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        <name>Nucor Corp.</name>
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        <name>Steel Dynamics, Inc.</name>
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        <name>Newmont Corp.</name>
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        <name>Sherwin-Williams Co. (The)</name>
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        <name>LyondellBasell Industries NV</name>
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        <name>International Paper Co.</name>
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        <name>United States of America</name>
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        <name>PPG Industries, Inc.</name>
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        <name>Ball Corp.</name>
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        <name>International Flavors &amp; Fragrances, Inc.</name>
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        <name>Avery Dennison Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>DuPont de Nemours, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Dow, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Amcor plc</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <name>CF Industries Holdings, Inc.</name>
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        <name>Martin Marietta Materials, Inc.</name>
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        <name>Ecolab, Inc.</name>
        <lei>82DYEISM090VG8LTLS26</lei>
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        <name>N/A</name>
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        <name>Albemarle Corp.</name>
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        <name>Mosaic Co. (The)</name>
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        <name>Eastman Chemical Co.</name>
        <lei>FDPVHDGJ1IQZFK9KH630</lei>
        <title>Eastman Chemical Co.</title>
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        <name>Packaging Corp. of America</name>
        <lei>549300XZP8MFZFY8TJ84</lei>
        <title>Packaging Corp. of America</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Smurfit WestRock plc</name>
        <lei>635400EGSEOPDW2EXS14</lei>
        <title>Smurfit WestRock plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="IE00028FXN24"/>
        </identifiers>
        <balance>15141.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>656059.53000000</valUSD>
        <pctVal>1.993964699212</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Linde plc</name>
        <lei>5299003QR1WT0EF88V51</lei>
        <title>Linde plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="IE000S9YS762"/>
        </identifiers>
        <balance>9366.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4379354.28000000</valUSD>
        <pctVal>13.31019128655</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Each Repurchase Agreement was fully collateralized which had an aggregate value at the Trust level." noteItem="C.10.f.iii"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-06-30</ncom:dateSigned>
      <ncom:nameOfApplicant>ProShares Trust</ncom:nameOfApplicant>
      <ncom:signature>Maria Clem Sell</ncom:signature>
      <ncom:signerName>Maria Clem Sell</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
