Algebris (uk) Ltd.

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), Algebris (uk) Ltd. reported 41 stock positions worth $620.6 million. Its top holding was Lincoln National (LNC) at 8.4% of the portfolio, followed by Citigroup (C, 8.4%) and Citizens Financial (CFG, 8.1%). Compared with Q1 2025, it opened 8 new positions, sold out of 9, added to 23 and reduced 7. The biggest buy was Corebridge Financial (CRBG, shares +104%) and the biggest sale an exit from Air Transport Services G (atsg 3.875 08/15/29).

Most Recent 13F
Q2 2026
Location
London, X0
CIK
0001700286
Portfolio Value
$620.6M (Q2 2025)
SEC Filing
0001700286-25-000013 ↗ filed Aug 13, 2025

Holdings Value

0$500.0M$1.0B$1.5B$2.0B Q1 2024: $225.3M Q1 2024 Q2 2024: $310.6M Q2 2024 Q3 2024: $239.1M Q3 2024 Q4 2024: $360.7M Q4 2024 Q1 2025: $522.5M Q1 2025 Q2 2025: $620.6M $620.6M Q2 2025 Q3 2025: $868.7M Q3 2025 Q4 2025: $1.2B Q4 2025 Q1 2026: $1.4B Q1 2026 Q2 2026: $1.5B Q2 2026

Holdings 41 stocks · $620.6M
LNC Lincoln National Corp. 8.40% 1,509,150 $52.1M Add +58.1%
C Citigroup Inc. 8.39% 612,696 $52.1M Add +9.6%
CFG Citizens Financial Group 8.06% 1,119,103 $50.0M Add +11.1%
FHN First Horizon Corp. 7.33% 2,147,478 $45.5M Add +61.4%
BAC Bank of America Corp. filed as BANK AMERICA CORP 6.26% 821,881 $38.8M Reduce -30.0%
CRBG Corebridge Financial Inc. 6.06% 1,060,133 $37.6M Add +103.6%
VOYA Voya Financial Inc. 5.80% 507,499 $36.0M Add +43.2%
MET Metlife Inc. 5.30% 409,810 $32.9M Reduce -8.9%
EQH Equitable Holdings Inc. 5.00% 553,972 $31.0M Add +37.7%
KEY Keycorp 3.89% 1,389,143 $24.2M Add +7.0%
WBS Webster Financial Corp. 3.44% 391,822 $21.4M Add +5.2%
CG The Carlyle Group Inc. 3.25% 392,871 $20.2M Reduce -18.5%
NLY Annaly Capital Management Inc. 3.18% 1,050,017 $19.7M Add +23.2%
ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) 2.80% 16,000,000 $17.4M New
PB Prosperity Bancshares Inc. 2.63% 232,667 $16.3M Add +54.4%
UNM Unum Group 2.59% 199,009 $16.0M New
DX Dynex Capital Inc. 1.94% 986,633 $12.0M Add +82.6%
SNV Synovus Financial Corp. 1.90% 228,741 $11.8M Add +16.3%
GPN Global Payments Inc. 1.81% 140,576 $11.2M Add +174.0%
SF Stifel Financial Corp. 1.74% 103,975 $10.8M Add +68.2%
SPECTRUM BRANDS INC (SPB 3.375 06/01/29) 1.49% 11,950,000 $9.3M New
NCNO Ncino Inc. 1.47% 327,411 $9.1M Add +24.5%
AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) 1.23% 8,900,000 $7.6M No change
CMA Comerica Inc. 1.20% 125,247 $7.5M New
MTB M & T Bank Corp. filed as M & T BK CORP 1.20% 38,501 $7.5M Reduce -66.6%
SSB Southstate Bank Corp. 1.06% 71,533 $6.6M New
COR Cencora Inc. 0.31% 6,521 $2.0M Add +4.2%
RSG Republic Services Inc. 0.29% 7,422 $1.8M Reduce -33.5%
V Visa Inc. Class A 0.26% 4,524 $1.6M New
WM Waste Management Inc. 0.26% 6,977 $1.6M Reduce -31.3%
HERBALIFE LTD (HLF 4.25 06/15/28) 0.25% 2,000,000 $1.6M No change
MSFT Microsoft Corp. 0.22% 2,708 $1.3M Add +175.5%
ISRG Intuitive Surgical Inc. 0.20% 2,291 $1.2M Add +44.4%
SYK Stryker Corp. 0.18% 2,883 $1.1M Reduce -9.7%
XYL Xylem Inc. 0.14% 6,487 $838K Add +99.2%
GWW WW Grainger Inc. filed as GRAINGER W W INC 0.11% 643 $668K Add +71.0%
HUBB Hubbell Inc. 0.10% 1,587 $647K New
SNPS Synopsys Inc. 0.09% 1,047 $536K Add +96.8%
CLH Clean Harbors Inc. 0.08% 2,049 $473K Add +68.4%
CNM Core & Main Inc. Class A 0.05% 5,289 $319K New
GNTA Genenta Science SPA - ADR 0.05% 100,000 $310K No change
Other holdings (1): bonds, preferreds, convertibles and warrants · $13.7M (not counted above)
SecurityClassShares / PrincipalValueChange
PG&E CORP (PCG 6 12/01/27 A) PFD CONV SER A 365,000$13.7MReduce -45.1%

Total filed on the 13F, all lines: $634.3M.

Portfolio Sells Q1 2025 → Q2 2025
AIR TRANSPORT SERVICES G (ATSG 3.875 08/15/29) Sold out 0.00% −3.89
TFC Truist Financial Corp. Sold out 0.00% −3.82
PRU Prudential Financial Inc. Sold out 0.00% −3.81
BBD Banco Bradesco-ADR Sold out 0.00% −2.92
MTB M & T Bank Corp. Reduce -66.6% 1.20% −2.45
BAC Bank of America Corp. Reduce -30.0% 6.26% −2.43
BHF Brighthouse Financial Inc. Sold out 0.00% −2.25
WFC Wells Fargo & Co. Sold out 0.00% −1.90
MET Metlife Inc. Reduce -8.9% 5.30% −1.10
ALKT Alkami Technology Inc. Sold out 0.00% −0.60
CG The Carlyle Group Inc. Reduce -18.5% 3.25% −0.47
EVR Evercore Inc. Class A Sold out 0.00% −0.47
RSG Republic Services Inc. Reduce -33.5% 0.29% −0.18
WM Waste Management Inc. Reduce -31.3% 0.26% −0.16
CSL Carlisle Cos Inc. Sold out 0.00% −0.06
SYK Stryker Corp. Reduce -9.7% 0.18% −0.03

Portfolio Buys Q1 2025 → Q2 2025
CRBG Corebridge Financial Inc. Add +103.6% 6.06% +3.14
ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) New 2.80% +2.80
FHN First Horizon Corp. Add +61.4% 7.33% +2.75
UNM Unum Group New 2.59% +2.59
LNC Lincoln National Corp. Add +58.1% 8.40% +2.33
VOYA Voya Financial Inc. Add +43.2% 5.80% +1.55
SPECTRUM BRANDS INC (SPB 3.375 06/01/29) New 1.49% +1.49
C Citigroup Inc. Add +9.6% 8.39% +1.36
EQH Equitable Holdings Inc. Add +37.7% 5.00% +1.29
CMA Comerica Inc. New 1.20% +1.20
SSB Southstate Bank Corp. New 1.06% +1.06
GPN Global Payments Inc. Add +174.0% 1.81% +0.92
CFG Citizens Financial Group Add +11.1% 8.06% +0.75
PB Prosperity Bancshares Inc. Add +54.4% 2.63% +0.72
SF Stifel Financial Corp. Add +68.2% 1.74% +0.70
DX Dynex Capital Inc. Add +82.6% 1.94% +0.69
SNV Synovus Financial Corp. Add +16.3% 1.90% +0.28
V Visa Inc. Class A New 0.26% +0.26
KEY Keycorp Add +7.0% 3.89% +0.21
NCNO Ncino Inc. Add +24.5% 1.47% +0.19
MSFT Microsoft Corp. Add +175.5% 0.22% +0.15
NLY Annaly Capital Management Inc. Add +23.2% 3.18% +0.11
HUBB Hubbell Inc. New 0.10% +0.10
XYL Xylem Inc. Add +99.2% 0.14% +0.07
ISRG Intuitive Surgical Inc. Add +44.4% 0.20% +0.06
CNM Core & Main Inc. Class A New 0.05% +0.05
SNPS Synopsys Inc. Add +96.8% 0.09% +0.05
GWW WW Grainger Inc. Add +71.0% 0.11% +0.04
WBS Webster Financial Corp. Add +5.2% 3.44% +0.04
CLH Clean Harbors Inc. Add +68.4% 0.08% +0.03
COR Cencora Inc. Add +4.2% 0.31% +0.01

Notes & Other Activity Q1 2025 → Q2 2025
PG&E CORP (PCG 6 12/01/27 A) PFD CONV SER A Reduce -45.1% 365,000 $13.7M

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 72$1.5BAIG, GPN, EQH, CG, KKR
Q1 2026 69$1.4BBAC, EQH, UNM, KKR, PB
Q4 2025Amended 78$1.2BPB, EQH, UNM, CG, BX
Q3 2025 66$868.7MCFG, CRBG, LNC, VOYA, MET
Q2 2025 41$620.6MLNC, C, CFG, FHN, BAC
Q1 2025 42$522.5MBAC, CFG, C, MET, LNC
Q4 2024 39$360.7MEQH, MET, C, PRU, CRBG
Q3 2024 24$239.1MEQH, CG, LNC, AIR TRANSPORT SERVICES G (ATSG 3.875 08/15/29), CRBG
Q2 2024 45$310.6MEQH, JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26), BBD, WBS, LNC
Q1 2024Amended 43$225.3MEQH, LNC, JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26), CMA, MET