MAX S&P 500 4x Leveraged ETN
SPYU
12 hedge funds and large institutions have $5.28M invested in MAX S&P 500 4x Leveraged ETN in 2025 Q4 according to their latest regulatory filings, with 2 funds opening new positions, 2 increasing their positions, 4 reducing their positions, and 2 closing their positions.
4% more capital invested
Capital invested by funds: $5.07M → $5.28M (+$211K)
0% more funds holding
Funds holding: 12 → 12 (0)
0% more first-time investments, than exits
New positions opened: 2 | Existing positions closed: 2
50% less repeat investments, than reductions
Existing positions increased: 2 | Existing positions reduced: 4
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Citadel Advisors
Miami,
Florida
|
+$424K |
| 2 |
MCM
Mainstay Capital Management
Grand Blanc,
Michigan
|
+$259K |
| 3 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$74.1K |
| 4 |
UBS Group
Zurich,
Switzerland
|
+$19.3K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Goldman Sachs
New York
|
-$328K |
| 2 |
FTUS
Flow Traders U.S.
New York
|
-$220K |
| 3 |
MFA
Millington Financial Advisors
Naperville,
Illinois
|
-$119K |
| 4 |
TRCT
Tower Research Capital (TRC)
New York
|
-$87.3K |
| 5 |
TFA
Toth Financial Advisory
Leesburg,
Virginia
|
-$1.65K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
MFA
1
Millington Financial Advisors
Naperville,
Illinois
| $2.74M | -$119K | -4,344 | -4% |
|
|
2
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
| $1.14M | +$74.1K | +2,700 | +7% |
|
|
3
Citadel Advisors
Miami,
Florida
| $424K | +$424K | +15,464 | New |
|
|
4
Goldman Sachs
New York
| $415K | -$328K | -11,956 | -44% |
|
|
MCM
5
Mainstay Capital Management
Grand Blanc,
Michigan
| $259K | +$259K | +9,454 | New |
|
|
TRCT
6
Tower Research Capital (TRC)
New York
| $224K | -$87.3K | -3,182 | -28% |
|
7
Fifth Third Bancorp
Cincinnati,
Ohio
| $24.6K | – | – | – |
|
|
8
UBS Group
Zurich,
Switzerland
| $21.7K | +$19.3K | +704 | +800% |
|
|
HCM
9
Hollencrest Capital Management
Newport Beach,
California
| $12.2K | – | – | – |
|
10
Osaic Holdings
Scottsdale,
Arizona
| $5.81K | – | – | – |
|
|
TFA
11
Toth Financial Advisory
Leesburg,
Virginia
| $4.39K | -$1.65K | -60 | -27% |
|
12
Royal Bank of Canada
Toronto,
Ontario, Canada
| $1K | – | – | – |
|
|
FTUS
13
Flow Traders U.S.
New York
| – | -$220K | -8,092 | Closed |
|
14
BNP Paribas Financial Markets
Paris,
France
| – | -$163 | -6 | Closed |
|
SPYU Hedge Fund Activity: Q4 2025 in Review
12 of the 8,224 institutional investors tracked by Wall St. Rank reported a position in MAX S&P 500 4x Leveraged ETN (SPYU) for Q4 2025, worth a combined $5.28M — up 4.2% from $5.07M a quarter earlier.
Fund positioning in SPYU was balanced in Q4 2025: 2 funds opened new positions, 2 closed out, 2 added to existing stakes and 4 trimmed.
The largest buyer was Citadel Advisors, opening a new position worth an estimated $424K. The largest seller was Goldman Sachs, cutting an estimated $328K.
- 12 institutional investors held MAX S&P 500 4x Leveraged ETN (SPYU) as of Q4 2025, unchanged from Q3 2025.
- Funds reported $5.28M of MAX S&P 500 4x Leveraged ETN stock for Q4 2025, up 4.2% quarter-over-quarter.
- 2 funds opened new MAX S&P 500 4x Leveraged ETN positions in Q4 2025 and 2 closed out, a net change of 0 holders.
- The largest MAX S&P 500 4x Leveraged ETN buyer in Q4 2025 was Citadel Advisors, an estimated $424K added.
- The largest MAX S&P 500 4x Leveraged ETN seller in Q4 2025 was Goldman Sachs, an estimated $328K sold.
Based on aggregated 13F filings for Q4 2025.