Q2 2026 13F · SEC CIK 1478394
EMG Holdings, L.P.
Hedge fundFiled 2026-08-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗
- Reported 13F value
- $60.0M
- Reported positions
- 15
- Top holdings a year, 3 yrs
- +9.9%
- Average holding period
- 1.9 yrs
EMG Holdings, L.P. is a hedge fund that reported 15 positions worth $60.0M in its Q2 2026 13F, filed 2026-08-14. Its largest holdings were Ellington Financial Inc (EFC, 25.5%), American Homes 4 Rent (AMH, 15.1%), Invitation Homes Inc (INVH, 14.1%). A portfolio copying its top holdings returned 9.9% a year over the last 3 years, against 22.3% for the S&P 500.
EMG Holdings, L.P. holdings all 15 positions.
Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.
| Stock | % of 13F value | Share change | Reported value |
|---|---|---|---|
| EFCEllington Financial Inc | 25.5% | +16.9% | $15.3M |
| AMHAmerican Homes 4 Rent | 15.1% | — | $9.1M |
| INVHInvitation Homes Inc | 14.1% | — | $8.5M |
| PMTPennyMac Mortgage Investment Trust | 10.8% | — | $6.5M |
| CCSCentury Communities Inc | 5.3% | -21.7% | $3.2M |
| MFAMFA Financial Inc. | 5.1% | -50.3% | $3.1M |
| OCOwens Corning New | 4.0% | — | $2.4M |
| CPTCamden Ppty Tr | 3.9% | -63.4% | $2.3M |
| MHOM/i Homes Inc | 3.6% | -72.0% | $2.1M |
| FAFFirst American Financial | 3.4% | — | $2.1M |
| MAAMid-Amer Apt Cmntys Inc | 3.4% | -57.5% | $2.1M |
| RDNRadian Group Inc | 3.1% | — | $1.9M |
| OPRTOportun Finl Corp | 1.3% | -0.1% | $794K |
| EARNEllington Credit Company | 1.1% | +0.0% | $659K |
| BLNEBeeline Holdings Inc | 0.4% | +0.0% | $239K |
What EMG Holdings, L.P. bought and sold in Q2 2026, against Q1 2026.
New positions
- AMH American Homes 4 Rent15.1% of 13F
- INVH Invitation Homes Inc14.1% of 13F
- PMT PennyMac Mortgage Investment Trust10.8% of 13F
- OC Owens Corning New4.0% of 13F
- FAF First American Financial3.4% of 13F
- RDN Radian Group Inc3.1% of 13F
Added to
- EFC Ellington Financial Inc+16.9% shares
Reduced
- MHO M/i Homes Inc-72.0% shares
- CPT Camden Ppty Tr-63.4% shares
- MAA Mid-Amer Apt Cmntys Inc-57.5% shares
- MFA MFA Financial Inc.-50.3% shares
- CCS Century Communities Inc-21.7% shares
Sold out
- PFSI Pennymac Finl Svcs Inc Newwas 8.4%
- DX Dynex Capital Incwas 6.5%
- KBH Kb Homewas 5.9%
- FBHS Fortune Brands Innovations Iwas 5.7%
- ESNT Essent Group Ltd Comwas 5.1%
- RITM Rithm Capital Corpwas 4.2%
- FND Floor & Decor Hldgs Incwas 3.0%
- COMP Compass Incwas 2.8%
Share counts compared with the Q1 2026 13F; a split also changes share counts.
How the holdings did against the S&P 500.
- 1 year
- -8.6% /yr
- S&P 500 +11.7%
- 3 years
- +9.9% /yr
- S&P 500 +22.3%
- 5 years
- +0.3% /yr
- S&P 500 +10.2%
A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.
Reported 13F value by quarter.
| Quarter | 13F value | Positions |
|---|---|---|
| Q2 2026 | $60.0M | 15 |
| Q1 2026 | $68.1M | 18 |
| Q4 2025 | $61.6M | 21 |
| Q3 2025 | $92.8M | 17 |
| Q2 2025 | $77.1M | 16 |
| Q1 2025 | $82.5M | 17 |
| Q4 2024 | $71.6M | 19 |
| Q3 2024 | $69.1M | 19 |
| Q2 2024 | $84.9M | 22 |
| Q1 2024 | $91.1M | 18 |
| Q4 2023 | $106.9M | 38 |
| Q3 2023 | $120.1M | 44 |
Questions about EMG Holdings, L.P.'s portfolio
What stocks does EMG Holdings, L.P. own?
EMG Holdings, L.P.'s latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 15 positions worth $60.0M. The largest are Ellington Financial Inc (EFC) at 25.5%, American Homes 4 Rent (AMH) at 15.1%, Invitation Homes Inc (INVH) at 14.1%, PennyMac Mortgage Investment Trust (PMT) at 10.8% and Century Communities Inc (CCS) at 5.3%.
What did EMG Holdings, L.P. buy last quarter?
In Q2 2026, EMG Holdings, L.P. added a new position in American Homes 4 Rent (AMH), a new position in Invitation Homes Inc (INVH), a new position in PennyMac Mortgage Investment Trust (PMT), a new position in Owens Corning New (OC), a new position in First American Financial (FAF) and Ellington Financial Inc (EFC) (+16.9% shares), compared with its Q1 2026 filing.
What did EMG Holdings, L.P. sell last quarter?
In Q2 2026, EMG Holdings, L.P. sold all of Pennymac Finl Svcs Inc New (PFSI), sold all of Dynex Capital Inc (DX), sold all of Kb Home (KBH), sold all of Fortune Brands Innovations I (FBHS), sold all of Essent Group Ltd Com (ESNT), M/i Homes Inc (MHO) (-72.0% shares), Camden Ppty Tr (CPT) (-63.4% shares) and Mid-Amer Apt Cmntys Inc (MAA) (-57.5% shares), compared with its Q1 2026 filing.
How has EMG Holdings, L.P.'s portfolio performed?
A portfolio copying EMG Holdings, L.P.'s 20 largest 13F holdings each quarter, from the day each filing was public, returned +9.9% a year over the last 3 years, against +22.3% for the S&P 500. Over 1 year: -8.6% against +11.7%. Over 5 years: +0.3% a year against +10.2%.
When is EMG Holdings, L.P.'s next 13F filing due?
13F filings are due 45 days after each quarter ends. EMG Holdings, L.P.'s filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.