ProShares Trust II

For the period ended Dec 31, 2023. Filed Feb 28, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 28, 2024

SCO$20.19+2.3%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

ProShares Ultra Euro

	December 31, 2023	December 31, 2022
Assets
Cash	$6,162,459	$9,156,418
Segregated cash balances with brokers for foreign currency forward contracts	623,000	1,103,000
Unrealized appreciation on foreign currency forward contracts	308,424	514,115
Interest receivable	27,219	40,421
Total assets	7,121,102	10,813,954
Liabilities and shareholders’ equity
Liabilities
Payable to Sponsor	5,612	10,833
Unrealized depreciation on foreign currency forward contracts	1,475	98,459
Total liabilities	7,087	109,292
Commitments and Contingencies (Note 2)
Shareholders’ equity
Shareholders’ equity	7,114,015	10,704,662
Total liabilities and shareholders’ equity	$7,121,102	$10,813,954
Shares outstanding	600,000	950,000
Net asset value per share	$11.86	$11.27
Market value per share (Note 2)	$11.84	$11.26

Foreign Currency Forward Contracts^
	Settlement Date	Contract Amount in Local Currency	Contract Amount in U.S. Dollars	Unrealized Appreciation (Depreciation)/ Value
Contracts to Purchase
Euro with Goldman Sachs International	01/19/24	6,949,921	$7,678,634	$164,104
Euro with UBS AG	01/19/24	6,107,502	6,747,886	144,320
			Total Unrealized Appreciation	$308,424
Contracts to Sell
Euro with Goldman Sachs International	01/19/24	(102,000)	$(112,695)	$(1,432)
Euro with UBS AG	01/19/24	(75,000)	(82,864)	(43)
			Total Unrealized Depreciation	$(1,475)

^	The positions and counterparties herein are as of December 31, 2023. The Fund continually evaluates different counterparties for their transactions and counterparties are subject to change. New counterparties can be added at any time.

Foreign Currency Forward Contracts^
	Settlement Date	Contract Amount in Local Currency	Contract Amount in U.S. Dollars	Unrealized Appreciation (Depreciation)/ Value
Contracts to Purchase
Euro with Goldman Sachs International	01/13/23	13,074,921	$14,009,271	$217,491
Euro with UBS AG	01/13/23	18,393,502	19,707,925	296,624
			Total Unrealized Appreciation	$514,115
Contracts to Sell
Euro with UBS AG	01/13/23	(11,492,000)	$(12,313,233)	$(98,459)
			Total Unrealized Depreciation	$(98,459)

^	The positions and counterparties herein are as of December 31, 2022. The Fund continually evaluates different counterparties for their transactions and counterparties are subject to change. New counterparties can be added at any time.

	Year Ended December 31,
	2023	2022	2021
Investment Income
Interest	$343,876	$149,251	$1,922
Expenses
Management fee	77,062	100,481	37,450
Non-recurring fees and expenses	—	588	—
Total expenses	77,062	101,069	37,450
Net investment income (loss)	266,814	48,182	(35,528)
Realized and unrealized gain (loss) on investment activity
Net realized gain (loss) on
Foreign currency forward contracts	293,493	(953,353)	(500,185)
Short-term U.S. government and agency obligations	—	(5,949)	1,250
Net realized gain (loss)	293,493	(959,302)	(498,935)
Change in net unrealized appreciation (depreciation) on
Foreign currency forward contracts	(108,707)	333,004	(6,084)
Short-term U.S. government and agency obligations	—	452	(452)
Change in net unrealized appreciation (depreciation)	(108,707)	333,456	(6,536)
Net realized and unrealized gain (loss)	184,786	(625,846)	(505,471)
Net income (loss)	$451,600	$(577,664)	$(540,999)

	Year Ended December 31,
	2023	2022	2021
Shareholders’ equity, beginning of period	$10,704,662	$8,659,095	$4,737,350
Addition of 300,000, 1,550,000 and 500,000 shares, respectively	3,458,223	16,600,027	6,745,474
Redemption of 650,000, 1,250,000 and 150,000 shares, respectively	(7,500,470)	(13,976,796)	(2,282,730)
Net addition (redemption) of (350,000), 300,000 and 350,000 shares, respectively	(4,042,247)	2,623,231	4,462,744
Net investment income (loss)	266,814	48,182	(35,528)
Net realized gain (loss)	293,493	(959,302)	(498,935)
Change in net unrealized appreciation (depreciation)	(108,707)	333,456	(6,536)
Net income (loss)	451,600	(577,664)	(540,999)
Shareholders’ equity, end of period	$7,114,015	$10,704,662	$8,659,095

	Year Ended December 31,
	2023	2022	2021
Cash flow from operating activities
Net income (loss)	$451,600	$(577,664)	$(540,999)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Purchases of short-term U.S. government and agency obligations	—	(5,984,289)	(4,997,449)
Proceeds from sales or maturities of short-term U.S. government and agency obligations	—	6,988,249	4,001,250
Net amortization and accretion on short-term U.S. government and agency obligations	—	(11,779)	(681)
Net realized (gain) loss on investments	—	5,949	(1,250)
Change in unrealized (appreciation) depreciation on investments	108,707	(333,456)	6,536
Decrease (Increase) in interest receivable	13,202	(40,268)	9
Increase (Decrease) in payable to Sponsor	(5,221)	6,987	221
Increase (Decrease) in non-recurring fees and expenses payable	—	—	(15)
Net cash provided by (used in) operating activities	568,288	53,729	(1,532,378)
Cash flow from financing activities
Proceeds from addition of shares	3,458,223	16,600,027	6,745,474
Payment on shares redeemed	(7,500,470)	(13,976,796)	(2,282,730)
Net cash provided by (used in) financing activities	(4,042,247)	2,623,231	4,462,744
Net increase (decrease) in cash	(3,473,959)	2,676,960	2,930,366
Cash, beginning of period	10,259,418	7,582,458	4,652,092
Cash, end of period	$6,785,459	$10,259,418	$7,582,458

ContentsView on SEC.gov

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