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Smart Sand
SND

45 hedge funds and large institutions have $24.9M invested in Smart Sand in 2025 Q3 according to their latest regulatory filings, with 6 funds opening new positions, 11 increasing their positions, 17 reducing their positions, and 14 closing their positions.

New
Increased
Maintained
Reduced
Closed

12% more capital invested

Capital invested by funds: $22.2M → $24.9M (+$2.76M)

1.68% more ownership

Funds ownership: 25.04% → 26.72% (+1.7%)

15% less funds holding

Funds holding: 53 → 45 (-8)

35% less repeat investments, than reductions

Existing positions increased: 11 | Existing positions reduced: 17

57% less first-time investments, than exits

New positions opened: 6 | Existing positions closed: 14

Holders
45
Holders Change
-8
Holders Change %
-15.09%
% of All Funds
0.59%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
6
Increased
11
Reduced
17
Closed
14
Calls
$198K
Puts
–
Net Calls
+$198K
Net Calls Change
-$182K

Top Buyers

Rank Fund Capital Flow
1
GJL
Gendell Jeffrey L
+$1.3M
2
MSFS
Main Street Financial Solutions
Pennsylvania
+$321K
3
JCP
JB Capital Partners
New York
+$218K
4
GCP
GSA Capital Partners
United Kingdom
+$197K
5
Citadel Advisors
Citadel Advisors
Florida
+$163K

Top Sellers

Rank Fund Capital Flow
1
Vanguard Group
Vanguard Group
Pennsylvania
-$189K
2
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
-$96.6K
3
Jane Street
Jane Street
New York
-$88.4K
4
Cambridge Investment Research Advisors
Cambridge Investment Research Advisors
Iowa
-$74K
5
Man Group
Man Group
United Kingdom
-$74K
Name Holding Trade Value Shares
Change 		Change in
Stake
GJL
1
Gendell Jeffrey L
$5.77M +$1.3M +656,547 +32%
Vanguard Group
2
Vanguard Group
Pennsylvania
$2.98M -$189K -95,503 -6%
CM
3
CastleKnight Management
New York
$1.98M – – –
Acadian Asset Management
4
Acadian Asset Management
Massachusetts
$1.88M -$13.6K -6,872 -0.8%
SI
5
Sprott Inc
Ontario, Canada
$1.6M – – –
Dimensional Fund Advisors
6
Dimensional Fund Advisors
Texas
$1.32M -$70.4K -35,581 -5%
BCM
7
Bridgeway Capital Management
Texas
$1.26M +$40.2K +20,333 +4%
BlackRock
8
BlackRock
New York
$1.02M -$160 -81 -0%
JCP
9
JB Capital Partners
New York
$984K +$218K +110,000 +31%
Geode Capital Management
10
Geode Capital Management
Massachusetts
$951K +$315 +159 +0%
Arrowstreet Capital
11
Arrowstreet Capital
Massachusetts
$823K – – –
First Eagle Investment Management
12
First Eagle Investment Management
New York
$613K +$20.7K +10,444 +4%
Renaissance Technologies
13
Renaissance Technologies
New York
$493K +$79.9K +40,400 +21%
Stifel Financial
14
Stifel Financial
Missouri
$446K +$1.26K +636 +0.3%
EF
15
Empowered Funds
Pennsylvania
$420K +$40.2K +20,333 +12%
MSFS
16
Main Street Financial Solutions
Pennsylvania
$348K +$321K +162,500 New
OSAM
17
O'Shaughnessy Asset Management
Connecticut
$335K -$69.8K -35,306 -18%
State Street
18
State Street
Massachusetts
$324K – – –
GCP
19
GSA Capital Partners
United Kingdom
$247K +$197K +99,706 +626%
Citadel Advisors
20
Citadel Advisors
Florida
$177K +$163K +82,611 New
RWM
21
Ritholtz Wealth Management
New York
$173K -$47K -23,736 -23%
Northern Trust
22
Northern Trust
Illinois
$156K – – –
Man Group
23
Man Group
United Kingdom
$147K -$74K -37,391 -35%
SEI Investments
24
SEI Investments
Pennsylvania
$87.5K -$107 -54 -0.1%
QP
25
Quartz Partners
New York
$62.7K -$352 -178 -0.6%
1
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SND Hedge Fund Activity: Q3 2025 in Review

45 of the 7,621 institutional investors tracked by Wall St. Rank reported a position in Smart Sand (SND) for Q3 2025, worth a combined $24.9M — up 12% from $22.2M a quarter earlier.

Sellers outnumbered buyers: 14 funds closed out of SND and 6 opened new positions — a net loss of 8 holders — while 17 trimmed existing stakes and 11 added.

The largest buyer was Gendell Jeffrey L, adding an estimated $1.3M. The largest seller was Vanguard Group, cutting an estimated $189K.

  • 45 institutional investors held Smart Sand (SND) as of Q3 2025, down from 53 in Q2 2025.
  • Funds reported $24.9M of Smart Sand stock for Q3 2025, up 12% quarter-over-quarter.
  • 6 funds opened new Smart Sand positions in Q3 2025 and 14 closed out, a net change of -8 holders.
  • The largest Smart Sand buyer in Q3 2025 was Gendell Jeffrey L, an estimated $1.3M added.
  • The largest Smart Sand seller in Q3 2025 was Vanguard Group, an estimated $189K sold.

Based on aggregated 13F filings for Q3 2025.