SEC 13F Intelligence

Managers / Q3 2020 · view latest →

Almitas Capital LLC

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

Reported Value
$74M
Q3 2020
Positions
46
Filings on Record
28
2019–present window
Filed
Nov 13, 2020
original filing

Summary

Almitas Capital LLC reported $74M in U.S.-listed holdings across 46 positions for Q3 2020.

Its largest position, Mfa Financial, represents 18.4% of the portfolio.

Compared with Q2 2020, the fund opened 13 new positions and exited 13.

Portfolio Metrics

Turnover
+36.7%
vs prior filed quarter
Top-10 Concentration
+67.5%
share of reported value
Largest Position
+18.4%
Mfa Financial
New / Exited
13 / 13
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
Common Stock: 31.1%Other: 25.9%Closed-End Fund: 18.6%REIT: 14.7%US DOMESTIC: 9.6%
  • Common Stock · 31.1% · $23M
  • Other · 25.9% · $19M
  • Closed-End Fund · 18.6% · $14M
  • REIT · 14.7% · $11M
  • US DOMESTIC · 9.6% · $7M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
FSKFS KKR CAPITAL CORPNEW+125.1K125.1K+$2M$2M
XTTPXTORTOISE PIPELINE & ENERGYNEW+67.9K67.9K+$810,000$810,000
TORTOISE POWER & ENRGY INFRANEW+94.1K94.1K+$802,000$802,000
PDXPIMCO ENRGY & TACT CRDTNEW+124.0K124.0K+$768,000$768,000
BLACKROCK CAPITAL INVESTMENTNEW+285.0K285.0K+$695,000$695,000
FRONT YARD RESIDENTIAL CORPNEW+69.8K69.8K+$610,000$610,000
RDNRADIAN GROUP INCNEW+33.9K33.9K+$495,000$495,000
TYGTORTOISE ENERGY INFRASTRUCTNEW+30.7K30.7K+$455,000$455,000

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

Holdings — Q3 2020

45 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MFA FINANCIAL INCNOTE 6.250% 6/1 · COM18.43%$14M9.94M
2GREAT AJAX CORPCOM9.38%$7M833.8K
3CCIFVERTICAL CAPITAL INCOMEhistory →SHS BEN INT8.08%$6M599.6K
4MVCMVC CAPITAL INChistory →COM6.46%$5M609.6K
5SAFEGUARD SCIENTIFICS INCCOM NEW4.78%$4M642.8K
6HFROHIGHLAND INCOME FUNDhistory →HIGHLAND INCOME4.49%$3M384.9K
7ADECOAGRO SACOM4.31%$3M679.7K
8MMACMMA CAPITAL HOLDINGS INChistory →COM4.11%$3M134.5K
9GARRISON CAPITAL INCCOM3.88%$3M748.0K
10NEW YORK MORTGAGE TRUST INCCOM PAR $.023.56%$3M1.03M
11BRK/ABERKSHIRE HATHAWAY INC-CL Ahistory →CL A3.47%$3M8
12MTGMGIC INVESTMENT CORPhistory →COM3.29%$2M273.6K
13FSKFS KKR CAPITAL CORPhistory →COM2.69%$2M125.1K
14KAYNE ANDERSON NEXTGEN ENERGCOM2.08%$2M379.6K
15ANHANWORTH MORTGAGE ASSET CORPhistory →COM1.99%$1M895.1K
16WATFORD HOLDINGS LTDSHS1.70%$1M54.7K
17OAKTREE SPECIALTY LENDING COCOM1.70%$1M258.4K
18HUNT COMPANIES FINANCE TRUSTCOM1.14%$844,000309.3K
19XTTPXTORTOISE PIPELINE & ENERGYhistory →COM1.10%$810,00067.9K
20TORTOISE POWER & ENRGY INFRACOM1.09%$802,00094.1K
21PDXPIMCO ENRGY & TACT CRDThistory →COM SHS BEN INT1.04%$768,000124.0K
22NXGCUSHING NEXTGEN INFRA INCCOM0.97%$712,00026.6K
23TREMONT MORTGAGE TRUSTCOM0.95%$704,000241.3K
24BLACKROCK CAPITAL INVESTMENTCOM0.94%$695,000285.0K
25CMOCAPSTEAD MORTGAGE CORPCOM NO PAR0.88%$651,000115.9K
26FRONT YARD RESIDENTIAL CORPCOM0.83%$610,00069.8K
27XNDPXTORTOISE ENERGY INDEPENDENCECOM0.77%$567,00057.0K
28NICHOLAS FINANCIAL INCCOM NEW0.74%$544,00074.9K
29RDNRADIAN GROUP INCCOM0.67%$495,00033.9K
30TYGTORTOISE ENERGY INFRASTRUCTCOM0.62%$455,00030.7K
31SRVCUSHING MLP & INFRASTRUCTURECOM NEW0.48%$351,00022.6K
32VOYA PRIME RATE TRUSTSH BEN INT0.40%$296,00067.1K
33EVFEATON VANCE SENIOR INCOME TRSH BEN INT0.38%$283,00048.3K
34EHIWESTERN ASSET GLOBAL HIGH INCOM0.38%$277,00028.7K
35AGNCAGNC INVESTMENT CORPCOM0.36%$268,00019.3K
36EFCELLINGTON FINANCIAL INCCOM0.34%$249,00020.3K
37SALIENT MIDSTREAM & MLP FUNDSH BEN INT0.30%$224,00063.9K
38CHMICHERRY HILL MORTGAGE INVESTMCOM0.28%$205,00022.8K
39STERLING BANCORP INC/MICOM0.25%$181,00060.2K
40EATON VANCE FLOATING-RATE INCOM0.23%$169,00012.0K
41THIRD POINT REINSURANCE LTDCOM0.16%$119,00017.1K
42NMLNB MLP & ENERGY INCOMECOM0.11%$83,00035.0K
43EQSEQUUS TOTAL RETURN INCCOM0.09%$66,00054.2K
44TWO HARBORS INVESTMENT CORPCOM NEW0.07%$51,00010.0K
45FIRST TRUST SPECIALTY FINANCCOM BEN INTR0.06%$46,00020.0K

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 ↗.