Vault-13

DIREXION SHS ETF TR TMF

DAILY 20+ YEAR T · ETP · CUSIP 25460G138

51 institutional holders +2 vs Q1 2026
4,111,9084.1m shares reported held*
$146.2mreported value*
10 new 20 added 11 reduced 8 sold out net bought ≈ $13.7m (+387.3k 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 ≈ $35.56. Options: 3 managers hold calls ($167.2m notional), 4 hold puts ($180.8m).

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0255075Q4 23: 49Q1 24: 57Q2 24: 56Q3 24: 68Q4 24: 70Q1 25: 68Q2 25: 64Q3 25: 56Q4 25: 52Q1 26: 49Q2 26: 5151Q4 23Q2 24Q4 24Q2 25Q4 25Q2 26
Numbers
QuarterHolders
Q4 202349
Q1 202457
Q2 202456
Q3 202468
Q4 202470
Q1 202568
Q2 202564
Q3 202556
Q4 202552
Q1 202649
Q2 202651

Buyers vs sellers

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

Bought or addedCut or sold out
50050Q3 24: 40 bought or addedQ3 24: 27 cut or sold outQ4 24: 41 bought or addedQ4 24: 36 cut or sold outQ4 24Q1 25: 36 bought or addedQ1 25: 36 cut or sold outQ2 25: 34 bought or addedQ2 25: 32 cut or sold outQ2 25Q3 25: 25 bought or addedQ3 25: 35 cut or sold outQ4 25: 25 bought or addedQ4 25: 33 cut or sold outQ4 25Q1 26: 25 bought or addedQ1 26: 28 cut or sold outQ2 26: 30 bought or addedQ2 26: 19 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 20244027
Q4 20244136
Q1 20253636
Q2 20253432
Q3 20252535
Q4 20252533
Q1 20262528
Q2 20263019

Calls vs puts

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

CallsPuts
$0$100m$200m$300mQ3 25 calls: $252.9mQ3 25 puts: $290.7mQ3 25P/C 1.15Q4 25 calls: $192.5mQ4 25 puts: $282.6mQ4 25P/C 1.47Q1 26 calls: $239.5mQ1 26 puts: $265.1mQ1 26P/C 1.11Q2 26 calls: $167.2mQ2 26 puts: $180.8mQ2 26P/C 1.08
Numbers
QuarterCallsPutsP/C
Q3 2025$252.9m$290.7m1.15
Q4 2025$192.5m$282.6m1.47
Q1 2026$239.5m$265.1m1.11
Q2 2026$167.2m$180.8m1.08

Biggest buyers

Quadrature Capital Ltd New +428,845+428.8k
JANE STREET GROUP, LLC Added +244,183+244.2k
Marex Group Ltd New +214,234+214.2k
SIMPLEX TRADING, LLC Added +196,769+196.8k
UBS Group AG Added +99,676+99.7k
BANK OF MONTREAL /CAN/ Added +83,600+83.6k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +82,638+82.6k
SG Americas Securities, LLC Added +65,000+65.0k
PPSC Investment Service Corp Added +42,733+42.7k
GOLDMAN SACHS GROUP INC Added +39,925+39.9k

Biggest sellers

CITADEL ADVISORS LLC Sold out -471,166-471.2k
HRT FINANCIAL LP Sold out -424,509-424.5k
Optiver Holding B.V. Reduced -85,353-85.4k
SBI Securities Co., Ltd. Reduced -78,281-78.3k
RAFFLES ASSOCIATES LP Sold out -50,000-50.0k
JPMORGAN CHASE & CO Reduced -35,309-35.3k
Walleye Trading LLC Reduced -22,787-22.8k
CITIGROUP INC Reduced -17,702-17.7k
ROYAL BANK OF CANADA Reduced -16,694-16.7k
Steele Capital Management, Inc. Sold out -10,327-10.3k

Biggest calls

CITADEL ADVISORS LLC Reduced $85.6m2.4m shares
JANE STREET GROUP, LLC Added $44.2m1.2m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $37.4m1.1m shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $75.9m2.1m shares
CITADEL ADVISORS LLC Reduced $54.4m1.5m shares
JANE STREET GROUP, LLC Added $30.4m856.2k shares
BANK OF MONTREAL /CAN/ Added $20.0m563.6k 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 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 563,650563.6k $20.0m $20.0m 0.01% Added +83.6k +83,600
2 SBI Securities Co., Ltd. 0.35% of their portfolio TOKYO, M0 431,942431.9k $15.4m $15.4m 0.35% Reduced -78.3k -78,281
3 Quadrature Capital Ltd 0.13% of their portfolio LONDON, X0 428,845428.8k $15.2m $15.2m 0.13% New
4 SIMPLEX TRADING, LLC 0.34% of their portfolio CHICAGO, IL 369,781369.8k $13.1m $13.1m 0.34% Added +196.8k +196,769
5 PPSC Investment Service Corp 0.75% of their portfolio TOKYO, M0 334,812334.8k $11.9m $11.9m 0.75% Added +42.7k +42,733
6 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 302,607302.6k $10.8m $10.8m 0.01% Added +82.6k +82,638
7 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 250,772250.8k $8.9m $8.9m 0.01% Added +244.2k +244,183
8 UBS Group AG 0.00% of their portfolio ZURICH, V8 232,410232.4k $8.3m $8.3m 0.00% Added +99.7k +99,676
9 Marex Group Ltd 0.06% of their portfolio London, X0 214,234214.2k $7.6m $7.6m 0.06% New
10 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 177,994178.0k $6.3m $6.3m 0.00% Added +65.0k +65,000
11 GROUP ONE TRADING LLC 0.13% of their portfolio CHICAGO, IL 131,190131.2k $4.7m $4.7m 0.13% Added +26.8k +26,798
12 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 101,343101.3k $3.7m $3.7m 0.00% Reduced -35.3k -35,309
13 Walleye Trading LLC 0.05% of their portfolio NEW YORK, NY 96,01396.0k $3.4m $3.4m 0.05% Reduced -22.8k -22,787
14 HOLLENCREST CAPITAL MANAGEMENT 0.15% of their portfolio NEWPORT BEACH, CA 65,20265.2k $2.3m $2.3m 0.15% Reduced -1.8k -1,766
15 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 62,62062.6k $2.2m $2.2m 0.00% Added +39.9k +39,925
16 Capital Investment Counsel, Inc 0.22% of their portfolio RALEIGH, NC 57,73057.7k $2.1m $2.1m 0.22% Added +4.5k +4,530
17 XTX Topco Ltd 0.02% of their portfolio LONDON, X0 46,52246.5k $1.7m $1.7m 0.02% Added +18.1k +18,148
18 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 30,02830.0k $1.1m $1.1m 0.00% Reduced -17.7k -17,702
19 PING CAPITAL MANAGEMENT, INC. 0.32% of their portfolio NEW YORK, NY 28,00028.0k $995.4k $995.4k 0.32% Unchanged
20 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 25,33525.3k $901.0k $901.0k 0.00% Reduced -16.7k -16,694
21 Optiver Holding B.V. 0.01% of their portfolio AMSTERDAM, P7 20,10820.1k $714.8k $714.8k 0.01% Reduced -85.4k -85,353
22 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 20,00220.0k $711.1k $711.1k 0.00% New
23 Savant Capital, LLC 0.00% of their portfolio ROCKFORD, IL 19,65019.6k $620.2k $620.2k 0.00% New
24 Encompass More Asset Management 0.09% of their portfolio Danville, CA 16,95016.9k $602.6k $602.6k 0.09% Added +1.7k +1,710
25 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 12,79212.8k $454.8k $454.8k 0.00% Unchanged
26 PMV Capital Advisers, LLC 0.64% of their portfolio DALLAS, TX 12,04112.0k $428.1k $428.1k 0.64% Added +1.9k +1,888
27 Vontobel Holding Ltd. 0.00% of their portfolio ZURICH, V8 9,9329.9k $353.1k $353.1k 0.00% Reduced -600 -600
28 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 9,4329.4k $335.3k $335.3k 0.00% Added +1.4k +1,422
29 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 7,9017.9k $280.9k $280.9k 0.00% Added +7.5k +7,513
30 OneDigital Investment Advisors LLC 0.00% of their portfolio OVERLAND PARK, KS 7,5007.5k $266.6k $266.6k 0.00% New
31 DV Trading LLC 0.02% of their portfolio CHICAGO, IL 7,4367.4k $264.4k $264.4k 0.02% New
32 Simplicity Wealth,LLC 0.01% of their portfolio SUMMIT, NJ 6,0886.1k $216.4k $216.4k 0.01% Added +59 +59
33 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 2,4402.4k $86.7k $86.7k 0.00% Added +2.2k +2,245
34 JTC Employer Solutions Trustee Ltd 0.00% of their portfolio ST HELIER, Y9 1,5001.5k $53.0k $53.0k 0.00% Unchanged
35 FIDUCIARY FINANCIAL ADVISORS 0.00% of their portfolio GRAND RAPIDS, MI 1,1291.1k $40.1k $40.1k 0.00% New
36 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 1,1231.1k $39.9k $39.9k 0.00% Reduced -7.1k -7,116
37 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,1011.1k $39.2k $39.2k 0.00% Added +2 +2
38 Cassaday & Co Wealth Management LLC 0.00% of their portfolio MCLEAN, VA 702702 $25.0k $25.0k 0.00% Unchanged
39 IMG Wealth Management, Inc. 0.01% of their portfolio JACKSONVILLE, FL 613613 $21.8k $21.8k 0.01% Unchanged
40 HARBOUR INVESTMENTS, INC. 0.00% of their portfolio MADISON, WI 485485 $17.2k $17.2k 0.00% Unchanged
41 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 425425 $15.1k $15.1k 0.00% New
42 Kings Path Partners LLC 0.00% of their portfolio SUGAR LAND, TX 313313 $11.1k $11.1k 0.00% Added +272 +272
43 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 305305 $10.8k $10.8k 0.00% Added +3 +3
44 PayPay Securities Corp 0.22% of their portfolio TOKYO, M0 251251 $8.9k $8.9k 0.22% Reduced -8 -8
45 Global Retirement Partners, LLC 0.00% of their portfolio San Rafael, CA 203203 $7.2k $7.2k 0.00% First filing
46 Federation des caisses Desjardins du Quebec 0.00% of their portfolio LEVIS, A8 195195 $6.9k $6.9k 0.00% Unchanged
47 HANTZ FINANCIAL SERVICES, INC. 0.00% of their portfolio SOUTHFIELD, MI 100100 $4.0k $4.0k 0.00% Unchanged
48 TD Waterhouse Canada Inc. 0.00% of their portfolio TORONTO, A6 7575 $2.6k $2.6k 0.00% Reduced -75 -75
49 AMERIFLEX GROUP, INC. 0.00% of their portfolio LAS VEGAS, NV 5454 $1.9k $1.9k 0.00% Unchanged
50 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 3030 $1.1k $1.1k 0.00% New
51 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 22 $71 $71 0.00% New