SMH Capital Advisors Inc.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 12, 2025), SMH Capital Advisors Inc. reported 45 stock positions worth $41.4 million. Its top holding was Wisdomtree Investments (wt 3.25 06/15/26) at 24.9% of the portfolio, followed by Capital Southwest Corp. (cswc 5.125 11/15/29) (19.0%) and Trinity Capital (TRIN, 4.6%). Compared with Q3 2024, it opened 7 new positions, sold out of 5, added to 10 and reduced 21. The biggest buy was a new position in Wisdomtree Investments (wt 3.25 06/15/26) and the biggest sale an exit from Apollo Global Management (APO).
- Most Recent 13F
- Q2 2026
- Location
- FORT WORTH, TX
- CIK
- 0001180391
- Portfolio Value
- $41.4M (Q4 2024)
- SEC Filing
- 0001085146-25-001085 ↗ filed Feb 12, 2025
Holdings Value
Holdings 45 stocks · $41.4M
| WISDOMTREE INVESTMENTS (WT 3.25 06/15/26) | 24.91% | 9,359,000 | $10.3M | New |
| CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) | 19.04% | 8,224,000 | $7.9M | New |
| TRIN Trinity Capital Inc. | 4.60% | 131,882 | $1.9M | Add +180.1% |
| EZCORP INC (EZPW 2.375 05/01/25) | 4.54% | 1,902,000 | $1.9M | New |
| WISDOMTREE INC (WT 5.75 08/15/28) | 4.49% | 1,450,000 | $1.9M | New |
| CODI Compass Diversified Holdings | 4.40% | 78,970 | $1.8M | New |
| SPHY SS SPDR P High Yield ETF | 3.40% | 60,000 | $1.4M | New |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 2.96% | 42,069 | $1.2M | Add +54.2% |
| MAIN Main Street Capital Corp. | 2.67% | 18,894 | $1.1M | Reduce -0.8% |
| CSWC Capital Southwest Corp. | 2.48% | 47,043 | $1.0M | Add +195.0% |
| CIVI Civitas Resources Inc. | 2.24% | 20,238 | $928K | Add +394.4% |
| CG The Carlyle Group Inc. | 1.84% | 15,104 | $763K | Reduce -5.3% |
| T AT&T Inc. | 1.51% | 27,430 | $625K | Reduce -4.6% |
| PSEC Prospect Capital Corp. | 1.50% | 144,652 | $623K | Reduce -0.7% |
| ENB Enbridge Inc. | 1.50% | 14,626 | $621K | Reduce -0.0% |
| PNNT Pennantpark Investment Corp. | 1.17% | 68,210 | $483K | No change |
| VZ Verizon Communications Inc. | 1.10% | 11,415 | $456K | Reduce -1.1% |
| O Realty Income Corp. | 1.01% | 7,860 | $420K | Reduce -0.5% |
| HASI Ha Sustainable Infrastructur | 0.90% | 13,869 | $372K | Reduce -1.2% |
| RITM Rithm Capital Corp. | 0.88% | 33,565 | $364K | Reduce -1.4% |
| NXDT Nexpoint Diversified Real Es | 0.87% | 59,108 | $361K | Add +0.8% |
| VWO Vanguard Ftse Emerging Marke | 0.82% | 7,730 | $340K | Add +0.5% |
| VCTR Victory Capital Holding - A | 0.79% | 5,010 | $328K | Reduce -8.8% |
| EFA iShares MSCI Eafe ETF | 0.77% | 4,233 | $320K | Add +0.3% |
| CSQ Calamos Strat TTL RTRN FND | 0.67% | 15,571 | $276K | Reduce -2.6% |
| ADX Adams Diversified Equity | 0.66% | 13,536 | $273K | Reduce -1.4% |
| XNIEX Virtus Equity & Convertible | 0.66% | 11,024 | $272K | Reduce -2.7% |
| HYT BlackRock Corp. Hi YLD | 0.64% | 26,888 | $264K | Reduce -0.8% |
| XAWFX Alliancebernstein GL Hi Inc. | 0.64% | 24,534 | $263K | Reduce -0.8% |
| GROW U.S. Global Investors Inc. Class A | 0.62% | 104,813 | $256K | Add +0.0% |
| BTZ BlackRock Credit Allocation | 0.57% | 22,555 | $236K | Add +0.4% |
| XGDVX Gabelli Dividend & Income TR | 0.56% | 9,593 | $232K | Reduce -0.8% |
| XEVTX Eaton Vance Tax-Adv DVD Inc. | 0.54% | 9,283 | $223K | Reduce -0.7% |
| AFCG Advanced Flower Capital Inc. | 0.52% | 26,000 | $217K | No change |
| HTD John Hancock Tax Adv DVD Inc. filed as HANCOCK JOHN TAX-ADVANTAGED | 0.49% | 9,186 | $202K | Reduce -0.3% |
| BIT BlackRock Multi-Sector Inc. | 0.46% | 12,930 | $189K | Add +0.4% |
| WT Wisdomtree Inc. | 0.44% | 17,275 | $181K | Reduce -0.7% |
| XMUIX BlackRock Municipal Income | 0.34% | 11,669 | $141K | No change |
| NAD Nuveen Quality Municipal Inc. | 0.33% | 11,844 | $138K | No change |
| EIM Eaton Vance Municipal Bond | 0.33% | 13,305 | $138K | No change |
| XNEAX Nuveen Amt-FR QLTY Muni Inc. | 0.32% | 11,919 | $134K | No change |
| AFB Allianceberstein NTL Muni | 0.32% | 12,313 | $134K | No change |
| TEI Templeton Emrg MKTS Inc. | 0.27% | 21,465 | $110K | Reduce -0.6% |
| ONL Orion Properties Inc. filed as ORION OFFICE REIT INC | 0.23% | 25,948 | $96K | Reduce -13.4% |
| HELLO GROUP INC (MOMO 1.25 07/01/25) | 0.02% | 10,000 | $10K | New |
Portfolio Sells Q3 2024 → Q4 2024
| APO Apollo Global Management Inc. | Sold out | 0.00% | −8.35 |
| PSEC Prospect Capital Corp. | Reduce -0.7% | 1.50% | −3.31 |
| MAIN Main Street Capital Corp. | Reduce -0.8% | 2.67% | −3.23 |
| CG The Carlyle Group Inc. | Reduce -5.3% | 1.84% | −2.41 |
| T AT&T Inc. | Reduce -4.6% | 1.51% | −2.40 |
| ENB Enbridge Inc. | Reduce -0.0% | 1.50% | −2.18 |
| VZ Verizon Communications Inc. | Reduce -1.1% | 1.10% | −2.10 |
| HASI Ha Sustainable Infrastructur | Reduce -1.2% | 0.90% | −2.10 |
| O Realty Income Corp. | Reduce -0.5% | 1.01% | −2.09 |
| IIPR Innovative Industrial Proper | Sold out | 0.00% | −1.99 |
| KHC The Kraft Heinz Co. | Sold out | 0.00% | −1.75 |
| RITM Rithm Capital Corp. | Reduce -1.4% | 0.88% | −1.51 |
| AAPL Apple Inc. | Sold out | 0.00% | −1.45 |
| RQI Cohen & Steers Qual Inc. RLTY | Sold out | 0.00% | −1.36 |
| ADX Adams Diversified Equity | Reduce -1.4% | 0.66% | −1.17 |
| XAWFX Alliancebernstein GL Hi Inc. | Reduce -0.8% | 0.64% | −1.10 |
| VCTR Victory Capital Holding - A | Reduce -8.8% | 0.79% | −1.09 |
| HYT BlackRock Corp. Hi YLD | Reduce -0.8% | 0.64% | −1.05 |
| CSQ Calamos Strat TTL RTRN FND | Reduce -2.6% | 0.67% | −1.05 |
| XNIEX Virtus Equity & Convertible | Reduce -2.7% | 0.66% | −0.96 |
| XGDVX Gabelli Dividend & Income TR | Reduce -0.8% | 0.56% | −0.90 |
| XEVTX Eaton Vance Tax-Adv DVD Inc. | Reduce -0.7% | 0.54% | −0.89 |
| HTD John Hancock Tax Adv DVD Inc. | Reduce -0.3% | 0.49% | −0.83 |
| WT Wisdomtree Inc. | Reduce -0.7% | 0.44% | −0.64 |
| TEI Templeton Emrg MKTS Inc. | Reduce -0.6% | 0.27% | −0.51 |
| ONL Orion Properties Inc. | Reduce -13.4% | 0.23% | −0.51 |
Portfolio Buys Q3 2024 → Q4 2024
| WISDOMTREE INVESTMENTS (WT 3.25 06/15/26) | New | 24.91% | +24.91 |
| CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) | New | 19.04% | +19.04 |
| EZCORP INC (EZPW 2.375 05/01/25) | New | 4.54% | +4.54 |
| WISDOMTREE INC (WT 5.75 08/15/28) | New | 4.49% | +4.49 |
| CODI Compass Diversified Holdings | New | 4.40% | +4.40 |
| SPHY SS SPDR P High Yield ETF | New | 3.40% | +3.40 |
| CIVI Civitas Resources Inc. | Add +394.4% | 2.24% | +0.96 |
| TRIN Trinity Capital Inc. | Add +180.1% | 4.60% | +0.65 |
| HELLO GROUP INC (MOMO 1.25 07/01/25) | New | 0.02% | +0.02 |
| CSWC Capital Southwest Corp. | Add +195.0% | 2.48% | −0.02 |
| BIT BlackRock Multi-Sector Inc. | Add +0.4% | 0.46% | −0.76 |
| BTZ BlackRock Credit Allocation | Add +0.4% | 0.57% | −1.00 |
| GROW U.S. Global Investors Inc. Class A | Add +0.0% | 0.62% | −1.05 |
| NXDT Nexpoint Diversified Real Es | Add +0.8% | 0.87% | −1.40 |
| EFA iShares MSCI Eafe ETF | Add +0.3% | 0.77% | −1.41 |
| VWO Vanguard Ftse Emerging Marke | Add +0.5% | 0.82% | −1.45 |
| VICI Vici Properties Inc. | Add +54.2% | 2.96% | −2.65 |
Notes & Other Activity Q3 2024 → Q4 2024
| WISDOMTREE INVESTMENTS (WT 3.25 06/15/26) | NOTE 3.250% 6/1 · principal | Sold out | 9,364,000 | $10.1Mbefore exit |
| UPSTART HOLDINGS INC (UPST 0.25 08/15/26) | NOTE 0.250% 8/1 · principal | Sold out | 2,755,000 | $2.4Mbefore exit |
| EZCORP INC (EZPW 2.375 05/01/25) | NOTE 2.375% 5/0 · principal | Sold out | 1,907,000 | $1.9Mbefore exit |
| WISDOMTREE INC (WT 5.75 08/15/28) | NOTE 5.750% 8/1 · principal | Sold out | 1,457,000 | $1.8Mbefore 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 |