MFA Financial Loses Former 5% Holder as Vaughan Nelson Reports Zero Shares

Rhea-AI Filing Summary

Schedule 13G/A (Amendment 1) shows that institutional investor Vaughan Nelson Investment Management, L.P. and its general partner have fully exited their position in MFA Financial (MFA) common stock as of 30 Jun 2025. Both entities now report 0 shares held, equating to 0 % of the outstanding class, with no voting or dispositive power remaining.

The filing is made under Rule 13d-1(b) because Vaughan Nelson is registered as an investment adviser (IA) and its parent is classified as a holding company (HC). Certification states the shares were held in the ordinary course of business and not for the purpose of influencing control. By falling below the 5 % threshold, the filer is obliged to disclose its reduced ownership and may have satisfied its future reporting requirements unless it re-accumulates shares.

Key implications: the departure of a former 5 %+ passive holder modestly reduces MFA’s institutional ownership base. However, there is no indication of activist intent, control issues, or direct operational impact on the issuer.

Positive

• None.

Negative

• Institutional exit: Vaughan Nelson reduced its ownership from above the 5 % reporting threshold to 0 %, eliminating a prior sizable passive shareholder.

Insights

Financial Analyst

TL;DR Vaughan Nelson has sold its entire MFA stake; loss of a prior 5 % holder is modestly negative for sentiment but not operationally material.

Complete divestiture to 0 % removes a meaningful institutional supporter from MFA’s shareholder roster. While 13G filers are passive, their presence can bolster liquidity and perceived stability. Exit may reflect portfolio rebalancing or strategic view on mortgage REIT sector risk. No price or transaction data are supplied, so impact on valuation is hard to quantify, but reduced institutional ownership can slightly widen bid-ask spreads and elevate volatility. Overall, the disclosure skews mildly negative for equity demand yet lacks evidence of fundamental deterioration at MFA.

Corporate Governance Expert

TL;DR Governance impact neutral; departure eliminates any single passive block, leaving MFA’s control structure unchanged.

The filing confirms Vaughan Nelson neither sought control nor retains influence after divestiture; all voting and dispositive powers are zero. From a governance standpoint, MFA’s board and management face no new ownership concentration risks. The absence of an activist agenda and maintenance of free float support stable governance dynamics, yielding a neutral governance assessment.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

MFA Financial, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

55272X607

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 55272X607

1

Names of Reporting Persons

Vaughan Nelson Investment Management, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 55272X607

1

Names of Reporting Persons

Vaughan Nelson Investment Management, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: MFA Financial, Inc.
(b)	Address of issuer's principal executive offices: One Vanderbilt Avenue, 48th Floor, New York, New York, 10017
Item 2.
(a)	Name of person filing: Vaughan Nelson Investment Management, L.P. ("Vaughan Nelson") Vaughan Nelson Investment Management, Inc. ("General Partner")
(b)	Address or principal business office or, if none, residence: Both Vaughan Nelson and the General Partner maintain their principal offices at: 600 Travis Street, Suite 3800 Houston, Texas 77002
(c)	Citizenship: Vaughan Nelson is a Delaware limited partnership. The General Partner is a Delaware corporation.
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 55272X607
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 0
(b)	Percent of class: 0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Vaughan Nelson Investment Management, L.P.

Signature:	/s/ Carlos Gonzalez
Name/Title:	Carlos Gonzalez, Chief Compliance Officer
Date:	07/22/2025

Vaughan Nelson Investment Management, Inc.

Signature:	/s/ Carlos Gonzalez
Name/Title:	Carlos Gonzalez, Chief Compliance Officer
Date:	07/22/2025

Exhibit Information

Exhibit 1 - Joint Filing Agreement

FAQ

Why did Vaughan Nelson file a Schedule 13G/A on MFA?

Because its ownership dropped below the 5 % threshold, triggering an amendment to disclose the change per SEC Rule 13d-1(b).

How many MFA Financial shares does Vaughan Nelson now hold?

0 shares; the firm reports no voting or dispositive power.

What percentage of MFA’s common stock does Vaughan Nelson own after the filing?

The filing states 0 % of the outstanding class.

When was the ownership change effective?

The event date requiring the filing is 30 June 2025.

Does the filing indicate any intent to influence MFA’s control?

No. Certifications affirm the shares were held in the ordinary course and not for control or activist purposes.