Fund · ProShares UltraPro Short S&P500 · measured from SEC filings
SPXU holdings
SPXU reports 12 holdings and behaves like 3.5 equally weighted ones, computed from its SEC Form N-PORT filing for 2026-05-31. The fact sheet publishes the first number; this page computes the second, and traces it across 27 quarters of filings.
Measured concentration
as of 2026-05-31This figure is not comparable with other funds
swap and futures notional is 294% of net assets: the fund's exposure is delivered by derivatives, and a count of its filed positions does not describe it. See the exposure section for what the notional is written on
50.1% of net assets carries no asset category in the filing
The figure below is what the filing says, published unchanged. What it may not do is sit beside a plain long-only fund and be read as the same quantity. How comparability is decided.
Computed by this site from the fund's SEC Form N-PORT filing; what the measure does not tell you · every fund in one table · hold it with other funds? X-ray the mix. Pricing: 50.06% at a quoted market price (level 1), one issuer country.
What stands out
as of 2026-05-31The largest line in SPXU's filing is not a stock but ProShares Genius Money Market ETF, a fund position at 72.4% of net assets. Between the 2026-02-28 and 2026-05-31 filings 7 positions were added and 3 dropped; 55.0% of the weight moved.
Each sentence is read from the fund's own SEC filing; the class median is computed across the comparable unknown funds on this site. Nothing here is a view on the fund.
Every filing since 2019
27| Period | Holdings | Effective | Top 10 | Largest |
|---|---|---|---|---|
| 2026-05-31 * | 12 | 3.5 | 98.19% | 50.06% |
| 2026-02-28 * | 14 | 3.8 | 98.42% | 37.52% |
| 2025-11-30 * | 13 | 5.1 | 96.42% | 36.59% |
| 2025-08-31 * | 11 | 4.9 | 99.71% | 35.42% |
| 2025-05-31 * | 16 | 7.1 | 97.08% | 23.33% |
| 2025-02-28 * | 16 | 8.2 | 95.46% | 17.5% |
| 2024-11-30 * | 16 | 9.4 | 93.02% | 16.06% |
| 2024-08-31 * | 16 | 10.6 | 92.05% | 12.04% |
Earlier filings (19 more, back to 2019-11-30)
| Period | Holdings | Effective | Top 10 | Largest |
|---|---|---|---|---|
| 2024-05-31 * | 19 | 12.4 | 82.98% | 11.92% |
| 2024-02-29 * | 24 | 19.2 | 59.06% | 8.12% |
| 2023-11-30 * | 30 | 22 | 49.78% | 8.61% |
| 2023-08-31 * | 27 | 16.4 | 61.95% | 14.46% |
| 2023-05-31 * | 31 | 20.4 | 53.99% | 12.7% |
| 2023-02-28 * | 32 | 18.8 | 61.94% | 11.76% |
| 2022-11-30 * | 18 | 11.9 | 78.13% | 14.8% |
| 2022-08-31 * | 24 | 10.7 | 82.49% | 17.54% |
| 2022-05-31 * | 28 | 15.8 | 69.09% | 11.32% |
| 2022-02-28 * | 23 | 13.7 | 72.86% | 14.03% |
| 2021-11-30 * | 27 | 17.5 | 61.52% | 12.5% |
| 2021-08-31 * | 26 | 21.4 | 57.06% | 9.06% |
| 2021-05-31 * | 21 | 18.2 | 61.2% | 10.57% |
| 2021-02-28 * | 23 | 16.7 | 68.38% | 10.31% |
| 2020-11-30 * | 31 | 20 | 56.73% | 10.53% |
| 2020-08-31 * | 27 | 18 | 64.39% | 11.66% |
| 2020-05-31 * | 35 | 20.7 | 60.01% | 10.07% |
| 2020-02-29 * | 29 | 17.5 | 66.01% | 12.77% |
| 2019-11-30 * | 27 | 17.5 | 62.95% | 13.52% |
One row per filed reporting period, newest first, read from EDGAR. Quarterly because that is the public filing cadence. Rows marked * are published but held out of the comparison above; the methodology page says when and why.
Largest positions, as filed
as of 2026-05-31The 9 largest of 12 positions in SPXU's Form N-PORT, weight as a share of net assets, securities-lending collateral excluded. Every position, every quarter: SPXU.csv.gz.
| # | Position | Weight | Cumulative |
|---|---|---|---|
| 1 | ProShares GENIUS Money Market ETF | 50.06% | 50.1% |
| 2 | United States of America | 11.12% | 61.2% |
| 3 | United States of America | 8.95% | 70.1% |
| 4 | Repurchase Agreement | 7.53% | 77.7% |
| 5 | U.S. Treasury Bills | 7.46% | 85.1% |
| 6 | U.S. Treasury Bills | 7.43% | 92.5% |
| 7 | United States of America | 3.73% | 96.3% |
| 8 | United States of America | 2.98% | 99.3% |
| 9 | U.S. Treasury Bills | 0.74% | 100.0% |
Returns the fund reported
2019-09 – 2026-05Monthly total returns from Item B.5 of SPXU's own filings, 81 months on record. Not computed here and not from a price feed.
Cross-checked against a series computed separately from prices: median difference — percentage points over 0 months, which is roughly the distributions. Every month with the filing it came from: SPXU.json · all funds.
Since the previous filing
2026-02-28 → 2026-05-315 positions became 9: 7 added (42.4% of the fund at the later date), 3 dropped (49.2% at the earlier date). Half the sum of all weight changes, a turnover proxy: 55.0%. Positions are matched on identifiers, so a security whose identifier changed shows as one drop and one add. Every filing of SPXU compared this way, as a feed: changes.xml · all funds: filings received.
| Largest increases | 2026-02-28 | 2026-05-31 | Largest decreases | 2026-02-28 | 2026-05-31 |
|---|---|---|---|---|---|
| ProShares GENIUS Money Market ETF | 37.52% | 50.06% | Repurchase Agreement | 13.27% | 7.53% |
New: United States of America (11.12%), United States of America (8.95%), U.S. Treasury Bills (7.46%), U.S. Treasury Bills (7.43%), United States of America (3.73%), United States of America (2.98%). Gone: United States of America (26.79%), United States of America (22.03%), N/A (0.40%).
Asset categories and pricing
as of 2026-05-31| Asset category (as filed) | Share of investments |
|---|---|
| unknown unknown | 50.06% |
| short-term investment STIV | 42.41% |
| repurchase agreement RA | 7.53% |
50.1% of SPXU is carried at a quoted market price (fair-value level 1). Categories and levels are the filer's, from Form N-PORT; what a low level-1 share does and does not mean is in the measure's page.
Derivative exposure and counterparties
as of 2026-05-31A position count cannot describe a fund that uses derivatives, because a swap is filed at its unrealised gain, not its exposure. These are the notionals the fund itself reported, against net assets of $463M. Notional of an interest-rate or currency swap is not equity exposure.
| Swap counterparty | Notional | % of net assets |
|---|---|---|
| Societe Generale SA | −$180M | -38.96% |
| JPMORGAN CHASE BANK, NATIONAL ASSOCIATION | −$158M | -34.02% |
| BNP PARIBAS | −$155M | -33.49% |
| Barclays Bank plc | −$133M | -28.8% |
| Goldman Sachs International | −$128M | -27.55% |
| UBS AG | −$125M | -27.02% |
| Bank of America NA | −$112M | -24.28% |
| CITIBANK, NATIONAL ASSOCIATION | −$106M | -22.95% |
| Morgan Stanley & Co. International plc | −$103M | -22.22% |
| Wells Fargo Bank NA | −$97M | -20.95% |
Financing leg as filed : the fund receives FEDL01 + 0.533% on $1.30B of short swap notional. Issuers fill the spread field differently (some file the all-in rate), so compare within an issuer, not across.
Full detail for every fund that files derivatives: leverage.json (CC BY 4.0).
Neighbours by effective holdings, unknown funds
10Every measured unknown fund lined up by how many holdings it behaves like; these sit either side of SPXU (3.5). Same filings, same arithmetic. Position in this list says nothing about which fund is better.
| Fund | Reports | Behaves like | Top ten | As of |
|---|---|---|---|---|
| AOK iShares Core 30/70 Conservative Allocation ETF | 8 | 2.6 | 100% | 2026-07-31 |
| DFAW Dimensional World Equity ETF | 5 | 2.8 | 100% | 2026-07-31 |
| AOM iShares Core 40/60 Moderate Allocation ETF | 8 | 3.1 | 100% | 2026-07-31 |
| SQQQ ProShares UltraPro Short QQQ | 13 | 3.3 * | 99.01% | 2026-05-31 |
| AOA iShares Core 80/20 Aggressive Allocation ETF | 8 | 3.4 | 100% | 2026-07-31 |
| AOR iShares Core 60/40 Balanced Allocation ETF | 8 | 3.8 | 100% | 2026-07-31 |
| SSUS Day Hagan Smart Sector ETF | 16 | 6 | 88.65% | 2026-07-31 |
| BYLD iShares Yield Optimized Bond ETF | 13 | 9.4 | 94.84% | 2026-07-31 |
| HNDL Strategy Shares NASDAQ 7HANDL Index ETF | 21 | 13.7 | 78.01% | 2026-07-31 |
| THD iShares MSCI Thailand ETF | 84 | 15.6 | 60.07% | 2026-05-31 |
Essays that examine SPXU
0Mentions are detected across the full text of every article, so an appearance may be a passing comparison rather than the subject. Nothing here is a recommendation to buy or sell — see the disclaimer.