Vault-13

DIREXION SHS ETF TR TMF

DAILY 20+ YEAR T · ETP · CUSIP 25460G138

64 institutional holders -4 vs Q1 2025
3,789,7093.8m shares reported held*
$148.7mreported value*
15 new 19 added 13 reduced 19 sold out net sold ≈ $29.1m (-741.1k 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 ≈ $39.24. Options: 7 managers hold calls ($220.3m notional), 5 hold puts ($231.2m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0255075Q4 23: 49Q1 24: 57Q2 24: 56Q3 24: 68Q4 24: 70Q1 25: 68Q2 25: 6464Q4 23Q2 24Q4 24Q2 25
Numbers
QuarterHolders
Q4 202349
Q1 202457
Q2 202456
Q3 202468
Q4 202470
Q1 202568
Q2 202564

Buyers vs sellers

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

Bought or addedCut or sold out
50050Q1 24: 38 bought or addedQ1 24: 21 cut or sold outQ1 24Q2 24: 26 bought or addedQ2 24: 24 cut or sold outQ2 24Q3 24: 40 bought or addedQ3 24: 27 cut or sold outQ3 24Q4 24: 41 bought or addedQ4 24: 36 cut or sold outQ4 24Q1 25: 36 bought or addedQ1 25: 36 cut or sold outQ1 25Q2 25: 34 bought or addedQ2 25: 32 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q1 20243821
Q2 20242624
Q3 20244027
Q4 20244136
Q1 20253636
Q2 20253432

Calls vs puts

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

CallsPuts
$0$200m$400m$600mQ3 24 calls: $268.4mQ3 24 puts: $457.3mQ3 24P/C 1.70Q4 24 calls: $177.3mQ4 24 puts: $212.5mQ4 24P/C 1.20Q1 25 calls: $212.2mQ1 25 puts: $146.5mQ1 25P/C 0.69Q2 25 calls: $220.3mQ2 25 puts: $231.2mQ2 25P/C 1.05
Numbers
QuarterCallsPutsP/C
Q3 2024$268.4m$457.3m1.70
Q4 2024$177.3m$212.5m1.20
Q1 2025$212.2m$146.5m0.69
Q2 2025$220.3m$231.2m1.05

Biggest buyers

Jump Financial, LLC Added +258,272+258.3k
CITIGROUP INC New +167,010+167.0k
SIMPLEX TRADING, LLC New +166,816+166.8k
Virtu Financial LLC Added +152,218+152.2k
UBS Group AG Added +106,356+106.4k
RENAISSANCE TECHNOLOGIES LLC New +94,540+94.5k
NORTHERN TRUST CORP New +80,000+80.0k
MARSHALL WACE, LLP New +71,000+71.0k
GROUP ONE TRADING LLC New +64,052+64.1k
Optiver Holding B.V. Added +42,067+42.1k

Biggest sellers

Maple Rock Capital Partners Inc. Sold out -945,000-945.0k
CITADEL ADVISORS LLC Sold out -546,259-546.3k
GTS SECURITIES LLC Reduced -182,133-182.1k
BNP PARIBAS FINANCIAL MARKETS Sold out -146,356-146.4k
JPMORGAN CHASE & CO Reduced -92,760-92.8k
Lighthouse Investment Partners, LLC Sold out -60,000-60.0k
MORGAN STANLEY Reduced -56,035-56.0k
Capital Investment Counsel, Inc Sold out -48,400-48.4k
WOLVERINE TRADING, LLC Sold out -43,782-43.8k
BARCLAYS PLC Reduced -31,262-31.3k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $98.7m2.5m shares
JANE STREET GROUP, LLC Added $63.6m1.6m shares
CITADEL ADVISORS LLC Added $31.7m807.2k shares
Shengqi Capital (Hong Kong) Ltd New $24.1m615.0k shares
Squarepoint Ops LLC Unchanged $2.0m50.9k shares
Belvedere Trading LLC Reduced $184.8k5.7k shares
HAP Trading, LLC Reduced $11.9k15.6k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $119.3m3.0m shares
JANE STREET GROUP, LLC Added $108.0m2.8m shares
CITADEL ADVISORS LLC Reduced $2.9m74.4k shares
Squarepoint Ops LLC Unchanged $914.3k23.3k shares
Belvedere Trading LLC Unchanged $27.5k700 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, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 SBI Securities Co., Ltd. 0.72% of their portfolio TOKYO, M0 638,282638.3k $25.0m $25.0m 0.72% Reduced -2.7k -2,725
2 Jump Financial, LLC 0.23% of their portfolio Chicago, IL 482,070482.1k $18.9m $18.9m 0.23% Added +258.3k +258,272
3 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.02% of their portfolio BALA CYNWYD, PA 301,931301.9k $11.8m $11.8m 0.02% Added +38.2k +38,165
4 PPSC Investment Service Corp 0.75% of their portfolio TOKYO, M0 204,793204.8k $8.0m $8.0m 0.75% Added +37.8k +37,806
5 Virtu Financial LLC 0.39% of their portfolio New York, NY 194,423194.4k $7.6m $7.6m 0.39% Added +152.2k +152,218
6 UBS Group AG 0.00% of their portfolio ZURICH, V8 184,998185.0k $7.3m $7.3m 0.00% Added +106.4k +106,356
7 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 167,010167.0k $6.6m $6.6m 0.00% New
8 SIMPLEX TRADING, LLC 0.18% of their portfolio CHICAGO, IL 166,816166.8k $6.5m $6.5m 0.18% New
9 GTS SECURITIES LLC 0.26% of their portfolio NEW YORK, NY 146,502146.5k $5.7m $5.7m 0.26% Reduced -182.1k -182,133
10 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 130,734130.7k $5.1m $5.1m 0.00% Reduced -56.0k -56,035
11 SG Americas Securities, LLC 0.02% of their portfolio NEW YORK, NY 100,140100.1k $3.9m $3.9m 0.02% Added +24.7k +24,747
12 IHT Wealth Management, LLC 0.10% of their portfolio Chicago, IL 95,40095.4k $3.7m $3.7m 0.10% Added +32.7k +32,730
13 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 94,54094.5k $3.7m $3.7m 0.00% New
14 HOLLENCREST CAPITAL MANAGEMENT 0.14% of their portfolio NEWPORT BEACH, CA 82,39182.4k $3.2m $3.2m 0.14% Added +4.7k +4,737
15 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 80,00080.0k $3.1m $3.1m 0.00% New
16 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 74,02074.0k $2.9m $2.9m 0.00% Reduced -92.8k -92,760
17 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 71,00071.0k $2.8m $2.8m 0.00% New
18 GROUP ONE TRADING LLC 0.08% of their portfolio CHICAGO, IL 64,05264.1k $2.5m $2.5m 0.08% New
19 Optiver Holding B.V. 0.06% of their portfolio AMSTERDAM, P7 57,48657.5k $2.3m $2.3m 0.06% Added +42.1k +42,067
20 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 54,35254.4k $2.1m $2.1m 0.00% Reduced -31.3k -31,262
21 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 47,59147.6k $1.9m $1.9m 0.00% Added +16.8k +16,781
22 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 44,99645.0k $1.8m $1.8m 0.00% Added +20.4k +20,394
23 CANTOR FITZGERALD, L. P. 0.03% of their portfolio NEW YORK, NY 35,05335.1k $1.4m $1.4m 0.03% Added +2.3k +2,258
24 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 33,59033.6k $1.3m $1.3m 0.00% Unchanged
25 LifeGuide Financial Advisors, LLC 0.35% of their portfolio MECHANICSBURG, PA 24,29424.3k $953.3k $953.3k 0.35% Added +3.9k +3,940
26 Belvedere Trading LLC 0.07% of their portfolio CHICAGO, IL 22,23222.2k $872.4k $872.4k 0.07% Added +21.8k +21,767
27 Marex Group Ltd 0.02% of their portfolio London, X0 21,58321.6k $846.9k $846.9k 0.02% Reduced -15.9k -15,921
28 Scientech Research LLC 0.17% of their portfolio JERSEY CITY, NJ 18,13518.1k $711.6k $711.6k 0.17% New
29 Mariner, LLC 0.00% of their portfolio Overland Park, KS 16,13116.1k $633.0k $633.0k 0.00% Added +4.1k +4,118
30 INTEGRITY ALLIANCE, LLC. 0.03% of their portfolio Urbandale, IA 15,00015.0k $588.6k $588.6k 0.03% Reduced -299 -299
31 Vontobel Holding Ltd. 0.00% of their portfolio ZURICH, V8 13,73713.7k $539.0k $539.0k 0.00% Reduced -566 -566
32 HRT FINANCIAL LP 0.00% of their portfolio NEW YORK, NY 12,15712.2k $477.0k $477.0k 0.00% New
33 FLOW TRADERS U.S. LLC 0.02% of their portfolio NEW YORK, NY 10,48910.5k $412.0k $412.0k 0.02% New
34 XTX Topco Ltd 0.02% of their portfolio LONDON, X0 10,28010.3k $403.4k $403.4k 0.02% New
35 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 10,17410.2k $399.2k $399.2k 0.00% New
36 PMV Capital Advisers, LLC 0.73% of their portfolio DALLAS, TX 8,3988.4k $329.5k $329.5k 0.73% Added +607 +607
37 EXENCIAL WEALTH ADVISORS, LLC 0.01% of their portfolio OKLAHOMA CITY, OK 8,0008.0k $313.9k $313.9k 0.01% Unchanged
38 RHS Financial, LLC 0.18% of their portfolio SAN FRANCISCO, CA 7,9147.9k $310.5k $310.5k 0.18% New
39 PRELUDE CAPITAL MANAGEMENT, LLC 0.03% of their portfolio NEW YORK, NY 7,4307.4k $291.6k $291.6k 0.03% New
40 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 7,0377.0k $267.2k $267.2k 0.00% New
41 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 6,2416.2k $244.9k $244.9k 0.00% Added +58 +58
42 Arkadios Wealth Advisors 0.01% of their portfolio ATLANTA, GA 5,2005.2k $204.0k $204.0k 0.01% Unchanged
43 Hillsdale Investment Management Inc. 0.00% of their portfolio Toronto, A6 2,9883.0k $117.2k $117.2k 0.00% Reduced -1.4k -1,430
44 SSA SWISS ADVISORS AG 0.05% of their portfolio ZURICH, V8 2,9302.9k $106.6k $106.6k 0.05% Unchanged
45 JTC Employer Solutions Trustee Ltd 0.01% of their portfolio ST HELIER, Y9 1,5001.5k $59.0k $59.0k 0.01% Unchanged
46 EverSource Wealth Advisors, LLC 0.00% of their portfolio BIRMINGHAM, AL 1,0001.0k $39.2k $39.2k 0.00% Unchanged
47 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 978978 $38.4k $38.4k 0.00% Added +412 +412
48 CIBC Private Wealth Group LLC 0.00% of their portfolio ATLANTA, GA 700700 $27.5k $27.5k 0.00% Unchanged
49 IMG Wealth Management, Inc. 0.02% of their portfolio JACKSONVILLE, FL 613613 $24.1k $24.1k 0.02% Unchanged
50 Federation des caisses Desjardins du Quebec 0.00% of their portfolio LEVIS, A8 609609 $23.9k $23.9k 0.00% Reduced -262 -262
51 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 500500 $19.6k $19.6k 0.00% Unchanged
52 AE Wealth Management LLC 0.00% of their portfolio TOPEKA, KS 418418 $16.4k $16.4k 0.00% Unchanged
53 PayPay Securities Corp 0.52% of their portfolio TOKYO, M0 272272 $10.7k $10.7k 0.52% Reduced -115 -115
54 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 261261 $10.2k $10.2k 0.00% Added +2 +2
55 HANTZ FINANCIAL SERVICES, INC. 0.00% of their portfolio SOUTHFIELD, MI 100100 $4.0k $4.0k 0.00% Unchanged
56 Parallel Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 9191 $3.6k $3.6k 0.00% Unchanged
57 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 5050 $2.0k $2.0k 0.00% New
58 Kings Path Partners LLC 0.00% of their portfolio SUGAR LAND, TX 3535 $1.4k $1.4k 0.00% Reduced -1 -1
59 Ascentis Wealth Management, LLC 0.00% of their portfolio DALLAS, TX 3131 $1.2k $1.2k 0.00% Unchanged
60 HARBOUR INVESTMENTS, INC. 0.00% of their portfolio MADISON, WI 1515 $589 $589 0.00% Unchanged
61 Blue Trust, Inc. 0.00% of their portfolio BRENTWOOD, TN 1313 $510 $510 0.00% Unchanged
62 CoreCap Advisors, LLC 0.00% of their portfolio SOUTHFIELD, MI 22 $101 $101 0.00% Reduced -1 -1
63 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 11 $39 $39 0.00% Unchanged
64 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged