ProShares Trust II

For the period ended Sep 30, 2026. Filed Nov 6, 2026.

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, 2026 · Filed Nov 6, 2026

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 Ultra Euro

	September 30, 2026 (unaudited)	December 31, 2025
Assets
Short-term U.S. government and agency obligations (Note 3) (cost $995,019 and $–, respectively)	$994,861	$—
Cash	2,880,772	5,185,710
Segregated cash balances with brokers for foreign currency forward contracts	—	666,667
Unrealized appreciation on foreign currency forward contracts	17,406	62,719
Interest receivable	9,518	15,545
Total assets	3,902,557	5,930,641
Liabilities and shareholders’ equity
Liabilities
Payable to Sponsor	3,291	4,756
Unrealized depreciation on foreign currency forward contracts	256,915	29
Total liabilities	260,206	4,785
Commitments and Contingencies (Note 2)
Shareholders’ equity
Shareholders’ equity	3,642,351	5,925,856
Total liabilities and shareholders’ equity	$3,902,557	$5,930,641
Shares outstanding	300,000	450,000
Net asset value per share	$12.14	$13.17
Market value per share (Note 2)	$12.13	$13.16

	Principal Amount	Value
Short-term U.S. government and agency obligations
(27% of shareholders’ equity)
U.S. Treasury Bills^^:
3.920% due 11/17/2026†	$1,000,000	$994,861
Total short-term U.S. government and agency obligations (cost $995,019)		$994,861

	Settlement Date	Contract Amount in Local Currency	Contract Amount in U.S. Dollars	Unrealized Appreciation (Depreciation)/ Value
Contracts to Purchase
Euro with Goldman Sachs International	10/09/26	3,528,921	$3,997,834	$(117,329)
Euro with UBS AG	10/09/26	4,170,502	4,724,666	(139,586)
Total Unrealized Depreciation				$(256,915)
Contracts to Sell
Euro with Goldman Sachs International	10/09/26	(73,000)	$(82,700)	$315
Euro with UBS AG	10/09/26	(1,188,000)	(1,345,858)	17,091
Total Unrealized Appreciation				$17,406

†	All or partial amount pledged as collateral for foreign currency forward contracts.

^	The positions and counterparties herein are as of September 30, 2026. The Fund continually evaluates different counterparties for their transactions and counterparties are subject to change. New counterparties can be added at any time.

^^	Rates shown represent discount rate at the time of purchase.

	Three Months Ended September 30,		Nine Months Ended September 30,
	2026	2025	2026	2025
Investment Income
Interest	$39,432	$72,530	$133,619	$186,574
Total income	39,432	72,530	133,619	186,574
Expenses
Management fee	10,517	18,718	38,387	48,609
Total expenses	10,517	18,718	38,387	48,609
Net investment income (loss)	28,915	53,812	95,232	137,965
Realized and unrealized gain (loss) on investment activity
Net realized gain (loss) on
Foreign currency forward contracts	18,626	220,691	(206,158)	997,841
Net realized gain (loss)	18,626	220,691	(206,158)	997,841
Change in net unrealized appreciation (depreciation) on
Foreign currency forward contracts	(113,669)	(434,179)	(302,199)	176,469
Short-term U.S. government and agency obligations	(104)	—	(158)	—
Change in net unrealized appreciation (depreciation)	(113,773)	(434,179)	(302,357)	176,469
Net realized and unrealized gain (loss)	(95,147)	(213,488)	(508,515)	1,174,310
Net income (loss)	$(66,232)	$(159,676)	$(413,283)	$1,312,275

	Three Months Ended September 30,		Nine Months Ended September 30,
	2026	2025	2026	2025
Shareholders’ equity, beginning of period	$4,949,960	$8,708,069	$5,925,856	$5,751,156
Addition of –, –, 50,000 and 200,000 shares, respectively	—	—	679,857	2,513,699
Redemption of 100,000, 100,000, 200,000 and 200,000 shares, respectively	(1,241,377)	(1,276,289)	(2,550,079)	(2,305,026)
Net addition (redemption) of (100,000), (100,000), (150,000) and – shares, respectively	(1,241,377)	(1,276,289)	(1,870,222)	208,673
Net investment income (loss)	28,915	53,812	95,232	137,965
Net realized gain (loss)	18,626	220,691	(206,158)	997,841
Change in net unrealized appreciation (depreciation)	(113,773)	(434,179)	(302,357)	176,469
Net income (loss)	(66,232)	(159,676)	(413,283)	1,312,275
Shareholders’ equity, end of period	$3,642,351	$7,272,104	$3,642,351	$7,272,104

	Nine Months Ended September 30,
	2026	2025
Cash flow from operating activities
Net income (loss)	$(413,283)	$1,312,275
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	(5,962,322)	—
Proceeds from sales or maturities of short-term U.S. government and agency obligations	5,000,000	—
Net amortization and accretion on short-term U.S. government and agency obligations	(32,697)	—
Change in unrealized (appreciation) depreciation on investments	302,357	(176,469)
Decrease (Increase) in interest receivable	6,027	(2,005)
Increase (Decrease) in payable to Sponsor	(1,465)	939
Net cash provided by (used in) operating activities	(1,101,383)	1,134,740
Cash flow from financing activities
Proceeds from addition of shares	679,857	2,513,699
Payment on shares redeemed	(2,550,079)	(2,305,026)
Net cash provided by (used in) financing activities	(1,870,222)	208,673
Net increase (decrease) in cash	(2,971,605)	1,343,413
Cash, beginning of period	5,852,377	5,903,547
Cash, end of period	$2,880,772	$7,246,960

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.