ProShares Trust II
For the period ended Sep 30, 2024. Filed Nov 18, 2024.
View on SEC.govAbout 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.
Sep 30, 2024 · Filed Nov 18, 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 exhibitsContents
ProShares Ultra Bloomberg Natural Gas
| September 30, 2024(unaudited) | December 31,2023 | |
|---|---|---|
| (As Restated) | ||
| Assets | ||
| Short-term U.S. government and agency obligations (Note 3) (cost $323,763,134 and $64,445,510, respectively) | $323,797,810 | $64,459,117 |
| Cash | 139,227,354 | 326,252,692 |
| Segregated cash balances with brokers for futures contracts | 216,166,129 | 374,861,689 |
| Receivable from capital shares sold | — | 4,281,925 |
| Receivable on open futures contracts | 22,694,887 | — |
| Interest receivable | 921,495 | 1,925,643 |
| Total assets | 702,807,675 | 771,781,066 |
| Liabilities and shareholders’ equity | ||
| Liabilities | ||
| Payable for capital shares redeemed | 50,484,250 | 19,366,361 |
| Payable on open futures contracts | — | 21,843,883 |
| Brokerage commissions and futures account fees payable | 14,136 | 52,349 |
| Payable to Sponsor | 488,184 | 625,665 |
| Total liabilities | 50,986,570 | 41,888,258 |
| Commitments and Contingencies (Note 2) | ||
| Shareholders’ equity | ||
| Shareholders’ equity | 651,821,105 | 729,892,808 |
| Total liabilities and shareholders’ equity | $702,807,675 | $771,781,066 |
| Shares outstanding (Note 8) | 11,103,709 | 5,113,709 |
| Net asset value per share (Note 8) | $58.70 | $142.73 |
| Market value per share (Note 8) (Note 2) | $58.00 | $142.20 |
| Principal Amount | Value | |
|---|---|---|
| Short-term U.S. government and agency obligations | ||
| (50% of shareholders’ equity) | ||
| U.S. Treasury Bills^^: | ||
| 5.256% due 10/10/24 | $100,000,000 | $99,883,610 |
| 5.226% due 10/24/24 | 75,000,000 | 74,773,410 |
| 5.120% due 11/05/24 | 50,000,000 | 49,774,350 |
| 4.801% due 11/19/24 | 100,000,000 | 99,366,440 |
| Total short-term U.S. government and agency obligations (cost $323,763,134) | $323,797,810 | |
| Number of Contracts | Notional Amount at Value | Unrealized Appreciation (Depreciation)/Value | |
|---|---|---|---|
| Natural Gas - NYMEX, expires November 2024 | 44,626 | $1,304,417,980 | $107,189,385 |
| ^^ | Rates shown represent discount rate at the time of purchase. |
|---|
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Investment Income | ||||
| Interest | $7,125,254 | $9,098,504 | $19,996,081 | $26,923,732 |
| Expenses | ||||
| Management fee | 1,479,083 | 2,303,082 | 4,252,390 | 7,220,063 |
| Brokerage commissions | 681,738 | 629,541 | 2,170,207 | 2,727,691 |
| Futures account fees | 46,576 | 131,828 | 188,737 | 531,306 |
| Total expenses | 2,207,397 | 3,064,451 | 6,611,334 | 10,479,060 |
| Net investment income (loss) | 4,917,857 | 6,034,053 | 13,384,747 | 16,444,672 |
| Realized and unrealized gain (loss) on investment activity | ||||
| Net realized gain (loss) on | ||||
| Futures contracts | (372,130,469) | 221,454,698 | (402,539,202) | (1,418,539,604) |
| Swap agreements | — | 15,625,140 | — | (22,895,121) |
| Short-term U.S. government and agency obligations | — | 198 | — | (7,018) |
| Net realized gain (loss) | (372,130,469) | 237,080,036 | (402,539,202) | (1,441,441,743) |
| Change in net unrealized appreciation (depreciation) on | ||||
| Futures contracts | 260,225,054 | (362,927,910) | 63,582,315 | 196,021,496 |
| Swap agreements | — | (47,526,551) | — | (1,438,294) |
| Short-term U.S. government and agency obligations | 34,676 | (17,784) | 21,069 | (8,113) |
| Change in net unrealized appreciation (depreciation) | 260,259,730 | (410,472,245) | 63,603,384 | 194,575,089 |
| Net realized and unrealized gain (loss) | (111,870,739) | (173,392,209) | (338,935,818) | (1,246,866,654) |
| Net income (loss) | $(106,952,882) | $(167,358,156) | $(325,551,071) | $(1,230,421,982) |
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Shareholders’ equity, beginning of period | $540,643,821 | $1,141,021,278 | $729,892,808 | $586,151,113 |
| Addition of 10,350,000, 2,590,000, 23,240,000 and 9,143,000 shares, respectively (Note 1) (Note 8) | 549,317,432 | 739,093,446 | 1,667,588,651 | 3,899,918,459 |
| Redemption of 6,180,000, 2,650,666, 17,250,000 and 6,242,166 shares, respectively (Note 1) (Note 8) | (331,187,266) | (842,417,287) | (1,420,109,283) | (2,385,308,309) |
| Net addition (redemption) of 4,170,000, (60,666), 5,990,000 and 2,900,834 shares, respectively (Note 1) (Note 8) | 218,130,166 | (103,323,841) | 247,479,368 | 1,514,610,150 |
| Net investment income (loss) | 4,917,857 | 6,034,053 | 13,384,747 | 16,444,672 |
| Net realized gain (loss) | (372,130,469) | 237,080,036 | (402,539,202) | (1,441,441,743) |
| Change in net unrealized appreciation (depreciation) | 260,259,730 | (410,472,245) | 63,603,384 | 194,575,089 |
| Net income (loss) | (106,952,882) | (167,358,156) | (325,551,071) | (1,230,421,982) |
| Shareholders’ equity, end of period | $651,821,105 | $870,339,281 | $651,821,105 | $870,339,281 |
| Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2024 | 2023 | |
| (As Restated) | ||
| Cash flow from operating activities | ||
| Net income (loss) | $(325,551,071) | $(1,230,421,982) |
| 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 | (470,623,691) | (10,927,044,661) |
| Proceeds from sales or maturities of short-term U.S. government and agency obligations | 215,000,000 | 10,897,274,725 |
| Net amortization and accretion on short-term U.S. government and agency obligations | (3,693,933) | (10,843,424) |
| Net realized (gain) loss on investments | — | 7,018 |
| Change in unrealized (appreciation) depreciation on investments | (21,069) | 1,446,407 |
| Decrease (Increase) in receivable on open futures contracts | (22,694,887) | (22,267,174) |
| Decrease (Increase) in interest receivable | 1,004,148 | (830,414) |
| Increase (Decrease) in payable to Sponsor | (137,481) | 258,733 |
| Increase (Decrease) in brokerage commissions and futures account fees payable | (38,213) | 1,619 |
| Increase (Decrease) in payable on open futures contracts | (21,843,883) | 2,763,059 |
| Net cash provided by (used in) operating activities | (628,600,080) | (1,289,656,094) |
| Cash flow from financing activities | ||
| Proceeds from addition of shares | 1,671,870,576 | 3,899,918,459 |
| Payment on shares redeemed | (1,388,991,394) | (2,354,647,812) |
| Net cash provided by (used in) financing activities | 282,879,182 | 1,545,270,647 |
| Net increase (decrease) in cash | (345,720,898) | 255,614,553 |
| Cash, beginning of period | 701,114,381 | 327,716,484 |
| Cash, end of period | $355,393,483 | $583,331,037 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.