Portfolio concentration
As of March 31, 2026 · N-PORT
Holdings
26
Top-10 weight
68.96%
Effective holdings
?
The number of equal-weight positions that would produce this portfolio's concentration (1 ÷ Herfindahl index). A 500-stock fund dominated by a few mega-caps might have only ~100 effective holdings.
14
Crowding
?
The value-weighted average number of funds that also own this fund's positions. High = consensus/crowded picks; low = holdings few other funds own.
276.5
Holdings
As of March 31, 2026 · N-PORT| # | Security | Ticker | Shares | Value | % of fund |
|---|---|---|---|---|---|
| 1 | ANNALY CAPITAL MGMT INC REIT | — | 3,092,786 | $65.41M | 16.64% |
| 2 | AGNC INVESTMENT CORP | — | 5,131,446 | $51.47M | 13.09% |
| 3 | STARWOOD PROPERTY TRUST INC | — | 1,635,298 | $28.16M | 7.16% |
| 4 | RITHM CAPITAL CORP | — | 2,722,273 | $25.81M | 6.56% |
| 5 | DYNEX CAPITAL | — | 1,480,461 | $18.89M | 4.80% |
| 6 | BLACKSTONE MORTGAGE TR CL A | — | 951,332 | $18.22M | 4.63% |
| 7 | ARMOUR RESIDENTIAL REIT INC | — | 1,010,505 | $16.86M | 4.29% |
| 8 | ORCHID ISLAND CAPITAL INC | — | 2,330,400 | $16.38M | 4.17% |
| 9 | ELLINGTON FINANCIAL INC | — | 1,312,621 | $15.55M | 3.96% |
| 10 | ARBOR REALTY TRUST INC | — | 1,933,169 | $14.90M | 3.79% |
| 11 | APOLLO COMMERCIA | — | 1,197,821 | $12.65M | 3.22% |
| 12 | TWO HBRS INVT CORP | — | 1,010,569 | $11.54M | 2.93% |
| 13 | LADDER CAPITAL CORP CL A | — | 1,174,430 | $11.47M | 2.92% |
| 14 | CHIMERA INVESTMENT CORP | — | 824,057 | $10.34M | 2.63% |
| 15 | MFA FINANCIAL INC | — | 1,075,110 | $10.30M | 2.62% |
| 16 | State Street Navigator Securities Lending Portfolio II | GVMXX | 9,273,978 | $9.27M | 2.36% |
| 17 | PENNYMAC MORTGAGE INV TRUST | — | 746,624 | $8.71M | 2.21% |
| 18 | INVESCO MORTGAGE CAPITAL INC | — | 920,180 | $7.44M | 1.89% |
| 19 | NEW YORK MTGE | — | 929,230 | $6.84M | 1.74% |
| 20 | BRIGHTSPIRE CAPITAL INC | — | 1,220,735 | $6.84M | 1.74% |
| 21 | FRANKLIN BSP REALTY TRUST INC | — | 768,414 | $6.52M | 1.66% |
| 22 | TPG RE FINANCE TRUST INC | — | 753,805 | $5.89M | 1.50% |
| 23 | REDWOOD TRUST INC REIT | — | 974,977 | $5.47M | 1.39% |
| 24 | KKR REAL ESTATE FINANCE TRUST INC | — | 543,174 | $3.32M | 0.85% |
| 25 | ARES COMMERCIAL REAL ESTATE CO | — | 619,029 | $2.97M | 0.76% |
| 26 | CHICAGO ATLANTIC | — | 238,424 | $2.70M | 0.69% |
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