Fund · Direxion Daily S&P 500 Bull 3X Shares · measured from SEC filings
SPXL holdings
SPXL reports 513 holdings and behaves like 40.4 equally weighted ones, computed from its SEC Form N-PORT filing for 2026-07-31. The fact sheet publishes the first number; this page computes the second, and traces it across 27 quarters of filings.
Measured concentration
as of 2026-07-31This figure is not comparable with other funds
swap and futures notional is 225% of net assets: the fund's exposure is delivered by derivatives, and a count of its filed positions does not describe it. See the exposure section for what the notional is written on
6.7% of net assets is securities-lending cash collateral, excluded from the figure; counted as filed the fund would read 31.9
The figure below is what the filing says, published unchanged. What it may not do is sit beside a plain long-only fund and be read as the same quantity. How comparability is decided.
Computed by this site from the fund's SEC Form N-PORT filing; what the measure does not tell you · every fund in one table · hold it with other funds? X-ray the mix. Pricing: 88.18% at a quoted market price (level 1), 2 issuer countries.
What stands out
as of 2026-07-31The largest line in SPXL's filing is not a stock but Dreyfus Trsry Securities Cash Mgmt, a short-term position at 17.24% of net assets. Between the 2026-01-31 and 2026-04-30 filings 6 positions were added and 7 dropped; 10.1% of the weight moved.
Each sentence is read from the fund's own SEC filing; the class median is computed across the comparable equity funds on this site. Nothing here is a view on the fund.
Every filing since 2019
27| Period | Holdings | Effective | Top 10 | Largest |
|---|---|---|---|---|
| 2026-04-30 * | 514 | 24.3 | 46.34% | 16.68% |
| 2026-01-31 * | 514 | 25.1 | 45.78% | 16.23% |
| 2025-10-31 * | 513 | 28.7 | 49.87% | 12.36% |
| 2025-07-31 * | 513 | 31.5 | 48.9% | 10.82% |
| 2025-04-30 * | 508 | 38 | 43.83% | 8.23% |
| 2025-01-31 * | 509 | 56.1 | 35.71% | 6.3% |
| 2024-10-31 * | 514 | 35.9 | 43.55% | 11.29% |
| 2024-07-31 * | 515 | 26.4 | 47.15% | 15.17% |
Earlier filings (19 more, back to 2019-10-31)
| Period | Holdings | Effective | Top 10 | Largest |
|---|---|---|---|---|
| 2024-04-30 * | 513 | 61.2 | 32.99% | 5.61% |
| 2024-01-31 * | 513 | 26.2 | 40.76% | 16.63% |
| 2023-10-31 * | 511 | 32.2 | 38.58% | 13.99% |
| 2023-07-31 * | 513 | 32.9 | 45.52% | 12.31% |
| 2023-04-30 * | 512 | 58.2 | 30.63% | 7.53% |
| 2023-01-31 * | 514 | 23.5 | 40.26% | 18.33% |
| 2022-10-31 * | 511 | 34.8 | 41.14% | 11.58% |
| 2022-07-31 * | 10 | 2.2 | 100% | 66.13% |
| 2022-04-30 * | 6 | 1.7 | 100% | 75.46% |
| 2022-01-31 * | 9 | 2.2 | 100% | 63.63% |
| 2021-10-31 * | 12 | 2.8 | 98.37% | 57.21% |
| 2021-07-31 * | 10 | 2.6 | 100% | 59.69% |
| 2021-04-30 * | 10 | 2.5 | 100% | 59.33% |
| 2021-01-31 * | 7 | 1.7 | 100% | 74.37% |
| 2020-10-31 * | 6 | 1.9 | 100% | 70.9% |
| 2020-07-31 * | 9 | 2.3 | 100% | 63.75% |
| 2020-04-30 * | 11 | 2.3 | 99.75% | 63.17% |
| 2020-01-31 * | 10 | 1.6 | 100% | 77.69% |
| 2019-10-31 * | 8 | 2.2 | 100% | 66.01% |
One row per filed reporting period, newest first, read from EDGAR. Quarterly because that is the public filing cadence. Rows marked * are published but held out of the comparison above; the methodology page says when and why.
As filed, collateral included
6.74% collateralSPXL's filing lists 514 positions including 6.74% of net assets in securities-lending cash collateral. Counted as filed the fund reads 31.9 effective holdings with a top ten of 46.59%; on its own investments — the figure above — it reads 40.4 with a top ten of 40.37%. The collateral is matched by a liability and is not a holding the fund chose; since 2026-09-18 every figure on this site sets it aside (methodology). Both numbers are in the data.
Largest positions, as filed
as of 2026-04-30The 15 largest of 513 positions in SPXL's Form N-PORT, weight as a share of net assets, securities-lending collateral excluded. Every position, every quarter: SPXL.csv.gz.
| # | Position | Weight | Cumulative |
|---|---|---|---|
| 1 | DREYFUS | 18.74% | 18.7% |
| 2 | NVIDIA Corp. | 6.02% | 24.8% |
| 3 | Apple Inc. | 4.94% | 29.7% |
| 4 | GOLDMAN FINANCIAL | 4.68% | 34.4% |
| 5 | Microsoft Corp. | 3.76% | 38.1% |
| 6 | Amazon.com, Inc. | 3.21% | 41.3% |
| 7 | Alphabet Inc. | 2.78% | 44.1% |
| 8 | Broadcom Inc | 2.46% | 46.6% |
| 9 | Alphabet Inc. | 2.22% | 48.8% |
| 10 | META PLATFORMS INC | 1.66% | 50.5% |
| 11 | Tesla Inc | 1.33% | 51.8% |
| 12 | Berkshire Hathaway Inc. | 1.08% | 52.9% |
| 13 | JP MORGAN CHASE & COMPANY | 1.05% | 53.9% |
| 14 | ELI LILLY & COMPANY | 0.92% | 54.8% |
| 15 | EXXON MOBIL CORP | 0.80% | 55.6% |
By country of issuer
as of 2026-04-30Share of SPXL's own investments by the issuer country the filer reported (incorporation, not revenue). Each country links to every fund that holds it.
| Country | Share |
|---|---|
| United States | 99.92% |
| Netherlands° | 0.08% |
Returns the fund reported
2019-08 – 2026-04Monthly total returns from Item B.5 of SPXL's own filings, 81 months on record. Not computed here and not from a price feed.
Cross-checked against a series computed separately from prices: median difference 0.13 percentage points over 81 months, which is roughly the distributions. Every month with the filing it came from: SPXL.json · all funds.
Who borrows SPXL's shares
2026-07-31The fund lends its holdings, and Item B.4.a of the filing names every firm holding them. At 2026-07-31, $14m was out to 6 borrowers. The largest, Wells Fargo Securities LLC, held 67.5% of it.
| Borrower | On loan | Share of the loan |
|---|---|---|
| Wells Fargo Securities LLC | $10m | 67.5% |
| BARCLAYS BANK PLC | $3m | 20.9% |
| BARCLAYS CAPITAL INC. | $1m | 9.3% |
| Jefferies LLC | $181,130 | 1.3% |
| Wedbush Securities Inc. | $77,633 | 0.5% |
The filing reports no cash collateral position against this loan. Collateral taken in a form the fund does not hold as a position does not appear in N-PORT, so this is silence rather than absence. What the collateral figure can and cannot show. Every quarter SPXL has filed, with each borrower: SPXL.json · all funds.
Since the previous filing
2026-01-31 → 2026-04-30507 positions became 506: 6 added (0.4% of the fund at the later date), 7 dropped (0.1% at the earlier date). Half the sum of all weight changes, a turnover proxy: 10.1%. Positions are matched on identifiers, so a security whose identifier changed shows as one drop and one add. Every filing of SPXL compared this way, as a feed: changes.xml · all funds: filings received.
| Largest increases | 2026-01-31 | 2026-04-30 | Largest decreases | 2026-01-31 | 2026-04-30 |
|---|---|---|---|---|---|
| N/A | 4.54% | 11.01% | Microsoft Corp. | 4.13% | 3.34% |
| GOLDMAN FINANCIAL | 2.75% | 4.17% | NVIDIA Corp. | 5.99% | 5.35% |
| DREYFUS | 16.23% | 16.68% | Apple Inc. | 4.95% | 4.40% |
| Intel Corporation | 0.27% | 0.49% | META PLATFORMS INC | 2.01% | 1.48% |
| Broadcom Inc | 2.02% | 2.18% | Tesla Inc | 1.56% | 1.18% |
| ADVANCED MICRO DEVICES INC | 0.50% | 0.64% | ELI LILLY & COMPANY | 1.06% | 0.82% |
New: VERTIV HOLDINGS COMPANY (0.14%), Ciena Corporation (0.08%), LUMENTUM HOLDINGS INC (0.07%), COHERENT CORP (0.07%), Casey'S General Stores Inc. (0.03%), ECHOSTAR CORP (0.02%). Gone: Hologic Inc (0.02%), Dayforce Inc (0.01%), Molina Healthcare, Inc. (0.01%), Match Group Inc (0.01%), Paycom Software Inc (0.01%), Lamb Weston Holdings Inc (0.01%).
Asset categories and pricing
as of 2026-07-31| Asset category (as filed) | Share of investments |
|---|---|
| equity EC | 67.56% |
| short-term investment STIV | 20.63% |
| DO DO | 11.82% |
88.2% of SPXL is carried at a quoted market price (fair-value level 1). Categories and levels are the filer's, from Form N-PORT; what a low level-1 share does and does not mean is in the measure's page.
Derivative exposure and counterparties
as of 2026-04-30A position count cannot describe a fund that uses derivatives, because a swap is filed at its unrealised gain, not its exposure. These are the notionals the fund itself reported, against net assets of $5.93B. Notional of an interest-rate or currency swap is not equity exposure.
| Swap counterparty | Notional | % of net assets |
|---|---|---|
| CITIBANK, NATIONAL ASSOCIATION | $2.62B | 44.14% |
| JPMorgan Securities LLC | $2.60B | 43.77% |
| Bank of America NA | $2.53B | 42.69% |
| BNP PARIBAS | $2.05B | 34.65% |
| Goldman Sachs & Co. LLC | $1.56B | 26.32% |
| Barclays Bank plc | $1.51B | 25.49% |
| UBS AG | $742M | 12.51% |
Financing leg as filed: the fund pays 1 month Sofr + spread + 4.33% on $13.61B of long swap notional . Issuers fill the spread field differently (some file the all-in rate), so compare within an issuer, not across.
Full detail for every fund that files derivatives: leverage.json (CC BY 4.0).
Neighbours by effective holdings, equity funds
10Every measured equity fund lined up by how many holdings it behaves like; these sit either side of SPXL (40.4). Same filings, same arithmetic. Position in this list says nothing about which fund is better.
| Fund | Reports | Behaves like | Top ten | As of |
|---|---|---|---|---|
| NGIF Nuveen Global Infrastructure Fund | 67 | 40.1 | 38.81% | 2026-06-30 |
| QLD ProShares Ultra QQQ | 127 | 40.3 * | 37.77% | 2026-05-31 |
| JTEK JPMorgan U.S. Tech Leaders ETF | 62 | 40.3 | 38.09% | 2026-06-30 |
| HEDJ WisdomTree Europe Hedged Equity Fund | 137 | 40.3 | 41.38% | 2026-06-30 |
| ESGV Vanguard ESG U.s. Stock ETF | 1,243 | 40.4 | 42.58% | 2026-05-31 |
| FQAL Fidelity Quality Factor ETF | 127 | 40.6 | 38.17% | 2026-07-31 |
| WTAI WisdomTree Artificial Intelligence and Innovation Fund | 58 | 40.6 | 37.1% | 2026-06-30 |
| JUST Goldman Sachs JUST U.S. Large Cap Equity ETF | 467 | 40.6 | 41.49% | 2026-05-31 |
| EQL ALPS Equal Sector Weight ETF | 509 | 40.7 | 44.59% | 2026-05-31 |
| CGXU Capital Group International Focus Equity ETF | 73 | 40.9 | 38.48% | 2026-05-31 |
Essays that examine SPXL
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Mentions are detected across the full text of every article, so an appearance may be a passing comparison rather than the subject. Nothing here is a recommendation to buy or sell — see the disclaimer.