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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
-1.45%
1 Year Est. Return
+42.36%
3 Year Est. Return
+85.86%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$454M
AUM Growth
+$17.3M
Cap. Flow
+$50.4M
Cap. Flow %
11.1%
Top 10 Hldgs %
63.04%
Holding
123
New
57
Increased
17
Reduced
15
Closed
17

Top Buys

Rank Stock Value
1
ELME
Elme Communities
ELME
+$17.2M
2
FSSL
FS Specialty Lending Fund
FSSL
+$11M
3
MRCC
Monroe Capital Corp
MRCC
+$5.91M
4
USA icon
Liberty All-Star Equity Fund
USA
+$5.01M
5
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$4.84M

Top Sells

Rank Stock Value
1
PHD
Pioneer Floating Rate Fund
PHD
+$6.97M
2
FBTC icon
Fidelity Wise Origin Bitcoin Fund
FBTC
+$6.54M
3
BIT icon
BlackRock Multi-Sector Income Trust
BIT
+$6.54M
4
ENX
Eaton Vance New York Municipal Bond Fund
ENX
+$6.09M
5
IGF icon
iShares Global Infrastructure ETF
IGF
+$5.68M

Sector Composition

Rank Sector Weight
1 Healthcare 15.69%
2 Real Estate 7.98%
3 Financials 5.67%
4 Consumer Discretionary 1.65%
5 Communication Services 1.15%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CGBD icon
76
Carlyle Secured Lending
CGBD
$719M
$536K 0.12%
+42,885
New +$534K
STEW
77
SRH Total Return Fund
STEW
$1.79B
$532K 0.12%
+28,719
New +$516K
SABA
78
Saba Capital Income & Opportunities Fund II
SABA
$221M
$529K 0.12%
+64,130
New +$560K
FLGT icon
79
Fulgent Genetics
FLGT
$558M
$485K 0.11%
18,478
-3,000
-14% -$77.8K
TCPC icon
80
BlackRock TCP Capital
TCPC
$274M
$465K 0.1%
+85,000
New +$490K
GSBD icon
81
Goldman Sachs BDC
GSBD
$1,000M
$464K 0.1%
+50,000
New +$490K
WHLRL
82
Wheeler Real Estate Investment Trust 7.00% Senior Subordinated Convertible Notes Due 2031
WHLRL
$461K 0.1%
5,271
– –
EMO
83
ClearBridge Energy Midstream Opportunity Fund
EMO
$1.02B
$426K 0.09%
+9,549
New +$417K
SKY icon
84
Champion Homes
SKY
$4.58B
$423K 0.09%
+5,000
New +$394K
SDHY
85
PGIM Short Duration High Yield Opportunities Fund
SDHY
$394M
$416K 0.09%
25,277
-13,838
-35% -$229K
NMFC icon
86
New Mountain Finance
NMFC
$668M
$414K 0.09%
+45,000
New +$425K
FRMM
87
Forum Markets
FRMM
$70.3M
$394K 0.09%
+80,408
New +$1.13M
CPZ
88
Calamos Long/Short Equity & Dynamic Income Trust
CPZ
$258M
$368K 0.08%
+25,204
New +$383K
CIM
89
Chimera Investment
CIM
$1.06B
$363K 0.08%
+29,177
New +$371K
MSDL icon
90
Morgan Stanley Direct Lending Fund
MSDL
$1.29B
$330K 0.07%
+20,000
New +$338K
HQL
91
abrdn Life Sciences Investors
HQL
$589M
$323K 0.07%
+19,239
New +$323K
EFR
92
Eaton Vance Senior Floating-Rate Fund
EFR
$312M
$321K 0.07%
+28,829
New +$323K
JQC icon
93
Nuveen Credit Strategies Income Fund
JQC
$702M
$318K 0.07%
+63,304
New +$322K
GBDC icon
94
Golub Capital BDC
GBDC
$3.38B
$271K 0.06%
+20,000
New +$277K
OPP
95
RiverNorth/DoubleLine Strategic Opportunity Fund
OPP
$190M
$270K 0.06%
+33,963
New +$275K
BIT icon
96
BlackRock Multi-Sector Income Trust
BIT
$696M
$255K 0.06%
19,543
-495,363
-96% -$6.54M
SWZ
97
Swiss Helvetia Fund
SWZ
$76.7M
$229K 0.05%
+36,781
New +$223K
BCSF icon
98
Bain Capital Specialty
BCSF
$833M
$209K 0.05%
+15,000
New +$210K
ETJ
99
Eaton Vance Risk-Managed Diversified Equity Income Fund
ETJ
$563M
$182K 0.04%
+20,661
New +$182K
RVT icon
100
Royce Value Trust
RVT
$2.22B
$168K 0.04%
+10,456
New +$168K
1 2 3
4
5

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HBT
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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 2025 Portfolio in Review

As of Q4 2025, Almitas Capital held 123 positions worth $454M, up 4% from $437M the previous quarter. Its ten largest holdings account for 63% of the portfolio.

Almitas Capital deployed $50.4M of net new capital in Q4 2025, opening 57 new positions and adding to 17 existing holdings. Its largest new stake was Elme Communities: 1,012,210 shares worth $17.6M.

By sector, the portfolio is most concentrated in Healthcare at 16% of assets, up from 14% a quarter earlier, followed by Real Estate and Financials.

On the sell side, the largest reduction was Fidelity Wise Origin Bitcoin Fund, an estimated $6.54M trimmed.

  • Almitas Capital's largest Q4 2025 buy was Elme Communities: 1,012,210 shares worth $17.6M.
  • Almitas Capital added most to Monroe Capital Corp in Q4 2025, an estimated $5.91M increase.
  • Almitas Capital's biggest Q4 2025 reduction was Fidelity Wise Origin Bitcoin Fund, cutting an estimated $6.54M.
  • Almitas Capital fully exited Pioneer Floating Rate Fund in Q4 2025, selling an estimated $6.97M.
  • Almitas Capital's ten largest holdings make up 63% of its $454M portfolio in Q4 2025.
  • Almitas Capital opened 57 new positions and closed 17 in Q4 2025.
  • Almitas Capital's portfolio value rose 4% quarter-over-quarter to $454M.

Based on Almitas Capital's 13F filing for Q4 2025, filed 17 Feb 2026.