SMH Capital Advisors Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 8, 2025), SMH Capital Advisors Inc. reported 45 stock positions worth $43.0 million. Its top holding was Capital Southwest Corp. (cswc 5.125 11/15/29) at 26.9% of the portfolio, followed by Wisdomtree Investments (wt 3.25 06/15/26) (22.2%) and Trinity Capital (TRIN, 4.8%). Compared with Q4 2024, it opened 1 new position, sold out of 1, added to 8 and reduced 27. The biggest buy was Capital Southwest Corp. (cswc 5.125 11/15/29) (shares +45%) and the biggest sale Wisdomtree Investments (wt 3.25 06/15/26) (shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- FORT WORTH, TX
- CIK
- 0001180391
- Portfolio Value
- $43.0M (Q1 2025)
- SEC Filing
- 0001085146-25-002772 ↗ filed May 8, 2025
Holdings Value
Holdings 45 stocks · $43.0M
| CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) | 26.92% | 11,940,000 | $11.6M | Add +45.2% |
| WISDOMTREE INVESTMENTS (WT 3.25 06/15/26) | 22.25% | 9,348,000 | $9.6M | Reduce -0.1% |
| TRIN Trinity Capital Inc. | 4.79% | 136,014 | $2.1M | Add +3.1% |
| EZCORP INC (EZPW 2.375 05/01/25) | 4.36% | 1,886,000 | $1.9M | Reduce -0.8% |
| WISDOMTREE INC (WT 5.75 08/15/28) | 3.90% | 1,450,000 | $1.7M | No change |
| CODI Compass Diversified Holdings | 3.32% | 76,622 | $1.4M | Reduce -3.0% |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 3.12% | 41,184 | $1.3M | Reduce -2.1% |
| MAIN Main Street Capital Corp. | 2.46% | 18,756 | $1.1M | Reduce -0.7% |
| CSWC Capital Southwest Corp. | 2.38% | 45,981 | $1.0M | Reduce -2.3% |
| CG The Carlyle Group Inc. | 1.97% | 19,426 | $847K | Add +28.6% |
| T AT&T Inc. | 1.73% | 26,358 | $745K | Reduce -3.9% |
| CIVI Civitas Resources Inc. | 1.68% | 20,705 | $722K | Add +2.3% |
| SPHY SS SPDR P High Yield ETF | 1.63% | 30,000 | $703K | Reduce -50.0% |
| ENB Enbridge Inc. | 1.50% | 14,555 | $645K | Reduce -0.5% |
| PSEC Prospect Capital Corp. | 1.39% | 146,335 | $600K | Add +1.2% |
| VZ Verizon Communications Inc. | 1.15% | 10,886 | $494K | Reduce -4.6% |
| PNNT Pennantpark Investment Corp. | 1.11% | 68,210 | $480K | No change |
| O Realty Income Corp. | 1.04% | 7,699 | $447K | Reduce -2.0% |
| HASI Ha Sustainable Infrastructur | 0.94% | 13,838 | $405K | Reduce -0.2% |
| RITM Rithm Capital Corp. | 0.91% | 34,089 | $390K | Add +1.6% |
| VWO Vanguard Ftse Emerging Marke | 0.81% | 7,731 | $350K | Add +0.0% |
| EFA iShares MSCI Eafe ETF | 0.80% | 4,233 | $346K | No change |
| VCTR Victory Capital Holding - A | 0.62% | 4,630 | $268K | Reduce -7.6% |
| XAWFX Alliancebernstein GL Hi Inc. | 0.60% | 24,071 | $258K | Reduce -1.9% |
| HYT BlackRock Corp. Hi YLD | 0.59% | 26,404 | $253K | Reduce -1.8% |
| ADX Adams Diversified Equity | 0.58% | 13,259 | $252K | Reduce -2.0% |
| CSQ Calamos Strat TTL RTRN FND | 0.57% | 15,132 | $245K | Reduce -2.8% |
| BTZ BlackRock Credit Allocation | 0.55% | 22,059 | $236K | Reduce -2.2% |
| XNIEX Virtus Equity & Convertible | 0.55% | 10,645 | $236K | Reduce -3.4% |
| GROW U.S. Global Investors Inc. Class A | 0.54% | 102,708 | $232K | Reduce -2.0% |
| XGDVX Gabelli Dividend & Income TR | 0.52% | 9,344 | $225K | Reduce -2.6% |
| NXDT Nexpoint Diversified Real Es | 0.51% | 57,620 | $221K | Reduce -2.5% |
| HTD John Hancock Tax Adv DVD Inc. filed as HANCOCK JOHN TAX-ADVANTAGED | 0.50% | 8,923 | $214K | Reduce -2.9% |
| XEVTX Eaton Vance Tax-Adv DVD Inc. | 0.49% | 9,052 | $211K | Reduce -2.5% |
| RQI Cohen & Steers Qual Inc. RLTY | 0.44% | 14,934 | $188K | New |
| BIT BlackRock Multi-Sector Inc. | 0.42% | 12,614 | $183K | Reduce -2.4% |
| WT Wisdomtree Inc. | 0.37% | 17,661 | $158K | Add +2.2% |
| AFCG Advanced Flower Capital Inc. | 0.34% | 26,000 | $145K | No change |
| NAD Nuveen Quality Municipal Inc. | 0.32% | 11,844 | $136K | No change |
| AFB Allianceberstein NTL Muni | 0.31% | 12,313 | $134K | No change |
| XNEAX Nuveen Amt-FR QLTY Muni Inc. | 0.31% | 11,919 | $133K | No change |
| EIM Eaton Vance Municipal Bond | 0.31% | 13,305 | $133K | No change |
| TEI Templeton Emrg MKTS Inc. | 0.26% | 20,962 | $113K | Reduce -2.3% |
| ONL Orion Properties Inc. | 0.11% | 21,262 | $46K | Reduce -18.1% |
| HELLO GROUP INC (MOMO 1.25 07/01/25) | 0.02% | 10,000 | $10K | No change |
Portfolio Sells Q4 2024 → Q1 2025
| WISDOMTREE INVESTMENTS (WT 3.25 06/15/26) | Reduce -0.1% | 22.25% | −2.66 |
| SPHY SS SPDR P High Yield ETF | Reduce -50.0% | 1.63% | −1.77 |
| CODI Compass Diversified Holdings | Reduce -3.0% | 3.32% | −1.07 |
| NXDT Nexpoint Diversified Real Es | Reduce -2.5% | 0.51% | −0.36 |
| XMUIX BlackRock Municipal Income | Sold out | 0.00% | −0.34 |
| MAIN Main Street Capital Corp. | Reduce -0.7% | 2.46% | −0.21 |
| EZCORP INC (EZPW 2.375 05/01/25) | Reduce -0.8% | 4.36% | −0.18 |
| VCTR Victory Capital Holding - A | Reduce -7.6% | 0.62% | −0.17 |
| ONL Orion Properties Inc. | Reduce -18.1% | 0.11% | −0.13 |
| XNIEX Virtus Equity & Convertible | Reduce -3.4% | 0.55% | −0.11 |
| CSQ Calamos Strat TTL RTRN FND | Reduce -2.8% | 0.57% | −0.10 |
| CSWC Capital Southwest Corp. | Reduce -2.3% | 2.38% | −0.09 |
| GROW U.S. Global Investors Inc. Class A | Reduce -2.0% | 0.54% | −0.08 |
| ADX Adams Diversified Equity | Reduce -2.0% | 0.58% | −0.07 |
| XEVTX Eaton Vance Tax-Adv DVD Inc. | Reduce -2.5% | 0.49% | −0.05 |
| HYT BlackRock Corp. Hi YLD | Reduce -1.8% | 0.59% | −0.05 |
| XGDVX Gabelli Dividend & Income TR | Reduce -2.6% | 0.52% | −0.04 |
| XAWFX Alliancebernstein GL Hi Inc. | Reduce -1.9% | 0.60% | −0.04 |
| BIT BlackRock Multi-Sector Inc. | Reduce -2.4% | 0.42% | −0.03 |
| BTZ BlackRock Credit Allocation | Reduce -2.2% | 0.55% | −0.02 |
| TEI Templeton Emrg MKTS Inc. | Reduce -2.3% | 0.26% | −0.00 |
| ENB Enbridge Inc. | Reduce -0.5% | 1.50% | +0.00 |
| HTD John Hancock Tax Adv DVD Inc. | Reduce -2.9% | 0.50% | +0.01 |
| O Realty Income Corp. | Reduce -2.0% | 1.04% | +0.02 |
| HASI Ha Sustainable Infrastructur | Reduce -0.2% | 0.94% | +0.04 |
| VZ Verizon Communications Inc. | Reduce -4.6% | 1.15% | +0.05 |
| VICI Vici Properties Inc. | Reduce -2.1% | 3.12% | +0.16 |
| T AT&T Inc. | Reduce -3.9% | 1.73% | +0.22 |
Portfolio Buys Q4 2024 → Q1 2025
| CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) | Add +45.2% | 26.92% | +7.88 |
| RQI Cohen & Steers Qual Inc. RLTY | New | 0.44% | +0.44 |
| TRIN Trinity Capital Inc. | Add +3.1% | 4.79% | +0.19 |
| CG The Carlyle Group Inc. | Add +28.6% | 1.97% | +0.13 |
| RITM Rithm Capital Corp. | Add +1.6% | 0.91% | +0.03 |
| VWO Vanguard Ftse Emerging Marke | Add +0.0% | 0.81% | −0.01 |
| WT Wisdomtree Inc. | Add +2.2% | 0.37% | −0.07 |
| PSEC Prospect Capital Corp. | Add +1.2% | 1.39% | −0.11 |
| CIVI Civitas Resources Inc. | Add +2.3% | 1.68% | −0.56 |
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 |