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SMH CAPITAL ADVISORS INC

4200 S. HULEN STE 534, FORT WORTH, TX 76109 • 7132243100

Q3 2025 · Filed 2025-11-13
Market Value
$19.0B
+34.9%
Holdings
48
+5
New Purchases
7
Added To
24
Closed
5
Reduced
4
Top 10 Concentration
75.2%
Turnover
25.0%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
SPHY 25.03% 10.47% +14.56% $4.8B
HTGC 3.82% 0.00% +3.82% $727M
PSEC 6.14% 3.28% +2.86% $1.2B
HPK 2.41% 0.00% +2.41% $458M
SLQT 1.29% 0.00% +1.29% $246M
CSWC 8.18% 7.07% +1.11% $1.6B
OWL 5.63% 4.73% +0.90% $1.1B
IIPR 0.00% 0.00% +0.00% $245K
APO 0.00% 0.00% +0.00% $233K
QQQ 0.00% 0.00% +0.00% $219K
AMT 0.00% 0.00% +0.00% $215K

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
PNNT 0.00% 3.31% -3.31% $0
VZ 0.00% 3.29% -3.29% $0
CODI 0.00% 3.26% -3.26% $0
VWO 0.00% 2.71% -2.71% $421K
VICI 6.96% 9.50% -2.54% $1.3B
TRIN 11.03% 13.52% -2.49% $2.1B
NXDT 1.01% 1.75% -0.74% $192M
CGBD 1.46% 2.13% -0.67% $277M
RITM-PD 2.07% 2.73% -0.66% $394M
GROW 1.20% 1.85% -0.65% $228M
HASI 2.01% 2.63% -0.61% $383M
HYT 1.33% 1.81% -0.48% $253M
AWF 1.39% 1.86% -0.46% $265M
BIT 0.88% 1.29% -0.41% $167M
CSQ 1.53% 1.93% -0.40% $291M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 77.5%
Real Estate 13.6%
Energy 6.6%
Consumer Cyclical 2.3%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 3 $781K 0.0%
Large Cap 11 $7.6B 39.7%
Mid Cap 11 $3.2B 16.8%
Small Cap 16 $7.4B 38.8%
Micro Cap 7 $885M 4.7%

Portfolio Analytics

Avg Market Cap
$42.3B
Median Market Cap
$2.4B
Avg P/E
22.5
Median P/E
12.5
Avg Dividend Yield
0.08%
Avg Beta
0.94
# Stocks
30
# ETFs / Funds
18

Top Holdings (48 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 SPHY 25.03% 200,000 $4.8B $23,800.00 $3.3B +138,000 +222.6%
2 TRIN 11.03% 138,961 $2.1B $15,090.05 $191M +3,476 +2.6%
3 CSWC 8.18% 76,509 $1.6B $20,320.09 $558M +31,294 +69.2%
4 VICI 6.96% 44,111 $1.3B $29,989.93 -$16M +3,041 +7.4%
5 PSEC 6.14% 438,847 $1.2B $2,660.00 $705M +293,311 +201.5%
6 OWL 5.63% 67,902 $1.1B $15,770.01 $403M +33,156 +95.4%
7 CIVI 3.90% 25,731 $742M $28,829.86 $172M +5,037 +24.3%
8 HTGC 3.82% 40,565 $727M $17,920.00 +40,565 NEW
9 HPK 2.41% 68,830 $458M $6,650.01 +68,830 NEW
10 RITM-PD 2.07% 35,944 $394M $10,970.12 $9M +1,830 +5.4%
11 HASI 2.01% 13,823 $383M $27,710.84 $13M +37 +0.3%
12 ADX 1.61% 13,188 $307M $23,279.34 $23M +119 +0.9%
13 CSQ 1.53% 15,081 $291M $19,299.78 $19M +159 +1.1%
14 CGBD 1.46% 21,925 $277M $12,640.00 -$23M
15 AWF 1.39% 24,089 $265M $11,010.13 $4M +364 +1.5%
16 HYT 1.33% 26,560 $253M $9,510.09 -$2M +434 +1.7%
17 BTZ 1.30% 22,123 $247M $11,170.00 $9M +292 +1.3%
18 SLQT 1.29% 118,244 $246M $2,080.00 +118,244 NEW
19 GDV 1.29% 9,063 $246M $27,111.44 $10M +17 +0.2%
20 GROW 1.20% 91,457 $228M $2,490.00 -$33M -8,953 -8.9%
21 EVT 1.17% 8,999 $222M $24,640.74 $8M +115 +1.3%
22 HTD 1.15% 8,804 $219M $24,899.93 $15M +76 +0.9%
23 WT 1.12% 17,885 $214M $11,960.30 $19M +992 +5.9%
24 NXDT 1.01% 60,349 $192M $3,180.00 -$54M +1,575 +2.7%
25 RQI 0.95% 14,871 $180M $12,090.04 -$4M +146 +1.0%
26 BIT 0.88% 12,642 $167M $13,239.60 -$14M +226 +1.8%
27 NAD 0.76% 12,115 $145M $11,989.76 $8M
28 NEA 0.75% 12,201 $142M $11,650.27 $9M
29 AFB 0.73% 12,609 $139M $10,989.85 $9M
30 EIM 0.71% 13,620 $136M $9,959.77 $4M
31 TEI 0.71% 20,864 $135M $6,459.88 $12M +366 +1.8%
32 AFCG 0.44% 26,000 $84M $3,250.00 -$32M
33 MAIN 0.01% 18,678 $1M $56.92 -$38K +48 +0.3%
34 CG 0.01% 19,005 $1M $53.32 $34K -47 -0.2%
35 DKS —% 2,723 $603K $221.45 $64K
36 SPY —% 824 $562K $682.46 -$609K -1,072 -56.5%
37 O —% 7,698 $446K $57.98 $4K +13 +0.2%
38 VWO —% 7,652 $421K $54.97 -$382M -84 -1.1%
39 EFA —% 4,250 $402K $94.48 $22K
40 IIPR —% 4,890 $245K $50.15 +4,890 NEW
41 APO —% 1,875 $233K $124.30 +1,875 NEW
42 QQQ —% 348 $219K $629.59 +348 NEW
43 AMT —% 1,200 $215K $178.98 +1,200 NEW
44 PNNT —% -$467M -68,210 -100.0% SOLD
45 CODI —% -$460M -73,293 -100.0% SOLD
46 VZ —% -$464M -10,735 -100.0% SOLD
47 VCTR —% -$260K -4,091 -100.0% SOLD
48 ONL —% -$45M -21,281 -100.0% SOLD

New Positions

SymbolValue% Port
HTGC $727M 3.82%
HPK $458M 2.41%
SLQT $246M 1.29%
IIPR $245K —%
APO $233K —%
QQQ $219K —%
AMT $215K —%

Sold Out Positions

SymbolValue% Port
CODI —%
VZ —%
PNNT —%
ONL —%
VCTR —%
View SEC EDGAR Filings for SMH CAPITAL ADVISORS INC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms