VanEck Semiconductor ETF
1,207 hedge funds and large institutions have $17.7B invested in VanEck Semiconductor ETF in 2025 Q4 according to their latest regulatory filings, with 239 funds opening new positions, 464 increasing their positions, 332 reducing their positions, and 73 closing their positions.
227% more first-time investments, than exits
New positions opened: 239 | Existing positions closed: 73
40% more repeat investments, than reductions
Existing positions increased: 464 | Existing positions reduced: 332
22% more funds holding in top 10
Funds holding in top 10: 49 → 60 (+11)
15% more capital invested
Capital invested by funds: $15.4B → $17.7B (+$2.26B)
14% more funds holding
Funds holding: 1,062 → 1,207 (+145)
1.29% more ownership
Funds ownership: 46.39% → 47.68% (+1.3%)
49% less call options, than puts
Call options by funds: $8.06B | Put options by funds: $15.7B
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Citigroup
New York
|
+$259M |
| 2 |
HIIFS
Harel Insurance Investments & Financial Services
Ramat Gan,
Israel
|
+$258M |
| 3 |
Focus Partners Wealth
Boston,
Massachusetts
|
+$236M |
| 4 |
Two Sigma Investments
New York
|
+$223M |
| 5 |
LPL Financial
San Diego,
California
|
+$107M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BNP Paribas Financial Markets
Paris,
France
|
-$183M |
| 2 |
Bank of America
Charlotte,
North Carolina
|
-$169M |
| 3 |
MMEA
Main Management ETF Advisors
San Francisco,
California
|
-$133M |
| 4 |
Healthcare of Ontario Pension Plan (HOOPP) Trust Fund
Toronto,
Ontario, Canada
|
-$123M |
| 5 |
CM
Capula Management
Grand Cayman,
Cayman Islands
|
-$103M |
SMH Hedge Fund Activity: Q4 2025 in Review
1,207 of the 8,266 institutional investors tracked by Wall St. Rank reported a position in VanEck Semiconductor ETF (SMH) for Q4 2025, worth a combined $17.7B — up 15% from $15.4B a quarter earlier.
Buyers outnumbered sellers: 239 funds opened new SMH positions and 73 closed out — a net gain of 166 holders — while 464 added to existing stakes and 332 trimmed.
The largest buyer was Citigroup, adding an estimated $259M. The largest seller was BNP Paribas Financial Markets, cutting an estimated $183M.
- 1,207 institutional investors held VanEck Semiconductor ETF (SMH) as of Q4 2025, up from 1,062 in Q3 2025.
- Funds reported $17.7B of VanEck Semiconductor ETF stock for Q4 2025, up 15% quarter-over-quarter.
- 239 funds opened new VanEck Semiconductor ETF positions in Q4 2025 and 73 closed out, a net change of +166 holders.
- The largest VanEck Semiconductor ETF buyer in Q4 2025 was Citigroup, an estimated $259M added.
- The largest VanEck Semiconductor ETF seller in Q4 2025 was BNP Paribas Financial Markets, an estimated $183M sold.
Based on aggregated 13F filings for Q4 2025.