NPORT-EX 2 Strategic_Part_F.htm
FEBRUARY
28,
2025
(Unaudited)
::
BIG
DATA
REFINERS
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
1
DAT
::
Investments
Shares
Value
Common
Stocks
—
99.8%
Electronic
Equipment,
Instruments
&
Components
—
6.1%
VusionGroup
(a)
696
$
148,442
Zebra
Technologies
Corp.,
Class
a
A
*
792
249,520
397,962
Hotels,
Restaurants
&
Leisure
—
2.3%
Genius
Sports
Ltd.*
17,132
148,706
IT
Services
—
9.7%
Couchbase,
Inc.*
3,627
64,017
MongoDB,
Inc.,
Class
a
A
*
944
252,454
Snowflake,
Inc.,
Class
a
A
*
1,765
312,581
629,052
Software
—
81.7%
AvePoint,
Inc.*
9,135
136,477
Braze,
Inc.,
Class
a
A
*
5,967
220,660
Cellebrite
DI
Ltd.*
7,819
145,121
Cognyte
Software
Ltd.*
5,434
48,526
Commvault
Systems,
Inc.*
1,844
314,513
Confluent,
Inc.,
Class
a
A
*
9,628
305,593
Datadog,
Inc.,
Class
a
A
*
1,922
224,009
Dynatrace,
Inc.*
5,558
318,195
Elastic
NV*
2,920
339,771
Enghouse
Systems
Ltd.
3,896
68,454
Five9,
Inc.*
6,714
243,047
I3
Verticals,
Inc.,
Class
a
A
*
2,036
52,793
Informatica,
Inc.,
Class
a
A
*
11,945
228,866
InterDigital
,
Inc.
1,646
351,651
MicroStrategy,
Inc.,
Class
a
A
*
820
209,452
Nice
Ltd.,
ADR*
1,693
235,632
Nutanix,
Inc.,
Class
a
A
*
4,782
367,688
Palantir
Technologies,
Inc.,
Class
a
A
*
4,245
360,485
Rubrik,
Inc.,
Class
a
A
*
5,014
326,512
SimilarWeb
Ltd.*
3,987
38,036
SolarWinds
Corp.
4,420
80,930
Investments
Shares
Value
Common
Stocks
(continued)
Teradata
Corp.*
8,563
$
204,142
Tyler
Technologies,
Inc.*
520
316,384
Verint
Systems,
Inc.*
5,560
125,489
Weave
Communications,
Inc.*
4,927
62,080
5,324,506
Total
Common
Stocks
(Cost
$5,712,853)
6,500,226
Securities
Lending
Reinvestments
(b)
—
1.4%
Investment
Companies
—
1.4%
Invesco
Government
&
Agency
Portfolio,
Institutional
Class
4.29%
(c)
(Cost
$89,829)
89,829
89,829
Total
Investments
—
101.2%
(Cost
$5,802,682)
6,590,055
Liabilities
in
excess
of
other
assets
—
(1.2%)
(77,372)
Net
Assets
—
100.0%
$
6,512,683
*
Non-income
producing
security.
(a)
The
security
or
a
portion
of
this
security
is
on
loan
at
February
28,
2025.
The
total
value
of
securities
on
loan
at
February
28,
2025
was
$104,294,
collateralized
in
the
form
of
cash
with
a
value
of
$89,829
that
was
reinvested
in
the
securities
shown
in
the
Securities
Lending
Reinvestment
section
of
the
Schedule
of
Portfolio
Investments.
The
market
value
of
the
loaned
securities
is
determined
at
the
close
of
each
business
day
of
the
Fund
and
any
additional
required
collateral
is
delivered
to
the
Fund,
or
excess
collateral
returned
by
the
Fund,
on
the
next
business
day.
(b)
The
security
was
purchased
with
cash
collateral
held
from
securities
on
loan
at
February
28,
2025.
The
total
value
of
securities
purchased
was
$89,829.
(c)
Rate
shown
is
the
7-day
yield
as
of
February
28,
2025.
Abbreviations
ADR
American
Depositary
Receipt
DI
Depositary
Interest
Big
Data
Refiners
ETF
invested,
as
a
percentage
of
net
assets,
in
the
following
countries
as
of
February
28,
2025:
United
States
87.0%
Israel
7.2%
United
Kingdom
2.3%
France
2.3%
Canada
1.0%
Other
a
0.2%
100.0%
a
Includes
any
non-equity
securities
and
net
other
assets
(liabilities).
DECLINE
OF
THE
RETAIL
STORE
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
2
EMTY
::
Investments
Principal
Amount
Value
Short-Term
Investments
—
90
.0
%
Repurchase
Agreements
(a)
—
22
.6
%
Repurchase
Agreements
with
various
counterparties,
rates
4.15%
-
4.36%,
dated
2/28/2025,
due
3/3/2025,
total
to
be
received
$704,892
(Cost
$704,636)
$
704,636
$
704,636
U.S.
Treasury
Obligations
(b)
—
67
.4
%
U.S.
Treasury
Bills
4.26%,
3/11/2025
(c)                                                                            
(Cost
$2,097,533)
2,100,000
2,098,005
Total
Short-Term
Investments
(Cost
$2,802,169)
2,802,641
Total
Investments
—
90.0%
(Cost
$2,802,169)
2,802,641
Other
assets
less
liabilities
—
10.0%
312,900
Net
Assets
—
100.0%
$
3,115,541
(a)
The
Fund
invests
in
Repurchase
Agreements
jointly
with
other
funds
in
the
Trust.
See
"Repurchase
Agreements"
in
the
Notes
to
Schedules
of
Portfolio
Investments
to
view
the
details
of
each
individual
agreement
and
counterparty
as
well
as
a
description
of
the
securities
subject
to
repurchase.
(b)
All
or
a
portion
of
these
securities
are
segregated
in
connection
with
obligations
for
swaps
with
a
total
value
of
$231,781.
(c)
The
rate
shown
was
the
current
yield
as
of
February
28,
2025.
Swap
Agreements
Decline
of
the
Retail
Store
ETF
had
the
following
open
non-exchange
traded
total
return
swap
agreements
as
of
February
28,
2025:
Notional
Amount  
($)
Termination
Date
a
Counterparty
Rate
Paid
(Received)
b
Reference
Instrument
Value
and
Unrealized
Appreciation
($)
(1,779,264)
3/8/2027
BNP
Paribas
SA
(4.88)%
Solactive-ProShares
Bricks
and
Mortar
Retail
Store
Index
62,954
(182,234)
11/6/2026
Goldman
Sachs
International
(4.08)%
Solactive-ProShares
Bricks
and
Mortar
Retail
Store
Index
8,715
(376,064)
11/6/2026
Societe
Generale
(4.13)%
Solactive-ProShares
Bricks
and
Mortar
Retail
Store
Index
14,150
(776,978)
1/26/2026
UBS
AG
(4.73)%
Solactive-ProShares
Bricks
and
Mortar
Retail
Store
Index
31,069
(3,114,540)
116,888
Total
Unrealized
Appreciation
116,888
a
Agreements
may
be
terminated
at
will
by
either
party
without
penalty.
Payment
is
due
at
termination/maturity.
b
Reflects
the
floating
financing
rate,
as
of
February
28,
2025,
on
the
notional
amount
of
the
swap
agreement
paid
to
the
counterparty
or
received
from
the
counterparty,
excluding
any
commissions.
This
amount
is
included
as
part
of
the
unrealized
appreciation/(depreciation).
FEBRUARY
28,
2025
(Unaudited)
::
DJ
BROOKFIELD
GLOBAL
INFRASTRUCTURE
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
3
TOLZ
::
Investments
Shares
Value
Common
Stocks
—
90.5%
Construction
&
Engineering
—
6.7%
Ferrovial
SE
48,387
$
2,149,318
Vinci
SA
50,622
5,834,164
7,983,482
Diversified
Telecommunication
Services
—
2.7%
Cellnex
Telecom
SA(a)
57,839
2,066,375
China
Tower
Corp.
Ltd.,
Class
a
H*(a)
457,726
649,770
Helios
Towers
plc*
74,650
91,743
Infrastrutture
Wireless
Italiane
SpA(a)
35,043
351,886
RAI
Way
SpA(a)
8,946
52,062
3,211,836
Electric
Utilities
—
10.9%
Edison
International
23,967
1,304,764
Elia
Group
SA/NV
3,336
220,267
Eversource
Energy
22,702
1,430,453
Exelon
Corp.
62,235
2,750,787
Fortis,
Inc.
49,140
2,154,789
Hydro
One
Ltd.(a)
31,159
998,036
PG&E
Corp.
135,426
2,212,861
Redeia
Corp.
SA
39,799
713,413
Terna
-
Rete
Elettrica
Nazionale
138,028
1,154,058
12,939,428
Gas
Utilities
—
7.8%
APA
Group
122,119
559,218
Atmos
Energy
Corp.
9,605
1,461,209
Beijing
Enterprises
Holdings
Ltd.
45,323
156,185
Brookfield
Infrastructure
Corp.,
Class
a
A
11,220
449,249
Chesapeake
Utilities
Corp.
1,437
182,398
China
Gas
Holdings
Ltd.
251,955
218,681
China
Resources
Gas
Group
Ltd.
84,296
283,984
Enagas
SA
22,303
290,126
ENN
Energy
Holdings
Ltd.
71,055
472,357
Hong
Kong
&
China
Gas
Co.
Ltd.
1,020,626
813,661
Italgas
SpA
46,092
295,966
Kunlun
Energy
Co.
Ltd.
344,120
342,481
Naturgy
Energy
Group
SA
14,701
381,252
New
Jersey
Resources
Corp.
6,146
297,343
Northwest
Natural
Holding
Co.
2,465
100,769
ONE
Gas,
Inc.
3,504
263,326
Snam
SpA
193,750
934,386
Southwest
Gas
Holdings,
Inc.
3,724
279,486
Spire,
Inc.
3,586
275,620
Toho
Gas
Co.
Ltd.
8,834
240,957
Tokyo
Gas
Co.
Ltd.
32,446
1,020,356
9,319,010
Media
—
0.1%
SES
SA,
Class
a
A,
ADR
35,092
152,818
Investments
Shares
Value
Common
Stocks
(continued)
Multi-Utilities
—
11.6%
ACEA
SpA
4,168
$
76,399
CenterPoint
Energy,
Inc.
40,374
1,388,058
Consolidated
Edison,
Inc.
21,459
2,178,518
National
Grid
plc
481,949
5,910,876
NiSource,
Inc.
28,762
1,173,777
Northwestern
Energy
Group,
Inc.
3,792
212,087
Sempra
39,248
2,808,979
Unitil
Corp.
1,040
58,344
13,807,038
Oil,
Gas
&
Consumable
Fuels
—
29.9%
Antero
Midstream
Corp.
20,838
353,204
Cheniere
Energy,
Inc.
13,896
3,176,070
DT
Midstream,
Inc.
5,957
572,408
Enbridge,
Inc.
205,399
8,775,332
Gibson
Energy,
Inc.
15,154
225,202
Hess
Midstream
LP,
Class
a
A
7,117
296,992
Keyera
Corp.
21,451
629,111
Kinder
Morgan,
Inc.
119,710
3,244,141
Koninklijke
Vopak
NV
6,211
262,358
New
Fortress
Energy,
Inc.(b)
6,786
67,860
ONEOK,
Inc.
38,322
3,847,146
Pembina
Pipeline
Corp.
54,853
2,132,319
South
Bow
Corp.
19,437
517,245
Targa
Resources
Corp.
13,523
2,727,860
TC
Energy
Corp.
97,873
4,380,354
Williams
Cos.,
Inc.
(The)
75,517
4,393,579
35,601,181
Specialized
REITs
—
8.4%
American
Tower
Corp.,
REIT
28,934
5,949,409
Crown
Castle,
Inc.,
REIT
26,922
2,533,360
SBA
Communications
Corp.,
Class
a
A,
REIT
6,673
1,454,047
9,936,816
Transportation
Infrastructure
—
7.8%
Aena
SME
SA(a)
7,250
1,615,465
Aeroports
de
Paris
SA
3,807
389,588
Atlas
Arteria
Ltd.
104,468
328,001
Auckland
International
Airport
Ltd.
164,994
755,332
Beijing
Capital
International
Airport
Co.
Ltd.,
Class
a
H*
185,376
65,550
China
Merchants
Port
Holdings
Co.
Ltd.
115,943
189,634
Corp.
America
Airports
SA*
2,723
49,831
COSCO
SHIPPING
Ports
Ltd.
117,207
65,860
Flughafen
Zurich
AG
(Registered)
1,866
457,950
Fraport
AG
Frankfurt
Airport
Services
Worldwide*
3,101
178,534
Getlink
SE
30,768
509,717
Grupo
Aeroportuario
del
Centro
Norte
SAB
de
CV,
ADR
3,427
264,667
Grupo
Aeroportuario
del
Pacifico
SAB
de
CV,
ADR
4,006
761,340
DJ
BROOKFIELD
GLOBAL
INFRASTRUCTURE
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
4
TOLZ
::
Investments
Shares
Value
Common
Stocks
(continued)
Grupo
Aeroportuario
del
Sureste
SAB
de
CV,
ADR
1,724
$
466,894
Hutchison
Port
Holdings
Trust,
Class
a
U
487,044
80,362
Japan
Airport
Terminal
Co.
Ltd.
9,188
272,829
Jiangsu
Expressway
Co.
Ltd.,
Class
a
H
114,588
130,397
Shenzhen
Expressway
Corp.
Ltd.,
Class
a
H
58,074
49,135
Transurban
Group
306,165
2,498,176
Westshore
Terminals
Investment
Corp.
3,260
55,252
Yuexiu
Transport
Infrastructure
Ltd.
86,614
40,762
9,225,276
Water
Utilities
—
4.6%
American
States
Water
Co.
2,397
183,466
American
Water
Works
Co.,
Inc.
12,083
1,642,926
Beijing
Enterprises
Water
Group
Ltd.
445,939
130,163
California
Water
Service
Group
3,761
170,937
China
Water
Affairs
Group
Ltd.
82,640
63,757
Cia
de
Saneamento
Basico
do
Estado
de
Sao
Paulo
SABESP,
ADR(b)
44,917
723,613
Essential
Utilities,
Inc.
15,544
590,361
Pennon
Group
plc
46,391
244,392
Severn
Trent
plc
25,901
815,499
SJW
Group
1,905
100,336
United
Utilities
Group
plc
66,867
824,466
5,489,916
Total
Common
Stocks
(Cost
$112,106,943)
107,666,801
Master
Limited
Partnerships
—
8.6%
Multi-Utilities
—
0.6%
Brookfield
Infrastructure
Partners
LP
21,372
677,920
Oil,
Gas
&
Consumable
Fuels
—
8.0%
Cheniere
Energy
Partners
LP
2,517
170,426
Energy
Transfer
LP
190,889
3,682,249
Enterprise
Products
Partners
LP
89,972
3,005,965
Genesis
Energy
LP
7,191
92,332
MPLX
LP
23,186
1,249,957
Plains
All
American
Pipeline
LP
28,565
581,012
Plains
GP
Holdings
LP
Class
A
12,226
264,082
Western
Midstream
Partners
LP
11,937
484,403
9,530,426
Total
Master
Limited
Partnerships
(Cost
$8,612,632)
10,208,346
Closed
End
Funds
—
0.4%
Capital
Markets
—
0.4%
3i
Infrastructure
plc
64,549
255,768
Hicl
Infrastructure
plc
197,854
275,262
Total
Closed
End
Funds
(Cost
$700,270)
531,030
Investments
Shares
Value
Securities
Lending
Reinvestments
(c)
—
0.1%
Investment
Companies
—
0.1%
Invesco
Government
&
Agency
Portfolio,
Institutional
Class
4.29%
(d)
(Cost
$71,243)
71,243
$
71,243
Principal
Amount
Short-Term
Investments
—
0.2%
Repurchase
Agreements
(e)
—
0.2%
Repurchase
Agreements
with
various
counterparties,
rates
4.15%
-
4.36%,
dated
2/28/2025,
due
3/3/2025,
total
to
be
received
$265,203
(Cost
$265,106)
$
265,106
265,106
Total
Investments
—
99.8%
(Cost
$121,756,194)
118,742,526
Other
assets
less
liabilities
—
0.2%
282,967
Net
Assets
—
100.0%
$
119,025,493
*
Non-income
producing
security.
(a)
Security
exempt
from
registration
pursuant
to
Regulation
S
under
the
Securities
Act
of
1933.
Regulation
S
applies
to
securities
offerings
that
are
made
outside
of
the
United
States
and
do
not
involve
direct
selling
efforts
in
the
United
States
and
as
such
may
have
restrictions
on
resale.
(b)
The
security
or
a
portion
of
this
security
is
on
loan
at
February
28,
2025.
The
total
value
of
securities
on
loan
at
February
28,
2025
was
$193,508,
collateralized
in
the
form
of
cash
with
a
value
of
$71,243
that
was
reinvested
in
the
securities
shown
in
the
Securities
Lending
Reinvestment
section
of
the
Schedule
of
Portfolio
Investments
and
$131,449
of
collateral
in
the
form
of
U.S.
Government
Treasury
Securities,
interest
rates
ranging
from
0.38%
–
4.38%,
and
maturity
dates
ranging
from
January
31,
2026
–
February
15,
2050.
The
total
value
of
collateral
is
$202,692.
(c)
The
security
was
purchased
with
cash
collateral
held
from
securities
on
loan
at
February
28,
2025.
The
total
value
of
securities
purchased
was
$71,243.
(d)
Rate
shown
is
the
7-day
yield
as
of
February
28,
2025.
(e)
The
Fund
invests
in
Repurchase
Agreements
jointly
with
other
funds
in
the
Trust.
See
"Repurchase
Agreements"
in
the
Notes
to
Schedules
of
Portfolio
Investments
to
view
the
details
of
each
individual
agreement
and
counterparty
as
well
as
a
description
of
the
securities
subject
to
repurchase.
Abbreviations
ADR
American
Depositary
Receipt
REIT
Real
Estate
Investment
Trust
FEBRUARY
28,
2025
(Unaudited)
::
DJ
BROOKFIELD
GLOBAL
INFRASTRUCTURE
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
5
TOLZ
::
DJ
Brookfield
Global
Infrastructure
ETF
invested,
as
a
percentage
of
net
assets,
in
the
following
countries
as
of
February
28,
2025:
United
States
49.8%
Canada
17.6%
United
Kingdom
7.1%
Spain
6.1%
France
5.7%
Australia
2.8%
Italy
2.4%
China
2.0%
Japan
1.3%
Mexico
1.3%
Hong
Kong
1.1%
New
Zealand
0.6%
Brazil
0.6%
Switzerland
0.4%
Netherlands
0.2%
Belgium
0.2%
Germany
0.1%
Luxembourg
0.1%
Singapore
0.1%
Other
a
0.5%
100.0%
a
Includes
any
non-equity
securities
and
net
other
assets
(liabilities).
EQUITIES
FOR
RISING
RATES
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
6
EQRR
::
Investments
Shares
Value
Common
Stocks
—
99
.6
%
Banks
—
4.6%
Bank
of
America
Corp.
4,046
$
186,520
JPMorgan
Chase
&
Co.
744
196,900
Wells
Fargo
&
Co.
2,522
197,523
580,943
Beverages
—
1.9%
Constellation
Brands,
Inc.,
Class
a
A
1,342
235,521
Capital
Markets
—
3.0%
LPL
Financial
Holdings,
Inc.
539
200,368
Raymond
James
Financial,
Inc.
1,142
176,633
377,001
Chemicals
—
6.5%
CF
Industries
Holdings,
Inc.
1,410
114,238
Corteva,
Inc.
5,222
328,882
Linde
plc
282
131,708
LyondellBasell
Industries
NV,
Class
a
A
1,614
124,004
Westlake
Corp.
1,047
117,578
816,410
Consumer
Staples
Distribution
&
Retail
—
2.4%
Casey's
General
Stores,
Inc.
740
306,515
Containers
&
Packaging
—
1.9%
Avery
Dennison
Corp.
635
119,361
International
Paper
Co.
2,195
123,688
243,049
Energy
Equipment
&
Services
—
5.9%
Halliburton
Co.
13,386
352,989
Schlumberger
NV
9,488
395,270
748,259
Food
Products
—
9.2%
Archer-Daniels-Midland
Co.
5,910
278,952
Bunge
Global
SA
3,827
283,925
Hershey
Co.
(The)
1,739
300,343
Kraft
Heinz
Co.
(The)
9,742
299,177
1,162,397
Ground
Transportation
—
2.4%
Uber
Technologies,
Inc.*
3,911
297,275
Health
Care
Providers
&
Services
—
6.1%
CVS
Health
Corp.
6,718
441,507
McKesson
Corp.
517
331,014
772,521
Hotels,
Restaurants
&
Leisure
—
5.7%
Booking
Holdings,
Inc.
47
235,753
Hilton
Worldwide
Holdings,
Inc.
956
253,302
Marriott
International,
Inc.,
Class
a
A
843
236,419
725,474
Investments
Shares
Value
Common
Stocks
(continued)
Insurance
—
7.3%
American
International
Group,
Inc.
2,457
$
203,784
Loews
Corp.
2,118
183,567
MetLife,
Inc.
2,180
187,872
Prudential
Financial,
Inc.
1,506
173,341
Reinsurance
Group
of
America,
Inc.
848
171,881
920,445
Media
—
2.2%
Fox
Corp.,
Class
a
A
4,834
278,438
Metals
&
Mining
—
3.2%
Nucor
Corp.
1,019
140,082
Reliance,
Inc.
442
131,345
Steel
Dynamics,
Inc.
1,032
139,392
410,819
Oil,
Gas
&
Consumable
Fuels
—
24.2%
Chevron
Corp.
2,490
394,964
ConocoPhillips
3,700
366,855
Coterra
Energy,
Inc.
14,553
392,786
Diamondback
Energy,
Inc.
2,265
360,044
EOG
Resources,
Inc.
2,977
377,900
Exxon
Mobil
Corp.
3,368
374,959
Marathon
Petroleum
Corp.
2,642
396,776
Valero
Energy
Corp.
2,997
391,798
3,056,082
Passenger
Airlines
—
5.4%
Delta
Air
Lines,
Inc.
3,904
234,708
Southwest
Airlines
Co.
7,025
218,197
United
Airlines
Holdings,
Inc.*
2,399
225,050
677,955
Specialty
Retail
—
4.2%
AutoZone,
Inc.*
74
258,483
O'Reilly
Automotive,
Inc.*
199
273,354
531,837
Tobacco
—
2.5%
Altria
Group,
Inc.
5,705
318,624
Trading
Companies
&
Distributors
—
1.0%
Fastenal
Co.
1,638
124,046
Total
Common
Stocks
(Cost
$12,142,056)
12,583,611
FEBRUARY
28,
2025
(Unaudited)
::
EQUITIES
FOR
RISING
RATES
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
7
EQRR
::
Investments
Principal
Amount
Value
Short-Term
Investments
—
0
.1
%
Repurchase
Agreements
(a)
—
0
.1
%
Repurchase
Agreements
with
various
counterparties,
rates
4.15%
-
4.36%,
dated
2/28/2025,
due
3/3/2025,
total
to
be
received
$8,516
(Cost
$8,514)
$
8,514
$
8,514
Total
Investments
—
99.7%
(Cost
$12,150,570)
12,592,125
Other
assets
less
liabilities
—
0.3%
31,562
Net
Assets
—
100.0%
$
12,623,687
*
Non-income
producing
security.
(a)
The
Fund
invests
in
Repurchase
Agreements
jointly
with
other
funds
in
the
Trust.
See
"Repurchase
Agreements"
in
the
Notes
to
Schedules
of
Portfolio
Investments
to
view
the
details
of
each
individual
agreement
and
counterparty
as
well
as
a
description
of
the
securities
subject
to
repurchase.
GLOBAL
LISTED
PRIVATE
EQUITY
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
8
PEX
::
Investments
Shares
Value
Common
Stocks
—
87.8%
Capital
Markets
—
73.8%
3i
Group
plc
29,502
$
1,468,465
Ares
Capital
Corp.
61,061
1,427,606
Barings
BDC,
Inc.
19,729
205,576
Capital
Southwest
Corp.(a)
9,859
229,616
FS
KKR
Capital
Corp.(a)
57,734
1,355,594
Gimv
NV
4,650
180,647
Goldman
Sachs
BDC,
Inc.
23,920
311,917
Golub
Capital
BDC,
Inc.
40,348
632,253
Hercules
Capital,
Inc.
30,291
633,385
IP
Group
plc*
207,184
112,196
Main
Street
Capital
Corp.(a)
17,422
1,059,258
MidCap
Financial
Investment
Corp.
19,590
269,950
New
Mountain
Finance
Corp.
19,841
231,148
Oaktree
Specialty
Lending
Corp.
16,554
266,850
Onex
Corp.
12,779
943,972
Prospect
Capital
Corp.
75,853
333,753
Ratos
AB,
Class
a
B
42,158
148,082
Sixth
Street
Specialty
Lending,
Inc.
20,129
473,233
SLR
Investment
Corp.
10,283
181,289
10,464,790
Financial
Services
—
14.0%
Compass
Diversified
Holdings
14,294
312,896
Eurazeo
SE
8,200
646,902
Kinnevik
AB,
Class
a
B*
51,479
415,433
Wendel
SE
6,028
604,054
1,979,285
Total
Common
Stocks
(Cost
$11,796,078)
12,444,075
Closed
End
Funds
—
11.6%
Capital
Markets
—
11.6%
Apax
Global
Alpha
Ltd.(b)
84,439
143,604
HBM
Healthcare
Investments
AG
Class
A
1,214
261,367
HgCapital
Trust
plc
89,899
594,822
NB
Private
Equity
Partners
Ltd.
8,250
162,514
Oakley
Capital
Investments
Ltd.
30,390
181,199
Partners
Group
Private
Equity
Ltd.
12,884
136,994
Syncona
Ltd.*
132,286
158,914
Total
Closed
End
Funds
(Cost
$1,583,713)
1,639,414
Securities
Lending
Reinvestments
(c)
—
7.6%
Investment
Companies
—
7.6%
Invesco
Government
&
Agency
Portfolio,
Institutional
Class
4.29%
(d)
(Cost
$1,070,990)
1,070,990
1,070,990
Investments
Principal
Amount
Value
Short-Term
Investments
—
0.5%
Repurchase
Agreements
(e)
—
0.5%
Repurchase
Agreements
with
various
counterparties,
rates
4.15%
-
4.36%,
dated
2/28/2025,
due
3/3/2025,
total
to
be
received
$75,735
(Cost
$75,709)
$
75,709
$
75,709
Total
Investments
—
107.5%
(Cost
$14,526,490)
15,230,188
Liabilities
in
excess
of
other
assets
—
(7.5%)
(1,060,525)
Net
Assets
—
100.0%
$
14,169,663
*
Non-income
producing
security.
(a)
The
security
or
a
portion
of
this
security
is
on
loan
at
February
28,
2025.
The
total
value
of
securities
on
loan
at
February
28,
2025
was
$2,059,274,
collateralized
in
the
form
of
cash
with
a
value
of
$1,070,990
that
was
reinvested
in
the
securities
shown
in
the
Securities
Lending
Reinvestment
section
of
the
Schedule
of
Portfolio
Investments
and
$969,347
of
collateral
in
the
form
of
U.S.
Government
Treasury
Securities,
interest
rates
ranging
from
0.00%
–
5.00%,
and
maturity
dates
ranging
from
March
13,
2025
–
August
15,
2051.
The
total
value
of
collateral
is
$2,040,337.
The
market
value
of
the
loaned
securities
is
determined
at
the
close
of
each
business
day
of
the
Fund
and
any
additional
required
collateral
is
delivered
to
the
Fund,
or
excess
collateral
returned
by
the
Fund,
on
the
next
business
day.
(b)
Security
exempt
from
registration
pursuant
to
Regulation
S
under
the
Securities
Act
of
1933.
Regulation
S
applies
to
securities
offerings
that
are
made
outside
of
the
United
States
and
do
not
involve
direct
selling
efforts
in
the
United
States
and
as
such
may
have
restrictions
on
resale.
(c)
The
security
was
purchased
with
cash
collateral
held
from
securities
on
loan
at
February
28,
2025.
The
total
value
of
securities
purchased
was
$1,070,990.
(d)
Rate
shown
is
the
7-day
yield
as
of
February
28,
2025.
(e)
The
Fund
invests
in
Repurchase
Agreements
jointly
with
other
funds
in
the
Trust.
See
"Repurchase
Agreements"
in
the
Notes
to
Schedules
of
Portfolio
Investments
to
view
the
details
of
each
individual
agreement
and
counterparty
as
well
as
a
description
of
the
securities
subject
to
repurchase.
FEBRUARY
28,
2025
(Unaudited)
::
GLOBAL
LISTED
PRIVATE
EQUITY
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
9
PEX
::
Global
Listed
Private
Equity
ETF
invested,
as
a
percentage
of
net
assets,
in
the
following
countries
as
of
February
28,
2025:
United
States
55.9%
United
Kingdom
20.9%
France
8.8%
Canada
6.7%
Sweden
4.0%
Switzerland
1.8%
Belgium
1.3%
Other
a
0.6%
100.0%
a
Includes
any
non-equity
securities
and
net
other
assets
(liabilities).
HEDGE
REPLICATION
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
10
HDG
::
Investments
Shares
Value
Common
Stocks
—
12
.2
%
Aerospace
&
Defense
—
0.2%
AAR
Corp.*
41
$
2,666
AeroVironment,
Inc.*
33
4,937
AerSale
Corp.*
40
280
Archer
Aviation,
Inc.,
Class
a
A*
275
2,442
Astronics
Corp.*
34
680
Byrna
Technologies,
Inc.*
20
515
Cadre
Holdings,
Inc.
31
1,042
Ducommun,
Inc.*
16
938
Eve
Holding,
Inc.*
60
247
Intuitive
Machines,
Inc.*
36
525
Kratos
Defense
&
Security
Solutions,
Inc.*
174
4,592
Leonardo
DRS,
Inc.*
87
2,649
Mercury
Systems,
Inc.*
61
2,709
Moog,
Inc.,
Class
a
A
33
5,626
National
Presto
Industries,
Inc.*
6
610
Park
Aerospace
Corp.
22
304
Redwire
Corp.*
27
377
Rocket
Lab
USA,
Inc.*
409
8,380
Triumph
Group,
Inc.*
86
2,183
V2X,
Inc.*
17
798
Virgin
Galactic
Holdings,
Inc.*
31
118
VirTra,
Inc.*
13
78
42,696
Air
Freight
&
Logistics
—
0.0%(a)
Air
Transport
Services
Group,
Inc.*
60
1,340
Forward
Air
Corp.*
29
652
Hub
Group,
Inc.,
Class
a
A
71
2,918
Radiant
Logistics,
Inc.*
42
284
5,194
Automobile
Components
—
0.1%
Adient
plc*
102
1,615
American
Axle
&
Manufacturing
Holdings,
Inc.*
135
670
Cooper-Standard
Holdings,
Inc.*
20
303
Dana,
Inc.
154
2,290
Dorman
Products,
Inc.*
30
3,944
Fox
Factory
Holding
Corp.*
50
1,386
Gentherm,
Inc.*
36
1,191
Goodyear
Tire
&
Rubber
Co.
(The)*
335
3,166
Holley,
Inc.*
55
150
LCI
Industries
29
3,011
Luminar
Technologies,
Inc.,
Class
a
A*
26
135
Modine
Manufacturing
Co.*
61
5,158
Patrick
Industries,
Inc.
38
3,443
Phinia,
Inc.
49
2,416
Solid
Power,
Inc.*
182
224
Standard
Motor
Products,
Inc.
25
713
Stoneridge,
Inc.*
32
180
Visteon
Corp.*
32
2,775
XPEL,
Inc.*(b)
30
1,003
33,773
Investments
Shares
Value
Common
Stocks
(continued)
Automobiles
—
0.0%(a)
Livewire
Group,
Inc.*
21
$
48
Winnebago
Industries,
Inc.
33
1,334
1,382
Banks
—
1.2%
1st
Source
Corp.
22
1,428
ACNB
Corp.
10
410
Amalgamated
Financial
Corp.
21
681
Amerant
Bancorp,
Inc.,
Class
a
A
44
1,010
Ameris
Bancorp
77
4,973
Ames
National
Corp.
10
188
Arrow
Financial
Corp.
19
514
Associated
Banc-Corp.
190
4,722
Atlantic
Union
Bankshares
Corp.
105
3,745
Axos
Financial,
Inc.*
64
4,275
Banc
of
California,
Inc.
164
2,439
BancFirst
Corp.
23
2,745
Bancorp,
Inc.
(The)*
55
3,070
Bank
First
Corp.
11
1,152
Bank
of
Hawaii
Corp.
46
3,322
Bank
of
Marin
Bancorp
19
463
Bank
of
NT
Butterfield
&
Son
Ltd.
(The)
52
2,018
Bank7
Corp.
5
206
BankUnited,
Inc.
88
3,307
Bankwell
Financial
Group,
Inc.
8
254
Banner
Corp.
40
2,759
Bar
Harbor
Bankshares
18
578
BayCom
Corp.
12
330
BCB
Bancorp,
Inc.
18
182
Berkshire
Hills
Bancorp,
Inc.
51
1,453
Blue
Foundry
Bancorp*
24
238
Bridgewater
Bancshares,
Inc.*
23
334
Brookline
Bancorp,
Inc.
104
1,227
Burke
&
Herbert
Financial
Services
Corp.
16
998
Business
First
Bancshares,
Inc.
28
743
Byline
Bancorp,
Inc.
37
1,056
Cadence
Bank
214
7,096
California
BanCorp*
29
464
Camden
National
Corp.
17
748
Capital
Bancorp,
Inc.
11
336
Capital
City
Bank
Group,
Inc.
16
594
Capitol
Federal
Financial,
Inc.
146
864
Carter
Bankshares,
Inc.*
27
468
Cathay
General
Bancorp
82
3,850
Central
Pacific
Financial
Corp.
31
900
Chemung
Financial
Corp.
4
207
ChoiceOne
Financial
Services,
Inc.
10
318
Citizens
&
Northern
Corp.
18
384
Citizens
Financial
Services,
Inc.
5
302
City
Holding
Co.
17
2,023
Civista
Bancshares,
Inc.
18
371
CNB
Financial
Corp.
24
599
Coastal
Financial
Corp.*
13
1,283
Colony
Bankcorp,
Inc.
19
321
FEBRUARY
28,
2025
(Unaudited)
::
HEDGE
REPLICATION
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
11
HDG
::
Investments
Shares
Value
Common
Stocks
(continued)
Columbia
Financial,
Inc.*
32
$
508
Community
Financial
System,
Inc.
62
3,924
Community
Trust
Bancorp,
Inc.
18
983
Community
West
Bancshares
20
386
ConnectOne
Bancorp,
Inc.
43
1,098
Customers
Bancorp,
Inc.*
35
1,890
CVB
Financial
Corp.
156
3,147
Dime
Community
Bancshares,
Inc.
42
1,302
Eagle
Bancorp,
Inc.
35
814
Eastern
Bankshares,
Inc.
227
4,061
Enterprise
Bancorp,
Inc.
12
518
Enterprise
Financial
Services
Corp.
44
2,600
Equity
Bancshares,
Inc.,
Class
a
A
17
730
Esquire
Financial
Holdings,
Inc.
8
617
ESSA
Bancorp,
Inc.
10
210
Farmers
&
Merchants
Bancorp,
Inc.
15
386
Farmers
National
Banc
Corp.
43
623
FB
Financial
Corp.
42
2,122
Fidelity
D&D
Bancorp,
Inc.
6
269
Financial
Institutions,
Inc.
18
504
First
Bancorp
191
3,719
First
Bancorp
47
1,972
First
Bancorp,
Inc.
(The)
13
341
First
Bancshares,
Inc.
(The)
36
1,284
First
Bank
25
382
First
Busey
Corp.
98
2,351
First
Business
Financial
Services,
Inc.
9
478
First
Commonwealth
Financial
Corp.
119
1,956
First
Community
Bankshares,
Inc.
20
839
First
Financial
Bancorp
111
3,043
First
Financial
Bankshares,
Inc.
153
5,762
First
Financial
Corp.
13
672
First
Financial
Northwest,
Inc.
8
170
First
Foundation,
Inc.
75
382
First
Internet
Bancorp
10
297
First
Interstate
BancSystem,
Inc.,
Class
a
A
93
2,855
First
Merchants
Corp.
69
3,022
First
Mid
Bancshares,
Inc.
27
1,029
First
of
Long
Island
Corp.
(The)
25
329
First
Western
Financial,
Inc.*
10
199
Five
Star
Bancorp
20
609
Flagstar
Financial,
Inc.
298
3,576
Flushing
Financial
Corp.
32
459
FS
Bancorp,
Inc.
8
315
Fulton
Financial
Corp.
214
4,241
FVCBankcorp,
Inc.*
20
236
German
American
Bancorp,
Inc.
34
1,357
Glacier
Bancorp,
Inc.
134
6,545
Great
Southern
Bancorp,
Inc.
10
590
Greene
County
Bancorp,
Inc.
8
207
Guaranty
Bancshares,
Inc.
9
364
Hancock
Whitney
Corp.
102
5,827
Investments
Shares
Value
Common
Stocks
(continued)
Hanmi
Financial
Corp.
35
$
840
HarborOne
Bancorp,
Inc.
45
522
HBT
Financial,
Inc.
15
375
Heritage
Commerce
Corp.
70
743
Heritage
Financial
Corp.
40
1,011
Hilltop
Holdings,
Inc.
55
1,759
Hingham
Institution
For
Savings
(The)
2
519
Home
Bancorp,
Inc.
8
376
Home
BancShares,
Inc.
219
6,559
HomeStreet,
Inc.*
22
221
HomeTrust
Bancshares,
Inc.
17
624
Hope
Bancorp,
Inc.
136
1,485
Horizon
Bancorp,
Inc.
51
869
Independent
Bank
Corp.
23
782
Independent
Bank
Corp.
50
3,428
International
Bancshares
Corp.
64
4,288
Investar
Holding
Corp.
11
206
John
Marshall
Bancorp,
Inc.
15
280
Kearny
Financial
Corp.
64
447
Lakeland
Financial
Corp.
29
1,926
LCNB
Corp.
15
232
LINKBANCORP,
Inc.
26
198
Live
Oak
Bancshares,
Inc.
41
1,304
Mercantile
Bank
Corp.
19
916
Metrocity
Bankshares,
Inc.
22
666
Metropolitan
Bank
Holding
Corp.*
12
725
Mid
Penn
Bancorp,
Inc.
18
511
Middlefield
Banc
Corp.
9
241
Midland
States
Bancorp,
Inc.
24
465
MidWestOne
Financial
Group,
Inc.
22
670
MVB
Financial
Corp.
14
259
National
Bank
Holdings
Corp.,
Class
a
A
43
1,800
National
Bankshares,
Inc.
7
197
NB
Bancorp,
Inc.*
46
889
NBT
Bancorp,
Inc.
54
2,578
Nicolet
Bankshares,
Inc.
16
1,918
Northeast
Bank
8
803
Northeast
Community
Bancorp,
Inc.
14
326
Northfield
Bancorp,
Inc.
45
530
Northrim
Bancorp,
Inc.
6
494
Northwest
Bancshares,
Inc.
150
1,893
Norwood
Financial
Corp.
9
233
Oak
Valley
Bancorp
8
217
OceanFirst
Financial
Corp.
68
1,225
OFG
Bancorp
54
2,294
Old
National
Bancorp
370
8,788
Old
Second
Bancorp,
Inc.
51
935
Orange
County
Bancorp,
Inc.
12
307
Origin
Bancorp,
Inc.
35
1,355
Orrstown
Financial
Services,
Inc.
22
737
Pacific
Premier
Bancorp,
Inc.
113
2,700
Park
National
Corp.
17
2,829
Parke
Bancorp,
Inc.
12
240
Pathward
Financial,
Inc.
30
2,325
PCB
Bancorp
13
255
HEDGE
REPLICATION
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
12
HDG
::
Investments
Shares
Value
Common
Stocks
(continued)
Peapack-Gladstone
Financial
Corp.
20
$
647
Peoples
Bancorp
of
North
Carolina,
Inc.
5
132
Peoples
Bancorp,
Inc.
41
1,312
Peoples
Financial
Services
Corp.
11
537
Pioneer
Bancorp,
Inc.*
14
167
Plumas
Bancorp
6
276
Ponce
Financial
Group,
Inc.*
23
302
Preferred
Bank
15
1,331
Primis
Financial
Corp.
24
252
Princeton
Bancorp,
Inc.
6
197
Provident
Bancorp,
Inc.*
18
217
Provident
Financial
Services,
Inc.
148
2,701
QCR
Holdings,
Inc.
19
1,431
RBB
Bancorp
19
336
Red
River
Bancshares,
Inc.
5
282
Renasant
Corp.
74
2,679
Republic
Bancorp,
Inc.,
Class
a
A
10
678
S&T
Bancorp,
Inc.
45
1,810
Sandy
Spring
Bancorp,
Inc.
52
1,662
Seacoast
Banking
Corp.
of
Florida
99
2,800
ServisFirst
Bancshares,
Inc.
60
5,484
Shore
Bancshares,
Inc.
36
545
Sierra
Bancorp
15
461
Simmons
First
National
Corp.,
Class
a
A
146
3,208
SmartFinancial,
Inc.
19
660
South
Plains
Financial,
Inc.
14
493
Southern
First
Bancshares,
Inc.*
9
307
Southern
Missouri
Bancorp,
Inc.
11
641
Southern
States
Bancshares,
Inc.
10
325
Southside
Bancshares,
Inc.
34
1,046
SouthState
Corp.
115
11,592
Stellar
Bancorp,
Inc.
58
1,687
Sterling
Bancorp,
Inc.*
25
118
Stock
Yards
Bancorp,
Inc.
30
2,186
Texas
Capital
Bancshares,
Inc.*
55
4,354
Third
Coast
Bancshares,
Inc.*
13
466
Timberland
Bancorp,
Inc.
9
288
Tompkins
Financial
Corp.
15
1,033
Towne
Bank
83
3,061
TriCo
Bancshares
38
1,661
Triumph
Financial,
Inc.*
26
1,790
TrustCo
Bank
Corp.
22
726
Trustmark
Corp.
72
2,634
UMB
Financial
Corp.
80
8,826
United
Bankshares,
Inc.
156
5,638
United
Community
Banks,
Inc.
141
4,544
Unity
Bancorp,
Inc.
8
380
Univest
Financial
Corp.
34
1,039
USCB
Financial
Holdings,
Inc.
12
234
Valley
National
Bancorp
551
5,422
Veritex
Holdings,
Inc.
62
1,633
Investments
Shares
Value
Common
Stocks
(continued)
Virginia
National
Bankshares
Corp.
5
$
182
WaFd,
Inc.
79
2,338
Washington
Trust
Bancorp,
Inc.
20
642
WesBanco,
Inc.
101
3,542
West
Bancorp,
Inc.
19
430
Westamerica
Bancorp
30
1,564
WSFS
Financial
Corp.
70
3,800
328,092
Beverages
—
0.1%
MGP
Ingredients,
Inc.
17
557
National
Beverage
Corp.
28
1,115
Primo
Brands
Corp.,
Class
a
A
186
6,266
Vita
Coco
Co.,
Inc.
(The)*
46
1,492
9,430
Biotechnology
—
1.0%
2seventy
bio,
Inc.*
58
153
4D
Molecular
Therapeutics,
Inc.*
59
267
89bio,
Inc.*
99
914
Absci
Corp.*
94
362
ACADIA
Pharmaceuticals,
Inc.*
141
2,764
ACELYRIN,
Inc.*
86
230
Achieve
Life
Sciences,
Inc.*
41
126
Acrivon
Therapeutics,
Inc.*
14
74
Actinium
Pharmaceuticals,
Inc.*
37
43
Acumen
Pharmaceuticals,
Inc.*
49
63
ADC
Therapeutics
SA*
96
169
ADMA
Biologics,
Inc.*
265
4,343
Adverum
Biotechnologies,
Inc.*
24
113
Aerovate
Therapeutics,
Inc.*
16
39
Agenus,
Inc.*
25
71
Agios
Pharmaceuticals,
Inc.*
67
2,381
Akebia
Therapeutics,
Inc.*
245
453
Akero
Therapeutics,
Inc.*
80
3,930
Aldeyra
Therapeutics,
Inc.*
59
301
Alector,
Inc.*
95
156
Alkermes
plc*
190
6,523
Allogene
Therapeutics,
Inc.*
151
294
Altimmune,
Inc.*
84
559
ALX
Oncology
Holdings,
Inc.*
41
45
Amicus
Therapeutics,
Inc.*
345
3,274
AnaptysBio,
Inc.*
25
420
Anavex
Life
Sciences
Corp.*
88
696
Anika
Therapeutics,
Inc.*
15
262
Annexon,
Inc.*
115
304
Apogee
Therapeutics,
Inc.*
45
1,415
Applied
Therapeutics,
Inc.*
113
57
Arbutus
Biopharma
Corp.*
172
593
Arcellx,
Inc.*
51
3,306
Arcturus
Therapeutics
Holdings,
Inc.*
27
453
Arcus
Biosciences,
Inc.*
64
697
Arcutis
Biotherapeutics,
Inc.*
127
1,739
Ardelyx,
Inc.*
277
1,485
ArriVent
Biopharma,
Inc.*
33
779
Arrowhead
Pharmaceuticals,
Inc.*
140
2,647
FEBRUARY
28,
2025
(Unaudited)
::
HEDGE
REPLICATION
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
13
HDG
::
Investments
Shares
Value
Common
Stocks
(continued)
ARS
Pharmaceuticals,
Inc.*
58
$
608
Artiva
Biotherapeutics,
Inc.*
17
71
Astria
Therapeutics,
Inc.*
54
348
Atossa
Therapeutics,
Inc.*
149
114
Aura
Biosciences,
Inc.*
55
412
Aurinia
Pharmaceuticals,
Inc.*
158
1,256
Avidity
Biosciences,
Inc.*
131
4,014
Avita
Medical,
Inc.*
30
273
Beam
Therapeutics,
Inc.*
90
2,371
Bicara
Therapeutics,
Inc.*
23
306
BioCryst
Pharmaceuticals,
Inc.*
243
2,092
Biohaven
Ltd.*
101
3,755
Biomea
Fusion,
Inc.*
33
95
Black
Diamond
Therapeutics,
Inc.*
47
94
Bluebird
Bio,
Inc.*
11
45
Blueprint
Medicines
Corp.*
75
7,243
Boundless
Bio,
Inc.*
20
39
Bridgebio
Pharma,
Inc.*
165
5,758
C4
Therapeutics,
Inc.*
71
192
Cabaletta
Bio,
Inc.*
53
96
CAMP4
Therapeutics
Corp.*
8
39
Candel
Therapeutics,
Inc.*
25
224
Capricor
Therapeutics,
Inc.*
43
661
Cardiff
Oncology,
Inc.*
48
204
CareDx,
Inc.*
60
1,329
Cargo
Therapeutics,
Inc.*
40
150
Caribou
Biosciences,
Inc.*
97
113
Cartesian
Therapeutics,
Inc.*
13
245
Catalyst
Pharmaceuticals,
Inc.*
132
3,021
Celcuity,
Inc.*
38
358
Celldex
Therapeutics,
Inc.*
76
1,563
Century
Therapeutics,
Inc.*
55
38
CervoMed,
Inc.*
6
13
CG
oncology,
Inc.*
56
1,448
Cibus,
Inc.,
Class
a
A*
21
43
Climb
Bio,
Inc.*
35
51
Cogent
Biosciences,
Inc.*
108
813
Coherus
Biosciences,
Inc.*
131
145
Compass
Therapeutics,
Inc.*
120
348
Corbus
Pharmaceuticals
Holdings,
Inc.*
14
106
Crinetics
Pharmaceuticals,
Inc.*
103
3,685
Cullinan
Therapeutics,
Inc.*
61
518
Cytokinetics,
Inc.*
135
6,210
Day
One
Biopharmaceuticals,
Inc.*
61
553
Denali
Therapeutics,
Inc.*
146
2,418
Design
Therapeutics,
Inc.*
37
180
Dianthus
Therapeutics,
Inc.*
28
605
Disc
Medicine,
Inc.*
23
1,292
Dynavax
Technologies
Corp.*
155
2,137
Dyne
Therapeutics,
Inc.*
97
1,320
Editas
Medicine,
Inc.*
98
188
Elevation
Oncology,
Inc.*
66
35
Enanta
Pharmaceuticals,
Inc.*
24
187
Entrada
Therapeutics,
Inc.*
29
346
Erasca,
Inc.*
216
296
Fate
Therapeutics,
Inc.*
118
132
Fennec
Pharmaceuticals,
Inc.*
28
197
Investments
Shares
Value
Common
Stocks
(continued)
Fibrobiologics,
Inc.*
32
$
40
Foghorn
Therapeutics,
Inc.*
30
145
Galectin
Therapeutics,
Inc.*
24
38
Generation
Bio
Co.*
58
34
Geron
Corp.*
696
1,225
Greenwich
Lifesciences,
Inc.*
7
86
Gyre
Therapeutics,
Inc.*
8
93
Halozyme
Therapeutics,
Inc.*
147
8,695
Heron
Therapeutics,
Inc.*
138
341
HilleVax,
Inc.*
37
66
Humacyte,
Inc.*
103
350
Ideaya
Biosciences,
Inc.*
99
2,036
IGM
Biosciences,
Inc.*
18
24
ImmunityBio,
Inc.*
170
559
Immunome,
Inc.*
60
564
Immunovant,
Inc.*
68
1,401
Inhibrx
Biosciences,
Inc.*
14
186
Inmune
Bio,
Inc.*
16
128
Inovio
Pharmaceuticals,
Inc.*
31
61
Inozyme
Pharma,
Inc.*
62
74
Insmed,
Inc.*
203
16,555
Intellia
Therapeutics,
Inc.*
119
1,201
Invivyd,
Inc.*
93
108
Iovance
Biotherapeutics,
Inc.*
323
1,368
Ironwood
Pharmaceuticals,
Inc.,
Class
a
A*
166
267
iTeos
Therapeutics,
Inc.*
31
225
Janux
Therapeutics,
Inc.*
33
1,085
Jasper
Therapeutics,
Inc.
(Registered)*
13
77
KalVista
Pharmaceuticals,
Inc.*
40
456
Keros
Therapeutics,
Inc.*
36
399
Kiniksa
Pharmaceuticals
International
plc,
Class
a
A*
45
913
Kodiak
Sciences,
Inc.*
38
156
Korro
Bio,
Inc.*
7
175
Krystal
Biotech,
Inc.*
29
5,198
Kura
Oncology,
Inc.*
85
655
Kymera
Therapeutics,
Inc.*
55
1,724
Kyverna
Therapeutics,
Inc.*
30
85
Larimar
Therapeutics,
Inc.*
50
151
LENZ
Therapeutics,
Inc.
15
327
Lexeo
Therapeutics,
Inc.*
28
80
Lexicon
Pharmaceuticals,
Inc.*
135
94
Lineage
Cell
Therapeutics,
Inc.*
174
98
Lyell
Immunopharma,
Inc.*
191
136
MacroGenics,
Inc.*
72
177
Madrigal
Pharmaceuticals,
Inc.*
21
7,167
MannKind
Corp.*
317
1,693
MeiraGTx
Holdings
plc*
55
392
Mersana
Therapeutics,
Inc.*
133
70
Metagenomi,
Inc.*
32
66
MiMedx
Group,
Inc.*
140
1,177
Mineralys
Therapeutics,
Inc.*
34
311
Mirum
Pharmaceuticals,
Inc.*
47
2,236
Monte
Rosa
Therapeutics,
Inc.*
49
270
Myriad
Genetics,
Inc.*
105
1,127
Neurogene,
Inc.*
12
212
Nkarta,
Inc.*
62
108
Novavax,
Inc.*
181
1,508
HEDGE
REPLICATION
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
14
HDG
::
Investments
Shares
Value
Common
Stocks
(continued)
Nurix
Therapeutics,
Inc.*
83
$
1,282
Nuvalent,
Inc.,
Class
a
A*
41
3,074
Ocugen,
Inc.*
337
220
Olema
Pharmaceuticals,
Inc.*
48
210
Organogenesis
Holdings,
Inc.,
Class
a
A*
85
528
ORIC
Pharmaceuticals,
Inc.*
72
578
Outlook
Therapeutics,
Inc.*
18
27
Ovid
therapeutics,
Inc.*
69
37
PepGen,
Inc.*
18
57
Perspective
Therapeutics,
Inc.*
64
178
Praxis
Precision
Medicines,
Inc.*
20
772
Precigen,
Inc.*
159
275
Prelude
Therapeutics,
Inc.*
16
12
Prime
Medicine,
Inc.*
67
169
ProKidney
Corp.,
Class
a
A*
129
159
Protagonist
Therapeutics,
Inc.*
69
2,594
Prothena
Corp.
plc*
50
791
PTC
Therapeutics,
Inc.*
90
4,973
Puma
Biotechnology,
Inc.*
50
179
Pyxis
Oncology,
Inc.*
57
68
Q32
Bio,
Inc.*
7
16
RAPT
Therapeutics,
Inc.*
35
40
Recursion
Pharmaceuticals,
Inc.,
Class
a
A*
293
2,200
REGENXBIO,
Inc.*
54
355
Regulus
Therapeutics,
Inc.*
74
100
Relay
Therapeutics,
Inc.*
143
488
Renovaro,
Inc.*
136
134
Replimune
Group,
Inc.*
72
913
Revolution
Medicines,
Inc.*
197
8,026
Rhythm
Pharmaceuticals,
Inc.*
64
3,514
Rigel
Pharmaceuticals,
Inc.*
20
461
Rocket
Pharmaceuticals,
Inc.*
77
728
Sage
Therapeutics,
Inc.*
64
467
Sana
Biotechnology,
Inc.*
156
407
Savara,
Inc.*
136
339
Scholar
Rock
Holding
Corp.*
91
3,533
Sera
Prognostics,
Inc.,
Class
a
A*
33
140
Shattuck
Labs,
Inc.*
46
61
Skye
Bioscience,
Inc.*
23
66
Soleno
Therapeutics,
Inc.*
30
1,465
Solid
Biosciences,
Inc.*
27
151
SpringWorks
Therapeutics,
Inc.*
81
4,679
Spyre
Therapeutics,
Inc.*
41
808
Stoke
Therapeutics,
Inc.*
42
330
Summit
Therapeutics,
Inc.*
108
2,235
Sutro
Biopharma,
Inc.*
96
153
Syndax
Pharmaceuticals,
Inc.*
97
1,517
Tango
Therapeutics,
Inc.*
56
116
Taysha
Gene
Therapies,
Inc.*
206
330
Tenaya
Therapeutics,
Inc.*
65
66
Tevogen
Bio
Holdings,
Inc.*
27
35
TG
Therapeutics,
Inc.*
164
4,935
Tourmaline
Bio,
Inc.*
27
353
Travere
Therapeutics,
Inc.*
89
1,905
TScan
Therapeutics,
Inc.*
45
95
Twist
Bioscience
Corp.*
69
2,679
Tyra
Biosciences,
Inc.*
24
281
Investments
Shares
Value
Common
Stocks
(continued)
Upstream
Bio,
Inc.*
20
$
159
UroGen
Pharma
Ltd.*
46
435
Vanda
Pharmaceuticals,
Inc.*
67
319
Vaxcyte,
Inc.*
146
10,661
Vera
Therapeutics,
Inc.,
Class
a
A*
52
1,556
Veracyte,
Inc.*
90
3,128
Verastem,
Inc.*
46
257
Vericel
Corp.*
58
2,975
Verve
Therapeutics,
Inc.*
84
532
Vir
Biotechnology,
Inc.*
105
881
Viridian
Therapeutics,
Inc.*
86
1,336
Voyager
Therapeutics,
Inc.*
54
220
Werewolf
Therapeutics,
Inc.*
36
45
X4
Pharmaceuticals,
Inc.*
198
78
XBiotech,
Inc.*
23
81
Xencor,
Inc.*
79
1,213
XOMA
Royalty
Corp.*
9
204
Y-mAbs
Therapeutics,
Inc.*
44
245
Zenas
Biopharma,
Inc.*
18
126
Zentalis
Pharmaceuticals,
Inc.*
67
139
Zura
Bio
Ltd.,
Class
a
A*
58
79
Zymeworks,
Inc.*
64
858
252,917
Broadline
Retail
—
0.0%(a)
1stdibs.com,
Inc.*
30
110
Groupon,
Inc.,
Class
a
A*
27
300
Qurate
Retail
Group,
Inc.,
Class
a
B*
1
10
Savers
Value
Village,
Inc.*
28
209
629
Building
Products
—
0.3%
American
Woodmark
Corp.*
18
1,117
Apogee
Enterprises,
Inc.
26
1,246
AZZ,
Inc.
35
3,364
Caesarstone
Ltd.*
24
91
CSW
Industrials,
Inc.
20
6,122
Gibraltar
Industries,
Inc.*
36
2,366
Griffon
Corp.
44
3,183
Insteel
Industries,
Inc.
22
619
Janus
International
Group,
Inc.*
167
1,351
JELD-WEN
Holding,
Inc.*
99
544
Masterbrand,
Inc.*
149
2,085
Quanex
Building
Products
Corp.
53
1,022
Resideo
Technologies,
Inc.*
172
3,304
Tecnoglass,
Inc.
26
1,915
UFP
Industries,
Inc.
71
7,597
Zurn
Elkay
Water
Solutions
Corp.
170
6,023
41,949
Capital
Markets
—
0.3%
Acadian
Asset
Management,
Inc.
32
789
AlTi
Global,
Inc.*
41
142
Artisan
Partners
Asset
Management,
Inc.,
Class
a
A
74
3,124
FEBRUARY
28,
2025
(Unaudited)
::
HEDGE
REPLICATION
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
15
HDG
::
Investments
Shares
Value
Common
Stocks
(continued)
B
Riley
Financial,
Inc.
24
$
153
BGC
Group,
Inc.,
Class
a
A
429
4,247
Cohen
&
Steers,
Inc.
32
2,797
Diamond
Hill
Investment
Group,
Inc.
3
438
DigitalBridge
Group,
Inc.
187
2,126
Donnelley
Financial
Solutions,
Inc.*
30
1,487
Forge
Global
Holdings,
Inc.*
137
137
GCM
Grosvenor,
Inc.,
Class
a
A
50
706
Hamilton
Lane,
Inc.,
Class
a
A
45
7,034
MarketWise,
Inc.
46
28
Moelis
&
Co.,
Class
a
A
83
5,863
Open
Lending
Corp.*
120
586
P10,
Inc.,
Class
a
A
48
613
Patria
Investments
Ltd.,
Class
a
A
66
748
Perella
Weinberg
Partners,
Class
a
A
61
1,410
Piper
Sandler
Cos.
20
5,792
PJT
Partners,
Inc.,
Class
a
A
27
4,300
Resolute
Holdings
Management,
Inc.*
2
113
Silvercrest
Asset
Management
Group,
Inc.,
Class
a
A
11
199
StepStone
Group,
Inc.,
Class
a
A
77
4,632
StoneX
Group,
Inc.*
33
3,982
Value
Line,
Inc.
1
41
Victory
Capital
Holdings,
Inc.,
Class
a
A
48
3,074
Virtus
Investment
Partners,
Inc.
8
1,502
WisdomTree,
Inc.
164
1,496
57,559
Chemicals
—
0.2%
AdvanSix,
Inc.
30
838
American
Vanguard
Corp.
30
154
Arcadium
Lithium
plc*
1,275
7,446
Arq,
Inc.*
33
172
ASP
Isotopes,
Inc.*
62
295
Aspen
Aerogels,
Inc.*
73
556
Avient
Corp.
106
4,534
Balchem
Corp.
38
6,613
Cabot
Corp.
63
5,418
Core
Molding
Technologies,
Inc.*
9
124
Ecovyst,
Inc.*
137
930
Hawkins,
Inc.
23
2,415
HB
Fuller
Co.
64
3,631
Ingevity
Corp.*
43
2,049
Innospec,
Inc.
29
2,999
Intrepid
Potash,
Inc.*
13
339
Koppers
Holdings,
Inc.
23
670
Kronos
Worldwide,
Inc.
26
227
LSB
Industries,
Inc.*
63
462
Mativ
Holdings,
Inc.
64
433
Minerals
Technologies,
Inc.
37
2,543
Northern
Technologies
International
Corp.
9
102
Orion
SA
68
951
Perimeter
Solutions,
Inc.*
157
1,661
PureCycle
Technologies,
Inc.*
145
1,493
Investments
Shares
Value
Common
Stocks
(continued)
Quaker
Chemical
Corp.
16
$
2,224
Rayonier
Advanced
Materials,
Inc.*
75
577
Sensient
Technologies
Corp.
50
3,470
Stepan
Co.
25
1,544
Tronox
Holdings
plc
140
1,086
Valhi,
Inc.
3
51
56,007
Commercial
Services
&
Supplies
—
0.1%
ABM
Industries,
Inc.
74
4,020
ACCO
Brands
Corp.
110
514
ACV
Auctions,
Inc.,
Class
a
A*
174
2,794
Bridger
Aerospace
Group
Holdings,
Inc.*
12
21
BrightView
Holdings,
Inc.*
68
913
Brink's
Co.
(The)
52
4,890
Casella
Waste
Systems,
Inc.,
Class
a
A*
73
8,177
CECO
Environmental
Corp.*
34
846
Cimpress
plc*
20
962
CompX
International,
Inc.
2
48
CoreCivic,
Inc.*
128
2,401
Deluxe
Corp.
52
856
Driven
Brands
Holdings,
Inc.*
71
1,245
Ennis,
Inc.
30
636
Enviri
Corp.*
93
604
GEO
Group,
Inc.
(The)*
150
4,104
Healthcare
Services
Group,
Inc.*
87
913
HNI
Corp.
56
2,609
Interface,
Inc.,
Class
a
A
68
1,376
LanzaTech
Global,
Inc.*
132
105
Liquidity
Services,
Inc.*
25
837
Matthews
International
Corp.,
Class
a
A
35
872
MillerKnoll,
Inc.
82
1,763
Montrose
Environmental
Group,
Inc.*
37
719
NL
Industries,
Inc.
10
69
OPENLANE,
Inc.*
126
2,810
Perma-Fix
Environmental
Services,
Inc.*
17
137
Pitney
Bowes,
Inc.
191
2,069
Pursuit
Attractions
and
Hospitality,
Inc.*
24
953
Quad/Graphics,
Inc.
36
226
Quest
Resource
Holding
Corp.*
21
96
Steelcase,
Inc.,
Class
a
A
109
1,325
UniFirst
Corp.
18
3,869
Virco
Mfg.
Corp.
13
134
VSE
Corp.
21
2,489
56,402
Communications
Equipment
—
0.0%(a)
ADTRAN
Holdings,
Inc.*
93
983
Applied
Optoelectronics,
Inc.*
48
1,049
Aviat
Networks,
Inc.*
14
293
Calix,
Inc.*
70
2,591
Clearfield,
Inc.*
14
454
HEDGE
REPLICATION
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
16
HDG
::
Investments
Shares
Value
Common
Stocks
(continued)
CommScope
Holding
Co.,
Inc.*
253
$
1,607
Digi
International,
Inc.*
42
1,283
Extreme
Networks,
Inc.*
152
2,348
Harmonic,
Inc.*
130
1,340
NETGEAR,
Inc.*
33
868
NetScout
Systems,
Inc.*
81
1,822
Ribbon
Communications,
Inc.*
108
510
Viasat,
Inc.*
146
1,276
Viavi
Solutions,
Inc.*
259
2,896
19,320
Construction
&
Engineering
—
0.1%
Ameresco,
Inc.,
Class
a
A*
38
448
Arcosa,
Inc.
57
4,781
Argan,
Inc.
15
1,956
Bowman
Consulting
Group
Ltd.,
Class
a
A*
16
331
Centuri
Holdings,
Inc.*
20
347
Concrete
Pumping
Holdings,
Inc.
28
183
Construction
Partners,
Inc.,
Class
a
A*
51
3,701
Dycom
Industries,
Inc.*
33
5,407
Fluor
Corp.*
201
7,644
Granite
Construction,
Inc.
52
4,294
Great
Lakes
Dredge
&
Dock
Corp.*
78
662
IES
Holdings,
Inc.*
10
1,783
Limbach
Holdings,
Inc.*
12
996
Matrix
Service
Co.*
31
387
MYR
Group,
Inc.*
19
2,332
Northwest
Pipe
Co.*
11
485
Orion
Group
Holdings,
Inc.*
43
306
Primoris
Services
Corp.
63
4,520
Southland
Holdings,
Inc.*
12
40
Sterling
Infrastructure,
Inc.*
35
4,452
Tutor
Perini
Corp.*
51
1,499
46,554
Construction
Materials
—
0.1%
Knife
River
Corp.*
67
6,411
Smith-Midland
Corp.*
5
171
United
States
Lime
&
Minerals,
Inc.
12
1,126
7,708
Consumer
Finance
—
0.2%
Atlanticus
Holdings
Corp.*
6
330
Bread
Financial
Holdings,
Inc.
59
3,186
Consumer
Portfolio
Services,
Inc.*
10
100
Dave,
Inc.*
9
906
Encore
Capital
Group,
Inc.*
28
1,056
Enova
International,
Inc.*
30
3,100
FirstCash
Holdings,
Inc.
45
5,053
Green
Dot
Corp.,
Class
a
A*
63
482
LendingClub
Corp.*
130
1,663
LendingTree,
Inc.*
12
485
Medallion
Financial
Corp.
22
183
Moneylion,
Inc.*
10
871
Investments
Shares
Value
Common
Stocks
(continued)
Navient
Corp.
91
$
1,302
Nelnet,
Inc.,
Class
a
A
17
2,081
NerdWallet,
Inc.,
Class
a
A*
41
418
OppFi,
Inc.
22
217
PRA
Group,
Inc.*
46
963
PROG
Holdings,
Inc.
48
1,362
Regional
Management
Corp.
10
336
Upstart
Holdings,
Inc.*
92
6,134
World
Acceptance
Corp.*
4
539
30,767
Consumer
Staples
Distribution
&
Retail
—
0.1%
Andersons,
Inc.
(The)
38
1,626
Chefs'
Warehouse,
Inc.
(The)*
41
2,566
Guardian
Pharmacy
Services,
Inc.,
Class
a
A*
10
200
HF
Foods
Group,
Inc.*
47
90
Ingles
Markets,
Inc.,
Class
a
A
17
1,044
Natural
Grocers
by
Vitamin
Cottage,
Inc.
11
489
PriceSmart,
Inc.
30
2,682
SpartanNash
Co.
40
808
Sprouts
Farmers
Market,
Inc.*
119
17,660
United
Natural
Foods,
Inc.*
69
2,193
Village
Super
Market,
Inc.,
Class
a
A
10
315
Weis
Markets,
Inc.
19
1,406
31,079
Containers
&
Packaging
—
0.0%(a)
Ardagh
Metal
Packaging
SA
170
488
Greif,
Inc.,
Class
a
A
29
1,661
Greif,
Inc.,
Class
a
B
6
364
Myers
Industries,
Inc.
43
471
O-I
Glass,
Inc.*
182
2,088
Pactiv
Evergreen,
Inc.
48
857
Ranpak
Holdings
Corp.,
Class
a
A*
51
341
TriMas
Corp.
48
984
7,254
Distributors
—
0.0%(a)
A-Mark
Precious
Metals,
Inc.
21
571
GigaCloud
Technology,
Inc.,
Class
a
A*
28
474
Weyco
Group,
Inc.
7
243
1,288
Diversified
Consumer
Services
—
0.1%
Adtalem
Global
Education,
Inc.*
44
4,502
American
Public
Education,
Inc.*
18
381
Carriage
Services,
Inc.,
Class
a
A
16
642
Chegg,
Inc.*
119
130
Coursera,
Inc.*
162
1,283
European
Wax
Center,
Inc.,
Class
a
A*
39
254
Frontdoor,
Inc.*
91
4,139
Graham
Holdings
Co.,
Class
a
B
4
3,935
KinderCare
Learning
Cos.,
Inc.*
33
642
FEBRUARY
28,
2025
(Unaudited)
::
HEDGE
REPLICATION
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
17
HDG
::
Investments
Shares
Value
Common
Stocks
(continued)
Laureate
Education,
Inc.*
153
$
3,051
Lincoln
Educational
Services
Corp.*
31
569
Mister
Car
Wash,
Inc.*
112
951
Nerdy,
Inc.*
89
135
OneSpaWorld
Holdings
Ltd.
118
2,251
Perdoceo
Education
Corp.
77
1,971
Strategic
Education,
Inc.
26
2,094
Stride,
Inc.*
50
6,840
Udemy,
Inc.*
107
1,031
Universal
Technical
Institute,
Inc.*
46
1,299
36,100
Diversified
REITs
—
0.1%
Alexander
&
Baldwin,
Inc.,
REIT
86
1,557
Alpine
Income
Property
Trust,
Inc.,
REIT
15
249
American
Assets
Trust,
Inc.,
REIT
56
1,258
Armada
Hoffler
Properties,
Inc.,
REIT
93
854
Broadstone
Net
Lease,
Inc.,
REIT
222
3,741
CTO
Realty
Growth,
Inc.,
REIT
34
647
Empire
State
Realty
Trust,
Inc.,
Class
a
A,
REIT
160
1,483
Essential
Properties
Realty
Trust,
Inc.,
REIT
206
6,740
Gladstone
Commercial
Corp.,
REIT
50
811
Global
Net
Lease,
Inc.,
REIT
236
1,888
NexPoint
Diversified
Real
Estate
Trust,
REIT
39
193
One
Liberty
Properties,
Inc.,
REIT
19
505
19,926
Diversified
Telecommunication
Services
—
0.2%
Anterix,
Inc.*
12
468
AST
SpaceMobile,
Inc.,
Class
a
A*
158
4,283
ATN
International,
Inc.
12
207
Bandwidth,
Inc.,
Class
a
A*
29
463
Cogent
Communications
Holdings,
Inc.
52
3,800
Globalstar,
Inc.*
57
1,231
IDT
Corp.,
Class
a
B
18
874
Liberty
Latin
America
Ltd.,
Class
a
A*
37
250
Liberty
Latin
America
Ltd.,
Class
a
C*
153
1,027
Lumen
Technologies,
Inc.*
1,191
5,622
Shenandoah
Telecommunications
Co.
57
616
18,841
Electric
Utilities
—
0.1%
ALLETE,
Inc.
68
4,467
Genie
Energy
Ltd.,
Class
a
B
15
214
Investments
Shares
Value
Common
Stocks
(continued)
Hawaiian
Electric
Industries,
Inc.*
195
$
2,135
MGE
Energy,
Inc.
43
3,946
Otter
Tail
Corp.
49
3,907
Portland
General
Electric
Co.
122
5,469
TXNM
Energy,
Inc.
106
5,538
25,676
Electrical
Equipment
—
0.2%
Allient,
Inc.
17
423
American
Superconductor
Corp.*
41
931
Amprius
Technologies,
Inc.*
18
46
Array
Technologies,
Inc.*
180
950
Atkore,
Inc.
42
2,583
Blink
Charging
Co.*
113
115
Bloom
Energy
Corp.,
Class
a
A*
237
5,693
ChargePoint
Holdings,
Inc.*
466
310
Energy
Vault
Holdings,
Inc.*
123
167
EnerSys
47
4,770
Enovix
Corp.*
194
1,730
Fluence
Energy,
Inc.*
73
418
Freyr
Battery,
Inc.*
132
202
FuelCell
Energy,
Inc.*
23
133
GrafTech
International
Ltd.*
305
357
LSI
Industries,
Inc.
34
629
NANO
Nuclear
Energy,
Inc.*
5
144
Net
Power,
Inc.*
25
181
NEXTracker,
Inc.,
Class
a
A*
170
7,483
NuScale
Power
Corp.,
Class
a
A*
100
1,719
Plug
Power,
Inc.*
938
1,510
Powell
Industries,
Inc.
11
1,867
Preformed
Line
Products
Co.
3
391
SES
AI
Corp.*
153
101
Shoals
Technologies
Group,
Inc.,
Class
a
A*
197
597
SolarMax
Technology,
Inc.*
35
41
Solidion
Technology,
Inc.*
59
20
Stem,
Inc.*
179
77
Sunrun,
Inc.*
257
1,863
Thermon
Group
Holdings,
Inc.*
39
1,150
TPI
Composites,
Inc.*
54
61
Ultralife
Corp.*
12
75
Vicor
Corp.*
27
1,710
38,447
Electronic
Equipment,
Instruments
&
Components
—
0.4%
908
Devices,
Inc.*
28
63
Advanced
Energy
Industries,
Inc.
44
5,067
Aeva
Technologies,
Inc.*
27
97
Arlo
Technologies,
Inc.*
115
1,654
Badger
Meter,
Inc.
35
7,362
Bel
Fuse,
Inc.,
Class
a
A
2
163
Bel
Fuse,
Inc.,
Class
a
B
12
1,007
Belden,
Inc.
48
5,281
Benchmark
Electronics,
Inc.
42
1,678
Climb
Global
Solutions,
Inc.
5
613
CTS
Corp.
35
1,563
Daktronics,
Inc.*
47
717
HEDGE
REPLICATION
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
18
HDG
::
Investments
Shares
Value
Common
Stocks
(continued)
ePlus,
Inc.*
31
$
1,996
Evolv
Technologies
Holdings,
Inc.*
156
552
Fabrinet*
43
8,602
FARO
Technologies,
Inc.*
23
735
Insight
Enterprises,
Inc.*
32
4,924
Itron,
Inc.*
53
5,771
Kimball
Electronics,
Inc.*
29
523
Knowles
Corp.*
102
1,692
Lightwave
Logic,
Inc.*
141
171
Methode
Electronics,
Inc.
41
447
MicroVision,
Inc.*
248
360
Mirion
Technologies,
Inc.,
Class
a
A*
243
3,774
Napco
Security
Technologies,
Inc.
41
1,007
nLight,
Inc.*
55
504
Novanta,
Inc.*
42
6,075
OSI
Systems,
Inc.*
19
3,918
Ouster,
Inc.*
55
454
PAR
Technology
Corp.*
40
2,748
PC
Connection,
Inc.
14
893
Plexus
Corp.*
32
4,253
Powerfleet,
Inc.*
111
783
Richardson
Electronics
Ltd.
14
185
Rogers
Corp.*
22
1,759
Sanmina
Corp.*
63
5,161
ScanSource,
Inc.*
28
1,025
SmartRent,
Inc.,
Class
a
A*
225
279
TTM
Technologies,
Inc.*
119
2,869
Vishay
Intertechnology,
Inc.
149
2,554
Vishay
Precision
Group,
Inc.*
14
330
89,609
Energy
Equipment
&
Services
—
0.2%
Archrock,
Inc.
196
5,316
Aris
Water
Solutions,
Inc.,
Class
a
A
32
1,007
Atlas
Energy
Solutions,
Inc.,
Class
a
A
80
1,550
Borr
Drilling
Ltd.
279
709
Bristow
Group,
Inc.,
Class
a
A*
29
1,074
Cactus,
Inc.,
Class
a
A
78
4,098
ChampionX
Corp.
225
6,705
Core
Laboratories,
Inc.
55
805
DMC
Global,
Inc.*
23
195
Drilling
Tools
International
Corp.*
14
45
Expro
Group
Holdings
NV*
111
1,320
Forum
Energy
Technologies,
Inc.*
14
261
Geospace
Technologies
Corp.*
14
113
Helix
Energy
Solutions
Group,
Inc.*
170
1,465
Helmerich
&
Payne,
Inc.
114
3,022
Innovex
International,
Inc.*
40
732
Kodiak
Gas
Services,
Inc.
38
1,634
Liberty
Energy,
Inc.,
Class
a
A
186
3,212
Mammoth
Energy
Services,
Inc.*
29
71
Nabors
Industries
Ltd.*
11
442
Investments
Shares
Value
Common
Stocks
(continued)
Natural
Gas
Services
Group,
Inc.*
13
$
334
Noble
Corp.
plc
162
4,196
NPK
International,
Inc.*
99
604
Oceaneering
International,
Inc.*
119
2,629
Oil
States
International,
Inc.*
71
386
Patterson-UTI
Energy,
Inc.
458
3,806
ProFrac
Holding
Corp.,
Class
a
A*
26
187
ProPetro
Holding
Corp.*
102
861
Ranger
Energy
Services,
Inc.,
Class
a
A
18
301
RPC,
Inc.
100
558
SEACOR
Marine
Holdings,
Inc.*
29
168
Seadrill
Ltd.*
82
2,089
Select
Water
Solutions,
Inc.,
Class
a
A
107
1,298
Solaris
Energy
Infrastructure,
Inc.,
Class
a
A
30
1,024
TETRA
Technologies,
Inc.*
148
561
Tidewater,
Inc.*
57
2,600
Transocean
Ltd.*
858
2,531
Valaris
Ltd.*
73
2,606
60,515
Entertainment
—
0.0%(a)
AMC
Entertainment
Holdings,
Inc.,
Class
a
A*
411
1,356
Atlanta
Braves
Holdings,
Inc.,
Class
a
A*
12
530
Atlanta
Braves
Holdings,
Inc.,
Class
a
C*
59
2,382
Cinemark
Holdings,
Inc.*
130
3,329
Eventbrite,
Inc.,
Class
a
A*
94
229
Golden
Matrix
Group,
Inc.*
24
50
IMAX
Corp.*
50
1,280
Lions
Gate
Entertainment
Corp.,
Class
a
A*
70
698
Lions
Gate
Entertainment
Corp.,
Class
a
B*
146
1,286
LiveOne,
Inc.*
88
68
Madison
Square
Garden
Entertainment
Corp.,
Class
a
A*
47
1,623
Marcus
Corp.
(The)
27
495
Playstudios,
Inc.*
104
169
Reservoir
Media,
Inc.*
23
180
Sphere
Entertainment
Co.*
32
1,396
Vivid
Seats,
Inc.,
Class
a
A*
91
377
15,448
Financial
Services
—
0.4%
Acacia
Research
Corp.*
44
185
Alerus
Financial
Corp.
26
530
AvidXchange
Holdings,
Inc.*
205
1,558
Banco
Latinoamericano
de
Comercio
Exterior
SA,
Class
a
E
32
1,356
Burford
Capital
Ltd.
236
3,682
Cannae
Holdings,
Inc.
66
1,323
Cantaloupe,
Inc.*
69
678
Cass
Information
Systems,
Inc.
16
699
FEBRUARY
28,
2025
(Unaudited)
::
HEDGE
REPLICATION
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
19
HDG
::
Investments
Shares
Value
Common
Stocks
(continued)
Compass
Diversified
Holdings
78
$
1,707
Enact
Holdings,
Inc.
34
1,169
Essent
Group
Ltd.
123
7,087
EVERTEC,
Inc.
76
2,838
Federal
Agricultural
Mortgage
Corp.,
Class
a
C
11
2,300
Flywire
Corp.*
142
1,619
HA
Sustainable
Infrastructure
Capital,
Inc.
136
3,907
International
Money
Express,
Inc.*
37
567
Jackson
Financial,
Inc.,
Class
a
A
88
8,063
Marqeta,
Inc.,
Class
a
A*
558
2,332
Merchants
Bancorp
21
855
Mr
Cooper
Group,
Inc.*
74
8,315
NCR
Atleos
Corp.*
85
2,417
NewtekOne,
Inc.
29
377
NMI
Holdings,
Inc.,
Class
a
A*
92
3,352
Onity
Group,
Inc.*
8
259
Pagseguro
Digital
Ltd.,
Class
a
A*
222
1,634
Payoneer
Global,
Inc.*
341
2,916
Paysafe
Ltd.*
38
752
Paysign,
Inc.*
39
103
PennyMac
Financial
Services,
Inc.
31
3,213
Priority
Technology
Holdings,
Inc.*
22
236
Radian
Group,
Inc.
178
5,858
Remitly
Global,
Inc.*
176
4,224
Repay
Holdings
Corp.,
Class
a
A*
102
735
Sezzle,
Inc.*
3
897
StoneCo
Ltd.,
Class
a
A*
337
3,117
SWK
Holdings
Corp.*
4
68
Velocity
Financial,
Inc.*
11
207
Walker
&
Dunlop,
Inc.
38
3,255
Waterstone
Financial,
Inc.
19
267
84,657
Food
Products
—
0.2%
Alico,
Inc.
8
235
B&G
Foods,
Inc.
91
608
Beyond
Meat,
Inc.*
70
221
BRC,
Inc.,
Class
a
A*
62
160
Calavo
Growers,
Inc.
20
458
Cal-Maine
Foods,
Inc.
48
4,339
Dole
plc
88
1,287
Forafric
Global
plc*
6
54
Fresh
Del
Monte
Produce,
Inc.
40
1,220
Hain
Celestial
Group,
Inc.
(The)*
106
379
J
&
J
Snack
Foods
Corp.
18
2,366
John
B
Sanfilippo
&
Son,
Inc.
11
777
Lancaster
Colony
Corp.
23
4,397
Lifeway
Foods,
Inc.*
5
106
Limoneira
Co.
19
419
Mama's
Creations,
Inc.*
39
238
Mission
Produce,
Inc.*
51
630
Seneca
Foods
Corp.,
Class
a
A*
6
487
Simply
Good
Foods
Co.
(The)*
107
4,039
SunOpta,
Inc.*
111
696
TreeHouse
Foods,
Inc.*
56
1,763
Investments
Shares
Value
Common
Stocks
(continued)
Utz
Brands,
Inc.
78
$
1,062
Vital
Farms,
Inc.*
39
1,291
Westrock
Coffee
Co.*
40
255
WK
Kellogg
Co.
77
1,526
29,013
Gas
Utilities
—
0.2%
Brookfield
Infrastructure
Corp.,
Class
a
A
141
5,646
Chesapeake
Utilities
Corp.
26
3,300
New
Jersey
Resources
Corp.
116
5,612
Northwest
Natural
Holding
Co.
45
1,840
ONE
Gas,
Inc.
66
4,960
RGC
Resources,
Inc.
10
203
Southwest
Gas
Holdings,
Inc.
72
5,404
Spire,
Inc.
67
5,150
32,115
Ground
Transportation
—
0.0%(a)
ArcBest
Corp.
28
2,206
Covenant
Logistics
Group,
Inc.,
Class
a
A
19
478
FTAI
Infrastructure,
Inc.
119
695
Heartland
Express,
Inc.
55
568
Hertz
Global
Holdings,
Inc.*
144
600
Marten
Transport
Ltd.
68
1,001
PAMT
Corp.*
7
91
Proficient
Auto
Logistics,
Inc.*
18
188
RXO,
Inc.*
188
3,848
Universal
Logistics
Holdings,
Inc.
8
218
Werner
Enterprises,
Inc.
73
2,377
12,270
Health
Care
Equipment
&
Supplies
—
0.3%
Accuray,
Inc.*
114
229
Alphatec
Holdings,
Inc.*
123
1,541
AngioDynamics,
Inc.*
46
427
Artivion,
Inc.*
47
1,194
AtriCure,
Inc.*
56
2,169
Avanos
Medical,
Inc.*
53
798
Axogen,
Inc.*
50
1,001
Bioventus,
Inc.,
Class
a
A*
45
456
Ceribell,
Inc.*
14
325
Cerus
Corp.*
212
350
CONMED
Corp.
36
2,130
CVRx,
Inc.*
16
207
Embecta
Corp.
68
918
Fractyl
Health,
Inc.*
40
62
Glaukos
Corp.*
58
6,961
Haemonetics
Corp.*
59
3,864
ICU
Medical,
Inc.*
25
3,658
Inmode
Ltd.*
85
1,591
Inogen,
Inc.*
28
233
Integer
Holdings
Corp.*
39
4,805
Integra
LifeSciences
Holdings
Corp.*
80
1,857
iRadimed
Corp.
9
485
iRhythm
Technologies,
Inc.*
37
4,076
Lantheus
Holdings,
Inc.*
81
7,599
HEDGE
REPLICATION
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
20
HDG
::
Investments
Shares
Value
Common
Stocks
(continued)
LeMaitre
Vascular,
Inc.
24
$
2,204
LivaNova
plc*
64
2,664
Merit
Medical
Systems,
Inc.*
67
6,837
Neogen
Corp.*
257
2,583
NeuroPace,
Inc.*
16
207
Nevro
Corp.*
43
246
Novocure
Ltd.*
125
2,384
Omnicell,
Inc.*
54
2,055
OraSure
Technologies,
Inc.*
85
296
Orchestra
BioMed
Holdings,
Inc.*
29
136
Orthofix
Medical,
Inc.*
40
695
OrthoPediatrics
Corp.*
20
464
Paragon
28,
Inc.*
55
717
PROCEPT
BioRobotics
Corp.*
52
3,346
Pulmonx
Corp.*
45
388
Pulse
Biosciences,
Inc.*
22
403
RxSight,
Inc.*
43
1,219
Sanara
Medtech,
Inc.*
5
173
Semler
Scientific,
Inc.*
6
258
SI-BONE,
Inc.*
48
870
Sight
Sciences,
Inc.*
42
111
STAAR
Surgical
Co.*
58
1,015
Stereotaxis,
Inc.*
66
136
Surmodics,
Inc.*
16
526
Tactile
Systems
Technology,
Inc.*
28
400
Tandem
Diabetes
Care,
Inc.*
77
1,705
TransMedics
Group,
Inc.*
39
2,976
Treace
Medical
Concepts,
Inc.*
57
510
UFP
Technologies,
Inc.*
9
2,048
Utah
Medical
Products,
Inc.
4
238
Varex
Imaging
Corp.*
46
592
Zimvie,
Inc.*
32
425
Zynex,
Inc.*
18
130
85,893
Health
Care
Providers
&
Services
—
0.5%
Accolade,
Inc.*
86
599
AdaptHealth
Corp.,
Class
a
A*
120
1,366
Addus
HomeCare
Corp.*
21
2,011
agilon
health,
Inc.*
363
1,133
AirSculpt
Technologies,
Inc.*
16
73
Alignment
Healthcare,
Inc.*
118
1,851
AMN
Healthcare
Services,
Inc.*
45
1,139
Ardent
Health
Partners,
Inc.*
14
205
Astrana
Health,
Inc.*
51
1,294
Aveanna
Healthcare
Holdings,
Inc.*
62
264
BrightSpring
Health
Services,
Inc.*
63
1,215
Brookdale
Senior
Living,
Inc.*
225
1,282
Castle
Biosciences,
Inc.*
30
650
Community
Health
Systems,
Inc.*
148
445
Concentra
Group
Holdings
Parent,
Inc.
130
2,935
CorVel
Corp.*
31
3,418
Cross
Country
Healthcare,
Inc.*
38
652
DocGo,
Inc.*
120
371
Investments
Shares
Value
Common
Stocks
(continued)
Enhabit,
Inc.*
59
$
494
Ensign
Group,
Inc.
(The)
65
8,395
Fulgent
Genetics,
Inc.*
24
371
GeneDx
Holdings
Corp.,
Class
a
A*
15
1,543
Guardant
Health,
Inc.*
139
5,914
HealthEquity,
Inc.*
101
11,086
Hims
&
Hers
Health,
Inc.*
223
10,055
InfuSystem
Holdings,
Inc.*
23
184
Innovage
Holding
Corp.*
22
72
Joint
Corp.
(The)*
13
148
LifeStance
Health
Group,
Inc.*
164
1,278
ModivCare,
Inc.*
13
43
Nano-X
Imaging
Ltd.*
65
402
National
HealthCare
Corp.
15
1,398
National
Research
Corp.
18
263
NeoGenomics,
Inc.*
150
1,499
OPKO
Health,
Inc.*
383
666
Option
Care
Health,
Inc.*
202
6,767
Owens
&
Minor,
Inc.*
89
853
PACS
Group,
Inc.*
45
586
Patterson
Cos.,
Inc.
93
2,896
Pediatrix
Medical
Group,
Inc.*
101
1,492
Pennant
Group,
Inc.
(The)*
38
865
Performant
Healthcare,
Inc.*
83
238
Privia
Health
Group,
Inc.*
120
2,996
Progyny,
Inc.*
93
2,095
Quipt
Home
Medical
Corp.*
49
129
RadNet,
Inc.*
78
4,327
Select
Medical
Holdings
Corp.
128
2,328
Sonida
Senior
Living,
Inc.*
6
146
Surgery
Partners,
Inc.*
90
2,167
Talkspace,
Inc.*
145
415
US
Physical
Therapy,
Inc.
18
1,458
Viemed
Healthcare,
Inc.*
40
314
94,786
Health
Care
REITs
—
0.1%
American
Healthcare
REIT,
Inc.
179
5,332
CareTrust
REIT,
Inc.
219
5,666
Community
Healthcare
Trust,
Inc.,
REIT
32
600
Diversified
Healthcare
Trust,
REIT
257
727
Global
Medical
REIT,
Inc.
72
634
LTC
Properties,
Inc.,
REIT
53
1,849
National
Health
Investors,
Inc.,
REIT
49
3,512
Sabra
Health
Care
REIT,
Inc.
278
4,618
Strawberry
Fields
REIT,
Inc.
7
82
Universal
Health
Realty
Income
Trust,
REIT
15
599
23,619
Health
Care
Technology
—
0.0%(a)
Definitive
Healthcare
Corp.,
Class
a
A*
63
203
Evolent
Health,
Inc.,
Class
a
A*
136
1,223
Health
Catalyst,
Inc.*
70
327
HealthStream,
Inc.
29
979
FEBRUARY
28,
2025
(Unaudited)
::
HEDGE
REPLICATION
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
21
HDG
::
Investments
Shares
Value
Common
Stocks
(continued)
LifeMD,
Inc.*
43
$
226
OptimizeRx
Corp.*
21
109
Phreesia,
Inc.*
65
1,725
Schrodinger,
Inc.*
65
1,450
Simulations
Plus,
Inc.
19
551
Teladoc
Health,
Inc.*
203
1,941
Waystar
Holding
Corp.*
74
3,217
11,951
Hotel
&
Resort
REITs
—
0.1%
Apple
Hospitality
REIT,
Inc.
268
3,969
Braemar
Hotels
&
Resorts,
Inc.,
REIT
78
224
Chatham
Lodging
Trust,
REIT
57
461
DiamondRock
Hospitality
Co.,
REIT
243
2,000
Pebblebrook
Hotel
Trust,
REIT
141
1,741
RLJ
Lodging
Trust,
REIT
179
1,658
Ryman
Hospitality
Properties,
Inc.,
REIT
69
6,823
Service
Properties
Trust,
REIT
194
578
Summit
Hotel
Properties,
Inc.,
REIT
124
802
Sunstone
Hotel
Investors,
Inc.,
REIT
239
2,505
Xenia
Hotels
&
Resorts,
Inc.,
REIT
120
1,613
22,374
Hotels,
Restaurants
&
Leisure
—
0.2%
Accel
Entertainment,
Inc.,
Class
a
A*
61
657
Biglari
Holdings,
Inc.,
Class
a
B*
1
245
BJ's
Restaurants,
Inc.*
22
839
Bloomin'
Brands,
Inc.
91
854
Brinker
International,
Inc.*
52
8,571
Cheesecake
Factory,
Inc.
(The)
57
3,080
Cracker
Barrel
Old
Country
Store,
Inc.
26
1,178
Dave
&
Buster's
Entertainment,
Inc.*
38
794
Denny's
Corp.*
59
293
Despegar.com
Corp.*
72
1,384
Dine
Brands
Global,
Inc.
18
451
El
Pollo
Loco
Holdings,
Inc.*
30
338
Everi
Holdings,
Inc.*
95
1,308
First
Watch
Restaurant
Group,
Inc.*
36
768
Full
House
Resorts,
Inc.*
39
188
Global
Business
Travel
Group
I*
148
1,230
Golden
Entertainment,
Inc.
23
715
Hilton
Grand
Vacations,
Inc.*
84
3,604
Inspired
Entertainment,
Inc.*
26
280
International
Game
Technology
plc
134
2,376
Jack
in
the
Box,
Inc.
23
884
Krispy
Kreme,
Inc.
101
627
Kura
Sushi
USA,
Inc.,
Class
a
A*
7
435
Life
Time
Group
Holdings,
Inc.*
73
2,224
Lindblad
Expeditions
Holdings,
Inc.*
42
469
Investments
Shares
Value
Common
Stocks
(continued)
Monarch
Casino
&
Resort,
Inc.
15
$
1,374
Nathan's
Famous,
Inc.
3
306
ONE
Group
Hospitality,
Inc.
(The)*
25
81
Papa
John's
International,
Inc.
39
1,769
PlayAGS,
Inc.*
46
558
Portillo's,
Inc.,
Class
a
A*
64
894
Potbelly
Corp.*
32
408
RCI
Hospitality
Holdings,
Inc.
10
498
Red
Rock
Resorts,
Inc.,
Class
a
A
58
2,898
Rush
Street
Interactive,
Inc.*
89
1,038
Sabre
Corp.*
450
1,858
Shake
Shack,
Inc.,
Class
a
A*
45
4,887
Six
Flags
Entertainment
Corp.
109
4,793
Super
Group
SGHC
Ltd.
176
1,322
Sweetgreen,
Inc.,
Class
a
A*
118
2,686
Target
Hospitality
Corp.*
39
219
United
Parks
&
Resorts,
Inc.*
38
1,919
Vacasa,
Inc.,
Class
a
A*
11
56
Xponential
Fitness,
Inc.,
Class
a
A*
29
383
61,739
Household
Durables
—
0.4%
Beazer
Homes
USA,
Inc.*
34
758
Cavco
Industries,
Inc.*
10
5,245
Century
Communities,
Inc.
33
2,291
Champion
Homes,
Inc.*
63
6,457
Cricut,
Inc.,
Class
a
A
55
297
Dream
Finders
Homes,
Inc.,
Class
a
A*
33
789
Ethan
Allen
Interiors,
Inc.
27
769
Flexsteel
Industries,
Inc.
5
225
GoPro,
Inc.,
Class
a
A*
147
110
Green
Brick
Partners,
Inc.*
37
2,210
Hamilton
Beach
Brands
Holding
Co.,
Class
a
A
10
195
Helen
of
Troy
Ltd.*
27
1,486
Hooker
Furnishings
Corp.
12
157
Hovnanian
Enterprises,
Inc.,
Class
a
A*
6
610
Installed
Building
Products,
Inc.
28
4,799
iRobot
Corp.*
35
254
KB
Home
77
4,697
Landsea
Homes
Corp.*
21
150
La-Z-Boy,
Inc.
50
2,262
Legacy
Housing
Corp.*
13
321
LGI
Homes,
Inc.*
25
1,836
Lifetime
Brands,
Inc.
15
75
Lovesac
Co.
(The)*
17
356
M/I
Homes,
Inc.*
31
3,631
Meritage
Homes
Corp.
85
6,160
Purple
Innovation,
Inc.,
Class
a
A*
67
57
Sonos,
Inc.*
142
1,877
Taylor
Morrison
Home
Corp.,
Class
a
A*
120
7,397
Traeger,
Inc.*
41
95
Tri
Pointe
Homes,
Inc.*
109
3,451
United
Homes
Group,
Inc.*
6
22
59,039
HEDGE
REPLICATION
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
22
HDG
::
Investments
Shares
Value
Common
Stocks
(continued)
Household
Products
—
0.0%(a)
Central
Garden
&
Pet
Co.*
11
$
388
Central
Garden
&
Pet
Co.,
Class
a
A*
61
1,920
Energizer
Holdings,
Inc.
85
2,612
Oil-Dri
Corp.
of
America
12
529
WD-40
Co.
16
3,818
9,267
Independent
Power
and
Renewable
Electricity
Producers
—
0.0%(a)
Altus
Power,
Inc.,
Class
a
A*
89
439
Montauk
Renewables,
Inc.*
78
268
Ormat
Technologies,
Inc.
68
4,749
Sunnova
Energy
International,
Inc.*
128
212
5,668
Industrial
Conglomerates
—
0.0%(a)
Brookfield
Business
Corp.,
Class
a
A
31
855
Industrial
REITs
—
0.1%
Industrial
Logistics
Properties
Trust,
REIT
77
303
Innovative
Industrial
Properties,
Inc.,
REIT
33
2,374
LXP
Industrial
Trust,
REIT
342
3,064
Plymouth
Industrial
REIT,
Inc.
47
815
Terreno
Realty
Corp.,
REIT
112
7,596
14,152
Insurance
—
0.3%
Ambac
Financial
Group,
Inc.*
54
524
American
Coastal
Insurance
Corp.
28
340
AMERISAFE,
Inc.
22
1,132
Baldwin
Insurance
Group,
Inc.
(The),
Class
a
A*
78
3,209
Bowhead
Specialty
Holdings,
Inc.*
14
471
CNO
Financial
Group,
Inc.
124
5,170
Crawford
&
Co.,
Class
a
A
18
221
Donegal
Group,
Inc.,
Class
a
A
18
315
Employers
Holdings,
Inc.
29
1,502
Enstar
Group
Ltd.*
15
4,992
F&G
Annuities
&
Life,
Inc.
22
937
Fidelis
Insurance
Holdings
Ltd.
60
883
Genworth
Financial,
Inc.,
Class
a
A*
507
3,524
GoHealth,
Inc.,
Class
a
A*
5
72
Goosehead
Insurance,
Inc.,
Class
a
A
26
3,203
Greenlight
Capital
Re
Ltd.,
Class
a
A*
32
446
Hamilton
Insurance
Group
Ltd.,
Class
a
B*
47
919
HCI
Group,
Inc.
10
1,317
Heritage
Insurance
Holdings,
Inc.*
27
317
Investments
Shares
Value
Common
Stocks
(continued)
Hippo
Holdings,
Inc.*
24
$
690
Horace
Mann
Educators
Corp.
48
2,032
Investors
Title
Co.
2
475
James
River
Group
Holdings
Ltd.
44
218
Kingsway
Financial
Services,
Inc.*
15
117
Lemonade,
Inc.*
61
2,217
Maiden
Holdings
Ltd.*
104
100
MBIA,
Inc.*
53
322
Mercury
General
Corp.
32
1,726
NI
Holdings,
Inc.*
9
128
Oscar
Health,
Inc.,
Class
a
A*
234
3,419
Palomar
Holdings,
Inc.*
30
3,860
ProAssurance
Corp.*
60
938
Root,
Inc.,
Class
a
A*
10
1,352
Safety
Insurance
Group,
Inc.
17
1,294
Selective
Insurance
Group,
Inc.
72
6,195
Selectquote,
Inc.*
160
730
SiriusPoint
Ltd.*
111
1,703
Skyward
Specialty
Insurance
Group,
Inc.*
44
2,289
Stewart
Information
Services
Corp.
32
2,278
Tiptree,
Inc.,
Class
a
A
30
679
Trupanion,
Inc.*
39
1,347
United
Fire
Group,
Inc.
25
702
Universal
Insurance
Holdings,
Inc.
28
621
64,926
Interactive
Media
&
Services
—
0.0%(a)
Bumble,
Inc.,
Class
a
A*
113
588
Cargurus,
Inc.,
Class
a
A*
102
3,283
Cars.com,
Inc.*
78
1,030
EverQuote,
Inc.,
Class
a
A*
30
806
fuboTV,
Inc.*
380
1,151
Getty
Images
Holdings,
Inc.*
118
252
Grindr,
Inc.*
29
532
MediaAlpha,
Inc.,
Class
a
A*
35
325
Nextdoor
Holdings,
Inc.*
203
359
Outbrain,
Inc.*
46
228
QuinStreet,
Inc.*
63
1,234
Shutterstock,
Inc.
29
623
System1,
Inc.*
28
15
TrueCar,
Inc.*
101
235
Vimeo,
Inc.*
171
1,007
Webtoon
Entertainment,
Inc.*
18
163
Yelp,
Inc.,
Class
a
A*
76
2,608
Ziff
Davis,
Inc.*
52
2,135
ZipRecruiter,
Inc.,
Class
a
A*
84
470
17,044
IT
Services
—
0.0%(a)
Applied
Digital
Corp.*
226
1,808
ASGN,
Inc.*
51
3,436
Backblaze,
Inc.,
Class
a
A*
47
307
BigBear.ai
Holdings,
Inc.*
122
629
BigCommerce
Holdings,
Inc.,
Series
1*
84
595
FEBRUARY
28,
2025
(Unaudited)
::
HEDGE
REPLICATION
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
23
HDG
::
Investments
Shares
Value
Common
Stocks
(continued)
Couchbase,
Inc.*
47
$
830
DigitalOcean
Holdings,
Inc.*
77
3,299
Fastly,
Inc.,
Class
a
A*
154
1,049
Grid
Dynamics
Holdings,
Inc.*
67
1,261
Hackett
Group,
Inc.
(The)
30
911
Information
Services
Group,
Inc.
42
131
Rackspace
Technology,
Inc.*
80
190
Tucows,
Inc.,
Class
a
A*
9
179
Unisys
Corp.*
77
332
14,957
Leisure
Products
—
0.0%(a)
Acushnet
Holdings
Corp.
33
2,122
AMMO,
Inc.*
106
170
Clarus
Corp.
36
166
Escalade,
Inc.
12
183
Funko,
Inc.,
Class
a
A*
37
456
JAKKS
Pacific,
Inc.*
10
271
Johnson
Outdoors,
Inc.,
Class
a
A
6
161
Latham
Group,
Inc.*
48
284
Malibu
Boats,
Inc.,
Class
a
A*
23
768
Marine
Products
Corp.
10
86
MasterCraft
Boat
Holdings,
Inc.*
19
334
Peloton
Interactive,
Inc.,
Class
a
A*
414
3,117
Smith
&
Wesson
Brands,
Inc.
53
576
Solo
Brands,
Inc.,
Class
a
A*
33
25
Sturm
Ruger
&
Co.,
Inc.
19
750
Topgolf
Callaway
Brands
Corp.*
167
1,091
10,560
Life
Sciences
Tools
&
Services
—
0.0%(a)
Adaptive
Biotechnologies
Corp.*
136
1,123
Akoya
Biosciences,
Inc.*
31
51
BioLife
Solutions,
Inc.*
42
1,008
ChromaDex
Corp.*
58
327
Codexis,
Inc.*
95
289
Conduit
Pharmaceuticals,
Inc.*
1
1
CryoPort,
Inc.*
51
284
Cytek
Biosciences,
Inc.*
143
642
Harvard
Bioscience,
Inc.*
48
40
Lifecore
Biomedical,
Inc.*
27
158
Maravai
LifeSciences
Holdings,
Inc.,
Class
a
A*
130
419
MaxCyte,
Inc.*
123
411
Mesa
Laboratories,
Inc.
6
836
Nautilus
Biotechnology,
Inc.,
Class
a
A*
57
74
OmniAb,
Inc.*
109
379
Pacific
Biosciences
of
California,
Inc.*
322
467
Quanterix
Corp.*
42
319
Quantum-Si,
Inc.*
118
163
Standard
BioTools,
Inc.*
347
370
7,361
Investments
Shares
Value
Common
Stocks
(continued)
Machinery
—
0.7%
374Water,
Inc.*
77
$
26
3D
Systems
Corp.*
150
509
Alamo
Group,
Inc.
12
2,100
Albany
International
Corp.,
Class
a
A
37
2,833
Astec
Industries,
Inc.
27
961
Atmus
Filtration
Technologies,
Inc.
99
3,940
Blue
Bird
Corp.*
38
1,335
Chart
Industries,
Inc.*
51
9,718
Columbus
McKinnon
Corp.
33
575
Commercial
Vehicle
Group,
Inc.*
39
81
Douglas
Dynamics,
Inc.
27
730
Eastern
Co.
(The)
6
169
Energy
Recovery,
Inc.*
67
1,002
Enerpac
Tool
Group
Corp.,
Class
a
A
64
2,961
Enpro,
Inc.
25
4,552
ESCO
Technologies,
Inc.
30
4,946
Federal
Signal
Corp.
71
5,771
Franklin
Electric
Co.,
Inc.
53
5,414
Gencor
Industries,
Inc.*
12
156
Gorman-Rupp
Co.
(The)
25
953
Graham
Corp.*
12
406
Greenbrier
Cos.,
Inc.
(The)
36
2,023
Helios
Technologies,
Inc.
39
1,539
Hillenbrand,
Inc.
83
2,482
Hillman
Solutions
Corp.*
231
2,255
Hyliion
Holdings
Corp.*
164
277
Hyster-Yale,
Inc.
13
661
JBT
Marel
Corp.
55
7,260
Kadant,
Inc.
14
5,243
Kennametal,
Inc.
92
2,036
L
B
Foster
Co.,
Class
a
A*
11
302
Lindsay
Corp.
13
1,718
Luxfer
Holdings
plc
31
378
Manitowoc
Co.,
Inc.
(The)*
41
424
Mayville
Engineering
Co.,
Inc.*
15
224
Miller
Industries,
Inc.
13
753
Mueller
Industries,
Inc.
132
10,584
Mueller
Water
Products,
Inc.,
Class
a
A
183
4,714
NN,
Inc.*
55
168
Omega
Flex,
Inc.
4
142
Park-Ohio
Holdings
Corp.
11
266
Proto
Labs,
Inc.*
30
1,196
REV
Group,
Inc.
60
1,830
Shyft
Group,
Inc.
(The)
40
401
SPX
Technologies,
Inc.*
53
7,719
Standex
International
Corp.
14
2,604
Taylor
Devices,
Inc.*
3
101
Tennant
Co.
22
1,904
Terex
Corp.
78
3,175
Titan
International,
Inc.*
59
503
Trinity
Industries,
Inc.
96
2,985
Twin
Disc,
Inc.
13
112
Wabash
National
Corp.
51
597
HEDGE
REPLICATION
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
24
HDG
::
Investments
Shares
Value
Common
Stocks
(continued)
Watts
Water
Technologies,
Inc.,
Class
a
A
32
$
6,867
Worthington
Enterprises,
Inc.
37
1,554
124,135
Marine
Transportation
—
0.1%
Costamare,
Inc.
51
519
Genco
Shipping
&
Trading
Ltd.
50
714
Golden
Ocean
Group
Ltd.
143
1,387
Himalaya
Shipping
Ltd.
35
191
Matson,
Inc.
39
5,619
Pangaea
Logistics
Solutions
Ltd.
37
189
Safe
Bulkers,
Inc.
71
266
8,885
Media
—
0.1%
Advantage
Solutions,
Inc.*
125
314
AMC
Networks,
Inc.,
Class
a
A*
38
277
Boston
Omaha
Corp.,
Class
a
A*
29
413
Cable
One,
Inc.
7
1,821
Cardlytics,
Inc.*
49
129
Clear
Channel
Outdoor
Holdings,
Inc.*
415
519
EchoStar
Corp.,
Class
a
A*
143
4,466
Emerald
Holding,
Inc.
18
74
Entravision
Communications
Corp.,
Class
a
A
72
161
EW
Scripps
Co.
(The),
Class
a
A*
72
117
Gambling.com
Group
Ltd.*
20
284
Gannett
Co.,
Inc.*
167
675
Gray
Media,
Inc.
101
380
Ibotta,
Inc.,
Class
a
A*
18
601
iHeartMedia,
Inc.,
Class
a
A*
124
219
Integral
Ad
Science
Holding
Corp.*
86
905
John
Wiley
&
Sons,
Inc.,
Class
a
A
47
1,874
Magnite,
Inc.*
148
2,334
National
CineMedia,
Inc.*
82
549
PubMatic,
Inc.,
Class
a
A*
49
521
Scholastic
Corp.
27
591
Sinclair,
Inc.
38
552
Stagwell,
Inc.,
Class
a
A*
101
655
TechTarget,
Inc.*
31
455
TEGNA,
Inc.
195
3,549
Thryv
Holdings,
Inc.*
44
759
Townsquare
Media,
Inc.,
Class
a
A
16
137
WideOpenWest,
Inc.*
59
291
23,622
Metals
&
Mining
—
0.2%
Alpha
Metallurgical
Resources,
Inc.*
13
1,788
Caledonia
Mining
Corp.
plc
19
191
Carpenter
Technology
Corp.
56
11,596
Century
Aluminum
Co.*
62
1,175
Coeur
Mining,
Inc.*
736
3,790
Commercial
Metals
Co.
134
6,491
Investments
Shares
Value
Common
Stocks
(continued)
Compass
Minerals
International,
Inc.
41
$
428
Constellium
SE,
Class
a
A*
152
1,730
Contango
ORE,
Inc.*
12
112
Critical
Metals
Corp.*
10
19
Dakota
Gold
Corp.*
82
248
Hecla
Mining
Co.
691
3,545
i-80
Gold
Corp.*
373
289
Ivanhoe
Electric,
Inc.*
98
609
Kaiser
Aluminum
Corp.
19
1,344
Lifezone
Metals
Ltd.*
43
231
MAC
Copper
Ltd.,
Class
a
A*
63
634
Materion
Corp.
24
2,193
Metallus,
Inc.*
50
722
Novagold
Resources,
Inc.*
287
861
Olympic
Steel,
Inc.
12
399
Perpetua
Resources
Corp.*
45
386
Piedmont
Lithium,
Inc.*
21
149
Radius
Recycling,
Inc.,
Class
a
A
31
429
Ramaco
Resources,
Inc.,
Class
a
A
31
277
Ramaco
Resources,
Inc.,
Class
a
B
6
53
Ryerson
Holding
Corp.
32
806
SSR
Mining,
Inc.*
239
2,388
SunCoke
Energy,
Inc.
99
898
Tredegar
Corp.*
31
241
Warrior
Met
Coal,
Inc.
61
2,937
Worthington
Steel,
Inc.
38
1,013
47,972
Mortgage
Real
Estate
Investment
Trusts
(REITs)
—
0.0%(a)
Advanced
Flower
Capital,
Inc.
20
171
AG
Mortgage
Investment
Trust,
Inc.
34
257
Angel
Oak
Mortgage
REIT,
Inc.
14
140
Apollo
Commercial
Real
Estate
Finance,
Inc.
163
1,651
Arbor
Realty
Trust,
Inc.
217
2,678
Ares
Commercial
Real
Estate
Corp.
63
308
ARMOUR
Residential
REIT,
Inc.
66
1,257
Blackstone
Mortgage
Trust,
Inc.,
Class
a
A
204
4,239
BrightSpire
Capital,
Inc.,
Class
a
A
152
947
Chicago
Atlantic
Real
Estate
Finance,
Inc.
20
322
Chimera
Investment
Corp.
96
1,366
Claros
Mortgage
Trust,
Inc.
102
238
Dynex
Capital,
Inc.
93
1,309
Ellington
Financial,
Inc.
99
1,421
Franklin
BSP
Realty
Trust,
Inc.
97
1,314
Granite
Point
Mortgage
Trust,
Inc.
59
175
Invesco
Mortgage
Capital,
Inc.
65
571
KKR
Real
Estate
Finance
Trust,
Inc.
69
765
Ladder
Capital
Corp.,
Class
a
A
134
1,591
MFA
Financial,
Inc.
120
1,277
New
York
Mortgage
Trust,
Inc.
107
750
FEBRUARY
28,
2025
(Unaudited)
::
HEDGE
REPLICATION
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
25
HDG
::
Investments
Shares
Value
Common
Stocks
(continued)
Nexpoint
Real
Estate
Finance,
Inc.
10
$
165
Orchid
Island
Capital,
Inc.
93
795
PennyMac
Mortgage
Investment
Trust
102
1,494
Ready
Capital
Corp.
190
1,317
Redwood
Trust,
Inc.
155
1,035
Seven
Hills
Realty
Trust
15
193
Sunrise
Realty
Trust,
Inc.
7
85
TPG
RE
Finance
Trust,
Inc.
70
604
Two
Harbors
Investment
Corp.
122
1,730
30,165
Multi-Utilities
—
0.0%(a)
Avista
Corp.
92
3,677
Black
Hills
Corp.
82
5,017
Northwestern
Energy
Group,
Inc.
73
4,083
Unitil
Corp.
19
1,066
13,843
Office
REITs
—
0.1%
Brandywine
Realty
Trust,
REIT
199
1,005
City
Office
REIT,
Inc.
46
242
COPT
Defense
Properties,
REIT
132
3,568
Douglas
Emmett,
Inc.,
REIT
190
3,287
Easterly
Government
Properties,
Inc.,
Class
a
A,
REIT
114
1,285
Franklin
Street
Properties
Corp.,
REIT
115
216
Hudson
Pacific
Properties,
Inc.,
REIT
161
528
JBG
SMITH
Properties,
REIT
96
1,473
NET
Lease
Office
Properties,
REIT*
17
551
Orion
Office
REIT,
Inc.
66
272
Paramount
Group,
Inc.,
REIT
217
979
Peakstone
Realty
Trust,
REIT
43
488
Piedmont
Office
Realty
Trust,
Inc.,
Class
a
A,
REIT
145
1,101
Postal
Realty
Trust,
Inc.,
Class
a
A,
REIT
26
362
SL
Green
Realty
Corp.,
REIT
83
5,357
20,714
Oil,
Gas
&
Consumable
Fuels
—
0.4%
Aemetis,
Inc.*
43
77
Amplify
Energy
Corp.*
46
223
Ardmore
Shipping
Corp.
49
444
Berry
Corp.
90
366
BKV
Corp.*
17
343
California
Resources
Corp.
81
3,614
Centrus
Energy
Corp.,
Class
a
A*
17
1,542
Clean
Energy
Fuels
Corp.*
201
410
CNX
Resources
Corp.*
172
4,971
Comstock
Resources,
Inc.*
109
1,960
Core
Natural
Resources,
Inc.
62
4,604
Crescent
Energy
Co.,
Class
a
A
191
2,410
CVR
Energy,
Inc.
40
737
Delek
US
Holdings,
Inc.
75
1,223
Investments
Shares
Value
Common
Stocks
(continued)
DHT
Holdings,
Inc.
159
$
1,644
Diversified
Energy
Co.
plc(b)
55
732
Dorian
LPG
Ltd.
43
875
Empire
Petroleum
Corp.*
18
124
Encore
Energy
Corp.*
214
539
Energy
Fuels,
Inc.*
221
911
Evolution
Petroleum
Corp.
36
181
Excelerate
Energy,
Inc.,
Class
a
A
20
614
FLEX
LNG
Ltd.
36
792
FutureFuel
Corp.
31
140
Golar
LNG
Ltd.
116
4,447
Granite
Ridge
Resources,
Inc.
62
364
Green
Plains,
Inc.*
75
440
Gulfport
Energy
Corp.*
15
2,547
Hallador
Energy
Co.*
30
290
HighPeak
Energy,
Inc.
17
220
International
Seaways,
Inc.
48
1,600
Kinetik
Holdings,
Inc.,
Class
a
A
45
2,625
Kosmos
Energy
Ltd.*
552
1,551
Magnolia
Oil
&
Gas
Corp.,
Class
a
A
204
4,776
Murphy
Oil
Corp.
169
4,477
NACCO
Industries,
Inc.,
Class
a
A
5
161
NextDecade
Corp.*
136
1,118
Nordic
American
Tankers
Ltd.
240
588
Northern
Oil
&
Gas,
Inc.
117
3,685
Par
Pacific
Holdings,
Inc.*
64
920
PBF
Energy,
Inc.,
Class
a
A
118
2,529
Peabody
Energy
Corp.
149
2,055
Prairie
Operating
Co.*
5
36
PrimeEnergy
Resources
Corp.*
1
196
REX
American
Resources
Corp.*
18
695
Riley
Exploration
Permian,
Inc.
13
410
Ring
Energy,
Inc.*
174
223
Sable
Offshore
Corp.*
59
1,674
SandRidge
Energy,
Inc.
38
445
Scorpio
Tankers,
Inc.
52
2,072
SFL
Corp.
Ltd.
154
1,391
Sitio
Royalties
Corp.,
Class
a
A
95
1,900
SM
Energy
Co.
135
4,416
Talos
Energy,
Inc.*
171
1,539
Teekay
Corp.
Ltd.
65
425
Teekay
Tankers
Ltd.,
Class
a
A
28
1,057
Uranium
Energy
Corp.*
469
2,626
Ur-Energy,
Inc.*
416
399
VAALCO
Energy,
Inc.
123
492
Verde
Clean
Fuels,
Inc.*
4
17
Vital
Energy,
Inc.*
34
908
Vitesse
Energy,
Inc.
29
746
W&T
Offshore,
Inc.
116
194
World
Kinect
Corp.
67
2,006
87,736
Paper
&
Forest
Products
—
0.0%(a)
Clearwater
Paper
Corp.*
19
497
Sylvamo
Corp.
41
2,915
3,412
HEDGE
REPLICATION
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
26
HDG
::
Investments
Shares
Value
Common
Stocks
(continued)
Passenger
Airlines
—
0.0%(a)
Allegiant
Travel
Co.
18
$
1,323
Blade
Air
Mobility,
Inc.*
68
230
Frontier
Group
Holdings,
Inc.*
50
360
JetBlue
Airways
Corp.*
368
2,399
Joby
Aviation,
Inc.*
509
3,563
SkyWest,
Inc.*
47
4,649
Sun
Country
Airlines
Holdings,
Inc.*
46
741
Wheels
Up
Experience,
Inc.*
106
128
13,393
Personal
Care
Products
—
0.0%(a)
Beauty
Health
Co.
(The)*
88
129
Edgewell
Personal
Care
Co.
57
1,794
Herbalife
Ltd.*
119
988
Honest
Co.,
Inc.
(The)*
97
524
Interparfums,
Inc.
21
2,917
Medifast,
Inc.*
13
187
Nature's
Sunshine
Products,
Inc.*
15
219
Nu
Skin
Enterprises,
Inc.,
Class
a
A
58
459
Olaplex
Holdings,
Inc.*
163
236
USANA
Health
Sciences,
Inc.*
13
385
Veru,
Inc.*
155
81
Waldencast
plc,
Class
a
A*
29
95
8,014
Pharmaceuticals
—
0.2%
Alto
Neuroscience,
Inc.*
25
70
Alumis,
Inc.*
16
74
Amneal
Pharmaceuticals,
Inc.*
187
1,621
Amphastar
Pharmaceuticals,
Inc.*
45
1,279
ANI
Pharmaceuticals,
Inc.*
22
1,362
Aquestive
Therapeutics,
Inc.*
87
244
Arvinas,
Inc.*
76
1,345
Atea
Pharmaceuticals,
Inc.*
91
276
Avadel
Pharmaceuticals
plc,
ADR*
109
862
Axsome
Therapeutics,
Inc.*
43
5,484
BioAge
Labs,
Inc.*
14
65
Biote
Corp.,
Class
a
A*
32
140
Cassava
Sciences,
Inc.*
48
115
Collegium
Pharmaceutical,
Inc.*
38
1,104
Contineum
Therapeutics,
Inc.,
Class
a
A*
12
84
Corcept
Therapeutics,
Inc.*
95
5,755
CorMedix,
Inc.*
71
736
Edgewise
Therapeutics,
Inc.*
85
2,224
Enliven
Therapeutics,
Inc.*
41
854
Esperion
Therapeutics,
Inc.*
222
377
Evolus,
Inc.*
65
948
EyePoint
Pharmaceuticals,
Inc.*
77
483
Fulcrum
Therapeutics,
Inc.*
73
262
Harmony
Biosciences
Holdings,
Inc.*
45
1,523
Harrow,
Inc.*
36
1,011
Investments
Shares
Value
Common
Stocks
(continued)
Innoviva,
Inc.*
65
$
1,165
Ligand
Pharmaceuticals,
Inc.*
20
2,445
Liquidia
Corp.*
75
1,162
Lyra
Therapeutics,
Inc.*
57
12
MBX
Biosciences,
Inc.*
13
125
MediWound
Ltd.*
9
149
Mind
Medicine
MindMed,
Inc.*
95
638
Nektar
Therapeutics,
Class
a
A*
210
176
Neumora
Therapeutics,
Inc.*
99
154
Nuvation
Bio,
Inc.*
213
420
Ocular
Therapeutix,
Inc.*
183
1,307
Omeros
Corp.*
66
555
Pacira
BioSciences,
Inc.*
54
1,299
Phathom
Pharmaceuticals,
Inc.*
46
254
Phibro
Animal
Health
Corp.,
Class
a
A
24
546
Pliant
Therapeutics,
Inc.*
67
230
Prestige
Consumer
Healthcare,
Inc.*
58
4,915
Rapport
Therapeutics,
Inc.*
11
110
Scilex
Holding
Co.*
249
59
scPharmaceuticals,
Inc.*
46
151
Septerna,
Inc.*
22
142
SIGA
Technologies,
Inc.
55
302
Supernus
Pharmaceuticals,
Inc.*
59
1,892
Tarsus
Pharmaceuticals,
Inc.*
43
1,913
Telomir
Pharmaceuticals,
Inc.*
23
92
Terns
Pharmaceuticals,
Inc.*
83
306
Theravance
Biopharma,
Inc.*
43
402
Third
Harmonic
Bio,
Inc.*
23
79
Trevi
Therapeutics,
Inc.*
71
321
Ventyx
Biosciences,
Inc.*
72
114
Verrica
Pharmaceuticals,
Inc.*
22
14
WaVe
Life
Sciences
Ltd.*
108
1,142
Xeris
Biopharma
Holdings,
Inc.*
165
632
Zevra
Therapeutics,
Inc.*
62
497
52,018
Professional
Services
—
0.1%
Alight,
Inc.,
Class
a
A
494
3,374
Asure
Software,
Inc.*
29
304
Barrett
Business
Services,
Inc.
30
1,207
BlackSky
Technology,
Inc.*
30
434
CBIZ,
Inc.*
56
4,378
Conduent,
Inc.*
186
658
CRA
International,
Inc.
8
1,545
CSG
Systems
International,
Inc.
35
2,250
DLH
Holdings
Corp.*
10
51
ExlService
Holdings,
Inc.*
185
8,963
Exponent,
Inc.
59
4,995
First
Advantage
Corp.*
71
1,062
FiscalNote
Holdings,
Inc.*
74
91
Forrester
Research,
Inc.*
14
155
Franklin
Covey
Co.*
13
416
Heidrick
&
Struggles
International,
Inc.
24
984
HireQuest,
Inc.
6
91
Huron
Consulting
Group,
Inc.*
21
3,202
IBEX
Holdings
Ltd.*
10
253
FEBRUARY
28,
2025
(Unaudited)
::
HEDGE
REPLICATION
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
27
HDG
::
Investments
Shares
Value
Common
Stocks
(continued)
ICF
International,
Inc.
22
$
1,744
Innodata,
Inc.*
32
1,687
Insperity,
Inc.
42
3,695
Kelly
Services,
Inc.,
Class
a
A
36
485
Kforce,
Inc.
21
1,053
Korn
Ferry
61
4,005
Legalzoom.com,
Inc.*
151
1,534
Maximus,
Inc.
71
4,629
Mistras
Group,
Inc.*
25
246
NV5
Global,
Inc.*
67
1,209
Planet
Labs
PBC*
254
1,173
Resources
Connection,
Inc.
39
284
Spire
Global,
Inc.*
26
297
TriNet
Group,
Inc.
38
2,801
TrueBlue,
Inc.*
34
214
TTEC
Holdings,
Inc.
23
78
Upwork,
Inc.*
147
2,342
Verra
Mobility
Corp.,
Class
a
A*
194
4,441
Willdan
Group,
Inc.*
15
490
WNS
Holdings
Ltd.*
51
2,900
69,720
Real
Estate
Management
&
Development
—
0.0%(a)
American
Realty
Investors,
Inc.*
2
31
Anywhere
Real
Estate,
Inc.*
116
402
Compass,
Inc.,
Class
a
A*
429
3,857
Cushman
&
Wakefield
plc*
269
3,198
eXp
World
Holdings,
Inc.
96
971
Forestar
Group,
Inc.*
22
485
FRP
Holdings,
Inc.*
16
502
Kennedy-Wilson
Holdings,
Inc.
134
1,301
Marcus
&
Millichap,
Inc.
28
1,077
Maui
Land
&
Pineapple
Co.,
Inc.*
9
175
Newmark
Group,
Inc.,
Class
a
A
155
2,274
Offerpad
Solutions,
Inc.*
12
24
Opendoor
Technologies,
Inc.*
741
993
RE/MAX
Holdings,
Inc.,
Class
a
A*
21
186
Real
Brokerage,
Inc.
(The)*
118
609
Redfin
Corp.*
141
940
RMR
Group,
Inc.
(The),
Class
a
A
18
328
St
Joe
Co.
(The)
42
2,015
Star
Holdings*
15
139
Stratus
Properties,
Inc.*
7
129
Tejon
Ranch
Co.*
25
384
Transcontinental
Realty
Investors,
Inc.*
1
29
20,049
Residential
REITs
—
0.1%
Apartment
Investment
and
Management
Co.,
Class
a
A,
REIT
164
1,484
BRT
Apartments
Corp.,
REIT
13
234
Centerspace,
REIT
19
1,258
Clipper
Realty,
Inc.,
REIT
14
65
Elme
Communities,
REIT
104
1,809
Independence
Realty
Trust,
Inc.,
REIT
266
5,799
Investments
Shares
Value
Common
Stocks
(continued)
NexPoint
Residential
Trust,
Inc.,
REIT
26
$
1,106
UMH
Properties,
Inc.,
REIT
85
1,609
Veris
Residential,
Inc.,
REIT
92
1,558
14,922
Retail
REITs
—
0.2%
Acadia
Realty
Trust,
REIT
138
3,182
Alexander's,
Inc.,
REIT
3
643
CBL
&
Associates
Properties,
Inc.,
REIT
26
811
Curbline
Properties
Corp.,
REIT
112
2,759
FrontView
REIT,
Inc.
17
291
Getty
Realty
Corp.,
REIT
59
1,853
InvenTrust
Properties
Corp.,
REIT
91
2,710
Kite
Realty
Group
Trust,
REIT
256
5,870
Macerich
Co.
(The),
REIT
279
5,033
NETSTREIT
Corp.,
REIT
92
1,376
Phillips
Edison
&
Co.,
Inc.,
REIT
145
5,394
Saul
Centers,
Inc.,
REIT
12
449
SITE
Centers
Corp.,
REIT
56
785
Tanger,
Inc.,
REIT
125
4,431
Urban
Edge
Properties,
REIT
148
3,049
Whitestone
REIT
58
790
39,426
Semiconductors
&
Semiconductor
Equipment
—
0.2%
ACM
Research,
Inc.,
Class
a
A*
60
1,556
Aehr
Test
Systems*
33
318
Alpha
&
Omega
Semiconductor
Ltd.*
28
848
Ambarella,
Inc.*
45
2,764
Axcelis
Technologies,
Inc.*
38
2,082
CEVA,
Inc.*
27
925
Cohu,
Inc.*
54
1,062
Credo
Technology
Group
Holding
Ltd.*
165
9,105
Diodes,
Inc.*
54
2,666
Everspin
Technologies,
Inc.*
23
130
FormFactor,
Inc.*
91
3,030
GCT
Semiconductor
Holding,
Inc.*
9
17
Ichor
Holdings
Ltd.*
39
1,142
Impinj,
Inc.*
27
2,610
indie
Semiconductor,
Inc.,
Class
a
A*
193
581
Kulicke
&
Soffa
Industries,
Inc.
62
2,373
MaxLinear,
Inc.,
Class
a
A*
94
1,373
Navitas
Semiconductor
Corp.,
Class
a
A*
148
361
NVE
Corp.
6
413
PDF
Solutions,
Inc.*
37
833
Penguin
Solutions,
Inc.*
61
1,216
Photronics,
Inc.*
73
1,521
Power
Integrations,
Inc.
67
4,074
QuickLogic
Corp.*
16
98
Rambus,
Inc.*
126
7,042
Rigetti
Computing,
Inc.*
186
1,574
Semtech
Corp.*
86
3,284
HEDGE
REPLICATION
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
28
HDG
::
Investments
Shares
Value
Common
Stocks
(continued)
Silicon
Laboratories,
Inc.*
38
$
5,331
SiTime
Corp.*
22
3,413
SkyWater
Technology,
Inc.*
32
299
Synaptics,
Inc.*
47
3,109
Ultra
Clean
Holdings,
Inc.*
52
1,279
Veeco
Instruments,
Inc.*
65
1,446
67,875
Software
—
0.9%
8x8,
Inc.*
150
375
A10
Networks,
Inc.
83
1,726
ACI
Worldwide,
Inc.*
124
7,111
Adeia,
Inc.
128
2,012
Agilysys,
Inc.*
27
2,187
Airship
AI
Holdings,
Inc.*
9
38
Alarm.com
Holdings,
Inc.*
56
3,253
Alkami
Technology,
Inc.*
62
1,912
Altair
Engineering,
Inc.,
Class
a
A*
64
7,142
Amplitude,
Inc.,
Class
a
A*
92
1,158
Appian
Corp.,
Class
a
A*
47
1,526
Arteris,
Inc.*
33
300
Asana,
Inc.,
Class
a
A*
96
1,848
AudioEye,
Inc.*
8
104
Aurora
Innovation,
Inc.,
Class
a
A*
1,130
8,215
AvePoint,
Inc.*
152
2,271
Bit
Digital,
Inc.*
141
347
Blackbaud,
Inc.*
48
3,173
BlackLine,
Inc.*
68
3,284
Blend
Labs,
Inc.,
Class
a
A*
279
873
Box,
Inc.,
Class
a
A*
166
5,428
Braze,
Inc.,
Class
a
A*
78
2,884
C3.ai,
Inc.,
Class
a
A*
130
3,048
Cerence,
Inc.*
48
548
Cipher
Mining,
Inc.*
238
971
Cleanspark,
Inc.*
293
2,341
Clear
Secure,
Inc.,
Class
a
A
103
2,442
Clearwater
Analytics
Holdings,
Inc.,
Class
a
A*
210
6,531
Commvault
Systems,
Inc.*
51
8,699
Consensus
Cloud
Solutions,
Inc.*
21
550
Core
Scientific,
Inc.*
210
2,344
CS
Disco,
Inc.*
34
164
Daily
Journal
Corp.*
2
787
Digimarc
Corp.*
18
294
Digital
Turbine,
Inc.*
113
388
Domo,
Inc.,
Class
a
B*
40
304
D-Wave
Quantum,
Inc.*
116
636
E2open
Parent
Holdings,
Inc.*
241
552
eGain
Corp.*
21
103
Enfusion,
Inc.,
Class
a
A*
58
666
EverCommerce,
Inc.*
25
248
Freshworks,
Inc.,
Class
a
A*
243
4,146
Hut
8
Corp.*
95
1,401
I3
Verticals,
Inc.,
Class
a
A*
27
700
Intapp,
Inc.*
63
4,155
InterDigital,
Inc.
30
6,409
Jamf
Holding
Corp.*
96
1,313
Kaltura,
Inc.*
115
244
Investments
Shares
Value
Common
Stocks
(continued)
Life360,
Inc.*
12
$
542
LiveRamp
Holdings,
Inc.*
78
2,331
Logility
Supply
Chain
Solutions,
Inc.,
Class
a
A
37
523
MARA
Holdings,
Inc.*
335
4,663
Matterport,
Inc.*
312
1,704
Meridianlink,
Inc.*
38
694
Mitek
Systems,
Inc.*
54
506
N-able,
Inc.*
84
842
NCR
Voyix
Corp.*
171
1,929
NextNav,
Inc.*
91
955
Olo,
Inc.,
Class
a
A*
123
847
ON24,
Inc.*
32
179
OneSpan,
Inc.
45
722
Ooma,
Inc.*
29
417
Pagaya
Technologies
Ltd.,
Class
a
A*
42
539
PagerDuty,
Inc.*
105
1,861
Porch
Group,
Inc.*
93
650
Progress
Software
Corp.
50
2,732
PROS
Holdings,
Inc.*
54
1,306
Q2
Holdings,
Inc.*
69
6,029
Qualys,
Inc.*
44
5,784
Rapid7,
Inc.*
73
2,124
Red
Violet,
Inc.
13
528
Rekor
Systems,
Inc.*
87
107
ReposiTrak,
Inc.
14
275
Rimini
Street,
Inc.*
62
220
Riot
Platforms,
Inc.*
336
3,118
Roadzen,
Inc.*
44
54
Sapiens
International
Corp.
NV
36
993
SEMrush
Holdings,
Inc.,
Class
a
A*
43
473
Silvaco
Group,
Inc.*
7
43
SolarWinds
Corp.
64
1,172
SoundHound
AI,
Inc.,
Class
a
A*
363
3,928
SoundThinking,
Inc.*
12
197
Sprinklr,
Inc.,
Class
a
A*
137
1,160
Sprout
Social,
Inc.,
Class
a
A*
59
1,565
SPS
Commerce,
Inc.*
44
5,861
Telos
Corp.*
65
194
Tenable
Holdings,
Inc.*
139
5,301
Terawulf,
Inc.*
315
1,320
Varonis
Systems,
Inc.,
Class
a
B*
130
5,586
Verint
Systems,
Inc.*
72
1,625
Vertex,
Inc.,
Class
a
A*
64
2,067
Viant
Technology,
Inc.,
Class
a
A*
18
360
Weave
Communications,
Inc.*
47
592
WM
Technology,
Inc.*
101
132
Workiva,
Inc.,
Class
a
A*
59
5,164
Xperi,
Inc.*
54
457
Yext,
Inc.*
125
850
Zeta
Global
Holdings
Corp.,
Class
a
A*
210
3,614
191,986
Specialized
REITs
—
0.0%(a)
Farmland
Partners,
Inc.,
REIT
52
610
Four
Corners
Property
Trust,
Inc.,
REIT
114
3,277
FEBRUARY
28,
2025
(Unaudited)
::
HEDGE
REPLICATION
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
29
HDG
::
Investments
Shares
Value
Common
Stocks
(continued)
Gladstone
Land
Corp.,
REIT
40
$
458
Outfront
Media,
Inc.,
REIT
171
3,181
PotlatchDeltic
Corp.,
REIT
93
4,318
Safehold,
Inc.,
REIT
61
1,138
Uniti
Group,
Inc.,
REIT
286
1,642
14,624
Specialty
Retail
—
0.3%
1-800-Flowers.com,
Inc.,
Class
a
A*
30
207
Abercrombie
&
Fitch
Co.,
Class
a
A*
59
6,076
Academy
Sports
&
Outdoors,
Inc.
81
4,017
aka
Brands
Holding
Corp.*
1
14
American
Eagle
Outfitters,
Inc.
209
2,736
America's
Car-Mart,
Inc.*
8
335
Arhaus,
Inc.,
Class
a
A
60
571
Arko
Corp.
95
428
Asbury
Automotive
Group,
Inc.*
23
6,173
BARK,
Inc.*
153
259
Beyond,
Inc.*
54
345
Boot
Barn
Holdings,
Inc.*
35
4,285
Buckle,
Inc.
(The)
36
1,442
Build-A-Bear
Workshop,
Inc.
15
614
Caleres,
Inc.
40
646
Camping
World
Holdings,
Inc.,
Class
a
A
66
1,286
Citi
Trends,
Inc.*
8
197
Designer
Brands,
Inc.,
Class
a
A
48
193
Destination
XL
Group,
Inc.*
63
144
EVgo,
Inc.,
Class
a
A*
119
315
Foot
Locker,
Inc.*
98
1,697
Genesco,
Inc.*
12
439
Group
1
Automotive,
Inc.
16
7,353
GrowGeneration
Corp.*
66
75
Haverty
Furniture
Cos.,
Inc.
17
388
J
Jill,
Inc.
7
166
Lands'
End,
Inc.*
17
200
Leslie's,
Inc.*
212
220
MarineMax,
Inc.*
25
634
Monro,
Inc.
35
623
National
Vision
Holdings,
Inc.*
92
1,169
ODP
Corp.
(The)*
38
591
OneWater
Marine,
Inc.,
Class
a
A*
14
232
Petco
Health
&
Wellness
Co.,
Inc.,
Class
a
A*
99
266
RealReal,
Inc.
(The)*
118
805
Revolve
Group,
Inc.,
Class
a
A*
45
1,195
RumbleON,
Inc.,
Class
a
B*
20
84
Sally
Beauty
Holdings,
Inc.*
121
1,091
Shoe
Carnival,
Inc.
21
465
Signet
Jewelers
Ltd.
50
2,616
Sleep
Number
Corp.*
25
352
Sonic
Automotive,
Inc.,
Class
a
A
17
1,159
Stitch
Fix,
Inc.,
Class
a
A*
119
563
ThredUp,
Inc.,
Class
a
A*
93
219
Tile
Shop
Holdings,
Inc.*
34
257
Tilly's,
Inc.,
Class
a
A*
17
65
Torrid
Holdings,
Inc.*
24
144
Investments
Shares
Value
Common
Stocks
(continued)
Upbound
Group,
Inc.
63
$
1,627
Urban
Outfitters,
Inc.*
75
4,364
Victoria's
Secret
&
Co.*
92
2,459
Warby
Parker,
Inc.,
Class
a
A*
104
2,572
Winmark
Corp.
3
1,008
Zumiez,
Inc.*
18
257
65,638
Technology
Hardware,
Storage
&
Peripherals
—
0.1%
CompoSecure,
Inc.,
Class
a
A
29
387
Corsair
Gaming,
Inc.*
53
622
CPI
Card
Group,
Inc.*
6
201
Diebold
Nixdorf,
Inc.*
30
1,327
Eastman
Kodak
Co.*
71
498
Immersion
Corp.
36
289
IonQ,
Inc.*
237
5,823
Turtle
Beach
Corp.*
19
326
Xerox
Holdings
Corp.
137
908
10,381
Textiles,
Apparel
&
Luxury
Goods
—
0.0%(a)
Figs,
Inc.,
Class
a
A*
153
699
G-III
Apparel
Group
Ltd.*
46
1,245
Hanesbrands,
Inc.*
416
2,508
Kontoor
Brands,
Inc.
65
4,228
Movado
Group,
Inc.
18
348
Oxford
Industries,
Inc.
17
1,055
Rocky
Brands,
Inc.
9
183
Steven
Madden
Ltd.
85
2,787
Superior
Group
of
Cos.,
Inc.
15
214
Vera
Bradley,
Inc.*
29
95
Wolverine
World
Wide,
Inc.
93
1,375
14,737
Tobacco
—
0.0%(a)
Ispire
Technology,
Inc.*
23
109
Turning
Point
Brands,
Inc.
20
1,406
Universal
Corp.
28
1,501
3,016
Trading
Companies
&
Distributors
—
0.4%
Alta
Equipment
Group,
Inc.
32
175
Applied
Industrial
Technologies,
Inc.
45
11,276
Beacon
Roofing
Supply,
Inc.*
73
8,426
BlueLinx
Holdings,
Inc.*
10
794
Boise
Cascade
Co.
46
4,768
Custom
Truck
One
Source,
Inc.*
58
257
Distribution
Solutions
Group,
Inc.*
12
354
DNOW,
Inc.*
124
1,982
DXP
Enterprises,
Inc.*
15
1,357
EVI
Industries,
Inc.
6
104
FTAI
Aviation
Ltd.
120
15,445
GATX
Corp.
42
7,016
Global
Industrial
Co.
16
375
GMS,
Inc.*
46
3,662
H&E
Equipment
Services,
Inc.
38
3,644
Herc
Holdings,
Inc.
33
4,735
Hudson
Technologies,
Inc.*
52
300
HEDGE
REPLICATION
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
30
HDG
::
Investments
Shares
Value
Common
Stocks
(continued)
Karat
Packaging,
Inc.
8
$
239
McGrath
RentCorp
29
3,538
MRC
Global,
Inc.*
99
1,205
Rush
Enterprises,
Inc.,
Class
a
A
72
4,199
Rush
Enterprises,
Inc.,
Class
a
B
10
569
Titan
Machinery,
Inc.*
25
430
Transcat,
Inc.*
11
875
Willis
Lease
Finance
Corp.
3
607
Xometry,
Inc.,
Class
a
A*
50
1,366
77,698
Transportation
Infrastructure
—
0.0%(a)
Sky
Harbour
Group
Corp.*
13
143
Water
Utilities
—
0.0%(a)
American
States
Water
Co.
44
3,368
Cadiz,
Inc.*
50
213
California
Water
Service
Group
70
3,181
Consolidated
Water
Co.
Ltd.
18
487
Global
Water
Resources,
Inc.
14
161
Middlesex
Water
Co.
21
1,053
Pure
Cycle
Corp.*
24
279
SJW
Group
39
2,054
York
Water
Co.
(The)
17
545
11,341
Wireless
Telecommunication
Services
—
0.0%(a)
Gogo,
Inc.*
76
557
Spok
Holdings,
Inc.
22
371
Telephone
and
Data
Systems,
Inc.
116
4,188
5,116
Total
Common
Stocks
(Cost
$2,022,618)
3,037,389
Number
of
Rights
Rights
—
0
.0
%
(a)
Biotechnology
—
0.0%(a)
Aduro
Biotech,
Inc.,
CVR*(c)
39
—
Cartesian
Therapeutics,
Inc.,
expiring
12/31/2049*
263
47
Chinook
Therape,
CVR*
118
—
Tobira
Therapeutics,
Inc.,
CVR*
10
—
Total
Rights
(Cost
$146)
47
Shares
Securities
Lending
Reinvestments
(d)
—
0
.0
%
(a)
Investment
Companies
—
0
.0
%
(a)
Invesco
Government
&
Agency
Portfolio,
Institutional
Class
4.29%
(e)
(Cost
$44)
44
44
Investments
Principal
Amount
Value
Short-Term
Investments
—
84
.7
%
Repurchase
Agreements
(f)
—
16
.3
%
Repurchase
Agreements
with
various
counterparties,
rates
4.15%
-
4.36%,
dated
2/28/2025,
due
3/3/2025,
total
to
be
received
$4,026,891
(Cost
$4,025,439)
$
4,025,439
$
4,025,439
U.S.
Treasury
Obligations
—
68
.4
%
U.S.
Treasury
Bills
4.25%,
5/8/2025
(g)                                                                            
(Cost
$16,914,576)
17,050,000
16,922,315
Total
Short-Term
Investments
(Cost
$20,940,015)
20,947,754
Total
Investments
—
96.9%
(Cost
$22,962,823)
23,985,234
Other
assets
less
liabilities
—
3.1%
758,633
Net
Assets
—
100.0%
$
24,743,867
*
Non-income
producing
security.
(a)
Represents
less
than
0.05%
of
net
assets.
(b)
Security
exempt
from
registration
pursuant
to
Regulation
S
under
the
Securities
Act
of
1933.
Regulation
S
applies
to
securities
offerings
that
are
made
outside
of
the
United
States
and
do
not
involve
direct
selling
efforts
in
the
United
States
and
as
such
may
have
restrictions
on
resale.
(c)
The
security
or
a
portion
of
this
security
is
on
loan
at
February
28,
2025.
The
total
value
of
securities
on
loan
at
February
28,
2025
was
$0,
collateralized
in
the
form
of
cash
with
a
value
of
$44
that
was
reinvested
in
the
securities
shown
in
the
Securities
Lending
Reinvestment
section
of
the
Schedule
of
Portfolio
Investments.
(d)
The
security
was
purchased
with
cash
collateral
held
from
securities
on
loan
at
February
28,
2025.
The
total
value
of
securities
purchased
was
$44.
(e)
Rate
shown
is
the
7-day
yield
as
of
February
28,
2025.
(f)
The
Fund
invests
in
Repurchase
Agreements
jointly
with
other
funds
in
the
Trust.
See
"Repurchase
Agreements"
in
the
Notes
to
Schedules
of
Portfolio
Investments
to
view
the
details
of
each
individual
agreement
and
counterparty
as
well
as
a
description
of
the
securities
subject
to
repurchase.
(g)
The
rate
shown
was
the
current
yield
as
of
February
28,
2025.
Abbreviations
ADR
American
Depositary
Receipt
CVR
Contingent
Value
Rights
-
No
defined
expiration
REIT
Real
Estate
Investment
Trust
FEBRUARY
28,
2025
(Unaudited)
::
HEDGE
REPLICATION
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
31
HDG
::
Futures
Contracts
Sold
Hedge
Replication
ETF
had
the
following
open
long
and
short
futures
contracts
as
of
February
28,
2025:
Number
of
Contracts
A
Expiration
Date
A
Trading
Currency
A
Notional
Amount
A
Value
and
Unrealized
Appreciation
A
E-Mini
Euro
90
3/17/2025
U.S.
Dollar
$
5,839,875
$
47,232
Swap
Agreements
Hedge
Replication
ETF
had
the
following
open
non-exchange
traded
total
return
swap
agreements
as
of
February
28,
2025:
Notional
Amount  
($)
Termination
Date
a
Counterparty
Rate
Paid
(Received)
b
Reference
Instrument
Value
and
Unrealized
Appreciation
/
(Depreciation)
($)
278,690
3/6/2025
Morgan
Stanley
&
Co.
International
plc
5.03%
iShares
®
MSCI
Emerging
Markets
ETF
10,673
34,609
11/6/2026
Societe
Generale
5.23%
Russell
2000
®
Total
Return
Index
(
3,240
)
565,677
11/6/2026
Societe
Generale
5.38%
S&P
500
®
Total
Return
Index
(
19,931
)
900,559
1/26/2026
Societe
Generale
5.13%
iShares
®
MSCI
Emerging
Markets
ETF
89,284
2,649,239
11/6/2026
Societe
Generale
4.88%
iShares
®
MSCI
EAFE
ETF
143,498
4,150,084
209,611
62,729
11/6/2026
UBS
AG
5.03%
Russell
2000
®
Total
Return
Index
(
7,234
)
536,650
11/6/2025
UBS
AG
4.73%
iShares
®
MSCI
Emerging
Markets
ETF
37,728
1,031,091
1/26/2026
UBS
AG
4.73%
iShares
®
MSCI
EAFE
ETF
(
2,715
)
1,630,470
27,779
6,059,244
248,063
Total
Unrealized
Appreciation
281,183
Total
Unrealized
Depreciation
(
33,120
)
a
Agreements
may
be
terminated
at
will
by
either
party
without
penalty.
Payment
is
due
at
termination/maturity.
b
Reflects
the
floating
financing
rate,
as
of
February
28,
2025,
on
the
notional
amount
of
the
swap
agreement
paid
to
the
counterparty
or
received
from
the
counterparty,
excluding
any
commissions.
This
amount
is
included
as
part
of
the
unrealized
appreciation/(depreciation).
HIGH
YIELD-INTEREST
RATE
HEDGED
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
32
HYHG
::
Investments
Principal
Amount
Value
Corporate
Bonds
—
95
.3
%
Aerospace
&
Defense
—
2
.2
%
Spirit
AeroSystems,
Inc.
9.75%,
11/15/2030
(a)
$
550,000
$
608,931
TransDigm,
Inc.
5.50%,
11/15/2027
1,765,000
1,747,756
6.38%,
3/1/2029
(a)
1,540,000
1,558,842
3,915,529
Automobile
Components
—
0
.9
%
Allison
Transmission,
Inc.
3.75%,
1/30/2031
(a)
634,000
570,475
Tenneco,
Inc.
8.00%,
11/17/2028
(a)
998,000
991,509
1,561,984
Automobiles
—
0
.2
%
Aston
Martin
Capital
Holdings
Ltd.
10.00%,
3/31/2029
(a)
431,000
417,808
Banks
—
0
.4
%
UniCredit
SpA
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
4.75%),
5.46%,
6/30/2035
(a)(b)
786,000
770,943
Broadline
Retail
—
0
.6
%
Saks
Global
Enterprises
LLC
11.00%,
12/15/2029
(a)
1,062,000
980,732
Building
Products
—
3
.8
%
Builders
FirstSource,
Inc.
4.25%,
2/1/2032
(a)
280,000
253,381
6.38%,
3/1/2034
(a)
971,000
982,731
EMRLD
Borrower
LP
6.63%,
12/15/2030
(a)
1,775,000
1,795,496
Quikrete
Holdings,
Inc.
6.38%,
3/1/2032
(a)
500,000
507,105
6.75%,
3/1/2033
(a)
500,000
507,500
Smyrna
Ready
Mix
Concrete
LLC
6.00%,
11/1/2028
(a)
322,000
319,087
8.88%,
11/15/2031
(a)
628,000
674,673
Standard
Industries,
Inc.
4.38%,
7/15/2030
(a)
1,076,000
1,005,049
3.38%,
1/15/2031
(a)
874,000
767,251
6,812,273
Capital
Markets
—
1
.3
%
Coinbase
Global,
Inc.
3.38%,
10/1/2028
(a)
521,000
477,689
Compass
Group
Diversified
Holdings
LLC
5.25%,
4/15/2029
(a)
232,000
224,766
Investments
Principal
Amount
Value
Corporate
Bonds
(continued)
Capital
Markets
Focus
Financial
Partners
LLC
6.75%,
9/15/2031
(a)
$
382,000
$
385,181
Jane
Street
Group
7.13%,
4/30/2031
(a)
709,000
735,554
6.13%,
11/1/2032
(a)
495,000
495,973
2,319,163
Chemicals
—
1
.2
%
Olympus
Water
US
Holding
Corp.
9.75%,
11/15/2028
(a)
803,000
845,158
SCIH
Salt
Holdings,
Inc.
4.88%,
5/1/2028
(a)
443,000
427,168
Tronox,
Inc.
4.63%,
3/15/2029
(a)
572,000
511,755
WR
Grace
Holdings
LLC
5.63%,
8/15/2029
(a)
396,000
363,669
2,147,750
Commercial
Services
&
Supplies
—
3
.3
%
Allied
Universal
Holdco
LLC
4.63%,
6/1/2028
(a)
1,223,000
1,166,159
7.88%,
2/15/2031
(a)
569,000
586,744
Garda
World
Security
Corp.
8.38%,
11/15/2032
(a)
442,000
454,369
GFL
Environmental,
Inc.
6.75%,
1/15/2031
(a)
572,000
593,211
Madison
IAQ
LLC
5.88%,
6/30/2029
(a)(c)
532,000
513,019
Prime
Security
Services
Borrower
LLC
3.38%,
8/31/2027
(a)
729,000
692,633
Raven
Acquisition
Holdings
LLC
6.88%,
11/15/2031
(a)
750,000
740,752
RR
Donnelley
&
Sons
Co.
9.50%,
8/1/2029
(a)
520,000
532,665
Veritiv
Operating
Co.
10.50%,
11/30/2030
(a)
649,000
705,821
5,985,373
Construction
&
Engineering
—
0
.3
%
Brand
Industrial
Services,
Inc.
10.38%,
8/1/2030
(a)
563,000
573,396
Consumer
Staples
Distribution
&
Retail
—
1
.0
%
Albertsons
Cos.,
Inc.
3.50%,
3/15/2029
(a)
539,000
498,244
KeHE
Distributors
LLC
9.00%,
2/15/2029
(a)
384,000
399,261
Performance
Food
Group,
Inc.
4.25%,
8/1/2029
(a)
679,000
640,007
6.13%,
9/15/2032
(a)
277,000
278,388
1,815,900
FEBRUARY
28,
2025
(Unaudited)
::
HIGH
YIELD-INTEREST
RATE
HEDGED
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
33
HYHG
::
Investments
Principal
Amount
Value
Corporate
Bonds
(continued)
Containers
&
Packaging
—
3
.0
%
Ardagh
Metal
Packaging
Finance
USA
LLC
4.00%,
9/1/2029
(a)
$
424,000
$
370,106
Ardagh
Packaging
Finance
plc
5.25%,
8/15/2027
(a)
634,000
323,784
Ball
Corp.
6.00%,
6/15/2029
610,000
620,241
2.88%,
8/15/2030
1,158,000
1,015,781
Clydesdale
Acquisition
Holdings,
Inc.
8.75%,
4/15/2030
(a)
507,000
514,705
Mauser
Packaging
Solutions
Holding
Co.
7.88%,
4/15/2027
(a)
1,953,000
1,982,768
Pactiv
Evergreen
Group
Issuer,
Inc.
4.00%,
10/15/2027
(a)
591,000
592,321
5,419,706
Diversified
Consumer
Services
—
0
.7
%
Belron
UK
Finance
plc
5.75%,
10/15/2029
(a)
632,000
631,128
Wand
NewCo
3,
Inc.
7.63%,
1/30/2032
(a)(c)
673,000
696,171
1,327,299
Diversified
REITs
—
1
.1
%
Uniti
Group
LP
REIT,
10.50%,
2/15/2028
(a)
1,167,000
1,248,089
REIT,
6.50%,
2/15/2029
(a)
689,000
640,316
1,888,405
Diversified
Telecommunication
Services
—
6
.3
%
Altice
France
SA
5.13%,
7/15/2029
(a)(c)
1,033,000
799,619
5.50%,
10/15/2029
(a)
1,311,000
1,024,097
CCO
Holdings
LLC
4.25%,
2/1/2031
(a)
2,661,000
2,386,795
4.50%,
5/1/2032
471,000
414,933
Frontier
Communications
Holdings
LLC
5.00%,
5/1/2028
(a)
960,000
949,815
8.75%,
5/15/2030
(a)
454,000
480,047
Intelsat
Jackson
Holdings
SA
6.50%,
3/15/2030
(a)
1,662,000
1,553,338
Level
3
Financing,
Inc.
11.00%,
11/15/2029
(a)
809,000
918,013
Sable
International
Finance
Ltd.
7.13%,
10/15/2032
(a)
519,000
509,007
Windstream
Escrow
LLC
7.75%,
8/15/2028
‡
556
—
Windstream
Services
LLC
8.25%,
10/1/2031
(a)
1,100,000
1,137,120
Zayo
Group
Holdings,
Inc.
4.00%,
3/1/2027
(a)
578,000
544,135
6.13%,
3/1/2028
(a)
713,000
631,888
11,348,807
Investments
Principal
Amount
Value
Corporate
Bonds
(continued)
Electric
Utilities
—
2
.2
%
Alpha
Generation
LLC
6.75%,
10/15/2032
(a)
$
485,000
$
491,684
NRG
Energy,
Inc.
3.63%,
2/15/2031
(a)
828,000
738,817
PG&E
Corp.
5.25%,
7/1/2030
1,070,000
1,026,870
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.88%),
7.38%,
3/15/2055
(b)
419,000
414,104
Vistra
Operations
Co.
LLC
4.38%,
5/1/2029
(a)
550,000
524,838
7.75%,
10/15/2031
(a)
755,000
797,136
3,993,449
Electrical
Equipment
—
0
.2
%
Sensata
Technologies
BV
4.00%,
4/15/2029
(a)(c)
461,000
428,159
Energy
Equipment
&
Services
—
1
.0
%
USA
Compression
Partners
LP
7.13%,
3/15/2029
(a)
419,000
430,020
Valaris
Ltd.
8.38%,
4/30/2030
(a)
481,000
487,214
Weatherford
International
Ltd.
8.63%,
4/30/2030
(a)
921,000
951,147
1,868,381
Entertainment
—
0
.8
%
Live
Nation
Entertainment,
Inc.
6.50%,
5/15/2027
(a)
557,000
566,055
ROBLOX
Corp.
3.88%,
5/1/2030
(a)
851,000
783,043
1,349,098
Financial
Services
—
4
.0
%
Block,
Inc.
3.50%,
6/1/2031
97,000
86,111
6.50%,
5/15/2032
(a)
1,210,000
1,234,523
Boost
Newco
Borrower
LLC
7.50%,
1/15/2031
(a)
1,246,000
1,303,078
Freedom
Mortgage
Holdings
LLC
9.25%,
2/1/2029
(a)
556,000
582,396
Jefferies
Finance
LLC
5.00%,
8/15/2028
(a)
422,000
403,075
Midcap
Financial
Issuer
Trust
6.50%,
5/1/2028
(a)
394,000
388,783
Nationstar
Mortgage
Holdings,
Inc.
7.13%,
2/1/2032
(a)
500,000
515,043
NCR
Atleos
Corp.
9.50%,
4/1/2029
(a)
770,000
840,528
Rocket
Mortgage
LLC
2.88%,
10/15/2026
(a)
457,000
438,375
3.88%,
3/1/2031
(a)
1,053,000
943,569
HIGH
YIELD-INTEREST
RATE
HEDGED
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
34
HYHG
::
Investments
Principal
Amount
Value
Corporate
Bonds
(continued)
Financial
Services
Shift4
Payments
LLC
6.75%,
8/15/2032
(a)
$
446,000
$
454,420
7,189,901
Food
Products
—
1
.1
%
Darling
Ingredients,
Inc.
6.00%,
6/15/2030
(a)
436,000
437,112
Post
Holdings,
Inc.
6.38%,
3/1/2033
(a)
1,540,000
1,535,491
1,972,603
Ground
Transportation
—
1
.1
%
Brightline
East
LLC
11.00%,
1/31/2030
(a)
653,000
597,289
EquipmentShare.com,
Inc.
9.00%,
5/15/2028
(a)
441,000
464,170
Hertz
Corp.
(The)
12.63%,
7/15/2029
(a)
464,000
489,071
5.00%,
12/1/2029
(a)(c)
729,000
501,349
2,051,879
Health
Care
Equipment
&
Supplies
—
1
.9
%
Avantor
Funding,
Inc.
4.63%,
7/15/2028
(a)
646,000
625,112
Medline
Borrower
LP
3.88%,
4/1/2029
(a)
746,000
698,847
5.25%,
10/1/2029
(a)
2,167,000
2,100,683
3,424,642
Health
Care
Providers
&
Services
—
5
.3
%
Community
Health
Systems,
Inc.
5.63%,
3/15/2027
(a)
1,401,000
1,352,113
10.88%,
1/15/2032
(a)
708,000
726,198
CVS
Health
Corp.
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.89%),
7.00%,
3/10/2055
(b)
1,029,000
1,037,695
DaVita,
Inc.
4.63%,
6/1/2030
(a)
1,384,000
1,283,120
3.75%,
2/15/2031
(a)
640,000
561,481
LifePoint
Health,
Inc.
11.00%,
10/15/2030
(a)
421,000
463,296
MPH
Acquisition
Holdings
LLC
5.50%,
9/1/2028
(a)
485,000
373,586
Prime
Healthcare
Services,
Inc.
9.38%,
9/1/2029
(a)
649,000
612,782
Star
Parent,
Inc.
9.00%,
10/1/2030
(a)
393,000
410,672
Tenet
Healthcare
Corp.
6.13%,
10/1/2028
1,133,000
1,131,615
6.13%,
6/15/2030
1,085,000
1,086,890
US
Acute
Care
Solutions
LLC
9.75%,
5/15/2029
(a)
513,000
524,359
9,563,807
Investments
Principal
Amount
Value
Corporate
Bonds
(continued)
Health
Care
REITs
—
0
.7
%
MPT
Operating
Partnership
LP
REIT,
3.50%,
3/15/2031
$
1,072,000
$
734,816
REIT,
8.50%,
2/15/2032
(a)
461,000
472,918
1,207,734
Hotel
&
Resort
REITs
—
0
.5
%
RHP
Hotel
Properties
LP
REIT,
6.50%,
4/1/2032
(a)
382,000
387,042
Service
Properties
Trust
REIT,
8.63%,
11/15/2031
(a)
420,000
449,868
836,910
Hotels,
Restaurants
&
Leisure
—
7
.0
%
1011778
BC
ULC
6.13%,
6/15/2029
(a)
1,119,000
1,138,222
4.00%,
10/15/2030
(a)
1,004,000
915,433
Caesars
Entertainment,
Inc.
7.00%,
2/15/2030
(a)
1,614,000
1,663,392
6.50%,
2/15/2032
(a)
242,000
245,499
Carnival
Corp.
5.75%,
3/1/2027
(a)
1,765,000
1,769,390
6.13%,
2/15/2033
(a)
500,000
503,268
Churchill
Downs,
Inc.
5.75%,
4/1/2030
(a)
850,000
840,011
Fertitta
Entertainment
LLC
4.63%,
1/15/2029
(a)
714,000
675,152
6.75%,
1/15/2030
(a)
467,000
434,178
Hilton
Domestic
Operating
Co.,
Inc.
4.00%,
5/1/2031
(a)
769,000
705,418
3.63%,
2/15/2032
(a)
1,430,000
1,266,865
NCL
Corp.
Ltd.
5.88%,
2/15/2027
(a)
920,000
922,145
6.75%,
2/1/2032
(a)
595,000
607,721
Wynn
Resorts
Finance
LLC
7.13%,
2/15/2031
(a)
426,000
448,265
Yum!
Brands,
Inc.
3.63%,
3/15/2031
148,000
134,081
4.63%,
1/31/2032
281,000
264,143
12,533,183
Independent
Power
and
Renewable
Electricity
Producers
—
0
.8
%
Lightning
Power
LLC
7.25%,
8/15/2032
(a)
862,000
895,927
Talen
Energy
Supply
LLC
8.63%,
6/1/2030
(a)
542,000
579,462
1,475,389
Insurance
—
4
.7
%
Acrisure
LLC
7.50%,
11/6/2030
(a)
489,000
504,823
Alliant
Holdings
Intermediate
LLC
6.75%,
4/15/2028
(a)
346,000
349,898
7.00%,
1/15/2031
(a)
1,107,000
1,127,936
FEBRUARY
28,
2025
(Unaudited)
::
HIGH
YIELD-INTEREST
RATE
HEDGED
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
35
HYHG
::
Investments
Principal
Amount
Value
Corporate
Bonds
(continued)
Insurance
Ardonagh
Finco
Ltd.
7.75%,
2/15/2031
(a)
$
500,000
$
514,372
Ardonagh
Group
Finance
Ltd.
8.88%,
2/15/2032
(a)
789,000
819,527
Howden
UK
Refinance
plc
7.25%,
2/15/2031
(a)
608,000
618,889
HUB
International
Ltd.
7.25%,
6/15/2030
(a)
563,000
581,337
7.38%,
1/31/2032
(a)
1,707,000
1,752,406
Panther
Escrow
Issuer
LLC
7.13%,
6/1/2031
(a)
1,283,000
1,320,208
Ryan
Specialty
LLC
5.88%,
8/1/2032
(a)
844,000
839,311
8,428,707
Interactive
Media
&
Services
—
0
.3
%
Snap,
Inc.
6.88%,
3/1/2033
(a)
500,000
505,941
Machinery
—
1
.1
%
Chart
Industries,
Inc.
7.50%,
1/1/2030
(a)
646,000
674,937
Husky
Injection
Molding
Systems
Ltd.
9.00%,
2/15/2029
(a)
624,000
656,573
TK
Elevator
US
Newco,
Inc.
5.25%,
7/15/2027
(a)
721,000
713,781
2,045,291
Media
—
10
.2
%
Clear
Channel
Outdoor
Holdings,
Inc.
7.75%,
4/15/2028
(a)
155,000
144,246
7.50%,
6/1/2029
(a)
897,000
793,481
CSC
Holdings
LLC
11.75%,
1/31/2029
(a)
1,150,000
1,122,800
4.63%,
12/1/2030
(a)
999,000
531,527
Directv
Financing
LLC
5.88%,
8/15/2027
(a)
2,026,000
1,995,495
10.00%,
2/15/2031
(a)
500,000
490,791
DISH
Network
Corp.
11.75%,
11/15/2027
(a)
2,173,000
2,292,888
EchoStar
Corp.
10.75%,
11/30/2029
1,123,000
1,204,256
Gray
Media,
Inc.
10.50%,
7/15/2029
(a)
521,000
538,090
5.38%,
11/15/2031
(a)
918,000
533,110
Neptune
Bidco
US,
Inc.
9.29%,
4/15/2029
(a)
1,201,000
1,075,924
Nexstar
Media,
Inc.
4.75%,
11/1/2028
(a)
455,000
431,097
Paramount
Global
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
4.00%),
6.38%,
3/30/2062
(b)
542,000
528,190
Investments
Principal
Amount
Value
Corporate
Bonds
(continued)
Media
Radiate
Holdco
LLC
6.50%,
9/15/2028
(a)
$
450,000
$
314,186
Sinclair
Television
Group,
Inc.
8.13%,
2/15/2033
(a)
500,000
494,707
Sirius
XM
Radio
LLC
4.00%,
7/15/2028
(a)
1,420,000
1,333,815
3.88%,
9/1/2031
(a)
285,000
247,182
Stagwell
Global
LLC
5.63%,
8/15/2029
(a)
759,000
735,262
Sunrise
FinCo.
I
BV
4.88%,
7/15/2031
(a)
586,000
546,905
TEGNA,
Inc.
4.63%,
3/15/2028
296,000
282,752
5.00%,
9/15/2029
750,000
709,211
Univision
Communications,
Inc.
6.63%,
6/1/2027
(a)
693,000
694,433
8.00%,
8/15/2028
(a)
782,000
794,295
VZ
Secured
Financing
BV
5.00%,
1/15/2032
(a)
598,000
527,239
18,361,882
Metals
&
Mining
—
1
.3
%
Cleveland-Cliffs,
Inc.
7.00%,
3/15/2032
(a)
780,000
783,384
First
Quantum
Minerals
Ltd.
6.88%,
10/15/2027
(a)
1,012,000
1,019,725
9.38%,
3/1/2029
(a)
485,000
517,480
2,320,589
Oil,
Gas
&
Consumable
Fuels
—
8
.4
%
Aethon
United
BR
LP
7.50%,
10/1/2029
(a)
566,000
583,752
CITGO
Petroleum
Corp.
8.38%,
1/15/2029
(a)
450,000
464,097
Civitas
Resources,
Inc.
8.38%,
7/1/2028
(a)
500,000
520,332
8.75%,
7/1/2031
(a)
797,000
833,382
Comstock
Resources,
Inc.
6.75%,
3/1/2029
(a)
529,000
521,180
CQP
Holdco
LP
5.50%,
6/15/2031
(a)
789,000
764,445
Crescent
Energy
Finance
LLC
7.63%,
4/1/2032
(a)
558,000
559,303
7.38%,
1/15/2033
(a)
489,000
480,347
Delek
Logistics
Partners
LP
8.63%,
3/15/2029
(a)
536,000
562,749
DT
Midstream,
Inc.
4.38%,
6/15/2031
(a)
1,045,000
970,543
Hilcorp
Energy
I
LP
7.25%,
2/15/2035
(a)
725,000
711,788
ITT
Holdings
LLC
6.50%,
8/1/2029
(a)
711,000
677,343
Kinetik
Holdings
LP
5.88%,
6/15/2030
(a)
356,000
355,012
New
Fortress
Energy,
Inc.
6.50%,
9/30/2026
(a)
628,000
591,653
HIGH
YIELD-INTEREST
RATE
HEDGED
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
36
HYHG
::
Investments
Principal
Amount
Value
Corporate
Bonds
(continued)
Oil,
Gas
&
Consumable
Fuels
NFE
Financing
LLC
12.00%,
11/15/2029
(a)
$
721,000
$
712,499
NGL
Energy
Operating
LLC
8.38%,
2/15/2032
(a)
751,000
762,978
Permian
Resources
Operating
LLC
7.00%,
1/15/2032
(a)
450,000
462,220
6.25%,
2/1/2033
(a)
606,000
609,706
Tullow
Oil
plc
10.25%,
5/15/2026
(a)
625,000
560,937
Venture
Global
LNG,
Inc.
9.50%,
2/1/2029
(a)
1,300,000
1,435,548
8.38%,
6/1/2031
(a)
1,382,000
1,439,573
Vital
Energy,
Inc.
7.88%,
4/15/2032
(a)(c)
451,000
434,756
15,014,143
Passenger
Airlines
—
2
.0
%
American
Airlines,
Inc.
5.75%,
4/20/2029
(a)
1,735,000
1,726,820
8.50%,
5/15/2029
(a)
301,000
317,199
JetBlue
Airways
Corp.
9.88%,
9/20/2031
(a)
1,001,000
1,059,756
VistaJet
Malta
Finance
plc
6.38%,
2/1/2030
(a)(c)
452,000
407,882
3,511,657
Pharmaceuticals
—
2
.2
%
Bausch
Health
Cos.,
Inc.
4.88%,
6/1/2028
(a)
1,081,000
937,768
11.00%,
9/30/2028
(a)
745,000
746,192
Endo
Finance
Holdings,
Inc.
8.50%,
4/15/2031
(a)
411,000
440,515
Organon
&
Co.
4.13%,
4/30/2028
(a)
894,000
850,443
5.13%,
4/30/2031
(a)(c)
1,155,000
1,050,221
4,025,139
Professional
Services
—
0
.3
%
Amentum
Holdings,
Inc.
7.25%,
8/1/2032
(a)
529,000
539,880
Software
—
4
.1
%
AthenaHealth
Group,
Inc.
6.50%,
2/15/2030
(a)
1,244,000
1,207,460
Cloud
Software
Group,
Inc.
6.50%,
3/31/2029
(a)
2,511,000
2,466,050
9.00%,
9/30/2029
(a)
1,170,000
1,195,843
McAfee
Corp.
7.38%,
2/15/2030
(a)
1,039,000
1,013,002
UKG,
Inc.
6.88%,
2/1/2031
(a)
1,420,000
1,457,425
7,339,780
Investments
Principal
Amount
Value
Corporate
Bonds
(continued)
Specialized
REITs
—
1
.4
%
Iron
Mountain,
Inc.
REIT,
5.25%,
7/15/2030
(a)
$
1,211,000
$
1,168,915
SBA
Communications
Corp.
REIT,
3.88%,
2/15/2027
810,000
789,253
REIT,
3.13%,
2/1/2029
665,000
609,560
2,567,728
Specialty
Retail
—
2
.1
%
eG
Global
Finance
plc
12.00%,
11/30/2028
(a)
450,000
504,639
LCM
Investments
Holdings
II
LLC
4.88%,
5/1/2029
(a)
471,000
448,903
Michaels
Cos.,
Inc.
(The)
7.88%,
5/1/2029
(a)
749,000
453,953
PetSmart,
Inc.
4.75%,
2/15/2028
(a)
622,000
591,709
7.75%,
2/15/2029
(a)
503,000
486,675
Staples,
Inc.
10.75%,
9/1/2029
(a)
1,330,000
1,270,284
3,756,163
Trading
Companies
&
Distributors
—
2
.5
%
Fortress
Transportation
and
Infrastructure
Investors
LLC
5.50%,
5/1/2028
(a)
465,000
458,684
H&E
Equipment
Services,
Inc.
3.88%,
12/15/2028
(a)
834,000
833,549
Imola
Merger
Corp.
4.75%,
5/15/2029
(a)
826,000
794,509
United
Rentals
North
America,
Inc.
3.88%,
2/15/2031
135,000
123,396
6.13%,
3/15/2034
(a)
1,617,000
1,635,233
WESCO
Distribution,
Inc.
7.25%,
6/15/2028
(a)
614,000
624,571
4,469,942
Wireless
Telecommunication
Services
—
1
.8
%
Connect
Finco
SARL
9.00%,
9/15/2029
(a)
976,000
894,668
Rogers
Communications,
Inc.
Series
NC5,
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.65%),
7.00%,
4/15/2055
(b)
500,000
501,256
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.62%),
7.13%,
4/15/2055
(b)
500,000
501,381
Vmed
O2
UK
Financing
I
plc
4.25%,
1/31/2031
(a)
834,000
723,363
4.75%,
7/15/2031
(a)
630,000
552,261
3,172,929
Total
Corporate
Bonds
(Cost
$169,765,010)
171,239,974
FEBRUARY
28,
2025
(Unaudited)
::
HIGH
YIELD-INTEREST
RATE
HEDGED
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
37
HYHG
::
Investments
Shares
Value
Securities
Lending
Reinvestments
(d)
—
1
.7
%
Investment
Companies
—
1
.7
%
Invesco
Government
&
Agency
Portfolio,
Institutional
Class
4.29%
(e)
(Cost
$3,005,058)
3,005,058
$
3,005,058
Principal
Amount
Short-Term
Investments
—
2
.5
%
Repurchase
Agreements
(f)
—
2
.5
%
Repurchase
Agreements
with
various
counterparties,
rates
4.15%
-
4.36%,
dated
2/28/2025,
due
3/3/2025,
total
to
be
received
$4,551,084
(Cost
$4,549,444)
$
4,549,444
4,549,444
Total
Investments
—
99.5%
(Cost
$177,319,512)
178,794,476
Other
assets
less
liabilities
—
0.5%
833,983
Net
Assets
—
100.0%
$
179,628,459
‡
Value
determined
using
significant
unobservable
inputs.
(a)
Securities
exempt
from
registration
under
Rule
144A
or
section
4(2),
of
the
Securities
Act
of
1933.
Under
procedures
approved
by
the
Board
of
Trustees,
such
securities
have
been
determined
to
be
liquid
by
the
investment
adviser
and
may
be
resold,
normally
to
qualified
institutional
buyers
in
transactions
exempt
from
registration.The
aggregate
value
of
these
securities
as
of
February
28,
2025
was
$156,275,683
which
represents
87.00%
of
net
assets.
(b)
Variable
or
floating
rate
security,
linked
to
the
referenced
benchmark.
The
interest
rate
shown
is
the
rate
in
effect
as
of
February
28,
2025.
(c)
The
security
or
a
portion
of
this
security
is
on
loan
at
February
28,
2025.
The
total
value
of
securities
on
loan
at
February
28,
2025
was
$3,687,797,
collateralized
in
the
form
of
cash
with
a
value
of
$3,005,058
that
was
reinvested
in
the
securities
shown
in
the
Securities
Lending
Reinvestment
section
of
the
Schedule
of
Portfolio
Investments
and
$847,299
of
collateral
in
the
form
of
U.S.
Government
Treasury
Securities,
interest
rates
ranging
from
0.63%
–
4.63%,
and
maturity
dates
ranging
from
April
15,
2026
–
August
15,
2053.
The
total
value
of
collateral
is
$3,852,357.
(d)
The
security
was
purchased
with
cash
collateral
held
from
securities
on
loan
at
February
28,
2025.
The
total
value
of
securities
purchased
was
$3,005,058.
(e)
Rate
shown
is
the
7-day
yield
as
of
February
28,
2025.
(f)
The
Fund
invests
in
Repurchase
Agreements
jointly
with
other
funds
in
the
Trust.
See
"Repurchase
Agreements"
in
the
Notes
to
Schedules
of
Portfolio
Investments
to
view
the
details
of
each
individual
agreement
and
counterparty
as
well
as
a
description
of
the
securities
subject
to
repurchase.
Abbreviations
REIT
Real
Estate
Investment
Trust
Futures
Contracts
Sold
High
Yield-Interest
Rate
Hedged
had
the
following
open
short
futures
contracts
as
of
February
28,
2025:
Number
of
Contracts
A
Expiration
Date
A
Trading
Currency
A
Notional
Amount
A
Value
and
Unrealized
Depreciation
A
U.S.
Treasury
10
Year
Note
159
6/18/2025
U.S.
Dollar
$
17,663,906
$
(
88,626
)
U.S.
Treasury
2
Year
Note
261
6/30/2025
U.S.
Dollar
54,018,844
(
104,486
)
U.S.
Treasury
5
Year
Note
933
6/30/2025
U.S.
Dollar
100,705,688
(
424,823
)
$
(
617,935
)
INFLATION
EXPECTATIONS
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
38
RINF
::
Investments
Principal
Amount
Value
Short-Term
Investments
—
95
.1
%
Repurchase
Agreements
(a)
—
95
.1
%
Repurchase
Agreements
with
various
counterparties,
rates
4.15%
-
4.36%,
dated
2/28/2025,
due
3/3/2025,
total
to
be
received
$22,095,558
(Cost
$22,087,589)
$
22,087,589
$
22,087,589
Total
Investments
—
95.1%
(Cost
$22,087,589)
22,087,589
Other
assets
less
liabilities
—
4.9%
1,140,750
Net
Assets
—
100.0%
$
23,228,339
(a)
The
Fund
invests
in
Repurchase
Agreements
jointly
with
other
funds
in
the
Trust.
See
"Repurchase
Agreements"
in
the
Notes
to
Schedules
of
Portfolio
Investments
to
view
the
details
of
each
individual
agreement
and
counterparty
as
well
as
a
description
of
the
securities
subject
to
repurchase.
Swap
Agreements
Inflation
Expectations
ETF
had
the
following
open
non-exchange
traded
total
return
swap
agreements
as
of
February
28,
2025:
Notional
Amount  
($)
Termination
Date
a
Counterparty
Rate
Paid
(Received)
b
Reference
Instrument
Value
and
Unrealized
Appreciation
/
(Depreciation)
($)
4,655,161
12/11/2025
Citibank
NA
4.24%
FTSE
30-Year
TIPS
(Treasury
Rate-Hedged)
Index
(long
exposure
to
30-year
Treasury
Inflation-Protected
Securities
(TIPS)
bond)
c
(
128,016
)
5,449,919
12/11/2025
Citibank
NA
4.21%
FTSE
30-Year
TIPS
(Treasury
Rate-Hedged)
Index
(long
exposure
to
30-year
Treasury
Bond
inverse
index)
c
70,815
10,105,080
(
57,201
)
18,543,035
11/6/2025
Societe
Generale
4.36%
FTSE
30-Year
TIPS
(Treasury
Rate-Hedged)
Index
(long
exposure
to
30-year
Treasury
Inflation-Protected
Securities
(TIPS)
bond)
c
31,419
25,799,933
11/6/2025
Societe
Generale
4.18%
FTSE
30-Year
TIPS
(Treasury
Rate-Hedged)
Index
(long
exposure
to
30-year
Treasury
Bond
inverse
index)
c
(
410,246
)
44,342,968
(
378,827
)
54,448,048
(
436,028
)
Total
Unrealized
Appreciation
102,234
Total
Unrealized
Depreciation
(
538,262
)
a
Agreements
may
be
terminated
at
will
by
either
party
without
penalty.
Payment
is
due
at
termination/maturity.
b
Reflects
the
floating
financing
rate,
as
of
February
28,
2025,
on
the
notional
amount
of
the
swap
agreement
paid
to
the
counterparty
or
received
from
the
counterparty,
excluding
any
commissions.
This
amount
is
included
as
part
of
the
unrealized
appreciation/(depreciation).
c
Certain
underlying
component
disclosures
related
to
this
index
may
be
found
on
the
website
at
www.proshares.com/media/FTSE30-Year_
TIPS_February.pdf.
FEBRUARY
28,
2025
(Unaudited)
::
INVESTMENT
GRADE-INTEREST
RATE
HEDGED
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
39
IGHG
::
Investments
Principal
Amount
Value
Corporate
Bonds
—
93
.9
%
Aerospace
&
Defense
—
2
.2
%
GE
Capital
International
Funding
Co.
ULC.
4.42%,
11/15/2035
$
963,000
$
915,888
General
Electric
Co.
6.75%,
3/15/2032
1,405,000
1,566,256
Lockheed
Martin
Corp.
4.07%,
12/15/2042
921,000
783,541
RTX
Corp.
4.50%,
6/1/2042
3,283,000
2,908,821
6,174,506
Air
Freight
&
Logistics
—
0
.5
%
United
Parcel
Service,
Inc.
6.20%,
1/15/2038
1,389,000
1,519,335
Automobiles
—
2
.5
%
Ford
Motor
Co.
7.45%,
7/16/2031
1,632,000
1,758,557
4.75%,
1/15/2043
815,000
633,080
General
Motors
Co.
6.25%,
10/2/2043
1,951,000
1,931,173
5.20%,
4/1/2045
670,000
584,331
Mercedes-Benz
Finance
North
America
LLC
8.50%,
1/18/2031
1,827,000
2,159,329
7,066,470
Banks
—
25
.5
%
Banco
Santander
SA
5.44%,
7/15/2031
1,900,000
1,944,775
6.92%,
8/8/2033
2,458,000
2,640,201
6.94%,
11/7/2033
1,450,000
1,621,872
6.35%,
3/14/2034
1,148,000
1,188,620
6.03%,
1/17/2035
500,000
519,435
Bank
of
America
Corp.
6.11%,
1/29/2037
321,000
335,446
7.75%,
5/14/2038
1,934,000
2,306,456
5.88%,
2/7/2042
3,867,000
4,110,742
Bank
of
America
NA
6.00%,
10/15/2036
1,642,000
1,729,847
Barclays
plc
5.25%,
8/17/2045
2,116,000
2,035,413
4.95%,
1/10/2047
696,000
635,854
Citigroup,
Inc.
6.63%,
6/15/2032
1,586,000
1,712,263
8.13%,
7/15/2039
676,000
845,483
6.68%,
9/13/2043
2,037,000
2,248,974
4.65%,
7/30/2045
1,151,000
1,028,734
4.75%,
5/18/2046
1,970,000
1,725,162
Cooperatieve
Rabobank
UA
5.25%,
5/24/2041
1,550,000
1,549,268
5.75%,
12/1/2043
1,495,000
1,534,322
5.25%,
8/4/2045
614,000
597,309
Fifth
Third
Bancorp
8.25%,
3/1/2038
1,072,000
1,314,453
Investments
Principal
Amount
Value
Corporate
Bonds
(continued)
Banks
HSBC
Holdings
plc
6.50%,
5/2/2036
$
1,228,000
$
1,317,195
6.50%,
9/15/2037
2,584,000
2,778,633
5.25%,
3/14/2044
518,000
490,968
JPMorgan
Chase
&
Co.
6.40%,
5/15/2038
2,460,000
2,735,099
5.50%,
10/15/2040
4,008,000
4,084,446
4.95%,
6/1/2045
1,222,000
1,132,977
Lloyds
Banking
Group
plc
4.34%,
1/9/2048
1,414,000
1,130,534
Mitsubishi
UFJ
Financial
Group,
Inc.
3.75%,
7/18/2039
1,185,000
1,021,333
Mizuho
Financial
Group,
Inc.
2.56%,
9/13/2031
908,000
779,755
Royal
Bank
of
Canada
2.30%,
11/3/2031
2,513,000
2,159,962
3.88%,
5/4/2032
300,000
281,409
5.00%,
2/1/2033
842,000
844,733
5.15%,
2/1/2034
1,310,000
1,323,185
Sumitomo
Mitsui
Financial
Group,
Inc.
2.22%,
9/17/2031
(a)
199,000
169,716
5.77%,
1/13/2033
2,921,000
3,055,912
5.56%,
7/9/2034
1,971,000
2,028,983
6.18%,
7/13/2043
1,257,000
1,377,319
5.84%,
7/9/2044
424,000
440,051
Toronto-Dominion
Bank
(The)
3.20%,
3/10/2032
1,901,000
1,699,322
4.46%,
6/8/2032
1,485,000
1,433,334
Wells
Fargo
&
Co.
5.38%,
11/2/2043
300,000
287,999
5.61%,
1/15/2044
1,731,000
1,702,123
4.65%,
11/4/2044
1,452,000
1,262,463
3.90%,
5/1/2045
300,000
239,787
4.90%,
11/17/2045
2,076,000
1,856,815
4.75%,
12/7/2046
898,000
778,029
Wells
Fargo
Bank
NA
6.60%,
1/15/2038
965,000
1,069,150
Westpac
Banking
Corp.
2.15%,
6/3/2031
1,591,000
1,382,787
4.42%,
7/24/2039
358,000
326,108
2.96%,
11/16/2040
(a)
242,000
179,158
3.13%,
11/18/2041
1,257,000
928,273
71,922,187
Beverages
—
1
.7
%
Anheuser-Busch
InBev
Worldwide,
Inc.
4.95%,
1/15/2042
1,519,000
1,445,592
Coca-Cola
Co.
(The)
1.38%,
3/15/2031
350,000
293,270
2.50%,
6/1/2040
1,364,000
987,634
3.00%,
3/5/2051
1,453,000
987,871
2.50%,
3/15/2051
101,000
61,428
Molson
Coors
Beverage
Co.
5.00%,
5/1/2042
1,028,000
959,479
4,735,274
INVESTMENT
GRADE-INTEREST
RATE
HEDGED
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
40
IGHG
::
Investments
Principal
Amount
Value
Corporate
Bonds
(continued)
Biotechnology
—
0
.8
%
AbbVie,
Inc.
4.40%,
11/6/2042
$
2,668,000
$
2,391,432
Capital
Markets
—
6
.5
%
Goldman
Sachs
Group,
Inc.
(The)
6.13%,
2/15/2033
788,000
851,734
6.75%,
10/1/2037
2,011,000
2,195,987
6.25%,
2/1/2041
3,247,000
3,481,482
5.15%,
5/22/2045
2,395,000
2,240,258
Morgan
Stanley
6.38%,
7/24/2042
450,000
496,305
4.30%,
1/27/2045
2,146,000
1,835,149
4.38%,
1/22/2047
4,146,000
3,550,609
Nomura
Holdings,
Inc.
2.61%,
7/14/2031
1,332,000
1,157,276
5.78%,
7/3/2034
716,000
739,231
UBS
Group
AG
4.88%,
5/15/2045
1,869,000
1,701,293
18,249,324
Communications
Equipment
—
1
.6
%
Cisco
Systems,
Inc.
5.90%,
2/15/2039
3,232,000
3,485,184
5.50%,
1/15/2040
899,000
926,972
4,412,156
Consumer
Finance
—
2
.7
%
Ally
Financial,
Inc.
8.00%,
11/1/2031
2,286,000
2,581,632
American
Express
Co.
4.05%,
12/3/2042
1,026,000
876,572
John
Deere
Capital
Corp.
4.40%,
9/8/2031
588,000
580,032
Series
I,
5.15%,
9/8/2033
1,401,000
1,430,983
5.10%,
4/11/2034
1,099,000
1,115,783
Toyota
Motor
Credit
Corp.
5.55%,
11/20/2030
1,030,000
1,076,285
7,661,287
Consumer
Staples
Distribution
&
Retail
—
0
.9
%
Target
Corp.
4.00%,
7/1/2042
1,013,000
870,790
Walmart,
Inc.
5.25%,
9/1/2035
561,000
589,603
6.50%,
8/15/2037
1,010,000
1,166,837
2,627,230
Diversified
Telecommunication
Services
—
5
.5
%
Sprint
Capital
Corp.
8.75%,
3/15/2032
2,520,000
3,031,782
Telefonica
Emisiones
SA
7.05%,
6/20/2036
2,108,000
2,358,270
5.21%,
3/8/2047
2,171,000
1,969,677
4.90%,
3/6/2048
1,217,000
1,050,327
Investments
Principal
Amount
Value
Corporate
Bonds
(continued)
Diversified
Telecommunication
Services
Verizon
Communications,
Inc.
4.50%,
8/10/2033
$
3,065,000
$
2,948,163
4.27%,
1/15/2036
1,209,000
1,115,948
5.25%,
3/16/2037
1,039,000
1,042,613
4.81%,
3/15/2039
699,000
659,908
4.86%,
8/21/2046
453,000
415,134
4.52%,
9/15/2048
1,180,000
1,018,044
15,609,866
Electric
Utilities
—
1
.0
%
Duke
Energy
Florida
LLC
6.40%,
6/15/2038
1,604,000
1,770,240
Georgia
Power
Co.
4.30%,
3/15/2042
1,217,000
1,055,540
2,825,780
Electrical
Equipment
—
0
.2
%
Eaton
Corp.
4.15%,
11/2/2042
769,000
666,792
Energy
Equipment
&
Services
—
0
.4
%
Baker
Hughes
Holdings
LLC
5.13%,
9/15/2040
1,134,000
1,112,787
Entertainment
—
1
.5
%
TWDC
Enterprises
18
Corp.
4.13%,
6/1/2044
851,000
717,880
Walt
Disney
Co.
(The)
2.65%,
1/13/2031
1,536,000
1,380,354
6.65%,
11/15/2037
1,771,000
2,011,423
4,109,657
Financial
Services
—
1
.6
%
Berkshire
Hathaway,
Inc.
4.50%,
2/11/2043
471,000
440,596
Shell
International
Finance
BV
6.38%,
12/15/2038
1,975,000
2,212,627
5.50%,
3/25/2040
1,775,000
1,830,293
4,483,516
Food
Products
—
0
.9
%
Kraft
Heinz
Foods
Co.
5.00%,
6/4/2042
1,628,000
1,503,005
Unilever
Capital
Corp.
5.90%,
11/15/2032
859,000
927,977
2,430,982
Health
Care
Equipment
&
Supplies
—
0
.9
%
Medtronic,
Inc.
4.38%,
3/15/2035
952,000
918,292
4.63%,
3/15/2045
1,830,000
1,668,142
2,586,434
FEBRUARY
28,
2025
(Unaudited)
::
INVESTMENT
GRADE-INTEREST
RATE
HEDGED
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
41
IGHG
::
Investments
Principal
Amount
Value
Corporate
Bonds
(continued)
Health
Care
Providers
&
Services
—
2
.0
%
Ascension
Health
3.95%,
11/15/2046
$
1,443,000
$
1,199,560
Elevance
Health,
Inc.
4.65%,
1/15/2043
1,016,000
902,423
UnitedHealth
Group,
Inc.
4.63%,
7/15/2035
864,000
835,337
6.88%,
2/15/2038
2,353,000
2,711,188
4.75%,
7/15/2045
(a)
148,000
133,613
5,782,121
Household
Products
—
0
.7
%
Procter
&
Gamble
Co.
(The)
1.20%,
10/29/2030
1,869,000
1,575,622
1.95%,
4/23/2031
438,000
382,881
1,958,503
Insurance
—
1
.0
%
MetLife,
Inc.
5.70%,
6/15/2035
650,000
682,344
4.88%,
11/13/2043
2,077,000
1,931,933
4.05%,
3/1/2045
158,000
130,467
2,744,744
IT
Services
—
1
.4
%
International
Business
Machines
Corp.
4.15%,
5/15/2039
723,000
635,400
4.00%,
6/20/2042
751,000
626,560
4.25%,
5/15/2049
3,272,000
2,692,159
3,954,119
Machinery
—
0
.5
%
Caterpillar,
Inc.
3.80%,
8/15/2042
1,702,000
1,418,675
Media
—
3
.4
%
Comcast
Corp.
4.25%,
1/15/2033
1,569,000
1,486,985
Paramount
Global
6.88%,
4/30/2036
607,000
635,322
4.38%,
3/15/2043
2,140,000
1,628,203
Time
Warner
Cable
Enterprises
LLC
8.38%,
7/15/2033
1,785,000
2,049,971
Time
Warner
Cable
LLC
6.55%,
5/1/2037
1,572,000
1,563,396
7.30%,
7/1/2038
140,000
147,722
6.75%,
6/15/2039
2,107,000
2,123,766
9,635,365
Metals
&
Mining
—
3
.3
%
BHP
Billiton
Finance
USA
Ltd.
4.13%,
2/24/2042
1,183,000
1,021,312
5.00%,
9/30/2043
2,282,000
2,179,113
Rio
Tinto
Finance
USA
Ltd.
5.20%,
11/2/2040
1,670,000
1,646,882
Investments
Principal
Amount
Value
Corporate
Bonds
(continued)
Metals
&
Mining
Southern
Copper
Corp.
6.75%,
4/16/2040
$
1,196,000
$
1,299,523
5.25%,
11/8/2042
744,000
687,437
5.88%,
4/23/2045
1,498,000
1,473,866
Vale
Overseas
Ltd.
6.88%,
11/10/2039
981,000
1,090,893
9,399,026
Multi-Utilities
—
0
.4
%
Berkshire
Hathaway
Energy
Co.
6.13%,
4/1/2036
996,000
1,062,800
Oil,
Gas
&
Consumable
Fuels
—
7
.1
%
Canadian
Natural
Resources
Ltd.
6.25%,
3/15/2038
1,204,000
1,259,963
ConocoPhillips
6.50%,
2/1/2039
1,617,000
1,804,579
Hess
Corp.
5.60%,
2/15/2041
989,000
997,968
Kinder
Morgan
Energy
Partners
LP
6.95%,
1/15/2038
1,602,000
1,773,584
Kinder
Morgan,
Inc.
7.75%,
1/15/2032
1,627,000
1,859,725
Occidental
Petroleum
Corp.
6.45%,
9/15/2036
1,921,000
2,006,238
Phillips
66
5.88%,
5/1/2042
1,413,000
1,427,502
Shell
Finance
US,
Inc.
4.38%,
5/11/2045
3,021,000
2,607,712
4.00%,
5/10/2046
1,202,000
972,622
TransCanada
PipeLines
Ltd.
6.20%,
10/15/2037
2,122,000
2,224,049
7.63%,
1/15/2039
250,000
293,163
Valero
Energy
Corp.
6.63%,
6/15/2037
1,384,000
1,497,004
Williams
Cos.,
Inc.
(The)
6.30%,
4/15/2040
1,344,000
1,425,521
20,149,630
Pharmaceuticals
—
7
.0
%
AstraZeneca
plc
4.00%,
9/18/2042
4,132,000
3,547,226
4.38%,
11/16/2045
1,820,000
1,598,872
GlaxoSmithKline
Capital,
Inc.
6.38%,
5/15/2038
2,688,000
2,986,790
Johnson
&
Johnson
5.95%,
8/15/2037
1,533,000
1,688,680
Merck
&
Co.,
Inc.
4.15%,
5/18/2043
1,294,000
1,114,253
Novartis
Capital
Corp.
4.40%,
5/6/2044
1,658,000
1,493,648
Pfizer,
Inc.
4.00%,
12/15/2036
2,897,000
2,653,130
7.20%,
3/15/2039
2,336,000
2,780,477
4.13%,
12/15/2046
771,000
641,350
INVESTMENT
GRADE-INTEREST
RATE
HEDGED
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
42
IGHG
::
Investments
Principal
Amount
Value
Corporate
Bonds
(continued)
Pharmaceuticals
Wyeth
LLC
5.95%,
4/1/2037
$
1,242,000
$
1,321,448
19,825,874
Software
—
1
.6
%
Oracle
Corp.
6.50%,
4/15/2038
3,801,000
4,130,722
6.13%,
7/8/2039
354,000
373,193
4,503,915
Specialty
Retail
—
1
.0
%
Home
Depot,
Inc.
(The)
5.88%,
12/16/2036
2,520,000
2,704,929
Technology
Hardware,
Storage
&
Peripherals
—
2
.2
%
Apple,
Inc.
3.85%,
5/4/2043
400,000
339,317
4.45%,
5/6/2044
393,000
366,539
3.45%,
2/9/2045
4,657,000
3,654,851
4.38%,
5/13/2045
689,000
620,191
HP,
Inc.
6.00%,
9/15/2041
1,166,000
1,192,011
6,172,909
Tobacco
—
2
.0
%
Altria
Group,
Inc.
5.38%,
1/31/2044
2,852,000
2,765,387
Philip
Morris
International,
Inc.
6.38%,
5/16/2038
2,322,000
2,561,971
4.25%,
11/10/2044
562,000
475,641
5,802,999
Wireless
Telecommunication
Services
—
3
.4
%
America
Movil
SAB
de
CV
6.13%,
3/30/2040
1,965,000
2,079,339
4.38%,
7/16/2042
1,098,000
948,375
Telefonica
Europe
BV
8.25%,
9/15/2030
1,724,000
1,984,943
Vodafone
Group
plc
6.15%,
2/27/2037
2,298,000
2,449,151
5.25%,
5/30/2048
446,000
417,245
4.88%,
6/19/2049
234,000
203,746
4.25%,
9/17/2050
2,094,000
1,646,672
9,729,471
Total
Corporate
Bonds
(Cost
$260,581,716)
265,430,095
Asset-Backed
Securities
-
0
.4
%
United
Airlines
Pass-Through
Trust
Series
2023-1,
Class
A,
5.80%,
1/15/2036
(Cost
$1,121,973)
1,106,254
1,131,476
Investments
Shares
Value
Securities
Lending
Reinvestments
(b)
—
0
.1
%
Investment
Companies
—
0
.1
%
Invesco
Government
&
Agency
Portfolio,
Institutional
Class
4.29%
(c)
(Cost
$186,743)
186,743
$
186,743
Principal
Amount
Short-Term
Investments
—
1
.2
%
Repurchase
Agreements
(d)
—
1
.2
%
Repurchase
Agreements
with
various
counterparties,
rates
4.15%
-
4.36%,
dated
2/28/2025,
due
3/3/2025,
total
to
be
received
$3,423,453
(Cost
$3,422,217)
$
3,422,217
3,422,217
Total
Investments
—
95.6%
(Cost
$265,312,649)
270,170,531
Other
assets
less
liabilities
—
4.4%
12,318,050
Net
Assets
—
100.0%
$
282,488,581
(a)
The
security
or
a
portion
of
this
security
is
on
loan
at
February
28,
2025.
The
total
value
of
securities
on
loan
at
February
28,
2025
was
$313,329,
collateralized
in
the
form
of
cash
with
a
value
of
$186,743
that
was
reinvested
in
the
securities
shown
in
the
Securities
Lending
Reinvestment
section
of
the
Schedule
of
Portfolio
Investments
and
$136,420
of
collateral
in
the
form
of
U.S.
Government
Treasury
Securities,
interest
rates
ranging
from
1.13%
–
1.25%,
and
maturity
dates
ranging
from
May
31,
2028
–
August
31,
2028.
The
total
value
of
collateral
is
$323,163.
(b)
The
security
was
purchased
with
cash
collateral
held
from
securities
on
loan
at
February
28,
2025.
The
total
value
of
securities
purchased
was
$186,743.
(c)
Rate
shown
is
the
7-day
yield
as
of
February
28,
2025.
(d)
The
Fund
invests
in
Repurchase
Agreements
jointly
with
other
funds
in
the
Trust.
See
"Repurchase
Agreements"
in
the
Notes
to
Schedules
of
Portfolio
Investments
to
view
the
details
of
each
individual
agreement
and
counterparty
as
well
as
a
description
of
the
securities
subject
to
repurchase.
FEBRUARY
28,
2025
(Unaudited)
::
INVESTMENT
GRADE-INTEREST
RATE
HEDGED
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
43
IGHG
::
Futures
Contracts
Sold
Investment
Grade-Interest
Rate
Hedged
had
the
following
open
short
futures
contracts
as
of
February
28,
2025:
Number
of
Contracts
A
Expiration
Date
A
Trading
Currency
A
Notional
Amount
A
Value
and
Unrealized
Depreciation
A
U.S.
Treasury
10
Year
Note
558
6/18/2025
U.S.
Dollar
$
61,990,313
$
(
305,106
)
U.S.
Treasury
Long
Bond
1,607
6/18/2025
U.S.
Dollar
189,776,656
(
1,154,842
)
U.S.
Treasury
Ultra
Bond
43
6/18/2025
U.S.
Dollar
5,337,375
(
26,772
)
$
(
1,486,720
)
K-1
FREE
CRUDE
OIL
ETF
::
FEBRUARY
28,
2025
(Unaudited)
CONSOLIDATED
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
44
OILK
::
Investments
Principal
Amount
Value
Short-Term
Investments
—
80
.4
%
Repurchase
Agreements
(a)
—
80
.4
%
Repurchase
Agreements
with
various
counterparties,
rates
4.15%
-
4.36%,
dated
2/28/2025,
due
3/3/2025,
total
to
be
received
$56,622,447
(Cost
$56,602,029)
$
56,602,029
$
56,602,029
Total
Investments
—
80.4%
(Cost
$56,602,029)
56,602,029
Other
assets
less
liabilities
—
19.6%
13,822,220
Net
Assets
—
100.0%
$
70,424,249
(a)
The
Fund
invests
in
Repurchase
Agreements
jointly
with
other
funds
in
the
Trust.
See
"Repurchase
Agreements"
in
the
Notes
to
Schedules
of
Portfolio
Investments
to
view
the
details
of
each
individual
agreement
and
counterparty
as
well
as
a
description
of
the
securities
subject
to
repurchase.
Futures
Contracts
Purchased
K-1
Free
Crude
Oil
ETF
had
the
following
open
long
futures
contracts
as
of
February
28,
2025:
Number
of
Contracts
AAAAAA
Expiration
Date
AAAAAA
Trading
Currency
AA
Notional
Amount
AAAAAA
Value
and
Unrealized
Appreciation
/
(Depreciation)
AAAAAA
WTI
Crude
Oil
335
4/22/2025
U.S.
Dollar
$
23,228,900
$
(
579,227
)
WTI
Crude
Oil
343
5/20/2025
U.S.
Dollar
23,622,410
167,496
WTI
Crude
Oil
349
11/20/2025
U.S.
Dollar
23,054,940
88,971
$
(
322,760
)
FEBRUARY
28,
2025
(Unaudited)
::
LARGE
CAP
CORE
PLUS
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
45
CSM
::
Investments
Shares
Value
Common
Stocks
(a)
—
94.9%
Aerospace
&
Defense
—
2.1%
General
Dynamics
Corp.
2,800
$
707,280
General
Electric
Co.
9,108
1,885,174
Howmet
Aerospace,
Inc.
13,530
1,848,198
Huntington
Ingalls
Industries,
Inc.
5,307
931,803
L3Harris
Technologies,
Inc.
842
173,545
Lockheed
Martin
Corp.
3,659
1,647,904
Northrop
Grumman
Corp.
3,869
1,786,472
Textron,
Inc.
13,540
1,011,844
9,992,220
Air
Freight
&
Logistics
—
0.2%
CH
Robinson
Worldwide,
Inc.
9,303
945,371
Automobile
Components
—
0.1%
BorgWarner,
Inc.
19,528
581,348
Automobiles
—
1.7%
Ford
Motor
Co.
177,763
1,697,637
General
Motors
Co.
33,387
1,640,303
Tesla,
Inc.*
16,322
4,782,019
8,119,959
Banks
—
2.0%
Bank
of
America
Corp.
15,750
726,075
Citizens
Financial
Group,
Inc.
16,977
777,037
Fifth
Third
Bancorp
13,965
607,059
Huntington
Bancshares,
Inc.
67,744
1,115,744
JPMorgan
Chase
&
Co.
14,021
3,710,658
M&T
Bank
Corp.
6,985
1,339,164
Regions
Financial
Corp.
8,096
191,956
Wells
Fargo
&
Co.
9,120
714,278
9,181,971
Beverages
—
1.3%
Coca-Cola
Co.
(The)
5,671
403,832
Constellation
Brands,
Inc.,
Class
a
A
6,984
1,225,692
Keurig
Dr
Pepper,
Inc.
45,361
1,520,501
Molson
Coors
Beverage
Co.,
Class
a
B
23,767
1,456,679
PepsiCo,
Inc.
9,689
1,486,971
6,093,675
Biotechnology
—
0.9%
AbbVie,
Inc.
4,717
985,994
Amgen,
Inc.
644
198,391
Biogen,
Inc.*
4,040
567,620
Incyte
Corp.*
8,786
645,771
Regeneron
Pharmaceuticals,
Inc.
2,459
1,718,202
4,115,978
Broadline
Retail
—
2.7%
Amazon.com,
Inc.*
58,575
12,434,301
eBay,
Inc.
5,553
359,501
12,793,802
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Building
Products
—
1.1%
A
O
Smith
Corp.
2,640
$
175,507
Allegion
plc
11,167
1,437,305
Builders
FirstSource,
Inc.*
9,703
1,348,620
Lennox
International,
Inc.
607
364,837
Masco
Corp.
2,624
197,272
Trane
Technologies
plc
4,962
1,755,060
5,278,601
Capital
Markets
—
4.1%
Ameriprise
Financial,
Inc.
3,293
1,769,329
Blackstone,
Inc.
4,751
765,671
Cboe
Global
Markets,
Inc.
7,329
1,544,953
Charles
Schwab
Corp.
(The)
6,411
509,867
CME
Group,
Inc.
8,206
2,082,437
FactSet
Research
Systems,
Inc.
428
197,625
Franklin
Resources,
Inc.
63,976
1,295,514
Invesco
Ltd.
77,200
1,342,508
MarketAxess
Holdings,
Inc.
2,689
518,412
Morgan
Stanley
1,330
177,036
MSCI,
Inc.,
Class
a
A
1,173
692,668
Northern
Trust
Corp.
13,963
1,539,002
Raymond
James
Financial,
Inc.
9,792
1,514,529
S&P
Global,
Inc.
4,731
2,525,124
State
Street
Corp.
16,118
1,599,389
T.
Rowe
Price
Group,
Inc.
13,432
1,420,031
19,494,095
Chemicals
—
2.2%
Air
Products
and
Chemicals,
Inc.
5,405
1,708,791
Celanese
Corp.,
Class
a
A
16,007
815,396
Dow,
Inc.
33,883
1,291,281
DuPont
de
Nemours,
Inc.
19,930
1,629,676
Eastman
Chemical
Co.
14,616
1,430,176
FMC
Corp.
28,972
1,069,067
Linde
plc
378
176,545
LyondellBasell
Industries
NV,
Class
a
A
17,999
1,382,863
PPG
Industries,
Inc.
8,875
1,004,827
10,508,622
Commercial
Services
&
Supplies
—
1.1%
Cintas
Corp.
9,107
1,889,703
Republic
Services,
Inc.,
Class
a
A
7,417
1,757,977
Rollins,
Inc.
24,520
1,284,603
4,932,283
Communications
Equipment
—
0.9%
Arista
Networks,
Inc.*
14,056
1,307,911
Cisco
Systems,
Inc.
4,703
301,509
F5,
Inc.*
4,912
1,436,416
Motorola
Solutions,
Inc.
2,198
967,604
4,013,440
Consumer
Finance
—
0.5%
Discover
Financial
Services
4,120
804,183
LARGE
CAP
CORE
PLUS
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
46
CSM
::
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Synchrony
Financial
22,166
$
1,345,033
2,149,216
Consumer
Staples
Distribution
&
Retail
—
1.4%
Costco
Wholesale
Corp.
1,687
1,769,005
Kroger
Co.
(The)
25,935
1,681,107
Sysco
Corp.
3,038
229,490
Walgreens
Boots
Alliance,
Inc.
123,668
1,320,774
Walmart,
Inc.
15,831
1,561,095
6,561,471
Containers
&
Packaging
—
0.1%
International
Paper
Co.
10,906
614,553
Distributors
—
0.1%
LKQ
Corp.
9,771
412,238
Diversified
Telecommunication
Services
—
0.3%
AT&T,
Inc.
38,292
1,049,584
Verizon
Communications,
Inc.
6,030
259,893
1,309,477
Electric
Utilities
—
2.7%
Alliant
Energy
Corp.
6,934
447,451
Edison
International
30,049
1,635,868
Exelon
Corp.
39,692
1,754,386
FirstEnergy
Corp.
37,804
1,465,661
NRG
Energy,
Inc.
14,687
1,552,563
PG&E
Corp.
75,107
1,227,248
Pinnacle
West
Capital
Corp.
6,918
640,192
Southern
Co.
(The)
23,549
2,114,465
Xcel
Energy,
Inc.
24,101
1,737,682
12,575,516
Electrical
Equipment
—
1.2%
AMETEK,
Inc.
6,429
1,217,010
Eaton
Corp.
plc
6,603
1,936,792
GE
Vernova,
Inc.
2,290
767,562
Generac
Holdings,
Inc.*
1,819
247,657
Hubbell,
Inc.,
Class
a
B
3,873
1,439,168
5,608,189
Electronic
Equipment,
Instruments
&
Components
—
1.2%
Amphenol
Corp.,
Class
a
A
26,907
1,792,006
TE
Connectivity
plc
9,433
1,452,965
Teledyne
Technologies,
Inc.*
1,225
630,900
Trimble,
Inc.*
2,601
187,220
Zebra
Technologies
Corp.,
Class
a
A*
4,281
1,348,729
5,411,820
Energy
Equipment
&
Services
—
0.3%
Schlumberger
NV
31,115
1,296,251
Entertainment
—
0.9%
Electronic
Arts,
Inc.
6,537
844,057
Live
Nation
Entertainment,
Inc.*
6,971
999,363
Netflix,
Inc.*
1,516
1,486,529
Walt
Disney
Co.
(The)
4,581
521,318
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Warner
Bros
Discovery,
Inc.*
29,094
$
333,417
4,184,684
Financial
Services
—
2.4%
Berkshire
Hathaway,
Inc.,
Class
a
B*
9,482
4,872,136
Fidelity
National
Information
Services,
Inc.
3,612
256,885
Jack
Henry
&
Associates,
Inc.
3,439
596,976
Mastercard,
Inc.,
Class
a
A
3,244
1,869,550
PayPal
Holdings,
Inc.*
13,221
939,352
Visa,
Inc.,
Class
a
A
7,744
2,808,826
11,343,725
Food
Products
—
1.7%
Archer-Daniels-Midland
Co.
17,741
837,375
Bunge
Global
SA
20,875
1,548,716
Campbell's
Co.
(The)
10,234
409,974
Conagra
Brands,
Inc.
16,895
431,498
General
Mills,
Inc.
27,243
1,651,471
J
M
Smucker
Co.
(The)
7,850
867,661
Kraft
Heinz
Co.
(The)
16,803
516,020
McCormick
&
Co.,
Inc.
(Non-Voting)
3,535
292,026
Tyson
Foods,
Inc.,
Class
a
A
25,652
1,573,494
8,128,235
Ground
Transportation
—
0.7%
CSX
Corp.
31,423
1,005,850
Uber
Technologies,
Inc.*
32,391
2,462,040
3,467,890
Health
Care
Equipment
&
Supplies
—
2.5%
Abbott
Laboratories
2,379
328,326
Baxter
International,
Inc.
16,944
584,737
Becton
Dickinson
&
Co.
8,030
1,811,006
Dexcom,
Inc.*
3,232
285,612
GE
HealthCare
Technologies,
Inc.
6,243
545,326
Hologic,
Inc.*
6,942
440,053
IDEXX
Laboratories,
Inc.*
3,244
1,417,985
Insulet
Corp.*
1,552
422,563
Intuitive
Surgical,
Inc.*
764
437,887
Medtronic
plc
13,906
1,279,630
ResMed,
Inc.
6,475
1,512,042
Solventum
Corp.*
4,579
365,175
STERIS
plc
6,909
1,514,867
Teleflex,
Inc.
5,209
691,495
Zimmer
Biomet
Holdings,
Inc.
2,109
220,011
11,856,715
Health
Care
Providers
&
Services
—
2.7%
Cardinal
Health,
Inc.
12,494
1,617,723
Cencora,
Inc.
6,205
1,573,216
Centene
Corp.*
27,703
1,611,206
CVS
Health
Corp.
29,736
1,954,250
HCA
Healthcare,
Inc.
2,139
655,176
McKesson
Corp.
2,710
1,735,105
Molina
Healthcare,
Inc.*
1,507
453,788
UnitedHealth
Group,
Inc.
4,124
1,958,735
FEBRUARY
28,
2025
(Unaudited)
::
LARGE
CAP
CORE
PLUS
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
47
CSM
::
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Universal
Health
Services,
Inc.,
Class
a
B
7,653
$
1,341,188
12,900,387
Health
Care
REITs
—
0.9%
Alexandria
Real
Estate
Equities,
Inc.,
REIT
14,471
1,479,805
Healthpeak
Properties,
Inc.,
REIT
48,127
984,678
Ventas,
Inc.,
REIT
25,646
1,774,190
4,238,673
Hotel
&
Resort
REITs
—
0.3%
Host
Hotels
&
Resorts,
Inc.,
REIT
82,406
1,329,209
Hotels,
Restaurants
&
Leisure
—
2.2%
Airbnb,
Inc.,
Class
a
A*
2,852
396,057
Booking
Holdings,
Inc.
505
2,533,085
Carnival
Corp.*
59,240
1,417,613
Chipotle
Mexican
Grill,
Inc.,
Class
a
A*
3,420
184,577
McDonald's
Corp.
561
172,973
MGM
Resorts
International*
21,672
753,319
Norwegian
Cruise
Line
Holdings
Ltd.*
55,887
1,269,753
Royal
Caribbean
Cruises
Ltd.
7,106
1,748,787
Wynn
Resorts
Ltd.
18,723
1,672,338
10,148,502
Household
Durables
—
1.1%
DR
Horton,
Inc.
2,318
293,946
Garmin
Ltd.
2,401
549,661
Lennar
Corp.,
Class
a
A
10,439
1,248,817
NVR,
Inc.*
207
1,499,835
PulteGroup,
Inc.
14,373
1,484,443
5,076,702
Household
Products
—
0.9%
Church
&
Dwight
Co.,
Inc.
2,656
295,347
Clorox
Co.
(The)
1,726
269,929
Kimberly-Clark
Corp.
12,723
1,806,794
Procter
&
Gamble
Co.
(The)
10,099
1,755,610
4,127,680
Independent
Power
and
Renewable
Electricity
Producers
—
0.3%
AES
Corp.
(The)
141,038
1,634,630
Industrial
REITs
—
0.2%
Prologis,
Inc.,
REIT
9,003
1,115,652
Insurance
—
4.9%
Allstate
Corp.
(The)
9,152
1,822,621
Arch
Capital
Group
Ltd.
17,961
1,668,757
Assurant,
Inc.
6,738
1,400,763
Brown
&
Brown,
Inc.
14,423
1,709,702
Cincinnati
Financial
Corp.
11,051
1,633,448
Erie
Indemnity
Co.,
Class
a
A
3,257
1,394,224
Everest
Group
Ltd.
3,111
1,098,867
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Globe
Life,
Inc.
12,042
$
1,534,512
Hartford
Insurance
Group,
Inc.
(The)
13,077
1,546,748
Loews
Corp.
17,492
1,516,032
Marsh
&
McLennan
Cos.,
Inc.
808
192,175
MetLife,
Inc.
20,357
1,754,366
Principal
Financial
Group,
Inc.
5,834
519,459
Progressive
Corp.
(The)
9,383
2,646,006
Prudential
Financial,
Inc.
14,895
1,714,415
Travelers
Cos.,
Inc.
(The)
1,980
511,810
W
R
Berkley
Corp.
6,528
411,786
23,075,691
Interactive
Media
&
Services
—
4.0%
Alphabet,
Inc.,
Class
a
A
32,521
5,537,676
Alphabet,
Inc.,
Class
a
C
24,914
4,290,689
Match
Group,
Inc.
11,678
370,309
Meta
Platforms,
Inc.,
Class
a
A
12,847
8,584,366
18,783,040
IT
Services
—
1.0%
Accenture
plc,
Class
a
A
663
231,056
Akamai
Technologies,
Inc.*
9,787
789,615
Cognizant
Technology
Solutions
Corp.,
Class
a
A
19,124
1,593,603
EPAM
Systems,
Inc.*
2,007
413,723
GoDaddy,
Inc.,
Class
a
A*
7,592
1,362,764
International
Business
Machines
Corp.
798
201,447
4,592,208
Life
Sciences
Tools
&
Services
—
1.4%
Agilent
Technologies,
Inc.
4,964
634,995
Charles
River
Laboratories
International,
Inc.*
5,757
951,690
Danaher
Corp.
7,343
1,525,582
IQVIA
Holdings,
Inc.*
5,431
1,025,373
Mettler-Toledo
International,
Inc.*
756
962,176
Revvity,
Inc.
12,774
1,432,604
Thermo
Fisher
Scientific,
Inc.
319
168,738
6,701,158
Machinery
—
2.8%
Fortive
Corp.
19,731
1,569,404
Illinois
Tool
Works,
Inc.
7,209
1,903,032
Ingersoll
Rand,
Inc.
14,313
1,213,456
Otis
Worldwide
Corp.
15,498
1,546,390
Parker-Hannifin
Corp.
2,919
1,951,381
Pentair
plc
14,505
1,366,371
Snap-on,
Inc.
3,356
1,144,967
Stanley
Black
&
Decker,
Inc.
14,691
1,271,212
Westinghouse
Air
Brake
Technologies
Corp.
6,026
1,116,979
13,083,192
Media
—
0.9%
Comcast
Corp.,
Class
a
A
15,376
551,691
Fox
Corp.,
Class
a
A
25,851
1,489,018
News
Corp.,
Class
a
A
7,380
211,216
LARGE
CAP
CORE
PLUS
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
48
CSM
::
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Omnicom
Group,
Inc.
10,581
$
875,683
Paramount
Global,
Class
a
B
81,973
931,213
4,058,821
Metals
&
Mining
—
0.6%
Freeport-McMoRan,
Inc.
32,667
1,205,739
Newmont
Corp.
38,352
1,643,000
2,848,739
Multi-Utilities
—
0.7%
CenterPoint
Energy,
Inc.
47,412
1,630,024
DTE
Energy
Co.
12,561
1,679,406
3,309,430
Oil,
Gas
&
Consumable
Fuels
—
2.7%
APA
Corp.
55,450
1,147,815
Chevron
Corp.
2,480
393,377
ConocoPhillips
22,472
2,228,099
Devon
Energy
Corp.
36,451
1,320,255
Exxon
Mobil
Corp.
19,930
2,218,807
Hess
Corp.
4,581
682,294
Marathon
Petroleum
Corp.
4,259
639,617
ONEOK,
Inc.
10,022
1,006,108
Phillips
66
4,365
566,097
Targa
Resources
Corp.
8,337
1,681,740
Texas
Pacific
Land
Corp.
282
402,682
Valero
Energy
Corp.
2,551
333,492
12,620,383
Passenger
Airlines
—
0.6%
Southwest
Airlines
Co.
41,044
1,274,827
United
Airlines
Holdings,
Inc.*
14,142
1,326,661
2,601,488
Pharmaceuticals
—
3.0%
Bristol-Myers
Squibb
Co.
37,308
2,224,303
Eli
Lilly
&
Co.
3,731
3,434,871
Johnson
&
Johnson
12,767
2,106,810
Merck
&
Co.,
Inc.
33,250
3,067,312
Pfizer,
Inc.
72,997
1,929,311
Viatris,
Inc.
71,216
657,324
Zoetis,
Inc.,
Class
a
A
4,317
721,975
14,141,906
Professional
Services
—
0.6%
Automatic
Data
Processing,
Inc.
2,431
766,203
Jacobs
Solutions,
Inc.
1,307
167,440
Leidos
Holdings,
Inc.
11,031
1,433,699
Paychex,
Inc.
2,293
347,779
2,715,121
Real
Estate
Management
&
Development
—
0.4%
CBRE
Group,
Inc.,
Class
a
A*
11,867
1,684,402
CoStar
Group,
Inc.*
2,398
182,847
1,867,249
Residential
REITs
—
1.1%
AvalonBay
Communities,
Inc.,
REIT
7,328
1,657,447
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Equity
Residential,
REIT
21,360
$
1,584,271
Essex
Property
Trust,
Inc.,
REIT
1,174
365,783
Invitation
Homes,
Inc.,
REIT
11,092
377,239
Mid-America
Apartment
Communities,
Inc.,
REIT
8,379
1,408,678
5,393,418
Retail
REITs
—
0.8%
Federal
Realty
Investment
Trust,
REIT
12,737
1,342,735
Kimco
Realty
Corp.,
REIT
66,843
1,477,230
Regency
Centers
Corp.,
REIT
12,880
987,896
3,807,861
Semiconductors
&
Semiconductor
Equipment
—
7.1%
Advanced
Micro
Devices,
Inc.*
5,042
503,494
Applied
Materials,
Inc.
5,420
856,739
Broadcom,
Inc.
27,494
5,483,129
First
Solar,
Inc.*
2,412
328,466
Intel
Corp.
25,748
611,000
Lam
Research
Corp.
10,714
822,192
Micron
Technology,
Inc.
22,330
2,090,758
Monolithic
Power
Systems,
Inc.
1,394
851,748
NVIDIA
Corp.
155,848
19,468,532
QUALCOMM,
Inc.
13,968
2,195,351
Skyworks
Solutions,
Inc.
6,135
408,959
33,620,368
Software
—
8.6%
Adobe,
Inc.*
4,517
1,980,976
Autodesk,
Inc.*
2,471
677,573
Cadence
Design
Systems,
Inc.*
2,341
586,420
Crowdstrike
Holdings,
Inc.,
Class
a
A*
926
360,825
Fair
Isaac
Corp.*
940
1,773,169
Fortinet,
Inc.*
12,442
1,343,860
Gen
Digital,
Inc.
30,800
841,764
Intuit,
Inc.
3,613
2,217,804
Microsoft
Corp.
47,030
18,670,440
Oracle
Corp.
3,158
524,417
Palantir
Technologies,
Inc.,
Class
a
A*
19,778
1,679,548
Palo
Alto
Networks,
Inc.*
4,700
895,021
PTC,
Inc.*
9,110
1,490,669
Salesforce,
Inc.
10,369
3,088,407
ServiceNow,
Inc.*
1,977
1,838,136
Synopsys,
Inc.*
3,082
1,409,337
Tyler
Technologies,
Inc.*
1,880
1,143,848
40,522,214
Specialized
REITs
—
0.8%
Equinix,
Inc.,
REIT
837
757,167
VICI
Properties,
Inc.,
Class
a
A,
REIT
53,595
1,741,301
Weyerhaeuser
Co.,
REIT
47,388
1,426,379
3,924,847
Specialty
Retail
—
1.1%
Best
Buy
Co.,
Inc.
3,193
287,083
CarMax,
Inc.*
5,151
427,378
FEBRUARY
28,
2025
(Unaudited)
::
LARGE
CAP
CORE
PLUS
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
49
CSM
::
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Home
Depot,
Inc.
(The)
3,388
$
1,343,681
Lowe's
Cos.,
Inc.
804
199,907
Ross
Stores,
Inc.
3,940
552,861
TJX
Cos.,
Inc.
(The)
18,623
2,323,405
5,134,315
Technology
Hardware,
Storage
&
Peripherals
—
5.6%
Apple,
Inc.
96,512
23,340,462
Dell
Technologies,
Inc.,
Class
a
C
2,250
231,210
HP,
Inc.
19,699
608,108
Sandisk
Corp.*
5,265
246,666
Seagate
Technology
Holdings
plc
13,577
1,383,632
Western
Digital
Corp.*
15,797
772,947
26,583,025
Textiles,
Apparel
&
Luxury
Goods
—
0.4%
Deckers
Outdoor
Corp.*
3,567
497,097
Ralph
Lauren
Corp.,
Class
a
A
5,392
1,461,987
1,959,084
Tobacco
—
0.0%(b)
Philip
Morris
International,
Inc.
1,177
182,764
Trading
Companies
&
Distributors
—
0.3%
United
Rentals,
Inc.
2,296
1,474,767
Wireless
Telecommunication
Services
—
0.5%
T-Mobile
US,
Inc.
8,692
2,344,145
Total
Common
Stocks
(Cost
$347,069,746)
446,888,014
Principal
Amount
Short-Term
Investments
—
5.2%
Repurchase
Agreements
(c)
—
5.2%
Repurchase
Agreements
with
various
counterparties,
rates
4.15%
-
4.36%,
dated
2/28/2025,
due
3/3/2025,
total
to
be
received
$24,648,662
(Cost
$24,639,774)
$
24,639,774
24,639,774
Total
Investments
—
100.1%
(Cost
$371,709,520)
471,527,788
Liabilities
in
excess
of
other
assets
—
(0.1%)
(568,555)
Net
Assets
—
100.0%
$
470,959,233
*
Non-income
producing
security.
(a)
All
or
a
portion
of
these
securities
are
segregated
in
connection
with
obligations
for
swaps
with
a
total
value
of
$68,741,416.
(b)
Represents
less
than
0.05%
of
net
assets.
(c)
The
Fund
invests
in
Repurchase
Agreements
jointly
with
other
funds
in
the
Trust.
See
"Repurchase
Agreements"
in
the
Notes
to
Schedules
of
Portfolio
Investments
to
view
the
details
of
each
individual
agreement
and
counterparty
as
well
as
a
description
of
the
securities
subject
to
repurchase.
Abbreviations
REIT
Real
Estate
Investment
Trust
LARGE
CAP
CORE
PLUS
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
50
CSM
::
Swap
Agreements
Large
Cap
Core
Plus
had
the
following
open
non-exchange
traded
total
return
swap
agreements
as
of
February
28,
2025:
Notional
Amount  
($)
Termination
Date
a
Counterparty
Rate
Paid
(Received)
b
Reference
Instrument
Value
and
Unrealized
Appreciation
/
(Depreciation)
($)
(67,908,254)
3/6/2026
Goldman
Sachs
International
(4.58)%
Credit
Suisse
130/30
Large
Cap
Index
(short
portion)c
c
1,194,758
(15,084,383)
1/26/2026
Societe
Generale
(4.73)%
Credit
Suisse
130/30
Large
Cap
Index
(short
portion)
c
554,058
59,416,130
1/26/2026
Societe
Generale
5.63%
Credit
Suisse
130/30
Large
Cap
Index
(long
portion)
d
5,524,747
44,331,747
6,078,805
(60,638,711)
11/6/2025
UBS
AG
(4.73)%
Credit
Suisse
130/30
Large
Cap
Index
(short
portion)
c
(5,529,490)
108,263,496
11/6/2026
UBS
AG
5.13%
Credit
Suisse
130/30
Large
Cap
Index
(long
portion)
d
(2,647,280)
47,624,785
(8,176,770)
24,048,278
(903,207)
Total
Unrealized
Appreciation
7,273,563
Total
Unrealized
Depreciation
(8,176,770)
a
Agreements
may
be
terminated
at
will
by
either
party
without
penalty.
Payment
is
due
at
termination/maturity.
b
Reflects
the
floating
financing
rate,
as
of
February
28,
2025,
on
the
notional
amount
of
the
swap
agreement
paid
to
the
counterparty
or
received
from
the
counterparty,
excluding
any
commissions.
This
amount
is
included
as
part
of
the
unrealized
appreciation/(depreciation).
c
Certain
underlying
short
component
disclosures
related
to
this
index
may
be
found
on
the
website
at
www.proshares.com/media/Large_Cap_
Short_February.pdf
d
See
the
Common
Stocks
section
of
the
preceding
Schedule
of
Portfolio
Investments
for
the
representative
long
components
of
the
underlying
reference
instrument
and
their
relative
weightings.
FEBRUARY
28,
2025
(Unaudited)
::
LONG
ONLINE/SHORT
STORES
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
51
CLIX
::
Investments
Shares
Value
Common
Stocks
—
85
.6
%
Broadline
Retail
—
55.2%
Alibaba
Group
Holding
Ltd.,
ADR
3,619
$
479,554
Amazon.com,
Inc.*
8,498
1,803,955
Coupang,
Inc.*
13,865
328,600
eBay,
Inc.
11,510
745,157
Etsy,
Inc.*
5,568
285,026
Global-e
Online
Ltd.*
2,746
117,035
JD.com,
Inc.,
ADR
4,493
188,257
MercadoLibre,
Inc.*
105
222,796
Ozon
Holdings
plc,
ADR*‡
3,471
—
PDD
Holdings,
Inc.,
ADR*
4,753
540,369
4,710,749
Distributors
—
3.2%
GigaCloud
Technology,
Inc.,
Class
a
A*
16,132
273,115
Entertainment
—
2.3%
Sea
Ltd.,
ADR*
1,512
192,432
Personal
Care
Products
—
1.4%
Oddity
Tech
Ltd.,
Class
a
A*
2,550
121,431
Specialty
Retail
—
20.7%
Beyond,
Inc.*(a)
39,073
249,676
Buckle,
Inc.
(The)
7,252
290,443
Carvana
Co.,
Class
a
A*
1,529
356,410
Chewy,
Inc.,
Class
a
A*
8,817
328,521
Revolve
Group,
Inc.,
Class
a
A*
10,311
273,860
Wayfair,
Inc.,
Class
a
A*
6,898
272,816
1,771,726
Textiles,
Apparel
&
Luxury
Goods
—
2.8%
Figs,
Inc.,
Class
a
A*
52,796
241,278
Total
Common
Stocks
(Cost
$6,778,648)
7,310,731
Securities
Lending
Reinvestments
(b)
—
0
.7
%
Investment
Companies
—
0
.7
%
Invesco
Government
&
Agency
Portfolio,
Institutional
Class
4.29%
(c)
(Cost
$59,839)
59,839
59,839
Investments
Principal
Amount
Value
Short-Term
Investments
—
7
.9
%
Repurchase
Agreements
(d)
—
7
.9
%
Repurchase
Agreements
with
various
counterparties,
rates
4.15%
-
4.36%,
dated
2/28/2025,
due
3/3/2025,
total
to
be
received
$671,213
(Cost
$670,970)
$
670,970
$
670,970
Total
Investments
—
94.2%
(Cost
$7,509,457)
8,041,540
Other
assets
less
liabilities
—
5.8%
497,500
Net
Assets
—
100.0%
$
8,539,040
*
Non-income
producing
security.
‡
Value
determined
using
significant
unobservable
inputs.
(a)
The
security
or
a
portion
of
this
security
is
on
loan
at
February
28,
2025.
The
total
value
of
securities
on
loan
at
February
28,
2025
was
$56,647,
collateralized
in
the
form
of
cash
with
a
value
of
$59,839
that
was
reinvested
in
the
securities
shown
in
the
Securities
Lending
Reinvestment
section
of
the
Schedule
of
Portfolio
Investments.
(b)
The
security
was
purchased
with
cash
collateral
held
from
securities
on
loan
at
February
28,
2025.
The
total
value
of
securities
purchased
was
$59,839.
(c)
Rate
shown
is
the
7-day
yield
as
of
February
28,
2025.
(d)
The
Fund
invests
in
Repurchase
Agreements
jointly
with
other
funds
in
the
Trust.
See
"Repurchase
Agreements"
in
the
Notes
to
Schedules
of
Portfolio
Investments
to
view
the
details
of
each
individual
agreement
and
counterparty
as
well
as
a
description
of
the
securities
subject
to
repurchase.
Abbreviations
ADR
American
Depositary
Receipt
LONG
ONLINE/SHORT
STORES
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
52
CLIX
::
Swap
Agreements
Long
Online/Short
Stores
ETF
had
the
following
open
non-exchange
traded
total
return
swap
agreements
as
of
February
28,
2025:
Notional
Amount  
($)
Termination
Date
a
Counterparty
Rate
Paid
(Received)
b
Reference
Instrument
Value
and
Unrealized
Appreciation
/
(Depreciation)
($)
(2,683,805)
5/6/2025
BNP
Paribas
SA
(4.88)%
Solactive-ProShares
Bricks
and
Mortar
Retail
Store
Index
(
1,654,274
)
52,183
5/6/2025
BNP
Paribas
SA
5.33%
ProShares
Online
Retail
Index
117,222
(2,631,622)
(
1,537,052
)
(142,474)
11/6/2026
Goldman
Sachs
International
(4.08)%
Solactive-ProShares
Bricks
and
Mortar
Retail
Store
Index
6,814
14,910
11/6/2026
Goldman
Sachs
International
5.08%
ProShares
Online
Retail
Index
(
79
)
(127,564)
6,735
(1,442,960)
3/6/2025
Societe
Generale
(4.13)%
Solactive-ProShares
Bricks
and
Mortar
Retail
Store
Index
(
54,523
)
1,105,162
11/6/2026
Societe
Generale
4.08%
ProShares
Online
Retail
Index
22,184
(337,798)
(
32,339
)
59,638
1/26/2026
UBS
AG
5.13%
Solactive-ProShares
Bricks
and
Mortar
Retail
Store
Index
8,571
(3,037,346)
(
1,554,085
)
Total
Unrealized
Appreciation
154,791
Total
Unrealized
Depreciation
(
1,708,876
)
a
Agreements
may
be
terminated
at
will
by
either
party
without
penalty.
Payment
is
due
at
termination/maturity.
b
Reflects
the
floating
financing
rate,
as
of
February
28,
2025,
on
the
notional
amount
of
the
swap
agreement
paid
to
the
counterparty
or
received
from
the
counterparty,
excluding
any
commissions.
This
amount
is
included
as
part
of
the
unrealized
appreciation/(depreciation).
FEBRUARY
28,
2025
(Unaudited)
::
MERGER
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
53
MRGR
::
Investments
Shares
Value
Common
Stocks
—
66.4%
Aerospace
&
Defense
—
4.8%
Spirit
AeroSystems
Holdings,
Inc.,
Class
a
A*
7,731
$
269,812
Triumph
Group,
Inc.*
11,100
281,718
551,530
Air
Freight
&
Logistics
—
2.4%
Air
Transport
Services
Group,
Inc.*
12,566
280,599
Banks
—
2.4%
Sandy
Spring
Bancorp,
Inc.
8,664
276,988
Broadline
Retail
—
2.4%
Nordstrom,
Inc.
11,350
275,691
Capital
Markets
—
2.3%
Hargreaves
Lansdown
plc
19,117
265,602
Chemicals
—
4.7%
Arcadium
Lithium
plc*
49,616
289,757
Covestro
AG*(a)
4,279
257,718
547,475
Communications
Equipment
—
2.5%
Infinera
Corp.*(b)
43,203
287,300
Consumer
Finance
—
2.4%
Moneylion,
Inc.*
3,146
274,080
Containers
&
Packaging
—
2.6%
Berry
Global
Group,
Inc.
4,125
297,701
Electric
Utilities
—
2.3%
ALLETE,
Inc.
4,125
270,971
Energy
Equipment
&
Services
—
1.7%
ChampionX
Corp.
6,720
200,256
Entertainment
—
2.8%
Endeavor
Group
Holdings,
Inc.,
Class
a
A(b)
10,004
326,030
Food
Products
—
2.4%
Kellanova
3,375
279,788
Health
Care
Providers
&
Services
—
4.6%
Cross
Country
Healthcare,
Inc.*
15,127
259,579
Patterson
Cos.,
Inc.
8,719
271,510
531,089
Hotels,
Restaurants
&
Leisure
—
7.3%
Despegar.com
Corp.*
14,100
271,002
Everi
Holdings,
Inc.*
20,782
286,168
Playa
Hotels
&
Resorts
NV*
21,100
281,685
838,855
Investments
Shares
Value
Common
Stocks
(continued)
Independent
Power
and
Renewable
Electricity
Producers
—
2.3%
Neoen
SA(a)
6,423
$
265,517
Insurance
—
2.6%
Direct
Line
Insurance
Group
plc
86,500
302,052
Media
—
4.2%
Interpublic
Group
of
Cos.,
Inc.
(The)
9,048
247,915
Liberty
Broadband
Corp.,
Class
a
C*
2,959
243,408
491,323
Metals
&
Mining
—
2.3%
De
Grey
Mining
Ltd.*
215,631
262,915
Pharmaceuticals
—
2.4%
Intra-Cellular
Therapies,
Inc.*
2,175
278,835
Software
—
5.0%
Altair
Engineering,
Inc.,
Class
a
A*
2,657
296,521
SolarWinds
Corp.
15,225
278,770
575,291
Total
Common
Stocks
(Cost
$7,605,576)
7,679,888
Securities
Lending
Reinvestments
(c)
—
5.0%
Investment
Companies
—
5.0%
Invesco
Government
&
Agency
Portfolio,
Institutional
Class
4.29%
(d)
(Cost
$581,875)
581,875
581,875
Principal
Amount
Short-Term
Investments
—
33.0%
Repurchase
Agreements
(e)
—
33.0%
Repurchase
Agreements
with
various
counterparties,
rates
4.15%
-
4.36%,
dated
2/28/2025,
due
3/3/2025,
total
to
be
received
$3,817,277
(Cost
$3,815,901)
$
3,815,901
3,815,901
Total
Investments
—
104.4%
(Cost
$12,003,352)
12,077,664
Liabilities
in
excess
of
other
assets
—
(4.4%)
(507,413)
Net
Assets
—
100.0%
$
11,570,251
*
Non-income
producing
security.
(a)
Security
exempt
from
registration
pursuant
to
Regulation
S
under
the
Securities
Act
of
1933.
Regulation
S
applies
to
securities
offerings
that
are
made
outside
of
the
United
States
and
do
not
involve
direct
selling
efforts
in
the
United
States
and
as
such
may
have
restrictions
on
resale.
MERGER
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
54
MRGR
::
(b)
The
security
or
a
portion
of
this
security
is
on
loan
at
February
28,
2025.
The
total
value
of
securities
on
loan
at
February
28,
2025
was
$606,641,
collateralized
in
the
form
of
cash
with
a
value
of
$581,875
that
was
reinvested
in
the
securities
shown
in
the
Securities
Lending
Reinvestment
section
of
the
Schedule
of
Portfolio
Investments
and
$28,543
of
collateral
in
the
form
of
U.S.
Government
Treasury
Securities,
interest
rate
4.00%,
and
maturity
date
December
15,
2027.
The
total
value
of
collateral
is
$610,418.
(c)
The
security
was
purchased
with
cash
collateral
held
from
securities
on
loan
at
February
28,
2025.
The
total
value
of
securities
purchased
was
$581,875.
(d)
Rate
shown
is
the
7-day
yield
as
of
February
28,
2025.
(e)
The
Fund
invests
in
Repurchase
Agreements
jointly
with
other
funds
in
the
Trust.
See
"Repurchase
Agreements"
in
the
Notes
to
Schedules
of
Portfolio
Investments
to
view
the
details
of
each
individual
agreement
and
counterparty
as
well
as
a
description
of
the
securities
subject
to
repurchase.
Forward
Currency
Contracts
Merger
ETF
had
the
following
open
forward
currency
contracts
as
of
February
28,
2025:
Currency
A
Counterparty
A
Delivery
Date
A
Foreign
Currency
to
Receive
(Pay)
A
U.S.
Dollars
to
Receive
(Pay)
A
Market
Value
A
Net
Unrealized
Appreciation
/
(Depreciation)
A
AAA
U.S.
Dollar
vs.
Canadian
Dollar
Goldman
Sachs
International
04/15/25
501,000
$
(344,996)
$
346,969
$
1,973
U.S.
Dollar
vs.
British
Pound
Goldman
Sachs
International
04/15/25
285,000
(355,619)
358,463
2,844
U.S.
Dollar
vs.
Australian
Dollar
Goldman
Sachs
International
04/15/25
(451,000)
280,855
(279,936)
919
U.S.
Dollar
vs.
Canadian
Dollar
Goldman
Sachs
International
04/15/25
(501,000)
349,407
(346,969)
2,438
U.S.
Dollar
vs.
Euro
Goldman
Sachs
International
04/15/25
(11,000)
11,530
(11,437)
93
Total
Unrealized
Appreciation
$
8,267
U.S.
Dollar
vs.
British
Pound
Goldman
Sachs
International
04/15/25
3,000
$
(3,791)
$
3,773
$
(18)
U.S.
Dollar
vs.
Euro
Goldman
Sachs
International
04/15/25
(496,000)
513,072
(515,681)
(2,609)
U.S.
Dollar
vs.
British
Pound
Goldman
Sachs
International
04/15/25
(726,000)
895,252
(913,138)
(17,886)
Total
Unrealized
Depreciation
$
(20,513)
Total
Net
Unrealized
Depreciation
$
(12,246)
Swap
Agreements
Merger
ETF
had
the
following
open
non-exchange
traded
total
return
swap
agreements
as
of
February
28,
2025:
Notional
Amount  
($)
Termination
Date
a
Counterparty
Rate
Paid
(Received)
b
Reference
Instrument
Value
and
Unrealized
Appreciation
/
(Depreciation)
($)
(8,048)
11/13/2025
Citibank
NA
(3.63)%
S&P
Merger
Arbitrage
Index
(short
exposure
to
Acquirers)
c
236
9,021
11/13/2025
Citibank
NA
4.98%
S&P
Merger
Arbitrage
Index
(long
exposure
to
Targets)
d
10
973
246
(2,607,419)
3/6/2025
Societe
Generale
(4.23)%
S&P
Merger
Arbitrage
Index
(short
exposure
to
Acquirers)
c
(9,159)
1,918,383
11/6/2026
Societe
Generale
5.38%
S&P
Merger
Arbitrage
Index
(long
exposure
to
Targets)
d
853
(689,036)
(8,306)
(688,063)
(8,060)
Total
Unrealized
Appreciation
1,099
Total
Unrealized
Depreciation
(9,159)
a
Agreements
may
be
terminated
at
will
by
either
party
without
penalty.
Payment
is
due
at
termination/maturity.
b
Reflects
the
floating
financing
rate,
as
of
February
28,
2025,
on
the
notional
amount
of
the
swap
agreement
paid
to
the
counterparty
or
received
from
the
counterparty,
excluding
any
commissions.
This
amount
is
included
as
part
of
the
unrealized
appreciation/(depreciation).
c
Certain
underlying
short
component
disclosures
related
to
this
index
may
be
found
on
the
website
at
www.proshares.com/media/Merger_
Acquirers_February.pdf.
d
See
the
Common
Stocks
section
of
the
preceding
Schedule
of
Portfolio
Investments
for
the
representative
long
components
of
the
underlying
reference
instrument
and
their
relative
weightings.
FEBRUARY
28,
2025
(Unaudited)
::
MERGER
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
55
MRGR
::
Merger
ETF
invested,
as
a
percentage
of
net
assets,
in
the
following
countries
as
of
February
28,
2025:
United
States
52.3%
United
Kingdom
4.9%
Argentina
2.4%
France
2.3%
Australia
2.3%
Germany
2.2%
Other
a
33.6%
100.0%
a
Includes
any
non-equity
securities
and
net
other
assets
(liabilities).
METAVERSE
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
56
VERS
::
Investments
Shares
Value
Common
Stocks
—
99.7%
Broadline
Retail
—
4.3%
Amazon.com,
Inc.*
1,258
$
267,048
Communications
Equipment
—
0.9%
Nokia
OYJ,
ADR(a)
11,609
55,723
Electronic
Equipment,
Instruments
&
Components
—
7.4%
MicroVision,
Inc.*(a)
178,134
258,294
Vuzix
Corp.*
66,231
196,044
454,338
Entertainment
—
12.7%
Electronic
Arts,
Inc.
1,446
186,708
NetEase,
Inc.,
ADR
736
73,394
ROBLOX
Corp.,
Class
a
A*
4,349
276,770
Take-Two
Interactive
Software,
Inc.*
1,154
244,625
781,497
Health
Care
Equipment
&
Supplies
—
1.1%
Penumbra,
Inc.*
228
65,080
Household
Durables
—
2.9%
Sony
Group
Corp.,
ADR
7,191
180,063
Interactive
Media
&
Services
—
15.2%
Alphabet,
Inc.,
Class
a
A
1,516
258,144
fuboTV,
Inc.*
72,968
221,093
Meta
Platforms,
Inc.,
Class
a
A
403
269,285
Snap,
Inc.,
Class
a
A*
18,057
185,084
933,606
IT
Services
—
3.7%
Accenture
plc,
Class
a
A
464
161,704
Globant
SA*
423
63,674
225,378
Media
—
2.1%
Stagwell,
Inc.,
Class
a
A*
19,395
125,874
Real
Estate
Management
&
Development
—
1.8%
eXp
World
Holdings,
Inc.
11,164
112,868
Semiconductors
&
Semiconductor
Equipment
—
25.7%
Ambarella,
Inc.*
2,179
133,856
ASML
Holding
NV
(Registered),
ADR
20
14,182
CEVA,
Inc.*
4,152
142,247
Cirrus
Logic,
Inc.*
962
100,250
Himax
Technologies,
Inc.,
ADR
30,244
304,859
Intel
Corp.
1,123
26,649
Magnachip
Semiconductor
Corp.*
8,750
39,725
Micron
Technology,
Inc.
200
18,726
NVIDIA
Corp.
2,013
251,464
QUALCOMM,
Inc.
1,716
269,704
STMicroelectronics
NV,
ADR
5,152
127,203
Investments
Shares
Value
Common
Stocks
(continued)
Universal
Display
Corp.
990
$
152,084
1,580,949
Software
—
11.7%
Agora,
Inc.,
ADR*
2,934
16,606
InterDigital,
Inc.
396
84,602
Matterport,
Inc.*
8,585
46,874
Microsoft
Corp.
667
264,792
PTC,
Inc.*
1,114
182,284
Unity
Software,
Inc.*
4,942
126,713
721,871
Specialty
Retail
—
1.6%
Williams-Sonoma,
Inc.
510
99,236
Technology
Hardware,
Storage
&
Peripherals
—
8.6%
Apple,
Inc.
1,195
288,999
Immersion
Corp.
20,059
161,274
Xerox
Holdings
Corp.
12,196
80,860
531,133
Total
Common
Stocks
(Cost
$5,363,490)
6,134,664
Securities
Lending
Reinvestments
(b)
—
4.1%
Investment
Companies
—
4.1%
Invesco
Government
&
Agency
Portfolio,
Institutional
Class
4.29%
(c)
(Cost
$252,886)
252,886
252,886
Total
Investments
—
103.8%
(Cost
$5,616,376)
6,387,550
Liabilities
in
excess
of
other
assets
—
(3.8%)
(235,726)
Net
Assets
—
100.0%
$
6,151,824
*
Non-income
producing
security.
(a)
The
security
or
a
portion
of
this
security
is
on
loan
at
February
28,
2025.
The
total
value
of
securities
on
loan
at
February
28,
2025
was
$296,337,
collateralized
in
the
form
of
cash
with
a
value
of
$252,886
that
was
reinvested
in
the
securities
shown
in
the
Securities
Lending
Reinvestment
section
of
the
Schedule
of
Portfolio
Investments
and
$53,289
of
collateral
in
the
form
of
U.S.
Government
Treasury
Securities,
interest
rates
ranging
from
0.00%
–
6.25%,
and
maturity
dates
ranging
from
March
15,
2025
–
August
15,
2054.
The
total
value
of
collateral
is
$306,175.
(b)
The
security
was
purchased
with
cash
collateral
held
from
securities
on
loan
at
February
28,
2025.
The
total
value
of
securities
purchased
was
$252,886.
(c)
Rate
shown
is
the
7-day
yield
as
of
February
28,
2025.
Abbreviations
ADR
American
Depositary
Receipt
OYJ
Public
Limited
Company
FEBRUARY
28,
2025
(Unaudited)
::
METAVERSE
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
57
VERS
::
Metaverse
ETF
invested,
as
a
percentage
of
net
assets,
in
the
following
countries
as
of
February
28,
2025:
United
States
83.9%
Taiwan
5.0%
Japan
2.9%
Ireland
2.6%
Singapore
2.1%
China
1.5%
Finland
0.9%
South
Korea
0.6%
Netherlands
0.2%
Other
a
0.3%
100.0%
a
Includes
any
non-equity
securities
and
net
other
assets
(liabilities).
MSCI
EAFE
DIVIDEND
GROWERS
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
58
EFAD
::
Investments
Shares
Value
Common
Stocks
—
98.9%
Aerospace
&
Defense
—
1.3%
BAE
Systems
plc
48,080
$
851,494
Air
Freight
&
Logistics
—
1.2%
DSV
A/S
3,911
787,283
Beverages
—
1.3%
Diageo
plc
29,943
815,510
Biotechnology
—
1.2%
CSL
Ltd.
4,837
783,765
Broadline
Retail
—
1.2%
Pan
Pacific
International
Holdings
Corp.
28,952
764,266
Building
Products
—
1.2%
Geberit
AG
(Registered)
1,368
801,165
Capital
Markets
—
1.2%
Partners
Group
Holding
AG
517
758,095
Chemicals
—
7.6%
Croda
International
plc
19,956
830,216
Givaudan
SA
(Registered)
183
823,069
Nippon
Sanso
Holdings
Corp.
27,882
843,519
Shin-Etsu
Chemical
Co.
Ltd.
26,649
794,368
Sika
AG
(Registered)
3,050
773,106
Symrise
AG,
Class
a
A
7,905
798,443
4,862,721
Construction
&
Engineering
—
1.3%
ACS
Actividades
de
Construccion
y
Servicios
SA
15,025
810,989
Diversified
Telecommunication
Services
—
5.1%
Elisa
OYJ
18,122
835,671
HKT
Trust
&
HKT
Ltd.
644,480
826,267
Nippon
Telegraph
&
Telephone
Corp.
825,219
796,223
Telenor
ASA
64,874
841,253
3,299,414
Electric
Utilities
—
3.9%
CK
Infrastructure
Holdings
Ltd.
121,915
836,387
Enel
SpA
113,620
834,125
Iberdrola
SA
57,997
841,421
2,511,933
Electrical
Equipment
—
1.2%
Schneider
Electric
SE
3,089
751,578
Electronic
Equipment,
Instruments
&
Components
—
2.4%
Halma
plc
21,650
763,297
Murata
Manufacturing
Co.
Ltd.
44,680
756,205
1,519,502
Investments
Shares
Value
Common
Stocks
(continued)
Financial
Services
—
2.5%
Sofina
SA
3,333
$
822,905
Washington
H
Soul
Pattinson
&
Co.
Ltd.
37,284
790,842
1,613,747
Food
Products
—
6.5%
Chocoladefabriken
Lindt
&
Spruengli
AG,
Class
a
PC
69
871,056
Kerry
Group
plc,
Class
a
A
8,014
844,291
Lotus
Bakeries
NV
85
768,196
MEIJI
Holdings
Co.
Ltd.(a)
42,224
863,001
Nestle
SA
(Registered)
8,873
856,764
4,203,308
Gas
Utilities
—
1.4%
APA
Group
191,337
878,094
Health
Care
Equipment
&
Supplies
—
4.9%
Coloplast
A/S,
Class
a
B
7,236
770,936
DiaSorin
SpA
7,778
820,641
Fisher
&
Paykel
Healthcare
Corp.
Ltd.
40,218
768,032
Terumo
Corp.
43,882
775,459
3,135,068
Health
Care
Providers
&
Services
—
1.2%
Sonic
Healthcare
Ltd.
45,032
768,686
Household
Durables
—
1.3%
Sony
Group
Corp.
32,511
806,653
Household
Products
—
1.3%
Unicharm
Corp.
109,053
817,382
Industrial
Conglomerates
—
3.8%
DCC
plc
11,758
793,553
Hikari
Tsushin,
Inc.
3,257
819,572
Sekisui
Chemical
Co.
Ltd.
48,690
825,366
2,438,491
Industrial
REITs
—
1.2%
Segro
plc,
REIT
89,998
798,006
Insurance
—
5.2%
AIA
Group
Ltd.
113,773
869,043
Legal
&
General
Group
plc
265,093
816,789
Swiss
Life
Holding
AG
(Registered)
945
821,985
Tokio
Marine
Holdings,
Inc.
23,723
833,875
3,341,692
Interactive
Media
&
Services
—
1.2%
CAR
Group
Ltd.
33,541
773,812
IT
Services
—
5.1%
Obic
Co.
Ltd.
27,275
779,906
FEBRUARY
28,
2025
(Unaudited)
::
MSCI
EAFE
DIVIDEND
GROWERS
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
59
EFAD
::
Investments
Shares
Value
Common
Stocks
(continued)
Otsuka
Corp.
34,365
$
748,211
SCSK
Corp.
34,250
849,574
TIS,
Inc.
32,667
903,954
3,281,645
Machinery
—
1.2%
Spirax
Group
plc
8,201
751,238
Metals
&
Mining
—
1.2%
Northern
Star
Resources
Ltd.
72,636
775,095
Multi-Utilities
—
1.3%
National
Grid
plc
68,099
836,032
Personal
Care
Products
—
1.3%
Kao
Corp.
19,045
818,444
Pharmaceuticals
—
10.1%
Astellas
Pharma,
Inc.
83,305
803,779
Novartis
AG
(Registered)
7,601
822,736
Novo
Nordisk
A/S,
Class
a
B
9,842
884,571
Recordati
Industria
Chimica
e
Farmaceutica
SpA
12,931
730,240
Roche
Holding
AG
2,498
828,375
Sanofi
SA
7,468
810,535
Shionogi
&
Co.
Ltd.
55,788
830,369
UCB
SA
4,206
794,143
6,504,748
Professional
Services
—
3.5%
Computershare
Ltd.
30,372
775,682
RELX
plc
16,198
778,709
Wolters
Kluwer
NV
4,423
678,948
2,233,339
Real
Estate
Management
&
Development
—
2.6%
Hulic
Co.
Ltd.
89,391
831,654
Sumitomo
Realty
&
Development
Co.
Ltd.
24,105
832,746
1,664,400
Semiconductors
&
Semiconductor
Equipment
—
2.3%
ASML
Holding
NV
1,081
762,909
Lasertec
Corp.
8,189
726,547
1,489,456
Software
—
3.5%
Nemetschek
SE
6,267
729,980
Sage
Group
plc
(The)
48,644
774,814
SAP
SE
2,783
767,863
2,272,657
Technology
Hardware,
Storage
&
Peripherals
—
2.4%
FUJIFILM
Holdings
Corp.
37,775
759,034
Logitech
International
SA
(Registered)
7,765
760,794
1,519,828
Investments
Shares
Value
Common
Stocks
(continued)
Trading
Companies
&
Distributors
—
2.5%
Brenntag
SE
11,934
$
792,093
Bunzl
plc
18,712
793,542
1,585,635
Water
Utilities
—
1.3%
United
Utilities
Group
plc
65,677
810,598
Total
Common
Stocks
(Cost
$60,406,824)
63,435,769
Principal
Amount
Short-Term
Investments
—
0.2%
Repurchase
Agreements
(b)
—
0.2%
Repurchase
Agreements
with
various
counterparties,
rates
4.15%
-
4.36%,
dated
2/28/2025,
due
3/3/2025,
total
to
be
received
$120,782
(Cost
$120,739)
$
120,739
120,739
Total
Investments
—
99.1%
(Cost
$60,527,563)
63,556,508
Other
assets
less
liabilities
—
0.9%
589,002
Net
Assets
—
100.0%
$
64,145,510
(a)
The
security
or
a
portion
of
this
security
is
on
loan
at
February
28,
2025.
The
total
value
of
securities
on
loan
at
February
28,
2025
was
$242,361,
collateralized
in
the
form
of
U.S.
Government
Treasury
Securities,
interest
rates
ranging
from
0.00%
–
4.88%,
and
maturity
dates
ranging
from
November
30,
2025
–
May
15,
2054.
The
total
value
of
collateral
is
$257,729.
(b)
The
Fund
invests
in
Repurchase
Agreements
jointly
with
other
funds
in
the
Trust.
See
"Repurchase
Agreements"
in
the
Notes
to
Schedules
of
Portfolio
Investments
to
view
the
details
of
each
individual
agreement
and
counterparty
as
well
as
a
description
of
the
securities
subject
to
repurchase.
Abbreviations
OYJ
Public
Limited
Company
REIT
Real
Estate
Investment
Trust
MSCI
EAFE
DIVIDEND
GROWERS
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
60
EFAD
::
MSCI
EAFE
Dividend
Growers
ETF
invested,
as
a
percentage
of
net
assets,
in
the
following
countries
as
of
February
28,
2025:
Japan
29.0%
United
Kingdom
16.2%
Switzerland
12.7%
Australia
8.6%
Germany
4.8%
Hong
Kong
4.0%
Denmark
3.8%
Belgium
3.7%
Italy
3.7%
Spain
2.6%
France
2.4%
Netherlands
2.3%
Ireland
1.3%
Norway
1.3%
Finland
1.3%
New
Zealand
1.2%
Other
a
1.1%
100.0%
a
Includes
any
non-equity
securities
and
net
other
assets
(liabilities).
FEBRUARY
28,
2025
(Unaudited)
::
MSCI
EMERGING
MARKETS
DIVIDEND
GROWERS
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
61
EMDV
::
Investments
Shares
Value
Common
Stocks
—
99.6%
Automobile
Components
—
2.0%
Hankook
Tire
&
Technology
Co.
Ltd.*
5,646
$
146,273
Banks
—
11.8%
Bank
of
China
Ltd.,
Class
a
A
195,900
145,246
Bank
of
Communications
Co.
Ltd.,
Class
a
A
146,400
144,929
China
Construction
Bank
Corp.,
Class
a
A
123,600
144,419
China
Merchants
Bank
Co.
Ltd.,
Class
a
A
25,900
149,535
Industrial
&
Commercial
Bank
of
China
Ltd.,
Class
a
A
153,600
144,886
Postal
Savings
Bank
of
China
Co.
Ltd.,
Class
a
H
(a)
234,961
148,946
877,961
Beverages
—
14.5%
Anhui
Gujing
Distillery
Co.
Ltd.,
Class
a
B
10,100
150,687
Coca-Cola
Femsa
SAB
de
CV
17,577
156,503
Jiangsu
King's
Luck
Brewery
JSC
Ltd.,
Class
a
A
23,000
167,403
Kweichow
Moutai
Co.
Ltd.,
Class
a
A
700
144,243
Luzhou
Laojiao
Co.
Ltd.,
Class
a
A
9,200
159,742
Tsingtao
Brewery
Co.
Ltd.,
Class
a
H
22,650
151,591
Wuliangye
Yibin
Co.
Ltd.,
Class
a
A
8,400
151,757
1,081,926
Capital
Markets
—
1.9%
Reinet
Investments
SCA
5,897
144,557
Chemicals
—
3.9%
Asian
Paints
Ltd.
5,814
144,829
Pidilite
Industries
Ltd.
4,702
142,822
287,651
Communications
Equipment
—
2.0%
Yealink
Network
Technology
Corp.
Ltd.,
Class
a
A
27,000
146,062
Construction
&
Engineering
—
2.0%
China
Railway
Group
Ltd.,
Class
a
A
184,600
149,795
Consumer
Finance
—
1.9%
Sundaram
Finance
Ltd.
2,769
143,594
Consumer
Staples
Distribution
&
Retail
—
1.9%
Grupo
Comercial
Chedraui
SA
de
CV
24,620
140,936
Electric
Utilities
—
4.1%
Interconexion
Electrica
SA
ESP
32,768
163,453
Investments
Shares
Value
Common
Stocks
(continued)
Power
Grid
Corp.
of
India
Ltd.
48,733
$
139,704
303,157
Electrical
Equipment
—
1.8%
WEG
SA
16,100
132,406
Financial
Services
—
2.0%
Chailease
Holding
Co.
Ltd.
38,554
148,047
Food
Products
—
2.3%
China
Mengniu
Dairy
Co.
Ltd.
74,364
169,630
Gas
Utilities
—
1.9%
ENN
Energy
Holdings
Ltd.
21,301
141,604
Ground
Transportation
—
1.7%
Localiza
Rent
a
Car
SA
26,553
126,730
Health
Care
Providers
&
Services
—
1.9%
Mouwasat
Medical
Services
Co.
6,263
141,282
Household
Durables
—
2.0%
Midea
Group
Co.
Ltd.,
Class
a
A
15,100
151,452
Independent
Power
and
Renewable
Electricity
Producers
—
1.9%
China
National
Nuclear
Power
Co.
Ltd.,
Class
a
A
106,400
139,954
Industrial
Conglomerates
—
3.8%
LG
Corp.*
3,135
142,510
Metlen
Energy
&
Metals
SA
3,863
142,258
284,768
Interactive
Media
&
Services
—
1.9%
Tencent
Holdings
Ltd.
2,310
142,158
IT
Services
—
7.1%
Infosys
Ltd.,
ADR
6,878
138,248
LTIMindtree
Ltd.(a)
2,295
122,376
Mphasis
Ltd.
5,044
129,539
Persistent
Systems
Ltd.
2,244
136,016
526,179
Life
Sciences
Tools
&
Services
—
2.1%
Hangzhou
Tigermed
Consulting
Co.
Ltd.,
Class
a
A
20,400
158,787
Machinery
—
2.0%
Zhejiang
Dingli
Machinery
Co.
Ltd.,
Class
a
A
18,200
146,511
Metals
&
Mining
—
0.0%
Polyus
PJSC,
GDR*‡(a)
3,949
—
Oil,
Gas
&
Consumable
Fuels
—
1.9%
China
Coal
Energy
Co.
Ltd.,
Class
a
H
140,977
145,562
MSCI
EMERGING
MARKETS
DIVIDEND
GROWERS
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
62
EMDV
::
Investments
Shares
Value
Common
Stocks
(continued)
Rosneft
Oil
Co.
PJSC,
GDR*‡(a)
25,159
$
—
145,562
Personal
Care
Products
—
1.9%
Hindustan
Unilever
Ltd.
5,666
141,822
Pharmaceuticals
—
5.9%
CSPC
Pharmaceutical
Group
Ltd.
240,799
145,835
Yuhan
Corp.
1,743
145,240
Zhangzhou
Pientzehuang
Pharmaceutical
Co.
Ltd.,
Class
a
A
5,300
148,837
439,912
Semiconductors
&
Semiconductor
Equipment
—
2.1%
NAURA
Technology
Group
Co.
Ltd.,
Class
a
A
2,500
153,531
Software
—
3.7%
Shanghai
Baosight
Software
Co.
Ltd.,
Class
a
A
32,700
146,771
Tata
Elxsi
Ltd.
2,134
131,963
278,734
Technology
Hardware,
Storage
&
Peripherals
—
1.9%
Wistron
Corp.
42,336
144,507
Tobacco
—
1.9%
ITC
Ltd.
32,102
144,911
Wireless
Telecommunication
Services
—
1.9%
PLDT,
Inc.
6,214
142,512
Total
Common
Stocks
(Cost
$7,704,693)
7,422,911
Principal
Amount
Short-Term
Investments
—
2.4%
Repurchase
Agreements
(b)
—
2.4%
Repurchase
Agreements
with
various
counterparties,
rates
4.15%
-
4.36%,
dated
2/28/2025,
due
3/3/2025,
total
to
be
received
$176,010
(Cost
$175,945)
$
175,945
175,945
Total
Investments
—
102.0%
(Cost
$7,880,638)
7,598,856
Liabilities
in
excess
of
other
assets
—
(2.0%)
(146,510)
Net
Assets
—
100.0%
$
7,452,346
*
Non-income
producing
security.
‡
Value
determined
using
significant
unobservable
inputs.
(a)
Security
exempt
from
registration
pursuant
to
Regulation
S
under
the
Securities
Act
of
1933.
Regulation
S
applies
to
securities
offerings
that
are
made
outside
of
the
United
States
and
do
not
involve
direct
selling
efforts
in
the
United
States
and
as
such
may
have
restrictions
on
resale.
(b)
The
Fund
invests
in
Repurchase
Agreements
jointly
with
other
funds
in
the
Trust.
See
"Repurchase
Agreements"
in
the
Notes
to
Schedules
of
Portfolio
Investments
to
view
the
details
of
each
individual
agreement
and
counterparty
as
well
as
a
description
of
the
securities
subject
to
repurchase.
Abbreviations
ADR
American
Depositary
Receipt
GDR
Global
Depositary
Receipt
PJSC
Public
Joint
Stock
Company
SCA
Limited
partnership
with
share
capital
FEBRUARY
28,
2025
(Unaudited)
::
MSCI
EMERGING
MARKETS
DIVIDEND
GROWERS
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
63
EMDV
::
MSCI
Emerging
Markets
Dividend
Growers
ETF
invested,
as
a
percentage
of
net
assets,
in
the
following
countries
as
of
February
28,
2025:
China
52.2%
India
18.5%
South
Korea
5.8%
Mexico
4.0%
Taiwan
3.9%
Brazil
3.5%
Colombia
2.2%
South
Africa
1.9%
Philippines
1.9%
Greece
1.9%
Saudi
Arabia
1.9%
Israel
1.9%
Russia
0.0%*
Other
a
0.4%
100.0%
*
Amount
represents
less
than
0.05%.
a
Includes
any
non-equity
securities
and
net
other
assets
(liabilities).
MSCI
EUROPE
DIVIDEND
GROWERS
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
64
EUDV
::
Investments
Shares
Value
Common
Stocks
—
98.9%
Aerospace
&
Defense
—
2.3%
BAE
Systems
plc
8,761
$
155,157
Air
Freight
&
Logistics
—
2.2%
DSV
A/S
713
143,527
Beverages
—
2.2%
Diageo
plc
5,456
148,596
Building
Products
—
2.2%
Geberit
AG
(Registered)
249
145,826
Capital
Markets
—
2.1%
Partners
Group
Holding
AG
94
137,835
Chemicals
—
8.8%
Croda
International
plc
3,636
151,266
Givaudan
SA
(Registered)
33
148,422
Sika
AG
(Registered)
556
140,934
Symrise
AG,
Class
a
A
1,440
145,447
586,069
Construction
&
Engineering
—
2.2%
ACS
Actividades
de
Construccion
y
Servicios
SA
2,738
147,786
Diversified
Telecommunication
Services
—
4.6%
Elisa
OYJ
3,302
152,267
Telenor
ASA
11,821
153,289
305,556
Electric
Utilities
—
4.6%
Enel
SpA
20,703
151,988
Iberdrola
SA
10,568
153,321
305,309
Electrical
Equipment
—
2.1%
Schneider
Electric
SE
563
136,982
Electronic
Equipment,
Instruments
&
Components
—
2.1%
Halma
plc
3,945
139,086
Financial
Services
—
2.3%
Sofina
SA
607
149,866
Food
Products
—
9.2%
Chocoladefabriken
Lindt
&
Spruengli
AG,
Class
a
PC
13
164,112
Kerry
Group
plc,
Class
a
A
1,460
153,814
Lotus
Bakeries
NV
15
135,564
Nestle
SA
(Registered)
1,617
156,135
609,625
Health
Care
Equipment
&
Supplies
—
4.4%
Coloplast
A/S,
Class
a
B
1,318
140,422
DiaSorin
SpA
1,417
149,505
289,927
Investments
Shares
Value
Common
Stocks
(continued)
Industrial
Conglomerates
—
2.2%
DCC
plc
2,143
$
144,632
Industrial
REITs
—
2.2%
Segro
plc,
REIT
16,399
145,409
Insurance
—
4.5%
Legal
&
General
Group
plc
48,304
148,831
Swiss
Life
Holding
AG
(Registered)
172
149,610
298,441
Machinery
—
2.1%
Spirax
Group
plc
1,494
136,855
Multi-Utilities
—
2.3%
National
Grid
plc
12,409
152,342
Pharmaceuticals
—
13.4%
Novartis
AG
(Registered)
1,385
149,913
Novo
Nordisk
A/S,
Class
a
B
1,793
161,150
Recordati
Industria
Chimica
e
Farmaceutica
SpA
2,356
133,048
Roche
Holding
AG
452
149,890
Sanofi
SA
1,361
147,715
UCB
SA
766
144,630
886,346
Professional
Services
—
3.9%
RELX
plc
2,906
139,704
Wolters
Kluwer
NV
795
122,036
261,740
Semiconductors
&
Semiconductor
Equipment
—
2.1%
ASML
Holding
NV
197
139,032
Software
—
6.2%
Nemetschek
SE
1,142
133,020
Sage
Group
plc
(The)
8,864
141,188
SAP
SE
507
139,887
414,095
Technology
Hardware,
Storage
&
Peripherals
—
2.1%
Logitech
International
SA
(Registered)
1,415
138,638
Trading
Companies
&
Distributors
—
4.4%
Brenntag
SE
2,175
144,361
Bunzl
plc
3,410
144,612
288,973
Water
Utilities
—
2.2%
United
Utilities
Group
plc
11,967
147,699
Total
Common
Stocks
(Cost
$6,388,622)
6,555,349
FEBRUARY
28,
2025
(Unaudited)
::
MSCI
EUROPE
DIVIDEND
GROWERS
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
65
EUDV
::
Investments
Principal
Amount
Value
Short-Term
Investments
—
0.2%
Repurchase
Agreements
(a)
—
0.2%
Repurchase
Agreements
with
various
counterparties,
rates
4.15%
-
4.36%,
dated
2/28/2025,
due
3/3/2025,
total
to
be
received
$16,248
(Cost
$16,243)
$
16,243
$
16,243
Total
Investments
—
99.1%
(Cost
$6,404,865)
6,571,592
Other
assets
less
liabilities
—
0.9%
58,762
Net
Assets
—
100.0%
$
6,630,354
(a)
The
Fund
invests
in
Repurchase
Agreements
jointly
with
other
funds
in
the
Trust.
See
"Repurchase
Agreements"
in
the
Notes
to
Schedules
of
Portfolio
Investments
to
view
the
details
of
each
individual
agreement
and
counterparty
as
well
as
a
description
of
the
securities
subject
to
repurchase.
Abbreviations
OYJ
Public
Limited
Company
REIT
Real
Estate
Investment
Trust
MSCI
Europe
Dividend
Growers
ETF
invested,
as
a
percentage
of
net
assets,
in
the
following
countries
as
of
February
28,
2025:
United
Kingdom
28.6%
Switzerland
22.4%
Germany
8.5%
Denmark
6.7%
Italy
6.6%
Belgium
6.5%
Spain
4.5%
France
4.3%
Netherlands
3.9%
Ireland
2.3%
Norway
2.3%
Finland
2.3%
Other
a
1.1%
100.0%
a
Includes
any
non-equity
securities
and
net
other
assets
(liabilities).
MSCI
TRANSFORMATIONAL
CHANGES
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
66
ANEW
::
Investments
Shares
Value
Common
Stocks
—
99.6%
Aerospace
&
Defense
—
0.2%
Kratos
Defense
&
Security
Solutions,
Inc.*
601
$
15,860
Biotechnology
—
3.6%
AbbVie,
Inc.
936
195,652
Beijing
Wantai
Biological
Pharmacy
Enterprise
Co.
Ltd.,
Class
a
A
1,500
13,815
CRISPR
Therapeutics
AG*
322
14,142
Moderna,
Inc.*
758
23,468
Natera,
Inc.*
273
42,476
Ultragenyx
Pharmaceutical,
Inc.*
329
14,121
303,674
Broadline
Retail
—
5.8%
Alibaba
Group
Holding
Ltd.
13,616
223,226
Amazon.com,
Inc.*
745
158,149
eBay,
Inc.
728
47,131
JD.com,
Inc.,
Class
a
A
2,474
51,089
479,595
Capital
Markets
—
0.5%
Coinbase
Global,
Inc.,
Class
a
A*
59
12,722
Robinhood
Markets,
Inc.,
Class
a
A*
522
26,152
38,874
Chemicals
—
9.2%
Corteva,
Inc.
2,765
174,140
FMC
Corp.
1,417
52,287
International
Flavors
&
Fragrances,
Inc.
1,775
145,213
Nutrien
Ltd.
3,377
176,979
Scotts
Miracle-Gro
Co.
(The)
466
27,293
Sensient
Technologies
Corp.
422
29,287
Symrise
AG,
Class
a
A
1,436
144,673
UPL
Ltd.
2,968
21,469
771,341
Communications
Equipment
—
0.8%
Cisco
Systems,
Inc.
519
33,273
F5,
Inc.*
68
19,886
Juniper
Networks,
Inc.
436
15,783
68,942
Consumer
Finance
—
0.2%
Bread
Financial
Holdings,
Inc.
296
15,984
Consumer
Staples
Distribution
&
Retail
—
1.3%
Sprouts
Farmers
Market,
Inc.*
709
105,216
Diversified
Telecommunication
Services
—
0.4%
Cogent
Communications
Holdings,
Inc.
212
15,491
Iridium
Communications,
Inc.
578
18,241
33,732
Investments
Shares
Value
Common
Stocks
(continued)
Electronic
Equipment,
Instruments
&
Components
—
1.7%
Cognex
Corp.
402
$
13,186
Trimble,
Inc.*
1,733
124,741
137,927
Entertainment
—
7.9%
Electronic
Arts,
Inc.
277
35,766
International
Games
System
Co.
Ltd.
1,423
42,587
Konami
Group
Corp.
483
58,701
Netflix,
Inc.*
191
187,287
Nintendo
Co.
Ltd.
3,046
225,817
Sea
Ltd.,
ADR*
425
54,090
Take-Two
Interactive
Software,
Inc.*
245
51,935
656,183
Financial
Services
—
3.9%
Adyen
NV*(a)
12
21,675
Euronet
Worldwide,
Inc.*
161
16,496
Mastercard,
Inc.,
Class
a
A
125
72,039
PayPal
Holdings,
Inc.*
191
13,570
Toast,
Inc.,
Class
a
A*
2,440
94,184
Visa,
Inc.,
Class
a
A
253
91,766
Western
Union
Co.
(The)
1,570
17,003
326,733
Food
Products
—
4.7%
Glanbia
plc
1,173
13,482
Kerry
Group
plc,
Class
a
A
1,536
161,408
McCormick
&
Co.,
Inc.
(Non-Voting)
2,099
173,399
Simply
Good
Foods
Co.
(The)*
1,116
42,129
390,418
Health
Care
Equipment
&
Supplies
—
12.8%
Abbott
Laboratories
1,369
188,936
Becton
Dickinson
&
Co.
668
150,654
Boston
Scientific
Corp.*
1,797
186,511
Dexcom,
Inc.*
920
81,300
Edwards
Lifesciences
Corp.*
1,391
99,624
Globus
Medical,
Inc.,
Class
a
A*
194
15,582
ICU
Medical,
Inc.*
92
13,462
Inspire
Medical
Systems,
Inc.*
88
16,332
Intuitive
Surgical,
Inc.*
295
169,079
iRhythm
Technologies,
Inc.*
184
20,270
Neogen
Corp.*
2,415
24,271
PROCEPT
BioRobotics
Corp.*
174
11,195
ResMed,
Inc.
337
78,696
TransMedics
Group,
Inc.*
173
13,203
1,069,115
Health
Care
Providers
&
Services
—
1.5%
Acadia
Healthcare
Co.,
Inc.*
402
12,052
Guardant
Health,
Inc.*
507
21,573
Henry
Schein,
Inc.*
237
17,104
Hims
&
Hers
Health,
Inc.*
580
26,152
FEBRUARY
28,
2025
(Unaudited)
::
MSCI
TRANSFORMATIONAL
CHANGES
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
67
ANEW
::
Investments
Shares
Value
Common
Stocks
(continued)
Quest
Diagnostics,
Inc.
258
$
44,608
121,489
Hotels,
Restaurants
&
Leisure
—
5.1%
Booking
Holdings,
Inc.
32
160,512
DoorDash,
Inc.,
Class
a
A*
906
179,787
DraftKings,
Inc.,
Class
a
A*
1,077
47,237
Trip.com
Group
Ltd.*
708
39,747
427,283
Interactive
Media
&
Services
—
8.8%
Alphabet,
Inc.,
Class
a
A
703
119,707
Kuaishou
Technology*(a)
6,746
43,892
Meta
Platforms,
Inc.,
Class
a
A
276
184,423
Pinterest,
Inc.,
Class
a
A*
1,504
55,618
REA
Group
Ltd.
287
42,412
Reddit,
Inc.,
Class
a
A*
338
54,682
Snap,
Inc.,
Class
a
A*
4,014
41,143
Tencent
Holdings
Ltd.
3,053
187,882
729,759
IT
Services
—
1.0%
Akamai
Technologies,
Inc.*
188
15,168
Cloudflare,
Inc.,
Class
a
A*
177
25,718
GDS
Holdings
Ltd.,
Class
a
A*
5,777
26,482
Okta,
Inc.,
Class
a
A*
213
19,274
86,642
Life
Sciences
Tools
&
Services
—
2.8%
Danaher
Corp.
661
137,329
Illumina,
Inc.*
365
32,390
Medpace
Holdings,
Inc.*
44
14,402
QIAGEN
NV*
365
13,945
West
Pharmaceutical
Services,
Inc.
166
38,569
236,635
Machinery
—
4.5%
AGCO
Corp.
736
71,370
CNH
Industrial
NV
7,525
96,922
Deere
&
Co.
410
197,124
SMC
Corp.
38
13,631
379,047
Media
—
0.4%
Omnicom
Group,
Inc.
436
36,083
Pharmaceuticals
—
4.3%
Eli
Lilly
&
Co.
195
179,523
Roche
Holding
AG
532
176,282
355,805
Professional
Services
—
0.2%
Paylocity
Holding
Corp.*
79
16,139
Semiconductors
&
Semiconductor
Equipment
—
5.1%
Advanced
Micro
Devices,
Inc.*
152
15,179
Broadcom,
Inc.
671
133,818
MediaTek,
Inc.
432
19,946
Investments
Shares
Value
Common
Stocks
(continued)
NVIDIA
Corp.
1,090
$
136,163
NXP
Semiconductors
NV
75
16,169
QUALCOMM,
Inc.
234
36,778
Semtech
Corp.*
340
12,985
Silicon
Laboratories,
Inc.*
157
22,027
Synaptics,
Inc.*
224
14,815
Universal
Display
Corp.
99
15,208
423,088
Software
—
10.3%
Adobe,
Inc.*
298
130,691
Altair
Engineering,
Inc.,
Class
a
A*
161
17,968
ANSYS,
Inc.*
131
43,656
Blackbaud,
Inc.*
192
12,691
BlackLine,
Inc.*
267
12,896
Box,
Inc.,
Class
a
A*
481
15,729
C3.ai,
Inc.,
Class
a
A*
612
14,351
Check
Point
Software
Technologies
Ltd.*
94
20,704
Cleanspark,
Inc.*
1,113
8,893
Commvault
Systems,
Inc.*
94
16,033
Core
Scientific,
Inc.*
1,033
11,528
Crowdstrike
Holdings,
Inc.,
Class
a
A*
48
18,704
CyberArk
Software
Ltd.*
57
20,739
DocuSign,
Inc.,
Class
a
A*
204
16,967
DoubleVerify
Holdings,
Inc.*
820
11,398
Dropbox,
Inc.,
Class
a
A*
597
15,510
Five9,
Inc.*
413
14,951
Gen
Digital,
Inc.
546
14,922
MARA
Holdings,
Inc.*
768
10,690
Microsoft
Corp.
373
148,077
MicroStrategy,
Inc.,
Class
a
A*
51
13,027
Oracle
Corp.
235
39,024
Palo
Alto
Networks,
Inc.*
100
19,043
Procore
Technologies,
Inc.*
227
17,359
Q2
Holdings,
Inc.*
161
14,067
Riot
Platforms,
Inc.*
1,316
12,212
Rubrik,
Inc.,
Class
a
A*
374
24,355
Salesforce,
Inc.
74
22,041
SAP
SE
138
37,979
ServiceNow,
Inc.*
19
17,665
Tenable
Holdings,
Inc.*
397
15,142
Trend
Micro,
Inc.
319
23,289
Varonis
Systems,
Inc.,
Class
a
B*
313
13,450
Workday,
Inc.,
Class
a
A*
60
15,800
861,551
Specialized
REITs
—
0.2%
Equinix,
Inc.,
REIT
18
16,283
Technology
Hardware,
Storage
&
Peripherals
—
2.4%
Apple,
Inc.
711
171,948
IonQ,
Inc.*
623
15,307
NetApp,
Inc.
139
13,874
201,129
Total
Common
Stocks
(Cost
$6,884,832)
8,304,527
MSCI
TRANSFORMATIONAL
CHANGES
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
68
ANEW
::
Investments
Principal
Amount
Value
Short-Term
Investments
—
0.2%
Repurchase
Agreements
(b)
—
0.2%
Repurchase
Agreements
with
various
counterparties,
rates
4.15%
-
4.36%,
dated
2/28/2025,
due
3/3/2025,
total
to
be
received
$19,060
(Cost
$19,055)
$
19,055
$
19,055
Total
Investments
—
99.8%
(Cost
$6,903,887)
8,323,582
Other
assets
less
liabilities
—
0.2%
20,148
Net
Assets
—
100.0%
$
8,343,730
*
Non-income
producing
security.
(a)
Security
exempt
from
registration
pursuant
to
Regulation
S
under
the
Securities
Act
of
1933.
Regulation
S
applies
to
securities
offerings
that
are
made
outside
of
the
United
States
and
do
not
involve
direct
selling
efforts
in
the
United
States
and
as
such
may
have
restrictions
on
resale.
(b)
The
Fund
invests
in
Repurchase
Agreements
jointly
with
other
funds
in
the
Trust.
See
"Repurchase
Agreements"
in
the
Notes
to
Schedules
of
Portfolio
Investments
to
view
the
details
of
each
individual
agreement
and
counterparty
as
well
as
a
description
of
the
securities
subject
to
repurchase.
Abbreviations
ADR
American
Depositary
Receipt
REIT
Real
Estate
Investment
Trust
MSCI
Transformational
Changes
ETF
invested,
as
a
percentage
of
net
assets,
in
the
following
countries
as
of
February
28,
2025:
United
States
77.0%
China
7.0%
Japan
3.9%
Germany
2.4%
Canada
2.1%
Switzerland
2.1%
Ireland
2.1%
Taiwan
0.8%
Singapore
0.6%
Australia
0.5%
Israel
0.5%
Netherlands
0.3%
India
0.3%
Other
a
0.4%
100.0%
a
Includes
any
non-equity
securities
and
net
other
assets
(liabilities).
FEBRUARY
28,
2025
(Unaudited)
::
NANOTECHNOLOGY
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
69
TINY
::
Investments
Shares
Value
Common
Stocks
—
99.8%
Biotechnology
—
3.2%
Novavax,
Inc.*(a)
19,978
$
166,417
Chemicals
—
1.4%
Advanced
Nano
Products
Co.
Ltd.
1,522
73,972
Construction
&
Engineering
—
0.7%
Jeio
Co.
Ltd.*
3,965
36,590
Electronic
Equipment,
Instruments
&
Components
—
15.0%
Coherent
Corp.*
2,801
210,607
Jeol
Ltd.
6,432
209,323
Lightwave
Logic,
Inc.*(a)
15,064
18,227
nLight,
Inc.*
6,005
55,066
Oxford
Instruments
plc
7,244
174,590
Park
Systems
Corp.
872
123,388
791,201
Life
Sciences
Tools
&
Services
—
11.1%
Agilent
Technologies,
Inc.
2,062
263,771
Alpha
Teknova,
Inc.*
6,652
43,238
Bruker
Corp.
4,636
218,912
Maravai
LifeSciences
Holdings,
Inc.,
Class
a
A*
17,664
56,878
582,799
Semiconductors
&
Semiconductor
Equipment
—
68.4%
ACM
Research,
Inc.,
Class
a
A*
7,169
185,964
Applied
Materials,
Inc.
1,439
227,463
ASML
Holding
NV
373
262,572
Axcelis
Technologies,
Inc.*
2,986
163,603
Entegris,
Inc.
2,556
258,718
Intel
Corp.
11,835
280,845
KLA
Corp.
399
282,827
Lam
Research
Corp.
3,455
265,137
NVIDIA
Corp.
1,896
236,848
Onto
Innovation,
Inc.*
1,313
191,252
SCREEN
Holdings
Co.
Ltd.
4,282
303,510
SkyWater
Technology,
Inc.*
5,925
55,280
SUSS
MicroTec
SE
2,386
92,446
Taiwan
Semiconductor
Manufacturing
Co.
Ltd.,
ADR
1,324
239,022
Tower
Semiconductor
Ltd.*
5,995
254,787
Ultra
Clean
Holdings,
Inc.*
5,619
138,227
Veeco
Instruments,
Inc.*
7,086
157,593
3,596,094
Total
Common
Stocks
(Cost
$5,630,071)
5,247,073
Investments
Shares
Value
Securities
Lending
Reinvestments
(b)
—
3.1%
Investment
Companies
—
3.1%
Invesco
Government
&
Agency
Portfolio,
Institutional
Class
4.29%
(c)
(Cost
$165,318)
165,318
$
165,318
Total
Investments
—
102.9%
(Cost
$5,795,389)
5,412,391
Liabilities
in
excess
of
other
assets
—
(2.9%)
(150,880)
Net
Assets
—
100.0%
$
5,261,511
*
Non-income
producing
security.
(a)
The
security
or
a
portion
of
this
security
is
on
loan
at
February
28,
2025.
The
total
value
of
securities
on
loan
at
February
28,
2025
was
$184,635,
collateralized
in
the
form
of
cash
with
a
value
of
$165,318
that
was
reinvested
in
the
securities
shown
in
the
Securities
Lending
Reinvestment
section
of
the
Schedule
of
Portfolio
Investments.
The
market
value
of
the
loaned
securities
is
determined
at
the
close
of
each
business
day
of
the
Fund
and
any
additional
required
collateral
is
delivered
to
the
Fund,
or
excess
collateral
returned
by
the
Fund,
on
the
next
business
day.
(b)
The
security
was
purchased
with
cash
collateral
held
from
securities
on
loan
at
February
28,
2025.
The
total
value
of
securities
purchased
was
$165,318.
(c)
Rate
shown
is
the
7-day
yield
as
of
February
28,
2025.
Abbreviations
ADR
American
Depositary
Receipt
NANOTECHNOLOGY
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
70
TINY
::
Nanotechnology
ETF
invested,
as
a
percentage
of
net
assets,
in
the
following
countries
as
of
February
28,
2025:
United
States
70.9%
Japan
9.8%
Netherlands
5.0%
Taiwan
4.5%
South
Korea
4.5%
United
Kingdom
3.3%
Germany
1.8%
Other
a
0.2%
100.0%
a
Includes
any
non-equity
securities
and
net
other
assets
(liabilities).
FEBRUARY
28,
2025
(Unaudited)
::
NASDAQ-100
DORSEY
WRIGHT
MOMENTUM
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
71
QQQA
::
Investments
Shares
Value
Common
Stocks
—
99
.9
%
Automobiles
—
3.5%
Tesla,
Inc.*
1,445
$
423,356
Broadline
Retail
—
4.6%
Amazon.com,
Inc.*
2,605
552,989
Commercial
Services
&
Supplies
—
5.1%
Cintas
Corp.
3,014
625,405
Consumer
Staples
Distribution
&
Retail
—
5.2%
Costco
Wholesale
Corp.
608
637,555
Electric
Utilities
—
3.9%
Constellation
Energy
Corp.
1,869
468,269
Entertainment
—
5.5%
Netflix,
Inc.*
681
667,761
Financial
Services
—
4.0%
PayPal
Holdings,
Inc.*
6,844
486,266
Health
Care
Equipment
&
Supplies
—
4.9%
Intuitive
Surgical,
Inc.*
1,043
597,795
Hotels,
Restaurants
&
Leisure
—
16.4%
Booking
Holdings,
Inc.
121
606,937
DoorDash,
Inc.,
Class
a
A*
3,354
665,568
Starbucks
Corp.
6,185
716,285
1,988,790
Interactive
Media
&
Services
—
5.1%
Meta
Platforms,
Inc.,
Class
a
A
926
618,753
Media
—
2.8%
Trade
Desk,
Inc.
(The),
Class
a
A*
4,802
337,677
Semiconductors
&
Semiconductor
Equipment
—
16.7%
ARM
Holdings
plc,
ADR*
4,061
534,793
Broadcom,
Inc.
2,543
507,151
Marvell
Technology,
Inc.
4,990
458,182
NVIDIA
Corp.
4,198
524,414
2,024,540
Software
—
16.2%
AppLovin
Corp.,
Class
a
A*
1,791
583,400
Atlassian
Corp.,
Class
a
A*
2,354
669,148
Palantir
Technologies,
Inc.,
Class
a
A*
8,481
720,207
1,972,755
Wireless
Telecommunication
Services
—
6.0%
T-Mobile
US,
Inc.
2,700
728,163
Total
Common
Stocks
(Cost
$9,985,787)
12,130,074
Investments
Principal
Amount
Value
Short-Term
Investments
—
0
.1
%
Repurchase
Agreements
(a)
—
0
.1
%
Repurchase
Agreements
with
various
counterparties,
rates
4.15%
-
4.36%,
dated
2/28/2025,
due
3/3/2025,
total
to
be
received
$10,509
(Cost
$10,506)
$
10,506
$
10,506
Total
Investments
—
100.0%
(Cost
$9,996,293)
12,140,580
Other
assets
less
liabilities
—
0.0%(b)
1,606
Net
Assets
—
100.0%
$
12,142,186
*
Non-income
producing
security.
(a)
The
Fund
invests
in
Repurchase
Agreements
jointly
with
other
funds
in
the
Trust.
See
"Repurchase
Agreements"
in
the
Notes
to
Schedules
of
Portfolio
Investments
to
view
the
details
of
each
individual
agreement
and
counterparty
as
well
as
a
description
of
the
securities
subject
to
repurchase.
(b)
Represents
less
than
0.05%
of
net
assets.
Abbreviations
ADR
American
Depositary
Receipt
NASDAQ-100
HIGH
INCOME
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
72
IQQQ
::
Investments
Shares
Value
Common
Stocks
(a)
—
91.9%
Aerospace
&
Defense
—
0.2%
Axon
Enterprise,
Inc.*
451
$
238,331
Automobiles
—
2.5%
Tesla,
Inc.*
8,780
2,572,364
Beverages
—
2.1%
Coca-Cola
Europacific
Partners
plc
2,744
236,697
Keurig
Dr
Pepper,
Inc.
8,082
270,909
Monster
Beverage
Corp.*
5,798
316,861
PepsiCo,
Inc.
8,170
1,253,850
2,078,317
Biotechnology
—
3.1%
Amgen,
Inc.
3,202
986,408
Biogen,
Inc.*
867
121,813
Gilead
Sciences,
Inc.
7,422
848,409
Regeneron
Pharmaceuticals,
Inc.
643
449,290
Vertex
Pharmaceuticals,
Inc.*
1,538
737,917
3,143,837
Broadline
Retail
—
6.4%
Amazon.com,
Inc.*
25,451
5,402,738
MercadoLibre,
Inc.*
303
642,927
PDD
Holdings,
Inc.,
ADR*
3,971
451,463
6,497,128
Chemicals
—
1.3%
Linde
plc
2,835
1,324,087
Commercial
Services
&
Supplies
—
0.8%
Cintas
Corp.
2,401
498,207
Copart,
Inc.*
5,742
314,662
812,869
Communications
Equipment
—
1.5%
Cisco
Systems,
Inc.
23,720
1,520,689
Consumer
Staples
Distribution
&
Retail
—
2.7%
Costco
Wholesale
Corp.
2,644
2,772,525
Electric
Utilities
—
1.3%
American
Electric
Power
Co.,
Inc.
3,169
336,072
Constellation
Energy
Corp.
1,864
467,016
Exelon
Corp.
5,990
264,758
Xcel
Energy,
Inc.
3,419
246,510
1,314,356
Electronic
Equipment,
Instruments
&
Components
—
0.1%
CDW
Corp.
791
140,956
Energy
Equipment
&
Services
—
0.3%
Baker
Hughes
Co.,
Class
a
A
5,896
262,903
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Entertainment
—
3.1%
Electronic
Arts,
Inc.
1,564
$
201,944
Netflix,
Inc.*
2,546
2,496,506
Take-Two
Interactive
Software,
Inc.*
1,046
221,731
Warner
Bros
Discovery,
Inc.*
14,614
167,476
3,087,657
Financial
Services
—
0.4%
PayPal
Holdings,
Inc.*
5,967
423,955
Food
Products
—
0.7%
Kraft
Heinz
Co.
(The)
7,203
221,204
Mondelez
International,
Inc.,
Class
a
A
7,967
511,721
732,925
Ground
Transportation
—
0.6%
CSX
Corp.
11,489
367,763
Old
Dominion
Freight
Line,
Inc.
1,271
224,331
592,094
Health
Care
Equipment
&
Supplies
—
1.9%
Dexcom,
Inc.*
2,323
205,283
GE
HealthCare
Technologies,
Inc.
2,722
237,767
IDEXX
Laboratories,
Inc.*
489
213,747
Intuitive
Surgical,
Inc.*
2,123
1,216,797
1,873,594
Hotels,
Restaurants
&
Leisure
—
3.0%
Airbnb,
Inc.,
Class
a
A*
2,578
358,007
Booking
Holdings,
Inc.
197
988,154
DoorDash,
Inc.,
Class
a
A*
2,314
459,190
Marriott
International,
Inc.,
Class
a
A
1,655
464,145
Starbucks
Corp.
6,752
781,949
3,051,445
Industrial
Conglomerates
—
0.8%
Honeywell
International,
Inc.
3,873
824,523
Interactive
Media
&
Services
—
8.1%
Alphabet,
Inc.,
Class
a
A
14,142
2,408,100
Alphabet,
Inc.,
Class
a
C
13,395
2,306,887
Meta
Platforms,
Inc.,
Class
a
A
5,275
3,524,755
8,239,742
IT
Services
—
0.4%
Cognizant
Technology
Solutions
Corp.,
Class
a
A
2,952
245,990
MongoDB,
Inc.,
Class
a
A*
440
117,669
363,659
Machinery
—
0.3%
PACCAR,
Inc.
3,123
334,911
FEBRUARY
28,
2025
(Unaudited)
::
NASDAQ-100
HIGH
INCOME
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
73
IQQQ
::
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Media
—
1.3%
Charter
Communications,
Inc.,
Class
a
A*
845
$
307,216
Comcast
Corp.,
Class
a
A
22,735
815,732
Trade
Desk,
Inc.
(The),
Class
a
A*
2,678
188,317
1,311,265
Oil,
Gas
&
Consumable
Fuels
—
0.3%
Diamondback
Energy,
Inc.
1,736
275,955
Pharmaceuticals
—
0.3%
AstraZeneca
plc,
ADR
3,468
264,296
Professional
Services
—
1.3%
Automatic
Data
Processing,
Inc.
2,429
765,572
Paychex,
Inc.
2,143
325,029
Verisk
Analytics,
Inc.,
Class
a
A
840
249,404
1,340,005
Real
Estate
Management
&
Development
—
0.2%
CoStar
Group,
Inc.*
2,441
186,126
Semiconductors
&
Semiconductor
Equipment
—
19.5%
Advanced
Micro
Devices,
Inc.*
9,661
964,747
Analog
Devices,
Inc.
2,953
679,367
Applied
Materials,
Inc.
4,908
775,808
ARM
Holdings
plc,
ADR*
762
100,348
ASML
Holding
NV
(Registered),
ADR
531
376,521
Broadcom,
Inc.
18,697
3,728,743
GLOBALFOUNDRIES,
Inc.*
3,296
127,786
Intel
Corp.
25,690
609,624
KLA
Corp.
797
564,946
Lam
Research
Corp.
7,664
588,135
Marvell
Technology,
Inc.
5,157
473,516
Microchip
Technology,
Inc.
3,199
188,293
Micron
Technology,
Inc.
6,634
621,141
NVIDIA
Corp.
59,272
7,404,258
NXP
Semiconductors
NV
1,514
326,403
ON
Semiconductor
Corp.*
2,539
119,460
QUALCOMM,
Inc.
6,615
1,039,680
Texas
Instruments,
Inc.
5,433
1,064,814
19,753,590
Software
—
15.6%
Adobe,
Inc.*
2,623
1,150,343
ANSYS,
Inc.*
521
173,623
AppLovin
Corp.,
Class
a
A*
1,776
578,514
Atlassian
Corp.,
Class
a
A*
963
273,742
Autodesk,
Inc.*
1,280
350,989
Cadence
Design
Systems,
Inc.*
1,632
408,816
Crowdstrike
Holdings,
Inc.,
Class
a
A*
1,390
541,627
Datadog,
Inc.,
Class
a
A*
1,865
217,366
Fortinet,
Inc.*
4,564
492,958
Intuit,
Inc.
1,668
1,023,885
Microsoft
Corp.
17,994
7,143,438
MicroStrategy,
Inc.,
Class
a
A*
1,379
352,238
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Palantir
Technologies,
Inc.,
Class
a
A*
12,986
$
1,102,771
Palo
Alto
Networks,
Inc.*
3,906
743,820
Roper
Technologies,
Inc.
637
372,327
Synopsys,
Inc.*
916
418,869
Workday,
Inc.,
Class
a
A*
1,269
334,178
Zscaler,
Inc.*
914
179,354
15,858,858
Specialty
Retail
—
0.7%
O'Reilly
Automotive,
Inc.*
344
472,532
Ross
Stores,
Inc.
1,976
277,273
749,805
Technology
Hardware,
Storage
&
Peripherals
—
8.7%
Apple,
Inc.
36,584
8,847,475
Textiles,
Apparel
&
Luxury
Goods
—
0.3%
Lululemon
Athletica,
Inc.*
705
257,755
Trading
Companies
&
Distributors
—
0.3%
Fastenal
Co.
3,410
258,239
Wireless
Telecommunication
Services
—
1.8%
T-Mobile
US,
Inc.
6,910
1,863,558
Total
Common
Stocks
(Cost
$90,444,073)
93,169,794
Principal
Amount
Short-Term
Investments
—
8.3%
Repurchase
Agreements
(b)
—
8.3%
Repurchase
Agreements
with
various
counterparties,
rates
4.15%
-
4.36%,
dated
2/28/2025,
due
3/3/2025,
total
to
be
received
$8,373,354
(Cost
$8,370,334)
$
8,370,334
8,370,334
Total
Investments
—
100.2%
(Cost
$98,814,407)
101,540,128
Liabilities
in
excess
of
other
assets
—
(0.2%)
(155,137)
Net
Assets
—
100.0%
$
101,384,991
*
Non-income
producing
security.
(a)
All
or
a
portion
of
these
securities
are
segregated
in
connection
with
obligations
for
swaps
with
a
total
value
of
$22,184,724.
(b)
The
Fund
invests
in
Repurchase
Agreements
jointly
with
other
funds
in
the
Trust.
See
"Repurchase
Agreements"
in
the
Notes
to
Schedules
of
Portfolio
Investments
to
view
the
details
of
each
individual
agreement
and
counterparty
as
well
as
a
description
of
the
securities
subject
to
repurchase.
Abbreviations
ADR
American
Depositary
Receipt
NASDAQ-100
HIGH
INCOME
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
74
IQQQ
::
Futures
Contracts
Purchased
Nasdaq-100
High
Income
ETF
had
the
following
open
long
futures
contracts
as
of
February
28,
2025:
Number
of
Contracts
AAAAAA
Expiration
Date
AAAAAA
Trading
Currency
AA
Notional
Amount
AAAAAA
Value
and
Unrealized
Depreciation
AAAAAA
Nasdaq
100
E-Mini
Index
18
3/21/2025
U.S.
Dollar
$
7,531,020
$
(413,204)
Swap
Agreements
Nasdaq-100
High
Income
ETF
had
the
following
open
non-exchange
traded
total
return
swap
agreements
as
of
February
28,
2025:
Notional
Amount  
($)
Termination
Date
a
Counterparty
Rate
Paid
(Received)
b
Reference
Instrument
Value
and
Unrealized
Depreciation
($)
100,670,491
11/6/2025
Goldman
Sachs
International
N/A
Nasdaq-100
Daily
Covered
Call
Index
(620,830)
100,670,491
(620,830)
Total
Unrealized
Depreciation
(620,830)
a
Agreements
may
be
terminated
at
will
by
either
party
without
penalty.
Payment
is
due
at
termination/maturity.
b
No
financing
fee
is
paid
or
received
on
this
swap.
The
fund
receives
the
appreciation
on
the
Reference
Instrument
from
the
counterparty
and
pays
the
deprecation
on
the
Reference
Instrument
to
the
counterparty.
This
amount
is
included
as
part
of
the
unrealized
appreciation/
(depreciation).
FEBRUARY
28,
2025
(Unaudited)
::
ON
DEMAND
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
75
OND
::
Investments
Shares
Value
Common
Stocks
—
100.0%
Entertainment
—
53.8%
Capcom
Co.
Ltd.
3,404
$
83,689
CD
Projekt
SA
712
39,004
Electronic
Arts,
Inc.
475
61,332
International
Games
System
Co.
Ltd.
2,558
76,555
Krafton,
Inc.*
311
73,025
NCSoft
Corp.*
189
21,976
NetEase,
Inc.
4,334
86,267
Netflix,
Inc.*
85
83,348
Nexon
Co.
Ltd.
4,355
58,540
ROBLOX
Corp.,
Class
a
A*
1,336
85,023
Spotify
Technology
SA*
159
96,674
Take-Two
Interactive
Software,
Inc.*
418
88,608
Tencent
Music
Entertainment
Group,
Class
a
A
12,875
80,789
934,830
Ground
Transportation
—
12.5%
Grab
Holdings
Ltd.,
Class
a
A*
15,421
74,792
Lyft,
Inc.,
Class
a
A*
3,848
51,332
Uber
Technologies,
Inc.*
1,199
91,136
217,260
Hotels,
Restaurants
&
Leisure
—
15.5%
Delivery
Hero
SE*(a)
2,096
60,924
DoorDash,
Inc.,
Class
a
A*
444
88,107
Just
Eat
Takeaway.com
NV*(a)
2,030
40,895
Meituan,
Class
a
B*(a)
3,797
79,094
269,020
Interactive
Media
&
Services
—
7.4%
Bilibili,
Inc.,
Class
a
Z*
3,189
64,091
Snap,
Inc.,
Class
a
A*
6,372
65,313
129,404
Leisure
Products
—
1.6%
Peloton
Interactive,
Inc.,
Class
a
A*
3,698
27,846
Investments
Shares
Value
Common
Stocks
(continued)
Passenger
Airlines
—
1.9%
Joby
Aviation,
Inc.*(b)
4,738
$
33,166
Semiconductors
&
Semiconductor
Equipment
—
5.5%
Ambarella,
Inc.*
422
25,923
NVIDIA
Corp.
556
69,456
95,379
Software
—
1.8%
Life360,
Inc.*
711
32,137
Total
Common
Stocks
(Cost
$1,737,311)
1,739,042
Securities
Lending
Reinvestments
(c)
—
1.1%
Investment
Companies
—
1.1%
Invesco
Government
&
Agency
Portfolio,
Institutional
Class
4.29%
(d)
(Cost
$19,679)
19,679
19,679
Total
Investments
—
101.1%
(Cost
$1,756,990)
1,758,721
Liabilities
in
excess
of
other
assets
—
(1.1%)
(19,848)
Net
Assets
—
100.0%
$
1,738,873
*
Non-income
producing
security.
(a)
Security
exempt
from
registration
pursuant
to
Regulation
S
under
the
Securities
Act
of
1933.
Regulation
S
applies
to
securities
offerings
that
are
made
outside
of
the
United
States
and
do
not
involve
direct
selling
efforts
in
the
United
States
and
as
such
may
have
restrictions
on
resale.
(b)
The
security
or
a
portion
of
this
security
is
on
loan
at
February
28,
2025.
The
total
value
of
securities
on
loan
at
February
28,
2025
was
$19,964,
collateralized
in
the
form
of
cash
with
a
value
of
$19,679
that
was
reinvested
in
the
securities
shown
in
the
Securities
Lending
Reinvestment
section
of
the
Schedule
of
Portfolio
Investments.
The
market
value
of
the
loaned
securities
is
determined
at
the
close
of
each
business
day
of
the
Fund
and
any
additional
required
collateral
is
delivered
to
the
Fund,
or
excess
collateral
returned
by
the
Fund,
on
the
next
business
day.
(c)
The
security
was
purchased
with
cash
collateral
held
from
securities
on
loan
at
February
28,
2025.
The
total
value
of
securities
purchased
was
$19,679.
(d)
Rate
shown
is
the
7-day
yield
as
of
February
28,
2025.
ON
DEMAND
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
76
OND
::
On-Demand
ETF
invested,
as
a
percentage
of
net
assets,
in
the
following
countries
as
of
February
28,
2025:
United
States
46.2%
Hong
Kong
9.6%
China
8.2%
Japan
8.2%
Luxembourg
5.6%
South
Korea
5.5%
Taiwan
4.4%
Singapore
4.3%
Germany
3.5%
Netherlands
2.3%
Poland
2.2%
Other
a
0.0%
100.0%
a
Includes
any
non-equity
securities
and
net
other
assets
(liabilities).
FEBRUARY
28,
2025
(Unaudited)
::
ONLINE
RETAIL
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
77
ONLN
::
Investments
Shares
Value
Common
Stocks
—
100
.0
%
Broadline
Retail
—
64.4%
Alibaba
Group
Holding
Ltd.,
ADR
35,482
$
4,701,720
Amazon.com,
Inc.*
83,309
17,684,835
Coupang,
Inc.*
135,933
3,221,612
eBay,
Inc.
112,843
7,305,456
Etsy,
Inc.*
54,591
2,794,513
Global-e
Online
Ltd.*
26,925
1,147,544
JD.com,
Inc.,
ADR
44,046
1,845,527
MercadoLibre,
Inc.*
1,029
2,183,404
Ozon
Holdings
plc,
ADR*‡
60,470
—
PDD
Holdings,
Inc.,
ADR*
46,601
5,298,068
46,182,679
Distributors
—
3.8%
GigaCloud
Technology,
Inc.,
Class
a
A*(a)
158,158
2,677,615
Entertainment
—
2.6%
Sea
Ltd.,
ADR*
14,823
1,886,523
Personal
Care
Products
—
1.7%
Oddity
Tech
Ltd.,
Class
a
A*(a)
25,000
1,190,500
Specialty
Retail
—
24.2%
Beyond,
Inc.*
383,067
2,447,798
Buckle,
Inc.
(The)
71,102
2,847,635
Carvana
Co.,
Class
a
A*
14,995
3,495,335
Chewy,
Inc.,
Class
a
A*
86,436
3,220,605
Revolve
Group,
Inc.,
Class
a
A*
101,089
2,684,924
Wayfair,
Inc.,
Class
a
A*
67,628
2,674,687
17,370,984
Textiles,
Apparel
&
Luxury
Goods
—
3.3%
Figs,
Inc.,
Class
a
A*(a)
517,598
2,365,423
Total
Common
Stocks
(Cost
$66,454,278)
71,673,724
Securities
Lending
Reinvestments
(b)
—
0
.8
%
Investment
Companies
—
0
.8
%
Invesco
Government
&
Agency
Portfolio,
Institutional
Class
4.29%
(c)
(Cost
$589,456)
589,456
589,456
Investments
Principal
Amount
Value
Short-Term
Investments
—
0
.1
%
Repurchase
Agreements
(d)
—
0
.1
%
Repurchase
Agreements
with
various
counterparties,
rates
4.15%
-
4.36%,
dated
2/28/2025,
due
3/3/2025,
total
to
be
received
$39,369
(Cost
$39,356)
$
39,356
$
39,356
Total
Investments
—
100.9%
(Cost
$67,083,090)
72,302,536
Liabilities
in
excess
of
other
assets
—
(0.9%)
(
614,365
)
Net
Assets
—
100.0%
$
71,688,171
*
Non-income
producing
security.
‡
Value
determined
using
significant
unobservable
inputs.
(a)
The
security
or
a
portion
of
this
security
is
on
loan
at
February
28,
2025.
The
total
value
of
securities
on
loan
at
February
28,
2025
was
$571,749,
collateralized
in
the
form
of
cash
with
a
value
of
$589,456
that
was
reinvested
in
the
securities
shown
in
the
Securities
Lending
Reinvestment
section
of
the
Schedule
of
Portfolio
Investments.
(b)
The
security
was
purchased
with
cash
collateral
held
from
securities
on
loan
at
February
28,
2025.
The
total
value
of
securities
purchased
was
$589,456.
(c)
Rate
shown
is
the
7-day
yield
as
of
February
28,
2025.
(d)
The
Fund
invests
in
Repurchase
Agreements
jointly
with
other
funds
in
the
Trust.
See
"Repurchase
Agreements"
in
the
Notes
to
Schedules
of
Portfolio
Investments
to
view
the
details
of
each
individual
agreement
and
counterparty
as
well
as
a
description
of
the
securities
subject
to
repurchase.
Abbreviations
ADR
American
Depositary
Receipt
PET
CARE
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
78
PAWZ
::
Investments
Shares
Value
Common
Stocks
—
99.1%
Distributors
—
0.0%(a)
Arata
Corp.
678
$
14,187
Food
Products
—
17.6%
Freshpet,
Inc.*
45,853
4,907,646
General
Mills,
Inc.
14,060
852,317
I-TAIL
Corp.
PCL,
NVDR
2,495,184
1,197,484
J
M
Smucker
Co.
(The)
2,656
293,568
Nestle
SA
(Registered)
29,112
2,808,835
10,059,850
Health
Care
Equipment
&
Supplies
—
14.3%
IDEXX
Laboratories,
Inc.*
13,369
5,843,723
Vimian
Group
AB*(b)
622,528
2,332,941
8,176,664
Health
Care
Providers
&
Services
—
6.6%
Cencora,
Inc.
4,623
1,172,116
CVS
Group
plc
199,943
2,565,385
Patterson
Cos.,
Inc.
1,988
61,906
3,799,407
Household
Products
—
8.9%
Central
Garden
&
Pet
Co.*
37,711
1,330,821
Colgate-Palmolive
Co.
20,742
1,891,048
Oil-Dri
Corp.
of
America
41,781
1,842,960
Spectrum
Brands
Holdings,
Inc.
645
49,949
5,114,778
Insurance
—
7.2%
Anicom
Holdings,
Inc.
287,531
1,012,332
Trupanion,
Inc.*
89,810
3,102,038
4,114,370
Pharmaceuticals
—
20.9%
Elanco
Animal
Health,
Inc.*
12,558
140,273
Merck
&
Co.,
Inc.
32,217
2,972,018
Virbac
SACA
8,066
2,547,832
Zoetis,
Inc.,
Class
a
A
37,729
6,309,798
11,969,921
Specialty
Retail
—
23.6%
Chewy,
Inc.,
Class
a
A*
157,723
5,876,759
Pet
Valu
Holdings
Ltd.
154,965
2,520,357
Petco
Health
&
Wellness
Co.,
Inc.,
Class
a
A*
596,246
1,603,902
Pets
at
Home
Group
plc
931,192
2,755,007
Tractor
Supply
Co.
13,636
754,752
13,510,777
Total
Common
Stocks
(Cost
$61,116,035)
56,759,954
Investments
Shares
Value
Securities
Lending
Reinvestments
(c)
—
0.1%
Investment
Companies
—
0.1%
Invesco
Government
&
Agency
Portfolio,
Institutional
Class
4.29%
(d)
(Cost
$30,955)
30,955
$
30,955
Principal
Amount
Short-Term
Investments
—
0.4%
Repurchase
Agreements
(e)
—
0.4%
Repurchase
Agreements
with
various
counterparties,
rates
4.15%
-
4.36%,
dated
2/28/2025,
due
3/3/2025,
total
to
be
received
$228,689
(Cost
$228,607)
$
228,607
228,607
Total
Investments
—
99.6%
(Cost
$61,375,597)
57,019,516
Other
assets
less
liabilities
—
0.4%
234,226
Net
Assets
—
100.0%
$
57,253,742
*
Non-income
producing
security.
(a)
Represents
less
than
0.05%
of
net
assets.
(b)
The
security
or
a
portion
of
this
security
is
on
loan
at
February
28,
2025.
The
total
value
of
securities
on
loan
at
February
28,
2025
was
$29,669,
collateralized
in
the
form
of
cash
with
a
value
of
$30,955
that
was
reinvested
in
the
securities
shown
in
the
Securities
Lending
Reinvestment
section
of
the
Schedule
of
Portfolio
Investments.
(c)
The
security
was
purchased
with
cash
collateral
held
from
securities
on
loan
at
February
28,
2025.
The
total
value
of
securities
purchased
was
$30,955.
(d)
Rate
shown
is
the
7-day
yield
as
of
February
28,
2025.
(e)
The
Fund
invests
in
Repurchase
Agreements
jointly
with
other
funds
in
the
Trust.
See
"Repurchase
Agreements"
in
the
Notes
to
Schedules
of
Portfolio
Investments
to
view
the
details
of
each
individual
agreement
and
counterparty
as
well
as
a
description
of
the
securities
subject
to
repurchase.
Abbreviations
NVDR
Non-Voting
Depositary
Receipt
FEBRUARY
28,
2025
(Unaudited)
::
PET
CARE
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
79
PAWZ
::
Pet
Care
ETF
invested,
as
a
percentage
of
net
assets,
in
the
following
countries
as
of
February
28,
2025:
United
States
68.1%
United
Kingdom
9.3%
Switzerland
4.9%
France
4.4%
Canada
4.4%
Sweden
4.1%
Thailand
2.1%
Japan
1.8%
Other
a
0.9%
100.0%
a
Includes
any
non-equity
securities
and
net
other
assets
(liabilities).
RUSSELL
2000
DIVIDEND
GROWERS
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
80
SMDV
::
Investments
Shares
Value
Common
Stocks
—
99
.8
%
Banks
—
25.6%
Associated
Banc-Corp.
295,389
$
7,340,417
Atlantic
Union
Bankshares
Corp.
181,247
6,465,080
Cadence
Bank
204,228
6,772,200
Community
Financial
System,
Inc.
111,868
7,080,126
First
Busey
Corp.
285,297
6,844,275
First
Interstate
BancSystem,
Inc.,
Class
a
A
222,956
6,844,749
First
Merchants
Corp.
178,427
7,815,103
Fulton
Financial
Corp.
361,726
7,169,409
German
American
Bancorp,
Inc.
170,583
6,809,673
Heritage
Financial
Corp.
294,032
7,430,189
Independent
Bank
Corp.
107,051
7,339,417
Independent
Bank
Corp.
202,079
6,866,644
Mercantile
Bank
Corp.
152,109
7,333,175
NBT
Bancorp,
Inc.
153,477
7,328,527
Orrstown
Financial
Services,
Inc.
195,150
6,537,525
Peoples
Bancorp,
Inc.
220,082
7,042,624
Preferred
Bank
81,970
7,274,838
S&T
Bancorp,
Inc.
179,134
7,204,769
Simmons
First
National
Corp.,
Class
a
A
316,958
6,963,567
Southside
Bancshares,
Inc.
220,271
6,773,333
Tompkins
Financial
Corp.
99,910
6,882,800
United
Bankshares,
Inc.
184,291
6,660,277
United
Community
Banks,
Inc.
226,572
7,302,416
Washington
Trust
Bancorp,
Inc.
210,957
6,775,939
WesBanco,
Inc.
425,999
14,939,785
183,796,857
Building
Products
—
1.6%
Apogee
Enterprises,
Inc.
92,600
4,439,244
Griffon
Corp.
94,410
6,829,619
11,268,863
Capital
Markets
—
0.9%
Cohen
&
Steers,
Inc.
76,373
6,675,000
Chemicals
—
4.6%
Avient
Corp.
154,092
6,590,515
Balchem
Corp.
43,277
7,531,496
HB
Fuller
Co.
101,708
5,770,912
Quaker
Chemical
Corp.
48,961
6,806,558
Stepan
Co.
102,564
6,334,353
33,033,834
Commercial
Services
&
Supplies
—
2.8%
ABM
Industries,
Inc.
133,758
7,267,072
HNI
Corp.
137,051
6,385,206
Matthews
International
Corp.,
Class
a
A
260,443
6,490,240
20,142,518
Consumer
Staples
Distribution
&
Retail
—
2.2%
Andersons,
Inc.
(The)
168,673
7,215,831
Investments
Shares
Value
Common
Stocks
(continued)
SpartanNash
Co.
412,403
$
8,326,417
15,542,248
Diversified
Telecommunication
Services
—
1.0%
Cogent
Communications
Holdings,
Inc.
98,312
7,183,658
Electric
Utilities
—
4.4%
ALLETE,
Inc.
119,044
7,820,000
Otter
Tail
Corp.
98,907
7,885,855
Portland
General
Electric
Co.
166,842
7,479,527
TXNM
Energy,
Inc.
155,748
8,137,833
31,323,215
Electronic
Equipment,
Instruments
&
Components
—
1.0%
Badger
Meter,
Inc.
34,241
7,201,910
Financial
Services
—
1.0%
HA
Sustainable
Infrastructure
Capital,
Inc.
246,964
7,095,276
Food
Products
—
2.0%
J
&
J
Snack
Foods
Corp.
46,028
6,049,920
Lancaster
Colony
Corp.
42,748
8,171,494
14,221,414
Gas
Utilities
—
5.4%
Chesapeake
Utilities
Corp.
59,214
7,516,033
New
Jersey
Resources
Corp.
156,224
7,558,117
Northwest
Natural
Holding
Co.
183,366
7,496,002
ONE
Gas,
Inc.
105,798
7,950,720
Spire,
Inc.
109,104
8,385,733
38,906,605
Health
Care
Equipment
&
Supplies
—
1.0%
LeMaitre
Vascular,
Inc.
75,979
6,978,671
Health
Care
Providers
&
Services
—
1.0%
Ensign
Group,
Inc.
(The)
53,269
6,879,691
Health
Care
REITs
—
2.0%
CareTrust
REIT,
Inc.
261,863
6,774,396
Universal
Health
Realty
Income
Trust,
REIT
191,073
7,627,634
14,402,030
Household
Products
—
2.3%
Oil-Dri
Corp.
of
America
225,773
9,958,847
WD-40
Co.
28,060
6,695,677
16,654,524
Industrial
REITs
—
1.2%
Terreno
Realty
Corp.,
REIT
129,410
8,776,586
Insurance
—
2.1%
AMERISAFE,
Inc.
139,590
7,183,301
Horace
Mann
Educators
Corp.
184,866
7,825,378
15,008,679
FEBRUARY
28,
2025
(Unaudited)
::
RUSSELL
2000
DIVIDEND
GROWERS
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
81
SMDV
::
Investments
Shares
Value
Common
Stocks
(continued)
Leisure
Products
—
0.9%
Johnson
Outdoors,
Inc.,
Class
a
A
229,482
$
6,173,066
Machinery
—
13.2%
Alamo
Group,
Inc.
39,181
6,855,892
Douglas
Dynamics,
Inc.
302,125
8,169,460
Enpro,
Inc.
39,809
7,248,423
Franklin
Electric
Co.,
Inc.
72,094
7,364,402
Gorman-Rupp
Co.
(The)
182,930
6,976,950
Hillenbrand,
Inc.
231,557
6,923,554
Hyster-Yale,
Inc.
139,641
7,096,556
Kadant,
Inc.(a)
18,824
7,049,212
Lindsay
Corp.
59,228
7,825,203
Mueller
Water
Products,
Inc.,
Class
a
A
303,678
7,822,745
Standex
International
Corp.
37,655
7,003,077
Trinity
Industries,
Inc.
202,292
6,289,258
Watts
Water
Technologies,
Inc.,
Class
a
A
35,707
7,662,008
94,286,740
Marine
Transportation
—
1.0%
Matson,
Inc.
50,834
7,323,654
Media
—
0.9%
John
Wiley
&
Sons,
Inc.,
Class
a
A
168,120
6,704,626
Metals
&
Mining
—
0.9%
Materion
Corp.
69,236
6,325,401
Mortgage
Real
Estate
Investment
Trusts
(REITs)
—
0.9%
Arbor
Realty
Trust,
Inc.(a)
536,901
6,625,358
Multi-Utilities
—
4.4%
Avista
Corp.
206,257
8,244,092
Black
Hills
Corp.
124,080
7,591,215
Northwestern
Energy
Group,
Inc.
143,796
8,042,510
Unitil
Corp.
132,948
7,458,383
31,336,200
Professional
Services
—
3.4%
CSG
Systems
International,
Inc.
141,597
9,104,687
Exponent,
Inc.
80,367
6,803,870
Insperity,
Inc.
92,667
8,151,916
24,060,473
Residential
REITs
—
1.0%
NexPoint
Residential
Trust,
Inc.,
REIT
166,516
7,085,256
Retail
REITs
—
1.0%
Getty
Realty
Corp.,
REIT
239,273
7,513,172
Semiconductors
&
Semiconductor
Equipment
—
1.0%
Power
Integrations,
Inc.
121,683
7,398,327
Investments
Shares
Value
Common
Stocks
(continued)
Tobacco
—
1.0%
Universal
Corp.
136,321
$
7,308,169
Trading
Companies
&
Distributors
—
3.2%
Applied
Industrial
Technologies,
Inc.
28,059
7,031,024
GATX
Corp.
47,772
7,980,313
McGrath
RentCorp
62,903
7,674,166
22,685,503
Water
Utilities
—
4.9%
American
States
Water
Co.
93,570
7,161,848
California
Water
Service
Group
157,763
7,170,328
Middlesex
Water
Co.
126,762
6,354,579
SJW
Group
144,991
7,636,676
York
Water
Co.
(The)
222,118
7,118,882
35,442,313
Total
Common
Stocks
(Cost
$641,007,845)
715,359,837
Securities
Lending
Reinvestments
(b)
—
1
.8
%
Investment
Companies
—
1
.8
%
Invesco
Government
&
Agency
Portfolio,
Institutional
Class
4.29%
(c)
(Cost
$13,160,672)
13,160,672
13,160,672
Principal
Amount
Short-Term
Investments
—
0
.2
%
Repurchase
Agreements
(d)
—
0
.2
%
Repurchase
Agreements
with
various
counterparties,
rates
4.15%
-
4.36%,
dated
2/28/2025,
due
3/3/2025,
total
to
be
received
$1,344,735
(Cost
$1,344,249)
$
1,344,249
1,344,249
Total
Investments
—
101.8%
(Cost
$655,512,766)
729,864,758
Liabilities
in
excess
of
other
assets
—
(1.8%)
(
12,994,020
)
Net
Assets
—
100.0%
$
716,870,738
RUSSELL
2000
DIVIDEND
GROWERS
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
82
SMDV
::
(a)
The
security
or
a
portion
of
this
security
is
on
loan
at
February
28,
2025.
The
total
value
of
securities
on
loan
at
February
28,
2025
was
$12,968,723,
collateralized
in
the
form
of
cash
with
a
value
of
$13,160,672
that
was
reinvested
in
the
securities
shown
in
the
Securities
Lending
Reinvestment
section
of
the
Schedule
of
Portfolio
Investments.
(b)
The
security
was
purchased
with
cash
collateral
held
from
securities
on
loan
at
February
28,
2025.
The
total
value
of
securities
purchased
was
$13,160,672.
(c)
Rate
shown
is
the
7-day
yield
as
of
February
28,
2025.
(d)
The
Fund
invests
in
Repurchase
Agreements
jointly
with
other
funds
in
the
Trust.
See
"Repurchase
Agreements"
in
the
Notes
to
Schedules
of
Portfolio
Investments
to
view
the
details
of
each
individual
agreement
and
counterparty
as
well
as
a
description
of
the
securities
subject
to
repurchase.
Abbreviations
REIT
Real
Estate
Investment
Trust
FEBRUARY
28,
2025
(Unaudited)
::
RUSSELL
2000
HIGH
INCOME
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
83
ITWO
::
Investments
Shares
Value
Common
Stocks
(a)
—
91.8%
Aerospace
&
Defense
—
1.3%
AAR
Corp.*
608
$
39,532
AeroVironment,
Inc.*
488
73,015
AerSale
Corp.*
584
4,088
Archer
Aviation,
Inc.,
Class
a
A*
4,060
36,053
Astronics
Corp.*
504
10,085
Byrna
Technologies,
Inc.*
301
7,745
Cadre
Holdings,
Inc.
452
15,196
Ducommun,
Inc.*
236
13,834
Eve
Holding,
Inc.*
889
3,654
Intuitive
Machines,
Inc.*
528
7,698
Kratos
Defense
&
Security
Solutions,
Inc.*
2,573
67,901
Leonardo
DRS,
Inc.*
1,279
38,946
Mercury
Systems,
Inc.*
906
40,235
Moog,
Inc.,
Class
a
A
495
84,393
National
Presto
Industries,
Inc.*
89
9,055
Park
Aerospace
Corp.
320
4,426
Redwire
Corp.*
397
5,546
Rocket
Lab
USA,
Inc.*
6,050
123,964
Triumph
Group,
Inc.*
1,276
32,385
V2X,
Inc.*
247
11,589
Virgin
Galactic
Holdings,
Inc.*
461
1,752
VirTra,
Inc.*
190
1,144
632,236
Air
Freight
&
Logistics
—
0.2%
Air
Transport
Services
Group,
Inc.*
892
19,918
Forward
Air
Corp.*
436
9,797
Hub
Group,
Inc.,
Class
a
A
1,040
42,744
Radiant
Logistics,
Inc.*
617
4,171
76,630
Automobile
Components
—
1.0%
Adient
plc*
1,512
23,935
American
Axle
&
Manufacturing
Holdings,
Inc.*
1,999
9,915
Cooper-Standard
Holdings,
Inc.*
293
4,436
Dana,
Inc.
2,270
33,755
Dorman
Products,
Inc.*
448
58,894
Fox
Factory
Holding
Corp.*
734
20,354
Gentherm,
Inc.*
535
17,698
Goodyear
Tire
&
Rubber
Co.
(The)*
4,954
46,815
Holley,
Inc.*
808
2,198
LCI
Industries
431
44,746
Luminar
Technologies,
Inc.,
Class
a
A
*(b)
389
2,023
Modine
Manufacturing
Co.*
900
76,104
Patrick
Industries,
Inc.
563
51,008
Phinia,
Inc.
728
35,898
Solid
Power,
Inc.*(b)
2,691
3,310
Standard
Motor
Products,
Inc.
364
10,385
Stoneridge,
Inc.*
475
2,669
Visteon
Corp.*
474
41,105
XPEL,
Inc.*(c)
439
14,676
499,924
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Automobiles
—
0.0%(d)
Livewire
Group,
Inc.*
316
$
727
Winnebago
Industries,
Inc.
493
19,922
20,649
Banks
—
9.9%
1st
Source
Corp.
320
20,768
ACNB
Corp.
146
5,982
Amalgamated
Financial
Corp.
312
10,124
Amerant
Bancorp,
Inc.,
Class
a
A
644
14,786
Ameris
Bancorp
1,144
73,880
Ames
National
Corp.
153
2,872
Arrow
Financial
Corp.
285
7,704
Associated
Banc-Corp.
2,811
69,853
Atlantic
Union
Bankshares
Corp.
1,554
55,431
Axos
Financial,
Inc.*
950
63,460
Banc
of
California,
Inc.
2,418
35,956
BancFirst
Corp.
346
41,299
Bancorp,
Inc.
(The)*
813
45,382
Bank
First
Corp.
168
17,596
Bank
of
Hawaii
Corp.
678
48,965
Bank
of
Marin
Bancorp
275
6,705
Bank
of
NT
Butterfield
&
Son
Ltd.
(The)
772
29,954
Bank7
Corp.
70
2,885
BankUnited,
Inc.
1,297
48,741
Bankwell
Financial
Group,
Inc.
111
3,518
Banner
Corp.
596
41,112
Bar
Harbor
Bankshares
261
8,383
BayCom
Corp.
182
5,005
BCB
Bancorp,
Inc.
262
2,654
Berkshire
Hills
Bancorp,
Inc.
745
21,225
Blue
Foundry
Bancorp*
350
3,476
Bridgewater
Bancshares,
Inc.*
346
5,017
Brookline
Bancorp,
Inc.
1,535
18,113
Burke
&
Herbert
Financial
Services
Corp.
235
14,655
Business
First
Bancshares,
Inc.
419
11,116
Byline
Bancorp,
Inc.
542
15,469
Cadence
Bank
3,168
105,051
California
BanCorp*
423
6,764
Camden
National
Corp.
252
11,083
Capital
Bancorp,
Inc.
159
4,851
Capital
City
Bank
Group,
Inc.
240
8,904
Capitol
Federal
Financial,
Inc.
2,157
12,769
Carter
Bankshares,
Inc.*
397
6,884
Cathay
General
Bancorp
1,209
56,763
Central
Pacific
Financial
Corp.
463
13,446
Chemung
Financial
Corp.
57
2,944
ChoiceOne
Financial
Services,
Inc.
147
4,673
Citizens
&
Northern
Corp.
260
5,551
Citizens
Financial
Services,
Inc.
79
4,777
City
Holding
Co.
252
29,985
Civista
Bancshares,
Inc.
266
5,482
CNB
Financial
Corp.
358
8,932
Coastal
Financial
Corp.*
198
19,549
Colony
Bankcorp,
Inc.
287
4,842
RUSSELL
2000
HIGH
INCOME
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
84
ITWO
::
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Columbia
Financial,
Inc.*
475
$
7,538
Community
Financial
System,
Inc.
909
57,531
Community
Trust
Bancorp,
Inc.
266
14,521
Community
West
Bancshares
294
5,671
ConnectOne
Bancorp,
Inc.
629
16,058
Customers
Bancorp,
Inc.*
515
27,810
CVB
Financial
Corp.
2,304
46,472
Dime
Community
Bancshares,
Inc.
615
19,065
Eagle
Bancorp,
Inc.
513
11,932
Eastern
Bankshares,
Inc.
3,356
60,039
Enterprise
Bancorp,
Inc.
172
7,422
Enterprise
Financial
Services
Corp.
644
38,048
Equity
Bancshares,
Inc.,
Class
a
A
249
10,692
Esquire
Financial
Holdings,
Inc.
122
9,409
ESSA
Bancorp,
Inc.
148
3,108
Farmers
&
Merchants
Bancorp,
Inc.
221
5,680
Farmers
National
Banc
Corp.
633
9,172
FB
Financial
Corp.
616
31,120
Fidelity
D&D
Bancorp,
Inc.
83
3,723
Financial
Institutions,
Inc.
263
7,369
First
Bancorp
2,815
54,808
First
Bancorp
695
29,162
First
Bancorp,
Inc.
(The)
186
4,884
First
Bancshares,
Inc.
(The)
529
18,869
First
Bank
368
5,623
First
Busey
Corp.
1,468
35,217
First
Business
Financial
Services,
Inc.
137
7,280
First
Commonwealth
Financial
Corp.
1,759
28,918
First
Community
Bankshares,
Inc.
294
12,330
First
Financial
Bancorp
1,642
45,007
First
Financial
Bankshares,
Inc.
2,261
85,149
First
Financial
Corp.
200
10,342
First
Financial
Northwest,
Inc.
121
2,577
First
Foundation,
Inc.
1,105
5,624
First
Internet
Bancorp
143
4,243
First
Interstate
BancSystem,
Inc.,
Class
a
A
1,379
42,335
First
Merchants
Corp.
1,015
44,457
First
Mid
Bancshares,
Inc.
398
15,164
First
of
Long
Island
Corp.
(The)
374
4,926
First
Western
Financial,
Inc.*
141
2,804
Five
Star
Bancorp
289
8,803
Flagstar
Financial,
Inc.
4,411
52,932
Flushing
Financial
Corp.
479
6,864
FS
Bancorp,
Inc.
115
4,532
Fulton
Financial
Corp.
3,158
62,592
FVCBankcorp,
Inc.*
290
3,425
German
American
Bancorp,
Inc.
496
19,800
Glacier
Bancorp,
Inc.
1,980
96,703
Great
Southern
Bancorp,
Inc.
150
8,852
Greene
County
Bancorp,
Inc.
121
3,134
Guaranty
Bancshares,
Inc.
137
5,542
Hancock
Whitney
Corp.
1,509
86,209
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Hanmi
Financial
Corp.
523
$
12,557
HarborOne
Bancorp,
Inc.
668
7,742
HBT
Financial,
Inc.
222
5,550
Heritage
Commerce
Corp.
1,036
10,992
Heritage
Financial
Corp.
587
14,833
Hilltop
Holdings,
Inc.
808
25,848
Hingham
Institution
For
Savings
(The)
28
7,272
Home
Bancorp,
Inc.
122
5,734
Home
BancShares,
Inc.
3,239
97,008
HomeStreet,
Inc.*
320
3,213
HomeTrust
Bancshares,
Inc.
257
9,437
Hope
Bancorp,
Inc.
2,017
22,026
Horizon
Bancorp,
Inc.
754
12,848
Independent
Bank
Corp.
346
11,757
Independent
Bank
Corp.
737
50,529
International
Bancshares
Corp.
940
62,980
Investar
Holding
Corp.
160
2,997
John
Marshall
Bancorp,
Inc.
218
4,066
Kearny
Financial
Corp.
953
6,661
Lakeland
Financial
Corp.
433
28,756
LCNB
Corp.
223
3,454
LINKBANCORP,
Inc.
386
2,941
Live
Oak
Bancshares,
Inc.
603
19,181
Mercantile
Bank
Corp.
274
13,210
Metrocity
Bankshares,
Inc.
322
9,750
Metropolitan
Bank
Holding
Corp.*
183
11,059
Mid
Penn
Bancorp,
Inc.
261
7,412
Middlefield
Banc
Corp.
126
3,377
Midland
States
Bancorp,
Inc.
357
6,919
MidWestOne
Financial
Group,
Inc.
322
9,805
MVB
Financial
Corp.
201
3,716
National
Bank
Holdings
Corp.,
Class
a
A
641
26,839
National
Bankshares,
Inc.
99
2,784
NB
Bancorp,
Inc.*
675
13,041
NBT
Bancorp,
Inc.
798
38,105
Nicolet
Bankshares,
Inc.
234
28,050
Northeast
Bank
122
12,251
Northeast
Community
Bancorp,
Inc.
214
4,978
Northfield
Bancorp,
Inc.
664
7,822
Northrim
Bancorp,
Inc.
92
7,572
Northwest
Bancshares,
Inc.
2,216
27,966
Norwood
Financial
Corp.
126
3,256
Oak
Valley
Bancorp
118
3,194
OceanFirst
Financial
Corp.
1,002
18,046
OFG
Bancorp
798
33,907
Old
National
Bancorp
5,472
129,960
Old
Second
Bancorp,
Inc.
757
13,883
Orange
County
Bancorp,
Inc.
178
4,548
Origin
Bancorp,
Inc.
510
19,747
Orrstown
Financial
Services,
Inc.
322
10,787
Pacific
Premier
Bancorp,
Inc.
1,665
39,777
Park
National
Corp.
250
41,610
Parke
Bancorp,
Inc.
183
3,655
Pathward
Financial,
Inc.
437
33,872
PCB
Bancorp
189
3,714
FEBRUARY
28,
2025
(Unaudited)
::
RUSSELL
2000
HIGH
INCOME
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
85
ITWO
::
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Peapack-Gladstone
Financial
Corp.
290
$
9,384
Peoples
Bancorp
of
North
Carolina,
Inc.
77
2,034
Peoples
Bancorp,
Inc.
601
19,232
Peoples
Financial
Services
Corp.
159
7,764
Pioneer
Bancorp,
Inc.*
205
2,440
Plumas
Bancorp
94
4,320
Ponce
Financial
Group,
Inc.*
337
4,421
Preferred
Bank
216
19,170
Primis
Financial
Corp.
352
3,700
Princeton
Bancorp,
Inc.
94
3,081
Provident
Bancorp,
Inc.*
273
3,284
Provident
Financial
Services,
Inc.
2,191
39,986
QCR
Holdings,
Inc.
284
21,394
RBB
Bancorp
282
4,994
Red
River
Bancshares,
Inc.
81
4,572
Renasant
Corp.
1,085
39,277
Republic
Bancorp,
Inc.,
Class
a
A
146
9,903
S&T
Bancorp,
Inc.
663
26,666
Sandy
Spring
Bancorp,
Inc.
764
24,425
Seacoast
Banking
Corp.
of
Florida
1,469
41,543
ServisFirst
Bancshares,
Inc.
883
80,706
Shore
Bancshares,
Inc.
535
8,097
Sierra
Bancorp
226
6,943
Simmons
First
National
Corp.,
Class
a
A
2,158
47,411
SmartFinancial,
Inc.
276
9,583
South
Plains
Financial,
Inc.
206
7,259
Southern
First
Bancshares,
Inc.*
134
4,577
Southern
Missouri
Bancorp,
Inc.
165
9,619
Southern
States
Bancshares,
Inc.
147
4,775
Southside
Bancshares,
Inc.
499
15,344
SouthState
Corp.
1,700
171,360
Stellar
Bancorp,
Inc.
853
24,814
Sterling
Bancorp,
Inc.*
370
1,739
Stock
Yards
Bancorp,
Inc.
444
32,350
Texas
Capital
Bancshares,
Inc.*
805
63,724
Third
Coast
Bancshares,
Inc.*
197
7,057
Timberland
Bancorp,
Inc.
131
4,195
Tompkins
Financial
Corp.
221
15,225
Towne
Bank
1,223
45,104
TriCo
Bancshares
557
24,352
Triumph
Financial,
Inc.*
384
26,438
TrustCo
Bank
Corp.
322
10,629
Trustmark
Corp.
1,058
38,712
UMB
Financial
Corp.
1,185
130,741
United
Bankshares,
Inc.
2,300
83,122
United
Community
Banks,
Inc.
2,079
67,006
Unity
Bancorp,
Inc.
123
5,841
Univest
Financial
Corp.
502
15,341
USCB
Financial
Holdings,
Inc.
182
3,545
Valley
National
Bancorp
8,135
80,048
Veritex
Holdings,
Inc.
911
23,996
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Virginia
National
Bankshares
Corp.
82
$
2,983
WaFd,
Inc.
1,161
34,354
Washington
Trust
Bancorp,
Inc.
294
9,443
WesBanco,
Inc.
1,508
52,886
West
Bancorp,
Inc.
280
6,334
Westamerica
Bancorp
445
23,193
WSFS
Financial
Corp.
1,028
55,810
4,846,063
Beverages
—
0.3%
MGP
Ingredients,
Inc.
247
8,087
National
Beverage
Corp.
409
16,290
Primo
Brands
Corp.,
Class
a
A
2,744
92,445
Vita
Coco
Co.,
Inc.
(The)*
681
22,092
138,914
Biotechnology
—
7.6%
2seventy
bio,
Inc.*
847
2,236
4D
Molecular
Therapeutics,
Inc.*
875
3,964
89bio,
Inc.*
1,456
13,439
Absci
Corp.*
1,388
5,344
ACADIA
Pharmaceuticals,
Inc.*
2,080
40,768
ACELYRIN,
Inc.*
1,268
3,398
Achieve
Life
Sciences,
Inc.*
598
1,836
Acrivon
Therapeutics,
Inc.*
206
1,094
Actinium
Pharmaceuticals,
Inc.*
547
629
Acumen
Pharmaceuticals,
Inc.*
728
932
ADC
Therapeutics
SA*
1,411
2,483
ADMA
Biologics,
Inc.*
3,915
64,167
Adverum
Biotechnologies,
Inc.*(b)
361
1,700
Aerovate
Therapeutics,
Inc.*
233
566
Agenus,
Inc.*(b)
376
1,072
Agios
Pharmaceuticals,
Inc.*
981
34,865
Akebia
Therapeutics,
Inc.*
3,614
6,686
Akero
Therapeutics,
Inc.*
1,178
57,863
Aldeyra
Therapeutics,
Inc.*
866
4,425
Alector,
Inc.*
1,402
2,299
Alkermes
plc*
2,800
96,124
Allogene
Therapeutics,
Inc.*(b)
2,230
4,348
Altimmune,
Inc.*(b)
1,236
8,219
ALX
Oncology
Holdings,
Inc.*
598
658
Amicus
Therapeutics,
Inc.*
5,102
48,418
AnaptysBio,
Inc.*
377
6,341
Anavex
Life
Sciences
Corp.*(b)
1,305
10,323
Anika
Therapeutics,
Inc.*
228
3,979
Annexon,
Inc.*
1,696
4,477
Apogee
Therapeutics,
Inc.*
660
20,750
Applied
Therapeutics,
Inc.*(b)
1,668
848
Arbutus
Biopharma
Corp.*
2,542
8,770
Arcellx,
Inc.*
748
48,485
Arcturus
Therapeutics
Holdings,
Inc.*
399
6,699
Arcus
Biosciences,
Inc.*
946
10,302
Arcutis
Biotherapeutics,
Inc.*
1,870
25,600
Ardelyx,
Inc.*
4,090
21,922
ArriVent
Biopharma,
Inc.*(b)
491
11,593
RUSSELL
2000
HIGH
INCOME
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
86
ITWO
::
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Arrowhead
Pharmaceuticals,
Inc.*
2,077
$
39,276
ARS
Pharmaceuticals,
Inc.*
855
8,960
Artiva
Biotherapeutics,
Inc.*
255
1,058
Astria
Therapeutics,
Inc.*
804
5,178
Atossa
Therapeutics,
Inc.*(b)
2,195
1,681
Aura
Biosciences,
Inc.*
806
6,037
Aurinia
Pharmaceuticals,
Inc.*
2,335
18,563
Avidity
Biosciences,
Inc.*
1,928
59,074
Avita
Medical,
Inc.*
444
4,040
Beam
Therapeutics,
Inc.*
1,329
35,006
Bicara
Therapeutics,
Inc.*(b)
336
4,469
BioCryst
Pharmaceuticals,
Inc.*
3,594
30,944
Biohaven
Ltd.*
1,494
55,547
Biomea
Fusion,
Inc.*(b)
480
1,387
Black
Diamond
Therapeutics,
Inc.*
690
1,387
Bluebird
Bio,
Inc.*
170
694
Blueprint
Medicines
Corp.*
1,105
106,710
Boundless
Bio,
Inc.*
292
564
Bridgebio
Pharma,
Inc.*
2,443
85,261
C4
Therapeutics,
Inc.*
1,044
2,829
Cabaletta
Bio,
Inc.*
780
1,408
CAMP4
Therapeutics
Corp.*
120
589
Candel
Therapeutics,
Inc.*
379
3,402
Capricor
Therapeutics,
Inc.*
637
9,797
Cardiff
Oncology,
Inc.*
710
3,010
CareDx,
Inc.*
880
19,492
Cargo
Therapeutics,
Inc.*
596
2,241
Caribou
Biosciences,
Inc.*
1,429
1,672
Cartesian
Therapeutics,
Inc.*
179
3,372
Catalyst
Pharmaceuticals,
Inc.*
1,944
44,498
Celcuity,
Inc.*
569
5,366
Celldex
Therapeutics,
Inc.*
1,123
23,100
Century
Therapeutics,
Inc.*
809
552
CervoMed,
Inc.*
92
206
CG
oncology,
Inc.*
825
21,334
Cibus,
Inc.,
Class
a
A*
316
648
Climb
Bio,
Inc.*
510
739
Cogent
Biosciences,
Inc.*
1,596
12,018
Coherus
Biosciences,
Inc.*
1,932
2,145
Compass
Therapeutics,
Inc.*
1,772
5,139
Corbus
Pharmaceuticals
Holdings,
Inc.*
205
1,548
Crinetics
Pharmaceuticals,
Inc.*
1,524
54,529
Cullinan
Therapeutics,
Inc.*
902
7,658
Cytokinetics,
Inc.*
1,986
91,356
Day
One
Biopharmaceuticals,
Inc.*
905
8,199
Denali
Therapeutics,
Inc.*
2,161
35,786
Design
Therapeutics,
Inc.*
547
2,658
Dianthus
Therapeutics,
Inc.*(b)
415
8,964
Disc
Medicine,
Inc.*
343
19,270
Dynavax
Technologies
Corp.*
2,292
31,607
Dyne
Therapeutics,
Inc.*
1,434
19,517
Editas
Medicine,
Inc.*
1,439
2,763
Elevation
Oncology,
Inc.*
978
512
Enanta
Pharmaceuticals,
Inc.*
349
2,715
Entrada
Therapeutics,
Inc.*
430
5,134
Erasca,
Inc.*
3,195
4,377
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Fate
Therapeutics,
Inc.*
1,738
$
1,947
Fennec
Pharmaceuticals,
Inc.*
408
2,864
Fibrobiologics,
Inc.*
473
596
Foghorn
Therapeutics,
Inc.*
440
2,134
Galectin
Therapeutics,
Inc.*(b)
352
553
Generation
Bio
Co.*
857
497
Geron
Corp.*
10,280
18,093
Greenwich
Lifesciences,
Inc.*
106
1,295
Gyre
Therapeutics,
Inc.*
122
1,415
Halozyme
Therapeutics,
Inc.*
2,168
128,237
Heron
Therapeutics,
Inc.*
2,039
5,036
HilleVax,
Inc.*
548
981
Humacyte,
Inc.*(b)
1,529
5,199
Ideaya
Biosciences,
Inc.*
1,470
30,238
IGM
Biosciences,
Inc.*
264
359
ImmunityBio,
Inc.*(b)
2,516
8,278
Immunome,
Inc.*
896
8,422
Immunovant,
Inc.*
1,010
20,806
Inhibrx
Biosciences,
Inc.*
204
2,703
Inmune
Bio,
Inc.*(b)
236
1,895
Inovio
Pharmaceuticals,
Inc.*
450
891
Inozyme
Pharma,
Inc.*
909
1,091
Insmed,
Inc.*
2,998
244,487
Intellia
Therapeutics,
Inc.*
1,764
17,799
Invivyd,
Inc.*
1,377
1,597
Iovance
Biotherapeutics,
Inc.*
4,773
20,214
Ironwood
Pharmaceuticals,
Inc.,
Class
a
A*
2,460
3,961
iTeos
Therapeutics,
Inc.*
463
3,361
Janux
Therapeutics,
Inc.*
488
16,050
Jasper
Therapeutics,
Inc.
(Registered)*
198
1,174
KalVista
Pharmaceuticals,
Inc.*
593
6,757
Keros
Therapeutics,
Inc.*
535
5,928
Kiniksa
Pharmaceuticals
International
plc,
Class
a
A*
669
13,567
Kodiak
Sciences,
Inc.*
568
2,334
Korro
Bio,
Inc.*
105
2,632
Krystal
Biotech,
Inc.*
431
77,257
Kura
Oncology,
Inc.*
1,260
9,715
Kymera
Therapeutics,
Inc.*
815
25,550
Kyverna
Therapeutics,
Inc.*
446
1,267
Larimar
Therapeutics,
Inc.*
732
2,218
LENZ
Therapeutics,
Inc.(b)
219
4,781
Lexeo
Therapeutics,
Inc.*
410
1,173
Lexicon
Pharmaceuticals,
Inc.*(b)
1,993
1,394
Lineage
Cell
Therapeutics,
Inc.*
2,566
1,441
Lyell
Immunopharma,
Inc.*
2,791
1,984
MacroGenics,
Inc.*
1,068
2,627
Madrigal
Pharmaceuticals,
Inc.*
313
106,818
MannKind
Corp.*
4,682
25,002
MeiraGTx
Holdings
plc*
809
5,768
Mersana
Therapeutics,
Inc.*
1,970
1,031
Metagenomi,
Inc.*
475
974
MiMedx
Group,
Inc.*
2,062
17,331
Mineralys
Therapeutics,
Inc.*
498
4,552
Mirum
Pharmaceuticals,
Inc.*
690
32,823
Monte
Rosa
Therapeutics,
Inc.*
720
3,960
Myriad
Genetics,
Inc.*
1,555
16,685
FEBRUARY
28,
2025
(Unaudited)
::
RUSSELL
2000
HIGH
INCOME
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
87
ITWO
::
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Neurogene,
Inc.*
179
$
3,167
Nkarta,
Inc.*
917
1,605
Novavax,
Inc.*(b)
2,680
22,324
Nurix
Therapeutics,
Inc.*
1,222
18,880
Nuvalent,
Inc.,
Class
a
A*
611
45,813
Ocugen,
Inc.*(b)
4,973
3,241
Olema
Pharmaceuticals,
Inc.*
712
3,111
Organogenesis
Holdings,
Inc.,
Class
a
A*
1,255
7,794
ORIC
Pharmaceuticals,
Inc.*
1,072
8,608
Outlook
Therapeutics,
Inc.*(b)
266
399
Ovid
therapeutics,
Inc.*
1,023
542
PepGen,
Inc.*
268
844
Perspective
Therapeutics,
Inc.*
938
2,608
Praxis
Precision
Medicines,
Inc.*
300
11,580
Precigen,
Inc.*(b)
2,342
4,052
Prelude
Therapeutics,
Inc.*
227
172
Prime
Medicine,
Inc.*(b)
985
2,482
ProKidney
Corp.,
Class
a
A*
1,903
2,341
Protagonist
Therapeutics,
Inc.*
1,017
38,229
Prothena
Corp.
plc*
740
11,699
PTC
Therapeutics,
Inc.*
1,323
73,109
Puma
Biotechnology,
Inc.*
732
2,621
Pyxis
Oncology,
Inc.*
848
1,009
Q32
Bio,
Inc.*
104
236
RAPT
Therapeutics,
Inc.*
520
593
Recursion
Pharmaceuticals,
Inc.,
Class
a
A*(b)
4,327
32,496
REGENXBIO,
Inc.*
800
5,256
Regulus
Therapeutics,
Inc.*
1,095
1,478
Relay
Therapeutics,
Inc.*
2,115
7,212
Renovaro,
Inc.*
2,009
1,974
Replimune
Group,
Inc.*
1,060
13,441
Revolution
Medicines,
Inc.*
2,909
118,513
Rhythm
Pharmaceuticals,
Inc.*
952
52,274
Rigel
Pharmaceuticals,
Inc.*
303
6,987
Rocket
Pharmaceuticals,
Inc.*
1,144
10,811
Sage
Therapeutics,
Inc.*
951
6,942
Sana
Biotechnology,
Inc.*(b)
2,298
5,998
Savara,
Inc.*
2,006
4,995
Scholar
Rock
Holding
Corp.*
1,348
52,329
Sera
Prognostics,
Inc.,
Class
a
A*
492
2,086
Shattuck
Labs,
Inc.*
678
895
Skye
Bioscience,
Inc.*
342
975
Soleno
Therapeutics,
Inc.*
443
21,627
Solid
Biosciences,
Inc.*
397
2,219
SpringWorks
Therapeutics,
Inc.*
1,196
69,081
Spyre
Therapeutics,
Inc.*
602
11,859
Stoke
Therapeutics,
Inc.*
625
4,906
Summit
Therapeutics,
Inc.*(b)
1,600
33,104
Sutro
Biopharma,
Inc.*
1,421
2,259
Syndax
Pharmaceuticals,
Inc.*
1,429
22,350
Tango
Therapeutics,
Inc.*
829
1,716
Taysha
Gene
Therapies,
Inc.*
3,047
4,875
Tenaya
Therapeutics,
Inc.*
957
967
Tevogen
Bio
Holdings,
Inc.*
393
503
TG
Therapeutics,
Inc.*
2,428
73,059
Tourmaline
Bio,
Inc.*
403
5,275
Travere
Therapeutics,
Inc.*
1,314
28,120
Investments
Shares
Value
Common
Stocks
(a)
(continued)
TScan
Therapeutics,
Inc.*
668
$
1,403
Twist
Bioscience
Corp.*
1,014
39,363
Tyra
Biosciences,
Inc.*
354
4,145
Upstream
Bio,
Inc.*
303
2,403
UroGen
Pharma
Ltd.*
674
6,376
Vanda
Pharmaceuticals,
Inc.*
990
4,712
Vaxcyte,
Inc.*
2,158
157,577
Vera
Therapeutics,
Inc.,
Class
a
A*
772
23,106
Veracyte,
Inc.*
1,336
46,439
Verastem,
Inc.*
674
3,771
Vericel
Corp.*
852
43,699
Verve
Therapeutics,
Inc.*
1,236
7,824
Vir
Biotechnology,
Inc.*
1,557
13,063
Viridian
Therapeutics,
Inc.*
1,271
19,739
Voyager
Therapeutics,
Inc.*
799
3,260
Werewolf
Therapeutics,
Inc.*
529
656
X4
Pharmaceuticals,
Inc.*
2,920
1,154
XBiotech,
Inc.*
346
1,218
Xencor,
Inc.*
1,171
17,987
XOMA
Royalty
Corp.*
140
3,178
Y-mAbs
Therapeutics,
Inc.*
650
3,614
Zenas
Biopharma,
Inc.*
268
1,879
Zentalis
Pharmaceuticals,
Inc.*
993
2,056
Zura
Bio
Ltd.,
Class
a
A*
856
1,164
Zymeworks,
Inc.*
949
12,717
3,737,494
Broadline
Retail
—
0.0%(d)
1stdibs.com,
Inc.*
442
1,627
Groupon,
Inc.,
Class
a
A*
407
4,526
Qurate
Retail
Group,
Inc.,
Class
a
B*(b)
18
180
Savers
Value
Village,
Inc.*
409
3,059
9,392
Building
Products
—
1.3%
American
Woodmark
Corp.*
271
16,824
Apogee
Enterprises,
Inc.
382
18,313
AZZ,
Inc.
510
49,016
Caesarstone
Ltd.*
360
1,364
CSW
Industrials,
Inc.
291
89,072
Gibraltar
Industries,
Inc.*
532
34,958
Griffon
Corp.
655
47,383
Insteel
Industries,
Inc.
324
9,117
Janus
International
Group,
Inc.*
2,469
19,974
JELD-WEN
Holding,
Inc.*
1,470
8,085
Masterbrand,
Inc.*
2,203
30,820
Quanex
Building
Products
Corp.
787
15,181
Resideo
Technologies,
Inc.*
2,541
48,813
Tecnoglass,
Inc.
391
28,801
UFP
Industries,
Inc.
1,052
112,564
Zurn
Elkay
Water
Solutions
Corp.
2,504
88,717
619,002
Capital
Markets
—
1.7%
Acadian
Asset
Management,
Inc.
470
11,590
RUSSELL
2000
HIGH
INCOME
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
88
ITWO
::
Investments
Shares
Value
Common
Stocks
(a)
(continued)
AlTi
Global,
Inc.*
598
$
2,069
Artisan
Partners
Asset
Management,
Inc.,
Class
a
A
1,094
46,189
B
Riley
Financial,
Inc.
355
2,267
BGC
Group,
Inc.,
Class
a
A
6,335
62,717
Cohen
&
Steers,
Inc.
477
41,690
Diamond
Hill
Investment
Group,
Inc.
46
6,722
DigitalBridge
Group,
Inc.
2,764
31,427
Donnelley
Financial
Solutions,
Inc.*
448
22,207
Forge
Global
Holdings,
Inc.*
2,021
2,021
GCM
Grosvenor,
Inc.,
Class
a
A(b)
741
10,463
Hamilton
Lane,
Inc.,
Class
a
A
669
104,578
MarketWise,
Inc.
677
412
Moelis
&
Co.,
Class
a
A
1,229
86,817
Open
Lending
Corp.*
1,777
8,672
P10,
Inc.,
Class
a
A
711
9,079
Patria
Investments
Ltd.,
Class
a
A
971
11,001
Perella
Weinberg
Partners,
Class
a
A
901
20,822
Piper
Sandler
Cos.
302
87,465
PJT
Partners,
Inc.,
Class
a
A
406
64,660
Resolute
Holdings
Management,
Inc.*
36
1,686
Silvercrest
Asset
Management
Group,
Inc.,
Class
a
A
165
2,991
StepStone
Group,
Inc.,
Class
a
A
1,142
68,703
StoneX
Group,
Inc.*
481
58,042
Value
Line,
Inc.
14
573
Victory
Capital
Holdings,
Inc.,
Class
a
A
716
45,853
Virtus
Investment
Partners,
Inc.
117
21,969
WisdomTree,
Inc.
2,427
22,134
854,819
Chemicals
—
1.7%
AdvanSix,
Inc.
443
12,368
American
Vanguard
Corp.
440
2,262
Arcadium
Lithium
plc*
18,840
110,026
Arq,
Inc.*
488
2,547
ASP
Isotopes,
Inc.*
910
4,332
Aspen
Aerogels,
Inc.*
1,074
8,173
Avient
Corp.
1,569
67,106
Balchem
Corp.
561
97,631
Cabot
Corp.
930
79,980
Core
Molding
Technologies,
Inc.*
132
1,812
Ecovyst,
Inc.*
2,023
13,736
Hawkins,
Inc.
336
35,277
HB
Fuller
Co.
952
54,016
Ingevity
Corp.*
633
30,169
Innospec,
Inc.
434
44,880
Intrepid
Potash,
Inc.*
190
4,957
Koppers
Holdings,
Inc.
345
10,043
Kronos
Worldwide,
Inc.
381
3,334
LSB
Industries,
Inc.*
926
6,787
Mativ
Holdings,
Inc.
939
6,348
Minerals
Technologies,
Inc.
552
37,944
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Northern
Technologies
International
Corp.
138
$
1,566
Orion
SA
1,002
14,008
Perimeter
Solutions,
Inc.*
2,327
24,620
PureCycle
Technologies,
Inc.*(b)
2,143
22,073
Quaker
Chemical
Corp.
241
33,504
Rayonier
Advanced
Materials,
Inc.*
1,114
8,578
Sensient
Technologies
Corp.
732
50,801
Stepan
Co.
373
23,036
Tronox
Holdings
plc
2,066
16,032
Valhi,
Inc.
42
720
828,666
Commercial
Services
&
Supplies
—
1.7%
ABM
Industries,
Inc.
1,098
59,654
ACCO
Brands
Corp.
1,625
7,589
ACV
Auctions,
Inc.,
Class
a
A*
2,573
41,322
Bridger
Aerospace
Group
Holdings,
Inc.*
169
297
BrightView
Holdings,
Inc.*
1,013
13,594
Brink's
Co.
(The)
772
72,599
Casella
Waste
Systems,
Inc.,
Class
a
A*
1,084
121,430
CECO
Environmental
Corp.*
508
12,639
Cimpress
plc*
297
14,280
CompX
International,
Inc.(b)
28
665
CoreCivic,
Inc.*
1,896
35,569
Deluxe
Corp.
771
12,691
Driven
Brands
Holdings,
Inc.*
1,041
18,249
Ennis,
Inc.
441
9,349
Enviri
Corp.*
1,378
8,957
GEO
Group,
Inc.
(The)*
2,214
60,575
Healthcare
Services
Group,
Inc.*
1,280
13,440
HNI
Corp.
826
38,483
Interface,
Inc.,
Class
a
A
998
20,190
LanzaTech
Global,
Inc.*
1,941
1,551
Liquidity
Services,
Inc.*
374
12,522
Matthews
International
Corp.,
Class
a
A
517
12,884
MillerKnoll,
Inc.
1,212
26,058
Montrose
Environmental
Group,
Inc.*
553
10,745
NL
Industries,
Inc.
149
1,024
OPENLANE,
Inc.*
1,868
41,656
Perma-Fix
Environmental
Services,
Inc.*
253
2,034
Pitney
Bowes,
Inc.
2,822
30,562
Pursuit
Attractions
and
Hospitality,
Inc.*
355
14,093
Quad/Graphics,
Inc.
539
3,385
Quest
Resource
Holding
Corp.*
303
1,385
Steelcase,
Inc.,
Class
a
A
1,610
19,578
UniFirst
Corp.
263
56,524
Virco
Mfg.
Corp.
193
1,984
VSE
Corp.
305
36,142
833,699
FEBRUARY
28,
2025
(Unaudited)
::
RUSSELL
2000
HIGH
INCOME
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
89
ITWO
::
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Communications
Equipment
—
0.6%
ADTRAN
Holdings,
Inc.*
1,371
$
14,491
Applied
Optoelectronics,
Inc.*
709
15,499
Aviat
Networks,
Inc.*
201
4,207
Calix,
Inc.*
1,034
38,279
Clearfield,
Inc.*
210
6,806
CommScope
Holding
Co.,
Inc.*
3,732
23,698
Digi
International,
Inc.*
620
18,935
Extreme
Networks,
Inc.*
2,243
34,654
Harmonic,
Inc.*
1,920
19,795
NETGEAR,
Inc.*
485
12,755
NetScout
Systems,
Inc.*
1,202
27,033
Ribbon
Communications,
Inc.*
1,591
7,510
Viasat,
Inc.*
2,151
18,800
Viavi
Solutions,
Inc.*
3,831
42,831
285,293
Construction
&
Engineering
—
1.4%
Ameresco,
Inc.,
Class
a
A*
559
6,596
Arcosa,
Inc.
845
70,879
Argan,
Inc.
219
28,551
Bowman
Consulting
Group
Ltd.,
Class
a
A*
239
4,947
Centuri
Holdings,
Inc.*
296
5,136
Concrete
Pumping
Holdings,
Inc.
413
2,701
Construction
Partners,
Inc.,
Class
a
A*
745
54,057
Dycom
Industries,
Inc.*
495
81,111
Fluor
Corp.*
2,969
112,911
Granite
Construction,
Inc.
766
63,256
Great
Lakes
Dredge
&
Dock
Corp.*
1,147
9,738
IES
Holdings,
Inc.*
145
25,858
Limbach
Holdings,
Inc.*
178
14,774
Matrix
Service
Co.*
460
5,741
MYR
Group,
Inc.*
278
34,116
Northwest
Pipe
Co.*
168
7,404
Orion
Group
Holdings,
Inc.*
631
4,493
Primoris
Services
Corp.
927
66,503
Southland
Holdings,
Inc.*
175
577
Sterling
Infrastructure,
Inc.*
519
66,022
Tutor
Perini
Corp.*
751
22,072
687,443
Construction
Materials
—
0.2%
Knife
River
Corp.*
987
94,436
Smith-Midland
Corp.*
80
2,730
United
States
Lime
&
Minerals,
Inc.
183
17,175
114,341
Consumer
Finance
—
0.9%
Atlanticus
Holdings
Corp.*
94
5,163
Bread
Financial
Holdings,
Inc.
864
46,656
Consumer
Portfolio
Services,
Inc.*
147
1,470
Dave,
Inc.*
140
14,092
Encore
Capital
Group,
Inc.*
408
15,388
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Enova
International,
Inc.*
442
$
45,676
FirstCash
Holdings,
Inc.
670
75,228
Green
Dot
Corp.,
Class
a
A*
934
7,145
LendingClub
Corp.*
1,921
24,570
LendingTree,
Inc.*
173
6,987
Medallion
Financial
Corp.
323
2,694
Moneylion,
Inc.*
150
13,068
Navient
Corp.
1,349
19,304
Nelnet,
Inc.,
Class
a
A
248
30,353
NerdWallet,
Inc.,
Class
a
A*
611
6,232
OppFi,
Inc.
330
3,254
PRA
Group,
Inc.*
672
14,065
PROG
Holdings,
Inc.
710
20,143
Regional
Management
Corp.
147
4,932
Upstart
Holdings,
Inc.*
1,366
91,071
World
Acceptance
Corp.*
61
8,225
455,716
Consumer
Staples
Distribution
&
Retail
—
0.9%
Andersons,
Inc.
(The)
567
24,256
Chefs'
Warehouse,
Inc.
(The)*
609
38,111
Guardian
Pharmacy
Services,
Inc.,
Class
a
A*
150
3,000
HF
Foods
Group,
Inc.*
698
1,333
Ingles
Markets,
Inc.,
Class
a
A
252
15,483
Natural
Grocers
by
Vitamin
Cottage,
Inc.
162
7,199
PriceSmart,
Inc.
436
38,974
SpartanNash
Co.
586
11,832
Sprouts
Farmers
Market,
Inc.*
1,751
259,849
United
Natural
Foods,
Inc.*
1,023
32,521
Village
Super
Market,
Inc.,
Class
a
A
151
4,757
Weis
Markets,
Inc.
285
21,084
458,399
Containers
&
Packaging
—
0.2%
Ardagh
Metal
Packaging
SA(b)
2,512
7,209
Greif,
Inc.,
Class
a
A
434
24,851
Greif,
Inc.,
Class
a
B
84
5,091
Myers
Industries,
Inc.
639
7,003
O-I
Glass,
Inc.*
2,694
30,900
Pactiv
Evergreen,
Inc.
703
12,556
Ranpak
Holdings
Corp.,
Class
a
A*
746
4,991
TriMas
Corp.
706
14,466
107,067
Distributors
—
0.0%(d)
A-Mark
Precious
Metals,
Inc.
308
8,372
GigaCloud
Technology,
Inc.,
Class
a
A*
413
6,992
Weyco
Group,
Inc.
104
3,617
18,981
Diversified
Consumer
Services
—
1.1%
Adtalem
Global
Education,
Inc.*
653
66,808
American
Public
Education,
Inc.*
273
5,777
Carriage
Services,
Inc.,
Class
a
A
237
9,506
RUSSELL
2000
HIGH
INCOME
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
90
ITWO
::
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Chegg,
Inc.*
1,749
$
1,906
Coursera,
Inc.*
2,393
18,953
European
Wax
Center,
Inc.,
Class
a
A*
578
3,757
Frontdoor,
Inc.*
1,339
60,898
Graham
Holdings
Co.,
Class
a
B
56
55,091
KinderCare
Learning
Cos.,
Inc.*(b)
485
9,438
Laureate
Education,
Inc.*
2,264
45,144
Lincoln
Educational
Services
Corp.*
453
8,312
Mister
Car
Wash,
Inc.*
1,649
14,000
Nerdy,
Inc.*(b)
1,315
1,999
OneSpaWorld
Holdings
Ltd.
1,747
33,333
Perdoceo
Education
Corp.
1,140
29,184
Strategic
Education,
Inc.
386
31,085
Stride,
Inc.*
740
101,232
Udemy,
Inc.*
1,583
15,260
Universal
Technical
Institute,
Inc.*
685
19,344
531,027
Diversified
REITs
—
0.6%
Alexander
&
Baldwin,
Inc.,
REIT
1,265
22,909
Alpine
Income
Property
Trust,
Inc.,
REIT
218
3,615
American
Assets
Trust,
Inc.,
REIT
834
18,732
Armada
Hoffler
Properties,
Inc.,
REIT
1,372
12,595
Broadstone
Net
Lease,
Inc.,
REIT
3,280
55,268
CTO
Realty
Growth,
Inc.,
REIT
501
9,539
Empire
State
Realty
Trust,
Inc.,
Class
a
A,
REIT
2,372
21,988
Essential
Properties
Realty
Trust,
Inc.,
REIT
3,051
99,829
Gladstone
Commercial
Corp.,
REIT
735
11,929
Global
Net
Lease,
Inc.,
REIT
3,491
27,928
NexPoint
Diversified
Real
Estate
Trust,
REIT
574
2,847
One
Liberty
Properties,
Inc.,
REIT
276
7,333
294,512
Diversified
Telecommunication
Services
—
0.6%
Anterix,
Inc.*
178
6,942
AST
SpaceMobile,
Inc.,
Class
a
A*(b)
2,329
63,139
ATN
International,
Inc.
180
3,111
Bandwidth,
Inc.,
Class
a
A*
435
6,947
Cogent
Communications
Holdings,
Inc.
766
55,972
Globalstar,
Inc.*
846
18,265
IDT
Corp.,
Class
a
B
268
13,014
Liberty
Latin
America
Ltd.,
Class
a
A*
548
3,710
Liberty
Latin
America
Ltd.,
Class
a
C*
2,254
15,124
Lumen
Technologies,
Inc.*
17,599
83,067
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Shenandoah
Telecommunications
Co.
849
$
9,178
278,469
Electric
Utilities
—
0.8%
ALLETE,
Inc.
1,011
66,412
Genie
Energy
Ltd.,
Class
a
B
220
3,146
Hawaiian
Electric
Industries,
Inc.*
2,881
31,547
MGE
Energy,
Inc.
633
58,097
Otter
Tail
Corp.
721
57,485
Portland
General
Electric
Co.
1,808
81,053
TXNM
Energy,
Inc.
1,565
81,771
379,511
Electrical
Equipment
—
1.2%
Allient,
Inc.
253
6,295
American
Superconductor
Corp.*
608
13,808
Amprius
Technologies,
Inc.*
272
694
Array
Technologies,
Inc.*
2,657
14,029
Atkore,
Inc.
622
38,253
Blink
Charging
Co.*(b)
1,670
1,703
Bloom
Energy
Corp.,
Class
a
A*
3,494
83,926
ChargePoint
Holdings,
Inc.*(b)
6,879
4,581
Energy
Vault
Holdings,
Inc.*
1,822
2,478
EnerSys
695
70,536
Enovix
Corp.*(b)
2,860
25,511
Fluence
Energy,
Inc.*(b)
1,075
6,149
Freyr
Battery,
Inc.*(b)
1,948
2,980
FuelCell
Energy,
Inc.*
323
1,864
GrafTech
International
Ltd.*
4,499
5,264
LSI
Industries,
Inc.
497
9,190
NANO
Nuclear
Energy,
Inc.*(b)
78
2,246
Net
Power,
Inc.*
376
2,726
NEXTracker,
Inc.,
Class
a
A*
2,507
110,358
NuScale
Power
Corp.,
Class
a
A*(b)
1,474
25,338
Plug
Power,
Inc.*(b)
13,862
22,318
Powell
Industries,
Inc.
162
27,493
Preformed
Line
Products
Co.
42
5,472
SES
AI
Corp.*
2,261
1,500
Shoals
Technologies
Group,
Inc.,
Class
a
A*
2,916
8,835
SolarMax
Technology,
Inc.*
522
605
Solidion
Technology,
Inc.*
862
290
Stem,
Inc.*(b)
2,637
1,132
Sunrun,
Inc.*
3,801
27,557
Thermon
Group
Holdings,
Inc.*
579
17,080
TPI
Composites,
Inc.*
799
903
Ultralife
Corp.*
175
1,097
Vicor
Corp.*
397
25,142
567,353
Electronic
Equipment,
Instruments
&
Components
—
2.7%
908
Devices,
Inc.*
413
925
Advanced
Energy
Industries,
Inc.
652
75,091
Aeva
Technologies,
Inc.*
403
1,443
Arlo
Technologies,
Inc.*
1,701
24,460
FEBRUARY
28,
2025
(Unaudited)
::
RUSSELL
2000
HIGH
INCOME
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
91
ITWO
::
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Badger
Meter,
Inc.
511
$
107,479
Bel
Fuse,
Inc.,
Class
a
A
31
2,527
Bel
Fuse,
Inc.,
Class
a
B
180
15,104
Belden,
Inc.
705
77,571
Benchmark
Electronics,
Inc.
619
24,735
Climb
Global
Solutions,
Inc.
73
8,949
CTS
Corp.
524
23,402
Daktronics,
Inc.*
697
10,636
ePlus,
Inc.*
457
29,422
Evolv
Technologies
Holdings,
Inc.*
2,300
8,142
Fabrinet*
634
126,832
FARO
Technologies,
Inc.*
338
10,802
Insight
Enterprises,
Inc.*
472
72,631
Itron,
Inc.*
786
85,588
Kimball
Electronics,
Inc.*
426
7,676
Knowles
Corp.*
1,514
25,117
Lightwave
Logic,
Inc.*(b)
2,085
2,523
Methode
Electronics,
Inc.
614
6,693
MicroVision,
Inc.*(b)
3,658
5,304
Mirion
Technologies,
Inc.,
Class
a
A*
3,592
55,784
Napco
Security
Technologies,
Inc.
613
15,055
nLight,
Inc.*
809
7,419
Novanta,
Inc.*
623
90,111
OSI
Systems,
Inc.*
276
56,914
Ouster,
Inc.*
806
6,649
PAR
Technology
Corp.*
584
40,127
PC
Connection,
Inc.
203
12,951
Plexus
Corp.*
466
61,941
Powerfleet,
Inc.*
1,643
11,583
Richardson
Electronics
Ltd.
215
2,838
Rogers
Corp.*
326
26,060
Sanmina
Corp.*
933
76,431
ScanSource,
Inc.*
414
15,157
SmartRent,
Inc.,
Class
a
A*
3,322
4,119
TTM
Technologies,
Inc.*
1,755
42,313
Vishay
Intertechnology,
Inc.
2,198
37,674
Vishay
Precision
Group,
Inc.*
208
4,896
1,321,074
Energy
Equipment
&
Services
—
1.8%
Archrock,
Inc.
2,900
78,648
Aris
Water
Solutions,
Inc.,
Class
a
A
466
14,660
Atlas
Energy
Solutions,
Inc.,
Class
a
A
1,182
22,907
Borr
Drilling
Ltd.(b)
4,121
10,467
Bristow
Group,
Inc.,
Class
a
A*
427
15,816
Cactus,
Inc.,
Class
a
A
1,159
60,894
ChampionX
Corp.
3,317
98,847
Core
Laboratories,
Inc.
816
11,938
DMC
Global,
Inc.*
342
2,900
Drilling
Tools
International
Corp.*
205
662
Expro
Group
Holdings
NV*
1,647
19,583
Forum
Energy
Technologies,
Inc.*
205
3,825
Geospace
Technologies
Corp.*
213
1,721
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Helix
Energy
Solutions
Group,
Inc.*
2,505
$
21,593
Helmerich
&
Payne,
Inc.
1,680
44,537
Innovex
International,
Inc.*
595
10,895
Kodiak
Gas
Services,
Inc.
565
24,295
Liberty
Energy,
Inc.,
Class
a
A
2,752
47,527
Mammoth
Energy
Services,
Inc.*
422
1,034
Nabors
Industries
Ltd.*
158
6,350
Natural
Gas
Services
Group,
Inc.*
186
4,782
Noble
Corp.
plc
2,400
62,160
NPK
International,
Inc.*
1,463
8,924
Oceaneering
International,
Inc.*
1,758
38,834
Oil
States
International,
Inc.*
1,050
5,712
Patterson-UTI
Energy,
Inc.
6,765
56,217
ProFrac
Holding
Corp.,
Class
a
A*(b)
387
2,783
ProPetro
Holding
Corp.*
1,511
12,753
Ranger
Energy
Services,
Inc.,
Class
a
A
272
4,545
RPC,
Inc.
1,478
8,247
SEACOR
Marine
Holdings,
Inc.*
425
2,461
Seadrill
Ltd.*
1,207
30,742
Select
Water
Solutions,
Inc.,
Class
a
A
1,587
19,250
Solaris
Energy
Infrastructure,
Inc.,
Class
a
A
437
14,924
TETRA
Technologies,
Inc.*
2,182
8,270
Tidewater,
Inc.*
849
38,732
Transocean
Ltd.*(b)
12,681
37,409
Valaris
Ltd.*
1,073
38,306
894,150
Entertainment
—
0.5%
AMC
Entertainment
Holdings,
Inc.,
Class
a
A*
6,063
20,008
Atlanta
Braves
Holdings,
Inc.,
Class
a
A*
178
7,855
Atlanta
Braves
Holdings,
Inc.,
Class
a
C*
872
35,203
Cinemark
Holdings,
Inc.*
1,917
49,094
Eventbrite,
Inc.,
Class
a
A*
1,381
3,370
Golden
Matrix
Group,
Inc.*
355
746
IMAX
Corp.*
744
19,046
Lions
Gate
Entertainment
Corp.,
Class
a
A*
1,036
10,329
Lions
Gate
Entertainment
Corp.,
Class
a
B*
2,165
19,074
LiveOne,
Inc.*
1,301
1,007
Madison
Square
Garden
Entertainment
Corp.,
Class
a
A*
687
23,722
Marcus
Corp.
(The)
407
7,464
Playstudios,
Inc.*
1,530
2,494
Reservoir
Media,
Inc.*
339
2,654
Sphere
Entertainment
Co.*
471
20,550
Vivid
Seats,
Inc.,
Class
a
A*
1,342
5,556
228,172
Financial
Services
—
2.6%
Acacia
Research
Corp.*
657
2,759
RUSSELL
2000
HIGH
INCOME
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
92
ITWO
::
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Alerus
Financial
Corp.
390
$
7,944
AvidXchange
Holdings,
Inc.*
3,022
22,967
Banco
Latinoamericano
de
Comercio
Exterior
SA,
Class
a
E
475
20,126
Burford
Capital
Ltd.
3,485
54,366
Cannae
Holdings,
Inc.
978
19,599
Cantaloupe,
Inc.*
1,018
9,997
Cass
Information
Systems,
Inc.
235
10,272
Compass
Diversified
Holdings
1,157
25,327
Enact
Holdings,
Inc.
500
17,190
Essent
Group
Ltd.
1,814
104,523
EVERTEC,
Inc.
1,121
41,858
Federal
Agricultural
Mortgage
Corp.,
Class
a
C
158
33,033
Flywire
Corp.*
2,100
23,940
HA
Sustainable
Infrastructure
Capital,
Inc.
2,008
57,690
International
Money
Express,
Inc.*
553
8,472
Jackson
Financial,
Inc.,
Class
a
A
1,303
119,394
Marqeta,
Inc.,
Class
a
A*
8,245
34,464
Merchants
Bancorp
315
12,827
Mr
Cooper
Group,
Inc.*
1,096
123,157
NCR
Atleos
Corp.*
1,255
35,692
NewtekOne,
Inc.
426
5,534
NMI
Holdings,
Inc.,
Class
a
A*
1,364
49,704
Onity
Group,
Inc.*
111
3,587
Pagseguro
Digital
Ltd.,
Class
a
A*
3,280
24,141
Payoneer
Global,
Inc.*
5,046
43,143
Paysafe
Ltd.*
559
11,068
Paysign,
Inc.*
572
1,516
PennyMac
Financial
Services,
Inc.
464
48,094
Priority
Technology
Holdings,
Inc.*
322
3,455
Radian
Group,
Inc.
2,635
86,718
Remitly
Global,
Inc.*
2,597
62,328
Repay
Holdings
Corp.,
Class
a
A*
1,508
10,873
Sezzle,
Inc.*
40
11,964
StoneCo
Ltd.,
Class
a
A*
4,978
46,046
SWK
Holdings
Corp.*
58
986
Velocity
Financial,
Inc.*
163
3,071
Walker
&
Dunlop,
Inc.
558
47,804
Waterstone
Financial,
Inc.
281
3,954
1,249,583
Food
Products
—
0.9%
Alico,
Inc.
123
3,612
B&G
Foods,
Inc.
1,352
9,031
Beyond
Meat,
Inc.*(b)
1,038
3,280
BRC,
Inc.,
Class
a
A*(b)
917
2,366
Calavo
Growers,
Inc.
290
6,647
Cal-Maine
Foods,
Inc.
714
64,538
Dole
plc
1,305
19,092
Forafric
Global
plc*
95
860
Fresh
Del
Monte
Produce,
Inc.
587
17,898
Hain
Celestial
Group,
Inc.
(The)*
1,558
5,578
J
&
J
Snack
Foods
Corp.
265
34,832
John
B
Sanfilippo
&
Son,
Inc.
156
11,024
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Lancaster
Colony
Corp.
340
$
64,993
Lifeway
Foods,
Inc.*
79
1,671
Limoneira
Co.
287
6,325
Mama's
Creations,
Inc.*
573
3,504
Mission
Produce,
Inc.*
756
9,337
Seneca
Foods
Corp.,
Class
a
A*
82
6,658
Simply
Good
Foods
Co.
(The)*
1,587
59,909
SunOpta,
Inc.*
1,641
10,289
TreeHouse
Foods,
Inc.*
821
25,845
Utz
Brands,
Inc.
1,146
15,609
Vital
Farms,
Inc.*
578
19,138
Westrock
Coffee
Co.*(b)
590
3,764
WK
Kellogg
Co.(b)
1,142
22,634
428,434
Gas
Utilities
—
1.0%
Brookfield
Infrastructure
Corp.,
Class
a
A
2,085
83,483
Chesapeake
Utilities
Corp.
384
48,741
New
Jersey
Resources
Corp.
1,709
82,681
Northwest
Natural
Holding
Co.
671
27,430
ONE
Gas,
Inc.
978
73,497
RGC
Resources,
Inc.
145
2,941
Southwest
Gas
Holdings,
Inc.
1,059
79,478
Spire,
Inc.
987
75,861
474,112
Ground
Transportation
—
0.4%
ArcBest
Corp.
409
32,217
Covenant
Logistics
Group,
Inc.,
Class
a
A
281
7,073
FTAI
Infrastructure,
Inc.
1,750
10,220
Heartland
Express,
Inc.
810
8,359
Hertz
Global
Holdings,
Inc.*
2,135
8,903
Marten
Transport
Ltd.
1,012
14,897
PAMT
Corp.*
104
1,353
Proficient
Auto
Logistics,
Inc.*(b)
273
2,855
RXO,
Inc.*
2,774
56,784
Universal
Logistics
Holdings,
Inc.
118
3,209
Werner
Enterprises,
Inc.
1,073
34,937
180,807
Health
Care
Equipment
&
Supplies
—
2.6%
Accuray,
Inc.*
1,684
3,385
Alphatec
Holdings,
Inc.*
1,810
22,679
AngioDynamics,
Inc.*
674
6,262
Artivion,
Inc.*
689
17,508
AtriCure,
Inc.*
823
31,883
Avanos
Medical,
Inc.*
791
11,905
Axogen,
Inc.*
736
14,727
Bioventus,
Inc.,
Class
a
A*
668
6,774
Ceribell,
Inc.*
214
4,973
Cerus
Corp.*
3,136
5,174
CONMED
Corp.
536
31,715
CVRx,
Inc.*
232
3,007
Embecta
Corp.
1,010
13,635
Fractyl
Health,
Inc.*(b)
590
920
Glaukos
Corp.*
849
101,897
FEBRUARY
28,
2025
(Unaudited)
::
RUSSELL
2000
HIGH
INCOME
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
93
ITWO
::
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Haemonetics
Corp.*
872
$
57,116
ICU
Medical,
Inc.*
374
54,727
Inmode
Ltd.*
1,252
23,437
Inogen,
Inc.*
413
3,440
Integer
Holdings
Corp.*
579
71,333
Integra
LifeSciences
Holdings
Corp.*
1,176
27,295
iRadimed
Corp.
140
7,547
iRhythm
Technologies,
Inc.*
545
60,037
Lantheus
Holdings,
Inc.*
1,198
112,396
LeMaitre
Vascular,
Inc.
352
32,331
LivaNova
plc*
948
39,465
Merit
Medical
Systems,
Inc.*
995
101,530
Neogen
Corp.*
3,794
38,130
NeuroPace,
Inc.*
242
3,134
Nevro
Corp.*
639
3,655
Novocure
Ltd.*
1,852
35,318
Omnicell,
Inc.*
791
30,105
OraSure
Technologies,
Inc.*
1,255
4,367
Orchestra
BioMed
Holdings,
Inc.*
427
2,003
Orthofix
Medical,
Inc.*
596
10,359
OrthoPediatrics
Corp.*
289
6,711
Paragon
28,
Inc.*
819
10,680
PROCEPT
BioRobotics
Corp.*
776
49,928
Pulmonx
Corp.*(b)
661
5,698
Pulse
Biosciences,
Inc.*
319
5,841
RxSight,
Inc.*
631
17,895
Sanara
Medtech,
Inc.*
71
2,463
Semler
Scientific,
Inc.*(b)
83
3,562
SI-BONE,
Inc.*
717
12,992
Sight
Sciences,
Inc.*
615
1,630
STAAR
Surgical
Co.*
860
15,050
Stereotaxis,
Inc.*
981
2,021
Surmodics,
Inc.*
240
7,886
Tactile
Systems
Technology,
Inc.*
412
5,888
Tandem
Diabetes
Care,
Inc.*
1,143
25,306
TransMedics
Group,
Inc.*
570
43,502
Treace
Medical
Concepts,
Inc.*
850
7,599
UFP
Technologies,
Inc.*
126
28,676
Utah
Medical
Products,
Inc.
58
3,457
Varex
Imaging
Corp.*
673
8,655
Zimvie,
Inc.*
476
6,317
Zynex,
Inc.*
266
1,918
1,267,844
Health
Care
Providers
&
Services
—
2.9%
Accolade,
Inc.*
1,269
8,845
AdaptHealth
Corp.,
Class
a
A*
1,770
20,143
Addus
HomeCare
Corp.*
303
29,018
agilon
health,
Inc.*
5,369
16,751
AirSculpt
Technologies,
Inc.*
231
1,048
Alignment
Healthcare,
Inc.*
1,740
27,301
AMN
Healthcare
Services,
Inc.*
660
16,711
Ardent
Health
Partners,
Inc.*
214
3,137
Astrana
Health,
Inc.*
748
18,984
Aveanna
Healthcare
Holdings,
Inc.*
909
3,872
Investments
Shares
Value
Common
Stocks
(a)
(continued)
BrightSpring
Health
Services,
Inc.*
936
$
18,046
Brookdale
Senior
Living,
Inc.*
3,328
18,970
Castle
Biosciences,
Inc.*
449
9,734
Community
Health
Systems,
Inc.*
2,182
6,568
Concentra
Group
Holdings
Parent,
Inc.
1,914
43,218
CorVel
Corp.*
462
50,945
Cross
Country
Healthcare,
Inc.*
563
9,661
DocGo,
Inc.*
1,768
5,463
Enhabit,
Inc.*
866
7,248
Ensign
Group,
Inc.
(The)
966
124,759
Fulgent
Genetics,
Inc.*
358
5,531
GeneDx
Holdings
Corp.,
Class
a
A*
221
22,730
Guardant
Health,
Inc.*
2,051
87,270
HealthEquity,
Inc.*
1,492
163,762
Hims
&
Hers
Health,
Inc.*
3,300
148,797
InfuSystem
Holdings,
Inc.*
346
2,761
Innovage
Holding
Corp.*
329
1,069
Joint
Corp.
(The)*
190
2,157
LifeStance
Health
Group,
Inc.*
2,427
18,906
ModivCare,
Inc.*
195
643
Nano-X
Imaging
Ltd.*(b)
956
5,918
National
HealthCare
Corp.
217
20,218
National
Research
Corp.
264
3,852
NeoGenomics,
Inc.*
2,218
22,158
OPKO
Health,
Inc.*(b)
5,661
9,850
Option
Care
Health,
Inc.*
2,983
99,931
Owens
&
Minor,
Inc.*
1,312
12,569
PACS
Group,
Inc.*
671
8,743
Patterson
Cos.,
Inc.
1,370
42,662
Pediatrix
Medical
Group,
Inc.*
1,499
22,140
Pennant
Group,
Inc.
(The)*
567
12,911
Performant
Healthcare,
Inc.*
1,229
3,527
Privia
Health
Group,
Inc.*
1,773
44,272
Progyny,
Inc.*
1,378
31,046
Quipt
Home
Medical
Corp.*
720
1,901
RadNet,
Inc.*
1,149
63,735
Select
Medical
Holdings
Corp.
1,884
34,270
Sonida
Senior
Living,
Inc.*
83
2,017
Surgery
Partners,
Inc.*
1,335
32,147
Talkspace,
Inc.*
2,137
6,112
US
Physical
Therapy,
Inc.
261
21,146
Viemed
Healthcare,
Inc.*
597
4,680
1,399,853
Health
Care
REITs
—
0.7%
American
Healthcare
REIT,
Inc.
2,644
78,765
CareTrust
REIT,
Inc.
3,228
83,508
Community
Healthcare
Trust,
Inc.,
REIT
472
8,845
Diversified
Healthcare
Trust,
REIT
3,798
10,748
Global
Medical
REIT,
Inc.
1,057
9,302
LTC
Properties,
Inc.,
REIT
779
27,179
National
Health
Investors,
Inc.,
REIT
728
52,176
Sabra
Health
Care
REIT,
Inc.
4,113
68,317
RUSSELL
2000
HIGH
INCOME
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
94
ITWO
::
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Strawberry
Fields
REIT,
Inc.
108
$
1,266
Universal
Health
Realty
Income
Trust,
REIT
223
8,902
349,008
Health
Care
Technology
—
0.4%
Definitive
Healthcare
Corp.,
Class
a
A*
926
2,991
Evolent
Health,
Inc.,
Class
a
A*
2,008
18,052
Health
Catalyst,
Inc.*
1,040
4,857
HealthStream,
Inc.
423
14,285
LifeMD,
Inc.*
635
3,340
OptimizeRx
Corp.*
306
1,585
Phreesia,
Inc.*
963
25,558
Schrodinger,
Inc.*
966
21,551
Simulations
Plus,
Inc.
276
7,999
Teladoc
Health,
Inc.*
2,993
28,613
Waystar
Holding
Corp.*
1,105
48,034
176,865
Hotel
&
Resort
REITs
—
0.7%
Apple
Hospitality
REIT,
Inc.
3,963
58,692
Braemar
Hotels
&
Resorts,
Inc.,
REIT
1,145
3,286
Chatham
Lodging
Trust,
REIT
839
6,779
DiamondRock
Hospitality
Co.,
REIT
3,599
29,620
Pebblebrook
Hotel
Trust,
REIT
2,078
25,663
RLJ
Lodging
Trust,
REIT
2,652
24,557
Ryman
Hospitality
Properties,
Inc.,
REIT
1,021
100,967
Service
Properties
Trust,
REIT
2,867
8,544
Summit
Hotel
Properties,
Inc.,
REIT
1,825
11,808
Sunstone
Hotel
Investors,
Inc.,
REIT
3,540
37,099
Xenia
Hotels
&
Resorts,
Inc.,
REIT
1,773
23,829
330,844
Hotels,
Restaurants
&
Leisure
—
1.9%
Accel
Entertainment,
Inc.,
Class
a
A*
901
9,704
Biglari
Holdings,
Inc.,
Class
a
B*
13
3,187
BJ's
Restaurants,
Inc.*
328
12,507
Bloomin'
Brands,
Inc.
1,341
12,579
Brinker
International,
Inc.*
767
126,425
Cheesecake
Factory,
Inc.
(The)
(b)
840
45,385
Cracker
Barrel
Old
Country
Store,
Inc.
385
17,437
Dave
&
Buster's
Entertainment,
Inc.*
561
11,719
Denny's
Corp.*
876
4,354
Despegar.com
Corp.*
1,070
20,565
Dine
Brands
Global,
Inc.
264
6,621
El
Pollo
Loco
Holdings,
Inc.*
449
5,062
Everi
Holdings,
Inc.*
1,411
19,429
First
Watch
Restaurant
Group,
Inc.*
528
11,257
Full
House
Resorts,
Inc.*
571
2,746
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Global
Business
Travel
Group
I*
2,183
$
18,141
Golden
Entertainment,
Inc.
343
10,664
Hilton
Grand
Vacations,
Inc.*
1,243
53,325
Inspired
Entertainment,
Inc.*
382
4,118
International
Game
Technology
plc
1,979
35,088
Jack
in
the
Box,
Inc.
334
12,839
Krispy
Kreme,
Inc.
1,488
9,240
Kura
Sushi
USA,
Inc.,
Class
a
A*
102
6,344
Life
Time
Group
Holdings,
Inc.*
1,077
32,805
Lindblad
Expeditions
Holdings,
Inc.*
627
7,004
Monarch
Casino
&
Resort,
Inc.
222
20,331
Nathan's
Famous,
Inc.
49
4,994
ONE
Group
Hospitality,
Inc.
(The)*
362
1,180
Papa
John's
International,
Inc.
578
26,212
PlayAGS,
Inc.*
683
8,278
Portillo's,
Inc.,
Class
a
A*
940
13,132
Potbelly
Corp.*
477
6,082
RCI
Hospitality
Holdings,
Inc.
147
7,316
Red
Rock
Resorts,
Inc.,
Class
a
A
854
42,674
Rush
Street
Interactive,
Inc.*
1,321
15,403
Sabre
Corp.*
6,647
27,452
Shake
Shack,
Inc.,
Class
a
A*
662
71,893
Six
Flags
Entertainment
Corp.
1,612
70,880
Super
Group
SGHC
Ltd.
2,605
19,564
Sweetgreen,
Inc.,
Class
a
A*
1,741
39,625
Target
Hospitality
Corp.*
573
3,214
United
Parks
&
Resorts,
Inc.*
567
28,633
Vacasa,
Inc.,
Class
a
A*
165
845
Xponential
Fitness,
Inc.,
Class
a
A*
426
5,627
911,880
Household
Durables
—
1.8%
Beazer
Homes
USA,
Inc.*
507
11,306
Cavco
Industries,
Inc.*
146
76,581
Century
Communities,
Inc.
486
33,743
Champion
Homes,
Inc.*
932
95,530
Cricut,
Inc.,
Class
a
A(b)
817
4,412
Dream
Finders
Homes,
Inc.,
Class
a
A*(b)
487
11,644
Ethan
Allen
Interiors,
Inc.
398
11,343
Flexsteel
Industries,
Inc.
82
3,689
GoPro,
Inc.,
Class
a
A*
2,173
1,622
Green
Brick
Partners,
Inc.*
542
32,374
Hamilton
Beach
Brands
Holding
Co.,
Class
a
A
144
2,807
Helen
of
Troy
Ltd.*
397
21,847
Hooker
Furnishings
Corp.
185
2,418
Hovnanian
Enterprises,
Inc.,
Class
a
A*
87
8,849
Installed
Building
Products,
Inc.
416
71,302
iRobot
Corp.*
521
3,788
KB
Home
1,131
68,991
Landsea
Homes
Corp.*
314
2,236
La-Z-Boy,
Inc.
735
33,251
Legacy
Housing
Corp.*
195
4,814
LGI
Homes,
Inc.*
363
26,655
FEBRUARY
28,
2025
(Unaudited)
::
RUSSELL
2000
HIGH
INCOME
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
95
ITWO
::
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Lifetime
Brands,
Inc.
217
$
1,083
Lovesac
Co.
(The)*
247
5,175
M/I
Homes,
Inc.*
463
54,231
Meritage
Homes
Corp.
1,249
90,515
Purple
Innovation,
Inc.,
Class
a
A*
987
838
Sonos,
Inc.*
2,094
27,683
Taylor
Morrison
Home
Corp.,
Class
a
A*
1,779
109,658
Traeger,
Inc.*
600
1,392
Tri
Pointe
Homes,
Inc.*
1,602
50,719
United
Homes
Group,
Inc.*
91
338
870,834
Household
Products
—
0.3%
Central
Garden
&
Pet
Co.*
167
5,893
Central
Garden
&
Pet
Co.,
Class
a
A*
909
28,615
Energizer
Holdings,
Inc.
1,250
38,413
Oil-Dri
Corp.
of
America
170
7,499
WD-40
Co.
237
56,553
136,973
Independent
Power
and
Renewable
Electricity
Producers
—
0.2%
Altus
Power,
Inc.,
Class
a
A*
1,319
6,503
Montauk
Renewables,
Inc.*
1,147
3,934
Ormat
Technologies,
Inc.
1,004
70,119
Sunnova
Energy
International,
Inc.*
1,887
3,133
83,689
Industrial
Conglomerates
—
0.0%(d)
Brookfield
Business
Corp.,
Class
a
A
450
12,411
Industrial
REITs
—
0.4%
Industrial
Logistics
Properties
Trust,
REIT
1,136
4,476
Innovative
Industrial
Properties,
Inc.,
REIT
491
35,327
LXP
Industrial
Trust,
REIT
5,054
45,284
Plymouth
Industrial
REIT,
Inc.
698
12,103
Terreno
Realty
Corp.,
REIT
1,661
112,649
209,839
Insurance
—
2.0%
Ambac
Financial
Group,
Inc.*
791
7,681
American
Coastal
Insurance
Corp.
421
5,111
AMERISAFE,
Inc.
331
17,033
Baldwin
Insurance
Group,
Inc.
(The),
Class
a
A*
1,159
47,681
Bowhead
Specialty
Holdings,
Inc.*
204
6,861
CNO
Financial
Group,
Inc.
1,831
76,334
Crawford
&
Co.,
Class
a
A
264
3,242
Donegal
Group,
Inc.,
Class
a
A
268
4,687
Employers
Holdings,
Inc.
429
22,222
Enstar
Group
Ltd.*
219
72,883
F&G
Annuities
&
Life,
Inc.
322
13,711
Fidelis
Insurance
Holdings
Ltd.
896
13,180
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Genworth
Financial,
Inc.,
Class
a
A*
7,485
$
52,021
GoHealth,
Inc.,
Class
a
A*
80
1,159
Goosehead
Insurance,
Inc.,
Class
a
A
391
48,175
Greenlight
Capital
Re
Ltd.,
Class
a
A*
480
6,686
Hamilton
Insurance
Group
Ltd.,
Class
a
B*
687
13,438
HCI
Group,
Inc.
146
19,222
Heritage
Insurance
Holdings,
Inc.*
399
4,688
Hippo
Holdings,
Inc.*
349
10,027
Horace
Mann
Educators
Corp.
716
30,308
Investors
Title
Co.
26
6,170
James
River
Group
Holdings
Ltd.
652
3,227
Kingsway
Financial
Services,
Inc.*
221
1,717
Lemonade,
Inc.*(b)
908
33,006
Maiden
Holdings
Ltd.*
1,527
1,475
MBIA,
Inc.*
777
4,716
Mercury
General
Corp.
465
25,078
NI
Holdings,
Inc.*
137
1,951
Oscar
Health,
Inc.,
Class
a
A*
3,464
50,609
Palomar
Holdings,
Inc.*
446
57,382
ProAssurance
Corp.*
888
13,888
Root,
Inc.,
Class
a
A*
150
20,276
Safety
Insurance
Group,
Inc.
256
19,492
Selective
Insurance
Group,
Inc.
1,058
91,036
Selectquote,
Inc.*
2,363
10,775
SiriusPoint
Ltd.*
1,636
25,096
Skyward
Specialty
Insurance
Group,
Inc.*
646
33,605
Stewart
Information
Services
Corp.
470
33,464
Tiptree,
Inc.,
Class
a
A
438
9,912
Trupanion,
Inc.*
573
19,792
United
Fire
Group,
Inc.
365
10,246
Universal
Insurance
Holdings,
Inc.
410
9,094
958,357
Interactive
Media
&
Services
—
0.5%
Bumble,
Inc.,
Class
a
A*
1,670
8,684
Cargurus,
Inc.,
Class
a
A*
1,508
48,542
Cars.com,
Inc.*
1,145
15,114
EverQuote,
Inc.,
Class
a
A*
437
11,747
fuboTV,
Inc.*
5,606
16,986
Getty
Images
Holdings,
Inc.*(b)
1,742
3,728
Grindr,
Inc.*
427
7,835
MediaAlpha,
Inc.,
Class
a
A*
520
4,831
Nextdoor
Holdings,
Inc.*
2,993
5,298
Outbrain,
Inc.*
680
3,369
QuinStreet,
Inc.*
936
18,327
Shutterstock,
Inc.
423
9,090
System1,
Inc.*(b)
409
217
TrueCar,
Inc.*
1,489
3,469
Vimeo,
Inc.*
2,528
14,890
Webtoon
Entertainment,
Inc.*(b)
267
2,414
Yelp,
Inc.,
Class
a
A*
1,125
38,599
RUSSELL
2000
HIGH
INCOME
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
96
ITWO
::
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Ziff
Davis,
Inc.*
768
$
31,534
ZipRecruiter,
Inc.,
Class
a
A*
1,248
6,989
251,663
IT
Services
—
0.5%
Applied
Digital
Corp.*
3,335
26,680
ASGN,
Inc.*
750
50,535
Backblaze,
Inc.,
Class
a
A*
694
4,539
BigBear.ai
Holdings,
Inc.*
1,794
9,257
BigCommerce
Holdings,
Inc.,
Series
1*
1,242
8,793
Couchbase,
Inc.*
691
12,196
DigitalOcean
Holdings,
Inc.*
1,142
48,935
Fastly,
Inc.,
Class
a
A*
2,273
15,479
Grid
Dynamics
Holdings,
Inc.*
993
18,688
Hackett
Group,
Inc.
(The)
438
13,307
Information
Services
Group,
Inc.
618
1,934
Rackspace
Technology,
Inc.*
1,173
2,780
Tucows,
Inc.,
Class
a
A*
139
2,762
Unisys
Corp.*
1,144
4,931
220,816
Leisure
Products
—
0.3%
Acushnet
Holdings
Corp.
493
31,700
AMMO,
Inc.*
1,558
2,493
Clarus
Corp.
531
2,443
Escalade,
Inc.
174
2,650
Funko,
Inc.,
Class
a
A*
545
6,714
JAKKS
Pacific,
Inc.*
143
3,872
Johnson
Outdoors,
Inc.,
Class
a
A
83
2,233
Latham
Group,
Inc.*
705
4,167
Malibu
Boats,
Inc.,
Class
a
A*
340
11,349
Marine
Products
Corp.
154
1,324
MasterCraft
Boat
Holdings,
Inc.*
284
4,993
Peloton
Interactive,
Inc.,
Class
a
A*
6,124
46,114
Smith
&
Wesson
Brands,
Inc.
783
8,503
Solo
Brands,
Inc.,
Class
a
A*
489
365
Sturm
Ruger
&
Co.,
Inc.
285
11,246
Topgolf
Callaway
Brands
Corp.*
2,468
16,116
156,282
Life
Sciences
Tools
&
Services
—
0.2%
Adaptive
Biotechnologies
Corp.*
2,015
16,644
Akoya
Biosciences,
Inc.*
460
750
BioLife
Solutions,
Inc.*
626
15,024
ChromaDex
Corp.*
861
4,856
Codexis,
Inc.*
1,402
4,262
Conduit
Pharmaceuticals,
Inc.*(b)
8
10
CryoPort,
Inc.*
756
4,211
Cytek
Biosciences,
Inc.*
2,109
9,469
Harvard
Bioscience,
Inc.*
706
595
Lifecore
Biomedical,
Inc.*
394
2,301
Maravai
LifeSciences
Holdings,
Inc.,
Class
a
A*
1,918
6,176
Investments
Shares
Value
Common
Stocks
(a)
(continued)
MaxCyte,
Inc.*
1,818
$
6,072
Mesa
Laboratories,
Inc.
89
12,405
Nautilus
Biotechnology,
Inc.,
Class
a
A*
846
1,100
OmniAb,
Inc.*(b)
1,604
5,582
Pacific
Biosciences
of
California,
Inc.*(b)
4,754
6,893
Quanterix
Corp.*
625
4,744
Quantum-Si,
Inc.*
1,739
2,400
Standard
BioTools,
Inc.*
5,126
5,459
108,953
Machinery
—
3.7%
374Water,
Inc.*(b)
1,134
389
3D
Systems
Corp.*
2,215
7,509
Alamo
Group,
Inc.
178
31,146
Albany
International
Corp.,
Class
a
A
544
41,654
Astec
Industries,
Inc.
397
14,125
Atmus
Filtration
Technologies,
Inc.
1,456
57,949
Blue
Bird
Corp.*
558
19,608
Chart
Industries,
Inc.*
746
142,150
Columbus
McKinnon
Corp.
495
8,628
Commercial
Vehicle
Group,
Inc.*
581
1,208
Douglas
Dynamics,
Inc.
394
10,654
Eastern
Co.
(The)
90
2,529
Energy
Recovery,
Inc.*
987
14,766
Enerpac
Tool
Group
Corp.,
Class
a
A
945
43,725
Enpro,
Inc.
365
66,459
ESCO
Technologies,
Inc.
449
74,031
Federal
Signal
Corp.
1,044
84,856
Franklin
Electric
Co.,
Inc.
788
80,494
Gencor
Industries,
Inc.*
180
2,347
Gorman-Rupp
Co.
(The)
364
13,883
Graham
Corp.*
178
6,022
Greenbrier
Cos.,
Inc.
(The)
534
30,011
Helios
Technologies,
Inc.
578
22,802
Hillenbrand,
Inc.
1,222
36,538
Hillman
Solutions
Corp.*
3,418
33,360
Hyliion
Holdings
Corp.*
2,425
4,098
Hyster-Yale,
Inc.
200
10,164
JBT
Marel
Corp.
815
107,580
Kadant,
Inc.
205
76,768
Kennametal,
Inc.
1,354
29,964
L
B
Foster
Co.,
Class
a
A*
157
4,310
Lindsay
Corp.
188
24,839
Luxfer
Holdings
plc
465
5,673
Manitowoc
Co.,
Inc.
(The)*
600
6,210
Mayville
Engineering
Co.,
Inc.*
224
3,349
Miller
Industries,
Inc.
193
11,179
Mueller
Industries,
Inc.
1,942
155,710
Mueller
Water
Products,
Inc.,
Class
a
A
2,703
69,629
NN,
Inc.*
807
2,461
Omega
Flex,
Inc.
62
2,208
Park-Ohio
Holdings
Corp.
156
3,775
Proto
Labs,
Inc.*
439
17,507
FEBRUARY
28,
2025
(Unaudited)
::
RUSSELL
2000
HIGH
INCOME
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
97
ITWO
::
Investments
Shares
Value
Common
Stocks
(a)
(continued)
REV
Group,
Inc.
894
$
27,267
Shyft
Group,
Inc.
(The)
588
5,892
SPX
Technologies,
Inc.*
784
114,190
Standex
International
Corp.
204
37,940
Taylor
Devices,
Inc.*
51
1,712
Tennant
Co.
329
28,478
Terex
Corp.
1,157
47,090
Titan
International,
Inc.*
874
7,446
Trinity
Industries,
Inc.
1,420
44,148
Twin
Disc,
Inc.(b)
195
1,681
Wabash
National
Corp.
747
8,747
Watts
Water
Technologies,
Inc.,
Class
a
A
475
101,926
Worthington
Enterprises,
Inc.
548
23,011
1,831,795
Marine
Transportation
—
0.3%
Costamare,
Inc.
746
7,594
Genco
Shipping
&
Trading
Ltd.
733
10,467
Golden
Ocean
Group
Ltd.
2,116
20,525
Himalaya
Shipping
Ltd.
517
2,818
Matson,
Inc.
569
81,976
Pangaea
Logistics
Solutions
Ltd.
546
2,796
Safe
Bulkers,
Inc.
1,050
3,927
130,103
Media
—
0.7%
Advantage
Solutions,
Inc.*
1,842
4,623
AMC
Networks,
Inc.,
Class
a
A*
556
4,059
Boston
Omaha
Corp.,
Class
a
A*
429
6,109
Cable
One,
Inc.
97
25,237
Cardlytics,
Inc.*(b)
723
1,901
Clear
Channel
Outdoor
Holdings,
Inc.*
6,129
7,661
EchoStar
Corp.,
Class
a
A*
2,115
66,051
Emerald
Holding,
Inc.(b)
262
1,077
Entravision
Communications
Corp.,
Class
a
A
1,069
2,384
EW
Scripps
Co.
(The),
Class
a
A*
1,066
1,727
Gambling.com
Group
Ltd.*
302
4,294
Gannett
Co.,
Inc.*
2,468
9,971
Gray
Media,
Inc.
1,488
5,595
Ibotta,
Inc.,
Class
a
A*
271
9,049
iHeartMedia,
Inc.,
Class
a
A*
1,825
3,230
Integral
Ad
Science
Holding
Corp.*
1,269
13,350
John
Wiley
&
Sons,
Inc.,
Class
a
A
693
27,637
Magnite,
Inc.*
2,189
34,521
National
CineMedia,
Inc.*
1,211
8,102
PubMatic,
Inc.,
Class
a
A*
729
7,749
Scholastic
Corp.
404
8,844
Sinclair,
Inc.
556
8,073
Stagwell,
Inc.,
Class
a
A*
1,495
9,703
TechTarget,
Inc.*
460
6,748
TEGNA,
Inc.
2,879
52,398
Thryv
Holdings,
Inc.*
649
11,189
Townsquare
Media,
Inc.,
Class
a
A
235
2,007
Investments
Shares
Value
Common
Stocks
(a)
(continued)
WideOpenWest,
Inc.*
869
$
4,284
347,573
Metals
&
Mining
—
1.5%
Alpha
Metallurgical
Resources,
Inc.*
191
26,266
Caledonia
Mining
Corp.
plc
286
2,880
Carpenter
Technology
Corp.
828
171,454
Century
Aluminum
Co.*
915
17,339
Coeur
Mining,
Inc.*
10,865
55,955
Commercial
Metals
Co.
1,980
95,911
Compass
Minerals
International,
Inc.
601
6,274
Constellium
SE,
Class
a
A*
2,252
25,628
Contango
ORE,
Inc.*
183
1,713
Critical
Metals
Corp.*
142
271
Dakota
Gold
Corp.*
1,218
3,691
Hecla
Mining
Co.
10,215
52,403
i-80
Gold
Corp.*
5,501
4,257
Ivanhoe
Electric,
Inc.*
1,454
9,029
Kaiser
Aluminum
Corp.
278
19,671
Lifezone
Metals
Ltd.*
634
3,411
MAC
Copper
Ltd.,
Class
a
A*
937
9,436
Materion
Corp.
358
32,707
Metallus,
Inc.*
744
10,743
Novagold
Resources,
Inc.*
4,240
12,720
Olympic
Steel,
Inc.
172
5,714
Perpetua
Resources
Corp.*
671
5,757
Piedmont
Lithium,
Inc.*
316
2,244
Radius
Recycling,
Inc.,
Class
a
A
458
6,334
Ramaco
Resources,
Inc.,
Class
a
A
456
4,077
Ramaco
Resources,
Inc.,
Class
a
B
94
832
Ryerson
Holding
Corp.
468
11,784
SSR
Mining,
Inc.*
3,530
35,265
SunCoke
Energy,
Inc.
1,457
13,215
Tredegar
Corp.*
463
3,607
Warrior
Met
Coal,
Inc.
903
43,470
Worthington
Steel,
Inc.
565
15,069
709,127
Mortgage
Real
Estate
Investment
Trusts
(REITs)
—
0.9%
Advanced
Flower
Capital,
Inc.
295
2,516
AG
Mortgage
Investment
Trust,
Inc.
501
3,793
Angel
Oak
Mortgage
REIT,
Inc.
207
2,064
Apollo
Commercial
Real
Estate
Finance,
Inc.
2,410
24,413
Arbor
Realty
Trust,
Inc.(b)
3,202
39,513
Ares
Commercial
Real
Estate
Corp.
928
4,538
ARMOUR
Residential
REIT,
Inc.
974
18,555
Blackstone
Mortgage
Trust,
Inc.,
Class
a
A
3,018
62,714
BrightSpire
Capital,
Inc.,
Class
a
A
2,246
13,993
Chicago
Atlantic
Real
Estate
Finance,
Inc.
302
4,862
Chimera
Investment
Corp.
1,401
19,936
Claros
Mortgage
Trust,
Inc.
1,499
3,493
RUSSELL
2000
HIGH
INCOME
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
98
ITWO
::
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Dynex
Capital,
Inc.
1,375
$
19,346
Ellington
Financial,
Inc.
1,469
21,080
Franklin
BSP
Realty
Trust,
Inc.
1,428
19,349
Granite
Point
Mortgage
Trust,
Inc.
875
2,590
Invesco
Mortgage
Capital,
Inc.
962
8,456
KKR
Real
Estate
Finance
Trust,
Inc.
1,024
11,356
Ladder
Capital
Corp.,
Class
a
A
1,974
23,431
MFA
Financial,
Inc.
1,780
18,939
New
York
Mortgage
Trust,
Inc.
1,578
11,062
Nexpoint
Real
Estate
Finance,
Inc.
144
2,369
Orchid
Island
Capital,
Inc.
1,370
11,714
PennyMac
Mortgage
Investment
Trust
1,512
22,151
Ready
Capital
Corp.(b)
2,811
19,480
Redwood
Trust,
Inc.
2,290
15,297
Seven
Hills
Realty
Trust
223
2,874
Sunrise
Realty
Trust,
Inc.
98
1,194
TPG
RE
Finance
Trust,
Inc.
1,036
8,941
Two
Harbors
Investment
Corp.
1,805
25,595
445,614
Multi-Utilities
—
0.4%
Avista
Corp.
1,361
54,399
Black
Hills
Corp.
1,219
74,578
Northwestern
Energy
Group,
Inc.
1,073
60,013
Unitil
Corp.
277
15,540
204,530
Office
REITs
—
0.6%
Brandywine
Realty
Trust,
REIT
2,947
14,882
City
Office
REIT,
Inc.
677
3,561
COPT
Defense
Properties,
REIT
1,958
52,925
Douglas
Emmett,
Inc.,
REIT
2,808
48,578
Easterly
Government
Properties,
Inc.,
Class
a
A,
REIT
1,688
19,024
Franklin
Street
Properties
Corp.,
REIT
1,695
3,187
Hudson
Pacific
Properties,
Inc.,
REIT
2,377
7,797
JBG
SMITH
Properties,
REIT
1,418
21,752
NET
Lease
Office
Properties,
REIT*
259
8,402
Orion
Office
REIT,
Inc.
974
4,013
Paramount
Group,
Inc.,
REIT
3,209
14,473
Peakstone
Realty
Trust,
REIT
635
7,201
Piedmont
Office
Realty
Trust,
Inc.,
Class
a
A,
REIT
2,146
16,288
Postal
Realty
Trust,
Inc.,
Class
a
A,
REIT
382
5,321
SL
Green
Realty
Corp.,
REIT
1,225
79,061
306,465
Oil,
Gas
&
Consumable
Fuels
—
2.7%
Aemetis,
Inc.*
628
1,130
Amplify
Energy
Corp.*
681
3,303
Ardmore
Shipping
Corp.(b)
723
6,550
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Berry
Corp.
1,331
$
5,417
BKV
Corp.*
250
5,048
California
Resources
Corp.
1,200
53,544
Centrus
Energy
Corp.,
Class
a
A*
251
22,773
Clean
Energy
Fuels
Corp.*
2,968
6,055
CNX
Resources
Corp.*
2,539
73,377
Comstock
Resources,
Inc.*
1,607
28,894
Core
Natural
Resources,
Inc.
912
67,716
Crescent
Energy
Co.,
Class
a
A
2,827
35,677
CVR
Energy,
Inc.
595
10,960
Delek
US
Holdings,
Inc.
1,103
17,979
DHT
Holdings,
Inc.
2,349
24,289
Diversified
Energy
Co.
plc(b)(c)
817
10,874
Dorian
LPG
Ltd.
631
12,847
Empire
Petroleum
Corp.*
262
1,808
Encore
Energy
Corp.*
3,156
7,953
Energy
Fuels,
Inc.*
3,261
13,435
Evolution
Petroleum
Corp.
534
2,691
Excelerate
Energy,
Inc.,
Class
a
A
297
9,112
FLEX
LNG
Ltd.
532
11,704
FutureFuel
Corp.
454
2,052
Golar
LNG
Ltd.
1,722
66,021
Granite
Ridge
Resources,
Inc.
914
5,365
Green
Plains,
Inc.*
1,108
6,504
Gulfport
Energy
Corp.*
225
38,205
Hallador
Energy
Co.*
439
4,241
HighPeak
Energy,
Inc.
253
3,269
International
Seaways,
Inc.
713
23,764
Kinetik
Holdings,
Inc.,
Class
a
A
666
38,854
Kosmos
Energy
Ltd.*
8,134
22,857
Magnolia
Oil
&
Gas
Corp.,
Class
a
A
3,012
70,511
Murphy
Oil
Corp.
2,494
66,066
NACCO
Industries,
Inc.,
Class
a
A
71
2,292
NextDecade
Corp.*
2,011
16,530
Nordic
American
Tankers
Ltd.
3,543
8,680
Northern
Oil
&
Gas,
Inc.
1,727
54,401
Par
Pacific
Holdings,
Inc.*
946
13,594
PBF
Energy,
Inc.,
Class
a
A
1,745
37,395
Peabody
Energy
Corp.
2,199
30,324
Prairie
Operating
Co.*
74
536
PrimeEnergy
Resources
Corp.*
12
2,351
REX
American
Resources
Corp.*
267
10,312
Riley
Exploration
Permian,
Inc.
198
6,249
Ring
Energy,
Inc.*
2,576
3,297
Sable
Offshore
Corp.*
878
24,909
SandRidge
Energy,
Inc.
559
6,540
Scorpio
Tankers,
Inc.
776
30,924
SFL
Corp.
Ltd.
2,271
20,507
Sitio
Royalties
Corp.,
Class
a
A
1,404
28,080
SM
Energy
Co.
1,989
65,060
Talos
Energy,
Inc.*
2,522
22,698
Teekay
Corp.
Ltd.
957
6,259
Teekay
Tankers
Ltd.,
Class
a
A
417
15,738
Uranium
Energy
Corp.*
6,938
38,853
Ur-Energy,
Inc.*
6,147
5,889
VAALCO
Energy,
Inc.
1,810
7,240
Verde
Clean
Fuels,
Inc.*
58
240
FEBRUARY
28,
2025
(Unaudited)
::
RUSSELL
2000
HIGH
INCOME
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
99
ITWO
::
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Vital
Energy,
Inc.*
498
$
13,302
Vitesse
Energy,
Inc.
435
11,184
W&T
Offshore,
Inc.
1,714
2,862
World
Kinect
Corp.
993
29,730
1,296,821
Paper
&
Forest
Products
—
0.1%
Clearwater
Paper
Corp.*
282
7,374
Sylvamo
Corp.
605
43,016
50,390
Passenger
Airlines
—
0.4%
Allegiant
Travel
Co.
269
19,771
Blade
Air
Mobility,
Inc.*
1,010
3,414
Frontier
Group
Holdings,
Inc.*
733
5,278
JetBlue
Airways
Corp.*
5,431
35,410
Joby
Aviation,
Inc.*(b)
7,515
52,605
SkyWest,
Inc.*
688
68,050
Sun
Country
Airlines
Holdings,
Inc.*
687
11,068
Wheels
Up
Experience,
Inc.*(b)
1,557
1,884
197,480
Personal
Care
Products
—
0.2%
Beauty
Health
Co.
(The)*
1,292
1,899
Edgewell
Personal
Care
Co.
846
26,624
Herbalife
Ltd.*
1,755
14,566
Honest
Co.,
Inc.
(The)*
1,435
7,749
Interparfums,
Inc.
318
44,177
Medifast,
Inc.*
188
2,700
Nature's
Sunshine
Products,
Inc.*
221
3,220
Nu
Skin
Enterprises,
Inc.,
Class
a
A
862
6,827
Olaplex
Holdings,
Inc.*
2,410
3,494
USANA
Health
Sciences,
Inc.*
198
5,859
Veru,
Inc.*
2,294
1,192
Waldencast
plc,
Class
a
A*
431
1,405
119,712
Pharmaceuticals
—
1.6%
Alto
Neuroscience,
Inc.*(b)
372
1,042
Alumis,
Inc.*(b)
244
1,135
Amneal
Pharmaceuticals,
Inc.*
2,768
23,999
Amphastar
Pharmaceuticals,
Inc.*
669
19,020
ANI
Pharmaceuticals,
Inc.*
322
19,929
Aquestive
Therapeutics,
Inc.*(b)
1,289
3,609
Arvinas,
Inc.*
1,118
19,789
Atea
Pharmaceuticals,
Inc.*
1,341
4,063
Avadel
Pharmaceuticals
plc,
ADR*
1,607
12,711
Axsome
Therapeutics,
Inc.*
640
81,626
BioAge
Labs,
Inc.*
212
982
Biote
Corp.,
Class
a
A*
469
2,049
Cassava
Sciences,
Inc.*
706
1,694
Collegium
Pharmaceutical,
Inc.*
557
16,181
Contineum
Therapeutics,
Inc.,
Class
a
A*
183
1,288
Corcept
Therapeutics,
Inc.*
1,405
85,115
Investments
Shares
Value
Common
Stocks
(a)
(continued)
CorMedix,
Inc.*
1,055
$
10,930
Edgewise
Therapeutics,
Inc.*
1,261
33,000
Enliven
Therapeutics,
Inc.*(b)
612
12,748
Esperion
Therapeutics,
Inc.*
3,285
5,584
Evolus,
Inc.*
962
14,036
EyePoint
Pharmaceuticals,
Inc.*
1,137
7,129
Fulcrum
Therapeutics,
Inc.*
1,079
3,874
Harmony
Biosciences
Holdings,
Inc.*
663
22,442
Harrow,
Inc.*
532
14,939
Innoviva,
Inc.*
964
17,275
Ligand
Pharmaceuticals,
Inc.*
301
36,791
Liquidia
Corp.*
1,101
17,054
Lyra
Therapeutics,
Inc.*(b)
838
179
MBX
Biosciences,
Inc.*(b)
197
1,891
MediWound
Ltd.*
136
2,258
Mind
Medicine
MindMed,
Inc.*
1,402
9,421
Nektar
Therapeutics,
Class
a
A*
3,102
2,606
Neumora
Therapeutics,
Inc.*(b)
1,461
2,279
Nuvation
Bio,
Inc.*
3,151
6,207
Ocular
Therapeutix,
Inc.*
2,708
19,335
Omeros
Corp.*(b)
973
8,183
Pacira
BioSciences,
Inc.*
795
19,120
Phathom
Pharmaceuticals,
Inc.*
682
3,765
Phibro
Animal
Health
Corp.,
Class
a
A
355
8,073
Pliant
Therapeutics,
Inc.*
990
3,406
Prestige
Consumer
Healthcare,
Inc.*
860
72,885
Rapport
Therapeutics,
Inc.*
162
1,625
scPharmaceuticals,
Inc.*
684
2,243
Septerna,
Inc.*
323
2,090
SIGA
Technologies,
Inc.
805
4,419
Supernus
Pharmaceuticals,
Inc.*
873
27,988
Tarsus
Pharmaceuticals,
Inc.*
639
28,423
Telomir
Pharmaceuticals,
Inc.*
337
1,348
Terns
Pharmaceuticals,
Inc.*
1,222
4,509
Theravance
Biopharma,
Inc.*
639
5,975
Third
Harmonic
Bio,
Inc.*
345
1,190
Trevi
Therapeutics,
Inc.*
1,052
4,755
Ventyx
Biosciences,
Inc.*
1,056
1,668
Verrica
Pharmaceuticals,
Inc.*
325
211
WaVe
Life
Sciences
Ltd.*
1,603
16,944
Xeris
Biopharma
Holdings,
Inc.*
2,437
9,334
Zevra
Therapeutics,
Inc.*
918
7,353
769,717
Professional
Services
—
2.1%
Alight,
Inc.,
Class
a
A
7,297
49,839
Asure
Software,
Inc.*
424
4,448
Barrett
Business
Services,
Inc.
444
17,871
BlackSky
Technology,
Inc.*
438
6,338
CBIZ,
Inc.*
834
65,194
Conduent,
Inc.*
2,749
9,731
CRA
International,
Inc.
114
22,019
CSG
Systems
International,
Inc.
515
33,115
DLH
Holdings
Corp.*
147
744
ExlService
Holdings,
Inc.*
2,732
132,365
Exponent,
Inc.
880
74,501
RUSSELL
2000
HIGH
INCOME
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
100
ITWO
::
Investments
Shares
Value
Common
Stocks
(a)
(continued)
First
Advantage
Corp.*
1,040
$
15,558
FiscalNote
Holdings,
Inc.*(b)
1,087
1,337
Forrester
Research,
Inc.*
206
2,283
Franklin
Covey
Co.*
195
6,236
Heidrick
&
Struggles
International,
Inc.
349
14,306
HireQuest,
Inc.
94
1,425
Huron
Consulting
Group,
Inc.*
305
46,500
IBEX
Holdings
Ltd.*
149
3,771
ICF
International,
Inc.
323
25,601
Innodata,
Inc.*
470
24,778
Insperity,
Inc.
623
54,805
Kelly
Services,
Inc.,
Class
a
A
541
7,287
Kforce,
Inc.
318
15,938
Korn
Ferry
905
59,413
Legalzoom.com,
Inc.*
2,230
22,657
Maximus,
Inc.
1,044
68,069
Mistras
Group,
Inc.*
366
3,601
NV5
Global,
Inc.*
994
17,942
Planet
Labs
PBC*
3,752
17,334
Resources
Connection,
Inc.
582
4,237
Spire
Global,
Inc.*
389
4,439
TriNet
Group,
Inc.
556
40,983
TrueBlue,
Inc.*
507
3,184
TTEC
Holdings,
Inc.
340
1,149
Upwork,
Inc.*
2,166
34,504
Verra
Mobility
Corp.,
Class
a
A*
2,865
65,580
Willdan
Group,
Inc.*
221
7,227
WNS
Holdings
Ltd.*
745
42,368
1,028,677
Real
Estate
Management
&
Development
—
0.6%
American
Realty
Investors,
Inc.*
28
431
Anywhere
Real
Estate,
Inc.*
1,707
5,923
Compass,
Inc.,
Class
a
A*
6,340
56,997
Cushman
&
Wakefield
plc*
3,982
47,346
eXp
World
Holdings,
Inc.(b)
1,425
14,407
Forestar
Group,
Inc.*
330
7,277
FRP
Holdings,
Inc.*
231
7,249
Kennedy-Wilson
Holdings,
Inc.
1,978
19,206
Marcus
&
Millichap,
Inc.
409
15,738
Maui
Land
&
Pineapple
Co.,
Inc.*
132
2,569
Newmark
Group,
Inc.,
Class
a
A
2,289
33,580
Offerpad
Solutions,
Inc.*
181
358
Opendoor
Technologies,
Inc.*(b)
10,950
14,673
RE/MAX
Holdings,
Inc.,
Class
a
A*
313
2,779
Real
Brokerage,
Inc.
(The)*
1,746
9,009
Redfin
Corp.*
2,080
13,874
RMR
Group,
Inc.
(The),
Class
a
A
268
4,883
St
Joe
Co.
(The)
626
30,029
Star
Holdings*
226
2,091
Stratus
Properties,
Inc.*
96
1,774
Tejon
Ranch
Co.*
365
5,606
Transcontinental
Realty
Investors,
Inc.*
22
634
296,433
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Residential
REITs
—
0.5%
Apartment
Investment
and
Management
Co.,
Class
a
A,
REIT
2,420
$
21,901
BRT
Apartments
Corp.,
REIT
196
3,536
Centerspace,
REIT
287
18,996
Clipper
Realty,
Inc.,
REIT
207
969
Elme
Communities,
REIT
1,531
26,624
Independence
Realty
Trust,
Inc.,
REIT
3,930
85,674
NexPoint
Residential
Trust,
Inc.,
REIT
389
16,552
UMH
Properties,
Inc.,
REIT
1,258
23,814
Veris
Residential,
Inc.,
REIT
1,366
23,126
221,192
Retail
REITs
—
1.2%
Acadia
Realty
Trust,
REIT
2,038
46,996
Alexander's,
Inc.,
REIT
37
7,930
CBL
&
Associates
Properties,
Inc.,
REIT
382
11,911
Curbline
Properties
Corp.,
REIT
1,651
40,664
FrontView
REIT,
Inc.
250
4,275
Getty
Realty
Corp.,
REIT
878
27,569
InvenTrust
Properties
Corp.,
REIT
1,348
40,143
Kite
Realty
Group
Trust,
REIT
3,777
86,607
Macerich
Co.
(The),
REIT
4,116
74,253
NETSTREIT
Corp.,
REIT(b)
1,353
20,241
Phillips
Edison
&
Co.,
Inc.,
REIT
2,135
79,422
Saul
Centers,
Inc.,
REIT
183
6,853
SITE
Centers
Corp.,
REIT
827
11,586
Tanger,
Inc.,
REIT
1,851
65,618
Urban
Edge
Properties,
REIT
2,191
45,135
Whitestone
REIT
861
11,727
580,930
Semiconductors
&
Semiconductor
Equipment
—
2.0%
ACM
Research,
Inc.,
Class
a
A*
887
23,009
Aehr
Test
Systems*
495
4,772
Alpha
&
Omega
Semiconductor
Ltd.*
413
12,506
Ambarella,
Inc.*
660
40,544
Axcelis
Technologies,
Inc.*
566
31,011
CEVA,
Inc.*
406
13,910
Cohu,
Inc.*
803
15,787
Credo
Technology
Group
Holding
Ltd.*
2,435
134,363
Diodes,
Inc.*
791
39,060
Everspin
Technologies,
Inc.*
345
1,946
FormFactor,
Inc.*
1,347
44,855
GCT
Semiconductor
Holding,
Inc.*(b)
135
259
Ichor
Holdings
Ltd.*
574
16,812
Impinj,
Inc.*
399
38,567
indie
Semiconductor,
Inc.,
Class
a
A*(b)
2,852
8,585
Kulicke
&
Soffa
Industries,
Inc.
921
35,247
MaxLinear,
Inc.,
Class
a
A*
1,389
20,293
FEBRUARY
28,
2025
(Unaudited)
::
RUSSELL
2000
HIGH
INCOME
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
101
ITWO
::
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Navitas
Semiconductor
Corp.,
Class
a
A*(b)
2,193
$
5,351
NVE
Corp.
83
5,714
PDF
Solutions,
Inc.*
542
12,206
Penguin
Solutions,
Inc.*
907
18,076
Photronics,
Inc.*
1,072
22,340
Power
Integrations,
Inc.
983
59,766
QuickLogic
Corp.*
241
1,482
Rambus,
Inc.*
1,857
103,788
Rigetti
Computing,
Inc.*(b)
2,740
23,180
Semtech
Corp.*
1,262
48,196
Silicon
Laboratories,
Inc.*
556
78,007
SiTime
Corp.*
322
49,958
SkyWater
Technology,
Inc.*
473
4,413
Synaptics,
Inc.*
687
45,438
Ultra
Clean
Holdings,
Inc.*
770
18,942
Veeco
Instruments,
Inc.*
967
21,506
999,889
Software
—
5.8%
8x8,
Inc.*
2,223
5,558
A10
Networks,
Inc.
1,233
25,634
ACI
Worldwide,
Inc.*
1,834
105,180
Adeia,
Inc.
1,892
29,742
Agilysys,
Inc.*
392
31,748
Airship
AI
Holdings,
Inc.*
140
594
Alarm.com
Holdings,
Inc.*
823
47,808
Alkami
Technology,
Inc.*
921
28,404
Altair
Engineering,
Inc.,
Class
a
A*
944
105,350
Amplitude,
Inc.,
Class
a
A*
1,359
17,110
Appian
Corp.,
Class
a
A*
700
22,729
Arteris,
Inc.*
493
4,486
Asana,
Inc.,
Class
a
A*
1,413
27,200
AudioEye,
Inc.*
125
1,626
Aurora
Innovation,
Inc.,
Class
a
A*
16,692
121,351
AvePoint,
Inc.*
2,240
33,466
Bit
Digital,
Inc.*
2,081
5,119
Blackbaud,
Inc.*
704
46,534
BlackLine,
Inc.*
1,004
48,493
Blend
Labs,
Inc.,
Class
a
A*
4,126
12,914
Box,
Inc.,
Class
a
A*
2,448
80,050
Braze,
Inc.,
Class
a
A*
1,145
42,342
C3.ai,
Inc.,
Class
a
A*(b)
1,922
45,071
Cerence,
Inc.*
717
8,181
Cipher
Mining,
Inc.*
3,522
14,370
Cleanspark,
Inc.*
4,327
34,573
Clear
Secure,
Inc.,
Class
a
A
1,526
36,182
Clearwater
Analytics
Holdings,
Inc.,
Class
a
A*
3,109
96,690
Commvault
Systems,
Inc.*
758
129,285
Consensus
Cloud
Solutions,
Inc.*
314
8,217
Core
Scientific,
Inc.*
3,103
34,630
CS
Disco,
Inc.*
505
2,434
Daily
Journal
Corp.*
25
9,832
Digimarc
Corp.*
263
4,300
Digital
Turbine,
Inc.*
1,668
5,721
Domo,
Inc.,
Class
a
B*
597
4,537
D-Wave
Quantum,
Inc.*(b)
1,721
9,431
Investments
Shares
Value
Common
Stocks
(a)
(continued)
E2open
Parent
Holdings,
Inc.*
3,556
$
8,143
eGain
Corp.*
304
1,490
Enfusion,
Inc.,
Class
a
A*
863
9,907
EverCommerce,
Inc.*
368
3,651
Freshworks,
Inc.,
Class
a
A*
3,596
61,348
Hut
8
Corp.*
1,409
20,783
I3
Verticals,
Inc.,
Class
a
A*
402
10,424
Intapp,
Inc.*
925
61,013
InterDigital,
Inc.
438
93,574
Jamf
Holding
Corp.*
1,424
19,480
Kaltura,
Inc.*
1,694
3,591
Life360,
Inc.*
178
8,046
LiveRamp
Holdings,
Inc.*
1,147
34,272
Logility
Supply
Chain
Solutions,
Inc.,
Class
a
A
549
7,757
MARA
Holdings,
Inc.*(b)
4,950
68,904
Matterport,
Inc.*
4,644
25,356
Meridianlink,
Inc.*
568
10,372
Mitek
Systems,
Inc.*
793
7,430
N-able,
Inc.*
1,243
12,467
NCR
Voyix
Corp.*
2,531
28,550
NextNav,
Inc.*
1,347
14,130
Olo,
Inc.,
Class
a
A*
1,822
12,554
ON24,
Inc.*
480
2,678
OneSpan,
Inc.
661
10,602
Ooma,
Inc.*
437
6,284
Pagaya
Technologies
Ltd.,
Class
a
A*(b)
626
8,032
PagerDuty,
Inc.*
1,557
27,590
Porch
Group,
Inc.*
1,375
9,611
Progress
Software
Corp.
738
40,324
PROS
Holdings,
Inc.*
793
19,175
Q2
Holdings,
Inc.*
1,025
89,554
Qualys,
Inc.*
645
84,792
Rapid7,
Inc.*
1,076
31,301
Red
Violet,
Inc.
192
7,799
Rekor
Systems,
Inc.*(b)
1,280
1,574
ReposiTrak,
Inc.
205
4,026
Rimini
Street,
Inc.*
921
3,270
Riot
Platforms,
Inc.*(b)
4,960
46,029
Roadzen,
Inc.*
656
804
Sapiens
International
Corp.
NV
535
14,755
SEMrush
Holdings,
Inc.,
Class
a
A*
641
7,051
Silvaco
Group,
Inc.*(b)
105
650
SolarWinds
Corp.
946
17,321
SoundHound
AI,
Inc.,
Class
a
A*(b)
5,364
58,039
SoundThinking,
Inc.*
173
2,842
Sprinklr,
Inc.,
Class
a
A*
2,028
17,177
Sprout
Social,
Inc.,
Class
a
A*
869
23,046
SPS
Commerce,
Inc.*
657
87,512
Telos
Corp.*
958
2,864
Tenable
Holdings,
Inc.*
2,049
78,149
Terawulf,
Inc.*(b)
4,653
19,496
Varonis
Systems,
Inc.,
Class
a
B*
1,915
82,288
Verint
Systems,
Inc.*
1,063
23,992
Vertex,
Inc.,
Class
a
A*
943
30,450
Viant
Technology,
Inc.,
Class
a
A*
266
5,317
Weave
Communications,
Inc.*
689
8,681
RUSSELL
2000
HIGH
INCOME
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
102
ITWO
::
Investments
Shares
Value
Common
Stocks
(a)
(continued)
WM
Technology,
Inc.*
1,497
$
1,961
Workiva,
Inc.,
Class
a
A*
879
76,930
Xperi,
Inc.*
794
6,717
Yext,
Inc.*
1,851
12,587
Zeta
Global
Holdings
Corp.,
Class
a
A*
3,108
53,489
2,834,893
Specialized
REITs
—
0.4%
Farmland
Partners,
Inc.,
REIT
766
8,985
Four
Corners
Property
Trust,
Inc.,
REIT
1,676
48,185
Gladstone
Land
Corp.,
REIT
584
6,693
Outfront
Media,
Inc.,
REIT
2,511
46,705
PotlatchDeltic
Corp.,
REIT
1,380
64,073
Safehold,
Inc.,
REIT
902
16,831
Uniti
Group,
Inc.,
REIT
4,227
24,263
215,735
Specialty
Retail
—
2.0%
1-800-Flowers.com,
Inc.,
Class
a
A*
442
3,050
Abercrombie
&
Fitch
Co.,
Class
a
A*
874
90,013
Academy
Sports
&
Outdoors,
Inc.
1,198
59,409
aka
Brands
Holding
Corp.*
11
157
American
Eagle
Outfitters,
Inc.
3,089
40,435
America's
Car-Mart,
Inc.*
124
5,191
Arhaus,
Inc.,
Class
a
A
893
8,501
Arko
Corp.
1,400
6,314
Asbury
Automotive
Group,
Inc.*
342
91,793
BARK,
Inc.*
2,254
3,809
Beyond,
Inc.*(b)
792
5,061
Boot
Barn
Holdings,
Inc.*
514
62,929
Buckle,
Inc.
(The)
538
21,547
Build-A-Bear
Workshop,
Inc.
217
8,880
Caleres,
Inc.
596
9,631
Camping
World
Holdings,
Inc.,
Class
a
A
974
18,983
Citi
Trends,
Inc.*
110
2,709
Designer
Brands,
Inc.,
Class
a
A
706
2,838
Destination
XL
Group,
Inc.*
930
2,130
EVgo,
Inc.,
Class
a
A*
1,749
4,635
Foot
Locker,
Inc.*
1,451
25,131
Genesco,
Inc.*
183
6,692
Group
1
Automotive,
Inc.
230
105,703
GrowGeneration
Corp.*
970
1,106
Haverty
Furniture
Cos.,
Inc.
256
5,845
J
Jill,
Inc.
104
2,465
Lands'
End,
Inc.*
248
2,921
Leslie's,
Inc.*
3,124
3,249
MarineMax,
Inc.*
377
9,557
Monro,
Inc.
519
9,243
National
Vision
Holdings,
Inc.*
1,354
17,209
ODP
Corp.
(The)*
569
8,854
OneWater
Marine,
Inc.,
Class
a
A*
207
3,428
Petco
Health
&
Wellness
Co.,
Inc.,
Class
a
A*
1,464
3,938
RealReal,
Inc.
(The)*
1,742
11,881
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Revolve
Group,
Inc.,
Class
a
A*
668
$
17,742
RumbleON,
Inc.,
Class
a
B*
298
1,255
Sally
Beauty
Holdings,
Inc.*
1,791
16,155
Shoe
Carnival,
Inc.
310
6,863
Signet
Jewelers
Ltd.
734
38,403
Sleep
Number
Corp.*
377
5,304
Sonic
Automotive,
Inc.,
Class
a
A
258
17,585
Stitch
Fix,
Inc.,
Class
a
A*
1,761
8,330
ThredUp,
Inc.,
Class
a
A*
1,368
3,229
Tile
Shop
Holdings,
Inc.*
498
3,770
Tilly's,
Inc.,
Class
a
A*
258
980
Torrid
Holdings,
Inc.*
352
2,112
Upbound
Group,
Inc.
932
24,064
Urban
Outfitters,
Inc.*
1,100
64,009
Victoria's
Secret
&
Co.*
1,365
36,487
Warby
Parker,
Inc.,
Class
a
A*
1,539
38,060
Winmark
Corp.
51
17,140
Zumiez,
Inc.*
270
3,850
970,575
Technology
Hardware,
Storage
&
Peripherals
—
0.3%
CompoSecure,
Inc.,
Class
a
A(b)
429
5,723
Corsair
Gaming,
Inc.*
779
9,145
CPI
Card
Group,
Inc.*
86
2,878
Diebold
Nixdorf,
Inc.*
438
19,373
Eastman
Kodak
Co.*
1,052
7,385
Immersion
Corp.
536
4,309
IonQ,
Inc.*
3,495
85,872
Turtle
Beach
Corp.*
287
4,919
Xerox
Holdings
Corp.
2,022
13,406
153,010
Textiles,
Apparel
&
Luxury
Goods
—
0.4%
Figs,
Inc.,
Class
a
A*
2,259
10,324
G-III
Apparel
Group
Ltd.*
678
18,353
Hanesbrands,
Inc.*
6,143
37,042
Kontoor
Brands,
Inc.
958
62,308
Movado
Group,
Inc.
264
5,098
Oxford
Industries,
Inc.
259
16,066
Rocky
Brands,
Inc.
126
2,563
Steven
Madden
Ltd.
1,259
41,283
Superior
Group
of
Cos.,
Inc.
227
3,244
Vera
Bradley,
Inc.*
426
1,397
Wolverine
World
Wide,
Inc.
1,380
20,410
218,088
Tobacco
—
0.1%
Ispire
Technology,
Inc.*(b)
334
1,583
Turning
Point
Brands,
Inc.
298
20,950
Universal
Corp.
417
22,355
44,888
Trading
Companies
&
Distributors
—
2.3%
Alta
Equipment
Group,
Inc.(b)
467
2,559
Applied
Industrial
Technologies,
Inc.
669
167,638
Beacon
Roofing
Supply,
Inc.*
1,078
124,423
BlueLinx
Holdings,
Inc.*
144
11,429
Boise
Cascade
Co.
676
70,074
FEBRUARY
28,
2025
(Unaudited)
::
RUSSELL
2000
HIGH
INCOME
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
103
ITWO
::
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Custom
Truck
One
Source,
Inc.*
859
$
3,805
Distribution
Solutions
Group,
Inc.*
183
5,395
DNOW,
Inc.*
1,835
29,323
DXP
Enterprises,
Inc.*
217
19,632
EVI
Industries,
Inc.
89
1,542
FTAI
Aviation
Ltd.
1,765
227,173
GATX
Corp.
619
103,404
Global
Industrial
Co.
237
5,558
GMS,
Inc.*
685
54,533
H&E
Equipment
Services,
Inc.
560
53,704
Herc
Holdings,
Inc.
490
70,305
Hudson
Technologies,
Inc.*
774
4,458
Karat
Packaging,
Inc.
118
3,529
McGrath
RentCorp
425
51,850
MRC
Global,
Inc.*
1,466
17,841
Rush
Enterprises,
Inc.,
Class
a
A
1,058
61,703
Rush
Enterprises,
Inc.,
Class
a
B
154
8,769
Titan
Machinery,
Inc.*
364
6,257
Transcat,
Inc.*
157
12,485
Willis
Lease
Finance
Corp.
50
10,113
Xometry,
Inc.,
Class
a
A*
738
20,162
1,147,664
Transportation
Infrastructure
—
0.0%(d)
Sky
Harbour
Group
Corp.*
198
2,184
Water
Utilities
—
0.3%
American
States
Water
Co.
648
49,598
Cadiz,
Inc.*
731
3,114
California
Water
Service
Group
1,035
47,041
Consolidated
Water
Co.
Ltd.
262
7,092
Global
Water
Resources,
Inc.
203
2,330
Middlesex
Water
Co.
306
15,340
Pure
Cycle
Corp.*
362
4,210
SJW
Group
580
30,549
York
Water
Co.
(The)
249
7,980
167,254
Wireless
Telecommunication
Services
—
0.2%
Gogo,
Inc.*(b)
1,127
8,261
Spok
Holdings,
Inc.
319
5,375
Telephone
and
Data
Systems,
Inc.
1,716
61,948
75,584
Total
Common
Stocks
(Cost
$43,949,964)
44,864,366
Securities
Lending
Reinvestments
(e)
—
1.8%
Investment
Companies
—
1.8%
Invesco
Government
&
Agency
Portfolio,
Institutional
Class
4.29%
(f)
(Cost
$865,729)
865,729
865,729
Investments
Principal
Amount
Value
Short-Term
Investments
—
6.4%
Repurchase
Agreements
(g)
—
6.4%
Repurchase
Agreements
with
various
counterparties,
rates
4.15%
-
4.36%,
dated
2/28/2025,
due
3/3/2025,
total
to
be
received
$3,149,052
(Cost
$3,147,915)
$
3,147,915
$
3,147,915
Total
Investments
—
100.0%
(Cost
$47,963,608)
48,878,010
Liabilities
in
excess
of
other
assets
—
0.0%(d)
(6,594)
Net
Assets
—
100.0%
$
48,871,416
*
Non-income
producing
security.
(a)
All
or
a
portion
of
these
securities
are
segregated
in
connection
with
obligations
for
swaps
with
a
total
value
of
$9,741,954.
(b)
The
security
or
a
portion
of
this
security
is
on
loan
at
February
28,
2025.
The
total
value
of
securities
on
loan
at
February
28,
2025
was
$917,180,
collateralized
in
the
form
of
cash
with
a
value
of
$865,729
that
was
reinvested
in
the
securities
shown
in
the
Securities
Lending
Reinvestment
section
of
the
Schedule
of
Portfolio
Investments
and
$75,176
of
collateral
in
the
form
of
U.S.
Government
Treasury
Securities,
interest
rates
ranging
from
0.00%
–
6.13%,
and
maturity
dates
ranging
from
March
6,
2025
–
February
15,
2055.
The
total
value
of
collateral
is
$940,905.
(c)
Security
exempt
from
registration
pursuant
to
Regulation
S
under
the
Securities
Act
of
1933.
Regulation
S
applies
to
securities
offerings
that
are
made
outside
of
the
United
States
and
do
not
involve
direct
selling
efforts
in
the
United
States
and
as
such
may
have
restrictions
on
resale.
(d)
Represents
less
than
0.05%
of
net
assets.
(e)
The
security
was
purchased
with
cash
collateral
held
from
securities
on
loan
at
February
28,
2025.
The
total
value
of
securities
purchased
was
$865,729.
(f)
Rate
shown
is
the
7-day
yield
as
of
February
28,
2025.
(g)
The
Fund
invests
in
Repurchase
Agreements
jointly
with
other
funds
in
the
Trust.
See
"Repurchase
Agreements"
in
the
Notes
to
Schedules
of
Portfolio
Investments
to
view
the
details
of
each
individual
agreement
and
counterparty
as
well
as
a
description
of
the
securities
subject
to
repurchase.
Abbreviations
ADR
American
Depositary
Receipt
REIT
Real
Estate
Investment
Trust
RUSSELL
2000
HIGH
INCOME
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
104
ITWO
::
Futures
Contracts
Purchased
Russell
2000
High
Income
ETF
had
the
following
open
long
futures
contracts
as
of
February
28,
2025:
Number
of
Contracts
AAAAAA
Expiration
Date
AAAAAA
Trading
Currency
AA
Notional
Amount
AAAAAA
Value
and
Unrealized
Depreciation
AAAAAA
Russell
2000
E-Mini
Index
34
3/21/2025
U.S.
Dollar
$
3,681,010
$
(360,433
)
Swap
Agreements
Russell
2000
High
Income
ETF
had
the
following
open
non-exchange
traded
total
return
swap
agreements
as
of
February
28,
2025:
Notional
Amount  
($)
Termination
Date
a
Counterparty
Rate
Paid
(Received)
b
Reference
Instrument
Value
and
Unrealized
Depreciation
($)
48,540,367
4/7/2025
Goldman
Sachs
International
N/A
Russell
2000
®
Daily
Covered
Call
Index
(119,099)
48,540,367
(119,099)
Total
Unrealized
Depreciation
(119,099)
a
Agreements
may
be
terminated
at
will
by
either
party
without
penalty.
Payment
is
due
at
termination/maturity.
b
No
financing
fee
is
paid
or
received
on
this
swap.
The
fund
receives
the
appreciation
on
the
Reference
Instrument
from
the
counterparty
and
pays
the
deprecation
on
the
Reference
Instrument
to
the
counterparty.
This
amount
is
included
as
part
of
the
unrealized
appreciation/
(depreciation).
FEBRUARY
28,
2025
(Unaudited)
::
RUSSELL
U.S.
DIVIDEND
GROWERS
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
105
TMDV
::
Investments
Shares
Value
Common
Stocks
—
99
.6
%
Banks
—
3.0%
Commerce
Bancshares,
Inc.
1,154
$
75,068
United
Bankshares,
Inc.
1,903
68,774
143,842
Beverages
—
4.7%
Brown-Forman
Corp.,
Class
a
B
1,787
59,168
Coca-Cola
Co.
(The)
1,269
90,365
PepsiCo,
Inc.
502
77,042
226,575
Building
Products
—
1.2%
Carlisle
Cos.,
Inc.
179
60,996
Capital
Markets
—
4.6%
Franklin
Resources,
Inc.
3,622
73,346
S&P
Global,
Inc.
153
81,662
T.
Rowe
Price
Group,
Inc.
639
67,555
222,563
Chemicals
—
8.7%
Air
Products
and
Chemicals,
Inc.
248
78,405
HB
Fuller
Co.
1,050
59,577
PPG
Industries,
Inc.
631
71,442
RPM
International,
Inc.
579
71,732
Sherwin-Williams
Co.
(The)
206
74,628
Stepan
Co.
1,058
65,342
421,126
Commercial
Services
&
Supplies
—
3.0%
ABM
Industries,
Inc.
1,381
75,030
MSA
Safety,
Inc.
450
73,665
148,695
Consumer
Staples
Distribution
&
Retail
—
4.7%
Sysco
Corp.
983
74,256
Target
Corp.
599
74,420
Walmart,
Inc.
829
81,747
230,423
Containers
&
Packaging
—
1.5%
Sonoco
Products
Co.
1,548
74,026
Distributors
—
1.6%
Genuine
Parts
Co.
642
80,173
Electrical
Equipment
—
1.5%
Emerson
Electric
Co.
605
73,574
Food
Products
—
6.4%
Archer-Daniels-Midland
Co.
1,543
72,830
Hormel
Foods
Corp.
2,444
69,972
Lancaster
Colony
Corp.
441
84,299
McCormick
&
Co.,
Inc.
(Non-Voting)
1,022
84,427
311,528
Investments
Shares
Value
Common
Stocks
(continued)
Gas
Utilities
—
7.4%
Atmos
Energy
Corp.
559
$
85,040
National
Fuel
Gas
Co.
1,300
97,760
Northwest
Natural
Holding
Co.
1,893
77,386
UGI
Corp.
2,861
97,732
357,918
Health
Care
Equipment
&
Supplies
—
5.4%
Abbott
Laboratories
685
94,537
Becton
Dickinson
&
Co.
361
81,416
Medtronic
plc
944
86,867
262,820
Health
Care
REITs
—
1.6%
Universal
Health
Realty
Income
Trust,
REIT
1,973
78,762
Hotels,
Restaurants
&
Leisure
—
1.7%
McDonald's
Corp.
266
82,016
Household
Products
—
6.5%
Clorox
Co.
(The)
475
74,285
Colgate-Palmolive
Co.
842
76,765
Kimberly-Clark
Corp.
589
83,644
Procter
&
Gamble
Co.
(The)
457
79,445
314,139
Insurance
—
6.3%
Aflac,
Inc.
740
81,008
Cincinnati
Financial
Corp.
509
75,235
Old
Republic
International
Corp.
2,109
81,218
RLI
Corp.
924
70,307
307,768
Machinery
—
7.7%
Dover
Corp.
394
78,315
Gorman-Rupp
Co.
(The)
1,889
72,046
Illinois
Tool
Works,
Inc.
291
76,818
Nordson
Corp.
312
65,611
Stanley
Black
&
Decker,
Inc.
939
81,252
374,042
Metals
&
Mining
—
1.6%
Nucor
Corp.
556
76,433
Multi-Utilities
—
3.4%
Black
Hills
Corp.
1,282
78,433
Consolidated
Edison,
Inc.
837
84,972
163,405
Oil,
Gas
&
Consumable
Fuels
—
1.7%
Chevron
Corp.
510
80,896
Pharmaceuticals
—
1.8%
Johnson
&
Johnson
531
87,626
RUSSELL
U.S.
DIVIDEND
GROWERS
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
106
TMDV
::
Investments
Shares
Value
Common
Stocks
(continued)
Professional
Services
—
1.7%
Automatic
Data
Processing,
Inc.
261
$
82,262
Retail
REITs
—
1.5%
Federal
Realty
Investment
Trust,
REIT
696
73,373
Specialty
Retail
—
1.5%
Lowe's
Cos.,
Inc.
291
72,354
Tobacco
—
1.5%
Universal
Corp.
1,407
75,429
Trading
Companies
&
Distributors
—
1.4%
WW
Grainger,
Inc.
66
67,400
Water
Utilities
—
6.0%
American
States
Water
Co.
966
73,938
California
Water
Service
Group
1,629
74,038
Middlesex
Water
Co.
1,309
65,620
SJW
Group
1,496
78,794
292,390
Total
Common
Stocks
(Cost
$4,858,568)
4,842,554
Principal
Amount
Short-Term
Investments
—
0
.2
%
Repurchase
Agreements
(a)
—
0
.2
%
Repurchase
Agreements
with
various
counterparties,
rates
4.15%
-
4.36%,
dated
2/28/2025,
due
3/3/2025,
total
to
be
received
$9,796
(Cost
$9,793)
$
9,793
9,793
Total
Investments
—
99.8%
(Cost
$4,868,361)
4,852,347
Other
assets
less
liabilities
—
0.2%
8,611
Net
Assets
—
100.0%
$
4,860,958
(a)
The
Fund
invests
in
Repurchase
Agreements
jointly
with
other
funds
in
the
Trust.
See
"Repurchase
Agreements"
in
the
Notes
to
Schedules
of
Portfolio
Investments
to
view
the
details
of
each
individual
agreement
and
counterparty
as
well
as
a
description
of
the
securities
subject
to
repurchase.
Abbreviations
REIT
Real
Estate
Investment
Trust
FEBRUARY
28,
2025
(Unaudited)
::
S&P
500
®
DIVIDEND
ARISTOCRATS
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
107
NOBL
::
Investments
Shares
Value
Common
Stocks
—
99
.8
%
Aerospace
&
Defense
—
1.3%
General
Dynamics
Corp.
636,050
$
160,666,230
Air
Freight
&
Logistics
—
2.8%
CH
Robinson
Worldwide,
Inc.
1,566,785
159,216,691
Expeditors
International
of
Washington,
Inc.
1,499,827
176,019,697
335,236,388
Beverages
—
4.5%
Brown-Forman
Corp.,
Class
a
B
4,996,008
165,417,825
Coca-Cola
Co.
(The)
2,736,839
194,890,305
PepsiCo,
Inc.
1,136,437
174,408,986
534,717,116
Biotechnology
—
1.7%
AbbVie,
Inc.
994,929
207,970,009
Building
Products
—
1.3%
A
O
Smith
Corp.
2,401,357
159,642,213
Capital
Markets
—
5.6%
FactSet
Research
Systems,
Inc.
362,782
167,510,961
Franklin
Resources,
Inc.
8,435,269
170,814,197
S&P
Global,
Inc.
329,869
176,064,280
T.
Rowe
Price
Group,
Inc.
1,483,806
156,867,970
671,257,408
Chemicals
—
8.4%
Air
Products
and
Chemicals,
Inc.
514,680
162,716,082
Albemarle
Corp.
1,909,233
147,068,218
Ecolab,
Inc.
700,083
188,329,328
Linde
plc
385,800
180,187,890
PPG
Industries,
Inc.
1,379,271
156,161,062
Sherwin-Williams
Co.
(The)
470,532
170,459,628
1,004,922,208
Commercial
Services
&
Supplies
—
1.5%
Cintas
Corp.
858,536
178,146,220
Consumer
Staples
Distribution
&
Retail
—
4.2%
Sysco
Corp.
2,266,474
171,209,446
Target
Corp.
1,228,975
152,687,854
Walmart,
Inc.
1,788,353
176,349,489
500,246,789
Containers
&
Packaging
—
1.5%
Amcor
plc(a)
17,363,158
175,715,159
Distributors
—
1.5%
Genuine
Parts
Co.
1,445,568
180,522,532
Electric
Utilities
—
3.0%
Eversource
Energy
3,008,953
189,594,128
NextEra
Energy,
Inc.
2,326,852
163,275,205
352,869,333
Investments
Shares
Value
Common
Stocks
(continued)
Electrical
Equipment
—
1.3%
Emerson
Electric
Co.
1,297,593
$
157,800,285
Food
Products
—
5.7%
Archer-Daniels-Midland
Co.
3,355,076
158,359,587
Hormel
Foods
Corp.
5,487,841
157,116,888
J
M
Smucker
Co.
(The)
1,634,018
180,608,010
McCormick
&
Co.,
Inc.
(Non-Voting)
2,262,851
186,934,121
683,018,606
Gas
Utilities
—
1.6%
Atmos
Energy
Corp.
1,214,720
184,795,354
Health
Care
Equipment
&
Supplies
—
4.3%
Abbott
Laboratories
1,355,061
187,011,969
Becton
Dickinson
&
Co.
696,091
156,989,403
Medtronic
plc
1,878,979
172,903,647
516,905,019
Health
Care
Providers
&
Services
—
1.4%
Cardinal
Health,
Inc.
1,315,415
170,319,934
Hotels,
Restaurants
&
Leisure
—
1.5%
McDonald's
Corp.
593,659
183,042,880
Household
Products
—
7.4%
Church
&
Dwight
Co.,
Inc.
1,594,955
177,358,996
Clorox
Co.
(The)
1,064,004
166,399,586
Colgate-Palmolive
Co.
1,928,358
175,808,399
Kimberly-Clark
Corp.
1,319,715
187,412,727
Procter
&
Gamble
Co.
(The)
1,032,568
179,501,621
886,481,329
Insurance
—
7.7%
Aflac,
Inc.
1,615,022
176,796,458
Brown
&
Brown,
Inc.
1,598,576
189,495,199
Chubb
Ltd.
635,420
181,399,702
Cincinnati
Financial
Corp.
1,234,807
182,516,823
Erie
Indemnity
Co.,
Class
a
A
437,926
187,462,983
917,671,165
IT
Services
—
1.6%
International
Business
Machines
Corp.
753,844
190,300,379
Life
Sciences
Tools
&
Services
—
1.0%
West
Pharmaceutical
Services,
Inc.
491,194
114,124,014
Machinery
—
8.1%
Caterpillar,
Inc.
415,727
142,989,302
Dover
Corp.
852,823
169,515,628
Illinois
Tool
Works,
Inc.
652,030
172,122,879
Nordson
Corp.
777,112
163,418,882
Pentair
plc
1,645,118
154,970,116
Stanley
Black
&
Decker,
Inc.
1,922,241
166,331,514
969,348,321
S&P
500
®
DIVIDEND
ARISTOCRATS
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
108
NOBL
::
Investments
Shares
Value
Common
Stocks
(continued)
Metals
&
Mining
—
1.6%
Nucor
Corp.
1,387,128
$
190,688,486
Multi-Utilities
—
1.6%
Consolidated
Edison,
Inc.
1,870,461
189,889,201
Oil,
Gas
&
Consumable
Fuels
—
2.9%
Chevron
Corp.
1,088,745
172,696,732
Exxon
Mobil
Corp.
1,559,593
173,629,489
346,326,221
Personal
Care
Products
—
1.6%
Kenvue,
Inc.
8,155,181
192,462,272
Pharmaceuticals
—
1.6%
Johnson
&
Johnson
1,154,159
190,459,318
Professional
Services
—
1.5%
Automatic
Data
Processing,
Inc.
570,113
179,688,215
Residential
REITs
—
1.6%
Essex
Property
Trust,
Inc.,
REIT
609,743
189,977,627
Retail
REITs
—
2.9%
Federal
Realty
Investment
Trust,
REIT
1,590,616
167,682,739
Realty
Income
Corp.,
REIT
3,118,586
177,852,959
345,535,698
Software
—
1.6%
Roper
Technologies,
Inc.
318,914
186,405,233
Specialty
Retail
—
1.3%
Lowe's
Cos.,
Inc.
646,321
160,701,253
Trading
Companies
&
Distributors
—
2.7%
Fastenal
Co.
2,243,670
169,913,129
WW
Grainger,
Inc.
151,090
154,294,619
324,207,748
Total
Common
Stocks
(Cost
$10,153,161,961)
11,932,060,163
Securities
Lending
Reinvestments
(b)
—
0
.2
%
Investment
Companies
—
0
.2
%
Invesco
Government
&
Agency
Portfolio,
Institutional
Class
4.29%
(c)
(Cost
$26,185,551)
26,185,551
26,185,551
Investments
Principal
Amount
Value
Short-Term
Investments
—
0
.1
%
Repurchase
Agreements
(d)
—
0
.1
%
Repurchase
Agreements
with
various
counterparties,
rates
4.15%
-
4.36%,
dated
2/28/2025,
due
3/3/2025,
total
to
be
received
$9,529,125
(Cost
$9,525,690)
$
9,525,690
$
9,525,690
Total
Investments
—
100.1%
(Cost
$10,188,873,202)
11,967,771,404
Liabilities
in
excess
of
other
assets
—
(0.1%)
(
7,445,176
)
Net
Assets
—
100.0%
$
11,960,326,228
(a)
The
security
or
a
portion
of
this
security
is
on
loan
at
February
28,
2025.
The
total
value
of
securities
on
loan
at
February
28,
2025
was
$25,237,883,
collateralized
in
the
form
of
cash
with
a
value
of
$26,185,551
that
was
reinvested
in
the
securities
shown
in
the
Securities
Lending
Reinvestment
section
of
the
Schedule
of
Portfolio
Investments.
(b)
The
security
was
purchased
with
cash
collateral
held
from
securities
on
loan
at
February
28,
2025.
The
total
value
of
securities
purchased
was
$26,185,551.
(c)
Rate
shown
is
the
7-day
yield
as
of
February
28,
2025.
(d)
The
Fund
invests
in
Repurchase
Agreements
jointly
with
other
funds
in
the
Trust.
See
"Repurchase
Agreements"
in
the
Notes
to
Schedules
of
Portfolio
Investments
to
view
the
details
of
each
individual
agreement
and
counterparty
as
well
as
a
description
of
the
securities
subject
to
repurchase.
FEBRUARY
28,
2025
(Unaudited)
::
S&P
500
®
EX-ENERGY
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
109
SPXE
::
Investments
Shares
Value
Common
Stocks
—
99
.8
%
Aerospace
&
Defense
—
2.0%
Axon
Enterprise,
Inc.*
94
$
49,674
Boeing
Co.
(The)*
991
173,058
General
Dynamics
Corp.
343
86,642
General
Electric
Co.
1,433
296,602
Howmet
Aerospace,
Inc.
537
73,354
Huntington
Ingalls
Industries,
Inc.
51
8,955
L3Harris
Technologies,
Inc.
250
51,528
Lockheed
Martin
Corp.
278
125,203
Northrop
Grumman
Corp.
180
83,113
RTX
Corp.
1,764
234,594
Textron,
Inc.
245
18,309
TransDigm
Group,
Inc.
73
99,806
1,300,838
Air
Freight
&
Logistics
—
0.4%
CH
Robinson
Worldwide,
Inc.
155
15,751
Expeditors
International
of
Washington,
Inc.
184
21,594
FedEx
Corp.
296
77,819
United
Parcel
Service,
Inc.,
Class
a
B
971
115,578
230,742
Automobile
Components
—
0.0%(a)
Aptiv
plc*
311
20,252
BorgWarner,
Inc.
288
8,574
28,826
Automobiles
—
1.9%
Ford
Motor
Co.
5,172
49,393
General
Motors
Co.
1,455
71,484
Tesla,
Inc.*
3,700
1,084,026
1,204,903
Banks
—
3.7%
Bank
of
America
Corp.
8,847
407,847
Citigroup,
Inc.
2,505
200,275
Citizens
Financial
Group,
Inc.
585
26,776
Fifth
Third
Bancorp
888
38,601
Huntington
Bancshares,
Inc.
1,925
31,705
JPMorgan
Chase
&
Co.
3,731
987,409
KeyCorp
1,313
22,741
M&T
Bank
Corp.
219
41,987
PNC
Financial
Services
Group,
Inc.
(The)
526
100,950
Regions
Financial
Corp.
1,206
28,594
Truist
Financial
Corp.
1,760
81,576
US
Bancorp
2,067
96,942
Wells
Fargo
&
Co.
4,410
345,391
2,410,794
Beverages
—
1.2%
Brown-Forman
Corp.,
Class
a
B
240
7,946
Coca-Cola
Co.
(The)
5,137
365,806
Constellation
Brands,
Inc.,
Class
a
A
207
36,328
Investments
Shares
Value
Common
Stocks
(continued)
Keurig
Dr
Pepper,
Inc.
1,492
$
50,012
Molson
Coors
Beverage
Co.,
Class
a
B
231
14,158
Monster
Beverage
Corp.*
926
50,606
PepsiCo,
Inc.
1,819
279,162
804,018
Biotechnology
—
1.9%
AbbVie,
Inc.
2,344
489,966
Amgen,
Inc.
712
219,339
Biogen,
Inc.*
191
26,836
Gilead
Sciences,
Inc.
1,652
188,840
Incyte
Corp.*
211
15,508
Moderna,
Inc.*
447
13,839
Regeneron
Pharmaceuticals,
Inc.
139
97,125
Vertex
Pharmaceuticals,
Inc.*
342
164,088
1,215,541
Broadline
Retail
—
4.1%
Amazon.com,
Inc.*
12,401
2,632,484
eBay,
Inc.
633
40,981
2,673,465
Building
Products
—
0.5%
A
O
Smith
Corp.
157
10,437
Allegion
plc
115
14,802
Builders
FirstSource,
Inc.*
151
20,988
Carrier
Global
Corp.
1,106
71,669
Johnson
Controls
International
plc
887
75,980
Lennox
International,
Inc.
42
25,244
Masco
Corp.
284
21,351
Trane
Technologies
plc
296
104,695
345,166
Capital
Markets
—
3.4%
Ameriprise
Financial,
Inc.
128
68,774
Bank
of
New
York
Mellon
Corp.
(The)
964
85,748
Blackrock,
Inc.
191
186,756
Blackstone,
Inc.
955
153,908
Cboe
Global
Markets,
Inc.
138
29,090
Charles
Schwab
Corp.
(The)
2,246
178,624
CME
Group,
Inc.
478
121,302
FactSet
Research
Systems,
Inc.
49
22,625
Franklin
Resources,
Inc.
410
8,303
Goldman
Sachs
Group,
Inc.
(The)
416
258,873
Intercontinental
Exchange,
Inc.
762
132,001
Invesco
Ltd.
596
10,364
KKR
&
Co.,
Inc.
894
121,217
MarketAxess
Holdings,
Inc.
49
9,447
Moody's
Corp.
206
103,812
Morgan
Stanley
1,643
218,700
MSCI,
Inc.,
Class
a
A
104
61,413
Nasdaq,
Inc.
547
45,281
Northern
Trust
Corp.
262
28,878
Raymond
James
Financial,
Inc.
241
37,275
S&P
Global,
Inc.
421
224,705
S&P
500
®
EX-ENERGY
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
110
SPXE
::
Investments
Shares
Value
Common
Stocks
(continued)
State
Street
Corp.
388
$
38,501
T.
Rowe
Price
Group,
Inc.
294
31,082
2,176,679
Chemicals
—
1.4%
Air
Products
and
Chemicals,
Inc.
292
92,316
Albemarle
Corp.
155
11,940
Celanese
Corp.,
Class
a
A
144
7,335
CF
Industries
Holdings,
Inc.
230
18,634
Corteva,
Inc.
911
57,375
Dow,
Inc.
926
35,290
DuPont
de
Nemours,
Inc.
552
45,137
Eastman
Chemical
Co.
152
14,873
Ecolab,
Inc.
335
90,118
FMC
Corp.
164
6,052
International
Flavors
&
Fragrances,
Inc.
338
27,652
Linde
plc
631
294,708
LyondellBasell
Industries
NV,
Class
a
A
343
26,353
Mosaic
Co.
(The)
421
10,070
PPG
Industries,
Inc.
309
34,985
Sherwin-Williams
Co.
(The)
307
111,217
884,055
Commercial
Services
&
Supplies
—
0.6%
Cintas
Corp.
454
94,205
Copart,
Inc.*
1,162
63,678
Republic
Services,
Inc.,
Class
a
A
268
63,522
Rollins,
Inc.
372
19,489
Veralto
Corp.
328
32,721
Waste
Management,
Inc.
485
112,898
386,513
Communications
Equipment
—
0.9%
Arista
Networks,
Inc.*
1,369
127,385
Cisco
Systems,
Inc.
5,282
338,629
F5,
Inc.*
75
21,932
Juniper
Networks,
Inc.
439
15,892
Motorola
Solutions,
Inc.
221
97,289
601,127
Construction
&
Engineering
—
0.1%
Quanta
Services,
Inc.
193
50,109
Construction
Materials
—
0.1%
Martin
Marietta
Materials,
Inc.
79
38,168
Vulcan
Materials
Co.
173
42,785
80,953
Consumer
Finance
—
0.6%
American
Express
Co.
737
221,808
Capital
One
Financial
Corp.
506
101,478
Discover
Financial
Services
334
65,193
Synchrony
Financial
515
31,250
419,729
Investments
Shares
Value
Common
Stocks
(continued)
Consumer
Staples
Distribution
&
Retail
—
2.2%
Costco
Wholesale
Corp.
588
$
616,583
Dollar
General
Corp.
289
21,438
Dollar
Tree,
Inc.*
266
19,381
Kroger
Co.
(The)
882
57,171
Sysco
Corp.
649
49,025
Target
Corp.
611
75,910
Walgreens
Boots
Alliance,
Inc.
950
10,146
Walmart,
Inc.
5,752
567,205
1,416,859
Containers
&
Packaging
—
0.2%
Amcor
plc
1,915
19,380
Avery
Dennison
Corp.
106
19,925
Ball
Corp.
396
20,865
International
Paper
Co.
691
38,938
Packaging
Corp.
of
America
118
25,144
Smurfit
WestRock
plc
654
34,054
158,306
Distributors
—
0.1%
Genuine
Parts
Co.
182
22,728
LKQ
Corp.
345
14,556
Pool
Corp.
49
17,003
54,287
Diversified
Telecommunication
Services
—
0.8%
AT&T,
Inc.
9,507
260,587
Verizon
Communications,
Inc.
5,578
240,412
500,999
Electric
Utilities
—
1.6%
Alliant
Energy
Corp.
339
21,876
American
Electric
Power
Co.,
Inc.
705
74,765
Constellation
Energy
Corp.
415
103,976
Duke
Energy
Corp.
1,024
120,310
Edison
International
513
27,928
Entergy
Corp.
568
49,592
Evergy,
Inc.
304
20,949
Eversource
Energy
485
30,560
Exelon
Corp.
1,331
58,830
FirstEnergy
Corp.
680
26,364
NextEra
Energy,
Inc.
2,726
191,283
NRG
Energy,
Inc.
267
28,225
PG&E
Corp.
2,897
47,337
Pinnacle
West
Capital
Corp.
149
13,788
PPL
Corp.
978
34,435
Southern
Co.
(The)
1,451
130,285
Xcel
Energy,
Inc.
763
55,012
1,035,515
Electrical
Equipment
—
0.8%
AMETEK,
Inc.
306
57,926
Eaton
Corp.
plc
524
153,700
Emerson
Electric
Co.
754
91,694
GE
Vernova,
Inc.
368
123,346
Generac
Holdings,
Inc.*
77
10,484
FEBRUARY
28,
2025
(Unaudited)
::
S&P
500
®
EX-ENERGY
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
111
SPXE
::
Investments
Shares
Value
Common
Stocks
(continued)
Hubbell,
Inc.,
Class
a
B
70
$
26,011
Rockwell
Automation,
Inc.
148
42,498
505,659
Electronic
Equipment,
Instruments
&
Components
—
0.6%
Amphenol
Corp.,
Class
a
A
1,598
106,427
CDW
Corp.
175
31,185
Corning,
Inc.
1,020
51,153
Jabil,
Inc.
148
22,928
Keysight
Technologies,
Inc.*
229
36,532
TE
Connectivity
plc
398
61,304
Teledyne
Technologies,
Inc.*
60
30,901
Trimble,
Inc.*
323
23,250
Zebra
Technologies
Corp.,
Class
a
A*
67
21,108
384,788
Entertainment
—
1.5%
Electronic
Arts,
Inc.
316
40,802
Live
Nation
Entertainment,
Inc.*
207
29,675
Netflix,
Inc.*
568
556,958
Take-Two
Interactive
Software,
Inc.*
216
45,788
Walt
Disney
Co.
(The)
2,400
273,120
Warner
Bros
Discovery,
Inc.*
2,957
33,887
980,230
Financial
Services
—
5.0%
Apollo
Global
Management,
Inc.
594
88,666
Berkshire
Hathaway,
Inc.,
Class
a
B*
2,429
1,248,093
Corpay,
Inc.*
90
33,034
Fidelity
National
Information
Services,
Inc.
713
50,709
Fiserv,
Inc.*
753
177,475
Global
Payments,
Inc.
337
35,479
Jack
Henry
&
Associates,
Inc.
95
16,491
Mastercard,
Inc.,
Class
a
A
1,087
626,449
PayPal
Holdings,
Inc.*
1,328
94,354
Visa,
Inc.,
Class
a
A
2,291
830,969
3,201,719
Food
Products
—
0.6%
Archer-Daniels-Midland
Co.
633
29,878
Bunge
Global
SA
183
13,577
Campbell's
Co.
(The)
259
10,375
Conagra
Brands,
Inc.
632
16,141
General
Mills,
Inc.
736
44,616
Hershey
Co.
(The)
194
33,506
Hormel
Foods
Corp.
387
11,080
J
M
Smucker
Co.
(The)
140
15,474
Kellanova
357
29,595
Kraft
Heinz
Co.
(The)
1,171
35,961
Lamb
Weston
Holdings,
Inc.
187
9,700
McCormick
&
Co.,
Inc.
(Non-Voting)
333
27,509
Mondelez
International,
Inc.,
Class
a
A
1,772
113,816
Tyson
Foods,
Inc.,
Class
a
A
379
23,248
414,476
Investments
Shares
Value
Common
Stocks
(continued)
Gas
Utilities
—
0.0%(a)
Atmos
Energy
Corp.
205
$
31,187
Ground
Transportation
—
1.0%
CSX
Corp.
2,555
81,785
JB
Hunt
Transport
Services,
Inc.
105
16,925
Norfolk
Southern
Corp.
297
72,988
Old
Dominion
Freight
Line,
Inc.
248
43,772
Uber
Technologies,
Inc.*
2,792
212,220
Union
Pacific
Corp.
803
198,092
625,782
Health
Care
Equipment
&
Supplies
—
2.5%
Abbott
Laboratories
2,298
317,147
Align
Technology,
Inc.*
91
17,020
Baxter
International,
Inc.
677
23,363
Becton
Dickinson
&
Co.
385
86,829
Boston
Scientific
Corp.*
1,951
202,494
Cooper
Cos.,
Inc.
(The)*
263
23,770
Dexcom,
Inc.*
517
45,687
Edwards
Lifesciences
Corp.*
783
56,078
GE
HealthCare
Technologies,
Inc.
605
52,847
Hologic,
Inc.*
307
19,461
IDEXX
Laboratories,
Inc.*
108
47,208
Insulet
Corp.*
91
24,777
Intuitive
Surgical,
Inc.*
474
271,673
Medtronic
plc
1,701
156,526
ResMed,
Inc.
192
44,836
Solventum
Corp.*
181
14,435
STERIS
plc
130
28,504
Stryker
Corp.
456
176,103
Teleflex,
Inc.
60
7,965
Zimmer
Biomet
Holdings,
Inc.
264
27,540
1,644,263
Health
Care
Providers
&
Services
—
2.2%
Cardinal
Health,
Inc.
321
41,563
Cencora,
Inc.
231
58,568
Centene
Corp.*
671
39,026
Cigna
Group
(The)
371
114,583
CVS
Health
Corp.
1,667
109,555
DaVita,
Inc.*
59
8,725
Elevance
Health,
Inc.
307
121,842
HCA
Healthcare,
Inc.
241
73,818
Henry
Schein,
Inc.*
164
11,836
Humana,
Inc.
158
42,726
Labcorp
Holdings,
Inc.
110
27,615
McKesson
Corp.
167
106,924
Molina
Healthcare,
Inc.*
74
22,283
Quest
Diagnostics,
Inc.
147
25,416
UnitedHealth
Group,
Inc.
1,219
578,976
Universal
Health
Services,
Inc.,
Class
a
B
76
13,319
1,396,775
S&P
500
®
EX-ENERGY
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
112
SPXE
::
Investments
Shares
Value
Common
Stocks
(continued)
Health
Care
REITs
—
0.3%
Alexandria
Real
Estate
Equities,
Inc.,
REIT
206
$
21,066
Healthpeak
Properties,
Inc.,
REIT
925
18,925
Ventas,
Inc.,
REIT
556
38,464
Welltower,
Inc.,
REIT
783
120,198
198,653
Hotel
&
Resort
REITs
—
0.0%(a)
Host
Hotels
&
Resorts,
Inc.,
REIT
925
14,920
Hotels,
Restaurants
&
Leisure
—
2.1%
Airbnb,
Inc.,
Class
a
A*
575
79,850
Booking
Holdings,
Inc.
43
215,688
Caesars
Entertainment,
Inc.*
280
9,302
Carnival
Corp.*
1,377
32,952
Chipotle
Mexican
Grill,
Inc.,
Class
a
A*
1,805
97,416
Darden
Restaurants,
Inc.
154
30,871
Domino's
Pizza,
Inc.
45
22,037
Expedia
Group,
Inc.*
162
32,069
Hilton
Worldwide
Holdings,
Inc.
323
85,582
Las
Vegas
Sands
Corp.
462
20,656
Marriott
International,
Inc.,
Class
a
A
305
85,537
McDonald's
Corp.
948
292,297
MGM
Resorts
International*
298
10,358
Norwegian
Cruise
Line
Holdings
Ltd.*
583
13,246
Royal
Caribbean
Cruises
Ltd.
328
80,721
Starbucks
Corp.
1,503
174,062
Wynn
Resorts
Ltd.
122
10,897
Yum!
Brands,
Inc.
372
58,170
1,351,711
Household
Durables
—
0.3%
DR
Horton,
Inc.
388
49,202
Garmin
Ltd.
203
46,473
Lennar
Corp.,
Class
a
A
306
36,607
Mohawk
Industries,
Inc.*
68
7,996
NVR,
Inc.*
4
28,982
PulteGroup,
Inc.
272
28,092
197,352
Household
Products
—
1.2%
Church
&
Dwight
Co.,
Inc.
325
36,140
Clorox
Co.
(The)
163
25,492
Colgate-Palmolive
Co.
1,083
98,737
Kimberly-Clark
Corp.
442
62,768
Procter
&
Gamble
Co.
(The)
3,121
542,555
765,692
Independent
Power
and
Renewable
Electricity
Producers
—
0.1%
AES
Corp.
(The)
940
10,895
Vistra
Corp.
450
60,147
71,042
Investments
Shares
Value
Common
Stocks
(continued)
Industrial
Conglomerates
—
0.5%
3M
Co.
720
$
111,687
Honeywell
International,
Inc.
862
183,511
295,198
Industrial
REITs
—
0.2%
Prologis,
Inc.,
REIT
1,226
151,926
Insurance
—
2.3%
Aflac,
Inc.
663
72,579
Allstate
Corp.
(The)
352
70,101
American
International
Group,
Inc.
827
68,591
Aon
plc,
Class
a
A
285
116,599
Arch
Capital
Group
Ltd.
497
46,176
Arthur
J
Gallagher
&
Co.
330
111,454
Assurant,
Inc.
67
13,929
Brown
&
Brown,
Inc.
315
37,340
Chubb
Ltd.
497
141,884
Cincinnati
Financial
Corp.
207
30,597
Erie
Indemnity
Co.,
Class
a
A
32
13,698
Everest
Group
Ltd.
56
19,780
Globe
Life,
Inc.
111
14,145
Hartford
Insurance
Group,
Inc.
(The)
385
45,538
Loews
Corp.
238
20,627
Marsh
&
McLennan
Cos.,
Inc.
650
154,596
MetLife,
Inc.
771
66,445
Principal
Financial
Group,
Inc.
277
24,664
Progressive
Corp.
(The)
777
219,114
Prudential
Financial,
Inc.
473
54,442
Travelers
Cos.,
Inc.
(The)
298
77,030
W
R
Berkley
Corp.
399
25,169
Willis
Towers
Watson
plc
133
45,173
1,489,671
Interactive
Media
&
Services
—
6.7%
Alphabet,
Inc.,
Class
a
A
7,746
1,318,989
Alphabet,
Inc.,
Class
a
C
6,305
1,085,847
Match
Group,
Inc.
334
10,591
Meta
Platforms,
Inc.,
Class
a
A
2,888
1,929,762
4,345,189
IT
Services
—
1.2%
Accenture
plc,
Class
a
A
827
288,209
Akamai
Technologies,
Inc.*
197
15,894
Cognizant
Technology
Solutions
Corp.,
Class
a
A
657
54,748
EPAM
Systems,
Inc.*
74
15,254
Gartner,
Inc.*
102
50,829
GoDaddy,
Inc.,
Class
a
A*
184
33,028
International
Business
Machines
Corp.
1,224
308,987
VeriSign,
Inc.*
109
25,929
792,878
Leisure
Products
—
0.0%(a)
Hasbro,
Inc.
172
11,199
FEBRUARY
28,
2025
(Unaudited)
::
S&P
500
®
EX-ENERGY
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
113
SPXE
::
Investments
Shares
Value
Common
Stocks
(continued)
Life
Sciences
Tools
&
Services
—
1.0%
Agilent
Technologies,
Inc.
383
$
48,993
Bio-Techne
Corp.
210
12,968
Charles
River
Laboratories
International,
Inc.*
66
10,911
Danaher
Corp.
850
176,596
IQVIA
Holdings,
Inc.*
228
43,046
Mettler-Toledo
International,
Inc.*
27
34,363
Revvity,
Inc.
160
17,944
Thermo
Fisher
Scientific,
Inc.
507
268,183
Waters
Corp.*
77
29,055
West
Pharmaceutical
Services,
Inc.
94
21,840
663,899
Machinery
—
1.7%
Caterpillar,
Inc.
639
219,784
Cummins,
Inc.
180
66,272
Deere
&
Co.
338
162,507
Dover
Corp.
180
35,779
Fortive
Corp.
460
36,588
IDEX
Corp.
98
19,044
Illinois
Tool
Works,
Inc.
359
94,769
Ingersoll
Rand,
Inc.
533
45,188
Nordson
Corp.
70
14,720
Otis
Worldwide
Corp.
528
52,684
PACCAR,
Inc.
694
74,425
Parker-Hannifin
Corp.
169
112,978
Pentair
plc
218
20,536
Snap-on,
Inc.
68
23,199
Stanley
Black
&
Decker,
Inc.
204
17,652
Westinghouse
Air
Brake
Technologies
Corp.
227
42,077
Xylem,
Inc.
322
42,147
1,080,349
Media
—
0.5%
Charter
Communications,
Inc.,
Class
a
A*
127
46,173
Comcast
Corp.,
Class
a
A
5,059
181,517
Fox
Corp.,
Class
a
A
291
16,762
Fox
Corp.,
Class
a
B
173
9,354
Interpublic
Group
of
Cos.,
Inc.
(The)
494
13,536
News
Corp.,
Class
a
A
503
14,396
News
Corp.,
Class
a
B
147
4,745
Omnicom
Group,
Inc.
257
21,269
Paramount
Global,
Class
a
B
790
8,974
316,726
Metals
&
Mining
—
0.3%
Freeport-McMoRan,
Inc.
1,905
70,313
Newmont
Corp.
1,509
64,646
Nucor
Corp.
312
42,891
Steel
Dynamics,
Inc.
186
25,123
202,973
Investments
Shares
Value
Common
Stocks
(continued)
Multi-Utilities
—
0.7%
Ameren
Corp.
354
$
35,952
CenterPoint
Energy,
Inc.
864
29,704
CMS
Energy
Corp.
396
28,928
Consolidated
Edison,
Inc.
460
46,699
Dominion
Energy,
Inc.
1,112
62,962
DTE
Energy
Co.
273
36,500
NiSource,
Inc.
619
25,261
Public
Service
Enterprise
Group,
Inc.
660
53,559
Sempra
840
60,119
WEC
Energy
Group,
Inc.
419
44,703
424,387
Office
REITs
—
0.0%(a)
BXP,
Inc.,
REIT
191
13,548
Passenger
Airlines
—
0.2%
Delta
Air
Lines,
Inc.
849
51,042
Southwest
Airlines
Co.
795
24,693
United
Airlines
Holdings,
Inc.*
435
40,807
116,542
Personal
Care
Products
—
0.1%
Estee
Lauder
Cos.,
Inc.
(The),
Class
a
A
309
22,220
Kenvue,
Inc.
2,540
59,944
82,164
Pharmaceuticals
—
3.5%
Bristol-Myers
Squibb
Co.
2,689
160,318
Eli
Lilly
&
Co.
1,044
961,138
Johnson
&
Johnson
3,191
526,579
Merck
&
Co.,
Inc.
3,352
309,222
Pfizer,
Inc.
7,508
198,436
Viatris,
Inc.
1,582
14,602
Zoetis,
Inc.,
Class
a
A
598
100,010
2,270,305
Professional
Services
—
0.7%
Automatic
Data
Processing,
Inc.
540
170,197
Broadridge
Financial
Solutions,
Inc.
154
37,148
Dayforce,
Inc.*
209
12,956
Equifax,
Inc.
163
39,967
Jacobs
Solutions,
Inc.
163
20,882
Leidos
Holdings,
Inc.
175
22,745
Paychex,
Inc.
425
64,460
Paycom
Software,
Inc.
63
13,827
Verisk
Analytics,
Inc.,
Class
a
A
185
54,928
437,110
Real
Estate
Management
&
Development
—
0.2%
CBRE
Group,
Inc.,
Class
a
A*
399
56,634
CoStar
Group,
Inc.*
542
41,328
97,962
S&P
500
®
EX-ENERGY
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
114
SPXE
::
Investments
Shares
Value
Common
Stocks
(continued)
Residential
REITs
—
0.3%
AvalonBay
Communities,
Inc.,
REIT
186
$
42,070
Camden
Property
Trust,
REIT
140
17,368
Equity
Residential,
REIT
451
33,451
Essex
Property
Trust,
Inc.,
REIT
83
25,860
Invitation
Homes,
Inc.,
REIT
754
25,644
Mid-America
Apartment
Communities,
Inc.,
REIT
154
25,890
UDR,
Inc.,
REIT
400
18,072
188,355
Retail
REITs
—
0.3%
Federal
Realty
Investment
Trust,
REIT
101
10,647
Kimco
Realty
Corp.,
REIT
892
19,713
Realty
Income
Corp.,
REIT
1,157
65,984
Regency
Centers
Corp.,
REIT
216
16,567
Simon
Property
Group,
Inc.,
REIT
407
75,739
188,650
Semiconductors
&
Semiconductor
Equipment
—
10.9%
Advanced
Micro
Devices,
Inc.*
2,149
214,599
Analog
Devices,
Inc.
659
151,610
Applied
Materials,
Inc.
1,093
172,771
Broadcom,
Inc.
6,188
1,234,073
Enphase
Energy,
Inc.*
177
10,147
First
Solar,
Inc.*
141
19,201
Intel
Corp.
5,716
135,641
KLA
Corp.
176
124,756
Lam
Research
Corp.
1,704
130,765
Microchip
Technology,
Inc.
712
41,908
Micron
Technology,
Inc.
1,469
137,542
Monolithic
Power
Systems,
Inc.
63
38,494
NVIDIA
Corp.
32,498
4,059,650
NXP
Semiconductors
NV
338
72,869
ON
Semiconductor
Corp.*
565
26,583
QUALCOMM,
Inc.
1,472
231,354
Skyworks
Solutions,
Inc.
212
14,132
Teradyne,
Inc.
215
23,620
Texas
Instruments,
Inc.
1,210
237,148
7,076,863
Software
—
10.2%
Adobe,
Inc.*
584
256,119
ANSYS,
Inc.*
115
38,324
Autodesk,
Inc.*
283
77,601
Cadence
Design
Systems,
Inc.*
366
91,683
Crowdstrike
Holdings,
Inc.,
Class
a
A*
308
120,015
Fair
Isaac
Corp.*
32
60,363
Fortinet,
Inc.*
841
90,836
Gen
Digital,
Inc.
719
19,650
Intuit,
Inc.
374
229,576
Microsoft
Corp.
9,853
3,911,542
Oracle
Corp.
2,129
353,542
Palantir
Technologies,
Inc.,
Class
a
A*
2,716
230,643
Investments
Shares
Value
Common
Stocks
(continued)
Palo
Alto
Networks,
Inc.*
867
$
165,103
PTC,
Inc.*
158
25,854
Roper
Technologies,
Inc.
141
82,415
Salesforce,
Inc.
1,267
377,376
ServiceNow,
Inc.*
271
251,965
Synopsys,
Inc.*
203
92,828
Tyler
Technologies,
Inc.*
56
34,072
Workday,
Inc.,
Class
a
A*
280
73,735
6,583,242
Specialized
REITs
—
0.9%
American
Tower
Corp.,
REIT
619
127,279
Crown
Castle,
Inc.,
REIT
576
54,202
Digital
Realty
Trust,
Inc.,
REIT
413
64,560
Equinix,
Inc.,
REIT
127
114,887
Extra
Space
Storage,
Inc.,
REIT
279
42,564
Iron
Mountain,
Inc.,
REIT
390
36,336
Public
Storage,
REIT
208
63,153
SBA
Communications
Corp.,
Class
a
A,
REIT
141
30,724
VICI
Properties,
Inc.,
Class
a
A,
REIT
1,397
45,389
Weyerhaeuser
Co.,
REIT
964
29,016
608,110
Specialty
Retail
—
1.9%
AutoZone,
Inc.*
22
76,846
Best
Buy
Co.,
Inc.
257
23,107
CarMax,
Inc.*
205
17,009
Home
Depot,
Inc.
(The)
1,316
521,926
Lowe's
Cos.,
Inc.
751
186,729
O'Reilly
Automotive,
Inc.*
75
103,023
Ross
Stores,
Inc.
439
61,600
TJX
Cos.,
Inc.
(The)
1,494
186,391
Tractor
Supply
Co.
708
39,188
Ulta
Beauty,
Inc.*
61
22,348
1,238,167
Technology
Hardware,
Storage
&
Peripherals
—
7.8%
Apple,
Inc.
20,028
4,843,571
Dell
Technologies,
Inc.,
Class
a
C
407
41,823
Hewlett
Packard
Enterprise
Co.
1,723
34,133
HP,
Inc.
1,277
39,421
NetApp,
Inc.
270
26,949
Seagate
Technology
Holdings
plc
278
28,331
Super
Micro
Computer,
Inc.*
669
27,737
Western
Digital
Corp.*
458
22,410
5,064,375
Textiles,
Apparel
&
Luxury
Goods
—
0.4%
Deckers
Outdoor
Corp.*
199
27,733
Lululemon
Athletica,
Inc.*
149
54,476
NIKE,
Inc.,
Class
a
B
1,579
125,420
Ralph
Lauren
Corp.,
Class
a
A
52
14,099
Tapestry,
Inc.
308
26,309
248,037
FEBRUARY
28,
2025
(Unaudited)
::
S&P
500
®
EX-ENERGY
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
115
SPXE
::
Investments
Shares
Value
Common
Stocks
(continued)
Tobacco
—
0.7%
Altria
Group,
Inc.
2,244
$
125,327
Philip
Morris
International,
Inc.
2,059
319,722
445,049
Trading
Companies
&
Distributors
—
0.3%
Fastenal
Co.
761
57,631
United
Rentals,
Inc.
85
54,597
WW
Grainger,
Inc.
57
58,209
170,437
Water
Utilities
—
0.1%
American
Water
Works
Co.,
Inc.
257
34,944
Wireless
Telecommunication
Services
—
0.3%
T-Mobile
US,
Inc.
645
173,950
Total
Common
Stocks
(Cost
$47,419,578)
64,575,878
Principal
Amount
Short-Term
Investments
—
0
.1
%
Repurchase
Agreements
(b)
—
0
.1
%
Repurchase
Agreements
with
various
counterparties,
rates
4.15%
-
4.36%,
dated
2/28/2025,
due
3/3/2025,
total
to
be
received
$63,473
(Cost
$63,451)
$
63,451
63,451
Total
Investments
—
99.9%
(Cost
$47,483,029)
64,639,329
Other
assets
less
liabilities
—
0.1%
55,511
Net
Assets
—
100.0%
$
64,694,840
*
Non-income
producing
security.
(a)
Represents
less
than
0.05%
of
net
assets.
(b)
The
Fund
invests
in
Repurchase
Agreements
jointly
with
other
funds
in
the
Trust.
See
"Repurchase
Agreements"
in
the
Notes
to
Schedules
of
Portfolio
Investments
to
view
the
details
of
each
individual
agreement
and
counterparty
as
well
as
a
description
of
the
securities
subject
to
repurchase.
Abbreviations
REIT
Real
Estate
Investment
Trust
S&P
500
®
EX-FINANCIALS
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
116
SPXN
::
Investments
Shares
Value
Common
Stocks
—
99
.8
%
Aerospace
&
Defense
—
2.3%
Axon
Enterprise,
Inc.*
105
$
55,487
Boeing
Co.
(The)*
1,088
189,997
General
Dynamics
Corp.
377
95,230
General
Electric
Co.
1,575
325,994
Howmet
Aerospace,
Inc.
591
80,731
Huntington
Ingalls
Industries,
Inc.
56
9,833
L3Harris
Technologies,
Inc.
274
56,474
Lockheed
Martin
Corp.
308
138,714
Northrop
Grumman
Corp.
199
91,886
RTX
Corp.
1,937
257,602
Textron,
Inc.
269
20,102
TransDigm
Group,
Inc.
80
109,376
1,431,426
Air
Freight
&
Logistics
—
0.4%
CH
Robinson
Worldwide,
Inc.
170
17,276
Expeditors
International
of
Washington,
Inc.
203
23,824
FedEx
Corp.
327
85,968
United
Parcel
Service,
Inc.,
Class
a
B
1,065
126,767
253,835
Automobile
Components
—
0.1%
Aptiv
plc*
344
22,401
BorgWarner,
Inc.
321
9,556
31,957
Automobiles
—
2.2%
Ford
Motor
Co.
5,684
54,282
General
Motors
Co.
1,603
78,755
Tesla,
Inc.*
4,064
1,190,671
1,323,708
Beverages
—
1.4%
Brown-Forman
Corp.,
Class
a
B
266
8,807
Coca-Cola
Co.
(The)
5,644
401,909
Constellation
Brands,
Inc.,
Class
a
A
226
39,663
Keurig
Dr
Pepper,
Inc.
1,641
55,006
Molson
Coors
Beverage
Co.,
Class
a
B
254
15,568
Monster
Beverage
Corp.*
1,021
55,798
PepsiCo,
Inc.
1,998
306,633
883,384
Biotechnology
—
2.2%
AbbVie,
Inc.
2,574
538,043
Amgen,
Inc.
781
240,595
Biogen,
Inc.*
211
29,646
Gilead
Sciences,
Inc.
1,814
207,358
Incyte
Corp.*
233
17,126
Moderna,
Inc.*
494
15,294
Regeneron
Pharmaceuticals,
Inc.
152
106,208
Vertex
Pharmaceuticals,
Inc.*
376
180,401
1,334,671
Investments
Shares
Value
Common
Stocks
(continued)
Broadline
Retail
—
4.8%
Amazon.com,
Inc.*
13,620
$
2,891,253
eBay,
Inc.
697
45,124
2,936,377
Building
Products
—
0.6%
A
O
Smith
Corp.
173
11,501
Allegion
plc
125
16,089
Builders
FirstSource,
Inc.*
165
22,933
Carrier
Global
Corp.
1,216
78,797
Johnson
Controls
International
plc
973
83,347
Lennox
International,
Inc.
46
27,648
Masco
Corp.
314
23,607
Trane
Technologies
plc
328
116,014
379,936
Chemicals
—
1.6%
Air
Products
and
Chemicals,
Inc.
324
102,433
Albemarle
Corp.
169
13,018
Celanese
Corp.,
Class
a
A
159
8,099
CF
Industries
Holdings,
Inc.
253
20,498
Corteva,
Inc.
1,000
62,980
Dow,
Inc.
1,022
38,948
DuPont
de
Nemours,
Inc.
608
49,716
Eastman
Chemical
Co.
167
16,341
Ecolab,
Inc.
368
98,996
FMC
Corp.
181
6,679
International
Flavors
&
Fragrances,
Inc.
373
30,515
Linde
plc
692
323,199
LyondellBasell
Industries
NV,
Class
a
A
379
29,119
Mosaic
Co.
(The)
465
11,123
PPG
Industries,
Inc.
338
38,268
Sherwin-Williams
Co.
(The)
337
122,085
972,017
Commercial
Services
&
Supplies
—
0.7%
Cintas
Corp.
499
103,543
Copart,
Inc.*
1,278
70,034
Republic
Services,
Inc.,
Class
a
A
296
70,158
Rollins,
Inc.
409
21,428
Veralto
Corp.
361
36,013
Waste
Management,
Inc.
531
123,606
424,782
Communications
Equipment
—
1.1%
Arista
Networks,
Inc.*
1,504
139,947
Cisco
Systems,
Inc.
5,803
372,030
F5,
Inc.*
83
24,272
Juniper
Networks,
Inc.
484
17,521
Motorola
Solutions,
Inc.
241
106,093
659,863
Construction
&
Engineering
—
0.1%
Quanta
Services,
Inc.
214
55,561
FEBRUARY
28,
2025
(Unaudited)
::
S&P
500
®
EX-FINANCIALS
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
117
SPXN
::
Investments
Shares
Value
Common
Stocks
(continued)
Construction
Materials
—
0.1%
Martin
Marietta
Materials,
Inc.
87
$
42,033
Vulcan
Materials
Co.
190
46,989
89,022
Consumer
Staples
Distribution
&
Retail
—
2.5%
Costco
Wholesale
Corp.
645
676,353
Dollar
General
Corp.
320
23,738
Dollar
Tree,
Inc.*
295
21,494
Kroger
Co.
(The)
969
62,811
Sysco
Corp.
715
54,011
Target
Corp.
670
83,241
Walgreens
Boots
Alliance,
Inc.
1,047
11,182
Walmart,
Inc.
6,317
622,919
1,555,749
Containers
&
Packaging
—
0.3%
Amcor
plc
2,106
21,313
Avery
Dennison
Corp.
116
21,804
Ball
Corp.
434
22,867
International
Paper
Co.
759
42,770
Packaging
Corp.
of
America
129
27,489
Smurfit
WestRock
plc
720
37,490
173,733
Distributors
—
0.1%
Genuine
Parts
Co.
201
25,101
LKQ
Corp.
381
16,074
Pool
Corp.
54
18,738
59,913
Diversified
Telecommunication
Services
—
0.9%
AT&T,
Inc.
10,445
286,297
Verizon
Communications,
Inc.
6,128
264,117
550,414
Electric
Utilities
—
1.9%
Alliant
Energy
Corp.
374
24,134
American
Electric
Power
Co.,
Inc.
774
82,083
Constellation
Energy
Corp.
456
114,248
Duke
Energy
Corp.
1,125
132,176
Edison
International
565
30,759
Entergy
Corp.
623
54,394
Evergy,
Inc.
335
23,085
Eversource
Energy
534
33,647
Exelon
Corp.
1,463
64,665
FirstEnergy
Corp.
749
29,039
NextEra
Energy,
Inc.
2,994
210,089
NRG
Energy,
Inc.
296
31,290
PG&E
Corp.
3,184
52,027
Pinnacle
West
Capital
Corp.
163
15,084
PPL
Corp.
1,076
37,886
Southern
Co.
(The)
1,594
143,125
Xcel
Energy,
Inc.
838
60,420
1,138,151
Investments
Shares
Value
Common
Stocks
(continued)
Electrical
Equipment
—
0.9%
AMETEK,
Inc.
337
$
63,794
Eaton
Corp.
plc
575
168,659
Emerson
Electric
Co.
831
101,058
GE
Vernova,
Inc.
402
134,742
Generac
Holdings,
Inc.*
85
11,573
Hubbell,
Inc.,
Class
a
B
76
28,241
Rockwell
Automation,
Inc.
162
46,518
554,585
Electronic
Equipment,
Instruments
&
Components
—
0.7%
Amphenol
Corp.,
Class
a
A
1,755
116,883
CDW
Corp.
193
34,393
Corning,
Inc.
1,123
56,318
Jabil,
Inc.
162
25,097
Keysight
Technologies,
Inc.*
250
39,882
TE
Connectivity
plc
435
67,003
Teledyne
Technologies,
Inc.*
66
33,991
Trimble,
Inc.*
357
25,697
Zebra
Technologies
Corp.,
Class
a
A*
73
22,999
422,263
Energy
Equipment
&
Services
—
0.3%
Baker
Hughes
Co.,
Class
a
A
1,441
64,254
Halliburton
Co.
1,280
33,753
Schlumberger
NV
2,057
85,695
183,702
Entertainment
—
1.8%
Electronic
Arts,
Inc.
349
45,063
Live
Nation
Entertainment,
Inc.*
227
32,543
Netflix,
Inc.*
621
608,928
Take-Two
Interactive
Software,
Inc.*
236
50,027
Walt
Disney
Co.
(The)
2,635
299,863
Warner
Bros
Discovery,
Inc.*
3,252
37,268
1,073,692
Food
Products
—
0.7%
Archer-Daniels-Midland
Co.
697
32,898
Bunge
Global
SA
204
15,135
Campbell's
Co.
(The)
285
11,417
Conagra
Brands,
Inc.
696
17,776
General
Mills,
Inc.
808
48,981
Hershey
Co.
(The)
214
36,960
Hormel
Foods
Corp.
425
12,168
J
M
Smucker
Co.
(The)
153
16,911
Kellanova
392
32,497
Kraft
Heinz
Co.
(The)
1,286
39,493
Lamb
Weston
Holdings,
Inc.
209
10,841
McCormick
&
Co.,
Inc.
(Non-Voting)
368
30,400
Mondelez
International,
Inc.,
Class
a
A
1,947
125,056
Tyson
Foods,
Inc.,
Class
a
A
416
25,517
456,050
S&P
500
®
EX-FINANCIALS
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
118
SPXN
::
Investments
Shares
Value
Common
Stocks
(continued)
Gas
Utilities
—
0.1%
Atmos
Energy
Corp.
225
$
34,229
Ground
Transportation
—
1.1%
CSX
Corp.
2,809
89,916
JB
Hunt
Transport
Services,
Inc.
115
18,537
Norfolk
Southern
Corp.
329
80,852
Old
Dominion
Freight
Line,
Inc.
272
48,008
Uber
Technologies,
Inc.*
3,066
233,047
Union
Pacific
Corp.
882
217,580
687,940
Health
Care
Equipment
&
Supplies
—
3.0%
Abbott
Laboratories
2,524
348,337
Align
Technology,
Inc.*
102
19,077
Baxter
International,
Inc.
745
25,710
Becton
Dickinson
&
Co.
421
94,948
Boston
Scientific
Corp.*
2,145
222,630
Cooper
Cos.,
Inc.
(The)*
289
26,120
Dexcom,
Inc.*
569
50,283
Edwards
Lifesciences
Corp.*
860
61,593
GE
HealthCare
Technologies,
Inc.
665
58,088
Hologic,
Inc.*
338
21,426
IDEXX
Laboratories,
Inc.*
118
51,579
Insulet
Corp.*
102
27,772
Intuitive
Surgical,
Inc.*
519
297,465
Medtronic
plc
1,866
171,709
ResMed,
Inc.
212
49,506
Solventum
Corp.*
202
16,109
STERIS
plc
142
31,135
Stryker
Corp.
499
192,709
Teleflex,
Inc.
66
8,761
Zimmer
Biomet
Holdings,
Inc.
288
30,044
1,805,001
Health
Care
Providers
&
Services
—
2.5%
Cardinal
Health,
Inc.
354
45,836
Cencora,
Inc.
253
64,146
Centene
Corp.*
737
42,864
Cigna
Group
(The)
405
125,084
CVS
Health
Corp.
1,833
120,465
DaVita,
Inc.*
64
9,464
Elevance
Health,
Inc.
337
133,748
HCA
Healthcare,
Inc.
264
80,863
Henry
Schein,
Inc.*
181
13,063
Humana,
Inc.
173
46,783
Labcorp
Holdings,
Inc.
121
30,376
McKesson
Corp.
182
116,527
Molina
Healthcare,
Inc.*
81
24,391
Quest
Diagnostics,
Inc.
161
27,837
UnitedHealth
Group,
Inc.
1,340
636,446
Universal
Health
Services,
Inc.,
Class
a
B
83
14,546
1,532,439
Investments
Shares
Value
Common
Stocks
(continued)
Hotels,
Restaurants
&
Leisure
—
2.4%
Airbnb,
Inc.,
Class
a
A*
629
$
87,349
Booking
Holdings,
Inc.
47
235,752
Caesars
Entertainment,
Inc.*
311
10,331
Carnival
Corp.*
1,514
36,230
Chipotle
Mexican
Grill,
Inc.,
Class
a
A*
1,983
107,022
Darden
Restaurants,
Inc.
169
33,878
Domino's
Pizza,
Inc.
49
23,996
Expedia
Group,
Inc.*
177
35,039
Hilton
Worldwide
Holdings,
Inc.
356
94,326
Las
Vegas
Sands
Corp.
507
22,668
Marriott
International,
Inc.,
Class
a
A
336
94,231
McDonald's
Corp.
1,044
321,897
MGM
Resorts
International*
330
11,471
Norwegian
Cruise
Line
Holdings
Ltd.*
643
14,609
Royal
Caribbean
Cruises
Ltd.
361
88,842
Starbucks
Corp.
1,651
191,202
Wynn
Resorts
Ltd.
133
11,880
Yum!
Brands,
Inc.
406
63,486
1,484,209
Household
Durables
—
0.4%
DR
Horton,
Inc.
424
53,767
Garmin
Ltd.
222
50,823
Lennar
Corp.,
Class
a
A
350
41,871
Mohawk
Industries,
Inc.*
74
8,702
NVR,
Inc.*
4
28,982
PulteGroup,
Inc.
298
30,777
214,922
Household
Products
—
1.4%
Church
&
Dwight
Co.,
Inc.
358
39,810
Clorox
Co.
(The)
178
27,837
Colgate-Palmolive
Co.
1,188
108,310
Kimberly-Clark
Corp.
486
69,017
Procter
&
Gamble
Co.
(The)
3,428
595,923
840,897
Independent
Power
and
Renewable
Electricity
Producers
—
0.1%
AES
Corp.
(The)
1,038
12,030
Vistra
Corp.
495
66,162
78,192
Industrial
Conglomerates
—
0.5%
3M
Co.
792
122,855
Honeywell
International,
Inc.
948
201,820
324,675
Interactive
Media
&
Services
—
7.8%
Alphabet,
Inc.,
Class
a
A
8,508
1,448,742
Alphabet,
Inc.,
Class
a
C
6,926
1,192,796
Match
Group,
Inc.
369
11,701
Meta
Platforms,
Inc.,
Class
a
A
3,173
2,120,199
4,773,438
FEBRUARY
28,
2025
(Unaudited)
::
S&P
500
®
EX-FINANCIALS
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
119
SPXN
::
Investments
Shares
Value
Common
Stocks
(continued)
IT
Services
—
1.4%
Accenture
plc,
Class
a
A
908
$
316,438
Akamai
Technologies,
Inc.*
217
17,508
Cognizant
Technology
Solutions
Corp.,
Class
a
A
720
59,998
EPAM
Systems,
Inc.*
81
16,697
Gartner,
Inc.*
112
55,812
GoDaddy,
Inc.,
Class
a
A*
203
36,438
International
Business
Machines
Corp.
1,346
339,784
VeriSign,
Inc.*
119
28,308
870,983
Leisure
Products
—
0.0%(a)
Hasbro,
Inc.
190
12,371
Life
Sciences
Tools
&
Services
—
1.2%
Agilent
Technologies,
Inc.
418
53,470
Bio-Techne
Corp.
232
14,326
Charles
River
Laboratories
International,
Inc.*
73
12,068
Danaher
Corp.
937
194,671
IQVIA
Holdings,
Inc.*
249
47,011
Mettler-Toledo
International,
Inc.*
30
38,182
Revvity,
Inc.
175
19,626
Thermo
Fisher
Scientific,
Inc.
557
294,631
Waters
Corp.*
84
31,696
West
Pharmaceutical
Services,
Inc.
105
24,396
730,077
Machinery
—
1.9%
Caterpillar,
Inc.
702
241,453
Cummins,
Inc.
199
73,268
Deere
&
Co.
371
178,373
Dover
Corp.
199
39,555
Fortive
Corp.
505
40,168
IDEX
Corp.
110
21,376
Illinois
Tool
Works,
Inc.
392
103,480
Ingersoll
Rand,
Inc.
586
49,681
Nordson
Corp.
77
16,192
Otis
Worldwide
Corp.
581
57,972
PACCAR,
Inc.
763
81,824
Parker-Hannifin
Corp.
185
123,675
Pentair
plc
239
22,514
Snap-on,
Inc.
75
25,588
Stanley
Black
&
Decker,
Inc.
225
19,469
Westinghouse
Air
Brake
Technologies
Corp.
248
45,969
Xylem,
Inc.
355
46,466
1,187,023
Media
—
0.6%
Charter
Communications,
Inc.,
Class
a
A*
139
50,536
Comcast
Corp.,
Class
a
A
5,557
199,385
Fox
Corp.,
Class
a
A
322
18,547
Fox
Corp.,
Class
a
B
191
10,327
Investments
Shares
Value
Common
Stocks
(continued)
Interpublic
Group
of
Cos.,
Inc.
(The)
545
$
14,933
News
Corp.,
Class
a
A
554
15,856
News
Corp.,
Class
a
B
163
5,262
Omnicom
Group,
Inc.
283
23,421
Paramount
Global,
Class
a
B
868
9,861
348,128
Metals
&
Mining
—
0.4%
Freeport-McMoRan,
Inc.
2,094
77,290
Newmont
Corp.
1,660
71,114
Nucor
Corp.
344
47,290
Steel
Dynamics,
Inc.
205
27,689
223,383
Multi-Utilities
—
0.8%
Ameren
Corp.
389
39,507
CenterPoint
Energy,
Inc.
952
32,730
CMS
Energy
Corp.
435
31,777
Consolidated
Edison,
Inc.
504
51,166
Dominion
Energy,
Inc.
1,225
69,359
DTE
Energy
Co.
301
40,244
NiSource,
Inc.
681
27,791
Public
Service
Enterprise
Group,
Inc.
724
58,752
Sempra
924
66,131
WEC
Energy
Group,
Inc.
462
49,291
466,748
Oil,
Gas
&
Consumable
Fuels
—
3.6%
APA
Corp.
541
11,199
Chevron
Corp.
2,433
385,922
ConocoPhillips
1,882
186,600
Coterra
Energy,
Inc.
1,074
28,987
Devon
Energy
Corp.
959
34,735
Diamondback
Energy,
Inc.
270
42,919
EOG
Resources,
Inc.
818
103,837
EQT
Corp.
869
41,860
Exxon
Mobil
Corp.
6,396
712,067
Hess
Corp.
403
60,023
Kinder
Morgan,
Inc.
2,816
76,313
Marathon
Petroleum
Corp.
468
70,284
Occidental
Petroleum
Corp.
983
48,010
ONEOK,
Inc.
851
85,432
Phillips
66
601
77,944
Targa
Resources
Corp.
318
64,147
Texas
Pacific
Land
Corp.
27
38,555
Valero
Energy
Corp.
462
60,397
Williams
Cos.,
Inc.
(The)
1,774
103,211
2,232,442
Passenger
Airlines
—
0.2%
Delta
Air
Lines,
Inc.
935
56,212
Southwest
Airlines
Co.
875
27,178
United
Airlines
Holdings,
Inc.*
479
44,935
128,325
S&P
500
®
EX-FINANCIALS
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
120
SPXN
::
Investments
Shares
Value
Common
Stocks
(continued)
Personal
Care
Products
—
0.1%
Estee
Lauder
Cos.,
Inc.
(The),
Class
a
A
342
$
24,593
Kenvue,
Inc.
2,793
65,915
90,508
Pharmaceuticals
—
4.1%
Bristol-Myers
Squibb
Co.
2,952
175,998
Eli
Lilly
&
Co.
1,147
1,055,963
Johnson
&
Johnson
3,505
578,395
Merck
&
Co.,
Inc.
3,682
339,664
Pfizer,
Inc.
8,250
218,048
Viatris,
Inc.
1,739
16,051
Zoetis,
Inc.,
Class
a
A
657
109,877
2,493,996
Professional
Services
—
0.8%
Automatic
Data
Processing,
Inc.
593
186,902
Broadridge
Financial
Solutions,
Inc.
168
40,525
Dayforce,
Inc.*
230
14,258
Equifax,
Inc.
178
43,646
Jacobs
Solutions,
Inc.
178
22,804
Leidos
Holdings,
Inc.
194
25,214
Paychex,
Inc.
467
70,830
Paycom
Software,
Inc.
69
15,143
Verisk
Analytics,
Inc.,
Class
a
A
205
60,866
480,188
Semiconductors
&
Semiconductor
Equipment
—
12.7%
Advanced
Micro
Devices,
Inc.*
2,361
235,770
Analog
Devices,
Inc.
721
165,873
Applied
Materials,
Inc.
1,199
189,526
Broadcom,
Inc.
6,798
1,355,725
Enphase
Energy,
Inc.*
198
11,351
First
Solar,
Inc.*
154
20,972
Intel
Corp.
6,280
149,024
KLA
Corp.
194
137,515
Lam
Research
Corp.
1,872
143,657
Microchip
Technology,
Inc.
783
46,087
Micron
Technology,
Inc.
1,615
151,212
Monolithic
Power
Systems,
Inc.
69
42,160
NVIDIA
Corp.
35,694
4,458,895
NXP
Semiconductors
NV
371
79,984
ON
Semiconductor
Corp.*
620
29,171
QUALCOMM,
Inc.
1,618
254,301
Skyworks
Solutions,
Inc.
232
15,465
Teradyne,
Inc.
235
25,817
Texas
Instruments,
Inc.
1,329
260,471
7,772,976
Software
—
11.8%
Adobe,
Inc.*
641
281,117
ANSYS,
Inc.*
126
41,990
Autodesk,
Inc.*
313
85,828
Cadence
Design
Systems,
Inc.*
400
100,200
Crowdstrike
Holdings,
Inc.,
Class
a
A*
339
132,095
Investments
Shares
Value
Common
Stocks
(continued)
Fair
Isaac
Corp.*
35
$
66,022
Fortinet,
Inc.*
928
100,233
Gen
Digital,
Inc.
790
21,591
Intuit,
Inc.
408
250,447
Microsoft
Corp.
10,823
4,296,623
Oracle
Corp.
2,339
388,414
Palantir
Technologies,
Inc.,
Class
a
A*
2,984
253,401
Palo
Alto
Networks,
Inc.*
954
181,670
PTC,
Inc.*
173
28,308
Roper
Technologies,
Inc.
154
90,013
Salesforce,
Inc.
1,391
414,309
ServiceNow,
Inc.*
300
278,928
Synopsys,
Inc.*
222
101,516
Tyler
Technologies,
Inc.*
61
37,114
Workday,
Inc.,
Class
a
A*
311
81,899
7,231,718
Specialty
Retail
—
2.2%
AutoZone,
Inc.*
24
83,832
Best
Buy
Co.,
Inc.
284
25,534
CarMax,
Inc.*
226
18,751
Home
Depot,
Inc.
(The)
1,446
573,484
Lowe's
Cos.,
Inc.
827
205,625
O'Reilly
Automotive,
Inc.*
82
112,639
Ross
Stores,
Inc.
483
67,775
TJX
Cos.,
Inc.
(The)
1,642
204,856
Tractor
Supply
Co.
779
43,118
Ulta
Beauty,
Inc.*
67
24,546
1,360,160
Technology
Hardware,
Storage
&
Peripherals
—
9.1%
Apple,
Inc.
22,000
5,320,480
Dell
Technologies,
Inc.,
Class
a
C
448
46,037
Hewlett
Packard
Enterprise
Co.
1,891
37,461
HP,
Inc.
1,404
43,341
NetApp,
Inc.
298
29,743
Seagate
Technology
Holdings
plc
309
31,490
Super
Micro
Computer,
Inc.*
736
30,515
Western
Digital
Corp.*
503
24,612
5,563,679
Textiles,
Apparel
&
Luxury
Goods
—
0.4%
Deckers
Outdoor
Corp.*
220
30,659
Lululemon
Athletica,
Inc.*
162
59,229
NIKE,
Inc.,
Class
a
B
1,733
137,652
Ralph
Lauren
Corp.,
Class
a
A
57
15,455
Tapestry,
Inc.
339
28,958
271,953
Tobacco
—
0.8%
Altria
Group,
Inc.
2,467
137,782
Philip
Morris
International,
Inc.
2,262
351,243
489,025
Trading
Companies
&
Distributors
—
0.3%
Fastenal
Co.
836
63,310
United
Rentals,
Inc.
93
59,736
FEBRUARY
28,
2025
(Unaudited)
::
S&P
500
®
EX-FINANCIALS
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
121
SPXN
::
Investments
Shares
Value
Common
Stocks
(continued)
WW
Grainger,
Inc.
63
$
64,336
187,382
Water
Utilities
—
0.1%
American
Water
Works
Co.,
Inc.
282
38,344
Wireless
Telecommunication
Services
—
0.3%
T-Mobile
US,
Inc.
708
190,941
Total
Common
Stocks
(Cost
$45,783,464)
61,091,083
Principal
Amount
Short-Term
Investments
—
0
.1
%
Repurchase
Agreements
(b)
—
0
.1
%
Repurchase
Agreements
with
various
counterparties,
rates
4.15%
-
4.36%,
dated
2/28/2025,
due
3/3/2025,
total
to
be
received
$73,242
(Cost
$73,215)
$
73,215
73,215
Total
Investments
—
99.9%
(Cost
$45,856,679)
61,164,298
Other
assets
less
liabilities
—
0.1%
62,691
Net
Assets
—
100.0%
$
61,226,989
*
Non-income
producing
security.
(a)
Represents
less
than
0.05%
of
net
assets.
(b)
The
Fund
invests
in
Repurchase
Agreements
jointly
with
other
funds
in
the
Trust.
See
"Repurchase
Agreements"
in
the
Notes
to
Schedules
of
Portfolio
Investments
to
view
the
details
of
each
individual
agreement
and
counterparty
as
well
as
a
description
of
the
securities
subject
to
repurchase.
S&P
500
®
EX-HEALTH
CARE
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
122
SPXV
::
Investments
Shares
Value
Common
Stocks
—
99
.6
%
Aerospace
&
Defense
—
2.2%
Axon
Enterprise,
Inc.*
44
$
23,252
Boeing
Co.
(The)*
457
79,806
General
Dynamics
Corp.
158
39,911
General
Electric
Co.
661
136,814
Howmet
Aerospace,
Inc.
248
33,877
Huntington
Ingalls
Industries,
Inc.
23
4,038
L3Harris
Technologies,
Inc.
114
23,496
Lockheed
Martin
Corp.
129
58,098
Northrop
Grumman
Corp.
82
37,863
RTX
Corp.
813
108,121
Textron,
Inc.
113
8,444
TransDigm
Group,
Inc.
33
45,117
598,837
Air
Freight
&
Logistics
—
0.4%
CH
Robinson
Worldwide,
Inc.
71
7,215
Expeditors
International
of
Washington,
Inc.
83
9,741
FedEx
Corp.
137
36,017
United
Parcel
Service,
Inc.,
Class
a
B
446
53,088
106,061
Automobile
Components
—
0.1%
Aptiv
plc*
144
9,377
BorgWarner,
Inc.
134
3,989
13,366
Automobiles
—
2.0%
Ford
Motor
Co.
2,387
22,796
General
Motors
Co.
674
33,113
Tesla,
Inc.*
1,707
500,117
556,026
Banks
—
4.0%
Bank
of
America
Corp.
4,078
187,996
Citigroup,
Inc.
1,156
92,422
Citizens
Financial
Group,
Inc.
269
12,312
Fifth
Third
Bancorp
411
17,866
Huntington
Bancshares,
Inc.
889
14,642
JPMorgan
Chase
&
Co.
1,720
455,198
KeyCorp
607
10,513
M&T
Bank
Corp.
101
19,364
PNC
Financial
Services
Group,
Inc.
(The)
243
46,637
Regions
Financial
Corp.
557
13,206
Truist
Financial
Corp.
812
37,636
US
Bancorp
953
44,696
Wells
Fargo
&
Co.
2,034
159,303
1,111,791
Beverages
—
1.4%
Brown-Forman
Corp.,
Class
a
B
111
3,675
Coca-Cola
Co.
(The)
2,368
168,625
Constellation
Brands,
Inc.,
Class
a
A
95
16,673
Investments
Shares
Value
Common
Stocks
(continued)
Keurig
Dr
Pepper,
Inc.
689
$
23,095
Molson
Coors
Beverage
Co.,
Class
a
B
107
6,558
Monster
Beverage
Corp.*
428
23,390
PepsiCo,
Inc.
839
128,762
370,778
Broadline
Retail
—
4.5%
Amazon.com,
Inc.*
5,716
1,213,392
eBay,
Inc.
294
19,034
1,232,426
Building
Products
—
0.6%
A
O
Smith
Corp.
72
4,786
Allegion
plc
53
6,822
Builders
FirstSource,
Inc.*
69
9,590
Carrier
Global
Corp.
510
33,048
Johnson
Controls
International
plc
410
35,121
Lennox
International,
Inc.
19
11,420
Masco
Corp.
132
9,924
Trane
Technologies
plc
137
48,457
159,168
Capital
Markets
—
3.6%
Ameriprise
Financial,
Inc.
58
31,164
Bank
of
New
York
Mellon
Corp.
(The)
444
39,494
Blackrock,
Inc.
89
87,023
Blackstone,
Inc.
440
70,910
Cboe
Global
Markets,
Inc.
63
13,280
Charles
Schwab
Corp.
(The)
1,028
81,757
CME
Group,
Inc.
220
55,829
FactSet
Research
Systems,
Inc.
22
10,158
Franklin
Resources,
Inc.
189
3,827
Goldman
Sachs
Group,
Inc.
(The)
191
118,857
Intercontinental
Exchange,
Inc.
350
60,631
Invesco
Ltd.
274
4,765
KKR
&
Co.,
Inc.
413
55,999
MarketAxess
Holdings,
Inc.
22
4,241
Moody's
Corp.
95
47,874
Morgan
Stanley
759
101,031
MSCI,
Inc.,
Class
a
A
48
28,345
Nasdaq,
Inc.
254
21,026
Northern
Trust
Corp.
119
13,116
Raymond
James
Financial,
Inc.
110
17,014
S&P
Global,
Inc.
195
104,079
State
Street
Corp.
179
17,762
T.
Rowe
Price
Group,
Inc.
135
14,272
1,002,454
Chemicals
—
1.5%
Air
Products
and
Chemicals,
Inc.
135
42,680
Albemarle
Corp.
70
5,392
Celanese
Corp.,
Class
a
A
67
3,413
CF
Industries
Holdings,
Inc.
106
8,588
Corteva,
Inc.
421
26,515
Dow,
Inc.
428
16,311
FEBRUARY
28,
2025
(Unaudited)
::
S&P
500
®
EX-HEALTH
CARE
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
123
SPXV
::
Investments
Shares
Value
Common
Stocks
(continued)
DuPont
de
Nemours,
Inc.
256
$
20,933
Eastman
Chemical
Co.
69
6,752
Ecolab,
Inc.
155
41,697
FMC
Corp.
76
2,804
International
Flavors
&
Fragrances,
Inc.
158
12,926
Linde
plc
291
135,912
LyondellBasell
Industries
NV,
Class
a
A
160
12,293
Mosaic
Co.
(The)
196
4,688
PPG
Industries,
Inc.
141
15,964
Sherwin-Williams
Co.
(The)
141
51,080
407,948
Commercial
Services
&
Supplies
—
0.6%
Cintas
Corp.
209
43,368
Copart,
Inc.*
535
29,318
Republic
Services,
Inc.,
Class
a
A
122
28,916
Rollins,
Inc.
172
9,011
Veralto
Corp.
152
15,164
Waste
Management,
Inc.
222
51,677
177,454
Communications
Equipment
—
1.0%
Arista
Networks,
Inc.*
632
58,807
Cisco
Systems,
Inc.
2,436
156,172
F5,
Inc.*
34
9,943
Juniper
Networks,
Inc.
204
7,385
Motorola
Solutions,
Inc.
101
44,462
276,769
Construction
&
Engineering
—
0.1%
Quanta
Services,
Inc.
90
23,367
Construction
Materials
—
0.1%
Martin
Marietta
Materials,
Inc.
36
17,393
Vulcan
Materials
Co.
79
19,537
36,930
Consumer
Finance
—
0.7%
American
Express
Co.
340
102,326
Capital
One
Financial
Corp.
232
46,528
Discover
Financial
Services
154
30,059
Synchrony
Financial
239
14,503
193,416
Consumer
Staples
Distribution
&
Retail
—
2.4%
Costco
Wholesale
Corp.
270
283,125
Dollar
General
Corp.
135
10,014
Dollar
Tree,
Inc.*
123
8,962
Kroger
Co.
(The)
406
26,317
Sysco
Corp.
301
22,737
Target
Corp.
282
35,035
Walgreens
Boots
Alliance,
Inc.
438
4,678
Walmart,
Inc.
2,652
261,514
652,382
Containers
&
Packaging
—
0.3%
Amcor
plc
884
8,946
Investments
Shares
Value
Common
Stocks
(continued)
Avery
Dennison
Corp.
49
$
9,211
Ball
Corp.
183
9,642
International
Paper
Co.
320
18,032
Packaging
Corp.
of
America
54
11,507
Smurfit
WestRock
plc
302
15,725
73,063
Distributors
—
0.1%
Genuine
Parts
Co.
83
10,365
LKQ
Corp.
160
6,750
Pool
Corp.
22
7,634
24,749
Diversified
Telecommunication
Services
—
0.8%
AT&T,
Inc.
4,384
120,166
Verizon
Communications,
Inc.
2,573
110,896
231,062
Electric
Utilities
—
1.7%
Alliant
Energy
Corp.
158
10,196
American
Electric
Power
Co.,
Inc.
327
34,678
Constellation
Energy
Corp.
190
47,604
Duke
Energy
Corp.
472
55,455
Edison
International
238
12,957
Entergy
Corp.
262
22,875
Evergy,
Inc.
141
9,716
Eversource
Energy
224
14,114
Exelon
Corp.
615
27,183
FirstEnergy
Corp.
313
12,135
NextEra
Energy,
Inc.
1,256
88,134
NRG
Energy,
Inc.
122
12,897
PG&E
Corp.
1,336
21,830
Pinnacle
West
Capital
Corp.
68
6,293
PPL
Corp.
452
15,915
Southern
Co.
(The)
670
60,159
Xcel
Energy,
Inc.
351
25,307
477,448
Electrical
Equipment
—
0.8%
AMETEK,
Inc.
141
26,692
Eaton
Corp.
plc
242
70,984
Emerson
Electric
Co.
348
42,320
GE
Vernova,
Inc.
168
56,310
Generac
Holdings,
Inc.*
35
4,765
Hubbell,
Inc.,
Class
a
B
31
11,519
Rockwell
Automation,
Inc.
68
19,526
232,116
Electronic
Equipment,
Instruments
&
Components
—
0.6%
Amphenol
Corp.,
Class
a
A
736
49,018
CDW
Corp.
80
14,256
Corning,
Inc.
471
23,621
Jabil,
Inc.
68
10,535
Keysight
Technologies,
Inc.*
105
16,751
TE
Connectivity
plc
182
28,033
Teledyne
Technologies,
Inc.*
27
13,905
Trimble,
Inc.*
149
10,725
S&P
500
®
EX-HEALTH
CARE
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
124
SPXV
::
Investments
Shares
Value
Common
Stocks
(continued)
Zebra
Technologies
Corp.,
Class
a
A*
30
$
9,451
176,295
Energy
Equipment
&
Services
—
0.3%
Baker
Hughes
Co.,
Class
a
A
606
27,022
Halliburton
Co.
539
14,213
Schlumberger
NV
863
35,953
77,188
Entertainment
—
1.6%
Electronic
Arts,
Inc.
145
18,722
Live
Nation
Entertainment,
Inc.*
95
13,619
Netflix,
Inc.*
261
255,926
Take-Two
Interactive
Software,
Inc.*
99
20,986
Walt
Disney
Co.
(The)
1,106
125,863
Warner
Bros
Discovery,
Inc.*
1,365
15,643
450,759
Financial
Services
—
5.4%
Apollo
Global
Management,
Inc.
260
38,810
Berkshire
Hathaway,
Inc.,
Class
a
B*
1,119
574,976
Corpay,
Inc.*
41
15,049
Fidelity
National
Information
Services,
Inc.
330
23,469
Fiserv,
Inc.*
347
81,784
Global
Payments,
Inc.
156
16,424
Jack
Henry
&
Associates,
Inc.
44
7,638
Mastercard,
Inc.,
Class
a
A
502
289,308
PayPal
Holdings,
Inc.*
612
43,483
Visa,
Inc.,
Class
a
A
1,056
383,022
1,473,963
Food
Products
—
0.7%
Archer-Daniels-Midland
Co.
293
13,830
Bunge
Global
SA
84
6,232
Campbell's
Co.
(The)
119
4,767
Conagra
Brands,
Inc.
293
7,483
General
Mills,
Inc.
340
20,611
Hershey
Co.
(The)
90
15,544
Hormel
Foods
Corp.
178
5,096
J
M
Smucker
Co.
(The)
64
7,074
Kellanova
165
13,679
Kraft
Heinz
Co.
(The)
541
16,614
Lamb
Weston
Holdings,
Inc.
88
4,565
McCormick
&
Co.,
Inc.
(Non-Voting)
156
12,887
Mondelez
International,
Inc.,
Class
a
A
818
52,540
Tyson
Foods,
Inc.,
Class
a
A
175
10,734
191,656
Gas
Utilities
—
0.1%
Atmos
Energy
Corp.
94
14,300
Ground
Transportation
—
1.1%
CSX
Corp.
1,178
37,708
Investments
Shares
Value
Common
Stocks
(continued)
JB
Hunt
Transport
Services,
Inc.
48
$
7,737
Norfolk
Southern
Corp.
138
33,914
Old
Dominion
Freight
Line,
Inc.
113
19,944
Uber
Technologies,
Inc.*
1,287
97,825
Union
Pacific
Corp.
371
91,522
288,650
Health
Care
REITs
—
0.3%
Alexandria
Real
Estate
Equities,
Inc.,
REIT
94
9,612
Healthpeak
Properties,
Inc.,
REIT
428
8,757
Ventas,
Inc.,
REIT
257
17,779
Welltower,
Inc.,
REIT
360
55,264
91,412
Hotel
&
Resort
REITs
—
0.0%(a)
Host
Hotels
&
Resorts,
Inc.,
REIT
428
6,904
Hotels,
Restaurants
&
Leisure
—
2.2%
Airbnb,
Inc.,
Class
a
A*
264
36,662
Booking
Holdings,
Inc.
19
95,304
Caesars
Entertainment,
Inc.*
131
4,352
Carnival
Corp.*
636
15,219
Chipotle
Mexican
Grill,
Inc.,
Class
a
A*
833
44,957
Darden
Restaurants,
Inc.
70
14,032
Domino's
Pizza,
Inc.
20
9,794
Expedia
Group,
Inc.*
73
14,451
Hilton
Worldwide
Holdings,
Inc.
148
39,214
Las
Vegas
Sands
Corp.
213
9,523
Marriott
International,
Inc.,
Class
a
A
140
39,263
McDonald's
Corp.
437
134,740
MGM
Resorts
International*
139
4,832
Norwegian
Cruise
Line
Holdings
Ltd.*
269
6,112
Royal
Caribbean
Cruises
Ltd.
152
37,407
Starbucks
Corp.
692
80,141
Wynn
Resorts
Ltd.
56
5,002
Yum!
Brands,
Inc.
170
26,583
617,588
Household
Durables
—
0.3%
DR
Horton,
Inc.
178
22,572
Garmin
Ltd.
93
21,291
Lennar
Corp.,
Class
a
A
145
17,346
Mohawk
Industries,
Inc.*
30
3,528
NVR,
Inc.*
2
14,491
PulteGroup,
Inc.
123
12,703
91,931
Household
Products
—
1.3%
Church
&
Dwight
Co.,
Inc.
149
16,569
Clorox
Co.
(The)
74
11,573
Colgate-Palmolive
Co.
500
45,585
Kimberly-Clark
Corp.
204
28,970
FEBRUARY
28,
2025
(Unaudited)
::
S&P
500
®
EX-HEALTH
CARE
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
125
SPXV
::
Investments
Shares
Value
Common
Stocks
(continued)
Procter
&
Gamble
Co.
(The)
1,440
$
250,329
353,026
Independent
Power
and
Renewable
Electricity
Producers
—
0.1%
AES
Corp.
(The)
435
5,042
Vistra
Corp.
208
27,801
32,843
Industrial
Conglomerates
—
0.5%
3M
Co.
333
51,655
Honeywell
International,
Inc.
396
84,304
135,959
Industrial
REITs
—
0.3%
Prologis,
Inc.,
REIT
566
70,139
Insurance
—
2.5%
Aflac,
Inc.
306
33,498
Allstate
Corp.
(The)
162
32,262
American
International
Group,
Inc.
382
31,683
Aon
plc,
Class
a
A
132
54,004
Arch
Capital
Group
Ltd.
229
21,276
Arthur
J
Gallagher
&
Co.
153
51,674
Assurant,
Inc.
30
6,237
Brown
&
Brown,
Inc.
144
17,070
Chubb
Ltd.
228
65,089
Cincinnati
Financial
Corp.
95
14,042
Erie
Indemnity
Co.,
Class
a
A
15
6,421
Everest
Group
Ltd.
25
8,830
Globe
Life,
Inc.
51
6,499
Hartford
Insurance
Group,
Inc.
(The)
177
20,935
Loews
Corp.
110
9,534
Marsh
&
McLennan
Cos.,
Inc.
300
71,352
MetLife,
Inc.
355
30,594
Principal
Financial
Group,
Inc.
126
11,219
Progressive
Corp.
(The)
357
100,674
Prudential
Financial,
Inc.
217
24,977
Travelers
Cos.,
Inc.
(The)
138
35,672
W
R
Berkley
Corp.
184
11,607
Willis
Towers
Watson
plc
61
20,719
685,868
Interactive
Media
&
Services
—
7.3%
Alphabet,
Inc.,
Class
a
A
3,569
607,729
Alphabet,
Inc.,
Class
a
C
2,907
500,644
Match
Group,
Inc.
155
4,915
Meta
Platforms,
Inc.,
Class
a
A
1,331
889,374
2,002,662
IT
Services
—
1.3%
Accenture
plc,
Class
a
A
381
132,778
Akamai
Technologies,
Inc.*
91
7,342
Cognizant
Technology
Solutions
Corp.,
Class
a
A
303
25,249
EPAM
Systems,
Inc.*
33
6,803
Gartner,
Inc.*
47
23,421
GoDaddy,
Inc.,
Class
a
A*
84
15,078
Investments
Shares
Value
Common
Stocks
(continued)
International
Business
Machines
Corp.
565
$
142,629
VeriSign,
Inc.*
50
11,894
365,194
Leisure
Products
—
0.0%(a)
Hasbro,
Inc.
79
5,144
Machinery
—
1.8%
Caterpillar,
Inc.
295
101,465
Cummins,
Inc.
82
30,191
Deere
&
Co.
156
75,003
Dover
Corp.
82
16,299
Fortive
Corp.
213
16,942
IDEX
Corp.
46
8,939
Illinois
Tool
Works,
Inc.
164
43,293
Ingersoll
Rand,
Inc.
247
20,941
Nordson
Corp.
32
6,729
Otis
Worldwide
Corp.
245
24,446
PACCAR,
Inc.
320
34,317
Parker-Hannifin
Corp.
77
51,475
Pentair
plc
100
9,420
Snap-on,
Inc.
31
10,576
Stanley
Black
&
Decker,
Inc.
94
8,134
Westinghouse
Air
Brake
Technologies
Corp.
104
19,278
Xylem,
Inc.
147
19,241
496,689
Media
—
0.5%
Charter
Communications,
Inc.,
Class
a
A*
58
21,087
Comcast
Corp.,
Class
a
A
2,331
83,636
Fox
Corp.,
Class
a
A
136
7,834
Fox
Corp.,
Class
a
B
80
4,326
Interpublic
Group
of
Cos.,
Inc.
(The)
228
6,247
News
Corp.,
Class
a
A
231
6,611
News
Corp.,
Class
a
B
68
2,195
Omnicom
Group,
Inc.
118
9,766
Paramount
Global,
Class
a
B
362
4,112
145,814
Metals
&
Mining
—
0.3%
Freeport-McMoRan,
Inc.
878
32,407
Newmont
Corp.
696
29,817
Nucor
Corp.
143
19,658
Steel
Dynamics,
Inc.
86
11,616
93,498
Multi-Utilities
—
0.7%
Ameren
Corp.
163
16,554
CenterPoint
Energy,
Inc.
398
13,683
CMS
Energy
Corp.
183
13,368
Consolidated
Edison,
Inc.
212
21,522
Dominion
Energy,
Inc.
514
29,103
DTE
Energy
Co.
124
16,579
NiSource,
Inc.
287
11,712
Public
Service
Enterprise
Group,
Inc.
305
24,751
S&P
500
®
EX-HEALTH
CARE
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
126
SPXV
::
Investments
Shares
Value
Common
Stocks
(continued)
Sempra
387
$
27,698
WEC
Energy
Group,
Inc.
194
20,698
195,668
Office
REITs
—
0.0%(a)
BXP,
Inc.,
REIT
90
6,384
Oil,
Gas
&
Consumable
Fuels
—
3.4%
APA
Corp.
226
4,678
Chevron
Corp.
1,021
161,951
ConocoPhillips
789
78,229
Coterra
Energy,
Inc.
449
12,119
Devon
Energy
Corp.
401
14,524
Diamondback
Energy,
Inc.
113
17,963
EOG
Resources,
Inc.
343
43,540
EQT
Corp.
364
17,534
Exxon
Mobil
Corp.
2,686
299,032
Hess
Corp.
169
25,171
Kinder
Morgan,
Inc.
1,182
32,032
Marathon
Petroleum
Corp.
197
29,586
Occidental
Petroleum
Corp.
414
20,220
ONEOK,
Inc.
359
36,040
Phillips
66
252
32,682
Targa
Resources
Corp.
133
26,829
Texas
Pacific
Land
Corp.
11
15,707
Valero
Energy
Corp.
194
25,362
Williams
Cos.,
Inc.
(The)
745
43,344
936,543
Passenger
Airlines
—
0.2%
Delta
Air
Lines,
Inc.
392
23,567
Southwest
Airlines
Co.
368
11,430
United
Airlines
Holdings,
Inc.*
201
18,856
53,853
Personal
Care
Products
—
0.1%
Estee
Lauder
Cos.,
Inc.
(The),
Class
a
A
143
10,283
Kenvue,
Inc.
1,171
27,636
37,919
Professional
Services
—
0.7%
Automatic
Data
Processing,
Inc.
249
78,480
Broadridge
Financial
Solutions,
Inc.
70
16,885
Dayforce,
Inc.*
97
6,013
Equifax,
Inc.
74
18,145
Jacobs
Solutions,
Inc.
74
9,480
Leidos
Holdings,
Inc.
80
10,398
Paychex,
Inc.
196
29,727
Paycom
Software,
Inc.
28
6,145
Verisk
Analytics,
Inc.,
Class
a
A
86
25,534
200,807
Real
Estate
Management
&
Development
—
0.2%
CBRE
Group,
Inc.,
Class
a
A*
183
25,975
CoStar
Group,
Inc.*
251
19,139
45,114
Investments
Shares
Value
Common
Stocks
(continued)
Residential
REITs
—
0.3%
AvalonBay
Communities,
Inc.,
REIT
87
$
19,678
Camden
Property
Trust,
REIT
64
7,940
Equity
Residential,
REIT
210
15,576
Essex
Property
Trust,
Inc.,
REIT
37
11,528
Invitation
Homes,
Inc.,
REIT
348
11,835
Mid-America
Apartment
Communities,
Inc.,
REIT
70
11,768
UDR,
Inc.,
REIT
184
8,313
86,638
Retail
REITs
—
0.3%
Federal
Realty
Investment
Trust,
REIT
46
4,849
Kimco
Realty
Corp.,
REIT
413
9,127
Realty
Income
Corp.,
REIT
535
30,511
Regency
Centers
Corp.,
REIT
100
7,670
Simon
Property
Group,
Inc.,
REIT
186
34,613
86,770
Semiconductors
&
Semiconductor
Equipment
—
11.8%
Advanced
Micro
Devices,
Inc.*
991
98,961
Analog
Devices,
Inc.
303
69,708
Applied
Materials,
Inc.
505
79,825
Broadcom,
Inc.
2,852
568,774
Enphase
Energy,
Inc.*
82
4,701
First
Solar,
Inc.*
64
8,716
Intel
Corp.
2,635
62,529
KLA
Corp.
80
56,707
Lam
Research
Corp.
785
60,241
Microchip
Technology,
Inc.
329
19,365
Micron
Technology,
Inc.
678
63,481
Monolithic
Power
Systems,
Inc.
28
17,108
NVIDIA
Corp.
14,983
1,871,676
NXP
Semiconductors
NV
156
33,632
ON
Semiconductor
Corp.*
261
12,280
QUALCOMM,
Inc.
679
106,719
Skyworks
Solutions,
Inc.
98
6,533
Teradyne,
Inc.
99
10,876
Texas
Instruments,
Inc.
558
109,363
3,261,195
Software
—
11.0%
Adobe,
Inc.*
268
117,534
ANSYS,
Inc.*
53
17,662
Autodesk,
Inc.*
131
35,921
Cadence
Design
Systems,
Inc.*
168
42,084
Crowdstrike
Holdings,
Inc.,
Class
a
A*
141
54,942
Fair
Isaac
Corp.*
14
26,409
Fortinet,
Inc.*
389
42,016
Gen
Digital,
Inc.
332
9,074
Intuit,
Inc.
171
104,967
Microsoft
Corp.
4,542
1,803,129
Oracle
Corp.
982
163,071
Palantir
Technologies,
Inc.,
Class
a
A*
1,251
106,235
FEBRUARY
28,
2025
(Unaudited)
::
S&P
500
®
EX-HEALTH
CARE
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
127
SPXV
::
Investments
Shares
Value
Common
Stocks
(continued)
Palo
Alto
Networks,
Inc.*
399
$
75,982
PTC,
Inc.*
72
11,781
Roper
Technologies,
Inc.
64
37,408
Salesforce,
Inc.
585
174,242
ServiceNow,
Inc.*
124
115,290
Synopsys,
Inc.*
93
42,527
Tyler
Technologies,
Inc.*
25
15,211
Workday,
Inc.,
Class
a
A*
130
34,234
3,029,719
Specialized
REITs
—
1.0%
American
Tower
Corp.,
REIT
286
58,807
Crown
Castle,
Inc.,
REIT
266
25,031
Digital
Realty
Trust,
Inc.,
REIT
189
29,544
Equinix,
Inc.,
REIT
58
52,468
Extra
Space
Storage,
Inc.,
REIT
129
19,680
Iron
Mountain,
Inc.,
REIT
179
16,677
Public
Storage,
REIT
96
29,148
SBA
Communications
Corp.,
Class
a
A,
REIT
65
14,164
VICI
Properties,
Inc.,
Class
a
A,
REIT
645
20,956
Weyerhaeuser
Co.,
REIT
444
13,364
279,839
Specialty
Retail
—
2.1%
AutoZone,
Inc.*
10
34,930
Best
Buy
Co.,
Inc.
118
10,609
CarMax,
Inc.*
94
7,799
Home
Depot,
Inc.
(The)
607
240,736
Lowe's
Cos.,
Inc.
346
86,029
O'Reilly
Automotive,
Inc.*
34
46,704
Ross
Stores,
Inc.
203
28,485
TJX
Cos.,
Inc.
(The)
689
85,960
Tractor
Supply
Co.
328
18,155
Ulta
Beauty,
Inc.*
27
9,892
569,299
Technology
Hardware,
Storage
&
Peripherals
—
8.5%
Apple,
Inc.
9,233
2,232,909
Dell
Technologies,
Inc.,
Class
a
C
187
19,216
Hewlett
Packard
Enterprise
Co.
793
15,709
HP,
Inc.
591
18,244
NetApp,
Inc.
123
12,277
Seagate
Technology
Holdings
plc
129
13,146
Super
Micro
Computer,
Inc.*
308
12,770
Western
Digital
Corp.*
212
10,373
2,334,644
Textiles,
Apparel
&
Luxury
Goods
—
0.4%
Deckers
Outdoor
Corp.*
92
12,821
Lululemon
Athletica,
Inc.*
68
24,861
NIKE,
Inc.,
Class
a
B
728
57,825
Ralph
Lauren
Corp.,
Class
a
A
23
6,236
Tapestry,
Inc.
142
12,130
113,873
Investments
Shares
Value
Common
Stocks
(continued)
Tobacco
—
0.8%
Altria
Group,
Inc.
1,036
$
57,860
Philip
Morris
International,
Inc.
949
147,361
205,221
Trading
Companies
&
Distributors
—
0.3%
Fastenal
Co.
350
26,506
United
Rentals,
Inc.
38
24,408
WW
Grainger,
Inc.
26
26,551
77,465
Water
Utilities
—
0.1%
American
Water
Works
Co.,
Inc.
117
15,908
Wireless
Telecommunication
Services
—
0.3%
T-Mobile
US,
Inc.
298
80,368
Total
Common
Stocks
(Cost
$20,062,979)
27,442,320
Principal
Amount
Short-Term
Investments
—
0
.3
%
Repurchase
Agreements
(b)
—
0
.3
%
Repurchase
Agreements
with
various
counterparties,
rates
4.15%
-
4.36%,
dated
2/28/2025,
due
3/3/2025,
total
to
be
received
$87,379
(Cost
$87,347)
$
87,347
87,347
Total
Investments
—
99.9%
(Cost
$20,150,326)
27,529,667
Other
assets
less
liabilities
—
0.1%
25,479
Net
Assets
—
100.0%
$
27,555,146
*
Non-income
producing
security.
(a)
Represents
less
than
0.05%
of
net
assets.
(b)
The
Fund
invests
in
Repurchase
Agreements
jointly
with
other
funds
in
the
Trust.
See
"Repurchase
Agreements"
in
the
Notes
to
Schedules
of
Portfolio
Investments
to
view
the
details
of
each
individual
agreement
and
counterparty
as
well
as
a
description
of
the
securities
subject
to
repurchase.
Abbreviations
REIT
Real
Estate
Investment
Trust
S&P
500
®
EX-TECHNOLOGY
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
128
SPXT
::
Investments
Shares
Value
Common
Stocks
—
99
.8
%
Aerospace
&
Defense
—
2.8%
Axon
Enterprise,
Inc.*
427
$
225,648
Boeing
Co.
(The)*
4,316
753,703
General
Dynamics
Corp.
1,489
376,122
General
Electric
Co.
6,238
1,291,141
Howmet
Aerospace,
Inc.
2,344
320,191
Huntington
Ingalls
Industries,
Inc.
226
39,681
L3Harris
Technologies,
Inc.
1,096
225,897
Lockheed
Martin
Corp.
1,214
546,749
Northrop
Grumman
Corp.
787
363,389
RTX
Corp.
7,680
1,021,363
Textron,
Inc.
1,071
80,036
TransDigm
Group,
Inc.
330
451,176
5,695,096
Air
Freight
&
Logistics
—
0.5%
CH
Robinson
Worldwide,
Inc.
684
69,508
Expeditors
International
of
Washington,
Inc.
805
94,475
FedEx
Corp.
1,297
340,981
United
Parcel
Service,
Inc.,
Class
a
B
4,219
502,188
1,007,152
Automobile
Components
—
0.1%
Aptiv
plc*
1,360
88,563
BorgWarner,
Inc.
1,262
37,570
126,133
Automobiles
—
2.6%
Ford
Motor
Co.
22,522
215,085
General
Motors
Co.
6,343
311,631
Tesla,
Inc.*
16,111
4,720,201
5,246,917
Banks
—
5.2%
Bank
of
America
Corp.
38,508
1,775,219
Citigroup,
Inc.
10,906
871,935
Citizens
Financial
Group,
Inc.
2,543
116,393
Fifth
Third
Bancorp
3,871
168,272
Huntington
Bancshares,
Inc.
8,378
137,986
JPMorgan
Chase
&
Co.
16,238
4,297,387
KeyCorp
5,720
99,070
M&T
Bank
Corp.
953
182,709
PNC
Financial
Services
Group,
Inc.
(The)
2,287
438,921
Regions
Financial
Corp.
5,242
124,288
Truist
Financial
Corp.
7,660
355,041
US
Bancorp
8,995
421,865
Wells
Fargo
&
Co.
19,205
1,504,136
10,493,222
Beverages
—
1.7%
Brown-Forman
Corp.,
Class
a
B
1,051
34,799
Coca-Cola
Co.
(The)
22,362
1,592,398
Constellation
Brands,
Inc.,
Class
a
A
903
158,476
Investments
Shares
Value
Common
Stocks
(continued)
Keurig
Dr
Pepper,
Inc.
6,493
$
217,645
Molson
Coors
Beverage
Co.,
Class
a
B
1,006
61,658
Monster
Beverage
Corp.*
4,041
220,841
PepsiCo,
Inc.
7,918
1,215,175
3,500,992
Biotechnology
—
2.6%
AbbVie,
Inc.
10,195
2,131,061
Amgen,
Inc.
3,098
954,370
Biogen,
Inc.*
841
118,160
Gilead
Sciences,
Inc.
7,189
821,775
Incyte
Corp.*
926
68,061
Moderna,
Inc.*
1,957
60,589
Regeneron
Pharmaceuticals,
Inc.
615
429,725
Vertex
Pharmaceuticals,
Inc.*
1,486
712,968
5,296,709
Broadline
Retail
—
5.8%
Amazon.com,
Inc.*
53,985
11,459,936
eBay,
Inc.
2,764
178,941
11,638,877
Building
Products
—
0.8%
A
O
Smith
Corp.
689
45,805
Allegion
plc
505
64,998
Builders
FirstSource,
Inc.*
665
92,428
Carrier
Global
Corp.
4,811
311,753
Johnson
Controls
International
plc
3,855
330,219
Lennox
International,
Inc.
192
115,402
Masco
Corp.
1,243
93,449
Trane
Technologies
plc
1,299
459,456
1,513,510
Capital
Markets
—
4.7%
Ameriprise
Financial,
Inc.
565
303,575
Bank
of
New
York
Mellon
Corp.
(The)
4,193
372,967
Blackrock,
Inc.
840
821,335
Blackstone,
Inc.
4,162
670,748
Cboe
Global
Markets,
Inc.
611
128,799
Charles
Schwab
Corp.
(The)
9,442
750,922
CME
Group,
Inc.
2,077
527,080
FactSet
Research
Systems,
Inc.
219
101,121
Franklin
Resources,
Inc.
1,787
36,187
Goldman
Sachs
Group,
Inc.
(The)
1,806
1,123,856
Intercontinental
Exchange,
Inc.
3,309
573,218
Invesco
Ltd.
2,596
45,145
KKR
&
Co.,
Inc.
3,897
528,394
MarketAxess
Holdings,
Inc.
217
41,835
Moody's
Corp.
901
454,050
Morgan
Stanley
7,154
952,269
MSCI,
Inc.,
Class
a
A
453
267,501
Nasdaq,
Inc.
2,390
197,844
Northern
Trust
Corp.
1,147
126,422
Raymond
James
Financial,
Inc.
1,055
163,177
S&P
Global,
Inc.
1,828
975,677
FEBRUARY
28,
2025
(Unaudited)
::
S&P
500
®
EX-TECHNOLOGY
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
129
SPXT
::
Investments
Shares
Value
Common
Stocks
(continued)
State
Street
Corp.
1,691
$
167,798
T.
Rowe
Price
Group,
Inc.
1,282
135,533
9,465,453
Chemicals
—
1.9%
Air
Products
and
Chemicals,
Inc.
1,283
405,620
Albemarle
Corp.
680
52,380
Celanese
Corp.,
Class
a
A
639
32,551
CF
Industries
Holdings,
Inc.
1,002
81,182
Corteva,
Inc.
3,963
249,590
Dow,
Inc.
4,040
153,964
DuPont
de
Nemours,
Inc.
2,415
197,475
Eastman
Chemical
Co.
670
65,559
Ecolab,
Inc.
1,453
390,872
FMC
Corp.
724
26,716
International
Flavors
&
Fragrances,
Inc.
1,475
120,670
Linde
plc
2,746
1,282,519
LyondellBasell
Industries
NV,
Class
a
A
1,500
115,245
Mosaic
Co.
(The)
1,830
43,774
PPG
Industries,
Inc.
1,341
151,828
Sherwin-Williams
Co.
(The)
1,339
485,079
3,855,024
Commercial
Services
&
Supplies
—
0.8%
Cintas
Corp.
1,981
411,058
Copart,
Inc.*
5,057
277,124
Republic
Services,
Inc.,
Class
a
A
1,170
277,313
Rollins,
Inc.
1,617
84,715
Veralto
Corp.
1,425
142,158
Waste
Management,
Inc.
2,107
490,467
1,682,835
Construction
&
Engineering
—
0.1%
Quanta
Services,
Inc.
852
221,205
Construction
Materials
—
0.2%
Martin
Marietta
Materials,
Inc.
359
173,447
Vulcan
Materials
Co.
758
187,461
360,908
Consumer
Finance
—
0.9%
American
Express
Co.
3,212
966,683
Capital
One
Financial
Corp.
2,204
442,012
Discover
Financial
Services
1,447
282,440
Synchrony
Financial
2,242
136,045
1,827,180
Consumer
Staples
Distribution
&
Retail
—
3.1%
Costco
Wholesale
Corp.
2,557
2,681,296
Dollar
General
Corp.
1,268
94,060
Dollar
Tree,
Inc.*
1,161
84,590
Kroger
Co.
(The)
3,841
248,974
Sysco
Corp.
2,837
214,307
Target
Corp.
2,654
329,733
Walgreens
Boots
Alliance,
Inc.
4,137
44,183
Investments
Shares
Value
Common
Stocks
(continued)
Walmart,
Inc.
25,043
$
2,469,490
6,166,633
Containers
&
Packaging
—
0.3%
Amcor
plc
8,343
84,431
Avery
Dennison
Corp.
465
87,406
Ball
Corp.
1,724
90,838
International
Paper
Co.
3,030
170,740
Packaging
Corp.
of
America
518
110,381
Smurfit
WestRock
plc
2,855
148,660
692,456
Distributors
—
0.1%
Genuine
Parts
Co.
800
99,904
LKQ
Corp.
1,501
63,327
Pool
Corp.
219
75,993
239,224
Diversified
Telecommunication
Services
—
1.1%
AT&T,
Inc.
41,389
1,134,473
Verizon
Communications,
Inc.
24,282
1,046,554
2,181,027
Electric
Utilities
—
2.2%
Alliant
Energy
Corp.
1,480
95,504
American
Electric
Power
Co.,
Inc.
3,068
325,361
Constellation
Energy
Corp.
1,800
450,981
Duke
Energy
Corp.
4,456
523,536
Edison
International
2,230
121,401
Entergy
Corp.
2,471
215,743
Evergy,
Inc.
1,330
91,650
Eversource
Energy
2,114
133,203
Exelon
Corp.
5,800
256,360
FirstEnergy
Corp.
2,959
114,720
NextEra
Energy,
Inc.
11,863
832,427
NRG
Energy,
Inc.
1,164
123,047
PG&E
Corp.
12,608
206,015
Pinnacle
West
Capital
Corp.
657
60,799
PPL
Corp.
4,259
149,959
Southern
Co.
(The)
6,320
567,473
Xcel
Energy,
Inc.
3,309
238,579
4,506,758
Electrical
Equipment
—
1.1%
AMETEK,
Inc.
1,337
253,094
Eaton
Corp.
plc
2,277
667,890
Emerson
Electric
Co.
3,285
399,489
GE
Vernova,
Inc.
1,586
531,596
Generac
Holdings,
Inc.*
349
47,516
Hubbell,
Inc.,
Class
a
B
314
116,679
Rockwell
Automation,
Inc.
652
187,222
2,203,486
Energy
Equipment
&
Services
—
0.4%
Baker
Hughes
Co.,
Class
a
A
5,708
254,520
Halliburton
Co.
5,068
133,643
Schlumberger
NV
8,141
339,154
727,317
S&P
500
®
EX-TECHNOLOGY
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
130
SPXT
::
Investments
Shares
Value
Common
Stocks
(continued)
Entertainment
—
2.1%
Electronic
Arts,
Inc.
1,373
$
177,282
Live
Nation
Entertainment,
Inc.*
907
130,028
Netflix,
Inc.*
2,463
2,415,119
Take-Two
Interactive
Software,
Inc.*
947
200,745
Walt
Disney
Co.
(The)
10,449
1,189,096
Warner
Bros
Discovery,
Inc.*
12,877
147,570
4,259,840
Financial
Services
—
6.9%
Apollo
Global
Management,
Inc.
2,688
401,238
Berkshire
Hathaway,
Inc.,
Class
a
B*
10,574
5,433,238
Corpay,
Inc.*
410
150,491
Fidelity
National
Information
Services,
Inc.
3,103
220,685
Fiserv,
Inc.*
3,277
772,356
Global
Payments,
Inc.
1,468
154,551
Jack
Henry
&
Associates,
Inc.
430
74,644
Mastercard,
Inc.,
Class
a
A
4,732
2,727,099
PayPal
Holdings,
Inc.*
5,786
411,095
Visa,
Inc.,
Class
a
A
9,970
3,616,219
13,961,616
Food
Products
—
0.9%
Archer-Daniels-Midland
Co.
2,759
130,225
Bunge
Global
SA
804
59,649
Campbell's
Co.
(The)
1,137
45,548
Conagra
Brands,
Inc.
2,754
70,337
General
Mills,
Inc.
3,204
194,226
Hershey
Co.
(The)
853
147,322
Hormel
Foods
Corp.
1,677
48,012
J
M
Smucker
Co.
(The)
622
68,750
Kellanova
1,554
128,827
Kraft
Heinz
Co.
(The)
5,093
156,406
Lamb
Weston
Holdings,
Inc.
822
42,637
McCormick
&
Co.,
Inc.
(Non-Voting)
1,454
120,115
Mondelez
International,
Inc.,
Class
a
A
7,718
495,727
Tyson
Foods,
Inc.,
Class
a
A
1,647
101,027
1,808,808
Gas
Utilities
—
0.1%
Atmos
Energy
Corp.
898
136,613
Ground
Transportation
—
1.4%
CSX
Corp.
11,122
356,015
JB
Hunt
Transport
Services,
Inc.
461
74,309
Norfolk
Southern
Corp.
1,306
320,950
Old
Dominion
Freight
Line,
Inc.
1,085
191,502
Uber
Technologies,
Inc.*
12,151
923,598
Union
Pacific
Corp.
3,492
861,441
2,727,815
Health
Care
Equipment
&
Supplies
—
3.5%
Abbott
Laboratories
10,008
1,381,204
Investments
Shares
Value
Common
Stocks
(continued)
Align
Technology,
Inc.*
413
$
77,243
Baxter
International,
Inc.
2,945
101,632
Becton
Dickinson
&
Co.
1,666
375,733
Boston
Scientific
Corp.*
8,504
882,630
Cooper
Cos.,
Inc.
(The)*
1,153
104,208
Dexcom,
Inc.*
2,250
198,832
Edwards
Lifesciences
Corp.*
3,403
243,723
GE
HealthCare
Technologies,
Inc.
2,640
230,604
Hologic,
Inc.*
1,343
85,133
IDEXX
Laboratories,
Inc.*
475
207,627
Insulet
Corp.*
413
112,448
Intuitive
Surgical,
Inc.*
2,052
1,176,104
Medtronic
plc
7,398
680,764
ResMed,
Inc.
847
197,791
Solventum
Corp.*
796
63,481
STERIS
plc
576
126,294
Stryker
Corp.
1,983
765,815
Teleflex,
Inc.
271
35,975
Zimmer
Biomet
Holdings,
Inc.
1,152
120,177
7,167,418
Health
Care
Providers
&
Services
—
3.0%
Cardinal
Health,
Inc.
1,393
180,366
Cencora,
Inc.
1,010
256,075
Centene
Corp.*
2,911
169,304
Cigna
Group
(The)
1,601
494,469
CVS
Health
Corp.
7,262
477,259
DaVita,
Inc.*
262
38,744
Elevance
Health,
Inc.
1,340
531,819
HCA
Healthcare,
Inc.
1,052
322,227
Henry
Schein,
Inc.*
722
52,107
Humana,
Inc.
697
188,483
Labcorp
Holdings,
Inc.
485
121,754
McKesson
Corp.
736
471,231
Molina
Healthcare,
Inc.*
335
100,875
Quest
Diagnostics,
Inc.
644
111,348
UnitedHealth
Group,
Inc.
5,310
2,522,038
Universal
Health
Services,
Inc.,
Class
a
B
344
60,286
6,098,385
Health
Care
REITs
—
0.4%
Alexandria
Real
Estate
Equities,
Inc.,
REIT
900
92,034
Healthpeak
Properties,
Inc.,
REIT
4,037
82,597
Ventas,
Inc.,
REIT
2,424
167,692
Welltower,
Inc.,
REIT
3,413
523,930
866,253
Hotel
&
Resort
REITs
—
0.0%(a)
Host
Hotels
&
Resorts,
Inc.,
REIT
4,033
65,052
Hotels,
Restaurants
&
Leisure
—
2.9%
Airbnb,
Inc.,
Class
a
A*
2,496
346,620
Booking
Holdings,
Inc.
199
998,186
Caesars
Entertainment,
Inc.*
1,225
40,694
Carnival
Corp.*
5,996
143,484
FEBRUARY
28,
2025
(Unaudited)
::
S&P
500
®
EX-TECHNOLOGY
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
131
SPXT
::
Investments
Shares
Value
Common
Stocks
(continued)
Chipotle
Mexican
Grill,
Inc.,
Class
a
A*
7,862
$
424,312
Darden
Restaurants,
Inc.
679
136,112
Domino's
Pizza,
Inc.
207
101,370
Expedia
Group,
Inc.*
711
140,750
Hilton
Worldwide
Holdings,
Inc.
1,403
371,739
Las
Vegas
Sands
Corp.
2,012
89,957
Marriott
International,
Inc.,
Class
a
A
1,333
373,840
McDonald's
Corp.
4,130
1,273,403
MGM
Resorts
International*
1,307
45,431
Norwegian
Cruise
Line
Holdings
Ltd.*
2,538
57,663
Royal
Caribbean
Cruises
Ltd.
1,425
350,693
Starbucks
Corp.
6,538
757,166
Wynn
Resorts
Ltd.
538
48,054
Yum!
Brands,
Inc.
1,606
251,130
5,950,604
Household
Durables
—
0.4%
DR
Horton,
Inc.
1,682
213,294
Garmin
Ltd.
888
203,290
Lennar
Corp.,
Class
a
A
1,374
164,372
Mohawk
Industries,
Inc.*
307
36,100
NVR,
Inc.*
18
130,421
PulteGroup,
Inc.
1,179
121,767
869,244
Household
Products
—
1.7%
Church
&
Dwight
Co.,
Inc.
1,411
156,903
Clorox
Co.
(The)
717
112,132
Colgate-Palmolive
Co.
4,716
429,958
Kimberly-Clark
Corp.
1,925
273,369
Procter
&
Gamble
Co.
(The)
13,587
2,361,964
3,334,326
Independent
Power
and
Renewable
Electricity
Producers
—
0.2%
AES
Corp.
(The)
4,106
47,588
Vistra
Corp.
1,965
262,642
310,230
Industrial
Conglomerates
—
0.6%
3M
Co.
3,140
487,077
Honeywell
International,
Inc.
3,749
798,124
1,285,201
Industrial
REITs
—
0.3%
Prologis,
Inc.,
REIT
5,345
662,352
Insurance
—
3.2%
Aflac,
Inc.
2,880
315,274
Allstate
Corp.
(The)
1,530
304,699
American
International
Group,
Inc.
3,599
298,501
Aon
plc,
Class
a
A
1,246
509,764
Arch
Capital
Group
Ltd.
2,163
200,964
Arthur
J
Gallagher
&
Co.
1,440
486,346
Assurant,
Inc.
300
62,367
Brown
&
Brown,
Inc.
1,374
162,874
Investments
Shares
Value
Common
Stocks
(continued)
Chubb
Ltd.
2,164
$
617,779
Cincinnati
Financial
Corp.
904
133,620
Erie
Indemnity
Co.,
Class
a
A
150
64,211
Everest
Group
Ltd.
249
87,952
Globe
Life,
Inc.
487
62,058
Hartford
Insurance
Group,
Inc.
(The)
1,671
197,646
Loews
Corp.
1,042
90,310
Marsh
&
McLennan
Cos.,
Inc.
2,836
674,514
MetLife,
Inc.
3,354
289,048
Principal
Financial
Group,
Inc.
1,211
107,827
Progressive
Corp.
(The)
3,379
952,878
Prudential
Financial,
Inc.
2,051
236,070
Travelers
Cos.,
Inc.
(The)
1,311
338,880
W
R
Berkley
Corp.
1,738
109,633
Willis
Towers
Watson
plc
588
199,714
6,502,929
Interactive
Media
&
Services
—
9.4%
Alphabet,
Inc.,
Class
a
A
33,709
5,739,969
Alphabet,
Inc.,
Class
a
C
27,452
4,727,783
Match
Group,
Inc.
1,447
45,884
Meta
Platforms,
Inc.,
Class
a
A
12,579
8,405,288
18,918,924
Leisure
Products
—
0.0%(a)
Hasbro,
Inc.
753
49,028
Life
Sciences
Tools
&
Services
—
1.4%
Agilent
Technologies,
Inc.
1,656
211,835
Bio-Techne
Corp.
920
56,810
Charles
River
Laboratories
International,
Inc.*
299
49,428
Danaher
Corp.
3,704
769,543
IQVIA
Holdings,
Inc.*
992
187,290
Mettler-Toledo
International,
Inc.*
127
161,635
Revvity,
Inc.
705
79,066
Thermo
Fisher
Scientific,
Inc.
2,210
1,169,002
Waters
Corp.*
348
131,314
West
Pharmaceutical
Services,
Inc.
427
99,209
2,915,132
Machinery
—
2.3%
Caterpillar,
Inc.
2,786
958,245
Cummins,
Inc.
789
290,494
Deere
&
Co.
1,467
705,319
Dover
Corp.
789
156,830
Fortive
Corp.
2,006
159,557
IDEX
Corp.
438
85,117
Illinois
Tool
Works,
Inc.
1,553
409,961
Ingersoll
Rand,
Inc.
2,324
197,029
Nordson
Corp.
318
66,872
Otis
Worldwide
Corp.
2,303
229,793
PACCAR,
Inc.
3,027
324,616
Parker-Hannifin
Corp.
738
493,360
Pentair
plc
949
89,396
Snap-on,
Inc.
307
104,739
Stanley
Black
&
Decker,
Inc.
891
77,098
S&P
500
®
EX-TECHNOLOGY
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
132
SPXT
::
Investments
Shares
Value
Common
Stocks
(continued)
Westinghouse
Air
Brake
Technologies
Corp.
989
$
183,321
Xylem,
Inc.
1,398
182,984
4,714,731
Media
—
0.7%
Charter
Communications,
Inc.,
Class
a
A*
563
204,690
Comcast
Corp.,
Class
a
A
22,021
790,114
Fox
Corp.,
Class
a
A
1,277
73,555
Fox
Corp.,
Class
a
B
758
40,985
Interpublic
Group
of
Cos.,
Inc.
(The)
2,150
58,910
News
Corp.,
Class
a
A
2,190
62,678
News
Corp.,
Class
a
B
647
20,885
Omnicom
Group,
Inc.
1,128
93,353
Paramount
Global,
Class
a
B
3,436
39,033
1,384,203
Metals
&
Mining
—
0.4%
Freeport-McMoRan,
Inc.
8,291
306,021
Newmont
Corp.
6,568
281,373
Nucor
Corp.
1,359
186,822
Steel
Dynamics,
Inc.
816
110,217
884,433
Multi-Utilities
—
0.9%
Ameren
Corp.
1,543
156,707
CenterPoint
Energy,
Inc.
3,758
129,200
CMS
Energy
Corp.
1,725
126,011
Consolidated
Edison,
Inc.
2,003
203,345
Dominion
Energy,
Inc.
4,845
274,324
DTE
Energy
Co.
1,191
159,237
NiSource,
Inc.
2,691
109,820
Public
Service
Enterprise
Group,
Inc.
2,870
232,900
Sempra
3,656
261,660
WEC
Energy
Group,
Inc.
1,821
194,282
1,847,486
Office
REITs
—
0.0%(a)
BXP,
Inc.,
REIT
839
59,510
Oil,
Gas
&
Consumable
Fuels
—
4.4%
APA
Corp.
2,136
44,215
Chevron
Corp.
9,637
1,528,621
ConocoPhillips
7,464
740,056
Coterra
Energy,
Inc.
4,251
114,734
Devon
Energy
Corp.
3,789
137,237
Diamondback
Energy,
Inc.
1,079
171,518
EOG
Resources,
Inc.
3,247
412,174
EQT
Corp.
3,445
165,946
Exxon
Mobil
Corp.
25,352
2,822,438
Hess
Corp.
1,590
236,815
Kinder
Morgan,
Inc.
11,148
302,111
Marathon
Petroleum
Corp.
1,851
277,983
Occidental
Petroleum
Corp.
3,902
190,574
ONEOK,
Inc.
3,579
359,296
Phillips
66
2,384
309,181
Targa
Resources
Corp.
1,257
253,562
Investments
Shares
Value
Common
Stocks
(continued)
Texas
Pacific
Land
Corp.
113
$
161,358
Valero
Energy
Corp.
1,823
238,321
Williams
Cos.,
Inc.
(The)
7,034
409,238
8,875,378
Passenger
Airlines
—
0.3%
Delta
Air
Lines,
Inc.
3,703
222,624
Southwest
Airlines
Co.
3,463
107,561
United
Airlines
Holdings,
Inc.*
1,897
177,958
508,143
Personal
Care
Products
—
0.2%
Estee
Lauder
Cos.,
Inc.
(The),
Class
a
A
1,350
97,079
Kenvue,
Inc.
11,064
261,110
358,189
Pharmaceuticals
—
4.9%
Bristol-Myers
Squibb
Co.
11,703
697,733
Eli
Lilly
&
Co.
4,549
4,187,946
Johnson
&
Johnson
13,885
2,291,302
Merck
&
Co.,
Inc.
14,592
1,346,112
Pfizer,
Inc.
32,686
863,891
Viatris,
Inc.
6,882
63,521
Zoetis,
Inc.,
Class
a
A
2,605
435,660
9,886,165
Professional
Services
—
0.9%
Automatic
Data
Processing,
Inc.
2,351
740,988
Broadridge
Financial
Solutions,
Inc.
676
163,065
Dayforce,
Inc.*
913
56,597
Equifax,
Inc.
718
176,054
Jacobs
Solutions,
Inc.
720
92,239
Leidos
Holdings,
Inc.
766
99,557
Paychex,
Inc.
1,845
279,831
Paycom
Software,
Inc.
284
62,329
Verisk
Analytics,
Inc.,
Class
a
A
814
241,685
1,912,345
Real
Estate
Management
&
Development
—
0.2%
CBRE
Group,
Inc.,
Class
a
A*
1,737
246,550
CoStar
Group,
Inc.*
2,367
180,484
427,034
Residential
REITs
—
0.4%
AvalonBay
Communities,
Inc.,
REIT
819
185,242
Camden
Property
Trust,
REIT
623
77,289
Equity
Residential,
REIT
1,973
146,337
Essex
Property
Trust,
Inc.,
REIT
378
117,774
Invitation
Homes,
Inc.,
REIT
3,283
111,655
Mid-America
Apartment
Communities,
Inc.,
REIT
676
113,649
UDR,
Inc.,
REIT
1,735
78,387
830,333
FEBRUARY
28,
2025
(Unaudited)
::
S&P
500
®
EX-TECHNOLOGY
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
133
SPXT
::
Investments
Shares
Value
Common
Stocks
(continued)
Retail
REITs
—
0.4%
Federal
Realty
Investment
Trust,
REIT
442
$
46,596
Kimco
Realty
Corp.,
REIT
3,893
86,035
Realty
Income
Corp.,
REIT
5,048
287,887
Regency
Centers
Corp.,
REIT
947
72,635
Simon
Property
Group,
Inc.,
REIT
1,772
329,752
822,905
Specialized
REITs
—
1.3%
American
Tower
Corp.,
REIT
2,693
553,735
Crown
Castle,
Inc.,
REIT
2,506
235,815
Digital
Realty
Trust,
Inc.,
REIT
1,793
280,282
Equinix,
Inc.,
REIT
562
508,396
Extra
Space
Storage,
Inc.,
REIT
1,221
186,276
Iron
Mountain,
Inc.,
REIT
1,693
157,737
Public
Storage,
REIT
912
276,901
SBA
Communications
Corp.,
Class
a
A,
REIT
628
136,841
VICI
Properties,
Inc.,
Class
a
A,
REIT
6,079
197,507
Weyerhaeuser
Co.,
REIT
4,191
126,149
2,659,639
Specialty
Retail
—
2.7%
AutoZone,
Inc.*
101
352,794
Best
Buy
Co.,
Inc.
1,130
101,598
CarMax,
Inc.*
896
74,341
Home
Depot,
Inc.
(The)
5,731
2,272,915
Lowe's
Cos.,
Inc.
3,277
814,793
O'Reilly
Automotive,
Inc.*
339
465,664
Ross
Stores,
Inc.
1,915
268,713
TJX
Cos.,
Inc.
(The)
6,504
811,439
Tractor
Supply
Co.
3,078
170,367
Ulta
Beauty,
Inc.*
275
100,749
5,433,373
Textiles,
Apparel
&
Luxury
Goods
—
0.5%
Deckers
Outdoor
Corp.*
878
122,358
Lululemon
Athletica,
Inc.*
652
238,378
NIKE,
Inc.,
Class
a
B
6,872
545,843
Ralph
Lauren
Corp.,
Class
a
A
232
62,904
Tapestry,
Inc.
1,348
115,146
1,084,629
Tobacco
—
1.0%
Altria
Group,
Inc.
9,779
546,157
Philip
Morris
International,
Inc.
8,973
1,393,328
1,939,485
Trading
Companies
&
Distributors
—
0.4%
Fastenal
Co.
3,301
249,985
United
Rentals,
Inc.
386
247,935
WW
Grainger,
Inc.
257
262,451
760,371
Investments
Shares
Value
Common
Stocks
(continued)
Water
Utilities
—
0.1%
American
Water
Works
Co.,
Inc.
1,127
$
153,238
Wireless
Telecommunication
Services
—
0.4%
T-Mobile
US,
Inc.
2,814
758,908
Total
Common
Stocks
(Cost
$194,447,595)
201,838,382
Principal
Amount
Short-Term
Investments
—
0
.1
%
Repurchase
Agreements
(b)
—
0
.1
%
Repurchase
Agreements
with
various
counterparties,
rates
4.15%
-
4.36%,
dated
2/28/2025,
due
3/3/2025,
total
to
be
received
$151,740
(Cost
$151,684)
$
151,684
151,684
Total
Investments
—
99.9%
(Cost
$194,599,279)
201,990,066
Other
assets
less
liabilities
—
0.1%
253,125
Net
Assets
—
100.0%
$
202,243,191
*
Non-income
producing
security.
(a)
Represents
less
than
0.05%
of
net
assets.
(b)
The
Fund
invests
in
Repurchase
Agreements
jointly
with
other
funds
in
the
Trust.
See
"Repurchase
Agreements"
in
the
Notes
to
Schedules
of
Portfolio
Investments
to
view
the
details
of
each
individual
agreement
and
counterparty
as
well
as
a
description
of
the
securities
subject
to
repurchase.
Abbreviations
REIT
Real
Estate
Investment
Trust
S&P
500
®
HIGH
INCOME
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
134
ISPY
::
Investments
Shares
Value
Common
Stocks
(a)
—
97.0%
Aerospace
&
Defense
—
1.9%
Axon
Enterprise,
Inc.*
966
$
510,483
Boeing
Co.
(The)*
9,971
1,741,236
General
Dynamics
Corp.
3,441
869,197
General
Electric
Co.
14,431
2,986,928
Howmet
Aerospace,
Inc.
5,417
739,962
Huntington
Ingalls
Industries,
Inc.
522
91,653
L3Harris
Technologies,
Inc.
2,529
521,252
Lockheed
Martin
Corp.
2,813
1,266,891
Northrop
Grumman
Corp.
1,826
843,137
RTX
Corp.
17,746
2,360,040
Textron,
Inc.
2,474
184,882
TransDigm
Group,
Inc.
750
1,025,400
13,141,061
Air
Freight
&
Logistics
—
0.3%
CH
Robinson
Worldwide,
Inc.
1,576
160,153
Expeditors
International
of
Washington,
Inc.
1,866
218,994
FedEx
Corp.
2,997
787,911
United
Parcel
Service,
Inc.,
Class
a
B
9,751
1,160,662
2,327,720
Automobile
Components
—
0.0%(b)
Aptiv
plc*
3,134
204,086
BorgWarner,
Inc.
2,915
86,780
290,866
Automobiles
—
1.7%
Ford
Motor
Co.
52,076
497,326
General
Motors
Co.
14,665
720,491
Tesla,
Inc.*
37,239
10,910,282
12,128,099
Banks
—
3.5%
Bank
of
America
Corp.
89,032
4,104,375
Citigroup,
Inc.
25,219
2,016,259
Citizens
Financial
Group,
Inc.
5,876
268,945
Fifth
Third
Bancorp
8,941
388,665
Huntington
Bancshares,
Inc.
19,372
319,057
JPMorgan
Chase
&
Co.
37,555
9,938,931
KeyCorp
13,220
228,970
M&T
Bank
Corp.
2,213
424,276
PNC
Financial
Services
Group,
Inc.
(The)
5,291
1,015,449
Regions
Financial
Corp.
12,118
287,318
Truist
Financial
Corp.
17,705
820,627
US
Bancorp
20,806
975,801
Wells
Fargo
&
Co.
44,399
3,477,330
24,266,003
Beverages
—
1.2%
Brown-Forman
Corp.,
Class
a
B
2,428
80,391
Coca-Cola
Co.
(The)
51,705
3,681,913
Constellation
Brands,
Inc.,
Class
a
A
2,082
365,391
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Keurig
Dr
Pepper,
Inc.
15,013
$
503,236
Molson
Coors
Beverage
Co.,
Class
a
B
2,329
142,745
Monster
Beverage
Corp.*
9,337
510,267
PepsiCo,
Inc.
18,294
2,807,580
8,091,523
Biotechnology
—
1.8%
AbbVie,
Inc.
23,562
4,925,165
Amgen,
Inc.
7,168
2,208,174
Biogen,
Inc.*
1,943
272,991
Gilead
Sciences,
Inc.
16,618
1,899,604
Incyte
Corp.*
2,132
156,702
Moderna,
Inc.*
4,515
139,784
Regeneron
Pharmaceuticals,
Inc.
1,404
981,031
Vertex
Pharmaceuticals,
Inc.*
3,434
1,647,599
12,231,050
Broadline
Retail
—
3.9%
Amazon.com,
Inc.*
124,846
26,502,309
eBay,
Inc.
6,387
413,494
26,915,803
Building
Products
—
0.5%
A
O
Smith
Corp.
1,588
105,570
Allegion
plc
1,159
149,175
Builders
FirstSource,
Inc.*
1,535
213,350
Carrier
Global
Corp.
11,124
720,835
Johnson
Controls
International
plc
8,908
763,059
Lennox
International,
Inc.
427
256,648
Masco
Corp.
2,877
216,293
Trane
Technologies
plc
3,000
1,061,100
3,486,030
Capital
Markets
—
3.2%
Ameriprise
Financial,
Inc.
1,294
695,266
Bank
of
New
York
Mellon
Corp.
(The)
9,695
862,370
Blackrock,
Inc.
1,941
1,897,871
Blackstone,
Inc.
9,634
1,552,615
Cboe
Global
Markets,
Inc.
1,396
294,277
Charles
Schwab
Corp.
(The)
22,745
1,808,910
CME
Group,
Inc.
4,805
1,219,365
FactSet
Research
Systems,
Inc.
507
234,102
Franklin
Resources,
Inc.
4,119
83,410
Goldman
Sachs
Group,
Inc.
(The)
4,185
2,604,284
Intercontinental
Exchange,
Inc.
7,656
1,326,249
Invesco
Ltd.
5,997
104,288
KKR
&
Co.,
Inc.
9,001
1,220,446
MarketAxess
Holdings,
Inc.
503
96,973
Moody's
Corp.
2,078
1,047,187
Morgan
Stanley
16,541
2,201,773
MSCI,
Inc.,
Class
a
A
1,045
617,083
Nasdaq,
Inc.
5,518
456,780
Northern
Trust
Corp.
2,643
291,312
Raymond
James
Financial,
Inc.
2,440
377,395
S&P
Global,
Inc.
4,233
2,259,321
FEBRUARY
28,
2025
(Unaudited)
::
S&P
500
®
HIGH
INCOME
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
135
ISPY
::
Investments
Shares
Value
Common
Stocks
(a)
(continued)
State
Street
Corp.
3,909
$
387,890
T.
Rowe
Price
Group,
Inc.
2,963
313,248
21,952,415
Chemicals
—
1.3%
Air
Products
and
Chemicals,
Inc.
2,966
937,701
Albemarle
Corp.
1,567
120,706
Celanese
Corp.,
Class
a
A
1,458
74,271
CF
Industries
Holdings,
Inc.
2,320
187,966
Corteva,
Inc.
9,168
577,401
Dow,
Inc.
9,334
355,719
DuPont
de
Nemours,
Inc.
5,574
455,786
Eastman
Chemical
Co.
1,546
151,276
Ecolab,
Inc.
3,361
904,143
FMC
Corp.
1,665
61,438
International
Flavors
&
Fragrances,
Inc.
3,410
278,972
Linde
plc
6,349
2,965,300
LyondellBasell
Industries
NV,
Class
a
A
3,464
266,139
Mosaic
Co.
(The)
4,234
101,277
PPG
Industries,
Inc.
3,094
350,303
Sherwin-Williams
Co.
(The)
3,090
1,119,414
8,907,812
Commercial
Services
&
Supplies
—
0.6%
Cintas
Corp.
4,572
948,690
Copart,
Inc.*
11,690
640,612
Republic
Services,
Inc.,
Class
a
A
2,715
643,509
Rollins,
Inc.
3,745
196,201
Veralto
Corp.
3,298
329,009
Waste
Management,
Inc.
4,871
1,133,871
3,891,892
Communications
Equipment
—
0.9%
Arista
Networks,
Inc.*
13,774
1,281,671
Cisco
Systems,
Inc.
53,176
3,409,113
F5,
Inc.*
776
226,926
Juniper
Networks,
Inc.
4,415
159,823
Motorola
Solutions,
Inc.
2,229
981,250
6,058,783
Construction
&
Engineering
—
0.1%
Quanta
Services,
Inc.
1,970
511,471
Construction
Materials
—
0.1%
Martin
Marietta
Materials,
Inc.
815
393,759
Vulcan
Materials
Co.
1,761
435,513
829,272
Consumer
Finance
—
0.6%
American
Express
Co.
7,421
2,233,424
Capital
One
Financial
Corp.
5,087
1,020,198
Discover
Financial
Services
3,348
653,496
Synchrony
Financial
5,191
314,990
4,222,108
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Consumer
Staples
Distribution
&
Retail
—
2.1%
Costco
Wholesale
Corp.
5,908
$
6,195,188
Dollar
General
Corp.
2,933
217,570
Dollar
Tree,
Inc.*
2,695
196,358
Kroger
Co.
(The)
8,876
575,342
Sysco
Corp.
6,550
494,787
Target
Corp.
6,143
763,206
Walgreens
Boots
Alliance,
Inc.
9,568
102,186
Walmart,
Inc.
57,904
5,709,914
14,254,551
Containers
&
Packaging
—
0.2%
Amcor
plc
19,273
195,043
Avery
Dennison
Corp.
1,071
201,316
Ball
Corp.
3,979
209,654
International
Paper
Co.
6,998
394,337
Packaging
Corp.
of
America
1,189
253,364
Smurfit
WestRock
plc
6,590
343,141
1,596,855
Distributors
—
0.1%
Genuine
Parts
Co.
1,854
231,527
LKQ
Corp.
3,466
146,231
Pool
Corp.
508
176,276
554,034
Diversified
Telecommunication
Services
—
0.7%
AT&T,
Inc.
95,676
2,622,479
Verizon
Communications,
Inc.
56,132
2,419,289
5,041,768
Electric
Utilities
—
1.5%
Alliant
Energy
Corp.
3,422
220,822
American
Electric
Power
Co.,
Inc.
7,101
753,061
Constellation
Energy
Corp.
4,168
1,044,271
Duke
Energy
Corp.
10,301
1,210,264
Edison
International
5,163
281,074
Entergy
Corp.
5,717
499,151
Evergy,
Inc.
3,066
211,278
Eversource
Energy
4,885
307,804
Exelon
Corp.
13,399
592,236
FirstEnergy
Corp.
6,839
265,148
NextEra
Energy,
Inc.
27,433
1,924,973
NRG
Energy,
Inc.
2,701
285,523
PG&E
Corp.
29,150
476,311
Pinnacle
West
Capital
Corp.
1,516
140,291
PPL
Corp.
9,840
346,466
Southern
Co.
(The)
14,611
1,311,922
Xcel
Energy,
Inc.
7,659
552,214
10,422,809
Electrical
Equipment
—
0.7%
AMETEK,
Inc.
3,084
583,801
Eaton
Corp.
plc
5,271
1,546,090
Emerson
Electric
Co.
7,603
924,601
GE
Vernova,
Inc.
3,676
1,232,122
Generac
Holdings,
Inc.*
794
108,103
S&P
500
®
HIGH
INCOME
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
136
ISPY
::
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Hubbell,
Inc.,
Class
a
B
716
$
266,058
Rockwell
Automation,
Inc.
1,506
432,448
5,093,223
Electronic
Equipment,
Instruments
&
Components
—
0.6%
Amphenol
Corp.,
Class
a
A
16,080
1,070,928
CDW
Corp.
1,777
316,661
Corning,
Inc.
10,278
515,442
Jabil,
Inc.
1,505
233,155
Keysight
Technologies,
Inc.*
2,315
369,312
TE
Connectivity
plc
3,991
614,734
Teledyne
Technologies,
Inc.*
621
319,827
Trimble,
Inc.*
3,256
234,367
Zebra
Technologies
Corp.,
Class
a
A*
688
216,754
3,891,180
Energy
Equipment
&
Services
—
0.2%
Baker
Hughes
Co.,
Class
a
A
13,194
588,320
Halliburton
Co.
11,713
308,872
Schlumberger
NV
18,830
784,458
1,681,650
Entertainment
—
1.4%
Electronic
Arts,
Inc.
3,183
410,989
Live
Nation
Entertainment,
Inc.*
2,091
299,766
Netflix,
Inc.*
5,700
5,589,192
Take-Two
Interactive
Software,
Inc.*
2,177
461,480
Walt
Disney
Co.
(The)
24,154
2,748,725
Warner
Bros
Discovery,
Inc.*
29,780
341,279
9,851,431
Financial
Services
—
4.6%
Apollo
Global
Management,
Inc.
5,960
889,649
Berkshire
Hathaway,
Inc.,
Class
a
B*
24,441
12,558,519
Corpay,
Inc.*
930
341,357
Fidelity
National
Information
Services,
Inc.
7,179
510,571
Fiserv,
Inc.*
7,586
1,787,944
Global
Payments,
Inc.
3,394
357,320
Jack
Henry
&
Associates,
Inc.
973
168,903
Mastercard,
Inc.,
Class
a
A
10,930
6,299,068
PayPal
Holdings,
Inc.*
13,368
949,796
Visa,
Inc.,
Class
a
A
23,042
8,357,564
32,220,691
Food
Products
—
0.6%
Archer-Daniels-Midland
Co.
6,375
300,900
Bunge
Global
SA
1,862
138,142
Campbell's
Co.
(The)
2,619
104,917
Conagra
Brands,
Inc.
6,361
162,460
General
Mills,
Inc.
7,403
448,770
Hershey
Co.
(The)
1,970
340,239
Hormel
Foods
Corp.
3,875
110,941
J
M
Smucker
Co.
(The)
1,418
156,732
Kellanova
3,585
297,196
Kraft
Heinz
Co.
(The)
11,766
361,334
Lamb
Weston
Holdings,
Inc.
1,901
98,605
Investments
Shares
Value
Common
Stocks
(a)
(continued)
McCormick
&
Co.,
Inc.
(Non-Voting)
3,363
$
277,817
Mondelez
International,
Inc.,
Class
a
A
17,833
1,145,414
Tyson
Foods,
Inc.,
Class
a
A
3,812
233,828
4,177,295
Gas
Utilities
—
0.0%(b)
Atmos
Energy
Corp.
2,070
314,909
Ground
Transportation
—
0.9%
CSX
Corp.
25,713
823,073
JB
Hunt
Transport
Services,
Inc.
1,063
171,345
Norfolk
Southern
Corp.
3,014
740,690
Old
Dominion
Freight
Line,
Inc.
2,505
442,133
Uber
Technologies,
Inc.*
28,078
2,134,209
Union
Pacific
Corp.
8,084
1,994,242
6,305,692
Health
Care
Equipment
&
Supplies
—
2.4%
Abbott
Laboratories
23,138
3,193,276
Align
Technology,
Inc.*
936
175,060
Baxter
International,
Inc.
6,808
234,944
Becton
Dickinson
&
Co.
3,854
869,193
Boston
Scientific
Corp.*
19,652
2,039,681
Cooper
Cos.,
Inc.
(The)*
2,656
240,049
Dexcom,
Inc.*
5,208
460,231
Edwards
Lifesciences
Corp.*
7,865
563,291
GE
HealthCare
Technologies,
Inc.
6,092
532,136
Hologic,
Inc.*
3,098
196,382
IDEXX
Laboratories,
Inc.*
1,091
476,887
Insulet
Corp.*
935
254,573
Intuitive
Surgical,
Inc.*
4,749
2,721,890
Medtronic
plc
17,097
1,573,266
ResMed,
Inc.
1,958
457,232
Solventum
Corp.*
1,843
146,979
STERIS
plc
1,316
288,546
Stryker
Corp.
4,575
1,766,819
Teleflex,
Inc.
619
82,172
Zimmer
Biomet
Holdings,
Inc.
2,655
276,970
16,549,577
Health
Care
Providers
&
Services
—
2.0%
Cardinal
Health,
Inc.
3,227
417,832
Cencora,
Inc.
2,338
592,776
Centene
Corp.*
6,732
391,533
Cigna
Group
(The)
3,711
1,146,142
CVS
Health
Corp.
16,779
1,102,716
DaVita,
Inc.*
601
88,876
Elevance
Health,
Inc.
3,093
1,227,550
HCA
Healthcare,
Inc.
2,432
744,922
Henry
Schein,
Inc.*
1,663
120,019
Humana,
Inc.
1,605
434,024
Labcorp
Holdings,
Inc.
1,115
279,910
McKesson
Corp.
1,693
1,083,960
Molina
Healthcare,
Inc.*
763
229,754
Quest
Diagnostics,
Inc.
1,489
257,448
UnitedHealth
Group,
Inc.
12,271
5,828,234
FEBRUARY
28,
2025
(Unaudited)
::
S&P
500
®
HIGH
INCOME
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
137
ISPY
::
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Universal
Health
Services,
Inc.,
Class
a
B
783
$
137,221
14,082,917
Health
Care
REITs
—
0.3%
Alexandria
Real
Estate
Equities,
Inc.,
REIT
2,074
212,087
Healthpeak
Properties,
Inc.,
REIT
9,326
190,810
Ventas,
Inc.,
REIT
5,593
386,924
Welltower,
Inc.,
REIT
7,888
1,210,887
2,000,708
Hotel
&
Resort
REITs
—
0.0%(b)
Host
Hotels
&
Resorts,
Inc.,
REIT
9,320
150,332
Hotels,
Restaurants
&
Leisure
—
2.0%
Airbnb,
Inc.,
Class
a
A*
5,772
801,558
Booking
Holdings,
Inc.
441
2,212,060
Caesars
Entertainment,
Inc.*
2,833
94,112
Carnival
Corp.*
13,850
331,431
Chipotle
Mexican
Grill,
Inc.,
Class
a
A*
18,170
980,635
Darden
Restaurants,
Inc.
1,566
313,920
Domino's
Pizza,
Inc.
460
225,267
Expedia
Group,
Inc.*
1,638
324,258
Hilton
Worldwide
Holdings,
Inc.
3,250
861,120
Las
Vegas
Sands
Corp.
4,640
207,454
Marriott
International,
Inc.,
Class
a
A
3,075
862,384
McDonald's
Corp.
9,556
2,946,401
MGM
Resorts
International*
3,017
104,871
Norwegian
Cruise
Line
Holdings
Ltd.*
5,860
133,139
Royal
Caribbean
Cruises
Ltd.
3,298
811,638
Starbucks
Corp.
15,118
1,750,816
Wynn
Resorts
Ltd.
1,234
110,221
Yum!
Brands,
Inc.
3,721
581,853
13,653,138
Household
Durables
—
0.3%
DR
Horton,
Inc.
3,889
493,164
Garmin
Ltd.
2,048
468,849
Lennar
Corp.,
Class
a
A
3,185
381,022
Mohawk
Industries,
Inc.*
699
82,195
NVR,
Inc.*
41
297,069
PulteGroup,
Inc.
2,736
282,574
2,004,873
Household
Products
—
1.1%
Church
&
Dwight
Co.,
Inc.
3,267
363,290
Clorox
Co.
(The)
1,650
258,044
Colgate-Palmolive
Co.
10,894
993,206
Kimberly-Clark
Corp.
4,446
631,376
Procter
&
Gamble
Co.
(The)
31,408
5,459,967
7,705,883
Independent
Power
and
Renewable
Electricity
Producers
—
0.1%
AES
Corp.
(The)
9,480
109,873
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Vistra
Corp.
4,537
$
606,416
716,289
Industrial
Conglomerates
—
0.4%
3M
Co.
7,261
1,126,326
Honeywell
International,
Inc.
8,674
1,846,608
2,972,934
Industrial
REITs
—
0.2%
Prologis,
Inc.,
REIT
12,350
1,530,412
Insurance
—
2.2%
Aflac,
Inc.
6,667
729,837
Allstate
Corp.
(The)
3,531
703,199
American
International
Group,
Inc.
8,317
689,812
Aon
plc,
Class
a
A
2,884
1,179,902
Arch
Capital
Group
Ltd.
4,997
464,271
Arthur
J
Gallagher
&
Co.
3,331
1,125,012
Assurant,
Inc.
684
142,197
Brown
&
Brown,
Inc.
3,165
375,179
Chubb
Ltd.
4,999
1,427,115
Cincinnati
Financial
Corp.
2,084
308,036
Erie
Indemnity
Co.,
Class
a
A
333
142,547
Everest
Group
Ltd.
574
202,748
Globe
Life,
Inc.
1,119
142,594
Hartford
Insurance
Group,
Inc.
(The)
3,866
457,271
Loews
Corp.
2,410
208,875
Marsh
&
McLennan
Cos.,
Inc.
6,548
1,557,376
MetLife,
Inc.
7,758
668,584
Principal
Financial
Group,
Inc.
2,804
249,668
Progressive
Corp.
(The)
7,811
2,202,702
Prudential
Financial,
Inc.
4,750
546,725
Travelers
Cos.,
Inc.
(The)
3,027
782,449
W
R
Berkley
Corp.
4,014
253,203
Willis
Towers
Watson
plc
1,343
456,150
15,015,452
Interactive
Media
&
Services
—
6.3%
Alphabet,
Inc.,
Class
a
A
77,913
13,267,026
Alphabet,
Inc.,
Class
a
C
63,461
10,929,253
Match
Group,
Inc.
3,347
106,133
Meta
Platforms,
Inc.,
Class
a
A
29,083
19,433,261
43,735,673
IT
Services
—
1.2%
Accenture
plc,
Class
a
A
8,336
2,905,096
Akamai
Technologies,
Inc.*
2,004
161,683
Cognizant
Technology
Solutions
Corp.,
Class
a
A
6,611
550,894
EPAM
Systems,
Inc.*
757
156,048
Gartner,
Inc.*
1,029
512,771
GoDaddy,
Inc.,
Class
a
A*
1,870
335,665
International
Business
Machines
Corp.
12,329
3,112,333
VeriSign,
Inc.*
1,102
262,144
7,996,634
S&P
500
®
HIGH
INCOME
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
138
ISPY
::
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Leisure
Products
—
0.0%(b)
Hasbro,
Inc.
1,749
$
113,877
Life
Sciences
Tools
&
Services
—
1.0%
Agilent
Technologies,
Inc.
3,831
490,062
Bio-Techne
Corp.
2,119
130,848
Charles
River
Laboratories
International,
Inc.*
682
112,741
Danaher
Corp.
8,572
1,780,919
IQVIA
Holdings,
Inc.*
2,300
434,240
Mettler-Toledo
International,
Inc.*
282
358,907
Revvity,
Inc.
1,623
182,020
Thermo
Fisher
Scientific,
Inc.
5,101
2,698,225
Waters
Corp.*
792
298,853
West
Pharmaceutical
Services,
Inc.
966
224,440
6,711,255
Machinery
—
1.6%
Caterpillar,
Inc.
6,441
2,215,382
Cummins,
Inc.
1,829
673,401
Deere
&
Co.
3,393
1,631,321
Dover
Corp.
1,829
363,550
Fortive
Corp.
4,627
368,032
IDEX
Corp.
1,010
196,273
Illinois
Tool
Works,
Inc.
3,583
945,840
Ingersoll
Rand,
Inc.
5,374
455,608
Nordson
Corp.
724
152,250
Otis
Worldwide
Corp.
5,327
531,528
PACCAR,
Inc.
6,992
749,822
Parker-Hannifin
Corp.
1,717
1,147,832
Pentair
plc
2,203
207,523
Snap-on,
Inc.
700
238,819
Stanley
Black
&
Decker,
Inc.
2,055
177,819
Westinghouse
Air
Brake
Technologies
Corp.
2,292
424,845
Xylem,
Inc.
3,242
424,345
10,904,190
Media
—
0.5%
Charter
Communications,
Inc.,
Class
a
A*
1,290
469,005
Comcast
Corp.,
Class
a
A
50,898
1,826,220
Fox
Corp.,
Class
a
A
2,951
169,977
Fox
Corp.,
Class
a
B
1,760
95,163
Interpublic
Group
of
Cos.,
Inc.
(The)
4,967
136,096
News
Corp.,
Class
a
A
5,052
144,588
News
Corp.,
Class
a
B
1,492
48,162
Omnicom
Group,
Inc.
2,601
215,259
Paramount
Global,
Class
a
B
7,935
90,142
3,194,612
Metals
&
Mining
—
0.3%
Freeport-McMoRan,
Inc.
19,165
707,380
Newmont
Corp.
15,177
650,183
Nucor
Corp.
3,131
430,419
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Steel
Dynamics,
Inc.
1,888
$
255,012
2,042,994
Multi-Utilities
—
0.6%
Ameren
Corp.
3,560
361,554
CenterPoint
Energy,
Inc.
8,691
298,797
CMS
Energy
Corp.
3,984
291,031
Consolidated
Edison,
Inc.
4,620
469,022
Dominion
Energy,
Inc.
11,201
634,201
DTE
Energy
Co.
2,761
369,146
NiSource,
Inc.
6,225
254,042
Public
Service
Enterprise
Group,
Inc.
6,646
539,323
Sempra
8,448
604,623
WEC
Energy
Group,
Inc.
4,218
450,018
4,271,757
Office
REITs
—
0.0%(b)
BXP,
Inc.,
REIT
1,940
137,604
Oil,
Gas
&
Consumable
Fuels
—
3.0%
APA
Corp.
4,933
102,113
Chevron
Corp.
22,285
3,534,847
ConocoPhillips
17,249
1,710,238
Coterra
Energy,
Inc.
9,821
265,069
Devon
Energy
Corp.
8,759
317,251
Diamondback
Energy,
Inc.
2,493
396,287
EOG
Resources,
Inc.
7,499
951,923
EQT
Corp.
7,957
383,289
Exxon
Mobil
Corp.
58,606
6,524,606
Hess
Corp.
3,686
548,993
Kinder
Morgan,
Inc.
25,772
698,421
Marathon
Petroleum
Corp.
4,285
643,521
Occidental
Petroleum
Corp.
9,009
439,999
ONEOK,
Inc.
8,276
830,828
Phillips
66
5,507
714,203
Targa
Resources
Corp.
2,911
587,207
Texas
Pacific
Land
Corp.
251
358,415
Valero
Energy
Corp.
4,223
552,073
Williams
Cos.,
Inc.
(The)
16,255
945,716
20,504,999
Passenger
Airlines
—
0.2%
Delta
Air
Lines,
Inc.
8,549
513,966
Southwest
Airlines
Co.
7,997
248,387
United
Airlines
Holdings,
Inc.*
4,387
411,544
1,173,897
Personal
Care
Products
—
0.1%
Estee
Lauder
Cos.,
Inc.
(The),
Class
a
A
3,113
223,856
Kenvue,
Inc.
25,565
603,334
827,190
Pharmaceuticals
—
3.3%
Bristol-Myers
Squibb
Co.
27,046
1,612,483
Eli
Lilly
&
Co.
10,507
9,673,059
Johnson
&
Johnson
32,096
5,296,482
Merck
&
Co.,
Inc.
33,721
3,110,762
FEBRUARY
28,
2025
(Unaudited)
::
S&P
500
®
HIGH
INCOME
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
139
ISPY
::
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Pfizer,
Inc.
75,565
$
1,997,183
Viatris,
Inc.
15,914
146,886
Zoetis,
Inc.,
Class
a
A
6,016
1,006,116
22,842,971
Professional
Services
—
0.6%
Automatic
Data
Processing,
Inc.
5,434
1,712,688
Broadridge
Financial
Solutions,
Inc.
1,558
375,821
Dayforce,
Inc.*
2,103
130,365
Equifax,
Inc.
1,653
405,316
Jacobs
Solutions,
Inc.
1,657
212,278
Leidos
Holdings,
Inc.
1,782
231,606
Paychex,
Inc.
4,271
647,783
Paycom
Software,
Inc.
648
142,217
Verisk
Analytics,
Inc.,
Class
a
A
1,883
559,081
4,417,155
Real
Estate
Management
&
Development
—
0.1%
CBRE
Group,
Inc.,
Class
a
A*
4,011
569,321
CoStar
Group,
Inc.*
5,467
416,859
986,180
Residential
REITs
—
0.3%
AvalonBay
Communities,
Inc.,
REIT
1,894
428,385
Camden
Property
Trust,
REIT
1,422
176,413
Equity
Residential,
REIT
4,553
337,696
Essex
Property
Trust,
Inc.,
REIT
857
267,016
Invitation
Homes,
Inc.,
REIT
7,598
258,408
Mid-America
Apartment
Communities,
Inc.,
REIT
1,558
261,931
UDR,
Inc.,
REIT
4,005
180,946
1,910,795
Retail
REITs
—
0.3%
Federal
Realty
Investment
Trust,
REIT
1,020
107,528
Kimco
Realty
Corp.,
REIT
8,987
198,613
Realty
Income
Corp.,
REIT
11,672
665,654
Regency
Centers
Corp.,
REIT
2,178
167,053
Simon
Property
Group,
Inc.,
REIT
4,090
761,108
1,899,956
Semiconductors
&
Semiconductor
Equipment
—
10.3%
Advanced
Micro
Devices,
Inc.*
21,650
2,161,969
Analog
Devices,
Inc.
6,623
1,523,687
Applied
Materials,
Inc.
10,993
1,737,664
Broadcom,
Inc.
62,297
12,423,891
Enphase
Energy,
Inc.*
1,801
103,251
First
Solar,
Inc.*
1,428
194,465
Intel
Corp.
57,510
1,364,712
KLA
Corp.
1,787
1,266,697
Lam
Research
Corp.
17,157
1,316,628
Microchip
Technology,
Inc.
7,161
421,496
Micron
Technology,
Inc.
14,784
1,384,226
Monolithic
Power
Systems,
Inc.
650
397,156
NVIDIA
Corp.
327,089
40,859,958
NXP
Semiconductors
NV
3,389
730,635
Investments
Shares
Value
Common
Stocks
(a)
(continued)
ON
Semiconductor
Corp.*
5,678
$
267,150
QUALCOMM,
Inc.
14,815
2,328,474
Skyworks
Solutions,
Inc.
2,130
141,986
Teradyne,
Inc.
2,172
238,616
Texas
Instruments,
Inc.
12,164
2,384,022
71,246,683
Software
—
9.6%
Adobe,
Inc.*
5,869
2,573,909
ANSYS,
Inc.*
1,166
388,569
Autodesk,
Inc.*
2,867
786,160
Cadence
Design
Systems,
Inc.*
3,657
916,078
Crowdstrike
Holdings,
Inc.,
Class
a
A*
3,103
1,209,115
Fair
Isaac
Corp.*
325
613,064
Fortinet,
Inc.*
8,485
916,465
Gen
Digital,
Inc.
7,230
197,596
Intuit,
Inc.
3,736
2,293,306
Microsoft
Corp.
99,171
39,369,895
Oracle
Corp.
21,431
3,558,832
Palantir
Technologies,
Inc.,
Class
a
A*
27,385
2,325,534
Palo
Alto
Networks,
Inc.*
8,727
1,661,883
PTC,
Inc.*
1,601
261,972
Roper
Technologies,
Inc.
1,430
835,835
Salesforce,
Inc.
12,755
3,799,077
ServiceNow,
Inc.*
2,746
2,553,121
Synopsys,
Inc.*
2,048
936,509
Tyler
Technologies,
Inc.*
571
347,413
Workday,
Inc.,
Class
a
A*
2,840
747,886
66,292,219
Specialized
REITs
—
0.9%
American
Tower
Corp.,
REIT
6,231
1,281,218
Crown
Castle,
Inc.,
REIT
5,793
545,121
Digital
Realty
Trust,
Inc.,
REIT
4,156
649,666
Equinix,
Inc.,
REIT
1,287
1,164,246
Extra
Space
Storage,
Inc.,
REIT
2,827
431,287
Iron
Mountain,
Inc.,
REIT
3,915
364,761
Public
Storage,
REIT
2,101
637,906
SBA
Communications
Corp.,
Class
a
A,
REIT
1,434
312,469
VICI
Properties,
Inc.,
Class
a
A,
REIT
14,056
456,679
Weyerhaeuser
Co.,
REIT
9,688
291,609
6,134,962
Specialty
Retail
—
1.8%
AutoZone,
Inc.*
225
785,927
Best
Buy
Co.,
Inc.
2,606
234,306
CarMax,
Inc.*
2,065
171,333
Home
Depot,
Inc.
(The)
13,244
5,252,570
Lowe's
Cos.,
Inc.
7,564
1,880,713
O'Reilly
Automotive,
Inc.*
770
1,057,703
Ross
Stores,
Inc.
4,423
620,635
TJX
Cos.,
Inc.
(The)
15,040
1,876,390
Tractor
Supply
Co.
7,124
394,314
Ulta
Beauty,
Inc.*
628
230,074
12,503,965
S&P
500
®
HIGH
INCOME
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
140
ISPY
::
Investments
Shares
Value
Common
Stocks
(a)
(continued)
Technology
Hardware,
Storage
&
Peripherals
—
7.3%
Apple,
Inc.
201,558
$
48,744,787
Dell
Technologies,
Inc.,
Class
a
C
4,096
420,905
Hewlett
Packard
Enterprise
Co.
17,324
343,188
HP,
Inc.
12,849
396,649
NetApp,
Inc.
2,731
272,581
Seagate
Technology
Holdings
plc
2,820
287,386
Super
Micro
Computer,
Inc.*
6,715
278,404
Western
Digital
Corp.*
4,610
225,567
50,969,467
Textiles,
Apparel
&
Luxury
Goods
—
0.4%
Deckers
Outdoor
Corp.*
2,025
282,204
Lululemon
Athletica,
Inc.*
1,506
550,609
NIKE,
Inc.,
Class
a
B
15,875
1,260,951
Ralph
Lauren
Corp.,
Class
a
A
537
145,602
Tapestry,
Inc.
3,111
265,742
2,505,108
Tobacco
—
0.6%
Altria
Group,
Inc.
22,599
1,262,154
Philip
Morris
International,
Inc.
20,735
3,219,731
4,481,885
Trading
Companies
&
Distributors
—
0.2%
Fastenal
Co.
7,639
578,502
United
Rentals,
Inc.
875
562,030
WW
Grainger,
Inc.
591
603,535
1,744,067
Water
Utilities
—
0.0%(b)
American
Water
Works
Co.,
Inc.
2,599
353,386
Wireless
Telecommunication
Services
—
0.3%
T-Mobile
US,
Inc.
6,499
1,752,715
Total
Common
Stocks
(Cost
$651,924,926)
672,696,707
Principal
Amount
Short-Term
Investments
—
2.5%
Repurchase
Agreements
(c)
—
2.5%
Repurchase
Agreements
with
various
counterparties,
rates
4.15%
-
4.36%,
dated
2/28/2025,
due
3/3/2025,
total
to
be
received
$17,653,657
(Cost
$17,647,291)
$
17,647,291
17,647,291
Total
Investments
—
99.5%
(Cost
$669,572,217)
690,343,998
Other
assets
less
liabilities
—
0.5%
3,449,126
Net
Assets
—
100.0%
$
693,793,124
*
Non-income
producing
security.
(a)
All
or
a
portion
of
these
securities
are
segregated
in
connection
with
obligations
for
swaps
with
a
total
value
of
$205,101,148.
(b)
Represents
less
than
0.05%
of
net
assets.
(c)
The
Fund
invests
in
Repurchase
Agreements
jointly
with
other
funds
in
the
Trust.
See
"Repurchase
Agreements"
in
the
Notes
to
Schedules
of
Portfolio
Investments
to
view
the
details
of
each
individual
agreement
and
counterparty
as
well
as
a
description
of
the
securities
subject
to
repurchase.
Abbreviations
REIT
Real
Estate
Investment
Trust
FEBRUARY
28,
2025
(Unaudited)
::
S&P
500
®
HIGH
INCOME
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
141
ISPY
::
Futures
Contracts
Purchased
S&P
500
®
High
Income
ETF
had
the
following
open
long
futures
contracts
as
of
February
28,
2025:
Number
of
Contracts
AAAAAA
Expiration
Date
AAAAAA
Trading
Currency
AA
Notional
Amount
AAAAAA
Value
and
Unrealized
Depreciation
AAAAAA
S&P
500
E-Mini
Index
61
3/21/2025
U.S.
Dollar
$
18,187,913
$
(376,857
)
Swap
Agreements
S&P
500
®
High
Income
ETF
had
the
following
open
non-exchange
traded
total
return
swap
agreements
as
of
February
28,
2025:
Notional
Amount  
($)
Termination
Date
a
Counterparty
Rate
Paid
(Received)
b
Reference
Instrument
Value
and
Unrealized
Depreciation
($)
38,154,560
11/6/2025
BNP
Paribas
SA
N/A
S&P
500
®
Daily
Covered
Call
Index
(128,654)
652,965,530
12/11/2025
Goldman
Sachs
International
N/A
S&P
500
Daily
Covered
Call
Index
(2,088,484)
691,120,090
(2,217,138)
Total
Unrealized
Depreciation
(2,217,138)
a
Agreements
may
be
terminated
at
will
by
either
party
without
penalty.
Payment
is
due
at
termination/maturity.
b
No
financing
fee
is
paid
or
received
on
this
swap.
The
fund
receives
the
appreciation
on
the
Reference
Instrument
from
the
counterparty
and
pays
the
deprecation
on
the
Reference
Instrument
to
the
counterparty.
This
amount
is
included
as
part
of
the
unrealized
appreciation/
(depreciation).
S&P
GLOBAL
CORE
BATTERY
METALS
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
142
ION
::
Investments
Shares
Value
Common
Stocks
—
99.7%
Broadline
Retail
—
0.9%
Wesfarmers
Ltd.
479
$
22,042
Chemicals
—
26.3%
Albemarle
Corp.
981
75,566
Arcadium
Lithium
plc*
16,172
94,444
Chengxin
Lithium
Group
Co.
Ltd.,
Class
a
A
31,500
57,696
Ganfeng
Lithium
Group
Co.
Ltd.,
Class
a
H(a)
27,666
77,729
Qinghai
Salt
Lake
Industry
Co.
Ltd.,
Class
a
A*
36,000
81,557
Sociedad
Quimica
y
Minera
de
Chile
SA,
ADR
2,270
87,100
Tianqi
Lithium
Corp.,
Class
a
A
17,600
78,344
Zangge
Mining
Co.
Ltd.,
Class
a
A
25,500
111,864
664,300
Construction
&
Engineering
—
0.6%
Metallurgical
Corp.
of
China
Ltd.,
Class
a
H
77,008
15,843
Electrical
Equipment
—
2.6%
Contemporary
Amperex
Technology
Co.
Ltd.,
Class
a
A
400
14,515
Zhejiang
Huayou
Cobalt
Co.
Ltd.,
Class
a
A
11,200
50,747
65,262
Metals
&
Mining
—
68.0%
African
Rainbow
Minerals
Ltd.
(b)
8,907
64,268
AMG
Critical
Materials
NV
5,083
87,371
Aneka
Tambang
Tbk.
728,347
69,628
Anglo
American
Platinum
Ltd.
1,655
49,786
Anglo
American
plc
1,336
39,258
BHP
Group
Ltd.
1,150
27,858
Boliden
AB
1,423
49,693
China
Nonferrous
Mining
Corp.
Ltd.
72,183
44,087
CMOC
Group
Ltd.,
Class
a
H
70,132
46,983
Core
Lithium
Ltd.*(b)
477,321
25,768
Eramet
SA
1,212
65,567
First
Quantum
Minerals
Ltd.*
3,904
48,437
Franco-Nevada
Corp.
187
26,693
Glencore
plc
7,223
28,997
IGO
Ltd.
32,950
81,373
Impala
Platinum
Holdings
Ltd.*
5,726
26,971
Jinchuan
Group
International
Resources
Co.
Ltd.
1,013,929
67,795
KGHM
Polska
Miedz
SA
601
19,233
Lundin
Mining
Corp.
6,604
52,905
Mineral
Resources
Ltd.(b)
3,793
53,449
MMG
Ltd.*
6,706
1,957
Northam
Platinum
Holdings
Ltd.
4,717
24,402
Pacific
Metals
Co.
Ltd.*
8,843
114,139
Pilbara
Minerals
Ltd.*
69,360
81,772
POSCO
Holdings,
Inc.,
ADR
143
6,612
Investments
Shares
Value
Common
Stocks
(continued)
Sayona
Mining
Ltd.*(b)
2,820,922
$
33,257
Sibanye
Stillwater
Ltd.*
40,102
30,178
Sinomine
Resource
Group
Co.
Ltd.,
Class
a
A
18,700
87,168
South32
Ltd.
28,352
61,925
Tibet
Mineral
Development
Co.
Ltd.,
Class
a
A
34,900
104,271
Timah
Tbk.
PT*
1,001,809
53,172
Vale
Indonesia
Tbk.
PT*
446,663
78,395
Vale
SA,
Class
a
B,
ADR
5,365
50,592
Zijin
Mining
Group
Co.
Ltd.,
Class
a
H
5,756
10,762
1,714,722
Trading
Companies
&
Distributors
—
1.3%
Sojitz
Corp.
215
4,692
Sumitomo
Corp.
915
20,387
Toyota
Tsusho
Corp.
502
8,320
33,399
Total
Common
Stocks
(Cost
$3,269,050)
2,515,568
Total
Investments
—
99.7%
(Cost
$3,269,050)
2,515,568
Other
assets
less
liabilities
—
0.3%
7,786
Net
Assets
—
100.0%
$
2,523,354
*
Non-income
producing
security.
(a)
Security
exempt
from
registration
pursuant
to
Regulation
S
under
the
Securities
Act
of
1933.
Regulation
S
applies
to
securities
offerings
that
are
made
outside
of
the
United
States
and
do
not
involve
direct
selling
efforts
in
the
United
States
and
as
such
may
have
restrictions
on
resale.
(b)
The
security
or
a
portion
of
this
security
is
on
loan
at
February
28,
2025.
The
total
value
of
securities
on
loan
at
February
28,
2025
was
$78,757,
collateralized
in
the
form
of
U.S.
Government
Treasury
Securities,
interest
rates
ranging
from
0.13%
–
6.25%,
and
maturity
dates
ranging
from
March
15,
2025
–
August
15,
2054.
The
total
value
of
collateral
is
$85,913.
Abbreviations
ADR
American
Depositary
Receipt
FEBRUARY
28,
2025
(Unaudited)
::
S&P
GLOBAL
CORE
BATTERY
METALS
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
143
ION
::
S&P
Global
Core
Battery
Metals
ETF
invested,
as
a
percentage
of
net
assets,
in
the
following
countries
as
of
February
28,
2025:
China
33.7%
Australia
15.3%
Indonesia
8.0%
South
Africa
7.7%
United
States
6.7%
Japan
5.8%
Canada
5.1%
Netherlands
3.5%
Chile
3.4%
United
Kingdom
2.7%
France
2.6%
Brazil
2.0%
Sweden
2.0%
Poland
0.8%
South
Korea
0.3%
Hong
Kong
0.1%
Other
a
0.3%
100.0%
a
Includes
any
non-equity
securities
and
net
other
assets
(liabilities).
S&P
KENSHO
CLEANTECH
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
144
CTEX
::
Investments
Shares
Value
Common
Stocks
—
99.6%
Automobiles
—
2.3%
Tesla,
Inc.*
226
$
66,213
Building
Products
—
2.6%
Gibraltar
Industries,
Inc.*
1,144
75,172
Construction
&
Engineering
—
5.8%
Arcosa,
Inc.
1,050
88,074
Valmont
Industries,
Inc.
232
80,822
168,896
Diversified
Consumer
Services
—
2.9%
ADT,
Inc.
10,376
84,979
Electrical
Equipment
—
41.6%
American
Superconductor
Corp.*
2,480
56,321
Array
Technologies,
Inc.*
18,080
95,462
Ballard
Power
Systems,
Inc.*
82,921
101,993
Bloom
Energy
Corp.,
Class
a
A*
4,642
111,501
Energy
Vault
Holdings,
Inc.*
28,864
39,255
Eos
Energy
Enterprises,
Inc.*(a)
47,743
208,637
Fluence
Energy,
Inc.*(a)
3,714
21,244
GE
Vernova,
Inc.
324
108,598
Generac
Holdings,
Inc.*
613
83,460
NEXTracker,
Inc.,
Class
a
A*
3,029
133,337
Plug
Power,
Inc.*(a)
57,440
92,478
Shoals
Technologies
Group,
Inc.,
Class
a
A*
26,575
80,522
Sunrun,
Inc.*
11,358
82,346
1,215,154
Electronic
Equipment,
Instruments
&
Components
—
2.8%
Corning,
Inc.
1,657
83,099
Independent
Power
and
Renewable
Electricity
Producers
—
10.0%
Altus
Power,
Inc.,
Class
a
A*
28,497
140,490
Ormat
Technologies,
Inc.
1,389
97,008
Sunnova
Energy
International,
Inc.*(a)
32,047
53,198
290,696
Machinery
—
5.2%
Cummins,
Inc.
216
79,527
Hyster-Yale,
Inc.
1,446
73,486
153,013
Semiconductors
&
Semiconductor
Equipment
—
26.4%
Applied
Materials,
Inc.
462
73,028
Canadian
Solar,
Inc.*(a)
9,977
100,269
Daqo
New
Energy
Corp.,
ADR*
6,018
121,865
Enphase
Energy,
Inc.*
1,797
103,022
First
Solar,
Inc.*
588
80,074
JinkoSolar
Holding
Co.
Ltd.,
ADR(a)
5,295
119,296
Investments
Shares
Value
Common
Stocks
(continued)
SolarEdge
Technologies,
Inc.*(a)
10,534
$
173,706
771,260
Total
Common
Stocks
(Cost
$5,045,732)
2,908,482
Securities
Lending
Reinvestments
(b)
—
22.8%
Investment
Companies
—
22.8%
Invesco
Government
&
Agency
Portfolio,
Institutional
Class
4.29%
(c)
(Cost
$665,224)
665,224
665,224
Total
Investments
—
122.4%
(Cost
$5,710,956)
3,573,706
Liabilities
in
excess
of
other
assets
—
(22.4%)
(654,840)
Net
Assets
—
100.0%
$
2,918,866
*
Non-income
producing
security.
(a)
The
security
or
a
portion
of
this
security
is
on
loan
at
February
28,
2025.
The
total
value
of
securities
on
loan
at
February
28,
2025
was
$638,117,
collateralized
in
the
form
of
cash
with
a
value
of
$665,224
that
was
reinvested
in
the
securities
shown
in
the
Securities
Lending
Reinvestment
section
of
the
Schedule
of
Portfolio
Investments
and
$8,054
of
collateral
in
the
form
of
U.S.
Government
Treasury
Securities,
interest
rates
ranging
from
0.63%
–
4.63%,
and
maturity
dates
ranging
from
April
15,
2026
–
August
15,
2053.
The
total
value
of
collateral
is
$673,278.
(b)
The
security
was
purchased
with
cash
collateral
held
from
securities
on
loan
at
February
28,
2025.
The
total
value
of
securities
purchased
was
$665,224.
(c)
Rate
shown
is
the
7-day
yield
as
of
February
28,
2025.
Abbreviations
ADR
American
Depositary
Receipt
FEBRUARY
28,
2025
(Unaudited)
::
S&P
KENSHO
CLEANTECH
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
145
CTEX
::
S&P
Kensho
Cleantech
ETF
invested,
as
a
percentage
of
net
assets,
in
the
following
countries
as
of
February
28,
2025:
United
States
84.4%
China
8.3%
Canada
6.9%
Other
a
0.4%
100.0%
a
Includes
any
non-equity
securities
and
net
other
assets
(liabilities).
S&P
KENSHO
SMART
FACTORIES
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
146
MAKX
::
Investments
Shares
Value
Common
Stocks
—
99.7%
Electrical
Equipment
—
15.7%
Allient,
Inc.
1,324
$
32,941
Emerson
Electric
Co.
499
60,684
Rockwell
Automation,
Inc.
215
61,737
155,362
Electronic
Equipment,
Instruments
&
Components
—
23.1%
Cognex
Corp.
1,480
48,544
FARO
Technologies,
Inc.*
1,366
43,657
Ouster,
Inc.*
8,065
66,536
Sanmina
Corp.*
469
38,421
Zebra
Technologies
Corp.,
Class
a
A*
100
31,505
228,663
Machinery
—
15.2%
3D
Systems
Corp.*
17,693
59,979
Dover
Corp.
194
38,562
Stratasys
Ltd.*
4,886
51,645
150,186
Metals
&
Mining
—
3.2%
POSCO
Holdings,
Inc.,
ADR
679
31,397
Semiconductors
&
Semiconductor
Equipment
—
13.9%
Ambarella,
Inc.*
652
40,052
Applied
Materials,
Inc.
210
33,195
ON
Semiconductor
Corp.*
544
25,595
Investments
Shares
Value
Common
Stocks
(continued)
Tower
Semiconductor
Ltd.*
905
$
38,463
137,305
Software
—
16.0%
Aspen
Technology,
Inc.*
259
68,700
Autodesk,
Inc.*
209
57,310
PTC,
Inc.*
199
32,562
158,572
Trading
Companies
&
Distributors
—
3.7%
Applied
Industrial
Technologies,
Inc.
146
36,585
Wireless
Telecommunication
Services
—
8.9%
SK
Telecom
Co.
Ltd.,
ADR
2,033
44,502
Turkcell
Iletisim
Hizmetleri
A/S,
ADR
6,399
43,385
87,887
Total
Common
Stocks
(Cost
$936,747)
985,957
Total
Investments
—
99.7%
(Cost
$936,747)
985,957
Other
assets
less
liabilities
—
0.3%
2,859
Net
Assets
—
100.0%
$
988,816
*
Non-income
producing
security.
Abbreviations
ADR
American
Depositary
Receipt
S&P
Kensho
Smart
Factories
ETF
invested,
as
a
percentage
of
net
assets,
in
the
following
countries
as
of
February
28,
2025:
United
States
83.7%
South
Korea
7.7%
Turkey
4.4%
Israel
3.9%
Other
a
0.3%
100.0%
a
Includes
any
non-equity
securities
and
net
other
assets
(liabilities).
FEBRUARY
28,
2025
(Unaudited)
::
S&P
MIDCAP
400
®
DIVIDEND
ARISTOCRATS
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
147
REGL
::
Investments
Shares
Value
Common
Stocks
—
99
.8
%
Automobiles
—
1.8%
Thor
Industries,
Inc.
299,375
$
29,754,881
Banks
—
12.4%
Bank
OZK
590,520
28,350,865
Commerce
Bancshares,
Inc.
455,685
29,642,309
Cullen/Frost
Bankers,
Inc.
215,856
29,578,748
International
Bancshares
Corp.
457,765
30,670,255
Prosperity
Bancshares,
Inc.
379,498
29,130,267
UMB
Financial
Corp.
248,473
27,414,026
United
Bankshares,
Inc.
783,209
28,305,173
203,091,643
Building
Products
—
1.6%
Carlisle
Cos.,
Inc.
74,664
25,442,505
Capital
Markets
—
3.3%
Evercore,
Inc.,
Class
a
A
105,173
25,430,831
SEI
Investments
Co.
354,162
28,350,668
53,781,499
Chemicals
—
3.6%
RPM
International,
Inc.
237,843
29,466,369
Westlake
Corp.
255,612
28,705,228
58,171,597
Commercial
Services
&
Supplies
—
3.9%
MSA
Safety,
Inc.
183,643
30,062,359
RB
Global,
Inc.(a)
332,728
34,064,693
64,127,052
Consumer
Staples
Distribution
&
Retail
—
1.8%
Casey's
General
Stores,
Inc.
73,131
30,291,592
Containers
&
Packaging
—
5.4%
AptarGroup,
Inc.
189,988
27,880,739
Silgan
Holdings,
Inc.
572,426
31,088,456
Sonoco
Products
Co.
620,620
29,678,048
88,647,243
Electric
Utilities
—
4.0%
OGE
Energy
Corp.
696,185
32,219,442
Portland
General
Electric
Co.
729,627
32,709,178
64,928,620
Food
Products
—
3.8%
Flowers
Foods,
Inc.
1,504,514
28,194,592
Lancaster
Colony
Corp.
174,856
33,424,599
61,619,191
Gas
Utilities
—
10.0%
National
Fuel
Gas
Co.
432,612
32,532,423
New
Jersey
Resources
Corp.
641,673
31,044,140
ONE
Gas,
Inc.
436,822
32,827,173
Spire,
Inc.
431,805
33,188,532
UGI
Corp.
991,927
33,884,226
163,476,494
Investments
Shares
Value
Common
Stocks
(continued)
Ground
Transportation
—
1.8%
Ryder
System,
Inc.
183,441
$
30,170,541
Health
Care
Providers
&
Services
—
3.7%
Chemed
Corp.
54,586
32,795,269
Ensign
Group,
Inc.
(The)
216,915
28,014,572
60,809,841
Insurance
—
13.0%
American
Financial
Group,
Inc.
222,712
28,124,071
Hanover
Insurance
Group,
Inc.
(The)
195,739
33,379,372
Old
Republic
International
Corp.
830,349
31,976,740
Reinsurance
Group
of
America,
Inc.
133,763
27,112,422
RenaissanceRe
Holdings
Ltd.
117,472
27,913,697
RLI
Corp.
414,945
31,573,165
Unum
Group
400,949
32,994,093
213,073,560
Leisure
Products
—
1.5%
Polaris,
Inc.
558,708
25,097,163
Machinery
—
7.3%
Donaldson
Co.,
Inc.
416,094
28,747,935
Graco,
Inc.
350,282
30,499,054
Lincoln
Electric
Holdings,
Inc.
152,457
31,511,337
Toro
Co.
(The)
349,468
28,030,828
118,789,154
Metals
&
Mining
—
1.9%
Royal
Gold,
Inc.
215,685
31,705,695
Multi-Utilities
—
3.9%
Black
Hills
Corp.
522,502
31,966,673
Northwestern
Energy
Group,
Inc.
555,611
31,075,323
63,041,996
Oil,
Gas
&
Consumable
Fuels
—
1.6%
DT
Midstream,
Inc.
269,951
25,939,592
Pharmaceuticals
—
2.2%
Perrigo
Co.
plc
1,217,128
35,296,712
Professional
Services
—
1.8%
ManpowerGroup,
Inc.
498,016
28,700,662
Residential
REITs
—
1.9%
Equity
LifeStyle
Properties,
Inc.,
REIT
447,348
30,679,126
Retail
REITs
—
2.0%
NNN
REIT,
Inc.
757,753
32,166,615
S&P
MIDCAP
400
®
DIVIDEND
ARISTOCRATS
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
148
REGL
::
Investments
Shares
Value
Common
Stocks
(continued)
Specialty
Retail
—
1.7%
Williams-Sonoma,
Inc.
140,801
$
27,397,059
Trading
Companies
&
Distributors
—
1.8%
Applied
Industrial
Technologies,
Inc.
115,381
28,912,171
Water
Utilities
—
2.1%
Essential
Utilities,
Inc.
898,036
34,107,407
Total
Common
Stocks
(Cost
$1,472,939,123)
1,629,219,611
Principal
Amount
Short-Term
Investments
—
0
.1
%
Repurchase
Agreements
(b)
—
0
.1
%
Repurchase
Agreements
with
various
counterparties,
rates
4.15%
-
4.36%,
dated
2/28/2025,
due
3/3/2025,
total
to
be
received
$1,764,115
(Cost
$1,763,478)
$
1,763,478
1,763,478
Total
Investments
—
99.9%
(Cost
$1,474,702,601)
1,630,983,089
Other
assets
less
liabilities
—
0.1%
2,015,651
Net
Assets
—
100.0%
$
1,632,998,740
(a)
The
security
or
a
portion
of
this
security
is
on
loan
at
February
28,
2025.
The
total
value
of
securities
on
loan
at
February
28,
2025
was
$1,863,316,
collateralized
in
the
form
of
U.S.
Government
Treasury
Securities,
interest
rates
ranging
from
0.13%
–
6.25%,
and
maturity
dates
ranging
from
July
15,
2025
–
August
15,
2049.
The
total
value
of
collateral
is
$1,926,018.
(b)
The
Fund
invests
in
Repurchase
Agreements
jointly
with
other
funds
in
the
Trust.
See
"Repurchase
Agreements"
in
the
Notes
to
Schedules
of
Portfolio
Investments
to
view
the
details
of
each
individual
agreement
and
counterparty
as
well
as
a
description
of
the
securities
subject
to
repurchase.
Abbreviations
REIT
Real
Estate
Investment
Trust
FEBRUARY
28,
2025
(Unaudited)
::
S&P
TECHNOLOGY
DIVIDEND
ARISTOCRATS
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
149
TDV
::
Investments
Shares
Value
Common
Stocks
—
99
.8
%
Communications
Equipment
—
5.3%
Cisco
Systems,
Inc.
110,747
$
7,099,990
Motorola
Solutions,
Inc.
14,462
6,366,462
13,466,452
Electronic
Equipment,
Instruments
&
Components
—
17.3%
Amphenol
Corp.,
Class
a
A
87,683
5,839,688
Avnet,
Inc.
125,441
6,339,788
Badger
Meter,
Inc.
31,241
6,570,919
CDW
Corp.
35,128
6,259,810
Cognex
Corp.
169,027
5,544,086
Littelfuse,
Inc.
28,984
6,727,476
TE
Connectivity
plc
44,008
6,778,552
44,060,319
Financial
Services
—
11.5%
Cass
Information
Systems,
Inc.
169,027
7,388,170
Jack
Henry
&
Associates,
Inc.
39,329
6,827,121
Mastercard,
Inc.,
Class
a
A
12,986
7,483,962
Visa,
Inc.,
Class
a
A(a)
21,157
7,673,856
29,373,109
IT
Services
—
5.6%
Accenture
plc,
Class
a
A
19,007
6,623,939
International
Business
Machines
Corp.
30,572
7,717,596
14,341,535
Professional
Services
—
12.0%
Broadridge
Financial
Solutions,
Inc.
29,049
7,007,200
CSG
Systems
International,
Inc.
126,254
8,118,132
Genpact
Ltd.
148,991
7,929,301
SS&C
Technologies
Holdings,
Inc.
85,701
7,631,674
30,686,307
Semiconductors
&
Semiconductor
Equipment
—
29.6%
Analog
Devices,
Inc.
30,459
7,007,397
Applied
Materials,
Inc.
34,911
5,518,382
Broadcom,
Inc.
28,330
5,649,852
KLA
Corp.
8,841
6,266,854
Lam
Research
Corp.
81,984
6,291,452
Microchip
Technology,
Inc.
116,712
6,869,668
Monolithic
Power
Systems,
Inc.
9,900
6,048,999
Power
Integrations,
Inc.
108,457
6,594,186
QUALCOMM,
Inc.
40,092
6,301,260
Skyworks
Solutions,
Inc.
74,188
4,945,372
Texas
Instruments,
Inc.
34,636
6,788,310
Universal
Display
Corp.
46,073
7,077,734
75,359,466
Software
—
13.1%
Dolby
Laboratories,
Inc.,
Class
a
A
84,303
6,879,968
Intuit,
Inc.
11,157
6,848,613
Microsoft
Corp.
15,297
6,072,756
Oracle
Corp.
37,049
6,152,357
Investments
Shares
Value
Common
Stocks
(continued)
Roper
Technologies,
Inc.
12,769
$
7,463,480
33,417,174
Technology
Hardware,
Storage
&
Peripherals
—
5.4%
Apple,
Inc.
30,493
7,374,427
HP,
Inc.
206,015
6,359,683
13,734,110
Total
Common
Stocks
(Cost
$217,572,318)
254,438,472
Principal
Amount
Short-Term
Investments
—
0
.1
%
Repurchase
Agreements
(b)
—
0
.1
%
Repurchase
Agreements
with
various
counterparties,
rates
4.15%
-
4.36%,
dated
2/28/2025,
due
3/3/2025,
total
to
be
received
$212,820
(Cost
$212,744)
$
212,744
212,744
Total
Investments
—
99.9%
(Cost
$217,785,062)
254,651,216
Other
assets
less
liabilities
—
0.1%
244,594
Net
Assets
—
100.0%
$
254,895,810
(a)
The
security
or
a
portion
of
this
security
is
on
loan
at
February
28,
2025.
The
total
value
of
securities
on
loan
at
February
28,
2025
was
$2,968,781,
collateralized
in
the
form
of
U.S.
Government
Treasury
Securities,
interest
rates
ranging
from
0.00%
–
6.13%,
and
maturity
dates
ranging
from
March
15,
2025
–
May
15,
2054.
The
total
value
of
collateral
is
$2,971,536.
(b)
The
Fund
invests
in
Repurchase
Agreements
jointly
with
other
funds
in
the
Trust.
See
"Repurchase
Agreements"
in
the
Notes
to
Schedules
of
Portfolio
Investments
to
view
the
details
of
each
individual
agreement
and
counterparty
as
well
as
a
description
of
the
securities
subject
to
repurchase.
SMART
MATERIALS
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
150
TINT
::
Investments
Shares
Value
Common
Stocks
—
99.4%
Aerospace
&
Defense
—
4.9%
Hexcel
Corp.
1,149
$
72,812
Chemicals
—
43.8%
Akzo
Nobel
NV
1,115
68,844
Arkema
SA
825
67,952
Axalta
Coating
Systems
Ltd.*
2,040
73,868
Cabot
Corp.
657
56,502
Chemours
Co.
(The)
3,611
53,985
Hansol
Chemical
Co.
Ltd.
276
20,716
Ingevity
Corp.*
884
42,131
Nissan
Chemical
Corp.
2,125
60,968
OCI
Holdings
Co.
Ltd.
476
25,900
PPG
Industries,
Inc.
568
64,309
Sika
AG
(Registered)
253
64,080
Solvay
SA
1,729
56,480
655,735
Electrical
Equipment
—
5.1%
Mersen
SA
594
12,940
NIDEC
Corp.
3,515
62,683
75,623
Electronic
Equipment,
Instruments
&
Components
—
10.1%
Corning,
Inc.
1,553
77,883
LG
Display
Co.
Ltd.*
9,918
62,034
Solus
Advanced
Materials
Co.
Ltd.
1,707
10,875
150,792
Industrial
Conglomerates
—
6.0%
3M
Co.
576
89,349
Metals
&
Mining
—
2.7%
Constellium
SE,
Class
a
A*
3,570
40,627
Pharmaceuticals
—
8.7%
Merck
&
Co.,
Inc.
694
64,021
Pfizer,
Inc.
2,525
66,736
130,757
Semiconductors
&
Semiconductor
Equipment
—
18.1%
Applied
Materials,
Inc.
385
60,857
Ferrotec
Holdings
Corp.
1,146
17,776
First
Solar,
Inc.*
362
49,297
Himax
Technologies,
Inc.,
ADR
4,248
42,820
Innox
Advanced
Materials
Co.
Ltd.
492
9,534
Jusung
Engineering
Co.
Ltd.
890
20,229
LX
Semicon
Co.
Ltd.
395
16,201
Investments
Shares
Value
Common
Stocks
(continued)
Universal
Display
Corp.
357
$
54,842
271,556
Total
Common
Stocks
(Cost
$1,764,673)
1,487,251
Total
Investments
—
99.4%
(Cost
$1,764,673)
1,487,251
Other
assets
less
liabilities
—
0.6%
9,456
Net
Assets
—
100.0%
$
1,496,707
*
Non-income
producing
security.
Abbreviations
ADR
American
Depositary
Receipt
FEBRUARY
28,
2025
(Unaudited)
::
SMART
MATERIALS
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
151
TINT
::
Smart
Materials
ETF
invested,
as
a
percentage
of
net
assets,
in
the
following
countries
as
of
February
28,
2025:
United
States
58.1%
South
Korea
11.1%
Japan
9.4%
France
8.1%
Netherlands
4.6%
Switzerland
4.3%
Belgium
3.8%
Other
a
0.6%
100.0%
a
Includes
any
non-equity
securities
and
net
other
assets
(liabilities).
SUPPLY
CHAIN
LOGISTICS
ETF
::
FEBRUARY
28,
2025
(Unaudited)
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
152
SUPL
::
Investments
Shares
Value
Common
Stocks
—
99.0%
Air
Freight
&
Logistics
—
28.2%
CH
Robinson
Worldwide,
Inc.
267
$
27,132
Deutsche
Post
AG
1,184
46,292
Expeditors
International
of
Washington,
Inc.
316
37,086
FedEx
Corp.
159
41,801
GXO
Logistics,
Inc.*
266
10,486
InPost
SA*
508
8,742
J&T
Global
Express
Ltd.*
11,822
9,759
JD
Logistics,
Inc.*(a)
5,288
9,465
Mainfreight
Ltd.
187
7,302
Nippon
Express
Holdings,
Inc.
450
7,952
United
Parcel
Service,
Inc.,
Class
a
B
354
42,137
ZTO
Express
Cayman,
Inc.
979
18,845
266,999
Commercial
Services
&
Supplies
—
4.3%
Brambles
Ltd.
3,132
40,617
Ground
Transportation
—
46.0%
Aurizon
Holdings
Ltd.
3,949
7,964
Canadian
National
Railway
Co.
416
42,177
Canadian
Pacific
Kansas
City
Ltd.
590
45,956
CSX
Corp.
1,292
41,357
Full
Truck
Alliance
Co.
Ltd.,
ADR
1,975
23,186
JB
Hunt
Transport
Services,
Inc.
182
29,337
Knight-Swift
Transportation
Holdings,
Inc.,
Class
a
A
356
17,957
Landstar
System,
Inc.
79
12,545
Norfolk
Southern
Corp.
171
42,023
Old
Dominion
Freight
Line,
Inc.
219
38,653
Rumo
SA
2,768
7,959
RXO,
Inc.*
359
7,349
Saia,
Inc.*
60
24,566
TFI
International,
Inc.
181
16,414
Union
Pacific
Corp.
191
47,118
XPO,
Inc.*
259
31,847
436,408
Hotels,
Restaurants
&
Leisure
—
4.8%
Amadeus
IT
Group
SA
602
45,412
Marine
Transportation
—
15.7%
AP
Moller
-
Maersk
A/S,
Class
a
B
5
8,745
COSCO
SHIPPING
Holdings
Co.
Ltd.,
Class
a
H
6,402
9,401
Evergreen
Marine
Corp.
Taiwan
Ltd.
4,524
29,781
HMM
Co.
Ltd.
1,257
16,833
Kawasaki
Kisen
Kaisha
Ltd.(b)
1,268
18,371
Kuehne
+
Nagel
International
AG
(Registered)
107
24,601
Matson,
Inc.
74
10,661
Investments
Shares
Value
Common
Stocks
(continued)
SITC
International
Holdings
Co.
Ltd.
2,896
$
6,971
Wan
Hai
Lines
Ltd.
3,919
10,033
Yang
Ming
Marine
Transport
Corp.
5,373
11,937
147,334
Total
Common
Stocks
(Cost
$897,847)
936,770
Total
Investments
—
99.0%
(Cost
$897,847)
936,770
Other
assets
less
liabilities
—
1.0%
9,047
Net
Assets
—
100.0%
$
945,817
*
Non-income
producing
security.
(a)
Security
exempt
from
registration
pursuant
to
Regulation
S
under
the
Securities
Act
of
1933.
Regulation
S
applies
to
securities
offerings
that
are
made
outside
of
the
United
States
and
do
not
involve
direct
selling
efforts
in
the
United
States
and
as
such
may
have
restrictions
on
resale.
(b)
The
security
or
a
portion
of
this
security
is
on
loan
at
February
28,
2025.
The
total
value
of
securities
on
loan
at
February
28,
2025
was
$18,371,
collateralized
in
the
form
of
U.S.
Government
Treasury
Securities,
interest
rates
ranging
from
0.00%
–
6.25%,
and
maturity
dates
ranging
from
March
15,
2025
–
August
15,
2054.
The
total
value
of
collateral
is
$19,958.
FEBRUARY
28,
2025
(Unaudited)
::
SUPPLY
CHAIN
LOGISTICS
ETF
SCHEDULE
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
153
SUPL
::
Supply
Chain
Logistics
ETF
invested,
as
a
percentage
of
net
assets,
in
the
following
countries
as
of
February
28,
2025:
United
States
51.3%
Canada
11.0%
Taiwan
5.5%
Australia
5.1%
Germany
4.9%
Spain
4.8%
China
4.8%
Japan
2.8%
Switzerland
2.6%
South
Korea
1.8%
Hong
Kong
1.0%
Denmark
0.9%
Netherlands
0.9%
Brazil
0.8%
New
Zealand
0.8%
Other
a
1.0%
100.0%
a
Includes
any
non-equity
securities
and
net
other
assets
(liabilities).
154
::
FEBRUARY
28,
2025
(Unaudited)
::
NOTES
TO
SCHEDULES
OF
PORTFOLIO
INVESTMENTS
PROSHARES
TRUST
Repurchase
Agreements 
Each
of
the
Funds
may
enter
into
repurchase
agreements.
Repurchase
agreements
are
primarily
used
by
the
Funds
as
short-term
investments
for
cash
positions.
Under
a
repurchase
agreement,
a
Fund
purchases
one
or
more
debt
securities
and
simultaneously
agrees
to
sell
those
securities
back
to
the
seller
at
a
mutually
agreed-upon
future
price
and
date,
normally
one
day
or
a
few
days
later.
The
resale
price
is
greater
than
the
purchase
price,
reflecting
an
agreed-upon
market
interest
rate
during
the
purchaser’s
holding
period.
While
the
maturities
of
the
underlying
securities
in
repurchase
transactions
may
be
more
than
one
year,
the
term
of
each
repurchase
agreement
will
always
be
less
than
one
year.
The
Funds
follow
certain
procedures
designed
to
minimize
the
risks
inherent
in
such
agreements.
These
procedures
include
effecting
repurchase
transactions
generally
with
major
global
financial
institutions
whose
creditworthiness
is
monitored
by
the
Advisor.
In
addition,
the
value
of
the
collateral
underlying
the
repurchase
agreement
is
required
to
be
at
least
equal
to
the
repurchase
price,
including
any
accrued
interest
income
earned
on
the
repurchase
agreement.
The
Funds
may
invest
in
repurchase
agreements
through
joint
account
arrangements;
in
such
cases,
each
Fund
holds
a
pro
rata
share
of
the
collateral
and
interest
income
based
upon
the
dollar
amount
of
the
repurchase
agreements
entered
into
by
each
Fund.
The
collateral
underlying
the
repurchase
agreement
is
held
by
the
Fund’s
custodian.
A
repurchase
agreement
is
subject
to
the
risk
that
the
counterparty
to
the
repurchase
agreement
that
sells
the
securities
may
default
on
its
obligation
to
repurchase
them.
In
this
circumstance,
a
Fund
may
lose
money
because
it
may
not
be
able
to
sell
the
securities
at
the
agreed
upon
time
and
price,
the
securities
may
lose
value
before
they
can
be
sold,
the
selling
institution
may
declare
bankruptcy
or
the
Fund
may
have
difficulty
exercising
rights
to
the
collateral.
During
periods
of
high
demand
for
repurchase
agreements,
the
Funds
may
be
unable
to
invest
available
cash
in
these
instruments
to
the
extent
desired
by
the
Advisor. Repurchase
agreements
usually
are
for
short
periods,
such
as
one
week
or
less,
but
may
be
longer.
It
is
the
current
policy
of
each
Fund
not
to
invest
in
re-
purchase
agreements
that
do
not
mature
within
seven
days
if
any
such
investment,
together
with
any
other
illiquid
assets
held
by
the
Fund,
amounts
to
more
than
15%
of
Fund’s
total
net
assets.
The
investments
of
each
Fund
in
repurchase
agreements
at
times
may
be
substantial
when,
in
the
view
of
the
Advisor,
liquidity,
investment,
regulatory,
or
other
considerations
so
warrant.
On
February
28,
2025,
the
Funds
had
an
undivided interest
in
joint
repurchase
agreements
with
the
following
counterparties,
for
the
time
periods
and
rates
indicated.
Amounts
shown
in
the
table
below
represent
Principal
Amount,
Cost
and
Value
for
each
respective
repurchase
agreement. 
Fund
Name
A
Bank
of
America
Securities,
Inc.,
4.15%,
dated
02/28/2025
due
03/03/2025
(a)
Bank
of
America
Securities,
Inc.,
4.30%,
dated
02/28/2025
due
03/03/2025
(b)
Bank
of
America
Securities,
Inc.,
4.36%,
dated
02/28/2025
due
03/03/2025
(c)
Barclays
Capital,
Inc.,
4.25%,
dated
02/28/2025
due
03/03/2025
(d)
Barclays
Capital,
Inc.,
4.34%,
dated
02/28/2025
due
03/03/2025
(e)
ING
Financial
Markets
LLC,
4.35%,
dated
02/28/2025
due
03/03/2025
(f)
Total
Decline
of
the
Retail
Store
ETF
......
$
49,438
$
37,078
$
160,673
$
12,359
$
346,212
$
98,876
$
704,636
DJ
Brookfield
Global
Infrastructure
ETF
18,600
13,950
60,450
4,650
130,256
37,200
265,106
Equities
for
Rising
Rates
ETF
.......
598
448
1,941
149
4,183
1,195
8,514
Global
Listed
Private
Equity
ETF
.....
5,312
3,984
17,264
1,328
37,198
10,623
75,709
Hedge
Replication
ETF
...........
282,429
211,821
917,891
70,607
1,977,835
564,856
4,025,439
High
Yield-Interest
Rate
Hedged
.....
319,193
239,395
1,037,377
79,798
2,235,296
638,385
4,549,444
Inflation
Expectations
ETF
.........
1,549,683
1,162,263
5,036,472
387,421
10,852,383
3,099,367
22,087,589
Investment
Grade-Interest
Rate
Hedged
240,105
180,079
780,344
60,026
1,681,452
480,211
3,422,217
K-1
Free
Crude
Oil
ETF
...........
3,971,246
2,978,434
12,906,548
992,811
27,810,499
7,942,491
56,602,029
Large
Cap
Core
Plus
.............
1,728,748
1,296,560
5,618,428
432,187
12,106,357
3,457,494
24,639,774
Long
Online/Short
Stores
ETF
.......
47,075
35,307
152,997
11,769
329,670
94,152
670,970
Merger
ETF
...................
267,726
200,795
870,112
66,932
1,874,882
535,454
3,815,901
MSCI
EAFE
Dividend
Growers
ETF
...
8,472
6,353
27,531
2,118
59,323
16,942
120,739
MSCI
Emerging
Markets
Dividend
Growers
ETF
................
12,345
9,258
40,119
3,086
86,448
24,689
175,945
MSCI
Europe
Dividend
Growers
ETF
..
1,139
855
3,704
285
7,981
2,279
16,243
MSCI
Transformational
Changes
ETF
..
1,337
1,003
4,344
334
9,363
2,674
19,055
Nasdaq-100
Dorsey
Wright
Momentum
ETF
......................
737
553
2,396
184
5,162
1,474
10,506
Nasdaq-100
High
Income
ETF
......
587,270
440,452
1,908,627
146,817
4,112,629
1,174,539
8,370,334
Online
Retail
ETF
...............
2,762
2,072
8,974
690
19,336
5,522
39,356
Pet
Care
ETF
..................
16,039
12,029
52,127
4,010
112,323
32,079
228,607
Russell
2000
Dividend
Growers
ETF
...
94,314
70,735
306,520
23,578
660,475
188,627
1,344,249
Russell
2000
High
Income
ETF
......
220,861
165,645
717,796
55,215
1,546,677
441,721
3,147,915
Russell
U.S.
Dividend
Growers
ETF
...
687
515
2,234
172
4,811
1,374
9,793
NOTES
TO
SCHEDULES
OF
PORTFOLIO
INVESTMENTS
::
FEBRUARY
28,
2025
(Unaudited)
::
155
PROSHARES
TRUST
Each
Repurchase
Agreement
was
fully
collateralized
by
U.S.
government
and/or
agency
securities
at
February
28,
2025
as
follows:
Fund
Name
A
Bank
of
America
Securities,
Inc.,
4.15%,
dated
02/28/2025
due
03/03/2025
(a)
Bank
of
America
Securities,
Inc.,
4.30%,
dated
02/28/2025
due
03/03/2025
(b)
Bank
of
America
Securities,
Inc.,
4.36%,
dated
02/28/2025
due
03/03/2025
(c)
Barclays
Capital,
Inc.,
4.25%,
dated
02/28/2025
due
03/03/2025
(d)
Barclays
Capital,
Inc.,
4.34%,
dated
02/28/2025
due
03/03/2025
(e)
ING
Financial
Markets
LLC,
4.35%,
dated
02/28/2025
due
03/03/2025
(f)
Total
S&P
500
®
Dividend
Aristocrats
ETF
...
$
668,330
$
501,248
$
2,172,073
$
167,083
$
4,680,295
$
1,336,661
$
9,525,690
S&P
500
®
Ex-Energy
ETF
..........
4,451
3,338
14,469
1,113
31,176
8,904
63,451
S&P
500
®
Ex-Financials
ETF
........
5,136
3,853
16,695
1,284
35,973
10,274
73,215
S&P
500
®
Ex-Health
Care
ETF
.......
6,129
4,596
19,917
1,532
42,916
12,257
87,347
S&P
500
®
Ex-Technology
ETF
.......
10,641
7,982
34,587
2,661
74,528
21,285
151,684
S&P
500
®
High
Income
ETF
........
1,238,150
928,611
4,023,983
309,537
8,670,713
2,476,297
17,647,291
S&P
MidCap
400
®
Dividend
Aristocrats
ETF
......................
123,727
92,795
402,113
30,932
866,457
247,454
1,763,478
S&P
Technology
Dividend
Aristocrats
ETF
14,926
11,194
48,510
3,732
104,529
29,853
212,744
$
11,497,606
$
8,623,201
$
37,367,216
$
2,874,400
$
80,517,338
$
22,995,209
$
163,874,970
(a)
U.S.
Treasury
Notes,
3.88%
to
4.13%,
due
2/28/2027
to
8/15/2033,
which
had
an
aggregate
value
at
the
Trust
level
of
$204,000,042.
(b)
U.S.
Treasury
Bonds,
0%,
due
5/15/2051;
U.S.
Treasury
Notes,
3.5%,
due
2/15/2033,
which
had
an
aggregate
value
at
the
Trust
level
of
$153,000,004.
(c)
U.S.
Treasury
Notes,
1.25%
to
4.25%,
due
11/30/2026
to
11/15/2034,
which
had
an
aggregate
value
at
the
Trust
level
of
$663,000,085.
(d)
U.S.
Treasury
Notes,
3.5%
to
4.13%,
due
1/31/2028
to
3/31/2031,
which
had
an
aggregate
value
at
the
Trust
level
of
$51,000,088.
(e)
U.S.
Treasury
Bonds,
0%,
due
5/15/2025
to
11/15/2054;
U.S.
Treasury
Notes,
4.13%,
due
10/31/2031
to
2/29/2032,
which
had
an
aggregate
value
at
the
Trust
level
of
$1,428,605,231.
(f)
U.S.
Treasury
Bills,
0%,
due
3/18/2025
to
1/22/2026;
U.S.
Treasury
Bonds,
1.25%
to
4.75%,
due
2/15/2036
to
2/15/2055,
which
had
an
aggregate
value
at
the
Trust
level
of
$408,000,028.