Vault-13

TWO HARBORS INVENTMENT CORPO TWO 6.25 01.15.26

NOTE 6.250% 1/1 · US DOMESTIC · CUSIP 90187BAB7

0 institutional holders -45 vs Q4 2025
—reported value*
0 new 0 added 0 reduced 45 sold out net sold ≈ $156.2m (-8.8m 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.

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 29Q4 22: 28Q1 23: 28Q2 23: 32Q3 23: 34Q4 23: 36Q1 24: 40Q2 24: 43Q3 24: 42Q4 24: 45Q1 25: 43Q2 25: 42Q3 25: 40Q4 25: 45Q1 26: 00Q3 22Q3 23Q3 24Q3 25Q1 26
Numbers
QuarterHolders
Q3 202229
Q4 202228
Q1 202328
Q2 202332
Q3 202334
Q4 202336
Q1 202440
Q2 202443
Q3 202442
Q4 202445
Q1 202543
Q2 202542
Q3 202540
Q4 202545
Q1 20260

Buyers vs sellers

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

Bought or addedCut or sold out
50050Q2 24: 12 bought or addedQ2 24: 13 cut or sold outQ3 24: 11 bought or addedQ3 24: 10 cut or sold outQ3 24Q4 24: 8 bought or addedQ4 24: 15 cut or sold outQ1 25: 13 bought or addedQ1 25: 10 cut or sold outQ1 25Q2 25: 9 bought or addedQ2 25: 13 cut or sold outQ3 25: 9 bought or addedQ3 25: 8 cut or sold outQ3 25Q4 25: 14 bought or addedQ4 25: 11 cut or sold outQ1 26: 0 bought or addedQ1 26: 45 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 20241213
Q3 20241110
Q4 2024815
Q1 20251310
Q2 2025913
Q3 202598
Q4 20251411
Q1 2026045

Biggest buyers

None

Biggest sellers

HBK INVESTMENTS L P Sold out -62,077,000-62.1m
FRANKLIN RESOURCES INC Sold out -12,970,000-13.0m
PIPER SANDLER & CO. Sold out -12,687,000-12.7m
SSI INVESTMENT MANAGEMENT LLC Sold out -9,497,000-9.5m
WHITEBOX ADVISORS LLC Sold out -9,279,000-9.3m
JPMORGAN CHASE & CO Sold out -8,377,000-8.4m
Catalyst Capital Advisors LLC Sold out -7,225,000-7.2m
AMERICAN FINANCIAL GROUP INC Sold out -6,000,000-6.0m
FMR LLC Sold out -5,800,000-5.8m
OAKTREE CAPITAL MANAGEMENT LP Sold out -3,298,000-3.3m

Holders, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change