LEUTHOLD GROUP, LLC - 01 Dec 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: 24,035,282 shares
Disclosed Ownership: 2,475,634 shares
Ownership: 10%
Form type: SCHEDULE 13G/A
Filing time: 05 Dec 2025, 12:22:30 UTC
Date of event: 01 Dec 2025
Previous filing: 02 Oct 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%	2,475,634	2,116,949	358,685	/s/ Glenn R. Larson	Glenn R. Larson, Chief Compliance Officer