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ProShares Short S&P500
SH

123 hedge funds and large institutions have $234M invested in ProShares Short S&P500 in 2025 Q2 according to their latest regulatory filings, with 32 funds opening new positions, 33 increasing their positions, 39 reducing their positions, and 43 closing their positions.

New
Increased
Maintained
Reduced
Closed

10% less funds holding

Funds holding: 136 → 123 (-13)

15% less repeat investments, than reductions

Existing positions increased: 33 | Existing positions reduced: 39

18.88% less ownership

Funds ownership: 37.13% → 18.25% (-19%)

26% less first-time investments, than exits

New positions opened: 32 | Existing positions closed: 43

45% less call options, than puts

Call options by funds: $22M | Put options by funds: $40.1M

47% less capital invested

Capital invested by funds: $441M → $234M (-$207M)

63% less funds holding in top 10

Funds holding in top 10: 8 → 3 (-5)

Holders
123
Holders Change
-13
Holders Change %
-9.56%
% of All Funds
1.62%
Holding in Top 10
3
Holding in Top 10 Change
-5
Holding in Top 10 Change %
-62.5%
% of All Funds
0.04%
New
32
Increased
33
Reduced
39
Closed
43
Calls
$22M
Puts
$40.1M
Net Calls
-$18.1M
Net Calls Change
-$37.4M

Top Buyers

Rank Fund Capital Flow
1
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$10M
2
RCP
Rothschild Capital Partners
New York
+$8.37M
3
SIM
Sterling Investment Management
Arizona
+$4.35M
4
HCM
Hilton Capital Management
New York
+$3.76M
5
GWANC
Guardian Wealth Advisors (North Carolina)
North Carolina
+$3.12M

Top Sellers

Rank Fund Capital Flow
1
SFM
Stack Financial Management
Montana
-$55.6M
2
SC
Sykon Capital
New York
-$22.3M
3
RAM
Revere Asset Management
Texas
-$18.1M
4
MCP
Mirador Capital Partners
California
-$16.5M
5
SWA
Stratos Wealth Advisors
Ohio
-$13.3M
Name Holding Trade Value Shares
Change 		Change in
Stake
DWS
51
Discipline Wealth Solutions
South Carolina
$653K -$72.4K -1,673 -9%
QCM
52
Quantinno Capital Management
New York
$595K +$649K +15,000 New
RA
53
RiverTree Advisors
Florida
$592K +$646K +14,929 New
M&T Bank
54
M&T Bank
New York
$542K +$208K +4,808 +54%
Mirae Asset Global Investments
55
Mirae Asset Global Investments
South Korea
$536K -$216K -5,000 -27%
KA
56
Kovack Advisors
Florida
$523K -$3.52M -81,350 -86%
Goldman Sachs
57
Goldman Sachs
New York
$496K – – –
ACP
58
Aviance Capital Partners
Florida
$486K +$530K +12,250 New
SMFG
59
Sumitomo Mitsui Financial Group
Japan
$476K – – –
RIM
60
RW Investment Management
Idaho
$459K – – –
BAM
61
Belpointe Asset Management
Nevada
$448K -$22.3K -516 -4%
CPP
62
Capasso Planning Partners
South Carolina
$428K +$467K +10,780 New
FC
63
Farringdon Capital
United Kingdom
$400K +$47.8K +1,105 +12%
Wealth Enhancement Advisory Services
64
Wealth Enhancement Advisory Services
Minnesota
$397K -$1.43M -33,056 -77%
MOS
65
MGO One Seven
Ohio
$396K -$7.32K -169 -2%
LGWM
66
Litman Gregory Wealth Management
California
$372K – – –
FHWM
67
Fox Hill Wealth Management
Massachusetts
$359K -$433 -10 -0.1%
Comerica Bank
68
Comerica Bank
Texas
$347K +$1.95K +45 +0.5%
AAMA
69
Advanced Asset Management Advisors
Ohio
$337K +$368K +8,500 New
ADBIC
70
A.D. Beadell Investment Counsel
Wisconsin
$337K +$130K +3,000 +55%
DS
71
DRW Securities
Illinois
$326K +$356K +8,224 New
AWA
72
Arkadios Wealth Advisors
Georgia
$322K +$351K +8,118 New
FBT
73
First Bankers Trust
Kentucky
$321K +$125K +2,885 +55%
Bank of Montreal
74
Bank of Montreal
Ontario, Canada
$319K +$322K +7,445 +1,233%
FIA
75
Foundations Investment Advisors
Arizona
$316K +$37.7K +870 +12%
1 2
3
4 5

SH Hedge Fund Activity: Q2 2025 in Review

123 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in ProShares Short S&P500 (SH) for Q2 2025, worth a combined $234M — down 47% from $441M a quarter earlier.

Sellers outnumbered buyers: 43 funds closed out of SH and 32 opened new positions — a net loss of 11 holders — while 39 trimmed existing stakes and 33 added.

The largest buyer was Susquehanna International Group, adding an estimated $10M. The largest seller was Stack Financial Management, exiting entirely with an estimated $55.6M sold.

  • 123 institutional investors held ProShares Short S&P500 (SH) as of Q2 2025, down from 136 in Q1 2025.
  • Funds reported $234M of ProShares Short S&P500 stock for Q2 2025, down 47% quarter-over-quarter.
  • 32 funds opened new ProShares Short S&P500 positions in Q2 2025 and 43 closed out, a net change of -11 holders.
  • The largest ProShares Short S&P500 buyer in Q2 2025 was Susquehanna International Group, an estimated $10M added.
  • The largest ProShares Short S&P500 seller in Q2 2025 was Stack Financial Management, an estimated $55.6M sold.

Based on aggregated 13F filings for Q2 2025.