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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
+5.26%
1 Year Est. Return
+42.36%
3 Year Est. Return
+85.86%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$217M
AUM Growth
+$83.1M
Cap. Flow
+$67.1M
Cap. Flow %
30.93%
Top 10 Hldgs %
48.37%
Holding
153
New
60
Increased
25
Reduced
16
Closed
24

Top Buys

Rank Stock Value
1
ECAT icon
BlackRock ESG Capital Allocation Term Trust
ECAT
+$18.4M
2
BCAT icon
BlackRock Capital Allocation Term Trust
BCAT
+$7.38M
3
SABA
Saba Capital Income & Opportunities Fund II
SABA
+$6.12M
4
NID
NUVEEN INTERMEDIATE DURATION MUNICIPAL TERM FUND
NID
+$5.66M
5
DX
Dynex Capital
DX
+$3.71M

Top Sells

Rank Stock Value
1
ORC
Orchid Island Capital
ORC
+$6.74M
2
TYG
Tortoise Energy Infrastructure Corp
TYG
+$3.2M
3
NTG
Tortoise Midstream Energy Fund, Inc. Common Stock
NTG
+$3.15M
4
SRV
NXG Cushing Midstream Energy Fund
SRV
+$1.53M
5
JQC icon
Nuveen Credit Strategies Income Fund
JQC
+$1.44M

Sector Composition

Rank Sector Weight
1 Real Estate 14.27%
2 Financials 12.96%
3 Communication Services 0.48%
4 Consumer Staples 0.27%
5 Consumer Discretionary 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ECAT icon
1
BlackRock ESG Capital Allocation Term Trust
ECAT
$1.54B
$23.5M 10.83%
1,749,189
+1,345,929
+334% +$18.4M
AJXA
2
DELISTED
Great Ajax Corp.7.25% Convertible Senior Notes due 2024
AJXA
$16.5M 7.61%
689,408
– –
PNNT
3
Pennant Park Investment Corp
PNNT
$215M
$14M 6.46%
2,438,368
-196,370
-7% -$1.15M
BCAT icon
4
BlackRock Capital Allocation Term Trust
BCAT
$1.65B
$12.8M 5.92%
925,786
+522,673
+130% +$7.38M
SABA
5
Saba Capital Income & Opportunities Fund II
SABA
$225M
$8.35M 3.85%
964,189
+729,390
+311% +$6.12M
MFA
6
MFA Financial
MFA
$944M
$7.87M 3.63%
798,941
-102,352
-11% -$1.03M
NID
7
DELISTED
NUVEEN INTERMEDIATE DURATION MUNICIPAL TERM FUND
NID
$5.83M 2.69%
+444,384
New +$5.66M
NTG
8
DELISTED
Tortoise Midstream Energy Fund, Inc. Common Stock
NTG
$5.64M 2.6%
163,155
-87,970
-35% -$3.15M
ORC
9
Orchid Island Capital
ORC
$1.35B
$5.29M 2.44%
503,403
-661,005
-57% -$6.74M
CEN
10
DELISTED
Center Coast Brookfield MLP & Energy Infrastructure Fund
CEN
$5.13M 2.36%
295,700
+73,104
+33% +$1.27M
RPT
11
Rithm Property Trust
RPT
$101M
$4.78M 2.2%
109,797
-973
-0.9% -$45.4K
CCIF
12
Carlyle Credit Income Fund
CCIF
$57.7M
$4.76M 2.19%
546,229
– –
NPCT icon
13
Nuveen Core Plus Impact Fund
NPCT
$282M
$4.65M 2.14%
449,125
+87,378
+24% +$916K
DX
14
Dynex Capital
DX
$2.79B
$3.82M 1.76%
+300,027
New +$3.71M
ADAM
15
Adamas Trust
ADAM
$793M
$3.54M 1.63%
345,762
– –
GAM
16
General American Investors Company
GAM
$1.54B
$3.01M 1.39%
83,198
+54,088
+186% +$1.96M
CTR
17
DELISTED
ClearBridge MLP and Midstream Total Return Fund Inc.
CTR
$2.94M 1.36%
104,171
+46,230
+80% +$1.36M
WIW
18
Western Asset Inflation-Linked Opportunities & Income Fund
WIW
$513M
$2.68M 1.23%
293,457
+292,857
+48,810% +$2.74M
LADR
19
Ladder Capital
LADR
$1.24B
$2.64M 1.22%
263,256
-29,816
-10% -$309K
MPV
20
Barings Participation Investors
MPV
$166M
$2.59M 1.19%
210,011
+79,018
+60% +$954K
SFE
21
DELISTED
Safeguard Scientifics, Inc.
SFE
$2.47M 1.14%
796,632
+83,187
+12% +$280K
ENX
22
DELISTED
Eaton Vance New York Municipal Bond Fund
ENX
$2.38M 1.1%
+264,560
New +$2.32M
ASA
23
ASA Gold and Precious Metals
ASA
$980M
$2.33M 1.07%
+162,811
New +$2.2M
BKCC
24
DELISTED
BlackRock Capital Investment Corporation
BKCC
$2.23M 1.03%
617,014
+449,235
+268% +$1.66M
RDN icon
25
Radian Group
RDN
$5.1B
$2.13M 0.98%
111,917
– –
1
2 3 4 5

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HBT
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EFMC
Empire Financial Management Company New York $442M AUM 24.42% 1-Year Est. Return
CMAI
Capital Management Associates Inc Minneapolis, Minnesota $442M AUM 17.91% 1-Year Est. Return
BFA
Beacon Financial Advisory Cleveland, Ohio $443M AUM 17.02% 1-Year Est. Return
GWM
GSB Wealth Management Guilford, Connecticut $443M AUM 17.59% 1-Year Est. Return
CP
Cornerstone Planning Charlotte, North Carolina $443M AUM
CMP
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PLU
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Almitas Capital's Q4 2022 Portfolio in Review

As of Q4 2022, Almitas Capital held 153 positions worth $217M, up 62% from $134M the previous quarter. Its ten largest holdings account for 48% of the portfolio.

Almitas Capital deployed $67.1M of net new capital in Q4 2022, opening 60 new positions and adding to 25 existing holdings. Its largest new stake was NUVEEN INTERMEDIATE DURATION MUNICIPAL TERM FUND: 444,384 shares worth $5.83M.

By sector, the portfolio is most concentrated in Real Estate at 14% of assets, down from 24% a quarter earlier, followed by Financials and Communication Services.

On the sell side, the largest reduction was Orchid Island Capital, an estimated $6.74M trimmed.

  • Almitas Capital's largest Q4 2022 buy was NUVEEN INTERMEDIATE DURATION MUNICIPAL TERM FUND: 444,384 shares worth $5.83M.
  • Almitas Capital added most to BlackRock ESG Capital Allocation Term Trust in Q4 2022, an estimated $18.4M increase.
  • Almitas Capital's biggest Q4 2022 reduction was Orchid Island Capital, cutting an estimated $6.74M.
  • Almitas Capital fully exited Nuveen Credit Strategies Income Fund in Q4 2022, selling an estimated $1.44M.
  • Almitas Capital's ten largest holdings make up 48% of its $217M portfolio in Q4 2022.
  • Almitas Capital opened 60 new positions and closed 24 in Q4 2022.
  • Almitas Capital's portfolio value rose 62% quarter-over-quarter to $217M.

Based on Almitas Capital's 13F filing for Q4 2022, filed 14 Feb 2023.