ProShares UltraShort S&P500
SDS
61 hedge funds and large institutions have $102M invested in ProShares UltraShort S&P500 in 2025 Q1 according to their latest regulatory filings, with 26 funds opening new positions, 11 increasing their positions, 12 reducing their positions, and 28 closing their positions.
75% more capital invested
Capital invested by funds: $58.5M → $102M (+$43.8M)
67% more call options, than puts
Call options by funds: $22.7M | Put options by funds: $13.6M
2.01% more ownership
Funds ownership: 2.9% → 4.92% (+2%)
7% less first-time investments, than exits
New positions opened: 26 | Existing positions closed: 28
8% less repeat investments, than reductions
Existing positions increased: 11 | Existing positions reduced: 12
5% less funds holding
Funds holding: 64 → 61 (-3)
33% less funds holding in top 10
Funds holding in top 10: 3 → 2 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
IAN
Integrated Advisors Network
Dallas,
Texas
|
+$26.7M |
| 2 |
JF
Jump Financial
Chicago,
Illinois
|
+$9.13M |
| 3 |
VCM
Virtue Capital Management
Brentwood,
Tennessee
|
+$7.67M |
| 4 |
QC
Quadrature Capital
London,
United Kingdom
|
+$7.54M |
| 5 |
AHIA
Andrew Hill Investment Advisors
Naples,
Florida
|
+$3.4M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
IMC Chicago
Chicago,
Illinois
|
-$7.14M |
| 2 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$4.15M |
| 3 |
TSS
Two Sigma Securities
New York
|
-$3.65M |
| 4 |
LCWP
Legacy Capital Wealth Partners
Little Rock,
Arkansas
|
-$3.37M |
| 5 |
Envestnet Asset Management
Chicago,
Illinois
|
-$3.32M |
SDS Hedge Fund Activity: Q1 2025 in Review
61 of the 7,471 institutional investors tracked by Wall St. Rank reported a position in ProShares UltraShort S&P500 (SDS) for Q1 2025, worth a combined $102M — up 75% from $58.5M a quarter earlier.
Sellers outnumbered buyers: 28 funds closed out of SDS and 26 opened new positions — a net loss of 2 holders — while 12 trimmed existing stakes and 11 added.
The largest buyer was Integrated Advisors Network, adding an estimated $26.7M. The largest seller was IMC Chicago, exiting entirely with an estimated $7.14M sold.
- 61 institutional investors held ProShares UltraShort S&P500 (SDS) as of Q1 2025, down from 64 in Q4 2024.
- Funds reported $102M of ProShares UltraShort S&P500 stock for Q1 2025, up 75% quarter-over-quarter.
- 26 funds opened new ProShares UltraShort S&P500 positions in Q1 2025 and 28 closed out, a net change of -2 holders.
- The largest ProShares UltraShort S&P500 buyer in Q1 2025 was Integrated Advisors Network, an estimated $26.7M added.
- The largest ProShares UltraShort S&P500 seller in Q1 2025 was IMC Chicago, an estimated $7.14M sold.
Based on aggregated 13F filings for Q1 2025.