Vault-13

PENNYMAC CORP PMT 5.5 03.15.26

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

45 institutional holders -2 vs Q3 2025
26,876,00026.9m shares reported held*
$253.9mreported value*
3 new 10 added 9 reduced 4 sold out net sold ≈ $60.4m (-8.4m 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 ($2.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $9.55.

Trends to Q4 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: 46Q3 25: 47Q4 25: 4545Q3 22Q2 23Q1 24Q4 24Q4 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
Q3 202547
Q4 202545

Buyers vs sellers

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

Bought or addedCut or sold out
20020Q1 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 25Q3 25: 13 bought or addedQ3 25: 9 cut or sold outQ4 25: 13 bought or addedQ4 25: 13 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 202478
Q2 202499
Q3 2024713
Q4 2024129
Q1 2025187
Q2 20251914
Q3 2025139
Q4 20251313

Biggest buyers

Fort Baker Capital Management LP New +9,377,000+9.4m
OAKTREE CAPITAL MANAGEMENT LP Added +5,524,000+5.5m
PIPER SANDLER & CO. Added +3,188,000+3.2m
Parallax Volatility Advisers, L.P. Added +1,222,000+1.2m
BNP PARIBAS ASSET MANAGEMENT Holding S.A. New +1,000,000+1.0m
Russell Investments Group, Ltd. Added +595,000+595.0k
BlackRock, Inc. Added +125,000+125.0k
RAYMOND JAMES FINANCIAL INC Added +46,000+46.0k
Wealthspire Advisors, LLC Added +42,000+42.0k
STIFEL FINANCIAL CORP Added +35,930+35.9k

Biggest sellers

ROYAL BANK OF CANADA Reduced -49,850,000-49.9m
Shaolin Capital Management LLC Reduced -10,760,000-10.8m
Fort Baker Capital Management LP Sold out -9,377,000-9.4m
VICTORY CAPITAL MANAGEMENT INC Reduced -4,894,996-4.9m
JPMORGAN CHASE & CO Reduced -4,759,000-4.8m
ADVENT CAPITAL MANAGEMENT /DE/ Reduced -1,218,000-1.2m
CORBYN INVESTMENT MANAGEMENT INC/MD Reduced -419,000-419.0k
JANE STREET GROUP, LLC Sold out -125,000-125.0k
SteelPeak Wealth, LLC Sold out -75,000-75.0k
HB Wealth Management, LLC Reduced -44,000-44.0k

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Allianz Asset Management GmbH 0.06% of their portfolio MUNICH, 2M 50,000,00050.0m $50.1m $50.1m 0.06% Unchanged
2 Shaolin Capital Management LLC 1.26% of their portfolio Miami, FL 33,240,00033.2m $33.3m $33.3m 1.26% Reduced -10.8m -10,760,000
3 HBK INVESTMENTS L P 0.24% of their portfolio DALLAS, TX 21,840,00021.8m $21.8m $21.8m 0.24% Unchanged
4 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 21,500,00021.5m $21.4m $21.4m 0.00% Unchanged
5 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 20,000,00020.0m $20.0m $20.0m 0.01% Unchanged
6 Parallax Volatility Advisers, L.P. 0.56% of their portfolio San Francisco, CA 18,000,00018.0m $17.9m $17.9m 0.56% Added +1.2m +1,222,000
7 CORBYN INVESTMENT MANAGEMENT INC/MD 3.55% of their portfolio Lutherville, MD 12,189,00012.2m $12.1m $12.1m 3.55% Reduced -419.0k -419,000
8 OAKTREE CAPITAL MANAGEMENT LP 0.18% of their portfolio LOS ANGELES, CA 10,935,00010.9m $11.0m $11.0m 0.18% Added +5.5m +5,524,000
9 PIPER SANDLER & CO. 6.69% of their portfolio MINNEAPOLIS, MN 9,541,0009.5m $9.4m $9.4m 6.69% Added +3.2m +3,188,000
10 Fort Baker Capital Management LP 1.06% of their portfolio Larkspur, CA 9,377,0009.4m $9.5m $9.5m 1.06% New
11 WOLVERINE ASSET MANAGEMENT LLC 0.13% of their portfolio CHICAGO, IL 9,000,0009.0m $9.0m $9.0m 0.13% Unchanged
12 INTREPID CAPITAL MANAGEMENT INC 2.75% of their portfolio JACKSONVILLE BEACH, FL 7,110,0007.1m $7.1m $7.1m 2.75% Unchanged
13 SSI INVESTMENT MANAGEMENT LLC 0.35% of their portfolio Los Angeles, CA 5,212,0005.2m $5.2m $5.2m 0.35% Unchanged
14 Russell Investments Group, Ltd. 0.01% of their portfolio Seattle, WA 4,832,0004.8m $4.9m $4.9m 0.01% Added +595.0k +595,000
15 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 4,759,0004.8m $4.8m $4.8m 0.00% Reduced -4.8m -4,759,000
16 Catalyst Capital Advisors LLC 0.09% of their portfolio San Juan, PR 4,203,0004.2m $4.2m $4.2m 0.09% Unchanged
17 BlackRock, Inc. 0.00% of their portfolio New York, NY 3,635,0003.6m $3.6m $3.6m 0.00% Added +125.0k +125,000
18 ADVENT CAPITAL MANAGEMENT /DE/ 0.04% of their portfolio NEW YORK, NY 1,830,0001.8m $1.9m $1.9m 0.04% Reduced -1.2m -1,218,000
19 SCHRODER INVESTMENT MANAGEMENT GROUP 0.00% of their portfolio London, X0 1,650,0001.6m $1.6m $1.6m 0.00% Unchanged
20 HB Wealth Management, LLC 0.01% of their portfolio Atlanta, GA 1,444,0001.4m $1.5m $1.5m 0.01% Reduced -44.0k -44,000
21 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 1,200,0001.2m $1.2m $1.2m 0.00% Reduced -49.9m -49,850,000
22 EMG Holdings, L.P. 1.60% of their portfolio OLD GREENWICH, CT 1,000,0001.0m $1.0m $1.0m 1.60% Unchanged
23 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.00% of their portfolio Paris, I0 1,000,0001.0m $1.0m $1.0m 0.00% New
24 FINANCIAL CONSULATE, INC 0.13% of their portfolio HUNT VALLEY, MD 932,000932.0k $954.6k $954.6k 0.13% Reduced -29.0k -29,000
25 WESTWOOD HOLDINGS GROUP INC 0.00% of their portfolio DALLAS, TX 500,000500.0k $500.0k $500.0k 0.00% Unchanged
26 ZAZOVE ASSOCIATES LLC 0.03% of their portfolio INCLINE VILLAGE, NV 382,000382.0k $382.0k $382.0k 0.03% Unchanged
27 Huntleigh Advisors, Inc. 0.06% of their portfolio ST. LOUIS, MO 330,000330.0k $328.8k $328.8k 0.06% Unchanged
28 Left Brain Wealth Management, LLC 0.08% of their portfolio NAPERVILLE, IL 235,000235.0k $240.7k $240.7k 0.08% Unchanged
29 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 146,000146.0k $145.5k $145.5k 0.00% Added +46.0k +46,000
30 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 110,000110.0k $109.7k $109.7k 0.00% Added +8.0k +8,000
31 Wealthspire Advisors, LLC 0.00% of their portfolio NEW YORK, NY 66,00066.0k $67.6k $67.6k 0.00% Added +42.0k +42,000
32 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 51,81851.8k $51.8k $51.8k 0.00% Added +35.9k +35,930
33 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 50,00050.0k $49.8k $49.8k 0.00% Unchanged
34 Acropolis Investment Management, LLC 0.00% of their portfolio ST. LOUIS, MO 50,00050.0k $51.2k $51.2k 0.00% Unchanged
35 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 45,00045.0k $44.8k $44.8k 0.00% Unchanged
36 HANCOCK WHITNEY CORP 0.00% of their portfolio GULFPORT, MS 30,00030.0k $29.9k $29.9k 0.00% Unchanged
37 Dakota Wealth Management 0.00% of their portfolio PALM BEACH GARDENS, FL 25,00025.0k $25.3k $25.3k 0.00% Unchanged
38 ANDERSON HOAGLAND & CO 0.00% of their portfolio ST LOUIS, MO 23,00023.0k $23.2k $23.2k 0.00% Unchanged
39 180 WEALTH ADVISORS, LLC 0.00% of their portfolio FEDERAL WAY, WA 13,00013.0k $13.0k $13.0k 0.00% Unchanged
40 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 11,00011.0k $11.0k $11.0k 0.00% Unchanged
41 INSIGNEO ADVISORY SERVICES, LLC 0.00% of their portfolio MIAMI, FL 11,00011.0k $11.1k $11.1k 0.00% Unchanged
42 TRED AVON FAMILY WEALTH, LLC 0.00% of their portfolio EASTON, MD 10,00010.0k $10.2k $10.2k 0.00% New
43 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 4,0004.0k $4.0k $4.0k 0.00% Reduced -20.0k -20,000
44 MONETA GROUP INVESTMENT ADVISORS LLC 0.00% of their portfolio ST LOUIS, MO 2,0082.0k $25.2k $25.2k 0.00% Added +1.8k +1,759
45 VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio San Antonio, TX 44 $55 $55 0.00% Reduced -4.9m -4,894,996