# SMH Capital Advisors LLC

> SMH Capital Advisors LLC is an SEC-registered investment advisory firm in Weatherford, TX, registered since 1997, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated September 29, 2026.

- CRD: 108344
- Filed as: SMH CAPITAL ADVISORS LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Weatherford, TX
- Filing period: October 2026
- Form ADV filing dated: September 29, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/108344
- AdvisorCensus page: https://advisorcensus.com/firm/smh-capital-advisors-llc-weatherford-tx-108344

## Quick answers

**How is SMH Capital Advisors LLC compensated?**
On its Form ADV (Item 5.E, October 2026), SMH Capital Advisors LLC reports these compensation arrangements: a percentage of assets under its management; hourly charges; commissions. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is SMH Capital Advisors LLC located?**
SMH Capital Advisors LLC's principal office is in Weatherford, TX, according to its Form ADV; the October 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is SMH Capital Advisors LLC registered with the SEC or a state?**
SMH Capital Advisors LLC is an SEC-registered investment advisory firm, registered since 1997. Status as filed: Approved. CRD 108344.

**How much does SMH Capital Advisors LLC manage?**
SMH Capital Advisors LLC reports $503,081,102 in regulatory assets under management in its Form ADV filing dated September 29, 2026 (100% discretionary).

**How have SMH Capital Advisors LLC's assets and staff changed since 2021?**
In the Form ADV data for SMH Capital Advisors LLC: Regulatory assets under management: $323,119,498 in the October 2021 data and $503,081,102 in the October 2026 data, up 56%. Total employees: 8 in October 2021 and 7 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does SMH Capital Advisors LLC serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (161); high net worth individuals (6); investment companies (2).

**Which custodians does SMH Capital Advisors LLC use?**
SMH Capital Advisors LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists State Street Global Advisors Funds Distributors, LLC as a custodian holding 10% or more of its separately managed account assets.

**Does SMH Capital Advisors LLC 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/108344

**What changed in SMH Capital Advisors LLC's recent Form ADV filings?**
In the October 2026 filing data: No longer lists an office in Weatherford, TX.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Commissions

### Custodians (Schedule D, Section 5.K(3))
- State Street Global Advisors Funds Distributors, 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: $503,081,102
- Discretionary: $503,081,102
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 161 | $28,329,444 |
| High net worth individuals | 6 | $9,468,150 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 2 | $98,104,140 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | $0 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | Fewer than 5 | $349,689,763 |
| Charitable organizations | 0 | $0 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 2 | $13,084,608 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | Fewer than 5 | $4,404,997 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies (and business development companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Pension consulting services

### Firm details
- Registered since: 1997 (29 years)
- Employees: 7 total, 2 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AZ, CA, CO, CT, DE, FL, GA, IL, KS, LA, MA, MD, MO, NH, NJ, NM, NY, OH, OK, PA, TX, VA, WI, WY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the October 2026 filing
- Southlake, TX

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

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $323,119,498 | 8 | August 15, 2021 |
| October 2022 | $426,686,200 | 8 | March 24, 2022 |
| October 2023 | $370,511,025 | 3 | June 1, 2023 |
| October 2024 | $394,700,274 | 4 | April 11, 2024 |
| October 2025 | $419,741,296 | 4 | March 27, 2025 |
| October 2026 | $503,081,102 | 7 | September 29, 2026 |

Regulatory assets under management: $323,119,498 in the October 2021 data and $503,081,102 in the October 2026 data, up 56%.
Total employees: 8 in October 2021 and 7 in October 2026.

## Changes in the filing (last 12 months)

### October 2026
- No longer lists an office in Weatherford, TX.

### April 2026
- Regulatory assets under management went from $419,741,296 to $503,081,102 (+20%).
- Added an office in Southlake, TX.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. SMH Capital Advisors LLC (CRD 108344): Form ADV filing data as of October 2026.