Almitas Capital LLC 13F holdings, Q4 2025
Holdings as of December 31, 2025 · filings on SEC EDGAR · latest filing →
Almitas Capital LLC disclosed 107 US equity positions worth $454.2m in its Q4 2025 13F filing. The largest position was FBTC at 25.8% of the reported book, followed by BLACKROCK MUN TARGET TERM TR and AMLX. Against the Q3 2025 filing, it opened 12 new positions, added to 14 and reduced 9 among the top 50 holdings.
What did Almitas Capital LLC own in Q4 2025? Top 50 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q3 2025 |
|---|---|---|---|---|---|---|---|
| 1 | FBTC FIDELITY WISE ORIGIN BITCOIN | 25.8% | $117.1m | 1,536,637 | -5% | reduced | |
| 2 | BLACKROCK MUN TARGET TERM TR | 7.5% | $33.9m | 1,486,013 | -3% | reduced | |
| 3 | AMLX AMYLYX PHARMACEUTICALS INC | Healthcare | 5.6% | $25.6m | 2,122,597 | 0% | held |
| 4 | ASA GOLD AND PRECIOUS MTLS L | 5.0% | $22.8m | 382,139 | 14% | added | |
| 5 | FETH FIDELITY ETHEREUM FD | 4.2% | $19.2m | 650,000 | 0% | held | |
| 6 | LYEL LYELL IMMUNOPHARMA INC | 3.9% | $17.8m | 577,807 | 0% | held | |
| 7 | ELME ELME COMMUNITIES | Real Estate | 3.9% | $17.6m | 1,012,210 | – | new |
| 8 | DSGN DESIGN THERAPEUTICS INC | Healthcare | 3.2% | $14.4m | 1,530,435 | 0% | held |
| 9 | FS SPECIALTY LENDING FD | 2.5% | $11.3m | 801,778 | – | new | |
| 10 | CNNE CANNAE HLDGS INC | Consumer Cyclical | 1.4% | $6.5m | 411,893 | -26% | reduced |
| 11 | MONROE CAP CORP | 1.4% | $6.4m | 999,044 | 817% | added | |
| 12 | CCAP CRESCENT CAP BDC INC | 1.4% | $6.2m | 444,234 | 18% | added | |
| 13 | BRSP BRIGHTSPIRE CAPITAL INC | 1.3% | $5.8m | 1,029,464 | 0% | held | |
| 14 | BNY MELLON STRATEGIC MUN BD | 1.3% | $5.7m | 926,301 | 9% | added | |
| 15 | PIMCO CALIF MUN INCOME FD | 1.2% | $5.6m | 640,607 | 319% | added | |
| 16 | MFS HIGH YIELD MUN TR | 1.2% | $5.3m | 1,497,718 | -1% | reduced | |
| 17 | LIBERTY ALL STAR EQUITY FD | 1.1% | $5.1m | 804,614 | – | new | |
| 18 | ETHA ISHARES ETHEREUM TR | 1.1% | $4.9m | 219,405 | 0% | held | |
| 19 | HYG ISHARES TR | 1.1% | $4.8m | 60,000 | – | new | |
| 20 | JAPAN SMALLER CAPITALIZATION | 1.1% | $4.8m | 435,985 | -9% | reduced | |
| 21 | CLOUGH GLOBAL OPPORTUNITIES | 1.0% | $4.5m | 790,286 | 61% | added | |
| 22 | MFS HIGH INCOME MUN TR | 1.0% | $4.4m | 1,193,886 | 8% | added | |
| 23 | NUVEEN PENNSYLVANIA QLT MUN | 1.0% | $4.4m | 368,795 | -2% | reduced | |
| 24 | DTF TAX-FREE INCOME 2028 TER | 0.9% | $4.0m | 350,940 | 0% | held | |
| 25 | ARMOUR RESIDENTIAL REIT INC | 0.8% | $3.8m | 217,149 | 0% | held | |
| 26 | MEXICO FD INC | 0.8% | $3.7m | 185,924 | -8% | reduced | |
| 27 | MFS INVT GRADE MUN TR | 0.8% | $3.6m | 454,909 | -7% | reduced | |
| 28 | BLUEROCK PVT REAL ESTATE FD | 0.7% | $3.2m | 212,185 | – | new | |
| 29 | QNCX QUINCE THERAPEUTICS INC | 0.7% | $3.1m | 930,134 | 88% | added | |
| 30 | CENTRAL & EASTERN EUROPE FD | 0.7% | $3.1m | 173,254 | 0% | held | |
| 31 | ALXO ALX ONCOLOGY HLDGS INC | Healthcare | 0.6% | $2.9m | 2,536,891 | 0% | held |
| 32 | PIMCO DYNAMIC INCOME STRATEG | 0.6% | $2.8m | 151,260 | – | new | |
| 33 | MYPS PLAYSTUDIOS INC | 0.6% | $2.6m | 4,047,346 | 334% | added | |
| 34 | NLY ANNALY CAPITAL MANAGEMENT IN | Real Estate | 0.6% | $2.6m | 115,765 | 0% | held |
| 35 | MSGS MADISON SQUARE GRDN SPRT COR | Communication Services | 0.6% | $2.6m | 9,925 | 0% | held |
| 36 | ETH GRAYSCALE ETHEREUM MINI TR E | 0.6% | $2.5m | 89,557 | 0% | held | |
| 37 | EBF ENNIS INC | Industrials | 0.6% | $2.5m | 138,956 | – | new |
| 38 | CLOUGH GLOBAL EQUITY FD | 0.5% | $2.5m | 322,982 | 183% | added | |
| 39 | ALLIANCEBERNSTEIN NATL MUN I | 0.5% | $2.3m | 214,282 | 0% | held | |
| 40 | BLACKROCK HEALTH SCIENCES TE | 0.5% | $2.3m | 152,914 | – | new | |
| 41 | LADR LADDER CAP CORP | Real Estate | 0.5% | $2.1m | 189,357 | 5% | added |
| 42 | NUVEEN CORE PLUS IMPACT FUND | 0.5% | $2.1m | 204,356 | – | new | |
| 43 | BNY MELLON MUN BD INFRASTRUC | 0.4% | $2.0m | 182,924 | 53% | added | |
| 44 | NUVEEN DOW 30 DYNMC OVERWRT | 0.4% | $1.7m | 114,201 | – | new | |
| 45 | ANTX AN2 THERAPEUTICS INC | 0.4% | $1.7m | 1,479,129 | 4% | added | |
| 46 | TWO HARBORS INVENTMENT CORPO | 0.4% | $1.6m | 1,613,000 | 0% | held | |
| 47 | FSK FS KKR CAP CORP | 0.3% | $1.6m | 106,600 | – | new | |
| 48 | MFIC MIDCAP FINANCIAL INVSTMNT CO | 0.3% | $1.5m | 135,477 | 46% | added | |
| 49 | TRC TEJON RANCH CO | 0.3% | $1.5m | 93,137 | – | new | |
| 50 | ANRO ALTO NEUROSCIENCE INC | Healthcare | 0.3% | $1.4m | 78,520 | -60% | reduced |
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.