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          <isin value="US4270965084"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Repurchase Agreement</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <transCat>Repurchase</transCat>
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      </invstOrSec>
      <invstOrSec>
        <name>Goldman Sachs BDC, Inc.</name>
        <lei>6D01AGSGBNZIJSN77043</lei>
        <title>Goldman Sachs BDC, Inc.</title>
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          <isin value="US38147U1079"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Repurchase Agreement</name>
        <lei>N/A</lei>
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              <counterpartyInfo lei="RCNB6OTYUAMMP879YW96" name="BNP Paribas Securities Corp."/>
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      <invstOrSec>
        <name>New Mountain Finance Corp.</name>
        <lei>549300L1MPTT1H7SES77</lei>
        <title>New Mountain Finance Corp.</title>
        <cusip>647551100</cusip>
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          <isin value="US6475511001"/>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Prospect Capital Corp.</name>
        <lei>549300FSD8T39P5Q0O47</lei>
        <title>Prospect Capital Corp.</title>
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          <isin value="US74348T1025"/>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FS KKR Capital Corp.</name>
        <lei>549300TYRSI1T21B1360</lei>
        <title>FS KKR Capital Corp.</title>
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          <isin value="US3026352068"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Repurchase Agreement</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <transCat>Repurchase</transCat>
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              <counterpartyInfo lei="B4TYDEB6GKMZO031MB27" name="BOFA SECURITIES, INC."/>
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      <invstOrSec>
        <name>Capital Southwest Corp.</name>
        <lei>54930023YZ4YEJEDBO56</lei>
        <title>Capital Southwest Corp.</title>
        <cusip>140501107</cusip>
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          <isin value="US1405011073"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Oakley Capital Investments Ltd.</name>
        <lei>213800KW6MZUK12CQ815</lei>
        <title>Oakley Capital Investments Ltd.</title>
        <cusip>N/A</cusip>
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          <isin value="BMG670131058"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Barings BDC, Inc.</name>
        <lei>549300GSF4KFZP6ONG49</lei>
        <title>Barings BDC, Inc.</title>
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          <isin value="US06759L1035"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HBM Healthcare Investments AG</name>
        <lei>549300IFDFSDRT4D3076</lei>
        <title>HBM Healthcare Investments AG, Class A</title>
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        <invCountry>CH</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>3i Group plc</name>
        <lei>35GDVHRBMFE7NWATNM84</lei>
        <title>3i Group plc</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Repurchase Agreement</name>
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        <title>Repurchase Agreement</title>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyInfo lei="RCNB6OTYUAMMP879YW96" name="BNP Paribas Securities Corp."/>
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      <invstOrSec>
        <name>HgCapital Trust plc</name>
        <lei>213800J7QUJJBEFSIN38</lei>
        <title>HgCapital Trust plc</title>
        <cusip>N/A</cusip>
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          <isin value="GB00BJ0LT190"/>
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      <invstOrSec>
        <name>Golub Capital BDC, Inc.</name>
        <lei>2549005WE0QLGK9APF78</lei>
        <title>Golub Capital BDC, Inc.</title>
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          <isin value="US38173M1027"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Repurchase Agreement</name>
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        <balance>13379.92000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>Repurchase Agreement</name>
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          <transCat>Repurchase</transCat>
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      <invstOrSec>
        <name>Partners Group Private Equity Ltd.</name>
        <lei>54930038LU8RDPFFVJ57</lei>
        <title>Partners Group Private Equity Ltd.</title>
        <cusip>N/A</cusip>
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          <isin value="GG00B28C2R28"/>
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        <issuerCat>RF</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Gimv NV</name>
        <lei>549300UFHGFY5IOON989</lei>
        <title>Gimv NV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BE0003699130"/>
        </identifiers>
        <balance>6065.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88070808"/>
        <valUSD>306105.11000000</valUSD>
        <pctVal>2.260985127333</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Oaktree Specialty Lending Corp.</name>
        <lei>549300J6MGCEU5928620</lei>
        <title>Oaktree Specialty Lending Corp.</title>
        <cusip>67401P405</cusip>
        <identifiers>
          <isin value="US67401P4054"/>
        </identifiers>
        <balance>15522.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>227086.86000000</valUSD>
        <pctVal>1.677332381262</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ares Capital Corp.</name>
        <lei>WEQ82666OJYSI5GUAB47</lei>
        <title>Ares Capital Corp.</title>
        <cusip>04010L103</cusip>
        <identifiers>
          <isin value="US04010L1035"/>
        </identifiers>
        <balance>62008.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1367276.40000000</valUSD>
        <pctVal>10.09911793159</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NB Private Equity Partners Ltd.</name>
        <lei>213800UJH93NH8IOFQ77</lei>
        <title>NB Private Equity Partners Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GG00B1ZBD492"/>
        </identifiers>
        <balance>9287.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74219764"/>
        <valUSD>177682.32000000</valUSD>
        <pctVal>1.312415473593</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Investment company"/>
        <issuerCat>RF</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INVESCO GOVT AND AGCY LEX</name>
        <lei>O37NHJVF7S22I1ONOU83</lei>
        <title>INVESCO GOVERNMENT &amp; AGENCY PORTFOLIO OPEN-END FUND USD</title>
        <cusip>825252885</cusip>
        <identifiers>
          <other otherDesc="Custodian Internal ID" value="825252885"/>
        </identifiers>
        <balance>1028688.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1028688.00000000</valUSD>
        <pctVal>7.598201378169</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="1028688.00000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sofina SA</name>
        <lei>5493000GMVR38VUO5D39</lei>
        <title>Sofina SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BE0003717312"/>
        </identifiers>
        <balance>795.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88070808"/>
        <valUSD>230003.56000000</valUSD>
        <pctVal>1.698876011556</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Eurazeo SE</name>
        <lei>969500C656AA39O94N60</lei>
        <title>Eurazeo SE</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0000121121"/>
        </identifiers>
        <balance>8484.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88070808"/>
        <valUSD>592920.86000000</valUSD>
        <pctVal>4.379493194824</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Compass Diversified Holdings</name>
        <lei>5299001SM1LBYANJRR58</lei>
        <title>Compass Diversified Holdings</title>
        <cusip>20451Q104</cusip>
        <identifiers>
          <isin value="US20451Q1040"/>
        </identifiers>
        <balance>14386.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>96673.92000000</valUSD>
        <pctVal>0.714062876379</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SLR Investment Corp.</name>
        <lei>BJOT6DX9ML6BR3Z0O636</lei>
        <title>SLR Investment Corp.</title>
        <cusip>83413U100</cusip>
        <identifiers>
          <isin value="US83413U1007"/>
        </identifiers>
        <balance>9789.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>164063.64000000</valUSD>
        <pctVal>1.211823775095</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sixth Street Specialty Lending, Inc.</name>
        <lei>549300TX61566GJWCN05</lei>
        <title>Sixth Street Specialty Lending, Inc.</title>
        <cusip>83012A109</cusip>
        <identifiers>
          <isin value="US83012A1097"/>
        </identifiers>
        <balance>20431.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>475837.99000000</valUSD>
        <pctVal>3.514683627497</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wendel SE</name>
        <lei>969500M98ZMIZYJD5O34</lei>
        <title>Wendel SE</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0000121204"/>
        </identifiers>
        <balance>5391.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88070808"/>
        <valUSD>524281.72000000</valUSD>
        <pctVal>3.872503701270</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Syncona Ltd.</name>
        <lei>213800X8MBI5VQITLW60</lei>
        <title>Syncona Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GG00B8P59C08"/>
        </identifiers>
        <balance>133554.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74219764"/>
        <valUSD>143955.19000000</valUSD>
        <pctVal>1.063296668234</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Investment company"/>
        <issuerCat>RF</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ratos AB</name>
        <lei>2138008KECUUB9VR4798</lei>
        <title>Ratos AB, Class B</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="SE0000111940"/>
        </identifiers>
        <balance>42696.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.58695000"/>
        <valUSD>172085.33000000</valUSD>
        <pctVal>1.271074408925</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kinnevik AB</name>
        <lei>2138006PZH76JOS6MN27</lei>
        <title>Kinnevik AB, Class B</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="SE0022060521"/>
        </identifiers>
        <balance>52059.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.58695000"/>
        <valUSD>442452.22000000</valUSD>
        <pctVal>3.268086210569</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Repurchase Agreement</name>
        <lei>N/A</lei>
        <title>Repurchase Agreement</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="CINS." value="250530680"/>
        </identifiers>
        <balance>23109.34000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>23109.34000000</valUSD>
        <pctVal>0.170692590014</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="254900OXTV81I73FAT50" name="CF SECURED, LLC"/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>N</isTriParty>
          <repurchaseRt>4.32000000</repurchaseRt>
          <maturityDt>2025-06-02</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>23109.34000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>23580.01360000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <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>
