EHP Funds Inc.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), EHP Funds Inc. reported 49 stock positions worth $96.9 million. Its top holding was Vaneck Semiconductor ETF (SMH) at 14.2% of the portfolio, followed by Invesco QQQ Trust Series 1 (QQQ, 14.0%) and iShares US Transportation Et (IYT, 9.0%). Compared with Q3 2024, it opened 29 new positions, sold out of 21, added to 7 and reduced 6. The biggest buy was a new position in iShares US Transportation Et (IYT) and the biggest sale an exit from iShares 7-10 Year Treasury B (IEF).
- Most Recent 13F
- Q4 2025
- Location
- TORONTO, Z4
- CIK
- 0001927881
- Portfolio Value
- $96.9M (Q4 2024)
- SEC Filing
- 0001927881-25-000001 ↗ filed Feb 14, 2025
Holdings Value
Holdings 49 stocks · $96.9M
| SMH Vaneck Semiconductor ETF | 14.17% | 56,700 | $13.7M | Add +64.8% |
| QQQ Invesco QQQ Trust Series 1 | 14.03% | 26,600 | $13.6M | Add +50.3% |
| IYT iShares US Transportation Et | 9.00% | 129,100 | $8.7M | New |
| SPHB Invesco S&P 500 High Beta Et | 8.97% | 98,100 | $8.7M | New |
| XOP SS SPDR S&P Og Exp & Prod | 6.42% | 47,000 | $6.2M | New |
| XHB SS SPDR S&P Homebldrs ETF | 6.14% | 56,900 | $5.9M | New |
| XLE SS Energy Select Sector | 6.13% | 69,300 | $5.9M | New |
| XME SS SPDR S&P Metals Mining | 6.10% | 104,100 | $5.9M | New |
| NVDA Nvidia Corp. | 2.36% | 17,000 | $2.3M | Add +68.3% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 1.94% | 24,800 | $1.9M | New |
| IYM iShares U.S. Basic Materials | 1.93% | 14,400 | $1.9M | New |
| IYH iShares U.S. Healthcare ETF | 1.92% | 32,000 | $1.9M | New |
| SVIX -1X Short Vix Futures ETF | 1.37% | 52,400 | $1.3M | New |
| NRG NRG Energy Inc. | 1.18% | 12,700 | $1.1M | Reduce -13.6% |
| DAL Delta Air Lines Inc. | 1.12% | 18,000 | $1.1M | Add +339.0% |
| ALK Alaska Air Group Inc. | 1.10% | 16,500 | $1.1M | New |
| UAL United Airlines Holdings Inc. | 1.00% | 10,000 | $971K | New |
| ECL Ecolab Inc. | 0.97% | 4,000 | $937K | New |
| APH Amphenol Corp. Class A | 0.93% | 13,000 | $903K | Reduce -29.4% |
| CRM Salesforce Inc. | 0.93% | 2,700 | $903K | New |
| GLW Corning Inc. | 0.86% | 17,600 | $836K | New |
| NEE Nextera Energy Inc. | 0.84% | 11,400 | $817K | New |
| WAB Wabtec Corp. | 0.84% | 4,300 | $815K | New |
| UNH Unitedhealth Group Inc. | 0.84% | 1,600 | $809K | Add +77.8% |
| MCK McKesson Corp. | 0.82% | 1,400 | $798K | Reduce -48.1% |
| WM Waste Management Inc. | 0.81% | 3,900 | $787K | New |
| SBAC SBA Communications Corp. | 0.53% | 2,500 | $510K | New |
| KLAC KLA Corp. | 0.52% | 800 | $504K | Add +33.3% |
| AVY Avery Dennison Corp. | 0.50% | 2,600 | $487K | New |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.49% | 12,500 | $479K | New |
| ORCL Oracle Corp. | 0.48% | 2,800 | $467K | New |
| HWM Howmet Aerospace Inc. | 0.47% | 4,200 | $459K | Reduce -60.0% |
| CTAS Cintas Corp. | 0.45% | 2,400 | $438K | Reduce -7.7% |
| BKR Baker Hughes Co. | 0.34% | 8,000 | $328K | New |
| CI The Cigna Group | 0.31% | 1,100 | $304K | New |
| ETR Entergy Corp. | 0.27% | 3,400 | $258K | No change |
| DLB Dolby Laboratories Inc. Class A | 0.26% | 3,200 | $250K | New |
| MRK Merck & Co. Inc. | 0.26% | 2,500 | $249K | Add +38.9% |
| SNA Snap-on Inc. | 0.25% | 700 | $238K | No change |
| NTAP Netapp Inc. | 0.24% | 2,000 | $232K | New |
| BMY Bristol-Myers Squibb Co. | 0.24% | 4,100 | $232K | No change |
| NFG National Fuel Gas Co. | 0.22% | 3,500 | $212K | No change |
| DGX Quest Diagnostics Inc. | 0.22% | 1,400 | $211K | No change |
| CHRD Chord Energy Corp. | 0.22% | 1,800 | $210K | New |
| HIG Hartford Insurance Group Inc. | 0.21% | 1,900 | $208K | No change |
| MTG Mgic Investment Corp. | 0.21% | 8,500 | $202K | No change |
| TER Teradyne Inc. | 0.21% | 1,600 | $201K | New |
| TT Trane Technologies PLC | 0.21% | 1,400 | $200K | Reduce -12.5% |
| PK Park Hotels & Resorts Inc. | 0.16% | 11,100 | $156K | New |
Options reported separately and not counted above: UNITED STS OIL FD LP calls ($6.0M), ISHARES TR calls ($4.9M).
Portfolio Sells Q3 2024 → Q4 2024
| IEF iShares 7-10 Year Treasury B | Sold out | 0.00% | −55.12 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Sold out | 0.00% | −12.47 |
| PROSHARES VIX SHORT-TERM FUT | Sold out | 0.00% | −4.25 |
| TLT iShares 20+ Year Treasury BD | Sold out | 0.00% | −1.72 |
| ELV Elevance Health Inc. | Sold out | 0.00% | −0.91 |
| WMT Walmart Inc. | Sold out | 0.00% | −0.88 |
| LLY Eli Lilly & Co. | Sold out | 0.00% | −0.87 |
| TMO Thermo Fisher Scientific Inc. | Sold out | 0.00% | −0.78 |
| LRCX Lam Research Corp. | Sold out | 0.00% | −0.74 |
| AMAT Applied Materials Inc. | Sold out | 0.00% | −0.71 |
| PWR Quanta Services Inc. | Sold out | 0.00% | −0.44 |
| ROL Rollins Inc. | Sold out | 0.00% | −0.33 |
| PHM Pultegroup Inc. | Sold out | 0.00% | −0.32 |
| UHS Universal Health Services-B | Sold out | 0.00% | −0.32 |
| HWM Howmet Aerospace Inc. | Reduce -60.0% | 0.47% | −0.26 |
| TT Trane Technologies PLC | Reduce -12.5% | 0.21% | −0.23 |
| TEL Te Connectivity Ltd. | Sold out | 0.00% | −0.15 |
| JNJ Johnson & Johnson | Sold out | 0.00% | −0.15 |
| ITW Illinois Tool Works | Sold out | 0.00% | −0.15 |
| CRS Carpenter Technology | Sold out | 0.00% | −0.15 |
| CMC Commercial Metals Co. | Sold out | 0.00% | −0.14 |
| COR Cencora Inc. | Sold out | 0.00% | −0.14 |
| PR Permian Resources Corp. Class A | Sold out | 0.00% | −0.13 |
| MCK McKesson Corp. | Reduce -48.1% | 0.82% | −0.11 |
| CTAS Cintas Corp. | Reduce -7.7% | 0.45% | +0.08 |
| APH Amphenol Corp. Class A | Reduce -29.4% | 0.93% | +0.09 |
| NRG NRG Energy Inc. | Reduce -13.6% | 1.18% | +0.24 |
Portfolio Buys Q3 2024 → Q4 2024
| IYT iShares US Transportation Et | New | 9.00% | +9.00 |
| SPHB Invesco S&P 500 High Beta Et | New | 8.97% | +8.97 |
| SMH Vaneck Semiconductor ETF | Add +64.8% | 14.17% | +8.25 |
| QQQ Invesco QQQ Trust Series 1 | Add +50.3% | 14.03% | +7.98 |
| XOP SS SPDR S&P Og Exp & Prod | New | 6.42% | +6.42 |
| XHB SS SPDR S&P Homebldrs ETF | New | 6.14% | +6.14 |
| XLE SS Energy Select Sector | New | 6.13% | +6.13 |
| XME SS SPDR S&P Metals Mining | New | 6.10% | +6.10 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | New | 1.94% | +1.94 |
| IYM iShares U.S. Basic Materials | New | 1.93% | +1.93 |
| IYH iShares U.S. Healthcare ETF | New | 1.92% | +1.92 |
| NVDA Nvidia Corp. | Add +68.3% | 2.36% | +1.50 |
| SVIX -1X Short Vix Futures ETF | New | 1.37% | +1.37 |
| ALK Alaska Air Group Inc. | New | 1.10% | +1.10 |
| UAL United Airlines Holdings Inc. | New | 1.00% | +1.00 |
| DAL Delta Air Lines Inc. | Add +339.0% | 1.12% | +0.98 |
| ECL Ecolab Inc. | New | 0.97% | +0.97 |
| CRM Salesforce Inc. | New | 0.93% | +0.93 |
| GLW Corning Inc. | New | 0.86% | +0.86 |
| NEE Nextera Energy Inc. | New | 0.84% | +0.84 |
| WAB Wabtec Corp. | New | 0.84% | +0.84 |
| WM Waste Management Inc. | New | 0.81% | +0.81 |
| SBAC SBA Communications Corp. | New | 0.53% | +0.53 |
| AVY Avery Dennison Corp. | New | 0.50% | +0.50 |
| SLB SLB Ltd. | New | 0.49% | +0.49 |
| ORCL Oracle Corp. | New | 0.48% | +0.48 |
| UNH Unitedhealth Group Inc. | Add +77.8% | 0.84% | +0.47 |
| BKR Baker Hughes Co. | New | 0.34% | +0.34 |
| CI The Cigna Group | New | 0.31% | +0.31 |
| DLB Dolby Laboratories Inc. Class A | New | 0.26% | +0.26 |
| NTAP Netapp Inc. | New | 0.24% | +0.24 |
| CHRD Chord Energy Corp. | New | 0.22% | +0.22 |
| TER Teradyne Inc. | New | 0.21% | +0.21 |
| KLAC KLA Corp. | Add +33.3% | 0.52% | +0.19 |
| PK Park Hotels & Resorts Inc. | New | 0.16% | +0.16 |
| MRK Merck & Co. Inc. | Add +38.9% | 0.26% | +0.11 |
Options Activity Q3 2024 → Q4 2024
| VANECK ETF TRUST | call | Sold out | 50,000 | $12.3Mbefore exit |
| UNITED STS OIL FD LP | call | New | 80,000 | $6.0M |
| ISHARES TR | call | New | 56,200 | $4.9M |
| INVESCO EXCH TRADED FD TR II | put | Sold out | 45,700 | $4.1Mbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q4 2025 | 25 | $43.6M | XLF, XLB, XLY, XLI, HYG |
| Q3 2025 | 95 | $76.0M | SMH, QQQ, HYG, CPER, AAPL |
| Q2 2025 | 34 | $87.1M | QQQ, HYG, SMH, CRWV, NVDA |
| Q1 2025 | 33 | $89.7M | TLT, XLE, SMH, QQQ, XLB |
| Q4 2024 | 49 | $96.9M | SMH, QQQ, IYT, SPHB, XOP |
| Q3 2024 | 41 | $142.6M | IEF, HYG, QQQ, SMH, PROSHARES VIX SHORT-TERM FUT |
| Q2 2024 | 83 | $202.3M | SMH, XME, QQQ, HYG, XLE |
| Q1 2024 | 111 | $144.6M | IEF, HYG, PROSHARES VIX SHORT-TERM FUT, XLE, XLB |