SMST

Defiance Daily Target 2x Short MSTR ETF

SMST

Market cap $28.6M

12 hedge funds and large institutions have $7.02M invested in Defiance Daily Target 2x Short MSTR ETF in 2025 Q4 according to their latest regulatory filings, with 7 funds opening new positions, 2 increasing their positions, 3 reducing their positions, and 3 closing their positions.

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New

Increased

Maintained

Reduced

Closed

more capital invested

Capital invested by funds: $ → $

more first-time investments, than exits

New positions opened: | Existing positions closed:

more funds holding

Funds holding: →

more ownership

Funds ownership: →

33% less repeat investments, than reductions

Existing positions increased: 2 | Existing positions reduced: 3

61% less call options, than puts

Call options by funds: $3.57M | Put options by funds: $9.15M

Holders

Holders Change

Holders Change %

% of All Funds

Holding in Top 10

–

Holding in Top 10 Change

Holding in Top 10 Change %

% of All Funds

New

Increased

Reduced

Closed

Calls

$3.57M

Puts

$9.15M

Net Calls

Net Calls Change

Top Buyers

1		+$1.47M
2		+$390K
3		+$363K
4	FTUS Flow Traders U.S. New York	+$333K
5	Simplex Trading Chicago, Illinois	+$242K

Top Sellers

1		-$1.12M
2		-$542K
3		-$410K
4	Belvedere Trading Chicago, Illinois	-$273K
5	Group One Trading Chicago, Illinois	-$171K

#	Name	Holding
1	JF 1 Jump Financial Chicago, Illinois	$2.46M
2	2 Optiver Holding Amsterdam, Netherlands	$992K
3	3 Susquehanna International Group Bala Cynwyd, Pennsylvania	$657K
4	4 Bank of New York Mellon New York	$650K
5	FTUS 5 Flow Traders U.S. New York	$555K
6	6 Simplex Trading Chicago, Illinois	$403K
7	GS 7 GTS Securities New York	$304K
8	8 Jane Street New York	$263K
9	9 Belvedere Trading Chicago, Illinois	$247K
10	TRCT 10 Tower Research Capital (TRC) New York	$235K
11	HT 11 Headlands Technologies Chicago, Illinois	$233K
12	12 UBS Group Zurich, Switzerland	$21.3K
13	13 Citadel Advisors Miami, Florida	–
14	14 Group One Trading Chicago, Illinois	–
15	15 Citigroup New York	–