Leuthold Group, Llc - Dec 1, 2025 SCHEDULE 13G/A Report for Direxion Shares ETF Trust Direxion Daily S&P 500 Bear 1X Shares (SPDN)

Filing Manager: Leuthold Group, Llc
Reporting Manager: LEUTHOLD GROUP, LLC
Security: Direxion Shares ETF Trust Direxion Daily S&P 500 Bear 1X Shares
Symbol: SPDN
Shares outstanding: 24M shares
Disclosed Ownership: 2.48M shares
Ownership: 10.3%
Form type: SCHEDULE 13G/A
Date filed: 12/5/2025, 12:22 PM
Date of event: Dec 1, 2025
Previous filing: Oct 2, 2025
SEC: View on sec.gov

Reporting Managers (1)

Name	Ownership	Shares Owned	sole voting power	shared voting power	Signature	Title	CIK
LEUTHOLD GROUP, LLC	10.3%	2.48M	2.12M	359K	/s/ Glenn R. Larson	Glenn R. Larson, Chief Compliance Officer