Vault-13

PROSHARES TR DOG

PSHS SHORT DOW30 · ETP · CUSIP 74347B235

21 institutional holders -5 vs Q3 2025
702,416702.4k shares reported held*
$16.5mreported value*
7 new 8 added 4 reduced 13 sold out net sold ≈ $6.0m (-256.9k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $23.48. Options: 0 managers hold calls (— notional), 2 hold puts ($855.0k).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 47Q4 22: 45Q1 23: 33Q2 23: 30Q3 23: 32Q4 23: 31Q1 24: 30Q2 24: 27Q3 24: 22Q4 24: 20Q1 25: 29Q2 25: 23Q3 25: 26Q4 25: 2121Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 202247
Q4 202245
Q1 202333
Q2 202330
Q3 202332
Q4 202331
Q1 202430
Q2 202427
Q3 202422
Q4 202420
Q1 202529
Q2 202523
Q3 202526
Q4 202521

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
20020Q1 24: 11 bought or addedQ1 24: 18 cut or sold outQ2 24: 11 bought or addedQ2 24: 16 cut or sold outQ2 24Q3 24: 11 bought or addedQ3 24: 16 cut or sold outQ4 24: 13 bought or addedQ4 24: 14 cut or sold outQ4 24Q1 25: 18 bought or addedQ1 25: 8 cut or sold outQ2 25: 13 bought or addedQ2 25: 18 cut or sold outQ2 25Q3 25: 16 bought or addedQ3 25: 12 cut or sold outQ4 25: 15 bought or addedQ4 25: 17 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20241118
Q2 20241116
Q3 20241116
Q4 20241314
Q1 2025188
Q2 20251318
Q3 20251612
Q4 20251517

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$1m$2m$3mQ1 25 calls: $2.1mQ1 25 puts: $2.1mQ1 25P/C 1.02Q2 25 calls: $1.5mQ2 25 puts: $272.6kQ2 25P/C 0.18Q3 25 calls: $0Q3 25 puts: $0Q3 25P/C —Q4 25 calls: $0Q4 25 puts: $855.0kQ4 25P/C —
Numbers
QuarterCallsPutsP/C
Q1 2025$2.1m$2.1m1.02
Q2 2025$1.5m$272.6k0.18
Q3 2025$0$0—
Q4 2025$0$855.0k—

Biggest buyers

OPPENHEIMER & CO INC Added +152,072+152.1k
Sugar Maple Asset Management, LLC New +90,000+90.0k
UBS Group AG Added +43,588+43.6k
HRT FINANCIAL LP New +35,182+35.2k
Quadrature Capital Ltd New +26,491+26.5k
Tower Research Capital LLC (TRC) Added +18,831+18.8k
Range Financial Group LLC New +15,447+15.4k
Graves Light Lenhart Wealth, Inc. New +14,348+14.3k
MORGAN STANLEY Added +5,262+5.3k
JPMORGAN CHASE & CO Added +5,195+5.2k

Biggest sellers

Arkadios Wealth Advisors Sold out -169,209-169.2k
Arax Advisory Partners Sold out -134,217-134.2k
CIBC WORLD MARKET INC. Sold out -93,550-93.5k
Squarepoint Ops LLC Reduced -68,330-68.3k
LPL Financial LLC Sold out -45,444-45.4k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Sold out -41,387-41.4k
IMC-Chicago, LLC Sold out -37,755-37.8k
RENAISSANCE TECHNOLOGIES LLC Sold out -31,200-31.2k
Kovack Advisors, Inc. Sold out -30,950-30.9k
Maltin Wealth Management, Inc. Sold out -9,703-9.7k

Biggest calls

None

Biggest puts

CITADEL ADVISORS LLC New $441.6k18.8k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP New $413.4k17.6k shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 OPPENHEIMER & CO INC 0.07% of their portfolio NEW YORK, NY 197,935197.9k $4.6m $4.6m 0.07% Added +152.1k +152,072
2 UBS Group AG 0.00% of their portfolio ZURICH, V8 125,497125.5k $2.9m $2.9m 0.00% Added +43.6k +43,588
3 Sugar Maple Asset Management, LLC 1.42% of their portfolio SISTER BAY, WI 90,00090.0k $2.1m $2.1m 1.42% New
4 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 45,23245.2k $1.1m $1.1m 0.00% Added +5.3k +5,262
5 Hedges Asset Management LLC 0.62% of their portfolio RENO, NV 37,45037.5k $879.7k $879.7k 0.62% Added +3.0k +2,950
6 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 36,61036.6k $860.0k $860.0k 0.00% Reduced -300 -300
7 HRT FINANCIAL LP 0.00% of their portfolio NEW YORK, NY 35,18235.2k $826.0k $826.0k 0.00% New
8 Quadrature Capital Ltd 0.01% of their portfolio LONDON, X0 26,49126.5k $622.3k $622.3k 0.01% New
9 Tower Research Capital LLC (TRC) 0.01% of their portfolio NEW YORK, NY 21,25521.3k $499.3k $499.3k 0.01% Added +18.8k +18,831
10 TWO SIGMA SECURITIES, LLC 0.06% of their portfolio NEW YORK, NY 18,47718.5k $434.0k $434.0k 0.06% Added +5.2k +5,154
11 Range Financial Group LLC 0.13% of their portfolio TIGARD, OR 15,44715.4k $362.9k $362.9k 0.13% New
12 Graves Light Lenhart Wealth, Inc. 0.04% of their portfolio HARRISONBURG, VA 14,34814.3k $337.0k $337.0k 0.04% New
13 Squarepoint Ops LLC 0.00% of their portfolio NEW YORK, NY 13,92713.9k $327.1k $327.1k 0.00% Reduced -68.3k -68,330
14 Fox Hill Wealth Management 0.12% of their portfolio DEDHAM, MA 11,00611.0k $258.5k $258.5k 0.12% Reduced -5.9k -5,916
15 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 5,7545.8k $135.2k $135.2k 0.00% Added +2.7k +2,717
16 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 5,5675.6k $130.8k $130.8k 0.00% Added +5.2k +5,195
17 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 1,1611.2k $27.3k $27.3k 0.00% New
18 Union Bancaire Privee, UBP SA 0.00% of their portfolio GENEVA 1, V8 1,0001.0k $18.5k $18.5k 0.00% Unchanged
19 GROUP ONE TRADING LLC 0.00% of their portfolio CHICAGO, IL 4646 $1.1k $1.1k 0.00% New
20 MH & ASSOCIATES SECURITIES MANAGEMENT CORP /ADV 0.00% of their portfolio CARLSBAD, CA 2525 $588 $588 0.00% First filing
21 SIMPLEX TRADING, LLC 0.00% of their portfolio CHICAGO, IL 66 $140 $140 0.00% Reduced -1.2k -1,241