VanEck ETF Trust - VanEck Semiconductor ETF
US ˙ NasdaqGM ˙ US92189F6768

SecuritySMH / VanEck ETF Trust - VanEck Semiconductor ETF
InstitutionHAP Trading, LLC
Latest Disclosed Ownership40,961 shares
Latest Disclosed Value $ 11,423,204
HAP Trading, LLC ownership in SMH / VanEck ETF Trust - VanEck Semiconductor ETF

On August 13, 2025 - HAP Trading, LLC filed a 13F-HR form disclosing ownership of 40,961 shares of VanEck ETF Trust - VanEck Semiconductor ETF (US:SMH) valued at $11,423,204 USD as of June 30, 2025. The entity filed a previous 13F-HR on May 14, 2025 disclosing 0 shares of VanEck ETF Trust - VanEck Semiconductor ETF. The current value of the position is $25,704,256 USD.

HAP Trading, LLC has a history of taking positions in derivatives of the underlying security (SMH) in the form of stock options. The firm currently holds call options representing 47,200 of underlying shares valued at $511,550 USD and put options representing 119,100 of underlying shares valued at $224,367 USD .

Note: prior versions of this page mistakenly stated that the share values represented the number of options, not the number of underlying shares. For more information on the data backing these reports, please see the SEC document Frequently Asked Questions About Form 13F.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Institutional Put/Call Ratios
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In addition to reporting standard equity and debt issues, institutions with more than 100MM assets under management must also disclose their put and call option holdings. Since put options generally indicate negative sentiment, and call options indicate positive sentiment, we can get a sense of the overall institutional sentiment by plotting the ratio of puts to calls. The chart to the right plots the historical put/call ratio for this instrument.

Using Put/Call Ratio as an indicator of investor sentiment overcomes one of the key deficiencies of using total institutional ownership, which is that a significant amount of assets under management are invested passively to track indices. Passively-managed funds do not typically buy options, so the put/call ratio indicator more closely tracks the sentiment of actively-managed funds.

SMH / VanEck ETF Trust - VanEck Semiconductor ETF Historical Put/Call Ratio
Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2025-08-13 2025-06-30 13F VANECK ETF TRUST SEMICONDUCTR ETF 92189F676 40,961 40,961 11,423 1.0803
2025-05-14 2025-03-31 13F VANECK ETF TRUST SEMICONDUCTR ETF 92189F676 0 -11,715 -100.00 0 -100.00
2025-02-13 2024-12-31 13F VANECK ETF TRUST SEMICONDUCTR ETF 92189F676 11,715 11,715 2,837 0.2460
2024-08-14 2024-06-30 13F VANECK ETF TRUST SEMICONDUCTR ETF 92189F676 0 -53,899 -100.00 0 -100.00
2024-05-13 2024-03-31 13F VANECK ETF TRUST SEMICONDUCTR ETF 92189F676 53,899 53,899 12,127 1.3886
2023-02-14 2022-12-31 13F VANECK ETF TRUST SEMICONDUCTR ETF 92189F676 0 -77,236 -100.00 0 -100.00
2022-11-14 2022-09-30 13F VANECK ETF TRUST SEMICONDUCTR ETF 92189F676 77,236 77,236 14,298 0.9560
2021-08-11 2021-06-30 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET 92189F676 0 -10,275 -100.00 0 -100.00
2021-05-14 2021-03-31 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET 92189F676 10,275 10,275 2,502 0.1339
2021-02-16 2020-12-31 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET 92189F676 0 -14,704 -100.00 0 -100.00
2020-11-13 2020-09-30 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET 92189F676 14,704 14,704 2,561 0.1262
2019-11-12 2019-09-30 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET 92189F676 0 -35,957 -100.00 0 -100.00
2019-08-14 2019-06-30 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET 92189F676 35,957 35,957 3,962 0.3045
2019-05-10 2019-03-31 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET 92189F676 0 -14,742 -100.00 0 -100.00
2019-02-12 2018-12-31 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET 92189F676 14,742 14,742 1,287 0.0811
2017-11-08 2017-09-30 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET 92189F676 0 -16,829 -100.00 0 -100.00
2017-08-10 2017-06-30 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET 92189F676 16,829 16,829 1,378 0.0736
Disclosed Call Options
File
Date		 Effective
Date		Form Security Class ID Opt Avg Share
Price		 Shares ΔShares
(%)		 Value
(x1000)		 ΔValue
(%)		 Prior Allocation
(%)		 Allocation
(%)		 ΔAllocation
(%)		 Cost Basis
(x1000)		 Profit
(x1000)		 Return
(%)
2025-08-13 2025-06-30 13F VANECK ETF TRUST SEMICONDUCTR ETF Call 47,200 -76.82 512 -66.51 n/a n/a n/a
2025-05-14 2025-03-31 13F VANECK ETF TRUST SEMICONDUCTR ETF Call 203,600 569.74 1,526 482.44 n/a n/a n/a
2025-02-13 2024-12-31 13F VANECK ETF TRUST SEMICONDUCTR ETF Call 30,400 28.81 262 -51.03 n/a n/a n/a
2024-11-12 2024-09-30 13F VANECK ETF TRUST SEMICONDUCTR ETF Call 23,600 -21.59 535 -44.15 n/a n/a n/a
2024-08-14 2024-06-30 13F VANECK ETF TRUST SEMICONDUCTR ETF Call 30,100 -64.42 959 24.25 n/a n/a n/a
2024-05-13 2024-03-31 13F VANECK ETF TRUST SEMICONDUCTR ETF Call 84,600 15.73 772 -47.83 n/a n/a n/a
2024-02-14 2023-12-31 13F VANECK ETF TRUST SEMICONDUCTR ETF Call 73,100 -14.20 1,479 176.78 n/a n/a n/a
2023-11-09 2023-09-30 13F VANECK ETF TRUST SEMICONDUCTR ETF Call 85,200 -7.09 535 -53.52 n/a n/a n/a
2023-08-11 2023-06-30 13F VANECK ETF TRUST SEMICONDUCTR ETF Call 91,700 188.36 1,150 n/a n/a n/a
2023-05-12 2023-03-31 13F VANECK ETF TRUST SEMICONDUCTR ETF Call 31,800 -58.32 1 n/a n/a n/a
2023-02-14 2022-12-31 13F VANECK ETF TRUST SEMICONDUCTR ETF Call 76,300 -45.07 0 -100.00 n/a n/a n/a
2022-11-14 2022-09-30 13F VANECK ETF TRUST SEMICONDUCTR ETF Call 138,900 50.32 682 -45.13 n/a n/a n/a
2022-08-12 2022-06-30 13F VANECK ETF TRUST SEMICONDUCTR ETF Call 92,400 381.25 1,243 306.21 n/a n/a n/a
2022-05-12 2022-03-31 13F VANECK ETF TRUST SEMICONDUCTR ETF Call 19,200 -11.93 306 -60.26 n/a n/a n/a
2022-02-14 2021-12-31 13F VANECK ETF TRUST SEMICONDUCTR ETF Call 21,800 -41.87 770 -62.48 n/a n/a n/a
2021-11-10 2021-09-30 13F VANECK ETF TRUST SEMICONDUCTR ETF Call 37,500 -79.29 2,052 -50.36 n/a n/a n/a
2021-08-11 2021-06-30 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET Call 181,100 388.14 4,134 105.77 n/a n/a n/a
2021-05-14 2021-03-31 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET Call 37,100 34.42 2,009 71.12 n/a n/a n/a
2021-02-16 2020-12-31 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET Call 27,600 1,174 n/a n/a n/a
2020-11-13 2020-09-30 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET Call 0 -100.00 0 -100.00 n/a n/a n/a
2020-08-10 2020-06-30 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET Call 26,400 283 n/a n/a n/a
2020-05-08 2020-03-31 13F VANECK VECTORS ETF TRUST SEMICONDUCTOR ET Call 0 -100.00 0 -100.00 n/a n/a n/a
2020-02-11 2019-12-31 13F VANECK VECTORS ETF TRUST SEMICONDUCTOR ET Call 14,600 -91.09 85 -93.46 n/a n/a n/a
2019-11-12 2019-09-30 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET Call 163,800 0.86 1,300 139.41 n/a n/a n/a
2019-08-14 2019-06-30 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET Call 162,400 24.06 543 -39.33 n/a n/a n/a
2019-05-10 2019-03-31 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET Call 130,900 -69.21 895 168.77 n/a n/a n/a
2019-02-12 2018-12-31 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET Call 425,200 598.19 333 2.15 n/a n/a n/a
2018-11-09 2018-09-30 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET Call 60,900 -43.61 326 232.65 n/a n/a n/a
2018-08-13 2018-06-30 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET Call 108,000 217.65 98 476.47 n/a n/a n/a
2018-05-11 2018-03-31 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET Call 34,000 17 n/a n/a n/a
2018-02-09 2017-12-31 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET Call 0 -100.00 0 -100.00 n/a n/a n/a
2017-11-08 2017-09-30 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET Call 151,400 -10.41 1,105 159.39 n/a n/a n/a
2017-08-10 2017-06-30 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET Call 169,000 426 n/a n/a n/a
Disclosed Put Options
File
Date		 Effective
Date		Form Security Class ID Opt Avg Share Price Shares ΔShares
(%)		 Value
(x1000)		 ΔValue
(%)		 Prior Allocation
(%)		 Allocation
(%)		 ΔAllocation
(%)		 Cost Basis
(x1000)		 Profit
(x1000)		 Return
(%)
2025-08-13 2025-06-30 13F VANECK ETF TRUST SEMICONDUCTR ETF Put 119,100 124.29 224 -77.42 n/a n/a n/a
2025-05-14 2025-03-31 13F VANECK ETF TRUST SEMICONDUCTR ETF Put 53,100 18.53 993 473.41 n/a n/a n/a
2025-02-13 2024-12-31 13F VANECK ETF TRUST SEMICONDUCTR ETF Put 44,800 52.38 174 -33.46 n/a n/a n/a
2024-11-12 2024-09-30 13F VANECK ETF TRUST SEMICONDUCTR ETF Put 29,400 58.92 260 55.69 n/a n/a n/a
2024-08-14 2024-06-30 13F VANECK ETF TRUST SEMICONDUCTR ETF Put 18,500 44.53 167 421.88 n/a n/a n/a
2024-05-13 2024-03-31 13F VANECK ETF TRUST SEMICONDUCTR ETF Put 12,800 -89.20 33 -27.27 n/a n/a n/a
2024-02-14 2023-12-31 13F VANECK ETF TRUST SEMICONDUCTR ETF Put 118,500 -49.55 45 -83.52 n/a n/a n/a
2023-11-09 2023-09-30 13F VANECK ETF TRUST SEMICONDUCTR ETF Put 234,900 187.52 267 15.09 n/a n/a n/a
2023-08-11 2023-06-30 13F VANECK ETF TRUST SEMICONDUCTR ETF Put 81,700 139.59 233 n/a n/a n/a
2023-05-12 2023-03-31 13F VANECK ETF TRUST SEMICONDUCTR ETF Put 34,100 -41.11 1 n/a n/a n/a
2023-02-14 2022-12-31 13F VANECK ETF TRUST SEMICONDUCTR ETF Put 57,900 -68.43 1 -100.00 n/a n/a n/a
2022-11-14 2022-09-30 13F VANECK ETF TRUST SEMICONDUCTR ETF Put 183,400 130.11 4,767 175.71 n/a n/a n/a
2022-08-12 2022-06-30 13F VANECK ETF TRUST SEMICONDUCTR ETF Put 79,700 30.23 1,729 600.00 n/a n/a n/a
2022-05-12 2022-03-31 13F VANECK ETF TRUST SEMICONDUCTR ETF Put 61,200 477.36 247 550.00 n/a n/a n/a
2022-02-14 2021-12-31 13F VANECK ETF TRUST SEMICONDUCTR ETF Put 10,600 38 n/a n/a n/a
2021-11-10 2021-09-30 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET Put 0 -100.00 0 -100.00 n/a n/a n/a
2021-08-11 2021-06-30 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET Put 16,100 -41.03 64 -58.44 n/a n/a n/a
2021-05-14 2021-03-31 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET Put 27,300 92.25 154 366.67 n/a n/a n/a
2021-02-16 2020-12-31 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET Put 14,200 33 n/a n/a n/a
2020-11-13 2020-09-30 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET Put 0 -100.00 0 -100.00 n/a n/a n/a
2020-08-10 2020-06-30 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET Put 14,400 72 n/a n/a n/a
2020-05-08 2020-03-31 13F VANECK VECTORS ETF TRUST SEMICONDUCTOR ET Put 0 -100.00 0 -100.00 n/a n/a n/a
2020-02-11 2019-12-31 13F VANECK VECTORS ETF TRUST SEMICONDUCTOR ET Put 184,200 -67.15 14 -98.75 n/a n/a n/a
2019-11-12 2019-09-30 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET Put 560,800 -41.07 1,117 -39.06 n/a n/a n/a
2019-08-14 2019-06-30 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET Put 951,600 1,168.80 1,833 429.77 n/a n/a n/a
2019-05-10 2019-03-31 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET Put 75,000 -79.30 346 -76.49 n/a n/a n/a
2019-02-12 2018-12-31 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET Put 362,300 596.73 1,472 245.54 n/a n/a n/a
2018-11-09 2018-09-30 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET Put 52,000 -58.10 426 301.89 n/a n/a n/a
2018-08-13 2018-06-30 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET Put 124,100 -57.15 106 -83.17 n/a n/a n/a
2018-05-11 2018-03-31 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET Put 289,600 620.40 630 328.57 n/a n/a n/a
2018-02-09 2017-12-31 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET Put 40,200 -89.97 147 40.00 n/a n/a n/a
2017-11-08 2017-09-30 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET Put 400,800 -3.12 105 -92.18 n/a n/a n/a
2017-08-10 2017-06-30 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET Put 413,700 2,124.19 1,342 6,610.00 n/a n/a n/a
2017-05-12 2017-03-31 13F VANECK VECTORS ETF TR SEMICONDUCTOR ET Put 18,600 20 n/a n/a n/a
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.