STARWOOD PPTY TR INC STWD
COM · REIT · CUSIP 85571B105 · ISIN US85571B1052
Commercial mortgage REIT
- SectorReal estate
- IndustryReal Estate Investment Trusts
- HeadquartersMiami Beach, FL
- 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 ($9.7m this quarter). Holder counts are more reliable. Shares outstanding: 370.3m as of 2025-11-07, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $19.40. Options: 14 managers hold calls ($100.1m notional), 24 hold puts ($149.0m).
Trends to Q3 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 444 |
| Q4 2022 | 465 |
| Q1 2023 | 456 |
| Q2 2023 | 454 |
| Q3 2023 | 454 |
| Q4 2023 | 484 |
| Q1 2024 | 481 |
| Q2 2024 | 494 |
| Q3 2024 | 508 |
| Q4 2024 | 499 |
| Q1 2025 | 501 |
| Q2 2025 | 509 |
| Q3 2025 | 528 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2023 | 229 | 193 |
| Q1 2024 | 225 | 196 |
| Q2 2024 | 244 | 207 |
| Q3 2024 | 275 | 164 |
| Q4 2024 | 234 | 200 |
| Q1 2025 | 249 | 193 |
| Q2 2025 | 248 | 204 |
| Q3 2025 | 294 | 164 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2024 | $104.5m | $104.2m | 1.00 |
| Q1 2025 | $98.1m | $81.8m | 0.83 |
| Q2 2025 | $117.5m | $135.1m | 1.15 |
| Q3 2025 | $100.1m | $149.0m | 1.49 |
Biggest buyers
| JPMORGAN CHASE & CO | Added | +3.3m |
| VANGUARD GROUP INC | Added | +2.2m |
| BlackRock, Inc. | Added | +2.0m |
| TWO SIGMA INVESTMENTS, LP | Added | +1.5m |
| TUDOR INVESTMENT CORP ET AL | Added | +1.3m |
| MORGAN STANLEY | Added | +1.2m |
| MARSHALL WACE, LLP | New | +1.1m |
| SEVEN GRAND MANAGERS, LLC | New | +1.0m |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +706.8k |
| AMERIPRISE FINANCIAL INC | Added | +614.9k |
Biggest sellers
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Reduced | -1.4m |
| Rockefeller Capital Management L.P. | Reduced | -359.9k |
| CITADEL ADVISORS LLC | Reduced | -357.3k |
| ROYAL BANK OF CANADA | Reduced | -266.7k |
| Kestra Investment Management, LLC | Reduced | -134.4k |
| Blue Owl Capital Holdings LP | Sold out | -131.5k |
| STRS OHIO | Reduced | -125.5k |
| D. E. Shaw & Co., Inc. | Reduced | -118.3k |
| QRG CAPITAL MANAGEMENT, INC. | Reduced | -117.0k |
| SummitTX Capital, L.P. | Reduced | -102.2k |
Biggest calls
| Twin Tree Management, LP | Reduced | $31.2m1.6m shares |
| JANE STREET GROUP, LLC | Added | $15.4m794.7k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $11.8m611.2k shares |
| PEAK6 LLC | Reduced | $11.1m573.6k shares |
| GROUP ONE TRADING LLC | Reduced | $7.3m376.6k shares |
| SIMPLEX TRADING, LLC | Added | $5.4m277.2k shares |
| IMC-Chicago, LLC | Reduced | $4.4m226.9k shares |
| CITADEL ADVISORS LLC | Reduced | $4.1m212.1k shares |
| Walleye Trading LLC | Reduced | $3.1m158.5k shares |
| Centiva Capital, LP | Added | $2.8m144.5k shares |
Biggest puts
| TWO SIGMA INVESTMENTS, LP | Unchanged | $32.9m1.7m shares |
| Portman Square Capital LLP | Added | $22.1m1.1m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $20.5m1.1m shares |
| SIMPLEX TRADING, LLC | Added | $10.4m535.5k shares |
| PEAK6 LLC | Reduced | $9.7m503.0k shares |
| UBS Group AG | Reduced | $9.7m500.0k shares |
| CITADEL ADVISORS LLC | Added | $7.4m381.6k shares |
| Caption Management, LLC | Unchanged | $5.3m275.0k shares |
| IMC-Chicago, LLC | Added | $5.2m270.2k shares |
| GROUP ONE TRADING LLC | Added | $4.3m223.2k 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.
No one currently above 5% in the filings since 19 Dec 2024.
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27)
Insider purchases and sales in Q3 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.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2023 | 0 | — | 1 | $1.7m | $1.7m |
| Q1 2024 | 0 | — | 1 | $2.5m | $508.2k |
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 0 | — | — |
None reported in Q3 2025.
Holders, Q3 2025
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.01% of their portfolio | 34.8m $673.7m | Added +2.0m |
| VANGUARD GROUP INC 0.01% of their portfolio | 33.0m $638.8m | Added +2.2m |
| STATE STREET CORP 0.01% of their portfolio | 11.0m $218.5m | Added +537.5k |
| MORGAN STANLEY 0.01% of their portfolio | 7.8m $150.5m | Added +1.2m |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 7.0m $136.1m | Added +3.3m |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 6.3m $121.3m | Added +706.8k |
| AMERIPRISE FINANCIAL INC 0.03% of their portfolio | 5.8m $113.2m | Added +614.9k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 5.4m $104.4m | Added +64.2k |
| TWO SIGMA INVESTMENTS, LP 0.08% of their portfolio | 2.8m $53.5m | Added +1.5m |
| RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio | 2.7m $52.8m | Added +12.3k |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 2.7m $51.4m | Added +37.4k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 2.6m $50.1m | Added +74.6k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 2.4m $46.8m | Added +169.4k |
| HighTower Advisors, LLC 0.05% of their portfolio | 2.3m $45.4m | Added +177.3k |
| Nuveen, LLC 0.01% of their portfolio | 2.1m $40.2m | Added +150.1k |
| UBS Group AG 0.01% of their portfolio | 1.9m $36.4m | Added +85.1k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 1.5m $29.5m | Added +170.7k |
| Advisors Capital Management, LLC 0.35% of their portfolio | 1.4m $27.9m | Added +56.7k |
| Invesco Ltd. 0.00% of their portfolio | 1.4m $27.3m | Added +27.8k |
| TUDOR INVESTMENT CORP ET AL 0.17% of their portfolio | 1.4m $26.5m | Added +1.3m |
| Leeward Investments, LLC - MA 1.23% of their portfolio | 1.2m $24.1m | Reduced -34.9k |
| TWO SIGMA ADVISERS, LP 0.05% of their portfolio | 1.2m $23.0m | Added +328.9k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.04% of their portfolio | 1.2m $22.8m | Added +113.0k |
| NEUBERGER BERMAN GROUP LLC 0.02% of their portfolio | 1.1m $22.1m | Added +103.3k |
| Boston Partners 0.02% of their portfolio | 1.1m $22.1m | Added +38.4k |
| VAN ECK ASSOCIATES CORP 0.02% of their portfolio | 1.1m $22.0m | Reduced -8.4k |
| VALLEY WEALTH MANAGERS, INC. 1.41% of their portfolio | 1.1m $21.3m | Added +5.3k |
| HRT FINANCIAL LP 0.09% of their portfolio | 1.1m $20.8m | Added +361.5k |
| FRANKLIN RESOURCES INC 0.01% of their portfolio | 1.1m $20.6m | Reduced -13.1k |
| MARSHALL WACE, LLP 0.02% of their portfolio | 1.1m $20.5m | New |
| SEVEN GRAND MANAGERS, LLC 1.57% of their portfolio | 1.0m $19.4m | New |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 919.9k $17.8m | Added +48.7k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.03% of their portfolio | 900.0k $17.4m | Added +350.0k |
| 1832 Asset Management L.P. 0.03% of their portfolio | 878.7k $17.0m | Added +210.6k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 766.6k $14.8m | Added +35.6k |
| LPL Financial LLC 0.00% of their portfolio | 691.3k $13.4m | Added +155.5k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 690.0k $13.4m | Added +198.0k |
| California Public Employees Retirement System 0.01% of their portfolio | 665.1k $12.9m | Added +92.1k |
| Legal & General Group Plc 0.00% of their portfolio | 664.7k $12.9m | Reduced -5.2k |
| NFC Investments, LLC 3.72% of their portfolio | 663.6k $12.9m | Added +9.3k |
| BLAIR WILLIAM & CO/IL 0.03% of their portfolio | 647.0k $12.5m | Added +173.5k |
| Focus Partners Wealth 0.02% of their portfolio | 632.5k $12.3m | Reduced -24.9k |
| Swiss National Bank 0.01% of their portfolio | 629.4k $12.2m | Added +16.4k |
| Rockefeller Capital Management L.P. 0.02% of their portfolio | 623.2k $12.1m | Reduced -359.9k |
| Ensign Peak Advisors, Inc 0.02% of their portfolio | 608.5k $11.8m | Reduced -76.5k |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 603.5k $11.7m | Reduced -357.3k |
| Cetera Investment Advisers 0.01% of their portfolio | 595.2k $11.5m | Added +62.0k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 589.2k $11.4m | Added +96.5k |
| STIFEL FINANCIAL CORP 0.01% of their portfolio | 573.4k $11.1m | Added +53.4k |
| Seneca House Advisors 4.27% of their portfolio | 545.9k $10.6m | Added +11.8k |
| State of New Jersey Common Pension Fund D 0.04% of their portfolio | 515.5k $10.0m | Added +10.2k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 476.0k $9.2m | Added +31.1k |
| Columbus Macro, LLC 1.00% of their portfolio | 453.9k $8.8m | Added +51.9k |
| ZACKS INVESTMENT MANAGEMENT 0.07% of their portfolio | 438.3k $8.5m | New |
| RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio | 426.5k $8.3m | Reduced -6.1k |
| Retirement Systems of Alabama 0.03% of their portfolio | 417.3k $8.1m | Added +23.1k |
| EASTERLY INVESTMENT PARTNERS LLC 0.53% of their portfolio | 405.0k $7.8m | New |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.01% of their portfolio | 387.4k $7.3m | Added +29.0k |
| VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio | 369.4k $7.2m | Added +309.6k |
| BARCLAYS PLC 0.00% of their portfolio | 358.4k $6.9m | Reduced -35.1k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 344.1k $6.7m | Added +72.8k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.01% of their portfolio | 334.5k $6.5m | Reduced -3.2k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 319.5k $6.2m | Added +1.5k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 312.8k $6.1m | Reduced -266.7k |
| CANADA LIFE ASSURANCE Co 0.01% of their portfolio | 311.9k $6.2m | Added +13.9k |
| ADELL HARRIMAN & CARPENTER INC 0.35% of their portfolio | 300.7k $5.8m | Added +28.1k |
| NATIXIS ADVISORS, LLC 0.01% of their portfolio | 294.3k $5.7m | Reduced -1.2k |
| Sargent Investment Group, LLC 0.79% of their portfolio | 286.6k $5.6m | Added +18.8k |
| SkyOak Wealth, LLC 1.03% of their portfolio | 281.7k $5.5m | Added +74.6k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 280.9k $5.4m | Added +14.5k |
| INDEPENDENT FINANCIAL GROUP, LLC 0.13% of their portfolio | 275.7k $5.3m | Added +12.8k |
| Limestone Investment Advisors LP 0.12% of their portfolio | 250.0k $258.8k | Unchanged |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 247.0k $4.8m | Added +28.1k |
| Grange Capital, LLC 4.53% of their portfolio | 242.0k $4.7m | Reduced -5.3k |
| Steward Partners Investment Advisory, LLC 0.03% of their portfolio | 230.0k $4.5m | Added +362 |
| CENTAURUS FINANCIAL, INC. 0.21% of their portfolio | 228.7k $4.4m | Added +6.6k |
| Pathstone Holdings, LLC 0.02% of their portfolio | 226.2k $4.4m | Added +7.9k |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 224.8k $4.4m | Added +48.5k |
| Corient Private Wealth LP 0.01% of their portfolio | 215.7k $4.2m | Added +59.2k |
| NISA INVESTMENT ADVISORS, LLC 0.02% of their portfolio | 207.8k $4.1m | Added +137.3k |
| OSAIC HOLDINGS, INC. 0.01% of their portfolio | 206.7k $4.1m | Added +9.8k |
| Focused Wealth Management, Inc 0.43% of their portfolio | 206.4k $4.0m | Added +2.1k |
| Texas Capital Bank Wealth Management Services Inc 0.33% of their portfolio | 204.1k $4.0m | Added +20.2k |
| Edgemoor Investment Advisors, Inc. 0.30% of their portfolio | 199.5k $3.9m | Added +6.4k |
| Truvestments Capital LLC 0.69% of their portfolio | 198.5k $3.8m | Reduced -27.7k |
| HUB Investment Partners, LLC 0.14% of their portfolio | 197.0k $3.8m | Reduced -42.7k |
| Kestra Advisory Services, LLC 0.02% of their portfolio | 197.0k $3.8m | Reduced -95.9k |
| Waterloo Capital, L.P. 0.27% of their portfolio | 186.4k $3.6m | Added +10.2k |
| Concurrent Investment Advisors, LLC 0.06% of their portfolio | 186.0k $3.6m | Added +19.5k |
| MetLife Investment Management, LLC 0.02% of their portfolio | 177.4k $3.4m | Added +3.8k |
| Twin Lakes Capital Management, LLC 1.56% of their portfolio | 173.9k $3.4m | Added +2.1k |
| RFG Advisory, LLC 0.07% of their portfolio | 169.7k $3.3m | Added +1.9k |
| Lido Advisors, LLC 0.01% of their portfolio | 167.9k $3.3m | Added +14.7k |
| COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio | 163.8k $3.2m | Reduced -44.6k |
| United Advisor Group, LLC 0.43% of their portfolio | 163.7k $3.2m | Added +10.2k |
| MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC 0.03% of their portfolio | 159.4k $3.1m | Reduced -990 |
| WHITTIER TRUST CO 0.04% of their portfolio | 159.2k $3.1m | Reduced -783 |
| Squarepoint Ops LLC 0.01% of their portfolio | 158.3k $3.1m | Added +95.4k |
| AMALGAMATED BANK 0.02% of their portfolio | 157.3k $3.0m | Added +10.3k |
| MERCER GLOBAL ADVISORS INC /ADV 0.01% of their portfolio | 157.2k $3.0m | Reduced -13.9k |