VanEck Semiconductor

SMH • NASDAQ

VanEck Semiconductor is an exchange-traded fund on NASDAQ. As of Q3 2025, 1,038 institutional investors hold shares in this ETF, with total holdings valued at $15.4B. BANK OF AMERICA CORP /DE/ is the largest holder with a position valued at $4.1B.

Overview

Overview of institutional ownership in SMH as of Q3 2025

All Institutions

Institutions: 1,038
Value Held: $15.4B
Shares Held: 47.1M
Avg Position: $14.8M
Median Position: $891.7K

Hedge Funds

Hedge Funds: 39
Value Held: $607.6M
Shares Held: 1.9M
Avg Position: $15.6M
Median Position: $4.5M

Biggest Investors

Institutions with the largest positions in SMH as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$4.1B 0.31% of portfolio	12.7M shares	≤ Q2 2013 Held for 12y 5m+	$1.33T
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$827.6M 0.05% of portfolio	2.5M shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
L LPL Financial LLC Institution	-	$784.6M 0.23% of portfolio	2.4M shares	Q1 2014 Held for 11y 8m	$340.07B
UBS Group AG Institution	Sergio P. Ermotti CEO	$529.9M 0.10% of portfolio	1.6M shares	Q4 2014 Held for 10y 11m	$511.54B
B BNP PARIBAS ARBITRAGE, SA Institution	-	$470.6M 0.37% of portfolio	1.4M shares	Q1 2015 Held for 10y 8m	$126.06B
GOLDMAN SACHS GROUP INC Institution	David M. Solomon CEO	$396.4M 0.06% of portfolio	1.2M shares	≤ Q2 2013 Held for 12y 5m+	$691.34B
JPMORGAN CHASE & CO Institution	Jamie Dimon CEO	$395.1M 0.03% of portfolio	1.2M shares	≤ Q2 2013 Held for 12y 5m+	$1.56T
WELLS FARGO & COMPANY/MN Institution	Charles W. Scharf CEO	$265.6M 0.05% of portfolio	813.7K shares	Q3 2017 Held for 8y 2m	$488.50B
H HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Institution	-	$261.1M 0.49% of portfolio	800.0K shares	Q4 2019 Held for 5y 11m	$53.3B
BANK OF NOVA SCOTIA / Institution	Scott Thomson CEO	$246.4M 0.44% of portfolio	755.1K shares	Q1 2022 Held for 3y 8m	$56.3B

Net Capital Flow

Institutional buying and selling activity for SMH in Q3 2025

Traded: −$37.5M
Buyers: 545
Sellers: 376
Total Bought: +$1.9B
Total Sold: −$1.9B
Avg Position: $13.8M

Biggest Buyers

Institution	Net Bought	Current Position
BANK OF NOVA SCOTIA / Institution	+$245.5M +752.1K shares	$246.4M 755.1K shares
MORGAN STANLEY RIA/Wealth	+$230.1M +705.1K shares	$827.6M 2.5M shares
L LPL Financial LLC Institution	+$109.4M +335.3K shares	$784.6M 2.4M shares
C Capula Management Ltd Institution	+$105.1M +322.2K shares	$106.8M 327.4K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	+$94.4M +289.4K shares	$94.4M 289.4K shares
P PEAK6 LLC Institution	+$72.7M +222.7K shares	$72.7M 222.7K shares
BANK OF AMERICA CORP /DE/ Institution	+$60.2M +184.6K shares	$4.1B 12.7M shares
Q Quadrature Capital Ltd Institution	+$57.0M +174.8K shares	$58.7M 179.9K shares
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$55.0M +168.4K shares	$116.1M 355.9K shares
Hudson Bay Capital Management LP Hedge Fund•Multi-Strategy	+$45.8M +140.3K shares	$45.8M 140.3K shares

Biggest Sellers

Institution	Net Sold	Current Position
B BNP PARIBAS ARBITRAGE, SA Institution	−$223.9M −686.0K shares	$470.6M 1.4M shares
BANK OF MONTREAL /CAN/ Institution	−$185.6M −568.6K shares	$28.6M 87.7K shares
Main Management ETF Advisors, LLC Institution	−$162.7M −498.5K shares	$146.1M 447.6K shares
BARCLAYS PLC Institution	−$115.1M −352.7K shares	$21.3M 65.2K shares
H HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Institution	−$114.2M −350.0K shares	$261.1M 800.0K shares
B Belvedere Trading LLC Institution	−$105.5M −378.3K shares	Sold Off 0 shares
JPMORGAN CHASE & CO Institution	−$80.8M −247.6K shares	$395.1M 1.2M shares
M Migdal Insurance & Financial Holdings Ltd. Institution	−$71.6M −219.3K shares	$76.3M 233.7K shares
T Twin Tree Management, LP Hedge Fund•Vol Arbitrage	−$64.0M −196.1K shares	$29.4M 90.2K shares
GOLDMAN SACHS GROUP INC Institution	−$56.2M −172.1K shares	$396.4M 1.2M shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited SMH in Q3 2025

New Positions: 70
New Value: $164.1M
Exited Positions: 73
Exited Value: $357.6M

New Positions

Institution	Position Value
Jain Global LLC Hedge Fund•Multi-Strategy	$35.7M 109.3K shares
G Gemsstock Ltd. RIA/Wealth	$18.0M 55.1K shares
MIG Capital, LLC Hedge Fund•Long/Short	$17.1M 52.3K shares
POTOMAC FUND MANAGEMENT INC /ADV Long Only Manager	$12.3M 37.6K shares
GM Advisory Group, Inc. RIA/Wealth	$12.1M 37.0K shares
A ADAPT Investment Managers SA Institution	$11.2M 34.4K shares
Momentum Wealth Planning, LLC RIA/Wealth	$9.2M 28.2K shares
B BANCO BILBAO VIZCAYA ARGENTARIA, S.A. RIA/Wealth	$7.9M 24.3K shares
Lake Hills Wealth Management, LLC RIA/Wealth	$6.6M 20.3K shares
ADAPT WEALTH ADVISORS, LLC RIA/Wealth	$5.3M 16.4K shares

Exited Positions

Institution	Previous Position
B Belvedere Trading LLC Institution	$105.5M 378.3K shares
A ALLIANZ SE Institution	$55.5M 199.1K shares
S SOROS CAPITAL MANAGEMENT LLC Institution	$31.5M 113.1K shares
Marks Wealth, LLC RIA/Wealth	$19.2M 68.9K shares
Mivtachim The Workers Social Insurance Fund Ltd. Private Equity	$17.1M 61.3K shares
P PRUDENTIAL PLC Institution	$15.3M 54.9K shares
Parker Investment Management, LLC RIA/Wealth	$12.6M 45.0K shares
J Jump Financial, LLC Institution	$11.2M 40.1K shares
N Noked Israel Ltd Institution	$11.2M 40.0K shares
P Polymer Capital Management LLC Hedge Fund•Multi-Strategy	$10.3M 37.0K shares

Options Activity

Institutions with the largest Call and Put options positions in SMH as of Q3 2025

Call Positions: 54
Call Value: $6.7B
Put Positions: 79
Put Value: $13.5B

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$1.5B 46.1K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.2B 38.2K contracts
J JANE STREET GROUP, LLC Institution	$780.9M 23.9K contracts
P PEAK6 LLC Institution	$628.9M 19.3K contracts
B Belvedere Trading LLC Institution	$605.6M 18.6K contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$221.5M 6.8K contracts
W WOLVERINE TRADING, LLC Institution	$205.7M 6.4K contracts
CITIGROUP INC Institution	$154.8M 4.7K contracts
P Parallax Volatility Advisers, LLC Hedge Fund•Vol Arbitrage	$152.3M 4.7K contracts
UBS Group AG Institution	$151.1M 4.6K contracts

Put Positions

Institution	Position Value
BANK OF AMERICA CORP /DE/ Institution	$2.8B 85.1K contracts
J JANE STREET GROUP, LLC Institution	$2.2B 66.1K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$1.8B 55.9K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.5B 46.9K contracts
Marshall Wace LLP Institution	$645.4M 19.8K contracts
B Belvedere Trading LLC Institution	$610.9M 18.7K contracts
P Parallax Volatility Advisers, LLC Hedge Fund•Vol Arbitrage	$354.8M 10.9K contracts
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	$346.5M 10.6K contracts
CITIGROUP INC Institution	$293.3M 9.0K contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$273.7M 8.4K contracts

Most Committed Institutions

Institutions with SMH as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
E EHP Funds Inc. Institution	-	13.84% $10.1M	30.8K shares	Q2 2023 Held for 2y 5m	$72.6M
Rye Brook Capital LLC Hedge Fund•Long/Short	Carlos Gustavo Ribeiro Fernandes Managing Partner	13.01% $11.7M	35.9K shares	Q1 2021 Held for 4y 8m	$90.1M
Main Management Fund Advisors LLC Institution	Kim David Arthur CEO	8.88% $91.7M	280.9K shares	Q3 2022 Held for 3y 2m	$1.0B
P Portfolio Strategies, Inc. RIA/Wealth	Paul S Kirshenbaum President	8.17% $70.3M	215.5K shares	Q4 2019 Held for 5y 11m	$860.4M
S Saudi Central Bank Institution	-	7.47% $196.5M	602.0K shares	Q4 2023 Held for 1y 11m	$2.6B
Y Yahav Achim Ve Achayot - Provident Funds Management Co Ltd. Institution	-	7.43% $2.6M	8.0K shares	Q2 2025 Held for 5 months	$35.3M
Momentum Wealth Planning, LLC RIA/Wealth	David Ernest Flanders Managing Partner	7.41% $9.2M	28.2K shares	Q3 2025 Held for 2 months	$124.2M
K Kraft, Davis & Associates, LLC Institution	-	6.66% $26.8M	77.8K shares	Q2 2023 Held for 2y 5m	$401.8M
ABSOLUTE CAPITAL MANAGEMENT, LLC RIA/Wealth	Phillip Brenden Gebben CEO	6.58% $15.3M	46.8K shares	Q1 2024 Held for 1y 8m	$232.2M
Rezny Wealth Management, Inc. RIA/Wealth	Brian Charles Rezny President	6.30% $30.2M	92.5K shares	Q2 2021 Held for 4y 5m	$479.1M