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FT Vest US Small Cap Moderate Buffer ETF May
SMAY

54 hedge funds and large institutions have $40.6M invested in FT Vest US Small Cap Moderate Buffer ETF May in 2025 Q3 according to their latest regulatory filings, with 6 funds opening new positions, 12 increasing their positions, 23 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

7% less funds holding

Funds holding: 58 → 54 (-4)

17.67% less ownership

Funds ownership: 58.88% → 41.21% (-18%)

25% less first-time investments, than exits

New positions opened: 6 | Existing positions closed: 8

29% less capital invested

Capital invested by funds: $57.2M → $40.6M (-$16.5M)

48% less repeat investments, than reductions

Existing positions increased: 12 | Existing positions reduced: 23

100% less funds holding in top 10

Funds holding in top 10: 1 → 0 (-1)

Holders
54
Holders Change
-4
Holders Change %
-6.9%
% of All Funds
0.71%
Holding in Top 10
–
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-100%
% of All Funds
–
New
6
Increased
12
Reduced
23
Closed
8
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Cetera Investment Advisers
Cetera Investment Advisers
Illinois
+$813K
2
ATPW
Ashton Thomas Private Wealth
Arizona
+$796K
3
OMC
Old Mission Capital
Illinois
+$445K
4
PA
PFG Advisors
Arizona
+$255K
5
SWA
SOA Wealth Advisors
New York
+$237K

Top Sellers

Rank Fund Capital Flow
1
SAW
Signal Advisors Wealth
Michigan
-$4.74M
2
MW
Maia Wealth
Colorado
-$4.17M
3
LWM
Lionshead Wealth Management
New York
-$1.83M
4
Commonwealth Equity Services
Commonwealth Equity Services
Massachusetts
-$917K
5
Citadel Advisors
Citadel Advisors
Florida
-$684K
Name Holding Trade Value Shares
Change 		Change in
Stake
SPC
26
Sigma Planning Corp
Michigan
$415K -$5.16K -209 -1%
FPL
27
Fortress Private Ledger
North Carolina
$373K +$1.97K +80 +0.5%
Mariner
28
Mariner
Kansas
$360K +$8.76K +355 +3%
WTFG
29
Wood Tarver Financial Group
Idaho
$330K – – –
FFA
30
Fragasso Financial Advisors
Pennsylvania
$329K – – –
AWE
31
Avidian Wealth Enterprises
Texas
$325K – – –
DI
32
Diligent Investors
California
$268K – – –
PA
33
PFG Advisors
Arizona
$262K +$255K +10,350 New
IWC
34
Integrated Wealth Concepts
Massachusetts
$214K +$209K +8,465 New
Wealth Enhancement Advisory Services
35
Wealth Enhancement Advisory Services
Minnesota
$168K -$101K -4,096 -38%
DFA
36
DHJJ Financial Advisors
Illinois
$165K – – –
CAL
37
Capital Analysts LLC
Pennsylvania
$156K +$34.8K +1,409 +30%
SWM
38
Spire Wealth Management
Virginia
$155K -$66.2K -2,682 -30%
GWM
39
Geneos Wealth Management
Colorado
$141K – – –
BBPWM
40
Blue Bell Private Wealth Management
Pennsylvania
$126K +$47.1K +1,907 +62%
NS
41
NBC Securities
Alabama
$96.2K – – –
SPIA
42
Steward Partners Investment Advisory
New York
$93.1K +$35.2K +1,428 +63%
HI
43
Harbour Investments
Wisconsin
$77.9K -$18.5K -750 -20%
LFG
44
Larson Financial Group
Missouri
$74.7K – – –
Royal Bank of Canada
45
Royal Bank of Canada
Ontario, Canada
$51K – – –
Rockefeller Capital Management
46
Rockefeller Capital Management
New York
$41.3K +$40.3K +1,632 New
SS
47
Sunbelt Securities
Texas
$40K +$15.9K +643 +69%
PS
48
Principal Securities
Iowa
$38.2K – – –
NWMP
49
Noble Wealth Management PBC
Colorado
$38K +$37K +1,500 New
CIAS
50
Capital Investment Advisory Services
North Carolina
$17.7K – – –
1
2
3

SMAY Hedge Fund Activity: Q3 2025 in Review

54 of the 7,620 institutional investors tracked by Wall St. Rank reported a position in FT Vest US Small Cap Moderate Buffer ETF May (SMAY) for Q3 2025, worth a combined $40.6M — down 29% from $57.2M a quarter earlier.

Sellers outnumbered buyers: 8 funds closed out of SMAY and 6 opened new positions — a net loss of 2 holders — while 23 trimmed existing stakes and 12 added.

The largest buyer was Cetera Investment Advisers, adding an estimated $813K. The largest seller was Signal Advisors Wealth, exiting entirely with an estimated $4.74M sold.

  • 54 institutional investors held FT Vest US Small Cap Moderate Buffer ETF May (SMAY) as of Q3 2025, down from 58 in Q2 2025.
  • Funds reported $40.6M of FT Vest US Small Cap Moderate Buffer ETF May stock for Q3 2025, down 29% quarter-over-quarter.
  • 6 funds opened new FT Vest US Small Cap Moderate Buffer ETF May positions in Q3 2025 and 8 closed out, a net change of -2 holders.
  • The largest FT Vest US Small Cap Moderate Buffer ETF May buyer in Q3 2025 was Cetera Investment Advisers, an estimated $813K added.
  • The largest FT Vest US Small Cap Moderate Buffer ETF May seller in Q3 2025 was Signal Advisors Wealth, an estimated $4.74M sold.

Based on aggregated 13F filings for Q3 2025.