| 1 | NLY | Annaly Capital Management, Inc. | 19.46% |
| 2 | AGNC | AGNC Investment Corp. | 14.26% |
| 3 | STWD | Starwood Property Trust, Inc. | 11.59% |
| 4 | RITM | Rithm Capital Corp. | 4.85% |
| 5 | BXMT | Blackstone Mortgage Trust, Inc. | 4.69% |
| 6 | ABR | Arbor Realty Trust, Inc. | 4.02% |
| 7 | ARI | Apollo Commercial Real Estate Finance, Inc. | 3.29% |
| 8 | LADR | Ladder Capital Corp | 2.87% |
| 9 | EFC | Ellington Financial Inc. | 2.65% |
| 10 | TWO | Two Harbors Investment Corp. | 2.63% |
| 11 | CIM | Chimera Investment Corporation | 2.59% |
| 12 | PMT | PennyMac Mortgage Investment Trust | 2.56% |
| 13 | DX | Dynex Capital, Inc. | 2.44% |
| 14 | MFA | MFA Financial, Inc. | 2.31% |
| 15 | ARR | ARMOUR Residential REIT, Inc. | 2.22% |
| 16 | FBRT | Franklin BSP Realty Trust, Inc. | 2.16% |
| 17 | RWT | Redwood Trust, Inc. | 1.75% |
| 18 | RC | Ready Capital Corporation | 1.66% |
| 19 | BRSP | BrightSpire Capital, Inc. | 1.60% |
| 20 | NYMT | New York Mortgage Trust, Inc. | 1.43% |
| 21 | ORC | Orchid Island Capital, Inc. | 1.31% |
| 22 | KREF | KKR Real Estate Finance Trust Inc. | 1.27% |
| 23 | IVR | Invesco Mortgage Capital Inc. | 1.10% |
| 24 | TRTX | TPG RE Finance Trust, Inc. | 1.10% |
| 25 | ACRE | Ares Commercial Real Estate Corporation | 0.60% |
| View REM holdings |