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Direxion Daily Financial Bull 3x ETF
FAS

77 hedge funds and large institutions have $167M invested in Direxion Daily Financial Bull 3x ETF in 2025 Q2 according to their latest regulatory filings, with 16 funds opening new positions, 25 increasing their positions, 16 reducing their positions, and 16 closing their positions.

New
Increased
Maintained
Reduced
Closed

224% more call options, than puts

Call options by funds: $461M | Put options by funds: $142M

56% more repeat investments, than reductions

Existing positions increased: 25 | Existing positions reduced: 16

16% more capital invested

Capital invested by funds: $145M → $167M (+$22.7M)

0.42% more ownership

Funds ownership: 5.86% → 6.28% (+0.42%)

0% more first-time investments, than exits

New positions opened: 16 | Existing positions closed: 16

1% less funds holding

Funds holding: 78 → 77 (-1)

100% less funds holding in top 10

Funds holding in top 10: 1 → 0 (-1)

Holders
77
Holders Change
-1
Holders Change %
-1.28%
% of All Funds
1.01%
Holding in Top 10
–
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-100%
% of All Funds
–
New
16
Increased
25
Reduced
16
Closed
16
Calls
$461M
Puts
$142M
Net Calls
+$318M
Net Calls Change
+$46.6M

Top Buyers

Rank Fund Capital Flow
1
Citadel Advisors
Citadel Advisors
Florida
+$29M
2
GS
GTS Securities
New York
+$10.8M
3
Morgan Stanley
Morgan Stanley
New York
+$7.09M
4
EWM
Elevatus Welath Management
New York
+$4.31M
5
IWC
Integrated Wealth Concepts
Massachusetts
+$3.85M

Top Sellers

Rank Fund Capital Flow
1
QC
Quadrature Capital
United Kingdom
-$25.7M
2
TCM
Thames Capital Management
New Jersey
-$16.1M
3
Jane Street
Jane Street
New York
-$9.93M
4
Wolverine Trading
Wolverine Trading
Illinois
-$5.46M
5
VPW
Variant Private Wealth
Virginia
-$2.2M
Name Holding Trade Value Shares
Change 		Change in
Stake
1M
51
1248 Management
Missouri
$220K +$189K +1,300 New
SG
52
StoneX Group
New York
$215K +$186K +1,274 New
GAM
53
Grandview Asset Management
Pennsylvania
$214K – – –
CC
54
Copperleaf Capital
North Carolina
$213K – – –
JWA
55
JFS Wealth Advisors
Pennsylvania
$195K – – –
MCM
56
MAI Capital Management
Ohio
$194K +$168K +1,150 New
MYIA
57
Mount Yale Investment Advisors
Colorado
$155K +$134K +918 New
MFT
58
Moisand Fitzgerald Tamayo
Florida
$135K – – –
S
59
SignatureFD
Georgia
$132K -$728 -5 -0.6%
C
60
Covestor
United Kingdom
$131K – – –
BWL
61
Bogart Wealth LLC
Virginia
$84.3K +$72.8K +500 New
SVCP
62
Silicon Valley Capital Partners
California
$83.5K +$146 +1 +0.2%
Bank of Montreal
63
Bank of Montreal
Ontario, Canada
$76.5K – – –
Northwestern Mutual Wealth Management
64
Northwestern Mutual Wealth Management
Wisconsin
$67.6K +$437 +3 +0.8%
Wells Fargo
65
Wells Fargo
California
$43.6K -$75.5K -518 -67%
MAM
66
Morse Asset Management
Connecticut
$41.8K +$5.83K +40 +19%
BCMLT
67
Beacon Capital Management LLC (Tennessee)
Tennessee
$31.7K -$291 -2 -1%
AA
68
Addison Advisors
Vermont
$28.7K +$24.8K +170 New
Royal Bank of Canada
69
Royal Bank of Canada
Ontario, Canada
$17K – – –
MA
70
MCF Advisors
Kentucky
$6.76K -$1.46K -10 -20%
TSMHT
71
Thurston Springer Miller Herd & Titak
Indiana
$5.72K -$411K -2,823 -99%
AWM
72
Activest Wealth Management
Florida
$3.37K – – –
SWIG
73
Strategic Wealth Investment Group
Kentucky
$3.37K +$2.91K +20 New
TCM
74
Tradewinds Capital Management
Washington
$3.04K +$2.62K +18 New
NSIM
75
North Star Investment Management
Illinois
$2.02K – – –
1 2
3
4

FAS Hedge Fund Activity: Q2 2025 in Review

77 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in Direxion Daily Financial Bull 3x ETF (FAS) for Q2 2025, worth a combined $167M — up 16% from $145M a quarter earlier.

Fund positioning in FAS was balanced in Q2 2025: 16 funds opened new positions, 16 closed out, 25 added to existing stakes and 16 trimmed.

The largest buyer was Citadel Advisors, adding an estimated $29M. The largest seller was Quadrature Capital, exiting entirely with an estimated $25.7M sold.

  • 77 institutional investors held Direxion Daily Financial Bull 3x ETF (FAS) as of Q2 2025, down from 78 in Q1 2025.
  • Funds reported $167M of Direxion Daily Financial Bull 3x ETF stock for Q2 2025, up 16% quarter-over-quarter.
  • 16 funds opened new Direxion Daily Financial Bull 3x ETF positions in Q2 2025 and 16 closed out, a net change of 0 holders.
  • The largest Direxion Daily Financial Bull 3x ETF buyer in Q2 2025 was Citadel Advisors, an estimated $29M added.
  • The largest Direxion Daily Financial Bull 3x ETF seller in Q2 2025 was Quadrature Capital, an estimated $25.7M sold.

Based on aggregated 13F filings for Q2 2025.