Polar Asset Management Partners’s VanEck Semiconductor ETF SMH Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q1	–	Sell	-76,500	Closed	-$27.5M	–	825
2025 Q4	$27.5M	Sell	76,500 -126,500	-62%	-$44.4M	0.35%	60
2025 Q3	$66.3M	Buy	203,000 +81,500	+67%	+$24.1M	0.74%	16
2025 Q2	$33.9M	Sell	121,500 -27,200	-18%	-$6.31M	0.53%	19
2025 Q1	$31.4M	Buy	148,700 +78,700	+112%	+$18.9M	0.73%	30
2024 Q4	$17M	Sell	70,000 -42,500	-38%	-$10.5M	0.2%	96
2024 Q3	$27.6M	Sell	112,500 -37,500	-25%	-$9.12M	0.58%	34
2024 Q2	$39.1M	Hold	150,000	–	–	0.81%	24
2024 Q1	$33.7M	Sell	150,000 -100,000	-40%	-$20.1M	0.58%	21
2023 Q4	$43.7M	Buy	+250,000	New	+$39.1M	0.76%	16
2023 Q3	–	Sell	-465,900	Closed	-$70.9M	–	962
2023 Q2	$70.9M	Buy	465,900 +133,300	+40%	+$18M	1.27%	8
2023 Q1	$43.8M	Buy	+332,600	New	+$39.9M	0.67%	17
2021 Q3	–	Sell	-100,000	Closed	-$13.1M	–	1389
2021 Q2	$13.1M	Sell	100,000 -200,000	-67%	-$24.7M	0.13%	172
2021 Q1	$36.5M	Buy	+300,000	New	+$35.5M	0.36%	43
2020 Q2	–	Sell	-300,000	Closed	-$17.6M	–	561
2020 Q1	$17.6M	Buy	+300,000	New	+$20.2M	0.35%	61
2019 Q2	–	Sell	-200,000	Closed	-$10.6M	–	424
2019 Q1	$10.6M	Hold	200,000	–	–	0.23%	106
2018 Q4	$8.73M	Sell	200,000 -300,000	-60%	-$14.1M	0.17%	125
2018 Q3	$26.6M	Hold	500,000	–	–	0.52%	34
2018 Q2	$25.7M	Buy	+500,000	New	+$26.1M	0.45%	37