Ellington Management Group LLC's Q1 and Q2 2021 13F Report: Notable Changes in Holdings and Portfolio Diversification

As an investment management firm, Ellington Management Group LLC oversees a diverse range of assets across various sectors and markets. The firm recently filed its 13F report for Q1 2021 and Q2 2021, revealing its holdings over the period. The report highlights the changes in holdings of the firm's portfolio, including the companies they added to and sold from their portfolio.

The 13F report shows that Ellington Management Group LLC reduced its position in iShares TR HYG by 54.1%, selling almost 1.5 million shares. The firm also reduced its position in Invesco QQQ TR QQQ by 67.9%, selling 160,000 shares. On the other hand, the firm acquired a position in Dish Network Corporation DISH, increasing its shares by 6,000,000 or 17.7%. The firm also acquired a position in ViacomCBS Inc PARA, adding 132,172 shares to its portfolio.

The report further shows that Ellington Management Group LLC reduced its holdings in SPDR S&P 500 ETF TR SPY by 80.8%, selling 148,000 shares. The firm also exited its position in newly acquired SPDR Ser Tr KRE, selling all of its shares. However, the firm's position in ISHARES TR PFF remained unchanged, holding steady at 540,000 shares.

In the automotive sector, Ellington Management Group LLC added Avis Budget Group CAR to its portfolio, acquiring 315,400 shares. The firm also added call options to Borgwarner Inc BWA and Ford Mtr Co Del F, with 101,000 and 232,500 shares respectively. However, the firm sold all of its shares in Kohls Corp KSS during the period.

In the retail sector, the firm acquired 110,714 shares in department store chain Nordstrom Inc JWN, an increase of 95,593 shares. The firm also added call options to Hasbro Inc HAS, with 20,318 shares, and Pitney Bowes Inc PBI, with 300,000 shares.

In the energy sector, Ellington Management Group LLC exited its position in Genesis Energy L P GEL by selling all of its shares. However, the firm added to its position in Kinder Morgan Inc Del KMI, acquiring 119,000 shares.

In the financial sector, the firm added Ellington Financial Inc EFC, increasing its position by 0.1%. The firm also added 140,535 shares in PennyMac Finl Svcs Inc New PFSI, an increase of 105,935 shares.

In the technology sector, Ellington Management Group LLC acquired a position in Redfin Corp RDFN, adding 50,000 call options to its portfolio.

In the healthcare sector, the firm added Herbalife Nutrition Ltd HLF, acquiring call options with 50,000 shares.

In the real estate sector, Ellington Management Group LLC added New Residential Invt Corp RITM, acquiring 1,759,306 shares, an increase of 100%.

Overall, the 13F report reveals that Ellington Management Group LLC's portfolio has seen some notable changes over the course of Q1 2021 and Q2 2021. The firm's decision to reduce its positions in certain sectors such as high-yield bonds and technology ETFs indicates a shift in strategy towards more diversified holdings. The firm's addition of call options in various companies also suggests a move towards more active management of their portfolio.

It is important to note that the 13F report is only a snapshot of Ellington Management Group LLC's holdings and their investment strategy may not be representative of the broader market. Investors should consider the report alongside other relevant data and consult with their financial advisor before making any investment decisions.