Bayview Asset Management, LLC In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Bayview Asset Management, LLC reported 33 stock positions worth $89.0 million . Its top holding was Guild Class A (GHLD) at 27.4% of the portfolio, followed by Banc of California (BANC, 15.8% ) and Beacon Financial (BBT, 10.1% ). Compared with Q4 2024, it opened 18 new positions, sold out of 6, added to 4 and reduced 5. The biggest buy was a new position in PNC Financial Services (PNC) and the biggest sale Financial Institutions (FISI, shares −53% ).
Location CORAL GABLES, FL
CIK 0001767366
Portfolio Value $89.0M (Q1 2025) Holdings 33 stocks · $89.0M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2024 GHLD Guild Holdings Co. Class A 1,595,844 $24.4M No change BANC Banc of California Inc. 993,130 $14.1M No change BBT Beacon Financial Corp. filed as BERKSHIRE HILLS BANCORP INC 344,828 $9.0M No change PNC PNC Financial Services Group 15,000 $2.6M New JPM JPMorgan Chase & Co. 9,057 $2.2M New RF Regions Financial Corp. 100,000 $2.2M New AVB Avalonbay Communities Inc. 10,000 $2.1M Add +40.0% C Citigroup Inc. 29,500 $2.1M New NTRS Northern Trust Corp. 20,300 $2.0M New FISI Financial Institutions Inc. 80,085 $2.0M Reduce -53.4% FLG Flagstar Bank NA 166,666 $1.9M No change WBS Webster Financial Corp. 35,699 $1.8M Reduce -26.0% STT State Street Corp. 20,000 $1.8M New MA Mastercard Inc. Class A 2,940 $1.6M New BAC Bank of America Corp. filed as BANK AMERICA CORP 36,800 $1.5M New HBAN Huntington Bancshares Inc. 100,000 $1.5M New PHM Pultegroup Inc. 14,287 $1.5M Add +22.2% DHI D.R. Horton Inc. 10,390 $1.3M New JLL Jones Lang Lasalle Inc. 5,066 $1.3M Add +35.1% V Visa Inc. Class A 3,540 $1.2M New SPGI S&P Global Inc. 2,400 $1.2M New BPOP Popular Inc. 12,635 $1.2M Add +146.1% FAF First American Financial 16,780 $1.1M New RITM Rithm Capital Corp. 87,500 $1.0M Reduce -41.7% ONB Old National Bancorp 46,684 $989K No change TMHC Taylor Morrison Home Corp. 16,087 $966K New BKU Bankunited Inc. 27,500 $947K New SCHW Schwab (charles) Corp. 10,506 $822K New ESNT Essent Group Ltd. 12,300 $710K No change GL Globe Life Inc. 5,000 $659K Reduce -80.2% BUSE First Busey Corp. 23,509 $508K New WSBC Wesbanco Inc. 12,189 $377K New MTH Meritage Homes Corp. 3,896 $276K Reduce -72.7%
Options reported separately and not counted above: SPY puts ($96.8M), KRE puts ($9.9M), ITB calls ($4.9M), NTRS puts ($3.0M), KRE calls ($2.8M), PNC puts ($2.6M), JPM puts ($2.5M), STT puts ($2.2M), MA puts ($2.2M), RF puts ($2.2M), AVB puts ($2.1M), C puts ($2.1M), and 9 more.
Portfolio Sells Q4 2024 → Q1 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▲ FISI Financial Institutions Inc. Reduce -53.4% 2.25% −3.88 USB US Bancorp Sold out 0.00% −3.19 GL Globe Life Inc. Reduce -80.2% 0.74% −2.93 BNY Bank of New York Mellon Corp. Sold out 0.00% −2.44 TFC Truist Financial Corp. Sold out 0.00% −1.84 LEN Lennar Corp. Class A Sold out 0.00% −1.62 AXP American Express Co. Sold out 0.00% −1.60 WBS Webster Financial Corp. Reduce -26.0% 2.07% −1.41 MTH Meritage Homes Corp. Reduce -72.7% 0.31% −1.12 AGNC AGNC Investment Corp. Sold out 0.00% −1.08 RITM Rithm Capital Corp. Reduce -41.7% 1.13% −0.99
Portfolio Buys Q4 2024 → Q1 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▼ PNC PNC Financial Services Group New 2.96% +2.96 JPM JPMorgan Chase & Co. New 2.50% +2.50 RF Regions Financial Corp. New 2.44% +2.44 C Citigroup Inc. New 2.35% +2.35 NTRS Northern Trust Corp. New 2.25% +2.25 STT State Street Corp. New 2.01% +2.01 MA Mastercard Inc. Class A New 1.81% +1.81 BAC Bank of America Corp. New 1.73% +1.73 HBAN Huntington Bancshares Inc. New 1.69% +1.69 DHI D.R. Horton Inc. New 1.48% +1.48 V Visa Inc. Class A New 1.39% +1.39 SPGI S&P Global Inc. New 1.37% +1.37 FAF First American Financial New 1.24% +1.24 TMHC Taylor Morrison Home Corp. New 1.08% +1.08 BKU Bankunited Inc. New 1.06% +1.06 SCHW Schwab (charles) Corp. New 0.92% +0.92 BPOP Popular Inc. Add +146.1% 1.31% +0.68 BUSE First Busey Corp. New 0.57% +0.57 WSBC Wesbanco Inc. New 0.42% +0.42 AVB Avalonbay Communities Inc. Add +40.0% 2.41% +0.36 JLL Jones Lang Lasalle Inc. Add +35.1% 1.41% +0.17 PHM Pultegroup Inc. Add +22.2% 1.65% −0.01
Options Activity Q4 2024 → Q1 2025 Security Type Change vs Q4 2024 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put New 173,000 $96.8M KRE SS SPDR S&P Regional Bank put Reduce -41.7% 175,000 $9.9M ITB iShares U.S. Home Constructi call New 51,900 $4.9M ITB iShares U.S. Home Constructi put Sold out 39,000 $4.0Mbefore exit NTRS Northern Trust Corp. put New 30,000 $3.0M KRE SS SPDR S&P Regional Bank call Add +25.0% 50,000 $2.8M PNC PNC Financial Services Group put New 15,000 $2.6M JPM JPMorgan Chase & Co. put New 10,000 $2.5M USB US Bancorp put Sold out 50,000 $2.4Mbefore exit BNY Bank of New York Mellon Corp. put Sold out 30,000 $2.3Mbefore exit STT State Street Corp. put New 25,000 $2.2M AXP American Express Co. put Sold out 7,500 $2.2Mbefore exit MA Mastercard Inc. Class A put New 4,000 $2.2M RF Regions Financial Corp. put New 100,000 $2.2M TFC Truist Financial Corp. put Sold out 50,000 $2.2Mbefore exit C Citigroup Inc. put New 30,000 $2.1M V Visa Inc. Class A put New 6,000 $2.1M SPGI S&P Global Inc. put New 4,000 $2.0M XLF SS Financial Select Sector put Reduce -30.0% 35,000 $1.7M GL Globe Life Inc. put Sold out 15,500 $1.7Mbefore exit BAC Bank of America Corp. put New 40,000 $1.7M FAF First American Financial put New 25,000 $1.6M SCHW Schwab (charles) Corp. put New 20,000 $1.6M REM iShares Mortgage Real Estate put Sold out 72,500 $1.5Mbefore exit WBS Webster Financial Corp. put Reduce -40.0% 30,000 $1.5M HBAN Huntington Bancshares Inc. put New 100,000 $1.5M IYR iShares US Real Estate ETF put Sold out 15,000 $1.4Mbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 44 $133.8M FRBT, BBT, RITM, SSB, CBRE Q1 2026 42 $119.8M BANC, BBT, XLF, FNF, APO Q4 2025 45 $111.0M BBT, BANC, ARCC, RITM, JPM Q3 2025 45 $130.1M GHLD, BANC, BBT, HIG, RITM Q2 2025 35 $99.4M GHLD, BANC, BBT, BNY, JPM Q1 2025 33 $89.0M GHLD, BANC, BBT, PNC, JPM Q4 2024 21 $76.6M GHLD, BANC, BBT, FISI, GL Q3 2024 24 $179.2M ACT, GHLD, BANC, FLG, WSBC Q2 2024 28 $169.7M ACT, FLG, GHLD, BANC, WBS Q1 2024 23 $248.2M ACT, IYR, FLG, KRE, BANC