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Almitas Capital Portfolio holdings

AUM $417M
1-Year Est. Return 22.81%
This Fund
S&P 500
This Quarter Est. Return
+1.58%
1 Year Est. Return
+22.81%
3 Year Est. Return
+86.09%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$234M
AUM Growth
+$24.7M
Cap. Flow
+$7.57M
Cap. Flow %
3.24%
Top 10 Hldgs %
48.23%
Holding
118
New
21
Increased
42
Reduced
15
Closed
26

Top Buys

Rank Stock Value
1
NLY icon
Annaly Capital Management
NLY
+$8.78M
2
HIE
Miller/Howard High Income Equity Fund
HIE
+$7.93M
3
SABA
Saba Capital Income & Opportunities Fund II
SABA
+$4.06M
4
BBDC icon
Barings BDC
BBDC
+$3.87M
5
NPCT icon
Nuveen Core Plus Impact Fund
NPCT
+$3.16M

Top Sells

Rank Stock Value
1
BRSP
BrightSpire Capital
BRSP
+$6.92M
2
PNNT
Pennant Park Investment Corp
PNNT
+$6.53M
3
NIQ
NUVEEN INTERMEDIATE DURATION QUALITY MUNICIPAL TERM FUND
NIQ
+$6.17M
4
CCIF
Carlyle Credit Income Fund
CCIF
+$5.36M
5
FSCO
FS Credit Opportunities Corp
FSCO
+$4.06M

Sector Composition

Rank Sector Weight
1 Miscellaneous 77.46%
2 Real Estate 14.59%
3 Financials 7.21%
4 Communication Services 0.42%
5 Technology 0.32%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AJXA
1
DELISTED
Great Ajax Corp.7.25% Convertible Senior Notes due 2024
AJXA
$19.4M 8.28%
786,337
– –
ECAT icon
2
BlackRock ESG Capital Allocation Term Trust
ECAT
$1.52B
$17.4M 7.43%
1,086,262
-13,618
-1% -$211K
NPCT icon
3
Nuveen Core Plus Impact Fund
NPCT
$279M
$14M 5.98%
1,378,772
+313,591
+29% +$3.16M
NLY icon
4
Annaly Capital Management
NLY
$17.2B
$13.6M 5.83%
679,400
+451,868
+199% +$8.78M
SABA
5
Saba Capital Income & Opportunities Fund II
SABA
$220M
$10.6M 4.55%
1,240,047
+482,747
+64% +$4.06M
HIE
6
DELISTED
Miller/Howard High Income Equity Fund
HIE
$10.6M 4.55%
1,014,629
+794,536
+361% +$7.93M
BFZ
7
DELISTED
BlackRock CA Municipal Income Trust
BFZ
$8.56M 3.66%
738,499
-9,674
-1% -$114K
BRSP
8
BrightSpire Capital
BRSP
$592M
$6.55M 2.8%
889,397
-1,166,318
-57% -$6.92M
CEN
9
DELISTED
Center Coast Brookfield MLP & Energy Infrastructure Fund
CEN
$6.12M 2.61%
295,700
– –
NTG
10
DELISTED
Tortoise Midstream Energy Fund, Inc. Common Stock
NTG
$5.94M 2.54%
166,623
+13,925
+9% +$463K
BBDC icon
11
Barings BDC
BBDC
$944M
$5.07M 2.17%
607,352
+504,020
+488% +$3.87M
RPT
12
Rithm Property Trust
RPT
$101M
$4.97M 2.12%
120,035
+10,238
+9% +$368K
CTR
13
DELISTED
ClearBridge MLP and Midstream Total Return Fund Inc.
CTR
$4.95M 2.12%
146,706
+22,369
+18% +$661K
GAM
14
General American Investors Company
GAM
$1.58B
$4.68M 2%
109,864
+100
+0.1% +$3.98K
ENX
15
DELISTED
Eaton Vance New York Municipal Bond Fund
ENX
$4.38M 1.87%
451,498
+89,685
+25% +$853K
ADAM
16
Adamas Trust
ADAM
$876M
$4.15M 1.77%
408,845
– –
CXH
17
DELISTED
MFS Investment Grade Municipal Trust
CXH
$3.91M 1.67%
513,340
+182,138
+55% +$1.33M
JHAA
18
DELISTED
Nuveen Corporate Income 2023 Target Term Fund
JHAA
$3.88M 1.66%
413,984
+115,674
+39% +$1.07M
MPV
19
Barings Participation Investors
MPV
$184M
$3.63M 1.55%
272,182
+124,492
+84% +$1.57M
NXG
20
NXG NextGen Infrastructure Income Fund
NXG
$409M
$3.48M 1.49%
87,784
+65,285
+290% +$2.41M
EVM
21
DELISTED
Eaton Vance California Municipal Bond Fund
EVM
$3.22M 1.38%
360,526
+100,583
+39% +$892K
SDHY
22
PGIM Short Duration High Yield Opportunities Fund
SDHY
$394M
$2.81M 1.2%
183,807
+170,153
+1,246% +$2.52M
TYG
23
Tortoise Energy Infrastructure Corp
TYG
$897M
$2.62M 1.12%
85,273
+70,029
+459% +$2.02M
MXF
24
Mexico Fund
MXF
$311M
$2.52M 1.08%
140,329
+69,306
+98% +$1.16M
GER
25
DELISTED
Goldman Sachs MLP Energy Renaissance Fund
GER
$2.49M 1.07%
159,089
+15,605
+11% +$215K
1
2 3 4 5

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SCM
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EWM
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RA
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MWM
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VA
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CWM
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LWMNY
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Almitas Capital's Q2 2023 Portfolio in Review

As of Q2 2023, Almitas Capital held 118 positions worth $234M, up 12% from $209M the previous quarter. Its ten largest holdings account for 48% of the portfolio.

Almitas Capital deployed $7.57M of net new capital in Q2 2023, opening 21 new positions and adding to 42 existing holdings. Its largest new stake was abrdn Total Dynamic Dividend Fund: 280,447 shares worth $2.35M.

By sector, the portfolio is most concentrated in Miscellaneous at 77% of assets, up from 71% a quarter earlier, followed by Real Estate and Financials.

On the sell side, the largest reduction was BrightSpire Capital, an estimated $6.92M trimmed.

  • Almitas Capital's largest Q2 2023 buy was abrdn Total Dynamic Dividend Fund: 280,447 shares worth $2.35M.
  • Almitas Capital added most to Annaly Capital Management in Q2 2023, an estimated $8.78M increase.
  • Almitas Capital's biggest Q2 2023 reduction was BrightSpire Capital, cutting an estimated $6.92M.
  • Almitas Capital fully exited Pennant Park Investment Corp in Q2 2023, selling an estimated $6.53M.
  • Almitas Capital's ten largest holdings make up 48% of its $234M portfolio in Q2 2023.
  • Almitas Capital opened 21 new positions and closed 26 in Q2 2023.
  • Almitas Capital's portfolio value rose 12% quarter-over-quarter to $234M.

Based on Almitas Capital's 13F filing for Q2 2023, filed 11 Aug 2023.