Q4 2025 Holdings
Filed 2026-02-17 | 27 holdings | $135.2M | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Ishares TR(IWM)Put | RUSSELL 2000 ETF | 464287655 | $24.6M | 100,000 | 18.2% |
| Spdr S&P 500 ETF TR(SPY)Put | TR UNIT | 78462F103 | $20.5M | 30,000 | 15.1% |
| D R Horton Inc(DHI)Put | COM | 23331A109 | $14.4M | 100,000 | 10.6% |
| Ellington Financial Inc(EFC) | COM | 28852N109 | $13.1M | 961,018 | 9.6% |
| Ishares TR(ITB)Put | US HOME CONS ETF | 464288752 | $9.6M | 100,000 | 7.1% |
| MFA Finl Inc(MFA) | COM | 55272X607 | $6.7M | 719,478 | 5.0% |
| Radian Group Inc(RDN) | COM | 750236101 | $4.3M | 120,000 | 3.2% |
| Camden Ppty TR(CPT) | SH BEN INT | 133131102 | $4.3M | 38,700 | 3.1% |
| Floor & Decor Hldgs Inc(FND) | CL A | 339750101 | $3.5M | 58,137 | 2.6% |
| M/I Homes Inc(MHO) | COM | 55305B101 | $3.5M | 27,529 | 2.6% |
| SSgA Active ETF TR(SRLN)Put | STATE STREET BLA | 78467V608 | $3.5M | 85,300 | 2.6% |
| Mid-Amer APT Cmntys Inc(MAA) | COM | 59522J103 | $3.4M | 24,800 | 2.5% |
| Cavco Inds Inc del(CVCO) | COM | 149568107 | $3.0M | 5,043 | 2.2% |
| Masco Corp(MAS) | COM | 574599106 | $2.9M | 45,000 | 2.1% |
| Owens Corning New(OC) | COM | 690742101 | $2.8M | 24,893 | 2.1% |
| Champion Homes Inc(SKY) | COM | 830830105 | $2.7M | 31,829 | 2.0% |
| Pennymac Finl Svcs Inc New(PFSI) | COM | 70932M107 | $2.6M | 20,000 | 1.9% |
| Trex Co Inc(TREX) | COM | 89531P105 | $2.1M | 60,000 | 1.6% |
| NVR Inc(NVR) | COM | 62944T105 | $1.8M | 250 | 1.3% |
| Taylor Morrison Home Corp(TMHC) | COM | 87724P106 | $1.8M | 30,000 | 1.3% |
| Pennymac Corp | NOTE 5.500% 3/1 | 70932AAF0 | $1.0M | $1,000,000 | 0.7% |
| Century Cmntys Inc(CCS) | COM | 156504300 | $820.3K | 13,821 | 0.6% |
| Ellington Credit Company(EARN) | COM SHS BEN INT | 288578107 | $785.7K | 149,086 | 0.6% |
| Oportun Finl Corp(OPRT) | COM | 68376D104 | $736.2K | 139,172 | 0.5% |
| Legacy Housing Corp(LEGH) | COM | 52472M101 | $342.1K | 17,524 | 0.3% |
| Beeline Holdings Inc(BLNE) | COM NEW | 277802500 | $336.7K | 195,781 | 0.2% |
| Masterbrand Inc(MBC) | COMMON STOCK | 57638P104 | $116.6K | 10,566 | 0.1% |