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Almitas Capital LLC — 13F Holdings & Portfolio

CIK 1596468 · latest 13F-HR filed 2026-08-17

Backtest portfolio

Almitas Capital LLC manages $417.4M in 13F-reported U.S. long-equity assets across 130 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are FBTC (16.69%), BTT (8.10%), ASA (7.84%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 35 new positions, exited 20, added to 46, and trimmed 24.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

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AUM

$417.4M

Long-equity book

Holdings

130

Distinct positions

Period

2026-06-30

Filed 2026-08-17

Q/Q Activity

+35 / −20 / ↑46 / ↓24

vs 2026-03-31

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Firm Profile & Key People
Name Title / Status Ownership Type

Quarter-over-quarter changes

Share-count changes vs the prior 13F.

Top Adds (vs prior quarter)

  • NUVEEN S&P 500 DYNAMIC OVERW$4.7M +328.2%
  • NYLI CBRE GBL INFR MEGTRNDS$3.8M +82.5%
  • CORNERSTONE TOTAL RETURN FD$3.5M +45.6%
  • PGIM SHORT DUR HIG YLD OPP F$3.1M +108.5%
  • FS SPECIALTY LENDING FD$2.6M +78.1%
Show all 46 →

Top Trims

  • FIDELITY WISE ORIGIN BITCOIN-$21.0M -23.2%
  • AMYLYX PHARMACEUTICALS INC-$12.0M -40.7%
  • LYELL IMMUNOPHARMA INC-$3.4M -29.5%
  • PLAYSTUDIOS INC-$1.9M -86.9%
  • BRIGHTSPIRE CAPITAL INC-$1.5M -26.3%
Show all 24 →

New Positions

  • TORTOISE ENERGY INFRSTRCTR C$6.9M
  • ABERDEEN MUN INCOME FD$4.9M
  • ISHARES TR$4.9M
  • SCHWAB STRATEGIC TR$4.7M
  • PULMONX CORP$1.4M
Show all 35 →

Exited Positions

  • NUVEEN PA INVT QUALITY MUN F$12.6M
  • BIO RAD LABS INC$8.4M
  • MFS HIGH YIELD MUN TR$5.4M
  • MONROE CAP CORP$5.2M
  • MFS HIGH INCOME MUN TR$4.7M
Show all 20 →
All Holdings

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 FIDELITY WISE ORIGIN BITCOIN FBTC 315948109 $69.7M 16.69% 1,364,522 SH
2 BLACKROCK MUN TARGET TERM TR BTT 09257P105 $33.8M 8.10% 1,485,213 SH
3 ASA GOLD AND PRECIOUS MTLS L ASA G3156P103 $32.7M 7.84% 629,121 SH
4 AMYLYX PHARMACEUTICALS INC AMLX 03237H101 $17.5M 4.20% 974,881 SH
5 DESIGN THERAPEUTICS INC DSGN 25056L103 $14.9M 3.56% 1,026,893 SH
6 PIMCO DYNAMIC INCOME STRATEG PDX 69346N107 $11.4M 2.74% 549,495 SH
7 CORNERSTONE TOTAL RETURN FD CRF 21924U300 $11.3M 2.70% 1,572,309 SH
8 CANNAE HLDGS INC CNNE 13765N107 $10.7M 2.56% 741,318 SH
9 NYLI CBRE GBL INFR MEGTRNDS MEGI 56064Q107 $8.5M 2.03% 557,462 SH
10 LYELL IMMUNOPHARMA INC LYEL 55083R203 $8.2M 1.96% 581,407 SH
11 BLACKROCK HEALTH SCIENCES TE BMEZ 09260E105 $7.8M 1.87% 507,095 SH
12 AN2 THERAPEUTICS INC ANTX 037326105 $7.1M 1.70% 1,469,129 SH
13 TORTOISE ENERGY INFRSTRCTR C TYG 89147L886 $6.9M 1.66% 161,872 SH
14 PIMCO CALIF MUN INCOME FD PCQ 72200N106 $6.4M 1.53% 710,604 SH
15 NUVEEN S&P 500 DYNAMIC OVERW SPXX 6706EW100 $6.1M 1.46% 326,907 SH
16 ALX ONCOLOGY HLDGS INC ALXO 00166B105 $6.1M 1.46% 2,938,431 SH
17 FS SPECIALTY LENDING FD FSSL 644323107 $6.0M 1.44% 537,295 SH
18 PGIM SHORT DUR HIG YLD OPP F SDHY 69355J104 $6.0M 1.43% 364,674 SH
19 CORNERSTONE STRATEGIC INVEST CLM 21924B302 $5.0M 1.20% 661,789 SH
20 ABERDEEN MUN INCOME FD MFM 552738106 $4.9M 1.18% 878,531 SH
21 ISHARES TR AOR 464289867 $4.9M 1.16% 69,946 SH
22 SCHWAB STRATEGIC TR SCHH 808524847 $4.7M 1.13% 198,600 SH
23 BNY MELLON STRATEGIC MUN BD DSM 09662E109 $4.7M 1.12% 757,999 SH
24 LIBERTY ALL STAR EQUITY FD USA 530158104 $4.6M 1.11% 798,342 SH
25 JAPAN SMALLER CAPITALIZATION JOF 47109U104 $4.6M 1.09% 386,375 SH
26 FIRST TR SR FLTG RATE INCOME FTSRF 33733U108 $4.5M 1.08% 466,072 SH
27 CLOUGH GLOBAL OPPORTUNITIES GLO 18914E106 $4.3M 1.04% 709,764 SH
28 BRIGHTSPIRE CAPITAL INC BRSP 10949T109 $4.2M 1.00% 769,033 SH
29 DTF TAX-FREE INCOME 2028 TER DTF 23334J107 $4.1M 0.98% 355,089 SH
30 CRESCENT CAP BDC INC CCAP 225655109 $3.9M 0.93% 356,905 SH
31 ELME COMMUNITIES ELME 939653101 $3.9M 0.93% 2,619,247 SH
32 MEXICO FD INC MXF 592835102 $3.7M 0.90% 170,814 SH
33 THE CENTRAL AND EASTERN EU I CEE 153436100 $3.6M 0.85% 173,254 SH
34 LADDER CAP CORP LADR 505743104 $3.4M 0.81% 340,477 SH
35 NUVEEN FLOATING RATE INCOME JFR 67072T108 $3.3M 0.80% 435,208 SH
36 PIMCO NEW YORK MUN FD II PNI 72200Y102 $3.3M 0.79% 467,432 SH
37 TPG RE FIN TR INC TRTX 87266M107 $3.0M 0.73% 362,684 SH
38 ENNIS INC EBF 293389102 $3.0M 0.71% 138,956 SH
39 SABA CAPITAL INCOME & OPPORT SABA 880198205 $2.9M 0.70% 347,826 SH
40 CLOUGH GLOBAL EQUITY FD GLQ 18914C100 $2.9M 0.68% 331,172 SH
41 FIRST TR HIGH YIELD OPPRT 20 FTHY 33741Q107 $2.7M 0.65% 198,801 SH
42 LIBERTY ALL-STAR GROWTH FD I ASG 529900102 $2.6M 0.61% 466,560 SH
43 FRANKLIN BSP RLTY TR INC FBRT 35243J101 $2.4M 0.58% 298,190 SH
44 SRH TOTAL RETURN FUND INC STEW 101507101 $2.4M 0.57% 133,773 SH
45 FULGENT GENETICS INC FLGT 359664109 $2.2M 0.52% 104,797 SH
46 RALLYBIO CORP RLYB 75120L209 $1.9M 0.46% 120,682 SH
47 TEJON RANCH CO TRC 879080109 $1.7M 0.40% 90,257 SH
48 BLACKSTONE STRATEGIC CRED 20 BGB 09257R101 $1.6M 0.39% 144,834 SH
49 MIDCAP FINANCIAL INVSTMNT CO MFIC 03761U502 $1.4M 0.34% 140,477 SH
50 PULMONX CORP LUNG 745848101 $1.4M 0.33% 1,064,202 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-08-17 $417.4M 130 0002073679-26-000097
2026-03-31 2026-05-15 $442.5M 115 0001596468-26-000012
2025-12-31 2026-02-17 $454.2M 107 0001596468-26-000002
2025-09-30 2025-11-17 $436.9M 66 0001596468-25-000019
Filer Information
Address
1335 4TH STREET
FLOOR 4
SANTA MONICA, CA 90401
Phone
(310) 573-4343
Filing Manager
Almitas Capital LLC
SANTA MONICA, CA
Signatory
Yulia Perruzzi
Chief Financial Officer