EMG Holdings, L.P. Hedge Fund

Location: Old Greenwich, CT

CIK: 0001478394 · Show all filings

Period: Q3 2025 (← Previous) (Next →)

Filing Date: Nov 14, 2025

Total Value: $266M (99.6% shares, 0.4% debt)

Holdings (26)

SPY SPDR S&P 500 ETF TR 25.0%

Value $66.62M Shares 100,000 Est. Cost — Unrealized —

IWM ISHARES TR 15.5%

Value $41.13M Shares 170,000 Est. Cost — Unrealized —

XLF SELECT SECTOR SPDR TR 10.1%

Value $26.93M Shares 500,000 Est. Cost — Unrealized —

CCL CARNIVAL CORP 6.3%

Value $16.77M Shares 580,000 Est. Cost — Unrealized —

SKY CHAMPION HOMES INC 4.9%

Value $12.97M Shares 169,895 Est. Cost $70.62 Unrealized 0.0%

EFC ELLINGTON FINANCIAL INC 4.7%

Value $12.47M Shares 961,018 Est. Cost $18.06 Unrealized —

ARR ARMOUR RESIDENTIAL REIT INC 4.0%

Value $10.67M Shares 714,416 Est. Cost $14.94 Unrealized —

MFA MFA FINL INC 3.7%

Value $9.76M Shares 1,062,035 Est. Cost $9.76 Unrealized —

DX DYNEX CAP INC 3.2%

Value $8.55M Shares 695,711 Est. Cost $12.29 Unrealized —

SKY CHAMPION HOMES INC 2.9%

Value $7.637M Shares 100,000 Est. Cost $70.62 Unrealized 0.0%

ARR ARMOUR RESIDENTIAL REIT INC 2.8%

Value $7.47M Shares 500,000 Est. Cost $14.94 Unrealized —

HYG ISHARES TR 2.5%

Value $6.785M Shares 83,566 Est. Cost $78.42 Unrealized —

PFSI PENNYMAC FINL SVCS INC NEW 2.4%

Value $6.458M Shares 52,132 Est. Cost $107.45 Unrealized 0.0%

TMHC TAYLOR MORRISON HOME CORP 2.0%

Value $5.281M Shares 80,000 Est. Cost $59.60 Unrealized +10.4%

AAL AMERICAN AIRLS GROUP INC 1.7%

Value $4.496M Shares 400,000 Est. Cost — Unrealized —

COMP COMPASS INC 1.4%

Value $3.7M Shares 460,802 Est. Cost $6.85 Unrealized +18.3%

UWMC UWM HOLDINGS CORPORATION 1.3%

Value $3.444M Shares 565,589 Est. Cost $4.40 Unrealized +19.3%

SGI SOMNIGROUP INTERNATIONAL INC 1.1%

Value $2.952M Shares 35,000 Est. Cost $78.80 Unrealized 0.0%

MHO M/I HOMES INC 1.0%

Value $2.572M Shares 17,810 Est. Cost $108.61 Unrealized +24.6%

LOW LOWES COS INC 0.9%

Value $2.513M Shares 10,000 Est. Cost $244.20 Unrealized 0.0%

MBC MASTERBRAND INC 0.8%

Value $2.174M Shares 165,100 Est. Cost $12.36 Unrealized 0.0%

INVH INVITATION HOMES INC 0.5%

Value $1.314M Shares 44,800 Est. Cost — Unrealized —

— PENNYMAC CORP 0.4%

Value $998K Shares 1,000,000 Est. Cost $0.96 Unrealized —

OPRT OPORTUN FINL CORP 0.3%

Value $859K Shares 139,172 Est. Cost $5.53 Unrealized +16.6%

EARN ELLINGTON CREDIT COMPANY 0.3%

Value $813K Shares 149,086 Est. Cost $11.37 Unrealized —

BLNE BEELINE HOLDINGS INC 0.3%

Value $775K Shares 195,780 Est. Cost $6.47 Unrealized -66.0%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SPY	SPDR S&P 500 ETF TR	100,000	$66.62M	25.0%	—	—	Put	78462F103
IWM	ISHARES TR	170,000	$41.13M	15.5%	—	—	Put	464287655
XLF	SELECT SECTOR SPDR TR	500,000	$26.93M	10.1%	—	—	Put	81369Y605
CCL	CARNIVAL CORP	580,000	$16.77M	6.3%	—	—	Put	143658300
SKY	CHAMPION HOMES INC	169,895	$12.97M	4.9%	$70.62	0.0%	COM	830830105
EFC	ELLINGTON FINANCIAL INC	961,018	$12.47M	4.7%	$18.06	—	COM	28852N109
ARR	ARMOUR RESIDENTIAL REIT INC	714,416	$10.67M	4.0%	$14.94	—	COM SHS	042315705
MFA	MFA FINL INC	1,062,035	$9.76M	3.7%	$9.76	—	COM	55272X607
DX	DYNEX CAP INC	695,711	$8.55M	3.2%	$12.29	—	COM	26817Q886
SKY	CHAMPION HOMES INC	100,000	$7.637M	2.9%	$70.62	0.0%	Call	830830105
ARR	ARMOUR RESIDENTIAL REIT INC	500,000	$7.47M	2.8%	$14.94	—	Call	042315705
HYG	ISHARES TR	83,566	$6.785M	2.5%	$78.42	—	IBOXX HI YD ETF	464288513
PFSI	PENNYMAC FINL SVCS INC NEW	52,132	$6.458M	2.4%	$107.45	0.0%	COM	70932M107
TMHC	TAYLOR MORRISON HOME CORP	80,000	$5.281M	2.0%	$59.60	+10.4%	COM	87724P106
AAL	AMERICAN AIRLS GROUP INC	400,000	$4.496M	1.7%	—	—	Put	02376R102
COMP	COMPASS INC	460,802	$3.7M	1.4%	$6.85	+18.3%	CL A	20464U100
UWMC	UWM HOLDINGS CORPORATION	565,589	$3.444M	1.3%	$4.40	+19.3%	COM CL A	91823B109
SGI	SOMNIGROUP INTERNATIONAL INC	35,000	$2.952M	1.1%	$78.80	0.0%	COM	88023U101
MHO	M/I HOMES INC	17,810	$2.572M	1.0%	$108.61	+24.6%	COM	55305B101
LOW	LOWES COS INC	10,000	$2.513M	0.9%	$244.20	0.0%	COM	548661107
MBC	MASTERBRAND INC	165,100	$2.174M	0.8%	$12.36	0.0%	COMMON STOCK	57638P104
INVH	INVITATION HOMES INC	44,800	$1.314M	0.5%	—	—	Call	46187W107
—	PENNYMAC CORP	1,000,000	$998K	0.4%	$0.96	—	NOTE 5.500% 3/1	70932AAF0
OPRT	OPORTUN FINL CORP	139,172	$859K	0.3%	$5.53	+16.6%	COM	68376D104
EARN	ELLINGTON CREDIT COMPANY	149,086	$813K	0.3%	$11.37	—	COM SHS BEN INT	288578107
BLNE	BEELINE HOLDINGS INC	195,780	$775K	0.3%	$6.47	-66.0%	COM NEW	277802500