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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
Squarepoint
101
Squarepoint
New York
$16.3M +$14.8M +50,000 New
PAS
102
Park Avenue Securities
New York
$16M -$94.7K -320 -0.7%
Parallax Volatility Advisers
103
Parallax Volatility Advisers
California
$15.8M -$4.76M -16,091 -25%
FTS
104
Fifth Third Securities
Ohio
$15.6M -$616K -2,080 -4%
ACM
105
Absolute Capital Management
Pennsylvania
$15.3M +$1.25M +4,208 +10%
AWM
106
Apollon Wealth Management
South Carolina
$15.2M +$300K +1,015 +2%
AWM
107
AE Wealth Management
Kansas
$15.2M -$909K -3,070 -6%
PIA
108
Petredis Investment Advisors
Pennsylvania
$14.9M +$401K +1,355 +3%
NFSG
109
Newbridge Financial Services Group
Florida
$14.7M +$172K +582 +1%
FP
110
Fiduciary Planning
Florida
$14.6M +$266K +898 +2%
CIA
111
Concurrent Investment Advisors
Florida
$14.3M -$2.17M -7,322 -14%
SFS
112
Sowell Financial Services
Arkansas
$14.2M -$1.87M -6,321 -13%
CI
113
Cavalier Investments
Georgia
$14.1M -$841K -2,842 -6%
MFG
114
Merit Financial Group
Georgia
$13.8M -$62.2K -210 -0.5%
GVAG
115
Great Valley Advisor Group
Delaware
$13.5M +$929K +3,138 +8%
ACM
116
Avalon Capital Management
California
$13.5M -$97.4K -329 -0.8%
MIA
117
MMBG Investment Advisors
Florida
$13.4M -$801K -2,705 -6%
Creative Planning
118
Creative Planning
Kansas
$13.4M +$1.38M +4,666 +13%
Truist Financial
119
Truist Financial
North Carolina
$13.3M -$1.77M -5,980 -13%
UOIF
120
University of Illinois Foundation
Illinois
$12.9M – – –
VU
121
Valence8 US
Massachusetts
$12.7M – – –
MA
122
Mutual Advisors
Nebraska
$12.5M +$3.28M +11,083 +44%
JWM
123
Jackson Wealth Management
Florida
$12.4M +$51.5K +174 +0.5%
PFM
124
Potomac Fund Management
Florida
$12.3M +$11.1M +37,627 New
SFM
125
Soros Fund Management
New York
$12.2M +$11.1M +37,500 New
3 4
5
6 7

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.