SMH CAPITAL ADVISORS INC's Q3 2025 13F: 12 new positions, 7 exits
Form 13F-HR for the quarter ended Sep 30, 2025 · filed Nov 13, 2025 · 51 reported positions · accession 0001180391-25-000004
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Increased | SPDR SERIES TRUST (SPHY) | 3.3% | 9.7% | +6.4 pts | +138K sh | +223% |
| Exited | WISDOMTREE INC (WT 5.75 08/15/28) | 4.3% | — | −4.3 pts | −1.45M sh | −100% |
| Increased | PROSPECT CAP CORP (PSEC) | 1.1% | 2.4% | +1.3 pts | +293K sh | +202% |
| Reduced | SPDR S&P 500 ETF TR (SPY) | 2.7% | 1.1% | −1.5 pts | −1,072 sh | −57% |
| New | HERCULES CAPITAL INC (HTGC) | — | 1.5% | +1.5 pts | +40,565 sh | new |
| New | WISDOMTREE INC (WT 3.25 08/15/29) | — | 1.3% | +1.3 pts | +548K sh | new |
| Increased | CAPITAL SOUTHWEST CORP (CSWC) | 2.3% | 3.2% | +0.9 pts | +31,294 sh | +69% |
| Increased | BLUE OWL CAPITAL INC (OWL) | 1.5% | 2.2% | +0.7 pts | +33,156 sh | +95% |
| Exited | PENNANTPARK INVT CORP (PNNT) | 1.1% | — | −1.1 pts | −68,210 sh | −100% |
| Exited | VERIZON COMMUNICATIONS INC (VZ) | 1.1% | — | −1.1 pts | −10,735 sh | −100% |
| Exited | COMPASS DIVERSIFIED (CODI) | 1.0% | — | −1.0 pts | −73,293 sh | −100% |
| Reduced | CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) | 28.6% | 24.2% | −4.3 pts | −525K sh | −4% |
| New | HIGHPEAK ENERGY INC (HPK) | — | 0.9% | +0.9 pts | +68,830 sh | new |
| New | FUBOTV INC (FUBO) | — | 0.8% | +0.8 pts | +99,075 sh | new |
| New | GRANITE CONSTR INC (GVA 3.25 06/15/30) | — | 0.6% | +0.6 pts | +200K sh | new |
| Exited | VICTORY CAP HLDGS INC (VCTR) | 0.6% | — | −0.6 pts | −4,091 sh | −100% |
| New | LYFT INC (LYFT 0.625 03/01/29) | — | 0.5% | +0.5 pts | +200K sh | new |
| New | SELECTQUOTE INC (SLQT) | — | 0.5% | +0.5 pts | +118K sh | new |
| New | INNOVATIVE INDL PPTYS INC (IIPR) | — | 0.5% | +0.5 pts | +4,890 sh | new |
| New | APOLLO GLOBAL MGMT INC (APO) | — | 0.5% | +0.5 pts | +1,875 sh | new |
| New | INVESCO QQQ TR (QQQ) | — | 0.4% | +0.4 pts | +348 sh | new |
| New | AMERICAN TOWER CORP NEW (AMT) | — | 0.4% | +0.4 pts | +1,200 sh | new |
| New | BLACKLINE INC (BL 1 06/01/29) | — | 0.4% | +0.4 pts | +200K sh | new |
| Increased | CIVITAS RESOURCES INC (CIVI) | 1.3% | 1.5% | +0.2 pts | +5,037 sh | +24% |
| Increased | VICI PPTYS INC (VICI) | 3.0% | 2.7% | −0.3 pts | +3,041 sh | +7% |
| Increased | TRINITY CAP INC (TRIN) | 4.3% | 4.3% | 0.0 pts | +3,476 sh | +3% |
| Exited | ORION PROPERTIES INC (ONL) | 0.1% | — | −0.1 pts | −21,281 sh | −100% |
| Reduced | U S GLOBAL INVS INC (GROW) | 0.6% | 0.5% | −0.1 pts | −8,953 sh | −9% |
| Increased | RITHM CAPITAL CORP (RITM) | 0.9% | 0.8% | −0.1 pts | +1,830 sh | +5% |
| Increased | WISDOMTREE INC (WT) | 0.4% | 0.4% | 0.0 pts | +992 sh | +6% |
| Exited | HELLO GROUP INC (MOMO 1.25 07/01/25) | 0.0% | — | 0.0 pts | −10,000 sh | −100% |
| Increased | NEXPOINT DIVERSIFIED REL ET (HCF) | 0.6% | 0.4% | −0.2 pts | +1,575 sh | +3% |
| Reduced | VANGUARD INTL EQUITY INDEX F (VWO) | 0.9% | 0.9% | 0.0 pts | −84 sh | −1% |
| Increased | BLACKROCK CORPOR HI YLD FD I (HYT) | 0.6% | 0.5% | −0.1 pts | +434 sh | +2% |
| Increased | ALLIANCEBERNSTEIN GLOBAL HIG (AWF) | 0.6% | 0.5% | −0.1 pts | +364 sh | +2% |
| Increased | VIRTUS EQUITY & CONV INCM FD (NIE) | 0.6% | 0.6% | 0.0 pts | +144 sh | +1% |
| Increased | WISDOMTREE INC (WT 3.25 06/15/26) | 23.5% | 21.7% | −1.7 pts | +3,000 sh | 0% |
| Increased | BLACKROCK CR ALLOCATION INCO (BTZ) | 0.5% | 0.5% | 0.0 pts | +292 sh | +1% |
| Increased | CALAMOS STRATEGIC TOTAL RETU (CSQ) | 0.6% | 0.6% | 0.0 pts | +159 sh | +1% |
| Increased | BLACKROCK MULTI SECTOR INC T (BIT) | 0.4% | 0.3% | −0.1 pts | +226 sh | +2% |
| Increased | EATON VANCE TAX ADVT DIV INC (EVT) | 0.5% | 0.5% | 0.0 pts | +115 sh | +1% |
| Increased | ADAMS DIVERSIFIED EQUITY FD (ADX) | 0.6% | 0.6% | 0.0 pts | +119 sh | +1% |
| Increased | MAIN STR CAP CORP (MAIN) | 2.5% | 2.2% | −0.3 pts | +48 sh | 0% |
| Reduced | CARLYLE GROUP INC (CG) | 2.2% | 2.1% | −0.2 pts | −47 sh | 0% |
| Increased | TEMPLETON EMERGING MKTS INCO (TEI) | 0.3% | 0.3% | 0.0 pts | +366 sh | +2% |
| Increased | HANCOCK JOHN TAX-ADVANTAGED (HTD) | 0.5% | 0.4% | 0.0 pts | +76 sh | +1% |
| Increased | COHEN & STEERS QUALITY INCOM (RQI) | 0.4% | 0.4% | 0.0 pts | +146 sh | +1% |
| Increased | HA SUSTAINABLE INFRA CAP INC (HASI) | 0.8% | 0.8% | −0.1 pts | +37 sh | 0% |
| Increased | REALTY INCOME CORP (O) | 1.0% | 0.9% | −0.1 pts | +13 sh | 0% |
| Increased | GABELLI DIVID & INCOME TR (GDV) | 0.5% | 0.5% | 0.0 pts | +17 sh | 0% |
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
Top 10 positions — 74.6% of the equity book
Changes in the top 10 this quarter: PSEC entered · OWL entered · WT 5.75 08/15/28 left · SPY left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) | 28.6% | 24.2% | |
| 2 | WISDOMTREE INC (WT 3.25 06/15/26) | 23.5% | 21.7% | |
| 3 | SPDR SERIES TRUST (SPHY) | 3.3% | 9.7% | |
| 4 | TRINITY CAP INC (TRIN) | 4.3% | 4.3% | |
| 5 | CAPITAL SOUTHWEST CORP (CSWC) | 2.3% | 3.2% | |
| 6 | VICI PPTYS INC (VICI) | 3.0% | 2.7% | |
| 7 | PROSPECT CAP CORP (PSEC) | 1.1% | 2.4% | Entered the top 10 |
| 8 | BLUE OWL CAPITAL INC (OWL) | 1.5% | 2.2% | Entered the top 10 |
| 9 | MAIN STR CAP CORP (MAIN) | 2.5% | 2.2% | |
| 10 | CARLYLE GROUP INC (CG) | 2.2% | 2.1% | |
| — | WISDOMTREE INC (WT 5.75 08/15/28) | 4.3% | 0.0% | Left the top 10 |
| — | SPDR S&P 500 ETF TR (SPY) | 2.7% | 1.1% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).