Vault-13

PEBBLEBROOK HOTEL TR PEB 1.75 12.15.26

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

57 institutional holders -8 vs Q1 2025
16,206,34516.2m shares reported held*
$737.7mreported value*
6 new 16 added 17 reduced 13 sold out net sold ≈ $52.8m (+3.9m 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 ($2.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $45.66.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0255075Q3 22: 59Q4 22: 61Q1 23: 54Q2 23: 53Q3 23: 60Q4 23: 62Q1 24: 58Q2 24: 58Q3 24: 64Q4 24: 62Q1 25: 65Q2 25: 5757Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202259
Q4 202261
Q1 202354
Q2 202353
Q3 202360
Q4 202362
Q1 202458
Q2 202458
Q3 202464
Q4 202462
Q1 202565
Q2 202557

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q3 23: 27 bought or addedQ3 23: 16 cut or sold outQ4 23: 25 bought or addedQ4 23: 19 cut or sold outQ4 23Q1 24: 25 bought or addedQ1 24: 24 cut or sold outQ2 24: 18 bought or addedQ2 24: 21 cut or sold outQ2 24Q3 24: 31 bought or addedQ3 24: 24 cut or sold outQ4 24: 22 bought or addedQ4 24: 27 cut or sold outQ4 24Q1 25: 31 bought or addedQ1 25: 29 cut or sold outQ2 25: 22 bought or addedQ2 25: 30 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20232716
Q4 20232519
Q1 20242524
Q2 20241821
Q3 20243124
Q4 20242227
Q1 20253129
Q2 20252230

Biggest buyers

Balyasny Asset Management L.P. New +37,500,000+37.5m
D. E. Shaw & Co., Inc. Added +20,710,000+20.7m
UBS Group AG Added +19,803,000+19.8m
OAKTREE CAPITAL MANAGEMENT LP Added +19,284,000+19.3m
Shaolin Capital Management LLC Added +9,858,000+9.9m
ROYAL BANK OF CANADA Added +7,807,000+7.8m
Walleye Capital LLC Added +5,000,000+5.0m
Russell Investments Group, Ltd. Added +2,977,000+3.0m
Fort Baker Capital Management LP New +2,445,000+2.4m
MORGAN STANLEY Added +1,490,000+1.5m

Biggest sellers

VOYA INVESTMENT MANAGEMENT LLC Reduced -95,060,000-95.1m
MILLENNIUM MANAGEMENT LLC Sold out -18,473,000-18.5m
Calamos Advisors LLC Sold out -17,750,000-17.8m
Linden Advisors LP Reduced -12,474,000-12.5m
FRANKLIN RESOURCES INC Reduced -9,000,000-9.0m
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Sold out -5,000,000-5.0m
JPMORGAN CHASE & CO Reduced -4,699,000-4.7m
WELLS FARGO & COMPANY/MN Reduced -4,645,000-4.6m
BARCLAYS PLC Reduced -4,262,000-4.3m
Man Group plc Sold out -3,450,000-3.5m

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 VOYA INVESTMENT MANAGEMENT LLC 0.09% of their portfolio ATLANTA, GA 95,060,00095.1m $90.1m $90.1m 0.09% Reduced -95.1m -95,060,000
2 Linden Advisors LP 0.49% of their portfolio New York, NY 84,853,00084.9m $80.3m $80.3m 0.49% Reduced -12.5m -12,474,000
3 OAKTREE CAPITAL MANAGEMENT LP 1.17% of their portfolio LOS ANGELES, CA 62,423,00062.4m $59.2m $59.2m 1.17% Added +19.3m +19,284,000
4 LAZARD ASSET MANAGEMENT LLC 0.06% of their portfolio NEW YORK, NY 47,210,00047.2m $44.7m $44.7m 0.06% Reduced -760.0k -760,000
5 D. E. Shaw & Co., Inc. 0.04% of their portfolio New York, NY 46,583,00046.6m $44.1m $44.1m 0.04% Added +20.7m +20,710,000
6 Walleye Capital LLC 0.41% of their portfolio NEW YORK, NY 46,238,00046.2m $43.8m $43.8m 0.41% Added +5.0m +5,000,000
7 TENOR CAPITAL MANAGEMENT Co., L.P. 0.48% of their portfolio NEW YORK, NY 37,534,00037.5m $35.6m $35.6m 0.48% Unchanged
8 Balyasny Asset Management L.P. 0.08% of their portfolio Chicago, IL 37,500,00037.5m $35.5m $35.5m 0.08% New
9 Shaolin Capital Management LLC 1.54% of their portfolio Miami, FL 37,500,00037.5m $35.5m $35.5m 1.54% Added +9.9m +9,858,000
10 CAMDEN ASSET MANAGEMENT L P /CA 0.77% of their portfolio Los Angeles, CA 34,585,00034.6m $32.7m $32.7m 0.77% Added +1.0m +1,000,000
11 Thrivent Financial for Lutherans 0.06% of their portfolio Minneapolis, MN 30,650,00030.6m $29.0m $29.0m 0.06% Added +100.0k +100,000
12 ADVENT CAPITAL MANAGEMENT /DE/ 0.54% of their portfolio NEW YORK, NY 26,001,00026.0m $24.6m $24.6m 0.54% Added +1.1m +1,100,000
13 FRANKLIN RESOURCES INC 0.01% of their portfolio San Mateo, CA 26,000,00026.0m $24.6m $24.6m 0.01% Reduced -9.0m -9,000,000
14 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 25,748,00025.7m $24.3m $24.3m 0.00% Added +1.5m +1,490,000
15 UBS Group AG 0.00% of their portfolio ZURICH, V8 19,803,67019.8m $18.7m $18.7m 0.00% Added +19.8m +19,803,000
16 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 16,228,00016.2m $15.3m $15.3m 0.00% Added +7.8m +7,807,000
17 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 14,875,00014.9m $14.1m $14.1m 0.00% Reduced -350.0k -350,000
18 CORBYN INVESTMENT MANAGEMENT INC/MD 4.62% of their portfolio Lutherville, MD 14,562,00014.6m $13.8m $13.8m 4.62% Added +545.0k +545,000
19 BlackRock, Inc. 0.00% of their portfolio New York, NY 8,635,0008.6m $8.2m $8.2m 0.00% Reduced -125.0k -125,000
20 NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio ALBANY, NY 6,356,0006.4m $6.0m $6.0m 0.01% Added +556.0k +556,000
21 SSI INVESTMENT MANAGEMENT LLC 0.40% of their portfolio Los Angeles, CA 5,967,0006.0m $5.6m $5.6m 0.40% Added +734.0k +734,000
22 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 5,762,0005.8m $5.4m $5.4m 0.01% Unchanged
23 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.01% of their portfolio FRANKFURT AM MAIN, 2M 5,500,0005.5m $5.2m $5.2m 0.01% Unchanged
24 MacKay Shields LLC 0.15% of their portfolio New York, NY 5,111,0005.1m $4.8m $4.8m 0.15% Reduced -201.0k -201,000
25 Russell Investments Group, Ltd. 0.01% of their portfolio Seattle, WA 5,073,0005.1m $4.8m $4.8m 0.01% Added +3.0m +2,977,000
26 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 4,958,0005.0m $4.7m $4.7m 0.00% Reduced -4.7m -4,699,000
27 AVIVA PLC 0.01% of their portfolio LONDON, X0 4,100,0004.1m $3.9m $3.9m 0.01% Unchanged
28 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 4,055,0004.1m $3.8m $3.8m 0.00% Reduced -1.4m -1,416,000
29 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 2,896,0002.9m $2.7m $2.7m 0.00% Reduced -307.0k -307,000
30 SUSQUEHANNA ADVISORS GROUP, INC. 0.00% of their portfolio BALA CYNWYD, PA 2,500,0002.5m $23.6k $23.6k 0.00% Unchanged
31 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 2,466,0002.5m $2.3m $2.3m 0.00% Reduced -4.6m -4,645,000
32 Fort Baker Capital Management LP 0.41% of their portfolio Larkspur, CA 2,445,0002.4m $2.3m $2.3m 0.41% New
33 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 2,437,0002.4m $2.3m $2.3m 0.00% Reduced -4.3m -4,262,000
34 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 1,501,0001.5m $1.4m $1.4m 0.00% Reduced -2.6m -2,633,000
35 HB Wealth Management, LLC 0.01% of their portfolio Atlanta, GA 1,383,0001.4m $1.3m $1.3m 0.01% New
36 Universal- Beteiligungs- und Servicegesellschaft mbH 0.00% of their portfolio FRANKFURT AM MAIN, 2M 500,000500.0k $473.3k $473.3k 0.00% Unchanged
37 Cutler Capital Management, LLC 0.10% of their portfolio WORCESTER, MA 300,000300.0k $283.5k $283.5k 0.10% Unchanged
38 Oaktree Fund Advisors, LLC 0.31% of their portfolio LOS ANGLES, CA 190,000190.0k $180.0k $180.0k 0.31% Unchanged
39 Amundi 0.00% of their portfolio Paris, I0 168,000168.0k $158.8k $158.8k 0.00% Unchanged
40 OPPENHEIMER ASSET MANAGEMENT INC. 0.00% of their portfolio NEW YORK, NY 154,000154.0k $145.5k $145.5k 0.00% Reduced -2.0k -2,000
41 Wealthspire Advisors, LLC 0.00% of their portfolio NEW YORK, NY 89,00089.0k $84.2k $84.2k 0.00% New
42 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 67,00067.0k $63.3k $63.3k 0.00% Unchanged
43 STEPHENS INC /AR/ 0.00% of their portfolio LITTLE ROCK, AR 49,00049.0k $46.3k $46.3k 0.00% Unchanged
44 BRIGHTON JONES LLC 0.00% of their portfolio SEATTLE, WA 45,00045.0k $42.6k $42.6k 0.00% Unchanged
45 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 37,00037.0k $35.0k $35.0k 0.00% Added +27.0k +27,000
46 Argent Trust Co 0.00% of their portfolio NASHVILLE, TN 31,00031.0k $29.3k $29.3k 0.00% Unchanged
47 Balboa Wealth Partners 0.00% of their portfolio SCOTTSDALE, AZ 26,00026.0k $24.6k $24.6k 0.00% Reduced -4.0k -4,000
48 Jefferies Financial Group Inc. 0.00% of their portfolio NEW YORK, NY 17,00017.0k $16.1k $16.1k 0.00% Reduced -287.0k -287,000
49 INSIGNEO ADVISORY SERVICES, LLC 0.00% of their portfolio MIAMI, FL 17,00017.0k $16.1k $16.1k 0.00% Unchanged
50 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 15,00015.0k $14.2k $14.2k 0.00% New
51 &PARTNERS 0.00% of their portfolio NASHVILLE, TN 12,00012.0k $11.3k $11.3k 0.00% Added +2.0k +2,000
52 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 10,00010.0k $9.4k $9.4k 0.00% Reduced -1.0k -1,000
53 K2 PRINCIPAL FUND, L.P. 1.30% of their portfolio TORONTO, A6 7,4737.5k $7.1m $7.1m 1.30% New
54 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 5,0005.0k $4.7k $4.7k 0.00% Unchanged
55 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 5,0005.0k $4.7k $4.7k 0.00% Unchanged
56 ODDO BHF ASSET MANAGEMENT SAS 0.01% of their portfolio PARIS, I0 345345 $326.6k $326.6k 0.01% Unchanged
57 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged