Vault-13

DIREXION SHS ETF TR TNA

DLY SMCAP BULL3X · ETP · CUSIP 25459W847

102 institutional holders +11 vs Q2 2025
4,635,9564.6m shares reported held*
$209.7mreported value*
27 new 22 added 36 reduced 17 sold out net sold ≈ $76.3m (-1.7m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $45.23. Options: 8 managers hold calls ($341.2m notional), 7 hold puts ($252.4m).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

050100150Q3 22: 45Q4 22: 53Q1 23: 51Q2 23: 62Q3 23: 53Q4 23: 85Q1 24: 82Q2 24: 82Q3 24: 102Q4 24: 105Q1 25: 83Q2 25: 91Q3 25: 102102Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 202245
Q4 202253
Q1 202351
Q2 202362
Q3 202353
Q4 202385
Q1 202482
Q2 202482
Q3 2024102
Q4 2024105
Q1 202583
Q2 202591
Q3 2025102

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
1000100Q4 23: 64 bought or addedQ4 23: 22 cut or sold outQ1 24: 48 bought or addedQ1 24: 49 cut or sold outQ1 24Q2 24: 41 bought or addedQ2 24: 47 cut or sold outQ3 24: 57 bought or addedQ3 24: 46 cut or sold outQ3 24Q4 24: 52 bought or addedQ4 24: 55 cut or sold outQ1 25: 37 bought or addedQ1 25: 61 cut or sold outQ1 25Q2 25: 56 bought or addedQ2 25: 42 cut or sold outQ3 25: 49 bought or addedQ3 25: 53 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 20236422
Q1 20244849
Q2 20244147
Q3 20245746
Q4 20245255
Q1 20253761
Q2 20255642
Q3 20254953

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$100m$200m$300m$400mQ4 24 calls: $379.8mQ4 24 puts: $252.1mQ4 24P/C 0.66Q1 25 calls: $203.1mQ1 25 puts: $143.5mQ1 25P/C 0.71Q2 25 calls: $305.9mQ2 25 puts: $179.5mQ2 25P/C 0.59Q3 25 calls: $341.2mQ3 25 puts: $252.4mQ3 25P/C 0.74
Numbers
QuarterCallsPutsP/C
Q4 2024$379.8m$252.1m0.66
Q1 2025$203.1m$143.5m0.71
Q2 2025$305.9m$179.5m0.59
Q3 2025$341.2m$252.4m0.74

Biggest buyers

Sollinda Capital Management LLC New +436,625+436.6k
AXXCESS WEALTH MANAGEMENT, LLC New +128,722+128.7k
Ridgepath Capital Management LLC New +128,722+128.7k
Jump Financial, LLC New +106,837+106.8k
UBS Group AG Added +93,197+93.2k
ICON ADVISERS INC/CO Added +84,000+84.0k
GTS SECURITIES LLC Added +56,469+56.5k
Encompass More Asset Management Added +54,300+54.3k
XTX Topco Ltd New +38,528+38.5k
FNY Investment Advisers, LLC Added +29,400+29.4k

Biggest sellers

Tidal Investments LLC Sold out -1,176,068-1.2m
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -346,728-346.7k
PEREGRINE INVESTMENT MANAGEMENT INC Sold out -300,000-300.0k
CITADEL ADVISORS LLC Reduced -265,967-266.0k
Squarepoint Ops LLC Sold out -200,466-200.5k
FLOW TRADERS U.S. LLC Reduced -170,300-170.3k
Tower Research Capital LLC (TRC) Reduced -94,730-94.7k
SIMPLEX TRADING, LLC Reduced -69,891-69.9k
Ashton Thomas Private Wealth, LLC Reduced -56,126-56.1k
MORGAN STANLEY Reduced -40,145-40.1k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $189.3m4.2m shares
CITADEL ADVISORS LLC Reduced $75.4m1.7m shares
JANE STREET GROUP, LLC Reduced $42.2m932.3k shares
WOLVERINE TRADING, LLC Reduced $31.8m706.4k shares
Squarepoint Ops LLC Unchanged $1.8m39.8k shares
HAP Trading, LLC First filing $311.9k24.9k shares
Vontobel Holding Ltd. Unchanged $298.6k6.6k shares
INTEGRITY ALLIANCE, LLC. New $135.7k3.0k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $132.0m2.9m shares
JANE STREET GROUP, LLC Added $79.8m1.8m shares
WOLVERINE TRADING, LLC Reduced $21.6m478.4k shares
CITADEL ADVISORS LLC Reduced $18.2m401.5k shares
Squarepoint Ops LLC Unchanged $619.8k13.7k shares
Astra Wealth Partners LLC New $226.2k5.0k shares
HAP Trading, LLC First filing $25.7k10.4k shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 JANE STREET GROUP, LLC 0.10% of their portfolio NEW YORK, NY 1,814,7831.8m $82.1m $82.1m 0.10% Added +7.2k +7,200
2 Sollinda Capital Management LLC 5.41% of their portfolio HICKORY, NC 436,625436.6k $19.8m $19.8m 5.41% New
3 UBS Group AG 0.00% of their portfolio ZURICH, V8 298,311298.3k $13.5m $13.5m 0.00% Added +93.2k +93,197
4 ELEVATUS WELATH MANAGEMENT 2.59% of their portfolio VICTOR, NY 198,275198.3k $9.0m $9.0m 2.59% Reduced -4.5k -4,497
5 AXXCESS WEALTH MANAGEMENT, LLC 0.12% of their portfolio CARLSBAD, CA 128,722128.7k $5.8m $5.8m 0.12% New
6 Ridgepath Capital Management LLC 2.49% of their portfolio Knoxville, TN 128,722128.7k $5.8m $5.8m 2.49% New
7 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 112,366112.4k $5.1m $5.1m 0.01% Reduced -346.7k -346,728
8 GTS SECURITIES LLC 0.19% of their portfolio NEW YORK, NY 111,415111.4k $5.0m $5.0m 0.19% Added +56.5k +56,469
9 Jump Financial, LLC 0.06% of their portfolio Chicago, IL 106,837106.8k $4.8m $4.8m 0.06% New
10 ICON ADVISERS INC/CO 0.91% of their portfolio GREENWOOD VILLAGE, CO 91,55091.5k $4.1m $4.1m 0.91% Added +84.0k +84,000
11 Encompass More Asset Management 0.74% of their portfolio Danville, CA 84,76484.8k $3.8m $3.8m 0.74% Added +54.3k +54,300
12 SIMPLEX TRADING, LLC 0.07% of their portfolio CHICAGO, IL 70,87770.9k $3.2m $3.2m 0.07% Reduced -69.9k -69,891
13 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 67,84167.8k $3.1m $3.1m 0.00% Reduced -12.5k -12,463
14 FLOW TRADERS U.S. LLC 0.12% of their portfolio NEW YORK, NY 66,50566.5k $3.0m $3.0m 0.12% Reduced -170.3k -170,300
15 Virtu Financial LLC 0.13% of their portfolio New York, NY 51,51851.5k $2.3m $2.3m 0.13% Reduced -15.6k -15,610
16 Physician Wealth Advisors, Inc. 0.27% of their portfolio MIDVALE, UT 42,58142.6k $1.9m $1.9m 0.27% Unchanged
17 XTX Topco Ltd 0.09% of their portfolio LONDON, X0 38,52838.5k $1.7m $1.7m 0.09% New
18 Watts Gwilliam & Co., LLC 0.25% of their portfolio GILBERT, AZ 33,63633.6k $1.5m $1.5m 0.25% Added +2.5k +2,469
19 FNY Investment Advisers, LLC 0.44% of their portfolio NEW YORK, NY 30,00030.0k $1.4m $1.4m 0.44% Added +29.4k +29,400
20 Westwood Wealth Management 0.48% of their portfolio Los Angeles, CA 28,80528.8k $1.3m $1.3m 0.48% Reduced -13.6k -13,560
21 TrueMark Investments, LLC 0.22% of their portfolio CHICAGO, IL 28,09728.1k $1.3m $1.3m 0.22% Reduced -11.7k -11,718
22 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 27,94627.9k $1.3m $1.3m 0.00% New
23 WOLVERINE TRADING, LLC 0.03% of their portfolio CHICAGO, IL 27,84527.8k $1.3m $1.3m 0.03% Reduced -5.4k -5,430
24 Tower Research Capital LLC (TRC) 0.03% of their portfolio NEW YORK, NY 26,44626.4k $1.2m $1.2m 0.03% Reduced -94.7k -94,730
25 Great Hill Capital LLC 0.98% of their portfolio NEW YORK, NY 26,41026.4k $1.2m $1.2m 0.98% First filing
26 Viewpoint Capital Management LLC 0.51% of their portfolio SEATTLE, WA 25,80025.8k $1.2m $1.2m 0.51% Unchanged
27 Significant Wealth Partners LLC 0.55% of their portfolio CARY, IL 24,73824.7k $1.1m $1.1m 0.55% Reduced -1.5k -1,496
28 Revere Asset Management, Inc 0.41% of their portfolio DALLAS, TX 23,90423.9k $1.1m $1.1m 0.41% New
29 Orion Porfolio Solutions, LLC 0.01% of their portfolio OMAHA, NE 22,59522.6k $1.0m $1.0m 0.01% Added +6.3k +6,313
30 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 22,53822.5k $1.0m $1.0m 0.00% New
31 Blue Sky Capital Consultants Group, Inc. 0.39% of their portfolio Poway, CA 19,69519.7k $891.0k $891.0k 0.39% Reduced -6.8k -6,753
32 FOUNDERS FINANCIAL SECURITIES LLC 0.06% of their portfolio TOWSON, MD 19,58219.6k $885.9k $885.9k 0.06% Reduced -2.6k -2,552
33 SURIENCE PRIVATE WEALTH LLC 0.83% of their portfolio YAKIMA, WA 19,42019.4k $878.6k $878.6k 0.83% Reduced -19.5k -19,462
34 Parkshore Wealth Management, Inc. 0.34% of their portfolio Granite Bay, CA 18,22218.2k $824.4k $824.4k 0.34% Reduced -28.3k -28,333
35 DRW Securities, LLC 0.04% of their portfolio CHICAGO, IL 18,16518.2k $823.9k $823.9k 0.04% Added +7.7k +7,650
36 Discipline Wealth Solutions, LLC 0.21% of their portfolio GREENVILLE, SC 17,58517.6k $795.6k $795.6k 0.21% Reduced -6.8k -6,777
37 CPR Investments Inc. 0.53% of their portfolio Rochester, MI 17,14817.1k $775.8k $775.8k 0.53% Reduced -4.8k -4,821
38 Retirement Planning Co of New England, Inc. 0.30% of their portfolio Warwick, RI 16,41316.4k $742.5k $742.5k 0.30% Reduced -2.3k -2,273
39 Foundations Investment Advisors, LLC 0.01% of their portfolio PHOENIX, AZ 15,68715.7k $709.7k $709.7k 0.01% New
40 SLT Holdings LLC 0.46% of their portfolio SCOTTSDALE, AZ 15,50015.5k $701.2k $701.2k 0.46% New
41 Ellis Investment Partners, LLC 0.13% of their portfolio Berwyn, PA 15,42815.4k $698.0k $698.0k 0.13% Added +2.8k +2,764
42 KINGSWOOD WEALTH ADVISORS, LLC 0.04% of their portfolio SAN DIEGO, CA 13,92413.9k $629.9k $629.9k 0.04% Added +390 +390
43 OLD MISSION CAPITAL LLC 0.02% of their portfolio CHICAGO, IL 13,32613.3k $602.9k $602.9k 0.02% New
44 HAP Trading, LLC 0.15% of their portfolio NEW YORK, NY 12,09312.1k $547.1k $547.1k 0.15% First filing
45 Capital Investment Advisory Services, LLC 0.04% of their portfolio RALEIGH, NC 11,63311.6k $526.3k $526.3k 0.04% New
46 SBI Securities Co., Ltd. 0.01% of their portfolio TOKYO, M0 11,49611.5k $520.1k $520.1k 0.01% Reduced -2.5k -2,480
47 Capital Investment Counsel, Inc 0.06% of their portfolio RALEIGH, NC 10,82010.8k $489.5k $489.5k 0.06% Reduced -10.7k -10,650
48 Family Office Research LLC 0.20% of their portfolio Bethesda, MD 10,01610.0k $453.1k $453.1k 0.20% New
49 Baker Avenue Asset Management, LP 0.01% of their portfolio SAN FRANCISCO, CA 9,0009.0k $407.2k $407.2k 0.01% New
50 Summit Financial, LLC 0.01% of their portfolio PARSIPPANY, NJ 8,2938.3k $375.2k $375.2k 0.01% Added +116 +116
51 Ashton Thomas Private Wealth, LLC 0.01% of their portfolio SCOTTSDALE, AZ 8,1308.1k $367.8k $367.8k 0.01% Reduced -56.1k -56,126
52 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 7,8137.8k $353.5k $353.5k 0.00% Reduced -266.0k -265,967
53 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 7,7377.7k $350.0k $350.0k 0.00% Added +614 +614
54 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 7,5337.5k $340.8k $340.8k 0.00% Reduced -40.1k -40,145
55 Modern Wealth Management, LLC 0.01% of their portfolio KANSAS CITY, MO 6,9867.0k $316.0k $316.0k 0.01% Added +24 +24
56 International Private Wealth Advisors LLC 0.19% of their portfolio SAN DIEGO, CA 6,7226.7k $304.1k $304.1k 0.19% Unchanged
57 Mariner, LLC 0.00% of their portfolio Overland Park, KS 6,6916.7k $302.7k $302.7k 0.00% Added +205 +205
58 HRT FINANCIAL LP 0.00% of their portfolio NEW YORK, NY 6,1416.1k $277.0k $277.0k 0.00% New
59 LifeGuide Financial Advisors, LLC 0.08% of their portfolio MECHANICSBURG, PA 6,0496.0k $209.1k $209.1k 0.08% Reduced -224 -224
60 IFP Advisors, Inc 0.01% of their portfolio TAMPA, FL 5,9746.0k $270.3k $270.3k 0.01% New
61 McGuire Investment Group, LLC 0.03% of their portfolio WAKEFIELD, RI 5,7755.8k $261.3k $261.3k 0.03% Reduced -3.7k -3,700
62 CROSSPOINT FINANCIAL, LLC 0.60% of their portfolio TUSTIN, CA 5,4185.4k $245.1k $245.1k 0.60% New
63 Millennium Capital Advisors, LLC 0.14% of their portfolio LITTLE ROCK, AR 5,0415.0k $228.0k $228.0k 0.14% New
64 Private Capital Management, LLC 0.02% of their portfolio NAPLES, FL 5,0005.0k $226.2k $226.2k 0.02% Reduced -5.0k -5,000
65 Integras Partners LLC 0.18% of their portfolio Alpharetta, GA 4,9535.0k $224.1k $224.1k 0.18% New
66 Verdence Capital Advisors LLC 0.01% of their portfolio HUNT VALLEY, MD 4,7404.7k $233.1k $233.1k 0.01% New
67 PRIMORIS WEALTH ADVISORS, LLC 0.13% of their portfolio North Palm Beach, FL 4,5004.5k $203.6k $203.6k 0.13% New
68 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 3,8913.9k $176.0k $176.0k 0.00% New
69 GROUP ONE TRADING LLC 0.00% of their portfolio CHICAGO, IL 3,2893.3k $148.8k $148.8k 0.00% Reduced -1.8k -1,812
70 INTEGRITY ALLIANCE, LLC. 0.01% of their portfolio Urbandale, IA 3,2393.2k $146.6k $146.6k 0.01% New
71 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 3,1363.1k $141.9k $141.9k 0.00% Added +1.2k +1,180
72 1248 Management, LLC 0.07% of their portfolio Kansas City, MO 2,9002.9k $131.2k $131.2k 0.07% Unchanged
73 Covestor Ltd 0.06% of their portfolio LONDON, X0 2,2552.3k $102.0k $102.0k 0.06% New
74 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 2,1682.2k $95.2k $95.2k 0.00% Reduced -160 -160
75 Spire Wealth Management 0.00% of their portfolio MCLEAN, VA 1,9922.0k $90.1k $90.1k 0.00% Added +8 +8
76 Bernard Wealth Management Corp. 0.04% of their portfolio ROYAL OAK, MI 1,8901.9k $85.5k $85.5k 0.04% Added +12 +12
77 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 1,5521.6k $70.2k $70.2k 0.00% Added +1.5k +1,478
78 Hartford Financial Management Inc. 0.02% of their portfolio WEST HARTFORD, CT 1,5001.5k $67.9k $67.9k 0.02% Reduced -750 -750
79 Manchester Capital Management LLC 0.01% of their portfolio MANCHESTER, VT 1,5001.5k $67.9k $67.9k 0.01% Unchanged
80 Copia Wealth Management 0.05% of their portfolio BEND, OR 1,4161.4k $64.1k $64.1k 0.05% Reduced -68 -68
81 OPTIMUM INVESTMENT ADVISORS 0.03% of their portfolio Chicago, IL 1,4001.4k $63.3k $63.3k 0.03% Unchanged
82 Vontobel Holding Ltd. 0.00% of their portfolio ZURICH, V8 1,2001.2k $54.3k $54.3k 0.00% Unchanged
83 BlackRock, Inc. 0.00% of their portfolio New York, NY 994994 $44.9k $44.9k 0.00% Unchanged
84 CWM, LLC 0.00% of their portfolio OMAHA, NE 878878 $40.0k $40.0k 0.00% New
85 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 735735 $33.3k $33.3k 0.00% Added +662 +662
86 FIFTH THIRD BANCORP 0.00% of their portfolio CINCINNATI, OH 428428 $19.4k $19.4k 0.00% New
87 HOLLENCREST CAPITAL MANAGEMENT 0.00% of their portfolio NEWPORT BEACH, CA 400400 $18.1k $18.1k 0.00% Reduced -1.7k -1,695
88 Parallel Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 305305 $13.8k $13.8k 0.00% Reduced -925 -925
89 THURSTON, SPRINGER, MILLER, HERD & TITAK, INC. 0.03% of their portfolio INDIANAPOLIS, IN 300300 $13.6k $13.6k 0.03% Reduced -10.6k -10,560
90 CONSULTIVA WEALTH MANAGEMENT, CORP. 0.04% of their portfolio SAN JUAN, PR 300300 $13.6k $13.6k 0.04% New
91 Federation des caisses Desjardins du Quebec 0.00% of their portfolio LEVIS, A8 200200 $9.0k $9.0k 0.00% Unchanged
92 AE Wealth Management LLC 0.00% of their portfolio TOPEKA, KS 103103 $4.7k $4.7k 0.00% Reduced -6 -6
93 EverSource Wealth Advisors, LLC 0.00% of their portfolio BIRMINGHAM, AL 8484 $3.8k $3.8k 0.00% Unchanged
94 FSA Wealth Management LLC 0.00% of their portfolio Needham, MA 8080 $3.6k $3.6k 0.00% Reduced -1.3k -1,309
95 CoreCap Advisors, LLC 0.00% of their portfolio SOUTHFIELD, MI 6262 $2.8k $2.8k 0.00% Unchanged
96 Main Street Group, LTD 0.00% of their portfolio GLEN ALLEN, VA 5858 $2.6k $2.6k 0.00% Unchanged
97 Blue Trust, Inc. 0.00% of their portfolio BRENTWOOD, TN 2424 $1.1k $1.1k 0.00% Unchanged
98 Signature Resources Capital Management, LLC 0.00% of their portfolio NEWPORT BEACH, CA 2121 $950 $950 0.00% Unchanged
99 Parkside Financial Bank & Trust 0.00% of their portfolio SAINT LOUIS, MO 1313 $597 $597 0.00% Unchanged
100 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 1111 $498 $498 0.00% Added +4 +4