TWO HARBORS INVENTMENT CORPO

CUSIP: 90187BAB7 Class: NOTE 6.250% 1/1

Note: Option positions (PUT/CALL) are excluded.

InstitutionSharesValue ($000)
HBK INVESTMENTS L P62,077,000$62,178
FRANKLIN RESOURCES INC12,970,000$13,049
PIPER SANDLER & CO.12,687,000$12,560
SSI INVESTMENT MANAGEMENT LLC9,497,000$9,473
WHITEBOX ADVISORS LLC9,279,000$9,233
JPMORGAN CHASE & CO8,377,000$8,377
Catalyst Capital Advisors LLC7,225,000$7,207
AMERICAN FINANCIAL GROUP INC6,000,000$5,998
FMR LLC5,800,000$5,771
OAKTREE CAPITAL MANAGEMENT LP3,298,000$3,290
BANK OF AMERICA CORP /DE/3,000,000$2,985
TORONTO DOMINION BANK2,575,000$2,575
Almitas Capital LLC1,613,000$1,613
Russell Investments Group, Ltd.1,520,000$1,565
Delphi Financial Group, Inc.1,509,000$1,509
SCHRODER INVESTMENT MANAGEMENT GROUP1,010,000$1,005
GLAZER CAPITAL, LLC1,000,000$1
CHAPMAN FINANCIAL GROUP, LLC950,000$977
Seelaus Asset Management LLC884,000$884
Meadowbrook Advisors Group, LLC556,000$553
Context Capital Management, LLC486,000$485
&PARTNERS156,000$155
STIFEL FINANCIAL CORP155,220$155
ROYAL BANK OF CANADA145,000$145
Savant Capital, LLC125,000$129
Advisory Services Network, LLC85,000$85
Central Pacific Bank - Trust Division52,000$52
COMMONWEALTH EQUITY SERVICES, LLC50,000$50
D.A. DAVIDSON & CO.50,000$50
LaSalle St. Investment Advisors, LLC45,000$0
Joel Isaacson & Co., LLC40,000$40
Cetera Investment Advisers40,000$40
FIRST HORIZON CORP30,000$30
Creative Planning25,000$25
MORGAN STANLEY19,000$19
Goldstein Advisors, LLC17,000$17
WELLS FARGO & COMPANY/MN15,000$15
Parkside Financial Bank & Trust14,000$14
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC14,000$14
Integrated Advisors Network LLC10,000$10
Arkadios Wealth Advisors10,000$10
Left Brain Wealth Management, LLC10,000$10
Laffer Tengler Investments, Inc.2,623$2,777
MONETA GROUP INVESTMENT ADVISORS LLC100$10
OSAIC HOLDINGS, INC.18$18
Total (45 institutions)153,422,961$155,157