Graham Capital Management’s VanEck Semiconductor ETF SMH Stock Holding History

Graham Capital Management’s Portfolio SMH Stock Details SMH Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q2	$6.69M	Buy	10,200 +1,400	+16%	+$764K	0.12%	121
2026 Q1	$3.37M	Sell	8,800 -2,000	-19%	-$794K	0.08%	179
2025 Q4	$3.89M	Buy	10,800 +1,299	+14%	+$456K	0.09%	140
2025 Q3	$3.1M	Sell	9,501 -10,999	-54%	-$3.26M	0.05%	165
2025 Q2	$5.72M	Buy	+20,500	New	+$4.75M	0.09%	126
2024 Q4	–	Sell	-7,000	Closed	-$1.72M	–	1460
2024 Q3	$1.72M	Buy	+7,000	New	+$1.7M	0.03%	322
2024 Q1	–	Sell	-20,000	Closed	-$3.5M	–	1288
2023 Q4	$3.5M	Buy	+20,000	New	+$3.13M	0.08%	142
2023 Q2	–	Sell	-150,524	Closed	-$19.8M	–	1275
2023 Q1	$19.8M	Buy	150,524 +15,524	+11%	+$1.86M	0.6%	19
2022 Q4	$13.7M	Buy	+135,000	New	+$13.7M	0.42%	24
2021 Q2	–	Sell	-80,000	Closed	-$9.74M	–	150
2021 Q1	$9.74M	Sell	80,000 -60,000	-43%	-$7.11M	0.43%	61
2020 Q4	$15.3M	Buy	+140,000	New	+$13.9M	0.56%	42

Other funds holding SMH

Bank of America Charlotte, North Carolina $1.55T AUM 33.47% 1-Year Est. Return

Morgan Stanley New York $1.89T AUM 35.08% 1-Year Est. Return

Goldman Sachs New York $1.15T AUM 47.82% 1-Year Est. Return

LPL Financial San Diego, California $445B AUM 25.58% 1-Year Est. Return

BNP Paribas Financial Markets Paris, France $289B AUM 60.46% 1-Year Est. Return

Susquehanna International Group Bala Cynwyd, Pennsylvania $1.28T AUM 58.89% 1-Year Est. Return

Barclays London, United Kingdom $521B AUM 51.41% 1-Year Est. Return

UBS Group Zurich, Switzerland $786B AUM 40.34% 1-Year Est. Return

JP Morgan Chase New York $1.81T AUM 41.13% 1-Year Est. Return

JRP

Jasper Ridge Partners Menlo Park, California $4.69B AUM 31.34% 1-Year Est. Return

Graham Capital Management's SMH Position: Q2 2026 in Review

Graham Capital Management increased its VanEck Semiconductor ETF (SMH) stake by 16% in Q2 2026, buying an estimated $764K and bringing the position to 10,200 shares worth $6.69M. The position accounts for 0.12% of the portfolio, ranked #121.

Graham Capital Management first reported a position in SMH in Q4 2020 and has held it in 11 quarters since. The position peaked at $19.8M in Q1 2023. 1,550 funds tracked by Wall St. Rank hold SMH as of Q2 2026.

Graham Capital Management held 10,200 shares of VanEck Semiconductor ETF worth $6.69M as of Q2 2026.
Graham Capital Management bought 1,400 VanEck Semiconductor ETF shares in Q2 2026, an estimated $764K.
VanEck Semiconductor ETF made up 0.12% of Graham Capital Management's portfolio in Q2 2026, its #121 holding.
Graham Capital Management first reported a position in VanEck Semiconductor ETF in Q4 2020 and has held it in 11 quarters since.
Graham Capital Management's VanEck Semiconductor ETF position peaked at $19.8M in Q1 2023.
1,550 funds tracked by Wall St. Rank held VanEck Semiconductor ETF as of Q2 2026.

Based on Graham Capital Management's 13F filing for Q2 2026, filed 14 Aug 2026.