Vault-13

PROSHARES TR SPXU

ULTRAPRO SHORT S · ETP · CUSIP 74349Y845

45 institutional holders +3 vs Q4 2024
4,732,8354.7m shares reported held*
$120.6mreported value*
16 new 12 added 7 reduced 12 sold out net bought ≈ $59.2m (+2.3m 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 ≈ $25.47. Options: 6 managers hold calls ($49.4m notional), 5 hold puts ($27.3m).

Trends to Q1 2025

Institutional holders

Managers reporting a position, each quarter

0204060Q1 23: 1Q2 23: 1Q3 23: 1Q4 23: 0Q1 24: 6Q2 24: 35Q3 24: 39Q4 24: 42Q1 25: 4545Q1 23Q3 23Q1 24Q3 24Q1 25
Numbers
QuarterHolders
Q1 20231
Q2 20231
Q3 20231
Q4 20230
Q1 20246
Q2 202435
Q3 202439
Q4 202442
Q1 202545

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q2 23: 0 bought or addedQ2 23: 0 cut or sold outQ3 23: 0 bought or addedQ3 23: 0 cut or sold outQ3 23Q4 23: 0 bought or addedQ4 23: 1 cut or sold outQ1 24: 5 bought or addedQ1 24: 0 cut or sold outQ1 24Q2 24: 31 bought or addedQ2 24: 6 cut or sold outQ3 24: 19 bought or addedQ3 24: 17 cut or sold outQ3 24Q4 24: 19 bought or addedQ4 24: 19 cut or sold outQ1 25: 28 bought or addedQ1 25: 19 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q2 202300
Q3 202300
Q4 202301
Q1 202450
Q2 2024316
Q3 20241917
Q4 20241919
Q1 20252819

Calls vs puts

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

CallsPuts
$0$20m$40m$60mQ2 24 calls: $33.0mQ2 24 puts: $8.7mQ2 24P/C 0.26Q3 24 calls: $36.8mQ3 24 puts: $8.3mQ3 24P/C 0.22Q4 24 calls: $29.3mQ4 24 puts: $8.8mQ4 24P/C 0.30Q1 25 calls: $49.4mQ1 25 puts: $27.3mQ1 25P/C 0.55
Numbers
QuarterCallsPutsP/C
Q2 2024$33.0m$8.7m0.26
Q3 2024$36.8m$8.3m0.22
Q4 2024$29.3m$8.8m0.30
Q1 2025$49.4m$27.3m0.55

Biggest buyers

CITADEL ADVISORS LLC Added +979,034+979.0k
Jump Financial, LLC New +685,678+685.7k
Quadrature Capital Ltd New +419,765+419.8k
BOOTHBAY FUND MANAGEMENT, LLC New +256,464+256.5k
JANE STREET GROUP, LLC Added +242,589+242.6k
NorthCoast Asset Management LLC New +213,118+213.1k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +96,444+96.4k
Squarepoint Ops LLC Added +77,162+77.2k
Gainplan LLC New +75,000+75.0k
Beacon Capital Management, Inc. New +45,000+45.0k

Biggest sellers

IMC-Chicago, LLC Sold out -210,483-210.5k
GTS SECURITIES LLC Sold out -193,203-193.2k
Ridgepath Capital Management LLC Sold out -182,507-182.5k
AXXCESS WEALTH MANAGEMENT, LLC Sold out -182,507-182.5k
Headlands Technologies LLC Reduced -56,654-56.7k
TWO SIGMA SECURITIES, LLC Sold out -31,983-32.0k
Sollinda Capital Management LLC Sold out -27,153-27.2k
Integrated Advisors Network LLC Sold out -23,500-23.5k
UBS Group AG Reduced -14,299-14.3k
Scientech Research LLC Sold out -12,644-12.6k

Biggest calls

CITADEL ADVISORS LLC Added $28.4m1.1m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $12.1m473.9k shares
WOLVERINE TRADING, LLC Added $4.5m173.3k shares
JANE STREET GROUP, LLC Added $4.1m161.3k shares
HOLLENCREST CAPITAL MANAGEMENT New $255.3k10.0k shares
UBS Group AG Unchanged $2.6k100 shares

Biggest puts

CITADEL ADVISORS LLC Added $21.6m845.1k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $3.3m130.0k shares
WOLVERINE TRADING, LLC Reduced $1.1m43.9k shares
Squarepoint Ops LLC Reduced $862.9k33.8k shares
JANE STREET GROUP, LLC Reduced $398.3k15.6k 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, Q1 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 CITADEL ADVISORS LLC 0.04% of their portfolio MIAMI, FL 1,453,0651.5m $37.1m $37.1m 0.04% Added +979.0k +979,034
2 Jump Financial, LLC 0.26% of their portfolio Chicago, IL 685,678685.7k $17.5m $17.5m 0.26% New
3 Cadent Capital Advisors, LLC 5.11% of their portfolio TULSA, OK 527,078527.1k $13.5m $13.5m 5.11% Added +22.0k +21,997
4 Quadrature Capital Ltd 0.24% of their portfolio LONDON, X0 419,765419.8k $10.7m $10.7m 0.24% New
5 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 319,187319.2k $8.1m $8.1m 0.01% Added +242.6k +242,589
6 BOOTHBAY FUND MANAGEMENT, LLC 0.23% of their portfolio NEW YORK, NY 256,464256.5k $6.5m $6.5m 0.23% New
7 NorthCoast Asset Management LLC 0.03% of their portfolio STAMFORD, CT 213,118213.1k $5.4m $5.4m 0.03% New
8 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 167,204167.2k $4.3m $4.3m 0.01% Added +96.4k +96,444
9 Squarepoint Ops LLC 0.01% of their portfolio NEW YORK, NY 166,676166.7k $4.3m $4.3m 0.01% Added +77.2k +77,162
10 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 100,000100.0k $2.6m $2.6m 0.00% First filing
11 Gainplan LLC 1.25% of their portfolio BLOOMFIELD HILLS, MI 75,00075.0k $1.9m $1.9m 1.25% New
12 SIMPLEX TRADING, LLC 0.04% of their portfolio CHICAGO, IL 48,68348.7k $1.2m $1.2m 0.04% Added +37.6k +37,574
13 GW HENSSLER & ASSOCIATES LTD 0.07% of their portfolio KENNESAW, GA 48,18548.2k $1.2m $1.2m 0.07% Added +11.6k +11,553
14 Beacon Capital Management, Inc. 0.04% of their portfolio DAYTON, OH 45,00045.0k $864.5k $864.5k 0.04% New
15 Tower Research Capital LLC (TRC) 0.03% of their portfolio NEW YORK, NY 42,43442.4k $1.1m $1.1m 0.03% Added +2.9k +2,882
16 DRW Securities, LLC 0.08% of their portfolio CHICAGO, IL 36,37536.4k $928.7k $928.7k 0.08% New
17 FLOW TRADERS U.S. LLC 0.04% of their portfolio NEW YORK, NY 32,89732.9k $840.0k $840.0k 0.04% New
18 WOLVERINE TRADING, LLC 0.01% of their portfolio CHICAGO, IL 16,59616.6k $431.5k $431.5k 0.01% New
19 Headlands Technologies LLC 0.05% of their portfolio CHICAGO, IL 15,55215.6k $397.0k $397.0k 0.05% Reduced -56.7k -56,654
20 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 13,58913.6k $346.9k $346.9k 0.00% New
21 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 11,29911.3k $288.5k $288.5k 0.00% Unchanged
22 Larson Financial Group LLC 0.01% of their portfolio ST LOUIS, MO 10,96811.0k $280.0k $280.0k 0.01% Added +6.5k +6,510
23 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 10,66510.7k $272.3k $272.3k 0.00% Reduced -877 -877
24 EverSource Wealth Advisors, LLC 0.01% of their portfolio BIRMINGHAM, AL 5,2255.2k $133.4k $133.4k 0.01% Added +5.2k +5,225
25 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 2,6632.7k $68.0k $68.0k 0.00% Reduced -40 -40
26 UBS Group AG 0.00% of their portfolio ZURICH, V8 2,2852.3k $58.3k $58.3k 0.00% Reduced -14.3k -14,299
27 GROUP ONE TRADING LLC 0.00% of their portfolio CHICAGO, IL 1,8401.8k $47.0k $47.0k 0.00% New
28 RAELIPSKIE PARTNERSHIP 0.02% of their portfolio WATERLOO, A6 1,2001.2k $30.7k $30.7k 0.02% New
29 Safe Harbor Fiduciary, LLC 0.02% of their portfolio PENSACOLA, FL 778778 $19.9k $19.9k 0.02% Unchanged
30 WealthTrak Capital Management LLC 0.02% of their portfolio VIRGINIA BEACH, VA 722722 $18.4k $18.4k 0.02% New
31 ORG Partners LLC 0.00% of their portfolio ROANOKE, IN 705705 $17.8k $17.8k 0.00% New
32 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 622622 $15.9k $15.9k 0.00% Unchanged
33 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 538538 $13.7k $13.7k 0.00% Added +526 +526
34 HOLLENCREST CAPITAL MANAGEMENT 0.00% of their portfolio NEWPORT BEACH, CA 380380 $9.7k $9.7k 0.00% New
35 SBI Securities Co., Ltd. 0.00% of their portfolio TOKYO, M0 118118 $3.0k $3.0k 0.00% Reduced -126 -126
36 MACQUARIE GROUP LTD 0.00% of their portfolio Sydney, NSW 2000, C3 100100 $2.6k $2.6k 0.00% New
37 AMERICAN NATIONAL BANK & TRUST 0.00% of their portfolio WICHITA FALLS, TX 4848 $1.2k $1.2k 0.00% Unchanged
38 CoreCap Advisors, LLC 0.00% of their portfolio SOUTHFIELD, MI 4343 $1.1k $1.1k 0.00% Unchanged
39 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 3333 $842 $842 0.00% Added +21 +21
40 Legacy Wealth Managment, LLC/ID 0.00% of their portfolio BOISE, ID 3030 $766 $766 0.00% Unchanged
41 Strategic Investment Solutions, Inc. /IL 0.00% of their portfolio ORLAND PARK, IL 2020 $511 $511 0.00% Unchanged
42 SIGNATUREFD, LLC 0.00% of their portfolio ATLANTA, GA 66 $153 $153 0.00% Unchanged
43 Allworth Financial LP 0.00% of their portfolio FOLSOM, CA 11 $25 $25 0.00% Reduced -3 -3
44 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged
45 Activest Wealth Management 0.00% of their portfolio AVENTURA, FL 00 $3 $3 0.00% Reduced -1 -1