EMG Holdings, L.P.
Follow13F filer, CIK 1478394, OLD GREENWICH, CT
EMG Holdings, L.P. reported $207,826,464 across 26 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-14. Its ten largest share positions make up 89.74% of the portfolio.
Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001085146-25-003161
- Period
- 2025-03-31
- Reported value
- $208M
- Holdings
- 26
- Top 10 weight
- 89.74%
- New
- 9
- Sold out
- 9
Largest buys vs the previous quarter
| Security | Shares change | Approx. value |
|---|---|---|
| MTHnew | +141,977 | $10.1M |
| PFSInew | +64,580 | $6.47M |
| MFAadded | +389,954 | $4M |
| TMHCadded | +65,827 | $3.95M |
| SGIadded | +48,000 | $2.87M |
Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.
Largest sells vs the previous quarter
| Security | Shares change | Approx. value |
|---|---|---|
| ADAMexited | -726,121 | -$4.4M |
| ESNTexited | -66,773 | -$3.64M |
| MBCexited | -196,082 | -$2.86M |
| ARHSexited | -294,719 | -$2.77M |
| OPRTreduced | -484,051 | -$2.66M |
Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.
Holdings, Q1 2025
Share positions as resolved from 13F-HR 0001085146-25-003161, largest first. % of portfolio is the value over $83,462,314, the sum of the share positions whose value is usable for ratios (method).
| Security | History | Shares | Value | % of portfolio | Change | Latest event | Timeline |
|---|---|---|---|---|---|---|---|
| EFCELLINGTON FINANCIAL INC | 927,141 | $12.3M | 14.73% | 0 | Timeline | ||
| MR COOPER GROUP INCMR COOPER GROUP INC | 96,896 | $11.6M | 13.89% | +9,384 | |||
| MTHMERITAGE HOMES CORP | 141,977 | $10.1M | 12.06% | new | Timeline | ||
| TMHCTAYLOR MORRISON HOME CORP | 165,000 | $9.91M | 11.87% | +65,827 | Timeline | ||
| PFSIPENNYMAC FINL SVCS INC NEW | 64,580 | $6.47M | 7.75% | new | Timeline | ||
| MFAMFA FINL INC | 608,054 | $6.24M | 7.47% | +389,954 | Timeline | ||
| SGISOMNIGROUP INTERNATIONAL INC | 98,000 | $5.87M | 7.03% | +48,000 | Timeline | ||
| FAFFIRST AMERN FINL CORP | 85,000 | $5.58M | 6.68% | +15,018 | Timeline | ||
| OCOWENS CORNING NEW | 31,359 | $4.48M | 5.37% | +4,359 | Timeline | ||
| RKTROCKET COS INC | 200,000 | $2.41M | 2.89% | -20,748 | Timeline | ||
| HYGISHARES TR | 27,776 | $2.19M | 2.63% | 0 | Timeline | ||
| TOLTOLL BROTHERS INC | 19,971 | $2.11M | 2.53% | -3,029 | Timeline | ||
| EARNELLINGTON CREDIT COMPANY | 149,086 | $807K | 0.97% | 0 | Timeline | ||
| OPRTOPORTUN FINL CORP | 139,172 | $764K | 0.92% | -484,051 | Timeline | ||
| Rithm Property Trust IncRithm Property Trust Inc | 263,635 | $757K | 0.91% | -883,652 | |||
| LGIHLGI HOMES INC | 8,852 | $588K | 0.7% | new | Timeline | ||
| BLNEBEELINE HOLDINGS INC | 195,780 | $360K | 0.43% | new | Timeline |
Options
Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).
| Security | Type | Amount | Value | Change |
|---|---|---|---|---|
| LQDISHARES TR SHS | put | 390,000 | $42.4M | new |
| LOWLOWES COS INC COM | put | 100,000 | $23.3M | new |
| XLFSELECT SECTOR SPDR TR SHS | put | 300,000 | $14.9M | new |
| AGNCAGNC INVT CORP REIT | put | 1,500,000 | $14.4M | new |
| CCLCARNIVAL CORP Stock | put | 580,000 | $11.3M | 0 |
| HDHOME DEPOT INC COM | put | 30,000 | $11M | new |
| AALAMERICAN AIRLINES GROUP INC Stock | put | 400,000 | $4.22M | 0 |
| SPYSTATE STR SPDR S&P 500 ETF T SHS | put | 5,000 | $2.8M | -70,000 |
Principal amounts
Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).
| Security | Type | Amount | Value | Change |
|---|---|---|---|---|
| PENNYMAC CORPPENNYMAC CORP NOTE 5.500% 3/1 | principal | 1,000,000 | $991K | 0 |
Sold out in Q1 2025
Positions in the previous quarter's report that this quarter's report no longer lists.
| Security | Shares before | Value before | Type |
|---|---|---|---|
| NCLHNORWEGIAN CRUISE LINE HLDGS | 850,000 | $21.9M | put |
| ECHOECHOSTAR CORP | 300,000 | $6.87M | put |
| ADAMADAMAS TRUST INC. | 726,121 | $4.4M | shares |
| ESNTESSENT GROUP LTD | 66,773 | $3.64M | shares |
| MBCMASTERBRAND INC | 196,082 | $2.86M | shares |
| ARHSARHAUS INC | 294,719 | $2.77M | shares |
| UWMCUWM HOLDINGS CORPORATION | 442,448 | $2.6M | shares |
| TOLTOLL BROTHERS INC | 12,500 | $1.57M | call |
| IVRINVESCO MORTGAGE CAPITAL INC | 150,817 | $1.21M | shares |
How Q1 2025 was built
Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).
| Filing | Role | Amendment | Filed | Accepted | Ingested |
|---|---|---|---|---|---|
| 13F-HR 0001085146-25-003161 | base | 2025-05-14 | acceptance time not in the bulk data set |