TWO HARBORS INVESTMENT CORP.(TWO)Stock Analysis
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Pending next ranking run
This company passes all size and coverage filters but hasn't been included in the latest quarterly ranking run. Rankings refresh on Jan 1, Apr 1, Jul 1, Oct 1.
Financial data, filings, and institutional holdings below are still tracked in full — only the proprietary quality composite is unavailable for this name.
TWO Stock Analysis & AI Quality Score
AI stock analysis and institutional research for TWO HARBORS INVESTMENT CORP. (TWO), a Real Estate sector company. TWO is not currently included in 13F Pro's AI-ranked quality universe — this company passes all size and coverage filters but hasn't been included in the latest quarterly ranking run. rankings refresh on jan 1, apr 1, jul 1, oct 1. Based on the latest XBRL financial filings (Q1 2026), TWO HARBORS INVESTMENT CORP. reports net income of $32.3M, free cash flow of $56.6M. Top institutional holders of TWO by reported 13-F value include BlackRock,, VANGUARD PORTFOLIO MANAGEMENT, BALYASNY ASSET MANAGEMENT L.P., based on the most recent SEC filings. TWO trades on the NYSE exchange and files with the SEC under CIK 1465740. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate TWO daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for TWO HARBORS INVESTMENT CORP. directly from SEC EDGAR.
Net Income
Q1 2026
$32.3M
Free Cash Flow
Q1 2026
$56.6M
ROIC
Q1 2026
0.4%
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · Pro+Net Income
-148.3% YoYEPS (Diluted)
-175.1% YoYTotal Assets
-2.4% YoYOp. Cash Flow
-44.9% YoY| Metric | FY 2023 | FY 2022 | FY 2021 | FY 2019 | FY 2017 | FY 2012 |
|---|---|---|---|---|---|---|
| Net Income | $-106.4M -148.3% | $220.2M +17.6% | $187.2M -42.2% | $324.0M -7.1% | $348.6M | — |
| EPS (Diluted) | $-1.60 -175.1% | $2.13 +395.3% | $0.43 +84.9% | $0.23 -48.6% | $0.45 +201.9% | $0.15 |
| Total Assets | $13.14B -2.4% | $13.47B +11.2% | $12.11B -66.3% | $35.92B +44.9% | $24.79B +47.4% | $16.81B |
| Operating Cash Flow | $343.5M -44.9% | $623.4M +47.2% | $423.5M -59.9% | $1.06B +74.1% | $606.8M +274.1% | $162.2M |
AI Insight: TWO Financial Trends
TWO's net income remains deeply volatile, swinging from -$326M in Q4 2025 to +$32M in Q1 2026, while total debt has declined ~$1.9B from its Q2 2025 peak.
• Total debt fell from $10,176M in Q2 2025 to $8,286M in Q1 2026, a reduction of roughly $1.9B over three quarters.
• Net income has swung between -$326M and +$537M across eight quarters, with no sustained positive trend.
• Operating cash flow turned sharply negative at -$239M in Q3 2025 before recovering to $117M in Q4 2025 and $57M in Q1 2026.
⚠ Net income of -$326M in Q4 2025 was the worst in the observable period — monitor whether Q1 2026's $32M recovery is durable.
⚠ Debt ticked up slightly from $8,431M in Q3 2025 to $8,557M in Q4 2025 before declining again — watch for re-leveraging risk.
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Available Research
13F Pro tracks comprehensive data for TWO HARBORS INVESTMENT CORP. including:
Top Institutional Holders of TWO
BlackRock, Inc.
$189.2M16,566,640 shVANGUARD PORTFOLIO MANAGEMENT LLC
$69.9M6,119,894 shBALYASNY ASSET MANAGEMENT L.P.
$56.3M4,929,421 shVANGUARD CAPITAL MANAGEMENT LLC
$53.1M4,651,280 shSTATE STREET CORP
$44.9M3,934,529 shSand Grove Capital Management LLP
$35.3M3,094,787 shGEODE CAPITAL MANAGEMENT, LLC
$28.3M2,479,129 shMILLENNIUM MANAGEMENT LLC
$24.3M2,125,337 shAQR Arbitrage LLC
$23.1M2,021,084 shInvesco Ltd.
$22.3M1,955,820 sh
| Fund | Value | Shares |
|---|---|---|
| BlackRock, Inc. | $189.2M | 16,566,640 |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $69.9M | 6,119,894 |
| BALYASNY ASSET MANAGEMENT L.P. | $56.3M | 4,929,421 |
| VANGUARD CAPITAL MANAGEMENT LLC | $53.1M | 4,651,280 |
| STATE STREET CORP | $44.9M | 3,934,529 |
| Sand Grove Capital Management LLP | $35.3M | 3,094,787 |
| GEODE CAPITAL MANAGEMENT, LLC | $28.3M | 2,479,129 |
| MILLENNIUM MANAGEMENT LLC | $24.3M | 2,125,337 |
| AQR Arbitrage LLC | $23.1M | 2,021,084 |
| Invesco Ltd. | $22.3M | 1,955,820 |
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Popular Research
Is TWO a good stock to buy?
13F Pro's AI-powered analysis of TWO HARBORS INVESTMENT CORP. (TWO) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Real Estate sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for TWO are available on the TWO stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.
Which hedge funds own TWO?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling TWO. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of TWO HARBORS INVESTMENT CORP.'s investment landscape.