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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
-2.62%
1 Year Est. Return
+42.36%
3 Year Est. Return
+85.86%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$209M
AUM Growth
-$25.1M
Cap. Flow
-$11.9M
Cap. Flow %
-5.72%
Top 10 Hldgs %
48.49%
Holding
108
New
18
Increased
28
Reduced
27
Closed
20

Top Buys

Rank Stock Value
1
PDX
PIMCO Dynamic Income Strategy Fund
PDX
+$4.08M
2
FDEU
First Trust Dynamic Europe Equity Income Fund
FDEU
+$3.91M
3
AJXA
Great Ajax Corp.7.25% Convertible Senior Notes due 2024
AJXA
+$2.63M
4
SABA
Saba Capital Income & Opportunities Fund II
SABA
+$2.54M
5
NQP
Nuveen Pennsylvania Quality Municipal Income Fund
NQP
+$2.22M

Top Sells

Rank Stock Value
1
NLY icon
Annaly Capital Management
NLY
+$13.6M
2
BBDC icon
Barings BDC
BBDC
+$5.13M
3
MPV
Barings Participation Investors
MPV
+$3.18M
4
GER
Goldman Sachs MLP Energy Renaissance Fund
GER
+$2.49M
5
BFZ
BlackRock CA Municipal Income Trust
BFZ
+$2.37M

Sector Composition

Rank Sector Weight
1 Real Estate 8.34%
2 Financials 3.4%
3 Technology 1.23%
4 Communication Services 0.33%
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
$21.6M 10.32%
893,646
+107,309
+14% +$2.63M
ECAT icon
2
BlackRock ESG Capital Allocation Term Trust
ECAT
$1.53B
$14.8M 7.07%
997,868
-88,394
-8% -$1.36M
NPCT icon
3
Nuveen Core Plus Impact Fund
NPCT
$281M
$14M 6.69%
1,524,947
+146,175
+11% +$1.43M
SABA
4
Saba Capital Income & Opportunities Fund II
SABA
$222M
$12M 5.73%
1,548,908
+308,861
+25% +$2.54M
HIE
5
DELISTED
Miller/Howard High Income Equity Fund
HIE
$10.5M 5.04%
1,061,308
+46,679
+5% +$472K
CEN
6
DELISTED
Center Coast Brookfield MLP & Energy Infrastructure Fund
CEN
$6.27M 3%
295,700
– –
PDX
7
PIMCO Dynamic Income Strategy Fund
PDX
$942M
$6.04M 2.89%
304,821
+242,035
+385% +$4.08M
NTG
8
DELISTED
Tortoise Midstream Energy Fund, Inc. Common Stock
NTG
$5.54M 2.65%
162,123
-4,500
-3% -$159K
BFZ
9
DELISTED
BlackRock CA Municipal Income Trust
BFZ
$5.44M 2.6%
528,375
-210,124
-28% -$2.37M
RPT
10
Rithm Property Trust
RPT
$82.6M
$5.2M 2.49%
134,604
+14,569
+12% +$589K
ENX
11
DELISTED
Eaton Vance New York Municipal Bond Fund
ENX
$4.76M 2.28%
574,428
+122,930
+27% +$1.13M
BRSP
12
BrightSpire Capital
BRSP
$694M
$4.73M 2.27%
755,710
-133,687
-15% -$915K
GAM
13
General American Investors Company
GAM
$1.54B
$4.66M 2.23%
119,406
+9,542
+9% +$397K
CTR
14
DELISTED
ClearBridge MLP and Midstream Total Return Fund Inc.
CTR
$4.05M 1.94%
126,266
-20,440
-14% -$667K
JHAA
15
DELISTED
Nuveen Corporate Income 2023 Target Term Fund
JHAA
$3.95M 1.89%
413,984
– –
FDEU
16
DELISTED
First Trust Dynamic Europe Equity Income Fund
FDEU
$3.94M 1.89%
317,469
+300,271
+1,746% +$3.91M
CXH
17
DELISTED
MFS Investment Grade Municipal Trust
CXH
$3.84M 1.84%
542,641
+29,301
+6% +$217K
NQP
18
DELISTED
Nuveen Pennsylvania Quality Municipal Income Fund
NQP
$3.5M 1.68%
344,236
+202,262
+142% +$2.22M
NXG
19
NXG NextGen Infrastructure Income Fund
NXG
$335M
$3.46M 1.66%
92,355
+4,571
+5% +$174K
ADAM
20
Adamas Trust
ADAM
$793M
$3.34M 1.6%
392,845
-16,000
-4% -$151K
EVM
21
DELISTED
Eaton Vance California Municipal Bond Fund
EVM
$3.31M 1.58%
407,541
+47,015
+13% +$410K
BKCC
22
DELISTED
BlackRock Capital Investment Corporation
BKCC
$3.17M 1.52%
853,697
+383,363
+82% +$1.38M
SDHY
23
PGIM Short Duration High Yield Opportunities Fund
SDHY
$396M
$2.78M 1.33%
192,161
+8,354
+5% +$126K
VMW
24
DELISTED
VMware, Inc
VMW
$2.57M 1.23%
15,408
+10,646
+224% +$1.71M
MXF
25
Mexico Fund
MXF
$309M
$2.56M 1.23%
155,646
+15,317
+11% +$264K
1
2 3 4 5

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HBT
Heartland Bank & Trust Bloomington, Illinois $442M AUM 28.29% 1-Year Est. Return
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
Coston McIsaac & Partners Bar Harbor, Maine $443M AUM 6.68% 1-Year Est. Return
PLU
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Almitas Capital's Q3 2023 Portfolio in Review

As of Q3 2023, Almitas Capital held 108 positions worth $209M, down 11% from $234M the previous quarter. Its ten largest holdings account for 48% of the portfolio.

Almitas Capital withdrew a net $11.9M in Q3 2023, closing 20 positions and reducing 27 holdings. Its most notable exit was Annaly Capital Management, an estimated $13.6M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 8.3% of assets, down from 15% a quarter earlier, followed by Financials and Technology.

Against the trend, Almitas Capital opened a new position in Destra Multi-Alternative Fund worth $2.13M.

  • Almitas Capital's largest Q3 2023 buy was Destra Multi-Alternative Fund: 356,014 shares worth $2.13M.
  • Almitas Capital added most to PIMCO Dynamic Income Strategy Fund in Q3 2023, an estimated $4.08M increase.
  • Almitas Capital's biggest Q3 2023 reduction was Barings BDC, cutting an estimated $5.13M.
  • Almitas Capital fully exited Annaly Capital Management in Q3 2023, selling an estimated $13.6M.
  • Almitas Capital's ten largest holdings make up 48% of its $209M portfolio in Q3 2023.
  • Almitas Capital opened 18 new positions and closed 20 in Q3 2023.
  • Almitas Capital's portfolio value fell 11% quarter-over-quarter to $209M.

Based on Almitas Capital's 13F filing for Q3 2023, filed 14 Nov 2023.