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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
DCF
76
DELISTED
BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc.
DCF
$608K 0.21%
+74,631
New +$586K
BNY
77
DELISTED
BlackRock New York Municipal Income Trust
BNY
$599K 0.21%
+56,906
New +$545K
SBI
78
Western Asset Intermediate Muni Fund
SBI
$108M
$568K 0.2%
73,762
+17,159
+30% +$127K
NAC icon
79
Nuveen California Quality Municipal Income Fund
NAC
$1.85B
$529K 0.18%
+47,674
New +$485K
MAV
80
DELISTED
Pioneer Municipal High Income Advantage Fund
MAV
$516K 0.18%
+64,392
New +$463K
MPA icon
81
BlackRock MuniYield Pennsylvania Quality Fund
MPA
$142M
$472K 0.16%
40,620
+29,151
+254% +$315K
LADR
82
Ladder Capital
LADR
$1.25B
$465K 0.16%
40,431
– –
BTZ icon
83
BlackRock Credit Allocation Income Trust
BTZ
$933M
$440K 0.15%
+42,622
New +$418K
IGI
84
Western Asset Investment Grade Defined Opportunity Trust
IGI
$94.1M
$415K 0.14%
23,579
+9,561
+68% +$155K
BSL
85
Blackstone Senior Floating Rate 2027 Term Fund
BSL
$168M
$370K 0.13%
27,709
+1,273
+5% +$16.6K
KF
86
Korea Fund
KF
$239M
$360K 0.12%
+15,400
New +$326K
MXE
87
Mexico Equity and Income Fund
MXE
$58.5M
$359K 0.12%
32,088
+6,435
+25% +$63K
WHLRL
88
Wheeler Real Estate Investment Trust 7.00% Senior Subordinated Convertible Notes Due 2031
WHLRL
$316K 0.11%
5,272
– –
GRX
89
Gabelli Healthcare & Wellness Trust
GRX
$143M
$312K 0.11%
33,418
+1,628
+5% +$14K
IQI icon
90
Invesco Quality Municipal Securities
IQI
$526M
$306K 0.11%
+32,173
New +$284K
MUI
91
DELISTED
BlackRock Municipal Income Fund, Inc.
MUI
$297K 0.1%
+25,491
New +$274K
CCIF
92
Carlyle Credit Income Fund
CCIF
$56M
$281K 0.1%
35,291
-71,006
-67% -$551K
SPE
93
Special Opportunities Fund
SPE
$139M
$280K 0.1%
24,721
+584
+2% +$6.2K
GF
94
New Germany Fund
GF
$184M
$276K 0.1%
+31,573
New +$258K
MHI
95
DELISTED
Pioneer Municipal High Income Fund
MHI
$264K 0.09%
+30,632
New +$238K
NRK icon
96
Nuveen New York AMT-Free Quality Municipal Income Fund
NRK
$904M
$263K 0.09%
+25,000
New +$244K
CMU
97
DELISTED
MFS High Yield Municipal Trust
CMU
$256K 0.09%
+77,289
New +$238K
MHN
98
DELISTED
BlackRock MuniHoldings New Yrok Quality Fund
MHN
$249K 0.09%
+23,647
New +$228K
C icon
99
Citigroup
C
$222B
$231K 0.08%
+4,500
New +$199K
MYN icon
100
BlackRock MuniYield New York Quality Fund
MYN
$375M
$217K 0.07%
+21,036
New +$198K
2 3
4
5 6

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EFMC
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BFA
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CP
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CMP
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PLU
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TC
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TAS
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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.