The Rise and Fall: Ellington Management Group LLC Q1 2021 vs. Q2 2021 Holdings Comparison

In the investment world, change is the only constant. Ellington Management Group LLC, a hedge fund and alternative investment management firm, is no exception. Every quarter, large institutional investors like Ellington disclose their holdings via the Securities and Exchange Commission's 13F filing. These filings give investors insight into the institutional investor's portfolio changes, and it's fascinating to see how investors like Ellington pivot. In this blog post, we’ll analyze Ellington's Q1 2021 and Q2 2021 13F holdings comparison and what caused the rise and fall in their holdings.

First, let’s explain what 13F filings are. Institutional investors with over $100 million in assets under management must disclose their holdings to the SEC every quarter. The 13F filings reveal important information such as the stock's name, amount, and value of the stock that the institutional investor owns.

According to the Q2 2021 13F filings, Ellington Management Group LLC decreased their holdings of "ISHARES TR" by 54.1%. In Q1 2021, "ISHARES TR" had 2,683,800 shares, valued at $233,974,000, while in Q2 2021, Ellington had 1,220,100 shares, valued at $107,418,000. This may be a sign of the fund's decreased confidence in the ISHARES TR.

Ellington Management Group LLC also increased their position in some stocks, such as "DISH NETWORK CORPORATION," which they added 6,000,000 shares to, increasing their holdings to 45,545,000 shares, valued at $44,311,000. This represents an increase of 17.7% in the value of the holdings from Q1 2021.

Another significant increase in holdings came from “CAR,” which Ellington added 315,400 shares to in Q2 2021, compared to 0 shares in Q1 2021. The value of "CAR" holdings for Q2 2021 was $24,566,000.

Apart from increasing their holdings, Ellington Management Group LLC also made several new purchases. For example, they bought 1,223,680 shares of "AMC ENTMT HLDGS INC," valued at $69,433,000, and 393,763 shares of "MR COOPER GROUP INC," valued at $13,018,000.

On the other hand, Ellington sold some of its holdings. Their holdings in "SPDR S&P 500 ETF TR" decreased by 80.8%, with 32,000 shares valued at $13,698,000 compared to 180,000 shares valued at $71,340,000 in Q1 2021. They also decreased their holdings of "INVESCO QQQ TR" by 67.9%, with only 65,000 shares valued at $23,038,000 compared to 225,000 shares valued at $71,804,000 in Q1 2021.

Overall, Ellington Management Group LLC's Q2 2021 13F filings show us that the fund has made significant changes in its holdings compared to Q1 2021. The fund made new purchases, increased holdings in some stocks, and decreased holdings in others. It will be interesting to observe how these changes affect Ellington's performance in the coming quarters.

In conclusion, analyzing the institutional investors’ holdings updates is a great way to understand the investor's investment philosophy and sentiment towards the market. Investors can use these files to make intelligent decisions to adjust their portfolios since they provide a glimpse into where the big fund managers are looking to park money. As seen from the Q1 2021 vs. Q2 2021 comparison of Ellington Management Group LLC’s 13F holdings, making changes in the fund’s portfolio is part of the investment game, and it is through analysis of these filings that we can make informed decisions or adjust our investment strategies accordingly.