Smh Capital Advisors INC — Q3 2025 13F Holdings

Name: Smh Capital Advisors INC — 13F Holdings, Q3 2025
Creator: AlphaSMO
License: https://www.sec.gov/forms

CIK: 0001180391

Total reported value

$32.9M

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Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	CSWC 5.125 11-15-29	Capital Southwest CORP	Stock-Other	24.25%	+10.73%	-4.10%
2	WT 3.25 06-15-26	Wisdomtree Investments	Stock-Other	21.72%	-22.01%	EXIT
3	SPHY	Ss Spdr P High Yield ETF	ETF-High Yield	9.71%	-4.85%	EXIT
4	TRIN	Trinity Capital INC	Stock-Other	4.28%	+2.55%	+2.57%
5	CSWC	Capital Southwest CORP	Stock-Other	3.17%	—	+69.21%
6	VICI	Vici Properties INC	Stock-Real Estate	2.70%	+1.24%	+7.40%
7	PSEC	Prospect Capital CORP	Stock-Other	2.38%	—	+201.54%
8	OWL	Blue Owl Capital INC	Stock-Financials	2.18%	+0.35%	+95.42%
9	MAIN	Main Street Capital CORP	Stock-Financials	2.17%	+0.72%	+0.26%
10	CG	Carlyle Group Inc/the	Stock-Financials	2.07%	+0.50%	-0.25%
11	CIVI	Civitas Resources INC	Stock-Other	1.51%	-1.42%	EXIT
12	HTGC	Hercules Capital INC	Stock-Financials	1.48%	+0.27%	—
13	WT 3.25 08-15-29	Wisdomtree INC	Stock-Other	1.33%	+1.04%	—
14	DKS	Dick's Sporting Goods INC	Stock-Consumer Disc	1.23%	—	—
15	SPY	Ss Spdr S&p 500 ETF Trust-us	ETF-Large Cap & Growth	1.15%	+0.48%	-56.54%
16	HPK	Highpeak Energy INC	Stock-Other	0.93%	-0.66%	EXIT
17	O	Realty Income CORP	Stock-Real Estate	0.91%	-0.88%	EXIT
18	VWO	Vanguard Ftse Emerging Marke	ETF-Emerging Markets	0.86%	—	-1.09%
19	EFA	Ishares Msci Eafe ETF	ETF-Other	0.82%	—	—
20	RITM	Rithm Capital CORP	Stock-Real Estate	0.80%	+1.10%	+5.36%
21	HASI	Ha Sustainable Infrastructur	Stock-Financials	0.78%	+0.41%	+0.27%
22	FUBOGBP	Fubotv INC	Stock-Other	0.76%	-0.51%	EXIT
23	ADX	Adams Diversified Equity	Stock-Other	0.63%	+0.25%	+0.91%
24	GVA 3.25 06-15-30	Granite Construction INC	Stock-Industrials	0.59%	-0.65%	EXIT
25	CSQ	Calamos Strat Ttl Rtrn Fnd	Stock-Other	0.59%	+0.19%	+1.07%
26	XNIEX	Virtus Equity & Convertible	Stock-Other	0.57%	+0.22%	+1.37%
27	CGBD	Carlyle Secured Lending INC	Stock-Other	0.57%	+0.18%	—
28	XAWFX	Alliancebernstein Gl Hi INC	Stock-Other	0.54%	+0.23%	+1.53%
29	HYT	Blackrock CORP Hi Yld	Stock-Other	0.52%	+0.21%	+1.66%
30	LYFT 0.625 03-01-29	Lyft INC	Stock-Tech	0.51%	+0.12%	—
31	BTZ	Blackrock Credit Allocation	Stock-Other	0.50%	+0.20%	+1.34%
32	SLQT	Selectquote INC	Stock-Other	0.50%	-0.34%	EXIT
33	XGDVX	Gabelli Dividend & Income Tr	Stock-Other	0.50%	—	+0.19%
34	IIPR	Innovative Industrial Proper	Stock-Real Estate	0.50%	+0.27%	—
35	APO	Apollo Global Management INC	Stock-Financials	0.48%	+0.09%	—
36	GROW	U.s. Global Investors Inc-a	Stock-Other	0.46%	-0.20%	EXIT
37	XEVTX	Eaton Vance Tax-adv Dvd INC	Stock-Other	0.45%	—	+1.29%
38	HTD	John Hancock Tax Adv Dvd INC	Stock-Other	0.45%	+0.24%	+0.87%
39	QQQ	Invesco Qqq Trust Series 1	ETF-Tech	0.45%	+0.17%	—
40	AMT	American Tower CORP	Stock-Real Estate	0.44%	—	—
41	BL 1 06-01-29	Blackline INC	Stock-Tech	0.44%	-0.43%	EXIT
42	WT	Wisdomtree INC	Stock-Other	0.44%	+0.40%	+5.87%
43	NXDT	Nexpoint Diversified Real Es	Stock-Other	0.39%	+0.37%	+2.68%
44	RQI	Cohen & Steers Qual INC Rlty	Stock-Other	0.37%	-0.35%	EXIT
45	BIT	Blackrock Multi-sector INC	Stock-Other	0.34%	-0.34%	EXIT
46	NAD	Nuveen Quality Municipal INC	Stock-Other	0.30%	-0.30%	EXIT
47	XNEAX	Nuveen Amt-fr Qlty Muni INC	Stock-Other	0.29%	-0.29%	EXIT
48	AFB	Allianceberstein Ntl Muni	Stock-Other	0.28%	-0.28%	EXIT
49	EIM	Eaton Vance Municipal Bond	Stock-Other	0.28%	-0.27%	EXIT
50	TEI	Templeton Emrg Mkts INC	Stock-Other	0.27%	-0.27%	EXIT

1–50 of 51

Holding changes this quarter

Position changes disclosed by Smh Capital Advisors INC for the quarter ending Q3 2025, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	SPHY	Ss Spdr P High Yield ETF	+8.1%	+222.58%	Add
2	PSEC	Prospect Capital CORP	+1%	+201.54%	Add
3	CSWC	Capital Southwest CORP	+0.8%	+69.21%	Add
4	CG	Carlyle Group Inc/the	+0.1%	-0.25%	Trim
5	WT	Wisdomtree INC	+0.1%	+5.87%	Add
6	VWO	Vanguard Ftse Emerging Marke	+0.1%	-1.09%	Trim
7	ADX	Adams Diversified Equity	+0.1%	+0.91%	Trim
8	EFA	Ishares Msci Eafe ETF	0%	—	Add
9	CSQ	Calamos Strat Ttl Rtrn Fnd	0%	+1.07%	Trim
10	XNIEX	Virtus Equity & Convertible	0%	+1.37%	Add
11	TEI	Templeton Emrg Mkts INC	0%	+1.79%	Trim
12	XGDVX	Gabelli Dividend & Income Tr	0%	+0.19%	Trim
13	NAD	Nuveen Quality Municipal INC	0%	—	Add
14	XEVTX	Eaton Vance Tax-adv Dvd INC	0%	+1.29%	Trim
15	BTZ	Blackrock Credit Allocation	-0.1%	+1.34%	Add
16	BIT	Blackrock Multi-sector INC	-0.1%	+1.82%	Add
17	NXDT	Nexpoint Diversified Real Es	-0.1%	+2.68%	Add
18	HASI	Ha Sustainable Infrastructur	-0.2%	+0.27%	Trim
19	AFCG	Advanced Flower Capital INC	-0.2%	—	Unchanged
20	CIVI	Civitas Resources INC	-0.2%	+24.34%	Add
21	VICI	Vici Properties INC	-0.4%	+7.40%	Add
22	TRIN	Trinity Capital INC	-0.5%	+2.57%	Add
23	WT 3.25 06-15-26	Wisdomtree Investments	-0.5%	+0.03%	Add
24	CSWC 5.125 11-15-29	Capital Southwest CORP	-2.7%	-4.10%	Add
25	EZPW 2.375 05-01-25	Ezcorp INC	—	EXIT	Sold out
26	WT 5.75 08-15-28	Wisdomtree INC	—	EXIT	Sold out
27	CODI	Compass Diversified Holdings	—	EXIT	Sold out
28	OWL	Blue Owl Capital INC	—	NEW	New buy
29	T	At&t INC	—	EXIT	Sold out
30	HTGC	Hercules Capital INC	—	NEW	New buy
31	WT 3.25 08-15-29	Wisdomtree INC	—	NEW	New buy
32	ENB	Enbridge INC	—	EXIT	Sold out
33	DKS	Dick's Sporting Goods INC	—	NEW	New buy
34	SPY	Ss Spdr S&p 500 ETF Trust-us	—	NEW	New buy
35	VZ	Verizon Communications INC	—	EXIT	Sold out
36	PNNT	Pennantpark Investment CORP	—	EXIT	Sold out
37	HPK	Highpeak Energy INC	—	NEW	New buy
38	FUBOGBP	Fubotv INC	—	NEW	New buy
39	GVA 3.25 06-15-30	Granite Construction INC	—	NEW	New buy
40	CGBD	Carlyle Secured Lending INC	—	NEW	New buy
41	VCTR	Victory Capital Holding - A	—	EXIT	Sold out
42	LYFT 0.625 03-01-29	Lyft INC	—	NEW	New buy
43	SLQT	Selectquote INC	—	NEW	New buy
44	IIPR	Innovative Industrial Proper	—	NEW	New buy
45	APO	Apollo Global Management INC	—	NEW	New buy
46	QQQ	Invesco Qqq Trust Series 1	—	NEW	New buy
47	AMT	American Tower CORP	—	NEW	New buy
48	BL 1 06-01-29	Blackline INC	—	NEW	New buy
49	ONL	Orion Properties INC	—	EXIT	Sold out
50	MOMO 1.25 07-01-25	Hello Group INC	—	EXIT	Sold out