ProShares Trust II

For the period ended Sep 30, 2024. Filed Nov 18, 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.

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.

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Contents

ProShares UltraShort Bloomberg Crude Oil

	September 30, 2024 (unaudited)	December 31, 2023
Assets
Short-term U.S. government and agency obligations (Note 3) (cost $34,919,601 and $49,673,923, respectively)	$34,925,773	$49,683,885
Cash	38,407,930	91,925,442
Segregated cash balances with brokers for futures contracts	30,091,480	49,648,726
Receivable on open futures contracts	564,264	654,887
Interest receivable	157,060	285,610
Total assets	104,146,507	192,198,550
Liabilities and shareholders’ equity
Liabilities
Payable for capital shares redeemed	2,927,949	3,096,091
Payable on open futures contracts	4,402,659	—
Brokerage commissions and futures account fees payable	—	3,509
Payable to Sponsor	85,946	135,358
Total liabilities	7,416,554	3,234,958
Commitments and Contingencies (Note 2)
Shareholders’ equity
Shareholders’ equity	96,729,953	188,963,592
Total liabilities and shareholders’ equity	$104,146,507	$192,198,550
Shares outstanding	4,955,220	9,105,220
Net asset value per share	$19.52	$20.75
Market value per share (Note 2)	$19.48	$20.89

	Principal Amount	Value
Short-term U.S. government and agency obligations
(36% of shareholders’ equity)
U.S. Treasury Bills^^:
5.256% due 10/10/24	$25,000,000	$24,970,903
5.120% due 11/05/24	10,000,000	9,954,870
Total short-term U.S. government and agency obligations (cost $34,919,601)		$34,925,773

	Number of Contracts	Notional Amount at Value	Unrealized Appreciation (Depreciation)/Value
WTI Crude Oil - NYMEX, expires December 2024	942	$63,839,340	$9,768,953
WTI Crude Oil - NYMEX, expires June 2025	965	64,587,450	5,173,278
WTI Crude Oil - NYMEX, expires December 2025	980	65,062,200	(36,482)
			$14,905,749

^^	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	$1,865,946	$2,609,417	$6,398,993	$6,172,654
Expenses
Management fee	363,340	548,671	1,255,680	1,392,728
Brokerage commissions	51,598	54,549	149,398	180,385
Total expenses	414,938	603,220	1,405,078	1,573,113
Net investment income (loss)	1,451,008	2,006,197	4,993,915	4,599,541
Realized and unrealized gain (loss) on investment activity
Net realized gain (loss) on
Futures contracts	12,329,007	(47,764,820)	(330,018)	7,896,254
Short-term U.S. government and agency obligations	179	60	6,958	(11,723)
Net realized gain (loss)	12,329,186	(47,764,760)	(323,060)	7,884,531
Change in net unrealized appreciation (depreciation) on
Futures contracts	28,461,478	(38,026,419)	(7,530,570)	(35,285,156)
Short-term U.S. government and agency obligations	5,390	8,060	(3,790)	6,419
Change in net unrealized appreciation (depreciation)	28,466,868	(38,018,359)	(7,534,360)	(35,278,737)
Net realized and unrealized gain (loss)	40,796,054	(85,783,119)	(7,857,420)	(27,394,206)
Net income (loss)	$42,247,062	$(83,776,922)	$(2,863,505)	$(22,794,665)

	Three Months Ended September 30,		Nine Months Ended September 30,
	2024	2023	2024	2023
Shareholders’ equity, beginning of period	$177,620,038	$112,854,952	$188,963,592	$222,697,337
Addition of 2,250,000, 17,250,000, 14,900,000 and 28,800,000 shares, respectively	37,421,194	345,709,147	253,860,259	622,896,585
Redemption of 8,700,000, 4,050,000, 19,050,000 and 20,500,000 shares, respectively	(160,558,341)	(78,010,711)	(343,230,393)	(526,022,791)
Net addition (redemption) of (6,450,000), 13,200,000, (4,150,000) and 8,300,000 shares, respectively	(123,137,147)	267,698,436	(89,370,134)	96,873,794
Net investment income (loss)	1,451,008	2,006,197	4,993,915	4,599,541
Net realized gain (loss)	12,329,186	(47,764,760)	(323,060)	7,884,531
Change in net unrealized appreciation (depreciation)	28,466,868	(38,018,359)	(7,534,360)	(35,278,737)
Net income (loss)	42,247,062	(83,776,922)	(2,863,505)	(22,794,665)
Shareholders’ equity, end of period	$96,729,953	$296,776,466	$96,729,953	$296,776,466

	Nine Months Ended September 30,
	2024	2023
Cash flow from operating activities
Net income (loss)	$(2,863,505)	$(22,794,665)
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	(301,469,671)	(881,618,883)
Proceeds from sales or maturities of short-term U.S. government and agency obligations	319,998,987	789,898,469
Net amortization and accretion on short-term U.S. government and agency obligations	(3,768,036)	(3,156,304)
Net realized (gain) loss on investments	(6,958)	11,723
Change in unrealized (appreciation) depreciation on investments	3,790	(6,419)
Decrease (Increase) in receivable on open futures contracts	90,623	(1,952,940)
Decrease (Increase) in interest receivable	128,550	104,982
Increase (Decrease) in payable to Sponsor	(49,412)	(2,885)
Increase (Decrease) in brokerage commissions and futures account fees payable	(3,509)	299
Increase (Decrease) in payable on open futures contracts	4,402,659	(6,109,476)
Net cash provided by (used in) operating activities	16,463,518	(125,626,099)
Cash flow from financing activities
Proceeds from addition of shares	253,860,259	615,353,267
Payment on shares redeemed	(343,398,535)	(527,279,881)
Net cash provided by (used in) financing activities	(89,538,276)	88,073,386
Net increase (decrease) in cash	(73,074,758)	(37,552,713)
Cash, beginning of period	141,574,168	139,811,511
Cash, end of period	$68,499,410	$102,258,798

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.