Bushido Capital US Equity ETF
SMRI
8 hedge funds and large institutions have $477M invested in Bushido Capital US Equity ETF in 2025 Q4 according to their latest regulatory filings, with 3 funds opening new positions, 2 increasing their positions, 0 reducing their positions, and 1 closing their positions.
200% more first-time investments, than exits
New positions opened: 3 | Existing positions closed: 1
33% more funds holding
Funds holding: 6 → 8 (+2)
5% more capital invested
Capital invested by funds: $452M → $477M (+$24.7M)
0% more funds holding in top 10
Funds holding in top 10: 1 → 1 (0)
13.05% less ownership
Funds ownership: 96.53% → 83.48% (-13%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SC
Sepio Capital
Salt Lake City,
Utah
|
+$3.7M |
| 2 |
GS
GTS Securities
New York
|
+$767K |
| 3 |
BDF
Black Diamond Financial
Towson,
Maryland
|
+$392K |
| 4 |
Cambridge Investment Research Advisors
Fairfield,
Iowa
|
+$347K |
| 5 |
UBS Group
Zurich,
Switzerland
|
+$354 |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$242K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
SC
1
Sepio Capital
Salt Lake City,
Utah
| $474M | +$3.7M | +104,562 | +0.8% |
|
|
GS
2
GTS Securities
New York
| $1.28M | +$767K | +21,674 | +158% |
|
|
BDF
3
Black Diamond Financial
Towson,
Maryland
| $401K | +$392K | +11,093 | New |
|
|
4
Cambridge Investment Research Advisors
Fairfield,
Iowa
| $355K | +$347K | +9,813 | New |
|
|
MCM
5
Marathon Capital Management
Hunt Valley,
Maryland
| $308K | – | – | – |
|
6
William Blair & Company
Chicago,
Illinois
| $1.08K | – | – | – |
|
|
7
UBS Group
Zurich,
Switzerland
| $361 | +$354 | +10 | New |
|
|
NMG
8
New Millennium Group
Sandy,
Utah
| $22 | – | – | – |
|
|
9
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
| – | -$242K | -6,980 | Closed |
|
SMRI Hedge Fund Activity: Q4 2025 in Review
8 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Bushido Capital US Equity ETF (SMRI) for Q4 2025, worth a combined $477M — up 5.5% from $452M a quarter earlier.
Buyers outnumbered sellers: 3 funds opened new SMRI positions and 1 closed out — a net gain of 2 holders — while 2 added to existing stakes and 0 trimmed.
The largest buyer was Sepio Capital, adding an estimated $3.7M. The largest seller was Susquehanna International Group, exiting entirely with an estimated $242K sold.
- 8 institutional investors held Bushido Capital US Equity ETF (SMRI) as of Q4 2025, up from 6 in Q3 2025.
- Funds reported $477M of Bushido Capital US Equity ETF stock for Q4 2025, up 5.5% quarter-over-quarter.
- 3 funds opened new Bushido Capital US Equity ETF positions in Q4 2025 and 1 closed out, a net change of +2 holders.
- The largest Bushido Capital US Equity ETF buyer in Q4 2025 was Sepio Capital, an estimated $3.7M added.
- The largest Bushido Capital US Equity ETF seller in Q4 2025 was Susquehanna International Group, an estimated $242K sold.
Based on aggregated 13F filings for Q4 2025.