# SM Investors

> SM Investors is an SEC-registered investment advisory firm in New York, NY, registered since 2011, reporting $25 million to $100 million in regulatory assets under management in its Form ADV filing dated March 27, 2026.

- CRD: 155549
- Filed as: SM INVESTORS
- Legal name: S. Muoio & Co. LLC
- Also doing business as: SM INVESTORS
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: March 27, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/155549
- AdvisorCensus page: https://advisorcensus.com/firm/sm-investors-new-york-ny-155549

## Quick answers

**How is SM Investors compensated?**
On its Form ADV (Item 5.E, October 2026), SM Investors reports these compensation arrangements: a percentage of assets under its management; performance-based fees.

**How much does SM Investors charge?**
Its Form ADV Part 2A brochure dated March 27, 2026 states: Asset-based fee: 1% to 1.5% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is SM Investors located?**
SM Investors' principal office is in New York, NY, according to its Form ADV.

**Is SM Investors registered with the SEC or a state?**
SM Investors is an SEC-registered investment advisory firm, registered since 2011. Status as filed: Approved. CRD 155549.

**How much does SM Investors manage?**
SM Investors reports $95,063,762 in regulatory assets under management in its Form ADV filing dated March 27, 2026 (100% discretionary).

**How have SM Investors' assets and staff changed since 2021?**
In the Form ADV data for SM Investors: Regulatory assets under management: $154,221,420 in the October 2021 data and $95,063,762 in the October 2026 data, down 38%. Total employees: 3 in October 2021 and 2 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does SM Investors serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (6).

**Which custodians does SM Investors use?**
SM Investors' most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Jefferies LLC as a custodian holding 10% or more of its separately managed account assets.

**Does SM Investors report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/155549

**What changed in SM Investors' recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $82,841,537 to $95,063,762 (+15%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Fees and minimums (Form ADV Part 2A brochure dated March 27, 2026)

- Asset-based fee: 1% to 1.5% a year (a range, as the brochure states it)

> Currently, the investment management fee charged to clients ranges from 1.0% to 1.5% per annum.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Jefferies LLC

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $95,063,762
- Discretionary: $95,063,762
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 6 | $83,556,958 |
| Corporations or other businesses not listed above | Fewer than 5 | $11,506,804 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Other

### Firm details
- Registered since: 2011 (15 years)
- Employees: 2 total, 2 performing advisory functions
- Wrap fee program participation: No
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- [sminvestors.com](https://sminvestors.com)

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $154,221,420 | 3 | May 13, 2021 |
| October 2022 | $188,904,760 | 3 | September 16, 2022 |
| October 2023 | $124,727,798 | 3 | May 3, 2023 |
| October 2024 | $100,986,850 | 2 | June 10, 2024 |
| October 2025 | $82,841,537 | 2 | March 27, 2025 |
| October 2026 | $95,063,762 | 2 | March 27, 2026 |

Regulatory assets under management: $154,221,420 in the October 2021 data and $95,063,762 in the October 2026 data, down 38%.
Total employees: 3 in October 2021 and 2 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $82,841,537 to $95,063,762 (+15%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. SM Investors (CRD 155549): Form ADV filing data as of October 2026.