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Direxion Daily Financial Bull 3x ETF
FAS

80 hedge funds and large institutions have $106M invested in Direxion Daily Financial Bull 3x ETF in 2025 Q4 according to their latest regulatory filings, with 10 funds opening new positions, 30 increasing their positions, 17 reducing their positions, and 11 closing their positions.

New
Increased
Maintained
Reduced
Closed

169% more call options, than puts

Call options by funds: $356M | Put options by funds: $132M

76% more repeat investments, than reductions

Existing positions increased: 30 | Existing positions reduced: 17

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

9% less first-time investments, than exits

New positions opened: 10 | Existing positions closed: 11

3.22% less ownership

Funds ownership: 7.52% → 4.3% (-3.2%)

4% less funds holding

Funds holding: 83 → 80 (-3)

38% less capital invested

Capital invested by funds: $171M → $106M (-$64.9M)

Holders
80
Holders Change
-3
Holders Change %
-3.61%
% of All Funds
0.97%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.01%
New
10
Increased
30
Reduced
17
Closed
11
Calls
$356M
Puts
$132M
Net Calls
+$224M
Net Calls Change
-$107M

Top Buyers

1
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$12.5M
2
Jane Street
Jane Street
New York
+$5.11M
3
QC
Quadrature Capital
United Kingdom
+$4.02M
4
JF
Jump Financial
Illinois
+$2.59M
5
Wells Fargo
Wells Fargo
California
+$1.39M

Top Sellers

1
Citadel Advisors
Citadel Advisors
Florida
-$33.5M
2
Qube Research & Technologies (QRT)
Qube Research & Technologies (QRT)
United Kingdom
-$27.7M
3
Simplex Trading
Simplex Trading
Illinois
-$14M
4
IMC Chicago
IMC Chicago
Illinois
-$9.62M
5
Morgan Stanley
Morgan Stanley
New York
-$8.3M
Name Holding Trade Value Shares
Change 		Change in
Stake
IC
51
IEQ Capital
California
$254K +$17.4K +105 +7%
KFS
52
Kaizen Financial Strategies
California
$248K – – –
TCM
53
Traynor Capital Management
Pennsylvania
$240K – – –
1M
54
1248 Management
Missouri
$236K +$16.6K +100 +8%
SG
55
StoneX Group
New York
$229K +$225K +1,359 New
GAM
56
Grandview Asset Management
Pennsylvania
$213K – – –
JWCA
57
J.W. Cole Advisors
Florida
$210K +$14.4K +87 +8%
CAM
58
Cresset Asset Management
Illinois
$205K +$14.1K +85 +7%
JWA
59
JFS Wealth Advisors
Pennsylvania
$200K +$4.98K +30 +3%
Northwestern Mutual Wealth Management
60
Northwestern Mutual Wealth Management
Wisconsin
$172K +$103K +621 +154%
PFO
61
Pioneer Family Office
Florida
$145K +$143K +859 New
MFT
62
Moisand Fitzgerald Tamayo
Florida
$135K – – –
BWL
63
Bogart Wealth LLC
Virginia
$135K +$16.6K +100 +14%
S
64
SignatureFD
Georgia
$133K +$1.33K +8 +1%
MCM
65
MAI Capital Management
Ohio
$101K – – –
UBS Group
66
UBS Group
Switzerland
$95.9K -$155K -937 -62%
SVCP
67
Silicon Valley Capital Partners
California
$90K +$6.14K +37 +7%
MAM
68
Morse Asset Management
Connecticut
$65.3K +$10.1K +61 +19%
C
69
Covestor
United Kingdom
$65K -$35.5K -214 -36%
Bank of Montreal
70
Bank of Montreal
Ontario, Canada
$42.1K – – –
Royal Bank of Canada
71
Royal Bank of Canada
Ontario, Canada
$17K – – –
RFP
72
Root Financial Partners
California
$15.4K +$995 +6 +7%
AW
73
Ankerstar Wealth
Texas
$5.39K +$5.31K +32 New
AWM
74
Activest Wealth Management
Florida
$3.37K – – –
TCM
75
Tradewinds Capital Management
Washington
$3.03K – – –
1 2
3
4

FAS Hedge Fund Activity: Q4 2025 in Review

80 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Direxion Daily Financial Bull 3x ETF (FAS) for Q4 2025, worth a combined $106M — down 38% from $171M a quarter earlier.

Sellers outnumbered buyers: 11 funds closed out of FAS and 10 opened new positions — a net loss of 1 holder — while 17 trimmed existing stakes and 30 added.

The largest buyer was Susquehanna International Group, adding an estimated $12.5M. The largest seller was Citadel Advisors, exiting entirely with an estimated $33.5M sold.

  • 80 institutional investors held Direxion Daily Financial Bull 3x ETF (FAS) as of Q4 2025, down from 83 in Q3 2025.
  • Funds reported $106M of Direxion Daily Financial Bull 3x ETF stock for Q4 2025, down 38% quarter-over-quarter.
  • 10 funds opened new Direxion Daily Financial Bull 3x ETF positions in Q4 2025 and 11 closed out, a net change of -1 holder.
  • The largest Direxion Daily Financial Bull 3x ETF buyer in Q4 2025 was Susquehanna International Group, an estimated $12.5M added.
  • The largest Direxion Daily Financial Bull 3x ETF seller in Q4 2025 was Citadel Advisors, an estimated $33.5M sold.

Based on aggregated 13F filings for Q4 2025.