UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 
_____________________________________________ 
FORM 11-K

(Mark One) 
x    ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
For the fiscal year ended December 31, 2021

or
 

o    TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 

For the transition period from                              to                             
 

Commission File Number: 1-13991
 


A. Full title of the plan and the address of the plan, if different from that of the issuer named below:

MFA FINANCIAL, INC. 401(k) SAVINGS PLAN


B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

MFA FINANCIAL, INC.
One Vanderbilt Ave., 48th Floor
New York, New York 10017





MFA FINANCIAL, INC. 401(K) SAVINGS PLAN
Financial Statements and Supplemental Schedule
(Unaudited)




TABLE OF CONTENTS

                                                







* Other supplemental schedules required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974, as amended, have been omitted because they are not applicable or not required.

MFA FINANCIAL, INC. 401(K) SAVINGS PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
(Unaudited)

December 31,
20212020
Assets
Investments at fair value:
Investments, at fair value$17,168,660 $14,884,950 
Cash equivalents including money market funds952,672 1,279,570 
Total Investments at fair value$18,121,332 $16,164,520 
Receivables:
Employer’s contributions$467,117 $464,925 
Notes receivable from participant loans118,739 185,146 
Total Receivables$585,856 $650,071 
Total Assets$18,707,188 $16,814,591 
Net Assets Available for Benefits$18,707,188 $16,814,591 


See accompanying notes to the financial statements.
1
MFA FINANCIAL, INC. 401(K) SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
(Unaudited)

For the year ended December 31, 2021
Additions to net assets:
Investment Income:
Interest and dividends$991,603 
Net appreciation in fair value of investments1,873,675 
Total investment income2,865,278 
Contributions:
Participant’s Contributions$824,646 
Employer’s Contributions467,117 
Total contributions1,291,763 
Interest on notes receivable from participants$8,323 
Total additions to net assets$4,165,364 
Deductions from net assets:
Benefits distributed to participants$2,268,306 
Administrative expenses4,461 
Total deductions from net assets$2,272,767 
Increase in net assets available for plan benefits$1,892,597 
Net assets available for benefits:
Beginning of year16,814,591 
End of year$18,707,188 


See accompanying notes to the financial statements.

2
MFA FINANCIAL, INC. 401(K) SAVINGS PLAN
Notes to the Unaudited Financial Statements
December 31, 2021


1. Description of the Plan

The following description of the MFA Financial, Inc. 401(k) Savings Plan (the “Plan”) provides only general information. Participants should refer to the Plan documents for a more complete description of the Plan’s provisions, a copy of which is available from MFA Financial, Inc. (the “Company”).

General

The Plan, which became effective January 1, 2002, is a defined contribution plan subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). The Plan is administered by the Company’s 401(k) committee (the “401(k) Committee”) with certain administrative functions of the Plan delegated to others in accordance with the terms of the Plan. The Plan’s investments are held by a trust fund administered by Fidelity Management Trust Company (the “Trustee”). In February 2017, the Company transferred the recordkeeping, trustee services and investment options for the Plan to the Trustee. Prior to that date, the Plan’s investments were self-directed and were held in a trust for which Morgan Stanley Smith Barney, LLC served as trustee.

Investment Funds, Contributions and Vesting

Under the terms of the Plan, all regular full-time and part-time employees of the Company who are 21 years of age 1) can make elective contributions to the Plan beginning as soon as practicable after the date of hire; and 2) are eligible to receive Company matching contributions.

Participants may elect to have a portion of their eligible compensation contributed to the Plan on a before-tax basis, up to the maximum deferral permitted under the Internal Revenue Code of 1986, as amended (the “Code”). For 2021, this limit was $19,500. Participants who are age 50 or older can make before-tax catch-up contributions to the Plan, the amount of which was limited to $6,500 per participant in 2021. Participants may change their deferral percentage as applicable at the beginning of each payroll period. Participant’s contributions may be invested in one or a combination of the various investment options offered by the Plan. A participant’s account balance may generally be transferred among the Plan’s investment options at any time upon receipt of instructions from the participant, except for certain limitations, including, but not limited to, the provisions of the Company’s Insider Trading Policy.

On an annual basis, the Company makes matching contributions in cash for each eligible participant in an amount equal to the addition of 1) 100% of the first 3% of an eligible participant’s compensation contributed to the Plan; and 2) 50% of the next 2% of the eligible participant’s compensation contributed to the Plan. Company matching contributions are subject to certain limitations imposed by applicable provisions of the Plan and the Code, including compliance with applicable statutory limits and non-discrimination rules. For 2021, the annual maximum employer matching contribution for each eligible participant was $11,600. Participants are immediately vested in their before-tax and Company matching contributions, as well as any investment earnings/losses thereon. During 2021, the Company made matching contributions of $464,925 with respect to eligible employee contributions made during 2020. In addition, on an annual basis, the Company at its discretion, may decide to make nonelective employer contributions to eligible participants in the Plan. The Plan provides that such contributions by the Company will vest 20% after two years of service with an additional 20% vesting for each year of service thereafter until the sixth year, at which time such contributions are fully vested. The nonelective employer contributions are automatically fully vested upon a participant’s termination due to retirement, death or disability, as defined in the Plan. The Company has not made any non-elective employer contributions during 2020 and 2021.

Participants are permitted to transfer eligible amounts from certain other tax qualified plans to the Plan (“Rollovers”), subject to Plan requirements. Rollovers are not subject to Company matching contributions.

The Plan provides for multiple investment options to be made available through the Trustee, including core investment options as determined by the 401(k) Committee, a group of target date options, an advisory asset management service and a self-directed brokerage option. In addition, the Plan document provides that the Company’s equity securities be offered as a core investment option, subject to compliance with ERISA. Contributions or Rollovers related to the Company’s common or preferred stock are also subject to the Company’s Insider Trading Policy. See Note 3 for Investment Options under the Plan.

3
MFA FINANCIAL, INC. 401(K) SAVINGS PLAN
Notes to the Unaudited Financial Statements
December 31, 2021

Notes Receivable from Participants (Loans)

The Plan includes a provision that allows participants to apply for a loan from their account balance for a minimum amount of $1,000 up to the lesser of 50% of the value of the vested portion of their Plan assets or $50,000, subject to the certain restrictions set forth in the Plan and the Code. The loans may be repaid through payroll deductions and may have loan terms ranging up to five years, or ten years if for the purchase of a primary residence. A participant may have only two loans outstanding at a time. The loans are secured by the balance in the participant’s account and bear interest at a fixed rate throughout the duration the loan of prime plus one percentage point. At December 31, 2021, loans outstanding to participants had interest rates ranging from 4.25% to 6.50% and will mature at various dates through January, 2031.

Distributions and Withdrawals

Participants are permitted to withdraw any portion of their vested account balance due to death, permanent disability, retirement, attainment of age 59-½, or in the event of financial hardship or termination of service. The participant may elect to receive a lump sum payment, installment payments, or rollover the vested account balance to another qualified plan. Hardship withdrawals are allowed for participants incurring an “immediate and heavy financial need,” as defined by the Plan. Hardship withdrawals are strictly regulated under the Code and the regulations thereunder, and a participant must exhaust all available loan options and available distributions prior to being permitted to make a hardship withdrawal.

Administrative Expenses

Plan administrative expenses, to the extent not paid by the Company, are charged to and paid from the Plan’s assets as incurred.

2. Summary of Significant Accounting Policies

Basis of Presentation

The accompanying financial statements have been prepared on the accrual basis of accounting in accordance with U.S. generally accepted accounting principles (“GAAP”).

Use of Estimates

The preparation of financial statements in conformity with GAAP requires the Plan’s management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes and schedule thereto. Actual results could differ from those estimates.

Cash Equivalents Including Money Market Funds

Participant investments in money market funds, whose underlying investments are assessed to be liquid financial instruments are considered to be cash equivalents.

Valuation of Investments and Investment Income

Investments held by the Plan are stated at estimated fair value. Equity securities are valued at the closing price reported on the market on which the individual securities are traded on the last business day of the Plan year. Investments in mutual funds are valued at the net asset value of units held by the Plan as reported by the mutual fund on the last business day of the Plan year. Other investments are valued using available information including information reported on the market on which such investments are traded, net asset value of the entity that issued the investment security or other information as deemed appropriate to use to estimate fair value.

The net appreciation or depreciation in the fair value of investments, which includes any unrealized appreciation or depreciation on those investments plus realized gains or losses on any investments sold, are reported in Investment Income on the Plan’s Statement of Changes in Net Assets Available for Benefits. Interest and dividend income is recorded when received.

4
MFA FINANCIAL, INC. 401(K) SAVINGS PLAN
Notes to the Unaudited Financial Statements
December 31, 2021

Distributions to Participants

Distributions to participants are recorded when paid by the Plan.

Notes Receivable from Participants

Notes receivable from participants (loans) are funded directly from the participants account balance. Repayments of principal and interest related to the loan are credited to the participant’s account on a pro-rata basis in accordance with their selected investment options.

3. Investment Options

The Plan provides participants with various investment options, which are exposed to various risks such as interest rate, market, and credit risks. Due to the level of risk associated with certain investments, it is at least reasonably possible that changes in the values of a participant’s investments could occur in the near term and that such changes could materially affect the account balances and the amounts reported in the Statements of Net Assets Available for Benefits.

In addition to the self-directed brokerage account option, set out below are the investment options made available under the Plan as of December 31, 2021:

Name of FundName of Fund
Fidelity 500 Index FundFidelity Freedom 2065 Fund
Fidelity Blue Chip Growth FundFidelity Freedom Income Fund
Fidelity Emerging Markets FundFidelity Global ex U.S. Index Fund
Fidelity Extended Market Index FundFidelity Government Money Market Fund
Fidelity Freedom 2005 FundFidelity Overseas Fund
Fidelity Freedom 2010 FundFidelity Small Cap Growth Fund
Fidelity Freedom 2015 FundFidelity Total Bond Fund
Fidelity Freedom 2020 FundFidelity U.S. Bond Index Fund
Fidelity Freedom 2025 FundFidelity Value Fund
Fidelity Freedom 2030 FundGoldman Sachs Inflation Protected Securities Fund Investor Shares
Fidelity Freedom 2035 FundInvesco Diversified Dividend Fund R5 Class
Fidelity Freedom 2040 FundJanus Henderson Enterprise Fund Class T
Fidelity Freedom 2045 FundMassMutual Premier Small Cap Opportunities Fund Administrative Class
Fidelity Freedom 2050 FundMFA Financial, Inc. Common Stock
Fidelity Freedom 2055 FundMFA Financial, Inc. Preferred Stock
Fidelity Freedom 2060 FundAllspring Special Small Cap Value Fund - Class Admin


4. Party-in-Interest Transactions

The Trustee and the Company are parties-in-interest with respect to the Plan. The Plan’s investments are held by the Trustee, and certain of the investment options available to participants include investments managed by the Trustee and its affiliates. Transactions between the Plan, and the Trustee and its affiliates, are exempt from the prohibited transactions rules under ERISA. As of December 31, 2021, participants in the Plan held 24,646 shares of MFA Financial, Inc. Common Stock valued at $450,589 and 6,784 shares of MFA Financial, Inc. 7.50% Series B Cumulative Redeemable Preferred Stock valued at $171,659. Notes Receivable from Participants, as discussed in Note 1 (Description of the Plan), are also considered to be party-in-interest transactions and totaled $118,739 at December 31, 2021.
5
MFA FINANCIAL, INC. 401(K) SAVINGS PLAN
Notes to the Unaudited Financial Statements
December 31, 2021


5. Plan Termination

Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. Each participant’s interest in the Plan is 100% vested at all times, including the portion attributable to Company matching contributions. In the event of Plan termination, any unvested nonelective employer contributions will become 100% vested and the Plan assets will be distributed in accordance with the Plan document.

6. Tax Status

The Plan has received a determination letter from the Internal Revenue Service (“IRS”) dated March 31, 2014, stating that the Plan is qualified under section 401(a) of the Code, and therefore, the related trust is exempt from taxation.

7. Subsequent Events

The Company has evaluated whether events or transactions have occurred after December 31, 2021 that would require recognition or disclosure in these financial statements through June 28, 2022, which is the date these financial statements were available to be issued. No such transactions required recognition or disclosure in these financial statements.




6
MFA FINANCIAL, INC. 401(k) SAVINGS PLAN
Schedule of Assets Held For Investment Purposes
December 31, 2021
(Unaudited)


Identity of Issue, Borrower, Lessor or Similar PartyDescription of
Investment Including
Maturity Date, Rate
of Interest, Collateral,
Par or Maturity Value		Current Value
Tesla, Inc. Common Stock, shares: 2,104$2,223,465 
*MFA Financial, Inc. Common Stock Common Stock, shares: 24,646450,589 
Apple Inc. Common Stock, shares: 2,495 443,189 
Amazon.com, Inc. Common Stock, shares: 75 250,076 
Facebook, Inc. Common Stock, shares: 545 183,311 
Square, Inc. Common Stock, shares: 615 99,329 
Royal Bank of Canada Common Stock, shares: 929 98,632 
AT&T Inc. Common Stock, shares: 2,597 63,903 
Microsoft Corporation Common Stock, shares: 188 63,429 
Verizon Communications Inc. Common Stock, shares: 1,203 62,527 
Spotify Technology S.A. Common Stock, shares: 200 46,806 
Advanced Micro Devices, Inc. Common Stock, shares: 292 42,019 
Camping World Holdings, Inc. Common Stock, shares: 1,000 40,400 
Deere & Company Common Stock, shares: 108 37,083 
Shift4 Payments Common Stock, shares: 639 37,017 
The Walt Disney Company Common Stock, shares: 233 36,195 
Mitek Systems, Inc Common Stock, shares: 1,587 28,169 
Union Pacific Corporation Common Stock, shares: 110 27,868 
Callaway Golf Company Common Stock, shares: 1,000 27,440 
Owens Corning Common Stock, shares: 300 27,150 
Alexander’s Inc. Common Stock, shares: 100 26,030 
Qualcomm Common Stock, shares: 136 24,882 
Alphabet Inc. Class A Common Stock, shares: 8 23,176 
Walmart Inc. Common Stock, shares: 160 23,160 
Royal Caribbean Cruises Ltd. Common Stock, shares: 261 20,071 
Fulgent Genetics Common Stock, shares: 199 20,017 
Target Corporation Common Stock, shares: 75 17,358 
Netflix, Inc. Common Stock, shares: 24 14,459 
Alibaba Group Holding Limited Common Stock, shares: 120 14,255 
Liberty Global Common Stock, shares: 500 14,045 
Apollo Commercial Real Estate Common Stock, shares: 988 13,002 
Dow Inc. Common Stock, shares: 223 12,675 
Coinbase Global, Inc. Common Stock, shares: 50 12,619 
Pubmatic, Inc. Common Stock, shares: 369 12,564 
Exxon Mobil Corporation Common Stock, shares: 204 12,507 
NeoPhotonics Corporation Common Stock, shares: 800 12,296 
IBM Common Stock, shares: 81 10,938 
Innovative Industrial Properties, Inc.  Common Stock, shares: 40 10,516 
Ellington Residential Mortgage Common Stock, shares: 1,000 10,390 
Redfin Common Stock, shares: 269 10,327 
Fannie Mae Common Stock, shares: 12,000 9,841 
7
MFA FINANCIAL, INC. 401(k) SAVINGS PLAN
Schedule of Assets Held For Investment Purposes
December 31, 2021
(Unaudited)


Identity of Issue, Borrower, Lessor or Similar PartyDescription of
Investment Including
Maturity Date, Rate
of Interest, Collateral,
Par or Maturity Value		Current Value
Dupont de Nemours, Inc. Common Stock, shares: 120 9,694 
Shopify Inc. Common Stock, shares: 7 9,642 
Live Oak Bancshares, Inc. Common Stock, shares: 100 8,751 
Alphabet Inc. Common Stock, shares: 3 8,681 
Twitter Common Stock, shares: 200 8,644 
FedEx Corporation Common Stock, shares: 30 7,960 
Axos Financial Common Stock, shares: 123 6,877 
DXC Technology Common Stock, shares: 200 6,438 
Occidental Petroleum Corporation Common Stock, shares: 220 6,387 
DigitalBridge Group, Inc. Common Stock, shares: 725 6,039 
APA Common Stock, shares: 218 5,885 
Corteva, Inc. Common Stock, shares: 120 5,674 
Fastly Common Stock, shares: 155 5,495 
DraftKings Common Stock, shares: 200 5,494 
Kohls Corp Nfs Llc Is A Special Common Stock, shares: 109 5,389 
Lumen Technologies, Inc. Common Stock, shares: 417 5,233 
AG Mortgage Investment Trust, Inc. Common Stock, shares: 510 5,228 
Hudson Pacific Properties Common Stock, shares: 209 5,184 
Salesforce.com Common Stock, shares: 20 5,083 
Snowflake Inc. Common Stock, shares: 15 5,081 
Green Dot Corporation Common Stock, shares: 139 5,037 
Wix.com Ltd Common Stock, shares: 30 4,734 
Joyy, Inc. Common Stock, shares: 100 4,543 
Rocket Companies Common Stock, shares: 323 4,533 
Gap Inc. Common Stock, shares: 252 4,454 
NVIDIA Corp. Common Stock, shares: 15 4,412 
Desktop Metal, Inc. Common Stock, shares: 856 4,237 
Lemonade, Inc. Common Stock, shares: 100 4,211 
Cabot Oil & Gas Corporation Common Stock, shares: 217 4,141 
Crowdstrike Holdings, Inc. Common Stock, shares: 20 4,095 
Peloton Interactive, Inc. Common Stock, shares: 110 3,934 
Biomerica, Inc. Common Stock, shares: 1,000 3,890 
PennyMac Mortgage Investment Trust Common Stock, shares: 215 3,726 
New Residential Investment Corp Common Stock, shares: 335 3,588 
Citigroup Inc. Common Stock, shares: 54 3,321 
Danaher Corp. Common Stock, shares: 10 3,290 
Annaly Capital Management Inc. Common Stock, shares: 419 3,277 
8
MFA FINANCIAL, INC. 401(k) SAVINGS PLAN
Schedule of Assets Held For Investment Purposes
December 31, 2021
(Unaudited)


Identity of Issue, Borrower, Lessor or Similar PartyDescription of
Investment Including
Maturity Date, Rate
of Interest, Collateral,
Par or Maturity Value		Current Value
Upstart Holdings, Inc. Common Stock, shares: 20 3,026 
Chimera Investment Corporation Common Stock, shares: 200 3,016 
Pulte Group, Inc. Common Stock, shares: 50 2,867 
Adobe Systems, Inc. Common Stock, shares: 5 2,835 
AGNC Investment Corporation Common Stock, shares: 160 2,406 
Two Harbors Investment Corp Common Stock, shares: 396 2,285 
Panasonic Corporation Common Stock, shares: 200 2,197 
Norwegian Cruise Line Holdings Common Stock, shares: 100 2,074 
The Honest Company, Inc. Common Stock, shares: 250 2,023 
AppHarvest, Inc. Common Stock, shares: 400 1,556 
New York Mortgage Trust Inc. Common Stock, shares: 380 1,414 
Invesco Mortgage Capital Common Stock, shares: 499 1,387 
RSA Inversiones y Representaciones S.A. Common Stock, shares: 270 1,150 
Transocean Ltd. Common Stock, shares: 392 1,082 
Cherry Hill Mortgage Investment Common Stock, shares: 117 968 
Blackstone Group Inc. Common Stock, shares: 6 776 
Virgin Galactic Common Stock, shares: 58 776 
Compass Pathways PLC Common Stock, shares: 33 729 
Boston Omaha Corporation Common Stock, shares: 23 661 
Curiosity Stream, Inc. Common Stock, shares: 100 593 
Arlington Asset Investment Corp. Common Stock, shares: 125 438 
Figs, Inc. Common Stock, shares: 14 392 
Overstock.com, Inc. Common Stock, shares: 5 294 
Kyndryl Holdings, Inc. Common Stock, shares: 16 289 
D-Market Electronic Services Trading Common Stock, shares: 150 286 
VTV Therapeutics, Inc. Common Stock, shares: 200 198 
Logan Ridge Finance Corporation Common Stock, shares: 6 137 
Impac Mortgage Holdings, Inc. Common Stock, shares: 10 10 
Seadrill Common Stock, shares: 3— 
Sub-Total$4,851,872 
*MFA Financial, Inc. Preferred Stock Series B Preferred Stock, shares: 6,784 $171,659 
Two Harbors Investment Corp Series A Preferred Stock, shares: 3,000 78,990 
Chimera Investment Corp Series B Preferred Stock, shares: 3,000 76,650 
New York Mortgage Trust Series E Preferred Stock, shares: 3,000 76,080 
Pennymac Mortgage Investment Preferred Stock, shares: 2,000 52,880 
New York Mortgage Trust Preferred Series G Preferred Stock, shares: 2,00049,600 
AG Mortgage Investment Trust Preferred Stock, shares: 2,00049,380 
New York Mortgage Trust Series D Preferred Stock, shares: 1,000 25,520 
Chimera Investment Corp Series D Preferred Stock, shares: 1,000 25,250 
Overstock.com, Inc. Preferred Stock Preferred Stock, shares: 400 18,800 
9
MFA FINANCIAL, INC. 401(k) SAVINGS PLAN
Schedule of Assets Held For Investment Purposes
December 31, 2021
(Unaudited)


Identity of Issue, Borrower, Lessor or Similar PartyDescription of
Investment Including
Maturity Date, Rate
of Interest, Collateral,
Par or Maturity Value		Current Value
Chimera Investment Corp Series A Preferred Stock, shares: 700 17,822 
Sub-Total$642,631 
*Fidelity 500 Index FundMutual Funds$1,440,180 
*Fidelity Freedom 2040 FundMutual Funds826,349 
*Fidelity Freedom 2030 FundMutual Funds751,944 
*Fidelity Freedom 2050 FundMutual Funds704,459 
*Fidelity Freedom 2045 FundMutual Funds680,034 
*Fidelity Blue Chip GrowthMutual Funds622,241 
American Growth Fund of America Class FMutual Funds482,739 
American New Perspective Class FMutual Funds459,743 
*Fidelity Freedom 2020Mutual Funds452,860 
American Europacific Growth Class FMutual Funds385,378 
*Fidelity Freedom 2055 FundMutual Funds304,907 
*Fidelity Freedom 2060 FundMutual Funds283,699 
*Fidelity Small Cap Growth FundMutual Funds268,581 
Virtus NFJ Mid Cap Value AMutual Funds236,203 
*Fidelity Equity IncomeMutual Funds201,504 
*Fidelity ContrafundMutual Funds198,310 
*Fidelity Freedom 2035 FundMutual Funds159,526 
Smead Value Fund Investor Cl SharesMutual Funds149,552 
*Fidelity Real Estate IncomeMutual Funds144,162 
*Fidelity Emerging Markets FundMutual Funds138,612 
*Fidelity Total Bond FundMutual Funds120,747 
*Fidelity U.S. Bond Index FundMutual Funds119,112 
*Fidelity Value FundMutual Funds118,152 
*Fidelity Extended Market Index FundMutual Funds117,031 
*Fidelity Low Priced StockMutual Funds98,193 
*Fidelity Mid Cap StockMutual Funds87,232 
*Fidelity Global Ex U.S. Index FundMutual Funds76,385 
Blackrock Commodity Strategies Fund Class AMutual Funds76,201 
*Janus Henderson Enterprise Fund Class TMutual Funds68,088 
*Goldman Sachs Inflation Protected Securities Fund Investor SharesMutual Funds60,974 
*Fidelity Overseas FundMutual Funds59,862 
*Invesco Diversified Dividend Fund R5 ClassMutual Funds58,794 
Invesco Equally Weighted S&P 500Mutual Funds56,323 
*Fidelity Large Cap Value Enhanced IndexMutual Funds53,248 
10
MFA FINANCIAL, INC. 401(k) SAVINGS PLAN
Schedule of Assets Held For Investment Purposes
December 31, 2021
(Unaudited)


Identity of Issue, Borrower, Lessor or Similar PartyDescription of
Investment Including
Maturity Date, Rate
of Interest, Collateral,
Par or Maturity Value		Current Value
*Fidelity Small Cap ValueMutual Funds52,008 
*Fidelity Freedom 2015 FundMutual Funds51,025 
*Fidelity Freedom 2025 FundMutual Funds40,629 
*Allspring Special Small Cap Value Fund - Class AdminMutual Funds37,238 
Growth Fund Of America Class AMutual Funds35,074 
New Perspective Class AMutual Funds30,210 
*Fidelity Select Medical Equipment & SystemsMutual Funds28,492 
Europacific Growth Class AMutual Funds19,291 
*Massmutual Premier Small Cap Opportunities Fund Administrative ClassMutual Funds19,034 
Baron Discovery Fund Institutional SharesMutual Funds10,825 
Baron Global Advantage Fund RetailMutual Funds8,010 
*Fidelity Select TechnologyMutual Funds3,249 
*Fidelity Select Software & ComputerMutual Funds3,119 
*Fidelity Freedom Income FundMutual Funds3,062 
Wasatch Micro-Cap Value FundMutual Funds2,919 
Wasatch Small Cap ValueMutual Funds2,904 
Lord Abbett Develop Growth Class AMutual Funds2,165 
Wasatch MicrocapMutual Funds1,249 
Morgan Stanley Global Opportunity AMutual Funds946 
Lord Abbett Micro Cap Growth Fund AMutual Funds926 
Morgan Stanley Institutional Fund Trust DiscoveryMutual Funds873 
Morgan Stanley Institutional Fund, Inc. Growth Portoflio Class AMutual Funds854 
Morgan Stanley Institutional Fund, Inc. Inception Portflio Class AMutual Funds712 
JPMorgan Income Builder Fund Class AMutual Funds24 
Sub-Total$10,416,163 
SPDR S&P 500 ETF TrustOther Investments$232,817 
SPDR Portfolio Total Stock MarketOther Investments216,385 
WisdomTree India Earnings FundOther Investments156,864 
Vanguard S&P 500 ETFOther Investments120,057 
Vanguard Extended Market ETFOther Investments91,430 
Invesco QQQ Trust, Series 1Other Investments86,026 
iShares MSCI India Small-Cap ETFOther Investments76,041 
SPDR Dow Jones Industrial Average ETFOther Investments36,332 
Vanguard Growth ETFOther Investments33,695 
iShares MSCI India ETFOther Investments25,285 
The Technology Sector SPDR FundOther Investments20,864 
Vanguard Information Technology ETFOther Investments20,618 
Vanguard Total Stock Market ETFOther Investments18,591 
Global X Robotics & Artificial Intelligence ETFOther Investments17,970 
11
MFA FINANCIAL, INC. 401(k) SAVINGS PLAN
Schedule of Assets Held For Investment Purposes
December 31, 2021
(Unaudited)


Identity of Issue, Borrower, Lessor or Similar PartyDescription of
Investment Including
Maturity Date, Rate
of Interest, Collateral,
Par or Maturity Value		Current Value
VanEck Vectors Semiconductor ETFOther Investments15,440 
iShares S&P 500 ETFOther Investments13,329 
Vaneck Vectors Vietnam ETFOther Investments12,744 
Vanguard S&P 500 Growth ETFOther Investments12,070 
SPDR S&P Semiconductor ETFOther Investments10,942 
iPath S&P GSCI Crude Oil Total Return Index ETNOther Investments9,462 
VanEck Vectors Oil Services ETFOther Investments9,242 
iShares Expanded Tech-Software Sector ETFOther Investments7,953 
Vanguard Energy ETFOther Investments7,761 
ARK Autonomous Technology & Robotics ETFOther Investments1,925 
ARK Innovation ETFOther Investments946 
ARK Space Exploration and Innovation ETFOther Investments943 
iShares MSCI Mexico ETFOther Investments902 
ARK Genomic Revolution ETFOther Investments612 
ARK Fintech Innovation ETFOther Investments409 
Occidental Petroleum Corporation - WarrantsOther Investments339 
Sub-Total$1,257,994 
*Fidelity Cash ReservesCash and cash equivalents$581,535 
*Fidelity Government Money Market FundCash and cash equivalents371,137 
Sub-Total$952,672 
* Participant LoansInterest Rate 4.25% - 6.50%
Maturity Dates through January, 2031		$118,739 
Grand Total$18,240,071 
* Indicates party-in-interest to the Plan.
12
SIGNATURE

 
Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the MFA Financial, Inc. 401(k) Savings Plan) have duly caused this annual report to be signed on its behalf by the undersigned, hereunto duly authorized.
 
Date: June 28, 2022MFA FINANCIAL, INC. 401(k) SAVINGS PLAN
 
By:/s/ Stephen D. Yarad
  Stephen D. Yarad
  Member
  MFA Financial, Inc. 401(k) Administration Committee

13
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