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AC

Almitas Capital Portfolio holdings

AUM $443M
1-Year Est. Return 42.36%
This Fund
S&P 500
This Quarter Est. Return
+7.03%
1 Year Est. Return
+42.36%
3 Year Est. Return
+85.86%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$290M
AUM Growth
+$81.4M
Cap. Flow
+$58.8M
Cap. Flow %
20.26%
Top 10 Hldgs %
42.84%
Holding
133
New
45
Increased
46
Reduced
16
Closed
17

Top Buys

Rank Stock Value
1
BMEZ icon
BlackRock Health Sciences Trust II
BMEZ
+$16.6M
2
BKCC
BlackRock Capital Investment Corporation
BKCC
+$7.54M
3
NQP
Nuveen Pennsylvania Quality Municipal Income Fund
NQP
+$6.05M
4
SDHY
PGIM Short Duration High Yield Opportunities Fund
SDHY
+$4.99M
5
ORC
Orchid Island Capital
ORC
+$4.75M

Top Sells

Rank Stock Value
1
SABA
Saba Capital Income & Opportunities Fund II
SABA
+$12M
2
CEN
Center Coast Brookfield MLP & Energy Infrastructure Fund
CEN
+$6.27M
3
ECAT icon
BlackRock ESG Capital Allocation Term Trust
ECAT
+$5.71M
4
JHAA
Nuveen Corporate Income 2023 Target Term Fund
JHAA
+$3.95M
5
FDEU
First Trust Dynamic Europe Equity Income Fund
FDEU
+$3.94M

Sector Composition

Rank Sector Weight
1 Real Estate 6.89%
2 Financials 4.81%
3 Healthcare 0.94%
4 Communication Services 0%
5 Technology 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IIF
26
Morgan Stanley India Investment Fund
IIF
$212M
$3.65M 1.26%
170,163
+56,511
+50% +$1.25M
MXF
27
Mexico Fund
MXF
$309M
$3.07M 1.06%
160,856
+5,210
+3% +$87.6K
TWN
28
Taiwan Fund
TWN
$488M
$3.05M 1.05%
88,124
+9,200
+12% +$291K
NXJ
29
DELISTED
Nuveen New Jersey Quality Municipal Income Fund
NXJ
$2.83M 0.97%
240,075
+224,187
+1,411% +$2.46M
DMA
30
Destra Multi-Alternative Fund
DMA
$68.7M
$2.81M 0.97%
451,699
+95,685
+27% +$592K
DSGN icon
31
Design Therapeutics
DSGN
$746M
$2.72M 0.94%
+1,026,068
New +$2.35M
NLY icon
32
Annaly Capital Management
NLY
$17B
$2.7M 0.93%
+139,493
New +$2.49M
CXE
33
DELISTED
MFS High Income Municipal Trust
CXE
$2.65M 0.91%
745,919
+399,301
+115% +$1.31M
CPZ
34
Calamos Long/Short Equity & Dynamic Income Trust
CPZ
$253M
$2.55M 0.88%
176,596
+89,466
+103% +$1.28M
EDD
35
Morgan Stanley Emerging Markets Domestic Debt Fund
EDD
$379M
$2.51M 0.86%
538,182
-10,614
-2% -$48.3K
BRSP
36
BrightSpire Capital
BRSP
$683M
$2.47M 0.85%
332,001
-423,709
-56% -$2.76M
ADAM
37
Adamas Trust
ADAM
$787M
$2.4M 0.83%
281,326
-111,519
-28% -$940K
JOF
38
Japan Smaller Capitalization Fund
JOF
$323M
$2.27M 0.78%
298,460
+206,372
+224% +$1.47M
STEW
39
SRH Total Return Fund
STEW
$1.76B
$2.25M 0.78%
162,267
+29,386
+22% +$387K
TTP
40
DELISTED
TORTOISE PIPELINE & ENERGY FUND, INC.
TTP
$2.21M 0.76%
+78,585
New +$2.18M
TYG
41
Tortoise Energy Infrastructure Corp
TYG
$1.11B
$2.09M 0.72%
72,664
-12,609
-15% -$357K
MUC icon
42
BlackRock MuniHoldings California Quality Fund
MUC
$1B
$1.93M 0.67%
173,834
+114,173
+191% +$1.16M
CET
43
Central Securities Corp
CET
$1.55B
$1.87M 0.65%
49,584
+13,101
+36% +$476K
BTT icon
44
BlackRock Municipal 2030 Target Term Trust
BTT
$1.43B
$1.81M 0.62%
87,115
+53,715
+161% +$1.08M
WIW
45
Western Asset Inflation-Linked Opportunities & Income Fund
WIW
$507M
$1.78M 0.61%
205,674
+40,941
+25% +$345K
GLV
46
Clough Global Dividend & Income Fund
GLV
$77.9M
$1.68M 0.58%
326,583
+188,360
+136% +$945K
LEO
47
BNY Mellon Strategic Municipals
LEO
$387M
$1.68M 0.58%
285,933
+262,395
+1,115% +$1.44M
CEV
48
Eaton Vance California Municipal Income Trust
CEV
$71.4M
$1.66M 0.57%
160,109
+28,991
+22% +$278K
VTN icon
49
Invesco Trust for Investment Grade New York Municipals
VTN
$163M
$1.59M 0.55%
+152,979
New +$1.46M
MHD icon
50
BlackRock MuniHoldings Fund
MHD
$599M
$1.55M 0.53%
+130,301
New +$1.43M
1
2
3 4 5

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BFA
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CP
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CMP
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PLU
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Almitas Capital's Q4 2023 Portfolio in Review

As of Q4 2023, Almitas Capital held 133 positions worth $290M, up 39% from $209M the previous quarter. Its ten largest holdings account for 43% of the portfolio.

Almitas Capital deployed $58.8M of net new capital in Q4 2023, opening 45 new positions and adding to 46 existing holdings. Its largest new stake was Orchid Island Capital: 637,430 shares worth $5.37M.

By sector, the portfolio is most concentrated in Real Estate at 6.9% of assets, down from 8.3% a quarter earlier, followed by Financials and Healthcare.

On the sell side, the largest reduction was BlackRock ESG Capital Allocation Term Trust, an estimated $5.71M trimmed.

  • Almitas Capital's largest Q4 2023 buy was Orchid Island Capital: 637,430 shares worth $5.37M.
  • Almitas Capital added most to BlackRock Health Sciences Trust II in Q4 2023, an estimated $16.6M increase.
  • Almitas Capital's biggest Q4 2023 reduction was BlackRock ESG Capital Allocation Term Trust, cutting an estimated $5.71M.
  • Almitas Capital fully exited Saba Capital Income & Opportunities Fund II in Q4 2023, selling an estimated $12M.
  • Almitas Capital's ten largest holdings make up 43% of its $290M portfolio in Q4 2023.
  • Almitas Capital opened 45 new positions and closed 17 in Q4 2023.
  • Almitas Capital's portfolio value rose 39% quarter-over-quarter to $290M.

Based on Almitas Capital's 13F filing for Q4 2023, filed 14 Feb 2024.