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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
USCWA
126
U.S. Capital Wealth Advisors
Texas
$12.2M -$60.1K -203 -0.5%
JPLA
127
Joseph P. Lucia & Associates
New York
$12.1M +$145K +489 +1%
WIA
128
World Investment Advisors
California
$12.1M +$5.45M +18,401 +98%
GAG
129
GM Advisory Group
New York
$12.1M +$11M +37,010 New
KHLMTHM
130
Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet
Israel
$12M – – –
CW
131
CreativeOne Wealth
Kansas
$12M +$1.5M +5,062 +16%
MWA
132
MFA Wealth Advisors
Pennsylvania
$11.9M -$79.6K -269 -0.7%
PFA
133
Plotkin Financial Advisors
Maryland
$11.8M +$215K +727 +2%
BSG
134
Black Swift Group
Colorado
$11.7M -$10.3M -34,700 -49%
Walleye Trading
135
Walleye Trading
New York
$11.7M +$10.6M +35,926 New
RBC
136
Rye Brook Capital
Connecticut
$11.7M +$170K +575 +2%
SA
137
Sanctuary Advisors
Indiana
$11.7M +$790K +2,669 +8%
PF
138
Phoenix Financial
Israel
$11.7M -$29.6M -100,097 -74%
HWM
139
Horizon Wealth Management
Illinois
$11.6M +$82.9K +280 +0.8%
KWM
140
Kingsview Wealth Management
Oregon
$11.5M -$11.5K -39 -0.1%
AIM
141
Adapt Investment Managers
Switzerland
$11.2M +$10.2M +34,434 New
SS
142
SBI Securities
Japan
$11.1M -$150K -507 -1%
TAM
143
TCP Asset Management
Ohio
$11M -$528K -1,785 -5%
RMC
144
Ring Mountain Capital
California
$11M +$605K +2,045 +6%
Wealth Enhancement Advisory Services
145
Wealth Enhancement Advisory Services
Minnesota
$10.9M +$493K +1,666 +5%
CAG
146
Csenge Advisory Group
Florida
$10.8M -$715K -2,415 -7%
PS
147
Principal Securities
Iowa
$10.7M +$520K +1,757 +6%
PIM
148
Penobscot Investment Management
Massachusetts
$10.4M +$53.3K +180 +0.6%
JWCA
149
J.W. Cole Advisors
Florida
$10.4M -$848K -2,865 -8%
LFAS
150
Level Four Advisory Services
Texas
$10.4M +$1.76M +5,953 +23%
4 5
6
7 8

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.