Ellington Credit, Inc. (NYSE: EARN) is a closed‐end management investment company structured as a business development company (BDC). Established in 2018 and headquartered in New York City, the firm aims to generate current income and capital appreciation through investment in a diversified portfolio of credit and fixed‐income instruments. As a publicly traded entity, Ellington Credit provides investors with access to a broad range of credit opportunities that might otherwise be available only to institutional investors.
The company’s investment portfolio spans multiple asset classes, including residential and commercial mortgage‐backed securities (both agency and non-agency), collateralized loan obligations (CLOs), asset-backed securities (ABS), and corporate debt instruments. Ellington Credit also selectively invests in first-lien and senior secured loans, alternative credit strategies and other structured products. The firm employs both fundamental credit analysis and quantitative risk management techniques to structure positions across the credit spectrum.
Ellington Credit is externally managed by Ellington Financial Management, an affiliate of Ellington Financial LLC, which was founded in 1994 and has a multi-decade track record in mortgage and credit markets. The management team combines experienced credit analysts, traders and portfolio managers who leverage proprietary models for market forecasting, stress testing and hedging. This integrated approach allows the firm to identify value in changing market conditions while seeking to preserve capital and manage downside risk.
Serving predominantly North American markets, Ellington Credit adheres to the regulatory framework governing BDCs under the Investment Company Act of 1940. The company’s board of directors and senior leadership include professionals with deep backgrounds in fixed income, securitization and structured finance. By blending active portfolio management with disciplined risk controls, Ellington Credit positions itself to navigate credit cycles and deliver attractive risk‐adjusted returns for its shareholders.
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