Vault-13

VANECK ETF TRUST SMH

SEMICONDUCTR ETF · ETP · CUSIP 92189F676 · ISIN US92189F6768

921 institutional holders -49 vs Q4 2024
49,585,80549.6m shares reported held*
$10.0bnreported value*
93 new 348 added 315 reduced 134 sold out net sold ≈ $404.9m (-95.3k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($6.6m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $202.45. Options: 43 managers hold calls ($4.6bn notional), 64 hold puts ($7.5bn).

Trends to Q1 2025

Institutional holders

Managers reporting a position, each quarter

05001kQ3 22: 390Q4 22: 432Q1 23: 488Q2 23: 529Q3 23: 560Q4 23: 668Q1 24: 775Q2 24: 859Q3 24: 882Q4 24: 970Q1 25: 921921Q3 22Q1 23Q3 23Q1 24Q3 24Q1 25
Numbers
QuarterHolders
Q3 2022390
Q4 2022432
Q1 2023488
Q2 2023529
Q3 2023560
Q4 2023668
Q1 2024775
Q2 2024859
Q3 2024882
Q4 2024970
Q1 2025921

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
1k01kQ2 23: 265 bought or addedQ2 23: 225 cut or sold outQ3 23: 283 bought or addedQ3 23: 201 cut or sold outQ3 23Q4 23: 364 bought or addedQ4 23: 216 cut or sold outQ1 24: 468 bought or addedQ1 24: 246 cut or sold outQ1 24Q2 24: 516 bought or addedQ2 24: 269 cut or sold outQ3 24: 477 bought or addedQ3 24: 340 cut or sold outQ3 24Q4 24: 486 bought or addedQ4 24: 343 cut or sold outQ1 25: 441 bought or addedQ1 25: 449 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q2 2023265225
Q3 2023283201
Q4 2023364216
Q1 2024468246
Q2 2024516269
Q3 2024477340
Q4 2024486343
Q1 2025441449

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$2.5bn$5bn$7.5bn$10bnQ2 24 calls: $5.1bnQ2 24 puts: $7.4bnQ2 24P/C 1.46Q3 24 calls: $5.5bnQ3 24 puts: $9.6bnQ3 24P/C 1.76Q4 24 calls: $4.8bnQ4 24 puts: $6.7bnQ4 24P/C 1.40Q1 25 calls: $4.6bnQ1 25 puts: $7.5bnQ1 25P/C 1.62
Numbers
QuarterCallsPutsP/C
Q2 2024$5.1bn$7.4bn1.46
Q3 2024$5.5bn$9.6bn1.76
Q4 2024$4.8bn$6.7bn1.40
Q1 2025$4.6bn$7.5bn1.62

Biggest buyers

Main Management ETF Advisors, LLC Added +1,830,400+1.8m
BANK OF AMERICA CORP /DE/ Added +1,145,552+1.1m
GOLDMAN SACHS GROUP INC Added +549,373+549.4k
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Added +450,000+450.0k
UBS Group AG Added +384,609+384.6k
MILLENNIUM MANAGEMENT LLC Added +355,481+355.5k
CITIGROUP INC Added +335,005+335.0k
MIRAE ASSET SECURITIES (USA) INC. New +200,478+200.5k
MORGAN STANLEY Added +198,837+198.8k
RENAISSANCE TECHNOLOGIES LLC Added +168,100+168.1k

Biggest sellers

JPMORGAN CHASE & CO Reduced -682,785-682.8k
BANK OF NOVA SCOTIA Reduced -674,901-674.9k
Saudi Central Bank Sold out -602,006-602.0k
Belvedere Trading LLC Sold out -601,602-601.6k
BANK OF MONTREAL /CAN/ Reduced -446,982-447.0k
D. E. Shaw & Co., Inc. Reduced -433,454-433.5k
Fisher Asset Management, LLC Reduced -423,186-423.2k
Walleye Capital LLC Sold out -303,590-303.6k
JANE STREET GROUP, LLC Reduced -295,722-295.7k
MEITAV INVESTMENT HOUSE LTD Reduced -247,584-247.6k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $833.6m3.9m shares
CITADEL ADVISORS LLC Reduced $772.2m3.7m shares
Twin Tree Management, LP Added $415.2m2.0m shares
JANE STREET GROUP, LLC Reduced $376.5m1.8m shares
BNP PARIBAS FINANCIAL MARKETS First filing $255.1m12.1k shares
Belvedere Trading LLC Added $247.1m1.2m shares
CAPITAL FUND MANAGEMENT S.A. Added $212.8m1.0m shares
UBS Group AG Added $210.7m996.3k shares
MILLENNIUM MANAGEMENT LLC Added $195.4m923.9k shares
PEAK6 LLC Reduced $155.6m735.7k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $1.4bn6.4m shares
CITADEL ADVISORS LLC Added $1.0bn4.8m shares
JANE STREET GROUP, LLC Added $1.0bn4.8m shares
Apollo Management Holdings, L.P. Added $606.9m2.9m shares
Belvedere Trading LLC Added $318.6m1.5m shares
BANK OF AMERICA CORP /DE/ Reduced $300.4m1.4m shares
Parallax Volatility Advisers, L.P. Added $299.0m1.4m shares
CAPITAL FUND MANAGEMENT S.A. Reduced $213.0m1.0m shares
Atreides Management, LP New $211.5m1.0m shares
UBS Group AG Added $199.6m943.9k shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Holders, Q1 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.24% of their portfolio CHARLOTTE, NC 12,902,76712.9m $2.7bn $2.7bn 0.24% Added +1.1m +1,145,552
2 Main Management ETF Advisors, LLC 6.79% of their portfolio SAN FRANCISCO, CA 2,803,1402.8m $139.6m $139.6m 6.79% Added +1.8m +1,830,400
3 GOLDMAN SACHS GROUP INC 0.11% of their portfolio NEW YORK, NY 2,676,0852.7m $565.9m $565.9m 0.11% Added +549.4k +549,373
4 UBS Group AG 0.10% of their portfolio ZURICH, V8 2,146,4352.1m $453.9m $453.9m 0.10% Added +384.6k +384,609
5 BNP PARIBAS FINANCIAL MARKETS 0.32% of their portfolio PARIS, I0 1,991,7032.0m $421.2m $421.2m 0.32% First filing
6 LPL Financial LLC 0.16% of their portfolio FORT MILL, SC 1,903,2521.9m $402.5m $402.5m 0.16% Reduced -10.3k -10,337
7 MORGAN STANLEY 0.03% of their portfolio NEW YORK, NY 1,800,0401.8m $380.7m $380.7m 0.03% Added +198.8k +198,837
8 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.83% of their portfolio TORONTO, A6 1,764,0001.8m $373.0m $373.0m 0.83% Added +450.0k +450,000
9 JANE STREET GROUP, LLC 0.44% of their portfolio NEW YORK, NY 1,147,8171.1m $242.7m $242.7m 0.44% Reduced -295.7k -295,722
10 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 754,596754.6k $159.6m $159.6m 0.01% Reduced -682.8k -682,785
11 CITIGROUP INC 0.10% of their portfolio NEW YORK, NY 642,537642.5k $135.9m $135.9m 0.10% Added +335.0k +335,005
12 WELLS FARGO & COMPANY/MN 0.03% of their portfolio SAN FRANCISCO, CA 618,245618.2k $130.7m $130.7m 0.03% Reduced -16.3k -16,316
13 MENORA MIVTACHIM HOLDINGS LTD. 0.68% of their portfolio Ramat Gan, L3 496,500496.5k $105.0m $105.0m 0.68% Added +161.3k +161,350
14 RAYMOND JAMES FINANCIAL INC 0.04% of their portfolio ST. PETERSBURG, FL 494,158494.2k $104.5m $104.5m 0.04% Reduced -102.1k -102,054
15 ROYAL BANK OF CANADA 0.02% of their portfolio TORONTO, A6 459,250459.2k $97.1m $97.1m 0.02% Reduced -52.7k -52,662
16 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.08% of their portfolio MILWAUKEE, WI 447,294447.3k $94.6m $94.6m 0.08% Added +87.4k +87,395
17 Cetera Investment Advisers 0.16% of their portfolio SCHAUMBURG, IL 389,916389.9k $82.5m $82.5m 0.16% Added +17.9k +17,940
18 MILLENNIUM MANAGEMENT LLC 0.08% of their portfolio NEW YORK, NY 384,765384.8k $81.4m $81.4m 0.08% Added +355.5k +355,481
19 MEITAV INVESTMENT HOUSE LTD 1.47% of their portfolio BENE-BERAQ, L3 377,391377.4k $79.8m $79.8m 1.47% Reduced -247.6k -247,584
20 Main Management Fund Advisors LLC 11.48% of their portfolio SAN FRANCISCO, CA 370,500370.5k $78.3m $78.3m 11.48% Added +31.8k +31,800
21 Harel Insurance Investments & Financial Services Ltd. 0.99% of their portfolio Ramat Gan, L3 356,017356.0k $75.3m $75.3m 0.99% Added +12.8k +12,811
22 Main Management LLC 5.56% of their portfolio SAN FRANCISCO, CA 298,421298.4k $63.1m $63.1m 5.56% Reduced -14.6k -14,566
23 AMERIPRISE FINANCIAL INC 0.02% of their portfolio MINNEAPOLIS, MN 286,493286.5k $60.6m $60.6m 0.02% Reduced -85.4k -85,448
24 ENVESTNET ASSET MANAGEMENT INC 0.02% of their portfolio Berwyn, PA 282,967283.0k $59.8m $59.8m 0.02% Added +7.4k +7,393
25 Rockefeller Capital Management L.P. 0.14% of their portfolio NEW YORK, NY 276,602276.6k $58.5m $58.5m 0.14% Added +38.2k +38,210
26 MML INVESTORS SERVICES, LLC 0.18% of their portfolio SPRINGFIELD, MA 256,579256.6k $54.3m $54.3m 0.18% Reduced -330 -330
27 RENAISSANCE TECHNOLOGIES LLC 0.08% of their portfolio NEW YORK, NY 252,067252.1k $53.3m $53.3m 0.08% Added +168.1k +168,100
28 OSAIC HOLDINGS, INC. 0.12% of their portfolio SCOTTSDALE, AZ 249,662249.7k $52.8m $52.8m 0.12% Added +51.7k +51,655
29 COMMONWEALTH EQUITY SERVICES, LLC 0.07% of their portfolio WALTHAM, MA 230,496230.5k $48.7m $48.7m 0.07% Reduced -23.6k -23,602
30 Portfolio Strategies, Inc. 7.49% of their portfolio MONTVALE, NJ 228,751228.8k $48.4m $48.4m 7.49% Reduced -29.3k -29,310
31 Fisher Asset Management, LLC 0.02% of their portfolio PLANO, TX 209,917209.9k $44.4m $44.4m 0.02% Reduced -423.2k -423,186
32 MIRAE ASSET SECURITIES (USA) INC. 1.82% of their portfolio NEW YORK, NY 200,478200.5k $42.4m $42.4m 1.82% New
33 Parallax Volatility Advisers, L.P. 1.33% of their portfolio San Francisco, CA 195,378195.4k $41.3m $41.3m 1.33% Added +132.7k +132,659
34 Cambridge Investment Research Advisors, Inc. 0.14% of their portfolio FAIRFIELD, IA 192,786192.8k $40.8m $40.8m 0.14% Reduced -38.9k -38,896
35 Diversified Enterprises, LLC 3.23% of their portfolio Wilmington, DE 181,361181.4k $38.4m $38.4m 3.23% Added +9.0k +9,048
36 Verition Fund Management LLC 0.21% of their portfolio GREENWICH, CT 172,906172.9k $36.6m $36.6m 0.21% Added +163.5k +163,540
37 BlackRock, Inc. 0.00% of their portfolio New York, NY 163,808163.8k $34.6m $34.6m 0.00% Reduced -121.6k -121,618
38 Moss Adams Wealth Advisors LLC 3.59% of their portfolio SEATTLE, WA 161,208161.2k $34.1m $34.1m 3.59% Reduced -1.4k -1,385
39 Walleye Trading LLC 0.95% of their portfolio NEW YORK, NY 157,948157.9k $33.4m $33.4m 0.95% Added +66.6k +66,577
40 CAPITAL FUND MANAGEMENT S.A. 0.42% of their portfolio PARIS, I0 154,955155.0k $32.8m $32.8m 0.42% New
41 STIFEL FINANCIAL CORP 0.03% of their portfolio ST. LOUIS, MO 143,515143.5k $30.4m $30.4m 0.03% Added +16.7k +16,739
42 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.05% of their portfolio BALA CYNWYD, PA 136,499136.5k $28.9m $28.9m 0.05% Reduced -110.6k -110,634
43 Capula Management Ltd 0.20% of their portfolio Grand Cayman, E9 128,713128.7k $27.2m $27.2m 0.20% Not comparable
44 Aragon Global Management, LP 9.97% of their portfolio MIAMI, FL 122,630122.6k $25.9m $25.9m 9.97% Unchanged
45 Miller Investment Management, LP 2.78% of their portfolio WEST CONSHOHOCKEN, PA 118,907118.9k $25.1m $25.1m 2.78% Reduced -178 -178
46 NewEdge Wealth, LLC 0.45% of their portfolio STAMFORD, CT 118,450118.5k $25.0m $25.0m 0.45% Reduced -6.2k -6,171
47 Jump Financial, LLC 0.37% of their portfolio Chicago, IL 116,164116.2k $24.6m $24.6m 0.37% Added +71.6k +71,610
48 TruWealth Advisors, LLC 1.34% of their portfolio Metairie, LA 105,306105.3k $22.3m $22.3m 1.34% Added +5.0k +4,987
49 Quadrature Capital Ltd 0.49% of their portfolio LONDON, X0 104,105104.1k $22.0m $22.0m 0.49% New
50 Nan Shan Life Insurance Co., Ltd. 0.51% of their portfolio Taipei City, F5 103,051103.1k $21.8m $21.8m 0.51% Reduced -149.7k -149,676
51 TWO SIGMA INVESTMENTS, LP 0.05% of their portfolio NEW YORK, NY 102,986103.0k $21.8m $21.8m 0.05% New
52 J.Safra Asset Management Corp 1.73% of their portfolio NEW YORK, NY 100,898100.9k $21.3m $21.3m 1.73% Added +2.5k +2,454
53 Gerber Kawasaki Wealth & Investment Management 0.90% of their portfolio SANTA MONICA, CA 95,11795.1k $20.1m $20.1m 0.90% Added +14.8k +14,762
54 Squarepoint Ops LLC 0.05% of their portfolio NEW YORK, NY 94,86394.9k $20.1m $20.1m 0.05% Reduced -209.8k -209,830
55 RiverFront Investment Group, LLC 0.44% of their portfolio RICHMOND, VA 93,49393.5k $19.8m $19.8m 0.44% Added +3.6k +3,558
56 Rezny Wealth Management, Inc. 5.10% of their portfolio Fort Myers, FL 93,09893.1k $19.7m $19.7m 5.10% Added +1.2k +1,240
57 TUDOR INVESTMENT CORP ET AL 0.17% of their portfolio STAMFORD, CT 91,93791.9k $19.4m $19.4m 0.17% Reduced -25.0k -25,047
58 Private Advisor Group, LLC 0.12% of their portfolio MORRISTOWN, NJ 89,96490.0k $19.0m $19.0m 0.12% Reduced -11.2k -11,178
59 Round Rock Advisors LLC 3.50% of their portfolio WILTON, CT 89,23689.2k $18.9m $18.9m 3.50% Added +11.0k +10,953
60 CITADEL ADVISORS LLC 0.02% of their portfolio MIAMI, FL 88,68788.7k $18.8m $18.8m 0.02% Added +38.1k +38,121
61 Twin Tree Management, LP 0.41% of their portfolio DALLAS, TX 88,36988.4k $18.7m $18.7m 0.41% Reduced -193.2k -193,246
62 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 86,61686.6k $18.3m $18.3m 0.01% Reduced -447.0k -446,982
63 BLAIR WILLIAM & CO/IL 0.06% of their portfolio CHICAGO, IL 86,39186.4k $18.3m $18.3m 0.06% Added +9.0k +9,030
64 Thrivent Financial for Lutherans 0.05% of their portfolio Minneapolis, MN 84,97285.0k $21.5m $21.5m 0.05% Reduced -241.1k -241,116
65 Atria Wealth Solutions, Inc. 0.22% of their portfolio NEW YORK, NY 84,54584.5k $17.9m $17.9m 0.22% Reduced -8.3k -8,266
66 JONES FINANCIAL COMPANIES LLLP 0.02% of their portfolio DES PERES, MO 83,91983.9k $17.8m $17.8m 0.02% Added +24.5k +24,515
67 Qube Research & Technologies Ltd 0.03% of their portfolio LONDON, X0 82,02482.0k $17.3m $17.3m 0.03% New
68 Kestra Advisory Services, LLC 0.08% of their portfolio AUSTIN, TX 81,41581.4k $17.2m $17.2m 0.08% Reduced -17.9k -17,893
69 Yarbrough Capital, LLC 0.74% of their portfolio FRANKLIN, TN 81,14881.1k $17.2m $17.2m 0.74% Added +23.4k +23,360
70 Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD 1.39% of their portfolio Tel Aviv, L3 80,19180.2k $16.9m $16.9m 1.39% Reduced -38.3k -38,269
71 Mariner, LLC 0.03% of their portfolio Overland Park, KS 78,19378.2k $16.5m $16.5m 0.03% Added +29.2k +29,173
72 MARSHALL WACE, LLP 0.02% of their portfolio LONDON, X0 76,65476.7k $16.2m $16.2m 0.02% Added +8.5k +8,507
73 Wealthfront Advisers LLC 0.04% of their portfolio Palo Alto, CA 74,90074.9k $15.8m $15.8m 0.04% Reduced -8.4k -8,410
74 Orion Portfolio Solutions, LLC 0.08% of their portfolio Omaha, NE 74,57774.6k $16.7m $16.7m 0.08% Added +42.8k +42,760
75 Kozak & Associates, Inc. 3.71% of their portfolio HIGHLANDS RANCH, CO 73,74173.7k $14.9m $14.9m 3.71% Added +4.0k +3,965
76 Principle Wealth Partners LLC 1.07% of their portfolio MADISON, CT 70,69570.7k $15.0m $15.0m 1.07% Added +8.9k +8,863
77 BARCLAYS PLC 0.01% of their portfolio LONDON, X0 69,38969.4k $14.7m $14.7m 0.01% Reduced -46.0k -46,036
78 LYELL WEALTH MANAGEMENT, LP 1.35% of their portfolio MENLO PARK, CA 68,49568.5k $14.5m $14.5m 1.35% Added +5.9k +5,907
79 TD Waterhouse Canada Inc. 0.12% of their portfolio TORONTO, A6 68,04268.0k $14.4m $14.4m 0.12% Reduced -1.2k -1,174
80 Meridian Wealth Management, LLC 0.69% of their portfolio LEXINGTON, KY 67,73967.7k $14.3m $14.3m 0.69% Reduced -1.2k -1,247
81 D. E. Shaw & Co., Inc. 0.02% of their portfolio New York, NY 67,55367.6k $14.3m $14.3m 0.02% Reduced -433.5k -433,454
82 WESPAC Advisors SoCal, LLC 3.68% of their portfolio Pasadena, CA 66,72066.7k $14.1m $14.1m 3.68% Reduced -9.5k -9,477
83 Janney Montgomery Scott LLC 0.04% of their portfolio PHILADELPHIA, PA 65,84765.8k $13.9m $13.9m 0.04% Reduced -1.6k -1,568
84 GREAT VALLEY ADVISOR GROUP, INC. 0.30% of their portfolio WILMINGTON, DE 65,26565.3k $13.8m $13.8m 0.30% Added +11.8k +11,831
85 Horizon Wealth Management, LLC 2.32% of their portfolio LA GRANGE, IL 65,13965.1k $13.8m $13.8m 2.32% Added +984 +984
86 IMC-Chicago, LLC 0.52% of their portfolio CHICAGO, IL 63,70263.7k $13.5m $13.5m 0.52% Added +41.7k +41,718
87 Lido Advisors, LLC 0.07% of their portfolio Los Angeles, CA 58,75858.8k $12.4m $12.4m 0.07% Added +4.2k +4,184
88 Cavalier Investments, LLC 4.21% of their portfolio ALPHARETTA, GA 58,53258.5k $12.4m $12.4m 4.21% Added +36.9k +36,862
89 Prospera Financial Services Inc 0.28% of their portfolio Dallas, TX 57,19157.2k $12.1m $12.1m 0.28% Reduced -322 -322
90 Rothschild Capital Partners, LLC 3.03% of their portfolio NEW YORK, NY 54,66454.7k $11.6m $11.6m 3.03% Added +2.5k +2,463
91 Woodline Partners LP 0.07% of their portfolio San Francisco, CA 54,00654.0k $11.4m $11.4m 0.07% Added +46.7k +46,706
92 HARBOUR INVESTMENTS, INC. 0.33% of their portfolio MADISON, WI 53,80453.8k $11.4m $11.4m 0.33% Reduced -4.6k -4,577
93 Sowell Financial Services LLC 0.51% of their portfolio NORTH LITTLE ROCK, AR 53,26253.3k $11.3m $11.3m 0.51% Added +3.8k +3,789
94 IFP Advisors, Inc 0.34% of their portfolio TAMPA, FL 52,88152.9k $11.2m $11.2m 0.34% Added +1.5k +1,523
95 Focus Partners Wealth 0.03% of their portfolio ST LOUIS, MO 52,87252.9k $11.2m $11.2m 0.03% Added +6.6k +6,590
96 Merit Financial Group, LLC 0.17% of their portfolio ALPHARETTA, GA 52,15652.2k $11.0m $11.0m 0.17% Added +5.3k +5,345
97 AVANTAX ADVISORY SERVICES, INC. 0.07% of their portfolio DALLAS, TX 51,95552.0k $11.0m $11.0m 0.07% Added +13.0k +13,042
98 Concurrent Investment Advisors, LLC 0.27% of their portfolio Tampa, FL 51,86751.9k $11.0m $11.0m 0.27% Reduced -2.0k -2,015
99 SCOTIA CAPITAL INC. 0.06% of their portfolio TORONTO, A6 51,79051.8k $11.0m $11.0m 0.06% Added +2.1k +2,077
100 Mason & Associates Inc 2.71% of their portfolio LOS ANGELES, CA 51,56351.6k $10.9m $10.9m 2.71% Reduced -3.3k -3,286