Portfolio concentration
As of March 31, 2026 · N-PORT
Holdings
35
Top-10 weight
72.09%
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.
11
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.
262.9
Holdings
As of March 31, 2026 · N-PORT| # | Security | Ticker | Shares | Value | % of fund |
|---|---|---|---|---|---|
| 1 | ANNALY CAPITAL MGMT INC REIT | — | 5,600,670 | $118.45M | 21.72% |
| 2 | AGNC INVESTMENT CORP | — | 7,722,852 | $77.46M | 14.20% |
| 3 | STARWOOD PROPERTY TRUST INC | — | 2,414,481 | $41.58M | 7.62% |
| 4 | BLACKSTONE MORTGAGE TR CL A | — | 1,307,408 | $25.04M | 4.59% |
| 5 | RITHM CAPITAL CORP | — | 2,601,257 | $24.66M | 4.52% |
| 6 | DYNEX CAPITAL | — | 1,867,723 | $23.83M | 4.37% |
| 7 | ARMOUR RESIDENTIAL REIT INC | — | 1,331,689 | $22.21M | 4.07% |
| 8 | ARBOR REALTY TRUST INC | — | 2,292,620 | $17.68M | 3.24% |
| 9 | APOLLO COMMERCIA | — | 1,647,792 | $17.40M | 3.19% |
| 10 | ELLINGTON FINANCIAL INC | — | 1,437,630 | $17.04M | 3.12% |
| 11 | ORCHID ISLAND CAPITAL INC | — | 2,185,668 | $15.37M | 2.82% |
| 12 | TWO HBRS INVT CORP | — | 1,231,608 | $14.06M | 2.58% |
| 13 | LADDER CAPITAL CORP CL A | — | 1,347,454 | $13.16M | 2.41% |
| 14 | CHIMERA INVESTMENT CORP | — | 964,701 | $12.11M | 2.22% |
| 15 | PENNYMAC MORTGAGE INV TRUST | — | 1,029,251 | $12.00M | 2.20% |
| 16 | MFA FINANCIAL INC | — | 1,214,894 | $11.64M | 2.13% |
| 17 | BRIGHTSPIRE CAPITAL INC | — | 1,521,521 | $8.52M | 1.56% |
| 18 | REDWOOD TRUST INC REIT | — | 1,494,342 | $8.38M | 1.54% |
| 19 | FRANKLIN BSP REALTY TRUST INC | — | 965,558 | $8.20M | 1.50% |
| 20 | NEW YORK MTGE | — | 1,003,304 | $7.38M | 1.35% |
| 21 | INVESCO MORTGAGE CAPITAL INC | — | 909,020 | $7.34M | 1.35% |
| 22 | TPG RE FINANCE TRUST INC | — | 843,040 | $6.58M | 1.21% |
| 23 | KKR REAL ESTATE FINANCE TRUST INC | — | 650,575 | $3.98M | 0.73% |
| 24 | ARES COMMERCIAL REAL ESTATE CO | — | 623,616 | $2.99M | 0.55% |
| 25 | READY CAPITAL CORP | — | 1,726,873 | $2.80M | 0.51% |
| 26 | CLAROS MORTGAGE TRUST INC | — | 1,088,469 | $2.59M | 0.48% |
| 27 | TPG MORTGAGE INVESTMENT TRUST INC | — | 337,250 | $2.47M | 0.45% |
| 28 | CHICAGO ATLANTIC | — | 214,046 | $2.42M | 0.44% |
| 29 | SEVEN HILLS REALTY TRUST | — | 260,467 | $2.14M | 0.39% |
| 30 | ACRES COMMERCIAL REALTY CORP | — | 71,658 | $1.38M | 0.25% |
| 31 | ANGEL OAK MORTGAGE REIT INC | — | 167,616 | $1.38M | 0.25% |
| 32 | NEXPOINT REAL ESTATE FINANCE | — | 78,822 | $1.06M | 0.19% |
| 33 | BLACKROCK GLOBAL | — | 549,917 | $550.03K | 0.10% |
| 34 | BLACKROCK CASH FUNDS | — | 543,783 | $543.78K | 0.10% |
| 35 | WHEAT (CBT) | WNH6P116 | 341 | $123.74K | 0.02% |
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