SEC 13F Intelligence

Managers / Q3 2019 · view latest →

Almitas Capital LLC

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

Reported Value
$93M
Q3 2019
Positions
47
Filings on Record
28
2019–present window
Filed
Nov 14, 2019
original filing

Summary

Almitas Capital LLC reported $93M in U.S.-listed holdings across 47 positions for Q3 2019.

Its largest position, Armour Residential Reit, represents 13.8% of the portfolio.

Compared with Q2 2019, the fund opened 8 new positions and exited 16.

Portfolio Metrics

Turnover
+33.6%
vs prior filed quarter
Top-10 Concentration
+61.6%
share of reported value
Largest Position
+13.8%
Armour Residential Reit
New / Exited
8 / 16
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, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. 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
Other: 26.0%REIT: 24.8%Closed-End Fund: 22.7%Common Stock: 22.0%US DOMESTIC: 2.2%Other: 2.2%
  • Other · 26.0% · $24M
  • REIT · 24.8% · $23M
  • Closed-End Fund · 22.7% · $21M
  • Common Stock · 22.0% · $21M
  • US DOMESTIC · 2.2% · $2M
  • Other · 2.2% · $2M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ARMOUR Residential REIT IncNEW+768.7K768.7K+$13M$13M
DXDynex Capital IncNEW+313.9K313.9K+$5M$5M
CCIFVertical Capital Income FundNEW+259.1K259.1K+$3M$3M
XFRAXBlackRock Floating Rate Income StrategiesNEW+133.9K133.9K+$2M$2M
Blue Capital Reinsurance Holdings LtdNEW+224.6K224.6K+$2M$2M
Alcentra Capital CorpNEW+62.5K62.5K+$556,000$556,000
CHMICherry Hill Mortgage InvestmenNEW+37.0K37.0K+$485,000$485,000
HGLBHighland Global Allocation FunNEW+42.6K42.6K+$437,000$437,000

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

Holdings — Q3 2019

47 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1ARMOUR Residential REIT IncCOM NEW13.77%$13M768.7K
2Great Ajax CorpCOM8.49%$8M512.2K
3Safeguard Scientifics IncCOM NEW7.75%$7M639.3K
4FS KKR Capital CorpCOM NEW6.87%$6M1.10M
5MVCMVC Capital Inchistory →COM6.14%$6M644.9K
6DXDynex Capital Inchistory →COM4.96%$5M313.9K
7Adecoagro S ACOM4.17%$4M668.2K
8HFROHighland Floating Rate Opporthistory →COM3.38%$3M236.7K
9EARNEllington Residential Mortgagehistory →COM SHS BEN INT3.15%$3M279.2K
10CCIFVertical Capital Income Fundhistory →SHS BEN INT2.96%$3M259.1K
11Oaktree Specialty Lending CorpCOM2.88%$3M520.1K
12Exantas Capital CorpCOM NEW2.68%$3M220.4K
13BRK/ABerkshire Hathaway Inchistory →CL A2.67%$2M8
14XBFZXBlackRock California Municipal Income Thistory →SH BEN INT2.33%$2M159.3K
15BWGBrandywineGbl Global Income Oprthistory →COM2.24%$2M173.1K
16Resource Cap CorpNOTE 4.500% 8/12.23%$2M2.00M
17MTGMGIC Investment Corphistory →COM2.04%$2M151.6K
18XFRAXBlackRock Floating Rate Income Strategieshistory →COM1.81%$2M133.9K
19Blue Capital Reinsurance Holdings LtdCOM1.77%$2M224.6K
20Global X MLP ETFGLBL X MLP ETF1.72%$2M191.9K
21Front Yard Residential CorpCOM1.63%$2M132.1K
22Nuveen North Carolina Quality MCOM1.41%$1M97.7K
23Hunt Cos Finance Trust IncCOM1.18%$1M327.0K
24FCTFirst Trust Senior Floating Rate Income Fdhistory →COM NEW1.05%$983,00081.9K
25BlackRock Muni New York Inter DurCOM0.99%$926,00062.9K
26XVMMXDelaware Investments Minnesota Municipal Income Fund II IncCOM0.98%$916,00069.9K
27Salient Midstream & MLP FundSH BEN INT0.84%$783,00099.7K
28Eaton Vance Floating-Rate Income Plus FundCOM0.75%$700,00046.0K
29EHIWestern Asset Gl Hi IncomeSH BEN INT0.71%$667,00067.2K
30BGTBlackRock Floating Rate Income TrustCL A0.63%$586,00047.7K
31ClearBridge Energy Midstream Opportunity Fund IncCOM0.60%$559,00064.3K
32Alcentra Capital CorpCOM0.59%$556,00062.5K
33BlackRock New York Municipal BondSH BEN INT0.57%$537,00036.5K
34CHMICherry Hill Mortgage InvestmenCOM0.52%$485,00037.0K
35HGLBHighland Global Allocation FunCOM0.47%$437,00042.6K
36MXEMexico Equity & Income Fund InCOM0.43%$401,00038.1K
37OHA Investment CorpCOM0.37%$342,000263.4K
38DSUBlackRock Debt Strategies Fund IncCOM0.36%$333,00031.0K
39CCitigroup IncCOM NEW0.33%$311,0004.5K
40EPDEnterprise Products Partners LCOM0.31%$286,00010.0K
41IIFMorgan Stanley India Invs FdCOM0.30%$281,00014.8K
42XJEQXAberdeen Japan Equity Fund IncCOM0.22%$202,00027.7K
43TDFTempleton Dragon FundCOM0.21%$196,00010.9K
44Alps ETF TRC&S GLOBL ETF0.19%$182,00020.0K
45Western Asset Corporate Loan FCOM0.18%$172,00018.1K
46EQSEquus Total Return IncCOM0.09%$87,00054.2K
47ANHAnworth Mortgage Asset CorporationCOM0.07%$70,00021.3K

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 ↗.