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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
-2.76%
1 Year Est. Return
+22.81%
3 Year Est. Return
+86.09%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$443M
AUM Growth
-$11.6M
(-2.6%)
Cap. Flow
+$39.4M
Cap. Flow
% of AUM
8.89%
Top 10 Holdings %
Top 10 Hldgs %
57.81%
Holding
137
New
31
Increased
31
Reduced
16
Closed
22
Avg Time Held
2.8
quarters
Top 10 Avg Time Held
2.5
quarters
Top 20 Avg Time Held
2.4
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
ASA Gold and Precious Metals
ASA
|
+$9.69M |
| 2 |
Bio-Rad Laboratories Class A
BIO
|
+$8.71M |
| 3 |
Nuveen Pennsylvania Quality Municipal Income Fund
NQP
|
+$8.22M |
| 4 |
PIMCO Dynamic Income Strategy Fund
PDX
|
+$7.91M |
| 5 |
Cornerstone Total Return Fund
CRF
|
+$7.73M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Fidelity Ethereum Fund
FETH
|
+$19.2M |
| 2 |
FS Specialty Lending Fund
FSSL
|
+$6.95M |
| 3 |
iShares Ethereum Trust ETF
ETHA
|
+$4.92M |
| 4 |
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
|
+$4.84M |
| 5 |
Armour Residential REIT
ARR
|
+$3.84M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 65.84% |
| 2 | Healthcare | 19.22% |
| 3 | Financials | 5.65% |
| 4 | Real Estate | 4.84% |
| 5 | Consumer Discretionary | 2.1% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Fidelity Wise Origin Bitcoin Fund
FBTC
$15.4B
| $90.7M | 20.5% |
1,536,637
| – | – |
2024 Q3
6 quarters
|
|
2
BlackRock Municipal 2030 Target Term Trust
BTT
$1.38B
| $33.7M | 7.62% |
1,486,013
| – | – |
2024 Q2
7 quarters
|
|
|
3
ASA Gold and Precious Metals
ASA
$991M
| $32.6M | 7.37% |
525,666
+143,527
| +38% | +$9.69M |
2025 Q3
2 quarters
|
|
4
Amylyx Pharmaceuticals
AMLX
$3.37B
| $29.5M | 6.67% |
2,122,597
| – | – |
2024 Q2
7 quarters
|
|
5
Design Therapeutics
DSGN
$612M
| $16.3M | 3.68% |
1,530,335
-100
| -0% | -$1.01K |
2023 Q4
9 quarters
|
|
|
6
DELISTED
Nuveen Pennsylvania Quality Municipal Income Fund
NQP
| $12.6M | 2.85% |
1,057,494
+688,699
| +187% | +$8.22M |
2022 Q4
13 quarters
|
|
|
7
PIMCO Dynamic Income Strategy Fund
PDX
$916M
| $11.9M | 2.7% |
541,492
+390,232
| +258% | +$7.91M |
2025 Q4
1 quarter
|
|
8
Lyell Immunopharma
LYEL
$184M
| $11.6M | 2.62% |
577,807
| – | – |
2024 Q4
5 quarters
|
|
|
9
Bio-Rad Laboratories Class A
BIO
$9.73B
| $8.43M | 1.91% |
+30,254
| New | +$8.71M |
2026 Q1
0 quarters
|
|
10
Cannae Holdings
CNNE
$682M
| $8.43M | 1.9% |
741,318
+329,425
| +80% | +$4.42M |
2025 Q1
4 quarters
|
|
|
11
Cornerstone Total Return Fund
CRF
$1.06B
| $7.75M | 1.75% |
1,115,348
+1,028,931
| +1,191% | +$7.73M |
2025 Q4
1 quarter
|
|
12
BlackRock Health Sciences Trust II
BMEZ
$1.01B
| $7.27M | 1.64% |
506,395
+353,481
| +231% | +$5.25M |
2025 Q4
1 quarter
|
|
13
ALX Oncology
ALXO
$135M
| $6.36M | 1.44% |
3,173,834
+636,943
| +25% | +$1.21M |
2024 Q4
5 quarters
|
|
14
BrightSpire Capital
BRSP
$478M
| $5.69M | 1.29% |
1,015,903
-13,561
| -1% | -$78.5K |
2024 Q4
5 quarters
|
|
15
BNY Mellon Strategic Municipal Bond Fund
DSM
$257M
| $5.57M | 1.26% |
926,301
| – | – |
2024 Q4
5 quarters
|
|
|
CMU
16
DELISTED
MFS High Yield Municipal Trust
CMU
| $5.36M | 1.21% |
1,497,718
| – | – |
2023 Q4
9 quarters
|
|
17
Pimco California Municipal Income Fund
PCQ
$148M
| $5.29M | 1.2% |
617,015
-23,592
| -4% | -$210K |
2025 Q1
4 quarters
|
|
18
Elme Communities
ELME
$156M
| $5.24M | 1.18% |
2,607,372
+1,595,162
| +158% | +$5.26M |
2025 Q4
1 quarter
|
|
19
DELISTED
Monroe Capital Corp
MRCC
| $5.18M | 1.17% |
1,277,717
+278,673
| +28% | +$1.61M |
2025 Q3
2 quarters
|
|
20
AN2 Therapeutics
ANTX
$136M
| $5.06M | 1.14% |
1,479,129
| – | – |
2024 Q4
5 quarters
|
|
|
CXE
21
DELISTED
MFS High Income Municipal Trust
CXE
| $4.7M | 1.06% |
1,266,853
+72,967
| +6% | +$276K |
2023 Q3
10 quarters
|
|
22
NYLIM CBRE Global Infrastructure Megatrends Term Fund
MEGI
$728M
| $4.64M | 1.05% |
316,133
+254,480
| +413% | +$3.71M |
2025 Q4
1 quarter
|
|
23
Japan Smaller Capitalization Fund
JOF
$353M
| $4.39M | 0.99% |
402,956
-33,029
| -8% | -$377K |
2022 Q1
16 quarters
|
|
24
Crescent Capital BDC
CCAP
$337M
| $4.34M | 0.98% |
356,905
-87,329
| -20% | -$1.19M |
2025 Q1
4 quarters
|
|
25
DTF Tax-Free Income 2028 Term Fund
DTF
$79.3M
| $4.07M | 0.92% |
355,089
+4,149
| +1% | +$47.5K |
2022 Q4
13 quarters
|
|
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Almitas Capital's Q1 2026 Portfolio in Review
As of Q1 2026, Almitas Capital held 137 positions worth $443M, down 2.6% from $454M the previous quarter. Its ten largest holdings account for 58% of the portfolio.
Almitas Capital deployed $39.4M of net new capital in Q1 2026, opening 31 new positions and adding to 31 existing holdings. Its largest new stake was Bio-Rad Laboratories Class A: 30,254 shares worth $8.43M.
By sector, the portfolio is most concentrated in Miscellaneous at 66% of assets, up from 64% a quarter earlier, followed by Healthcare and Financials.
On the sell side, the largest reduction was FS Specialty Lending Fund, an estimated $6.95M trimmed.
- Almitas Capital's largest Q1 2026 buy was Bio-Rad Laboratories Class A: 30,254 shares worth $8.43M.
- Almitas Capital added most to ASA Gold and Precious Metals in Q1 2026, an estimated $9.69M increase.
- Almitas Capital's biggest Q1 2026 reduction was FS Specialty Lending Fund, cutting an estimated $6.95M.
- Almitas Capital fully exited Fidelity Ethereum Fund in Q1 2026, selling an estimated $19.2M.
- Almitas Capital's ten largest holdings make up 58% of its $443M portfolio in Q1 2026.
- Almitas Capital opened 31 new positions and closed 22 in Q1 2026.
- Almitas Capital's portfolio value fell 2.6% quarter-over-quarter to $443M.
Based on Almitas Capital's 13F filing for Q1 2026, filed 15 May 2026.