Vault-13

PEBBLEBROOK HOTEL TR PEB 1.75 12.15.26

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

36 institutional holders -3 vs Q1 2026
33,044,00033.0m shares reported held*
$307.7mreported value*
3 new 11 added 7 reduced 6 sold out net bought ≈ $16.0m (+26.5m 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 ($4.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $9.44.

Trends to Q2 2026

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: 57Q3 25: 43Q4 25: 40Q1 26: 39Q2 26: 3636Q3 22Q3 23Q3 24Q3 25Q2 26
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
Q3 202543
Q4 202540
Q1 202639
Q2 202636

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q3 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 25Q3 25: 14 bought or addedQ3 25: 35 cut or sold outQ4 25: 9 bought or addedQ4 25: 20 cut or sold outQ4 25Q1 26: 10 bought or addedQ1 26: 15 cut or sold outQ2 26: 14 bought or addedQ2 26: 13 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 20243124
Q4 20242227
Q1 20253129
Q2 20252230
Q3 20251435
Q4 2025920
Q1 20261015
Q2 20261413

Biggest buyers

Ovata Capital Management Ltd New +27,718,000+27.7m
JPMORGAN CHASE & CO Added +8,864,000+8.9m
OSTERWEIS CAPITAL MANAGEMENT INC Added +6,700,000+6.7m
OAKTREE CAPITAL MANAGEMENT LP Added +5,798,000+5.8m
SSI INVESTMENT MANAGEMENT LLC New +2,156,000+2.2m
STATE OF WISCONSIN INVESTMENT BOARD Added +1,000,000+1.0m
STATE STREET CORP Added +650,000+650.0k
PIPER SANDLER & CO. Added +464,000+464.0k
Russell Investments Group, Ltd. Added +412,000+412.0k
BARCLAYS PLC Added +280,000+280.0k

Biggest sellers

CAMDEN ASSET MANAGEMENT L P /CA Sold out -19,085,000-19.1m
LAZARD ASSET MANAGEMENT LLC Sold out -13,287,000-13.3m
Thrivent Financial for Lutherans Reduced -10,370,000-10.4m
Walleye Capital LLC Reduced -3,104,000-3.1m
SSI INVESTMENT MANAGEMENT LLC Sold out -2,156,000-2.2m
TENOR CAPITAL MANAGEMENT Co., L.P. Reduced -2,000,000-2.0m
AVIVA PLC Reduced -600,000-600.0k
Cutler Capital Management, LLC Sold out -300,000-300.0k
CORBYN INVESTMENT MANAGEMENT INC/MD Reduced -295,000-295.0k
FINANCIAL CONSULATE, INC Reduced -48,000-48.0k

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 OAKTREE CAPITAL MANAGEMENT LP 1.19% of their portfolio LOS ANGELES, CA 63,534,00063.5m $63.1m $63.1m 1.19% Added +5.8m +5,798,000
2 TENOR CAPITAL MANAGEMENT Co., L.P. 0.63% of their portfolio NEW YORK, NY 44,734,00044.7m $44.5m $44.5m 0.63% Reduced -2.0m -2,000,000
3 OSTERWEIS CAPITAL MANAGEMENT INC 1.90% of their portfolio SAN FRANCISCO, CA 40,571,00040.6m $40.3m $40.3m 1.90% Added +6.7m +6,700,000
4 Walleye Capital LLC 0.17% of their portfolio NEW YORK, NY 35,202,00035.2m $35.0m $35.0m 0.17% Reduced -3.1m -3,104,000
5 Ovata Capital Management Ltd 2.06% of their portfolio HONG KONG, K3 27,718,00027.7m $27.5m $27.5m 2.06% New
6 D. E. Shaw & Co., Inc. 0.01% of their portfolio New York, NY 16,583,00016.6m $16.5m $16.5m 0.01% Unchanged
7 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 13,499,00013.5m $13.4m $13.4m 0.00% Added +8.9m +8,864,000
8 CORBYN INVESTMENT MANAGEMENT INC/MD 3.65% of their portfolio Lutherville, MD 12,768,00012.8m $12.6m $12.6m 3.65% Reduced -295.0k -295,000
9 Thrivent Financial for Lutherans 0.01% of their portfolio Minneapolis, MN 8,610,0008.6m $8.5m $8.5m 0.01% Reduced -10.4m -10,370,000
10 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 7,800,0007.8m $7.8m $7.8m 0.00% Added +650.0k +650,000
11 Russell Investments Group, Ltd. 0.01% of their portfolio Seattle, WA 6,760,0006.8m $6.7m $6.7m 0.01% Added +412.0k +412,000
12 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.00% of their portfolio FRANKFURT AM MAIN, 2M 5,500,0005.5m $5.4m $5.4m 0.00% Unchanged
13 BlackRock, Inc. 0.00% of their portfolio New York, NY 5,185,0005.2m $5.1m $5.1m 0.00% Added +50.0k +50,000
14 STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio MADISON, WI 4,000,0004.0m $4.0m $4.0m 0.01% Added +1.0m +1,000,000
15 PALISADE CAPITAL MANAGEMENT, LP 0.12% of their portfolio FORT LEE, NJ 2,702,0002.7m $2.7m $2.7m 0.12% Unchanged
16 AVIVA PLC 0.00% of their portfolio LONDON, X0 2,650,0002.6m $2.6m $2.6m 0.00% Reduced -600.0k -600,000
17 SSI INVESTMENT MANAGEMENT LLC 0.12% of their portfolio Los Angeles, CA 2,156,0002.2m $2.1m $2.1m 0.12% New
18 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,961,0002.0m $1.9m $1.9m 0.00% Unchanged
19 FINANCIAL CONSULATE, INC 0.09% of their portfolio HUNT VALLEY, MD 846,000846.0k $843.9k $843.9k 0.09% Reduced -48.0k -48,000
20 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 776,000776.0k $769.4k $769.4k 0.00% Unchanged
21 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 714,000714.0k $707.3k $707.3k 0.00% Added +200.0k +200,000
22 PIPER SANDLER & CO. 0.40% of their portfolio MINNEAPOLIS, MN 548,000548.0k $542.8k $542.8k 0.40% Added +464.0k +464,000
23 Universal- Beteiligungs- und Servicegesellschaft mbH 0.00% of their portfolio FRANKFURT AM MAIN, 2M 500,000500.0k $496.1k $496.1k 0.00% Unchanged
24 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 482,000482.0k $479.6k $479.6k 0.00% Added +280.0k +280,000
25 HB Wealth Management, LLC 0.00% of their portfolio Atlanta, GA 422,000422.0k $420.6k $420.6k 0.00% Unchanged
26 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 322,000322.0k $319.0k $319.0k 0.00% Unchanged
27 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 67,00067.0k $66.4k $66.4k 0.00% Unchanged
28 Oaktree Fund Advisors, LLC 0.11% of their portfolio LOS ANGLES, CA 62,00062.0k $61.6k $61.6k 0.11% Unchanged
29 BRIGHTON JONES LLC 0.00% of their portfolio SEATTLE, WA 45,00045.0k $44.6k $44.6k 0.00% Unchanged
30 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 37,00037.0k $36.7k $36.7k 0.00% Unchanged
31 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 33,00033.0k $32.8k $32.8k 0.00% Reduced -5.0k -5,000
32 Greenspring Advisors, LLC 0.00% of their portfolio Towson, MD 13,00013.0k $12.9k $12.9k 0.00% New
33 K2 PRINCIPAL FUND, L.P. 0.68% of their portfolio TORONTO, A6 7,4737.5k $7.4m $7.4m 0.68% Unchanged
34 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 5,0005.0k $5.0k $5.0k 0.00% Unchanged
35 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 5,0005.0k $5.0k $5.0k 0.00% Unchanged
36 UBS Group AG 0.00% of their portfolio ZURICH, V8 2,0002.0k $2.0k $2.0k 0.00% Added +670 +670