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Almitas Capital Portfolio holdings

AUM $443M
1-Year Est. Return 42.36%
This Fund
S&P 500
This Quarter Est. Return
-2.62%
1 Year Est. Return
+42.36%
3 Year Est. Return
+85.86%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$209M
AUM Growth
-$25.1M
Cap. Flow
-$11.9M
Cap. Flow %
-5.72%
Top 10 Hldgs %
48.49%
Holding
108
New
18
Increased
28
Reduced
27
Closed
20

Top Buys

Rank Stock Value
1
PDX
PIMCO Dynamic Income Strategy Fund
PDX
+$4.08M
2
FDEU
First Trust Dynamic Europe Equity Income Fund
FDEU
+$3.91M
3
AJXA
Great Ajax Corp.7.25% Convertible Senior Notes due 2024
AJXA
+$2.63M
4
SABA
Saba Capital Income & Opportunities Fund II
SABA
+$2.54M
5
NQP
Nuveen Pennsylvania Quality Municipal Income Fund
NQP
+$2.22M

Top Sells

Rank Stock Value
1
NLY icon
Annaly Capital Management
NLY
+$13.6M
2
BBDC icon
Barings BDC
BBDC
+$5.13M
3
MPV
Barings Participation Investors
MPV
+$3.18M
4
GER
Goldman Sachs MLP Energy Renaissance Fund
GER
+$2.49M
5
BFZ
BlackRock CA Municipal Income Trust
BFZ
+$2.37M

Sector Composition

Rank Sector Weight
1 Real Estate 8.34%
2 Financials 3.4%
3 Technology 1.23%
4 Communication Services 0.33%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IIF
26
Morgan Stanley India Investment Fund
IIF
$210M
$2.54M 1.22%
113,652
+6,615
+6% +$147K
TYG
27
Tortoise Energy Infrastructure Corp
TYG
$1.14B
$2.46M 1.18%
85,273
– –
TWN
28
Taiwan Fund
TWN
$493M
$2.37M 1.13%
78,924
+12,472
+19% +$392K
EDD
29
Morgan Stanley Emerging Markets Domestic Debt Fund
EDD
$372M
$2.34M 1.12%
548,796
+222,674
+68% +$1.05M
DMA
30
Destra Multi-Alternative Fund
DMA
$68.7M
$2.13M 1.02%
+356,014
New +$1.95M
MFA
31
MFA Financial
MFA
$929M
$2.12M 1.01%
220,471
– –
DMF
32
DELISTED
BNY Mellon Municipal Income
DMF
$1.94M 0.93%
342,744
+195,473
+133% +$1.21M
JPI
33
DELISTED
Nuveen Preferred Securities & Income Opportunities Fund
JPI
$1.91M 0.91%
111,076
+62,020
+126% +$1.07M
HYB
34
DELISTED
New America High Income Fund, Inc.
HYB
$1.72M 0.83%
266,198
-58,688
-18% -$393K
STEW
35
SRH Total Return Fund
STEW
$1.75B
$1.72M 0.83%
132,881
– –
BMEZ icon
36
BlackRock Health Sciences Trust II
BMEZ
$957M
$1.5M 0.72%
+104,194
New +$1.62M
WIW
37
Western Asset Inflation-Linked Opportunities & Income Fund
WIW
$507M
$1.36M 0.65%
164,733
-105,541
-39% -$923K
CPZ
38
Calamos Long/Short Equity & Dynamic Income Trust
CPZ
$253M
$1.29M 0.62%
87,130
– –
CET
39
Central Securities Corp
CET
$1.54B
$1.25M 0.6%
36,483
+7,107
+24% +$258K
AAIC
40
DELISTED
Arlington Asset Investment Corp.
AAIC
$1.22M 0.59%
285,885
+139,978
+96% +$635K
CEV
41
Eaton Vance California Municipal Income Trust
CEV
$71.7M
$1.2M 0.58%
131,118
+39,231
+43% +$384K
KSM
42
DELISTED
DWS Strategic Municipal Income Trust
KSM
$1.12M 0.54%
148,543
+56,437
+61% +$464K
CXE
43
DELISTED
MFS High Income Municipal Trust
CXE
$1.08M 0.52%
+346,618
New +$1.18M
VFL
44
DELISTED
abrdn National Municipal Income Fund
VFL
$930K 0.45%
+108,001
New +$1.04M
CCIF
45
Carlyle Credit Income Fund
CCIF
$56.4M
$870K 0.42%
+106,297
New +$868K
KTF
46
DWS Municipal Income Trust
KTF
$346M
$720K 0.34%
+93,546
New +$786K
EMO
47
ClearBridge Energy Midstream Opportunity Fund
EMO
$1.06B
$696K 0.33%
21,953
-13,921
-39% -$437K
GLV
48
Clough Global Dividend & Income Fund
GLV
$78.4M
$687K 0.33%
138,223
-49,982
-27% -$272K
RDI icon
49
Reading International Class A
RDI
$32.9M
$680K 0.33%
320,584
-52,391
-14% -$128K
JOF
50
Japan Smaller Capitalization Fund
JOF
$320M
$655K 0.31%
92,088
+12,964
+16% +$94.6K
1
2
3 4 5

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Almitas Capital's Q3 2023 Portfolio in Review

As of Q3 2023, Almitas Capital held 108 positions worth $209M, down 11% from $234M the previous quarter. Its ten largest holdings account for 48% of the portfolio.

Almitas Capital withdrew a net $11.9M in Q3 2023, closing 20 positions and reducing 27 holdings. Its most notable exit was Annaly Capital Management, an estimated $13.6M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 8.3% of assets, down from 15% a quarter earlier, followed by Financials and Technology.

Against the trend, Almitas Capital opened a new position in Destra Multi-Alternative Fund worth $2.13M.

  • Almitas Capital's largest Q3 2023 buy was Destra Multi-Alternative Fund: 356,014 shares worth $2.13M.
  • Almitas Capital added most to PIMCO Dynamic Income Strategy Fund in Q3 2023, an estimated $4.08M increase.
  • Almitas Capital's biggest Q3 2023 reduction was Barings BDC, cutting an estimated $5.13M.
  • Almitas Capital fully exited Annaly Capital Management in Q3 2023, selling an estimated $13.6M.
  • Almitas Capital's ten largest holdings make up 48% of its $209M portfolio in Q3 2023.
  • Almitas Capital opened 18 new positions and closed 20 in Q3 2023.
  • Almitas Capital's portfolio value fell 11% quarter-over-quarter to $209M.

Based on Almitas Capital's 13F filing for Q3 2023, filed 14 Nov 2023.