Direxion Auspice Broad Commodity Strategy ETF (Consolidated)

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	SHORT TERM INVESTMENTS - 98.6%
	Money Market Funds - 98.6%
	327,615,020	Dreyfus Government Cash Management Institutional Shares, 1.83% (a)	$	327,615,020
		TOTAL SHORT TERM INVESTMENTS (Cost $327,615,020)	$	327,615,020
		TOTAL INVESTMENTS (Cost $327,615,020) - 98.6%	$	327,615,020
		Other Assets in Excess of Liabilities - 1.4%		4,724,487
		TOTAL NET ASSETS - 100.0%	$	332,339,507

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, 2022.

^(b)  $4,588,540 of cash is pledged as collateral for futures contracts.

Long Futures Contracts (Unaudited)

July 31, 2022

Reference Entity	Expiration Date	Number of Contracts	Notional Amount		Variation Margin Receivable/ (Payable), net			Unrealized Appreciation (Depreciation)
Gasoline RBOB	10/31/2022	119	$	13,782,985	$	135,946		$	(657,765	)
Natural Gas	3/29/2023	144		7,117,920		(69,120	)		992,260
NY Harbor ULSD	8/31/2022	81		12,073,698		(220,450	)		(231,300	)
WTI Crude Oil	2/21/2023	127		11,457,940		233,680			(540,503	)
			$	44,432,543	$	80,056		$	(437,308	)

All futures contracts held by Direxion BCS Fund Ltd.

Direxion Breakfast Commodities Strategy ETF (Consolidated)

Schedule of Investments (Unaudited)

July 31, 2022

Shares		Fair Value
SHORT TERM INVESTMENTS - 92.6%
Money Market Funds - 92.6%
6,091,452	Dreyfus Government Cash Management Institutional Shares, 1.83% (a)	$	6,091,452
	TOTAL SHORT TERM INVESTMENTS (Cost $6,091,452)	$	6,091,452
	TOTAL INVESTMENTS (Cost $6,091,452) - 92.6%	$	6,091,452
	Other Assets in Excess of Liabilities - 7.4%		485,581
	TOTAL NET ASSETS - 100.0%	$	6,577,033

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, 2022.

^(b)  $471,328 of cash is pledged as collateral for futures contracts.

Long Futures Contracts (Unaudited)

July 31, 2022

Reference Entity	Expiration Date	Number of Contracts	Notional Amount		Variation Margin Receivable/ (Payable), net			Unrealized Appreciation (Depreciation)
Coffee C	3/21/2023	5	$	391,781	$	(1,688	)	$	(30,131	)
Corn	12/14/2023	89		2,582,113		21,138			(221,196	)
Frozen Concentrate Orange Juice	9/12/2022	13		335,400		5,363			1,954
Lean Hogs	10/14/2022	24		933,360		8,640			35,910
Sugar #11	4/28/2023	35		668,752		(4,312	)		(62,202	)
Wheat	9/14/2022	39		1,575,112		(18,038	)		(439,659	)
			$	6,486,518	$	11,103		$	(715,324	)

All futures contracts held by Direxion BKT Fund Ltd.

Direxion Fallen Knives ETF

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 99.8%
	Accommodation - 5.0%
	3,160	Las Vegas Sands Corp. (a)	$	119,100
	Administrative and Support Services - 2.4%
	8,233	MultiPlan Corporation (a)		41,659
	4,993	Workhorse Group, Inc. (a)(b)		16,327
				57,986
	Ambulatory Health Care Services - 0.7%
	7,155	Invitae Corp. (a)(b)		13,595
	774	Tabula Rasa HealthCare, Inc. (a)		3,444
				17,039
	Chemical Manufacturing - 31.6%
	1,447	ADC Therapeutics SA ADR (a)		10,722
	8,652	Amicus Therapeutics, Inc. (a)		86,174
	2,309	Coherus BioSciences, Inc. (a)		19,557
	1,337	Forma Therapeutics Holdings, Inc. (a)		11,070
	1,456	Generation Bio Co. (a)		9,289
	1,730	Gossamer Bio, Inc. (a)		19,428
	2,676	Ionis Pharmaceuticals, Inc. (a)		100,511
	886	iTeos Therapeutics, Inc. (a)		21,672
	947	ORIC Pharmaceuticals Inc. (a)		3,466
	2,212	PTC Therapeutics, Inc. (a)		96,333
	1,616	Sage Therapeutics, Inc. (a)		55,607
	1,486	Sarepta Therapeutics, Inc. (a)		138,124
	1,908	Travere Therapeutics, Inc. (a)		44,914
	1,363	Turning Point Therapeutics, Inc. (a)		102,198
	1,333	uniQure N.V. ADR (Netherlands) (a)		33,791
				752,856
	Credit Intermediation and Related Activities - 0.7%
	347	LendingTree, Inc. (a)		15,816
	Food and Beverage Stores - 5.0%
	2,796	Grocery Outlet Holding Corp. (a)		119,445
	Food Manufacturing - 4.3%
	1,171	McCormick & Co, Inc.		102,287
	Hospitals - 0.0% †
	373	Ontrak, Inc. (a)		242
	Merchant Wholesalers, Durable Goods - 2.0%
	1,074	Silk Road Medical, Inc. (a)		48,878
	Merchant Wholesalers, Nondurable Goods - 4.6%
	1,971	Global Blood Therapeutics, Inc. (a)		64,491
	2,337	Relay Therapeutics, Inc. (a)		44,450
				108,941
	Mining (except Oil and Gas) - 1.5%
	7,265	NovaGold Resources Inc. ADR (Canada) (a)		35,453
	Miscellaneous Manufacturing - 6.5%
	5,458	Cerus Corp. (a)		29,473
	1,616	Haemonetics Corp. (a)		112,296
	7,186	Inovio Pharmaceuticals, Inc. (a)		14,228
				155,997
	Performing Arts, Spectator Sports, and Related Industries - 2.0%
	12,413	iQIYI, Inc. ADR (China) (a)		47,418
	Petroleum and Coal Products Manufacturing - 1.9%
	12,552	YPF Sociedad Anónima ADR (Argentina) (a)		46,568
	Printing and Related Support Activities - 0.8%
	2,191	Arko Corp.		20,004
	Professional, Scientific, and Technical Services - 8.8%
	2,507	Allogene Therapeutics, Inc. (a)		32,541
	1,831	Alteryx, Inc. (a)		88,675
	2,008	Kura Oncology, Inc. (a)		30,742
	1,047	Model N, Inc. (a)		26,301
	508	Simulations Plus, Inc.		32,588
				210,847
	Publishing Industries (except Internet) - 16.0%
	4,212	21Vianet Group, Inc. ADR (China) (a)		21,734
	1,065	Citrix Systems, Inc.		108,002
	1,532	Coupa Software, Inc. (a)		100,223
	3,460	Fastly, Inc. (a)		39,340
	1,069	Splunk, Inc. (a)		111,080
				380,379
	Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 5.3%
	3,516	Canoo Inc. (a)(b)		12,166
	3,652	GDS Holdings Ltd. ADR (China) (a)		101,087
	3,273	Hyliion Holdings Corp. (a)(b)		12,863
				126,116
	Telecommunications - 0.5%
	674	Bandwidth, Inc. (a)		11,209
	Transportation Equipment Manufacturing - 0.2%
	3,054	XL Fleet Corp. (a)		3,756
		TOTAL COMMON STOCKS (Cost $3,720,990)	$	2,380,337
	SHORT TERM INVESTMENTS - 2.1%
	Money Market Funds - 2.1%
	50,426	Dreyfus Government Cash Management Institutional Shares, 1.83% (c)(d)	$	50,426
		TOTAL SHORT TERM INVESTMENTS (Cost $50,426)	$	50,426
		TOTAL INVESTMENTS (Cost $3,771,416) - 101.9%	$	2,430,763
		Liabilities in Excess of Other Assets - (1.9)%		(46,648	)
		TOTAL NET ASSETS - 100.0%	$	2,384,115

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, 2022.

^(d)  All or a portion of this security represents an investment of securities lending collateral.

ADR - American Depository Receipt

Direxion Hydrogen ETF

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 99.1%
	Chemical Manufacturing - 42.8%
	15,457	Air Liquide S.A. (France) (a)	$	2,113,826
	4,863	Air Products & Chemicals, Inc.		1,207,143
	51,512	Air Water, Inc. (Japan) (a)		687,983
	49,731	Doosan Fuel Cell Co., Ltd (South Korea) (a)		1,259,449
	476,666	ITM Power (United Kingdom) (a)(b)		1,235,517
	6,183	Linde PLC ADR (Ireland)		1,867,266
	56,515	McPhy Energy SAS (France) (a)(b)		863,805
	47,198	Nippon Sanso Holdings Corp. (Japan) (a)		789,282
	729,439	PTT Global Chemical PCL (Thailand) (a)		876,872
	51,088	Showa Denko K.K. (Japan) (a)		847,071
				11,748,214
	Computer and Electronic Product Manufacturing - 8.5%
	115,106	Bloom Energy Corp.		2,328,594
	Electrical Equipment, Appliance, and Component Manufacturing - 16.6%
	116,730	Chung-Hsin Electric & Machinery Manufacturing Corp. (Taiwan) (a)		226,902
	3,122	Hyosung Heavy Industries (South Korea) (a)		144,192
	110,708	Plug Power, Inc. (b)		2,362,509
	70,608	PowerCell Sweden AB (Sweden) (a)		1,254,927
	6,281	SFC Energy AG (Germany) (a)		134,493
	5,497	VARTA AG (Germany) (a)(b)		443,917
				4,566,940
	Heavy and Civil Engineering Construction - 0.5%
	6,980	SK D&D Co., Ltd. (South Korea) (a)		138,354
	Merchant Wholesalers, Durable Goods - 0.5%
	3,659	Hyster-Yale Materials Handling, Inc.		126,565
	Miscellaneous Manufacturing - 1.5%
	159,416	Cell Impact AB (Sweden) (a)		290,838
	48,638	Hexagon Purus Holding AS (Norway) (a)		139,663
				430,501
	Oil and Gas Extraction - 9.3%
	128,905	CIMC Enric Holdings Limited (Hong Kong) (a)(b)		119,711
	310,781	ENEOS Holdings, Inc. (Japan) (a)		1,189,874
	48,024	Idemitsu Kosan Co., Ltd (Japan) (a)		1,232,490
				2,542,075
	Primary Metal Manufacturing - 0.5%
	55,839	Kaori Heat Treatment Co., Ltd. (Taiwan) (a)		146,586
	Transportation Equipment Manufacturing - 8.1%
	277,831	Ballard Power Systems, Inc. ADR (Canada) (b)		2,230,982
	Utilities - 10.8%
	159,873	Ceres Power Holdings PLC (United Kingdom) (a)		1,175,857
	322,272	FuelCell Energy, Inc.		1,156,957
	11,993	Korea Gas Corp. (South Korea) (a)		343,422
	16,017	S-Fuelcell Co., Ltd. (South Korea) (a)		278,026
				2,954,262
		TOTAL COMMON STOCKS (Cost $36,013,917)	$	27,213,073
	SHORT TERM INVESTMENTS - 10.2%
	Money Market Funds - 10.2%
	2,789,063	Dreyfus Government Cash Management Institutional Shares, 1.83% (c)(d)	$	2,789,063
		TOTAL SHORT TERM INVESTMENTS (Cost $2,789,063)	$	2,789,063
		TOTAL INVESTMENTS (Cost $38,802,980) - 109.3%	$	30,002,136
		Liabilities in Excess of Other Assets - (9.3)%		(2,558,137	)
		TOTAL NET ASSETS - 100.0%	$	27,443,999

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, 2022.

^(d)  All or a portion of this security represents an investment of securities lending collateral.

ADR - American Depository Receipt

Direxion Low Priced Stock ETF

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 99.9%
	Ambulatory Health Care Services - 1.3%
	10,338	Invitae Corp. (a)	$	19,642
	Chemical Manufacturing - 12.4%
	6,135	bluebird bio, Inc. (a)		24,847
	9,214	Clovis Oncology, Inc. (a)		15,387
	9,480	CymaBay Therapeutics, Inc. (a)		29,673
	11,126	Gevo, Inc. (a)		32,710
	6,598	MannKind Corp. (a)		22,763
	9,984	OPKO Health, Inc. (a)		23,562
	8,336	Tilray Brands, Inc. (a)		30,426
				179,368
	Clothing and Clothing Accessories Retailers - 2.2%
	5,359	Stitch Fix, Inc. (a)		31,993
	Computer and Electronic Product Manufacturing - 6.8%
	12,504	Avaya Holdings Corp. (a)		11,236
	6,716	Casa Systems, Inc. (a)		29,685
	5,981	IonQ, Inc. (a)		32,297
	5,874	Pacific Biosciences of California, Inc. (a)		25,669
				98,887
	Electrical Equipment, Appliance, and Component Manufacturing - 2.1%
	11,222	Advent Technologies Holdings, Inc. (a)		30,636
	Furniture, Home Furnishings, Electronics, and Appliance Retailers - 1.9%
	5,575	Bed Bath & Beyond, Inc. (a)		28,042
	General Merchandise Retailers - 3.6%
	12,045	Aterian, Inc. (a)		27,463
	9,055	Qurate Retail, Inc.		24,720
				52,183
	Insurance Carriers and Related Activities - 2.1%
	7,214	Genworth Financial, Inc. Class A (a)		30,660
	Management of Companies and Enterprises - 1.9%
	11,367	BlackSky Technology, Inc. (a)		27,167
	Merchant Wholesalers, Nondurable Goods - 1.9%
	7,815	Amneal Pharmaceuticals, Inc. (a)		27,665
	Mining (except Oil and Gas) - 4.2%
	8,553	Coeur Mining, Inc. (a)		27,455
	7,933	Uranium Energy Corp. (a)(b)		33,319
				60,774
	Motion Picture and Sound Recording Industries - 1.8%
	10,631	fuboTV, Inc. (a)		26,684
	Oil and Gas Extraction - 6.9%
	5,746	Clean Energy Fuels Corp. (a)		37,234
	8,782	Tellurian, Inc. (a)		32,669
	6,092	W&T Offshore, Inc. (a)		30,277
				100,180
	Professional, Scientific, and Technical Services - 12.5%
	12,328	22nd Century Group, Inc. (a)		20,711
	6,548	Compass, Inc. (a)		25,013
	10,851	ironSource Ltd. ADR (Israel) (a)		42,319
	5,941	NextDecade Corp. (a)(b)		42,003
	6,193	Riot Blockchain, Inc. (a)		45,333
	12,213	Sorrento Therapeutics Inc. (a)		31,754
				207,133
	Real Estate - 5.7%
	9,246	New York Mortgage Trust, Inc.		29,032
	5,348	Two Harbors Investment Corp. (a)		28,772
				57,804
	Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 22.5%
	7,481	BGC Partners, Inc.		27,306
	11,670	Clover Health Investments Corp. (a)		32,676
	12,504	Desktop Metal, Inc. (a)(b)		26,634
	5,771	EQRx, Inc. (a)(b)		31,452
	11,033	Ginkgo Bioworks Holdings, Inc. Class A (a)(b)		31,554
	5,359	Joby Aviation, Inc. (a)		29,689
	7,254	Matterport, Inc. (a)		30,830
	6,598	Payoneer Global, Inc. (a)		35,233
	6,910	Rocket Lab USA, Inc. (a)		32,270
	5,941	Roivant Sciences Ltd. ADR (a)		23,645
	5,283	WeWork, Inc. (a)		25,200
				326,489
	Support Activities for Mining - 3.9%
	6,548	Hecla Mining Co. (a)		29,663
	7,885	Transocean Ltd. ADR (Switzerland)(a)		26,651
				56,314
	Transportation Equipment Manufacturing - 2.4%
	5,563	Nikola Corp. (a)		34,602
	Utilities - 1.7%
	6,947	FuelCell Energy, Inc. (a)		24,940
	Water Transportation - 2.1%
	12,685	Nordic American Tankers Ltd. ADR		30,444
		TOTAL COMMON STOCKS (Cost $1,486,842)	$	1,451,607
	SHORT TERM INVESTMENTS - 16.9%
	Money Market Funds - 16.9%
	246,079	Dreyfus Government Cash Management Institutional Shares, 1.83% (c)(d)	$	246,079
		TOTAL SHORT TERM INVESTMENTS (Cost $246,079)	$	246,079
		TOTAL INVESTMENTS (Cost $1,732,921) - 116.8%	$	1,697,686
		Liabilities in Excess of Other Assets - (16.8)%		(245,050	)
		TOTAL NET ASSETS - 100.0%	$	1,452,636

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, 2022.

^(d)  All or a portion of this security represents an investment of securities lending collateral.

ADR - American Depository Receipt

Direxion Moonshot Innovators ETF

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 99.7%
	Administrative and Support Services - 4.7%
	28,135	Roblox Corp. (a)	$	1,207,835
	39,831	SentinelOne, Inc. (a)		989,800
				2,197,635
	Ambulatory Health Care Services - 1.4%
	349,770	Invitae Corp. (a)(b)		664,563
	Chemical Manufacturing - 7.0%
	62,517	Arcturus Therapeutics Holdings, Inc. (a)		1,097,173
	108,233	BridgeBio Pharma, Inc. (a)		937,298
	18,931	Intellia Therapeutics, Inc. (a)		1,225,972
				3,260,443
	Computer and Electronic Product Manufacturing - 16.1%
	14,245	Ambarella Inc. ADR (a)		1,232,905
	156,486	Indie Semiconductor, Inc. (a)		1,126,699
	244,155	MicroVision, Inc. (a)(b)		1,257,398
	311,984	Nano Dimension Ltd. ADR (Israel) (a)(b)		1,026,428
	117,805	Ondas Holdings, Inc. (a)(b)		539,547
	151,106	Vuzix Corp. (a)(b)		1,234,536
	66,858	Xperi Holdings, Corp.		1,120,540
				7,538,053
	Electronics and Appliance Stores - 1.9%
	47,304	UiPath, Inc. (a)		867,082
	Food Services and Drinking Places - 2.2%
	34,176	Yelp, Inc. (a)		1,047,836
	Management of Companies and Enterprises - 2.0%
	71,724	CureVac N.V. ADR (Netherlands) (a)(b)		932,412
	Merchant Wholesalers, Nondurable Goods - 0.9%
	143,777	Atara Biotherapeutics, Inc. (a)		435,644
	Miscellaneous Manufacturing - 2.2%
	518,366	Inovio Pharmaceuticals, Inc. (a)		1,026,365
	Nonstore Retailers - 1.7%
	146,507	Jumia Technologies AG ADR (Germany) (a)(b)		807,254
	Oil and Gas Extraction - 1.7%
	878,955	Meta Materials, Inc. (a)		791,059
	Printing and Related Support Activities - 2.3%
	110,119	Fisker, Inc. (a)(b)		1,054,940
	Professional, Scientific, and Technical Services - 16.0%
	49,578	Asana, Inc. (a)		957,847
	60,610	Avidity Biosciences, Inc. (a)		987,337
	85,794	Local Bounti Corp. (a)(b)		332,023
	10,395	Okta, Inc. (a)		1,023,388
	104,763	Sarcos Technology and Robotics Corp. (a)(b)		350,956
	45,763	Squarespace, Inc. (a)		973,379
	117,682	Tusimple Holdings, Inc. (a)(b)		1,172,113
	22,788	Unity Software, Inc. (a)(b)		852,043
	145,642	Vimeo, Inc. (a)		809,769
				7,458,855
	Publishing Industries (except Internet) - 3.9%
	52,546	C3.ai, Inc. (a)(b)		967,372
	77,087	Fastly, Inc. (a)		876,479
				1,843,851
	Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 35.2%
	258,947	Aeva Technologies, Inc. (a)(b)		914,083
	371,730	AEye, Inc. (a)		832,675
	461,553	Aurora Innovation, Inc. (a)		1,172,345
	262,292	Benson Hill, Inc. (a)		852,449
	315,885	Butterfly Network, Inc. (a)(b)		1,370,941
	437,575	Desktop Metal, Inc. (a)(b)		932,035
	362,286	Ginkgo Bioworks Holdings, Inc. Class A (a)(b)		1,036,138
	277,697	Hyliion Holdings Corp. (a)(b)		1,091,349
	303,552	Hyzon Motors, Inc. (a)(b)		1,220,279
	253,972	Inoviz Technologies Ltd. ADR (Israel) (a)		1,020,968
	815,176	Latch, Inc. (a)		978,211
	577,613	Ouster, Inc. (a)		1,016,599
	166,915	Pear Therapeutics, Inc. (a)		248,703
	207,555	Planet Labs PBC (a)(b)		1,106,268
	141,497	Roivant Sciences Ltd. ADR (a)		563,158
	894,513	Velodyne Lidar, Inc. (a)		939,239
	152,244	Virgin Galactic Holdings, Inc. (a)(b)		1,132,695
				16,428,135
	Transportation Equipment Manufacturing - 0.5%
	122,786	Xos, Inc. (a)		219,787
		TOTAL COMMON STOCKS (Cost $70,050,030)	$	46,573,914
	SHORT TERM INVESTMENTS - 30.0%
	Money Market Funds - 30.0%
	14,000,413	Dreyfus Government Cash Management Institutional Shares, 1.83% (c)(d)	$	14,000,413
		TOTAL SHORT TERM INVESTMENTS (Cost $14,000,413)	$	14,000,413
		TOTAL INVESTMENTS (Cost $84,050,443) - 129.7%	$	60,574,327
		Liabilities in Excess of Other Assets - (29.7)%		(13,852,146	)
		TOTAL NET ASSETS - 100.0%	$	46,722,181

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, 2022.

^(d)  All or a portion of this security represents an investment of securities lending collateral.

ADR - American Depository Receipt

Direxion mRNA ETF

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 99.5%
	Chemical Manufacturing - 55.9%
	1,196	Alnylam Pharmaceuticals, Inc. (a)	$	169,880
	60,347	Arbutus Biopharma Corp. ADR (Canada) (a)		139,402
	10,456	Arcturus Therapeutics Holdings, Inc. (a)		183,503
	997	BeiGene Ltd. ADR (a)		167,576
	3,129	Intellia Therapeutics, Inc. (a)		202,634
	4,440	Ionis Pharmaceuticals, Inc. (a)		166,766
	5,747	Maravai LifeSciences Holdings, Inc. (a)		149,939
	39,479	Sangamo Therapeutics, Inc. (a)		169,365
	2,480	Sarepta Therapeutics, Inc. (a)		230,516
	11,694	Stoke Therapeutics, Inc. (a)		172,954
	915	Vertex Pharmaceuticals, Inc. (a)		256,575
				2,009,110
	Management of Companies and Enterprises - 4.3%
	11,866	CureVac N.V. ADR (Netherlands) (a)		154,258
	Merchant Wholesalers, Durable Goods - 4.6%
	15,969	Dyne Therapeutics, Inc. (a)		167,515
	Professional, Scientific, and Technical Services - 34.7%
	4,699	Arrowhead Pharmaceuticals, Inc. (a)		199,848
	10,160	Avidity Biosciences, Inc. (a)		165,506
	899	BioNTech SE ADR (Germany)		148,470
	29,183	Enochian Biosciences, Inc. (a)(b)		67,121
	68,688	Gritstone bio, Inc. (a)(b)		174,467
	1,753	Moderna, Inc. (a)		287,650
	78,591	Sorrento Therapeutics Inc. (a)		204,337
				1,247,399
		TOTAL COMMON STOCKS (Cost $4,482,956)	$	3,578,282
	SHORT TERM INVESTMENTS - 2.2%
	Money Market Funds - 2.2%
	79,874	Dreyfus Government Cash Management Institutional Shares, 1.83% (c)(d)	$	79,874
		TOTAL SHORT TERM INVESTMENTS (Cost $79,874)	$	79,874
		TOTAL INVESTMENTS (Cost $4,562,830) - 101.7%	$	3,658,156
		Liabilities in Excess of Other Assets - (1.7)%		(63,018	)
		TOTAL NET ASSETS - 100.0%	$	3,595,138

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, 2022.

^(d)  All or a portion of this security represents an investment of securities lending collateral.

ADR - American Depository Receipt

Direxion Nanotechnology ETF

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 99.8%
	Chemical Manufacturing - 39.4%
	909	Aadi Bioscience, Inc. (a)	$	11,244
	1,407	Alkermes PLC (Ireland) (a)		36,019
	321	Alnylam Pharmaceuticals, Inc. (a)		45,595
	4,612	Arcturus Therapeutics Holdings, Inc. (a)		80,941
	5,543	Beam Therapeutics, Inc. (a)		349,098
	595	Cabot Corp.		44,185
	4,106	Generation Bio Co. (a)		26,196
	869	Intellia Therapeutics, Inc. (a)		56,276
	278	Jazz Pharmaceuticals PLC ADR (Ireland) (a)		43,385
				692,939
	Computer and Electronic Product Manufacturing - 40.3%
	356	AMETEK, Inc.		43,966
	60,844	Bionano Genomics, Inc. (a)		113,170
	3,104	Bruker Corp.		212,779
	166	Danaher Corp.		48,384
	27,413	Nano Dimension Ltd. ADR (Israel) (a)		90,189
	2,740	NeoPhotonics Corp. (a)		43,813
	220	NVE Corp.		12,082
	4,429	Seer, Inc. (a)		39,861
	76	Thermo Fisher Scientific, Inc.		45,479
	7,291	Vuzix Corp. (a)		59,567
				709,290
	Machinery Manufacturing - 5.2%
	226	IDEX Corp.		47,177
	88	Lam Research Corp.		44,045
				91,222
	Merchant Wholesalers, Durable Goods - 2.7%
	122	KLA-Tencor Corp.		46,792
	Merchant Wholesalers, Nondurable Goods - 0.5%
	2,153	PDS Biotechnology Corp. (a)		9,215
	Miscellaneous Manufacturing - 2.7%
	2,091	AngioDynamics, Inc. (a)		47,445
	Oil and Gas Extraction - 1.7%
	33,790	Meta Materials, Inc. (a)		30,411
	Professional, Scientific, and Technical Services - 6.5%
	247	BioNTech SE ADR (Germany)		40,792
	5,143	Liquidia Technologies, Inc. (a)		25,227
	290	Moderna, Inc. (a)		47,586
				113,605
	Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 0.8%
	4,192	Roivant Sciences Ltd. ADR (a)		16,684
		TOTAL COMMON STOCKS (Cost $2,101,139)	$	1,757,603
	SHORT TERM INVESTMENTS - 0.1%
	Money Market Funds - 0.1%
	2,403	Dreyfus Government Cash Management Institutional Shares, 1.83% (b)	$	2,403
		TOTAL SHORT TERM INVESTMENTS (Cost $2,403)	$	2,403
		TOTAL INVESTMENTS (Cost $2,103,542) - 99.9%	$	1,760,006
		Other Assets in Excess of Liabilities - 0.1%		380
		TOTAL NET ASSETS - 100.0%	$	1,760,386

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, 2022.

ADR - American Depository Receipt

Direxion NASDAQ-100^® Equal Weighted Index Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 99.9%
	Accommodation - 1.0%
	47,805	Marriott International, Inc. Class A	$	7,592,390
	Administrative and Support Services - 3.0%
	38,887	Atlassian Corp. PLC ADR (United Kingdom) (a)		8,139,827
	34,659	Automatic Data Processing, Inc.		8,356,978
	3,641	Booking Holdings, Inc. (a)		7,047,847
				23,544,652
	Apparel Manufacturing - 1.0%
	24,969	Lululemon Athletica, Inc. (a)		7,753,124
	Beverage and Tobacco Product Manufacturing - 2.9%
	202,099	Keurig Dr Pepper, Inc.		7,829,315
	78,784	Monster Beverage Corp. (a)		7,848,462
	44,200	PepsiCo, Inc.		7,733,232
				23,411,009
	Broadcasting and Content Providers - 2.7%
	15,709	Charter Communications, Inc. (a)		6,787,859
	179,334	Comcast Corp. Class A		6,728,611
	1,186,716	Sirius XM Holdings, Inc. (b)		7,927,263
				21,443,733
	Chemical Manufacturing - 6.5%
	29,579	Amgen, Inc.		7,319,915
	113,642	AstraZeneca PLC ADR		7,526,510
	34,410	Biogen, Inc. (a)		7,400,214
	118,616	Gilead Sciences, Inc.		7,087,306
	11,940	Regeneron Pharmaceuticals, Inc. (a)		6,945,379
	41,955	Seagen, Inc. (a)		7,551,061
	26,390	Vertex Pharmaceuticals, Inc. (a)		7,400,020
				51,230,405
	Clothing, Clothing Accessories, Shoe, and Jewelry Retailers - 0.9%
	92,868	Ross Stores, Inc.		7,546,454
	Computer and Electronic Product Manufacturing - 18.1%
	85,116	Advanced Micro Devices, Inc. (a)		8,040,908
	48,006	Analog Devices, Inc.		8,255,112
	52,776	Apple, Inc.		8,576,628
	13,920	Broadcom, Inc.		7,453,882
	159,989	Cisco Systems, Inc.		7,258,701
	129,055	Fortinet, Inc. (a)		7,698,131
	38,640	Honeywell International, Inc.		7,436,654
	21,164	IDEXX Laboratories, Inc. (a)		8,448,245
	37,073	Illumina, Inc. (a)		8,032,978
	187,774	Intel Corp.		6,818,074
	150,788	Marvell Technology, Inc.		8,395,876
	120,523	Microchip Technology, Inc.		8,299,214
	124,531	Micron Technology, Inc.		7,703,488
	43,719	NVIDIA Corp.		7,940,682
	43,984	NXP Semiconductors N.V. ADR (Netherlands)		8,087,778
	57,381	Qualcomm, Inc.		8,323,688
	76,999	Skyworks Solutions, Inc.		8,383,651
	46,222	Texas Instruments, Inc.		8,268,653
				143,422,343
	Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services - 1.0%
	77,874	Fiserv, Inc. (a)		8,229,724
	Food Manufacturing - 1.9%
	118,059	Mondelez International, Inc.		7,560,498
	195,125	The Kraft Heinz Co.		7,186,454
				14,746,952
	Food Services and Drinking Places - 2.1%
	19,991	Cintas Corp.		8,505,971
	96,593	Starbucks Corp.		8,189,154
				16,695,125
	General Merchandise Retailers - 6.8%
	65,358	Amazon.com, Inc. (a)		8,820,062
	15,537	Costco Wholesale Corp.		8,410,178
	46,253	Dollar Tree, Inc. (a)		7,648,396
	164,469	eBay, Inc.		7,998,127
	106,423	JD.com, Inc. ADR (China)		6,332,168
	10,929	MercadoLibre, Inc. (a)		8,893,037
	117,675	Pinduoduo, Inc. ADR (China) (a)		5,767,252
				53,869,220
	Health and Personal Care Retailers - 0.9%
	176,556	Walgreens Boots Alliance, Inc.		6,995,149
	Machinery Manufacturing - 3.1%
	77,277	Applied Materials, Inc.		8,189,817
	14,659	ASML Holding NV ADR (Netherlands)		8,420,716
	16,557	Lam Research Corp.		8,286,944
				24,897,477
	Merchant Wholesalers, Durable Goods - 3.1%
	66,141	Copart, Inc. (a)		8,472,662
	143,206	Fastenal Co.		7,355,060
	22,262	KLA-Tencor Corp.		8,538,368
				24,366,090
	Miscellaneous Manufacturing - 3.1%
	29,608	Align Technology, Inc. (a)		8,318,960
	100,892	DexCom, Inc. (a)		8,281,215
	36,150	Intuitive Surgical, Inc. (a)		8,320,646
				24,920,821
	Motion Picture and Sound Recording Industries - 1.1%
	39,562	Netflix, Inc. (a)		8,897,494
	Motor Vehicle and Parts Dealers - 1.0%
	11,833	O’Reilly Automotive, Inc. (a)		8,325,580
	Performing Arts, Spectator Sports, and Related Industries - 1.8%
	92,924	Activision Blizzard, Inc.		7,429,274
	54,007	Electronic Arts, Inc.		7,087,338
				14,516,612
	Personal and Laundry Services - 0.9%
	101,274	Match Group, Inc. (a)		7,424,397
	Professional, Scientific, and Technical Services - 8.8%
	104,388	Cognizant Technology Solutions Corp. Class A		7,094,208
	42,395	Meta Platforms, Inc. (a)		6,745,045
	54,222	Moderna, Inc. (a)		8,897,288
	83,983	Okta, Inc. (a)		8,268,126
	14,602	Palto Alto Networks, Inc. (a)		7,287,858
	61,442	Paychex, Inc.		7,881,780
	44,058	VeriSign, Inc. (a)		8,334,011

42,895	Verisk Analytics, Inc. Class A		8,160,774
48,130	Zscaler, Inc. (a)		7,463,038
			70,132,128
Publishing Industries - 12.4%
19,233	Adobe Systems, Inc. (a)		7,887,838
29,846	ANSYS, Inc. (a)		8,326,736
41,386	Autodesk, Inc. (a)		8,952,619
48,517	Cadence Design Systems, Inc. (a)		9,028,043
42,358	CrowdStrike Holdings, Inc. (a)		7,776,929
81,074	Datadog, Inc. (a)		8,270,359
114,646	DocuSign, Inc. (a)		7,335,051
18,769	Intuit, Inc.		8,561,855
28,031	Microsoft Corp.		7,869,423
78,275	Splunk, Inc. (a)		8,133,555
23,441	Synopsys, Inc. (a)		8,614,567
49,815	Workday, Inc. (a)		7,726,307
			98,483,282
Rail Transportation - 1.0%
239,973	CSX Corp.		7,758,327
Rental and Leasing Services - 1.0%
69,771	Airbnb, Inc. (a)		7,743,186
Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 1.0%
417,461	Lucid Group, Inc. (a)(b)		7,618,663
Specialty Trade Contractors - 0.9%
74,509	NetEase.com, Inc. ADR (China)		6,927,847
Telecommunications - 2.8%
95,229	PayPal Holdings, Inc. (a)		8,240,165
54,413	T-Mobile US, Inc. (a)		7,784,324
63,110	Zoom Video Communications, Inc. (a)		6,554,605
			22,579,094
Transportation Equipment Manufacturing - 2.2%
84,744	Paccar, Inc.		7,755,771
10,678	Tesla Motors, Inc. (a)		9,518,903
			17,274,674
Truck Transportation - 1.1%
29,904	Old Dominion Freight Line, Inc.		9,076,163
Utilities - 4.0%
78,529	American Electric Power Co., Inc.		7,739,818
119,497	Constellation Energy Corp.		7,898,752
169,696	Exelon Corp.		7,889,167
108,628	Xcel Energy, Inc.		7,949,397
			31,477,134
Web Search Portals, Libraries, Archives, and Other Information Services - 1.8%
32,392	Alphabet, Inc. Class A (a)		3,767,837
32,176	Alphabet, Inc. Class C (a)		3,753,009
49,649	Baidu, Inc. ADR (China) (a)		6,780,564
			14,301,410
	TOTAL COMMON STOCKS (Cost $828,844,071)	$	793,200,659
SHORT TERM INVESTMENTS - 1.8%
Money Market Funds - 1.8%
13,908,406	Dreyfus Government Cash Management Institutional Shares, 1.83% (c)(d)	$	13,908,406
	TOTAL SHORT TERM INVESTMENTS (Cost $13,908,406)	$	13,908,406
	TOTAL INVESTMENTS (Cost $842,752,477) - 101.7%	$	807,109,065
	Liabilities in Excess of Other Assets - (1.7)%		(13,079,654	)
	TOTAL NET ASSETS - 100.0%	$	794,029,411

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, 2022.

^(d)  All or a portion of this security represents an investment of securities lending collateral.

ADR - American Depository Receipt

Direxion Work From Home ETF

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 99.7%
	Administrative and Support Services - 7.4%
	15,338	Alibaba Group Holding Ltd. ADR (a)	$	1,370,757
	5,228	Atlassian Corp. PLC ADR (United Kingdom) (a)		1,094,325
	37,805	SentinelOne, Inc. (a)		939,454
				3,404,536
	Computer and Electronic Product Manufacturing - 24.0%
	118,543	Avaya Holdings Corp. (a)		106,523
	2,760	Broadcom, Inc.		1,477,925
	28,796	Cisco Systems, Inc.		1,306,474
	23,446	Fortinet, Inc. (a)		1,398,554
	13,055	International Business Machines Corp.		1,707,463
	23,895	Marvell Technology, Inc.		1,330,474
	19,937	NetApp, Inc.		1,422,106
	57,296	Plantronics, Inc (a)		2,279,808
				11,029,327
	Data Processing, Hosting and Related Services - 1.4%
	12,856	RingCentral, Inc. (a)		636,244
	Electronics and Appliance Stores - 2.0%
	30,670	Smartsheet, Inc. (a)		921,940
	Management of Companies and Enterprises - 3.6%
	86,931	America Movil SAB de CV Series L ADR (Mexico)		1,645,604
	Nonstore Retailers - 3.1%
	10,633	Amazon.com, Inc. (a)		1,434,923
	Other Information Services - 3.0%
	12,015	Alphabet, Inc. Class A (a)		1,397,585
	Professional, Scientific, and Technical Services - 13.4%
	336,157	Inseego Corp. (a)(b)		749,630
	7,770	Meta Platforms, Inc. (a)		1,236,207
	59,314	Nutanix, Inc. (a)		897,421
	8,851	Okta, Inc. (a)		871,381
	2,778	Palto Alto Networks, Inc. (a)		1,386,500
	6,355	Zscaler, Inc. (a)		985,406
				6,126,545
	Publishing Industries (except Internet) - 37.4%
	3,431	Adobe Systems, Inc. (a)		1,407,122
	144,625	Agora, Inc. ADR (a)		710,109
	62,189	Box, Inc. (a)		1,768,655
	8,015	CrowdStrike Holdings, Inc. (a)		1,471,554
	9,569	CyberArk Software Ltd. ADR (Israel) (a)		1,245,214
	14,134	DocuSign, Inc. (a)		904,293
	121,572	Exela Technologies, Inc. (a)		172,632
	5,386	Microsoft Corp.		1,512,066
	20,655	Oracle Corp.		1,607,785
	75,416	Ping Identity Holding Corp. (a)		1,293,384
	35,780	Progress Software Corp.		1,680,229
	314,575	Tuya, Inc. ADR (a)		569,381
	9,736	Twilio, Inc. (a)		825,613
	87,307	Upland Software, Inc. (a)		988,315
	6,509	Workday, Inc. (a)		1,009,546
				17,165,898
	Telecommunications - 4.4%
	126,321	8x8 Inc. (a)		617,710
	13,296	Zoom Video Communications, Inc. (a)		1,380,922
				1,998,632
		TOTAL COMMON STOCKS (Cost $67,857,004)	$	45,761,234
	SHORT TERM INVESTMENTS - 0.9%
	Money Market Funds - 0.9%
	409,090	Dreyfus Government Cash Management Institutional Shares, 1.83% (c)(d)	$	409,090
		TOTAL SHORT TERM INVESTMENTS (Cost $409,090)	$	409,090
		TOTAL INVESTMENTS (Cost $68,266,094) - 100.6%	$	46,170,324
		Liabilities in Excess of Other Assets - (0.6)%		(294,228	)
		TOTAL NET ASSETS - 100.0%	$	45,876,096

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, 2022.

^(d)  All or a portion of this security represents an investment of securities lending collateral.

ADR - American Depository Receipt

Direxion World Without Waste ETF

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 99.9%
	Administrative and Support Services - 5.8%
	316	Atlassian Corp. PLC ADR (United Kingdom) (a)	$	66,145
	1,211	Cloudflare, Inc. (a)		60,937
	435	Waste Management, Inc.		71,584
				198,666
	Chemical Manufacturing - 2.0%
	414	Ecolab, Inc.		68,380
	Clothing, Clothing Accessories, Shoe, and Jewelry Retailers - 2.1%
	698	Etsy, Inc. (a)		72,397
	Computer and Electronic Product Manufacturing - 7.2%
	3,836	Bloom Energy Corp. (a)		77,603
	307	Enphase Energy, Inc. (a)		87,243
	3,973	SunPower Corp. (a)		80,930
				245,776
	Data Processing, Hosting and Related Services - 2.0%
	625	Airbnb, Inc. (a)		69,363
	Machinery Manufacturing - 2.1%
	1,872	Evoqua Water Technologies (a)		71,342
	Merchant Wholesalers, Durable Goods - 8.1%
	5,826	Cars.com, Inc. (a)		68,514
	546	Copart, Inc. (a)		69,943
	3,980	KAR Auction Services, Inc. (a)		68,058
	1,958	Schnitzer Steel Industries, Inc.		69,626
				276,141
	Motion Picture and Sound Recording Industries - 2.0%
	302	Netflix, Inc. (a)		67,920
	Motor Vehicle and Parts Dealers - 1.5%
	34,657	Vroom, Inc. (a)(b)		51,639
	Nonstore Retailers - 9.9%
	2,693	CarGurus, Inc. (a)		65,413
	1,449	eBay, Inc.		70,465
	11,097	Jumia Technologies AG ADR (Germany) (a)		61,144
	86	MercadoLibre, Inc. (a)		69,979
	30,859	ThredUp, Inc. (a)		69,433
				336,434
	Professional, Scientific, and Technical Services - 6.9%
	369	Meta Platforms, Inc. (a)		58,708
	147	ServiceNow, Inc. (a)		65,659
	4,133	Snap, Inc. (a)		40,834
	366	Verisk Analytics, Inc. Class A		69,631
				234,832
	Publishing Industries - 13.8%
	165	Adobe Systems, Inc. (a)		67,670
	339	Autodesk, Inc. (a)		73,332
	358	CrowdStrike Holdings, Inc. (a)		65,729
	668	Datadog, Inc. (a)		68,143
	156	Intuit, Inc.		71,162
	365	Salesforce.com, Inc. (a)		67,167
	1,673	Shopify, Inc. ADR (Canada) (a)		58,271
				471,474
	Publishing Industries (except Internet) - 6.1%
	620	Thomson Reuters Corp. ADR (Canada)		69,613
	315	Veeva Systems, Inc. (a)		70,428
	451	Workday, Inc. (a)		69,950
				209,991
	Repair and Maintenance - 2.0%
	2,504	GFL Environmental, Inc. ADR (Canada)		69,236
	Specialty Trade Contractors - 2.6%
	2,751	Sunrun, Inc. (a)		89,930
	Telecommunications - 1.9%
	610	Zoom Video Communications, Inc. (a)		63,355
	Transit and Ground Passenger Transportation - 1.9%
	2,789	Uber Technologies, Inc. (a)		65,402
	Transportation Equipment Manufacturing - 2.2%
	83	Tesla Motors, Inc. (a)		73,990
	Utilities - 13.5%
	2,101	Atlantica Sustainable Infrastructure PLC ADR (United Kingdom)		74,921
	1,402	Essential Utilities, Inc.		72,820
	922	First Solar, Inc. (a)		91,435
	646	IDACORP, Inc.		72,171
	919	NextEra Energy Partners LP		76,038
	850	Ormat Technologies, Inc.		73,559
				460,944
	Waste Management and Remediation Services - 6.3%
	894	Casella Waste Systems, Inc (a)		72,369
	732	Clean Harbors, Inc. (a)		71,436
	515	Republic Services, Inc.		71,410
				215,215
		TOTAL COMMON STOCKS (Cost $4,138,299)	$	3,412,427
	SHORT TERM INVESTMENTS - 1.2%
	Money Market Funds - 1.2%
	40,515	Dreyfus Government Cash Management Institutional Shares, 1.83% (c)(d)	$	40,515
		TOTAL SHORT TERM INVESTMENTS (Cost $40,515)	$	40,515
		TOTAL INVESTMENTS (Cost $4,178,814) - 101.1%	$	3,452,942
		Liabilities in Excess of Other Assets - (1.1)%		(37,619	)
		TOTAL NET ASSETS - 100.0%	$	3,415,323

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, 2022.

^(d)  All or a portion of this security represents an investment of securities lending collateral.

ADR - American Depository Receipt

Direxion Russell 1000^® Growth Over Value ETF

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	INVESTMENT COMPANIES - 95.0%
	38,273	iShares Russell 1000 Growth ETF (a)(b)	$	9,383,391
		TOTAL INVESTMENT COMPANIES (Cost $10,765,486)	$	9,383,391
	SHORT TERM INVESTMENTS - 27.2%
	Money Market Funds - 27.2%
	2,655,954	Dreyfus Government Cash Management Institutional Shares, 1.83% (c)(d)	$	2,655,954
	31,137	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (c)		31,137
		TOTAL SHORT TERM INVESTMENTS (Cost $2,687,091)	$	2,687,091
		TOTAL INVESTMENTS (Cost $13,452,577) - 122.2% (e)	$	12,070,482
		Liabilities in Excess of Other Assets - (22.2)%		(2,195,496	)
		TOTAL NET ASSETS - 100.0%	$	9,874,986

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, 2022.

^(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 $4,451,062.

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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 Russell 1000® Growth Index	2.0500 % representing 1 month SOFR rate + spread	Credit Suisse International	12/07/2022		2,203	$	6,120,544	$	(665,978	)

Short Total Return Swap Contracts (Unaudited)

July 31, 2022

Terms of Payments to be Received at Termination	Terms of Payments to be Paid at Termination	Counterparty	Termination Date	Contracts		Notional Amount		Unrealized Appreciation
1.7200 % representing 1 month SOFR rate + spread	Total return of Russell 1000® Value Index	Credit Suisse International	12/07/2022		3,248	$	5,094,490	$	95,862

Direxion Russell 1000^® Value Over Growth ETF

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	INVESTMENT COMPANIES - 97.7%
	101,023	iShares Russell 1000 Value ETF (a)	$	15,611,084
		TOTAL INVESTMENT COMPANIES (Cost $16,459,777)	$	15,611,084
	SHORT TERM INVESTMENTS - 4.0%
	Money Market Funds - 4.0%
	622,111	Dreyfus Government Cash Management Institutional Shares, 1.83% (b)	$	622,111
	15,414	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (b)		15,414
		TOTAL SHORT TERM INVESTMENTS (Cost $637,525)	$	637,525
		TOTAL INVESTMENTS (Cost $17,097,302) - 101.7% (c)	$	16,248,609
		Liabilities in Excess of Other Assets - (1.7)%		(265,401	)
		TOTAL NET ASSETS - 100.0%	$	15,983,208

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, 2022.

^(c)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $6,421,764.

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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 Russell 1000® Value Index	1.9100% representing 1 month SOFR rate + spread	Credit Suisse International		12/7/2022		5,503	$	8,805,023	$	(338,757	)

Short Total Return Swap Contracts (Unaudited)

July 31, 2022

Terms of Payments to be Received at Termination	Terms of Payments to be Paid at Termination	Counterparty	Termination Date	Contracts		Notional Amount		Unrealized Depreciation
1.7900% representing 1 month SOFR rate + spread	Total return of Russell 1000® Growth Index	Credit Suisse International	12/8/2022		3,242	$	7,932,993	$	(111,231	)

Direxion Daily CSI 300 China A Share Bear 1X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	SHORT TERM INVESTMENTS - 99.9%
	Money Market Funds - 99.9%
	136,596,965	Dreyfus Government Cash Management Institutional Shares, 1.83% (a)	$	136,596,965
	15,272,018	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (a)		15,272,018
		TOTAL SHORT TERM INVESTMENTS (Cost $151,868,983) (b)	$	151,868,983
		TOTAL INVESTMENTS (Cost $151,868,983) - 99.9%	$	151,868,983
		Other Assets in Excess of Liabilities - 0.1%		94,451
		TOTAL NET ASSETS - 100.0%	$	151,963,434

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, 2022.

^(b)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $28,230,435.

Short Total Return Swap Contracts (Unaudited)

July 31, 2022

Terms of Payments to be Received/(Paid) at  Termination	Terms of Payments to be Paid at Termination	Counterparty	Termination Date		Contracts		Notional Amount		Unrealized Appreciation (Depreciation)
(1.6700)% representing 1 month SOFR rate + spread	Total return of Deutsche Xtrackers Harvest CSI 300 China A-Shares ETF	Citibank N.A.		12/13/2022		1,584,465	$	49,565,385	$	(198,342	)
(4.9700)% representing 1 month SOFR rate + spread	Total return of Deutsche Xtrackers Harvest CSI 300 China A-Shares ETF	Bank of America Merrill Lynch		12/13/2022		350,000		9,976,504		(1,108,855	)
(1.4700)% representing 1 month SOFR rate + spread	Total return of Deutsche Xtrackers Harvest CSI 300 China A-Shares ETF	J.P. Morgan		12/13/2022		122,882		4,189,566		272,155
(4.8800)% representing 1 month SOFR rate + spread	Total return of Deutsche Xtrackers Harvest CSI 300 China A-Shares ETF	UBS Securities LLC		12/14/2022		2,794,416		90,320,727		1,880,764
							$	154,052,182	$	845,722

Direxion Daily S&P 500® Bear 1X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	SHORT TERM INVESTMENTS - 107.4%
	Money Market Funds - 107.4%
	385,194,004	Dreyfus Government Cash Management Institutional Shares, 1.83% (a)	$	385,194,004
	18,466,891	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (a)		18,466,891
		TOTAL SHORT TERM INVESTMENTS (Cost $403,660,895) (b)	$	403,660,895
		TOTAL INVESTMENTS (Cost $403,660,895) - 107.4%	$	403,660,895
		Liabilities in Excess of Other Assets - (7.4)%		(27,689,700	)
		TOTAL NET ASSETS - 100.0%	$	375,971,195

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, 2022.

^(b)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $84,502,311.

Short Total Return Swap Contracts (Unaudited)

July 31, 2022

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)
1.8900 % representing 1 month SOFR rate + spread	Total return of S&P 500® Index	Credit Suisse International	12/7/2022	18,140	$	83,292,894	$	8,064,622
1.9000 % representing 1 month SOFR rate + spread	Total return of S&P 500® Index	UBS Securities LLC	12/14/2022	72,884		274,988,750		(25,936,247	)
					$	358,281,644	$	(17,871,625	)

Direxion Daily CSI 300 China A Share Bull 2X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	INVESTMENT COMPANIES - 2.7%
	56,400	Deutsche Xtrackers Harvest CSI 300 China A-Shares ETF (a)	$	1,766,448
		TOTAL INVESTMENT COMPANIES (Cost $1,853,534)	$	1,766,448
	SHORT TERM INVESTMENTS - 104.2%
	Money Market Funds - 104.2%
	56,228,022	Dreyfus Government Cash Management Institutional Shares, 1.83% (b)	$	56,228,022
	10,736,171	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (b)		10,736,171
		TOTAL SHORT TERM INVESTMENTS (Cost $66,964,193)	$	66,964,193
		TOTAL INVESTMENTS (Cost $68,817,727) - 106.9% (c)	$	68,730,641
		Liabilities in Excess of Other Assets - (6.9)%		(4,474,862	)
		TOTAL NET ASSETS - 100.0%	$	64,255,779

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, 2022.

^(c)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $24,787,400.

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

Terms of Payments to be Received at Termination	Terms of Payments to be Paid/ (Received) at Termination	Counterparty	Termination Date	Contracts	Notional Amount		Unrealized Appreciation (Depreciation)
Total return of Deutsche Xtrackers Harvest CSI 300 China A-Shares ETF	(1.4700)% representing 1 month SOFR rate + spread	Citibank N.A.	12/13/2022	1,582,483	$	47,168,157	$	2,605,516
Total return of Deutsche Xtrackers Harvest CSI 300 China A-Shares ETF	(0.4700)% representing 1 month SOFR rate + spread	J.P. Morgan	12/13/2022	122,882		4,796,538		(855,882	)
Total return of Deutsche Xtrackers Harvest CSI 300 China A-Shares ETF	(4.5700)% representing 1 month SOFR rate + spread	UBS Securities LLC	12/14/2022	2,341,254		77,007,284		(2,783,347	)
					$	128,971,979	$	(1,033,713	)

Direxion Daily CSI China Internet Index Bull 2X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	INVESTMENT COMPANIES - 46.2%
	5,071,258	KraneShares CSI China Internet ETF (a)	$	143,770,164
		TOTAL INVESTMENT COMPANIES (Cost $147,998,345)	$	143,770,164
	SHORT TERM INVESTMENTS - 67.0%
	Money Market Funds - 67.0%
	134,089,521	Dreyfus Government Cash Management Institutional Shares, 1.83% (b)	$	134,089,521
	25,455,167	Dreyfus Treasury Securities Cash Management Institutional Shares, 1.45% (b)		25,455,167
	49,146,474	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (b)		49,146,474
		TOTAL SHORT TERM INVESTMENTS (Cost $208,691,162)	$	208,691,162
		TOTAL INVESTMENTS (Cost $356,689,507) - 113.2% (c)	$	352,461,326
		Liabilities in Excess of Other Assets - (13.2)%		(40,985,546	)
		TOTAL NET ASSETS - 100.0%	$	311,475,780

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, 2022.

^(c)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $163,363,843.

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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	1.9300% representing 1 month SOFR rate + spread	Citibank N.A.	12/13/2022	3,530,819	$	104,116,761	$	(4,320,723	)
Total return of KraneShares CSI China Internet ETF	2.2700% representing 1 month SOFR rate + spread	UBS Securities LLC	12/14/2022	2,871,250		87,794,734		(6,982,297	)
Total return of KraneShares CSI China Internet ETF	1.9200% representing 1 month SOFR rate + spread	BNP Paribas	12/15/2022	2,310,545		72,515,561		(7,088,642	)
Total return of KraneShares CSI China Internet ETF	2.0800% representing 1 month SOFR rate + spread	Bank of America Merrill Lynch	2/23/2023	3,710,175		97,935,545		6,891,368
Total return of KraneShares CSI China Internet ETF	2.0800% representing 1 month SOFR rate + spread	Goldman Sachs	4/25/2023	4,479,431		127,108,815		(583,480	)
					$	489,471,416	$	(12,083,774	)

Direxion Daily S&P 500® Bull 2X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	INVESTMENT COMPANIES - 93.1%
	101,814	iShares Core S&P 500 ETF (a)	$	42,179,504
		TOTAL INVESTMENT COMPANIES (Cost $34,913,356)	$	42,179,504
	SHORT TERM INVESTMENTS - 4.9%
	Money Market Funds - 4.9%
	2,075,770	Dreyfus Government Cash Management Institutional Shares, 1.83% (b)	$	2,075,770
	154,815	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (b)		154,815
		TOTAL SHORT TERM INVESTMENTS (Cost $2,230,585)	$	2,230,585
		TOTAL INVESTMENTS (Cost $37,143,941) - 98.0% (c)	$	44,410,089
		Other Assets in Excess of Liabilities - 2.0%		886,367
		TOTAL NET ASSETS - 100.0%	$	45,296,456

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, 2022.

^(c)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $20,337,445.

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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® Index	2.1100 % representing 1 month SOFR rate + spread	Credit Suisse International	12/7/2022	4,588	$	21,166,781	$	(2,171,393	)
Total return of S&P 500® Index	1.7800 % representing 1 month SOFR rate + spread	Citibank N.A.	12/13/2022	200		942,404		(112,853	)
Total return of S&P 500® Index	2.1000 % representing 1 month SOFR rate + spread	UBS Securities LLC	12/14/2022	6,934		27,523,295		1,106,260
					$	49,632,480	$	(1,177,986	)

Direxion Daily S&P 500 Equal Weight Bull 2X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	INVESTMENT COMPANIES - 62.1%
	17,900	Invesco S&P 500® Equal Weight ETF (a)(b)	$	2,610,536
		TOTAL INVESTMENT COMPANIES (Cost $2,816,905)	$	2,610,536
	SHORT TERM INVESTMENTS - 43.0%
	Money Market Funds - 43.0%
	1,805,318	Dreyfus Government Cash Management Institutional Shares, 1.83% (c)(d)	$	1,805,318
		TOTAL SHORT TERM INVESTMENTS (Cost $1,805,318)	$	1,805,318
		TOTAL INVESTMENTS (Cost $4,622,223) - 105.1% (e)	$	4,415,854
		Liabilities in Excess of Other Assets - (5.1)%		(214,037	)
		TOTAL NET ASSETS - 100.0%	$	4,201,817

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, 2022.

^(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 $1,142,985.

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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 S&P 500® Equal Weight Index	2.1300 % representing 1 month SOFR rate + spread	UBS Securities LLC	12/14/2022	899	$	5,353,439	$	(25,033	)
Total return of S&P 500® Equal Weight Index	2.0800 % representing 1 month SOFR rate + spread	Barclays	4/3/2023	79		507,422		(39,395	)
					$	5,860,861	$	(64,428	)

Direxion Daily MSCI Brazil Bull 2X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	INVESTMENT COMPANIES - 29.9%
	1,262,884	iShares MSCI Brazil Capped ETF (a)(b)	$	36,648,894
		TOTAL INVESTMENT COMPANIES (Cost $43,300,581)	$	36,648,894
	SHORT TERM INVESTMENTS - 77.4%
	Money Market Funds - 77.4%
	75,516,873	Dreyfus Government Cash Management Institutional Shares, 1.83% (c)(d)	$	75,516,873
	1,461,420	Goldman Sachs Financial Square Government Fund Institutional Shares, 1.69% (c)		1,461,420
	17,956,928	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (c)		17,956,928
		TOTAL SHORT TERM INVESTMENTS (Cost $94,935,221)	$	94,935,221
		TOTAL INVESTMENTS (Cost $138,235,802) - 107.3% (e)	$	131,584,115
		Liabilities in Excess of Other Assets - (7.3)%		(8,993,947	)
		TOTAL NET ASSETS - 100.0%	$	122,590,168

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, 2022.

^(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 $60,935,005.

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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 Brazil Capped ETF	2.2800 % representing 1 month SOFR rate + spread	Barclays	12/7/2022		756,299	$	24,239,382	$	(1,320,543	)
Total return of iShares MSCI Brazil Capped ETF	1.6700 % representing 1 month SOFR rate + spread	UBS Securities LLC	12/14/2022		2,740,684		79,191,228		962,952
Total return of iShares MSCI Brazil Capped ETF	2.1200 % representing 1 month SOFR rate + spread	BNP Paribas	12/15/2022		1,888,063		51,563,001		3,155,612
Total return of iShares MSCI Brazil Capped ETF	1.0300 % representing 1 month SOFR rate + spread	J.P. Morgan	5/4/2023		1,800,501		62,100,133		(7,235,579	)
						$	217,093,744	$	(4,437,558	)

Direxion Daily MSCI India Bull 2X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	INVESTMENT COMPANIES - 38.0%
	508,934	iShares MSCI India ETF (a)(b)	$	21,718,759
		TOTAL INVESTMENT COMPANIES (Cost $24,898,019)	$	21,718,759
	SHORT TERM INVESTMENTS - 86.5%
	Money Market Funds - 86.5%
	39,755,785	Dreyfus Government Cash Management Institutional Shares, 1.83% (c)(d)	$	39,755,785
	1,900,312	Goldman Sachs Financial Square Government Fund Institutional Shares, 1.69% (c)		1,900,312
	7,742,257	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (c)		7,742,257
		TOTAL SHORT TERM INVESTMENTS (Cost $49,398,354)	$	49,398,354
		TOTAL INVESTMENTS (Cost $74,296,373) - 124.5% (e)	$	71,117,113
		Liabilities in Excess of Other Assets - (24.5)%		(14,012,074	)
		TOTAL NET ASSETS - 100.0%	$	57,105,039

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, 2022.

^(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 $19,876,476.

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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	2.0300 % representing 1 month SOFR rate + spread	J.P. Morgan	12/6/2022		700,000	$	28,959,000	$	801,631
Total return of iShares MSCI India ETF	2.3300 % representing 1 month SOFR rate + spread	Barclays	12/7/2022		148,459		6,515,866		(210,953	)
Total return of iShares MSCI India ETF	2.1800 % representing 1 month SOFR rate + spread	Citibank N.A.	12/13/2022		141,809		6,868,105		(458,982	)
Total return of iShares MSCI India ETF	2.3200 % representing 1 month SOFR rate + spread	UBS Securities LLC	12/14/2022		427,023		17,343,847		857,227
Total return of iShares MSCI India ETF	2.0700 % representing 1 month SOFR rate + spread	BNP Paribas	12/15/2022		750,000		30,225,000		1,739,481
						$	89,911,818	$	2,728,404

Direxion Daily 5G Communications Bull 2X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 71.9%
	Broadcasting (except Internet) - 1.4%
	1,015	Altice USA, Inc. (a)	$	10,668
	55	Charter Communications, Inc. (a)		23,765
	222	Rogers Communications, Inc. ADR (Canada)		10,203
				44,636
	Computer and Electronic Product Manufacturing - 34.7%
	575	ADTRAN Holdings, Inc.		13,852
	1,089	Advanced Micro Devices, Inc. (a)		102,878
	672	Analog Devices, Inc.		115,557
	150	Apple, Inc.		24,376
	215	Arista Networks, Inc. (a)		25,075
	39	Broadcom, Inc.		20,884
	405	Calix, Inc. (a)		23,101
	2,432	Casa Systems, Inc. (a)		10,749
	3,672	Ceragon Networks Ltd. ADR (Israel)(a)		9,547
	494	Cisco Systems, Inc.		22,413
	170	Clearfield, Inc. (a)		16,753
	870	Comtech Telecommunications Corp.		10,109
	279	CTS Corp.		11,350
	441	Dell Technologies, Inc.		19,871
	553	DZS, Inc. (a)		10,363
	3,169	EMCORE Corp. (a)		10,141
	800	Focus Universal, Inc. (a)(b)		11,144
	1,932	INFINERA Corp. (a)		12,655
	538	Intel Corp.		19,535
	218	InterDigital, Inc.		13,383
	459	Keysight Technologies, Inc. (a)		74,633
	427	Lattice Semiconductor Corp. (a)		26,261
	127	Lumentum Holdings, Inc. (a)		11,488
	205	MACOM Technology Solutions Holdings, Inc. (a)		11,878
	1,555	Marvell Technology, Inc.		86,582
	277	MaxLinear, Inc. (a)		11,194
	714	NeoPhotonics Corp. (a)		11,417
	119	NVIDIA Corp.		21,614
	529	NXP Semiconductors N.V. (Netherlands)		97,273
	197	Qorvo, Inc. (a)		20,502
	798	Qualcomm, Inc.		115,758
	456	Radware Ltd. ADR (Israel)(a)		10,547
	545	Sierra Wireless, Inc. ADR (Canada)(a)		13,560
	219	Silicom Ltd. ADR (Israel)(a)		9,196
	336	Skyworks Solutions, Inc.		36,584
	747	Viavi Solutions, Inc. (a)		11,056
				1,073,279
	Data Processing, Hosting and Related Services - 1.0%
	188	CSG Systems International, Inc.		12,267
	172	VMware, Inc.		19,986
				32,253
	Electrical Equipment, Appliance, and Component Manufacturing - 0.4%
	108	IPG Photonics Corp. (a)		11,511
	Furniture and Home Furnishings Stores - 0.4%
	331	Switch, Inc.		11,191
	Lessors of Nonfinancial Intangible Assets (except Copyrighted Works) - 0.4%
	346	CEVA, Inc. (a)		12,882
	Machinery Manufacturing - 0.4%
	221	II-VI, Inc. (a)		11,633
	Management of Companies and Enterprises - 0.5%
	3,718	Telefonica S.A. ADR (Spain) (b)		16,731
	Miscellaneous Store Retailers - 1.9%
	1,291	Verizon Communications, Inc.		59,631
	Nonmetallic Mineral Product Manufacturing - 0.5%
	428	Corning, Inc.		15,733
	Nonstore Retailers - 0.8%
	183	Amazon.com, Inc. (a)		24,696
	Professional, Scientific, and Technical Services - 6.5%
	704	A10 Networks, Inc.		10,497
	2,031	Allot Ltd. ADR (Israel)(a)		10,378
	444	Amdocs Ltd. ADR (Guernsey)		38,655
	526	Ciena Corp. (a)		27,142
	1,108	Extreme Networks, Inc. (a)		14,493
	187	F5 Networks, Inc. (a)		31,296
	5,462	Inseego Corp. (a)		12,180
	733	Juniper Networks, Inc.		20,546
	316	NetScout Systems, Inc. (a)		11,243
	3,771	Ribbon Communications, Inc. (a)		12,784
	40	Ubiquiti, Inc.		12,065
				201,279
	Publishing Industries (except Internet) - 3.7%
	608	Akamai Technologies, Inc. (a)		58,502
	2,659	Akoustis Technologies, Inc. (a)		11,380
	1,482	Hewlett Packard Enterprise Co.		21,104
	4,003	Limelight Networks, Inc. (a)		10,128
	316	National Instruments Corp.		12,008
				113,122
	Real Estate - 4.2%
	250	American Tower Corp.		67,708
	202	Crown Castle International Corp.		36,493
	113	Digital Realty Trust, Inc.		14,967
	1,001	Uniti Group, Inc.		9,980
				129,148
	Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 0.7%
	1,279	CommScope Holding Co., Inc. (a)		11,549
	325	GDS Holdings Ltd. ADR (China)(a)		8,996
				20,545
	Telecommunications - 14.4%
	3,161	AT&T, Inc.		59,364
	575	BCE, Inc. ADR (Canada)		29,055
	732	Cambium Networks Corp. ADR (a)		13,798
	318	Chunghwa Telecom Company, Ltd. ADR (Taiwan)		12,774
	46	Equinix, Inc.		32,372
	8,031	Ericsson ADR (Sweden)		60,554
	925	IHS Holding Ltd. ADR (a)		7,964
	757	KT Corp. ADR (South Korea)(a)		10,901
	950	Lumen Technologies, Inc.		10,346
	13,108	Nokia Corp. ADR (Finland)		67,899
	1,274	Orange S.A. ADR (France) (b)		12,957

56	SBA Communications Corp.		18,804
451	SK Telecom Co., Ltd. ADR (South Korea)		10,341
1,551	Starry Group Holdings, Inc. (a)(b)		4,963
461	T-Mobile US, Inc. (a)		65,951
1,736	Vodafone Group PLC ADR (United Kingdom)		25,623
			443,666
	TOTAL COMMON STOCKS (Cost $2,390,361)	$	2,221,936
SHORT TERM INVESTMENTS - 24.5%
Money Market Funds - 24.5%
709,521	Dreyfus Government Cash Management Institutional Shares, 1.83% (c)(d)	$	709,521
46,626	Goldman Sachs Financial Square Government Fund Institutional Shares, 1.69% (c)		46,626
	TOTAL SHORT TERM INVESTMENTS (Cost $756,147)	$	756,147
	TOTAL INVESTMENTS (Cost $3,146,508) - 96.4% (e)	$	2,978,083
	Other Assets in Excess of Liabilities - 3.6%		110,154
	TOTAL NET ASSETS - 100.0%	$	3,088,237

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, 2022.

^(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 $1,662,325.

ADR - American Depository Receipt

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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 BlueStar® 5G Communications Index	2.0800 % representing 1 month SOFR rate + spread		Barclays		12/7/2022		18,101	$	3,221,550	$	122,928
Total return of BlueStar® 5G Communications Index	2.1200 % representing 1 month SOFR rate + spread		UBS Securities LLC		12/14/2022		3,299		597,045		12,624
								$	3,818,595	$	135,552

Direxion Daily Cloud Computing Bull 2X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 71.7%
	Administrative and Support Services - 0.8%
	627	Alarm.com, Inc. (a)	$	44,373
	790	nCino, Inc. (a)		25,509
				69,882
	Computer and Electronic Product Manufacturing - 0.1%
	533	Radware Ltd. ADR (Israel) (a)		12,328
	Data Processing, Hosting and Related Services - 5.3%
	894	Five9, Inc. (a)		96,659
	1,087	RingCentral, Inc. (a)		53,796
	2,717	VMware, Inc.		315,715
				466,170
	Heavy and Civil Engineering Construction - 0.5%
	711	BlackLine, Inc. (a)		44,949
	Professional, Scientific, and Technical Services - 17.7%
	970	2U, Inc. (a)		9,496
	590	DigitalOcean Holdings, Inc. (a)(b)		24,178
	889	Freshworks, Inc. (a)		11,655
	885	LivePerson, Inc. (a)		12,072
	426	Model N, Inc. (a)		10,701
	2,866	Nutanix, Inc. (a)		43,363
	670	Paycom Software, Inc. (a)		221,428
	525	Paylocity Holding Corp. (a)		108,113
	532	PROS Holdings, Inc. (a)		12,965
	3,567	SAP SE ADR (Germany)		332,480
	684	ServiceNow, Inc. (a)		305,516
	1,743	Snowflake, Inc. (a)		261,293
	856	Unisys Corp. (a)		11,744
	1,909	Vimeo, Inc. (a)		10,614
	1,078	Zscaler, Inc. (a)		167,155
				1,542,773
	Publishing Industries (except Internet) - 43.7%
	1,491	ACI Worldwide, Inc. (a)		42,538
	919	Adobe Systems, Inc. (a)		376,900
	2,075	Akamai Technologies, Inc. (a)		199,656
	234	AppFolio, Inc. (a)		23,824
	1,861	Autodesk, Inc. (a)		402,572
	1,259	Bill.com Holdings, Inc. (a)		170,066
	568	Blackbaud, Inc. (a)		34,830
	1,823	Box, Inc. (a)		51,846
	1,029	C3.ai, Inc. (a)		18,944
	475	Clearwater Analytics Holdings, Inc. Class A (a)		6,070
	979	Coupa Software, Inc. (a)		64,046
	1,776	CrowdStrike Holdings, Inc. (a)		326,074
	2,556	DocuSign, Inc. (a)		163,533
	3,594	Dropbox, Inc. (a)		81,728
	442	Enfusion, Inc. (a)		5,083
	510	Everbridge, Inc. (a)		12,821
	1,418	Informatica, Inc. (a)		32,472
	121	MicroStrategy, Inc. Class A (a)(b)		34,613
	4,825	Oracle Corp.		375,578
	622	Paycor HCM, Inc. (a)		16,601
	458	Qualys, Inc. (a)		56,023
	1,855	Salesforce.com, Inc. (a)		341,357
	471	SPS Commerce, Inc. (a)		56,407
	4,394	Tuya, Inc. ADR (a)		7,953
	2,223	Twilio, Inc. (a)		188,510
	351	Upland Software, Inc. (a)		3,973
	1,821	Veeva Systems, Inc. (a)		407,139
	694	VTEX ADR (a)		2,408
	1,646	Workday, Inc. (a)		255,295
	569	Workiva, Inc. (a)		37,270
	1,549	Zuora, Inc. (a)		13,182
				3,809,312
	Telecommunications - 3.6%
	1,511	8x8, Inc. (a)		7,389
	296	Bandwidth, Inc. (a)		4,923
	2,904	Zoom Video Communications, Inc. (a)		301,609
				313,921
		TOTAL COMMON STOCKS (Cost $8,409,976)	$	6,259,335
	SHORT TERM INVESTMENTS - 30.7%
	Money Market Funds - 30.7%
	2,108,647	Dreyfus Government Cash Management Institutional Shares, 1.83% (c)(d)	$	2,108,647
	1	Goldman Sachs Financial Square Government Fund Institutional Shares, 1.69% (c)		1
	571,868	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (c)		571,868
		TOTAL SHORT TERM INVESTMENTS (Cost $2,680,516)	$	2,680,516
		TOTAL INVESTMENTS (Cost $11,090,492) - 102.4% (e)	$	8,939,851
		Liabilities in Excess of Other Assets - (2.4)%		(213,214	)
		TOTAL NET ASSETS - 100.0%	$	8,726,637

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, 2022.

^(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 $3,452,186.

ADR - American Depository Receipt

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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 Indxx USA Cloud Computing Index	1.9300 % representing 1 month SOFR rate + spread		Citibank N.A.		12/13/2022		3,743	$	2,720,151	$	200,975
Total return of Indxx USA Cloud Computing Index	1.6800 % representing 1 month SOFR rate + spread		Bank of America Merrill Lynch		12/13/2022		10,573		8,192,966		65,630
								$	10,913,117	$	266,605

Direxion Daily Cloud Computing Bear 2X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	SHORT TERM INVESTMENTS - 111.1%
	Money Market Funds - 111.1%
	7,581,486	Dreyfus Government Cash Management Institutional Shares, 1.83% (a)	$	7,581,486
	9,362,739	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (a)		9,362,739
		TOTAL SHORT TERM INVESTMENTS (Cost $16,944,225) (b)	$	16,944,225
		TOTAL INVESTMENTS (Cost $16,944,225) - 111.1%	$	16,944,225
		Liabilities in Excess of Other Assets - (11.1)%		(1,686,392	)
		TOTAL NET ASSETS - 100.0%	$	15,257,833

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, 2022.

^(b)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $9,362,739.

Short Total Return Swap Contracts (Unaudited)

July 31, 2022

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)
1.7300 % representing 1 month SOFR rate + spread	Total return of Indxx USA Cloud Computing Index		Citibank N.A.		12/13/2022		10,781	$	12,659,697	$	4,269,652
1.3800 % representing 1 month SOFR rate + spread	Total return of Indxx USA Cloud Computing Index		Bank of America Merrill Lynch		12/13/2022		28,246		20,596,701		(1,485,669	)
								$	33,256,398	$	2,783,983

Direxion Daily Energy Bull 2X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 77.2%
	Gasoline Stations - 17.1%
	564,586	Chevron Corp.	$	92,467,895
	Machinery Manufacturing - 1.4%
	297,949	Baker Hughes Co.		7,654,310
	Oil and Gas Extraction - 14.6%
	107,741	APA Corp.		4,004,733
	256,681	Coterra Energy, Inc.		7,851,872
	195,520	Devon Energy Corp.		12,288,432
	155,274	EOG Resources, Inc.		17,269,574
	225,427	Marathon Oil Corp.		5,590,589
	283,609	Occidental Petroleum Corp.		18,647,292
	153,250	Phillips 66		13,639,250
				79,291,742
	Petroleum and Coal Products Manufacturing - 27.3%
	192,216	ConocoPhillips		18,727,605
	1,019,680	Exxon Mobil Corp.		98,837,583
	172,329	Marathon Petroleum Corp.		15,795,676
	129,995	Valero Energy Corp.		14,399,546
				147,760,410
	Pipeline Transportation - 2.4%
	387,987	Williams Companies, Inc.		13,226,477
	Support Activities for Mining - 10.8%
	53,148	Diamondback Energy, Inc.		6,804,007
	287,317	Halliburton Co.		8,418,388
	88,244	Hess Corp.		9,924,803
	71,678	Pioneer Natural Resources Co.		16,984,102
	450,244	Schlumberger Ltd. ADR (Curaco) (a)		16,672,535
				58,803,835
	Utilities - 3.6%
	621,163	Kinder Morgan, Inc.		11,174,722
	142,265	ONEOK, Inc.		8,498,911
				19,673,633
		TOTAL COMMON STOCKS (Cost $331,032,109)	$	418,878,302
	SHORT TERM INVESTMENTS - 18.8%
	Money Market Funds - 18.8%
	94,200,771	Dreyfus Government Cash Management Institutional Shares, 1.83% (b)	$	94,200,771
	7,634,340	Goldman Sachs Financial Square Government Fund Institutional Shares, 1.69% (b)		7,634,340
	163,081	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (b)		163,081
		TOTAL SHORT TERM INVESTMENTS (Cost $101,998,192)	$	101,998,192
		TOTAL INVESTMENTS (Cost $433,030,301) - 96.0% (c)	$	520,876,494
		Other Assets in Excess of Liabilities - 4.0%		21,440,825
		TOTAL NET ASSETS - 100.0%	$	542,317,319

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, 2022.

^(c)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $244,456,210.

ADR - American Depository Receipt

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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	1.9800 % representing 1 month SOFR rate + spread		J.P. Morgan		12/6/2022		198,914	$	147,385,685	$	17,391,678
Total return of Energy Select Sector Index	1.8300 % representing 1 month SOFR rate + spread		Credit Suisse International		12/7/2022		123,867		71,958,056		31,709,808
Total return of Energy Select Sector Index	2.0300 % representing 1 month SOFR rate + spread		Barclays		12/7/2022		180,000		142,088,400		7,128,034
Total return of Energy Select Sector Index	2.1900 % representing 1 month SOFR rate + spread		UBS Securities LLC		12/14/2022		205,036		158,478,372		10,461,384
Total return of Energy Select Sector Index	2.0200 % representing 1 month SOFR rate + spread		BNP Paribas		12/15/2022		100,676		75,101,276		7,785,248
								$	595,011,789	$	74,476,152

Direxion Daily Energy Bear 2X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	SHORT TERM INVESTMENTS - 116.1%
	Money Market Funds - 116.1%
	59,035,328	Dreyfus Government Cash Management Institutional Shares, 1.83% (a)	$	59,035,328
	2,091,599	Goldman Sachs Financial Square Government Fund Institutional Shares, 1.69% (a)		2,091,599
	5,996,897	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (a)		5,996,897
		TOTAL SHORT TERM INVESTMENTS (Cost $67,123,824) (b)	$	67,123,824
		TOTAL INVESTMENTS (Cost $67,123,824) - 116.1%	$	67,123,824
		Liabilities in Excess of Other Assets - (16.1)%		(9,303,529	)
		TOTAL NET ASSETS - 100.0%	$	57,820,295

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, 2022.

^(b)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $30,009,457.

Short Total Return Swap Contracts (Unaudited)

July 31, 2022

Terms of Payments to be Received at Termination	Terms of Payments to be Paid at Termination	Counterparty	Termination Date	Contracts		Notional Amount		Unrealized Depreciation
1.5300 % representing 1 month SOFR rate + spread	Total return of Energy Select Sector Index	J.P. Morgan	12/6/2022		31,090	$	25,144,038	$	(462,015	)
1.6800 % representing 1 month SOFR rate + spread	Total return of Energy Select Sector Index	Credit Suisse International	12/7/2022		9,650		5,605,975		(2,481,411	)
1.7300 % representing 1 month SOFR rate + spread	Total return of Energy Select Sector Index	Barclays	12/7/2022		6,891		4,348,733		(1,420,530	)
1.8500 % representing 1 month SOFR rate + spread	Total return of Energy Select Sector Index	UBS Securities LLC	12/14/2022		39,879		30,100,541		(2,741,342	)
1.5700 % representing 1 month SOFR rate + spread	Total return of Energy Select Sector Index	BNP Paribas	12/15/2022		52,926		39,481,208		(4,104,598	)
						$	104,680,495	$	(11,209,896	)

Direxion Daily Fintech Bull 2X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 73.6%
	Administrative and Support Services - 12.5%
	357	Coinbase Global, Inc. (a)	$	22,477
	942	Dlocal Ltd. ADR (Uruguay) (a)		26,169
	482	Envestnet, Inc. (a)		28,086
	699	Evertec, Inc. ADR		27,254
	168	FleetCor Technologies, Inc. (a)		36,975
	778	nCino, Inc. (a)		25,122
	1,858	Paymentus Holdings, Inc. (a)		27,034
	2,771	Remitly Global, Inc. (a)		26,408
	929	Upstart Holdings, Inc. (a)		22,602
	978	Visa, Inc. Class A		207,443
				449,570
	Amusement, Gambling, and Recreation Industries - 2.1%
	625	Global Payments, Inc.		76,450
	Credit Intermediation and Related Activities - 23.0%
	889	Affirm Holdings, Inc. (a)		23,861
	1,408	American Express Co.		216,860
	628	Discover Financial Services		63,428
	256	Euronet Worldwide, Inc. (a)		25,157
	1,203	Fidelity National Information Services, Inc.		122,898
	1,149	Flywire Corp. (a)		26,956
	1,813	LendingClub Corp. (a)		25,110
	610	MasterCard, Inc. Class A		215,812
	626	Meta Financial Group, Inc.		21,109
	721	Nuvei Corp. ADR (Canada) (a)		25,148
	1,119	Synchrony Financial		37,464
	1,583	Western Union Co.		26,943
				830,746
	Data Processing, Hosting and Related Services - 4.9%
	1,199	Fiserv, Inc. (a)		126,710
	2,342	Pagseguro Digital Ltd. ADR (Brazil) (a)		25,411
	159	WEX, Inc. (a)		26,427
				178,548
	Heavy and Civil Engineering Construction - 0.7%
	390	BlackLine, Inc. (a)		24,656
	Lessors of Nonfinancial Intangible Assets (except Copyrighted Works) - 0.7%
	1,960	Marathon Digital Holdings, Inc. (a)		25,460
	Management of Companies and Enterprises - 4.1%
	870	Capital One Financial Corp.		95,552
	5,395	Lufax Holding Ltd. ADR (China)		24,709
	2,777	StoneCo Ltd. ADR (a)		26,604
				146,865
	Professional, Scientific, and Technical Services - 2.8%
	582	Alliance Data Systems Corp.		23,053
	133	Jack Henry & Associates, Inc.		27,634
	3,469	Riot Blockchain, Inc. (a)		25,393
	742	Shift4 Payments, Inc. (a)		27,031
				103,111
	Publishing Industries - 6.2%
	487	Intuit, Inc.		222,155
	Publishing Industries (except Internet) - 8.3%
	963	ACI Worldwide, Inc. (a)		27,474
	288	Avalara, Inc. (a)		25,177
	192	Bill.com Holdings, Inc. (a)		25,935
	402	Black Knight, Inc. (a)		26,403
	1,142	Block, Inc. (a)		86,861
	606	Q2 Holdings, Inc. (a)		26,604
	423	SS&C Technologies Holdings, Inc.		25,029
	1,739	Toast, Inc. (a)		27,789
	2,371	Vertex, Inc. (a)		26,674
				297,946
	Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 2.2%
	1,411	Assetmark Financial Holdings, Inc. (a)		26,795
	12,896	Paysafe Ltd. ADR (Douglas, Isle of Man) (a)		25,921
	2,809	Robinhood Markets, Inc. (a)		25,421
				78,137
	Telecommunications - 6.1%
	2,556	PayPal Holdings, Inc. (a)		221,171
		TOTAL COMMON STOCKS (Cost $3,207,979)	$	2,654,815
	SHORT TERM INVESTMENTS - 25.5%
	Money Market Funds - 25.5%
	919,462	Dreyfus Government Cash Management Institutional Shares, 1.83% (b)	$	919,462
		TOTAL SHORT TERM INVESTMENTS (Cost $919,462)	$	919,462
		TOTAL INVESTMENTS (Cost $4,127,441) - 99.1% (c)	$	3,574,277
		Other Assets in Excess of Liabilities - 0.9%		31,785
		TOTAL NET ASSETS - 100.0%	$	3,606,062

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, 2022.

^(c)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $1,280,591.

ADR - American Depository Receipt

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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 US Fintech and Decentralized Finance Index	2.1800 % representing 1 month SOFR rate + spread		Barclays		12/7/2022		54	$	123,515	$	(22,066	)
Total return of Indxx US Fintech and Decentralized Finance Index	2.2300 % representing 1 month SOFR rate + spread		UBS Securities LLC		12/14/2022		2,365		4,377,048		71,293
								$	4,500,563	$	49,227

Direxion Daily Global Clean Energy Bull 2X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	INVESTMENT COMPANIES - 70.7%
	169,097	iShares Global Clean Energy ETF (a)	$	3,769,172
		TOTAL INVESTMENT COMPANIES (Cost $3,858,575)	$	3,769,172
	SHORT TERM INVESTMENTS - 27.6%
	Money Market Funds - 27.6%
	662,205	Dreyfus Government Cash Management Institutional Shares, 1.83% (b)	$	662,205
	808,230	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (b)		808,230
		TOTAL SHORT TERM INVESTMENTS (Cost $1,470,435)	$	1,470,435
		TOTAL INVESTMENTS (Cost $5,329,010) - 98.3% (c)	$	5,239,607
		Other Assets in Excess of Liabilities - 1.7%		94,990
		TOTAL NET ASSETS - 100.0%	$	5,334,597

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, 2022.

^(c)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $1,289,204.

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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 The S&P Global Clean Energy Index	2.1800 % representing 1 month SOFR rate + spread		Citibank N.A.		12/13/2022		185,937	$	3,491,153	$	656,773
Total return of The S&P Global Clean Energy Index	1.9800 % representing 1 month SOFR rate + spread		Bank of America Merrill Lynch		12/13/2022		123,611		2,698,718		56,164
								$	6,189,871	$	712,937

Direxion Daily Gold Miners Index Bull 2X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	INVESTMENT COMPANIES - 50.3%
	8,397,400	VanEck Vectors™ Gold Miners ETF (a)	$	220,599,698
		TOTAL INVESTMENT COMPANIES (Cost $253,119,193)	$	220,599,698
	SHORT TERM INVESTMENTS - 65.2%
	Money Market Funds - 65.2%
	199,503,468	Dreyfus Government Cash Management Institutional Shares, 1.83% (b)	$	199,503,468
	86,194,237	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (b)		86,194,237
		TOTAL SHORT TERM INVESTMENTS (Cost $285,697,705)	$	285,697,705
		TOTAL INVESTMENTS (Cost $538,816,898) - 115.5% (c)	$	506,297,403
		Liabilities in Excess of Other Assets - (15.5)%		(67,985,452	)
		TOTAL NET ASSETS - 100.0%	$	438,311,951

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, 2022.

^(c)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $360,146,661.

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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 Vectors® Gold Miners ETF	2.6900 % representing 1 month SOFR rate + spread	Credit Suisse International	12/7/2022		3,604,844	$	109,689,611	$	(15,299,601	)
Total return of VanEck Vectors® Gold Miners ETF	2.2800 % representing 1 month SOFR rate + spread	Citibank N.A.	12/13/2022		4,212,819		136,613,076		(26,523,377	)
Total return of VanEck Vectors® Gold Miners ETF	2.3800 % representing 1 month SOFR rate + spread	Bank of America Merrill Lynch	12/13/2022		4,345,609		131,854,377		(16,660,370	)
Total return of VanEck Vectors® Gold Miners ETF	2.7200 % representing 1 month SOFR rate + spread	UBS Securities LLC	12/14/2022		4,194,511		125,331,094		(14,956,787	)
Total return of VanEck Vectors® Gold Miners ETF	2.3200 % representing 1 month SOFR rate + spread	BNP Paribas	12/15/2022		6,292,175		167,525,679		(2,424,166	)
Total return of VanEck Vectors® Gold Miners ETF	2.3800 % representing 1 month SOFR rate + spread	J.P. Morgan	2/10/2023		2,321,629		66,699,763		(6,115,502	)
						$	737,713,600	$	(81,979,803	)

Direxion Daily Gold Miners Index Bear 2X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	SHORT TERM INVESTMENTS - 99.0%
	Money Market Funds - 99.0%
	45,939,838	Dreyfus Government Cash Management Institutional Shares, 1.83% (a)	$	45,939,838
	28,126,670	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (a)		28,126,670
		TOTAL SHORT TERM INVESTMENTS (Cost $74,066,508) (b)	$	74,066,508
		TOTAL INVESTMENTS (Cost $74,066,508) - 99.0%	$	74,066,508
		Other Assets in Excess of Liabilities - 1.0%		728,566
		TOTAL NET ASSETS - 100.0%	$	74,795,074

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, 2022.

^(b)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $40,872,245.

Short Total Return Swap Contracts (Unaudited)

July 31, 2022

Terms of Payments to be Received at Termination	Terms of Payments to be Paid at Termination	Counterparty	Termination Date	Contracts		Notional Amount		Unrealized Appreciation
1.4800 % representing 1 month SOFR rate + spread	Total return of VanEck Vectors® Gold Miners ETF	J.P. Morgan	12/6/2022		620,998	$	19,436,169	$	3,162,720
2.2800 % representing 1 month SOFR rate + spread	Total return of VanEck Vectors® Gold Miners ETF	Credit Suisse International	12/8/2022		1,064,416		34,405,141		6,578,153
1.7600 % representing 1 month SOFR rate + spread	Total return of VanEck Vectors® Gold Miners ETF	Citibank N.A.	12/13/2022		621,009		24,038,416		7,814,492
2.1800 % representing 1 month SOFR rate + spread	Total return of VanEck Vectors® Gold Miners ETF	Bank of America Merrill Lynch	12/13/2022		1,504,091		43,911,161		4,463,618
2.1200 % representing 1 month SOFR rate + spread	Total return of VanEck Vectors® Gold Miners ETF	UBS Securities LLC	12/14/2022		840,781		24,437,257		2,382,867
1.9100 % representing 1 month SOFR rate + spread	Total return of VanEck Vectors® Gold Miners ETF	BNP Paribas	12/15/2022		1,042,935		28,326,115		988,070
						$	174,554,259	$	25,389,920

Direxion Daily Junior Gold Miners Index Bull 2X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	INVESTMENT COMPANIES - 41.6%
	3,713,396	VanEck VectorsTM Junior Gold Miners ETF (a)	$	124,844,373
		TOTAL INVESTMENT COMPANIES (Cost $133,569,413)	$	124,844,373
	SHORT TERM INVESTMENTS - 81.3%
	Money Market Funds - 81.3%
	155,481,377	Dreyfus Government Cash Management Institutional Shares, 1.83% (b)	$	155,481,377
	88,755,309	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (b)		88,755,309
		TOTAL SHORT TERM INVESTMENTS (Cost $244,236,686)	$	244,236,686
		TOTAL INVESTMENTS (Cost $377,806,099) - 122.9% (c)	$	369,081,059
		Liabilities in Excess of Other Assets - (22.9)%		(68,732,564	)
		TOTAL NET ASSETS - 100.0%	$	300,348,495

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, 2022.

^(c)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $268,688,319.

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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 VanEck VectorsTM Junior Gold Miners ETF	2.3300 % representing 1 month SOFR rate + spread		J.P. Morgan		12/6/2022		1,052,157	$	50,777,097	$	(15,696,887	)
Total return of VanEck VectorsTM Junior Gold Miners ETF	2.4700 % representing 1 month SOFR rate + spread		Credit Suisse International		12/7/2022		846,143		30,451,395		(2,087,496	)
Total return of VanEck VectorsTM Junior Gold Miners ETF	2.3000 % representing 1 month SOFR rate + spread		Citibank N.A.		12/13/2022		5,619,100		229,672,968		(41,689,785	)
Total return of VanEck VectorsTM Junior Gold Miners ETF	2.4200 % representing 1 month SOFR rate + spread		UBS Securities LLC		12/14/2022		825,967		33,368,105		(5,349,894	)
Total return of VanEck VectorsTM Junior Gold Miners ETF	2.3200 % representing 1 month SOFR rate + spread		BNP Paribas		12/15/2022		5,809,832		181,746,071		13,381,098
								$	526,015,636	$	(51,442,964	)

Direxion Daily Junior Gold Miners Index Bear 2X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	SHORT TERM INVESTMENTS - 71.4%
	Money Market Funds - 71.4%
	30,477,239	Dreyfus Government Cash Management Institutional Shares, 1.83% (a)	$	30,477,239
	16,732,041	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (a)		16,732,041
		TOTAL SHORT TERM INVESTMENTS (Cost $47,209,280) (b)	$	47,209,280
		TOTAL INVESTMENTS (Cost $47,209,280) - 71.4%	$	47,209,280
		Other Assets in Excess of Liabilities - 28.6%		18,933,382
		TOTAL NET ASSETS - 100.0%	$	66,142,662

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, 2022.

^(b)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $22,984,688.

Short Total Return Swap Contracts (Unaudited)

July 31, 2022

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)
2.2700 % representing 1 month SOFR rate + spread	Total return of VanEck VectorsTM Junior Gold Miners ETF		Credit Suisse International		12/7/2022		845,601	$	34,312,243	$	6,008,995
1.8100 % representing 1 month SOFR rate + spread	Total return of VanEck VectorsTM Junior Gold Miners ETF		Citibank N.A.		12/13/2022		2,148,359		75,456,861		3,333,723
2.1000 % representing 1 month SOFR rate + spread	Total return of VanEck VectorsTM Junior Gold Miners ETF		UBS Securities LLC		12/13/2022		783,737		30,438,004		4,120,463
1.9100 % representing 1 month SOFR rate + spread	Total return of VanEck VectorsTM Junior Gold Miners ETF		BNP Paribas		12/15/2022		157,254		4,928,495		(348,387	)
								$	145,135,603	$	13,114,794

Direxion Daily Metal Miners Bull 2X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 73.2%
	Fabricated Metal Product Manufacturing - 4.2%
	850	Materion Corp.	$	69,649
	3,295	Nucor Corp.		447,461
				517,110
	Merchant Wholesalers, Durable Goods - 1.8%
	3,474	Ryerson Holding, Corp.		95,187
	3,443	Schnitzer Steel Industries, Inc.		122,433
				217,620
	Mining (except Oil and Gas) - 23.4%
	2,476	Alpha Metallurgical Resources, Inc.		338,618
	2,328	Arch Resources, Inc.		300,638
	60,859	Coeur Mining, Inc. (a)		195,357
	5,457	Consol Energy, Inc. (a)		334,623
	9,849	Freeport-McMoRan Copper & Gold, Inc.		310,736
	5,924	Newmont Mining Corp.		268,239
	15,185	Peabody Energy Corp. (a)		318,733
	3,448	Royal Gold, Inc.		361,247
	98,514	Uranium Energy Corp. (a)		413,759
				2,841,950
	Primary Metal Manufacturing - 29.9%
	7,470	Alcoa Corp.		380,148
	15,500	Allegheny Technologies, Inc. (a)		385,795
	11,376	Arconic Corp. (a)		343,669
	4,300	Carpenter Technology Corp.		138,202
	35,171	Century Aluminum Co. (a)		277,499
	10,207	Commercial Metals Co.		404,401
	598	Haynes International Inc.		23,119
	1,223	Kaiser Aluminum Corp.		92,667
	2,120	Reliance Steel & Aluminum Co.		403,330
	5,343	Steel Dynamics, Inc.		416,113
	9,585	SunCoke Energy Inc.		70,929
	6,872	TimkenSteel Corp. (a)		139,433
	17,879	United States Steel Corp.		422,838
	2,569	Worthington Industries, Inc.		131,559
				3,629,702
	Real Estate - 2.9%
	10,649	MP Materials Corp. (a)		357,487
	Support Activities for Mining - 9.0%
	20,164	Cleveland-Cliffs Inc. (a)		357,104
	3,818	Compass Minerals International, Inc.		142,144
	79,843	Hecla Mining Co.		361,689
	5,069	Piedmont Lithium, Inc. (a)		229,170
				1,090,107
	Wood Product Manufacturing - 2.0%
	3,491	Enviva, Inc.		243,078
		TOTAL COMMON STOCKS (Cost $10,524,934)	$	8,897,054
	SHORT TERM INVESTMENTS - 36.1%
	Money Market Funds - 36.1%
	2,709,845	Dreyfus Government Cash Management Institutional Shares, 1.83% (b)	$	2,709,845
	1,676,089	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (b)		1,676,089
		TOTAL SHORT TERM INVESTMENTS (Cost $4,385,934)	$	4,385,934
		TOTAL INVESTMENTS (Cost $14,910,868) - 109.3% (c)	$	13,282,988
		Liabilities in Excess of Other Assets - (9.3)%		(1,136,574	)
		TOTAL NET ASSETS - 100.0%	$	12,146,414

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, 2022.

^(c)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $8,778,123.

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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 Metals & Mining Select Industry Index	2.2200 % representing 1 month SOFR rate + spread	UBS Securities LLC	12/14/2022		3,310	$	7,865,952	$	299,436
Total return of S&P Metals & Mining Select Industry Index	1.9300 % representing 1 month SOFR rate + spread	J.P. Morgan	5/5/2023		2,933		8,391,822		(1,154,717	)
						$	16,257,774	$	(855,281	)

Direxion Daily Oil Services Bull 2X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 68.5%
	Machinery Manufacturing - 16.4%
	17,963	Baker Hughes Co.	$	461,470
	7,125	Cactus, Inc.		296,329
	4,068	Dril-Quip, Inc. (a)		104,344
	21,383	NOV, Inc.		397,938
	7,533	Oil States International, Inc (a)		38,418
	49,057	TechnipFMC PLC ADR (United Kingdom) (a)		396,871
				1,695,370
	Management of Companies and Enterprises - 1.2%
	9,950	Expro Group Holdings N.V. ADR (Netherlands (a)		121,191
	Merchant Wholesalers, Durable Goods - 4.8%
	16,126	ChampionX Corp.		336,872
	19,237	RPC, Inc. (a)		156,974
				493,846
	Mining (except Oil and Gas) - 1.3%
	9,624	U.S. Silica Holdings, Inc. (a)		133,100
	Primary Metal Manufacturing - 4.0%
	1,431	DMC Global, Inc. (a)		32,570
	13,409	Tenaris S.A. ADR (Luxembourg)		376,256
				408,826
	Support Activities for Mining - 40.8%
	4,920	Core Laboratories N.V. ADR (Netherlands)		93,185
	26,643	Halliburton Co.		780,640
	20,215	Helix Energy Solutions Group, Inc. (a)		81,669
	7,595	Helmerich & Payne, Inc.		351,648
	16,604	Liberty Oilfield Services, Inc. (a)		235,777
	1,127	Nabors Industries Ltd. ADR (a)		160,586
	17,444	NexTier Oilfield Solutions, Inc. (a)		173,917
	12,395	Oceaneering International, Inc. (a)		131,635
	20,716	Patterson-UTI Energy, Inc.		342,850
	10,674	ProPetro Holding Corp. (a)		112,290
	36,682	Schlumberger Ltd. ADR (Curaco) (b)		1,358,334
	14,026	Select Energy Services, Inc. (a)		104,774
	85,056	Transocean Ltd. ADR (Switzerland) (a)		287,489
				4,214,794
		TOTAL COMMON STOCKS (Cost $7,554,215)	$	7,067,127
	SHORT TERM INVESTMENTS - 29.8%
	Money Market Funds - 29.8%
	1,932,548	Dreyfus Government Cash Management Institutional Shares, 1.83% (b)	$	1,932,548
	360,505	Goldman Sachs Financial Square Government Fund Institutional Shares, 1.69% (b)		360,505
	783,373	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (b)		783,373
		TOTAL SHORT TERM INVESTMENTS (Cost $3,076,426)	$	3,076,426
		TOTAL INVESTMENTS (Cost $10,630,641) - 98.3% (c)	$	10,143,553
		Other Assets in Excess of Liabilities - 1.7%		174,674
		TOTAL NET ASSETS - 100.0%	$	10,318,227

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, 2022.

^(c)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $8,368,123.

ADR - American Depository Receipt

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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 MVIS US Listed Oil Services 25 Index	2.0800 % representing 1 month SOFR rate + spread	Barclays	12/7/2022	5,641	$	3,106,420	$	52,022
Total return of MVIS US Listed Oil Services 25 Index	2.2300 % representing 1 month SOFR rate + spread	UBS Securities LLC	12/14/2022	7,298		4,432,440		(350,606	)
Total return of MVIS US Listed Oil Services 25 Index	2.0300 % representing 1 month SOFR rate + spread	Citibank N.A.	6/7/2023	11,271		6,007,095		310,076
					$	13,545,955	$	11,492

Direxion Daily Robotics, Artificial Intelligence & Automation Index Bull 2X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	INVESTMENT COMPANIES - 48.8%
	328,607	Global X Robotics & Artificial Intelligence ETF (a)	$	7,400,229
		TOTAL INVESTMENT COMPANIES (Cost $8,390,158)	$	7,400,229
	SHORT TERM INVESTMENTS - 57.9%
	Money Market Funds - 57.9%
	2,965,325	Dreyfus Government Cash Management Institutional Shares, 1.83% (b)	$	2,965,325
	2,110,136	Goldman Sachs Financial Square Government Fund Institutional Shares, 1.69% (b)		2,110,136
	3,710,422	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (b)		3,710,422
		TOTAL SHORT TERM INVESTMENTS (Cost $8,785,883)	$	8,785,883
		TOTAL INVESTMENTS (Cost $17,176,041) - 106.7% (c)	$	16,186,112
		Liabilities in Excess of Other Assets - (6.7)%		(1,016,012	)
		TOTAL NET ASSETS - 100.0%	$	15,170,100

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, 2022.

^(c)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $9,636,369.

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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	1.9800 % representing 1 month SOFR rate + spread	J.P. Morgan	12/6/2022		328,630	$	7,058,011	$	339,182
Total return of Indxx Global Robotics and Artificial Intelligence Thematic Index	2.7800 % representing 1 month SOFR rate + spread	Credit Suisse International	12/7/2022		225,516		8,055,432		(3,047,744	)
Total return of Indxx Global Robotics and Artificial Intelligence Thematic Index	2.2800 % representing 1 month SOFR rate + spread	Barclays	12/7/2022		178,090		4,956,072		(1,004,022	)
Total return of Indxx Global Robotics and Artificial Intelligence Thematic Index	2.1800 % representing 1 month SOFR rate + spread	Citibank N.A.	12/13/2022		88,348		2,807,622		(831,973	)
Total return of Indxx Global Robotics and Artificial Intelligence Thematic Index	2.3200 % representing 1 month SOFR rate + spread	UBS Securities LLC	12/14/2022		198,050		4,441,040		11,987
						$	27,318,177	$	(4,532,570	)

Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 53.3%
	Chemical Manufacturing - 1.4%
	687,107	Alto Ingredients, Inc. (a)	$	2,954,560
	2,899,798	Gevo, Inc. (a)(b)		8,525,406
				11,479,966
	Gasoline Stations - 2.0%
	59,312	Chevron Corp.		9,714,120
	239,291	Delek US Holdings, Inc.		6,379,498
				16,093,618
	Machinery Manufacturing - 1.2%
	302,079	Range Resources Corp. (a)		9,989,753
	Merchant Wholesalers, Durable Goods - 0.1%
	9,801	REX American Resources Corp. (a)		935,604
	Merchant Wholesalers, Nondurable Goods - 0.5%
	137,074	World Fuel Services Corp.		3,799,691
	Mining (except Oil and Gas) - 0.9%
	447,663	CNX Resources Corp. (a)		7,731,140
	Oil and Gas Extraction - 28.0%
	230,785	Antero Resources Corp. (a)		9,148,317
	213,148	APA Corp.		7,922,711
	111,093	Berry Petroleum Corp.		948,734
	115,400	Brigham Minerals Inc.		3,063,870
	1,124,714	Centennial Resource Development, Inc. (a)		7,490,595
	864,062	Clean Energy Fuels Corp. (a)		5,599,122
	518,629	Comstock Resources Inc. (a)		8,261,760
	147,589	Continental Resources, Inc.		10,167,406
	303,225	Coterra Energy, Inc.		9,275,653
	63,134	Crescent Energy Co. (b)		921,756
	140,474	Devon Energy Corp.		8,828,791
	184,559	Earthstone Energy, Inc. (a)(b)		2,618,892
	72,249	EOG Resources, Inc.		8,035,534
	216,921	EQT Corp.		9,551,032
	240,920	Green Plains, Inc. (a)		8,677,938
	1,300,456	Kosmos Energy Ltd. (a)		8,244,891
	361,241	Magnolia Oil & Gas Corp.		8,716,745
	343,472	Marathon Oil Corp.		8,518,106
	159,493	Matador Resources Co.		9,215,506
	235,640	Murphy Oil Corp.		8,280,390
	58,999	Oasis Petroleum, Inc.		7,566,032
	162,886	Occidental Petroleum Corp.		10,709,755
	175,916	Ovintiv, Inc.		8,987,548
	109,319	Par Pacific Holdings, Inc. (a)		1,803,764
	123,663	PDC Energy, Inc.		8,123,422
	97,860	Phillips 66		8,709,540
	81,189	Ranger Oil Corp.		3,090,053
	205,768	SM Energy Co.		8,494,103
	1,143,255	Southwestern Energy Co. (a)		8,071,380
	271,169	Talos Energy, Inc. (a)		5,138,653
	2,531,299	Tellurian, Inc. (a)(b)		9,416,432
	286,301	VAALCO Energy, Inc.		1,697,765
	726,562	W&T Offshore, Inc. (a)		3,611,013
				228,907,209
	Petroleum and Coal Products Manufacturing - 8.9%
	89,049	ConocoPhillips		8,676,044
	113,747	CVR Energy, Inc.		3,815,074
	103,561	Exxon Mobil Corp.		10,038,168
	184,563	HF Sinclair Corp.		8,825,803
	92,710	Laredo Petroleum, Inc. (a)		8,220,596
	96,025	Marathon Petroleum Corp.		8,801,651
	257,964	PBF Energy, Inc. (a)		8,603,099
	74,043	Valero Energy Corp.		8,201,743
	578,246	Vertex Energy, Inc. (a)(b)		7,852,581
				73,034,759
	Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 1.3%
	5,579	Texas Pacific Land Corp.		10,231,049
	Support Activities for Mining - 8.5%
	192,684	California Resources Corp.		8,643,804
	173,598	Callon Petroleum Co. (a)		7,992,452
	128,983	Civitas Resources, Inc.		7,604,838
	122,867	Denbury, Inc. (a)		8,835,366
	66,907	Diamondback Energy, Inc.		8,565,434
	36,912	Gulfport Energy Corp. (a)		3,397,381
	81,458	Hess Corp.		9,161,581
	209,332	Northern Oil and Gas, Inc.		6,035,042
	38,412	Pioneer Natural Resources Co.		9,101,723
				69,337,621
	Utilities - 0.5%
	246,093	Archaea Energy, Inc. (a)		4,031,003
		TOTAL COMMON STOCKS (Cost $406,079,902)	$	435,571,413
	SHORT TERM INVESTMENTS - 43.4%
	Money Market Funds - 43.4%
	290,628,057	Dreyfus Government Cash Management Institutional Shares, 1.83% (c)(d)	$	290,628,057
	63,453,073	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (c)		63,453,073
		TOTAL SHORT TERM INVESTMENTS (Cost $354,081,130)	$	354,081,130
		TOTAL INVESTMENTS (Cost $760,161,032) - 96.7% (e)	$	789,652,543
		Other Assets in Excess of Liabilities - 3.3%		26,982,811
		TOTAL NET ASSETS - 100.0%	$	816,635,354

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, 2022.

^(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 $356,233,649.

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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 Oil & Gas Exploration & Production Select Industry Index	2.1900 % representing 1 month SOFR rate + spread	Credit Suisse International	12/7/2022	51,855	$	194,438,618	$	80,389,530
Total return of S&P Oil & Gas Exploration & Production Select Industry Index	2.0700 % representing 1 month SOFR rate + spread	BNP Paribas	12/8/2022	61,000		221,919,830		101,359,940
Total return of S&P Oil & Gas Exploration & Production Select Industry Index	1.8100 % representing 1 month SOFR rate + spread	Citibank N.A.	12/13/2022	45,437		181,270,617		59,403,045
Total return of S&P Oil & Gas Exploration & Production Select Industry Index	2.2700 % representing 1 month SOFR rate + spread	UBS Securities LLC	12/14/2022	59,294		269,039,390		43,763,130
Total return of S&P Oil & Gas Exploration & Production Select Industry Index	2.0300 % representing 1 month SOFR rate + spread	Goldman Sachs	8/30/2023	9,735		51,298,099		(7,694	)
					$	917,966,554	$	284,907,951

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	SHORT TERM INVESTMENTS - 118.1%
	Money Market Funds - 118.1%
	70,590,288	Dreyfus Government Cash Management Institutional Shares, 1.83% (a)	$	70,590,288
	47,537,138	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (a)		47,537,138
		TOTAL SHORT TERM INVESTMENTS (Cost $118,127,426) (b)	$	118,127,426
		TOTAL INVESTMENTS (Cost $118,127,426) - 118.1%	$	118,127,426
		Liabilities in Excess of Other Assets - (18.1)%		(18,086,238	)
		TOTAL NET ASSETS - 100.0%	$	100,041,188

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, 2022.

^(b)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $53,500,425.

Short Total Return Swap Contracts (Unaudited)

July 31, 2022

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)
1.1300 % representing 1 month SOFR rate + spread	Total return of S&P Oil & Gas Exploration & Production Select Industry Index	J.P. Morgan		12/6/2022		10,277	$	48,309,556	$	(5,825,276	)
1.8500 % representing 1 month SOFR rate + spread	Total return of S&P Oil & Gas Exploration & Production Select Industry Index	Credit Suisse International		12/7/2022		8,357		39,757,463		(4,270,947	)
1.4800 % representing 1 month SOFR rate + spread	Total return of S&P Oil & Gas Exploration & Production Select Industry Index	Citibank N.A.		12/13/2022		6,416		29,842,304		(3,940,910	)
1.7300 % representing 1 month SOFR rate + spread	Total return of S&P Oil & Gas Exploration & Production Select Industry Index	Bank of America Merrill Lynch		12/13/2022		5,255		28,037,895		390,991
1.8500 % representing 1 month SOFR rate + spread	Total return of S&P Oil & Gas Exploration & Production Select Industry Index	UBS Securities LLC		12/14/2022		7,671		39,689,745		(771,052	)
							$	185,636,963	$	(14,417,194	)

Direxion Daily Select Large Caps & FANGs Bull 2X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 76.2%
	Administrative and Support Services - 3.7%
	3,718	Atlassian Corp. PLC ADR (United Kingdom) (a)	$	778,252
	Computer and Electronic Product Manufacturing - 20.2%
	8,536	Advanced Micro Devices, Inc. (a)		806,396
	4,606	Analog Devices, Inc. (a)		792,048
	4,880	Apple, Inc.		793,049
	3,555	Enphase Energy, Inc. (a)		1,010,260
	4,342	NVIDIA Corp.		788,637
				4,190,390
	General Merchandise Retailers - 4.0%
	6,143	Amazon.com, Inc. (a)		828,998
	Motion Picture and Sound Recording Industries - 3.7%
	3,411	Netflix, Inc. (a)		767,134
	Professional, Scientific, and Technical Services - 10.8%
	4,443	Meta Platforms, Inc. (a)		706,881
	1,683	ServiceNow, Inc. (a)		751,729
	5,259	Snowflake, Inc. (a)		788,376
				2,246,986
	Publishing Industries - 18.7%
	4,098	CrowdStrike Holdings, Inc. (a)		752,393
	8,018	Datadog, Inc. (a)		817,916
	1,730	Intuit, Inc.		789,174
	2,888	Microsoft Corp.		810,777
	20,134	Shopify, Inc. ADR (Canada) (a)		701,267
				3,871,527
	Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 3.4%
	38,212	Lucid Group, Inc. (a)(b)		697,369
	Transportation Equipment Manufacturing - 7.8%
	23,153	Rivian Automotive, Inc. (a)		794,148
	921	Tesla Motors, Inc. (a)		821,026
				1,615,174
	Web Search Portals, Libraries, Archives, and Other Information Services - 3.9%
	6,970	Alphabet, Inc. Class A (a)		810,750
		TOTAL COMMON STOCKS (Cost $15,264,025)	$	15,806,580
	SHORT TERM INVESTMENTS - 27.6%
	Money Market Funds - 27.6%
	4,254,881	Dreyfus Government Cash Management Institutional Shares, 1.83% (c)(d)	$	4,254,881
	1,320,144	Goldman Sachs Financial Square Government Fund Institutional Shares, 1.69% (c)		1,320,144
	160,242	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (c)		160,242
		TOTAL SHORT TERM INVESTMENTS (Cost $5,735,267)	$	5,735,267
		TOTAL INVESTMENTS (Cost $20,999,292) - 103.8% (e)	$	21,541,847
		Liabilities in Excess of Other Assets - (3.8)%		(785,479	)
		TOTAL NET ASSETS - 100.0%	$	20,756,368

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, 2022.

^(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 $9,851,681.

ADR - American Depository Receipt

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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 FANG 20 Index	2.1200% representing 1 month SOFR rate + spread	UBS Securities LLC		12/14/2022		85,280	$	21,319,471	$	128,337
Total return of ICE FANG 20 Index	2.1800% representing 1 month SOFR rate + spread	Barclays		4/3/2023		16,883		4,447,254		(208,820	)
							$	25,766,725	$	(80,483	)

Direxion Daily Software Bull 2X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 75.8%
	Administrative and Support Services - 0.6%
	56	Alarm.com, Inc. (a)	$	3,963
	67	Envestnet, Inc. (a)		3,904
	69	nCino, Inc. (a)		2,228
	225	SentinelOne, Inc. (a)		5,591
	56	Sprout Social, Inc. (a)		2,918
				18,604
	Computer and Electronic Product Manufacturing - 4.5%
	630	BlackBerry, Ltd. ADR (Canada) (a)		3,862
	79	Dolby Laboratories, Inc.		6,115
	810	Fortinet, Inc. (a)		48,316
	37	InterDigital, Inc.		2,271
	291	Mandiant, Inc. (a)		6,629
	166	NCR Corp. (a)		5,387
	129	Roper Technologies, Inc.		56,330
	127	Teradata Corp. (a)		4,863
	126	Xperi Holdings, Corp.		2,112
				135,885
	Data Processing, Hosting and Related Services - 1.5%
	84	Five9, Inc. (a)		9,082
	50	Pegasystems, Inc.		2,008
	103	RingCentral, Inc. (a)		5,097
	245	VMware, Inc.		28,469
				44,656
	Electronics and Appliance Stores - 0.4%
	156	Smartsheet, Inc. (a)		4,689
	337	UiPath, Inc. (a)		6,177
				10,866
	Food Services and Drinking Places - 0.4%
	77	Manhattan Associates, Inc. (a)		10,832
	Heavy and Civil Engineering Construction - 0.1%
	66	BlackLine, Inc. (a)		4,172
	Lessors of Nonfinancial Intangible Assets (except Copyrighted Works) - 0.1%
	129	Marathon Digital Holdings, Inc. (a)		1,676
	Merchant Wholesalers, Durable Goods - 0.1%
	72	New Relic, Inc. (a)		4,368
	Motion Picture and Sound Recording Industries - 0.8%
	192	Take-Two Interactive Software, Inc. (a)		25,484
	Other Information Services - 0.1%
	83	LiveRamp Holdings, Inc. (a)		2,209
	Performing Arts, Spectator Sports, and Related Industries - 4.0%
	949	Activision Blizzard, Inc.		75,873
	341	Electronic Arts, Inc.		44,749
				120,622
	Printing and Related Support Activities - 0.0%†
	93	BTRS Holdings, Inc. (a)		600
	Professional, Scientific, and Technical Services - 11.0%
	73	Alteryx, Inc. (a)		3,535
	102	Asana, Inc. (a)		1,971
	34	Aspen Technology, Inc. (a)		6,939
	16	CS Disco, Inc. (a)		393
	107	Digital Turbine, Inc. (a)		2,148
	16	Docebo, Inc. ADR (Canada) (a)		504
	88	Elastic NV ADR (Netherlands) (a)		7,030
	67	Jamf Holding Corp. (a)		1,637
	84	LivePerson, Inc. (a)		1,146
	158	Momentive Global, Inc. (a)		1,367
	268	Nutanix, Inc. (a)		4,055
	328	Open Text Corp. ADR (Canada)		13,415
	1,985	Palantir Technologies, Inc. (a)		20,545
	120	Palto Alto Networks, Inc. (a)		59,892
	58	Paycom Software, Inc. (a)		19,168
	48	Paylocity Holding Corp. (a)		9,885
	49	PROS Holdings, Inc. (a)		1,194
	126	Qualtrics International, Inc. (a)		1,607
	133	Riot Blockchain, Inc. (a)		974
	243	ServiceNow, Inc. (a)		108,538
	1,325	Snap, Inc. (a)		13,091
	111	Sumo Logic, Inc. (a)		751
	537	The Trade Desk, Inc. (a)		24,165
	201	Unity Software, Inc. (a)		7,515
	78	Verint Systems, Inc. (a)		3,562
	98	Zscaler, Inc. (a)		15,196
				330,223
	Publishing Industries (except Internet) - 51.1%
	139	ACI Worldwide, Inc. (a)		3,966
	451	Adobe Systems, Inc. (a)		184,964
	63	Altair Engineering, Inc. (a)		3,711
	106	ANSYS, Inc. (a)		29,573
	24	AppFolio, Inc. (a)		2,443
	50	Appian, Corp. (a)		2,426
	264	Autodesk, Inc. (a)		57,108
	107	Avalara, Inc. (a)		9,354
	228	Bentley Systems, Inc.		9,029
	113	Bill.com Holdings, Inc. (a)		15,264
	189	Black Knight, Inc. (a)		12,414
	55	Blackbaud, Inc. (a)		3,373
	174	Box, Inc. (a)		4,949
	87	C3.ai, Inc. (a)		1,602
	335	Cadence Design Systems, Inc. (a)		62,337
	167	Ceridian HCM Holding, Inc. (a)		9,147
	151	Citrix Systems, Inc.		15,313
	54	CommVault Systems, Inc. (a)		3,029
	142	Confluent, Inc. (a)		3,614
	19	Consensus Cloud Solutions, Inc. (a)		1,027
	91	Coupa Software, Inc. (a)		5,953
	259	CrowdStrike Holdings, Inc. (a)		47,552
	313	Datadog, Inc. (a)		31,929
	103	Descartes Systems Group, Inc. ADR (Canada) (a)		7,111
	243	DocuSign, Inc. (a)		15,547
	37	Domo, Inc. (a)		1,036
	325	Dropbox, Inc. (a)		7,390
	92	Duck Creek Technologies, Inc. (a)		1,270
	239	Dynatrace, Inc. (a)		8,994
	48	Everbridge, Inc. (a)		1,207
	31	Fair Isaac Corp. (a)		14,323
	101	Guidewire Software, Inc. (a)		7,850

55	HubSpot, Inc. (a)		16,940
343	Intuit, Inc.		156,466
163	Lightspeed Commerce, Inc. ADR (Canada) (a)		3,496
727	Microsoft Corp.		204,098
11	MicroStrategy, Inc. Class A (a)		3,147
83	N-able, Inc. (a)		815
706	NortonLifeLock, Inc.		17,318
1,911	Oracle Corp.		148,752
95	PagerDuty, Inc. (a)		2,463
75	Ping Identity Holding Corp. (a)		1,286
53	Progress Software Corp.		2,489
128	PTC, Inc. (a)		15,793
69	Q2 Holdings, Inc. (a)		3,029
41	Qualys, Inc. (a)		5,015
71	Rapid7, Inc. (a)		4,542
114	SailPoint Technologies Holdings, Inc. (a)		7,270
1,028	Salesforce.com, Inc. (a)		189,173
195	Splunk, Inc. (a)		20,262
44	SPS Commerce, Inc. (a)		5,269
186	Synopsys, Inc. (a)		68,355
114	Tenable Holdings, Inc. (a)		4,406
50	Tyler Technologies, Inc. (a)		19,950
133	Varonis Systems, Inc. (a)		3,382
241	Workday, Inc. (a)		37,379
58	Workiva, Inc. (a)		3,799
149	Zendesk, Inc. (a)		11,238
147	Zuora, Inc. (a)		1,251
			1,542,188
Rental and Leasing Services - 0.0% †
48	Cerence, Inc. (a)		1,353
Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 0.1%
216	E2open, Inc. (a)		1,458
260	Matterport, Inc. (a)		1,105
			2,563
Telecommunications - 1.0%
144	8x8, Inc. (a)		704
276	Zoom Video Communications, Inc. (a)		28,665
			29,369
	TOTAL COMMON STOCKS (Cost $2,936,640)	$	2,285,670
SHORT TERM INVESTMENTS - 25.9%
Money Market Funds - 25.9%
781,863	Dreyfus Government Cash Management Institutional Shares, 1.83% (b)	$	781,863
	TOTAL SHORT TERM INVESTMENTS (Cost $781,863)	$	781,863
	TOTAL INVESTMENTS (Cost $3,718,503) - 101.7% (c)	$	3,067,533
	Liabilities in Excess of Other Assets - (1.7)%		(50,987	)
	TOTAL NET ASSETS - 100.0%	$	3,016,546

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)  Represents annualized seven-day yield at July 31, 2022.

^(c)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $1,549,316.

ADR - American Depository Receipt

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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 North American Expanded Technology Software Index	2.1300 % representing 1 month SOFR rate + spread	Barclays		12/7/2022		738	$	495,471	$	(73,989	)
Total return of S&P North American Expanded Technology Software Index	2.2200 % representing 1 month SOFR rate + spread	UBS Securities LLC		12/14/2022		5,795		3,298,162		30,269
							$	3,793,633	$	(43,720	)

Direxion Daily TIPS Bull 2X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	INVESTMENT COMPANIES - 72.7%
	52,243	iShares TIPS Bond ETF (a)	$	6,176,690
		TOTAL INVESTMENT COMPANIES (Cost $6,312,073)	$	6,176,690
	SHORT TERM INVESTMENTS - 27.1%
	Money Market Funds - 27.1%
	2,302,264	Dreyfus Government Cash Management Institutional Shares, 1.83% (b)	$	2,302,264
		TOTAL SHORT TERM INVESTMENTS (Cost $2,302,264)	$	2,302,264
		TOTAL INVESTMENTS (Cost $8,614,337) - 99.8% (c)	$	8,478,954
		Other Assets in Excess of Liabilities - 0.2%		14,979
		TOTAL NET ASSETS - 100.0%	$	8,493,933

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, 2022.

^(c)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $1,875,916.

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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 TIPS ETF Index	1.7300 % representing 1 month SOFR rate + spread	UBS Securities LLC	12/14/2022		91,440	$	10,966,338	$	26,220

Direxion Daily TIPS Bear 2X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	SHORT TERM INVESTMENTS - 106.1%
	Money Market Funds - 106.1%
	7,993,111	Dreyfus Government Cash Management Institutional Shares, 1.83% (a)	$	7,993,111
		TOTAL SHORT TERM INVESTMENTS (Cost $7,993,111)	$	7,993,111
		TOTAL INVESTMENTS (Cost $7,993,111) - 106.1%	$	7,993,111
		Liabilities in Excess of Other Assets - (6.1)%		(462,481	)
		TOTAL NET ASSETS - 100.0%	$	7,530,630

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, 2022.

Short Total Return Swap Contracts (Unaudited)

July 31, 2022

Terms of Payments to be Received at Termination	Terms of Payments to be Paid at Termination	Counterparty	Termination Date	Contracts		Notional Amount		Unrealized Depreciation
1.3700 % representing 1 month SOFR rate + spread	Total return of iShares TIPS Bond ETF	UBS Securities LLC	12/14/2022		127,384	$	14,652,237	$	(453,114	)

Direxion Daily Travel & Vacation Bull 2X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 78.1%
	Accommodation - 27.8%
	6,273	Boyd Gaming Co.	$	348,214
	8,999	Caesars Entertainment Inc. (a)		411,164
	2,689	Choice Hotels International, Inc.		325,020
	2,486	Hilton Grand Vacations, Inc. (a)		101,354
	8,074	Hilton Worldwide Holdings, Inc.		1,034,037
	23,984	Host Hotels & Resorts, Inc.		427,155
	11,781	Huazhu Group Ltd. ADR		451,802
	1,287	Hyatt Hotels Corp. (a)		106,499
	8,859	InterContinental Hotels Group PLC ADR (United Kingdom)		534,286
	19,330	Las Vegas Sands Corp. (a)		728,548
	6,627	Marriott International, Inc. Class A		1,052,500
	20,158	Melco Crown Entertainment Ltd. ADR (a)		103,814
	17,010	MGM Resorts International		556,737
	6,296	Park Hotels & Resorts, Inc.		98,155
	3,558	Penn National Gaming, Inc. (a)		122,929
	9,500	Sunstone Hotel Investors, Inc. (a)		107,635
	2,223	Travel + Leisure Co.		95,834
	1,687	Vail Resorts, Inc.		400,038
	5,281	Wyndham Hotels & Resorts, Inc.		366,554
				7,372,275
	Administrative and Support Services - 6.6%
	509	Booking Holdings, Inc. (a)		985,266
	6,410	Live Nation Entertainment, Inc. (a)		602,476
	3,875	Six Flags Entertainment Corp. (a)		87,846
	4,575	TripAdvisor, Inc. (a)		86,971
				1,762,559
	Air Transportation - 13.5%
	8,410	Alaska Air Group, Inc. (a)		372,816
	759	Allegiant Travel Co. (a)		87,520
	30,586	American Airlines Group, Inc. (a)		419,334
	24,398	Delta Air Lines, Inc. (a)		775,857
	10,588	JetBlue Airways Corp. (a)		89,151
	6,528	Ryanair Holdings PLC ADR (Ireland) (a)		476,544
	19,151	Southwest Airlines Co. (a)		730,036
	5,425	Spirit Airlines, Inc. (a)		134,377
	13,519	United Continental Holdings, Inc. (a)		496,823
				3,582,458
	Amusement, Gambling, and Recreation Industries - 5.9%
	2,101	SeaWorld Entertainment, Inc. (a)		100,281
	10,295	The Walt Disney Co. (a)		1,092,299
	5,981	Wynn Resorts Ltd. (a)		379,674
				1,572,254
	Data Processing, Hosting and Related Services - 3.9%
	9,404	Airbnb, Inc. (a)		1,043,656
	Management of Companies and Enterprises - 5.5%
	41,842	Carnival Corp. ADR (a)		379,089
	26,635	Norwegian Cruise Line Holdings Ltd. ADR (a)		323,615
	29,071	Trip.com Group Ltd. ADR (China) (a)		749,450
				1,452,154
	Other Information Services - 0.4%
	15,136	Sabre Corp. (a)		93,086
	Performing Arts, Spectator Sports, and Related Industries - 1.5%
	1,956	Churchill Downs, Inc.		410,369
	Real Estate - 9.0%
	6,806	Apple Hospitality REIT, Inc.		113,524
	10,356	Gaming & Leisure Properties, Inc.		538,408
	2,653	Marriott Vacations Worldwide Corp.		363,249
	5,051	Pebblebrook Hotel Trust		98,797
	3,935	Ryman Hospitality Properties, Inc. (a)		348,405
	27,367	VICI Properties, Inc.		935,678
				2,398,061
	Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 0.5%
	16,218	Virgin Galactic Holdings, Inc. (a)		120,662
	Support Activities for Transportation - 2.2%
	5,442	Expedia, Inc. (a)		577,124
	Water Transportation - 1.3%
	8,951	Royal Caribbean Cruises Ltd. ADR (Liberia) (a)		346,494
		TOTAL COMMON STOCKS (Cost $26,417,929)	$	20,731,152
	SHORT TERM INVESTMENTS - 23.2%
	Money Market Funds - 23.2%
	4,628,342	Dreyfus Government Cash Management Institutional Shares, 1.83% (c)(d)	$	4,628,342
	2	Goldman Sachs Financial Square Government Fund Institutional Shares, 1.69% (c)		2
	1,530,269	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (c)		1,530,269
		TOTAL SHORT TERM INVESTMENTS (Cost $6,158,613)	$	6,158,613
		TOTAL INVESTMENTS (Cost $32,576,542) - 101.3% (e)	$	26,889,765
		Liabilities in Excess of Other Assets - (1.3)%		(362,259	)
		TOTAL NET ASSETS - 100.0%	$	26,527,506

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, 2022.

^(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 $12,004,429.

ADR - American Depository Receipt

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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 BlueStar® Travel and Vacation Index	1.9800 % representing 1 month SOFR rate + spread	J.P. Morgan		12/6/2022		800	$	98,540	$	(18	)
Total return of BlueStar® Travel and Vacation Index	2.0300 % representing 1 month SOFR rate + spread	Bank of America Merrill Lynch		12/13/2022		17,986		2,590,624		(382,879	)
Total return of BlueStar® Travel and Vacation Index	1.9800 % representing 1 month SOFR rate + spread	J.P. Morgan		9/1/2023		243,686		29,495,269		469,505
							$	32,184,433	$	86,608

Direxion Daily US Infrastructure Bull 2X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 30.8%
	Administrative and Support Services - 0.8%
	225	Mastec, Inc. (a)	$	17,759
	186	NV5 Global, Inc. (a)		25,222
				42,981
	Air Transportation - 0.3%
	256	Atlas Air Worldwide Holdings, Inc. (a)		19,382
	Computer and Electronic Product Manufacturing - 0.4%
	342	Itron, Inc. (a)		19,973
	Construction of Buildings - 0.7%
	247	Dycom Industries, Inc. (a)		25,481
	1,750	Tutor Perini Corp. (a)		15,890
				41,371
	Couriers and Messengers - 0.4%
	771	Air Transport Services Group, Inc. (a)		24,163
	Electrical Equipment, Appliance, and Component Manufacturing - 0.6%
	2,511	American Superconductor Corp. (a)		15,417
	779	Powell Industries, Inc.		18,665
				34,082
	Fabricated Metal Product Manufacturing - 0.4%
	90	Valmont Industries, Inc.		24,433
	Heavy and Civil Engineering Construction - 2.1%
	873	Construction Partners, Inc. (a)		20,760
	557	Granite Construction, Inc.		16,654
	1,483	Great Lakes Dredge & Dock Corp. (a)		19,175
	224	MYR Group, Inc. (a)		21,331
	796	Primoris Services Corp.		18,595
	760	Sterling Construction Co., Inc. (a)		19,540
				116,055
	Machinery Manufacturing - 0.8%
	418	Arcosa, Inc.		21,552
	3,092	TechnipFMC PLC ADR (United Kingdom) (a)		25,014
				46,566
	Management of Companies and Enterprises - 0.9%
	497	Brookfield Infrastructure Partners L.P.		19,796
	3,082	Frontline Ltd. ADR (a)		29,556
				49,352
	Pipeline Transportation - 1.2%
	1,699	Scorpio Tankers, Inc. ADR (Monaco)		65,598
	Professional, Scientific, and Technical Services - 2.5%
	289	AECOM		20,808
	967	Fluor Corp. (a)		24,571
	2,305	Infrastructure and Energy Alternatives, Inc. (a)		32,547
	157	Jacobs Engineering Group, Inc.		21,556
	385	Stantec, Inc. ADR (Canada)		19,019
	144	Tetra Tech, Inc.		22,071
				140,572
	Rail Transportation - 1.4%
	163	Canadian National Railway Co. ADR (Canada)		20,649
	269	Canadian Pacific Railway Ltd. ADR (Canada)		21,216
	587	CSX Corp.		18,978
	81	Union Pacific Corp.		18,411
				79,254
	Real Estate - 1.3%
	82	American Tower Corp.		22,208
	110	Crown Castle International Corp.		19,873
	129	Digital Realty Trust, Inc.		17,086
	1,653	Uniti Group, Inc.		16,480
				75,647
	Rental and Leasing Services - 0.7%
	873	Global Ship Lease, Inc. ADR (United Kingdom)		16,343
	267	Ryder System, Inc.		20,911
				37,254
	Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 0.9%
	4,064	DHT Holdings, Inc. ADR		26,701
	1,347	Verra Mobility Corp. (a)		22,212
				48,913
	Specialty Trade Contractors - 0.5%
	204	Quanta Services, Inc.		28,301
	Support Activities for Transportation - 2.0%
	2,187	Daseke, Inc. (a)		18,327
	185	Forward Air Corp.		19,412
	258	Hub Group, Inc. (a)		19,711
	101	J.B. Hunt Transport Services, Inc.		18,510
	220	Matson, Inc.		20,167
	73	Norfolk Southern Corp.		18,336
				114,463
	Telecommunications - 1.1%
	536	Argan, Inc.		19,918
	28	Equinix, Inc.		19,705
	64	SBA Communications Corp.		21,490
				61,113
	Transportation Equipment Manufacturing - 0.9%
	1,338	Embraer SA ADR (Brazil) (a)		12,203
	531	The Greenbrier Companies, Inc.		16,896
	222	Wabtec Corp.		20,750
				49,849
	Truck Transportation - 4.2%
	236	ArcBest Corp.		20,910
	1,274	Heartland Express, Inc.		20,231
	360	Knight-Swift Transportation Holdings, Inc. Class A		19,782
	1,246	Marten Transport Ltd.		26,864
	68	Old Dominion Freight Line, Inc.		20,639
	73	Saia, Inc. (a)		17,363
	776	Schneider National, Inc.		19,656
	207	TFI International, Inc. ADR (Canada)		20,685
	1,171	Universal Logistics Holdings, Inc.		35,189
	4,165	US Xpress Enterprises, Inc. (a)		14,619
	446	Werner Enterprises, Inc.		19,606
				235,544
	Utilities - 3.1%
	1,429	Algonquin Power & Utilities Corp. ADR (Canada)		19,992
	223	American Electric Power Co., Inc.		21,979
	299	Black Hills Corp.		23,083
	691	MDU Resources Group, Inc.		19,742
	728	NiSource, Inc.		22,131
	511	NRG Energy, Inc.		19,290
	273	Ormat Technologies Inc.		23,625
	294	Xcel Energy, Inc.		21,515
				171,357
	Water Transportation - 3.6%
	1,448	Atlas Corp. ADR (United Kingdom)		16,913
	1,654	Costamare, Inc. ADR (Marshall Islands)		19,401

257	Danaos Corp. ADR (Greece)		18,794
496	Eagle Bulk Shipping, Inc. ADR (Marshall Islands)		26,253
2,390	Euronav NV ADR (Belgium)		32,385
321	Kirby Corp. (a)		20,364
2,495	SFL Corp. Ltd. ADR		24,875
997	Star Bulk Carriers Corp. ADR (Greece)		25,947
345	ZIM Integrated Shipping Services Ltd. ADR (United Kingdom) (b)		17,188
			202,120
	TOTAL COMMON STOCKS (Cost $1,644,850)	$	1,728,343
SHORT TERM INVESTMENTS - 55.7%
Money Market Funds - 55.7%
1,986,506	Dreyfus Government Cash Management Institutional Shares, 1.83% (c)(d)	$	1,986,506
1,140,000	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (c)		1,140,000
	TOTAL SHORT TERM INVESTMENTS (Cost $3,126,506)	$	3,126,506
	TOTAL INVESTMENTS (Cost $4,771,356) - 86.5% (e)	$	4,854,849
	Other Assets in Excess of Liabilities - 13.5%		757,191
	TOTAL NET ASSETS - 100.0%	$	5,612,040

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, 2022.

^(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 $2,670,915.

ADR - American Depository Receipt

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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 Indxx US Infrastructure Index	2.0300 % representing 1 month SOFR rate + spread	Bank of America Merrill Lynch		12/13/2022		2,147	$	4,839,221	$	372,915
Total return of Indxx US Infrastructure Index	2.1700 % representing 1 month SOFR rate + spread	UBS Securities LLC		12/14/2022		1,766		4,182,174		144,466
							$	9,021,395	$	517,381

Direxion Daily Mid Cap Bull 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	INVESTMENT COMPANIES - 54.4%
	116,160	iShares Core S&P Mid-Cap ETF (a)	$	29,148,029
		TOTAL INVESTMENT COMPANIES (Cost $27,775,452)	$	29,148,029
	SHORT TERM INVESTMENTS - 47.9%
	Money Market Funds - 47.9%
	14,352,056	Dreyfus Government Cash Management Institutional Shares, 1.83% (b)	$	14,352,056
	11,298,637	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (b)		11,298,637
		TOTAL SHORT TERM INVESTMENTS (Cost $25,650,693)	$	25,650,693
		TOTAL INVESTMENTS (Cost $53,426,145) - 102.3% (c)	$	54,798,722
		Liabilities in Excess of Other Assets - (2.3)%		(1,209,409	)
		TOTAL NET ASSETS - 100.0%	$	53,589,313

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, 2022.

^(c)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $41,281,779.

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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 MidCap 400® Index	1.8300% representing 1 month SOFR rate + spread	J.P. Morgan		12/6/2022		15,307	$	35,567,920	$	2,886,815
Total return of S&P MidCap 400® Index	1.8300% representing 1 month SOFR rate + spread	Citibank N.A.		12/13/2022		9,366		25,670,139		(2,056,476	)
Total return of S&P MidCap 400® Index	1.9800% representing 1 month SOFR rate + spread	Bank of America Merrill Lynch		12/13/2022		14,286		35,275,150		623,230
Total return of S&P MidCap 400® Index	2.0700% representing 1 month SOFR rate + spread	UBS Securities LLC		12/14/2022		13,422		33,974,085		(236,142	)
							$	130,487,294	$	1,217,427

Direxion Daily S&P 500^® Bull 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	INVESTMENT COMPANIES - 70.7%
	4,666,993	iShares Core S&P 500 ETF (a)	$	1,933,441,860
		TOTAL INVESTMENT COMPANIES (Cost $1,852,202,674)	$	1,933,441,860
	SHORT TERM INVESTMENTS - 29.1%
	Money Market Funds - 29.1%
	323,872,584	Dreyfus Government Cash Management Institutional Shares, 1.83% (b)	$	323,872,584
	131,564,769	Dreyfus Treasury Securities Cash Management Institutional Shares, 1.45% (b)		131,564,769
	339,600,338	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (b)		339,600,338
		TOTAL SHORT TERM INVESTMENTS (Cost $795,037,691)	$	795,037,691
		TOTAL INVESTMENTS (Cost $2,647,240,365) - 99.8% (c)	$	2,728,479,551
		Other Assets in Excess of Liabilities - 0.2%		5,827,020
		TOTAL NET ASSETS - 100.0%	$	2,734,306,571

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, 2022.

^(c)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $1,983,138,937.

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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® Index	2.0300 % representing 1 month SOFR rate + spread	Goldman Sachs		10/26/2022		234,945	$	903,739,788	$	66,110,912
Total return of S&P 500® Index	2.0000 % representing 1 month SOFR rate + spread	Barclays		12/7/2022		243,646		961,191,874		44,847,573
Total return of S&P 500® Index	1.7800 % representing 1 month SOFR rate + spread	Citibank N.A.		12/13/2022		242,016		1,021,642,590		(21,435,793	)
Total return of S&P 500® Index	1.9800 % representing 1 month SOFR rate + spread	Bank of America Merrill Lynch		12/13/2022		187,643		744,018,660		30,728,770
Total return of S&P 500® Index	2.1000 % representing 1 month SOFR rate + spread	UBS Securities LLC		12/14/2022		159,922		627,887,176		32,459,270
Total return of S&P 500® Index	2.1800 % representing 1 month SOFR rate + spread	BNP Paribas		12/15/2022		230,000		901,430,728		47,917,934
Total return of S&P 500® Index	1.8800 % representing 1 month SOFR rate + spread	J.P. Morgan		2/10/2023		219,740		878,392,860		29,074,614
							$	6,038,303,676	$	229,703,280

Direxion Daily S&P 500^® Bear 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	SHORT TERM INVESTMENTS - 111.0%
	Money Market Funds - 111.0%
	397,228,785	Dreyfus Government Cash Management Institutional Shares, 1.83% (a)	$	397,228,785
	89,051,016	Dreyfus Treasury Securities Cash Management Institutional Shares, 1.45% (a)		89,051,016
	104,434,053	Goldman Sachs Financial Square Government Fund Institutional Shares, 1.69% (a)		104,434,053
	104,948,616	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (a)		104,948,616
		TOTAL SHORT TERM INVESTMENTS (Cost $695,662,470) (b)	$	695,662,470
		TOTAL INVESTMENTS (Cost $695,662,470) - 111.0%	$	695,662,470
		Liabilities in Excess of Other Assets - (11.0)%		(68,665,612	)
		TOTAL NET ASSETS - 100.0%	$	626,996,858

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, 2022.

^(b)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $426,727,282.

Short Total Return Swap Contracts (Unaudited)

July 31, 2022

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)
1.6300 % representing 1 month SOFR rate + spread	Total return of S&P 500® Index	J.P. Morgan		12/6/2022		22,799	$	91,583,958	$	(2,608,776	)
1.8600 % representing 1 month SOFR rate + spread	Total return of S&P 500® Index	Barclays		12/7/2022		70,439		271,614,672		(19,228,084	)
1.8300 % representing 1 month SOFR rate + spread	Total return of S&P 500® Index	Goldman Sachs		12/9/2022		98,307		389,038,661		(16,910,604	)
1.5800 % representing 1 month SOFR rate + spread	Total return of S&P 500® Index	Citibank N.A.		12/13/2022		26,396		118,718,685		9,262,092
1.7800 % representing 1 month SOFR rate + spread	Total return of S&P 500® Index	Bank of America Merrill Lynch		12/13/2022		57,737		244,179,394		5,313,498
1.9000 % representing 1 month SOFR rate + spread	Total return of S&P 500® Index	UBS Securities LLC		12/14/2022		134,120		544,556,544		(9,478,130	)
1.5700 % representing 1 month SOFR rate + spread	Total return of S&P 500® Index	BNP Paribas		12/15/2022		45,611		178,002,401		(10,276,673	)
							$	1,837,694,315	$	(43,926,677	)

Direxion Daily Small Cap Bull 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	INVESTMENT COMPANIES - 56.9%
	3,629,365	iShares Russell 2000 ETF (a)(b)	$	679,598,596
		TOTAL INVESTMENT COMPANIES (Cost $717,843,952)	$	679,598,596
	SHORT TERM INVESTMENTS - 62.0%
	Money Market Funds - 62.0%
	470,699,171	Dreyfus Government Cash Management Institutional Shares, 1.83% (c)(d)	$	470,699,171
	45,107,429	Goldman Sachs Financial Square Government Fund Institutional Shares, 1.69% (c)		45,107,429
	224,834,856	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (c)		224,834,856
		TOTAL SHORT TERM INVESTMENTS (Cost $740,641,456)	$	740,641,456
		TOTAL INVESTMENTS (Cost $1,458,485,408) - 118.9% (e)	$	1,420,240,052
		Liabilities in Excess of Other Assets - (18.9)%		(225,495,774	)
		TOTAL NET ASSETS - 100.0%	$	1,194,744,278

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, 2022.

^(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 $870,007,210.

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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 Russell 2000® Index	1.8300 % representing 1 month SOFR rate + spread	J.P. Morgan		12/6/2022		133,981	$	255,936,587	$	(3,400,003	)
Total return of Russell 2000® Index	1.8800 % representing 1 month SOFR rate + spread	Barclays		12/7/2022		235,000		485,279,465		(42,289,950	)
Total return of Russell 2000® Index	1.9300 % representing 1 month SOFR rate + spread	Credit Suisse International		12/8/2022		255,222		455,570,482		25,338,999
Total return of Russell 2000® Index	1.7700 % representing 1 month SOFR rate + spread	Citibank N.A.		12/13/2022		297,588		534,381,385		26,572,607
Total return of Russell 2000® Index	1.2800 % representing 1 month SOFR rate + spread	Bank of America Merrill Lynch		12/13/2022		211,012		373,288,996		24,476,707
Total return of Russell 2000® Index	2.0800 % representing 1 month SOFR rate + spread	UBS Securities LLC		12/14/2022		213,187		401,816,069		(144,360	)
Total return of Russell 2000® Index	1.8700 % representing 1 month SOFR rate + spread	BNP Paribas		12/15/2022		194,703		344,547,208		22,220,465
							$	2,850,820,192	$	52,774,465

Direxion Daily Small Cap Bear 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	SHORT TERM INVESTMENTS - 102.9%
	Money Market Funds - 102.9%
	279,053,296	Dreyfus Government Cash Management Institutional Shares, 1.83% (a)	$	279,053,296
	175,517,036	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (a)		175,517,036
		TOTAL SHORT TERM INVESTMENTS (Cost $454,570,332) (b)	$	454,570,332
		TOTAL INVESTMENTS (Cost $454,570,332) - 102.9%	$	454,570,332
		Liabilities in Excess of Other Assets - (2.9)%		(13,017,844	)
		TOTAL NET ASSETS - 100.0%	$	441,552,488

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, 2022.

^(b)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $315,668,369.

Short Total Return Swap Contracts (Unaudited)

July 31, 2022

Terms of Payments to be Received at Termination	Terms of Payments to be Paid at Termination	Counterparty	Termination Date	Contracts		Notional Amount		Unrealized Depreciation
1.5300% representing 1 month SOFR rate + spread	Total return of Russell 2000® Index	J.P. Morgan	12/6/2022		40,704	$	69,522,025	$	(7,187,154	)
1.7000% representing 1 month SOFR rate + spread	Total return of Russell 2000® Index	Credit Suisse International	12/8/2022		191,964		346,533,537		(15,281,088	)
1.4800% representing 1 month SOFR rate + spread	Total return of Russell 2000® Index	Citibank N.A.	12/13/2022		78,160		139,158,439		(8,154,953	)
1.0800% representing 1 month SOFR rate + spread	Total return of Russell 2000® Index	Bank of America Merrill Lynch	12/13/2022		88,124		166,089,085		(87,990	)
1.8000% representing 1 month SOFR rate + spread	Total return of Russell 2000® Index	UBS Securities LLC	12/14/2022		130,531		219,761,096		(26,173,314	)
1.6700% representing 1 month SOFR rate + spread	Total return of Russell 2000® Index	BNP Paribas	12/15/2022		173,173		306,447,633		(19,804,215	)
						$	1,247,511,815	$	(76,688,714	)

Direxion Daily FTSE China Bull 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	INVESTMENT COMPANIES - 54.5%
	7,770,728	iShares China Large-Cap ETF (a)	$	236,074,717
		TOTAL INVESTMENT COMPANIES (Cost $250,537,713)	$	236,074,717
	SHORT TERM INVESTMENTS - 66.3%
	Money Market Funds - 66.3%
	190,852,940	Dreyfus Government Cash Management Institutional Shares, 1.83% (b)	$	190,852,940
	36,200,000	Goldman Sachs Financial Square Government Fund Institutional Shares, 1.69% (b)		36,200,000
	60,408,419	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (b)		60,408,419
		TOTAL SHORT TERM INVESTMENTS (Cost $287,461,359)	$	287,461,359
		TOTAL INVESTMENTS (Cost $537,999,072) - 120.8% (c)	$	523,536,076
		Liabilities in Excess of Other Assets - (20.8)%		(90,266,044	)
		TOTAL NET ASSETS - 100.0%	$	433,270,032

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, 2022.

^(c)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $410,117,279.

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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 China Large-Cap ETF	2.2800 % representing 1 month SOFR rate + spread	Barclays		12/7/2022		8,281,190	$	263,214,966	$	(11,974,946	)
Total return of iShares China Large-Cap ETF	2.0300 % representing 1 month SOFR rate + spread	Bank of America Merrill Lynch		12/13/2022		11,802,461		388,594,041		(29,694,465	)
Total return of iShares China Large-Cap ETF	2.1700 % representing 1 month SOFR rate + spread	UBS Securities LLC		12/14/2022		5,726,792		183,598,333		(9,565,840	)
Total return of iShares China Large-Cap ETF	1.9200 % representing 1 month SOFR rate + spread	BNP Paribas		12/15/2022		9,204,682		311,489,906		(32,230,474	)
							$	1,146,897,246	$	(83,465,725	)

Direxion Daily FTSE China Bear 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	SHORT TERM INVESTMENTS - 95.8%
	Money Market Funds - 95.8%
	59,640,014	Dreyfus Government Cash Management Institutional Shares, 1.83% (a)	$	59,640,014
	49,220,004	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (a)		49,220,004
		TOTAL SHORT TERM INVESTMENTS (Cost $108,860,018) (b)	$	108,860,018
		TOTAL INVESTMENTS (Cost $108,860,018) - 95.8%	$	108,860,018
		Other Assets in Excess of Liabilities - 4.2%		4,725,540
		TOTAL NET ASSETS - 100.0%	$	113,585,558

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, 2022.

^(b)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $69,728,561.

Short Total Return Swap Contracts (Unaudited)

July 31, 2022

Terms of Payments to be Received at Termination	Terms of Payments to be Paid at Termination	Counterparty	Termination Date	Contracts		Notional Amount		Unrealized Appreciation
1.8300% representing 1 month SOFR rate + spread	Total return of iShares China Large-Cap ETF	Bank of America Merrill Lynch	12/13/2022		6,118,911	$	196,845,367	$	11,153,141
1.7500% representing 1 month SOFR rate + spread	Total return of iShares China Large-Cap ETF	UBS Securities LLC	12/14/2022		5,097,471		154,861,169		105,893
						$	351,706,536	$	11,259,034

Direxion Daily FTSE Europe Bull 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	INVESTMENT COMPANIES - 41.5%
	154,972	Vanguard FTSE Europe ETF (a)(b)	$	8,594,747
		TOTAL INVESTMENT COMPANIES (Cost $10,287,444)	$	8,594,747
	SHORT TERM INVESTMENTS - 59.0%
	Money Market Funds - 59.0%
	5,772,643	Dreyfus Government Cash Management Institutional Shares, 1.83% (c)(d)	$	5,772,643
	6,440,021	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (c)		6,440,021
		TOTAL SHORT TERM INVESTMENTS (Cost $12,212,664)	$	12,212,664
		TOTAL INVESTMENTS (Cost $22,500,108) - 100.5% (e)	$	20,807,411
		Liabilities in Excess of Other Assets - (0.5)%		(108,730	)
		TOTAL NET ASSETS - 100.0%	$	20,698,681

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, 2022.

^(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 $16,946,526.

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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	1.9800 % representing 1 month SOFR rate + spread	J.P. Morgan	12/6/2022		312,385	$	16,831,251	$	508,647
Total return of Vanguard FTSE Europe ETF	2.2300 % representing 1 month SOFR rate + spread	Credit Suisse International	12/7/2022		183,065		12,113,410		(1,712,883	)
Total return of Vanguard FTSE Europe ETF	2.0300 % representing 1 month SOFR rate + spread	Citibank N.A.	12/13/2022		189,649		11,563,818		(878,050	)
Total return of Vanguard FTSE Europe ETF	2.2700 % representing 1 month SOFR rate + spread	UBS Securities LLC	12/14/2022		114,108		6,029,740		288,298
Total return of Vanguard FTSE Europe ETF	1.8200 % representing 1 month SOFR rate + spread	BNP Paribas	12/15/2022		165,482		8,646,435		520,689
						$	55,184,654	$	(1,273,299	)

Direxion Daily MSCI Emerging Markets Bull 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	INVESTMENT COMPANIES - 5.3%
	102,628	iShares MSCI Emerging Markets ETF (a)	$	4,101,015
		TOTAL INVESTMENT COMPANIES (Cost $4,145,613)	$	4,101,015
	SHORT TERM INVESTMENTS - 106.5%
	Money Market Funds - 106.5%
	49,600,600	Dreyfus Government Cash Management Institutional Shares, 1.83% (b)	$	49,600,600
	33,264,725	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (b)		33,264,725
	129	JPMorgan 100% U.S. Treasury Securities Money Market Fund Institutional Shares, 1.71% (b)		129
		TOTAL SHORT TERM INVESTMENTS (Cost $82,865,454)	$	82,865,454
		TOTAL INVESTMENTS (Cost $87,011,067) - 111.8% (c)	$	86,966,469
		Liabilities in Excess of Other Assets - (11.8)%		(9,134,340	)
		TOTAL NET ASSETS - 100.0%	$	77,832,129

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, 2022.

^(c) All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $51,648,338.

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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	1.8800% representing 1 month SOFR rate + spread	J.P. Morgan	12/6/2022		2,913,759	$	115,695,679	$	1,235,850
Total return of iShares MSCI Emerging Markets ETF	1.8400% representing 1 month SOFR rate + spread	Citibank N.A.	12/13/2022		500,000		24,614,922		(4,570,867	)
Total return of iShares MSCI Emerging Markets ETF	2.2200% representing 1 month SOFR rate + spread	UBS Securities LLC	12/14/2022		2,326,712		97,626,286		(4,174,567	)
						$	237,936,887	$	(7,509,584	)

Direxion Daily MSCI Emerging Markets Bear 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	SHORT TERM INVESTMENTS - 107.6%
	Money Market Funds - 107.6%
	21,982,130	Dreyfus Government Cash Management Institutional Shares, 1.83% (a)	$	21,982,130
	17,820,313	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (a)		17,820,313
		TOTAL SHORT TERM INVESTMENTS (Cost $39,802,443) (b)	$	39,802,443
		TOTAL INVESTMENTS (Cost $39,802,443) - 107.6%	$	39,802,443
		Liabilities in Excess of Other Assets - (7.6)%		(2,805,988	)
		TOTAL NET ASSETS - 100.0%	$	36,996,455

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, 2022.

^(b) All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $23,843,021.

Short Total Return Swap Contracts (Unaudited)

July 31, 2022

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)
1.5300% representing 1 month SOFR rate + spread	Total return of iShares MSCI Emerging Markets ETF	Citibank N.A.	12/13/2022		500,000	$	25,040,000	$	4,591,893
1.8000% representing 1 month SOFR rate + spread	Total return of iShares MSCI Emerging Markets ETF	UBS Securities LLC	12/14/2022		933,525		40,120,604		2,751,000
1.2300% representing 1 month SOFR rate + spread	Total return of iShares MSCI Emerging Markets ETF	J.P. Morgan	8/15/2023		1,343,951		51,968,491		(1,710,324	)
						$	117,129,095	$	5,632,569

Direxion Daily MSCI Mexico Bull 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	INVESTMENT COMPANIES - 27.5%
	57,328	iShares MSCI Mexico ETF (a)	$	2,682,950
		TOTAL INVESTMENT COMPANIES (Cost $2,880,498)	$	2,682,950
	SHORT TERM INVESTMENTS - 72.5%
	Money Market Funds - 72.5%
	6,875,551	Dreyfus Government Cash Management Institutional Shares, 1.83% (b)	$	6,875,551
	200,371	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (b)		200,371
		TOTAL SHORT TERM INVESTMENTS (Cost $7,075,922)	$	7,075,922
		TOTAL INVESTMENTS (Cost $9,956,420) - 100.0% (c)	$	9,758,872
		Other Assets in Excess of Liabilities - 0.0% (†)		3,823
		TOTAL NET ASSETS - 100.0%	$	9,762,695

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) Shareholders may obtain the financial statements of these investment companies at www.sec.gov.

^(b) Represents annualized seven-day yield at July 31, 2022.

^(c) All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $5,446,728.

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

Terms of Payments to be Received at Termination	Terms of Payments to be Paid/(Received) at Termination	Counterparty	Termination Date	Contracts		Notional Amount		Unrealized Appreciation
Total return of iShares MSCI Mexico ETF	(0.4700)% representing 1 month SOFR rate + spread	UBS Securities LLC	12/14/2022		439,631	$	20,243,931	$	341,679
Total return of iShares MSCI Mexico ETF	1.5200 % representing 1 month SOFR rate + spread	BNP Paribas	12/15/2022		128,838		5,868,571		155,089
						$	26,112,502	$	496,768

Direxion Daily MSCI South Korea Bull 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	INVESTMENT COMPANIES - 39.9%
	148,589	iShares MSCI South Korea ETF (a)	$	8,997,064
		TOTAL INVESTMENT COMPANIES (Cost $11,404,788)	$	8,997,064
	SHORT TERM INVESTMENTS - 78.8%
	Money Market Funds - 78.8%
	5,059,116	Dreyfus Government Cash Management Institutional Shares, 1.83% (b)	$	5,059,116
	12,720,063	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (b)		12,720,063
		TOTAL SHORT TERM INVESTMENTS (Cost $17,779,179)	$	17,779,179
		TOTAL INVESTMENTS (Cost $29,183,967) - 118.7% (c)	$	26,776,243
		Liabilities in Excess of Other Assets - (18.7)%		(4,222,333	)
		TOTAL NET ASSETS - 100.0%	$	22,553,910

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, 2022.

^(c) All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $21,373,264.

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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	1.9800% representing 1 month SOFR rate + spread	J.P. Morgan	12/6/2022		308,306	$	18,448,604	$	182,781
Total return of iShares MSCI South Korea ETF	1.9800% representing 1 month SOFR rate + spread	Citibank N.A.	12/13/2022		326,288		24,431,317		(4,399,436	)
Total return of iShares MSCI South Korea ETF	2.0300% representing 1 month SOFR rate + spread	Bank of America Merrill Lynch	12/13/2022		334,254		19,551,994		649,079
						$	62,431,915	$	(3,567,576	)

Direxion Daily Aerospace & Defense Bull 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 65.0%
	Computer and Electronic Product Manufacturing - 21.7%
	30,518	Aerojet Rocketdyne Holdings, Inc. (a)	$	1,333,332
	22,865	L3 Harris Technologies, Inc.		5,486,914
	23,520	Mercury Computer Systems, Inc. (a)		1,387,915
	11,827	Moog, Inc. Class A		1,012,864
	11,832	Northrop Grumman Corp.		5,666,345
	281,662	Raytheon Technologies Corp.		26,253,715
				41,141,085
	Credit Intermediation and Related Activities - 0.1%
	18,559	Smith & Wesson Brands, Inc.		270,033
	Electrical Equipment, Appliance, and Component Manufacturing - 1.7%
	28,959	Axon Enterprise, Inc. (a)		3,190,992
	Fabricated Metal Product Manufacturing - 4.0%
	37,189	BWX Technologies, Inc.		2,107,872
	15,678	Curtiss-Wright Corp.		2,248,852
	11,772	RBC Bearings, Inc. (a)		2,778,192
	7,182	Sturm, Ruger & Co, Inc.		474,946
				7,609,862
	Merchant Wholesalers, Durable Goods - 3.2%
	34,278	Hexcel Corp.		2,074,162
	16,333	Huntington Ingalls Industries, Inc.		3,541,648
	11,411	Kaman Corp.		351,230
				5,967,040
	Miscellaneous Manufacturing - 2.9%
	82,386	Textron, Inc.		5,407,817
	Primary Metal Manufacturing - 3.0%
	153,277	Howmet Aerospace, Inc.		5,691,175
	Professional, Scientific, and Technical Services - 0.7%
	30,059	Maxar Technologies, Inc.		826,021
	10,998	Parsons Corp. (a)		475,444
				1,301,465
	Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 0.4%
	60,527	Rocket Lab USA, Inc. (a)		282,661
	72,766	Virgin Galactic Holdings, Inc. (a)(b)		541,379
				824,040
	Textile Mills - 0.1%
	2,073	National Presto Industries, Inc.		147,598
	Transportation Equipment Manufacturing - 27.2%
	13,490	AAR Corp. (a)		600,710
	9,448	AeroVironment, Inc. (a)		818,575
	51,147	Archer Aviation, Inc. (a)(b)		206,634
	52,748	Astra Space, Inc. (a)(b)		75,430
	55,115	Boeing Co. (a)		8,780,371
	24,162	General Dynamics Corp.		5,476,800
	27,694	HEICO Corp.		3,535,970
	15,716	HEICO Corp. Class A		2,478,570
	50,977	Kratos Defense & Security Solutions, Inc. (a)		733,559
	45,676	Lockheed Martin Corp.		18,901,185
	42,826	Spirit AeroSystems Holdings, Inc.		1,405,549
	9,065	TransDigm Group, Inc. (a)		5,641,512
	26,355	Triumph Group, Inc. (a)		409,557
	24,731	Woodward, Inc.		2,589,336
				51,653,758
		TOTAL COMMON STOCKS (Cost $123,869,260)	$	123,204,865
	SHORT TERM INVESTMENTS - 38.1%
	Money Market Funds - 38.1%
	37,938,130	Dreyfus Government Cash Management Institutional Shares, 1.83% (c)(d)	$	37,938,130
	1	Goldman Sachs Financial Square Government Fund Institutional Shares, 1.69% (c)		1
	34,282,884	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (c)		34,282,884
		TOTAL SHORT TERM INVESTMENTS (Cost $72,221,015)	$	72,221,015
		TOTAL INVESTMENTS (Cost $196,090,275) - 103.1% (e)	$	195,425,880
		Liabilities in Excess of Other Assets - (3.1)%		(5,738,713	)
		TOTAL NET ASSETS - 100.0%	$	189,687,167

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, 2022.

^(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 $137,529,989.

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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	1.9800 % representing 1 month SOFR rate + spread	J.P. Morgan		12/6/2022		9,072	$	226,965,598	$	10,155,178
Total return of Dow Jones U.S. Select Aerospace & Defense Index	2.1800 % representing 1 month SOFR rate + spread	Credit Suisse International		12/7/2022		3,829		97,409,033		2,729,679
Total return of Dow Jones U.S. Select Aerospace & Defense Index	1.9800 % representing 1 month SOFR rate + spread	Citibank N.A.		12/13/2022		3,000		76,515,933		2,035,342
Total return of Dow Jones U.S. Select Aerospace & Defense Index	2.3200 % representing 1 month SOFR rate + spread	BNP Paribas		12/15/2022		1,137		28,458,382		1,251,882
							$	429,348,946	$	16,172,081

Direxion Daily Consumer Discretionary Bull 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 58.4%
	Accommodation - 1.9%
	1,274	Caesars Entertainment Inc. (a)	$	58,209
	1,654	Hilton Worldwide Holdings, Inc.		211,828
	2,043	Las Vegas Sands Corp. (a)		77,001
	1,633	Marriott International, Inc. Class A		259,353
	2,100	MGM Resorts International		68,733
	971	Penn National Gaming, Inc. (a)		33,548
				708,672
	Administrative and Support Services - 1.3%
	241	Booking Holdings, Inc. (a)		466,501
	Amusement, Gambling, and Recreation Industries - 0.1%
	627	Wynn Resorts Ltd. (a)		39,802
	Apparel Manufacturing - 0.4%
	401	PVH Corp.		24,830
	275	Ralph Lauren Corp.		27,123
	1,918	V F Corp.		85,696
				137,649
	Building Material and Garden Equipment and Supplies Dealers - 6.9%
	3,927	Lowe’s Companies, Inc.		752,138
	5,973	The Home Depot, Inc.		1,797,515
				2,549,653
	Clothing and Clothing Accessories Stores - 1.8%
	1,417	Bath & Body Works, Inc.		50,360
	2,087	Ross Stores, Inc.		169,590
	6,976	TJX Companies, Inc.		426,652
				646,602
	Construction of Buildings - 1.1%
	1,903	D.R. Horton, Inc.		148,491
	1,536	Lennar Corp. Class A		130,560
	18	NVR, Inc. (a)		79,076
	1,412	PulteGroup, Inc.		61,591
				419,718
	Electrical Equipment, Appliance, and Component Manufacturing - 0.2%
	334	Whirlpool Corp.		57,739
	Electronics and Appliance Stores - 0.2%
	1,203	Best Buy Co., Inc.		92,619
	Food Services and Drinking Places - 5.7%
	166	Chipotle Mexican Grill, Inc. (a)		259,660
	741	Darden Restaurants, Inc.		92,247
	214	Domino’s Pizza, Inc.		83,912
	3,357	McDonald’s Corp.		884,133
	6,813	Starbucks Corp.		577,606
	1,694	Yum! Brands, Inc.		207,583
				2,105,141
	Funds, Trusts, and Other Financial Vehicles - 0.2%
	906	Garmin Ltd. ADR (Switzerland)		88,444
	General Merchandise Stores - 2.7%
	1,359	Dollar General Corp.		337,616
	1,338	Dollar Tree, Inc. (a)		221,252
	2,747	Target Corp.		448,805
				1,007,673
	Health and Personal Care Stores - 0.3%
	311	Ulta Salon, Cosmetics & Fragrance, Inc. (a)		120,951
	Leather and Allied Product Manufacturing - 2.5%
	7,537	NIKE, Inc. Class B		866,152
	1,496	Tapestry, Inc.		50,311
				916,463
	Management of Companies and Enterprises - 0.2%
	5,798	Carnival Corp. ADR (a)(b)		52,530
	2,489	Norwegian Cruise Line Holdings Ltd. ADR (a)(b)		30,241
				82,771
	Merchant Wholesalers, Durable Goods - 0.6%
	1,546	LKQ Corp.		84,783
	305	Mohawk Industries, Inc. (a)		39,186
	238	Pool Corp.		85,133
				209,102
	Miscellaneous Manufacturing - 0.2%
	779	Hasbro, Inc.		61,323
	Miscellaneous Store Retailers - 0.6%
	755	Etsy, Inc. (a)		78,309
	665	Tractor Supply Co.		127,334
				205,643
	Motor Vehicle and Parts Dealers - 1.9%
	363	Advance Auto Parts, Inc.		70,284
	118	AutoZone, Inc. (a)		252,212
	954	CarMax, Inc. (a)		94,961
	390	O’Reilly Automotive, Inc. (a)		274,400
				691,857
	Nonstore Retailers - 14.7%
	39,018	Amazon.com, Inc. (a)		5,265,479
	3,326	eBay, Inc.		161,743
				5,427,222
	Plastics and Rubber Products Manufacturing - 0.1%
	2,186	Newell Rubbermaid, Inc.		44,179
	Support Activities for Transportation - 0.3%
	901	Expedia, Inc. (a)		95,551
	Transportation Equipment Manufacturing - 14.1%
	1,609	Aptiv PLC ADR (Ireland) (a)		168,768
	1,423	BorgWarner, Inc.		54,729
	23,458	Ford Motor Co.		344,598
	8,662	General Motors Co. (a)		314,084
	4,851	Tesla Motors, Inc. (a)		4,324,424
				5,206,603
	Water Transportation - 0.1%
	1,333	Royal Caribbean Cruises Ltd. ADR (Liberia) (a)		51,600
	Wholesale Electronic Markets and Agents and Brokers - 0.3%
	841	Genuine Parts Co.		128,564
		TOTAL COMMON STOCKS (Cost $20,779,252)	$	21,562,042
	SHORT TERM INVESTMENTS - 33.5%
	Money Market Funds - 33.5%
	12,113,851	Dreyfus Government Cash Management Institutional Shares, 1.83% (c)(d)	$	12,113,851
	246,865	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (c)		246,865
		TOTAL SHORT TERM INVESTMENTS (Cost $12,360,716)	$	12,360,716
		TOTAL INVESTMENTS (Cost $33,139,968) - 91.9% (e)	$	33,922,758
		Other Assets in Excess of Liabilities - 8.1%		3,005,008
		TOTAL NET ASSETS - 100.0%	$	36,927,766

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, 2022.

^(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 $20,173,046.

ADR - American Depository Receipt

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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 Consumer Discretionary Select Sector Index	1.9800 % representing 1 month SOFR rate + spread	J.P. Morgan	12/6/2022		19,236	$	30,413,885	$	1,217,889
Total return of Consumer Discretionary Select Sector Index	2.1300 % representing 1 month SOFR rate + spread	Bank of America Merrill Lynch	12/13/2022		2,500		3,821,650		283,212
Total return of Consumer Discretionary Select Sector Index	2.1300 % representing 1 month SOFR rate + spread	UBS Securities LLC	12/13/2022		32,513		46,976,596		6,424,724
						$	81,212,131	$	7,925,825

Direxion Daily Dow Jones Internet Bull 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 64.4%
	Administrative and Support Services - 1.9%
	28,040	Cloudflare, Inc. (a)	$	1,410,973
	28,445	Teladoc Health, Inc. (a)		1,048,198
				2,459,171
	Computer and Electronic Product Manufacturing - 5.0%
	17,840	Arista Networks, Inc. (a)		2,080,679
	92,607	Cisco Systems, Inc.		4,201,580
				6,282,259
	Data Processing, Hosting and Related Services - 3.0%
	20,038	Airbnb, Inc. (a)		2,223,817
	22,133	Match Group, Inc. (a)		1,622,570
				3,846,387
	Miscellaneous Store Retailers - 1.3%
	15,601	Etsy, Inc. (a)		1,618,136
	Motion Picture and Sound Recording Industries - 2.8%
	15,514	Netflix, Inc. (a)		3,489,099
	Nonstore Retailers - 8.3%
	62,641	Amazon.com, Inc. (a)		8,453,403
	41,026	eBay, Inc.		1,995,094
				10,448,497
	Other Information Services - 9.3%
	37,368	Alphabet, Inc. Class A (a)		4,346,646
	34,193	Alphabet, Inc. Class C (a)		3,988,272
	66,562	Pinterest, Inc. (a)		1,296,628
	51,509	Twitter, Inc. (a)		2,143,289
				11,774,835
	Professional, Scientific, and Technical Services - 11.0%
	23,193	Ciena Corp. (a)		1,196,759
	18,724	GoDaddy, Inc. (a)		1,388,946
	41,921	Juniper Networks, Inc.		1,175,046
	28,708	Meta Platforms, Inc. (a)		4,567,443
	51,372	Nutanix, Inc. (a)		777,258
	15,083	Okta, Inc. (a)		1,484,921
	104,852	Snap, Inc. (a)		1,035,938
	15,789	Snowflake, Inc. (a)		2,366,929
				13,993,240
	Publishing Industries (except Internet) - 15.0%
	15,607	Akamai Technologies, Inc. (a)		1,501,705
	31,782	Box, Inc. (a)		903,880
	14,215	Citrix Systems, Inc.		1,441,543
	13,710	Coupa Software, Inc. (a)		896,908
	18,510	Datadog, Inc. (a)		1,888,205
	18,302	DocuSign, Inc. (a)		1,170,962
	45,332	Dropbox, Inc. (a)		1,030,850
	43,098	Fastly, Inc. (a)		490,024
	22,054	Salesforce.com, Inc. (a)		4,058,377
	10,220	Veeva Systems, Inc. (a)		2,284,988
	13,196	Workday, Inc. (a)		2,046,700
	34,600	ZoomInfo Technologies, Inc. (a)		1,310,994
				19,025,136
	Real Estate - 1.2%
	102,632	Opendoor Technologies, Inc. (a)		503,923
	5,177	Zillow Group, Inc. Class A (a)		181,195
	23,515	Zillow Group, Inc. Class C (a)		820,203
				1,505,321
	Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 0.5%
	72,274	CommScope Holding Co., Inc. (a)		652,634
	Support Activities for Transportation - 1.1%
	13,222	Expedia, Inc. (a)		1,402,193
	Telecommunications - 4.0%
	37,840	PayPal Holdings, Inc. (a)		3,274,295
	16,825	Zoom Video Communications, Inc. (a)		1,747,445
				5,021,740
		TOTAL COMMON STOCKS (Cost $83,748,195)	$	81,518,648
	SHORT TERM INVESTMENTS - 57.1%
	Money Market Funds - 57.1%
	19,400,709	Dreyfus Government Cash Management Institutional Shares, 1.83% (b)	$	19,400,709
	52,847,039	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (b)		52,847,039
		TOTAL SHORT TERM INVESTMENTS (Cost $72,247,748)	$	72,247,748
		TOTAL INVESTMENTS (Cost $155,995,943) - 121.5% (c)	$	153,766,396
		Liabilities in Excess of Other Assets - (21.5)%		(27,157,697	)
		TOTAL NET ASSETS - 100.0%	$	126,608,699

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, 2022.

^(c)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $108,559,838.

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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	1.9800 % representing 1 month SOFR rate + spread	J.P. Morgan	12/6/2022		78,633	$	64,195,195	$	(13,712,060	)
Total return of Dow Jones Internet Composite Index	1.9300 % representing 1 month SOFR rate + spread	Citibank N.A.	12/13/2022		41,099		42,488,968		(16,167,800	)
Total return of Dow Jones Internet Composite Index	1.6300 % representing 1 month SOFR rate + spread	Bank of America Merrill Lynch	12/13/2022		248,357		158,605,766		1,579,616
Total return of Dow Jones Internet Composite Index	2.1400 % representing 1 month SOFR rate + spread	UBS Securities LLC	12/14/2022		94,271		58,530,578		2,201,185
						$	323,820,507	$	(26,099,059	)

Direxion Daily Dow Jones Internet Bear 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	SHORT TERM INVESTMENTS - 109.2%
	Money Market Funds - 109.2%
	40,623,060	Dreyfus Government Cash Management Institutional Shares, 1.83% (a)	$	40,623,060
	21,160,974	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (a)		21,160,974
		TOTAL SHORT TERM INVESTMENTS (Cost $61,784,034) (b)	$	61,784,034
		TOTAL INVESTMENTS (Cost $61,784,034) - 109.2%	$	61,784,034
		Liabilities in Excess of Other Assets - (9.2)%		(5,227,517	)
		TOTAL NET ASSETS - 100.0%	$	56,556,517

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, 2022.

^(b)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $37,162,751.

Short Total Return Swap Contracts (Unaudited)

July 31, 2022

Terms of Payments to be Received at Termination	Terms of Payments to be Paid at Termination	Counterparty	Termination Date		Contracts		Notional Amount		Unrealized Depreciation
1.4300 % representing 1 month SOFR rate + spread	Total return of Dow Jones Internet Composite Index	Bank of America Merrill Lynch		12/13/2022		109,565	$	65,862,620	$	(4,793,095	)
1.9300 % representing 1 month SOFR rate + spread	Total return of Dow Jones Internet Composite Index	UBS Securities LLC		12/14/2022		153,403		95,411,847		(3,454,452	)
							$	161,274,467	$	(8,247,547	)

Direxion Daily Financial Bull 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 60.4%
	Administrative and Support Services - 1.1%
	12,312	FactSet Research System, Inc.	$	5,290,220
	52,150	Moody’s Corp.		16,179,538
				21,469,758
	Credit Intermediation and Related Activities - 24.1%
	198,176	American Express Co. (a)		30,523,068
	2,303,484	Bank of America Corp.		77,880,794
	241,449	Bank of New York Mellon Corp.		10,493,373
	630,910	Citigroup, Inc.		32,744,229
	159,355	Citizens Financial Group, Inc.		6,050,709
	42,483	Comerica, Inc.		3,303,903
	91,283	Discover Financial Services		9,219,583
	222,902	Fifth Third Bancorp		7,605,416
	58,309	First Republic Bank		9,487,457
	467,573	Huntington Bancshares, Inc.		6,214,045
	954,216	JPMorgan Chase & Co.		110,078,358
	302,950	KeyCorp		5,543,985
	58,291	M&T Bank Corp.		10,343,738
	67,700	Northern Trust Corp.		6,755,106
	134,368	PNC Financial Services Group, Inc.		22,297,026
	303,609	Regions Financial Corp.		6,430,439
	20,445	Signature Bank		3,793,979
	119,272	State Street Corp.		8,473,083
	19,120	SVB Financial Group (a)		7,715,876
	162,928	Synchrony Financial (a)		5,454,829
	432,562	Truist Financial Corp.		21,831,404
	439,258	U.S. Bancorp		20,732,978
	1,231,445	Wells Fargo & Co.		54,023,492
	49,175	Zions Bancorp		2,682,496
				479,679,366
	Funds, Trusts, and Other Financial Vehicles - 0.4%
	73,846	T. Rowe Price Group, Inc.		9,117,766
	Insurance Carriers and Related Activities - 20.4%
	192,540	Aflac, Inc.		11,032,542
	89,339	Allstate Corp.		10,449,983
	257,375	American International Group, Inc.		13,324,304
	69,001	AON PLC ADR (United Kingdom)		20,082,051
	68,249	Arthur J. Gallagher & Co.		12,215,888
	17,572	Assurant, Inc.		3,088,806
	587,782	Berkshire Hathaway, Inc. Class B (a)		176,687,269
	76,117	Brown & Brown, Inc.		4,955,217
	137,659	Chubb Limited (Switzerland) ADR		25,967,994
	48,451	Cincinnati Financial Corp.		4,716,220
	12,813	Everest Re Group Ltd. ADR		3,348,678
	29,471	Globe Life, Inc.		2,968,614
	106,845	Hartford Financial Services Group, Inc.		6,888,297
	52,512	Lincoln National Corp.		2,695,966
	63,167	Loews Corp.		3,679,478
	163,067	Marsh & McLennan Companies, Inc.		26,736,465
	224,572	MetLife, Inc.		14,204,179
	76,348	Principal Financial Group, Inc.		5,110,735
	190,020	Progressive Corp.		21,863,701
	121,834	Prudential Financial, Inc.		12,182,182
	77,961	Travelers Companies, Inc.		12,372,411
	68,065	W.R. Berkley Corp.		4,256,104
	36,221	Willis Towers Watson PLC ADR (Ireland)		7,495,574
				406,322,658
	Management of Companies and Enterprises - 0.7%
	127,698	Capital One Financial Corp. (a)		14,025,071
	Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 13.7%
	35,707	Ameriprise Financial, Inc.		9,638,034
	46,268	BlackRock, Inc.		30,961,620
	34,500	CBOE Holdings, Inc.		4,256,610
	489,984	Charles Schwab Corp.		33,833,395
	116,771	CME Group, Inc.		23,293,479
	90,955	Franklin Resources, Inc.		2,496,715
	111,582	Goldman Sachs Group, Inc.		37,200,323
	181,375	IntercontinentalExchange, Inc.		18,498,436
	109,396	Invesco Ltd. ADR		1,940,685
	12,262	MarketAxess Holdings, Inc.		3,320,304
	454,659	Morgan Stanley		38,327,754
	26,356	MSCI, Inc. Class A		12,686,197
	37,451	NASDAQ OMX Group, Inc.		6,774,886
	63,158	Raymond James Financial, Inc.		6,219,168
	112,769	S&P Global, Inc.		42,506,019
				271,953,625
		TOTAL COMMON STOCKS (Cost $1,177,706,015)	$	1,202,568,244
	SHORT TERM INVESTMENTS - 37.0%
	Money Market Funds - 37.0%
	399,564,145	Dreyfus Government Cash Management Institutional Shares, 1.83% (b)(c)	$	399,564,145
	175,589,758	Dreyfus Treasury Securities Cash Management Institutional Shares, 1.45% (b)		175,589,758
	89,475	Goldman Sachs Financial Square Government Fund Institutional Shares, 1.69% (b)		89,475
	160,487,608	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (b)		160,487,608
		TOTAL SHORT TERM INVESTMENTS (Cost $735,730,986)	$	735,730,986
		TOTAL INVESTMENTS (Cost $1,913,437,001) - 97.4% (d)	$	1,938,299,230
		Other Assets in Excess of Liabilities - 2.6%		51,067,178
		TOTAL NET ASSETS - 100.0%	$	1,989,366,408

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, 2022.

^(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 $1,657,767,773.

ADR - American Depository Receipt

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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 Financials Select Sector Index	2.0800 % representing 1 month SOFR rate + spread	Goldman Sachs	12/9/2022		2,838,782	$	1,178,515,306	$	(51,734	)
Total return of Financials Select Sector Index	2.1800 % representing 1 month SOFR rate + spread	Citibank N.A.	12/13/2022		1,347,000		551,462,431		7,717,678
Total return of Financials Select Sector Index	2.2300 % representing 1 month SOFR rate + spread	Bank of America Merrill Lynch	12/13/2022		1,601,000		664,651,131		(28,001	)
Total return of Financials Select Sector Index	2.1900 % representing 1 month SOFR rate + spread	UBS Securities LLC	12/14/2022		1,028,000		426,767,402		(13,762	)
Total return of Financials Select Sector Index	2.4200 % representing 1 month SOFR rate + spread	BNP Paribas	12/15/2022		1,370,000		568,756,536		(28,436	)
Total return of Financials Select Sector Index	2.0800 % representing 1 month SOFR rate + spread	Barclays	7/31/2023		1,659,550		688,963,438		(34,446	)
Total return of Financials Select Sector Index	2.0300 % representing 1 month SOFR rate + spread	J.P. Morgan	8/29/2023		1,637,700		670,470,187		9,388,214
						$	4,749,586,431	$	16,949,513

Direxion Daily Financial Bear 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	SHORT TERM INVESTMENTS - 111.8%
	Money Market Funds - 111.8%
	94,826,466	Dreyfus Government Cash Management Institutional Shares, 1.83% (a)	$	94,826,466
	43,806,975	Dreyfus Treasury Securities Cash Management Institutional Shares, 1.45% (a)		43,806,975
	47,940,150	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (a)		47,940,150
		TOTAL SHORT TERM INVESTMENTS (Cost $186,573,591) (b)	$	186,573,591
		TOTAL INVESTMENTS (Cost $186,573,591) - 111.8%	$	186,573,591
		Liabilities in Excess of Other Assets - (11.8)%		(19,724,739	)
		TOTAL NET ASSETS - 100.0%	$	166,848,852

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, 2022.

^(b)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $114,490,084.

Short Total Return Swap Contracts (Unaudited)

July 31, 2022

Terms of Payments to be Received at Termination	Terms of Payments to be Paid at Termination	Counterparty	Termination Date	Contracts		Notional Amount		Unrealized Depreciation
1.7800% representing 1 month SOFR rate + spread	Total return of Financials Select Sector Index	Goldman Sachs	12/9/2022		346,351	$	143,780,691	$	—
2.0300% representing 1 month SOFR rate + spread	Total return of Financials Select Sector Index	Bank of America Merrill Lynch	12/13/2022		252,000		104,612,759		—
1.9200% representing 1 month SOFR rate + spread	Total return of Financials Select Sector Index	UBS Securities LLC	12/14/2022		365,000		151,522,450		—
1.7800% representing 1 month SOFR rate + spread	Total return of Financials Select Sector Index	J.P. Morgan	8/29/2023		242,370		99,221,431		(1,393,628	)
						$	499,137,331	$	(1,393,628	)

Direxion Daily Healthcare Bull 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 59.8%
	Ambulatory Health Care Services - 0.9%
	1,469	DaVita, Inc. (a)	$	123,631
	2,249	Laboratory Corp. of America Holdings		589,665
	1,424	Molina Healthcare, Inc. (a)		466,673
	2,848	Quest Diagnostics, Inc.		388,952
	29,414	Viatris, Inc.		285,022
				1,853,943
	Chemical Manufacturing - 20.7%
	42,875	AbbVie, Inc.		6,152,991
	12,961	Amgen, Inc.		3,207,459
	3,553	Biogen, Inc. (a)		764,108
	952	Bio-Techne Corp.		366,787
	51,657	Bristol-Myers Squibb Co.		3,811,254
	4,348	Catalent, Inc. (a)		491,759
	19,134	Eli Lilly and Company		6,308,288
	30,433	Gilead Sciences, Inc.		1,818,372
	4,568	Incyte Corp. (a)		354,842
	61,356	Merck & Co., Inc.		5,481,545
	6,154	Organon & Co.		195,205
	136,136	Pfizer, Inc.		6,876,229
	2,621	Regeneron Pharmaceuticals, Inc. (a)		1,524,610
	6,205	Vertex Pharmaceuticals, Inc. (a)		1,739,944
	1,797	West Pharmaceutical Services, Inc.		617,377
	11,419	Zoetis, Inc.		2,084,538
				41,795,308
	Computer and Electronic Product Manufacturing - 7.4%
	1,106	Abiomed, Inc. (a)		324,069
	7,282	Agilent Technologies, Inc.		976,516
	525	Bio-Rad Laboratories, Inc. (a)		295,712
	15,700	Danaher Corp.		4,576,079
	6,051	Hologic, Inc. (a)		431,920
	2,038	IDEXX Laboratories, Inc. (a)		813,529
	3,812	Illumina, Inc. (a)		825,984
	3,061	PerkinElmer, Inc.		468,853
	9,498	Thermo Fisher Scientific, Inc.		5,683,698
	1,461	Waters Corp. (a)		531,848
				14,928,208
	Health and Personal Care Stores - 1.5%
	31,816	CVS Health Corp.		3,044,155
	Hospitals - 0.7%
	5,520	HCA Healthcare, Inc.		1,172,558
	1,629	Universal Health Services, Inc. Class B		183,214
				1,355,772
	Insurance Carriers and Related Activities - 9.9%
	14,191	Centene Corp. (a)		1,319,337
	7,698	Cigna Corp.		2,119,721
	5,849	Elevance Health, Inc.		2,790,558
	3,069	Humana, Inc.		1,479,258
	22,763	UnitedHealth Group, Inc.		12,345,286
				20,054,160
	Machinery Manufacturing - 0.4%
	550	Mettler-Toledo International, Inc. (a)		742,351
	Management of Companies and Enterprises - 2.3%
	42,483	Abbott Laboratories		4,623,850
	Merchant Wholesalers, Durable Goods - 0.1%
	3,349	Henry Schein, Inc. (a)		264,002
	Merchant Wholesalers, Nondurable Goods - 1.0%
	3,659	AmerisourceBergen Corp.		533,958
	6,610	Cardinal Health, Inc.		393,691
	3,527	McKesson Corp.		1,204,753
				2,132,402
	Miscellaneous Manufacturing - 13.5%
	1,778	Align Technology, Inc. (a)		499,565
	12,217	Baxter International, Inc.		716,649
	6,916	Becton, Dickinson & Co.		1,689,648
	34,685	Boston Scientific Corp. (a)		1,423,819
	5,227	Dentsply Sirona, Inc.		189,008
	9,523	DexCom, Inc. (a)		781,648
	15,085	Edwards Lifesciences Corp. (a)		1,516,646
	8,709	Intuitive Surgical, Inc. (a)		2,004,551
	63,845	Johnson & Johnson		11,142,229
	32,549	Medtronic PLC ADR (Ireland)		3,011,433
	3,549	ResMed, Inc.		853,606
	2,429	Steris PLC ADR (Ireland)		548,104
	8,166	Stryker Corp.		1,753,649
	1,138	Teleflex, Inc.		273,643
	1,196	The Cooper Companies, Inc.		391,092
	5,085	Zimmer Biomet Holdings, Inc.		561,333
				27,356,623
	Professional, Scientific, and Technical Services - 1.4%
	1,233	Charles River Laboratories International, Inc. (a)		308,916
	4,592	IQVIA Holdings, Inc. (a)		1,103,320
	8,396	Moderna, Inc. (a)		1,377,699
				2,789,935
		TOTAL COMMON STOCKS (Cost $122,431,330)	$	120,940,709
	SHORT TERM INVESTMENTS - 40.3%
	Money Market Funds - 40.3%
	51,939,636	Dreyfus Government Cash Management Institutional Shares, 1.83% (b)	$	51,939,636
	5,421	Goldman Sachs Financial Square Government Fund Institutional Shares, 1.69% (b)		5,421
	29,663,012	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (b)		29,663,012
		TOTAL SHORT TERM INVESTMENTS (Cost $81,608,069)	$	81,608,069
		TOTAL INVESTMENTS (Cost $204,039,399) - 100.1% (c)	$	202,548,778
		Liabilities in Excess of Other Assets - (0.1)%		(204,594	)
		TOTAL NET ASSETS - 100.0%	$	202,344,184

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, 2022.

^(c)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $155,424,551.

ADR - American Depository Receipt

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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	1.9800 % representing 1 month SOFR rate + spread	J.P. Morgan	12/6/2022		20,000	$	26,153,400	$	606,500
Total return of Health Care Select Sector Index	2.1300 % representing 1 month SOFR rate + spread	Barclays	12/7/2022		81,665		106,473,793		2,739,268
Total return of Health Care Select Sector Index	2.1300 % representing 1 month SOFR rate + spread	Bank of America Merrill Lynch	12/13/2022		130,000		166,015,200		7,904,866
Total return of Health Care Select Sector Index	2.1700 % representing 1 month SOFR rate + spread	UBS Securities LLC	12/14/2022		131,916		170,446,193		5,912,665
						$	469,088,586	$	17,163,299

Direxion Daily Homebuilders & Supplies Bull 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 49.6%
	Building Material and Garden Equipment and Supplies Dealers - 4.2%
	19,107	Lowe’s Companies, Inc.	$	3,659,564
	12,357	The Home Depot, Inc.		3,718,715
				7,378,279
	Construction of Buildings - 28.5%
	14,478	Beazer Homes USA, Inc. (a)		213,551
	14,298	Century Communities, Inc.		731,629
	159,644	D.R. Horton, Inc.		12,457,021
	22,766	Green Brick Partners , Inc. (a)		610,129
	42,652	KB Home		1,392,161
	7,480	Lennar Corp.		507,742
	127,892	Lennar Corp. Class A		10,870,820
	10,257	LGI Homes, Inc. (a)		1,156,990
	28,237	M.D.C Holdings, Inc.		1,023,591
	13,995	M/I Homes, Inc. (a)		643,910
	18,042	Meritage Homes Corp. (a)		1,593,109
	1,510	NVR, Inc. (a)		6,633,581
	117,708	PulteGroup, Inc.		5,134,423
	59,451	Taylor Morrison Home Corp. (a)		1,706,244
	54,557	Toll Brothers, Inc.		2,683,113
	51,162	TRI Pointe Group, Inc. (a)		947,520
				48,305,534
	Fabricated Metal Product Manufacturing - 0.5%
	8,666	PGT Innovations, Inc. (a)		189,785
	6,256	Simpson Manufacturing Company, Inc.		646,120
				835,905
	Furniture and Home Furnishings Stores - 0.8%
	3,147	Ethan Allen Interiors, Inc.		72,349
	15,284	Floor & Decor Holdings, Inc. (a)		1,231,432
				1,303,781
	Furniture and Related Product Manufacturing - 0.1%
	2,407	American Woodmark Corp. (a)		120,880
	Machinery Manufacturing - 0.1%
	8,521	Hayward Holdings, Inc. (a)		99,440
	Management of Companies and Enterprises - 0.2%
	16,115	AZEK Company, Inc. (a)		333,258
	Merchant Wholesalers, Durable Goods - 4.6%
	7,938	Beacon Roofing Supply, Inc. (a)		476,439
	25,345	Builders FirstSource, Inc. (a)		1,723,460
	19,096	Fortune Brands Home & Security, Inc.		1,330,609
	19,179	Leggett & Platt, Inc.		760,255
	4,779	Lennox International, Inc.		1,144,714
	4,296	Lumber Liquidators Holdings, Inc. (a)		43,132
	7,407	Mohawk Industries, Inc. (a)		951,651
	4,827	Watsco, Inc.		1,322,357
				7,752,617
	Merchant Wholesalers, Nondurable Goods - 2.0%
	13,718	The Sherwin Williams Co.		3,318,933
	Miscellaneous Store Retailers - 0.6%
	4,112	Cavco Industries, Inc. (a)		1,060,033
	Nonmetallic Mineral Product Manufacturing - 1.3%
	5,798	Eagle Materials, Inc.		733,157
	14,219	Owens Corning		1,318,670
	4,795	Quanex Building Products Corp.		118,005
				2,169,832
	Specialty Trade Contractors - 2.7%
	11,261	Installed Building Products, Inc.		1,142,091
	16,196	TopBuild Corp. (a)		3,429,017
				4,571,108
	Wood Product Manufacturing - 4.0%
	12,567	JELD-WEN Holding, Inc. (a)		223,441
	12,104	Louisiana-Pacific Corp.		770,178
	33,968	Masco Corp.		1,881,148
	3,249	Masonite International Corp. ADR (a)		295,756
	25,667	Skyline Champion Corp. (a)		1,624,721
	16,447	Trex Company, Inc. (a)		1,061,160
	9,199	UFP Industries, Inc.		848,240
				6,704,644
		TOTAL COMMON STOCKS (Cost $89,359,171)	$	83,954,244
	SHORT TERM INVESTMENTS - 57.6%
	Money Market Funds - 57.6%
	53,123,666	Dreyfus Government Cash Management Institutional Shares, 1.83% (b)	$	53,123,666
	14,768,880	Goldman Sachs Financial Square Government Fund Institutional Shares, 1.69% (b)		14,768,880
	29,465,829	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (b)		29,465,829
		TOTAL SHORT TERM INVESTMENTS (Cost $97,358,375)	$	97,358,375
		TOTAL INVESTMENTS (Cost $186,717,546) - 107.2% (c)	$	181,312,619
		Liabilities in Excess of Other Assets - (7.2)%		(12,185,443	)
		TOTAL NET ASSETS - 100.0%	$	169,127,176

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, 2022.

^(c)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $125,881,661.

ADR - American Depository Receipt

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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	2.0300 % representing 1 month SOFR rate + spread	Barclays	12/7/2022		13,301	$	136,388,800	$	8,709,847
Total return of Dow Jones U.S. Select Home Construction Index	1.9800 % representing 1 month SOFR rate + spread	Citibank N.A.	12/13/2022		8,949		102,114,397		(4,487,720	)
Total return of Dow Jones U.S. Select Home Construction Index	2.0800 % representing 1 month SOFR rate + spread	Bank of America Merrill Lynch	12/13/2022		14,200		139,334,454		15,567,280
Total return of Dow Jones U.S. Select Home Construction Index	2.3200 % representing 1 month SOFR rate + spread	BNP Paribas	12/15/2022		2,341		23,981,981		1,547,266
						$	401,819,632	$	21,336,673

Direxion Daily Industrials Bull 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 68.1%
	Administrative and Support Services - 2.9%
	525	Allegion PLC ADR (Ireland)	$	55,492
	732	Equifax, Inc.		152,922
	661	Robert Half International, Inc.		52,312
	1,355	Rollins, Inc.		52,262
	2,285	Waste Management, Inc.		376,020
				689,008
	Air Transportation - 1.7%
	754	Alaska Air Group, Inc. (a)		33,425
	3,886	American Airlines Group, Inc. (a)		53,277
	3,835	Delta Air Lines, Inc. (a)		121,953
	3,548	Southwest Airlines Co. (a)		135,250
	1,955	United Continental Holdings, Inc. (a)		71,846
				415,751
	Building Material and Garden Equipment and Supplies Dealers - 0.3%
	319	Snap-on, Inc.		71,472
	Computer and Electronic Product Manufacturing - 11.8%
	1,382	AMETEK, Inc.		170,677
	2,145	Fortive Corp.		138,245
	4,073	Honeywell International, Inc.		783,890
	1,154	L3 Harris Technologies, Inc.		276,925
	874	Northrop Grumman Corp.		418,559
	2,530	Otis Worldwide Corp.		197,770
	8,897	Raytheon Technologies Corp.		829,289
				2,815,355
	Couriers and Messengers - 5.0%
	1,427	FedEx Corp.		332,619
	4,394	United Parcel Service, Inc. Class B		856,347
				1,188,966
	Electrical Equipment, Appliance, and Component Manufacturing - 2.7%
	778	A.O. Smith Corp.		49,224
	3,554	Emerson Electric Co.		320,109
	382	Generac Holdings, Inc. (a)		102,490
	695	Rockwell Automation, Inc.		177,420
				649,243
	Fabricated Metal Product Manufacturing - 0.6%
	989	Pentair PLC ADR (Ireland)		48,352
	903	Stanley Black & Decker, Inc.		87,889
				136,241
	Food Services and Drinking Places - 0.9%
	520	Cintas Corp.		221,255
	Machinery Manufacturing - 12.1%
	5,075	Carrier Global Corp.		205,690
	3,191	Caterpillar, Inc.		632,616
	844	Cummins, Inc.		186,786
	1,670	Deere & Co.		573,111
	6,585	General Electric Co.		486,697
	455	IDEX Corp.		94,981
	2,428	Ingersoll Rand, Inc.		120,914
	323	Nordson Corp.		74,610
	768	Parker Hannifin Corp.		222,021
	1,400	Trane Technologies PLC ADR (Ireland)		205,786
	1,077	Xylem, Inc.		99,116
				2,902,328
	Merchant Wholesalers, Durable Goods - 3.4%
	1,279	Copart, Inc. (a)		163,840
	3,444	Fastenal Co.		176,884
	783	Fortune Brands Home & Security, Inc.		54,559
	240	Huntington Ingalls Industries, Inc.		52,042
	4,163	Johnson Controls International PLC ADR (Ireland)		224,427
	257	W.W. Grainger, Inc.		139,687
				811,439
	Merchant Wholesalers, Nondurable Goods - 1.5%
	1,695	Illinois Tool Works, Inc.		352,153
	Miscellaneous Manufacturing - 2.9%
	3,405	3M Co.		487,732
	863	Dover Corp.		115,366
	1,286	Textron, Inc.		84,413
				687,511
	National Security and International Affairs - 0.4%
	818	Leidos Holdings, Inc.		87,526
	Primary Metal Manufacturing - 0.3%
	2,250	Howmet Aerospace, Inc.		83,542
	Professional, Scientific, and Technical Services - 2.9%
	2,387	Eaton Corp PLC ADR (Ireland)		354,207
	770	Jacobs Engineering Group, Inc.		105,721
	2,152	Nielsen Holdings PLC ADR		51,541
	945	Verisk Analytics, Inc. Class A		179,786
				691,255
	Rail Transportation - 5.3%
	13,008	CSX Corp.		420,549
	3,757	Union Pacific Corp.		853,966
				1,274,515
	Rental and Leasing Services - 0.6%
	428	United Rentals, Inc. (a)		138,103
	Specialty Trade Contractors - 0.5%
	859	Quanta Services, Inc.		119,169
	Support Activities for Transportation - 2.7%
	761	C.H. Robinson Worldwide, Inc.		84,243
	1,004	Expeditors International of Washington, Inc.		106,675
	501	J.B. Hunt Transport Services, Inc.		91,818
	1,426	Norfolk Southern Corp.		358,168
				640,904
	Transportation Equipment Manufacturing - 8.0%
	3,327	Boeing Co. (a)		530,024
	1,378	General Dynamics Corp.		312,351
	1,417	Lockheed Martin Corp.		586,369
	2,081	Paccar, Inc.		190,453
	310	TransDigm Group, Inc. (a)		192,926
	1,092	Wabtec Corp.		102,069
				1,914,192
	Truck Transportation - 0.7%
	550	Old Dominion Freight Line, Inc.		166,931
	Waste Management and Remediation Services - 0.7%
	1,247	Republic Services, Inc.		172,909

Wood Product Manufacturing - 0.3%
1,412	Masco Corp.		78,197
	TOTAL COMMON STOCKS (Cost $18,547,769)	$	16,307,965
SHORT TERM INVESTMENTS - 41.6%
Money Market Funds - 41.6%
3,405,679	Dreyfus Government Cash Management Institutional Shares, 1.83% (b)	$	3,405,679
1,290,751	Goldman Sachs Financial Square Government Fund Institutional Shares, 1.69% (b)		1,290,751
5,270,129	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (b)		5,270,129
	TOTAL SHORT TERM INVESTMENTS (Cost $9,966,559)	$	9,966,559
	TOTAL INVESTMENTS (Cost $28,514,328) - 109.7% (c)	$	26,274,524
	Liabilities in Excess of Other Assets - (9.7)%		(2,318,577	)
	TOTAL NET ASSETS - 100.0%	$	23,955,947

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, 2022.

^(c)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $19,693,364.

ADR - American Depository Receipt

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

								Unrealized
Terms of Payments to be Received at Termination	Terms of Payments to be Paid at Termination	Counterparty	Termination Date	Contracts		Notional Amount		Appreciation (Depreciation)
Total return of Industrials Select Sector Index	1.9800% representing 1 month SOFR rate + spread	J.P. Morgan	9/12/2022		20,713	$	18,671,820	$	1,271,042
Total return of Industrials Select Sector Index	2.2300% representing 1 month SOFR rate + spread	Credit Suisse International	12/7/2022		14,073		14,696,434		(1,117,933	)
Total return of Industrials Select Sector Index	1.8800% representing 1 month SOFR rate + spread	Barclays	12/7/2022		19,849		19,563,840		(436,090	)
Total return of Industrials Select Sector Index	2.1300% representing 1 month SOFR rate + spread	Citibank N.A.	12/13/2022		3,047		3,078,009		(135,691	)
						$	56,010,103	$	(418,672	)

Direxion Daily Real Estate Bull 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 56.6%
	Accommodation - 0.7%
	27,017	Host Hotels & Resorts, Inc.	$	481,173
	Administrative and Support Services - 0.8%
	10,984	Iron Mountain, Inc.		532,614
	Professional, Scientific, and Technical Services - 1.4%
	5,078	Extra Space Storage, Inc.		962,383
	Real Estate - 48.1%
	5,613	Alexandria Real Estate Equities, Inc.		930,523
	17,564	American Tower Corp.		4,756,858
	5,287	AvalonBay Communities, Inc.		1,131,101
	5,389	Boston Properties, Inc.		491,261
	4,030	Camden Property Trust		568,633
	12,353	CBRE Group, Inc. Class A (a)		1,057,664
	16,366	Crown Castle International Corp.		2,956,681
	10,758	Digital Realty Trust, Inc.		1,424,897
	14,533	Duke Realty Corp.		909,184
	12,935	Equity Residential		1,013,975
	2,473	Essex Property Trust, Inc.		708,589
	2,703	Federal Realty Investment Trust		285,464
	20,393	Healthpeak Properties, Inc.		563,459
	23,359	Kimco Realty Corp.		516,467
	4,363	Mid-America Apartment Communities, Inc.		810,340
	27,986	Prologis, Inc.		3,709,824
	5,769	Public Storage		1,883,059
	22,743	Realty Income Corp.		1,682,755
	5,862	Regency Centers Corp.		377,689
	12,411	Simon Property Group, Inc.		1,348,331
	11,311	UDR, Inc.		547,452
	15,107	Ventas, Inc.		812,454
	36,399	VICI Properties, Inc.		1,244,482
	6,017	Vornado Realty Trust		182,857
	17,161	Welltower, Inc.		1,481,681
	28,143	Weyerhaeuser Co.		1,022,154
				32,417,834
	Telecommunications - 5.6%
	3,443	Equinix, Inc.		2,422,977
	4,073	SBA Communications Corp.		1,367,672
				3,790,649
		TOTAL COMMON STOCKS (Cost $40,062,208)	$	38,184,653
	SHORT TERM INVESTMENTS - 39.6%
	Money Market Funds - 39.6%
	7,754,166	Dreyfus Government Cash Management Institutional Shares, 1.83% (b)	$	7,754,166
	18,963,526	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (b)		18,963,526
		TOTAL SHORT TERM INVESTMENTS (Cost $26,717,692)	$	26,717,692
		TOTAL INVESTMENTS (Cost $66,779,900) - 96.2% (c)	$	64,902,345
		Other Assets in Excess of Liabilities - 3.8%		2,525,143
		TOTAL NET ASSETS - 100.0%	$	67,427,488

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, 2022.

^(c)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $57,160,800.

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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	1.5800 % representing 1 month SOFR rate + spread	Bank of America Merrill Lynch	12/13/2022		280,742	$	59,248,256	$	1,730,772
Total return of Real Estate Select Sector Index	1.6300 % representing 1 month SOFR rate + spread	UBS Securities LLC	12/14/2022		298,170		60,951,913		3,806,443
Total return of Real Estate Select Sector Index	1.7800 % representing 1 month SOFR rate + spread	J.P. Morgan	3/28/2023		176,845		39,008,461		(312,792	)
						$	159,208,630	$	5,224,423

Direxion Daily Real Estate Bear 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	SHORT TERM INVESTMENTS - 126.5%
	Money Market Funds - 126.5%
	57,371,048	Dreyfus Government Cash Management Institutional Shares, 1.83% (a)	$	57,371,048
	61,903,826	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (a)		61,903,826
		TOTAL SHORT TERM INVESTMENTS (Cost $119,274,874) (b)	$	119,274,874
		TOTAL INVESTMENTS (Cost $119,274,874) - 126.5%	$	119,274,874
		Liabilities in Excess of Other Assets - (26.5)%		(25,004,860	)
		TOTAL NET ASSETS - 100.0%	$	94,270,014

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, 2022.

^(b) All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $82,447,753.

Short Total Return Swap Contracts (Unaudited)

July 31, 2022

Terms of Payments to be Received at Termination	Terms of Payments to be Paid at Termination	Counterparty	Termination Date	Contracts		Notional Amount		Unrealized Depreciation
1.2800 % representing 1 month SOFR rate + spread	Total return of Real Estate Select Sector Index	J.P. Morgan	12/6/2022		521,068	$	103,254,222	$	(10,190,355	)
1.3800 % representing 1 month SOFR rate + spread	Total return of Real Estate Select Sector Index	Bank of America Merrill Lynch	12/13/2022		321,895		64,224,299		(5,620,379	)
1.4300 % representing 1 month SOFR rate + spread	Total return of Real Estate Select Sector Index	UBS Securities LLC	12/14/2022		459,491		92,826,175		(6,891,780	)
						$	260,304,696	$	(22,702,514	)

		Direxion Daily Pharmaceutical & Medical Bull 3X Shares
		Schedule of Investments (Unaudited)
		July 31, 2022
Shares			Fair Value
	COMMON STOCKS - 51.2%
	Administrative and Support Services - 1.7%
	5,402	Royalty Pharma PLC ADR (United Kingdom)	$	234,933
	Ambulatory Health Care Services - 4.0%
	8,979	Axsome Therapeutics, Inc. (a)		346,499
	19,523	Viatris, Inc.		189,178
				535,677
	Chemical Manufacturing - 39.0%
	4,859	Aclaris Therapeutics, Inc. (a)		74,877
	7,135	Amphastar Pharmaceuticals, Inc. (a)		266,778
	1,472	ANI Pharmaceuticals, Inc. (a)		50,416
	4,311	Athira Pharma, Inc. (a)		15,002
	2,912	Bristol-Myers Squibb Co.		214,847
	9,787	Cara Therapeutics, Inc. (a)		85,538
	7,955	Cassava Sciences, Inc. (a)(b)		129,905
	2,050	Catalent, Inc. (a)		231,855
	4,774	Collegium Pharmaceutical, Inc. (a)		82,065
	10,213	Corcept Therapeutics, Inc. (a)		292,705
	9,819	Elanco Animal Health, Inc. (a)		198,933
	736	Eli Lilly and Company		242,652
	5,459	Evolus, Inc. (a)		67,309
	4,794	Harmony Biosciences Holdings, Inc. (a)		243,200
	14,321	Innoviva, Inc. (a)		205,363
	4,123	Intra-Cellular Therapies, Inc. (a)		223,137
	1,482	Jazz Pharmaceuticals PLC ADR (Ireland) (a)		231,281
	2,508	Merck & Co., Inc.		224,065
	65,861	Nektar Therapeutics (a)		260,810
	3,515	NGM Biopharmaceuticals, Inc. (a)		50,897
	6,166	Organon & Co.		195,585
	3,921	Pacira Pharmaceuticals, Inc. (a)		221,772
	5,654	Perrigo Co. PLC ADR (Ireland)		236,733
	4,375	Pfizer, Inc.		220,981
	3,302	Prestige Consumer Healthcare, Inc. (a)		199,144
	3,917	Relmada Therapeutics, Inc. (a)		100,275
	11,801	Revance Therapeutics, Inc. (a)		183,152
	1,283	SIGA Technologies, Inc. (b)		22,055
	5,711	Supernus Pharmaceuticals, Inc. (a)		181,324
	7,918	Theravance Biopharma, Inc. ADR (a)		69,599
	1,354	Zoetis, Inc.		247,173
				5,269,428
	Merchant Wholesalers, Nondurable Goods - 0.9%
	10,994	Amneal Pharmaceuticals, Inc. (a)		38,919
	7,509	Atea Pharmaceuticals, Inc. (a)		61,574
	1,069	Phibro Animal Health Corp.		20,920
				121,413
	Miscellaneous Manufacturing - 1.6%
	1,267	Johnson & Johnson		221,117
	Professional, Scientific, and Technical Services - 3.5%
	5,449	Arvinas, Inc. (a)		289,396
	6,039	Reata Pharmaceuticals, Inc. (a)(b)		185,277
				474,673
	Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 0.5%
	12,120	Nuvation Bio, Inc. (a)		33,451
	6,694	Roivant Sciences Ltd. ADR (a)		26,642
				60,093
		TOTAL COMMON STOCKS (Cost $7,447,663)	$	6,917,334
	SHORT TERM INVESTMENTS - 50.8%
	Money Market Funds - 50.8%
	3,643,271	Dreyfus Government Cash Management Institutional Shares, 1.83% (c)(d)	$	3,643,271
	870,595	Goldman Sachs Financial Square Government Fund Institutional Shares, 1.69% (c)		870,595
	2,339,568	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (c)		2,339,568
		TOTAL SHORT TERM INVESTMENTS (Cost $6,853,434)	$	6,853,434
		TOTAL INVESTMENTS (Cost $14,301,097) - 102.0% (e)	$	13,770,768
		Liabilities in Excess of Other Assets - (2.0)%		(269,359	)
		TOTAL NET ASSETS - 100.0%	$	13,501,409

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, 2022.

^(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 $8,659,644.

ADR - American Depository Receipt

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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	2.1300 % representing 1 month SOFR rate + spread	Barclays	12/7/2022		2,199	$	10,005,660	$	821,628
Total return of S&P Pharmaceuticals Select Industry Index	1.8800 % representing 1 month SOFR rate + spread	Citibank N.A.	12/13/2022		2,466		12,329,126		(169,034	)
Total return of S&P Pharmaceuticals Select Industry Index	2.1700 % representing 1 month SOFR rate + spread	UBS Securities LLC	12/14/2022		2,148		10,597,684		(17,138	)
						$	32,932,470	$	635,456

Direxion Daily Regional Banks Bull 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 60.9%
	Credit Intermediation and Related Activities - 55.0%
	3,668	1st Source Corp.	$	176,871
	5,119	Allegiance Bancshares, Inc.		225,441
	7,701	Amerant Bancorp, Inc.		210,391
	35,090	Ameris Bancorp		1,659,406
	103,451	Associated Banc-Corp		2,079,365
	18,412	Atlantic Union Bankshares Corp.		636,871
	7,868	BancFirst Corp.		844,945
	14,839	Bank of Hawaii Corp.		1,188,752
	3,244	Bank of Marin Bancorp		106,144
	52,203	Bank OZK		2,093,340
	52,702	BankUnited, Inc.		2,047,473
	13,481	Banner Corp.		835,687
	23,387	Berkshire Hills Bancorp, Inc.		658,812
	13,058	BOK Financial Corp.		1,149,496
	24,722	Brookline Bancorp, Inc.		341,905
	79,891	Cadence Bank		2,085,155
	2,648	Camden National Corp.		121,014
	19,672	Cathay General Bancorp		820,322
	54,256	Citizens Financial Group, Inc.		2,060,100
	4,941	City Holding Co.		428,829
	63,019	Columbia Banking System, Inc.		1,901,283
	26,381	Comerica, Inc.		2,051,650
	27,515	Commerce Bancshares, Inc.		1,912,017
	15,354	Community Bank System, Inc.		1,033,785
	3,207	Community Trust Bancorp, Inc.		138,959
	12,892	ConnectOne Bancorp, Inc.		340,864
	34,489	Customers Bancorp, Inc. (a)		1,317,135
	63,517	CVB Financial Corp.		1,693,998
	12,836	Dime Community Bancshares, Inc.		437,451
	12,855	Eagle Bancorp, Inc.		630,281
	30,008	East West Bancorp, Inc.		2,153,974
	51,097	Eastern Bankshares, Inc.		1,042,379
	9,238	Enterprise Financial Services Corp.		434,463
	178,049	F.N.B. Corp.		2,129,466
	10,177	FB Financial Corp.		436,084
	55,641	Fifth Third Bancorp		1,898,471
	3,160	Financial Institutions, Inc.		83,772
	11,824	First Bancorp		447,893
	128,162	First BanCorp ADR		1,933,965
	4,987	First Bancshares, Inc.		144,623
	10,836	First Busey Corp.		267,107
	3,099	First Citizens BancShares, Inc. Class A		2,344,951
	39,789	First Commonwealth Financial Corp.		589,673
	24,529	First Financial Bancorp		547,978
	32,281	First Financial Bankshares, Inc.		1,426,175
	4,617	First Financial Corp.		215,706
	45,486	First Hawaiian, Inc.		1,159,438
	89,667	First Horizon National Corp.		2,004,954
	17,635	First Merchants Corp.		732,382
	14,032	First Republic Bank		2,283,147
	7,406	Flushing Finanicial Corp.		159,896
	85,142	Fulton Financial Corp.		1,421,020
	27,162	Glacier Bancorp, Inc.		1,360,545
	2,614	Great Southern Bancorp, Inc.		161,911
	33,867	Hancock Holding Co.		1,653,048
	10,782	Hanmi Financial Corp. Class A		272,461
	13,023	HarborOne Bancorp, Inc.		188,833
	8,614	Heartland Financial USA, Inc.		386,769
	11,166	Heritage Commerce Corp.		131,535
	10,800	Heritage Financial Corp.		281,016
	40,619	Hilltop Holdings, Inc.		1,171,858
	12,061	HomeStreet, Inc.		449,755
	66,072	Hope Bancorp, Inc.		993,723
	9,844	Horizon Bancorp, Inc.		187,725
	159,457	Huntington Bancshares, Inc.		2,119,184
	12,876	Independent Bank Corp. (Massachusetts)		1,079,009
	5,288	Independent Bank Corp. (Michigan)		110,942
	16,713	Independent Bank Group, Inc.		1,181,943
	16,866	International Bancshares Corp.		739,743
	111,719	KeyCorp		2,044,458
	10,989	Lakeland Bancorp, Inc.		174,945
	9,941	Lakeland Financial Corp.		773,410
	36,081	Live Oak Bancshares, Inc.		1,358,089
	11,971	M&T Bank Corp.		2,124,254
	2,901	Mercantile Bank Corp.		102,811
	21,063	Meta Financial Group, Inc.		710,244
	7,256	Metropolitan Bank Holding Corp. (a)		503,421
	5,025	Midland States Bancorp, Inc.		131,655
	10,674	NBT Bancorp, Inc.		432,724
	3,728	Nicolet Bankshares, Inc. (a)		298,165
	60,727	Northwest Bancshares, Inc.		873,254
	17,566	OceanFirst Financial Corp.		361,157
	19,415	OFG Bancorp ADR		533,330
	131,822	Old National Bancorp		2,295,021
	11,618	Old Second Bancorp, Inc.		163,233
	3,299	Origin Bancorp, Inc.		142,088
	30,681	Pacific Premier Bancorp, Inc.		1,032,109
	68,766	PacWest Bancorp		1,927,511
	2,299	Park National Corp.		297,858
	3,844	Peapack-Gladstone Financial Corp.		125,545
	5,806	Peoples Bancorp, Inc.		179,522
	26,916	Pinnacle Financial Partners, Inc.		2,129,056
	12,539	PNC Financial Services Group, Inc.		2,080,722
	25,468	Popular, Inc. ADR		1,978,100
	4,711	Preferred Bank		342,490
	8,186	Premier Financial Corp.		233,137
	29,114	Prosperity Bancshares, Inc.		2,157,056
	98,571	Regions Financial Corp.		2,087,734
	16,263	Renasant Corp.		543,184
	12,361	S&T Bancorp, Inc.		382,449
	9,908	Sandy Spring Bancorp, Inc.		409,200
	21,971	Seacoast Banking Corp. of Florida		786,122
	9,846	Signature Bank		1,827,122
	26,825	Silvergate Capital Corp. (a)		2,502,504
	56,000	Simmons First National Corp.		1,330,000
	6,655	Southside Bancshares, Inc.		265,801

4,482	SVB Financial Group (a)		1,808,711
52,422	Synovus Financial Corp.		2,116,800
36,384	Texas Capital Bancshares, Inc. (a)		2,132,830
32,457	The Bancorp, Inc. (a)		798,442
2,718	Tompkins Financial Corp.		209,694
13,228	Towne Bank		395,120
6,436	TriCo Bancshares		307,641
15,967	Triumph Bancorp, Inc. (a)		1,160,003
43,206	Truist Financial Corp.		2,180,607
19,487	Trustmark Corp.		632,743
14,215	UMB Financial Corp.		1,286,458
48,765	United Bankshares, Inc.		1,889,156
42,760	United Community Banks, Inc.		1,455,123
5,538	Univest Corp. of Pennsylvania		138,118
178,208	Valley National Bancorp		2,083,252
25,194	Washington Federal, Inc.		859,871
3,679	Washington Trust Bancorp, Inc.		201,904
42,906	Webster Financial Corp.		1,992,984
17,088	WesBanco, Inc.		583,043
6,910	Westamerica Bancorp		414,669
26,645	Western Alliance Bancorp		2,035,145
24,244	Wintrust Financial Corp.		2,085,954
37,606	Zions Bancorp		2,051,407
			132,014,415
Management of Companies and Enterprises - 5.6%
22,756	Banc of California, Inc.		398,458
7,843	Byline Bancorp, Inc.		192,075
13,391	Central Pacific Financial Corp.		317,099
17,005	Cullen/Frost Bankers, Inc.		2,217,452
19,451	First Foundation, Inc.		404,970
45,792	First Interstate BancSystem, Inc.		1,867,398
66,712	Home Bancshares, Inc.		1,574,403
9,563	National Bank Holdings Corp.		398,012
14,125	ServisFirst Bancshares, Inc.		1,206,981
26,033	South State Corp.		2,206,817
115,122	Umpqua Holdings Corp.		2,027,298
24,590	Veritex Holdings, Inc.		760,815
			13,571,778
Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 0.3%
5,200	CBTX, Inc.		160,940
7,140	CrossFirst Bankshares, Inc. (a)		97,961
6,166	QCR Holdings, Inc.		365,582
			624,483
	TOTAL COMMON STOCKS (Cost $160,920,987)	$	146,210,676
SHORT TERM INVESTMENTS - 35.9%
Money Market Funds - 35.9%
56,495,282	Dreyfus Government Cash Management Institutional Shares, 1.83% (b)	$	56,495,282
12,266	Goldman Sachs Financial Square Government Fund Institutional Shares, 1.69% (b)		12,266
29,722,316	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (b)		29,722,316
	TOTAL SHORT TERM INVESTMENTS (Cost $86,229,864)	$	86,229,864
	TOTAL INVESTMENTS (Cost $247,150,851) - 96.8% (c)	$	232,440,540
	Other Assets in Excess of Liabilities - 3.2%		7,621,589
	TOTAL NET ASSETS - 100.0%	$	240,062,129

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, 2022.

^(c)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $150,085,025.

ADR - American Depository Receipt

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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	2.0300 % representing 1 month SOFR rate + spread	Barclays	12/7/2022		93,042	$	179,950,520	$	6,750,761
Total return of S&P Regional Banks Select Industry Index	2.1300 % representing 1 month SOFR rate + spread	Bank of America Merrill Lynch	12/13/2022		100,000		193,863,000		6,912,524
Total return of S&P Regional Banks Select Industry Index	2.0700 % representing 1 month SOFR rate + spread	UBS Securities LLC	12/14/2022		93,396		174,782,548		12,317,948
						$	548,596,068	$	25,981,233

Direxion Daily Retail Bull 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 59.1%
	Administrative and Support Services - 0.6%
	9,855	Revolve Group, Inc. (a)	$	279,094
	Broadcasting (except Internet) - 0.5%
	85,774	Qurate Retail, Inc.		234,163
	Clothing and Clothing Accessories Stores - 12.7%
	15,473	Abercrombie & Fitch Co. Class A (a)		275,574
	8,056	Academy Sports & Outdoors Inc.		346,650
	24,752	American Eagle Outfitters, Inc. (b)		298,014
	8,711	Bath & Body Works, Inc.		309,589
	3,610	Boot Barn Holdings, Inc. (a)		224,903
	10,701	Caleres, Inc.		265,599
	53,195	Chicos FAS, Inc. (a)		267,039
	6,663	Childrens Place Retail Stores, Inc. (a)		288,774
	19,617	Designer Brands, Inc.		283,073
	31,156	Gap, Inc.		299,721
	5,371	Genesco, Inc. (a)		301,044
	15,390	Guess?, Inc.		291,025
	11,034	Nordstrom, Inc. (b)		259,409
	3,822	Ross Stores, Inc.		310,576
	10,985	Shoe Carnival, Inc.		239,583
	4,789	Signet Jewelers Ltd. ADR		291,937
	9,649	The Buckle, Inc.		291,400
	5,005	TJX Companies, Inc.		306,106
	13,891	Urban Outfitters, Inc. (a)		284,488
	8,285	Victoria’s Secret & Co. (a)		306,214
	9,123	Zumiez, Inc. (a)		237,198
				5,977,916
	Data Processing, Hosting and Related Services - 0.6%
	5,251	Shutterstock, Inc.		296,681
	Electronics and Appliance Stores - 1.8%
	4,063	Best Buy Co., Inc.		312,810
	9,146	GameStop Corp. Class A (a)(b)		311,056
	119,452	Volta, Inc. (a)(b)		219,792
				843,658
	Food and Beverage Stores - 3.6%
	9,850	Albertsons Companies, Inc. Class A		264,472
	7,634	Grocery Outlet Holding Corp. (a)		326,124
	3,334	Ingles Markets, Inc.		318,264
	5,774	Kroger Co.		268,145
	11,738	Sprouts Farmers Market, Inc. (a)		324,438
	2,204	Weis Markets, Inc.		169,554
				1,670,997
	Food Services and Drinking Places - 1.3%
	1,544	Casey’s General Stores, Inc.		312,891
	5,724	Wayfair, Inc. (a)(b)		308,581
				621,472
	Gasoline Stations - 0.3%
	3,737	TravelCenters of America Inc. (a)		155,908
	General Merchandise Stores - 7.7%
	12,449	Big Lots, Inc.		251,345
	4,807	BJ’s Wholesale Club Holdings, Inc. (a)		325,434
	1,754	Burlington Stores, Inc. (a)		247,542
	639	Costco Wholesale Corp.		345,891
	975	Dillard’s, Inc. Class A (b)		221,666
	1,264	Dollar General Corp.		314,016
	1,890	Dollar Tree, Inc. (a)		312,531
	2,317	Five Below, Inc. (a)		294,421
	6,452	Kohl’s Corp.		188,011
	12,808	Macy’s, Inc.		226,061
	3,516	PriceSmart, Inc.		233,392
	1,973	Target Corp.		322,349
	2,423	Wal-Mart Stores, Inc.		319,957
				3,602,616
	Health and Personal Care Stores - 2.6%
	11,473	Petmed Express, Inc.		250,341
	47,667	Rite Aid Corp. (a)(b)		392,299
	725	Ulta Salon, Cosmetics & Fragrance, Inc. (a)		281,960
	7,105	Walgreens Boots Alliance, Inc.		281,500
				1,206,100
	Lessors of Nonfinancial Intangible Assets (except Copyrighted Works) - 0.1%
	299	Winmark Corp.		66,423
	Machinery Manufacturing - 0.5%
	16,794	Leslie’s, Inc. (a)		254,597
	Merchant Wholesalers, Durable Goods - 0.4%
	1,787	America’s Car-Mart, Inc. (a)		185,080
	Merchant Wholesalers, Nondurable Goods - 0.6%
	9,912	Foot Locker, Inc.		281,203
	Miscellaneous Manufacturing - 1.2%
	11,087	National Vision Holdings, Inc. (a)		323,075
	18,810	Petco Health & Wellness Co., Inc. (a)(b)		261,835
				584,910
	Miscellaneous Store Retailers - 4.2%
	10,276	Chewy, Inc. (a)(b)		398,811
	3,889	Etsy, Inc. (a)		403,367
	5,499	Ollie’s Bargain Outlet Holdings, Inc. (a)		324,166
	21,506	Sally Beauty Holdings, Inc. (a)		274,847
	7,726	The ODP Corp. (a)		280,454
	1,513	Tractor Supply Co.		289,709
				1,971,354
	Motor Vehicle and Parts Dealers - 9.4%
	1,647	Advance Auto Parts, Inc.		318,892
	1,610	Asbury Automotive Group, Inc. (a)		276,340
	2,458	AutoNation, Inc. (a)		291,863
	142	AutoZone, Inc. (a)		303,509
	3,073	CarMax, Inc. (a)		305,887
	26,229	CarParts.com, Inc. (a)		209,307
	13,407	Carvana Co. (a)(b)		390,814
	33,724	EVgo, Inc. (a)(b)		302,504
	1,639	Group 1 Automotive, Inc.		289,972
	7,451	MarineMax, Inc. (a)		304,299
	1,241	Murphy USA, Inc.		352,891
	486	O’Reilly Automotive, Inc. (a)		341,945
	4,092	OneWater Marine. Inc. (a)		148,294
	2,553	Penske Automotive Group, Inc.		292,293
	6,942	Sonic Automotive, Inc.		290,523
				4,419,333
	Nonstore Retailers - 3.4%

2,690	Amazon.com, Inc. (a)		363,015
4,743	DoorDash, Inc. (a)		330,824
6,663	eBay, Inc.		324,022
9,575	Overstock.com, Inc. (a)		277,675
46,543	Stitch Fix, Inc. (a)		277,862
			1,573,398
Printing and Related Support Activities - 0.2%
11,728	Arko Corp.		107,077
Professional, Scientific, and Technical Services - 1.7%
163,923	ContextLogic, Inc. (a)(b)		245,885
7,025	Franchise Group, Inc.		231,333
19,285	Groupon, Inc. (a)(b)		204,421
34,855	Quotient Technology, Inc. (a)		96,548
			778,187
Publishing Industries (except Internet) - 1.0%
93,670	Porch Group, Inc. (a)(b)		180,783
27,220	Poshmark, Inc. (a)		293,704
			474,487
Rental and Leasing Services - 0.6%
11,539	Rent-A-Center, Inc.		271,513
Repair and Maintenance - 1.0%
5,499	Liquidity Services, Inc. (a)		110,695
6,836	Monro Muffler Brake, Inc.		342,825
			453,520
Sporting Goods, Hobby, Musical Instrument, and Book Stores - 2.5%
11,020	Camping World Holdings, Inc.		297,981
3,804	Dick’s Sporting Goods, Inc.		356,016
6,062	Hibbett Sports, Inc.		284,429
21,717	Sportsman’s Warehouse Holdings, Inc. (a)		214,130
			1,152,556
Truck Transportation - 0.6%
1,006	Lithia Motors, Inc. Class A		266,872
	TOTAL COMMON STOCKS (Cost $30,745,955)	$	27,729,115
SHORT TERM INVESTMENTS - 53.7%
Money Market Funds - 53.7%
7,493,993	Dreyfus Government Cash Management Institutional Shares, 1.83% (c)(d)	$	7,493,993
1	Goldman Sachs Financial Square Government Fund Institutional Shares, 1.69% (c)		1
17,660,501	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (c)		17,660,501
	TOTAL SHORT TERM INVESTMENTS (Cost $25,154,495)	$	25,154,495
	TOTAL INVESTMENTS (Cost $55,900,450) - 112.8% (e)	$	52,883,610
	Liabilities in Excess of Other Assets - (12.8)%		(5,998,985	)
	TOTAL NET ASSETS - 100.0%	$	46,884,625

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, 2022.

^(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 $38,752,144.

ADR - American Depository Receipt

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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 Retail Select Industry® Index	1.9300 % representing 1 month SOFR rate + spread	J.P. Morgan		12/6/2022		8,013	$	51,549,925	$	1,893,591
Total return of S&P Retail Select Industry® Index	2.2300 % representing 1 month SOFR rate + spread	Credit Suisse International		12/7/2022		1,513		14,591,038		(4,494,406	)
Total return of S&P Retail Select Industry® Index	1.8800 % representing 1 month SOFR rate + spread	Citibank N.A.		12/13/2022		3,784		30,372,571		(5,118,376	)
Total return of S&P Retail Select Industry® Index	2.1200 % representing 1 month SOFR rate + spread	UBS Securities LLC		12/14/2022		3,611		24,136,613		(50,007	)
							$	120,650,147	$	(7,769,198	)

Direxion Daily S&P 500^® High Beta Bull 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 62.0%
	Accommodation - 2.6%
	9,601	Caesars Entertainment Inc. (a)	$	438,670
	12,170	Las Vegas Sands Corp. (a)		458,687
	10,183	MGM Resorts International		333,290
	13,609	Penn National Gaming, Inc. (a)		470,191
				1,700,838
	Administrative and Support Services - 1.6%
	152	Booking Holdings, Inc. (a)		294,225
	1,319	Gartner, Inc. (a)		350,168
	4,206	Live Nation Entertainment, Inc. (a)		395,322
				1,039,715
	Air Transportation - 1.4%
	23,706	American Airlines Group, Inc. (a)		325,009
	8,908	Delta Air Lines, Inc. (a)		283,275
	9,096	United Continental Holdings, Inc. (a)		334,278
				942,562
	Amusement, Gambling, and Recreation Industries - 0.6%
	6,332	Wynn Resorts Ltd. (a)		401,955
	Apparel Manufacturing - 1.2%
	6,596	PVH Corp.		408,424
	3,703	Ralph Lauren Corp.		365,227
				773,651
	Chemical Manufacturing - 0.7%
	1,998	Albemarle Corp.		488,131
	Clothing, Clothing Accessories, Shoe, and Jewelry Retailers - 1.0%
	6,199	Etsy, Inc. (a)		642,960
	Computer and Electronic Product Manufacturing - 14.8%
	1,496	Abiomed, Inc. (a)		438,343
	5,585	Advanced Micro Devices, Inc. (a)		527,615
	2,209	Analog Devices, Inc.		379,860
	3,596	Arista Networks, Inc. (a)		419,401
	583	Broadcom, Inc.		312,185
	3,141	Enphase Energy, Inc. (a)		892,609
	9,189	Fortinet, Inc. (a)		548,124
	2,389	Keysight Technologies, Inc. (a)		388,451
	6,497	Microchip Technology, Inc.		447,383
	5,858	Micron Technology, Inc.		362,376
	1,212	Monolithic Power Systems, Inc.		563,241
	3,481	NVIDIA Corp.		632,254
	2,409	NXP Semiconductors N.V. ADR (Netherlands)		442,967
	3,723	Qorvo, Inc. (a)		387,453
	3,198	Qualcomm, Inc.		463,902
	3,606	Skyworks Solutions, Inc.		392,621
	1,739	SolarEdge Technologies, Inc. (a)		626,266
	4,474	Teradyne, Inc.		451,382
	5,740	Trimble, Inc. (a)		398,528
	5,836	Western Digital Corp. (a)		286,548
	1,145	Zebra Technologies Corp. Class A (a)		409,555
				9,771,064
	Construction of Buildings - 1.8%
	5,318	D.R. Horton, Inc.		414,963
	4,558	Lennar Corp. Class A		387,430
	8,411	PulteGroup, Inc.		366,888
				1,169,281
	Credit Intermediation and Related Activities - 2.7%
	3,005	Discover Financial Services		303,505
	2,294	First Republic Bank		373,257
	2,046	Signature Bank		379,676
	4,846	State Street Corp.		344,260
	982	SVB Financial Group (a)		396,286
				1,796,984
	Electrical Equipment, Appliance, and Component Manufacturing - 0.8%
	1,837	Generac Holdings, Inc. (a)		492,867
	Food Services and Drinking Places - 0.6%
	255	Chipotle Mexican Grill, Inc. (a)		398,876
	Funds, Trusts, and Other Financial Vehicles - 0.5%
	2,818	T. Rowe Price Group, Inc.		347,938
	General Merchandise Retailers - 0.7%
	3,425	Amazon.com, Inc. (a)		462,204
	Health and Personal Care Retailers - 0.9%
	8,177	Bath & Body Works, Inc.		290,611
	866	Ulta Salon, Cosmetics & Fragrance, Inc. (a)		336,796
				627,407
	Insurance Carriers and Related Activities - 0.5%
	6,558	Lincoln National Corp.		336,688
	Leather and Allied Product Manufacturing - 0.7%
	14,580	Tapestry, Inc.		490,325
	Machinery Manufacturing - 1.5%
	4,382	Applied Materials, Inc.		464,404
	980	Lam Research Corp.		490,500
				954,904
	Management of Companies and Enterprises - 1.0%
	31,249	Carnival Corp. ADR (a)		283,116
	29,862	Norwegian Cruise Line Holdings Ltd. ADR (a)		362,823
				645,939
	Merchant Wholesalers, Durable Goods - 2.4%
	3,130	Copart, Inc. (a)		400,953
	4,725	Fortune Brands Home & Security, Inc.		329,238
	1,461	KLA-Tencor Corp.		560,352
	2,359	Mohawk Industries, Inc. (a)		303,084
				1,593,627
	Mining (except Oil and Gas) - 0.5%
	9,451	Freeport-McMoRan Copper & Gold, Inc.		298,179
	Miscellaneous Manufacturing - 2.9%
	1,542	Align Technology, Inc. (a)		433,256
	4,453	DexCom, Inc. (a)		365,502
	1,481	Estee Lauder Companies, Inc. Class A		404,461
	1,724	Intuitive Surgical, Inc. (a)		396,813
	5,012	Textron, Inc.		328,988
				1,929,020
	Motion Picture and Sound Recording Industries - 0.7%
	2,040	Netflix, Inc. (a)		458,796
	Oil and Gas Extraction - 0.5%
	8,545	APA Corp.		317,618
	Personal and Laundry Services - 0.7%
	5,866	Match Group, Inc. (a)		430,036
	Professional, Scientific, and Technical Services - 2.9%

1,676	EPAM Systems, Inc. (a)		585,343
2,364	Meta Platforms, Inc. (a)		376,112
1,535	Paycom Software, Inc. (a)		507,302
1,042	ServiceNow, Inc. (a)		465,420
			1,934,177
Publishing Industries - 7.4%
975	Adobe Systems, Inc. (a)		399,867
1,543	ANSYS, Inc. (a)		430,482
2,229	Autodesk, Inc. (a)		482,177
2,817	Cadence Design Systems, Inc. (a)		524,187
7,739	Ceridian HCM Holding, Inc. (a)		423,865
1,083	Intuit, Inc.		494,032
1,193	Microsoft Corp.		334,923
3,214	PTC, Inc. (a)		396,543
2,326	Salesforce.com, Inc. (a)		428,031
1,560	Synopsys, Inc. (a)		573,300
1,007	Tyler Technologies, Inc. (a)		401,793
			4,889,200
Rental and Leasing Services - 0.6%
1,160	United Rentals, Inc. (a)		374,297
Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 3.4%
1,320	Ameriprise Financial, Inc.		356,294
4,844	Charles Schwab Corp.		334,478
13,826	Franklin Resources, Inc.		379,524
21,229	Invesco Ltd. ADR		376,602
925	MSCI, Inc. Class A		445,240
3,531	Raymond James Financial, Inc.		347,698
			2,239,836
Support Activities for Transportation - 0.4%
2,497	Expedia, Inc. (a)		264,807
Telecommunications - 0.7%
5,318	PayPal Holdings, Inc. (a)		460,167
Transportation Equipment Manufacturing - 2.0%
4,000	Aptiv PLC ADR (Ireland) (a)		419,560
25,659	Ford Motor Co.		376,931
571	Tesla Motors, Inc. (a)		509,018
			1,305,509
Water Transportation - 0.4%
6,098	Royal Caribbean Cruises Ltd. ADR (Liberia) (a)		236,054
Web Search Portals, Libraries, Archives, and Other Information Services - 0.9%
2,839	Alphabet, Inc. Class C (a)		331,141
6,962	Twitter, Inc. (a)		289,689
			620,830
	TOTAL COMMON STOCKS (Cost $43,812,705)	$	40,836,442
SHORT TERM INVESTMENTS - 36.4%
Money Market Funds - 36.4%
15,245,987	Dreyfus Government Cash Management Institutional Shares, 1.83% (b)	$	15,245,987
3,083,796	Goldman Sachs Financial Square Government Fund Institutional Shares, 1.69% (b)		3,083,796
5,690,655	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (b)		5,690,655
	TOTAL SHORT TERM INVESTMENTS (Cost $24,020,438)	$	24,020,438
	TOTAL INVESTMENTS (Cost $67,833,143) - 98.4% (c)	$	64,856,880
	Other Assets in Excess of Liabilities - 1.6%		1,043,749
	TOTAL NET ASSETS - 100.0%	$	65,900,629

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, 2022.

^(c)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $42,910,196.

ADR - American Depository Receipt

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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	1.9800% representing 1 month SOFR rate + spread	Barclays	12/7/2022		3,942	$	58,854,139	$	4,093,959
Total return of S&P 500® High Beta Index	2.0300% representing 1 month SOFR rate + spread	Citibank N.A.	12/13/2022		60		1,107,354		(149,193	)
Total return of S&P 500® High Beta Index	2.0800% representing 1 month SOFR rate + spread	Bank of America Merrill Lynch	12/13/2022		3,067		49,226,859		(204,820	)
Total return of S&P 500® High Beta Index	2.0700% representing 1 month SOFR rate + spread	UBS Securities LLC	12/14/2022		2,735		38,529,310		5,177,326
						$	147,717,662	$	8,917,272

Direxion Daily S&P 500^® High Beta Bear 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	SHORT TERM INVESTMENTS - 112.6%
	Money Market Funds - 112.6%
	37,751,439	Dreyfus Government Cash Management Institutional Shares, 1.83% (a)	$	37,751,439
	13,651,045	Goldman Sachs Financial Square Government Fund Institutional Shares, 1.69% (a)		13,651,045
	3,872,855	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (a)		3,872,855
		TOTAL SHORT TERM INVESTMENTS (Cost $55,275,339) (b)	$	55,275,339
		TOTAL INVESTMENTS (Cost $55,275,339) - 112.6%	$	55,275,339
		Liabilities in Excess of Other Assets - (12.6)%		(6,191,760	)
		TOTAL NET ASSETS - 100.0%	$	49,083,579

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, 2022.

^(b) All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $32,716,379.

Short Total Return Swap Contracts (Unaudited)

July 31, 2022

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)
1.2800% representing 1 month SOFR rate + spread	Total return of S&P 500® High Beta Index	J.P. Morgan		12/6/2022		550	$	8,682,146	$	(41,356	)
1.7300% representing 1 month SOFR rate + spread	Total return of S&P 500® High Beta Index	Barclays		12/7/2022		4,321		75,047,832		6,040,779
1.7800% representing 1 month SOFR rate + spread	Total return of S&P 500® High Beta Index	Bank of America Merrill Lynch		12/13/2022		538		8,868,400		269,799
1.8700% representing 1 month SOFR rate + spread	Total return of S&P 500® High Beta Index	UBS Securities LLC		12/14/2022		3,794		55,242,572		(5,416,053	)
							$	147,840,950	$	853,169

Direxion Daily S&P Biotech Bull 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 54.3%
	Ambulatory Health Care Services - 1.7%
	230,375	CareDx, Inc. (a)	$	5,480,621
	51,131	Keros Therapeutics, Inc. (a)		1,640,283
	152,785	Natera, Inc. (a)		7,180,895
	308,196	Organogenesis Holdings, Inc. (a)		1,769,045
	69,307	Y-mAbs Therapeutics, Inc. (a)		1,080,496
				17,151,340
	Apparel Manufacturing - 0.3%
	507,116	Sana Biotechnology, Inc. (a)(b)		3,387,535
	Chemical Manufacturing - 35.2%
	118,901	2seventy bio, Inc. (a)		1,710,985
	23,255	Aadi Bioscience, Inc. (a)		287,664
	36,513	AbbVie, Inc.		5,239,981
	306,012	Acadia Pharmaceuticals Inc. (a)		4,495,316
	163,305	Agios Pharmaceuticals, Inc. (a)		3,522,489
	79,061	Albireo Pharma, Inc. (a)		1,643,678
	190,501	Alkermes PLC ADR (Ireland) (a)		4,876,826
	39,650	Alnylam Pharmaceuticals, Inc. (a)		5,631,886
	21,784	Amgen, Inc.		5,390,886
	626,252	Amicus Therapeutics, Inc. (a)		6,237,470
	164,035	Arcturus Therapeutics Holdings, Inc. (a)		2,878,814
	212,383	Arcus Biosciences Inc. (a)		5,647,264
	57,978	Arcutis Biotherapeutics, Inc. (a)		1,406,546
	167,054	Avid Bioservices, Inc. (a)		3,282,611
	158,072	Beam Therapeutics, Inc. (a)(b)		9,955,375
	530,372	BioCryst Pharmaceuticals, Inc. (a)		5,844,699
	26,538	Biogen, Inc. (a)		5,707,262
	69,657	BioMarin Pharmaceutical, Inc. (a)		5,993,985
	108,762	Blueprint Medicines Corp. (a)		5,553,388
	620,457	BridgeBio Pharma, Inc. (a)		5,373,158
	254,837	Catalyst Pharmaceuticals, Inc. (a)		2,609,531
	169,507	Celldex Therapeutics, Inc. (a)		5,207,255
	208,720	ChemoCentryx, Inc. (a)		4,929,966
	53,778	Chinook Therapeutics, Inc. (a)		995,431
	310,361	Coherus BioSciences, Inc. (a)		2,628,758
	61,298	Crinetics Pharmaceuticals, Inc. (a)		1,177,535
	599,284	CTI BioPharma Corp. (a)(b)		3,919,317
	214,403	Deciphera Pharmaceuticals, Inc. (a)		2,720,774
	138,966	Denali Therapeutics, Inc. (a)		4,727,623
	28,578	Eagle Pharmaceuticals, Inc. (a)		1,134,547
	174,927	Emergent Biosolutions, Inc. (a)		6,059,471
	75,631	Enanta Pharmaceuticals, Inc. (a)		4,171,050
	208,441	FibroGen, Inc. (a)		2,622,188
	470,831	Geron Corp. (a)		894,579
	86,103	Gilead Sciences, Inc.		5,144,654
	196,022	Gossamer Bio, Inc. (a)		2,201,327
	119,319	Halozyme Therapeutics, Inc. (a)		5,834,699
	1,034,148	Heron Therapeutics, Inc. (a)(b)		2,874,931
	61,248	Horizon Therapeutics PLC ADR (Ireland) (a)		5,081,747
	1,024,358	Immunogen, Inc. (a)		4,855,457
	74,363	Incyte Corp. (a)		5,776,518
	250,865	Insmed, Inc. (a)		5,549,134
	123,203	Intellia Therapeutics, Inc. (a)		7,978,626
	209,851	Intercept Pharmaceuticals, Inc. (a)(b)		2,677,699
	150,582	Ionis Pharmaceuticals, Inc. (a)		5,655,860
	445,067	Ironwood Pharmaceuticals, Inc. Class A (a)		5,096,017
	134,283	iTeos Therapeutics, Inc. (a)		3,284,562
	51,427	Karuna Therapeutics, Inc. (a)		6,698,367
	629,171	Karyopharm Therapeutics, Inc. (a)		2,673,977
	45,466	Krystal Biotech, Inc. (a)		3,299,922
	38,354	Ligand Pharmaceuticals, Inc. (a)		3,529,719
	42,607	Madrigal Pharmaceuticals, Inc. (a)		2,676,572
	553,921	MannKind Corp. (a)		1,911,027
	110,689	Morphic Holding, Inc. (a)		2,929,938
	144,292	Myovant Sciences, Ltd. (a)(b)		1,887,339
	148,974	Myriad Genetics, Inc. (a)		3,929,934
	55,305	Neurocrine Biosciences, Inc. (a)		5,205,860
	128,756	Novavax, Inc. (a)(b)		7,018,490
	328,510	PMV Pharmaceuticals, Inc. (a)(b)		4,911,225
	111,607	Prothena Corp. PLC ADR (Ireland) (a)		3,466,513
	161,942	PTC Therapeutics, Inc. (a)		7,052,574
	8,989	Regeneron Pharmaceuticals, Inc. (a)		5,228,811
	107,074	REGENXBIO, Inc. (a)		3,358,911
	77,847	Replimune Group Inc. (a)		1,500,890
	1,490,702	Rigel Pharmaceuticals, Inc. (a)		1,773,935
	118,643	Rocket Pharmaceuticals, Inc. (a)		1,720,324
	130,181	Sage Therapeutics, Inc. (a)		4,479,528
	377,363	Sangamo Therapeutics, Inc. (a)		1,618,887
	75,746	Sarepta Therapeutics, Inc. (a)		7,040,591
	37,546	Seagen, Inc. (a)		6,757,529
	239,232	SpringWorks Therapeutics, Inc. (a)		7,148,252
	106,639	Syndax Pharmaceuticals Inc. (a)		2,172,236
	837,250	TG Therapeutics, Inc. (a)		5,015,128
	178,588	Travere Therapeutics, Inc. (a)		4,203,962
	50,964	Turning Point Therapeutics, Inc. (a)		3,821,281
	195,393	Twist Bioscience Corp. (a)		8,546,490
	104,911	Ultragenyx Pharmaceutical, Inc. (a)		5,589,658
	123,686	uniQure N.V. ADR (Netherlands) (a)		3,135,440
	23,761	United Therapeutics Corp. (a)		5,490,454
	116,168	Vanda Pharmaceuticals, Inc. (a)		1,252,291
	272,574	Veracyte, Inc. (a)		7,179,599
	137,415	Vericel Corp. (a)		4,471,484
	20,491	Vertex Pharmaceuticals, Inc. (a)		5,745,881
	94,585	Xencor, Inc. (a)		2,713,644
				353,646,202

Merchant Wholesalers, Nondurable Goods - 2.3%
306,054	Atara Biotherapeutics, Inc. (a)		927,344
231,076	Global Blood Therapeutics, Inc. (a)		7,560,807
314,695	Praxis Precision Medicines, Inc. (a)		1,110,873
430,334	Protagonist Therapeutics Inc. (a)		4,281,823
244,564	Relay Therapeutics, Inc. (a)		4,651,607
171,567	Zentalis Pharmaceuticals, Inc. (a)		5,009,757
			23,542,211
Miscellaneous Manufacturing - 1.5%
19,358	Anika Therapeutics, Inc. (a)		452,203
2,000,147	Inovio Pharmaceuticals, Inc. (a)		3,960,291
144,823	MiMedx Group, Inc. (a)		495,295
88,520	Mirati Therapeutics, Inc. (a)		5,700,688
1,897,668	Ocugen, Inc. (a)(b)		4,895,983
			15,504,460
Nursing and Residential Care Facilities - 0.2%
163,186	Radius Health, Inc. (a)		1,644,915
Professional, Scientific, and Technical Services - 11.6%
1,347,705	Agenus, Inc. (a)		3,477,079
195,634	Alector, Inc. (a)		1,999,379
298,593	Allogene Therapeutics, Inc. (a)		3,875,737
53,490	AnaptysBio, Inc. (a)		1,120,081
229,810	Anavex Life Sciences Corp. (a)		2,357,851
127,214	Apellis Pharmaceuticals, Inc. (a)		7,159,604
171,330	Arrowhead Pharmaceuticals, Inc. (a)		7,286,665
61,591	Avidity Biosciences, Inc. (a)		1,003,317
36,291	Biohaven Pharmaceutical Holding Co. Ltd (a)		5,299,212
82,012	Crispr Therapeutics AG ADR (Switzerland) (a)(b)		6,150,900
132,419	Cytokinetics, Inc. (a)		5,605,296
362,132	Dynavax Technologies Corp. (a)(b)		5,207,458
469,839	Editas Medicine, Inc. (a)(b)		7,475,138
126,788	Exact Sciences Corp. (a)		5,718,139
288,155	Exelixis, Inc. (a)		6,028,203
264,086	Fate Therapeutics, Inc. (a)		8,062,546
60,414	IDEAYA Biosciences, Inc. (a)		901,377
480,128	Iveric Bio, Inc. (a)		5,132,568
126,334	Kura Oncology, Inc. (a)		1,934,174
205,903	Kymera Therapeutics, Inc. (a)		4,536,043
41,191	Moderna, Inc. (a)		6,759,031
62,756	Nkarta, Inc. (a)(b)		847,834
97,376	Nurix Therapeutics, Inc. (a)		1,554,121
141,087	Revolution Medicines, Inc. (a)		3,187,155
2,344,292	Sorrento Therapeutics Inc. (a)(b)		6,095,159
70,317	Vaxcyte, Inc. (a)		1,622,916
226,234	Vir Biotechnology, Inc. (a)		6,291,568
			116,688,551
Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 0.5%
101,319	Cerevel Therapeutics Holdings, Inc. (a)		2,663,677
261,312	EQRx, Inc. (a)(b)		1,424,150
79,757	POINT Biopharma Global Inc. (a)		585,416
			4,673,243
Specialty Trade Contractors - 0.3%
735,991	Vaxart, Inc. (a)(b)		2,708,447
Support Activities for Transportation - 0.7%
629,985	Iovance Biotherapeutics, Inc. (a)		7,339,325
	TOTAL COMMON STOCKS (Cost $551,139,420)	$	546,286,229
SHORT TERM INVESTMENTS - 55.2%
Money Market Funds - 55.2%
363,915,280	Dreyfus Government Cash Management Institutional Shares, 1.83% (c)(d)	$	363,915,280
51,473,582	Dreyfus Treasury Securities Cash Management Institutional Shares, 1.45% (c)		51,473,582
58,557,411	Goldman Sachs Financial Square Government Fund Institutional Shares, 1.69% (c)		58,557,411
81,654,269	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (c)		81,654,269
	TOTAL SHORT TERM INVESTMENTS (Cost $555,600,542)	$	555,600,542
	TOTAL INVESTMENTS (Cost $1,106,739,962) - 109.5% (e)	$	1,101,886,771
	Liabilities in Excess of Other Assets - (9.5)%		(95,747,116	)
	TOTAL NET ASSETS - 100.0%	$	1,006,139,655

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, 2022.

^(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 $640,066,258.

ADR - American Depository Receipt

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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	1.7800 % representing 1 month SOFR rate + spread	J.P. Morgan	12/6/2022		43,456	$	283,607,445	$	(9,818,219	)
Total return of S&P Biotechnology Select Industry Index	1.6600 % representing 1 month SOFR rate + spread	Citibank N.A.	12/13/2022		65,617		350,042,043		62,777,924
Total return of S&P Biotechnology Select Industry Index	1.3300 % representing 1 month SOFR rate + spread	Bank of America Merrill Lynch	12/13/2022		71,604		358,128,224		92,388,714
Total return of S&P Biotechnology Select Industry Index	2.2400 % representing 1 month SOFR rate + spread	UBS Securities LLC	12/14/2022		130,988		846,669,009		(22,201,729	)
Total return of S&P Biotechnology Select Industry Index	2.4800 % representing 1 month SOFR rate + spread	Barclays	4/4/2023		33,500		229,834,388		(19,270,233	)
Total return of S&P Biotechnology Select Industry Index	2.0300 % representing 1 month SOFR rate + spread	Goldman Sachs	7/18/2023		47,000		257,320,532		38,958,068
						$	2,325,601,641	$	142,834,525

Direxion Daily S&P Biotech Bear 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	SHORT TERM INVESTMENTS - 127.6%
	Money Market Funds - 127.6%
	88,631,162	Dreyfus Government Cash Management Institutional Shares, 1.83% (a)	$	88,631,162
	27,030,978	Dreyfus Treasury Securities Cash Management Institutional Shares, 1.45% (a)		27,030,978
	13,370,000	Goldman Sachs Financial Square Government Fund Institutional Shares, 1.69% (a)		13,370,000
	52,223,987	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (a)		52,223,987
		TOTAL SHORT TERM INVESTMENTS (Cost $181,256,127) (b)	$	181,256,127
		TOTAL INVESTMENTS (Cost $181,256,127) - 127.6%	$	181,256,127
		Liabilities in Excess of Other Assets - (27.6)%		(39,193,669	)
		TOTAL NET ASSETS - 100.0%	$	142,062,458

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, 2022.

^(b) All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $113,708,340.

Short Total Return Swap Contracts (Unaudited)

July 31, 2022

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)
1.3800 % representing 1 month SOFR rate + spread	Total return of S&P Biotechnology Select Industry Index	J.P. Morgan	12/6/2022		8,366	$	44,023,900	$	(8,650,351	)
1.7800 % representing 1 month SOFR rate + spread	Total return of S&P Biotechnology Select Industry Index	Barclays	12/7/2022		6,000		32,596,593		(5,130,432	)
1.3800 % representing 1 month SOFR rate + spread	Total return of S&P Biotechnology Select Industry Index	Citibank N.A.	12/13/2022		2,535		13,590,944		(2,363,822	)
1.1300 % representing 1 month SOFR rate + spread	Total return of S&P Biotechnology Select Industry Index	Bank of America Merrill Lynch	12/13/2022		9,943		50,377,778		(12,228,953	)
1.7500 % representing 1 month SOFR rate + spread	Total return of S&P Biotechnology Select Industry Index	UBS Securities LLC	12/14/2022		25,767		168,148,343		5,789,572
1.7300 % representing 1 month SOFR rate + spread	Total return of S&P Biotechnology Select Industry Index	Goldman Sachs	7/31/2023		15,000		86,296,754		(8,260,246	)
						$	395,034,312	$	(30,844,232	)

Direxion Daily Semiconductor Bull 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 59.0%
	Computer and Electronic Product Manufacturing - 47.7%
	1,852,683	Advanced Micro Devices, Inc. (a)	$	175,022,963
	717,258	Analog Devices, Inc.		123,339,686
	416,196	Broadcom, Inc.		222,864,634
	5,435,735	Intel Corp.		197,371,538
	505,699	Lattice Semiconductor Corp. (a)		31,100,488
	2,041,345	Marvell Technology, Inc.		113,662,090
	1,661,491	Microchip Technology, Inc.		114,410,270
	1,635,163	Micron Technology, Inc.		101,151,183
	205,810	MKS Instruments, Inc.		24,326,742
	163,295	Monolithic Power Systems, Inc.		75,886,452
	1,293,309	NVIDIA Corp.		234,903,714
	635,983	NXP Semiconductors N.V. ADR (Netherlands)		116,944,554
	1,603,876	ON Semiconductor Corp. (a)		107,106,839
	391,508	Qorvo, Inc. (a)		40,744,238
	842,957	Qualcomm, Inc.		122,279,342
	596,433	Skyworks Solutions, Inc.		64,939,625
	992,034	STMicroelectronics NV ADR (Netherlands) (b)		37,637,770
	1,160,200	Taiwan Semiconductor Manufacturing Co. Ltd. ADR (Taiwan)		102,654,496
	593,203	Teradyne, Inc.		59,848,251
	1,067,947	Texas Instruments, Inc.		191,045,039
	2,719,799	United Microelectronics Corp. ADR (Taiwan) (b)		18,549,029
	161,050	Universal Display Corp.		18,594,833
	456,774	Wolfspeed, Inc. (a)		38,049,274
				2,332,433,050
	Credit Intermediation and Related Activities - 0.3%
	2,374,080	ASE Technology Holding Co., Ltd. ADR (Taiwan)		13,983,331
	Electrical Equipment, Appliance, and Component Manufacturing - 0.4%
	145,144	Synaptics, Inc. (a)		21,038,623
	Machinery Manufacturing - 6.9%
	1,029,771	Applied Materials, Inc.		109,135,131
	192,016	ASML Holding NV ADR (Netherlands)		110,301,671
	232,865	Lam Research Corp.		116,551,261
				335,988,063
	Merchant Wholesalers, Durable Goods - 3.7%
	501,529	Entegris, Inc.		55,118,037
	330,634	KLA-Tencor Corp.		126,811,364
				181,929,401
		TOTAL COMMON STOCKS (Cost $2,868,641,267)	$	2,885,372,468
	SHORT TERM INVESTMENTS - 47.3%
	Money Market Funds - 47.3%
	1,415,178,515	Dreyfus Government Cash Management Institutional Shares, 1.83% (c)(d)	$	1,415,178,515
	346,147,868	Dreyfus Treasury Securities Cash Management Institutional Shares, 1.45% (c)		346,147,868
	14,520,000	Goldman Sachs Financial Square Government Fund Institutional Shares, 1.69% (c)		14,520,000
	534,926,294	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (c)		534,926,294
		TOTAL SHORT TERM INVESTMENTS (Cost $2,310,772,677)	$	2,310,772,677
		TOTAL INVESTMENTS (Cost $5,179,413,944) - 106.3% (e)	$	5,196,145,145
		Liabilities in Excess of Other Assets - (6.3)%		(309,144,695	)
		TOTAL NET ASSETS - 100.0%	$	4,887,000,450

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, 2022.

^(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 $3,443,867,206.

ADR - American Depository Receipt

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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	1.8300 % representing 1 month SOFR rate + spread	J.P. Morgan	9/26/2022	2,156,844	$	1,407,277,868	$	85,002,171
Total return of ICE Semiconductor Index	2.3800 % representing 1 month SOFR rate + spread	Goldman Sachs	11/16/2022	3,700,338		2,291,931,712		266,413,906
Total return of ICE Semiconductor Index	2.3100 % representing 1 month SOFR rate + spread	Barclays	12/7/2022	2,606,660		1,718,370,732		84,022,633
Total return of ICE Semiconductor Index	1.9800 % representing 1 month SOFR rate + spread	Citibank N.A.	12/13/2022	2,066,724		1,361,950,449		67,955,499
Total return of ICE Semiconductor Index	2.1300 % representing 1 month SOFR rate + spread	Bank of America Merrill Lynch	12/13/2022	1,767,476		1,365,459,500		(143,134,217	)
Total return of ICE Semiconductor Index	2.2900 % representing 1 month SOFR rate + spread	UBS Securities LLC	12/14/2022	2,099,208		1,398,808,747		52,548,539
Total return of ICE Semiconductor Index	2.4200 % representing 1 month SOFR rate + spread	BNP Paribas	12/15/2022	2,627,684		1,630,156,001		185,707,183
					$	11,173,955,009	$	598,515,714

Direxion Daily Semiconductor Bear 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	SHORT TERM INVESTMENTS - 110.6%
	Money Market Funds - 110.6%
	270,674,756	Dreyfus Government Cash Management Institutional Shares, 1.83% (a)	$	270,674,756
	94,171,610	Dreyfus Treasury Securities Cash Management Institutional Shares, 1.45% (a)		94,171,610
	47,673,245	Goldman Sachs Financial Square Government Fund Institutional Shares, 1.69% (a)		47,673,245
	96,445,448	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (a)		96,445,448
		TOTAL SHORT TERM INVESTMENTS (Cost $508,965,059) (b)	$	508,965,059
		TOTAL INVESTMENTS (Cost $508,965,059) - 110.6%	$	508,965,059
		Liabilities in Excess of Other Assets - (10.6)%		(48,934,589	)
		TOTAL NET ASSETS - 100.0%	$	460,030,470

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, 2022.

^(b) All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $342,423,255.

Short Total Return Swap Contracts (Unaudited)

July 31, 2022

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)
1.3800 % representing 1 month SOFR rate + spread	Total return of ICE Semiconductor Index	J.P. Morgan	12/6/2022	287,971	$	166,390,736	$	(32,740,736	)
1.8600 % representing 1 month SOFR rate + spread	Total return of ICE Semiconductor Index	Barclays	12/7/2022	466,755		308,016,602		(14,732,625	)
1.6800 % representing 1 month SOFR rate + spread	Total return of ICE Semiconductor Index	Goldman Sachs	12/9/2022	589,366		388,020,107		(19,562,561	)
1.6800 % representing 1 month SOFR rate + spread	Total return of ICE Semiconductor Index	Citibank N.A.	12/13/2022	34,425		27,721,420		3,826,833
1.9300 % representing 1 month SOFR rate + spread	Total return of ICE Semiconductor Index	Bank of America Merrill Lynch	12/13/2022	101,065		79,893,861		9,878,194
1.9300 % representing 1 month SOFR rate + spread	Total return of ICE Semiconductor Index	UBS Securities LLC	12/14/2022	392,826		224,688,615		(46,824,956	)
1.5700 % representing 1 month SOFR rate + spread	Total return of ICE Semiconductor Index	BNP Paribas	12/15/2022	122,941		79,812,829		(5,223,494	)
					$	1,274,544,170	$	(105,379,345	)

Direxion Daily Technology Bull 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 57.9%
	Administrative and Support Services - 3.1%
	49,111	Automatic Data Processing, Inc.	$	11,841,644
	13,782	Broadridge Financial Solutions, Inc.		2,212,700
	9,098	FleetCor Technologies, Inc. (a)		2,002,379
	9,467	Gartner, Inc. (a)		2,513,299
	193,485	Visa, Inc. Class A		41,040,104
				59,610,126
	Amusement, Gambling, and Recreation Industries - 0.2%
	33,103	Global Payments, Inc.		4,049,159
	Computer and Electronic Product Manufacturing - 28.3%
	190,516	Advanced Micro Devices, Inc. (a)		17,998,046
	70,205	Amphenol Corp. Class A		5,414,912
	61,524	Analog Devices, Inc.		10,579,667
	1,648,619	Apple, Inc.		267,917,074
	26,454	Arista Networks, Inc. (a)		3,085,330
	48,004	Broadcom, Inc.		25,705,182
	488,387	Cisco Systems, Inc.		22,158,118
	15,871	Enphase Energy, Inc. (a)		4,510,221
	78,321	Fortinet, Inc. (a)		4,671,848
	123,845	HP, Inc.		4,135,184
	480,728	Intel Corp.		17,455,234
	105,747	International Business Machines Corp.		13,830,650
	21,392	Keysight Technologies, Inc. (a)		3,478,339
	65,363	Microchip Technology, Inc.		4,500,896
	131,277	Micron Technology, Inc.		8,120,795
	5,153	Monolithic Power Systems, Inc.		2,394,702
	19,666	Motorola Solutions, Inc.		4,692,111
	26,167	NetApp, Inc.		1,866,492
	294,393	NVIDIA Corp.		53,470,601
	30,868	NXP Semiconductors N.V. ADR (Netherlands)		5,676,008
	51,078	ON Semiconductor Corp. (a)		3,410,989
	12,745	Qorvo, Inc. (a)		1,326,372
	131,676	Qualcomm, Inc.		19,100,921
	12,452	Roper Technologies, Inc.		5,437,415
	23,239	Seagate Technology Holdings PLC ADR (Ireland)		1,858,655
	18,918	Skyworks Solutions, Inc.		2,059,792
	6,510	SolarEdge Technologies, Inc. (a)		2,344,446
	18,834	Teradyne, Inc.		1,900,162
	108,412	Texas Instruments, Inc.		19,393,823
	29,409	Trimble, Inc. (a)		2,041,867
	36,821	Western Digital Corp. (a)		1,807,911
	6,176	Zebra Technologies Corp. Class A (a)		2,209,093
				544,552,856
	Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services - 0.4%
	68,393	Fiserv, Inc. (a)		7,227,772
	Credit Intermediation and Related Activities - 2.2%
	71,808	Fidelity National Information Services, Inc.		7,335,905
	100,965	MasterCard, Inc. Class A		35,720,408
				43,056,313
	Electrical Equipment, Appliance, and Component Manufacturing - 0.3%
	37,875	TE Connectivity Ltd. ADR (Switzerland)		5,065,024
	Machinery Manufacturing - 1.0%
	103,859	Applied Materials, Inc.		11,006,977
	16,307	Lam Research Corp.		8,161,816
				19,168,793
	Merchant Wholesalers, Durable Goods - 0.3%
	17,545	KLA-Tencor Corp.		6,729,209
	Nonmetallic Mineral Product Manufacturing - 0.2%
	89,370	Corning, Inc.		3,285,241
	Professional, Scientific, and Technical Services - 3.0%
	74,468	Accenture PLC Class A ADR (Ireland)		22,806,570
	15,881	CDW Corp.		2,882,878
	61,274	Cognizant Technology Solutions Corp. Class A		4,164,181
	28,743	DXC Technology Co. (a)		908,279
	6,722	EPAM Systems, Inc. (a)		2,347,658
	7,107	F5 Networks, Inc. (a)		1,189,427
	8,569	Jack Henry & Associates, Inc.		1,780,381
	37,991	Juniper Networks, Inc.		1,064,888
	37,772	Paychex, Inc.		4,845,392
	5,659	Paycom Software, Inc. (a)		1,870,243
	23,571	ServiceNow, Inc. (a)		10,528,223
	5,509	Teledyne Technologies, Inc. (a)		2,156,223
	11,205	VeriSign, Inc. (a)		2,119,538
				58,663,881
	Publishing Industries - 17.2%
	55,553	Adobe Systems, Inc. (a)		22,783,396
	10,225	ANSYS, Inc. (a)		2,852,673
	25,577	Autodesk, Inc. (a)		5,532,817
	32,423	Cadence Design Systems, Inc. (a)		6,033,272
	16,155	Ceridian HCM Holding, Inc. (a)		884,809
	33,249	Intuit, Inc.		15,167,196
	879,282	Microsoft Corp.		246,849,629
	12,379	PTC, Inc. (a)		1,527,321
	116,802	Salesforce.com, Inc. (a)		21,493,904
	18,000	Synopsys, Inc. (a)		6,615,000
	4,878	Tyler Technologies, Inc. (a)		1,946,322
				331,686,339
	Publishing Industries (except Internet) - 1.1%
	18,846	Akamai Technologies, Inc. (a)		1,813,362
	14,660	Citrix Systems, Inc.		1,486,670
	152,853	Hewlett Packard Enterprise Co.		2,176,627
	68,406	NortonLifeLock, Inc.		1,677,999
	185,071	Oracle Corp.		14,405,927
				21,560,585
	Telecommunications - 0.6%
	136,145	PayPal Holdings, Inc. (a)		11,780,627
		TOTAL COMMON STOCKS (Cost $976,660,590)	$	1,116,435,925
	SHORT TERM INVESTMENTS - 41.5%
	Money Market Funds - 41.5%
	361,704,643	Dreyfus Government Cash Management Institutional Shares, 1.83% (b)	$	361,704,643
	104,647,372	Dreyfus Treasury Securities Cash Management Institutional Shares, 1.45% (b)		104,647,372

99,995,118	Goldman Sachs Financial Square Government Fund Institutional Shares, 1.69% (b)		99,995,118
232,869,070	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (b)		232,869,070
	TOTAL SHORT TERM INVESTMENTS (Cost $ 799,216,203)	$	799,216,203
	TOTAL INVESTMENTS (Cost $ 1,775,876,793) - 99.4% (c)	$	1,915,652,128
	Other Assets in Excess of Liabilities - 0.6%		12,036,628
	TOTAL NET ASSETS - 100.0%	$	1,927,688,756

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, 2022.

^(c) All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $1,320,185,450.

ADR - American Depository Receipt

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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	1.9800 % representing 1 month SOFR rate + spread	J.P. Morgan	12/6/2022	487,946	$	659,862,774	$	48,235,964
Total return of Technology Select Sector Index	2.1200 % representing 1 month SOFR rate + spread	Barclays	12/7/2022	799,368		1,060,320,260		99,649,505
Total return of Technology Select Sector Index	2.2300 % representing 1 month SOFR rate + spread	Credit Suisse International	12/8/2022	85,000		116,263,298		6,942,838
Total return of Technology Select Sector Index	2.0300 % representing 1 month SOFR rate + spread	Goldman Sachs	12/9/2022	589,400		805,342,635		49,523,066
Total return of Technology Select Sector Index	2.2000 % representing 1 month SOFR rate + spread	Citibank N.A.	12/13/2022	331,955		502,138,631		(21,222,139	)
Total return of Technology Select Sector Index	2.1300 % representing 1 month SOFR rate + spread	Bank of America Merrill Lynch	12/13/2022	327,668		471,713,976		3,231,676
Total return of Technology Select Sector Index	2.1900 % representing 1 month SOFR rate + spread	UBS Securities LLC	12/14/2022	338,585		506,633,645		(15,721,787	)
Total return of Technology Select Sector Index	2.3200 % representing 1 month SOFR rate + spread	BNP Paribas	12/15/2022	252,886		338,439,863		28,452,146
					$	4,460,715,082	$	199,091,269

Direxion Daily Technology Bear 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	SHORT TERM INVESTMENTS - 123.3%
	Money Market Funds - 123.3%
	77,975,858	Dreyfus Government Cash Management Institutional Shares, 1.83% (a)	$	77,975,858
	12,631,483	Dreyfus Treasury Securities Cash Management Institutional Shares, 1.45% (a)		12,631,483
	54,502,088	Goldman Sachs Financial Square Government Fund Institutional Shares, 1.69% (a)		54,502,088
	14,502,919	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (a)		14,502,919
		TOTAL SHORT TERM INVESTMENTS (Cost $159,612,348) (b)	$	159,612,348
		TOTAL INVESTMENTS (Cost $159,612,348) - 123.3%	$	159,612,348
		Liabilities in Excess of Other Assets - (23.3)%		(30,188,496	)
		TOTAL NET ASSETS - 100.0%	$	129,423,852

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, 2022.

^(b) All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $100,171,486.

Short Total Return Swap Contracts (Unaudited)

July 31, 2022

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)
1.5300 % representing 1 month SOFR rate + spread	Total return of Technology Select Sector Index	J.P. Morgan	12/6/2022		17,414	$	25,112,836	$	(152,174	)
1.7600 % representing 1 month SOFR rate + spread	Total return of Technology Select Sector Index	Barclays	12/7/2022		147,718		199,033,510		(15,393,028	)
1.7800 % representing 1 month SOFR rate + spread	Total return of Technology Select Sector Index	Citibank N.A.	12/13/2022		16,341		25,859,615		2,144,652
1.9300 % representing 1 month SOFR rate + spread	Total return of Technology Select Sector Index	Bank of America Merrill Lynch	12/13/2022		11,301		15,457,451		(932,408	)
1.9200 % representing 1 month SOFR rate + spread	Total return of Technology Select Sector Index	UBS Securities LLC	12/14/2022		36,971		50,277,972		(3,265,904	)
1.5700 % representing 1 month SOFR rate + spread	Total return of Technology Select Sector Index	BNP Paribas	12/15/2022		6,697		8,962,662		(757,959	)
1.7300 % representing 1 month SOFR rate + spread	Total return of Technology Select Sector Index	Goldman Sachs	5/12/2023		30,871		43,537,315		(1,231,122	)
						$	368,241,361	$	(19,587,943	)

Direxion Daily Transportation Bull 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 44.0%
	Air Transportation - 6.1%
	3,242	Alaska Air Group, Inc. (a)	$	143,718
	391	Allegiant Travel Co. (a)		45,086
	16,698	American Airlines Group, Inc. (a)		228,930
	674	Atlas Air Worldwide Holdings, Inc. (a)		51,028
	16,480	Delta Air Lines, Inc. (a)		524,064
	1,319	Hawaiian Holdings, Inc. (a)		19,732
	8,247	JetBlue Airways Corp. (a)		69,440
	1,299	Skywest, Inc. (a)		31,371
	15,244	Southwest Airlines Co. (a)		581,101
	2,792	Spirit Airlines, Inc. (a)		69,158
	8,400	United Continental Holdings, Inc. (a)		308,700
				2,072,328
	Couriers and Messengers - 10.7%
	1,491	Air Transport Services Group, Inc. (a)		46,728
	3,067	FedEx Corp.		714,887
	14,844	United Parcel Service, Inc. Class B		2,892,947
				3,654,562
	Rail Transportation -11.9%
	37,218	CSX Corp.		1,203,258
	12,693	Union Pacific Corp.		2,885,119
				4,088,377
	Rental and Leasing Services - 1.2%
	252	AMERCO (a)		135,344
	881	Avis Budget Group, Inc. (a)		160,368
	1,315	Ryder System, Inc.		102,991
				398,703
	Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 0.1%
	6,860	Joby Aviation, Inc. (a)		38,005
	Support Activities for Transportation - 6.7%
	3,272	C.H. Robinson Worldwide, Inc.		362,210
	1,550	Daseke, Inc. (a)		12,989
	4,313	Expeditors International of Washington, Inc.		458,256
	691	Forward Air Corp. (a)		72,507
	874	Hub Group, Inc. (a)		66,774
	2,155	J.B. Hunt Transport Services, Inc.		394,947
	1,042	Matson, Inc.		95,520
	2,743	Norfolk Southern Corp.		688,959
	2,543	XPO Logistics, Inc. (a)		151,919
				2,304,081
	Transit and Ground Passenger Transportation - 2.1%
	7,765	Lyft, Inc. (a)		107,623
	25,789	Uber Technologies, Inc. (a)		604,752
				712,375
	Transportation - 0.6%
	1,203	Blade Air Mobility, Inc. (a)		6,683
	783	Frontier Group Holdings, Inc. (a)		11,338
	920	Genco Shipping & Trading Ltd (a)		17,737
	2,616	GXO Logistics, Inc. (a)		125,568
	1,271	Hertz Global Holdings, Inc. (a)		27,225
	805	Sun Country Airlines Holdings, Inc. (a)		16,237
	4,521	Wheels Up Experience, Inc. (a)		10,127
				214,915
	Truck Transportation - 3.8%
	629	ArcBest Corp. (a)		55,729
	1,197	Heartland Express, Inc. (a)		19,008
	4,205	Knight-Swift Transportation Holdings, Inc. Class A (a)		231,065
	1,517	Marten Transport Ltd. (a)		32,707
	2,360	Old Dominion Freight Line, Inc.		716,284
	679	Saia, Inc. (a)		161,500
	903	Schneider National, Inc. (a)		22,873
	1,522	Werner Enterprises, Inc. (a)		66,907
				1,306,073
	Warehousing and Storage - 0.5%
	954	Landstar System, Inc.		149,377
	Water Transportation - 0.3%
	352	Eagle Bulk Shipping, Inc. (a)		18,631
	1,550	Kirby Corp. (a)		98,332
				116,963
		TOTAL COMMON STOCKS (Cost $16,182,049)	$	15,055,759
	SHORT TERM INVESTMENTS - 52.2%
	Money Market Funds - 52.2%
	4,087,874	Dreyfus Government Cash Management Institutional Shares, 1.83% (b)	$	4,087,874
	13,781,797	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (b)		13,781,797
		TOTAL SHORT TERM INVESTMENTS (Cost $17,869,671)	$	17,869,671
		TOTAL INVESTMENTS (Cost $34,051,720) - 96.2% (c)	$	32,925,430
		Other Assets in Excess of Liabilities - 3.8%		1,311,305
		TOTAL NET ASSETS - 100.0%	$	34,236,735

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, 2022.

^(c)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $28,688,236.

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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 S&P Transportation Select Industry FMC Capped Index	2.2300 % representing 1 month SOFR rate + spread	Credit Suisse International	12/8/2022		7,816	$	41,357,228	$	(2,068	)
Total return of S&P Transportation Select Industry FMC Capped Index	2.0300 % representing 1 month SOFR rate + spread	Citibank N.A.	12/13/2022		5,780		30,584,029		(1,529	)
Total return of S&P Transportation Select Industry FMC Capped Index	2.1700 % representing 1 month SOFR rate + spread	UBS Securities LLC	12/14/2022		2,977		15,753,059		(1,484	)
						$	87,694,316	$	(5,081	)

Direxion Daily Utilities Bull 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	COMMON STOCKS - 51.5%
	Oil and Gas Extraction - 3.3%
	8,380	Dominion Energy, Inc.	$	686,992
	Utilities - 48.2%
	6,899	AES Corp.		153,296
	2,591	Alliant Energy Corp.		157,870
	2,667	Ameren Corp.		248,351
	5,305	American Electric Power Co., Inc.		522,861
	1,877	American Water Works Co., Inc.		291,761
	1,436	Atmos Energy Corp.		174,316
	6,502	CenterPoint Energy, Inc.		206,048
	2,997	CMS Energy Corp.		205,984
	3,660	Consolidated Edison, Inc.		363,328
	3,375	Constellation Energy Corp.		223,088
	2,001	DTE Energy Co.		260,730
	7,953	Duke Energy Corp.		874,273
	3,938	Edison International		266,878
	2,101	Entergy Corp.		241,888
	2,370	Evergy, Inc.		161,776
	3,562	Eversource Energy		314,240
	10,125	Exelon Corp.		470,711
	5,897	FirstEnergy Corp.		242,367
	20,292	NextEra Energy, Inc.		1,714,471
	4,192	NiSource, Inc.		127,437
	2,451	NRG Energy, Inc.		92,525
	1,167	Pinnacle West Capital Corp.		85,739
	7,601	PPL Corp.		221,037
	5,157	Public Service Enterprise Group, Inc.		338,660
	3,247	Sempra Energy		538,353
	10,975	Southern Co.		843,868
	3,258	WEC Energy Group, Inc.		338,213
	5,626	Xcel Energy, Inc.		411,711
				10,091,780
		TOTAL COMMON STOCKS (Cost $10,299,666)	$	10,778,772
	SHORT TERM INVESTMENTS - 50.4%
	Money Market Funds - 50.4%
	9,002,771	Dreyfus Government Cash Management Institutional Shares, 1.83% (b)	$	9,002,771
	1,544,121	Goldman Sachs Financial Square Government Fund Institutional Shares, 1.69% (b)		1,544,121
		TOTAL SHORT TERM INVESTMENTS (Cost $10,546,892)	$	10,546,892
		TOTAL INVESTMENTS (Cost $20,846,558) - 101.9% (c)	$	21,325,664
		Liabilities in Excess of Other Assets - (1.9)%		(411,036	)
		TOTAL NET ASSETS - 100.0%	$	20,914,628

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, 2022.

^(c)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $13,463,901.

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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 Utilities Select Sector Index	2.0800 % representing 1 month SOFR rate + spread	Barclays	12/7/2022		19,025	$	13,128,728	$	1,165,634
Total return of Utilities Select Sector Index	1.9800 % representing 1 month SOFR rate + spread	Citibank N.A.	12/13/2022		20,972		14,904,233		914,475
Total return of Utilities Select Sector Index	1.9300 % representing 1 month SOFR rate + spread	UBS Securities LLC	12/14/2022		29,383		19,827,572		2,163,852
						$	47,860,533	$	4,243,961

Direxion Daily 7-10 Year Treasury Bull 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	INVESTMENT COMPANIES - 63.9%
	157,286	iShares 7-10 Year Treasury Bond ETF (a)(b)	$	16,541,769
		TOTAL INVESTMENT COMPANIES (Cost $17,168,315)	$	16,541,769
	SHORT TERM INVESTMENTS - 41.0%
	Money Market Funds - 41.0%
	8,981,406	Dreyfus Government Cash Management Institutional Shares, 1.83% (c)(d)	$	8,981,406
	67	Goldman Sachs Financial Square Government Fund Institutional Shares, 1.69% (c)		67
	1,645,530	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (c)		1,645,530
		TOTAL SHORT TERM INVESTMENTS (Cost $10,627,003)	$	10,627,003
		TOTAL INVESTMENTS (Cost $27,795,318) - 104.9% (e)	$	27,168,772
		Liabilities in Excess of Other Assets - (4.9)%		(1,262,657	)
		TOTAL NET ASSETS - 100.0%	$	25,906,115

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, 2022.

^(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 $20,899,472.

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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 7-10 Year Treasury Bond ETF	1.8300% representing 1 month SOFR rate + spread	Barclays	12/7/2022		86,667	$	9,053,429	$	57,755
Total return of iShares 7-10 Year Treasury Bond ETF	1.6800% representing 1 month SOFR rate + spread	Bank of America Merrill Lynch	12/13/2022		86,435		9,745,492		(634,080	)
Total return of iShares 7-10 Year Treasury Bond ETF	0.9400% representing 1 month SOFR rate + spread	BNP Paribas	12/15/2022		175,433		17,919,162		519,763
Total return of iShares 7-10 Year Treasury Bond ETF	1.7300% representing 1 month SOFR rate + spread	J.P. Morgan	2/10/2023		233,147		23,950,809		558,990
						$	60,668,892	$	502,428

Direxion Daily 7-10 Year Treasury Bear 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	SHORT TERM INVESTMENTS - 107.0%
	Money Market Funds - 107.0%
	29,562,759	Dreyfus Government Cash Management Institutional Shares, 1.83% (a)	$	29,562,759
	3,810,066	Goldman Sachs Financial Square Government Fund Institutional Shares, 1.69% (a)		3,810,066
	22,008,232	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (a)		22,008,232
		TOTAL SHORT TERM INVESTMENTS (Cost $55,381,057) (b)	$	55,381,057
		TOTAL INVESTMENTS (Cost $55,381,057) - 107.0%	$	55,381,057
		Liabilities in Excess of Other Assets - (7.0)%		(3,602,412	)
		TOTAL NET ASSETS - 100.0%	$	51,778,645

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, 2022.

^(b)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $37,751,820.

Short Total Return Swap Contracts (Unaudited)

July 31, 2022

Terms of Payments to be Received at Termination	Terms of Payments to be Paid at Termination	Counterparty	Termination Date	Contracts		Notional Amount		Unrealized Depreciation
0.5800 % representing 1 month SOFR rate + spread	Total return of iShares 7-10 Year Treasury Bond ETF	J.P. Morgan	12/6/2022		233,284	$	23,741,152	$	(783,740	)
1.4400 % representing 1 month SOFR rate + spread	Total return of iShares 7-10 Year Treasury Bond ETF	Barclays	12/7/2022		169,137		17,765,653		(42,400	)
1.6300 % representing 1 month SOFR rate + spread	Total return of iShares 7-10 Year Treasury Bond ETF	Bank of America Merrill Lynch	12/13/2022		575,828		59,211,602		(1,348,258	)
0.6400 % representing 1 month SOFR rate + spread	Total return of iShares 7-10 Year Treasury Bond ETF	BNP Paribas	12/15/2022		498,704		50,960,404		(1,466,737	)
						$	151,678,811	$	(3,641,135	)

Direxion Daily 20+ Year Treasury Bull 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	INVESTMENT COMPANIES - 56.5%
	1,715,005	iShares 20+ Year Treasury Bond ETF (a)	$	201,393,037
		TOTAL INVESTMENT COMPANIES (Cost $225,439,100)	$	201,393,037
	SHORT TERM INVESTMENTS - 59.1%
	Money Market Funds - 59.1%
	130,197,558	Dreyfus Government Cash Management Institutional Shares, 1.83% (b)	$	130,197,558
	80,206,714	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (b)		80,206,714
		TOTAL SHORT TERM INVESTMENTS (Cost $210,404,272)	$	210,404,272
		TOTAL INVESTMENTS (Cost $435,843,372) - 115.6% (c)	$	411,797,309
		Liabilities in Excess of Other Assets - (15.6)%		(55,533,364	)
		TOTAL NET ASSETS - 100.0%	$	356,263,945

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, 2022.

^(c)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $314,230,611.

Long Total Return Swap Contracts (Unaudited)

July 31, 2022

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 20+ Year Treasury Bond ETF	2.0000 % representing 1 month SOFR rate + spread	Credit Suisse International	12/13/2022		370,508	$	54,849,767	$	(11,009,773	)
Total return of iShares 20+ Year Treasury Bond ETF	1.7100 % representing 1 month SOFR rate + spread	Citibank N.A.	12/13/2022		1,995,555		227,838,559		6,464,986
Total return of iShares 20+ Year Treasury Bond ETF	1.3300 % representing 1 month SOFR rate + spread	Bank of America Merrill Lynch	12/13/2022		1,135,766		169,359,029		(35,188,901	)
Total return of iShares 20+ Year Treasury Bond ETF	1.5000 % representing 1 month SOFR rate + spread	UBS Securities LLC	12/14/2022		1,893,393		228,029,302		(5,336,636	)
Total return of iShares 20+ Year Treasury Bond ETF	1.8400 % representing 1 month SOFR rate + spread	BNP Paribas	12/15/2022		1,493,778		169,932,185		5,263,549
Total return of iShares 20+ Year Treasury Bond ETF	1.8300 % representing 1 month SOFR rate + spread	J.P. Morgan	2/10/2023		497,293		70,744,902		(12,080,963	)
						$	920,753,744	$	(51,887,738	)

Direxion Daily 20+ Year Treasury Bear 3X Shares

Schedule of Investments (Unaudited)

July 31, 2022

Shares			Fair Value
	SHORT TERM INVESTMENTS - 111.1%
	Money Market Funds - 111.1%
	356,752,034	Dreyfus Government Cash Management Institutional Shares, 1.83% (a)	$	356,752,034
	72,392,870	Dreyfus Treasury Securities Cash Management Institutional Shares, 1.45% (a)		72,392,870
	150,039,624	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 1.48% (a)		150,039,624
		TOTAL SHORT TERM INVESTMENTS (Cost $579,184,528) (b)	$	579,184,528
		TOTAL INVESTMENTS (Cost $579,184,528) - 111.1%	$	579,184,528
		Liabilities in Excess of Other Assets - (11.1)%		(57,720,806	)
		TOTAL NET ASSETS - 100.0%	$	521,463,722

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, 2022.

^(b)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $365,119,783.

Short Total Return Swap Contracts (Unaudited)

July 31, 2022

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)
1.3300 % representing 1 month SOFR rate + spread	Total return of iShares 20+ Year Treasury Bond ETF	J.P. Morgan	12/6/2022		1,332,377	$	148,693,273	$	(7,883,971	)
1.6800 % representing 1 month SOFR rate + spread	Total return of iShares 20+ Year Treasury Bond ETF	Credit Suisse International	12/7/2022		771,702		117,476,195		25,789,740
1.4300 % representing 1 month SOFR rate + spread	Total return of iShares 20+ Year Treasury Bond ETF	Citibank N.A.	12/13/2022		1,949,529		229,032,033		(57,828	)
1.0300 % representing 1 month SOFR rate + spread	Total return of iShares 20+ Year Treasury Bond ETF	Bank of America Merrill Lynch	12/13/2022		1,455,876		175,797,027		4,146,756
0.9400 % representing 1 month SOFR rate + spread	Total return of iShares 20+ Year Treasury Bond ETF	UBS Securities LLC	12/14/2022		1,539,949		167,561,851		(13,422,656	)
1.6200 % representing 1 month SOFR rate + spread	Total return of iShares 20+ Year Treasury Bond ETF	BNP Paribas	12/15/2022		3,571,940		406,343,894		(12,644,026	)
1.2300 % representing 1 month SOFR rate + spread	Total return of iShares 20+ Year Treasury Bond ETF	Goldman Sachs	6/5/2023		2,700,000		307,329,894		(9,731,106	)
						$	1,552,234,167	$	(13,803,091	)

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, 2022:

	Asset Class												Liability Class
	Level 1										Level 2		Level 1			Level 2
Funds	Investment Companies		Common Stocks		Short Term Investments		Cash Equivalents		Futures Contracts*		Total Return Swap Contracts*		Futures Contracts*			Total Return Swap Contracts*
Direxion Auspice Broad Commodity Strategy ETF (Consolidated)	$	—	$	—	$	327,615,020		—	$	992,260	$	—	$	(1,429,568	)	$	—
Direxion Breakfast Commodities Strategy ETF (Consolidated)		—		—		6,091,452		—		37,864		—		(753,188	)		—
Direxion Fallen Knives ETF		—		2,380,337		50,426		—		—		—		—			—
Direxion Hydrogen ETF		—		27,213,073		2,789,063		—		—		—		—			—
Direxion Low Priced Stock ETF		—		1,451,607		246,079		—		—		—		—			—
Direxion Moonshot Innovators ETF		—		46,573,914		14,000,413		—		—		—		—			—
Direxion mRNA ETF		—		3,578,282		79,874		—		—		—		—			—
Direxion Nanotechnology ETF		—		1,757,603		2,403		—		—		—		—			—
Direxion NASDAQ-100® Equal Weighted Index Shares		—		793,200,659		13,908,406		—		—		—		—			—
Direxion Work From Home ETF		—		45,761,234		409,090		—		—		—		—			—
Direxion World Without Waste ETF		—		3,412,427		40,515		—		—		—		—			—
Direxion Russell 1000® Growth Over Value ETF		9,383,391		—		2,687,091		—		—		95,862		—			(665,978	)
Direxion Russell 1000® Value Over Growth ETF		15,611,084		—		637,525		—		—		—		—			(449,988	)
Direxion Daily CSI 300 China A Share Bear 1X Shares		—		—		151,868,983		—		—		2,152,919		—			(1,307,197	)
Direxion Daily S&P 500® Bear 1X Shares		—		—		403,660,895		—		—		8,064,622		—			(25,936,247	)
Direxion Daily CSI 300 China A Share Bull 2X Shares		1,766,448		—		66,964,193		—		—		2,605,516		—			(3,639,229	)
Direxion Daily CSI China Internet Index Bull 2X Shares		143,770,164		—		208,691,162		—		—		6,891,368		—			(18,975,142	)
Direxion Daily S&P 500® Bull 2X Shares		42,179,504		—		2,230,585		—		—		1,106,260		—			(2,284,246	)
Direxion Daily S&P 500® Equal Weight Bull 2X Shares		2,610,536		—		1,805,318		—		—		—		—			(64,428	)
Direxion Daily MSCI Brazil Bull 2X Shares		36,648,894		—		94,935,221		—		—		4,118,564		—			(8,556,122	)
Direxion Daily MSCI India Bull 2X Shares		21,718,759		—		49,398,354		—		—		3,398,339		—			(669,935	)
Direxion Daily 5G Communications Bull 2X Shares		—		2,221,936		756,147		—		—		135,552		—			—
Direxion Daily Cloud Computing Bull 2X Shares		—		6,259,335		2,680,516		—		—		266,605		—			—
Direxion Daily Cloud Computing Bear 2X Shares		—		—		16,944,225		—		—		4,269,652		—			(1,485,669	)
Direxion Daily Energy Bull 2X Shares		—		418,878,302		101,998,192		—		—		74,476,152		—			—
Direxion Daily Energy Bear 2X Shares		—		—		67,123,824		—		—		—		—			(11,209,896	)
Direxion Daily FinTech Bull 2X Shares		—		2,654,815		919,462		—		—		71,293		—			(22,066	)
Direxion Daily Global Clean Energy Bull 2X Shares		3,769,172		—		1,470,435		—		—		712,937		—			—
Direxion Daily Gold Miners Index Bull 2X Shares		220,599,698		—		285,697,705		—		—		—		—			(81,979,803	)
Direxion Daily Gold Miners Index Bear 2X Shares		—		—		74,066,508		—		—		25,389,920		—			—
Direxion Daily Junior Gold Miners Index Bull 2X Shares		124,844,373		—		244,236,686		—		—		13,381,098		—			(64,824,062	)
Direxion Daily Junior Gold Miners Index Bear 2X Shares		—		—		47,209,280		—		—		13,463,181		—			(348,387	)
Direxion Daily Metal Miners Bull 2X Shares		—		8,897,054		4,385,934		—		—		299,436		—			(1,154,717	)
Direxion Daily Oil Services Bull 2X Shares		—		7,067,127		3,076,426		—		—		362,098		—			(350,606	)
Direxion Daily Robotics, Artificial Intelligence & Automation Index Bull 2X Shares		7,400,229		—		8,785,883		—		—		351,169		—			(4,883,739	)
Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares		—		435,571,413		354,081,130		—		—		284,915,645		—			(7,694	)
Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares		—		—		118,127,426		—		—		390,991		—			(14,808,185	)
Direxion Daily Select Large Caps & FANGs Bull 2X Shares		—		15,806,580		5,735,267		—		—		128,337		—			(208,820	)
Direxion Daily Software Bull 2X Shares		—		2,285,670		781,863		—		—		30,269		—			(73,989	)
Direxion Daily TIPS Bull 2X Shares		6,176,690		—		2,302,264		—		—		26,220		—			—
Direxion Daily TIPS Bear 2X Shares		—		—		7,993,111		—		—		—		—			(453,114	)
Direxion Daily Travel & Vacation Bull 2X Shares		—		20,731,152		6,158,613		—		—		469,505		—			(382,897	)
Direxion Daily US Infrastructure Bull 2X Shares		—		1,728,343		3,126,506		—		—		517,381		—			—
Direxion Daily Mid Cap Bull 3X Shares		29,148,029		—		25,650,693		—		—		3,510,045		—			(2,292,618	)
Direxion Daily S&P 500® Bull 3X Shares		1,933,441,860		—		795,037,691		—		—		251,139,073		—			(21,435,793	)
Direxion Daily S&P 500® Bear 3X Shares		—		—		695,662,470		—		—		14,575,590		—			(58,502,267	)
Direxion Daily Small Cap Bull 3X Shares		679,598,596		—		740,641,456		—		—		98,608,778		—			(45,834,313	)
Direxion Daily Small Cap Bear 3X Shares		—		—		454,570,332		—		—		—		—			(76,688,714	)
Direxion Daily FTSE China Bull 3X Shares		236,074,717		—		287,461,359		—		—		—		—			(83,465,725	)
Direxion Daily FTSE China Bear 3X Shares		—		—		108,860,018		—		—		11,259,034		—			—
Direxion Daily FTSE Europe Bull 3X Shares		8,594,747		—		12,212,664		—		—		1,317,634		—			(2,590,933	)
Direxion Daily MSCI Emerging Markets Bull 3X Shares		4,101,015		—		82,865,454		—		—		1,235,850		—			(8,745,434	)
Direxion Daily MSCI Emerging Markets Bear 3X Shares		—		—		39,802,443		—		—		7,342,893		—			(1,710,324	)
Direxion Daily MSCI Mexico Bull 3X Shares		2,682,950		—		7,075,922		—		—		496,768		—			—
Direxion Daily MSCI South Korea Bull 3X Shares		8,997,064		—		17,779,179		—		—		831,860		—			(4,399,436	)
Direxion Daily Aerospace & Defense Bull 3X Shares		—		123,204,865		72,221,015		—		—		16,172,081		—			—
Direxion Daily Consumer Discretionary Bull 3X Shares		—		21,562,042		12,360,716		—		—		7,925,825		—			—
Direxion Daily Dow Jones Internet Bull 3X Shares		—		81,518,648		72,247,748		—		—		3,780,801		—			(29,879,860	)
Direxion Daily Dow Jones Internet Bear 3X Shares		—		—		61,784,034		—		—		—		—			(8,247,547	)
Direxion Daily Financial Bull 3X Shares		—		1,202,568,244		735,730,986		—		—		17,105,892		—			(156,379	)
Direxion Daily Financial Bear 3X Shares		—		—		186,573,591		—		—		—		—			(1,393,628	)
Direxion Daily Healthcare Bull 3X Shares		—		120,940,709		81,608,069		—		—		17,163,299		—			—
Direxion Daily Homebuilders & Supplies Bull 3X Shares		—		83,954,244		97,358,375		—		—		25,824,393		—			(4,487,720	)
Direxion Daily Industrials Bull 3X Shares		—		16,307,965		9,966,559		—		—		1,271,042		—			(1,689,714	)
Direxion Daily Pharmaceutical & Medical Bull 3X Shares		—		6,917,334		6,853,434		—		—		821,628		—			(186,172	)
Direxion Daily Real Estate Bull 3X Shares		—		38,184,653		26,717,692		—		—		5,537,215		—			(312,792	)
Direxion Daily Real Estate Bear 3X Shares		—		—		119,274,874		—		—		—		—			(22,702,514	)
Direxion Daily Regional Banks Bull 3X Shares		—		146,210,676		86,229,864		—		—		25,981,233		—			—
Direxion Daily Retail Bull 3X Shares		—		27,729,115		25,154,495		—		—		1,893,591		—			(9,662,789	)
Direxion Daily S&P 500® High Beta Bull 3X Shares		—		40,836,442		24,020,438		—		—		9,271,285		—			(354,013	)
Direxion Daily S&P 500® High Beta Bear 3X Shares		—		—		55,275,339		—		—		6,310,578		—			(5,457,409	)
Direxion Daily S&P Biotech Bull 3X Shares		—		546,286,229		555,600,542		—		—		194,124,706		—			(51,290,181	)
Direxion Daily S&P Biotech Bear 3X Shares		—		—		181,256,127		—		—		5,789,572		—			(36,633,804	)
Direxion Daily Semiconductor Bull 3X Shares		—		2,885,372,468		2,310,772,677		—		—		741,649,931		—			(143,134,217	)
Direxion Daily Semiconductor Bear 3X Shares		—		—		508,965,059		—		—		13,705,027		—			(119,084,372	)
Direxion Daily Technology Bull 3X Shares		—		1,116,435,925		799,216,203		—		—		236,035,195		—			(36,943,926	)
Direxion Daily Technology Bear 3X Shares		—		—		159,612,348		—		—		2,144,652		—			(21,732,595	)
Direxion Daily Transportation Bull 3X Shares		—		15,055,759		17,869,671		—		—		—		—			(5,081	)
Direxion Daily Utilities Bull 3X Shares		—		10,778,772		10,546,892		—		—		4,243,961		—			—
Direxion Daily 7-10 Year Treasury Bull 3X Shares		16,541,769		—		10,627,003		—		—		1,136,508		—			(634,080	)
Direxion Daily 7-10 Year Treasury Bear 3X Shares		—		—		55,381,057		—		—		—		—			(3,641,135	)
Direxion Daily 20+ Year Treasury Bull 3X Shares		201,393,037		—		210,404,272		—		—		11,728,535		—			(63,616,273	)
Direxion Daily 20+ Year Treasury Bear 3X Shares		—		—		579,184,528		—		—		29,936,496		—			(43,739,587	)