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iShares MSCI India Small-Cap ETF
SMIN

129 hedge funds and large institutions have $438M invested in iShares MSCI India Small-Cap ETF in 2025 Q4 according to their latest regulatory filings, with 20 funds opening new positions, 44 increasing their positions, 44 reducing their positions, and 11 closing their positions.

New
Increased
Maintained
Reduced
Closed

82% more first-time investments, than exits

New positions opened: 20 | Existing positions closed: 11

4% more funds holding

Funds holding: 124 → 129 (+5)

3.62% more ownership

Funds ownership: 55.53% → 59.15% (+3.6%)

0% more repeat investments, than reductions

Existing positions increased: 44 | Existing positions reduced: 44

12% less capital invested

Capital invested by funds: $498M → $438M (-$60.1M)

100% less funds holding in top 10

Funds holding in top 10: 2 → 0 (-2)

Holders
129
Holders Change
+5
Holders Change %
+4.03%
% of All Funds
1.57%
Holding in Top 10
–
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-100%
% of All Funds
–
New
20
Increased
44
Reduced
44
Closed
11
Calls
$419K
Puts
–
Net Calls
+$419K
Net Calls Change
+$32K

Top Buyers

1
State Street
State Street
Massachusetts
+$14.9M
2
AAP
Ardsley Advisory Partners
Connecticut
+$10.1M
3
Bank of America
Bank of America
North Carolina
+$7.43M
4
CCM
Causeway Capital Management
California
+$6.6M
5
OMC
Old Mission Capital
Illinois
+$4.22M

Top Sellers

1
Goldman Sachs
Goldman Sachs
New York
-$34.7M
2
BlackRock
BlackRock
New York
-$12.5M
3
State of New Jersey Common Pension Fund D
State of New Jersey Common Pension Fund D
New Jersey
-$9.79M
4
Morgan Stanley
Morgan Stanley
New York
-$8.49M
5
Jane Street
Jane Street
New York
-$8.47M
Name Holding Trade Value Shares
Change 		Change in
Stake
AllianceBernstein
1
AllianceBernstein
Tennessee
$72.9M +$1.47M +20,306 +2%
HIM
2
Hillsdale Investment Management
Ontario, Canada
$34.8M – – –
Franklin Resources
3
Franklin Resources
California
$32.5M -$2.61M -36,093 -7%
CCM
4
Causeway Capital Management
California
$32.1M +$6.6M +91,457 +25%
Goldman Sachs
5
Goldman Sachs
New York
$28.7M -$34.7M -480,476 -54%
Man Group
6
Man Group
United Kingdom
$21.9M +$3.57M +49,404 +19%
Bank of America
7
Bank of America
North Carolina
$21.5M +$7.43M +102,916 +50%
Morgan Stanley
8
Morgan Stanley
New York
$21M -$8.49M -117,568 -28%
State Street
9
State Street
Massachusetts
$14.4M +$14.9M +206,169 New
Jane Street
10
Jane Street
New York
$12.6M -$8.47M -117,280 -39%
RC
11
Randolph Company
Ohio
$9.86M +$116K +1,613 +1%
AAP
12
Ardsley Advisory Partners
Connecticut
$9.79M +$10.1M +140,000 New
Northwestern Mutual Wealth Management
13
Northwestern Mutual Wealth Management
Wisconsin
$8.99M -$5.32M -73,711 -36%
American Century Companies
14
American Century Companies
Missouri
$8.18M +$3.03M +41,921 +56%
LPL Financial
15
LPL Financial
California
$7.8M -$1.2M -16,654 -13%
OMC
16
Old Mission Capital
Illinois
$7.59M +$4.22M +58,499 +117%
CA
17
Crumly & Associates
Illinois
$7.4M +$354K +4,905 +5%
EI
18
EAM Investors
California
$6.91M -$1.22M -16,918 -15%
MFG
19
Mainsail Financial Group
Washington
$6.66M +$242K +3,354 +4%
Aberdeen Group
20
Aberdeen Group
United Kingdom
$5.28M -$837K -11,598 -13%
UBS Group
21
UBS Group
Switzerland
$4.35M -$3.38M -46,873 -43%
SEI Investments
22
SEI Investments
Pennsylvania
$4.16M +$2.16M +29,977 +102%
Raymond James Financial
23
Raymond James Financial
Florida
$3.5M -$573K -7,943 -14%
Citadel Advisors
24
Citadel Advisors
Florida
$3.46M +$2.48M +34,357 +228%
LFS
25
Leibman Financial Services
Nebraska
$3.4M +$147K +2,038 +4%
1
2 3 4 5

SMIN Hedge Fund Activity: Q4 2025 in Review

129 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in iShares MSCI India Small-Cap ETF (SMIN) for Q4 2025, worth a combined $438M — down 12% from $498M a quarter earlier.

Buyers outnumbered sellers: 20 funds opened new SMIN positions and 11 closed out — a net gain of 9 holders — while 44 added to existing stakes and 44 trimmed.

The largest buyer was State Street, opening a new position worth an estimated $14.9M. The largest seller was Goldman Sachs, cutting an estimated $34.7M.

  • 129 institutional investors held iShares MSCI India Small-Cap ETF (SMIN) as of Q4 2025, up from 124 in Q3 2025.
  • Funds reported $438M of iShares MSCI India Small-Cap ETF stock for Q4 2025, down 12% quarter-over-quarter.
  • 20 funds opened new iShares MSCI India Small-Cap ETF positions in Q4 2025 and 11 closed out, a net change of +9 holders.
  • The largest iShares MSCI India Small-Cap ETF buyer in Q4 2025 was State Street, an estimated $14.9M added.
  • The largest iShares MSCI India Small-Cap ETF seller in Q4 2025 was Goldman Sachs, an estimated $34.7M sold.

Based on aggregated 13F filings for Q4 2025.