SMID · Smith Midland Corp · Holdings

$21.43 +0.17 (+0.80%)

Russell 2000 member Rebalance outlook locked

Customer concentration — top customer 10% of revenue

One customer — 10% of revenue (the six months ended June 30, 2026)

“For the six months ended June 30, 2026, the Company derived 10% of its revenue from one customer.”

2 customers — 24% of revenue (the six months ended June 30, 2025)

“For the six months ended June 30, 2025, the Company derived 24% and 10% of its revenue from two customers respectively.”

2 customers — 16% of revenue (the three months ended June 30, 2025)

“For the three months ended June 30, 2025, the Company derived 16% and 10% of its revenue from two customers respectively.”

One customer — 10% of revenue (the six months ended June 30, 2025)

“For the six months ended June 30, 2025, the Company derived 24% and 10% of its revenue from two customers respectively.”

One customer — 10% of revenue (the three months ended June 30, 2025)

“For the three months ended June 30, 2025, the Company derived 16% and 10% of its revenue from two customers respectively.”

One customer — 17% of receivables (As of June 30, 2026)

“As of June 30, 2026, one customer’s outstanding receivable balance exceeded 17% of the total outstanding receivable balance.”

3 customers — 10% of receivables (As of June 30, 2025)

“As of June 30, 2025, three customers’ outstanding receivable balance exceeded 10% of the total outstanding receivable balance.”

View the 10-Q filed Aug 14, 2026

Market Cap

$114.05M

5.30M

Volume · Oct 28 5340 Avg daily vol (3M) 13.22K

Institutional ownership from SEC Form 13F filings. Investment managers with more than $100 million in U.S. equities must disclose their positions every quarter, within 45 days of quarter-end, so the holdings shown can lag the market by up to a quarter.

Use institutional holdings through the 13F API or MCP → See every holder of SMID: 13F, 13D and 13G, insiders and funds →

The Sep 30, 2026 filing window is still open — showing the latest known positions. Funds that have not filed yet carry their prior-quarter positions; a fund that filed without this stock counts as sold out. Each fund's Change is measured against its own previous reported quarter, shown in the Reported column. Pick a completed quarter in the Quarter selector below to put every fund on one quarter and see the stock-wide activity breakdown.

Quarter:

Holders: 58

Total Value: $88,149,020

Total Shares: 3,043,920

Institutional Ownership Trend

27 quarters

Holder Concentration

Across 55 13F filers

Top Holder

60.3%

of institutional value

Top 5

81.8%

of institutional value

Top 10

91.8%

of institutional value

HHI

3,791

Highly concentrated

Who Holds SMID

Last 8 quarters through Sep 30, 2026 (filing window open)

Each kind of 13F filer's share of the common shares 13F filers report. Holder type comes from regulatory records, never the filer's name; style, turnover and horizon are measured from each filer's own 13F book. The quarter selector does not change this card.

Jun 30, 2026, the newest closed quarter: 54 filers, like-for-like change -1.0%; actively managed books -1.6%; index-like books +1.5%.

Holder type	Share	Filers	Change	New	Exited
Registered adviser	83.1%	21	-3.3%	3	5
Adviser	0.7%	1	+122.3%	1	1
Bank	3.2%	9	+0.5%	0	0
Benefit plan	0.0%	1	-73.6%	0	0
Non-US	0.1%	2	-1.3%	0	0
Holding company	7.6%	5	+25.3%	0	0
Exempt adviser	0.0%	0	—	0	0
Insurer	0.0%	0	—	0	0
Unknown	5.3%	15	-2.5%	1	1

Style	Share	Filers	Change	New	Exited
Index-like	19.0%	15	+1.5%	0	0
Concentrated	61.0%	5	+0.1%	2	2
Diversified active	20.0%	34	-5.6%	3	4
Systematic-like	0.0%	0	-100.0%	0	1
Not measured	0.0%	0	—	0	0
Unknown	0.0%	0	—	0	0

Turnover	Share	Filers	Change	New	Exited
Low turnover	89.9%	38	+0.3%	3	4
Medium turnover	3.9%	10	+10.5%	2	1
High turnover	0.0%	2	-95.7%	0	2
Unknown	6.2%	4	-16.7%	0	0
Not measured	0.0%	0	—	0	0

Holding horizon	Share	Filers	Change	New	Exited
Short horizon	6.2%	4	-16.7%	0	0
Medium horizon	7.2%	9	+33.7%	2	0
Long horizon	86.5%	41	-1.8%	3	7
Not measured	0.0%	0	—	0	0
Unknown	0.0%	0	—	0	0

13F book size	Share	Filers	Change	New	Exited
Under $1B	63.7%	6	+0.1%	1	1
$1B to $10B	13.4%	12	+0.6%	1	0
$10B to $100B	0.7%	9	-67.3%	2	4
$100B or more	22.2%	27	+1.4%	1	2
Not measured	0.0%	0	—	0	0

Client base	Share	Filers	Change	New	Exited
Individuals and high net worth	63.4%	8	-2.7%	3	3
Pooled investment vehicles	0.1%	1	-76.1%	0	1
Registered funds and BDCs	17.5%	6	-4.7%	0	0
Insurance companies	0.0%	1	0.0%	0	0
Governments and sovereign funds	0.1%	1	-48.9%	0	0
Other investment advisers	0.0%	1	-18.4%	0	0
Diversified	2.0%	3	+4.5%	0	0
Pension and profit sharing plans	0.0%	0	-100.0%	0	1
Unknown	16.9%	33	+11.6%	2	2

Private funds	Share	Filers	Change	New	Exited
Hedge funds	70.6%	4	-1.1%	0	2
Private equity funds	0.0%	0	—	0	0
Venture capital funds	0.0%	1	new	1	0
Other private funds	2.1%	3	+6.8%	0	0
No private funds	10.4%	12	-16.9%	1	2
Real estate funds	0.0%	1	+900.0%	1	1
Private funds, type not stated	0.0%	0	—	0	0
Securitized asset funds	0.0%	0	—	0	0
Unknown	16.9%	33	+11.6%	2	2

Location	Share	Filers	Change	New	Exited
United States	99.6%	47	-1.0%	5	7
Outside the US	0.4%	7	-0.4%	0	0

The Sep 30, 2026 filing window is still open, so its bar carries the Jun 30, 2026 positions of filers that have not filed yet.

How the mix is measured

Shares are 13F common shares restated to today's split basis; options and principal amounts are left out. The change compares only filers with a 13F in both quarters and keeps each filer in its bucket of the later quarter on both sides; a filer that continues under a new CIK is compared through its successor. Holder type comes from each filer's current regulatory profile; client base and private funds come from the Form ADV roster current at each quarter end (rosters from December 2019, so an earlier quarter reads Unknown). Style, turnover, horizon and book size are measured from each filer's 13F book in the newest measured quarter, and Not measured means none was. Actively managed books are those measured systematic-like, concentrated or diversified active.

Excluded 1 holder with no observed 2026-06-30 13F.

Conviction and Crowding

54 13F filers, quarter ended Jun 30, 2026

Measured across every 13F filer's common-share book once the quarter's filing window closed. Crowding counts filers with high turnover or that advise private funds on Form ADV.

Conviction holders

1.85% of filers hold it in their top 10

Mar 31, 2026: 1

Holders above 5%

median weight 0.000%

Mar 31, 2026: 1

Crowding

41.4%

of shares outstanding, 93rd percentile

Mar 31, 2026: 42.0%

Private-fund advisers

41.4%

of shares outstanding

Institutional ownership

57.0%

66.0% of the estimated free float

Top 10 holders

91.8%

of 13F shares, Herfindahl 0.379

Active holders

-1.6%

like-for-like share change of active filers

5% stakes on record

1 13D, 1 13G (0 institutional, 1 passive, 0 exempt)

How long holders have held it value-weighted 17.4 quarters

Under 1 year 6.91% 1 to 3 years 9.55% 3 years or more 83.5% Since coverage start 0.000%

Managers in the top fifth by current three-year FundScore alpha were net buyers of $622,657 (1 buying, 0 selling).

Estimated Holder Cost Basis

Quarter ended Jun 30, 2026, on that quarter's share basis

Estimated, never filed: each 13F buy is costed at its quarter's average traded price and each sale keeps the average cost, so this is what holders paid on average if they traded evenly through each quarter.

Estimated avg cost

$24.95

estimated per share

Mar 31, 2026: $24.59

Quarter-end price

$29.00

implied by 13F values

Estimated gain or loss

+16.2%

price against the estimated cost

Estimated at a loss

52.0%

of costed 13F value

Estimated cost covers 33.3% of the 13F shares; positions already held when a filer's 13F history starts, or bought in a quarter without a trusted average price, have no estimate.

Shared Holders

Companies SMID's active holders also own, quarter ended Jun 30, 2026

#	Company	Shared holders	Similarity
1	RSSS Research Solutions, Inc.	3	0.530

Shareholder Targets

13F filers that own its peers but not SMID, quarter ended Jun 30, 2026

Found through its holder-overlap peers: RSSS. 17 filers in all.

#	Filer	In peers	Of book	Largest peers
1	PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. Registered adviser, Diversified active	$5,921,695 1 held	0.300%	RSSS
2	Luxor Capital Group, LP Registered adviser, Concentrated	$1,512,544 1 held	0.170%	RSSS
3	PARTHENON LLC Registered adviser, Diversified active	$910,098 1 held	0.090%	RSSS
4	Dynamic Advisor Solutions LLC Unknown, Diversified active	$848,189 1 held	0.020%	RSSS
5	North Star Investment Management Corp. Adviser, Diversified active	$828,240 1 held	0.050%	RSSS
6	Navalign, LLC Registered adviser, Concentrated	$455,012 1 held	0.110%	RSSS
7	LPL Financial LLC Broker-dealer, Diversified active	$339,432 1 held	0.000%	RSSS
8	RENAISSANCE TECHNOLOGIES LLC Registered adviser, Diversified active	$245,896 1 held	0.000%	RSSS
9	4Thought Financial Group Inc. Unknown, Concentrated	$193,501 1 held	0.090%	RSSS
10	Integrated Quantitative Investments LLC Registered adviser, Diversified active	$168,200 1 held	0.030%	RSSS

Fund Ownership of SMID by Fund Type

Registered funds' Form N-PORT reports for the quarter ended Jun 30, 2026

Index funds and index ETFs hold 7.00% of shares outstanding.

Fund type	Of shares outstanding	Change	Shares	Funds
Index funds	1.87%	+0.07 pp	98,939	36
Index ETFs	5.14%	-0.72 pp	272,533	17
Active ETFs	0.25%	+0.10 pp	13,307	6
Active funds	5.22%	+0.14 pp	277,138	24
Unclassified	0.00%	0.00 pp	10	2
All registered funds	12.48%	-0.42 pp	661,927	85

How fund types are measured

Each fund series counts once, with its latest Form N-PORT report dated inside the quarter; only long share positions count, restated to today's split basis. The fund type is the series' latest Form N-CEN answer on or before the quarter end (the index-fund box and the exchange-traded flag), never its name. Unclassified funds have no usable N-CEN; unit investment trusts are among them, so index ownership is a floor. Funds sit inside their advisers' 13F reports, so these shares overlap the 13F figures and are never added to them.

Holder type: Registered adviser 24 Adviser 1 Bank 9 Benefit plan 1 Non-US 2 Holding company 5 Unknown 16

Showing 58 of 58

All Common Calls Puts

Compact Export CSV

Holder

Value (USD)

% of 13F

THOMPSON DAVIS & CO., INC.

$52,899,451

60.01%

1,824,119

NEEDHAM INVESTMENT MANAGEMENT LLC

$6,525,000

7.40%

225,000

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Needham Aggressive Growth Fund	225,000	$6,525,000	100.0%	Defined

BlackRock, Inc.

$5,696,673

6.46%

196,437

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
BLACKROCK FINANCIAL MANAGEMENT INC/DE	1,242	$36,018	0.6%	Sole
BlackRock Investment Management, LLC	7,044	$204,276	3.6%	Sole
BLACKROCK ADVISORS LLC	5,327	$154,483	2.7%	Sole
BlackRock Fund Advisors	109,606	$3,178,574	55.8%	Sole
BlackRock Institutional Trust Company, N.A.	42,376	$1,228,904	21.6%	Sole
BlackRock Japan Co. Ltd	30,842	$894,418	15.7%	Sole

VANGUARD CAPITAL MANAGEMENT LLC

$3,982,628

4.52%

137,332

GEODE CAPITAL MANAGEMENT, LLC

$2,602,518

2.95%

89,742

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
GEODE CAPITAL MANAGEMENT TRUST COMPANY, LLC	14,795	$429,055	16.5%	Defined
Held directly	74,947	$2,173,463	83.5%	Defined

BARD ASSOCIATES INC

$2,316,375

2.63%

79,875

RBF Capital, LLC

$2,151,800

2.44%

74,200

RICE HALL JAMES & ASSOCIATES, LLC

$1,565,391

1.78%

53,979

DIMENSIONAL FUND ADVISORS LP

$1,466,095

1.66%

50,555

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Dimensional Fund Advisors Ltd.	731	$21,199	1.4%	Defined
DFA Australia Ltd.	1,113	$32,277	2.2%	Defined
Dimensional Ireland Ltd	5,866	$170,114	11.6%	Defined
Held directly	42,845	$1,242,505	84.7%	Sole

STATE STREET CORP

$1,325,677

1.50%

45,713

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
STATE STREET GLOBAL ADVISORS EUROPE LIMITED joint	45,713	$1,325,677	100.0%	Defined

HERITAGE INVESTORS MANAGEMENT CORP

$1,109,772

1.26%

38,268

VANGUARD FIDUCIARY TRUST CO

$871,276

0.99%

30,044

NORTHERN TRUST CORP

$749,476

0.85%

25,844

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
NORTHERN TRUST CO joint	25,425	$737,325	98.4%	Defined
DWS INVESTMENT MANAGEMENT AMERICAS, INC joint	419	$12,151	1.6%	Other

MORGAN STANLEY

$663,607

0.75%

22,883

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
MORGAN STANLEY & CO INTERNATIONAL PLC	4	$116	0.0%	Defined
MORGAN STANLEY & CO. LLC	857	$24,853	3.7%	Defined
MORGAN STANLEY CAPITAL SERVICES, LLC	1,487	$43,123	6.5%	Defined
MORGAN STANLEY SMITH BARNEY LLC	20,298	$588,642	88.7%	Defined
PARAMETRIC PORTFOLIO ASSOCIATES LLC	237	$6,873	1.0%	Defined

Topline Capital Management, LLC

$580,348

0.66%

20,012

VANGUARD PORTFOLIO MANAGEMENT LLC

$561,817

0.64%

19,373

INTRUST BANK NA

$350,842

0.40%

12,098

Bank of New York Mellon Corp

$325,438

0.37%

11,222

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Mellon Investments Corporation	6,806	$197,374	60.6%	Defined
The Bank of New York Mellon	4,415	$128,035	39.3%	Defined
Held directly	1	$29	0.0%	Defined

Waverly Advisors, LLC

$290,116

0.33%

10,004

GOLDMAN SACHS GROUP INC

$258,158

0.29%

8,902

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
GOLDMAN SACHS ASSET MANAGEMENT, L.P.	8,902	$258,158	100.0%	Defined

CHARLES SCHWAB INVESTMENT MANAGEMENT INC

$253,054

0.29%

8,726

Advanced Asset Management Advisors Inc

$228,000

0.26%

10,000

Womack Financial LLC

$216,645

0.25%

9,502

LOS ANGELES CAPITAL MANAGEMENT LLC

$205,465

0.23%

7,085

UBS Group AG

$190,878

0.22%

6,582

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
UBS Financial Services Inc	438	$12,702	6.7%	Defined
UBS AG	5,834	$169,186	88.6%	Defined
UBS Securities LLC	310	$8,990	4.7%	Defined

CALDWELL SUTTER CAPITAL, INC.

$94,888

0.11%

3,272

WELLS FARGO & COMPANY/MN

$75,835

0.09%

2,615

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
WELLS FARGO BANK N A	2,557	$74,153	97.8%	Defined
WELLS FARGO CLEARING SERVICES, LLC	57	$1,653	2.2%	Defined
Wells Fargo Securities, LLC	1	$29	0.0%	Defined

JPMORGAN CHASE & CO

$62,698

0.07%

2,162

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
JPMorgan Chase Bank, N.A.	1,162	$33,698	53.7%	Defined
J.P. Morgan Securities LLC	1,000	$29,000	46.3%	Defined

NEW YORK STATE COMMON RETIREMENT FUND

$62,669

0.07%

2,161

DEUTSCHE BANK AG\

$58,319

0.07%

2,011

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
DWS INVESTMENT MANAGEMENT AMERICAS, INC	37	$1,073	1.8%	Defined
DWS Investments UK Ltd	1,974	$57,246	98.2%	Defined

Vanguard Global Advisers, LLC

$57,855

0.07%

1,995

RHUMBLINE ADVISERS

$56,347

0.06%

1,943

ROYAL BANK OF CANADA

$50,982

0.06%

1,758

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
RBC CMA LTD.	96	$2,784	5.5%	Defined
RBC Capital Markets, LLC	1,162	$33,698	66.1%	Defined
RBC Rochdale, LLC	500	$14,500	28.4%	Defined

BNP PARIBAS ARBITRAGE, SA

$39,933

0.05%

1,377

CITIGROUP INC

$38,135

0.04%

1,315

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Citigroup Financial Products Inc. joint	1,315	$38,135	100.0%	Defined

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

$37,439

0.04%

1,291

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Global X Management CO LLC joint	1,291	$37,439	100.0%	Defined

Police & Firemen's Retirement System of New Jersey

$30,160

0.03%

1,040

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Mellon Capital	1,040	$30,160	100.0%	Defined

Russell Investments Group, Ltd.

$27,057

0.03%

933

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Russell Investment Management, LLC	933	$27,057	100.0%	Defined

Tower Research Capital LLC (TRC)

$16,153

0.02%

557

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Latour Trading LLC (Latour)	557	$16,153	100.0%	Defined

BARCLAYS PLC

$11,774

0.01%

406

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
BARCLAYS BANK PLC	371	$10,759	91.4%	Defined
BARCLAYS CAPITAL INC.	35	$1,015	8.6%	Defined

ADIRONDACK TRUST CO

$7,524

0.01%

330

Legal & General Group Plc

$7,250

0.01%

250

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Legal & General Investment Management America Inc	250	$7,250	100.0%	Defined

Ameritas Investment Partners, Inc.

$6,612

0.01%

228

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
EATON VANCE MANAGEMENT	228	$6,612	100.0%	Other

INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC

$5,800

0.01%

200

GAMMA Investing LLC

$3,397

0.00%

149

OSAIC HOLDINGS, INC.

$3,132

0.00%

108

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
OSAIC WEALTH, INC.	100	$2,900	92.6%	Defined
Osaic Advisory Services, LLC	8	$232	7.4%	Defined

Sterling Capital Management LLC

$2,097

0.00%

NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO

$1,914

0.00%

FMR LLC

$1,450

0.00%

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Fidelity Management & Research Co LLC	39	$1,131	78.0%	Defined
STRATEGIC ADVISERS LLC	11	$319	22.0%	Defined

CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM

$1,131

0.00%

Optiver Holding B.V.

$870

0.00%

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Optiver VOF	30	$870	100.0%	Defined

Farther Finance Advisors, LLC

$638

0.00%

Arax Advisory Partners

$290

0.00%

Root Financial Partners, LLC

$68

0.00%

Essential Partners LLC

$45

0.00%

Allworth Financial LP

$29

0.00%

ROTHSCHILD INVESTMENT LLC

$29

0.00%

NewEdge Advisors, LLC

0.00%

Key facts CIK 924719 CUSIP 832156103 13F (30d) 8 filings 8 filers Visit website Investor relations