# EDGAR Filing Document

**Accession Number:** 0001180391
**File Stem:** 0001085146-23-001289
**Filing Date:** 2023-2
**Character Count:** 10817
**Document Hash:** 41d3fc68f5beba75efa670171e6c7c4e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001085146-23-001289.hdr.sgml**: 20230214

**ACCESSION NUMBER**: 0001085146-23-001289

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230214

**DATE AS OF CHANGE**: 20230214

**EFFECTIVENESS DATE**: 20230214

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SMH CAPITAL ADVISORS INC
- **CENTRAL INDEX KEY:** 0001180391
- **IRS NUMBER:** 752681494
- **STATE OF INCORPORATION:** TX

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-10258
- **FILM NUMBER:** 23627994

**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 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** SMH CAPITAL ADVISORS INC<br>**Address:** 4200 S. HULEN<br>STE 534<br>FORT WORTH, TX 76109

**Form 13F File Number:** 028-10258

**CRD Number (if applicable):** 000108344

**SEC File Number (if applicable):** 801-54089

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Jenny Don Carlos<br>**Title:** Platform Program Manager<br>**Phone:** 817-569-7005

**Signature, Place, and Date of Signing:**

/s/ Jenny Don Carlos  Fort Worth, TX  02-14-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 64

**Form 13F Information Table Value Total:** $68646647

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

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|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ADAMS DIVERSIFIED EQUITY FD | COM | 006212104 | BBG001S5NDV7 | 319172 | 21951 | SH |  | SOLE |  | 0 | 0 | 21951 |
| AFC GAMMA INC | COM | 00109K105 | BBG00YPSX5R9 | 408980 | 26000 | SH |  | SOLE |  | 0 | 0 | 26000 |
| ALLIANCEBERNSTEIN GLOBAL HIG | COM | 01879R106 | BBG001S6LJ53 | 348319 | 37779 | SH |  | SOLE |  | 0 | 0 | 37779 |
| ALLIANCEBERNSTEIN NATL MUN I | COM | 01864U106 | BBG001SK6452 | 128313 | 12244 | SH |  | SOLE |  | 0 | 0 | 12244 |
| AMERICOLD REALTY TRUST INC | COM | 03064D108 | BBG001SMQ866 | 507032 | 17910 | SH |  | SOLE |  | 0 | 0 | 17910 |
| APOLLO GLOBAL MGMT INC | COM | 03769M106 | BBG00ZNLTFL2 | 924544 | 14494 | SH |  | SOLE |  | 0 | 0 | 14494 |
| AT INC | COM | 00206R102 | BBG001S5VWH2 | 584900 | 31771 | SH |  | SOLE |  | 0 | 0 | 31771 |
| BLACKROCK CORPOR HI YLD FD I | COM | 09255P107 | BBG001SJQLG3 | 364060 | 41655 | SH |  | SOLE |  | 0 | 0 | 41655 |
| BLACKROCK CR ALLOCATION INCO | COM | 092508100 | BBG001SS72L0 | 370769 | 36710 | SH |  | SOLE |  | 0 | 0 | 36710 |
| BLACKROCK MULTI SECTOR INC T | COM | 09258A107 | BBG003P84C70 | 287713 | 20247 | SH |  | SOLE |  | 0 | 0 | 20247 |
| BLACKROCK MUNICIPAL INCOME | COM | 09253X102 | BBG001SLPP25 | 128746 | 11363 | SH |  | SOLE |  | 0 | 0 | 11363 |
| CALAMOS STRATEGIC TOTAL RETU | COM SH BEN INT | 128125101 | BBG001SC0HR3 | 328333 | 24466 | SH |  | SOLE |  | 0 | 0 | 24466 |
| CAPITAL SOUTHWEST CORP | COM | 140501107 | BBG001S5Q7P4 | 306689 | 17935 | SH |  | SOLE |  | 0 | 0 | 17935 |
| CARLYLE GROUP INC | COM | 14316J108 | BBG001S7JM84 | 204834 | 6864 | SH |  | SOLE |  | 0 | 0 | 6864 |
| CHEVRON CORP NEW | COM | 166764100 | BBG001S67ZC5 | 794405 | 4426 | SH |  | SOLE |  | 0 | 0 | 4426 |
| COHEN  STEERS LTD DURATION | COM | 19248C105 | BBG002YMSBV0 | 260649 | 13704 | SH |  | SOLE |  | 0 | 0 | 13704 |
| COHEN  STEERS QUALITY INCOM | COM | 19247L106 | BBG001SG5559 | 289810 | 25201 | SH |  | SOLE |  | 0 | 0 | 25201 |
| COMPASS DIVERSIFIED | SH BEN INT | 20451Q104 | BBG001SPY7K6 | 1479204 | 81141 | SH |  | SOLE |  | 0 | 0 | 81141 |
| DIGITALBRIDGE GROUP INC | NOTE 5.000% 4/1 | 19624RAA4 |  | 7744070 | 7862000 | SH |  | SOLE |  | 0 | 0 | 7862000 |
| EATON VANCE MUN BD FD | COM | 27827X101 | BBG001S6S949 | 136470 | 13135 | SH |  | SOLE |  | 0 | 0 | 13135 |
| EATON VANCE TAX ADVT DIV INC | COM | 27828G107 | BBG001SBKCG6 | 313289 | 13741 | SH |  | SOLE |  | 0 | 0 | 13741 |
| EXXON MOBIL CORP | COM | 30231G102 | BBG001S69V32 | 757091 | 6864 | SH |  | SOLE |  | 0 | 0 | 6864 |
| EZCORP INC | NOTE 2.375% 5/0 | 302301AE6 |  | 2005575 | 2261000 | SH |  | SOLE |  | 0 | 0 | 2261000 |
| FUBOTV INC | NOTE 3.250% 2/1 | 35953DAB0 |  | 5922271 | 12662000 | SH |  | SOLE |  | 0 | 0 | 12662000 |
| GABELLI DIVID  INCOME TR | COM | 36242H104 | BBG001SDC273 | 305037 | 14800 | SH |  | SOLE |  | 0 | 0 | 14800 |
| HANCOCK JOHN TAX-ADVANTAGED | COM | 41013V100 | BBG001S98632 | 310005 | 13561 | SH |  | SOLE |  | 0 | 0 | 13561 |
| HELLO GROUP INC | NOTE 1.250% 7/0 | 60879BAB3 |  | 12486665 | 13127000 | SH |  | SOLE |  | 0 | 0 | 13127000 |
| HP INC | COM | 40434L105 | BBG001S6W7N7 | 414535 | 15427 | SH |  | SOLE |  | 0 | 0 | 15427 |
| INNOVATIVE INDL PPTYS INC | COM | 45781V101 | BBG00F0SW7P6 | 242227 | 2390 | SH |  | SOLE |  | 0 | 0 | 2390 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 | BBG001S5S399 | 531025 | 3769 | SH |  | SOLE |  | 0 | 0 | 3769 |
| ISHARES TR | IBOXX HI YD ETF | 464288513 | BBG001ST0ZQ7 | 452825 | 6150 | SH |  | SOLE |  | 0 | 0 | 6150 |
| ISHARES TR | ISHS 1-5YR INVS | 464288646 | BBG001SSD858 | 587319 | 11789 | SH |  | SOLE |  | 0 | 0 | 11789 |
| ISHARES TR | TIPS BD ETF | 464287176 | BBG001SD9RM5 | 552774 | 5193 | SH |  | SOLE |  | 0 | 0 | 5193 |
| JEFFERIES FINL GROUP INC | COM | 47233W109 | BBG001S5SX02 | 280222 | 8175 | SH |  | SOLE |  | 0 | 0 | 8175 |
| JPMORGAN CHASE  CO | COM | 46625H100 | BBG001S8CRC3 | 210804 | 1572 | SH |  | SOLE |  | 0 | 0 | 1572 |
| KINDER MORGAN INC DEL | COM | 49456B101 | BBG001TG2YZ5 | 182879 | 10115 | SH |  | SOLE |  | 0 | 0 | 10115 |
| KRAFT HEINZ CO | COM | 500754106 | BBG005CPNTR1 | 437119 | 10737 | SH |  | SOLE |  | 0 | 0 | 10737 |
| MEDICAL PPTYS TRUST INC | COM | 58463J304 | BBG001S7WM61 | 201044 | 18047 | SH |  | SOLE |  | 0 | 0 | 18047 |
| MERCK  CO INC | COM | 58933Y105 | BBG001S5TC52 | 281559 | 2538 | SH |  | SOLE |  | 0 | 0 | 2538 |
| NEXPOINT DIVERSIFIED REL ET | COM NEW | 65340G205 | BBG001SQLM25 | 713732 | 63669 | SH |  | SOLE |  | 0 | 0 | 63669 |
| NIO INC | NOTE 0.500% 2/0 | 62914VAF3 |  | 10787962 | 14407000 | SH |  | SOLE |  | 0 | 0 | 14407000 |
| NUVEEN AMT FREE QLTY MUN INC | COM | 670657105 | BBG001SKQWJ3 | 133592 | 11749 | SH |  | SOLE |  | 0 | 0 | 11749 |
| NUVEEN PENNSYLVANIA QLT MUN | COM | 670972108 | BBG001S6PT66 | 133078 | 11957 | SH |  | SOLE |  | 0 | 0 | 11957 |
| NUVEEN QUALITY MUNCP INCOME | COM | 67066V101 | BBG001SCTFM1 | 135745 | 11504 | SH |  | SOLE |  | 0 | 0 | 11504 |
| OAKTREE SPECIALTY LENDING CO | COM | 67401P108 | BBG001SR03L7 | 303875 | 44232 | SH |  | SOLE |  | 0 | 0 | 44232 |
| ORION OFFICE REIT INC | COM | 68629Y103 | BBG0118JXCF7 | 366024 | 42860 | SH |  | SOLE |  | 0 | 0 | 42860 |
| PERELLA WEINBERG PARTNERS | CLASS A COM | 71367G102 | BBG00XWZGGJ1 | 256407 | 26164 | SH |  | SOLE |  | 0 | 0 | 26164 |
| PETMED EXPRESS INC | COM | 716382106 | BBG001S6TKF1 | 203925 | 11521 | SH |  | SOLE |  | 0 | 0 | 11521 |
| PITNEY BOWES INC | COM | 724479100 | BBG001S5V171 | 179185 | 47154 | SH |  | SOLE |  | 0 | 0 | 47154 |
| PROSPECT CAP CORP | COM | 74348T102 | BBG001SM4WF7 | 702090 | 100442 | SH |  | SOLE |  | 0 | 0 | 100442 |
| QUEST DIAGNOSTICS INC | COM | 74834L100 | BBG001S9GX43 | 259534 | 1659 | SH |  | SOLE |  | 0 | 0 | 1659 |
| SCULPTOR CAP MGMT | COM CL A | 811246107 | BBG001SKL5N2 | 628792 | 72609 | SH |  | SOLE |  | 0 | 0 | 72609 |
| SLR INVESTMENT CORP | COM | 83413U100 | BBG001T1Q8N2 | 155096 | 11150 | SH |  | SOLE |  | 0 | 0 | 11150 |
| STANDARD BIOTOOLS INC | NOTE 2.750% 2/0 | 34385PAA6 |  | 26317 | 28000 | SH |  | SOLE |  | 0 | 0 | 28000 |
| STORE CAP CORP | COM | 862121100 | BBG00265T6X6 | 242761 | 7572 | SH |  | SOLE |  | 0 | 0 | 7572 |
| TEMPLETON EMERGING MKTS INCO | COM | 880192109 | BBG001S5WMJ1 | 230378 | 41963 | SH |  | SOLE |  | 0 | 0 | 41963 |
| U S GLOBAL INVS INC | CL A | 902952100 | BBG001S5QZ09 | 403457 | 139604 | SH |  | SOLE |  | 0 | 0 | 139604 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 | BBG001S67QY1 | 392436 | 9960 | SH |  | SOLE |  | 0 | 0 | 9960 |
| VICTORY CAP HLDGS INC | COM CL A | 92645B103 | BBG0074JPDP5 | 270670 | 10088 | SH |  | SOLE |  | 0 | 0 | 10088 |
| VIRTUS EQUITY  CONV INCM FD | COM | 92841M101 | BBG001SHZGR6 | 343343 | 18834 | SH |  | SOLE |  | 0 | 0 | 18834 |
| WALMART INC | COM | 931142103 | BBG001S5XH92 | 249697 | 1761 | SH |  | SOLE |  | 0 | 0 | 1761 |
| WARNER BROS DISCOVERY INC | COM SER A | 934423104 | BBG011386VG3 | 113066 | 11927 | SH |  | SOLE |  | 0 | 0 | 11927 |
| WISDOMTREE INC | COM | 97717P104 | BBG001SD2W32 | 189385 | 34750 | SH |  | SOLE |  | 0 | 0 | 34750 |
| WISDOMTREE INC | NOTE 3.250% 6/1 | 97717PAD6 |  | 8834823 | 9546000 | SH |  | SOLE |  | 0 | 0 | 9546000 |

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