Vault-13

PENNYMAC CORP PMT 5.5 03.15.26

NOTE 5.500% 3/1 · US DOMESTIC · CUSIP 70932AAF0

46 institutional holders +1 vs Q1 2025
35,706,00035.7m shares reported held*
$360.7mreported value*
10 new 9 added 6 reduced 8 sold out net bought ≈ $102.1m (+12.2m 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 ($1.9m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $10.15.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 26Q4 22: 29Q1 23: 30Q2 23: 30Q3 23: 31Q4 23: 28Q1 24: 30Q2 24: 31Q3 24: 33Q4 24: 35Q1 25: 45Q2 25: 4646Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202226
Q4 202229
Q1 202330
Q2 202330
Q3 202331
Q4 202328
Q1 202430
Q2 202431
Q3 202433
Q4 202435
Q1 202545
Q2 202546

Buyers vs sellers

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

Bought or addedCut or sold out
20020Q3 23: 11 bought or addedQ3 23: 6 cut or sold outQ4 23: 5 bought or addedQ4 23: 10 cut or sold outQ4 23Q1 24: 7 bought or addedQ1 24: 8 cut or sold outQ2 24: 9 bought or addedQ2 24: 9 cut or sold outQ2 24Q3 24: 7 bought or addedQ3 24: 13 cut or sold outQ4 24: 12 bought or addedQ4 24: 9 cut or sold outQ4 24Q1 25: 18 bought or addedQ1 25: 7 cut or sold outQ2 25: 19 bought or addedQ2 25: 14 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023116
Q4 2023510
Q1 202478
Q2 202499
Q3 2024713
Q4 2024129
Q1 2025187
Q2 20251914

Biggest buyers

ROYAL BANK OF CANADA Added +94,916,000+94.9m
CORBYN INVESTMENT MANAGEMENT INC/MD Added +10,109,000+10.1m
Fort Baker Capital Management LP New +9,377,000+9.4m
Shaolin Capital Management LLC Added +7,598,000+7.6m
PIPER SANDLER & CO. Added +3,938,000+3.9m
Parallax Volatility Advisers, L.P. Added +2,000,000+2.0m
VICTORY CAPITAL MANAGEMENT INC New +1,672,000+1.7m
HB Wealth Management, LLC New +1,475,000+1.5m
WESTWOOD HOLDINGS GROUP INC New +1,000,000+1.0m
FINANCIAL CONSULATE, INC New +961,000+961.0k

Biggest sellers

LORD, ABBETT & CO. LLC Sold out -10,400,000-10.4m
Fort Baker Capital Management LP Sold out -9,377,000-9.4m
Amundi Sold out -6,567,000-6.6m
Western Asset Management Company, LLC Sold out -1,930,000-1.9m
OAKTREE CAPITAL MANAGEMENT LP Reduced -1,178,000-1.2m
Russell Investments Group, Ltd. Reduced -740,000-740.0k
WELLS FARGO & COMPANY/MN Reduced -418,000-418.0k
Bank of New York Mellon Corp Sold out -200,000-200.0k
BARCLAYS PLC Reduced -197,000-197.0k
BlackRock, Inc. Reduced -125,000-125.0k

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 102,006,000102.0m $101.6m $101.6m 0.01% Added +94.9m +94,916,000
2 Allianz Asset Management GmbH 0.07% of their portfolio MUNICH, 2M 50,000,00050.0m $49.7m $49.7m 0.07% Unchanged
3 Shaolin Capital Management LLC 2.20% of their portfolio Miami, FL 50,000,00050.0m $50.6m $50.6m 2.20% Added +7.6m +7,598,000
4 HBK INVESTMENTS L P 0.39% of their portfolio DALLAS, TX 21,840,00021.8m $21.8m $21.8m 0.39% Unchanged
5 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 21,500,00021.5m $21.3m $21.3m 0.01% Unchanged
6 MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 20,000,00020.0m $19.8m $19.8m 0.02% Unchanged
7 Parallax Volatility Advisers, L.P. 0.48% of their portfolio San Francisco, CA 12,000,00012.0m $11.9m $11.9m 0.48% Added +2.0m +2,000,000
8 CORBYN INVESTMENT MANAGEMENT INC/MD 3.47% of their portfolio Lutherville, MD 10,452,00010.5m $10.3m $10.3m 3.47% Added +10.1m +10,109,000
9 Fort Baker Capital Management LP 1.66% of their portfolio Larkspur, CA 9,377,0009.4m $9.5m $9.5m 1.66% New
10 WOLVERINE ASSET MANAGEMENT LLC 0.15% of their portfolio CHICAGO, IL 9,000,0009.0m $9.0m $9.0m 0.15% Unchanged
11 INTREPID CAPITAL MANAGEMENT INC 2.85% of their portfolio JACKSONVILLE BEACH, FL 7,110,0007.1m $7.0m $7.0m 2.85% Unchanged
12 SSI INVESTMENT MANAGEMENT LLC 0.40% of their portfolio Los Angeles, CA 5,712,0005.7m $5.6m $5.6m 0.40% Unchanged
13 OAKTREE CAPITAL MANAGEMENT LP 0.11% of their portfolio LOS ANGELES, CA 5,411,0005.4m $5.4m $5.4m 0.11% Reduced -1.2m -1,178,000
14 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 4,759,0004.8m $4.7m $4.7m 0.00% Unchanged
15 Russell Investments Group, Ltd. 0.01% of their portfolio Seattle, WA 4,237,0004.2m $4.3m $4.3m 0.01% Reduced -740.0k -740,000
16 PIPER SANDLER & CO. 3.16% of their portfolio MINNEAPOLIS, MN 4,111,0004.1m $4.1m $4.1m 3.16% Added +3.9m +3,938,000
17 BlackRock, Inc. 0.00% of their portfolio New York, NY 3,510,0003.5m $3.5m $3.5m 0.00% Reduced -125.0k -125,000
18 Catalyst Capital Advisors LLC 0.06% of their portfolio San Juan, PR 3,203,0003.2m $3.2m $3.2m 0.06% Added +503.0k +503,000
19 ADVENT CAPITAL MANAGEMENT /DE/ 0.07% of their portfolio NEW YORK, NY 3,058,0003.1m $3.0m $3.0m 0.07% Added +124.0k +124,000
20 VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio San Antonio, TX 1,672,0001.7m $1.7m $1.7m 0.00% New
21 SCHRODER INVESTMENT MANAGEMENT GROUP 0.00% of their portfolio London, X0 1,650,0001.6m $1.6m $1.6m 0.00% Unchanged
22 HB Wealth Management, LLC 0.01% of their portfolio Atlanta, GA 1,475,0001.5m $1.5m $1.5m 0.01% New
23 AXA S.A. 0.00% of their portfolio PARIS, I0 1,000,0001.0m $996.2k $996.2k 0.00% Unchanged
24 WESTWOOD HOLDINGS GROUP INC 0.01% of their portfolio DALLAS, TX 1,000,0001.0m $1.0m $1.0m 0.01% New
25 EMG Holdings, L.P. 1.27% of their portfolio OLD GREENWICH, CT 1,000,0001.0m $992.6k $992.6k 1.27% Unchanged
26 FINANCIAL CONSULATE, INC 0.19% of their portfolio HUNT VALLEY, MD 961,000961.0k $965.9k $965.9k 0.19% New
27 ZAZOVE ASSOCIATES LLC 0.03% of their portfolio INCLINE VILLAGE, NV 382,000382.0k $380.6k $380.6k 0.03% Unchanged
28 Huntleigh Advisors, Inc. 0.06% of their portfolio ST. LOUIS, MO 330,000330.0k $326.2k $326.2k 0.06% Added +100.0k +100,000
29 Left Brain Wealth Management, LLC 0.08% of their portfolio NAPERVILLE, IL 235,000235.0k $236.2k $236.2k 0.08% Unchanged
30 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 125,000125.0k $124.4k $124.4k 0.00% New
31 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 102,000102.0k $101.4k $101.4k 0.00% Reduced -197.0k -197,000
32 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 100,000100.0k $98.8k $98.8k 0.00% Unchanged
33 Wealthspire Advisors, LLC 0.00% of their portfolio NEW YORK, NY 92,00092.0k $92.1k $92.1k 0.00% New
34 SteelPeak Wealth, LLC 0.00% of their portfolio WOODLAND HILLS, CA 75,00075.0k $75.4k $75.4k 0.00% Unchanged
35 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 50,00050.0k $49.4k $49.4k 0.00% Unchanged
36 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 45,00045.0k $44.5k $44.5k 0.00% Unchanged
37 HANCOCK WHITNEY CORP 0.00% of their portfolio GULFPORT, MS 30,00030.0k $29.7k $29.7k 0.00% New
38 Dakota Wealth Management 0.00% of their portfolio PALM BEACH GARDENS, FL 25,00025.0k $25.1k $25.1k 0.00% New
39 ANDERSON HOAGLAND & CO 0.00% of their portfolio ST LOUIS, MO 23,00023.0k $22.7k $22.7k 0.00% New
40 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 11,00011.0k $10.9k $10.9k 0.00% Added +6.0k +6,000
41 INSIGNEO ADVISORY SERVICES, LLC 0.00% of their portfolio MIAMI, FL 11,00011.0k $10.9k $10.9k 0.00% Unchanged
42 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 7,0007.0k $7.0k $7.0k 0.00% Reduced -418.0k -418,000
43 Context Capital Management, LLC 0.20% of their portfolio LAJOLLA, CA 6,0126.0k $6.0m $6.0m 0.20% Unchanged
44 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 6,0006.0k $5.9k $5.9k 0.00% Unchanged
45 MONETA GROUP INVESTMENT ADVISORS LLC 0.00% of their portfolio ST LOUIS, MO 248248 $24.7k $24.7k 0.00% Reduced -1 -1
46 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged