Vault-13

MFA FINL INC MFA

COM · REIT · CUSIP 55272X607

189 institutional holders -4 vs Q1 2025
57,359,33857.4m shares reported held*
$543.5mreported value*
26 new 73 added 53 reduced 32 sold out net sold ≈ $31.7m (-3.4m 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 ($209.5k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $9.48. Options: 8 managers hold calls ($4.7m notional), 7 hold puts ($14.4m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 171Q4 22: 176Q1 23: 173Q2 23: 174Q3 23: 171Q4 23: 177Q1 24: 176Q2 24: 169Q3 24: 187Q4 24: 190Q1 25: 193Q2 25: 189189Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022171
Q4 2022176
Q1 2023173
Q2 2023174
Q3 2023171
Q4 2023177
Q1 2024176
Q2 2024169
Q3 2024187
Q4 2024190
Q1 2025193
Q2 2025189

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q3 23: 91 bought or addedQ3 23: 63 cut or sold outQ4 23: 72 bought or addedQ4 23: 88 cut or sold outQ4 23Q1 24: 81 bought or addedQ1 24: 80 cut or sold outQ2 24: 88 bought or addedQ2 24: 66 cut or sold outQ2 24Q3 24: 101 bought or addedQ3 24: 62 cut or sold outQ4 24: 96 bought or addedQ4 24: 78 cut or sold outQ4 24Q1 25: 101 bought or addedQ1 25: 79 cut or sold outQ2 25: 99 bought or addedQ2 25: 85 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20239163
Q4 20237288
Q1 20248180
Q2 20248866
Q3 202410162
Q4 20249678
Q1 202510179
Q2 20259985

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$5m$10m$15mQ3 24 calls: $10.0mQ3 24 puts: $5.7mQ3 24P/C 0.57Q4 24 calls: $12.3mQ4 24 puts: $4.3mQ4 24P/C 0.35Q1 25 calls: $6.1mQ1 25 puts: $4.6mQ1 25P/C 0.76Q2 25 calls: $4.7mQ2 25 puts: $14.4mQ2 25P/C 3.10
Numbers
QuarterCallsPutsP/C
Q3 2024$10.0m$5.7m0.57
Q4 2024$12.3m$4.3m0.35
Q1 2025$6.1m$4.6m0.76
Q2 2025$4.7m$14.4m3.10

Biggest buyers

Balyasny Asset Management L.P. Added +977,820+977.8k
WOLVERINE ASSET MANAGEMENT LLC New +960,986+961.0k
MILLENNIUM MANAGEMENT LLC Added +618,639+618.6k
FIRST TRUST ADVISORS LP Added +617,759+617.8k
D. E. Shaw & Co., Inc. New +525,133+525.1k
VICTORY CAPITAL MANAGEMENT INC Added +488,216+488.2k
EMG Holdings, L.P. Added +371,915+371.9k
ROYAL BANK OF CANADA Added +318,276+318.3k
DARK FOREST CAPITAL MANAGEMENT LP Added +220,584+220.6k
Cubist Systematic Strategies, LLC New +214,612+214.6k

Biggest sellers

VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. Sold out -6,030,535-6.0m
NATIXIS ADVISORS, LLC Sold out -1,085,679-1.1m
WELLINGTON MANAGEMENT GROUP LLP Reduced -558,153-558.2k
BlackRock, Inc. Reduced -466,077-466.1k
JANE STREET GROUP, LLC Sold out -298,927-298.9k
Qube Research & Technologies Ltd Sold out -273,619-273.6k
CITIGROUP INC Reduced -222,156-222.2k
NORGES BANK Reduced -184,306-184.3k
RENAISSANCE TECHNOLOGIES LLC Reduced -153,875-153.9k
CHARLES SCHWAB INVESTMENT MANAGEMENT INC Reduced -126,715-126.7k

Biggest calls

Centiva Capital, LP Reduced $1.9m200.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $1.6m164.0k shares
CITADEL ADVISORS LLC Added $705.7k74.6k shares
GROUP ONE TRADING LLC Added $178.8k18.9k shares
WOLVERINE TRADING, LLC Reduced $160.0k16.6k shares
JANE STREET GROUP, LLC Reduced $114.5k12.1k shares
SIMPLEX TRADING, LLC Reduced $51.0k5.4k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

PEAK6 LLC New $8.9m941.0k shares
GROUP ONE TRADING LLC Added $1.6m167.1k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $1.4m152.1k shares
Caption Management, LLC Unchanged $1.4m150.0k shares
SIMPLEX TRADING, LLC Added $535.0k56.6k shares
CITADEL ADVISORS LLC Added $531.7k56.2k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 5.2% new 5.3m≈ $51.2m 2026-04-30

Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD CAPITAL MANAGEMENT LLC)

Insider purchases and sales in Q2 2025

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

None reported in Q2 2025.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 10,230,97510.2m $96.8m $96.8m 0.00% Added +48.7k +48,725
2 BlackRock, Inc. 0.00% of their portfolio New York, NY 9,199,8529.2m $87.0m $87.0m 0.00% Reduced -466.1k -466,077
3 WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio Boston, MA 3,482,5663.5m $32.9m $32.9m 0.01% Reduced -558.2k -558,153
4 Balyasny Asset Management L.P. 0.06% of their portfolio Chicago, IL 2,820,3932.8m $26.7m $26.7m 0.06% Added +977.8k +977,820
5 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 2,580,9482.6m $25.3m $25.3m 0.00% Added +6.4k +6,422
6 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 2,489,6862.5m $23.6m $23.6m 0.00% Added +54.9k +54,944
7 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 1,671,8901.7m $15.8m $15.8m 0.00% Reduced -126.7k -126,715
8 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 1,647,6121.6m $15.6m $15.6m 0.00% Added +139.2k +139,156
9 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.02% of their portfolio CAUSEWAY BAY, K3 1,205,2631.2m $11.4m $11.4m 0.02% Added +89.8k +89,791
10 FMR LLC 0.00% of their portfolio BOSTON, MA 1,169,8581.2m $11.1m $11.1m 0.00% Reduced -53.4k -53,418
11 FIRST TRUST ADVISORS LP 0.01% of their portfolio Wheaton, IL 1,022,0651.0m $9.7m $9.7m 0.01% Added +617.8k +617,759
12 EMG Holdings, L.P. 11.87% of their portfolio OLD GREENWICH, CT 979,969980.0k $9.3m $9.3m 11.87% Added +371.9k +371,915
13 WOLVERINE ASSET MANAGEMENT LLC 0.15% of their portfolio CHICAGO, IL 960,986961.0k $9.1m $9.1m 0.15% New
14 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 946,428946.4k $9.0m $9.0m 0.00% Reduced -35.3k -35,269
15 VAN ECK ASSOCIATES CORP 0.01% of their portfolio NEW YORK, NY 846,551846.6k $8.0m $8.0m 0.01% Reduced -19.7k -19,747
16 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 784,910784.9k $7.4m $7.4m 0.00% Added +93.5k +93,502
17 Allianz Asset Management GmbH 0.01% of their portfolio MUNICH, 2M 778,887778.9k $7.4m $7.4m 0.01% Reduced -51.9k -51,943
18 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 706,483706.5k $6.7m $6.7m 0.01% Added +618.6k +618,639
19 LSV ASSET MANAGEMENT 0.01% of their portfolio CHICAGO, IL 608,107608.1k $5.8m $5.8m 0.01% Added +32.1k +32,132
20 UBS Group AG 0.00% of their portfolio ZURICH, V8 581,306581.3k $5.5m $5.5m 0.00% Added +102.7k +102,724
21 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 554,290554.3k $5.2m $5.2m 0.00% Reduced -6.5k -6,530
22 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 535,417535.4k $5.1m $5.1m 0.00% Added +27.8k +27,837
23 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 532,220532.2k $5.0m $5.0m 0.00% Reduced -77.5k -77,525
24 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 525,133525.1k $5.0m $5.0m 0.00% New
25 VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio San Antonio, TX 500,449500.4k $4.7m $4.7m 0.00% Added +488.2k +488,216
26 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 430,218430.2k $4.1m $4.1m 0.00% Reduced -9.8k -9,812
27 VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio ATLANTA, GA 401,678401.7k $3.8m $3.8m 0.00% Reduced -124.0k -124,024
28 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 390,550390.6k $3.7m $3.7m 0.00% Added +318.3k +318,276
29 TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio NEW YORK, NY 366,891366.9k $3.5m $3.5m 0.01% Reduced -60.5k -60,514
30 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 351,659351.7k $3.3m $3.3m 0.00% Added +53.8k +53,786
31 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 304,325304.3k $2.9m $2.9m 0.00% Reduced -47.2k -47,190
32 DARK FOREST CAPITAL MANAGEMENT LP 0.11% of their portfolio NEW YORK, NY 291,984292.0k $2.8m $2.8m 0.11% Added +220.6k +220,584
33 GraniteShares Advisors LLC 1.61% of their portfolio NEW YORK, NY 276,740276.7k $2.6m $2.6m 1.61% Added +17.3k +17,292
34 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 264,256264.3k $2.5m $2.5m 0.00% Reduced -46.0k -46,018
35 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 249,118249.1k $2.4m $2.4m 0.00% Reduced -222.2k -222,156
36 GRATIA CAPITAL, LLC 2.32% of their portfolio LOS ANGELES, CA 225,469225.5k $2.1m $2.1m 2.32% Unchanged
37 Cubist Systematic Strategies, LLC 0.02% of their portfolio STAMFORD, CT 214,612214.6k $2.0m $2.0m 0.02% New
38 Corient Private Wealth LP 0.00% of their portfolio MIAMI, FL 204,014204.0k $1.9m $1.9m 0.00% Added +103.4k +103,427
39 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 199,204199.2k $1.9m $1.9m 0.00% Added +101.1k +101,083
40 Swiss National Bank 0.00% of their portfolio ZURICH, V8 195,775195.8k $1.9m $1.9m 0.00% Reduced -2.0k -2,000
41 Independent Advisor Alliance 0.05% of their portfolio CHARLOTTE, NC 193,993194.0k $1.8m $1.8m 0.05% Added +5.5k +5,474
42 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 192,629192.6k $1.8m $1.8m 0.00% Added +11.5k +11,473
43 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 185,950185.9k $1.8m $1.8m 0.00% Reduced -153.9k -153,875
44 TWO SIGMA ADVISERS, LP 0.00% of their portfolio NEW YORK, NY 185,500185.5k $1.8m $1.8m 0.00% Added +21.0k +21,000
45 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 167,481167.5k $1.6m $1.6m 0.00% Added +11.8k +11,800
46 CAXTON ASSOCIATES LLP 0.04% of their portfolio LONDON, X0 167,318167.3k $1.6m $1.6m 0.04% Unchanged
47 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 166,937166.9k $1.6m $1.6m 0.00% Added +71.6k +71,644
48 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 159,342159.3k $1.5m $1.5m 0.00% Reduced -7.0k -7,018
49 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 149,191149.2k $1.4m $1.4m 0.00% Added +123.9k +123,941
50 Delphi Financial Group, Inc. 0.96% of their portfolio Wilmington, DE 144,000144.0k $1.4m $1.4m 0.96% Added +50.0k +50,000
51 AXS Investments LLC 0.55% of their portfolio PORT CHESTER, NY 142,453142.5k $1.3m $1.3m 0.55% Reduced -7.4k -7,437
52 Legal & General Group Plc 0.00% of their portfolio London, X0 141,359141.4k $1.3m $1.3m 0.00% Added +11.9k +11,912
53 Penserra Capital Management LLC 0.02% of their portfolio ORINDA, CA 132,846132.8k $1.3m $1.3m 0.02% Added +8.8k +8,781
54 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 120,478120.5k $1.1m $1.1m 0.00% Added +54.4k +54,417
55 BlueCrest Capital Management Ltd 0.12% of their portfolio ST HELIER, Y9 117,838117.8k $1.1m $1.1m 0.12% Reduced -49.3k -49,322
56 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 114,320114.3k $1.1m $1.1m 0.00% Added +5.7k +5,684
57 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 111,785111.8k $1.1m $1.1m 0.00% Added +16.2k +16,211
58 VIRGINIA RETIREMENT SYSTEMS ET Al 0.01% of their portfolio RICHMOND, VA 106,017106.0k $1.0m $1.0m 0.01% Reduced -12.7k -12,700
59 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 104,453104.5k $989.0k $989.0k 0.00% Added +6.0k +6,030
60 America First Investment Advisors, LLC 0.19% of their portfolio OMAHA, NE 103,225103.2k $976.5k $976.5k 0.19% Unchanged
61 GROUP ONE TRADING LLC 0.03% of their portfolio CHICAGO, IL 101,613101.6k $961.3k $961.3k 0.03% Added +61.9k +61,905
62 CWM, LLC 0.00% of their portfolio OMAHA, NE 96,77296.8k $915.0k $915.0k 0.00% Added +94.1k +94,102
63 Caption Management, LLC 0.08% of their portfolio OKLAHOMA CITY, OK 95,27995.3k $901.3k $901.3k 0.08% Reduced -9.7k -9,721
64 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio WEST SACRAMENTO, CA 94,31194.3k $892.2k $892.2k 0.00% Reduced -1.1k -1,083
65 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 83,96384.0k $794.3k $794.3k 0.00% Reduced -115 -115
66 Almitas Capital LLC 0.18% of their portfolio SANTA MONICA, CA 77,44077.4k $732.6k $732.6k 0.18% Unchanged
67 NORGES BANK 0.00% of their portfolio OSLO, Q8 75,73775.7k $716.5k $716.5k 0.00% Reduced -184.3k -184,306
68 BAILARD, INC. 0.02% of their portfolio Foster City, CA 71,73671.7k $678.6k $678.6k 0.02% Added +28.5k +28,536
69 Curi Capital, LLC 0.01% of their portfolio CHICAGO, IL 68,96869.0k $652.4k $652.4k 0.01% Unchanged
70 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 68,94968.9k $652.3k $652.3k 0.00% Reduced -6.6k -6,582
71 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 62,09062.1k $587.4k $587.4k 0.00% Added +3.1k +3,146
72 Allspring Global Investments Holdings, LLC 0.00% of their portfolio CHARLOTTE, NC 61,59961.6k $587.0k $587.0k 0.00% New
73 MetLife Investment Management, LLC 0.00% of their portfolio Whippany, NJ 60,99861.0k $577.0k $577.0k 0.00% Added +4.4k +4,355
74 Cannell & Spears LLC 0.01% of their portfolio NEW YORK, NY 57,70057.7k $545.8k $545.8k 0.01% Unchanged
75 INTECH INVESTMENT MANAGEMENT LLC 0.00% of their portfolio WEST PALM BEACH, FL 54,71154.7k $517.6k $517.6k 0.00% Reduced -31.1k -31,109
76 Williams Jones Wealth Management, LLC. 0.01% of their portfolio NEW YORK, NY 50,66250.7k $479.3k $479.3k 0.01% Reduced -5.0k -5,000
77 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio Toronto, A6 50,39750.4k $476.8k $476.8k 0.00% Reduced -1.2k -1,151
78 NISA INVESTMENT ADVISORS, LLC 0.00% of their portfolio ST. LOUIS, MO 49,40049.4k $486.7k $486.7k 0.00% Reduced -270 -270
79 Centiva Capital, LP 0.03% of their portfolio New York, NY 49,32249.3k $466.6k $466.6k 0.03% Added +2.3k +2,335
80 Composition Wealth, LLC 0.01% of their portfolio LOS ANGELES, CA 47,78147.8k $452.0k $452.0k 0.01% Unchanged
81 STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.00% of their portfolio TALLAHASSEE, FL 45,78745.8k $433.1k $433.1k 0.00% Unchanged
82 Capital Square, LLC 0.22% of their portfolio ATHENS, TN 44,19544.2k $413.7k $413.7k 0.22% Added +725 +725
83 JANUS HENDERSON GROUP PLC 0.00% of their portfolio LONDON, X0 42,29542.3k $399.9k $399.9k 0.00% Unchanged
84 PRUDENTIAL FINANCIAL INC 0.00% of their portfolio NEWARK, NJ 41,96042.0k $396.9k $396.9k 0.00% Reduced -22.3k -22,306
85 Inspire Investing, LLC 0.04% of their portfolio MERIDIAN, ID 41,46441.5k $392.2k $392.2k 0.04% Added +8.0k +8,041
86 Dynamic Technology Lab Private Ltd 0.05% of their portfolio SINGAPORE, U0 41,05541.1k $388.0k $388.0k 0.05% New
87 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 40,52840.5k $383.6k $383.6k 0.00% Added +4.5k +4,479
88 Nebula Research & Development LLC 0.03% of their portfolio New York, NY 39,22739.2k $371.1k $371.1k 0.03% Reduced -10.1k -10,082
89 MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio DENVER, CO 37,67737.7k $356.4k $356.4k 0.00% Added +2.2k +2,203
90 Advisors Asset Management, Inc. 0.01% of their portfolio Monument, CO 36,37936.4k $344.1k $344.1k 0.01% New
91 Gotham Asset Management, LLC 0.00% of their portfolio NEW YORK, NY 35,44035.4k $335.3k $335.3k 0.00% Added +10.0k +9,977
92 QRG CAPITAL MANAGEMENT, INC. 0.00% of their portfolio BERWYN, PA 34,17334.2k $323.3k $323.3k 0.00% Reduced -1.6k -1,598
93 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 33,63833.6k $318.2k $318.2k 0.00% Unchanged
94 EntryPoint Capital, LLC 0.15% of their portfolio NEW YORK, NY 32,52432.5k $307.7k $307.7k 0.15% Added +18.5k +18,490
95 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.00% of their portfolio BOSTON, MA 30,12630.1k $285.0k $285.0k 0.00% New
96 ARIZONA STATE RETIREMENT SYSTEM 0.00% of their portfolio PHOENIX, AZ 29,92129.9k $283.1k $283.1k 0.00% Added +639 +639
97 FOX RUN MANAGEMENT, L.L.C. 0.05% of their portfolio GREENWICH, CT 29,06229.1k $274.9k $274.9k 0.05% New
98 AlphaQuest LLC 0.03% of their portfolio New York, NY 28,78928.8k $272.3k $272.3k 0.03% Added +27.6k +27,615
99 SIMPLEX TRADING, LLC 0.01% of their portfolio CHICAGO, IL 28,70228.7k $271.0k $271.0k 0.01% Added +28.2k +28,197
100 TEACHER RETIREMENT SYSTEM OF TEXAS 0.00% of their portfolio AUSTIN, TX 28,52928.5k $269.9k $269.9k 0.00% Reduced -11.1k -11,063