ProShares Trust II
For the period ended Sep 30, 2024. Filed Nov 18, 2024.
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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.
Sep 30, 2024 · Filed Nov 18, 2024
SCO$19.74+5.2%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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ProShares Trust II
COMBINED STATEMENTS OF FINANCIAL CONDITION
| September 30,2024(unaudited) | December 31,2023 | |
|---|---|---|
| (As Restated) | ||
| Assets | ||
| Short-term U.S. government and agency obligations (Note 3) (cost $1,658,590,645 and $690,346,244, respectively) | $1,658,822,420 | $690,474,277 |
| Cash | 999,910,891 | 1,209,034,101 |
| Segregated cash balances with brokers for futures contracts | 745,036,746 | 1,029,381,720 |
| Segregated cash balances with brokers for foreign currency forward contracts | 14,337,802 | 13,366,243 |
| Segregated cash balances with brokers for swap agreements | 17,559,822 | 345,924,043 |
| Unrealized appreciation on swap agreements | 102,834,722 | 21,033,528 |
| Unrealized appreciation on foreign currency forward contracts | 68,080 | 2,011,074 |
| Receivable from capital shares sold | 2,725,965 | 22,784,178 |
| Receivable on open futures contracts | 31,980,250 | 29,722,683 |
| Interest receivable | 5,658,092 | 6,486,760 |
| Total assets | 3,578,934,790 | 3,370,218,607 |
| Liabilities and shareholders’ equity | ||
| Liabilities | ||
| Payable for capital shares redeemed | 74,197,661 | 39,357,935 |
| Payable on open futures contracts | 25,850,918 | 38,056,063 |
| Brokerage commissions and futures account fees payable | 45,738 | 131,497 |
| Payable to Sponsor | 2,577,570 | 2,654,226 |
| Unrealized depreciation on swap agreements | 6,208,155 | 3,841,216 |
| Unrealized depreciation on foreign currency forward contracts | 843,214 | 3,345,544 |
| Total liabilities | 109,723,256 | 87,386,481 |
| Commitments and Contingencies (Note 2) | ||
| Shareholders’ equity | ||
| Shareholders’ equity | 3,469,211,534 | 3,282,832,126 |
| Total liabilities and shareholders’ equity | $3,578,934,790 | $3,370,218,607 |
| Shares outstanding (Note 8) | 92,561,599 | 82,617,848 |
COMBINED STATEMENTS OF OPERATIONS
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Investment Income | ||||
| Interest | $39,528,194 | $33,986,958 | $106,909,661 | $103,035,154 |
| Expenses | ||||
| Management fee | 7,995,932 | 8,433,063 | 22,614,312 | 27,104,933 |
| Brokerage commissions | 2,024,482 | 1,640,018 | 5,855,049 | 6,556,137 |
| Futures account fees | 171,268 | 313,663 | 571,653 | 1,142,555 |
| Total expenses | 10,191,682 | 10,386,744 | 29,041,014 | 34,803,625 |
| Net investment income (loss) | 29,336,512 | 23,600,214 | 77,868,647 | 68,231,529 |
| Realized and unrealized gain (loss) on investment activity | ||||
| Net realized gain (loss) on | ||||
| Futures contracts | (307,323,493) | 14,374,480 | (402,765,202) | (1,974,626,401) |
| Swap agreements | (135,617,033) | 190,429,303 | 101,481,166 | 153,509,127 |
| Foreign currency forward contracts | 685,622 | 1,079,187 | (706,613) | (1,741,651) |
| Short-term U.S. government and agency obligations | (2,730) | 205 | 68,411 | (195,666) |
| Net realized gain (loss) | (442,257,634) | 205,883,175 | (301,922,238) | (1,823,054,591) |
| Change in net unrealized appreciation (depreciation) on | ||||
| Futures contracts | 310,081,124 | (202,241,004) | 140,846,867 | 135,612,832 |
| Swap agreements | 92,748,602 | (41,076,901) | 79,434,255 | (138,058,422) |
| Foreign currency forward contracts | (1,808,721) | 1,962,662 | 559,336 | 5,654,285 |
| Short-term U.S. government and agency obligations | 229,199 | (111,348) | 103,742 | (62,102) |
| Change in net unrealized appreciation (depreciation) | 401,250,204 | (241,466,591) | 220,944,200 | 3,146,593 |
| Net realized and unrealized gain (loss) | (41,007,430) | (35,583,416) | (80,978,038) | (1,819,907,998) |
| Net income (loss) | $(11,670,918) | $(11,983,202) | $(3,109,391) | $(1,751,676,469) |
COMBINED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Shareholders’ equity, beginning of period | $3,121,155,340 | $3,753,845,537 | $3,282,832,126 | $3,887,786,746 |
| Addition of 74,300,000, 38,976,250, 159,240,000 and 138,056,250 shares, respectively (Note 1) (Note 8) | 2,755,933,016 | 1,835,741,719 | 6,212,835,038 | 8,495,699,775 |
| Redemption 64,667,500, 42,587,747, 149,296,248 and 148,559,747 shares, respectively (Note 1) (Note 8) | (2,396,205,904) | (2,277,144,677) | (6,023,346,239) | (7,331,350,675) |
| Net addition (redemption) of 9,632,500, (3,611,497), 9,943,752 and (10,503,497) shares, respectively (Note 1) (Note 8) | 359,727,112 | (441,402,958) | 189,488,799 | 1,164,349,100 |
| Net investment income (loss) | 29,336,512 | 23,600,214 | 77,868,647 | 68,231,529 |
| Net realized gain (loss) | (442,257,634) | 205,883,175 | (301,922,238) | (1,823,054,591) |
| Change in net unrealized appreciation (depreciation) | 401,250,204 | (241,466,591) | 220,944,200 | 3,146,593 |
| Net income (loss) | (11,670,918) | (11,983,202) | (3,109,391) | (1,751,676,469) |
| Shareholders’ equity, end of period | $3,469,211,534 | $3,300,459,377 | $3,469,211,534 | $3,300,459,377 |
COMBINED STATEMENTS OF CASH FLOWS
| Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2024 | 2023 | |
| (As Restated) | ||
| Cash flow from operating activities | ||
| Net income (loss) | $(3,109,391) | $(1,751,676,469) |
| 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 | (5,040,839,051) | (27,871,422,186) |
| Proceeds from sales or maturities of short-term U.S. government and agency obligations | 4,121,998,020 | 28,009,309,658 |
| Net amortization and accretion on short-term U.S. government and agency obligations | (49,334,959) | (46,469,916) |
| Net realized (gain) loss on investments | (68,411) | 195,666 |
| Change in unrealized (appreciation) depreciation on investments | (80,097,333) | 132,466,239 |
| Decrease (Increase) in receivable on futures contracts | (2,257,567) | 28,145,391 |
| Decrease (Increase) in interest receivable | 828,668 | 435,945 |
| Increase (Decrease) in payable to Sponsor | (76,656) | (599,647) |
| Increase (Decrease) in brokerage commissions and futures account fees payable | (85,759) | (59,363) |
| Increase (Decrease) in payable on futures contracts | (12,205,145) | 12,701,692 |
| Net cash provided by (used in) operating activities | (1,065,247,584) | (1,486,972,990) |
| Cash flow from financing activities | ||
| Proceeds from addition of shares | 6,232,893,251 | 8,465,504,170 |
| Payment on shares redeemed | (5,988,506,513) | (7,316,198,861) |
| Net cash provided by (used in) financing activities | 244,386,738 | 1,149,305,309 |
| Net increase (decrease) in cash | (820,860,846) | (337,667,681) |
| Cash, beginning of period | 2,597,706,107 | 2,276,152,772 |
| Cash, end of period | $1,776,845,261 | $1,938,485,091 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.