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
3.85% less ownership
Funds ownership: 11.4% → 7.55% (-3.9%)
42% less funds holding
Funds holding: 12 → 7 (-5)
61% less capital inflows, than outflows
Capital inflows: $1.71M | Capital outflows: $4.44M
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 |
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 |
Jump Financial
Chicago,
Illinois
|
-$2.46M |
| 2 |
Bank of New York Mellon
New York
|
-$650K |
| 3 |
Simplex Trading
Chicago,
Illinois
|
-$310K |
| 4 |
GTS Securities
Miami,
Florida
|
-$304K |
| 5 |
Belvedere Trading
Chicago,
Illinois
|
-$247K |
SMST Hedge Fund Activity: Q1 2026 in Review
7 of the 8,225 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.