Bayview Asset Management, LLC In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Bayview Asset Management, LLC reported 45 stock positions worth $111.0 million . Its top holding was Beacon Financial (BBT) at 12.9% of the portfolio, followed by Banc of California (BANC, 12.6% ) and Ares Capital (ARCC, 4.9% ). Compared with Q3 2025, it opened 13 new positions, sold out of 13, added to 16 and reduced 13. The biggest buy was a new position in Ares Capital (ARCC) and the biggest sale an exit from Guild Class A (GHLD).
Location CORAL GABLES, FL
CIK 0001767366
Portfolio Value $111.0M (Q4 2025) Holdings 45 stocks · $111.0M 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 Q3 2025 BBT Beacon Financial Corp. 544,828 $14.4M Add +19.4% BANC Banc of California Inc. 725,000 $14.0M Reduce -27.0% ARCC Ares Capital Corp. 270,032 $5.5M New RITM Rithm Capital Corp. 425,977 $4.6M Add +54.9% JPM JPMorgan Chase & Co. 12,500 $4.0M Add +150.0% BIZD Vaneck BDC Income ETF 274,000 $3.9M New ONB Old National Bancorp 145,000 $3.2M Add +16.0% BXSL Blackstone Secured Lending F 107,000 $2.8M New WSBC Wesbanco Inc. 80,300 $2.7M Add +0.4% USB US Bancorp 50,000 $2.7M Add +11.1% APO Apollo Global Management Inc. 18,000 $2.6M New SBSI Southside Bancshares Inc. 85,457 $2.6M Add +48.6% FNB FNB Corp. 143,997 $2.5M Add +68.0% MFA Mfa Financial Inc. 252,500 $2.4M Reduce -15.8% BRO Brown & Brown Inc. 28,109 $2.2M New RF Regions Financial Corp. 80,000 $2.2M Add +700.0% FLG Flagstar Bank NA 166,666 $2.1M No change XLF SS Financial Select Sector 34,200 $1.9M New CB Chubb Ltd. 6,000 $1.9M Reduce -40.0% TOWN Towne Bank 55,000 $1.8M New ITB iShares U.S. Home Constructi 18,600 $1.8M New BUSE First Busey Corp. 71,920 $1.7M Add +43.8% SPGI S&P Global Inc. 3,200 $1.7M Reduce -46.7% PNC PNC Financial Services Group 8,000 $1.7M Reduce -33.3% V Visa Inc. Class A 4,760 $1.7M New BAC Bank of America Corp. filed as BANK AMERICA CORP 30,000 $1.6M Add +9.1% RJF Raymond James Financial Inc. 10,148 $1.6M Reduce -15.3% HBNC Horizon Bancorp Inc. 95,462 $1.6M Add +0.7% C Citigroup Inc. 13,500 $1.6M Reduce -22.9% TFC Truist Financial Corp. 32,000 $1.6M Reduce -42.1% FISI Financial Institutions Inc. 50,000 $1.6M No change FFBC First Financial Bancorp 60,000 $1.5M New WD Walker & Dunlop Inc. 24,800 $1.5M Add +175.6% TRV The Travelers Cos Inc. 5,000 $1.5M New HIG Hartford Insurance Group Inc. 9,000 $1.2M Reduce -61.7% UMBF Umb Financial Corp. 10,000 $1.2M Add +74.2% FULT Fulton Financial Corp. 57,509 $1.1M Reduce -8.8% NWBI Northwest Bancshares Inc. 90,000 $1.1M New GL Globe Life Inc. 7,500 $1.0M Add +179.6% ICE Intercontinental Exchange Inc. 4,900 $794K Reduce -57.9% PINNACLE FINL PARTNERS INC 7,500 $716K New TMHC Taylor Morrison Home Corp. 9,000 $530K Add +36.6% BPOP Popular Inc. 3,000 $374K Reduce -50.0% FAF First American Financial 5,000 $307K No change BKU Bankunited Inc. 5,000 $223K Reduce -80.0%
Options reported separately and not counted above: RSP puts ($211.6M), KRE puts ($17.8M), JPM puts ($7.2M), USB puts ($6.9M), ARCC puts ($6.1M), BIZD puts ($5.7M), RITM puts ($4.9M), CB puts ($3.9M), C puts ($3.5M), RF puts ($3.4M), HIG puts ($3.3M), BAC puts ($3.3M), and 16 more.
Portfolio Sells Q3 2025 → Q4 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 Q3 2025 % Of Portfolio Change To Portfolio ▲ GHLD Guild Holdings Co. Class A Sold out 0.00% −24.45 ESNT Essent Group Ltd. Sold out 0.00% −2.07 MA Mastercard Inc. Class A Sold out 0.00% −1.93 MTG Mgic Investment Corp. Sold out 0.00% −1.76 TROW T Rowe Price Group Inc. Sold out 0.00% −1.63 INVH Invitation Homes Inc. Sold out 0.00% −1.58 HBAN Huntington Bancshares Inc. Sold out 0.00% −1.57 FITB Fifth Third Bancorp Sold out 0.00% −1.46 HIG Hartford Insurance Group Inc. Reduce -61.7% 1.12% −1.29 MRSH Marsh & McLennan Cos Sold out 0.00% −1.25 NTRS Northern Trust Corp. Sold out 0.00% −1.18 ICE Intercontinental Exchange Inc. Reduce -57.9% 0.71% −0.79 SPGI S&P Global Inc. Reduce -46.7% 1.51% −0.74 BKU Bankunited Inc. Reduce -80.0% 0.20% −0.53 TFC Truist Financial Corp. Reduce -42.1% 1.42% −0.52 PB Prosperity Bancshares Inc. Sold out 0.00% −0.51 ALL Allstate Corp. Sold out 0.00% −0.49 CB Chubb Ltd. Reduce -40.0% 1.69% −0.48 PNC PNC Financial Services Group Reduce -33.3% 1.50% −0.35 BPOP Popular Inc. Reduce -50.0% 0.34% −0.25 JLL Jones Lang Lasalle Inc. Sold out 0.00% −0.24 RJF Raymond James Financial Inc. Reduce -15.3% 1.47% −0.12 BANC Banc of California Inc. Reduce -27.0% 12.60% −0.03 MFA Mfa Financial Inc. Reduce -15.8% 2.12% −0.00 C Citigroup Inc. Reduce -22.9% 1.42% +0.05 FULT Fulton Financial Corp. Reduce -8.8% 1.00% +0.10
Portfolio Buys Q3 2025 → Q4 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 Q3 2025 % Of Portfolio Change To Portfolio ▼ ARCC Ares Capital Corp. New 4.92% +4.92 BBT Beacon Financial Corp. Add +19.4% 12.94% +4.63 BIZD Vaneck BDC Income ETF New 3.50% +3.50 BXSL Blackstone Secured Lending F New 2.54% +2.54 JPM JPMorgan Chase & Co. Add +150.0% 3.63% +2.42 APO Apollo Global Management Inc. New 2.35% +2.35 BRO Brown & Brown Inc. New 2.02% +2.02 RITM Rithm Capital Corp. Add +54.9% 4.18% +1.78 RF Regions Financial Corp. Add +700.0% 1.95% +1.75 XLF SS Financial Select Sector New 1.69% +1.69 TOWN Towne Bank New 1.65% +1.65 ITB iShares U.S. Home Constructi New 1.61% +1.61 V Visa Inc. Class A New 1.50% +1.50 FFBC First Financial Bancorp New 1.35% +1.35 TRV The Travelers Cos Inc. New 1.31% +1.31 FNB FNB Corp. Add +68.0% 2.22% +1.16 SBSI Southside Bancshares Inc. Add +48.6% 2.34% +1.09 NWBI Northwest Bancshares Inc. New 0.97% +0.97 ONB Old National Bancorp Add +16.0% 2.91% +0.81 WD Walker & Dunlop Inc. Add +175.6% 1.34% +0.77 USB US Bancorp Add +11.1% 2.40% +0.73 BUSE First Busey Corp. Add +43.8% 1.54% +0.65 GL Globe Life Inc. Add +179.6% 0.94% +0.65 PINNACLE FINL PARTNERS INC New 0.64% +0.64 UMBF Umb Financial Corp. Add +74.2% 1.04% +0.51 WSBC Wesbanco Inc. Add +0.4% 2.40% +0.44 BAC Bank of America Corp. Add +9.1% 1.49% +0.40 HBNC Horizon Bancorp Inc. Add +0.7% 1.46% +0.29 TMHC Taylor Morrison Home Corp. Add +36.6% 0.48% +0.14
Options Activity Q3 2025 → Q4 2025 Security Type Change vs Q3 2025 Underlying Shares Value ▼ RSP Invesco S&P 500 Equal Weight put New 1,104,500 $211.6M SPY SS SPDR S&P 500 ETF Trust-US put Sold out 280,200 $186.7Mbefore exit KRE SS SPDR S&P Regional Bank put Reduce -8.3% 275,000 $17.8M JPM JPMorgan Chase & Co. put Add +50.0% 22,500 $7.2M USB US Bancorp put Add +85.7% 130,000 $6.9M ARCC Ares Capital Corp. put New 300,000 $6.1M BIZD Vaneck BDC Income ETF put New 400,000 $5.7M RITM Rithm Capital Corp. put Add +63.6% 450,000 $4.9M RF Regions Financial Corp. put New 125,000 $3.4M HIG Hartford Insurance Group Inc. put Reduce -20.0% 24,000 $3.3M BAC Bank of America Corp. put Add +20.0% 60,000 $3.3M BXSL Blackstone Secured Lending F put New 125,000 $3.3M XLF SS Financial Select Sector put New 60,000 $3.3M ICE Intercontinental Exchange Inc. put Add +60.0% 20,000 $3.2M MTG Mgic Investment Corp. put Sold out 113,000 $3.2Mbefore exit TRV The Travelers Cos Inc. put New 11,000 $3.2M BRO Brown & Brown Inc. put New 40,000 $3.2M ESNT Essent Group Ltd. put Sold out 50,000 $3.2Mbefore exit MRSH Marsh & McLennan Cos put Sold out 15,000 $3.0Mbefore exit V Visa Inc. Class A put New 8,500 $3.0M INVH Invitation Homes Inc. put Sold out 100,000 $2.9Mbefore exit APO Apollo Global Management Inc. put New 20,000 $2.9M MA Mastercard Inc. Class A put Sold out 5,000 $2.8Mbefore exit GL Globe Life Inc. put New 20,000 $2.8M NTRS Northern Trust Corp. put Sold out 20,000 $2.7Mbefore exit ALL Allstate Corp. put Sold out 12,500 $2.7Mbefore exit FITB Fifth Third Bancorp put Sold out 60,000 $2.7Mbefore exit HBAN Huntington Bancshares Inc. put Sold out 150,000 $2.6Mbefore exit TROW T Rowe Price Group Inc. put Sold out 25,000 $2.6Mbefore exit TFC Truist Financial Corp. put Reduce -28.6% 50,000 $2.5M MFA Mfa Financial Inc. put Reduce -16.7% 250,000 $2.3M FAF First American Financial put Sold out 30,000 $1.9Mbefore exit ITB iShares U.S. Home Constructi put New 20,000 $1.9M WD Walker & Dunlop Inc. put Add +50.0% 30,000 $1.8M PINNACLE FINL PARTNERS INC put New 15,000 $1.4M
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