ProShares Trust II

For the period ended Mar 31, 2024. Filed May 9, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 9, 2024

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

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

See the whole filing, with its images and exhibits

Contents

ProShares UltraShort Bloomberg Crude Oil

	March 31, 2024 (unaudited)	December 31, 2023
Assets
Short-term U.S. government and agency obligations (Note 3) (cost $123,822,272 and $49,673,923, respectively)	$123,814,531	$49,683,885
Cash	25,792,785	91,925,442
Segregated cash balances with brokers for futures contracts	49,385,885	49,648,726
Receivable from capital shares sold	3,980,628	—
Receivable on open futures contracts	—	654,887
Interest receivable	237,927	285,610
Total assets	203,211,756	192,198,550
Liabilities and shareholders’ equity
Liabilities
Payable for capital shares redeemed	—	3,096,091
Payable on open futures contracts	5,534,125	—
Brokerage commissions and futures account fees payable	3,387	3,509
Payable to Sponsor	161,949	135,358
Total liabilities	5,699,461	3,234,958
Commitments and Contingencies (Note 2)
Shareholders’ equity
Shareholders’ equity	197,512,295	188,963,592
Total liabilities and shareholders’ equity	$203,211,756	$192,198,550
Shares outstanding	12,405,220	9,105,220
Net asset value per share	$15.92	$20.75
Market value per share (Note 2)	$16.02	$20.89

	Principal Amount	Value
Short-term U.S. government and agency obligations
(63% of shareholders’ equity)
U.S. Treasury Bills^^:
5.365% due 04/18/24	$15,000,000	$14,962,564
5.273% due 05/14/24	20,000,000	19,874,106
5.269% due 06/06/24	40,000,000	39,617,568
5.352% due 06/18/24	25,000,000	24,717,793
5.349% due 07/09/24	25,000,000	24,642,500
Total short-term U.S. government and agency obligations (cost $123,822,272)		$123,814,531

	Number of Contracts	Notional Amount at Value	Unrealized Appreciation (Depreciation)/Value
WTI Crude Oil - NYMEX, expires June 2024	1,601	$131,954,420	$(6,262,875)
WTI Crude Oil - NYMEX, expires December 2024	1,693	131,783,120	(270,752)
WTI Crude Oil - NYMEX, expires June 2025	1,758	131,252,280	(5,461,484)
			$(11,995,111)

^^	Rates shown represent discount rate at the time of purchase.

	Three Months Ended March 31,
	2024	2023
Investment Income
Interest	$2,242,767	$2,003,209
Expenses
Management fee	451,585	484,880
Brokerage commissions	53,961	65,757
Total expenses	505,546	550,637
Net investment income (loss)	1,737,221	1,452,572
Realized and unrealized gain (loss) on investment activity
Net realized gain (loss) on
Futures contracts	(12,515,601)	27,614,279
Short-term U.S. government and agency obligations	6,779	488
Net realized gain (loss)	(12,508,822)	27,614,767
Change in net unrealized appreciation (depreciation) on
Futures contracts	(34,431,430)	10,971,115
Short-term U.S. government and agency obligations	(17,703)	(14,885)
Change in net unrealized appreciation (depreciation)	(34,449,133)	10,956,230
Net realized and unrealized gain (loss)	(46,957,955)	38,570,997
Net income (loss)	$(45,220,734)	$40,023,569

	Three Months Ended March 31,
	2024	2023
Shareholders’ equity, beginning of period	$188,963,592	$222,697,337
Addition of 8,450,000 and 5,300,000 shares, respectively	150,729,657	127,905,875
Redemption of 5,150,000 and 8,850,000 shares, respectively	(96,960,220)	(245,864,218)
Net addition (redemption) of 3,300,000 and (3,550,000) shares, respectively	53,769,437	(117,958,343)
Net investment income (loss)	1,737,221	1,452,572
Net realized gain (loss)	(12,508,822)	27,614,767
Change in net unrealized appreciation (depreciation)	(34,449,133)	10,956,230
Net income (loss)	(45,220,734)	40,023,569
Shareholders’ equity, end of period	$197,512,295	$144,762,563

	Three Months Ended March 31,
	2024	2023
Cash flow from operating activities
Net income (loss)	$(45,220,734)	$40,023,569
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	(162,869,137)	(239,587,448)
Proceeds from sales or maturities of short-term U.S. government and agency obligations	90,006,779	284,998,708
Net amortization and accretion on short-term U.S. government and agency obligations	(1,279,212)	(956,401)
Net realized (gain) loss on investments	(6,779)	(488)
Change in unrealized (appreciation) depreciation on investments	17,703	14,885
Decrease (Increase) in receivable on open futures contracts	654,887	1,604,847
Decrease (Increase) in interest receivable	47,683	103,592
Increase (Decrease) in payable to Sponsor	26,591	(68,565)
Increase (Decrease) in brokerage commissions and futures account fees payable	(122)	(727)
Increase (Decrease) in payable on open futures contracts	5,534,125	526,742
Net cash provided by (used in) operating activities	(113,088,216)	86,658,714
Cash flow from financing activities
Proceeds from addition of shares	146,749,029	109,041,151
Payment on shares redeemed	(100,056,311)	(247,121,308)
Net cash provided by (used in) financing activities	46,692,718	(138,080,157)
Net increase (decrease) in cash	(66,395,498)	(51,421,443)
Cash, beginning of period	141,574,168	139,811,511
Cash, end of period	$75,178,670	$88,390,068

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.