# EDGAR Filing Document

**Accession Number:** 0001424958
**File Stem:** 0001193125-25-333787
**Filing Date:** 2025-12
**Character Count:** 60568
**Document Hash:** fe220dbd21ff36875b3e32013a4efe56
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-333787.hdr.sgml**: 20251229

**ACCESSION NUMBER**: 0001193125-25-333787

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251229

**DATE AS OF CHANGE**: 20251229

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Direxion Shares ETF Trust
- **CENTRAL INDEX KEY:** 0001424958

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22201
- **FILM NUMBER:** 251605882

**BUSINESS ADDRESS:**
- **STREET 1:** 535 MADISON AVENUE
- **STREET 2:** 37TH FL.
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** 646-572-3390

**MAIL ADDRESS:**
- **STREET 1:** 535 MADISON AVENUE
- **STREET 2:** 37TH FL.
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Direxion ETF Trust
- **DATE OF NAME CHANGE:** 20080124

## Series and Classes Contracts Data

### Direxion Daily Regional Banks Bull 3X Shares (Series ID: S000029341)

| Class ID   | Class Name                                   | Ticker Symbol   |
|:---|:---|:---|
| C000090184 | Direxion Daily Regional Banks Bull 3X Shares | DPST            |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Direxion Shares ETF Trust

- **b. Investment Company Act file number:** 811-22201

- **c. CIK number of Registrant:** 0001424958

- **d. LEI of Registrant:** 549300M501IVJM50FG12

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1301 Avenue of the Americas (6th Avenue)

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10019

  - **Telephone number:** 646-572-3390

**Item A.2. Information about the Series.**

- **a. Name of Series:** Direxion Daily Regional Banks Bull 3X Shares

- **b. EDGAR series identifier (if any):** S000029341

- **c. LEI of Series:** 549300XWNNU2E9NV0884

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-10-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $851704062.60

**Total Liabilities:** $48820961.53

**Net Assets:** $802883101.07

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000090184 | 26.57%               | -9.35%               | -18.41%              |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $9056654.64              | $30041222.29                               |
| Month 2  | $7224436.22              | $-22697155.06                              |
| Month 3  | $-5247213.90             | $-24140851.10                              |

### Schedule of Portfolio Investments

| Name                                        | Title                                                               | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Amalgamated Financial Corp.                 | AMALGAMATED FINANCIAL CORP                                          | CUSIP: 022671101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     39579 | NS      | $1078923.54   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Amerant Bancorp Inc.                        | Amerant Bancorp Inc. COM USD0.10 CL A                               | CUSIP: 023576101<br>LEI: 54930071V6LIG79MTL10 | Long             | EC               | CORP              | US        |     38367 | NS      | $643414.59    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameris Bancorp                              | Ameris Bancorp COM USD1                                             | CUSIP: 03076K108<br>LEI: PBJHNT51T5V6G5UQFV42 | Long             | EC               | CORP              | US        |     78505 | NS      | $5622528.10   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Associated Banc-Corp                        | Associated Banc-Corp COM USD0.01                                    | CUSIP: 045487105<br>LEI: 549300N3CIN473IW5094 | Long             | EC               | CORP              | US        |    280463 | NS      | $6947068.51   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlantic Union Bankshares Corp              | Atlantic Union Bankshares Corp COM USD1.33                          | CUSIP: 04911A107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    239259 | NS      | $7780702.68   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Axos Financial Inc                          | AXOS FINANCIAL INC                                                  | CUSIP: 05465C100<br>LEI: 529900D8M56422GK9O25 | Long             | EC               | CORP              | US        |     67331 | NS      | $5250471.38   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| BOK Financial Corp                          | BOK Financial Corp COM USD0.00006                                   | CUSIP: 05561Q201<br>LEI: GRI2NT5QHYW751NMR949 | Long             | EC               | CORP              | US        |     41214 | NS      | $4310160.12   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| BancFirst Corp.                             | BancFirst Corp. COM USD1                                            | CUSIP: 05945F103<br>LEI: 549300EJEHGBP4IO2J30 | Long             | EC               | CORP              | US        |     21953 | NS      | $2389803.58   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Bancorp Inc                                 | Bancorp Inc COM NPV                                                 | CUSIP: 05969A105<br>LEI: 894500FP2ICT1B019Y71 | Long             | EC               | CORP              | US        |    109320 | NS      | $7146248.40   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Banc Of California Inc.                     | Banc Of California Inc COM USD0.01                                  | CUSIP: 05990K106<br>LEI: 549300ZKWUJDP6LJ1X87 | Long             | EC               | CORP              | US        |    418173 | NS      | $7096395.81   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank First Corp.                            | BANK FIRST CORP                                                     | CUSIP: 06211J100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27780 | NS      | $3392493.60   | 0.42%             |  |  |  | No            |                  1 | On Loan: —       |
| Bank of Hawaii Corp.                        | Bank of Hawaii Corp. COM USD0.01                                    | CUSIP: 062540109<br>LEI: 5493006Q8BQ8AD8M2U33 | Long             | EC               | CORP              | US        |     75576 | NS      | $4907149.68   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank OZK                                    | Bank OZK Little Rock Arkansas COM USD0.01                           | CUSIP: 06417N103<br>LEI: 549300VYK2WBD7SST478 | Long             | EC               | CORP              | US        |    170554 | NS      | $7673224.46   | 0.96%             |  |  |  | No            |                  1 | On Loan: —       |
| BankUnited Inc.                             | BankUnited Inc. COM USD0.01                                         | CUSIP: 06652K103<br>LEI: 96OVUWEW5D4YX6PFXD91 | Long             | EC               | CORP              | US        |    149667 | NS      | $5998653.36   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Banner Corp                                 | Banner Corp COM USD0.01                                             | CUSIP: 06652V208<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     42151 | NS      | $2545498.89   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Beacon Financial Corp.                      | Berkshire Hills Bancorp, Inc. COM USD0.01                           | CUSIP: 084680107<br>LEI: 549300AS2OC6UMMBNO37 | Long             | EC               | CORP              | US        |     95404 | NS      | $2322133.36   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Burke & Herbert Financial Services Corp.    | BURKE & HERBERT FINANCIAL SE                                        | CUSIP: 12135Y108<br>LEI: 549300OS8C7J7ZWMNL70 | Long             | EC               | CORP              | US        |     12061 | NS      | $709910.46    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Byline Bancorp Inc                          | Byline Bancorp Inc COM USD0.01                                      | CUSIP: 124411109<br>LEI: 549300W7ODP4YL2H4823 | Long             | EC               | CORP              | US        |     46053 | NS      | $1231457.22   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| CVB Financial                               | CVB Financial COM NPV                                               | CUSIP: 126600105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    157387 | NS      | $2891199.19   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Bank                                | Cadence Bank COM                                                    | CUSIP: 12740C103<br>LEI: Q7C315HKI8VX0SSKBS64 | Long             | EC               | CORP              | US        |    321860 | NS      | $12146996.40  | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Camden National Corp.                       | Camden National Corp. COM NPV                                       | CUSIP: 133034108<br>LEI: 549300ZVEDL2L8UW4F28 | Long             | EC               | CORP              | US        |     12964 | NS      | $494576.60    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Capitol Fed Fin In                          | CAPITOL FEDERAL FINANCIAL IN                                        | CUSIP: 14057J101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    148964 | NS      | $899742.56    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Cathay General Bancorp                      | Cathay General Bancorp COM USD0.01                                  | CUSIP: 149150104<br>LEI: 549300K1SLJ8C97H5L68 | Long             | EC               | CORP              | US        |     78927 | NS      | $3587232.15   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Central Pacific Financial Corp.             | Central Pacific Financial Corp. COM NEW                             | CUSIP: 154760409<br>LEI: 549300W3YEAOZ4KGG849 | Long             | EC               | CORP              | US        |     32503 | NS      | $926660.53    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Group Inc                | Citizens Financial Group Inc COM USD0.01                            | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |    231531 | NS      | $11777981.97  | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| City Holding Co                             | City Holding Co COM USD2.50                                         | CUSIP: 177835105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21400 | NS      | $2522632.00   | 0.31%             |  |  |  | No            |                  1 | On Loan: —       |
| Coastal Financial Corp.                     | Coastal Financial Corp. COM NPV                                     | CUSIP: 19046P209<br>LEI: 549300XG5L36T6IU0B47 | Long             | EC               | CORP              | US        |     24485 | NS      | $2607652.50   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbia Banking System Inc.                | Columbia Banking System Incorporation COM NPV                       | CUSIP: 197236102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    457500 | NS      | $12261000.00  | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbia Financial Inc.                     | COLUMBIA FINANCIAL INC                                              | CUSIP: 197641103<br>LEI: 254900B9UDXFOJAZKN61 | Long             | EC               | CORP              | US        |     21782 | NS      | $321284.50    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Commerce Bancshares Inc                     | Commerce Bancshares Inc COM USD5                                    | CUSIP: 200525103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    157660 | NS      | $8297645.80   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Community Financial System Inc              | Community Bank System Inc COM USD1                                  | CUSIP: 203607106<br>LEI: 5299008N6YHE6GCP1E80 | Long             | EC               | CORP              | US        |     51688 | NS      | $2867650.24   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Community Trust Bancorp Inc                 | Comm Tr Bancorp COM USD5                                            | CUSIP: 204149108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10404 | NS      | $532632.78    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Connectone Bancorp Inc.                     | Connectone Bancorp Inc. COM NPV                                     | CUSIP: 20786W107<br>LEI: 549300E2M5ZYAZKUK134 | Long             | EC               | CORP              | US        |     58359 | NS      | $1404117.54   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Cullen/Frost Bankers, Inc.                  | Cullen/Frost Bankers, Inc. COM USD0.01                              | CUSIP: 229899109<br>LEI: 529900V2E9G9AY665O34 | Long             | EC               | CORP              | US        |     85422 | NS      | $10518865.08  | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Customers Bancorp, Inc.                     | Customers Bancorp, Inc. COM USD1                                    | CUSIP: 23204G100<br>LEI: 549300WLBCHYKZ53FN68 | Long             | EC               | CORP              | US        |     56117 | NS      | $3766573.04   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Dime Community Bancshares Inc.              | Dime Community Bancshares Inc. COM                                  | CUSIP: 25432X102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     46532 | NS      | $1221465.00   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Bancorp Inc                           | Eagle Bancorp Inc COM USD0.01                                       | CUSIP: 268948106<br>LEI: 549300B47NZODRMG3D47 | Long             | EC               | CORP              | US        |     93557 | NS      | $1567079.75   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| East West Bancorp Inc                       | East West Bancorp Inc COM USD0.001                                  | CUSIP: 27579R104<br>LEI: 254900O4X656YXFOYB11 | Long             | EC               | CORP              | US        |    111082 | NS      | $11285931.20  | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Eastern Bankshares Inc                      | Eastern Bankshares Inc COM                                          | CUSIP: 27627N105<br>LEI: 549300J245MBQU3DO403 | Long             | EC               | CORP              | US        |    305739 | NS      | $5359604.67   | 0.67%             |  |  |  | No            |                  1 | On Loan: —       |
| Enterprise Financial Services Corp.         | Enterprise Financial Services Corp. COM USD0.01                     | CUSIP: 293712105<br>LEI: 5493001XTU5DLD632129 | Long             | EC               | CORP              | US        |     32530 | NS      | $1703596.10   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity Bancshares Inc.                      | EQUITY BANCSHARES INC - CL A                                        | CUSIP: 29460X109<br>LEI: 549300BPQ2EJNU4WF694 | Long             | EC               | CORP              | US        |     14763 | NS      | $598049.13    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Esquire Financial Holdings Inc              | ESQUIRE FINANCIAL HOLDINGS I                                        | CUSIP: 29667J101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21247 | NS      | $1992968.60   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| F N B Corp (Pennsylvania)                   | F N B Corp (Pennsylvania) COM USD0.01                               | CUSIP: 302520101<br>LEI: PCYSKIGYNYFDTBLVZU83 | Long             | EC               | CORP              | US        |    732336 | NS      | $11512321.92  | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| FB Financial Corp.                          | FB Financial Corp. COM USD1.00                                      | CUSIP: 30257X104<br>LEI: 5493000B2LD2C2A6C435 | Long             | EC               | CORP              | US        |     73257 | NS      | $3956610.57   | 0.49%             |  |  |  | No            |                  1 | On Loan: —       |
| Financial Institutions Inc.                 | FINANCIAL INSTITUTIONS INC                                          | CUSIP: 317585404<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27445 | NS      | $780261.35    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| First Bancorp Puerto Rico                   | First Bancorp Puerto Rico COM USD1                                  | CUSIP: 318672706<br>LEI: N/A                  | Long             | EC               | CORP              | PR        |    220305 | NS      | $4293744.45   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| First Bancorp                               | 1ST Bancorp NC COM NPV                                              | CUSIP: 318910106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     45703 | NS      | $2218423.62   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| First Busey Corporation                     | First Busey Corporation COM USD0.001                                | CUSIP: 319383204<br>LEI: 549300X4ZNLYSX7GUY60 | Long             | EC               | CORP              | US        |    111037 | NS      | $2482787.32   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| First Commonwealth Financial Corp PA        | First Commonwealth Financial Corp PA COM USD1                       | CUSIP: 319829107<br>LEI: 549300ZHLQ42NXDETL24 | Long             | EC               | CORP              | US        |    104908 | NS      | $1604043.32   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| First Financial Bancorp.                    | First Financial Bancorp. COM NPV                                    | CUSIP: 320209109<br>LEI: 549300D3F5B3EZMY7P77 | Long             | EC               | CORP              | US        |     80807 | NS      | $1891691.87   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| First Financial Bankshares Inc              | First Financial Bankshares Inc COM USD0.01                          | CUSIP: 32020R109<br>LEI: 549300XN3GTGOENGNV49 | Long             | EC               | CORP              | US        |    113435 | NS      | $3504007.15   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| First Financial Corp.                       | First Financial Corp. (Indiana) COM NPV                             | CUSIP: 320218100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9974 | NS      | $531813.68    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| First Foundation Inc.                       | FIRST FOUNDATION INC                                                | CUSIP: 32026V104<br>LEI: 254900TQZQ6LBCK77E82 | Long             | EC               | CORP              | US        |    141119 | NS      | $767687.36    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| First Horizon Corporation                   | First Horizon Corporation COM USD0.625                              | CUSIP: 320517105<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | EC               | CORP              | US        |    528909 | NS      | $11297496.24  | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| First Hawaiian Inc.                         | First Hawaiian Inc. COM USD0.01                                     | CUSIP: 32051X108<br>LEI: 5493002DJSH46F5OLV06 | Long             | EC               | CORP              | US        |    223542 | NS      | $5483485.26   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| First Interstate Bancsystem Inc.            | First Interstate Bancsystem Inc. COM NPV CL 'A'                     | CUSIP: 32055Y201<br>LEI: 549300WRWYTYX0RCNJ43 | Long             | EC               | CORP              | US        |    163272 | NS      | $5102250.00   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| First Merchants Corporation                 | First Merchants Corporation COM NPV                                 | CUSIP: 320817109<br>LEI: TZTBT0OTGQ2FEK6XMX94 | Long             | EC               | CORP              | US        |     55578 | NS      | $1971907.44   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| 1st Source Corporation                      | 1st Source Corporation COM NPV                                      | CUSIP: 336901103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17040 | NS      | $1012857.60   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Firstsun Cap Bancorp                        | FIRSTSUN CAPITAL BANCORP                                            | CUSIP: 33767U107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24269 | NS      | $826116.76    | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| Flushing Financial Corp.                    | Flushing Financial Corp. COM USD0.01                                | CUSIP: 343873105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     48835 | NS      | $667574.45    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Fulton Financial Corporation                | Fulton Financial Corporation COM USD2.50                            | CUSIP: 360271100<br>LEI: 5493005QLZ6O1BNC0C11 | Long             | EC               | CORP              | US        |    307262 | NS      | $5337140.94   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Glacier Bancorp Inc.                        | Glacier Bancorp Inc. COM USD0.01                                    | CUSIP: 37637Q105<br>LEI: 549300SMJAUKZB5D7V74 | Long             | EC               | CORP              | US        |    154314 | NS      | $6303726.90   | 0.79%             |  |  |  | No            |                  1 | On Loan: —       |
| Great Southern Bancorp Inc.                 | Great Southern Bancorp Inc. COM USD0.01                             | CUSIP: 390905107<br>LEI: 5493000ZL7DLNMN1AB26 | Long             | EC               | CORP              | US        |      9924 | NS      | $552766.80    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Hancock Whitney Corporation                 | Hancock Whitney Corporation COM USD3.33                             | CUSIP: 410120109<br>LEI: 549300GRNBWY8HIICT41 | Long             | EC               | CORP              | US        |    139466 | NS      | $7964903.26   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanmi Financial Corp.                       | Hanmi Financial Corp. COM USD0.001                                  | CUSIP: 410495204<br>LEI: 549300MSZ7RCG7EA6587 | Long             | EC               | CORP              | US        |     29851 | NS      | $788066.40    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Harborone Bancorp Inc New                   | Harborone Bancorp Inc New COM USD0.01                               | CUSIP: 41165Y100<br>LEI: 549300CNOEY2QUB7F917 | Long             | EC               | CORP              | US        |     52334 | NS      | $633241.40    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Heritage Commerce Corp.                     | Heritage Commerce Corp. COM NPV                                     | CUSIP: 426927109<br>LEI: 549300CLIS851ELSR406 | Long             | EC               | CORP              | US        |    101373 | NS      | $1054279.20   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Heritage Financial Corp.                    | Heritage Financial COM NPV                                          | CUSIP: 42722X106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32407 | NS      | $719111.33    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilltop Holdings Inc                        | Hilltop Holdings Inc COM STK USD0.01                                | CUSIP: 432748101<br>LEI: 54930010TA543US0PM65 | Long             | EC               | CORP              | US        |     82037 | NS      | $2649795.10   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Hingham Institution for Savings             | HINGHAM INSTITUTION FOR SVGS                                        | CUSIP: 433323102<br>LEI: 2549009GDCGUR2T6KU55 | Long             | EC               | CORP              | US        |      6794 | NS      | $1999202.44   | 0.25%             |  |  |  | No            |                  1 | On Loan: —       |
| Home BancShares Inc.                        | Home BancShares Inc. COM USD0.01                                    | CUSIP: 436893200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    200194 | NS      | $5347181.74   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Hope Bancorp Inc                            | Hope Bancorp Inc COM USD0.001                                       | CUSIP: 43940T109<br>LEI: 549300UTF4QGMBHIZ219 | Long             | EC               | CORP              | US        |    172395 | NS      | $1808423.55   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Horizon Bancorp Inc.                        | Horizon Bancorp Inc. COM USD0.01                                    | CUSIP: 440407104<br>LEI: 549300U2OQ2EIT5MXG39 | Long             | EC               | CORP              | US        |     36664 | NS      | $571958.40    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Bancshares Incorporated          | Huntington Bancshares Incorporated COM USD0.01                      | CUSIP: 446150104<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EC               | CORP              | US        |    679257 | NS      | $10487728.08  | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Independent Bank Corp.                      | Independent Bank Corp. COM USD0.01                                  | CUSIP: 453836108<br>LEI: 549300C5K3W8THR3GE10 | Long             | EC               | CORP              | US        |     69762 | NS      | $4694284.98   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Independent Bank Corp Michigan              | Independent Bank Corp Michigan COM USD1                             | CUSIP: 453838609<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15255 | NS      | $461006.10    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| International Bancshares Corp               | International Bancshares Corp COM USD1                              | CUSIP: 459044103<br>LEI: 549300Y16R531AU8TX77 | Long             | EC               | CORP              | US        |     41654 | NS      | $2764992.52   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Kearny Financial Corp.                      | KEARNY FINANCIAL CORP/MD                                            | CUSIP: 48716P108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     73422 | NS      | $469166.58    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Lakeland Financial Corp.                    | Lakeland Financial Corp. COM NPV                                    | CUSIP: 511656100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29991 | NS      | $1710986.55   | 0.21%             |  |  |  | No            |                  1 | On Loan: —       |
| Live Oak Bancshares Inc                     | Live Oak Bancshares Inc COM NPV                                     | CUSIP: 53803X105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     45780 | NS      | $1425589.20   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| M&T Bank Corporation                        | M&T Bank Corporation COM USD0.50                                    | CUSIP: 55261F104<br>LEI: 549300WYXDDBYRASEG81 | Long             | EC               | CORP              | US        |     60533 | NS      | $11130202.71  | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercantile Bank Corp.                       | Mercantile Bank Corp. COM NPV                                       | CUSIP: 587376104<br>LEI: P16VZZCKTJ5IONL6XE37 | Long             | EC               | CORP              | US        |     15102 | NS      | $662222.70    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Pathward Financial Inc                      | Pathward Financial Inc COM USD0.01                                  | CUSIP: 59100U108<br>LEI: 5493004X52BH1NBLW813 | Long             | EC               | CORP              | US        |     38455 | NS      | $2617247.30   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Metropolitan Bank Holding Corp              | Metropolitan Bank Holding Corp COM USD0.01                          | CUSIP: 591774104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15851 | NS      | $1050445.77   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Mid Penn Bancorp Inc.                       | MID PENN BANCORP INC                                                | CUSIP: 59540G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18583 | NS      | $528686.35    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Midland States Bancorp Inc.                 | Midland States Bancorp Inc. COM USD0.01                             | CUSIP: 597742105<br>LEI: 5493006RHXW9TTBWYC94 | Long             | EC               | CORP              | US        |     26250 | NS      | $384300.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| MidWestOne Financial Group Inc.             | MIDWESTONE FINANCIAL GROUP I                                        | CUSIP: 598511103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23000 | NS      | $850770.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| NBT Bancorp Inc                             | NBT Bancorp Inc COM USD0.01                                         | CUSIP: 628778102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     39984 | NS      | $1618152.48   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| National Bank Holdings Corp                 | National Bank Holdings Corp COM USD0.01                             | CUSIP: 633707104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     59245 | NS      | $2112676.70   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| NB Bancorp Inc.                             | NB BANCORP INC                                                      | CUSIP: 63945M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     59312 | NS      | $1071767.84   | 0.13%             |  |  |  | No            |                  1 | On Loan: —       |
| Flagstar Bank National Association          | NEW YORK COMMUNITY BANCORP                                          | CUSIP: 649445400<br>LEI: SS1TRMSN6BRNMOREEV51 | Long             | EC               | CORP              | US        |    950528 | NS      | $10855029.76  | 1.35%             |  |  |  | No            |                  1 | On Loan: —       |
| Nicolet Bankshares Inc.                     | Nicolet Bankshares Inc. COM USD0.01                                 | CUSIP: 65406E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15082 | NS      | $1781787.48   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Northeast Bank                              | NORTHEAST BANK                                                      | CUSIP: 66405S100<br>LEI: 549300F0LV9TSW34E306 | Long             | EC               | CORP              | US        |     18212 | NS      | $1571331.36   | 0.20%             |  |  |  | No            |                  1 | On Loan: —       |
| Northfield Bancorp Inc.                     | NORTHFIELD BANCORP INC                                              | CUSIP: 66611T108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     38996 | NS      | $398539.12    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Northrim BanCorp Inc.                       | NORTHRIM BANCORP INC                                                | CUSIP: 666762109<br>LEI: 5493006X7RLLTZ3SG075 | Long             | EC               | CORP              | US        |     47928 | NS      | $1053457.44   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwest Bancshares Inc                    | Northwest Bancshares Inc COM USD0.01                                | CUSIP: 667340103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    169085 | NS      | $1979985.35   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| OFG Bancorp                                 | OFG Bancorp COM USD1                                                | CUSIP: 67103X102<br>LEI: 549300Q4QEXJ37LEXQ06 | Long             | EC               | CORP              | PR        |     50308 | NS      | $1944907.28   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| OceanFirst Financial Corp.                  | OceanFirst Financial Corp. COM USD0.01                              | CUSIP: 675234108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     62083 | NS      | $1128668.94   | 0.14%             |  |  |  | No            |                  1 | On Loan: —       |
| Old National Bancorp                        | Old National Bancorp COM NPV                                        | CUSIP: 680033107<br>LEI: 549300MMK90CL5KMVX16 | Long             | EC               | CORP              | US        |    533378 | NS      | $10896912.54  | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Second Bancorp Inc.                     | Old Second Bancorp Inc. COM USD1                                    | CUSIP: 680277100<br>LEI: 549300XVJC1MPUT81C04 | Long             | EC               | CORP              | US        |     41407 | NS      | $743255.65    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Origin Bancorp Inc                          | Origin Bancorp Inc. COM USD5                                        | CUSIP: 68621T102<br>LEI: 54930055DO2Z4KO3NB45 | Long             | EC               | CORP              | US        |     28022 | NS      | $971242.52    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Orrstown Financial Services Inc.            | ORRSTOWN FINL SERVICES INC                                          | CUSIP: 687380105<br>LEI: 5493008IR3FINUFGVM95 | Long             | EC               | CORP              | US        |     29467 | NS      | $980661.76    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Park National Corp                          | Park National Corp COM NPV                                          | CUSIP: 700658107<br>LEI: 5493001T01TDELV5OO63 | Long             | EC               | CORP              | US        |     12490 | NS      | $1900853.10   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Peapack-Gladstone Financial Corp.           | Peapack-Gladstone Financial Corp. COM NPV                           | CUSIP: 704699107<br>LEI: 549300G8DN2UK8K0ET30 | Long             | EC               | CORP              | US        |     18475 | NS      | $467417.50    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Peoples Bancorp Inc. (Ohio)                 | Peoples Bancorp Inc. COM NPV                                        | CUSIP: 709789101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     33657 | NS      | $962590.20    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle Financial Partners Inc.            | Pinnacle Financial Partners Inc COM USD1.00                         | CUSIP: 72346Q104<br>LEI: 54930098EZ8JMSAZGS24 | Long             | EC               | CORP              | US        |    122793 | NS      | $10463191.53  | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Popular, Inc.                               | Popular, Inc. COM USD0.01                                           | CUSIP: 733174700<br>LEI: 5493008CARDZMVQ3LO89 | Long             | EC               | CORP              | PR        |     95996 | NS      | $10700674.12  | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Preferred Bank                              | Preferred Bank COM STK NPV                                          | CUSIP: 740367404<br>LEI: 5493007K6HGI9G0ECX16 | Long             | EC               | CORP              | US        |     15268 | NS      | $1377937.00   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Prosperity Bancshares Inc                   | Prosperity Bancshares Inc COM USD1                                  | CUSIP: 743606105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    178189 | NS      | $11728399.98  | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Provident Financial Services Inc.           | PROVIDENT FINANCIAL SERVICES                                        | CUSIP: 74386T105<br>LEI: 529900JOSO3SXEDVE477 | Long             | EC               | CORP              | US        |    121238 | NS      | $2217443.02   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| QCR Holdings Inc.                           | QCR Holdings Inc. COM USD1                                          | CUSIP: 74727A104<br>LEI: 549300MWKWM7KWJVQO33 | Long             | EC               | CORP              | US        |     20431 | NS      | $1519862.09   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Regions Financial Corporation               | Regions Financial Corporation COM STK USD0.01                       | CUSIP: 7591EP100<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EC               | CORP              | US        |    443627 | NS      | $10735773.40  | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Renasant Corp.                              | Renasant Corporation COM USD5                                       | CUSIP: 75970E107<br>LEI: 549300OVE6OZHW2UUH81 | Long             | EC               | CORP              | US        |    118877 | NS      | $3997833.51   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| S&T Bancorp Inc                             | S&T Bancorp Inc COM USD2.50                                         | CUSIP: 783859101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28181 | NS      | $1032551.84   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Seacoast Banking Corporation Of Florida     | Seacoast Banking Corporation Of Florida COM USD0.10                 | CUSIP: 811707801<br>LEI: 549300V6IC06XYQYPG88 | Long             | EC               | CORP              | US        |    121695 | NS      | $3687358.50   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| ServisFirst Bancshares Inc.                 | ServisFirst Bancshares, Inc. COM USD0.001                           | CUSIP: 81768T108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     43608 | NS      | $3064334.16   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Shore Bancshares Inc.                       | SHORE BANCSHARES INC                                                | CUSIP: 825107105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     26870 | NS      | $419440.70    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Simmons First National Corp                 | Simmons First National Corp CLASS'A'COM USD1                        | CUSIP: 828730200<br>LEI: 549300IVR5AJKUVOGN05 | Long             | EC               | CORP              | US        |    171012 | NS      | $2972188.56   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Southside Bancshares Inc.                   | Southside Bancshares Inc. COM USD1.25                               | CUSIP: 84470P109<br>LEI: 549300TC83207VQA2K65 | Long             | EC               | CORP              | US        |     23129 | NS      | $650387.48    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Southstate Bank Corp.                       | SOUTHSTATE BANK CORP                                                | CUSIP: 84472E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    118301 | NS      | $10487383.65  | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Stellar Bancorp Inc                         | Stellar Bancorp Inc COM                                             | CUSIP: 858927106<br>LEI: 54930070P8Z0WHFBB536 | Long             | EC               | CORP              | US        |     55587 | NS      | $1635925.41   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Stock Yards Bancorp Inc.                    | STOCK YARDS BANCORP INC                                             | CUSIP: 861025104<br>LEI: 549300YERP9H5TDIQW16 | Long             | EC               | CORP              | US        |     25025 | NS      | $1627125.50   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Synovus Financial Corp.                     | Synovus Financial Corp. COM USD1.00                                 | CUSIP: 87161C501<br>LEI: 549300EIUS8UN5JTLE54 | Long             | EC               | CORP              | US        |    233470 | NS      | $10422100.80  | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| TFS Financial Corp                          | TFS FINANCIAL CORP                                                  | CUSIP: 87240R107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     68259 | NS      | $907844.70    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Capital Bancshares, Inc.              | Texas Capital Bancshares, Inc. COM USD0.01                          | CUSIP: 88224Q107<br>LEI: 549300466Q2SXRX0YM48 | Long             | EC               | CORP              | US        |     89672 | NS      | $7518100.48   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Third Coast Bancshares Inc.                 | THIRD COAST BANCSHARES INC                                          | CUSIP: 88422P109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10594 | NS      | $389329.50    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Tompkins Financial Corp.                    | Tompkins Financial Corp. COM USD0.10                                | CUSIP: 890110109<br>LEI: 254900QDQ6V0QJ0Z2348 | Long             | EC               | CORP              | US        |      8804 | NS      | $558701.84    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| TowneBank (Portsmouth Virginia)             | TowneBank (Portsmouth Virginia) COM STK NPV                         | CUSIP: 89214P109<br>LEI: 54930039UO39UJGI7078 | Long             | EC               | CORP              | US        |     56759 | NS      | $1845235.09   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| TriCo Bancshares                            | TriCo Bancshares COM NPV                                            | CUSIP: 896095106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19262 | NS      | $851958.26    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Triumph Financial Inc                       | Triumph Financial Inc COM USD0.01                                   | CUSIP: 89679E300<br>LEI: 5493003RNRMEVYDZ1Q52 | Long             | EC               | CORP              | US        |     41917 | NS      | $2282799.82   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Truist Financial Corp.                      | Truist Financial Corporation COM                                    | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |    265860 | NS      | $11865331.80  | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Trustco Bank Corp NY                        | TRUSTCO BANK CORP NY                                                | CUSIP: 898349204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17518 | NS      | $660603.78    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Trustmark Corp                              | Trustmark Corp COM NPV                                              | CUSIP: 898402102<br>LEI: 5493000HPQ4D2RZ79739 | Long             | EC               | CORP              | US        |     55375 | NS      | $2061057.50   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB Financial Corp.                         | UMB Financial Corp. COM USD1                                        | CUSIP: 902788108<br>LEI: 549300MGEH3N3CUCV828 | Long             | EC               | CORP              | US        |     98334 | NS      | $10509937.92  | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| United Community Banks Inc.(South Carolina) | United Community Banks Inc COM CAP USD1                             | CUSIP: 90984P303<br>LEI: 549300GVW0FV66X3U703 | Long             | EC               | CORP              | US        |    131778 | NS      | $3847917.60   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| United Bankshares Inc                       | United Bankshares Inc COM USD2.50                                   | CUSIP: 909907107<br>LEI: 5299005O3BAMJ9Z92V62 | Long             | EC               | CORP              | US        |    147291 | NS      | $5271544.89   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Univest Financial Corp.                     | Univest Financial Corp. COM USD5                                    | CUSIP: 915271100<br>LEI: 4WII2HCR8UEWNU03U507 | Long             | EC               | CORP              | US        |     22519 | NS      | $661157.84    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Valley National Bancorp.                    | Valley National Bancorp COM NPV                                     | CUSIP: 919794107<br>LEI: 549300ET52S1UBIB9762 | Long             | EC               | CORP              | US        |   1120045 | NS      | $12174889.15  | 1.52%             |  |  |  | No            |                  1 | On Loan: —       |
| WSFS Financial Corporation                  | WSFS FINANCIAL CORP                                                 | CUSIP: 929328102<br>LEI: 549300SU7VQHD6QRG886 | Long             | EC               | CORP              | US        |     70548 | NS      | $3674845.32   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| WaFd Inc                                    | Washington Federal Inc COM USD1                                     | CUSIP: 938824109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     92570 | NS      | $2687307.10   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Washington Trust Bancorp Inc.               | Washington Trust Bancorp Inc. COM USD0.0625                         | CUSIP: 940610108<br>LEI: J66MZFCNJPP3PERHZW54 | Long             | EC               | CORP              | US        |     27064 | NS      | $737223.36    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Webster Financial Corp.                     | Webster Financial Corp. COM USD0.01                                 | CUSIP: 947890109<br>LEI: KMRURHT0VWKYS6Z5KU67 | Long             | EC               | CORP              | US        |    194546 | NS      | $11096903.84  | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Wesbanco Inc                                | Wesbanco Inc COM USD2.0833                                          | CUSIP: 950810101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    109656 | NS      | $3300645.60   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Westamerica Bancorp                         | Westamerica Bancorp COM NPV                                         | CUSIP: 957090103<br>LEI: 984500CF4F8115C11D96 | Long             | EC               | CORP              | US        |     27494 | NS      | $1310089.10   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Alliance Bancorp                    | Western Alliance Bancorporation COM USD0.0001                       | CUSIP: 957638109<br>LEI: 5493003VJXZ5JXT9S762 | Long             | EC               | CORP              | US        |    135116 | NS      | $10451222.60  | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Wintrust Financial Corporation              | Wintrust Financial Corporation COM NPV                              | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |     80122 | NS      | $10417462.44  | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Zions Bancorporation Natl Assn Global Bank  | Zions Bancorporation Natl Assn Global Bank COM USD0.001             | CUSIP: 989701107<br>LEI: 8WH0EE09O9V05QJZ3V89 | Long             | EC               | CORP              | US        |    206894 | NS      | $10781246.34  | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| DREYFUS GOVERNMENT CASH MANAGE              | DREYFUS GOV'T CASH MGMT -INSTITUTIONAL CUSIP 262006208 DGCXX (#289) | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |  50714322 | PA      | $50714322.12  | 6.32%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN FINANCIAL                           | GOLDMAN FINL SQ TRSRY INST 506                                      | CUSIP: N/A<br>LEI: 549300DAH6N80PM31E83       | Long             | STIV             | RF                | US        | 108028965 | PA      | $108028964.73 | 13.46%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                         | S&P REGIONAL BANKS SELECT INDUSRTY INDEX SWAP                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         1 | NC      | $28373884.40  | 3.53%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                         | S&P REGIONAL BANKS SELECT INDUSRTY INDEX SWAP                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         1 | NC      | $20784037.64  | 2.59%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                         | S&P REGIONAL BANKS SELECT INDUSRTY INDEX SWAP                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         1 | NC      | $677088.62    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                         | S&P REGIONAL BANKS SELECT INDUSRTY INDEX SWAP                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         1 | NC      | $-10286726.34 | -1.28%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                         | S&P REGIONAL BANKS SELECT INDUSRTY INDEX SWAP                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         1 | NC      | $856830.56    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                         | S&P REGIONAL BANKS SELECT INDUSRTY INDEX SWAP                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         1 | NC      | $-12584209.57 | -1.57%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                         | S&P REGIONAL BANKS SELECT INDUSRTY INDEX SWAP                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         1 | NC      | $-5432888.54  | -0.68%            |  |  |  | No            |                  2 | On Loan: No      |
| DREYFUS                                     | DREYFUS TRSRY SECURITIES CASH MGMT                                  | CUSIP: S99991620<br>LEI: N/A                  | Long             | STIV             | RF                | US        |  96935420 | PA      | $96935420.30  | 12.07%            |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS LIQ ES FD A                   | GOLDMAN SACHS FIN GOV 465 INSTITUT                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |  15127677 | PA      | $15127676.60  | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-07

**Name of Applicant:** Direxion Shares ETF Trust

**Signature:** Patrick Rudnick

**Name of Signer:** Patrick Rudnick

**Title:** Principal Executive Officer