Direxion Daily S&P 500 Bear 3x Shares

SPXS • ARCA

Direxion Daily S&P 500 Bear 3x Shares is an exchange-traded fund on ARCA. As of Q3 2025, 39 institutional investors hold shares in this ETF, with total holdings valued at $35.7M. CITADEL ADVISORS LLC is the largest holder with a position valued at $9.9M.

Overview

Overview of institutional ownership in SPXS as of Q3 2025

All Institutions

Institutions: 39
Value Held: $35.7M
Shares Held: 956.3K
Avg Position: $915.1K
Median Position: $229.0K

Hedge Funds

Hedge Funds: 3
Value Held: $10.0M
Shares Held: 266.2K
Avg Position: $3.3M
Median Position: $92.9K

Biggest Investors

Institutions with the largest positions in SPXS as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	Kenneth Cordele Griffin CEO	$9.9M 0.01% of portfolio	260.2K shares	Q3 2016 Held for 9y 2m	$122.08B
J JANE STREET GROUP, LLC Institution	-	$5.6M 0.01% of portfolio	146.5K shares	Q1 2014 Held for 11y 8m	$84.1B
J Jump Financial, LLC Institution	-	$4.8M 0.07% of portfolio	127.6K shares	Q2 2025 Held for 5 months	$7.4B
SIGNATUREFD, LLC RIA/Wealth	Heather A Robertson Fortner CEO	$2.3M 0.04% of portfolio	60.1K shares	Q1 2022 Held for 3y 8m	$6.3B
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	-	$2.2M 0.00% of portfolio	59.1K shares	≤ Q2 2013 Held for 12y 5m+	$67.9B
V Virtu Financial LLC Institution	-	$1.8M 0.11% of portfolio	47.1K shares	Q3 2025 Held for 2 months	$1.6B
LAZARI CAPITAL MANAGEMENT, INC. RIA/Wealth	Michael Lazari Karapetian President	$1.7M 0.57% of portfolio	43.7K shares	Q1 2024 Held for 1y 8m	$294.0M
S SBI Securities Co., Ltd. Institution	-	$1.4M 0.04% of portfolio	35.8K shares	Q4 2024 Held for 11 months	$3.9B
G GTS SECURITIES LLC Institution	-	$776.3K 0.03% of portfolio	20.4K shares	Q3 2025 Held for 2 months	$2.5B
Hamilton Wealth, LLC RIA/Wealth	George Randy Hamilton Managing Partner	$655.0K 0.14% of portfolio	17.2K shares	Q2 2025 Held for 5 months	$474.1M

Net Capital Flow

Institutional buying and selling activity for SPXS in Q3 2025

Traded: +$20.2M
Buyers: 32
Sellers: 29
Total Bought: +$28.7M
Total Sold: −$8.4M
Avg Position: $575.7K

Biggest Buyers

Institution	Net Bought	Current Position
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	+$9.5M +249.9K shares	$9.9M 260.2K shares
J JANE STREET GROUP, LLC Institution	+$5.4M +141.5K shares	$5.6M 146.5K shares
J Jump Financial, LLC Institution	+$3.6M +94.9K shares	$4.8M 127.6K shares
V Virtu Financial LLC Institution	+$1.8M +47.1K shares	$1.8M 47.1K shares
SIGNATUREFD, LLC RIA/Wealth	+$1.7M +45.1K shares	$2.3M 60.1K shares
LAZARI CAPITAL MANAGEMENT, INC. RIA/Wealth	+$1.4M +37.2K shares	$1.7M 43.7K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	+$780.2K +20.5K shares	$2.2M 59.1K shares
G GTS SECURITIES LLC Institution	+$776.3K +20.4K shares	$776.3K 20.4K shares
Bank of New York Mellon Corp Institution	+$569.9K +15.0K shares	$569.9K 15.0K shares
H HRT FINANCIAL LLC Institution	+$502.5K +13.2K shares	$502.5K 13.2K shares

Biggest Sellers

Institution	Net Sold	Current Position
IMC-Chicago, LLC RIA/Wealth	−$3.0M −65.0K shares	Sold Off 0 shares
HBK Sorce Advisory LLC Hedge Fund•Multi-Strategy	−$1.2M −24.8K shares	Sold Off 0 shares
S SIMPLEX TRADING, LLC Institution	−$1.1M −22.8K shares	Sold Off 0 shares
S Squarepoint Ops LLC Hedge Fund•Quant	−$890.7K −19.0K shares	Sold Off 0 shares
UBS Group AG Institution	−$503.0K −13.2K shares	$149.5K 3.9K shares
GOLDMAN SACHS GROUP INC Institution	−$234.5K −5.0K shares	Sold Off 0 shares
HighTower Advisors, LLC RIA/Wealth	−$201.2K −4.3K shares	Sold Off 0 shares
Streettalk Advisors, LLC RIA/Wealth	−$173.6K −3.7K shares	Sold Off 0 shares
Foundations Investment Advisors, LLC RIA/Wealth	−$172.8K −3.7K shares	Sold Off 0 shares
P Poehling Capital Management, LLC RIA/Wealth	−$154.8K −3.3K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited SPXS in Q3 2025

New Positions: 6
New Value: $598.9K
Exited Positions: 23
Exited Value: $7.8M

New Positions

Institution	Position Value
Triton Wealth Management, PLLC RIA/Wealth	$258.6K 7.4K shares
Kiker Wealth Management, LLC RIA/Wealth	$227.9K 6.0K shares
BTG Pactual Asset Management US LLC Hedge Fund•Multi-Strategy	$92.9K 5.8K shares
Westend Capital Management LLC Hedge Fund•Multi-Strategy	$11.9K 313.0 shares
Quaker Wealth Management, LLC RIA/Wealth	$3.8K 100.0 shares
H HUNTINGTON NATIONAL BANK Long Only Manager	$3.8K 100.0 shares

Exited Positions

Institution	Previous Position
IMC-Chicago, LLC RIA/Wealth	$3.0M 65.0K shares
HBK Sorce Advisory LLC Hedge Fund•Multi-Strategy	$1.2M 24.8K shares
S SIMPLEX TRADING, LLC Institution	$1.1M 22.8K shares
S Squarepoint Ops LLC Hedge Fund•Quant	$890.7K 19.0K shares
GOLDMAN SACHS GROUP INC Institution	$234.5K 5.0K shares
HighTower Advisors, LLC RIA/Wealth	$201.2K 4.3K shares
Streettalk Advisors, LLC RIA/Wealth	$173.6K 3.7K shares
Foundations Investment Advisors, LLC RIA/Wealth	$172.8K 3.7K shares
P Poehling Capital Management, LLC RIA/Wealth	$154.8K 3.3K shares
B Belvedere Trading LLC Institution	$119.7K 2.6K shares

Options Activity

Institutions with the largest Call and Put options positions in SPXS as of Q3 2025

Call Positions: 6
Call Value: $38.2M
Put Positions: 6
Put Value: $54.0M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$27.7M 7.3K contracts
W WOLVERINE TRADING, LLC Institution	$7.8M 2.0K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$2.1M 542.4 contracts
J JANE STREET GROUP, LLC Institution	$392.4K 103.3 contracts
WELLS FARGO & COMPANY/MN Institution	$212.7K 56.0 contracts
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC RIA/Wealth	$42.2K 960.0 contracts

Put Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$32.5M 8.6K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$19.1M 5.0K contracts
W WOLVERINE TRADING, LLC Institution	$1.3M 351.0 contracts
Astra Wealth Partners LLC RIA/Wealth	$1.1M 278.0 contracts
J JANE STREET GROUP, LLC Institution	- - contracts
B Belvedere Trading LLC Institution	- - contracts

Most Committed Institutions

Institutions with SPXS as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
P PayPay Securities Corp Institution	-	1.68% $46.6K	1.2K shares	Q4 2022 Held for 2y 11m	$2.8M
LAZARI CAPITAL MANAGEMENT, INC. RIA/Wealth	Michael Lazari Karapetian President	0.57% $1.7M	43.7K shares	Q1 2024 Held for 1y 8m	$294.0M
Hamilton Wealth, LLC RIA/Wealth	George Randy Hamilton Managing Partner	0.14% $655.0K	17.2K shares	Q2 2025 Held for 5 months	$474.1M
Kiker Wealth Management, LLC RIA/Wealth	Lawrence Howard Levy Managing Partner	0.12% $227.9K	6.0K shares	Q3 2025 Held for 2 months	$198.0M
V Virtu Financial LLC Institution	-	0.11% $1.8M	47.1K shares	Q3 2025 Held for 2 months	$1.6B
Triton Wealth Management, PLLC RIA/Wealth	Michael Joseph Ryan Managing Partner	0.10% $258.6K	7.4K shares	Q3 2025 Held for 2 months	$262.0M
J Jump Financial, LLC Institution	-	0.07% $4.8M	127.6K shares	Q2 2025 Held for 5 months	$7.4B
T TWO SIGMA SECURITIES, LLC Institution	-	0.05% $362.1K	9.5K shares	Q2 2023 Held for 2y 5m	$675.6M
MARK SHEPTOFF FINANCIAL PLANNING, LLC RIA/Wealth	Richard Houghton Stowe President	0.04% $91.6K	4.2K shares	Q1 2021 Held for 4y 8m	$207.4M
SIGNATUREFD, LLC RIA/Wealth	Heather A Robertson Fortner CEO	0.04% $2.3M	60.1K shares	Q1 2022 Held for 3y 8m	$6.3B

Hedge Fund Spotlight

Discover hedge funds investing in SPXS

Westend Capital Management LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerGeorge Brown Bolton

Portfolio Value: $343.2M
Positions: 252
Last Reported: Q3 2025

Sector Allocation

Position in Direxion Daily S&P 500 Bear 3x Shares

Market Value: $11.9K
Shares Held: 313.0
Portfolio Weight: 0.00%
Owned Since: 2025-Q3

Top Holding	Sector	Market Value	Weight
1 Boeing BA	Aerospace & Defense Industrials	$30.9M	9.01%
2 BABA Alibaba Group Holding Limited BABA	Unknown Unknown	$22.3M	6.50%
3 General Electric GE	Aerospace & Defense Industrials	$20.9M	6.10%

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