13F Insight
DOSSIER · 13F-HR · Q1 2026
Data quality notice: this filer's reported share counts and dollar values are inconsistent with other institutions holding the same securities. Figures on this page reflect the filing as submitted to the SEC and may be unreliable.

SMH CAPITAL ADVISORS INC

$33M in tracked AUM across 38 positions as of Q1 2026.

SC
CIK 0001180391 · last filed Mar 31, 2026
Total AUM
$33M
as of Q1 2026
Holdings
38
—
positions
Whale Score
55
55
tracked
Activity
—
no data
changes this Q
AI Analysis · Q1 2026
Comprehensive Analysis of SMH CAPITAL ADVISORS INC 13F Filing
Portfolio Overview

SMH CAPITAL ADVISORS INC manages a concentrated portfolio with a total value of $39.36 million as of the reporting period ending September 30, 2025. The portfolio consists of 34 holdings, indicating a focused investment strategy rather than broad diversification. Over the quarter, the firm experienced a portfolio value decrease of 10.7% (down from $44.06M), a decline likely driven by a combination...

The firm demonstrates a high level of conviction in its top picks, with the two largest positions accounting for nearly 60% of the total assets. The portfolio turnover this quarter was exceptionally high, characterized by a substantial restructuring: the manager exited 21 positions while initiating 9 new ones and significantly increasing exposure in 18 existing holdings. This aggressive rotation suggests a tactical shift in strategy rather than a passive buy-and-hold approach.

Key Holdings

Quarter at a glance — Q1 2026

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q1 2026.

#HoldingValueSharesWeight
01
CSWC 5.125 11/15/29
CAPITAL SOUTHWEST CORP
$12M12K35.2%02
TRIN
TRINITY CAP INC
$3M3K7.6%03
CSWC
CAPITAL SOUTHWEST CORP
$2M2K5.3%04
VICI
VICI PPTYS INC
$1M1K4.1%05
RIOT 0.75 01/15/30
RIOT PLATFORMS INC
$1M1K3.8%06
SM
SM ENERGY COMPANY
$1M1K3.5%07
PSEC
PROSPECT CAP CORP
$1M1K3.4%08
MAIN
MAIN STR CAP CORP
$1M1K3.0%09
CG
CARLYLE GROUP INC
$911K9112.8%10
OWL
BLUE OWL CAPITAL INC
$795K7952.4%

Filing history

2026Q1Mar 31
$33M▼ 32.9%
38 positionsView →2025Q4Dec 31
$49M▲ 24.8%
55 positionsView →2025Q3Sep 30
$39M▼ 10.7%
34 positionsView →2025Q2Jun 30
$44M▲ 23.1%
46 positionsLocked2025Q1Mar 31
$36M▼ 13.7%
32 positionsLocked2024Q4Dec 31
$41M▲ 28.0%
45 positionsLocked2024Q3Sep 30
$32M▼ 0.9%
47 positionsLocked2024Q2Jun 30
$33M▼ 11.9%
49 positionsLocked2024Q1Mar 31
$37M▼ 19.5%
48 positionsLocked2023Q4Dec 31
$46M▲ 7.7%
47 positionsLocked2023Q3Sep 30
$43M▼ 7.3%
44 positionsLocked2023Q2Jun 30
$46M▲ 174.5%
54 positionsLocked
Showing 12 of 54