SEC 13F Intelligence

Managers / Q2 2024 · view latest →

Almitas Capital LLC

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

Reported Value
$241M
Q2 2024
Positions
76
Filings on Record
28
2019–present window
Filed
Aug 15, 2024
original filing

Summary

Almitas Capital LLC reported $241M in U.S.-listed holdings across 76 positions for Q2 2024.

Its largest position, BMEZ, represents 11.3% of the portfolio.

Compared with Q1 2024, the fund opened 23 new positions and exited 16.

Portfolio Metrics

Turnover
+32.8%
vs prior filed quarter
Top-10 Concentration
+52.3%
share of reported value
Largest Position
+11.3%
Blackrock Health Sciences Term
New / Exited
23 / 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
Closed-End Fund: 87.1%Other: 6.0%Common Stock: 5.8%US DOMESTIC: 0.7%REIT: 0.4%
  • Closed-End Fund · 87.1% · $210M
  • Other · 6.0% · $14M
  • Common Stock · 5.8% · $14M
  • US DOMESTIC · 0.7% · $2M
  • REIT · 0.4% · $1M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
AVIRAtea Pharmaceuticals IncNEW+1.29M1.29M+$4M$4M
BTXBlackRock Innovation and Growth Term TrustNEW+543.2K543.2K+$4M$4M
AMLXAmylyx Pharmaceuticals IncNEW+1.90M1.90M+$4M$4M
IGIWestern Asset Investment Grade Defined Opportunity Trust IncNEW+209.3K209.3K+$4M$4M
GDOWestern Asset Global Corporate Defined Opportunity Fund IncNEW+202.7K202.7K+$2M$2M
Virtus Convertible & Income 2024 Target Term FundNEW+271.8K271.8K+$2M$2M
ACELYRIN IncNEW+376.1K376.1K+$2M$2M
BTTBlackRock Municipal 2030 Target Term TrustNEW+77.4K77.4K+$2M$2M

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

Holdings — Q2 2024

76 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1BMEZBlackRock Health Sciences Term Trusthistory →COM SHS11.25%$27M1.76M
2NPCTNuveen Core Plus Impact Fundhistory →COM BEN INT6.68%$16M1.48M
3ECATBlackRock ESG Capital Allocation Term Trusthistory →SHS BEN INT6.12%$15M839.1K
4XNQPXNuveen Pennsylvania Quality Municipal Income Fundhistory →COM6.00%$14M1.18M
5XHIEXMiller/Howard High Dividend Fundhistory →COM SHS BEN IN5.15%$12M1.11M
6XJPIXNuveen Preferred & Income Term Fundhistory →COM4.06%$10M501.9K
7MMDMainStay MacKay DefinedTerm Municipal Opportunities Fundhistory →COM3.45%$8M500.4K
8SDHYPGIM Short Duration High Yield Opportunities Fundhistory →COM3.36%$8M526.5K
9NTGTortoise Midstream Energy Fund Inchistory →COM3.23%$8M180.7K
10XENWXEaton Vance New York Municipal Bond Fundhistory →COM2.99%$7M730.2K
11BNY Mellon Municipal Income IncCOM2.37%$6M791.1K
12XXHYBXXNew America High Income Fund Inc/Thehistory →COM NEW1.85%$4M606.9K
13AVIRAtea Pharmaceuticals Inchistory →COM1.78%$4M1.29M
14XTTPXTortoise Pipeline & Energy Fund Inchistory →COM1.75%$4M116.6K
15DSGNDesign Therapeutics Inchistory →COM1.75%$4M1.25M
16DMADestra Multi-Alternative Fundhistory →COMMON SHARES1.73%$4M514.7K
17BTXBlackRock Innovation and Growth Term Trusthistory →SHS BEN INT1.63%$4M543.2K
18DTFDTF Tax-Free Income 2028 Term Fund Inchistory →COM1.61%$4M353.2K
19XCXHXMFS Investment Grade Municipal Trusthistory →SH BEN INT1.57%$4M477.5K
20AMLXAmylyx Pharmaceuticals Inchistory →COM1.50%$4M1.90M
21IGIWestern Asset Investment Grade Defined Opportunity Trust Inchistory →COM1.49%$4M209.3K
22GAMGeneral American Investors Co Inchistory →COM1.39%$3M67.1K
23DSMBNY Mellon Strategic Municipal Bond Fund Inchistory →COM1.38%$3M559.4K
24STEWSRH Total Return Fund Inchistory →COM1.33%$3M219.9K
25IIFMorgan Stanley India Investment Fund Inchistory →COM1.28%$3M114.8K
26JOFJapan Smaller Capitalization Fund Inchistory →COM1.14%$3M360.8K
27DWS Strategic Municipal Income TrustCOM1.13%$3M276.6K
28XCXEXMFS High Income Municipal Trusthistory →SH BEN INT1.11%$3M722.6K
29GDOWestern Asset Global Corporate Defined Opportunity Fund Inchistory →COM1.03%$2M202.7K
30Virtus Convertible & Income 2024 Target Term FundCOM1.02%$2M271.8K
31XBFZXBlackRock California Municipal Income TrustSH BEN INT0.82%$2M165.1K
32GLOClough Global Opportunities FundSH BEN INT0.81%$2M363.1K
33CEVEaton Vance California Municipal Income TrustSH BEN INT0.80%$2M177.3K
34XEVMXEaton Vance California Municipal Bond FundCOM0.72%$2M183.1K
35MXFMexico Fund Inc/TheCOM0.72%$2M108.3K
36XMHIXPioneer Municipal High Income Fund TrustCOM SHS0.70%$2M184.9K
37VPVInvesco Pennsylvania Value Municipal Income TrustCOM0.69%$2M153.4K
38AFBAllianceBernstein National Municipal Income FundCOM0.69%$2M149.9K
39ACELYRIN IncCOM0.69%$2M376.1K
40Great Ajax CorpCOM0.68%$2M456.2K
41XMIOXPioneer Municipal High Income Opportunities Fund IncCOMMON STOCK0.67%$2M138.9K
42BTTBlackRock Municipal 2030 Target Term TrustCOM SHS BEN IN0.67%$2M77.4K
43Two Harbors Investment CorpNOTE 6.250% 1/10.65%$2M1.61M
44GLVClough Global Dividend and Income FundCOM0.53%$1M223.4K
45TWNTaiwan Fund Inc/The/MDCOM0.51%$1M27.6K
46PDXPIMCO Energy & Tactical Credit Opportunities FundCOM SHS BEN INT0.49%$1M53.2K
47Nektar TherapeuticsCOM0.47%$1M920.2K
48IDEVoya Infrastructure Industrials and Materials FundCOM0.47%$1M110.8K
49VTNInvesco Trust for Investment Grade New York MunicipalsCOM0.45%$1M96.7K
50ADAMNew York Mortgage Trust IncCOM0.45%$1M185.1K
51XWIAXWestern Asset Inflation-Linked Income FundCOM SH BEN INT0.40%$950,915118.7K
52XDCFXBNY Mellon Alcentra Global Credit Income 2024 Target Term Fund IncCOM0.40%$950,570107.4K
53TYGTortoise Energy Infrastructure CorpCOM0.37%$887,68625.5K
54TBLDThornburg Income Builder Opportunities TrustCOM0.37%$882,06954.7K
55XPMAXPioneer Municipal High Income Advantage Fund IncCOM0.31%$748,68691.2K
56BCATBlackRock Capital Allocation Term TrustCOM0.30%$727,60344.3K
57NBHNeuberger Berman Municipal Fund IncCOM0.28%$672,53063.0K
58XNXJXNuveen New Jersey Quality Municipal Income FundCOM0.28%$664,24854.4K
59EDDMorgan Stanley Emerging Markets Domestic Debt Fund IncCOM0.26%$633,799139.0K
60OMCCNicholas FinancialCOM NEW0.26%$632,84996.3K
61CEECentral and Eastern Europe Fund IncCOM0.24%$579,45654.4K
62KTFDWS Municipal Income TrustCOM0.24%$568,51360.0K
63XNDPXTortoise Energy Independence Fund IncCOM0.23%$546,21615.1K
64DMBBNY Mellon Municipal Bond Infrastructure Fund IncCOM SHS0.19%$463,90143.8K
65HTDJohn Hancock Tax-Advantaged Dividend Income FundCOM0.18%$433,92921.5K
66LEOBNY Mellon Strategic Municipals IncCOM0.15%$351,12957.4K
67XCMUXMFS High Yield Municipal TrustSH BEN INT0.13%$313,80491.5K
68CPZCalamos Long/Short Equity & Dynamic Income TrustCOM0.10%$231,05315.2K
69HFROHighland Opportunities and Income FundHIGHLAND INCOME0.09%$214,58134.3K
70Spruce Biosciences IncCOM0.09%$205,271396.5K
71FMNFederated Hermes Premier Municipal Income FundCOM0.08%$204,28817.9K
72IQIInvesco Quality Municipal Income TrustCOM0.07%$177,11217.9K
73Rallybio CorpCOM0.06%$135,174100.9K
74VGMInvesco Trust for Investment Grade MunicipalsCOM0.05%$128,72412.5K
75XBGYXBlackRock Enhanced International Dividend TrustCOM BENE INTER0.04%$89,93816.1K
76XPCKXPIMCO California Municipal Income Fund IICOM0.03%$63,71210.9K

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 ↗.