MFA FINL INC MFA
COM · REIT · CUSIP 55272X607
- SectorReal estate
- IndustryReal Estate Investment Trusts
- HeadquartersNew York, NY
- FilingsSEC EDGAR
* 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
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 171 |
| Q4 2022 | 176 |
| Q1 2023 | 173 |
| Q2 2023 | 174 |
| Q3 2023 | 171 |
| Q4 2023 | 177 |
| Q1 2024 | 176 |
| Q2 2024 | 169 |
| Q3 2024 | 187 |
| Q4 2024 | 190 |
| Q1 2025 | 193 |
| Q2 2025 | 189 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2023 | 91 | 63 |
| Q4 2023 | 72 | 88 |
| Q1 2024 | 81 | 80 |
| Q2 2024 | 88 | 66 |
| Q3 2024 | 101 | 62 |
| Q4 2024 | 96 | 78 |
| Q1 2025 | 101 | 79 |
| Q2 2025 | 99 | 85 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $10.0m | $5.7m | 0.57 |
| Q4 2024 | $12.3m | $4.3m | 0.35 |
| Q1 2025 | $6.1m | $4.6m | 0.76 |
| Q2 2025 | $4.7m | $14.4m | 3.10 |
Biggest buyers
| Balyasny Asset Management L.P. | Added | +977.8k |
| WOLVERINE ASSET MANAGEMENT LLC | New | +961.0k |
| MILLENNIUM MANAGEMENT LLC | Added | +618.6k |
| FIRST TRUST ADVISORS LP | Added | +617.8k |
| D. E. Shaw & Co., Inc. | New | +525.1k |
| VICTORY CAPITAL MANAGEMENT INC | Added | +488.2k |
| EMG Holdings, L.P. | Added | +371.9k |
| ROYAL BANK OF CANADA | Added | +318.3k |
| DARK FOREST CAPITAL MANAGEMENT LP | Added | +220.6k |
| Cubist Systematic Strategies, LLC | New | +214.6k |
Biggest sellers
| VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. | Sold out | -6.0m |
| NATIXIS ADVISORS, LLC | Sold out | -1.1m |
| WELLINGTON MANAGEMENT GROUP LLP | Reduced | -558.2k |
| BlackRock, Inc. | Reduced | -466.1k |
| JANE STREET GROUP, LLC | Sold out | -298.9k |
| Qube Research & Technologies Ltd | Sold out | -273.6k |
| CITIGROUP INC | Reduced | -222.2k |
| NORGES BANK | Reduced | -184.3k |
| RENAISSANCE TECHNOLOGIES LLC | Reduced | -153.9k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | Reduced | -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.
| Holder | Stake |
|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 5.2% |
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
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.00% of their portfolio | 10.2m $96.8m | Added +48.7k |
| BlackRock, Inc. 0.00% of their portfolio | 9.2m $87.0m | Reduced -466.1k |
| WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio | 3.5m $32.9m | Reduced -558.2k |
| Balyasny Asset Management L.P. 0.06% of their portfolio | 2.8m $26.7m | Added +977.8k |
| STATE STREET CORP 0.00% of their portfolio | 2.6m $25.3m | Added +6.4k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 2.5m $23.6m | Added +54.9k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 1.7m $15.8m | Reduced -126.7k |
| Invesco Ltd. 0.00% of their portfolio | 1.6m $15.6m | Added +139.2k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.02% of their portfolio | 1.2m $11.4m | Added +89.8k |
| FMR LLC 0.00% of their portfolio | 1.2m $11.1m | Reduced -53.4k |
| FIRST TRUST ADVISORS LP 0.01% of their portfolio | 1.0m $9.7m | Added +617.8k |
| EMG Holdings, L.P. 11.87% of their portfolio | 980.0k $9.3m | Added +371.9k |
| WOLVERINE ASSET MANAGEMENT LLC 0.15% of their portfolio | 961.0k $9.1m | New |
| NORTHERN TRUST CORP 0.00% of their portfolio | 946.4k $9.0m | Reduced -35.3k |
| VAN ECK ASSOCIATES CORP 0.01% of their portfolio | 846.6k $8.0m | Reduced -19.7k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 784.9k $7.4m | Added +93.5k |
| Allianz Asset Management GmbH 0.01% of their portfolio | 778.9k $7.4m | Reduced -51.9k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 706.5k $6.7m | Added +618.6k |
| LSV ASSET MANAGEMENT 0.01% of their portfolio | 608.1k $5.8m | Added +32.1k |
| UBS Group AG 0.00% of their portfolio | 581.3k $5.5m | Added +102.7k |
| MORGAN STANLEY 0.00% of their portfolio | 554.3k $5.2m | Reduced -6.5k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 535.4k $5.1m | Added +27.8k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 532.2k $5.0m | Reduced -77.5k |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 525.1k $5.0m | New |
| VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio | 500.4k $4.7m | Added +488.2k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 430.2k $4.1m | Reduced -9.8k |
| VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 401.7k $3.8m | Reduced -124.0k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 390.6k $3.7m | Added +318.3k |
| TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio | 366.9k $3.5m | Reduced -60.5k |
| LPL Financial LLC 0.00% of their portfolio | 351.7k $3.3m | Added +53.8k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 304.3k $2.9m | Reduced -47.2k |
| DARK FOREST CAPITAL MANAGEMENT LP 0.11% of their portfolio | 292.0k $2.8m | Added +220.6k |
| GraniteShares Advisors LLC 1.61% of their portfolio | 276.7k $2.6m | Added +17.3k |
| Nuveen, LLC 0.00% of their portfolio | 264.3k $2.5m | Reduced -46.0k |
| CITIGROUP INC 0.00% of their portfolio | 249.1k $2.4m | Reduced -222.2k |
| GRATIA CAPITAL, LLC 2.32% of their portfolio | 225.5k $2.1m | Unchanged |
| Cubist Systematic Strategies, LLC 0.02% of their portfolio | 214.6k $2.0m | New |
| Corient Private Wealth LP 0.00% of their portfolio | 204.0k $1.9m | Added +103.4k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 199.2k $1.9m | Added +101.1k |
| Swiss National Bank 0.00% of their portfolio | 195.8k $1.9m | Reduced -2.0k |
| Independent Advisor Alliance 0.05% of their portfolio | 194.0k $1.8m | Added +5.5k |
| BARCLAYS PLC 0.00% of their portfolio | 192.6k $1.8m | Added +11.5k |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 185.9k $1.8m | Reduced -153.9k |
| TWO SIGMA ADVISERS, LP 0.00% of their portfolio | 185.5k $1.8m | Added +21.0k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 167.5k $1.6m | Added +11.8k |
| CAXTON ASSOCIATES LLP 0.04% of their portfolio | 167.3k $1.6m | Unchanged |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 166.9k $1.6m | Added +71.6k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 159.3k $1.5m | Reduced -7.0k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 149.2k $1.4m | Added +123.9k |
| Delphi Financial Group, Inc. 0.96% of their portfolio | 144.0k $1.4m | Added +50.0k |
| AXS Investments LLC 0.55% of their portfolio | 142.5k $1.3m | Reduced -7.4k |
| Legal & General Group Plc 0.00% of their portfolio | 141.4k $1.3m | Added +11.9k |
| Penserra Capital Management LLC 0.02% of their portfolio | 132.8k $1.3m | Added +8.8k |
| STIFEL FINANCIAL CORP 0.00% of their portfolio | 120.5k $1.1m | Added +54.4k |
| BlueCrest Capital Management Ltd 0.12% of their portfolio | 117.8k $1.1m | Reduced -49.3k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 114.3k $1.1m | Added +5.7k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 111.8k $1.1m | Added +16.2k |
| VIRGINIA RETIREMENT SYSTEMS ET Al 0.01% of their portfolio | 106.0k $1.0m | Reduced -12.7k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 104.5k $989.0k | Added +6.0k |
| America First Investment Advisors, LLC 0.19% of their portfolio | 103.2k $976.5k | Unchanged |
| GROUP ONE TRADING LLC 0.03% of their portfolio | 101.6k $961.3k | Added +61.9k |
| CWM, LLC 0.00% of their portfolio | 96.8k $915.0k | Added +94.1k |
| Caption Management, LLC 0.08% of their portfolio | 95.3k $901.3k | Reduced -9.7k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 94.3k $892.2k | Reduced -1.1k |
| SEI INVESTMENTS CO 0.00% of their portfolio | 84.0k $794.3k | Reduced -115 |
| Almitas Capital LLC 0.18% of their portfolio | 77.4k $732.6k | Unchanged |
| NORGES BANK 0.00% of their portfolio | 75.7k $716.5k | Reduced -184.3k |
| BAILARD, INC. 0.02% of their portfolio | 71.7k $678.6k | Added +28.5k |
| Curi Capital, LLC 0.01% of their portfolio | 69.0k $652.4k | Unchanged |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 68.9k $652.3k | Reduced -6.6k |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 62.1k $587.4k | Added +3.1k |
| Allspring Global Investments Holdings, LLC 0.00% of their portfolio | 61.6k $587.0k | New |
| MetLife Investment Management, LLC 0.00% of their portfolio | 61.0k $577.0k | Added +4.4k |
| Cannell & Spears LLC 0.01% of their portfolio | 57.7k $545.8k | Unchanged |
| INTECH INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 54.7k $517.6k | Reduced -31.1k |
| Williams Jones Wealth Management, LLC. 0.01% of their portfolio | 50.7k $479.3k | Reduced -5.0k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 50.4k $476.8k | Reduced -1.2k |
| NISA INVESTMENT ADVISORS, LLC 0.00% of their portfolio | 49.4k $486.7k | Reduced -270 |
| Centiva Capital, LP 0.03% of their portfolio | 49.3k $466.6k | Added +2.3k |
| Composition Wealth, LLC 0.01% of their portfolio | 47.8k $452.0k | Unchanged |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.00% of their portfolio | 45.8k $433.1k | Unchanged |
| Capital Square, LLC 0.22% of their portfolio | 44.2k $413.7k | Added +725 |
| JANUS HENDERSON GROUP PLC 0.00% of their portfolio | 42.3k $399.9k | Unchanged |
| PRUDENTIAL FINANCIAL INC 0.00% of their portfolio | 42.0k $396.9k | Reduced -22.3k |
| Inspire Investing, LLC 0.04% of their portfolio | 41.5k $392.2k | Added +8.0k |
| Dynamic Technology Lab Private Ltd 0.05% of their portfolio | 41.1k $388.0k | New |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 40.5k $383.6k | Added +4.5k |
| Nebula Research & Development LLC 0.03% of their portfolio | 39.2k $371.1k | Reduced -10.1k |
| MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio | 37.7k $356.4k | Added +2.2k |
| Advisors Asset Management, Inc. 0.01% of their portfolio | 36.4k $344.1k | New |
| Gotham Asset Management, LLC 0.00% of their portfolio | 35.4k $335.3k | Added +10.0k |
| QRG CAPITAL MANAGEMENT, INC. 0.00% of their portfolio | 34.2k $323.3k | Reduced -1.6k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 33.6k $318.2k | Unchanged |
| EntryPoint Capital, LLC 0.15% of their portfolio | 32.5k $307.7k | Added +18.5k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.00% of their portfolio | 30.1k $285.0k | New |
| ARIZONA STATE RETIREMENT SYSTEM 0.00% of their portfolio | 29.9k $283.1k | Added +639 |
| FOX RUN MANAGEMENT, L.L.C. 0.05% of their portfolio | 29.1k $274.9k | New |
| AlphaQuest LLC 0.03% of their portfolio | 28.8k $272.3k | Added +27.6k |
| SIMPLEX TRADING, LLC 0.01% of their portfolio | 28.7k $271.0k | Added +28.2k |
| TEACHER RETIREMENT SYSTEM OF TEXAS 0.00% of their portfolio | 28.5k $269.9k | Reduced -11.1k |