ProShares Trust II
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 28, 2025
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
| December 31, 2024 | December 31, 2023 | |
|---|---|---|
| Assets | ||
| Short-term U.S. government and agency obligations (Note 3) (cost $99,724,267 and $64,445,510, respectively) | $99,751,500 | $64,459,117 |
| Cash | 205,241,492 | 326,252,692 |
| Segregated cash balances with brokers for futures contracts | 117,769,697 | 374,861,689 |
| Receivable from capital shares sold | 10,966,643 | 4,281,925 |
| Interest receivable | 825,264 | 1,925,643 |
| Total assets | 434,554,596 | 771,781,066 |
| Liabilities and shareholders’ equity | ||
| Liabilities | ||
| Payable for capital shares redeemed | — | 19,366,361 |
| Payable on open futures contracts | 38,058,122 | 21,843,883 |
| Brokerage commissions and futures account fees payable | 13,669 | 52,349 |
| Payable to Sponsor | 401,306 | 625,665 |
| Total liabilities | 38,473,097 | 41,888,258 |
| Commitments and Contingencies (Note 2) | ||
| Shareholders’ equity | ||
| Shareholders’ equity | 396,081,499 | 729,892,808 |
| Total liabilities and shareholders’ equity | $434,554,596 | $771,781,066 |
| Shares outstanding (Note 1) | 7,223,047 | 5,113,709 |
| Net asset value per share (Note 1) | $54.84 | $142.73 |
| Market value per share (Note 1) (Note 2) | $55.82 | $142.20 |
| Principal Amount | Value | |
|---|---|---|
| Short-term U.S. government and agency obligations | ||
| (25% of shareholders’ equity) | ||
| U.S. Treasury Bills^^: | ||
| 4.562% due 01/23/25 | $100,000,000 | $99,751,500 |
| Total short-term U.S. government and agency obligations(cost $99,724,267) | $99,751,500 | |
| Number of Contracts | Notional Amount at Value | Unrealized Appreciation (Depreciation)/Value | |
|---|---|---|---|
| Natural Gas - NYMEX, expires March 2025 | 25,569 | $792,127,620 | $97,239,201 |
| ^^ | Rates shown represent discount rate at the time of purchase. |
|---|
| Principal Amount | Value | |
|---|---|---|
| Short-term U.S. government and agency obligations | ||
| (9% of shareholders’ equity) | ||
| U.S. Treasury Bills^^: | ||
| 5.417% due 02/20/24 | $40,000,000 | $39,713,352 |
| 5.382% due 03/12/24 | 25,000,000 | 24,745,765 |
| Total short-term U.S. government and agency obligations(cost $64,445,510) | $64,459,117 | |
| Number of Contracts | Notional Amount at Value | Unrealized Appreciation (Depreciation)/Value | |
|---|---|---|---|
| Natural Gas - NYMEX, expires March 2024 | 62,768 | $1,460,611,360 | $43,607,070 |
| ^^ | Rates shown represent discount rate at the time of purchase. |
|---|
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Investment Income | |||
| Interest | $25,765,554 | $34,926,670 | $4,362,018 |
| Expenses | |||
| Management fee | 5,578,019 | 9,157,296 | 2,676,608 |
| Brokerage commissions | 2,815,764 | 3,527,713 | 626,331 |
| Futures account fees | 227,465 | 662,807 | 278,411 |
| Non-recurring fees and expenses | — | — | 15,397 |
| Total expenses | 8,621,248 | 13,347,816 | 3,596,747 |
| Net investment income (loss) | 17,144,306 | 21,578,854 | 765,271 |
| Realized and unrealized gain (loss) on investment activity | |||
| Net realized gain (loss) on | |||
| Futures contracts | (398,292,227) | (2,054,254,551) | 109,680,104 |
| Swap agreements | — | (26,402,152) | — |
| Short-term U.S. government and agency obligations | 1,653 | 892 | (4,317) |
| Net realized gain (loss) | (398,290,574) | (2,080,655,811) | 109,675,787 |
| Change in net unrealized appreciation (depreciation) on | |||
| Futures contracts | 53,632,131 | 354,221,039 | (302,407,808) |
| Short-term U.S. government and agency obligations | 13,626 | (37,252) | 65,140 |
| Change in net unrealized appreciation (depreciation) | 53,645,757 | 354,183,787 | (302,342,668) |
| Net realized and unrealized gain (loss) | (344,644,817) | (1,726,472,024) | (192,666,881) |
| Net income (loss) | $(327,500,511) | $(1,704,893,170) | $(191,901,610) |
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Shareholders’ equity, beginning of period | $729,892,808 | $586,151,113 | $193,892,178 |
| Addition of 35,420,000, 13,723,000 and 633,500 shares, respectively (Note 1) | 2,177,844,801 | 4,896,232,861 | 2,558,661,553 |
| Redemption of 33,310,662, 8,932,166 and 386,500 shares, respectively (Note 1) | (2,184,155,599) | (3,047,597,996) | (1,974,501,008) |
| Net addition (redemption) of 2,109,338, 4,790,834 and 247,000 shares, respectively (Note 1) | (6,310,798) | 1,848,634,865 | 584,160,545 |
| Net investment income (loss) | 17,144,306 | 21,578,854 | 765,271 |
| Net realized gain (loss) | (398,290,574) | (2,080,655,811) | 109,675,787 |
| Change in net unrealized appreciation (depreciation) | 53,645,757 | 354,183,787 | (302,342,668) |
| Net income (loss) | (327,500,511) | (1,704,893,170) | (191,901,610) |
| Shareholders’ equity, end of period | $396,081,499 | $729,892,808 | $586,151,113 |
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flow from operating activities | |||
| Net income (loss) | $(327,500,511) | $(1,704,893,170) | $(191,901,610) |
| 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 | (738,233,545) | (11,178,803,468) | (2,226,855,145) |
| Proceeds from sales or maturities of short-term U.S. government and agency obligations | 709,956,736 | 11,391,373,123 | 2,056,848,583 |
| Net amortization and accretion on short-term U.S. government and agency obligations | (7,000,295) | (13,804,974) | (2,270,335) |
| Net realized (gain) loss on investments | (1,653) | (892) | 4,317 |
| Change in unrealized (appreciation) depreciation on investments | (13,626) | 37,252 | (65,140) |
| Decrease (Increase) in receivable on open futures contracts | — | — | 9,023,120 |
| Decrease (Increase) in interest receivable | 1,100,379 | (1,271,721) | (652,792) |
| Increase (Decrease) in payable to Sponsor | (224,359) | 175,151 | 303,324 |
| Increase (Decrease) in brokerage commissions and futures account fees payable | (38,680) | 17,107 | (28,386) |
| Increase (Decrease) in payable on open futures contracts | 16,214,239 | 18,676,841 | (2,236,616) |
| Net cash provided by (used in) operating activities | (345,741,315) | (1,488,494,751) | (357,830,680) |
| Cash flow from financing activities | |||
| Proceeds from addition of shares | 2,171,160,083 | 4,891,950,936 | 2,579,110,294 |
| Payment on shares redeemed | (2,203,521,960) | (3,030,058,288) | (1,972,674,355) |
| Net cash provided by (used in) financing activities | (32,361,877) | 1,861,892,648 | 606,435,939 |
| Net increase (decrease) in cash | (378,103,192) | 373,397,897 | 248,605,259 |
| Cash, beginning of period | 701,114,381 | 327,716,484 | 79,111,225 |
| Cash, end of period | $323,011,189 | $701,114,381 | $327,716,484 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.