# EDGAR Filing Document

**Accession Number:** 0001180391
**File Stem:** 0001085146-25-005628
**Filing Date:** 2025-8
**Character Count:** 26301
**Document Hash:** c7984617f1335ae2ee6a8df0e3422a51
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001085146-25-005628.hdr.sgml**: 20250829

**ACCESSION NUMBER**: 0001085146-25-005628

**CONFORMED SUBMISSION TYPE**: N-PX

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250829

**EFFECTIVENESS DATE**: 20250829

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SMH CAPITAL ADVISORS INC
- **CENTRAL INDEX KEY:** 0001180391

**ORGANIZATION NAME:**
- **EIN:** 752681494
- **STATE OF INCORPORATION:** TX

**FILING VALUES:**
- **FORM TYPE:** N-PX
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-10258
- **FILM NUMBER:** 251277867

**BUSINESS ADDRESS:**
- **STREET 1:** 4200 S. HULEN
- **STREET 2:** STE 534
- **CITY:** FORT WORTH
- **STATE:** TX
- **ZIP:** 76109
- **BUSINESS PHONE:** 7132243100

**MAIL ADDRESS:**
- **STREET 1:** 4200 S. HULEN
- **STREET 2:** STE 534
- **CITY:** FORT WORTH
- **STATE:** TX
- **ZIP:** 76109

## FORM N-PX
### ANNUAL REPORT OF PROXY VOTING RECORD

## N-PX: Filer Information

**Filer CIK:** 0001180391

**Date of Report:** 06/30/2025

**Are you a Registered Management Investment Company or an Institutional Manager?:** Institutional Manager

**Is this a LIVE or TEST Filing?:** LIVE

**Is this an electronic copy of an official filing submitted in paper format?:** [ ]

### Submission Contact Information
_Not provided in this filing._

### Notification Information
**Notify via Filing Website only?:** [ ]

## N-PX: Cover Page

**Name of reporting person:** SMH CAPITAL ADVISORS INC

**Address:** 4200 S. HULEN, FORT WORTH, TX 76109

**Telephone number:** 817-569-7005

**Name of agent for service:** —

**Agent Address:** —, —, — —

**Reporting Period:** Report for the year ended 06/30/2025

**SEC File Number:** 028-10258

**CRD Number (if any):** —

**Other SEC File Number (if any):** —

**LEI (if any):** —

**Report Type (check only one):**

Institutional Manager.

- [x] Institutional Manager Voting Report

- [ ] Institutional Manager Notice Report

- [ ] Institutional Manager Combination Report

Registered Management Investment Company.

- [ ] Fund Voting Report

- [ ] Fund Notice Report

**Do you wish to provide explanatory information pursuant to Special Instruction B.4?:**

- [x] No

- [ ] Yes

**Additional information:** —

## N-PX: Summary - Included Managers

**Number of Included Institutional Managers:** 0

**Included Institutional Managers:** —

## FORM N-PX PROXY VOTING RECORD

| NAME OF ISSUER                         | CUSIP     | MEETING DATE   | VOTE DESCRIPTION                                                                            | VOTE CATEGORY                |   SHARES VOTED |   SHARES ON LOAN | HOW VOTED   |   SHARES VOTED FOR OR AGAINST MANAGEMENT | FOR OR AGAINST MANAGEMENT   | OTHER INFO   |
|:---|:---|:---|:---|:---|---:|---:|:---|---:|:---|:---|
| 3M COMPANY                             | 88579Y101 | 05/13/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |             22 |                0 | FOR         |                                       22 | FOR                         |  |
| AMAZON.COM, INC.                       | 023135106 | 05/21/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |            208 |                0 | FOR         |                                      208 | FOR                         |  |
| APPLE INC.                             | 037833100 | 02/25/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |              9 |                0 | FOR         |                                        9 | FOR                         |  |
| ARES MANAGEMENT CORPORATION            | 03990B101 | 06/06/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |             24 |                0 | FOR         |                                       24 | FOR                         |  |
| ARES MANAGEMENT CORPORATION            | 03990B101 | 06/06/2025     | Advisory (Non-Binding) Vote Determing Frequency of Advisory Votes on Executive Compensation | SECTION 14A SAY-ON-PAY VOTES |             24 |                0 | FOR         |                                       24 | FOR                         |  |
| AT INC.                                | 00206R102 | 05/15/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |          20684 |                0 | FOR         |                                    20684 | FOR                         |  |
| BRIGHTSPIRE CAPITAL, INC.              | 10949T109 | 05/14/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |             27 |                0 | FOR         |                                       27 | FOR                         |  |
| BRIGHTSPIRE CAPITAL, INC.              | 10949T109 | 05/14/2025     | Advisory (Non-Binding) Vote Determing Frequency of Advisory Votes on Executive Compensation | SECTION 14A SAY-ON-PAY VOTES |             27 |                0 | FOR         |                                       27 | FOR                         |  |
| BROADCOM INC                           | 11135F101 | 04/21/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |             26 |                0 | FOR         |                                       26 | FOR                         |  |
| C3.AI, INC.                            | 12468P104 | 10/02/2024     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |            208 |                0 | FOR         |                                      208 | FOR                         |  |
| CAPITAL SOUTHWEST CORPORATION          | 140501107 | 07/25/2024     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |          12325 |                0 | FOR         |                                    12325 | FOR                         |  |
| CELSIUS HOLDINGS, INC.                 | 15118V207 | 05/28/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |             70 |                0 | FOR         |                                       70 | FOR                         |  |
| CELSIUS HOLDINGS, INC.                 | 15118V207 | 05/28/2025     | Advisory (Non-Binding) Vote Determing Frequency of Advisory Votes on Executive Compensation | SECTION 14A SAY-ON-PAY VOTES |             70 |                0 | FOR         |                                       70 | FOR                         |  |
| CHEVRON CORPORATION                    | 166764100 | 05/28/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |             33 |                0 | FOR         |                                       33 | FOR                         |  |
| CIVITAS RESOURCES, INC.                | 17888H103 | 06/04/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |            664 |                0 | FOR         |                                      664 | FOR                         |  |
| CME GROUP INC.                         | 12572Q105 | 05/08/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |             50 |                0 | FOR         |                                       50 | FOR                         |  |
| COMPASS DIVERSIFIED HOLDINGS           | 20451Q104 | 05/29/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |          60082 |                0 | FOR         |                                    60082 | FOR                         |  |
| CONOCOPHILLIPS                         | 20825C104 | 05/13/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |             12 |                0 | FOR         |                                       12 | FOR                         |  |
| CVS HEALTH CORPORATION                 | 126650100 | 05/15/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |             21 |                0 | FOR         |                                       21 | FOR                         |  |
| D.R. HORTON, INC.                      | 23331A109 | 01/16/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |              6 |                0 | FOR         |                                        6 | FOR                         |  |
| DEVON ENERGY CORPORATION               | 25179M103 | 06/04/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |              6 |                0 | FOR         |                                        6 | FOR                         |  |
| ELI LILLY AND COMPANY                  | 532457108 | 05/05/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |              2 |                0 | FOR         |                                        2 | FOR                         |  |
| ENBRIDGE INC.                          | 29250N105 | 05/07/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |            930 |                0 | FOR         |                                      930 | FOR                         |  |
| EXXON MOBIL CORPORATION                | 30231G102 | 05/28/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |              4 |                0 | FOR         |                                        4 | FOR                         |  |
| FORD MOTOR COMPANY                     | 345370860 | 05/08/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |           6200 |                0 | FOR         |                                     6200 | FOR                         |  |
| HA SUSTAINABLE INFRASTRUCTURE CAPITAL  | 41068X100 | 06/04/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |           2903 |                0 | FOR         |                                     2903 | FOR                         |  |
| HASHICORP, INC.                        | 418100103 | 07/15/2024     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |             53 |                0 | FOR         |                                       53 | FOR                         |  |
| INNOVATIVE INDUSTRIAL PROPERTIES, INC. | 45781V101 | 06/11/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |           2390 |                0 | FOR         |                                     2390 | FOR                         |  |
| INTERCONTINENTAL EXCHANGE, INC.        | 45866F104 | 05/16/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |            128 |                0 | FOR         |                                      128 | FOR                         |  |
| JEFFERIES FINANCIAL GROUP INC.         | 47233W109 | 03/27/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |            268 |                0 | FOR         |                                      268 | FOR                         |  |
| KINDER MORGAN, INC.                    | 49456B101 | 05/15/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |            387 |                0 | FOR         |                                      387 | FOR                         |  |
| KYNDRYL HOLDINGS, INC.                 | 50155Q100 | 07/25/2024     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |             30 |                0 | FOR         |                                       30 | FOR                         |  |
| MAIN STREET CAPITAL CORPORATION        | 56035L104 | 05/05/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |           1715 |                0 | FOR         |                                     1715 | FOR                         |  |
| MARATHON OIL CORPORATION               | 565849106 | 08/29/2024     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |             50 |                0 | FOR         |                                       50 | FOR                         |  |
| MEDICAL PROPERTIES TRUST, INC.         | 58463J304 | 05/29/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |            339 |                0 | FOR         |                                      339 | FOR                         |  |
| MERCK  CO., INC.                       | 58933Y105 | 05/27/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |            225 |                0 | FOR         |                                      225 | FOR                         |  |
| META PLATFORMS, INC.                   | 30303M102 | 05/28/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |             42 |                0 | FOR         |                                       42 | FOR                         |  |
| META PLATFORMS, INC.                   | 30303M102 | 05/28/2025     | Advisory (Non-Binding) Vote Determing Frequency of Advisory Votes on Executive Compensation | SECTION 14A SAY-ON-PAY VOTES |             42 |                0 | FOR         |                                       42 | FOR                         |  |
| MICRON TECHNOLOGY, INC.                | 595112103 | 01/16/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |             57 |                0 | FOR         |                                       57 | FOR                         |  |
| MICROSOFT CORPORATION                  | 594918104 | 12/10/2024     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |             76 |                0 | FOR         |                                       76 | FOR                         |  |
| NASDAQ, INC.                           | 631103108 | 06/11/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |            145 |                0 | FOR         |                                      145 | FOR                         |  |
| NETFLIX, INC.                          | 64110L106 | 06/05/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |             18 |                0 | FOR         |                                       18 | FOR                         |  |
| NEXPOINT FUNDS                         | 65340G205 | 06/10/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |          42634 |                0 | FOR         |                                    42634 | FOR                         |  |
| NEXTERA ENERGY, INC.                   | 65339F101 | 05/22/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |           1697 |                0 | FOR         |                                     1697 | FOR                         |  |
| NVIDIA CORPORATION                     | 67066G104 | 06/25/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |            389 |                0 | FOR         |                                      389 | FOR                         |  |
| OCCIDENTAL PETROLEUM CORPORATION       | 674599105 | 05/02/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |             15 |                0 | FOR         |                                       15 | FOR                         |  |
| PERELLA WEINBERG PARTNERS              | 71367G102 | 05/28/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |             20 |                0 | FOR         |                                       20 | FOR                         |  |
| PERELLA WEINBERG PARTNERS              | 71367G102 | 05/28/2025     | Advisory (Non-Binding) Vote Determing Frequency of Advisory Votes on Executive Compensation | SECTION 14A SAY-ON-PAY VOTES |             20 |                0 | FOR         |                                       20 | FOR                         |  |
| PETMED EXPRESS, INC.                   | 716382106 | 08/04/2024     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |            966 |                0 | FOR         |                                      966 | FOR                         |  |
| PINNACLE WEST CAPITAL CORPORATION      | 723484101 | 05/21/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |            100 |                0 | FOR         |                                      100 | FOR                         |  |
| PROFRAC HOLDING CORP.                  | 74319N100 | 05/28/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |            911 |                0 | FOR         |                                      911 | FOR                         |  |
| QUEST DIAGNOSTICS INCORPORATED         | 74834L100 | 05/15/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |              1 |                0 | FOR         |                                        1 | FOR                         |  |
| REALTY INCOME CORPORATION              | 756109104 | 05/13/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |            537 |                0 | FOR         |                                      537 | FOR                         |  |
| RIOT PLATFORMS, INC.                   | 767292105 | 06/10/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |            712 |                0 | FOR         |                                      712 | FOR                         |  |
| RIOT PLATFORMS, INC.                   | 767292105 | 06/10/2025     | Advisory (Non-Binding) Vote Determing Frequency of Advisory Votes on Executive Compensation | SECTION 14A SAY-ON-PAY VOTES |            712 |                0 | FOR         |                                      712 | FOR                         |  |
| RITHM CAPITAL CORP.                    | 64828T201 | 05/22/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |          28313 |                0 | FOR         |                                    28313 | FOR                         |  |
| SIMON PROPERTY GROUP, INC.             | 828806109 | 05/14/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |              3 |                0 | FOR         |                                        3 | FOR                         |  |
| SOFI TECHNOLOGIES, INC.                | 83406F102 | 05/28/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |            300 |                0 | FOR         |                                      300 | FOR                         |  |
| SOLVENTUM CORPORATION                  | 83444M101 | 04/30/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |             64 |                0 | FOR         |                                       64 | FOR                         |  |
| SURO CAPITAL CORP.                     | 86887Q109 | 05/28/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |          46452 |                0 | FOR         |                                    46452 | FOR                         |  |
| SURO CAPITAL CORP.                     | 86887Q109 | 05/28/2025     | Advisory (Non-Binding) Vote Determing Frequency of Advisory Votes on Executive Compensation | SECTION 14A SAY-ON-PAY VOTES |          46452 |                0 | FOR         |                                    46452 | FOR                         |  |
| THE CARLYLE GROUP INC.                 | 14316J108 | 05/29/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |           3608 |                0 | FOR         |                                     3608 | FOR                         |  |
| THE KRAFT HEINZ COMPANY                | 500754106 | 05/08/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |            550 |                0 | FOR         |                                      550 | FOR                         |  |
| THE RMR GROUP INC.                     | 74967R106 | 03/27/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |              6 |                0 | FOR         |                                        6 | FOR                         |  |
| UBER TECHNOLOGIES, INC.                | 90353T100 | 05/05/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |            148 |                0 | FOR         |                                      148 | FOR                         |  |
| VERIZON COMMUNICATIONS INC.            | 92343V104 | 05/22/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |           2277 |                0 | FOR         |                                     2277 | FOR                         |  |
| VICI PROPERTIES INC.                   | 925652109 | 04/29/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |          33252 |                0 | FOR         |                                    33252 | FOR                         |  |
| VICTORY CAPITAL HOLDINGS, INC.         | 92645B103 | 05/07/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |           2406 |                0 | FOR         |                                     2406 | FOR                         |  |
| W. P. CAREY INC.                       | 92936U109 | 06/12/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |             31 |                0 | FOR         |                                       31 | FOR                         |  |
| WARNER BROS. DISCOVERY, INC.           | 934423104 | 06/02/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |            752 |                0 | FOR         |                                      752 | FOR                         |  |
| WISDOMTREE, INC.                       | 97717P104 | 06/17/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |           2821 |                0 | FOR         |                                     2821 | FOR                         |  |
| XEROX HOLDINGS CORPORATION             | 98421M106 | 05/21/2025     | Advisory Non-Binding Vote On Executive Compensation                                         | SECTION 14A SAY-ON-PAY VOTES |             17 |                0 | FOR         |                                       17 | FOR                         |  |

## N-PX: Signature Block

**Reporting Person:** SMH CAPITAL ADVISORS INC

**By (Signature):** Lisa Haley

**By (Printed Signature):** Lisa Haley

**By (Title):** Vice President, Portfolio Manager

**Date:** 08/29/2025