Smith Asset Management Co., LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 3, 2025), Smith Asset Management Co., LLC reported 66 stock positions worth $117.4 million. Its top holding was Nuveen Prefered & Income Opp (JPC) at 6.6% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 6.0%) and Ares Capital (ARCC, 5.2%). Compared with Q2 2025, it opened 1 new position, sold out of 4, added to 31 and reduced 28. The biggest buy was Nuveen Prefered & Income Opp (JPC, shares +167%) and the biggest sale an exit from Nuveen Preferred Securities (XJPIX).
- Most Recent 13F
- Q2 2026
- Location
- Chiefland, FL
- CIK
- 0002068217
- Portfolio Value
- $117.4M (Q3 2025)
- SEC Filing
- 0001172661-25-004559 ↗ filed Nov 3, 2025
Holdings Value
Holdings 66 stocks · $117.4M
| JPC Nuveen Prefered & Income Opp | 6.59% | 944,134 | $7.7M | Add +167.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 6.01% | 13,976 | $7.1M | Add +8.1% |
| ARCC Ares Capital Corp. | 5.15% | 296,523 | $6.1M | Add +0.8% |
| XAWFX Alliancebernstein GL Hi Inc. | 3.92% | 410,637 | $4.6M | Reduce -1.2% |
| CSQ Calamos Strat TTL RTRN FND | 3.75% | 227,982 | $4.4M | Reduce -0.5% |
| DNP DNP Select Income Fund Inc. | 3.59% | 421,102 | $4.2M | Reduce -0.3% |
| RFI Cohen & Steers Tot Ret RLTY | 3.47% | 336,211 | $4.1M | Reduce -1.7% |
| SPY SS SPDR S&P 500 ETF Trust-US | 3.30% | 5,811 | $3.9M | Add +1.9% |
| MCI Barings Corporate Investors | 3.25% | 183,634 | $3.8M | Reduce -2.1% |
| FFA First Trust Enhan Eqty Inc. | 2.91% | 158,566 | $3.4M | Reduce -2.2% |
| BTZ BlackRock Credit Allocation | 2.70% | 286,818 | $3.2M | Reduce -2.6% |
| UTG Reaves Utility Income Fund | 2.67% | 79,260 | $3.1M | Reduce -0.8% |
| VGT Vanguard Info Tech ETF | 2.63% | 4,140 | $3.1M | Add +9.2% |
| XBGYX BlackRock Enh Intl DVD TR | 2.54% | 518,992 | $3.0M | Reduce -4.7% |
| PSF Cohen & Steers Select Prefer | 2.38% | 134,523 | $2.8M | Reduce -1.0% |
| PDI PIMCO Dynamic Income Fund | 2.33% | 138,217 | $2.7M | Add +8.7% |
| PCN PIMCO Corporate & Income STR | 2.19% | 192,064 | $2.6M | Add +5.1% |
| AAPL Apple Inc. | 2.17% | 9,931 | $2.5M | Add +4.4% |
| UTF Cohen & Steers Infrastructur | 2.08% | 98,699 | $2.4M | Reduce -2.2% |
| NLY Annaly Capital Management Inc. | 2.05% | 118,930 | $2.4M | Add +1.1% |
| FLC Flaherty & Crumrine TTL RTRN | 1.98% | 130,618 | $2.3M | Reduce -1.7% |
| PTY PIMCO Corporate & Income Opp | 1.97% | 160,326 | $2.3M | Reduce -13.3% |
| DFP Flaherty & Crumrine DYN Pref | 1.86% | 101,043 | $2.2M | Add +0.9% |
| HQH Abrdn Healthcare Investors | 1.85% | 117,345 | $2.2M | Reduce -1.8% |
| DSU BlackRock Debt Strategies | 1.66% | 183,186 | $1.9M | Add +1.6% |
| VIS Vanguard Industrials ETF | 1.41% | 5,581 | $1.7M | Add +12.0% |
| EQH Equitable Holdings Inc. | 1.33% | 71,949 | $1.6M | Add +6.7% |
| GOF Guggenheim Strategic Opport | 1.30% | 101,871 | $1.5M | Add +44.1% |
| GDO Western Ast GLB Corp. Opprnty | 1.28% | 126,475 | $1.5M | Reduce -1.5% |
| MPV Barings Participation Invest | 1.26% | 73,598 | $1.5M | Reduce -1.5% |
| ASGI Abrdn Global Infrastructure | 1.12% | 62,073 | $1.3M | Reduce -10.6% |
| BUI Blckrck Util Infra & PWR Opp filed as BLACKROCK UTILS INFRASTRUCTU | 1.09% | 48,811 | $1.3M | Reduce -4.1% |
| XSORX Source Capital Inc. | 1.08% | 28,112 | $1.3M | Add +0.2% |
| XFFCX Flaherty & Crumrine Pref Inc. | 1.05% | 72,977 | $1.2M | Add +2.3% |
| PFD Flaherty & Crumrin Pre&inc F | 1.03% | 106,993 | $1.2M | Add +40.5% |
| NVG Nuveen Amt-FR Muni CRDT | 0.95% | 90,341 | $1.1M | Reduce -3.6% |
| AMZN Amazon.com Inc. | 0.91% | 4,844 | $1.1M | Reduce -0.4% |
| SPH Suburban Propane Partners LP | 0.67% | 42,320 | $789K | Reduce -0.5% |
| OHI Omega Healthcare Investors | 0.65% | 18,053 | $762K | Reduce -0.5% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.64% | 2,938 | $753K | Add +24.5% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.64% | 4,026 | $751K | Add +0.9% |
| BLW BlackRock Ltd. Durat Inc. TR | 0.64% | 53,491 | $749K | Add +2.0% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.63% | 9,371 | $742K | Add +44.6% |
| XRNPX Cohen & Steers REIT and Pref | 0.59% | 30,865 | $694K | Add +6.4% |
| HYT BlackRock Corp. Hi YLD | 0.53% | 65,269 | $620K | Reduce -0.6% |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | 0.50% | 2,007 | $590K | Add +18.6% |
| STK Columbia Slgmn Prem Tech GR | 0.48% | 15,850 | $560K | Reduce -0.9% |
| IRM Iron Mountain Inc. filed as IRON MTN INC DEL | 0.45% | 5,215 | $532K | No change |
| XLV SS Health Care Select Sector | 0.45% | 3,792 | $528K | Add +5.3% |
| DOC Healthpeak Properties Inc. | 0.45% | 27,443 | $526K | Reduce -0.5% |
| QQQ Invesco QQQ Trust Series 1 | 0.45% | 872 | $524K | Add +22.1% |
| MSD Morgan Stanley Emrg MKT Debt | 0.42% | 67,556 | $498K | Reduce -0.4% |
| WMT Walmart Inc. | 0.39% | 4,425 | $456K | Add +0.3% |
| XBMEX BlackRock Health Sciences | 0.34% | 10,584 | $394K | Add +9.5% |
| VDE Vanguard Energy ETF | 0.33% | 3,067 | $386K | Add +1.5% |
| DUK Duke Energy Corp. | 0.30% | 2,858 | $354K | No change |
| SEVN Seven Hills Realty Trust | 0.29% | 33,035 | $341K | No change |
| XLF SS Financial Select Sector | 0.23% | 5,069 | $273K | Add +2.7% |
| MO Altria Group Inc. | 0.22% | 3,921 | $259K | No change |
| ASG Liberty All-Star Growth FD | 0.20% | 42,263 | $235K | Add +0.1% |
| LDP Cohen & Steers Limited Durat | 0.19% | 10,171 | $220K | New |
| AFB Allianceberstein NTL Muni | 0.17% | 18,203 | $198K | No change |
| WEA Western Asset Premier Bond | 0.13% | 13,537 | $152K | Add +8.9% |
| USA Liberty All Star Equity Fund | 0.10% | 18,651 | $118K | No change |
| DHC Diversified Healthcare Trust | 0.08% | 22,593 | $100K | Reduce -0.7% |
| SVC Service Pptys TR | 0.04% | 18,377 | $50K | Reduce -2.4% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $8K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| COHEN & STEERS INFRASTRU | RIGHT 10/16/2025 | 98,699 | $8K | Reduce -2.2% |
Total filed on the 13F, all lines: $117.4M.
Portfolio Sells Q2 2025 → Q3 2025
| XJPIX Nuveen Preferred Securities | Sold out | 0.00% | −4.34 |
| FENG Phoenix New Media Ltd. -ADR | Sold out | 0.00% | −0.62 |
| BTT BlackRock 2030 Muni TRGT TRM | Sold out | 0.00% | −0.28 |
| UTF Cohen & Steers Infrastructur | Reduce -2.2% | 2.08% | −0.26 |
| MCI Barings Corporate Investors | Reduce -2.1% | 3.25% | −0.26 |
| PFO Flaherty & Crumrine P&I Opp | Sold out | 0.00% | −0.26 |
| PTY PIMCO Corporate & Income Opp | Reduce -13.3% | 1.97% | −0.25 |
| XBGYX BlackRock Enh Intl DVD TR | Reduce -4.7% | 2.54% | −0.18 |
| ASGI Abrdn Global Infrastructure | Reduce -10.6% | 1.12% | −0.10 |
| RFI Cohen & Steers Tot Ret RLTY | Reduce -1.7% | 3.47% | −0.09 |
| BTZ BlackRock Credit Allocation | Reduce -2.6% | 2.70% | −0.08 |
| BUI Blckrck Util Infra & PWR Opp | Reduce -4.1% | 1.09% | −0.04 |
| MPV Barings Participation Invest | Reduce -1.5% | 1.26% | −0.03 |
| XAWFX Alliancebernstein GL Hi Inc. | Reduce -1.2% | 3.92% | −0.03 |
| GDO Western Ast GLB Corp. Opprnty | Reduce -1.5% | 1.28% | −0.03 |
| MSD Morgan Stanley Emrg MKT Debt | Reduce -0.4% | 0.42% | −0.03 |
| HYT BlackRock Corp. Hi YLD | Reduce -0.6% | 0.53% | −0.02 |
| NVG Nuveen Amt-FR Muni CRDT | Reduce -3.6% | 0.95% | −0.02 |
| AMZN Amazon.com Inc. | Reduce -0.4% | 0.91% | −0.01 |
| SPH Suburban Propane Partners LP | Reduce -0.5% | 0.67% | −0.01 |
| SVC Service Pptys TR | Reduce -2.4% | 0.04% | +0.00 |
| DHC Diversified Healthcare Trust | Reduce -0.7% | 0.08% | +0.01 |
| PSF Cohen & Steers Select Prefer | Reduce -1.0% | 2.38% | +0.02 |
| DNP DNP Select Income Fund Inc. | Reduce -0.3% | 3.59% | +0.02 |
| DOC Healthpeak Properties Inc. | Reduce -0.5% | 0.45% | +0.03 |
| FLC Flaherty & Crumrine TTL RTRN | Reduce -1.7% | 1.98% | +0.03 |
| FFA First Trust Enhan Eqty Inc. | Reduce -2.2% | 2.91% | +0.04 |
| STK Columbia Slgmn Prem Tech GR | Reduce -0.9% | 0.48% | +0.06 |
| OHI Omega Healthcare Investors | Reduce -0.5% | 0.65% | +0.08 |
| CSQ Calamos Strat TTL RTRN FND | Reduce -0.5% | 3.75% | +0.14 |
| UTG Reaves Utility Income Fund | Reduce -0.8% | 2.67% | +0.18 |
| HQH Abrdn Healthcare Investors | Reduce -1.8% | 1.85% | +0.25 |
Portfolio Buys Q2 2025 → Q3 2025
| JPC Nuveen Prefered & Income Opp | Add +167.4% | 6.59% | +4.15 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +8.1% | 6.01% | +0.59 |
| AAPL Apple Inc. | Add +4.4% | 2.17% | +0.48 |
| VGT Vanguard Info Tech ETF | Add +9.2% | 2.63% | +0.46 |
| GOF Guggenheim Strategic Opport | Add +44.1% | 1.30% | +0.39 |
| PFD Flaherty & Crumrin Pre&inc F | Add +40.5% | 1.03% | +0.29 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +1.9% | 3.30% | +0.26 |
| PDI PIMCO Dynamic Income Fund | Add +8.7% | 2.33% | +0.25 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +44.6% | 0.63% | +0.23 |
| VIS Vanguard Industrials ETF | Add +12.0% | 1.41% | +0.20 |
| LDP Cohen & Steers Limited Durat | New | 0.19% | +0.19 |
| PCN PIMCO Corporate & Income STR | Add +5.1% | 2.19% | +0.19 |
| VB Vanguard Most SM-Cap ETF-Usd | Add +24.5% | 0.64% | +0.16 |
| NLY Annaly Capital Management Inc. | Add +1.1% | 2.05% | +0.14 |
| QQQ Invesco QQQ Trust Series 1 | Add +22.1% | 0.45% | +0.11 |
| DFP Flaherty & Crumrine DYN Pref | Add +0.9% | 1.86% | +0.09 |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | Add +18.6% | 0.50% | +0.09 |
| XFFCX Flaherty & Crumrine Pref Inc. | Add +2.3% | 1.05% | +0.05 |
| XBMEX BlackRock Health Sciences | Add +9.5% | 0.34% | +0.03 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +0.9% | 0.64% | +0.03 |
| XLV SS Health Care Select Sector | Add +5.3% | 0.45% | +0.03 |
| XSORX Source Capital Inc. | Add +0.2% | 1.08% | +0.03 |
| XRNPX Cohen & Steers REIT and Pref | Add +6.4% | 0.59% | +0.02 |
| VDE Vanguard Energy ETF | Add +1.5% | 0.33% | +0.02 |
| WMT Walmart Inc. | Add +0.3% | 0.39% | +0.02 |
| WEA Western Asset Premier Bond | Add +8.9% | 0.13% | +0.01 |
| DSU BlackRock Debt Strategies | Add +1.6% | 1.66% | +0.01 |
| XLF SS Financial Select Sector | Add +2.7% | 0.23% | +0.01 |
| ASG Liberty All-Star Growth FD | Add +0.1% | 0.20% | +0.00 |
| BLW BlackRock Ltd. Durat Inc. TR | Add +2.0% | 0.64% | −0.00 |
| ARCC Ares Capital Corp. | Add +0.8% | 5.15% | −0.42 |
| EQH Equitable Holdings Inc. | Add +6.7% | 1.33% | −1.94 |
Notes & Other Activity Q2 2025 → Q3 2025
| COHEN & STEERS INFRASTRU | RIGHT 10/16/2025 | Reduce -2.2% | 98,699 | $8K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 70 | $127.1M | BRK.B, JPC, ARCC, VGT, CSQ |
| Q1 2026 | 70 | $116.5M | BRK.B, JPC, ARCC, DNP, XAWFX |
| Q4 2025 | 70 | $121.1M | BRK.B, JPC, ARCC, CSQ, XAWFX |
| Q3 2025 | 66 | $117.4M | JPC, BRK.B, ARCC, XAWFX, CSQ |
| Q2 2025 | 69 | $115.8M | ARCC, BRK.B, XJPIX, XAWFX, CSQ |
| Q1 2025 | 66 | $106.1M | BRK.B, ARCC, MCI, XJPIX, XAWFX |
| Q4 2024 | 66 | $102.7M | ARCC, BRK.B, XJPIX, XAWFX, MCI |