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iShares MSCI India Small-Cap ETF
SMIN

136 hedge funds and large institutions have $509M invested in iShares MSCI India Small-Cap ETF in 2025 Q1 according to their latest regulatory filings, with 26 funds opening new positions, 41 increasing their positions, 44 reducing their positions, and 41 closing their positions.

New
Increased
Maintained
Reduced
Closed

269% more call options, than puts

Call options by funds: $1.96M | Put options by funds: $531K

7% less repeat investments, than reductions

Existing positions increased: 41 | Existing positions reduced: 44

3.55% less ownership

Funds ownership: 68.53% → 64.98% (-3.6%)

11% less funds holding

Funds holding: 153 → 136 (-17)

13% less capital invested

Capital invested by funds: $584M → $509M (-$75.2M)

37% less first-time investments, than exits

New positions opened: 26 | Existing positions closed: 41

50% less funds holding in top 10

Funds holding in top 10: 4 → 2 (-2)

Holders
136
Holders Change
-17
Holders Change %
-11.11%
% of All Funds
1.82%
Holding in Top 10
2
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-50%
% of All Funds
0.03%
New
26
Increased
41
Reduced
44
Closed
41
Calls
$1.96M
Puts
$531K
Net Calls
+$1.43M
Net Calls Change
+$2.07M

Top Buyers

Rank Fund Capital Flow
1
AllianceBernstein
AllianceBernstein
Tennessee
+$48.6M
2
Goldman Sachs
Goldman Sachs
New York
+$19.2M
3
Morgan Stanley
Morgan Stanley
New York
+$15.2M
4
DCM
Driehaus Capital Management
Illinois
+$14.8M
5
Millennium Management
Millennium Management
New York
+$5.67M

Top Sellers

Rank Fund Capital Flow
1
Jennison Associates
Jennison Associates
New York
-$51.1M
2
FP
FFG Partners
Florida
-$13.1M
3
Jane Street
Jane Street
New York
-$11.6M
4
AWM
Adams Wealth Management
Utah
-$9.24M
5
CI
CacheTech Inc
Utah
-$9.24M
Name Holding Trade Value Shares
Change 		Change in
Stake
EH
76
Equitable Holdings
New York
$381K +$82.3K +1,207 +28%
GIA
77
GHP Investment Advisors
Colorado
$379K – – –
Royal Bank of Canada
78
Royal Bank of Canada
Ontario, Canada
$375K -$915K -13,410 -71%
Mariner
79
Mariner
Kansas
$368K -$594K -8,706 -62%
PNC Financial Services Group
80
PNC Financial Services Group
Pennsylvania
$363K – – –
CM
81
Capital Management
Virginia
$354K – – –
KIA
82
Knollwood Investment Advisory
Maryland
$340K – – –
GAM
83
Gould Asset Management
California
$336K – – –
Cetera Investment Advisers
84
Cetera Investment Advisers
Illinois
$331K -$267K -3,921 -45%
GWM
85
GSB Wealth Management
Connecticut
$327K – – –
JP Morgan Chase
86
JP Morgan Chase
New York
$326K +$30.8K +451 +10%
PAS
87
Park Avenue Securities
New York
$278K +$279K +4,087 New
PAG
88
Private Advisor Group
New Jersey
$274K – – –
EFG
89
Elm3 Financial Group
Georgia
$262K -$113K -1,654 -30%
OIA
90
OneDigital Investment Advisors
Kansas
$235K +$236K +3,457 New
SWA
91
Sax Wealth Advisors
New Jersey
$203K – – –
William Blair & Company
92
William Blair & Company
Illinois
$191K -$293K -4,300 -60%
US Bancorp
93
US Bancorp
Minnesota
$189K +$189K +2,777 New
Osaic Holdings
94
Osaic Holdings
Arizona
$182K -$122K -1,794 -40%
TIM
95
Thompson Investment Management
Wisconsin
$136K – – –
Fidelity Investments
96
Fidelity Investments
Massachusetts
$128K +$27.1K +398 +27%
GJIA
97
Glass Jacobson Investment Advisors
Maryland
$110K – – –
SWM
98
Spire Wealth Management
Virginia
$102K -$6.82K -100 -6%
National Bank of Canada
99
National Bank of Canada
Quebec, Canada
$90.2K – – –
HIA
100
Harbor Investment Advisory
Maryland
$69K -$218K -3,200 -76%
2 3
4
5 6

SMIN Hedge Fund Activity: Q1 2025 in Review

136 of the 7,459 institutional investors tracked by Wall St. Rank reported a position in iShares MSCI India Small-Cap ETF (SMIN) for Q1 2025, worth a combined $509M — down 13% from $584M a quarter earlier.

Sellers outnumbered buyers: 41 funds closed out of SMIN and 26 opened new positions — a net loss of 15 holders — while 44 trimmed existing stakes and 41 added.

The largest buyer was AllianceBernstein, adding an estimated $48.6M. The largest seller was Jennison Associates, exiting entirely with an estimated $51.1M sold.

  • 136 institutional investors held iShares MSCI India Small-Cap ETF (SMIN) as of Q1 2025, down from 153 in Q4 2024.
  • Funds reported $509M of iShares MSCI India Small-Cap ETF stock for Q1 2025, down 13% quarter-over-quarter.
  • 26 funds opened new iShares MSCI India Small-Cap ETF positions in Q1 2025 and 41 closed out, a net change of -15 holders.
  • The largest iShares MSCI India Small-Cap ETF buyer in Q1 2025 was AllianceBernstein, an estimated $48.6M added.
  • The largest iShares MSCI India Small-Cap ETF seller in Q1 2025 was Jennison Associates, an estimated $51.1M sold.

Based on aggregated 13F filings for Q1 2025.