| 1 | NLY | Annaly Capital Management, Inc. | 19.51% |
| 2 | AGNC | AGNC Investment Corp. | 13.96% |
| 3 | STWD | Starwood Property Trust, Inc. | 11.35% |
| 4 | RITM | Rithm Capital Corp. | 4.83% |
| 5 | BXMT | Blackstone Mortgage Trust, Inc. | 4.78% |
| 6 | ABR | Arbor Realty Trust, Inc. | 4.46% |
| 7 | ARI | Apollo Commercial Real Estate Finance, Inc. | 3.21% |
| 8 | TWO | Two Harbors Investment Corp. | 2.92% |
| 9 | LADR | Ladder Capital Corp | 2.85% |
| 10 | EFC | Ellington Financial Inc. | 2.69% |
| 11 | PMT | PennyMac Mortgage Investment Trust | 2.62% |
| 12 | DX | Dynex Capital, Inc. | 2.47% |
| 13 | CIM | Chimera Investment Corporation | 2.45% |
| 14 | MFA | MFA Financial, Inc. | 2.30% |
| 15 | ARR | ARMOUR Residential REIT, Inc. | 2.23% |
| 16 | FBRT | Franklin BSP Realty Trust, Inc. | 2.22% |
| 17 | RWT | Redwood Trust, Inc. | 1.82% |
| 18 | BRSP | BrightSpire Capital, Inc. | 1.62% |
| 19 | RC | Ready Capital Corporation | 1.60% |
| 20 | NYMT | New York Mortgage Trust, Inc. | 1.45% |
| 21 | ORC | Orchid Island Capital, Inc. | 1.33% |
| 22 | KREF | KKR Real Estate Finance Trust Inc. | 1.32% |
| 23 | TRTX | TPG RE Finance Trust, Inc. | 1.11% |
| 24 | IVR | Invesco Mortgage Capital Inc. | 1.09% |
| 25 | ACRE | Ares Commercial Real Estate Corporation | 0.62% |
| View REM holdings |