iShares Large Cap Max Buffer Sep ETF
SMAX
25 hedge funds and large institutions have $62.4M invested in iShares Large Cap Max Buffer Sep ETF in 2025 Q2 according to their latest regulatory filings, with 6 funds opening new positions, 5 increasing their positions, 7 reducing their positions, and 19 closing their positions.
3.2% more ownership
Funds ownership: 65.64% → 68.84% (+3.2%)
26% less capital invested
Capital invested by funds: $84.8M → $62.4M (-$22.4M)
29% less repeat investments, than reductions
Existing positions increased: 5 | Existing positions reduced: 7
34% less funds holding
Funds holding: 38 → 25 (-13)
68% less first-time investments, than exits
New positions opened: 6 | Existing positions closed: 19
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
JLBC
J.L. Bainbridge & Co
Sarasota,
Florida
|
+$1.34M |
| 2 |
AWA
Amplius Wealth Advisors
Blue Bell,
Pennsylvania
|
+$1.27M |
| 3 |
Goldman Sachs
New York
|
+$584K |
| 4 |
Envestnet Asset Management
Chicago,
Illinois
|
+$377K |
| 5 |
OMC
Old Mission Capital
Chicago,
Illinois
|
+$374K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AWM
AE Wealth Management
Topeka,
Kansas
|
-$14.7M |
| 2 |
AWA
Authentikos Wealth Advisory
Morgan Hill,
California
|
-$2.72M |
| 3 |
HBS
Howard Bailey Securities
Fort Wayne,
Indiana
|
-$2.58M |
| 4 |
CW
CreativeOne Wealth
Overland Park,
Kansas
|
-$1.11M |
| 5 |
JP Morgan Chase
New York
|
-$1.06M |
SMAX Hedge Fund Activity: Q2 2025 in Review
25 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in iShares Large Cap Max Buffer Sep ETF (SMAX) for Q2 2025, worth a combined $62.4M — down 26% from $84.8M a quarter earlier.
Sellers outnumbered buyers: 19 funds closed out of SMAX and 6 opened new positions — a net loss of 13 holders — while 7 trimmed existing stakes and 5 added.
The largest buyer was J.L. Bainbridge & Co, adding an estimated $1.34M. The largest seller was AE Wealth Management, exiting entirely with an estimated $14.7M sold.
- 25 institutional investors held iShares Large Cap Max Buffer Sep ETF (SMAX) as of Q2 2025, down from 38 in Q1 2025.
- Funds reported $62.4M of iShares Large Cap Max Buffer Sep ETF stock for Q2 2025, down 26% quarter-over-quarter.
- 6 funds opened new iShares Large Cap Max Buffer Sep ETF positions in Q2 2025 and 19 closed out, a net change of -13 holders.
- The largest iShares Large Cap Max Buffer Sep ETF buyer in Q2 2025 was J.L. Bainbridge & Co, an estimated $1.34M added.
- The largest iShares Large Cap Max Buffer Sep ETF seller in Q2 2025 was AE Wealth Management, an estimated $14.7M sold.
Based on aggregated 13F filings for Q2 2025.