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ProShares UltraPro S&P 500
UPRO

145 hedge funds and large institutions have $370M invested in ProShares UltraPro S&P 500 in 2025 Q4 according to their latest regulatory filings, with 36 funds opening new positions, 28 increasing their positions, 49 reducing their positions, and 18 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more funds holding in top 10

Funds holding in top 10: 4 → 8 (+4)

100% more first-time investments, than exits

New positions opened: 36 | Existing positions closed: 18

13% more funds holding

Funds holding: 128 → 145 (+17)

3.4% less ownership

Funds ownership: 12.15% → 8.75% (-3.4%)

28% less call options, than puts

Call options by funds: $229M | Put options by funds: $316M

34% less capital invested

Capital invested by funds: $561M → $370M (-$192M)

43% less repeat investments, than reductions

Existing positions increased: 28 | Existing positions reduced: 49

Holders
145
Holders Change
+17
Holders Change %
+13.28%
% of All Funds
1.76%
Holding in Top 10
8
Holding in Top 10 Change
+4
Holding in Top 10 Change %
+100%
% of All Funds
0.1%
New
36
Increased
28
Reduced
49
Closed
18
Calls
$229M
Puts
$316M
Net Calls
-$87.1M
Net Calls Change
-$36.6M

Top Buyers

1
BW
BXM Wealth
Colorado
+$23M
2
RVM
Robinson Value Management
Texas
+$16.7M
3
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$6.82M
4
SFA
Spectrum Financial Alliance
Kentucky
+$3.94M
5
JF
Jump Financial
Illinois
+$3.49M

Top Sellers

1
PFM
Potomac Fund Management
Florida
-$234M
2
AssetMark Inc
AssetMark Inc
California
-$23.7M
3
HCM
Howard Capital Management
Georgia
-$18.8M
4
UBS Group
UBS Group
Switzerland
-$4.53M
5
QC
Quadrature Capital
United Kingdom
-$2.08M
Name Holding Trade Value Shares
Change 		Change in
Stake
GFG
76
GR Financial Group
Arizona
$377K +$82.5K +722 +28%
FFA
77
Farther Finance Advisors
California
$370K +$16.1K +141 +5%
JWCA
78
J.W. Cole Advisors
Florida
$360K +$1.03K +9 +0.3%
BCM
79
Brookstone Capital Management
Illinois
$356K +$351K +3,072 New
OC
80
Optima Capital
Oregon
$354K +$349K +3,054 New
BPWM
81
Badgley Phelps Wealth Managers
Washington
$347K +$343K +3,000 New
AssetMark Inc
82
AssetMark Inc
California
$341K -$23.7M -207,546 -99%
NHC
83
Nicholas Hoffman & Company
Georgia
$333K – – –
MFA
84
Mayflower Financial Advisors
Massachusetts
$327K -$7.54K -66 -2%
Bank of America
85
Bank of America
North Carolina
$327K +$153K +1,341 +90%
EFS
86
Essex Financial Services
Connecticut
$314K +$1.26K +11 +0.4%
DF
87
Daviman Financial
Indiana
$299K +$295K +2,584 New
STA
88
Summit Trail Advisors
New York
$291K – – –
BNP Paribas Financial Markets
89
BNP Paribas Financial Markets
France
$279K +$275K +2,410 New
VH
90
Visionary Horizons
Tennessee
$263K – – –
CCA
91
Cadent Capital Advisors
Oklahoma
$258K +$254K +2,226 New
HCM
92
Howland Capital Management
Massachusetts
$252K – – –
MFP
93
Meramec Financial Planners
Missouri
$244K +$235K +2,057 New
SWM
94
Spire Wealth Management
Virginia
$232K -$22.6K -198 -9%
MCCA
95
Mill Creek Capital Advisors
Pennsylvania
$232K – – –
BlackRock
96
BlackRock
New York
$232K -$114K -1,000 -33%
HighTower Advisors
97
HighTower Advisors
Illinois
$223K +$221K +1,930 New
Northwestern Mutual Wealth Management
98
Northwestern Mutual Wealth Management
Wisconsin
$222K -$5.49K -48 -2%
Goldman Sachs
99
Goldman Sachs
New York
$220K – – –
CAPTRUST Financial Advisors
100
CAPTRUST Financial Advisors
North Carolina
$216K +$2.86K +25 +1%
2 3
4
5 6

UPRO Hedge Fund Activity: Q4 2025 in Review

145 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in ProShares UltraPro S&P 500 (UPRO) for Q4 2025, worth a combined $370M — down 34% from $561M a quarter earlier.

Buyers outnumbered sellers: 36 funds opened new UPRO positions and 18 closed out — a net gain of 18 holders — while 28 added to existing stakes and 49 trimmed.

The largest buyer was BXM Wealth, opening a new position worth an estimated $23M. The largest seller was Potomac Fund Management, exiting entirely with an estimated $234M sold.

  • 145 institutional investors held ProShares UltraPro S&P 500 (UPRO) as of Q4 2025, up from 128 in Q3 2025.
  • Funds reported $370M of ProShares UltraPro S&P 500 stock for Q4 2025, down 34% quarter-over-quarter.
  • 36 funds opened new ProShares UltraPro S&P 500 positions in Q4 2025 and 18 closed out, a net change of +18 holders.
  • The largest ProShares UltraPro S&P 500 buyer in Q4 2025 was BXM Wealth, an estimated $23M added.
  • The largest ProShares UltraPro S&P 500 seller in Q4 2025 was Potomac Fund Management, an estimated $234M sold.

Based on aggregated 13F filings for Q4 2025.