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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
EARN
76
Ellington Residential Mortgage REIT
EARN
$167M
$194K 0.09%
31,192
-11,151
-26% -$76K
GLQ
77
Clough Global Equity Fund
GLQ
$152M
$172K 0.08%
+31,323
New +$189K
NXJ
78
DELISTED
Nuveen New Jersey Quality Municipal Income Fund
NXJ
$168K 0.08%
+15,888
New +$179K
VEL icon
79
Velocity Financial
VEL
$698M
$137K 0.07%
12,120
– –
LEO
80
BNY Mellon Strategic Municipals
LEO
$386M
$125K 0.06%
+23,538
New +$137K
MPA icon
81
BlackRock MuniYield Pennsylvania Quality Fund
MPA
$142M
$119K 0.06%
+11,469
New +$129K
BBDC icon
82
Barings BDC
BBDC
$885M
$105K 0.05%
11,747
-595,605
-98% -$5.13M
WMC
83
DELISTED
Western Asset Mortgage Capital Corporation
WMC
$99.7K 0.05%
10,608
-14,247
-57% -$141K
DSM
84
BNY Mellon Strategic Municipal Bond Fund
DSM
$291M
$79.6K 0.04%
+16,024
New +$88K
TEI
85
Templeton Emerging Markets Income Fund
TEI
$314M
$78.8K 0.04%
+17,088
New +$85.8K
FGB
86
DELISTED
First Trust Specialty Finance and Financial Opportunities Fund
FGB
$40.9K 0.02%
+12,134
New +$40.7K
AOD
87
abrdn Total Dynamic Dividend Fund
AOD
$1.09B
– –
-280,447
Closed -$2.35M
BCX icon
88
BlackRock Resources & Commodities Strategy Trust
BCX
$891M
– –
-149,634
Closed -$1.47M
C icon
89
Citigroup
C
$222B
– –
-4,500
Closed -$214K
DX
90
Dynex Capital
DX
$3.07B
– –
-19,968
Closed -$261K
EVV
91
Eaton Vance Limited Duration Income Fund
EVV
$1.06B
– –
-87,167
Closed -$828K
FSCO
92
FS Credit Opportunities Corp
FSCO
$999M
– –
-205,615
Closed -$1.04M
GLO
93
Clough Global Opportunities Fund
GLO
$246M
– –
-13,140
Closed -$67.4K
HFRO
94
Highland Opportunities and Income Fund
HFRO
$406M
– –
-22,078
Closed -$188K
JFR icon
95
Nuveen Floating Rate Income Fund
JFR
$1.23B
– –
-10,941
Closed -$88.4K
JPC icon
96
Nuveen Preferred & Income Opportunities Fund
JPC
$2.9B
– –
-53,916
Closed -$356K
NLY icon
97
Annaly Capital Management
NLY
$17.4B
– –
-679,400
Closed -$13.6M
TIPT icon
98
Tiptree Inc
TIPT
$678M
– –
-13,120
Closed -$194K
TWO
99
Two Harbors Investment
TWO
$1.27B
– –
-28,845
Closed -$387K
WHLRD
100
Wheeler Real Estate Investment Trust Series D Preferred Stock
WHLRD
– –
-129,187
Closed -$1.51M
1 2 3
4
5

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HBT
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EFMC
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BFA
Beacon Financial Advisory Cleveland, Ohio $443M AUM 17.02% 1-Year Est. Return
CP
Cornerstone Planning Charlotte, North Carolina $443M AUM
CMP
Coston McIsaac & Partners Bar Harbor, Maine $443M AUM 6.68% 1-Year Est. Return
PLU
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TC
TownSquare Capital Provo, Utah $444M AUM 24.03% 1-Year Est. Return
TAS
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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.