SMITH DOUGLAS HOMES CORP SEC Filings

Smith Douglas Homes (SDHC): 12 West Capital Management LP and Joel Ramin filed Amendment No. 1 to Schedule 13G reporting beneficial ownership of 535,140 shares of Class A common stock, representing 5.9% of the class as of the reporting date. The filing lists shared voting and dispositive power over 535,140 shares and no sole voting or dispositive power. The date of event triggering the filing is 09/30/2025.

The percentage was calculated using 9,017,152 shares outstanding as of August 1, 2025, as disclosed in the company’s Form 10‑Q. The filers certified the holdings were not acquired and are not held for the purpose of changing or influencing control, consistent with a passive 13G filing.

Wasatch Advisors LP filed an amended Schedule 13G reporting beneficial ownership of 1,177,332 Smith Douglas Homes Corp Class A shares, representing 13.1% of the class. The event date prompting the filing is 09/30/2025.

Wasatch reports 893,264 shares with sole voting power and 1,177,332 shares with sole dispositive power, with no shared voting or dispositive power. The filer is classified as an investment adviser (IA) and certifies the holdings were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control.

Conifer Management, L.L.C. filed a Schedule 13G/A (Amendment No. 1) reporting beneficial ownership of 1,349,600 shares of Smith Douglas Homes Corp. (SDHC) Class A common stock, representing 15.0% of the class. The filing lists sole voting and sole dispositive power over the same 1,349,600 shares. The “Date of Event Which Requires Filing” is 10/31/2025.

Conifer identifies as an investment adviser and control person (IA, CO) and certifies the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Smith Douglas Homes (SDHC): Schedule 13G/A (Amendment No. 5) reports updated beneficial ownership by institutional holders. Kayne Anderson Rudnick Investment Management, LLC beneficially owns 1,350,042 shares, representing 15.0% of Class A as of 10/31/2025. Voting/dispositive powers: sole voting 396,047, shared voting 930,552; sole dispositive 419,490, shared dispositive 930,552.

Virtus Investment Advisers, LLC reports 929,923 shares (10.3%) with shared voting and dispositive power over the same amount. Virtus Equity Trust (Virtus KAR Small-Cap Growth Fund) reports 897,876 shares (10.0%) with shared voting and dispositive power. The filers certify the securities were acquired and are held in the ordinary course and not to change or influence control.

Smith Douglas Homes Corp. reported Q3 2025 results. Home closing revenue was $262.041 million and net income was $16.215 million, with diluted EPS of $0.24. For the nine months ended September 30, revenue reached $710.687 million and net income was $51.360 million.

Profitability softened year over year as home closing gross profit in Q3 was $54.970 million and SG&A was $36.088 million. The company recorded $0.6 million of inventory impairment and $2.3 million of lot option abandonment charges year to date. Operating cash flow was an outflow of $41.094 million year to date, reflecting higher real estate inventory and option deposits.

On the balance sheet, cash was $14.775 million and real estate inventory was $314.524 million. Notes payable were $53.637 million, including $49.0 million outstanding on the revolving credit facility at a 6.57% rate, with approximately $201.4 million of availability. As of October 31, 2025, Class A shares outstanding were 9,017,638 and Class B shares were 42,435,897; Smith Douglas Homes Corp. held approximately 17.5% of the economic interest in Smith Douglas Holdings LLC.

Smith Douglas Homes Corp. (SDHC) announced financial results for the three and nine months ended September 30, 2025. The company furnished a press release as Exhibit 99.1 to a Form 8-K dated November 5, 2025 under Item 2.02 (Results of Operations and Financial Condition). The information in Item 2.02, including Exhibit 99.1, is furnished and not filed, is not subject to Section 18 of the Exchange Act, and is not incorporated by reference except as specifically stated.

The Vanguard Group filed a Schedule 13G reporting beneficial ownership of 450,993 shares of Smith Douglas Homes Corp (SDHC) common stock, representing 5% of the class as of 09/30/2025.

The filing lists 0 shares with sole voting power and 48,980 with shared voting power. It shows 398,348 shares with sole dispositive power and 52,645 with shared dispositive power. Vanguard states the securities were acquired and are held in the ordinary course of business and not to change or influence control.

Vanguard notes its clients have rights to dividends or proceeds from sales related to these shares, and no single other person’s interest exceeds 5%.

Conifer Management, L.L.C. reports beneficial ownership of 500,000 shares of Smith Douglas Homes Corp. Class A common stock, representing 5.6% of the class. The filing states Conifer has sole voting and sole dispositive power over the shares, indicating it controls how the shares are voted and sold.

The Schedule 13G includes a certification that the securities are held in the ordinary course of business and were not acquired to change or influence control of the issuer. This disclosure informs investors that a single institutional filer holds a material passive stake in SDHC without an expressed intent to seek control.

Wasatch Advisors LP reports beneficial ownership of 1,279,357 shares of Smith Douglas Homes common stock, representing 14.2% of the class. Wasatch discloses sole voting power with respect to 915,334 shares and sole dispositive power over all 1,279,357 shares. The filing states the securities were acquired and are held in the ordinary course of business and were not acquired to change or influence control, indicating a passive investment position rather than an active control effort.

This Schedule 13G/A is a regulatory disclosure of a material ownership stake rather than an operational development. The position size is large enough to be meaningful to shareholders because it concentrates voting power in a substantial block while leaving dispositive authority with the reporting adviser.