BAYVIEW ASSET MANAGEMENT, LLC

CORAL GABLES, FL · CIK 1767366 · 13F filing filed 2026-05-15

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)

$119.8m reported value +7.9% vs Q4 2025

42positions

56.0%in top 10

16 new 12 added 10 reduced 19 sold out vs Q4 2025

Options: 1 call positions ($1.6m notional), 15 put positions ($138.4m notional) – listed below, not included above.

Holdings, Q1 2026

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	BANC OF CALIFORNIA INC COM BANC	BANC	725,000	$12.7m10.64%	10.64%	Unchanged
2	BERKSHIRE HILLS BANCORP INC COM BBT	BBT	394,828	$11.8m9.89%	9.89%	Reduced -150.0k	-150,000 -27.5%
3	SELECT SECTOR SPDR TR FINANCIAL XLF	XLF	187,000	$9.2m7.71%	7.71%	Added +152.8k	+152,800 446.8%
4	FIDELITY NATIONAL FINANCIAL FNF GROUP COM FNF	FNF	183,100	$8.5m7.09%	7.09%	New
5	APOLLO GLOBAL MGMT INC COM APO	APO	40,000	$4.5m3.72%	3.72%	Added +22.0k	+22,000 122.2%
6	OLD NATL BANCORP IND COM ONB	ONB	190,000	$4.2m3.51%	3.51%	Added +45.0k	+45,000 31.0%
7	COMMERCE BANCSHARES INC COM CBSH	CBSH	85,000	$4.2m3.49%	3.49%	New
8	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	7,140	$4.1m3.44%	3.44%	New
9	JPMORGAN CHASE & CO COM JPM	JPM	13,500	$4.0m3.31%	3.31%	Added +1.0k	+1,000 8.0%
10	ASSOCIATED BANC CORP COM ASB	ASB	150,000	$3.9m3.24%	3.24%	New
11	RITHM CAPITAL CORP COM NEW RITM	RITM	405,707	$3.8m3.21%	3.21%	Reduced -20.3k	-20,270 -4.8%
12	BANNER CORP COM NEW BANR	BANR	60,000	$3.6m3.04%	3.04%	New
13	ARES CAPITAL CORP COM ARCC	ARCC	185,258	$3.3m2.79%	2.79%	Reduced -84.8k	-84,774 -31.4%
14	COLUMBIA BKG SYS INC COM COLB	COLB	111,586	$3.1m2.56%	2.56%	New
15	S&P GLOBAL INC COM SPGI	SPGI	6,650	$2.8m2.36%	2.36%	Added +3.5k	+3,450 107.8%
16	SCHWAB CHARLES CORP COM SCHW	SCHW	28,977	$2.7m2.27%	2.27%	New
17	OFG BANCORP COM OFG	OFG	61,794	$2.5m2.09%	2.09%	New
18	F N B CORP COM FNB	FNB	145,979	$2.4m2.04%	2.04%	Added +2.0k	+1,982 1.4%
19	UMB FINL CORP COM UMBF	UMBF	20,968	$2.4m1.97%	1.97%	Added +11.0k	+10,968 109.7%
20	CBRE GROUP INC CL A CBRE	CBRE	17,350	$2.4m1.96%	1.96%	New
21	FLAGSTAR FINANCIAL INC COM NEW FLG	FLG	166,666	$2.2m1.83%	1.83%	Unchanged
22	BANK AMERICA CORP COM BAC	BAC	45,000	$2.2m1.83%	1.83%	Added +15.0k	+15,000 50.0%
23	FIRST FINL BANCORP OH COM FFBC	FFBC	76,611	$2.1m1.78%	1.78%	Added +16.6k	+16,611 27.7%
24	TOWNEBANK PORTSMOUTH VA COM TOWN	TOWN	63,302	$2.1m1.78%	1.78%	Added +8.3k	+8,302 15.1%
25	ELLINGTON FINANCIAL INC COM EFC	EFC	176,500	$2.1m1.75%	1.75%	New
26	HORIZON BANCORP INC COM HBNC	HBNC	118,372	$2.0m1.64%	1.64%	Added +22.9k	+22,910 24.0%
27	NORTHWEST BANCSHARES INC MD COM NWBI	NWBI	151,965	$1.9m1.61%	1.61%	Added +62.0k	+61,965 68.8%
28	FINANCIAL INSTNS INC COM FISI	FISI	50,000	$1.6m1.32%	1.32%	Unchanged
29	FIRST BANCORP P R COM NEW FBP	FBP	64,646	$1.4m1.15%	1.15%	New
30	NORTHRIM BANCORP INC COM NRIM	NRIM	50,540	$1.2m0.97%	0.97%	New
31	FULTON FINL CORP PA COM FULT	FULT	47,000	$956.0k0.80%	0.80%	Reduced -10.5k	-10,509 -18.3%
32	JONES LANG LASALLE INC COM JLL	JLL	1,733	$527.4k0.44%	0.44%	New
33	FIRST BUSEY CORP COM NEW BUSE	BUSE	20,000	$505.4k0.42%	0.42%	Reduced -51.9k	-51,920 -72.2%
34	SOUTHSIDE BANCSHARES INC COM SBSI	SBSI	15,000	$466.4k0.39%	0.39%	Reduced -70.5k	-70,457 -82.5%
35	F&G ANNUITIES & LIFE INC COMMON STOCK FG	FG	15,000	$379.8k0.32%	0.32%	New
36	TAYLOR MORRISON HOME CORP COM TMHC	TMHC	6,000	$349.4k0.29%	0.29%	Reduced -3.0k	-3,000 -33.3%
37	GLOBE LIFE INC COM GL	GL	2,500	$347.9k0.29%	0.29%	Reduced -5.0k	-5,000 -66.7%
38	PROGRESSIVE CORP COM PGR	PGR	1,500	$297.4k0.25%	0.25%	New
39	CITIGROUP INC COM NEW C	C	2,500	$283.5k0.24%	0.24%	Reduced -11.0k	-11,000 -81.5%
40	WESBANCO INC COM WSBC	WSBC	7,500	$258.7k0.22%	0.22%	Reduced -72.8k	-72,800 -90.7%
41	BANKUNITED INC COM BKU	BKU	5,000	$225.8k0.19%	0.19%	Unchanged
42	NBT BANCORP INC COM NBTB	NBTB	5,168	$220.1k0.18%	0.18%	New

Sold out since Q4 2025

Security	Ticker	Shares held before	Value then
VANECK ETF TRUST BIZD	BIZD	274,000	$3.9m274.0k shares
BLACKSTONE SECD LENDING FD BXSL	BXSL	107,000	$2.8m107.0k shares
US BANCORP DEL USB	USB	50,000	$2.7m50.0k shares
MFA FINL INC MFA	MFA	252,500	$2.4m252.5k shares
BROWN & BROWN INC BRO	BRO	28,109	$2.2m28.1k shares
REGIONS FINANCIAL CORP NEW RF	RF	80,000	$2.2m80.0k shares
CHUBB LIMITED CB	CB	6,000	$1.9m6.0k shares
ISHARES TR ITB	ITB	18,600	$1.8m18.6k shares
PNC FINL SVCS GROUP INC PNC	PNC	8,000	$1.7m8.0k shares
VISA INC V	V	4,760	$1.7m4.8k shares
RAYMOND JAMES FINL INC RJF	RJF	10,148	$1.6m10.1k shares
TRUIST FINL CORP TFC	TFC	32,000	$1.6m32.0k shares
WALKER & DUNLOP INC WD	WD	24,800	$1.5m24.8k shares
TRAVELERS COMPANIES INC TRV	TRV	5,000	$1.5m5.0k shares
HARTFORD INSURANCE GROUP INC HIG	HIG	9,000	$1.2m9.0k shares
INTERCONTINENTAL EXCHANGE IN ICE	ICE	4,900	$793.6k4.9k shares
PINNACLE FINL PARTNERS INC		7,500	$715.6k7.5k shares
POPULAR INC BPOP	BPOP	3,000	$373.6k3.0k shares
FIRST AMERN FINL CORP FAF	FAF	5,000	$307.2k5.0k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
INVESCO EXCHANGE TRADED FD T RSP · Put	RSP	Put	285,000	$54.7m285.0k shares	Reduced
SPDR SER TR KRE · Put	KRE	Put	365,000	$23.8m365.0k shares	Added
SELECT SECTOR SPDR TR XLF · Put	XLF	Put	250,000	$12.3m250.0k shares	Added
FIDELITY NATIONAL FINANCIAL FNF · Put	FNF	Put	190,000	$8.8m190.0k shares	New
JPMORGAN CHASE & CO JPM · Put	JPM	Put	20,000	$5.9m20.0k shares	Reduced
INVESCO QQQ TR QQQ · Put	QQQ	Put	10,000	$5.8m10.0k shares	New
APOLLO GLOBAL MGMT INC APO · Put	APO	Put	40,000	$4.5m40.0k shares	Added
RITHM CAPITAL CORP RITM · Put	RITM	Put	450,000	$4.3m450.0k shares	Unchanged
ARES CAPITAL CORP ARCC · Put	ARCC	Put	200,000	$3.6m200.0k shares	Reduced
S&P GLOBAL INC SPGI · Put	SPGI	Put	7,500	$3.2m7.5k shares	Added
BANK AMERICA CORP BAC · Put	BAC	Put	65,000	$3.2m65.0k shares	Added
SCHWAB CHARLES CORP SCHW · Put	SCHW	Put	32,500	$3.1m32.5k shares	New
CBRE GROUP INC CBRE · Put	CBRE	Put	20,000	$2.7m20.0k shares	New
ISHARES TR REM · Put	REM	Put	100,000	$2.1m100.0k shares	New
SPDR SER TR KRE · Call	KRE	Call	25,000	$1.6m25.0k shares	New
SPDR SER TR KIE · Put	KIE	Put	10,000	$550.0k10.0k 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