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ProShares UltraPro S&P 500
UPRO

96 hedge funds and large institutions have $107M invested in ProShares UltraPro S&P 500 in 2025 Q1 according to their latest regulatory filings, with 14 funds opening new positions, 26 increasing their positions, 23 reducing their positions, and 31 closing their positions.

New
Increased
Maintained
Reduced
Closed

57% more call options, than puts

Call options by funds: $159M | Put options by funds: $102M

13% more repeat investments, than reductions

Existing positions increased: 26 | Existing positions reduced: 23

7.51% less ownership

Funds ownership: 10.6% → 3.09% (-7.5%)

16% less funds holding

Funds holding: 114 → 96 (-18)

55% less first-time investments, than exits

New positions opened: 14 | Existing positions closed: 31

85% less capital invested

Capital invested by funds: $689M → $107M (-$583M)

100% less funds holding in top 10

Funds holding in top 10: 3 → 0 (-3)

Holders
96
Holders Change
-18
Holders Change %
-15.79%
% of All Funds
1.29%
Holding in Top 10
–
Holding in Top 10 Change
-3
Holding in Top 10 Change %
-100%
% of All Funds
–
New
14
Increased
26
Reduced
23
Closed
31
Calls
$159M
Puts
$102M
Net Calls
+$57.6M
Net Calls Change
-$7.37M

Top Buyers

1
IMC Chicago
IMC Chicago
Illinois
+$18.4M
2
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$14.4M
3
FTUS
Flow Traders U.S.
New York
+$4.41M
4
SFA
Spectrum Financial Alliance
Kentucky
+$2.58M
5
TRCT
Tower Research Capital (TRC)
New York
+$1.88M

Top Sellers

1
HCM
Howard Capital Management
Georgia
-$193M
2
Citadel Advisors
Citadel Advisors
Florida
-$66.4M
3
Jane Street
Jane Street
New York
-$48.3M
4
QC
Quadrature Capital
United Kingdom
-$9.71M
5
RAM
Revere Asset Management
Texas
-$8.27M
Name Holding Trade Value Shares
Change 		Change in
Stake
EIP
26
Ellis Investment Partners
Pennsylvania
$717K -$14K -160 -2%
Wolverine Trading
27
Wolverine Trading
Illinois
$673K -$4.43M -50,454 -84%
TSS
28
Two Sigma Securities
New York
$670K +$353K +4,024 +80%
BPA
29
Beacon Pointe Advisors
California
$665K – – –
FPCP
30
Fort Point Capital Partners
California
$655K – – –
TFO
31
Timonier Family Office
North Carolina
$614K – – –
EFG
32
Erickson Financial Group
Pennsylvania
$605K +$41.6K +474 +6%
WP
33
Westmount Partners
California
$588K – – –
BMCM
34
Bryn Mawr Capital Management
Pennsylvania
$586K – – –
WAAG
35
Wealth Alliance Advisory Group
Kansas
$557K +$7.2K +82 +1%
GS
36
GTS Securities
New York
$540K +$642K +7,317 New
WFA
37
WMG Financial Advisors
Tennessee
$537K – – –
Mercer Global Advisors
38
Mercer Global Advisors
Colorado
$534K +$634K +7,222 New
RCM
39
Ridgepath Capital Management
Tennessee
$501K -$22.5K -256 -4%
WIA
40
World Investment Advisors
California
$485K +$166K +1,889 +40%
AWM
41
Axxcess Wealth Management
California
$470K – – –
ATPW
42
Ashton Thomas Private Wealth
Arizona
$451K -$2.96M -33,748 -85%
AFA
43
American Financial Advisors
Georgia
$447K – – –
UWP
44
Uniting Wealth Partners
Kansas
$443K +$527K +6,000 New
KL
45
KWMG LLC
Kansas
$408K +$34.2K +390 +8%
FLPIM
46
F.L. Putnam Investment Management
Massachusetts
$396K – – –
SG
47
StoneX Group
New York
$381K +$229K +2,610 +103%
HPBT
48
Hickory Point Bank & Trust
Illinois
$366K – – –
FPL
49
Fortress Private Ledger
North Carolina
$355K +$167K +1,902 +65%
IAS
50
Insigneo Advisory Services
Florida
$349K – – –
1
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3 4 5

UPRO Hedge Fund Activity: Q1 2025 in Review

96 of the 7,457 institutional investors tracked by Wall St. Rank reported a position in ProShares UltraPro S&P 500 (UPRO) for Q1 2025, worth a combined $107M — down 85% from $689M a quarter earlier.

Sellers outnumbered buyers: 31 funds closed out of UPRO and 14 opened new positions — a net loss of 17 holders — while 23 trimmed existing stakes and 26 added.

The largest buyer was IMC Chicago, opening a new position worth an estimated $18.4M. The largest seller was Howard Capital Management, exiting entirely with an estimated $193M sold.

  • 96 institutional investors held ProShares UltraPro S&P 500 (UPRO) as of Q1 2025, down from 114 in Q4 2024.
  • Funds reported $107M of ProShares UltraPro S&P 500 stock for Q1 2025, down 85% quarter-over-quarter.
  • 14 funds opened new ProShares UltraPro S&P 500 positions in Q1 2025 and 31 closed out, a net change of -17 holders.
  • The largest ProShares UltraPro S&P 500 buyer in Q1 2025 was IMC Chicago, an estimated $18.4M added.
  • The largest ProShares UltraPro S&P 500 seller in Q1 2025 was Howard Capital Management, an estimated $193M sold.

Based on aggregated 13F filings for Q1 2025.