13F HOLDINGS REPORT
Almitas Capital LLC
Quarter ended Q3 2025 · Filed November 14, 2025 · Accession 0001596468-25-000017
Total Value
$429.8M
Positions
62
Other Managers
0
Confidential Omitted
No
Holdings (62)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | FIDELITY WISE ORIGIN BITCOIN | FBTC | 1,611,637 | $160.9M | 37.42% |
| 2 | BLACKROCK MUN TARGET TERM TR | BLK | 1,539,263 | $34.6M | 8.04% |
| 3 | AMYLYX PHARMACEUTICALS INC | AMLX | 2,122,597 | $28.8M | 6.71% |
| 4 | FIDELITY ETHEREUM FD | 31613E103 | 650,000 | $27.0M | 6.28% |
| 5 | ASA GOLD AND PRECIOUS MTLS L | G3156P103 | 335,342 | $15.4M | 3.57% |
| 6 | DESIGN THERAPEUTICS INC | DSGN | 1,530,435 | $11.5M | 2.68% |
| 7 | CANNAE HLDGS INC | CNNE | 556,688 | $10.2M | 2.37% |
| 8 | LYELL IMMUNOPHARMA INC | LYEL | 577,807 | $9.4M | 2.18% |
| 9 | PIONEER FLOATING RATE FUND I | PHD | 699,986 | $7.0M | 1.62% |
| 10 | ISHARES ETHEREUM TR | 46438R105 | 219,405 | $6.9M | 1.61% |
| 11 | EATON VANCE NEW YORK MUN BD | ETN | 617,454 | $6.1M | 1.42% |
| 12 | ISHARES TR | 464288372 | 92,922 | $5.7M | 1.32% |
| 13 | BRIGHTSPIRE CAPITAL INC | BRSP | 1,029,464 | $5.6M | 1.30% |
| 14 | CRESCENT CAP BDC INC | 225655109 | 376,461 | $5.4M | 1.25% |
| 15 | MFS HIGH YIELD MUN TR | 59318E102 | 1,507,168 | $5.2M | 1.22% |
| 16 | JAPAN SMALLER CAPITALIZATION | JOF | 481,642 | $5.1M | 1.18% |
| 17 | BNY MELLON STRATEGIC MUN BD | 09662E109 | 851,087 | $5.0M | 1.17% |
| 18 | ALX ONCOLOGY HLDGS INC | ALXO | 2,536,891 | $4.6M | 1.08% |
| 19 | NUVEEN PENNSYLVANIA QLT MUN | NU | 378,058 | $4.5M | 1.06% |
| 20 | FG NEXUS INC. | FGNXP | 774,431 | $4.3M | 0.99% |
| 21 | MFS HIGH INCOME MUN TR | 59318D104 | 1,103,430 | $4.1M | 0.95% |
| 22 | DTF TAX-FREE INCOME 2028 TER | DTF | 350,940 | $4.0M | 0.93% |
| 23 | MEXICO FD INC | 592835102 | 202,961 | $4.0M | 0.93% |
| 24 | ABRDN JAPAN EQUITY FUND INC | JEQ | 490,174 | $3.9M | 0.90% |
| 25 | MFS INVIT GRADE MUN TR | 59318B108 | 487,688 | $3.8M | 0.89% |
| 26 | GRAYSCALE ETHEREUM MINI TR E | 38964R203 | 89,557 | $3.5M | 0.82% |
| 27 | ARMOUR RESIDENTIAL REIT INC | ARR-PC | 217,149 | $3.2M | 0.75% |
| 28 | CLOUGH GLOBAL OPPORTUNITIES | GLO | 491,858 | $2.8M | 0.65% |
| 29 | CENTRAL & EASTERN EUROPE FD | 153436100 | 173,254 | $2.7M | 0.62% |
| 30 | ANNALY CAPITAL MANAGEMENT IN | NLY-PJ | 115,765 | $2.3M | 0.54% |
| 31 | ALLIANCEBERNSTEIN NATL MUN I | 01864U106 | 214,282 | $2.3M | 0.54% |
| 32 | MADISON SQUARE GRDN SPRT COR | 55825T103 | 9,925 | $2.3M | 0.52% |
| 33 | OXFORD LANE CAP CORP | OXLCZ | 119,999 | $2.0M | 0.47% |
| 34 | EATON VANCE CALIF MUN BD FD | ETN | 208,466 | $2.0M | 0.46% |
| 35 | LADDER CAP CORP | LADR | 180,693 | $2.0M | 0.46% |
| 36 | AN2 THERAPEUTICS INC | ANTX | 1,428,323 | $1.8M | 0.42% |
| 37 | TWO HARBORS INVENTMENT CORPO | 90187BAB7 | 1,613,000 | $1.6M | 0.37% |
| 38 | PIMCO CALIF MUN INCOME FD | 72200N106 | 152,998 | $1.3M | 0.31% |
| 39 | GERON CORP | GERN | 946,323 | $1.3M | 0.30% |
| 40 | BNY MELLON MUN BD INFRASTRUC | 09662W109 | 119,431 | $1.3M | 0.30% |
| 41 | BNY MELLON STRATEGIC MUNS IN | 05588W108 | 197,096 | $1.2M | 0.29% |
| 42 | MIDCAP FINANCIAL INVSTMNT CO | 03761U502 | 92,717 | $1.1M | 0.26% |
| 43 | VISTAGEN THERAPEUTICS INC | VTGN | 261,399 | $927,966 | 0.22% |
| 44 | CABALETTA BIO INC | CABA | 387,491 | $906,729 | 0.21% |
| 45 | PLAYSTUDIOS INC | MYPSW | 931,588 | $896,747 | 0.21% |
| 46 | CLOUGH GLOBAL EQUITY FD | 18914C100 | 114,007 | $867,593 | 0.20% |
| 47 | QUINCE THERAPEUTICS INC | QNCX | 494,778 | $806,488 | 0.19% |
| 48 | WESTERN ASST INFLTN LKD INM | 95766Q106 | 95,779 | $806,459 | 0.19% |
| 49 | ALTO NEUROSCIENCE INC | ANRO | 195,145 | $784,483 | 0.18% |
| 50 | RALLYBIO CORP | RLYB | 1,538,727 | $767,825 | 0.18% |
| 51 | BLACKROCK MULTI SECTOR INC T | BLK | 57,112 | $764,730 | 0.18% |
| 52 | MONROE CAP CORP | MRCC | 108,905 | $764,513 | 0.18% |
| 53 | MFA FINL INC | 55272X607 | 77,440 | $711,674 | 0.17% |
| 54 | ZENTALIS PHARMACEUTICALS INC | ZNTL | 457,322 | $690,556 | 0.16% |
| 55 | PGIM SHORT DUR HIG YLD OPP F | 69355J104 | 39,115 | $654,003 | 0.15% |
| 56 | WHEELER REAL ESTATE INVIT TR | 963025804 | 5,271 | $606,165 | 0.14% |
| 57 | FULGENT GENETICS INC | FLGT | 21,478 | $485,403 | 0.11% |
| 58 | MSC INCOME FUND INC | MSIF | 30,146 | $395,817 | 0.09% |
| 59 | EATON VANCE CALIF MUN INCOM | ETN | 18,152 | $182,972 | 0.04% |
| 60 | BOUNDLESS BIO INC | BOLD | 86,808 | $106,774 | 0.02% |
| 61 | COHEN & STEERS INFRASTRUCTUR | 19248A117 | 72,600 | $5,663 | 0.00% |
| 62 | CLEARBRIDGE ENERGY MIDSTRM O | 18469P118 | 58,223 | $1,106 | 0.00% |