M & L Capital Management Ltd: VANECK ETF TRUST (SMH): Quarterly 13F Position History
As of Q3 2026, M & L Capital Management Ltd reported 54,300 shares of VANECK ETF TRUST (SMH), worth $33.1M and representing 6.9% of its 13F equity book. Quarter-over-quarter share count change: 4,800 (-8.1%) . The position first appeared in Q2 2026 and has been disclosed across 2 13F-HR filings in Pactolio's tracked window.
- 54,300Shares Held (Latest Filing)
- $33.1MReported Market Value (Latest Filing)
- 6.9%Portfolio Weight (% of 13F Equity Book)
- 4,800Quarter-over-Quarter Share Change
- -$5.7MQuarter-over-Quarter Value Change
- 59,100Peak Reported Shares (Historical)
Recent initiation: M & L Capital Management Ltd first reported SMH on the Q2 2026 filing, so fewer than three quarters of history are available.
Quarterly 13F-HR Disclosure History Source: SEC 13F-HR filings, 2 quarter s
| Quarter | Shares | QoQ Share Change | Share Change (%) | Market Value | Weight | Implied Price |
|---|---|---|---|---|---|---|
| Q3 2026 | 54,300 | 4,800 | -8.1% | $33.1M | 6.9% | $609.0 |
| Q2 2026 | 59,100 | – | – | $38.8M | 10.5% | $655.9 |
Methodology & FAQ
How This Position History Is Sourced
Each row is one SEC Form 13F-HR filing disclosing this position. Share count, market value, and reported quarter are taken verbatim from the filing; portfolio weight is recomputed against the same filing's total reported equity book. Implied price-per-share is market value divided by shares, a quarter-end mark rather than the manager's cost basis. See the full methodology document for the normalization rules.
When did M & L Capital Management Ltd first disclose a SMH position in 13F-HR filings?
M & L Capital Management Ltd first reported VANECK ETF TRUST (SMH) on its 13F-HR filing for the period ending 2026-06-30 (Q2 2026). The position has appeared on 2 reported quarters within Pactolio's tracked window.
What was M & L Capital Management Ltd's most recent quarter-over-quarter share-count change in SMH?
Between Q2 2026 and Q3 2026, M & L Capital Management Ltd reduced its SMH position by 4,800 shares (-8.1%), leaving 54,300 shares at a market value of $33.1M.
Does the implied price-per-share represent M & L Capital Management Ltd's cost basis in SMH?
No. The implied price-per-share column is the 13F-HR reported market value divided by reported share count on the filing date (end of quarter). It is a quarter-end mark, not a cost basis or transaction price. Use it as a sanity check on the value column, not as an indicator of the manager's entry or exit price.