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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
CTWM
1051
Cherry Tree Wealth Management
Minnesota
$3.26K – – –
PAI
1052
Pittenger & Anderson Inc
Nebraska
$3.26K – – –
FC
1053
Financial Consulate
Maryland
$2.65K +$2.37K +8 New
FFA
1054
Frazier Financial Advisors
Ohio
$2.61K – – –
VWA
1055
VSM Wealth Advisory
Maryland
$2.61K – – –
HCM
1056
Horrell Capital Management
Arkansas
$1.65K – – –
KHC
1057
Koesten Hirschmann & Crabtree
Kansas
$1.63K – – –
AP
1058
Atwood & Palmer
Missouri
$1.18K – – –
FFO
1059
Fortitude Family Office
Arizona
$979 – – –
GIM
1060
Gold Investment Management
Alberta, Canada
$653 – – –
BWM
1061
Bernard Wealth Management
Michigan
$653 +$592 +2 New
CTA
1062
Colonial Trust Advisors
South Carolina
$328 – – –
PWM
1063
Proathlete Wealth Management
Florida
$326 -$4.44K -15 -94%
RTL
1064
Red Tortoise LLC
Georgia
$17 – – –
Belvedere Trading
1065
Belvedere Trading
Illinois
– -$112M -378,298 Closed
A
1066
Allianz
Germany
– -$55.5M -199,097 Closed
SCM
1067
Soros Capital Management
New York
– -$31.5M -113,100 Closed
MW
1068
Marks Wealth
Maryland
– -$19.2M -68,859 Closed
MTWSIF
1069
Mivtachim The Workers Social Insurance Fund
Israel
– -$17.1M -61,300 Closed
PP
1070
Prudential plc
United Kingdom
– -$15.3M -54,850 Closed
PIM
1071
Parker Investment Management
California
– -$12.6M -45,022 Closed
HT
1072
HAP Trading
New York
– -$12.1M -40,961 Closed
JF
1073
Jump Financial
Illinois
– -$11.2M -40,089 Closed
NI
1074
Noked Israel
Israel
– -$11.2M -40,000 Closed
PCM
1075
Polymer Capital Management
New York
– -$11M -37,000 Closed
41 42
43
44 45

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.