Who owns SMAX
Which tracked institutional funds hold SMAX, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See SMAX company fundamentals →
Ownership as of the 2026-Q1 13F filings (latest filed 2026-05-15). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
3 tracked funds added or opened SMAX while 6 trimmed or exited it between 2025-Q4 and 2026-Q1 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
SMAX’s largest tracked holder by dollar value, J. L. Bainbridge & Co., Inc., sizes it at 3.4% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 3.4pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in SMAX divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2025-Q4 and 2026-Q1, across 34 tracked filers holding SMAX, 11 increased or opened the position and 16 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in SMAX between the 2025-Q4 and 2026-Q1 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 1
- OLD MISSION CAPITAL LLC$811K
Full exits 1
- GOLDMAN SACHS GROUP INC$1M
Largest adds
- Kovack Advisors, Inc.$396K
- ENVESTNET ASSET MANAGEMENT INC$380K
Largest trims
- J. L. Bainbridge & Co., Inc.$12M
- BIP Wealth, LLC$3M
- Client First Capital LLC$1M
- SUSQUEHANNA INTERNATIONAL GROUP, LLP$610K
- Crown Wealth Group, LLC$362K
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| J. L. Bainbridge & Co., Inc. trimmed | 1,398,260 | $38M | 46.3% | 2026-Q1 |
| Client First Capital LLC trimmed | 145,320 | $4M | 4.8% | 2026-Q1 |
| RAYMOND JAMES FINANCIAL INC trimmed | 92,269 | $2M | 3.1% | 2026-Q1 |
| FC Advisory LLC | 80,775 | $2M | 2.7% | 2026-Q1 |
| Grantvest Financial Group LLC trimmed | 74,381 | $2M | 2.5% | 2026-Q1 |
| BIP Wealth, LLC trimmed | 56,701 | $2M | 1.9% | 2026-Q1 |
| Amplius Wealth Advisors, LLC | 48,101 | $1M | 1.6% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC added | 44,152 | $1M | 1.5% | 2026-Q1 |
| Crewe Advisors LLC | 38,118 | $1M | 1.3% | 2026-Q1 |
| JIM SAULNIER & ASSOCIATES, LLC | 36,141 | $969K | 1.2% | 2026-Q1 |
| OLD MISSION CAPITAL LLC added | 30,219 | $811K | 1.0% | 2026-Q1 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP trimmed | 28,853 | $774K | 1.0% | 2026-Q1 |
| COMMONWEALTH EQUITY SERVICES, LLC | 27,778 | $745K | 0.9% | 2026-Q1 |
| Blue Sky Capital Consultants Group, Inc. | 23,307 | $625K | 0.8% | 2026-Q1 |
| Kestra Advisory Services, LLC added | 21,493 | $576K | 0.7% | 2026-Q1 |
| Tradition Wealth Management, LLC trimmed | 21,112 | $566K | 0.7% | 2026-Q1 |
| ARS Investment Partners, LLC | 19,900 | $534K | 0.7% | 2026-Q1 |
| Lifestyle Asset Management, Inc. trimmed | 16,849 | $452K | 0.6% | 2026-Q1 |
| Crown Wealth Group, LLC trimmed | 16,751 | $449K | 0.6% | 2026-Q1 |
| Clear Creek Financial Management, LLC new | 15,357 | $412K | 0.5% | 2026-Q1 |
| Kovack Advisors, Inc. | 14,782 | $397K | 0.5% | 2026-Q1 |
| Creative Planning | 13,994 | $375K | 0.5% | 2026-Q1 |
| Ausdal Financial Partners, Inc. | 11,600 | $311K | 0.4% | 2026-Q1 |
| Investment Partners Asset Management, Inc. added | 8,522 | $229K | 0.3% | 2026-Q1 |
| Farther Finance Advisors, LLC new | 7,488 | $201K | 0.2% | 2026-Q1 |
| DIVERSIFY WEALTH MANAGEMENT, LLC new | 7,294 | $200K | 0.2% | 2026-Q1 |
| Spire Wealth Management added | 7,198 | $193K | 0.2% | 2026-Q1 |
| AE Wealth Management LLC trimmed | 4,069 | $109K | 0.1% | 2026-Q1 |
| Advisory Services Network, LLC trimmed | 1,000 | $27K | 0.0% | 2026-Q1 |
| Elevated Capital Advisors, LLC trimmed | 174 | $5K | 0.0% | 2026-Q1 |
| UBS Group AG added | 172 | $5K | 0.0% | 2026-Q1 |
| IFP Advisors, Inc | 51 | $1K | 0.0% | 2026-Q1 |
| Kingdom Financial Group LLC. | 1 | $23 | 0.0% | 2026-Q1 |
| Lloyd Advisory Services, LLC. trimmed | 1 | $23 | 0.0% | 2026-Q1 |
| Authentikos Wealth Advisory, LLC added | 108,477 | $3M | 3.4% | 2025-Q1 stale |
| HOWARD BAILEY SECURITIES, LLC added | 102,914 | $3M | 3.2% | 2025-Q1 stale |
| Strategic Blueprint, LLC trimmed | 95,847 | $3M | 3.2% | 2025-Q3 stale |
| GOLDMAN SACHS GROUP INC added | 52,436 | $1M | 1.7% | 2025-Q4 stale |
| CreativeOne Wealth, LLC trimmed | 44,381 | $1M | 1.4% | 2025-Q1 stale |
| JPMORGAN CHASE & CO added | 42,376 | $1M | 1.3% | 2025-Q1 stale |
| FSR Wealth Management Ltd. trimmed | 39,994 | $1M | 1.2% | 2025-Q1 stale |
| POM Investment Strategies, LLC trimmed | 38,390 | $961K | 1.2% | 2025-Q1 stale |
| CITADEL ADVISORS LLC new | 34,722 | $930K | 1.1% | 2025-Q3 stale |
| GeoWealth Management, LLC trimmed | 28,064 | $703K | 0.9% | 2025-Q1 stale |
| Outlook Wealth Advisors, LLC trimmed | 26,475 | $663K | 0.8% | 2025-Q1 stale |
| BlackRock, Inc. trimmed | 20,000 | $501K | 0.6% | 2025-Q1 stale |
| Kestra Investment Management, LLC new | 14,445 | $389K | 0.5% | 2025-Q4 stale |
| TOUNJIAN ADVISORY PARTNERS, LLC trimmed | 15,128 | $379K | 0.5% | 2025-Q2 stale |
| Snowden Capital Advisors LLC trimmed | 11,466 | $307K | 0.4% | 2025-Q3 stale |
| FSA Advisors, Inc. trimmed | 12,096 | $303K | 0.4% | 2025-Q1 stale |
| OneDigital Investment Advisors LLC added | 11,514 | $288K | 0.4% | 2025-Q1 stale |
| Signal Advisors Wealth, LLC trimmed | 9,853 | $264K | 0.3% | 2025-Q3 stale |
| Allie Family Office LLC | 9,964 | $249K | 0.3% | 2025-Q1 stale |
| Blackston Financial Advisory Group, LLC new | 8,701 | $218K | 0.3% | 2025-Q1 stale |
| Thrivent Financial for Lutherans | 7,810 | $211K | 0.3% | 2025-Q4 stale |
| FIFTH THIRD BANCORP new | 1,306 | $34K | 0.0% | 2025-Q2 stale |
| Lord & Richards Wealth Management, LLC trimmed | 1,309 | $33K | 0.0% | 2025-Q1 stale |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO new | 900 | $24K | 0.0% | 2025-Q4 stale |
| Park Square Financial Group, LLC trimmed | 642 | $16K | 0.0% | 2025-Q1 stale |
| Quest 10 Wealth Builders, Inc. trimmed | 615 | $15K | 0.0% | 2025-Q1 stale |
| NATIONAL BANK OF CANADA /FI/ | 425 | $11K | 0.0% | 2025-Q4 stale |
| Capital A Wealth Management, LLC trimmed | 15 | $376 | 0.0% | 2025-Q1 stale |
| Transce3nd, LLC trimmed | 5 | $125 | 0.0% | 2025-Q1 stale |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | 0 | — | 0.0% | 2025-Q2 stale |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.