Vault-13

PROSHARES TR UPRO

ULTRPRO S&P500 · ETP · CUSIP 74347X864

121 institutional holders -24 vs Q4 2025
1,499,4161.5m shares reported held*
$146.0mreported value*
14 new 43 added 33 reduced 36 sold out net sold ≈ $162.0m (-2.1m 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 ≈ $97.39. Options: 3 managers hold calls ($212.6m notional), 4 hold puts ($193.3m).

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

050100150Q3 22: 65Q4 22: 89Q1 23: 86Q2 23: 90Q3 23: 96Q4 23: 102Q1 24: 101Q2 24: 104Q3 24: 113Q4 24: 117Q1 25: 98Q2 25: 117Q3 25: 129Q4 25: 145Q1 26: 121121Q3 22Q3 23Q3 24Q3 25Q1 26
Numbers
QuarterHolders
Q3 202265
Q4 202289
Q1 202386
Q2 202390
Q3 202396
Q4 2023102
Q1 2024101
Q2 2024104
Q3 2024113
Q4 2024117
Q1 202598
Q2 2025117
Q3 2025129
Q4 2025145
Q1 2026121

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q2 24: 38 bought or addedQ2 24: 48 cut or sold outQ3 24: 53 bought or addedQ3 24: 44 cut or sold outQ3 24Q4 24: 47 bought or addedQ4 24: 58 cut or sold outQ1 25: 41 bought or addedQ1 25: 55 cut or sold outQ1 25Q2 25: 73 bought or addedQ2 25: 33 cut or sold outQ3 25: 64 bought or addedQ3 25: 53 cut or sold outQ3 25Q4 25: 56 bought or addedQ4 25: 67 cut or sold outQ1 26: 57 bought or addedQ1 26: 69 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 20243848
Q3 20245344
Q4 20244758
Q1 20254155
Q2 20257333
Q3 20256453
Q4 20255667
Q1 20265769

Calls vs puts

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

CallsPuts
$0$100m$200m$300m$400mQ2 25 calls: $210.9mQ2 25 puts: $134.8mQ2 25P/C 0.64Q3 25 calls: $266.9mQ3 25 puts: $317.5mQ3 25P/C 1.19Q4 25 calls: $229.1mQ4 25 puts: $316.2mQ4 25P/C 1.38Q1 26 calls: $212.6mQ1 26 puts: $193.3mQ1 26P/C 0.91
Numbers
QuarterCallsPutsP/C
Q2 2025$210.9m$134.8m0.64
Q3 2025$266.9m$317.5m1.19
Q4 2025$229.1m$316.2m1.38
Q1 2026$212.6m$193.3m0.91

Biggest buyers

GOLDMAN SACHS GROUP INC Added +48,846+48.8k
Tower Research Capital LLC (TRC) Added +39,995+40.0k
IMC-Chicago, LLC New +33,148+33.1k
FLOW TRADERS U.S. LLC Added +31,248+31.2k
PNC Financial Services Group, Inc. New +29,066+29.1k
UBS Group AG Added +25,408+25.4k
GTS SECURITIES LLC New +21,922+21.9k
Mariner, LLC Added +20,022+20.0k
Squarepoint Ops LLC New +19,053+19.1k
MFG WEALTH MANAGEMENT, INC. New +17,541+17.5k

Biggest sellers

Howard Capital Management, LLC Sold out -1,025,589-1.0m
Turner Capital Investments, LLC Sold out -525,554-525.6k
AXXCESS WEALTH MANAGEMENT, LLC Sold out -198,096-198.1k
BXM Wealth LLC Reduced -182,824-182.8k
Robinson Value Management, Ltd. Sold out -146,158-146.2k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -43,036-43.0k
Ridgepath Capital Management LLC Reduced -38,730-38.7k
Jump Financial, LLC Sold out -30,559-30.6k
Encompass More Asset Management Sold out -27,208-27.2k
Headlands Technologies LLC Sold out -22,087-22.1k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $76.6m789.9k shares
CITADEL ADVISORS LLC Added $75.2m775.5k shares
JANE STREET GROUP, LLC Reduced $60.8m626.6k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $114.0m1.2m shares
CITADEL ADVISORS LLC Reduced $50.8m523.4k shares
JANE STREET GROUP, LLC Reduced $28.0m288.8k shares
Beacon Pointe Advisors, LLC Unchanged $552.8k5.7k 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, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Revere Asset Management, Inc 9.04% of their portfolio DALLAS, TX 181,937181.9k $17.6m $17.6m 9.04% Reduced -15.4k -15,380
2 Ridgepath Capital Management LLC 8.16% of their portfolio Knoxville, TN 169,217169.2k $16.4m $16.4m 8.16% Reduced -38.7k -38,730
3 Spectrum Financial Alliance Ltd LLC 2.42% of their portfolio NICHOLASVILLE, KY 129,902129.9k $12.6m $12.6m 2.42% Added +4.3k +4,306
4 Tower Research Capital LLC (TRC) 0.17% of their portfolio NEW YORK, NY 67,23967.2k $6.5m $6.5m 0.17% Added +40.0k +39,995
5 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 50,74650.7k $4.9m $4.9m 0.00% Added +48.8k +48,846
6 FLOW TRADERS U.S. LLC 0.15% of their portfolio NEW YORK, NY 49,76049.8k $4.8m $4.8m 0.15% Added +31.2k +31,248
7 Main Street Group, LTD 1.34% of their portfolio GLEN ALLEN, VA 46,89646.9k $4.5m $4.5m 1.34% Reduced -3.5k -3,465
8 DIVERSIFIED TRUST CO 0.08% of their portfolio MEMPHIS, TN 43,00043.0k $4.2m $4.2m 0.08% Reduced -7.0k -7,000
9 UBS Group AG 0.00% of their portfolio ZURICH, V8 34,44834.4k $3.3m $3.3m 0.00% Added +25.4k +25,408
10 IMC-Chicago, LLC 0.05% of their portfolio CHICAGO, IL 33,14833.1k $3.2m $3.2m 0.05% New
11 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 29,06629.1k $2.8m $2.8m 0.00% New
12 Mariner, LLC 0.00% of their portfolio Overland Park, KS 28,73728.7k $2.8m $2.8m 0.00% Added +20.0k +20,022
13 Ascentis Independent Advisors 0.20% of their portfolio DALLAS, TX 27,94027.9k $2.7m $2.7m 0.20% Added +13.7k +13,718
14 Uniting Wealth Partners, LLC 0.54% of their portfolio DENVER, CO 26,00026.0k $2.5m $2.5m 0.54% Added +5.0k +5,000
15 Millington Financial Advisors, LLC 1.37% of their portfolio NAPERVILLE, IL 25,51925.5k $3.3m $3.3m 1.37% Reduced -401 -401
16 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 25,33825.3k $2.5m $2.5m 0.00% Reduced -12.3k -12,268
17 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 23,75423.8k $2.1m $2.1m 0.00% Added +4.4k +4,371
18 INDEPENDENT FINANCIAL GROUP, LLC 0.05% of their portfolio SAN DIEGO, CA 23,59523.6k $2.3m $2.3m 0.05% Reduced -288 -288
19 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 23,30523.3k $2.3m $2.3m 0.00% Reduced -43.0k -43,036
20 GTS SECURITIES LLC 0.08% of their portfolio NEW YORK, NY 21,92221.9k $2.1m $2.1m 0.08% New
21 Safe Harbor Fiduciary, LLC 1.82% of their portfolio PENSACOLA, FL 19,69319.7k $1.9m $1.9m 1.82% Reduced -143 -143
22 Corient Private Wealth LP 0.00% of their portfolio MIAMI, FL 19,27519.3k $1.9m $1.9m 0.00% Reduced -20.9k -20,930
23 Squarepoint Ops LLC 0.00% of their portfolio NEW YORK, NY 19,05319.1k $1.8m $1.8m 0.00% New
24 BXM Wealth LLC 1.40% of their portfolio Englewood, CO 18,79918.8k $1.8m $1.8m 1.40% Reduced -182.8k -182,824
25 DeDora Capital, Inc. 0.43% of their portfolio Napa, CA 18,28018.3k $1.8m $1.8m 0.43% Unchanged
26 EverSource Wealth Advisors, LLC 0.05% of their portfolio BIRMINGHAM, AL 17,56817.6k $1.7m $1.7m 0.05% Added +2.0k +1,982
27 MFG WEALTH MANAGEMENT, INC. 1.41% of their portfolio Indianapolis, IN 17,54117.5k $1.7m $1.7m 1.41% New
28 Lido Advisors, LLC 0.01% of their portfolio Los Angeles, CA 16,52216.5k $1.6m $1.6m 0.01% Reduced -2.2k -2,191
29 TOTH FINANCIAL ADVISORY CORP 0.15% of their portfolio LEESBURG, VA 13,63113.6k $1.3m $1.3m 0.15% Reduced -484 -484
30 XTX Topco Ltd 0.02% of their portfolio LONDON, X0 10,33210.3k $1.0m $1.0m 0.02% Added +5.9k +5,864
31 Koshinski Asset Management, Inc. 0.06% of their portfolio DECATUR, IL 10,29210.3k $998.1k $998.1k 0.06% Added +6.0k +5,975
32 Howard Capital Management Group, LLC 0.06% of their portfolio Los Angeles, CA 10,00010.0k $969.8k $969.8k 0.06% Unchanged
33 Meridian Wealth Management, LLC 0.03% of their portfolio LEXINGTON, KY 9,3329.3k $905.0k $905.0k 0.03% New
34 World Investment Advisors 0.01% of their portfolio LINCROFT, NJ 9,1969.2k $891.8k $891.8k 0.01% Added +17 +17
35 Beacon Pointe Advisors, LLC 0.00% of their portfolio NEWPORT BEACH, CA 8,9989.0k $872.6k $872.6k 0.00% Added +418 +418
36 FORTRESS PRIVATE LEDGER, LLC 0.27% of their portfolio RALEIGH, NC 8,8008.8k $853.4k $853.4k 0.27% Added +747 +747
37 Westmount Partners, LLC 0.20% of their portfolio LOS ANGELES, CA 8,4868.5k $823.0k $823.0k 0.20% Added +109 +109
38 Ellis Investment Partners, LLC 0.13% of their portfolio Berwyn, PA 7,6707.7k $743.9k $743.9k 0.13% Reduced -2.4k -2,351
39 Sound Income Strategies, LLC 0.03% of their portfolio FT LAUDERDALE, FL 7,2667.3k $720.6k $720.6k 0.03% Unchanged
40 Bryn Mawr Trust Advisors, LLC 0.03% of their portfolio PHILADELPHIA, PA 7,0297.0k $681.7k $681.7k 0.03% Reduced -900 -900
41 Erickson Financial Group, LLC 0.42% of their portfolio ALLENTOWN, PA 6,9527.0k $674.2k $674.2k 0.42% Added +211 +211
42 KWMG, LLC 0.06% of their portfolio OVERLAND PARK, KS 6,8406.8k $663.4k $663.4k 0.06% Added +13 +13
43 Vontobel Holding Ltd. 0.00% of their portfolio ZURICH, V8 6,8006.8k $659.5k $659.5k 0.00% New
44 American Financial Advisors, LLC 0.08% of their portfolio Marietta, GA 5,9576.0k $577.7k $577.7k 0.08% Unchanged
45 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 5,8285.8k $565.2k $565.2k 0.00% Reduced -965 -965
46 FLPUTNAM INVESTMENT MANAGEMENT CO 0.01% of their portfolio PORTLAND, ME 5,3675.4k $520.5k $520.5k 0.01% Reduced -436 -436
47 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 4,9545.0k $491.3k $491.3k 0.00% Added +1.8k +1,761
48 Quantinno Capital Management LP 0.00% of their portfolio NEW YORK, NY 4,9184.9k $476.9k $476.9k 0.00% Unchanged
49 HARBOUR INVESTMENTS, INC. 0.01% of their portfolio MADISON, WI 4,8614.9k $471.4k $471.4k 0.01% Added +4.8k +4,850
50 Hickory Point Bank & Trust 0.31% of their portfolio DECATUR, IL 4,8454.8k $469.9k $469.9k 0.31% Reduced -200 -200
51 INSIGNEO ADVISORY SERVICES, LLC 0.03% of their portfolio MIAMI, FL 4,7194.7k $457.6k $457.6k 0.03% Unchanged
52 SYM FINANCIAL Corp 0.05% of their portfolio WINONA LAKE, IN 4,6934.7k $455.1k $455.1k 0.05% Unchanged
53 Calamos Advisors LLC 0.00% of their portfolio NAPERVILLE, IL 4,5624.6k $442.4k $442.4k 0.00% New
54 Calamos Wealth Management LLC 0.02% of their portfolio NAPERVILLE, IL 4,5624.6k $442.4k $442.4k 0.02% Unchanged
55 Sollinda Capital Management LLC 0.11% of their portfolio HICKORY, NC 4,5444.5k $440.7k $440.7k 0.11% Reduced -1.7k -1,653
56 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 4,4814.5k $434.5k $434.5k 0.00% Added +982 +982
57 Badgley Phelps Wealth Managers, LLC 0.01% of their portfolio SEATTLE, WA 4,3854.4k $425.3k $425.3k 0.01% Added +1.4k +1,385
58 Mittelman Wealth Management 0.26% of their portfolio ANDOVER, MA 4,3454.3k $421.4k $421.4k 0.26% Unchanged
59 Dedeker Financial LLC 0.36% of their portfolio ST. LOUIS PARK, MN 4,2904.3k $416.1k $416.1k 0.36% Reduced -867 -867
60 Wealth Alliance Advisory Group, LLC 0.07% of their portfolio Wichita, KS 4,2474.2k $411.9k $411.9k 0.07% Added +5 +5
61 MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio DENVER, CO 4,2104.2k $408.3k $408.3k 0.00% Reduced -367 -367
62 CreativeOne Wealth, LLC 0.01% of their portfolio OVERLAND PARK, KS 3,9293.9k $381.0k $381.0k 0.01% Added +275 +275
63 Larson Financial Group LLC 0.01% of their portfolio ST LOUIS, MO 3,6413.6k $353.1k $353.1k 0.01% Added +8 +8
64 Nicholas Hoffman & Company, LLC. 0.01% of their portfolio ATLANTA, GA 3,6103.6k $350.1k $350.1k 0.01% Added +733 +733
65 OPTIMA CAPITAL LLC 0.15% of their portfolio PORTLAND, OR 3,3633.4k $326.1k $326.1k 0.15% Added +309 +309
66 J.W. COLE ADVISORS, INC. 0.01% of their portfolio TAMPA, FL 3,1163.1k $302.2k $302.2k 0.01% Added +8 +8
67 CHOREO, LLC 0.00% of their portfolio ROCKFORD, IL 3,0843.1k $299.1k $299.1k 0.00% Reduced -651 -651
68 LexAurum Advisors, LLC 0.04% of their portfolio OVERLAND PARK, KS 2,8322.8k $274.6k $274.6k 0.04% First filing
69 ASSETMARK, INC 0.00% of their portfolio CONCORD, CA 2,7972.8k $271.3k $271.3k 0.00% Reduced -146 -146
70 Mayflower Financial Advisors, LLC 0.03% of their portfolio BOSTON, MA 2,7812.8k $269.7k $269.7k 0.03% Reduced -43 -43
71 TWO SIGMA SECURITIES, LLC 0.03% of their portfolio NEW YORK, NY 2,5952.6k $251.7k $251.7k 0.03% New
72 Essex Financial Services, Inc. 0.01% of their portfolio ESSEX, CT 2,5842.6k $250.6k $250.6k 0.01% Reduced -126 -126
73 Daviman Financial, LLC 0.15% of their portfolio FISHERS, IN 2,5812.6k $250.3k $250.3k 0.15% Reduced -3 -3
74 Summit Trail Advisors, LLC 0.00% of their portfolio NEW YORK, NY 2,5182.5k $244.2k $244.2k 0.00% Unchanged
75 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 2,3332.3k $231.8k $231.8k 0.00% New
76 Visionary Horizons, LLC 0.11% of their portfolio Knoxville, TN 2,2752.3k $220.6k $220.6k 0.11% Unchanged
77 Spire Wealth Management 0.01% of their portfolio MCLEAN, VA 2,2572.3k $218.9k $218.9k 0.01% Added +250 +250
78 Avidian Wealth Enterprises, LLC 0.01% of their portfolio Houston, TX 2,2262.2k $215.9k $215.9k 0.01% New
79 HOWLAND CAPITAL MANAGEMENT LLC 0.01% of their portfolio BOSTON, MA 2,1742.2k $210.8k $210.8k 0.01% Unchanged
80 Segment Wealth Management, LLC 0.01% of their portfolio HOUSTON, TX 2,0652.1k $200.3k $200.3k 0.01% Added +240 +240
81 Meramec Financial Planners, LLC 0.10% of their portfolio SAINT LOUIS, MO 2,0572.1k $256.1k $256.1k 0.10% Unchanged
82 BlackRock, Inc. 0.00% of their portfolio New York, NY 2,0002.0k $194.0k $194.0k 0.00% Unchanged
83 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 1,9151.9k $185.7k $185.7k 0.00% Unchanged
84 Optiver Holding B.V. 0.01% of their portfolio AMSTERDAM, P7 1,7181.7k $166.6k $166.6k 0.01% New
85 HANTZ FINANCIAL SERVICES, INC. 0.00% of their portfolio SOUTHFIELD, MI 1,5911.6k $154.0k $154.0k 0.00% Added +4 +4
86 Ashton Thomas Private Wealth, LLC 0.00% of their portfolio SCOTTSDALE, AZ 1,5881.6k $154.0k $154.0k 0.00% Reduced -2.0k -1,969
87 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,0061.0k $97.6k $97.6k 0.00% Added +461 +461
88 BLAIR WILLIAM & CO/IL 0.00% of their portfolio CHICAGO, IL 1,0001.0k $97.0k $97.0k 0.00% Reduced -200 -200
89 Physician Wealth Advisors, Inc. 0.01% of their portfolio MIDVALE, UT 956956 $92.7k $92.7k 0.01% Added +11 +11
90 LM Advisors LLC 0.05% of their portfolio SAN DIEGO, CA 921921 $9.5k $9.5k 0.05% Added +259 +259
91 Allworth Financial LP 0.00% of their portfolio FOLSOM, CA 752752 $72.9k $72.9k 0.00% Added +474 +474
92 Provident Wealth Management, LLC 0.02% of their portfolio BRENTWOOD, TN 685685 $66.4k $66.4k 0.02% Unchanged
93 SBI Securities Co., Ltd. 0.00% of their portfolio TOKYO, M0 632632 $61.3k $61.3k 0.00% Reduced -19 -19
94 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 480480 $46.5k $46.5k 0.00% Unchanged
95 Federation des caisses Desjardins du Quebec 0.00% of their portfolio LEVIS, A8 431431 $41.8k $41.8k 0.00% Added +35 +35
96 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 400400 $38.9k $38.9k 0.00% Added +388 +388
97 SIGNATUREFD, LLC 0.00% of their portfolio ATLANTA, GA 388388 $37.7k $37.7k 0.00% Added +70 +70
98 Glass Jacobson Investment Advisors llc 0.01% of their portfolio OWINGS MILLS, MD 374374 $36.3k $36.3k 0.01% Added +38 +38
99 DAGCO, INC. 0.01% of their portfolio WESTLAKE, OH 253253 $24.6k $24.6k 0.01% Unchanged
100 Ascentis Wealth Management, LLC 0.00% of their portfolio DALLAS, TX 252252 $24.5k $24.5k 0.00% Added +1 +1