EMG Holdings, L.P.

CIK

1478394

Location

OLD GREENWICH, CT

Portfolio Value

Small $345,679,446

Diversification

Highly concentrated

Filing Date

Global Rank

#3,192 / 8,622 ▲ 2773 · as of Mar 2026

Top Industry

REIT - Mortgage 43.3%

3Y Alpha vs SPY

-6.8%

Period ended 4 months ago

Filed May 19, 2026 · 2mo

19 quarters · since Sep 2021

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Not a measure of this manager's performance. Most of EMG Holdings, L.P.'s reported book is option positions, which a stock-only clone cannot replicate. The figures below are the return of the 42% that is ordinary stock — as little as 20% in one quarter — so a manager whose options thesis lost money can still show a large gain here.

Cloned portfolio

+43.8%

SPY

+67.9%

Annualised alpha

-6.0%

Max drawdown

−20.3%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 42% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

19 tracked positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

77.1%

+55.9 pts

Top 5

87.5%

+26.4 pts

Top 10

94.3%

+14.9 pts

HHI

5,994

Highly concentrated+4,955

Portfolio Trend

19 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Unclassified	77.1%	$266,639,400	1
Real Estate	14.6%	$50,439,353	8
Consumer Cyclical	4.0%	$13,690,637	4
Financial Services	3.2%	$11,013,056	5
Industrials	1.1%	$3,897,000	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

7 positions

Ticker	Company	Δ Shares	Shares	Value
SPY	Spdr S&P 500 ETF Trust	+380,000	410,000	$266,639,400
PFSI	PennyMac Financial Services, Inc.	+45,727	65,727	$5,744,539
CCS	Century Communities, Inc.	+42,464	56,285	$3,229,633
MHO	M/I Homes, Inc.	+20,171	47,700	$5,840,865
CPT	Camden Property Trust	+16,476	55,176	$5,388,488
MAA	Mid America Apartment Communities Inc.	+10,000	34,800	$4,249,776
NVR	Nvr Inc	+23	273	$1,799,023
No positions match the current search.

Trimmed

Positions the filer reduced

2 positions

Ticker	Company	Δ Shares	Shares	Value
MFA	Mfa Financial, Inc.	−81,000	638,478	$6,116,619
FND	Floor & Decor Holdings, Inc.	−18,137	40,000	$2,032,000
No positions match the current search.

New Positions

Positions the filer opened this quarter

6 positions

Ticker	Company	Shares	Value
RITM	Rithm Capital Corp.	1,300,000	$12,324,000
DX	Dynex Capital Inc	345,000	$4,402,200
KBH	Kb Home	77,657	$4,018,749
FBIN	Fortune Brands Innovations, Inc.	100,000	$3,897,000
ESNT	Essent Group Ltd.	60,000	$3,506,400
COMP	Compass, Inc.	456,987	$3,340,574
No positions match the current search.

Sold Out

Positions the filer fully exited

10 positions

Ticker	Company	Shares	Value
DHI	Horton D R Inc /De/	100,000	$14,403,000
RDN	Radian Group Inc	120,000	$4,318,800
CVCO	Cavco Industries, Inc.	5,043	$2,979,101
MAS	Masco Corp /De/	45,000	$2,855,700
OC	Owens Corning	24,893	$2,785,775
SKY	Champion Homes, Inc.	31,829	$2,689,550
TREX	Trex Co Inc	60,000	$2,104,800
TMHC	Taylor Morrison Home Corp	30,000	$1,766,100
LEGH	Legacy Housing Corp	17,524	$342,068
MBC	MasterBrand, Inc.	10,566	$116,648
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

19 tracked positions · $345,679,446 total · filing declares 27 positions · $396,597,210 · as of Mar 31, 2026

All sectors Consumer Cyclical Financial Services Industrials Real Estate

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
SPY	Spdr S&P 500 ETF Trust PUT CALL	Added	410,000	+380,000	$266,639,400	+1203.4%	77.13%
RITM	Rithm Capital Corp. CALL + SHARES Real Estate	NEW	1,300,000	NEW	$12,324,000	NEW	3.57%
EFC	Ellington Financial Inc. Real Estate	Held	961,018	0	$11,388,063	−12.7%	3.29%
MFA	Mfa Financial, Inc. Real Estate	Reduced	638,478	-81,000	$6,116,619	−8.7%	1.77%
MHO	M/I Homes, Inc. Consumer Cyclical	Added	47,700	+20,171	$5,840,865	+65.8%	1.69%
PFSI	PennyMac Financial Services, Inc. Financial Services	Added	65,727	+45,727	$5,744,539	+117.9%	1.66%
CPT	Camden Property Trust Real Estate	Added	55,176	+16,476	$5,388,488	+26.5%	1.56%
DX	Dynex Capital Inc Real Estate	NEW	345,000	NEW	$4,402,200	NEW	1.27%
MAA	Mid America Apartment Communities Inc. Real Estate	Added	34,800	+10,000	$4,249,776	+23.4%	1.23%
KBH	Kb Home Consumer Cyclical	NEW	77,657	NEW	$4,018,749	NEW	1.16%
FBIN	Fortune Brands Innovations, Inc. Industrials	NEW	100,000	NEW	$3,897,000	NEW	1.13%
ESNT	Essent Group Ltd. Financial Services	NEW	60,000	NEW	$3,506,400	NEW	1.01%
COMP	Compass, Inc. CALL + SHARES Real Estate	NEW	456,987	NEW	$3,340,574	NEW	0.97%
CCS	Century Communities, Inc. Real Estate	Added	56,285	+42,464	$3,229,633	+293.7%	0.93%
FND	Floor & Decor Holdings, Inc. Consumer Cyclical	Reduced	40,000	-18,137	$2,032,000	−42.6%	0.59%
NVR	Nvr Inc Consumer Cyclical	Added	273	+23	$1,799,023	−1.3%	0.52%
EARN	Ellington Credit Co Financial Services	Held	149,086	0	$660,450	−15.9%	0.19%
OPRT	Oportun Financial Corp Financial Services	Held	139,172	0	$641,582	−12.9%	0.19%
BLNE	Beeline Holdings, Inc. Financial Services	Held	195,781	0	$460,085	+36.6%	0.13%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.