-13.0m
FMR LLC Reduced -10,000,000-10.0m
LAZARD ASSET MANAGEMENT LLC Reduced -8,000,000-8.0m
BNP PARIBAS FINANCIAL MARKETS Reduced -6,991,000-7.0m
JANE STREET GROUP, LLC Reduced -4,400,000-4.4m
ADVENT CAPITAL MANAGEMENT /DE/ Reduced -4,196,000-4.2m
WELLINGTON MANAGEMENT GROUP LLP Reduced -4,167,000-4.2m
SUSQUEHANNA INTERNATIONAL GROUP, LLP Sold out -2,950,000-3.0m
SSI INVESTMENT MANAGEMENT LLC Reduced -2,463,000-2.5m

Biggest calls

None

Biggest puts

Shaolin Capital Management LLC New $42.5m50.0m shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 VOYA INVESTMENT MANAGEMENT LLC 0.08% of their portfolio ATLANTA, GA 95,060,00095.1m $80.7m $80.7m 0.08% Unchanged
2 LAZARD ASSET MANAGEMENT LLC 0.07% of their portfolio NEW YORK, NY 68,450,00068.5m $58.1m $58.1m 0.07% Reduced -8.0m -8,000,000
3 Linden Advisors LP 0.60% of their portfolio New York, NY 67,337,00067.3m $57.2m $57.2m 0.60% Added +3.5m +3,450,000
4 CAMDEN ASSET MANAGEMENT L P /CA 1.76% of their portfolio Los Angeles, CA 60,022,00060.0m $50.7m $50.7m 1.76% Added +7.8m +7,831,000
5 BNP PARIBAS FINANCIAL MARKETS 0.07% of their portfolio PARIS, I0 41,077,00041.1m $34.7m $34.7m 0.07% Reduced -7.0m -6,991,000
6 CITADEL ADVISORS LLC 0.04% of their portfolio MIAMI, FL 37,900,00037.9m $32.3m $32.3m 0.04% Added +9.5m +9,500,000
7 ADVENT CAPITAL MANAGEMENT /DE/ 0.60% of their portfolio NEW YORK, NY 35,002,00035.0m $29.7m $29.7m 0.60% Reduced -4.2m -4,196,000
8 FRANKLIN RESOURCES INC 0.01% of their portfolio San Mateo, CA 35,000,00035.0m $29.7m $29.7m 0.01% Unchanged
9 Calamos Advisors LLC 0.15% of their portfolio NAPERVILLE, IL 34,607,00034.6m $29.4m $29.4m 0.15% Reduced -37.0k -37,000
10 Davidson Kempner Capital Management LP 0.59% of their portfolio New York, NY 33,523,00033.5m $28.3m $28.3m 0.59% Not comparable
11 Thrivent Financial for Lutherans 0.05% of their portfolio Minneapolis, MN 26,890,00026.9m $22.8m $22.8m 0.05% Added +1.5m +1,500,000
12 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 23,351,00023.4m $19.8m $19.8m 0.00% Reduced -1.7m -1,746,000
13 ZAZOVE ASSOCIATES LLC 1.73% of their portfolio INCLINE VILLAGE, NV 22,375,00022.4m $19.0m $19.0m 1.73% Reduced -160.0k -160,000
14 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 18,150,00018.1m $15.4m $15.4m 0.00% Added +3.0m +3,050,000
15 MacKay Shields LLC 0.32% of their portfolio New York, NY 13,479,00013.5m $11.4m $11.4m 0.32% Reduced -223.0k -223,000
16 SSI INVESTMENT MANAGEMENT LLC 0.60% of their portfolio Los Angeles, CA 10,067,00010.1m $8.5m $8.5m 0.60% Reduced -2.5m -2,463,000
17 HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC 0.03% of their portfolio Los Angeles, CA 8,287,0008.3m $7.0m $7.0m 0.03% Reduced -33.0k -33,000
18 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 7,893,0007.9m $6.7m $6.7m 0.00% Added +1.3m +1,300,000
19 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 7,166,0007.2m $6.0m $6.0m 0.00% Added +2.2m +2,241,000
20 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 6,161,0006.2m $5.2m $5.2m 0.00% Reduced -4.2m -4,167,000
21 Man Group plc 0.02% of their portfolio LONDON, X0 6,150,0006.2m $5.2m $5.2m 0.02% Unchanged
22 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 6,018,0006.0m $5.1m $5.1m 0.00% Reduced -674.0k -674,000
23 Walleye Capital LLC 0.08% of their portfolio NEW YORK, NY 5,500,0005.5m $4.7m $4.7m 0.08% New
24 BlackRock Inc. 0.00% of their portfolio New York, NY 4,270,0004.3m $3.6m $3.6m 0.00% Reduced -100.0k -100,000
25 GABELLI FUNDS LLC 0.02% of their portfolio Rye, NY 3,400,0003.4m $2.9m $2.9m 0.02% Unchanged
26 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.00% of their portfolio FRANKFURT AM MAIN, 2M 3,250,0003.2m $2.8m $2.8m 0.00% Unchanged
27 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 2,554,0002.6m $2.2m $2.2m 0.00% Reduced -784.0k -784,000
28 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 2,508,0002.5m $2.1m $2.1m 0.00% Reduced -4.4m -4,400,000
29 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 2,148,0002.1m $1.8m $1.8m 0.00% New
30 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 2,085,0002.1m $1.8m $1.8m 0.00% Reduced -112.0k -112,000
31 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 1,994,0002.0m $1.7m $1.7m 0.00% New
32 Liberty Mutual Group Asset Management Inc. 0.34% of their portfolio Boston, MA 1,575,0001.6m $1.3m $1.3m 0.34% Unchanged
33 Calamos Wealth Management LLC 0.03% of their portfolio NAPERVILLE, IL 557,000557.0k $473.3k $473.3k 0.03% Reduced -35.0k -35,000
34 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 500,000500.0k $424.6k $424.6k 0.00% Unchanged
35 FMR LLC 0.00% of their portfolio BOSTON, MA 400,000400.0k $337.6k $337.6k 0.00% Reduced -10.0m -10,000,000
36 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 334,000334.0k $281.9k $281.9k 0.00% Unchanged
37 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 320,000320.0k $270.1k $270.1k 0.00% Unchanged
38 KBC Group NV 0.00% of their portfolio Brussels, C9 300,000300.0k $255.0k $255.0k 0.00% Added +100.0k +100,000
39 Amundi 0.00% of their portfolio Paris, I0 168,000168.0k $143.2k $143.2k 0.00% Unchanged
40 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 158,000158.0k $134.2k $134.2k 0.00% Unchanged
41 OPPENHEIMER ASSET MANAGEMENT INC. 0.00% of their portfolio NEW YORK, NY 149,000149.0k $125.8k $125.8k 0.00% Added +29.0k +29,000
42 FIRST HAWAIIAN BANK 0.00% of their portfolio HONOLULU, HI 116,000116.0k $97.9k $97.9k 0.00% Reduced -83.0k -83,000
43 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 51,00051.0k $43.0k $43.0k 0.00% Unchanged
44 STEPHENS INC /AR/ 0.00% of their portfolio LITTLE ROCK, AR 43,00043.0k $36.3k $36.3k 0.00% Unchanged
45 Balboa Wealth Partners 0.01% of their portfolio SCOTTSDALE, AZ 33,00033.0k $27.7k $27.7k 0.01% Reduced -5.0k -5,000
46 Argent Trust Co 0.00% of their portfolio NASHVILLE, TN 31,00031.0k $26.2k $26.2k 0.00% New
47 SG Americas Securities, LLC 0.01% of their portfolio NEW YORK, NY 19,14019.1k $1.6m $1.6m 0.01% Unchanged
48 Iron Horse Wealth Management, LLC 0.01% of their portfolio JOHSTON, IA 17,00017.0k $14.3k $14.3k 0.01% Unchanged
49 K2 PRINCIPAL FUND, L.P. 3.05% of their portfolio TORONTO, A6 11,30011.3k $9.6m $9.6m 3.05% Added +5.0k +5,000
50 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 10,00010.0k $8.5k $8.5k 0.00% Unchanged
51 Raymond James Financial Services Advisors, Inc. 0.00% of their portfolio ST. PETERSBURG, FL 10,00010.0k $8.4k $8.4k 0.00% Unchanged
52 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 5,0005.0k $422.1k $422.1k 0.00% New
53 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged