SCHEDULE: Picton Mahoney Discloses 8.31% Stake in Rithm Capital Preferred Stock

Picton Mahoney Asset Management has reported beneficial ownership of 831,464 shares, representing 8.31% of the outstanding 8.750% Series F Fixed-Rate Reset Cumulative Redeemable Preferred Stock of Rithm Capital Corp.

Summary

• Picton Mahoney Asset Management has filed a Schedule 13G, indicating their beneficial ownership of Rithm Capital Corp.'s 8.750% Series F Fixed-Rate Reset Cumulative Redeemable Preferred Stock.
• The filing states that Picton Mahoney Asset Management beneficially owns 831,464 shares of this preferred stock.
• This ownership stake represents 8.31% of the total outstanding shares of this specific preferred stock class.
• The filing is based on information as of March 31, 2026, with the percentage calculated using 10,000,000 preferred shares outstanding, as sourced from Bloomberg.
• Picton Mahoney Asset Management has sole voting power and sole dispositive power over these shares.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it is a routine disclosure of beneficial ownership by an investment manager and does not inherently signal positive or negative performance for the issuer.

Positives

• Picton Mahoney Asset Management has taken a significant stake in Rithm Capital's preferred stock, suggesting confidence in the company's financial stability and dividend-paying capacity.
• The ownership of 8.31% indicates a substantial investment by a professional asset manager.

Negatives

• The filing does not contain any negative information regarding Rithm Capital Corp. itself, as it is a disclosure of ownership by an external entity.

Risks

• The primary risk associated with preferred stock is interest rate sensitivity; if market interest rates rise significantly, the fixed-rate nature of this preferred stock could become less attractive, potentially impacting its market value.
• As a preferred stock, it carries less appreciation potential than common stock and is subordinate to debt holders in the event of bankruptcy.

Future Outlook

This filing is a disclosure of current ownership and does not contain forward-looking statements or guidance from Rithm Capital Corp. regarding its future performance.

Industry Context

StockSavvy.ai notes that significant institutional investment in preferred stock, such as this filing by Picton Mahoney Asset Management, often signals a search for stable income streams and capital preservation within the financial services sector, especially in environments with fluctuating interest rates.

Comparison to Industry Standards

• The 8.31% stake by Picton Mahoney Asset Management is a substantial holding for a single institutional investor in a specific preferred stock series. For context, typical institutional holdings in preferred stock can range from less than 1% to over 10%, depending on the size of the issue and the investor's strategy. This level of ownership suggests a strategic allocation by Picton Mahoney.
• The 8.750% fixed-rate reset coupon is competitive within the current preferred stock market, though specific comparisons would require analysis of other similar issuances from entities like Blackstone, Apollo Global Management, or KKR, which also have significant real estate and financial services operations.

Stakeholder Impact

• Shareholders of Rithm Capital Corp.'s 8.750% Series F Fixed-Rate Reset Cumulative Redeemable Preferred Stock: The filing confirms a significant institutional investor, which may provide some stability to the stock's trading.
• Potential Investors: The disclosure may attract other investors looking at preferred stock with substantial institutional backing.
• Creditors of Rithm Capital Corp.: The preferred stock is subordinate to debt, so this filing does not directly impact creditors' claims but reflects the company's capital structure.

Next Steps

• Picton Mahoney Asset Management will continue to monitor its investment in Rithm Capital Corp.'s preferred stock.
• Rithm Capital Corp. will continue its operations as disclosed in its other filings.

Key Dates

Keywords

Rithm Capital Corp., Picton Mahoney Asset Management, Schedule 13G, Preferred Stock, Beneficial Ownership, Investment, SEC Filing, 8.750% Series F Fixed-Rate Reset Cumulative Redeemable Preferred Stock, CUSIP 64828T888