Managers / Q1 2025 · view latest →
EHP Funds Inc.
CIK 0001927881 · 2300 YONGE STREET, UNIT 2002, TORONTO, Z4, M4P 1E4 · 905-630-7424
Summary
Ehp Funds Inc. reported $127M in U.S.-listed holdings across 35 positions for Q1 2025.
The portfolio is heavily concentrated: XLE alone accounts for 23.4% of reported value.
Compared with Q4 2024, the fund opened 20 new positions and exited 36.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- ETP · 62.2% · $79M
- Other · 29.4% · $37M
- Common Stock · 8.4% · $11M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2024 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| INVESCO QQQ TR | NEW | +75.0K | 75.0K | +$35M | $35M |
| TLTISHARES TR | NEW | +135.0K | 135.0K | +$12M | $12M |
| XLBSELECT SECTOR SPDR TR | NEW | +95.0K | 95.0K | +$8M | $8M |
| XLFSELECT SECTOR SPDR TR | NEW | +149.6K | 149.6K | +$7M | $7M |
| BNOUNITED STS BRENT OIL FD LP | NEW | +141.3K | 141.3K | +$4M | $4M |
| USOUNITED STS OIL FD LP | NEW | +41.0K | 41.0K | +$3M | $3M |
| ROBINHOOD MKTS INC | NEW | +52.5K | 52.5K | +$2M | $2M |
| XLCSELECT SECTOR SPDR TR | NEW | +16.0K | 16.0K | +$2M | $2M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2025
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | XLESELECT SECTOR SPDR TR | ENERGY · SBI MATERIALS · FINANCIAL · SBI INT-UTILS · COMMUNICATION | 23.39% | $30M | 398.2K |
| 2 | TLTISHARES TR | 20 YR TR BD ETF · US HLTHCARE ETF | 10.93% | $14M | 161.3K |
| 3 | SMHVANECK ETF TRUSThistory → | SEMICONDUCTR ETF | 7.79% | $10M | 46.8K |
| 4 | QQQINVESCO QQQ TRhistory → | UNIT SER 1 | 7.78% | $10M | 21.1K |
| 5 | BNOUNITED STS BRENT OIL FD LPhistory → | UNIT | 3.46% | $4M | 141.3K |
| 6 | USOUNITED STS OIL FD LPhistory → | UNITS | 2.49% | $3M | 41.0K |
| 7 | SPHBINVESCO EXCH TRADED FD TR IIhistory → | S&P 500 HB ETF | 2.14% | $3M | 34.8K |
| 8 | XMESPDR SER TRhistory → | S&P METALS MNG | 2.04% | $3M | 46.2K |
| 9 | VS TRUST | -1X SHRT VIX FUT | 1.21% | $2M | 75.9K |
| 10 | UGAUNITED STS GASOLINE FD LPhistory → | UNITS | 1.01% | $1M | 20.0K |
| 11 | MCKMCKESSON CORP | COM | 0.74% | $942,186 | 1.4K |
| 12 | VLTOVERALTO CORP | COM SHS | 0.71% | $906,285 | 9.3K |
| 13 | MSIMOTOROLA SOLUTIONS INC | COM NEW | 0.69% | $875,620 | 2.0K |
| 14 | CRMSALESFORCE INC | COM | 0.68% | $858,752 | 3.2K |
| 15 | GOOGLALPHABET INC | CAP STK CL A | 0.66% | $835,056 | 5.4K |
| 16 | WABWABTEC | COM | 0.66% | $834,210 | 4.6K |
| 17 | UNHUNITEDHEALTH GROUP INC | COM | 0.62% | $785,625 | 1.5K |
| 18 | DALDELTA AIR LINES INC DEL | COM NEW | 0.52% | $667,080 | 15.3K |
| 19 | DGXQUEST DIAGNOSTICS INC | COM | 0.51% | $642,960 | 3.8K |
| 20 | ADPAUTOMATIC DATA PROCESSING IN | COM | 0.50% | $641,613 | 2.1K |
| 21 | DISDISNEY WALT CO | COM | 0.40% | $513,240 | 5.2K |
| 22 | QCOMQUALCOMM INC | COM | 0.40% | $506,913 | 3.3K |
| 23 | KLACKLA CORP | COM NEW | 0.27% | $339,900 | 500 |
| 24 | NXSTNEXSTAR MEDIA GROUP INC | COMMON STOCK | 0.23% | $286,752 | 1.6K |
| 25 | TMUST-MOBILE US INC | COM | 0.21% | $266,710 | 1.0K |
| 26 | PAYXPAYCHEX INC | COM | 0.21% | $262,276 | 1.7K |
| 27 | GILDGILEAD SCIENCES INC | COM | 0.19% | $246,510 | 2.2K |
| 28 | CEGCONSTELLATION ENERGY CORP | COM | 0.17% | $221,793 | 1.1K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q4 2025 | $44M | 25 | Feb 12, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $113M | 99 | Nov 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $288M | 40 | Aug 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $127M | 35 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $108M | 51 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $159M | 43 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $202M | 83 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $244M | 174 | May 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $275M | 196 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $214M | 259 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $407M | 288 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | Under review | 306 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | Under review | 343 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $494M | 407 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $601M | 417 | Aug 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $601M | 335 | May 16, 2022 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.