Vault-13

REDWOOD TRUST INC RWT 4.75 08.15.23

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

38 institutional holders -1 vs Q1 2023
9,877,0709.9m shares reported held*
$50.8mreported value*
5 new 6 added 2 reduced 7 sold out net sold ≈ $55.6m (-1.7m 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 ≈ $5.14.

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 48Q4 22: 45Q1 23: 39Q2 23: 3838Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 202248
Q4 202245
Q1 202339
Q2 202338

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 23Q2 23: 11 bought or addedQ2 23: 9 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022912
Q1 2023716
Q2 2023119

Biggest buyers

CLOUGH CAPITAL PARTNERS L P New +1,700,000+1.7m
PIPER SANDLER & CO. Added +1,663,000+1.7m
ROYAL BANK OF CANADA New +50,000+50.0k
BEACON INVESTMENT ADVISORS LLC Added +31,000+31.0k
RAYMOND JAMES & ASSOCIATES Added +25,000+25.0k
Independent Wealth Network Inc. New +18,000+18.0k
UMB Bank, n.a. Added +16,000+16.0k
Raymond James Financial Services Advisors, Inc. Added +12,000+12.0k
Gladstone Institutional Advisory LLC New +10,000+10.0k
K2 PRINCIPAL FUND, L.P. New +5,000+5.0k

Biggest sellers

LAZARD ASSET MANAGEMENT LLC Sold out -39,140,000-39.1m
BNP PARIBAS FINANCIAL MARKETS Sold out -13,372,000-13.4m
Aequim Alternative Investments LP Sold out -5,080,000-5.1m
CLOUGH CAPITAL PARTNERS L P Sold out -1,700,000-1.7m
BlackRock Inc. Sold out -250,000-250.0k
PRIVATE MANAGEMENT GROUP INC Reduced -31,000-31.0k
Baker Ellis Asset Management LLC Sold out -17,000-17.0k
Advisory Services Network, LLC Sold out -10,000-10.0k
MORGAN STANLEY Reduced -1,000-1.0k

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 PRIVATE MANAGEMENT GROUP INC 0.39% of their portfolio IRVINE, CA 9,045,0009.0m $9.1m $9.1m 0.39% Reduced -31.0k -31,000
2 AVIVA PLC 0.03% of their portfolio LONDON, X0 8,500,0008.5m $8.4m $8.4m 0.03% Unchanged
3 PIPER SANDLER & CO. 7.04% of their portfolio MINNEAPOLIS, MN 6,666,0006.7m $6.6m $6.6m 7.04% Added +1.7m +1,663,000
4 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 5,715,0005.7m $5.7m $5.7m 0.00% Unchanged
5 CNO Financial Group, Inc. 17.33% of their portfolio Carmel, IN 5,000,0005.0m $4.9m $4.9m 17.33% Unchanged
6 EUBEL BRADY & SUTTMAN ASSET MANAGEMENT INC 0.64% of their portfolio Miamisburg, OH 4,700,0004.7m $4.6m $4.6m 0.64% Unchanged
7 CLOUGH CAPITAL PARTNERS L P 0.17% of their portfolio Boston, MA 1,700,0001.7m $1.7m $1.7m 0.17% New
8 SSI INVESTMENT MANAGEMENT LLC 0.07% of their portfolio Los Angeles, CA 1,000,0001.0m $988.8k $988.8k 0.07% Unchanged
9 WEITZ INVESTMENT MANAGEMENT, INC. 0.05% of their portfolio Omaha, NE 850,000850.0k $849.0k $849.0k 0.05% Unchanged
10 BEACON INVESTMENT ADVISORS LLC 0.40% of their portfolio Gaithersburg, MD 585,000585.0k $578.4k $578.4k 0.40% Added +31.0k +31,000
11 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 572,000572.0k $571.3k $571.3k 0.00% Unchanged
12 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 291,000291.0k $293.0k $293.0k 0.00% Unchanged
13 Waterfront Wealth Inc. 0.06% of their portfolio OVERLAND PARK, KS 198,000198.0k $195.0k $195.0k 0.06% Unchanged
14 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 177,000177.0k $176.8k $176.8k 0.00% Added +2.0k +2,000
15 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 169,000169.0k $167.1k $167.1k 0.00% First filing
16 Seelaus Asset Management LLC 0.13% of their portfolio CHATHAM, NJ 160,000160.0k $159.0k $159.0k 0.13% Unchanged
17 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 130,000130.0k $129.8k $129.8k 0.00% Unchanged
18 Raymond James Financial Services Advisors, Inc. 0.00% of their portfolio ST. PETERSBURG, FL 87,00087.0k $86.0k $86.0k 0.00% Added +12.0k +12,000
19 UMB Bank, n.a. 0.00% of their portfolio Kansas City, MO 86,00086.0k $85.0k $85.0k 0.00% Added +16.0k +16,000
20 RAYMOND JAMES & ASSOCIATES 0.00% of their portfolio ST PETERSBURG, FL 65,00065.0k $64.3k $64.3k 0.00% Added +25.0k +25,000
21 LEVEL FOUR ADVISORY SERVICES, LLC 0.00% of their portfolio DALLAS, TX 54,00054.0k $53.4k $53.4k 0.00% Unchanged
22 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 50,00050.0k $50.0k $50.0k 0.00% New
23 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 39,00039.0k $38.7k $38.7k 0.00% Unchanged
24 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 37,00037.0k $36.7k $36.7k 0.00% Reduced -1.0k -1,000
25 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 35,00035.0k $34.6k $34.6k 0.00% Unchanged
26 Lebenthal Global Advisors, LLC 0.01% of their portfolio Hauppauge, NY 30,00030.0k $29.7k $29.7k 0.01% Unchanged
27 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 25,00025.0k $24.7k $24.7k 0.00% Unchanged
28 Independent Wealth Network Inc. 0.01% of their portfolio URBANDALE, IA 18,00018.0k $17.8k $17.8k 0.01% New
29 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 10,00010.0k $10.0k $10.0k 0.00% Unchanged
30 Gladstone Institutional Advisory LLC 0.00% of their portfolio Bedminster, NJ 10,00010.0k $9.9k $9.9k 0.00% New
31 GREAT VALLEY ADVISOR GROUP, INC. 0.00% of their portfolio WILMINGTON, DE 10,00010.0k $10.0k $10.0k 0.00% Unchanged
32 K2 PRINCIPAL FUND, L.P. 1.59% of their portfolio TORONTO, A6 5,0005.0k $5.0m $5.0m 1.59% New
33 HM PAYSON & CO 0.00% of their portfolio PORTLAND, ME 3,0003.0k $3.0k $3.0k 0.00% Unchanged
34 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 2,0002.0k $2.0k $2.0k 0.00% Unchanged
35 North Star Investment Management Corp. 0.00% of their portfolio CHICAGO, IL 1,0001.0k $992 $992 0.00% Unchanged
36 Artemis Wealth Advisors, LLC 0.00% of their portfolio Port Washington, NY 1,0001.0k $992 $992 0.00% Unchanged
37 Spire Wealth Management 0.00% of their portfolio MCLEAN, VA 7070 $6.9k $6.9k 0.00% Unchanged
38 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged