ProShares UltraShort S&P500
SDS
56 hedge funds and large institutions have $74.5M invested in ProShares UltraShort S&P500 in 2025 Q3 according to their latest regulatory filings, with 23 funds opening new positions, 9 increasing their positions, 14 reducing their positions, and 14 closing their positions.
66% more capital invested
Capital invested by funds: $45M → $74.5M (+$29.5M)
64% more first-time investments, than exits
New positions opened: 23 | Existing positions closed: 14
19% more funds holding
Funds holding: 47 → 56 (+9)
4.96% more ownership
Funds ownership: 10.82% → 15.78% (+5%)
0% more funds holding in top 10
Funds holding in top 10: 2 → 2 (0)
36% less repeat investments, than reductions
Existing positions increased: 9 | Existing positions reduced: 14
60% less call options, than puts
Call options by funds: $10.3M | Put options by funds: $25.4M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Sollinda Capital Management
Miami,
Florida
|
+$20.7M |
| 2 |
RCM
Ridgepath Capital Management
Knoxville,
Tennessee
|
+$9.46M |
| 3 |
CCP
Clough Capital Partners
Boston,
Massachusetts
|
+$7.47M |
| 4 |
AWM
Axxcess Wealth Management
Carlsbad,
California
|
+$4.69M |
| 5 |
CAG
Csenge Advisory Group
Clearwater,
Florida
|
+$4.16M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BFIC
Bedell Frazier Investment Counselling
Walnut Creek,
California
|
-$5.27M |
| 2 |
TJHA
Thomas J. Herzfeld Advisors
Miami Beach,
Florida
|
-$2.21M |
| 3 |
IMC Chicago
Chicago,
Illinois
|
-$1.73M |
| 4 |
Jane Street
New York
|
-$1.53M |
| 5 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$1.22M |
SDS Hedge Fund Activity: Q3 2025 in Review
56 of the 7,641 institutional investors tracked by Wall St. Rank reported a position in ProShares UltraShort S&P500 (SDS) for Q3 2025, worth a combined $74.5M — up 66% from $45M a quarter earlier.
Buyers outnumbered sellers: 23 funds opened new SDS positions and 14 closed out — a net gain of 9 holders — while 9 added to existing stakes and 14 trimmed.
The largest buyer was Sollinda Capital Management, opening a new position worth an estimated $20.7M. The largest seller was Bedell Frazier Investment Counselling, exiting entirely with an estimated $5.27M sold.
- 56 institutional investors held ProShares UltraShort S&P500 (SDS) as of Q3 2025, up from 47 in Q2 2025.
- Funds reported $74.5M of ProShares UltraShort S&P500 stock for Q3 2025, up 66% quarter-over-quarter.
- 23 funds opened new ProShares UltraShort S&P500 positions in Q3 2025 and 14 closed out, a net change of +9 holders.
- The largest ProShares UltraShort S&P500 buyer in Q3 2025 was Sollinda Capital Management, an estimated $20.7M added.
- The largest ProShares UltraShort S&P500 seller in Q3 2025 was Bedell Frazier Investment Counselling, an estimated $5.27M sold.
Based on aggregated 13F filings for Q3 2025.