SMH Capital Advisors Inc.
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 13, 2024), SMH Capital Advisors Inc. reported 43 stock positions worth $15.5 million. Its top holding was Compass Diversified (CODI) at 11.6% of the portfolio, followed by Apollo Global Management (APO, 8.6%) and Main Street Capital (MAIN, 5.4%). Compared with Q4 2023, it opened 9 new positions, sold out of 6, added to 19 and reduced 8. The biggest buy was a new position in Pennantpark Investment (PNNT) and the biggest sale an exit from iShares 1-5Y Inv Grade (IGSB).
- Most Recent 13F
- Q2 2026
- Location
- FORT WORTH, TX
- CIK
- 0001180391
- Portfolio Value
- $15.5M (Q1 2024)
- SEC Filing
- 0001085146-24-002420 ↗ filed May 13, 2024
Holdings Value
Holdings 43 stocks · $15.5M
| CODI Compass Diversified Holdings | 11.62% | 74,986 | $1.8M | Reduce -1.4% |
| APO Apollo Global Management Inc. | 8.57% | 11,837 | $1.3M | Reduce -1.9% |
| MAIN Main Street Capital Corp. | 5.44% | 17,852 | $845K | Reduce -1.4% |
| PNNT Pennantpark Investment Corp. | 4.58% | 103,393 | $711K | New |
| PSEC Prospect Capital Corp. | 3.60% | 101,322 | $559K | Add +0.0% |
| VZ Verizon Communications Inc. | 3.36% | 12,443 | $522K | Reduce -1.0% |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 3.18% | 16,561 | $493K | Add +7.7% |
| O Realty Income Corp. | 3.03% | 8,695 | $470K | New |
| T AT&T Inc. | 3.03% | 26,714 | $470K | Add +1.9% |
| CSWC Capital Southwest Corp. | 2.79% | 17,348 | $433K | Add +2.4% |
| MMM 3M Co. | 2.79% | 4,081 | $433K | New |
| NXDT Nexpoint Diversified Real Es | 2.56% | 60,316 | $398K | Add +5.3% |
| EFA iShares MSCI Eafe ETF | 2.16% | 4,204 | $336K | New |
| AFCG Advanced Flower Capital Inc. filed as AFC GAMMA INC | 2.07% | 26,000 | $322K | No change |
| VWO Vanguard Ftse Emerging Marke | 2.07% | 7,678 | $321K | New |
| KHC The Kraft Heinz Co. | 2.04% | 8,588 | $317K | Add +4.2% |
| GROW U.S. Global Investors Inc. Class A | 2.01% | 112,002 | $311K | Reduce -0.3% |
| HYT BlackRock Corp. Hi YLD | 2.00% | 31,747 | $311K | Add +10.1% |
| ADX Adams Diversified Equity | 2.00% | 15,893 | $310K | Add +11.6% |
| XNIEX Virtus Equity & Convertible | 1.97% | 13,646 | $306K | Add +1.8% |
| XAWFX Alliancebernstein GL Hi Inc. | 1.97% | 28,751 | $305K | Add +10.9% |
| JEF Jefferies Financial Group Inc. | 1.95% | 6,856 | $302K | Reduce -1.6% |
| CSQ Calamos Strat TTL RTRN FND | 1.94% | 18,428 | $302K | Add +11.7% |
| BTZ BlackRock Credit Allocation | 1.82% | 26,386 | $282K | Add +12.0% |
| VCTR Victory Capital Holding - A | 1.70% | 6,207 | $263K | Reduce -2.2% |
| XGDVX Gabelli Dividend & Income TR | 1.63% | 10,995 | $253K | Add +13.6% |
| XEVTX Eaton Vance Tax-Adv DVD Inc. | 1.61% | 10,605 | $250K | Add +13.4% |
| IIPR Innovative Industrial Proper | 1.59% | 2,390 | $247K | No change |
| BIT BlackRock Multi-Sector Inc. | 1.50% | 14,652 | $233K | Add +15.5% |
| MRK Merck & Co. Inc. | 1.47% | 1,725 | $228K | New |
| RQI Cohen & Steers Qual Inc. RLTY | 1.35% | 17,413 | $210K | Add +14.8% |
| HTD John Hancock Tax Adv DVD Inc. filed as HANCOCK JOHN TAX-ADVANTAGED | 1.33% | 10,522 | $207K | New |
| WT Wisdomtree Inc. | 1.18% | 19,878 | $183K | Add +8.2% |
| SLRC SLR Investment Corp. | 1.05% | 10,601 | $163K | New |
| XMUIX BlackRock Municipal Income | 0.91% | 11,669 | $141K | No change |
| EIM Eaton Vance Municipal Bond | 0.89% | 13,305 | $138K | No change |
| NAD Nuveen Quality Municipal Inc. | 0.87% | 11,844 | $136K | No change |
| AFB Allianceberstein NTL Muni | 0.87% | 12,313 | $135K | No change |
| TEI Templeton Emrg MKTS Inc. | 0.87% | 24,803 | $135K | Add +11.3% |
| XNEAX Nuveen Amt-FR QLTY Muni Inc. | 0.85% | 11,919 | $132K | No change |
| ONL Orion Properties Inc. filed as ORION OFFICE REIT INC | 0.76% | 33,682 | $118K | Reduce -0.2% |
| FATAQ Fat Brands Inc. Class A | 0.55% | 11,159 | $85K | New |
| MPT Medical Properties Trust Inc. | 0.49% | 16,151 | $76K | Add +33.9% |
Other holdings (5): bonds, preferreds, convertibles and warrants · $21.6M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| WISDOMTREE INVESTMENTS (WT 3.25 06/15/26) | NOTE 3.250% 6/1 · principal | 9,400,000 | $9.8M | Reduce -0.1% |
| FUBOTV INC (FUBO 3.25 02/15/26) | NOTE 3.250% 2/1 · principal | 12,712,000 | $7.9M | Add +0.4% |
| EZCORP INC (EZPW 2.375 05/01/25) | NOTE 2.375% 5/0 · principal | 1,992,000 | $2.0M | Reduce -1.5% |
| UPSTART HOLDINGS INC (UPST 0.25 08/15/26) | NOTE 0.250% 8/1 · principal | 2,407,000 | $1.9M | Add +1751.5% |
| STANDARD BIOTOOLS INC (LAB 2.75 02/01/34) | NOTE 2.750% 2/0 · principal | 19,000 | $19K | No change |
Total filed on the 13F, all lines: $37.1M.
Portfolio Sells Q4 2023 → Q1 2024
| IGSB iShares 1-5Y Inv Grade Corp. | Sold out | 0.00% | −3.80 |
| TIP iShares Tips Bond ETF | Sold out | 0.00% | −3.65 |
| IBM Intl Business Machines Corp. | Sold out | 0.00% | −3.58 |
| PWP Perella Weinberg Partners | Sold out | 0.00% | −2.06 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Sold out | 0.00% | −1.87 |
| PBI Pitney Bowes Inc. | Sold out | 0.00% | −1.49 |
| ONL Orion Properties Inc. | Reduce -0.2% | 0.76% | −0.62 |
| CODI Compass Diversified Holdings | Reduce -1.4% | 11.62% | −0.60 |
| GROW U.S. Global Investors Inc. Class A | Reduce -0.3% | 2.01% | −0.26 |
| MAIN Main Street Capital Corp. | Reduce -1.4% | 5.44% | −0.16 |
| JEF Jefferies Financial Group Inc. | Reduce -1.6% | 1.95% | −0.07 |
| VZ Verizon Communications Inc. | Reduce -1.0% | 3.36% | −0.03 |
| VCTR Victory Capital Holding - A | Reduce -2.2% | 1.70% | +0.13 |
| APO Apollo Global Management Inc. | Reduce -1.9% | 8.57% | +0.53 |
Portfolio Buys Q4 2023 → Q1 2024
| PNNT Pennantpark Investment Corp. | New | 4.58% | +4.58 |
| O Realty Income Corp. | New | 3.03% | +3.03 |
| MMM 3M Co. | New | 2.79% | +2.79 |
| EFA iShares MSCI Eafe ETF | New | 2.16% | +2.16 |
| VWO Vanguard Ftse Emerging Marke | New | 2.07% | +2.07 |
| MRK Merck & Co. Inc. | New | 1.47% | +1.47 |
| HTD John Hancock Tax Adv DVD Inc. | New | 1.33% | +1.33 |
| SLRC SLR Investment Corp. | New | 1.05% | +1.05 |
| FATAQ Fat Brands Inc. Class A | New | 0.55% | +0.55 |
| WT Wisdomtree Inc. | Add +8.2% | 1.18% | +0.26 |
| ADX Adams Diversified Equity | Add +11.6% | 2.00% | +0.19 |
| CSQ Calamos Strat TTL RTRN FND | Add +11.7% | 1.94% | +0.19 |
| BIT BlackRock Multi-Sector Inc. | Add +15.5% | 1.50% | +0.14 |
| XGDVX Gabelli Dividend & Income TR | Add +13.6% | 1.63% | +0.13 |
| XEVTX Eaton Vance Tax-Adv DVD Inc. | Add +13.4% | 1.61% | +0.12 |
| XAWFX Alliancebernstein GL Hi Inc. | Add +10.9% | 1.97% | +0.09 |
| BTZ BlackRock Credit Allocation | Add +12.0% | 1.82% | +0.08 |
| MPT Medical Properties Trust Inc. | Add +33.9% | 0.49% | +0.06 |
| HYT BlackRock Corp. Hi YLD | Add +10.1% | 2.00% | +0.05 |
| TEI Templeton Emrg MKTS Inc. | Add +11.3% | 0.87% | +0.05 |
| RQI Cohen & Steers Qual Inc. RLTY | Add +14.8% | 1.35% | +0.03 |
| XNIEX Virtus Equity & Convertible | Add +1.8% | 1.97% | −0.04 |
| CSWC Capital Southwest Corp. | Add +2.4% | 2.79% | −0.09 |
| T AT&T Inc. | Add +1.9% | 3.03% | −0.12 |
| KHC The Kraft Heinz Co. | Add +4.2% | 2.04% | −0.14 |
| VICI Vici Properties Inc. | Add +7.7% | 3.18% | −0.33 |
| NXDT Nexpoint Diversified Real Es | Add +5.3% | 2.56% | −0.70 |
| PSEC Prospect Capital Corp. | Add +0.0% | 3.60% | −0.74 |
Notes & Other Activity Q4 2023 → Q1 2024
| NIO INC (NIO 0.5 02/01/27) | NOTE 0.500% 2/0 · principal | Sold out | 12,866,000 | $11.8Mbefore exit |
| WISDOMTREE INVESTMENTS (WT 3.25 06/15/26) | NOTE 3.250% 6/1 · principal | Reduce -0.1% | 9,400,000 | $9.8M |
| FUBOTV INC (FUBO 3.25 02/15/26) | NOTE 3.250% 2/1 · principal | Add +0.4% | 12,712,000 | $7.9M |
| EZCORP INC (EZPW 2.375 05/01/25) | NOTE 2.375% 5/0 · principal | Reduce -1.5% | 1,992,000 | $2.0M |
| UPSTART HOLDINGS INC (UPST 0.25 08/15/26) | NOTE 0.250% 8/1 · principal | Add +1751.5% | 2,407,000 | $1.9M |
| HELLO GROUP INC (MOMO 1.25 07/01/25) | NOTE 1.250% 7/0 · principal | Sold out | 10,000 | $10Kbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026Amended | 54 | $25.5M | TRIN, CSWC, VICI, ALPHATEC HOLDINGS INC (ATEC 0.75 03/15/30), MAIN |
| Q1 2026Amended | 56 | $35.4M | CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29), TRIN, CSWC, VICI, RIOT PLATFORMS INC (RIOT 0.75 01/15/30) |
| Q4 2025 | 55 | $49.1M | CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29), WISDOMTREE INVESTMENTS (WT 3.25 06/15/26), TRIN, SPHY, CSWC |
| Q3 2025 | 51 | $49.0M | CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29), WISDOMTREE INVESTMENTS (WT 3.25 06/15/26), SPHY, TRIN, CSWC |
| Q2 2025 | 46 | $44.1M | CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29), WISDOMTREE INVESTMENTS (WT 3.25 06/15/26), TRIN, WISDOMTREE INC (WT 5.75 08/15/28), SPHY |
| Q1 2025 | 45 | $43.0M | CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29), WISDOMTREE INVESTMENTS (WT 3.25 06/15/26), TRIN, EZCORP INC (EZPW 2.375 05/01/25), WISDOMTREE INC (WT 5.75 08/15/28) |
| Q4 2024 | 45 | $41.4M | WISDOMTREE INVESTMENTS (WT 3.25 06/15/26), CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29), TRIN, EZCORP INC (EZPW 2.375 05/01/25), WISDOMTREE INC (WT 5.75 08/15/28) |
| Q3 2024 | 43 | $16.2M | APO, MAIN, VICI, PSEC, CG |
| Q2 2024 | 49 | $32.7M | WISDOMTREE INVESTMENTS (WT 3.25 06/15/26), UPSTART HOLDINGS INC (UPST 0.25 08/15/26), EZCORP INC (EZPW 2.375 05/01/25), WISDOMTREE INC (WT 5.75 08/15/28), CODI |
| Q1 2024 | 43 | $15.5M | CODI, APO, MAIN, PNNT, PSEC |