BAYVIEW ASSET MANAGEMENT, LLC

CORAL GABLES, FL · CIK 1767366 · 13F filing filed 2025-08-13

SEC-registered investment adviser since 2012 · limited liability company

Assets managed$64.2bn
Staff556 · 195 in investment roles
Main clients (by assets)Private funds 98%, Insurers 2%
Private funds23 (22 hedge) · $65.3bn gross assets
Websitebayview.com
Form ADV · 2026-05-05SEC adviser record

Legal entityBAYVIEW ASSET MANAGEMENT, LLC (US)

$99.4m reported value +11.6% vs Q1 2025

35positions

71.2%in top 10

8 new 8 added 10 reduced 6 sold out vs Q1 2025

Options: 4 call positions ($10.8m notional), 18 put positions ($151.0m notional) – listed below, not included above.

Holdings, Q2 2025

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	GUILD HLDGS CO CL A CL A		1,595,844	$31.5m31.76%	31.76%	Unchanged
2	BANC OF CALIFORNIA INC COM BANC	BANC	993,130	$14.0m14.04%	14.04%	Unchanged
3	BERKSHIRE HILLS BANCORP INC COM BBT	BBT	344,828	$8.6m8.69%	8.69%	Unchanged
4	BANK NEW YORK MELLON CORP COM BNY	BNY	35,500	$3.2m3.26%	3.26%	New
5	JPMORGAN CHASE & CO COM JPM	JPM	9,000	$2.6m2.63%	2.63%	Reduced -57	-57 -0.6%
6	US BANCORP DEL COM NEW USB	USB	50,000	$2.3m2.28%	2.28%	New
7	FINANCIAL INSTNS INC COM FISI	FISI	87,584	$2.2m2.26%	2.26%	Added +7.5k	+7,499 9.4%
8	PNC FINL SVCS GROUP INC COM PNC	PNC	12,000	$2.2m2.25%	2.25%	Reduced -3.0k	-3,000 -20.0%
9	BANK AMERICA CORP COM BAC	BAC	42,500	$2.0m2.02%	2.02%	Added +5.7k	+5,700 15.5%
10	REGIONS FINANCIAL CORP NEW COM RF	RF	84,000	$2.0m1.99%	1.99%	Reduced -16.0k	-16,000 -16.0%
11	STATE STR CORP COM STT	STT	18,250	$1.9m1.95%	1.95%	Reduced -1.8k	-1,750 -8.8%
12	TRAVELERS COMPANIES INC COM TRV	TRV	6,700	$1.8m1.80%	1.80%	New
13	ANNALY CAPITAL MANAGEMENT IN COM NEW NLY	NLY	95,000	$1.8m1.80%	1.80%	New
14	FLAGSTAR FINANCIAL INC COM NEW FLG	FLG	166,666	$1.8m1.78%	1.78%	Unchanged
15	WESBANCO INC COM WSBC	WSBC	54,000	$1.7m1.72%	1.72%	Added +41.8k	+41,811 343.0%
16	CITIGROUP INC COM NEW C	C	20,000	$1.7m1.71%	1.71%	Reduced -9.5k	-9,500 -32.2%
17	POPULAR INC COM NEW BPOP	BPOP	14,307	$1.6m1.59%	1.59%	Added +1.7k	+1,672 13.2%
18	SCHWAB CHARLES CORP COM SCHW	SCHW	17,250	$1.6m1.58%	1.58%	Added +6.7k	+6,744 64.2%
19	FIRST BUSEY CORP COM NEW BUSE	BUSE	64,385	$1.5m1.48%	1.48%	Added +40.9k	+40,876 173.9%
20	BANKUNITED INC COM BKU	BKU	40,000	$1.4m1.43%	1.43%	Added +12.5k	+12,500 45.5%
21	NORTHERN TR CORP COM NTRS	NTRS	10,000	$1.3m1.28%	1.28%	Reduced -10.3k	-10,300 -50.7%
22	TRUIST FINL CORP COM TFC	TFC	27,500	$1.2m1.19%	1.19%	New
23	FIRST AMERN FINL CORP COM FAF	FAF	19,187	$1.2m1.19%	1.19%	Added +2.4k	+2,407 14.3%
24	ZIONS BANCORPORATION N A COM ZION	ZION	20,000	$1.0m1.05%	1.05%	New
25	OLD NATL BANCORP IND COM ONB	ONB	46,684	$996.2k1.00%	1.00%	Unchanged
26	TAYLOR MORRISON HOME CORP COM TMHC	TMHC	16,087	$988.1k0.99%	0.99%	Unchanged
27	RITHM CAPITAL CORP COM NEW RITM	RITM	87,500	$987.9k0.99%	0.99%	Unchanged
28	PULTE GROUP INC COM PHM	PHM	9,330	$983.9k0.99%	0.99%	Reduced -5.0k	-4,957 -34.7%
29	ESSENT GROUP LTD COM ESNT	ESNT	12,300	$747.0k0.75%	0.75%	Unchanged
30	D R HORTON INC COM DHI	DHI	4,890	$630.4k0.63%	0.63%	Reduced -5.5k	-5,500 -52.9%
31	UMB FINL CORP COM UMBF	UMBF	5,500	$578.4k0.58%	0.58%	New
32	GLOBE LIFE INC COM GL	GL	3,000	$372.9k0.38%	0.38%	Reduced -2.0k	-2,000 -40.0%
33	F N B CORP COM FNB	FNB	25,000	$364.5k0.37%	0.37%	New
34	JONES LANG LASALLE INC COM JLL	JLL	1,226	$313.6k0.32%	0.32%	Reduced -3.8k	-3,840 -75.8%
35	MERITAGE HOMES CORP COM MTH	MTH	3,896	$260.9k0.26%	0.26%	Unchanged

Sold out since Q1 2025

Security	Ticker	Shares held before	Value then
AVALONBAY CMNTYS INC AVB	AVB	10,000	$2.1m10.0k shares
WEBSTER FINL CORP WBS	WBS	35,699	$1.8m35.7k shares
MASTERCARD INCORPORATED MA	MA	2,940	$1.6m2.9k shares
HUNTINGTON BANCSHARES INC HBAN	HBAN	100,000	$1.5m100.0k shares
VISA INC V	V	3,540	$1.2m3.5k shares
S&P GLOBAL INC SPGI	SPGI	2,400	$1.2m2.4k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
SPDR S&P 500 ETF TR SPY · Put	SPY	Put	162,200	$100.2m162.2k shares	Reduced
SPDR SER TR KRE · Put	KRE	Put	125,000	$7.4m125.0k shares	Reduced
JPMORGAN CHASE & CO JPM · Put	JPM	Put	20,000	$5.8m20.0k shares	Added
SPDR SER TR KRE · Call	KRE	Call	75,000	$4.5m75.0k shares	Added
BANK NEW YORK MELLON CORP BNY · Put	BNY	Put	45,000	$4.1m45.0k shares	New
BANK AMERICA CORP BAC · Put	BAC	Put	75,000	$3.5m75.0k shares	Added
PNC FINL SVCS GROUP INC PNC · Put	PNC	Put	15,000	$2.8m15.0k shares	Unchanged
TRAVELERS COMPANIES INC TRV · Put	TRV	Put	10,000	$2.7m10.0k shares	New
STATE STR CORP STT · Put	STT	Put	25,000	$2.7m25.0k shares	Unchanged
CITIGROUP INC C · Put	C	Put	30,000	$2.6m30.0k shares	Unchanged
HARTFORD INSURANCE GROUP INC HIG · Call	HIG	Call	20,000	$2.5m20.0k shares	New
NORTHERN TR CORP NTRS · Put	NTRS	Put	20,000	$2.5m20.0k shares	Reduced
ANNALY CAPITAL MANAGEMENT IN NLY · Put	NLY	Put	125,000	$2.4m125.0k shares	New
REGIONS FINANCIAL CORP NEW RF · Put	RF	Put	100,000	$2.4m100.0k shares	Unchanged
SCHWAB CHARLES CORP SCHW · Put	SCHW	Put	25,000	$2.3m25.0k shares	Added
US BANCORP DEL USB · Put	USB	Put	50,000	$2.3m50.0k shares	New
TRUIST FINL CORP TFC · Put	TFC	Put	50,000	$2.1m50.0k shares	New
ZIONS BANCORPORATION N A ZION · Put	ZION	Put	40,000	$2.1m40.0k shares	New
ALLSTATE CORP ALL · Call	ALL	Call	10,000	$2.0m10.0k shares	New
ISHARES TR ITB · Call	ITB	Call	19,500	$1.8m19.5k shares	Reduced
ISHARES TR IYR · Put	IYR	Put	18,000	$1.7m18.0k shares	New
ISHARES TR REM · Put	REM	Put	71,500	$1.5m71.5k shares	New

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
FORBRIGHT INC FRBT · 13G · filed 2026-08-14	FRBT	6.1%≈ $35.9m	new	13G	2026-08-14