Vault-13

PROSHARES TR UDOW

ULTRPRO DOW30 · ETP · CUSIP 74347X823

62 institutional holders -2 vs Q3 2025
1,688,3961.7m shares reported held*
$97.8mreported value*
8 new 20 added 20 reduced 10 sold out net sold ≈ $16.8m (-292.4k 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. Holder counts are more reliable. Implied quarter-end price ≈ $57.94. Options: 3 managers hold calls ($48.4m notional), 3 hold puts ($19.4m).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0255075Q3 22: 30Q4 22: 39Q1 23: 35Q2 23: 47Q3 23: 43Q4 23: 47Q1 24: 46Q2 24: 49Q3 24: 57Q4 24: 63Q1 25: 53Q2 25: 58Q3 25: 64Q4 25: 6262Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 202230
Q4 202239
Q1 202335
Q2 202347
Q3 202343
Q4 202347
Q1 202446
Q2 202449
Q3 202457
Q4 202463
Q1 202553
Q2 202558
Q3 202564
Q4 202562

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q1 24: 24 bought or addedQ1 24: 21 cut or sold outQ2 24: 25 bought or addedQ2 24: 16 cut or sold outQ2 24Q3 24: 23 bought or addedQ3 24: 27 cut or sold outQ4 24: 26 bought or addedQ4 24: 25 cut or sold outQ4 24Q1 25: 19 bought or addedQ1 25: 32 cut or sold outQ2 25: 30 bought or addedQ2 25: 20 cut or sold outQ2 25Q3 25: 26 bought or addedQ3 25: 25 cut or sold outQ4 25: 28 bought or addedQ4 25: 30 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20242421
Q2 20242516
Q3 20242327
Q4 20242625
Q1 20251932
Q2 20253020
Q3 20252625
Q4 20252830

Calls vs puts

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

CallsPuts
$0$20m$40m$60mQ1 25 calls: $35.1mQ1 25 puts: $14.2mQ1 25P/C 0.41Q2 25 calls: $36.6mQ2 25 puts: $18.1mQ2 25P/C 0.49Q3 25 calls: $35.4mQ3 25 puts: $19.4mQ3 25P/C 0.55Q4 25 calls: $48.4mQ4 25 puts: $19.4mQ4 25P/C 0.40
Numbers
QuarterCallsPutsP/C
Q1 2025$35.1m$14.2m0.41
Q2 2025$36.6m$18.1m0.49
Q3 2025$35.4m$19.4m0.55
Q4 2025$48.4m$19.4m0.40

Biggest buyers

Jump Financial, LLC New +47,510+47.5k
Squarepoint Ops LLC New +43,748+43.7k
FNY Investment Advisers, LLC New +26,700+26.7k
Optiver Holding B.V. Added +20,670+20.7k
Qube Research & Technologies Ltd Added +20,493+20.5k
Corient Private Wealth LP Added +20,220+20.2k
JANE STREET GROUP, LLC Added +15,313+15.3k
Spire Wealth Management Added +15,228+15.2k
Spectrum Financial Alliance Ltd LLC Added +12,276+12.3k
Tower Research Capital LLC (TRC) Added +6,431+6.4k

Biggest sellers

FLOW TRADERS U.S. LLC Sold out -94,116-94.1k
UBS Group AG Reduced -78,371-78.4k
CITADEL ADVISORS LLC Reduced -76,485-76.5k
Quadrature Capital Ltd Sold out -64,502-64.5k
GTS SECURITIES LLC Sold out -36,976-37.0k
RENAISSANCE TECHNOLOGIES LLC Sold out -33,000-33.0k
IMC-Chicago, LLC Reduced -28,203-28.2k
TrueMark Investments, LLC Sold out -23,676-23.7k
Encompass More Asset Management Reduced -19,340-19.3k
LM Advisors LLC Reduced -12,441-12.4k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $19.3m333.4k shares
JANE STREET GROUP, LLC Added $15.4m266.2k shares
CITADEL ADVISORS LLC Added $13.7m236.6k shares

Biggest puts

CITADEL ADVISORS LLC Added $12.4m214.3k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $5.2m90.6k shares
JANE STREET GROUP, LLC Added $1.7m29.3k 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 JANE STREET GROUP, LLC 0.03% of their portfolio NEW YORK, NY 488,193488.2k $28.3m $28.3m 0.03% Added +15.3k +15,313
2 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 345,743345.7k $20.0m $20.0m 0.01% Reduced -76.5k -76,485
3 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 79,07079.1k $4.6m $4.6m 0.01% Added +3.6k +3,572
4 IMC-Chicago, LLC 0.06% of their portfolio CHICAGO, IL 62,24962.2k $3.6m $3.6m 0.06% Reduced -28.2k -28,203
5 Corient Private Wealth LP 0.00% of their portfolio MIAMI, FL 48,06048.1k $2.8m $2.8m 0.00% Added +20.2k +20,220
6 Jump Financial, LLC 0.03% of their portfolio Chicago, IL 47,51047.5k $2.8m $2.8m 0.03% New
7 Encompass More Asset Management 0.48% of their portfolio Danville, CA 45,13045.1k $2.6m $2.6m 0.48% Reduced -19.3k -19,340
8 Squarepoint Ops LLC 0.01% of their portfolio NEW YORK, NY 43,74843.7k $2.5m $2.5m 0.01% New
9 Tower Research Capital LLC (TRC) 0.06% of their portfolio NEW YORK, NY 41,84741.8k $2.4m $2.4m 0.06% Added +6.4k +6,431
10 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 40,00040.0k $2.3m $2.3m 0.00% Unchanged
11 Gotham Asset Management, LLC 0.01% of their portfolio NEW YORK, NY 39,21439.2k $2.3m $2.3m 0.01% Unchanged
12 Spectrum Financial Alliance Ltd LLC 0.41% of their portfolio NICHOLASVILLE, KY 35,42835.4k $2.1m $2.1m 0.41% Added +12.3k +12,276
13 Optiver Holding B.V. 0.03% of their portfolio AMSTERDAM, P7 32,63232.6k $1.9m $1.9m 0.03% Added +20.7k +20,670
14 FNY Investment Advisers, LLC 0.44% of their portfolio NEW YORK, NY 26,70026.7k $1.5m $1.5m 0.44% New
15 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 25,13925.1k $1.5m $1.5m 0.00% Added +20.5k +20,493
16 UBS Group AG 0.00% of their portfolio ZURICH, V8 24,49124.5k $1.4m $1.4m 0.00% Reduced -78.4k -78,371
17 Ascentis Independent Advisors 0.17% of their portfolio DALLAS, TX 18,47618.5k $1.1m $1.1m 0.17% Reduced -950 -950
18 Canal Capital Management, LLC 0.15% of their portfolio Richmond, VA 18,12518.1k $1.0m $1.0m 0.15% Added +45 +45
19 Capital Investment Advisors, LLC 0.01% of their portfolio ATLANTA, GA 15,98916.0k $925.9k $925.9k 0.01% Added +177 +177
20 Spire Wealth Management 0.03% of their portfolio MCLEAN, VA 15,71615.7k $910.1k $910.1k 0.03% Added +15.2k +15,228
21 KEYBANK NATIONAL ASSOCIATION/OH 0.00% of their portfolio BROOKLYN, OH 15,32015.3k $887.2k $887.2k 0.00% Unchanged
22 World Investment Advisors 0.01% of their portfolio LINCROFT, NJ 13,55613.6k $785.0k $785.0k 0.01% Added +582 +582
23 Millington Financial Advisors, LLC 0.37% of their portfolio NAPERVILLE, IL 12,81012.8k $827.0k $827.0k 0.37% Reduced -3.8k -3,808
24 CPR Investments Inc. 0.44% of their portfolio Rochester, MI 11,19411.2k $648.3k $648.3k 0.44% Reduced -5.0k -5,024
25 FOUNDERS FINANCIAL SECURITIES LLC 0.04% of their portfolio TOWSON, MD 11,16611.2k $646.6k $646.6k 0.04% Reduced -5.2k -5,246
26 Innova Wealth Partners 0.31% of their portfolio NEWTOWN, PA 10,54610.5k $610.7k $610.7k 0.31% Added +70 +70
27 Discipline Wealth Solutions, LLC 0.11% of their portfolio GREENVILLE, SC 9,97710.0k $577.8k $577.8k 0.11% Reduced -4.8k -4,793
28 Provident Wealth Management, LLC 0.16% of their portfolio BRENTWOOD, TN 9,4499.4k $547.2k $547.2k 0.16% Reduced -2.6k -2,551
29 Cassaday & Co Wealth Management LLC 0.01% of their portfolio MCLEAN, VA 9,0029.0k $521.3k $521.3k 0.01% Unchanged
30 Significant Wealth Partners LLC 0.54% of their portfolio CARY, IL 8,3498.3k $483.5k $483.5k 0.54% Reduced -9.8k -9,817
31 CITIZENS FINANCIAL GROUP INC/RI 0.01% of their portfolio PROVIDENCE, RI 8,1278.1k $470.6k $470.6k 0.01% Added +323 +323
32 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 7,1127.1k $411.8k $411.8k 0.00% Added +10 +10
33 Empowered Funds, LLC 0.01% of their portfolio NEWTOWN SQUARE, PA 5,9135.9k $342.4k $342.4k 0.01% Reduced -1.6k -1,563
34 StoneX Group Inc. 0.01% of their portfolio NEW YORK, NY 5,8965.9k $341.4k $341.4k 0.01% New
35 XTX Topco Ltd 0.01% of their portfolio LONDON, X0 5,6295.6k $326.0k $326.0k 0.01% New
36 Gainplan LLC 0.11% of their portfolio BLOOMFIELD HILLS, MI 5,2505.2k $304.0k $304.0k 0.11% New
37 SMITH CHAS P & ASSOCIATES PA CPAS 0.02% of their portfolio LAKELAND, FL 5,0005.0k $289.6k $289.6k 0.02% Unchanged
38 AE Wealth Management LLC 0.00% of their portfolio TOPEKA, KS 4,6284.6k $268.0k $268.0k 0.00% Added +4.6k +4,580
39 Daviman Financial, LLC 0.15% of their portfolio FISHERS, IN 4,3764.4k $253.4k $253.4k 0.15% First filing
40 Ashton Thomas Private Wealth, LLC 0.01% of their portfolio SCOTTSDALE, AZ 4,2964.3k $248.8k $248.8k 0.01% Reduced -2.6k -2,612
41 Koshinski Asset Management, Inc. 0.02% of their portfolio DECATUR, IL 4,1194.1k $238.5k $238.5k 0.02% Added +75 +75
42 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 4,0584.1k $235.0k $235.0k 0.00% Reduced -5.0k -5,042
43 TOTH FINANCIAL ADVISORY CORP 0.02% of their portfolio LEESBURG, VA 3,7253.7k $215.7k $215.7k 0.02% Reduced -25 -25
44 William Mack & Associates, Inc. 0.09% of their portfolio TROY, MI 3,4763.5k $201.3k $201.3k 0.09% New
45 COMERICA BANK 0.00% of their portfolio DALLAS, TX 2,0002.0k $115.8k $115.8k 0.00% Unchanged
46 SIMPLEX TRADING, LLC 0.00% of their portfolio CHICAGO, IL 1,9542.0k $113.2k $113.2k 0.00% New
47 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 1,7451.7k $101.1k $101.1k 0.00% Added +1 +1
48 EverSource Wealth Advisors, LLC 0.00% of their portfolio BIRMINGHAM, AL 1,2761.3k $73.9k $73.9k 0.00% Unchanged
49 O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.00% of their portfolio Stamford, CT 1,1501.1k $66.6k $66.6k 0.00% Unchanged
50 Federation des caisses Desjardins du Quebec 0.00% of their portfolio LEVIS, A8 858858 $49.7k $49.7k 0.00% Added +32 +32
51 Larson Financial Group LLC 0.00% of their portfolio ST LOUIS, MO 749749 $43.3k $43.3k 0.00% Added +3 +3
52 LM Advisors LLC 0.09% of their portfolio SAN DIEGO, CA 701701 $12.1k $12.1k 0.09% Reduced -12.4k -12,441
53 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 470470 $27.2k $27.2k 0.00% Unchanged
54 Glen Eagle Advisors, LLC 0.00% of their portfolio KINGSTON, NJ 301301 $17.4k $17.4k 0.00% Added +1 +1
55 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 200200 $11.6k $11.6k 0.00% Reduced -34 -34
56 MACQUARIE GROUP LTD 0.00% of their portfolio Sydney, NSW 2000, C3 200200 $11.6k $11.6k 0.00% Unchanged
57 SBI Securities Co., Ltd. 0.00% of their portfolio TOKYO, M0 152152 $8.8k $8.8k 0.00% Reduced -4.0k -3,980
58 Aptus Capital Advisors, LLC 0.00% of their portfolio FAIRHOPE, AL 100100 $5.8k $5.8k 0.00% Unchanged
59 MAI Capital Management 0.00% of their portfolio INDEPENDENCE, OH 4848 $2.8k $2.8k 0.00% Unchanged
60 CWM, LLC 0.00% of their portfolio OMAHA, NE 3636 $2.0k $2.0k 0.00% Reduced -2 -2
61 DV Trading LLC 0.00% of their portfolio CHICAGO, IL 2020 $1.2k $1.2k 0.00% First filing
62 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 22 $125 $125 0.00% Reduced -2 -2