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Livermore
Livermore
ZHEN

Almitas Capital LLC

SEC CIK
0001596468
Latest filing
Aug 14, 2026

Holdings in Q4 2024

Holdings as of Dec 31, 2024, filed Feb 14, 2025. Long positions only; changes compare share counts with Q3 2024.

Institution overview
Positions
91
+23 vs. Q3 2024
Portfolio value
$455.6M
+$172.6M (+61.0%) vs. Q3 2024
Filed
Feb 14, 2025
SEC
Holdings of Almitas Capital LLC in Q4 2024
SecurityClassSharesValue% of portfolioShare changeActionHistory
FBTCFidelity Wise Origin Bitcoin FundSHS1,731,994$141.3M31.0%+616,624+55.3%AddedHistory
FETHFidelity Ethereum FundSHS941,057$31.4M6.9%+941,057NewHistory
BTTBlackRock Municipal 2030 Target Term TrustCOM SHS BEN IN1,501,061$30.9M6.8%+964,150+179.6%AddedHistory
OBDEBlue Owl Capital Corp IIICOM SHS1,889,702$27.2M6.0%+1,889,702NewHistory
BMEZBlackRock Health Sciences Term TrustCOM SHS1,339,598$19.3M4.2%−164,795−11.0%ReducedHistory
ETHGrayscale Ethereum Staking Mini ETFSHS NEW515,011$16.2M3.6%+515,011NewHistory
TPZTortoise Power & Energy Infrastructure Fund IncPOWER ENRGY INFR576,065$11.6M2.5%+576,065NewHistory
TYGTortoise Energy Infrastructure CorpCOM248,666$10.4M2.3%+248,666NewHistory
NQPNuveen Pennsylvania Quality Municipal Income FundCOM822,642$9.20M2.0%−343,469−29.5%ReducedHistory
DSGNDesign Therapeutics, Inc.COM1,323,667$8.17M1.8%00.0%UnchangedHistory
AMLXAmylyx Pharmaceuticals, Inc.COM2,032,370$7.68M1.7%+43,807+2.2%AddedHistory
SDHYPGIM Short Duration High Yield Opportunities FundCOM462,098$7.45M1.6%−28,924−5.9%ReducedHistory
NLYAnnaly Capital Management IncREIT390,718$7.15M1.6%+390,718NewHistory
ENXEaton Vance New York Municipal Bond FundCOM698,195$6.65M1.5%+1,880+0.3%AddedHistory
DMFBNY Mellon Municipal Income, Inc.COM806,008$5.72M1.3%−462,239−36.4%ReducedHistory
ECATBlackRock ESG Capital Allocation Term TrustSHS BEN INT331,140$5.43M1.2%00.0%UnchangedHistory
Two Harbors Investment Corp.90187B804COM437,374$5.17M1.1%+437,374New–
ZNTLZentalis Pharmaceuticals, Inc.COM1,626,896$4.93M1.1%+665,968+69.3%AddedHistory
STEWSRH Total Return Fund, Inc.COM301,991$4.84M1.1%+81,229+36.8%AddedHistory
MXFMexico Fund IncCOM317,846$4.20M0.9%+176,498+124.9%AddedHistory
HYBNew America High Income Fund IncCOM NEW495,961$4.05M0.9%00.0%UnchangedHistory
JOFJapan Smaller Capitalization Fund IncCOM497,471$3.82M0.8%00.0%UnchangedHistory
CXHMFS Investment Grade Municipal TrustSH BEN INT477,454$3.81M0.8%00.0%UnchangedHistory
DSMBNY Mellon Strategic Municipal Bond Fund, Inc.COM625,461$3.63M0.8%+625,461NewHistory
DTFDTF Tax-Free Income 2028 Term Fund IncCOM322,432$3.62M0.8%−4,942−1.5%ReducedHistory
CXEMFS High Income Municipal TrustSH BEN INT921,837$3.39M0.7%+200,984+27.9%AddedHistory
NPCTNuveen Core Plus Impact FundCOM BEN INT269,668$2.83M0.6%−85,638−24.1%ReducedHistory
MIOPioneer Municipal High Income Opportunities Fund, Inc.COMMON STOCK231,057$2.74M0.6%+128,460+125.2%AddedHistory
ZTRVirtus Total Return Fund Inc.COM437,074$2.56M0.6%+129,284+42.0%AddedHistory
AVIRAtea Pharmaceuticals, Inc.COM752,003$2.52M0.6%−632,526−45.7%ReducedHistory
GLOClough Global Opportunities FundSH BEN INT455,226$2.33M0.5%+292,285+179.4%AddedHistory
IIFMorgan Stanley India Investment Fund, Inc.COM86,320$2.18M0.5%00.0%UnchangedHistory
DMADestra Multi-Alternative FundCOMMON SHARES253,418$2.14M0.5%−53,897−17.5%ReducedHistory
ITOSiTeos Therapeutics, Inc.COM275,120$2.11M0.5%+275,120NewHistory
MAVPioneer Municipal High Income Advantage Fund, Inc.COM245,006$2.07M0.5%+160,289+189.2%AddedHistory
ALXOAlx Oncology Holdings IncCOM1,222,945$2.04M0.4%+1,222,945NewHistory
AFBAlliancebernstein National Municipal Income FundCOM187,470$2.04M0.4%+37,574+25.1%AddedHistory
DXDynex Capital IncCOM159,392$2.02M0.4%+159,392NewHistory
BRSPBrightSpire Capital, Inc.COM CL A356,322$2.01M0.4%+356,322NewHistory
CEECentral & Eastern Europe Fund, Inc.COM180,190$1.97M0.4%+1,983+1.1%AddedHistory
MEGINYLI CBRE Global Infrastructure Megatrends Term FundCOM160,901$1.96M0.4%+160,901NewHistory
MFICMidCap Financial Investment CorpCOM NEW135,444$1.83M0.4%+63,491+88.2%AddedHistory
MHIPioneer Municipal High Income Fund, Inc.COM SHS195,878$1.81M0.4%+82,347+72.5%AddedHistory
ANTXAN2 Therapeutics, Inc.COM1,313,111$1.81M0.4%+1,313,111NewHistory
LADRLadder Capital CorpCL A145,892$1.63M0.4%+145,892NewHistory
Two HBRS Invt Corp90187BAB7NOTE 6.250% 1/1–$1.60M0.4%–––
BTCGrayscale Bitcoin Mini Trust ETFETF35,700$1.49M0.3%+35,700NewHistory
BTXBlackRock Technology & Private Equity Term TrustSHS BEN INT193,153$1.44M0.3%−81,289−29.6%ReducedHistory
WIAWestern Asset Inflation-Linked Income FundCOM SH BEN INT159,057$1.27M0.3%00.0%UnchangedHistory
RLYBRallybio CorpCOM1,298,119$1.25M0.3%+422,685+48.3%AddedHistory
CMUMFS High Yield Municipal TrustSH BEN INT344,105$1.21M0.3%+202,845+143.6%AddedHistory
MUCBlackRock Muniholdings California Quality Fund, Inc.CEF111,060$1.18M0.3%+111,060NewHistory
ANROAlto Neuroscience, Inc.COM SHS266,912$1.13M0.2%+266,912NewHistory
Vanguard Dividend Appreciation ETF921908844ETF5,214$1.02M0.2%+5,214New–
FGBFirst Trust Specialty Finance & Financial Opportunities FundCOM BEN INTR213,162$897.4K0.2%+33,676+18.8%AddedHistory
PSTLPostal Realty Trust, Inc.CL A66,668$870.0K0.2%+66,668NewHistory
NKTRNektar TherapeuticsCOM920,225$855.8K0.2%00.0%UnchangedHistory
IFNAberdeen India Fund, Inc.COM51,700$814.3K0.2%+51,700NewHistory
MFAMfa Financial, Inc.COM77,440$789.1K0.2%+77,440NewHistory
HYIWestern Asset High Yield Opportunity Fund Inc.COM64,498$762.4K0.2%+64,498NewHistory
VTGNVistagen Therapeutics, Inc.COM254,655$751.2K0.2%+254,655NewHistory
CETCentral Securities CorpCOM15,436$705.3K0.2%+15,436NewHistory
LYELLyell Immunopharma, Inc.COM1,050,520$672.3K0.1%+1,050,520NewHistory
DMBBNY Mellon Municipal Bond Infrastructure Fund, Inc.COM SHS63,654$658.8K0.1%+19,807+45.2%AddedHistory
LEOBNY Mellon Strategic Municipals, Inc.COM106,854$645.4K0.1%+49,480+86.2%AddedHistory
BOLDBoundless Bio, Inc.COM192,007$556.8K0.1%+192,007NewHistory
ALECAlector, Inc.COM284,845$538.4K0.1%+284,845NewHistory
AODabrdn Total Dynamic Dividend FundCOM SH BEN INT59,751$502.5K0.1%+59,751NewHistory
SLRNACELYRIN, Inc.COM148,704$466.9K0.1%+124,185+506.5%AddedHistory
EMFTempleton Emerging Markets FundCOM38,021$454.4K0.1%+38,021NewHistory
CEVEaton Vance California Municipal Income TrustSH BEN INT43,465$436.4K0.1%−51,401−54.2%ReducedHistory
ADAMAdamas Trust, Inc.COM70,512$427.3K0.1%−114,627−61.9%ReducedHistory
THWabrdn World Healthcare FundBEN INT SHS34,575$380.7K0.1%+34,575NewHistory
THQabrdn Healthcare Opportunities FundSHS18,991$358.4K0.1%+18,991NewHistory
GLQClough Global Equity FundCOM51,534$343.2K0.1%+51,534NewHistory
TWNTaiwan Fund IncCOM8,547$330.3K0.1%+962+12.7%AddedHistory
BKNBlackRock Investment Quality Municipal Trust, Inc.COM29,325$327.0K0.1%+29,325NewHistory
FLGTFulgent Genetics, Inc.COM16,000$295.5K0.1%+16,000NewHistory
BlackRock New York Municipal Income Trust09248L106SH BEN INT28,553$291.0K0.1%+6,200+27.7%Added–
HPPHudson Pacific Properties, Inc.COM88,641$268.6K0.1%+88,641NewHistory
AGDabrdn Global Dynamic Dividend FundCOM27,094$265.5K0.1%+27,094NewHistory
WIWWestern Asset Inflation-Linked Opportunities & Income FundCEF25,454$210.5K<0.1%−37,679−59.7%ReducedHistory
ACPabrdn Income Credit Strategies FundCOM31,000$185.1K<0.1%+31,000NewHistory
EDDMorgan Stanley Emerging Markets Domestic Debt Fund, Inc.COM36,094$163.9K<0.1%00.0%UnchangedHistory
RGTRoyce Global Trust, Inc.COM14,935$160.1K<0.1%+14,935NewHistory
PNFPIMCO New York Municipal Income FundCOM20,862$155.0K<0.1%+20,862NewHistory
AEFabrdn Emerging Markets ex-China Fund, Inc.COM26,327$136.6K<0.1%+26,327NewHistory
EEAEuropean Equity Fund, IncCOM16,087$131.0K<0.1%+16,087NewHistory
GLVClough Global Dividend & Income FundCOM19,617$106.4K<0.1%−58,460−74.9%ReducedHistory
TDFTempleton Dragon Fund IncCOM11,925$101.2K<0.1%+11,925NewHistory
PCKPIMCO California Municipal Income Fund IICOM10,367$59.3K<0.1%+10,367NewHistory

Options (1)

Puts and calls in the same filing. Amounts are the market value of the underlying shares, which is what 13F reports.

Option positions of Almitas Capital LLC in Q4 2024
SecurityClassPutsCalls
OBDCBlue Owl Capital CorpCOM$756.0K–

Sold out since Q3 2024 (21)

Positions held at the end of Q3 2024 that are gone from this filing.

Positions of Almitas Capital LLC sold out since Q3 2024
SecurityClassShares in Q3 2024Value in Q3 2024% of portfolio in Q3 2024History
HIEMiller/Howard High Income Equity FundCOM SHS BEN IN1,119,524$13.6M4.8%History
NTGTortoise Midstream Energy Fund, Inc.COM214,984$10.2M3.6%History
MMDNYLI MacKay DefinedTerm Muni Opportunities FundCOM586,738$9.89M3.5%History
IGIWestern Asset Investment Grade Opportunity Trust Inc.COM338,857$6.10M2.2%History
TTPTortoise Pipeline & Energy Fund, Inc.COM120,470$5.08M1.8%History
GDOWestern Asset Global Corporate Opportunity Fund Inc.COM378,659$4.87M1.7%History
KSMDWS Strategic Municipal Income TrustCOM311,210$3.17M1.1%History
NDPTortoise Energy Independence Fund, Inc.COM42,888$1.61M0.6%History
RPTRithm Property Trust Inc.COM354,065$1.18M0.4%History
DCFBNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc.COM123,756$1.14M0.4%History
TPZTortoise Power & Energy Infrastructure Fund IncCOM59,182$1.07M0.4%History
EVMEaton Vance California Municipal Bond FundCOM65,168$628.9K0.2%History
BFZBlackRock California Municipal Income TrustSH BEN INT44,416$537.0K0.2%History
Vanguard S&P 500 ETF922908363ETF970$511.8K0.2%–
HLVXHilleVax, Inc.COM267,068$470.0K0.2%History
OMCCOld Market Capital CorpCOM NEW62,997$400.0K0.1%History
QNCXQuince Therapeutics, Inc.COM382,882$297.2K0.1%History
SPYSPDR S&P 500 ETF TrustETF500$286.9K0.1%History
FMNFederated Hermes Premier Municipal Income FundCOM15,170$188.4K0.1%History
SPRBSpruce Biosciences, Inc.COM396,506$188.3K0.1%History
ALLKAllakos Inc.COM91,301$59.6K<0.1%History