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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
-6.08%
1 Year Est. Return
+22.81%
3 Year Est. Return
+86.09%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$301M
AUM Growth
-$155M
(-34%)
Cap. Flow
-$130M
Cap. Flow
% of AUM
-43.12%
Top 10 Holdings %
Top 10 Hldgs %
67.47%
Holding
106
New
15
Increased
35
Reduced
17
Closed
25
Avg Time Held Equity + Options
3.6
quarters
Top 10 Avg Time Held Equity + Options
1.1
quarters
Top 20 Avg Time Held Equity + Options
2.1
quarters
Avg Time Held Equity only
3.6
quarters
Top 10 Avg Time Held Equity only
1.1
quarters
Top 20 Avg Time Held Equity only
2.1
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Nektar Therapeutics
NKTR
|
+$3.21M |
| 2 |
Cannae Holdings
CNNE
|
+$2.71M |
| 3 |
Madison Square Garden
MSGS
|
+$2.05M |
| 4 |
DMF
BNY Mellon Municipal Income
DMF
|
+$1.98M |
| 5 |
Pimco California Municipal Income Fund
PCQ
|
+$1.85M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Fidelity Ethereum Fund
FETH
|
+$31.4M |
| 2 |
Blue Owl Capital Corporation III
OBDE
|
+$27.2M |
| 3 |
BlackRock Health Sciences Trust II
BMEZ
|
+$17.8M |
| 4 |
Grayscale Ethereum Staking Mini ETF Shares
ETH
|
+$16.2M |
| 5 |
Tortoise Electrification Infrastructure ETF
TPZ
|
+$11.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 84.08% |
| 2 | Healthcare | 10.11% |
| 3 | Real Estate | 2.48% |
| 4 | Financials | 1.82% |
| 5 | Consumer Discretionary | 0.87% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Fidelity Wise Origin Bitcoin Fund
FBTC
$15.4B
| $119M | 39.46% |
1,652,409
-79,585
| -5% | -$6.47M |
2024 Q3
2 quarters
|
|
2
BlackRock Municipal 2030 Target Term Trust
BTT
$1.38B
| $33.1M | 10.98% |
1,558,862
+57,801
| +4% | +$1.22M |
2024 Q2
3 quarters
|
|
3
DELISTED
Nuveen Pennsylvania Quality Municipal Income Fund
NQP
| $8.79M | 2.92% |
783,803
-38,839
| -5% | -$445K |
2022 Q4
9 quarters
|
|
|
DMF
4
DELISTED
BNY Mellon Municipal Income
DMF
| $7.77M | 2.58% |
1,081,956
+275,948
| +34% | +$1.98M |
2023 Q1
8 quarters
|
|
5
Amylyx Pharmaceuticals
AMLX
$3.37B
| $7.51M | 2.49% |
2,122,597
+90,227
| +4% | +$321K |
2024 Q2
3 quarters
|
|
|
ENX
6
DELISTED
Eaton Vance New York Municipal Bond Fund
ENX
| $6.63M | 2.2% |
698,195
| – | – |
2022 Q4
9 quarters
|
|
7
Design Therapeutics
DSGN
$612M
| $5.61M | 1.86% |
1,452,896
+129,229
| +10% | +$617K |
2023 Q4
5 quarters
|
|
8
SRH Total Return Fund
STEW
$1.71B
| $5.21M | 1.73% |
301,991
| – | – |
2022 Q3
10 quarters
|
|
9
BNY Mellon Strategic Municipal Bond Fund
DSM
$257M
| $4.91M | 1.63% |
851,087
+225,626
| +36% | +$1.33M |
2024 Q4
1 quarter
|
|
10
Mexico Fund
MXF
$292M
| $4.9M | 1.63% |
344,264
+26,418
| +8% | +$371K |
2022 Q4
9 quarters
|
|
11
Japan Smaller Capitalization Fund
JOF
$353M
| $4.29M | 1.42% |
511,819
+14,348
| +3% | +$114K |
2022 Q1
12 quarters
|
|
|
CXE
12
DELISTED
MFS High Income Municipal Trust
CXE
| $3.86M | 1.28% |
1,047,002
+125,165
| +14% | +$467K |
2023 Q3
6 quarters
|
|
|
CXH
13
DELISTED
MFS Investment Grade Municipal Trust
CXH
| $3.73M | 1.24% |
470,435
-7,019
| -1% | -$56.3K |
2022 Q4
9 quarters
|
|
14
DTF Tax-Free Income 2028 Term Fund
DTF
$79.3M
| $3.47M | 1.15% |
309,611
-12,821
| -4% | -$145K |
2022 Q4
9 quarters
|
|
15
PGIM Short Duration High Yield Opportunities Fund
SDHY
$375M
| $3.24M | 1.07% |
196,468
-265,630
| -57% | -$4.38M |
2022 Q4
9 quarters
|
|
|
16
Nektar Therapeutics
NKTR
$1.29B
| $3.14M | 1.04% |
307,391
+246,043
| +401% | +$3.21M |
2024 Q1
4 quarters
|
|
|
17
BlackRock Health Sciences Trust II
BMEZ
$1.01B
| $3.05M | 1.01% |
204,834
-1,134,764
| -85% | -$17.8M |
2023 Q3
6 quarters
|
|
18
NYLIM CBRE Global Infrastructure Megatrends Term Fund
MEGI
$728M
| $3.01M | 1% |
226,124
+65,223
| +41% | +$825K |
2024 Q4
1 quarter
|
|
19
Nuveen Core Plus Impact Fund
NPCT
$259M
| $2.88M | 0.96% |
269,668
| – | – |
2022 Q1
12 quarters
|
|
20
Zentalis Pharmaceuticals
ZNTL
$227M
| $2.72M | 0.9% |
1,710,921
+84,025
| +5% | +$181K |
2024 Q3
2 quarters
|
|
21
BrightSpire Capital
BRSP
$478M
| $2.66M | 0.88% |
478,415
+122,093
| +34% | +$713K |
2024 Q4
1 quarter
|
|
|
22
Cannae Holdings
CNNE
$682M
| $2.63M | 0.87% |
+143,651
| New | +$2.71M |
2025 Q1
0 quarters
|
|
23
Central and Eastern Europe Fund
CEE
$122M
| $2.6M | 0.86% |
180,190
| – | – |
2023 Q4
5 quarters
|
|
|
MAV
24
DELISTED
Pioneer Municipal High Income Advantage Fund
MAV
| $2.56M | 0.85% |
306,517
+61,511
| +25% | +$525K |
2023 Q4
5 quarters
|
|
25
Morgan Stanley India Investment Fund
IIF
$202M
| $2.55M | 0.85% |
104,744
+18,424
| +21% | +$445K |
2022 Q1
12 quarters
|
|
Similar funds
CWA
SCM
EWM
RA
CIM
MWM
VA
CWM
Almitas Capital's Q1 2025 Portfolio in Review
As of Q1 2025, Almitas Capital held 106 positions worth $301M, down 34% from $456M the previous quarter. Its ten largest holdings account for 67% of the portfolio.
Almitas Capital withdrew a net $130M in Q1 2025, closing 25 positions and reducing 17 holdings. Its most notable exit was Fidelity Ethereum Fund, an estimated $31.4M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 84% of assets, up from 80% a quarter earlier, followed by Healthcare and Real Estate.
Against the trend, Almitas Capital opened a new position in Cannae Holdings worth $2.63M.
- Almitas Capital's largest Q1 2025 buy was Cannae Holdings: 143,651 shares worth $2.63M.
- Almitas Capital added most to Nektar Therapeutics in Q1 2025, an estimated $3.21M increase.
- Almitas Capital's biggest Q1 2025 reduction was BlackRock Health Sciences Trust II, cutting an estimated $17.8M.
- Almitas Capital fully exited Fidelity Ethereum Fund in Q1 2025, selling an estimated $31.4M.
- Almitas Capital's ten largest holdings make up 67% of its $301M portfolio in Q1 2025.
- Almitas Capital opened 15 new positions and closed 25 in Q1 2025.
- Almitas Capital's portfolio value fell 34% quarter-over-quarter to $301M.
Based on Almitas Capital's 13F filing for Q1 2025, filed 15 May 2025.