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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

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

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
GJL
1
Gendell Jeffrey L
$12.5M +$1.22M +430,507 +16%
Vanguard Group
2
Vanguard Group
Pennsylvania
$5.42M -$101K -35,618 -3%
Acadian Asset Management
3
Acadian Asset Management
Massachusetts
$3.48M -$25K -8,841 -1%
SI
4
Sprott Inc
Ontario, Canada
$3M – – –
Dimensional Fund Advisors
5
Dimensional Fund Advisors
Texas
$2.54M +$48.9K +17,278 +3%
BCM
6
Bridgeway Capital Management
Texas
$2.44M +$57.2K +20,213 +3%
Arrowstreet Capital
7
Arrowstreet Capital
Massachusetts
$2M +$329K +116,390 +30%
JCP
8
JB Capital Partners
New York
$1.84M – – –
CM
9
CastleKnight Management
New York
$1.79M -$1.34M -475,500 -51%
Geode Capital Management
10
Geode Capital Management
Massachusetts
$1.74M -$27.2K -9,614 -2%
BlackRock
11
BlackRock
New York
$1.73M -$125K -44,091 -9%
Jane Street
12
Jane Street
New York
$1.64M +$1.16M +408,762 New
Marshall Wace
13
Marshall Wace
United Kingdom
$1.54M +$1.09M +384,872 New
OSAM
14
O'Shaughnessy Asset Management
Connecticut
$1.24M +$433K +153,238 +98%
EI
15
EAM Investors
California
$961K +$679K +240,141 New
First Eagle Investment Management
16
First Eagle Investment Management
New York
$902K -$173K -61,007 -21%
THC
17
Truffle Hound Capital
Maryland
$880K +$622K +220,000 New
EF
18
Empowered Funds
Pennsylvania
$866K +$57.2K +20,213 +10%
RWM
19
Ritholtz Wealth Management
New York
$831K +$359K +126,848 +157%
SEI Investments
20
SEI Investments
Pennsylvania
$745K +$411K +145,439 +356%
Goldman Sachs
21
Goldman Sachs
New York
$700K +$419K +148,346 +555%
State Street
22
State Street
Massachusetts
$646K +$28.8K +10,200 +7%
Bank of America
23
Bank of America
North Carolina
$533K +$376K +132,968 +56,582%
Citadel Advisors
24
Citadel Advisors
Florida
$530K +$141K +49,929 +60%
VA
25
Verdad Advisers
Massachusetts
$404K +$286K +100,989 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.