EMG

Ellington Management Group Portfolio holdings

AUM $332M

2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2

This Quarter Return

+0.55%

1 Year Return

+9.2%

3 Year Return

-0.66%

5 Year Return

+32.41%

10 Year Return

–

AUM

$273M

AUM Growth

+$273M (+86%)

Cap. Flow

+$88.8M

Cap. Flow % of AUM

32.57%

Top 10 Holdings % Top 10 Hldgs %

55.22%

Holding

177

New

124

Increased

Reduced

Closed

Top Buys

1	AGNC Investment AGNC	$10M
2	Essent Group ESNT	$5.7M
3	MGIC Investment MTG	$5.59M
4	AAC.U Ares Acquisition Corporation Units, each consisting of one Class A ordinary share, and one-fifth of one redeemable warrant AAC.U	$5M
5	VPCC.U VPC Impact Acquisition Holdings III, Inc. Units, each consisting of one share of Class A common stoc VPCC.U	$4.94M

Top Sells

1	Annaly Capital Management NLY	$17.4M
2	NYMT New York Mortgage Trust NYMT	$8.57M
3	MFA MFA Financial MFA	$3.76M
4	American Axle AXL	$3.49M
5	Devon Energy DVN	$2.96M

Sector Composition

1	Real Estate	16.28%
2	Financials	7.63%
3	Energy	1.68%
4	Consumer Discretionary	0.97%
5	Healthcare	0.56%

Communication Services

Advertising Agencies

Broadcasting

Electronic Gaming & Multimedia

Entertainment

Internet Content & Information

Publishing

Telecom Services

Consumer Discretionary

Apparel Manufacturing

Apparel Retail

Auto Manufacturers

Auto Parts

Auto & Truck Dealerships

Department Stores

Footwear & Accessories

Furnishings, Fixtures & Appliances

Gambling

Home Improvement Retail

Internet Retail

Leisure

Lodging

Luxury Goods

Packaging & Containers

Personal Services

Recreational Vehicles

Residential Construction

Resorts & Casinos

Restaurants

Specialty Retail

Textile Manufacturing

Travel Services

Consumer Staples

Beverages - Brewers

Beverages - Non-Alcoholic

Beverages - Wineries & Distilleries

Confectioners

Discount Stores

Education & Training Services

Farm Products

Food Distribution

Grocery Stores

Household & Personal Products

Packaged Foods

Tobacco

Energy

Oil & Gas Drilling

Oil & Gas Equipment & Services

Oil & Gas Exploration & Production

Oil & Gas Integrated

Oil & Gas Midstream

Oil & Gas Refining & Marketing

Thermal Coal

Uranium

Financials

Asset Management

Banks - Diversified

Banks - Regional

Capital Markets

Credit Services

Diversified Insurance

Financial Conglomerates

Financial Data & Stock Exchanges

Insurance Brokers

Life Insurance

Mortgage Finance

Property & Casualty Insurance

Reinsurance

Shell Companies

Specialty - Insurance

Healthcare

Biotechnology

Diagnostics & Research

Drug Manufacturers - General

Drug Manufacturers - Specialty & Generic

Healthcare Plans

Health Information Services

Medical Care Facilities

Medical Devices

Medical Distribution

Medical Instruments & Supplies

Pharmaceutical Retailers

Industrials

Aerospace & Defense

Airlines

Airports & Air Services

Building Products & Equipment

Business Equipment & Supplies

Conglomerates

Consulting Services

Electrical Equipment & Parts

Engineering & Construction

Farm & Heavy Construction Machinery

Industrial Distribution

Infrastructure Operations

Integrated Freight & Logistics

Marine Shipping

Metal Fabrication

Pollution & Treatment Controls

Railroads

Rental & Leasing Services

Security & Protection Services

Specialty Business Services

Specialty Industrial Machinery

Staffing & Employment Services

Tools & Accessories

Trucking

Waste Management

Materials

Agricultural Inputs

Aluminum

Building Materials

Chemicals

Coking Coal

Copper

Gold

Lumber & Wood Production

Other Industrial Metals & Mining

Other Precious Metals & Mining

Paper & Paper Products

Silver

Specialty Chemicals

Steel

Real Estate

Diversified REIT

Healthcare Facilities REIT

Hotel & Motel REIT

Industrial REIT

Mortgage REIT

Office REIT

Real Estate Development

Real Estate Diversified

Real Estate Services

Residential REIT

Retail REIT

Specialty REIT

Technology

Communication Equipment

Computer Hardware

Consumer Electronics

Electronic Components

Electronics & Computer Distribution

Information Technology Services

Scientific & Technical Instruments

Semiconductor Equipment & Materials

Semiconductors

Software - Application

Software - Infrastructure

Solar

Utilities

Diversified Utilities

Electric Utilities

Gas Utilities

Independent Power Producers

Renewable Electricity

Water Utilities

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
26	ACQRU 26 DELISTED Independence Holdings Corp. Units ACQRU	$1.8M	0.22%	+180,000	New	+$1.8M
27	KIIIU 27 DELISTED Kismet Acquisition Three Corp. Unit KIIIU	$1.59M	0.2%	+160,570	New	+$1.59M
28	DHCAU 28 DELISTED DHC Acquisition Corp. Unit DHCAU	$1.5M	0.18%	+150,000	New	+$1.5M
29	ANAC.U 29 DELISTED Arctos NorthStar Acquisition Corp. Units, each consisting of one Class A ordinary share, and one-fourth of one redeemable warrant ANAC.U	$1.5M	0.18%	+150,000	New	+$1.5M
30	KRNLU 30 DELISTED Kernel Group Holdings, Inc. Units KRNLU	$1.5M	0.18%	+150,000	New	+$1.5M
31	TMAC.U 31 DELISTED The Music Acquisition Corporation Units, each consisting of one share of Class A common stock and one-half of one redeemable warrant TMAC.U	$1.5M	0.18%	+150,000	New	+$1.5M
32	SCOBU 32 DELISTED ScION Tech Growth II Units SCOBU	$1.49M	0.18%	+150,000	New	+$1.49M
33	GAMCU 33 DELISTED Golden Arrow Merger Corp. Unit GAMCU	$1.49M	0.18%	+150,000	New	+$1.49M
34	TSPQ.U 34 DELISTED TCW Special Purpose Acquisition Corp. Units, each consisting of one share of Class A common stock and one-third of one redeemable warrant TSPQ.U	$1.49M	0.18%	+150,000	New	+$1.49M
35	TWNI.U 35 DELISTED Tailwind International Acquisition Corp. Units, each consisting of one Class A ordinary share and one-third of one redeemable warrant TWNI.U	$1.48M	0.18%	+150,000	New	+$1.48M
36	AGAC.U 36 DELISTED African Gold Acquisition Corporation Units, each consisting of one Class A ordinary share and three-quarters of one redeemable warrant AGAC.U	$1.48M	0.18%	+150,000	New	+$1.48M
37	FTEV.U 37 DELISTED FinTech Evolution Acquisition Group Units, each consisting of one Class A Ordinary Share, and one-third of one redeemable warrant FTEV.U	$1.48M	0.18%	+150,000	New	+$1.48M
38	HCIIU 38 DELISTED Hudson Executive Investment Corp. II Unit HCIIU	$1.47M	0.18%	+150,000	New	+$1.47M
39	QDROU 39 DELISTED Quadro Acquisition One Corp. Unit QDROU	$1.22M	0.15%	+123,100	New	+$1.22M
40	40 Kellanova K $27.6B	$1.1M	0.13%	+17,317	New	+$1.1M
41	41 Charter Communications CHTR $36.3B	$1.05M	0.13%	+1,706	New	+$1.05M
42	42 APA Corp APA $8.31B	$1.02M	0.13%	56,893 +15,243	+37%	+$273K
43	SRNGU 43 DELISTED Soaring Eagle Acquisition Corp. Unit SRNGU	$1.01M	0.12%	+100,000	New	+$1.01M
44	SPAQ.U 44 DELISTED Spartan Acquisition Corp. III Units, each consisting of one share of Class A common stock and one-fo SPAQ.U	$1M	0.12%	+100,000	New	+$1M
45	FACT.U 45 DELISTED Freedom Acquisition I Corp. Units, each consisting of one Class A ordinary share and one-fourth of one redeemable warrant FACT.U	$998K	0.12%	+100,000	New	+$998K
46	LOKM.U 46 DELISTED Live Oak Mobility Acquisition Corp. Units, each consisting of one share of Class A common stock, and one-fifth of one warrant LOKM.U	$998K	0.12%	+100,000	New	+$998K
47	ARRWU 47 DELISTED Arrowroot Acquisition Corp. Unit ARRWU	$995K	0.12%	+100,000	New	+$995K
48	CRZNU 48 DELISTED Corazon Capital V838 Monoceros Corp Unit CRZNU	$995K	0.12%	+100,000	New	+$995K
49	MACC.U 49 DELISTED Mission Advancement Corp. Units, each consisting of one share of Class A Common Stock and one-third of one Redeemable Warrant MACC.U	$995K	0.12%	+100,000	New	+$995K
50	ESM.U 50 DELISTED ESM Acquisition Corporation Units, each consisting of one Class A ordinary share and one-third of one redeemable warrant ESM.U	$994K	0.12%	+100,000	New	+$994K