ProShares Trust II

For the period ended Jun 30, 2024. Filed Aug 8, 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.

Jun 30, 2024 · Filed Aug 8, 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 UltraShort Bloomberg Crude Oil

	June 30, 2024 (unaudited)	December 31, 2023
Assets
Short-term U.S. government and agency obligations (Note 3) (cost $104,415,710 and $49,673,923, respectively)	$104,416,492	$49,683,885
Cash	26,671,542	91,925,442
Segregated cash balances with brokers for futures contracts	45,576,696	49,648,726
Receivable on open futures contracts	970,109	654,887
Interest receivable	273,758	285,610
Total assets	177,908,597	192,198,550
Liabilities and shareholders’ equity
Liabilities
Payable for capital shares redeemed	—	3,096,091
Payable on open futures contracts	152,793	—
Brokerage commissions and futures account fees payable	—	3,509
Payable to Sponsor	135,766	135,358
Total liabilities	288,559	3,234,958
Commitments and Contingencies (Note 2)
Shareholders’ equity
Shareholders’ equity	177,620,038	188,963,592
Total liabilities and shareholders’ equity	$177,908,597	$192,198,550
Shares outstanding	11,405,220	9,105,220
Net asset value per share	$15.57	$20.75
Market value per share (Note 2)	$15.57	$20.89

	Principal Amount	Value
Short-term U.S. government and agency obligations
(59% of shareholders’ equity)
U.S. Treasury Bills^^:
5.304% due 07/09/24	$50,000,000	$49,941,835
5.327% due 09/05/24	55,000,000	54,474,657
Total short-term U.S. government and agency obligations (cost $104,415,710)		$104,416,492

	Number of Contracts	Notional Amount at Value	Unrealized Appreciation (Depreciation)/Value
WTI Crude Oil - NYMEX, expires September 2024	1,443	$116,363,520	$(9,530,240)
WTI Crude Oil - NYMEX, expires December 2024	1,526	119,546,840	(28,150)
WTI Crude Oil - NYMEX, expires June 2025	1,585	119,287,100	(3,997,339)
			$(13,555,729)

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

	Three Months Ended June 30,		Six Months Ended June 30,
	2024	2023	2024	2023
Investment Income
Interest	$2,290,280	$1,560,028	$4,533,047	$3,563,237
Expenses
Management fee	440,755	359,177	892,340	844,057
Brokerage commissions	43,839	60,079	97,800	125,836
Total expenses	484,594	419,256	990,140	969,893
Net investment income (loss)	1,805,686	1,140,772	3,542,907	2,593,344
Realized and unrealized gain (loss) on investment activity
Net realized gain (loss) on
Futures contracts	(143,424)	28,046,795	(12,659,025)	55,661,074
Short-term U.S. government and agency obligations	—	(12,271)	6,779	(11,783)
Net realized gain (loss)	(143,424)	28,034,524	(12,652,246)	55,649,291
Change in net unrealized appreciation (depreciation) on
Futures contracts	(1,560,618)	(8,229,852)	(35,992,048)	2,741,263
Short-term U.S. government and agency obligations	8,523	13,244	(9,180)	(1,641)
Change in net unrealized appreciation (depreciation)	(1,552,095)	(8,216,608)	(36,001,228)	2,739,622
Net realized and unrealized gain (loss)	(1,695,519)	19,817,916	(48,653,474)	58,388,913
Net income (loss)	$110,167	$20,958,688	$(45,110,567)	$60,982,257

	Three Months Ended June 30,		Six Months Ended June 30,
	2024	2023	2024	2023
Shareholders’ equity, beginning of period	$197,512,295	$144,762,563	$188,963,592	$222,697,337
Addition of 4,200,000, 6,250,000, 12,650,000 and 11,550,000 shares, respectively	65,709,408	149,281,563	216,439,065	277,187,438
Redemption of 5,200,000, 7,600,000, 10,350,000 and 16,450,000 shares, respectively	(85,711,832)	(202,147,862)	(182,672,052)	(448,012,080)
Net addition (redemption) of (1,000,000), (1,350,000), 2,300,000 and (4,900,000) shares, respectively	(20,002,424)	(52,866,299)	33,767,013	(170,824,642)
Net investment income (loss)	1,805,686	1,140,772	3,542,907	2,593,344
Net realized gain (loss)	(143,424)	28,034,524	(12,652,246)	55,649,291
Change in net unrealized appreciation (depreciation)	(1,552,095)	(8,216,608)	(36,001,228)	2,739,622
Net income (loss)	110,167	20,958,688	(45,110,567)	60,982,257
Shareholders’ equity, end of period	$177,620,038	$112,854,952	$177,620,038	$112,854,952

	Six Months Ended June 30,
	2024	2023
Cash flow from operating activities
Net income (loss)	$(45,110,567)	$60,982,257
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	(242,128,850)	(378,541,825)
Proceeds from sales or maturities of short-term U.S. government and agency obligations	190,006,779	394,924,819
Net amortization and accretion on short-term U.S. government and agency obligations	(2,612,937)	(1,821,563)
Net realized (gain) loss on investments	(6,779)	11,783
Change in unrealized (appreciation) depreciation on investments	9,180	1,641
Decrease (Increase) in receivable on open futures contracts	(315,222)	1,604,847
Decrease (Increase) in interest receivable	11,852	265,587
Increase (Decrease) in payable to Sponsor	408	(111,014)
Increase (Decrease) in brokerage commissions and futures account fees payable	(3,509)	(220)
Increase (Decrease) in payable on open futures contracts	152,793	(5,802,618)
Net cash provided by (used in) operating activities	(99,996,852)	71,513,694
Cash flow from financing activities
Proceeds from addition of shares	216,439,065	274,667,692
Payment on shares redeemed	(185,768,143)	(444,081,787)
Net cash provided by (used in) financing activities	30,670,922	(169,414,095)
Net increase (decrease) in cash	(69,325,930)	(97,900,401)
Cash, beginning of period	141,574,168	139,811,511
Cash, end of period	$72,248,238	$41,911,110

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.