SMH CAPITAL ADVISORS INC

Q4 2025 13F-HR Holdings

Location
Fort Worth, TX
Holdings as of
12/31/2025
Date filed
2/12/2026
Form type
13F-HR
Num holdings
55
Total value ($000)
$49,131
Net value change ($000)
+110 (0.2%)
New positions
1
Sold out positions
0
Turnover %
1.0%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/13/2025 Next filing: 4/10/2026 SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
TRIN 405 19.3%
TPG 217 NEW
CSWC 182 11.7%
CG 103 10.2%
MAIN 77 7.2%
VICI 58 4.4%
HTGC 46 6.3%
APO 39 16.7%
NXDT 32 16.7%
EFA 8 2.0%
Top Reduces (Value $000, Stocks/ETFs)
SPHY -2,377 -49.9%
DKS -200 -33.2%
HPK -134 -29.3%
GROW -129 -56.6%
FUBO -126 -33.6%
HASI -110 -28.7%
SLQT -80 -32.5%
PSEC -62 -5.3%
OWL -59 -5.5%
CIVI -45 -6.1%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
Filter:
Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type