ProShares Ultra S&P500
228 hedge funds and large institutions have $1.42B invested in ProShares Ultra S&P500 in 2025 Q2 according to their latest regulatory filings, with 49 funds opening new positions, 75 increasing their positions, 53 reducing their positions, and 29 closing their positions.
173% more capital invested
Capital invested by funds: $520M → $1.42B (+$898M)
70% more funds holding in top 10
Funds holding in top 10: 10 → 17 (+7)
69% more first-time investments, than exits
New positions opened: 49 | Existing positions closed: 29
68% more call options, than puts
Call options by funds: $132M | Put options by funds: $78.8M
42% more repeat investments, than reductions
Existing positions increased: 75 | Existing positions reduced: 53
23.36% more ownership
Funds ownership: 21.69% → 45.05% (+23%)
8% more funds holding
Funds holding: 211 → 228 (+17)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
HCM
Howard Capital Management
Roswell,
Georgia
|
+$588M |
| 2 |
SCM
Sollinda Capital Management
Miami,
Florida
|
+$54.1M |
| 3 |
PRS
Pinkerton Retirement Specialists
Coeur D Alene,
Idaho
|
+$25.7M |
| 4 |
RAM
Revere Asset Management
Dallas,
Texas
|
+$22.9M |
| 5 |
RVM
Robinson Value Management
San Antonio,
Texas
|
+$19.9M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Goldman Sachs
New York
|
-$41.5M |
| 2 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$12.8M |
| 3 |
HCA
Harbor Capital Advisors
Chicago,
Illinois
|
-$7.85M |
| 4 |
SAM
SP Asset Management
Cupertino,
California
|
-$7.37M |
| 5 |
AA
Armis Advisers
Atlanta,
Georgia
|
-$6.74M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
TA
251
TFB Advisors
Overland Park,
Kansas
| – | -$201K | -4,864 | Closed |
|
|
CA
252
Crossingbridge Advisors
Pleasantville,
New York
| – | -$2K | -4,000 | Closed |
|
|
JFGIW
253
Johnson Financial Group Inc (Wisconsin)
Racine,
Wisconsin
| – | -$56.4K | -1,360 | Closed |
|
|
WW
254
Winnow Wealth
Waco,
Texas
| – | -$49.9K | -1,206 | Closed |
|
255
Bank of Montreal
Toronto,
Ontario, Canada
| – | -$35.2K | -850 | Closed |
|
|
M
256
MOTCO
San Antonio,
Texas
| – | -$16.6K | -400 | Closed |
|
|
AP
257
Aspect Partners
Fairfax,
Virginia
| – | -$6.04K | -146 | Closed |
|
|
PA
258
Parallel Advisors
San Francisco,
California
| – | -$63 | -2 | Closed |
|
SSO Hedge Fund Activity: Q2 2025 in Review
228 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in ProShares Ultra S&P500 (SSO) for Q2 2025, worth a combined $1.42B — up 173% from $520M a quarter earlier.
Buyers outnumbered sellers: 49 funds opened new SSO positions and 29 closed out — a net gain of 20 holders — while 75 added to existing stakes and 53 trimmed.
The largest buyer was Howard Capital Management, opening a new position worth an estimated $588M. The largest seller was Goldman Sachs, exiting entirely with an estimated $41.5M sold.
- 228 institutional investors held ProShares Ultra S&P500 (SSO) as of Q2 2025, up from 211 in Q1 2025.
- Funds reported $1.42B of ProShares Ultra S&P500 stock for Q2 2025, up 173% quarter-over-quarter.
- 49 funds opened new ProShares Ultra S&P500 positions in Q2 2025 and 29 closed out, a net change of +20 holders.
- The largest ProShares Ultra S&P500 buyer in Q2 2025 was Howard Capital Management, an estimated $588M added.
- The largest ProShares Ultra S&P500 seller in Q2 2025 was Goldman Sachs, an estimated $41.5M sold.
Based on aggregated 13F filings for Q2 2025.