Vault-13

STARWOOD PPTY TR INC STWD 6.75 07.15.27

NOTE 6.750% 7/1 · US DOMESTIC · CUSIP 85571BBA2

44 institutional holders +0 vs Q4 2024
44,415,02644.4m shares reported held*
$397.7mreported value*
8 new 12 added 6 reduced 8 sold out net bought ≈ $11.4m (-11.1m 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 ≈ $8.95.

Trends to Q1 2025

Institutional holders

Managers reporting a position, each quarter

0204060Q2 23: 45Q3 23: 40Q4 23: 39Q1 24: 35Q2 24: 38Q3 24: 43Q4 24: 44Q1 25: 4444Q2 23Q4 23Q2 24Q4 24Q1 25
Numbers
QuarterHolders
Q2 202345
Q3 202340
Q4 202339
Q1 202435
Q2 202438
Q3 202443
Q4 202444
Q1 202544

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q3 23: 24 bought or addedQ3 23: 21 cut or sold outQ3 23Q4 23: 17 bought or addedQ4 23: 15 cut or sold outQ1 24: 14 bought or addedQ1 24: 17 cut or sold outQ1 24Q2 24: 14 bought or addedQ2 24: 12 cut or sold outQ3 24: 15 bought or addedQ3 24: 12 cut or sold outQ3 24Q4 24: 17 bought or addedQ4 24: 13 cut or sold outQ1 25: 20 bought or addedQ1 25: 14 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q3 20232421
Q4 20231715
Q1 20241417
Q2 20241412
Q3 20241512
Q4 20241713
Q1 20252014

Biggest buyers

UBS Group AG New +13,750,000+13.8m
Walleye Capital LLC Added +9,100,000+9.1m
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND New +7,500,000+7.5m
Thrivent Financial for Lutherans New +6,868,000+6.9m
ANGELO GORDON & CO., L.P. Added +5,000,000+5.0m
JANE STREET GROUP, LLC New +4,650,000+4.7m
KIM, LLC Added +4,500,000+4.5m
GOLDMAN SACHS GROUP INC New +2,500,000+2.5m
WOLVERINE ASSET MANAGEMENT LLC Added +1,682,000+1.7m
ADVENT CAPITAL MANAGEMENT /DE/ New +1,500,000+1.5m

Biggest sellers

MILLENNIUM MANAGEMENT LLC Sold out -21,000,000-21.0m
Rokos Capital Management LLP Reduced -9,992,000-10.0m
Thrivent Financial for Lutherans Sold out -9,538,000-9.5m
JANE STREET GROUP, LLC Sold out -5,100,000-5.1m
DEUTSCHE BANK AG\ Reduced -4,600,000-4.6m
TWO SIGMA INVESTMENTS, LP Reduced -3,160,000-3.2m
MIZUHO SECURITIES USA LLC Sold out -1,500,000-1.5m
STATE STREET CORP Reduced -1,000,000-1.0m
BANK OF AMERICA CORP /DE/ Reduced -220,000-220.0k
SG Americas Securities, LLC Sold out -40,000-40.0k

Holders, Q1 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 TWO SIGMA INVESTMENTS, LP 0.11% of their portfolio NEW YORK, NY 49,733,00049.7m $52.5m $52.5m 0.11% Reduced -3.2m -3,160,000
2 ANGELO GORDON & CO., L.P. 8.10% of their portfolio NEW YORK, NY 44,250,00044.2m $46.7m $46.7m 8.10% Added +5.0m +5,000,000
3 DLD Asset Management, LP 5.61% of their portfolio NEW YORK, NY 36,500,00036.5m $38.8m $38.8m 5.61% Unchanged
4 LMR Partners LLP 0.58% of their portfolio LONDON, X0 27,500,00027.5m $29.0m $29.0m 0.58% Unchanged
5 Walleye Capital LLC 0.28% of their portfolio NEW YORK, NY 24,100,00024.1m $25.5m $25.5m 0.28% Added +9.1m +9,100,000
6 Nuveen, LLC 0.01% of their portfolio CHARLOTTE, NC 23,500,00023.5m $24.8m $24.8m 0.01% First filing
7 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 18,000,00018.0m $19.0m $19.0m 0.01% Unchanged
8 WOLVERINE ASSET MANAGEMENT LLC 0.36% of their portfolio CHICAGO, IL 17,415,00017.4m $18.5m $18.5m 0.36% Added +1.7m +1,682,000
9 UBS Group AG 0.00% of their portfolio ZURICH, V8 13,750,00013.8m $14.5m $14.5m 0.00% New
10 Portman Square Capital LLP 1.46% of their portfolio London, X0 10,000,00010.0m $10.6m $10.6m 1.46% Unchanged
11 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 7,500,0007.5m $8.0m $8.0m 0.00% Reduced -1.0m -1,000,000
12 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.02% of their portfolio TORONTO, A6 7,500,0007.5m $7.9m $7.9m 0.02% New
13 KIM, LLC 1.22% of their portfolio WICHITA, KS 7,276,0007.3m $7.7m $7.7m 1.22% Added +4.5m +4,500,000
14 Thrivent Financial for Lutherans 0.02% of their portfolio Minneapolis, MN 6,868,0006.9m $7.3m $7.3m 0.02% New
15 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 5,000,0005.0m $5.3m $5.3m 0.00% Reduced -4.6m -4,600,000
16 Calamos Advisors LLC 0.02% of their portfolio NAPERVILLE, IL 5,000,0005.0m $5.3m $5.3m 0.02% Unchanged
17 Saba Capital Management, L.P. 0.15% of their portfolio NEW YORK, NY 5,000,0005.0m $5.3m $5.3m 0.15% Unchanged
18 LAZARD ASSET MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 4,960,0005.0m $5.3m $5.3m 0.01% Unchanged
19 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 4,650,0004.7m $4.9m $4.9m 0.01% New
20 CSS LLC/IL 0.33% of their portfolio CHICAGO, IL 4,476,0004.5m $4.7m $4.7m 0.33% Added +71.0k +71,000
21 Skaana Management L.P. 1.75% of their portfolio BROOKLYN, NY 3,607,0003.6m $3.8m $3.8m 1.75% Unchanged
22 CONNING INC. 0.13% of their portfolio HARTFORD, CT 3,600,0003.6m $3.8m $3.8m 0.13% Unchanged
23 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 2,500,0002.5m $2.6m $2.6m 0.00% Added +330.0k +330,000
24 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 2,500,0002.5m $2.6m $2.6m 0.00% New
25 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 2,000,0002.0m $2.1m $2.1m 0.00% Unchanged
26 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 1,700,0001.7m $1.8m $1.8m 0.00% Added +1.5m +1,500,000
27 ADVENT CAPITAL MANAGEMENT /DE/ 0.04% of their portfolio NEW YORK, NY 1,500,0001.5m $1.6m $1.6m 0.04% New
28 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 1,093,0001.1m $1.2m $1.2m 0.00% Unchanged
29 Cutler Capital Management, LLC 0.36% of their portfolio WORCESTER, MA 975,000975.0k $1.0m $1.0m 0.36% Unchanged
30 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 560,000560.0k $591.1k $591.1k 0.00% Reduced -220.0k -220,000
31 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 255,000255.0k $269.1k $269.1k 0.00% Unchanged
32 &PARTNERS 0.00% of their portfolio NASHVILLE, TN 140,000140.0k $147.2k $147.2k 0.00% Reduced -4.0k -4,000
33 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 88,00088.0k $92.5k $92.5k 0.00% Unchanged
34 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 50,00050.0k $53.0k $53.0k 0.00% Unchanged
35 VIRTUS ADVISERS, LLC 0.02% of their portfolio HARTFORD, CT 32,00032.0k $33.8k $33.8k 0.02% New
36 Context Capital Management, LLC 0.89% of their portfolio LAJOLLA, CA 21,76221.8k $23.1m $23.1m 0.89% Added +2.5k +2,500
37 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 21,10921.1k $21.1k $21.1k 0.00% Added +334 +334
38 LANARK FINANCIAL, INC. 0.00% of their portfolio BIRMINGHAM, AL 13,00013.0k $13.0k $13.0k 0.00% Added +13.0k +12,987
39 Goldstein Advisors, LLC 0.00% of their portfolio Madison, WI 13,00013.0k $13.8k $13.8k 0.00% Unchanged
40 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 10,00010.0k $10.6k $10.6k 0.00% New
41 Rokos Capital Management LLP 0.23% of their portfolio LONDON, X0 8,0008.0k $8.4m $8.4m 0.23% Reduced -10.0m -9,992,000
42 Centiva Capital, LP 0.02% of their portfolio New York, NY 3,0003.0k $318.2k $318.2k 0.02% Added +2.0k +2,000
43 LAFFER TENGLER INVESTMENTS, INC. 0.47% of their portfolio Scottsdale, AZ 2,0262.0k $2.2m $2.2m 0.47% Added +4 +4
44 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged