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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>GILEAD SCIENCES INC</name>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>INVESCO ACTIVELY MANAGED EXCHANGE-TRADED FUND TRUST</name>
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        <fairValLevel>1</fairValLevel>
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        <name>INTERNATIONAL BUSINESS MACHINES CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ISHARES TRUST</name>
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        <title>iShares 0-3 Month Treasury Bond ETF</title>
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        <fairValLevel>1</fairValLevel>
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        <name>JANUS LIVING INC</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <lei>765LHXWGK1KXCLTFYQ30</lei>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>PUBLIC STORAGE OPERATING COMPANY</name>
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        <name>PROLOGIS INC</name>
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        <name>QUEST DIAGNOSTICS INC</name>
        <lei>8MCWUBXQ0WE04KMXBX50</lei>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <lei>NKNQHM6BLECKVOQP7O46</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>SAP SE</name>
        <lei>529900D6BF99LW9R2E68</lei>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <fairValLevel>1</fairValLevel>
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        <name>SIEMENS AG</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>SELECT SECTOR SPDR TRUST (THE)</name>
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        <fairValLevel>1</fairValLevel>
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        <name>STRYKER CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TE CONNECTIVITY PLC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>TEXAS INSTRUMENTS INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LTD</name>
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        <fairValLevel>1</fairValLevel>
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        <name>TJX COMPANIES INC (THE)</name>
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        <fairValLevel>1</fairValLevel>
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        <name>UNILEVER PLC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>US BANCORP</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>UNITEDHEALTH GROUP INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>VANGUARD SCOTTSDALE FUNDS</name>
        <lei>549300Y88GQ3VLJIBX57</lei>
        <title>Vanguard Intermediate-Term Treasury ETF</title>
        <cusip>92206C706</cusip>
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          <isin value="US92206C7065"/>
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        <name>VANGUARD WHITEHALL FUNDS</name>
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        <title>Vanguard International High Dividend Yield ETF</title>
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        <fairValLevel>1</fairValLevel>
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        <name>VANGUARD SCOTTSDALE FUNDS</name>
        <lei>549300Y88GQ3VLJIBX57</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>WALMART INC</name>
        <lei>Y87794H0US1R65VBXU25</lei>
        <title>Walmart Inc</title>
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        <fairValLevel>2</fairValLevel>
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        <name>EQUITY RESIDENTIAL</name>
        <lei>5493008RACSH5EP3PI59</lei>
        <title>Equity Residential Properties Trust SBI USD0.01</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>WELLTOWER INC</name>
        <lei>254900F33BIAR82QTA19</lei>
        <title>Welltower OP LLC COM USD1</title>
        <cusip>95040Q104</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>WILLIAMS COMPANIES INC (THE)</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>WILLIAMS COS INC</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <lei>T6IZ0MBEG5ACZDTR7D06</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ALPHABET INC</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AMAZON.COM INC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ALPHABET INC</name>
        <lei>5493006MHB84DD0ZWV18</lei>
        <title>Alphabet Inc</title>
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          <ticker value="GOOGL"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AMERICAN EXPRESS COMPANY</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>American Express Co</title>
        <cusip>025816DY2</cusip>
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          <isin value="US025816DY24"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>AMGEN INC</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>Amgen Inc. COM USD0.0001</title>
        <cusip>031162100</cusip>
        <identifiers>
          <isin value="US0311621009"/>
          <ticker value="AMGN"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>812473.200000000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AMERICAN HEALTHCARE REIT INC</name>
        <lei>2549004GGE2APGNT6O92</lei>
        <title>AMERICAN HEALTHCARE REIT INC</title>
        <cusip>398182303</cusip>
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          <isin value="US3981823038"/>
          <ticker value="AHR"/>
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        <curCd>USD</curCd>
        <valUSD>552376.050000000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>ANALOG DEVICES INC</name>
        <lei>GYVOE5EZ4GDAVTU4CQ61</lei>
        <title>Analog Devices Inc. COM USD0.16 2/3</title>
        <cusip>032654105</cusip>
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          <isin value="US0326541051"/>
          <ticker value="ADI"/>
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        <curCd>USD</curCd>
        <valUSD>899917.900000000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>APPLE INC</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>Apple Inc. COM USD0.00001</title>
        <cusip>037833100</cusip>
        <identifiers>
          <isin value="US0378331005"/>
          <ticker value="AAPL"/>
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        <curCd>USD</curCd>
        <valUSD>2785111.500000000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>APPLIED MATERIALS INC</name>
        <lei>41BNNE1AFPNAZELZ6K07</lei>
        <title>Applied Materials Inc. COM USD0.01</title>
        <cusip>038222105</cusip>
        <identifiers>
          <isin value="US0382221051"/>
          <ticker value="AMAT"/>
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        <curCd>USD</curCd>
        <valUSD>660081.600000000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ARES CAPITAL CORP</name>
        <lei>WEQ82666OJYSI5GUAB47</lei>
        <title>Ares Capital Corp</title>
        <cusip>04010LBG7</cusip>
        <identifiers>
          <isin value="US04010LBG77"/>
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        <curCd>USD</curCd>
        <valUSD>332442.260000000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>ARTHUR J. GALLAGHER &amp; COMPANY</name>
        <lei>54930049QLLMPART6V29</lei>
        <title>Arthur J Gallagher &amp; Co</title>
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        <identifiers>
          <isin value="US04316JAM18"/>
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        <curCd>USD</curCd>
        <valUSD>627922.540000000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>AUTOMATIC DATA PROCESSING INC</name>
        <lei>HGBOLILQXWER4SAL2I23</lei>
        <title>Automatic Data Processing Inc</title>
        <cusip>053015AJ2</cusip>
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          <isin value="US053015AJ27"/>
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        <curCd>USD</curCd>
        <valUSD>542754.120000000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ASTRAZENECA PLC</name>
        <lei>PY6ZZQWO2IZFZC3IOL08</lei>
        <title>AstraZeneca PLC</title>
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          <ticker value="AZN"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corporation COM USD0.01</title>
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          <ticker value="BAC"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>BANK OF NEW YORK MELLON CORP (THE)</name>
        <lei>WFLLPEPC7FZXENRZV188</lei>
        <title>Bank of New York Mellon Corp/The</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>BLACKROCK INC</name>
        <lei>529900VBK42Y5HHRMD23</lei>
        <title>BLACKROCK INC</title>
        <cusip>09290D101</cusip>
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          <isin value="US09290D1019"/>
          <ticker value="BLK UN"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>BRISTOL-MYERS SQUIBB COMPANY</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>Bristol-Myers Squibb Co</title>
        <cusip>110122EG9</cusip>
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          <isin value="US110122EG99"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BROADCOM INC</name>
        <lei>549300WV6GIDOZJTV909</lei>
        <title>Broadcom Inc COM USD0.001</title>
        <cusip>11135F101</cusip>
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          <isin value="US11135F1012"/>
          <ticker value="AVGO"/>
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        <curCd>USD</curCd>
        <valUSD>764752.100000000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CISCO SYSTEMS INC</name>
        <lei>549300LKFJ962MZ46593</lei>
        <title>Cisco Systems Inc</title>
        <cusip>17275RBS0</cusip>
        <identifiers>
          <isin value="US17275RBS04"/>
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        <curCd>USD</curCd>
        <valUSD>682152.150000000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.850000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NVIDIA CORP</name>
        <lei>549300S4KLFTLO7GSQ80</lei>
        <title>NVIDIA Corp. COM USD0.001</title>
        <cusip>67066G104</cusip>
        <identifiers>
          <isin value="US67066G1040"/>
          <ticker value="NVDA"/>
        </identifiers>
        <balance>8775.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1937344.500000000000</valUSD>
        <pctVal>1.4503719380</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PAYCHEX INC</name>
        <lei>529900K900DW6SUBM174</lei>
        <title>Paychex Inc</title>
        <cusip>704326AA5</cusip>
        <identifiers>
          <isin value="US704326AA51"/>
        </identifiers>
        <balance>615000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>615313.330000000000</valUSD>
        <pctVal>0.4606476478</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.100000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PEPSICO INC</name>
        <lei>FJSUNZKFNQ5YPJ5OT455</lei>
        <title>PepsiCo Inc</title>
        <cusip>713448GH5</cusip>
        <identifiers>
          <isin value="US713448GH52"/>
        </identifiers>
        <balance>575000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>568966.700000000000</valUSD>
        <pctVal>0.4259507462</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-10-27</ncom:dateSigned>
      <ncom:nameOfApplicant>Direxion Funds</ncom:nameOfApplicant>
      <ncom:signature>Patrick Rudnick</ncom:signature>
      <ncom:signerName>Patrick Rudnick</ncom:signerName>
      <ncom:title>Principal Executive Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
