Defiance Daily Target 2x Short MSTR ETF
SMST
7 hedge funds and large institutions have $3.28M invested in Defiance Daily Target 2x Short MSTR ETF in 2026 Q1 according to their latest regulatory filings, with 2 funds opening new positions, 3 increasing their positions, 2 reducing their positions, and 7 closing their positions.
50% more repeat investments, than reductions
Existing positions increased: 3 | Existing positions reduced: 2
22% more call options, than puts
Call options by funds: $3.25M | Put options by funds: $2.66M
9.91% less ownership
Funds ownership: 17.46% → 7.55% (-9.9%)
42% less funds holding
Funds holding: 12 → 7 (-5)
53% less capital invested
Capital invested by funds: $7.02M → $3.28M (-$3.73M)
71% less first-time investments, than exits
New positions opened: 2 | Existing positions closed: 7
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Optiver Holding
Amsterdam,
Netherlands
|
+$799K |
| 2 |
HF
HRT Financial
New York
|
+$610K |
| 3 |
Jane Street
New York
|
+$212K |
| 4 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$82K |
| 5 |
Group One Trading
Chicago,
Illinois
|
+$10.2K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
JF
Jump Financial
Chicago,
Illinois
|
-$2.46M |
| 2 |
Bank of New York Mellon
New York
|
-$650K |
| 3 |
Simplex Trading
Chicago,
Illinois
|
-$310K |
| 4 |
GS
GTS Securities
New York
|
-$304K |
| 5 |
Belvedere Trading
Chicago,
Illinois
|
-$247K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
1
Optiver Holding
Amsterdam,
Netherlands
| $1.43M | +$799K | +11,173 | +105% |
|
|
HF
2
HRT Financial
New York
| $559K | +$610K | +8,525 | New |
|
|
3
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
| $540K | +$82K | +1,147 | +16% |
|
|
4
Jane Street
New York
| $380K | +$212K | +2,967 | +105% |
|
|
FTUS
5
Flow Traders U.S.
New York
| $356K | -$39.4K | -551 | -9% |
|
|
6
Group One Trading
Chicago,
Illinois
| $9.38K | +$10.2K | +143 | New |
|
|
TRCT
7
Tower Research Capital (TRC)
New York
| $5.84K | -$175K | -2,445 | -96% |
|
|
JF
8
Jump Financial
Chicago,
Illinois
| – | -$2.46M | -26,480 | Closed |
|
|
9
Bank of New York Mellon
New York
| – | -$650K | -7,000 | Closed |
|
|
10
Simplex Trading
Chicago,
Illinois
| – | -$310K | -4,341 | Closed |
|
|
GS
11
GTS Securities
New York
| – | -$304K | -3,271 | Closed |
|
|
12
Belvedere Trading
Chicago,
Illinois
| – | -$247K | -2,665 | Closed |
|
|
HT
13
Headlands Technologies
Chicago,
Illinois
| – | -$233K | -2,506 | Closed |
|
14
UBS Group
Zurich,
Switzerland
| – | -$21.3K | -229 | Closed |
|
SMST Hedge Fund Activity: Q1 2026 in Review
7 of the 8,130 institutional investors tracked by Wall St. Rank reported a position in Defiance Daily Target 2x Short MSTR ETF (SMST) for Q1 2026, worth a combined $3.28M — down 53% from $7.02M a quarter earlier.
Sellers outnumbered buyers: 7 funds closed out of SMST and 2 opened new positions — a net loss of 5 holders — while 2 trimmed existing stakes and 3 added.
The largest buyer was Optiver Holding, adding an estimated $799K. The largest seller was Jump Financial, exiting entirely with an estimated $2.46M sold.
- 7 institutional investors held Defiance Daily Target 2x Short MSTR ETF (SMST) as of Q1 2026, down from 12 in Q4 2025.
- Funds reported $3.28M of Defiance Daily Target 2x Short MSTR ETF stock for Q1 2026, down 53% quarter-over-quarter.
- 2 funds opened new Defiance Daily Target 2x Short MSTR ETF positions in Q1 2026 and 7 closed out, a net change of -5 holders.
- The largest Defiance Daily Target 2x Short MSTR ETF buyer in Q1 2026 was Optiver Holding, an estimated $799K added.
- The largest Defiance Daily Target 2x Short MSTR ETF seller in Q1 2026 was Jump Financial, an estimated $2.46M sold.
Based on aggregated 13F filings for Q1 2026.