Semiconductor Stocks
Top 10 of 25 SMH holdings, updated
As of 12 October 2026, semiconductor stocks have turned up: behind the S&P 500 over the longer run, but ahead over the past month. SMH beats the S&P 500 by 1.9 points over one month and ranks #12 of 115 groups Zensei tracks. 10 of the 25 semiconductor stocks Zensei prices in SMH beat the fund this month.
Where semiconductor stocks stand now
As of 12 October 2026, Semiconductors (SMH) ranks #12 of the 115 groups Zensei tracks by one-month return against the S&P 500. It has just turned the corner. Over the longer, time-shifted window it trailed the S&P 500 by 4.9 points, but over the past month it has moved clearly ahead of the market — a 1.9-point edge that puts it in the Emerging quadrant.
On the shorter tape, SMH's momentum is weakening: the intraday trend that carried the move is cooling across the shorter windows. SMH's relative-strength line has broken below its long-term average — the long-term outperformance trend is no longer intact. Both signals point the same direction here: the market is not rewarding this group on either horizon.
The exposure comes via VanEck Semiconductor ETF, whose 25 tracked holdings are led by NVIDIA, TSMC and AMD. Weighted by portfolio, the fund's holdings trade at roughly 34.9× earnings. The thing to watch from here is confirmation: emerging groups that hold a positive one-month spread long enough for the longer window to turn are the classic early-rotation entries — the ones that fail fall back quickly.
Chip stocks in SMH: the largest and the strongest
As of , these are the largest semiconductor stocks in SMH by fund weight, and the strongest over the past month. Size and recent return are measurements, not recommendations.
Top semiconductor stocks by fund weight
Ranked by largest share of SMH
- 1NVIDIANVDA19.5%
- 2TSMCTSM9.4%
- 3AMDAMD5.7%
- 4BroadcomAVGO5.3%
- 5Marvell TechnologyMRVL4.7%
Best semiconductor stocks this month
Ranked by one-month return, among the holdings Zensei prices
- 1Synopsys IncSNPS+26.5%
- 2Cadence Design Systems IncCDNS+20.4%
- 3AMDAMD+15.1%
- 4Marvell TechnologyMRVL+12.6%
- 5Astera Labs IncALAB+11.3%
Semiconductor Stocks vs the S&P 500
Over the week to 12 October 2026, SMH fell 6.8% while the S&P 500 rose 0.4%. The table compares SMH and SPY (the S&P 500) over every window Zensei tracks. The spread is the difference: positive means SMH won that window.
Prices as of · computed from daily adjusted closes · how we measure
Semiconductors on the rotation map, against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window.
Are semiconductor stocks expensive?
The price-to-earnings ratio of SMH as a whole: the total price of its holdings over their total earnings, weighted by share of the fund. Holdings that lose money are left out. Compare with every sector and theme: P/E ratio by sector.
SMH holdings: the semiconductor stocks inside
This list covers all 25 semiconductor stocks in SMH, heaviest first; the 10 largest show their returns where Zensei has a price. As of 12 October 2026, 10 of the 25 semiconductor stocks Zensei prices in SMH beat the fund over the past month. 14 of them beat the S&P 500. The strongest is Synopsys Inc (SNPS); the weakest is SK Hynix Inc (SKHY). Inside the fund, one or two outliers drive most of the move.
| # | Holding | Weight | 1M | 3M | vs fund 1M | Momentum | RS health |
|---|---|---|---|---|---|---|---|
| 1 | NVDANVIDIA | 19.5% | +3.7% | +11.3% | −0.3 pts | Weak | Strong |
| 2 | TSMTSMC | 9.4% | +2.9% | +5.7% | −1.1 pts | Weak | Strong |
| 3 | AMDAMD | 5.7% | +15.1% | +11.2% | +11.2 pts | Weak | Fading |
| 4 | AVGOBroadcom | 5.3% | −1.8% | −7.5% | |||
| 5 | MRVLMarvell Technology | 4.7% | +12.6% | +22.2% | |||
| 6 | TXNTexas Instruments Inc | 4.7% | +4.9% | −5.2% | |||
| 7 | MUMicron Technology | 4.6% | +1.4% | +5.6% | |||
| 8 | AMATApplied Materials Inc | 4.6% | +9.0% | −13.4% | |||
| 9 | KLACKLA Corp | 4.4% | +5.2% | −14.4% | |||
| 10 | ASMLASML | 4.3% | +3.1% | +1.5% |
All 25 SMH holdings by weight: NVIDIA (NVDA) 19.5%, TSMC (TSM) 9.4%, AMD (AMD) 5.7%, Broadcom (AVGO) 5.3%, Marvell Technology (MRVL) 4.7%, Texas Instruments Inc (TXN) 4.7%, Micron Technology (MU) 4.6%, Applied Materials Inc (AMAT) 4.6%, KLA Corp (KLAC) 4.4%, ASML (ASML) 4.3%, Intel (INTC) 4.3%, LAM Research Corp (LRCX) 4.3%, SK Hynix Inc (SKHY) 4.2%, Analog Devices Inc (ADI) 4.1%, Qualcomm (QCOM) 3.5%, Cadence Design Systems Inc (CDNS) 2.0%, Synopsys Inc (SNPS) 2.0%, Teradyne Inc (TER) 1.3%, Monolithic Power Systems Inc (MPWR) 1.3%, Astera Labs Inc (ALAB) 1.2%, Arm Holdings (ARM) 1.1%, NXP Semiconductors NV (NXPI) 1.0%, Stmicroelectronics NV (STM) 1.0%, Microchip Technology Inc (MCHP) 0.8%, On Semiconductor Corp (ON) 0.5%.
Semiconductor stocks with their own page
Zensei publishes a page for 5 of the stocks in SMH; each page shows the stock against the S&P 500 and its sector.
| Stock | Ticker | Weight in SMH | 1M return |
|---|---|---|---|
| NVIDIA | NVDA | 19.5% | +3.7% |
| TSMC | TSM | 9.4% | +2.9% |
| Marvell Technology | MRVL | 4.7% | +12.6% |
| ASML | ASML | 4.3% | +3.1% |
| Arm Holdings | ARM | 1.1% | −3.6% |
Weight is the share of SMH. 1M is the plain one-month return to the close of . All stock pages
Semiconductor Stocks: common questions
Semiconductor stocks list: which stocks are in SMH?
As of 12 October 2026, SMH holds 25 semiconductor stocks, and this page lists all 25. The three largest by fund weight are NVIDIA (NVDA, 19.5%), TSMC (TSM, 9.4%) and AMD (AMD, 5.7%). Each one shows its fund weight; the 10 largest also show their one-month and three-month returns where Zensei has a price.
What are the best semiconductor stocks this month?
As of 12 October 2026, ranked by one-month return, the three strongest semiconductor stocks in SMH are Synopsys Inc (SNPS, +26.5%), Cadence Design Systems Inc (CDNS, +20.4%) and AMD (AMD, +15.1%). This ranks past return only; it does not forecast the next month.
What are the top 3 semiconductor stocks?
As of 12 October 2026, the three largest semiconductor stocks in SMH by fund weight are NVIDIA (NVDA, 19.5%), TSMC (TSM, 9.4%) and AMD (AMD, 5.7%). Fund weight shows size inside the fund, not a recommendation.
Which semiconductor stocks are beating the sector?
As of 12 October 2026, 10 of the 25 semiconductor stocks Zensei prices in SMH beat the fund over the past month. The strongest over the past month is Synopsys Inc (SNPS). The table above shows the largest holdings with their weights and returns.
Which ETF holds semiconductor stocks?
Several ETFs hold semiconductor stocks. Zensei tracks the group through SMH, the VanEck Semiconductor ETF. As of 12 October 2026, its published holdings list 25 semiconductor stocks, and the 10 largest make up 67.3% of the fund.
What are the largest chip stocks?
As of 12 October 2026, the three largest chip stocks in SMH by fund weight are NVIDIA (NVDA, 19.5%), TSMC (TSM, 9.4%) and AMD (AMD, 5.7%). Zensei tracks them as semiconductor stocks.
Are semiconductor stocks outperforming the S&P 500?
Yes. As of 12 October 2026, SMH has beaten the S&P 500 by 1.9 points over the past month.
What is SMH?
SMH is VanEck Semiconductor ETF. Zensei uses it to measure semiconductor stocks against the S&P 500 (SPY).
What stocks does SMH own?
As of 12 October 2026, the largest of the 25 positions Zensei tracks in SMH are NVIDIA, TSMC, AMD, Broadcom, Marvell Technology. Each position measured against the fund, with momentum and relative strength, is part of Zensei Premium.
What quadrant is semiconductors in right now?
As of 12 October 2026, semiconductors is in the Emerging quadrant — behind the market over the longer window, but ahead over the past month. The Zensei methodology page explains the quadrants.
Recent changes
- ·First tracked: gaining ground
Related sectors
Track semiconductors against the whole market
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