Almitas Capital LLC 13F holdings, Q3 2025
Holdings as of September 30, 2025 · filings on SEC EDGAR · latest filing →
Almitas Capital LLC disclosed 66 US equity positions worth $436.9m in its Q3 2025 13F filing. The largest position was FBTC at 36.8% of the reported book, followed by BLACKROCK MUN TARGET TERM TR and AMLX. Against the Q2 2025 filing, it opened 11 new positions, added to 11 and reduced 7 among the top 50 holdings.
What did Almitas Capital LLC own in Q3 2025? Top 50 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q2 2025 |
|---|---|---|---|---|---|---|---|
| 1 | FBTC FIDELITY WISE ORIGIN BITCOIN | 36.8% | $160.9m | 1,611,637 | 0% | held | |
| 2 | BLACKROCK MUN TARGET TERM TR | 7.9% | $34.6m | 1,539,263 | -1% | reduced | |
| 3 | AMLX AMYLYX PHARMACEUTICALS INC | Healthcare | 6.6% | $28.8m | 2,122,597 | 0% | held |
| 4 | FETH FIDELITY ETHEREUM FD | 6.2% | $27.0m | 650,000 | 0% | held | |
| 5 | ASA GOLD AND PRECIOUS MTLS L | 3.5% | $15.4m | 335,342 | – | new | |
| 6 | DSGN DESIGN THERAPEUTICS INC | Healthcare | 2.6% | $11.5m | 1,530,435 | 0% | held |
| 7 | CNNE CANNAE HLDGS INC | Consumer Cyclical | 2.3% | $10.2m | 556,688 | 73% | added |
| 8 | LYEL LYELL IMMUNOPHARMA INC | 2.1% | $9.4m | 577,807 | -0% | held | |
| 9 | PIONEER FLOATING RATE FUND I | 1.6% | $7.0m | 699,986 | 107% | added | |
| 10 | ETHA ISHARES ETHEREUM TR | 1.6% | $6.9m | 219,405 | 0% | held | |
| 11 | BLACKROCK MULTI SECTOR INC T | 1.6% | $6.9m | 514,906 | – | new | |
| 12 | EATON VANCE NEW YORK MUN BD | 1.4% | $6.1m | 617,454 | -8% | reduced | |
| 13 | IGF ISHARES TR | 1.3% | $5.7m | 92,922 | – | new | |
| 14 | BRSP BRIGHTSPIRE CAPITAL INC | 1.3% | $5.6m | 1,029,464 | 0% | held | |
| 15 | CCAP CRESCENT CAP BDC INC | 1.2% | $5.4m | 376,461 | 8% | added | |
| 16 | MFS HIGH YIELD MUN TR | 1.2% | $5.2m | 1,507,168 | 131% | added | |
| 17 | JAPAN SMALLER CAPITALIZATION | 1.2% | $5.1m | 481,642 | -6% | reduced | |
| 18 | BNY MELLON STRATEGIC MUN BD | 1.2% | $5.0m | 851,087 | 0% | held | |
| 19 | ALXO ALX ONCOLOGY HLDGS INC | Healthcare | 1.1% | $4.6m | 2,536,891 | -0% | held |
| 20 | NUVEEN PENNSYLVANIA QLT MUN | 1.0% | $4.5m | 378,058 | -47% | reduced | |
| 21 | FG NEXUS INC. | 1.0% | $4.4m | 800,000 | – | new | |
| 22 | MFS HIGH INCOME MUN TR | 0.9% | $4.1m | 1,103,430 | 0% | held | |
| 23 | DTF TAX-FREE INCOME 2028 TER | 0.9% | $4.0m | 350,940 | 0% | held | |
| 24 | MEXICO FD INC | 0.9% | $4.0m | 202,961 | -38% | reduced | |
| 25 | ABRDN JAPAN EQUITY FUND INC | 0.9% | $3.9m | 490,174 | 18% | added | |
| 26 | MFS INVIT GRADE MUN TR | 0.9% | $3.8m | 487,688 | 9% | added | |
| 27 | ETH GRAYSCALE ETHEREUM MINI TR E | 0.8% | $3.5m | 89,557 | 0% | held | |
| 28 | ARMOUR RESIDENTIAL REIT INC | 0.7% | $3.2m | 217,149 | – | new | |
| 29 | CLOUGH GLOBAL OPPORTUNITIES | 0.6% | $2.8m | 491,858 | 15% | added | |
| 30 | CENTRAL & EASTERN EUROPE FD | 0.6% | $2.7m | 173,254 | -0% | held | |
| 31 | NLY ANNALY CAPITAL MANAGEMENT IN | Real Estate | 0.5% | $2.3m | 115,765 | – | new |
| 32 | ALLIANCEBERNSTEIN NATL MUN I | 0.5% | $2.3m | 214,282 | -0% | held | |
| 33 | MSGS MADISON SQUARE GRDN SPRT COR | Communication Services | 0.5% | $2.3m | 9,925 | 0% | held |
| 34 | OXFORD LANE CAP CORP | 0.5% | $2.0m | 119,999 | – | new | |
| 35 | EATON VANCE CALIF MUN BD FD | 0.5% | $2.0m | 208,466 | – | new | |
| 36 | LADR LADDER CAP CORP | Real Estate | 0.5% | $2.0m | 180,693 | 0% | held |
| 37 | ANTX AN2 THERAPEUTICS INC | 0.4% | $1.8m | 1,428,323 | 0% | held | |
| 38 | TWO HARBORS INVENTMENT CORPO | 0.4% | $1.6m | 1,613,000 | 0% | held | |
| 39 | PIMCO CALIF MUN INCOME FD | 0.3% | $1.3m | 152,998 | -29% | reduced | |
| 40 | GERN GERON CORP | Healthcare | 0.3% | $1.3m | 946,323 | – | new |
| 41 | BNY MELLON MUN BD INFRASTRUC | 0.3% | $1.3m | 119,431 | 19% | added | |
| 42 | BNY MELLON STRATEGIC MUNS IN | 0.3% | $1.2m | 197,096 | 1% | added | |
| 43 | MFIC MIDCAP FINANCIAL INVSTMNT CO | 0.3% | $1.1m | 92,717 | 0% | held | |
| 44 | VTGN VISTAGEN THERAPEUTICS INC | 0.2% | $928.0k | 261,399 | 0% | held | |
| 45 | CABA CABALETTA BIO INC | Healthcare | 0.2% | $906.7k | 387,491 | 5% | added |
| 46 | MYPS PLAYSTUDIOS INC | 0.2% | $896.7k | 931,588 | – | new | |
| 47 | CLOUGH GLOBAL EQUITY FD | 0.2% | $867.6k | 114,007 | 47% | added | |
| 48 | QNCX QUINCE THERAPEUTICS INC | 0.2% | $806.5k | 494,778 | – | new | |
| 49 | WESTERN ASST INFLTN LKD INM | 0.2% | $806.5k | 95,779 | -37% | reduced | |
| 50 | ANRO ALTO NEUROSCIENCE INC | Healthcare | 0.2% | $784.5k | 195,145 | 0% | held |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.