Portfolio concentration
As of June 30, 2025 · N-PORT
Holdings
25
Top-10 weight
46.84%
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.
24
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.
201.6
Holdings
As of June 30, 2025 · N-PORT| # | Security | Ticker | Shares | Value | % of fund |
|---|---|---|---|---|---|
| 1 | STARWOOD PROPERTY TRUST INC | — | 85,176 | $1.71M | 4.99% |
| 2 | APOLLO COMMERCIA | — | 172,425 | $1.67M | 4.88% |
| 3 | CHIMERA INVESTMENT CORP | — | 115,525 | $1.60M | 4.68% |
| 4 | BLACKSTONE MORTGAGE TR CL A | — | 82,450 | $1.59M | 4.64% |
| 5 | LADDER CAPITAL CORP CL A | — | 146,309 | $1.57M | 4.59% |
| 6 | TPG RE FINANCE TRUST INC | — | 199,778 | $1.54M | 4.51% |
| 7 | NEW YORK MTGE | — | 229,181 | $1.54M | 4.49% |
| 8 | ELLINGTON FINANCIAL INC | — | 116,214 | $1.51M | 4.41% |
| 9 | RITHM CAPITAL CORP | — | 132,183 | $1.49M | 4.36% |
| 10 | REDWOOD TRUST INC REIT | — | 252,173 | $1.49M | 4.35% |
| 11 | ARBOR REALTY TRUST INC | — | 139,011 | $1.49M | 4.35% |
| 12 | READY CAPITAL CORP | — | 340,021 | $1.49M | 4.34% |
| 13 | BRIGHTSPIRE CAPITAL INC | — | 292,115 | $1.48M | 4.31% |
| 14 | FRANKLIN BSP REALTY TRUST INC | — | 129,879 | $1.39M | 4.06% |
| 15 | MFA FINANCIAL INC | — | 142,453 | $1.35M | 3.94% |
| 16 | KKR REAL ESTATE FINANCE TRUST INC | — | 149,002 | $1.31M | 3.82% |
| 17 | CLAROS MORTGAGE TRUST INC | — | 416,693 | $1.19M | 3.47% |
| 18 | AGNC INVESTMENT CORP | — | 115,383 | $1.06M | 3.10% |
| 19 | ARMOUR RESIDENTIAL REIT INC | — | 63,044 | $1.06M | 3.10% |
| 20 | INVESCO MORTGAGE CAPITAL INC | — | 133,580 | $1.05M | 3.06% |
| 21 | DYNEX CAPITAL | — | 84,392 | $1.03M | 3.01% |
| 22 | PENNYMAC MORTGAGE INV TRUST | — | 79,350 | $1.02M | 2.98% |
| 23 | ANNALY CAPITAL MGMT INC REIT | — | 54,088 | $1.02M | 2.97% |
| 24 | ORCHID ISLAND CAPITAL INC | — | 142,193 | $996.77K | 2.91% |
| 25 | TWO HBRS INVT CORP | — | 85,068 | $916.18K | 2.68% |
| 26 | SANCHEZ ENERGY CORP 144A LIFE SR SEC 1ST LIEN 7.25% 02-15-33 | SNEC | 1,902,000 | $0 | 0.00% |
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