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Asset Manager ← All Institutions

SMH CAPITAL ADVISORS INC

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

Q4 2025 · Filed 2026-02-12
Market Value
$16.9B
-11.1%
Holdings
44
-4
New Purchases
1
Added To
18
Closed
0
Reduced
16
Top 10 Concentration
72.8%
Turnover
2.3%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
TRIN 14.80% 11.03% +3.77% $2.5B
CSWC 10.27% 8.18% +2.10% $1.7B
IIPR 1.37% 0.00% +1.37% $232M
VICI 8.17% 6.96% +1.21% $1.4B
HTGC 4.57% 3.82% +0.75% $773M
PSEC 6.53% 6.14% +0.40% $1.1B
OWL 5.99% 5.63% +0.36% $1.0B
NXDT 1.32% 1.01% +0.31% $224M
RITM-PD 2.32% 2.07% +0.24% $392M
CIVI 4.12% 3.90% +0.22% $697M
GDV 1.49% 1.29% +0.20% $251M
CGBD 1.64% 1.46% +0.18% $277M
ADX 1.79% 1.61% +0.18% $303M
EVT 1.34% 1.17% +0.18% $227M
WT 1.29% 1.12% +0.17% $218M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
SPHY 14.10% 25.03% -10.93% $2.4B
GROW 0.59% 1.20% -0.61% $99M
HPK 1.92% 2.41% -0.49% $324M
HASI 1.61% 2.01% -0.40% $273M
SLQT 0.98% 1.29% -0.31% $166M
AFCG 0.44% 0.44% -0.01% $74M
DKS 0.00% 0.00% -0.00% $403K

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 2 $773K 0.0%
Large Cap 12 $5.2B 30.6%
Mid Cap 10 $3.1B 18.3%
Small Cap 15 $7.9B 47.0%
Micro Cap 5 $698M 4.1%

Portfolio Analytics

Avg Market Cap
$41.8B
Median Market Cap
$2.6B
Avg P/E
23.9
Median P/E
12.5
Avg Dividend Yield
0.08%
Avg Beta
0.94
# Stocks
26
# ETFs / Funds
18

Top Holdings (44 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 TRIN 14.80% 170,785 $2.5B $14,650.04 $405M +31,824 +22.9%
2 SPHY 14.10% 100,675 $2.4B $23,670.00 -$2.4B -99,325 -49.7%
3 CSWC 10.27% 78,404 $1.7B $22,149.86 $182M +1,895 +2.5%
4 VICI 8.17% 49,111 $1.4B $28,119.93 $58M +5,000 +11.3%
5 PSEC 6.53% 426,473 $1.1B $2,590.00 -$63M -12,374 -2.8%
6 OWL 5.99% 67,769 $1.0B $14,940.00 -$58M -133 -0.2%
7 HTGC 4.57% 41,065 $773M $18,819.99 $46M +500 +1.2%
8 CIVI 4.12% 25,732 $697M $27,089.77 -$45M +1
9 RITM-PD 2.32% 35,944 $392M $10,900.12 -$3M
10 HPK 1.92% 68,354 $324M $4,740.00 -$134M -476 -0.7%
11 ADX 1.79% 12,989 $303M $23,320.81 -$4M -199 -1.5%
12 CSQ 1.68% 14,777 $284M $19,199.43 -$7M -304 -2.0%
13 CGBD 1.64% 22,138 $277M $12,490.02 -$628K +213 +1.0%
14 HASI 1.61% 8,679 $273M $31,431.50 -$110M -5,144 -37.2%
15 AWF 1.53% 24,145 $258M $10,690.16 -$7M +56 +0.2%
16 GDV 1.49% 9,055 $251M $27,768.53 $6M -8 -0.1%
17 BTZ 1.40% 21,869 $237M $10,829.76 -$10M -254 -1.1%
18 HYT 1.40% 26,563 $236M $8,899.86 -$16M +3 +0.0%
19 IIPR 1.37% 4,890 $232M $47,359.92 $231M
20 EVT 1.34% 9,019 $227M $25,179.51 $5M +20 +0.2%
21 NXDT 1.32% 58,419 $224M $3,829.99 $32M -1,930 -3.2%
22 WT 1.29% 17,891 $218M $12,189.76 $4M +6 +0.0%
23 HTD 1.22% 8,745 $207M $23,661.29 -$12M -59 -0.7%
24 RQI 1.01% 14,896 $170M $11,419.71 -$10M +25 +0.2%
25 SLQT 0.98% 117,917 $166M $1,410.00 -$80M -327 -0.3%
26 BIT 0.98% 12,685 $166M $13,059.76 -$2M +43 +0.3%
27 NAD 0.86% 12,115 $146M $12,019.81 $364K
28 NEA 0.84% 12,201 $142M $11,630.28 -$244K
29 AFB 0.81% 12,609 $136M $10,819.89 -$2M
30 TEI 0.80% 20,909 $135M $6,449.90 $82K +45 +0.2%
31 EIM 0.78% 13,620 $133M $9,729.81 -$3M
32 GROW 0.59% 41,052 $99M $2,409.97 -$129M -50,405 -55.1%
33 AFCG 0.44% 26,000 $74M $2,850.00 -$10M
34 MAIN 0.01% 18,884 $1M $60.39 $77K +206 +1.1%
35 CG 0.01% 18,886 $1M $59.11 $103K -119 -0.6%
36 SPY —% 819 $559K $682.32 -$4K -5 -0.6%
37 O —% 7,699 $434K $56.37 -$12K +1 +0.0%
38 VWO —% 7,686 $413K $53.76 -$7K +34 +0.4%
39 EFA —% 4,267 $410K $96.02 $8K +17 +0.4%
40 DKS —% 2,034 $403K $197.97 -$200K -689 -25.3%
41 APO —% 1,876 $272K $144.73 $38K +1 +0.1%
42 TPG —% 3,400 $217K $63.84 +3,400 NEW
43 QQQ —% 348 $214K $615.17 -$5K
44 AMT —% 1,200 $211K $175.57 -$4K

New Positions

SymbolValue% Port
TPG $217K —%
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