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Almitas Capital LLC

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13F filer, CIK 1596468, SANTA MONICA, CA

Almitas Capital LLC reported $454,173,562 across 107 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 63.04% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001596468-26-000002

Period
2025-12-31
Reported value
$454M
Holdings
107
Top 10 weight
63.04%
New
58
Sold out
17

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ELMEnew+1,012,210$17.6M
FSSLnew+801,778$11.3M
MRCCadded+890,139$5.67M
USAnew+804,614$5.05M
HYGnew+60,000$4.84M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
PIONEER FLOATING RATE FUND Iexited-699,986-$6.97M
BITreduced-495,363-$6.47M
EATON VANCE NEW YORK MUN BDexited-617,454-$6.09M
FBTCreduced-75,000-$5.72M
IGFexited-92,922-$5.68M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001596468-26-000002, largest first. % of portfolio is the value over $454,173,562, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
FBTCFIDELITY WISE ORIGIN BITCOINQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,115,370 shares; 2024Q4: 1,731,994 shares; 2025Q1: 1,652,409 shares; 2025Q2: 1,611,637 shares; 2025Q3: 1,611,637 shares; 2025Q4: 1,536,637 shares 1,536,637$117M25.79%-75,000Timeline
BTTBLACKROCK MUN TARGET TERM TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 536,911 shares; 2024Q4: 1,501,061 shares; 2025Q1: 1,558,862 shares; 2025Q2: 1,558,260 shares; 2025Q3: 1,539,263 shares; 2025Q4: 1,486,013 shares 1,486,013$33.9M7.47%-53,250Timeline
AMLXAMYLYX PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,988,563 shares; 2024Q4: 2,032,370 shares; 2025Q1: 2,122,597 shares; 2025Q2: 2,122,597 shares; 2025Q3: 2,122,597 shares; 2025Q4: 2,122,597 shares 2,122,597$25.6M5.65%0Timeline
ASAASA GOLD AND PRECIOUS MTLS LQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 335,342 shares; 2025Q4: 382,139 shares 382,139$22.8M5.02%+46,797Timeline
FETHFIDELITY ETHEREUM FDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 941,057 shares; 2025Q1: not reported; 2025Q2: 650,000 shares; 2025Q3: 650,000 shares; 2025Q4: 650,000 shares 650,000$19.2M4.24%0Timeline
LYELLYELL IMMUNOPHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 579,997 shares; 2025Q3: 577,807 shares; 2025Q4: 577,807 shares 577,807$17.8M3.92%0Timeline
ELMEELME COMMUNITIESQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,012,210 shares 1,012,210$17.6M3.88%newTimeline
DSGNDESIGN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,323,667 shares; 2024Q4: 1,323,667 shares; 2025Q1: 1,452,896 shares; 2025Q2: 1,530,435 shares; 2025Q3: 1,530,435 shares; 2025Q4: 1,530,435 shares 1,530,435$14.4M3.16%0Timeline
FSSLFS SPECIALTY LENDING FDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 801,778 shares 801,778$11.3M2.5%newTimeline
CNNECANNAE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 143,651 shares; 2025Q2: 320,986 shares; 2025Q3: 556,688 shares; 2025Q4: 411,893 shares 411,893$6.48M1.43%-144,795Timeline
MRCCMONROE CAP CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 108,905 shares; 2025Q4: 999,044 shares 999,044$6.36M1.4%+890,139Timeline
CCAPCRESCENT CAP BDC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 24,200 shares; 2025Q2: 348,015 shares; 2025Q3: 376,461 shares; 2025Q4: 444,234 shares 444,234$6.24M1.37%+67,773Timeline
BRSPBRIGHTSPIRE CAPITAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 356,322 shares; 2025Q1: 478,415 shares; 2025Q2: 1,029,464 shares; 2025Q3: 1,029,464 shares; 2025Q4: 1,029,464 shares 1,029,464$5.76M1.27%0Timeline
DSMBNY MELLON STRATEGIC MUN BDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 625,461 shares; 2025Q1: 851,087 shares; 2025Q2: 851,087 shares; 2025Q3: 851,087 shares; 2025Q4: 926,301 shares 926,301$5.72M1.26%+75,214Timeline
XPCQXPIMCO CALIF MUN INCOME FDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 204,489 shares; 2025Q2: 215,362 shares; 2025Q3: 152,998 shares; 2025Q4: 640,607 shares 640,607$5.59M1.23%+487,609Timeline
CMUMFS HIGH YIELD MUN TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 141,260 shares; 2024Q4: 344,105 shares; 2025Q1: 416,545 shares; 2025Q2: 651,635 shares; 2025Q3: 1,507,168 shares; 2025Q4: 1,497,718 shares 1,497,718$5.26M1.16%-9,450Timeline
USALIBERTY ALL STAR EQUITY FDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 804,614 shares 804,614$5.05M1.11%newTimeline
ETHAISHARES ETHEREUM TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 219,405 shares; 2025Q3: 219,405 shares; 2025Q4: 219,405 shares 219,405$4.92M1.08%0Timeline
HYGISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 60,000 shares 60,000$4.84M1.07%newTimeline
JOFJAPAN SMALLER CAPITALIZATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 497,471 shares; 2024Q4: 497,471 shares; 2025Q1: 511,819 shares; 2025Q2: 511,819 shares; 2025Q3: 481,642 shares; 2025Q4: 435,985 shares 435,985$4.83M1.06%-45,657Timeline
GLOCLOUGH GLOBAL OPPORTUNITIESQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 162,941 shares; 2024Q4: 455,226 shares; 2025Q1: 421,880 shares; 2025Q2: 427,680 shares; 2025Q3: 491,858 shares; 2025Q4: 790,286 shares 790,286$4.47M0.98%+298,428Timeline
CXEMFS HIGH INCOME MUN TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 720,853 shares; 2024Q4: 921,837 shares; 2025Q1: 1,047,002 shares; 2025Q2: 1,103,430 shares; 2025Q3: 1,103,430 shares; 2025Q4: 1,193,886 shares 1,193,886$4.42M0.97%+90,456Timeline
XNQPXNUVEEN PA INVT QUALITY MUN FQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,166,111 shares; 2024Q4: 822,642 shares; 2025Q1: 783,803 shares; 2025Q2: 711,065 shares; 2025Q3: 378,058 shares; 2025Q4: 368,795 shares 368,795$4.38M0.97%-9,263Timeline
DTFDTF TAX-FREE INCOME 2028 TERQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 327,374 shares; 2024Q4: 322,432 shares; 2025Q1: 309,611 shares; 2025Q2: 350,128 shares; 2025Q3: 350,940 shares; 2025Q4: 350,940 shares 350,940$4.01M0.88%0Timeline
ARRARMOUR RESIDENTIAL REIT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 217,149 shares; 2025Q4: 217,149 shares 217,149$3.84M0.85%0Timeline
MXFMEXICO FD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 141,348 shares; 2024Q4: 317,846 shares; 2025Q1: 344,264 shares; 2025Q2: 329,680 shares; 2025Q3: 202,961 shares; 2025Q4: 185,924 shares 185,924$3.74M0.82%-17,037Timeline
CXHMFS INVT GRADE MUN TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 477,454 shares; 2024Q4: 477,454 shares; 2025Q1: 470,435 shares; 2025Q2: 448,169 shares; 2025Q3: 487,688 shares; 2025Q4: 454,909 shares 454,909$3.62M0.8%-32,779Timeline
BPREBLUEROCK PVT REAL ESTATE FDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 212,185 shares 212,185$3.18M0.7%newTimeline
QNCXQUINCE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 382,882 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 494,778 shares; 2025Q4: 930,134 shares 930,134$3.12M0.69%+435,356Timeline
CEETHE CENTRAL AND EASTERN EU IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 178,207 shares; 2024Q4: 180,190 shares; 2025Q1: 180,190 shares; 2025Q2: 173,354 shares; 2025Q3: 173,254 shares; 2025Q4: 173,254 shares 173,254$3.07M0.68%0Timeline
ALXOALX ONCOLOGY HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,222,945 shares; 2025Q1: 1,353,141 shares; 2025Q2: 2,538,355 shares; 2025Q3: 2,536,891 shares; 2025Q4: 2,536,891 shares 2,536,891$2.87M0.63%0Timeline
PDXPIMCO DYNAMIC INCOME STRATEGQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 151,260 shares 151,260$2.84M0.63%newTimeline
MYPSPLAYSTUDIOS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 931,588 shares; 2025Q4: 4,047,346 shares 4,047,346$2.64M0.58%+3,115,758Timeline
NLYANNALY CAPITAL MANAGEMENT INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 390,718 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 115,765 shares; 2025Q4: 115,765 shares 115,765$2.59M0.57%0Timeline
MSGSMADISON SQUARE GRDN SPRT CORQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 9,910 shares; 2025Q2: 9,925 shares; 2025Q3: 9,925 shares; 2025Q4: 9,925 shares 9,925$2.57M0.57%0Timeline
ETHGRAYSCALE ETHEREUM STAKINGQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 515,011 shares; 2025Q1: not reported; 2025Q2: 89,557 shares; 2025Q3: 89,557 shares; 2025Q4: 89,557 shares 89,557$2.51M0.55%0Timeline
EBFENNIS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 138,956 shares 138,956$2.5M0.55%newTimeline
XGLQXCLOUGH GLOBAL EQUITY FDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 51,534 shares; 2025Q1: 70,720 shares; 2025Q2: 77,303 shares; 2025Q3: 114,007 shares; 2025Q4: 322,982 shares 322,982$2.47M0.54%+208,975Timeline
AFBALLIANCEBERNSTEIN NATL MUN IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 149,896 shares; 2024Q4: 187,470 shares; 2025Q1: 187,470 shares; 2025Q2: 214,484 shares; 2025Q3: 214,282 shares; 2025Q4: 214,282 shares 214,282$2.32M0.51%0Timeline
BMEZBLACKROCK HEALTH SCIENCES TEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,504,393 shares; 2024Q4: 1,339,598 shares; 2025Q1: 204,834 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 152,914 shares 152,914$2.3M0.51%newTimeline
LADRLADDER CAP CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 145,892 shares; 2025Q1: 146,523 shares; 2025Q2: 180,693 shares; 2025Q3: 180,693 shares; 2025Q4: 189,357 shares 189,357$2.08M0.46%+8,664Timeline
NPCTNUVEEN CORE PLUS IMPACT FUNDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 355,306 shares; 2024Q4: 269,668 shares; 2025Q1: 269,668 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 204,356 shares 204,356$2.08M0.46%newTimeline
DMBBNY MELLON MUN BD INFRASTRUCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 43,847 shares; 2024Q4: 63,654 shares; 2025Q1: 103,475 shares; 2025Q2: 99,948 shares; 2025Q3: 119,431 shares; 2025Q4: 182,924 shares 182,924$2.01M0.44%+63,493Timeline
DIAXNUVEEN DOW 30SM DYNAMIC OVERWRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 114,201 shares 114,201$1.74M0.38%newTimeline
ANTXAN2 THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,313,111 shares; 2025Q1: 1,313,111 shares; 2025Q2: 1,428,323 shares; 2025Q3: 1,428,323 shares; 2025Q4: 1,479,129 shares 1,479,129$1.69M0.37%+50,806Timeline
FSKFS KKR CAP CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 106,600 shares 106,600$1.58M0.35%newTimeline
MFICMIDCAP FINANCIAL INVSTMNT COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 71,953 shares; 2024Q4: 135,444 shares; 2025Q1: 142,884 shares; 2025Q2: 92,717 shares; 2025Q3: 92,717 shares; 2025Q4: 135,477 shares 135,477$1.55M0.34%+42,760Timeline
TRCTEJON RANCH COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 93,137 shares 93,137$1.47M0.32%newTimeline
ANROALTO NEUROSCIENCE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 266,912 shares; 2025Q1: 234,386 shares; 2025Q2: 195,145 shares; 2025Q3: 195,145 shares; 2025Q4: 78,520 shares 78,520$1.4M0.31%-116,625Timeline
STWDSTARWOOD PPTY TR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 71,000 shares 71,000$1.28M0.28%newTimeline
LEOBNY MELLON STRATEGIC MUNS INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 57,374 shares; 2024Q4: 106,854 shares; 2025Q1: 145,014 shares; 2025Q2: 195,840 shares; 2025Q3: 197,096 shares; 2025Q4: 197,096 shares 197,096$1.25M0.28%0Timeline
MFAMFA FINL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 77,440 shares; 2025Q1: 77,440 shares; 2025Q2: 77,440 shares; 2025Q3: 77,440 shares; 2025Q4: 128,086 shares 128,086$1.19M0.26%+50,646Timeline
GERNGERON CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 946,323 shares; 2025Q4: 896,323 shares 896,323$1.18M0.26%-50,000Timeline
SBETSHARPLINK INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 124,283 shares 124,283$1.11M0.24%newTimeline
HPPHUDSON PACIFIC PROPERTIES INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 97,816 shares 97,816$1.06M0.23%newTimeline
RALLYBIO CORPRALLYBIO CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 875,434 shares; 2024Q4: 1,298,119 shares; 2025Q1: 1,300,581 shares; 2025Q2: 1,817,492 shares; 2025Q3: 1,538,727 shares; 2025Q4: 1,529,653 shares 1,529,653$1.05M0.23%-9,074
NCDLNUVEEN CHURCHILL DIRECT LENDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 70,160 shares 70,160$936K0.21%newTimeline
UTFCOHEN & STEERS INFRASTRUCTURQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 25,500 shares; 2025Q4: 38,562 shares 38,562$930K0.2%+13,062Timeline
JFRNUVEEN FLOATING RATE INCOMEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 117,948 shares 117,948$924K0.2%newTimeline
EICEAGLE POINT INCOME COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 80,547 shares 80,547$919K0.2%newTimeline
FCTFIRST TR SR FLTG RATE INCOMEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 88,034 shares 88,034$887K0.2%newTimeline
CABACABALETTA BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 367,491 shares; 2025Q2: 367,491 shares; 2025Q3: 387,491 shares; 2025Q4: 387,491 shares 387,491$849K0.19%0Timeline
MEGINYLIM CBRE GLOBALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 160,901 shares; 2025Q1: 226,124 shares; 2025Q2: 39,612 shares; 2025Q3: not reported; 2025Q4: 61,653 shares 61,653$848K0.19%newTimeline
ZNTLZENTALIS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 960,928 shares; 2024Q4: 1,626,896 shares; 2025Q1: 1,710,921 shares; 2025Q2: 1,599,266 shares; 2025Q3: 457,322 shares; 2025Q4: 610,073 shares 610,073$824K0.18%+152,751Timeline
BCATBLACKROCK CAP ALLOCATION TERQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 55,000 shares 55,000$779K0.17%newTimeline
FTHYFIRST TR HIGH YIELD OPPRT 20Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 55,326 shares 55,326$778K0.17%newTimeline
CCIFCARLYLE CREDIT INCOME FUNDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 157,285 shares 157,285$738K0.16%newTimeline
MFMABERDEEN MUN INCOME FDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 134,361 shares 134,361$730K0.16%newTimeline
WDWALKER & DUNLOP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 11,600 shares 11,600$698K0.15%newTimeline
CRFCORNERSTONE TOTAL RETURN FDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 831,088 shares; 2025Q3: not reported; 2025Q4: 86,417 shares 86,417$692K0.15%newTimeline
EFTEATON VANCE FLOATING RATE INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 59,404 shares 59,404$671K0.15%newTimeline
NEWTNEWTEKONE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 53,570 shares 53,570$608K0.13%newTimeline
XWIAXWESTERN ASSET INFLT LNK INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 159,057 shares; 2024Q4: 159,057 shares; 2025Q1: 159,057 shares; 2025Q2: 151,642 shares; 2025Q3: 95,779 shares; 2025Q4: 72,863 shares 72,863$603K0.13%-22,916Timeline
CVCOCAVCO INDS INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 992 shares 992$586K0.13%newTimeline
ASGLIBERTY ALL-STAR GROWTH FD IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 110,481 shares 110,481$586K0.13%newTimeline
CGBDCARLYLE SECURED LENDING INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 42,885 shares 42,885$536K0.12%newTimeline
STEWSRH TOTAL RETURN FUND INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 220,762 shares; 2024Q4: 301,991 shares; 2025Q1: 301,991 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 28,719 shares 28,719$532K0.12%newTimeline
SABASABA CAPITAL INCOME & OPPORTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 64,130 shares 64,130$529K0.12%newTimeline
FLGTFULGENT GENETICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 16,000 shares; 2025Q1: 28,718 shares; 2025Q2: 31,060 shares; 2025Q3: 21,478 shares; 2025Q4: 18,478 shares 18,478$485K0.11%-3,000Timeline
TCPCBLACKROCK TCP CAPITAL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 85,000 shares 85,000$465K0.1%newTimeline
GSBDGOLDMAN SACHS BDC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 50,000 shares 50,000$464K0.1%newTimeline
WHLRLWHEELER REAL ESTATE INVT TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 5,271 shares; 2025Q2: 5,271 shares; 2025Q3: 5,271 shares; 2025Q4: 5,271 shares 5,271$461K0.1%0Timeline
EMOCLEARBRIDGE ENERGY MIDSTREAMQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 9,549 shares 9,549$426K0.09%newTimeline
SKYCHAMPION HOMES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 5,000 shares 5,000$422K0.09%newTimeline
SDHYPGIM SHORT DUR HIG YLD OPP FQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 491,022 shares; 2024Q4: 462,098 shares; 2025Q1: 196,468 shares; 2025Q2: 178,271 shares; 2025Q3: 39,115 shares; 2025Q4: 25,277 shares 25,277$416K0.09%-13,838Timeline
NMFCNEW MTN FIN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 45,000 shares 45,000$414K0.09%newTimeline
FRMMFORUM MARKETS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 80,408 shares 80,408$394K0.09%newTimeline
CPZCALAMOS LNG SHR EQT DYNAMICQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 25,204 shares 25,204$368K0.08%newTimeline
CIMCHIMERA INVT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 66,839 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 29,177 shares 29,177$363K0.08%newTimeline
MSDLMORGAN STANLEY DIRECT LENDINQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 20,000 shares 20,000$330K0.07%newTimeline
HQLABRDN LIFE SCIENCES INVESTORQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 19,239 shares 19,239$323K0.07%newTimeline
XEFRXEATON VANCE SR FLTNG RTE TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 28,829 shares 28,829$321K0.07%newTimeline
XJQCXNUVEEN CR STRATEGIES INCOMEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 63,388 shares; 2025Q3: not reported; 2025Q4: 63,304 shares 63,304$318K0.07%newTimeline
GBDCGOLUB CAP BDC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 20,000 shares 20,000$271K0.06%newTimeline
OPPRIVERNORTH DOUBLELINE STRATEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 33,963 shares 33,963$270K0.06%newTimeline
BITBLACKROCK MULTI SECTOR INC TQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 514,906 shares; 2025Q4: 19,543 shares 19,543$255K0.06%-495,363Timeline
SWZTOTAL RETURN SECURITIES FUNDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 36,781 shares 36,781$229K0.05%newTimeline
BCSFBAIN CAP SPECIALTY FIN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 15,000 shares 15,000$209K0.05%newTimeline
ETJEATON VANCE RISK-MANAGED DIVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 20,661 shares 20,661$182K0.04%newTimeline
RVTROYCE SMALL CAP TRUST INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 10,456 shares 10,456$168K0.04%newTimeline
BXMXNUVEEN S&P 500 BUY-WRITE INCOMQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 10,320 shares 10,320$152K0.03%newTimeline
VVRINVESCO SR INCOME TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 43,310 shares 43,310$142K0.03%newTimeline
NUVEEN CALIFORNIA SELECT TA…NUVEEN CALIFORNIA SELECT TAX-FQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 10,372 shares 10,372$137K0.03%new
HYTBLACKROCK CORPOR HI YLD FD IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 15,000 shares 15,000$134K0.03%newTimeline
GLVCLOUGH GLOBAL DIVID & INCOMEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 78,077 shares; 2024Q4: 19,617 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 19,287 shares 19,287$115K0.03%newTimeline
EVFEATON VANCE SR INCOME TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 14,653 shares 14,653$77.2K0.02%newTimeline

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
TWO HARBORS INVENTMENT CORPOTWO HARBORS INVENTMENT CORPO NOTE 6.250% 1/1principal1,613,000$1.61Mnew

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
PIONEER FLOATING RATE FUND IPIONEER FLOATING RATE FUND I699,986$6.97Mshares
EATON VANCE NEW YORK MUN BDEATON VANCE NEW YORK MUN BD617,454$6.09Mshares
IGFISHARES TR92,922$5.68Mshares
FG NEXUS INC.FG NEXUS INC.800,000$4.39Mshares
ABRDN JAPAN EQUITY FUND INCABRDN JAPAN EQUITY FUND INC490,174$3.86Mshares
OXLCOXFORD LANE CAP CORP119,999$2.03Mshares
EATON VANCE CALIFORNIA MUNI…EATON VANCE CALIFORNIA MUNI BO208,466$1.98Mshares
TWO HARBORS INVENTMENT CORPOTWO HARBORS INVENTMENT CORPO1,613,000$1.59Mshares
VTGNVISTAGEN THERAPEUTICS INC261,399$928Kshares
MSIFMSC INCOME FUND INC30,146$396Kshares
CEVEATON VANCE CALIF MUN INCOM18,152$183Kshares
BKTBLACKROCK INCOME TR INC13,000$146Kshares
BOLDBOUNDLESS BIO INC86,808$107Kshares
COHEN & STEERS INFRASTRUCTURCOHEN & STEERS INFRASTRUCTUR185,878$14.5Kshares
CLEARBRIDGE ENERGY MIDSTRM OCLEARBRIDGE ENERGY MIDSTRM O77,036$1.46Kshares
RIVERNORTH OPPORTUNITIES FDRIVERNORTH OPPORTUNITIES FD140,834$1.14Kshares
BLACKROCK INCOME TR INCBLACKROCK INCOME TR INC13,000$767shares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001596468-26-000002 base2026-02-17acceptance time not in the bulk data set