Vault-13

PROSHARES TR SSO

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

263 institutional holders +21 vs Q3 2025
31,121,83831.1m shares reported held*
$1.8bnreported value*
35 new 75 added 87 reduced 22 sold out net sold ≈ $629.4m (-11.3m shares)

Q3 2025 share counts are adjusted for a 2-for-1 stock split, so holders aren't shown as buying or selling because of it.

* 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 ($10.9m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $58.69. Options: 5 managers hold calls ($66.6m notional), 5 hold puts ($56.5m).

Trends to Q4 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: 242Q4 25: 263263Q3 22Q2 23Q1 24Q4 24Q4 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
Q4 2025263

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q1 24: 72 bought or addedQ1 24: 93 cut or sold outQ2 24: 90 bought or addedQ2 24: 63 cut or sold outQ2 24Q3 24: 89 bought or addedQ3 24: 101 cut or sold outQ4 24: 103 bought or addedQ4 24: 90 cut or sold outQ4 24Q1 25: 83 bought or addedQ1 25: 115 cut or sold outQ2 25: 118 bought or addedQ2 25: 83 cut or sold outQ2 25Q3 25: 111 bought or addedQ3 25: 99 cut or sold outQ4 25: 110 bought or addedQ4 25: 109 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20247293
Q2 20249063
Q3 202489101
Q4 202410390
Q1 202583115
Q2 202511883
Q3 202511199
Q4 2025110109

Calls vs puts

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

CallsPuts
$0$50m$100m$150mQ1 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 0.57Q4 25 calls: $66.6mQ4 25 puts: $56.5mQ4 25P/C 0.85
Numbers
QuarterCallsPutsP/C
Q1 2025$65.8m$32.1m0.49
Q2 2025$94.9m$54.5m0.57
Q3 2025$132.8m$75.7m0.57
Q4 2025$66.6m$56.5m0.85

Biggest buyers

Client First Investment Management LLC Added +358,071+358.1k
CWM, LLC Added +296,257+296.3k
NBZ Investment Advisors LLC New +271,756+271.8k
Global View Capital Management LLC Added +248,908+248.9k
True Freedom Investing, LLC Added +107,170+107.2k
Wealthcare Advisory Partners LLC New +95,918+95.9k
Ashton Thomas Private Wealth, LLC New +94,737+94.7k
Jump Financial, LLC New +89,548+89.5k
Brookstone Capital Management Added +64,245+64.2k
PINKERTON WEALTH, LLC Added +57,774+57.8k

Biggest sellers

ASSETMARK, INC Reduced -9,805,931-9.8m
OSAIC HOLDINGS, INC. Reduced -770,269-770.3k
Sollinda Capital Management LLC Reduced -681,429-681.4k
Ridgepath Capital Management LLC Reduced -355,437-355.4k
UBS Group AG Reduced -233,992-234.0k
TTP Investments, Inc. Reduced -204,669-204.7k
LTG Capital LLC Sold out -193,474-193.5k
AXXCESS WEALTH MANAGEMENT, LLC Reduced -136,470-136.5k
Cambridge Investment Research Advisors, Inc. Reduced -119,921-119.9k
JPMORGAN CHASE & CO Reduced -102,335-102.3k

Biggest calls

CITADEL ADVISORS LLC Reduced $26.6m458.5k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $15.9m273.8k shares
IMC-Chicago, LLC Reduced $13.6m234.2k shares
JANE STREET GROUP, LLC Reduced $7.8m135.5k shares
GROUP ONE TRADING LLC Reduced $2.7m47.1k shares

Biggest puts

CITADEL ADVISORS LLC Reduced $25.3m436.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $20.6m355.9k shares
JANE STREET GROUP, LLC Reduced $8.6m148.4k shares
Lido Advisors, LLC Reduced $1.8m31.5k shares
Pavaki Capital Management LLC First filing $173.8k3.0k 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 Howard Capital Management, LLC 10.33% of their portfolio Alpharetta, GA 13,775,52013.8m $797.9m $797.9m 10.33% Unchanged
2 ASSETMARK, INC 0.41% of their portfolio CONCORD, CA 3,464,2253.5m $200.6m $200.6m 0.41% Reduced -9.8m -9,805,931
3 Main Street Group, LTD 24.11% of their portfolio GLEN ALLEN, VA 1,207,0331.2m $69.9m $69.9m 24.11% Added +9.6k +9,635
4 PINKERTON WEALTH, LLC 4.02% of their portfolio COEUR D ALENE, ID 677,536677.5k $39.2m $39.2m 4.02% Added +57.8k +57,774
5 TTP Investments, Inc. 11.71% of their portfolio San Jose, CA 618,759618.8k $35.8m $35.8m 11.71% Reduced -204.7k -204,669
6 Client First Investment Management LLC 16.41% of their portfolio West Bend, WI 540,061540.1k $31.3m $31.3m 16.41% Added +358.1k +358,071
7 Sollinda Capital Management LLC 7.94% of their portfolio HICKORY, NC 536,403536.4k $31.1m $31.1m 7.94% Reduced -681.4k -681,429
8 Revere Asset Management, Inc 10.38% of their portfolio DALLAS, TX 508,989509.0k $29.5m $29.5m 10.38% Reduced -70.4k -70,423
9 Global View Capital Management LLC 5.03% of their portfolio WAUKESHA, WI 465,496465.5k $27.0m $27.0m 5.03% Added +248.9k +248,908
10 CWM, LLC 0.06% of their portfolio OMAHA, NE 396,305396.3k $23.0m $23.0m 0.06% Added +296.3k +296,257
11 Spire Wealth Management 0.72% of their portfolio MCLEAN, VA 370,353370.4k $21.5m $21.5m 0.72% Added +27.9k +27,935
12 Ridgepath Capital Management LLC 18.30% of their portfolio Knoxville, TN 355,437355.4k $39.9m $39.9m 18.30% Reduced -355.4k -355,437
13 True Freedom Investing, LLC 1.40% of their portfolio COEUR D'ALENE, ID 355,086355.1k $20.6m $20.6m 1.40% Added +107.2k +107,170
14 HighTower Advisors, LLC 0.02% of their portfolio CHICAGO, IL 342,979343.0k $19.9m $19.9m 0.02% Added +13.6k +13,569
15 Asset Management Group, Inc. 2.69% of their portfolio STAMFORD, CT 287,438287.4k $16.6m $16.6m 2.69% Reduced -8.7k -8,664
16 NBZ Investment Advisors LLC 6.87% of their portfolio KNOXVILLE, TN 271,756271.8k $15.7m $15.7m 6.87% New
17 KINGSWOOD WEALTH ADVISORS, LLC 0.75% of their portfolio SAN DIEGO, CA 266,574266.6k $15.4m $15.4m 0.75% Added +858 +858
18 Brookstone Capital Management 0.17% of their portfolio WHEATON, IL 260,435260.4k $15.1m $15.1m 0.17% Added +64.2k +64,245
19 TOTH FINANCIAL ADVISORY CORP 1.57% of their portfolio LEESBURG, VA 249,142249.1k $14.4m $14.4m 1.57% Reduced -30.4k -30,384
20 Portfolio Design Labs, LLC 2.25% of their portfolio ENCINO, CA 235,276235.3k $13.6m $13.6m 2.25% Added +30.3k +30,300
21 Capital Investment Advisory Services, LLC 0.91% of their portfolio RALEIGH, NC 222,712222.7k $12.9m $12.9m 0.91% Reduced -101.5k -101,526
22 Ascent Group, LLC 0.35% of their portfolio VIRGINIA BEACH, VA 175,256175.3k $10.2m $10.2m 0.35% Added +5.9k +5,904
23 INDEPENDENT FINANCIAL GROUP, LLC 0.22% of their portfolio SAN DIEGO, CA 173,035173.0k $10.0m $10.0m 0.22% Reduced -2.0k -2,043
24 GenWealth Group, Inc. 1.73% of their portfolio Maplewood, NJ 170,235170.2k $10.1m $10.1m 1.73% Reduced -925 -925
25 Legacy Wealth Partners, LLC 2.50% of their portfolio Lakewood, CO 166,882166.9k $9.7m $9.7m 2.50% First filing
26 Capital Investment Counsel, Inc 1.08% of their portfolio RALEIGH, NC 158,067158.1k $9.2m $9.2m 1.08% Reduced -1.8k -1,833
27 Dedeker Financial LLC 8.06% of their portfolio ST. LOUIS PARK, MN 155,491155.5k $9.0m $9.0m 8.06% First filing
28 AXXCESS WEALTH MANAGEMENT, LLC 0.16% of their portfolio CARLSBAD, CA 153,762153.8k $8.9m $8.9m 0.16% Reduced -136.5k -136,470
29 Arta Finance Wealth Management LLC 4.33% of their portfolio MOUNTAIN VIEW, CA 146,602146.6k $8.5m $8.5m 4.33% First filing
30 Cambridge Investment Research Advisors, Inc. 0.02% of their portfolio FAIRFIELD, IA 129,351129.4k $7.5m $7.5m 0.02% Reduced -119.9k -119,921
31 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 129,268129.3k $7.5m $7.5m 0.00% Added +4.0k +4,000
32 SMITH CHAS P & ASSOCIATES PA CPAS 0.35% of their portfolio LAKELAND, FL 114,946114.9k $6.7m $6.7m 0.35% Unchanged
33 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 108,541108.5k $6.3m $6.3m 0.00% Reduced -102.3k -102,335
34 UNIQUE WEALTH, LLC 0.87% of their portfolio TAMPA, FL 107,849107.8k $6.2m $6.2m 0.87% Reduced -601 -601
35 Marshall Financial Group, LLC 1.18% of their portfolio Hunt Valley, MD 104,822104.8k $6.1m $6.1m 1.18% Reduced -22.9k -22,898
36 Three Seasons Wealth, LLC 0.57% of their portfolio SALT LAKE CITY, UT 103,065103.1k $6.0m $6.0m 0.57% Added +1.8k +1,839
37 Sowell Financial Services LLC 0.21% of their portfolio NORTH LITTLE ROCK, AR 99,71999.7k $5.8m $5.8m 0.21% Added +39.5k +39,541
38 Wealthcare Advisory Partners LLC 0.11% of their portfolio WEST CHESTER, PA 95,91895.9k $5.6m $5.6m 0.11% New
39 Ashton Thomas Private Wealth, LLC 0.13% of their portfolio SCOTTSDALE, AZ 94,73794.7k $5.5m $5.5m 0.13% New
40 MERCER GLOBAL ADVISORS INC /ADV 0.01% of their portfolio DENVER, CO 92,41892.4k $5.4m $5.4m 0.01% Added +45.2k +45,158
41 CENTAURUS FINANCIAL, INC. 0.24% of their portfolio ANAHEIM, CA 90,29290.3k $5.2m $5.2m 0.24% Added +12.0k +12,004
42 Jump Financial, LLC 0.07% of their portfolio Chicago, IL 89,54889.5k $5.2m $5.2m 0.07% New
43 Lido Advisors, LLC 0.03% of their portfolio Los Angeles, CA 77,19377.2k $8.4m $8.4m 0.03% Reduced -72.2k -72,183
44 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 67,86267.9k $3.9m $3.9m 0.00% Added +10.5k +10,520
45 CAPTRUST FINANCIAL ADVISORS 0.01% of their portfolio RALEIGH, NC 66,78066.8k $3.9m $3.9m 0.01% Unchanged
46 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 64,65864.7k $3.7m $3.7m 0.00% Reduced -25.4k -25,418
47 Tempus Wealth Planning, LLC 0.85% of their portfolio IRVINE, CA 63,69863.7k $3.7m $3.7m 0.85% Reduced -45.4k -45,384
48 Apollon Financial, LLC 0.52% of their portfolio MOUNT PLEASANT, SC 61,60761.6k $3.6m $3.6m 0.52% Reduced -2.0k -1,997
49 Innova Wealth Partners 1.72% of their portfolio NEWTOWN, PA 58,82358.8k $3.4m $3.4m 1.72% Added +1.7k +1,687
50 Plotkin Financial Advisors, LLC 1.66% of their portfolio CHEVY CHASE, MD 58,68658.7k $3.4m $3.4m 1.66% Reduced -754 -754
51 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 54,33354.3k $3.1m $3.1m 0.00% Reduced -770.3k -770,269
52 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 53,80053.8k $3.1m $3.1m 0.00% Added +1.6k +1,600
53 Professional Financial Advisors, LLC 0.63% of their portfolio NORTH PLATTE, NE 53,32553.3k $3.1m $3.1m 0.63% Added +457 +457
54 Larson Financial Group LLC 0.10% of their portfolio ST LOUIS, MO 51,96552.0k $3.0m $3.0m 0.10% Added +45.4k +45,393
55 SP Asset Management LLC 0.24% of their portfolio CUPERTINO, CA 51,53351.5k $3.0m $3.0m 0.24% Reduced -9.1k -9,123
56 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 46,60046.6k $2.7m $2.7m 0.00% New
57 Mariner, LLC 0.00% of their portfolio Overland Park, KS 45,40945.4k $2.6m $2.6m 0.00% Added +139 +139
58 NewEdge Wealth, LLC 0.03% of their portfolio STAMFORD, CT 44,70544.7k $2.6m $2.6m 0.03% Reduced -3.4k -3,401
59 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 44,56644.6k $2.6m $2.6m 0.00% Reduced -600 -600
60 Koshinski Asset Management, Inc. 0.17% of their portfolio DECATUR, IL 44,55844.6k $2.6m $2.6m 0.17% Added +328 +328
61 Vontobel Holding Ltd. 0.01% of their portfolio ZURICH, V8 43,91943.9k $2.5m $2.5m 0.01% Reduced -4.9k -4,929
62 PMV Capital Advisers, LLC 4.42% of their portfolio DALLAS, TX 41,87741.9k $2.4m $2.4m 4.42% Added +9.0k +9,031
63 Csenge Advisory Group 0.11% of their portfolio CLEARWATER, FL 41,16341.2k $2.4m $2.4m 0.11% Added +37.4k +37,429
64 Valeo Financial Advisors, LLC 0.05% of their portfolio CARMEL, IN 40,03640.0k $2.3m $2.3m 0.05% Unchanged
65 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 40,00040.0k $2.3m $2.3m 0.00% Unchanged
66 RIA Advisory Group LLC 0.55% of their portfolio Des Moines, IA 39,45439.5k $2.3m $2.3m 0.55% Reduced -89.0k -88,992
67 Clear Creek Financial Management, LLC 0.18% of their portfolio SILVERDALE, WA 38,61238.6k $2.2m $2.2m 0.18% Reduced -1.3k -1,278
68 Beacon Capital Management, Inc. 0.11% of their portfolio DAYTON, OH 36,27536.3k $2.1m $2.1m 0.11% Added +23.7k +23,657
69 Sovereign Financial Group, Inc. 0.37% of their portfolio STAMFORD, CT 36,05236.1k $2.1m $2.1m 0.37% Unchanged
70 Richmond Brothers, Inc. 1.32% of their portfolio JACKSON, MI 35,94135.9k $2.1m $2.1m 1.32% Added +21.8k +21,833
71 Meridian Wealth Management, LLC 0.07% of their portfolio LEXINGTON, KY 33,82433.8k $2.0m $2.0m 0.07% Reduced -550 -550
72 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 32,17432.2k $1.9m $1.9m 0.00% Reduced -2 -2
73 Farther Finance Advisors, LLC 0.02% of their portfolio SAN FRANCISCO, CA 32,14532.1k $1.9m $1.9m 0.02% Added +4.2k +4,167
74 Rollins Financial Advisors, LLC 0.25% of their portfolio ATLANTA, GA 29,82229.8k $1.7m $1.7m 0.25% Added +1.6k +1,634
75 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 28,94828.9k $1.7m $1.7m 0.00% Added +5.8k +5,762
76 GeoWealth Management, LLC 0.06% of their portfolio CHICAGO, IL 28,22828.2k $1.6m $1.6m 0.06% Added +432 +432
77 UBS Group AG 0.00% of their portfolio ZURICH, V8 27,95628.0k $1.6m $1.6m 0.00% Reduced -234.0k -233,992
78 Corient Private Wealth LP 0.00% of their portfolio MIAMI, FL 26,79626.8k $1.6m $1.6m 0.00% Added +16.2k +16,218
79 Focus Partners Wealth 0.00% of their portfolio ST LOUIS, MO 26,61726.6k $1.5m $1.5m 0.00% New
80 Discipline Wealth Solutions, LLC 0.29% of their portfolio GREENVILLE, SC 26,58526.6k $1.5m $1.5m 0.29% Added +751 +751
81 FSA WEALTH PARTNERS, INC. 0.53% of their portfolio Rockville, MD 25,60625.6k $1.5m $1.5m 0.53% Reduced -608 -608
82 MGO ONE SEVEN LLC 0.03% of their portfolio Beachwood, OH 25,54625.5k $1.5m $1.5m 0.03% Added +2.1k +2,090
83 Strategic Blueprint, LLC 0.08% of their portfolio ATLANTA, GA 24,63524.6k $1.4m $1.4m 0.08% Added +6.5k +6,473
84 Allworth Financial LP 0.01% of their portfolio FOLSOM, CA 24,54224.5k $1.4m $1.4m 0.01% Added +2 +2
85 WoodTrust Financial Corp 0.17% of their portfolio WISCONSIN RAPIDS, WI 24,53624.5k $1.4m $1.4m 0.17% Unchanged
86 TFB Advisors LLC 0.40% of their portfolio OVERLAND PARK, KS 24,49024.5k $1.4m $1.4m 0.40% Reduced -81.1k -81,124
87 SPROTT INC. 0.05% of their portfolio TORONTO, A6 24,40024.4k $1.4m $1.4m 0.05% Unchanged
88 Thrivent Financial for Lutherans 0.00% of their portfolio Minneapolis, MN 24,33224.3k $1.4m $1.4m 0.00% Unchanged
89 DONALDSON CAPITAL MANAGEMENT, LLC 0.04% of their portfolio EVANSVILLE, IN 24,08024.1k $1.4m $1.4m 0.04% Added +80 +80
90 DIVERSIFIED TRUST CO 0.03% of their portfolio MEMPHIS, TN 24,00024.0k $1.4m $1.4m 0.03% Unchanged
91 Modern Wealth Management, LLC 0.03% of their portfolio KANSAS CITY, MO 23,72623.7k $1.4m $1.4m 0.03% Unchanged
92 BLAIR WILLIAM & CO/IL 0.00% of their portfolio CHICAGO, IL 23,13023.1k $1.3m $1.3m 0.00% Added +5.4k +5,374
93 Evolution Wealth Advisors, LLC 0.13% of their portfolio AVENTURA, FL 23,12623.1k $1.3m $1.3m 0.13% Added +62 +62
94 Berger Financial Group, Inc 0.08% of their portfolio PLYMOUTH, MN 22,73022.7k $1.3m $1.3m 0.08% Reduced -158 -158
95 Thompson David Blair 0.72% of their portfolio CHARLOTTE, NC 21,85821.9k $1.3m $1.3m 0.72% First filing
96 DRW Securities, LLC 0.10% of their portfolio CHICAGO, IL 21,64921.6k $1.3m $1.3m 0.10% Added +6.0k +6,005
97 Stratos Wealth Partners, LTD. 0.01% of their portfolio BEACHWOOD, OH 21,28521.3k $1.2m $1.2m 0.01% Reduced -1.2k -1,153
98 SkyOak Wealth, LLC 0.22% of their portfolio SOUTHFIELD, MI 21,24521.2k $1.2m $1.2m 0.22% Reduced -2.2k -2,173
99 Sanctuary Advisors, LLC 0.01% of their portfolio INDIANAPOLIS, IN 20,30020.3k $1.2m $1.2m 0.01% Reduced -16.7k -16,726
100 HRT FINANCIAL LP 0.00% of their portfolio NEW YORK, NY 19,60619.6k $1.1m $1.1m 0.00% New