MAX S&P 500 4x Leveraged ETN
SPYU
13 hedge funds and large institutions have $2.85M invested in MAX S&P 500 4x Leveraged ETN in 2025 Q1 according to their latest regulatory filings, with 7 funds opening new positions, 2 increasing their positions, 3 reducing their positions, and 4 closing their positions.
75% more first-time investments, than exits
New positions opened: 7 | Existing positions closed: 4
8% more funds holding
Funds holding: 12 → 13 (+1)
9.23% less ownership
Funds ownership: 11.76% → 2.53% (-9.2%)
33% less repeat investments, than reductions
Existing positions increased: 2 | Existing positions reduced: 3
85% less capital invested
Capital invested by funds: $19.2M → $2.85M (-$16.4M)
100% less funds holding in top 10
Funds holding in top 10: 1 → 0 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
MFA
Millington Financial Advisors
Naperville,
Illinois
|
+$1.32M |
| 2 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$665K |
| 3 |
Goldman Sachs
New York
|
+$321K |
| 4 |
XT
XTX Topco
George Town,
Cayman Islands
|
+$319K |
| 5 |
S
SignatureFD
Atlanta,
Georgia
|
+$226K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
IMC Chicago
Chicago,
Illinois
|
-$12.1M |
| 2 |
Jane Street
New York
|
-$1.84M |
| 3 |
Citadel Advisors
Miami,
Florida
|
-$525K |
| 4 |
BW
BXM Wealth
Englewood,
Colorado
|
-$518K |
| 5 |
Renaissance Technologies
New York
|
-$318K |
SPYU Hedge Fund Activity: Q1 2025 in Review
13 of the 7,476 institutional investors tracked by Wall St. Rank reported a position in MAX S&P 500 4x Leveraged ETN (SPYU) for Q1 2025, worth a combined $2.85M — down 85% from $19.2M a quarter earlier.
Buyers outnumbered sellers: 7 funds opened new SPYU positions and 4 closed out — a net gain of 3 holders — while 2 added to existing stakes and 3 trimmed.
The largest buyer was Millington Financial Advisors, opening a new position worth an estimated $1.32M. The largest seller was IMC Chicago, exiting entirely with an estimated $12.1M sold.
- 13 institutional investors held MAX S&P 500 4x Leveraged ETN (SPYU) as of Q1 2025, up from 12 in Q4 2024.
- Funds reported $2.85M of MAX S&P 500 4x Leveraged ETN stock for Q1 2025, down 85% quarter-over-quarter.
- 7 funds opened new MAX S&P 500 4x Leveraged ETN positions in Q1 2025 and 4 closed out, a net change of +3 holders.
- The largest MAX S&P 500 4x Leveraged ETN buyer in Q1 2025 was Millington Financial Advisors, an estimated $1.32M added.
- The largest MAX S&P 500 4x Leveraged ETN seller in Q1 2025 was IMC Chicago, an estimated $12.1M sold.
Based on aggregated 13F filings for Q1 2025.