SEC 13F Intelligence

Managers / Q1 2019 · view latest →

Almitas Capital LLC

CIK 0001596468 · 1335 4TH STREET, SUITE 400, SANTA MONICA, CA, 90401 · 310-573-4343

Reported Value
$140M
Q1 2019
Positions
60
Filings on Record
28
2019–present window
Filed
May 14, 2019
original filing

Summary

Almitas Capital LLC reported $140M in U.S.-listed holdings across 60 positions for Q1 2019.

Its largest position, EFCUSD, represents 12.0% of the portfolio.

Compared with Q4 2018, the fund opened 13 new positions and exited 38.

Portfolio Metrics

Turnover
+37.0%
vs prior filed quarter
Top-10 Concentration
+58.1%
share of reported value
Largest Position
+12.0%
Ellington Financial
New / Exited
13 / 38
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $148MQ4 ’18Q1 ’19: $140MQ2 ’19: $96MQ3 ’19: $93MQ4 ’19: $115MQ4 ’19Q1 ’20: $45MQ2 ’20: $80MQ3 ’20: $74MQ4 ’20: $99MQ4 ’20Q1 ’22: $168MQ2 ’22: $193MQ3 ’22: $134MQ4 ’22: $217MQ4 ’22Q1 ’23: $209MQ2 ’23: $234MQ3 ’23: $209MQ4 ’23: $290MQ4 ’23Q1 ’24: $242MQ2 ’24: $241MQ3 ’24: $283MQ4 ’24: $456MQ4 ’24Q1 ’25: $301MQ2 ’25: $396MQ3 ’25: $867MQ4 ’25: $454MQ4 ’25Q1 ’26: $443Mfilingsflow.com

Portfolio Composition

By security type
Closed-End Fund: 33.2%Common Stock: 26.4%Other: 22.7%REIT: 13.8%ETP: 2.4%Other: 1.6%
  • Closed-End Fund · 33.2% · $46M
  • Common Stock · 26.4% · $37M
  • Other · 22.7% · $32M
  • REIT · 13.8% · $19M
  • ETP · 2.4% · $3M
  • Other · 1.6% · $2M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2018 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
EFCUSDEllington Financial IncNEW+937.5K937.5K+$17M$17M
RCReady Capital CorpNEW+667.4K667.4K+$10M$10M
iShares MBS ETFNEW+13.3K13.3K+$1M$1M
Eaton Vance Floating-Rate Income Plus FundNEW+56.2K56.2K+$832,000$832,000
ClearBridge Energy Midstream Opportunity Fund IncNEW+64.3K64.3K+$618,000$618,000
ANHAnworth Mortgage Asset CorporationNEW+114.1K114.1K+$461,000$461,000
Eaton Vance New York Municipal Income TrustNEW+32.2K32.2K+$398,000$398,000
BlackRock New York Municipal Income Quality TrustNEW+28.2K28.2K+$361,000$361,000

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2019

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1EFCUSDEllington Financial Inchistory →COM11.98%$17M937.5K
2BlackRock MuniHoldings California QlCOM8.47%$12M895.6K
3FSICUSDFS KKR Capital Corphistory →COM7.11%$10M1.64M
4RCReady Capital Corphistory →COM6.99%$10M667.4K
5DSUBlackRock Debt Strategies Fund Inchistory →COM6.11%$9M798.7K
6Great Ajax CorpCOM4.51%$6M460.1K
7MVCMVC Capital Inchistory →COM3.67%$5M566.2K
8Safeguard Scientifics IncCOM3.12%$4M403.0K
9BlackRock California Municipal Income TSH BEN INT3.11%$4M339.3K
10Adecoagro S ACOM3.01%$4M611.1K
11First Trust High Income L/S FdCOM2.65%$4M253.7K
12MFA Financial IncCOM2.64%$4M508.8K
13Nuveen Michigan Quality Mun IncCOM2.11%$3M223.7K
14BrandywineGbl Global Income OprtCOM1.95%$3M245.7K
15TLIWestern Asset Corporate Loan Fhistory →COM1.89%$3M280.0K
16Highland Floating Rate OpportSHS BEN INT1.79%$3M180.8K
17Alliance California Municipal Income FdCOM1.79%$3M169.8K
18BRK/ABerkshire Hathaway Inchistory →COM1.72%$2M8
19Exantas Capital CorpCOM NEW1.67%$2M220.4K
20FTFranklin Universal Trusthistory →COM1.65%$2M328.8K
21Eaton Vance California Municipal Income TSH BEN INT1.46%$2M170.1K
22Resource Cap CorpNOTE 4.500% 8/11.40%$2M2.00M
23MTGMGIC Investment Corphistory →COM1.30%$2M137.8K
24XPHDXPioneer Floating Rate Trusthistory →COM1.25%$2M167.8K
25Nuveen North Carolina Quality MCOM1.23%$2M135.1K
26Global X MLP ETFCOM1.22%$2M191.9K
27RESIEURFront Yard Residential Corphistory →REIT1.20%$2M181.0K
28iShares MBS ETFCOM1.01%$1M13.3K
29Nuveen Inter Duration Qual Mun TRMCOM0.94%$1M100.3K
30Hunt Cos Finance Trust IncCOM0.93%$1M373.2K
31BlackRock Muni New York Inter DurCOM0.78%$1M80.0K
32First Trust Senior Floating Rate Income FdCOM0.73%$1M86.1K
33Eaton Vance California Municipal Bond FdCOM0.70%$982,00093.1K
34Salient Midstream & MLP FundSH BEN INT0.65%$916,00099.7K
35Eaton Vance Floating-Rate Income Plus FundCOM0.59%$832,00056.2K
36BlackRock MuniYield California QltyCOM0.57%$795,00059.1K
37MXFMexico Fund IncCOM0.53%$744,00053.7K
38General American Investors CoCOM0.52%$733,00022.0K
39AEFAberdeen Emerging Markets Equity IncomeCOM0.48%$666,00091.6K
40BlackRock New York Municipal BondCOM0.46%$638,00045.1K
41EHIWestern Asset Gl Hi IncomeCOM0.45%$631,00067.2K
42ClearBridge Energy Midstream Opportunity Fund IncCOM0.44%$618,00064.3K
43ANHAnworth Mortgage Asset CorporationCOM0.33%$461,000114.1K
44MXEMexico Equity & Income Fund InCOM0.29%$401,00037.7K
45Eaton Vance New York Municipal Income TrustCOM0.28%$398,00032.2K
46BlackRock New York Municipal Income Quality TrustCOM0.26%$361,00028.2K
47BlackRock MuniHoldings New York Quality Fund IncCOM0.23%$318,00024.6K
48Dividend and Income FundCOM NEW0.21%$293,00025.8K
49EPDEnterprise Products Partners LCOM0.21%$291,00010.0K
50OHAIUSDOHA Investment CorpCOM0.21%$290,000241.6K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$443M115May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$454M107Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025REVEALED$867M128Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$396M82Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$301M81May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$456M92Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$283M69Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$241M76Aug 15, 202413F-HRchanges · EDGAR ↗
Q1 2024$242M69May 14, 202413F-HRchanges · EDGAR ↗
Q4 2023$290M116Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$209M88Nov 21, 2023RESTATEMENTchanges · EDGAR ↗
Q2 2023$234M92Aug 11, 202313F-HRchanges · EDGAR ↗
Q1 2023$209M97May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$217M128Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$134M87Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$193M119Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$168M85May 16, 202213F-HRchanges · EDGAR ↗
Q4 2020$99M54Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$74M46Nov 13, 202013F-HRchanges · EDGAR ↗
Q2 2020$80M46Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$45M46May 14, 202013F-HRchanges · EDGAR ↗
Q4 2019$115M65Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$93M47Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$96M55Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$140M60May 14, 201913F-HRchanges · EDGAR ↗
Q4 2018$148M85Feb 14, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.