ProShares Trust II
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
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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 UltraShort Bloomberg Crude Oil
| December 31, 2024 | December 31, 2023 | |
|---|---|---|
| Assets | ||
| Short-term U.S. government and agency obligations (Note 3) (cost $— and $49,673,923, respectively) | $— | $49,683,885 |
| Cash | 88,861,451 | 91,925,442 |
| Segregated cash balances with brokers for futures contracts | 31,873,660 | 49,648,726 |
| Receivable from capital shares sold | 3,386,356 | — |
| Receivable on open futures contracts | — | 654,887 |
| Interest receivable | 341,824 | 285,610 |
| Total assets | 124,463,291 | 192,198,550 |
| Liabilities and shareholders’ equity | ||
| Liabilities | ||
| Payable for capital shares redeemed | — | 3,096,091 |
| Payable on open futures contracts | 2,372,844 | — |
| Brokerage commissions and futures account fees payable | — | 3,509 |
| Payable to Sponsor | 93,113 | 135,358 |
| Total liabilities | 2,465,957 | 3,234,958 |
| Commitments and Contingencies (Note 2) | ||
| Shareholders’ equity | ||
| Shareholders’ equity | 121,997,334 | 188,963,592 |
| Total liabilities and shareholders’ equity | $124,463,291 | $192,198,550 |
| Shares outstanding | 7,205,220 | 9,105,220 |
| Net asset value per share | $16.93 | $20.75 |
| Market value per share (Note 2) | $16.92 | $20.89 |
| Number of Contracts | Notional Amount at Value | Unrealized Appreciation (Depreciation)/Value | |
|---|---|---|---|
| WTI Crude Oil - NYMEX, expires March 2025 | 1,140 | $81,225,000 | $(2,847,040) |
| WTI Crude Oil - NYMEX, expires June 2025 | 1,167 | 81,888,390 | 1,888,681 |
| WTI Crude Oil - NYMEX, expires December 2025 | 1,186 | 80,873,340 | (697,033) |
| $(1,655,392) | |||
| Principal Amount | Value | |
|---|---|---|
| Short-term U.S. government and agency obligations | ||
| (26% of shareholders’ equity) | ||
| U.S. Treasury Bills^^: | ||
| 5.442% due 01/18/24 | $15,000,000 | $14,964,734 |
| 5.417% due 02/20/24 | 25,000,000 | 24,820,845 |
| 5.382% due 03/12/24 | 10,000,000 | 9,898,306 |
| Total short-term U.S. government and agency obligations (cost $49,673,923) | $49,683,885 | |
| Number of Contracts | Notional Amount at Value | Unrealized Appreciation (Depreciation)/Value | |
|---|---|---|---|
| WTI Crude Oil - NYMEX, expires March 2024 | 1,688 | $121,265,920 | $2,345,922 |
| WTI Crude Oil - NYMEX, expires June 2024 | 1,769 | 127,580,280 | 8,633,394 |
| WTI Crude Oil - NYMEX, expires December 2024 | 1,836 | 129,070,800 | 11,457,003 |
| $22,436,319 | |||
| ^^ | Rates shown represent discount rate at the time of purchase. |
|---|
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Investment Income | |||
| Interest | $7,561,479 | $8,581,404 | $4,116,166 |
| Expenses | |||
| Management fee | 1,518,281 | 1,871,453 | 3,324,952 |
| Brokerage commissions | 183,413 | 242,865 | 427,485 |
| Futures account fees | — | — | 214,920 |
| Non-recurring fees and expenses | — | — | 14,792 |
| Total expenses | 1,701,694 | 2,114,318 | 3,982,149 |
| Net investment income (loss) | 5,859,785 | 6,467,086 | 134,017 |
| Realized and unrealized gain (loss) on investment activity | |||
| Net realized gain (loss) on | |||
| Futures contracts | 4,429,612 | 12,379,340 | (108,954,702) |
| Short-term U.S. government and agency obligations | 6,958 | (11,670) | — |
| Net realized gain (loss) | 4,436,570 | 12,367,670 | (108,954,702) |
| Change in net unrealized appreciation (depreciation) on | |||
| Futures contracts | (24,091,711) | 12,191,426 | 18,654,355 |
| Short-term U.S. government and agency obligations | (9,962) | (9,665) | 35,904 |
| Change in net unrealized appreciation (depreciation) | (24,101,673) | 12,181,761 | 18,690,259 |
| Net realized and unrealized gain (loss) | (19,665,103) | 24,549,431 | (90,264,443) |
| Net income (loss) | $(13,805,318) | $31,016,517 | $(90,130,426) |
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Shareholders’ equity, beginning of period | $188,963,592 | $222,697,337 | $114,167,602 |
| Addition of 19,500,000, 32,700,000 and 44,940,000 shares, respectively | 332,554,759 | 695,900,455 | 1,196,365,904 |
| Redemption of 21,400,000, 32,900,000 and 37,411,540 shares, respectively | (385,715,699) | (760,650,717) | (997,705,743) |
| Net addition (redemption) of (1,900,000), (200,000) and 7,528,460 shares, respectively | (53,160,940) | (64,750,262) | 198,660,161 |
| Net investment income (loss) | 5,859,785 | 6,467,086 | 134,017 |
| Net realized gain (loss) | 4,436,570 | 12,367,670 | (108,954,702) |
| Change in net unrealized appreciation (depreciation) | (24,101,673) | 12,181,761 | 18,690,259 |
| Net income (loss) | (13,805,318) | 31,016,517 | (90,130,426) |
| Shareholders’ equity, end of period | $121,997,334 | $188,963,592 | $222,697,337 |
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flow from operating activities | |||
| Net income (loss) | $(13,805,318) | $31,016,517 | $(90,130,426) |
| 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 | (326,289,323) | (975,397,647) | (8,926,116,784) |
| Proceeds from sales or maturities of short-term U.S. government and agency obligations | 379,998,987 | 1,019,874,276 | 8,895,000,000 |
| Net amortization and accretion on short-term U.S. government and agency obligations | (4,028,783) | (4,754,914) | (2,358,224) |
| Net realized (gain) loss on investments | (6,958) | 11,670 | — |
| Change in unrealized (appreciation) depreciation on investments | 9,962 | 9,665 | (35,904) |
| Decrease (Increase) in receivable on open futures contracts | 654,887 | 949,960 | 2,459,592 |
| Decrease (Increase) in interest receivable | (56,214) | 99,246 | (383,497) |
| Increase (Decrease) in payable to Sponsor | (42,245) | (73,244) | 134,331 |
| Increase (Decrease) in brokerage commissions and futures account fees payable | (3,509) | (625) | (3,810) |
| Increase (Decrease) in payable on open futures contracts | 2,372,844 | (7,102,680) | 6,927,123 |
| Net cash provided by (used in) operating activities | 38,804,330 | 64,632,224 | (114,507,599) |
| Cash flow from financing activities | |||
| Proceeds from addition of shares | 329,168,403 | 695,942,149 | 1,196,324,210 |
| Payment on shares redeemed | (388,811,790) | (758,811,716) | (996,448,653) |
| Net cash provided by (used in) financing activities | (59,643,387) | (62,869,567) | 199,875,557 |
| Net increase (decrease) in cash | (20,839,057) | 1,762,657 | 85,367,958 |
| Cash, beginning of period | 141,574,168 | 139,811,511 | 54,443,553 |
| Cash, end of period | $120,735,111 | $141,574,168 | $139,811,511 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.