Almitas Capital LLC

CIK

1596468

Location

SANTA MONICA, CA

Portfolio Value

Micro $393,999

Diversification

Diversified

Filing Date

Global Rank

#2,626 / 8,420 ▲ 266

Top Industry

Asset Management 56.8%

3Y Alpha vs SPY

-12.0%

Period ended 6 months ago

Filed Feb 17, 2026 · 4mo

20 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+29.0%

SPY

+76.3%

Annualised alpha

-12.0%

Max drawdown

−24.4%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

102 positions · as of Dec 31, 2025 · Δ vs Sep 30, 2025

Top Position

26.3%

−13.5 pts

Top 5

49.0%

−16.8 pts

Top 10

64.2%

−12.8 pts

HHI

903

Diversified−903

Portfolio Trend

20 quarters · across all stocks

Sector Breakdown

As of Dec 31, 2025

Sector	% Portfolio	Value	Positions
Financial Services	37.6%	$167,663,550	68
Unclassified	34.8%	$155,384,478	6
Healthcare	15.7%	$70,188,613	11
Real Estate	8.0%	$35,781,562	9
Consumer Cyclical	1.7%	$7,487,590	3
Communication Services	1.2%	$5,205,970	2
Industrials	0.9%	$3,971,367	2
Technology	0.1%	$393,999	1

Last Quarter's Activity

Export CSV

Dec 31, 2025 vs Sep 30, 2025

Added To

Positions the filer increased

17 positions

Ticker	Company	Δ Shares	Shares	Value
MYPS	PLAYSTUDIOS, Inc.	+3,115,758	4,047,346	$2,638,869
MRCC	MONROE CAPITAL Corp	+890,139	999,044	$6,363,910
PCQ	Pimco California Municipal Income Fund	+487,609	640,607	$5,592,499
QNCX	Quince Therapeutics, Inc.	+435,356	930,134	$3,115,948
GLO	Clough Global Opportunities Fund	+298,428	790,286	$4,473,018
GLQ	Clough Global Equity Fund	+208,975	322,982	$2,474,042
ZNTL	Zentalis Pharmaceuticals, Inc.	+152,751	610,073	$823,598
CXE	Mfs High Income Municipal Trust	+90,456	1,193,886	$4,417,378
DSM	Bny Mellon Strategic Municipal Bond Fund, Inc.	+75,214	926,301	$5,715,277
CCAP	Crescent Capital BDC, Inc.	+67,773	444,234	$6,241,487
DMB	BNY Mellon Municipal Bond Infrastructure Fund, Inc.	+63,493	182,924	$2,010,334
ANTX	AN2 Therapeutics, Inc.	+50,806	1,479,129	$1,686,207
MFA	Mfa Financial, Inc.	+50,646	128,086	$1,192,480
ASA	ASA Gold & Precious Metals Ltd	+46,797	382,139	$22,802,234
MFIC	MidCap Financial Investment Corp	+42,760	135,477	$1,549,856
UTF	Cohen & Steers Infrastructure Fund Inc	+13,062	38,562	$929,729
LADR	Ladder Capital Corp	+8,664	189,357	$2,081,033
No positions match the current search.

Trimmed

Positions the filer reduced

14 positions

Ticker	Company	Δ Shares	Shares	Value
BIT	BlackRock Multi-Sector Income Trust	−495,363	19,543	$255,231
CNNE	Cannae Holdings, Inc.	−144,795	411,893	$6,479,076
ANRO	Alto Neuroscience, Inc.	−116,625	78,520	$1,397,656
FBTC	Fidelity Wise Origin Bitcoin Fund	−75,000	1,536,637	$117,137,838
BTT	BlackRock Municipal 2030 Target Term Trust	−53,250	1,486,013	$33,910,816
GERN	Geron Corp	−50,000	896,323	$1,183,146
JOF	Japan Smaller Capitalization Fund Inc	−45,657	435,985	$4,830,713
CXH	Mfs Investment Grade Municipal Trust	−32,779	454,909	$3,616,526
WIA	Western Asset Inflation-Linked Income Fund	−22,916	72,863	$602,577
MXF	Mexico Fund Inc	−17,037	185,924	$3,744,509
SDHY	PGIM Short Duration High Yield Opportunities Fund	−13,838	25,277	$415,806
CMU	Mfs High Yield Municipal Trust	−9,450	1,497,718	$5,256,990
NQP	NUVEEN PENNSYLVANIA QUALITY MUNICIPAL INCOME FUND	−9,263	368,795	$4,384,972
FLGT	Fulgent Genetics, Inc.	−3,000	18,478	$485,417
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
ELME	Elme Communities	1,012,210	$17,612,454
FSSL	FS Specialty Lending Fund	801,778	$11,337,140
USA	Liberty All Star Equity Fund	804,614	$5,052,975
BPRE	Bluerock Private Real Estate Fund	212,185	$3,182,775
PDX	PIMCO Dynamic Income Strategy Fund	151,260	$2,840,662
EBF	Ennis, Inc.	138,956	$2,502,597
BMEZ	BlackRock Health Sciences Term Trust	152,914	$2,301,355
NPCT	Nuveen Core Plus Impact Fund	204,356	$2,080,344
DIAX	Nuveen Dow 30sm Dynamic Overwrite Fund	114,201	$1,742,707
FSK	FS KKR Capital Corp	106,600	$1,578,746
TRC	Tejon Ranch Co	93,137	$1,468,770
STWD	Starwood Property Trust, Inc.	71,000	$1,278,710
SBET	Sharplink, Inc.	124,283	$1,111,090
HPP	Hudson Pacific Properties, Inc.	97,816	$1,059,347
NCDL	Nuveen Churchill Direct Lending Corp.	70,160	$935,934
JFR	Nuveen Floating Rate Income Fund	117,948	$923,532
EIC	Eagle Point Income Co Inc.	80,547	$919,041
FCT	First Trust Senior Floating Rate Income Fund II	88,034	$886,502
MEGI	NYLI CBRE Global Infrastructure Megatrends Term Fund	61,653	$848,345
BCAT	BlackRock Capital Allocation Term Trust	55,000	$778,800
FTHY	First Trust High Yield Opportunities 2027 Term Fund	55,326	$778,436
CCIF	Carlyle Credit Income Fund	157,285	$737,666
MFM	Mfs Municipal Income Trust	134,361	$729,580
WD	Walker & Dunlop, Inc.	11,600	$697,740
CRF	Cornerstone Total Return Fund Inc	86,417	$692,200
No positions match the current search.

Sold Out

Positions the filer fully exited

6 positions

Ticker	Company	Shares	Value
OXLC	Oxford Lane Capital Corp.	119,999	$2,031,583
VTGN	Vistagen Therapeutics, Inc.	261,399	$927,966
MSIF	Msc Income Fund, Inc.	30,146	$395,816
CEV	Eaton Vance California Municipal Income Trust	18,152	$182,972
BKT	Blackrock Income Trust, Inc.	13,000	$146,120
BOLD	Boundless Bio, Inc.	86,808	$106,773
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

1 positions · $393,999 total · Technology only · as of Dec 31, 2025

All sectors Communication Services Consumer Cyclical Financial Services Healthcare Industrials Real Estate Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio	History
FRMM	FORUM MARKETS Inc Technology	NEW	80,408	NEW	$393,999	NEW	100.00%