EMG Holdings, L.P.

CIK 0001478394 · Q2 2026

13F Equity AUM

$125.2M

-68.4% QoQ

Positions

-3 QoQ

AUM Rank

#9,838

Top 78%

Skill Alpha (FF)

-4.4%/yr^ns

No Clear Edge

Rank #7,500 · Top 90%

vs S&P -11.7%/yr (unadj.)

Quarters Tracked

~5 years

Portfolio Concentration

Top 5: 55.1%Top 10: 83.4%Top 20: 99.8%

SPY14.9%

BKLN13.7%

EFCUSD12.2%

AMH7.2%

HD7.0%

PFSI7.0%

TLT6.9%

INVH6.8%

PMT5.2%

CCS2.5%

Others (11)16.6%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services49.3%

Real Estate37.3%

Consumer Cyclical11.3%

Other2.1%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 21Median: 2.52%Avg: 4.76%

0–0.5%

1(0.2%)

0.5–1%

2(1.2%)

1–3%

9(17.8%)

3–5%

0(0.0%)

5%+

9(80.9%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 21vs 20 funds

0%Low

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New9Increased2Decreased7Exited12

New Positions

AMH7.2%

+270K

HD7.0%

+25K

TLT6.9%

+100K

INVH6.8%

+280K

PMT5.2%

+572K

RKT2.5%

+200K

OC1.9%

+15K

FAF1.6%

+30K

RDN1.5%

+50K

Increased

EFCUSD12.2%

+162K(+17%)

PFSI7.0%

+34K(+52%)

Decreased

SPY14.9%

-385,000(-94%)

MFA2.5%

-321,351(-50%)

CPT1.9%

-35,000(-63%)

MHO1.7%

-34,357(-72%)

MAA1.6%

-20,000(-57%)

CCS2.5%

-12,224(-22%)

OPRT0.6%

-100(-0%)

Exited

-100,000

-1,300,000

-50,000

-345,000

-77,657

-100,000

-60,000

-85,300

-456,987

-40,000

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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