Smith-Midland Corporation

SMID • NASDAQ

Smith-Midland Corporation is a construction materials company in the basic materials sector on NASDAQ, led by Ashley B. Smith. As of Q3 2025, 52 institutional investors hold shares in this company, with total holdings valued at $112.3M. THOMPSON DAVIS & CO., INC. is the largest holder with a position valued at $67.6M.

Chief Executive Officer and PresidentAshley B. Smith

Construction Materials

Basic Materials

Employees232.0

Websitesmithmidland.com

Country

United States of America

Overview

Overview of institutional ownership in SMID as of Q3 2025

All Institutions

Institutions: 52
Value Held: $112.3M
Shares Held: 3.0M
Avg Position: $2.2M
Median Position: $185.0K

Hedge Funds

Hedge Funds: 2
Value Held: $8.7M
Shares Held: 234.9K
Avg Position: $4.3M
Median Position: $4.3M

Biggest Investors

Institutions with the largest positions in SMID as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
T THOMPSON DAVIS & CO., INC. Institution	-	$67.6M 41.75% of portfolio	0.00% 1.8M shares	Q4 2022 Held for 2y 11m	$162.0M
VANGUARD GROUP INC Institution	Salim Ramji CEO	$8.3M 0.00% of portfolio	0.00% 224.3K shares	Q2 2024 Held for 1y 5m	$6.69T
NEEDHAM INVESTMENT MANAGEMENT LLC Hedge Fund•Long/Short	George Austin Needham CEO	$8.2M 0.57% of portfolio	0.00% 223.0K shares	Q1 2024 Held for 1y 8m	$1.4B
B BlackRock, Inc. Institution	-	$6.3M 0.00% of portfolio	0.00% 170.9K shares	Q4 2022 Held for 2y 11m	$5.67T
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$3.1M 0.00% of portfolio	0.00% 84.0K shares	Q1 2023 Held for 2y 8m	$1.57T
BARD ASSOCIATES INC RIA/Wealth	Timothy Bard Johnson Founder	$3.0M 0.80% of portfolio	0.00% 81.4K shares	Q4 2022 Held for 2y 11m	$376.6M
R RBF Capital, LLC Institution	-	$2.7M 0.13% of portfolio	0.00% 74.2K shares	Q1 2023 Held for 2y 8m	$2.2B
R RICE HALL JAMES & ASSOCIATES, LLC Long Only Manager	Thomas W Mcdowell Chairman	$1.7M 0.09% of portfolio	0.00% 46.5K shares	Q4 2022 Held for 2y 11m	$1.8B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$1.7M 0.00% of portfolio	0.00% 46.2K shares	Q4 2022 Held for 2y 11m	$2.88T
DIMENSIONAL FUND ADVISORS LP Long Only Manager	David Paul Butler CEO	$1.4M 0.00% of portfolio	0.00% 37.1K shares	Q1 2023 Held for 2y 8m	$466.32B

Net Capital Flow

Institutional buying and selling activity for SMID in Q3 2025

Traded: +$2.4M
Buyers: 22
Sellers: 22
Total Bought: +$4.5M
Total Sold: −$2.2M
Avg Position: $2.0M

Biggest Buyers

Institution	Net Bought	Current Position
T THOMPSON DAVIS & CO., INC. Institution	+$2.2M +59.0K shares	$67.6M 1.8M shares
LAZARD ASSET MANAGEMENT LLC Long Only Manager	+$466.1K +715.0 shares	$466.1K 12.6K shares
Warren Averett Asset Management, LLC RIA/Wealth	+$369.1K +10.0K shares	$369.1K 10.0K shares
GOLDMAN SACHS GROUP INC Institution	+$274.3K +7.4K shares	$274.3K 7.4K shares
NEEDHAM INVESTMENT MANAGEMENT LLC Hedge Fund•Long/Short	+$221.4K +6.0K shares	$8.2M 223.0K shares
J JANE STREET GROUP, LLC Institution	+$219.4K +5.9K shares	$219.4K 5.9K shares
Berman McAleer LLC RIA/Wealth	+$214.1K +5.8K shares	$214.1K 5.8K shares
MORGAN STANLEY RIA/Wealth	+$150.3K +4.1K shares	$439.6K 11.9K shares
BARCLAYS PLC Institution	+$143.5K +-1.5K shares	$143.5K 3.9K shares
VANGUARD GROUP INC Institution	+$103.3K +2.8K shares	$8.3M 224.3K shares

Biggest Sellers

Institution	Net Sold	Current Position
C CI Private Wealth, LLC RIA/Wealth	−$627.3K −17.0K shares	$1.3M 34.8K shares
B BlackRock, Inc. Institution	−$565.4K −15.3K shares	$6.3M 170.9K shares
Y Y-Intercept Ltd Institution	−$237.7K −7.1K shares	Sold Off 0 shares
R RICE HALL JAMES & ASSOCIATES, LLC Long Only Manager	−$193.8K −5.3K shares	$1.7M 46.5K shares
STATE STREET CORP Institution	−$111.9K −3.0K shares	$1.7M 46.2K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$111.7K −3.0K shares	$439.3K 11.9K shares
NORTHERN TRUST CORP Institution	−$81.2K −2.2K shares	$1.1M 29.7K shares
T Tower Research Capital LLC Institution	−$46.4K −1.3K shares	$19.5K 529.0 shares
Bank of New York Mellon Corp Institution	−$39.2K −1.1K shares	$310.7K 8.4K shares
Sound Income Strategies, LLC RIA/Wealth	−$36.2K −1.1K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited SMID in Q3 2025

New Positions: 8
New Value: $1.3M
Exited Positions: 4
Exited Value: $286.8K

New Positions

Institution	Position Value
LAZARD ASSET MANAGEMENT LLC Long Only Manager	$466.1K 12.6K shares
Warren Averett Asset Management, LLC RIA/Wealth	$369.1K 10.0K shares
Berman McAleer LLC RIA/Wealth	$214.1K 5.8K shares
BARCLAYS PLC Institution	$143.5K 3.9K shares
N NEW YORK STATE COMMON RETIREMENT FUND Institution	$79.7K 2.2K shares
O Optiver Holding B.V. Institution	$2.0K 54.0 shares
SRS Capital Advisors, Inc. RIA/Wealth	$295.0 8.0 shares
PNC FINANCIAL SERVICES GROUP, INC. Institution	$74.0 2.0 shares

Exited Positions

Institution	Previous Position
Y Y-Intercept Ltd Institution	$237.7K 7.1K shares
Sound Income Strategies, LLC RIA/Wealth	$36.2K 1.1K shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	$11.7K 350.0 shares
FIRST FINANCIAL HOLDINGS, INC. Institution	$1.1K 33.0 shares

Options Activity

Institutions with the largest Call and Put options positions in SMID as of Q3 2025

Call Positions: 0
Call Value: -
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
No call positions found

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

Institutions with SMID as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
T THOMPSON DAVIS & CO., INC. Institution	-	41.75% $67.6M	0.00% 1.8M shares	Q4 2022 Held for 2y 11m	$162.0M
BARD ASSOCIATES INC RIA/Wealth	Timothy Bard Johnson Founder	0.80% $3.0M	0.00% 81.4K shares	Q4 2022 Held for 2y 11m	$376.6M
NEEDHAM INVESTMENT MANAGEMENT LLC Hedge Fund•Long/Short	George Austin Needham CEO	0.57% $8.2M	0.00% 223.0K shares	Q1 2024 Held for 1y 8m	$1.4B
R RBF Capital, LLC Institution	-	0.13% $2.7M	0.00% 74.2K shares	Q1 2023 Held for 2y 8m	$2.2B
R RICE HALL JAMES & ASSOCIATES, LLC Long Only Manager	Thomas W Mcdowell Chairman	0.09% $1.7M	0.00% 46.5K shares	Q4 2022 Held for 2y 11m	$1.8B
CALDWELL SUTTER CAPITAL, INC. RIA/Wealth	John Caldwell Helmer Founder	0.05% $120.7K	0.00% 3.3K shares	Q4 2022 Held for 2y 11m	$234.1M
I INTRUST BANK NA Institution	-	0.04% $446.4K	0.00% 12.1K shares	Q4 2022 Held for 2y 11m	$1.2B
Berman McAleer LLC RIA/Wealth	David Lee Berman CEO	0.03% $214.1K	0.00% 5.8K shares	Q3 2025 Held for 2 months	$714.7M
ADIRONDACK TRUST CO RIA/Wealth	Charles Earl Osborne Managing Partner	0.00% $12.2K	0.00% 330.0 shares	Q4 2022 Held for 2y 11m	$297.7M
Warren Averett Asset Management, LLC RIA/Wealth	Justin Thomas Russell CEO	0.00% $369.1K	0.00% 10.0K shares	Q3 2025 Held for 2 months	$10.0B