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Smart Sand
SND

64 hedge funds and large institutions have $56M invested in Smart Sand in 2025 Q4 according to their latest regulatory filings, with 24 funds opening new positions, 22 increasing their positions, 13 reducing their positions, and 5 closing their positions.

New
Increased
Maintained
Reduced
Closed

17,567% more call options, than puts

Call options by funds: $530K | Put options by funds: $3K

380% more first-time investments, than exits

New positions opened: 24 | Existing positions closed: 5

125% more capital invested

Capital invested by funds: $24.9M → $56M (+$31.1M)

69% more repeat investments, than reductions

Existing positions increased: 22 | Existing positions reduced: 13

42% more funds holding

Funds holding: 45 → 64 (+19)

5.42% more ownership

Funds ownership: 26.72% → 32.14% (+5.4%)

Holders
64
Holders Change
+19
Holders Change %
+42.22%
% of All Funds
0.78%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
24
Increased
22
Reduced
13
Closed
5
Calls
$530K
Puts
$3K
Net Calls
+$527K
Net Calls Change
+$329K

Top Buyers

Rank Fund Capital Flow
1
GJL
Gendell Jeffrey L
+$1.22M
2
Jane Street
Jane Street
New York
+$1.16M
3
Marshall Wace
Marshall Wace
United Kingdom
+$1.09M
4
EI
EAM Investors
California
+$679K
5
THC
Truffle Hound Capital
Maryland
+$622K

Top Sellers

Rank Fund Capital Flow
1
CM
CastleKnight Management
New York
-$1.34M
2
Renaissance Technologies
Renaissance Technologies
New York
-$423K
3
MSFS
Main Street Financial Solutions
Pennsylvania
-$380K
4
Stifel Financial
Stifel Financial
Missouri
-$346K
5
First Eagle Investment Management
First Eagle Investment Management
New York
-$173K
Name Holding Trade Value Shares
Change 		Change in
Stake
GCP
26
GSA Capital Partners
United Kingdom
$402K -$42.9K -15,186 -13%
Stifel Financial
27
Stifel Financial
Missouri
$344K -$346K -122,346 -59%
Walleye Capital
28
Walleye Capital
New York
$325K +$230K +81,193 New
Renaissance Technologies
29
Renaissance Technologies
New York
$323K -$423K -149,700 -65%
CAMG
30
CWA Asset Management Group
Florida
$309K +$218K +77,238 New
Susquehanna International Group
31
Susquehanna International Group
Pennsylvania
$298K +$172K +60,881 +448%
Northern Trust
32
Northern Trust
Illinois
$296K +$3.46K +1,225 +2%
Point72 Asset Management
33
Point72 Asset Management
Connecticut
$190K +$134K +47,501 New
Connor, Clark & Lunn Investment Management (CC&L)
34
Connor, Clark & Lunn Investment Management (CC&L)
British Columbia, Canada
$187K +$132K +46,849 New
AG
35
Algert Global
California
$182K +$129K +45,535 New
Hudson Bay Capital Management
36
Hudson Bay Capital Management
Connecticut
$173K +$122K +43,304 New
PCM
37
Prelude Capital Management
New York
$157K +$76.9K +27,200 +225%
Qube Research & Technologies (QRT)
38
Qube Research & Technologies (QRT)
United Kingdom
$147K +$104K +36,719 New
OAC
39
OMERS Administration Corp
Ontario, Canada
$146K +$103K +36,500 New
UBS Group
40
UBS Group
Switzerland
$135K +$84.2K +29,778 +742%
Millennium Management
41
Millennium Management
New York
$135K +$95.3K +33,702 New
QP
42
Quartz Partners
New York
$115K -$1.52K -537 -2%
American Century Companies
43
American Century Companies
Missouri
$113K +$79.6K +28,150 New
MSFS
44
Main Street Financial Solutions
Pennsylvania
$112K -$380K -134,380 -83%
Morgan Stanley
45
Morgan Stanley
New York
$112K +$17.7K +6,258 +29%
CC
46
Centiva Capital
New York
$97.6K +$69K +24,389 New
XT
47
XTX Topco
Cayman Islands
$93.6K +$66.2K +23,409 New
KCM
48
Kathmere Capital Management
Pennsylvania
$77.3K +$54.6K +19,321 New
Osaic Holdings
49
Osaic Holdings
Arizona
$77.2K +$53.7K +18,991 +6,268%
OQS
50
Occudo Quantitative Strategies
Florida
$71K +$50.2K +17,755 New
1
2
3

SND Hedge Fund Activity: Q4 2025 in Review

64 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Smart Sand (SND) for Q4 2025, worth a combined $56M — up 125% from $24.9M a quarter earlier.

Buyers outnumbered sellers: 24 funds opened new SND positions and 5 closed out — a net gain of 19 holders — while 22 added to existing stakes and 13 trimmed.

The largest buyer was Gendell Jeffrey L, adding an estimated $1.22M. The largest seller was CastleKnight Management, cutting an estimated $1.34M.

  • 64 institutional investors held Smart Sand (SND) as of Q4 2025, up from 45 in Q3 2025.
  • Funds reported $56M of Smart Sand stock for Q4 2025, up 125% quarter-over-quarter.
  • 24 funds opened new Smart Sand positions in Q4 2025 and 5 closed out, a net change of +19 holders.
  • The largest Smart Sand buyer in Q4 2025 was Gendell Jeffrey L, an estimated $1.22M added.
  • The largest Smart Sand seller in Q4 2025 was CastleKnight Management, an estimated $1.34M sold.

Based on aggregated 13F filings for Q4 2025.