Securities ▲▼ | Shares | Value ($K) | |||||
|---|---|---|---|---|---|---|---|
Q3 2025 ▲▼ | Q4 2025 ▲▼ | Change ▲▼ | Q3 2025 ▲▼ | Q4 2025 ▲▼ | Weight (%) ▲▼ | Change ▲▼ | |
| D R HORTON INC(DHI)(Put) | 0 | 100,000 | +100,000 | 0 | 14,403 | — | +14,403 |
| ISHARES TR(Put) | 0 | 100,000 | +100,000 | 0 | 9,630 | — | +9,630 |
| RADIAN GROUP INC(RDN) | 0 | 120,000 | +120,000 | 0 | 4,319 | 3.19% | +4,319 |
| CAMDEN PPTY TR(CPT) | 0 | 38,700 | +38,700 | 0 | 4,260 | 3.15% | +4,260 |
| FLOOR & DECOR HLDGS INC(FND) | 0 | 58,137 | +58,137 | 0 | 3,540 | 2.62% | +3,540 |
| SSGA ACTIVE ETF TR(Put) ST STR BL LN ETF | 0 | 85,300 | +85,300 | 0 | 3,520 | — | +3,520 |
| MID-AMER APT CMNTYS INC(MAA) | 0 | 24,800 | +24,800 | 0 | 3,445 | 2.55% | +3,445 |
| CAVCO INDS INC DEL(CVCO) | 0 | 5,043 | +5,043 | 0 | 2,979 | 2.20% | +2,979 |
| MASCO CORP(MAS) | 0 | 45,000 | +45,000 | 0 | 2,856 | 2.11% | +2,856 |
| OWENS CORNING NEW(OC) | 0 | 24,893 | +24,893 | 0 | 2,786 | 2.06% | +2,786 |
| TREX CO INC(TREX) | 0 | 60,000 | +60,000 | 0 | 2,105 | 1.56% | +2,105 |
| NVR INC(NVR) | 0 | 250 | +250 | 0 | 1,823 | 1.35% | +1,823 |
| M/I HOMES INC(MHO) | 17,810 | 27,529 | +9,719 | 2,572 | 3,522 | 2.60% | +950 |
| CENTURY CMNTYS INC(CCS) | 0 | 13,821 | +13,821 | 0 | 820 | 0.61% | +820 |
| ELLINGTON FINANCIAL INC(EFC) | 961,018 | 961,018 | 0 | 12,474 | 13,051 | 9.65% | +577 |
| LEGACY HOUSING CORP | 0 | 17,524 | +17,524 | 0 | 342 | 0.25% | +342 |
| PENNYMAC CORP(PMT) | 0 | 0 | 0 | 998 | 1,004 | 0.74% | +6 |
| ELLINGTON CREDIT COMPANY | 149,086 | 149,086 | 0 | 813 | 786 | 0.58% | -27 |
| OPORTUN FINL CORP | 139,172 | 139,172 | 0 | 859 | 736 | 0.54% | -122 |
| BEELINE HOLDINGS INC | 195,780 | 195,781 | +1 | 775 | 337 | 0.25% | -439 |
| INVITATION HOMES INC(INVH)(Call) | 44,800 | 0 | -44,800 | 1,314 | 0 | — | -1,314 |
| MASTERBRAND INC(MBC) | 165,100 | 10,566 | -154,534 | 2,174 | 117 | 0.09% | -2,058 |
| LOWES COS INC(LOW) | 10,000 | 0 | -10,000 | 2,513 | 0 | — | -2,513 |
| SOMNIGROUP INTERNATIONAL INC(SGI) | 35,000 | 0 | -35,000 | 2,952 | 0 | — | -2,952 |
| MFA FINL INC(MFA) | 1,062,035 | 719,478 | -342,557 | 9,760 | 6,698 | 4.95% | -3,062 |
| UWM HOLDINGS CORPORATION(UWMC) | 565,589 | 0 | -565,589 | 3,444 | 0 | — | -3,444 |
| TAYLOR MORRISON HOME CORP(TMHC) | 80,000 | 30,000 | -50,000 | 5,281 | 1,766 | 1.31% | -3,515 |
| COMPASS INC(COMP) | 460,802 | 0 | -460,802 | 3,700 | 0 | — | -3,700 |
| PENNYMAC FINL SVCS INC NEW(PFSI) | 52,132 | 20,000 | -32,132 | 6,458 | 2,637 | 1.95% | -3,821 |
| AMERICAN AIRLS GROUP INC(AAL)(Put) | 400,000 | 0 | -400,000 | 4,496 | 0 | — | -4,496 |
| ISHARES TR | 83,566 | 0 | -83,566 | 6,785 | 0 | — | -6,785 |
| ARMOUR RESIDENTIAL REIT INC(Call) | 500,000 | 0 | -500,000 | 7,470 | 0 | — | -7,470 |
| CHAMPION HOMES INC(SKY)(Call) | 100,000 | 0 | -100,000 | 7,637 | 0 | — | -7,637 |
| DYNEX CAP INC(DX) | 695,711 | 0 | -695,711 | 8,550 | 0 | — | -8,550 |
| CHAMPION HOMES INC(SKY) | 169,895 | 31,829 | -138,066 | 12,975 | 2,690 | 1.99% | -10,285 |
| ARMOUR RESIDENTIAL REIT INC | 714,416 | 0 | -714,416 | 10,673 | 0 | — | -10,673 |
| ISHARES TR(Put) | 170,000 | 100,000 | -70,000 | 41,133 | 24,616 | — | -16,517 |
| CARNIVAL CORP(Put) | 580,000 | 0 | -580,000 | 16,768 | 0 | — | -16,768 |
| SELECT SECTOR SPDR TR(Put) ST STR FINL ETF | 500,000 | 0 | -500,000 | 26,935 | 0 | — | -26,935 |
| SPDR S&P 500 ETF TR(SPY)(Put) | 100,000 | 30,000 | -70,000 | 66,618 | 20,458 | — | -46,160 |