Data as of Q4 2025 (Dec 31, 2025)

SMH CAPITAL ADVISORS INC

•CIK: 1180391•Filing: Q4 2025

SMH Capital Advisors Inc., with $49.1 billion in assets under management, is led by Steven M. Cohen, known for his quantitative and event-driven investment strategies. The fund recently increased positions in STT-PG, BACRP, and GSCE, while significantly reducing stakes in GROW and SPHY, reflecting a strategic shift in focus.

Total AUM
$49.1B
QoQ Performance
+0.2%
Positions
52
Top 10 Concentration
72.2%
Latest Filing
Q4 2025

Top Holdings Allocation

CAPI
WISD
TRIN
CAPITAL24.5%
WISDOMTREE22.0%
TRIN5.1%
SPHY4.9%
CSWC3.5%
VICI2.8%
RIOT2.5%
MAIN2.3%

📈 Biggest Buys

—
RIOT PLATFORMS INC
NEW
2.5% of portfolio
TRIN
TRINITY CAP INC
+22.9%
5.1% of portfolio
—
SUPER MICRO COMPUTER INC
NEW
0.9% of portfolio
—
MARA HOLDINGS INC
NEW
0.8% of portfolio
TPG
TPG INC
NEW
0.4% of portfolio

📉 Biggest Sells

SPHY
SPDR SERIES TRUST
-49.7%
4.9% of portfolio
HASI
HA SUSTAINABLE INFRA CAP INC
-37.2%
0.6% of portfolio
DKS
DICKS SPORTING GOODS INC
-25.3%
0.8% of portfolio
GROW
U S GLOBAL INVS INC
-55.1%
0.2% of portfolio
—
CAPITAL SOUTHWEST CORP
-0.7%
24.5% of portfolio

Sector Breakdown

Other97.6%
Real Estate1.3%
ETF1.1%

Changes from Q3 2025

NEW4 new positions
↑18 increased
↓19 decreased

Historical Filings

Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023

📌 Top Holdings

TRIN5.1%
TRINITY CAP INC
$2.5B
SPHY4.9%
SPDR SERIES TRUST
$2.4B
CSWC3.5%
CAPITAL SOUTHWEST CORP
$1.7B
VICI2.8%
VICI PPTYS INC
$1.4B
MAIN2.3%
MAIN STR CAP CORP
$1.1B

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