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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
-9.96%
1 Year Est. Return
+42.36%
3 Year Est. Return
+85.86%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$134M
AUM Growth
-$59.5M
Cap. Flow
-$40.2M
Cap. Flow %
-30.01%
Top 10 Hldgs %
59.53%
Holding
124
New
10
Increased
20
Reduced
25
Closed
37

Top Buys

Rank Stock Value
1
ORC
Orchid Island Capital
ORC
+$16.2M
2
BCAT icon
BlackRock Capital Allocation Term Trust
BCAT
+$5.8M
3
NPCT icon
Nuveen Core Plus Impact Fund
NPCT
+$3.17M
4
NTG
Tortoise Midstream Energy Fund, Inc. Common Stock
NTG
+$2.02M
5
NXG
NXG NextGen Infrastructure Income Fund
NXG
+$1.94M

Top Sells

Rank Stock Value
1
AGNC icon
AGNC Investment
AGNC
+$22.6M
2
CRF
Cornerstone Total Return Fund
CRF
+$17.5M
3
CLM icon
Cornerstone Strategic Value Fund
CLM
+$4.19M
4
SABA
Saba Capital Income & Opportunities Fund II
SABA
+$3.71M
5
PFX icon
PhenixFIN
PFX
+$3.09M

Sector Composition

Rank Sector Weight
1 Real Estate 23.79%
2 Financials 18.5%
3 Communication Services 0.95%
4 Consumer Staples 0.47%
5 Consumer Discretionary 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IVR icon
101
Invesco Mortgage Capital
IVR
$769M
– –
-10,202
Closed -$150K
LDP icon
102
Cohen & Steers Duration Preferred & Income Fund
LDP
$599M
– –
-12,300
Closed -$243K
MFM
103
Aberdeen Municipal Income Fund
MFM
$221M
– –
-6,383
Closed -$35K
NBXG
104
Neuberger Next Generation Connectivity Fund Inc
NBXG
$1.15B
– –
-168,776
Closed -$1.67M
NMIH icon
105
NMI Holdings
NMIH
$3.34B
– –
-10,000
Closed -$167K
NZF icon
106
Nuveen Municipal Credit Income Fund
NZF
$2.42B
$0 ﹤0.01%
3
-100
-97% -$1.29K
PAXS
107
PIMCO Access Income Fund
PAXS
$663M
– –
-9,357
Closed -$148K
PDO
108
PIMCO Dynamic Income Opportunities Fund
PDO
$1.84B
– –
-57,735
Closed -$800K
PFSI icon
109
PennyMac Financial
PFSI
$4.45B
– –
-10,634
Closed -$465K
PHD
110
DELISTED
Pioneer Floating Rate Fund
PHD
– –
-29,946
Closed -$266K
RLTY icon
111
Cohen & Steers Real Estate Opportunities and Income Fund
RLTY
$270M
– –
-9,922
Closed -$160K
SPPP
112
Sprott Physical Platinum and Palladium Trust
SPPP
$566M
– –
-2,050
Closed -$27K
VPV icon
113
Invesco Pennsylvania Value Municipal Income Trust
VPV
$193M
– –
-5,100
Closed -$53K
WHLRD
114
Wheeler Real Estate Investment Trust Series D Preferred Stock
WHLRD
– –
-5,545
Closed -$73K
ZTR
115
Virtus Total Return Fund
ZTR
$340M
$0 ﹤0.01%
4
-6
-60% -$47
SBT
116
DELISTED
Sterling Bancorp, Inc. Common Stock
SBT
– –
-31,847
Closed -$181K
KMF
117
DELISTED
Kayne Anderson NextGen Energy & Infrastructure, Inc.
KMF
– –
-111,633
Closed -$838K
NBW
118
DELISTED
Neuberger Berman California Municipal Fund Inc.
NBW
– –
-5,000
Closed -$56K
ESM.WS
119
DELISTED
ESM Acquisition Corporation Redeemable warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50
ESM.WS
– –
-30,000
Closed -$5K
JCICU
120
DELISTED
Jack Creek Investment Corp. Units
JCICU
$0 ﹤0.01%
50
– –
SMM
121
DELISTED
Salient Midstream & MLP Fund
SMM
– –
-217,168
Closed -$1.64M
TTP
122
DELISTED
TORTOISE PIPELINE & ENERGY FUND, INC.
TTP
– –
-200
Closed -$5K
NBO
123
DELISTED
Neuberger Berman New York Municipal Fund Inc.
NBO
– –
-5,349
Closed -$53K
JSD
124
DELISTED
NUVEEN SHORT DURATION CREDIT OPPORTUNITIES FUND
JSD
– –
-78,785
Closed -$948K
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
Cornerstone Planning Charlotte, North Carolina $443M AUM
CMP
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PLU
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TC
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TAS
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Almitas Capital's Q3 2022 Portfolio in Review

As of Q3 2022, Almitas Capital held 124 positions worth $134M, down 31% from $193M the previous quarter. Its ten largest holdings account for 60% of the portfolio.

Almitas Capital withdrew a net $40.2M in Q3 2022, closing 37 positions and reducing 25 holdings. Its most notable exit was AGNC Investment, an estimated $22.6M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 24% of assets, down from 27% a quarter earlier, followed by Financials and Communication Services.

Against the trend, Almitas Capital opened a new position in Orchid Island Capital worth $9.55M.

  • Almitas Capital's largest Q3 2022 buy was Orchid Island Capital: 1,164,408 shares worth $9.55M.
  • Almitas Capital added most to BlackRock Capital Allocation Term Trust in Q3 2022, an estimated $5.8M increase.
  • Almitas Capital's biggest Q3 2022 reduction was Saba Capital Income & Opportunities Fund II, cutting an estimated $3.71M.
  • Almitas Capital fully exited AGNC Investment in Q3 2022, selling an estimated $22.6M.
  • Almitas Capital's ten largest holdings make up 60% of its $134M portfolio in Q3 2022.
  • Almitas Capital opened 10 new positions and closed 37 in Q3 2022.
  • Almitas Capital's portfolio value fell 31% quarter-over-quarter to $134M.

Based on Almitas Capital's 13F filing for Q3 2022, filed 14 Nov 2022.