Vault-13

PROSHARES TR SSO

PSHS ULT S&P 500 · ETP · CUSIP 74347R107

242 institutional holders +12 vs Q2 2025
20,966,11421.0m shares reported held*
$2.4bnreported value*
48 new 63 added 68 reduced 31 sold out net bought ≈ $739.6m (+6.6m 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 ($9.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $112.12. Options: 6 managers hold calls ($132.8m notional), 5 hold puts ($75.7m).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 144Q4 22: 157Q1 23: 163Q2 23: 177Q3 23: 163Q4 23: 192Q1 24: 188Q2 24: 204Q3 24: 211Q4 24: 243Q1 25: 215Q2 25: 230Q3 25: 242242Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 2022144
Q4 2022157
Q1 2023163
Q2 2023177
Q3 2023163
Q4 2023192
Q1 2024188
Q2 2024204
Q3 2024211
Q4 2024243
Q1 2025215
Q2 2025230
Q3 2025242

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q4 23: 91 bought or addedQ4 23: 64 cut or sold outQ1 24: 72 bought or addedQ1 24: 93 cut or sold outQ1 24Q2 24: 90 bought or addedQ2 24: 63 cut or sold outQ3 24: 89 bought or addedQ3 24: 101 cut or sold outQ3 24Q4 24: 103 bought or addedQ4 24: 90 cut or sold outQ1 25: 83 bought or addedQ1 25: 115 cut or sold outQ1 25Q2 25: 118 bought or addedQ2 25: 83 cut or sold outQ3 25: 111 bought or addedQ3 25: 99 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 20239164
Q1 20247293
Q2 20249063
Q3 202489101
Q4 202410390
Q1 202583115
Q2 202511883
Q3 202511199

Calls vs puts

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

CallsPuts
$0$50m$100m$150mQ4 24 calls: $100.7mQ4 24 puts: $61.1mQ4 24P/C 0.61Q1 25 calls: $65.8mQ1 25 puts: $32.1mQ1 25P/C 0.49Q2 25 calls: $94.9mQ2 25 puts: $54.5mQ2 25P/C 0.57Q3 25 calls: $132.8mQ3 25 puts: $75.7mQ3 25P/C 0.57
Numbers
QuarterCallsPutsP/C
Q4 2024$100.7m$61.1m0.61
Q1 2025$65.8m$32.1m0.49
Q2 2025$94.9m$54.5m0.57
Q3 2025$132.8m$75.7m0.57

Biggest buyers

ASSETMARK, INC Added +6,629,056+6.6m
OSAIC HOLDINGS, INC. Added +382,224+382.2k
Portfolio Design Labs, LLC New +102,488+102.5k
Ascent Group, LLC New +84,676+84.7k
JPMORGAN CHASE & CO Added +63,122+63.1k
TFB Advisors LLC New +52,807+52.8k
Three Seasons Wealth, LLC New +50,613+50.6k
CWM, LLC New +50,024+50.0k
TTP Investments, Inc. Added +31,063+31.1k
MILESTONE ASSET MANAGEMENT, LLC Added +29,633+29.6k

Biggest sellers

Robinson Value Management, Ltd. Sold out -236,118-236.1k
Marshall Financial Group, LLC Reduced -189,119-189.1k
NBZ Investment Advisors LLC Sold out -140,474-140.5k
CITADEL ADVISORS LLC Sold out -103,345-103.3k
Howard Capital Management, LLC Reduced -71,930-71.9k
Sollinda Capital Management LLC Reduced -58,978-59.0k
Client First Investment Management LLC Reduced -52,555-52.6k
Brookstone Capital Management Reduced -42,496-42.5k
Ashton Thomas Private Wealth, LLC Sold out -42,351-42.4k
GTS SECURITIES LLC Sold out -38,176-38.2k

Biggest calls

CITADEL ADVISORS LLC Reduced $46.8m417.7k shares
WOLVERINE TRADING, LLC New $29.2m262.3k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $25.0m223.2k shares
IMC-Chicago, LLC Added $19.2m171.4k shares
JANE STREET GROUP, LLC Added $9.1m81.5k shares
GROUP ONE TRADING LLC Added $3.4m30.5k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $28.5m254.3k shares
CITADEL ADVISORS LLC Added $25.7m229.1k shares
WOLVERINE TRADING, LLC New $9.5m85.4k shares
JANE STREET GROUP, LLC Reduced $8.4m75.3k shares
Lido Advisors, LLC Unchanged $3.5m31.5k 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, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Howard Capital Management, LLC 10.21% of their portfolio Alpharetta, GA 6,887,7606.9m $772.3m $772.3m 10.21% Reduced -71.9k -71,930
2 ASSETMARK, INC 1.59% of their portfolio CONCORD, CA 6,635,0786.6m $744.0m $744.0m 1.59% Added +6.6m +6,629,056
3 Sollinda Capital Management LLC 18.71% of their portfolio HICKORY, NC 608,916608.9k $68.3m $68.3m 18.71% Reduced -59.0k -58,978
4 Main Street Group, LTD 19.66% of their portfolio GLEN ALLEN, VA 598,699598.7k $67.1m $67.1m 19.66% Added +17.9k +17,929
5 OSAIC HOLDINGS, INC. 0.06% of their portfolio SCOTTSDALE, AZ 412,301412.3k $46.1m $46.1m 0.06% Added +382.2k +382,224
6 TTP Investments, Inc. 13.50% of their portfolio San Jose, CA 411,714411.7k $46.6m $46.6m 13.50% Added +31.1k +31,063
7 Ridgepath Capital Management LLC 17.01% of their portfolio Knoxville, TN 355,437355.4k $39.9m $39.9m 17.01% Reduced -337 -337
8 PINKERTON WEALTH, LLC 3.74% of their portfolio COEUR D ALENE, ID 309,881309.9k $34.7m $34.7m 3.74% Added +6.2k +6,184
9 Revere Asset Management, Inc 12.26% of their portfolio DALLAS, TX 289,706289.7k $32.5m $32.5m 12.26% Added +18.4k +18,363
10 Spire Wealth Management 0.65% of their portfolio MCLEAN, VA 171,209171.2k $19.2m $19.2m 0.65% Added +8.6k +8,636
11 HighTower Advisors, LLC 0.02% of their portfolio CHICAGO, IL 164,705164.7k $18.5m $18.5m 0.02% Reduced -4.9k -4,934
12 Capital Investment Advisory Services, LLC 1.44% of their portfolio RALEIGH, NC 162,119162.1k $18.2m $18.2m 1.44% Reduced -9.4k -9,424
13 Asset Management Group, Inc. 2.72% of their portfolio STAMFORD, CT 148,051148.1k $16.6m $16.6m 2.72% Reduced -1.4k -1,419
14 AXXCESS WEALTH MANAGEMENT, LLC 0.34% of their portfolio CARLSBAD, CA 145,116145.1k $16.3m $16.3m 0.34% Reduced -980 -980
15 TOTH FINANCIAL ADVISORY CORP 1.69% of their portfolio LEESBURG, VA 139,763139.8k $15.7m $15.7m 1.69% Reduced -4.9k -4,857
16 KINGSWOOD WEALTH ADVISORS, LLC 0.90% of their portfolio SAN DIEGO, CA 132,858132.9k $14.9m $14.9m 0.90% Added +11.9k +11,944
17 UBS Group AG 0.00% of their portfolio ZURICH, V8 130,974131.0k $14.7m $14.7m 0.00% Reduced -3.1k -3,112
18 Cambridge Investment Research Advisors, Inc. 0.04% of their portfolio FAIRFIELD, IA 124,636124.6k $14.0m $14.0m 0.04% Added +526 +526
19 True Freedom Investing, LLC 4.96% of their portfolio COEUR D'ALENE, ID 123,958124.0k $13.9m $13.9m 4.96% Reduced -3.3k -3,267
20 Global View Capital Management LLC 2.58% of their portfolio WAUKESHA, WI 108,294108.3k $12.1m $12.1m 2.58% Reduced -7.0k -6,965
21 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 105,438105.4k $11.8m $11.8m 0.00% Added +63.1k +63,122
22 Portfolio Design Labs, LLC 1.97% of their portfolio ENCINO, CA 102,488102.5k $11.5m $11.5m 1.97% New
23 Brookstone Capital Management 0.13% of their portfolio WHEATON, IL 98,09598.1k $11.0m $11.0m 0.13% Reduced -42.5k -42,496
24 LTG Capital LLC 8.54% of their portfolio FRAMINGHAM, MA 96,73796.7k $10.8m $10.8m 8.54% Reduced -368 -368
25 Client First Investment Management LLC 5.20% of their portfolio West Bend, WI 90,99591.0k $10.2m $10.2m 5.20% Reduced -52.6k -52,555
26 INDEPENDENT FINANCIAL GROUP, LLC 0.24% of their portfolio SAN DIEGO, CA 87,53987.5k $9.8m $9.8m 0.24% Reduced -728 -728
27 GenWealth Group, Inc. 1.79% of their portfolio Maplewood, NJ 85,58085.6k $9.6m $9.6m 1.79% Reduced -5.5k -5,457
28 Ascent Group, LLC 0.34% of their portfolio VIRGINIA BEACH, VA 84,67684.7k $9.5m $9.5m 0.34% New
29 Capital Investment Counsel, Inc 1.09% of their portfolio RALEIGH, NC 79,95080.0k $9.0m $9.0m 1.09% Reduced -200 -200
30 Lido Advisors, LLC 0.03% of their portfolio Los Angeles, CA 74,68874.7k $8.4m $8.4m 0.03% Reduced -9.4k -9,373
31 RIA Advisory Group LLC 1.86% of their portfolio Des Moines, IA 64,22364.2k $7.2m $7.2m 1.86% Added +105 +105
32 Marshall Financial Group, LLC 1.40% of their portfolio Hunt Valley, MD 63,86063.9k $7.2m $7.2m 1.40% Reduced -189.1k -189,119
33 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 62,63462.6k $7.0m $7.0m 0.00% Unchanged
34 SMITH CHAS P & ASSOCIATES PA CPAS 0.56% of their portfolio LAKELAND, FL 57,47357.5k $6.4m $6.4m 0.56% Unchanged
35 Tempus Wealth Planning, LLC 1.40% of their portfolio IRVINE, CA 54,54154.5k $6.1m $6.1m 1.40% Reduced -7.3k -7,289
36 UNIQUE WEALTH, LLC 0.89% of their portfolio TAMPA, FL 54,22554.2k $6.1m $6.1m 0.89% Reduced -5.5k -5,466
37 TFB Advisors LLC 1.70% of their portfolio OVERLAND PARK, KS 52,80752.8k $5.8m $5.8m 1.70% New
38 Three Seasons Wealth, LLC 0.56% of their portfolio SALT LAKE CITY, UT 50,61350.6k $5.7m $5.7m 0.56% New
39 CROWLEY WEALTH MANAGEMENT, INC. 4.48% of their portfolio WILMINGTON, DE 50,26450.3k $5.6m $5.6m 4.48% Added +1.5k +1,515
40 CWM, LLC 0.02% of their portfolio OMAHA, NE 50,02450.0k $5.6m $5.6m 0.02% New
41 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 45,03845.0k $5.1m $5.1m 0.00% Added +19.0k +19,048
42 CENTAURUS FINANCIAL, INC. 0.21% of their portfolio ANAHEIM, CA 39,14439.1k $4.4m $4.4m 0.21% Added +9.4k +9,434
43 Tower Research Capital LLC (TRC) 0.12% of their portfolio NEW YORK, NY 37,20037.2k $4.2m $4.2m 0.12% Added +26.3k +26,258
44 CAPTRUST FINANCIAL ADVISORS 0.01% of their portfolio RALEIGH, NC 33,39033.4k $3.7m $3.7m 0.01% Added +28.9k +28,935
45 MILESTONE ASSET MANAGEMENT, LLC 0.69% of their portfolio PITTSBURGH, PA 32,42332.4k $3.6m $3.6m 0.69% Added +29.6k +29,633
46 Apollon Financial, LLC 0.59% of their portfolio MOUNT PLEASANT, SC 31,80231.8k $3.6m $3.6m 0.59% Added +2 +2
47 SP Asset Management LLC 0.27% of their portfolio CUPERTINO, CA 30,32830.3k $3.4m $3.4m 0.27% Reduced -21.9k -21,912
48 Sowell Financial Services LLC 0.13% of their portfolio NORTH LITTLE ROCK, AR 30,08930.1k $3.4m $3.4m 0.13% Added +2.6k +2,608
49 Plotkin Financial Advisors, LLC 1.65% of their portfolio CHEVY CHASE, MD 29,72029.7k $3.3m $3.3m 1.65% Reduced -47 -47
50 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 28,67128.7k $3.2m $3.2m 0.00% Added +2.6k +2,552
51 Innova Wealth Partners 1.73% of their portfolio NEWTOWN, PA 28,56828.6k $3.2m $3.2m 1.73% Added +658 +658
52 Professional Financial Advisors, LLC 0.62% of their portfolio NORTH PLATTE, NE 26,43426.4k $3.0m $3.0m 0.62% Added +956 +956
53 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 26,10026.1k $2.9m $2.9m 0.00% Added +22.0k +22,000
54 Vontobel Holding Ltd. 0.01% of their portfolio ZURICH, V8 24,42424.4k $2.7m $2.7m 0.01% New
55 NewEdge Wealth, LLC 0.04% of their portfolio STAMFORD, CT 24,05324.1k $2.8m $2.8m 0.04% Unchanged
56 MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio DENVER, CO 23,63023.6k $2.6m $2.6m 0.00% New
57 D. SCOTT NEAL, INC. 1.18% of their portfolio LEXINGTON, KY 22,68822.7k $2.5m $2.5m 1.18% Unchanged
58 Mariner, LLC 0.00% of their portfolio Overland Park, KS 22,63522.6k $2.5m $2.5m 0.00% Added +3.9k +3,875
59 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 22,58322.6k $2.5m $2.5m 0.00% Added +300 +300
60 Koshinski Asset Management, Inc. 0.17% of their portfolio DECATUR, IL 22,11522.1k $2.5m $2.5m 0.17% Added +439 +439
61 Valeo Financial Advisors, LLC 0.05% of their portfolio CARMEL, IN 20,01820.0k $2.2m $2.2m 0.05% Reduced -114 -114
62 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 20,00020.0k $2.2m $2.2m 0.00% Unchanged
63 Clear Creek Financial Management, LLC 0.19% of their portfolio SILVERDALE, WA 19,94519.9k $2.2m $2.2m 0.19% Added +535 +535
64 Sanctuary Advisors, LLC 0.01% of their portfolio INDIANAPOLIS, IN 18,51318.5k $1.8m $1.8m 0.01% Added +8.4k +8,426
65 Sovereign Financial Group, Inc. 0.38% of their portfolio STAMFORD, CT 18,02618.0k $2.0m $2.0m 0.38% Unchanged
66 Balefire, LLC 0.39% of their portfolio DALLAS, TX 17,55617.6k $2.0m $2.0m 0.39% New
67 Meridian Wealth Management, LLC 0.07% of their portfolio LEXINGTON, KY 17,18717.2k $1.9m $1.9m 0.07% Reduced -459 -459
68 PMV Capital Advisers, LLC 3.57% of their portfolio DALLAS, TX 16,42316.4k $1.8m $1.8m 3.57% Added +1.6k +1,597
69 Global Assets Advisory, LLC 0.54% of their portfolio ORLANDO, FL 16,33016.3k $1.8m $1.8m 0.54% New
70 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 16,08816.1k $1.8m $1.8m 0.00% Reduced -287 -287
71 Rollins Financial Advisors, LLC 0.24% of their portfolio ATLANTA, GA 14,09414.1k $1.6m $1.6m 0.24% Added +1.5k +1,527
72 Farther Finance Advisors, LLC 0.02% of their portfolio SAN FRANCISCO, CA 13,98914.0k $1.6m $1.6m 0.02% Added +8.7k +8,710
73 GeoWealth Management, LLC 0.06% of their portfolio CHICAGO, IL 13,89813.9k $1.6m $1.6m 0.06% Reduced -374 -374
74 FSA WEALTH PARTNERS, INC. 0.57% of their portfolio Rockville, MD 13,10713.1k $1.5m $1.5m 0.57% Reduced -1.1k -1,148
75 Discipline Wealth Solutions, LLC 0.38% of their portfolio GREENVILLE, SC 12,91712.9k $1.4m $1.4m 0.38% Reduced -2.0k -2,045
76 Allworth Financial LP 0.01% of their portfolio FOLSOM, CA 12,27012.3k $1.4m $1.4m 0.01% Added +43 +43
77 WoodTrust Financial Corp 0.16% of their portfolio WISCONSIN RAPIDS, WI 12,26812.3k $1.4m $1.4m 0.16% New
78 SPROTT INC. 0.05% of their portfolio TORONTO, A6 12,20012.2k $1.4m $1.4m 0.05% Unchanged
79 Thrivent Financial for Lutherans 0.00% of their portfolio Minneapolis, MN 12,16612.2k $1.4m $1.4m 0.00% Reduced -3.6k -3,650
80 DIVERSIFIED TRUST CO 0.03% of their portfolio MEMPHIS, TN 12,00012.0k $1.3m $1.3m 0.03% New
81 DONALDSON CAPITAL MANAGEMENT, LLC 0.04% of their portfolio EVANSVILLE, IN 12,00012.0k $1.3m $1.3m 0.04% Unchanged
82 Modern Wealth Management, LLC 0.03% of their portfolio KANSAS CITY, MO 11,86311.9k $1.3m $1.3m 0.03% Unchanged
83 MGO ONE SEVEN LLC 0.03% of their portfolio Beachwood, OH 11,72811.7k $1.3m $1.3m 0.03% Reduced -1.4k -1,388
84 SkyOak Wealth, LLC 0.25% of their portfolio SOUTHFIELD, MI 11,70911.7k $1.3m $1.3m 0.25% Reduced -605 -605
85 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 11,59311.6k $1.3m $1.3m 0.00% Added +2.5k +2,538
86 Evolution Wealth Advisors, LLC 0.17% of their portfolio AVENTURA, FL 11,53211.5k $1.3m $1.3m 0.17% Unchanged
87 Berger Financial Group, Inc 0.08% of their portfolio PLYMOUTH, MN 11,44411.4k $1.3m $1.3m 0.08% Unchanged
88 Stratos Wealth Partners, LTD. 0.01% of their portfolio BEACHWOOD, OH 11,21911.2k $1.3m $1.3m 0.01% Reduced -1.3k -1,338
89 Legacy Wealth Managment, LLC/ID 0.56% of their portfolio BOISE, ID 11,06011.1k $1.2m $1.2m 0.56% Reduced -6.3k -6,280
90 WOLVERINE TRADING, LLC 0.02% of their portfolio CHICAGO, IL 10,90310.9k $1.2m $1.2m 0.02% New
91 Avidian Wealth Enterprises, LLC 0.04% of their portfolio Houston, TX 9,5089.5k $1.1m $1.1m 0.04% Added +4 +4
92 Chicago Partners Investment Group LLC 0.03% of their portfolio CHICAGO, IL 9,2859.3k $1.1m $1.1m 0.03% Reduced -312 -312
93 Balboa Wealth Partners 0.18% of their portfolio SCOTTSDALE, AZ 9,1799.2k $1.0m $1.0m 0.18% Reduced -158 -158
94 Strategic Blueprint, LLC 0.04% of their portfolio ATLANTA, GA 9,0819.1k $1.0m $1.0m 0.04% Reduced -6.7k -6,700
95 SteelPeak Wealth, LLC 0.03% of their portfolio WOODLAND HILLS, CA 8,8808.9k $995.7k $995.7k 0.03% Unchanged
96 BLAIR WILLIAM & CO/IL 0.00% of their portfolio CHICAGO, IL 8,8788.9k $995.5k $995.5k 0.00% Added +371 +371
97 AmeriServ Wealth Advisors 0.49% of their portfolio Johnstown, PA 8,6278.6k $967.3k $967.3k 0.49% Added +23 +23
98 Ausdal Financial Partners, Inc. 0.05% of their portfolio Davenport, IA 8,3978.4k $941.5k $941.5k 0.05% Reduced -893 -893
99 NorthCoast Asset Management LLC 0.00% of their portfolio STAMFORD, CT 8,3928.4k $941.0k $941.0k 0.00% Added +392 +392
100 MAI Capital Management 0.01% of their portfolio INDEPENDENCE, OH 8,3058.3k $931.2k $931.2k 0.01% Reduced -115 -115