What is the 13F Pro Quality Score for TWO?

13F Pro ranks TWO HARBORS INVESTMENT CORP. (TWO) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View TWO's current score at https://13fpro.ai/research/TWO (free sign-up required for the full ranking).

Where does 13F Pro source TWO data?

All TWO HARBORS INVESTMENT CORP. fundamentals and ownership data come directly from SEC EDGAR. TWO HARBORS INVESTMENT CORP. files with the SEC under CIK 1465740. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is TWO in?

TWO HARBORS INVESTMENT CORP. (TWO) is classified in the Real Estate sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/real-estate.

How often is TWO research updated on 13F Pro?

TWO's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

TWO HARBORS INVESTMENT CORP.(TWO)Stock Analysis

AI analysis on 2,800+ stocks →Deep AI analysis on 2,800+ stocks →

Real Estate →NYSE

Institutional-grade research for retail investors

SEC EDGAR: CIK 1465740 TWO stock profile & AI dashboard →

13F Pro Quality Score

Not in ranked universe

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% YoY

$-106.4MFY 2023

FY19 $324.0MFY21 $187.2MFY22 $220.2MFY23 $-106.4M

EPS (Diluted)

-175.1% YoY

$-1.60FY 2023

FY19 $0.23FY21 $0.43FY22 $2.13FY23 $-1.60

Total Assets

-2.4% YoY

$13.14BFY 2023

FY19 $35.92BFY21 $12.11BFY22 $13.47BFY23 $13.14B

Op. Cash Flow

-44.9% YoY

$343.5MFY 2023

FY19 $1.06BFY21 $423.5MFY22 $623.4MFY23 $343.5M

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.

AI Insight: TWO Ratio Trends

TWO Harbors shows faint ROIC recovery to 1.8% in Q1 2026, but ROA remains deeply erratic with no sustained positive trend.

• ROA swung from -12.0% in Q4 2025 to 1.2% in Q1 2026, but has oscillated between -9.2% and 17.6% over the past five quarters.

• ROIC improved from -10.1% in Q2 2025 to 1.8% in Q1 2026, marking the first positive reading in at least four quarters.

• TTM ROA stands at -3.3% and ROIC at -4.0%, confirming that on a trailing basis capital is being destroyed, not created.

⚠ ROA and ROIC remain highly volatile quarter-to-quarter; one positive print in Q1 2026 does not confirm a durable inflection.

⚠ OpMargin, NPM, ROE, and D/E are entirely absent — insufficient data to assess leverage or earnings quality.

Get alerted when TWO's score changes

Free account: watchlist tracking, the daily AI brief, and the AI screener.

Passwordless sign-in · Payments by Stripe · Auth by Clerk

Available Research

13F Pro tracks comprehensive data for TWO HARBORS INVESTMENT CORP. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of TWO

BlackRock, Inc.
$189.2M16,566,640 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$69.9M6,119,894 sh
BALYASNY ASSET MANAGEMENT L.P.
$56.3M4,929,421 sh
VANGUARD CAPITAL MANAGEMENT LLC
$53.1M4,651,280 sh
STATE STREET CORP
$44.9M3,934,529 sh
Sand Grove Capital Management LLP
$35.3M3,094,787 sh
GEODE CAPITAL MANAGEMENT, LLC
$28.3M2,479,129 sh
MILLENNIUM MANAGEMENT LLC
$24.3M2,125,337 sh
AQR Arbitrage LLC
$23.1M2,021,084 sh
Invesco 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

More Real Estate Companies

View all Real Estate →

AAT

American Assets Trust, Inc.

ABR

ARBOR REALTY TRUST INC

ACR

ACRES Commercial Realty Corp.

ACRE

Ares Commercial Real Estate Corp

ADAM

ADAMAS TRUST, INC.

ADC

AGREE REALTY CORP

AEI

Alset Inc.

AGNC

AGNC Investment Corp.

Put TWO on your watchlist

Track score changes the day TWO HARBORS INVESTMENT CORP. files with the SEC, follow the hedge funds that own it, screen 2,800+ AI-scored stocks, and get the daily brief — free.

View Pricing

Free tier includes 13F data, economic indicators, and market overview. Pro starts at $6.67/mo (billed annually).

Passwordless sign-in · Payments by Stripe · Auth by Clerk

Popular Research

AAPL

Apple

MSFT

Microsoft

NVDA

NVIDIA

GOOG

Alphabet

AMZN

Amazon

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.