UBS, a perennial first placer, has done it again. The firm topped the manager activity rankings for both agency and non-agency MBS, according to the final results from Thomson Financial's league tables for the first quarter of 2004. This happened after UBS bagged the top spot for the 2003 RMBS leagues.

UBS was first with $21.97 billion in proceeds, leaving a wide gap between UBS and its closest competitor with a whopping 17.8% market share. However, UBS had been dipping in the fourth quarter, in the No. 4 spot with a 10.2% market share and $13.14 billion in proceeds.

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