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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
SWM
101
Segment Wealth Management
Texas
$211K – – –
SWP
102
Stratos Wealth Partners
Ohio
$209K -$114 -1 -0.1%
FI
103
Financial Insights
Washington
$208K – – –
GOCP
104
Great Oak Capital Partners
Massachusetts
$205K +$202K +1,765 New
HFS
105
Hantz Financial Services
Michigan
$184K +$41K +359 +29%
CIBC Private Wealth Group
106
CIBC Private Wealth Group
Georgia
$180K +$114 +1 +0.1%
William Blair & Company
107
William Blair & Company
Illinois
$139K -$36.8K -322 -21%
EI
108
EFG International
$110K +$109K +952 New
PWA
109
Physician Wealth Advisors
Utah
$109K +$114 +1 +0.1%
PWM
110
Provident Wealth Management
Tennessee
$79.3K -$150K -1,315 -66%
SS
111
SBI Securities
Japan
$75.4K -$3.54K -31 -5%
Morgan Stanley
112
Morgan Stanley
New York
$63.2K +$1.14K +10 +2%
NA
113
NewEdge Advisors
Louisiana
$55.6K -$22.9K -200 -29%
MSFP
114
Mark Sheptoff Financial Planning
Connecticut
$52.4K – – –
FDCDDQ
115
Federation des caisses Desjardins du Quebec
Quebec, Canada
$45.8K +$37.3K +326 +466%
GJIA
116
Glass Jacobson Investment Advisors
Maryland
$38.9K – – –
S
117
SignatureFD
Georgia
$36.8K -$11K -96 -23%
AF
118
Allworth Financial
California
$32.2K -$36.5K -319 -53%
DI
119
DAGCO Inc
Ohio
$29.2K +$114 +1 +0.4%
OWP
120
ORG Wealth Partners
Texas
$29.2K – – –
KAS
121
Kestra Advisory Services
Texas
$28.2K +$27.9K +244 New
OSAM
122
O'Shaughnessy Asset Management
Connecticut
$27.9K +$27.5K +241 New
GWM
123
Geneos Wealth Management
Colorado
$18.2K – – –
BTI
124
Blue Trust Inc
Georgia
$15K +$14.9K +130 New
Bessemer Group
125
Bessemer Group
New Jersey
$13K +$12.5K +109 New
3 4
5
6 7

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.