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MSTX

Defiance Daily Target 2x Long MSTR ETF
MSTX

41 hedge funds and large institutions have $105M invested in Defiance Daily Target 2x Long MSTR ETF in 2025 Q2 according to their latest regulatory filings, with 13 funds opening new positions, 9 increasing their positions, 11 reducing their positions, and 12 closing their positions.

New
Increased
Maintained
Reduced
Closed

107% more capital invested

Capital invested by funds: $50.8M → $105M (+$54.4M)

37% more call options, than puts

Call options by funds: $180M | Put options by funds: $131M

3% more funds holding

Funds holding: 40 → 41 (+1)

8% more first-time investments, than exits

New positions opened: 13 | Existing positions closed: 12

0.36% more ownership

Funds ownership: 0.49% → 0.85% (+0.36%)

18% less repeat investments, than reductions

Existing positions increased: 9 | Existing positions reduced: 11

Holders
41
Holders Change
+1
Holders Change %
+2.5%
% of All Funds
0.54%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
13
Increased
9
Reduced
11
Closed
12
Calls
$180M
Puts
$131M
Net Calls
+$48.6M
Net Calls Change
+$36.5M

Top Buyers

Rank Fund Capital Flow
1
UBS Group
UBS Group
Switzerland
+$16.7M
2
Goldman Sachs
Goldman Sachs
New York
+$14.2M
3
BNP Paribas Financial Markets
BNP Paribas Financial Markets
France
+$11.2M
4
Citadel Advisors
Citadel Advisors
Florida
+$3.33M
5
VC
Vestor Capital
Illinois
+$2.22M

Top Sellers

Rank Fund Capital Flow
1
Jane Street
Jane Street
New York
-$10.6M
2
Susquehanna International Group
Susquehanna International Group
Pennsylvania
-$7.97M
3
Simplex Trading
Simplex Trading
Illinois
-$1.55M
4
SRL
Scientech Research LLC
New Jersey
-$1.35M
5
Optiver Holding
Optiver Holding
Netherlands
-$1.14M
Name Holding Trade Value Shares
Change 		Change in
Stake
UBS Group
1
UBS Group
Switzerland
$43.5M +$16.7M +47,026 +77%
Goldman Sachs
2
Goldman Sachs
New York
$16.1M +$14.2M +40,000 New
BNP Paribas Financial Markets
3
BNP Paribas Financial Markets
France
$12.7M +$11.2M +31,530 New
Citigroup
4
Citigroup
New York
$7.82M – – –
Citadel Advisors
5
Citadel Advisors
Florida
$4.63M +$3.33M +9,377 +450%
VC
6
Vestor Capital
Illinois
$3.31M +$2.22M +6,258 +1,768%
Optiver Holding
7
Optiver Holding
Netherlands
$2.14M -$1.14M -3,206 -38%
AFAS
8
Acorn Financial Advisory Services
Virginia
$2.04M -$994K -2,798 -36%
Renaissance Technologies
9
Renaissance Technologies
New York
$2.01M +$1.77M +4,990 New
Mariner
10
Mariner
Kansas
$1.54M +$31.3K +88 +2%
HIP
11
HUB Investment Partners
Texas
$1.42M -$355K -1,000 -22%
Susquehanna International Group
12
Susquehanna International Group
Pennsylvania
$1.36M -$7.97M -22,436 -87%
SWP
13
Sagespring Wealth Partners
Tennessee
$809K +$2.13K +6 +0.3%
CC
14
Copperleaf Capital
North Carolina
$706K – – –
SRL
15
Scientech Research LLC
New Jersey
$681K -$1.35M -3,808 -69%
DWM
16
Diversify Wealth Management
Utah
$525K – – –
CCP
17
Clarity Capital Partners
California
$519K +$160K +449 +54%
TA
18
Tactive Advisors
Florida
$468K +$412K +1,159 New
Morgan Stanley
19
Morgan Stanley
New York
$442K -$1.11M -3,118 -74%
1M
20
1248 Management
Missouri
$369K +$4.62K +13 +1%
SIAP
21
Sterling Investment Advisors (Pennsylvania)
Pennsylvania
$315K +$278K +782 New
TPWM
22
Twelve Points Wealth Management
Massachusetts
$315K +$277K +781 New
Jane Street
23
Jane Street
New York
$272K -$10.6M -29,919 -98%
TIAM2
24
Tru Independence Asset Management 2
Oregon
$242K +$213K +600 New
HighTower Advisors
25
HighTower Advisors
Illinois
$226K +$199K +561 New
1
2 3

MSTX Hedge Fund Activity: Q2 2025 in Review

41 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in Defiance Daily Target 2x Long MSTR ETF (MSTX) for Q2 2025, worth a combined $105M — up 107% from $50.8M a quarter earlier.

Buyers outnumbered sellers: 13 funds opened new MSTX positions and 12 closed out — a net gain of 1 holder — while 9 added to existing stakes and 11 trimmed.

The largest buyer was UBS Group, adding an estimated $16.7M. The largest seller was Jane Street, cutting an estimated $10.6M.

  • 41 institutional investors held Defiance Daily Target 2x Long MSTR ETF (MSTX) as of Q2 2025, up from 40 in Q1 2025.
  • Funds reported $105M of Defiance Daily Target 2x Long MSTR ETF stock for Q2 2025, up 107% quarter-over-quarter.
  • 13 funds opened new Defiance Daily Target 2x Long MSTR ETF positions in Q2 2025 and 12 closed out, a net change of +1 holder.
  • The largest Defiance Daily Target 2x Long MSTR ETF buyer in Q2 2025 was UBS Group, an estimated $16.7M added.
  • The largest Defiance Daily Target 2x Long MSTR ETF seller in Q2 2025 was Jane Street, an estimated $10.6M sold.

Based on aggregated 13F filings for Q2 2025.