- Quarter end
- 31 Dec 2025
- the date the book describes
- Filed
- 17 Feb 2026
- latest of these filings; the earliest 10 Feb 2026
- Managers listing it
- 19
- at least, of 95 tracked, among listed positions
- Comparable managers
- 92
- filed both Q3 2025 and Q4 2025; 5 listed it in both
- Shares listed
- 1,946,469
- combined, among listed positions
- Reported value
- $701m
- combined, at the quarter end
Among the 92 comparable managers: 12 buyers (opened or added shares) and 12 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was +224,367.
Managers listing SMH in Q4 2025
19 of 19 holders
Largest increases and reductions, by shares
Increases
- Two Sigma Investments LPnew position · 636,751 shares now+636,751
- Citadel Advisors LLCnew position · 159,063 shares now+159,063
- Balyasny Asset Management LLCexisting position · 489,873 shares now+133,993
- Squarepoint Ops LLCexisting position · 182,905 shares now+132,905
- Millennium Management LLCexisting position · 41,572 shares now+38,773
Reductions
- Hudson Bay Capital Management LPexisting position · 9,280 shares now-131,062
- Verition Fund Management LLCexisting position · 27,107 shares now-74,939
- Susquehanna International Group LLPexisting position · 159,370 shares now-68,745
- Tudor Investment Corpexisting position · 77,736 shares now-56,660
- Man Group PLCexisting position · 750 shares now-20,517
New positions and exits
New (5)
Exited (5)
- Renaissance Technologies LLCwas $94m
- D. E. Shaw & Co.was $48m
- Jane Street Group LLCwas $29m
- Soros Fund Management LLCwas $12m
- Schonfeld Strategic Advisors LLCwas $3.6m
Ownership over time
Tracked managers listing it, at least.
| Quarter | Holders | Reported value | Buyers | Sellers |
|---|---|---|---|---|
| Q2 2016 | 1 | $41m | n.a. | n.a. |
| Q3 2016 | 2 | $63m | n.a. | n.a. |
| Q4 2016 | 2 | $13m | n.a. | n.a. |
| Q1 2017 | 1 | $17m | n.a. | n.a. |
| Q2 2017 | 2 | $23m | n.a. | n.a. |
| Q3 2017 | 2 | $61m | n.a. | n.a. |
| Q4 2017 | 4 | $46m | n.a. | n.a. |
| Q1 2018 | 3 | $95m | n.a. | n.a. |
| Q2 2018 | 3 | $155m | n.a. | n.a. |
| Q3 2018 | 1 | $3.8m | n.a. | n.a. |
| Q4 2018 | 3 | $51m | n.a. | n.a. |
| Q1 2019 | 1 | $26m | n.a. | n.a. |
| Q2 2019 | 1 | $9.9m | n.a. | n.a. |
| Q3 2019 | 2 | $32m | n.a. | n.a. |
| Q4 2019 | 1 | $20m | n.a. | n.a. |
| Q1 2020 | 2 | $60m | n.a. | n.a. |
| Q2 2020 | 2 | $34m | n.a. | n.a. |
| Q3 2020 | 3 | $97m | n.a. | n.a. |
| Q4 2020 | 4 | $100m | n.a. | n.a. |
| Q1 2021 | 5 | $358m | n.a. | n.a. |
| Q2 2021 | 5 | $210m | n.a. | n.a. |
| Q3 2021 | 2 | $24m | n.a. | n.a. |
| Q4 2021 | 2 | $36m | n.a. | n.a. |
| Q1 2022 | 4 | $212m | n.a. | n.a. |
| Q2 2022 | 3 | $108m | n.a. | n.a. |
| Q3 2022 | 3 | $292m | n.a. | n.a. |
| Q4 2022 | 6 | $231m | n.a. | n.a. |
| Q1 2023 | 5 | $446m | n.a. | n.a. |
| Q2 2023 | 2 | $478m | n.a. | n.a. |
| Q3 2023 | 4 | $596m | n.a. | n.a. |
| Q4 2023 | 5 | $990m | 4 | 1 |
| Q1 2024 | 8 | $1.8bn | 6 | 3 |
| Q2 2024 | 7 | $1.4bn | 4 | 4 |
| Q3 2024 | 5 | $703m | 3 | 3 |
| Q4 2024 | 9 | $682m | 7 | 4 |
| Q1 2025 | 9 | $477m | 7 | 2 |
| Q2 2025 | 6 | $503m | 3 | 3 |
| Q3 2025 | 7 | $356m | 6 | 1 |
| Q4 2025 | 8 | $528m | 12 | 12 |
| Q1 2026 | 8 | $478m | 14 | 11 |
| Q2 2026 | 9 | $1.9bn | 15 | 15 |
Compare with…
Holders over time, buyers and sellers, and the managers holding both, side by side for up to four stocks.
How much of the picture this is
A 13F is a manager’s long US-listed equity book at a quarter end, filed up to 45 days later. It shows no shorts, cash, bonds or performance, and it is never today’s portfolio. Large books are listed to their largest positions, so a manager missing from this table may still hold a small position below that line. These are 95 tracked managers, not the institutional market.
Which funds own SMH, latest filings →Back to the 13F Explorer →