SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* Crestview Partners GP, L.P. (Last) (First) (Middle) 667 MADISON AVENUE, 10TH FLOOR (Street) NEW YORK NY 10065 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol FBR & Co. [ FBRC ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 11/26/2013
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $0.001 per share ("Common Stock")	11/26/2013		S		1,389,480	D	$25.75	0	I	See footnotes.(1)(2)
Common Stock	11/26/2013		M		61,224	A	$10.96	61,224	I	See footnote.(3)
Common Stock	11/26/2013		M		26,108	A	$14.52	87,332	I	See footnote.(3)
Common Stock	11/26/2013		S		87,332	D	$25.75	0	I	See footnote.(3)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Option (Right to Buy) ("Option")	$10.96	11/26/2013		M		61,224		06/05/2013	06/05/2016	Common Stock	61,224	$0	0	I(3)	Through limited partnerships(3)
Option	$14.52	11/26/2013		M		26,108		06/01/2012	06/01/2015	Common Stock	26,108	$0	0	I(3)	Through limited partnerships(3)

1. Name and Address of Reporting Person* Crestview Partners GP, L.P. (Last) (First) (Middle) 667 MADISON AVENUE, 10TH FLOOR (Street) NEW YORK NY 10065 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* CRESTVIEW PARTNERS, L.P. (Last) (First) (Middle) C/O CRESTVIEW PARTNERS GP, L.P. 667 MADISON AVENUE (Street) NEW YORK NY 10065 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* CRESTVIEW OFFSHORE HOLDINGS (CAYMAN), L.P. (Last) (First) (Middle) C/O CRESTVIEW PARTNERS GP, L.P. 667 MADISON AVENUE (Street) NEW YORK NY 10065 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* CRESTVIEW PARTNERS (PF), L.P. (Last) (First) (Middle) C/O CRESTVIEW PARTNERS GP, L.P. 667 MADISON AVENUE (Street) NEW YORK NY 10065 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* CRESTVIEW HOLDINGS (TE), L.P. (Last) (First) (Middle) C/O CRESTVIEW PARTNERS GP, L.P. 667 MADISON AVENUE (Street) NEW YORK NY 10065 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* CRESTVIEW PARTNERS (ERISA), L.P. (Last) (First) (Middle) C/O CRESTVIEW PARTNERS GP, L.P. 667 MADISON AVENUE (Street) NEW YORK NY 10065 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Forest Holdings LLC (Last) (First) (Middle) C/O CRESTVIEW PARTNERS GP, L.P. 667 MADISON AVENUE (Street) NEW YORK NY 10065 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Forest Holdings (ERISA) LLC (Last) (First) (Middle) C/O CRESTVIEW PARTNERS GP, L.P. 667 MADISON AVENUE (Street) NEW YORK NY 10065 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. This Form 4 is being filed by more than one reporting person. Crestview Partners GP, L.P. is the general partner of Crestview Partners, L.P., Crestview Offshore Holdings (Cayman), L.P., Crestview Partners (PF), L.P., Crestview Holdings (TE), L.P. and Crestview Partners (ERISA), L.P.

2. Crestview Partners, L.P., Crestview Offshore Holdings (Cayman), L.P., Crestview Partners (PF), L.P. and Crestview Holdings (TE), L.P. are members of Forest Holdings LLC, which on November 26, 2013 sold 1,317,692 shares of common stock of the issuer and is no longer a record owner of any shares of common stock of the issuer following the reported transactions. Crestview Partners (ERISA), L.P. is the sole member of Forest Holdings (ERISA) LLC, which on November 26, 2013 sold 71,788 shares of common stock of the issuer and is no longer the record owner of any shares of common stock of the issuer following the reported transactions. Each reporting person disclaims beneficial ownership of the reported securities except and to the extent of its pecuniary interest therein.

3. On November 26, 2013, Crestview Advisors, L.L.C., which provides investment advisory and management services to certain of the reporting persons, exercised 61,224 options to buy shares of common stock of the issuer at an exercise price of $10.96 per share and 26,108 options to buy shares of common stock of the issuer at an exercise price of $14.52 per share, and sold the shares underlying such options to the Company at a price of $25.75 per share. Each reporting person disclaims beneficial ownership of such securities, except to the extent of its pecuniary interest therein, if any.

Remarks:

	Crestview Partners GP, L.P., By: Crestview, L.L.C., its General Partner by: /s/ Evelyn C. Pellicone, Chief Financial Officer	11/27/2013
	Crestview Partners, L.P., By: Crestview Partners GP, L.P., its General Partner, By: Crestview, L.L.C., its General Partner, by:/s/ Evelyn C. Pellicone, Chief Financial Officer	11/27/2013
	Crestview Offshore Holdings (Cayman), L.P., By: Crestview Partners GP, L.P., its General Partner, By: Crestview, L.L.C., its General Partner, by: /s/ Evelyn C. Pellicone, Chief Financial Officer	11/27/2013
	Crestview Partners (PF), L.P., By: Crestview Partners GP, L.P., its General Partner, by: Crestview, L.L.C., its General Partner, By:/s/ Evelyn C. Pellicone, Chief Financial Officer	11/27/2013
	Crestview Holdings (TE), L.P., By: Crestview Partners GP, L.P., its General Partner, by: Crestview, L.L.C., its General Partner, By: /s/ Evelyn C. Pellicone, Chief Financial Officer	11/27/2013
	Forest Holdings LLC, by: /s/ Evelyn C. Pellicone, Chief Financial Officer	11/27/2013
	Crestview Partners (ERISA), L.P., By: Crestview Partners GP, L.P., its General Partner, By: Crestview, L.L.C., its General Partner, by /s/ Evelyn C. Pellicone, Chief Financial Officer	11/27/2013
	Forest Holdings (ERISA) LLC, by: /s/ Evelyn C. Pellicone, Chief Financial Officer	11/27/2013
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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