ProShares UltraPro S&P 500
UPRO
145 hedge funds and large institutions have $367M 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.
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)
3.87% less ownership
Funds ownership: 12.15% → 8.28% (-3.9%)
28% less call options, than puts
Call options by funds: $229M | Put options by funds: $316M
35% less capital invested
Capital invested by funds: $561M → $367M (-$194M)
43% less repeat investments, than reductions
Existing positions increased: 28 | Existing positions reduced: 49
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
RVM
Robinson Value Management
San Antonio,
Texas
|
+$16.7M |
| 2 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$6.82M |
| 3 |
SFA
Spectrum Financial Alliance
Nicholasville,
Kentucky
|
+$3.94M |
| 4 |
JF
Jump Financial
Chicago,
Illinois
|
+$3.49M |
| 5 |
BW
BXM Wealth
Englewood,
Colorado
|
+$3.27M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PFM
Potomac Fund Management
Miami,
Florida
|
-$234M |
| 2 |
AssetMark Inc
Concord,
California
|
-$23.7M |
| 3 |
HCM
Howard Capital Management
Roswell,
Georgia
|
-$18.8M |
| 4 |
UBS Group
Zurich,
Switzerland
|
-$4.53M |
| 5 |
QC
Quadrature Capital
London,
United Kingdom
|
-$2.08M |
UPRO Hedge Fund Activity: Q4 2025 in Review
145 of the 8,270 institutional investors tracked by Wall St. Rank reported a position in ProShares UltraPro S&P 500 (UPRO) for Q4 2025, worth a combined $367M — down 35% 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 Robinson Value Management, opening a new position worth an estimated $16.7M. 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 $367M of ProShares UltraPro S&P 500 stock for Q4 2025, down 35% 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 Robinson Value Management, an estimated $16.7M 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.