SEC 13F Intelligence

Managers / Q3 2024 · view latest →

Almitas Capital LLC

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

Reported Value
$283M
Q3 2024
Positions
69
Filings on Record
28
2019–present window
Filed
Nov 14, 2024
original filing

Summary

Almitas Capital LLC reported $283M in U.S.-listed holdings across 69 positions for Q3 2024.

The portfolio is heavily concentrated: FBTC alone accounts for 21.9% of reported value.

Compared with Q2 2024, the fund opened 13 new positions and exited 21.

Portfolio Metrics

Turnover
+26.0%
vs prior filed quarter
Top-10 Concentration
+59.4%
share of reported value
Largest Position
+21.9%
Fidelity Wise Origin Bitcoin Fund
New / Exited
13 / 21
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: 62.2%ETP: 22.2%Common Stock: 8.6%Other: 6.0%US DOMESTIC: 0.6%REIT: 0.4%
  • Closed-End Fund · 62.2% · $176M
  • ETP · 22.2% · $63M
  • Common Stock · 8.6% · $24M
  • Other · 6.0% · $17M
  • US DOMESTIC · 0.6% · $2M
  • REIT · 0.4% · $1M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
FBTCFidelity Wise Origin Bitcoin FundNEW+1.12M1.12M+$62M$62M
ZNTLZentalis Pharmaceuticals IncNEW+960.9K960.9K+$4M$4M
ZTRVirtus Total Return Fund IncNEW+307.8K307.8K+$2M$2M
Tortoise Power and Energy Infrastructure Fund IncNEW+59.2K59.2K+$1M$1M
MFICMidCap Financial Investment CorpNEW+72.0K72.0K+$963,451$963,451
First Trust Specialty Finance and Financial Opportunities FundNEW+179.5K179.5K+$730,508$730,508
WIWWestern Asset Inflation-Linked Opportunities & Income FundNEW+63.1K63.1K+$558,096$558,096
VOOVanguard S&P 500 ETFNEW+970970+$511,840$511,840

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

Holdings — Q3 2024

69 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1FBTCFidelity Wise Origin Bitcoin Fundhistory →SHS21.89%$62M1.12M
2BMEZBlackRock Health Sciences Term Trusthistory →COM SHS8.42%$24M1.50M
3XNQPXNuveen Pennsylvania Quality Municipal Income Fundhistory →COM5.20%$15M1.17M
4XHIEXMiller/Howard High Dividend Fundhistory →COM SHS BEN IN4.82%$14M1.12M
5BTTBlackRock Municipal 2030 Target Term Trusthistory →COM SHS BEN IN4.10%$12M536.9K
6NTGTortoise Midstream Energy Fund Inchistory →COM3.61%$10M215.0K
7MMDMainStay MacKay DefinedTerm Municipal Opportunities Fundhistory →COM3.50%$10M586.7K
8SDHYPGIM Short Duration High Yield Opportunities Fundhistory →COM2.90%$8M491.0K
9DSGNDesign Therapeutics Inchistory →COM2.52%$7M1.32M
10XENWXEaton Vance New York Municipal Bond Fundhistory →COM2.45%$7M696.3K
11AMLXAmylyx Pharmaceuticals Inchistory →COM2.28%$6M1.99M
12IGIWestern Asset Investment Grade Opportunity Trust Inchistory →COM2.16%$6M338.9K
13ECATBlackRock ESG Capital Allocation Term Trusthistory →SHS BEN INT2.08%$6M331.1K
14BNY Mellon Municipal Income IncCOM1.99%$6M769.0K
15XTTPXTortoise Pipeline & Energy Fund Inchistory →COM1.80%$5M120.5K
16GDOWestern Asset Global Corporate Opportunity Fund Inchistory →COM1.72%$5M378.7K
17AVIRAtea Pharmaceuticals Inchistory →COM1.64%$5M1.38M
18NPCTNuveen Core Plus Impact Fundhistory →COM BEN INT1.49%$4M355.3K
19XXHYBXXNew America High Income Fund Inc/Thehistory →COM NEW1.46%$4M496.0K
20JOFJapan Smaller Capitalization Fund Inchistory →COM1.45%$4M497.5K
21XCXHXMFS Investment Grade Municipal Trusthistory →SH BEN INT1.39%$4M477.5K
22DTFDTF Tax-Free Income 2028 Term Fund Inchistory →COM1.30%$4M327.4K
23ZNTLZentalis Pharmaceuticals Inchistory →COM1.25%$4M960.9K
24STEWSRH Total Return Fund Inchistory →COM1.23%$3M220.8K
25DWS Strategic Municipal Income TrustCOM1.12%$3M311.2K
26BNY Mellon Strategic Municipal Bond Fund IncCOM1.10%$3M499.3K
27XCXEXMFS High Income Municipal Trusthistory →SH BEN INT1.02%$3M720.9K
28DMADestra Multi-Alternative FundCOMMON SHARES0.94%$3M307.3K
29IIFMorgan Stanley India Investment Fund IncCOM0.92%$3M86.3K
30MXFMexico Fund Inc/TheCOM0.75%$2M141.3K
31BTXBlackRock Innovation and Growth Term TrustSHS BEN INT0.73%$2M274.4K
32CEECentral and Eastern Europe Fund IncCOM0.68%$2M178.2K
33ZTRVirtus Total Return Fund IncCOM0.67%$2M307.8K
34AFBAllianceBernstein National Municipal Income FundCOM0.63%$2M149.9K
35XNDPXTortoise Energy Independence Fund IncCOM0.57%$2M42.9K
36Two Harbors Investment CorpNOTE 6.250% 1/10.56%$2M1.61M
37XWIAXWestern Asset Inflation-Linked Income FundCOM SH BEN INT0.48%$1M159.1K
38XMIOXPioneer Municipal High Income Opportunities Fund IncCOMMON STOCK0.45%$1M102.6K
39Nektar TherapeuticsCOM0.42%$1M920.2K
40Great Ajax CorpCOM0.42%$1M354.1K
41ADAMNew York Mortgage Trust IncCOM0.41%$1M185.1K
42XDCFXBNY Mellon Alcentra Global Credit Income 2024 Target Term Fund IncCOM0.40%$1M123.8K
43XMHIXPioneer Municipal High Income Fund TrustCOM SHS0.39%$1M113.5K
44Tortoise Power and Energy Infrastructure Fund IncCOM0.38%$1M59.2K
45CEVEaton Vance California Municipal Income TrustSH BEN INT0.36%$1M94.9K
46Rallybio CorpCOM0.36%$1M875.4K
47MFICMidCap Financial Investment CorpCOM NEW0.34%$963,45172.0K
48GLOClough Global Opportunities FundSH BEN INT0.31%$888,028162.9K
49XPMAXPioneer Municipal High Income Advantage Fund IncCOM0.26%$748,89884.7K
50First Trust Specialty Finance and Financial Opportunities FundCOM BEN INTR0.26%$730,508179.5K
51XEVMXEaton Vance California Municipal Bond FundCOM0.22%$628,87165.2K
52WIWWestern Asset Inflation-Linked Opportunities & Income FundCOM0.20%$558,09663.1K
53XBFZXBlackRock California Municipal Income TrustSH BEN INT0.19%$536,98944.4K
54XCMUXMFS High Yield Municipal TrustSH BEN INT0.18%$517,718141.3K
55VOOVanguard S&P 500 ETFS&P 500 ETF SHS0.18%$511,840970
56DMBBNY Mellon Municipal Bond Infrastructure Fund IncCOM SHS0.17%$489,33343.8K
57HilleVax IncCOM0.17%$470,040267.1K
58GLVClough Global Dividend and Income FundCOM0.16%$459,87478.1K
59OMCCOld Market Capital CorpCOM0.14%$400,03163.0K
60LEOBNY Mellon Strategic Municipals IncCOM0.13%$373,50557.4K
61TWNTaiwan Fund Inc/The/MDCOM0.12%$333,2097.6K
62Quince Therapeutics IncCOM0.11%$297,193382.9K
63SPYSPDR S&P 500 ETF TrustTR UNIT0.10%$286,880500
64XBNYXBlackRock New York Municipal Income TrustSH BEN INT0.09%$245,88322.4K
65FMNFederated Hermes Premier Municipal Income FundCOM0.07%$188,41115.2K
66Spruce Biosciences IncCOM0.07%$188,301396.5K
67EDDMorgan Stanley Emerging Markets Domestic Debt Fund IncCOM0.06%$181,91436.1K
68ACELYRIN IncCOM0.04%$120,87924.5K
69Allakos IncCOM0.02%$59,63891.3K

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 ↗.