DaveManuel.com · Institutional Ownership · 13F Holdings
Almitas Capital LLC
Reported holdings as of Q2 2026, from 27 quarterly filings.
Holdings
Download these holdings as CSV
| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| FIDELITY WISE ORIGIN BITCOIN | FBTC | $69.7M | 1,364,522 | -3.81pp | 8q | -11.2%-$8.8M | |
| BLACKROCK MUN TARGET TERM TR | BTT | $33.8M | 1,485,213 | +0.47pp | 9q | HELD | |
| ASA GOLD AND PRECIOUS MTLS L | ASA | $32.7M | 629,121 | +0.48pp | 4q | +19.7%+$5.4M | |
| AMYLYX PHARMACEUTICALS INC | AMLX | $17.5M | 974,881 | -2.47pp | 9q | -54.1%-$20.6M | |
| DESIGN THERAPEUTICS INC | DSGN | $14.9M | 1,026,893 | -0.12pp | 11q | -32.9%-$7.3M | |
| PIMCO DYNAMIC INCOME STRATEG | PDX | $11.4M | 549,495 | +0.04pp | 3q | +1.5%+$166.6K | |
| CORNERSTONE TOTAL RETURN FD | CRF | $11.3M | 1,572,309 | +0.95pp | 3q | +41.0%+$3.3M | |
| CANNAE HLDGS INC | CNNE | $10.7M | 741,318 | +0.65pp | 6q | HELD | |
| NYLIM CBRE GLOBAL | MEGI | $8.5M | 557,462 | +0.98pp | 3q | +76.3%+$3.7M | |
| LYELL IMMUNOPHARMA INC | LYEL | $8.2M | 581,407 | -0.66pp | 5q | +0.6%+$50.6K | |
| BLACKROCK HEALTH SCIENCES TE | BMEZ | $7.8M | 507,095 | +0.22pp | 3q | HELD | |
| AN2 THERAPEUTICS INC COM | ANTX | $7.1M | 1,469,129 | +0.56pp | 7q | -0.7%-$48.4K | |
| TORTOISE ENERGY INFRSTRCTR C | TYG | $6.9M | 161,872 | - | new | NEW | |
| PIMCO CALIF MUN INCOME FD | PCQ | $6.4M | 710,604 | +0.33pp | 6q | +15.2%+$839.5K | |
| NUVEEN S&P 500 DYNAMIC OVERW | SPXX | $6.1M | 326,907 | +1.14pp | 2q | +269.2%+$4.4M | |
| ALX ONCOLOGY HLDGS INC COM | ALXO | $6.1M | 2,938,431 | +0.02pp | 7q | -7.4%-$487.3K | |
| FS SPECIALTY LENDING FD | FSSL | $6.0M | 537,295 | +0.68pp | 3q | +99.9%+$3.0M | |
| PGIM SHORT DUR HIG YLD OPP F | SDHY | $6.0M | 364,674 | +0.78pp | 15q | +103.8%+$3.0M | |
| CORNERSTONE STRATEGIC INVEST | CLM | $5.0M | 661,789 | +0.47pp | 2q | +49.7%+$1.7M | |
| ABERDEEN MUN INCOME FD | MFM | $4.9M | 878,531 | - | new | NEW | |
| ISHARES TR | AOR | $4.9M | 69,946 | - | new | NEW | |
| SCHWAB STRATEGIC TR | SCHH | $4.7M | 198,600 | - | new | NEW | |
| BNY MELLON STRATEGIC MUN BD | DSM | $4.7M | 757,999 | -0.14pp | 7q | -18.2%-$1.0M | |
| LIBERTY ALL STAR EQUITY FD | USA | $4.6M | 798,342 | +0.62pp | 3q | +101.9%+$2.3M | |
| JAPAN SMALLER CAPITALIZATION | JOF | $4.6M | 386,375 | +0.10pp | 18q | -4.1%-$195.3K | |
| FIRST TR SR FLTG RATE INCOME | FCT | $4.5M | 466,072 | +0.24pp | 3q | +21.7%+$803.8K | |
| CLOUGH GLOBAL OPPORTUNITIES | GLO | $4.3M | 709,764 | +0.21pp | 11q | +7.4%+$299.7K | |
| BRIGHTSPIRE CAPITAL INC | BRSP | $4.2M | 769,033 | -0.28pp | 7q | -24.3%-$1.3M | |
| DTF TAX FREE INCOME INC | DTF | $4.1M | 355,089 | +0.06pp | 15q | HELD | |
| CRESCENT CAP BDC INC | CCAP | $3.9M | 356,905 | -0.05pp | 6q | HELD | |
| ELME COMMUNITIES SH BEN INT | ELME | $3.9M | 2,619,247 | -0.26pp | 3q | HELD | |
| MEXICO FD INC | MXF | $3.7M | 170,814 | +0.03pp | 15q | -6.9%-$277.6K | |
| THE CENTRAL AND EASTERN EU I | CEE | $3.6M | 173,254 | +0.14pp | 11q | HELD | |
| LADDER CAP CORP | LADR | $3.4M | 340,477 | +0.17pp | 7q | +17.2%+$497.5K | |
| NUVEEN FLOATING RATE INCOME | JFR | $3.3M | 435,208 | +0.10pp | 3q | +5.7%+$180.9K | |
| PIMCO NEW YORK MUN FD II | PNI | $3.3M | 467,432 | +0.04pp | 2q | -4.4%-$151.1K | |
| TPG RE FIN TR INC | TRTX | $3.0M | 362,684 | +0.15pp | 2q | +10.6%+$291.7K | |
| ENNIS INC | EBF | $3.0M | 138,956 | +0.03pp | 3q | HELD | |
| SABA CAPITAL INCOME & OPPORT | SABA | $2.9M | 347,826 | +0.04pp | 3q | HELD | |
| CLOUGH GLOBAL EQUITY FD | GLQ | $2.9M | 331,172 | +0.12pp | 7q | HELD | |
| FIRST TR HIGH YIELD OPPRT 20 | FTHY | $2.7M | 198,801 | +0.14pp | 3q | +19.6%+$445.8K | |
| LIBERTY ALL-STAR GROWTH FD I | ASG | $2.6M | 466,560 | +0.46pp | 3q | +238.1%+$1.8M | |
| FRANKLIN BSP RLTY TR INC | FBRT | $2.4M | 298,190 | +0.39pp | 2q | +201.0%+$1.6M | |
| SRH TOTAL RETURN FUND INC | STEW | $2.4M | 133,773 | +0.12pp | 3q | +14.6%+$304.6K | |
| FULGENT GENETICS INC | FLGT | $2.2M | 104,797 | +0.14pp | 7q | HELD | |
| RALLYBIO CORP COM | RLYB | $1.9M | 120,682 | +0.08pp | 2q | -36.9%-$1.1M | |
| TEJON RANCH CO | TRC | $1.7M | 90,257 | flat | 3q | -5.0%-$88.6K | |
| BLACKSTONE STRATEGIC CRED 20 | BGB | $1.6M | 144,834 | +0.03pp | 2q | HELD | |
| MIDCAP FINANCIAL INVSTMNT CO | MFIC | $1.4M | 140,477 | -0.02pp | 8q | HELD | |
| PULMONX CORP | LUNG | $1.4M | 1,064,202 | - | new | NEW | |
| ALLIANCEBERNSTEIN NATL MUN I | AFB | $1.4M | 120,993 | -0.19pp | 10q | -43.5%-$1.1M | |
| BNY MELLON MUN BD INFRASTRUC | DMB | $1.3M | 121,339 | -0.11pp | 9q | -33.7%-$679.9K | |
| AGNICO EAGLE MINES LTD | AEM | $1.2M | 8,035 | - | new | NEW | |
| MFA FINL INC | MFA | $1.2M | 128,086 | +0.02pp | 7q | HELD | |
| STARWOOD PPTY TR INC | STWD | $1.2M | 71,000 | flat | 3q | HELD | |
| HIGH INCOME SECS FD | PCF | $1.1M | 209,322 | +0.18pp | 2q | +169.0%+$719.4K | |
| COHEN & STEERS INFRASTRUCTUR | UTF | $1.1M | 38,562 | +0.03pp | 4q | HELD | |
| ARROWMARK FINANCIAL CORP | BANX | $994.0K | 50,843 | -0.08pp | 2q | -30.6%-$438.1K | |
| GABELLI EQUITY TR INC | GAB | $960.5K | 169,700 | - | new | NEW | |
| NUVEEN CHURCHILL DIRECT LEND | NCDL | $871.4K | 70,160 | +0.01pp | 3q | HELD | |
| ARES COML REAL ESTATE CORP | ACRE | $814.3K | 180,954 | +0.14pp | 2q | +254.8%+$584.8K | |
| EAGLE POINT INCOME CO | EIC | $811.1K | 80,547 | +0.02pp | 3q | HELD | |
| BLACKROCK SCIENCE & TECHNOLO | BSTZ | $805.1K | 26,810 | - | new | NEW | |
| NEWTEKONE INC | NEWT | $793.4K | 53,570 | +0.06pp | 3q | HELD | |
| CLOUGH GLOBAL DIV AND INC | GLV | $735.1K | 110,708 | +0.15pp | 3q | +474.3%+$607.1K | |
| NEUBERGER NEXT GENERATION | NBXG | $699.6K | 42,297 | +0.14pp | 2q | +304.5%+$526.6K | |
| TOTAL RETURN SECURITIES FUND | SWZ | $686.6K | 115,581 | +0.10pp | 3q | +148.8%+$410.6K | |
| NEWMONT CORP | NEM | $635.1K | 6,800 | - | new | NEW | |
| WALKER & DUNLOP INC | WD | $634.5K | 11,600 | +0.04pp | 3q | HELD | |
| VOYA EMERGING MKTS HIGH DIVI | IHD | $609.7K | 78,161 | - | new | NEW | |
| CAVCO INDS INC DEL | CVCO | $609.5K | 992 | +0.04pp | 3q | HELD | |
| SHARPLINK INC | SBET | $596.6K | 124,283 | -0.04pp | 3q | HELD | |
| EATON VANCE SR FLTNG RTE TR | EFR | $576.6K | 54,393 | +0.02pp | 3q | +9.3%+$48.9K | |
| BLACKSTONE SENI FLTN RAT 202 | BSL | $575.9K | 44,471 | +0.01pp | 2q | HELD | |
| CALAMOS GBL DYN INCOME FUND | CHW | $570.9K | 64,073 | +0.12pp | 2q | +524.1%+$479.4K | |
| BNY MELLON STRATEGIC MUNS IN | LEO | $530.1K | 82,066 | -0.15pp | 9q | -58.4%-$743.1K | |
| CALAMOS LNG SHR EQT DYNAMIC | CPZ | $504.7K | 38,584 | - | new | NEW | |
| TORO CORP COM | TORO | $487.0K | 100,000 | - | new | NEW | |
| Talphera Inc | TLPH | $481.2K | 467,152 | +0.04pp | 2q | HELD | |
| BANK OF NY MELLON CORP | BNY | $477.2K | 3,300 | - | new | NEW | |
| GOLDMAN SACHS BDC INC | GSBD | $474.0K | 50,000 | +0.01pp | 3q | HELD | |
| WESTERN ASSET INFLT LNK INC | WIA | $461.2K | 56,732 | +0.01pp | 9q | HELD | |
| CARLYLE SECURED LENDING INC | CGBD | $451.6K | 42,885 | flat | 3q | HELD | |
| CHAMPION HOMES INC | SKY | $440.6K | 5,000 | +0.02pp | 3q | HELD | |
| VERTICAL CAP INCOME FD | CCIF | $439.9K | 157,685 | -0.01pp | 3q | HELD | |
| CREDIT SUISSE HIGH YIELD BD | DHY | $439.7K | 247,026 | - | new | NEW | |
| ETHZILLA CORPORATION COM SHS | FRMM | $436.6K | 80,408 | +0.05pp | 3q | HELD | |
| EATON VANCE LIMITED DURATION | EVV | $434.8K | 46,399 | - | new | NEW | |
| M & T BK CORP | MTB | $428.4K | 1,800 | - | new | NEW | |
| PNC FINL SVCS GROUP INC | PNC | $418.6K | 1,700 | - | new | NEW | |
| NORTHERN TR CORP | NTRS | $417.2K | 2,400 | - | new | NEW | |
| WHEELER REAL ESTATE INVT TR? | WHLRL | $416.8K | 131,775? | flat | 6q | ||
| TAIWAN FD INC | TWN | $400.5K | 4,164 | -0.18pp | 2q | -77.6%-$1.4M | |
| CABALETTA BIO INC | CABA | $391.5K | 125,900 | -0.11pp | 6q | -62.7%-$657.7K | |
| CHIMERA INVT CORP | CIM | $389.2K | 29,177 | +0.01pp | 3q | HELD | |
| TRUIST FINL CORP | TFC | $388.6K | 7,800 | - | new | NEW | |
| ABRDN NATL MUN INCOME FD | VFL | $386.0K | 37,221 | - | new | NEW | |
| EATON VANCE SR INCOME TR | EVF | $372.3K | 74,751 | +0.04pp | 3q | +74.1%+$158.5K | |
| ABERDEEN MULTI-MARKET INCOME | MMT | $366.2K | 83,238 | - | new | NEW | |
| FRANCO NEV CORP | FNV | $352.3K | 1,690 | - | new | NEW | |
| DESTRA MULTI-ALTERNATIVE FD | DMA | $338.0K | 45,193 | flat | 2q | HELD | |
| DUFF & PHELPS UTLITY AND INF | DPG | $334.9K | 22,565 | +0.01pp | 2q | HELD | |
| NEW MTN FIN CORP | NMFC | $322.6K | 45,000 | flat | 3q | HELD | |
| MORGAN STANLEY DIRECT LENDIN | MSDL | $302.4K | 20,000 | +0.01pp | 3q | HELD | |
| REGIONS FINANCIAL CORP NEW | RF | $302.0K | 10,000 | - | new | NEW | |
| ABRDN LIFE SCIENCES INVESTOR | HQL | $297.6K | 14,875 | +0.02pp | 3q | HELD | |
| BLACKROCK LTD DURATION INCOM | BLW | $297.5K | 23,822 | - | new | NEW | |
| EOS ENERGY ENTERPRISES INC | EOSE | $294.0K | 50,000 | - | new | NEW | |
| PLAYSTUDIOS INC | MYPS | $289.2K | 579,467 | -0.43pp | 4q | -87.7%-$2.1M | |
| KAYNE ANDERSON ENERGY INFRST | KYN | $287.6K | 20,799 | - | new | NEW | |
| BLACKROCK TCP CAPITAL CORP | TCPC | $285.6K | 85,000 | flat | 3q | HELD | |
| FS KKR CAP CORP | FSK | $283.8K | 27,031 | -0.19pp | 3q | -75.8%-$888.0K | |
| BLACKSTONE LONG SHORT CR INC | BGX | $272.9K | 25,085 | flat | 2q | HELD | |
| GOLUB CAP BDC INC | GBDC | $257.6K | 20,000 | flat | 3q | HELD | |
| BLACKROCK MULTI SECTOR INC T | BIT | $244.7K | 19,543 | flat | 4q | HELD | |
| EATON VANCE TAX-MANAGED GLOB | ETW | $243.7K | 25,276 | +0.03pp | 2q | +83.5%+$110.9K | |
| HANCOCK JOHN PREM DIVID FD | PDT | $207.7K | 16,037 | - | new | NEW | |
| BNY MELLON HIGH YIELD STRATE | DHF | $192.8K | 79,665 | flat | 2q | +0.5% | |
| BLACKROCK CR ALLOCATION | BTZ | $190.7K | 18,660 | - | new | NEW | |
| BAIN CAP SPECIALTY FIN INC | BCSF | $187.8K | 15,000 | flat | 3q | HELD | |
| CREDIT SUISSE ASSET MGMT INCCO | CIK | $155.2K | 62,565 | - | new | NEW | |
| BLACKROCK CORE BD TR | BHK | $154.2K | 16,812 | - | new | NEW | |
| COHEN & STEERS TOTAL RETURN | RFI | $152.2K | 13,443 | - | new | NEW | |
| NUVEEN CR STRATEGIES INCOME | JQC | $136.3K | 28,041 | - | new | NEW | |
| BLACKROCK MUNIHLDNGS CALI | MUC | $130.8K | 11,900 | flat | 2q | HELD | |
| RIVERNORTH DOUBLELINE STRATE | OPP | $112.0K | 14,511 | -0.03pp | 3q | -57.3%-$150.2K | |
| ABERDEEN GOVT MARKETS INCOME | MGF | $57.4K | 20,000 | - | new | NEW | |
| GAMCO GLOBAL GOLD NAT RES & | GGN | $49.7K | 10,272 | - | new | NEW | |
| GRANITE PT MTG TR INC | GPMT | $22.5K | 14,992 | flat | 2q | HELD | |
| COHEN & STEERS QUALITY INCOM | RQIRT | $745 | 50,000 | - | new | NEW |
By sector
Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.
| Sector | Value | Share |
|---|---|---|
| Funds & ETFs | $231.5M | 55.5% |
| Capital Markets | $69.7M | 16.7% |
| Biotech & Pharma | $56.5M | 13.6% |
| Real Estate | $22.2M | 5.3% |
| Retail & Consumer | $10.7M | 2.6% |
| Other sectors | $15.7M | 3.8% |
| Not classified | $10.6M | 2.5% |
What the disclosed book did
This is not the fund's return. A 13F shows long US equity positions only, so shorts, bonds, foreign listings, private holdings and cash are all invisible here. What this measures is the quarter's change in value of the positions this manager disclosed, had they been left untouched - the return a reader following the filing would have earned.
| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +1.8% | +14.8% | -13.1% | 93% |
| Q1 2026 | -12.1% | -4.6% | -7.5% | 99% |
| Q4 2025 | -8.9% | +2.4% | -11.3% | 95% |
| Q3 2025 | +17.5% | +7.8% | +9.6% | 87% |
| Q2 2025 | +62.8% | +10.5% | +52.3% | 96% |
| Q1 2025 | -10.2% | -4.6% | -5.6% | 93% |
| Q4 2024 | +8.0% | +2.1% | +5.8% | 87% |
| Q3 2024 | +7.3% | +5.4% | +1.9% | 98% |
Market is SPY over the same two quarter ends, priced the same way as everything else here - the median across every filer reporting it. It is a large-cap US proxy, so a manager holding small caps or biotech will beat or trail it for reasons that are not skill. Prices are quarter-end to quarter-end and say nothing about the path in between, or about trades opened and closed inside a quarter.
Quarter by quarter
| Quarter | Value | Positions | New | Added | Trimmed | Exited | Top 10 | Days to file |
|---|---|---|---|---|---|---|---|---|
| Q2 2026 | $417.4M | 130 | 35 | 31 | 21 | 20 | 52.4% | 48 |
| Q1 2026 | $442.5M | 115 | 32 | 30 | 12 | 24 | 57.8% | 45 |
| Q4 2025 | $454.2M | 107 | 57 | 5 | 45 | 16 | 63.0% | 48 |
| Q3 2025 | $866.7M | 66 | 19 | 43 | 4 | 35 | 71.9% | 45 |
| Q2 2025 | $396.4M | 82 | 21 | 28 | 21 | 20 | 68.7% | 45 |
| Q1 2025 | $301.4M | 81 | 14 | 31 | 17 | 25 | 67.5% | 45 |
| Q4 2024 | $456.3M | 92 | 45 | 23 | 13 | 21 | 67.0% | 45 |
| Q3 2024 | $283.0M | 68 | 13 | 20 | 25 | 21 | 60.0% | 45 |
| Q2 2024 | $240.5M | 76 | 23 | 25 | 22 | 16 | 52.3% | 46 |
| Q1 2024 | $242.1M | 69 | 7 | 21 | 33 | 54 | 46.8% | 44 |
| Q4 2023 | $290.2M | 116 | 45 | 46 | 15 | 17 | 42.8% | 45 |
| Q3 2023 | $208.8M | 88 | 18 | 28 | 27 | 22 | 48.5% | 52 |
| Q2 2023 | $233.9M | 92 | 22 | 40 | 15 | 27 | 48.2% | 42 |
| Q1 2023 | $209.3M | 97 | 22 | 30 | 26 | 53 | 47.0% | 45 |
| Q4 2022 | $217.0M | 128 | 67 | 25 | 16 | 23 | 48.4% | 45 |
| Q3 2022 | $133.9M | 84 | 12 | 19 | 21 | 45 | 59.5% | 45 |
| Q2 2022 | $193.4M | 117 | 43 | 22 | 19 | 9 | 56.7% | 46 |
| Q1 2022 | $167.6M | 83 | 58 | 12 | 11 | 28 | 54.5% | 46 |
| Q4 2020 | $98.5M | 53 | 20 | 14 | 13 | 13 | 57.2% | 47 |
| Q3 2020 | $73.7M | 46 | 13 | 12 | 12 | 13 | 63.9% | 44 |
| Q2 2020 | $80.2M | 46 | 19 | 7 | 11 | 19 | 61.8% | 45 |
| Q1 2020 | $45.2M | 46 | 14 | 9 | 18 | 33 | 61.4% | 44 |
| Q4 2019 | $114.8M | 65 | 25 | 14 | 12 | 7 | 52.9% | 45 |
| Q3 2019 | $93.5M | 47 | 8 | 10 | 13 | 16 | 61.6% | 45 |
| Q2 2019 | $96.3M | 55 | 10 | 9 | 17 | 15 | 58.6% | 45 |
| Q1 2019 | $140.0M | 60 | 13 | 23 | 15 | 38 | 58.1% | 44 |
| Q4 2018 | $148.5M | 85 | 0 | 0 | 0 | 0 | 50.1% | 45 |
Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.
Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.
Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.