EHP Funds Inc.
- SEC CIK
- 0001927881
- Latest filing
- Feb 12, 2026
The latest 13F from EHP Funds Inc. covers Q4 2025 (filed Feb 12, 2026): 25 long positions worth $43.6M. The top 10 holdings make up 70.8% of the portfolio, and the largest is State Street Financial Select Sector SPDR ETF at 10.9%. Livermore has 16 filings on Form 13F from this institution, going back to Q1 2022.
What changed in Q4 2025
Share counts compared with Q3 2025: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.
- New
- 9
- Est. +$15.6M
- Added
- 7
- Est. +$6.98M
- Reduced
- 9
- Est. −$19.3M
- Sold out
- 79
- Est. −$37.6M
Top 5 holdings
Share of this quarter's portfolio value
- State Street Financial Select Sector SPDR ETF81369Y60510.9%$4.76M
- State Street Materials Select Sector SPDR ETF81369Y1009.2%$4.01M
- State Street Consumer Discretionary Select Sector SPDR ETF81369Y4079.1%$3.96M
- State Street Industrial Select Sector SPDR ETF81369Y7049.0%$3.92M
- iShares Tr4642885138.3%$3.63M
Biggest buys
New and added positions, by estimated amount bought
- State Street Materials Select Sector SPDR ETF81369Y100+$4.01MNew
- State Street Consumer Discretionary Select Sector SPDR ETF81369Y407+$3.96MNew
- State Street Industrial Select Sector SPDR ETF81369Y704+$3.92MNew
- State Street Financial Select Sector SPDR ETF81369Y605+$3.86MAdded
- FSLRFirst Solar, Inc.
Largest weight increases
New and added positions, by percentage points of the portfolio gained
- State Street Financial Select Sector SPDR ETF81369Y605+9.74 pp1.2% → 10.9%
- State Street Materials Select Sector SPDR ETF81369Y100+9.19 pp0.0% → 9.2%
- State Street Consumer Discretionary Select Sector SPDR ETF81369Y407+9.08 pp0.0% → 9.1%
- State Street Industrial Select Sector SPDR ETF81369Y704+8.99 pp0.0% → 9.0%
- FSLRFirst Solar, Inc.
Biggest sells
Reduced and sold-out positions, by estimated amount sold
Largest weight decreases
Reduced and sold-out positions, by percentage points of the portfolio lost
Metrics
13F metrics for Q4 2025, computed only from the numbers in the filings. Definitions below.
- Portfolio value
- $43.6M
- −$32.3M (−42.5%) vs. prior quarter
- Positions
- 25
- −70 vs. prior quarter
- Top 10 concentration
- 70.8%
- Top 10 as share of value
- Turnover
- 37.8%
- Q4 2025, one quarter
- Average holding period
- 3.3 quarters
- Weighted by value
How these are calculated
- Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
- Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
- Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
- Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2022), so positions held before then are understated.
13F filings by quarter
16 quarters, going back to Q1 2022. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.
Peak $600.7M (Q1 2022)
| Quarter | Filed | Positions | Value | Top 3 holdings | Changes | Filing |
|---|---|---|---|---|---|---|
| Q4 2025 | Feb 12, 2026 | 25 | $43.6M | State Street Financial Select Sector SPDR ETFState Street Materials Select Sector SPDR ETFState Street Consumer Discretionary Select Sector SPDR ETF | vs. Q3 2025 | SEC |
| Q3 2025 | Nov 13, 2025 | 95 | $76.0M | VanEck Semiconductor ETFInvesco QQQ Trust Series IiShares Tr | vs. Q2 2025 | SEC |
| Q2 2025 | Aug 14, 2025 | 34 | $87.1M | Invesco QQQ Trust Series IiShares TrVanEck Semiconductor ETF | vs. Q1 2025 | SEC |
| Q1 2025 | May 15, 2025 | 33 | $89.7M | iShares TrState Street Energy Select Sector SPDR ETFVanEck Semiconductor ETF | vs. Q4 2024 | SEC |
| Q4 2024 | Feb 14, 2025 | 49 | $96.9M | VanEck Semiconductor ETFInvesco QQQ Trust Series IiShares Tr | vs. Q3 2024 | SEC |
| Q3 2024 | Nov 14, 2024 | 41 | $142.6M | iShares TriShares TrInvesco QQQ Trust Series I | vs. Q2 2024 | SEC |
| Q2 2024 | Aug 14, 2024 | 83 | $202.3M | VanEck Semiconductor ETFSPDR Series TrustInvesco QQQ Trust Series I | vs. Q1 2024 | SEC |
| Q1 2024 | May 15, 2024 | 171 | $145.9M | iShares TriShares TrVIXY | vs. Q4 2023 | SEC |
| Q4 2023 | Feb 14, 2024 | 192 | $199.4M | Invesco QQQ Trust Series ISPDR Series TrustiShares Tr | vs. Q3 2023 | SEC |
| Q3 2023 | Nov 14, 2023 | 258 | $211.8M | Invesco QQQ Trust Series IVanEck Semiconductor ETFSPDR Series Trust | vs. Q2 2023 | SEC |
| Q2 2023 | Aug 14, 2023 | 286 | $352.5M | iShares TrOKLOUTA Acquisition Corp | vs. Q1 2023 | SEC |
| Q1 2023 | May 15, 2023 | 303 | $455.5M | iShares TriShares TrUTA Acquisition Corp | vs. Q4 2022 | SEC |
| Q4 2022 | Feb 14, 2023 | 339 | $476.2M | SPDR Series TrustiShares TrUTA Acquisition Corp | vs. Q3 2022 | SEC |
| Q3 2022 | Nov 14, 2022 | 403 | $455.1M | UTA Acquisition CorpTransglobe Energy CorpDirexion Shs ETF Tr | vs. Q2 2022 | SEC |
| Q2 2022 | Aug 15, 2022 | 412 | $542.3M | iShares TrUTA Acquisition CorpASTL | vs. Q1 2022 | SEC |
| Q1 2022 | May 16, 2022 | 335 | $600.7M | ASTLHMHCCNQ | – | SEC |