SEC 13F Intelligence

Managers / Q2 2019 · view latest →

Almitas Capital LLC

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

Reported Value
$96M
Q2 2019
Positions
55
Filings on Record
28
2019–present window
Filed
Aug 14, 2019
original filing

Summary

Almitas Capital LLC reported $96M in U.S.-listed holdings across 55 positions for Q2 2019.

Its largest position, FSICUSD, represents 10.6% of the portfolio.

Compared with Q1 2019, the fund opened 10 new positions and exited 15.

Portfolio Metrics

Turnover
+16.8%
vs prior filed quarter
Top-10 Concentration
+58.6%
share of reported value
Largest Position
+10.6%
Fs Kkr Capital
New / Exited
10 / 15
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: 30.7%Other: 28.0%Common Stock: 22.0%REIT: 13.4%ETP: 3.4%Other: 2.4%
  • Closed-End Fund · 30.7% · $30M
  • Other · 28.0% · $27M
  • Common Stock · 22.0% · $21M
  • REIT · 13.4% · $13M
  • ETP · 3.4% · $3M
  • Other · 2.4% · $2M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
Two Harbors Investment CorpNEW+333.3K333.3K+$4M$4M
EARNEllington Residential MortgageNEW+210.7K210.7K+$2M$2M
Greenlight Capital Re LtdNEW+55.0K55.0K+$467,000$467,000
BlackRock Floating Rate Income TrustNEW+28.8K28.8K+$358,000$358,000
IIFMorgan Stanley India Invs FdNEW+14.8K14.8K+$311,000$311,000
Delaware Investments Minnesota Municipal Income Fund II IncNEW+16.8K16.8K+$216,000$216,000
WMCUSDWestern Asset Mortgage CapitalNEW+21.1K21.1K+$211,000$211,000
TDFTempleton Dragon FundNEW+10.9K10.9K+$210,000$210,000

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

Holdings — Q2 2019

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1FSICUSDFS KKR Capital Corphistory →COM10.57%$10M1.71M
2Great Ajax CorpCOM8.12%$8M559.0K
3Safeguard Scientifics IncCOM8.05%$8M642.8K
4BlackRock California Municipal Income TSH BEN INT5.60%$5M407.1K
5MVCMVC Capital Inchistory →COM5.15%$5M538.7K
6Highland Floating Rate OpportSHS BEN INT5.00%$5M348.3K
7Adecoagro S ACOM4.95%$5M667.4K
8Two Harbors Investment CorpCOM4.38%$4M333.3K
9BlackRock MuniHoldings California QlCOM3.63%$3M255.9K
10BrandywineGbl Global Income OprtCOM3.16%$3M259.5K
11RCReady Capital Corphistory →COM2.74%$3M177.5K
12BRK/ABerkshire Hathaway Inchistory →COM2.64%$3M8
13Exantas Capital CorpCOM NEW2.59%$2M220.4K
14EARNEllington Residential Mortgagehistory →COM SHS BEN INT2.35%$2M210.7K
15Resource Cap CorpNOTE 4.500% 8/12.13%$2M2.00M
16MTGMGIC Investment Corphistory →COM1.88%$2M137.8K
17Global X MLP ETFCOM1.76%$2M191.9K
18ANHAnworth Mortgage Asset Corporationhistory →COM1.76%$2M446.4K
19DSUBlackRock Debt Strategies Fund Inchistory →COM1.72%$2M153.7K
20TLIWestern Asset Corporate Loan Fhistory →COM1.53%$1M154.3K
21iShares MBS ETFCOM1.49%$1M13.3K
22Nuveen North Carolina Quality MCOM1.38%$1M99.7K
23First Trust Senior Floating Rate Income FdCOM1.35%$1M108.3K
24Nuveen Michigan Quality Mun IncCOM1.22%$1M86.7K
25BlackRock Muni New York Inter DurCOM1.19%$1M79.8K
26Hunt Cos Finance Trust IncCOM1.18%$1M333.2K
27EFCUSDEllington Financial Inchistory →COM1.01%$970,00054.0K
28Nuveen Inter Duration Qual Mun TRMCOM0.98%$943,00070.8K
29Salient Midstream & MLP FundSH BEN INT0.89%$856,00099.7K
30General American Investors CoCOM0.81%$781,00022.0K
31XPHDXPioneer Floating Rate TrustCOM0.72%$694,00065.0K
32Eaton Vance California Municipal Income TSH BEN INT0.72%$689,00055.6K
33EHIWestern Asset Gl Hi IncomeCOM0.69%$667,00067.2K
34ClearBridge Energy Midstream Opportunity Fund IncCOM0.61%$592,00064.3K
35BlackRock New York Municipal BondCOM0.56%$540,00036.5K
36RESIEURFront Yard Residential CorpREIT0.54%$525,00042.9K
37Greenlight Capital Re LtdCLASS A0.48%$467,00055.0K
38FTFranklin Universal TrustCOM0.45%$431,00058.8K
39MXEMexico Equity & Income Fund InCOM0.43%$419,00037.7K
40BlackRock Floating Rate Income TrustCOM0.37%$358,00028.8K
41AEFAberdeen Emerging Markets Equity IncomeCOM0.34%$329,00045.0K
42TRVCCitigroup IncCOM0.33%$315,0004.5K
43IIFMorgan Stanley India Invs FdCOM0.32%$311,00014.8K
44EPDEnterprise Products Partners LCOM0.30%$289,00010.0K
45OHAIUSDOHA Investment CorpCOM0.28%$265,000241.6K
46Eaton Vance Floating-Rate Income Plus FundCOM0.26%$254,00017.0K
47Delaware Investments Minnesota Municipal Income Fund II IncCOM0.22%$216,00016.8K
48WMCUSDWestern Asset Mortgage CapitalCOM0.22%$211,00021.1K
49TDFTempleton Dragon FundCOM0.22%$210,00010.9K
50AMLPUSDAlps ETF TRALERIAN MLP0.20%$197,00020.0K

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 ↗.