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VanEck Semiconductor ETF
SMH

1,062 hedge funds and large institutions have $15.4B invested in VanEck Semiconductor ETF in 2025 Q3 according to their latest regulatory filings, with 138 funds opening new positions, 412 increasing their positions, 310 reducing their positions, and 75 closing their positions.

New
Increased
Maintained
Reduced
Closed

84% more first-time investments, than exits

New positions opened: 138 | Existing positions closed: 75

33% more repeat investments, than reductions

Existing positions increased: 412 | Existing positions reduced: 310

12% more capital invested

Capital invested by funds: $13.8B → $15.4B (+$1.64B)

4% more funds holding

Funds holding: 1,017 → 1,062 (+45)

2% more funds holding in top 10

Funds holding in top 10: 48 → 49 (+1)

6.17% less ownership

Funds ownership: 52.56% → 46.39% (-6.2%)

48% less call options, than puts

Call options by funds: $7.21B | Put options by funds: $13.8B

Holders
1,062
Holders Change
+45
Holders Change %
+4.42%
% of All Funds
13.94%
Holding in Top 10
49
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+2.08%
% of All Funds
0.64%
New
138
Increased
412
Reduced
310
Closed
75
Calls
$7.21B
Puts
$13.8B
Net Calls
-$6.56B
Net Calls Change
-$785M

Top Buyers

1
Bank of Nova Scotia
Bank of Nova Scotia
Ontario, Canada
+$223M
2
Morgan Stanley
Morgan Stanley
New York
+$209M
3
LPL Financial
LPL Financial
California
+$99.3M
4
CM
Capula Management
Cayman Islands
+$95.4M
5
Renaissance Technologies
Renaissance Technologies
New York
+$85.7M

Top Sellers

1
Jane Street
Jane Street
New York
-$380M
2
BNP Paribas Financial Markets
BNP Paribas Financial Markets
France
-$203M
3
Bank of Montreal
Bank of Montreal
Ontario, Canada
-$168M
4
MMEA
Main Management ETF Advisors
California
-$148M
5
Belvedere Trading
Belvedere Trading
Illinois
-$112M
Name Holding Trade Value Shares
Change 		Change in
Stake
WAS
76
WESPAC Advisors SoCal
California
$22.3M +$720K +2,433 +4%
PRA
77
Pine Ridge Advisers
New York
$22.2M – – –
NA
78
NewEdge Advisors
Louisiana
$21.7M +$10.3M +34,722 +109%
HI
79
Harbour Investments
Wisconsin
$21.4M +$1.58M +5,323 +9%
Barclays
80
Barclays
United Kingdom
$21.3M -$104M -352,701 -84%
PWP
81
Principle Wealth Partners
Connecticut
$21.3M +$373K +1,259 +2%
MS
82
Maven Securities
Jersey
$20.8M +$18.9M +63,824 New
EH
83
Equitable Holdings
New York
$20.3M +$3.8M +12,842 +26%
IFG
84
Independent Financial Group
California
$19.2M +$1.77M +5,963 +11%
PFS
85
Prospera Financial Services
Texas
$18.8M -$1.59M -5,383 -9%
SC
86
Scotia Capital
Ontario, Canada
$18.5M +$446K +1,507 +3%
Lido Advisors
87
Lido Advisors
California
$18.4M -$816K -2,756 -5%
AF
88
Apexium Financial
Texas
$18.1M +$1.42M +4,809 +10%
GL
89
Gemsstock Ltd
United Kingdom
$18M +$16.3M +55,100 New
HF
90
HRT Financial
New York
$17.9M +$12.7M +42,886 +360%
RCP
91
Rothschild Capital Partners
New York
$17.8M -$15.4K -52 -0.1%
Baird Financial Group
92
Baird Financial Group
Wisconsin
$17.7M +$2.54M +8,576 +19%
BCI
93
Brinker Capital Investments
Pennsylvania
$17.5M +$996K +3,364 +7%
HighTower Advisors
94
HighTower Advisors
Illinois
$17.5M +$5.72M +19,306 +56%
SPIA
95
Steward Partners Investment Advisory
New York
$17.3M +$967K +3,267 +7%
SCM
96
Stevens Capital Management
Pennsylvania
$17.2M +$15.6M +52,732 New
MC
97
MIG Capital
California
$17.1M +$15.5M +52,336 New
MAC
98
Mason & Associates (California)
California
$16.7M +$189K +638 +1%
LJAC
99
L.J. Altfest & Co
New York
$16.6M +$12.1K +41 +0.1%
AssetMark Inc
100
AssetMark Inc
California
$16.3M +$8.36M +28,227 +130%
2 3
4
5 6

SMH Hedge Fund Activity: Q3 2025 in Review

1,062 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in VanEck Semiconductor ETF (SMH) for Q3 2025, worth a combined $15.4B — up 12% from $13.8B a quarter earlier.

Buyers outnumbered sellers: 138 funds opened new SMH positions and 75 closed out — a net gain of 63 holders — while 412 added to existing stakes and 310 trimmed.

The largest buyer was Bank of Nova Scotia, adding an estimated $223M. The largest seller was Jane Street, cutting an estimated $380M.

  • 1,062 institutional investors held VanEck Semiconductor ETF (SMH) as of Q3 2025, up from 1,017 in Q2 2025.
  • Funds reported $15.4B of VanEck Semiconductor ETF stock for Q3 2025, up 12% quarter-over-quarter.
  • 138 funds opened new VanEck Semiconductor ETF positions in Q3 2025 and 75 closed out, a net change of +63 holders.
  • The largest VanEck Semiconductor ETF buyer in Q3 2025 was Bank of Nova Scotia, an estimated $223M added.
  • The largest VanEck Semiconductor ETF seller in Q3 2025 was Jane Street, an estimated $380M sold.

Based on aggregated 13F filings for Q3 2025.