EHP Funds Inc.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), EHP Funds Inc. reported 95 stock positions worth $76.0 million. Its top holding was Vaneck Semiconductor ETF (SMH) at 13.2% of the portfolio, followed by Invesco QQQ Trust Series 1 (QQQ, 11.4%) and Ishr Ibx Usd Hiyld CB ETF-Ui (HYG, 5.3%). Compared with Q2 2025, it opened 76 new positions, sold out of 15, added to 4 and reduced 14. The biggest buy was Vaneck Semiconductor ETF (SMH, shares +21%) and the biggest sale an exit from Coreweave Class A (CRWV).
- Most Recent 13F
- Q4 2025
- Location
- TORONTO, Z4
- CIK
- 0001927881
- Portfolio Value
- $76.0M (Q3 2025)
- SEC Filing
- 0001927881-25-000003 ↗ filed Nov 13, 2025
Holdings Value
Holdings 95 stocks · $76.0M
| SMH Vaneck Semiconductor ETF | 13.23% | 30,800 | $10.1M | Add +21.3% |
| QQQ Invesco QQQ Trust Series 1 | 11.38% | 14,400 | $8.6M | Reduce -19.1% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 5.34% | 50,000 | $4.1M | Reduce -54.5% |
| CPER United States Copper Index | 4.38% | 111,000 | $3.3M | New |
| AAPL Apple Inc. | 3.51% | 10,465 | $2.7M | New |
| MSFT Microsoft Corp. | 2.93% | 4,301 | $2.2M | New |
| SPHB Invesco S&P 500 High Beta Et | 2.70% | 18,700 | $2.1M | Reduce -12.2% |
| XME SS SPDR S&P Metals Mining | 2.47% | 20,100 | $1.9M | Reduce -15.6% |
| AMZN Amazon.com Inc. | 2.26% | 7,810 | $1.7M | Reduce -73.5% |
| NVDA Nvidia Corp. | 2.24% | 9,136 | $1.7M | Reduce -78.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.80% | 2,716 | $1.4M | New |
| COST Costco Wholesale Corp. | 1.76% | 1,441 | $1.3M | Add +188.2% |
| NFLX Netflix Inc. | 1.75% | 1,110 | $1.3M | New |
| DAL Delta Air Lines Inc. | 1.73% | 23,110 | $1.3M | Add +230.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.69% | 24,869 | $1.3M | New |
| EWY iShares MSCI South Korea ETF | 1.68% | 15,894 | $1.3M | New |
| AIRS Airsculpt Technologies Inc. | 1.61% | 152,515 | $1.2M | New |
| GS Goldman Sachs Group Inc. | 1.51% | 1,445 | $1.2M | New |
| XGN Exagen Inc. | 1.31% | 90,807 | $998K | New |
| GOOGL Alphabet Inc. Class A | 1.27% | 3,968 | $965K | Reduce -89.3% |
| ORCL Oracle Corp. | 1.18% | 3,181 | $895K | New |
| XLF SS Financial Select Sector | 1.16% | 16,400 | $883K | Reduce -82.4% |
| TIC Tic Solutions Inc. filed as ACUREN CORP | 1.15% | 65,584 | $873K | New |
| STLN Starling Oncology Inc. filed as THE ONCOLOGY INSTITUTE INC | 1.12% | 244,041 | $852K | New |
| PANW Palo Alto Networks Inc. | 0.88% | 3,275 | $667K | New |
| UBER Uber Technologies Inc. | 0.88% | 6,806 | $667K | New |
| LLY Eli Lilly & Co. | 0.88% | 873 | $666K | New |
| XLE SS Energy Select Sector | 0.87% | 7,400 | $661K | Reduce -87.3% |
| MS Morgan Stanley | 0.87% | 4,141 | $658K | New |
| GILD Gilead Sciences Inc. | 0.87% | 5,929 | $658K | New |
| SPOT Spotify Technology SA | 0.85% | 926 | $646K | New |
| VIXY Proshares Vix Short-Term Fut | 0.85% | 20,000 | $646K | New |
| STIM Neuronetics Inc. | 0.75% | 209,385 | $572K | New |
| V Visa Inc. Class A | 0.72% | 1,600 | $546K | New |
| TKNO Alpha Teknova Inc. | 0.72% | 88,045 | $545K | New |
| TMUS T-Mobile US Inc. | 0.69% | 2,200 | $527K | New |
| COR Cencora Inc. | 0.66% | 1,600 | $500K | New |
| UNH Unitedhealth Group Inc. | 0.66% | 1,444 | $499K | New |
| LRCX Lam Research Corp. | 0.63% | 3,600 | $482K | New |
| INTU Intuit Inc. | 0.63% | 700 | $478K | Add +40.0% |
| WW WW International Inc.-New filed as WW INTL INC | 0.62% | 17,191 | $470K | New |
| EQT Eqt Corp. | 0.56% | 7,794 | $424K | New |
| DGX Quest Diagnostics Inc. | 0.55% | 2,200 | $419K | No change |
| TER Teradyne Inc. | 0.55% | 3,019 | $416K | New |
| AVGO Broadcom Inc. | 0.52% | 1,200 | $396K | New |
| MCK McKesson Corp. | 0.51% | 500 | $386K | New |
| APP AppLovin Corp. Class A | 0.48% | 508 | $365K | New |
| WAB Wabtec Corp. | 0.47% | 1,800 | $361K | New |
| VLTO Veralto Corp. | 0.46% | 3,300 | $352K | New |
| BABA Alibaba Group Holding-SP ADR | 0.46% | 1,954 | $349K | New |
| INTC Intel Corp. | 0.45% | 10,150 | $341K | New |
| GOOG Alphabet Inc. Class C | 0.43% | 1,345 | $328K | New |
| QCOM Qualcomm Inc. | 0.39% | 1,800 | $299K | Reduce -5.3% |
| PGR Progressive Corp. | 0.39% | 1,200 | $296K | New |
| CIEN Ciena Corp. | 0.39% | 2,034 | $296K | New |
| CEG Constellation Energy | 0.39% | 900 | $296K | Reduce -10.0% |
| CTAS Cintas Corp. | 0.38% | 1,400 | $287K | Reduce -48.1% |
| CVRX CVRX Inc. | 0.36% | 33,841 | $273K | New |
| ALHC Alignment Healthcare Inc. | 0.35% | 15,111 | $264K | New |
| ONTO Onto Innovation Inc. | 0.33% | 1,934 | $250K | New |
| ROL Rollins Inc. | 0.32% | 4,100 | $241K | New |
| ASYS Amtech Systems Inc. | 0.31% | 25,242 | $234K | New |
| IMSR Terrestrial Energy Inc. filed as HCM II ACQUISITION CORP | 0.30% | 13,895 | $228K | New |
| NGVC Natural Grocers BY Vitamin C | 0.30% | 5,684 | $227K | New |
| GEHC GE Healthcare Technology | 0.30% | 3,000 | $225K | New |
| OUST Ouster Inc. | 0.29% | 8,181 | $221K | New |
| AMD Advanced Micro Devices | 0.28% | 1,335 | $216K | Reduce -94.2% |
| NOTVQ Inotiv Inc. | 0.28% | 148,521 | $215K | New |
| AMRC Ameresco Inc. Class A | 0.28% | 6,412 | $215K | New |
| STRL Sterling Infrastructure Inc. | 0.28% | 630 | $214K | New |
| NXT Nextpower Inc. filed as NEXTRACKER INC | 0.28% | 2,883 | $213K | New |
| TSEM Tower Semiconductor Ltd. | 0.28% | 2,893 | $209K | New |
| FSLR First Solar Inc. | 0.27% | 946 | $209K | New |
| ESOA Energy Services of America | 0.27% | 19,999 | $207K | Reduce -82.1% |
| GLW Corning Inc. | 0.27% | 2,495 | $205K | New |
| FORM Formfactor Inc. | 0.27% | 5,576 | $203K | New |
| NVT Nvent Electric PLC | 0.27% | 2,054 | $203K | New |
| MOBILICOM LTD | 0.24% | 19,813 | $184K | New |
| AIP Arteris Inc. | 0.23% | 17,500 | $177K | New |
| F Ford Motor Co. filed as FORD MTR CO | 0.23% | 14,733 | $176K | New |
| LPTH Lightpath Technologies Inc. Class A | 0.19% | 18,014 | $143K | New |
| XPOF Xponential Fitness Inc. Class A | 0.18% | 17,461 | $136K | New |
| RZLT Rezolute Inc. | 0.17% | 14,022 | $132K | New |
| INVZ Innoviz Technologies Ltd. | 0.16% | 61,154 | $125K | New |
| WRD Weride Inc.-ADR | 0.15% | 11,818 | $117K | New |
| ONDS Ondas Inc. filed as ONDAS HLDGS INC | 0.15% | 14,560 | $112K | New |
| REAL The Realreal Inc. filed as THE REALREAL INC | 0.14% | 10,060 | $107K | New |
| NUVB Nuvation Bio Inc. | 0.12% | 25,173 | $93K | New |
| BKD Brookdale Senior Living Inc. | 0.12% | 10,916 | $92K | New |
| MBOT Microbot Medical Inc. | 0.10% | 25,445 | $78K | New |
| EOLS Evolus Inc. | 0.10% | 12,094 | $74K | New |
| VYGR Voyager Therapeutics Inc. | 0.08% | 12,375 | $58K | New |
| SLN Silence Therapeutics PLC-ADR | 0.07% | 10,673 | $55K | New |
| BLND Blend Labs Inc. Class A | 0.07% | 13,743 | $50K | New |
| FOSL Fossil Group Inc. | 0.04% | 11,021 | $28K | New |
Options reported separately and not counted above: VANECK ETF TRUST puts ($19.6M), ISHARES TR calls ($9.2M), INVESCO QQQ TR puts ($6.0M), VANECK ETF TRUST puts ($2.5M).
Portfolio Sells Q2 2025 → Q3 2025
| CRWV Coreweave Inc. Class A | Sold out | 0.00% | −7.67 |
| GOOGL Alphabet Inc. Class A | Reduce -89.3% | 1.27% | −6.26 |
| NVDA Nvidia Corp. | Reduce -78.1% | 2.24% | −5.34 |
| AMZN Amazon.com Inc. | Reduce -73.5% | 2.26% | −5.17 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Reduce -54.5% | 5.34% | −4.84 |
| XLE SS Energy Select Sector | Reduce -87.3% | 0.87% | −4.80 |
| XLF SS Financial Select Sector | Reduce -82.4% | 1.16% | −4.45 |
| XLB SS Materials Select Sector | Sold out | 0.00% | −3.86 |
| SE Sea Ltd.-ADR | Sold out | 0.00% | −3.78 |
| AMD Advanced Micro Devices | Reduce -94.2% | 0.28% | −3.45 |
| XLY SS Consumer Disc Select Sect | Sold out | 0.00% | −3.19 |
| SVIX -1X Short Vix Futures ETF | Sold out | 0.00% | −1.42 |
| ESOA Energy Services of America | Reduce -82.1% | 0.27% | −1.00 |
| BX Blackstone Inc. | Sold out | 0.00% | −0.64 |
| GE General Electric | Sold out | 0.00% | −0.59 |
| ETR Entergy Corp. | Sold out | 0.00% | −0.51 |
| ADP Automatic Data Processing | Sold out | 0.00% | −0.46 |
| APH Amphenol Corp. Class A | Sold out | 0.00% | −0.45 |
| MRVL Marvell Technology Inc. | Sold out | 0.00% | −0.36 |
| BMY Bristol-Myers Squibb Co. | Sold out | 0.00% | −0.35 |
| CTAS Cintas Corp. | Reduce -48.1% | 0.38% | −0.31 |
| CVS CVS Health Corp. | Sold out | 0.00% | −0.29 |
| ALL Allstate Corp. | Sold out | 0.00% | −0.28 |
| GEV GE Vernova Inc. | Sold out | 0.00% | −0.24 |
| CEG Constellation Energy | Reduce -10.0% | 0.39% | +0.02 |
| QCOM Qualcomm Inc. | Reduce -5.3% | 0.39% | +0.05 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -19.1% | 11.38% | +0.11 |
| SPHB Invesco S&P 500 High Beta Et | Reduce -12.2% | 2.70% | +0.32 |
| XME SS SPDR S&P Metals Mining | Reduce -15.6% | 2.47% | +0.63 |
Portfolio Buys Q2 2025 → Q3 2025
| SMH Vaneck Semiconductor ETF | Add +21.3% | 13.23% | +5.10 |
| CPER United States Copper Index | New | 4.38% | +4.38 |
| AAPL Apple Inc. | New | 3.51% | +3.51 |
| MSFT Microsoft Corp. | New | 2.93% | +2.93 |
| BRK.B Berkshire Hathaway Inc. Class B | New | 1.80% | +1.80 |
| NFLX Netflix Inc. | New | 1.75% | +1.75 |
| BAC Bank of America Corp. | New | 1.69% | +1.69 |
| EWY iShares MSCI South Korea ETF | New | 1.68% | +1.68 |
| AIRS Airsculpt Technologies Inc. | New | 1.61% | +1.61 |
| GS Goldman Sachs Group Inc. | New | 1.51% | +1.51 |
| DAL Delta Air Lines Inc. | Add +230.1% | 1.73% | +1.33 |
| XGN Exagen Inc. | New | 1.31% | +1.31 |
| COST Costco Wholesale Corp. | Add +188.2% | 1.76% | +1.19 |
| ORCL Oracle Corp. | New | 1.18% | +1.18 |
| TIC Tic Solutions Inc. | New | 1.15% | +1.15 |
| STLN Starling Oncology Inc. | New | 1.12% | +1.12 |
| PANW Palo Alto Networks Inc. | New | 0.88% | +0.88 |
| UBER Uber Technologies Inc. | New | 0.88% | +0.88 |
| LLY Eli Lilly & Co. | New | 0.88% | +0.88 |
| MS Morgan Stanley | New | 0.87% | +0.87 |
| GILD Gilead Sciences Inc. | New | 0.87% | +0.87 |
| SPOT Spotify Technology SA | New | 0.85% | +0.85 |
| VIXY Proshares Vix Short-Term Fut | New | 0.85% | +0.85 |
| STIM Neuronetics Inc. | New | 0.75% | +0.75 |
| V Visa Inc. Class A | New | 0.72% | +0.72 |
| TKNO Alpha Teknova Inc. | New | 0.72% | +0.72 |
| TMUS T-Mobile US Inc. | New | 0.69% | +0.69 |
| COR Cencora Inc. | New | 0.66% | +0.66 |
| UNH Unitedhealth Group Inc. | New | 0.66% | +0.66 |
| LRCX Lam Research Corp. | New | 0.63% | +0.63 |
| WW WW International Inc.-New | New | 0.62% | +0.62 |
| EQT Eqt Corp. | New | 0.56% | +0.56 |
| TER Teradyne Inc. | New | 0.55% | +0.55 |
| AVGO Broadcom Inc. | New | 0.52% | +0.52 |
| MCK McKesson Corp. | New | 0.51% | +0.51 |
| APP AppLovin Corp. Class A | New | 0.48% | +0.48 |
| WAB Wabtec Corp. | New | 0.47% | +0.47 |
| VLTO Veralto Corp. | New | 0.46% | +0.46 |
| BABA Alibaba Group Holding-SP ADR | New | 0.46% | +0.46 |
| INTC Intel Corp. | New | 0.45% | +0.45 |
| GOOG Alphabet Inc. Class C | New | 0.43% | +0.43 |
| PGR Progressive Corp. | New | 0.39% | +0.39 |
| CIEN Ciena Corp. | New | 0.39% | +0.39 |
| CVRX CVRX Inc. | New | 0.36% | +0.36 |
| ALHC Alignment Healthcare Inc. | New | 0.35% | +0.35 |
| ONTO Onto Innovation Inc. | New | 0.33% | +0.33 |
| ROL Rollins Inc. | New | 0.32% | +0.32 |
| ASYS Amtech Systems Inc. | New | 0.31% | +0.31 |
| IMSR Terrestrial Energy Inc. | New | 0.30% | +0.30 |
| NGVC Natural Grocers BY Vitamin C | New | 0.30% | +0.30 |
Options Activity Q2 2025 → Q3 2025
| MASTERCARD INCORPORATED | put | Sold out | 105,500 | $59.3Mbefore exit |
| VISA INC | put | Sold out | 151,800 | $53.9Mbefore exit |
| APPLOVIN CORP | call | Sold out | 115,500 | $40.4Mbefore exit |
| ISHARES TR | call | Sold out | 156,000 | $33.7Mbefore exit |
| VANECK ETF TRUST | put | New | 60,000 | $19.6M |
| ISHARES TR | call | New | 103,500 | $9.2M |
| INVESCO DB US DLR INDEX TR | call | Sold out | 289,700 | $7.8Mbefore exit |
| VANECK ETF TRUST | put | New | 25,000 | $2.5M |
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 |