SDHC Schedule 13G/A: Virtus Reports 13.0% Stake; Overlap Noted

Rhea-AI Filing Summary

Smith Douglas Homes Corp's Schedule 13G/A reports large institutional positions in the company's Class A common shares. Kayne Anderson Rudnick Investment Management, LLC beneficially owns 1,602,664 shares (17.8%), including sole voting power on 407,754 shares and shared voting/dispositive power on 1,168,719 shares. Virtus Investment Advisers, LLC reports 1,168,090 shares (13.0%) all as shared voting and dispositive power, and Virtus Equity Trust (Virtus KAR Small-Cap Growth Fund) reports 1,134,274 shares (12.6%) as shared voting and dispositive power. The filing includes a certification that the securities are held in the ordinary course and not to change or influence control, and it notes that the Virtus amounts are included in the Kayne Anderson totals.

Positive

• Clear quantification of holdings: Kayne Anderson Rudnick reports 1,602,664 shares (17.8%), providing material ownership information.
• Detailed voting/dispositive breakdown: Filing lists sole and shared voting and dispositive powers, enabling assessment of control concentration.
• Certification of passive intent: Includes a statement that securities are held in the ordinary course and not to influence control.

Negative

• Overlap in reporting noted: The filing explicitly states Virtus-reported amounts are included in Kayne Anderson Rudnick's totals, which may complicate aggregate interpretation.
• Limited disclosure of underlying beneficial owners for Kayne's holdings: The filing does not identify underlying clients or accounts for the Kayne Anderson aggregate position.

Insights

Securities Analyst

Significant institutional ownership disclosed; Kayne Anderson reports a 17.8% stake with detailed voting and dispositive breakdown.

The Schedule 13G/A provides clear, quantified positions by major institutional holders. Kayne Anderson Rudnick discloses 1,602,664 shares (17.8%) with a mix of sole and shared voting/dispositive power, while Virtus-affiliated filers report sizable shared positions of 1,168,090 (13.0%) and 1,134,274 (12.6%). The filing states holdings are in the ordinary course and not held to influence control, which classifies this as a passive disclosure rather than an activist intent. The explicit voting and dispositive breakdowns allow investors to assess concentration of control versus economic exposure without additional speculation.

Corporate Governance Expert

Large passive stakes reported; voting power split is disclosed and Virtus amounts are noted as included in Kayne Anderson's totals.

The disclosure is material from a governance perspective because a single reporting person, Kayne Anderson Rudnick, is identified with 17.8% of the class and a specified allocation between sole and shared voting rights. Virtus filings show substantial shared voting/dispositive power and the document explicitly states the Virtus amounts are included within Kayne Anderson's reported aggregate. The filing also contains the certification that the holdings are not intended to change or influence control, which is important for interpreting these stakes as passive under Schedule 13G rules.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 4)

Smith Douglas Homes Corp

(Name of Issuer)

Smith Douglas Homes Ord Shs Class A

(Title of Class of Securities)

83207R107

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 83207R107

1

Names of Reporting Persons

Kayne Anderson Rudnick Investment Management, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CALIFORNIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 407,754.00
6	Shared Voting Power 1,168,719.00
7	Sole Dispositive Power 433,945.00
8	Shared Dispositive Power 1,168,719.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,602,664.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

17.8 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 83207R107

1

Names of Reporting Persons

Virtus Investment Advisers, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

MASSACHUSETTS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,168,090.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,168,090.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,168,090.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

13.0 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: The amounts reported on this page are also included in the amounts reported by Kayne Anderson Rudnick Investment Management, LLC on this Schedule 13G.

SCHEDULE 13G

CUSIP No. 83207R107

1

Names of Reporting Persons

Virtus Equity Trust on behalf of Virtus KAR Small-Cap Growth Fund

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,134,274.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,134,274.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,134,274.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

12.6 %

12

Type of Reporting Person (See Instructions)

IV

Comment for Type of Reporting Person: The amounts reported on this page are also included in the amounts reported by Virtus Investment Advisers, LLC on this Schedule 13G.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Smith Douglas Homes Corp
(b)	Address of issuer's principal executive offices: 110 VILLAGE TRAIL, SUITE 215, WOODSTOCK, GA, 30188, USA
Item 2.
(a)	Name of person filing: (1) Kayne Anderson Rudnick Investment Management, LLC (2) Virtus Investment Advisers, LLC (3) Virtus Equity Trust on behalf of Virtus KAR Small-Cap Growth Fund
(b)	Address or principal business office or, if none, residence: (1) Kayne Anderson Rudnick Investment Management, LLC - 2000 Avenue of the Stars, Suite 1110, Los Angeles, 90067, CA, United States (2) Virtus Investment Advisers, LLC - One Financial Plaza, Hartford, 06103, CT, United States (3) Virtus Equity Trust on behalf of Virtus KAR Small-Cap Growth Fund - 101 Munson Street, Greenfield, 01301, MA, United States
(c)	Citizenship: (1) Kayne Anderson Rudnick Investment Management, LLC - CALIFORNIA (2) Virtus Investment Advisers, LLC - MASSACHUSETTS (3) Virtus Equity Trust on behalf of Virtus KAR Small-Cap Growth Fund- DELAWARE
(d)	Title of class of securities: Smith Douglas Homes Ord Shs Class A
(e)	CUSIP No.: 83207R107
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: (1) Kayne Anderson Rudnick Investment Management, LLC: 1,602,664 (2) Virtus Investment Advisers, LLC: 1,168,090 (3) Virtus Equity Trust on behalf of Virtus KAR Small-Cap Growth Fund: 1,134,274
(b)	Percent of class: (1) Kayne Anderson Rudnick Investment Management, LLC: 17.8 (2) Virtus Investment Advisers, LLC: 13.0 (3) Virtus Equity Trust on behalf of Virtus KAR Small-Cap Growth Fund: 12.6
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: (1) Kayne Anderson Rudnick Investment Management, LLC: 407,754 (2) Virtus Investment Advisers, LLC: 0 (3) Virtus Equity Trust on behalf of Virtus KAR Small-Cap Growth Fund: 0
	(ii) Shared power to vote or to direct the vote: (1) Kayne Anderson Rudnick Investment Management, LLC: 1,168,719 (2) Virtus Investment Advisers, LLC: 1,168,090 (3) Virtus Equity Trust on behalf of Virtus KAR Small-Cap Growth Fund: 1,134,274
	(iii) Sole power to dispose or to direct the disposition of: (1) Kayne Anderson Rudnick Investment Management, LLC: 433,945 (2) Virtus Investment Advisers, LLC: 0 (3) Virtus Equity Trust on behalf of Virtus KAR Small-Cap Growth Fund: 0
	(iv) Shared power to dispose or to direct the disposition of: (1) Kayne Anderson Rudnick Investment Management, LLC: 1,168,719 (2) Virtus Investment Advisers, LLC: 1,168,090 (3) Virtus Equity Trust on behalf of Virtus KAR Small-Cap Growth Fund: 1,134,274
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. With respect to securities owned by a registered investment company included in this filing, only the custodian for such investment company, has the right to receive dividends paid with respect to, and proceeds from the sale of, such securities. No other person is known to have such right, except that the shareholders of such investment company participate proportionately in any dividends and distributions so paid.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Kayne Anderson Rudnick Investment Management, LLC

Signature:	/s/Michael Shoemaker
Name/Title:	Chief Compliance Officer
Date:	08/13/2025

Virtus Investment Advisers, LLC

Signature:	/s/Chetram Persaud
Name/Title:	Chief Compliance Officer
Date:	08/13/2025

Virtus Equity Trust on behalf of Virtus KAR Small-Cap Growth Fund

Signature:	/s/Daphne Chisolm
Name/Title:	Vice President, Counsel and Assistant Secretary
Date:	08/13/2025

FAQ

How many SDHC shares does Kayne Anderson Rudnick report owning?

Kayne Anderson Rudnick reports 1,602,664 shares, representing 17.8% of Class A common shares, with sole voting power on 407,754 and shared voting on 1,168,719.

What stake does Virtus Investment Advisers report in SDHC?

Virtus Investment Advisers, LLC reports 1,168,090 shares (13.0%), all reported as shared voting and shared dispositive power.

What does the filing say about intent to influence control of Smith Douglas Homes (SDHC)?

The filing includes a certification stating the securities are held in the ordinary course of business and were not acquired to change or influence control of the issuer.

Are the Virtus holdings included in Kayne Anderson Rudnick's totals?

Yes. The filing expressly notes that the amounts reported for Virtus are also included in the amounts reported by Kayne Anderson Rudnick on this Schedule 13G.

What voting and dispositive powers are disclosed for the major holders?

Kayne Anderson Rudnick reports sole voting power on 407,754 and shared voting/dispositive power on 1,168,719; Virtus-affiliated filers report their positions as shared voting and shared dispositive power.