Direxion Funds NPORT-P Direxion Monthly 7-10 Year Treasury Bear 1.75X Fund (Nov 2024 report)

Direxion Monthly High Yield Bull 1.2X Fund

Schedule of Investments (Unaudited)

November 30, 2024

Shares		Fair Value
INVESTMENT COMPANIES - 79.5%
88,911	iShares iBoxx High Yield Corporate Bond ETF (a)	$	7,116,436
73,120	SPDR Bloomberg High Yield Bond ETF (a)		7,118,963
	TOTAL INVESTMENT COMPANIES (Cost $13,198,887)	$	14,235,399
SHORT TERM INVESTMENTS - 5.7%
Money Market Funds - 5.7%
1,020,000	Invesco Government & Agency Portfolio Institutional Shares, 4.57% (b)(c)	$	1,020,000
	TOTAL SHORT TERM INVESTMENTS (Cost $1,020,000)	$	1,020,000
	TOTAL INVESTMENTS (Cost $14,218,887) - 85.2%	$	15,255,399
	Other Assets in Excess of Liabilities - 14.8%		2,655,095
	TOTAL NET ASSETS - 100.0%	$	17,910,494

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 November 30, 2024.

^(c) All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $1,020,000.

Long Total Return Swap Contracts (Unaudited)

November 30, 2024

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 PIMCO 0-5 Year High Yield Corporate Bond Index ETF	5.0800% representing 1 month SOFR rate + spread	UBS Securities LLC	10/9/2025		74,591	$	7,046,877	$	58,463

Direxion Monthly NASDAQ-100^® Bull 1.25X Fund

Schedule of Investments (Unaudited)

November 30, 2024

Shares		Fair Value
INVESTMENT COMPANIES - 50.7%
11,149	Invesco QQQ Trust Series 1 (a)	$	5,683,091
	TOTAL INVESTMENT COMPANIES (Cost $4,968,361)	$	5,683,091
SHORT TERM INVESTMENTS - 12.4%
Money Market Funds - 12.4%
1,344,081	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 4.49% (b)(c)	$	1,344,081
50,000	Invesco Government & Agency Portfolio Institutional Shares, 4.57% (b)(c)		50,000
	TOTAL SHORT TERM INVESTMENTS (Cost $1,394,081)	$	1,394,081
	TOTAL INVESTMENTS (Cost $6,362,442) - 63.1%	$	7,077,172
	Other Assets in Excess of Liabilities - 36.9%		4,128,434
	TOTAL NET ASSETS - 100.0%	$	11,205,607

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 November 30, 2024.

^(c)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $1,394,081.

Long Total Return Swap Contracts (Unaudited)

November 30, 2024

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 NASDAQ-100® Index	5.6300% representing 1 month SOFR rate + spread	Bank of America Merrill Lynch		12/11/2024		329	$	6,620,905	$	229,210
Total return of NASDAQ-100® Index	5.3800% representing 1 month SOFR rate + spread	UBS Securities LLC		12/17/2024		69		1,254,243		158,636
							$	7,875,148	$	387,846

Direxion Monthly NASDAQ-100^® Bull 1.75X Fund

Schedule of Investments (Unaudited)

November 30, 2024

Shares		Fair Value
INVESTMENT COMPANIES - 55.5%
529,737	Invesco QQQ Trust Series 1 (a)	$	270,028,138
	TOTAL INVESTMENT COMPANIES (Cost $163,072,788)	$	270,028,138
SHORT TERM INVESTMENTS - 11.1%
Money Market Funds - 11.1%
53,957,830	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 4.49% (b)(c)	$	53,957,830
	TOTAL SHORT TERM INVESTMENTS (Cost $53,957,830)	$	53,957,830
	TOTAL INVESTMENTS (Cost $217,030,618) - 66.6%	$	323,985,968
	Other Assets in Excess of Liabilities - 33.4%		162,542,503
	TOTAL NET ASSETS - 100.0%	$	486,528,471

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 November 30, 2024.

^(c)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $53,957,830.

Long Total Return Swap Contracts (Unaudited)

November 30, 2024

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 NASDAQ-100® Index	5.6300% representing 1 month SOFR rate + spread	Bank of America Merrill Lynch	12/11/2024		14,294	$	290,690,239	$	3,759,491
Total return of NASDAQ-100® Index	5.3800% representing 1 month SOFR rate + spread	UBS Securities LLC	12/17/2024		13,492		223,459,496		47,918,387
						$	514,149,735	$	51,677,878

Direxion Monthly S&P 500^® Bull 1.75X Fund

Schedule of Investments (Unaudited)

November 30, 2024

Shares		Fair Value
INVESTMENT COMPANIES - 54.9%
114,865	iShares Core S&P 500 ETF (a)	$	69,501,366
	TOTAL INVESTMENT COMPANIES (Cost $46,873,947)	$	69,501,366
SHORT TERM INVESTMENTS - 19.4%
Money Market Funds - 19.4%
17,160,000	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 4.49% (b)(c)	$	17,160,000
7,400,000	Invesco Government & Agency Portfolio Institutional Shares, 4.57% (b)(c)		7,400,000
	TOTAL SHORT TERM INVESTMENTS (Cost $24,560,000)	$	24,560,000
	TOTAL INVESTMENTS (Cost $71,433,947) - 74.3%	$	94,061,366
	Other Assets in Excess of Liabilities - 25.7%		32,497,824
	TOTAL NET ASSETS - 100.0%	$	126,559,190

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 November 30, 2024.

^(c)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $24,560,000.

Long Total Return Swap Contracts (Unaudited)

November 30, 2024

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 500® Index	5.6300% representing 1 month SOFR rate + spread	Bank of America Merrill Lynch	12/11/2024		14,242	$	75,618,972	$	8,685,226
Total return of S&P 500® Index	5.3700% representing 1 month SOFR rate + spread	UBS Securities LLC	12/17/2024		10,963		64,608,179		1,271,200
						$	140,227,151	$	9,956,426

Direxion Monthly Small Cap Bull 1.75X Fund

Schedule of Investments (Unaudited)

November 30, 2024

Shares		Fair Value
INVESTMENT COMPANIES - 46.6%
33,156	iShares Russell 2000 ETF (a)	$	8,019,442
	TOTAL INVESTMENT COMPANIES (Cost $6,127,156)	$	8,019,442
SHORT TERM INVESTMENTS - 18.8%
Money Market Funds - 18.8%
1,671,941	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 4.49% (b)(c)	$	1,671,941
1,560,000	Invesco Government & Agency Portfolio Institutional Shares, 4.57% (b)(c)		1,560,000
	TOTAL SHORT TERM INVESTMENTS (Cost $3,231,941)	$	3,231,941
	TOTAL INVESTMENTS (Cost $9,359,097) - 65.4%	$	11,251,383
	Other Assets in Excess of Liabilities - 34.6%		5,954,016
	TOTAL NET ASSETS - 100.0%	$	17,205,399

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 November 30, 2024.

^(c)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $3,231,941.

Long Total Return Swap Contracts (Unaudited)

November 30, 2024

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 Russell 2000® Index	5.3800% representing 1 month SOFR rate + spread	Bank of America Merrill Lynch	12/11/2024		4,402	$	10,718,274	$	90,751
Total return of Russell 2000® Index	5.1800% representing 1 month SOFR rate + spread	UBS Securities LLC	12/17/2024		4,673		11,191,919		162,743
						$	21,910,193	$	253,494

Direxion Monthly 7-10 Year Treasury Bull 1.75X Fund

Schedule of Investments (Unaudited)

November 30, 2024

Shares		Fair Value
INVESTMENT COMPANIES - 54.8%
36,722	iShares 7-10 Year Treasury Bond ETF (a)	$	3,495,567
	TOTAL INVESTMENT COMPANIES (Cost $3,406,675)	$	3,495,567
SHORT TERM INVESTMENTS - 20.3%
Money Market Funds - 20.3%
390,000	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 4.49% (b)(c)	$	390,000
901,472	Invesco Government & Agency Portfolio Institutional Shares, 4.57% (b)(c)		901,472
	TOTAL SHORT TERM INVESTMENTS (Cost $1,291,472)	$	1,291,472
	TOTAL INVESTMENTS (Cost $4,698,147) - 75.1%	$	4,787,039
	Other Assets in Excess of Liabilities - 24.9%		1,589,996
	TOTAL NET ASSETS - 100.0%	$	6,377,035

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 November 30, 2024.

^(c)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $1,291,472.

Long Total Return Swap Contracts (Unaudited)

November 30, 2024

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	5.4300% representing 1 month SOFR rate + spread	Bank of America Merrill Lynch	12/11/2024		22,780	$	2,136,324	$	27,504
Total return of iShares 7-10 Year Treasury Bond ETF	5.3600% representing 1 month SOFR rate + spread	UBS Securities LLC	12/17/2024		57,775		5,432,717		(12,241)
						$	7,569,041	$	15,263

Direxion Monthly 7-10 Year Treasury Bear 1.75X Fund

Schedule of Investments (Unaudited)

November 30, 2024

Shares		Fair Value
SHORT TERM INVESTMENTS - 39.1%
Money Market Funds - 39.1%
1,140,000	Goldman Sachs Financial Square Treasury Instruments Fund Institutional Shares, 4.49% (a)(b)	$	1,140,000
190,000	Invesco Government & Agency Portfolio Institutional Shares, 4.57% (a)(b)		190,000
	TOTAL SHORT TERM INVESTMENTS (Cost $1,330,000)	$	1,330,000
	TOTAL INVESTMENTS (Cost $1,330,000) - 39.1%	$	1,330,000
	Other Assets in Excess of Liabilities - 60.9%		2,074,977
	TOTAL NET ASSETS - 100.0%	$	3,404,977

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 November 30, 2024.

^(b)  All or a portion of these securities have been segregated as collateral for swap contracts. Total value of securities segregated amounted to $1,330,000.

Short Total Return Swap Contracts (Unaudited)

November 30, 2024

Terms of Payments to be Received at Termination	Terms of Payments to be Paid at Termination	Counterparty	Termination Date	Contracts		Notional Amount		Unrealized  Appreciation
5.2300% representing 1 month SOFR rate + spread	Total return of iShares 7-10 Year Treasury Bond ETF	Bank of America Merrill Lynch	12/11/2024		46,670	$	4,426,147	$	27,316
4.6800% representing 1 month SOFR rate + spread	Total return of iShares 7-10 Year Treasury Bond ETF	UBS Securities LLC	12/17/2024		15,887		1,518,308		15,586
						$	5,944,455	$	42,902

Hilton Tactical Income Fund

Schedule of Investments (Unaudited)

November 30, 2024

Shares/Principal		Fair Value
INVESTMENT COMPANIES - 36.2%
66,010	Alerian MLP ETF (a)	$	3,387,633
33,820	Ares Capital Corp. (a)		749,113
41,360	Golub Capital BDC, Inc.(a)		648,111
58,130	iShares 0-5 Year High Yield Corporate Bond ETF (a)		2,517,029
41,670	iShares MBS ETF (a)		3,914,063
168,790	iShares Preferred & Income Securities ETF (a)		5,561,631
160,990	Janus Henderson AAA CLO ETF (a)		8,204,050
51,240	Janus Henderson B-BBB CLO ETF (a)		2,531,768
103,650	JPMorgan Nasdaq Equity Premium Income ETF (a)		5,917,379
75,695	Simplify MBS ETF (a)		3,815,785
105,445	SPDR Blackstone Senior Loan ETF (a)		4,437,126
33,770	Utilities Select Sector SPDR Fund (a)		2,800,546
22,975	Vanguard Short-Term Corporate Bond ETF (a)		1,806,984
	TOTAL INVESTMENT COMPANIES (Cost $43,652,410)	$	46,291,218
COMMON STOCKS - 36.0%
Aerospace & Defense - 0.5%
2,045	General Dynamics Corp.	$	580,800
Banks - 2.9%
20,005	Bank of America Corp.		950,438
2,970	Cullen/Frost Bankers, Inc.		417,641
3,965	JPMorgan Chase & Co.		990,140
17,355	Wells Fargo & Co.		1,321,930
			3,680,149
Beverages - 0.9%
17,000	The Coca-Cola Co.		1,089,360
Biotechnology - 0.4%
2,010	Amgen, Inc.		568,569
Capital Markets - 3.6%
11,815	3i Group PLC (United Kingdom)		283,914
7,390	Ares Management Corp.		1,306,035
4,575	Blackstone, Inc.		874,237
33,035	Blue Owl Capital, Inc.		783,921
2,255	The Goldman Sachs Group, Inc.		1,372,325
			4,620,432
Commercial Services & Supplies - 1.0%
6,129	Republic Services, Inc.		1,337,961
Consumer Staples Distribution & Retail - 1.2%
17,245	Walmart, Inc.		1,595,162
Electrical Equipment - 0.5%
13,090	Schneider Electric SE (France)		675,051
Financial Services - 1.6%
7,820	Apollo Global Management, Inc.		1,368,734
7,490	Fidelity National Information Services, Inc.		638,897
			2,007,631
Food Products - 0.4%
6,395	McCormick & Co., Inc.		501,432
Health Care Providers & Services - 1.4%
5,550	Quest Diagnostics, Inc.		902,763
1,545	UnitedHealth Group, Inc.		942,759
			1,845,522
Health Care REITs - 0.4%
17,260	American Healthcare REIT, Inc.		514,521
Hotels, Restaurants & Leisure - 1.4%
3,320	Darden Restaurants, Inc.		585,216
3,905	McDonald’s Corp.		1,155,919
			1,741,135
Industrial Conglomerates - 0.3%
1,725	Honeywell International, Inc.		401,804
Industrial REITs - 0.7%
7,305	Prologis, Inc.		853,078
Interactive Media & Services - 1.3%
2,830	Meta Platforms, Inc.		1,625,326
IT Services - 3.3%
3,185	Accenture PLC (Ireland)		1,154,149
8,335	Booz Allen Hamilton Holding Corp.		1,235,080
2,690	International Business Machines Corp.		611,733
7,590	Thomson Reuters Corp.		1,234,058
			4,235,020

Machinery - 0.5%
5,040	Xylem, Inc.		638,820
Pharmaceuticals - 2.3%
16,955	AstraZeneca PLC (United Kingdom)		1,146,497
1,660	Eli Lilly & Co.		1,320,281
4,530	Merck & Co., Inc.		460,429
			2,927,207
Residential REITs - 1.6%
5,890	AvalonBay Communities, Inc.		1,386,212
31,055	Independence Realty Trust, Inc.		678,241
			2,064,453
Semiconductors & Semiconductor Equipment - 1.6%
2,025	Analog Devices, Inc.		441,551
3,535	Broadcom, Inc.		572,953
5,600	Taiwan Semiconductor Manufacturing Co Ltd. (China)		1,034,096
			2,048,600
Software - 2.9%
6,405	Microsoft Corp.		2,712,261
5,285	Oracle Corp.		976,880
			3,689,141
Specialty Retail - 2.7%
3,130	The Home Depot, Inc.		1,343,177
8,525	The TJX Companies, Inc.		1,071,507
3,655	Tractor Supply Co.		1,036,814
			3,451,498
Technology Hardware, Storage & Peripherals - 2.3%
10,745	Apple, Inc.		2,550,111
3,155	NetApp, Inc.		386,929
			2,937,040
Trading Companies & Distributors - 0.3%
3,800	ITOCHU Corp. (Japan)		376,048
	TOTAL COMMON STOCKS (Cost $31,852,617)	$	46,005,760
CORPORATE BONDS - 19.0%
Aerospace & Defense - 0.9%
	Lockheed Martin Corp.
605,000	5.10%, 11/15/2027	$	617,119
	Raytheon Technologies Corp.
570,000	4.13%, 11/16/2028		560,119
			1,177,238
Banks - 0.4%
	The PNC Financial Services Group, Inc.
460,000	5.35%, 12/02/2028		468,217
Biotechnology - 0.4%
	AbbVie, Inc.
505,000	4.80%, 03/15/2029		509,567
Broadline Retail - 0.7%
	Amazon.com, Inc.
835,000	4.65%, 12/01/2029		848,075
Building Products - 0.5%
	Lennox International, Inc.
590,000	5.50%, 09/15/2028		605,125
Capital Markets - 2.2%
	Ares Capital Corp.
710,000	7.00%, 01/15/2027		735,564
275,000	5.95%, 07/15/2029		279,966
	Ares Management Corp.
200,000	6.38%, 11/10/2028		211,443
	Blackstone Secured Lending Fund
425,000	5.88%, 11/15/2027		434,871
	Nasdaq, Inc.
590,000	5.35%, 06/28/2028		603,709
	The Goldman Sachs Group, Inc.
535,000	5.28%, 03/18/2027		538,632
			2,804,185
Communications Equipment - 0.6%
	Cisco Systems, Inc.
790,000	4.80%, 02/26/2027		797,611
Consumer Finance - 1.4%
	American Express Co.
895,000	5.10%, 02/16/2028		901,564
	Toyota Motor Credit Corp.
895,000	4.63%, 01/12/2028		899,591
			1,801,155

Consumer Staples Distribution & Retail - 1.1%
	The Kroger Co.
615,000	4.65%, 09/15/2029		616,721
	Walmart, Inc.
765,000	3.95%, 09/09/2027		759,992
			1,376,713
Entertainment - 0.4%
	Netflix, Inc.
550,000	5.88%, 11/15/2028		575,194
Financial Services - 1.0%
	Athene Holding Ltd.
400,000	4.13%, 01/12/2028		392,142
	John Deere Capital Corp.
525,000	4.15%, 09/15/2027		522,133
	Mastercard, Inc.
420,000	4.88%, 03/09/2028		427,092
			1,341,367
Household Products - 0.4%
	The Procter & Gamble Company
570,000	3.95%, 01/26/2028		567,594
Industrial REITs - 0.7%
	Prologis LP
830,000	4.88%, 06/15/2028		840,916
Insurance - 0.5%
	Marsh & McLennan Cos, Inc.
585,000	4.38%, 03/15/2029		580,687
Interactive Media & Services - 0.5%
	Meta Platforms, Inc.
600,000	3.50%, 08/15/2027		587,345
IT Services - 0.3%
	PayPal Holdings, Inc.
330,000	3.90%, 06/01/2027		326,246
Life Sciences Tools & Services - 0.6%
	Thermo Fisher Scientific, Inc.
760,000	5.00%, 01/31/2029		774,526
Media - 0.4%
	Comcast Corp.
475,000	4.15%, 10/15/2028		468,351
Oil, Gas & Consumable Fuels - 0.5%
	The Williams Cos., Inc.
590,000	5.30%, 08/15/2028		601,565
Pharmaceuticals - 1.5%
	AstraZeneca Finance LLC
950,000	4.80%, 02/26/2027		958,761
	Merck & Co, Inc.
585,000	4.05%, 05/17/2028		581,689
	Pfizer, Inc.
455,000	3.60%, 09/15/2028		443,145
			1,983,595
Retail REITs - 0.4%
	Realty Income Corp.
570,000	4.85%, 03/15/2030		573,187
Semiconductors & Semiconductor Equipment - 1.7%
	Broadcom, Inc.
615,000	5.05%, 07/12/2029		622,050
	Microchip Technology, Inc.
590,000	5.05%, 03/15/2029		593,304
	Texas Instruments, Inc.
950,000	4.60%, 02/15/2028		957,729
			2,173,083
Software - 0.5%
	Intuit, Inc.
570,000	5.13%, 09/15/2028		583,686
Specialized REITs - 0.4%
	Extra Space Storage LP
555,000	5.70%, 04/01/2028		572,292
Specialty Retail - 0.4%
	The Home Depot, Inc.
485,000	4.88%, 06/25/2027		491,106
Technology Hardware, Storage & Peripherals - 0.6%
	Apple, Inc.
830,000	4.00%, 05/10/2028		825,275
	TOTAL CORPORATE BONDS (Cost $24,011,754)	$	24,253,901

U.S. GOVERNMENT OBLIGATIONS - 6.3%
	U.S. Treasury Note
4,535,000	4.13%, 09/30/2027	$	4,536,063
3,285,000	5.50%, 08/15/2028		3,451,560
	TOTAL U.S. GOVERNMENT OBLIGATIONS (Cost $7,868,592)	$	7,987,623
SHORT TERM INVESTMENTS - 2.2%
Money Market Funds - 2.2%
2,773,249	Fidelity Investments Money Market Funds Government Portfolio Institutional Class, 4.55% (b)	$	2,773,249
	TOTAL SHORT TERM INVESTMENTS (Cost $2,773,249)	$	2,773,249
	Total Investments - 99.7% (Cost $110,158,622)	$	127,311,751
	Other Assets in Excess of Liabilities - 0.3%		406,849
	Total Net Assets - 100.0%	$	127,718,600

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 November 30, 2024.

REIT - Real Estate Investment Trust

The Global Industry Classification Standard (GICS^®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor’s Financial Services LLP (“S&P”).

GICS is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services, LLC.

	Asset Class												Liability Class
	Level 1									Level 2			Level 2
Funds	Investment Companies			Short Term Investments			Cash Equivalents			Total Return  Swap Contracts*			Total Return  Swap Contracts*
Direxion Monthly High Yield Bull 1.2X Fund	$	14,235,399		$	1,020,000		$	2,505,850		$	58,463		$	-
Direxion Monthly NASDAQ-100® Bull 1.25X Fund		5,683,091			1,394,081			3,956,547			387,846			-
Direxion Monthly NASDAQ-100® Bull 1.75X Fund		270,028,138			53,957,830			126,367,936			51,677,878			-
Direxion Monthly S&P 500® Bull 1.75X Fund		69,501,366			24,560,000			30,636,685			9,956,426			-
Direxion Monthly Small Cap Bull 1.75X Fund		8,019,442			3,231,941			5,809,954			253,494			-
Direxion Monthly 7-10 Year Treasury Bull 1.75X Fund		3,495,567			1,291,472			1,553,319			27,504			(12,241	)
Direxion Monthly 7-10 Year Treasury Bear 1.75X Fund		-			1,330,000			2,153,125			42,902			-

For further information regarding each asset class, see each Fund’s Schedule of Investments.

* Total return swap contracts are valued at the unrealized appreciation/(depreciation).

Hilton Tactical Income Fund	Level 1		Level 2		Level 3		Total
Investment Companies		$  46,291,218	$	-	$	-	$	46,291,218
Common Stocks		46,005,760		-		-		46,005,760
Corporate Bonds		-		24,253,901		-		24,253,901
U.S. Government Obligations		7,987,623		-		-		7,987,623
Short Term Investments		2,773,249		-		-		2,773,249

For further detail on each asset class, see Schedule of Investments.