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SMH

Sanders Morris Harris Portfolio holdings

AUM $172M
1-Year Est. Return 22.54%
This Fund
S&P 500
This Quarter Est. Return
-0.06%
1 Year Est. Return
+22.54%
3 Year Est. Return
+83.06%
5 Year Est. Return
+84.26%
10 Year Est. Return
+262.54%
AUM
$64.7M
AUM Growth
-$693M
Cap. Flow
-$696M
Cap. Flow %
-1,075.04%
Top 10 Hldgs %
85.43%
Holding
312
New
5
Increased
1
Reduced
12
Closed
277

Top Buys

Rank Stock Value
1
BABA icon
Alibaba
BABA
+$3.12M
2
SOLT
2x Solana ETF
SOLT
+$1.55M
3
GDX icon
VanEck Gold Miners ETF
GDX
+$750K
4
AKRE
Akre Focus ETF
AKRE
+$348K
5
NVT icon
nVent Electric
NVT
+$208K

Top Sells

Rank Stock Value
1
QQQ icon
Invesco QQQ Trust
QQQ
+$119M
2
BX icon
Blackstone
BX
+$91.1M
3
NVDA icon
NVIDIA
NVDA
+$34.9M
4
CSWC icon
Capital Southwest
CSWC
+$29.9M
5
AAPL icon
Apple
AAPL
+$29M

Sector Composition

Rank Sector Weight
1 Materials 12.17%
2 Energy 5.29%
3 Consumer Discretionary 4.47%
4 Consumer Staples 4.36%
5 Technology 3.43%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
QQQ icon
1
Invesco QQQ Trust
QQQ
$455B
$37.4M 57.74%
59,900
-194,738
-76% -$119M
VOXR
2
Vox Royalty Corp
VOXR
$301M
$7.13M 11.02%
1,400,903
– –
BABA icon
3
Alibaba
BABA
$269B
$2.89M 4.47%
+19,170
New +$3.12M
JBS
4
JBS N.V.
JBS
$40.4B
$2.52M 3.9%
173,200
-21,625
-11% -$297K
SLB icon
5
SLB Ltd
SLB
$78.4B
$1.45M 2.25%
38,500
-292,050
-88% -$10.6M
GDX icon
6
VanEck Gold Miners ETF
GDX
$23B
$867K 1.34%
+9,500
New +$750K
VNET
7
VNET Group
VNET
$2.05B
$826K 1.28%
95,000
-37,000
-28% -$343K
SOLT
8
2x Solana ETF
SOLT
$113M
$745K 1.15%
+6,000
New +$1.55M
LIN icon
9
Linde
LIN
$237B
$743K 1.15%
1,750
– –
KYN icon
10
Kayne Anderson Energy Infrastructure Fund
KYN
$2.52B
$740K 1.14%
61,200
– –
MSAI icon
11
MultiSensor AI
MSAI
$9.77M
$668K 1.03%
38,803
-42,167
-52% -$1.23M
MDY icon
12
State Street SPDR S&P MIDCAP 400 ETF Trust
MDY
$27B
$615K 0.95%
1,000
– –
EXE
13
Expand Energy Corp
EXE
$21.9B
$608K 0.94%
5,555
– –
JEPI icon
14
JPMorgan Equity Premium Income ETF
JEPI
$45.3B
$584K 0.9%
10,072
-3,622
-26% -$207K
IBIT icon
15
iShares Bitcoin Trust
IBIT
$47.2B
$582K 0.9%
11,726
-10,006
-46% -$568K
ETN icon
16
Eaton
ETN
$157B
$580K 0.9%
1,800
– –
CNQ icon
17
Canadian Natural Resources
CNQ
$96.9B
$512K 0.79%
15,600
– –
IAU icon
18
iShares Gold Trust
IAU
$63B
$469K 0.73%
5,498
– –
SPY icon
19
State Street SPDR S&P 500 ETF Trust
SPY
$778B
$413K 0.64%
599
-38,806
-98% -$26.2M
PAC icon
20
Grupo Aeroportuario del Pacifico
PAC
$12.9B
$409K 0.63%
1,500
– –
ARM icon
21
Arm
ARM
$278B
$404K 0.62%
3,667
+1,250
+52% +$182K
OMAB icon
22
Grupo Aeroportuario Centro Norte
OMAB
$4.99B
$395K 0.61%
3,500
– –
VGLT icon
23
Vanguard Long-Term Treasury ETF
VGLT
$10.1B
$387K 0.6%
6,900
– –
AKRE
24
Akre Focus ETF
AKRE
$5.14B
$357K 0.55%
+5,372
New +$348K
FLEX icon
25
Flex
FLEX
$43.4B
$323K 0.5%
5,100
– –
1
2 3 4 5

Similar funds

GWCM
Godshalk Welsh Capital Management Radnor, Pennsylvania $172M AUM 16.03% 1-Year Est. Return
PWM
Peterson Wealth Management Sparks, Nevada $172M AUM 22.85% 1-Year Est. Return
TA
Tiptree Advisors New York $172M AUM 86.65% 1-Year Est. Return
CRFG
Columbia River Financial Group Vancouver, Washington $172M AUM 13.74% 1-Year Est. Return
PSC
Prentiss Smith & Co Brattleboro, Vermont $172M AUM 21.18% 1-Year Est. Return
BAM
Bullseye Asset Management Denver, Colorado $173M AUM 9.48% 1-Year Est. Return
RPSM
Royalty Pharma Sub-Manager New York $173M AUM
BIA
Benchmark Investment Advisors Chicago, Illinois $172M AUM

Sanders Morris Harris's Q4 2025 Portfolio in Review

As of Q4 2025, Sanders Morris Harris held 312 positions worth $64.7M, down 91% from $758M the previous quarter. Its ten largest holdings account for 85% of the portfolio.

Sanders Morris Harris withdrew a net $696M in Q4 2025, closing 277 positions and reducing 12 holdings. Its most notable exit was Blackstone, an estimated $91.1M position sold in full.

By sector, the portfolio is most concentrated in Materials at 12% of assets, up from 1.5% a quarter earlier, followed by Energy and Consumer Discretionary.

Against the trend, Sanders Morris Harris opened a new position in Alibaba worth $2.89M.

  • Sanders Morris Harris's largest Q4 2025 buy was Alibaba: 19,170 shares worth $2.89M.
  • Sanders Morris Harris added most to Arm in Q4 2025, an estimated $182K increase.
  • Sanders Morris Harris's biggest Q4 2025 reduction was Invesco QQQ Trust, cutting an estimated $119M.
  • Sanders Morris Harris fully exited Blackstone in Q4 2025, selling an estimated $91.1M.
  • Sanders Morris Harris's ten largest holdings make up 85% of its $64.7M portfolio in Q4 2025.
  • Sanders Morris Harris opened 5 new positions and closed 277 in Q4 2025.
  • Sanders Morris Harris's portfolio value fell 91% quarter-over-quarter to $64.7M.

Based on Sanders Morris Harris's 13F filing for Q4 2025, filed 8 Jan 2026.