SEC 13F Intelligence

Managers / Q4 2019 · view latest →

Almitas Capital LLC

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

Reported Value
$115M
Q4 2019
Positions
65
Filings on Record
28
2019–present window
Filed
Feb 14, 2020
original filing

Summary

Almitas Capital LLC reported $115M in U.S.-listed holdings across 65 positions for Q4 2019.

Its largest position, Annaly Cap Mgmt, represents 7.6% of the portfolio.

Compared with Q3 2019, the fund opened 25 new positions and exited 7.

Portfolio Metrics

Turnover
+23.3%
vs prior filed quarter
Top-10 Concentration
+52.9%
share of reported value
Largest Position
+7.6%
Annaly Cap Mgmt
New / Exited
25 / 7
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
Closed-End Fund: 31.9%Other: 25.1%Common Stock: 22.2%REIT: 17.2%US DOMESTIC: 2.3%Other: 1.4%
  • Closed-End Fund · 31.9% · $37M
  • Other · 25.1% · $29M
  • Common Stock · 22.2% · $25M
  • REIT · 17.2% · $20M
  • US DOMESTIC · 2.3% · $3M
  • Other · 1.4% · $2M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ANNALY CAP MGMT INCNEW+922.8K922.8K+$9M$9M
AG MTG INVT TR INCNEW+249.8K249.8K+$4M$4M
PDXPIMCO ENRGY TACTICAL CR OPPNEW+146.8K146.8K+$2M$2M
GARRISON CAP INCNEW+407.7K407.7K+$2M$2M
EFTEATON VANCE FLTING RATE INCNEW+118.5K118.5K+$2M$2M
XEFRXEATON VANCE SR FLTNG RTE TRNEW+98.9K98.9K+$1M$1M
ASA GOLD AND PRECIOUS MTLS LNEW+89.9K89.9K+$1M$1M
VVRINVESCO SR INCOME TRNEW+234.4K234.4K+$1M$1M

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

Holdings — Q4 2019

65 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1ANNALY CAP MGMT INCCOM7.57%$9M922.8K
2GREAT AJAX CORPCOM6.64%$8M514.9K
3SAFEGUARD SCIENTIFICS INCCOM NEW6.22%$7M650.2K
4FS KKR CAPITAL CORPCOM5.55%$6M1.04M
5CCIFVERTICAL CAP INCOME FUNDhistory →SHS BEN INT5.45%$6M601.1K
6MVCMVC CAPITAL INChistory →COM5.06%$6M644.9K
7ADECOAGRO S ACOM5.04%$6M691.7K
8HFROHIGHLAND INCOME FUNDhistory →HIGHLAND INCOME4.04%$5M372.6K
9HGLBHIGHLAND GLOBAL ALLOCATION Fhistory →COM3.91%$4M481.0K
10AG MTG INVT TR INCCOM3.36%$4M249.8K
11OAKTREE SPECIALTY LENDING COCOM2.41%$3M505.7K
12BRK/ABERKSHIRE HATHAWAY INC DELhistory →CL A2.37%$3M8
13BLUE CAP REINS HLDGS LTDCOM2.34%$3M392.0K
14EXANTAS CAP CORPCOM NEW2.27%$3M220.4K
15PDXPIMCO ENRGY TACTICAL CR OPPhistory →COM SHS BEN INT2.11%$2M146.8K
16EARNELLINGTON RESIDENTIAL MTG REhistory →COM SHS BEN INT2.10%$2M222.2K
17GARRISON CAP INCCOM2.07%$2M407.7K
18MTGMGIC INVT CORP WIShistory →COM1.90%$2M154.0K
19RESOURCE CAP CORPNOTE 4.500% 8/11.82%$2M2.00M
20FRONT YD RESIDENTIAL CORPCOM1.51%$2M140.1K
21EFTEATON VANCE FLTING RATE INChistory →COM1.42%$2M118.5K
22XBFZXBLACKROCK CALIF MUN INCOME Thistory →SH BEN INT1.31%$1M110.5K
23BWGBRANDYWINEGBL GLBAL INM OPRThistory →COM1.22%$1M110.5K
24XFRAXBLACKROCK FLOAT RATE OME STRhistory →COM1.19%$1M101.2K
25XEFRXEATON VANCE SR FLTNG RTE TRhistory →COM1.17%$1M98.9K
26GLOBAL X FDSGLBL X MLP ETF1.15%$1M167.9K
27ASA GOLD AND PRECIOUS MTLS LSHS1.07%$1M89.9K
28HUNT COS FIN TR INCCOM0.92%$1M327.0K
29VVRINVESCO SR INCOME TRCOM0.88%$1M234.4K
30ARMOUR RESIDENTIAL REIT INCCOM NEW0.84%$963,00053.9K
31GBDCGOLUB CAP BDC INCCOM0.84%$963,00052.2K
32THIRD PT REINS LTDCOM0.83%$954,00090.7K
33XJQCXNUVEEN CR STRATEGIES INCM FDCOM SHS0.81%$929,000121.1K
34XPHDXPIONEER FLOATING RATE TRCOM0.70%$802,00073.1K
35TEMPLETON GLOBAL INCOME FDCOM0.70%$798,000130.2K
36ARLINGTON ASSET INVT CORPCL A NEW0.69%$794,000142.6K
37FCTFIRST TR SR FLG RTE INCM FDCOM0.68%$779,00062.5K
38SALIENT MIDSTREAM & MLP FDSH BEN INT0.68%$776,00099.7K
39BLACKROCK MUNI N Y INTER DURCOM0.66%$752,00049.1K
40CLEARBRIDGE ENERGY MIDSTRM OCOM0.65%$751,00089.3K
41EATON VANCE FLTG RATE INCOMCOM SHS BEN INT0.64%$737,00046.0K
42IIFMORGAN STANLEY INDIA INVS FDCOM0.61%$702,00035.3K
43XGDVXGABELLI DIVD & INCOME TRCOM0.61%$702,00032.0K
44ALCENTRA CAP CORPCOM0.61%$702,00077.6K
45HIOWESTERN ASSET HIGH INCM OPPCOM0.60%$690,000136.1K
46MXEMEXICO EQUITY & INCOME FDCOM0.56%$637,00055.0K
47BLACKROCK NY MUNICIPAL BONDCOM0.48%$552,00036.5K
48VOYA NAT RES EQUITY INCOME FCOM0.45%$515,000125.1K
49WESTERN ASSET MTG CAP CORPNOTE 6.750%10/00.44%$508,000500.0K
50CHMICHERRY HILL MTG INVT CORPCOM0.35%$407,00027.9K
51CCITIGROUP INCCOM NEW0.31%$360,0004.5K
52IDEVOYA INFRASTRUCTURE INDLS &COM0.25%$283,00024.6K
53EPDENTERPRISE PRODS PARTNERS LCOM0.25%$282,00010.0K
54NXDTNEXPOINT STRATEGIC OPORTUNTCOM NEW0.25%$282,00015.9K
55WHFWHITEHORSE FIN INCCOM0.22%$249,00018.2K
56XJEQXABERDEEN JAPAN EQUITY FD INCCOM0.19%$216,00027.7K
57TDFTEMPLETON DRAGON FD INCCOM0.18%$212,00010.9K
58TORTOISE ENERGY INDEPENDENCCOM0.18%$210,00048.4K
59WESTERN ASSET CORPORATE LN FCOM0.16%$179,00018.1K
60DSUBLACKROCK DEBT STRAT FD INCCOM NEW0.12%$137,00012.2K
61ANHANWORTH MORTGAGE ASSET CPCOM0.12%$136,00038.5K
62PORTMAN RIDGE FIN CORPCOM0.11%$124,00058.4K
63EQSEQUUS TOTAL RETURN INCCOM0.09%$99,00054.2K
64VOYA PRIME RATE TRSH BEN INT0.06%$73,00014.6K
65MFS GOVT MKTS INCOME TRSH BEN INT0.04%$48,00010.4K

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 ↗.