Vault-13

REDWOOD TRUST INC RWT 4.75 08.15.23

NOTE 4.750% 8/1 · US DOMESTIC · CUSIP 758075AC9

39 institutional holders -6 vs Q4 2022
11,418,07011.4m shares reported held*
$100.1mreported value*
3 new 4 added 7 reduced 9 sold out net sold ≈ $38.7m (-7.5m 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. Holder counts are more reliable. Implied quarter-end price ≈ $8.77.

Trends to Q1 2023

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 48Q4 22: 45Q1 23: 3939Q3 22Q4 22Q1 23
Numbers
QuarterHolders
Q3 202248
Q4 202245
Q1 202339

Buyers vs sellers

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

Bought or addedCut or sold out
20020Q4 22: 9 bought or addedQ4 22: 12 cut or sold outQ4 22Q1 23: 7 bought or addedQ1 23: 16 cut or sold outQ1 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022912
Q1 2023716

Biggest buyers

Aequim Alternative Investments LP New +5,080,000+5.1m
PIPER SANDLER & CO. Added +4,903,000+4.9m
CLOUGH CAPITAL PARTNERS L P New +1,700,000+1.7m
BEACON INVESTMENT ADVISORS LLC New +554,000+554.0k
Raymond James Financial Services Advisors, Inc. Added +25,000+25.0k
MORGAN STANLEY Added +22,000+22.0k
Spire Wealth Management Added +10+10

Biggest sellers

ADVENT CAPITAL MANAGEMENT /DE/ Sold out -25,162,000-25.2m
WEITZ INVESTMENT MANAGEMENT, INC. Reduced -5,006,000-5.0m
Aequim Alternative Investments LP Sold out -5,000,000-5.0m
NEW YORK STATE COMMON RETIREMENT FUND Sold out -4,772,000-4.8m
LAZARD ASSET MANAGEMENT LLC Reduced -3,000,000-3.0m
Seelaus Asset Management LLC Reduced -2,694,000-2.7m
BNP PARIBAS FINANCIAL MARKETS Reduced -2,121,000-2.1m
CLOUGH CAPITAL PARTNERS L P Sold out -1,978,000-2.0m
ROYAL BANK OF CANADA Sold out -1,440,000-1.4m
BEACON INVESTMENT ADVISORS LLC Sold out -554,000-554.0k

Holders, Q1 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 LAZARD ASSET MANAGEMENT LLC 0.05% of their portfolio NEW YORK, NY 39,140,00039.1m $38.5m $38.5m 0.05% Reduced -3.0m -3,000,000
2 BNP PARIBAS FINANCIAL MARKETS 0.03% of their portfolio PARIS, I0 13,372,00013.4m $13.2m $13.2m 0.03% Reduced -2.1m -2,121,000
3 PRIVATE MANAGEMENT GROUP INC 0.40% of their portfolio IRVINE, CA 9,076,0009.1m $9.0m $9.0m 0.40% Reduced -22.0k -22,000
4 AVIVA PLC 0.04% of their portfolio LONDON, X0 8,500,0008.5m $8.3m $8.3m 0.04% Unchanged
5 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 5,715,0005.7m $5.7m $5.7m 0.00% Unchanged
6 Aequim Alternative Investments LP 0.16% of their portfolio MILL VALLEY, CA 5,080,0005.1m $5.0m $5.0m 0.16% New
7 PIPER SANDLER & CO. 3.40% of their portfolio MINNEAPOLIS, MN 5,003,0005.0m $4.9m $4.9m 3.40% Added +4.9m +4,903,000
8 CNO Financial Group, Inc. 13.52% of their portfolio Carmel, IN 5,000,0005.0m $4.9m $4.9m 13.52% Unchanged
9 EUBEL BRADY & SUTTMAN ASSET MANAGEMENT INC 0.66% of their portfolio Miamisburg, OH 4,700,0004.7m $4.6m $4.6m 0.66% Unchanged
10 CLOUGH CAPITAL PARTNERS L P 0.18% of their portfolio Boston, MA 1,700,0001.7m $1.7m $1.7m 0.18% New
11 SSI INVESTMENT MANAGEMENT LLC 0.07% of their portfolio Los Angeles, CA 1,000,0001.0m $982.5k $982.5k 0.07% Unchanged
12 WEITZ INVESTMENT MANAGEMENT, INC. 0.05% of their portfolio Omaha, NE 850,000850.0k $835.1k $835.1k 0.05% Reduced -5.0m -5,006,000
13 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 572,000572.0k $568.4k $568.4k 0.00% Unchanged
14 BEACON INVESTMENT ADVISORS LLC 0.39% of their portfolio Gaithersburg, MD 554,000554.0k $538.8k $538.8k 0.39% New
15 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 291,000291.0k $284.8k $284.8k 0.00% Unchanged
16 BlackRock Inc. 0.00% of their portfolio New York, NY 250,000250.0k $243.1k $243.1k 0.00% Unchanged
17 Waterfront Wealth Inc. 0.06% of their portfolio OVERLAND PARK, KS 198,000198.0k $192.6k $192.6k 0.06% Unchanged
18 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 175,000175.0k $174.1k $174.1k 0.00% Reduced -43.0k -43,000
19 Seelaus Asset Management LLC 0.12% of their portfolio CHATHAM, NJ 160,000160.0k $158.0k $158.0k 0.12% Reduced -2.7m -2,694,000
20 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 130,000130.0k $129.4k $129.4k 0.00% Unchanged
21 Raymond James Financial Services Advisors, Inc. 0.00% of their portfolio ST. PETERSBURG, FL 75,00075.0k $72.9k $72.9k 0.00% Added +25.0k +25,000
22 UMB Bank, n.a. 0.00% of their portfolio Kansas City, MO 70,00070.0k $68.1k $68.1k 0.00% Unchanged
23 LEVEL FOUR ADVISORY SERVICES, LLC 0.00% of their portfolio DALLAS, TX 54,00054.0k $52.5k $52.5k 0.00% Unchanged
24 RAYMOND JAMES & ASSOCIATES 0.00% of their portfolio ST PETERSBURG, FL 40,00040.0k $38.9k $38.9k 0.00% Unchanged
25 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 39,00039.0k $38.4k $38.4k 0.00% Reduced -1.0k -1,000
26 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 38,00038.0k $37.0k $37.0k 0.00% Added +22.0k +22,000
27 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 35,00035.0k $34.0k $34.0k 0.00% Unchanged
28 Lebenthal Global Advisors, LLC 0.01% of their portfolio Hauppauge, NY 30,00030.0k $29.2k $29.2k 0.01% Unchanged
29 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 25,00025.0k $24.3k $24.3k 0.00% Unchanged
30 Baker Ellis Asset Management LLC 0.00% of their portfolio Vancouver, WA 17,00017.0k $16.5k $16.5k 0.00% Unchanged
31 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 10,00010.0k $9.0k $9.0k 0.00% Unchanged
32 Advisory Services Network, LLC 0.00% of their portfolio ATLANTA, GA 10,00010.0k $9.7k $9.7k 0.00% Unchanged
33 GREAT VALLEY ADVISOR GROUP, INC. 0.00% of their portfolio WILMINGTON, DE 10,00010.0k $10.0k $10.0k 0.00% Unchanged
34 HM PAYSON & CO 0.00% of their portfolio PORTLAND, ME 3,0003.0k $2.9k $2.9k 0.00% Unchanged
35 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 2,0002.0k $1.9k $1.9k 0.00% Unchanged
36 North Star Investment Management Corp. 0.00% of their portfolio CHICAGO, IL 1,0001.0k $981 $981 0.00% Unchanged
37 Artemis Wealth Advisors, LLC 0.00% of their portfolio Port Washington, NY 1,0001.0k $980 $980 0.00% Unchanged
38 Spire Wealth Management 0.00% of their portfolio MCLEAN, VA 7070 $6.9k $6.9k 0.00% Added +10 +10
39 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged