1K + Investors. Track Smart Money conviction in SMH. See who's accumulating, reducing, or initiating positions.
Based on 1333 hedge funds · latest filing: 2026 Q1 · updated quarterly
Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.
In 2026 Q1, 729 hedge funds were net buyers of SMH (221 opened a new position, 508 added to an existing one), while 521 reduced or exited (412 trimmed, 109 sold completely) — a 58% buyer ratio, indicating a slight buying edge. This marks 4 consecutive quarters of net institutional buying — a persistent conviction signal. 59% of total institutional value in SMH is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: +112 funds (more new holders than closures). Total institutional holders: 1333.
Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.
Signal Freshness measures how much SMH has moved relative to its sector benchmark (SPY) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.
SMH outperformed SPY by +47.6% since March 31, 2026.
Since the filing became public, SMH outperformed SPY by +11.1% .
Interpretation: The stock has meaningfully outrun its sector. The trade has partially played out; entry is at a premium to the fund's implied reference. Learn more →
Multiple high-quality funds hold meaningful positions with strong conviction.
Track Smart Money conviction in SMH. See who's accumulating, reducing, or initiating positions.
| Metric | All 13F Filers (2026 Q1) | Prior (2025 Q4) | Change |
|---|---|---|---|
| Funds Holding | 1321 | 1221 | 8.19% |
| 13F Shares | 125M | 119M | 5.48% |
| Total Value | $47.85B | $40.45B | 18.29% |
| New Positions | 218 | 249 | -31 |
| Increased Positions | 485 | 475 | +10 |
| Closed Positions | 118 | 95 | +23 |
| Reduced Positions | 382 | 331 | +51 |
| Total Calls | 40 | 46 | -13.04% |
| Total Puts | 81 | 63 | 28.57% |
| PUT/CALL Ratio | 2.02 | 1.37 | Bearish |
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Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in SMH. Verified SEC 13F-HR filings.
| Investor | Ownership History |
% of Portfolio | Prev % | Rank | Conviction | Avg Buy Price | 13F Score™ 3Y / 7Y | Sell Timing | Shares | Mkt Value | Change | Change % | Source | Quarter | Filed |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Buying streak — 4 quarters in a row: For 4 consecutive quarters, more hedge funds added SMH than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
Slight buying edge — 58% buying: Last quarter: 729 funds bought or added vs 521 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
Elite ownership — 59% AUM from top-100 funds: 37 of 1295 holders are among the 100 largest funds by AUM, controlling 59% of total institutional value in SMH. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
44% of holders stayed for 2+ years: 580 out of 1,333 hedge funds have held SMH for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
As of today, SMH has moved +11.4% since the 2026 Q1 13F filing date (May 15, 2026), compared to +0.3% for the SPY sector ETF — an outperformance of +11.1%. Since the quarter end (March 31, 2026), SMH has gained +61.7% vs +14.1% for SPY. The stock has meaningfully outrun its sector. The trade has partially played out; entry is at a premium to the fund's implied reference.
All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.
Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.