# EDGAR Filing Document

**Accession Number:** 0001478394
**File Stem:** 0001085146-23-001047
**Filing Date:** 2023-2
**Character Count:** 13983
**Document Hash:** f87a58b1eca3b12202be72a1ca37d7c4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001085146-23-001047.hdr.sgml**: 20230210

**ACCESSION NUMBER**: 0001085146-23-001047

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230210

**DATE AS OF CHANGE**: 20230210

**EFFECTIVENESS DATE**: 20230210

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** EMG Holdings, L.P.
- **CENTRAL INDEX KEY:** 0001478394
- **IRS NUMBER:** 030612415
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-21414
- **FILM NUMBER:** 23612813

**BUSINESS ADDRESS:**
- **STREET 1:** 53 FOREST AVENUE
- **CITY:** OLD GREENWICH
- **STATE:** CT
- **ZIP:** 06870
- **BUSINESS PHONE:** (203) 698-1200

**MAIL ADDRESS:**
- **STREET 1:** 53 FOREST AVENUE
- **CITY:** OLD GREENWICH
- **STATE:** CT
- **ZIP:** 06870

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** EMG Holdings L.P.<br>**Address:** 53 FOREST AVENUE<br>OLD GREENWICH, CT 06870

**Form 13F File Number:** 028-21414

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Daniel Caffarelli<br>**Title:** Chief Compliance Officer<br>**Phone:** 203-698-1200

**Signature, Place, and Date of Signing:**

/s/Daniel Caffarelli  New York, NY  02-10-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 1

**Form 13F Information Table Entry Total:** 89

**Form 13F Information Table Value Total:** $650261957

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

| No.   | Name                           | Form 13F File Number   |
|:---|:---|:---|
|  | ELLINGTON MANAGEMENT GROUP LLC | 028-11539              |

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| AG MTG INVT TR INC | COM NEW | 001228501 | BBG001V0PK00 | 235047 | 44265 | SH |  | SOLE | 01 | 44265 | 0 | 0 |
| AMC ENTMT HLDGS INC | CL A COM | 00165C104 | BBG001SZYYL4 | 24641001 | 6054300 | SH | Put | SOLE | 01 | 6054300 | 0 | 0 |
| AMERICAN AIRLS GROUP INC | COM | 02376R102 | BBG005P7Q907 | 19334400 | 1520000 | SH | Put | SOLE | 01 | 1520000 | 0 | 0 |
| ANYWHERE REAL ESTATE INC | COM | 75605Y106 | BBG001SSDCC1 | 803057 | 125674 | SH |  | SOLE | 01 | 125674 | 0 | 0 |
| ARCTOS NORTHSTAR ACQUIS CORP | *W EXP 99/99/999 | G0477L126 |  | 1586 | 37498 | SH |  | SOLE | 01 | 37498 | 0 | 0 |
| ARES ACQUISITION CORPORATION | *W EXP 02/02/202 | G33032122 |  | 21351 | 45788 | SH |  | SOLE | 01 | 45788 | 0 | 0 |
| ARES MANAGEMENT CORPORATION | CL A COM STK | 03990B101 | BBG0068KVVC7 | 793904 | 11600 | SH |  | SOLE | 01 | 11600 | 0 | 0 |
| ARES MANAGEMENT CORPORATION | CL A COM STK | 03990B101 | BBG0068KVVC7 | 7870600 | 115000 | SH | Put | SOLE | 01 | 115000 | 0 | 0 |
| ARROWROOT ACQUISITION CORP | *W EXP 03/02/202 | 04282M110 |  | 570 | 49999 | SH |  | SOLE | 01 | 49999 | 0 | 0 |
| AXOS FINANCIAL INC | COM | 05465C100 | BBG001SLZ724 | 787332 | 20600 | SH | Put | SOLE | 01 | 20600 | 0 | 0 |
| BAUSCH HEALTH COS INC | COM | 071734107 | BBG001S7WDP0 | 2279640 | 363000 | SH |  | SOLE | 01 | 363000 | 0 | 0 |
| BIOTE CORP | *W EXP 05/26/202 | 090683111 |  | 7468 | 24999 | SH |  | SOLE | 01 | 24999 | 0 | 0 |
| BLUERIVER ACQUISITION CORP | *W EXP 01/04/202 | G1261Q115 |  | 291 | 18332 | SH |  | SOLE | 01 | 18332 | 0 | 0 |
| CARS COM INC | COM | 14575E105 | BBG001SP6HB5 | 688500 | 50000 | SH | Put | SOLE | 01 | 50000 | 0 | 0 |
| COMPASS INC | CL A | 20464U100 | BBG00J5SXTJ1 | 930572 | 399387 | SH |  | SOLE | 01 | 399387 | 0 | 0 |
| CONSTELLATION ACQUISITN CORP | *W EXP 01/29/202 | G2R18K113 |  | 400 | 13333 | SH |  | SOLE | 01 | 13333 | 0 | 0 |
| CORAZON CAPITAL V838 MONOCER | *W EXP 03/24/202 | G24237128 |  | 850 | 33333 | SH |  | SOLE | 01 | 33333 | 0 | 0 |
| D R HORTON INC | COM | 23331A109 | BBG001S8M692 | 89 | 1 | SH |  | SOLE | 01 | 1 | 0 | 0 |
| D R HORTON INC | COM | 23331A109 | BBG001S8M692 | 4457000 | 50000 | SH | Put | SOLE | 01 | 50000 | 0 | 0 |
| DHC ACQUISITION CORP | *W EXP 02/25/202 | G2758T117 |  | 750 | 49998 | SH |  | SOLE | 01 | 49998 | 0 | 0 |
| DISH NETWORK CORPORATION | NOTE 2.375% 3/1 | 25470MAD1 |  | 8875298 | 9790000 | PRN |  | SOLE | 01 | 9790000 | 0 | 0 |
| ELLINGTON FINANCIAL INC | COM | 28852N109 | BBG001SQ6V04 | 11468734 | 927141 | SH |  | SOLE |  | 927141 | 0 | 0 |
| ELLINGTON RESIDENTIAL MTG RE | COM SHS BEN INT | 288578107 | BBG004DFMB86 | 1022730 | 149086 | SH |  | SOLE |  | 149086 | 0 | 0 |
| ESM ACQUISITION CORPORATION | *W EXP 02/02/202 | G3195H112 |  | 3877 | 33333 | SH |  | SOLE | 01 | 33333 | 0 | 0 |
| FIDELITY NATIONAL FINANCIAL | FNF GROUP COM | 31620R303 | BBG006N7S6J1 | 4138200 | 110000 | SH | Call | SOLE | 01 | 110000 | 0 | 0 |
| FIRST RESERVE SUSTAINABLE GW | *W EXP 03/05/202 | 336169115 |  | 159 | 12499 | SH |  | SOLE | 01 | 12499 | 0 | 0 |
| FREEDOM ACQUISITION I CORP | *W EXP 03/02/202 | G3663X128 |  | 4998 | 24999 | SH |  | SOLE | 01 | 24999 | 0 | 0 |
| FTAC HERA ACQUISITION CORP | *W EXP 02/28/202 | G3728Y111 |  | 1375 | 49999 | SH |  | SOLE | 01 | 49999 | 0 | 0 |
| GLOBALSTAR INC | COM | 378973408 | BBG001SPN4X1 | 5985000 | 4500000 | SH |  | SOLE | 01 | 4500000 | 0 | 0 |
| GLOBALSTAR INC | COM | 378973408 | BBG001SPN4X1 | 17312344 | 13016800 | SH | Call | SOLE | 01 | 13016800 | 0 | 0 |
| GOLDEN ARROW MERGER CORP | *W EXP 07/31/202 | 380799114 |  | 415 | 49999 | SH |  | SOLE | 01 | 49999 | 0 | 0 |
| GREAT AJAX CORP | COM | 38983D300 | BBG008200KY7 | 1986377 | 273983 | SH |  | SOLE | 01 | 273983 | 0 | 0 |
| IMPAC MTG HLDGS INC | COM NEW | 45254P508 | BBG001S8MXK0 | 6610 | 38743 | SH |  | SOLE | 01 | 38743 | 0 | 0 |
| INDEPENDENCE HOLDINGS CORP | *W EXP 03/31/202 | G4761A127 |  | 220 | 35999 | SH |  | SOLE | 01 | 35999 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | SR LN ETF | 46138G508 | BBG001V0MBC0 | 6159000 | 300000 | SH | Put | SOLE | 01 | 300000 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 | BBG001S9GN63 | 275866080 | 1036000 | SH | Put | SOLE | 01 | 1036000 | 0 | 0 |
| ISHARES TR | IBOXX HI YD ETF | 464288513 | BBG001ST0ZQ7 | 10521064 | 142891 | SH |  | SOLE | 01 | 142891 | 0 | 0 |
| ISHARES TR | IBOXX HI YD ETF | 464288513 | BBG001ST0ZQ7 | 54486200 | 740000 | SH | Put | SOLE | 01 | 740000 | 0 | 0 |
| ISHARES TR | US HOME CONS ETF | 464288752 | BBG001SQZTR8 | 9090750 | 150000 | SH | Put | SOLE | 01 | 150000 | 0 | 0 |
| ITIQUIRA ACQUISITION CORP | *W EXP 02/03/202 | G49773115 |  | 80 | 10000 | SH |  | SOLE | 01 | 10000 | 0 | 0 |
| JAWS MUSTANG ACQUISITION COR | *W EXP 01/30/202 | G50737124 |  | 812 | 12499 | SH |  | SOLE | 01 | 12499 | 0 | 0 |
| KERNEL GROUP HOLDINGS INC | *W EXP 02/02/202 | G5259L129 |  | 428 | 75000 | SH |  | SOLE | 01 | 75000 | 0 | 0 |
| KISMET ACQUISITION TWO CORP | *W EXP 06/30/202 | G52807115 |  | 265 | 41032 | SH |  | SOLE | 01 | 41032 | 0 | 0 |
| LAZARD GROWTH ACQUISITION CO | *W EXP 02/10/202 | G54035111 |  | 66 | 10998 | SH |  | SOLE | 01 | 10998 | 0 | 0 |
| LIVE OAK MOBILITY ACQUISI CO | *W EXP 03/04/202 | 538126111 |  | 2800 | 19998 | SH |  | SOLE | 01 | 19998 | 0 | 0 |
| LOANDEPOT INC | COM CL A | 53946R106 | BBG00B5Z6KL8 | 275492 | 166965 | SH |  | SOLE | 01 | 166965 | 0 | 0 |
| LOCAL BOUNTI CORP | *W EXP 99/99/999 | 53960E114 |  | 3032 | 18398 | SH |  | SOLE | 01 | 18398 | 0 | 0 |
| MARATHON DIGITAL HOLDINGS IN | COM | 565788106 | BBG001V0L7T2 | 5130000 | 1500000 | SH | Put | SOLE | 01 | 1500000 | 0 | 0 |
| MASTERBRAND INC | COMMON STOCK | 57638P104 | BBG01B9G4424 | 8105227 | 1073540 | SH |  | SOLE | 01 | 1073540 | 0 | 0 |
| MFA FINL INC | COM | 55272X607 | BBG001S86YS8 | 15330087 | 1556354 | SH |  | SOLE | 01 | 1556354 | 0 | 0 |
| MR COOPER GROUP INC | COM | 62482R107 | BBG002V09956 | 18931328 | 471750 | SH |  | SOLE | 01 | 471750 | 0 | 0 |
| MR COOPER GROUP INC | COM | 62482R107 | BBG002V09956 | 9530875 | 237500 | SH | Call | SOLE | 01 | 237500 | 0 | 0 |
| NEW YORK MTG TR INC | COM PAR $.02 | 649604501 | BBG001SHHBR7 | 6059720 | 2367078 | SH |  | SOLE | 01 | 2367078 | 0 | 0 |
| NORTH ATLANTIC ACQUISITN COR | *W EXP 10/20/202 | G66139125 |  | 337 | 16666 | SH |  | SOLE | 01 | 16666 | 0 | 0 |
| OPENDOOR TECHNOLOGIES INC | COM | 683712103 | BBG00SHY8ZR0 | 580000 | 500000 | SH |  | SOLE | 01 | 500000 | 0 | 0 |
| OPENDOOR TECHNOLOGIES INC | COM | 683712103 | BBG00SHY8ZR0 | 348000 | 300000 | SH | Call | SOLE | 01 | 300000 | 0 | 0 |
| OPORTUN FINL CORP | COM | 68376D104 | BBG001S8N4V1 | 3738744 | 678538 | SH |  | SOLE | 01 | 678538 | 0 | 0 |
| ORCHID IS CAP INC | COM NEW | 68571X301 | BBG001V18CW0 | 105000 | 10000 | SH |  | SOLE | 01 | 10000 | 0 | 0 |
| PATHFINDER ACQUISITION CORP | *W EXP 02/19/202 | G04119122 |  | 3413 | 14837 | SH |  | SOLE | 01 | 14837 | 0 | 0 |
| PAYPAL HLDGS INC | COM | 70450Y103 | BBG0077VNXW5 | 142 | 2 | SH |  | SOLE | 01 | 2 | 0 | 0 |
| PAYPAL HLDGS INC | COM | 70450Y103 | BBG0077VNXW5 | 2044014 | 28700 | SH | Call | SOLE | 01 | 28700 | 0 | 0 |
| PENNYMAC CORP | NOTE 5.500% 3/1 | 70932AAF0 |  | 820928 | 1000000 | PRN |  | SOLE | 01 | 1000000 | 0 | 0 |
| PENNYMAC CORP | NOTE 5.500%11/0 | 70932AAD5 |  | 1127051 | 1250000 | PRN |  | SOLE | 01 | 1250000 | 0 | 0 |
| PENNYMAC FINL SVCS INC NEW | COM | 70932M107 | BBG00LMYX132 | 668418 | 11797 | SH |  | SOLE | 01 | 11797 | 0 | 0 |
| PENNYMAC MTG INVT TR | COM | 70931T103 | BBG001T1MJR8 | 854960 | 69004 | SH |  | SOLE | 01 | 69004 | 0 | 0 |
| PERIDOT ACQUISITION CORP II | *W EXP 04/30/202 | G7008B121 |  | 3269 | 69999 | SH |  | SOLE | 01 | 69999 | 0 | 0 |
| POWERED BRANDS | *W EXP 01/07/202 | G7209M116 |  | 10 | 33332 | SH |  | SOLE | 01 | 33332 | 0 | 0 |
| PRIVETERRA ACQUISITION CORP | *W EXP 02/28/202 | 74275N110 |  | 1140 | 24999 | SH |  | SOLE | 01 | 24999 | 0 | 0 |
| REDFIN CORP | COM | 75737F108 | BBG001V1F423 | 296800 | 70000 | SH |  | SOLE | 01 | 70000 | 0 | 0 |
| REDWOOD TR INC | COM | 758075402 | BBG001SBHVP8 | 4383792 | 648490 | SH |  | SOLE | 01 | 648490 | 0 | 0 |
| RITHM CAPITAL CORP | COM NEW | 64828T201 | BBG003T1GM12 | 5001094 | 612129 | SH |  | SOLE | 01 | 612129 | 0 | 0 |
| RITHM CAPITAL CORP | COM NEW | 64828T201 | BBG003T1GM12 | 9686352 | 1185600 | SH | Call | SOLE | 01 | 1185600 | 0 | 0 |
| RMG ACQUISITION CORP III | *W EXP 02/08/202 | G76088122 |  | 300 | 10000 | SH |  | SOLE | 01 | 10000 | 0 | 0 |
| ROCKET COS INC | COM CL A | 77311W101 | BBG00VY1MZN4 | 8400000 | 1200000 | SH | Call | SOLE | 01 | 1200000 | 0 | 0 |
| SCION TECH GROWTH II | *W EXP 01/28/202 | G31070116 |  | 180 | 50000 | SH |  | SOLE | 01 | 50000 | 0 | 0 |
| SELECT SECTOR SPDR TR | FINANCIAL | 81369Y605 | BBG001S7T223 | 28215000 | 825000 | SH | Put | SOLE | 01 | 825000 | 0 | 0 |
| SIX FLAGS ENTMT CORP NEW | COM | 83001A102 | BBG001S8H000 | 743814 | 31992 | SH |  | SOLE | 01 | 31992 | 0 | 0 |
| SLAM CORP | *W EXP 02/23/202 | G8210L121 |  | 1760 | 19999 | SH |  | SOLE | 01 | 19999 | 0 | 0 |
| SMARTRENT INC | COM CL A | 83193G107 | BBG00Z0H9PZ1 | 1428186 | 587731 | SH |  | SOLE | 01 | 587731 | 0 | 0 |
| SOCIAL LEVERAGE ACQUISN CORP | *W EXP 02/17/202 | 83363K110 |  | 747 | 12499 | SH |  | SOLE | 01 | 12499 | 0 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 | BBG001SCPX28 | 7192736 | 42400 | SH | Put | SOLE | 01 | 42400 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 | BBG001S72SM3 | 11855 | 31 | SH |  | SOLE | 01 | 31 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 | BBG001S72SM3 | 38242999 | 100000 | SH | Put | SOLE | 01 | 100000 | 0 | 0 |
| SUSTAINABLE DEVELP ACQU I CO | *W EXP 02/04/202 | 86934L111 |  | 1000 | 25000 | SH |  | SOLE | 01 | 25000 | 0 | 0 |
| TH INTERNATIONAL LIMITED | *W EXP 09/28/202 | G8656L114 |  | 3003 | 25000 | SH |  | SOLE | 01 | 25000 | 0 | 0 |
| TWELVE SEAS INVESTMENT CO II | *W EXP 03/02/202 | 90118T114 |  | 262 | 16666 | SH |  | SOLE | 01 | 16666 | 0 | 0 |
| TZP STRATEGIES ACQUISTN CORP | *W EXP 01/06/202 | G91595119 |  | 517 | 21109 | SH |  | SOLE | 01 | 21109 | 0 | 0 |
| VPC IMPACT ACQUISITION HLDG | *W EXP 03/05/202 | G9460L118 |  | 3737 | 124999 | SH |  | SOLE | 01 | 124999 | 0 | 0 |
| VROOM INC | NOTE 0.750% 7/0 | 92918VAB5 |  | 3198346 | 9005000 | PRN |  | SOLE | 01 | 9005000 | 0 | 0 |

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