| Direxion Auspice Broad Commodity Strategy ETF (Consolidated) |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 97.8% |
||||||||
| Money Market Funds - 97.8% |
||||||||
| 199,980,413 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 199,980,413 | |||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $199,980,413) | $ | 199,980,413 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $199,980,413) - 97.8% | $ | 199,980,413 | ||||||
| Other Assets in Excess of Liabilities - 2.2%(b) | 4,410,647 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 204,391,060 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | $4,447,392 of cash is pledged as collateral for futures contracts. |
| Long Futures Contracts (Unaudited) |
| July 31, 2026 |
| Reference Entity | Expiration Date | Number of Contracts | Notional Amount | Variation Margin Payable, net |
Unrealized Appreciation |
|||||||||||||
|
|
Copper | 12/29/2026 | 80 | $ 13,120,000 | $ | (17,000 | ) | $ | 50,125 | |||||||||
| Cotton No. 2 | 3/8/2027 | 402 | 16,755,360 | 223,110 | 1,324,113 | |||||||||||||
| Gasoline RBOB | 9/30/2026 | 53 | 6,307,816 | (11,130 | ) | 658,189 | ||||||||||||
| NY Harbor ULSD | 12/29/2016 | 28 | 4,268,880 | 25,284 | 223,612 | |||||||||||||
| Soybean | 11/13/2026 | 491 | 29,153,125 | (30,688 | ) | 1,255,346 | ||||||||||||
| Wheat | 3/12/2027 | 620 | 20,901,750 | (720,750 | ) | 1,116,738 | ||||||||||||
| WTI Crude | 12/31/2016 | 49 | 3,745,560 | 15,680 | 34,016 | |||||||||||||
| $ 94,252,491 | $ | (515,494 | ) | $ | 4,662,139 | |||||||||||||
All futures contracts held by Direxion BCS Fund Ltd.
| Direxion GOOGL Defined Income Boost ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 10.2% |
||||||||
| Web Search Portals, Libraries, Archives, and Other Information Services - 10.2% |
||||||||
| 600 | Alphabet Inc. Class A | $ | 213,678 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $200,231) | $ | 213,678 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 86.1% |
||||||||
| 319,794 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 319,794 | |||||
| 1,480,000 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 1,480,000 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $1,799,794) | $ | 1,799,794 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $2,000,025) - 96.3% (b) | $ | 2,013,472 | ||||||
| Other Assets in Excess of Liabilities - 3.7% | 76,095 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 2,089,567 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
(a) Represents annualized seven-day yield at July 31, 2026.
(b) All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $1,480,000.
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| Total return of common shares of Alphabet Inc. Class A | SOFR + 0.9000% | Goldman Sachs | 12/10/2026 | 5,081 | $ | 1,695,581 | $ | 113,236 | ||||||||||||
| Total return of Cboe GOOGL Defined Income Index | SOFR + 0.0000% | Goldman Sachs | 12/10/2026 | 25,608 | 2,003,221 | (44,465) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 3,698,802 | $ | 68,771 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion HCM Tactical Enhanced US ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 79.5% |
||||||||
| Accommodation - 0.3% |
||||||||
| 2,909 | Airbnb, Inc. Class A (a) | $ | 440,772 | |||||
| 1,582 | Hilton Worldwide Holdings, Inc. | 507,015 | ||||||
| 4,430 | Host Hotels & Resorts, Inc. | 111,326 | ||||||
| 2,071 | Las Vegas Sands Corp. | 101,251 | ||||||
| 1,521 | Marriott International, Inc. Class C | 567,074 | ||||||
| 1,338 | MGM Resorts International (a) | 59,635 | ||||||
| 584 | Wynn Resorts Ltd. | 57,997 | ||||||
|
|
|
| ||||||
| 1,845,070 | ||||||||
|
|
|
| ||||||
| Administrative and Support Services - 1.9% |
||||||||
| 597 | Allegion PLC ADR (Ireland) | 93,968 | ||||||
| 3,214 | Amcor PLC ADR (United Kingdom) | 144,244 | ||||||
| 627 | Ameriprise Financial, Inc. | 342,242 | ||||||
| 2,780 | Automatic Data Processing, Inc. | 740,759 | ||||||
| 5,390 | Booking Holdings, Inc. | 1,039,731 | ||||||
| 809 | Broadridge Financial Solutions, Inc. | 124,546 | ||||||
| 453 | Corpay, Inc. (a) | 173,096 | ||||||
| 834 | Equifax, Inc. | 143,965 | ||||||
| 255 | FactSet Research System, Inc. | 67,116 | ||||||
| 465 | Gartner, Inc. (a) | 70,224 | ||||||
| 2,068 | Iron Mountain, Inc. | 252,958 | ||||||
| 1,101 | Live Nation Entertainment, Inc. (a) | 191,717 | ||||||
| 1,045 | Moody’s Corp. | 499,907 | ||||||
| 2,193 | Paramount Skydance Corp. | 17,456 | ||||||
| 1,454 | Qnity Electronics, Inc. | 190,736 | ||||||
| 2,040 | Rollins, Inc. | 77,459 | ||||||
| 1,735 | Royal Caribbean Cruises Ltd. ADR (Liberia) | 552,250 | ||||||
| 14,170 | Uber Technologies, Inc. (a) | 997,001 | ||||||
| 11,547 | Visa, Inc. Class A | 4,227,703 | ||||||
| 2,571 | Waste Management, Inc. | 582,460 | ||||||
|
|
|
| ||||||
| 10,529,538 | ||||||||
|
|
|
| ||||||
| Air Transportation - 0.1% |
||||||||
| 4,547 | Delta Air Lines, Inc. | 397,590 | ||||||
| 3,400 | Southwest Airlines Co. | 152,898 | ||||||
| 2,258 | United Continental Holdings, Inc. (a) | 273,963 | ||||||
|
|
|
| ||||||
| 824,451 | ||||||||
|
|
|
| ||||||
| Ambulatory Health Care Services - 0.1% |
||||||||
| 225 | DaVita, Inc. (a) | 54,020 | ||||||
| 571 | Labcorp Holdings, Inc. | 176,553 | ||||||
| 772 | Quest Diagnostics, Inc. | 179,884 | ||||||
| 8,100 | Viatris, Inc. | 142,236 | ||||||
|
|
|
| ||||||
| 552,693 | ||||||||
|
|
|
| ||||||
| Amusement, Gambling, and Recreation Industries - 0.2% |
||||||||
| 12,081 | The Walt Disney Co. | 1,162,071 | ||||||
|
|
|
| ||||||
| Apparel Manufacturing - 0.1% |
||||||||
| 2,367 | Cintas Corp. | 484,359 | ||||||
| 986 | Deckers Outdoor Corp. (a) | 95,524 | ||||||
| 273 | Ralph Lauren Corp. | 103,833 | ||||||
|
|
|
| ||||||
| 683,716 | ||||||||
|
|
|
| ||||||
| Beverage and Tobacco Product Manufacturing - 0.9% |
||||||||
| 11,618 | Altria Group, Inc. | 793,858 | ||||||
| 968 | Constellation Brands, Inc. Class A | 126,063 | ||||||
| 9,467 | Keurig Dr Pepper, Inc. | 294,613 | ||||||
| 1,116 | Molson Coors Brewing Co. Class B | 46,381 | ||||||
| 4,965 | Monster Beverage Corp. (a) | 478,527 | ||||||
| 9,510 | PepsiCo, Inc. | 1,327,215 | ||||||
| 10,846 | Philip Morris International, Inc. | 2,069,634 | ||||||
|
|
|
| ||||||
| 5,136,291 | ||||||||
|
|
|
| ||||||
| Broadcasting and Content Providers - 0.2% |
||||||||
| 582 | Charter Communications, Inc. (a) | 84,378 | ||||||
| 24,795 | Comcast Corp. Class A | 594,088 | ||||||
| 1,396 | FOX Corp. Class A | 81,289 | ||||||
| 966 | FOX Corp. Class B | 50,174 | ||||||
| 436 | TKO Group Holdings, Inc. | 79,269 | ||||||
| 17,248 | Warner Bros Discovery, Inc. (a) | 453,623 | ||||||
|
|
|
| ||||||
| 1,342,821 | ||||||||
|
|
|
| ||||||
| Building Material and Garden Equipment and Supplies Dealers - 0.6% |
||||||||
| 3,896 | Lowe’s Companies, Inc. | 809,628 | ||||||
| 6,935 | The Home Depot, Inc. | 2,302,142 | ||||||
| 3,649 | Tractor Supply Co. | 112,280 | ||||||
|
|
|
| ||||||
| 3,224,050 | ||||||||
|
|
|
| ||||||
| Chemical Manufacturing - 4.6% |
||||||||
| 12,296 | AbbVie, Inc. | 3,085,558 | ||||||
| 1,547 | Air Products & Chemicals, Inc. | 456,195 | ||||||
| 826 | Albemarle Corp. | 97,171 | ||||||
| 3,756 | Amgen, Inc. | 1,446,661 | ||||||
| 1,026 | Biogen, Inc. (a) | 208,227 | ||||||
| 1,089 | Bio-Techne Corp. | 78,506 | ||||||
| 14,207 | Bristol-Myers Squibb Co. | 927,859 | ||||||
| 1,068 | CF Industries Holdings, Inc. | 133,703 | ||||||
| 1,650 | Church & Dwight Co., Inc. | 163,036 | ||||||
| 842 | Clorox Co. | 80,436 | ||||||
| 5,568 | Colgate-Palmolive Co. | 508,358 | ||||||
| 948 | DuPont de Nemours, Inc. | 129,876 | ||||||
| 1,763 | Ecolab, Inc. | 489,462 | ||||||
| 5,503 | Eli Lilly & Co. | 6,322,066 | ||||||
| 8,636 | Gilead Sciences, Inc. | 1,124,494 | ||||||
| 1,167 | Incyte Corp. (a) | 139,480 | ||||||
| 3,936 | IntercontinentalExchange, Inc. | 600,161 | ||||||
| 1,777 | International Flavors & Fragrances, Inc. | 140,774 | ||||||
| 13,362 | Kenvue, Inc. | 257,085 | ||||||
| 2,309 | Kimberly-Clark Corp. | 252,397 | ||||||
| 3,214 | Linde PLC ADR (Ireland) | 1,537,513 | ||||||
| 1,798 | LyondellBasell Industries N.V. Class A ADR (Netherlands) | 111,620 | ||||||
| 17,185 | Merck & Co., Inc. | 2,237,487 | ||||||
| 2,212 | Mosaic Co. | 48,929 | ||||||
| 39,662 | Pfizer, Inc. | 991,947 | ||||||
| 1,549 | PPG Industries, Inc. | 171,195 | ||||||
| 16,204 | Procter & Gamble Co. | 2,341,316 | ||||||
| 697 | Regeneron Pharmaceuticals, Inc. | 531,553 | ||||||
| 1,767 | Vertex Pharmaceuticals, Inc. (a) | 843,036 | ||||||
| 2,917 | Zoetis, Inc. | 225,455 | ||||||
|
|
|
| ||||||
| 25,681,556 | ||||||||
|
|
|
| ||||||
| Clothing, Clothing Accessories, Shoe, and Jewelry Retailers - 0.3% |
||||||||
| 731 | Lululemon Athletica, Inc. (a) | 86,894 | ||||||
| 2,241 | Ross Stores, Inc. | 562,648 | ||||||
| 7,695 | TJX Companies, Inc. | 1,210,731 | ||||||
|
|
|
| ||||||
| 1,860,273 | ||||||||
|
|
|
| ||||||
| Computer and Electronic Product Manufacturing - 27.9% |
||||||||
| 11,348 | Advanced Micro Devices, Inc. (a) | 5,403,350 | ||||||
| 1,965 | Agilent Technologies, Inc. | 271,897 | ||||||
| 40,804 | Alphabet, Inc. | 14,531,529 | ||||||
| 32,887 | Alphabet, Inc. Class C | 11,729,149 | ||||||
| 1,593 | AMETEK, Inc. | 385,044 | ||||||
| 8,562 | Amphenol Corp. Class A | 1,375,913 | ||||||
| 3,398 | Analog Devices, Inc. | 1,248,459 | ||||||
| 102,207 | Apple, Inc. | 31,572,764 | ||||||
| 5,520 | Applied Materials, Inc. | 2,802,338 | ||||||
| 7,185 | Arista Networks, Inc. (a) | 1,295,815 | ||||||
| 32,944 | Broadcom, Inc. | 12,824,440 | ||||||
| 27,486 | Cisco Systems, Inc. | 3,188,101 | ||||||
| 4,381 | Danaher Corp. | 854,207 | ||||||
| 2,014 | Dell Technologies, Inc. | 816,415 | ||||||
| 946 | EchoStar Corp. (a) | 79,549 | ||||||
| 748 | First Solar, Inc. (a) | 157,851 | ||||||
| 2,558 | Flex Ltd. (Singapore)(a) | 290,973 | ||||||
| 4,333 | Fortinet, Inc. (a) | 701,729 | ||||||
| 2,120 | Fortive Corp. | 125,525 | ||||||
| 3,166 | GE HealthCare Technologies, Inc. | 215,351 | ||||||
| 6,368 | HP, Inc. | 173,655 | ||||||
| 32,872 | Intel Corp. (a) | 2,965,054 | ||||||
| 6,539 | International Business Machines Corp. | 1,462,447 | ||||||
| 736 | Jabil Circuit, Inc. | 231,877 | ||||||
| 1,194 | Keysight Technologies, Inc. (a) | 380,982 | ||||||
| 1,297 | L3Harris Technologies, Inc. | 359,347 | ||||||
| 8,699 | Lam Research Corp. | 2,548,981 | ||||||
| 542 | Lumentum Holdings, Inc. (a) | 386,956 | ||||||
| 6,093 | Marvell Technology, Inc. | 1,142,803 | ||||||
| 3,765 | Microchip Technology, Inc. | 279,702 | ||||||
| 7,846 | Micron Technology, Inc. | 6,457,493 | ||||||
| 340 | Monolithic Power Systems, Inc. | 484,850 | ||||||
| 1,155 | Motorola Solutions, Inc. | 503,291 | ||||||
| 1,378 | NetApp, Inc. | 245,973 | ||||||
| 928 | Northrop Grumman Corp. | 503,422 | ||||||
| 168,537 | NVIDIA Corp. | 33,833,803 | ||||||
| 1,758 | NXP Semiconductors NV ADR (Netherlands) | 402,863 | ||||||
| 2,725 | ON Semiconductor Corp. (a) | 222,387 | ||||||
| 2,668 | Otis Worldwide Corp. | 191,963 | ||||||
| 5,643 | Palo Alto Networks, Inc. (a) | 1,872,517 | ||||||
| 7,332 | Qualcomm, Inc. | 1,082,277 | ||||||
| 779 | Revvity, Inc. | 87,653 | ||||||
| 704 | Roper Technologies, Inc. | 275,947 | ||||||
| 9,371 | RTX Corp. | 2,016,827 | ||||||
| 1,029 | Sandisk Corp. (a) | 1,250,060 | ||||||
| 1,558 | Seagate Technology Holdings PLC ADR (Ireland) | 1,333,851 | ||||||
| 1,044 | Skyworks Solutions, Inc. | 65,020 | ||||||
| 3,912 | Super Micro Computer, Inc. (a) | 111,101 | ||||||
| 321 | Teledyne Technologies, Inc. (a) | 210,438 | ||||||
| 1,089 | Teradyne, Inc. | 400,414 | ||||||
| 6,338 | Texas Instruments, Inc. | 1,747,640 | ||||||
| 2,585 | Thermo Fisher Scientific, Inc. | 1,484,566 | ||||||
| 1,621 | Trimble, Inc. (a) | 91,716 | ||||||
| 1,708 | Veralto Corp. | 160,842 | ||||||
| 2,671 | Vertiv Holdings Co. | 645,234 | ||||||
| 684 | Waters Corp. (a) | 258,080 | ||||||
| 2,400 | Western Digital Corp. | 1,307,616 | ||||||
| 329 | Zebra Technologies Corp. Class A (a) | 96,667 | ||||||
|
|
|
| ||||||
| 157,146,714 | ||||||||
|
|
|
| ||||||
| Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services - 0.1% |
||||||||
| 1,367 | Coherent Corp. (a) | 359,371 | ||||||
| 3,710 | Fiserv, Inc. (a) | 200,117 | ||||||
|
|
|
| ||||||
| 559,488 | ||||||||
|
|
|
| ||||||
| Construction of Buildings - 0.1% |
||||||||
| 1,836 | D.R. Horton, Inc. | 262,658 | ||||||
| 1,497 | Lennar Corp. Class A | 123,278 | ||||||
| 20 | NVR, Inc. (a) | 122,941 | ||||||
| 1,328 | PulteGroup, Inc. | 167,952 | ||||||
|
|
|
| ||||||
| 676,829 | ||||||||
|
|
|
| ||||||
| Couriers and Messengers - 0.2% |
||||||||
| 1,525 | FedEx Corp. | 468,785 | ||||||
| 5,198 | United Parcel Service, Inc. Class B | 541,736 | ||||||
|
|
|
| ||||||
| 1,010,521 | ||||||||
|
|
|
| ||||||
| Credit Intermediation and Related Activities - 4.2% |
||||||||
| 3,703 | American Express Co. | 1,245,134 | ||||||
| 45,429 | Bank of America Corp. | 2,814,327 | ||||||
| 4,776 | Bank of New York Mellon Corp. | 746,632 | ||||||
| 4,329 | Capital One Financial Corp. | 904,804 | ||||||
| 11,871 | Citigroup, Inc. | 1,572,314 | ||||||
| 2,945 | Citizens Financial Group, Inc. | 211,009 | ||||||
| 1,545 | Coinbase Global, Inc. (a) | 225,972 | ||||||
| 3,602 | Fidelity National Information Services, Inc. | 161,262 | ||||||
| 6,309 | Fifth Third Bancorp | 356,459 | ||||||
| 1,616 | Global Payments, Inc. | 135,873 | ||||||
| 14,108 | Huntington Bancshares, Inc. | 240,400 | ||||||
| 18,648 | JPMorgan Chase & Co. | 6,560,180 | ||||||
| 6,411 | KeyCorp | 144,825 | ||||||
| 1,018 | M&T Bank Corp. | 250,723 | ||||||
| 5,613 | MasterCard, Inc. Class A | 3,216,810 | ||||||
| 1,288 | Northern Trust Corp. | 234,661 | ||||||
| 2,795 | PNC Financial Services Group, Inc. | 698,387 | ||||||
| 5,937 | Regions Financial Corp. | 183,750 | ||||||
| 1,931 | State Street Corp. | 355,613 | ||||||
| 2,341 | Synchrony Financial | 177,424 | ||||||
| 8,666 | Truist Financial Corp. | 449,245 | ||||||
| 10,803 | U.S. Bancorp | 680,697 | ||||||
| 21,294 | Wells Fargo & Co. | 1,840,866 | ||||||
|
|
|
| ||||||
| 23,407,367 | ||||||||
|
|
|
| ||||||
| Electrical Equipment, Appliance, and Component Manufacturing - 0.2% |
||||||||
| 782 | A.O. Smith Corp. | 47,022 | ||||||
| 560 | Axon Enterprise, Inc. (a) | 295,546 | ||||||
| 3,897 | Emerson Electric Co. | 583,848 | ||||||
| 408 | Generac Holdings, Inc. (a) | 80,421 | ||||||
| 777 | Rockwell Automation, Inc. | 373,022 | ||||||
|
|
|
| ||||||
| 1,379,859 | ||||||||
|
|
|
| ||||||
| Fabricated Metal Product Manufacturing - 0.2% |
||||||||
| 1,853 | Ball Corp. | 120,260 | ||||||
| 1,583 | Nucor Corp. | 407,290 | ||||||
| 1,123 | Pentair PLC ADR (Ireland) | 73,489 | ||||||
| 359 | Snap-on, Inc. | 147,337 | ||||||
| 1,082 | Stanley Black & Decker, Inc. | 102,336 | ||||||
|
|
|
| ||||||
| 850,712 | ||||||||
|
|
|
| ||||||
| Food and Beverage Retailers - 0.0%(†) |
||||||||
| 3,945 | Kroger Co. | 227,784 | ||||||
|
|
|
| ||||||
| Food Manufacturing - 0.7% |
||||||||
| 3,353 | Archer-Daniels-Midland Co. | 265,792 | ||||||
| 26,948 | Coca-Cola Co. | 2,360,375 | ||||||
| 3,713 | General Mills, Inc. | 132,740 | ||||||
| 2,031 | Hormel Foods Corp. | 50,795 | ||||||
| 1,768 | McCormick & Co, Inc. | 89,991 | ||||||
| 8,932 | Mondelez International, Inc. | 556,553 | ||||||
| 1,031 | The Hershey Co. | 180,477 | ||||||
| 744 | The J.M. Smucker Co. | 88,729 | ||||||
| 5,940 | The Kraft Heinz Co. | 153,549 | ||||||
| 1,961 | Tyson Foods, Inc. Class A | 113,660 | ||||||
|
|
|
| ||||||
| 3,992,661 | ||||||||
|
|
|
| ||||||
| Food Services and Drinking Places - 0.7% |
||||||||
| 259 | Casey’s General Stores, Inc. | 225,589 | ||||||
| 8,925 | Chipotle Mexican Grill, Inc. (a) | 332,189 | ||||||
| 800 | Darden Restaurants, Inc. | 162,864 | ||||||
| 2,631 | DoorDash, Inc. (a) | 516,097 | ||||||
| 4,941 | McDonald’s Corp. | 1,337,232 | ||||||
| 7,933 | Starbucks Corp. | 834,948 | ||||||
| 1,924 | Yum! Brands, Inc. | 294,911 | ||||||
|
|
|
| ||||||
| 3,703,830 | ||||||||
|
|
|
| ||||||
| Funds, Trusts, and Other Financial Vehicles - 0.1% |
||||||||
| 1,141 | Garmin Ltd. ADR (Switzerland) | 335,203 | ||||||
| 1,489 | T. Rowe Price Group, Inc. | 166,396 | ||||||
|
|
|
| ||||||
| 501,599 | ||||||||
|
|
|
| ||||||
| Furniture, Home Furnishings, Electronics, and Appliance Retailers - 0.0%(†) |
||||||||
| 1,369 | Best Buy Co., Inc. | 118,090 | ||||||
|
|
|
| ||||||
| Gasoline Stations and Fuel Dealers - 0.5% |
||||||||
| 13,031 | Chevron Corp. | 2,564,892 | ||||||
|
|
|
| ||||||
| General Merchandise Retailers - 4.7% |
||||||||
| 68,118 | Amazon.com, Inc. (a) | 18,499,486 | ||||||
| 3,088 | Costco Wholesale Corp. | 2,939,436 | ||||||
| 1,531 | Dollar General Corp. | 194,514 | ||||||
| 1,262 | Dollar Tree, Inc. (a) | 160,539 | ||||||
| 3,090 | eBay, Inc. | 352,291 | ||||||
| 3,161 | Target Corp. | 456,733 | ||||||
| 30,504 | Walmart, Inc. | 3,392,045 | ||||||
| 824 | Williams-Sonoma, Inc. | 188,416 | ||||||
|
|
|
| ||||||
| 26,183,460 | ||||||||
|
|
|
| ||||||
| Health and Personal Care Retailers - 0.2% |
||||||||
| 8,880 | CVS Health Corp. | 927,338 | ||||||
| 300 | Ulta Beauty, Inc. (a) | 153,849 | ||||||
|
|
|
| ||||||
| 1,081,187 | ||||||||
|
|
|
| ||||||
| Hospitals - 0.1% |
||||||||
| 1,081 | HCA Healthcare, Inc. | 435,200 | ||||||
| 369 | Universal Health Services, Inc. Class B | 62,154 | ||||||
|
|
|
| ||||||
| 497,354 | ||||||||
|
|
|
| ||||||
| Insurance Carriers and Related Activities - 3.2% |
||||||||
| 3,187 | Aflac, Inc. | 406,279 | ||||||
| 1,792 | Allstate Corp. | 473,231 | ||||||
| 3,689 | American International Group, Inc. | 289,882 | ||||||
| 2,423 | Arch Capital Group Ltd. ADR (a) | 243,584 | ||||||
| 1,787 | Arthur J. Gallagher & Co. | 445,713 | ||||||
| 343 | Assurant, Inc. | 95,762 | ||||||
| 12,756 | Berkshire Hathaway, Inc. Class B (a) | 6,525,204 | ||||||
| 2,029 | Brown & Brown, Inc. | 142,842 | ||||||
| 3,263 | Centene Corp. (a) | 203,024 | ||||||
| 2,509 | Chubb Limited ADR (Switzerland) | 879,856 | ||||||
| 1,842 | Cigna Corp. | 514,010 | ||||||
| 1,076 | Cincinnati Financial Corp. | 191,184 | ||||||
| 1,508 | Elevance Health, Inc. | 566,767 | ||||||
| 178 | Erie Indemnity Co. Class A | 43,083 | ||||||
| 281 | Everest Re Group Ltd. ADR | 105,136 | ||||||
| 541 | Globe Life, Inc. | 98,597 | ||||||
| 835 | Humana, Inc. | 303,823 | ||||||
| 1,174 | Loews Corp. | 136,196 | ||||||
| 3,352 | Marsh & McLennan Companies, Inc. | 635,841 | ||||||
| 3,761 | MetLife, Inc. | 361,545 | ||||||
| 1,374 | Principal Financial Group, Inc. | 156,224 | ||||||
| 4,066 | Progressive Corp. | 859,634 | ||||||
| 2,417 | Prudential Financial, Inc. | 295,067 | ||||||
| 1,914 | The Hartford Insurance Group, Inc. | 271,616 | ||||||
| 1,476 | Travelers Companies, Inc. | 552,555 | ||||||
| 6,322 | UnitedHealth Group, Inc. | 2,619,837 | ||||||
| 2,043 | W.R. Berkley Corp. | 148,199 | ||||||
| 659 | Willis Towers Watson PLC ADR (Ireland) | 221,371 | ||||||
|
|
|
| ||||||
| 17,786,062 | ||||||||
|
|
|
| ||||||
| Leather and Allied Product Manufacturing - 0.1% |
||||||||
| 8,348 | NIKE, Inc. Class B | 348,195 | ||||||
| 1,406 | Tapestry, Inc. | 214,232 | ||||||
|
|
|
| ||||||
| 562,427 | ||||||||
|
|
|
| ||||||
| Machinery Manufacturing - 1.8% |
||||||||
| 6,907 | Baker Hughes Co. | 417,805 | ||||||
| 5,431 | Carrier Global Corp. | 335,690 | ||||||
| 3,202 | Caterpillar, Inc. | 2,609,022 | ||||||
| 960 | Cummins, Inc. | 608,832 | ||||||
| 1,748 | Deere & Co. | 1,035,987 | ||||||
| 7,258 | GE Aerospace | 2,613,388 | ||||||
| 513 | IDEX Corp. | 118,221 | ||||||
| 2,483 | Ingersoll Rand, Inc. | 207,033 | ||||||
| 141 | Mettler-Toledo International, Inc. (a) | 199,698 | ||||||
| 367 | Nordson Corp. | 109,285 | ||||||
| 875 | Parker Hannifin Corp. | 854,464 | ||||||
| 1,538 | Trane Technologies PLC ADR (Ireland) | 699,713 | ||||||
| 1,654 | Xylem, Inc. | 193,468 | ||||||
|
|
|
| ||||||
| 10,002,606 | ||||||||
|
|
|
| ||||||
| Management of Companies and Enterprises - 0.4% |
||||||||
| 12,118 | Abbott Laboratories | 1,280,873 | ||||||
| 1,484 | Aon PLC ADR (United Kingdom) | 535,056 | ||||||
| 943 | Bunge Global SA ADR (Switzerland) | 100,175 | ||||||
| 3,192 | Norwegian Cruise Line Holdings Ltd. ADR (a) | 59,148 | ||||||
| 3,649 | Smurfit WestRock PLC ADR (Ireland) | 167,744 | ||||||
|
|
|
| ||||||
| 2,142,996 | ||||||||
|
|
|
| ||||||
| Merchant Wholesalers, Durable Goods - 0.8% |
||||||||
| 749 | Builders FirstSource, Inc. (a) | 49,764 | ||||||
| 6,166 | Copart, Inc. (a) | 179,554 | ||||||
| 7,992 | Fastenal Co. | 381,298 | ||||||
| 957 | Genuine Parts Co. | 119,022 | ||||||
| 674 | Henry Schein, Inc. (a) | 57,795 | ||||||
| 366 | Hubbell, Inc. | 172,953 | ||||||
| 280 | Huntington Ingalls Industries, Inc. | 91,406 | ||||||
| 4,243 | Johnson Controls International PLC ADR (Ireland) | 622,278 | ||||||
| 9,091 | KLA-Tencor Corp. | 1,662,017 | ||||||
| 222 | Lennox International, Inc. | 92,325 | ||||||
| 2,030 | TE Connectivity PLC ADR (Ireland) | 417,551 | ||||||
| 299 | W.W. Grainger, Inc. | 413,284 | ||||||
|
|
|
| ||||||
| 4,259,247 | ||||||||
|
|
|
| ||||||
| Merchant Wholesalers, Nondurable Goods - 0.5% |
||||||||
| 1,171 | Brown Forman Corp. Class B | 33,643 | ||||||
| 1,627 | Cardinal Health, Inc. | 374,259 | ||||||
| 1,355 | Cencora, Inc. | 421,865 | ||||||
| 214 | Domino’s Pizza, Inc. | 74,352 | ||||||
| 1,822 | Illinois Tool Works, Inc. | 522,823 | ||||||
| 836 | McKesson Corp. | 715,775 | ||||||
| 3,326 | Sysco Corp. | 283,508 | ||||||
| 1,595 | The Sherwin Williams Co. | 543,656 | ||||||
|
|
|
| ||||||
| 2,969,881 | ||||||||
|
|
|
| ||||||
| Mining (except Oil and Gas) - 0.3% |
||||||||
| 10,002 | Freeport-McMoRan Copper & Gold, Inc. | 626,425 | ||||||
| 417 | Martin Marietta Materials, Inc. | 218,984 | ||||||
| 7,431 | Newmont Corp. | 696,359 | ||||||
| 900 | Vulcan Materials Co. | 241,713 | ||||||
|
|
|
| ||||||
| 1,783,481 | ||||||||
|
|
|
| ||||||
| Miscellaneous Manufacturing - 1.8% |
||||||||
| 3,629 | 3M Co. | 639,720 | ||||||
| 464 | Align Technology, Inc. (a) | 78,490 | ||||||
| 3,599 | Baxter International, Inc. | 94,150 | ||||||
| 1,923 | Becton, Dickinson & Co. | 318,487 | ||||||
| 10,340 | Boston Scientific Corp. (a) | 483,188 | ||||||
| 2,682 | DexCom, Inc. (a) | 223,813 | ||||||
| 934 | Dover Corp. | 191,115 | ||||||
| 4,008 | Edwards Lifesciences Corp. (a) | 344,969 | ||||||
| 1,721 | Estee Lauder Companies, Inc. Class A | 144,392 | ||||||
| 933 | Hasbro, Inc. | 87,646 | ||||||
| 480 | Insulet Corp. (a) | 79,368 | ||||||
| 2,470 | Intuitive Surgical, Inc. (a) | 872,725 | ||||||
| 16,752 | Johnson & Johnson | 4,294,375 | ||||||
| 8,934 | Medtronic PLC ADR (Ireland) | 762,874 | ||||||
| 1,007 | ResMed, Inc. | 212,457 | ||||||
| 1,024 | Solventum Corp. (a) | 87,491 | ||||||
| 683 | Steris PLC ADR (Ireland) | 155,997 | ||||||
| 2,402 | Stryker Corp. | 782,331 | ||||||
| 1,210 | Textron, Inc. | 103,165 | ||||||
| 1,360 | The Cooper Companys, Inc. (a) | 98,355 | ||||||
| 1,351 | Zimmer Biomet Holdings, Inc. | 126,900 | ||||||
|
|
|
| ||||||
| 10,182,008 | ||||||||
|
|
|
| ||||||
| Motion Picture and Sound Recording Industries - 0.4% |
||||||||
| 29,301 | Netflix, Inc. (a) | 2,101,175 | ||||||
|
|
|
| ||||||
| Motor Vehicle and Parts Dealers - 0.2% |
||||||||
| 116 | AutoZone, Inc. (a) | 349,885 | ||||||
| 4,982 | Carvana Co. (a) | 310,678 | ||||||
| 5,769 | O’Reilly Automotive, Inc. (a) | 515,460 | ||||||
|
|
|
| ||||||
| 1,176,023 | ||||||||
|
|
|
| ||||||
| National Security and International Affairs - 0.0%(†) |
||||||||
| 873 | Leidos Holdings, Inc. | 100,919 | ||||||
|
|
|
| ||||||
| Nonmetallic Mineral Product Manufacturing - 0.1% |
||||||||
| 5,450 | Corning, Inc. | 753,462 | ||||||
|
|
|
| ||||||
| Oil and Gas Extraction - 1.1% |
||||||||
| 2,464 | APA Corp. | 91,956 | ||||||
| 8,025 | Devon Energy Corp. | 362,168 | ||||||
| 1,353 | Diamondback Energy, Inc. | 274,591 | ||||||
| 3,707 | EOG Resources, Inc. | 551,194 | ||||||
| 4,353 | EQT Corp. | 231,971 | ||||||
| 1,663 | Expand Energy Corp. | 156,372 | ||||||
| 28,840 | ExxonMobil Holdings Corp. | 4,482,890 | ||||||
| 5,051 | Occidental Petroleum Corp. | 288,261 | ||||||
|
|
|
| ||||||
| 6,439,403 | ||||||||
|
|
|
| ||||||
| Paper Manufacturing - 0.0%(†) |
||||||||
| 617 | Packaging Corp of America | 151,683 | ||||||
|
|
|
| ||||||
| Performing Arts, Spectator Sports, and Related Industries - 0.1% |
||||||||
| 1,565 | Electronic Arts, Inc. | 328,431 | ||||||
|
|
|
| ||||||
| Petroleum and Coal Products Manufacturing - 0.5% |
||||||||
| 8,479 | ConocoPhillips | 1,021,550 | ||||||
| 2,030 | Marathon Petroleum Corp. | 642,434 | ||||||
| 2,790 | Phillips 66 | 590,587 | ||||||
| 2,064 | Valero Energy Corp. | 645,826 | ||||||
|
|
|
| ||||||
| 2,900,397 | ||||||||
|
|
|
| ||||||
| Pipeline Transportation - 0.2% |
||||||||
| 1,492 | Targa Resources Corp. | 403,392 | ||||||
| 8,512 | Williams Cos., Inc. | 608,948 | ||||||
|
|
|
| ||||||
| 1,012,340 | ||||||||
|
|
|
| ||||||
| Plastics and Rubber Products Manufacturing - 0.0%(†) |
||||||||
| 531 | Avery Dennison Corp. | 90,127 | ||||||
| 490 | West Pharmaceutical Services, Inc. | 167,070 | ||||||
|
|
|
| ||||||
| 257,197 | ||||||||
|
|
|
| ||||||
| Primary Metal Manufacturing - 0.2% |
||||||||
| 2,782 | Howmet Aerospace, Inc. | 785,247 | ||||||
| 941 | Steel Dynamics, Inc. | 236,436 | ||||||
|
|
|
| ||||||
| 1,021,683 | ||||||||
|
|
|
| ||||||
| Professional, Scientific, and Technical Services - 3.4% |
||||||||
| 4,272 | Accenture PLC Class A ADR (Ireland) | 708,810 | ||||||
| 1,875 | AppLovin Corp. (a) | 742,313 | ||||||
| 887 | CDW Corp. | 131,107 | ||||||
| 332 | Charles River Laboratories International, Inc. (a) | 77,193 | ||||||
| 982 | Ciena Corp. (a) | 370,263 | ||||||
| 3,294 | Cognizant Technology Solutions Corp. Class A | 182,323 | ||||||
| 2,700 | Eaton Corporation PLC ADR (Ireland) | 1,121,040 | ||||||
| 1,467 | Extra Space Storage, Inc. | 217,175 | ||||||
| 392 | F5 Networks, Inc. (a) | 157,807 | ||||||
| 919 | GoDaddy, Inc. (a) | 76,038 | ||||||
| 550 | IDEXX Laboratories, Inc. (a) | 307,489 | ||||||
| 3,683 | International Paper Co. | 150,377 | ||||||
| 1,160 | IQVIA Holdings, Inc. (a) | 272,623 | ||||||
| 493 | Jack Henry & Associates, Inc. | 75,942 | ||||||
| 827 | Jacobs Solutions, Inc. | 111,587 | ||||||
| 15,285 | Meta Platforms, Inc. | 8,509,312 | ||||||
| 2,462 | Moderna, Inc. (a) | 134,967 | ||||||
| 1,984 | Omnicom Group, Inc. | 156,141 | ||||||
| 11,812 | Oracle Corp. | 1,534,024 | ||||||
| 15,973 | Palantir Technologies, Inc. (a) | 1,965,637 | ||||||
| 2,244 | Paychex, Inc. | 262,189 | ||||||
| 808 | PTC, Inc. (a) | 110,858 | ||||||
| 7,176 | ServiceNow, Inc. (a) | 798,187 | ||||||
| 1,212 | Take-Two Interactive Software, Inc. (a) | 294,419 | ||||||
| 2,973 | The Trade Desk, Inc. (a) | 53,633 | ||||||
| 570 | VeriSign, Inc. | 165,311 | ||||||
| 910 | Verisk Analytics, Inc. Class A | 177,314 | ||||||
| 1,418 | Workday, Inc. (a) | 227,362 | ||||||
|
|
|
| ||||||
| 19,091,441 | ||||||||
|
|
|
| ||||||
| Publishing Industries - 5.6% |
||||||||
| 2,811 | Adobe, Inc. (a) | 703,903 | ||||||
| 1,009 | Akamai Technologies, Inc. (a) | 116,217 | ||||||
| 1,467 | Autodesk, Inc. (a) | 343,571 | ||||||
| 3,724 | Block, Inc. (a) | 302,538 | ||||||
| 1,925 | Cadence Design Systems, Inc. (a) | 654,538 | ||||||
| 7,082 | CrowdStrike Holdings, Inc. (a) | 1,351,671 | ||||||
| 2,301 | Datadog, Inc. (a) | 616,599 | ||||||
| 164 | Fair Isaac Corp. (a) | 184,167 | ||||||
| 3,832 | Gen Digital, Inc. | 105,188 | ||||||
| 9,229 | Hewlett Packard Enterprise Co. | 442,069 | ||||||
| 1,929 | Intuit, Inc. | 609,699 | ||||||
| 51,691 | Microsoft Corp. | 24,021,842 | ||||||
| 2,538 | News Corp. Class A | 69,947 | ||||||
| 838 | News Corp. Class B | 26,204 | ||||||
| 5,691 | Salesforce, Inc. | 1,047,258 | ||||||
| 1,335 | Synopsys, Inc. (a) | 518,995 | ||||||
| 290 | Tyler Technologies, Inc. (a) | 89,784 | ||||||
| 1,044 | Veeva Systems, Inc. (a) | 212,746 | ||||||
|
|
|
| ||||||
| 31,416,936 | ||||||||
|
|
|
| ||||||
| Rail Transportation - 0.3% |
||||||||
| 12,933 | CSX Corp. | 651,823 | ||||||
| 4,135 | Union Pacific Corp. | 1,207,958 | ||||||
|
|
|
| ||||||
| 1,859,781 | ||||||||
|
|
|
| ||||||
| Real Estate - 1.2% |
||||||||
| 1,090 | Alexandria Real Estate Equities, Inc. | 56,081 | ||||||
| 3,241 | American Tower Corp. | 561,860 | ||||||
| 965 | AvalonBay Communities, Inc. | 179,114 | ||||||
| 1,031 | BXP, Inc. | 72,294 | ||||||
| 702 | Camden Property Trust | 77,789 | ||||||
| 2,035 | CBRE Group, Inc. Class A (a) | 298,758 | ||||||
| 3,041 | Crown Castle, Inc. | 232,028 | ||||||
| 2,385 | Digital Realty Trust, Inc. | 449,620 | ||||||
| 2,374 | Equity Residential | 157,752 | ||||||
| 446 | Essex Property Trust, Inc. | 126,726 | ||||||
| 548 | Federal Realty Investment Trust | 68,001 | ||||||
| 4,797 | Healthpeak Properties, Inc. | 104,719 | ||||||
| 3,801 | Invitation Homes, Inc. | 112,966 | ||||||
| 4,698 | Kimco Realty Corp. | 119,705 | ||||||
| 813 | Mid-America Apartment Communities, Inc. | 107,592 | ||||||
| 6,486 | Prologis, Inc. | 937,941 | ||||||
| 1,095 | Public Storage | 354,966 | ||||||
| 6,487 | Realty Income Corp. | 414,325 | ||||||
| 1,146 | Regency Centers Corp. | 92,012 | ||||||
| 2,256 | Simon Property Group, Inc. | 517,459 | ||||||
| 2,056 | UDR, Inc. | 78,457 | ||||||
| 3,382 | Ventas, Inc. | 316,251 | ||||||
| 7,603 | VICI Properties, Inc. | 200,339 | ||||||
| 4,912 | Welltower, Inc. | 1,151,569 | ||||||
| 5,014 | Weyerhaeuser Co. | 125,500 | ||||||
|
|
|
| ||||||
| 6,913,824 | ||||||||
|
|
|
| ||||||
| Rental and Leasing Services - 0.1% |
||||||||
| 436 | United Rentals, Inc. | 470,557 | ||||||
|
|
|
| ||||||
| Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 2.1% |
||||||||
| 3,207 | Apollo Global Management, Inc. | 402,767 | ||||||
| 1,465 | Ares Management Corp. | 187,652 | ||||||
| 1,005 | Blackrock, Inc. | 1,095,842 | ||||||
| 730 | Cboe Global Markets, Inc. | 226,468 | ||||||
| 11,377 | Charles Schwab Corp. | 1,197,315 | ||||||
| 2,521 | CME Group, Inc. | 675,099 | ||||||
| 4,654 | CRH PLC ADR (Ireland) | 442,177 | ||||||
| 5,013 | Dow, Inc. | 151,844 | ||||||
| 2,132 | Franklin Resources, Inc. | 72,189 | ||||||
| 2,051 | Goldman Sachs Group, Inc. | 2,088,697 | ||||||
| 3,100 | Interactive Brokers Group, Inc. Class A | 272,769 | ||||||
| 3,085 | Invesco Ltd. ADR | 91,316 | ||||||
| 4,810 | KKR & Co., Inc. | 487,878 | ||||||
| 8,342 | Morgan Stanley | 1,755,324 | ||||||
| 507 | MSCI, Inc. Class A | 290,126 | ||||||
| 3,108 | NASDAQ OMX Group, Inc. | 292,743 | ||||||
| 1,207 | Raymond James Financial, Inc. | 212,408 | ||||||
| 5,504 | Robinhood Markets, Inc. (a) | 476,426 | ||||||
| 2,109 | S&P Global, Inc. | 868,760 | ||||||
| 5,168 | The Blackstone Group, Inc. | 660,212 | ||||||
|
|
|
| ||||||
| 11,948,012 | ||||||||
|
|
|
| ||||||
| Specialty Trade Contractors - 0.2% |
||||||||
| 248 | Comfort Systems USA, Inc. | 428,963 | ||||||
| 307 | EMCOR Group, Inc. | 244,811 | ||||||
| 1,044 | Quanta Services, Inc. | 696,724 | ||||||
|
|
|
| ||||||
| 1,370,498 | ||||||||
|
|
|
| ||||||
| Support Activities for Agriculture and Forestry - 0.1% |
||||||||
| 4,658 | Corteva, Inc. | 366,631 | ||||||
|
|
|
| ||||||
| Support Activities for Mining - 0.1% |
||||||||
| 5,817 | Halliburton Co. | 187,598 | ||||||
| 10,402 | SLB Ltd. ADR | 515,835 | ||||||
|
|
|
| ||||||
| 703,433 | ||||||||
|
|
|
| ||||||
| Support Activities for Transportation - 0.2% |
||||||||
| 825 | C.H. Robinson Worldwide, Inc. | 121,877 | ||||||
| 800 | Expedia, Inc. | 235,792 | ||||||
| 909 | Expeditors International of Washington, Inc. | 152,612 | ||||||
| 517 | J.B. Hunt Transport Services, Inc. | 140,495 | ||||||
| 1,561 | Norfolk Southern Corp. | 523,684 | ||||||
|
|
|
| ||||||
| 1,174,460 | ||||||||
|
|
|
| ||||||
| Telecommunications - 0.8% |
||||||||
| 48,350 | AT&T, Inc. | 1,124,138 | ||||||
| 687 | Equinix, Inc. | 700,246 | ||||||
| 6,138 | PayPal Holdings, Inc. | 351,155 | ||||||
| 740 | SBA Communications Corp. | 133,925 | ||||||
| 3,237 | T-Mobile US, Inc. | 559,062 | ||||||
| 29,056 | Verizon Communications, Inc. | 1,360,111 | ||||||
|
|
|
| ||||||
| 4,228,637 | ||||||||
|
|
|
| ||||||
| Transportation Equipment Manufacturing - 2.1% |
||||||||
| 1,470 | Aptiv PLC ADR (a) | 83,011 | ||||||
| 5,486 | Boeing Co. (a) | 1,185,744 | ||||||
| 764 | Fedex Freight Holding Co., Inc. (a) | 107,365 | ||||||
| 27,232 | Ford Motor Co. | 399,766 | ||||||
| 1,767 | General Dynamics Corp. | 677,503 | ||||||
| 6,276 | General Motors Co. | 557,685 | ||||||
| 2,203 | Honeywell International, Inc. | 535,439 | ||||||
| 1,412 | Lockheed Martin Corp. | 822,829 | ||||||
| 3,661 | Paccar, Inc. | 485,741 | ||||||
| 19,590 | Tesla, Inc. (a) | 6,096,604 | ||||||
| 389 | TransDigm Group, Inc. | 487,954 | ||||||
| 1,181 | Wabtec Corp. | 343,506 | ||||||
|
|
|
| ||||||
| 11,783,147 | ||||||||
|
|
|
| ||||||
| Truck Transportation - 0.1% |
||||||||
| 2,203 | Honeywell Aerospace, Inc. (a) | 455,448 | ||||||
| 1,275 | Old Dominion Freight Line, Inc. | 270,479 | ||||||
|
|
|
| ||||||
| 725,927 | ||||||||
|
|
|
| ||||||
| Utilities - 2.2% |
||||||||
| 4,962 | AES Corp. | 72,842 | ||||||
| 1,799 | Alliant Energy Corp. | 127,333 | ||||||
| 1,931 | Ameren Corp. | 211,657 | ||||||
| 3,784 | American Electric Power Co., Inc. | 483,784 | ||||||
| 1,361 | American Water Works Co., Inc. | 182,605 | ||||||
| 1,160 | Atmos Energy Corp. | 200,425 | ||||||
| 4,551 | CenterPoint Energy, Inc. | 191,324 | ||||||
| 2,147 | CMS Energy Corp. | 154,563 | ||||||
| 2,565 | Consolidated Edison, Inc. | 279,200 | ||||||
| 2,224 | Constellation Energy Corp. | 584,356 | ||||||
| 6,117 | Dominion Energy, Inc. | 423,113 | ||||||
| 1,448 | DTE Energy Co. | 205,428 | ||||||
| 5,424 | Duke Energy Corp. | 680,332 | ||||||
| 2,677 | Edison International | 196,411 | ||||||
| 3,185 | Entergy Corp. | 342,770 | ||||||
| 1,602 | Evergy, Inc. | 132,982 | ||||||
| 2,614 | Eversource Energy | 187,136 | ||||||
| 7,119 | Exelon Corp. | 326,193 | ||||||
| 3,622 | FirstEnergy Corp. | 174,979 | ||||||
| 1,872 | GE Vernova, Inc. | 1,853,823 | ||||||
| 13,628 | Kinder Morgan, Inc. | 438,549 | ||||||
| 14,512 | NextEra Energy, Inc. | 1,261,383 | ||||||
| 3,333 | NiSource, Inc. | 148,085 | ||||||
| 1,465 | NRG Energy, Inc. | 196,735 | ||||||
| 4,382 | ONEOK, Inc. | 397,929 | ||||||
| 15,323 | PG&E Corp. | 266,314 | ||||||
| 844 | Pinnacle West Capital Corp. | 85,236 | ||||||
| 5,238 | PPL Corp. | 184,430 | ||||||
| 3,468 | Public Service Enterprise Group, Inc. | 265,926 | ||||||
| 4,547 | Sempra Energy | 402,637 | ||||||
| 7,842 | Southern Co. | 741,383 | ||||||
| 400 | Texas Pacific Land Corp. | 161,032 | ||||||
| 2,205 | Vistra Corp. | 326,759 | ||||||
| 2,265 | WEC Energy Group, Inc. | 247,836 | ||||||
| 4,345 | Xcel Energy, Inc. | 339,779 | ||||||
|
|
|
| ||||||
| 12,475,269 | ||||||||
|
|
|
| ||||||
| Waste Management and Remediation Services - 0.1% |
||||||||
| 1,392 | Republic Services, Inc. | 293,086 | ||||||
|
|
|
| ||||||
| Water Transportation - 0.0%(†) |
||||||||
| 8,953 | Carnival Corp. Ltd. ADR | 248,983 | ||||||
|
|
|
| ||||||
| Web Search Portals, Libraries, Archives, and Other Information Services - 0.0%(†) |
||||||||
| 2,840 | CoStar Group, Inc. (a) | 81,678 | ||||||
|
|
|
| ||||||
| Wood Product Manufacturing - 0.0%(†) |
||||||||
| 1,403 | Masco Corp. | 100,287 | ||||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $427,577,027) | $ | 447,928,885 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 18.0% |
||||||||
| Money Market Funds - 18.0% |
||||||||
| 9,293,863 | Dreyfus Government Cash Management Institutional Shares, 3.56% (b) | $ | 9,293,863 | |||||
| 17,949,834 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (b) | 17,949,834 | ||||||
| 74,070,840 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.57% (b) | 74,070,840 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $101,314,537) | $ | 101,314,537 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $528,891,564) - 97.5% (c) | $ | 549,243,422 | ||||||
| Other Assets in Excess of Liabilities - 2.5% | 14,005,895 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 563,249,317 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
(†) Less than 0.05%.
| (a) | Non-income producing security. |
| (b) | Represents annualized seven-day yield at July 31, 2026. |
| (c) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $146,795,055. |
ADR - American Depository Receipt
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation | ||||||||||||
|
|
||||||||||||||||||
| Total return of Invesco QQQ Trust Series 1 | SOFR + 0.6500% | Barclays | 12/22/2026 | 541,800 | $ | 349,335,863 | $ | 19,550,656 | ||||||||||
| Total return of Technology Select Sector SPDR Fund | SOFR + 0.6500% | Goldman Sachs | 5/18/2027 | 119,000 | 85,308,898 | (3,847,256) | ||||||||||||
| Total return of Invesco QQQ Trust Series 1 | SOFR + 0.7500% | Goldman Sachs | 7/13/2027 | 822,000 | 123,571,309 | 19,186,002 | ||||||||||||
|
|
|
|||||||||||||||||
| $ | 558,216,070 | $ | 34,889,402 | |||||||||||||||
|
|
|
|||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion META Defined Income Boost ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 9.9% |
| |||||||
| Professional, Scientific, and Technical Services - 9.9% |
| |||||||
| 333 | Meta Platforms, Inc. | $ | 185,385 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $197,609) | $ | 185,385 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 96.3% |
| |||||||
| 252,416 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 252,416 | |||||
| 1,550,000 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 1,550,000 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $1,802,416) | $ | 1,802,416 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $2,000,025) - 106.2% (b) | $ | 1,987,801 | ||||||
| Liabilities in Excess of Other Assets - (6.2)% | (115,198) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 1,872,603 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $1,550,000. |
| Long Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Depreciation | ||||||||||||
|
|
||||||||||||||||||
| Total return of common shares of Meta Platforms, Inc. | SOFR + 0.9000% | Goldman Sachs | 12/10/2026 | 2,961 | $ | 1,757,087 | $ | (109,359) | ||||||||||
| Total return of Cboe META Defined Income Index | SOFR + 0.0000% | Goldman Sachs | 12/10/2026 | 29,882 | 1,815,332 | (2,092) | ||||||||||||
|
|
|
|||||||||||||||||
| $ | 3,572,419 | $ | (111,451) | |||||||||||||||
|
|
|
|||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion MU Defined Income Boost ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 10.3% |
||||||||
| Computer and Electronic Product Manufacturing - 10.3% |
||||||||
| 250 | Micron Technology, Inc. | $ | 205,758 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $205,135) | $ | 205,758 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 89.5% |
||||||||
| 34,890 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 34,890 | |||||
| 1,760,000 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 1,760,000 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $1,794,890) | $ | 1,794,890 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $2,000,025) - 99.8% (b) | $ | 2,000,648 | ||||||
| Other Assets in Excess of Liabilities - 0.2% | 4,785 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 2,005,433 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $1,760,000. |
| Long Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) | ||||||||||||
| Total return of common shares of Micron Technology, Inc. |
SOFR + 0.9000% | Goldman Sachs | 12/10/2026 | 2,314 | $ | 1,898,706 | $ | 5,036 | ||||||||||
| Total return of Cboe MU Defined Income Index | SOFR + 0.0000% | Goldman Sachs | 12/10/2026 | 31,610 | 2,151,061 | (948) | ||||||||||||
|
|
|
|||||||||||||||||
| $ | 4,049,767 | $ | 4,088 | |||||||||||||||
|
|
|
|||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion NASDAQ-100® Equal Weighted IndeX ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 99.9% |
||||||||
| Accommodation - 2.2% |
| |||||||
| 101,963 | Airbnb, Inc. Class A (a) | $ | 15,449,434 | |||||
| 36,189 | Marriott International, Inc. Class C | 13,492,345 | ||||||
|
|
|
| ||||||
| 28,941,779 | ||||||||
|
|
|
| ||||||
| Administrative and Support Services - 3.5% |
| |||||||
| 61,272 | Automatic Data Processing, Inc. | 16,326,537 | ||||||
| 81,184 | Booking Holdings, Inc. | 15,660,394 | ||||||
| 160,974 | Pinduoduo, Inc. ADR (China) (a) | 14,255,857 | ||||||
|
|
|
| ||||||
| 46,242,788 | ||||||||
|
|
|
| ||||||
| Apparel Manufacturing - 1.2% |
| |||||||
| 79,369 | Cintas Corp. | 16,241,278 | ||||||
|
|
|
| ||||||
| Beverage and Tobacco Product Manufacturing - 4.4% |
| |||||||
| 149,879 | Coca-Cola Europacific Partners ADR (United Kingdom) | 16,405,755 | ||||||
| 452,633 | Keurig Dr Pepper, Inc. | 14,085,939 | ||||||
| 154,321 | Monster Beverage Corp. (a) | 14,873,458 | ||||||
| 94,268 | PepsiCo, Inc. | 13,156,042 | ||||||
|
|
|
| ||||||
| 58,521,194 | ||||||||
|
|
|
| ||||||
| Broadcasting and Content Providers - 2.0% |
| |||||||
| 546,547 | Comcast Corp. Class A | 13,095,266 | ||||||
| 503,243 | Warner Bros Discovery, Inc. (a) | 13,235,291 | ||||||
|
|
|
| ||||||
| 26,330,557 | ||||||||
|
|
|
| ||||||
| Chemical Manufacturing - 6.2% |
| |||||||
| 45,011 | Alnylam Pharmaceuticals, Inc. (a) | 9,250,661 | ||||||
| 40,359 | Amgen, Inc. | 15,544,672 | ||||||
| 101,112 | Gilead Sciences, Inc. | 13,165,794 | ||||||
| 27,311 | Linde PLC ADR (Ireland) | 13,065,036 | ||||||
| 22,110 | Regeneron Pharmaceuticals, Inc. | 16,861,749 | ||||||
| 30,372 | Vertex Pharmaceuticals, Inc. (a) | 14,490,481 | ||||||
|
|
|
| ||||||
| 82,378,393 | ||||||||
|
|
|
| ||||||
| Clothing, Clothing Accessories, Shoe, and Jewelry Retailers - 1.1% |
| |||||||
| 58,658 | Ross Stores, Inc. | 14,727,264 | ||||||
|
|
|
| ||||||
| Computer and Electronic Product Manufacturing - 25.6% |
| |||||||
| 26,336 | Advanced Micro Devices, Inc. (a) | 12,539,886 | ||||||
| 17,870 | Alphabet, Inc. | 6,364,043 | ||||||
| 18,055 | Alphabet, Inc. Class C | 6,439,316 | ||||||
| 32,844 | Analog Devices, Inc. | 12,067,214 | ||||||
| 43,558 | Apple, Inc. | 13,455,502 | ||||||
| 30,201 | Applied Materials, Inc. | 15,332,142 | ||||||
| 39,646 | Astera Labs, Inc. (a) | 12,339,024 | ||||||
| 30,424 | Broadcom, Inc. | 11,843,455 | ||||||
| 112,877 | Cisco Systems, Inc. | 13,092,603 | ||||||
| 98,519 | Fortinet, Inc. (a) | 15,955,152 | ||||||
| 218,039 | GE HealthCare Technologies, Inc. | 14,831,013 | ||||||
| 118,526 | Intel Corp. (a) | 10,691,045 | ||||||
| 42,721 | Lam Research Corp. | 12,518,107 | ||||||
| 15,898 | Lumentum Holdings, Inc. (a) | 11,350,218 | ||||||
| 66,305 | Marvell Technology, Inc. | 12,436,166 | ||||||
| 143,609 | Microchip Technology, Inc. | 10,668,713 | ||||||
| 13,999 | Micron Technology, Inc. | 11,521,597 | ||||||
| 8,679 | Monolithic Power Systems, Inc. | 12,376,514 | ||||||
| 64,379 | NVIDIA Corp. | 12,924,084 | ||||||
| 42,298 | NXP Semiconductors NV ADR (Netherlands) | 9,693,010 | ||||||
| 48,253 | Palo Alto Networks, Inc. (a) | 16,011,793 | ||||||
| 54,149 | Qualcomm, Inc. | 7,992,934 | ||||||
| 41,756 | Roper Technologies, Inc. | 16,367,099 | ||||||
| 8,020 | Sandisk Corp. (a) | 9,742,937 | ||||||
| 15,449 | Seagate Technology Holdings PLC ADR (Ireland) | 13,226,352 | ||||||
| 36,314 | Teradyne, Inc. | 13,352,295 | ||||||
| 44,467 | Texas Instruments, Inc. | 12,261,331 | ||||||
| 25,588 | Western Digital Corp. | 13,941,366 | ||||||
|
|
|
| ||||||
| 341,334,911 | ||||||||
|
|
|
| ||||||
| Data Processing, Hosting and Related Services - 1.0% |
| |||||||
| 114,504 | Shopify, Inc. (Canada) (a) | 13,414,144 | ||||||
|
|
|
| ||||||
| Electrical Equipment, Appliance, and Component Manufacturing - 1.2% |
| |||||||
| 30,292 | Axon Enterprise, Inc. (a) | 15,986,906 | ||||||
|
|
|
| ||||||
| Food Manufacturing - 2.1% |
| |||||||
| 222,210 | Mondelez International, Inc. | 13,845,905 | ||||||
| 566,122 | The Kraft Heinz Co. | 14,634,254 | ||||||
|
|
|
| ||||||
| 28,480,159 | ||||||||
|
|
|
| ||||||
| Food Services and Drinking Places - 2.3% |
| |||||||
| 85,333 | DoorDash, Inc. (a) | 16,738,921 | ||||||
| 137,080 | Starbucks Corp. | 14,427,670 | ||||||
|
|
|
| ||||||
| 31,166,591 | ||||||||
|
|
|
| ||||||
| General Merchandise Retailers - 4.1% |
| |||||||
| 50,225 | Amazon.com, Inc. (a) | 13,640,106 | ||||||
| 14,214 | Costco Wholesale Corp. | 13,530,164 | ||||||
| 8,016 | MercadoLibre, Inc. (a) | 15,053,647 | ||||||
| 117,431 | Walmart, Inc. | 13,058,327 | ||||||
|
|
|
| ||||||
| 55,282,244 | ||||||||
|
|
|
| ||||||
| Machinery Manufacturing - 2.0% |
| |||||||
| 8,428 | ASML Holding NV ADR (Netherlands) | 13,729,212 | ||||||
| 212,782 | Baker Hughes Co. | 12,871,183 | ||||||
|
|
|
| ||||||
| 26,600,395 | ||||||||
|
|
|
| ||||||
| Management of Companies and Enterprises - 1.7% |
| |||||||
| 38,474 | ARM Holdings PLC ADR (United Kingdom) (a) | 9,221,833 | ||||||
| 199,861 | Ferrovial SE ADR (Netherlands) | 13,010,951 | ||||||
|
|
|
| ||||||
| 22,232,784 | ||||||||
|
|
|
| ||||||
| Merchant Wholesalers, Durable Goods - 3.0% |
| |||||||
| 414,787 | Copart, Inc. (a) | 12,078,597 | ||||||
| 307,526 | Fastenal Co. | 14,672,066 | ||||||
| 70,732 | KLA-Tencor Corp. | 12,931,224 | ||||||
|
|
|
| ||||||
| 39,681,887 | ||||||||
|
|
|
| ||||||
| Miscellaneous Manufacturing - 2.0% |
| |||||||
| 184,331 | DexCom, Inc. (a) | 15,382,422 | ||||||
| 32,011 | Intuitive Surgical, Inc. (a) | 11,310,447 | ||||||
|
|
|
| ||||||
| 26,692,869 | ||||||||
|
|
|
| ||||||
| Motion Picture and Sound Recording Industries - 0.8% |
| |||||||
| 158,017 | Netflix, Inc. (a) | 11,331,399 | ||||||
|
|
|
| ||||||
| Motor Vehicle and Parts Dealers - 1.0% |
| |||||||
| 156,452 | O’Reilly Automotive, Inc. (a) | 13,978,986 | ||||||
|
|
|
| ||||||
| Oil and Gas Extraction - 1.1% |
| |||||||
| 70,990 | Diamondback Energy, Inc. | 14,407,421 | ||||||
|
|
|
| ||||||
| Performing Arts, Spectator Sports, and Related Industries - 1.1% |
| |||||||
| 67,383 | Electronic Arts, Inc. | 14,140,996 | ||||||
|
|
|
| ||||||
| Professional, Scientific, and Technical Services - 7.5% |
| |||||||
| 22,171 | AppLovin Corp. (a) | 8,777,499 | ||||||
| 124,098 | CoreWeave, Inc. (a) | 8,906,513 | ||||||
| 24,120 | IDEXX Laboratories, Inc. (a) | 13,484,768 | ||||||
| 21,490 | Meta Platforms, Inc. | 11,963,698 | ||||||
| 86,831 | Palantir Technologies, Inc. (a) | 10,685,423 | ||||||
| 140,158 | Paychex, Inc. | 16,376,061 | ||||||
| 60,638 | Take-Two Interactive Software, Inc. (a) | 14,730,183 | ||||||
| 92,979 | Workday, Inc. (a)(b) | 14,908,253 | ||||||
|
|
|
| ||||||
| 99,832,398 | ||||||||
|
|
|
| ||||||
| Publishing Industries - 10.5% |
| |||||||
| 52,439 | Adobe, Inc. (a) | 13,131,250 | ||||||
| 58,763 | Autodesk, Inc. (a) | 13,762,295 | ||||||
| 36,254 | Cadence Design Systems, Inc. (a) | 12,327,085 | ||||||
| 74,379 | CrowdStrike Holdings, Inc. (a) | 14,195,976 | ||||||
| 54,953 | Datadog, Inc. (a) | 14,725,755 | ||||||
| 40,999 | Intuit, Inc. | 12,958,554 | ||||||
| 30,191 | Microsoft Corp. | 14,030,362 | ||||||
| 58,820 | Nebius Group NV ADR (a) | 11,199,916 | ||||||
| 85,439 | Strategy, Inc. (a)(b) | 7,969,750 | ||||||
| 28,579 | Synopsys, Inc. (a) | 11,110,372 | ||||||
| 157,123 | Thomson Reuters Corp. ADR | 15,418,480 | ||||||
|
|
|
| ||||||
| 140,829,795 | ||||||||
|
|
|
| ||||||
| Rail Transportation - 1.1% |
| |||||||
| 300,322 | CSX Corp. | 15,136,229 | ||||||
|
|
|
| ||||||
| Telecommunications - 2.2% |
| |||||||
| 303,744 | PayPal Holdings, Inc. | 17,377,194 | ||||||
| 72,482 | T-Mobile US, Inc. | 12,518,366 | ||||||
|
|
|
| ||||||
| 29,895,560 | ||||||||
|
|
|
| ||||||
| Transportation Equipment Manufacturing - 3.6% |
| |||||||
| 28,573 | Honeywell International, Inc. | 6,944,668 | ||||||
| 123,155 | Paccar, Inc. | 16,340,205 | ||||||
| 94,734 | Rocket Lab Corp. (a)(b) | 6,152,973 | ||||||
| 85,810 | Space Exploration Technologies Corp. (a)(b) | 9,299,230 | ||||||
| 31,190 | Tesla, Inc. (a) | 9,706,640 | ||||||
|
|
|
| ||||||
| 48,443,716 | ||||||||
|
|
|
| ||||||
| Truck Transportation - 1.4% |
| |||||||
| 28,573 | Honeywell Aerospace, Inc. (a) | 5,907,182 | ||||||
| 60,371 | Old Dominion Freight Line, Inc. | 12,807,104 | ||||||
|
|
|
| ||||||
| 18,714,286 | ||||||||
|
|
|
| ||||||
| Utilities - 4.0% |
| |||||||
| 107,307 | American Electric Power Co., Inc. | 13,719,200 | ||||||
| 47,238 | Constellation Energy Corp. | 12,411,785 | ||||||
| 297,821 | Exelon Corp. | 13,646,158 | ||||||
| 170,976 | Xcel Energy, Inc. | 13,370,323 | ||||||
|
|
|
| ||||||
| 53,147,466 | ||||||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $1,264,983,525) | $ | 1,334,114,395 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 0.1% |
| |||||||
| Money Market Funds - 0.1% |
| |||||||
| 1,021,781 | Dreyfus Government Cash Management Institutional Shares, 3.56% (c)(d) | $ | 1,021,781 | |||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $1,021,781) | $ | 1,021,781 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $1,266,005,306) - 100.0% | $ | 1,335,136,176 | ||||||
| Liabilities in Excess of Other Assets - (0.0)% (†) | (219,545) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 1,334,916,631 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
(†) Less than 0.05%.
| (a) | Non-income producing security. |
| (b) | A portion of this security represents a security on loan. |
| (c) | Represents annualized seven-day yield at July 31, 2026. |
| (d) | All or a portion of this security represents an investment of securities lending collateral. |
ADR - American Depository Receipt
| Direxion NVDA Defined Income Boost ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 10.1% |
||||||||
| Computer and Electronic Product Manufacturing - 10.1% |
||||||||
| 1,025 | NVIDIA Corp. | $ | 205,768 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $201,944) | $ | 205,768 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 88.2% |
||||||||
| 228,081 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 228,081 | |||||
| 1,570,000 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 1,570,000 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $1,798,081) | $ | 1,798,081 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $2,000,025) - 98.3% (b) | $ | 2,003,849 | ||||||
| Other Assets in Excess of Liabilities - 1.7% | 34,085 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 2,037,934 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $1,570,001. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
|
Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||
| Total return of common shares of NVIDIA Corp. |
SOFR + 0.9000% | Goldman Sachs | 12/10/2026 | 8,940 | $ | 1,761,270 | $ | 32,748 | ||||||||||
| Total return of Cboe NVDA Defined Income Index |
SOFR + 0.0000% | Goldman Sachs | 12/10/2026 | 24,975 | 1,985,762 | (250) | ||||||||||||
|
|
|
|||||||||||||||||
| $ | 3,747,032 | $ | 32,498 | |||||||||||||||
|
|
|
|||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion PLTR Defined Income Boost ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 9.9% |
||||||||
| Professional, Scientific, and Technical Services - 9.9% |
||||||||
| 1,600 | Palantir Technologies, Inc. (a) | $ | 196,896 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $197,662) | $ | 196,896 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 90.3% |
||||||||
| 292,363 | Dreyfus Government Cash Management Institutional Shares, 3.56% (b) | $ | 292,363 | |||||
| 1,510,000 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (b) | 1,510,000 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $1,802,363) | $ | 1,802,363 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $2,000,025) - 100.2% (c) | $ | 1,999,259 | ||||||
| Liabilities in Excess of Other Assets - (0.2)% | (4,457) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 1,994,802 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | Represents annualized seven-day yield at July 31, 2026. |
| (c) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $1,510,000. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
|
Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||
| Total return of common shares of Palantir Technologies, Inc. |
SOFR + 0.9000% | Goldman Sachs | 12/10/2026 | 14,609 | $ | 1,804,524 | $ | (7,429) | ||||||||||
| Total return of Cboe PLTR Defined Income Index |
SOFR + 0.0000% | Goldman Sachs | 12/10/2026 | 18,800 | 1,980,592 | 2,432 | ||||||||||||
|
|
|
|||||||||||||||||
| $ | 3,785,116 | $ | (4,997) | |||||||||||||||
|
|
|
|||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion TSLA Defined Income Boost ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 11.5% |
||||||||
| Transportation Equipment Manufacturing - 11.5% |
||||||||
| 750 | Tesla, Inc. (a) | $ | 233,408 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $230,587) | $ | 233,408 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 87.4% |
||||||||
| 189,438 | Dreyfus Government Cash Management Institutional Shares, 3.56% (b) | $ | 189,438 | |||||
| 1,580,000 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (b) | 1,580,000 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $1,769,438) | $ | 1,769,438 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $2,000,025) - 98.9% (c) | $ | 2,002,846 | ||||||
| Other Assets in Excess of Liabilities - 1.1% | 22,434 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 2,025,280 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | Represents annualized seven-day yield at July 31, 2026. |
| (c) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $1,580,000. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
|
Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||
| Total return of common shares of Tesla, Inc. |
SOFR + 0.9000% | Goldman Sachs | 12/10/2026 | 5,715 | $ | 1,757,020 | $ | 20,840 | ||||||||||
| Total return of Cboe TSLA Defined Income Index |
SOFR + 0.0000% | Goldman Sachs | 12/10/2026 | 25,585 | 2,010,213 | (256) | ||||||||||||
|
|
|
|||||||||||||||||
| $ | 3,767,233 | $ | 20,584 | |||||||||||||||
|
|
|
|||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily AAPL Bear 1X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 53.0% |
||||||||
| Money Market Funds - 53.0% |
||||||||
| 20,253,531 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 20,253,531 | |||||
| 1,075,446 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 1,075,446 | ||||||
| 550,001 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 550,001 | ||||||
| 9,417,977 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 9,417,977 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $31,296,955) (b) | $ | 31,296,955 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $31,296,955) - 53.0% | $ | 31,296,955 | ||||||
| Other Assets in Excess of Liabilities - 47.0% | 27,790,716 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 59,087,671 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $11,636,842. |
| Short Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
|
Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||
| SOFR + (0.7500)% |
Total return of common shares of Apple, Inc. | BNP Paribas | 12/4/2026 | 3,387 | $ | 945,793 | $ | (87,551) | ||||||||||
| SOFR + 1.0300% |
Total return of common shares of Apple, Inc. | Goldman Sachs | 12/10/2026 | 56,973 | 17,426,519 | (153,007) | ||||||||||||
| SOFR + (1.0000)% |
Total return of common shares of Apple, Inc. | Bank of America Merrill Lynch | 12/11/2026 | 22,034 | 7,388,593 | 587,192 | ||||||||||||
| SOFR + (2.0000)% |
Total return of common shares of Apple, Inc. | Citibank N.A. | 12/22/2026 | 55,836 | 18,253,372 | 1,016,328 | ||||||||||||
| SOFR + 2.1500% |
Total return of common shares of Apple, Inc. | Barclays | 12/22/2026 | 53,056 | 16,304,051 | (81,050) | ||||||||||||
|
|
|
|||||||||||||||||
| $ | 60,318,328 | $ | 1,281,912 | |||||||||||||||
|
|
|
|||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily AAPL Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 12.0% |
||||||||
| Computer and Electronic Product Manufacturing - 12.0% |
||||||||
| 63,853 | Apple, Inc. | $ | 19,724,830 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $17,084,335) | $ | 19,724,830 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 99.1% |
||||||||
| 60,792,497 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 60,792,497 | |||||
| 77,204,442 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 77,204,442 | ||||||
| 18,990,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 18,990,000 | ||||||
| 5,574,160 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 5,574,160 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $162,561,099) | $ | 162,561,099 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $179,645,434) - 111.1% (b) | $ | 182,285,929 | ||||||
| Liabilities in Excess of Other Assets - (11.1)% | (18,275,171) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 164,010,758 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $105,532,380. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
|
Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||
| Total return of common shares of Apple, Inc. |
SOFR + 2.9000% | BNP Paribas | 12/04/2026 | 17,305 | $ | 4,800,005 | $ | 376,909 | ||||||||||
| Total return of common shares of Apple, Inc. |
SOFR + 2.5000% | Goldman Sachs | 12/10/2026 | 731,426 | 243,879,371 | (17,978,649) | ||||||||||||
| Total return of common shares of Apple, Inc. |
SOFR + 2.8500% | Bank of America Merrill Lynch | 12/11/2026 | 32,577 | 9,467,974 | 509,320 | ||||||||||||
| Total return of common shares of Apple, Inc. |
SOFR + 3.0000% | UBS Securities LLC | 12/17/2026 | 8,000 | 2,022,965 | 399,499 | ||||||||||||
| Total return of common shares of Apple, Inc. |
SOFR + 3.2500% | Citibank N.A. | 12/22/2026 | 18,679 | 5,442,155 | 294,198 | ||||||||||||
| Total return of common shares of Apple, Inc. |
SOFR + 2.2500% | Barclays | 12/22/2026 | 189,880 | 48,595,975 | 8,659,604 | ||||||||||||
|
|
|
|||||||||||||||||
| $ | 314,208,445 | $ | (7,739,119) | |||||||||||||||
|
|
|
|||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily ADBE Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 11.8% |
||||||||
| Publishing Industries - 11.8% |
||||||||
| 1,991 | Adobe, Inc. (a) | $ | 498,566 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $474,118) | $ | 498,566 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 111.1% |
||||||||
| 1,759,616 | Dreyfus Government Cash Management Institutional Shares, 3.56% (b) | $ | 1,759,616 | |||||
| 1,627,138 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (b) | 1,627,138 | ||||||
| 1,315,000 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (b) | 1,315,000 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $4,701,754) | $ | 4,701,754 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $5,175,872) - 122.9% (c) | $ | 5,200,320 | ||||||
| Liabilities in Excess of Other Assets - (22.9)% | (969,347) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 4,230,973 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | Represents annualized seven-day yield at July 31, 2026. |
| (c) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $4,462,138. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
|
Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||
| Total return of common shares of Adobe, Inc. |
SOFR + 3.5000% | Goldman Sachs | 12/10/2026 | 6,882 | $ | 1,812,925 | $ | (90,322) | ||||||||||
| Total return of common shares of Adobe, Inc. |
SOFR + 3.5000% | Bank of America Merrill Lynch | 12/11/2026 | 14,115 | 3,534,537 | (26,570) | ||||||||||||
| Total return of common shares of Adobe, Inc. |
SOFR + 3.2500% | Nomura | 12/11/2026 | 10,801 | 2,677,568 | 26,381 | ||||||||||||
|
|
|
|||||||||||||||||
| $ | 8,025,030 | $ | (90,511) | |||||||||||||||
|
|
|
|||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily AI and Big Data Bear 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 108.5% |
||||||||
| Money Market Funds - 108.5% |
||||||||
| 4,261,405 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 4,261,405 | |||||
| 1,657,080 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 1,657,080 | ||||||
| 1,260,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 1,260,000 | ||||||
| 907,221 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 907,221 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $8,085,706) (b) | $ | 8,085,706 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $8,085,706) - 108.5% | $ | 8,085,706 | ||||||
| Liabilities in Excess of Other Assets - (8.5)% | (636,241) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 7,449,465 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $3,824,301. |
| Short Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
|
Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||
| SOFR + 0.6000% |
Total return of Solactive US AI & Big Data Index | Barclays | 12/22/2026 | 1,127 | $ | 6,493,644 | $ | (162,148) | ||||||||||
| SOFR + 0.4500% |
Total return of Solactive US AI & Big Data Index | Goldman Sachs | 4/14/2027 | 743 | 4,584,568 | 217,724 | ||||||||||||
| SOFR + 0.6500% |
Total return of Solactive US AI & Big Data Index | J.P. Morgan | 6/28/2027 | 650 | 4,022,265 | 209,475 | ||||||||||||
|
|
|
|||||||||||||||||
| $ | 15,100,477 | $ | 265,051 | |||||||||||||||
|
|
|
|||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily AI and Big Data Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 77.2% |
||||||||
| Administrative and Support Services - 0.2% |
||||||||
| 1,803 | nCino, Inc. (a) | $ | 33,283 | |||||
|
|
|
| ||||||
| Computer and Electronic Product Manufacturing - 39.5% |
||||||||
| 1,588 | Advanced Micro Devices, Inc. (a) | 756,126 | ||||||
| 3,784 | Alphabet, Inc. | 1,347,596 | ||||||
| 722 | Ambarella, Inc. ADR (a) | 62,092 | ||||||
| 3,932 | Apple, Inc. | 1,214,634 | ||||||
| 2,123 | Broadcom, Inc. | 826,442 | ||||||
| 8,285 | Intel Corp. (a) | 747,307 | ||||||
| 3,702 | International Business Machines Corp. | 827,952 | ||||||
| 8,935 | Microchip Technology, Inc. | 663,781 | ||||||
| 6,471 | NVIDIA Corp. | 1,299,053 | ||||||
| 3,294 | Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) ADR | 1,331,600 | ||||||
|
|
|
| ||||||
| 9,076,583 | ||||||||
|
|
|
| ||||||
| Data Processing, Hosting and Related Services - 0.6% |
||||||||
| 2,872 | Tempus AI, Inc. (a) | 125,995 | ||||||
|
|
|
| ||||||
| General Merchandise Retailers - 6.3% |
||||||||
| 5,308 | Amazon.com, Inc. (a) | 1,441,547 | ||||||
| 6,563 | Rezolve AI PLC ADR (a)(b) | 15,948 | ||||||
|
|
|
| ||||||
| 1,457,495 | ||||||||
|
|
|
| ||||||
| Professional, Scientific, and Technical Services - 16.2% |
||||||||
| 7,365 | CoreWeave, Inc. (a)(b) | 528,586 | ||||||
| 537 | Innodata, Inc. (a) | 33,740 | ||||||
| 1,219 | Meta Platforms, Inc. | 678,630 | ||||||
| 6,229 | Oracle Corp. | 808,960 | ||||||
| 1,179 | Pagaya Technologies Ltd. ADR (Israel) (a) | 22,719 | ||||||
| 5,948 | Palantir Technologies, Inc. (a) | 731,961 | ||||||
| 843 | Penguin Solutions, Inc. (a)(b) | 44,367 | ||||||
| 2,928 | Snowflake, Inc. (a) | 858,724 | ||||||
| 635 | WhiteFiber, Inc. ADR (a) | 15,049 | ||||||
|
|
|
| ||||||
| 3,722,736 | ||||||||
|
|
|
| ||||||
| Publishing Industries - 14.2% |
||||||||
| 7,881 | BigBear.ai Holdings, Inc. (a)(b) | 21,988 | ||||||
| 2,500 | C3.ai, Inc. (a) | 22,950 | ||||||
| 17,184 | Hewlett Packard Enterprise Co. | 823,114 | ||||||
| 3,332 | Microsoft Corp. | 1,548,447 | ||||||
| 6,634 | SoundHound AI, Inc. (a)(b) | 40,666 | ||||||
| 2,049 | Synopsys, Inc. (a) | 796,569 | ||||||
|
|
|
| ||||||
| 3,253,734 | ||||||||
|
|
|
| ||||||
| Transportation Equipment Manufacturing - 0.2% |
||||||||
| 5,800 | Pony AI, Inc. ADR (China) (a)(b) | 45,646 | ||||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $13,767,576) | $ | 17,715,472 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 21.6% |
||||||||
| Money Market Funds - 21.6% |
||||||||
| 3,527,285 | Dreyfus Government Cash Management Institutional Shares, 3.56% (c)(d) | $ | 3,527,285 | |||||
| 270,000 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (c) | 270,000 | ||||||
| 83,063 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (c) | 83,063 | ||||||
| 1,088,711 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (c) | 1,088,711 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $4,969,059) | $ | 4,969,059 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $18,736,635) - 98.8% (e) | $ | 22,684,531 | ||||||
| Other Assets in Excess of Liabilities - 1.2% | 274,661 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 22,959,192 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | A portion of this security represents a security on loan. |
| (c) | Represents annualized seven-day yield at July 31, 2026. |
| (d) | All or a portion of this security represents an investment of securities lending collateral. |
| (e) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $13,499,058. |
ADR - American Depository Receipt
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation | ||||||||||||||
| Total return of Solactive US AI & Big Data Index |
SOFR + 0.7000% | Goldman Sachs | 12/10/2026 | 1,772 | $ | 10,211,674 | $ | 216,669 | ||||||||||||
| Total return of Solactive US AI & Big Data Index |
SOFR + 0.8000% | Bank of America Merrill Lynch | 12/11/2026 | 1,673 | 8,889,195 | 824,748 | ||||||||||||||
| Total return of Solactive US AI & Big Data Index |
SOFR + 0.8500% | Citibank N.A. | 12/22/2026 | 566 | 2,939,617 | 349,287 | ||||||||||||||
| Total return of Solactive US AI & Big Data Index |
SOFR + 1.0800% | Barclays | 12/22/2026 | 761 | 3,974,376 | 429,109 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 26,014,862 | $ | 1,819,813 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily AMD Bear 1X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 103.1% |
||||||||
| Money Market Funds - 103.1% |
||||||||
| 10,821,111 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 10,821,111 | |||||
| 2,725,142 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 2,725,142 | ||||||
| 960,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 960,000 | ||||||
| 2,441,607 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 2,441,607 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $16,947,860) (b) | $ | 16,947,860 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $16,947,860) - 103.1% | $ | 16,947,860 | ||||||
| Liabilities in Excess of Other Assets - (3.1)% | (508,859) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 16,439,001 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $8,697,751. |
| Short Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) | ||||||||||||||
| SOFR + 1.4000% |
Total return of common shares of Advanced Micro Devices, Inc. | Goldman Sachs | 12/10/2026 | 6,982 | $ | 3,723,220 | $ | 419,056 | ||||||||||||
| SOFR + (1.0000)% |
Total return of common shares of Advanced Micro Devices, Inc. | Bank of America Merrill Lynch | 12/11/2026 | 6,955 | 3,502,198 | 203,040 | ||||||||||||||
| SOFR + (2.0000)% |
Total return of common shares of Advanced Micro Devices, Inc. | Nomura | 12/11/2026 | 8,321 | 3,940,379 | (13,393 | ) | |||||||||||||
| SOFR + (2.0000)% |
Total return of common shares of Advanced Micro Devices, Inc. | Citibank N.A. | 12/22/2026 | 6,562 | 3,397,881 | 278,368 | ||||||||||||||
| SOFR + 2.1500% |
Total return of common shares of Advanced Micro Devices, Inc. | Barclays | 12/22/2026 | 5,701 | 3,018,591 | 308,881 | ||||||||||||||
|
|
|
| ||||||||||||||||||
| $ | 17,582,269 | $ | 1,195,952 | |||||||||||||||||
|
|
|
| ||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily AMD Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 17.2% |
||||||||
| Computer and Electronic Product Manufacturing - 17.2% |
||||||||
| 29,699 | Advanced Micro Devices, Inc. (a) | $ | 14,141,179 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $9,462,285) | $ | 14,141,179 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 135.8% |
||||||||
| 72,103,499 | Dreyfus Government Cash Management Institutional Shares, 3.56% (b) | $ | 72,103,499 | |||||
| 18,331,194 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (b) | 18,331,194 | ||||||
| 2,890,004 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (b) | 2,890,004 | ||||||
| 18,015,658 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (b) | 18,015,658 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $111,340,355) | $ | 111,340,355 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $120,802,640) - 153.0% (c) | $ | 125,481,534 | ||||||
| Liabilities in Excess of Other Assets - (53.0)% | (43,472,546) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 82,008,988 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | Represents annualized seven-day yield at July 31, 2026. |
| (c) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $61,491,542. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount |
Unrealized Appreciation (Depreciation) | ||||||||||||||
| Total return of common shares of Advanced Micro Devices, Inc. |
SOFR + 2.9000% | BNP Paribas | 12/04/2026 | 18,247 | $ | 7,678,471 | $ | 895,650 | ||||||||||||
| Total return of common shares of Advanced Micro Devices, Inc. |
SOFR + 2.8000% | Goldman Sachs | 12/10/2026 | 94,435 | 45,837,805 | (880,818 | ) | |||||||||||||
| Total return of common shares of Advanced Micro Devices, Inc. |
SOFR + 2.8500% | Bank of America Merrill Lynch | 12/11/2026 | 50,343 | 24,435,989 | (470,224 | ) | |||||||||||||
| Total return of common shares of Advanced Micro Devices, Inc. |
SOFR + 3.7500% | Nomura | 12/11/2026 | 91,819 | 44,570,659 | (860,243 | ) | |||||||||||||
| Total return of common shares of Advanced Micro Devices, Inc. |
SOFR + 3.7500% | Citibank N.A. | 12/22/2026 | 39,992 | 19,411,716 | (373,534 | ) | |||||||||||||
| Total return of common shares of Advanced Micro Devices, Inc. |
SOFR + 2.8600% | Barclays | 12/22/2026 | 19,835 | 8,664,034 | 712,102 | ||||||||||||||
|
|
|
| ||||||||||||||||||
| $ | 150,598,674 | $ | (977,067 | ) | ||||||||||||||||
|
|
|
| ||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily AMZN Bear 1X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 68.7% |
||||||||
| Money Market Funds - 68.7% |
||||||||
| 4,654,660 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 4,654,660 | |||||
| 2,386,523 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 2,386,523 | ||||||
| 1,576,334 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 1,576,334 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $8,617,517) (b) | $ | 8,617,517 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $8,617,517) - 68.7% | $ | 8,617,517 | ||||||
| Other Assets in Excess of Liabilities - 31.3% | 3,930,228 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 12,547,745 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $3,962,858. |
| Short Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) | ||||||||||||||
| SOFR + 1.0300% |
Total return of common shares of Amazon.com, Inc. | Goldman Sachs | 12/10/2026 | 27,475 | $ | 7,069,591 | $ | (374,751 | ) | |||||||||||
| SOFR + (1.1500)% |
Total return of common shares of Amazon.com, Inc. | Bank of America Merrill Lynch | 12/11/2026 | 2,000 | 549,898 | 9,970 | ||||||||||||||
| SOFR + (2.0000)% |
Total return of common shares of Amazon.com, Inc. | Citibank N.A. | 12/22/2026 | 16,725 | 4,261,218 | (270,008 | ) | |||||||||||||
|
|
|
| ||||||||||||||||||
| $ | 11,880,707 | $ | (634,789 | ) | ||||||||||||||||
|
|
|
| ||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily AMZN Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 6.8% |
||||||||
| General Merchandise Retailers - 6.8% |
||||||||
| 95,254 | Amazon.com, Inc. (a) | $ | 25,869,082 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $19,909,416) | $ | 25,869,082 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 71.0% |
||||||||
| 59,599,139 | Dreyfus Government Cash Management Institutional Shares, 3.56% (b) | $ | 59,599,139 | |||||
| 41,526,922 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (b) | 41,526,922 | ||||||
| 67,190,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (b) | 67,190,000 | ||||||
| 101,693,952 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (b) | 101,693,952 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $270,010,013) | $ | 270,010,013 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $289,919,429) - 77.8% (c) | $ | 295,879,095 | ||||||
| Other Assets in Excess of Liabilities - 22.2% | 84,343,851 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 380,222,946 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | Represents annualized seven-day yield at July 31, 2026. |
| (c) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $236,279,956. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation | ||||||||||||||
| Total return of common shares of Amazon.com, Inc. |
SOFR + 3.1000% | Bank of America Merrill Lynch | 12/11/2026 | 616,109 | $ | 163,595,720 | $ | 1,210,305 | ||||||||||||
| Total return of common shares of Amazon.com, Inc. |
SOFR + 3.7500% | Citibank N.A. | 12/22/2026 | 388,437 | 90,758,305 | 12,651,674 | ||||||||||||||
| Total return of common shares of Amazon.com, Inc. |
SOFR + 3.0000% | Barclays | 12/22/2026 | 800,000 | 193,840,133 | 18,165,280 | ||||||||||||||
| Total return of common shares of Amazon.com, Inc. |
SOFR + 2.5000% | Goldman Sachs | 5/25/2027 | 900,201 | 227,943,537 | 16,119,373 | ||||||||||||||
|
|
|
| ||||||||||||||||||
| $ | 676,137,695 | $ | 48,146,632 | |||||||||||||||||
|
|
|
| ||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily ASML Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 10.0% |
||||||||
| Machinery Manufacturing - 10.0% |
||||||||
| 970 | ASML Holding NV ADR (Netherlands) | $ | 1,580,130 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $1,678,551) | $ | 1,580,130 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 95.2% |
||||||||
| 4,669,129 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 4,669,129 | |||||
| 3,369,385 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 3,369,385 | ||||||
| 760,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 760,000 | ||||||
| 6,291,470 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 6,291,470 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $15,089,984) | $ | 15,089,984 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $16,768,535) - 105.2% (b) | $ | 16,670,114 | ||||||
| Liabilities in Excess of Other Assets - (5.2)% | (813,769) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 15,856,345 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $11,701,106. |
ADR - American Depository Receipt
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) | ||||||||||||||
| Total return of common shares of ASML Holding NV ADR |
SOFR + 3.5000% | Bank of America Merrill Lynch | 12/11/2026 | 7,279 | $ | 13,135,881 | $ | (1,313,683 | ) | |||||||||||
| Total return of common shares of ASML Holding NV ADR |
SOFR + 3.7500% | Nomura | 12/11/2026 | 1,933 | 3,097,133 | 11,751 | ||||||||||||||
| Total return of common shares of ASML Holding NV ADR |
SOFR + 3.5000% | Citibank N.A. | 12/22/2026 | 2,961 | 4,317,638 | 430,647 | ||||||||||||||
| Total return of common shares of ASML Holding NV ADR |
SOFR + 4.2500% | Barclays | 12/22/2026 | 1,601 | 2,480,965 | 71,047 | ||||||||||||||
| Total return of common shares of ASML Holding NV ADR |
SOFR + 3.0000% | Goldman Sachs | 3/11/2027 | 4,721 | 6,676,633 | 896,986 | ||||||||||||||
|
|
|
| ||||||||||||||||||
| $ | 29,708,250 | $ | 96,748 | |||||||||||||||||
|
|
|
| ||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily AVGO Bear 1X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 100.5% |
||||||||
| Money Market Funds - 100.5% |
||||||||
| 4,222,675 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 4,222,675 | |||||
| 680,490 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 680,490 | ||||||
| 479,717 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 479,717 | ||||||
| 1,271,840 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 1,271,840 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $6,654,722) (b) | $ | 6,654,722 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $6,654,722) - 100.5% | $ | 6,654,722 | ||||||
| Liabilities in Excess of Other Assets - (0.5)% | (33,781) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 6,620,941 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $2,432,047. |
| Short Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation |
||||||||||||||
| SOFR + 1.6500% |
Total return of common shares of Broadcom Inc. | Goldman Sachs | 12/10/2026 | 4,178 | $ | 1,707,813 | $ | 90,928 | ||||||||||||
| SOFR + (1.0000)% |
Total return of common shares of Broadcom Inc. | Bank of America Merrill Lynch | 12/11/2026 | 4,688 | 2,246,630 | 428,124 | ||||||||||||||
| SOFR + (2.0000)% |
Total return of common shares of Broadcom Inc. | Citibank N.A. | 12/22/2026 | 3,824 | 1,549,073 | 62,970 | ||||||||||||||
| SOFR + 2.1500% |
Total return of common shares of Broadcom Inc. | Barclays | 12/22/2026 | 4,316 | 1,647,250 | (36,645) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 7,150,766 | $ | 545,377 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily AVGO Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 17.8% |
||||||||
| Computer and Electronic Product Manufacturing - 17.8% |
||||||||
| 85,738 | Broadcom Inc. | $ | 33,376,089 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $28,298,163) | $ | 33,376,089 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 96.1% |
||||||||
| 45,680,203 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 45,680,203 | |||||
| 42,818,745 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 42,818,745 | ||||||
| 20,870,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 20,870,000 | ||||||
| 71,070,958 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 71,070,958 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $180,439,906) | $ | 180,439,906 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $208,738,069) - 113.9% (b) | $ | 213,815,995 | ||||||
| Liabilities in Excess of Other Assets - (13.9)% | (26,040,923) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 187,775,072 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $159,799,081. |
| Long Total Return Swap Contracts (Unaudited) |
July 31, 2026
|
Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) | ||||||||||||||
| Total return of common shares of Broadcom Inc. |
SOFR + 2.9900% | Goldman Sachs | 12/10/2026 | 245,832 | $ | 94,346,728 | $ | 919,773 | ||||||||||||
| Total return of common shares of Broadcom Inc. |
SOFR + 3.0000% | Bank of America Merrill Lynch | 12/11/2026 | 269,414 | 121,880,509 | (18,214,668) | ||||||||||||||
| Total return of common shares of Broadcom Inc. |
SOFR + 3.0000% | Nomura | 12/11/2026 | 137,656 | 55,239,969 | (3,482,157) | ||||||||||||||
| Total return of common shares of Broadcom Inc. |
SOFR + 3.7500% | Citibank N.A. | 12/22/2026 | 74,394 | 27,620,425 | 792,795 | ||||||||||||||
| Total return of common shares of Broadcom Inc. |
SOFR + 2.9900% | Barclays | 12/22/2026 | 151,560 | 61,203,855 | (2,851,253) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 360,291,486 | $ | (22,835,510) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily BA Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 16.7% |
||||||||
| Transportation Equipment Manufacturing - 16.7% |
||||||||
| 16,633 | Boeing Co. (a) | $ | 3,595,057 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $3,540,898) | $ | 3,595,057 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 87.7% |
||||||||
| 2,613,387 | Dreyfus Government Cash Management Institutional Shares, 3.56% (b) | $ | 2,613,387 | |||||
| 11,083,691 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (b) | 11,083,691 | ||||||
| 1,090,001 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (b) | 1,090,001 | ||||||
| 4,098,325 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (b) | 4,098,325 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $18,885,404) | $ | 18,885,404 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $22,426,302) - 104.4% (c) | $ | 22,480,461 | ||||||
| Liabilities in Excess of Other Assets - (4.4)% | (936,608) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 21,543,853 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | Represents annualized seven-day yield at July 31, 2026. |
| (c) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $17,247,766. |
| Long Total Return Swap Contracts (Unaudited) |
July 31, 2026
|
Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) | ||||||||||||||
| Total return of common shares of Boeing Co. |
SOFR + 2.7300% | Goldman Sachs | 12/10/2026 | 107,240 | $ | 23,695,159 | $ | (760,006) | ||||||||||||
| Total return of common shares of Boeing Co. |
SOFR + 2.8500% | Bank of America Merrill Lynch | 12/11/2026 | 36,033 | 7,715,284 | (65,125) | ||||||||||||||
| Total return of common shares of Boeing Co. |
SOFR + 2.8500% | Nomura | 12/11/2026 | 11,588 | 2,302,767 | 105,052 | ||||||||||||||
| Total return of common shares of Boeing Co. |
SOFR + 3.7500% | Citibank N.A. | 12/22/2026 | 11,234 | 2,501,826 | (182,635) | ||||||||||||||
| Total return of common shares of Boeing Co. |
SOFR + 2.8700% | Barclays | 12/22/2026 | 16,601 | 3,418,104 | 94,631 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 39,633,140 | $ | (808,083) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily BABA Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 0.2% |
||||||||
| Management of Companies and Enterprises - 0.2% |
||||||||
| 100 | Alibaba Group Holding Ltd. ADR (China) | $ | 12,225 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $9,507) | $ | 12,225 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 83.1% |
||||||||
| 565,245 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 565,245 | |||||
| 92,497 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 92,497 | ||||||
| 370,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 370,000 | ||||||
| 4,379,788 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 4,379,788 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $5,407,530) | $ | 5,407,530 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $5,417,037) - 83.3% (b) | $ | 5,419,755 | ||||||
| Other Assets in Excess of Liabilities - 16.7% | 1,087,166 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 6,506,921 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $4,842,285. |
ADR - American Depository Receipt
| Long Total Return Swap Contracts (Unaudited) |
July 31, 2026
|
Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation | ||||||||||||||
| Total return of common shares of Alibaba Group Holding Ltd. |
SOFR + 3.0000% | Bank of America Merrill Lynch | 12/11/2026 | 76,143 | $ | 8,143,657 | $ | 1,123,409 | ||||||||||||
| Total return of common shares of Alibaba Group Holding Ltd. |
SOFR + 3.7500% | Citibank N.A. | 12/22/2026 | 17,792 | 2,140,536 | 32,758 | ||||||||||||||
| Total return of common shares of Alibaba Group Holding Ltd. |
SOFR + 4.2500% | Barclays | 12/22/2026 | 10,652 | 1,014,415 | 279,895 | ||||||||||||||
| Total return of common shares of Alibaba Group Holding Ltd. |
SOFR + 3.5000% | Goldman Sachs | 3/11/2027 | 1,759 | 206,706 | 7,716 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 11,505,314 | $ | 1,443,778 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Biotech Top 5 Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 39.4% |
||||||||
| Chemical Manufacturing - 32.4% |
||||||||
| 530 | Amgen, Inc. | $ | 204,135 | |||||
| 1,495 | Gilead Sciences, Inc. | 194,664 | ||||||
| 306 | Regeneron Pharmaceuticals, Inc. | 233,365 | ||||||
| 422 | Vertex Pharmaceuticals, Inc. (a) | 201,336 | ||||||
|
|
|
| ||||||
| 833,500 | ||||||||
|
|
|
| ||||||
| Miscellaneous Manufacturing - 7.0% |
||||||||
| 210 | Argenx SE ADR (Netherlands) (a) | 179,302 | ||||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $880,726) | $ | 1,012,802 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 57.2% |
||||||||
| Money Market Funds - 57.2% |
||||||||
| 555,863 | Dreyfus Government Cash Management Institutional Shares, 3.56% (b) | $ | 555,863 | |||||
| 160,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (b) | 160,000 | ||||||
| 754,079 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (b) | 754,079 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $1,469,942) | $ | 1,469,942 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $2,350,668) - 96.6% (c) | $ | 2,482,744 | ||||||
| Other Assets in Excess of Liabilities - 3.4% | 85,578 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 2,568,322 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | Represents annualized seven-day yield at July 31, 2026. |
| (c) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $1,211,419. |
ADR - American Depository Receipt
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation |
||||||||||||||
| Total return of NYSE Biotechnology Top 5 Equal Weight Index |
SOFR + 0.8400% | Citibank N.A. | 12/22/2026 | 11,353 | $ | 2,937,587 | $ | 15,897 | ||||||||||||
| Total return of NYSE Biotechnology Top 5 Equal Weight Index |
SOFR + 1.0000% | Barclays | 12/22/2026 | 4,494 | 1,087,053 | 72,655 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 4,024,640 | $ | 88,552 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Bitcoin Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 112.7% |
||||||||
| Money Market Funds - 112.7% |
||||||||
| 925,009 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 925,009 | |||||
| 531,736 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 531,736 | ||||||
| 380,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 380,000 | ||||||
| 2,741,816 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 2,741,816 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $4,578,561) (b) | $ | 4,578,561 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $4,578,561) - 112.7% | $ | 4,578,561 | ||||||
| Liabilities in Excess of Other Assets - (12.7)% | (516,422) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 4,062,139 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $3,653,552. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| Total return of iShares Bitcoin Trust |
SOFR + 3.5000% | Bank of America Merrill Lynch | 12/11/2026 | 43,746 | $ | 1,534,969 | $ | 16,254 | ||||||||||||
| Total return of iShares Bitcoin Trust |
SOFR + 3.0000% | Citibank N.A. | 12/22/2026 | 150,492 | 5,399,509 | (71,584) | ||||||||||||||
| Total return of iShares Bitcoin Trust |
SOFR + 4.5000% | Barclays | 12/22/2026 | 15,456 | 664,553 | (123,598) | ||||||||||||||
| Total return of iShares Bitcoin Trust |
SOFR + 3.5000% | Goldman Sachs | 6/29/2027 | 18,224 | 783,606 | (144,335) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 8,382,637 | $ | (323,263) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily BRKB Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 10.9% |
||||||||
| Insurance Carriers and Related Activities - 10.9% |
||||||||
| 8,723 | Berkshire Hathaway, Inc. Class B (a) | $ | 4,462,164 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $4,130,476) | $ | 4,462,164 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 91.0% |
||||||||
| 9,513,448 | Dreyfus Government Cash Management Institutional Shares, 3.56% (b) | $ | 9,513,448 | |||||
| 23,448,845 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (b) | 23,448,845 | ||||||
| 770,004 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (b) | 770,004 | ||||||
| 3,643,135 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (b) | 3,643,135 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $37,375,432) | $ | 37,375,432 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $41,505,908) - 101.9% (c) | $ | 41,837,596 | ||||||
| Liabilities in Excess of Other Assets - (1.9)% | (752,812) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 41,084,784 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | Represents annualized seven-day yield at July 31, 2026. |
| (c) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $27,861,983. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| Total return of common shares of Berkshire Hathaway, Inc. Class B | SOFR + 2.4900% | Goldman Sachs | 12/10/2026 | 130,778 | $ | 62,355,807 | $ | 3,407,536 | ||||||||||||
| Total return of common shares of Berkshire Hathaway, Inc. Class B | SOFR + 2.7500% | Bank of America Merrill Lynch | 12/11/2026 | 14,198 | 7,038,945 | (60,201) | ||||||||||||||
| Total return of common shares of Berkshire Hathaway, Inc. Class B | SOFR + 3.2500% | Citibank N.A. | 12/22/2026 | 1,639 | 810,534 | (6,559) | ||||||||||||||
| Total return of common shares of Berkshire Hathaway, Inc. Class B | SOFR + 2.9900% | Barclays | 12/22/2026 | 5,274 | 2,539,575 | 126,231 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 72,744,861 | $ | 3,467,007 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily COIN Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 20.1% |
||||||||
| Credit Intermediation and Related Activities - 20.1% |
||||||||
| 4,180 | Coinbase Global, Inc. (a) | $ | 611,367 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $774,531) | $ | 611,367 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 165.5% |
||||||||
| 764,114 | Dreyfus Government Cash Management Institutional Shares, 3.56% (b) | $ | 764,114 | |||||
| 820,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (b) | 820,000 | ||||||
| 3,438,155 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (b) | 3,438,155 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $5,022,269) | $ | 5,022,269 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $5,796,800) - 185.6% (c) | $ | 5,633,636 | ||||||
| Liabilities in Excess of Other Assets - (85.6)% | (2,599,005) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 3,034,631 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
(a) Non-income producing security.
(b) Represents annualized seven-day yield at July 31, 2026.
(c) All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $4,258,156.
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Depreciation |
||||||||||||||
| Total return of common shares of Coinbase Global, Inc. | SOFR + 6.0000% | Goldman Sachs | 12/10/2026 | 100 | $ | 14,112 | $ | (123) | ||||||||||||
| Total return of common shares of Coinbase Global, Inc. | SOFR + 4.5000% | Bank of America Merrill Lynch | 12/11/2026 | 21,297 | 3,409,493 | (351,925) | ||||||||||||||
| Total return of common shares of Coinbase Global, Inc. | SOFR + 6.0000% | Citibank N.A. | 12/22/2026 | 1,994 | 370,807 | (89,260) | ||||||||||||||
| Total return of common shares of Coinbase Global, Inc. | SOFR + 5.5000% | Barclays | 12/22/2026 | 13,922 | 2,284,922 | (302,979) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 6,079,334 | $ | (744,287) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily CSCO Bear 1X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 117.0% |
||||||||
| Money Market Funds - 117.0% |
||||||||
| 1,109,499 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 1,109,499 | |||||
| 301,015 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 301,015 | ||||||
| 533,246 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 533,246 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $1,943,760) (b) | $ | 1,943,760 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $1,943,760) - 117.0% | $ | 1,943,760 | ||||||
| Liabilities in Excess of Other Assets - (17.0)% | (283,116) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 1,660,644 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $834,261. |
| Short Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||
| SOFR + 0.0000% |
Total return of common shares of Cisco Systems, Inc. | Goldman Sachs | 12/10/2026 | 3,104 | $ | 369,630 | $ | 10,304 | ||||||||||
| SOFR + 0.0000% |
Total return of common shares of Cisco Systems, Inc. | Bank of America Merrill Lynch | 12/11/2026 | 3,746 | 302,828 | (129,392) | ||||||||||||
| SOFR + (2.0000)% |
Total return of common shares of Cisco Systems, Inc. | Citibank N.A. | 12/22/2026 | 5,315 | 521,904 | (96,292) | ||||||||||||
| SOFR + 1.5000% |
Total return of common shares of Cisco Systems, Inc. | Barclays | 12/22/2026 | 2,150 | 198,143 | (49,749) | ||||||||||||
|
|
|
|||||||||||||||||
| $ | 1,392,505 | $ | (265,129) | |||||||||||||||
|
|
|
|||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily CSCO Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 9.4% |
||||||||
| Computer and Electronic Product Manufacturing - 9.4% |
||||||||
| 12,092 | Cisco Systems, Inc. | $ | 1,402,551 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $1,183,729) | $ | 1,402,551 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 80.5% |
||||||||
| 4,658,079 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 4,658,079 | |||||
| 3,396,146 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 3,396,146 | ||||||
| 1,660,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 1,660,000 | ||||||
| 2,315,283 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 2,315,283 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $12,029,508) | $ | 12,029,508 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $13,213,237) - 89.9% (b) | $ | 13,432,059 | ||||||
| Other Assets in Excess of Liabilities - 10.1% | 1,515,813 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 14,947,872 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $9,191,429. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation |
||||||||||||||
| Total return of common shares of Cisco Systems, Inc. |
SOFR + 3.0000% | Goldman Sachs | 12/10/2026 | 77,368 | $ | 8,702,353 | $ | 268,007 | ||||||||||||
| Total return of common shares of Cisco Systems, Inc. |
SOFR + 3.0000% | Bank of America Merrill Lynch | 12/11/2026 | 56,838 | 5,370,679 | 1,154,052 | ||||||||||||||
| Total return of common shares of Cisco Systems, Inc. |
SOFR + 3.0000% | Nomura | 12/11/2026 | 39,466 | 4,509,956 | 43,729 | ||||||||||||||
| Total return of common shares of Cisco Systems, Inc. |
SOFR + 3.7500% | Citibank N.A. | 12/22/2026 | 9,813 | 897,889 | 227,551 | ||||||||||||||
| Total return of common shares of Cisco Systems, Inc. |
SOFR + 3.0000% | Barclays | 12/22/2026 | 62,147 | 7,039,486 | 166,970 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 26,520,363 | $ | 1,860,309 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily CSI 300 China A Share Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| INVESTMENT COMPANIES - 46.0% |
||||||||
| 1,231,054 | Deutsche Xtrackers Harvest CSI 300 China A-Shares ETF (a)(b) | $ | 42,102,047 | |||||
|
|
|
| ||||||
| TOTAL INVESTMENT COMPANIES (Cost $43,070,812) | $ | 42,102,047 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 74.7% |
||||||||
| Money Market Funds - 74.7% |
||||||||
| 42,295,146 | Dreyfus Government Cash Management Institutional Shares, 3.56% (c)(d) | $ | 42,295,146 | |||||
| 242,088 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (c) | 242,088 | ||||||
| 190,900 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (c) | 190,900 | ||||||
| 25,590,046 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (c) | 25,590,046 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $68,318,180) | $ | 68,318,180 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $111,388,992) - 120.7% (e) | $ | 110,420,227 | ||||||
| Liabilities in Excess of Other Assets - (20.7)% | (18,922,709) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 91,497,518 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Shareholders may obtain the financial statements of these investment companies at www.sec.gov. |
| (b) | A portion of this security represents a security on loan. |
| (c) | Represents annualized seven-day yield at July 31, 2026. |
| (d) | All or a portion of this security represents an investment of securities lending collateral. |
| (e) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $31,108,877. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation |
||||||||||||||
| Total return of Deutsche Xtrackers Harvest CSI 300 China A-Shares ETF |
SOFR + (0.1000)% | Goldman Sachs | 12/10/2026 | 302,796 | $ | 10,138,680 | $ | 183,823 | ||||||||||||
| Total return of Deutsche Xtrackers Harvest CSI 300 China A-Shares ETF |
SOFR + 0.0000% | J.P. Morgan | 12/16/2026 | 60,397 | 1,983,449 | 64,973 | ||||||||||||||
| Total return of Deutsche Xtrackers Harvest CSI 300 China A-Shares ETF |
SOFR + 0.9000% | UBS Securities LLC | 12/17/2026 | 48,675 | 1,601,894 | 54,426 | ||||||||||||||
| Total return of Deutsche Xtrackers Harvest CSI 300 China A-Shares ETF |
SOFR + (0.3000)% | Citibank N.A. | 12/22/2026 | 3,687,459 | 119,252,424 | 4,402,518 | ||||||||||||||
| Total return of Deutsche Xtrackers Harvest CSI 300 China A-Shares ETF |
SOFR + 0.8000% | Barclays | 12/22/2026 | 20,024 | 652,983 | 14,017 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 133,629,430 | $ | 4,719,757 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily CSI China Internet Index Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| INVESTMENT COMPANIES - 53.6% |
||||||||
| 4,797,352 | KraneShares CSI China Internet ETF (a) | $ | 136,676,559 | |||||
|
|
|
| ||||||
| TOTAL INVESTMENT COMPANIES (Cost $141,466,837) | $ | 136,676,559 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 54.1% |
||||||||
| Money Market Funds - 54.1% |
||||||||
| 62,060,837 | Dreyfus Government Cash Management Institutional Shares, 3.56% (b) | $ | 62,060,837 | |||||
| 28,932,975 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (b) | 28,932,975 | ||||||
| 47,157,866 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (b) | 47,157,866 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $138,151,678) | $ | 138,151,678 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $279,618,515) - 107.7% (c) | $ | 274,828,237 | ||||||
| Liabilities in Excess of Other Assets - (7.7)% | (19,640,794) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 255,187,443 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Shareholders may obtain the financial statements of these investment companies at www.sec.gov. |
| (b) | Represents annualized seven-day yield at July 31, 2026. |
| (c) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $200,930,155. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||
| Total return of KraneShares CSI China Internet ETF |
SOFR + 0.7900% | BNP Paribas | 12/4/2026 | 2,528,983 | $ | 68,788,470 | $ | 2,665,356 | ||||||||||
| Total return of KraneShares CSI China Internet ETF |
SOFR + 0.7500% | Goldman Sachs | 12/10/2026 | 3,513,075 | 110,617,193 | (9,786,511) | ||||||||||||
| Total return of KraneShares CSI China Internet ETF |
SOFR + 0.7500% | Bank of America Merrill Lynch | 12/11/2026 | 3,584,706 | 101,357,064 | (133,894) | ||||||||||||
| Total return of KraneShares CSI China Internet ETF |
SOFR + 0.8400% | UBS Securities LLC | 12/17/2026 | 958,112 | 33,102,433 | (5,065,712) | ||||||||||||
| Total return of KraneShares CSI China Internet ETF |
SOFR + 0.8000% | Citibank N.A. | 12/22/2026 | 2,530,961 | 77,596,577 | (5,865,840) | ||||||||||||
|
|
|
|||||||||||||||||
| $ | 391,461,737 | $ | (18,186,601) | |||||||||||||||
|
|
|
|||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Energy Bear 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 115.1% |
||||||||
| Money Market Funds - 115.1% |
||||||||
| 37,755,867 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 37,755,867 | |||||
| 885,137 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 885,137 | ||||||
| 5,745,827 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 5,745,827 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $44,386,831) (b) | $ | 44,386,831 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $44,386,831) - 115.1% | $ | 44,386,831 | ||||||
| Liabilities in Excess of Other Assets - (15.1)% | (5,833,283) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 38,553,548 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $18,095,928. |
| Short Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| SOFR + 0.3500% |
Total return of Energy Select Sector Index | BNP Paribas | 12/4/2026 | 3,685 | $ | 4,420,632 | $ | (180,903) | ||||||||||||
| SOFR + 0.6000% |
Total return of Energy Select Sector Index | J.P. Morgan | 12/16/2026 | 23,293 | 29,617,680 | 630,155 | ||||||||||||||
| SOFR + 0.3800% |
Total return of Energy Select Sector Index | UBS Securities LLC | 12/17/2026 | 32,852 | 35,730,195 | (5,287,916) | ||||||||||||||
| SOFR + 0.4500% |
Total return of Energy Select Sector Index | Barclays | 12/22/2026 | 1,682 | 2,067,305 | (40,302) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 71,835,812 | $ | (4,878,966) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Energy Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 70.6% |
||||||||
| Gasoline Stations and Fuel Dealers - 10.8% |
||||||||
| 128,277 | Chevron Corp. | $ | 25,248,762 | |||||
|
|
|
| ||||||
| Machinery Manufacturing - 2.6% |
||||||||
| 101,836 | Baker Hughes Co. | 6,160,060 | ||||||
|
|
|
| ||||||
| Oil and Gas Extraction - 26.7% |
||||||||
| 36,284 | APA Corp. | 1,354,119 | ||||||
| 118,352 | Devon Energy Corp. | 5,341,226 | ||||||
| 19,925 | Diamondback Energy, Inc. | 4,043,779 | ||||||
| 50,658 | EOG Resources, Inc. | 7,532,338 | ||||||
| 64,206 | EQT Corp. | 3,421,538 | ||||||
| 24,557 | Expand Energy Corp. | 2,309,094 | ||||||
| 219,137 | ExxonMobil Holdings Corp. | 34,062,655 | ||||||
| 74,533 | Occidental Petroleum Corp. | 4,253,598 | ||||||
|
|
|
| ||||||
| 62,318,347 | ||||||||
|
|
|
| ||||||
| Petroleum and Coal Products Manufacturing - 14.7% |
||||||||
| 83,478 | ConocoPhillips | 10,057,430 | ||||||
| 25,783 | Marathon Petroleum Corp. | 8,159,546 | ||||||
| 38,398 | Phillips 66 | 8,128,089 | ||||||
| 25,096 | Valero Energy Corp. | 7,852,538 | ||||||
|
|
|
| ||||||
| 34,197,603 | ||||||||
|
|
|
| ||||||
| Pipeline Transportation - 5.3% |
||||||||
| 22,033 | Targa Resources Corp. | 5,957,062 | ||||||
| 89,369 | Williams Cos., Inc. | 6,393,458 | ||||||
|
|
|
| ||||||
| 12,350,520 | ||||||||
|
|
|
| ||||||
| Support Activities for Mining - 4.2% |
||||||||
| 85,754 | Halliburton Co. | 2,765,567 | ||||||
| 144,099 | SLB Ltd. ADR | 7,145,869 | ||||||
|
|
|
| ||||||
| 9,911,436 | ||||||||
|
|
|
| ||||||
| Utilities - 6.3% |
||||||||
| 200,975 | Kinder Morgan, Inc. | 6,467,375 | ||||||
| 64,673 | ONEOK, Inc. | 5,872,955 | ||||||
| 5,948 | Texas Pacific Land Corp. | 2,394,546 | ||||||
|
|
|
| ||||||
| 14,734,876 | ||||||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $133,271,788) | $ | 164,921,604 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 28.0% |
||||||||
| Money Market Funds - 28.0% |
||||||||
| 49,556,449 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 49,556,449 | |||||
| 19,388 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 19,388 | ||||||
| 15,747,178 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 15,747,178 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $65,323,015) | $ | 65,323,015 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $198,594,803) - 98.6% (b) | $ | 230,244,619 | ||||||
| Other Assets in Excess of Liabilities - 1.4% | 3,248,871 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 233,493,490 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $171,451,768. |
ADR - American Depository Receipt
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation |
||||||||||||||
| Total return of Energy Select Sector Index |
SOFR + 0.7500% | BNP Paribas | 12/4/2026 | 37,514 | $ | 36,988,262 | $ | 9,678,563 | ||||||||||||
| Total return of Energy Select Sector Index |
SOFR + 0.6500% | Bank of America Merrill Lynch | 12/11/2026 | 33,503 | 40,429,082 | 1,314,319 | ||||||||||||||
| Total return of Energy Select Sector Index |
SOFR + 0.8000% | J.P. Morgan | 12/16/2026 | 62,265 | $ | 73,289,927 | $ | 4,348,430 | ||||||||||||
| Total return of Energy Select Sector Index |
SOFR + 0.7400% | UBS Securities LLC | 12/17/2026 | 58,503 | 54,723,706 | 18,144,362 | ||||||||||||||
| Total return of Energy Select Sector Index |
SOFR + 0.7000% | Barclays | 12/22/2026 | 49,225 | 59,218,632 | 2,363,796 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 264,649,609 | $ | 35,849,470 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Energy Top 5 Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 44.7% |
||||||||
| Gasoline Stations and Fuel Dealers - 9.4% |
||||||||
| 1,365 | Chevron Corp. | $ | 268,673 | |||||
|
|
|
| ||||||
| Oil and Gas Extraction - 9.3% |
||||||||
| 1,720 | ExxonMobil Holdings Corp. | 267,357 | ||||||
|
|
|
| ||||||
| Petroleum and Coal Products Manufacturing - 9.1% |
||||||||
| 2,160 | ConocoPhillips | 260,237 | ||||||
|
|
|
| ||||||
| Pipeline Transportation - 8.9% |
||||||||
| 3,584 | Williams Cos., Inc. | 256,400 | ||||||
|
|
|
| ||||||
| Support Activities for Mining - 8.0% |
||||||||
| 4,665 | SLB Ltd. ADR | 231,337 | ||||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $1,087,290) | $ | 1,284,004 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 50.5% |
||||||||
| Money Market Funds - 50.5% |
||||||||
| 696,878 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 696,878 | |||||
| 180,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 180,000 | ||||||
| 574,669 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 574,669 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $1,451,547) | $ | 1,451,547 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $2,538,837) - 95.2% (b) | $ | 2,735,551 | ||||||
| Other Assets in Excess of Liabilities - 4.8% | 136,138 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 2,871,689 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $1,533,928. |
ADR - American Depository Receipt
| Long Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| Total return of S&P 500® Energy (Sector) Top 5 Equal Capped Index |
SOFR + 0.8000% | Bank of America Merrill Lynch | 12/11/2026 | 1,789 | $ | 1,563,745 | $ | (3,463) | ||||||||||||
| Total return of S&P 500® Energy (Sector) Top 5 Equal Capped Index |
SOFR + 0.8000% | Citibank N.A. | 12/22/2026 | 2,218 | 1,861,646 | 81,217 | ||||||||||||||
| Total return of S&P 500® Energy (Sector) Top 5 Equal Capped Index |
SOFR + 0.8500% | Barclays | 12/22/2026 | 1,073 | 968,684 | (30,723) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 4,394,075 | $ | 47,031 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Ether Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 103.0% |
||||||||
| Money Market Funds - 103.0% |
||||||||
| 502,967 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 502,967 | |||||
| 661,464 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 661,464 | ||||||
| 1,205,495 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 1,205,495 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $2,369,926) (b) | $ | 2,369,926 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $2,369,926) - 103.0% | $ | 2,369,926 | ||||||
| Liabilities in Excess of Other Assets - (3.0)% | (68,169) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 2,301,757 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $1,866,959. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| Total return of iShares Ethereum Trust |
SOFR + 4.7500% | Bank of America Merrill Lynch | 12/11/2026 | 68,912 | $ | 899,273 | $ | 62,818 | ||||||||||||
| Total return of iShares Ethereum Trust |
SOFR + 6.2500% | Citibank N.A. | 12/22/2026 | 68,872 | 893,182 | 69,668 | ||||||||||||||
| Total return of iShares Ethereum Trust |
SOFR + 5.5000% | J.P. Morgan | 6/28/2027 | 78,564 | 1,158,743 | (70,503) | ||||||||||||||
| Total return of iShares Ethereum Trust |
SOFR + 4.7500% | Goldman Sachs | 6/29/2027 | 110,793 | 1,480,289 | 59,197 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 4,431,487 | $ | 121,180 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Gold Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 115.3% |
||||||||
| Money Market Funds - 115.3% |
||||||||
| 2,162,357 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 2,162,357 | |||||
| 371,365 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 371,365 | ||||||
| 300,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 300,000 | ||||||
| 532,074 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 532,074 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $3,365,796) (b) | $ | 3,365,796 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $3,365,796) - 115.3% | $ | 3,365,796 | ||||||
| Liabilities in Excess of Other Assets - (15.3)% | (446,447) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 2,919,349 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $1,203,439. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Depreciation |
||||||||||||||
| Total return of SPDR® Gold Trust |
SOFR + 2.2500% | Citibank N.A. | 12/22/2026 | 3,231 | $ | 1,317,718 | $ | (129,705) | ||||||||||||
| Total return of SPDR® Gold Trust |
SOFR + 3.0000% | Barclays | 12/22/2026 | 6,554 | 2,470,287 | (44,143) | ||||||||||||||
| Total return of SPDR® Gold Trust |
SOFR + 3.1400% | J.P. Morgan | 6/28/2027 | 3,000 | 1,242,186 | (142,966) | ||||||||||||||
| Total return of SPDR® Gold Trust |
SOFR + 2.0000% | Goldman Sachs | 6/29/2027 | 2,927 | 1,211,977 | (136,963) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 6,242,168 | $ | (453,777) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Gold Miners Index Bear 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 92.4% |
||||||||
| Money Market Funds - 92.4% |
||||||||
| 42,708,518 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 42,708,518 | |||||
| 22,662,284 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 22,662,284 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $65,370,802) (b) | $ | 65,370,802 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $65,370,802) - 92.4% | $ | 65,370,802 | ||||||
| Other Assets in Excess of Liabilities - 7.6% | 5,356,589 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 70,727,391 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $30,770,115. |
| Short Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation |
||||||||||||||
| SOFR + 0.5900% |
Total return of VanEck Gold Miners ETF | BNP Paribas | 12/4/2026 | 211,832 | $ | 19,635,943 | $ | 4,198,463 | ||||||||||||
| SOFR + 0.5500% |
Total return of VanEck Gold Miners ETF | Bank of America Merrill Lynch | 12/11/2026 | 183,413 | 17,221,680 | 3,875,455 | ||||||||||||||
| SOFR + 0.4500% |
Total return of VanEck Gold Miners ETF | J.P. Morgan | 12/16/2026 | 689,996 | 62,966,675 | 12,494,219 | ||||||||||||||
| SOFR + 0.3000% |
Total return of VanEck Gold Miners ETF | UBS Securities LLC | 12/17/2026 | 255,221 | 26,854,086 | 8,377,910 | ||||||||||||||
| SOFR + 0.5000% |
Total return of VanEck Gold Miners ETF | Citibank N.A. | 12/22/2026 | 568,342 | 43,565,964 | 1,560,529 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 170,244,348 | $ | 30,506,576 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Gold Miners Index Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| INVESTMENT COMPANIES - 52.8% |
||||||||
| 5,955,605 | VanEck Gold Miners ETF (a)(b) | $ | 441,310,331 | |||||
|
|
|
| ||||||
| TOTAL INVESTMENT COMPANIES (Cost $476,369,488) | $ | 441,310,331 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 63.0% |
||||||||
| Money Market Funds - 63.0% |
||||||||
| 356,368,347 | Dreyfus Government Cash Management Institutional Shares, 3.56% (c)(d) | $ | 356,368,347 | |||||
| 85,695,429 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (c) | 85,695,429 | ||||||
| 84,735,717 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (c) | 84,735,717 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $526,799,493) | $ | 526,799,493 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $1,003,168,981) - 115.8% (e) | $ | 968,109,824 | ||||||
| Liabilities in Excess of Other Assets - (15.8)% | (131,800,208) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 836,309,616 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Shareholders may obtain the financial statements of these investment companies at www.sec.gov. |
| (b) | A portion of this security represents a security on loan. |
| (c) | Represents annualized seven-day yield at July 31, 2026. |
| (d) | All or a portion of this security represents an investment of securities lending collateral. |
| (e) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $672,729,746. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Depreciation |
||||||||||||||
| Total return of VanEck Gold Miners ETF |
SOFR + 0.9900% | BNP Paribas | 12/4/2026 | 2,628,249 | $ | 215,662,304 | $ | (22,695,825) | ||||||||||||
| Total return of VanEck Gold Miners ETF |
SOFR + 0.9000% | Goldman Sachs | 12/10/2026 | 3,132,344 | 262,798,014 | (36,004,402) | ||||||||||||||
| Total return of VanEck Gold Miners ETF |
SOFR + 0.7500% | Bank of America Merrill Lynch | 12/11/2026 | 1,135,607 | 89,266,688 | (5,557,891) | ||||||||||||||
| Total return of VanEck Gold Miners ETF |
SOFR + 0.7400% | J.P. Morgan | 12/16/2026 | 2,953,078 | 251,790,055 | (37,283,826) | ||||||||||||||
| Total return of VanEck Gold Miners ETF |
SOFR + 0.9500% | UBS Securities LLC | 12/17/2026 | 3,190,872 | 274,275,722 | (43,397,553) | ||||||||||||||
| Total return of VanEck Gold Miners ETF |
SOFR + 0.9900% | Citibank N.A. | 12/22/2026 | 3,575,237 | 269,386,642 | (5,015,071) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 1,363,179,425 | $ | (149,954,568) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily GOOGL Bear 1X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 126.7% |
||||||||
| Money Market Funds - 126.7% |
||||||||
| 13,617,409 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 13,617,409 | |||||
| 2,202,218 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 2,202,218 | ||||||
| 4,081,694 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 4,081,694 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $19,901,321) (b) | $ | 19,901,321 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $19,901,321) - 126.7% | $ | 19,901,321 | ||||||
| Liabilities in Excess of Other Assets - (26.7)% | (4,197,938) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 15,703,383 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $6,283,913. |
| Short Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| SOFR + (1.1500)% |
Total return of common shares of Alphabet, Inc. | Bank of America Merrill Lynch | 12/11/2026 | 17,403 | $ | 5,776,934 | $ | (412,991) | ||||||||||||
| SOFR + (2.0000)% |
Total return of common shares of Alphabet, Inc. | Citibank N.A. | 12/22/2026 | 13,360 | 4,941,227 | 191,699 | ||||||||||||||
| SOFR + 0.0000% |
Total return of common shares of Alphabet, Inc. | Goldman Sachs | 3/18/2027 | 13,327 | 5,004,871 | 299,390 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 15,723,032 | $ | 78,098 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily GOOGL Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 16.7% |
||||||||
| Web Search Portals, Libraries, Archives, and Other Information Services - 16.7% |
||||||||
| 499,610 | Alphabet, Inc. | $ | 177,926,110 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $168,772,225) | $ | 177,926,110 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 87.1% |
||||||||
| 471,832,712 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 471,832,712 | |||||
| 185,149,555 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 185,149,555 | ||||||
| 81,311,913 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 81,311,913 | ||||||
| 188,516,114 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 188,516,114 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $926,810,294) | $ | 926,810,294 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $1,095,582,519) - 103.8% (b) | $ | 1,104,736,404 | ||||||
| Liabilities in Excess of Other Assets - (3.8)% | (40,783,292) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 1,063,953,112 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $776,632,404. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| Total return of common shares of Alphabet, Inc. |
SOFR + 2.5000% | Goldman Sachs | 12/10/2026 | 1,223,074 | $ | 456,407,222 | $ | (26,058,135) | ||||||||||||
| Total return of common shares of Alphabet, Inc. |
SOFR + 2.8500% | Bank of America Merrill Lynch | 12/11/2026 | 839,229 | 262,096,042 | 29,089,317 | ||||||||||||||
| Total return of common shares of Alphabet, Inc. |
SOFR + 3.0000% | Nomura | 12/11/2026 | 1,077,238 | 413,267,880 | (36,238,425) | ||||||||||||||
| Total return of common shares of Alphabet, Inc. |
SOFR + 3.2500% | Citibank N.A. | 12/22/2026 | 700,055 | 253,491,851 | (6,217,723) | ||||||||||||||
| Total return of common shares of Alphabet, Inc. |
SOFR + 2.2500% | Barclays | 12/22/2026 | 1,062,230 | 342,166,255 | 28,321,807 | ||||||||||||||
| Total return of common shares of Alphabet, Inc. |
SOFR + 2.8500% | BNP Paribas | 05/21/2027 | 572,990 | 211,302,166 | (9,066,072) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 1,938,731,416 | $ | (20,169,231) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily HOOD Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 1.8% |
||||||||
| Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 1.8% |
||||||||
| 1,902 | Robinhood Markets, Inc. (a) | $ | 164,637 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $146,922) | $ | 164,637 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 106.5% |
||||||||
| 1,404,128 | Dreyfus Government Cash Management Institutional Shares, 3.56% (b) | $ | 1,404,128 | |||||
| 1,030,068 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (b) | 1,030,068 | ||||||
| 1,700,132 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (b) | 1,700,132 | ||||||
| 5,648,023 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (b) | 5,648,023 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $9,782,351) | $ | 9,782,351 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $9,929,273) - 108.3% (c) | $ | 9,946,988 | ||||||
| Liabilities in Excess of Other Assets - (8.3)% | (759,012) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 9,187,976 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | Represents annualized seven-day yield at July 31, 2026. |
| (c) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $8,428,981. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| Total return of common shares of Robinhood Markets, Inc. |
SOFR + 6.0000% | Goldman Sachs | 12/10/2026 | 20,000 | $ | 1,424,285 | $ | 271,543 | ||||||||||||
| Total return of common shares of Robinhood Markets, Inc. |
SOFR + 3.0000% | Bank of America Merrill Lynch | 12/11/2026 | 53,657 | 4,281,330 | 270,728 | ||||||||||||||
| Total return of common shares of Robinhood Markets, Inc. |
SOFR + 7.0000% | Nomura | 12/11/2026 | 1,000 | 108,166 | (22,884) | ||||||||||||||
| Total return of common shares of Robinhood Markets, Inc. |
SOFR + 8.7500% | Citibank N.A. | 12/22/2026 | 72,600 | 7,126,562 | (888,865) | ||||||||||||||
| Total return of common shares of Robinhood Markets, Inc. |
SOFR + 5.5000% | Barclays | 12/22/2026 | 63,105 | 4,537,190 | 780,462 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 17,477,533 | $ | 410,984 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily INTC Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 16.3% |
||||||||
| Computer and Electronic Product Manufacturing - 16.3% |
||||||||
| 111,918 | Intel Corp. (a) | $ | 10,095,004 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $11,123,341) | $ | 10,095,004 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 101.8% |
||||||||
| 10,528,930 | Dreyfus Government Cash Management Institutional Shares, 3.56% (b) | $ | 10,528,930 | |||||
| 261,611 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (b) | 261,611 | ||||||
| 7,890,138 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (b) | 7,890,138 | ||||||
| 44,203,387 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (b) | 44,203,387 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $62,884,066) | $ | 62,884,066 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $74,007,407) - 118.1% (c) | $ | 72,979,070 | ||||||
| Liabilities in Excess of Other Assets - (18.1)% | (11,221,645) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 61,757,425 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | Represents annualized seven-day yield at July 31, 2026. |
| (c) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $53,168,463. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Depreciation |
||||||||||||||
| Total return of common shares of Intel Corp. |
SOFR + 4.0000% | Goldman Sachs | 12/10/2026 | 5,664 | $ | 536,664 | $ | (36,330) | ||||||||||||
| Total return of common shares of Intel Corp. |
SOFR + 3.7500% | Nomura | 12/11/2026 | 15,734 | 1,701,887 | (313,004) | ||||||||||||||
| Total return of common shares of Intel Corp. |
SOFR + 2.7500% | Bank of America Merrill Lynch | 12/14/2026 | 480,821 | 45,117,716 | (2,283,625) | ||||||||||||||
| Total return of common shares of Intel Corp. |
SOFR + 3.7500% | Citibank N.A. | 12/22/2026 | 525,371 | 53,626,212 | (6,878,195) | ||||||||||||||
| Total return of common shares of Intel Corp. |
SOFR + 4.0000% | Barclays | 12/22/2026 | 229,629 | 22,255,854 | (1,824,130) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 123,238,333 | $ | (11,335,284) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Junior Gold Miners Index Bear 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 93.1% |
||||||||
| Money Market Funds - 93.1% |
||||||||
| 24,812,003 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 24,812,003 | |||||
| 4,644,386 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 4,644,386 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $29,456,389) (b) | $ | 29,456,389 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $29,456,389) - 93.1% | $ | 29,456,389 | ||||||
| Other Assets in Excess of Liabilities - 6.9% | 2,191,300 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 31,647,689 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $12,262,261. |
| Short Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation |
||||||||||||||
| SOFR + 0.3000% |
Total return of VanEck Junior Gold Miners ETF | J.P. Morgan | 12/15/2026 | 126,934 | $ | 15,742,509 | $ | 3,773,550 | ||||||||||||
| SOFR + 0.3000% |
Total return of VanEck Junior Gold Miners ETF | UBS Securities LLC | 12/16/2026 | 221,687 | 24,338,101 | 3,308,127 | ||||||||||||||
| SOFR + 0.3000% |
Total return of VanEck Junior Gold Miners ETF | Citibank N.A. | 12/22/2026 | 86,646 | 10,173,295 | 2,013,319 | ||||||||||||||
| SOFR + 0.3900% |
Total return of VanEck Junior Gold Miners ETF | BNP Paribas | 6/11/2027 | 228,220 | 22,432,134 | 707,161 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 72,686,039 | $ | 9,802,157 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Junior Gold Miners Index Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| INVESTMENT COMPANIES - 37.8% |
||||||||
| 1,405,225 | VanEck Junior Gold Miners ETF (a)(b) | $ | 134,044,413 | |||||
|
|
|
| ||||||
| TOTAL INVESTMENT COMPANIES (Cost $148,471,289) | $ | 134,044,413 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 93.1% |
||||||||
| Money Market Funds - 93.1% |
||||||||
| 226,553,090 | Dreyfus Government Cash Management Institutional Shares, 3.56% (c)(d) | $ | 226,553,090 | |||||
| 103,202,910 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (c) | 103,202,910 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $329,756,000) | $ | 329,756,000 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $478,227,289) - 130.9% (e) | $ | 463,800,413 | ||||||
| Liabilities in Excess of Other Assets - (30.9)% | (109,446,389) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 354,354,024 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Shareholders may obtain the financial statements of these investment companies at www.sec.gov. |
| (b) | A portion of this security represents a security on loan. |
| (c) | Represents annualized seven-day yield at July 31, 2026. |
| (d) | All or a portion of this security represents an investment of securities lending collateral. |
| (e) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $294,878,026. |
| Long Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Depreciation |
||||||||||||||
| Total return of VanEck Junior Gold Miners ETF |
SOFR + 0.7900% | BNP Paribas | 12/4/2026 | 2,077,579 | $ | 203,969,383 | $ | (6,305,386) | ||||||||||||
| Total return of VanEck Junior Gold Miners ETF |
SOFR + 0.6300% | J.P. Morgan | 12/15/2026 | 1,854,326 | 235,298,730 | (61,031,496) | ||||||||||||||
| Total return of VanEck Junior Gold Miners ETF |
SOFR + 0.9300% | UBS Securities LLC | 12/17/2026 | 1,064,167 | 120,186,228 | (19,798,325) | ||||||||||||||
| Total return of VanEck Junior Gold Miners ETF |
SOFR + 0.8000% | Citibank N.A. | 12/22/2026 | 1,027,391 | 111,559,707 | (14,482,283) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 671,014,048 | $ | (101,617,490) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily LLY Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 15.1% |
||||||||
| Chemical Manufacturing - 15.1% |
||||||||
| 2,399 | Eli Lilly & Co. | $ | 2,756,067 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $1,662,785) | $ | 2,756,067 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 87.8% |
||||||||
| 2,803,434 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 2,803,434 | |||||
| 4,744,063 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 4,744,063 | ||||||
| 5,940,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 5,940,000 | ||||||
| 2,559,108 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 2,559,108 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $16,046,605) | $ | 16,046,605 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $17,709,390) - 102.9% (b) | $ | 18,802,672 | ||||||
| Liabilities in Excess of Other Assets - (2.9)% | (535,832) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 18,266,840 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $13,243,172. |
| Long Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount |
Unrealized Appreciation (Depreciation) |
||||||||||||
| Total return of common shares of Eli Lilly & Co. |
SOFR + 2.6500% | Goldman Sachs | 12/10/2026 | 8,782 | $ | 10,626,396 | $ | (541,030) | ||||||||||
| Total return of common shares of Eli Lilly & Co. |
SOFR + 2.7500% | Bank of America Merrill Lynch | 12/11/2026 | 5,287 | 5,847,811 | 150,107 | ||||||||||||
| Total return of common shares of Eli Lilly & Co. |
SOFR + 3.7500% | Citibank N.A. | 12/22/2026 | 949 | 1,016,796 | 30,399 | ||||||||||||
| Total return of common shares of Eli Lilly & Co. |
SOFR + 2.6500% | Barclays | 12/22/2026 | 14,381 | 17,401,298 | (885,940) | ||||||||||||
|
|
|
|||||||||||||||||
| $ | 34,892,301 | $ | (1,246,464) | |||||||||||||||
|
|
|
|||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily LMT Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 13.6% |
||||||||
| Transportation Equipment Manufacturing - 13.6% |
||||||||
| 1,826 | Lockheed Martin Corp. | $ | 1,064,084 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $856,861) | $ | 1,064,084 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 99.4% |
||||||||
| 1,257,470 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 1,257,470 | |||||
| 2,144,401 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 2,144,401 | ||||||
| 1,090,001 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 1,090,001 | ||||||
| 3,284,855 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 3,284,855 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $7,776,727) | $ | 7,776,727 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $8,633,588) - 113.0% (b) | $ | 8,840,811 | ||||||
| Liabilities in Excess of Other Assets - (13.0)% | (1,017,080) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 7,823,731 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $6,519,255. |
| Long Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||
| Total return of common shares of Lockheed Martin Corp. |
SOFR + 3.0000% | Goldman Sachs | 12/10/2026 | 4,064 | $ | 2,291,773 | $ | 22,512 | ||||||||||
| Total return of common shares of Lockheed Martin Corp. |
SOFR + 2.7500% | Bank of America Merrill Lynch | 12/11/2026 | 11,184 | 5,876,353 | 599,111 | ||||||||||||
| Total return of common shares of Lockheed Martin Corp. |
SOFR + 3.0000% | Barclays | 12/22/2026 | 7,184 | 4,186,404 | (31,234) | ||||||||||||
| Total return of common shares of Lockheed Martin Corp. |
SOFR + 3.7500% | Citibank N.A. | 12/22/2026 | 2,591 | 1,610,388 | (142,938) | ||||||||||||
|
|
|
|||||||||||||||||
| $ | 13,964,918 | $ | 447,451 | |||||||||||||||
|
|
|
|||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Magnificent 7 Bear 1X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 104.4% |
||||||||
| Money Market Funds - 104.4% |
||||||||
| 28,103,819 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 28,103,819 | |||||
| 4,222,371 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 4,222,371 | ||||||
| 2,449,824 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 2,449,824 | ||||||
| 850,169 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 850,169 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $35,626,183) (b) | $ | 35,626,183 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $35,626,183) - 104.4% | $ | 35,626,183 | ||||||
| Liabilities in Excess of Other Assets - (4.4)% | (1,494,468) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 34,131,715 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $7,522,365. |
| Short Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||
| SOFR + 0.4500% |
Total return of Indxx Magnificent 7 Index | Goldman Sachs | 12/10/2026 | 2,129 | $ | 20,194,586 | $ | 171,416 | ||||||||||
| SOFR + 0.6000% |
Total return of Indxx Magnificent 7 Index | Bank of America Merrill Lynch | 12/11/2026 | 300 | 2,811,739 | (29,934) | ||||||||||||
| SOFR + 0.6800% |
Total return of Indxx Magnificent 7 Index | Barclays | 12/22/2026 | 1,153 | 11,475,782 | 569,632 | ||||||||||||
|
|
|
|||||||||||||||||
| $ | 34,482,107 | $ | 711,114 | |||||||||||||||
|
|
|
|||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Magnificent 7 Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 40.7% |
||||||||
| Computer and Electronic Product Manufacturing - 17.1% |
||||||||
| 11,396 | Alphabet, Inc. - Class A | $ | 4,058,458 | |||||
| 13,418 | Apple, Inc. | 4,144,954 | ||||||
| 19,099 | NVIDIA Corp. | 3,834,124 | ||||||
|
|
|
| ||||||
| 12,037,536 | ||||||||
|
|
|
| ||||||
| General Merchandise Retailers - 6.6% |
||||||||
| 17,118 | Amazon.com, Inc. (a) | 4,648,907 | ||||||
|
|
|
| ||||||
| Professional, Scientific, and Technical Services - 5.6% |
||||||||
| 7,068 | Meta Platforms, Inc. - Class A | 3,934,826 | ||||||
|
|
|
| ||||||
| Publishing Industries - 7.1% |
||||||||
| 10,849 | Microsoft Corp. | 5,041,747 | ||||||
|
|
|
| ||||||
| Transportation Equipment Manufacturing - 4.3% |
||||||||
| 9,838 | Tesla, Inc. (a) | 3,061,684 | ||||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS |
$ | 28,724,700 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 20.7% |
||||||||
| Money Market Funds - 20.7% |
||||||||
| 9,578,542 | Dreyfus Government Cash Management Institutional Shares, 3.56% (b)(c) | $ | 9,578,542 | |||||
| 1,810,000 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (b) | 1,810,000 | ||||||
| 422,831 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (b) | 422,831 | ||||||
| 2,785,279 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (b) | 2,785,279 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $14,596,652) | $ | 14,596,652 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $35,208,294) - 61.4% (c) | $ | 43,321,352 | ||||||
| Other Assets in Excess of Liabilities - 38.6% | 27,236,691 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 70,558,043 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | Represents annualized seven-day yield at July 31, 2026. |
| (c) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $5,018,111. |
| Long Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||
| Total return of Indxx Magnificent 7 Index |
SOFR + 0.7000% | Goldman Sachs | 12/10/2026 | 3,734 | $ | 32,332,788 | $ | 2,916,463 | ||||||||||
| Total return of Indxx Magnificent 7 Index |
SOFR + 0.7500% | Bank of America Merrill Lynch | 12/11/2026 | 2,347 | 22,349,622 | (508,474) | ||||||||||||
| Total return of Indxx Magnificent 7 Index |
SOFR + 1.0000% | Barclays | 12/22/2026 | 5,717 | 51,977,274 | 2,182,881 | ||||||||||||
|
|
|
|||||||||||||||||
| $ | 106,659,684 | $ | 4,590,870 | |||||||||||||||
|
|
|
|||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily META Bear 1X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 101.7% |
||||||||
| Money Market Funds - 101.7% |
||||||||
| 7,302,896 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 7,302,896 | |||||
| 430,019 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 430,019 | ||||||
| 1,310,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 1,310,000 | ||||||
| 1,928,305 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 1,928,305 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $10,971,220) (b) | $ | 10,971,220 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $10,971,220) - 101.7% | $ | 10,971,220 | ||||||
| Liabilities in Excess of Other Assets - (1.7)% | (178,745) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 10,792,475 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $3,668,324. |
| Short Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation |
||||||||||||
| SOFR + 1.6500% |
Total return of common shares of Meta Platforms Inc. | Goldman Sachs | 12/10/2026 | 2,509 | $ | 1,621,757 | $ | 240,302 | ||||||||||
| SOFR + (0.6500)% |
Total return of common shares of Meta Platforms Inc. | Bank of America Merrill Lynch | 12/11/2026 | 3,101 | 1,976,072 | 276,957 | ||||||||||||
| SOFR + (2.0000)% |
Total return of common shares of Meta Platforms Inc. | Citibank N.A. | 12/22/2026 | 5,718 | 3,578,300 | 401,967 | ||||||||||||
| SOFR + 2.1500% |
Total return of common shares of Meta Platforms Inc. | Barclays | 12/22/2026 | 8,055 | 4,571,614 | 115,544 | ||||||||||||
|
|
|
|||||||||||||||||
| $ | 11,747,743 | $ | 1,034,770 | |||||||||||||||
|
|
|
|||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily META Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 18.4% |
||||||||
| Professional, Scientific, and Technical Services - 18.4% |
||||||||
| 120,371 | Meta Platforms, Inc. | $ | 67,011,739 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $71,128,782) | $ | 67,011,739 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 105.3% |
||||||||
| 104,272,297 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 104,272,297 | |||||
| 100,904,479 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 100,904,479 | ||||||
| 116,332,449 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 116,332,449 | ||||||
| 61,257,001 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 61,257,001 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $382,766,226) | $ | 382,766,226 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $453,895,008) - 123.7% (b) | $ | 449,777,965 | ||||||
| Liabilities in Excess of Other Assets - (23.7)% | (86,247,889) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 363,530,076 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
(a) Represents annualized seven-day yield at July 31, 2026.
(b) All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $349,580,525.
| Long Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Depreciation |
||||||||||||
| Total return of common shares of Meta Platforms, Inc. |
SOFR + 2.9000% | BNP Paribas | 12/04/2026 | 217,138 | $ | 127,498,008 | $ | (8,739,628) | ||||||||||
| Total return of common shares of Meta Platforms, Inc. |
SOFR + 2.6500% | Goldman Sachs | 12/10/2026 | 330,104 | 199,030,736 | (17,782,736) | ||||||||||||
| Total return of common shares of Meta Platforms, Inc. |
SOFR + 2.8500% | Bank of America Merrill Lynch | 12/11/2026 | 220,778 | 126,692,101 | (4,560,804) | ||||||||||||
| Total return of common shares of Meta Platforms, Inc. |
SOFR + 2.9500% | Citibank N.A. | 12/22/2026 | 89,059 | 50,610,920 | (1,355,043) | ||||||||||||
| Total return of common shares of Meta Platforms, Inc. |
SOFR + 2.9800% | Barclays | 12/22/2026 | 328,336 | 232,024,450 | (55,810,262) | ||||||||||||
|
|
|
|||||||||||||||||
| $ | 735,856,215 | $ | (88,248,473) | |||||||||||||||
|
|
|
|||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily MRVL Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 10.3% |
||||||||
| Professional, Scientific, and Technical Services - 10.3% |
||||||||
| 49,791 | Marvell Technology, Inc. | $ | 9,338,800 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $10,932,322) | $ | 9,338,800 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 83.2% |
||||||||
| 8,153,065 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 8,153,065 | |||||
| 24,310,897 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 24,310,897 | ||||||
| 9,060,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 9,060,000 | ||||||
| 33,910,333 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 33,910,333 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $75,434,295) | $ | 75,434,295 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $86,366,617) - 93.5% (b) | $ | 84,773,095 | ||||||
| Other Assets in Excess of Liabilities - 6.5% | 5,920,098 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 90,693,193 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $68,099,960. |
| Long Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||
| Total return of common shares of Marvell Technology, Inc. |
SOFR + 3.7500% | BNP Paribas | 12/04/2026 | 3,319 | $ | 769,199 | $ | (150,128) | ||||||||||
| Total return of common shares of Marvell Technology, Inc. |
SOFR + 3.0000% | Goldman Sachs | 12/10/2026 | 282,423 | 48,049,895 | 4,349,277 | ||||||||||||
| Total return of common shares of Marvell Technology, Inc. |
SOFR + 3.5000% | Bank of America Merrill Lynch | 12/11/2026 | 373,889 | 70,797,115 | (1,494,964) | ||||||||||||
| Total return of common shares of Marvell Technology, Inc. |
SOFR + 5.0000% | Nomura | 12/11/2026 | 1,928 | 541,290 | (184,558) | ||||||||||||
| Total return of common shares of Marvell Technology, Inc. |
SOFR + 4.0000% | Citibank N.A. | 12/22/2026 | 116,214 | 20,986,676 | 478,102 | ||||||||||||
| Total return of common shares of Marvell Technology, Inc. |
SOFR + 4.2500% | Barclays | 12/22/2026 | 139,426 | 26,607,112 | (799,571) | ||||||||||||
|
|
|
|||||||||||||||||
| $ | 167,751,287 | $ | 2,198,158 | |||||||||||||||
|
|
|
|||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily MSCI Brazil Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| INVESTMENT COMPANIES - 47.9% |
||||||||
| 1,374,194 | iShares MSCI Brazil Capped ETF (a)(b) | $ | 50,364,210 | |||||
|
|
|
| ||||||
| TOTAL INVESTMENT COMPANIES (Cost $49,523,567) | $ | 50,364,210 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 56.0% |
||||||||
| Money Market Funds - 56.0% |
||||||||
| 47,832,190 | Dreyfus Government Cash Management Institutional Shares, 3.56% (c)(d) | $ | 47,832,190 | |||||
| 693,814 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (c) | 693,814 | ||||||
| 10,417,696 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (c) | 10,417,696 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $58,943,700) | $ | 58,943,700 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $108,467,267) - 103.9% (e) | $ | 109,307,910 | ||||||
| Liabilities in Excess of Other Assets - (3.9)% | (4,064,483) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 105,243,427 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Shareholders may obtain the financial statements of these investment companies at www.sec.gov. |
| (b) | A portion of this security represents a security on loan. |
| (c) | Represents annualized seven-day yield at July 31, 2026. |
| (d) | All or a portion of this security represents an investment of securities lending collateral. |
| (e) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $43,848,874. |
| Long Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation |
||||||||||||
| Total return of iShares MSCI Brazil Capped ETF |
SOFR + 0.6500% | BNP Paribas | 12/4/2026 | 150,000 | $ | 4,799,460 | $ | 625,492 | ||||||||||
| Total return of iShares MSCI Brazil Capped ETF |
SOFR + 0.2700% | J.P. Morgan | 12/16/2026 | 1,400,000 | 46,615,704 | 5,360,143 | ||||||||||||
| Total return of iShares MSCI Brazil Capped ETF |
SOFR + 0.8000% | UBS Securities LLC | 12/17/2026 | 1,820,351 | 57,994,741 | 7,927,800 | ||||||||||||
| Total return of iShares MSCI Brazil Capped ETF |
SOFR + 0.7500% | Barclays | 12/22/2026 | 998,300 | 34,050,458 | 2,456,031 | ||||||||||||
|
|
|
|||||||||||||||||
| $ | 143,460,363 | $ | 16,369,466 | |||||||||||||||
|
|
|
|||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily MSCI India Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| INVESTMENT COMPANIES - 59.5% |
||||||||
| 681,418 | iShares MSCI India ETF (a)(b)(c) | $ | 33,934,616 | |||||
|
|
|
| ||||||
| TOTAL INVESTMENT COMPANIES (Cost $35,534,485) | $ | 33,934,616 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 47.5% |
||||||||
| Money Market Funds - 47.5% |
||||||||
| 16,123,934 | Dreyfus Government Cash Management Institutional Shares, 3.56% (d)(e) | $ | 16,123,934 | |||||
| 2,948,587 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (d) | 2,948,587 | ||||||
| 8,030,610 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (d) | 8,030,610 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $27,103,131) | $ | 27,103,131 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $62,637,616) - 107.0% (f) | $ | 61,037,747 | ||||||
| Liabilities in Excess of Other Assets - (7.0)% | (4,012,216) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 57,025,531 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | A portion of this security represents a security on loan. |
| (c) | Shareholders may obtain the financial statements of these investment companies at www.sec.gov. |
| (d) | Represents annualized seven-day yield at July 31, 2026. |
| (e) | All or a portion of this security represents an investment of securities lending collateral. |
| (f) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $18,988,194. |
| Long Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||
| Total return of iShares MSCI India ETF |
SOFR + 0.7000% | Bank of America Merrill Lynch | 12/11/2026 | 403,827 | $ | 19,661,633 | $ | 337,893 | ||||||||||
| Total return of iShares MSCI India ETF |
SOFR + 0.7900% | UBS Securities LLC | 12/17/2026 | 631,678 | 33,459,984 | (2,925,855) | ||||||||||||
| Total return of iShares MSCI India ETF |
SOFR + 0.9500% | Citibank N.A. | 12/22/2026 | 259,272 | 13,947,023 | (1,414,671) | ||||||||||||
| Total return of iShares MSCI India ETF |
SOFR + 0.8000% | Barclays | 12/22/2026 | 313,885 | 14,785,717 | 635,499 | ||||||||||||
|
|
|
|||||||||||||||||
| $ | 81,854,357 | $ | (3,367,134) | |||||||||||||||
|
|
|
|||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily MSFT Bear 1X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 89.0% |
| |||||||
| Money Market Funds - 89.0% |
| |||||||
| 4,253,684 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 4,253,684 | |||||
| 748,872 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 748,872 | ||||||
| 1,920,307 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 1,920,307 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $6,922,863) (b) | $ | 6,922,863 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $6,922,863) - 89.0% | $ | 6,922,863 | ||||||
| Other Assets in Excess of Liabilities - 11.0% | 857,021 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 7,779,884 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $2,669,179. |
| Short Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| SOFR + 1.0300% |
Total return of common shares of Microsoft Corp. | Goldman Sachs | 12/10/2026 | 6,836 | $ | 2,901,241 | $ | (264,297) | ||||||||||||
| SOFR + (0.5000)% |
Total return of common shares of Microsoft Corp. | Bank of America Merrill Lynch | 12/11/2026 | 4,956 | 2,036,407 | (250,353) | ||||||||||||||
| SOFR + (2.0000)% |
Total return of common shares of Microsoft Corp. | Citibank N.A. | 12/22/2026 | 4,948 | 2,355,151 | 69,728 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 7,292,799 | $ | (444,922) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily MSFT Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 11.1% |
||||||||
| Publishing Industries - 11.1% |
||||||||
| 181,546 | Microsoft Corp. | $ | 84,368,058 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $69,267,834) | $ | 84,368,058 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 84.8% |
||||||||
| 179,963,354 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 179,963,354 | |||||
| 161,213,169 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 161,213,169 | ||||||
| 23,880,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 23,880,000 | ||||||
| 280,375,308 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 280,375,308 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $645,431,831) | $ | 645,431,831 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $714,699,665) - 95.9% (b) | $ | 729,799,889 | ||||||
| Other Assets in Excess of Liabilities - 4.1% | 31,647,463 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 761,447,352 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $465,468,475. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| Total return of common shares of Microsoft Corp. |
SOFR + 2.5000% | Goldman Sachs | 12/10/2026 | 1,188,067 | $ | 552,118,496 | $ | (3,073,281) | ||||||||||||
| Total return of common shares of Microsoft Corp. |
SOFR + 3.0000% | Bank of America Merrill Lynch | 12/11/2026 | 951,847 | 442,342,338 | (6,713,711) | ||||||||||||||
| Total return of common shares of Microsoft Corp. |
SOFR + 2.8000% | Citibank N.A. | 12/22/2026 | 852,791 | 338,969,965 | 52,871,672 | ||||||||||||||
| Total return of common shares of Microsoft Corp. |
SOFR + 2.2500% | Barclays | 12/22/2026 | 102,438 | 49,674,235 | (4,258,716) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 1,383,105,034 | $ | 38,825,964 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily MU Bear 1X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 101.4% |
||||||||
| Money Market Funds - 101.4% |
||||||||
| 35,432,004 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 35,432,004 | |||||
| 15,913,865 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 15,913,865 | ||||||
| 3,990,001 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 3,990,001 | ||||||
| 5,581,445 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 5,581,445 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $60,917,315) (b) | $ | 60,917,315 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $60,917,315) - 101.4% | $ | 60,917,315 | ||||||
| Liabilities in Excess of Other Assets - (1.4)% | (828,152) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 60,089,163 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $32,236,237. |
| ShortTotal Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| SOFR + 1.9000% |
Total return of common shares of Micron Technology, Inc. | Goldman Sachs | 12/10/2026 | 35,084 | $ | 29,413,960 | $ | 573,955 | ||||||||||||
| SOFR + (1.2500)% |
Total return of common shares of Micron Technology, Inc. | Bank of America Merrill Lynch | 12/11/2026 | 14,449 | 15,399,187 | 3,544,456 | ||||||||||||||
| SOFR + 1.0000% |
Total return of common shares of Micron Technology, Inc. | Nomura | 12/11/2026 | 8,295 | 3,350,699 | (3,419,731) | ||||||||||||||
| SOFR + 2.6500% |
Total return of common shares of Micron Technology, Inc. | Barclays | 12/22/2026 | 15,173 | 16,482,826 | 4,074,970 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 64,646,672 | $ | 4,773,650 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily MU Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 12.6% |
||||||||
| Computer and Electronic Product Manufacturing - 12.6% |
||||||||
| 517,559 | Micron Technology, Inc. | $ | 425,966,584 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $279,540,374) | $ | 425,966,584 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 125.8% |
||||||||
| 1,582,632,907 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 1,582,632,907 | |||||
| 1,442,243,761 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 1,442,243,761 | ||||||
| 747,650,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 747,650,000 | ||||||
| 480,395,290 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 480,395,290 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $4,252,921,958) | $ | 4,252,921,958 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $4,532,462,332) - 138.4% (b) | $ | 4,678,888,542 | ||||||
| Liabilities in Excess of Other Assets - (38.4)% | (1,298,776,018) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 3,380,112,524 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $4,031,609,116. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Depreciation |
||||||||||||||
| Total return of common shares of Micron Technology, Inc. |
SOFR + 8.0000% | BNP Paribas | 12/04/2026 | 1,515,037 | $ | 1,595,162,449 | $ | (372,237,412) | ||||||||||||
| Total return of common shares of Micron Technology, Inc. |
SOFR + 7.0000% | HSBC Securities, Inc. | 12/9/2026 | 85,000 | 74,357,252 | (4,421,699) | ||||||||||||||
| Total return of common shares of Micron Technology, Inc. |
SOFR + 9.0000% | Bank of America Merrill Lynch | 12/11/2026 | 434,748 | 407,373,909 | (52,945,045) | ||||||||||||||
| Total return of common shares of Micron Technology, Inc. |
SOFR + 6.5000% | Nomura | 12/11/2026 | 656,552 | 614,905,921 | (81,153,764) | ||||||||||||||
| Total return of common shares of Micron Technology, Inc. |
SOFR + 10.0000% | Citibank N.A. | 12/22/2026 | 241,027 | 239,059,818 | (40,087,836) | ||||||||||||||
| Total return of common shares of Micron Technology, Inc. |
SOFR + 9.0000% | Barclays | 12/22/2026 | 1,672,676 | 1,753,950,414 | (395,714,100) | ||||||||||||||
| Total return of common shares of Micron Technology, Inc. |
SOFR + 4.7400% | J.P. Morgan | 7/1/2027 | 740,717 | 744,602,812 | (142,283,094) | ||||||||||||||
| Total return of common shares of Micron Technology, Inc. |
SOFR + 8.0000% | Goldman Sachs | 7/16/2027 | 2,349,034 | 2,332,757,595 | (418,445,971) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 7,762,170,170 | $ | (1,507,288,921) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily NFLX Bear 1X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 100.1% |
||||||||
| Money Market Funds - 100.1% |
||||||||
| 2,592,343 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 2,592,343 | |||||
| 903,566 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 903,566 | ||||||
| 420,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 420,000 | ||||||
| 891,982 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 891,982 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $4,807,891) (b) | $ | 4,807,891 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $4,807,891) - 100.1% | $ | 4,807,891 | ||||||
| Liabilities in Excess of Other Assets - (0.1)% | (3,954) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 4,803,937 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $2,215,549. |
| ShortTotal Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| SOFR + 1.6500% |
Total return of common shares of Netflix, Inc. | Goldman Sachs | 12/10/2026 | 22,447 | $ | 1,528,571 | $ | (78,881) | ||||||||||||
| SOFR + (1.2500)% |
Total return of common shares of Netflix, Inc. | Bank of America Merrill Lynch | 12/11/2026 | 16,923 | 1,567,489 | 371,816 | ||||||||||||||
| SOFR + (2.0000)% |
Total return of common shares of Netflix, Inc. | Citibank N.A. | 12/22/2026 | 14,428 | 1,341,195 | 317,056 | ||||||||||||||
| SOFR + 2.1500% |
Total return of common shares of Netflix, Inc. | Barclays | 12/22/2026 | 13,184 | 1,237,632 | 330,854 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 5,674,887 | $ | 940,845 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily NFLX Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 15.1% |
||||||||
| Motion Picture and Sound Recording Industries - 15.1% |
||||||||
| 286,635 | Netflix, Inc. (a) | $ | 20,554,596 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $23,128,843) | $ | 20,554,596 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 101.9% |
||||||||
| 31,142,704 | Dreyfus Government Cash Management Institutional Shares, 3.56% (b) | $ | 31,142,704 | |||||
| 50,680,832 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (b) | 50,680,832 | ||||||
| 30,760,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (b) | 30,760,000 | ||||||
| 26,155,489 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (b) | 26,155,489 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $138,739,025) | $ | 138,739,025 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $161,867,868) - 117.0% (c) | $ | 159,293,621 | ||||||
| Liabilities in Excess of Other Assets - (17.0)% | (23,207,959) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 136,085,662 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | Represents annualized seven-day yield at July 31, 2026. |
| (c) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $128,337,140. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Depreciation |
||||||||||||||
| Total return of common shares of Netflix, Inc. |
SOFR + 2.5000% | Goldman Sachs | 12/10/2026 | 1,491,380 | $ | 110,994,395 | $ | (4,525,113) | ||||||||||||
| Total return of common shares of Netflix, Inc. |
SOFR + 2.7500% | Bank of America Merrill Lynch | 12/11/2026 | 495,617 | 38,967,418 | (4,169,100) | ||||||||||||||
| Total return of common shares of Netflix, Inc. |
SOFR + 3.7500% | Nomura | 12/11/2026 | 395,607 | 36,676,725 | (10,063,351) | ||||||||||||||
| Total return of common shares of Netflix, Inc. |
SOFR + 3.7500% | Citibank N.A. | 12/22/2026 | 172,651 | 15,654,237 | (3,749,037) | ||||||||||||||
| Total return of common shares of Netflix, Inc. |
SOFR + 2.9200% | Barclays | 12/22/2026 | 953,037 | 77,605,061 | (11,106,248) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 279,897,836 | $ | (33,612,849) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily NVDA Bear 1X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 96.7% |
||||||||
| Money Market Funds - 96.7% |
||||||||
| 14,453,944 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 14,453,944 | |||||
| 1,949,167 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 1,949,167 | ||||||
| 2,610,003 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 2,610,003 | ||||||
| 2,063,789 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 2,063,789 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $21,076,903) (b) | $ | 21,076,903 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $21,076,903) - 96.7% | $ | 21,076,903 | ||||||
| Other Assets in Excess of Liabilities - 3.3% | 729,953 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 21,806,856 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $6,977,055. |
| Short Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| SOFR + (0.7500)% |
Total return of common shares of NVIDIA Corp. | BNP Paribas | 12/4/2026 | 3,480 | $ | 638,162 | $ | (49,050) | ||||||||||||
| SOFR + 1.6500% |
Total return of common shares of NVIDIA Corp. | Goldman Sachs | 12/10/2026 | 24,738 | 4,975,740 | 30,912 | ||||||||||||||
| SOFR + 0.8500% |
Total return of common shares of NVIDIA Corp. | Bank of America Merrill Lynch | 12/11/2026 | 28,042 | 5,693,622 | 78,487 | ||||||||||||||
| SOFR + (2.0000)% |
Total return of common shares of NVIDIA Corp. | Citibank N.A. | 12/22/2026 | 8,086 | 1,637,670 | 16,543 | ||||||||||||||
| SOFR + 2.1500% |
Total return of common shares of NVIDIA Corp. | Barclays | 12/22/2026 | 44,266 | 9,513,859 | 716,721 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 22,459,053 | $ | 793,613 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily NVDA Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 12.9% |
||||||||
| Computer and Electronic Product Manufacturing - 12.9% |
||||||||
| 333,792 | NVIDIA Corp. | $ | 67,008,744 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $47,724,718) | $ | 67,008,744 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 84.9% |
||||||||
| 251,673,182 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 251,673,182 | |||||
| 21,089,304 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 21,089,304 | ||||||
| 32,931,565 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 32,931,565 | ||||||
| 137,061,294 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 137,061,294 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $442,755,345) | $ | 442,755,345 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $490,480,063) - 97.8% (b) | $ | 509,764,089 | ||||||
| Other Assets in Excess of Liabilities - 2.2% | 11,659,258 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 521,423,347 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $373,006,654. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| Total return of common shares of NVIDIA Corp. |
SOFR + 2.9000% | BNP Paribas | 12/04/2026 | 985,272 | $ | 178,663,217 | $ | 13,291,184 | ||||||||||||
| Total return of common shares of NVIDIA Corp. |
SOFR + 2.7500% | Goldman Sachs | 12/10/2026 | 270,362 | 47,308,745 | 5,975,113 | ||||||||||||||
| Total return of common shares of NVIDIA Corp. |
SOFR + 3.1000% | Bank of America Merrill Lynch | 12/11/2026 | 460,981 | 86,808,927 | 3,766,570 | ||||||||||||||
| Total return of common shares of NVIDIA Corp. |
SOFR + 3.7500% | Nomura | 12/11/2026 | 1,100,000 | 202,158,000 | 9,275,446 | ||||||||||||||
| Total return of common shares of NVIDIA Corp. |
SOFR + 2.8000% | Citibank N.A. | 12/22/2026 | 1,548,788 | 310,771,069 | (3,709,725) | ||||||||||||||
| Total return of common shares of NVIDIA Corp. |
SOFR + 2.9300% | Barclays | 12/22/2026 | 494,959 | 99,312,216 | (1,158,362) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 925,022,174 | $ | 27,440,226 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily NYSE FANG+ Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 34.4% |
||||||||
| Computer and Electronic Product Manufacturing - 16.5% |
||||||||
| 11,424 | Alphabet, Inc. | $ | 4,068,429 | |||||
| 14,043 | Apple, Inc. | 4,338,023 | ||||||
| 10,577 | Broadcom, Inc. | 4,117,415 | ||||||
| 3,984 | Micron Technology, Inc. | 3,278,951 | ||||||
| 20,308 | NVIDIA Corp. | 4,076,831 | ||||||
|
|
|
| ||||||
| 19,879,649 | ||||||||
|
|
|
| ||||||
| General Merchandise Retailers - 3.9% |
||||||||
| 17,499 | Amazon.com, Inc. (a) | 4,752,379 | ||||||
|
|
|
| ||||||
| Motion Picture and Sound Recording Industries - 3.2% |
||||||||
| 54,002 | Netflix, Inc. (a) | 3,872,483 | ||||||
|
|
|
| ||||||
| Professional, Scientific, and Technical Services - 6.6% |
||||||||
| 7,322 | Meta Platforms, Inc. | 4,076,231 | ||||||
| 31,814 | Palantir Technologies, Inc. (a) | 3,915,031 | ||||||
|
|
|
| ||||||
| 7,991,262 | ||||||||
|
|
|
| ||||||
| Publishing Industries - 4.2% |
||||||||
| 10,967 | Microsoft Corp. | 5,096,583 | ||||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $41,711,736) | $ | 41,592,356 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 62.9% |
||||||||
| Money Market Funds - 62.9% |
||||||||
| 54,106,282 | Dreyfus Government Cash Management Institutional Shares, 3.56% (b) | $ | 54,106,282 | |||||
| 4,510,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (b) | 4,510,000 | ||||||
| 17,403,077 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (b) | 17,403,077 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $76,019,359) | $ | 76,019,359 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $117,731,095) - 97.3% (c) | $ | 117,611,715 | ||||||
| Other Assets in Excess of Liabilities - 2.7% | 3,292,090 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 120,903,805 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | Represents annualized seven-day yield at July 31, 2026. |
| (c) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $41,382,892. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation |
||||||||||||||
| Total return of NYSE FANG+ Index |
SOFR + 0.9000% | BNP Paribas | 12/4/2026 | 369 | $ | 6,105,264 | $ | 90,045 | ||||||||||||
| Total return of NYSE FANG+ Index |
SOFR + 0.7500% | Bank of America Merrill Lynch | 12/11/2026 | 2,680 | 44,499,751 | 692,911 | ||||||||||||||
| Total return of NYSE FANG+ Index |
SOFR + 0.7500% | J.P. Morgan | 12/15/2026 | 3,049 | 49,623,890 | 2,498,174 | ||||||||||||||
| Total return of NYSE FANG+ Index |
SOFR + 0.7500% | UBS Securities LLC | 12/17/2026 | 3,043 | 46,991,407 | 4,468,172 | ||||||||||||||
| Total return of NYSE FANG+ Index |
SOFR + 0.8300% | Barclays | 12/22/2026 | 2,457 | 40,094,461 | 1,727,764 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 187,314,773 | $ | 9,477,066 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily ORCL Bear 1X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 117.3% |
||||||||
| Money Market Funds - 117.3% |
||||||||
| 8,024,687 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 8,024,687 | |||||
| 853,686 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 853,686 | ||||||
| 3,020,298 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 3,020,298 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $11,898,671) (b) | $ | 11,898,671 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $11,898,671) - 117.3% | $ | 11,898,671 | ||||||
| Liabilities in Excess of Other Assets - (17.3)% | (1,756,340) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 10,142,331 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $3,873,985. |
| ShortTotal Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| SOFR + 0.2500% |
Total return of common shares of Oracle Corp. | Goldman Sachs | 12/10/2026 | 3,137 | $ | 400,156 | $ | (7,030) | ||||||||||||
| SOFR + (0.5000)% |
Total return of common shares of Oracle Corp. | Bank of America Merrill Lynch | 12/11/2026 | 27,421 | 4,630,181 | 1,076,312 | ||||||||||||||
| SOFR + (2.0000)% |
Total return of common shares of Oracle Corp. | Citibank N.A. | 12/22/2026 | 26,528 | 3,228,851 | (214,754) | ||||||||||||||
| SOFR + 1.5000% |
Total return of common shares of Oracle Corp. | Barclays | 12/22/2026 | 20,997 | 2,678,377 | (48,068) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 10,937,565 | $ | 806,460 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily ORCL Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 15.4% |
||||||||
| Professional, Scientific, and Technical Services - 15.4% |
||||||||
| 116,926 | Oracle Corp. | $ | 15,185,180 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $15,560,416) | $ | 15,185,180 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 122.8% |
||||||||
| 33,480,105 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 33,480,105 | |||||
| 20,475,449 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 20,475,449 | ||||||
| 17,210,130 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 17,210,130 | ||||||
| 50,000,864 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 50,000,864 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $121,166,548) | $ | 121,166,548 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $136,726,964) - 138.2% (b) | $ | 136,351,728 | ||||||
| Liabilities in Excess of Other Assets - (38.2)% | (37,686,925) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 98,664,803 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $105,102,346. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Depreciation |
||||||||||||||
| Total return of common shares of Oracle Corp. |
SOFR + 3.5000% | BNP Paribas | 12/04/2026 | 93,616 | $ | 23,160,134 | $ | (11,229,428) | ||||||||||||
| Total return of common shares of Oracle Corp. |
SOFR + 3.0000% | Goldman Sachs | 12/10/2026 | 266,039 | 39,390,812 | (5,178,769) | ||||||||||||||
| Total return of common shares of Oracle Corp. |
SOFR + 3.0000% | Bank of America Merrill Lynch | 12/11/2026 | 114,411 | 15,905,204 | (1,250,927) | ||||||||||||||
| Total return of common shares of Oracle Corp. |
SOFR + 3.7500% | Citibank N.A. | 12/22/2026 | 841,572 | 111,650,415 | (2,771,767) | ||||||||||||||
| Total return of common shares of Oracle Corp. |
SOFR + 4.0000% | Barclays | 12/22/2026 | 86,578 | 15,597,886 | (4,672,574) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 205,704,451 | $ | (25,103,465) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily PANW Bear 1X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 113.1% |
||||||||
| Money Market Funds - 113.1% |
||||||||
| 1,306,856 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 1,306,856 | |||||
| 286,232 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 286,232 | ||||||
| 330,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 330,000 | ||||||
| 769,799 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 769,799 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $2,692,887) (b) | $ | 2,692,887 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $2,692,887) - 113.1% | $ | 2,692,887 | ||||||
| Liabilities in Excess of Other Assets - (13.1)% | (311,330) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 2,381,557 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $1,386,032. |
| Short Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| SOFR + 1.4000% |
Total return of common shares of Palo Alto Networks, Inc. | Goldman Sachs | 12/10/2026 | 600 | $ | 155,486 | $ | (40,846) | ||||||||||||
| SOFR + (1.2500)% |
Total return of common shares of Palo Alto Networks, Inc. | Bank of America Merrill Lynch | 12/11/2026 | 1,756 | 584,559 | 2,547 | ||||||||||||||
| SOFR + (2.0000)% |
Total return of common shares of Palo Alto Networks, Inc. | Citibank N.A. | 12/22/2026 | 1,844 | 344,607 | (263,803) | ||||||||||||||
| SOFR + 1.8600% |
Total return of common shares of Palo Alto Networks, Inc. | Barclays | 12/22/2026 | 2,976 | 999,482 | 15,783 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 2,084,134 | $ | (286,319) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily PANW Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 15.0% |
||||||||
| Computer and Electronic Product Manufacturing - 15.0% |
||||||||
| 11,853 | Palo Alto Networks, Inc. (a) | $ | 3,933,181 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $2,339,193) | $ | 3,933,181 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 103.9% |
||||||||
| 16,796,644 | Dreyfus Government Cash Management Institutional Shares, 3.56% (b) | $ | 16,796,644 | |||||
| 1,662,560 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (b) | 1,662,560 | ||||||
| 1,970,002 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (b) | 1,970,002 | ||||||
| 6,744,457 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (b) | 6,744,457 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $27,173,663) | $ | 27,173,663 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $29,512,856) - 118.9% (c) | $ | 31,106,844 | ||||||
| Liabilities in Excess of Other Assets - (18.9)% | (4,949,220) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 26,157,624 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | Represents annualized seven-day yield at July 31, 2026. |
| (c) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $21,007,830. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| Total return of common shares of Palo Alto Networks, Inc. |
SOFR + 3.5000% | BNP Paribas | 12/04/2026 | 34,171 | $ | 12,256,454 | $ | (946,631) | ||||||||||||
| Total return of common shares of Palo Alto Networks, Inc. |
SOFR + 2.8700% | Goldman Sachs | 12/10/2026 | 7,394 | 2,408,078 | 44,790 | ||||||||||||||
| Total return of common shares of Palo Alto Networks, Inc. |
SOFR + 3.0000% | Bank of America Merrill Lynch | 12/11/2026 | 26,495 | 7,553,461 | 1,208,453 | ||||||||||||||
| Total return of common shares of Palo Alto Networks, Inc. |
SOFR + 4.2500% | Nomura | 12/11/2026 | 29,918 | 9,743,694 | 181,857 | ||||||||||||||
| Total return of common shares of Palo Alto Networks, Inc. |
SOFR + 3.7500% | Citibank N.A. | 12/22/2026 | 28,589 | 8,981,234 | 501,760 | ||||||||||||||
| Total return of common shares of Palo Alto Networks, Inc. |
SOFR + 2.3500% | Barclays | 12/22/2026 | 19,214 | 6,036,078 | 337,704 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 46,978,999 | $ | 1,327,933 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily PLTR Bear 1X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 98.2% |
||||||||
| Money Market Funds - 98.2% |
||||||||
| 22,314,229 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 22,314,229 | |||||
| 2,739,408 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 2,739,408 | ||||||
| 4,630,004 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 4,630,004 | ||||||
| 4,967,614 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 4,967,614 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $34,651,255) (b) | $ | 34,651,255 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $34,651,255) - 98.2% | $ | 34,651,255 | ||||||
| Other Assets in Excess of Liabilities - 1.8% | 649,606 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 35,300,861 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $12,337,027. |
| Short Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation |
||||||||||||||
| SOFR + 1.6500% |
Total return of common shares of Palantir Technologies, Inc. | Goldman Sachs | 12/10/2026 | 52,123 | $ | 7,381,636 | $ | 1,036,107 | ||||||||||||
| SOFR + (0.5000)% |
Total return of common shares of Palantir Technologies, Inc. | Bank of America Merrill Lynch | 12/11/2026 | 65,070 | 8,775,466 | 806,116 | ||||||||||||||
| SOFR + (2.0000)% |
Total return of common shares of Palantir Technologies, Inc. | Citibank N.A. | 12/22/2026 | 44,728 | 6,339,467 | 853,279 | ||||||||||||||
| SOFR + 2.1500% |
Total return of common shares of Palantir Technologies, Inc. | Barclays | 12/22/2026 | 124,901 | 18,784,394 | 3,679,554 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 41,280,963 | $ | 6,375,056 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily PLTR Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 19.5% |
||||||||
| Professional, Scientific, and Technical Services - 19.5% |
||||||||
| 593,233 | Palantir Technologies, Inc. (a) | $ | 73,003,253 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $79,717,748) | $ | 73,003,253 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 102.8% |
||||||||
| 132,637,878 | Dreyfus Government Cash Management Institutional Shares, 3.56% (b) | $ | 132,637,878 | |||||
| 38,672,212 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (b) | 38,672,212 | ||||||
| 57,260,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (b) | 57,260,000 | ||||||
| 156,104,042 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (b) | 156,104,042 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $384,674,132) | $ | 384,674,132 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $464,391,880) - 122.3% (c) | $ | 457,677,385 | ||||||
| Liabilities in Excess of Other Assets - (22.3)% | (83,655,216) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 374,022,169 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | Represents annualized seven-day yield at July 31, 2026. |
| (c) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $329,678,675. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Depreciation |
||||||||||||||
| Total return of common shares of Palantir Technologies, Inc. |
SOFR + 3.1500% | Goldman Sachs | 12/10/2026 | 663,156 | $ | 84,486,766 | $ | (3,339,685) | ||||||||||||
| Total return of common shares of Palantir Technologies, Inc. |
SOFR + 2.8500% | Bank of America Merrill Lynch | 12/11/2026 | 2,518,902 | 314,077,870 | (8,171,426) | ||||||||||||||
| Total return of common shares of Palantir Technologies, Inc. |
SOFR + 3.7500% | Nomura | 12/11/2026 | 628,619 | 118,123,796 | (46,420,240) | ||||||||||||||
| Total return of common shares of Palantir Technologies, Inc. |
SOFR + 3.7500% | Citibank N.A. | 12/22/2026 | 525,005 | 76,229,547 | (12,539,619) | ||||||||||||||
| Total return of common shares of Palantir Technologies, Inc. |
SOFR + 2.8900% | Barclays | 12/22/2026 | 1,148,822 | 153,394,509 | (14,225,725) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 746,312,488 | $ | (84,696,695) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily PYPL Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 16.7% |
||||||||
| Telecommunications - 16.7% |
||||||||
| 5,500 | PayPal Holdings, Inc. | $ | 314,656 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $243,205) | $ | 314,656 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 127.5% |
||||||||
| 1,095,414 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 1,095,414 | |||||
| 291,849 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 291,849 | ||||||
| 390,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 390,000 | ||||||
| 628,343 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 628,343 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $2,405,606) | $ | 2,405,606 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $2,648,811) - 144.2% (b) | $ | 2,720,262 | ||||||
| Liabilities in Excess of Other Assets - (44.2)% | (833,088) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 1,887,174 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $1,750,280. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| Total return of common shares of PayPal Holdings, Inc. |
SOFR + 3.5000% | Goldman Sachs | 12/10/2026 | 14,358 | $ | 821,421 | $ | (5,140) | ||||||||||||
| Total return of common shares of PayPal Holdings, Inc. |
SOFR + 3.5000% | Nomura | 12/11/2026 | 8,092 | 472,168 | (9,876) | ||||||||||||||
| Total return of common shares of PayPal Holdings, Inc. |
SOFR + 4.7500% | Citibank N.A. | 12/22/2026 | 15,737 | 808,856 | 75,174 | ||||||||||||||
| Total return of common shares of PayPal Holdings, Inc. |
SOFR + 4.2500% | Barclays | 12/22/2026 | 22,287 | 1,300,446 | (25,971) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 3,402,891 | $ | 34,187 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily QCOM Bear 1X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 82.8% |
||||||||
| Money Market Funds - 82.8% |
||||||||
| 1,448,403 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 1,448,403 | |||||
| 39,302 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 39,302 | ||||||
| 220,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 220,000 | ||||||
| 408,842 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 408,842 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $2,116,547) (b) | $ | 2,116,547 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $2,116,547) - 82.8% | $ | 2,116,547 | ||||||
| Other Assets in Excess of Liabilities - 17.2% | 440,379 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 2,556,926 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $668,145. |
| Short Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation |
||||||||||||||
| SOFR + 0.0000% |
Total return of common shares of Qualcomm, Inc. | Goldman Sachs | 12/10/2026 | 2,214 | $ | 451,619 | $ | 125,966 | ||||||||||||
| SOFR + 0.0000% |
Total return of common shares of Qualcomm, Inc. | Bank of America Merrill Lynch | 12/11/2026 | 4,548 | 741,534 | 72,872 | ||||||||||||||
| SOFR + (2.0000)% |
Total return of common shares of Qualcomm, Inc. | Citibank N.A. | 12/22/2026 | 6,170 | 960,505 | 49,840 | ||||||||||||||
| SOFR + 1.5000% |
Total return of common shares of Qualcomm, Inc. | Barclays | 12/22/2026 | 4,388 | 862,043 | 219,425 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 3,015,701 | $ | 468,103 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily QCOM Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 23.5% |
||||||||
| Computer and Electronic Product Manufacturing - 23.5% |
||||||||
| 28,600 | Qualcomm, Inc. | $ | 4,221,646 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $5,330,688) | $ | 4,221,646 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 138.5% |
||||||||
| 2,587,258 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 2,587,258 | |||||
| 11,661,947 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 11,661,947 | ||||||
| 8,750,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 8,750,000 | ||||||
| 1,873,952 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 1,873,952 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $24,873,157) | $ | 24,873,157 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $30,203,845) - 162.0% (b) | $ | 29,094,803 | ||||||
| Liabilities in Excess of Other Assets - (62.0)% | (11,141,005) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 17,953,798 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $22,285,900. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Depreciation |
||||||||||||||
| Total return of common shares of Qualcomm, Inc. |
SOFR + 3.0000% | Goldman Sachs | 12/10/2026 | 93,064 | $ | 19,766,197 | $ | (6,235,541) | ||||||||||||
| Total return of common shares of Qualcomm, Inc. |
SOFR + 3.0000% | Bank of America Merrill Lynch | 12/11/2026 | 18,760 | 2,848,977 | (148,001) | ||||||||||||||
| Total return of common shares of Qualcomm, Inc. |
SOFR + 3.7500% | Citibank N.A. | 12/22/2026 | 6,443 | 1,097,889 | (148,130) | ||||||||||||||
| Total return of common shares of Qualcomm, Inc. |
SOFR + 3.0000% | Barclays | 12/22/2026 | 96,343 | 18,683,410 | (4,634,382) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 42,396,473 | $ | (11,166,054) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Robotics, Artificial Intelligence & Automation Index Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| INVESTMENT COMPANIES - 42.9% |
||||||||
| 289,097 | Global X Robotics & Artificial Intelligence ETF (a)(b) | $ | 10,181,996 | |||||
|
|
|
| ||||||
| TOTAL INVESTMENT COMPANIES (Cost $8,935,009) | $ | 10,181,996 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 63.7% |
||||||||
| Money Market Funds - 63.7% |
||||||||
| 7,397,394 | Dreyfus Government Cash Management Institutional Shares, 3.56% (c)(d) | $ | 7,397,394 | |||||
| 1,709,302 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (c) | 1,709,302 | ||||||
| 6,008,447 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (c) | 6,008,447 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $15,115,143) | $ | 15,115,143 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $24,050,152) - 106.6% (e) | $ | 25,297,139 | ||||||
| Liabilities in Excess of Other Assets - (6.6)% | (1,575,596) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 23,721,543 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Shareholders may obtain the financial statements of these investment companies at www.sec.gov. |
| (b) | A portion of this security represents a security on loan. |
| (c) | Represents annualized seven-day yield at July 31, 2026. |
| (d) | All or a portion of this security represents an investment of securities lending collateral. |
| (e) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $13,578,387. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| Total return of Indxx Global Robotics and Artificial Intelligence Thematic Index |
SOFR + 0.6500% | J.P. Morgan | 12/16/2026 | 408,538 | $ | 14,983,027 | $ | (879,410) | ||||||||||||
| Total return of Indxx Global Robotics and Artificial Intelligence Thematic Index |
SOFR + 0.8900% | UBS Securities LLC | 12/17/2026 | 125,489 | 4,392,115 | (74,310) | ||||||||||||||
| Total return of Indxx Global Robotics and Artificial Intelligence Thematic Index |
SOFR + 0.8500% | Citibank N.A. | 12/22/2026 | 242,783 | 8,817,852 | (433,299) | ||||||||||||||
| Total return of Indxx Global Robotics and Artificial Intelligence Thematic Index |
SOFR + 0.7500% | Barclays | 12/22/2026 | 281,052 | 9,653,489 | 155,410 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 37,846,483 | $ | (1,231,609) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily S&P 500® Bear 1X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 83.4% |
||||||||
| Money Market Funds - 83.4% |
||||||||
| 205,493,188 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 205,493,188 | |||||
| 32,277,652 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 32,277,652 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $237,770,840) (b) | $ | 237,770,840 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $237,770,840) - 83.4% | $ | 237,770,840 | ||||||
| Other Assets in Excess of Liabilities - 16.6% | 47,269,771 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 285,040,611 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $49,444,246. |
| Short Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| SOFR + 0.4500% |
Total return of S&P 500® Index | UBS Securities LLC | 12/17/2026 | 9,277 | $ | 60,243,962 | $ | (8,603,508) | ||||||||||||
| SOFR + 0.7000% |
Total return of S&P 500® Index | Barclays | 12/22/2026 | 28,775 | 216,214,432 | 1,284,438 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 276,458,394 | $ | (7,319,070) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily S&P 500® Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 92.0% |
||||||||
| Accommodation - 0.4% |
||||||||
| 1,577 | Airbnb, Inc. Class A (a) | $ | 238,947 | |||||
| 858 | Hilton Worldwide Holdings, Inc. | 274,981 | ||||||
| 2,403 | Host Hotels & Resorts, Inc. | 60,387 | ||||||
| 1,125 | Las Vegas Sands Corp. | 55,001 | ||||||
| 826 | Marriott International, Inc. Class C | 307,958 | ||||||
| 724 | MGM Resorts International (a) | 32,269 | ||||||
| 317 | Wynn Resorts Ltd. (b) | 31,481 | ||||||
|
|
|
| ||||||
| 1,001,024 | ||||||||
|
|
|
| ||||||
| Administrative and Support Services - 2.2% |
||||||||
| 324 | Allegion PLC ADR (Ireland) | 50,998 | ||||||
| 1,744 | Amcor PLC ADR (United Kingdom) (b) | 78,271 | ||||||
| 339 | Ameriprise Financial, Inc. | 185,040 | ||||||
| 1,508 | Automatic Data Processing, Inc. | 401,822 | ||||||
| 2,924 | Booking Holdings, Inc. | 564,040 | ||||||
| 436 | Broadridge Financial Solutions, Inc. | 67,122 | ||||||
| 247 | Corpay, Inc. (a) | 94,381 | ||||||
| 450 | Equifax, Inc. | 77,679 | ||||||
| 137 | FactSet Research System, Inc. | 36,058 | ||||||
| 253 | Gartner, Inc. (a) | 38,208 | ||||||
| 1,123 | Iron Mountain, Inc. | 137,365 | ||||||
| 597 | Live Nation Entertainment, Inc. (a)(b) | 103,956 | ||||||
| 567 | Moody’s Corp. | 271,241 | ||||||
| 1,190 | Paramount Skydance Corp. | 9,472 | ||||||
| 789 | Qnity Electronics, Inc. | 103,501 | ||||||
| 1,108 | Rollins, Inc. | 42,071 | ||||||
| 941 | Royal Caribbean Cruises Ltd. ADR (Liberia) | 299,520 | ||||||
| 7,680 | Uber Technologies, Inc. (a) | 540,365 | ||||||
| 6,262 | Visa, Inc. Class A | 2,292,706 | ||||||
| 1,394 | Waste Management, Inc. | 315,811 | ||||||
|
|
|
| ||||||
| 5,709,627 | ||||||||
|
|
|
| ||||||
| Air Transportation - 0.2% |
||||||||
| 2,466 | Delta Air Lines, Inc. | 215,627 | ||||||
| 1,845 | Southwest Airlines Co. (b) | 82,970 | ||||||
| 1,224 | United Continental Holdings, Inc. (a) | 148,508 | ||||||
|
|
|
| ||||||
| 447,105 | ||||||||
|
|
|
| ||||||
| Ambulatory Health Care Services - 0.1% |
||||||||
| 121 | DaVita, Inc. (a) | 29,051 | ||||||
| 310 | Labcorp Holdings, Inc. | 95,852 | ||||||
| 417 | Quest Diagnostics, Inc. | 97,165 | ||||||
| 4,394 | Viatris, Inc. | 77,159 | ||||||
|
|
|
| ||||||
| 299,227 | ||||||||
|
|
|
| ||||||
| Amusement, Gambling, and Recreation Industries - 0.2% |
||||||||
| 6,552 | The Walt Disney Co. | 630,237 | ||||||
|
|
|
| ||||||
| Apparel Manufacturing - 0.1% |
||||||||
| 1,283 | Cintas Corp. | 262,540 | ||||||
| 535 | Deckers Outdoor Corp. (a) | 51,831 | ||||||
| 145 | Ralph Lauren Corp. | 55,149 | ||||||
|
|
|
| ||||||
| 369,520 | ||||||||
|
|
|
| ||||||
| Beverage and Tobacco Product Manufacturing - 1.1% |
||||||||
| 6,300 | Altria Group, Inc. | 430,479 | ||||||
| 526 | Constellation Brands, Inc. Class A | 68,501 | ||||||
| 5,133 | Keurig Dr Pepper, Inc. | 159,739 | ||||||
| 605 | Molson Coors Brewing Co. Class B | 25,144 | ||||||
| 2,694 | Monster Beverage Corp. (a) | 259,648 | ||||||
| 5,157 | PepsiCo, Inc. | 719,711 | ||||||
| 5,881 | Philip Morris International, Inc. | 1,122,212 | ||||||
|
|
|
| ||||||
| 2,785,434 | ||||||||
|
|
|
| ||||||
| Broadcasting and Content Providers - 0.3% |
||||||||
| 316 | Charter Communications, Inc. (a)(b) | 45,814 | ||||||
| 13,442 | Comcast Corp. Class A | 322,070 | ||||||
| 753 | FOX Corp. Class A | 43,847 | ||||||
| 525 | FOX Corp. Class B | 27,269 | ||||||
| 237 | TKO Group Holdings, Inc. | 43,089 | ||||||
| 9,351 | Warner Bros Discovery, Inc. (a) | 245,931 | ||||||
|
|
|
| ||||||
| 728,020 | ||||||||
|
|
|
| ||||||
| Building Material and Garden Equipment and Supplies Dealers - 0.7% |
||||||||
| 2,113 | Lowe’s Companies, Inc. | 439,102 | ||||||
| 3,758 | The Home Depot, Inc. | 1,247,506 | ||||||
| 1,978 | Tractor Supply Co. | 60,863 | ||||||
|
|
|
| ||||||
| 1,747,471 | ||||||||
|
|
|
| ||||||
| Chemical Manufacturing - 5.3% |
||||||||
| 6,666 | AbbVie, Inc. | 1,672,766 | ||||||
| 840 | Air Products & Chemicals, Inc. | 247,708 | ||||||
| 445 | Albemarle Corp. | 52,350 | ||||||
| 2,036 | Amgen, Inc. | 784,186 | ||||||
| 557 | Biogen, Inc. (a) | 113,043 | ||||||
| 591 | Bio-Techne Corp. | 42,605 | ||||||
| 7,704 | Bristol-Myers Squibb Co. | 503,148 | ||||||
| 579 | CF Industries Holdings, Inc. | 72,485 | ||||||
| 894 | Church & Dwight Co., Inc. | 88,336 | ||||||
| 456 | Clorox Co. | 43,562 | ||||||
| 3,019 | Colgate-Palmolive Co. | 275,635 | ||||||
| 514 | DuPont de Nemours, Inc. | 70,418 | ||||||
| 956 | Ecolab, Inc. | 265,414 | ||||||
| 2,984 | Eli Lilly & Co. | 3,428,138 | ||||||
| 4,684 | Gilead Sciences, Inc. | 609,904 | ||||||
| 634 | Incyte Corp. (a) | 75,776 | ||||||
| 2,133 | IntercontinentalExchange, Inc. | 325,240 | ||||||
| 963 | International Flavors & Fragrances, Inc. | 76,289 | ||||||
| 7,244 | Kenvue, Inc. | 139,374 | ||||||
| 1,253 | Kimberly-Clark Corp. | 136,965 | ||||||
| 1,744 | Linde PLC ADR (Ireland) | 834,295 | ||||||
| 975 | LyondellBasell Industries N.V. Class A ADR (Netherlands) | 60,528 | ||||||
| 9,319 | Merck & Co., Inc. | 1,213,334 | ||||||
| 1,199 | Mosaic Co. | 26,522 | ||||||
| 21,504 | Pfizer, Inc. | 537,815 | ||||||
| 841 | PPG Industries, Inc. | 92,947 | ||||||
| 8,785 | Procter & Gamble Co. | 1,269,345 | ||||||
| 377 | Regeneron Pharmaceuticals, Inc. | 287,511 | ||||||
| 958 | Vertex Pharmaceuticals, Inc. (a) | 457,062 | ||||||
| 1,582 | Zoetis, Inc. | 122,273 | ||||||
|
|
|
| ||||||
| 13,924,974 | ||||||||
|
|
|
| ||||||
| Clothing, Clothing Accessories, Shoe, and Jewelry Retailers - 0.4% |
||||||||
| 395 | Lululemon Athletica, Inc. (a) | 46,954 | ||||||
| 1,215 | Ross Stores, Inc. | 305,050 | ||||||
| 4,172 | TJX Companies, Inc. | 656,422 | ||||||
|
|
|
| ||||||
| 1,008,426 | ||||||||
|
|
|
| ||||||
| Computer and Electronic Product Manufacturing - 32.3% |
||||||||
| 6,153 | Advanced Micro Devices, Inc. (a) | 2,929,751 | ||||||
| 1,067 | Agilent Technologies, Inc. | 147,641 | ||||||
| 22,123 | Alphabet, Inc. | 7,878,664 | ||||||
| 17,832 | Alphabet, Inc. Class C | 6,359,783 | ||||||
| 865 | AMETEK, Inc. | 209,079 | ||||||
| 4,642 | Amphenol Corp. Class A | 745,969 | ||||||
| 1,842 | Analog Devices, Inc. | 676,769 | ||||||
| 55,413 | Apple, Inc. | 17,117,630 | ||||||
| 2,995 | Applied Materials, Inc. | 1,520,472 | ||||||
| 3,896 | Arista Networks, Inc. (a) | 702,644 | ||||||
| 17,864 | Broadcom, Inc. | 6,954,098 | ||||||
| 14,902 | Cisco Systems, Inc. | 1,728,483 | ||||||
| 2,377 | Danaher Corp. | 463,467 | ||||||
| 1,092 | Dell Technologies, Inc. | 442,664 | ||||||
| 514 | EchoStar Corp. (a) | 43,222 | ||||||
| 406 | First Solar, Inc. (a) | 85,678 | ||||||
| 1,388 | Flex Ltd. (Singapore) ADR (a) | 157,885 | ||||||
| 2,350 | Fortinet, Inc. (a) | 380,582 | ||||||
| 1,150 | Fortive Corp. | 68,091 | ||||||
| 1,716 | GE HealthCare Technologies, Inc. | 116,722 | ||||||
| 3,451 | HP, Inc. | 94,109 | ||||||
| 17,825 | Intel Corp. (a) | 1,607,815 | ||||||
| 3,546 | International Business Machines Corp. | 793,063 | ||||||
| 398 | Jabil Circuit, Inc. | 125,390 | ||||||
| 647 | Keysight Technologies, Inc. (a) | 206,445 | ||||||
| 703 | L3Harris Technologies, Inc. | 194,773 | ||||||
| 4,718 | Lam Research Corp. | 1,382,468 | ||||||
| 294 | Lumentum Holdings, Inc. (a) | 209,898 | ||||||
| 3,303 | Marvell Technology, Inc. | 619,511 | ||||||
| 2,042 | Microchip Technology, Inc. | 151,700 | ||||||
| 4,255 | Micron Technology, Inc. | 3,501,993 | ||||||
| 185 | Monolithic Power Systems, Inc. | 263,815 | ||||||
| 626 | Motorola Solutions, Inc. | 272,779 | ||||||
| 744 | NetApp, Inc. | 132,804 | ||||||
| 504 | Northrop Grumman Corp. | 273,410 | ||||||
| 91,380 | NVIDIA Corp. | 18,344,535 | ||||||
| 953 | NXP Semiconductors NV ADR (Netherlands) | 218,389 | ||||||
| 1,479 | ON Semiconductor Corp. (a) | 120,701 | ||||||
| 1,448 | Otis Worldwide Corp. | 104,184 | ||||||
| 3,060 | Palo Alto Networks, Inc. (a) | 1,015,400 | ||||||
| 3,977 | Qualcomm, Inc. | 587,045 | ||||||
| 421 | Revvity, Inc. | 47,371 | ||||||
| 381 | Roper Technologies, Inc. | 149,341 | ||||||
| 5,081 | RTX Corp. | 1,093,533 | ||||||
| 558 | Sandisk Corp. (a) | 677,875 | ||||||
| 846 | Seagate Technology Holdings PLC ADR (Ireland) | 724,286 | ||||||
| 568 | Skyworks Solutions, Inc. (b) | 35,375 | ||||||
| 2,115 | Super Micro Computer, Inc. (a)(b) | 60,066 | ||||||
| 175 | Teledyne Technologies, Inc. (a) | 114,725 | ||||||
| 591 | Teradyne, Inc. | 217,305 | ||||||
| 3,434 | Texas Instruments, Inc. | 946,891 | ||||||
| 1,402 | Thermo Fisher Scientific, Inc. | 805,169 | ||||||
| 879 | Trimble, Inc. (a) | 49,734 | ||||||
| 926 | Veralto Corp. | 87,201 | ||||||
| 1,449 | Vertiv Holdings Co. | 350,035 | ||||||
| 370 | Waters Corp. (a) | 139,605 | ||||||
| 1,301 | Western Digital Corp. | 708,837 | ||||||
| 180 | Zebra Technologies Corp. Class A (a)(b) | 52,888 | ||||||
|
|
|
| ||||||
| 85,209,758 | ||||||||
|
|
|
| ||||||
| Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services - 0.1% |
||||||||
| 738 | Coherent Corp. (a) | 194,013 | ||||||
| 2,012 | Fiserv, Inc. (a) | 108,527 | ||||||
|
|
|
| ||||||
| 302,540 | ||||||||
|
|
|
| ||||||
| Construction of Buildings - 0.1% |
||||||||
| 995 | D.R. Horton, Inc. | 142,345 | ||||||
| 812 | Lennar Corp. Class A | 66,868 | ||||||
| 10 | NVR, Inc. (a) | 61,471 | ||||||
| 718 | PulteGroup, Inc. | 90,805 | ||||||
|
|
|
| ||||||
| 361,489 | ||||||||
|
|
|
| ||||||
| Couriers and Messengers - 0.2% |
||||||||
| 828 | FedEx Corp. | 254,527 | ||||||
| 2,817 | United Parcel Service, Inc. Class B | 293,588 | ||||||
|
|
|
| ||||||
| 548,115 | ||||||||
|
|
|
| ||||||
| Credit Intermediation and Related Activities - 4.8% |
||||||||
| 2,008 | American Express Co. | 675,190 | ||||||
| 24,632 | Bank of America Corp. | 1,525,952 | ||||||
| 2,590 | Bank of New York Mellon Corp. | 404,895 | ||||||
| 2,347 | Capital One Financial Corp. | 490,546 | ||||||
| 6,435 | Citigroup, Inc. | 852,316 | ||||||
| 1,596 | Citizens Financial Group, Inc. | 114,353 | ||||||
| 840 | Coinbase Global, Inc. (a) | 122,858 | ||||||
| 1,950 | Fidelity National Information Services, Inc. | 87,302 | ||||||
| 3,419 | Fifth Third Bancorp | 193,174 | ||||||
| 877 | Global Payments, Inc. | 73,738 | ||||||
| 7,648 | Huntington Bancshares, Inc. | 130,322 | ||||||
| 10,109 | JPMorgan Chase & Co. | 3,556,245 | ||||||
| 3,477 | KeyCorp | 78,545 | ||||||
| 552 | M&T Bank Corp. | 135,952 | ||||||
| 3,044 | MasterCard, Inc. Class A | 1,744,516 | ||||||
| 698 | Northern Trust Corp. | 127,169 | ||||||
| 1,515 | PNC Financial Services Group, Inc. | 378,553 | ||||||
| 3,220 | Regions Financial Corp. | 99,659 | ||||||
| 1,045 | State Street Corp. | 192,447 | ||||||
| 1,269 | Synchrony Financial | 96,178 | ||||||
| 4,700 | Truist Financial Corp. | 243,648 | ||||||
| 5,857 | U.S. Bancorp | 369,050 | ||||||
| 11,546 | Wells Fargo & Co. | 998,152 | ||||||
|
|
|
| ||||||
| 12,690,760 | ||||||||
|
|
|
| ||||||
| Electrical Equipment, Appliance, and Component Manufacturing - 0.3% |
||||||||
| 422 | A.O. Smith Corp. (b) | 25,375 | ||||||
| 304 | Axon Enterprise, Inc. (a)(b) | 160,439 | ||||||
| 2,113 | Emerson Electric Co. | 316,570 | ||||||
| 222 | Generac Holdings, Inc. (a) | 43,758 | ||||||
| 419 | Rockwell Automation, Inc. | 201,153 | ||||||
|
|
|
| ||||||
| 747,295 | ||||||||
|
|
|
| ||||||
| Fabricated Metal Product Manufacturing - 0.2% |
||||||||
| 1,005 | Ball Corp. | 65,225 | ||||||
| 860 | Nucor Corp. | 221,269 | ||||||
| 610 | Pentair PLC ADR (Ireland) | 39,918 | ||||||
| 196 | Snap-on, Inc. | 80,440 | ||||||
| 587 | Stanley Black & Decker, Inc. (b) | 55,519 | ||||||
|
|
|
| ||||||
| 462,371 | ||||||||
|
|
|
| ||||||
| Food and Beverage Retailers - 0.1% |
||||||||
| 2,140 | Kroger Co. | 123,564 | ||||||
|
|
|
| ||||||
| Food Manufacturing - 0.8% |
||||||||
| 1,818 | Archer-Daniels-Midland Co. | 144,113 | ||||||
| 14,610 | Coca-Cola Co. | 1,279,690 | ||||||
| 2,014 | General Mills, Inc. | 72,001 | ||||||
| 1,100 | Hormel Foods Corp. | 27,511 | ||||||
| 958 | McCormick & Co, Inc. (b) | 48,762 | ||||||
| 4,843 | Mondelez International, Inc. | 301,767 | ||||||
| 559 | The Hershey Co. | 97,853 | ||||||
| 403 | The J.M. Smucker Co. | 48,062 | ||||||
| 3,222 | The Kraft Heinz Co. | 83,289 | ||||||
| 1,064 | Tyson Foods, Inc. Class A | 61,669 | ||||||
|
|
|
| ||||||
| 2,164,717 | ||||||||
|
|
|
| ||||||
| Food Services and Drinking Places - 0.8% |
||||||||
| 139 | Casey’s General Stores, Inc. | 121,069 | ||||||
| 4,839 | Chipotle Mexican Grill, Inc. (a) | 180,108 | ||||||
| 432 | Darden Restaurants, Inc. | 87,946 | ||||||
| 1,427 | DoorDash, Inc. (a) | 279,920 | ||||||
| 2,681 | McDonald’s Corp. | 725,586 | ||||||
| 4,300 | Starbucks Corp. | 452,575 | ||||||
| 1,039 | Yum! Brands, Inc. | 159,258 | ||||||
|
|
|
| ||||||
| 2,006,462 | ||||||||
|
|
|
| ||||||
| Funds, Trusts, and Other Financial Vehicles - 0.1% |
||||||||
| 618 | Garmin Ltd. ADR (Switzerland) | 181,556 | ||||||
| 808 | T. Rowe Price Group, Inc. | 90,294 | ||||||
|
|
|
| ||||||
| 271,850 | ||||||||
|
|
|
| ||||||
| Furniture, Home Furnishings, Electronics, and Appliance Retailers - 0.0%(†) |
||||||||
| 739 | Best Buy Co., Inc. | 63,746 | ||||||
|
|
|
| ||||||
| Gasoline Stations and Fuel Dealers - 0.5% |
||||||||
| 7,063 | Chevron Corp. | 1,390,210 | ||||||
|
|
|
| ||||||
| General Merchandise Retailers - 5.4% |
||||||||
| 36,933 | Amazon.com, Inc. (a) | 10,030,264 | ||||||
| 1,674 | Costco Wholesale Corp. | 1,593,464 | ||||||
| 831 | Dollar General Corp. | 105,579 | ||||||
| 683 | Dollar Tree, Inc. (a) | 86,884 | ||||||
| 1,675 | eBay, Inc. | 190,967 | ||||||
| 1,714 | Target Corp. | 247,656 | ||||||
| 16,541 | Walmart, Inc. | 1,839,359 | ||||||
| 444 | Williams-Sonoma, Inc. | 101,525 | ||||||
|
|
|
| ||||||
| 14,195,698 | ||||||||
|
|
|
| ||||||
| Health and Personal Care Retailers - 0.2% |
||||||||
| 4,814 | CVS Health Corp. | 502,726 | ||||||
| 164 | Ulta Beauty, Inc. (a) | 84,104 | ||||||
|
|
|
| ||||||
| 586,830 | ||||||||
|
|
|
| ||||||
| Hospitals - 0.1% |
||||||||
| 586 | HCA Healthcare, Inc. | 235,918 | ||||||
| 201 | Universal Health Services, Inc. Class B | 33,856 | ||||||
|
|
|
| ||||||
| 269,774 | ||||||||
|
|
|
| ||||||
| Insurance Carriers and Related Activities - 3.7% |
||||||||
| 1,728 | Aflac, Inc. | 220,285 | ||||||
| 971 | Allstate Corp. | 256,422 | ||||||
| 2,000 | American International Group, Inc. | 157,160 | ||||||
| 1,313 | Arch Capital Group Ltd. ADR (a) | 131,996 | ||||||
| 969 | Arthur J. Gallagher & Co. | 241,688 | ||||||
| 187 | Assurant, Inc. | 52,209 | ||||||
| 6,917 | Berkshire Hathaway, Inc. Class B (a) | 3,538,322 | ||||||
| 1,100 | Brown & Brown, Inc. (b) | 77,440 | ||||||
| 1,770 | Centene Corp. (a) | 110,129 | ||||||
| 1,361 | Chubb Limited ADR (Switzerland) | 477,275 | ||||||
| 998 | Cigna Corp. | 278,492 | ||||||
| 583 | Cincinnati Financial Corp. | 103,587 | ||||||
| 820 | Elevance Health, Inc. | 308,189 | ||||||
| 96 | Erie Indemnity Co. Class A (b) | 23,236 | ||||||
| 150 | Everest Re Group Ltd. ADR | 56,122 | ||||||
| 293 | Globe Life, Inc. | 53,399 | ||||||
| 453 | Humana, Inc. | 164,829 | ||||||
| 637 | Loews Corp. | 73,898 | ||||||
| 1,817 | Marsh & McLennan Companies, Inc. | 344,667 | ||||||
| 2,039 | MetLife, Inc. | 196,009 | ||||||
| 741 | Principal Financial Group, Inc. | 84,252 | ||||||
| 2,204 | Progressive Corp. | 465,970 | ||||||
| 1,309 | Prudential Financial, Inc. | 159,803 | ||||||
| 1,034 | The Hartford Insurance Group, Inc. | 146,735 | ||||||
| 802 | Travelers Companies, Inc. | 300,237 | ||||||
| 3,427 | UnitedHealth Group, Inc. | 1,420,149 | ||||||
| 1,109 | W.R. Berkley Corp. | 80,447 | ||||||
| 357 | Willis Towers Watson PLC ADR (Ireland) | 119,923 | ||||||
|
|
|
| ||||||
| 9,642,870 | ||||||||
|
|
|
| ||||||
| Leather and Allied Product Manufacturing - 0.1% |
||||||||
| 4,526 | NIKE, Inc. Class B | 188,779 | ||||||
| 762 | Tapestry, Inc. | 116,106 | ||||||
|
|
|
| ||||||
| 304,885 | ||||||||
|
|
|
| ||||||
| Machinery Manufacturing - 2.1% |
||||||||
| 3,743 | Baker Hughes Co. | 226,414 | ||||||
| 2,946 | Carrier Global Corp. | 182,092 | ||||||
| 1,738 | Caterpillar, Inc. | 1,416,140 | ||||||
| 521 | Cummins, Inc. | 330,418 | ||||||
| 947 | Deere & Co. | 561,258 | ||||||
| 3,937 | GE Aerospace | 1,417,596 | ||||||
| 279 | IDEX Corp. | 64,296 | ||||||
| 1,344 | Ingersoll Rand, Inc. | 112,063 | ||||||
| 76 | Mettler-Toledo International, Inc. (a) | 107,639 | ||||||
| 200 | Nordson Corp. | 59,556 | ||||||
| 476 | Parker Hannifin Corp. | 464,828 | ||||||
| 834 | Trane Technologies PLC ADR (Ireland) | 379,428 | ||||||
| 897 | Xylem, Inc. | 104,922 | ||||||
|
|
|
| ||||||
| 5,426,650 | ||||||||
|
|
|
| ||||||
| Management of Companies and Enterprises - 0.4% |
||||||||
| 6,572 | Abbott Laboratories | 694,660 | ||||||
| 806 | Aon PLC ADR (United Kingdom) | 290,603 | ||||||
| 512 | Bunge Global SA ADR (Switzerland) | 54,390 | ||||||
| 1,733 | Norwegian Cruise Line Holdings Ltd. (a) | 32,113 | ||||||
| 1,978 | Smurfit WestRock PLC ADR (Ireland) | 90,929 | ||||||
|
|
|
| ||||||
| 1,162,695 | ||||||||
|
|
|
| ||||||
| Merchant Wholesalers, Durable Goods - 0.9% |
||||||||
| 406 | Builders FirstSource, Inc. (a) | 26,975 | ||||||
| 3,344 | Copart, Inc. (a) | 97,377 | ||||||
| 4,331 | Fastenal Co. | 206,632 | ||||||
| 520 | Genuine Parts Co. | 64,672 | ||||||
| 365 | Henry Schein, Inc. (a) | 31,299 | ||||||
| 200 | Hubbell, Inc. | 94,510 | ||||||
| 148 | Huntington Ingalls Industries, Inc. | 48,314 | ||||||
| 2,301 | Johnson Controls International PLC ADR (Ireland) | 337,465 | ||||||
| 4,928 | KLA-Tencor Corp. | 900,937 | ||||||
| 119 | Lennox International, Inc. | 49,490 | ||||||
| 1,101 | TE Connectivity PLC ADR (Ireland) | 226,465 | ||||||
| 164 | W.W. Grainger, Inc. | 226,684 | ||||||
|
|
|
| ||||||
| 2,310,820 | ||||||||
|
|
|
| ||||||
| Merchant Wholesalers, Nondurable Goods - 0.6% |
||||||||
| 635 | Brown Forman Corp. Class B | 18,243 | ||||||
| 884 | Cardinal Health, Inc. | 203,346 | ||||||
| 734 | Cencora, Inc. | 228,524 | ||||||
| 115 | Domino’s Pizza, Inc. | 39,956 | ||||||
| 988 | Illinois Tool Works, Inc. | 283,507 | ||||||
| 454 | McKesson Corp. | 388,710 | ||||||
| 1,804 | Sysco Corp. | 153,773 | ||||||
| 866 | The Sherwin Williams Co. | 295,176 | ||||||
|
|
|
| ||||||
| 1,611,235 | ||||||||
|
|
|
| ||||||
| Mining (except Oil and Gas) - 0.4% |
||||||||
| 5,424 | Freeport-McMoRan Copper & Gold, Inc. | 339,705 | ||||||
| 227 | Martin Marietta Materials, Inc. | 119,207 | ||||||
| 4,028 | Newmont Corp. | 377,464 | ||||||
| 489 | Vulcan Materials Co. | 131,330 | ||||||
|
|
|
| ||||||
| 967,706 | ||||||||
|
|
|
| ||||||
| Miscellaneous Manufacturing - 2.1% |
||||||||
| 1,968 | 3M Co. | 346,919 | ||||||
| 251 | Align Technology, Inc. (a) | 42,459 | ||||||
| 1,949 | Baxter International, Inc. (b) | 50,986 | ||||||
| 1,039 | Becton, Dickinson & Co. | 172,079 | ||||||
| 5,608 | Boston Scientific Corp. (a) | 262,062 | ||||||
| 1,456 | DexCom, Inc. (a) | 121,503 | ||||||
| 508 | Dover Corp. | 103,947 | ||||||
| 2,173 | Edwards Lifesciences Corp. (a) | 187,030 | ||||||
| 933 | Estee Lauder Companies, Inc. Class A | 78,279 | ||||||
| 507 | Hasbro, Inc. | 47,628 | ||||||
| 261 | Insulet Corp. (a) | 43,156 | ||||||
| 1,336 | Intuitive Surgical, Inc. (a) | 472,049 | ||||||
| 9,082 | Johnson & Johnson | 2,328,171 | ||||||
| 4,844 | Medtronic PLC ADR (Ireland) | 413,629 | ||||||
| 547 | ResMed, Inc. | 115,406 | ||||||
| 555 | Solventum Corp. (a) | 47,419 | ||||||
| 370 | Steris PLC ADR (Ireland) | 84,508 | ||||||
| 1,302 | Stryker Corp. | 424,061 | ||||||
| 656 | Textron, Inc. | 55,931 | ||||||
| 736 | The Cooper Companys, Inc. (a) | 53,227 | ||||||
| 730 | Zimmer Biomet Holdings, Inc. | 68,569 | ||||||
|
|
|
| ||||||
| 5,519,018 | ||||||||
|
|
|
| ||||||
| Motion Picture and Sound Recording Industries - 0.4% |
||||||||
| 15,886 | Netflix, Inc. (a) | 1,139,185 | ||||||
|
|
|
| ||||||
| Motor Vehicle and Parts Dealers - 0.2% |
||||||||
| 62 | AutoZone, Inc. (a) | 187,008 | ||||||
| 2,703 | Carvana Co. (a) | 168,559 | ||||||
| 3,126 | O’Reilly Automotive, Inc. (a) | 279,308 | ||||||
|
|
|
| ||||||
| 634,875 | ||||||||
|
|
|
| ||||||
| National Security and International Affairs - 0.0%(†) |
||||||||
| 475 | Leidos Holdings, Inc. | 54,910 | ||||||
|
|
|
| ||||||
| Nonmetallic Mineral Product Manufacturing - 0.2% |
||||||||
| 2,955 | Corning, Inc. | 408,529 | ||||||
|
|
|
| ||||||
| Oil and Gas Extraction - 1.3% |
||||||||
| 1,333 | APA Corp. | 49,748 | ||||||
| 4,350 | Devon Energy Corp. | 196,316 | ||||||
| 732 | Diamondback Energy, Inc. | 148,559 | ||||||
| 2,010 | EOG Resources, Inc. | 298,867 | ||||||
| 2,360 | EQT Corp. | 125,764 | ||||||
| 902 | Expand Energy Corp. | 84,815 | ||||||
| 15,639 | ExxonMobil Holdings Corp. | 2,430,926 | ||||||
| 2,740 | Occidental Petroleum Corp. | 156,372 | ||||||
|
|
|
| ||||||
| 3,491,367 | ||||||||
|
|
|
| ||||||
| Paper Manufacturing - 0.0%(†) |
||||||||
| 334 | Packaging Corp of America | 82,111 | ||||||
|
|
|
| ||||||
| Performing Arts, Spectator Sports, and Related Industries - 0.1% |
||||||||
| 850 | Electronic Arts, Inc. | 178,381 | ||||||
|
|
|
| ||||||
| Petroleum and Coal Products Manufacturing - 0.6% |
||||||||
| 4,597 | ConocoPhillips | 553,847 | ||||||
| 1,101 | Marathon Petroleum Corp. | 348,433 | ||||||
| 1,513 | Phillips 66 | 320,272 | ||||||
| 1,120 | Valero Energy Corp. | 350,448 | ||||||
|
|
|
| ||||||
| 1,573,000 | ||||||||
|
|
|
| ||||||
| Pipeline Transportation - 0.2% |
||||||||
| 809 | Targa Resources Corp. | 218,729 | ||||||
| 4,614 | Williams Cos., Inc. | 330,086 | ||||||
|
|
|
| ||||||
| 548,815 | ||||||||
|
|
|
| ||||||
| Plastics and Rubber Products Manufacturing - 0.1% |
||||||||
| 289 | Avery Dennison Corp. | 49,052 | ||||||
| 267 | West Pharmaceutical Services, Inc. | 91,036 | ||||||
|
|
|
| ||||||
| 140,088 | ||||||||
|
|
|
| ||||||
| Primary Metal Manufacturing - 0.2% |
||||||||
| 1,510 | Howmet Aerospace, Inc. | 426,212 | ||||||
| 511 | Steel Dynamics, Inc. | 128,394 | ||||||
|
|
|
| ||||||
| 554,606 | ||||||||
|
|
|
| ||||||
| Professional, Scientific, and Technical Services - 3.9% |
||||||||
| 2,316 | Accenture PLC Class A ADR (Ireland) | 384,271 | ||||||
| 1,015 | AppLovin Corp. (a) | 401,839 | ||||||
| 482 | CDW Corp. | 71,244 | ||||||
| 182 | Charles River Laboratories International, Inc. (a) | 42,317 | ||||||
| 533 | Ciena Corp. (a) | 200,968 | ||||||
| 1,788 | Cognizant Technology Solutions Corp. Class A | 98,966 | ||||||
| 1,465 | Eaton Corporation PLC ADR (Ireland) | 608,268 | ||||||
| 797 | Extra Space Storage, Inc. | 117,988 | ||||||
| 213 | F5 Networks, Inc. (a) | 85,747 | ||||||
| 500 | GoDaddy, Inc. (a) | 41,370 | ||||||
| 298 | IDEXX Laboratories, Inc. (a) | 166,603 | ||||||
| 1,998 | International Paper Co. | 81,578 | ||||||
| 629 | IQVIA Holdings, Inc. (a) | 147,828 | ||||||
| 268 | Jack Henry & Associates, Inc. (b) | 41,283 | ||||||
| 445 | Jacobs Solutions, Inc. | 60,044 | ||||||
| 8,286 | Meta Platforms, Inc. | 4,612,899 | ||||||
| 1,332 | Moderna, Inc. (a) | 73,020 | ||||||
| 1,075 | Omnicom Group, Inc. | 84,603 | ||||||
| 6,402 | Oracle Corp. | 831,428 | ||||||
| 8,663 | Palantir Technologies, Inc. (a) | 1,066,069 | ||||||
| 1,217 | Paychex, Inc. | 142,194 | ||||||
| 436 | PTC, Inc. (a) | 59,819 | ||||||
| 3,891 | ServiceNow, Inc. (a) | 432,796 | ||||||
| 657 | Take-Two Interactive Software, Inc. (a) | 159,598 | ||||||
| 1,611 | The Trade Desk, Inc. (a) | 29,062 | ||||||
| 310 | VeriSign, Inc. | 89,906 | ||||||
| 495 | Verisk Analytics, Inc. Class A | 96,451 | ||||||
| 769 | Workday, Inc. (a) | 123,301 | ||||||
|
|
|
| ||||||
| 10,351,460 | ||||||||
|
|
|
| ||||||
| Publishing Industries - 6.5% |
||||||||
| 1,525 | Adobe, Inc. (a) | 381,875 | ||||||
| 549 | Akamai Technologies, Inc. (a) | 63,234 | ||||||
| 797 | Autodesk, Inc. (a) | 186,657 | ||||||
| 2,019 | Block, Inc. (a) | 164,024 | ||||||
| 1,040 | Cadence Design Systems, Inc. (a) | 353,621 | ||||||
| 3,840 | CrowdStrike Holdings, Inc. (a) | 732,902 | ||||||
| 1,248 | Datadog, Inc. (a) | 334,427 | ||||||
| 88 | Fair Isaac Corp. (a)(b) | 98,821 | ||||||
| 2,080 | Gen Digital, Inc. | 57,096 | ||||||
| 5,007 | Hewlett Packard Enterprise Co. | 239,835 | ||||||
| 1,044 | Intuit, Inc. | 329,977 | ||||||
| 28,026 | Microsoft Corp. | 13,024,243 | ||||||
| 1,377 | News Corp. Class A | 37,950 | ||||||
| 455 | News Corp. Class B | 14,228 | ||||||
| 3,087 | Salesforce, Inc. | 568,070 | ||||||
| 723 | Synopsys, Inc. (a) | 281,074 | ||||||
| 159 | Tyler Technologies, Inc. (a) | 49,226 | ||||||
| 567 | Veeva Systems, Inc. (a) | 115,543 | ||||||
|
|
|
| ||||||
| 17,032,803 | ||||||||
|
|
|
| ||||||
| Rail Transportation - 0.4% |
||||||||
| 7,011 | CSX Corp. | 353,355 | ||||||
| 2,240 | Union Pacific Corp. | 654,371 | ||||||
|
|
|
| ||||||
| 1,007,726 | ||||||||
|
|
|
| ||||||
| Real Estate - 1.4% |
||||||||
| 592 | Alexandria Real Estate Equities, Inc. | 30,458 | ||||||
| 1,758 | American Tower Corp. | 304,767 | ||||||
| 524 | AvalonBay Communities, Inc. | 97,260 | ||||||
| 559 | BXP, Inc. | 39,197 | ||||||
| 380 | Camden Property Trust | 42,108 | ||||||
| 1,105 | CBRE Group, Inc. Class A (a) | 162,225 | ||||||
| 1,647 | Crown Castle, Inc. | 125,666 | ||||||
| 1,309 | Digital Realty Trust, Inc. | 246,773 | ||||||
| 1,286 | Equity Residential | 85,455 | ||||||
| 243 | Essex Property Trust, Inc. | 69,046 | ||||||
| 297 | Federal Realty Investment Trust | 36,855 | ||||||
| 2,602 | Healthpeak Properties, Inc. | 56,802 | ||||||
| 2,062 | Invitation Homes, Inc. | 61,283 | ||||||
| 2,544 | Kimco Realty Corp. | 64,821 | ||||||
| 439 | Mid-America Apartment Communities, Inc. | 58,097 | ||||||
| 3,518 | Prologis, Inc. | 508,738 | ||||||
| 596 | Public Storage | 193,205 | ||||||
| 3,519 | Realty Income Corp. | 224,758 | ||||||
| 622 | Regency Centers Corp. | 49,940 | ||||||
| 1,223 | Simon Property Group, Inc. | 280,519 | ||||||
| 1,116 | UDR, Inc. | 42,587 | ||||||
| 1,834 | Ventas, Inc. | 171,497 | ||||||
| 4,123 | VICI Properties, Inc. | 108,641 | ||||||
| 2,663 | Welltower, Inc. | 624,314 | ||||||
| 2,721 | Weyerhaeuser Co. | 68,107 | ||||||
|
|
|
| ||||||
| 3,753,119 | ||||||||
|
|
|
| ||||||
| Rental and Leasing Services - 0.1% |
||||||||
| 236 | United Rentals, Inc. | 254,705 | ||||||
|
|
|
| ||||||
| Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 2.5% |
||||||||
| 1,740 | Apollo Global Management, Inc. | 218,527 | ||||||
| 796 | Ares Management Corp. (b) | 101,960 | ||||||
| 546 | Blackrock, Inc. | 595,353 | ||||||
| 395 | Cboe Global Markets, Inc. | 122,541 | ||||||
| 6,168 | Charles Schwab Corp. | 649,120 | ||||||
| 1,367 | CME Group, Inc. | 366,069 | ||||||
| 2,521 | CRH PLC ADR (Ireland) | 239,520 | ||||||
| 2,720 | Dow, Inc. | 82,389 | ||||||
| 1,156 | Franklin Resources, Inc. | 39,142 | ||||||
| 1,113 | Goldman Sachs Group, Inc. | 1,133,457 | ||||||
| 1,680 | Interactive Brokers Group, Inc. Class A | 147,823 | ||||||
| 1,673 | Invesco Ltd. ADR | 49,521 | ||||||
| 2,609 | KKR & Co., Inc. | 264,631 | ||||||
| 4,522 | Morgan Stanley | 951,519 | ||||||
| 275 | MSCI, Inc. Class A | 157,366 | ||||||
| 1,686 | NASDAQ OMX Group, Inc. | 158,804 | ||||||
| 655 | Raymond James Financial, Inc. | 115,267 | ||||||
| 2,985 | Robinhood Markets, Inc. (a) | 258,382 | ||||||
| 1,144 | S&P Global, Inc. | 471,248 | ||||||
| 2,802 | The Blackstone Group, Inc. | 357,955 | ||||||
|
|
|
| ||||||
| 6,480,594 | ||||||||
|
|
|
| ||||||
| Specialty Trade Contractors - 0.3% |
||||||||
| 133 | Comfort Systems USA, Inc. | 230,049 | ||||||
| 167 | EMCOR Group, Inc. | 133,171 | ||||||
| 566 | Quanta Services, Inc. | 377,725 | ||||||
|
|
|
| ||||||
| 740,945 | ||||||||
|
|
|
| ||||||
| Support Activities for Agriculture and Forestry - 0.1% |
||||||||
| 2,523 | Corteva, Inc. | 198,585 | ||||||
|
|
|
| ||||||
| Support Activities for Mining - 0.1% |
||||||||
| 3,152 | Halliburton Co. | 101,652 | ||||||
| 5,640 | SLB Ltd. ADR | 279,688 | ||||||
|
|
|
| ||||||
| 381,340 | ||||||||
|
|
|
| ||||||
| Support Activities for Transportation - 0.2% |
||||||||
| 444 | C.H. Robinson Worldwide, Inc. | 65,592 | ||||||
| 432 | Expedia, Inc. | 127,328 | ||||||
| 494 | Expeditors International of Washington, Inc. | 82,938 | ||||||
| 281 | J.B. Hunt Transport Services, Inc. | 76,362 | ||||||
| 847 | Norfolk Southern Corp. | 284,151 | ||||||
|
|
|
| ||||||
| 636,371 | ||||||||
|
|
|
| ||||||
| Telecommunications - 0.9% |
||||||||
| 26,215 | AT&T, Inc. | 609,499 | ||||||
| 372 | Equinix, Inc. | 379,172 | ||||||
| 3,328 | PayPal Holdings, Inc. | 190,395 | ||||||
| 400 | SBA Communications Corp. | 72,392 | ||||||
| 1,756 | T-Mobile US, Inc. | 303,279 | ||||||
| 15,754 | Verizon Communications, Inc. | 737,444 | ||||||
|
|
|
| ||||||
| 2,292,181 | ||||||||
|
|
|
| ||||||
| Transportation Equipment Manufacturing - 2.4% |
||||||||
| 799 | Aptiv PLC ADR (a) | 45,120 | ||||||
| 2,974 | Boeing Co. (a) | 642,800 | ||||||
| 410 | Fedex Freight Holding Co., Inc. (a) | 57,617 | ||||||
| 14,766 | Ford Motor Co. | 216,765 | ||||||
| 958 | General Dynamics Corp. | 367,316 | ||||||
| 3,401 | General Motors Co. | 302,213 | ||||||
| 1,194 | Honeywell International, Inc. | 290,202 | ||||||
| 765 | Lockheed Martin Corp. | 445,796 | ||||||
| 1,986 | Paccar, Inc. | 263,503 | ||||||
| 10,622 | Tesla, Inc. (a) | 3,305,673 | ||||||
| 211 | TransDigm Group, Inc. | 264,674 | ||||||
| 640 | Wabtec Corp. | 186,150 | ||||||
|
|
|
| ||||||
| 6,387,829 | ||||||||
|
|
|
| ||||||
| Truck Transportation - 0.1% |
||||||||
| 1,194 | Honeywell Aerospace, Inc. (a) | 246,847 | ||||||
| 690 | Old Dominion Freight Line, Inc. | 146,377 | ||||||
|
|
|
| ||||||
| 393,224 | ||||||||
|
|
|
| ||||||
| Utilities - 2.6% |
||||||||
| 2,690 | AES Corp. | 39,489 | ||||||
| 975 | Alliant Energy Corp. | 69,011 | ||||||
| 1,045 | Ameren Corp. | 114,542 | ||||||
| 2,053 | American Electric Power Co., Inc. | 262,476 | ||||||
| 737 | American Water Works Co., Inc. | 98,883 | ||||||
| 629 | Atmos Energy Corp. | 108,679 | ||||||
| 2,468 | CenterPoint Energy, Inc. | 103,755 | ||||||
| 1,166 | CMS Energy Corp. | 83,940 | ||||||
| 1,391 | Consolidated Edison, Inc. | 151,410 | ||||||
| 1,206 | Constellation Energy Corp. | 316,877 | ||||||
| 3,318 | Dominion Energy, Inc. | 229,506 | ||||||
| 785 | DTE Energy Co. | 111,368 | ||||||
| 2,941 | Duke Energy Corp. | 368,890 | ||||||
| 1,451 | Edison International | 106,460 | ||||||
| 1,727 | Entergy Corp. | 185,860 | ||||||
| 870 | Evergy, Inc. | 72,219 | ||||||
| 1,419 | Eversource Energy | 101,586 | ||||||
| 3,860 | Exelon Corp. | 176,865 | ||||||
| 1,964 | FirstEnergy Corp. | 94,881 | ||||||
| 1,014 | GE Vernova, Inc. | 1,004,154 | ||||||
| 7,386 | Kinder Morgan, Inc. | 237,682 | ||||||
| 7,867 | NextEra Energy, Inc. | 683,800 | ||||||
| 1,809 | NiSource, Inc. | 80,374 | ||||||
| 796 | NRG Energy, Inc. | 106,895 | ||||||
| 2,377 | ONEOK, Inc. | 215,855 | ||||||
| 8,309 | PG&E Corp. | 144,410 | ||||||
| 457 | Pinnacle West Capital Corp. | 46,152 | ||||||
| 2,839 | PPL Corp. | 99,961 | ||||||
| 1,880 | Public Service Enterprise Group, Inc. | 144,158 | ||||||
| 2,467 | Sempra Energy | 218,453 | ||||||
| 4,254 | Southern Co. | 402,173 | ||||||
| 219 | Texas Pacific Land Corp. | 88,165 | ||||||
| 1,196 | Vistra Corp. | 177,235 | ||||||
| 1,229 | WEC Energy Group, Inc. | 134,477 | ||||||
| 2,355 | Xcel Energy, Inc. | 184,161 | ||||||
|
|
|
| ||||||
| 6,764,802 | ||||||||
|
|
|
| ||||||
| Waste Management and Remediation Services - 0.1% |
||||||||
| 755 | Republic Services, Inc. | 158,965 | ||||||
|
|
|
| ||||||
| Water Transportation - 0.1% |
||||||||
| 4,854 | Carnival Corp. Ltd. ADR | 134,990 | ||||||
|
|
|
| ||||||
| Web Search Portals, Libraries, Archives, and Other Information Services - 0.0%(†) |
||||||||
| 1,540 | CoStar Group, Inc. (a) | 44,290 | ||||||
|
|
|
| ||||||
| Wood Product Manufacturing - 0.0%(†) |
||||||||
| 761 | Masco Corp. | 54,396 | ||||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $175,614,307) |
$ | 242,866,315 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 7.2% |
||||||||
| Money Market Funds - 7.2% |
||||||||
| 18,976,878 | Dreyfus Government Cash Management Institutional Shares, 3.56% (c)(d) | $ | 18,976,878 | |||||
| 10,408 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (c) | 10,408 | ||||||
| 28,741 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (c) | 28,741 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $19,016,027) | $ | 19,016,027 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $194,630,334) - 99.2% (e) | $ | 261,882,342 | ||||||
| Other Assets in Excess of Liabilities - 0.8% | 2,001,480 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 263,883,822 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (†) | Less than 0.05%. |
| (a) | Non-income producing security. |
| (b) | A portion of this security represents a security on loan. |
| (c) | Represents annualized seven-day yield at July 31, 2026. |
| (d) | All or a portion of this security represents an investment of securities lending collateral. |
| (e) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $134,238,107. |
ADR - American Depository Receipt
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
|
Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount |
Unrealized Appreciation | ||||||||||||||
| Total return of S&P 500® Index |
SOFR + 0.8500% | Goldman Sachs | 12/10/2026 | 21,674 | $ | 146,359,281 | $ | 13,833,582 | ||||||||||||
| Total return of S&P 500® Index |
SOFR + 0.7900% | UBS Securities LLC | 12/17/2026 | 14,608 | 101,995,398 | 6,121,488 | ||||||||||||||
| Total return of S&P 500® Index |
SOFR + 0.9000% | Citibank N.A. | 12/22/2026 | 1,758 | 12,015,051 | 909,671 | ||||||||||||||
|
|
|
| ||||||||||||||||||
| $ | 260,369,730 | $ | 20,864,741 | |||||||||||||||||
|
|
|
| ||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 105.4% |
||||||||
| Money Market Funds - 105.4% |
||||||||
| 61,375,081 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 61,375,081 | |||||
| 10,785,301 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 10,785,301 | ||||||
| 33,533,458 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 33,533,458 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $105,693,840) (b) | $ | 105,693,840 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $105,693,840) - 105.4% | $ | 105,693,840 | ||||||
| Liabilities in Excess of Other Assets - (5.4)% | (5,373,697) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 100,320,143 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $47,848,678. |
| Short Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
|
Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) | ||||||||||||||
| SOFR + 0.6300% |
Total return of S&P Oil & Gas Exploration & Production Select Industry Index | Goldman Sachs | 12/10/2026 | 8,000 | $ | 54,111,959 | $ | (312,195 | ) | |||||||||||
| SOFR + 0.6000% |
Total return of S&P Oil & Gas Exploration & Production Select Industry Index | Bank of America Merrill Lynch | 12/11/2026 | 4,553 | 31,396,687 | 360,677 | ||||||||||||||
| SOFR + 0.5800% |
Total return of S&P Oil & Gas Exploration & Production Select Industry Index | J.P. Morgan | 12/16/2026 | 8,253 | 55,798,905 | (267,872 | ) | |||||||||||||
| SOFR + 0.3000% |
Total return of S&P Oil & Gas Exploration & Production Select Industry Index | UBS Securities LLC | 12/17/2026 | 1,523 | 7,866,127 | (2,502,766 | ) | |||||||||||||
| SOFR + 0.3500% |
Total return of S&P Oil & Gas Exploration & Production Select Industry Index | Citibank N.A. | 12/22/2026 | 7,000 | 46,314,425 | (1,247,434 | ) | |||||||||||||
|
|
|
| ||||||||||||||||||
| $ | 195,488,103 | $ | (3,969,590 | ) | ||||||||||||||||
|
|
|
| ||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 67.9% |
||||||||
| Chemical Manufacturing - 0.3% |
||||||||
| 421,825 | Gevo, Inc. (a) | $ | 624,301 | |||||
|
|
|
| ||||||
| Funds, Trusts, and Other Financial Vehicles - 1.5% |
||||||||
| 143,241 | Magnolia Oil & Gas Corp. | 3,682,726 | ||||||
|
|
|
| ||||||
| Gasoline Stations and Fuel Dealers - 3.9% |
||||||||
| 20,988 | Chevron Corp. | 4,131,068 | ||||||
| 80,843 | Delek US Holdings, Inc. | 5,486,814 | ||||||
|
|
|
| ||||||
| 9,617,882 | ||||||||
|
|
|
| ||||||
| Management of Companies and Enterprises - 0.4% |
||||||||
| 80,112 | Diversified Energy Co. | 1,078,308 | ||||||
|
|
|
| ||||||
| Merchant Wholesalers, Durable Goods - 0.3% |
||||||||
| 17,240 | REX American Resources Corp. (a) | 742,010 | ||||||
|
|
|
| ||||||
| Merchant Wholesalers, Nondurable Goods - 3.0% |
||||||||
| 56,297 | HF Sinclair Corp. | 5,149,486 | ||||||
| 55,373 | World Kinect Corp. (b) | 2,207,168 | ||||||
|
|
|
| ||||||
| 7,356,654 | ||||||||
|
|
|
| ||||||
| Oil and Gas Extraction - 36.3% |
||||||||
| 111,771 | Antero Resources Corp. (a) | 4,039,404 | ||||||
| 104,830 | APA Corp. | 3,912,256 | ||||||
| 54,412 | BKV Corp. (a) | 1,330,917 | ||||||
| 67,664 | California Resources Corp. | 3,560,480 | ||||||
| 28,814 | Chord Energy Corp. | 4,044,909 | ||||||
| 133,152 | Clean Energy Fuels Corp. (a) | 258,315 | ||||||
| 119,985 | CNX Resources Corp. (a)(b) | 4,295,463 | ||||||
| 112,487 | Comstock Resources, Inc. (a) | 1,491,578 | ||||||
| 340,181 | Crescent Energy Co. | 3,901,876 | ||||||
| 85,484 | Devon Energy Corp. | 3,857,893 | ||||||
| 20,267 | Diamondback Energy, Inc. | 4,113,188 | ||||||
| 28,396 | EOG Resources, Inc. | 4,222,201 | ||||||
| 75,718 | EQT Corp. | 4,035,012 | ||||||
| 44,981 | Expand Energy Corp. | 4,229,563 | ||||||
| 26,449 | ExxonMobil Holdings Corp. | 4,111,233 | ||||||
| 104,506 | Green Plains, Inc. (a)(b) | 1,760,926 | ||||||
| 793,004 | Kosmos Energy Ltd. (a) | 2,133,181 | ||||||
| 72,547 | Matador Resources Co. | 3,619,370 | ||||||
| 99,987 | Murphy Oil Corp. | 3,973,483 | ||||||
| 151,683 | Northern Oil and Gas, Inc. | 3,208,095 | ||||||
| 69,762 | Occidental Petroleum Corp. | 3,981,317 | ||||||
| 69,122 | Par Pacific Holdings, Inc. (a)(b) | 5,946,566 | ||||||
| 101,776 | Range Resources Corp. (b) | 4,085,289 | ||||||
| 38,805 | SandRidge Energy, Inc. | 540,166 | ||||||
| 121,337 | SM Energy Co. | 3,945,879 | ||||||
| 139,267 | VAALCO Energy, Inc. (b) | 742,293 | ||||||
| 88,956 | Viper Energy, Inc. | 3,968,327 | ||||||
| 41,800 | Vitesse Energy, Inc. (b) | 652,080 | ||||||
|
|
|
| ||||||
| 89,961,260 | ||||||||
|
|
|
| ||||||
| Petroleum and Coal Products Manufacturing - 12.4% |
||||||||
| 91,067 | Calumet, Inc. (a) | 4,024,251 | ||||||
| 33,218 | ConocoPhillips | 4,002,105 | ||||||
| 45,761 | CVR Energy, Inc. (b) | 1,630,007 | ||||||
| 15,131 | Marathon Petroleum Corp. | 4,788,507 | ||||||
| 93,576 | PBF Energy, Inc. Class A | 6,763,673 | ||||||
| 21,922 | Phillips 66 | 4,640,449 | ||||||
| 15,441 | Valero Energy Corp. | 4,831,489 | ||||||
|
|
|
| ||||||
| 30,680,481 | ||||||||
|
|
|
| ||||||
| Printing and Related Support Activities - 1.7% |
||||||||
| 201,901 | Permian Resources Corp. | 4,302,509 | ||||||
|
|
|
| ||||||
| Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 0.7% |
||||||||
| 135,033 | New Era Energy & Digital, Inc. (a) | 629,254 | ||||||
| 230,210 | Sable Offshore Corp. (a)(b) | 1,217,811 | ||||||
|
|
|
| ||||||
| 1,847,065 | ||||||||
|
|
|
| ||||||
| Support Activities for Mining - 4.1% |
||||||||
| 20,976 | Gulfport Energy Corp. (a)(b) | 3,384,897 | ||||||
| 68,752 | Ovintiv, Inc. | 4,294,250 | ||||||
| 167,636 | Talos Energy, Inc. (a) | 2,544,715 | ||||||
|
|
|
| ||||||
| 10,223,862 | ||||||||
|
|
|
| ||||||
| Utilities - 3.3% |
||||||||
| 10,617 | Texas Pacific Land Corp. | 4,274,192 | ||||||
| 299,738 | Venture Global, Inc. | 4,010,494 | ||||||
|
|
|
| ||||||
| 8,284,686 | ||||||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $135,638,284) | $ | 168,401,744 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 30.6% |
||||||||
| Money Market Funds - 30.6% |
||||||||
| 49,699,802 | Dreyfus Government Cash Management Institutional Shares, 3.56% (c)(d) | $ | 49,699,802 | |||||
| 244,867 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (c) | 244,867 | ||||||
| 25,962,309 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (c) | 25,962,309 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $75,906,978) | $ | 75,906,978 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $211,545,262) - 98.5% (e) | $ | 244,308,722 | ||||||
| Other Assets in Excess of Liabilities - 1.5% | 3,717,239 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 248,025,961 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | A portion of this security represents a security on loan. |
| (c) | Represents annualized seven-day yield at July 31, 2026. |
| (d) | All or a portion of this security represents an investment of securities lending collateral. |
| (e) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $146,764,538. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
|
Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation | ||||||||||||||
| Total return of S&P Oil & Gas Exploration & Production Select Industry Index |
SOFR + 0.7500% | BNP Paribas | 12/4/2026 | 500 | $ | 2,621,860 | $ | 763,582 | ||||||||||||
| Total return of S&P Oil & Gas Exploration & Production Select Industry Index |
SOFR + 0.8400% | Goldman Sachs | 12/10/2026 | 13,389 | 76,700,535 | 14,231,113 | ||||||||||||||
| Total return of S&P Oil & Gas Exploration & Production Select Industry Index |
SOFR + 0.7000% | Bank of America Merrill Lynch | 12/11/2026 | 9,614 | 59,016,497 | 6,557,390 | ||||||||||||||
| Total return of S&P Oil & Gas Exploration & Production Select Industry Index |
SOFR + 0.8200% | J.P. Morgan | 12/15/2026 | 9,398 | 61,771,763 | 2,077,840 | ||||||||||||||
| Total return of S&P Oil & Gas Exploration & Production Select Industry Index |
SOFR + 0.6700% | UBS Securities LLC | 12/17/2026 | 3,000 | 14,715,780 | 5,639,750 | ||||||||||||||
| Total return of S&P Oil & Gas Exploration & Production Select Industry Index |
SOFR + 0.7100% | Citibank N.A. | 12/22/2026 | 12,000 | 61,619,184 | 19,845,557 | ||||||||||||||
|
|
|
| ||||||||||||||||||
| $ | 276,445,619 | $ | 49,115,232 | |||||||||||||||||
|
|
|
| ||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Semiconductors Top 5 Bear 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 114.8% |
||||||||
| Money Market Funds - 114.8% |
||||||||
| 593,882 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 593,882 | |||||
| 332,020 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 332,020 | ||||||
| 500,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 500,000 | ||||||
| 351,000 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 351,000 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $1,776,902) (b) | $ | 1,776,902 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $1,776,902) - 114.8% | $ | 1,776,902 | ||||||
| Liabilities in Excess of Other Assets - (14.8)% | (228,930) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 1,547,972 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $1,398,583. |
| Short Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
|
Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount |
Unrealized Appreciation (Depreciation) | ||||||||||||||
| SOFR + 0.0500% |
Total return of NYSE Semiconductor Top 5 Equal Weight Index | BNP Paribas | 12/4/2026 | 116 | $ | 197,114 | $ | (99,563 | ) | |||||||||||
| SOFR + 0.7000% |
Total return of NYSE Semiconductor Top 5 Equal Weight Index | Bank of America Merrill Lynch | 12/11/2026 | 302 | 770,568 | (6,331 | ) | |||||||||||||
| SOFR + 0.7000% |
Total return of NYSE Semiconductor Top 5 Equal Weight Index | Barclays | 12/22/2026 | 323 | 641,628 | (182,240 | ) | |||||||||||||
| SOFR + 0.6500% |
Total return of NYSE Semiconductor Top 5 Equal Weight Index | Goldman Sachs | 6/8/2027 | 461 | 1,247,285 | 62,563 | ||||||||||||||
|
|
|
| ||||||||||||||||||
| $ | 2,856,595 | $ | (225,571 | ) | ||||||||||||||||
|
|
|
| ||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Semiconductors Top 5 Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 14.2% |
||||||||
| Computer and Electronic Product Manufacturing - 14.2% |
||||||||
| 743 | Advanced Micro Devices, Inc. (a) | $ | 353,779 | |||||
| 995 | Broadcom, Inc. | 387,334 | ||||||
| 387 | Micron Technology, Inc. | 318,513 | ||||||
| 1,852 | NVIDIA Corp. | 371,789 | ||||||
| 896 | Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) ADR | 362,208 | ||||||
|
|
|
| ||||||
| 1,793,623 | ||||||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $1,578,103) |
$ | 1,793,623 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 104.4% |
||||||||
| Money Market Funds - 104.4% |
||||||||
| 7,863,807 | Dreyfus Government Cash Management Institutional Shares, 3.56% (b) | $ | 7,863,807 | |||||
| 1,769,034 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (b) | 1,769,034 | ||||||
| 152,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (b) | 152,000 | ||||||
| 3,447,110 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (b) | 3,447,110 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $13,231,951) | $ | 13,231,951 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $14,810,054) - 118.6% (c) | $ | 15,025,574 | ||||||
| Liabilities in Excess of Other Assets - (18.6)% | (2,349,911) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 12,675,663 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | Represents annualized seven-day yield at July 31, 2026. |
| (c) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $8,117,364. |
ADR - American Depository Receipt
| Long Total Return Swap Contracts (Unaudited) |
July 31, 2026
|
Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| Total return of NYSE Semiconductor Top 5 Equal Weight Index |
SOFR + 0.8000% | BNP Paribas | 12/4/2026 | 2,530 | $ | 6,565,628 | $ | (51,734) | ||||||||||||
| Total return of NYSE Semiconductor Top 5 Equal Weight Index |
SOFR + 0.9000% | Bank of America Merrill Lynch | 12/11/2026 | 1,810 | 3,578,779 | 1,023,275 | ||||||||||||||
| Total return of NYSE Semiconductor Top 5 Equal Weight Index |
SOFR + 1.2500% | Citibank N.A. | 12/22/2026 | 2,228 | 6,457,310 | (766,162) | ||||||||||||||
| Total return of NYSE Semiconductor Top 5 Equal Weight Index |
SOFR + 1.0000% | Barclays | 12/22/2026 | 957 | 1,713,461 | 711,839 | ||||||||||||||
| Total return of NYSE Semiconductor Top 5 Equal Weight Index |
SOFR + 0.9500% | Goldman Sachs | 5/25/2027 | 1,622 | 4,091,376 | 72,520 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 22,406,554 | $ | 989,738 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily SHOP Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 12.7% |
||||||||
| Data Processing, Hosting and Related Services - 12.7% |
||||||||
| 9,801 | Shopify, Inc. (a) | $ | 1,148,188 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $1,016,220) | $ | 1,148,188 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 101.6% |
||||||||
| 954,463 | Dreyfus Government Cash Management Institutional Shares, 3.56% (b) | $ | 954,463 | |||||
| 3,538,866 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (b) | 3,538,866 | ||||||
| 660,001 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (b) | 660,001 | ||||||
| 4,037,413 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (b) | 4,037,413 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $9,190,743) | $ | 9,190,743 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $10,206,963) - 114.3% (c) | $ | 10,338,931 | ||||||
| Liabilities in Excess of Other Assets - (14.3)% | (1,292,765) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 9,046,166 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | Represents annualized seven-day yield at July 31, 2026. |
| (c) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $8,886,278. |
ADR - American Depository Receipt
| Long Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| Total return of common shares of Shopify, Inc. |
SOFR + 3.0000% | Goldman Sachs | 12/10/2026 | 44,934 | $ | 5,499,922 | $ | (237,094) | ||||||||||||
| Total return of common shares of Shopify, Inc. |
SOFR + 3.0000% | Bank of America Merrill Lynch | 12/11/2026 | 52,294 | 6,400,786 | (275,726) | ||||||||||||||
| Total return of common shares of Shopify, Inc. |
SOFR + 5.0000% | Nomura | 12/11/2026 | 10,471 | 1,223,825 | (6,822) | ||||||||||||||
| Total return of common shares of Shopify, Inc. |
SOFR + 3.7500% | Citibank N.A. | 12/22/2026 | 14,404 | 1,668,383 | (22,857) | ||||||||||||||
| Total return of common shares of Shopify, Inc. |
SOFR + 3.0000% | Barclays | 12/22/2026 | 22,525 | 2,296,059 | 315,130 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 17,088,975 | $ | (227,369) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Silver Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 107.6% |
||||||||
| Money Market Funds - 107.6% |
||||||||
| 1,877,779 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 1,877,779 | |||||
| 3,543,849 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 3,543,849 | ||||||
| 2,737,255 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 2,737,255 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $8,158,883) (b) | $ | 8,158,883 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $8,158,883) - 107.6% | $ | 8,158,883 | ||||||
| Liabilities in Excess of Other Assets - (7.6)% | (575,976) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 7,582,907 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $6,281,104. |
| Long Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| Total return of iShares Silver Trust |
SOFR + 4.2500% | Bank of America Merrill Lynch | 12/11/2026 | 84,458 | $ | 4,710,089 | $ | (307,136) | ||||||||||||
| Total return of iShares Silver Trust |
SOFR + 3.5000% | Citibank N.A. | 12/22/2026 | 15,000 | 1,046,009 | (274,267) | ||||||||||||||
| Total return of iShares Silver Trust |
SOFR + 3.2400% | J.P. Morgan | 6/28/2027 | 20,000 | 1,394,609 | (364,955) | ||||||||||||||
| Total return of iShares Silver Trust |
SOFR + 3.0000% | Goldman Sachs | 6/29/2027 | 170,142 | 8,586,083 | 299,541 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 15,736,790 | $ | (646,817) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily SK Hynix Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 119.1% |
||||||||
| 21,045,579 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 21,045,579 | |||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $21,045,579) (b) | $ | 21,045,579 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $21,045,579) - 119.1% | $ | 21,045,579 | ||||||
| Liabilities in Excess of Other Assets - (19.1)% | (3,369,856) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 17,675,723 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $20,164,035. |
| Long Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Depreciation |
||||||||||||||
| Total return of common shares of SK hynix Inc. |
SOFR + 10.0000% | BNP Paribas | 12/4/2026 | 71,609 | $ | 10,795,134 | $ | (542,440) | ||||||||||||
| Total return of common shares of SK hynix Inc. |
SOFR + 10.0000% | HSBC Securities, Inc. | 12/9/2026 | 83,000 | 12,616,622 | (733,728) | ||||||||||||||
| Total return of common shares of SK hynix Inc. |
SOFR + 15.0000% | Nomura | 12/11/2026 | 11,315 | 1,738,592 | (123,701) | ||||||||||||||
| Total return of common shares of SK hynix Inc. |
SOFR + 5.0000% | Marex Capital Markets, Inc. | 8/20/2027 | 80,000 | 12,259,351 | (789,520) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 37,409,699 | $ | (2,189,389) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily SOFI Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 13.6% |
||||||||
| Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 13.6% |
||||||||
| 67,087 | SoFi Technologies, Inc. (a) | $ | 1,094,189 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $1,093,955) | $ | 1,094,189 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 90.3% |
||||||||
| 804,294 | Dreyfus Government Cash Management Institutional Shares, 3.56% (b) | $ | 804,294 | |||||
| 3,367,251 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (b) | 3,367,251 | ||||||
| 2,030,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (b) | 2,030,000 | ||||||
| 1,079,086 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (b) | 1,079,086 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $7,280,631) | $ | 7,280,631 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $8,374,586) - 103.9% (c) | $ | 8,374,820 | ||||||
| Liabilities in Excess of Other Assets - (3.9)% | (308,124) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 8,066,696 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | Represents annualized seven-day yield at July 31, 2026. |
| (c) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $6,476,337. |
| Long Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| Total return of common shares of SoFi Technologies, Inc. |
SOFR + 4.0000% | Goldman Sachs | 12/10/2026 | 362,260 | $ | 6,045,814 | $ | (170,079) | ||||||||||||
| Total return of common shares of SoFi Technologies, Inc. |
SOFR + 4.2500% | Bank of America Merrill Lynch | 12/11/2026 | 115,310 | 2,067,303 | (200,946) | ||||||||||||||
| Total return of common shares of SoFi Technologies, Inc. |
SOFR + 4.2500% | Barclays | 12/22/2026 | 444,384 | 7,032,982 | 61,876 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 15,146,099 | $ | (309,149) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily SpaceX Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 174.8% |
||||||||
| 54,830,967 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 54,830,967 | |||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $54,830,967) (b) | $ | 54,830,967 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $54,830,967) - 174.8% | $ | 54,830,967 | ||||||
| Liabilities in Excess of Other Assets - (74.8)% | (23,455,476) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 31,375,491 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $50,378,641. |
| Long Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Depreciation |
||||||||||||||
| Total return of common shares of Space Exploration Technologies Corp. |
SOFR + 6.0000% | BNP Paribas | 12/04/2026 | 200,135 | $ | 30,275,519 | $ | (8,871,940) | ||||||||||||
| Total return of common shares of Space Exploration Technologies Corp. |
SOFR + 7.0000% | HSBC Securities, Inc. | 12/9/2026 | 129,500 | 19,100,445 | (5,231,413) | ||||||||||||||
| Total return of common shares of Space Exploration Technologies Corp. |
SOFR + 7.0000% | Nomura | 12/11/2026 | 84,242 | 11,635,331 | (2,617,296) | ||||||||||||||
| Total return of common shares of Space Exploration Technologies Corp. |
SOFR + 5.0000% | Marex Capital Markets, Inc. | 12/20/2026 | 165,000 | 31,635,675 | (14,084,368) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 92,646,970 | $ | (30,805,017) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Technology Top 5 Bear 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 114.4% |
||||||||
| Money Market Funds - 114.4% |
||||||||
| 439,243 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 439,243 | |||||
| 550,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 550,000 | ||||||
| 685,363 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 685,363 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $1,674,606) (b) | $ | 1,674,606 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $1,674,606) - 114.4% | $ | 1,674,606 | ||||||
| Liabilities in Excess of Other Assets - (14.4)% | (210,908) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 1,463,698 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $1,235,363. |
| Short Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| SOFR + 0.6000% |
Total return of S&P 500® Information Technology (Sector) Top 5 Equal Capped Index | Bank of America Merrill Lynch | 12/11/2026 | 63 | $ | 877,800 | $ | 4,192 | ||||||||||||
| SOFR + 0.3500% |
Total return of S&P 500® Information Technology (Sector) Top 5 Equal Capped Index | Citibank N.A. | 12/22/2026 | 97 | 1,252,839 | (88,616) | ||||||||||||||
| SOFR + 0.5500% |
Total return of S&P 500® Information Technology (Sector) Top 5 Equal Capped Index | Barclays | 12/22/2026 | 51 | 581,253 | (115,518) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 2,711,892 | $ | (199,942) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Technology Top 5 Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 34.8% |
||||||||
| Computer and Electronic Product Manufacturing - 27.0% |
||||||||
| 1,058 | Apple, Inc. | $ | 326,827 | |||||
| 829 | Broadcom, Inc. | 322,713 | ||||||
| 345 | Micron Technology, Inc. | 283,946 | ||||||
| 1,539 | NVIDIA Corp. | 308,954 | ||||||
|
|
|
| ||||||
| 1,242,440 | ||||||||
|
|
|
| ||||||
| Publishing Industries - 7.8% |
||||||||
| 777 | Microsoft Corp. | 361,087 | ||||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $1,332,484) | $ | 1,603,527 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 51.8% |
||||||||
| Money Market Funds - 51.8% |
||||||||
| 1,083,194 | Dreyfus Government Cash Management Institutional Shares, 3.56% (b)(c) | $ | 1,083,194 | |||||
| 178,000 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (b) | 178,000 | ||||||
| 350,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (b) | 350,000 | ||||||
| 774,381 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (b) | 774,381 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $2,385,575) | $ | 2,385,575 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $3,718,059) - 86.6% (c) | $ | 3,989,102 | ||||||
| Other Assets in Excess of Liabilities - 13.4% | 615,478 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 4,604,580 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | A portion of this security represents a security on loan. |
| (b) | Represents annualized seven-day yield at July 31, 2026. |
| (c) | All or a portion of this security represents an investment of securities lending collateral. |
| (d) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $2,116,223. |
| Long Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation |
||||||||||||||
| Total return of S&P 500® Information Technology (Sector) Top 5 Equal Capped Index |
SOFR + 0.8000% | Bank of America Merrill Lynch | 12/11/2026 | 255 | $ | 3,490,775 | $ | 52,638 | ||||||||||||
| Total return of S&P 500® Information Technology (Sector) Top 5 Equal Capped Index |
SOFR + 0.9000% | Citibank N.A. | 12/22/2026 | 77 | 1,011,488 | 58,406 | ||||||||||||||
| Total return of S&P 500® Information Technology (Sector) Top 5 Equal Capped Index |
SOFR + 0.8500% | Barclays | 12/22/2026 | 130 | 1,707,707 | 98,616 | ||||||||||||||
| Total return of S&P 500® Information Technology (Sector) Top 5 Equal Capped Index |
SOFR + 0.8000% | BNP Paribas | 5/21/2027 | 36 | 467,093 | 29,502 | ||||||||||||||
| Total return of S&P 500® Information Technology (Sector) Top 5 Equal Capped Index |
SOFR + 0.9500% | Goldman Sachs | 7/9/2027 | 49 | 664,959 | 12,796 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 7,342,022 | $ | 251,958 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily TSLA Bear 1X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 104.5% |
||||||||
| Money Market Funds - 104.5% |
||||||||
| 57,743,057 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 57,743,057 | |||||
| 7,736,210 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 7,736,210 | ||||||
| 9,230,002 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 9,230,002 | ||||||
| 9,717,241 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 9,717,241 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $84,426,510) (b) | $ | 84,426,510 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $84,426,510) - 104.5% | $ | 84,426,510 | ||||||
| Liabilities in Excess of Other Assets - (4.5)% | (3,662,799) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 80,763,711 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $29,933,919. |
| Short Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| SOFR + (0.5000)% |
Total return of common shares of Tesla, Inc. | BNP Paribas | 12/4/2026 | 17,036 | $ | 7,268,980 | $ | 2,062,451 | ||||||||||||
| SOFR + 1.9000% |
Total return of common shares of Tesla, Inc. | Goldman Sachs | 12/10/2026 | 62,581 | 19,328,142 | (144,672) | ||||||||||||||
| SOFR + 0.9500% |
Total return of common shares of Tesla, Inc. | Bank of America Merrill Lynch | 12/11/2026 | 62,054 | 19,165,378 | (143,966) | ||||||||||||||
| SOFR + (2.0000)% |
Total return of common shares of Tesla, Inc. | Citibank N.A. | 12/22/2026 | 18,210 | 7,713,503 | 2,100,784 | ||||||||||||||
| SOFR + 2.6500% |
Total return of common shares of Tesla, Inc. | Barclays | 12/22/2026 | 99,593 | 41,098,166 | 10,736,281 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 94,574,169 | $ | 14,610,878 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily TSLA Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 15.7% |
||||||||
| Transportation Equipment Manufacturing - 15.7% |
||||||||
| 1,534,733 | Tesla, Inc. (a) | $ | 477,624,257 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $529,086,128) | $ | 477,624,257 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 141.9% |
||||||||
| 1,092,525,121 | Dreyfus Government Cash Management Institutional Shares, 3.56% (b) | $ | 1,092,525,121 | |||||
| 1,101,895,062 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (b) | 1,101,895,062 | ||||||
| 254,870,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (b) | 254,870,000 | ||||||
| 1,228,873,728 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (b) | 1,228,873,728 | ||||||
| 630,000,000 | JPMorgan 100% U.S. Treasury Securities Money Market Fund Institutional Shares, 3.59% (b) | 630,000,000 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $4,308,163,911) | $ | 4,308,163,911 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $4,837,250,039) - 157.6% (c) | $ | 4,785,788,168 | ||||||
| Liabilities in Excess of Other Assets - (57.6)% | (1,750,270,978) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 3,035,517,190 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | Represents annualized seven-day yield at July 31, 2026. |
| (c) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $4,050,020,810. |
| Long Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Depreciation |
||||||||||||||
| Total return of common shares of Tesla, Inc. |
SOFR + 3.5000% | BNP Paribas | 12/04/2026 | 2,591,328 | $ | 1,012,342,050 | $ | (230,388,704) | ||||||||||||
| Total return of common shares of Tesla, Inc. |
SOFR + 3.5000% | Goldman Sachs | 12/10/2026 | 3,229,386 | 1,163,202,996 | (176,774,447) | ||||||||||||||
| Total return of common shares of Tesla, Inc. |
SOFR + 3.9500% | Bank of America Merrill Lynch | 12/11/2026 | 1,218,006 | 430,971,385 | (61,781,781) | ||||||||||||||
| Total return of common shares of Tesla, Inc. |
SOFR + 3.7500% | Nomura | 12/11/2026 | 2,319,189 | 975,536,791 | (288,058,576) | ||||||||||||||
| Total return of common shares of Tesla, Inc. |
SOFR + 3.7000% | J.P. Morgan | 12/16/2026 | 2,798,652 | 1,330,227,282 | (521,101,112) | ||||||||||||||
| Total return of common shares of Tesla, Inc. |
SOFR + 3.7500% | Citibank N.A. | 12/22/2026 | 2,325,593 | 874,086,036 | (169,949,433) | ||||||||||||||
| Total return of common shares of Tesla, Inc. |
SOFR + 3.5000% | Barclays | 12/22/2026 | 3,486,361 | 1,312,835,917 | (246,894,572) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 7,099,202,457 | $ | (1,694,948,625) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily TSM Bear 1X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 106.4% |
||||||||
| Money Market Funds - 106.4% |
||||||||
| 2,402,146 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 2,402,146 | |||||
| 278,414 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 278,414 | ||||||
| 590,845 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 590,845 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $3,271,405) (b) | $ | 3,271,405 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $3,271,405) - 106.4% | $ | 3,271,405 | ||||||
| Liabilities in Excess of Other Assets - (6.4)% | (197,366) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 3,074,039 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $1,424,847. |
| Short Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| SOFR + (0.7500)% |
Total return of common shares of Taiwan Semiconductor Manufacturing Co. Ltd. | BNP Paribas | 12/4/2026 | 2,128 | $ | 664,677 | $ | (188,600) | ||||||||||||
| SOFR + 1.9000% |
Total return of common shares of Taiwan Semiconductor Manufacturing Co. Ltd. | Goldman Sachs | 12/10/2026 | 1,572 | 584,326 | (42,704) | ||||||||||||||
| SOFR + (0.5000)% |
Total return of common shares of Taiwan Semiconductor Manufacturing Co. Ltd. | Bank of America Merrill Lynch | 12/11/2026 | 962 | 391,465 | 4,369 | ||||||||||||||
| SOFR + (2.0000)% |
Total return of common shares of Taiwan Semiconductor Manufacturing Co. Ltd. | Citibank N.A. | 12/22/2026 | 2,941 | 1,256,319 | 68,578 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 2,896,787 | $ | (158,357) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily TSM Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 13.5% |
||||||||
| Computer and Electronic Product Manufacturing - 13.5% |
||||||||
| 201,586 | Taiwan Semiconductor Manufacturing Co Ltd | $ | 81,491,140 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $72,554,329) | $ | 81,491,140 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 84.0% |
||||||||
| 204,423,887 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 204,423,887 | |||||
| 124,899,620 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 124,899,620 | ||||||
| 177,540,228 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 177,540,228 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $506,863,735) | $ | 506,863,735 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $579,418,064) - 97.5% (b) | $ | 588,354,875 | ||||||
| Other Assets in Excess of Liabilities - 2.5% | 15,067,885 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 603,422,760 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $455,032,957. |
ADR - American Depository Receipt
ADR - American Depository Receipt
| Long Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| Total return of common shares of Taiwan Semiconductor Manufacturing Co. Ltd. |
SOFR + 3.5000% | BNP Paribas | 12/04/2026 | 368,646 | $ | 139,987,735 | $ | 6,187,732 | ||||||||||||
| Total return of common shares of Taiwan Semiconductor Manufacturing Co. Ltd. |
SOFR + 3.5000% | Goldman Sachs | 12/10/2026 | 774,198 | 312,241,795 | 806,481 | ||||||||||||||
| Total return of common shares of Taiwan Semiconductor Manufacturing Co. Ltd. |
SOFR + 3.5000% | Bank of America Merrill Lynch | 12/11/2026 | 587,234 | 231,271,106 | 2,312,623 | ||||||||||||||
| Total return of common shares of Taiwan Semiconductor Manufacturing Co. Ltd. |
SOFR + 3.7500% | Nomura | 12/11/2026 | 485,000 | 168,990,592 | 21,735,702 | ||||||||||||||
| Total return of common shares of Taiwan Semiconductor Manufacturing Co. Ltd. |
SOFR + 3.7500% | Citibank N.A. | 12/22/2026 | 568,355 | 228,531,188 | (706,668) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 1,081,022,416 | $ | 30,335,870 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily TXN Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 9.1% |
||||||||
| Computer and Electronic Product Manufacturing - 9.1% |
||||||||
| 1,097 | Texas Instruments, Inc. | $ | 302,487 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $296,373) | $ | 302,487 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 125.2% |
||||||||
| 600,000 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 600,000 | |||||
| 1,896,142 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 1,896,142 | ||||||
| 480,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 480,000 | ||||||
| 1,190,795 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 1,190,795 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $4,166,937) | $ | 4,166,937 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $4,463,310) - 134.3% (b) | $ | 4,469,424 | ||||||
| Liabilities in Excess of Other Assets - (34.3)% | (1,141,231) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 3,328,193 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $4,166,937. |
| Long Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| Total return of common shares of Texas Instruments, Inc. |
SOFR + 3.0000% | Goldman Sachs | 12/10/2026 | 4,963 | $ | 1,336,139 | $ | 16,455 | ||||||||||||
| Total return of common shares of Texas Instruments, Inc. |
SOFR + 3.5000% | Bank of America Merrill Lynch | 12/11/2026 | 5,964 | 1,605,628 | 20,010 | ||||||||||||||
| Total return of common shares of Texas Instruments, Inc. |
SOFR + 3.7500% | Nomura | 12/11/2026 | 3,905 | 1,164,192 | (89,267) | ||||||||||||||
| Total return of common shares of Texas Instruments, Inc. |
SOFR + 3.7500% | Citibank N.A. | 12/22/2026 | 2,844 | 553,639 | 224,021 | ||||||||||||||
| Total return of common shares of Texas Instruments, Inc. |
SOFR + 4.2500% | Barclays | 12/22/2026 | 5,366 | 1,517,394 | (54,255) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 6,176,992 | $ | 116,964 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily UNH Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 13.2% |
||||||||
| Insurance Carriers and Related Activities - 13.2% |
||||||||
| 1,300 | UnitedHealth Group, Inc. | $ | 538,720 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $434,616) | $ | 538,720 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 96.1% |
||||||||
| 1,912,128 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 1,912,128 | |||||
| 1,230,310 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 1,230,310 | ||||||
| 775,222 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 775,222 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $3,917,660) | $ | 3,917,660 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $4,352,276) - 109.3% (b) | $ | 4,456,380 | ||||||
| Liabilities in Excess of Other Assets - (9.3)% | (380,069) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 4,076,311 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $3,505,724. |
| Long Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Depreciation |
||||||||||||||
| Total return of common shares of UnitedHealth Group, Inc. |
SOFR + 2.9000% | BNP Paribas | 12/04/2026 | 2,784 | $ | 1,180,952 | $ | (32,135) | ||||||||||||
| Total return of common shares of UnitedHealth Group, Inc. |
SOFR + 3.0000% | Goldman Sachs | 12/10/2026 | 6,942 | 2,919,597 | (43,911) | ||||||||||||||
| Total return of common shares of UnitedHealth Group, Inc. |
SOFR + 3.2500% | Nomura | 12/11/2026 | 3,686 | 1,550,221 | (23,393) | ||||||||||||||
| Total return of common shares of UnitedHealth Group, Inc. |
SOFR + 3.7500% | Citibank N.A. | 12/22/2026 | 4,959 | 2,085,606 | (31,454) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 7,736,376 | $ | (130,893) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Uranium Industry Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| INVESTMENT COMPANIES - 65.8% |
||||||||
| 62,155 | VanEck Uranium and Nuclear ETF (a) | $ | 6,640,019 | |||||
| 233,834 | Global X Uranium ETF (a)(b) | 9,135,894 | ||||||
| 61,461 | Sprott Uranium Miners ETF (a) | 2,985,161 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENT COMPANIES (Cost $22,676,822) | $ | 18,761,074 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 53.8% |
||||||||
| Money Market Funds - 53.8% |
||||||||
| 3,112,282 | Dreyfus Government Cash Management Institutional Shares, 3.56% (c)(d) | $ | 3,112,282 | |||||
| 7,400,419 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (c) | 7,400,419 | ||||||
| 2,160,001 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (c) | 2,160,001 | ||||||
| 2,678,233 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (c) | 2,678,233 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $15,350,935) | $ | 15,350,935 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $38,027,757) - 119.6% (e) | $ | 34,112,009 | ||||||
| Liabilities in Excess of Other Assets - (19.6)% | (5,590,710) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 28,521,299 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Shareholders may obtain the financial statements of these investment companies at www.sec.gov. |
| (b) | A portion of this security represents a security on loan. |
| (c) | Represents annualized seven-day yield at July 31, 2026. |
| (d) | All or a portion of this security represents an investment of securities lending collateral. |
| (e) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $20,808,632. |
| Long Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Depreciation |
||||||||||||||
| Total return of Solactive United States Uranium and Nuclear Energy ETF Select Index |
SOFR + 0.9500% | BNP Paribas | 12/4/2026 | 612 | $ | 3,404,178 | $ | (461,923) | ||||||||||||
| Total return of Solactive United States Uranium and Nuclear Energy ETF Select Index |
SOFR + 0.7000% | Goldman Sachs | 12/10/2026 | 2,513 | 14,583,694 | (2,163,486) | ||||||||||||||
| Total return of Solactive United States Uranium and Nuclear Energy ETF Select Index |
SOFR + 0.8500% | Bank of America Merrill Lynch | 12/11/2026 | 2,233 | 12,642,291 | (1,678,718) | ||||||||||||||
| Total return of Solactive United States Uranium and Nuclear Energy ETF Select Index |
SOFR + 0.9000% | UBS Securities LLC | 12/17/2026 | 996 | 5,221,367 | (285,651) | ||||||||||||||
| Total return of Solactive United States Uranium and Nuclear Energy ETF Select Index |
SOFR + 0.9000% | Barclays | 12/22/2026 | 1,368 | 7,569,730 | (808,585) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 43,421,260 | $ | (5,398,363) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily XOM Bull 2X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 18.9% |
||||||||
| Oil and Gas Extraction - 18.9% |
||||||||
| 10,789 | Exxon Mobil Corp. | $ | 1,677,042 | |||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $1,412,642) | $ | 1,677,042 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 91.1% |
||||||||
| 1,487,113 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 1,487,113 | |||||
| 4,687,242 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 4,687,242 | ||||||
| 1,370,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 1,370,000 | ||||||
| 533,817 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 533,817 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $8,078,172) | $ | 8,078,172 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $9,490,814) - 110.0% (b) | $ | 9,755,214 | ||||||
| Liabilities in Excess of Other Assets - (10.0)% | (886,851) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 8,868,363 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $6,591,059. |
| Long Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| Total return of common shares of Exxon Mobil Corp. |
SOFR + 1.9200% | Goldman Sachs | 12/10/2026 | 61,425 | $ | 9,628,687 | $ | (140,843) | ||||||||||||
| Total return of common shares of Exxon Mobil Corp. |
SOFR + 3.0000% | Bank of America Merrill Lynch | 12/11/2026 | 6,070 | 858,298 | 69,265 | ||||||||||||||
| Total return of common shares of Exxon Mobil Corp. |
SOFR + 3.7500% | Citibank N.A. | 12/22/2026 | 3,418 | 421,235 | 99,744 | ||||||||||||||
| Total return of common shares of Exxon Mobil Corp. |
SOFR + 2.6100% | Barclays | 12/22/2026 | 32,396 | 5,003,585 | (10,260) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 15,911,805 | $ | 17,906 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily 20+ Year Treasury Bear 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 95.4% |
||||||||
| Money Market Funds - 95.4% |
||||||||
| 122,015,962 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 122,015,962 | |||||
| 6,687,253 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 6,687,253 | ||||||
| 55,658,441 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 55,658,441 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $184,361,656) (b) | $ | 184,361,656 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $184,361,656) - 95.4% | $ | 184,361,656 | ||||||
| Other Assets in Excess of Liabilities - 4.6% | 8,796,747 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 193,158,403 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $110,962,190. |
| Short Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation |
||||||||||||||
| SOFR + 0.5900% |
Total return of iShares 20+ Year Treasury Bond ETF | BNP Paribas | 12/4/2026 | 2,013,216 | $ | 172,221,740 | $ | 6,878,066 | ||||||||||||
| SOFR + 0.5000% |
Total return of iShares 20+ Year Treasury Bond ETF | Goldman Sachs | 12/10/2026 | 702,148 | 60,050,954 | 2,364,755 | ||||||||||||||
| SOFR + 0.5000% |
Total return of iShares 20+ Year Treasury Bond ETF | Bank of America Merrill Lynch | 12/11/2026 | 916,394 | 80,816,787 | 5,512,561 | ||||||||||||||
| SOFR + 0.3300% |
Total return of iShares 20+ Year Treasury Bond ETF | J.P. Morgan | 12/16/2026 | 944,553 | 82,338,160 | 4,595,585 | ||||||||||||||
| SOFR + 0.0500% |
Total return of iShares 20+ Year Treasury Bond ETF | UBS Securities LLC | 12/17/2026 | 1,223,835 | 106,083,743 | 5,218,675 | ||||||||||||||
| SOFR + 0.4800% |
Total return of iShares 20+ Year Treasury Bond ETF | Citibank N.A. | 12/22/2026 | 1,244,334 | 108,967,626 | 6,956,481 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 610,479,010 | $ | 31,526,123 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily 20+ Year Treasury Bull 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| INVESTMENT COMPANIES - 66.5% |
||||||||
| 17,777,404 | iShares 20+ Year Treasury Bond ETF (a) | $ | 1,462,191,479 | |||||
|
|
|
| ||||||
| TOTAL INVESTMENT COMPANIES (Cost $1,566,271,076) | $ | 1,462,191,479 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 44.9% |
||||||||
| Money Market Funds - 44.9% |
||||||||
| 301,705,173 | Dreyfus Government Cash Management Institutional Shares, 3.56% (b) | $ | 301,705,173 | |||||
| 226,887,547 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (b) | 226,887,547 | ||||||
| 35,740,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (b) | 35,740,000 | ||||||
| 193,348,149 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (b) | 193,348,149 | ||||||
| 230,000,000 | JPMorgan 100% U.S. Treasury Securities Money Market Fund Institutional Shares, 3.59% (b) | 230,000,000 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $987,680,869) | $ | 987,680,869 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $2,553,951,945) - 111.4% (c) | $ | 2,449,872,348 | ||||||
| Liabilities in Excess of Other Assets - (11.4)% | (250,352,317) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 2,199,520,031 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Shareholders may obtain the financial statements of these investment companies at www.sec.gov. |
| (b) | Represents annualized seven-day yield at July 31, 2026. |
| (c) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $1,968,237,520. |
| Long Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Depreciation |
||||||||||||||
| Total return of iShares 20+ Year Treasury Bond ETF |
SOFR + 0.6900% | BNP Paribas | 12/4/2026 | 6,395,882 | $ | 534,510,021 | $ | (9,023,051) | ||||||||||||
| Total return of iShares 20+ Year Treasury Bond ETF |
SOFR + 0.7000% | Goldman Sachs | 12/10/2026 | 7,349,741 | 629,557,279 | (26,003,973) | ||||||||||||||
| Total return of iShares 20+ Year Treasury Bond ETF |
SOFR + 0.7000% | Bank of America Merrill Lynch | 12/11/2026 | 11,579,306 | 1,021,178,996 | (70,972,099) | ||||||||||||||
| Total return of iShares 20+ Year Treasury Bond ETF |
SOFR + 0.8000% | Nomura | 12/11/2026 | 4,500,000 | 397,141,584 | (28,048,080) | ||||||||||||||
| Total return of iShares 20+ Year Treasury Bond ETF |
SOFR + 0.5500% | J.P. Morgan | 12/16/2026 | 9,969,961 | 871,374,591 | (51,657,543) | ||||||||||||||
| Total return of iShares 20+ Year Treasury Bond ETF |
SOFR + 0.7300% | UBS Securities LLC | 12/17/2026 | 7,219,465 | 633,658,503 | (40,841,053) | ||||||||||||||
| Total return of iShares 20+ Year Treasury Bond ETF |
SOFR + 0.7900% | Citibank N.A. | 12/22/2026 | 7,260,491 | 635,561,386 | (41,606,286) | ||||||||||||||
| Total return of iShares 20+ Year Treasury Bond ETF |
SOFR + 0.8000% | Barclays | 12/22/2026 | 8,170,334 | 709,833,716 | (40,324,899) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 5,432,816,076 | $ | (308,476,984) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily 7-10 Year Treasury Bear 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 97.8% |
||||||||
| Money Market Funds - 97.8% |
||||||||
| 7,796,991 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 7,796,991 | |||||
| 2,080,067 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 2,080,067 | ||||||
| 2,371,134 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 2,371,134 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $12,248,192) (b) | $ | 12,248,192 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $12,248,192) - 97.8% | $ | 12,248,192 | ||||||
| Other Assets in Excess of Liabilities - 2.2% | 274,733 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 12,522,925 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $7,688,676. |
| Short Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation |
||||||||||||||
| SOFR + 0.4500% |
Total return of iShares 7-10 Year Treasury Bond ETF | BNP Paribas | 12/4/2026 | 173,327 | $ | 16,689,336 | $ | 651,974 | ||||||||||||
| SOFR + 0.3800% |
Total return of iShares 7-10 Year Treasury Bond ETF | J.P. Morgan | 12/16/2026 | 126,477 | 12,065,890 | 338,685 | ||||||||||||||
| SOFR + 0.4500% |
Total return of iShares 7-10 Year Treasury Bond ETF | Barclays | 12/22/2026 | 104,324 | 9,976,773 | 312,724 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 38,731,999 | $ | 1,303,383 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily 7-10 Year Treasury Bull 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| INVESTMENT COMPANIES - 72.9% |
||||||||
| 248,004 | iShares 7-10 Year Treasury Bond ETF (a) | $ | 23,051,972 | |||||
|
|
|
| ||||||
| TOTAL INVESTMENT COMPANIES (Cost $23,703,390) | $ | 23,051,972 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 35.7% |
||||||||
| Money Market Funds - 35.7% |
||||||||
| 9,644,658 | Dreyfus Government Cash Management Institutional Shares, 3.56% (b) | $ | 9,644,658 | |||||
| 24,102 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (b) | 24,102 | ||||||
| 1,639,955 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (b) | 1,639,955 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $11,308,715) | $ | 11,308,715 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $35,012,105) - 108.6% (c) | $ | 34,360,687 | ||||||
| Liabilities in Excess of Other Assets - (8.6)% | (2,726,011) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 31,634,676 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Shareholders may obtain the financial statements of these investment companies at www.sec.gov. |
| (b) | Represents annualized seven-day yield at July 31, 2026. |
| (c) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $29,667,327. |
| Long Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Depreciation |
||||||||||||||
| Total return of iShares 7-10 Year Treasury Bond ETF |
SOFR + 0.6500% | BNP Paribas | 12/4/2026 | 273,148 | $ | 26,363,922 | $ | (1,136,307) | ||||||||||||
| Total return of iShares 7-10 Year Treasury Bond ETF |
SOFR + 0.8000% | Bank of America Merrill Lynch | 12/11/2026 | 167,639 | 16,168,782 | (690,037) | ||||||||||||||
| Total return of iShares 7-10 Year Treasury Bond ETF |
SOFR + 0.6000% | J.P. Morgan | 12/16/2026 | 262,337 | 25,104,195 | (811,513) | ||||||||||||||
| Total return of iShares 7-10 Year Treasury Bond ETF |
SOFR + 0.6800% | Barclays | 12/22/2026 | 69,877 | 6,568,800 | (90,141) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 74,205,699 | $ | (2,727,998) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Aerospace & Defense Bull 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 65.3% |
||||||||
| Administrative and Support Services - 0.1% |
||||||||
| 3,630 | V2X, Inc. (a) | $ | 327,571 | |||||
|
|
|
| ||||||
| Computer and Electronic Product Manufacturing - 17.3% |
||||||||
| 22,547 | Intuitive Machines, Inc. (a) | 278,230 | ||||||
| 33,240 | L3Harris Technologies, Inc. | 9,209,475 | ||||||
| 13,804 | Leonardo DRS, Inc. | 635,674 | ||||||
| 9,428 | Mercury Systems, Inc. (a)(b) | 915,459 | ||||||
| 5,073 | Moog, Inc. Class A | 1,977,709 | ||||||
| 19,580 | Northrop Grumman Corp. | 10,621,758 | ||||||
| 198,669 | RTX Corp. | 42,757,542 | ||||||
|
|
|
| ||||||
| 66,395,847 | ||||||||
|
|
|
| ||||||
| Electrical Equipment, Appliance, and Component Manufacturing - 2.0% |
||||||||
| 14,381 | Axon Enterprise, Inc. (a) | 7,589,717 | ||||||
|
|
|
| ||||||
| Fabricated Metal Product Manufacturing - 2.0% |
||||||||
| 16,347 | BWX Technologies, Inc. | 2,757,739 | ||||||
| 6,591 | Curtiss-Wright Corp. | 4,771,884 | ||||||
| 7,937 | Smith & Wesson Brands, Inc. | 115,483 | ||||||
| 2,845 | Sturm, Ruger & Co, Inc. | 105,749 | ||||||
|
|
|
| ||||||
| 7,750,855 | ||||||||
|
|
|
| ||||||
| Machinery Manufacturing - 14.4% |
||||||||
| 153,919 | GE Aerospace | 55,421,614 | ||||||
|
|
|
| ||||||
| Management of Companies and Enterprises - 0.2% |
||||||||
| 16,315 | Karman Holdings, Inc. (a)(b) | 785,567 | ||||||
|
|
|
| ||||||
| Merchant Wholesalers, Durable Goods - 1.0% |
||||||||
| 13,458 | Hexcel Corp. | 1,385,501 | ||||||
| 7,030 | Huntington Ingalls Industries, Inc. | 2,294,944 | ||||||
|
|
|
| ||||||
| 3,680,445 | ||||||||
|
|
|
| ||||||
| Miscellaneous Manufacturing - 0.7% |
||||||||
| 5,421 | Cadre Holdings, Inc. | 167,130 | ||||||
| 31,027 | Textron, Inc. | 2,645,362 | ||||||
|
|
|
| ||||||
| 2,812,492 | ||||||||
|
|
|
| ||||||
| Paper Manufacturing - 0.1% |
||||||||
| 6,862 | Astronics Corp. (a) | 476,840 | ||||||
|
|
|
| ||||||
| Primary Metal Manufacturing - 5.5% |
||||||||
| 24,349 | Allegheny Technologies, Inc. (a) | 4,563,977 | ||||||
| 8,865 | Carpenter Technology Corp. | 4,606,786 | ||||||
| 42,548 | Howmet Aerospace, Inc. | 12,009,598 | ||||||
|
|
|
| ||||||
| 21,180,361 | ||||||||
|
|
|
| ||||||
| Professional, Scientific, and Technical Services - 0.3% |
||||||||
| 23,552 | Red Cat Holdings, Inc. (a)(b) | 177,347 | ||||||
| 5,005 | VSE Corp. | 972,922 | ||||||
|
|
|
| ||||||
| 1,150,269 | ||||||||
|
|
|
| ||||||
| Rental and Leasing Services - 1.0% |
||||||||
| 18,305 | FTAI Aviation Ltd. ADR | 3,770,830 | ||||||
|
|
|
| ||||||
| Repair and Maintenance - 0.3% |
||||||||
| 33,803 | StandardAero, Inc. (a)(b) | 990,766 | ||||||
|
|
|
| ||||||
| Support Activities for Transportation - 0.0% (†) |
||||||||
| 17,965 | Virgin Galactic Holdings, Inc. (a) | 45,811 | ||||||
|
|
|
| ||||||
| Textile Mills - 0.0% (†) |
||||||||
| 946 | National Presto Industries, Inc. | 114,863 | ||||||
|
|
|
| ||||||
| Transportation Equipment Manufacturing - 20.4% |
||||||||
| 7,001 | AAR Corp. (a)(b) | 980,420 | ||||||
| 5,755 | AeroVironment, Inc. (a)(b) | 859,624 | ||||||
| 113,843 | Archer Aviation, Inc. (a) | 528,232 | ||||||
| 5,552 | Beta Technologies, Inc. (a)(b) | 105,099 | ||||||
| 104,540 | Boeing Co. (a) | 22,595,276 | ||||||
| 2,476 | Ducommun, Inc. (a) | 443,254 | ||||||
| 5,861 | Firefly Aerospace, Inc. (a)(b) | 119,154 | ||||||
| 31,121 | General Dynamics Corp. | 11,932,414 | ||||||
| 7,184 | HEICO Corp. | 2,560,090 | ||||||
| 13,850 | HEICO Corp. Class A | 3,563,328 | ||||||
| 33,460 | Kratos Defense & Security Solutions, Inc. (a) | 1,559,236 | ||||||
| 6,348 | Loar Holdings, Inc. (a)(b) | 434,521 | ||||||
| 20,218 | Lockheed Martin Corp. | 11,781,837 | ||||||
| 19,876 | Redwire Corp. (a) | 171,331 | ||||||
| 90,870 | Rocket Lab Corp. (a)(b) | 5,902,006 | ||||||
| 8,755 | TransDigm Group, Inc. | 10,982,097 | ||||||
| 2,291 | Voyager Technologies, Inc. (a)(b) | 56,198 | ||||||
| 10,630 | Woodward, Inc. | 3,834,772 | ||||||
| 3,416 | York Space Systems, Inc. (a)(b) | 50,317 | ||||||
|
|
|
| ||||||
| 78,459,206 | ||||||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $205,674,622) | $ | 250,953,054 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 32.9% |
||||||||
| Money Market Funds - 32.9% |
||||||||
| 98,466,410 | Dreyfus Government Cash Management Institutional Shares, 3.56% (c)(d) | $ | 98,466,410 | |||||
| 8,089,459 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (c) | 8,089,459 | ||||||
| 19,917,698 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (c) | 19,917,698 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $126,473,567) | $ | 126,473,567 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $332,148,189) - 98.2% (e) | $ | 377,426,621 | ||||||
| Other Assets in Excess of Liabilities - 1.8% | 6,669,072 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 384,095,693 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (†) | Less than 0.05%. |
| (a) | Non-income producing security. |
| (b) | A portion of this security represents a security on loan. |
| (c) | Represents annualized seven-day yield at July 31, 2026. |
| (d) | All or a portion of this security represents an investment of securities lending collateral. |
| (e) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $302,087,677. |
ADR - American Depository Receipt
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation |
||||||||||||
| Total return of Dow Jones U.S. Select Aerospace & Defense Index |
SOFR + 0.7900% | BNP Paribas | 12/4/2026 | 542 | $ | 28,041,291 | $ | 4,061,055 | ||||||||||
| Total return of Dow Jones U.S. Select Aerospace & Defense Index |
SOFR + 0.9500% | Goldman Sachs | 12/10/2026 | 1,370 | 74,077,110 | 7,731,783 | ||||||||||||
| Total return of Dow Jones U.S. Select Aerospace & Defense Index |
SOFR + 0.7000% | Bank of America Merrill Lynch | 12/11/2026 | 3,357 | 180,360,299 | 19,251,744 | ||||||||||||
| Total return of Dow Jones U.S. Select Aerospace & Defense Index |
SOFR + 0.8500% | Nomura | 12/11/2026 | 2,400 | 124,012,392 | 18,191,443 | ||||||||||||
| Total return of Dow Jones U.S. Select Aerospace & Defense Index |
SOFR + 0.7500% | J.P. Morgan | 12/16/2026 | 2,035 | 114,913,416 | 5,876,261 | ||||||||||||
| Total return of Dow Jones U.S. Select Aerospace & Defense Index |
SOFR + 0.9000% | Citibank N.A. | 12/22/2026 | 2,800 | 153,281,858 | 12,619,130 | ||||||||||||
| Total return of Dow Jones U.S. Select Aerospace & Defense Index |
SOFR + 0.7000% | Barclays | 12/22/2026 | 2,391 | 138,359,697 | 5,673,714 | ||||||||||||
|
|
|
|||||||||||||||||
| $ | 813,046,063 | $ | 73,405,130 | |||||||||||||||
|
|
|
|||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Consumer Discretionary Bull 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 55.7% |
||||||||
| Accommodation - 3.5% |
||||||||
| 1,191 | Airbnb, Inc. Class A (a) | 180,460 | ||||||
| 649 | Hilton Worldwide Holdings, Inc. | 207,998 | ||||||
| 849 | Las Vegas Sands Corp. | 41,508 | ||||||
| 624 | Marriott International, Inc. Class C | 232,646 | ||||||
| 547 | MGM Resorts International (a) | 24,380 | ||||||
| 239 | Wynn Resorts Ltd. (b) | 23,735 | ||||||
|
|
|
| ||||||
| 710,727 | ||||||||
|
|
|
| ||||||
| Administrative and Support Services - 3.2% |
||||||||
| 2,207 | Booking Holdings, Inc. | 425,731 | ||||||
| 711 | Royal Caribbean Cruises Ltd. ADR (Liberia) ADR | 226,311 | ||||||
|
|
|
| ||||||
| 652,042 | ||||||||
|
|
|
| ||||||
| Apparel Manufacturing - 0.4% |
||||||||
| 404 | Deckers Outdoor Corp. (a) | 39,140 | ||||||
| 110 | Ralph Lauren Corp. | 41,837 | ||||||
|
|
|
| ||||||
| 80,977 | ||||||||
|
|
|
| ||||||
| Building Material and Garden Equipment and Supplies Dealers - 5.0% |
||||||||
| 1,596 | Lowe’s Companies, Inc. | 331,665 | ||||||
| 1,892 | The Home Depot, Inc. | 628,068 | ||||||
| 1,495 | Tractor Supply Co. | 46,001 | ||||||
|
|
|
| ||||||
| 1,005,734 | ||||||||
|
|
|
| ||||||
| Clothing, Clothing Accessories, Shoe, and Jewelry Retailers - 3.6% |
||||||||
| 299 | Lululemon Athletica, Inc. (a) | 35,542 | ||||||
| 918 | Ross Stores, Inc. | 230,482 | ||||||
| 2,965 | TJX Companies, Inc. | 466,513 | ||||||
|
|
|
| ||||||
| 732,537 | ||||||||
|
|
|
| ||||||
| Construction of Buildings - 1.3% |
||||||||
| 752 | D.R. Horton, Inc. | 107,581 | ||||||
| 614 | Lennar Corp. Class A | 50,563 | ||||||
| 7 | NVR, Inc. (a) | 43,029 | ||||||
| 542 | PulteGroup, Inc. | 68,547 | ||||||
|
|
|
| ||||||
| 269,720 | ||||||||
|
|
|
| ||||||
| Food Services and Drinking Places - 6.7% |
||||||||
| 3,655 | Chipotle Mexican Grill, Inc. (a) | 136,039 | ||||||
| 326 | Darden Restaurants, Inc. | 66,367 | ||||||
| 1,078 | DoorDash, Inc. (a) | 211,461 | ||||||
| 1,760 | McDonald’s Corp. | 476,326 | ||||||
| 3,247 | Starbucks Corp. | 341,747 | ||||||
| 785 | Yum! Brands, Inc. | 120,325 | ||||||
|
|
|
| ||||||
| 1,352,265 | ||||||||
|
|
|
| ||||||
| Funds, Trusts, and Other Financial Vehicles - 0.7% |
||||||||
| 467 | Garmin Ltd. ADR (Switzerland) ADR | 137,195 | ||||||
|
|
|
| ||||||
| Furniture, Home Furnishings, Electronics, and Appliance Retailers - 0.2% |
||||||||
| 558 | Best Buy Co., Inc. | 48,133 | ||||||
|
|
|
| ||||||
| General Merchandise Retailers - 15.4% |
||||||||
| 10,676 | Amazon.com, Inc. (a) | 2,899,388 | ||||||
| 1,265 | eBay, Inc. | 144,222 | ||||||
| 336 | Williams-Sonoma, Inc. | 76,830 | ||||||
|
|
|
| ||||||
| 3,120,440 | ||||||||
|
|
|
| ||||||
| Health and Personal Care Retailers - 0.3% |
||||||||
| 124 | Ulta Beauty, Inc. (a) | 63,591 | ||||||
|
|
|
| ||||||
| Leather and Allied Product Manufacturing - 1.1% |
||||||||
| 3,418 | NIKE, Inc. Class B | 142,565 | ||||||
| 575 | Tapestry, Inc. | 87,613 | ||||||
|
|
|
| ||||||
| 230,178 | ||||||||
|
|
|
| ||||||
| Management of Companies and Enterprises - 0.1% |
||||||||
| 1,308 | Norwegian Cruise Line Holdings Ltd. ADR (a) | 24,237 | ||||||
|
|
|
| ||||||
| Merchant Wholesalers, Durable Goods - 0.2% |
||||||||
| 392 | Genuine Parts Co. | 48,753 | ||||||
|
|
|
| ||||||
| Merchant Wholesalers, Nondurable Goods - 0.1% |
||||||||
| 87 | Domino’s Pizza, Inc. | 30,227 | ||||||
|
|
|
| ||||||
| Miscellaneous Manufacturing - 0.2% |
||||||||
| 383 | Hasbro, Inc. | 35,979 | ||||||
|
|
|
| ||||||
| Motor Vehicle and Parts Dealers - 2.4% |
||||||||
| 46 | AutoZone, Inc. (a) | 138,748 | ||||||
| 2,041 | Carvana Co. (a) | 127,277 | ||||||
| 2,361 | O’Reilly Automotive, Inc. (a) | 210,955 | ||||||
|
|
|
| ||||||
| 476,980 | ||||||||
|
|
|
| ||||||
| Support Activities for Transportation - 0.5% |
||||||||
| 326 | Expedia, Inc. | 96,085 | ||||||
|
|
|
| ||||||
| Transportation Equipment Manufacturing - 10.3% |
||||||||
| 603 | Aptiv PLC ADR (a) | 34,051 | ||||||
| 11,151 | Ford Motor Co. | 163,697 | ||||||
| 2,569 | General Motors Co. | 228,281 | ||||||
| 5,347 | Tesla, Inc. (a) | 1,664,040 | ||||||
|
|
|
| ||||||
| 2,090,069 | ||||||||
|
|
|
| ||||||
| Water Transportation - 0.5% |
||||||||
| 3,665 | Carnival Corp. Ltd. ADR | 101,925 | ||||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $9,711,912) | $ | 11,307,794 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 40.7% |
||||||||
| Money Market Funds - 40.7% |
||||||||
| 4,755,763 | Dreyfus Government Cash Management Institutional Shares, 3.56% (c) | $ | 4,755,763 | |||||
| 4,800 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (c) | 4,800 | ||||||
| 3,505,841 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (c) | 3,505,841 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $8,266,404) | $ | 8,266,404 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $17,978,316) - 96.4% (d) | $ | 19,574,198 | ||||||
| Other Assets in Excess of Liabilities - 3.6% | 728,861 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 20,303,059 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | A portion of this security represents a security on loan. |
| (c) | Represents annualized seven-day yield at July 31, 2026. |
| (d) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $13,541,359. |
ADR - American Depository Receipt
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||
| Total return of Consumer Discretionary Select Sector Index |
SOFR + 0.6500% | Bank of America Merrill Lynch | 12/11/2026 | 7,300 | $ | 17,179,891 | $ | (123,339) | ||||||||||
| Total return of Consumer Discretionary Select Sector Index |
SOFR + 0.8000% | J.P. Morgan | 12/16/2026 | 2,174 | 5,036,474 | (3,689) | ||||||||||||
| Total return of Consumer Discretionary Select Sector Index |
SOFR + 0.7000% | UBS Securities LLC | 12/17/2026 | 7,218 | 16,371,226 | 487,416 | ||||||||||||
| Total return of Consumer Discretionary Select Sector Index |
SOFR + 0.7000% | Barclays | 12/22/2026 | 4,449 | 9,968,751 | 378,663 | ||||||||||||
|
|
|
|||||||||||||||||
| $ | 48,556,342 | $ | 739,051 | |||||||||||||||
|
|
|
|||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Dow Jones Internet Bear 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 115.0% |
||||||||
| Money Market Funds - 115.0% |
||||||||
| 3,444,440 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 3,444,440 | |||||
| 5,361,831 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 5,361,831 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $8,806,271) (b) | $ | 8,806,271 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $8,806,271) - 115.0% | $ | 8,806,271 | ||||||
| Liabilities in Excess of Other Assets - (15.0)% | (1,149,289) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 7,656,982 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $5,515,877. |
| Short Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||
| SOFR + 0.6000% |
Total return of Dow Jones Internet Composite Index | Bank of America Merrill Lynch | 12/11/2026 | 6,859 | $ | 8,651,912 | $ | 119,369 | ||||||||||
| SOFR + 0.4800% |
Total return of Dow Jones Internet Composite Index | J.P. Morgan | 12/15/2026 | 3,067 | 3,361,966 | (459,165) | ||||||||||||
| SOFR + 0.3000% |
Total return of Dow Jones Internet Composite Index | UBS Securities LLC | 12/17/2026 | 821 | 1,026,973 | (4,867) | ||||||||||||
| SOFR + 0.3500% |
Total return of Dow Jones Internet Composite Index | Citibank N.A. | 12/22/2026 | 7,496 | 9,266,393 | 28,190 | ||||||||||||
|
|
|
|||||||||||||||||
| $ | 22,307,244 | $ | (316,473) | |||||||||||||||
|
|
|
|||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Dow Jones Internet Bull 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 64.6% |
||||||||
| Accommodation - 1.6% |
||||||||
| 9,982 | Airbnb, Inc. Class A (a) | $ | 1,512,473 | |||||
|
|
|
| ||||||
| Administrative and Support Services - 6.3% |
||||||||
| 16,254 | Booking Holdings, Inc. | 3,135,397 | ||||||
| 7,641 | Cloudflare, Inc. (a) | 2,131,686 | ||||||
| 16,063 | Roblox Corp. (a) | 571,843 | ||||||
|
|
|
| ||||||
| 5,838,926 | ||||||||
|
|
|
| ||||||
| Amusement, Gambling, and Recreation Industries - 0.3% |
||||||||
| 11,980 | DraftKings, Inc. (a) | 281,290 | ||||||
|
|
|
| ||||||
| Computer and Electronic Product Manufacturing - 14.8% |
||||||||
| 9,049 | Alphabet, Inc. | 3,222,620 | ||||||
| 7,294 | Alphabet, Inc. Class C | 2,601,405 | ||||||
| 17,206 | Arista Networks, Inc. (a) | 3,103,102 | ||||||
| 42,358 | Cisco Systems, Inc. | 4,913,105 | ||||||
|
|
|
| ||||||
| 13,840,232 | ||||||||
|
|
|
| ||||||
| Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services - 0.1% |
||||||||
| 1,375 | Circle Internet Group, Inc. (a) | 86,089 | ||||||
|
|
|
| ||||||
| Educational Services - 0.1% |
||||||||
| 960 | Duolingo, Inc. (a) | 129,418 | ||||||
|
|
|
| ||||||
| Food Services and Drinking Places - 1.9% |
||||||||
| 9,058 | DoorDash, Inc. (a) | 1,776,817 | ||||||
|
|
|
| ||||||
| General Merchandise Retailers - 8.4% |
||||||||
| 24,380 | Amazon.com, Inc. (a) | 6,621,120 | ||||||
| 10,614 | eBay, Inc. | 1,210,102 | ||||||
|
|
|
| ||||||
| 7,831,222 | ||||||||
|
|
|
| ||||||
| Lessors of Nonfinancial Intangible Assets (except Copyrighted Works) - 0.1% |
||||||||
| 9,124 | MARA Holdings, Inc. (a)(b) | 103,284 | ||||||
|
|
|
| ||||||
| Merchant Wholesalers, Durable Goods - 1.0% |
||||||||
| 21,183 | Copart, Inc. (a) | 616,849 | ||||||
| 8,911 | Samsara, Inc. (a) | 332,113 | ||||||
|
|
|
| ||||||
| 948,962 | ||||||||
|
|
|
| ||||||
| Motion Picture and Sound Recording Industries - 2.4% |
||||||||
| 31,842 | Netflix, Inc. (a) | 2,283,390 | ||||||
|
|
|
| ||||||
| Motor Vehicle and Parts Dealers - 1.1% |
||||||||
| 17,121 | Carvana Co. (a) | 1,067,665 | ||||||
|
|
|
| ||||||
| Performing Arts, Spectator Sports, and Related Industries - 0.5% |
||||||||
| 4,148 | Flutter Entertainment PLC ADR (Ireland (a) | 433,341 | ||||||
|
|
|
| ||||||
| Professional, Scientific, and Technical Services - 17.0% |
||||||||
| 3,820 | Atlassian Corp. (a) | 385,877 | ||||||
| 3,382 | Ciena Corp. (a) | 1,275,183 | ||||||
| 6,312 | CoreWeave, Inc. (a)(b) | 453,012 | ||||||
| 1,350 | F5 Networks, Inc. (a) | 543,470 | ||||||
| 3,173 | GoDaddy, Inc. (a) | 262,534 | ||||||
| 10,162 | Meta Platforms, Inc. | 5,657,287 | ||||||
| 6,317 | Nutanix, Inc. (a) | 372,766 | ||||||
| 18,242 | Oracle Corp. | 2,369,089 | ||||||
| 1,024 | Paycom Software, Inc. | 167,895 | ||||||
| 8,261 | Snowflake, Inc. (a) | 2,422,786 | ||||||
| 1,959 | VeriSign, Inc. | 568,149 | ||||||
| 4,880 | Workday, Inc. (a)(b) | 782,459 | ||||||
| 6,362 | Zoom Video Communications, Inc. (a) | 611,198 | ||||||
|
|
|
| ||||||
| 15,871,705 | ||||||||
|
|
|
| ||||||
| Publishing Industries - 7.7% |
||||||||
| 3,471 | Akamai Technologies, Inc. (a) | 399,790 | ||||||
| 7,900 | Datadog, Inc. (a) | 2,116,963 | ||||||
| 4,649 | DocuSign, Inc. (a) | 254,905 | ||||||
| 1,225 | HubSpot, Inc. (a) | 290,766 | ||||||
| 4,002 | Okta, Inc. (a) | 568,004 | ||||||
| 15,276 | Salesforce, Inc. | 2,811,089 | ||||||
| 3,592 | Veeva Systems, Inc. (a) | 731,978 | ||||||
|
|
|
| ||||||
| 7,173,495 | ||||||||
|
|
|
| ||||||
| Telecommunications - 1.3% |
||||||||
| 21,111 | PayPal Holdings, Inc. | 1,207,760 | ||||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $45,958,535) | $ | 60,386,069 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 31.6% |
||||||||
| Money Market Funds - 31.6% |
||||||||
| 18,484,324 | Dreyfus Government Cash Management Institutional Shares, 3.56% (c)(d) | $ | 18,484,324 | |||||
| 11,090,800 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (c) | 11,090,800 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $29,575,124) | $ | 29,575,124 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $75,533,659) - 96.2% (e) | $ | 89,961,193 | ||||||
| Other Assets in Excess of Liabilities - 3.8% | 3,556,606 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 93,517,799 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | A portion of this security represents a security on loan. |
| (c) | Represents annualized seven-day yield at July 31, 2026. |
| (d) | All or a portion of this security represents an investment of securities lending collateral. |
| (e) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $69,438,530. |
ADR - American Depository Receipt
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||
| Total return of Dow Jones Internet Composite Index |
SOFR + 0.8000% | Bank of America Merrill Lynch | 12/11/2026 | 25,370 | $ | 31,809,596 | $ | (338,718) | ||||||||||
| Total return of Dow Jones Internet Composite Index |
SOFR + 0.7500% | J.P. Morgan | 12/16/2026 | 68,878 | 75,508,325 | 10,126,738 | ||||||||||||
| Total return of Dow Jones Internet Composite Index |
SOFR + 0.7000% | UBS Securities LLC | 12/17/2026 | 63,185 | 74,865,931 | 4,107,175 | ||||||||||||
| Total return of Dow Jones Internet Composite Index |
SOFR + 0.8500% | Citibank N.A. | 12/22/2026 | 17,443 | 21,611,005 | (212,275) | ||||||||||||
|
|
|
|||||||||||||||||
| $ | 203,794,857 | $ | 13,682,920 | |||||||||||||||
|
|
|
|||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Financial Bear 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 98.5% |
||||||||
| Money Market Funds - 98.5% |
||||||||
| 47,385,677 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 47,385,677 | |||||
| 23,148,516 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 23,148,516 | ||||||
| 22,656,131 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 22,656,131 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $93,190,324) (b) | $ | 93,190,324 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $93,190,324) - 98.5% | $ | 93,190,324 | ||||||
| Other Assets in Excess of Liabilities - 1.5% | 1,432,009 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 94,622,333 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $52,960,242. |
| Short Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Depreciation |
||||||||||||||
| SOFR + 0.7000% |
Total return of Financial Select Sector Index | Goldman Sachs | 12/10/2026 | 49,549 | $ | 34,122,511 | $ | (555,330 | ) | |||||||||||
| SOFR + 0.5500% |
Total return of Financial Select Sector Index | Bank of America Merrill Lynch | 12/11/2026 | 36,758 | 25,737,944 | (54,225 | ) | |||||||||||||
| SOFR + 0.4800% |
Total return of Financial Select Sector Index | Societe Generale | 12/14/2026 | 123,000 | 83,118,480 | (1,857,582 | ) | |||||||||||||
| SOFR + 0.6000% |
Total return of Financial Select Sector Index | J.P. Morgan | 12/16/2026 | 136,008 | 92,055,042 | (1,838,062 | ) | |||||||||||||
| SOFR + 0.5000% |
Total return of Financial Select Sector Index | UBS Securities LLC | 12/17/2026 | 59,124 | 40,237,297 | (1,060,670 | ) | |||||||||||||
|
|
|
|||||||||||||||||||
| $ | 275,271,274 | $ | (5,365,869 | ) | ||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Financial Bull 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 67.4% |
||||||||
| Administrative and Support Services - 6.4% |
||||||||
| 17,712 | Ameriprise Financial, Inc. | $ | 9,667,918 | |||||
| 12,875 | Corpay, Inc. (a) | 4,919,666 | ||||||
| 7,179 | FactSet Research System, Inc. (b) | 1,889,513 | ||||||
| 29,602 | Moody’s Corp. | 14,161,005 | ||||||
| 327,025 | Visa, Inc. Class A | 119,733,663 | ||||||
|
|
|
| ||||||
| 150,371,765 | ||||||||
|
|
|
| ||||||
| Chemical Manufacturing - 0.7% |
||||||||
| 111,430 | IntercontinentalExchange, Inc. | 16,990,847 | ||||||
|
|
|
| ||||||
| Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services - 0.2% |
||||||||
| 105,072 | Fiserv, Inc. (a) | 5,667,584 | ||||||
|
|
|
| ||||||
| Credit Intermediation and Related Activities - 28.2% |
||||||||
| 104,867 | American Express Co. | 35,261,529 | ||||||
| 1,286,412 | Bank of America Corp. | 79,693,223 | ||||||
| 135,248 | Bank of New York Mellon Corp. | 21,143,320 | ||||||
| 122,619 | Capital One Financial Corp. | 25,628,597 | ||||||
| 336,042 | Citigroup, Inc. | 44,508,763 | ||||||
| 83,326 | Citizens Financial Group, Inc. | 5,970,308 | ||||||
| 43,827 | Coinbase Global, Inc. (a) | 6,410,137 | ||||||
| 101,850 | Fidelity National Information Services, Inc. | 4,559,824 | ||||||
| 178,596 | Fifth Third Bancorp | 10,090,674 | ||||||
| 45,809 | Global Payments, Inc. | 3,851,621 | ||||||
| 399,443 | Huntington Bancshares, Inc. | 6,806,509 | ||||||
| 527,981 | JPMorgan Chase & Co. | 185,738,436 | ||||||
| 181,586 | KeyCorp | 4,102,028 | ||||||
| 28,854 | M&T Bank Corp. | 7,106,451 | ||||||
| 158,988 | MasterCard, Inc. Class A | 91,116,023 | ||||||
| 36,462 | Northern Trust Corp. | 6,643,012 | ||||||
| 79,126 | PNC Financial Services Group, Inc. | 19,771,213 | ||||||
| 168,143 | Regions Financial Corp. | 5,204,026 | ||||||
| 54,534 | State Street Corp. | 10,042,981 | ||||||
| 66,273 | Synchrony Financial | 5,022,831 | ||||||
| 245,487 | Truist Financial Corp. | 12,726,046 | ||||||
| 305,879 | U.S. Bancorp | 19,273,436 | ||||||
| 602,980 | Wells Fargo & Co. | 52,127,621 | ||||||
|
|
|
| ||||||
| 662,798,609 | ||||||||
|
|
|
| ||||||
| Funds, Trusts, and Other Financial Vehicles - 0.2% |
||||||||
| 42,216 | T. Rowe Price Group, Inc. | 4,717,638 | ||||||
|
|
|
| ||||||
| Insurance Carriers and Related Activities - 16.4% |
||||||||
| 90,256 | Aflac, Inc. | 11,505,835 | ||||||
| 50,723 | Allstate Corp. | 13,394,930 | ||||||
| 104,469 | American International Group, Inc. | 8,209,174 | ||||||
| 68,559 | Arch Capital Group Ltd. ADR (a) | 6,892,236 | ||||||
| 50,621 | Arthur J. Gallagher & Co. | 12,625,890 | ||||||
| 9,761 | Assurant, Inc. | 2,725,174 | ||||||
| 361,257 | Berkshire Hathaway, Inc. Class B (a) | 184,797,406 | ||||||
| 57,437 | Brown & Brown, Inc. | 4,043,565 | ||||||
| 71,074 | Chubb Limited ADR (Switzerland) | 24,924,230 | ||||||
| 30,482 | Cincinnati Financial Corp. | 5,416,042 | ||||||
| 5,005 | Erie Indemnity Co. Class A (b) | 1,211,410 | ||||||
| 7,796 | Everest Re Group Ltd. ADR | 2,916,873 | ||||||
| 15,299 | Globe Life, Inc. | 2,788,243 | ||||||
| 33,250 | Loews Corp. | 3,857,333 | ||||||
| 94,936 | Marsh & McLennan Companies, Inc. | 18,008,410 | ||||||
| 106,495 | MetLife, Inc. | 10,237,364 | ||||||
| 38,736 | Principal Financial Group, Inc. | 4,404,283 | ||||||
| 115,141 | Progressive Corp. | 24,343,110 | ||||||
| 68,373 | Prudential Financial, Inc. | 8,346,976 | ||||||
| 54,015 | The Hartford Insurance Group, Inc. | 7,665,269 | ||||||
| 41,898 | Travelers Companies, Inc. | 15,684,935 | ||||||
| 57,949 | W.R. Berkley Corp. | 4,203,620 | ||||||
| 18,610 | Willis Towers Watson PLC ADR (Ireland) | 6,251,471 | ||||||
|
|
|
| ||||||
| 384,453,779 | ||||||||
|
|
|
| ||||||
| Management of Companies and Enterprises - 0.7% |
||||||||
| 42,084 | Aon PLC ADR (United Kingdom) | 15,173,386 | ||||||
|
|
|
| ||||||
| Professional, Scientific, and Technical Services - 0.1% |
||||||||
| 14,000 | Jack Henry & Associates, Inc. (b) | 2,156,560 | ||||||
|
|
|
| ||||||
| Publishing Industries - 0.4% |
||||||||
| 105,447 | Block, Inc. (a) | 8,566,514 | ||||||
|
|
|
| ||||||
| Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 13.7% |
||||||||
| 90,877 | Apollo Global Management, Inc. | 11,413,242 | ||||||
| 41,568 | Ares Management Corp. (b) | 5,324,445 | ||||||
| 28,449 | Blackrock, Inc. | 31,020,505 | ||||||
| 20,622 | Cboe Global Markets, Inc. | 6,397,563 | ||||||
| 322,102 | Charles Schwab Corp. | 33,898,014 | ||||||
| 71,407 | CME Group, Inc. | 19,122,081 | ||||||
| 60,412 | Franklin Resources, Inc. | 2,045,550 | ||||||
| 58,129 | Goldman Sachs Group, Inc. | 59,197,411 | ||||||
| 87,783 | Interactive Brokers Group, Inc. Class A | 7,724,026 | ||||||
| 87,351 | Invesco Ltd. ADR | 2,585,590 | ||||||
| 136,237 | KKR & Co., Inc. | 13,818,519 | ||||||
| 236,205 | Morgan Stanley | 49,702,256 | ||||||
| 14,344 | MSCI, Inc. Class A | 8,208,211 | ||||||
| 88,036 | NASDAQ OMX Group, Inc. | 8,292,111 | ||||||
| 34,176 | Raymond James Financial, Inc. | 6,014,293 | ||||||
| 155,904 | Robinhood Markets, Inc. (a) | 13,495,050 | ||||||
| 59,743 | S&P Global, Inc. | 24,609,934 | ||||||
| 146,380 | The Blackstone Group, Inc. | 18,700,045 | ||||||
|
|
|
| ||||||
| 321,568,846 | ||||||||
|
|
|
| ||||||
| Telecommunications - 0.4% |
||||||||
| 173,785 | PayPal Holdings, Inc. | 9,942,240 | ||||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $1,305,597,134) | $ | 1,582,407,768 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 32.8% |
||||||||
| Money Market Funds - 32.8% |
||||||||
| 496,252,877 | Dreyfus Government Cash Management Institutional Shares, 3.56% (c) | $ | 496,252,877 | |||||
| 51,987,884 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (c) | 51,987,884 | ||||||
| 10,055,188 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (c) | 10,055,188 | ||||||
| 212,073,644 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (c) | 212,073,644 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $770,369,593) | $ | 770,369,593 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $2,075,966,727) - 100.2% (d) | $ | 2,352,777,361 | ||||||
| Liabilities in Excess of Other Assets - (0.2)% | (5,348,403) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 2,347,428,958 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | A portion of this security represents a security on loan. |
| (c) | Represents annualized seven-day yield at July 31, 2026. |
| (d) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $2,113,811,872. |
ADR - American Depository Receipt
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation |
||||||||||||
| Total return of Financial Select Sector Index |
SOFR + 0.9000% | BNP Paribas | 12/4/2026 | 1,464,053 | $ | 951,371,454 | $ | 61,863,165 | ||||||||||
| Total return of Financial Select Sector Index |
SOFR + 0.9000% | Goldman Sachs | 12/10/2026 | 321,882 | 200,715,329 | 23,825,893 | ||||||||||||
| Total return of Financial Select Sector Index |
SOFR + 0.8500% | Bank of America Merrill Lynch | 12/11/2026 | 1,537,125 | 1,032,248,544 | 42,890,837 | ||||||||||||
| Total return of Financial Select Sector Index |
SOFR + 0.8100% | Societe Generale | 12/14/2026 | 511,605 | 345,722,195 | 7,008,046 | ||||||||||||
| Total return of Financial Select Sector Index |
SOFR + 0.8500% | J.P. Morgan | 12/16/2026 | 438,408 | 300,027,355 | 4,218,167 | ||||||||||||
| Total return of Financial Select Sector Index |
SOFR + 0.8000% | UBS Securities LLC | 12/17/2026 | 671,154 | 414,025,431 | 53,126,677 | ||||||||||||
| Total return of Financial Select Sector Index |
SOFR + 0.9000% | Citibank N.A. | 12/22/2026 | 687,477 | 458,865,355 | 17,673,028 | ||||||||||||
| Total return of Financial Select Sector Index |
SOFR + 0.9000% | Barclays | 12/22/2026 | 2,147,948 | 1,416,129,209 | 72,083,741 | ||||||||||||
|
|
|
|||||||||||||||||
| $ | 5,119,104,872 | $ | 282,689,554 | |||||||||||||||
|
|
|
|||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily FTSE China Bear 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 104.6% |
||||||||
| Money Market Funds - 104.6% |
||||||||
| 68,032,298 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 68,032,298 | |||||
| 12,194,226 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 12,194,226 | ||||||
| 10,450,003 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 10,450,003 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $90,676,527) (b) | $ | 90,676,527 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $90,676,527) - 104.6% | $ | 90,676,527 | ||||||
| Liabilities in Excess of Other Assets - (4.6)% | (3,991,368) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 86,685,159 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $55,913,031. |
| Short Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) | ||||||||||||||
| SOFR + 0.0000% |
Total return of iShares China Large-Cap ETF | BNP Paribas | 12/4/2026 | 1,727,681 | $ | 66,688,973 | $ | 4,013,605 | ||||||||||||
| SOFR + 0.7500% |
Total return of iShares China Large-Cap ETF | Goldman Sachs | 12/10/2026 | 1,447,465 | 50,678,528 | (1,966,583 | ) | |||||||||||||
| SOFR + 0.6500% |
Total return of iShares China Large-Cap ETF | Bank of America Merrill Lynch | 12/11/2026 | 857,831 | 28,763,118 | (2,483,890 | ) | |||||||||||||
| SOFR + 0.3000% |
Total return of iShares China Large-Cap ETF | UBS Securities LLC | 12/17/2026 | 3,090,762 | 116,537,720 | 4,682,675 | ||||||||||||||
|
|
|
| ||||||||||||||||||
| $ | 262,668,339 | $ | 4,245,807 | |||||||||||||||||
|
|
|
| ||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily FTSE China Bull 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| INVESTMENT COMPANIES - 51.9% |
||||||||
| 10,713,717 | iShares China Large-Cap ETF (a) | $ | 391,050,671 | |||||
|
|
|
| ||||||
| TOTAL INVESTMENT COMPANIES (Cost $399,095,501) | $ | 391,050,671 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 54.5% |
||||||||
| Money Market Funds - 54.5% |
||||||||
| 138,267,227 | Dreyfus Government Cash Management Institutional Shares, 3.56% (b) | $ | 138,267,227 | |||||
| 46,800,000 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (b) | 46,800,000 | ||||||
| 47,130,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (b) | 47,130,000 | ||||||
| 178,690,775 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (b) | 178,690,775 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $410,888,002) | $ | 410,888,002 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $809,983,503) - 106.4% (c) | $ | 801,938,673 | ||||||
| Liabilities in Excess of Other Assets - (6.4)% | (47,936,877) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 754,001,796 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Shareholders may obtain the financial statements of these investment companies at www.sec.gov. |
| (b) | Represents annualized seven-day yield at July 31, 2026. |
| (c) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $668,572,398. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) | ||||||||||||||
| Total return of iShares China Large-Cap ETF |
SOFR + 0.9500% | BNP Paribas | 12/4/2026 | 386,226 | $ | 13,837,382 | $ | 106,730 | ||||||||||||
| Total return of iShares China Large-Cap ETF |
SOFR + 0.9500% | Goldman Sachs | 12/10/2026 | 4,557,591 | 149,850,815 | 15,916,794 | ||||||||||||||
| Total return of iShares China Large-Cap ETF |
SOFR + 0.9000% | Bank of America Merrill Lynch | 12/11/2026 | 11,791,625 | 414,376,373 | 14,388,992 | ||||||||||||||
| Total return of iShares China Large-Cap ETF |
SOFR + 3.0000% | Nomura | 12/11/2026 | 1,000,000 | 39,090,000 | (3,591,916 | ) | |||||||||||||
| Total return of iShares China Large-Cap ETF |
SOFR + 1.1500% | Societe Generale | 12/14/2026 | 5,250,000 | 205,170,000 | (16,230,878 | ) | |||||||||||||
| Total return of iShares China Large-Cap ETF |
SOFR + 0.6300% | UBS Securities LLC | 12/17/2026 | 5,729,577 | 206,864,348 | 1,282,837 | ||||||||||||||
| Total return of iShares China Large-Cap ETF |
SOFR + 0.7700% | Citibank N.A. | 12/22/2026 | 12,001,661 | 446,550,083 | (13,500,335 | ) | |||||||||||||
| Total return of iShares China Large-Cap ETF |
SOFR + 0.9500% | Barclays | 12/22/2026 | 10,539,270 | 396,338,834 | (14,651,628 | ) | |||||||||||||
|
|
|
| ||||||||||||||||||
| $ | 1,872,077,835 | $ | (16,279,404 | ) | ||||||||||||||||
|
|
|
| ||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily FTSE Europe Bull 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| INVESTMENT COMPANIES - 45.6% |
||||||||
| 257,696 | Vanguard FTSE Europe ETF (a)(b) | $ | 23,344,680 | |||||
|
|
|
| ||||||
| TOTAL INVESTMENT COMPANIES (Cost $21,574,100) | $ | 23,344,680 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 82.2% |
||||||||
| Money Market Funds - 82.2% |
||||||||
| 30,048,999 | Dreyfus Government Cash Management Institutional Shares, 3.56% (c)(d) | $ | 30,048,999 | |||||
| 10,516,310 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (c) | 10,516,310 | ||||||
| 1,523,860 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (c) | 1,523,860 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $42,089,169) | $ | 42,089,169 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $63,663,269) - 127.8% (e) | $ | 65,433,849 | ||||||
| Liabilities in Excess of Other Assets - (27.8)% | (14,199,495) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 51,234,354 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Shareholders may obtain the financial statements of these investment companies at www.sec.gov. |
| (b) | A portion of this security represents a security on loan. |
| (c) | Represents annualized seven-day yield at July 31, 2026. |
| (d) | All or a portion of this security represents an investment of securities lending collateral. |
| (e) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $28,019,266. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) | ||||||||||||||
| Total return of Vanguard FTSE Europe ETF |
SOFR + 0.5000% | BNP Paribas | 12/4/2026 | 790,821 | $ | 71,956,803 | $ | (277,316 | ) | |||||||||||
| Total return of Vanguard FTSE Europe ETF |
SOFR + 0.5000% | Goldman Sachs | 12/10/2026 | 507,643 | 44,330,600 | 1,793,920 | ||||||||||||||
| Total return of Vanguard FTSE Europe ETF |
SOFR + 0.6000% | J.P. Morgan | 12/16/2026 | 109,502 | 9,240,349 | 689,992 | ||||||||||||||
| Total return of Vanguard FTSE Europe ETF |
SOFR + 0.8400% | UBS Securities LLC | 12/17/2026 | 17,658 | 1,458,551 | 142,026 | ||||||||||||||
| Total return of Vanguard FTSE Europe ETF |
SOFR + 0.7500% | Citibank N.A. | 12/22/2026 | 13,259 | 1,097,712 | 94,641 | ||||||||||||||
|
|
|
| ||||||||||||||||||
| $ | 128,084,015 | $ | 2,443,263 | |||||||||||||||||
|
|
|
| ||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Healthcare Bull 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 67.1% |
||||||||
| Ambulatory Health Care Services - 0.9% |
||||||||
| 632 | DaVita, Inc. (a)(b) | 151,737 | ||||||
| 1,613 | Labcorp Holdings, Inc. | 498,739 | ||||||
| 2,178 | Quest Diagnostics, Inc. | 507,496 | ||||||
| 22,916 | Viatris, Inc. | 402,405 | ||||||
|
|
|
| ||||||
| 1,560,377 | ||||||||
|
|
|
| ||||||
| Chemical Manufacturing - 29.9% |
||||||||
| 34,766 | AbbVie, Inc. | 8,724,180 | ||||||
| 10,620 | Amgen, Inc. | 4,090,399 | ||||||
| 2,905 | Biogen, Inc. (a) | 589,570 | ||||||
| 3,081 | Bio-Techne Corp. | 222,109 | ||||||
| 40,183 | Bristol-Myers Squibb Co. | 2,624,352 | ||||||
| 15,566 | Eli Lilly & Co. | 17,882,843 | ||||||
| 24,431 | Gilead Sciences, Inc. | 3,181,161 | ||||||
| 3,302 | Incyte Corp. (a) | 394,655 | ||||||
| 48,599 | Merck & Co., Inc. | 6,327,590 | ||||||
| 112,150 | Pfizer, Inc. | 2,804,871 | ||||||
| 1,966 | Regeneron Pharmaceuticals, Inc. | 1,499,331 | ||||||
| 4,994 | Vertex Pharmaceuticals, Inc. (a) | 2,382,637 | ||||||
| 8,250 | Zoetis, Inc. | 637,643 | ||||||
|
|
|
| ||||||
| 51,361,341 | ||||||||
|
|
|
| ||||||
| Computer and Electronic Product Manufacturing - 5.2% |
||||||||
| 5,561 | Agilent Technologies, Inc. | 769,476 | ||||||
| 12,395 | Danaher Corp. | 2,416,777 | ||||||
| 8,951 | GE HealthCare Technologies, Inc. | 608,847 | ||||||
| 2,195 | Revvity, Inc. (b) | 246,981 | ||||||
| 7,313 | Thermo Fisher Scientific, Inc. | 4,199,856 | ||||||
| 1,932 | Waters Corp. (a) | 728,963 | ||||||
|
|
|
| ||||||
| 8,970,900 | ||||||||
|
|
|
| ||||||
| Health and Personal Care Retailers - 1.5% |
||||||||
| 25,107 | CVS Health Corp. | 2,621,924 | ||||||
|
|
|
| ||||||
| Hospitals - 0.8% |
||||||||
| 3,056 | HCA Healthcare, Inc. | 1,230,315 | ||||||
| 1,049 | Universal Health Services, Inc. Class B (b) | 176,694 | ||||||
|
|
|
| ||||||
| 1,407,009 | ||||||||
|
|
|
| ||||||
| Insurance Carriers and Related Activities - 6.9% |
||||||||
| 9,231 | Centene Corp. (a) | 574,353 | ||||||
| 5,205 | Cigna Corp. | 1,452,455 | ||||||
| 4,273 | Elevance Health, Inc. | 1,605,964 | ||||||
| 2,362 | Humana, Inc. | 859,437 | ||||||
| 17,869 | UnitedHealth Group, Inc. | 7,404,914 | ||||||
|
|
|
| ||||||
| 11,897,123 | ||||||||
|
|
|
| ||||||
| Machinery Manufacturing - 0.3% |
||||||||
| 397 | Mettler-Toledo International, Inc. (a) | 562,271 | ||||||
|
|
|
| ||||||
| Management of Companies and Enterprises - 2.1% |
||||||||
| 34,274 | Abbott Laboratories | 3,622,762 | ||||||
|
|
|
| ||||||
| Merchant Wholesalers, Durable Goods - 0.1% |
||||||||
| 1,905 | Henry Schein, Inc. (a) | 163,354 | ||||||
|
|
|
| ||||||
| Merchant Wholesalers, Nondurable Goods - 2.5% |
||||||||
| 4,609 | Cardinal Health, Inc. | 1,060,208 | ||||||
| 3,828 | Cencora, Inc. | 1,191,810 | ||||||
| 2,365 | McKesson Corp. | 2,024,889 | ||||||
|
|
|
| ||||||
| 4,276,907 | ||||||||
|
|
|
| ||||||
| Miscellaneous Manufacturing - 14.9% |
||||||||
| 1,311 | Align Technology, Inc. (a) | 221,769 | ||||||
| 10,162 | Baxter International, Inc. (b) | 265,838 | ||||||
| 5,422 | Becton, Dickinson & Co. | 897,992 | ||||||
| 29,248 | Boston Scientific Corp. (a) | 1,366,759 | ||||||
| 7,593 | DexCom, Inc. (a) | 633,636 | ||||||
| 11,330 | Edwards Lifesciences Corp. (a) | 975,173 | ||||||
| 1,363 | Insulet Corp. (a) | 225,372 | ||||||
| 6,969 | Intuitive Surgical, Inc. (a) | 2,462,357 | ||||||
| 47,367 | Johnson & Johnson | 12,142,530 | ||||||
| 25,264 | Medtronic PLC ADR (Ireland) | 2,157,293 | ||||||
| 2,854 | ResMed, Inc. | 602,137 | ||||||
| 2,896 | Solventum Corp. (a) | 247,434 | ||||||
| 1,930 | Steris PLC ADR (Ireland) | 440,812 | ||||||
| 6,789 | Stryker Corp. | 2,211,177 | ||||||
| 3,839 | The Cooper Companys, Inc. (a) | 277,636 | ||||||
| 3,807 | Zimmer Biomet Holdings, Inc. | 357,592 | ||||||
|
|
|
| ||||||
| 25,485,507 | ||||||||
|
|
|
| ||||||
| Plastics and Rubber Products Manufacturing - 0.3% |
||||||||
| 1,390 | West Pharmaceutical Services, Inc. | 473,934 | ||||||
|
|
|
| ||||||
| Professional, Scientific, and Technical Services - 1.3% |
||||||||
| 947 | Charles River Laboratories International, Inc. (a) | 220,187 | ||||||
| 1,552 | IDEXX Laboratories, Inc. (a) | 867,677 | ||||||
| 3,284 | IQVIA Holdings, Inc. (a) | 771,806 | ||||||
| 6,948 | Moderna, Inc. (a) | 380,889 | ||||||
|
|
|
| ||||||
| 2,240,559 | ||||||||
|
|
|
| ||||||
| Publishing Industries - 0.4% |
||||||||
| 2,954 | Veeva Systems, Inc. (a) | 601,966 | ||||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS | ||||||||
| (Cost $95,561,330) | $ | 115,245,934 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 34.5% |
||||||||
| Money Market Funds - 34.5% |
||||||||
| 32,272,109 | Dreyfus Government Cash Management Institutional Shares, 3.56% (c)(d) | $ | 32,272,109 | |||||
| 14,063,965 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (c) | 14,063,965 | ||||||
| 12,906,035 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (c) | 12,906,035 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $59,242,109) | $ | 59,242,109 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $154,803,439) - 101.6% (e) | $ | 174,488,043 | ||||||
| Liabilities in Excess of Other Assets - (1.6)% | (2,740,298) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 171,747,745 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | A portion of this security represents a security on loan. |
| (c) | Represents annualized seven-day yield at July 31, 2026. |
| (d) | All or a portion of this security represents an investment of securities lending collateral. |
| (e) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $128,650,605. |
ADR - American Depository Receipt
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation | ||||||||||||||
| Total return of Health Care Select Sector Index |
SOFR + 0.7500% | J.P. Morgan | 12/16/2026 | 66,028 | $ | 106,176,144 | $ | 974,077 | ||||||||||||
| Total return of Health Care Select Sector Index |
SOFR + 0.7000% | UBS Securities LLC | 12/17/2026 | 40,634 | 64,006,502 | 1,929,299 | ||||||||||||||
| Total return of Health Care Select Sector Index |
SOFR + 0.6500% | Citibank N.A. | 12/22/2026 | 39,875 | 59,252,735 | 5,738,680 | ||||||||||||||
| Total return of Health Care Select Sector Index |
SOFR + 0.7000% | Barclays | 12/22/2026 | 97,068 | 144,423,758 | 14,225,661 | ||||||||||||||
|
|
|
| ||||||||||||||||||
| $ | 373,859,139 | $ | 22,867,717 | |||||||||||||||||
|
|
|
| ||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Homebuilders & Supplies Bull 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 75.3% |
||||||||
| Building Material and Garden Equipment and Supplies Dealers - 7.5% |
||||||||
| 88,350 | Lowe’s Companies, Inc. | 18,360,014 | ||||||
| 178,368 | MasterBrand, Inc. (a)(b) | 1,471,536 | ||||||
| 59,891 | The Home Depot, Inc. | 19,881,416 | ||||||
|
|
|
| ||||||
| 39,712,966 | ||||||||
|
|
|
| ||||||
| Construction of Buildings - 41.9% |
||||||||
| 44,046 | Beazer Homes USA, Inc. (a)(b) | 1,413,877 | ||||||
| 44,371 | Century Communities, Inc. (b) | 2,979,956 | ||||||
| 460,479 | D.R. Horton, Inc. | 65,876,126 | ||||||
| 49,150 | Dream Finders Home, Inc. (a)(b) | 628,628 | ||||||
| 53,548 | Green Brick Partners , Inc. (a) | 3,787,450 | ||||||
| 8,223 | Hovnanian Enterprises, Inc. (a) | 1,018,830 | ||||||
| 111,070 | KB Home | 6,105,518 | ||||||
| 15,720 | Lennar Corp. (b) | 1,268,604 | ||||||
| 375,820 | Lennar Corp. Class A | 30,948,777 | ||||||
| 36,246 | LGI Homes, Inc. (a) | 1,977,944 | ||||||
| 45,368 | M/I Homes, Inc. (a)(b) | 6,629,626 | ||||||
| 118,258 | Meritage Homes Corp. | 8,301,712 | ||||||
| 4,713 | NVR, Inc. (a) | 28,971,047 | ||||||
| 332,598 | PulteGroup, Inc. | 42,063,669 | ||||||
| 145,642 | Toll Brothers, Inc. | 21,247,711 | ||||||
|
|
|
| ||||||
| 223,219,475 | ||||||||
|
|
|
| ||||||
| Furniture and Related Product Manufacturing - 0.3% |
||||||||
| 35,954 | La-Z-Boy, Inc. | 1,415,869 | ||||||
|
|
|
| ||||||
| Furniture, Home Furnishings, Electronics, and Appliance Retailers - 1.2% |
||||||||
| 47,816 | Arhaus, Inc. | 354,316 | ||||||
| 20,344 | Ethan Allen Interiors, Inc. | 455,706 | ||||||
| 94,976 | Floor & Decor Holdings, Inc. Class A (a)(b) | 5,467,768 | ||||||
|
|
|
| ||||||
| 6,277,790 | ||||||||
|
|
|
| ||||||
| Machinery Manufacturing - 0.5% |
||||||||
| 175,376 | Hayward Holdings, Inc. (a)(b) | 2,653,439 | ||||||
|
|
|
| ||||||
| Merchant Wholesalers, Durable Goods - 6.1% |
||||||||
| 94,501 | Builders FirstSource, Inc. (a) | 6,278,646 | ||||||
| 104,806 | Fortune Brands Innovations, Inc. (b) | 5,162,744 | ||||||
| 33,850 | Griffon Corp. | 2,916,855 | ||||||
| 119,871 | Leggett & Platt, Inc. | 1,174,736 | ||||||
| 27,821 | Lennox International, Inc. | 11,570,197 | ||||||
| 44,982 | Mohawk Industries, Inc. (a) | 5,537,284 | ||||||
|
|
|
| ||||||
| 32,640,462 | ||||||||
|
|
|
| ||||||
| Merchant Wholesalers, Nondurable Goods - 4.0% |
||||||||
| 62,851 | The Sherwin Williams Co. | 21,422,763 | ||||||
|
|
|
| ||||||
| Nonmetallic Mineral Product Manufacturing - 3.0% |
||||||||
| 27,612 | Eagle Materials, Inc. | 5,658,803 | ||||||
| 70,749 | Owens Corning | 9,827,036 | ||||||
| 39,963 | Quanex Building Products Corp. (b) | 712,940 | ||||||
|
|
|
| ||||||
| 16,198,779 | ||||||||
|
|
|
| ||||||
| Primary Metal Manufacturing - 0.2% |
||||||||
| 26,058 | Gibraltar Industries, Inc. (a) | 1,101,211 | ||||||
|
|
|
| ||||||
| Professional, Scientific, and Technical Services - 1.3% |
||||||||
| 36,143 | Simpson Manufacturing Co., Inc. | 6,785,487 | ||||||
|
|
|
| ||||||
| Specialty Trade Contractors - 1.7% |
||||||||
| 39,876 | Installed Building Products, Inc. | 8,889,955 | ||||||
|
|
|
| ||||||
| Wood Product Manufacturing - 7.6% |
||||||||
| 13,760 | Cavco Industries, Inc. (a) | 7,527,133 | ||||||
| 98,048 | Champion Homes, Inc. (a) | 7,805,601 | ||||||
| 75,690 | JELD-WEN Holding, Inc. (a) | 107,480 | ||||||
| 55,858 | Louisiana-Pacific Corp. | 4,045,795 | ||||||
| 177,248 | Masco Corp. | 12,669,687 | ||||||
| 91,286 | Trex Company, Inc. (a) | 3,958,161 | ||||||
| 49,624 | UFP Industries, Inc. | 4,304,386 | ||||||
|
|
|
| ||||||
| 40,418,243 | ||||||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $395,446,858) | $ | 400,736,439 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 30.4% |
||||||||
| Money Market Funds - 30.4% |
||||||||
| 91,632,546 | Dreyfus Government Cash Management Institutional Shares, 3.56% (c)(d) | $ | 91,632,546 | |||||
| 30,693,403 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (c) | 30,693,403 | ||||||
| 10,243,009 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (c) | 10,243,009 | ||||||
| 29,068,516 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (c) | 29,068,516 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $161,637,474) | $ | 161,637,474 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $557,084,332) - 105.7% (e) | $ | 562,373,913 | ||||||
| Liabilities in Excess of Other Assets - (5.7)% | (30,160,991) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 532,212,922 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | A portion of this security represents a security on loan. |
| (c) | Represents annualized seven-day yield at July 31, 2026. |
| (d) | All or a portion of this security represents an investment of securities lending collateral. |
| (e) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $421,548,619. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) | ||||||||||||
| Total return of Dow Jones U.S. Select Home Construction Index |
SOFR + 0.7900% | BNP Paribas | 12/4/2026 | 7,210 | $ | 132,609,521 | $ | (12,388,032 | ) | |||||||||
| Total return of Dow Jones U.S. Select Home Construction Index |
SOFR + 1.0000% | Goldman Sachs | 12/10/2026 | 16,338 | 280,146,036 | (4,506,836 | ) | |||||||||||
| Total return of Dow Jones U.S. Select Home Construction Index |
SOFR + 1.0000% | Bank of America Merrill Lynch | 12/11/2026 | 9,332 | 149,116,094 | 8,127,124 | ||||||||||||
| Total return of Dow Jones U.S. Select Home Construction Index |
SOFR + 0.7500% | Citibank N.A. | 12/22/2026 | 17,522 | 287,758,902 | 7,289,628 | ||||||||||||||
| Total return of Dow Jones U.S. Select Home Construction Index |
SOFR + 0.7000% | Barclays | 12/22/2026 | 19,993 | 342,871,141 | (7,011,874 | ) | |||||||||||||
|
|
|
| ||||||||||||||||||
| $ | 1,192,501,694 | $ | (8,489,990 | ) | ||||||||||||||||
|
|
|
| ||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Industrials Bull 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 73.3% |
||||||||
| Administrative and Support Services - 5.2% |
||||||||
| 635 | Allegion PLC ADR (Ireland) | $ | 99,949 | |||||
| 2,953 | Automatic Data Processing, Inc. | 786,856 | ||||||
| 854 | Broadridge Financial Solutions, Inc. | 131,473 | ||||||
| 880 | Equifax, Inc. | 151,906 | ||||||
| 2,170 | Rollins, Inc. | 82,395 | ||||||
| 15,039 | Uber Technologies, Inc. (a) | 1,058,144 | ||||||
| 2,730 | Waste Management, Inc. | 618,482 | ||||||
|
|
|
| ||||||
| 2,929,205 | ||||||||
|
|
|
| ||||||
| Air Transportation - 1.5% |
||||||||
| 4,828 | Delta Air Lines, Inc. | 422,160 | ||||||
| 3,611 | Southwest Airlines Co. | 162,387 | ||||||
| 2,398 | United Continental Holdings, Inc. (a) | 290,949 | ||||||
|
|
|
| ||||||
| 875,496 | ||||||||
|
|
|
| ||||||
| Apparel Manufacturing - 0.9% |
||||||||
| 2,512 | Cintas Corp. | 514,031 | ||||||
|
|
|
| ||||||
| Chemical Manufacturing - 0.2% |
||||||||
| 1,009 | DuPont de Nemours, Inc. (a) | 138,233 | ||||||
|
|
|
| ||||||
| Computer and Electronic Product Manufacturing - 8.2% |
||||||||
| 1,693 | AMETEK, Inc. | 409,215 | ||||||
| 2,252 | Fortive Corp. | 133,341 | ||||||
| 1,376 | L3Harris Technologies, Inc. | 381,235 | ||||||
| 986 | Northrop Grumman Corp. | 534,885 | ||||||
| 2,835 | Otis Worldwide Corp. | 203,978 | ||||||
| 9,949 | RTX Corp. | 2,141,224 | ||||||
| 1,814 | Veralto Corp. | 170,824 | ||||||
| 2,838 | Vertiv Holdings Co. | 685,576 | ||||||
|
|
|
| ||||||
| 4,660,278 | ||||||||
|
|
|
| ||||||
| Couriers and Messengers - 1.9% |
||||||||
| 1,622 | FedEx Corp. | 498,603 | ||||||
| 5,516 | United Parcel Service, Inc. Class B | 574,877 | ||||||
|
|
|
| ||||||
| 1,073,480 | ||||||||
|
|
|
| ||||||
| Electrical Equipment, Appliance, and Component Manufacturing - 2.6% |
||||||||
| 827 | A.O. Smith Corp. | 49,728 | ||||||
| 595 | Axon Enterprise, Inc. (a)(b) | 314,017 | ||||||
| 4,138 | Emerson Electric Co. | 619,955 | ||||||
| 435 | Generac Holdings, Inc. (a) | 85,743 | ||||||
| 822 | Rockwell Automation, Inc. | 394,626 | ||||||
|
|
|
| ||||||
| 1,464,069 | ||||||||
|
|
|
| ||||||
| Fabricated Metal Product Manufacturing - 0.6% |
||||||||
| 1,194 | Pentair PLC ADR (Ireland) | 78,135 | ||||||
| 383 | Snap-on, Inc. | 157,187 | ||||||
| 1,149 | Stanley Black & Decker, Inc. (b) | 108,673 | ||||||
|
|
|
| ||||||
| 343,995 | ||||||||
|
|
|
| ||||||
| Machinery Manufacturing - 17.7% |
||||||||
| 5,768 | Carrier Global Corp. | 356,520 | ||||||
| 3,403 | Caterpillar, Inc. | 2,772,798 | ||||||
| 1,019 | Cummins, Inc. | 646,250 | ||||||
| 1,856 | Deere & Co. | 1,099,996 | ||||||
| 7,708 | GE Aerospace | 2,775,420 | ||||||
| 547 | IDEX Corp. | 126,056 | ||||||
| 2,631 | Ingersoll Rand, Inc. | 219,373 | ||||||
| 392 | Nordson Corp. | 116,730 | ||||||
| 932 | Parker Hannifin Corp. | 910,126 | ||||||
| 1,633 | Trane Technologies PLC ADR (Ireland) | 742,933 | ||||||
| 1,756 | Xylem, Inc. | 205,399 | ||||||
|
|
|
| ||||||
| 9,971,601 | ||||||||
|
|
|
| ||||||
| Merchant Wholesalers, Durable Goods - 3.8% |
||||||||
| 795 | Builders FirstSource, Inc. (a) | 52,820 | ||||||
| 6,548 | Copart, Inc. (a) | 190,678 | ||||||
| 8,482 | Fastenal Co. | 404,676 | ||||||
| 390 | Hubbell, Inc. | 184,294 | ||||||
| 291 | Huntington Ingalls Industries, Inc. | 94,997 | ||||||
| 4,508 | Johnson Controls International PLC ADR (Ireland) | 661,143 | ||||||
| 234 | Lennox International, Inc. | 97,316 | ||||||
| 321 | W.W. Grainger, Inc. | 443,693 | ||||||
|
|
|
| ||||||
| 2,129,617 | ||||||||
|
|
|
| ||||||
| Merchant Wholesalers, Nondurable Goods - 1.0% |
||||||||
| 1,934 | Illinois Tool Works, Inc. | 554,961 | ||||||
|
|
|
| ||||||
| Miscellaneous Manufacturing - 1.7% |
||||||||
| 3,853 | 3M Co. | 679,207 | ||||||
| 995 | Dover Corp. | 203,597 | ||||||
| 1,285 | Textron, Inc. | 109,559 | ||||||
|
|
|
| ||||||
| 992,363 | ||||||||
|
|
|
| ||||||
| National Security and International Affairs - 0.2% |
||||||||
| 929 | Leidos Holdings, Inc. | 107,392 | ||||||
|
|
|
| ||||||
| Primary Metal Manufacturing - 1.5% |
||||||||
| 2,956 | Howmet Aerospace, Inc. | 834,361 | ||||||
|
|
|
| ||||||
| Professional, Scientific, and Technical Services - 3.1% |
||||||||
| 2,869 | Eaton Corporation PLC ADR (Ireland) | 1,191,209 | ||||||
| 872 | Jacobs Solutions, Inc. | 117,659 | ||||||
| 2,382 | Paychex, Inc. | 278,313 | ||||||
| 968 | Verisk Analytics, Inc. Class A | 188,614 | ||||||
|
|
|
| ||||||
| 1,775,795 | ||||||||
|
|
|
| ||||||
| Rail Transportation - 3.5% |
||||||||
| 13,728 | CSX Corp. | 691,891 | ||||||
| 4,386 | Union Pacific Corp. | 1,281,282 | ||||||
|
|
|
| ||||||
| 1,973,173 | ||||||||
|
|
|
| ||||||
| Rental and Leasing Services - 0.9% |
||||||||
| 463 | United Rentals, Inc. | 499,697 | ||||||
|
|
|
| ||||||
| Specialty Trade Contractors - 2.6% |
||||||||
| 260 | Comfort Systems USA, Inc. | 449,720 | ||||||
| 328 | EMCOR Group, Inc. | 261,557 | ||||||
| 1,109 | Quanta Services, Inc. | 740,102 | ||||||
|
|
|
| ||||||
| 1,451,379 | ||||||||
|
|
|
| ||||||
| Support Activities for Transportation - 1.8% |
||||||||
| 871 | C.H. Robinson Worldwide, Inc. | 128,673 | ||||||
| 966 | Expeditors International of Washington, Inc. | 162,182 | ||||||
| 550 | J.B. Hunt Transport Services, Inc. | 149,462 | ||||||
| 1,659 | Norfolk Southern Corp. | 556,561 | ||||||
|
|
|
| ||||||
| 996,878 | ||||||||
|
|
|
| ||||||
| Transportation Equipment Manufacturing - 8.7% |
||||||||
| 5,824 | Boeing Co. (a) | 1,258,799 | ||||||
| 805 | Fedex Freight Holding Co., Inc. (a) | 113,127 | ||||||
| 1,875 | General Dynamics Corp. | 718,913 | ||||||
| 2,340 | Honeywell International, Inc. | 568,737 | ||||||
| 1,499 | Lockheed Martin Corp. | 873,527 | ||||||
| 3,888 | Paccar, Inc. | 515,860 | ||||||
| 413 | TransDigm Group, Inc. | 518,059 | ||||||
| 1,254 | Wabtec Corp. | 364,738 | ||||||
|
|
|
| ||||||
| 4,931,760 | ||||||||
|
|
|
| ||||||
| Truck Transportation - 1.4% |
||||||||
| 2,340 | Honeywell Aerospace, Inc. (a) | 483,772 | ||||||
| 1,352 | Old Dominion Freight Line, Inc. | 286,813 | ||||||
|
|
|
| ||||||
| 770,585 | ||||||||
|
|
|
| ||||||
| Utilities - 3.5% |
||||||||
| 1,985 | GE Vernova, Inc. | 1,965,726 | ||||||
|
|
|
| ||||||
| Waste Management and Remediation Services - 0.5% |
||||||||
| 1,477 | Republic Services, Inc. | 310,982 | ||||||
|
|
|
| ||||||
| Wood Product Manufacturing - 0.2% |
||||||||
| 1,490 | Masco Corp. | 106,505 | ||||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS | ||||||||
| (Cost $37,846,429) | $ | 42,918,886 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 24.9% |
||||||||
| Money Market Funds - 24.9% |
||||||||
| 2,563,078 | Dreyfus Government Cash Management Institutional Shares, 3.56% (c)(d) | $ | 2,563,078 | |||||
| 1,160,564 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (c) | 1,160,564 | ||||||
| 10,323,002 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (c) | 10,323,002 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $14,046,644) | $ | 14,046,644 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $51,893,074) - 98.2% (e) | $ | 56,965,530 | ||||||
| Other Assets in Excess of Liabilities - 1.8% | (502,154) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 56,463,376 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | A portion of this security represents a security on loan. |
| (c) | Represents annualized seven-day yield at July 31, 2026. |
| (d) | All or a portion of this security represents an investment of securities lending collateral. |
| (e) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $38,463,448. |
ADR - American Depository Receipt
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination | Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation | ||||||||||||||
| Total return of Industrials Select Sector Index |
SOFR + 0.6500% | Bank of America Merrill Lynch | 12/11/2026 | 19,327 | $ | 32,690,660 | $ | 1,978,611 | ||||||||||||
| Total return of Industrials Select Sector Index |
SOFR + 0.7500% | J.P. Morgan | 12/16/2026 | 11,189 | 18,329,871 | 1,671,378 | ||||||||||||||
| Total return of Industrials Select Sector Index |
SOFR + 0.7000% | UBS Securities LLC | 12/17/2026 | 15,199 | 24,045,750 | 3,082,673 | ||||||||||||||
| Total return of Industrials Select Sector Index |
SOFR + 0.8000% | Citibank N.A. | 12/22/2026 | 7,856 | 12,437,857 | 1,565,530 | ||||||||||||||
| Total return of Industrials Select Sector Index |
SOFR + 0.7000% | Barclays | 12/22/2026 | 17,071 | 27,841,110 | 2,644,103 | ||||||||||||||
|
|
|
| ||||||||||||||||||
| $ | 115,345,248 | $ | 10,942,295 | |||||||||||||||||
|
|
|
| ||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Mid Cap Bull 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 76.2% |
||||||||
| Accommodation - 0.8% |
||||||||
| 808 | Boyd Gaming Corp. (b) | $ | 68,729 | |||||
| 298 | Choice Hotels International, Inc. | 33,224 | ||||||
| 882 | Hilton Grand Vacations, Inc. (a) | 40,696 | ||||||
| 603 | Hyatt Hotels Corp. Class A (b) | 104,958 | ||||||
| 2,957 | Park Hotels & Resorts, Inc. (b) | 44,532 | ||||||
| 916 | Travel + Leisure Co. | 69,634 | ||||||
| 523 | Vail Resorts, Inc. (b) | 78,126 | ||||||
| 1,099 | Wyndham Hotels & Resorts, Inc. | 82,271 | ||||||
|
|
|
| ||||||
| 522,170 | ||||||||
|
|
|
| ||||||
| Administrative and Support Services - 1.2% |
||||||||
| 905 | MasTec, Inc. (a) | 238,105 | ||||||
| 2,736 | RB Global, Inc. ADR (Canada) | 300,249 | ||||||
| 2,832 | TransUnion | 222,652 | ||||||
| 2,147 | Warner Music Group Corp. Class A | 55,736 | ||||||
|
|
|
| ||||||
| 816,742 | ||||||||
|
|
|
| ||||||
| Air Transportation - 0.3% |
||||||||
| 1,636 | Alaska Air Group, Inc. (a) | 77,628 | ||||||
| 9,713 | American Airlines Group, Inc. (a) | 148,318 | ||||||
|
|
|
| ||||||
| 225,946 | ||||||||
|
|
|
| ||||||
| Ambulatory Health Care Services - 0.8% |
||||||||
| 2,322 | BrightSpring Health Services, Inc. (a) | 138,647 | ||||||
| 3,112 | Hims & Hers Health, Inc. (a)(b) | 86,420 | ||||||
| 331 | Medpace Holdings, Inc. (a) | 191,024 | ||||||
| 765 | Molina Healthcare, Inc. (a) | 149,649 | ||||||
|
|
|
| ||||||
| 565,740 | ||||||||
|
|
|
| ||||||
| Apparel Manufacturing - 0.3% |
||||||||
| 1,749 | Capri Holdings Ltd. ADR (a) | 27,862 | ||||||
| 353 | Columbia Sportswear Co. | 20,961 | ||||||
| 677 | PVH Corp. | 58,669 | ||||||
| 4,826 | VF Corp. (b) | 69,108 | ||||||
|
|
|
| ||||||
| 176,600 | ||||||||
|
|
|
| ||||||
| Beverage and Tobacco Product Manufacturing - 0.3% |
||||||||
| 110 | Boston Beer Co., Inc. Class A (a) | 20,152 | ||||||
| 830 | Coca-Cola Consolidated, Inc. | 155,957 | ||||||
|
|
|
| ||||||
| 176,109 | ||||||||
|
|
|
| ||||||
| Broadcasting and Content Providers - 0.6% |
||||||||
| 421 | Nexstar Media Group, Inc. | 80,213 | ||||||
| 1,926 | Roku, Inc. (a) | 279,290 | ||||||
| 2,768 | Sirius XM Holdings, Inc. (b) | 81,988 | ||||||
|
|
|
| ||||||
| 441,491 | ||||||||
|
|
|
| ||||||
| Building Material and Garden Equipment and Supplies Dealers - 0.1% |
||||||||
| 833 | Knife River Corp. (a)(b) | 60,951 | ||||||
|
|
|
| ||||||
| Chemical Manufacturing - 3.8% |
||||||||
| 2,069 | Arrowhead Pharmaceuticals, Inc. (a) | 175,141 | ||||||
| 672 | Ashland, Inc. | 48,794 | ||||||
| 1,347 | Avient Corp. | 48,923 | ||||||
| 2,838 | BioMarin Pharmaceutical, Inc. (a) | 170,337 | ||||||
| 758 | Cabot Corp. (b) | 66,719 | ||||||
| 7,335 | Elanco Animal Health, Inc. (a) | 193,424 | ||||||
| 1,742 | Halozyme Therapeutics, Inc. (a)(b) | 143,785 | ||||||
| 921 | Jazz Pharmaceuticals PLC ADR (Ireland) (a) | 232,884 | ||||||
| 385 | Krystal Biotech, Inc. (a) | 131,331 | ||||||
| 956 | Lantheus Holdings, Inc. (a) | 95,256 | ||||||
| 1,476 | Neurocrine Biosciences, Inc. (a) | 246,197 | ||||||
| 112 | NewMarket Corp. | 95,218 | ||||||
| 1,673 | Olin Corp. | 30,967 | ||||||
| 779 | Repligen Corp. (a)(b) | 109,847 | ||||||
| 6,622 | Roivant Sciences Ltd. ADR (Ireland) (a) | 224,552 | ||||||
| 1,874 | RPM International, Inc. | 200,649 | ||||||
| 658 | Scotts Miracle-Gro Co. | 43,217 | ||||||
| 623 | United Therapeutics Corp. (a) | 322,533 | ||||||
| 490 | Westlake Chemical Corp. | 34,545 | ||||||
|
|
|
| ||||||
| 2,614,319 | ||||||||
|
|
|
| ||||||
| Clothing, Clothing Accessories, Shoe, and Jewelry Retailers - 0.3% |
||||||||
| 657 | Abercrombie & Fitch Co. Class A (a)(b) | 65,398 | ||||||
| 2,957 | Bath & Body Works, Inc. | 59,495 | ||||||
| 3,272 | Gap, Inc. | 65,734 | ||||||
|
|
|
| ||||||
| 190,627 | ||||||||
|
|
|
| ||||||
| Computer and Electronic Product Manufacturing - 5.5% |
||||||||
| 559 | Advanced Energy Industries, Inc. | 161,842 | ||||||
| 1,675 | Amkor Technology, Inc. | 83,532 | ||||||
| 265 | Bio-Rad Laboratories, Inc. Class A (a)(b) | 86,252 | ||||||
| 1,632 | Bruker Corp. (b) | 102,555 | ||||||
| 749 | Cirrus Logic, Inc. (a) | 96,883 | ||||||
| 2,444 | Cognex Corp. | 159,447 | ||||||
| 886 | Dolby Laboratories, Inc. | 52,106 | ||||||
| 526 | Fabrinet ADR (Thailand) (a) | 229,026 | ||||||
| 2,222 | Illumina, Inc. (a) | 455,732 | ||||||
| 379 | InterDigital, Inc. (b) | 115,529 | ||||||
| 2,012 | Lattice Semiconductor Corp. (a) | 250,031 | ||||||
| 807 | LivaNova PLC ADR (United Kingdom) (a) | 64,673 | ||||||
| 963 | MACOM Technology Solutions Holdings, Inc. (a) | 242,137 | ||||||
| 992 | MKS, Inc. | 295,070 | ||||||
| 417 | Moog, Inc. Class A | 162,567 | ||||||
| 1,589 | Rambus, Inc. (a) | 144,647 | ||||||
| 787 | Sanmina Corp. (a) | 146,036 | ||||||
| 1,368 | Semtech Corp. (a) | 161,178 | ||||||
| 2,136 | Sensata Technologies Holdings PLC ADR (United Kingdom) | 98,875 | ||||||
| 326 | SiTime Corp. (a) | 174,475 | ||||||
| 1,525 | TTM Technologies, Inc. (a) | 176,046 | ||||||
| 638 | Universal Display Corp. | 51,142 | ||||||
| 3,435 | Viavi Solutions, Inc. (a) | 126,923 | ||||||
| 344 | Vicor Corp. (a) | 71,335 | ||||||
| 2,068 | Vontier Corp. | 66,445 | ||||||
|
|
|
| ||||||
| 3,774,484 | ||||||||
|
|
|
| ||||||
| Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services - 1.6% |
||||||||
| 1,823 | Allegro MicroSystems, Inc. (a)(b) | 75,654 | ||||||
| 4,633 | Everpure, Inc. (a) | 357,529 | ||||||
| 2,244 | ExlService Holdings, Inc. (a) | 76,139 | ||||||
| 3,311 | Kyndryl Holdings, Inc. (a) | 44,864 | ||||||
| 523 | Novanta, Inc. ADR (Canada) (a) | 74,554 | ||||||
| 730 | Onto Innovation, Inc. (a) | 188,763 | ||||||
| 7,075 | Pinterest, Inc. (a) | 169,871 | ||||||
| 509 | WEX, Inc. (a)(b) | 95,163 | ||||||
|
|
|
| ||||||
| 1,082,537 | ||||||||
|
|
|
| ||||||
| Construction of Buildings - 0.8% |
||||||||
| 10,027 | Avantor, Inc. (a)(b) | 138,172 | ||||||
| 441 | Dycom Industries, Inc. (a) | 176,872 | ||||||
| 920 | KB Home | 50,572 | ||||||
| 1,391 | Toll Brothers, Inc. | 202,933 | ||||||
|
|
|
| ||||||
| 568,549 | ||||||||
|
|
|
| ||||||
| Credit Intermediation and Related Activities - 4.5% |
||||||||
| 4,096 | Ally Financial, Inc. | 177,480 | ||||||
| 2,399 | Associated Banc-Corp. | 74,081 | ||||||
| 1,507 | Bank OZK | 77,309 | ||||||
| 4,252 | Columbia Banking System, Inc. | 132,960 | ||||||
| 1,991 | Commerce Bancshares, Inc. | 118,007 | ||||||
| 2,012 | East West Bancorp, Inc. | 263,572 | ||||||
| 520 | Euronet Worldwide, Inc. (a) | 37,092 | ||||||
| 5,228 | F.N.B. Corp. | 98,809 | ||||||
| 1,915 | First Financial Bankshares, Inc. | 67,293 | ||||||
| 6,970 | First Horizon National Corp. | 178,711 | ||||||
| 4,407 | Flagstar Bank NA (b) | 62,668 | ||||||
| 1,192 | Hancock Whitney Corp. | 91,784 | ||||||
| 795 | International Bancshares Corp. | 60,849 | ||||||
| 5,050 | Old National Bancorp (b) | 134,532 | ||||||
| 2,209 | Pinnacle Financial Partners, Inc. | 232,453 | ||||||
| 1,730 | Prosperity Bancshares, Inc. | 129,525 | ||||||
| 1,434 | SouthState Bank Corp. | 150,699 | ||||||
| 641 | Texas Capital Bancshares, Inc. | 63,363 | ||||||
| 1,048 | UMB Financial Corp. | 152,725 | ||||||
| 2,019 | United Bankshares, Inc. (b) | 97,821 | ||||||
| 6,998 | Valley National Bancorp | 100,001 | ||||||
| 2,379 | Webster Financial Corp. | 183,706 | ||||||
| 1,503 | Western Alliance Bancorp | 120,976 | ||||||
| 990 | Wintrust Financial Corp. | 157,945 | ||||||
| 2,160 | Zions Bancorp | 150,552 | ||||||
|
|
|
| ||||||
| 3,114,913 | ||||||||
|
|
|
| ||||||
| Educational Services - 0.3% |
||||||||
| 591 | Duolingo, Inc. (a) | 79,673 | ||||||
| 49 | Graham Holdings Co. Class B | 58,973 | ||||||
| 385 | Grand Canyon Education, Inc. (a) | 55,956 | ||||||
|
|
|
| ||||||
| 194,602 | ||||||||
|
|
|
| ||||||
| Electrical Equipment, Appliance, and Component Manufacturing - 1.2% |
||||||||
| 442 | Acuity Brands, Inc. | 145,148 | ||||||
| 374 | IPG Photonics Corp. (a)(b) | 31,813 | ||||||
| 372 | Littelfuse, Inc. | 164,472 | ||||||
| 977 | Regal Rexnord Corp. | 200,510 | ||||||
| 1,039 | SharkNinja, Inc. ADR (a) | 168,079 | ||||||
| 567 | Synaptics, Inc. (a)(b) | 60,850 | ||||||
| 952 | Whirlpool Corp. (b) | 35,700 | ||||||
|
|
|
| ||||||
| 806,572 | ||||||||
|
|
|
| ||||||
| Fabricated Metal Product Manufacturing - 2.9% |
||||||||
| 3,143 | Axalta Coating Systems Ltd. ADR (a) | 112,551 | ||||||
| 1,345 | BWX Technologies, Inc. | 226,901 | ||||||
| 1,623 | Crown Holdings, Inc. | 191,271 | ||||||
| 543 | Curtiss-Wright Corp. | 393,132 | ||||||
| 3,247 | Mueller Industries, Inc. | 215,633 | ||||||
| 463 | RBC Bearings, Inc. (a) | 255,257 | ||||||
| 1,288 | Silgan Holdings, Inc. | 51,494 | ||||||
| 735 | SPX Technologies, Inc. (a) | 161,421 | ||||||
| 929 | Timken Co. | 127,784 | ||||||
| 286 | Valmont Industries, Inc. | 137,766 | ||||||
| 403 | Watts Water Technologies, Inc. | 139,353 | ||||||
|
|
|
| ||||||
| 2,012,563 | ||||||||
|
|
|
| ||||||
| Food and Beverage Retailers - 1.4% |
||||||||
| 5,229 | Albertsons Companies, Inc. Class A (b) | 60,552 | ||||||
| 2,328 | Celsius Holdings, Inc. (a)(b) | 68,001 | ||||||
| 1,874 | Dutch Bros, Inc. (a)(b) | 123,365 | ||||||
| 2,307 | Performance Food Group Co. (a) | 263,897 | ||||||
| 1,381 | Sprouts Farmers Market, Inc. (a) | 120,368 | ||||||
| 3,234 | US Foods Holding Corp. (a) | 325,308 | ||||||
|
|
|
| ||||||
| 961,491 | ||||||||
|
|
|
| ||||||
| Food Manufacturing - 0.3% |
||||||||
| 926 | Ingredion, Inc. | 92,100 | ||||||
| 629 | Pilgrim’s Pride Corp. | 17,210 | ||||||
| 586 | Post Holdings, Inc. (a)(b) | 53,566 | ||||||
| 298 | The Marzetti Company | 31,847 | ||||||
|
|
|
| ||||||
| 194,723 | ||||||||
|
|
|
| ||||||
| Food Services and Drinking Places - 0.8% |
||||||||
| 1,471 | Cava Group, Inc. (a) | 95,953 | ||||||
| 869 | Manhattan Associates, Inc. (a) | 166,292 | ||||||
| 965 | Texas Roadhouse, Inc. | 198,250 | ||||||
| 400 | Wingstop, Inc. | 51,796 | ||||||
|
|
|
| ||||||
| 512,291 | ||||||||
|
|
|
| ||||||
| Forestry and Logging - 0.1% |
||||||||
| 4,063 | Rayonier, Inc. (b) | 88,492 | ||||||
|
|
|
| ||||||
| Funds, Trusts, and Other Financial Vehicles - 1.6% |
||||||||
| 1,761 | Agree Realty Corp. (b) | 137,006 | ||||||
| 10,761 | Annaly Capital Management, Inc. | 244,490 | ||||||
| 3,806 | Carlyle Group, Inc. (b) | 175,152 | ||||||
| 788 | EastGroup Properties, Inc. | 164,700 | ||||||
| 1,947 | First Industrial Realty Trust, Inc. | 128,190 | ||||||
| 5,088 | Healthcare Realty Trust, Inc. | 106,899 | ||||||
| 1,342 | SEI Investments Co. | 138,199 | ||||||
|
|
|
| ||||||
| 1,094,636 | ||||||||
|
|
|
| ||||||
| Furniture, Home Furnishings, Electronics, and Appliance Retailers - 0.4% |
||||||||
| 1,588 | Floor & Decor Holdings, Inc. Class A (a)(b) | 91,421 | ||||||
| 6,058 | GameStop Corp. Class A (a)(b) | 131,580 | ||||||
| 227 | RH (a) | 37,573 | ||||||
|
|
|
| ||||||
| 260,574 | ||||||||
|
|
|
| ||||||
| General Merchandise Retailers - 1.4% |
||||||||
| 1,875 | BJ’s Wholesale Club Holdings, Inc. (a) | 183,337 | ||||||
| 923 | Burlington Stores, Inc. (a) | 340,107 | ||||||
| 867 | e.l.f. Beauty, Inc. (a)(b) | 71,865 | ||||||
| 566 | FirstCash Holdings, Inc. | 115,470 | ||||||
| 813 | Five Below, Inc. (a) | 176,527 | ||||||
| 3,873 | Macy’s, Inc. | 96,128 | ||||||
|
|
|
| ||||||
| 983,434 | ||||||||
|
|
|
| ||||||
| Health and Personal Care Retailers - 0.7% |
||||||||
| 1,965 | Doximity, Inc. Class A (a) | 41,088 | ||||||
| 2,390 | Envista Holdings Corp. (a) | 65,271 | ||||||
| 2,306 | Option Care Health, Inc. (a) | 53,107 | ||||||
| 578 | Penumbra, Inc. (a)(b) | 185,648 | ||||||
| 1,162 | Planet Fitness, Inc. Class A (a) | 64,967 | ||||||
| 3,895 | Sotera Health Co. (a) | 69,565 | ||||||
|
|
|
| ||||||
| 479,646 | ||||||||
|
|
|
| ||||||
| Heavy and Civil Engineering Construction - 0.7% |
||||||||
| 2,763 | Core & Main, Inc. Class A (a) | 121,489 | ||||||
| 1,862 | KBR, Inc. | 68,168 | ||||||
| 450 | Sterling Infrastructure, Inc. (a) | 268,546 | ||||||
|
|
|
| ||||||
| 458,203 | ||||||||
|
|
|
| ||||||
| Hospitals - 0.7% |
||||||||
| 1,456 | Encompass Health Corp. | 161,718 | ||||||
| 1,265 | Tenet Healthcare Corp. (a) | 322,297 | ||||||
|
|
|
| ||||||
| 484,015 | ||||||||
|
|
|
| ||||||
| Insurance Carriers and Related Activities - 3.5% |
||||||||
| 1,013 | American Financial Group, Inc. | 143,562 | ||||||
| 840 | Brighthouse Financial, Inc. (a) | 52,004 | ||||||
| 1,371 | CNO Financial Group, Inc. | 75,528 | ||||||
| 3,555 | Corebridge Financial, Inc. | 110,880 | ||||||
| 4,135 | Equitable Holdings, Inc. | 197,033 | ||||||
| 1,354 | Essent Group Ltd. ADR | 89,310 | ||||||
| 1,497 | First American Financial Corp. | 112,260 | ||||||
| 514 | Hanover Insurance Group, Inc. | 119,572 | ||||||
| 322 | Kinsale Capital Group, Inc. | 114,767 | ||||||
| 3,106 | MGIC Investment Corp. | 93,304 | ||||||
| 3,290 | Old Republic International Corp. | 142,161 | ||||||
| 458 | Primerica, Inc. | 146,542 | ||||||
| 962 | Reinsurance Group of America, Inc. | 227,850 | ||||||
| 626 | RenaissanceRe Holdings Ltd. ADR | 200,308 | ||||||
| 1,350 | RLI Corp. (b) | 82,674 | ||||||
| 1,673 | Ryan Specialty Holdings, Inc. (b) | 73,880 | ||||||
| 879 | Selective Insurance Group, Inc. | 83,320 | ||||||
| 2,159 | Unum Group | 185,912 | ||||||
| 1,331 | Voya Financial, Inc. | 132,341 | ||||||
|
|
|
| ||||||
| 2,383,208 | ||||||||
|
|
|
| ||||||
| Leather and Allied Product Manufacturing - 0.1% |
||||||||
| 730 | Crocs, Inc. (a) | 93,447 | ||||||
|
|
|
| ||||||
| Machinery Manufacturing - 3.8% |
||||||||
| 999 | AAON, Inc. (b) | 88,971 | ||||||
| 883 | AGCO Corp. (b) | 90,207 | ||||||
| 572 | Belden, Inc. | 70,957 | ||||||
| 954 | Brunswick Corp. | 75,366 | ||||||
| 721 | Crane Company | 153,905 | ||||||
| 726 | Crane NXT Co. (b) | 37,716 | ||||||
| 1,701 | Donaldson Co., Inc. | 160,302 | ||||||
| 541 | EnerSys | 100,653 | ||||||
| 841 | Esab Corp. (b) | 72,772 | ||||||
| 1,877 | Flowserve Corp. | 142,633 | ||||||
| 2,438 | Graco, Inc. | 193,528 | ||||||
| 1,313 | ITT, Inc. | 257,322 | ||||||
| 805 | Lincoln Electric Holdings, Inc. | 210,355 | ||||||
| 611 | Middleby Corp. (a) | 81,617 | ||||||
| 5,270 | NOV, Inc. | 102,396 | ||||||
| 915 | Oshkosh Corp. | 130,305 | ||||||
| 5,855 | TechnipFMC PLC ADR (United Kingdom) | 419,569 | ||||||
| 1,677 | Terex Corp. | 105,383 | ||||||
| 1,424 | Toro Co. (a) | 130,823 | ||||||
|
|
|
| ||||||
| 2,624,780 | ||||||||
|
|
|
| ||||||
| Management of Companies and Enterprises - 0.7% |
||||||||
| 12,929 | CNH Industrial NV ADR (United Kingdom) (b) | 132,522 | ||||||
| 922 | Cullen/Frost Bankers, Inc. (b) | 153,365 | ||||||
| 1,892 | Glacier Bancorp, Inc. | 93,257 | ||||||
| 2,751 | Home Bancshares, Inc. | 85,474 | ||||||
|
|
|
| ||||||
| 464,618 | ||||||||
|
|
|
| ||||||
| Merchant Wholesalers, Durable Goods - 2.9% |
||||||||
| 1,218 | Allison Transmission Holdings, Inc. | 139,510 | ||||||
| 543 | Applied Industrial Technologies, Inc. | 187,449 | ||||||
| 751 | Arrow Electronics, Inc. (a) | 162,644 | ||||||
| 1,205 | Avnet, Inc. | 107,052 | ||||||
| 2,240 | Entegris, Inc. | 266,672 | ||||||
| 1,752 | Fortune Brands Innovations, Inc. (b) | 86,303 | ||||||
| 1,107 | Hexcel Corp. | 113,966 | ||||||
| 2,402 | Jefferies Financial Group, Inc. | 131,149 | ||||||
| 672 | MSC Industrial Direct Co., Inc. | 82,925 | ||||||
| 1,098 | TD SYNNEX Corp. | 280,759 | ||||||
| 514 | Watsco, Inc. (b) | 158,980 | ||||||
| 715 | WESCO International, Inc. | 245,595 | ||||||
|
|
|
| ||||||
| 1,963,004 | ||||||||
|
|
|
| ||||||
| Merchant Wholesalers, Nondurable Goods - 0.3% |
||||||||
| 2,250 | HF Sinclair Corp. | 205,808 | ||||||
|
|
|
| ||||||
| Mining (except Oil and Gas) - 0.3% |
||||||||
| 15,192 | Coeur Mining, Inc. | 226,513 | ||||||
|
|
|
| ||||||
| Miscellaneous Manufacturing - 0.7% |
||||||||
| 2,942 | Dentsply Sirona, Inc. (b) | 39,335 | ||||||
| 1,664 | Globus Medical, Inc. Class A (a)(b) | 131,107 | ||||||
| 682 | Haemonetics Corp. (a) | 58,338 | ||||||
| 4,268 | Mattel, Inc. (a) | 64,404 | ||||||
| 533 | MSA Safety, Inc. | 101,414 | ||||||
| 1,113 | YETI Holdings, Inc. (a)(b) | 54,470 | ||||||
|
|
|
| ||||||
| 449,068 | ||||||||
|
|
|
| ||||||
| Motor Vehicle and Parts Dealers - 0.4% |
||||||||
| 369 | AutoNation, Inc. (a) | 78,375 | ||||||
| 247 | Murphy USA, Inc. | 150,117 | ||||||
| 271 | Penske Automotive Group, Inc. (b) | 58,891 | ||||||
|
|
|
| ||||||
| 287,383 | ||||||||
|
|
|
| ||||||
| Nonmetallic Mineral Product Manufacturing - 0.4% |
||||||||
| 461 | Eagle Materials, Inc. (b) | 94,477 | ||||||
| 1,182 | Owens Corning | 164,180 | ||||||
|
|
|
| ||||||
| 258,657 | ||||||||
|
|
|
| ||||||
| Nursing and Residential Care Facilities - 0.2% |
||||||||
| 851 | The Ensign Group, Inc. | 151,614 | ||||||
|
|
|
| ||||||
| Oil and Gas Extraction - 1.4% |
||||||||
| 4,323 | Antero Resources Corp. (a) | 156,233 | ||||||
| 827 | Chord Energy Corp. | 116,094 | ||||||
| 2,078 | CNX Resources Corp. (a)(b) | 74,392 | ||||||
| 1,714 | Matador Resources Co. | 85,512 | ||||||
| 1,979 | Murphy Oil Corp. | 78,646 | ||||||
| 922 | ONE Gas, Inc. | 71,593 | ||||||
| 3,461 | Range Resources Corp. (b) | 138,925 | ||||||
| 2,852 | Viper Energy, Inc. | 127,228 | ||||||
| 1,056 | Weatherford International PLC ADR (Ireland) | 92,706 | ||||||
|
|
|
| ||||||
| 941,329 | ||||||||
|
|
|
| ||||||
| Paper Manufacturing - 0.2% |
||||||||
| 4,345 | Graphic Packaging Holding Company | 46,622 | ||||||
| 1,452 | Sonoco Products Co. | 81,835 | ||||||
|
|
|
| ||||||
| 128,457 | ||||||||
|
|
|
| ||||||
| Performing Arts, Spectator Sports, and Related Industries - 0.1% |
||||||||
| 973 | Churchill Downs, Inc. | 82,024 | ||||||
|
|
|
| ||||||
| Personal and Laundry Services - 0.3% |
||||||||
| 2,027 | Service Corporation International | 174,707 | ||||||
|
|
|
| ||||||
| Petroleum and Coal Products Manufacturing - 0.4% |
||||||||
| 593 | Carlisle Cos., Inc. | 213,433 | ||||||
| 1,234 | PBF Energy, Inc. Class A | 89,193 | ||||||
|
|
|
| ||||||
| 302,626 | ||||||||
|
|
|
| ||||||
| Pipeline Transportation - 0.4% |
||||||||
| 1,498 | DT Midstream, Inc. | 206,724 | ||||||
| 1,463 | TXNM Energy, Inc. | 84,737 | ||||||
|
|
|
| ||||||
| 291,461 | ||||||||
|
|
|
| ||||||
| Plastics and Rubber Products Manufacturing - 0.4% |
||||||||
| 1,052 | Advanced Drainage Systems, Inc. | 145,681 | ||||||
| 937 | AptarGroup, Inc. | 125,521 | ||||||
|
|
|
| ||||||
| 271,202 | ||||||||
|
|
|
| ||||||
| Primary Metal Manufacturing - 2.1% |
||||||||
| 3,875 | Alcoa Corp. | 175,382 | ||||||
| 2,004 | Allegheny Technologies, Inc. (a) | 375,630 | ||||||
| 730 | Carpenter Technology Corp. | 379,352 | ||||||
| 1,629 | Commercial Metals Co. | 111,945 | ||||||
| 750 | Reliance, Inc. | 304,575 | ||||||
| 484 | Silicon Laboratories, Inc. (a) | 105,270 | ||||||
|
|
|
| ||||||
| 1,452,154 | ||||||||
|
|
|
| ||||||
| Printing and Related Support Activities - 0.4% |
||||||||
| 11,559 | Permian Resources Corp. | 246,322 | ||||||
|
|
|
| ||||||
| Professional, Scientific, and Technical Services - 3.7% |
||||||||
| 1,887 | AECOM | 136,600 | ||||||
| 5,662 | API Group Corp. (a) | 224,668 | ||||||
| 1,771 | Booz Allen Hamilton Holding Corp. | 123,474 | ||||||
| 325 | CACI International, Inc. Class A (a) | 161,769 | ||||||
| 1,994 | Cytokinetics, Inc. (a) | 153,797 | ||||||
| 1,195 | DigitalOcean Holdings, Inc. (a) | 140,412 | ||||||
| 3,691 | Exelixis, Inc. (a) | 195,734 | ||||||
| 712 | Exponent, Inc. | 47,597 | ||||||
| 2,051 | Fluor Corp. (a) | 102,899 | ||||||
| 434 | FTI Consulting, Inc. (a) | 69,171 | ||||||
| 2,315 | Genpact Ltd. ADR | 81,419 | ||||||
| 1,862 | H&R Block, Inc. | 81,984 | ||||||
| 771 | Maximus, Inc. | 46,453 | ||||||
| 3,895 | Nutanix, Inc. (a) | 229,844 | ||||||
| 785 | Parsons Corp. (a)(b) | 34,705 | ||||||
| 636 | Paylocity Holding Corp. (a) | 87,701 | ||||||
| 1,325 | Pegasystems, Inc. | 40,479 | ||||||
| 633 | Science Applications International Corp. (b) | 74,143 | ||||||
| 604 | Simpson Manufacturing Co., Inc. | 113,395 | ||||||
| 2,332 | Solstice Advanced Materials, Inc. | 140,316 | ||||||
| 3,812 | Tetra Tech, Inc. | 126,406 | ||||||
| 1,143 | UL Solutions, Inc. | 104,744 | ||||||
|
|
|
| ||||||
| 2,517,710 | ||||||||
|
|
|
| ||||||
| Publishing Industries - 3.7% |
||||||||
| 353 | Appfolio, Inc. Class A (a) | 63,607 | ||||||
| 2,189 | Bentley Systems, Inc. (b) | 77,578 | ||||||
| 1,302 | Bill.com Holdings, Inc. (a)(b) | 58,759 | ||||||
| 606 | CommVault Systems, Inc. (a) | 71,387 | ||||||
| 2,853 | DocuSign, Inc. (a) | 156,430 | ||||||
| 2,200 | Dropbox, Inc. (a) | 71,632 | ||||||
| 4,327 | Dynatrace, Inc. (a) | 191,773 | ||||||
| 1,243 | Guidewire Software, Inc. (a) | 188,861 | ||||||
| 2,180 | Nextpower, Inc. Class A (a) | 195,917 | ||||||
| 2,462 | Okta, Inc. (a) | 349,432 | ||||||
| 518 | Qualys, Inc. (a) | 74,980 | ||||||
| 862 | Shift4 Payments, Inc. (a)(b) | 45,686 | ||||||
| 868 | Spire, Inc. | 69,318 | ||||||
| 2,365 | The New York Times Co. Class A (b) | 177,115 | ||||||
| 6,896 | Toast, Inc. (a)(b) | 222,534 | ||||||
| 2,229 | Twilio, Inc. (a) | 439,893 | ||||||
| 6,272 | UiPath, Inc. (a)(b) | 80,031 | ||||||
|
|
|
| ||||||
| 2,534,933 | ||||||||
|
|
|
| ||||||
| Real Estate - 4.3% |
||||||||
| 2,831 | American Healthcare REIT, Inc. (b) | 157,404 | ||||||
| 4,652 | American Homes 4 Rent Class A | 155,470 | ||||||
| 4,506 | Brixmor Property Group, Inc. | 141,984 | ||||||
| 3,469 | CareTrust REIT, Inc. (b) | 145,490 | ||||||
| 1,658 | Corporate Office Properties Trust (b) | 62,938 | ||||||
| 2,416 | Cousins Properties, Inc. | 76,225 | ||||||
| 1,123 | EPR Properties | 69,704 | ||||||
| 2,848 | Equity Lifestyle Properties, Inc. | 185,319 | ||||||
| 4,159 | Gaming & Leisure Properties, Inc. | 186,282 | ||||||
| 3,455 | Independence Realty Trust, Inc. | 57,457 | ||||||
| 681 | Jones Lang LaSalle, Inc. (a) | 241,775 | ||||||
| 1,571 | Kilroy Realty Corp. | 60,986 | ||||||
| 2,982 | Kite Realty Group Trust (b) | 85,345 | ||||||
| 1,279 | Lamar Advertising Co. Class A | 204,589 | ||||||
| 2,794 | National Retail Properties, Inc. (b) | 132,771 | ||||||
| 4,373 | Omega Healthcare Investors, Inc. | 221,405 | ||||||
| 3,289 | Rexford Industrial Realty, Inc. | 124,225 | ||||||
| 3,704 | Sabra Health Care REIT, Inc. (b) | 78,414 | ||||||
| 2,808 | STAG Industrial, Inc. | 107,434 | ||||||
| 5,118 | Starwood Property Trust, Inc. (b) | 81,786 | ||||||
| 2,321 | Vornado Realty Trust | 91,424 | ||||||
| 3,271 | WP Carey, Inc. (b) | 240,745 | ||||||
|
|
|
| ||||||
| 2,909,172 | ||||||||
|
|
|
| ||||||
| Religious, Grantmaking, Civic, Professional, and Similar Organizations - 0.2% |
||||||||
| 1,240 | HealthEquity, Inc. (a) | 124,756 | ||||||
|
|
|
| ||||||
| Rental and Leasing Services - 0.4% |
||||||||
| 249 | Avis Budget Group, Inc. (a)(b) | 34,222 | ||||||
| 521 | GATX Corp. | 93,191 | ||||||
| 568 | Ryder System, Inc. | 145,647 | ||||||
|
|
|
| ||||||
| 273,060 | ||||||||
|
|
|
| ||||||
| Repair and Maintenance - 0.2% |
||||||||
| 2,782 | StandardAero, Inc. (a)(b) | 81,540 | ||||||
| 1,873 | Valvoline, Inc. (a) | 71,942 | ||||||
|
|
|
| ||||||
| 153,482 | ||||||||
|
|
|
| ||||||
| Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 2.5% |
||||||||
| 388 | Affiliated Managers Group, Inc. | 142,291 | ||||||
| 3,861 | Aramark Corp. | 219,961 | ||||||
| 195 | Chemed Corporation | 103,789 | ||||||
| 568 | Evercore, Inc. Class A | 182,078 | ||||||
| 1,063 | Federated Hermes, Inc. Class B (b) | 63,737 | ||||||
| 3,715 | Fidelity National Financial, inc. | 191,657 | ||||||
| 600 | Hamilton Lane, Inc. Class A | 53,346 | ||||||
| 797 | Houlihan Lokey, Inc. | 100,016 | ||||||
| 324 | Morningstar, Inc. | 62,393 | ||||||
| 2,375 | nVent Electric PLC ADR (Ireland) | 365,346 | ||||||
| 2,770 | SLM Corp. (b) | 72,006 | ||||||
| 2,253 | Stifel Financial Corp. | 186,796 | ||||||
|
|
|
| ||||||
| 1,743,416 | ||||||||
|
|
|
| ||||||
| Specialty Trade Contractors - 0.1% |
||||||||
| 129 | IES Holdings, Inc. (a)(b) | 96,046 | ||||||
|
|
|
| ||||||
| Sporting Goods, Hobby, Musical Instrument, Book, and Miscellaneous Retailers - 0.5% |
||||||||
| 3,527 | Chewy, Inc. Class A (a) | 79,710 | ||||||
| 968 | Dick’s Sporting Goods, Inc. | 189,641 | ||||||
| 891 | Ollie’s Bargain Outlet Holdings, Inc. (a) | 65,462 | ||||||
|
|
|
| ||||||
| 334,813 | ||||||||
|
|
|
| ||||||
| Support Activities for Mining - 1.4% |
||||||||
| 8,377 | Cleveland-Cliffs, Inc. (a) | 96,503 | ||||||
| 9,850 | Hecla Mining Co. | 139,082 | ||||||
| 1,987 | MP Materials Corp. (a)(b) | 82,202 | ||||||
| 4,045 | Ovintiv, Inc. | 252,651 | ||||||
| 1,196 | Royal Gold, Inc. | 237,227 | ||||||
| 946 | Southwest Gas Holdings, Inc. | 84,572 | ||||||
| 945 | Valaris Ltd. ADR (a) | 74,835 | ||||||
|
|
|
| ||||||
| 967,072 | ||||||||
|
|
|
| ||||||
| Support Activities for Transportation - 0.7% |
||||||||
| 1,690 | GXO Logistics, Inc. (a) | 84,771 | ||||||
| 605 | The Brink’s Co. (b) | 71,662 | ||||||
| 1,724 | XPO, Inc. (a) | 346,472 | ||||||
|
|
|
| ||||||
| 502,905 | ||||||||
|
|
|
| ||||||
| Textile Product Mills - 0.3% |
||||||||
| 3,089 | Somnigroup International, Inc. | 201,804 | ||||||
|
|
|
| ||||||
| Transportation Equipment Manufacturing - 1.7% |
||||||||
| 474 | AeroVironment, Inc. (a)(b) | 70,801 | ||||||
| 1,012 | Autoliv, Inc. (b) | 124,648 | ||||||
| 3,012 | BorgWarner, Inc. | 191,985 | ||||||
| 3,127 | Gentex Corp. | 73,047 | ||||||
| 1,546 | Harley-Davidson, Inc. (b) | 37,939 | ||||||
| 2,754 | Kratos Defense & Security Solutions, Inc. (a) | 128,336 | ||||||
| 736 | Lear Corp. | 96,151 | ||||||
| 794 | Polaris Industries, Inc. | 53,262 | ||||||
| 772 | Thor Industries, Inc. (b) | 57,877 | ||||||
| 392 | Visteon Corp. | 40,980 | ||||||
| 875 | Woodward, Inc. | 315,656 | ||||||
|
|
|
| ||||||
| 1,190,682 | ||||||||
|
|
|
| ||||||
| Truck Transportation - 0.8% |
||||||||
| 2,386 | Knight-Swift Transportation Holdings, Inc. Class A | 165,898 | ||||||
| 335 | Lithia Motors, Inc. Class A | 129,116 | ||||||
| 2,416 | Maplebear, Inc. (a) | 107,754 | ||||||
| 391 | Saia, Inc. (a) | 135,923 | ||||||
|
|
|
| ||||||
| 538,691 | ||||||||
|
|
|
| ||||||
| Utilities - 2.0% |
||||||||
| 4,882 | Antero Midstream Corporation | 107,257 | ||||||
| 1,118 | Black Hills Corp. | 79,613 | ||||||
| 4,165 | Essential Utilities, Inc. | 165,975 | ||||||
| 813 | IDACORP, Inc. | 116,186 | ||||||
| 1,396 | National Fuel Gas Co. (b) | 114,905 | ||||||
| 1,482 | New Jersey Resources Corp. | 85,793 | ||||||
| 903 | NorthWestern Corp. | 62,072 | ||||||
| 3,031 | OGE Energy Corp. | 143,518 | ||||||
| 902 | Ormat Technologies, Inc. (b) | 88,017 | ||||||
| 1,700 | Portland General Electric Co. | 83,861 | ||||||
| 666 | Talen Energy Corp. (a) | 222,511 | ||||||
| 3,149 | UGI Corp. | 113,742 | ||||||
|
|
|
| ||||||
| 1,383,450 | ||||||||
|
|
|
| ||||||
| Warehousing and Storage - 0.3% |
||||||||
| 3,325 | CubeSmart | 137,855 | ||||||
| 498 | Landstar System, Inc. | 87,035 | ||||||
|
|
|
| ||||||
| 224,890 | ||||||||
|
|
|
| ||||||
| Waste Management and Remediation Services - 0.5% |
||||||||
| 729 | Clean Harbors, Inc. (a) | 228,089 | ||||||
| 2,334 | Darling Ingredients, Inc. (a) | 141,534 | ||||||
|
|
|
| ||||||
| 369,623 | ||||||||
|
|
|
| ||||||
| Water Transportation - 0.2% |
||||||||
| 785 | Kirby Corp. (a) | 102,945 | ||||||
|
|
|
| ||||||
| Wood Product Manufacturing - 0.3% |
||||||||
| 364 | Greif, Inc. Class A | 31,504 | ||||||
| 933 | Louisiana-Pacific Corp. | 67,577 | ||||||
| 1,526 | Trex Company, Inc. (a) | 66,167 | ||||||
| 829 | UFP Industries, Inc. | 71,908 | ||||||
|
|
|
| ||||||
| 237,156 | ||||||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $41,564,967) | $ | 52,267,408 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 24.4% |
||||||||
| Money Market Funds - 24.4% |
||||||||
| 4,102,453 | Dreyfus Government Cash Management Institutional Shares, 3.56% (c)(d) | $ | 4,102,453 | |||||
| 12,610,855 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (c) | 12,610,855 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $16,713,308) | $ | 16,713,308 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $58,278,275) - 100.6% (e) | $ | 68,980,716 | ||||||
| Liabilities in Excess of Other Assets - (0.6)% | (344,379) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 68,636,337 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | A portion of this security represents a security on loan. |
| (c) | Represents annualized seven-day yield at July 31, 2026. |
| (d) | All or a portion of this security represents an investment of securities lending collateral. |
| (e) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $45,164,447. |
ADR - American Depository Receipt
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation |
||||||||||||||
| Total return of S&P MidCap 400® Index |
SOFR + 0.5000% | Bank of America Merrill Lynch | 12/11/2026 | 12,877 | $ | 44,756,486 | $ | 3,000,788 | ||||||||||||
| Total return of S&P MidCap 400® Index |
SOFR + 0.7500% | J.P. Morgan | 12/16/2026 | 9,667 | 32,360,657 | 3,391,759 | ||||||||||||||
| Total return of S&P MidCap 400® Index |
SOFR + 0.6500% | UBS Securities LLC | 12/17/2026 | 14,631 | 48,486,814 | 5,647,041 | ||||||||||||||
| Total return of S&P MidCap 400® Index |
SOFR + 0.8000% | Citibank N.A. | 12/22/2026 | 3,702 | 12,867,737 | 880,118 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 138,471,694 | $ | 12,919,706 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily MSCI Emerging Markets Bear 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 110.2% |
||||||||
| Money Market Funds - 110.2% |
||||||||
| 9,731,109 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 9,731,109 | |||||
| 11,416,444 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 11,416,444 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $21,147,553) (b) | $ | 21,147,553 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $21,147,553) - 110.2% | $ | 21,147,553 | ||||||
| Liabilities in Excess of Other Assets - (10.2)% | (1,950,649) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 19,196,904 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $14,228,540. |
| Short Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| SOFR + 0.2700% |
Total return of iShares MSCI Emerging Markets ETF | J.P. Morgan | 12/15/2026 | 500,000 | $ | 29,636,239 | $ | (2,320,778) | ||||||||||||
| SOFR + 0.2300% |
Total return of iShares MSCI Emerging Markets ETF | UBS Securities LLC | 12/17/2026 | 276,835 | 18,747,307 | 1,057,289 | ||||||||||||||
| SOFR + 0.5300% |
Total return of iShares MSCI Emerging Markets ETF | Citibank N.A. | 12/22/2026 | 121,616 | 8,129,913 | 367,765 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 56,513,459 | $ | (895,724) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily MSCI Emerging Markets Bull 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| INVESTMENT COMPANIES - 8.9% |
||||||||
| 208,078 | iShares MSCI Emerging Markets ETF (a) | $ | 13,335,719 | |||||
|
|
|
| ||||||
| TOTAL INVESTMENT COMPANIES (Cost $13,590,198) | $ | 13,335,719 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 94.3% |
||||||||
| Money Market Funds - 94.3% |
||||||||
| 66,018,763 | Dreyfus Government Cash Management Institutional Shares, 3.56% (b) | $ | 66,018,763 | |||||
| 19,080,010 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (b) | 19,080,010 | ||||||
| 56,715,919 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (b) | 56,715,919 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $141,814,692) | $ | 141,814,692 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $155,404,890) - 103.2% (c) | $ | 155,150,411 | ||||||
| Liabilities in Excess of Other Assets - (3.2)% | (4,804,369) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 150,346,042 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Shareholders may obtain the financial statements of these investment companies at www.sec.gov. |
| (b) | Represents annualized seven-day yield at July 31, 2026. |
| (c) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $97,106,247. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date |
Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| Total return of iShares MSCI Emerging Markets ETF |
SOFR + 0.9500% | BNP Paribas | 12/4/2026 | 700,000 | $ | 42,704,539 | $ | 1,556,948 | ||||||||||||
| Total return of iShares MSCI Emerging Markets ETF |
SOFR + 0.5000% | Bank of America Merrill Lynch | 12/11/2026 | 1,700,000 | 115,345,299 | (6,921,792) | ||||||||||||||
| Total return of iShares MSCI Emerging Markets ETF |
SOFR + 0.4900% | J.P. Morgan | 12/16/2026 | 1,144,135 | 62,585,786 | 10,260,661 | ||||||||||||||
| Total return of iShares MSCI Emerging Markets ETF |
SOFR + 0.8500% | UBS Securities LLC | 12/17/2026 | 983,252 | 62,911,419 | (248,551) | ||||||||||||||
| Total return of iShares MSCI Emerging Markets ETF |
SOFR + 0.7900% | Citibank N.A. | 12/22/2026 | 801,191 | 49,153,211 | 2,167,425 | ||||||||||||||
| Total return of iShares MSCI Emerging Markets ETF |
SOFR + 0.8000% | Barclays | 12/22/2026 | 1,500,000 | 81,015,000 | 13,438,159 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 413,715,254 | $ | 20,252,850 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily MSCI Mexico Bull 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| INVESTMENT COMPANIES - 44.8% |
||||||||
| 115,721 | iShares MSCI Mexico ETF (a)(b) | $ | 8,888,530 | |||||
|
|
|
| ||||||
| TOTAL INVESTMENT COMPANIES (Cost $8,328,059) | $ | 8,888,530 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 75.4% |
||||||||
| Money Market Funds - 75.4% |
||||||||
| 9,218,301 | Dreyfus Government Cash Management Institutional Shares, 3.56% (c)(d) | $ | 9,218,301 | |||||
| 2,041,717 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (c) | 2,041,717 | ||||||
| 610,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (c) | 610,000 | ||||||
| 3,076,110 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (c) | 3,076,110 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $14,946,128) | $ | 14,946,128 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $23,274,187) - 120.2% (e) | $ | 23,834,658 | ||||||
| Liabilities in Excess of Other Assets - (20.2)% | (4,007,742) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 19,826,916 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Shareholders may obtain the financial statements of these investment companies at www.sec.gov. |
| (b) | A portion of this security represents a security on loan. |
| (c) | Represents annualized seven-day yield at July 31, 2026. |
| (d) | All or a portion of this security represents an investment of securities lending collateral. |
| (e) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $11,956,937. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation |
||||||||||||||
| Total return of iShares MSCI Mexico ETF |
SOFR + 0.7500% | Goldman Sachs | 12/10/2026 | 143,446 | $ | 10,047,720 | $ | 1,015,193 | ||||||||||||
| Total return of iShares MSCI Mexico ETF |
SOFR + (0.7000)% | J.P. Morgan | 12/16/2026 | 100,000 | 7,048,000 | 748,176 | ||||||||||||||
| Total return of iShares MSCI Mexico ETF |
SOFR + 0.7500% | UBS Securities LLC | 12/17/2026 | 178,655 | 12,050,280 | 1,545,932 | ||||||||||||||
| Total return of iShares MSCI Mexico ETF |
SOFR + 0.7500% | Citibank N.A. | 12/22/2026 | 188,875 | 13,990,366 | 509,459 | ||||||||||||||
| Total return of iShares MSCI Mexico ETF |
SOFR + 0.7500% | Barclays | 12/22/2026 | 47,652 | 3,457,754 | 173,047 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 46,594,120 | $ | 3,991,807 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily MSCI South Korea Bull 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| INVESTMENT COMPANIES - 57.5% |
||||||||
| 4,602,141 | iShares MSCI South Korea ETF (a) | $ | 722,996,351 | |||||
|
|
|
| ||||||
| TOTAL INVESTMENT COMPANIES (Cost $711,992,803) | $ | 722,996,351 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 65.6% |
||||||||
| Money Market Funds - 65.6% |
||||||||
| 522,997,902 | Dreyfus Government Cash Management Institutional Shares, 3.56% (b) | $ | 522,997,902 | |||||
| 15,080,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (b) | 15,080,000 | ||||||
| 285,580,883 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (b) | 285,580,883 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $823,658,785) | $ | 823,658,785 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $1,535,651,588) - 123.1% (c) | $ | 1,546,655,136 | ||||||
| Liabilities in Excess of Other Assets - (23.1)% | (290,171,140) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 1,256,483,996 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Shareholders may obtain the financial statements of these investment companies at www.sec.gov. |
| (b) | Represents annualized seven-day yield at July 31, 2026. |
| (c) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $1,248,442,163. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| Total return of iShares MSCI South Korea ETF |
SOFR + 4.5000% | BNP Paribas | 12/4/2026 | 2,397,656 | $ | 507,005,506 | $ | (135,597,908) | ||||||||||||
| Total return of iShares MSCI South Korea ETF |
SOFR + 12.5000% | Bank of America Merrill Lynch | 12/11/2026 | 3,732,684 | 621,537,813 | (38,904,458) | ||||||||||||||
| Total return of iShares MSCI South Korea ETF |
SOFR + 9.0000% | Nomura | 12/11/2026 | 1,600,000 | 305,841,869 | (58,089,342) | ||||||||||||||
| Total return of iShares MSCI South Korea ETF |
SOFR + 6.0000% | J.P. Morgan | 12/16/2026 | 2,434,798 | 257,809,005 | 119,842,311 | ||||||||||||||
| Total return of iShares MSCI South Korea ETF |
SOFR + 6.0000% | UBS Securities LLC | 12/17/2026 | 2,236,176 | 327,024,191 | 20,306,952 | ||||||||||||||
| Total return of iShares MSCI South Korea ETF |
SOFR + 14.5000% | Citibank N.A. | 12/22/2026 | 3,708,464 | 620,802,949 | (41,652,119) | ||||||||||||||
| Total return of iShares MSCI South Korea ETF |
SOFR + 12.0000% | Barclays | 12/22/2026 | 3,280,878 | 542,977,727 | (28,798,612) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 3,182,999,060 | $ | (162,893,176) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Pharmaceutical & Medical Bull 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 75.0% |
||||||||
| Administrative and Support Services - 1.2% |
||||||||
| 4,308 | Royalty Pharma PLC ADR (United Kingdom) | $ | 251,717 | |||||
|
|
|
| ||||||
| Ambulatory Health Care Services - 2.8% |
||||||||
| 953 | Axsome Therapeutics, Inc. (a) | 207,745 | ||||||
| 29,016 | Fulcrum Therapeutics, Inc. (a) | 103,877 | ||||||
| 14,896 | Viatris, Inc. | 261,574 | ||||||
|
|
|
| ||||||
| 573,196 | ||||||||
|
|
|
| ||||||
| Chemical Manufacturing - 49.0% |
||||||||
| 26,010 | Aclaris Therapeutics, Inc. (a) | 135,252 | ||||||
| 15,331 | Amneal Pharmaceuticals, Inc. (a) | 280,864 | ||||||
| 9,545 | Amphastar Pharmaceuticals, Inc. (a) | 190,327 | ||||||
| 17,451 | Amylxy Pharmaceuticals, Inc. (a) | 354,430 | ||||||
| 2,870 | ANI Pharmaceuticals, Inc. (a) | 227,419 | ||||||
| 28,299 | Aquestive Therapeutics, Inc. (a)(b) | 104,565 | ||||||
| 4,226 | Bristol-Myers Squibb Co. | 276,000 | ||||||
| 6,750 | Collegium Pharmaceutical, Inc. (a)(b) | 238,882 | ||||||
| 3,007 | Corcept Therapeutics, Inc. (a) | 344,271 | ||||||
| 19,753 | CorMedix, Inc. (a)(b) | 148,740 | ||||||
| 6,844 | Crinetics Pharmaceuticals, Inc. (a) | 571,611 | ||||||
| 7,137 | Edgewise Therapeutics, Inc. (a) | 274,275 | ||||||
| 10,270 | Elanco Animal Health, Inc. (a) | 270,820 | ||||||
| 206 | Eli Lilly & Co. | 236,661 | ||||||
| 6,348 | Enliven Therapeutics, Inc. (a) | 347,934 | ||||||
| 5,548 | Eton Pharmaceuticals, Inc. (a) | 257,538 | ||||||
| 11,690 | Evolus, Inc. (a) | 68,270 | ||||||
| 6,619 | Harmony Biosciences Holdings, Inc. (a) | 233,254 | ||||||
| 6,167 | Indivior Pharmaceuticals, Inc. (a) | 246,742 | ||||||
| 10,214 | Innoviva, Inc. (a) | 214,188 | ||||||
| 1,023 | Jazz Pharmaceuticals PLC ADR (Ireland) (a) | 258,676 | ||||||
| 3,779 | LB Pharmaceuticals, Inc. (a) | 151,462 | ||||||
| 40,310 | Lexicon Pharmaceuticals, Inc. (a) | 93,116 | ||||||
| 947 | Ligand Pharmaceuticals, Inc. (a)(b) | 272,300 | ||||||
| 1,972 | Merck & Co., Inc. | 256,754 | ||||||
| 4,138 | Nektar Therapeutics (a) | 292,432 | ||||||
| 26,875 | Ocular Therapeutix, Inc. (a)(b) | 219,569 | ||||||
| 17,557 | Organon & Co. | 237,897 | ||||||
| 10,029 | Pacira BioSciences, Inc. (a) | 264,866 | ||||||
| 21,029 | Perrigo Co. PLC ADR (Ireland) | 212,603 | ||||||
| 9,176 | Pfizer, Inc. | 229,492 | ||||||
| 15,083 | Phathom Pharmaceuticals, Inc. (a) | 131,976 | ||||||
| 6,294 | Phibro Animal Health Corp. | 228,661 | ||||||
| 4,781 | Prestige Consumer Healthcare, Inc. (a)(b) | 240,102 | ||||||
| 5,313 | Rapport Therapeutics, Inc. (a) | 217,727 | ||||||
| 23,536 | Relmada Therapeutics, Inc. (a)(b) | 124,976 | ||||||
| 5,209 | Supernus Pharmaceuticals, Inc. (a) | 232,478 | ||||||
| 3,832 | Tarsus Pharmaceuticals, Inc. (a) | 226,241 | ||||||
| 8,663 | Theravance Biopharma, Inc. ADR (a)(b) | 146,058 | ||||||
| 2,526 | VeraDermics, Inc. (a)(b) | 265,230 | ||||||
| 41,500 | Wave Life Sciences Ltd. ADR (Singapore) (a) | 228,665 | ||||||
| 27,065 | Xeris Biopharma Holdings, Inc. (a) | 218,685 | ||||||
| 13,272 | Zevra Therapeutics, Inc. (a) | 126,217 | ||||||
| 2,889 | Zoetis, Inc. | 223,291 | ||||||
|
|
|
| ||||||
| 10,121,517 | ||||||||
|
|
|
| ||||||
| Management of Companies and Enterprises - 2.2% |
||||||||
| 62,140 | AtaiBeckley, Inc. (a)(b) | 446,165 | ||||||
|
|
|
| ||||||
| Miscellaneous Manufacturing - 2.3% |
||||||||
| 19,051 | EyePoint, Inc. (a) | 233,375 | ||||||
| 985 | Johnson & Johnson | 252,505 | ||||||
|
|
|
| ||||||
| 485,880 | ||||||||
|
|
|
| ||||||
| Professional, Scientific, and Technical Services - 13.8% |
||||||||
| 6,833 | Alto Neuroscience, Inc. (a)(b) | 184,969 | ||||||
| 11,709 | Alumis, Inc. (a) | 330,779 | ||||||
| 23,099 | Arvinas, Inc. (a) | 185,485 | ||||||
| 9,418 | BioAge Labs, Inc. (a) | 85,139 | ||||||
| 6,543 | Harrow, Inc. (a)(b) | 253,672 | ||||||
| 3,600 | Liquidia Corp. (a) | 302,796 | ||||||
| 9,551 | Maze Therapeutics, Inc. (a) | 257,113 | ||||||
| 7,580 | MBX Biosciences, Inc. (a) | 499,749 | ||||||
| 23,028 | Omeros Corp. (a)(b) | 272,651 | ||||||
| 4,553 | Septerna, Inc. (a) | 156,851 | ||||||
| 17,529 | Trevi Therapeutics, Inc. (a) | 319,904 | ||||||
|
|
|
| ||||||
| 2,849,108 | ||||||||
|
|
|
| ||||||
| Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 1.6% |
||||||||
| 51,286 | Nuvation Bio, Inc. (a)(b) | 324,640 | ||||||
|
|
|
| ||||||
| Support Activities for Mining - 2.1% |
||||||||
| 10,109 | DefiniumTherapeutics, Inc. ADR (Canada) (a) | 439,944 | ||||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $13,617,191) | $ | 15,492,167 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 32.5% |
||||||||
| Money Market Funds - 32.5% |
||||||||
| 1,680,337 | Dreyfus Government Cash Management Institutional Shares, 3.56% (c)(d) | $ | 1,680,337 | |||||
| 420,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (c) | 420,000 | ||||||
| 4,616,827 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (c) | 4,616,827 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $6,717,164) | $ | 6,717,164 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $20,334,355) - 107.5% (e) | $ | 22,209,331 | ||||||
| Liabilities in Excess of Other Assets - (7.5)% | (1,558,225) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 20,651,106 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | A portion of this security represents a security on loan. |
| (c) | Represents annualized seven-day yield at July 31, 2026. |
| (d) | All or a portion of this security represents an investment of securities lending collateral. |
| (e) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $14,943,857. |
ADR - American Depository Receipt
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
|
Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
|
Total return of S&P Pharmaceuticals Select Industry Index |
SOFR + 0.7000% | UBS Securities LLC | 12/17/2026 | 1,177 | $ | 7,453,291 | $ | 1,529,401 | ||||||||||||
|
Total return of S&P Pharmaceuticals Select Industry Index |
SOFR + 0.8500% | Citibank N.A. | 12/22/2026 | 2,354 | 14,709,762 | 3,377,613 | ||||||||||||||
|
Total return of S&P Pharmaceuticals Select Industry Index |
SOFR + 0.7000% | Barclays | 12/22/2026 | 444 | 3,318,035 | 124,278 | ||||||||||||||
|
Total return of S&P Pharmaceuticals Select Industry Index |
SOFR + 1.0000% | J.P. Morgan | 8/9/2027 | 2,000 | 15,979,645 | (470,800) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 41,460,733 | $ | 4,560,492 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Real Estate Bear 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 118.4% |
||||||||
| Money Market Funds - 118.4% |
||||||||
| 10,115,562 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 10,115,562 | |||||
| 20,217,771 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 20,217,771 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $30,333,333) (b) | $ | 30,333,333 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $30,333,333) - 118.4% | $ | 30,333,333 | ||||||
| Liabilities in Excess of Other Assets - (18.4)% | (4,706,861) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 25,626,472 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $20,806,545. |
| Short Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| SOFR + 0.5500% |
Total return of Real Estate Select Sector Index | Bank of America Merrill Lynch | 12/11/2026 | 52,468 | $ | 11,664,562 | $ | 61,879 | ||||||||||||
| SOFR + 0.5500% |
Total return of Real Estate Select Sector Index | J.P. Morgan | 12/15/2026 | 279,980 | 56,905,971 | (4,841,529) | ||||||||||||||
| SOFR + 0.1000% |
Total return of Real Estate Select Sector Index | UBS Securities LLC | 12/17/2026 | 14,955 | 3,258,491 | (43,941) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 71,829,024 | $ | (4,823,591) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Real Estate Bull 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 70.3% |
||||||||
| Accommodation - 1.2% |
||||||||
| 20,441 | Host Hotels & Resorts, Inc. | $ | 513,682 | |||||
|
|
|
| ||||||
| Administrative and Support Services - 2.6% |
||||||||
| 9,548 | Iron Mountain, Inc. | 1,167,912 | ||||||
|
|
|
| ||||||
| Professional, Scientific, and Technical Services - 2.2% |
||||||||
| 6,780 | Extra Space Storage, Inc. | 1,003,711 | ||||||
|
|
|
| ||||||
| Real Estate - 57.4% |
||||||||
| 5,034 | Alexandria Real Estate Equities, Inc. | 258,999 | ||||||
| 9,917 | American Tower Corp. | 1,719,211 | ||||||
| 4,458 | AvalonBay Communities, Inc. | 827,449 | ||||||
| 4,760 | BXP, Inc. | 333,771 | ||||||
| 3,226 | Camden Property Trust | 357,473 | ||||||
| 9,397 | CBRE Group, Inc. Class A (a) | 1,379,574 | ||||||
| 14,007 | Crown Castle, Inc. | 1,068,734 | ||||||
| 8,230 | Digital Realty Trust, Inc. | 1,551,520 | ||||||
| 10,942 | Equity Residential | 727,096 | ||||||
| 2,062 | Essex Property Trust, Inc. | 585,897 | ||||||
| 2,523 | Federal Realty Investment Trust | 313,079 | ||||||
| 22,125 | Healthpeak Properties, Inc. | 482,989 | ||||||
| 17,539 | Invitation Homes, Inc. | 521,259 | ||||||
| 21,643 | Kimco Realty Corp. | 551,464 | ||||||
| 3,735 | Mid-America Apartment Communities, Inc. | 494,290 | ||||||
| 19,845 | Prologis, Inc. | 2,869,785 | ||||||
| 4,631 | Public Storage | 1,501,231 | ||||||
| 22,751 | Realty Income Corp. | 1,453,106 | ||||||
| 5,288 | Regency Centers Corp. | 424,574 | ||||||
| 6,903 | Simon Property Group, Inc. | 1,583,341 | ||||||
| 9,489 | UDR, Inc. | 362,100 | ||||||
| 15,603 | Ventas, Inc. | 1,459,037 | ||||||
| 35,073 | VICI Properties, Inc. | 924,174 | ||||||
| 15,026 | Welltower, Inc. | 3,522,695 | ||||||
| 23,141 | Weyerhaeuser Co. | 579,219 | ||||||
|
|
|
| ||||||
| 25,852,067 | ||||||||
|
|
|
| ||||||
| Telecommunications - 6.1% |
||||||||
| 2,100 | Equinix, Inc. | 2,140,488 | ||||||
| 3,404 | SBA Communications Corp. | 616,056 | ||||||
|
|
|
| ||||||
| 2,756,544 | ||||||||
|
|
|
| ||||||
| Web Search Portals, Libraries, Archives, and Other Information Services - 0.8% |
||||||||
| 13,105 | CoStar Group, Inc. (a) | 376,900 | ||||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $31,064,285) | $ | 31,670,816 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 31.3% |
||||||||
| Money Market Funds - 31.3% |
||||||||
| 10,162,067 | Dreyfus Government Cash Management Institutional Shares, 3.56% (b) | $ | 10,162,067 | |||||
| 3,954,085 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (b) | 3,954,085 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $14,116,152) | $ | 14,116,152 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $45,180,437) - 101.6% (c) | $ | 45,786,968 | ||||||
| Liabilities in Excess of Other Assets - (1.6)% | (755,105) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 45,031,863 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | Represents annualized seven-day yield at July 31, 2026. |
| (c) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $35,248,997. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| Total return of Real Estate Select Sector Index |
SOFR + 0.7500% | Bank of America Merrill Lynch | 12/11/2026 | 117,932 | $ | 26,356,623 | $ | (304,852) | ||||||||||||
| Total return of Real Estate Select Sector Index |
SOFR + 0.7500% | J.P. Morgan | 12/15/2026 | 163,164 | 32,624,642 | 3,302,724 | ||||||||||||||
| Total return of Real Estate Select Sector Index |
SOFR + 0.4300% | UBS Securities LLC | 12/17/2026 | 186,339 | 37,436,220 | 3,668,361 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 96,417,485 | $ | 6,666,233 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Regional Banks Bull 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 67.6% |
||||||||
| Credit Intermediation and Related Activities - 59.5% |
||||||||
| 12,194 | 1st Source Corp. (b) | $ | 1,094,290 | |||||
| 11,891 | Amalgamated Financial Corp. | 587,178 | ||||||
| 22,898 | Amerant Bancorp, Inc. (b) | 677,781 | ||||||
| 41,748 | Ameris Bancorp (b) | 3,640,843 | ||||||
| 7,710 | Arrow Financial Corp. | 307,166 | ||||||
| 126,263 | Associated Banc-Corp. | 3,899,001 | ||||||
| 92,372 | Atlantic Union Bankshares Corp. | 3,919,344 | ||||||
| 34,545 | Axos Financial, Inc. (a) | 3,503,208 | ||||||
| 12,187 | BancFirst Corp. | 1,374,937 | ||||||
| 8,629 | Bank First Corp. (b) | 1,317,993 | ||||||
| 37,348 | Bank of Hawaii Corp. | 2,984,105 | ||||||
| 70,801 | Bank OZK | 3,632,091 | ||||||
| 70,864 | BankUnited, Inc. | 3,305,806 | ||||||
| 23,896 | Banner Corp. | 1,682,517 | ||||||
| 71,570 | Beacon Financial Corp. | 2,255,171 | ||||||
| 27,461 | BOK Financial Corp. | 3,879,965 | ||||||
| 10,869 | Burke & Herbert Financial Services Corp. | 796,154 | ||||||
| 15,955 | Business First Bancshares, Inc. (b) | 507,688 | ||||||
| 15,884 | California BanCorp | 338,329 | ||||||
| 8,810 | Camden National Corp. | 510,011 | ||||||
| 79,583 | Capitol Federal Financial, Inc. | 703,514 | ||||||
| 22,829 | Carter Bankshares, Inc. | 789,427 | ||||||
| 34,603 | Cathay General Bancorp | 2,186,564 | ||||||
| 50,276 | Central BanCo, Inc. | 1,649,053 | ||||||
| 6,476 | ChoiceOne Financial Services, Inc. | 220,378 | ||||||
| 55,630 | Citizens Financial Group, Inc. | 3,985,889 | ||||||
| 10,133 | City Holding Co. | 1,470,400 | ||||||
| 6,888 | Civista Bancshares, Inc. | 200,165 | ||||||
| 11,882 | CNB Financial Corp. (b) | 417,058 | ||||||
| 15,293 | Coastal Financial Corp. (a) | 626,860 | ||||||
| 119,184 | Columbia Banking System, Inc. (b) | 3,726,884 | ||||||
| 66,232 | Commerce Bancshares, Inc. | 3,925,571 | ||||||
| 21,444 | Community Bank System, Inc. | 1,389,786 | ||||||
| 7,857 | Community Trust Bancorp, Inc. (b) | 616,382 | ||||||
| 17,448 | Community West Bancshares (b) | 436,723 | ||||||
| 27,240 | ConnectOne Bancorp, Inc. | 897,286 | ||||||
| 32,722 | Customers Bancorp, Inc. (a) | 2,574,567 | ||||||
| 139,852 | CVB Financial Corp. (b) | 3,128,489 | ||||||
| 23,550 | Dime Commercial Bancshares, Inc. | 959,898 | ||||||
| 24,357 | Eagle Bancorp, Inc. | 675,907 | ||||||
| 28,210 | East West Bancorp, Inc. | 3,695,510 | ||||||
| 166,102 | Eastern Bankshares, Inc. (b) | 3,813,702 | ||||||
| 23,095 | Enterprise Financial Services Corp. | 1,531,429 | ||||||
| 199,539 | F.N.B. Corp. | 3,771,287 | ||||||
| 32,368 | Farmers National Banc Corp. | 513,356 | ||||||
| 28,527 | FB Financial Corp. | 1,722,460 | ||||||
| 9,391 | Financial Institutions, Inc. | 389,351 | ||||||
| 18,952 | First Bancorp (b) | 1,191,512 | ||||||
| 114,004 | First BanCorp ADR | 3,298,136 | ||||||
| 52,251 | First Busey Corp. | 1,612,466 | ||||||
| 67,571 | First Commonwealth Financial Corp. | 1,454,804 | ||||||
| 68,119 | First Financial Bancorp | 2,304,466 | ||||||
| 68,153 | First Financial Bankshares, Inc. | 2,394,896 | ||||||
| 6,624 | First Financial Corp. | 533,563 | ||||||
| 129,013 | First Hawaiian, Inc. | 3,585,271 | ||||||
| 146,186 | First Horizon National Corp. | 3,748,209 | ||||||
| 34,466 | First Merchants Corp. | 1,486,863 | ||||||
| 249,564 | Flagstar Bank NA (b) | 3,548,800 | ||||||
| 159,052 | Fulton Financial Corp. | 3,869,735 | ||||||
| 7,499 | Great Southern Bancorp, Inc. (b) | 602,245 | ||||||
| 51,013 | Hancock Whitney Corp. | 3,928,001 | ||||||
| 21,055 | Hanmi Financial Corp. Class A | 671,233 | ||||||
| 23,472 | Heritage Financial Corp. (b) | 697,823 | ||||||
| 30,711 | Hilltop Holdings, Inc. | 1,211,242 | ||||||
| 9,662 | Home Bancorp, Inc. | 689,287 | ||||||
| 77,414 | Hope Bancorp, Inc. | 1,084,570 | ||||||
| 28,843 | Horizon Bancorp, Inc. | 589,839 | ||||||
| 214,588 | Huntington Bancshares, Inc. | 3,656,580 | ||||||
| 30,185 | Independent Bank Corp. (Massachusetts) | 2,530,409 | ||||||
| 15,216 | Independent Bank Corp. (Michigan) | 581,251 | ||||||
| 29,176 | International Bancshares Corp. | 2,233,131 | ||||||
| 27,297 | Kearny Financial Corp. | 261,778 | ||||||
| 14,967 | Lakeland Financial Corp. | 937,683 | ||||||
| 21,317 | Live Oak Bancshares, Inc. | 912,368 | ||||||
| 16,136 | M&T Bank Corp. | 3,974,135 | ||||||
| 41,485 | Mechanics Bancorp | 696,533 | ||||||
| 10,205 | Mercantile Bank Corp. | 613,116 | ||||||
| 21,479 | Meta Financial Group, Inc. | 1,895,307 | ||||||
| 13,908 | Mid Penn Bancorp, Inc. (b) | 533,233 | ||||||
| 10,377 | Midland States Bancorp, Inc. | 349,394 | ||||||
| 23,299 | NBT Bancorp, Inc. (b) | 1,226,692 | ||||||
| 16,033 | Nicolet Bankshares, Inc. | 2,740,360 | ||||||
| 9,781 | Northeast Bank | 1,214,507 | ||||||
| 64,661 | OceanFirst Financial Corp. | 1,248,604 | ||||||
| 23,568 | OFG Bancorp ADR | 1,245,804 | ||||||
| 148,283 | Old National Bancorp | 3,950,259 | ||||||
| 34,438 | Old Second Bancorp, Inc. | 870,937 | ||||||
| 15,701 | Origin Bancorp, Inc. | 859,316 | ||||||
| 11,491 | Orrstown Financial Services, Inc. | 491,010 | ||||||
| 7,713 | Park National Corp. (b) | 1,605,461 | ||||||
| 9,563 | Peapack-Gladstone Financial Corp. | 439,707 | ||||||
| 19,468 | Peoples Bancorp, Inc. | 811,037 | ||||||
| 38,811 | Pinnacle Financial Partners, Inc. | 4,084,082 | ||||||
| 23,142 | Popular, Inc. ADR | 4,054,710 | ||||||
| 9,845 | Preferred Bank | 1,028,212 | ||||||
| 50,814 | Prosperity Bancshares, Inc. | 3,804,444 | ||||||
| 89,236 | Provident Financial Services, Inc. | 2,202,344 | ||||||
| 6,324 | Red River Bancshares, Inc. | 635,878 | ||||||
| 126,439 | Regions Financial Corp. | 3,913,287 | ||||||
| 60,492 | Renasant Corp. (b) | 2,635,636 | ||||||
| 6,294 | Republic Bancorp, Inc. (b) | 626,505 | ||||||
| 21,764 | S&T Bancorp, Inc. (b) | 1,134,993 | ||||||
| 70,562 | Seacoast Banking Corp. of Florida (b) | 2,451,324 | ||||||
| 18,806 | Shore Bancshares, Inc. | 460,747 | ||||||
| 101,598 | Simmons First National Corp. | 2,396,697 | ||||||
| 10,024 | South Plains Financial, Inc. | 449,476 | ||||||
| 10,580 | Southern First Bancshares, Inc. (a) | 660,192 | ||||||
| 7,066 | Southern Missouri Bancorp, Inc. | 546,979 | ||||||
| 8,650 | Southside Bancshares, Inc. | 281,211 | ||||||
| 37,382 | SouthState Bank Corp. | 3,928,474 | ||||||
| 36,069 | Texas Capital Bancshares, Inc. | 3,565,421 | ||||||
| 68,959 | TFS Financial Corp. (b) | 1,269,535 | ||||||
| 44,351 | The Bancorp, Inc. (a) | 2,974,622 | ||||||
| 2,958 | The Hingham Institution for Savings (b) | 843,562 | ||||||
| 7,399 | Third Coast Bancshares, Inc. (a) | 324,372 | ||||||
| 5,129 | Tompkins Financial Corp. | 512,079 | ||||||
| 48,827 | Towne Bank | 1,851,032 | ||||||
| 12,053 | TriCo Bancshares | 693,530 | ||||||
| 21,458 | Triumph Financial, Inc. (a) | 1,629,306 | ||||||
| 72,622 | Truist Financial Corp. | 3,764,724 | ||||||
| 9,234 | TrustCo Bank Corp. | 526,153 | ||||||
| 34,962 | Trustmark Corp. | 1,658,947 | ||||||
| 27,387 | UMB Financial Corp. | 3,991,108 | ||||||
| 80,518 | United Bankshares, Inc. (b) | 3,901,097 | ||||||
| 74,157 | United Community Banks, Inc. | 2,628,124 | ||||||
| 14,999 | Univest Financial Corp. | 663,556 | ||||||
| 255,202 | Valley National Bancorp | 3,646,837 | ||||||
| 54,703 | WaFd, Inc. | 2,011,429 | ||||||
| 16,659 | Washington Trust Bancorp, Inc. | 649,368 | ||||||
| 50,307 | Webster Financial Corp. | 3,884,707 | ||||||
| 56,570 | WesBanco, Inc. | 2,340,867 | ||||||
| 17,119 | Westamerica Bancorp | 1,029,708 | ||||||
| 44,299 | Western Alliance Bancorp | 3,565,627 | ||||||
| 23,371 | Wintrust Financial Corp. | 3,728,609 | ||||||
| 34,919 | WSFS Financial Corp. | 2,800,504 | ||||||
| 54,901 | Zions Bancorp | 3,826,600 | ||||||
|
|
|
| ||||||
| 254,189,662 | ||||||||
|
|
|
| ||||||
| Management of Companies and Enterprises - 7.9% |
||||||||
| 183,901 | Banc of California, Inc. | 3,521,704 | ||||||
| 9,459 | Bar Harbor Bankshares | 375,617 | ||||||
| 15,456 | Byline Bancorp, Inc. (b) | 606,957 | ||||||
| 7,982 | Capital City Bank Group, Inc. | 414,026 | ||||||
| 12,183 | Central Pacific Financial Corp. | 480,010 | ||||||
| 56,787 | Columbia Financial, Inc. (b) | 613,868 | ||||||
| 25,007 | Cullen/Frost Bankers, Inc. | 4,159,664 | ||||||
| 9,367 | Equity Bancshares, Inc. | 474,720 | ||||||
| 9,780 | Esquire Financial Holdings, Inc. (b) | 1,263,772 | ||||||
| 99,770 | First Interstate BancSystem, Inc. (b) | 3,793,255 | ||||||
| 19,035 | Firstsun Capital Bancorp (a) | 736,274 | ||||||
| 75,458 | Glacier Bancorp, Inc. | 3,719,325 | ||||||
| 130,884 | Home Bancshares, Inc. | 4,066,566 | ||||||
| 6,118 | HomeTrust Bancshares, Inc. | 313,180 | ||||||
| 11,687 | Metropolitan Bank Holding Corp. | 1,080,814 | ||||||
| 34,716 | National Bank Holdings Corp. | 1,499,384 | ||||||
| 27,144 | NB Bancorp, Inc. | 624,583 | ||||||
| 11,578 | Northrim BanCorp, Inc. | 306,933 | ||||||
| 99,300 | Northwest Bancshares, Inc. | 1,562,982 | ||||||
| 24,851 | ServisFirst Bancshares, Inc. (b) | 2,224,165 | ||||||
| 5,828 | SmartFinancial, Inc. | 305,387 | ||||||
| 15,660 | Stock Yards Bancorp, Inc. | 1,332,666 | ||||||
|
|
|
| ||||||
| 33,475,852 | ||||||||
|
|
|
| ||||||
| Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 0.2% |
||||||||
| 8,971 | QCR Holdings, Inc. | 923,564 | ||||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $266,880,074) | $ | 288,589,078 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 32.2% |
||||||||
| Money Market Funds - 32.2% |
||||||||
| 58,202,058 | Dreyfus Government Cash Management Institutional Shares, 3.56% (c)(d) | $ | 58,202,058 | |||||
| 39,199,303 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (c) | 39,199,303 | ||||||
| 3,813,864 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (c) | 3,813,864 | ||||||
| 36,249,355 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (c) | 36,249,355 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $137,464,580) | $ | 137,464,580 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $404,344,654) - 99.8% (e) | $ | 426,053,658 | ||||||
| Other Assets in Excess of Liabilities - 0.2% | 1,057,398 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 427,111,056 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | A portion of this security represents a security on loan. |
| (c) | Represents annualized seven-day yield at July 31, 2026. |
| (d) | All or a portion of this security represents an investment of securities lending collateral. |
| (e) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $320,571,309. |
ADR - American Depository Receipt
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation |
||||||||||||||
| Total return of S&P Regional Banks Select Industry Index |
SOFR + 0.9500% | Goldman Sachs | 12/10/2026 | 43,521 | $ | 93,735,784 | $ | 9,801,064 | ||||||||||||
| Total return of S&P Regional Banks Select Industry Index |
SOFR + 0.7000% | Bank of America Merrill Lynch | 12/11/2026 | 44,413 | 93,952,262 | 11,401,824 | ||||||||||||||
| Total return of S&P Regional Banks Select Industry Index |
SOFR + 0.7500% | Societe Generale | 12/14/2026 | 65,000 | 136,604,000 | 17,509,966 | ||||||||||||||
| Total return of S&P Regional Banks Select Industry Index |
SOFR + 0.8500% | J.P. Morgan | 12/16/2026 | 25,000 | 52,456,578 | 6,739,660 | ||||||||||||||
| Total return of S&P Regional Banks Select Industry Index |
SOFR + 0.7500% | UBS Securities LLC | 12/17/2026 | 87,712 | 184,317,055 | 23,572,732 | ||||||||||||||
| Total return of S&P Regional Banks Select Industry Index |
SOFR + 0.6500% | Citibank N.A. | 12/22/2026 | 93,898 | 198,520,295 | 24,173,971 | ||||||||||||||
| Total return of S&P Regional Banks Select Industry Index |
SOFR + 0.7500% | Barclays | 12/22/2026 | 55,000 | 109,618,896 | 21,295,065 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 869,204,870 | $ | 114,494,282 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Retail Bull 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 72.5% |
||||||||
| Administrative and Support Services - 1.2% |
||||||||
| 13,117 | Revolve Group, Inc. (a) | $ | 329,368 | |||||
|
|
|
| ||||||
| Building Material and Garden Equipment and Supplies Dealers - 1.0% |
||||||||
| 8,674 | Tractor Supply Co. | 266,899 | ||||||
|
|
|
| ||||||
| Clothing, Clothing Accessories, Shoe, and Jewelry Retailers - 14.6% |
||||||||
| 3,128 | Abercrombie & Fitch Co. Class A (a)(b) | 311,361 | ||||||
| 5,349 | Academy Sports & Outdoors, Inc. (b) | 253,810 | ||||||
| 15,228 | American Eagle Outfitters, Inc. | 261,617 | ||||||
| 14,730 | Bath & Body Works, Inc. | 296,368 | ||||||
| 1,616 | Boot Barn Holdings, Inc. (a) | 240,768 | ||||||
| 15,124 | Caleres, Inc. | 194,192 | ||||||
| 12,651 | Gap, Inc. | 254,159 | ||||||
| 1,151 | Ross Stores, Inc. | 288,982 | ||||||
| 3,107 | Signet Jewelers Ltd. ADR (b) | 288,640 | ||||||
| 51,044 | Stitch Fix, Inc. (a) | 205,197 | ||||||
| 6,021 | The Buckle, Inc. | 263,539 | ||||||
| 29,268 | The RealReal, Inc. (a)(b) | 353,850 | ||||||
| 1,594 | TJX Companies, Inc. | 250,800 | ||||||
| 3,674 | Urban Outfitters, Inc. (a)(b) | 272,537 | ||||||
| 3,597 | Victoria’s Secret & Co. (a) | 318,982 | ||||||
|
|
|
| ||||||
| 4,054,802 | ||||||||
|
|
|
| ||||||
| Food and Beverage Retailers - 5.3% |
||||||||
| 17,471 | Albertsons Companies, Inc. Class A (b) | 202,314 | ||||||
| 28,888 | Grocery Outlet Holding Corp. (a)(b) | 265,481 | ||||||
| 2,852 | Ingles Markets, Inc. | 256,708 | ||||||
| 4,140 | Kroger Co. | 239,044 | ||||||
| 3,077 | Sprouts Farmers Market, Inc. (a) | 268,191 | ||||||
| 3,253 | Weis Markets, Inc. (b) | 250,644 | ||||||
|
|
|
| ||||||
| 1,482,382 | ||||||||
|
|
|
| ||||||
| Food Services and Drinking Places - 0.9% |
||||||||
| 290 | Casey’s General Stores, Inc. | 252,590 | ||||||
|
|
|
| ||||||
| Furniture, Home Furnishings, Electronics, and Appliance Retailers - 2.0% |
||||||||
| 3,528 | Best Buy Co., Inc. | 304,325 | ||||||
| 11,906 | GameStop Corp. Class A (a)(b) | 258,599 | ||||||
|
|
|
| ||||||
| 562,924 | ||||||||
|
|
|
| ||||||
| General Merchandise Retailers - 16.5% |
||||||||
| 1,122 | Amazon.com, Inc. (a) | 304,713 | ||||||
| 2,888 | BJ’s Wholesale Club Holdings, Inc. (a) | 282,389 | ||||||
| 814 | Burlington Stores, Inc. (a) | 299,943 | ||||||
| 272 | Costco Wholesale Corp. | 258,914 | ||||||
| 456 | Dillard’s, Inc. Class A | 268,283 | ||||||
| 2,428 | Dollar General Corp. | 308,477 | ||||||
| 2,421 | Dollar Tree, Inc. (a) | 307,975 | ||||||
| 2,511 | eBay, Inc. | 286,279 | ||||||
| 3,885 | Etsy, Inc. (a)(b) | 317,327 | ||||||
| 1,363 | Five Below, Inc. (a) | 295,948 | ||||||
| 16,819 | Kohl’s Corp. | 321,916 | ||||||
| 11,526 | Macy’s, Inc. | 286,075 | ||||||
| 1,527 | PriceSmart, Inc. (b) | 296,100 | ||||||
| 2,085 | Target Corp. | 301,262 | ||||||
| 2,213 | Walmart, Inc. | 246,086 | ||||||
| 686 | Winmark Corp. | 228,781 | ||||||
|
|
|
| ||||||
| 4,610,468 | ||||||||
|
|
|
| ||||||
| Health and Personal Care Retailers - 3.2% |
||||||||
| 20,405 | Sally Beauty Holdings, Inc. (a)(b) | 305,463 | ||||||
| 567 | Ulta Beauty, Inc. (a) | 290,775 | ||||||
| 10,666 | Warby Parker, Inc. (a)(b) | 284,675 | ||||||
|
|
|
| ||||||
| 880,913 | ||||||||
|
|
|
| ||||||
| Miscellaneous Manufacturing - 1.2% |
||||||||
| 15,185 | National Vision Holdings, Inc. (a)(b) | 334,677 | ||||||
|
|
|
| ||||||
| Motor Vehicle and Parts Dealers - 12.4% |
||||||||
| 4,497 | Advance Auto Parts, Inc. (b) | 249,763 | ||||||
| 1,348 | Asbury Automotive Group, Inc. (a)(b) | 312,332 | ||||||
| 1,381 | AutoNation, Inc. (a) | 293,325 | ||||||
| 86 | AutoZone, Inc. (a) | 259,398 | ||||||
| 5,505 | CarMax, Inc. (a) | 315,216 | ||||||
| 3,970 | Carvana Co. (a)(b) | 247,569 | ||||||
| 71,286 | EVgo, Inc. (a) | 112,632 | ||||||
| 817 | Group 1 Automotive, Inc. | 234,291 | ||||||
| 8,188 | MarineMax, Inc. (a) | 282,240 | ||||||
| 436 | Murphy USA, Inc. | 264,983 | ||||||
| 2,949 | O’Reilly Automotive, Inc. (a) | 263,493 | ||||||
| 1,500 | Penske Automotive Group, Inc. (b) | 325,965 | ||||||
| 3,171 | Sonic Automotive, Inc. (b) | 290,400 | ||||||
|
|
|
| ||||||
| 3,451,607 | ||||||||
|
|
|
| ||||||
| Printing and Related Support Activities - 0.6% |
||||||||
| 19,489 | Arko Corp. | 155,717 | ||||||
|
|
|
| ||||||
| Professional, Scientific, and Technical Services - 1.4% |
||||||||
| 14,589 | Groupon, Inc. (a)(b) | 402,365 | ||||||
|
|
|
| ||||||
| Rental and Leasing Services - 1.0% |
||||||||
| 14,765 | Upbound Group, Inc. | 286,293 | ||||||
|
|
|
| ||||||
| Repair and Maintenance - 1.0% |
||||||||
| 7,350 | Valvoline, Inc. (a) | 282,313 | ||||||
|
|
|
| ||||||
| Sporting Goods, Hobby, Musical Instrument, Book, and Miscellaneous Retailers - 8.0% |
||||||||
| 5,499 | Build-A-Bear Workshop, Inc. (b) | 186,526 | ||||||
| 27,746 | Camping World Holdings, Inc. | 171,748 | ||||||
| 13,361 | Chewy, Inc. Class A (a) | 301,959 | ||||||
| 17,653 | Coupang, Inc. (a) | 288,627 | ||||||
| 1,242 | Dick’s Sporting Goods, Inc. | 243,320 | ||||||
| 14,950 | Monro, Inc. (b) | 183,137 | ||||||
| 3,409 | Ollie’s Bargain Outlet Holdings, Inc. (a) | 250,459 | ||||||
| 8,522 | Pattern Group, Inc. (a) | 196,176 | ||||||
| 14,949 | Savers Value Village, Inc. (a) | 153,377 | ||||||
| 42,196 | ThredUp, Inc. (a) | 243,893 | ||||||
|
|
|
| ||||||
| 2,219,222 | ||||||||
|
|
|
| ||||||
| Truck Transportation - 2.2% |
||||||||
| 875 | Lithia Motors, Inc. Class A | 337,243 | ||||||
| 6,479 | Maplebear, Inc. (a) | 288,963 | ||||||
|
|
|
| ||||||
| 626,206 | ||||||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $17,178,545) | $ | 20,198,746 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 34.1% |
||||||||
| Money Market Funds - 34.1% |
||||||||
| 5,550,635 | Dreyfus Government Cash Management Institutional Shares, 3.56% (c)(d) | $ | 5,550,635 | |||||
| 1,483,475 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (c) | 1,483,475 | ||||||
| 2,464,288 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (c) | 2,464,288 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $9,498,398) | $ | 9,498,398 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $26,676,943) - 106.6% (e) | $ | 29,697,144 | ||||||
| Liabilities in Excess of Other Assets - (6.6)% | (1,827,778) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 27,869,366 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | A portion of this security represents a security on loan. |
| (c) | Represents annualized seven-day yield at July 31, 2026. |
| (d) | All or a portion of this security represents an investment of securities lending collateral. |
| (e) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $17,143,386. |
ADR - American Depository Receipt
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
|
Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination |
Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation |
||||||||||||||
| Total return of S&P Retail Select Industry® Index |
SOFR + 0.7500% | J.P. Morgan | 12/16/2026 | 1,081 | $ | 9,958,331 | $ | 110,293 | ||||||||||||
| Total return of S&P Retail Select Industry® Index |
SOFR + 0.6000% | UBS Securities LLC | 12/17/2026 | 3,347 | 28,552,796 | 2,985,690 | ||||||||||||||
| Total return of S&P Retail Select Industry® Index |
SOFR + 0.8000% | Citibank N.A. | 12/22/2026 | 1,110 | 10,054,048 | 361,484 | ||||||||||||||
| Total return of S&P Retail Select Industry® Index |
SOFR + 0.7000% | Barclays | 12/22/2026 | 1,138 | 9,822,380 | 895,007 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 58,387,555 | $ | 4,352,474 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily S&P 500® Bear 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 86.6% |
||||||||
| Money Market Funds - 86.6% |
||||||||
| 161,319,708 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 161,319,708 | |||||
| 46,535,106 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 46,535,106 | ||||||
| 45,247,975 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 45,247,975 | ||||||
| 137,687,154 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 137,687,154 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $390,789,943) (b) | $ | 390,789,943 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $390,789,943) - 86.6% | $ | 390,789,943 | ||||||
| Other Assets in Excess of Liabilities - 13.4% | 60,673,760 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 451,463,703 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $255,420,587. |
| Short Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination |
Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Depreciation |
||||||||||||||
| SOFR + 0.2000% |
Total return of S&P 500® Index | BNP Paribas | 12/4/2026 | 6,748 | $ | 46,271,846 | $ | (3,443,792) | ||||||||||||
| SOFR + 0.6500% |
Total return of S&P 500® Index | Goldman Sachs | 12/10/2026 | 46,510 | 337,875,245 | (8,510,292) | ||||||||||||||
| SOFR + 0.5000% |
Total return of S&P 500® Index | Bank of America Merrill Lynch | 12/11/2026 | 27,481 | 196,952,512 | (6,832,452) | ||||||||||||||
| SOFR + 0.4900% |
Total return of S&P 500® Index | J.P. Morgan | 12/16/2026 | 12,547 | 85,526,751 | (6,830,328) | ||||||||||||||
| SOFR + 0.4500% |
Total return of S&P 500® Index | UBS Securities LLC | 12/17/2026 | 8,522 | 58,588,392 | (4,457,941) | ||||||||||||||
| SOFR + 0.5000% |
Total return of S&P 500® Index | Citibank N.A. | 12/22/2026 | 32,636 | 233,312,761 | (8,948,989) | ||||||||||||||
| SOFR + 0.7000% |
Total return of S&P 500® Index | Barclays | 12/22/2026 | 46,382 | 346,499,319 | (485,616) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 1,305,026,826 | $ | (39,509,410) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily S&P 500® Bull 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 74.8% |
||||||||
| Accommodation - 0.3% |
||||||||
| 32,674 | Airbnb, Inc. Class A (a) | $ | 4,950,764 | |||||
| 17,795 | Hilton Worldwide Holdings, Inc. | 5,703,120 | ||||||
| 49,794 | Host Hotels & Resorts, Inc. | 1,251,323 | ||||||
| 23,311 | Las Vegas Sands Corp. | 1,139,675 | ||||||
| 17,107 | Marriott International, Inc. Class C | 6,378,003 | ||||||
| 15,000 | MGM Resorts International (a) | 668,550 | ||||||
| 6,557 | Wynn Resorts Ltd. (b) | 651,176 | ||||||
|
|
|
| ||||||
| 20,742,611 | ||||||||
|
|
|
| ||||||
| Administrative and Support Services - 1.8% |
||||||||
| 6,716 | Allegion PLC ADR (Ireland) | 1,057,098 | ||||||
| 36,147 | Amcor PLC ADR (United Kingdom) (b) | 1,622,277 | ||||||
| 7,027 | Ameriprise Financial, Inc. | 3,835,618 | ||||||
| 31,248 | Automatic Data Processing, Inc. | 8,326,342 | ||||||
| 60,570 | Booking Holdings, Inc. | 11,683,953 | ||||||
| 9,040 | Broadridge Financial Solutions, Inc. | 1,391,708 | ||||||
| 5,109 | Corpay, Inc. (a) | 1,952,200 | ||||||
| 9,308 | Equifax, Inc. | 1,606,747 | ||||||
| 2,847 | FactSet Research System, Inc. (b) | 749,330 | ||||||
| 5,234 | Gartner, Inc. (a) | 790,439 | ||||||
| 23,262 | Iron Mountain, Inc. | 2,845,408 | ||||||
| 12,369 | Live Nation Entertainment, Inc. (a)(b) | 2,153,814 | ||||||
| 11,748 | Moody’s Corp. | 5,620,008 | ||||||
| 24,661 | Paramount Skydance Corp. (b) | 196,302 | ||||||
| 16,366 | Qnity Electronics, Inc. | 2,146,892 | ||||||
| 22,960 | Rollins, Inc. | 871,791 | ||||||
| 19,501 | Royal Caribbean Cruises Ltd. ADR (Liberia) | 6,207,168 | ||||||
| 159,138 | Uber Technologies, Inc. (a) | 11,196,950 | ||||||
| 129,750 | Visa, Inc. Class A | 47,505,368 | ||||||
| 28,884 | Waste Management, Inc. | 6,543,670 | ||||||
|
|
|
| ||||||
| 118,303,083 | ||||||||
|
|
|
| ||||||
| Air Transportation - 0.1% |
||||||||
| 51,086 | Delta Air Lines, Inc. | 4,466,960 | ||||||
| 38,211 | Southwest Airlines Co. | 1,718,348 | ||||||
| 25,375 | United Continental Holdings, Inc. (a) | 3,078,749 | ||||||
|
|
|
| ||||||
| 9,264,057 | ||||||||
|
|
|
| ||||||
| Ambulatory Health Care Services - 0.1% |
||||||||
| 2,512 | DaVita, Inc. (a)(b) | 603,106 | ||||||
| 6,410 | Labcorp Holdings, Inc. | 1,981,972 | ||||||
| 8,650 | Quest Diagnostics, Inc. | 2,015,536 | ||||||
| 91,048 | Viatris, Inc. | 1,598,803 | ||||||
|
|
|
| ||||||
| 6,199,417 | ||||||||
|
|
|
| ||||||
| Amusement, Gambling, and Recreation Industries - 0.2% |
||||||||
| 135,750 | The Walt Disney Co. | 13,057,792 | ||||||
|
|
|
| ||||||
| Apparel Manufacturing - 0.1% |
||||||||
| 26,591 | Cintas Corp. | 5,441,316 | ||||||
| 11,097 | Deckers Outdoor Corp. (a) | 1,075,077 | ||||||
| 3,022 | Ralph Lauren Corp. | 1,149,388 | ||||||
|
|
|
| ||||||
| 7,665,781 | ||||||||
|
|
|
| ||||||
| Beverage and Tobacco Product Manufacturing - 0.9% |
||||||||
| 130,547 | Altria Group, Inc. | 8,920,277 | ||||||
| 10,902 | Constellation Brands, Inc. Class A | 1,419,768 | ||||||
| 106,367 | Keurig Dr Pepper, Inc. | 3,310,141 | ||||||
| 12,543 | Molson Coors Brewing Co. Class B | 521,287 | ||||||
| 55,814 | Monster Beverage Corp. (a) | 5,379,353 | ||||||
| 106,854 | PepsiCo, Inc. | 14,912,544 | ||||||
| 121,850 | Philip Morris International, Inc. | 23,251,417 | ||||||
|
|
|
| ||||||
| 57,714,787 | ||||||||
|
|
|
| ||||||
| Broadcasting and Content Providers - 0.2% |
||||||||
| 6,539 | Charter Communications, Inc. (a)(b) | 948,024 | ||||||
| 278,530 | Comcast Corp. Class A | 6,673,579 | ||||||
| 15,595 | FOX Corp. Class A (b) | 908,097 | ||||||
| 10,868 | FOX Corp. Class B | 564,484 | ||||||
| 4,922 | TKO Group Holdings, Inc. (b) | 894,869 | ||||||
| 193,760 | Warner Bros Discovery, Inc. (a) | 5,095,888 | ||||||
|
|
|
| ||||||
| 15,084,941 | ||||||||
|
|
|
| ||||||
| Building Material and Garden Equipment and Supplies Dealers - 0.5% |
||||||||
| 43,786 | Lowe’s Companies, Inc. | 9,099,169 | ||||||
| 77,866 | The Home Depot, Inc. | 25,848,397 | ||||||
| 41,002 | Tractor Supply Co. | 1,261,632 | ||||||
|
|
|
| ||||||
| 36,209,198 | ||||||||
|
|
|
| ||||||
| Chemical Manufacturing - 4.3% |
||||||||
| 138,128 | AbbVie, Inc. | 34,661,840 | ||||||
| 17,409 | Air Products & Chemicals, Inc. | 5,133,740 | ||||||
| 9,220 | Albemarle Corp. | 1,084,641 | ||||||
| 42,194 | Amgen, Inc. | 16,251,441 | ||||||
| 11,542 | Biogen, Inc. (a) | 2,342,449 | ||||||
| 12,240 | Bio-Techne Corp. | 882,382 | ||||||
| 159,649 | Bristol-Myers Squibb Co. | 10,426,676 | ||||||
| 12,010 | CF Industries Holdings, Inc. | 1,503,532 | ||||||
| 18,524 | Church & Dwight Co., Inc. | 1,830,356 | ||||||
| 9,454 | Clorox Co. | 903,141 | ||||||
| 62,559 | Colgate-Palmolive Co. | 5,711,637 | ||||||
| 10,679 | DuPont de Nemours, Inc. | 1,463,023 | ||||||
| 19,800 | Ecolab, Inc. | 5,497,074 | ||||||
| 61,844 | Eli Lilly & Co. | 71,048,861 | ||||||
| 97,065 | Gilead Sciences, Inc. | 12,638,834 | ||||||
| 13,118 | Incyte Corp. (a) | 1,567,863 | ||||||
| 44,211 | IntercontinentalExchange, Inc. | 6,741,293 | ||||||
| 19,961 | International Flavors & Fragrances, Inc. | 1,581,310 | ||||||
| 150,106 | Kenvue, Inc. | 2,888,039 | ||||||
| 25,947 | Kimberly-Clark Corp. | 2,836,267 | ||||||
| 36,146 | Linde PLC ADR (Ireland) | 17,291,523 | ||||||
| 20,185 | LyondellBasell Industries N.V. Class A ADR (Netherlands) | 1,253,085 | ||||||
| 193,084 | Merck & Co., Inc. | 25,139,537 | ||||||
| 24,848 | Mosaic Co. | 549,638 | ||||||
| 445,582 | Pfizer, Inc. | 11,144,006 | ||||||
| 17,424 | PPG Industries, Inc. | 1,925,700 | ||||||
| 182,048 | Procter & Gamble Co. | 26,304,116 | ||||||
| 7,811 | Regeneron Pharmaceuticals, Inc. | 5,956,903 | ||||||
| 19,843 | Vertex Pharmaceuticals, Inc. (a) | 9,467,095 | ||||||
| 32,772 | Zoetis, Inc. | 2,532,948 | ||||||
|
|
|
| ||||||
| 288,558,950 | ||||||||
|
|
|
| ||||||
| Clothing, Clothing Accessories, Shoe, and Jewelry Retailers - 0.3% |
||||||||
| 8,185 | Lululemon Athletica, Inc. (a) | 972,951 | ||||||
| 25,184 | Ross Stores, Inc. | 6,322,947 | ||||||
| 86,452 | TJX Companies, Inc. | 13,602,357 | ||||||
|
|
|
| ||||||
| 20,898,255 | ||||||||
|
|
|
| ||||||
| Computer and Electronic Product Manufacturing - 26.3% |
||||||||
| 127,477 | Advanced Micro Devices, Inc. (a) | 60,698,174 | ||||||
| 22,093 | Agilent Technologies, Inc. | 3,057,008 | ||||||
| 458,417 | Alphabet, Inc. | 163,256,046 | ||||||
| 369,506 | Alphabet, Inc. Class C | 131,784,315 | ||||||
| 17,920 | AMETEK, Inc. | 4,331,443 | ||||||
| 96,181 | Amphenol Corp. Class A | 15,456,287 | ||||||
| 38,166 | Analog Devices, Inc. | 14,022,570 | ||||||
| 1,148,247 | Apple, Inc. | 354,704,981 | ||||||
| 62,043 | Applied Materials, Inc. | 31,497,370 | ||||||
| 80,725 | Arista Networks, Inc. (a) | 14,558,754 | ||||||
| 370,153 | Broadcom, Inc. | 144,093,160 | ||||||
| 308,800 | Cisco Systems, Inc. | 35,817,712 | ||||||
| 49,245 | Danaher Corp. | 9,601,790 | ||||||
| 22,615 | Dell Technologies, Inc. | 9,167,443 | ||||||
| 10,657 | EchoStar Corp. (a) | 896,147 | ||||||
| 8,402 | First Solar, Inc. (a) | 1,773,074 | ||||||
| 28,827 | Flex Ltd. ADR (Singapore) (a) | 3,279,071 | ||||||
| 48,685 | Fortinet, Inc. (a) | 7,884,536 | ||||||
| 23,833 | Fortive Corp. | 1,411,152 | ||||||
| 35,561 | GE HealthCare Technologies, Inc. | 2,418,859 | ||||||
| 71,499 | HP, Inc. | 1,949,778 | ||||||
| 369,358 | Intel Corp. (a) | 33,316,092 | ||||||
| 73,480 | International Business Machines Corp. | 16,433,802 | ||||||
| 8,245 | Jabil Circuit, Inc. | 2,597,587 | ||||||
| 13,408 | Keysight Technologies, Inc. (a) | 4,278,225 | ||||||
| 14,563 | L3Harris Technologies, Inc. | 4,034,825 | ||||||
| 97,770 | Lam Research Corp. | 28,648,565 | ||||||
| 6,081 | Lumentum Holdings, Inc. (a) | 4,341,469 | ||||||
| 68,637 | Marvell Technology, Inc. | 12,873,556 | ||||||
| 42,306 | Microchip Technology, Inc. | 3,142,913 | ||||||
| 88,165 | Micron Technology, Inc. | 72,562,440 | ||||||
| 3,840 | Monolithic Power Systems, Inc. | 5,475,955 | ||||||
| 12,979 | Motorola Solutions, Inc. | 5,655,599 | ||||||
| 15,427 | NetApp, Inc. | 2,753,720 | ||||||
| 10,437 | Northrop Grumman Corp. | 5,661,864 | ||||||
| 1,893,527 | NVIDIA Corp. | 380,125,545 | ||||||
| 19,735 | NXP Semiconductors NV ADR (Netherlands) | 4,522,473 | ||||||
| 30,638 | ON Semiconductor Corp. (a) | 2,500,367 | ||||||
| 29,999 | Otis Worldwide Corp. | 2,158,428 | ||||||
| 63,406 | Palo Alto Networks, Inc. (a) | 21,040,013 | ||||||
| 82,399 | Qualcomm, Inc. | 12,162,916 | ||||||
| 8,723 | Revvity, Inc. | 981,512 | ||||||
| 7,886 | Roper Technologies, Inc. | 3,091,075 | ||||||
| 105,283 | RTX Corp. | 22,659,007 | ||||||
| 11,575 | Sandisk Corp. (a) | 14,061,657 | ||||||
| 17,533 | Seagate Technology Holdings PLC ADR (Ireland) | 15,010,527 | ||||||
| 11,761 | Skyworks Solutions, Inc. (b) | 732,475 | ||||||
| 44,008 | Super Micro Computer, Inc. (a)(b) | 1,249,827 | ||||||
| 3,622 | Teledyne Technologies, Inc. (a) | 2,374,475 | ||||||
| 12,238 | Teradyne, Inc. | 4,499,790 | ||||||
| 71,150 | Texas Instruments, Inc. | 19,618,901 | ||||||
| 29,050 | Thermo Fisher Scientific, Inc. | 16,683,415 | ||||||
| 18,219 | Trimble, Inc. (a) | 1,030,831 | ||||||
| 19,202 | Veralto Corp. | 1,808,252 | ||||||
| 30,030 | Vertiv Holdings Co. | 7,254,347 | ||||||
| 7,678 | Waters Corp. (a) | 2,896,986 | ||||||
| 26,950 | Western Digital Corp. | 14,683,438 | ||||||
| 3,724 | Zebra Technologies Corp. Class A (a)(b) | 1,094,186 | ||||||
|
|
|
| ||||||
| 1,765,676,725 | ||||||||
|
|
|
| ||||||
| Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services - 0.1% |
||||||||
| 15,296 | Coherent Corp. (a) | 4,021,165 | ||||||
| 41,687 | Fiserv, Inc. (a) | 2,248,597 | ||||||
|
|
|
| ||||||
| 6,269,762 | ||||||||
|
|
|
| ||||||
| Construction of Buildings - 0.1% |
||||||||
| 20,618 | D.R. Horton, Inc. | 2,949,611 | ||||||
| 16,829 | Lennar Corp. Class A | 1,385,868 | ||||||
| 215 | NVR, Inc. (a) | 1,321,616 | ||||||
| 14,893 | PulteGroup, Inc. | 1,883,518 | ||||||
|
|
|
| ||||||
| 7,540,613 | ||||||||
|
|
|
| ||||||
| Couriers and Messengers - 0.2% |
||||||||
| 17,164 | FedEx Corp. | 5,276,214 | ||||||
| 58,368 | United Parcel Service, Inc. Class B | 6,083,113 | ||||||
|
|
|
| ||||||
| 11,359,327 | ||||||||
|
|
|
| ||||||
| Credit Intermediation and Related Activities - 3.9% |
||||||||
| 41,606 | American Express Co. | 13,990,018 | ||||||
| 510,399 | Bank of America Corp. | 31,619,218 | ||||||
| 53,657 | Bank of New York Mellon Corp. | 8,388,199 | ||||||
| 48,649 | Capital One Financial Corp. | 10,168,127 | ||||||
| 133,332 | Citigroup, Inc. | 17,659,823 | ||||||
| 33,062 | Citizens Financial Group, Inc. | 2,368,892 | ||||||
| 17,389 | Coinbase Global, Inc. (a) | 2,543,315 | ||||||
| 40,411 | Fidelity National Information Services, Inc. | 1,809,200 | ||||||
| 70,857 | Fifth Third Bancorp | 4,003,421 | ||||||
| 18,175 | Global Payments, Inc. (b) | 1,528,154 | ||||||
| 158,478 | Huntington Bancshares, Inc. | 2,700,465 | ||||||
| 209,480 | JPMorgan Chase & Co. | 73,692,969 | ||||||
| 72,046 | KeyCorp | 1,627,519 | ||||||
| 11,448 | M&T Bank Corp. | 2,819,528 | ||||||
| 63,079 | MasterCard, Inc. Class A | 36,150,575 | ||||||
| 14,467 | Northern Trust Corp. | 2,635,743 | ||||||
| 31,394 | PNC Financial Services Group, Inc. | 7,844,419 | ||||||
| 66,712 | Regions Financial Corp. | 2,064,736 | ||||||
| 21,635 | State Street Corp. | 3,984,302 | ||||||
| 26,295 | Synchrony Financial | 1,992,898 | ||||||
| 97,398 | Truist Financial Corp. | 5,049,112 | ||||||
| 121,355 | U.S. Bancorp | 7,646,579 | ||||||
| 239,237 | Wells Fargo & Co. | 20,682,039 | ||||||
|
|
|
| ||||||
| 262,969,251 | ||||||||
|
|
|
| ||||||
| Electrical Equipment, Appliance, and Component Manufacturing - 0.2% |
||||||||
| 8,757 | A.O. Smith Corp. (b) | 526,558 | ||||||
| 6,301 | Axon Enterprise, Inc. (a) | 3,325,416 | ||||||
| 43,789 | Emerson Electric Co. | 6,560,468 | ||||||
| 4,600 | Generac Holdings, Inc. (a) | 906,706 | ||||||
| 8,700 | Rockwell Automation, Inc. | 4,176,696 | ||||||
|
|
|
| ||||||
| 15,495,844 | ||||||||
|
|
|
| ||||||
| Fabricated Metal Product Manufacturing - 0.1% |
||||||||
| 20,813 | Ball Corp. | 1,350,764 | ||||||
| 17,802 | Nucor Corp. | 4,580,277 | ||||||
| 12,635 | Pentair PLC ADR (Ireland) | 826,834 | ||||||
| 4,050 | Snap-on, Inc. | 1,662,160 | ||||||
| 12,155 | Stanley Black & Decker, Inc. (b) | 1,149,620 | ||||||
|
|
|
| ||||||
| 9,569,655 | ||||||||
|
|
|
| ||||||
| Food and Beverage Retailers - 0.0% (†) |
||||||||
| 44,342 | Kroger Co. | 2,560,307 | ||||||
|
|
|
| ||||||
| Food Manufacturing - 0.7% |
||||||||
| 37,680 | Archer-Daniels-Midland Co. | 2,986,894 | ||||||
| 302,727 | Coca-Cola Co. | 26,515,858 | ||||||
| 41,722 | General Mills, Inc. | 1,491,561 | ||||||
| 22,800 | Hormel Foods Corp. | 570,228 | ||||||
| 19,859 | McCormick & Co, Inc. | 1,010,823 | ||||||
| 100,356 | Mondelez International, Inc. | 6,253,182 | ||||||
| 11,586 | The Hershey Co. | 2,028,129 | ||||||
| 8,339 | The J.M. Smucker Co. | 994,509 | ||||||
| 66,749 | The Kraft Heinz Co. | 1,725,462 | ||||||
| 22,055 | Tyson Foods, Inc. Class A | 1,278,308 | ||||||
|
|
|
| ||||||
| 44,854,954 | ||||||||
|
|
|
| ||||||
| Food Services and Drinking Places - 0.6% |
||||||||
| 2,890 | Casey’s General Stores, Inc. | 2,517,190 | ||||||
| 100,281 | Chipotle Mexican Grill, Inc. (a) | 3,732,459 | ||||||
| 8,953 | Darden Restaurants, Inc. | 1,822,652 | ||||||
| 29,590 | DoorDash, Inc. (a) | 5,804,374 | ||||||
| 55,545 | McDonald’s Corp. | 15,032,699 | ||||||
| 89,102 | Starbucks Corp. | 9,377,985 | ||||||
| 21,546 | Yum! Brands, Inc. | 3,302,571 | ||||||
|
|
|
| ||||||
| 41,589,930 | ||||||||
|
|
|
| ||||||
| Funds, Trusts, and Other Financial Vehicles - 0.1% |
||||||||
| 12,816 | Garmin Ltd. ADR (Switzerland) | 3,765,084 | ||||||
| 16,749 | T. Rowe Price Group, Inc. | 1,871,701 | ||||||
|
|
|
| ||||||
| 5,636,785 | ||||||||
|
|
|
| ||||||
| Furniture, Home Furnishings, Electronics, and Appliance Retailers - 0.0% (†) |
||||||||
| 15,320 | Best Buy Co., Inc. | 1,321,503 | ||||||
|
|
|
| ||||||
| Gasoline Stations and Fuel Dealers - 0.4% |
||||||||
| 146,359 | Chevron Corp. | 28,807,842 | ||||||
|
|
|
| ||||||
| General Merchandise Retailers - 4.4% |
||||||||
| 765,299 | Amazon.com, Inc. (a) | 207,839,902 | ||||||
| 34,683 | Costco Wholesale Corp. | 33,014,401 | ||||||
| 17,218 | Dollar General Corp. | 2,187,547 | ||||||
| 14,157 | Dollar Tree, Inc. (a) | 1,800,912 | ||||||
| 34,708 | eBay, Inc. | 3,957,059 | ||||||
| 35,507 | Target Corp. | 5,130,407 | ||||||
| 342,743 | Walmart, Inc. | 38,113,022 | ||||||
| 9,205 | Williams-Sonoma, Inc. | 2,104,815 | ||||||
|
|
|
| ||||||
| 294,148,065 | ||||||||
|
|
|
| ||||||
| Health and Personal Care Retailers - 0.2% |
||||||||
| 99,749 | CVS Health Corp. | 10,416,788 | ||||||
| 3,406 | Ulta Beauty, Inc. (a) | 1,746,699 | ||||||
|
|
|
| ||||||
| 12,163,487 | ||||||||
|
|
|
| ||||||
| Hospitals - 0.1% |
||||||||
| 12,141 | HCA Healthcare, Inc. | 4,887,845 | ||||||
| 4,165 | Universal Health Services, Inc. Class B (b) | 701,553 | ||||||
|
|
|
| ||||||
| 5,589,398 | ||||||||
|
|
|
| ||||||
| Insurance Carriers and Related Activities - 3.0% |
||||||||
| 35,810 | Aflac, Inc. | 4,565,059 | ||||||
| 20,122 | Allstate Corp. | 5,313,818 | ||||||
| 41,449 | American International Group, Inc. | 3,257,062 | ||||||
| 27,202 | Arch Capital Group Ltd. ADR (a) | 2,734,617 | ||||||
| 20,082 | Arthur J. Gallagher & Co. | 5,008,852 | ||||||
| 3,871 | Assurant, Inc. | 1,080,744 | ||||||
| 143,326 | Berkshire Hathaway, Inc. Class B (a) | 73,316,982 | ||||||
| 22,787 | Brown & Brown, Inc. (b) | 1,604,205 | ||||||
| 36,674 | Centene Corp. (a) | 2,281,856 | ||||||
| 28,197 | Chubb Limited ADR (Switzerland) | 9,888,124 | ||||||
| 20,684 | Cigna Corp. | 5,771,870 | ||||||
| 12,095 | Cincinnati Financial Corp. | 2,149,040 | ||||||
| 16,978 | Elevance Health, Inc. | 6,381,012 | ||||||
| 1,984 | Erie Indemnity Co. Class A (b) | 480,207 | ||||||
| 3,092 | Everest Re Group Ltd. ADR | 1,156,872 | ||||||
| 6,068 | Globe Life, Inc. | 1,105,893 | ||||||
| 9,382 | Humana, Inc. | 3,413,735 | ||||||
| 13,192 | Loews Corp. | 1,530,404 | ||||||
| 37,667 | Marsh & McLennan Companies, Inc. | 7,145,053 | ||||||
| 42,255 | MetLife, Inc. | 4,061,973 | ||||||
| 15,367 | Principal Financial Group, Inc. | 1,747,228 | ||||||
| 45,683 | Progressive Corp. | 9,658,300 | ||||||
| 27,129 | Prudential Financial, Inc. | 3,311,908 | ||||||
| 21,433 | The Hartford Insurance Group, Inc. | 3,041,557 | ||||||
| 16,624 | Travelers Companies, Inc. | 6,223,361 | ||||||
| 70,995 | UnitedHealth Group, Inc. | 29,420,328 | ||||||
| 22,990 | W.R. Berkley Corp. | 1,667,695 | ||||||
| 7,383 | Willis Towers Watson PLC ADR (Ireland) | 2,480,097 | ||||||
|
|
|
| ||||||
| 199,797,852 | ||||||||
|
|
|
| ||||||
| Leather and Allied Product Manufacturing - 0.1% |
||||||||
| 93,778 | NIKE, Inc. Class B | 3,911,480 | ||||||
| 15,796 | Tapestry, Inc. | 2,406,837 | ||||||
|
|
|
| ||||||
| 6,318,317 | ||||||||
|
|
|
| ||||||
| Machinery Manufacturing - 1.7% |
||||||||
| 77,561 | Baker Hughes Co. | 4,691,665 | ||||||
| 61,036 | Carrier Global Corp. | 3,772,635 | ||||||
| 36,011 | Caterpillar, Inc. | 29,342,123 | ||||||
| 10,787 | Cummins, Inc. | 6,841,115 | ||||||
| 19,639 | Deere & Co. | 11,639,446 | ||||||
| 81,564 | GE Aerospace | 29,368,750 | ||||||
| 5,787 | IDEX Corp. | 1,333,614 | ||||||
| 27,838 | Ingersoll Rand, Inc. | 2,321,132 | ||||||
| 1,579 | Mettler-Toledo International, Inc. (a) | 2,236,338 | ||||||
| 4,144 | Nordson Corp. | 1,234,000 | ||||||
| 9,862 | Parker Hannifin Corp. | 9,630,539 | ||||||
| 17,282 | Trane Technologies PLC ADR (Ireland) | 7,862,446 | ||||||
| 18,578 | Xylem, Inc. | 2,173,069 | ||||||
|
|
|
| ||||||
| 112,446,872 | ||||||||
|
|
|
| ||||||
| Management of Companies and Enterprises - 0.4% |
||||||||
| 136,173 | Abbott Laboratories | 14,393,486 | ||||||
| 16,694 | Aon PLC ADR (United Kingdom) | 6,019,022 | ||||||
| 10,622 | Bunge Global SA ADR (Switzerland) | 1,128,375 | ||||||
| 35,893 | Norwegian Cruise Line Holdings Ltd. ADR (a) | 665,097 | ||||||
| 41,004 | Smurfit WestRock PLC ADR (Ireland) | 1,884,954 | ||||||
|
|
|
| ||||||
| 24,090,934 | ||||||||
|
|
|
| ||||||
| Merchant Wholesalers, Durable Goods - 0.7% |
||||||||
| 8,410 | Builders FirstSource, Inc. (a) | 558,760 | ||||||
| 69,285 | Copart, Inc. (a) | 2,017,579 | ||||||
| 89,750 | Fastenal Co. | 4,281,972 | ||||||
| 10,759 | Genuine Parts Co. | 1,338,097 | ||||||
| 7,569 | Henry Schein, Inc. (a) | 649,042 | ||||||
| 4,132 | Hubbell, Inc. | 1,952,577 | ||||||
| 3,080 | Huntington Ingalls Industries, Inc. | 1,005,466 | ||||||
| 47,697 | Johnson Controls International PLC ADR (Ireland) | 6,995,242 | ||||||
| 102,123 | KLA-Tencor Corp. | 18,670,127 | ||||||
| 2,475 | Lennox International, Inc. | 1,029,303 | ||||||
| 22,820 | TE Connectivity PLC ADR (Ireland) | 4,693,846 | ||||||
| 3,396 | W.W. Grainger, Inc. | 4,694,019 | ||||||
|
|
|
| ||||||
| 47,886,030 | ||||||||
|
|
|
| ||||||
| Merchant Wholesalers, Nondurable Goods - 0.5% |
||||||||
| 13,160 | Brown Forman Corp. Class B | 378,087 | ||||||
| 18,311 | Cardinal Health, Inc. | 4,212,079 | ||||||
| 15,211 | Cencora, Inc. | 4,735,793 | ||||||
| 2,390 | Domino’s Pizza, Inc. | 830,382 | ||||||
| 20,465 | Illinois Tool Works, Inc. | 5,872,432 | ||||||
| 9,392 | McKesson Corp. | 8,041,336 | ||||||
| 37,383 | Sysco Corp. | 3,186,527 | ||||||
| 17,933 | The Sherwin Williams Co. | 6,112,463 | ||||||
|
|
|
| ||||||
| 33,369,099 | ||||||||
|
|
|
| ||||||
| Mining (except Oil and Gas) - 0.3% |
||||||||
| 112,386 | Freeport-McMoRan Copper & Gold, Inc. | 7,038,735 | ||||||
| 4,694 | Martin Marietta Materials, Inc. | 2,465,007 | ||||||
| 83,453 | Newmont Corp. | 7,820,381 | ||||||
| 10,140 | Vulcan Materials Co. | 2,723,300 | ||||||
|
|
|
| ||||||
| 20,047,423 | ||||||||
|
|
|
| ||||||
| Miscellaneous Manufacturing - 1.7% |
||||||||
| 40,777 | 3M Co. | 7,188,170 | ||||||
| 5,207 | Align Technology, Inc. (a) | 880,816 | ||||||
| 40,378 | Baxter International, Inc. (b) | 1,056,288 | ||||||
| 21,539 | Becton, Dickinson & Co. | 3,567,289 | ||||||
| 116,204 | Boston Scientific Corp. (a) | 5,430,213 | ||||||
| 30,165 | DexCom, Inc. (a) | 2,517,269 | ||||||
| 10,526 | Dover Corp. | 2,153,830 | ||||||
| 45,012 | Edwards Lifesciences Corp. (a) | 3,874,183 | ||||||
| 19,330 | Estee Lauder Companies, Inc. Class A | 1,621,787 | ||||||
| 10,506 | Hasbro, Inc. | 986,934 | ||||||
| 5,416 | Insulet Corp. (a) | 895,536 | ||||||
| 27,688 | Intuitive Surgical, Inc. (a) | 9,783,001 | ||||||
| 188,193 | Johnson & Johnson | 48,243,276 | ||||||
| 100,374 | Medtronic PLC ADR (Ireland) | 8,570,936 | ||||||
| 11,342 | ResMed, Inc. | 2,392,935 | ||||||
| 11,508 | Solventum Corp. (a) | 983,243 | ||||||
| 7,670 | Steris PLC ADR (Ireland) | 1,751,828 | ||||||
| 26,978 | Stryker Corp. | 8,786,735 | ||||||
| 13,597 | Textron, Inc. (b) | 1,159,280 | ||||||
| 15,254 | The Cooper Companys, Inc. (a) | 1,103,169 | ||||||
| 15,123 | Zimmer Biomet Holdings, Inc. | 1,420,503 | ||||||
|
|
|
| ||||||
| 114,367,221 | ||||||||
|
|
|
| ||||||
| Motion Picture and Sound Recording Industries - 0.3% |
||||||||
| 329,191 | Netflix, Inc. (a) | 23,606,287 | ||||||
|
|
|
| ||||||
| Motor Vehicle and Parts Dealers - 0.2% |
||||||||
| 1,285 | AutoZone, Inc. (a) | 3,875,881 | ||||||
| 56,005 | Carvana Co. (a)(b) | 3,492,472 | ||||||
| 64,786 | O’Reilly Automotive, Inc. (a) | 5,788,629 | ||||||
|
|
|
| ||||||
| 13,156,982 | ||||||||
|
|
|
| ||||||
| National Security and International Affairs - 0.0% (†) |
||||||||
| 9,834 | Leidos Holdings, Inc. | 1,136,810 | ||||||
|
|
|
| ||||||
| Nonmetallic Mineral Product Manufacturing - 0.1% |
||||||||
| 61,231 | Corning, Inc. | 8,465,186 | ||||||
|
|
|
| ||||||
| Oil and Gas Extraction - 1.1% |
||||||||
| 27,634 | APA Corp. | 1,031,301 | ||||||
| 90,134 | Devon Energy Corp. | 4,067,747 | ||||||
| 15,174 | Diamondback Energy, Inc. | 3,079,563 | ||||||
| 41,637 | EOG Resources, Inc. | 6,191,006 | ||||||
| 48,902 | EQT Corp. | 2,605,988 | ||||||
| 18,703 | Expand Energy Corp. | 1,758,643 | ||||||
| 324,042 | ExxonMobil Holdings Corp. | 50,369,088 | ||||||
| 56,769 | Occidental Petroleum Corp. | 3,239,807 | ||||||
|
|
|
| ||||||
| 72,343,143 | ||||||||
|
|
|
| ||||||
| Paper Manufacturing - 0.0% (†) |
||||||||
| 6,923 | Packaging Corp of America | 1,701,950 | ||||||
|
|
|
| ||||||
| Performing Arts, Spectator Sports, and Related Industries - 0.1% |
||||||||
| 17,609 | Electronic Arts, Inc. | 3,695,425 | ||||||
|
|
|
| ||||||
| Petroleum and Coal Products Manufacturing - 0.5% |
||||||||
| 95,244 | ConocoPhillips | 11,474,997 | ||||||
| 22,823 | Marathon Petroleum Corp. | 7,222,795 | ||||||
| 31,342 | Phillips 66 | 6,634,474 | ||||||
| 23,211 | Valero Energy Corp. | 7,262,722 | ||||||
|
|
|
| ||||||
| 32,594,988 | ||||||||
|
|
|
| ||||||
| Pipeline Transportation - 0.2% |
||||||||
| 16,780 | Targa Resources Corp. | 4,536,809 | ||||||
| 95,612 | Williams Cos., Inc. | 6,840,082 | ||||||
|
|
|
| ||||||
| 11,376,891 | ||||||||
|
|
|
| ||||||
| Plastics and Rubber Products Manufacturing - 0.0% (†) |
||||||||
| 5,980 | Avery Dennison Corp. | 1,014,986 | ||||||
| 5,522 | West Pharmaceutical Services, Inc. | 1,882,781 | ||||||
|
|
|
| ||||||
| 2,897,767 | ||||||||
|
|
|
| ||||||
| Primary Metal Manufacturing - 0.2% |
||||||||
| 31,278 | Howmet Aerospace, Inc. | 8,828,529 | ||||||
| 10,601 | Steel Dynamics, Inc. | 2,663,607 | ||||||
|
|
|
| ||||||
| 11,492,136 | ||||||||
|
|
|
| ||||||
| Professional, Scientific, and Technical Services - 3.2% |
||||||||
| 47,997 | Accenture PLC Class A ADR (Ireland) | 7,963,662 | ||||||
| 21,038 | AppLovin Corp. (a) | 8,328,944 | ||||||
| 9,988 | CDW Corp. | 1,476,326 | ||||||
| 3,766 | Charles River Laboratories International, Inc. (a) | 875,633 | ||||||
| 11,056 | Ciena Corp. (a) | 4,168,665 | ||||||
| 37,044 | Cognizant Technology Solutions Corp. Class A | 2,050,385 | ||||||
| 30,360 | Eaton Corporation PLC ADR (Ireland) | 12,605,472 | ||||||
| 16,517 | Extra Space Storage, Inc. | 2,445,177 | ||||||
| 4,409 | F5 Networks, Inc. (a) | 1,774,931 | ||||||
| 10,351 | GoDaddy, Inc. (a) | 856,442 | ||||||
| 6,168 | IDEXX Laboratories, Inc. (a) | 3,448,344 | ||||||
| 41,398 | International Paper Co. | 1,690,280 | ||||||
| 13,048 | IQVIA Holdings, Inc. (a) | 3,066,541 | ||||||
| 5,553 | Jack Henry & Associates, Inc. (b) | 855,384 | ||||||
| 9,233 | Jacobs Solutions, Inc. | 1,245,809 | ||||||
| 171,687 | Meta Platforms, Inc. | 95,579,870 | ||||||
| 27,610 | Moderna, Inc. (a) | 1,513,580 | ||||||
| 22,274 | Omnicom Group, Inc. | 1,752,964 | ||||||
| 132,662 | Oracle Corp. | 17,228,814 | ||||||
| 179,506 | Palantir Technologies, Inc. (a) | 22,090,008 | ||||||
| 25,209 | Paychex, Inc. | 2,945,420 | ||||||
| 9,025 | PTC, Inc. (a) | 1,238,230 | ||||||
| 80,625 | ServiceNow, Inc. (a) | 8,967,919 | ||||||
| 13,609 | Take-Two Interactive Software, Inc. (a) | 3,305,898 | ||||||
| 33,380 | The Trade Desk, Inc. (a) | 602,175 | ||||||
| 6,403 | VeriSign, Inc. | 1,856,998 | ||||||
| 10,246 | Verisk Analytics, Inc. Class A | 1,996,433 | ||||||
| 15,922 | Workday, Inc. (a) | 2,552,933 | ||||||
|
|
|
| ||||||
| 214,483,237 | ||||||||
|
|
|
| ||||||
| Publishing Industries - 5.2% |
||||||||
| 31,598 | Adobe, Inc. (a) | 7,912,455 | ||||||
| 11,369 | Akamai Technologies, Inc. (a) | 1,309,481 | ||||||
| 16,507 | Autodesk, Inc. (a) | 3,865,939 | ||||||
| 41,840 | Block, Inc. (a) | 3,399,082 | ||||||
| 21,562 | Cadence Design Systems, Inc. (a) | 7,331,511 | ||||||
| 79,618 | CrowdStrike Holdings, Inc. (a) | 15,195,891 | ||||||
| 25,867 | Datadog, Inc. (a) | 6,931,580 | ||||||
| 1,815 | Fair Isaac Corp. (a) | 2,038,190 | ||||||
| 43,089 | Gen Digital, Inc. | 1,182,793 | ||||||
| 103,733 | Hewlett Packard Enterprise Co. | 4,968,811 | ||||||
| 21,619 | Intuit, Inc. | 6,833,117 | ||||||
| 580,748 | Microsoft Corp. | 269,885,211 | ||||||
| 28,526 | News Corp. Class A | 786,177 | ||||||
| 9,417 | News Corp. Class B (b) | 294,470 | ||||||
| 63,930 | Salesforce, Inc. | 11,764,399 | ||||||
| 14,975 | Synopsys, Inc. (a) | 5,821,681 | ||||||
| 3,298 | Tyler Technologies, Inc. (a) | 1,021,061 | ||||||
| 11,740 | Veeva Systems, Inc. (a) | 2,392,377 | ||||||
|
|
|
| ||||||
| 352,934,226 | ||||||||
|
|
|
| ||||||
| Rail Transportation - 0.3% |
||||||||
| 145,271 | CSX Corp. | 7,321,659 | ||||||
| 46,417 | Union Pacific Corp. | 13,559,798 | ||||||
|
|
|
| ||||||
| 20,881,457 | ||||||||
|
|
|
| ||||||
| Real Estate - 1.2% |
||||||||
| 12,263 | Alexandria Real Estate Equities, Inc. | 630,931 | ||||||
| 36,425 | American Tower Corp. | 6,314,638 | ||||||
| 10,859 | AvalonBay Communities, Inc. | 2,015,539 | ||||||
| 11,591 | BXP, Inc. | 812,761 | ||||||
| 7,855 | Camden Property Trust | 870,412 | ||||||
| 22,894 | CBRE Group, Inc. Class A (a) | 3,361,068 | ||||||
| 34,123 | Crown Castle, Inc. | 2,603,585 | ||||||
| 27,117 | Digital Realty Trust, Inc. | 5,112,097 | ||||||
| 26,655 | Equity Residential | 1,771,225 | ||||||
| 5,028 | Essex Property Trust, Inc. | 1,428,656 | ||||||
| 6,149 | Federal Realty Investment Trust | 763,029 | ||||||
| 53,895 | Healthpeak Properties, Inc. | 1,176,528 | ||||||
| 42,723 | Invitation Homes, Inc. | 1,269,728 | ||||||
| 52,724 | Kimco Realty Corp. | 1,343,407 | ||||||
| 9,101 | Mid-America Apartment Communities, Inc. | 1,204,426 | ||||||
| 72,888 | Prologis, Inc. | 10,540,334 | ||||||
| 12,348 | Public Storage | 4,002,851 | ||||||
| 72,903 | Realty Income Corp. (b) | 4,656,315 | ||||||
| 12,882 | Regency Centers Corp. | 1,034,296 | ||||||
| 25,351 | Simon Property Group, Inc. | 5,814,759 | ||||||
| 23,114 | UDR, Inc. | 882,030 | ||||||
| 38,012 | Ventas, Inc. (b) | 3,554,502 | ||||||
| 85,439 | VICI Properties, Inc. | 2,251,318 | ||||||
| 55,188 | Welltower, Inc. | 12,938,275 | ||||||
| 56,372 | Weyerhaeuser Co. | 1,410,991 | ||||||
|
|
|
| ||||||
| 77,763,701 | ||||||||
|
|
|
| ||||||
| Rental and Leasing Services - 0.1% |
||||||||
| 4,897 | United Rentals, Inc. | 5,285,136 | ||||||
|
|
|
| ||||||
| Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 2.0% |
||||||||
| 36,058 | Apollo Global Management, Inc. | 4,528,524 | ||||||
| 16,491 | Ares Management Corp. (b) | 2,112,332 | ||||||
| 11,308 | Blackrock, Inc. | 12,330,130 | ||||||
| 8,180 | Cboe Global Markets, Inc. | 2,537,681 | ||||||
| 127,797 | Charles Schwab Corp. | 13,449,356 | ||||||
| 28,328 | CME Group, Inc. | 7,585,955 | ||||||
| 52,241 | CRH PLC ADR (Ireland) | 4,963,417 | ||||||
| 56,349 | Dow, Inc. | 1,706,811 | ||||||
| 23,968 | Franklin Resources, Inc. | 811,557 | ||||||
| 23,064 | Goldman Sachs Group, Inc. | 23,487,916 | ||||||
| 34,829 | Interactive Brokers Group, Inc. Class A | 3,064,604 | ||||||
| 34,656 | Invesco Ltd. ADR | 1,025,818 | ||||||
| 54,047 | KKR & Co., Inc. | 5,481,987 | ||||||
| 93,715 | Morgan Stanley | 19,719,510 | ||||||
| 5,690 | MSCI, Inc. Class A | 3,256,046 | ||||||
| 34,930 | NASDAQ OMX Group, Inc. | 3,290,057 | ||||||
| 13,559 | Raymond James Financial, Inc. | 2,386,113 | ||||||
| 61,853 | Robinhood Markets, Inc. (a) | 5,353,996 | ||||||
| 23,703 | S&P Global, Inc. | 9,763,977 | ||||||
| 58,075 | The Blackstone Group, Inc. | 7,419,081 | ||||||
|
|
|
| ||||||
| 134,274,868 | ||||||||
|
|
|
| ||||||
| Specialty Trade Contractors - 0.2% |
||||||||
| 2,746 | Comfort Systems USA, Inc. | 4,749,729 | ||||||
| 3,473 | EMCOR Group, Inc. | 2,769,474 | ||||||
| 11,734 | Quanta Services, Inc. | 7,830,802 | ||||||
|
|
|
| ||||||
| 15,350,005 | ||||||||
|
|
|
| ||||||
| Support Activities for Agriculture and Forestry - 0.1% |
||||||||
| 52,289 | Corteva, Inc. | 4,115,667 | ||||||
|
|
|
| ||||||
| Support Activities for Mining - 0.1% |
||||||||
| 65,310 | Halliburton Co. | 2,106,248 | ||||||
| 116,882 | SLB Ltd. ADR | 5,796,178 | ||||||
|
|
|
| ||||||
| 7,902,426 | ||||||||
|
|
|
| ||||||
| Support Activities for Transportation - 0.2% |
||||||||
| 9,215 | C.H. Robinson Worldwide, Inc. | 1,361,332 | ||||||
| 8,950 | Expedia, Inc. | 2,637,923 | ||||||
| 10,229 | Expeditors International of Washington, Inc. | 1,717,347 | ||||||
| 5,824 | J.B. Hunt Transport Services, Inc. | 1,582,672 | ||||||
| 17,560 | Norfolk Southern Corp. | 5,891,029 | ||||||
|
|
|
| ||||||
| 13,190,303 | ||||||||
|
|
|
| ||||||
| Telecommunications - 0.7% |
||||||||
| 543,205 | AT&T, Inc. | 12,629,516 | ||||||
| 7,712 | Equinix, Inc. | 7,860,688 | ||||||
| 68,953 | PayPal Holdings, Inc. | 3,944,801 | ||||||
| 8,290 | SBA Communications Corp. | 1,500,324 | ||||||
| 36,382 | T-Mobile US, Inc. | 6,283,535 | ||||||
| 326,434 | Verizon Communications, Inc. | 15,280,376 | ||||||
|
|
|
| ||||||
| 47,499,240 | ||||||||
|
|
|
| ||||||
| Transportation Equipment Manufacturing - 2.0% |
||||||||
| 16,544 | Aptiv PLC ADR (a) | 934,240 | ||||||
| 61,630 | Boeing Co. (a) | 13,320,708 | ||||||
| 8,514 | Fedex Freight Holding Co., Inc. (a) | 1,196,472 | ||||||
| 305,979 | Ford Motor Co. | 4,491,772 | ||||||
| 19,844 | General Dynamics Corp. | 7,608,587 | ||||||
| 70,491 | General Motors Co. | 6,263,830 | ||||||
| 24,770 | Honeywell International, Inc. | 6,020,349 | ||||||
| 15,864 | Lockheed Martin Corp. | 9,244,587 | ||||||
| 41,148 | Paccar, Inc. | 5,459,517 | ||||||
| 220,097 | Tesla, Inc. (a) | 68,496,387 | ||||||
| 4,372 | TransDigm Group, Inc. | 5,484,149 | ||||||
| 13,263 | Wabtec Corp. | 3,857,676 | ||||||
|
|
|
| ||||||
| 132,378,274 | ||||||||
|
|
|
| ||||||
| Truck Transportation - 0.1% |
||||||||
| 24,770 | Honeywell Aerospace, Inc. (a) | 5,120,950 | ||||||
| 14,308 | Old Dominion Freight Line, Inc. | 3,035,299 | ||||||
|
|
|
| ||||||
| 8,156,249 | ||||||||
|
|
|
| ||||||
| Utilities - 2.1% |
||||||||
| 55,753 | AES Corp. | 818,454 | ||||||
| 20,189 | Alliant Energy Corp. (b) | 1,428,977 | ||||||
| 21,634 | Ameren Corp. | 2,371,303 | ||||||
| 42,538 | American Electric Power Co., Inc. | 5,438,483 | ||||||
| 15,267 | American Water Works Co., Inc. | 2,048,373 | ||||||
| 13,050 | Atmos Energy Corp. | 2,254,779 | ||||||
| 51,146 | CenterPoint Energy, Inc. (b) | 2,150,178 | ||||||
| 24,150 | CMS Energy Corp. | 1,738,559 | ||||||
| 28,814 | Consolidated Edison, Inc. | 3,136,404 | ||||||
| 24,994 | Constellation Energy Corp. | 6,567,174 | ||||||
| 68,759 | Dominion Energy, Inc. (b) | 4,756,060 | ||||||
| 16,263 | DTE Energy Co. | 2,307,232 | ||||||
| 60,947 | Duke Energy Corp. | 7,644,582 | ||||||
| 30,083 | Edison International | 2,207,190 | ||||||
| 35,797 | Entergy Corp. | 3,852,473 | ||||||
| 18,022 | Evergy, Inc. | 1,496,006 | ||||||
| 29,399 | Eversource Energy | 2,104,674 | ||||||
| 79,994 | Exelon Corp. | 3,665,325 | ||||||
| 40,699 | FirstEnergy Corp. | 1,966,169 | ||||||
| 21,011 | GE Vernova, Inc. | 20,806,983 | ||||||
| 153,065 | Kinder Morgan, Inc. | 4,925,632 | ||||||
| 163,032 | NextEra Energy, Inc. | 14,170,742 | ||||||
| 37,481 | NiSource, Inc. | 1,665,281 | ||||||
| 16,495 | NRG Energy, Inc. | 2,215,114 | ||||||
| 49,253 | ONEOK, Inc. | 4,472,665 | ||||||
| 172,169 | PG&E Corp. | 2,992,297 | ||||||
| 9,476 | Pinnacle West Capital Corp. (b) | 956,981 | ||||||
| 58,819 | PPL Corp. | 2,071,017 | ||||||
| 38,958 | Public Service Enterprise Group, Inc. | 2,987,299 | ||||||
| 51,103 | Sempra Energy | 4,525,171 | ||||||
| 88,136 | Southern Co. | 8,332,377 | ||||||
| 4,530 | Texas Pacific Land Corp. | 1,823,687 | ||||||
| 24,779 | Vistra Corp. | 3,672,000 | ||||||
| 25,465 | WEC Energy Group, Inc. | 2,786,380 | ||||||
| 48,810 | Xcel Energy, Inc. | 3,816,942 | ||||||
|
|
|
| ||||||
| 140,172,963 | ||||||||
|
|
|
| ||||||
| Waste Management and Remediation Services - 0.0% (†) |
||||||||
| 15,634 | Republic Services, Inc. | 3,291,739 | ||||||
|
|
|
| ||||||
| Water Transportation - 0.0% (†) |
||||||||
| 100,575 | Carnival Corp. Ltd. ADR | 2,796,991 | ||||||
|
|
|
| ||||||
| Web Search Portals, Libraries, Archives, and Other Information Services - 0.0% (†) |
||||||||
| 31,924 | CoStar Group, Inc. (a) | 918,134 | ||||||
|
|
|
| ||||||
| Wood Product Manufacturing - 0.0% (†) |
||||||||
| 15,772 | Masco Corp. | 1,127,383 | ||||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $4,356,031,370) | $ | 5,032,565,632 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 22.8% |
||||||||
| Money Market Funds - 22.8% |
||||||||
| 453,157,486 | Dreyfus Government Cash Management Institutional Shares, 3.56% (c)(d) | $ | 453,157,486 | |||||
| 687,136,486 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (c) | 687,136,486 | ||||||
| 257,175,221 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (c) | 257,175,221 | ||||||
| 139,000,000 | JPMorgan 100% U.S. Treasury Securities Money Market Fund Institutional Shares, 3.59% (c) | 139,000,000 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $1,536,469,193) | $ | 1,536,469,193 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $5,892,500,563) - 97.6% (e) | $ | 6,569,034,825 | ||||||
| Other Assets in Excess of Liabilities - 2.4% | 156,729,153 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 6,725,763,978 | ||||||
|
|
|
| ||||||
| Percentages are stated as a percent of net assets. | ||||||||
| The geographic location of all investments is United States unless otherwise indicated. | ||||||||
| (†) | Less than 0.005%. |
| (a) | Non-income producing security. |
| (b) | A portion of this security represents a security on loan. |
| (c) | Represents annualized seven-day yield at July 31, 2026. |
| (d) | All or a portion of this security represents an investment of securities lending collateral. |
| (e) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $2,292,688,891. |
ADR - American Depository Receipt
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation |
||||||||||||||
| Total return of S&P 500® Index |
SOFR + 0.8900% | BNP Paribas | 12/4/2026 | 289,960 | $ | 1,980,340,143 | $ | 166,026,553 | ||||||||||||
| Total return of S&P 500® Index |
SOFR + 0.8500% | Goldman Sachs | 12/10/2026 | 435,554 | 3,118,420,961 | 105,021,778 | ||||||||||||||
| Total return of S&P 500® Index |
SOFR + 0.8500% | Bank of America Merrill Lynch | 12/11/2026 | 407,919 | 2,883,801,529 | 132,745,873 | ||||||||||||||
| Total return of S&P 500® Index |
SOFR + 0.7800% | J.P. Morgan | 12/16/2026 | 390,000 | 2,677,105,969 | 194,346,536 | ||||||||||||||
| Total return of S&P 500® Index |
SOFR + 0.7900% | UBS Securities LLC | 12/17/2026 | 172,877 | 1,215,594,456 | 64,440,828 | ||||||||||||||
| Total return of S&P 500® Index |
SOFR + 0.9000% | Citibank N.A. | 12/22/2026 | 153,279 | 1,017,908,231 | 118,783,721 | ||||||||||||||
| Total return of S&P 500® Index |
SOFR + 0.9000% | Barclays | 12/22/2026 | 172,469 | 1,183,402,639 | 98,857,461 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 14,076,573,928 | $ | 880,222,750 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily S&P 500® High Beta Bear 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 104.0% |
||||||||
| Money Market Funds - 104.0% |
||||||||
| 10,941,934 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 10,941,934 | |||||
| 6,020,489 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 6,020,489 | ||||||
| 6,542,241 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 6,542,241 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $23,504,664) (b) | $ | 23,504,664 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $23,504,664) - 104.0% | $ | 23,504,664 | ||||||
| Liabilities in Excess of Other Assets - (4.0)% | (908,898) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 22,595,766 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $14,089,453. |
| Short Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date |
Contracts | Notional Amount | Unrealized Appreciation |
||||||||||||||
| SOFR + 0.8000% |
Total return of S&P 500® High Beta Index | Bank of America Merrill Lynch | 12/11/2026 | 272 | $ | 9,216,130 | $ | 266,739 | ||||||||||||
| SOFR + 0.5900% |
Total return of S&P 500® High Beta Index | J.P. Morgan | 12/16/2026 | 289 | 9,959,841 | 499,168 | ||||||||||||||
| SOFR + 0.0000% |
Total return of S&P 500® High Beta Index | UBS Securities LLC | 12/17/2026 | 302 | 10,178,152 | 268,227 | ||||||||||||||
| SOFR + 0.3500% |
Total return of S&P 500® High Beta Index | Citibank N.A. | 12/22/2026 | 348 | 11,978,384 | 542,510 | ||||||||||||||
| SOFR + 0.4500% |
Total return of S&P 500® High Beta Index | Barclays | 12/22/2026 | 844 | 29,099,094 | 1,333,462 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 70,431,601 | $ | 2,910,106 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily S&P 500® High Beta Bull 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 67.6% |
||||||||
| Administrative and Support Services - 0.7% |
||||||||
| 1,671 | Royal Caribbean Cruises Ltd. ADR (Liberia) | $ | 531,879 | |||||
|
|
|
| ||||||
| Air Transportation - 2.5% |
||||||||
| 7,396 | Delta Air Lines, Inc. | 646,706 | ||||||
| 9,943 | Southwest Airlines Co. | 447,137 | ||||||
| 6,411 | United Continental Holdings, Inc. (a) | 777,847 | ||||||
|
|
|
| ||||||
| 1,871,690 | ||||||||
|
|
|
| ||||||
| Apparel Manufacturing - 1.1% |
||||||||
| 3,876 | Deckers Outdoor Corp. (a) | 375,507 | ||||||
| 1,110 | Ralph Lauren Corp. | 422,177 | ||||||
|
|
|
| ||||||
| 797,684 | ||||||||
|
|
|
| ||||||
| Chemical Manufacturing - 1.2% |
||||||||
| 2,307 | Albemarle Corp. | 271,395 | ||||||
| 8,362 | Bio-Techne Corp. | 602,817 | ||||||
|
|
|
| ||||||
| 874,212 | ||||||||
|
|
|
| ||||||
| Clothing, Clothing Accessories, Shoe, and Jewelry Retailers - 0.5% |
||||||||
| 3,408 | Lululemon Athletica, Inc. (a) | 405,109 | ||||||
|
|
|
| ||||||
| Computer and Electronic Product Manufacturing - 22.2% |
||||||||
| 1,554 | Advanced Micro Devices, Inc. (a) | 739,937 | ||||||
| 3,356 | Amphenol Corp. Class A | 539,309 | ||||||
| 977 | Analog Devices, Inc. | 358,960 | ||||||
| 1,410 | Applied Materials, Inc. | 715,815 | ||||||
| 4,188 | Arista Networks, Inc. (a) | 755,306 | ||||||
| 1,311 | Broadcom, Inc. | 510,346 | ||||||
| 1,990 | Dell Technologies, Inc. | 806,686 | ||||||
| 1,809 | First Solar, Inc. (a) | 381,753 | ||||||
| 5,302 | Intel Corp. (a) | 478,240 | ||||||
| 1,318 | Jabil Circuit, Inc. | 415,236 | ||||||
| 1,317 | Keysight Technologies, Inc. (a) | 420,228 | ||||||
| 2,429 | Lam Research Corp. | 711,746 | ||||||
| 791 | Lumentum Holdings, Inc. (a) | 564,726 | ||||||
| 4,671 | Microchip Technology, Inc. | 347,009 | ||||||
| 1,053 | Micron Technology, Inc. | 866,651 | ||||||
| 393 | Monolithic Power Systems, Inc. | 560,430 | ||||||
| 2,364 | NVIDIA Corp. | 474,573 | ||||||
| 1,536 | NXP Semiconductors NV ADR (Netherlands) | 351,990 | ||||||
| 5,277 | ON Semiconductor Corp. (a) | 430,656 | ||||||
| 2,236 | Qualcomm, Inc. | 330,056 | ||||||
| 4,421 | Revvity, Inc. (b) | 497,451 | ||||||
| 692 | Sandisk Corp. (a) | 840,662 | ||||||
| 728 | Seagate Technology Holdings PLC ADR (Ireland) | 623,263 | ||||||
| 5,980 | Skyworks Solutions, Inc. (b) | 372,434 | ||||||
| 22,658 | Super Micro Computer, Inc. (a)(b) | 643,487 | ||||||
| 1,922 | Teradyne, Inc. | 706,700 | ||||||
| 6,516 | Trimble, Inc. (a) | 368,675 | ||||||
| 1,914 | Vertiv Holdings Co. | 462,365 | ||||||
| 1,338 | Western Digital Corp. | 728,996 | ||||||
| 2,279 | Zebra Technologies Corp. Class A (a) | 669,616 | ||||||
|
|
|
| ||||||
| 16,673,302 | ||||||||
|
|
|
| ||||||
| Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services - 0.8% |
||||||||
| 2,259 | Coherent Corp. (a) | 593,869 | ||||||
|
|
|
| ||||||
| Credit Intermediation and Related Activities - 3.3% |
||||||||
| 2,309 | Capital One Financial Corp. | 482,604 | ||||||
| 3,313 | Citigroup, Inc. | 438,807 | ||||||
| 4,552 | Coinbase Global, Inc. (a)(b) | 665,776 | ||||||
| 5,573 | Global Payments, Inc. (b) | 468,578 | ||||||
| 5,708 | Synchrony Financial | 432,609 | ||||||
|
|
|
| ||||||
| 2,488,374 | ||||||||
|
|
|
| ||||||
| Electrical Equipment, Appliance, and Component Manufacturing - 1.0% |
||||||||
| 2,882 | Emerson Electric Co. | 431,781 | ||||||
| 1,763 | Generac Holdings, Inc. (a) | 347,505 | ||||||
|
|
|
| ||||||
| 779,286 | ||||||||
|
|
|
| ||||||
| Fabricated Metal Product Manufacturing - 0.8% |
||||||||
| 6,268 | Stanley Black & Decker, Inc. (b) | 592,827 | ||||||
|
|
|
| ||||||
| Food Services and Drinking Places - 0.6% |
||||||||
| 2,432 | DoorDash, Inc. (a) | 477,061 | ||||||
|
|
|
| ||||||
| General Merchandise Retailers - 1.3% |
||||||||
| 1,547 | Amazon.com, Inc. (a) | 420,134 | ||||||
| 2,254 | Williams-Sonoma, Inc. | 515,400 | ||||||
|
|
|
| ||||||
| 935,534 | ||||||||
|
|
|
| ||||||
| Leather and Allied Product Manufacturing - 0.6% |
||||||||
| 2,891 | Tapestry, Inc. | 440,502 | ||||||
|
|
|
| ||||||
| Machinery Manufacturing - 1.6% |
||||||||
| 471 | Caterpillar, Inc. | 383,775 | ||||||
| 623 | Cummins, Inc. | 395,107 | ||||||
| 5,297 | Ingersoll Rand, Inc. | 441,664 | ||||||
|
|
|
| ||||||
| 1,220,546 | ||||||||
|
|
|
| ||||||
| Management of Companies and Enterprises - 0.9% |
||||||||
| 36,070 | Norwegian Cruise Line Holdings Ltd. ADR (a) | 668,377 | ||||||
|
|
|
| ||||||
| Merchant Wholesalers, Durable Goods - 1.9% |
||||||||
| 5,697 | Builders FirstSource, Inc. (a) | 378,509 | ||||||
| 3,420 | KLA-Tencor Corp. | 625,244 | ||||||
| 2,061 | TE Connectivity PLC ADR (Ireland) | 423,927 | ||||||
|
|
|
| ||||||
| 1,427,680 | ||||||||
|
|
|
| ||||||
| Mining (except Oil and Gas) - 0.7% |
||||||||
| 8,273 | Freeport-McMoRan Copper & Gold, Inc. | 518,138 | ||||||
|
|
|
| ||||||
| Miscellaneous Manufacturing - 1.2% |
||||||||
| 2,712 | Align Technology, Inc. (a) | 458,762 | ||||||
| 5,594 | Estee Lauder Companies, Inc. Class A | 469,337 | ||||||
|
|
|
| ||||||
| 928,099 | ||||||||
|
|
|
| ||||||
| Motor Vehicle and Parts Dealers - 0.7% |
||||||||
| 7,855 | Carvana Co. (a) | 489,838 | ||||||
|
|
|
| ||||||
| Nonmetallic Mineral Product Manufacturing - 0.5% |
||||||||
| 2,962 | Corning, Inc. | 409,497 | ||||||
|
|
|
| ||||||
| Professional, Scientific, and Technical Services - 5.5% |
||||||||
| 1,483 | AppLovin Corp. (a) | 587,120 | ||||||
| 2,375 | Charles River Laboratories International, Inc. (a) | 552,211 | ||||||
| 1,211 | Ciena Corp. (a) | 456,607 | ||||||
| 961 | Eaton Corporation PLC ADR (Ireland) | 399,007 | ||||||
| 667 | IDEXX Laboratories, Inc. (a) | 372,900 | ||||||
| 738 | Meta Platforms, Inc. | 410,852 | ||||||
| 10,501 | Moderna, Inc. (a)(b) | 575,665 | ||||||
| 2,372 | Oracle Corp. | 308,052 | ||||||
| 4,040 | Palantir Technologies, Inc. (a) | 497,162 | ||||||
|
|
|
| ||||||
| 4,159,576 | ||||||||
|
|
|
| ||||||
| Publishing Industries - 3.9% |
||||||||
| 7,600 | Block, Inc. (a) | 617,424 | ||||||
| 1,197 | Cadence Design Systems, Inc. (a) | 407,004 | ||||||
| 2,757 | Datadog, Inc. (a) | 738,793 | ||||||
| 15,272 | Hewlett Packard Enterprise Co. | 731,529 | ||||||
| 1,009 | Synopsys, Inc. (a) | 392,259 | ||||||
|
|
|
| ||||||
| 2,887,009 | ||||||||
|
|
|
| ||||||
| Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 6.7% |
||||||||
| 3,110 | Apollo Global Management, Inc. | 390,585 | ||||||
| 3,706 | Ares Management Corp. (b) | 474,702 | ||||||
| 3,352 | CRH PLC ADR (Ireland) | 318,473 | ||||||
| 442 | Goldman Sachs Group, Inc. | 450,124 | ||||||
| 6,321 | Interactive Brokers Group, Inc. Class A | 556,185 | ||||||
| 17,180 | Invesco Ltd. ADR | 508,528 | ||||||
| 4,753 | KKR & Co., Inc. | 482,097 | ||||||
| 2,002 | Morgan Stanley | 421,261 | ||||||
| 10,998 | Robinhood Markets, Inc. (a) | 951,987 | ||||||
| 3,443 | The Blackstone Group, Inc. | 439,843 | ||||||
|
|
|
| ||||||
| 4,993,785 | ||||||||
|
|
|
| ||||||
| Specialty Trade Contractors - 1.2% |
||||||||
| 310 | Comfort Systems USA, Inc. | 536,204 | ||||||
| 491 | EMCOR Group, Inc. | 391,538 | ||||||
|
|
|
| ||||||
| 927,742 | ||||||||
|
|
|
| ||||||
| Support Activities for Transportation - 0.7% |
||||||||
| 1,706 | Expedia, Inc. | 502,826 | ||||||
|
|
|
| ||||||
| Telecommunications - 0.7% |
||||||||
| 8,481 | PayPal Holdings, Inc. | 485,198 | ||||||
|
|
|
| ||||||
| Transportation Equipment Manufacturing - 1.2% |
||||||||
| 7,529 | Aptiv PLC ADR (a) | 425,162 | ||||||
| 1,465 | Tesla, Inc. (a) | 455,923 | ||||||
|
|
|
| ||||||
| 881,085 | ||||||||
|
|
|
| ||||||
| Truck Transportation - 0.5% |
||||||||
| 1,920 | Old Dominion Freight Line, Inc. | 407,309 | ||||||
|
|
|
| ||||||
| Utilities - 2.2% |
||||||||
| 1,293 | Constellation Energy Corp. | 339,736 | ||||||
| 451 | GE Vernova, Inc. | 446,621 | ||||||
| 3,508 | NRG Energy, Inc. | 471,089 | ||||||
| 2,875 | Vistra Corp. | 426,046 | ||||||
|
|
|
| ||||||
| 1,683,492 | ||||||||
|
|
|
| ||||||
| Water Transportation - 0.9% |
||||||||
| 23,394 | Carnival Corp. Ltd. ADR | 650,586 | ||||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $42,219,861) | $ | 50,702,112 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 36.0% |
||||||||
| Money Market Funds - 36.0% |
||||||||
| 6,002,873 | Dreyfus Government Cash Management Institutional Shares, 3.56% (c)(d) | $ | 6,002,873 | |||||
| 754,281 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (c) | 754,281 | ||||||
| 20,264,447 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (c) | 20,264,447 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $27,021,601) | $ | 27,021,601 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $69,241,462) - 103.6% (e) | $ | 77,723,713 | ||||||
| Liabilities in Excess of Other Assets - (3.6)% | (2,699,371) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 75,024,342 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | A portion of this security represents a security on loan. |
| (c) | Represents annualized seven-day yield at July 31, 2026. |
| (d) | All or a portion of this security represents an investment of securities lending collateral. |
| (e) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $55,298,490. |
ADR - American Depository Receipt
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||
| Total return of S&P 500® High Beta Index |
SOFR + 1.0000% | Bank of America Merrill Lynch | 12/11/2026 | 740 | $ | 24,811,754 | $ | (440,976) | ||||||||||
| Total return of S&P 500® High Beta Index |
SOFR + 0.8000% | J.P. Morgan | 12/16/2026 | 2,213 | 74,590,577 | (2,275,828) | ||||||||||||
| Total return of S&P 500® High Beta Index |
SOFR + 0.4300% | UBS Securities LLC | 12/17/2026 | 1,020 | 27,730,505 | 5,360,814 | ||||||||||||
| Total return of S&P 500® High Beta Index |
SOFR + 0.7700% | Citibank N.A. | 12/22/2026 | 773 | 21,552,050 | 3,552,193 | ||||||||||||
| Total return of S&P 500® High Beta Index |
SOFR + 0.6800% | Barclays | 12/22/2026 | 542 | 15,304,455 | 2,352,793 | ||||||||||||
|
|
|
|||||||||||||||||
| $ | 163,989,341 | $ | 8,548,996 | |||||||||||||||
|
|
|
|||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily S&P Biotech Bear 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 137.5% |
||||||||
| Money Market Funds - 137.5% |
||||||||
| 21,934,342 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 21,934,342 | |||||
| 9,771,117 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 9,771,117 | ||||||
| 14,257,306 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 14,257,306 | ||||||
| 28,588,202 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 28,588,202 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $74,550,967) (b) | $ | 74,550,967 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $74,550,967) - 137.5% | $ | 74,550,967 | ||||||
| Liabilities in Excess of Other Assets - (37.5)% | (20,341,267) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 54,209,700 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $56,955,168. |
| Short Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination |
Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||
| SOFR + 0.7500% |
Total return of S&P Biotechnology Select Industry Index | Goldman Sachs | 12/10/2026 | 1,388 | $ | 17,536,947 | $ | 1,613,605 | ||||||||||
| SOFR + 0.5000% |
Total return of S&P Biotechnology Select Industry Index | Bank of America Merrill Lynch | 12/11/2026 | 2,051 | 19,640,089 | (3,451,163) | ||||||||||||
| SOFR + 0.3900% |
Total return of S&P Biotechnology Select Industry Index | J.P. Morgan | 12/16/2026 | 3,569 | 38,108,638 | (2,645,602) | ||||||||||||
| SOFR + 0.3000% |
Total return of S&P Biotechnology Select Industry Index | UBS Securities LLC | 12/17/2026 | 1,189 | 11,190,285 | (2,230,070) | ||||||||||||
| SOFR + 0.2500% |
Total return of S&P Biotechnology Select Industry Index | Citibank N.A. | 12/22/2026 | 2,571 | 30,337,664 | 772,873 | ||||||||||||
| SOFR + 0.5300% |
Total return of S&P Biotechnology Select Industry Index | Barclays | 12/22/2026 | 3,360 | 37,515,761 | (842,235) | ||||||||||||
|
|
|
|||||||||||||||||
| $ | 154,329,384 | $ | (6,782,592) | |||||||||||||||
|
|
|
|||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily S&P Biotech Bull 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 67.1% |
||||||||
| Administrative and Support Services - 1.0% |
||||||||
| 215,077 | Hyperliquid Strategies, Inc. (a) | $ | 1,335,628 | |||||
| 13,627 | Inhibrx Biosciences, Inc. (a) | 1,118,096 | ||||||
| 97,971 | Tango Therapeutics, Inc. (a) | 2,662,852 | ||||||
|
|
|
| ||||||
| 5,116,576 | ||||||||
|
|
|
| ||||||
| Ambulatory Health Care Services - 2.0% |
||||||||
| 77,714 | ARS Pharmaceuticals, Inc. (a)(b) | 398,673 | ||||||
| 38,851 | CareDx, Inc. (a) | 1,698,177 | ||||||
| 15,588 | Natera, Inc. (a) | 4,173,843 | ||||||
| 167,199 | Ovid therapeutics, Inc. (a) | 371,182 | ||||||
| 22,009 | Sionna Therapeutics, Inc. (a)(b) | 1,037,284 | ||||||
| 50,707 | Veracyte, Inc. (a) | 2,348,748 | ||||||
|
|
|
| ||||||
| 10,027,907 | ||||||||
|
|
|
| ||||||
| Apparel Manufacturing - 0.2% |
||||||||
| 240,493 | Sana Biotechnology, Inc. (a) | 752,743 | ||||||
|
|
|
| ||||||
| Chemical Manufacturing - 43.9% |
||||||||
| 15,001 | AbbVie, Inc. | 3,764,351 | ||||||
| 134,777 | Acadia Pharmaceuticals Inc. (a) | 3,486,681 | ||||||
| 45,865 | Achieve Life Sciences, Inc. (a) | 294,453 | ||||||
| 264,044 | ADMA Biologics, Inc. (a) | 2,233,812 | ||||||
| 67,945 | Agios Pharmaceuticals, Inc. (a) | 2,039,709 | ||||||
| 76,970 | Alkermes PLC ADR (Ireland) (a) | 3,770,760 | ||||||
| 11,586 | Alnylam Pharmaceuticals, Inc. (a) | 2,381,155 | ||||||
| 275,123 | Altimmune, Inc. (a) | 781,349 | ||||||
| 9,994 | Amgen, Inc. | 3,849,289 | ||||||
| 124,896 | Arbutus Biopharma Corp. ADR (Canada) (a) | 542,049 | ||||||
| 87,676 | Arcus Biosciences, Inc. (a) | 2,471,586 | ||||||
| 98,745 | Arcutis Biotherapeutics, Inc. (a) | 2,652,291 | ||||||
| 47,707 | Arrowhead Pharmaceuticals, Inc. (a) | 4,038,398 | ||||||
| 68,958 | Avalo Therapeutics, Inc. (a) | 1,258,483 | ||||||
| 114,427 | Beam Therapeutics, Inc. (a)(b) | 2,920,177 | ||||||
| 37,261 | Bicara Therapeutics, Inc. (a) | 1,009,773 | ||||||
| 324,702 | BioCryst Pharmaceuticals, Inc. (a) | 2,915,824 | ||||||
| 17,370 | Biogen, Inc. (a) | 3,525,241 | ||||||
| 128,814 | Biohaven Ltd. ADR (a) | 1,738,989 | ||||||
| 60,076 | BioMarin Pharmaceutical, Inc. (a) | 3,605,762 | ||||||
| 27,634 | BridgeBio Oncology Therapeutics, Inc. (a) | 223,559 | ||||||
| 50,063 | BridgeBio Pharma, Inc. (a) | 4,009,546 | ||||||
| 73,804 | Capricor Therapeutics, Inc. (a) | 284,145 | ||||||
| 68,644 | Celldex Therapeutics, Inc. (a) | 2,612,591 | ||||||
| 107,533 | Cogent Biosciences, Inc. (a) | 4,186,260 | ||||||
| 232,413 | Compass Therapeutics, Inc. (a) | 443,909 | ||||||
| 99,617 | Corvus Pharmaceuticals, Inc. (a) | 1,320,921 | ||||||
| 270,617 | CytomX Therapeutics, Inc. (a) | 838,913 | ||||||
| 24,293 | Damora Therapeutics, Inc. ADR (a) | 704,254 | ||||||
| 117,771 | Denali Therapeutics, Inc. (a)(b) | 2,711,088 | ||||||
| 44,156 | Dianthus Therapeutics, Inc. (a)(b) | 4,721,160 | ||||||
| 57,978 | Emergent BioSolutions Inc. (a) | 418,601 | ||||||
| 31,615 | First Tracks Biotherapeutics, Inc. (a) | 1,392,325 | ||||||
| 741,331 | Geron Corp. (a) | 956,317 | ||||||
| 27,780 | Gilead Sciences, Inc. | 3,617,234 | ||||||
| 48,308 | GRAIL, Inc. (a) | 3,311,996 | ||||||
| 47,863 | Halozyme Therapeutics, Inc. (a) | 3,950,612 | ||||||
| 423,471 | ImmunityBio, Inc. (a)(b) | 3,036,287 | ||||||
| 101,669 | Immunome, Inc. (a) | 2,313,986 | ||||||
| 32,018 | Incyte Corp. (a) | 3,826,791 | ||||||
| 36,726 | Insmed, Inc. (a) | 3,621,184 | ||||||
| 195,077 | Intellia Therapeutics, Inc. (a) | 2,083,422 | ||||||
| 46,023 | Ionis Pharmaceuticals, Inc. (a) | 2,382,611 | ||||||
| 186,886 | Ironwood Pharmaceuticals, Inc. (a) | 790,528 | ||||||
| 52,113 | Jade Biosciences, Inc. (a) | 1,029,232 | ||||||
| 65,529 | Janux Therapeutics, Inc. (a) | 994,075 | ||||||
| 10,801 | Krystal Biotech, Inc. (a)(b) | 3,684,437 | ||||||
| 7,159 | Madrigal Pharmaceuticals, Inc. (a) | 3,345,544 | ||||||
| 289,432 | MannKind Corp. (a)(b) | 1,131,679 | ||||||
| 16,937 | MapLight Therapeutics, Inc. (a)(b) | 220,520 | ||||||
| 95,578 | Mineralys Therapeutics, Inc. (a)(b) | 2,439,151 | ||||||
| 35,899 | Mirum Pharmaceuticals, Inc. (a) | 3,803,499 | ||||||
| 71,823 | Monte Rosa Therapeutics, Inc. (a) | 1,186,516 | ||||||
| 102,468 | Myriad Genetics, Inc. (a) | 293,058 | ||||||
| 20,978 | Neurocrine Biosciences, Inc. (a) | 3,499,130 | ||||||
| 255,116 | Novavax, Inc. (a)(b) | 1,867,449 | ||||||
| 92,322 | Olema Pharmaceuticals, Inc. (a) | 1,057,087 | ||||||
| 110,953 | ORIC Pharmaceuticals, Inc. (a) | 1,228,250 | ||||||
| 52,700 | Oruka Therapeutics, Inc. (a)(b) | 5,086,077 | ||||||
| 49,385 | Prothena Corp. PLC ADR (Ireland) (a) | 401,006 | ||||||
| 46,006 | PTC Therapeutics, Inc. (a) | 3,128,868 | ||||||
| 5,608 | Regeneron Pharmaceuticals, Inc. | 4,276,829 | ||||||
| 66,560 | REGENXBIO, Inc. (a) | 644,966 | ||||||
| 93,330 | Replimune Group, Inc. (a) | 1,045,296 | ||||||
| 39,370 | Rhythm Pharmaceuticals, Inc. (a) | 3,907,472 | ||||||
| 22,093 | Rigel Pharmaceuticals, Inc. (a) | 813,243 | ||||||
| 118,777 | Roivant Sciences Ltd. ADR (Ireland) (a) | 4,027,728 | ||||||
| 151,157 | Sarepta Therapeutics, Inc. (a) | 2,246,193 | ||||||
| 108,602 | Savara, Inc. (a) | 592,967 | ||||||
| 76,534 | Scholar Rock Holding Corp. (a) | 3,619,676 | ||||||
| 293,250 | SELLAS Life Sciences Group, Inc. (a)(b) | 2,935,433 | ||||||
| 87,747 | Solid Biosciences, Inc. (a) | 707,241 | ||||||
| 44,942 | Spyre Therapeutics, Inc. (a)(b) | 4,419,147 | ||||||
| 53,472 | Stoke Therapeutics, Inc. (a) | 1,543,202 | ||||||
| 252,586 | Summit Therapeutics, Inc. (a)(b) | 3,288,670 | ||||||
| 119,538 | Syndax Pharmaceuticals, Inc. (a)(b) | 2,277,199 | ||||||
| 189,117 | Taysha Gene Therapies, Inc. (a) | 1,108,226 | ||||||
| 72,380 | TG Therapeutics, Inc. (a) | 3,765,931 | ||||||
| 72,196 | Travere Therapeutics, Inc. (a) | 4,035,034 | ||||||
| 49,791 | Twist Bioscience Corp. (a) | 4,558,366 | ||||||
| 47,312 | Tyra Biosciences, Inc. (a) | 1,508,307 | ||||||
| 124,269 | Ultragenyx Pharmaceutical, Inc. (a) | 3,095,541 | ||||||
| 81,217 | uniQure N.V. ADR (Netherlands) (a) | 3,543,498 | ||||||
| 6,202 | United Therapeutics Corp. (a) | 3,210,837 | ||||||
| 77,872 | Vanda Pharmaceuticals, Inc. (a) | 397,147 | ||||||
| 89,811 | Vera Therapeutics, Inc. (a) | 2,882,933 | ||||||
| 115,157 | Verastem, Inc. (a) | 667,911 | ||||||
| 40,581 | Vericel Corp. (a) | 1,865,103 | ||||||
| 7,744 | Vertex Pharmaceuticals, Inc. (a) | 3,694,662 | ||||||
| 121,599 | Viking Therapeutics, Inc. (a)(b) | 3,859,552 | ||||||
| 132,937 | Viridian Therapeutics, Inc. (a) | 2,515,168 | ||||||
| 65,912 | Xencor, Inc. (a)(b) | 1,332,082 | ||||||
| 45,855 | Zenas Biopharma, Inc. (a)(b) | 1,441,681 | ||||||
|
|
|
| ||||||
| 217,261,191 | ||||||||
|
|
|
| ||||||
| Merchant Wholesalers, Durable Goods - 0.7% |
||||||||
| 140,706 | Dyne Therapeutics, Inc. (a) | 3,542,977 | ||||||
|
|
|
| ||||||
| Merchant Wholesalers, Nondurable Goods - 2.7% |
||||||||
| 178,606 | Cabaletta Bio, Inc. (a) | 478,664 | ||||||
| 14,020 | Praxis Precision Medicines, Inc. (a) | 4,315,777 | ||||||
| 31,902 | Protagonist Therapeutics, Inc. (a) | 4,359,089 | ||||||
| 213,661 | Relay Therapeutics, Inc. (a) | 4,023,237 | ||||||
|
|
|
| ||||||
| 13,176,767 | ||||||||
|
|
|
| ||||||
| Miscellaneous Manufacturing - 0.3% |
||||||||
| 100,475 | MiMedx Group, Inc. (a) | 414,962 | ||||||
| 475,253 | Ocugen, Inc. (a)(b) | 584,561 | ||||||
| 137,152 | Perspective Therapeutics, Inc. (a) | 399,112 | ||||||
|
|
|
| ||||||
| 1,398,635 | ||||||||
|
|
|
| ||||||
| Professional, Scientific, and Technical Services - 14.7% |
||||||||
| 54,661 | 4D Molecular Therapeutics, Inc. (a) | 556,449 | ||||||
| 175,722 | Absci Corp. (a)(b) | 1,367,117 | ||||||
| 412,615 | Allogene Therapeutics, Inc. (a) | 775,716 | ||||||
| 26,728 | AnaptysBio, Inc. (a)(b) | 1,426,206 | ||||||
| 211,825 | Annexon, Inc. (a) | 1,079,248 | ||||||
| 40,796 | Apogee Therapeutics, Inc. (a) | 5,470,336 | ||||||
| 252,024 | Ardelyx, Inc. (a) | 1,247,519 | ||||||
| 29,803 | ArriVent Biopharma, Inc. (a) | 888,725 | ||||||
| 68,772 | Candel Therapeutics, Inc. (a) | 688,408 | ||||||
| 38,241 | Celcuity, Inc. (a) | 3,303,258 | ||||||
| 61,441 | CG Oncology, Inc. (a) | 4,373,985 | ||||||
| 68,253 | Crispr Therapeutics AG ADR (Switzerland) (a) | 3,275,461 | ||||||
| 80,791 | Cullinan Therapeutics, Inc. (a) | 1,333,052 | ||||||
| 50,312 | Cytokinetics, Inc. (a) | 3,880,565 | ||||||
| 252,386 | Erasca, Inc. (a) | 4,580,806 | ||||||
| 64,176 | Exelixis, Inc. (a) | 3,403,253 | ||||||
| 78,418 | IDEAYA Biosciences, Inc. (a) | 2,783,839 | ||||||
| 71,495 | Immix Biopharma, Inc. (a) | 594,838 | ||||||
| 50,808 | Kodiak Sciences, Inc. (a) | 2,112,597 | ||||||
| 104,499 | Kura Oncology, Inc. (a) | 941,536 | ||||||
| 43,133 | Kymera Therapeutics, Inc. (a)(b) | 4,459,952 | ||||||
| 82,556 | Lexeo Therapeutics, Inc. (a) | 340,956 | ||||||
| 73,372 | Moderna, Inc. (a) | 4,022,253 | ||||||
| 83,566 | Nurix Therapeutics, Inc. (a) | 1,939,567 | ||||||
| 13,887 | Palvella Therapeutics, Inc. (a)(b) | 1,930,848 | ||||||
| 240,763 | Precigen, Inc. (a)(b) | 1,509,584 | ||||||
| 177,588 | Prime Medicine, Inc. (a)(b) | 518,557 | ||||||
| 750,099 | Recursion Pharmaceuticals, Inc. (a)(b) | 2,250,297 | ||||||
| 23,402 | Revolution Medicines, Inc. (a) | 4,388,577 | ||||||
| 33,403 | Sagimet Biosciences, Inc. (a) | 237,495 | ||||||
| 74,294 | Vaxcyte, Inc. (a) | 4,017,820 | ||||||
| 168,048 | Vir Biotechnology, Inc. (a)(b) | 1,455,296 | ||||||
| 59,675 | Vor BioPharma, Inc. (a)(b) | 1,262,126 | ||||||
|
|
|
| ||||||
| 72,416,242 | ||||||||
|
|
|
| ||||||
| Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 1.2% |
||||||||
| 32,477 | Disc Medicine, Inc. (a) | 2,500,729 | ||||||
| 87,318 | Immunovant, Inc. (a) | 3,372,221 | ||||||
|
|
|
| ||||||
| 5,872,950 | ||||||||
|
|
|
| ||||||
| Support Activities for Transportation - 0.4% |
||||||||
| 492,493 | Iovance Biotherapeutics, Inc. (a) | 2,004,447 | ||||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS |
$ | 331,570,435 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 36.0% |
||||||||
| Money Market Funds - 36.0% |
||||||||
| 78,386,408 | Dreyfus Government Cash Management Institutional Shares, 3.56% (c)(d) | $ | 78,386,408 | |||||
| 26,472,640 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (c) | 26,472,640 | ||||||
| 73,297,612 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (c) | 73,297,612 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $178,156,660) | $ | 178,156,660 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $487,126,992) - 103.1% (e) | $ | 509,727,095 | ||||||
| Liabilities in Excess of Other Assets - (3.1)% | (15,359,319) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 494,367,776 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | A portion of this security represents a security on loan. |
| (c) | Represents annualized seven-day yield at July 31, 2026. |
| (d) | All or a portion of this security represents an investment of securities lending collateral. |
| (e) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $365,973,174. |
ADR - American Depository Receipt
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||
| Total return of S&P Biotechnology Select Industry Index |
SOFR + 0.6400% | BNP Paribas | 12/4/2026 | 2,129 | $ | 20,426,818 | $ | 3,494,657 | ||||||||||
| Total return of S&P Biotechnology Select Industry Index |
SOFR + 0.9500% | Goldman Sachs | 12/10/2026 | 1,388 | 13,096,266 | 2,502,802 | ||||||||||||
| Total return of S&P Biotechnology Select Industry Index |
SOFR + 0.7000% | Bank of America Merrill Lynch | 12/11/2026 | 23,421 | 228,850,994 | 36,070,022 | ||||||||||||
| Total return of S&P Biotechnology Select Industry Index |
SOFR + 0.6000% | J.P. Morgan | 12/16/2026 | 15,766 | 154,697,514 | 23,961,093 | ||||||||||||
| Total return of S&P Biotechnology Select Industry Index |
SOFR + 0.7000% | UBS Securities LLC | 12/17/2026 | 25,717 | 242,035,803 | 47,595,121 | ||||||||||||
| Total return of S&P Biotechnology Select Industry Index |
SOFR + 0.6400% | Citibank N.A. | 12/22/2026 | 7,004 | 83,237,191 | (2,650,729 | ) | |||||||||||
| Total return of S&P Biotechnology Select Industry Index |
SOFR + 0.7700% | Barclays | 12/22/2026 | 24,634 | 262,525,523 | 19,153,194 | ||||||||||||
|
|
|
|||||||||||||||||
| $ | 1,004,870,109 | $ | 130,126,160 | |||||||||||||||
|
|
|
|||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Semiconductor Bear 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 104.7% |
||||||||
| Money Market Funds - 104.7% |
||||||||
| 463,769,328 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 463,769,328 | |||||
| 844,834,335 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 844,834,335 | ||||||
| 151,885,261 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 151,885,261 | ||||||
| 229,043,209 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 229,043,209 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $1,689,532,133) (b) | $ | 1,689,532,133 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $1,689,532,133) - 104.7% | $ | 1,689,532,133 | ||||||
| Liabilities in Excess of Other Assets - (4.7)% | (75,942,480) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 1,613,589,653 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $1,541,727,723. |
| Short Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||
| SOFR + 0.1500% |
Total return of ICE Semiconductor Index | BNP Paribas | 12/4/2026 | 187,273 | $ | 423,767,877 | $ | (55,053,146) | ||||||||||
| SOFR + 2.3000% |
Total return of ICE Semiconductor Index | Goldman Sachs | 12/10/2026 | 857,391 | 2,094,684,737 | (112,717,471) | ||||||||||||
| SOFR + 0.7500% |
Total return of ICE Semiconductor Index | Bank of America Merrill Lynch | 12/11/2026 | 102,432 | 313,786,762 | 51,039,101 | ||||||||||||
| SOFR + 0.3300% |
Total return of ICE Semiconductor Index | Societe Generale | 12/14/2026 | 100,000 | 152,679,001 | (101,793,182) | ||||||||||||
| SOFR + 3.9000% |
Total return of ICE Semiconductor Index | J.P. Morgan | 12/16/2026 | 183,095 | 513,779,140 | 44,829,350 | ||||||||||||
| SOFR + 0.5000% |
Total return of ICE Semiconductor Index | UBS Securities LLC | 12/17/2026 | 69,919 | 127,885,347 | (50,264,353) | ||||||||||||
| SOFR + 2.7500% |
Total return of ICE Semiconductor Index | Citibank N.A. | 12/22/2026 | 85,650 | 258,559,031 | 40,050,297 | ||||||||||||
| SOFR + 4.0000% |
Total return of ICE Semiconductor Index | Barclays | 12/22/2026 | 294,349 | 787,928,265 | 31,551,574 | ||||||||||||
|
|
|
|||||||||||||||||
| $ | 4,673,070,160 | $ | (152,357,830) | |||||||||||||||
|
|
|
|||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Semiconductor Bull 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 68.9% |
||||||||
| Computer and Electronic Product Manufacturing - 62.6% |
||||||||
| 2,375,141 | Advanced Micro Devices, Inc. (a) | $ | 1,130,923,387 | |||||
| 1,480,973 | Analog Devices, Inc. | 544,124,290 | ||||||
| 1,361,891 | Applied Materials, Inc. | 691,391,204 | ||||||
| 4,597,230 | ASE Technology Holding Co., Ltd. ADR (Taiwan) (b) | 161,684,579 | ||||||
| 1,066,584 | Astera Labs, Inc. (a) | 331,952,938 | ||||||
| 2,743,814 | Broadcom, Inc. | 1,068,111,914 | ||||||
| 1,261,558 | Credo Technology Group Holding Ltd. ADR (a) | 261,129,891 | ||||||
| 7,731,162 | Intel Corp. (a) | 697,350,812 | ||||||
| 1,926,470 | Lam Research Corp. | 564,494,239 | ||||||
| 525,907 | MACOM Technology Solutions Holdings, Inc. (a) | 132,234,056 | ||||||
| 2,989,820 | Marvell Technology, Inc. | 560,770,639 | ||||||
| 4,052,400 | Microchip Technology, Inc. | 301,052,796 | ||||||
| 1,262,882 | Micron Technology, Inc. | 1,039,389,773 | ||||||
| 361,069 | Monolithic Power Systems, Inc. | 514,895,226 | ||||||
| 5,805,635 | NVIDIA Corp. | 1,165,481,226 | ||||||
| 1,906,766 | NXP Semiconductors NV ADR (Netherlands) | 436,954,497 | ||||||
| 2,971,361 | ON Semiconductor Corp. (a) | 242,492,771 | ||||||
| 2,441,168 | Qualcomm, Inc. | 360,340,809 | ||||||
| 818,275 | Rambus, Inc. (a) | 74,487,573 | ||||||
| 1,142,713 | Skyworks Solutions, Inc. | 71,168,166 | ||||||
| 1,797,257 | STMicroelectronics NV ADR (Netherlands) | 94,158,294 | ||||||
| 1,522,527 | Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) ADR | 615,481,540 | ||||||
| 1,185,557 | Teradyne, Inc. | 435,917,453 | ||||||
| 2,004,723 | Texas Instruments, Inc. | 552,782,320 | ||||||
| 6,372,415 | United Microelectronics Corp. ADR (Taiwan) | 121,267,058 | ||||||
|
|
|
| ||||||
| 12,170,037,451 | ||||||||
|
|
|
| ||||||
| Machinery Manufacturing - 2.1% |
||||||||
| 197,024 | ASML Holding NV ADR (Netherlands) | 320,952,096 | ||||||
| 242,031 | Nova Ltd. ADR (Israel) (a) | 94,602,657 | ||||||
|
|
|
| ||||||
| 415,554,753 | ||||||||
|
|
|
| ||||||
| Management of Companies and Enterprises - 0.5% |
||||||||
| 379,822 | ARM Holdings PLC ADR (United Kingdom) (a) | 91,039,535 | ||||||
|
|
|
| ||||||
| Merchant Wholesalers, Durable Goods - 3.7% |
||||||||
| 1,155,259 | Entegris, Inc. | 137,533,584 | ||||||
| 3,189,256 | KLA-Tencor Corp. | 583,059,782 | ||||||
|
|
|
| ||||||
| 720,593,366 | ||||||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $12,913,586,643) | $ | 13,397,225,105 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 55.5% |
||||||||
| Money Market Funds - 55.5% |
||||||||
| 1,304,618,929 | Dreyfus Government Cash Management Institutional Shares, 3.56% (c)(d) | $ | 1,304,618,929 | |||||
| 2,327,563,674 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (c) | 2,327,563,674 | ||||||
| 625,230,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (c) | 625,230,000 | ||||||
| 5,548,412,108 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (c) | 5,548,412,108 | ||||||
| 982,000,000 | JPMorgan 100% U.S. Treasury Securities Money Market Fund Institutional Shares, 3.59% (c) | 982,000,000 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $10,787,824,711) | $ | 10,787,824,711 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $23,701,411,354) - 124.4% (e) | $ | 24,185,049,816 | ||||||
| Liabilities in Excess of Other Assets - (24.4)% | (4,739,852,132) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 19,445,197,684 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | A portion of this security represents a security on loan. |
| (c) | Represents annualized seven-day yield at July 31, 2026. |
| (d) | All or a portion of this security represents an investment of securities lending collateral. |
| (e) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $10,293,740,819. |
ADR - American Depository Receipt
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
|
Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| Total return of ICE Semiconductor Index |
SOFR + 4.0000% | BNP Paribas | 12/4/2026 | 1,425,015 | $ | 3,198,054,298 | $ | 435,255,035 | ||||||||||||
| Total return of ICE Semiconductor Index |
SOFR + 4.0000% | Goldman Sachs | 12/10/2026 | 1,393,525 | 3,579,069,931 | 3,137,189 | ||||||||||||||
| Total return of ICE Semiconductor Index |
SOFR + 4.6500% | Bank of America Merrill Lynch | 12/11/2026 | 3,511,426 | 10,464,039,805 | (1,490,855,773) | ||||||||||||||
| Total return of common shares of ICE Semiconductor Index |
SOFR + 7.0000% | Nomura | 12/11/2026 | 665,000 | 1,920,386,915 | (233,976,579) | ||||||||||||||
| Total return of ICE Semiconductor Index |
SOFR + 0.5300% | Societe Generale | 12/14/2026 | 100,000 | 152,679,000 | 101,594,739 | ||||||||||||||
| Total return of ICE Semiconductor Index |
SOFR + 4.2500% | J.P. Morgan | 12/15/2026 | 3,712,455 | 11,122,269,042 | (1,652,396,856) | ||||||||||||||
| Total return of ICE Semiconductor Index |
SOFR + 0.9000% | UBS Securities LLC | 12/17/2026 | 1,152,148 | 2,487,254,879 | 450,077,961 | ||||||||||||||
| Total return of ICE Semiconductor Index |
SOFR + 7.0000% | Citibank N.A. | 12/22/2026 | 2,883,569 | 8,341,133,095 | (1,005,519,473) | ||||||||||||||
| Total return of ICE Semiconductor Index |
SOFR + 7.0000% | Barclays | 12/22/2026 | 2,609,522 | 7,308,158,387 | (640,290,801) | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 48,573,045,352 | $ | (4,032,974,558) | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Small Cap Bear 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 109.7% |
||||||||
| Money Market Funds - 109.7% |
||||||||
| 139,313,433 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 139,313,433 | |||||
| 37,790,000 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 37,790,000 | ||||||
| 20,244,210 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 20,244,210 | ||||||
| 58,572,468 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 58,572,468 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $255,920,111) (b) | $ | 255,920,111 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $255,920,111) - 109.7% | $ | 255,920,111 | ||||||
| Liabilities in Excess of Other Assets - (9.7)% | (22,589,712) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 233,330,399 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $154,289,685. |
| Short Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
|
Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||
| SOFR + 0.3400% |
Total return of Russell 2000® Index | BNP Paribas | 12/4/2026 | 38,121 | $ | 112,884,175 | $ | 1,263,088 | ||||||||||
| SOFR + 0.3000% |
Total return of Russell 2000® Index | Bank of America Merrill Lynch | 12/11/2026 | 22,822 | 63,730,221 | (2,752,613) | ||||||||||||
| SOFR + 0.2000% |
Total return of Russell 2000® Index | Societe Generale | 12/14/2026 | 51,000 | 130,124,307 | (17,199,511) | ||||||||||||
| SOFR + 0.3300% |
Total return of Russell 2000® Index | J.P. Morgan | 12/16/2026 | 29,283 | 81,087,246 | (4,175,009) | ||||||||||||
| SOFR + 0.2100% |
Total return of Russell 2000® Index | UBS Securities LLC | 12/17/2026 | 41,878 | 117,321,204 | (4,732,290) | ||||||||||||
| SOFR + 0.4000% |
Total return of Russell 2000® Index | Citibank N.A. | 12/22/2026 | 22,712 | 63,008,511 | (2,992,267) | ||||||||||||
| SOFR + 0.4100% |
Total return of Russell 2000® Index | Barclays | 12/22/2026 | 32,951 | 95,686,386 | (437,619) | ||||||||||||
|
|
|
|||||||||||||||||
| $ | 663,842,050 | $ | (31,026,221) | |||||||||||||||
|
|
|
|||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Small Cap Bull 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| INVESTMENT COMPANIES - 69.7% |
||||||||
| 3,171,986 | iShares Russell 2000 ETF (a)(b) | $ | 923,682,324 | |||||
|
|
|
| ||||||
| TOTAL INVESTMENT COMPANIES (Cost $738,776,091) | $ | 923,682,324 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 29.2% |
||||||||
| Money Market Funds - 29.2% |
||||||||
| 219,981,030 | Dreyfus Government Cash Management Institutional Shares, 3.56% (c)(d) | $ | 219,981,030 | |||||
| 21,050,000 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (c) | 21,050,000 | ||||||
| 83,075,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (c) | 83,075,000 | ||||||
| 62,567,043 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (c) | 62,567,043 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $386,673,073) | $ | 386,673,073 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $1,125,449,164) - 98.9% (e) | $ | 1,310,355,397 | ||||||
| Other Assets in Excess of Liabilities - 1.1% | 14,821,106 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 1,325,176,503 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Shareholders may obtain the financial statements of these investment companies at www.sec.gov. |
| (b) | A portion of this security represents a security on loan. |
| (c) | Represents annualized seven-day yield at July 31, 2026. |
| (d) | All or a portion of this security represents an investment of securities lending collateral. |
| (e) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $964,544,785. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
|
Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation |
||||||||||||
| Total return of Russell 2000® Index |
SOFR + 0.5900% | BNP Paribas | 12/4/2026 | 69,492 | $ | 190,103,560 | $ | 11,768,723 | ||||||||||
| Total return of Russell 2000® Index |
SOFR + 0.5000% | Bank of America Merrill Lynch | 12/11/2026 | 189,250 | 483,854,354 | 61,546,793 | ||||||||||||
| Total return of Russell 2000® Index |
SOFR + 0.4100% | Societe Generale | 12/14/2026 | 55,000 | 140,330,136 | 18,361,078 | ||||||||||||
| Total return of Russell 2000® Index |
SOFR + 0.6000% | J.P. Morgan | 12/16/2026 | 203,307 | 532,226,264 | 55,366,957 | ||||||||||||
| Total return of Russell 2000® Index |
SOFR + 0.6400% | UBS Securities LLC | 12/17/2026 | 62,824 | 156,575,941 | 24,594,041 | ||||||||||||
| Total return of Russell 2000® Index |
SOFR + 0.6500% | Citibank N.A. | 12/22/2026 | 233,257 | 588,411,422 | 85,967,062 | ||||||||||||
| Total return of Russell 2000® Index |
SOFR + 0.6500% | Barclays | 12/22/2026 | 227,979 | 600,928,319 | 61,324,241 | ||||||||||||
|
|
|
|||||||||||||||||
| $ | 2,692,429,996 | $ | 318,928,895 | |||||||||||||||
|
|
|
|||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Technology Bear 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| SHORT TERM INVESTMENTS - 109.6% |
||||||||
| Money Market Funds - 109.6% |
||||||||
| 35,276,336 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 35,276,336 | |||||
| 13,836,442 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 13,836,442 | ||||||
| 13,188,704 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 13,188,704 | ||||||
| 18,136,462 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 18,136,462 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $80,437,944) (b) | $ | 80,437,944 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $80,437,944) - 109.6% | $ | 80,437,944 | ||||||
| Liabilities in Excess of Other Assets - (9.6)% | (7,022,569) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 73,415,375 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $61,355,065. |
| Short Total Return Swap Contracts (Unaudited) |
July 31, 2026
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| SOFR + 0.3500% |
Total return of Technology Select Sector Index | BNP Paribas | 12/4/2026 | 10,763 | $ | 33,738,975 | $ | (3,940,571 | ) | |||||||||||
| SOFR + 0.7500% |
Total return of Technology Select Sector Index | Goldman Sachs | 12/10/2026 | 10,716 | 36,176,061 | (1,267,120 | ) | |||||||||||||
| SOFR + 0.5000% |
Total return of Technology Select Sector Index | Bank of America Merrill Lynch | 12/11/2026 | 5,696 | 21,008,583 | 979,173 | ||||||||||||||
| SOFR + 0.3300% |
Total return of Technology Select Sector Index | Societe Generale | 12/14/2026 | 5,000 | 14,459,601 | (2,886,550 | ) | |||||||||||||
| SOFR + 0.6000% |
Total return of Technology Select Sector Index | J.P. Morgan | 12/16/2026 | 4,397 | 12,593,140 | (2,645,607 | ) | |||||||||||||
| SOFR + 0.4500% |
Total return of Technology Select Sector Index | UBS Securities LLC | 12/17/2026 | 2,396 | 6,720,109 | (1,597,669 | ) | |||||||||||||
| SOFR + 0.6600% |
Total return of Technology Select Sector Index | Citibank N.A. | 12/22/2026 | 8,058 | 26,570,199 | (1,650,981 | ) | |||||||||||||
| SOFR + 0.6000% |
Total return of Technology Select Sector Index | Barclays | 12/22/2026 | 15,353 | 52,151,656 | (2,039,549 | ) | |||||||||||||
|
|
|
|||||||||||||||||||
| $ | 203,418,324 | $ | (15,048,874 | ) | ||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Technology Bull 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 68.5% |
||||||||
| Administrative and Support Services - 0.2% |
||||||||
| 16,359 | Gartner, Inc. (a) | $ | 2,470,536 | |||||
| 51,142 | Qnity Electronics, Inc. | 6,708,808 | ||||||
|
|
|
| ||||||
| 9,179,344 | ||||||||
|
|
|
| ||||||
| Computer and Electronic Product Manufacturing - 50.3% |
||||||||
| 310,864 | Advanced Micro Devices, Inc. (a) | 148,017,894 | ||||||
| 300,545 | Amphenol Corp. Class A | 48,297,581 | ||||||
| 119,267 | Analog Devices, Inc. | 43,819,888 | ||||||
| 1,469,543 | Apple, Inc. | 453,956,528 | ||||||
| 193,880 | Applied Materials, Inc. | 98,427,060 | ||||||
| 252,254 | Arista Networks, Inc. (a) | 45,494,009 | ||||||
| 473,725 | Broadcom, Inc. | 184,411,668 | ||||||
| 964,954 | Cisco Systems, Inc. | 111,925,014 | ||||||
| 70,668 | Dell Technologies, Inc. | 28,646,687 | ||||||
| 26,251 | First Solar, Inc. (a) | 5,539,749 | ||||||
| 89,825 | Flex Ltd. ADR (Singapore) (a) | 10,217,594 | ||||||
| 152,138 | Fortinet, Inc. (a) | 24,638,749 | ||||||
| 223,422 | HP, Inc. | 6,092,718 | ||||||
| 1,154,174 | Intel Corp. (a) | 104,106,495 | ||||||
| 229,614 | International Business Machines Corp. | 51,353,171 | ||||||
| 25,774 | Jabil Circuit, Inc. | 8,120,099 | ||||||
| 41,896 | Keysight Technologies, Inc. (a) | 13,368,176 | ||||||
| 305,515 | Lam Research Corp. | 89,522,005 | ||||||
| 19,008 | Lumentum Holdings, Inc. (a) | 13,570,572 | ||||||
| 213,899 | Marvell Technology, Inc. | 40,118,896 | ||||||
| 132,199 | Microchip Technology, Inc. | 9,821,064 | ||||||
| 155,381 | Micron Technology, Inc. | 127,883,224 | ||||||
| 12,001 | Monolithic Power Systems, Inc. | 17,113,786 | ||||||
| 40,554 | Motorola Solutions, Inc. | 17,671,405 | ||||||
| 48,208 | NetApp, Inc. | 8,605,128 | ||||||
| 2,423,386 | NVIDIA Corp. | 486,494,740 | ||||||
| 61,678 | NXP Semiconductors NV ADR (Netherlands) | 14,134,130 | ||||||
| 95,739 | ON Semiconductor Corp. (a) | 7,813,260 | ||||||
| 198,124 | Palo Alto Networks, Inc. (a) | 65,743,487 | ||||||
| 257,491 | Qualcomm, Inc. | 38,008,247 | ||||||
| 24,653 | Roper Technologies, Inc. | 9,663,236 | ||||||
| 36,183 | Sandisk Corp. (a) | 43,956,194 | ||||||
| 54,784 | Seagate Technology Holdings PLC ADR (Ireland) | 46,902,226 | ||||||
| 36,740 | Skyworks Solutions, Inc. (b) | 2,288,167 | ||||||
| 137,491 | Super Micro Computer, Inc. (a)(b) | 3,904,744 | ||||||
| 11,317 | Teledyne Technologies, Inc. (a) | 7,419,086 | ||||||
| 38,242 | Teradyne, Inc. | 14,061,201 | ||||||
| 222,339 | Texas Instruments, Inc. | 61,307,756 | ||||||
| 56,945 | Trimble, Inc. (a) | 3,221,948 | ||||||
| 84,204 | Western Digital Corp. | 45,877,707 | ||||||
| 11,635 | Zebra Technologies Corp. Class A (a)(b) | 3,418,596 | ||||||
|
|
|
| ||||||
| 2,564,953,885 | ||||||||
|
|
|
| ||||||
| Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services - 0.3% |
||||||||
| 47,794 | Coherent Corp. (a) | 12,564,565 | ||||||
|
|
|
| ||||||
| Merchant Wholesalers, Durable Goods - 1.4% |
||||||||
| 319,119 | KLA-Tencor Corp. | 58,341,335 | ||||||
| 71,313 | TE Connectivity PLC ADR (Ireland) | 14,668,371 | ||||||
|
|
|
| ||||||
| 73,009,706 | ||||||||
|
|
|
| ||||||
| Nonmetallic Mineral Product Manufacturing - 0.5% |
||||||||
| 191,327 | Corning, Inc. | 26,450,958 | ||||||
|
|
|
| ||||||
| Professional, Scientific, and Technical Services - 4.4% |
||||||||
| 149,986 | Accenture PLC Class A ADR (Ireland) | 24,885,677 | ||||||
| 31,210 | CDW Corp. | 4,613,150 | ||||||
| 34,544 | Ciena Corp. (a) | 13,024,815 | ||||||
| 115,766 | Cognizant Technology Solutions Corp. Class A | 6,407,648 | ||||||
| 13,783 | F5 Networks, Inc. (a) | 5,548,622 | ||||||
| 32,346 | GoDaddy, Inc. (a) | 2,676,308 | ||||||
| 414,545 | Oracle Corp. | 53,836,959 | ||||||
| 560,931 | Palantir Technologies, Inc. (a) | 69,028,169 | ||||||
| 28,217 | PTC, Inc. (a) | 3,871,373 | ||||||
| 251,944 | ServiceNow, Inc. (a) | 28,023,731 | ||||||
| 20,010 | VeriSign, Inc. | 5,803,300 | ||||||
| 49,764 | Workday, Inc. (a) | 7,979,160 | ||||||
|
|
|
| ||||||
| 225,698,912 | ||||||||
|
|
|
| ||||||
| Publishing Industries - 11.4% |
||||||||
| 98,744 | Adobe, Inc. (a) | 24,726,485 | ||||||
| 35,512 | Akamai Technologies, Inc. (a) | 4,090,272 | ||||||
| 51,582 | Autodesk, Inc. (a) | 12,080,504 | ||||||
| 67,381 | Cadence Design Systems, Inc. (a) | 22,910,888 | ||||||
| 248,732 | CrowdStrike Holdings, Inc. (a) | 47,472,990 | ||||||
| 80,819 | Datadog, Inc. (a) | 21,657,067 | ||||||
| 5,665 | Fair Isaac Corp. (a) | 6,361,625 | ||||||
| 134,643 | Gen Digital, Inc. | 3,695,950 | ||||||
| 324,153 | Hewlett Packard Enterprise Co. | 15,526,929 | ||||||
| 67,560 | Intuit, Inc. | 21,353,689 | ||||||
| 743,254 | Microsoft Corp. | 345,404,999 | ||||||
| 199,846 | Salesforce, Inc. | 36,775,661 | ||||||
| 46,800 | Synopsys, Inc. (a) | 18,193,968 | ||||||
| 10,302 | Tyler Technologies, Inc. (a) | 3,189,500 | ||||||
|
|
|
| ||||||
| 583,440,527 | ||||||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $2,470,166,916) | $ | 3,495,297,897 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 32.5% |
||||||||
| Money Market Funds - 32.5% |
||||||||
| 723,212,090 | Dreyfus Government Cash Management Institutional Shares, 3.56% (c)(d) | $ | 723,212,090 | |||||
| 320,393,766 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (c) | 320,393,766 | ||||||
| 61,350,000 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (c) | 61,350,000 | ||||||
| 192,188,158 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (c) | 192,188,158 | ||||||
| 360,000,000 | JPMorgan 100% U.S. Treasury Securities Money Market Fund Institutional Shares, 3.59% (c) | 360,000,000 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $1,657,144,014) | $ | 1,657,144,014 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $4,127,310,930) - 101.0% (e) | $ | 5,152,441,911 | ||||||
| Liabilities in Excess of Other Assets - (1.0)% | (50,924,671) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 5,101,517,240 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | A portion of this security represents a security on loan. |
| (c) | Represents annualized seven-day yield at July 31, 2026. |
| (d) | All or a portion of this security represents an investment of securities lending collateral. |
| (e) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $1,942,602,663. |
ADR - American Depository Receipt
| Long Total Return Swap Contracts (Unaudited) |
July 31, 2026
|
Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| Total return of Technology Select Sector Index |
SOFR + 0.9000% | BNP Paribas | 12/4/2026 | 428,129 | $ | 1,189,654,715 | $ | 305,690,956 | ||||||||||||
| Total return of Technology Select Sector Index |
SOFR + 0.9500% | Goldman Sachs | 12/10/2026 | 563,084 | 1,656,541,018 | 294,109,562 | ||||||||||||||
| Total return of Technology Select Sector Index |
SOFR + 1.5000% | Bank of America Merrill Lynch | 12/11/2026 | 626,896 | 2,110,516,683 | 85,857,592 | ||||||||||||||
| Total return of Technology Select Sector Index |
SOFR + 0.7400% | Societe Generale | 12/14/2026 | 100,000 | 289,191,999 | 56,936,487 | ||||||||||||||
| Total return of Technology Select Sector Index |
SOFR + 0.8000% | J.P. Morgan | 12/16/2026 | 83,667 | 239,624,798 | 50,051,414 | ||||||||||||||
| Total return of Technology Select Sector Index |
SOFR + 0.8500% | UBS Securities LLC | 12/17/2026 | 571,366 | 1,822,926,777 | 175,571,596 | ||||||||||||||
| Total return of Technology Select Sector Index |
SOFR + 1.0000% | Citibank N.A. | 12/22/2026 | 451,379 | 1,313,006,897 | 250,081,530 | ||||||||||||||
| Total return of Technology Select Sector Index |
SOFR + 0.8500% | Barclays | 12/22/2026 | 520,487 | 1,892,548,924 | (60,403,579 | ) | |||||||||||||
|
|
|
|||||||||||||||||||
| $ | 10,514,011,811 | $ | 1,157,895,558 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Transportation Bull 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 44.2% |
||||||||
| Administrative and Support Services - 6.5% |
||||||||
| 1,637 | RXO, Inc. (a) | $ | 33,149 | |||||
| 15,855 | Uber Technologies, Inc. (a) | 1,115,558 | ||||||
|
|
|
| ||||||
| 1,148,707 | ||||||||
|
|
|
| ||||||
| Air Transportation - 7.1% |
||||||||
| 1,107 | Alaska Air Group, Inc. (a) | 52,527 | ||||||
| 223 | Allegiant Travel Co. (a) | 21,872 | ||||||
| 6,565 | American Airlines Group, Inc. (a) | 100,248 | ||||||
| 4,484 | Delta Air Lines, Inc. | 392,081 | ||||||
| 844 | Frontier Group Holdings, Inc. (a) | 5,697 | ||||||
| 2,955 | JetBlue Airways Corp. (a) | 17,819 | ||||||
| 394 | SkyWest, Inc. (a) | 42,146 | ||||||
| 4,851 | Southwest Airlines Co. | 218,149 | ||||||
| 3,222 | United Continental Holdings, Inc. (a) | 390,925 | ||||||
|
|
|
| ||||||
| 1,241,464 | ||||||||
|
|
|
| ||||||
| Couriers and Messengers - 4.4% |
||||||||
| 1,073 | FedEx Corp. | 329,840 | ||||||
| 4,204 | United Parcel Service, Inc. Class B | 438,141 | ||||||
|
|
|
| ||||||
| 767,981 | ||||||||
|
|
|
| ||||||
| Management of Companies and Enterprises - 0.4% |
||||||||
| 998 | U-Haul Holding Co. | 62,455 | ||||||
|
|
|
| ||||||
| Merchant Wholesalers, Nondurable Goods - 0.0% |
||||||||
| 1,173 | FTAI Infrastructure, Inc. | 4,375 | ||||||
|
|
|
| ||||||
| Rail Transportation - 11.8% |
||||||||
| 14,473 | CSX Corp. | 729,439 | ||||||
| 4,625 | Union Pacific Corp. | 1,351,102 | ||||||
|
|
|
| ||||||
| 2,080,541 | ||||||||
|
|
|
| ||||||
| Rental and Leasing Services - 0.7% |
||||||||
| 168 | Avis Budget Group, Inc. (a) | 23,090 | ||||||
| 1,254 | Hertz Global Holdings, Inc. (a) | 1,988 | ||||||
| 384 | Ryder System, Inc. | 98,465 | ||||||
|
|
|
| ||||||
| 123,543 | ||||||||
|
|
|
| ||||||
| Support Activities for Transportation - 7.7% |
||||||||
| 1,170 | C.H. Robinson Worldwide, Inc. | 172,844 | ||||||
| 1,299 | Expeditors International of Washington, Inc. | 218,089 | ||||||
| 1,142 | GXO Logistics, Inc. (a) | 57,283 | ||||||
| 601 | Hub Group, Inc. | 27,964 | ||||||
| 739 | J.B. Hunt Transport Services, Inc. | 200,823 | ||||||
| 301 | Matson, Inc. | 60,980 | ||||||
| 1,110 | Norfolk Southern Corp. | 372,383 | ||||||
| 1,165 | XPO, Inc. (a) | 234,130 | ||||||
|
|
|
| ||||||
| 1,344,496 | ||||||||
|
|
|
| ||||||
| Transit and Ground Passenger Transportation - 0.3% |
||||||||
| 3,769 | Lyft, Inc. (a) | 59,776 | ||||||
|
|
|
| ||||||
| Transportation Equipment Manufacturing - 1.1% |
||||||||
| 1,079 | Fedex Freight Holding Co., Inc. (a) | 151,632 | ||||||
| 6,151 | Joby Aviation, Inc. (a) | 43,980 | ||||||
|
|
|
| ||||||
| 195,612 | ||||||||
|
|
|
| ||||||
| Truck Transportation - 3.4% |
||||||||
| 221 | ArcBest Corp. | 31,901 | ||||||
| 150 | Covenant Logistics Group Inc. | 5,328 | ||||||
| 454 | Heartland Express, Inc. | 5,552 | ||||||
| 1,613 | Knight-Swift Transportation Holdings, Inc. Class A | 112,152 | ||||||
| 574 | Marten Transport Ltd. | 8,489 | ||||||
| 1,454 | Old Dominion Freight Line, Inc. | 308,452 | ||||||
| 265 | Saia, Inc. (a) | 92,122 | ||||||
| 493 | Schneider National, Inc. | 17,620 | ||||||
| 595 | Werner Enterprises, Inc. | 22,265 | ||||||
|
|
|
| ||||||
| 603,881 | ||||||||
|
|
|
| ||||||
| Warehousing and Storage - 0.3% |
||||||||
| 337 | Landstar System, Inc. | 58,898 | ||||||
|
|
|
| ||||||
| Water Transportation - 0.5% |
||||||||
| 380 | Genco Shipping & Trading Ltd. ADR | 9,705 | ||||||
| 530 | Kirby Corp. (a) | 69,504 | ||||||
|
|
|
| ||||||
| 79,209 | ||||||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $6,191,777) | $ | 7,770,938 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 53.7% |
||||||||
| Money Market Funds - 53.7% |
||||||||
| 4,177,818 | Dreyfus Government Cash Management Institutional Shares, 3.56% (c)(d) | $ | 4,177,818 | |||||
| 2,210,652 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (c) | 2,210,652 | ||||||
| 2,940,658 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (c) | 2,940,658 | ||||||
| 116,727 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (c) | 116,727 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $9,445,855) | $ | 9,445,855 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $15,637,632) - 97.9% (e) | $ | 17,216,793 | ||||||
| Other Assets in Excess of Liabilities - 2.1% | 361,217 | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 17,578,010 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Non-income producing security. |
| (b) | A portion of this security represents a security on loan. |
| (c) | Represents annualized seven-day yield at July 31, 2026. |
| (d) | All or a portion of this security represents an investment of securities lending collateral. |
| (e) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $13,090,466. |
ADR - American Depository Receipt
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination | Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||
| Total return of S&P Transportation Select Industry FMC Capped Index |
SOFR + 0.8500% | Goldman Sachs | 12/10/2026 | 2,058 | $ | 15,937,708 | $ | (1,866) | ||||||||
| Total return of S&P Transportation Select Industry FMC Capped Index |
SOFR + 0.8000% | UBS Securities LLC | 12/17/2026 | 998 | 7,856,468 | (158,631) | ||||||||||
| Total return of S&P Transportation Select Industry FMC Capped Index |
SOFR + 0.9500% | Citibank N.A. | 12/22/2026 | 207 | 1,414,552 | 158,591 | ||||||||||
| Total return of S&P Transportation Select Industry FMC Capped Index |
SOFR + 0.7000% | Barclays | 12/22/2026 | 2,542 | 19,686,622 | (2,959) | ||||||||||
|
|
|
|||||||||||||||
| $ | 44,895,350 | $ | (4,865) | |||||||||||||
|
|
|
|||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
| Direxion Daily Utilities Bull 3X ETF |
| Schedule of Investments (Unaudited) |
| July 31, 2026 |
| Shares |
Fair Value | |||||||
| COMMON STOCKS - 77.5% |
||||||||
| Utilities - 77.5% |
||||||||
| 15,130 | AES Corp. | $ | 222,108 | |||||
| 5,479 | Alliant Energy Corp. | 387,804 | ||||||
| 5,872 | Ameren Corp. | 643,630 | ||||||
| 11,544 | American Electric Power Co., Inc. | 1,475,900 | ||||||
| 4,143 | American Water Works Co., Inc. | 555,866 | ||||||
| 3,542 | Atmos Energy Corp. | 611,987 | ||||||
| 13,879 | CenterPoint Energy, Inc. | 583,473 | ||||||
| 6,554 | CMS Energy Corp. | 471,822 | ||||||
| 7,819 | Consolidated Edison, Inc. | 851,098 | ||||||
| 6,782 | Constellation Energy Corp. | 1,781,971 | ||||||
| 18,659 | Dominion Energy, Inc. | 1,290,643 | ||||||
| 4,413 | DTE Energy Co. | 626,072 | ||||||
| 16,541 | Duke Energy Corp. | 2,074,738 | ||||||
| 8,165 | Edison International | 599,066 | ||||||
| 9,715 | Entergy Corp. | 1,045,528 | ||||||
| 4,891 | Evergy, Inc. | 406,002 | ||||||
| 7,979 | Eversource Energy | 571,217 | ||||||
| 21,708 | Exelon Corp. | 994,661 | ||||||
| 11,045 | FirstEnergy Corp. | 533,584 | ||||||
| 44,244 | NextEra Energy, Inc. | 3,845,688 | ||||||
| 10,172 | NiSource, Inc. | 451,942 | ||||||
| 4,476 | NRG Energy, Inc. | 601,082 | ||||||
| 46,724 | PG&E Corp. | 812,063 | ||||||
| 2,572 | Pinnacle West Capital Corp. | 259,746 | ||||||
| 15,962 | PPL Corp. | 562,022 | ||||||
| 10,573 | Public Service Enterprise Group, Inc. | 810,738 | ||||||
| 13,868 | Sempra Energy | 1,228,011 | ||||||
| 23,918 | Southern Co. | 2,261,208 | ||||||
| 6,725 | Vistra Corp. | 996,578 | ||||||
| 6,910 | WEC Energy Group, Inc. | 756,092 | ||||||
| 13,245 | Xcel Energy, Inc. | 1,035,759 | ||||||
|
|
|
| ||||||
| 29,348,099 | ||||||||
|
|
|
| ||||||
| TOTAL COMMON STOCKS (Cost $27,682,870) |
$ | 29,348,099 | ||||||
|
|
|
| ||||||
| SHORT TERM INVESTMENTS - 25.1% |
||||||||
| Money Market Funds - 25.1% |
||||||||
| 9,006,498 | Dreyfus Government Cash Management Institutional Shares, 3.56% (a) | $ | 9,006,498 | |||||
| 236,653 | Dreyfus Treasury Securities Cash Management Institutional Shares, 3.56% (a) | 236,653 | ||||||
| 182,242 | Goldman Sachs Financial Square Government Fund Institutional Shares, 3.56% (a) | 182,242 | ||||||
| 63,487 | Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 3.57% (a) | 63,487 | ||||||
|
|
|
| ||||||
| TOTAL SHORT TERM INVESTMENTS (Cost $9,488,880) | $ | 9,488,880 | ||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS (Cost $37,171,750) - 102.6% (b) | $ | 38,836,979 | ||||||
| Liabilities in Excess of Other Assets - (2.6)% | (967,450) | |||||||
|
|
|
| ||||||
| TOTAL NET ASSETS - 100.0% | $ | 37,869,529 | ||||||
|
|
|
| ||||||
Percentages are stated as a percent of net assets.
The geographic location of all investments is United States unless otherwise indicated.
| (a) | Represents annualized seven-day yield at July 31, 2026. |
| (b) | All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $29,555,879. |
| Long Total Return Swap Contracts (Unaudited) |
| July 31, 2026 |
| Terms of Payments to be Received at Termination |
Terms of Payments to be Paid at Termination | Counterparty | Termination Date | Contracts | Notional Amount | Unrealized Appreciation (Depreciation) |
||||||||||||||
| Total return of Utilities Select Sector Index |
SOFR + 0.7500% | Goldman Sachs | 12/10/2026 | 3,875 | $ | 3,335,871 | $ | 103,289 | ||||||||||||
| Total return of Utilities Select Sector Index |
SOFR + 0.7000% | J.P. Morgan | 12/16/2026 | 12,285 | 10,988,075 | (30,535) | ||||||||||||||
| Total return of Utilities Select Sector Index |
SOFR + 0.7000% | UBS Securities LLC | 12/17/2026 | 53,115 | 45,712,092 | 1,520,560 | ||||||||||||||
| Total return of Utilities Select Sector Index |
SOFR + 0.8500% | Citibank N.A. | 12/22/2026 | 500 | 428,700 | 15,019 | ||||||||||||||
| Total return of Utilities Select Sector Index |
SOFR + 0.7000% | Barclays | 12/22/2026 | 24,105 | 21,261,107 | 239,170 | ||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 81,725,845 | $ | 1,847,503 | |||||||||||||||||
|
|
|
|||||||||||||||||||
SOFR - Secured Overnight Financing Rate was 3.65% as of July 31, 2026.
Valuation Measurements (Unaudited)
The Funds follows fair valuation accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurement of fair value and a discussion in changes in valuation techniques and related inputs during the period. These inputs are summarized in the three broad levels below:
Level 1 - Quoted prices in active markets for identical securities
Level 2 - Evaluated price based on other significant observable inputs (including quoted prices for similar securities in active markets, quoted prices for identical or similar securities in inactive markets, interest rates, prepayment spreads, credit risk, etc.)
Level 3 - Significant unobservable inputs (including Fund’s own assumptions in determining fair value of investments)
The inputs or methodology used for valuing securities are not an indication of the credit risk associated with investing in those securities.
The following is a summary of the inputs used to value the Funds’ net assets as of July 31, 2026:
|
|
| |||||||||||||||||||||||
| Asset Class | Liability Class | |||||||||||||||||||||||
|
|
|
Level 1 |
|
Level 2 | Level 2 | |||||||||||||||||||
| Funds |
Investment Companies |
Common Stocks | Short Term Investments |
Futures Contracts |
Total Return Swap Contracts |
Total Return Swap Contracts | ||||||||||||||||||
| Direxion Auspice Broad Commodity Strategy ETF (Consolidated) |
$ | - | $ | - | $ | 199,980,413 | $ | 4,662,139 | $ | - | $ | - | ||||||||||||
| Direxion GOOGL Defined Income Boost ETF |
- | 213,678 | 1,799,794 | - | 113,236 | (44,465 | ) | |||||||||||||||||
| Direxion HCM Tactical Enhanced US ETF |
- | 447,928,885 | 101,314,537 | - | 38,736,658 | (3,847,256 | ) | |||||||||||||||||
| Direxion META Defined Income Boost ETF |
- | 185,385 | 1,802,416 | - | - | (111,451 | ) | |||||||||||||||||
| Direxion MU Defined Income Boost ETF |
- | 205,758 | 1,794,890 | - | 5,036 | (948 | ) | |||||||||||||||||
| Direxion NASDAQ-100® Equal Weighted Index ETF |
- | 1,334,114,395 | 1,021,781 | - | - | - | ||||||||||||||||||
| Direxion NVDA Defined Income Boost ETF |
- | 205,768 | 1,798,081 | - | 32,748 | (250 | ) | |||||||||||||||||
| Direxion PLTR Defined Income Boost ETF |
- | 196,896 | 1,802,363 | - | 2,432 | (7,429 | ) | |||||||||||||||||
| Direxion TSLA Defined Income Boost ETF |
- | 233,408 | 1,769,438 | - | 20,840 | (256 | ) | |||||||||||||||||
| Direxion Daily AAPL Bear 1X ETF |
- | - | 31,296,955 | - | 1,603,520 | (321,608 | ) | |||||||||||||||||
| Direxion Daily AAPL Bull 2X ETF |
- | 19,724,830 | 162,561,099 | - | 10,239,530 | (17,978,649 | ) | |||||||||||||||||
| Direxion Daily ADBE Bull 2X ETF |
- | 498,566 | 4,701,754 | - | 26,381 | (116,892 | ) | |||||||||||||||||
| Direxion Daily AI and Big Data Bear 2X ETF |
- | - | 8,085,706 | - | 427,199 | (162,148 | ) | |||||||||||||||||
| Direxion Daily AI and Big Data Bull 2X ETF |
- | 17,715,472 | 4,969,059 | - | 1,819,813 | - | ||||||||||||||||||
| Direxion Daily AMD Bear 1X ETF |
- | - | 16,947,860 | - | 1,209,345 | (13,393 | ) | |||||||||||||||||
| Direxion Daily AMD Bull 2X ETF |
- | 14,141,179 | 111,340,355 | - | 1,607,752 | (2,584,819 | ) | |||||||||||||||||
| Direxion Daily AMZN Bear 1X ETF |
- | - | 8,617,517 | - | 9,970 | (644,759 | ) | |||||||||||||||||
| Direxion Daily AMZN Bull 2X ETF |
- | 25,869,082 | 270,010,013 | - | 48,146,632 | - | ||||||||||||||||||
| Direxion Daily ASML Bull 2X ETF |
- | 1,580,130 | 15,089,984 | - | 1,410,431 | (1,313,683 | ) | |||||||||||||||||
| Direxion Daily AVGO Bear 1X ETF |
- | - | 6,654,722 | - | 582,022 | (36,645 | ) | |||||||||||||||||
| Direxion Daily AVGO Bull 2X ETF |
- | 33,376,089 | 180,439,906 | - | 1,712,568 | (24,548,078 | ) | |||||||||||||||||
| Direxion Daily BA Bull 2X ETF |
- | 3,595,057 | 18,885,404 | - | 199,683 | (1,007,766 | ) | |||||||||||||||||
| Direxion Daily BABA Bull 2X ETF |
- | 12,225 | 5,407,530 | - | 1,443,778 | - | ||||||||||||||||||
| Direxion Daily Biotech Top 5 Bull 2X ETF |
- | 1,012,802 | 1,469,942 | - | 88,552 | - | ||||||||||||||||||
| Direxion Daily Bitcoin Bull 2X ETF |
- | - | 4,578,561 | - | 16,254 | (339,517 | ) | |||||||||||||||||
| Direxion Daily BRKB Bull 2X ETF |
- | 4,462,164 | 37,375,432 | - | 3,533,767 | (66,760 | ) | |||||||||||||||||
| Direxion Daily COIN Bull 2X ETF |
- | 611,367 | 5,022,269 | - | - | (744,287 | ) | |||||||||||||||||
| Direxion Daily CSCO Bear 1X ETF |
- | - | 1,943,760 | - | 10,304 | (275,433 | ) | |||||||||||||||||
| Direxion Daily CSCO Bull 2X ETF |
- | 1,402,551 | 12,029,508 | - | 1,860,309 | - | ||||||||||||||||||
| Direxion Daily CSI 300 China A Share Bull 2X ETF |
42,102,047 | - | 68,318,180 | - | 4,719,757 | - | ||||||||||||||||||
| Direxion Daily CSI China Internet Index Bull 2X ETF |
136,676,559 | - | 138,151,678 | - | 2,665,356 | (20,851,957 | ) | |||||||||||||||||
| Direxion Daily Energy Bear 2X ETF |
- | - | 44,386,831 | - | 630,155 | (5,509,121 | ) | |||||||||||||||||
| Direxion Daily Energy Bull 2X ETF |
- | 164,921,604 | 65,323,015 | - | 35,849,470 | - | ||||||||||||||||||
| Direxion Daily Energy Top 5 Bull 2X ETF |
- | 1,284,004 | 1,451,547 | - | 81,217 | (34,186 | ) | |||||||||||||||||
| Direxion Daily Ether Bull 2X ETF |
- | - | 2,369,926 | - | 191,683 | (70,503 | ) | |||||||||||||||||
| Direxion Daily Gold Bull 2X ETF |
- | - | 3,365,796 | - | - | (453,777 | ) | |||||||||||||||||
| Direxion Daily Gold Miners Index Bear 2X ETF |
- | - | 65,370,802 | - | 30,506,576 | - | ||||||||||||||||||
| Direxion Daily Gold Miners Index Bull 2X ETF |
441,310,331 | - | 526,799,493 | - | - | (149,954,568 | ) | |||||||||||||||||
| Direxion Daily GOOGL Bear 1X ETF |
- | - | 19,901,321 | - | 491,089 | (412,991 | ) | |||||||||||||||||
| Direxion Daily GOOGL Bull 2X ETF |
- | 177,926,110 | 926,810,294 | - | 57,411,124 | (77,580,355 | ) | |||||||||||||||||
| Direxion Daily HOOD Bull 2X ETF |
- | 164,637 | 9,782,351 | - | 1,322,733 | (911,749 | ) | |||||||||||||||||
| Direxion Daily INTC Bull 2X ETF |
- | 10,095,004 | 62,884,066 | - | - | (11,335,284 | ) | |||||||||||||||||
| Direxion Daily Junior Gold Miners Index Bear 2X ETF |
- | - | 29,456,389 | - | 9,802,157 | - | ||||||||||||||||||
| Direxion Daily Junior Gold Miners Index Bull 2X ETF |
134,044,413 | - | 329,756,000 | - | - | (101,617,490 | ) | |||||||||||||||||
| Direxion Daily LLY Bull 2X ETF |
- | 2,756,067 | 16,046,605 | - | 180,506 | (1,426,970 | ) | |||||||||||||||||
| Direxion Daily LMT Bull 2X ETF |
- | 1,064,084 | 7,776,727 | - | 621,623 | (174,172 | ) | |||||||||||||||||
| Direxion Daily Magnificent 7 Bear 1X ETF |
- | - | 35,626,183 | - | 741,048 | (29,934 | ) | |||||||||||||||||
| Direxion Daily Magnificent 7 Bull 2X ETF |
- | 28,724,700 | 14,596,652 | - | 5,099,344 | (508,474 | ) | |||||||||||||||||
| Direxion Daily META Bear 1X ETF |
- | - | 10,971,220 | - | 1,034,770 | - | ||||||||||||||||||
| Direxion Daily META Bull 2X ETF |
- | 67,011,739 | 382,766,226 | - | - | (88,248,473 | ) | |||||||||||||||||
| Direxion Daily MRVL Bull 2X ETF |
- | 9,338,800 | 75,434,295 | - | 4,827,379 | (2,629,221 | ) | |||||||||||||||||
| Direxion Daily MSCI Brazil Bull 2X ETF |
50,364,210 | - | 58,943,700 | - | 16,369,466 | - | ||||||||||||||||||
| Direxion Daily MSCI India Bull 2X ETF |
33,934,616 | - | 27,103,131 | - | 973,392 | (4,340,526 | ) | |||||||||||||||||
| Direxion Daily MSFT Bear 1X ETF |
- | - | 6,922,863 | - | 69,728 | (514,650 | ) | |||||||||||||||||
| Direxion Daily MSFT Bull 2X ETF |
- | 84,368,058 | 645,431,831 | - | 52,871,672 | (14,045,708 | ) | |||||||||||||||||
| Direxion Daily MU Bear 1X ETF |
- | - | 60,917,315 | - | 8,193,381 | (3,419,731 | ) | |||||||||||||||||
| Direxion Daily MU Bull 2X ETF |
- | 425,966,584 | 4,252,921,958 | - | - | (1,507,288,921 | ) | |||||||||||||||||
| Direxion Daily NFLX Bear 1X ETF |
- | - | 4,807,891 | - | 1,019,726 | (78,881 | ) | |||||||||||||||||
| Direxion Daily NFLX Bull 2X ETF |
- | 20,554,596 | 138,739,025 | - | - | (33,612,849 | ) | |||||||||||||||||
| Direxion Daily NVDA Bear 1X ETF |
- | - | 21,076,903 | - | 842,663 | (49,050 | ) | |||||||||||||||||
| Direxion Daily NVDA Bull 2X ETF |
- | 67,008,744 | 442,755,345 | - | 32,308,313 | (4,868,087 | ) | |||||||||||||||||
| Direxion Daily NYSE FANG+ Bull 2X ETF |
- | 41,592,356 | 76,019,359 | - | 9,477,066 | - | ||||||||||||||||||
| Direxion Daily ORCL Bear 1X ETF |
- | - | 11,898,671 | - | 1,076,312 | (269,852 | ) | |||||||||||||||||
| Direxion Daily ORCL Bull 2X ETF |
- | 15,185,180 | 121,166,548 | - | - | (25,103,465 | ) | |||||||||||||||||
| Direxion Daily PANW Bear 1X ETF |
- | - | 2,692,887 | - | 18,330 | (304,649 | ) | |||||||||||||||||
| Direxion Daily PANW Bull 2X ETF |
- | 3,933,181 | 27,173,663 | - | 2,274,564 | (946,631 | ) | |||||||||||||||||
| Direxion Daily PLTR Bear 1X ETF |
- | - | 34,651,255 | - | 6,375,056 | - | ||||||||||||||||||
| Direxion Daily PLTR Bull 2X ETF |
- | 73,003,253 | 384,674,132 | - | - | (84,696,695 | ) | |||||||||||||||||
| Direxion Daily PYPL Bull 2X ETF |
- | 314,656 | 2,405,606 | - | 75,174 | (40,987 | ) | |||||||||||||||||
| Direxion Daily QCOM Bear 1X ETF |
- | - | 2,116,547 | - | 468,103 | - | ||||||||||||||||||
| Direxion Daily QCOM Bull 2X ETF |
- | 4,221,646 | 24,873,157 | - | - | (11,166,054 | ) | |||||||||||||||||
| Direxion Daily Robotics, Artificial Intelligence & Automation Index Bull 2X ETF |
10,181,996 | - | 15,115,143 | - | 155,410 | (1,387,019 | ) | |||||||||||||||||
| Direxion Daily S&P 500® Bear 1X ETF |
- | - | 237,770,840 | - | 1,284,438 | (8,603,508 | ) | |||||||||||||||||
| Direxion Daily S&P 500® Bull 2X ETF |
- | 242,866,315 | 19,016,027 | - | 20,864,741 | - | ||||||||||||||||||
| Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF |
- | - | 105,693,840 | - | 360,677 | (4,330,267 | ) | |||||||||||||||||
| Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF |
- | 168,401,744 | 75,906,978 | - | 49,115,232 | - | ||||||||||||||||||
| Direxion Daily Semiconductors Top 5 Bear 2X ETF |
- | - | 1,776,902 | - | 62,563 | (288,134 | ) | |||||||||||||||||
| Direxion Daily Semiconductors Top 5 Bull 2X ETF |
- | 1,793,623 | 13,231,951 | - | 1,807,634 | (817,896 | ) | |||||||||||||||||
| Direxion Daily SHOP Bull 2X ETF |
- | 1,148,188 | 9,190,743 | - | 315,130 | (542,499 | ) | |||||||||||||||||
| Direxion Daily Silver Bull 2X ETF |
- | - | 8,158,883 | - | 299,541 | (946,358 | ) | |||||||||||||||||
| Direxion Daily SK Hynix Bull 2X ETF |
- | - | 21,045,579 | - | - | (2,189,389 | ) | |||||||||||||||||
|
|
| |||||||||||||||||||||||
| Asset Class | Liability Class | |||||||||||||||||||||||
|
|
|
Level 1 |
|
Level 2 | Level 2 | |||||||||||||||||||
| Funds |
Investment Companies |
Common Stocks | Short Term Investments |
Futures Contracts |
Total Return Swap Contracts |
Total Return Swap Contracts | ||||||||||||||||||
| Direxion Daily SOFI Bull 2X ETF |
- | 1,094,189 | 7,280,631 | - | 61,876 | (371,025 | ) | |||||||||||||||||
| Direxion Daily SpaceX Bull 2X ETF |
- | - | 54,830,967 | - | - | (30,805,017 | ) | |||||||||||||||||
| Direxion Daily Technology Top 5 Bear 2X ETF |
- | - | 1,674,606 | - | 4,192 | (204,134 | ) | |||||||||||||||||
| Direxion Daily Technology Top 5 Bull 2X ETF |
- | 1,603,527 | 2,385,575 | - | 251,958 | - | ||||||||||||||||||
| Direxion Daily TSLA Bear 1X ETF |
- | - | 84,426,510 | - | 14,899,516 | (288,638 | ) | |||||||||||||||||
| Direxion Daily TSLA Bull 2X ETF |
- | 477,624,257 | 4,308,163,911 | - | - | (1,694,948,625 | ) | |||||||||||||||||
| Direxion Daily TSM Bear 1X ETF |
- | - | 3,271,405 | - | 72,947 | (231,304 | ) | |||||||||||||||||
| Direxion Daily TSM Bull 2X ETF |
- | 81,491,140 | 506,863,735 | - | 31,042,538 | (706,668 | ) | |||||||||||||||||
| Direxion Daily TXN Bull 2X ETF |
- | 302,487 | 4,166,937 | - | 260,486 | (143,522 | ) | |||||||||||||||||
| Direxion Daily UNH Bull 2X ETF |
- | 538,720 | 3,917,660 | - | - | (130,893 | ) | |||||||||||||||||
| Direxion Daily Uranium Industry Bull 2X ETF |
18,761,074 | - | 15,350,935 | - | - | (5,398,363 | ) | |||||||||||||||||
| Direxion Daily XOM Bull 2X ETF |
- | 1,677,042 | 8,078,172 | - | 169,009 | (151,103 | ) | |||||||||||||||||
| Direxion Daily 20+ Year Treasury Bear 3X ETF |
- | - | 184,361,656 | - | 31,526,123 | - | ||||||||||||||||||
| Direxion Daily 20+ Year Treasury Bull 3X ETF |
1,462,191,479 | - | 987,680,869 | - | - | (308,476,984 | ) | |||||||||||||||||
| Direxion Daily 7-10 Year Treasury Bear 3X ETF |
- | - | 12,248,192 | - | 1,303,383 | - | ||||||||||||||||||
| Direxion Daily 7-10 Year Treasury Bull 3X ETF |
23,051,972 | - | 11,308,715 | - | - | (2,727,998 | ) | |||||||||||||||||
| Direxion Daily Aerospace & Defense Bull 3X ETF |
- | 250,953,054 | 126,473,567 | - | 73,405,130 | - | ||||||||||||||||||
| Direxion Daily Consumer Discretionary Bull 3X ETF |
- | 11,307,794 | 8,266,404 | - | 866,079 | (127,028 | ) | |||||||||||||||||
| Direxion Daily Dow Jones Internet Bear 3X ETF |
- | - | 8,806,271 | - | 147,559 | (464,032 | ) | |||||||||||||||||
| Direxion Daily Dow Jones Internet Bull 3X ETF |
- | 60,386,069 | 29,575,124 | - | 14,233,913 | (550,993 | ) | |||||||||||||||||
| Direxion Daily Financial Bear 3X ETF |
- | - | 93,190,324 | - | - | (5,365,869 | ) | |||||||||||||||||
| Direxion Daily Financial Bull 3X ETF |
- | 1,582,407,768 | 770,369,593 | - | 282,689,554 | - | ||||||||||||||||||
| Direxion Daily FTSE China Bear 3X ETF |
- | - | 90,676,527 | - | 8,696,280 | (4,450,473 | ) | |||||||||||||||||
| Direxion Daily FTSE China Bull 3X ETF |
391,050,671 | - | 410,888,002 | - | 31,695,353 | (47,974,757 | ) | |||||||||||||||||
| Direxion Daily FTSE Europe Bull 3X ETF |
23,344,680 | - | 42,089,169 | - | 2,720,579 | (277,316 | ) | |||||||||||||||||
| Direxion Daily Healthcare Bull 3X ETF |
- | 115,245,934 | 59,242,109 | - | 22,867,717 | - | ||||||||||||||||||
| Direxion Daily Homebuilders & Supplies Bull 3X ETF |
- | 400,736,439 | 161,637,474 | - | 15,416,752 | (23,906,742 | ) | |||||||||||||||||
| Direxion Daily Industrials Bull 3X ETF |
- | 42,918,886 | 14,046,644 | - | 10,942,295 | - | ||||||||||||||||||
| Direxion Daily Mid Cap Bull 3X ETF |
- | 52,267,408 | 16,713,308 | - | 12,919,706 | - | ||||||||||||||||||
| Direxion Daily MSCI Emerging Markets Bear 3X ETF |
- | - | 21,147,553 | - | 1,425,054 | (2,320,778 | ) | |||||||||||||||||
| Direxion Daily MSCI Emerging Markets Bull 3X ETF |
13,335,719 | - | 141,814,692 | - | 27,423,193 | (7,170,343 | ) | |||||||||||||||||
| Direxion Daily MSCI Mexico Bull 3X ETF |
8,888,530 | - | 14,946,128 | - | 3,991,807 | - | ||||||||||||||||||
| Direxion Daily MSCI South Korea Bull 3X ETF |
722,996,351 | - | 823,658,785 | - | 140,149,263 | (303,042,439 | ) | |||||||||||||||||
| Direxion Daily Pharmaceutical & Medical Bull 3X ETF |
- | 15,492,167 | 6,717,164 | - | 5,031,292 | (470,800 | ) | |||||||||||||||||
| Direxion Daily Real Estate Bear 3X ETF |
- | - | 30,333,333 | - | 61,879 | (4,885,470 | ) | |||||||||||||||||
| Direxion Daily Real Estate Bull 3X ETF |
- | 31,670,816 | 14,116,152 | - | 6,971,085 | (304,852 | ) | |||||||||||||||||
| Direxion Daily Regional Banks Bull 3X ETF |
- | 288,589,078 | 137,464,580 | - | 114,494,282 | - | ||||||||||||||||||
| Direxion Daily Retail Bull 3X ETF |
- | 20,198,746 | 9,498,398 | - | 4,352,474 | - | ||||||||||||||||||
| Direxion Daily S&P 500® Bear 3X ETF |
- | - | 390,789,943 | - | - | (39,509,410 | ) | |||||||||||||||||
| Direxion Daily S&P 500® Bull 3X ETF |
- | 5,032,565,632 | 1,536,469,193 | - | 880,222,750 | - | ||||||||||||||||||
| Direxion Daily S&P 500® High Beta Bear 3X ETF |
- | - | 23,504,664 | - | 2,910,106 | - | ||||||||||||||||||
| Direxion Daily S&P 500® High Beta Bull 3X ETF |
- | 50,702,112 | 27,021,601 | - | 11,265,800 | (2,716,804 | ) | |||||||||||||||||
| Direxion Daily S&P Biotech Bear 3X ETF |
- | - | 74,550,967 | - | 2,386,478 | (9,169,070 | ) | |||||||||||||||||
| Direxion Daily S&P Biotech Bull 3X ETF |
- | 331,570,435 | 178,156,660 | - | 132,776,889 | (2,650,729 | ) | |||||||||||||||||
| Direxion Daily Semiconductor Bear 3X ETF |
- | - | 1,689,532,133 | - | 167,470,322 | (319,828,152 | ) | |||||||||||||||||
| Direxion Daily Semiconductor Bull 3X ETF |
- | 13,397,225,105 | 10,787,824,711 | - | 990,064,924 | (5,023,039,482 | ) | |||||||||||||||||
| Direxion Daily Small Cap Bear 3X ETF |
- | - | 255,920,111 | - | 1,263,088 | (32,289,309 | ) | |||||||||||||||||
| Direxion Daily Small Cap Bull 3X ETF |
923,682,324 | - | 386,673,073 | - | 318,928,895 | - | ||||||||||||||||||
| Direxion Daily Technology Bear 3X ETF |
- | - | 80,437,944 | - | 979,173 | (16,028,047 | ) | |||||||||||||||||
| Direxion Daily Technology Bull 3X ETF |
- | 3,495,297,897 | 1,657,144,014 | - | 1,218,299,137 | (60,403,579 | ) | |||||||||||||||||
| Direxion Daily Transportation Bull 3X ETF |
- | 7,770,938 | 9,445,855 | - | 158,591 | (163,456 | ) | |||||||||||||||||
| Direxion Daily Utilities Bull 3X ETF |
- | 29,348,099 | 9,488,880 | - | 1,878,038 | (30,535 | ) | |||||||||||||||||