iShares Large Cap Max Buffer Sep ETF
SMAX
26 hedge funds and large institutions have $56.8M invested in iShares Large Cap Max Buffer Sep ETF in 2025 Q3 according to their latest regulatory filings, with 5 funds opening new positions, 3 increasing their positions, 12 reducing their positions, and 4 closing their positions.
25% more first-time investments, than exits
New positions opened: 5 | Existing positions closed: 4
4% more funds holding
Funds holding: 25 → 26 (+1)
1.81% more ownership
Funds ownership: 68.84% → 70.65% (+1.8%)
9% less capital invested
Capital invested by funds: $62.4M → $56.8M (-$5.6M)
75% less repeat investments, than reductions
Existing positions increased: 3 | Existing positions reduced: 12
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Citadel Advisors
Miami,
Florida
|
+$918K |
| 2 |
FA
FC Advisory
West Chester,
Pennsylvania
|
+$687K |
| 3 |
CWG
Crown Wealth Group
Charlotte,
North Carolina
|
+$319K |
| 4 |
AFP
Ausdal Financial Partners
Davenport,
Iowa
|
+$205K |
| 5 |
AWM
AE Wealth Management
Topeka,
Kansas
|
+$178K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SB
Strategic Blueprint
Atlanta,
Georgia
|
-$6.49M |
| 2 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$993K |
| 3 |
JLBC
J.L. Bainbridge & Co
Sarasota,
Florida
|
-$549K |
| 4 |
TAP
Tounjian Advisory Partners
Fort Myers,
Florida
|
-$379K |
| 5 |
OMC
Old Mission Capital
Chicago,
Illinois
|
-$271K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
IA
26
IFP Advisors
Tampa,
Florida
| $1.37K | +$26 | +1 | +2% |
|
|
27
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
| – | -$993K | -38,115 | Closed |
|
|
TAP
28
Tounjian Advisory Partners
Fort Myers,
Florida
| – | -$379K | -15,128 | Closed |
|
29
Thrivent Financial for Lutherans
Minneapolis,
Minnesota
| – | -$203K | -7,810 | Closed |
|
30
Fifth Third Bancorp
Cincinnati,
Ohio
| – | -$34K | -1,306 | Closed |
|
SMAX Hedge Fund Activity: Q3 2025 in Review
26 of the 7,620 institutional investors tracked by Wall St. Rank reported a position in iShares Large Cap Max Buffer Sep ETF (SMAX) for Q3 2025, worth a combined $56.8M — down 9% from $62.4M a quarter earlier.
Buyers outnumbered sellers: 5 funds opened new SMAX positions and 4 closed out — a net gain of 1 holder — while 3 added to existing stakes and 12 trimmed.
The largest buyer was Citadel Advisors, opening a new position worth an estimated $918K. The largest seller was Strategic Blueprint, cutting an estimated $6.49M.
- 26 institutional investors held iShares Large Cap Max Buffer Sep ETF (SMAX) as of Q3 2025, up from 25 in Q2 2025.
- Funds reported $56.8M of iShares Large Cap Max Buffer Sep ETF stock for Q3 2025, down 9% quarter-over-quarter.
- 5 funds opened new iShares Large Cap Max Buffer Sep ETF positions in Q3 2025 and 4 closed out, a net change of +1 holder.
- The largest iShares Large Cap Max Buffer Sep ETF buyer in Q3 2025 was Citadel Advisors, an estimated $918K added.
- The largest iShares Large Cap Max Buffer Sep ETF seller in Q3 2025 was Strategic Blueprint, an estimated $6.49M sold.
Based on aggregated 13F filings for Q3 2025.