Vault-13

TWO HBRS INVT CORP

COM · REIT · CUSIP 90187B804 · ISIN US90187B8046

189 institutional holders +179 vs Q3 2022
54,258,98454.3m shares reported held*
$856.5mreported value*
172 new 2 added 7 reduced 1 sold out net bought ≈ $834.9m (+52.9m 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 ≈ $15.78. Options: 14 managers hold calls ($55.2m notional), 9 hold puts ($37.4m).

Trends to Q4 2022

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 10Q4 22: 189189Q3 22Q4 22
Numbers
QuarterHolders
Q3 202210
Q4 2022189

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$20m$40m$60mQ3 22 calls: $0Q3 22 puts: $0Q3 22P/C —Q4 22 calls: $55.2mQ4 22 puts: $37.4mQ4 22P/C 0.68
Numbers
QuarterCallsPutsP/C
Q3 2022$0$0—
Q4 2022$55.2m$37.4m0.68

Biggest buyers

BlackRock Inc. New +15,069,038+15.1m
VANGUARD GROUP INC New +9,823,329+9.8m
Allspring Global Investments Holdings, LLC New +3,968,008+4.0m
STATE STREET CORP New +3,385,091+3.4m
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ New +1,992,707+2.0m
GEODE CAPITAL MANAGEMENT, LLC New +1,572,366+1.6m
Balyasny Asset Management L.P. New +1,468,821+1.5m
Mirae Asset Global Investments Co., Ltd. New +1,234,476+1.2m
Invesco Ltd. New +1,128,410+1.1m
CHARLES SCHWAB INVESTMENT MANAGEMENT INC New +968,337+968.3k

Biggest sellers

PRICE T ROWE ASSOCIATES INC /MD/ Reduced -206,787-206.8k
Advisory Services Network, LLC Reduced -115,316-115.3k
PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO Reduced -20,331-20.3k
CAPTRUST FINANCIAL ADVISORS Reduced -4,445-4.4k
Sutton Wealth Advisors Inc. Reduced -2,685-2.7k
Quent Capital, LLC Reduced -1,311-1.3k
Ten Capital Wealth Advisors, LLC Reduced -1,253-1.3k
Lindbrook Capital, LLC Sold out -377-377

Biggest calls

GROUP ONE TRADING LLC New $18.6m1.2m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP New $9.2m583.0k shares
SIMPLEX TRADING, LLC New $8.4m531.9k shares
CITADEL ADVISORS LLC New $8.4m530.8k shares
D. E. Shaw & Co., Inc. New $3.2m200.0k shares
Polar Asset Management Partners Inc. New $2.2m139.6k shares
Parallax Volatility Advisers, L.P. New $2.0m127.9k shares
Caption Management, LLC New $1.3m80.0k shares
Walleye Trading LLC New $922.5k58.5k shares
JANE STREET GROUP, LLC New $570.5k36.2k shares

Biggest puts

Graham Capital Management, L.P. New $26.2m1.7m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP New $5.0m314.3k shares
GROUP ONE TRADING LLC New $2.2m142.1k shares
HBK INVESTMENTS L P Not comparable $2.0m125.0k shares
CITADEL ADVISORS LLC New $1.2m78.6k shares
SIMPLEX TRADING, LLC New $540.0k34.3k shares
JANE STREET GROUP, LLC New $233.8k14.8k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. New $00 shares
Cutler Group LLC / CA New $0300 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.

HolderStakeChangeShares Last filed
BlackRock, Inc. 13G · institution filed 2025-07-18 16.0% 16.6m≈ $206.0m 2025-07-18
GLAZER CAPITAL, LLC 13G · passive investor no change · filed 2026-08-11 7.5% no change 7.9m≈ $97.7m 2026-08-11
VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 5.9% new 6.2m≈ $76.8m 2026-04-29
VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 5.2% new 5.4m≈ $67.3m 2026-04-30

Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC)

Holders, Q4 2022

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BlackRock Inc. 0.01% of their portfolio New York, NY 15,069,03815.1m $237.6m $237.6m 0.01% New
2 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 9,823,3299.8m $154.9m $154.9m 0.00% New
3 Allspring Global Investments Holdings, LLC 0.11% of their portfolio CHARLOTTE, NC 3,968,0084.0m $62.6m $62.6m 0.11% New
4 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 3,385,0913.4m $53.4m $53.4m 0.00% New
5 MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.01% of their portfolio Boston, MA 1,992,7072.0m $31.4m $31.4m 0.01% New
6 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 1,572,3661.6m $24.8m $24.8m 0.00% New
7 Balyasny Asset Management L.P. 0.08% of their portfolio Chicago, IL 1,468,8211.5m $23.2m $23.2m 0.08% New
8 Mirae Asset Global Investments Co., Ltd. 0.05% of their portfolio SEOUL, M5 1,234,4761.2m $19.5m $19.5m 0.05% New
9 Invesco Ltd. 0.01% of their portfolio ATLANTA, GA 1,128,4101.1m $17.8m $17.8m 0.01% New
10 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 968,337968.3k $15.3m $15.3m 0.00% New
11 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 938,568938.6k $14.8m $14.8m 0.00% New
12 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 928,181928.2k $14.6m $14.6m 0.00% New
13 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 795,628795.6k $12.5m $12.5m 0.00% New
14 NORGES BANK 0.00% of their portfolio OSLO, Q8 761,241761.2k $12.0m $12.0m 0.00% Not comparable
15 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 689,290689.3k $10.9m $10.9m 0.00% New
16 Amundi 0.01% of their portfolio Paris, I0 591,187591.2k $10.0m $10.0m 0.01% New
17 PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio DES MOINES, IA 528,035528.0k $8.3m $8.3m 0.01% New
18 Advisors Asset Management, Inc. 0.17% of their portfolio Monument, CO 518,467518.5k $8.2m $8.2m 0.17% New
19 K2 PRINCIPAL FUND, L.P. 1.89% of their portfolio TORONTO, A6 439,460439.5k $6.9m $6.9m 1.89% New
20 VAN ECK ASSOCIATES CORP 0.02% of their portfolio NEW YORK, NY 384,050384.1k $6.1m $6.1m 0.02% New
21 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 365,756365.8k $5.8m $5.8m 0.01% New
22 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 321,606321.6k $5.1m $5.1m 0.00% New
23 CANADA PENSION PLAN INVESTMENT BOARD 0.01% of their portfolio TORONTO ONTARIO, A6 316,250316.2k $5.0m $5.0m 0.01% New
24 RHUMBLINE ADVISERS 0.01% of their portfolio BOSTON, MA 275,957276.0k $4.4m $4.4m 0.01% New
25 PINEBRIDGE INVESTMENTS, L.P. 0.05% of their portfolio NEW YORK, NY 260,607260.6k $4.1m $4.1m 0.05% New
26 Legal & General Group Plc 0.00% of their portfolio London, X0 254,674254.7k $4.0m $4.0m 0.00% New
27 Nuveen Asset Management, LLC 0.00% of their portfolio CHICAGO, IL 249,642249.6k $3.9m $3.9m 0.00% New
28 Swiss National Bank 0.00% of their portfolio ZURICH, V8 207,888207.9k $3.3m $3.3m 0.00% New
29 WOLVERINE ASSET MANAGEMENT LLC 0.05% of their portfolio CHICAGO, IL 195,721195.7k $3.1m $3.1m 0.05% New
30 PRUDENTIAL FINANCIAL INC 0.00% of their portfolio NEWARK, NJ 167,747167.7k $2.6m $2.6m 0.00% New
31 LSV ASSET MANAGEMENT 0.01% of their portfolio CHICAGO, IL 166,123166.1k $2.6m $2.6m 0.01% New
32 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 166,061166.1k $2.6m $2.6m 0.00% New
33 Thrivent Financial for Lutherans 0.01% of their portfolio Minneapolis, MN 159,732159.7k $2.5m $2.5m 0.01% New
34 Public Sector Pension Investment Board 0.02% of their portfolio MONTREAL, A8 157,841157.8k $2.5m $2.5m 0.02% New
35 UBS Group AG 0.00% of their portfolio ZURICH, V8 144,492144.5k $2.3m $2.3m 0.00% New
36 State of New Jersey Common Pension Fund D 0.01% of their portfolio TRENTON, NJ 142,815142.8k $2.3m $2.3m 0.01% New
37 TUDOR INVESTMENT CORP ET AL 0.05% of their portfolio STAMFORD, CT 141,929141.9k $2.2m $2.2m 0.05% Added +116.6k +116,642
38 AMERICAN FINANCIAL GROUP INC 0.75% of their portfolio CINCINNATI, OH 141,842141.8k $2.2m $2.2m 0.75% New
39 NATIXIS ADVISORS, LLC 0.01% of their portfolio Boston, MA 117,097117.1k $1.8m $1.8m 0.01% New
40 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio WEST SACRAMENTO, CA 109,354109.4k $1.7m $1.7m 0.00% New
41 Holocene Advisors, LP 0.01% of their portfolio New York, NY 105,773105.8k $1.7m $1.7m 0.01% New
42 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 101,700101.7k $1.6m $1.6m 0.00% New
43 COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.01% of their portfolio HARRISBURG, PA 92,44092.4k $1.5m $1.5m 0.01% New
44 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 89,64589.6k $1.4m $1.4m 0.00% New
45 CREDIT SUISSE AG/ 0.00% of their portfolio ZURICH, V8 84,41084.4k $1.3m $1.3m 0.00% New
46 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 73,82373.8k $1.2m $1.2m 0.00% New
47 GSA CAPITAL PARTNERS LLP 0.14% of their portfolio LONDON, X0 73,47573.5k $1.2m $1.2m 0.14% New
48 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 70,99671.0k $1.1m $1.1m 0.00% Reduced -206.8k -206,787
49 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 69,33269.3k $1.1m $1.1m 0.00% New
50 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 63,82463.8k $1.0m $1.0m 0.00% New
51 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 62,72462.7k $989.0k $989.0k 0.00% New
52 Penn Mutual Asset Management 1.09% of their portfolio Conshohocken, PA 62,00062.0k $977.7k $977.7k 1.09% New
53 State of Tennessee, Department of Treasury 0.00% of their portfolio NASHVILLE, TN 61,93761.9k $977.0k $977.0k 0.00% New
54 State of Alaska, Department of Revenue 0.01% of their portfolio JUNEAU, AK 60,14560.1k $948.0k $948.0k 0.01% New
55 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 58,94158.9k $929.5k $929.5k 0.00% New
56 TEXAS PERMANENT SCHOOL FUND CORP 0.01% of their portfolio AUSTIN, TX 58,06958.1k $916.0k $916.0k 0.01% New
57 BECK CAPITAL MANAGEMENT, LLC 0.37% of their portfolio AUSTIN, TX 55,06355.1k $868.3k $868.3k 0.37% New
58 YOUSIF CAPITAL MANAGEMENT, LLC 0.01% of their portfolio BLOOMFIELD HILLS, MI 54,96755.0k $866.8k $866.8k 0.01% New
59 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 54,86854.9k $865.3k $865.3k 0.00% New
60 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 52,22252.2k $823.5k $823.5k 0.00% New
61 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.00% of their portfolio BOSTON, MA 51,56551.6k $813.0k $813.0k 0.00% New
62 COMERICA BANK 0.01% of their portfolio DALLAS, TX 51,44551.4k $899.0k $899.0k 0.01% New
63 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 50,84650.8k $800.6k $800.6k 0.00% New
64 WINTON GROUP Ltd 0.05% of their portfolio LONDON, X0 48,34548.3k $762.4k $762.4k 0.05% New
65 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 47,41747.4k $748.0k $748.0k 0.00% New
66 AMERICAN INTERNATIONAL GROUP, INC. 0.01% of their portfolio New York, NY 46,94846.9k $740.4k $740.4k 0.01% New
67 MetLife Investment Management, LLC 0.01% of their portfolio Whippany, NJ 44,97945.0k $709.3k $709.3k 0.01% New
68 HRT FINANCIAL LP 0.01% of their portfolio NEW YORK, NY 44,87244.9k $707.0k $707.0k 0.01% New
69 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 43,07043.1k $679.2k $679.2k 0.00% New
70 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 41,77541.8k $658.8k $658.8k 0.00% First filing
71 Louisiana State Employees Retirement System 0.02% of their portfolio BATON ROUGE, LA 41,10041.1k $648.0k $648.0k 0.02% New
72 ALGERT GLOBAL LLC 0.03% of their portfolio SAN FRANCISCO, CA 39,80739.8k $627.8k $627.8k 0.03% New
73 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 39,67339.7k $625.0k $625.0k 0.00% New
74 AMALGAMATED BANK 0.01% of their portfolio NEW YORK, NY 39,23239.2k $619.0k $619.0k 0.01% New
75 STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.00% of their portfolio TALLAHASSEE, FL 38,73338.7k $610.8k $610.8k 0.00% New
76 Maryland State Retirement & Pension System 0.02% of their portfolio BALTIMORE, MD 35,60035.6k $561.4k $561.4k 0.02% New
77 NISA INVESTMENT ADVISORS, LLC 0.00% of their portfolio ST. LOUIS, MO 34,93734.9k $551.0k $551.0k 0.00% New
78 Penserra Capital Management LLC 0.01% of their portfolio ORINDA, CA 34,50334.5k $544.0k $544.0k 0.01% New
79 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 34,44934.4k $543.0k $543.0k 0.00% New
80 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio Toronto, A6 34,42434.4k $542.9k $542.9k 0.00% New
81 VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio ATLANTA, GA 32,11832.1k $506.5k $506.5k 0.00% New
82 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 32,01132.0k $504.8k $504.8k 0.00% New
83 OREGON PUBLIC EMPLOYEES RETIREMENT FUND 0.01% of their portfolio TIGARD, OR 28,52028.5k $449.8k $449.8k 0.01% New
84 TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY 0.00% of their portfolio FRANKFORT, KY 26,38526.4k $417.0k $417.0k 0.00% New
85 NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio ALBANY, NY 25,71725.7k $406.0k $406.0k 0.00% New
86 Triumph Capital Management 0.21% of their portfolio DENVER, CO 25,07125.1k $395.4k $395.4k 0.21% New
87 ARIZONA STATE RETIREMENT SYSTEM 0.00% of their portfolio PHOENIX, AZ 24,29824.3k $383.2k $383.2k 0.00% New
88 West Family Investments, Inc. 0.13% of their portfolio CARLSBAD, CA 24,18724.2k $381.4k $381.4k 0.13% New
89 Schonfeld Strategic Advisors LLC 0.00% of their portfolio NEW YORK, NY 23,30023.3k $367.4k $367.4k 0.00% New
90 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 22,88722.9k $360.9k $360.9k 0.00% New
91 VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio San Antonio, TX 22,00222.0k $347.0k $347.0k 0.00% Not comparable
92 COMMERCE BANK 0.00% of their portfolio KANSAS CITY, MO 20,05320.1k $316.2k $316.2k 0.00% New
93 Advisory Services Network, LLC 0.01% of their portfolio ATLANTA, GA 19,90919.9k $314.0k $314.0k 0.01% Reduced -115.3k -115,316
94 Tower Research Capital LLC (TRC) 0.01% of their portfolio NEW YORK, NY 18,80818.8k $297.0k $297.0k 0.01% New
95 CREDIT AGRICOLE S A 0.01% of their portfolio Montrouge Cedex, I0 18,75018.8k $295.7k $295.7k 0.01% New
96 STRS OHIO 0.00% of their portfolio COLUMBUS, OH 18,30018.3k $288.0k $288.0k 0.00% New
97 TEACHER RETIREMENT SYSTEM OF TEXAS 0.00% of their portfolio AUSTIN, TX 17,12717.1k $270.0k $270.0k 0.00% New
98 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 15,71915.7k $247.9k $247.9k 0.00% Reduced -4.4k -4,445
99 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 15,45615.5k $243.7k $243.7k 0.00% New
100 AE Wealth Management LLC 0.00% of their portfolio TOPEKA, KS 15,15015.2k $238.9k $238.9k 0.00% New