ProShares UltraPro S&P 500
UPRO
146 hedge funds and large institutions have $368M invested in ProShares UltraPro S&P 500 in 2025 Q4 according to their latest regulatory filings, with 37 funds opening new positions, 29 increasing their positions, 48 reducing their positions, and 18 closing their positions.
106% more first-time investments, than exits
New positions opened: 37 | Existing positions closed: 18
100% more funds holding in top 10
Funds holding in top 10: 4 → 8 (+4)
14% more funds holding
Funds holding: 128 → 146 (+18)
3.85% less ownership
Funds ownership: 12.15% → 8.3% (-3.9%)
28% less call options, than puts
Call options by funds: $229M | Put options by funds: $316M
40% less repeat investments, than reductions
Existing positions increased: 29 | Existing positions reduced: 48
61% less capital inflows, than outflows
Capital inflows: $115M | Capital outflows: $296M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
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 |
Jump Financial
Chicago,
Illinois
|
+$3.49M |
| 5 |
BXM Wealth
Englewood,
Colorado
|
+$3.27M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Potomac Fund Management
Miami,
Florida
|
-$234M |
| 2 |
AssetMark Inc
Concord,
California
|
-$23.7M |
| 3 |
Howard Capital Management
Roswell,
Georgia
|
-$18.8M |
| 4 |
UBS Group
Zurich,
Switzerland
|
-$4.53M |
| 5 |
Quadrature Capital
London,
United Kingdom
|
-$2.08M |
UPRO Hedge Fund Activity: Q4 2025 in Review
146 of the 8,299 institutional investors tracked by Wall St. Rank reported a position in ProShares UltraPro S&P 500 (UPRO) for Q4 2025, worth a combined $368M — down 34% from $561M a quarter earlier.
Buyers outnumbered sellers: 37 funds opened new UPRO positions and 18 closed out — a net gain of 19 holders — while 29 added to existing stakes and 48 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.
- 146 institutional investors held ProShares UltraPro S&P 500 (UPRO) as of Q4 2025, up from 128 in Q3 2025.
- Funds reported $368M of ProShares UltraPro S&P 500 stock for Q4 2025, down 34% quarter-over-quarter.
- 37 funds opened new ProShares UltraPro S&P 500 positions in Q4 2025 and 18 closed out, a net change of +19 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.