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ProShares Ultra S&P500
SSO

211 hedge funds and large institutions have $520M invested in ProShares Ultra S&P500 in 2025 Q1 according to their latest regulatory filings, with 27 funds opening new positions, 57 increasing their positions, 68 reducing their positions, and 48 closing their positions.

New
Increased
Maintained
Reduced
Closed

55% more call options, than puts

Call options by funds: $83.2M | Put options by funds: $53.6M

11% less funds holding

Funds holding: 238 → 211 (-27)

13.25% less ownership

Funds ownership: 34.93% → 21.69% (-13%)

16% less repeat investments, than reductions

Existing positions increased: 57 | Existing positions reduced: 68

23% less funds holding in top 10

Funds holding in top 10: 13 → 10 (-3)

44% less first-time investments, than exits

New positions opened: 27 | Existing positions closed: 48

88% less capital invested

Capital invested by funds: $4.43B → $520M (-$3.91B)

Holders
211
Holders Change
-27
Holders Change %
-11.34%
% of All Funds
2.83%
Holding in Top 10
10
Holding in Top 10 Change
-3
Holding in Top 10 Change %
-23.08%
% of All Funds
0.13%
New
27
Increased
57
Reduced
68
Closed
48
Calls
$83.2M
Puts
$53.6M
Net Calls
+$29.7M
Net Calls Change
-$13.4M

Top Buyers

Rank Fund Capital Flow
1
Goldman Sachs
Goldman Sachs
New York
+$46.3M
2
MFGM
Marshall Financial Group (Maryland)
Maryland
+$15.1M
3
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$13.2M
4
NIA
NBZ Investment Advisors
Tennessee
+$13M
5
HCA
Harbor Capital Advisors
Illinois
+$8.75M

Top Sellers

Rank Fund Capital Flow
1
HCM
Howard Capital Management
Georgia
-$172M
2
CI
CacheTech Inc
Utah
-$49.9M
3
AWM
Adams Wealth Management
Utah
-$49.5M
4
AssetMark Inc
AssetMark Inc
California
-$41.9M
5
CFIM
Client First Investment Management
Wisconsin
-$35.9M
Name Holding Trade Value Shares
Change 		Change in
Stake
LWMI
201
Legacy Wealth Management (Idaho)
Idaho
$7.12K -$277 -6 -3%
ACA
202
American Capital Advisory
Idaho
$6.62K – – –
AP
203
Aspect Partners
Virginia
$6.04K +$2.86K +62 +74%
CA
204
Crossingbridge Advisors
New York
$2K +$185K +4,000 New
SRCM
205
Signature Resources Capital Management
California
$1.16K – – –
OSAM
206
O'Shaughnessy Asset Management
Connecticut
$828 – – –
AIC
207
Archer Investment Corporation
Indiana
$667 – – –
WGS
208
Washington Growth Strategies
District of Columbia
$214 +$7.66K +166 New
HNB
209
Huntington National Bank
Ohio
$83 – – –
Wells Fargo
210
Wells Fargo
California
$64 -$92 -2 -50%
PA
211
Parallel Advisors
California
$63 +$92 +2 New
AWM
212
Activest Wealth Management
Florida
$12 – – –
HCM
213
Howard Capital Management
Georgia
– -$172M -3,709,600 Closed
CI
214
CacheTech Inc
Utah
– -$49.9M -1,078,300 Closed
AWM
215
Adams Wealth Management
Utah
– -$49.5M -1,070,754 Closed
CFIM
216
Client First Investment Management
Wisconsin
– -$35.9M -776,016 Closed
PRS
217
Pinkerton Retirement Specialists
Idaho
– -$13.2M -284,716 Closed
ETC
218
Exchange Traded Concepts
Oklahoma
– -$6.71M -145,086 Closed
HSBC Holdings
219
HSBC Holdings
United Kingdom
– -$4.63M -100,000 Closed
TSW
220
Three Seasons Wealth
Utah
– -$4.57M -98,790 Closed
Wolverine Trading
221
Wolverine Trading
Illinois
– -$4.5M -96,576 Closed
CCFM
222
Clear Creek Financial Management
Washington
– -$2.26M -48,870 Closed
GAA
223
Global Assets Advisory
Florida
– -$2.15M -46,624 Closed
I
224
INVST
Indiana
– -$1.85M -40,016 Closed
ACM
225
Arlington Capital Management
Illinois
– -$1.25M -27,070 Closed
7 8
9
10 11

SSO Hedge Fund Activity: Q1 2025 in Review

211 of the 7,459 institutional investors tracked by Wall St. Rank reported a position in ProShares Ultra S&P500 (SSO) for Q1 2025, worth a combined $520M — down 88% from $4.43B a quarter earlier.

Sellers outnumbered buyers: 48 funds closed out of SSO and 27 opened new positions — a net loss of 21 holders — while 68 trimmed existing stakes and 57 added.

The largest buyer was Goldman Sachs, opening a new position worth an estimated $46.3M. The largest seller was Howard Capital Management, exiting entirely with an estimated $172M sold.

  • 211 institutional investors held ProShares Ultra S&P500 (SSO) as of Q1 2025, down from 238 in Q4 2024.
  • Funds reported $520M of ProShares Ultra S&P500 stock for Q1 2025, down 88% quarter-over-quarter.
  • 27 funds opened new ProShares Ultra S&P500 positions in Q1 2025 and 48 closed out, a net change of -21 holders.
  • The largest ProShares Ultra S&P500 buyer in Q1 2025 was Goldman Sachs, an estimated $46.3M added.
  • The largest ProShares Ultra S&P500 seller in Q1 2025 was Howard Capital Management, an estimated $172M sold.

Based on aggregated 13F filings for Q1 2025.