ProShares Short S&P500
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.
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)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$10M |
| 2 |
RCP
Rothschild Capital Partners
New York
|
+$8.37M |
| 3 |
SIM
Sterling Investment Management
Tucson,
Arizona
|
+$4.35M |
| 4 |
HCM
Hilton Capital Management
Garden City,
New York
|
+$3.76M |
| 5 |
GWANC
Guardian Wealth Advisors (North Carolina)
Raleigh,
North Carolina
|
+$3.12M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SFM
Stack Financial Management
Whitefish,
Montana
|
-$55.6M |
| 2 |
SC
Sykon Capital
Harrison,
New York
|
-$22.3M |
| 3 |
RAM
Revere Asset Management
Dallas,
Texas
|
-$18.1M |
| 4 |
MCP
Mirador Capital Partners
Pleasanton,
California
|
-$16.5M |
| 5 |
SWA
Stratos Wealth Advisors
Beachwood,
Ohio
|
-$13.3M |
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.