EMG Holdings, L.P. Hedge Fund

Location: Old Greenwich, CT

CIK: 0001478394 · Show all filings

Period: Q1 2024 (← Previous) (Next →)

Filing Date: May 15, 2024

Total Value: $537M (99.2% shares, 0.8% debt)

Holdings (37)

HYG ISHARES TR 58.9%

Value $316M Shares 4,070,600 Est. Cost $73.94 Unrealized —

SPY SPDR S&P 500 ETF TR 5.4%

Value $28.77M Shares 55,000 Est. Cost — Unrealized —

IWM ISHARES TR 4.3%

Value $23.11M Shares 109,900 Est. Cost — Unrealized —

NCLH NORWEGIAN CRUISE LINE HLDG L 3.3%

Value $17.79M Shares 850,000 Est. Cost — Unrealized —

EFC ELLINGTON FINANCIAL INC 2.0%

Value $10.95M Shares 927,141 Est. Cost $18.25 Unrealized —

MFA MFA FINL INC 2.0%

Value $10.65M Shares 933,611 Est. Cost $9.61 Unrealized —

CCL CARNIVAL CORP 1.8%

Value $9.477M Shares 580,000 Est. Cost — Unrealized —

NLY ANNALY CAPITAL MANAGEMENT IN 1.7%

Value $9.098M Shares 462,085 Est. Cost $19.69 Unrealized —

Z ZILLOW GROUP INC 1.4%

Value $7.561M Shares 155,000 Est. Cost $54.45 Unrealized 0.0%

— GREAT AJAX CORP 1.4%

Value $7.374M Shares 1,940,649 Est. Cost $6.26 Unrealized —

BZH BEAZER HOMES USA INC 1.3%

Value $7.188M Shares 219,141 Est. Cost $28.59 Unrealized +8.2%

Z ZILLOW GROUP INC 1.3%

Value $6.758M Shares 138,547 Est. Cost $54.45 Unrealized 0.0%

MTH MERITAGE HOMES CORP 1.2%

Value $6.276M Shares 35,766 Est. Cost $74.91 Unrealized +8.0%

AAL AMERICAN AIRLS GROUP INC 1.1%

Value $6.14M Shares 400,000 Est. Cost — Unrealized —

HD HOME DEPOT INC 1.1%

Value $5.754M Shares 15,000 Est. Cost — Unrealized —

HYG ISHARES TR 1.1%

Value $5.655M Shares 72,758 Est. Cost $73.94 Unrealized —

OPRT OPORTUN FINL CORP 1.0%

Value $5.37M Shares 2,209,900 Est. Cost $5.53 Unrealized -34.6%

SOFI SOFI TECHNOLOGIES INC 0.9%

Value $4.876M Shares 668,000 Est. Cost — Unrealized —

AMC AMC ENTMT HLDGS INC 0.9%

Value $4.873M Shares 1,310,000 Est. Cost — Unrealized —

AMWD AMERICAN WOODMARK CORPORATIO 0.9%

Value $4.709M Shares 46,320 Est. Cost $94.21 Unrealized 0.0%

BLDR BUILDERS FIRSTSOURCE INC 0.9%

Value $4.692M Shares 22,500 Est. Cost $184.81 Unrealized 0.0%

KSS KOHLS CORP 0.8%

Value $4.372M Shares 150,000 Est. Cost — Unrealized —

SATS ECHOSTAR CORP 0.8%

Value $4.275M Shares 300,000 Est. Cost — Unrealized —

ADAM NEW YORK MTG TR INC 0.8%

Value $4.24M Shares 588,879 Est. Cost $8.92 Unrealized —

MAS MASCO CORP 0.7%

Value $3.944M Shares 50,000 Est. Cost — Unrealized —

— VROOM INC 0.5%

Value $2.922M Shares 5,700,000 Est. Cost $0.36 Unrealized —

PFSI PENNYMAC FINL SVCS INC NEW 0.5%

Value $2.831M Shares 31,081 Est. Cost $85.32 Unrealized 0.0%

LEN LENNAR CORP 0.4%

Value $2.064M Shares 12,000 Est. Cost $146.27 Unrealized 0.0%

DHI D R HORTON INC 0.4%

Value $1.975M Shares 12,000 Est. Cost — Unrealized —

— MR COOPER GROUP INC 0.3%

Value $1.796M Shares 23,042 Est. Cost $42.13 Unrealized —

TALO TALOS ENERGY INC 0.2%

Value $1.297M Shares 93,107 Est. Cost $13.05 Unrealized 0.0%

EARN ELLINGTON RESIDENTIAL MTG RE 0.2%

Value $1.03M Shares 149,086 Est. Cost $11.37 Unrealized —

— PENNYMAC CORP 0.2%

Value $953K Shares 1,000,000 Est. Cost $0.96 Unrealized —

LEN LENNAR CORP 0.2%

Value $860K Shares 5,000 Est. Cost $146.27 Unrealized 0.0%

ENVA ENOVA INTL INC 0.1%

Value $628K Shares 10,000 Est. Cost — Unrealized —

— PENNYMAC CORP 0.1%

Value $493K Shares 500,000 Est. Cost $0.98 Unrealized —

MITT AG MTG INVT TR INC 0.1%

Value $293K Shares 47,846 Est. Cost $9.90 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
HYG	ISHARES TR	4,070,600	$316M	58.9%	$73.94	—	Put	464288513
SPY	SPDR S&P 500 ETF TR	55,000	$28.77M	5.4%	—	—	Put	78462F103
IWM	ISHARES TR	109,900	$23.11M	4.3%	—	—	Put	464287655
NCLH	NORWEGIAN CRUISE LINE HLDG L	850,000	$17.79M	3.3%	—	—	Put	G66721104
EFC	ELLINGTON FINANCIAL INC	927,141	$10.95M	2.0%	$18.25	—	COM	28852N109
MFA	MFA FINL INC	933,611	$10.65M	2.0%	$9.61	—	COM	55272X607
CCL	CARNIVAL CORP	580,000	$9.477M	1.8%	—	—	Put	143658300
NLY	ANNALY CAPITAL MANAGEMENT IN	462,085	$9.098M	1.7%	$19.69	—	COM NEW	035710839
Z	ZILLOW GROUP INC	155,000	$7.561M	1.4%	$54.45	0.0%	Call	98954M200
—	GREAT AJAX CORP	1,940,649	$7.374M	1.4%	$6.26	—	COM	38983D300
BZH	BEAZER HOMES USA INC	219,141	$7.188M	1.3%	$28.59	+8.2%	COM NEW	07556Q881
Z	ZILLOW GROUP INC	138,547	$6.758M	1.3%	$54.45	0.0%	CL C CAP STK	98954M200
MTH	MERITAGE HOMES CORP	35,766	$6.276M	1.2%	$74.91	+8.0%	COM	59001A102
AAL	AMERICAN AIRLS GROUP INC	400,000	$6.14M	1.1%	—	—	Put	02376R102
HD	HOME DEPOT INC	15,000	$5.754M	1.1%	—	—	Put	437076102
HYG	ISHARES TR	72,758	$5.655M	1.1%	$73.94	—	IBOXX HI YD ETF	464288513
OPRT	OPORTUN FINL CORP	2,209,900	$5.37M	1.0%	$5.53	-34.6%	COM	68376D104
SOFI	SOFI TECHNOLOGIES INC	668,000	$4.876M	0.9%	—	—	Put	83406F102
AMC	AMC ENTMT HLDGS INC	1,310,000	$4.873M	0.9%	—	—	Put	00165C302
AMWD	AMERICAN WOODMARK CORPORATIO	46,320	$4.709M	0.9%	$94.21	0.0%	COM	030506109
BLDR	BUILDERS FIRSTSOURCE INC	22,500	$4.692M	0.9%	$184.81	0.0%	COM	12008R107
KSS	KOHLS CORP	150,000	$4.372M	0.8%	—	—	Put	500255104
SATS	ECHOSTAR CORP	300,000	$4.275M	0.8%	—	—	Put	278768106
ADAM	NEW YORK MTG TR INC	588,879	$4.24M	0.8%	$8.92	—	COM	649604840
MAS	MASCO CORP	50,000	$3.944M	0.7%	—	—	Put	574599106
—	VROOM INC	5,700,000	$2.922M	0.5%	$0.36	—	NOTE 0.750% 7/0	92918VAB5
PFSI	PENNYMAC FINL SVCS INC NEW	31,081	$2.831M	0.5%	$85.32	0.0%	COM	70932M107
LEN	LENNAR CORP	12,000	$2.064M	0.4%	$146.27	0.0%	Put	526057104
DHI	D R HORTON INC	12,000	$1.975M	0.4%	—	—	Put	23331A109
—	MR COOPER GROUP INC	23,042	$1.796M	0.3%	$42.13	—	COM	62482R107
TALO	TALOS ENERGY INC	93,107	$1.297M	0.2%	$13.05	0.0%	COM	87484T108
EARN	ELLINGTON RESIDENTIAL MTG RE	149,086	$1.03M	0.2%	$11.37	—	COM SHS BEN INT	288578107
—	PENNYMAC CORP	1,000,000	$953K	0.2%	$0.96	—	NOTE 5.500% 3/1	70932AAF0
LEN	LENNAR CORP	5,000	$860K	0.2%	$146.27	0.0%	CL A	526057104
ENVA	ENOVA INTL INC	10,000	$628K	0.1%	—	—	Put	29357K103
—	PENNYMAC CORP	500,000	$493K	0.1%	$0.98	—	NOTE 5.500%11/0	70932AAD5
MITT	AG MTG INVT TR INC	47,846	$293K	0.1%	$9.90	—	COM NEW	001228501