UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
| Investment Company Act file number | 811-08239 |
| |
| ProFunds |
| (Exact name of registrant as specified in charter) |
7501 Wisconsin Avenue, Suite 1000
Bethesda, MD | 20814 |
| (Address of principal executive offices) | (Zip code) |
| |
| Citi Fund Services Ohio, Inc., 4400 Easton Commons, Suite 200, Columbus, OH 43219 |
| (Name and address of agent for service) |
Registrant’s telephone number, including area code: (240) 497-6400
Date of fiscal year end:July 31
Date of reporting period:January 31, 2020
Item 1. Reports to Stockholders.
Semiannual Report
JANUARY 31, 2020
| | | Investor | | Service |
| Banks UltraSector ProFund | | BKPIX | | BKPSX |
| Basic Materials UltraSector ProFund | | BMPIX | | BMPSX |
| Bear ProFund | | BRPIX | | BRPSX |
| Biotechnology UltraSector ProFund | | BIPIX | | BIPSX |
| Bull ProFund | | BLPIX | | BLPSX |
| Communication Services UltraSector ProFund | | WCPIX | | WCPSX |
| Consumer Goods UltraSector ProFund | | CNPIX | | CNPSX |
| Consumer Services UltraSector ProFund | | CYPIX | | CYPSX |
| Europe 30 ProFund | | UEPIX | | UEPSX |
| Falling U.S. Dollar ProFund | | FDPIX | | FDPSX |
| Financials UltraSector ProFund | | FNPIX | | FNPSX |
| Health Care UltraSector ProFund | | HCPIX | | HCPSX |
| Industrials UltraSector ProFund | | IDPIX | | IDPSX |
| Internet UltraSector ProFund | | INPIX | | INPSX |
| Large-Cap Growth ProFund | | LGPIX | | LGPSX |
| Large-Cap Value ProFund | | LVPIX | | LVPSX |
| Mid-Cap ProFund | | MDPIX | | MDPSX |
| Mid-Cap Growth ProFund | | MGPIX | | MGPSX |
| Mid-Cap Value ProFund | | MLPIX | | MLPSX |
| Nasdaq-100 ProFund | | OTPIX | | OTPSX |
| Oil & Gas UltraSector ProFund | | ENPIX | | ENPSX |
| Oil Equipment & Services UltraSector ProFund | | OEPIX | | OEPSX |
| Pharmaceuticals UltraSector ProFund | | PHPIX | | PHPSX |
| Precious Metals UltraSector ProFund | | PMPIX | | PMPSX |
| Real Estate UltraSector ProFund | | REPIX | | REPSX |
| Rising Rates Opportunity ProFund | | RRPIX | | RRPSX |
| Rising Rates Opportunity 10 ProFund | | RTPIX | | RTPSX |
| Rising U.S. Dollar ProFund | | RDPIX | | RDPSX |
| Semiconductor UltraSector ProFund | | SMPIX | | SMPSX |
| | | Investor | | Service |
| Short Nasdaq-100 ProFund | | SOPIX | | SOPSX |
| Short Oil & Gas ProFund | | SNPIX | | SNPSX |
| Short Precious Metals ProFund | | SPPIX | | SPPSX |
| Short Real Estate ProFund | | SRPIX | | SRPSX |
| Short Small-Cap ProFund | | SHPIX | | SHPSX |
| Small-Cap ProFund | | SLPIX | | SLPSX |
| Small-Cap Growth ProFund | | SGPIX | | SGPSX |
| Small-Cap Value ProFund | | SVPIX | | SVPSX |
| Technology UltraSector ProFund | | TEPIX | | TEPSX |
| Telecommunications UltraSector ProFund | | TCPIX | | TCPSX |
| U.S. Government Plus ProFund | | GVPIX | | GVPSX |
| UltraBear ProFund | | URPIX | | URPSX |
| UltraBull ProFund | | ULPIX | | ULPSX |
| UltraChina ProFund | | UGPIX | | UGPSX |
| UltraDow 30 ProFund | | UDPIX | | UDPSX |
| UltraEmerging Markets ProFund | | UUPIX | | UUPSX |
| UltraInternational ProFund | | UNPIX | | UNPSX |
| UltraJapan ProFund | | UJPIX | | UJPSX |
| UltraLatin America ProFund | | UBPIX | | UBPSX |
| UltraMid-Cap ProFund | | UMPIX | | UMPSX |
| UltraNasdaq-100 ProFund | | UOPIX | | UOPSX |
| UltraShort China ProFund | | UHPIX | | UHPSX |
| UltraShort Dow 30 ProFund | | UWPIX | | UWPSX |
| UltraShort Emerging Markets ProFund | | UVPIX | | UVPSX |
| UltraShort International ProFund | | UXPIX | | UXPSX |
| UltraShort Japan ProFund | | UKPIX | | UKPSX |
| UltraShort Latin America ProFund | | UFPIX | | UFPSX |
| UltraShort Mid-Cap ProFund | | UIPIX | | UIPSX |
| UltraShort Nasdaq-100 ProFund | | USPIX | | USPSX |
| UltraShort Small-Cap ProFund | | UCPIX | | UCPSX |
| UltraSmall-Cap ProFund | | UAPIX | | UAPSX |
| Utilities UltraSector ProFund | | UTPIX | | UTPSX |
Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the Fund's annual and semi-annual shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports. Instead, the reports will be made available on the Fund's website (www.profunds.com), and you will be notified by mail each time a report is posted and provided with a website link to access the report.
If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from the Fund electronically anytime by contacting your financial intermediary (such as a broker-dealer or bank) or, if you are a direct investor, by calling 888-PRO-FNDS (888-776-3637) or by sending an e-mail request to info@profunds.com.
Beginning on January 1, 2019, you may elect to receive all future reports in paper free of charge. If you invest through a financial intermediary, you can contact your financial intermediary to request that you continue to receive paper copies of your shareholder reports. If you invest directly with the Fund, you can call 888-PRO-FNDS (888-776-3637) or send an email request to info@profunds.com to let the Fund know you wish to continue receiving paper copies of your shareholder reports.Your election to receive reports in paper will apply to all funds held in your account if you invest through your financial intermediary or all funds held with the fund complex if you invest directly with the Fund.
Table of Contents
| 1 | | Message from the Chairman |
| 3 | | Allocation of Portfolio Holdings and Index Composition |
| 25 | | Expense Examples |
| | | |
| | | Schedules of Portfolio Investments |
| 32 | | Banks UltraSector ProFund |
| 34 | | Basic Materials UltraSector ProFund |
| 36 | | Bear ProFund |
| 37 | | Biotechnology UltraSector ProFund |
| 39 | | Bull ProFund |
| 42 | | Communication Services UltraSector ProFund |
| 43 | | Consumer Goods UltraSector ProFund |
| 45 | | Consumer Services UltraSector ProFund |
| 48 | | Europe 30 ProFund |
| 49 | | Falling U.S. Dollar ProFund |
| 50 | | Financials UltraSector ProFund |
| 55 | | Health Care UltraSector ProFund |
| 58 | | Industrials UltraSector ProFund |
| 62 | | Internet UltraSector ProFund |
| 64 | | Large-Cap Growth ProFund |
| 69 | | Large-Cap Value ProFund |
| 75 | | Mid-Cap ProFund |
| 82 | | Mid-Cap Growth ProFund |
| 87 | | Mid-Cap Value ProFund |
| 92 | | Nasdaq-100 ProFund |
| 95 | | Oil & Gas UltraSector ProFund |
| 97 | | Oil Equipment & Services UltraSector ProFund |
| 99 | | Pharmaceuticals UltraSector ProFund |
| 101 | | Precious Metals UltraSector ProFund |
| 103 | | Real Estate UltraSector ProFund |
| 106 | | Rising Rates Opportunity ProFund |
| 107 | | Rising Rates Opportunity 10 ProFund |
| 108 | | Rising U.S. Dollar ProFund |
| 109 | | Semiconductor UltraSector ProFund |
| 111 | | Short Nasdaq-100 ProFund |
| 112 | | Short Oil & Gas ProFund |
| 113 | | Short Precious Metals ProFund |
| 114 | | Short Real Estate ProFund |
| 115 | | Short Small-Cap ProFund |
| 116 | | Small-Cap ProFund |
| 119 | | Small-Cap Growth ProFund |
| 125 | | Small-Cap Value ProFund |
| 132 | | Technology UltraSector ProFund |
| 136 | | Telecommunications UltraSector ProFund |
| 138 | | U.S. Government Plus ProFund |
| 139 | | UltraBear ProFund |
| 140 | | UltraBull ProFund |
| 143 | | UltraChina ProFund |
| 145 | | UltraDow 30 ProFund |
| 147 | | UltraEmerging Markets ProFund |
| 149 | | UltraInternational ProFund |
| 150 | | UltraJapan ProFund |
| 151 | | UltraLatin America ProFund |
| 153 | | UltraMid-Cap ProFund |
| 160 | | UltraNasdaq-100 ProFund |
| 163 | | UltraShort China ProFund |
| 164 | | UltraShort Dow 30 ProFund |
| 165 | | UltraShort Emerging Markets ProFund |
| 166 | | UltraShort International ProFund |
| 167 | | UltraShort Japan ProFund |
| 168 | | UltraShort Latin America ProFund |
| 169 | | UltraShort Mid-Cap ProFund |
| 170 | | UltraShort Nasdaq-100 ProFund |
| 171 | | UltraShort Small-Cap ProFund |
| 172 | | UltraSmall-Cap ProFund |
| 175 | | Utilities UltraSector ProFund |
| 177 | | Statements of Assets and Liabilities |
| 191 | | Statements of Operations |
| 205 | | Statements of Changes in Net Assets |
| 231 | | Financial Highlights |
| 263 | | Notes to Financial Statements |
| 297 | | Board Approval of Investment Advisory Agreement |
Receive investor materials electronically:
Shareholders may sign up for electronic delivery of investor materials. By doing so, you will receive the information faster and help us reduce the impact on the environment of providing these materials. To enroll in electronic delivery,
| 1. | Go to www.icsdelivery.com |
| 2. | Select the first letter of your brokerage firm's name. |
| 3. | From the list that follows, select your brokerage firm. If your brokerage firm is not listed, electronic delivery may not be available. Please contact your brokerage firm. |
| 4. | Complete the information requested, including the e-mail address where you would like to receive notifications for electronic documents. |
Your information will be kept confidential and will not be used for any purpose other than electronic delivery. If you change your mind, you can cancel electronic delivery at any time and revert to physical delivery of your materials. Just go to www.icsdelivery.com, perform the first three steps above, and follow the instructions for cancelling electronic delivery. If you have any questions, please contact your brokerage firm.
This Page Intentionally Left Blank
Message from the Chairman
Dear Shareholder:
I am pleased to present the ProFunds Semiannual Report to shareholders for the six months ended January 31, 2020.
U.S. Stocks Rallied Despite Concerns Early and Late
In August, trade tensions between the U.S. and China escalated sharply and data suggesting a slowdown in global economic growth led to a pullback in stock prices. In an effort to keep the U.S. economy on a healthy track, the Federal Reserve (Fed) cut interest rates in September and October. During the fourth quarter, better-than-expected economic data and easing trade frictions boosted investors' appetite for risk, and stock prices rebounded. Fourth quarter earnings of S&P 500 companies grew at an estimated rate of 0.9%, based on data reported by 87% of companies represented in the index, significantly better than the prior three quarters. On January 15 the U.S. and China signed a "Phase One" (partial) trade agreement, which included cutting U.S. tariffs on some Chinese products in exchange for some concessions from China. Although the S&P 500 rallied to a new record high in January, gains during the month were erased late in the month due to concerns about the potential economic impact of the coronavirus.
During the period, the tech-heavy Nasdaq-100 Index gained 15.16%, the S&P 500® Index advanced 9.31%, and the DJIA® (Dow®) Index rose 6.47%. The small-cap Russell 2000® Index gained 3.26%, and the S&P MidCap 400® advanced 2.95%.
Eight of the 10 Dow Jones U.S. Industry Indexes advanced with the three leading industry sectors being technology which rose 17.68%; utilities gained 16.24%; and telecom advanced 10.40%. The oil & gas and basic materials sectors posted negative returns, dropping 10.95% and 1.93%, respectively. Oil & gas stocks suffered a steep drop in January due to concerns that the coronavirus could reduce China's demand for oil. Separately, benefiting when tariff concerns intensified and rates dropped, the Dow Jones Precious Metals Index gained 19.56% and the Dow Jones U.S. Real Estate Index advanced 7.83%.
International Equity Markets Rose but Lagged Broader U.S. Indexes
Many of the economic, interest rate and tariff developments that impacted U.S. equities also affected international stocks. The MSCI All Country World Index ex-US rose 5.37% for the reporting period. The MSCI EAFE Index, which measures the performance of developed markets outside North America, returned 6.12%. The Nikkei 225 Index surged 9.07% over the six months driven in part by hopes that corporate earnings would improve, although concerns about the economic consequences of the coronavirus triggered a pullback in January. The MSCI Europe Index advanced 6.3%. European equities rose following upbeat manufacturing reports and news in September that the European Central Bank planned to restart its quantitative-easing program.
The BNY Mellon Emerging Markets Index returned 7.11% for the period. Chinese stocks, as measured by the BNY China Select ADR Index, rose 8.7% in reaction to new
stimulus, equity market reforms and receding trade worries late in the period, and despite concerns about weak economic growth and the coronavirus outbreak. The virus contagion spread into Latin American markets, which fell 4.89% over the period, as measured by the BNY Mellon Latin America Index.
Treasury Bonds Rose as Rates Dropped
Longer-term U.S. Treasury prices rose sharply in anticipation of the Fed's rate cuts and as a result of the "flight to quality" during August and late January 2020 when economic worries resurfaced. The Ryan Labs 10-Year and 30-year Treasury Indexes both rose 5.33% and 12.5%, respectively. Corporate bonds rallied ahead of rate cuts and as trade friction receded. The Markit iBoxx® $ Liquid Investment Grade Index rose 6.96% and the Markit iBoxx® $ Liquid High Yield Index advanced 3.19%. The broad Bloomberg Barclays U.S. Aggregate Bond Index rose 4.2%. The "safe haven" U.S. dollar fell to a six-month low in December as optimism about the U.S. economy grew, and the Bloomberg U.S. Dollar Spot lost 1.07% for the period.
The Fed Comments on Moderate Growth in the U.S.
In January, Fed Chair Jerome Powell stated growth in household spending "moderated" in late 2019, but fundamentals supporting it – namely a healthy job market, rising incomes and upbeat consumer confidence – were "solid." However, he cautioned that business investment and exports remained weak, manufacturing dropped over 2019, and sluggish growth and trade developments outside the U.S. weighed on economic activity. Powell also added that some signs suggest that global growth may be stabilizing, although, "uncertainties about the [economic] outlook remain." The Fed also released a statement signaling the central bank had no foreseeable plans to cut its federal funds rate to a target range of 1.50% to 1.75%, and it would take a wait-and-see approach by monitoring incoming information.
ProFunds Offers a Diverse Selection of Investment Choices
Whatever your view on these asset classes, our extensive lineup of funds provides strategies to help you manage risk and potentially enhance returns.
Thank you for choosing ProFunds. We appreciate your trust and confidence.
Sincerely,
Michael L. Sapir
Chairman of the Board of Trustees
Allocation of Portfolio Holdings and Index Composition
4 ::Allocation of Portfolio Holdings and Index Composition (unaudited)
Banks UltraSector ProFund
Investment Objective: The Banks Ultrasector ProFund seeks daily investment results, before fees and expenses, that correspond to one and one-half times (1.5x) the daily performance of the Dow Jones U.S. BanksSM Index.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 74 | % |
| Swap Agreements | | | 75 | % |
| Total Exposure | | | 149 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| JPMorgan Chase & Co. | | | 19.7 | % |
| Bank of America Corp. | | | 12.6 | % |
| Wells Fargo & Co. | | | 8.6 | % |
| Citigroup, Inc. | | | 7.7 | % |
| U.S. Bancorp | | | 3.6 | % |
Dow Jones U.S. BanksSMIndex – Composition
| | | % of Index | |
| Diversified Banks | | | 70 | % |
| Regional Banks | | | 29 | % |
| Thrifts & Mortgage Finance | | | 1 | % |
Basic Materials UltraSector ProFund
Investment Objective: The Basic Materials UltraSector ProFund seeks daily investment results, before fees and expenses, that correspond to one and one-half times (1.5x) the daily performance of the Dow Jones U.S. Basic MaterialsSM Index.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 82 | % |
| Swap Agreements | | | 68 | % |
| Total Exposure | | | 150 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Linde PLC | | | 15.1 | % |
| Air Products & Chemicals, Inc. | | | 7.3 | % |
| Ecolab, Inc. | | | 6.8 | % |
| DuPont de Nemours, Inc. | | | 5.2 | % |
| Newmont Corp. | | | 5.1 | % |
Dow Jones U.S. Basic MaterialsSMIndex – Composition
| | | % of Index | |
| Chemicals | | | 83 | % |
| Metals & Mining | | | 17 | % |
Bear ProFund
Investment Objective: The Bear ProFund seeks daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the daily performance of the S&P 500®.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Futures Contracts | | | (8 | )% |
| Swap Agreements | | | (93 | )% |
| Total Exposure | | | (101 | )% |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Holdings
The Bear ProFund primarily invests in non-equity securities, which may include: swap agreements, futures contracts, options, forward contracts, repurchase agreements and U.S. Government securities.
S&P 500®– Composition
| | | % of Index | |
| Information Technology | | | 24 | % |
| Health Care | | | 14 | % |
| Financials | | | 13 | % |
| Communication Services | | | 10 | % |
| Consumer Discretionary | | | 10 | % |
| Industrials | | | 9 | % |
| Consumer Staples | | | 7 | % |
| Energy | | | 4 | % |
| Utilities | | | 4 | % |
| Real Estate | | | 3 | % |
| Materials | | | 2 | % |
Allocation of Portfolio Holdings and Index Composition (unaudited):: 5
Biotechnology UltraSector ProFund
Investment Objective:The Biotechnology UltraSector ProFund seeks daily investment results, before fees and expenses, that correspond to one and one-half times (1.5x) the daily performance of the Dow Jones U.S. BiotechnologySM Index.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 80 | % |
| Swap Agreements | | | 70 | % |
| Total Exposure | | | 150 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Amgen, Inc. | | | 13.2 | % |
| AbbVie, Inc. | | | 12.3 | % |
| Gilead Sciences, Inc. | | | 8.2 | % |
| Vertex Pharmaceuticals, Inc. | | | 6.0 | % |
| Biogen, Inc. | | | 5.0 | % |
Dow Jones U.S. BiotechnologySMIndex – Composition
| | | % of Index | |
| Biotechnology | | | 81 | % |
| Life Sciences Tools & Services | | | 19 | % |
Bull ProFund
Investment Objective:The Bull ProFund seeks investment results, before fees and expenses, that correspond to the performance of the S&P 500®.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 71 | % |
| Futures Contracts | | | 14 | % |
| Swap Agreements | | | 14 | % |
| Total Exposure | | | 99 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Microsoft Corp. | | | 3.5 | % |
| Apple, Inc. | | | 3.5 | % |
| Alphabet, Inc. | | | 2.3 | % |
| Amazon.com, Inc. | | | 2.2 | % |
| Facebook, Inc. | | | 1.3 | % |
S&P 500®– Composition
| | | % of Index | |
| Information Technology | | | 24 | % |
| Health Care | | | 14 | % |
| Financials | | | 13 | % |
| Communication Services | | | 10 | % |
| Consumer Discretionary | | | 10 | % |
| Industrials | | | 9 | % |
| Consumer Staples | | | 7 | % |
| Energy | | | 4 | % |
| Utilities | | | 4 | % |
| Real Estate | | | 3 | % |
| Materials | | | 2 | % |
Communication Services UltraSector ProFund
Investment Objective:The Communication Services UltraSector ProFund seeks daily investment results, before fees and expenses, that correspond to one and one-half times (1.5x) the daily performance of the S&P Communication Services Select SectorSM Index.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 78 | % |
| Swap Agreements | | | 71 | % |
| Total Exposure | | | 149 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Alphabet, Inc. | | | 18.7 | % |
| Facebook, Inc. | | | 14.9 | % |
| Netflix, Inc. | | | 4.0 | % |
| Charter Communications, Inc. | | | 3.7 | % |
| Activision Blizzard, Inc. | | | 3.4 | % |
S&P Communication Services Select SectorSM Index – Composition
| | | % of Index | |
| Communication Services | | | 100 | % |
6 ::Allocation of Portfolio Holdings and Index Composition (unaudited)
Consumer Goods UltraSector ProFund
Investment Objective:The Consumer Goods UltraSector ProFund seeks daily investment results, before fees and expenses, that correspond to one and one-half times (1.5x) the daily performance of ther Dow Jones U.S. Consumer GoodsSM Index.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 79 | % |
| Swap Agreements | | | 72 | % |
| Total Exposure | | | 151 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| The Procter & Gamble Co. | | | 10.3 | % |
| The Coca-Cola Co. | | | 7.5 | % |
| PepsiCo, Inc. | | | 6.6 | % |
| Philip Morris International, Inc. | | | 4.3 | % |
| NIKE, Inc. | | | 4.0 | % |
Dow Jones U.S. Consumer GoodsSM Index – Composition
| | | % of Index | |
| Food, Beverage & Tobacco | | | 45 | % |
| Household & Personal Products | | | 22 | % |
| Consumer Durables & Apparel | | | 16 | % |
| Automobiles & Components | | | 10 | % |
| Media & Entertainment | | | 4 | % |
| Capital Goods | | | 1 | % |
| Retailing | | | 1 | % |
| Food & Staples Retailing | | | 1 | % |
Consumer Services UltraSector ProFund
Investment Objective:The Consumer Services UltraSector ProFund seeks daily investment results, before fees and expenses, that correspond to one and one-half times (1.5x) the daily performance of the Dow Jones U.S. Consumer ServicesSM Index.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 80 | % |
| Swap Agreements | | | 70 | % |
| Total Exposure | | | 150 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Amazon.com, Inc. | | | 17.0 | % |
| The Walt Disney Co. | | | 5.1 | % |
| The Home Depot, Inc. | | | 5.1 | % |
| Comcast Corp. | | | 4.0 | % |
| Walmart, Inc. | | | 3.3 | % |
Dow Jones U.S. Consumer ServicesSM Index – Composition
| | | % of Index | |
| Retailing | | | 45 | % |
| Media & Entertainment | | | 23 | % |
| Consumer Services | | | 16 | % |
| Food & Staples Retailing | | | 10 | % |
| Transportation | | | 3 | % |
| Commercial & Professional Services | | | 2 | % |
| Health Care Equipment & Services | | | 1 | % |
Europe 30 ProFund
Investment Objective:The Europe 30 ProFund seeks investment results, before fees and expenses, that correspond to the performance of the ProFunds Europe 30 Index®.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 100 | % |
| Total Exposure | | | 100 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Royal Dutch Shell PLC | | | 5.9 | % |
| S.A.P. SE | | | 5.0 | % |
| Unilever N.V. | | | 5.0 | % |
| Anheuser-Busch InBev N.V. | | | 4.8 | % |
| HSBC Holdings PLC | | | 4.7 | % |
ProFunds Europe 30® Index
| Industry Breakdown | | % of Index | |
| Health Care | | | 24 | % |
| Energy | | | 19 | % |
| Consumer Staples | | | 17 | % |
| Information Technology | | | 14 | % |
| Financials | | | 13 | % |
| Materials | | | 5 | % |
| Communication Services | | | 3 | % |
| Utilities | | | 3 | % |
| Industrials | | | 2 | % |
| Country Composition | | | | |
| United Kingdom | | | 43 | % |
| Netherlands | | | 13 | % |
| France | | | 8 | % |
| Belgium | | | 7 | % |
| Other | | | 29 | % |
Allocation of Portfolio Holdings and Index Composition (unaudited):: 7
Falling U.S. Dollar ProFund
Investment Objective:The Falling U.S. Dollar ProFund seeks investment results, before fees and expenses, that correspond to the daily performance of the basket of currencies included in the U.S. Dollar Index.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Forward Currency Contracts | | | (100 | )% |
| Total Exposure | | | (100 | )% |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Holdings
The Falling U.S. Dollar ProFund primarily invests in non-equity securities, which may include: swap agreements, futures contracts, options, forward contracts, repurchase agreements and U.S. Government securities.
U.S. Dollar Index – Composition
| | | % of Index | |
| Euro | | | 57 | % |
| Japanese yen | | | 14 | % |
| British pound | | | 12 | % |
| Canadian dollar | | | 9 | % |
| Swedish krona | | | 4 | % |
| Swiss franc | | | 4 | % |
Financials UltraSector ProFund
Investment Objective:The Financials UltraSector ProFund seeks daily investment results, before fees and expenses, that correspond to one and one-half times (1.5x) the daily performance of the Dow Jones U.S. FinancialsSM Index.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 76 | % |
| Swap Agreements | | | 74 | % |
| Total Exposure | | | 150 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Berkshire Hathaway, Inc. | | | 5.6 | % |
| Visa, Inc. | | | 5.3 | % |
| JPMorgan Chase & Co. | | | 5.3 | % |
| MasterCard, Inc. | | | 4.4 | % |
| Bank of America Corp. | | | 4.2 | % |
Dow Jones U.S. FinancialsSMIndex – Composition
| | | % of Index | |
| Diversified Financials | | | 27 | % |
| Banks | | | 27 | % |
| Real Estate | | | 21 | % |
| Insurance | | | 14 | % |
| Software & Services | | | 11 | % |
Health Care UltraSector ProFund
Investment Objective:The Health Care UltraSector ProFund seeks daily investment results, before fees and expenses, that correspond to one and one-half times (1.5x) the daily performance of the Dow Jones U.S. Health CareSM Index.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 76 | % |
| Swap Agreements | | | 74 | % |
| Total Exposure | | | 150 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Johnson & Johnson | | | 7.4 | % |
| UnitedHealth Group, Inc. | | | 4.9 | % |
| Merck & Co., Inc. | | | 4.1 | % |
| Pfizer, Inc. | | | 3.9 | % |
| Medtronic PLC | | | 2.9 | % |
Dow Jones U.S. Health CareSMIndex – Composition
| | | % of Index | |
| Pharmaceuticals | | | 32 | % |
| Health Care Equipment & Supplies | | | 26 | % |
| Health Care Providers & Services | | | 18 | % |
| Biotechnology | | | 16 | % |
| Life Sciences Tools & Services | | | 8 | % |
8 ::Allocation of Portfolio Holdings and Index Composition (unaudited)
Industrials UltraSector ProFund
Investment Objective:the Industrials UltraSector ProFund seeks daily investment results, before fees and expenses, that correspond to one and one-half times (1.5x) the daily performance of the Dow Jones U.S. IndustrialsSM Index.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 78 | % |
| Swap Agreements | | | 72 | % |
| Total Exposure | | | 150 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| The Boeing Co. | | | 3.5 | % |
| PayPal Holdings, Inc. | | | 2.8 | % |
| Accenture PLC | | | 2.7 | % |
| Union Pacific Corp. | | | 2.6 | % |
| Honeywell International, Inc. | | | 2.6 | % |
Dow Jones U.S. IndustrialsSMIndex – Composition
| | | % of Index | |
| Capital Goods | | | 52 | % |
| Software & Services | | | 19 | % |
| Transportation | | | 12 | % |
| Materials | | | 6 | % |
| Commercial & Professional Services | | | 6 | % |
| Technology Hardware & Equipment | | | 5 | % |
Internet UltraSector ProFund
Investment Objective:The Internet UltraSector ProFund seeks daily investment results, before fees and expenses, that correspond to one and one-half (1.5x) the daily performance of the Dow Jones Internet CompositeSM Index.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 79 | % |
| Swap Agreements | | | 71 | % |
| Total Exposure | | | 150 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Amazon.com, Inc. | | | 7.4 | % |
| Alphabet, Inc. | | | 7.1 | % |
| Facebook, Inc. | | | 5.5 | % |
| Cisco Systems, Inc. | | | 4.1 | % |
| Salesforce.com, Inc. | | | 4.1 | % |
Dow Jones Internet CompositeSMIndex – Composition
| | | % of Index | |
| Interactive Media & Services | | | 22 | % |
| Software | | | 22 | % |
| Internet & Direct Marketing Retail | | | 18 | % |
| IT Services | | | 14 | % |
| Communications Equipment | | | 12 | % |
| Entertainment | | | 5 | % |
| Capital Markets | | | 4 | % |
| Health Care Technology | | | 2 | % |
| Diversified Telecommunication Services | | | 1 | % |
Large-Cap Growth ProFund
Investment Objective:The Large-Cap Growth ProFund seeks investment results, before fees and expenses, that correspond to the performance of the S&P 500® Growth Index.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 100 | % |
| Total Exposure | | | 100 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Microsoft Corp. | | | 9.1 | % |
| Apple, Inc. | | | 9.0 | % |
| Amazon.com, Inc. | | | 5.9 | % |
| Alphabet, Inc. | | | 4.9 | % |
| Facebook, Inc. | | | 3.4 | % |
S&P 500® Growth Index – Composition
| | | % of Index | |
| Information Technology | | | 38 | % |
| Consumer Discretionary | | | 14 | % |
| Communication Services | | | 13 | % |
| Health Care | | | 10 | % |
| Industrials | | | 8 | % |
| Financials | | | 5 | % |
| Consumer Staples | | | 5 | % |
| Real Estate | | | 3 | % |
| Materials | | | 2 | % |
| Energy | | | 1 | % |
| Utilities | | | 1 | % |
Allocation of Portfolio Holdings and Index Composition (unaudited):: 9
Large-Cap Value ProFund
Investment Objective:The Large-Cap Value ProFund seeks investment results, before fees and expenses, that correspond to the performance of the S&P 500® Value Index.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 100 | % |
| Total Exposure | | | 100 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Berkshire Hathaway, Inc. | | | 3.6 | % |
| AT&T, Inc. | | | 2.2 | % |
| Bank of America Corp. | | | 2.2 | % |
| Exxon Mobil Corp. | | | 2.1 | % |
| UnitedHealth Group, Inc. | | | 2.1 | % |
S&P 500® Value Index – Composition
| | | % of Index | |
| Financials | | | 21 | % |
| Health Care | | | 18 | % |
| Industrials | | | 10 | % |
| Consumer Staples | | | 10 | % |
| Information Technology | | | 8 | % |
| Communication Services | | | 8 | % |
| Energy | | | 7 | % |
| Utilities | | | 7 | % |
| Consumer Discretionary | | | 5 | % |
| Real Estate | | | 3 | % |
| Materials | | | 3 | % |
Mid-Cap ProFund
Investment Objective:The Mid-Cap ProFund seeks investment results, before fees and expenses, that correspond to the performance of the S&P MidCap 400®.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 67 | % |
| Futures Contracts | | | 12 | % |
| Swap Agreements | | | 22 | % |
| Total Exposure | | | 101 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Teledyne Technologies, Inc. | | | 0.5 | % |
| Tyler Technologies, Inc. | | | 0.5 | % |
| Fair Isaac Corp. | | | 0.4 | % |
| Domino's Pizza, Inc. | | | 0.4 | % |
| West Pharmaceutical Services, Inc. | | | 0.4 | % |
S&P MidCap 400® – Composition
| | | % of Index | |
| Financials | | | 16 | % |
| Information Technology | | | 16 | % |
| Industrials | | | 15 | % |
| Consumer Discretionary | | | 14 | % |
| Real Estate | | | 11 | % |
| Health Care | | | 10 | % |
| Materials | | | 6 | % |
| Utilities | | | 5 | % |
| Consumer Staples | | | 3 | % |
| Communication Services | | | 2 | % |
| Energy | | | 2 | % |
Mid-Cap Growth ProFund
Investment Objective:The Mid-Cap Growth ProFund seeks investment results, before fees and expenses, that correspond to the performance of the S&P MidCap 400® Growth Index.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 100 | % |
| Total Exposure | | | 100 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Teledyne Technologies, Inc. | | | 1.4 | % |
| Tyler Technologies, Inc. | | | 1.3 | % |
| Fair Isaac Corp. | | | 1.2 | % |
| West Pharmaceutical Services, Inc. | | | 1.2 | % |
| Domino's Pizza, Inc. | | | 1.2 | % |
S&P MidCap 400® Growth Index – Composition
| | | % of Index | |
| Information Technology | | | 20 | % |
| Industrials | | | 18 | % |
| Consumer Discretionary | | | 16 | % |
| Health Care | | | 14 | % |
| Real Estate | | | 10 | % |
| Financials | | | 9 | % |
| Materials | | | 6 | % |
| Utilities | | | 2 | % |
| Consumer Staples | | | 2 | % |
| Communication Services | | | 2 | % |
| Energy | | | 1 | % |
10 ::Allocation of Portfolio Holdings and Index Composition (unaudited)
Mid-Cap Value ProFund
Investment Objective:The Mid-Cap Value ProFund seeks investment results, before fees and expenses, that correspond to the performance of the S&P Mid-Cap 400® Value Index.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 100 | % |
| Total Exposure | | | 100 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Medical Properties Trust, Inc. | | | 1.4 | % |
| OGE Energy Corp. | | | 1.1 | % |
| Reinsurance Group of America, Inc. | | | 1.1 | % |
| UGI Corp. | | | 1.0 | % |
| XPO Logistics, Inc. | | | 1.0 | % |
S&P MidCap 400® Value Index – Composition
| | | % of Index | |
| Financials | | | 26 | % |
| Industrials | | | 13 | % |
| Real Estate | | | 13 | % |
| Consumer Discretionary | | | 12 | % |
| Information Technology | | | 9 | % |
| Utilities | | | 8 | % |
| Materials | | | 6 | % |
| Health Care | | | 5 | % |
| Consumer Staples | | | 3 | % |
| Energy | | | 3 | % |
| Communication Services | | | 2 | % |
Nasdaq-100 ProFund
Investment Objective:The Nasdaq-100 ProFund seeks investment results, before fees and expenses, that correspond to the performance of the Nasdaq-100® Index.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 66 | % |
| Futures Contracts | | | 13 | % |
| Swap Agreements | | | 20 | % |
| Total Exposure | | | 99 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net
Assets | |
| Apple, Inc. | | | 7.9 | % |
| Microsoft Corp. | | | 7.5 | % |
| Amazon.com, Inc. | | | 5.7 | % |
| Alphabet, Inc. | | | 5.7 | % |
| Facebook, Inc. | | | 2.8 | % |
Nasdaq-100® Index – Composition
| | | % of Index | |
| Information Technology | | | 47 | % |
| Communication Services | | | 21 | % |
| Consumer Discretionary | | | 15 | % |
| Health Care | | | 7 | % |
| Consumer Staples | | | 6 | % |
| Industrials | | | 3 | % |
| Utilities | | | 1 | % |
Oil & Gas UltraSector ProFund
Investment Objective:The Oil & Gas UltraSector ProFund seeks daily investment results, before fees and expenses, that correspond to one and one-half times (1.5x) the daily performance of the Dow Jones U.S. Oil & GasSM Index.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 75 | % |
| Swap Agreements | | | 75 | % |
| Total Exposure | | | 150 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Exxon Mobil Corp. | | | 17.8 | % |
| Chevron Corp. | | | 13.7 | % |
| ConocoPhillips | | | 4.4 | % |
| Schlumberger, Ltd. | | | 3.1 | % |
| EOG Resources, Inc. | | | 2.9 | % |
Dow Jones U.S. Oil & GasSMIndex – Composition
| | | % of Index | |
| Oil, Gas & Consumable Fuels | | | 89 | % |
| Energy Equipment & Services | | | 10 | % |
| Electric Utilities | | | 1 | % |
Allocation of Portfolio Holdings and Index Composition (unaudited):: 11
Oil Equipment & Services UltraSector ProFund
Investment Objective:the Oil Equipment & Services UltraSector ProFund seeks daily investment results, before fees and expenses, that correspond to one and one-half times (1.5x) the daily performance of the Dow Jones U.S. Select Oil Equipment & ServicesSM Index.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 85 | % |
| Swap Agreements | | | 64 | % |
| Total Exposure | | | 149 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Schlumberger, Ltd. | | | 18.9 | % |
| Halliburton Co. | | | 17.1 | % |
| Helmerich & Payne, Inc. | | | 4.2 | % |
| Baker Hughes Co. | | | 4.1 | % |
| National Oilwell Varco, Inc. | | | 3.8 | % |
Dow Jones U.S. Select Oil Equipment & ServicesSM Index – Composition
| | | % of Index | |
| Oil & Gas Equipment & Services | | | 84 | % |
| Oil & Gas Drilling | | | 16 | % |
Pharmaceuticals UltraSector ProFund
Investment Objective:The Pharmaceuticals UltraSector ProFund seeks daily investment results, before fees and expenses, that correspond to one and one-half times (1.5x) the daily performance of the Dow Jones U.S. Select PharmaceuticalsSM Index.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 83 | % |
| Swap Agreements | | | 67 | % |
| Total Exposure | | | 150 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Johnson & Johnson | | | 18.9 | % |
| Merck & Co., Inc. | | | 15.0 | % |
| Eli Lilly & Co. | | | 4.1 | % |
| Zoetis, Inc. | | | 3.9 | % |
| Elanco Animal Health, Inc. | | | 3.8 | % |
Dow Jones U.S. Select PharmaceuticalsSM Index – Composition
| | | % of Index | |
| Pharmaceuticals | | | 97 | % |
| Biotechnology | | | 3 | % |
Precious Metals UltraSector ProFund
Investment Objective:The Precious Metals UltraSector ProFund seeks daily investment results, before fees and expenses, that correspond to one and one-half times (1.5x) the daily performance of the Dow Jones Precious MetalsSM Index.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 77 | % |
| Swap Agreements | | | 73 | % |
| Total Exposure | | | 150 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Newmont Corp. | | | 14.4 | % |
| Barrick Gold Corp | | | 12.8 | % |
| Franco-Nevada Corp | | | 8.4 | % |
| Agnico Eagle Mines, Ltd. | | | 5.8 | % |
| Wheaton Precious Metals Corp. | | | 5.1 | % |
Dow Jones Precious MetalsSMIndex – Composition
| | | % of Index | |
| Gold | | | 89 | % |
| Silver | | | 11 | % |
12 ::Allocation of Portfolio Holdings and Index Composition (unaudited)
Real Estate UltraSector ProFund
Investment Objective:The Real Estate UltraSector ProFund seeks daily investment results, before fees and expenses, that correspond to one and one-half times (1.5x) the daily performance of the Dow Jones U.S. Real EstateSM Index.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 72 | % |
| Swap Agreements | | | 78 | % |
| Total Exposure | | | 150 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| American Tower Corp. | | | 5.8 | % |
| Crown Castle International Corp. | | | 3.5 | % |
| Prologis, Inc. | | | 3.3 | % |
| Equinix, Inc. | | | 2.8 | % |
| Simon Property Group, Inc. | | | 2.3 | % |
Dow Jones U.S. Real EstateSM
Index – Composition
| | | % of Index | |
| Equity Real Estate Investment Trusts (REITs) | | | 91 | % |
| Mortgage Real Estate Investment Trusts (REITs) | | | 4 | % |
| Real Estate Management & Development | | | 3 | % |
| Professional Services | | | 2 | % |
Rising Rates Opportunity ProFund
Investment Objective:The Rising Rates Opportunity ProFund seeks daily investment results, before fees and expenses, that correspond to one and one-quarter times the inverse (-1.25x) of the daily movement of the most recently issued 30-year U.S. Treasury Bond.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Swap Agreements | | | (124 | )% |
| Total Exposure | | | (124 | )% |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Holdings
The Rising Rates Opportunity ProFund primarily invests in non-equity securities, which may include: swap agreements, futures contracts, options, forward contracts, repurchase agreements and U.S. Government securities.
Rising Rates Opportunity 10 ProFund
Investment Objective:The Rising Rates Opportunity 10 ProFund seeks daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the daily movement of the most recently issued 10-year U.S. Treasury Note.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Swap Agreements | | | (100 | )% |
| Total Exposure | | | (100 | )% |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Holdings
The Rising Rates Opportunity 10 ProFund primarily invests in non-equity securities, which may include: swap agreements, futures contracts, options, forward contracts, repurchase agreements and U.S. Government securities.
Allocation of Portfolio Holdings and Index Composition (unaudited):: 13
Rising U.S. Dollar ProFund
Investment Objective:The Rising U.S. Dollar ProFund seeks daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the daily performance of the basket of currencies included in the U.S. Dollar Index.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | | % of Net Assets | |
| Forward Currency Contracts | | | — | % |
| Total Exposure | | | — | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Holdings
The Rising U.S. Dollar ProFund primarily invests in non-equity securities, which may include: swap agreements, futures contracts, options, forward contracts, repurchase agreements and U.S. Government securities.
U.S. Dollar Index – Composition
| | | % of Index | |
| Euro | | | 57 | % |
| Japanese yen | | | 14 | % |
| British pound | | | 12 | % |
| Canadian dollar | | | 9 | % |
| Swedish krona | | | 4 | % |
| Swiss franc | | | 4 | % |
Semiconductor UltraSector ProFund
Investment Objective:The Semiconductor UltraSector ProFund seeks daily investment results, before fees and expenses, that correspond to one and one-half times (1.5x) the daily performance of the Dow Jones U.S. Semiconductors Index.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 75 | % |
| Swap Agreements | | | 75 | % |
| Total Exposure | | | 150 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Intel Corp. | | | 17.3 | % |
| NVIDIA Corp. | | | 9.0 | % |
| Broadcom, Inc. | | | 7.5 | % |
| Texas Instruments, Inc. | | | 7.0 | % |
| Qualcomm, Inc. | | | 6.1 | % |
Dow Jones U.S. SemiconductorsSM Index – Composition
| | | % of Index | |
| Semiconductors & Semiconductor Equipment | | | 100 | % |
Short Nasdaq-100 ProFund
Investment Objective:The Short Nasdaq-100 ProFund seeks daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the daily performance of the Nasdaq-100® Index.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Futures Contracts | | | (11 | )% |
| Swap Agreements | | | (90 | )% |
| Total Exposure | | | (101 | )% |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Holdings
The Short Nasdaq-100 ProFund primarily invests in non-equity securities, which may include: swap agreements, futures contracts, options, forward contracts, repurchase agreements and U.S. Government securities
Nasdaq-100® Index – Composition
| | | % of Index | |
| Information Technology | | | 47 | % |
| Communication Services | | | 21 | % |
| Consumer Discretionary | | | 15 | % |
| Health Care | | | 7 | % |
| Consumer Staples | | | 6 | % |
| Industrials | | | 3 | % |
| Utilities | | | 1 | % |
14 ::Allocation of Portfolio Holdings and Index Composition (unaudited)
Short Oil & Gas ProFund
Investment Objective:The Short Oil & Gas ProFund seeks daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the daily performance of the Dow Jones U.S. Oil & GasSM Index.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Swap Agreements | | | (101 | )% |
| Total Exposure | | | (101 | )% |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Holdings
The Short Oil & Gas ProFund primarily invests in non-equity securities, which may include: swap agreements, futures contracts, options, forward contracts, repurchase agreements and U.S. Government securities.
Dow Jones U.S. Oil & GasSMIndex – Composition
| | | % of Index | |
| Oil, Gas & Consumable Fuels | | | 89 | % |
| Energy Equipment & Services | | | 10 | % |
| Electric Utilities | | | 1 | % |
Short Precious Metals ProFund
Investment Objective:The Short Precious Metals ProFund seeks daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the dialy performance of the Dow Jones Precious MetalsSM Index.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Swap Agreements | | | (102 | )% |
| Total Exposure | | | (102 | )% |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Holdings
The Short Precious Metals ProFund primarily invests in non-equity securities, which may include: swap agreements, futures contracts, options, forward contracts, repurchase agreements and U.S. Government securities.
Dow Jones Precious MetalsSMIndex – Composition
| | | % of Index | |
| Gold | | | 89 | % |
| Silver | | | 11 | % |
Short Real Estate ProFund
Investment Objective:The Short Real Estate ProFund seeks daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the daily performance of the Dow Jones U.S. Real EstateSM Index.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Swap Agreements | | | (100 | )% |
| Total Exposure | | | (100 | )% |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Holdings
The Short Real Estate ProFund primarily invests in non-equity securities, which may include: swap agreements, futures contracts, options, forward contracts, repurchase agreements and U.S. Government securities.
Dow Jones U.S. Real EstateSMIndex – Composition
| | | % of Index | |
| Equity Real Estate Investment Trusts (REITs) | | | 91 | % |
| Mortgage Real Estate Investment Trusts (REITs) | | | 4 | % |
| Real Estate Management & Development | | | 3 | % |
| Professional Services | | | 2 | % |
Allocation of Portfolio Holdings and Index Composition (unaudited):: 15
Short Small-Cap ProFund
Investment Objective:The Short Small-Cap ProFund seeks daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the daily performance of the Russell 2000® Index.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Futures Contracts | | | (5 | )% |
| Swap Agreements | | | (95 | )% |
| Total Exposure | | | (100 | )% |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Holdings
The Short Small-Cap ProFund primarily invests in non-equity securities, which may include: swap agreements, futures contracts, options, forward contracts, repurchase agreements and U.S. Government securities.
Russell 2000® Index – Composition
| | | % of Index | |
| Health Care | | | 18 | % |
| Financials | | | 17 | % |
| Industrials | | | 16 | % |
| Information Technology | | | 14 | % |
| Consumer Discretionary | | | 11 | % |
| Real Estate | | | 8 | % |
| Utilities | | | 4 | % |
| Materials | | | 4 | % |
| Consumer Staples | | | 3 | % |
| Energy | | | 3 | % |
| Communication Services | | | 2 | % |
Small-Cap ProFund
Investment Objective:The Small-Cap ProFund seeks investment results, before fees and expenses, that correspond to the performance of the Russell 2000® Index.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 62 | % |
| Futures Contracts | | | 18 | % |
| Swap Agreements | | | 20 | % |
| Total Exposure | | | 100 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Teladoc Health, Inc. | | | 0.2 | % |
| Novocure, Ltd. | | | 0.2 | % |
| Generac Holdings, Inc. | | | 0.2 | % |
| Amedisys, Inc. | | | 0.2 | % |
| Trex Co., Inc. | | | 0.2 | % |
Russell 2000® Index – Composition
| | | % of Index | |
| Health Care | | | 18 | % |
| Financials | | | 17 | % |
| Industrials | | | 16 | % |
| Information Technology | | | 14 | % |
| Consumer Discretionary | | | 11 | % |
| Real Estate | | | 8 | % |
| Utilities | | | 4 | % |
| Materials | | | 4 | % |
| Consumer Staples | | | 3 | % |
| Energy | | | 3 | % |
| Communication Services | | | 2 | % |
Small-Cap Growth ProFund
Investment Objective:The Small-Cap Growth ProFund seeks investment results, before fees and expenses, that correspond to the performance of the S&P SmallCap 600® Growth Index.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 100 | % |
| Total Exposure | | | 100 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| LHC Group, Inc. | | | 1.1 | % |
| TopBuild Corp. | | | 1.0 | % |
| Exponent, Inc. | | | 1.0 | % |
| Aerojet Rocketdyne Holdings, Inc. | | | 1.0 | % |
| John Bean Technologies Corp. | | | 0.9 | % |
S&P SmallCap 600® Growth Index – Composition
| | | % of Index | |
| Information Technology | | | 20 | % |
| Industrials | | | 20 | % |
| Consumer Discretionary | | | 15 | % |
| Health Care | | | 14 | % |
| Financials | | | 11 | % |
| Real Estate | | | 7 | % |
| Materials | | | 4 | % |
| Consumer Staples | | | 3 | % |
| Utilities | | | 2 | % |
| Communication Services | | | 2 | % |
| Energy | | | 2 | % |
16 ::Allocation of Portfolio Holdings and Index Composition (unaudited)
Small-Cap Value ProFund
Investment Objective:The Small-Cap Value ProFund seeks investment results, before fees and expenses, that correspond to the performance of the S&P SmallCap 600® Value Index.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 100 | % |
| Total Exposure | | | 100 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Darling Ingredients, Inc. | | | 1.2 | % |
| Avista Corp. | | | 1.0 | % |
| Old National Bancorp | | | 0.9 | % |
| Anixter International, Inc. | | | 0.8 | % |
| Columbia Banking System, Inc. | | | 0.8 | % |
S&P SmallCap 600® Value Index – Composition
| | | % of Index | |
| Financials | | | 25 | % |
| Industrials | | | 15 | % |
| Consumer Discretionary | | | 13 | % |
| Health Care | | | 10 | % |
| Real Estate | | | 10 | % |
| Information Technology | | | 7 | % |
| Materials | | | 6 | % |
| Energy | | | 5 | % |
| Consumer Staples | | | 5 | % |
| Communication Services | | | 2 | % |
| Utilities | | | 2 | % |
Technology UltraSector ProFund
Investment Objective:The Technology UltraSector ProFund seeks daily investment results, before fees and expenses, that correspond to one and one-half times (1.5x) the daily performance of the Dow Jones U.S. TechnologySM Index.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 77 | % |
| Swap Agreements | | | 73 | % |
| Total Exposure | | | 150 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Microsoft Corp. | | | 13.9 | % |
| Apple, Inc. | | | 13.9 | % |
| Alphabet, Inc. | | | 9.2 | % |
| Facebook, Inc. | | | 5.2 | % |
| Intel Corp. | | | 3.0 | % |
��
Dow Jones U.S. TechnologySMIndex – Composition
| | | % of Index | |
| Software & Services | | | 37 | % |
| Technology Hardware & Equipment | | | 24 | % |
| Media & Entertainment | | | 20 | % |
| Semiconductors & Semiconductor Equipment | | | 17 | % |
| Health Care Equipment & Services | | | 1 | % |
| Retailing | | | 1 | % |
Telecommunications UltraSector ProFund
Investment Objective:The Telecommunications UltraSector ProFund seeks daily investment results, before fees and expenses, that correspond to one and one-half times (1.5x) the daily performance of the Dow Jones U.S. Select TelecommunicationsSM Index.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 73 | % |
| Swap Agreements | | | 76 | % |
| Total Exposure | | | 149 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| AT&T, Inc. | | | 16.1 | % |
| Verizon Communications, Inc. | | | 15.9 | % |
| Motorola Solutions, Inc. | | | 3.6 | % |
| T-Mobile U.S., Inc. | | | 3.5 | % |
| Cisco Systems, Inc. | | | 3.4 | % |
Dow Jones U.S. Select TelecommunicationsSMIndex – Composition
| | | % of Index | |
| Diversified Telecommunication Services | | | 57 | % |
| Communications Equipment | | | 32 | % |
| Wireless Telecommunication Services | | | 7 | % |
| Household Durables | | | 4 | % |
Allocation of Portfolio Holdings and Index Composition (unaudited):: 17
U.S. Government Plus ProFund
Investment Objective:The U.S. Government Plus ProFund seeks daily investment results, before fees and expenses, that correspond to one and one-quarter times (1.25x) the daily movement of the most recently issued 30-year U.S. Treasury Bond.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| U.S. Treasury Obligation | | | 34 | % |
| Swap Agreements | | | 90 | % |
| Total Exposure | | | 124 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Holdings
The U.S. Government Plus ProFund primarily invests in non-equity securities, which may include: swap agreements, futures contracts, options, forward contracts, repurchase agreements and U.S. Government securities.
UltraBear ProFund
Investment Objective:the UltraBear ProFund seeks daily investment results, before fees and expenses, that correspond to twice the inverse (-2x) of the daily performance of the S&P 500®.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Futures Contracts | | | (11 | )% |
| Swap Agreements | | | (190 | )% |
| Total Exposure | | | (201 | )% |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Holdings
The UltraBear ProFund primarily invests in non-equity securities, which may include: swap agreements, futures contracts, options, forward contracts, repurchase agreements and U.S. Government securities.
S&P 500® – Composition
| | | % of Index | |
| Information Technology | | | 24 | % |
| Health Care | | | 14 | % |
| Financials | | | 13 | % |
| Communication Services | | | 10 | % |
| Consumer Discretionary | | | 10 | % |
| Industrials | | | 9 | % |
| Consumer Staples | | | 7 | % |
| Energy | | | 4 | % |
| Utilities | | | 4 | % |
| Real Estate | | | 3 | % |
| Materials | | | 2 | % |
UltraBull ProFund
Investment Objective:The UltraBull ProFund seeks daily investment results, before fees and expenses, that correspond to twice (2x) the daily performance of the S&P 500®.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 64 | % |
| Futures Contracts | | | 21 | % |
| Swap Agreements | | | 115 | % |
| Total Exposure | | | 200 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Microsoft Corp. | | | 3.1 | % |
| Apple, Inc. | | | 3.1 | % |
| Alphabet, Inc. | | | 2.0 | % |
| Amazon.com, Inc. | | | 2.0 | % |
| Facebook, Inc. | | | 1.2 | % |
S&P 500® – Composition
| | | % of Index | |
| Information Technology | | | 24 | % |
| Health Care | | | 14 | % |
| Financials | | | 13 | % |
| Communication Services | | | 10 | % |
| Consumer Discretionary | | | 10 | % |
| Industrials | | | 9 | % |
| Consumer Staples | | | 7 | % |
| Energy | | | 4 | % |
| Utilities | | | 4 | % |
| Real Estate | | | 3 | % |
| Materials | | | 2 | % |
18 ::Allocation of Portfolio Holdings and Index Composition (unaudited)
UltraChina ProFund
Investment Objective:The UltraChina ProFund seeks daily investment results, before fees and expenses, that correspond to twice (2x) the daily performance of the S&P/BNY Mellon China Select ADR Index (USD).The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 83 | % |
| Swap Agreements | | | 117 | % |
| Total Exposure | | | 200 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Alibaba Group Holding, Ltd. | | | 16.5 | % |
| China Mobile, Ltd. | | | 8.9 | % |
| Baidu, Inc. | | | 6.7 | % |
| JD.com, Inc. | | | 6.5 | % |
| TAL Education Group | | | 4.0 | % |
S&P/BNY Mellon China Select ADR Index (USD)
| Industry Breakdown | | % of Index | |
| Consumer Discretionary | | | 47 | % |
| Communication Services | | | 34 | % |
| Energy | | | 10 | % |
| Financials | | | 4 | % |
| Industrials | | | 3 | % |
| Health Care | | | 1 | % |
| Information Technology | | | 1 | % |
| Country Composition | | | | |
| China | | | 100 | % |
UltraDow 30 ProFund
Investment Objective:The UltraDow 30 ProFund seeks daily investment results, before fees and expenses, that correspond to twice (2x) the daily performance of the Dow Jones Industrial Average®.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 71 | % |
| Futures Contracts | | | 18 | % |
| Swap Agreements | | | 111 | % |
| Total Exposure | | | 200 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| The Boeing Co. | | | 5.4 | % |
| Apple, Inc. | | | 5.3 | % |
| UnitedHealth Group, Inc. | | | 4.7 | % |
| The Goldman Sachs Group, Inc. | | | 4.1 | % |
| The Home Depot, Inc. | | | 3.9 | % |
Dow Jones Industrial Average®– Composition
| | | % of Index | |
| Information Technology | | | 23 | % |
| Industrials | | | 18 | % |
| Financials | | | 15 | % |
| Health Care | | | 13 | % |
| Consumer Discretionary | | | 13 | % |
| Consumer Staples | | | 8 | % |
| Communication Services | | | 5 | % |
| Energy | | | 4 | % |
| Materials | | | 1 | % |
UltraEmerging Markets ProFund
Investment Objective:The UltraEmerging Markets ProFund seeks daily investment results, before fees and expenses, that correspond to twice (2x) the daily performance of the S&P/BNY Mellon Emerging 50 ADR Index (USD).The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 88 | % |
| Swap Agreements | | | 112 | % |
| Total Exposure | | | 200 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Alibaba Group Holding, Ltd. | | | 18.2 | % |
| Taiwan Semiconductor Manufacturing Co., Ltd. | | | 14.2 | % |
| HDFC Bank, Ltd. | | | 5.4 | % |
| Petroleo Brasileiro S.A. | | | 3.4 | % |
| China Mobile, Ltd. | | | 3.2 | % |
S&P/BNY Mellon Emerging 50 ADR Index (USD)
| Industry Breakdown | | % of Index | |
| Consumer Discretionary | | | 27 | % |
| Information Technology | | | 21 | % |
| Financials | | | 18 | % |
| Communication Services | | | 15 | % |
| Energy | | | 8 | % |
| Materials | | | 6 | % |
| Consumer Staples | | | 3 | % |
| Utilities | | | 1 | % |
| Industrials | | | 1 | % |
| Country Composition | | | | |
| China | | | 40 | % |
| Taiwan | | | 18 | % |
| Brazil | | | 14 | % |
| India | | | 12 | % |
| Other | | | 16 | % |
Allocation of Portfolio Holdings and Index Composition (unaudited):: 19
UltraInternational ProFund
Investment Objective:The UltraInternational ProFund seeks daily investment results, before fees and expenses, that correspond to twice (2x) the daily performance of the Morgan Stanley Capital International Europe, Australasia and Far East ("MSCI EAFE") Index®.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Swap Agreements | | | 200 | % |
| Total Exposure | | | 200 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Holdings
The UltraInternational ProFund primarily invests in non-equity securities, which may include: swap agreements, futures contracts, options, forward contracts, repurchase agreements and U.S. Government securities.
MSCI EAFE Index®
| Industry Breakdown | | % of Index | |
| Financials | | | 18 | % |
| Industrials | | | 15 | % |
| Health Care | | | 13 | % |
| Consumer Staples | | | 11 | % |
| Consumer Discretionary | | | 11 | % |
| Information Technology | | | 7 | % |
| Materials | | | 7 | % |
| Communication Services | | | 5 | % |
| Energy | | | 5 | % |
| Utilities | | | 4 | % |
| Real Estate | | | 4 | % |
| Country Composition | | | | |
| Japan | | | 25 | % |
| United Kingdom | | | 15 | % |
| France | | | 11 | % |
| Switzerland | | | 10 | % |
| Germany | | | 8 | % |
| Other | | | 31 | % |
UltraJapan ProFund
Investment Objective:The UltraJapan ProFund seeks daily investment results, before fees and expenses, that correspond to twice (2x) the daily performance of the Nikkei 225 Stock Average.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Futures Contracts | | | 199 | % |
| Swap Agreements | | | 1 | % |
| Total Exposure | | | 200 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Holdings
The UltraJapan ProFund primarily invests in non-equity securities, which may include: swap agreements, futures contracts, options, forward contracts, repurchase agreements and U.S. Government securities.
Nikkei 225 Stock Average – Composition
| | | % of Index | |
| Consumer Discretionary | | | 21 | % |
| Industrials | | | 20 | % |
| Information Technology | | | 17 | % |
| Health Care | | | 14 | % |
| Consumer Staples | | | 9 | % |
| Communication Services | | | 9 | % |
| Materials | | | 6 | % |
| Real Estate | | | 2 | % |
| Financials | | | 2 | % |
UltraLatin America ProFund
Investment Objective:The UltraLatin America ProFund seeks daily investment results, before fees and expenses, that correspond to twice (2x) the daily performance of the S&P/BNY Mellon Latin America 35 ADR Index (USD).The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 88 | % |
| Swap Agreements | | | 112 | % |
| Total Exposure | | | 200 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Petroleo Brasileiro S.A. | | | 11.9 | % |
| Vale S.A. | | | 10.2 | % |
| Itau Unibanco Holding S.A. | | | 10.1 | % |
| Banco Bradesco S.A. | | | 8.4 | % |
| America Movil S.A.B. de C.V. | | | 4.5 | % |
S&P/BNY Mellon Latin America 35 ADR Index (USD)
| Industry Breakdown | | % of Index | |
| Financials | | | 27 | % |
| Materials | | | 19 | % |
| Energy | | | 17 | % |
| Consumer Staples | | | 13 | % |
| Communication Services | | | 10 | % |
| Industrials | | | 7 | % |
| Utilities | | | 7 | % |
| Country Composition | | | | |
| Brazil | | | 69 | % |
| Mexico | | | 19 | % |
| Chile | | | 7 | % |
| Colombia | | | 4 | % |
| Peru | | | 1 | % |
20 ::Allocation of Portfolio Holdings and Index Composition (unaudited)
UltraMid-Cap ProFund
Investment Objective:The UltraMid-Cap ProFund seeks daily investment results, before fees and expenses, that correspond to twice (2x) the daily performance of the S&P MidCap 400®.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 70 | % |
| Futures Contracts | | | 23 | % |
| Swap Agreements | | | 107 | % |
| Total Exposure | | | 200 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Teledyne Technologies, Inc. | | | 0.5 | % |
| Tyler Technologies, Inc. | | | 0.5 | % |
| Fair Isaac Corp. | | | 0.5 | % |
| Domino's Pizza, Inc. | | | 0.5 | % |
| West Pharmaceutical Services, Inc. | | | 0.5 | % |
S&P MidCap 400® – Composition
| | | % of Index | |
| Financials | | | 16 | % |
| Information Technology | | | 16 | % |
| Industrials | | | 15 | % |
| Consumer Discretionary | | | 14 | % |
| Real Estate | | | 11 | % |
| Health Care | | | 10 | % |
| Materials | | | 6 | % |
| Utilities | | | 5 | % |
| Consumer Staples | | | 3 | % |
| Communication Services | | | 2 | % |
| Energy | | | 2 | % |
UltraNasdaq-100 ProFund
Investment Objective:The UltraNasdaq-100 ProFund seeks daily investment results, before fees and expenses, that correspond to twice (2x) the daily performance of the Nasdaq-100® Index.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 62 | % |
| Futures Contracts | | | 17 | % |
| Swap Agreements | | | 122 | % |
| Total Exposure | | | 201 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Apple, Inc. | | | 7.3 | % |
| Microsoft Corp. | | | 6.9 | % |
| Amazon.com, Inc. | | | 5.3 | % |
| Alphabet, Inc. | | | 5.2 | % |
| Facebook, Inc. | | | 2.6 | % |
Nasdaq-100® Index – Composition
| | | % of Index | |
| Information Technology | | | 47 | % |
| Communication Services | | | 21 | % |
| Consumer Discretionary | | | 15 | % |
| Health Care | | | 7 | % |
| Consumer Staples | | | 6 | % |
| Industrials | | | 3 | % |
| Utilities | | | 1 | % |
UltraShort China ProFund
Investment Objective:The UltraShort China ProFund seeks daily investment results, before fees and expenses, that correspond to twice the inverse (-2x) of the daily performance of the S&P/BNY Mellon China Select ADR Index (USD).The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Swap Agreements | | | (201 | )% |
| Total Exposure | | | (201 | )% |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Holdings
The UltraShort China ProFund primarily invests in non-equity securities, which may include: swap agreements, futures contracts, options, forward contracts, repurchase agreements and U.S. Government securities.
S&P/BNY Mellon China Select ADR Index (USD)
| Industry Breakdown | | % of Index | |
| Consumer Discretionary | | | 47 | % |
| Communication Services | | | 34 | % |
| Energy | | | 10 | % |
| Financials | | | 4 | % |
| Industrials | | | 3 | % |
| Health Care | | | 1 | % |
| Information Technology | | | 1 | % |
| Country Composition | | | | |
| China | | | 100 | % |
Allocation of Portfolio Holdings and Index Composition (unaudited):: 21
UltraShort Dow 30 ProFund
Investment Objective:The UltraShort Dow 30 ProFund seeks daily investment results, before fees and expenses, that correspond to twice the inverse (-2x) of the daily performance of the Dow Jones Industrial Average®.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Futures Contracts | | | (23 | )% |
| Swap Agreements | | | (177 | )% |
| Total Exposure | | | (200 | )% |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Holdings
The UltraShort Dow 30 ProFund primarily invests in non-equity securities, which may include: swap agreements, futures contracts, options, forward contracts, repurchase agreements and U.S. Government securities.
Dow Jones Industrial Average® – Composition
| | | % of Index | |
| Information Technology | | | 23 | % |
| Industrials | | | 18 | % |
| Financials | | | 15 | % |
| Health Care | | | 13 | % |
| Consumer Discretionary | | | 13 | % |
| Consumer Staples | | | 8 | % |
| Communication Services | | | 5 | % |
| Energy | | | 4 | % |
| Materials | | | 1 | % |
UltraShort Emerging Markets ProFund
Investment Objective:The UltraShort Emerging Markets ProFund seeks daily investment results, before fees and expenses, that correspond to twice the inverse (-2x) of the daily performance of the S&P/BNY Mellon Emerging 50 ADR Index (USD).The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Swap Agreements | | | (201 | )% |
| Total Exposure | | | (201 | )% |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Holdings
The UltraShort Emerging Markets ProFund primarily invests in non-equity securities, which may include: swap agreements, futures contracts, options, forward contracts, repurchase agreements and U.S. Government securities.
S&P/BNY Mellon Emerging 50 ADR Index (USD)
| Industry Breakdown | | % of Index | |
| Consumer Discretionary | | | 27 | % |
| Information Technology | | | 21 | % |
| Financials | | | 18 | % |
| Communication Services | | | 15 | % |
| Energy | | | 8 | % |
| Materials | | | 6 | % |
| Consumer Staples | | | 3 | % |
| Utilities | | | 1 | % |
| Industrials | | | 1 | % |
| Country Composition | | | | |
| China | | | 40 | % |
| Taiwan | | | 18 | % |
| Brazil | | | 14 | % |
| India | | | 12 | % |
| Other | | | 16 | % |
UltraShort International ProFund
Investment Objective:The UltraShort International ProFund seeks daily investment results, before fees and expenses, that correspond to twice the inverse (-2x) of the daily performance of the Morgan Stanley Capital International Europe, Australasia and Far East ("MSCI EAFE") Index®.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Swap Agreements | | | (201 | )% |
| Total Exposure | | | (201 | )% |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Holdings
The UltraShort International ProFund primarily invests in non-equity securities, which may include: swap agreements, futures contracts, options, forward contracts, repurchase agreements and U.S. Government securities.
MSCI EAFE Index®
| Industry Breakdown | | % of Index | |
| Financials | | | 18 | % |
| Industrials | | | 15 | % |
| Health Care | | | 13 | % |
| Consumer Staples | | | 11 | % |
| Consumer Discretionary | | | 11 | % |
| Information Technology | | | 7 | % |
| Materials | | | 7 | % |
| Communication Services | | | 5 | % |
| Energy | | | 5 | % |
| Utilities | | | 4 | % |
| Real Estate | | | 4 | % |
| Country Composition | | | | |
| Japan | | | 25 | % |
| United Kingdom | | | 15 | % |
| France | | | 11 | % |
| Switzerland | | | 10 | % |
| Germany | | | 8 | % |
| Other | | | 31 | % |
22 ::Allocation of Portfolio Holdings and Index Composition (unaudited)
UltraShort Japan ProFund
Investment Objective:The UltraShort Japan ProFund seeks daily investment results, before fees and expenses, that correspond to twice the inverse (-2x) of the daily performance of the Nikkei 225 Stock Average.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Futures Contracts | | | (191 | )% |
| Swap Agreements | | | (11 | )% |
| Total Exposure | | | (202 | )% |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Holdings
The UltraShort Japan ProFund primarily invests in non-equity securities, which may include: swap agreements, futures contracts, options, forward contracts, repurchase agreements and U.S. Government securities.
Nikkei 225 Stock Average – Composition
| | | % of Index | |
| Consumer Discretionary | | | 21 | % |
| Industrials | | | 20 | % |
| Information Technology | | | 17 | % |
| Health Care | | | 14 | % |
| Consumer Staples | | | 9 | % |
| Communication Services | | | 9 | % |
| Materials | | | 6 | % |
| Real Estate | | | 2 | % |
| Financials | | | 2 | % |
UltraShort Latin America ProFund
Investment Objective:The UltraShort Latin America ProFund seeks daily investment results, before fees and expenses, that correspond to twice the inverse (-2x) of the daily performance of the S&P/BNY Mellon Latin America 35 ADR Index (USD).The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Swap Agreements | | | (200 | )% |
| Total Exposure | | | (200 | )% |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Holdings
The UltraShort Latin America ProFund primarily invests in non-equity securities, which may include: swap agreements, futures contracts, options, forward contracts, repurchase agreements and U.S. Government securities.
S&P/BNY Mellon Latin America 35 ADR Index (USD)
| Industry Breakdown | | % of Index | |
| Financials | | | 27 | % |
| Materials | | | 19 | % |
| Energy | | | 17 | % |
| Consumer Staples | | | 13 | % |
| Communication Services | | | 10 | % |
| Industrials | | | 7 | % |
| Utilities | | | 7 | % |
| Country Composition | | | | |
| Brazil | | | 69 | % |
| Mexico | | | 19 | % |
| Chile | | | 7 | % |
| Colombia | | | 4 | % |
| Peru | | | 1 | % |
UltraShort Mid-Cap ProFund
Investment Objective:the UltraShort Mid-Cap ProFund seeks daily investment results, before fees and expenses, that correspond to twice the inverse (-2x) of the daily performance of the S&P MidCap 400®.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Futures Contracts | | | (14 | )% |
| Swap Agreements | | | (186 | )% |
| Total Exposure | | | (200 | )% |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Holdings
The UltraShort Mid-Cap ProFund primarily invests in non-equity securities, which may include: swap agreements, futures contracts, options, forward contracts, repurchase agreements and U.S. Government securities.
S&P MidCap 400® – Composition
| | | % of Index | |
| Financials | | | 16 | % |
| Information Technology | | | 16 | % |
| Industrials | | | 15 | % |
| Consumer Discretionary | | | 14 | % |
| Real Estate | | | 11 | % |
| Health Care | | | 10 | % |
| Materials | | | 6 | % |
| Utilities | | | 5 | % |
| Consumer Staples | | | 3 | % |
| Communication Services | | | 2 | % |
| Energy | | | 2 | % |
Allocation of Portfolio Holdings and Index Composition (unaudited):: 23
UltraShort Nasdaq-100 ProFund
Investment Objective:The UltraShort Nasdaq-100 ProFund seeks daily investment results, before fees and expenses, that correspond to twice the inverse (-2x) of the daily performance of the Nasdaq-100® Index.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Futures Contracts | | | (12 | )% |
| Swap Agreements | | | (188 | )% |
| Total Exposure | | | (200 | )% |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Holdings
The UltraShort Nasdaq-100 ProFund primarily invests in non-equity securities, which may include: swap agreements, futures contracts, options, forward contracts, repurchase agreements and U.S. Government securities.
Nasdaq-100® Index – Composition
| | | % of Index | |
| Information Technology | | | 47 | % |
| Communication Services | | | 21 | % |
| Consumer Discretionary | | | 15 | % |
| Health Care | | | 7 | % |
| Consumer Staples | | | 6 | % |
| Industrials | | | 3 | % |
| Utilities | | | 1 | % |
UltraShort Small-Cap ProFund
Investment Objective:The UltraShort Small-Cap ProFund seeks daily investment results, before fees and expenses, that correspond to twice the inverse (-2x) of the daily performance of the Russell 2000® Index.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Futures Contracts | | | (5 | )% |
| Swap Agreements | | | (195 | )% |
| Total Exposure | | | (200 | )% |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Holdings
The UltraShort Small-Cap ProFund primarily invests in non-equity securities, which may include: swap agreements, futures contracts, options, forward contracts, repurchase agreements and U.S. Government securities.
Russell 2000® Index – Composition
| | | % of Index | |
| Health Care | | | 18 | % |
| Financials | | | 17 | % |
| Industrials | | | 16 | % |
| Information Technology | | | 14 | % |
| Consumer Discretionary | | | 11 | % |
| Real Estate | | | 8 | % |
| Utilities | | | 4 | % |
| Materials | | | 4 | % |
| Consumer Staples | | | 3 | % |
| Energy | | | 3 | % |
| Communication Services | | | 2 | % |
UltraSmall-Cap ProFund
Investment Objective:The UltraSmall-Cap ProFund seeks daily investment results, before fees and expenses, that correspond to twice (2x) the daily performance of the Russell 2000® Index.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 49 | % |
| Futures Contracts | | | 12 | % |
| Swap Agreements | | | 138 | % |
| Total Exposure | | | 199 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Teladoc Health, Inc. | | | 0.2 | % |
| Novocure, Ltd. | | | 0.2 | % |
| Generac Holdings, Inc. | | | 0.2 | % |
| Amedisys, Inc. | | | 0.2 | % |
| Trex Co., Inc. | | | 0.2 | % |
Russell 2000® Index – Composition
| | | % of Index | |
| Health Care | | | 18 | % |
| Financials | | | 17 | % |
| Industrials | | | 16 | % |
| Information Technology | | | 14 | % |
| Consumer Discretionary | | | 11 | % |
| Real Estate | | | 8 | % |
| Utilities | | | 4 | % |
| Materials | | | 4 | % |
| Consumer Staples | | | 3 | % |
| Energy | | | 3 | % |
| Communication Services | | | 2 | % |
24 ::Allocation of Portfolio Holdings and Index Composition (unaudited)
Utilities UltraSector ProFund
Investment Objective:The Utilities UltraSector ProFund seeks daily investment results, before fees and expenses, that correspond to one and one-half times (1.5x) the daily performance of the Dow Jones U.S. UtilitiesSM Index.The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Market Exposure
| Investment Type | | % of Net Assets | |
| Equity Securities | | | 76 | % |
| Swap Agreements | | | 74 | % |
| Total Exposure | | | 150 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management.
Largest Equity Holdings
| Company | | % of Net Assets | |
| NextEra Energy, Inc. | | | 9.5 | % |
| The Southern Co. | | | 5.4 | % |
| Duke Energy Corp. | | | 5.2 | % |
| Dominion Energy, Inc. | | | 5.1 | % |
| American Electric Power Co., Inc. | | | 3.7 | % |
Dow Jones U.S. UtilitiesSMIndex – Composition
| | | % of Index | |
| Electric Utilities | | | 60 | % |
| Multi-Utilities | | | 30 | % |
| Gas Utilities | | | 4 | % |
| Water Utilities | | | 3 | % |
| Independent Power and Renewable Electricity Producers | | | 3 | % |
Expense Examples
26 :: Expense Examples(unaudited)
As a ProFund shareholder, you may incur two types of costs: (1) transaction costs, including wire redemption fees; and (2) ongoing costs, including management fees; distribution and services (12b-1) fees; and other ProFund expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in a ProFund and to compare these costs with the ongoing cost of investing in other mutual funds. Please note that the expenses shown in the table below are meant to highlight your ongoing costs only and do not reflect any transactional costs. If these transactional costs were included, your costs would have been higher. Therefore, the examples are useful in comparing ongoing costs only and will not help you determine the relative total cost of owning different funds.
Actual Expenses
The actual examples are based on an investment of $1,000 invested at the beginning of a six-month period and held through the period ended January 31, 2020.
The columns below under the heading entitled "Actual" provide information about actual account values and actual expenses. You may use this information, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the table under the heading entitled "Actual Expenses Paid During Period" to estimate the expenses you paid on your account during this period.
Hypothetical Expenses for Comparison Purpose
The hypothetical expense examples are based on an investment of $1,000 invested at the beginning of a six-month period and held throughout the period ended January 31, 2020.
The columns below under the heading entitled "Hypothetical" provide information about hypothetical account values and hypothetical expenses based on each ProFund's actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not each ProFund's actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in your ProFund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
| | | | | | | | | Actual | | | Hypothetical
(5% return before expenses) | |
| | | Annualized
Expense Ratio
During Period | | | Beginning
Account Value
8/1/19 | | | Ending
Account Value
1/31/20 | | | Expenses
Paid During
Period* | | | Ending
Account Value
1/31/20 | | | Expenses
Paid During
Period* | |
| Banks UltraSector ProFund–Investor | | | 1.68 | % | | $ | 1,000.00 | | | $ | 1,062.40 | | | $ | 8.71 | | | $ | 1,016.69 | | | $ | 8.52 | |
| Banks UltraSector ProFund–Service | | | 2.68 | % | | | 1,000.00 | | | | 1,057.10 | | | | 13.86 | | | | 1,011.66 | | | | 13.55 | |
| Basic Materials UltraSector ProFund–Investor | | | 1.90 | % | | | 1,000.00 | | | | 950.60 | | | | 9.32 | | | | 1,015.58 | | | | 9.63 | |
| Basic Materials UltraSector ProFund–Service | | | 2.90 | % | | | 1,000.00 | | | | 945.80 | | | | 14.18 | | | | 1,010.56 | | | | 14.66 | |
| Bear ProFund–Investor | | | 1.89 | % | | | 1,000.00 | | | | 915.80 | | | | 9.10 | | | | 1,015.63 | | | | 9.58 | |
| Bear ProFund–Service | | | 2.89 | % | | | 1,000.00 | | | | 911.60 | | | | 13.89 | | | | 1,010.61 | | | | 14.61 | |
| Biotechnology UltraSector ProFund–Investor | | | 1.62 | % | | | 1,000.00 | | | | 1,119.60 | | | | 8.63 | | | | 1,016.99 | | | | 8.21 | |
| Biotechnology UltraSector ProFund–Service | | | 2.62 | % | | | 1,000.00 | | | | 1,114.10 | | | | 13.92 | | | | 1,011.97 | | | | 13.25 | |
| Bull ProFund–Investor | | | 1.64 | % | | | 1,000.00 | | | | 1,082.50 | | | | 8.58 | | | | 1,016.89 | | | | 8.31 | |
| Bull ProFund–Service | | | 2.64 | % | | | 1,000.00 | | | | 1,076.80 | | | | 13.78 | | | | 1,011.86 | | | | 13.35 | |
| Communication Services UltraSector ProFund–Investor | | | 2.22 | % | | | 1,000.00 | | | | 1,079.30 | | | | 11.60 | | | | 1,013.98 | | | | 11.24 | |
| Communication Services UltraSector ProFund–Service | | | 3.22 | % | | | 1,000.00 | | | | 1,073.80 | | | | 16.79 | | | | 1,008.95 | | | | 16.26 | |
| Consumer Goods UltraSector ProFund–Investor | | | 1.78 | % | | | 1,000.00 | | | | 1,128.90 | | | | 9.53 | | | | 1,016.19 | | | | 9.02 | |
| Consumer Goods UltraSector ProFund–Service | | | 2.78 | % | | | 1,000.00 | | | | 1,123.30 | | | | 14.84 | | | | 1,011.16 | | | | 14.05 | |
| Consumer Services UltraSector ProFund–Investor | | | 1.67 | % | | | 1,000.00 | | | | 1,045.20 | | | | 8.59 | | | | 1,016.74 | | | | 8.47 | |
| Consumer Services UltraSector ProFund–Service | | | 2.67 | % | | | 1,000.00 | | | | 1,039.90 | | | | 13.69 | | | | 1,011.71 | | | | 13.50 | |
| Europe 30 ProFund–Investor | | | 1.78 | % | | | 1,000.00 | | | | 1,007.40 | | | | 8.98 | | | | 1,016.19 | | | | 9.02 | |
Expense Examples(unaudited):: 27
| | | | | | | | | Actual | | | Hypothetical
(5% return before expenses) | |
| | | Annualized
Expense Ratio
During Period | | | Beginning
Account Value
8/1/19 | | | Ending
Account Value
1/31/20 | | | Expenses
Paid During
Period* | | | Ending
Account Value
1/31/20 | | | Expenses
Paid During
Period* | |
| Europe 30 ProFund–Service | | | 2.78 | % | | $ | 1,000.00 | | | $ | 1,001.50 | | | $ | 13.99 | | | $ | 1,011.16 | | | $ | 14.05 | |
| Falling U.S. Dollar ProFund–Investor | | | 1.78 | % | | | 1,000.00 | | | | 1,000.60 | | | | 8.95 | | | | 1,016.19 | | | | 9.02 | |
| Falling U.S. Dollar ProFund–Service | | | 2.78 | % | | | 1,000.00 | | | | 995.90 | | | | 13.95 | | | | 1,011.16 | | | | 14.05 | |
| Financials UltraSector ProFund–Investor | | | 1.78 | % | | | 1,000.00 | | | | 1,094.20 | | | | 9.37 | | | | 1,016.19 | | | | 9.02 | |
| Financials UltraSector ProFund–Service | | | 2.78 | % | | | 1,000.00 | | | | 1,088.50 | | | | 14.59 | | | | 1,011.16 | | | | 14.05 | |
| Health Care UltraSector ProFund–Investor | | | 1.85 | % | | | 1,000.00 | | | | 1,132.10 | | | | 9.91 | | | | 1,015.84 | | | | 9.37 | |
| Health Care UltraSector ProFund–Service | | | 2.81 | % | | | 1,000.00 | | | | 1,126.60 | | | | 15.02 | | | | 1,011.01 | | | | 14.20 | |
| Industrials UltraSector ProFund–Investor | | | 1.92 | % | | | 1,000.00 | | | | 1,059.30 | | | | 9.94 | | | | 1,015.48 | | | | 9.73 | |
| Industrials UltraSector ProFund–Service | | | 2.92 | % | | | 1,000.00 | | | | 1,054.10 | | | | 15.08 | | | | 1,010.46 | | | | 14.76 | |
| Internet UltraSector ProFund–Investor | | | 1.62 | % | | | 1,000.00 | | | | 968.10 | | | | 8.01 | | | | 1,016.99 | | | | 8.21 | |
| Internet UltraSector ProFund–Service | | | 2.62 | % | | | 1,000.00 | | | | 963.30 | | | | 12.93 | | | | 1,011.97 | | | | 13.25 | |
| Large-Cap Growth ProFund–Investor | | | 1.75 | % | | | 1,000.00 | | | | 1,092.10 | | | | 9.20 | | | | 1,016.34 | | | | 8.87 | |
| Large-Cap Growth ProFund–Service | | | 2.75 | % | | | 1,000.00 | | | | 1,086.60 | | | | 14.42 | | | | 1,011.31 | | | | 13.90 | |
| Large-Cap Value ProFund–Investor | | | 1.71 | % | | | 1,000.00 | | | | 1,071.90 | | | | 8.91 | | | | 1,016.54 | | | | 8.67 | |
| Large-Cap Value ProFund–Service | | | 2.71 | % | | | 1,000.00 | | | | 1,066.30 | | | | 14.08 | | | | 1,011.51 | | | | 13.70 | |
| Mid-Cap ProFund–Investor | | | 2.14 | % | | | 1,000.00 | | | | 1,017.60 | | | | 10.85 | | | | 1,014.38 | | | | 10.84 | |
| Mid-Cap ProFund–Service | | | 3.14 | % | | | 1,000.00 | | | | 1,012.70 | | | | 15.89 | | | | 1,009.35 | | | | 15.86 | |
| Mid-Cap Growth ProFund–Investor | | | 1.82 | % | | | 1,000.00 | | | | 1,025.10 | | | | 9.26 | | | | 1,015.99 | | | | 9.22 | |
| Mid-Cap Growth ProFund–Service | | | 2.82 | % | | | 1,000.00 | | | | 1,019.70 | | | | 14.32 | | | | 1,010.96 | | | | 14.25 | |
| Mid-Cap Value ProFund–Investor | | | 1.78 | % | | | 1,000.00 | | | | 1,015.30 | | | | 9.02 | | | | 1,016.19 | | | | 9.02 | |
| Mid-Cap Value ProFund–Service | | | 2.78 | % | | | 1,000.00 | | | | 1,010.30 | | | | 14.05 | | | | 1,011.16 | | | | 14.05 | |
| Nasdaq-100 ProFund–Investor | | | 1.55 | % | | | 1,000.00 | | | | 1,140.10 | | | | 8.34 | | | | 1,017.34 | | | | 7.86 | |
| Nasdaq-100 ProFund–Service | | | 2.54 | % | | | 1,000.00 | | | | 1,134.50 | | | | 13.63 | | | | 1,012.37 | | | | 12.85 | |
| Oil & Gas UltraSector ProFund–Investor | | | 1.85 | % | | | 1,000.00 | | | | 819.30 | | | | 8.46 | | | | 1,015.84 | | | | 9.37 | |
| Oil & Gas UltraSector ProFund–Service | | | 2.85 | % | | | 1,000.00 | | | | 815.10 | | | | 13.00 | | | | 1,010.81 | | | | 14.41 | |
| Oil Equipment & Services UltraSector ProFund–Investor | | | 1.94 | % | | | 1,000.00 | | | | 683.30 | | | | 8.21 | | | | 1,015.38 | | | | 9.83 | |
| Oil Equipment & Services UltraSector ProFund–Service | | | 2.94 | % | | | 1,000.00 | | | | 680.00 | | | | 12.42 | | | | 1,010.36 | | | | 14.86 | |
| Pharmaceuticals UltraSector ProFund–Investor | | | 1.89 | % | | | 1,000.00 | | | | 1,152.80 | | | | 10.23 | | | | 1,015.63 | | | | 9.58 | |
| Pharmaceuticals UltraSector ProFund–Service | | | 2.89 | % | | | 1,000.00 | | | | 1,147.00 | | | | 15.60 | | | | 1,010.61 | | | | 14.61 | |
| Precious Metals UltraSector ProFund–Investor | | | 1.65 | % | | | 1,000.00 | | | | 1,268.40 | | | | 9.41 | | | | 1,016.84 | | | | 8.36 | |
| Precious Metals UltraSector ProFund–Service | | | 2.65 | % | | | 1,000.00 | | | | 1,262.00 | | | | 15.07 | | | | 1,011.81 | | | | 13.40 | |
| Real Estate UltraSector ProFund–Investor | | | 1.74 | % | | | 1,000.00 | | | | 1,099.80 | | | | 9.18 | | | | 1,016.39 | | | | 8.82 | |
| Real Estate UltraSector ProFund–Service | | | 2.74 | % | | | 1,000.00 | | | | 1,094.00 | | | | 14.42 | | | | 1,011.36 | | | | 13.85 | |
| Rising Rates Opportunity ProFund–Investor | | | 1.81 | % | | | 1,000.00 | | | | 851.20 | | | | 8.42 | | | | 1,016.04 | | | | 9.17 | |
| Rising Rates Opportunity ProFund–Service | | | 2.81 | % | | | 1,000.00 | | | | 847.20 | | | | 13.05 | | | | 1,011.01 | | | | 14.20 | |
| Rising Rates Opportunity 10 ProFund–Investor | | | 1.90 | % | | | 1,000.00 | | | | 951.90 | | | | 9.32 | | | | 1,015.58 | | | | 9.63 | |
28 :: Expense Examples(unaudited)
| | | | | | | | | Actual | | | Hypothetical
(5% return before expenses) | |
| | | Annualized
Expense Ratio
During Period | | | Beginning
Account Value
8/1/19 | | | Ending
Account Value
1/31/20 | | | Expenses
Paid During
Period* | | | Ending
Account Value
1/31/20 | | | Expenses
Paid During
Period* | |
| Rising Rates Opportunity 10 ProFund–Service | | | 2.90 | % | | $ | 1,000.00 | | | $ | 947.10 | | | $ | 14.19 | | | $ | 1,010.56 | | | $ | 14.66 | |
| Rising U.S. Dollar ProFund–Investor | | | 1.78 | % | | | 1,000.00 | | | | 995.90 | | | | 8.93 | | | | 1,016.19 | | | | 9.02 | |
| Rising U.S. Dollar ProFund–Service | | | 2.78 | % | | | 1,000.00 | | | | 990.90 | | | | 13.91 | | | | 1,011.16 | | | | 14.05 | |
| Semiconductor UltraSector ProFund–Investor | | | 1.56 | % | | | 1,000.00 | | | | 1,241.30 | | | | 8.79 | | | | 1,017.29 | | | | 7.91 | |
| Semiconductor UltraSector ProFund–Service | | | 2.56 | % | | | 1,000.00 | | | | 1,234.80 | | | | 14.38 | | | | 1,012.27 | | | | 12.95 | |
| Short Nasdaq-100 ProFund–Investor | | | 1.78 | % | | | 1,000.00 | | | | 866.50 | | | | 8.35 | | | | 1,016.19 | | | | 9.02 | |
| Short Nasdaq-100 ProFund–Service | | | 2.78 | % | | | 1,000.00 | | | | 861.70 | | | | 13.01 | | | | 1,011.16 | | | | 14.05 | |
| Short Oil & Gas ProFund–Investor | | | 1.78 | % | | | 1,000.00 | | | | 1,105.80 | | | | 9.42 | | | | 1,016.19 | | | | 9.02 | |
| Short Oil & Gas ProFund–Service | | | 2.78 | % | | | 1,000.00 | | | | 1,100.80 | | | | 14.68 | | | | 1,011.16 | | | | 14.05 | |
| Short Precious Metals ProFund–Investor | | | 1.78 | % | | | 1,000.00 | | | | 808.90 | | | | 8.09 | | | | 1,016.19 | | | | 9.02 | |
| Short Precious Metals ProFund–Service | | | 2.78 | % | | | 1,000.00 | | | | 805.00 | | | | 12.61 | | | | 1,011.16 | | | | 14.05 | |
| Short Real Estate ProFund–Investor | | | 1.78 | % | | | 1,000.00 | | | | 927.90 | | | | 8.63 | | | | 1,016.19 | | | | 9.02 | |
| Short Real Estate ProFund–Service | | | 2.78 | % | | | 1,000.00 | | | | 922.90 | | | | 13.44 | | | | 1,011.161 | | | | 14.05 | |
| Short Small-Cap ProFund–Investor | | | 1.78 | % | | | 1,000.00 | | | | 963.00 | | | | 8.78 | | | | 1,016.19 | | | | 9.02 | |
| Short Small-Cap ProFund–Service | | | 2.78 | % | | | 1,000.00 | | | | 958.70 | | | | 13.69 | | | | 1,011.16 | | | | 14.05 | |
| Small-Cap ProFund–Investor | | | 2.13 | % | | | 1,000.00 | | | | 1,019.70 | | | | 10.81 | | | | 1,014.43 | | | | 10.79 | |
| Small-Cap ProFund–Service | | | 3.13 | % | | | 1,000.00 | | | | 1,014.30 | | | | 15.85 | | | | 1,009.40 | | | | 15.81 | |
| Small-Cap Growth ProFund–Investor | | | 1.84 | % | | | 1,000.00 | | | | 1,028.00 | | | | 9.38 | | | | 1,015.89 | | | | 9.32 | |
| Small-Cap Growth ProFund–Service | | | 2.84 | % | | | 1,000.00 | | | | 1,023.10 | | | | 14.44 | | | | 1,010.86 | | | | 14.36 | |
| Small-Cap Value ProFund–Investor | | | 2.03 | % | | | 1,000.00 | | | | 1,002.00 | | | | 10.22 | | | | 1,014.93 | | | | 10.28 | |
| Small-Cap Value ProFund–Service | | | 3.03 | % | | | 1,000.00 | | | | 996.90 | | | | 15.21 | | | | 1,009.90 | | | | 15.31 | |
| Technology UltraSector ProFund–Investor | | | 1.67 | % | | | 1,000.00 | | | | 1,249.20 | | | | 9.44 | | | | 1,016.74 | | | | 8.47 | |
| Technology UltraSector ProFund–Service | | | 2.67 | % | | | 1,000.00 | | | | 1,242.70 | | | | 15.05 | | | | 1,011.71 | | | | 13.50 | |
| Telecommunications UltraSector ProFund–Investor | | | 1.78 | % | | | 1,000.00 | | | | 971.50 | | | | 8.82 | | | | 1,016.19 | | | | 9.02 | |
| Telecommunications UltraSector ProFund–Service | | | 2.78 | % | | | 1,000.00 | | | | 966.70 | | | | 13.74 | | | | 1,011.16 | | | | 14.05 | |
| U.S. Government Plus ProFund–Investor | | | 1.38 | % | | | 1,000.00 | | | | 1,147.80 | | | | 7.45 | | | | 1,018.20 | | | | 7.00 | |
| U.S. Government Plus ProFund–Service | | | 2.38 | % | | | 1,000.00 | | | | 1,142.40 | | | | 12.82 | | | | 1,013.17 | | | | 12.04 | |
| UltraBear ProFund–Investor | | | 1.78 | % | | | 1,000.00 | | | | 831.70 | | | | 8.20 | | | | 1,016.19 | | | | 9.02 | |
| UltraBear ProFund–Service | | | 2.78 | % | | | 1,000.00 | | | | 827.60 | | | | 12.77 | | | | 1,011.16 | | | | 14.05 | |
| UltraBull ProFund–Investor | | | 1.59 | % | | | 1,000.00 | | | | 1,158.50 | | | | 8.63 | | | | 1,017.14 | | | | 8.06 | |
| UltraBull ProFund–Service | | | 2.59 | % | | | 1,000.00 | | | | 1,152.60 | | | | 14.01 | | | | 1,012.12 | | | | 13.10 | |
| UltraChina ProFund–Investor | | | 1.79 | % | | | 1,000.00 | | | | 1,127.80 | | | | 9.57 | | | | 1,016.14 | | | | 9.07 | |
| UltraChina ProFund–Service | | | 2.79 | % | | | 1,000.00 | | | | 1,122.20 | | | | 14.88 | | | | 1,011.11 | | | | 14.10 | |
| UltraDow 30 ProFund–Investor | | | 1.71 | % | | | 1,000.00 | | | | 1,099.00 | | | | 9.02 | | | | 1,016.54 | | | | 8.67 | |
| UltraDow 30 ProFund–Service | | | 2.71 | % | | | 1,000.00 | | | | 1,093.60 | | | | 14.26 | | | | 1,011.51 | | | | 13.70 | |
| UltraEmerging Markets ProFund–Investor | | | 1.90 | % | | | 1,000.00 | | | | 1,114.20 | | | | 10.10 | | | | 1,015.58 | | | | 9.63 | |
UltraEmerging Markets ProFund–
Service | | | 2.90 | % | | | 1,000.00 | | | | 1,108.70 | | | | 15.37 | | | | 1,010.56 | | | | 14.66 | |
| UltraInternational ProFund–Investor | | | 1.90 | % | | | 1,000.00 | | | | 1,083.40 | | | | 9.95 | | | | 1,015.58 | | | | 9.63 | |
| UltraInternational ProFund–Service | | | 2.90 | % | | | 1,000.00 | | | | 1,079.00 | | | | 15.16 | | | | 1,010.56 | | | | 14.66 | |
| UltraJapan ProFund–Investor | | | 1.91 | % | | | 1,000.00 | | | | 1,125.30 | | | | 10.20 | | | | 1,015.53 | | | | 9.68 | |
| UltraJapan ProFund–Service | | | 2.91 | % | | | 1,000.00 | | | | 1,119.60 | | | | 15.50 | | | | 1,010.51 | | | | 14.71 | |
| UltraLatin America ProFund–Investor | | | 1.66 | % | | | 1,000.00 | | | | 868.20 | | | | 7.80 | | | | 1,016.79 | | | | 8.42 | |
Expense Examples(unaudited):: 29
| | | | | | | | | Actual | | | Hypothetical
(5% return before expenses) | |
| | | Annualized
Expense Ratio
During Period | | | Beginning
Account Value
8/1/19 | | | Ending
Account Value
1/31/20 | | | Expenses
Paid During
Period* | | | Ending
Account Value
1/31/20 | | | Expenses
Paid During
Period* | |
| UltraLatin America ProFund–Service | | | 2.64 | % | | $ | 1,000.00 | | | $ | 864.20 | | | $ | 12.37 | | | $ | 1,011.86 | | | $ | 13.35 | |
| UltraMid-Cap ProFund–Investor | | | 1.64 | % | | | 1,000.00 | | | | 1,027.80 | | | | 8.36 | | | | 1,016.89 | | | | 8.31 | |
| UltraMid-Cap ProFund–Service | | | 2.64 | % | | | 1,000.00 | | | | 1,022.50 | | | | 13.42 | | | | 1,011.86 | | | | 13.35 | |
| UltraNasdaq-100 ProFund–Investor | | | 1.56 | % | | | 1,000.00 | | | | 1,280.50 | | | | 8.94 | | | | 1,017.29 | | | | 7.91 | |
| UltraNasdaq-100 ProFund–Service | | | 2.56 | % | | | 1,000.00 | | | | 1,274.10 | | | | 14.63 | | | | 1,012.27 | | | | 12.95 | |
| UltraShort China ProFund–Investor | | | 1.78 | % | | | 1,000.00 | | | | 787.70 | | | | 8.00 | | | | 1,016.19 | | | | 9.02 | |
| UltraShort China ProFund–Service | | | 2.78 | % | | | 1,000.00 | | | | 784.00 | | | | 12.47 | | | | 1,011.16 | | | | 14.05 | |
| UltraShort Dow 30 ProFund–Investor | | | 1.78 | % | | | 1,000.00 | | | | 877.40 | | | | 8.40 | | | | 1,016.19 | | | | 9.02 | |
| UltraShort Dow 30 ProFund–Service | | | 2.78 | % | | | 1,000.00 | | | | 873.50 | | | | 13.09 | | | | 1,011.16 | | | | 14.05 | |
| UltraShort Emerging Markets ProFund–Investor | | | 1.78 | % | | | 1,000.00 | | | | 838.80 | | | | 8.23 | | | | 1,016.19 | | | | 9.02 | |
| UltraShort Emerging Markets ProFund–Service | | | 2.78 | % | | | 1,000.00 | | | | 835.10 | | | | 12.82 | | | | 1,011.16 | | | | 14.05 | |
| UltraShort International ProFund–Investor | | | 1.78 | % | | | 1,000.00 | | | | 886.00 | | | | 8.44 | | | | 1,016.19 | | | | 9.02 | |
| UltraShort International ProFund–Service | | | 2.78 | % | | | 1,000.00 | | | | 881.90 | | | | 13.15 | | | | 1,011.16 | | | | 14.05 | |
| UltraShort Japan ProFund–Investor | | | 1.78 | % | | | 1,000.00 | | | | 845.10 | | | | 8.26 | | | | 1,016.19 | | | | 9.02 | |
| UltraShort Japan ProFund–Service | | | 2.78 | % | | | 1,000.00 | | | | 841.00 | | | | 12.86 | | | | 1,011.16 | | | | 14.05 | |
| UltraShort Latin America ProFund–Investor | | | 1.78 | % | | | 1,000.00 | | | | 1,038.40 | | | | 9.12 | | | | 1,016.19 | | | | 9.02 | |
| UltraShort Latin America ProFund–Service | | | 2.78 | % | | | 1,000.00 | | | | 1,032.40 | | | | 14.20 | | | | 1,011.16 | | | | 14.05 | |
| UltraShort Mid-Cap ProFund–Investor | | | 1.78 | % | | | 1,000.00 | | | | 929.80 | | | | 8.63 | | | | 1,016.19 | | | | 9.02 | |
| UltraShort Mid-Cap ProFund–Service | | | 2.78 | % | | | 1,000.00 | | | | 925.50 | | | | 13.46 | | | | 1,011.16 | | | | 14.05 | |
| UltraShort Nasdaq-100 ProFund–Investor | | | 1.85 | % | | | 1,000.00 | | | | 740.20 | | | | 8.09 | | | | 1,015.84 | | | | 9.37 | |
| UltraShort Nasdaq-100 ProFund–Service | | | 2.85 | % | | | 1,000.00 | | | | 736.90 | | | | 12.44 | | | | 1,010.81 | | | | 14.41 | |
| UltraShort Small-Cap ProFund–Investor | | | 1.78 | % | | | 1,000.00 | | | | 916.60 | | | | 8.58 | | | | 1,016.19 | | | | 9.02 | |
| UltraShort Small-Cap ProFund–Service | | | 2.78 | % | | | 1,000.00 | | | | 912.30 | | | | 13.36 | | | | 1,011.16 | | | | 14.05 | |
| UltraSmall-Cap ProFund–Investor | | | 1.77 | % | | | 1,000.00 | | | | 1,031.40 | | | | 9.04 | | | | 1,016.24 | | | | 8.97 | |
| UltraSmall-Cap ProFund–Service | | | 2.77 | % | | | 1,000.00 | | | | 1,026.10 | | | | 14.11 | | | | 1,011.21 | | | | 14.00 | |
| Utilities UltraSector ProFund–Investor | | | 1.66 | % | | | 1,000.00 | | | | 1,231.20 | | | | 9.31 | | | | 1,016.79 | | | | 8.42 | |
| Utilities UltraSector ProFund–Service | | | 2.59 | % | | | 1,000.00 | | | | 1,225.60 | | | | 14.49 | | | | 1,012.12 | | | | 13.10 | |
| * | Expenses are equal to the average account value over the period multiplied by the Fund's annualized expense ratio, multiplied by 184/366 (the number of days in the most recent fiscal half-year divided by the number of days in the fiscal year. |
This Page Intentionally Left Blank
Schedules of Portfolio Investments
32 :: Banks UltraSector ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks (74.4%)
| | | Shares | | | Value | |
| Associated Banc-Corp. (Banks) | | | 833 | | | $ | 16,602 | |
| BancorpSouth Bank (Banks) | | | 501 | | | | 14,314 | |
| Bank of America Corp. (Banks) | | | 42,331 | | | | 1,389,726 | |
| Bank of Hawaii Corp. (Banks) | | | 211 | | | | 18,906 | |
| Bank OZK (Banks) | | | 631 | | | | 17,151 | |
| BankUnited, Inc. (Banks) | | | 497 | | | | 16,401 | |
| BOK Financial Corp. (Banks) | | | 166 | | | | 13,097 | |
| Capitol Federal Financial, Inc. (Thrifts & Mortgage Finance) | | | 739 | | | | 9,740 | |
| Cathay General Bancorp (Banks) | | | 396 | | | | 14,280 | |
| CIT Group, Inc. (Banks) | | | 495 | | | | 22,626 | |
| Citigroup, Inc. (Banks) | | | 11,415 | | | | 849,390 | |
| Citizens Financial Group, Inc. (Banks) | | | 2,273 | | | | 84,737 | |
| Comerica, Inc. (Banks) | | | 754 | | | | 46,115 | |
| Commerce Bancshares, Inc. (Banks) | | | 542 | | | | 36,672 | |
| Cullen/Frost Bankers, Inc. (Banks) | | | 298 | | | | 26,570 | |
| East West Bancorp, Inc. (Banks) | | | 761 | | | | 34,884 | |
| F.N.B. Corp. (Banks) | | | 1,697 | | | | 19,804 | |
| Fifth Third Bancorp (Banks) | | | 3,710 | | | | 105,550 | |
| First Citizens BancShares, Inc.—Class A (Banks) | | | 46 | | | | 24,234 | |
| First Financial Bankshares, Inc. (Banks) | | | 710 | | | | 23,799 | |
| First Hawaiian, Inc. (Banks) | | | 684 | | | | 19,877 | |
| First Horizon National Corp. (Banks) | | | 1,626 | | | | 26,023 | |
| First Republic Bank (Banks) | | | 881 | | | | 97,685 | |
| Fulton Financial Corp. (Banks) | | | 858 | | | | 14,131 | |
| Glacier Bancorp, Inc. (Banks) | | | 448 | | | | 18,982 | |
| Hancock Whitney Corp. (Banks) | | | 456 | | | | 18,121 | |
| Home BancShares, Inc. (Banks) | | | 810 | | | | 15,487 | |
| Huntington Bancshares, Inc. (Banks) | | | 5,399 | | | | 73,264 | |
| IBERIABANK Corp. (Banks) | | | 273 | | | | 19,850 | |
| International Bancshares Corp. (Banks) | | | 300 | | | | 11,820 | |
| Investors Bancorp, Inc. (Banks) | | | 1,163 | | | | 14,055 | |
| JPMorgan Chase & Co. (Banks) | | | 16,400 | | | | 2,170,703 | |
| KeyCorp (Banks) | | | 5,149 | | | | 96,338 | |
| M&T Bank Corp. (Banks) | | | 691 | | | | 116,447 | |
| New York Community Bancorp, Inc. (Thrifts & Mortgage Finance) | | | 2,442 | | | | 27,009 | |
| PacWest Bancorp (Banks) | | | 626 | | | | 21,941 | |
| People's United Financial, Inc. (Banks) | | | 2,322 | | | | 35,805 | |
| Pinnacle Financial Partners, Inc. (Banks) | | | 376 | | | | 22,207 | |
| Popular, Inc. (Banks) | | | 506 | | | | 28,316 | |
| Prosperity Bancshares, Inc. (Banks) | | | 493 | | | | 34,609 | |
| Regions Financial Corp. (Banks) | | | 5,043 | | | | 78,520 | |
| Signature Bank (Banks) | | | 282 | | | | 40,013 | |
| Sterling Bancorp (Banks) | | | 1,056 | | | | 21,120 | |
| SVB Financial Group* (Banks) | | | 270 | | | | 64,889 | |
| Synovus Financial Corp. (Banks) | | | 766 | | | | 26,825 | |
| TCF Financial Corp. (Banks) | | | 802 | | | | 33,909 | |
| Texas Capital Bancshares, Inc.* (Banks) | | | 264 | | | | 14,509 | |
| TFS Financial Corp. (Thrifts & Mortgage Finance) | | | 263 | | | | 5,373 | |
| The PNC Financial Services Group, Inc (Banks) | | | 2,291 | | | | 340,328 | |
| Truist Financial Corp. (Banks) | | | 7,012 | | | | 361,609 | |
| Trustmark Corp. (Banks) | | | 336 | | | | 10,745 | |
| U.S. Bancorp (Banks) | | | 7,431 | | | | 395,478 | |
| UMB Financial Corp. (Banks) | | | 226 | | | | 15,020 | |
| Umpqua Holdings Corp. (Banks) | | | 1,151 | | | | 19,452 | |
| United Bankshares, Inc. (Banks) | | | 531 | | | | 18,213 | |
| Valley National Bancorp (Banks) | | | 2,047 | | | | 21,555 | |
| Washington Federal, Inc. (Thrifts & Mortgage Finance) | | | 409 | | | | 13,906 | |
| Webster Financial Corp. (Banks) | | | 482 | | | | 21,623 | |
| Wells Fargo & Co. (Banks) | | | 20,124 | | | | 944,620 | |
| Western Alliance Bancorp (Banks) | | | 494 | | | | 27,284 | |
| Wintrust Financial Corp. (Banks) | | | 298 | | | | 18,857 | |
| Zions Bancorp (Banks) | | | 891 | | | | 40,532 | |
TOTAL COMMON STOCKS
(Cost $2,109,867) | | | | | | | 8,201,648 | |
Repurchase Agreements(a)(b) (30.5%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $3,355,407 | | $ | 3,355,000 | | | $ | 3,355,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $3,355,000) | | | | | | | 3,355,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $5,464,867)—104.9% | | | | | | | 11,556,648 | |
| Net other assets (liabilities) —(4.9)% | | | | | | | (541,855 | ) |
| NET ASSETS—100.0% | | | | | | $ | 11,014,793 | |
| * | Non-income producing security. |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See “Repurchase Agreements” under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $1,855,000. |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Banks UltraSector ProFund :: 33
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Dow Jones U.S. Banks Index | | Goldman Sachs International | | 2/24/20 | | | 2.09 | % | | $ | 1,912,786 | | | $ | (252,787 | ) |
| Dow Jones U.S. Banks Index | | UBS AG | | 2/24/20 | | | 1.94 | % | | | 6,387,847 | | | | (403,835 | ) |
| | | | | | | | | | | $ | 8,300,633 | | | $ | (656,622 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
Banks UltraSector ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Banks | | $ | 8,145,620 | | | | 73.9 | % |
| Thrifts & Mortgage Finance | | | 56,028 | | | | 0.5 | % |
| Other** | | | 2,813,145 | | | | 25.6 | % |
| Total | | $ | 11,014,793 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
See accompanying notes to the financial statements.
34 :: Basic Materials UltraSector ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks (81.7%)
| | | Shares | | | Value | |
| Air Products & Chemicals, Inc. (Chemicals) | | | 1,149 | | | $ | 274,279 | |
| Albemarle Corp. (Chemicals) | | | 553 | | | | 44,395 | |
| Alcoa Corp.* (Metals & Mining) | | | 967 | | | | 13,490 | |
| Allegheny Technologies, Inc.* (Metals & Mining) | | | 657 | | | | 11,333 | |
| Ashland Global Holdings, Inc. (Chemicals) | | | 314 | | | | 23,230 | |
| Axalta Coating Systems, Ltd.* (Chemicals) | | | 1,088 | | | | 31,345 | |
| Cabot Corp. (Chemicals) | | | 297 | | | | 11,835 | |
| Carpenter Technology Corp. (Metals & Mining) | | | 249 | | | | 9,895 | |
| Celanese Corp. (Chemicals) | | | 630 | | | | 65,205 | |
| CF Industries Holdings, Inc. (Chemicals) | | | 1,133 | | | | 45,637 | |
| Commercial Metals Co. (Metals & Mining) | | | 618 | | | | 12,700 | |
| Corteva, Inc. (Chemicals) | | | 3,900 | | | | 112,788 | |
| Domtar Corp. (Paper & Forest Products) | | | 298 | | | | 10,376 | |
| Dow, Inc. (Chemicals) | | | 3,864 | | | | 178,014 | |
| DuPont de Nemours, Inc. (Chemicals) | | | 3,861 | | | | 197,606 | |
| Eastman Chemical Co. (Chemicals) | | | 709 | | | | 50,530 | |
| Ecolab, Inc. (Chemicals) | | | 1,307 | | | | 256,316 | |
| Element Solutions, Inc.* (Chemicals) | | | 1,152 | | | | 13,478 | |
| FMC Corp. (Chemicals) | | | 675 | | | | 64,523 | |
| Freeport-McMoRan, Inc. (Metals & Mining) | | | 7,562 | | | | 83,938 | |
| H.B. Fuller Co. (Chemicals) | | | 266 | | | | 12,292 | |
| Huntsman Corp. (Chemicals) | | | 1,046 | | | | 21,506 | |
| Ingevity Corp.* (Chemicals) | | | 218 | | | | 14,218 | |
| International Flavors & Fragrances, Inc.(a)(Chemicals) | | | 556 | | | | 72,897 | |
| Linde PLC (Chemicals) | | | 2,800 | | | | 568,765 | |
| LyondellBasell Industries N.V.—Class A (Chemicals) | | | 1,338 | | | | 104,177 | |
| NewMarket Corp. (Chemicals) | | | 38 | | | | 16,706 | |
| Newmont Corp. (Metals & Mining) | | | 4,273 | | | | 192,542 | |
| Nucor Corp. (Metals & Mining) | | | 1,580 | | | | 75,034 | |
| Olin Corp. (Chemicals) | | | 832 | | | | 12,372 | |
| Peabody Energy Corp. (Oil, Gas & Consumable Fuels) | | | 373 | | | | 2,521 | |
| PolyOne Corp. (Chemicals) | | | 401 | | | | 13,305 | |
| PPG Industries, Inc. (Chemicals) | | | 1,232 | | | | 147,643 | |
| Reliance Steel & Aluminum Co. (Metals & Mining) | | | 347 | | | | 39,836 | |
| Royal Gold, Inc. (Metals & Mining) | | | 342 | | | | 39,439 | |
| RPM International, Inc. (Chemicals) | | | 676 | | | | 48,246 | |
| Sensient Technologies Corp. (Chemicals) | | | 221 | | | | 13,205 | |
| Steel Dynamics, Inc. (Metals & Mining) | | | 1,123 | | | | 33,555 | |
| The Chemours Co. (Chemicals) | | | 852 | | | | 11,817 | |
| The Mosaic Co. (Chemicals) | | | 1,822 | | | | 36,148 | |
| The Scotts Miracle-Gro Co.—Class A (Chemicals) | | | 206 | | | | 25,284 | |
| United States Steel Corp.(a) (Metals & Mining) | | | 886 | | | | 8,036 | |
| Valvoline, Inc. (Chemicals) | | | 982 | | | | 20,701 | |
| W.R. Grace & Co. (Chemicals) | | | 292 | | | | 19,669 | |
| Westlake Chemical Corp. (Chemicals) | | | 181 | | | | 11,077 | |
| Worthington Industries, Inc. (Metals & Mining) | | | 192 | | | | 7,062 | |
TOTAL COMMON STOCKS
(Cost $1,296,818) | | | | | | | 3,078,966 | |
Repurchase Agreements(b)(c) (30.1%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $1,135,138 | | $ | 1,135,000 | | | $ | 1,135,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $1,135,000) | | | | | | | 1,135,000 | |
Collateral for Securities Loaned (2.0%)
| | | Shares | | | Value | |
| BlackRock Liquidity Funds FedFund Portfolio—Institutional Shares, 1.81%(d) | | | 33,003 | | | $ | 33,003 | |
| Invesco Government & Agency Portfolio—Institutional Shares, 1.77%(d) | | | 10,113 | | | | 10,113 | |
| Fidelity Investments Money Market Government Portfolio—Class I, 1.80%(d) | | | 31,400 | | | | 31,400 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $74,516) | | | | | | | 74,516 | |
TOTAL INVESTMENT SECURITIES
(Cost $2,506,334)—113.8% | | | | | | | 4,288,482 | |
| Net other assets (liabilities)—(13.8)% | | | | | | | (521,047 | ) |
| NET ASSETS — 100.0% | | | | | | $ | 3,767,435 | |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2020. The total value of securities on loan as of January 31, 2020 was $71,593. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See “Repurchase Agreements” under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (c) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $514,000. |
| (d) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2020. |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Basic Materials UltraSector ProFund :: 35
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Dow Jones U.S. Basic Materials Index | | Goldman Sachs International | | 2/24/20 | | | 2.09 | % | | $ | 1,270,845 | | | $ | (73,791 | ) |
| Dow Jones U.S. Basic Materials Index | | UBS AG | | 2/24/20 | | | 1.94 | % | | | 1,301,708 | | | | (64,041 | ) |
| | | | | | | | | | | $ | 2,572,553 | | | $ | (137,832 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
Basic Materials UltraSector ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Chemicals | | $ | 2,539,209 | | | | 67.3 | % |
| Metals & Mining | | | 526,860 | | | | 14.0 | % |
| Oil, Gas & Consumable Fuels | | | 2,521 | | | | 0.1 | % |
| Paper & Forest Products | | | 10,376 | | | | 0.3 | % |
| Other** | | | 688,469 | | | | 18.3 | % |
| Total | | $ | 3,767,435 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
See accompanying notes to the financial statements.
36 :: Bear ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Repurchase Agreements(a)(b) (94.5%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $14,165,719 | | $ | 14,164,000 | | | $ | 14,164,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $14,164,000) | | | | | | | 14,164,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $14,164,000)—94.5% | | | | | | | 14,164,000 | |
| Net other assets (liabilities)—5.5% | | | | | | | 822,976 | |
| NET ASSETS —100.0% | | | | | | $ | 14,986,976 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See “Repurchase Agreements” under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $2,514,000. |
Futures Contracts Sold
| | | Number
of
Contracts | | Expiration
Date | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini S&P 500 Futures Contracts | | 7 | | 3/23/20 | | $ | (1,127,875 | ) | | $ | (18,089 | ) |
Total Return Swap Agreements—Short
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| S&P 500 | | Goldman Sachs International | | 2/27/20 | | | (1.94 | )% | | $ | (4,964,080 | ) | | $ | 24,261 | |
| S&P 500 | | UBS AG | | 2/27/20 | | | (1.74 | )% | | | (8,901,978 | ) | | | 42,956 | |
| | | | | | | | | | | $ | (13,866,058 | ) | | $ | 67,217 | |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Biotechnology UltraSector ProFund :: 37
Common Stocks (79.9%)
| | | Shares | | | Value | |
| AbbVie, Inc. (Biotechnology) | | | 255,576 | | | $ | 20,706,768 | |
| ACADIA Pharmaceuticals, Inc.* (Biotechnology) | | | 19,431 | | | | 776,074 | |
| Agilent Technologies, Inc. (Life Sciences Tools & Services) | | | 53,484 | | | | 4,415,639 | |
| Agios Pharmaceuticals, Inc.* (Biotechnology) | | | 10,209 | | | | 497,485 | |
| Alexion Pharmaceuticals, Inc.* (Biotechnology) | | | 38,245 | | | | 3,801,171 | |
| Alkermes PLC* (Biotechnology) | | | 27,223 | | | | 473,952 | |
| Allogene Therapeutics, Inc.* (Biotechnology) | | | 8,849 | | | | 192,200 | |
| Alnylam Pharmaceuticals, Inc.* (Biotechnology) | | | 19,267 | | | | 2,211,659 | |
| Amgen, Inc. (Biotechnology) | | | 102,688 | | | | 22,185,742 | |
| Avantor, Inc.* (Life Sciences Tools & Services) | | | 38,536 | | | | 711,760 | |
| Biogen, Inc.* (Biotechnology) | | | 31,184 | | | | 8,383,818 | |
| BioMarin Pharmaceutical, Inc.* (Biotechnology) | | | 31,043 | | | | 2,592,091 | |
| Bio-Techne Corp. (Life Sciences Tools & Services) | | | 6,587 | | | | 1,383,072 | |
| Bluebird Bio, Inc.* (Biotechnology) | | | 9,562 | | | | 761,996 | |
| Blueprint Medicines Corp.* (Biotechnology) | | | 8,503 | | | | 539,515 | |
| Charles River Laboratories International, Inc.* (Life Sciences Tools & Services) | | | 8,441 | | | | 1,304,810 | |
| Exact Sciences Corp.* (Biotechnology) | | | 24,172 | | | | 2,254,764 | |
| Exelixis, Inc.* (Biotechnology) | | | 52,512 | | | | 903,206 | |
| FibroGen, Inc.* (Biotechnology) | | | 13,572 | | | | 567,988 | |
| Gilead Sciences, Inc. (Biotechnology) | | | 218,648 | | | | 13,818,554 | |
| Illumina, Inc.* (Life Sciences Tools & Services) | | | 25,406 | | | | 7,369,517 | |
| Immunomedics, Inc.* (Biotechnology) | | | 31,711 | | | | 588,873 | |
| Incyte Corp.* (Biotechnology) | | | 30,899 | | | | 2,257,790 | |
| Intercept Pharmaceuticals, Inc.* (Biotechnology) | | | 4,356 | | | | 402,538 | |
| Ionis Pharmaceuticals, Inc.* (Biotechnology) | | | 22,123 | | | | 1,290,213 | |
| IQVIA Holdings, Inc.* (Life Sciences Tools & Services) | | | 31,186 | | | | 4,841,627 | |
| Mettler-Toledo International, Inc.* (Life Sciences Tools & Services) | | | 4,209 | | | | 3,186,971 | |
| Moderna, Inc.* (Biotechnology) | | | 35,708 | | | | 732,371 | |
| Myriad Genetics, Inc.* (Biotechnology) | | | 12,855 | | | | 355,441 | |
| Nektar Therapeutics* (Pharmaceuticals) | | | 30,405 | | | | 604,755 | |
| Neurocrine Biosciences, Inc.* (Biotechnology) | | | 15,916 | | | | 1,592,873 | |
| Portola Pharmaceuticals, Inc.* (Biotechnology) | | | 12,140 | | | | 155,271 | |
| PRA Health Sciences, Inc.* (Life Sciences Tools & Services) | | | 10,931 | | | | 1,107,420 | |
| Regeneron Pharmaceuticals, Inc.* (Biotechnology) | | | 13,804 | | | | 4,664,924 | |
| Repligen Corp.* (Biotechnology) | | | 8,099 | | | | 813,059 | |
| Sage Therapeutics, Inc.* (Biotechnology) | | | 8,956 | | | | 593,604 | |
| Sarepta Therapeutics, Inc.* (Biotechnology) | | | 12,239 | | | | 1,419,234 | |
| Seattle Genetics, Inc.* (Biotechnology) | | | 19,846 | | | | 2,151,108 | |
| Syneos Health, Inc.* (Life Sciences Tools & Services) | | | 10,763 | | | | 660,418 | |
| Ultragenyx Pharmaceutical, Inc.* (Biotechnology) | | | 9,385 | | | | 493,182 | |
| United Therapeutics Corp.* (Biotechnology) | | | 7,584 | | | | 740,729 | |
| Vertex Pharmaceuticals, Inc.* (Biotechnology) | | | 44,442 | | | | 10,090,556 | |
TOTAL COMMON STOCKS
(Cost $73,703,469) | | | | | | | 134,594,738 | |
Repurchase Agreements(a)(b) (24.5%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $41,234,005 | | $ | 41,229,000 | | | $ | 41,229,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $41,229,000) | | | | | | | 41,229,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $114,932,469)—104.4% | | | | | | | 175,823,738 | |
| Net other assets (liabilities)—(4.4)% | | | | | | | (7,396,919 | ) |
| NET ASSETS—100.0% | | | | | | $ | 168,426,819 | |
| * | Non-income producing security. |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $28,184,000. |
See accompanying notes to the financial statements.
38 :: Biotechnology UltraSector ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Dow Jones U.S. Biotechnology Index | | Goldman Sachs International | | 2/24/20 | | 2.09 | % | | $ | 53,070,089 | | | $ | (3,259,283 | ) |
| Dow Jones U.S. Biotechnology Index | | UBS AG | | 2/24/20 | | 2.09 | % | | | 64,817,372 | | | | (3,668,227 | ) |
| | | | | | | | | | $ | 117,887,461 | | | $ | (6,927,510 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
Biotechnology UltraSector ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Biotechnology | | $ | 109,008,749 | | | | 64.7 | % |
| Life Sciences Tools & Services | | | 24,981,234 | | | | 14.8 | % |
| Pharmaceuticals | | | 604,755 | | | | 0.4 | % |
| Other** | | | 33,832,081 | | | | 20.1 | % |
| Total | | $ | 168,426,819 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Summary Schedule of Portfolio Investments:: Bull ProFund :: 39
Common Stocks (71.4%)
| | | Percentage
of Net Assets | | | Shares | | | Value | |
| Abbott Laboratories (Health Care Equipment & Supplies) | | | 0.4 | % | | | 3,160 | | | $ | 275,363 | |
| Accenture PLC—Class A (IT Services) | | | 0.3 | % | | | 1,136 | | | | 233,119 | |
| Adobe, Inc.* (Software) | | | 0.5 | % | | | 866 | | | | 304,088 | |
| Alphabet, Inc.—Class A* (Interactive Media & Services) | | | 1.1 | % | | | 536 | | | | 767,970 | |
| Alphabet, Inc.—Class C* (Interactive Media & Services) | | | 1.1 | % | | | 534 | | | | 765,879 | |
| Amazon.com, Inc.* (Internet & Direct Marketing Retail) | | | 2.2 | % | | | 745 | | | | 1,496,496 | |
| Amgen, Inc. (Biotechnology) | | | 0.3 | % | | | 1,062 | | | | 229,446 | |
| Apple, Inc. (Technology Hardware, Storage & Peripherals) | | | 3.5 | % | | | 7,468 | | | | 2,311,421 | |
| AT&T, Inc. (Diversified Telecommunication Services) | | | 0.7 | % | | | 13,062 | | | | 491,393 | |
| Bank of America Corp. (Banks) | | | 0.7 | % | | | 14,476 | | | | 475,247 | |
| Berkshire Hathaway, Inc.— Class B* (Diversified Financial Services) | | | 1.2 | % | | | 3,498 | | | | 785,056 | |
| Bristol-Myers Squibb Co. (Pharmaceuticals) | | | 0.4 | % | | | 4,192 | | | | 263,886 | |
| Chevron Corp. (Oil, Gas & Consumable Fuels) | | | 0.5 | % | | | 3,381 | | | | 362,240 | |
| Cisco Systems, Inc. (Communications Equipment) | | | 0.5 | % | | | 7,586 | | | | 348,729 | |
| Citigroup, Inc. (Banks) | | | 0.4 | % | | | 3,904 | | | | 290,497 | |
| Comcast Corp.—Class A (Media) | | | 0.5 | % | | | 8,118 | | | | 350,615 | |
| Costco Wholesale Corp. (Food & Staples Retailing) | | | 0.4 | % | | | 790 | | | | 241,361 | |
| Exxon Mobil Corp. (Oil, Gas & Consumable Fuels) | | | 0.7 | % | | | 7,566 | | | | 470,000 | |
| Facebook, Inc.—Class A* (Interactive Media & Services) | | | 1.3 | % | | | 4,303 | | | | 868,818 | |
| Honeywell International, Inc. (Industrial Conglomerates) | | | 0.3 | % | | | 1,278 | | | | 221,375 | |
| Intel Corp. (Semiconductors & Semiconductor Equipment) | | | 0.7 | % | | | 7,778 | | | | 497,249 | |
| International Business Machines Corp. (IT Services) | | | 0.3 | % | | | 1,584 | | | | 227,668 | |
| Johnson & Johnson (Pharmaceuticals) | | | 1.0 | % | | | 4,706 | | | | 700,583 | |
| JPMorgan Chase & Co. (Banks) | | | 1.1 | % | | | 5,608 | | | | 742,276 | |
| MasterCard, Inc.—Class A (IT Services) | | | 0.7 | % | | | 1,587 | | | | 501,396 | |
| McDonald's Corp. (Hotels, Restaurants & Leisure) | | | 0.4 | % | | | 1,347 | | | | 288,218 | |
| Medtronic PLC (Health Care Equipment & Supplies) | | | 0.4 | % | | | 2,397 | | | | 276,711 | |
| Merck & Co., Inc. (Pharmaceuticals) | | | 0.6 | % | | | 4,553 | | | | 389,008 | |
| Microsoft Corp. (Software) | | | 3.5 | % | | | 13,641 | | | | 2,322,108 | |
| Netflix, Inc.* (Entertainment) | | | 0.4 | % | | | 784 | | | | 270,551 | |
| NextEra Energy, Inc. (Electric Utilities) | | | 0.3 | % | | | 874 | | | | 234,407 | |
| NVIDIA Corp. (Semiconductors & Semiconductor Equipment) | | | 0.4 | % | | | 1,094 | | | | 258,654 | |
| PayPal Holdings, Inc.* (IT Services) | | | 0.4 | % | | | 2,100 | | | | 239,169 | |
| PepsiCo, Inc. (Beverages) | | | 0.5 | % | | | 2,493 | | | | 354,056 | |
| Pfizer, Inc. (Pharmaceuticals) | | | 0.6 | % | | | 9,896 | | | | 368,527 | |
| Philip Morris International, Inc. (Tobacco) | | | 0.3 | % | | | 2,782 | | | | 230,072 | |
| Salesforce.com, Inc.* (Software) | | | 0.4 | % | | | 1,586 | | | | 289,144 | |
| The Boeing Co. (Aerospace & Defense) | | | 0.5 | % | | | 956 | | | | 304,267 | |
| The Coca-Cola Co. (Beverages) | | | 0.6 | % | | | 6,895 | | | | 402,667 | |
| The Home Depot, Inc. (Specialty Retail) | | | 0.7 | % | | | 1,951 | | | | 445,022 | |
| The Procter & Gamble Co. (Household Products) | | | 0.8 | % | | | 4,459 | | | | 555,680 | |
| The Walt Disney Co. (Entertainment) | | | 0.7 | % | | | 3,223 | | | | 445,773 | |
| Thermo Fisher Scientific, Inc. (Life Sciences Tools & Services) | | | 0.3 | % | | | 717 | | | | 224,556 | |
| Union Pacific Corp. (Road & Rail) | | | 0.3 | % | | | 1,241 | | | | 222,661 | |
| UnitedHealth Group, Inc. (Health Care Providers & Services) | | | 0.7 | % | | | 1,694 | | | | 461,531 | |
| Verizon Communications, Inc. (Diversified Telecommunication Services) | | | 0.7 | % | | | 7,395 | | | | 439,559 | |
| Visa, Inc.—Class A (IT Services) | | | 0.9 | % | | | 3,061 | | | | 609,046 | |
| Walmart, Inc. (Food & Staples Retailing) | | | 0.4 | % | | | 2,537 | | | | 290,461 | |
| Wells Fargo & Co. (Banks) | | | 0.5 | % | | | 6,882 | | | | 323,041 | |
| Other Common Stocks(a) | | | 34.8 | % | | | 312,225 | | | | 23,321,853 | |
TOTAL COMMON STOCKS
(Cost $17,404,938) | | | | | | | | | | | 47,788,913 | |
Repurchase Agreements(b)(c) (32.3%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $21,653,628 | | $ | 21,651,000 | | | $ | 21,651,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $21,651,000) | | | | | | | 21,651,000 | |
See accompanying notes to the financial statements.
40 :: Bull ProFund ::Summary Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Collateral for Securities Loaned(NM)
| | | Shares | | | Value | |
| BlackRock Liquidity Funds FedFund Portfolio—Institutional Shares, 1.81%(d) | | | 9,999 | | | $ | 9,999 | |
| Invesco Government & Agency Portfolio—Institutional Shares, 1.77%(d) | | | 3,064 | | | | 3,064 | |
| Fidelity Investments Money Market Government Portfolio—Class I, 1.80%(d) | | | 9,513 | | | | 9,513 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $22,576) | | | 22,576 | |
TOTAL INVESTMENT SECURITIES
(Cost $39,078,514)—103.7% | | | 69,462,489 | |
| Net other assets (liabilities)—(3.7)% | | | (2,485,668 | ) |
| NET ASSETS—100.0% | | $ | 66,976,821 | |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2020. The total value of securities on loan as of January 31, 2020 was $21,764. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $1,655,000. |
| (c) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (d) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2020. |
Futures Contracts Purchased
| | | | | | | | | | Value and | |
| | | Number
of
Contracts | | Expiration
Date | | Notional
Amount | | | Unrealized
Appreciation/
(Depreciation) | |
| E-Mini S&P 500 Futures Contracts | | 59 | | 3/23/20 | | $ | 9,506,375 | | | $ | 151,829 | |
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| S&P 500 | | Goldman Sachs International | | 2/27/20 | | 2.14 | % | | $ | 5,760,140 | | | $ | (24,613 | ) |
| S&P 500 | | UBS AG | | 2/27/20 | | 2.09 | % | | | 3,924,320 | | | | (33,140 | ) |
| | | | | | | | | | $ | 9,684,460 | | | $ | (57,753 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Summary Schedule of Portfolio Investments:: Bull ProFund :: 41
Bull ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 1,203,934 | | | | 1.8 | % |
| Air Freight & Logistics | | | 231,516 | | | | 0.3 | % |
| Airlines | | | 165,939 | | | | 0.2 | % |
| Auto Components | | | 51,317 | | | | 0.1 | % |
| Automobiles | | | 145,693 | | | | 0.2 | % |
| Banks | | | 2,493,519 | | | | 3.7 | % |
| Beverages | | | 899,427 | | | | 1.3 | % |
| Biotechnology | | | 888,968 | | | | 1.3 | % |
| Building Products | | | 127,577 | | | | 0.2 | % |
| Capital Markets | | | 1,320,093 | | | | 2.0 | % |
| Chemicals | | | 843,237 | | | | 1.3 | % |
| Commercial Services & Supplies | | | 209,324 | | | | 0.3 | % |
| Communications Equipment | | | 451,584 | | | | 0.7 | % |
| Construction & Engineering | | | 32,336 | | | | NM | |
| Construction Materials | | | 63,112 | | | | 0.1 | % |
| Consumer Finance | | | 315,577 | | | | 0.5 | % |
| Containers & Packaging | | | 164,963 | | | | 0.2 | % |
| Distributors | | | 42,240 | | | | 0.1 | % |
| Diversified Consumer Services | | | 8,097 | | | | NM | |
| Diversified Financial Services | | | 785,056 | | | | 1.2 | % |
| Diversified Telecommunication Services | | | 954,925 | | | | 1.4 | % |
| Electric Utilities | | | 1,053,225 | | | | 1.6 | % |
| Electrical Equipment | | | 227,226 | | | | 0.3 | % |
| Electronic Equipment, Instruments & Components | | | 252,705 | | | | 0.4 | % |
| Energy Equipment & Services | | | 176,834 | | | | 0.3 | % |
| Entertainment | | | 895,363 | | | | 1.3 | % |
| Equity Real Estate Investment Trusts | | | 1,382,733 | | | | 2.1 | % |
| Food & Staples Retailing | | | 713,441 | | | | 1.1 | % |
| Food Products | | | 544,186 | | | | 0.8 | % |
| Gas Utilities | | | 24,927 | | | | NM | |
| Health Care Equipment & Supplies | | | 1,714,373 | | | | 2.6 | % |
| Health Care Providers & Services | | | 1,282,321 | | | | 1.9 | % |
| Health Care Technology | | | 40,368 | | | | 0.1 | % |
| Hotels, Restaurants & Leisure | | | 889,876 | | | | 1.3 | % |
| Household Durables | | | 191,934 | | | | 0.3 | % |
| Household Products | | | 824,411 | | | | 1.2 | % |
| Independent Power and Renewable Electricity Producers | | | 40,174 | | | | 0.1 | % |
| Industrial Conglomerates | | | 649,898 | | | | 1.0 | % |
| Insurance | | | 1,109,576 | | | | 1.7 | % |
| Interactive Media & Services | | | 2,447,750 | | | | 3.7 | % |
| Internet & Direct Marketing Retail | | | 1,706,777 | | | | 2.5 | % |
| IT Services | | | 2,687,299 | | | | 3.9 | % |
| Leisure Products | | | 23,226 | | | | NM | |
| Life Sciences Tools & Services | | | 474,102 | | | | 0.7 | % |
| Machinery | | | 726,941 | | | | 1.1 | % |
| Media | | | 661,762 | | | | 1.0 | % |
| Metals & Mining | | | 120,591 | | | | 0.2 | % |
| Multiline Retail | | | 234,830 | | | | 0.4 | % |
| Multi-Utilities | | | 532,758 | | | | 0.8 | % |
| Oil, Gas & Consumable Fuels | | | 1,670,333 | | | | 2.5 | % |
| Personal Products | | | 83,101 | | | | 0.1 | % |
| Pharmaceuticals | | | 2,190,536 | | | | 3.3 | % |
| Professional Services | | | 161,865 | | | | 0.2 | % |
| Real Estate Management & Development | | | 36,569 | | | | 0.1 | % |
| Road & Rail | | | 494,509 | | | | 0.7 | % |
| Semiconductors & Semiconductor Equipment | | | 2,004,132 | | | | 3.0 | % |
| Software | | | 3,671,081 | | | | 5.5 | % |
| Specialty Retail | | | 1,073,750 | | | | 1.6 | % |
| Technology Hardware, Storage & Peripherals | | | 2,492,132 | | | | 3.7 | % |
| Textiles, Apparel & Luxury Goods | | | 327,649 | | | | 0.5 | % |
| Tobacco | | | 388,822 | | | | 0.6 | % |
| Trading Companies & Distributors | | | 77,578 | | | | 0.1 | % |
| Water Utilities | | | 43,993 | | | | 0.1 | % |
| Wireless Telecommunication Services | | | 44,822 | | | | 0.1 | % |
| Other** | | | 19,187,908 | | | | 28.6 | % |
| Total | | $ | 66,976,821 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
| NM | Not meaningful, amount is less than 0.05%. |
See accompanying notes to the financial statements.
42 :: Communication Services UltraSector ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks (78.4%)
| | | Shares | | | Value | |
| Activision Blizzard, Inc. (Entertainment) | | | 4,265 | | | $ | 249,417 | |
| Alphabet, Inc.*—Class A (Interactive Media & Services) | | | 476 | | | | 682,003 | |
| Alphabet, Inc.*—Class C (Interactive Media & Services) | | | 473 | | | | 678,391 | |
| AT&T, Inc. (Diversified Telecommunication Services) | | | 6,539 | | | | 245,997 | |
| CenturyLink, Inc. (Diversified Telecommunication Services) | | | 6,906 | | | | 94,336 | |
| Charter Communications, Inc.*—Class A (Media) | | | 527 | | | | 272,701 | |
| Comcast Corp.—Class A (Media) | | | 5,740 | | | | 247,911 | |
| Discovery, Inc.* (Media) | | | 1,113 | | | | 32,566 | |
| Discovery, Inc.*—Class C (Media) | | | 2,361 | | | | 65,565 | |
| Dish Network Corp.*—Class A (Media) | | | 1,793 | | | | 65,911 | |
| Electronic Arts, Inc.* (Entertainment) | | | 2,055 | | | | 221,776 | |
| Facebook, Inc.*—Class A (Interactive Media & Services) | | | 5,361 | | | | 1,082,440 | |
| Fox Corp.—Class A (Media) | | | 2,494 | | | | 92,478 | |
| Fox Corp.—Class B (Media) | | | 1,142 | | | | 41,489 | |
| Live Nation Entertainment, Inc.* (Entertainment) | | | 990 | | | | 67,478 | |
| Netflix, Inc.* (Entertainment) | | | 839 | | | | 289,531 | |
| News Corp.—Class A (Media) | | | 2,737 | | | | 37,278 | |
| News Corp.—Class B (Media) | | | 857 | | | | 11,972 | |
| Omnicom Group, Inc. (Media) | | | 1,532 | | | | 115,375 | |
| Take-Two Interactive Software, Inc.* (Entertainment) | | | 796 | | | | 99,213 | |
| The Interpublic Group of Cos., Inc. (Media) | | | 2,730 | | | | 61,971 | |
| The Walt Disney Co. (Entertainment) | | | 1,710 | | | | 236,510 | |
| T-Mobile U.S., Inc.* (Wireless Telecommunication Services) | | | 2,228 | | | | 176,435 | |
| Twitter, Inc.* (Interactive Media & Services) | | | 5,462 | | | | 177,406 | |
| Verizon Communications, Inc. (Diversified Telecommunication Services) | | | 4,115 | | | | 244,596 | |
| ViacomCBS, Inc.—Class B (Media) | | | 3,803 | | | | 129,796 | |
TOTAL COMMON STOCKS
(Cost $5,143,181) | | | | | | | 5,720,542 | |
Repurchase Agreements(a)(b) (26.4%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $1,921,233 | | $ | 1,921,000 | | | $ | 1,921,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $1,921,000) | | | | | | | 1,921,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $7,064,181)—104.8% | | | | | | | 7,641,542 | |
| Net other assets (liabilities)—(4.8)% | | | | | | | (352,334 | ) |
| NET ASSETS—100.0% | | | | | | $ | 7,289,208 | |
| * | Non-income producing security. |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $740,000. |
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| S&P Communication Services Select Sector Index | | Goldman Sachs International | | 2/24/20 | | 2.09 | % | | $ | 2,361,887 | | | $ | (140,856 | ) |
| S&P Communication Services Select Sector Index | | UBS AG | | 2/24/20 | | 1.94 | % | | | 2,832,064 | | | | (127,875 | ) |
| | | | | | | | | | $ | 5,193,951 | | | $ | (268,731 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
Communication Services UltraSector ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Diversified Telecommunication Services | | $ | 584,929 | | | | 8.0 | % |
| Entertainment | | | 1,163,925 | | | | 16.0 | % |
| Interactive Media & Services | | | 2,620,240 | | | | 35.8 | % |
| Media | | | 1,175,013 | | | | 16.2 | % |
| Wireless Telecommunication Services | | | 176,435 | | | | 2.4 | % |
| Other** | | | 1,568,666 | | | | 21.6 | % |
| Total | | $ | 7,289,208 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Consumer Goods UltraSector ProFund :: 43
Common Stocks (78.7%)
| | | Shares | | | Value | |
| Activision Blizzard, Inc. (Entertainment) | | | 1,959 | | | $ | 114,563 | |
| Adient PLC* (Auto Components) | | | 223 | | | | 5,733 | |
| Altria Group, Inc. (Tobacco) | | | 4,762 | | | | 226,338 | |
| Aptiv PLC (Auto Components) | | | 650 | | | | 55,114 | |
| Archer-Daniels-Midland Co. (Food Products) | | | 1,420 | | | | 63,559 | |
| Autoliv, Inc. (Auto Components) | | | 200 | | | | 15,326 | |
| Beyond Meat, Inc.* (Food Products) | | | 27 | | | | 2,981 | |
| BorgWarner, Inc. (Auto Components) | | | 528 | | | | 18,105 | |
| Brown-Forman Corp.—Class B (Beverages) | | | 465 | | | | 31,453 | |
| Brunswick Corp. (Leisure Products) | | | 207 | | | | 13,010 | |
| Bunge, Ltd. (Food Products) | | | 361 | | | | 18,927 | |
| Campbell Soup Co. (Food Products) | | | 432 | | | | 20,904 | |
| Capri Holdings, Ltd.* (Textiles, Apparel & Luxury Goods) | | | 387 | | | | 11,595 | |
| Carter's, Inc. (Textiles, Apparel & Luxury Goods) | | | 112 | | | | 11,880 | |
| Church & Dwight Co., Inc. (Household Products) | | | 625 | | | | 46,388 | |
| Colgate-Palmolive Co. (Household Products) | | | 2,186 | | | | 161,283 | |
| Columbia Sportswear Co. (Textiles, Apparel & Luxury Goods) | | | 75 | | | | 7,044 | |
| Conagra Brands, Inc. (Food Products) | | | 1,244 | | | | 40,952 | |
| Constellation Brands, Inc.—Class A (Beverages) | | | 427 | | | | 80,404 | |
| Coty, Inc.—Class A (Personal Products) | | | 754 | | | | 7,736 | |
| D.R. Horton, Inc. (Household Durables) | | | 856 | | | | 50,675 | |
| Dana, Inc. (Auto Components) | | | 368 | | | | 5,671 | |
| Darling Ingredients, Inc.* (Food Products) | | | 420 | | | | 11,395 | |
| Deckers Outdoor Corp.* (Textiles, Apparel & Luxury Goods) | | | 71 | | | | 13,555 | |
| Electronic Arts, Inc.* (Entertainment) | | | 744 | | | | 80,292 | |
| Energizer Holdings, Inc. (Household Products) | | | 166 | | | | 7,679 | |
| Flowers Foods, Inc. (Food Products) | | | 491 | | | | 10,571 | |
| Ford Motor Co. (Automobiles) | | | 9,928 | | | | 87,565 | |
| General Mills, Inc. (Food Products) | | | 1,541 | | | | 80,471 | |
| General Motors Co. (Automobiles) | | | 3,208 | | | | 107,115 | |
| Gentex Corp. (Auto Components) | | | 647 | | | | 19,261 | |
| Genuine Parts Co. (Distributors) | | | 370 | | | | 34,621 | |
| Hanesbrands, Inc. (Textiles, Apparel & Luxury Goods) | | | 922 | | | | 12,687 | |
| Harley-Davidson, Inc. (Automobiles) | | | 394 | | | | 13,160 | |
| Hasbro, Inc. (Leisure Products) | | | 324 | | | | 33,006 | |
| Helen of Troy, Ltd.* (Household Durables) | | | 64 | | | | 12,099 | |
| Herbalife Nutrition, Ltd.* (Personal Products) | | | 237 | | | | 9,207 | |
| Herman Miller, Inc. (Commercial Services & Supplies) | | | 152 | | | | 5,875 | |
| Hormel Foods Corp. (Food Products) | | | 710 | | | | 33,555 | |
| Ingredion, Inc. (Food Products) | | | 171 | | | | 15,048 | |
| Jefferies Financial Group, Inc. (Diversified Financial Services) | | | 644 | | | | 13,936 | |
| Kellogg Co. (Food Products) | | | 636 | | | | 43,382 | |
| Keurig Dr Pepper, Inc. (Beverages) | | | 683 | | | | 19,486 | |
| Kimberly-Clark Corp. (Household Products) | | | 873 | | | | 125,049 | |
| Lamb Weston Holding, Inc. (Food Products) | | | 372 | | | | 33,967 | |
| Lancaster Colony Corp. (Food Products) | | | 51 | | | | 7,887 | |
| Lear Corp. (Auto Components) | | | 141 | | | | 17,368 | |
| Leggett & Platt, Inc. (Household Durables) | | | 337 | | | | 16,038 | |
| Lennar Corp.—Class A (Household Durables) | | | 715 | | | | 47,447 | |
| Lennar Corp.—Class B (Household Durables) | | | 41 | | | | 2,153 | |
| Levi Strauss & Co. (Textiles, Apparel & Luxury Goods) | | | 109 | | | | 2,141 | |
| Lululemon Athletica, Inc.* (Textiles, Apparel & Luxury Goods) | | | 306 | | | | 73,252 | |
| Mattel, Inc.* (Leisure Products) | | | 885 | | | | 12,948 | |
| McCormick & Co., Inc. (Food Products) | | | 315 | | | | 51,462 | |
| Mohawk Industries, Inc.* (Household Durables) | | | 152 | | | | 20,015 | |
| Molson Coors Beverage Co.—Class B (Beverages) | | | 478 | | | | 26,567 | |
| Mondelez International, Inc.—Class A (Food Products) | | | 3,671 | | | | 210,642 | |
| Monster Beverage Corp.* (Beverages) | | | 975 | | | | 64,935 | |
| National Beverage Corp.* (Beverages) | | | 31 | | | | 1,330 | |
| Newell Brands, Inc. (Household Durables) | | | 972 | | | | 18,983 | |
| NIKE, Inc.—Class B (Textiles, Apparel & Luxury Goods) | | | 3,176 | | | | 305,848 | |
| Nu Skin Enterprises, Inc.—Class A (Personal Products) | | | 142 | | | | 4,628 | |
| NVR, Inc.* (Household Durables) | | | 9 | | | | 34,353 | |
| PepsiCo, Inc. (Beverages) | | | 3,553 | | | | 504,597 | |
| Performance Food Group Co.* (Food & Staples Retailing) | | | 268 | | | | 13,880 | |
| Philip Morris International, Inc. (Tobacco) | | | 3,966 | | | | 327,988 | |
| Pilgrim's Pride Corp.* (Food Products) | | | 134 | | | | 3,491 | |
| Polaris, Inc. (Leisure Products) | | | 147 | | | | 13,500 | |
| Pool Corp. (Distributors) | | | 100 | | | | 21,930 | |
| Post Holdings, Inc.* (Food Products) | | | 170 | | | | 17,777 | |
| PulteGroup, Inc. (Household Durables) | | | 651 | | | | 29,067 | |
| PVH Corp. (Textiles, Apparel & Luxury Goods) | | | 188 | | | | 16,388 | |
| Ralph Lauren Corp. (Textiles, Apparel & Luxury Goods) | | | 127 | | | | 14,415 | |
| Skechers U.S.A., Inc.*—Class A (Textiles, Apparel & Luxury Goods) | | | 344 | | | | 12,862 | |
| Spectrum Brands Holdings, Inc. (Household Products) | | | 119 | | | | 7,308 | |
| Stanley Black & Decker, Inc. (Machinery) | | | 387 | | | | 61,661 | |
| Steven Madden, Ltd. (Textiles, Apparel & Luxury Goods) | | | 198 | | | | 7,635 | |
| Take-Two Interactive Software, Inc.* (Entertainment) | | | 288 | | | | 35,896 | |
| Tapestry, Inc. (Textiles, Apparel & Luxury Goods) | | | 704 | | | | 18,142 | |
| Tempur Sealy International, Inc.* (Household Durables) | | | 116 | | | | 10,628 | |
| Tesla , Inc.* (Automobiles) | | | 362 | | | | 235,506 | |
| The Boston Beer Co, Inc.*—Class A (Beverages) | | | 24 | | | | 8,553 | |
| The Clorox Co. (Household Products) | | | 320 | | | | 50,339 | |
| The Coca-Cola Co. (Beverages) | | | 9,830 | | | | 574,072 | |
| The Estee Lauder Co., Inc. (Personal Products) | | | 566 | | | | 110,461 | |
| The Goodyear Tire & Rubber Co. (Auto Components) | | | 594 | | | | 7,799 | |
| The Hain Celestial Group, Inc.* (Food Products) | | | 205 | | | | 4,963 | |
| The Hershey Co. (Food Products) | | | 379 | | | | 58,809 | |
| The JM Smucker Co.—Class A (Food Products) | | | 291 | | | | 30,151 | |
| The Kraft Heinz Co. (Food Products) | | | 1,590 | | | | 46,428 | |
| The Procter & Gamble Co. (Household Products) | | | 6,357 | | | | 792,209 | |
See accompanying notes to the financial statements.
44 :: Consumer Goods UltraSector ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Thor Industries, Inc. (Automobiles) | | | 142 | | | $ | 11,434 | |
| Toll Brothers, Inc. (Household Durables) | | | 330 | | | | 14,639 | |
| TreeHouse Foods, Inc.* (Food Products) | | | 145 | | | | 6,467 | |
| Tyson Foods, Inc.—Class A (Food Products) | | | 752 | | | | 62,138 | |
| Under Armour, Inc.*—Class A (Textiles, Apparel & Luxury Goods) | | | 480 | | | | 9,686 | |
| Under Armour, Inc.*—Class C (Textiles, Apparel & Luxury Goods) | | | 497 | | | | 8,926 | |
| US Foods Holding Corp.* (Food & Staples Retailing) | | | 560 | | | | 22,495 | |
| Veoneer, Inc.* (Auto Components) | | | 256 | | | | 3,336 | |
| VF Corp. (Textiles, Apparel & Luxury Goods) | | | 834 | | | | 69,197 | |
| WABCO Holdings, Inc.* (Machinery) | | | 131 | | | | 17,770 | |
| Whirlpool Corp. (Household Durables) | | | 162 | | | | 23,680 | |
| Wolverine World Wide, Inc. (Textiles, Apparel & Luxury Goods) | | | 208 | | | | 6,567 | |
| Zynga, Inc.* (Entertainment) | | | 2,412 | | | | 14,520 | |
TOTAL COMMON STOCKS
(Cost $4,061,575) | | | | | | | 6,057,930 | |
Repurchase Agreements(a)(b) (25.9%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $1,996,242 | | $ | 1,996,000 | | | $ | 1,996,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $1,996,000) | | | | | | | 1,996,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $6,057,575)—104.6% | | | | | | | 8,053,930 | |
| Net other assets (liabilities)—(4.6)% | | | | | | | (354,849 | ) |
| NET ASSETS—100.0% | | | | | | $ | 7,699,081 | |
| * | Non-income producing security. |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $1,124,000. |
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Dow Jones U.S. Consumer Goods Index | | Goldman Sachs International | | 2/24/20 | | 2.09 | % | | $ | 2,922,950 | | | $ | (63,981 | ) |
| Dow Jones U.S. Consumer Goods Index | | UBS AG | | 2/24/20 | | 1.94 | % | | | 2,601,669 | | | | (46,666 | ) |
| | | | | | | | | | $ | 5,524,619 | | | $ | (110,647 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
Consumer Goods UltraSector ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Auto Components | | $ | 147,713 | | | | 1.9 | % |
| Automobiles | | | 454,780 | | | | 5.9 | % |
| Beverages | | | 1,311,397 | | | | 17.1 | % |
| Commercial Services & Supplies | | | 5,875 | | | | 0.1 | % |
| Distributors | | | 56,551 | | | | 0.7 | % |
| Diversified Financial Services | | | 13,936 | | | | 0.2 | % |
| Entertainment | | | 245,271 | | | | 3.2 | % |
| Food & Staples Retailing | | | 36,375 | | | | 0.5 | % |
| Food Products | | | 875,927 | | | | 11.4 | % |
| Household Durables | | | 279,777 | | | | 3.6 | % |
| Household Products | | | 1,190,255 | | | | 15.5 | % |
| Leisure Products | | | 72,464 | | | | 0.9 | % |
| Machinery | | | 79,431 | | | | 1.0 | % |
| Personal Products | | | 132,032 | | | | 1.7 | % |
| Textiles, Apparel & Luxury Goods | | | 601,820 | | | | 7.8 | % |
| Tobacco | | | 554,326 | | | | 7.2 | % |
| Other** | | | 1,641,151 | | | | 21.3 | % |
| Total | | $ | 7,699,081 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Consumer Services UltraSector ProFund :: 45
Common Stocks (79.8%)
| | | Shares | | | Value | |
| Aaron's, Inc. (Specialty Retail) | | | 676 | | | $ | 40,127 | |
| Adtalem Global Education, Inc.* (Diversified Consumer Services) | | | 544 | | | | 18,773 | |
| Advance Auto Parts, Inc. (Specialty Retail) | | | 697 | | | | 91,830 | |
| Alaska Air Group, Inc. (Airlines) | | | 1,240 | | | | 80,092 | |
| Allegiant Travel Co. (Airlines) | | | 133 | | | | 22,349 | |
| Altice USA, Inc.* (Media) | | | 3,111 | | | | 85,117 | |
| Amazon.com, Inc.* (Internet & Direct Marketing Retail) | | | 4,193 | | | | 8,422,564 | |
| AMC Networks, Inc.*—Class A (Media) | | | 444 | | | | 16,246 | |
| AMERCO (Road & Rail) | | | 81 | | | | 30,073 | |
| American Airlines Group, Inc. (Airlines) | | | 3,926 | | | | 105,374 | |
| American Eagle Outfitters, Inc. (Specialty Retail) | | | 1,600 | | | | 23,040 | |
| AmerisourceBergen Corp. (Health Care Providers & Services) | | | 1,514 | | | | 129,538 | |
| Aramark (Hotels, Restaurants & Leisure) | | | 2,512 | | | | 110,880 | |
| AutoNation, Inc.* (Specialty Retail) | | | 593 | | | | 25,167 | |
| AutoZone, Inc.* (Specialty Retail) | | | 240 | | | | 253,910 | |
| Avis Budget Group, Inc.* (Road & Rail) | | | 573 | | | | 18,794 | |
| Beacon Roofing Supply, Inc.* (Trading Companies & Distributors) | | | 691 | | | | 22,879 | |
| Best Buy Co., Inc. (Specialty Retail) | | | 2,293 | | | | 194,194 | |
| Booking Holdings, Inc.* (Internet & Direct Marketing Retail) | | | 422 | | | | 772,492 | |
| Boyd Gaming Corp. (Hotels, Restaurants & Leisure) | | | 806 | | | | 24,059 | |
| Bright Horizons Family Solutions, Inc.* (Diversified Consumer Services) | | | 587 | | | | 96,111 | |
| Burlington Stores, Inc.* (Specialty Retail) | | | 668 | | | | 145,270 | |
| Cable One, Inc. (Media) | | | 50 | | | | 85,202 | |
| Caesars Entertainment Corp.* (Hotels, Restaurants & Leisure) | | | 5,621 | | | | 76,839 | |
| Cardinal Health, Inc. (Health Care Providers & Services) | | | 2,945 | | | | 150,813 | |
| CarMax, Inc.* (Specialty Retail) | | | 1,656 | | | | 160,698 | |
| Carnival Corp.—Class A (Hotels, Restaurants & Leisure) | | | 4,033 | | | | 175,556 | |
| Carvana Co.* (Specialty Retail) | | | 507 | | | | 40,180 | |
| Casey's General Stores, Inc. (Food & Staples Retailing) | | | 370 | | | | 59,518 | |
| Charter Communications, Inc.*—Class A (Media) | | | 1,579 | | | | 817,068 | |
| Chegg, Inc.* (Diversified Consumer Services) | | | 1,158 | | | | 47,744 | |
| Chipotle Mexican Grill, Inc.* (Hotels, Restaurants & Leisure) | | | 258 | | | | 223,624 | |
| Choice Hotels International, Inc. (Hotels, Restaurants & Leisure) | | | 320 | | | | 32,064 | |
| Churchill Downs, Inc. (Hotels, Restaurants & Leisure) | | | 357 | | | | 51,544 | |
| Cinemark Holdings, Inc. (Entertainment) | | | 1,074 | | | | 33,842 | |
| Comcast Corp.—Class A (Media) | | | 45,714 | | | | 1,974,387 | |
| Copart, Inc.* (Commercial Services & Supplies) | | | 2,060 | | | | 209,008 | |
| Costco Wholesale Corp. (Food & Staples Retailing) | | | 4,449 | | | | 1,359,258 | |
| Cracker Barrel Old Country Store, Inc. (Hotels, Restaurants & Leisure) | | | 242 | | | | 37,009 | |
| Darden Restaurants, Inc. (Hotels, Restaurants & Leisure) | | | 1,234 | | | | 143,675 | |
| Delta Air Lines, Inc. (Airlines) | | | 5,796 | | | | 323,068 | |
| Dick's Sporting Goods, Inc. (Specialty Retail) | | | 640 | | | | 28,307 | |
| Discovery, Inc.* (Media) | | | 1,592 | | | | 46,582 | |
| Discovery, Inc.*—Class C (Media) | | | 3,378 | | | | 93,807 | |
| Dish Network Corp.*—Class A (Media) | | | 2,568 | | | | 94,400 | |
| Dollar General Corp. (Multiline Retail) | | | 2,564 | | | | 393,343 | |
| Dollar Tree, Inc.* (Multiline Retail) | | | 2,383 | | | | 207,488 | |
| Domino's Pizza, Inc. (Hotels, Restaurants & Leisure) | | | 412 | | | | 116,081 | |
| Dunkin' Brands Group, Inc. (Hotels, Restaurants & Leisure) | | | 835 | | | | 65,205 | |
| Expedia Group, Inc. (Internet & Direct Marketing Retail) | | | 1,407 | | | | 152,589 | |
| Extended Stay America, Inc. (Hotels, Restaurants & Leisure) | | | 1,842 | | | | 23,799 | |
| Five Below, Inc.* (Specialty Retail) | | | 561 | | | | 63,516 | |
| Floor & Decor Holdings, Inc.* (Specialty Retail) | | | 702 | | | | 34,616 | |
| Foot Locker, Inc. (Specialty Retail) | | | 1,078 | | | | 40,932 | |
| Fox Corp.—Class A (Media) | | | 3,570 | | | | 132,376 | |
| Fox Corp.—Class B (Media) | | | 1,636 | | | | 59,436 | |
| frontdoor, Inc.*—Class A (Diversified Consumer Services) | | | 852 | | | | 36,278 | |
| Graham Holdings Co.—Class B (Diversified Consumer Services) | | | 43 | | | | 23,616 | |
| Grand Canyon Education, Inc.* (Diversified Consumer Services) | | | 486 | | | | 38,044 | |
| H&R Block, Inc. (Diversified Consumer Services) | | | 1,967 | | | | 45,634 | |
| Hilton Grand Vacations, Inc.* (Hotels, Restaurants & Leisure) | | | 861 | | | | 27,475 | |
| Hilton Worldwide Holdings, Inc. (Hotels, Restaurants & Leisure) | | | 2,841 | | | | 306,260 | |
| Hyatt Hotels Corp.—Class A (Hotels, Restaurants & Leisure) | | | 368 | | | | 31,111 | |
| IAA, Inc.* (Commercial Services & Supplies) | | | 1,344 | | | | 63,517 | |
| IHS Markit, Ltd.* (Professional Services) | | | 4,038 | | | | 318,437 | |
| JetBlue Airways Corp.* (Airlines) | | | 2,908 | | | | 57,666 | |
| John Wiley & Sons, Inc.—Class A (Media) | | | 441 | | | | 19,236 | |
| KAR Auction Services, Inc. (Commercial Services & Supplies) | | | 1,298 | | | | 27,284 | |
| Kohl's Corp. (Multiline Retail) | | | 1,577 | | | | 67,417 | |
| L Brands, Inc. (Specialty Retail) | | | 2,340 | | | | 54,194 | |
| Las Vegas Sands Corp. (Hotels, Restaurants & Leisure) | | | 3,403 | | | | 222,250 | |
| Liberty Broadband Corp.*—Class A (Media) | | | 244 | | | | 32,108 | |
| Liberty Broadband Corp.*—Class C (Media) | | | 1,538 | | | | 204,446 | |
| Liberty Global PLC*—Class A (Media) | | | 1,646 | | | | 33,776 | |
| Liberty Global PLC*—Class C (Media) | | | 4,155 | | | | 80,939 | |
| Liberty Latin America, Ltd.*—Class A (Media) | | | 457 | | | | 7,623 | |
| Liberty Latin America, Ltd.*—Class C (Media) | | | 1,150 | | | | 19,378 | |
| Liberty Media Corp-Liberty Formula One*—Class A (Entertainment) | | | 259 | | | | 11,538 | |
| Liberty Media Corp-Liberty Formula One*—Class C (Entertainment) | | | 2,044 | | | | 95,639 | |
| Liberty Media Corp-Liberty SiriusXM*—Class A (Media) | | | 840 | | | | 40,799 | |
| Liberty Media Corp-Liberty SiriusXM*—Class C (Media) | | | 1,476 | | | | 72,354 | |
See accompanying notes to the financial statements.
46 :: Consumer Services UltraSector ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Lions Gate Entertainment Corp.*—Class A (Entertainment) | | | 559 | | | $ | 5,551 | |
| Lions Gate Entertainment Corp.*—Class B (Entertainment) | | | 1,091 | | | | 10,179 | |
| Lithia Motors, Inc.—Class A (Specialty Retail) | | | 228 | | | | 30,926 | |
| Live Nation Entertainment, Inc.* (Entertainment) | | | 1,419 | | | | 96,719 | |
| LiveRamp Holdings, Inc.* (IT Services) | | | 682 | | | | 27,444 | |
| LKQ Corp.* (Distributors) | | | 3,087 | | | | 100,899 | |
| Lowe's Cos., Inc. (Specialty Retail) | | | 7,718 | | | | 897,141 | |
| Lyft, Inc.* (Road & Rail) | | | 2,048 | | | | 97,239 | |
| Macy's, Inc. (Multiline Retail) | | | 3,113 | | | | 49,652 | |
| Marriott International, Inc.—Class A (Hotels, Restaurants & Leisure) | | | 2,733 | | | | 382,804 | |
| Marriott Vacations Worldwide Corp. (Hotels, Restaurants & Leisure) | | | 377 | | | | 45,330 | |
| McDonald's Corp. (Hotels, Restaurants & Leisure) | | | 7,584 | | | | 1,622,748 | |
| Meredith Corp. (Media) | | | 405 | | | | 12,170 | |
| MGM Resorts International (Hotels, Restaurants & Leisure) | | | 5,186 | | | | 161,077 | |
| Murphy USA, Inc.* (Specialty Retail) | | | 291 | | | | 29,731 | |
| National Vision Holdings, Inc.* (Specialty Retail) | | | 791 | | | | 26,989 | |
| Netflix, Inc.* (Entertainment) | | | 4,413 | | | | 1,522,882 | |
| News Corp.—Class A (Media) | | | 3,914 | | | | 53,309 | |
| News Corp.—Class B (Media) | | | 1,228 | | | | 17,155 | |
| Nexstar Media Group, Inc.—Class A (Media) | | | 464 | | | | 56,214 | |
| Nordstrom, Inc. (Multiline Retail) | | | 1,079 | | | | 39,772 | |
| Norwegian Cruise Line Holdings, Ltd.* (Hotels, Restaurants & Leisure) | | | 2,142 | | | | 115,347 | |
| Ollie's Bargain Outlet Holdings, Inc.* (Multiline Retail) | | | 551 | | | | 29,225 | |
| Omnicom Group, Inc. (Media) | | | 2,192 | | | | 165,080 | |
| O'Reilly Automotive, Inc.* (Specialty Retail) | | | 761 | | | | 309,042 | |
| Penske Automotive Group, Inc. (Specialty Retail) | | | 339 | | | | 15,923 | |
| Pinterest, Inc.*—Class A (Interactive Media & Services) | | | 864 | | | | 19,034 | |
| Planet Fitness, Inc.* (Hotels, Restaurants & Leisure) | | | 824 | | | | 66,571 | |
| Qurate Retail, Inc.*—Class A (Internet & Direct Marketing Retail) | | | 3,893 | | | | 33,207 | |
| Roku, Inc.* (Household Durables) | | | 921 | | | | 111,395 | |
| Rollins, Inc. (Commercial Services & Supplies) | | | 1,418 | | | | 53,813 | |
| Ross Stores, Inc. (Specialty Retail) | | | 3,642 | | | | 408,596 | |
| Royal Caribbean Cruises, Ltd. (Hotels, Restaurants & Leisure) | | | 1,731 | | | | 202,665 | |
| Service Corp. International (Diversified Consumer Services) | | | 1,841 | | | | 88,277 | |
| ServiceMaster Global Holdings, Inc.* (Diversified Consumer Services) | | | 1,366 | | | | 49,244 | |
| Sinclair Broadcast Group, Inc.—Class A (Media) | | | 676 | | | | 20,226 | |
| Sirius XM Holdings, Inc. (Media) | | | 13,810 | | | | 97,637 | |
| Six Flags Entertainment Corp. (Hotels, Restaurants & Leisure) | | | 792 | | | | 30,199 | |
| Southwest Airlines Co. (Airlines) | | | 4,769 | | | | 262,200 | |
| Spirit Airlines, Inc.* (Airlines) | | | 690 | | | | 28,338 | |
| Sprouts Farmers Market, Inc.* (Food & Staples Retailing) | | | 1,191 | | | | 18,615 | |
| Starbucks Corp. (Hotels, Restaurants & Leisure) | | | 11,892 | | | | 1,008,798 | |
| Sysco Corp. (Food & Staples Retailing) | | | 5,137 | | | | 421,953 | |
| Target Corp. (Multiline Retail) | | | 5,103 | | | | 565,106 | |
| TEGNA, Inc. (Media) | | | 2,186 | | | | 36,943 | |
| Texas Roadhouse, Inc.—Class A (Hotels, Restaurants & Leisure) | | | 657 | | | | 41,063 | |
| The Cheesecake Factory, Inc. (Hotels, Restaurants & Leisure) | | | 414 | | | | 15,898 | |
| The Gap, Inc. (Specialty Retail) | | | 2,144 | | | | 37,327 | |
| The Home Depot, Inc. (Specialty Retail) | | | 10,984 | | | | 2,505,451 | |
| The Interpublic Group of Cos., Inc. (Media) | | | 3,905 | | | | 88,644 | |
| The Kroger Co. (Food & Staples Retailing) | | | 8,076 | | | | 216,921 | |
| The Madison Square Garden Co.*—Class A (Entertainment) | | | 174 | | | | 51,537 | |
| The New York Times Co.—Class A (Media) | | | 1,448 | | | | 46,350 | |
| The TJX Cos., Inc. (Specialty Retail) | | | 12,211 | | | | 720,938 | |
| The Walt Disney Co. (Entertainment) | | | 18,150 | | | | 2,510,326 | |
| The Wendy's Co. (Hotels, Restaurants & Leisure) | | | 1,855 | | | | 40,198 | |
| Tiffany & Co. (Specialty Retail) | | | 1,087 | | | | 145,680 | |
| Tractor Supply Co. (Specialty Retail) | | | 1,192 | | | | 110,796 | |
| TripAdvisor, Inc. (Interactive Media & Services) | | | 1,058 | | | | 28,904 | |
| Uber Technologies, Inc.* (Road & Rail) | | | 2,061 | | | | 74,794 | |
| Ulta Beauty, Inc.* (Specialty Retail) | | | 576 | | | | 154,316 | |
| United Airlines Holdings , Inc.* (Airlines) | | | 2,191 | | | | 163,887 | |
| Urban Outfitters, Inc.* (Specialty Retail) | | | 711 | | | | 18,202 | |
| Vail Resorts, Inc. (Hotels, Restaurants & Leisure) | | | 406 | | | | 95,211 | |
| ViacomCBS, Inc.—Class B (Media) | | | 5,442 | | | | 185,735 | |
| Walgreens Boots Alliance, Inc. (Food & Staples Retailing) | | | 7,550 | | | | 383,918 | |
| Walmart, Inc. (Food & Staples Retailing) | | | 14,284 | | | | 1,635,376 | |
| Wayfair, Inc.*—Class A (Internet & Direct Marketing Retail) | | | 662 | | | | 62,029 | |
| Williams-Sonoma, Inc. (Specialty Retail) | | | 781 | | | | 54,732 | |
| World Wrestling Entertainment, Inc.—Class A (Entertainment) | | | 478 | | | | 23,365 | |
| Wyndham Destinations, Inc. (Hotels, Restaurants & Leisure) | | | 914 | | | | 44,356 | |
| Wyndham Hotels & Resorts, Inc. (Hotels, Restaurants & Leisure) | | | 958 | | | | 54,769 | |
| Wynn Resorts, Ltd. (Hotels, Restaurants & Leisure) | | | 973 | | | | 122,754 | |
| Yelp, Inc.* (Interactive Media & Services) | | | 643 | | | | 20,962 | |
| YUM! Brands, Inc. (Hotels, Restaurants & Leisure) | | | 3,046 | | | | 322,175 | |
TOTAL COMMON STOCKS
(Cost $16,945,036) | | | | | | | 39,639,451 | |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Consumer Services UltraSector ProFund :: 47
Repurchase Agreements(a)(b) (21.7%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $10,746,304 | | $ | 10,745,000 | | | $ | 10,745,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $10,745,000) | | | | | | | 10,745,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $27,690,036)—101.5% | | | | | | | 50,384,451 | |
| Net other assets (liabilities)—(1.5)% | | | | | | | (768,328 | ) |
| NET ASSETS—100.0% | | | | | | $ | 49,616,123 | |
| * | Non-income producing security. |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See “Repurchase Agreements” under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $7,332,000. |
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Dow Jones U.S. Consumer Services Index | | Goldman Sachs International | | 2/24/20 | | | 2.09 | % | | $ | 16,384,893 | | | $ | (298,707 | ) |
| Dow Jones U.S. Consumer Services Index | | UBS AG | | 2/24/20 | | | 1.94 | % | | | 18,516,291 | | | | (307,170 | ) |
| | | | | | | | | | | $ | 34,901,184 | | | $ | (605,877 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
Consumer Services UltraSector ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Airlines | | $ | 1,042,974 | | | | 2.1 | % |
| Commercial Services & Supplies | | | 353,622 | | | | 0.7 | % |
| Distributors | | | 100,899 | | | | 0.2 | % |
| Diversified Consumer Services | | | 443,721 | | | | 0.9 | % |
| Entertainment | | | 4,361,578 | | | | 8.8 | % |
| Food & Staples Retailing | | | 4,095,559 | | | | 8.3 | % |
| Health Care Providers & Services | | | 280,351 | | | | 0.6 | % |
| Hotels, Restaurants & Leisure | | | 6,039,394 | | | | 12.2 | % |
| Household Durables | | | 111,395 | | | | 0.2 | % |
| Interactive Media & Services | | | 68,900 | | | | 0.1 | % |
| Internet & Direct Marketing Retail | | | 9,442,881 | | | | 19.0 | % |
| IT Services | | | 27,444 | | | | 0.1 | % |
| Media | | | 4,694,743 | | | | 9.5 | % |
| Multiline Retail | | | 1,352,003 | | | | 2.7 | % |
| Professional Services | | | 318,437 | | | | 0.6 | % |
| Road & Rail | | | 220,900 | | | | 0.4 | % |
| Specialty Retail | | | 6,661,771 | | | | 13.4 | % |
| Trading Companies & Distributors | | | 22,879 | | | | NM | |
| Other** | | | 9,976,672 | | | | 20.2 | % |
| Total | | $ | 49,616,123 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
| NM | Not meaningful, amount is less than 0.05%. |
See accompanying notes to the financial statements.
48 :: Europe 30 ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks (99.6%)
| | | Shares | | | Value | |
| Amarin Corp. PLC*ADR (Biotechnology) | | | 4,417 | | | $ | 81,935 | |
| Anheuser-Busch InBev N.V.ADR (Beverages) | | | 3,054 | | | | 229,967 | |
| ArcelorMittalNYS—Class A (Metals & Mining) | | | 5,785 | | | | 84,808 | |
| ASML Holding N.V.NYS (Semiconductors & Semiconductor Equipment) | | | 709 | | | | 198,988 | |
| AstraZeneca PLCADR (Pharmaceuticals) | | | 3,544 | | | | 172,593 | |
| Banco Santander S.A.ADR (Banks) | | | 37,369 | | | | 146,486 | |
| Barclays PLCADR (Banks) | | | 13,420 | | | | 118,096 | |
| BP PLCADR (Oil, Gas & Consumable Fuels) | | | 5,672 | | | | 204,929 | |
| British American Tobacco PLCADR (Tobacco) | | | 4,309 | | | | 189,811 | |
| Diageo PLCADR (Beverages) | | | 1,093 | | | | 172,639 | |
| Equinor ASAADR (Oil, Gas & Consumable Fuels) | | | 7,800 | | | | 141,804 | |
| Galapagos NV*ADR (Biotechnology) | | | 489 | | | | 108,988 | |
| GlaxoSmithKline PLCADR (Pharmaceuticals) | | | 4,311 | | | | 201,756 | |
| Grifols SAADR (Biotechnology) | | | 4,693 | | | | 106,672 | |
| GW Pharmaceuticals PLC*ADR(Pharmaceuticals) | | | 819 | | | | 94,619 | |
| HSBC Holdings PLCADR (Banks) | | | 6,274 | | | | 227,683 | |
| ING Groep N.V.ADR (Banks) | | | 11,076 | | | | 120,396 | |
| National Grid PLCADR (Multi-Utilities) | | | 2,073 | | | | 137,398 | |
| Nokia Corp.ADR (Communications Equipment) | | | 29,895 | | | | 115,993 | |
| NOVO Nordisk A/SADR (Pharmaceuticals) | | | 3,110 | | | | 189,181 | |
| Rio Tinto PLCADR (Metals & Mining) | | | 3,166 | | | | 169,159 | |
| Royal Dutch Shell PLCADR—Class A (Oil, Gas & Consumable Fuels) | | | 5,400 | | | | 281,610 | |
| Ryanair Holdings PLC*ADR (Airlines) | | | 1,203 | | | | 104,192 | |
| S.A.P. SEADR (Software) | | | 1,854 | | | | 242,448 | |
| SanofiADR (Pharmaceuticals) | | | 3,541 | | | | 170,924 | |
| Telefonaktiebolaget LM EricssonADR(Communications Equipment) | | | 13,202 | | | | 103,768 | |
| Tenaris S.A.ADR (Energy Equipment & Services) | | | 4,474 | | | | 92,567 | |
| TOTAL S.A.ADR (Oil, Gas & Consumable Fuels) | | | 4,145 | | | | 201,406 | |
| Unilever N.V.NYS (Personal Products) | | | 4,092 | | | | 238,482 | |
| Vodafone Group PLCADR (Wireless Telecommunication Services) | | | 7,089 | | | | 139,015 | |
TOTAL COMMON STOCKS
(Cost $3,777,515) | | | | | | | 4,788,313 | |
Repurchase Agreements(a) (0.4%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $21,003 | | $ | 21,000 | | | $ | 21,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $21,000) | | | | | | | 21,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $3,798,515)—100.0% | | | | | | | 4,809,313 | |
| Net other assets (liabilities)—NM | | | | | | | (549 | ) |
| NET ASSETS—100.0% | | | | | | $ | 4,808,764 | |
| * | Non-income producing security. |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See “Repurchase Agreements” under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| ADR | American Depositary Receipt |
| NM | Not meaningful, amount is less than 0.05%. |
Europe 30 ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Airlines | | $ | 104,192 | | | | 2.2 | % |
| Banks | | | 612,662 | | | | 12.7 | % |
| Beverages | | | 402,606 | | | | 8.4 | % |
| Biotechnology | | | 297,596 | | | | 6.2 | % |
| Communications Equipment | | | 219,760 | | | | 4.6 | % |
| Energy Equipment & Services | | | 92,567 | | | | 1.9 | % |
| Metals & Mining | | | 253,967 | | | | 5.3 | % |
| Multi-Utilities | | | 137,398 | | | | 2.9 | % |
| Oil, Gas & Consumable Fuels | | | 829,749 | | | | 17.3 | % |
| Personal Products | | | 238,482 | | | | 5.0 | % |
| Pharmaceuticals | | | 829,072 | | | | 17.2 | % |
| Semiconductors & Semiconductor Equipment | | | 198,988 | | | | 4.1 | % |
| Software | | | 242,448 | | | | 5.0 | % |
| Tobacco | | | 189,811 | | | | 3.9 | % |
| Wireless Telecommunication Services | | | 139,015 | | | | 2.9 | % |
| Other** | | | 20,451 | | | | 0.4 | % |
| Total | | $ | 4,808,764 | | | | 100.0 | % |
Europe 30 ProFund invested in securities with exposure to the following countries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Belgium | | $ | 338,955 | | | | 7.1 | % |
| Denmark | | | 189,181 | | | | 3.9 | % |
| Finland | | | 115,993 | | | | 2.4 | % |
| France | | | 372,330 | | | | 7.7 | % |
| Germany | | | 242,448 | | | | 5.0 | % |
| Ireland | | | 186,127 | | | | 3.9 | % |
| Luxembourg | | | 177,375 | | | | 3.7 | % |
| Netherlands | | | 600,994 | | | | 12.5 | % |
| Norway | | | 141,804 | | | | 3.0 | % |
| Spain | | | 253,158 | | | | 5.3 | % |
| Sweden | | | 103,768 | | | | 2.2 | % |
| United Kingdom | | | 2,066,180 | | | | 42.9 | % |
| Other** | | | 20,451 | | | | 0.4 | % |
| Total | | $ | 4,808,764 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Falling U.S. Dollar ProFund :: 49
Repurchase Agreements(a)(b) (101.0%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $1,110,135 | | $ | 1,110,000 | | | $ | 1,110,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $1,110,000) | | | | | | | 1,110,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $1,110,000)—101.0% | | | | | | | 1,110,000 | |
| Net other assets (liabilities)—(1.0)% | | | | | | | (11,336 | ) |
| NET ASSETS—100.0% | | | | | | $ | 1,098,664 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See “Repurchase Agreements” under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of forward currency contract counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $188,000. |
At January 31, 2020, the Falling U.S. Dollar ProFund’s forward currency contracts with Goldman Sachs International, were as follows:
Description and amount of
currency purchased | | Description and amount of
currency sold | | Delivery
Date | | Fair
Value | | | Unrealized
Appreciation/
(Depreciation) | |
| Long: | | | | | | | | | | | | | | | | | | |
| British pound | | | 31,346 | | U.S. dollar | | $ | 41,182 | | 2/7/20 | | $ | 41,393 | | | $ | 211 | |
| Canadian dollar | | | 45,330 | | U.S. dollar | | | 34,824 | | 2/7/20 | | | 34,258 | | | | (566 | ) |
| Euro | | | 135,760 | | U.S. dollar | | | 151,267 | | 2/7/20 | | | 150,607 | | | | (660 | ) |
| Japanese yen | | | 2,463,065 | | U.S. dollar | | | 22,687 | | 2/7/20 | | | 22,743 | | | | 56 | |
| Swedish krona | | | 37,068 | | U.S. dollar | | | 3,929 | | 2/7/20 | | | 3,853 | | | | (76 | ) |
| Swiss franc | | | 5,899 | | U.S. dollar | | | 6,094 | | 2/7/20 | | | 6,129 | | | | 35 | |
| Total Long Contracts | | | | | | | $ | 259,983 | | | | $ | 258,983 | | | $ | (1,000 | ) |
At January 31, 2020, the Falling U.S. Dollar ProFund’s forward currency contracts with UBS AG, were as follows:
Description and amount of
currency purchased | | | Description and amount of
currency sold | | | Delivery
Date | | Fair
Value | | | Unrealized
Appreciation/
(Depreciation) | |
| Short: | | | | | | | | | | | | | | | | | | | | |
| U.S. dollar | | $ | 69,719 | | | British pound | | | 53,176 | | | 2/7/20 | | $ | 70,220 | | | $ | (501 | ) |
| U.S. dollar | | | 51,829 | | | Canadian dollar | | | 67,868 | | | 2/7/20 | | | 51,290 | | | | 539 | |
| U.S. dollar | | | 325,211 | | | Euro | | | 293,218 | | | 2/7/20 | | | 325,284 | | | | (73 | ) |
| U.S. dollar | | | 78,714 | | | Japanese yen | | | 8,606,341 | | | 2/7/20 | | | 79,467 | | | | (753 | ) |
| U.S. dollar | | | 23,733 | | | Swedish krona | | | 225,394 | | | 2/7/20 | | | 23,429 | | | | 304 | |
| U.S. dollar | | | 20,626 | | | Swiss franc | | | 19,981 | | | 2/7/20 | | | 20,761 | | | | (135 | ) |
| Total Short Contracts | | $ | 569,832 | | | | | | | | | | | $ | 570,451 | | | $ | (619 | ) |
| | | | | | | | | | | | | | | | | | | | | |
| Long: | | | | | | | | | | | | | | | | | | | | |
| British pound | | | 121,564 | | | U.S. dollar | | $ | 159,459 | | | 2/7/20 | | $ | 160,527 | | | $ | 1,068 | |
| Canadian dollar | | | 153,251 | | | U.S. dollar | | | 117,548 | | | 2/7/20 | | | 115,818 | | | | (1,730 | ) |
| Euro | | | 727,730 | | | U.S. dollar | | | 810,041 | | | 2/7/20 | | | 807,314 | | | | (2,727 | ) |
| Japanese yen | | | 22,337,618 | | | U.S. dollar | | | 205,567 | | | 2/7/20 | | | 206,255 | | | | 688 | |
| Swedish krona | | | 628,500 | | | U.S. dollar | | | 66,467 | | | 2/7/20 | | | 65,331 | | | | (1,136 | ) |
| Swiss franc | | | 52,275 | | | U.S. dollar | | | 53,982 | | | 2/7/20 | | | 54,314 | | | | 332 | |
| Total Long Contracts | | | | | | | | $ | 1,413,064 | | | | | $ | 1,409,559 | | | $ | (3,505 | ) |
| | | | | | | | | | Total unrealized appreciation | | | $ | 3,233 | |
| | | | | | | | | | | | | Total unrealized (depreciation) | | | | (8,357 | ) |
| | | | | | | | | | Total net unrealized appreciation/(depreciation) | | | $ | (5,124 | ) |
See accompanying notes to the financial statements.
50 :: Financials UltraSector ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks (76.3%)
| | | Shares | | | Value | |
| Acadia Realty Trust (Equity Real Estate Investment Trusts) | | | 137 | | | $ | 3,400 | |
| Affiliated Managers Group, Inc. (Capital Markets) | | | 78 | | | | 6,228 | |
| Aflac, Inc. (Insurance) | | | 1,160 | | | | 59,821 | |
| AGNC Investment Corp. (Mortgage Real Estate Investment Trusts) | | | 855 | | | | 15,894 | |
| Alexandria Real Estate Equities, Inc. (Equity Real Estate Investment Trusts) | | | 182 | | | | 29,702 | |
| Alleghany Corp.* (Insurance) | | | 23 | | | | 18,346 | |
| Ally Financial, Inc. (Consumer Finance) | | | 602 | | | | 19,282 | |
| American Campus Communities, Inc. (Equity Real Estate Investment Trusts) | | | 217 | | | | 9,954 | |
| American Express Co. (Consumer Finance) | | | 1,062 | | | | 137,921 | |
| American Financial Group, Inc. (Insurance) | | | 117 | | | | 12,728 | |
| American Homes 4 Rent—Class A (Equity Real Estate Investment Trusts) | | | 402 | | | | 10,987 | |
| American International Group, Inc. (Insurance) | | | 1,377 | | | | 69,208 | |
| American Tower Corp. (Equity Real Estate Investment Trusts) | | | 701 | | | | 162,449 | |
| Americold Realty Trust (Equity Real Estate Investment Trusts) | | | 304 | | | | 10,479 | |
| Ameriprise Financial, Inc. (Capital Markets) | | | 200 | | | | 33,082 | |
| Annaly Capital Management, Inc. (Mortgage Real Estate Investment Trusts) | | | 2,261 | | | | 22,068 | |
| Aon PLC (Insurance) | | | 371 | | | | 81,713 | |
| Apartment Investment & Management Co. (Equity Real Estate Investment Trusts) | | | 235 | | | | 12,387 | |
| Apple Hospitality REIT, Inc. (Equity Real Estate Investment Trusts) | | | 331 | | | | 4,972 | |
| Arch Capital Group, Ltd.* (Insurance) | | | 641 | | | | 28,307 | |
| Arthur J. Gallagher & Co. (Insurance) | | | 296 | | | | 30,361 | |
| Associated Banc-Corp. (Banks) | | | 253 | | | | 5,042 | |
| Assurant, Inc. (Insurance) | | | 96 | | | | 12,534 | |
| Assured Guaranty, Ltd. (Insurance) | | | 151 | | | | 6,922 | |
| Athene Holding, Ltd.* (Insurance) | | | 186 | | | | 8,102 | |
| AvalonBay Communities, Inc. (Equity Real Estate Investment Trusts) | | | 222 | | | | 48,105 | |
| Axis Capital Holdings, Ltd. (Insurance) | | | 134 | | | | 8,610 | |
| BancorpSouth Bank (Banks) | | | 151 | | | | 4,314 | |
| Bank of America Corp. (Banks) | | | 15,829 | | | | 519,666 | |
| Bank of Hawaii Corp. (Banks) | | | 64 | | | | 5,734 | |
| Bank OZK (Banks) | | | 190 | | | | 5,164 | |
| BankUnited, Inc. (Banks) | | | 150 | | | | 4,950 | |
| Berkshire Hathaway, Inc.*—Class B (Diversified Financial Services) | | | 3,095 | | | | 694,611 | |
| BlackRock, Inc.—Class A (Capital Markets) | | | 186 | | | | 98,087 | |
| Blackstone Group, Inc.—Class A (Capital Markets) | | | 1,043 | | | | 63,696 | |
| Blackstone Mortgage Trust, Inc.—Class A (Mortgage Real Estate Investment Trusts) | | | 212 | | | | 8,098 | |
| BOK Financial Corp. (Banks) | | | 50 | | | | 3,945 | |
| Boston Properties, Inc. (Equity Real Estate Investment Trusts) | | | 228 | | | | 32,684 | |
| Brandywine Realty Trust (Equity Real Estate Investment Trusts) | | | 278 | | | | 4,342 | |
| Brighthouse Financial, Inc.* (Insurance) | | | 173 | | | | 6,730 | |
| Brixmor Property Group, Inc. (Equity Real Estate Investment Trusts) | | | 470 | | | | 9,381 | |
| Brown & Brown, Inc. (Insurance) | | | 371 | | | | 16,658 | |
| Camden Property Trust (Equity Real Estate Investment Trusts) | | | 154 | | | | 17,314 | |
| Capital One Financial Corp. (Consumer Finance) | | | 735 | | | | 73,353 | |
| Capitol Federal Financial, Inc. (Thrifts & Mortgage Finance) | | | 222 | | | | 2,926 | |
| Cathay General Bancorp (Banks) | | | 119 | | | | 4,291 | |
| CBOE Global Markets, Inc. (Capital Markets) | | | 174 | | | | 21,440 | |
| CBRE Group, Inc.*—Class A (Real Estate Management & Development) | | | 529 | | | | 32,296 | |
| Chimera Investment Corp. (Mortgage Real Estate Investment Trusts) | | | 295 | | | | 6,254 | |
| Chubb, Ltd. (Insurance) | | | 716 | | | | 108,824 | |
| Cincinnati Financial Corp. (Insurance) | | | 241 | | | | 25,293 | |
| CIT Group, Inc. (Banks) | | | 150 | | | | 6,857 | |
| Citigroup, Inc. (Banks) | | | 3,453 | | | | 256,938 | |
| Citizens Financial Group, Inc. (Banks) | | | 687 | | | | 25,611 | |
| CME Group, Inc. (Capital Markets) | | | 567 | | | | 123,102 | |
| CNA Financial Corp. (Insurance) | | | 44 | | | | 1,964 | |
| CNO Financial Group, Inc. (Insurance) | | | 239 | | | | 4,204 | |
| Colony Capital, Inc. (Equity Real Estate Investment Trusts) | | | 772 | | | | 3,605 | |
| Columbia Property Trust, Inc. (Equity Real Estate Investment Trusts) | | | 185 | | | | 3,904 | |
| Comerica, Inc. (Banks) | | | 228 | | | | 13,944 | |
| Commerce Bancshares, Inc. (Banks) | | | 164 | | | | 11,096 | |
| Corecivic, Inc. (Equity Real Estate Investment Trusts) | | | 187 | | | | 2,983 | |
| CoreSite Realty Corp. (Equity Real Estate Investment Trusts) | | | 59 | | | | 6,930 | |
| Corporate Office Properties Trust (Equity Real Estate Investment Trusts) | | | 178 | | | | 5,299 | |
| CoStar Group, Inc.* (Professional Services) | | | 58 | | | | 37,873 | |
| Cousins Properties, Inc. (Equity Real Estate Investment Trusts) | | | 233 | | | | 9,537 | |
| Credit Acceptance Corp.* (Consumer Finance) | | | 22 | | | | 9,438 | |
| Crown Castle International Corp. (Equity Real Estate Investment Trusts) | | | 657 | | | | 98,444 | |
| CubeSmart (Equity Real Estate Investment Trusts) | | | 306 | | | | 9,691 | |
| Cullen/Frost Bankers, Inc. (Banks) | | | 90 | | | | 8,024 | |
| CyrusOne, Inc. (Equity Real Estate Investment Trusts) | | | 179 | | | | 10,892 | |
| DiamondRock Hospitality Co. (Equity Real Estate Investment Trusts) | | | 314 | | | | 3,036 | |
| Digital Realty Trust, Inc. (Equity Real Estate Investment Trusts) | | | 330 | | | | 40,587 | |
| Discover Financial Services (Consumer Finance) | | | 496 | | | | 37,264 | |
| Diversified Healthcare Trust (Equity Real Estate Investment Trusts) | | | 374 | | | | 2,887 | |
| Douglas Emmett, Inc. (Equity Real Estate Investment Trusts) | | | 261 | | | | 10,832 | |
| Duke Realty Corp. (Equity Real Estate Investment Trusts) | | | 581 | | | | 21,096 | |
| E*TRADE Financial Corp. (Capital Markets) | | | 357 | | | | 15,215 | |
| East West Bancorp, Inc. (Banks) | | | 230 | | | | 10,543 | |
| EastGroup Properties, Inc. (Equity Real Estate Investment Trusts) | | | 61 | | | | 8,300 | |
| Eaton Vance Corp. (Capital Markets) | | | 179 | | | | 8,189 | |
| Enstar Group, Ltd.* (Insurance) | | | 24 | | | | 4,687 | |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Financials UltraSector ProFund :: 51
Common Stocks, continued
| | | Shares | | | Value | |
| EPR Properties (Equity Real Estate Investment Trusts) | | | 125 | | | $ | 8,921 | |
| Equinix, Inc. (Equity Real Estate Investment Trusts) | | | 135 | | | | 79,614 | |
| Equitable Holdings, Inc. (Diversified Financial Services) | | | 697 | | | | 16,742 | |
| Equity Commonwealth (Equity Real Estate Investment Trusts) | | | 192 | | | | 6,296 | |
| Equity LifeStyle Properties, Inc. (Equity Real Estate Investment Trusts) | | | 288 | | | | 20,952 | |
| Equity Residential (Equity Real Estate Investment Trusts) | | | 551 | | | | 45,777 | |
| Erie Indemnity Co.—Class A (Insurance) | | | 30 | | | | 4,995 | |
| Essent Group, Ltd. (Thrifts & Mortgage Finance) | | | 155 | | | | 7,690 | |
| Essex Property Trust, Inc. (Equity Real Estate Investment Trusts) | | | 103 | | | | 31,905 | |
| Evercore Partners, Inc.—Class A (Capital Markets) | | | 62 | | | | 4,750 | |
| Everest Re Group, Ltd. (Insurance) | | | 66 | | | | 18,254 | |
| Extra Space Storage, Inc. (Equity Real Estate Investment Trusts) | | | 204 | | | | 22,579 | |
| F.N.B. Corp. (Banks) | | | 512 | | | | 5,975 | |
| FactSet Research Systems, Inc. (Capital Markets) | | | 59 | | | | 16,880 | |
| Federal Realty Investment Trust (Equity Real Estate Investment Trusts) | | | 112 | | | | 14,002 | |
| Federated Hermes, Inc.—Class B (Capital Markets) | | | 152 | | | | 5,507 | |
| Fifth Third Bancorp (Banks) | | | 1,122 | | | | 31,921 | |
| First American Financial Corp. (Insurance) | | | 178 | | | | 11,032 | |
| First Citizens BancShares, Inc.—Class A (Banks) | | | 13 | | | | 6,849 | |
| First Financial Bankshares, Inc. (Banks) | | | 214 | | | | 7,173 | |
| First Hawaiian, Inc. (Banks) | | | 206 | | | | 5,986 | |
| First Horizon National Corp. (Banks) | | | 492 | | | | 7,868 | |
| First Industrial Realty Trust, Inc. (Equity Real Estate Investment Trusts) | | | 201 | | | | 8,583 | |
| First Republic Bank (Banks) | | | 266 | | | | 29,494 | |
| FirstCash, Inc. (Consumer Finance) | | | 67 | | | | 5,827 | |
| FNF Group (Insurance) | | | 539 | | | | 26,276 | |
| Franklin Resources, Inc. (Capital Markets) | | | 441 | | | | 11,157 | |
| Fulton Financial Corp. (Banks) | | | 259 | | | | 4,266 | |
| Gaming & Leisure Properties, Inc. (Equity Real Estate Investment Trusts) | | | 322 | | | | 15,216 | |
| Genworth Financial, Inc.*—Class A (Insurance) | | | 794 | | | | 3,255 | |
| Glacier Bancorp, Inc. (Banks) | | | 136 | | | | 5,762 | |
| Globe Life, Inc. (Insurance) | | | 158 | | | | 16,473 | |
| Green Dot Corp.*—Class A (Consumer Finance) | | | 75 | | | | 2,256 | |
| Hancock Whitney Corp. (Banks) | | | 137 | | | | 5,444 | |
| Hartford Financial Services Group, Inc. (Insurance) | | | 570 | | | | 33,790 | |
| Healthcare Realty Trust, Inc. (Equity Real Estate Investment Trusts) | | | 210 | | | | 7,573 | |
| Healthcare Trust of America, Inc.—Class A (Equity Real Estate Investment Trusts) | | | 328 | | | | 10,506 | |
| Healthpeak Properties, Inc. (Equity Real Estate Investment Trusts) | | | 783 | | | | 28,180 | |
| Highwoods Properties, Inc. (Equity Real Estate Investment Trusts) | | | 164 | | | | 8,218 | |
| Home BancShares, Inc. (Banks) | | | 244 | | | | 4,665 | |
| Host Hotels & Resorts, Inc. (Equity Real Estate Investment Trusts) | | | 1,133 | | | | 18,513 | |
| Hudson Pacific Properties, Inc. (Equity Real Estate Investment Trusts) | | | 246 | | | | 8,940 | |
| Huntington Bancshares, Inc. (Banks) | | | 1,632 | | | | 22,146 | |
| IBERIABANK Corp. (Banks) | | | 81 | | | | 5,890 | |
| Interactive Brokers Group, Inc.—Class A (Capital Markets) | | | 122 | | | | 5,734 | |
| Intercontinental Exchange, Inc. (Capital Markets) | | | 880 | | | | 87,771 | |
| International Bancshares Corp. (Banks) | | | 90 | | | | 3,546 | |
| Invesco Mortgage Capital, Inc. (Mortgage Real Estate Investment Trusts) | | | 224 | | | | 3,918 | |
| Invesco, Ltd. (Capital Markets) | | | 588 | | | | 10,172 | |
| Investors Bancorp, Inc. (Banks) | | | 350 | | | | 4,230 | |
| Invitation Homes, Inc. (Equity Real Estate Investment Trusts) | | | 851 | | | | 26,781 | |
| Iron Mountain, Inc. (Equity Real Estate Investment Trusts) | | | 454 | | | | 14,351 | |
| Janus Henderson Group PLC (Capital Markets) | | | 247 | | | | 6,242 | |
| JBG Smith Properties (Equity Real Estate Investment Trusts) | | | 186 | | | | 7,542 | |
| Jones Lang LaSalle, Inc. (Real Estate Management & Development) | | | 81 | | | | 13,755 | |
| JPMorgan Chase & Co. (Banks) | | | 4,962 | | | | 656,770 | |
| Kemper Corp. (Insurance) | | | 99 | | | | 7,368 | |
| KeyCorp (Banks) | | | 1,558 | | | | 29,150 | |
| Kilroy Realty Corp. (Equity Real Estate Investment Trusts) | | | 155 | | | | 12,798 | |
| Kimco Realty Corp. (Equity Real Estate Investment Trusts) | | | 667 | | | | 12,706 | |
| Lamar Advertising Co.—Class A (Equity Real Estate Investment Trusts) | | | 136 | | | | 12,622 | |
| Lazard, Ltd.—Class A (Capital Markets) | | | 178 | | | | 7,469 | |
| Legg Mason, Inc. (Capital Markets) | | | 129 | | | | 5,050 | |
| LendingTree, Inc.* (Thrifts & Mortgage Finance) | | | 11 | | | | 3,423 | |
| Lexington Realty Trust (Equity Real Estate Investment Trusts) | | | 390 | | | | 4,317 | |
| Liberty Property Trust (Equity Real Estate Investment Trusts) | | | 251 | | | | 15,725 | |
| Life Storage, Inc. (Equity Real Estate Investment Trusts) | | | 74 | | | | 8,375 | |
| Lincoln National Corp. (Insurance) | | | 314 | | | | 17,107 | |
| Loews Corp. (Insurance) | | | 405 | | | | 20,837 | |
| LPL Financial Holdings, Inc. (Capital Markets) | | | 127 | | | | 11,701 | |
| M&T Bank Corp. (Banks) | | | 209 | | | | 35,221 | |
| Mack-Cali Realty Corp. (Equity Real Estate Investment Trusts) | | | 142 | | | | 3,118 | |
| Markel Corp.* (Insurance) | | | 22 | | | | 25,805 | |
| MarketAxess Holdings, Inc. (Capital Markets) | | | 59 | | | | 20,897 | |
| Marsh & McLennan Cos., Inc. (Insurance) | | | 800 | | | | 89,487 | |
| MasterCard, Inc.—Class A (IT Services) | | | 1,735 | | | | 548,156 | |
| Medical Properties Trust, Inc. (Equity Real Estate Investment Trusts) | | | 818 | | | | 18,119 | |
| Mercury General Corp. (Insurance) | | | 44 | | | | 2,160 | |
| MetLife, Inc. (Insurance) | | | 1,236 | | | | 61,442 | |
| MFA Financial, Inc. (Mortgage Real Estate Investment Trusts) | | | 712 | | | | 5,554 | |
| MGIC Investment Corp. (Thrifts & Mortgage Finance) | | | 551 | | | | 7,598 | |
| Mid-America Apartment Communities, Inc. (Equity Real Estate Investment Trusts) | | | 180 | | | | 24,698 | |
| Moody’s Corp. (Capital Markets) | | | 257 | | | | 65,995 | |
| Morgan Stanley (Capital Markets) | | | 1,945 | | | | 101,646 | |
See accompanying notes to the financial statements.
52 :: Financials UltraSector ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Morningstar, Inc. (Capital Markets) | | | 33 | | | $ | 5,177 | |
| MSCI, Inc.—Class A (Capital Markets) | | | 134 | | | | 38,297 | |
| Nasdaq, Inc. (Capital Markets) | | | 182 | | | | 21,196 | |
| National Health Investors, Inc. (Equity Real Estate Investment Trusts) | | | 69 | | | | 5,822 | |
| National Retail Properties, Inc. (Equity Real Estate Investment Trusts) | | | 271 | | | | 15,176 | |
| Navient Corp. (Consumer Finance) | | | 306 | | | | 4,400 | |
| New Residential Investment Corp. (Mortgage Real Estate Investment Trusts) | | | 656 | | | | 10,981 | |
| New York Community Bancorp, Inc. (Thrifts & Mortgage Finance) | | | 737 | | | | 8,152 | |
| Northern Trust Corp. (Capital Markets) | | | 335 | | | | 32,766 | |
| Old Republic International Corp. (Insurance) | | | 450 | | | | 10,148 | |
| Omega Healthcare Investors, Inc. (Equity Real Estate Investment Trusts) | | | 346 | | | | 14,515 | |
| Onemain Holdings, Inc. (Consumer Finance) | | | 121 | | | | 5,127 | |
| Outfront Media, Inc. (Equity Real Estate Investment Trusts) | | | 228 | | | | 6,781 | |
| PacWest Bancorp (Banks) | | | 190 | | | | 6,660 | |
| Paramount Group, Inc. (Equity Real Estate Investment Trusts) | | | 318 | | | | 4,471 | |
| Park Hotels & Resorts, Inc. (Equity Real Estate Investment Trusts) | | | 378 | | | | 8,293 | |
| Pebblebrook Hotel Trust (Equity Real Estate Investment Trusts) | | | 206 | | | | 4,886 | |
| People’s United Financial, Inc. (Banks) | | | 702 | | | | 10,825 | |
| Physicians Realty Trust (Equity Real Estate Investment Trusts) | | | 292 | | | | 5,650 | |
| Piedmont Office Realty Trust, Inc.—Class A (Equity Real Estate Investment Trusts) | | | 199 | | | | 4,615 | |
| Pinnacle Financial Partners, Inc. (Banks) | | | 113 | | | | 6,674 | |
| Popular, Inc. (Banks) | | | 154 | | | | 8,618 | |
| PotlatchDeltic Corp. (Equity Real Estate Investment Trusts) | | | 106 | | | | 4,558 | |
| Primerica, Inc. (Insurance) | | | 67 | | | | 7,944 | |
| Principal Financial Group, Inc. (Insurance) | | | 407 | | | | 21,551 | |
| ProAssurance Corp. (Insurance) | | | 85 | | | | 2,581 | |
| Prologis, Inc. (Equity Real Estate Investment Trusts) | | | 1,000 | | | | 92,879 | |
| Prosperity Bancshares, Inc. (Banks) | | | 149 | | | | 10,460 | |
| Prudential Financial, Inc. (Insurance) | | | 636 | | | | 57,914 | |
| PS Business Parks, Inc. (Equity Real Estate Investment Trusts) | | | 32 | | | | 5,362 | |
| Public Storage (Equity Real Estate Investment Trusts) | | | 237 | | | | 53,031 | |
| Radian Group, Inc. (Thrifts & Mortgage Finance) | | | 317 | | | | 7,763 | |
| Raymond James Financial, Inc. (Capital Markets) | | | 196 | | | | 17,920 | |
| Rayonier, Inc. (Equity Real Estate Investment Trusts) | | | 204 | | | | 6,198 | |
| Realty Income Corp. (Equity Real Estate Investment Trusts) | | | 515 | | | | 40,381 | |
| Regency Centers Corp. (Equity Real Estate Investment Trusts) | | | 265 | | | | 16,441 | |
| Regions Financial Corp. (Banks) | | | 1,526 | | | | 23,760 | |
| Reinsurance Group of America, Inc. (Insurance) | | | 99 | | | | 14,261 | |
| RenaissanceRe Holdings, Ltd. (Insurance) | | | 69 | | | | 13,071 | |
| Retail Properties of America, Inc. (Equity Real Estate Investment Trusts) | | | 337 | | | | 4,095 | |
| Rexford Industrial Realty, Inc. (Equity Real Estate Investment Trusts) | | | 177 | | | | 8,530 | |
| RLI Corp. (Insurance) | | | 62 | | | | 5,767 | |
| RLJ Lodging Trust (Equity Real Estate Investment Trusts) | | | 269 | | | | 4,186 | |
| Ryman Hospitality Properties, Inc.—Class I (Equity Real Estate Investment Trusts) | | | 86 | | | | 7,313 | |
| S&P Global, Inc. (Capital Markets) | | | 386 | | | | 113,381 | |
| Sabra Health Care REIT, Inc. (Equity Real Estate Investment Trusts) | | | 305 | | | | 6,558 | |
| Santander Consumer USA Holdings, Inc. (Consumer Finance) | | | 161 | | | | 4,286 | |
| SBA Communications Corp. (Equity Real Estate Investment Trusts) | | | 178 | | | | 44,422 | |
| SEI Investments Co. (Capital Markets) | | | 200 | | | | 13,052 | |
| Selective Insurance Group, Inc. (Insurance) | | | 95 | | | | 6,294 | |
| Service Properties Trust (Equity Real Estate Investment Trusts) | | | 259 | | | | 5,589 | |
| Signature Bank (Banks) | | | 86 | | | | 12,203 | |
| Simon Property Group, Inc. (Equity Real Estate Investment Trusts) | | | 486 | | | | 64,711 | |
| SITE Centers Corp. (Equity Real Estate Investment Trusts) | | | 235 | | | | 2,987 | |
| SL Green Realty Corp. (Equity Real Estate Investment Trusts) | | | 129 | | | | 11,873 | |
| SLM Corp. (Consumer Finance) | | | 666 | | | | 7,273 | |
| Spirit Realty Capital, Inc. (Equity Real Estate Investment Trusts) | | | 158 | | | | 8,339 | |
| Starwood Property Trust, Inc. (Mortgage Real Estate Investment Trusts) | | | 445 | | | | 11,419 | |
| State Street Corp. (Capital Markets) | | | 576 | | | | 43,563 | |
| Sterling Bancorp (Banks) | | | 320 | | | | 6,400 | |
| Stifel Financial Corp. (Capital Markets) | | | 107 | | | | 6,922 | |
| STORE Capital Corp. (Equity Real Estate Investment Trusts) | | | 339 | | | | 13,306 | |
| Sun Communities, Inc. (Equity Real Estate Investment Trusts) | | | 146 | | | | 23,677 | |
| Sunstone Hotel Investors, Inc. (Equity Real Estate Investment Trusts) | | | 355 | | | | 4,501 | |
| SVB Financial Group* (Banks) | | | 81 | | | | 19,467 | |
| Synchrony Financial (Consumer Finance) | | | 941 | | | | 30,498 | |
| Synovus Financial Corp. (Banks) | | | 233 | | | | 8,160 | |
| T. Rowe Price Group, Inc. (Capital Markets) | | | 370 | | | | 49,406 | |
| Taubman Centers, Inc. (Equity Real Estate Investment Trusts) | | | 97 | | | | 2,563 | |
| TCF Financial Corp. (Banks) | | | 242 | | | | 10,232 | |
| TD Ameritrade Holding Corp. (Capital Markets) | | | 419 | | | | 19,894 | |
| Texas Capital Bancshares, Inc.* (Banks) | | | 81 | | | | 4,452 | |
| TFS Financial Corp. (Thrifts & Mortgage Finance) | | | 80 | | | | 1,634 | |
| The Allstate Corp. (Insurance) | | | 512 | | | | 60,692 | |
| The Bank of New York Mellon Corp. (Capital Markets) | | | 1,328 | | | | 59,468 | |
| The Charles Schwab Corp. (Capital Markets) | | | 1,807 | | | | 82,309 | |
| The GEO Group, Inc. (Equity Real Estate Investment Trusts) | | | 192 | | | | 3,034 | |
| The Goldman Sachs Group, Inc. (Capital Markets) | | | 505 | | | | 120,065 | |
| The Hanover Insurance Group, Inc. (Insurance) | | | 62 | | | | 8,592 | |
| The Howard Hughes Corp.* (Real Estate Management & Development) | | | 68 | | | | 8,274 | |
| The Macerich Co. (Equity Real Estate Investment Trusts) | | | 173 | | | | 3,860 | |
| The PNC Financial Services Group, Inc (Banks) | | | 694 | | | | 103,094 | |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Financials UltraSector ProFund :: 53
Common Stocks, continued
| | | Shares | | | Value | |
| The Progressive Corp. (Insurance) | | | 924 | | | $ | 74,558 | |
| The Travelers Cos., Inc. (Insurance) | | | 407 | | | | 53,569 | |
| Tradeweb Markets, Inc.—Class A (Capital Markets) | | | 100 | | | | 4,618 | |
| Truist Financial Corp. (Banks) | | | 2,121 | | | | 109,380 | |
| Trustmark Corp. (Banks) | | | 102 | | | | 3,262 | |
| Two Harbors Investment Corp. (Mortgage Real Estate Investment Trusts) | | | 430 | | | | 6,562 | |
| U.S. Bancorp (Banks) | | | 2,249 | | | | 119,692 | |
| UDR, Inc. (Equity Real Estate Investment Trusts) | | | 463 | | | | 22,182 | |
| UMB Financial Corp. (Banks) | | | 68 | | | | 4,519 | |
| Umpqua Holdings Corp. (Banks) | | | 347 | | | | 5,864 | |
| United Bankshares, Inc. (Banks) | | | 160 | | | | 5,488 | |
| Unum Group (Insurance) | | | 326 | | | | 8,701 | |
| Urban Edge Properties (Equity Real Estate Investment Trusts) | | | 182 | | | | 3,347 | |
| Valley National Bancorp (Banks) | | | 617 | | | | 6,497 | |
| Ventas, Inc. (Equity Real Estate Investment Trusts) | | | 590 | | | | 34,137 | |
| VEREIT, Inc. (Equity Real Estate Investment Trusts) | | | 1,687 | | | | 16,465 | |
| VICI Properties, Inc. (Equity Real Estate Investment Trusts) | | | 730 | | | | 19,564 | |
| Virtu Financial, Inc.—Class A (Capital Markets) | | | 115 | | | | 1,919 | |
| Visa, Inc.—Class A (IT Services) | | | 3,347 | | | | 665,952 | |
| Vornado Realty Trust (Equity Real Estate Investment Trusts) | | | 252 | | | | 16,574 | |
| Voya Financial, Inc. (Diversified Financial Services) | | | 214 | | | | 12,782 | |
| W.R. Berkley Corp. (Insurance) | | | 229 | | | | 16,838 | |
| Washington Federal, Inc. (Thrifts & Mortgage Finance) | | | 123 | | | | 4,182 | |
| Washington Real Estate Investment Trust (Equity Real Estate Investment Trusts) | | | 127 | | | | 3,866 | |
| Webster Financial Corp. (Banks) | | | 145 | | | | 6,505 | |
| Weingarten Realty Investors (Equity Real Estate Investment Trusts) | | | 191 | | | | 5,558 | |
| Wells Fargo & Co. (Banks) | | | 6,088 | | | | 285,771 | |
| Welltower, Inc. (Equity Real Estate Investment Trusts) | | | 643 | | | | 54,597 | |
| Western Alliance Bancorp (Banks) | | | 149 | | | | 8,229 | |
| Weyerhaeuser Co. (Equity Real Estate Investment Trusts) | | | 1,178 | | | | 34,103 | |
| White Mountains Insurance Group, Ltd. (Insurance) | | | 6 | | | | 6,703 | |
| Willis Towers Watson PLC (Insurance) | | | 204 | | | | 43,103 | |
| Wintrust Financial Corp. (Banks) | | | 90 | | | | 5,695 | |
| WP Carey, Inc. (Equity Real Estate Investment Trusts) | | | 272 | | | | 22,881 | |
| Xenia Hotels & Resorts, Inc. (Equity Real Estate Investment Trusts) | | | 178 | | | | 3,327 | |
| Zions Bancorp (Banks) | | | 270 | | | | 12,282 | |
TOTAL COMMON STOCKS
(Cost $5,555,597) | | | | | | | 9,515,999 | |
Repurchase Agreements(a)(b) (25.8%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $3,215,390 | | $ | 3,215,000 | | | $ | 3,215,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $3,215,000) | | | | | | | 3,215,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $8,770,597)—102.1% | | | | | | | 12,730,999 | |
| Net other assets (liabilities)—(2.1)% | | | | | | | (259,009 | ) |
| NET ASSETS—100.0% | | | | | | $ | 12,471,990 | |
| * | Non-income producing security. |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See “Repurchase Agreements” under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $1,987,000. |
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Dow Jones U.S. Financials Index | | Goldman Sachs International | | 2/24/20 | | | 2.09 | % | | $ | 4,332,447 | | | $ | (122,529 | ) |
| Dow Jones U.S. Financials Index | | UBS AG | | 2/24/20 | | | 2.24 | % | | | 4,923,967 | | | | (129,367 | ) |
| | | | | | | | | | | $ | 9,256,414 | | | $ | (251,896 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
54 :: Financials UltraSector ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Financials UltraSector ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Banks | | $ | 2,562,664 | | | | 20.6 | % |
| Capital Markets | | | 1,359,963 | | | | 10.9 | % |
| Consumer Finance | | | 336,925 | | | | 2.7 | % |
| Diversified Financial Services | | | 724,135 | | | | 5.8 | % |
| Equity Real Estate Investment Trusts | | | 1,836,310 | | | | 14.8 | % |
| Insurance | | | 1,255,580 | | | | 10.1 | % |
| IT Services | | | 1,214,108 | | | | 9.7 | % |
| Mortgage Real Estate Investment Trusts | | | 90,748 | | | | 0.7 | % |
| Professional Services | | | 37,873 | | | | 0.3 | % |
| Real Estate Management & Development | | | 54,325 | | | | 0.4 | % |
| Thrifts & Mortgage Finance | | | 43,368 | | | | 0.3 | % |
| Other** | | | 2,955,991 | | | | 23.7 | % |
| Total | | $ | 12,471,990 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Health Care UltraSector ProFund :: 55
Common Stocks (75.5%)
| | | Shares | | | Value | |
| Abbott Laboratories (Health Care Equipment & Supplies) | | | 15,120 | | | $ | 1,317,558 | |
| AbbVie, Inc. (Biotechnology) | | | 12,650 | | | | 1,024,903 | |
| ABIOMED, Inc.* (Health Care Equipment & Supplies) | | | 388 | | | | 72,281 | |
| Acadia Healthcare Co., Inc.* (Health Care Providers & Services) | | | 757 | | | | 24,322 | |
| ACADIA Pharmaceuticals, Inc.* (Biotechnology) | | | 961 | | | | 38,382 | |
| Agilent Technologies, Inc. (Life Sciences Tools & Services) | | | 2,648 | | | | 218,619 | |
| Agios Pharmaceuticals, Inc.* (Biotechnology) | | | 505 | | | | 24,609 | |
| Alexion Pharmaceuticals, Inc.* (Biotechnology) | | | 1,892 | | | | 188,046 | |
| Align Technology, Inc.* (Health Care Equipment & Supplies) | | | 615 | | | | 158,117 | |
| Alkermes PLC* (Biotechnology) | | | 1,349 | | | | 23,486 | |
| Allergan PLC (Pharmaceuticals) | | | 2,809 | | | | 524,272 | |
| Allogene Therapeutics, Inc.* (Biotechnology) | | | 438 | | | | 9,513 | |
| Alnylam Pharmaceuticals, Inc.* (Biotechnology) | | | 954 | | | | 109,510 | |
| Amedisys, Inc.* (Health Care Providers & Services) | | | 276 | | | | 48,711 | |
| Amgen, Inc. (Biotechnology) | | | 5,083 | | | | 1,098,183 | |
| Anthem, Inc. (Health Care Providers & Services) | | | 2,170 | | | | 575,658 | |
| Avanos Medical, Inc.* (Health Care Equipment & Supplies) | | | 410 | | | | 11,291 | |
| Avantor, Inc.* (Life Sciences Tools & Services) | | | 1,909 | | | | 35,259 | |
| Baxter International, Inc. (Health Care Equipment & Supplies) | | | 4,368 | | | | 389,713 | |
| Becton, Dickinson & Co. (Health Care Equipment & Supplies) | | | 2,311 | | | | 635,941 | |
| Biogen, Inc.* (Biotechnology) | | | 1,542 | | | | 414,567 | |
| BioMarin Pharmaceutical, Inc.* (Biotechnology) | | | 1,536 | | | | 128,256 | |
| Bio-Rad Laboratories, Inc.*—Class A (Life Sciences Tools & Services) | | | 186 | | | | 67,131 | |
| Bio-Techne Corp. (Life Sciences Tools & Services) | | | 327 | | | | 68,660 | |
| Bluebird Bio, Inc.* (Biotechnology) | | | 474 | | | | 37,773 | |
| Blueprint Medicines Corp.* (Biotechnology) | | | 421 | | | | 26,712 | |
| Boston Scientific Corp.* (Health Care Equipment & Supplies) | | | 11,921 | | | | 499,132 | |
| Bristol-Myers Squibb Co. (Pharmaceuticals) | | | 20,051 | | | | 1,262,210 | |
| Bruker Corp. (Life Sciences Tools & Services) | | | 869 | | | | 42,989 | |
| Cantel Medical Corp. (Health Care Equipment & Supplies) | | | 321 | | | | 20,884 | |
| Catalent, Inc.* (Pharmaceuticals) | | | 1,252 | | | | 76,497 | |
| Centene Corp.* (Health Care Providers & Services) | | | 4,995 | | | | 313,747 | |
| Charles River Laboratories International, Inc.* (Life Sciences Tools & Services) | | | 419 | | | | 64,769 | |
| Chemed Corp. (Health Care Providers & Services) | | | 137 | | | | 63,984 | |
| Cigna Corp. (Health Care Providers & Services) | | | 3,197 | | | | 615,039 | |
| Covetrus, Inc.* (Health Care Providers & Services) | | | 837 | | | | 10,295 | |
| CVS Health Corp. (Health Care Providers & Services) | | | 11,130 | | | | 754,837 | |
| Danaher Corp. (Health Care Equipment & Supplies) | | | 5,469 | | | | 879,798 | |
| DaVita, Inc.* (Health Care Providers & Services) | | | 768 | | | | 61,340 | |
| DENTSPLY SIRONA, Inc. (Health Care Equipment & Supplies) | | | 1,902 | | | | 106,512 | |
| DexCom, Inc.* (Health Care Equipment & Supplies) | | | 780 | | | | 187,785 | |
| Edwards Lifesciences Corp.* (Health Care Equipment & Supplies) | | | 1,783 | | | | 392,010 | |
| Elanco Animal Health, Inc.* (Pharmaceuticals) | | | 3,192 | | | | 98,633 | |
| Eli Lilly & Co. (Pharmaceuticals) | | | 7,226 | | | | 1,009,039 | |
| Encompass Health Corp. (Health Care Providers & Services) | | | 844 | | | | 65,013 | |
| Exact Sciences Corp.* (Biotechnology) | | | 1,197 | | | | 111,656 | |
| Exelixis, Inc.* (Biotechnology) | | | 2,600 | | | | 44,720 | |
| FibroGen, Inc.* (Biotechnology) | | | 671 | | | | 28,081 | |
| Gilead Sciences, Inc. (Biotechnology) | | | 10,822 | | | | 683,950 | |
| Globus Medical, Inc.*—Class A (Health Care Equipment & Supplies) | | | 658 | | | | 34,400 | |
| Guardant Health, Inc.* (Health Care Providers & Services) | | | 345 | | | | 26,234 | |
| Haemonetics Corp.* (Health Care Equipment & Supplies) | | | 435 | | | | 46,715 | |
| HCA Healthcare, Inc. (Health Care Providers & Services) | | | 2,264 | | | | 314,243 | |
| HealthEquity, Inc.* (Health Care Providers & Services) | | | 605 | | | | 39,966 | |
| Henry Schein, Inc.* (Health Care Providers & Services) | | | 1,256 | | | | 86,589 | |
| Hill-Rom Holdings, Inc. (Health Care Equipment & Supplies) | | | 572 | | | | 60,912 | |
| Hologic, Inc.* (Health Care Equipment & Supplies) | | | 2,292 | | | | 122,668 | |
| Horizon Therapeutics PLC* (Pharmaceuticals) | | | 1,600 | | | | 55,184 | |
| Humana, Inc. (Health Care Providers & Services) | | | 1,134 | | | | 381,296 | |
| ICU Medical, Inc.* (Health Care Equipment & Supplies) | | | 165 | | | | 30,108 | |
| IDEXX Laboratories, Inc.* (Health Care Equipment & Supplies) | | | 735 | | | | 199,192 | |
| Illumina, Inc.* (Life Sciences Tools & Services) | | | 1,258 | | | | 364,908 | |
| Immunomedics, Inc.* (Biotechnology) | | | 1,572 | | | | 29,192 | |
| Incyte Corp.* (Biotechnology) | | | 1,530 | | | | 111,797 | |
| Insulet Corp.* (Health Care Equipment & Supplies) | | | 527 | | | | 102,259 | |
| Integra LifeSciences Holdings Corp.* (Health Care Equipment & Supplies) | | | 611 | | | | 33,629 | |
| Intercept Pharmaceuticals, Inc.* (Biotechnology) | | | 215 | | | | 19,868 | |
| Intuitive Surgical, Inc.* (Health Care Equipment & Supplies) | | | 989 | | | | 553,622 | |
| Ionis Pharmaceuticals, Inc.* (Biotechnology) | | | 1,093 | | | | 63,744 | |
| IQVIA Holdings, Inc.* (Life Sciences Tools & Services) | | | 1,542 | | | | 239,396 | |
| Jazz Pharmaceuticals PLC* (Pharmaceuticals) | | | 484 | | | | 69,381 | |
| Johnson & Johnson (Pharmaceuticals) | | | 22,511 | | | | 3,351,213 | |
| Laboratory Corp. of America Holdings* (Health Care Providers & Services) | | | 829 | | | | 145,407 | |
| LivaNova PLC* (Health Care Equipment & Supplies) | | | 417 | | | | 28,343 | |
| Masimo Corp.* (Health Care Equipment & Supplies) | | | 419 | | | | 71,481 | |
| McKesson Corp. (Health Care Providers & Services) | | | 1,538 | | | | 219,334 | |
See accompanying notes to the financial statements.
56 :: Health Care UltraSector ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| MEDNAX, Inc.* (Health Care Providers & Services) | | | 722 | | | $ | 16,657 | |
| Medtronic PLC (Health Care Equipment & Supplies) | | | 11,465 | | | | 1,323,521 | |
| Merck & Co., Inc. (Pharmaceuticals) | | | 21,778 | | | | 1,860,712 | |
| Mettler-Toledo International, Inc.* (Life Sciences Tools & Services) | | | 206 | | | | 155,979 | |
| Moderna, Inc.* (Biotechnology) | | | 1,766 | | | | 36,221 | |
| Molina Healthcare, Inc.* (Health Care Providers & Services) | | | 535 | | | | 65,789 | |
| Mylan N.V.* (Pharmaceuticals) | | | 4,416 | | | | 94,591 | |
| Myriad Genetics, Inc.* (Biotechnology) | | | 636 | | | | 17,585 | |
| Nektar Therapeutics* (Pharmaceuticals) | | | 1,505 | | | | 29,934 | |
| Neogen Corp.* (Health Care Equipment & Supplies) | | | 448 | | | | 30,137 | |
| Neurocrine Biosciences, Inc.* (Biotechnology) | | | 787 | | | | 78,763 | |
| NuVasive, Inc.* (Health Care Equipment & Supplies) | | | 447 | | | | 34,473 | |
| Penumbra, Inc.* (Health Care Equipment & Supplies) | | | 276 | | | | 48,427 | |
| Perrigo Co. PLC (Pharmaceuticals) | | | 1,163 | | | | 66,338 | |
| Pfizer, Inc. (Pharmaceuticals) | | | 47,337 | | | | 1,762,830 | |
| Portola Pharmaceuticals, Inc.* (Biotechnology) | | | 600 | | | | 7,674 | |
| PRA Health Sciences, Inc.* (Life Sciences Tools & Services) | | | 541 | | | | 54,809 | |
| Premier, Inc.* (Health Care Providers & Services) | | | 569 | | | | 19,784 | |
| Quest Diagnostics, Inc. (Health Care Providers & Services) | | | 1,152 | | | | 127,492 | |
| Regeneron Pharmaceuticals, Inc.* (Biotechnology) | | | 684 | | | | 231,151 | |
| Repligen Corp.* (Biotechnology) | | | 402 | | | | 40,357 | |
| ResMed, Inc. (Health Care Equipment & Supplies) | | | 1,228 | | | | 195,215 | |
| Sage Therapeutics, Inc.* (Biotechnology) | | | 443 | | | | 29,362 | |
| Sarepta Therapeutics, Inc.* (Biotechnology) | | | 605 | | | | 70,156 | |
| Seattle Genetics, Inc.* (Biotechnology) | | | 983 | | | | 106,547 | |
| STERIS PLC (Health Care Equipment & Supplies) | | | 725 | | | | 109,250 | |
| Stryker Corp. (Health Care Equipment & Supplies) | | | 2,754 | | | | 580,268 | |
| Syneos Health, Inc.* (Life Sciences Tools & Services) | | | 533 | | | | 32,705 | |
| Teladoc Health, Inc.*(a) (Health Care Technology) | | | 617 | | | | 62,755 | |
| Teleflex, Inc. (Health Care Equipment & Supplies) | | | 394 | | | | 146,375 | |
| Tenet Healthcare Corp.* (Health Care Providers & Services) | | | 887 | | | | 28,065 | |
| The Cooper Cos., Inc. (Health Care Equipment & Supplies) | | | 425 | | | | 147,428 | |
| Thermo Fisher Scientific, Inc. (Life Sciences Tools & Services) | | | 3,430 | | | | 1,074,241 | |
| Ultragenyx Pharmaceutical, Inc.* (Biotechnology) | | | 464 | | | | 24,383 | |
| United Therapeutics Corp.* (Biotechnology) | | | 376 | | | | 36,724 | |
| UnitedHealth Group, Inc. (Health Care Providers & Services) | | | 8,106 | | | | 2,208,480 | |
| Universal Health Services, Inc.—Class B (Health Care Providers & Services) | | | 686 | | | | 94,057 | |
| Varian Medical Systems, Inc.* (Health Care Equipment & Supplies) | | | 778 | | | | 109,363 | |
| Vertex Pharmaceuticals, Inc.* (Biotechnology) | | | 2,200 | | | | 499,510 | |
| Waters Corp.* (Life Sciences Tools & Services) | | | 550 | | | | 123,085 | |
| West Pharmaceutical Services, Inc. (Health Care Equipment & Supplies) | | | 633 | | | | 98,716 | |
| Zimmer Biomet Holdings, Inc. (Health Care Equipment & Supplies) | | | 1,761 | | | | 260,452 | |
| Zoetis, Inc. (Pharmaceuticals) | | | 4,074 | | | | 546,772 | |
TOTAL COMMON STOCKS
(Cost $26,662,920) | | | | | | | 34,152,607 | |
Repurchase Agreements(b)(c) (30.0%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $13,532,643 | | $ | 13,531,000 | | | $ | 13,531,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $13,531,000) | | | | | | | 13,531,000 | |
Collateral for Securities Loaned (0.1%)
| | | Shares | | | Value | |
| BlackRock Liquidity Funds FedFund Portfolio—Institutional Shares, 1.81%(d) | | | 12,606 | | | $ | 12,606 | |
| Invesco Government & Agency Portfolio—Institutional Shares, 1.77%(d) | | | 3,863 | | | | 3,863 | |
| Fidelity Investments Money Market Government Portfolio—Class I, 1.80%(d) | | | 11,993 | | | | 11,993 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $28,462) | | | | | | | 28,462 | |
TOTAL INVESTMENT SECURITIES
(Cost $40,222,382)—105.6% | | | | | | | 47,712,069 | |
| Net other assets (liabilities)—(5.6)% | | | | | | | (2,533,571 | ) |
| NET ASSETS—100.0% | | | | | | $ | 45,178,498 | |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2020. The total value of securities on loan as of January 31, 2020 was $27,055. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See “Repurchase Agreements” under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (c) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $7,711,000. |
| (d) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2020. |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Health Care UltraSector ProFund :: 57
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Dow Jones U.S. Health Care Index | | Goldman Sachs International | | 2/24/20 | | | 2.09 | % | | $ | 16,780,647 | | | $ | (825,790 | ) |
| Dow Jones U.S. Health Care Index | | UBS AG | | 2/24/20 | | | 1.94 | % | | | 16,802,356 | | | | (672,707 | ) |
| | | | | | | | | | | $ | 33,583,003 | | | $ | (1,498,497 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
Health Care UltraSector ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Biotechnology | | $ | 5,395,381 | | | | 11.9 | % |
| Health Care Equipment & Supplies | | | 9,037,976 | | | | 20.0 | % |
| Health Care Providers & Services | | | 6,306,339 | | | | 14.0 | % |
| Health Care Technology | | | 62,755 | | | | 0.1 | % |
| Life Sciences Tools & Services | | | 2,542,550 | | | | 5.6 | % |
| Pharmaceuticals | | | 10,807,606 | | | | 24.0 | % |
| Other** | | | 11,025,891 | | | | 24.4 | % |
| Total | | $ | 45,178,498 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
See accompanying notes to the financial statements.
58 :: Industrials UltraSector ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks (78.2%)
| | | Shares | | | Value | |
| 3M Co. (Industrial Conglomerates) | | | 1,227 | | | $ | 194,676 | |
| A.O. Smith Corp. (Building Products) | | | 292 | | | | 12,465 | |
| Accenture PLC—Class A (IT Services) | | | 1,354 | | | | 277,853 | |
| Acuity Brands, Inc. (Electrical Equipment) | | | 84 | | | | 9,901 | |
| ADT, Inc.(a) (Commercial Services & Supplies) | | | 223 | | | | 1,383 | |
| AECOM* (Construction & Engineering) | | | 335 | | | | 16,157 | |
| AGCO Corp. (Machinery) | | | 133 | | | | 9,329 | |
| Air Lease Corp. (Trading Companies & Distributors) | | | 223 | | | | 9,576 | |
| Allegion PLC (Building Products) | | | 198 | | | | 25,605 | |
| Alliance Data Systems Corp. (IT Services) | | | 87 | | | | 8,943 | |
| Allison Transmission Holdings, Inc. (Machinery) | | | 254 | | | | 11,227 | |
| Amcor PLC (Containers & Packaging) | | | 3,457 | | | | 36,610 | |
| AMETEK, Inc. (Electrical Equipment) | | | 487 | | | | 47,312 | |
| Amphenol Corp.—Class A (Electronic Equipment, Instruments & Components) | | | 632 | | | | 62,866 | |
| Anixter International, Inc.* (Electronic Equipment, Instruments & Components) | | | 64 | | | | 6,246 | |
| Applied Industrial Technologies, Inc. (Trading Companies & Distributors) | | | 83 | | | | 5,359 | |
| AptarGroup, Inc. (Containers & Packaging) | | | 136 | | | | 15,709 | |
| Arconic, Inc. (Aerospace & Defense) | | | 827 | | | | 24,769 | |
| Armstrong World Industries, Inc. (Building Products) | | | 104 | | | | 10,434 | |
| Arrow Electronics, Inc.* (Electronic Equipment, Instruments & Components) | | | 174 | | | | 13,214 | |
| ASGN, Inc.* (Professional Services) | | | 112 | | | | 7,581 | |
| Automatic Data Processing, Inc. (IT Services) | | | 922 | | | | 158,022 | |
| Avery Dennison Corp. (Containers & Packaging) | | | 178 | | | | 23,361 | |
| Avnet, Inc. (Electronic Equipment, Instruments & Components) | | | 216 | | | | 7,882 | |
| Axon Enterprise, Inc.* (Aerospace & Defense) | | | 126 | | | | 9,678 | |
| Ball Corp. (Containers & Packaging) | | | 697 | | | | 50,308 | |
| Barnes Group, Inc. (Machinery) | | | 102 | | | | 6,443 | |
| Belden, Inc. (Electronic Equipment, Instruments & Components) | | | 83 | | | | 4,089 | |
| Berry Global Group, Inc.* (Containers & Packaging) | | | 281 | | | | 11,948 | |
| Black Knight, Inc.* (IT Services) | | | 319 | | | | 21,347 | |
| Broadridge Financial Solutions, Inc. (IT Services) | | | 244 | | | | 29,073 | |
| BWX Technologies, Inc. (Aerospace & Defense) | | | 204 | | | | 12,972 | |
| C.H. Robinson Worldwide, Inc. (Air Freight & Logistics) | | | 288 | | | | 20,799 | |
| Carlisle Cos., Inc. (Industrial Conglomerates) | | | 121 | | | | 18,904 | |
| Caterpillar, Inc. (Machinery) | | | 1,179 | | | | 154,861 | |
| Cimpress PLC* (Commercial Services & Supplies) | | | 55 | | | | 6,580 | |
| Cintas Corp. (Commercial Services & Supplies) | | | 179 | | | | 49,936 | |
| Clean Harbors, Inc.* (Commercial Services & Supplies) | | | 109 | | | | 8,962 | |
| Cognex Corp. (Electronic Equipment, Instruments & Components) | | | 364 | | | | 18,553 | |
| Coherent, Inc.* (Electronic Equipment, Instruments & Components) | | | 51 | | | | 7,213 | |
| Colfax Corp.* (Machinery) | | | 179 | | | | 6,294 | |
| CoreLogic, Inc.* (IT Services) | | | 170 | | | | 7,905 | |
| Corning, Inc. (Electronic Equipment, Instruments & Components) | | | 1,641 | | | | 43,798 | |
| Covanta Holding Corp. (Commercial Services & Supplies) | | | 251 | | | | 3,760 | |
| Crane Co. (Machinery) | | | 108 | | | | 9,230 | |
| Crown Holdings, Inc.* (Containers & Packaging) | | | 289 | | | | 21,395 | |
| CSX Corp. (Road & Rail) | | | 1,658 | | | | 126,572 | |
| Cummins, Inc. (Machinery) | | | 327 | | | | 52,310 | |
| Curtiss-Wright Corp. (Aerospace & Defense) | | | 91 | | | | 13,234 | |
| Deere & Co. (Machinery) | | | 671 | | | | 106,406 | |
| Deluxe Corp. (Commercial Services & Supplies) | | | 90 | | | | 4,338 | |
| Dolby Laboratories, Inc.—Class A (Electronic Equipment, Instruments & Components) | | | 137 | | | | 9,500 | |
| Donaldson Co., Inc. (Machinery) | | | 270 | | | | 14,000 | |
| Dover Corp. (Machinery) | | | 310 | | | | 35,294 | |
| Eagle Materials, Inc. (Construction Materials) | | | 89 | | | | 8,114 | |
| Eaton Corp. PLC (Electrical Equipment) | | | 882 | | | | 83,323 | |
| EMCOR Group, Inc. (Construction & Engineering) | | | 120 | | | | 9,860 | |
| Emerson Electric Co. (Electrical Equipment) | | | 1,299 | | | | 93,047 | |
| EnerSys (Electrical Equipment) | | | 89 | | | | 6,404 | |
| Equifax, Inc. (Professional Services) | | | 258 | | | | 38,673 | |
| Euronet Worldwide, Inc.* (IT Services) | | | 115 | | | | 18,129 | |
| Expeditors International of Washington, Inc. (Air Freight & Logistics) | | | 363 | | | | 26,514 | |
| Fastenal Co. (Trading Companies & Distributors) | | | 1,224 | | | | 42,694 | |
| FedEx Corp. (Air Freight & Logistics) | | | 513 | | | | 74,200 | |
| Fidelity National Information Services, Inc. (IT Services) | | | 1,310 | | | | 188,194 | |
| Fiserv, Inc.* (IT Services) | | | 1,218 | | | | 144,467 | |
| FleetCor Technologies, Inc.* (IT Services) | | | 185 | | | | 58,318 | |
| FLIR Systems, Inc. (Electronic Equipment, Instruments & Components) | | | 286 | | | | 14,740 | |
| Flowserve Corp. (Machinery) | | | 280 | | | | 13,070 | |
| Fluor Corp. (Construction & Engineering) | | | 300 | | | | 5,367 | |
| Fortive Corp. (Machinery) | | | 631 | | | | 47,281 | |
| Fortune Brands Home & Security, Inc. (Building Products) | | | 297 | | | | 20,407 | |
| FTI Consulting, Inc.* (Professional Services) | | | 80 | | | | 9,605 | |
| Gardner Denver Holdings, Inc.* (Machinery) | | | 284 | | | | 10,028 | |
| Gates Industrial Corp. PLC* (Machinery) | | | 101 | | | | 1,259 | |
| GATX Corp. (Trading Companies & Distributors) | | | 75 | | | | 5,710 | |
| Generac Holdings, Inc.* (Electrical Equipment) | | | 133 | | | | 13,777 | |
| General Dynamics Corp. (Aerospace & Defense) | | | 500 | | | | 87,720 | |
| General Electric Co. (Industrial Conglomerates) | | | 18,627 | | | | 231,906 | |
| Genpact, Ltd. (IT Services) | | | 329 | | | | 14,565 | |
| Global Payments, Inc. (IT Services) | | | 641 | | | | 125,283 | |
| Graco, Inc. (Machinery) | | | 356 | | | | 18,921 | |
| GrafTech International, Ltd. (Electrical Equipment) | | | 131 | | | | 1,406 | |
| Graphic Packaging Holding Co. (Containers & Packaging) | | | 621 | | | | 9,706 | |
| HD Supply Holdings, Inc.* (Trading Companies & Distributors) | | | 354 | | | | 14,422 | |
| HEICO Corp. (Aerospace & Defense) | | | 86 | | | | 10,529 | |
| HEICO Corp.—Class A (Aerospace & Defense) | | | 155 | | | | 14,903 | |
| Hexcel Corp. (Aerospace & Defense) | | | 180 | | | | 13,360 | |
| Hillenbrand, Inc. (Machinery) | | | 158 | | | | 4,587 | |
| Honeywell International, Inc. (Industrial Conglomerates) | | | 1,523 | | | | 263,813 | |
| Hubbell, Inc. (Electrical Equipment) | | | 116 | | | | 16,615 | |
| Huntington Ingalls Industries, Inc. (Aerospace & Defense) | | | 87 | | | | 22,707 | |
| IDEX Corp. (Machinery) | | | 162 | | | | 26,544 | |
| Illinois Tool Works, Inc. (Machinery) | | | 624 | | | | 109,187 | |
| Ingersoll-Rand PLC (Machinery) | | | 511 | | | | 68,081 | |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Industrials UltraSector ProFund :: 59
Common Stocks, continued
| | | Shares | | | Value | |
| Insperity, Inc. (Professional Services) | | | 80 | | | $ | 6,990 | |
| International Paper Co. (Containers & Packaging) | | | 836 | | | | 34,042 | |
| IPG Photonics Corp.* (Electronic Equipment, Instruments & Components) | | | 76 | | | | 9,703 | |
| Itron, Inc.* (Electronic Equipment, Instruments & Components) | | | 75 | | | | 6,131 | |
| ITT, Inc. (Machinery) | | | 187 | | | | 12,544 | |
| J.B. Hunt Transport Services, Inc. (Road & Rail) | | | 182 | | | | 19,643 | |
| Jabil, Inc. (Electronic Equipment, Instruments & Components) | | | 297 | | | | 11,550 | |
| Jack Henry & Associates, Inc. (IT Services) | | | 165 | | | | 24,674 | |
| Jacobs Engineering Group, Inc. (Construction & Engineering) | | | 289 | | | | 26,742 | |
| Johnson Controls International PLC (Building Products) | | | 1,645 | | | | 64,895 | |
| Kansas City Southern Industries, Inc. (Road & Rail) | | | 211 | | | | 35,594 | |
| Kennametal, Inc. (Machinery) | | | 177 | | | | 5,538 | |
| Keysight Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | | 399 | | | | 37,103 | |
| Kirby Corp.* (Marine) | | | 127 | | | | 9,308 | |
| Knight-Swift Transportation Holdings, Inc. (Road & Rail) | | | 263 | | | | 9,752 | |
| Korn Ferry (Professional Services) | | | 118 | | | | 4,836 | |
| L3Harris Technologies, Inc. (Aerospace & Defense) | | | 472 | | | | 104,468 | |
| Landstar System, Inc. (Road & Rail) | | | 84 | | | | 9,303 | |
| Lennox International, Inc. (Building Products) | | | 74 | | | | 17,241 | |
| Lincoln Electric Holdings, Inc. (Machinery) | | | 130 | | | | 11,593 | |
| Littelfuse, Inc. (Electronic Equipment, Instruments & Components) | | | 51 | | | | 9,022 | |
| Lockheed Martin Corp. (Aerospace & Defense) | | | 529 | | | | 226,475 | |
| Louisiana-Pacific Corp. (Paper & Forest Products) | | | 251 | | | | 7,701 | |
| Macquarie Infrastructure Corp. (Transportation Infrastructure) | | | 166 | | | | 7,322 | |
| ManpowerGroup, Inc. (Professional Services) | | | 126 | | | | 11,528 | |
| Martin Marietta Materials, Inc. (Construction Materials) | | | 133 | | | | 35,085 | |
| Masco Corp. (Building Products) | | | 606 | | | | 28,797 | |
| MasTec, Inc.* (Construction & Engineering) | | | 128 | | | | 7,392 | |
| MAXIMUS, Inc. (IT Services) | | | 137 | | | | 9,830 | |
| Mercury Systems, Inc.* (Aerospace & Defense) | | | 118 | | | | 9,057 | |
| Moog, Inc.—Class A (Aerospace & Defense) | | | 68 | | | | 6,093 | |
| MSA Safety, Inc. (Commercial Services & Supplies) | | | 76 | | | | 10,306 | |
| MSC Industrial Direct Co., Inc.—Class A (Trading Companies & Distributors) | | | 96 | | | | 6,535 | |
| National Instruments Corp. (Electronic Equipment, Instruments & Components) | | | 252 | | | | 11,247 | |
| Navistar International Corp.* (Machinery) | | | 141 | | | | 5,163 | |
| Nielsen Holdings PLC (Professional Services) | | | 760 | | | | 15,504 | |
| Nordson Corp. (Machinery) | | | 109 | | | | 18,406 | |
| Norfolk Southern Corp. (Road & Rail) | | | 556 | | | | 115,765 | |
| Northrop Grumman Corp. (Aerospace & Defense) | | | 334 | | | | 125,106 | |
| nVent Electric PLC (Electrical Equipment) | | | 333 | | | | 8,292 | |
| O-I Glass, Inc. (Containers & Packaging) | | | 334 | | | | 4,215 | |
| Old Dominion Freight Line, Inc. (Road & Rail) | | | 136 | | | | 26,687 | |
| Oshkosh Corp. (Machinery) | | | 145 | | | | 12,476 | |
| Owens Corning (Building Products) | | | 232 | | | | 14,034 | |
| PACCAR, Inc. (Machinery) | | | 737 | | | | 54,693 | |
| Packaging Corp. of America (Containers & Packaging) | | | 202 | | | | 19,342 | |
| Parker-Hannifin Corp. (Machinery) | | | 274 | | | | 53,619 | |
| Paychex, Inc. (IT Services) | | | 680 | | | | 58,324 | |
| PayPal Holdings, Inc.* (IT Services) | | | 2,505 | | | | 285,293 | |
| Pentair PLC (Machinery) | | | 359 | | | | 15,412 | |
| PerkinElmer, Inc. (Life Sciences Tools & Services) | | | 237 | | | | 21,918 | |
| Quanta Services, Inc. (Construction & Engineering) | | | 303 | | | | 11,862 | |
| Raytheon Co. (Aerospace & Defense) | | | 594 | | | | 131,238 | |
| Regal Beloit Corp. (Electrical Equipment) | | | 87 | | | | 6,826 | |
| Republic Services, Inc.—Class A (Commercial Services & Supplies) | | | 449 | | | | 42,677 | |
| Resideo Technologies, Inc.* (Building Products) | | | 264 | | | | 2,688 | |
| Robert Half International, Inc. (Professional Services) | | | 251 | | | | 14,601 | |
| Rockwell Automation, Inc. (Electrical Equipment) | | | 247 | | | | 47,340 | |
| Roper Technologies, Inc. (Industrial Conglomerates) | | | 222 | | | | 84,729 | |
| Ryder System, Inc. (Road & Rail) | | | 113 | | | | 5,392 | |
| Sabre Corp. (IT Services) | | | 585 | | | | 12,601 | |
| Sealed Air Corp. (Containers & Packaging) | | | 330 | | | | 11,715 | |
| Sensata Technologies Holding PLC* (Electrical Equipment) | | | 340 | | | | 16,072 | |
| Silgan Holdings, Inc. (Containers & Packaging) | | | 166 | | | | 5,123 | |
| Siteone Landscape Supply, Inc.* (Trading Companies & Distributors) | | | 88 | | | | 8,496 | |
| Snap-on, Inc. (Machinery) | | | 117 | | | | 18,677 | |
| Sonoco Products Co. (Containers & Packaging) | | | 214 | | | | 12,228 | |
| Spirit AeroSystems Holdings, Inc.—Class A (Aerospace & Defense) | | | 221 | | | | 14,436 | |
| Square, Inc.*—Class A (IT Services) | | | 730 | | | | 54,524 | |
| Stericycle, Inc.* (Commercial Services & Supplies) | | | 194 | | | | 12,160 | |
| Summit Materials, Inc.*—Class A (Construction Materials) | | | 241 | | | | 5,295 | |
| TE Connectivity, Ltd. (Electronic Equipment, Instruments & Components) | | | 713 | | | | 65,725 | |
| Teledyne Technologies, Inc.* (Aerospace & Defense) | | | 78 | | | | 28,475 | |
| Terex Corp. (Machinery) | | | 141 | | | | 3,574 | |
| Tetra Tech, Inc. (Commercial Services & Supplies) | | | 117 | | | | 10,015 | |
| Textron, Inc. (Aerospace & Defense) | | | 487 | | | | 22,368 | |
| The Boeing Co. (Aerospace & Defense) | | | 1,140 | | | | 362,829 | |
| The Brink's Co. (Commercial Services & Supplies) | | | 107 | | | | 9,008 | |
| The Middleby Corp.* (Machinery) | | | 120 | | | | 13,459 | |
| The Sherwin-Williams Co. (Chemicals) | | | 176 | | | | 98,030 | |
| The Timken Co. (Machinery) | | | 145 | | | | 7,617 | |
| The Toro Co. (Machinery) | | | 227 | | | | 18,165 | |
| The Western Union Co. (IT Services) | | | 895 | | | | 24,076 | |
| TransDigm Group, Inc. (Aerospace & Defense) | | | 106 | | | | 68,188 | |
| TransUnion (Professional Services) | | | 401 | | | | 36,772 | |
| Trex Co., Inc.* (Building Products) | | | 125 | | | | 12,280 | |
| Trimble, Inc.* (Electronic Equipment, Instruments & Components) | | | 532 | | | | 22,621 | |
See accompanying notes to the financial statements.
60 :: Industrials UltraSector ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| TriNet Group, Inc.* (Professional Services) | | | 94 | | | $ | 5,364 | |
| Trinity Industries, Inc. (Machinery) | | | 211 | | | | 4,290 | |
| Union Pacific Corp. (Road & Rail) | | | 1,481 | | | | 265,721 | |
| United Parcel Service, Inc.—Class B (Air Freight & Logistics) | | | 1,495 | | | | 154,763 | |
| United Rentals, Inc.* (Trading Companies & Distributors) | | | 160 | | | | 21,710 | |
| United Technologies Corp. (Aerospace & Defense) | | | 1,730 | | | | 259,846 | |
| Univar Solutions, Inc.* (Trading Companies & Distributors) | | | 295 | | | | 6,357 | |
| Valmont Industries, Inc. (Construction & Engineering) | | | 47 | | | | 6,677 | |
| Verisk Analytics, Inc.—Class A (Professional Services) | | | 350 | | | | 56,864 | |
| Vishay Intertechnology, Inc. (Electronic Equipment, Instruments & Components) | | | 284 | | | | 5,762 | |
| Vulcan Materials Co. (Construction Materials) | | | 282 | | | | 39,940 | |
| W.W. Grainger, Inc. (Trading Companies & Distributors) | | | 93 | | | | 28,149 | |
| Waste Management, Inc. (Commercial Services & Supplies) | | | 833 | | | | 101,375 | |
| Watsco, Inc. (Trading Companies & Distributors) | | | 69 | | | | 12,000 | |
| Welbilt, Inc.* (Machinery) | | | 281 | | | | 4,240 | |
| WESCO International, Inc.* (Trading Companies & Distributors) | | | 89 | | | | 4,308 | |
| Westinghouse Air Brake Technologies Corp. (Machinery) | | | 388 | | | | 28,658 | |
| WestRock Co. (Containers & Packaging) | | | 551 | | | | 21,489 | |
| WEX, Inc.* (IT Services) | | | 92 | | | | 19,957 | |
| Woodward, Inc. (Machinery) | | | 121 | | | | 14,074 | |
| XPO Logistics, Inc.* (Air Freight & Logistics) | | | 197 | | | | 17,517 | |
| Xylem, Inc. (Machinery) | | | 384 | | | | 31,357 | |
| Zebra Technologies Corp.*—Class A (Electronic Equipment, Instruments & Components) | | | 115 | | | | 27,487 | |
TOTAL COMMON STOCKS
(Cost $4,588,568) | | | | | | | 8,031,694 | |
Repurchase Agreements(b)(c) (24.9%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $2,559,311 | | $ | 2,559,000 | | | $ | 2,559,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $2,559,000) | | | | | | | 2,559,000 | |
Collateral for Securities Loaned(NM)
| | | Shares | | | Value | |
| BlackRock Liquidity Funds FedFund Portfolio—Institutional Shares, 1.81%(d) | | | 297 | | | $ | 297 | |
| Invesco Government & Agency Portfolio—Institutional Shares, 1.77%(d) | | | 91 | | | | 91 | |
| Fidelity Investments Money Market Government Portfolio—Class I, 1.80%(d) | | | 282 | | | | 282 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $670) | | | | | | | 670 | |
TOTAL INVESTMENT SECURITIES
(Cost $7,148,238)—103.1% | | | | | | | 10,591,364 | |
| Net other assets (liabilities)—(3.1)% | | | | | | | (316,858 | ) |
| NET ASSETS—100.0% | | | | | | $ | 10,274,506 | |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2020. The total value of securities on loan as of January 31, 2020 was $639. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (c) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $1,457,000. |
| (d) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2020. |
| NM | Not meaningful, amount is less than 0.05%. |
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Dow Jones U.S. Industrials Index | | Goldman Sachs International | | 2/24/20 | | | 2.09 | % | | $ | 3,583,097 | | | $ | (141,555 | ) |
| Dow Jones U.S. Industrials Index | | UBS AG | | 2/24/20 | | | 1.94 | % | | | 3,794,959 | | | | (138,552 | ) |
| | | | | | | | | | | $ | 7,378,056 | | | $ | (280,107 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Industrials UltraSector ProFund :: 61
Industrials UltraSector ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 1,568,451 | | | | 15.3 | % |
| Air Freight & Logistics | | | 293,793 | | | | 2.9 | % |
| Building Products | | | 208,846 | | | | 2.0 | % |
| Chemicals | | | 98,030 | | | | 1.0 | % |
| Commercial Services & Supplies | | | 260,500 | | | | 2.5 | % |
| Construction & Engineering | | | 84,057 | | | | 0.8 | % |
| Construction Materials | | | 88,434 | | | | 0.9 | % |
| Containers & Packaging | | | 277,191 | | | | 2.7 | % |
| Electrical Equipment | | | 350,315 | | | | 3.4 | % |
| Electronic Equipment, Instruments & Components | | | 394,452 | | | | 3.8 | % |
| Industrial Conglomerates | | | 794,028 | | | | 7.7 | % |
| IT Services | | | 1,541,378 | | | | 15.0 | % |
| Life Sciences Tools & Services | | | 21,918 | | | | 0.2 | % |
| Machinery | | | 1,037,907 | | | | 10.1 | % |
| Marine | | | 9,308 | | | | 0.1 | % |
| Paper & Forest Products | | | 7,701 | | | | 0.1 | % |
| Professional Services | | | 208,318 | | | | 2.0 | % |
| Road & Rail | | | 614,429 | | | | 6.0 | % |
| Trading Companies & Distributors | | | 165,316 | | | | 1.6 | % |
| Transportation Infrastructure | | | 7,322 | | | | 0.1 | % |
| Other** | | | 2,242,812 | | | | 21.8 | % |
| Total | | $ | 10,274,506 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
See accompanying notes to the financial statements.
62 :: Internet UltraSector ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks (79.0%)
| | | Shares | | | Value | |
| 2U, Inc.* (Software) | | | 46,698 | | | $ | 925,087 | |
| 8x8, Inc.* (Software) | | | 65,222 | | | | 1,214,434 | |
| Akamai Technologies, Inc.* (IT Services) | | | 31,912 | | | | 2,978,985 | |
| Alphabet, Inc.*—Class A (Interactive Media & Services) | | | 4,060 | | | | 5,817,087 | |
| Alphabet, Inc.*—Class C (Interactive Media & Services) | | | 4,050 | | | | 5,808,632 | |
| Amazon.com, Inc.* (Internet & Direct Marketing Retail) | | | 5,973 | | | | 11,998,084 | |
| Arista Networks, Inc.* (Communications Equipment) | | | 12,458 | | | | 2,782,370 | |
| Box, Inc.*—Class A (Software) | | | 77,111 | | | | 1,158,978 | |
| Ciena Corp.* (Communications Equipment) | | | 51,480 | | | | 2,093,692 | |
| Cisco Systems, Inc. (Communications Equipment) | | | 146,603 | | | | 6,739,339 | |
| Citrix Systems, Inc. (Software) | | | 24,326 | | | | 2,948,798 | |
| CommScope Holding Co., Inc.* (Communications Equipment) | | | 100,076 | | | | 1,219,426 | |
| Cornerstone OnDemand, Inc.* (Software) | | | 24,837 | | | | 1,460,416 | |
| DocuSign, Inc.* (Software) | | | 31,012 | | | | 2,434,752 | |
| Dropbox, Inc.* (Software) | | | 89,556 | | | | 1,524,243 | |
| E*TRADE Financial Corp. (Capital Markets) | | | 52,523 | | | | 2,238,530 | |
| eBay, Inc. (Internet & Direct Marketing Retail) | | | 102,171 | | | | 3,428,858 | |
| Etsy, Inc.* (Internet & Direct Marketing Retail) | | | 42,218 | | | | 2,060,661 | |
| Expedia Group, Inc. (Internet & Direct Marketing Retail) | | | 25,415 | | | | 2,756,257 | |
| Facebook, Inc.*—Class A (Interactive Media & Services) | | | 44,069 | | | | 8,897,971 | |
| GoDaddy, Inc.*—Class A (IT Services) | | | 37,960 | | | | 2,551,292 | |
| Groupon, Inc.* (Internet & Direct Marketing Retail) | | | 352,998 | | | | 1,016,634 | |
| GrubHub, Inc.* (Internet & Direct Marketing Retail) | | | 38,197 | | | | 2,068,368 | |
| Hubspot, Inc.* (Software) | | | 12,722 | | | | 2,301,919 | |
| j2 Global, Inc. (Software) | | | 17,505 | | | | 1,678,029 | |
| Juniper Networks, Inc. (Communications Equipment) | | | 88,933 | | | | 2,040,123 | |
| LogMeIn, Inc. (Software) | | | 19,734 | | | | 1,696,532 | |
| Netflix, Inc.* (Entertainment) | | | 18,730 | | | | 6,463,536 | |
| New Relic, Inc.* (Software) | | | 22,194 | | | | 1,465,026 | |
| Okta, Inc.* (IT Services) | | | 23,190 | | | | 2,969,480 | |
| PayPal Holdings, Inc.* (IT Services) | | | 51,792 | | | | 5,898,591 | |
| Pinterest, Inc.*—Class A (Interactive Media & Services) | | | 59,178 | | | | 1,303,691 | |
| Pluralsight, Inc.*—Class A (Software) | | | 62,702 | | | | 1,215,792 | |
| Salesforce.com, Inc.* (Software) | | | 36,705 | | | | 6,691,689 | |
| Smartsheet, Inc.* (Software) | | | 36,744 | | | | 1,781,349 | |
| Snap, Inc.* (Interactive Media & Services) | | | 172,926 | | | | 3,178,380 | |
| TD Ameritrade Holding Corp. (Capital Markets) | | | 51,987 | | | | 2,468,343 | |
| Twitter, Inc.* (Interactive Media & Services) | | | 111,008 | | | | 3,605,540 | |
| Veeva Systems, Inc.*—Class A (Health Care Technology) | | | 21,568 | | | | 3,162,084 | |
| VeriSign, Inc.* (IT Services) | | | 16,492 | | | | 3,432,645 | |
| Vonage Holdings Corp.* (Diversified Telecommunication Services) | | | 151,628 | | | | 1,344,940 | |
TOTAL COMMON STOCKS
(Cost $63,160,607) | | | | | | | 128,820,583 | |
Repurchase Agreements(a)(b) (23.6%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $38,525,676 | | $ | 38,521,000 | | | $ | 38,521,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $38,521,000) | | | | | | | 38,521,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $101,681,607)—102.6% | | | | | | | 167,341,583 | |
| Net other assets (liabilities)—(2.6)% | | | | | | | (4,252,616 | ) |
| NET ASSETS—100.0% | | | | | | $ | 163,088,967 | |
| * | Non-income producing security. |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $24,677,000. |
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Dow Jones Internet Composite Index | | Goldman Sachs International | | 2/24/20 | | | 2.09 | % | | $ | 54,155,146 | | | $ | (1,977,713 | ) |
| Dow Jones Internet Composite Index | | UBS AG | | 2/24/20 | | | 1.94 | % | | | 61,409,879 | | | | (2,016,249 | ) |
| | | | | | | | | | | $ | 115,565,025 | | | $ | (3,993,962 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Internet UltraSector ProFund :: 63
Internet UltraSector ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Capital Markets | | $ | 4,706,873 | | | | 2.9 | % |
| Communications Equipment | | | 14,874,950 | | | | 9.1 | % |
| Diversified Telecommunication Services | | | 1,344,940 | | | | 0.8 | % |
| Entertainment | | | 6,463,536 | | | | 4.0 | % |
| Health Care Technology | | | 3,162,084 | | | | 1.9 | % |
| Interactive Media & Services | | | 28,611,302 | | | | 17.6 | % |
| Internet & Direct Marketing Retail | | | 23,328,862 | | | | 14.3 | % |
| IT Services | | | 17,830,992 | | | | 10.9 | % |
| Software | | | 28,497,044 | | | | 17.5 | % |
| Other** | | | 34,268,384 | | | | 21.0 | % |
| Total | | $ | 163,088,967 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
See accompanying notes to the financial statements.
64 :: Large-Cap Growth ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks (100.1%)
| | | Shares | | | Value | |
| Abbott Laboratories (Health Care Equipment & Supplies) | | | 1,476 | | | $ | 128,618 | |
| AbbVie, Inc. (Biotechnology) | | | 1,126 | | | | 91,229 | |
| ABIOMED, Inc.* (Health Care Equipment & Supplies) | | | 35 | | | | 6,520 | |
| Accenture PLC—Class A (IT Services) | | | 575 | | | | 117,996 | |
| Adobe, Inc.* (Software) | | | 697 | | | | 244,745 | |
| Advanced Micro Devices, Inc.* (Semiconductors & Semiconductor Equipment) | | | 1,603 | | | | 75,341 | |
| Agilent Technologies, Inc. (Life Sciences Tools & Services) | | | 255 | | | | 21,053 | |
| Air Products & Chemicals, Inc. (Chemicals) | | | 317 | | | | 75,671 | |
| Akamai Technologies, Inc.* (IT Services) | | | 169 | | | | 15,776 | |
| Alexandria Real Estate Equities, Inc. (Equity Real Estate Investment Trusts) | | | 89 | | | | 14,525 | |
| Alexion Pharmaceuticals, Inc.* (Biotechnology) | | | 185 | | | | 18,387 | |
| Align Technology, Inc.* (Health Care Equipment & Supplies) | | | 103 | | | | 26,481 | |
| Allegion PLC (Building Products) | | | 134 | | | | 17,329 | |
| Alphabet, Inc.*—Class A (Interactive Media & Services) | | | 279 | | | | 399,746 | |
| Alphabet, Inc.*—Class C (Interactive Media & Services) | | | 430 | | | | 616,719 | |
| Altria Group, Inc. (Tobacco) | | | 1,049 | | | | 49,859 | |
| Amazon.com, Inc.* (Internet & Direct Marketing Retail) | | | 600 | | | | 1,205,232 | |
| American Express Co. (Consumer Finance) | | | 579 | | | | 75,195 | |
| American Tower Corp. (Equity Real Estate Investment Trusts) | | | 635 | | | | 147,154 | |
| American Water Works Co., Inc. (Water Utilities) | | | 130 | | | | 17,706 | |
| Ameriprise Financial, Inc. (Capital Markets) | | | 118 | | | | 19,518 | |
| AMETEK, Inc. (Electrical Equipment) | | | 328 | | | | 31,865 | |
| Amgen, Inc. (Biotechnology) | | | 504 | | | | 108,889 | |
| Amphenol Corp.—Class A (Electronic Equipment, Instruments & Components) | | | 428 | | | | 42,573 | |
| Analog Devices, Inc. (Semiconductors & Semiconductor Equipment) | | | 531 | | | | 58,277 | |
| ANSYS, Inc.* (Software) | | | 124 | | | | 34,017 | |
| Aon PLC (Insurance) | | | 212 | | | | 46,693 | |
| Apache Corp. (Oil, Gas & Consumable Fuels) | | | 337 | | | | 9,247 | |
| Apple, Inc. (Technology Hardware, Storage & Peripherals) | | | 6,004 | | | | 1,858,298 | |
| Applied Materials, Inc. (Semiconductors & Semiconductor Equipment) | | | 1,330 | | | | 77,127 | |
| Arconic, Inc. (Aerospace & Defense) | | | 279 | | | | 8,356 | |
| Arista Networks, Inc.* (Communications Equipment) | | | 78 | | | | 17,421 | |
| Arthur J. Gallagher & Co. (Insurance) | | | 137 | | | | 14,052 | |
| Autodesk, Inc.* (Software) | | | 317 | | | | 62,401 | |
| Automatic Data Processing, Inc. (IT Services) | | | 384 | | | | 65,814 | |
| AutoZone, Inc.* (Specialty Retail) | | | 33 | | | | 34,913 | |
| Avery Dennison Corp. (Containers & Packaging) | | | 85 | | | | 11,155 | |
| Ball Corp. (Containers & Packaging) | | | 333 | | | | 24,036 | |
| Baxter International, Inc. (Health Care Equipment & Supplies) | | | 332 | | | | 29,621 | |
| BlackRock, Inc.—Class A (Capital Markets) | | | 87 | | | | 45,879 | |
| Booking Holdings, Inc.* (Internet & Direct Marketing Retail) | | | 59 | | | | 108,002 | |
| Boston Properties, Inc. (Equity Real Estate Investment Trusts) | | | 90 | | | | 12,902 | |
| Boston Scientific Corp.* (Health Care Equipment & Supplies) | | | 1,185 | | | | 49,616 | |
| Bristol-Myers Squibb Co. (Pharmaceuticals) | | | 1,855 | | | | 116,772 | |
| Broadcom, Inc. (Semiconductors & Semiconductor Equipment) | | | 567 | | | | 173,026 | |
| Broadridge Financial Solutions, Inc. (IT Services) | | | 116 | | | | 13,821 | |
| Brown-Forman Corp.—Class B (Beverages) | | | 263 | | | | 17,789 | |
| Cabot Oil & Gas Corp. (Oil, Gas & Consumable Fuels) | | | 371 | | | | 5,227 | |
| Cadence Design Systems, Inc.* (Software) | | | 404 | | | | 29,132 | |
| Campbell Soup Co. (Food Products) | | | 109 | | | | 5,275 | |
| CarMax, Inc.* (Specialty Retail) | | | 238 | | | | 23,096 | |
| Caterpillar, Inc. (Machinery) | | | 469 | | | | 61,604 | |
| CBOE Global Markets, Inc. (Capital Markets) | | | 160 | | | | 19,715 | |
| CBRE Group, Inc.*—Class A (Real Estate Management & Development) | | | 484 | | | | 29,548 | |
| CDW Corp. (Electronic Equipment, Instruments & Components) | | | 208 | | | | 27,134 | |
| Celanese Corp. (Chemicals) | | | 174 | | | | 18,009 | |
| Centene Corp.* (Health Care Providers & Services) | | | — | † | | | 1 | |
| Cerner Corp. (Health Care Technology) | | | 285 | | | | 20,472 | |
| Charter Communications, Inc.*—Class A (Media) | | | 226 | | | | 116,946 | |
| Chipotle Mexican Grill, Inc.* (Hotels, Restaurants & Leisure) | | | 35 | | | | 30,337 | |
| Church & Dwight Co., Inc. (Household Products) | | | 191 | | | | 14,176 | |
| Cimarex Energy Co. (Oil, Gas & Consumable Fuels) | | | 82 | | | | 3,599 | |
| Cincinnati Financial Corp. (Insurance) | | | 101 | | | | 10,600 | |
| Cintas Corp. (Commercial Services & Supplies) | | | 121 | | | | 33,755 | |
| Citrix Systems, Inc. (Software) | | | 90 | | | | 10,910 | |
| CME Group, Inc. (Capital Markets) | | | 263 | | | | 57,100 | |
| Colgate-Palmolive Co. (Household Products) | | | 556 | | | | 41,022 | |
| Comcast Corp.—Class A (Media) | | | 3,657 | | | | 157,946 | |
| ConocoPhillips (Oil, Gas & Consumable Fuels) | | | 1,577 | | | | 93,721 | |
| Copart, Inc.* (Commercial Services & Supplies) | | | 295 | | | | 29,931 | |
| Corning, Inc. (Electronic Equipment, Instruments & Components) | | | 520 | | | | 13,879 | |
| Costco Wholesale Corp. (Food & Staples Retailing) | | | 375 | | | | 114,570 | |
| Coty, Inc.—Class A (Personal Products) | | | 200 | | | | 2,052 | |
| Crown Castle International Corp. (Equity Real Estate Investment Trusts) | | | 346 | | | | 51,845 | |
| CSX Corp. (Road & Rail) | | | 560 | | | | 42,750 | |
| Cummins, Inc. (Machinery) | | | 139 | | | | 22,236 | |
| D.R. Horton, Inc. (Household Durables) | | | 484 | | | | 28,653 | |
| Danaher Corp. (Health Care Equipment & Supplies) | | | 587 | | | | 94,431 | |
| Darden Restaurants, Inc. (Hotels, Restaurants & Leisure) | | | 82 | | | | 9,547 | |
| Deere & Co. (Machinery) | | | 266 | | | | 42,182 | |
| DENTSPLY SIRONA, Inc. (Health Care Equipment & Supplies) | | | 170 | | | | 9,520 | |
| Discover Financial Services (Consumer Finance) | | | 278 | | | | 20,886 | |
| Dollar General Corp. (Multiline Retail) | | | 366 | | | | 56,148 | |
| Dover Corp. (Machinery) | | | 124 | | | | 14,117 | |
| Dow, Inc. (Chemicals) | | | 1,066 | | | | 49,111 | |
| Duke Realty Corp. (Equity Real Estate Investment Trusts) | | | 312 | | | | 11,329 | |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Large-Cap Growth ProFund :: 65
Common Stocks, continued
| | | Shares | | | Value | |
| eBay, Inc. (Internet & Direct Marketing Retail) | | | 1,100 | | | $ | 36,916 | |
| Ecolab, Inc. (Chemicals) | | | 183 | | | | 35,888 | |
| Edwards Lifesciences Corp.* (Health Care Equipment & Supplies) | | | 298 | | | | 65,518 | |
| Electronic Arts, Inc.* (Entertainment) | | | 223 | | | | 24,066 | |
| Eli Lilly & Co. (Pharmaceuticals) | | | 670 | | | | 93,559 | |
| Emerson Electric Co. (Electrical Equipment) | | | 474 | | | | 33,953 | |
| EOG Resources, Inc. (Oil, Gas & Consumable Fuels) | | | 420 | | | | 30,622 | |
| Equifax, Inc. (Professional Services) | | | 104 | | | | 15,590 | |
| Equinix, Inc. (Equity Real Estate Investment Trusts) | | | 123 | | | | 72,537 | |
| Essex Property Trust, Inc. (Equity Real Estate Investment Trusts) | | | 48 | | | | 14,868 | |
| Expeditors International of Washington, Inc. (Air Freight & Logistics) | | | 128 | | | | 9,349 | |
| Extra Space Storage, Inc. (Equity Real Estate Investment Trusts) | | | 107 | | | | 11,843 | |
| Facebook, Inc.*—Class A (Interactive Media & Services) | | | 3,460 | | | | 698,608 | |
| Fastenal Co. (Trading Companies & Distributors) | | | 580 | | | | 20,230 | |
| Federal Realty Investment Trust (Equity Real Estate Investment Trusts) | | | 43 | | | | 5,376 | |
| First Horizon National Corp. (Banks) | | | 1 | | | | 13 | |
| First Republic Bank (Banks) | | | 119 | | | | 13,195 | |
| Fiserv, Inc.* (IT Services) | | | 822 | | | | 97,497 | |
| FleetCor Technologies, Inc.* (IT Services) | | | 125 | | | | 39,404 | |
| FLIR Systems, Inc. (Electronic Equipment, Instruments & Components) | | | 94 | | | | 4,845 | |
| FMC Corp. (Chemicals) | | | 186 | | | | 17,780 | |
| Fortinet, Inc.* (Software) | | | 205 | | | | 23,649 | |
| Fortune Brands Home & Security, Inc. (Building Products) | | | 200 | | | | 13,742 | |
| Freeport-McMoRan, Inc. (Metals & Mining) | | | 1,150 | | | | 12,765 | |
| Garmin, Ltd. (Household Durables) | | | 210 | | | | 20,360 | |
| Gartner, Inc.* (IT Services) | | | 129 | | | | 20,741 | |
| Global Payments, Inc. (IT Services) | | | 212 | | | | 41,435 | |
| Healthpeak Properties, Inc. (Equity Real Estate Investment Trusts) | | | 335 | | | | 12,057 | |
| Hess Corp. (Oil, Gas & Consumable Fuels) | | | 373 | | | | 21,101 | |
| Hilton Worldwide Holdings, Inc. (Hotels, Restaurants & Leisure) | | | 406 | | | | 43,767 | |
| Hologic, Inc.* (Health Care Equipment & Supplies) | | | 211 | | | | 11,293 | |
| Honeywell International, Inc. (Industrial Conglomerates) | | | 472 | | | | 81,760 | |
| Huntington Ingalls Industries, Inc. (Aerospace & Defense) | | | 33 | | | | 8,613 | |
| IDEX Corp. (Machinery) | | | 62 | | | | 10,159 | |
| IDEXX Laboratories, Inc.* (Health Care Equipment & Supplies) | | | 124 | | | | 33,605 | |
| IHS Markit, Ltd.* (Professional Services) | | | 422 | | | | 33,278 | |
| Illinois Tool Works, Inc. (Machinery) | | | 257 | | | | 44,970 | |
| Illumina, Inc.* (Life Sciences Tools & Services) | | | 128 | | | | 37,129 | |
| Incyte Corp.* (Biotechnology) | | | 260 | | | | 18,998 | |
| Ingersoll-Rand PLC (Machinery) | | | 213 | | | | 28,378 | |
| Intel Corp. (Semiconductors & Semiconductor Equipment) | | | 3,568 | | | | 228,103 | |
| Intercontinental Exchange, Inc. (Capital Markets) | | | 442 | | | | 44,085 | |
| Intuit, Inc. (Software) | | | 375 | | | | 105,143 | |
| Intuitive Surgical, Inc.* (Health Care Equipment & Supplies) | | | 165 | | | | 92,364 | |
| IPG Photonics Corp.* (Electronic Equipment, Instruments & Components) | | | 26 | | | | 3,319 | |
| IQVIA Holdings, Inc.* (Life Sciences Tools & Services) | | | 178 | | | | 27,635 | |
| J.B. Hunt Transport Services, Inc. (Road & Rail) | | | 73 | | | | 7,879 | |
| Jack Henry & Associates, Inc. (IT Services) | | | 58 | | | | 8,673 | |
| Johnson & Johnson (Pharmaceuticals) | | | 1,590 | | | | 236,703 | |
| JPMorgan Chase & Co. (Banks) | | | 2,165 | | | | 286,559 | |
| Kansas City Southern Industries, Inc. (Road & Rail) | | | 144 | | | | 24,291 | |
| Keysight Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | | 268 | | | | 24,921 | |
| Kimberly-Clark Corp. (Household Products) | | | 242 | | | | 34,664 | |
| KLA Corp. (Semiconductors & Semiconductor Equipment) | | | 228 | | | | 37,789 | |
| L3Harris Technologies, Inc. (Aerospace & Defense) | | | 318 | | | | 70,383 | |
| Lam Research Corp. (Semiconductors & Semiconductor Equipment) | | | 209 | | | | 62,326 | |
| Lamb Weston Holding, Inc. (Food Products) | | | 115 | | | | 10,501 | |
| Las Vegas Sands Corp. (Hotels, Restaurants & Leisure) | | | 277 | | | | 18,091 | |
| Leggett & Platt, Inc. (Household Durables) | | | 126 | | | | 5,996 | |
| Leidos Holdings, Inc. (IT Services) | | | 95 | | | | 9,545 | |
| Linde PLC (Chemicals) | | | 548 | | | | 111,315 | |
| Live Nation Entertainment, Inc.* (Entertainment) | | | 138 | | | | 9,406 | |
| LKQ Corp.* (Distributors) | | | 232 | | | | 7,583 | |
| Lockheed Martin Corp. (Aerospace & Defense) | | | 357 | | | | 152,838 | |
| Lowe's Cos., Inc. (Specialty Retail) | | | 727 | | | | 84,506 | |
| MarketAxess Holdings, Inc. (Capital Markets) | | | 55 | | | | 19,480 | |
| Marriott International, Inc.—Class A (Hotels, Restaurants & Leisure) | | | 391 | | | | 54,722 | |
| Marsh & McLennan Cos., Inc. (Insurance) | | | 443 | | | | 49,554 | |
| Martin Marietta Materials, Inc. (Construction Materials) | | | 90 | | | | 23,742 | |
| Masco Corp. (Building Products) | | | 410 | | | | 19,483 | |
| MasterCard, Inc.—Class A (IT Services) | | | 1,276 | | | | 403,139 | |
| Maxim Integrated Products, Inc. (Semiconductors & Semiconductor Equipment) | | | 172 | | | | 10,341 | |
| McCormick & Co., Inc. (Food Products) | | | 90 | | | | 14,703 | |
| McDonald's Corp. (Hotels, Restaurants & Leisure) | | | 476 | | | | 101,850 | |
| Merck & Co., Inc. (Pharmaceuticals) | | | 2,015 | | | | 172,162 | |
| Mettler-Toledo International, Inc.* (Life Sciences Tools & Services) | | | 23 | | | | 17,415 | |
| MGM Resorts International (Hotels, Restaurants & Leisure) | | | 454 | | | | 14,101 | |
| Microchip Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 345 | | | | 33,631 | |
| Micron Technology, Inc.* (Semiconductors & Semiconductor Equipment) | | | 1,592 | | | | 84,519 | |
| Microsoft Corp. (Software) | | | 10,970 | | | | 1,867,423 | |
| Mid-America Apartment Communities, Inc. (Equity Real Estate Investment Trusts) | | | 76 | | | | 10,428 | |
| Monster Beverage Corp.* (Beverages) | | | 368 | | | | 24,509 | |
| Moody's Corp. (Capital Markets) | | | 234 | | | | 60,089 | |
| Motorola Solutions, Inc. (Communications Equipment) | | | 246 | | | | 43,542 | |
See accompanying notes to the financial statements.
66 :: Large-Cap Growth ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| MSCI, Inc.—Class A (Capital Markets) | | | 122 | | | $ | 34,868 | |
| Nasdaq, Inc. (Capital Markets) | | | 77 | | | | 8,967 | |
| National Oilwell Varco, Inc. (Energy Equipment & Services) | | | 172 | | | | 3,545 | |
| NetApp, Inc. (Technology Hardware, Storage & Peripherals) | | | 152 | | | | 8,117 | |
| Netflix, Inc.* (Entertainment) | | | 629 | | | | 217,062 | |
| NextEra Energy, Inc. (Electric Utilities) | | | 372 | | | | 99,771 | |
| NIKE, Inc.—Class B (Textiles, Apparel & Luxury Goods) | | | 1,202 | | | | 115,753 | |
| Norfolk Southern Corp. (Road & Rail) | | | 203 | | | | 42,267 | |
| Northrop Grumman Corp. (Aerospace & Defense) | | | 226 | | | | 84,653 | |
| NortonLifelock, Inc. (Software) | | | 513 | | | | 14,579 | |
| NRG Energy, Inc. (Independent Power and Renewable Electricity Producers) | | | 365 | | | | 13,465 | |
| NVIDIA Corp. (Semiconductors & Semiconductor Equipment) | | | 880 | | | | 208,058 | |
| NVR, Inc.* (Household Durables) | | | 5 | | | | 19,085 | |
| Old Dominion Freight Line, Inc. (Road & Rail) | | | 91 | | | | 17,857 | |
| Oracle Corp. (Software) | | | 1,872 | | | | 98,186 | |
| O'Reilly Automotive, Inc.* (Specialty Retail) | | | 107 | | | | 43,453 | |
| PACCAR, Inc. (Machinery) | | | 497 | | | | 36,882 | |
| Parker-Hannifin Corp. (Machinery) | | | 102 | | | | 19,960 | |
| Paychex, Inc. (IT Services) | | | 309 | | | | 26,503 | |
| Paycom Software, Inc.* (Software) | | | 71 | | | | 22,589 | |
| PayPal Holdings, Inc.* (IT Services) | | | 1,687 | | | | 192,132 | |
| PepsiCo, Inc. (Beverages) | | | 963 | | | | 136,765 | |
| PerkinElmer, Inc. (Life Sciences Tools & Services) | | | 91 | | | | 8,416 | |
| Philip Morris International, Inc. (Tobacco) | | | 984 | | | | 81,377 | |
| Phillips 66 (Oil, Gas & Consumable Fuels) | | | 321 | | | | 29,330 | |
| Pioneer Natural Resources Co. (Oil, Gas & Consumable Fuels) | | | 147 | | | | 19,845 | |
| PPG Industries, Inc. (Chemicals) | | | 174 | | | | 20,852 | |
| Prologis, Inc. (Equity Real Estate Investment Trusts) | | | 519 | | | | 48,205 | |
| Public Storage (Equity Real Estate Investment Trusts) | | | 94 | | | | 21,033 | |
| PulteGroup, Inc. (Household Durables) | | | 368 | | | | 16,431 | |
| Qorvo, Inc.* (Semiconductors & Semiconductor Equipment) | | | 168 | | | | 17,784 | |
| Qualcomm, Inc. (Semiconductors & Semiconductor Equipment) | | | 1,643 | | | | 140,164 | |
| Quanta Services, Inc. (Construction & Engineering) | | | 93 | | | | 3,641 | |
| Raytheon Co. (Aerospace & Defense) | | | 241 | | | | 53,247 | |
| Realty Income Corp. (Equity Real Estate Investment Trusts) | | | 210 | | | | 16,466 | |
| Regeneron Pharmaceuticals, Inc.* (Biotechnology) | | | 77 | | | | 26,021 | |
| Republic Services, Inc.—Class A (Commercial Services & Supplies) | | | 142 | | | | 13,497 | |
| ResMed, Inc. (Health Care Equipment & Supplies) | | | 208 | | | | 33,066 | |
| Rockwell Automation, Inc. (Electrical Equipment) | | | 92 | | | | 17,633 | |
| Rollins, Inc. (Commercial Services & Supplies) | | | 96 | | | | 3,643 | |
| Roper Technologies, Inc. (Industrial Conglomerates) | | | 148 | | | | 56,486 | |
| Ross Stores, Inc. (Specialty Retail) | | | 522 | | | | 58,563 | |
| S&P Global, Inc. (Capital Markets) | | | 351 | | | | 103,099 | |
| Salesforce.com, Inc.* (Software) | | | 1,275 | | | | 232,445 | |
| SBA Communications Corp. (Equity Real Estate Investment Trusts) | | | 161 | | | | 40,179 | |
| Seagate Technology PLC (Technology Hardware, Storage & Peripherals) | | | 201 | | | | 11,455 | |
| Sempra Energy (Multi-Utilities) | | | 182 | | | | 29,236 | |
| ServiceNow, Inc.* (Software) | | | 270 | | | | 91,322 | |
| Simon Property Group, Inc. (Equity Real Estate Investment Trusts) | | | 176 | | | | 23,434 | |
| Skyworks Solutions, Inc. (Semiconductors & Semiconductor Equipment) | | | 143 | | | | 16,180 | |
| Starbucks Corp. (Hotels, Restaurants & Leisure) | | | 1,698 | | | | 144,041 | |
| STERIS PLC (Health Care Equipment & Supplies) | | | 65 | | | | 9,795 | |
| Stryker Corp. (Health Care Equipment & Supplies) | | | 305 | | | | 64,264 | |
| SVB Financial Group* (Banks) | | | 48 | | | | 11,536 | |
| Synchrony Financial (Consumer Finance) | | | 856 | | | | 27,743 | |
| Synopsys, Inc.* (Software) | | | 214 | | | | 31,567 | |
| Sysco Corp. (Food & Staples Retailing) | | | 332 | | | | 27,270 | |
| T. Rowe Price Group, Inc. (Capital Markets) | | | 249 | | | | 33,249 | |
| Take-Two Interactive Software, Inc.* (Entertainment) | | | 162 | | | | 20,192 | |
| Target Corp. (Multiline Retail) | | | 466 | | | | 51,605 | |
| TE Connectivity, Ltd. (Electronic Equipment, Instruments & Components) | | | 241 | | | | 22,215 | |
| Teleflex, Inc. (Health Care Equipment & Supplies) | | | 68 | | | | 25,263 | |
| Texas Instruments, Inc. (Semiconductors & Semiconductor Equipment) | | | 834 | | | | 100,622 | |
| The Boeing Co. (Aerospace & Defense) | | | 338 | | | | 107,575 | |
| The Charles Schwab Corp. (Capital Markets) | | | 1,202 | | | | 54,751 | |
| The Coca-Cola Co. (Beverages) | | | 2,220 | | | | 129,648 | |
| The Cooper Cos., Inc. (Health Care Equipment & Supplies) | | | 41 | | | | 14,222 | |
| The Estee Lauder Co., Inc. (Personal Products) | | | 320 | | | | 62,451 | |
| The Hershey Co. (Food Products) | | | 144 | | | | 22,344 | |
| The Home Depot, Inc. (Specialty Retail) | | | 1,113 | | | | 253,874 | |
| The Procter & Gamble Co. (Household Products) | | | 2,081 | | | | 259,335 | |
| The Progressive Corp. (Insurance) | | | 513 | | | | 41,394 | |
| The Sherwin-Williams Co. (Chemicals) | | | 118 | | | | 65,725 | |
| The TJX Cos., Inc. (Specialty Retail) | | | 1,744 | | | | 102,966 | |
| The Walt Disney Co. (Entertainment) | | | 1,581 | | | | 218,668 | |
| The Western Union Co. (IT Services) | | | 605 | | | | 16,275 | |
| Thermo Fisher Scientific, Inc. (Life Sciences Tools & Services) | | | 576 | | | | 180,396 | |
| Tiffany & Co. (Specialty Retail) | | | 157 | | | | 21,041 | |
| Tractor Supply Co. (Specialty Retail) | | | 84 | | | | 7,808 | |
| TransDigm Group, Inc. (Aerospace & Defense) | | | 73 | | | | 46,959 | |
| Tyson Foods, Inc.—Class A (Food Products) | | | 207 | | | | 17,104 | |
| UDR, Inc. (Equity Real Estate Investment Trusts) | | | 200 | | | | 9,582 | |
| Ulta Beauty, Inc.* (Specialty Retail) | | | 46 | | | | 12,324 | |
| Union Pacific Corp. (Road & Rail) | | | 618 | | | | 110,882 | |
| United Parcel Service, Inc.—Class B (Air Freight & Logistics) | | | 453 | | | | 46,895 | |
| United Rentals, Inc.* (Trading Companies & Distributors) | | | 107 | | | | 14,519 | |
| United Technologies Corp. (Aerospace & Defense) | | | 617 | | | | 92,673 | |
| Varian Medical Systems, Inc.* (Health Care Equipment & Supplies) | | | 73 | | | | 10,262 | |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Large-Cap Growth ProFund :: 67
Common Stocks, continued
| | | Shares | | | Value | |
| VeriSign, Inc.* (IT Services) | | | 78 | | | $ | 16,235 | |
| Verisk Analytics, Inc.—Class A (Professional Services) | | | 161 | | | | 26,158 | |
| Vertex Pharmaceuticals, Inc.* (Biotechnology) | | | 370 | | | | 84,009 | |
| VF Corp. (Textiles, Apparel & Luxury Goods) | | | 251 | | | | 20,825 | |
| Visa, Inc.—Class A (IT Services) | | | 2,461 | | | | 489,666 | |
| Vulcan Materials Co. (Construction Materials) | | | 189 | | | | 26,768 | |
| Waste Management, Inc. (Commercial Services & Supplies) | | | 324 | | | | 39,431 | |
| Waters Corp.* (Life Sciences Tools & Services) | | | 58 | | | | 12,980 | |
| Willis Towers Watson PLC (Insurance) | | | 89 | | | | 18,805 | |
| Wynn Resorts, Ltd. (Hotels, Restaurants & Leisure) | | | 139 | | | | 17,536 | |
| Xerox Holdings Corp. (Technology Hardware, Storage & Peripherals) | | | 268 | | | | 9,533 | |
| Xilinx, Inc. (Semiconductors & Semiconductor Equipment) | | | 226 | | | | 19,092 | |
| Xylem, Inc. (Machinery) | | | 154 | | | | 12,576 | |
| YUM! Brands, Inc. (Hotels, Restaurants & Leisure) | | | 436 | | | | 46,116 | |
| Zebra Technologies Corp.*—Class A (Electronic Equipment, Instruments & Components) | | | 77 | | | | 18,405 | |
| Zoetis, Inc. (Pharmaceuticals) | | | 685 | | | | 91,934 | |
TOTAL COMMON STOCKS
(Cost $10,327,734) | | | | | | | 20,605,453 | |
Repurchase Agreements(a) (0.1%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $23,003 | | $ | 23,000 | | | $ | 23,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $23,000) | | | | | | | 23,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $10,350,734)—100.2% | | | | | | | 20,628,453 | |
| Net other assets (liabilities)—(0.2)% | | | | | | | (39,375 | ) |
| NET ASSETS—100.0% | | | | | | $ | 20,589,078 | |
| † | Number of shares is less than 0.50. |
| * | Non-income producing security. |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
See accompanying notes to the financial statements.
68 :: Large-Cap Growth ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Large-Cap Growth ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 625,298 | | | | 3.0 | % |
| Air Freight & Logistics | | | 56,244 | | | | 0.3 | % |
| Banks | | | 311,303 | | | | 1.5 | % |
| Beverages | | | 308,711 | | | | 1.5 | % |
| Biotechnology | | | 347,533 | | | | 1.7 | % |
| Building Products | | | 50,554 | | | | 0.2 | % |
| Capital Markets | | | 500,801 | | | | 2.4 | % |
| Chemicals | | | 394,351 | | | | 1.9 | % |
| Commercial Services & Supplies | | | 120,257 | | | | 0.6 | % |
| Communications Equipment | | | 60,963 | | | | 0.3 | % |
| Construction & Engineering | | | 3,641 | | | | NM | |
| Construction Materials | | | 50,510 | | | | 0.2 | % |
| Consumer Finance | | | 123,824 | | | | 0.6 | % |
| Containers & Packaging | | | 35,191 | | | | 0.2 | % |
| Distributors | | | 7,583 | | | | NM | |
| Electric Utilities | | | 99,770 | | | | 0.5 | % |
| Electrical Equipment | | | 83,451 | | | | 0.4 | % |
| Electronic Equipment, Instruments & Components | | | 157,291 | | | | 0.8 | % |
| Energy Equipment & Services | | | 3,545 | | | | NM | |
| Entertainment | | | 489,394 | | | | 2.4 | % |
| Equity Real Estate Investment Trusts | | | 523,763 | | | | 2.5 | % |
| Food & Staples Retailing | | | 141,840 | | | | 0.7 | % |
| Food Products | | | 69,927 | | | | 0.3 | % |
| Health Care Equipment & Supplies | | | 704,459 | | | | 3.4 | % |
| Health Care Providers & Services | | | 1 | | | | NM | |
| Health Care Technology | | | 20,472 | | | | 0.1 | % |
| Hotels, Restaurants & Leisure | | | 480,108 | | | | 2.3 | % |
| Household Durables | | | 90,525 | | | | 0.4 | % |
| Household Products | | | 349,196 | | | | 1.7 | % |
| Independent Power and Renewable Electricity Producers | | | 13,465 | | | | 0.1 | % |
| Industrial Conglomerates | | | 138,246 | | | | 0.7 | % |
| Insurance | | | 181,098 | | | | 0.9 | % |
| Interactive Media & Services | | | 1,715,073 | | | | 8.4 | % |
| Internet & Direct Marketing Retail | | | 1,350,150 | | | | 6.6 | % |
| IT Services | | | 1,574,652 | | | | 7.7 | % |
| Life Sciences Tools & Services | | | 305,024 | | | | 1.5 | % |
| Machinery | | | 293,064 | | | | 1.4 | % |
| Media | | | 274,892 | | | | 1.3 | % |
| Metals & Mining | | | 12,765 | | | | 0.1 | % |
| Multiline Retail | | | 107,753 | | | | 0.5 | % |
| Multi-Utilities | | | 29,236 | | | | 0.1 | % |
| Oil, Gas & Consumable Fuels | | | 212,692 | | | | 1.0 | % |
| Personal Products | | | 64,503 | | | | 0.3 | % |
| Pharmaceuticals | | | 711,130 | | | | 3.5 | % |
| Professional Services | | | 75,026 | | | | 0.4 | % |
| Real Estate Management & Development | | | 29,548 | | | | 0.1 | % |
| Road & Rail | | | 245,926 | | | | 1.2 | % |
| Semiconductors & Semiconductor Equipment | | | 1,342,380 | | | | 6.5 | % |
| Software | | | 2,868,108 | | | | 14.0 | % |
| Specialty Retail | | | 642,544 | | | | 3.1 | % |
| Technology Hardware, Storage & Peripherals | | | 1,887,403 | | | | 9.3 | % |
| Textiles, Apparel & Luxury Goods | | | 136,578 | | | | 0.7 | % |
| Tobacco | | | 131,236 | | | | 0.6 | % |
| Trading Companies & Distributors | | | 34,749 | | | | 0.2 | % |
| Water Utilities | | | 17,706 | | | | 0.1 | % |
| Other** | | | (16,375 | ) | | | (0.1 | )% |
| Total | | $ | 20,589,078 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
| NM | Not meaningful, amount is less than 0.05%. |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Large-Cap Value ProFund :: 69
Common Stocks (99.8%)
| | | Shares | | | Value | |
| 3M Co. (Industrial Conglomerates) | | | 1,156 | | | $ | 183,411 | |
| A.O. Smith Corp. (Building Products) | | | 276 | | | | 11,782 | |
| Abbott Laboratories (Health Care Equipment & Supplies) | | | 1,493 | | | | 130,100 | |
| AbbVie, Inc. (Biotechnology) | | | 1,398 | | | | 113,266 | |
| ABIOMED, Inc.* (Health Care Equipment & Supplies) | | | 40 | | | | 7,452 | |
| Accenture PLC—Class A (IT Services) | | | 473 | | | | 97,064 | |
| Activision Blizzard, Inc. (Entertainment) | | | 1,544 | | | | 90,293 | |
| Advance Auto Parts, Inc. (Specialty Retail) | | | 138 | | | | 18,182 | |
| Aflac, Inc. (Insurance) | | | 1,474 | | | | 76,014 | |
| Agilent Technologies, Inc. (Life Sciences Tools & Services) | | | 267 | | | | 22,044 | |
| Akamai Technologies, Inc.* (IT Services) | | | 91 | | | | 8,495 | |
| Alaska Air Group, Inc. (Airlines) | | | 247 | | | | 15,954 | |
| Albemarle Corp. (Chemicals) | | | 213 | | | | 17,100 | |
| Alexandria Real Estate Equities, Inc. (Equity Real Estate Investment Trusts) | | | 106 | | | | 17,299 | |
| Alexion Pharmaceuticals, Inc.* (Biotechnology) | | | 187 | | | | 18,586 | |
| Allergan PLC (Pharmaceuticals) | | | 661 | | | | 123,369 | |
| Alliance Data Systems Corp. (IT Services) | | | 83 | | | | 8,532 | |
| Alliant Energy Corp. (Electric Utilities) | | | 483 | | | | 28,671 | |
| Altria Group, Inc. (Tobacco) | | | 2,291 | | | | 108,891 | |
| Amcor PLC (Containers & Packaging) | | | 3,258 | | | | 34,501 | |
| Ameren Corp. (Multi-Utilities) | | | 494 | | | | 40,533 | |
| American Airlines Group, Inc. (Airlines) | | | 783 | | | | 21,016 | |
| American Electric Power Co., Inc. (Electric Utilities) | | | 994 | | | | 103,595 | |
| American Express Co. (Consumer Finance) | | | 541 | | | | 70,260 | |
| American International Group, Inc. (Insurance) | | | 1,748 | | | | 87,853 | |
| American Water Works Co., Inc. (Water Utilities) | | | 182 | | | | 24,788 | |
| Ameriprise Financial, Inc. (Capital Markets) | | | 89 | | | | 14,721 | |
| AmerisourceBergen Corp. (Health Care Providers & Services) | | | 301 | | | | 25,754 | |
| Amgen, Inc. (Biotechnology) | | | 490 | | | | 105,865 | |
| Anthem, Inc. (Health Care Providers & Services) | | | 510 | | | | 135,293 | |
| Aon PLC (Insurance) | | | 174 | | | | 38,324 | |
| Apache Corp. (Oil, Gas & Consumable Fuels) | | | 286 | | | | 7,848 | |
| Apartment Investment & Management Co. (Equity Real Estate Investment Trusts) | | | 299 | | | | 15,760 | |
| Aptiv PLC (Auto Components) | | | 513 | | | | 43,497 | |
| Archer-Daniels-Midland Co. (Food Products) | | | 1,119 | | | | 50,086 | |
| Arconic, Inc. (Aerospace & Defense) | | | 389 | | | | 11,651 | |
| Arthur J. Gallagher & Co. (Insurance) | | | 184 | | | | 18,873 | |
| Assurant, Inc. (Insurance) | | | 121 | | | | 15,798 | |
| AT&T, Inc. (Diversified Telecommunication Services) | | | 14,686 | | | | 552,488 | |
| Atmos Energy Corp. (Gas Utilities) | | | 240 | | | | 28,087 | |
| Automatic Data Processing, Inc. (IT Services) | | | 330 | | | | 56,559 | |
| AvalonBay Communities, Inc. (Equity Real Estate Investment Trusts) | | | 280 | | | | 60,672 | |
| Avery Dennison Corp. (Containers & Packaging) | | | 48 | | | | 6,300 | |
| Baker Hughes Co.—Class A (Energy Equipment & Services) | | | 1,307 | | | | 28,310 | |
| Ball Corp. (Containers & Packaging) | | | 190 | | | | 13,714 | |
| Bank of America Corp. (Banks) | | | 16,275 | | | | 534,308 | |
| Baxter International, Inc. (Health Care Equipment & Supplies) | | | 566 | | | | 50,499 | |
| Becton, Dickinson & Co. (Health Care Equipment & Supplies) | | | 544 | | | | 149,697 | |
| Berkshire Hathaway, Inc.*—Class B (Diversified Financial Services) | | | 3,933 | | | | 882,683 | |
| Best Buy Co., Inc. (Specialty Retail) | | | 458 | | | | 38,788 | |
| Biogen, Inc.* (Biotechnology) | | | 364 | | | | 97,861 | |
| BlackRock, Inc.—Class A (Capital Markets) | | | 116 | | | | 61,173 | |
| BorgWarner, Inc. (Auto Components) | | | 416 | | | | 14,265 | |
| Boston Properties, Inc. (Equity Real Estate Investment Trusts) | | | 162 | | | | 23,223 | |
| Boston Scientific Corp.* (Health Care Equipment & Supplies) | | | 1,149 | | | | 48,109 | |
| Bristol-Myers Squibb Co. (Pharmaceuticals) | | | 2,120 | | | | 133,454 | |
| Broadridge Financial Solutions, Inc. (IT Services) | | | 67 | | | | 7,983 | |
| C.H. Robinson Worldwide, Inc. (Air Freight & Logistics) | | | 272 | | | | 19,644 | |
| Cabot Oil & Gas Corp. (Oil, Gas & Consumable Fuels) | | | 304 | | | | 4,283 | |
| Campbell Soup Co. (Food Products) | | | 190 | | | | 9,194 | |
| Capital One Financial Corp. (Consumer Finance) | | | 937 | | | | 93,512 | |
| Capri Holdings, Ltd.* (Textiles, Apparel & Luxury Goods) | | | 304 | | | | 9,108 | |
| Cardinal Health, Inc. (Health Care Providers & Services) | | | 589 | | | | 30,163 | |
| Carnival Corp.—Class A (Hotels, Restaurants & Leisure) | | | 804 | | | | 34,998 | |
| Caterpillar, Inc. (Machinery) | | | 456 | | | | 59,897 | |
| Centene Corp.* (Health Care Providers & Services) | | | 1,172 | | | | 73,613 | |
| CenterPoint Energy, Inc. (Multi-Utilities) | | | 1,009 | | | | 26,718 | |
| CenturyLink, Inc. (Diversified Telecommunication Services) | | | 1,973 | | | | 26,951 | |
| Cerner Corp. (Health Care Technology) | | | 233 | | | | 16,736 | |
| CF Industries Holdings, Inc. (Chemicals) | | | 438 | | | | 17,643 | |
| Chevron Corp. (Oil, Gas & Consumable Fuels) | | | 3,800 | | | | 407,132 | |
| Chubb, Ltd. (Insurance) | | | 911 | | | | 138,462 | |
| Church & Dwight Co., Inc. (Household Products) | | | 226 | | | | 16,774 | |
| Cigna Corp. (Health Care Providers & Services) | | | 751 | | | | 144,477 | |
| Cimarex Energy Co. (Oil, Gas & Consumable Fuels) | | | 94 | | | | 4,126 | |
| Cincinnati Financial Corp. (Insurance) | | | 164 | | | | 17,212 | |
| Cisco Systems, Inc. (Communications Equipment) | | | 8,527 | | | | 391,986 | |
| Citigroup, Inc. (Banks) | | | 4,390 | | | | 326,660 | |
| Citizens Financial Group, Inc. (Banks) | | | 875 | | | | 32,620 | |
| Citrix Systems, Inc. (Software) | | | 118 | | | | 14,304 | |
| CME Group, Inc. (Capital Markets) | | | 353 | | | | 76,639 | |
| CMS Energy Corp. (Multi-Utilities) | | | 571 | | | | 39,119 | |
| Cognizant Technology Solutions Corp. (IT Services) | | | 1,102 | | | | 67,641 | |
| Colgate-Palmolive Co. (Household Products) | | | 948 | | | | 69,943 | |
| Comcast Corp.—Class A (Media) | | | 4,015 | | | | 173,407 | |
| Comerica, Inc. (Banks) | | | 290 | | | | 17,736 | |
| Conagra Brands, Inc. (Food Products) | | | 979 | | | | 32,229 | |
| Concho Resources, Inc. (Oil, Gas & Consumable Fuels) | | | 404 | | | | 30,615 | |
| Consolidated Edison, Inc. (Multi-Utilities) | | | 669 | | | | 62,886 | |
See accompanying notes to the financial statements.
70 :: Large-Cap Value ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Constellation Brands, Inc.—Class A (Beverages) | | | 338 | | | $ | 63,645 | |
| Corning, Inc. (Electronic Equipment, Instruments & Components) | | | 820 | | | | 21,886 | |
| Corteva, Inc. (Chemicals) | | | 1,503 | | | | 43,467 | |
| Costco Wholesale Corp. (Food & Staples Retailing) | | | 366 | | | | 111,820 | |
| Coty, Inc.—Class A (Personal Products) | | | 316 | | | | 3,242 | |
| Crown Castle International Corp. (Equity Real Estate Investment Trusts) | | | 351 | | | | 52,594 | |
| CSX Corp. (Road & Rail) | | | 783 | | | | 59,774 | |
| Cummins, Inc. (Machinery) | | | 114 | | | | 18,237 | |
| CVS Health Corp. (Health Care Providers & Services) | | | 2,615 | | | | 177,349 | |
| Danaher Corp. (Health Care Equipment & Supplies) | | | 463 | | | | 74,483 | |
| Darden Restaurants, Inc. (Hotels, Restaurants & Leisure) | | | 134 | | | | 15,602 | |
| DaVita, Inc.* (Health Care Providers & Services) | | | 180 | | | | 14,377 | |
| Deere & Co. (Machinery) | | | 261 | | | | 41,389 | |
| Delta Air Lines, Inc. (Airlines) | | | 1,157 | | | | 64,490 | |
| DENTSPLY SIRONA, Inc. (Health Care Equipment & Supplies) | | | 210 | | | | 11,760 | |
| Devon Energy Corp. (Oil, Gas & Consumable Fuels) | | | 778 | | | | 16,898 | |
| Diamondback Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 324 | | | | 24,106 | |
| Digital Realty Trust, Inc. (Equity Real Estate Investment Trusts) | | | 419 | | | | 51,533 | |
| Discover Financial Services (Consumer Finance) | | | 240 | | | | 18,031 | |
| Discovery, Inc.* (Media) | | | 318 | | | | 9,305 | |
| Discovery, Inc.*—Class C (Media) | | | 673 | | | | 18,689 | |
| Dish Network Corp.*—Class A (Media) | | | 513 | | | | 18,858 | |
| Dollar Tree, Inc.* (Multiline Retail) | | | 475 | | | | 41,358 | |
| Dominion Energy, Inc. (Multi-Utilities) | | | 1,655 | | | | 141,917 | |
| Dover Corp. (Machinery) | | | 120 | | | | 13,662 | |
| DTE Energy Co. (Multi-Utilities) | | | 386 | | | | 51,187 | |
| Duke Energy Corp. (Electric Utilities) | | | 1,467 | | | | 143,223 | |
| Duke Realty Corp. (Equity Real Estate Investment Trusts) | | | 302 | | | | 10,966 | |
| DuPont de Nemours, Inc. (Chemicals) | | | 1,490 | | | | 76,257 | |
| DXC Technology Co. (IT Services) | | | 515 | | | | 16,418 | |
| E*TRADE Financial Corp. (Capital Markets) | | | 456 | | | | 19,435 | |
| Eastman Chemical Co. (Chemicals) | | | 274 | | | | 19,528 | |
| Eaton Corp. PLC (Electrical Equipment) | | | 831 | | | | 78,504 | |
| Ecolab, Inc. (Chemicals) | | | 246 | | | | 48,243 | |
| Edison International (Electric Utilities) | | | 721 | | | | 55,193 | |
| Electronic Arts, Inc.* (Entertainment) | | | 276 | | | | 29,786 | |
| Eli Lilly & Co. (Pharmaceuticals) | | | 765 | | | | 106,825 | |
| Emerson Electric Co. (Electrical Equipment) | | | 563 | | | | 40,328 | |
| Entergy Corp. (Electric Utilities) | | | 400 | | | | 52,608 | |
| EOG Resources, Inc. (Oil, Gas & Consumable Fuels) | | | 584 | | | | 42,579 | |
| Equifax, Inc. (Professional Services) | | | 98 | | | | 14,690 | |
| Equity Residential (Equity Real Estate Investment Trusts) | | | 703 | | | | 58,404 | |
| Essex Property Trust, Inc. (Equity Real Estate Investment Trusts) | | | 65 | | | | 20,134 | |
| Everest Re Group, Ltd. (Insurance) | | | 82 | | | | 22,679 | |
| Evergy, Inc. (Electric Utilities) | | | 458 | | | | 33,049 | |
| Eversource Energy (Electric Utilities) | | | 651 | | | | 60,178 | |
| Exelon Corp. (Electric Utilities) | | | 1,953 | | | | 92,943 | |
| Expedia Group, Inc. (Internet & Direct Marketing Retail) | | | 280 | | | | 30,366 | |
| Expeditors International of Washington, Inc. (Air Freight & Logistics) | | | 164 | | | | 11,979 | |
| Extra Space Storage, Inc. (Equity Real Estate Investment Trusts) | | | 110 | | | | 12,175 | |
| Exxon Mobil Corp. (Oil, Gas & Consumable Fuels) | | | 8,506 | | | | 528,392 | |
| F5 Networks, Inc.* (Communications Equipment) | | | 122 | | | | 14,899 | |
| Fastenal Co. (Trading Companies & Distributors) | | | 346 | | | | 12,068 | |
| Federal Realty Investment Trust (Equity Real Estate Investment Trusts) | | | 82 | | | | 10,252 | |
| FedEx Corp. (Air Freight & Logistics) | | | 483 | | | | 69,861 | |
| Fidelity National Information Services, Inc. (IT Services) | | | 1,236 | | | | 177,564 | |
| Fifth Third Bancorp (Banks) | | | 1,427 | | | | 40,598 | |
| First Horizon National Corp. (Banks) | | | 1 | | | | 14 | |
| First Republic Bank (Banks) | | | 171 | | | | 18,960 | |
| FirstEnergy Corp. (Electric Utilities) | | | 1,087 | | | | 55,209 | |
| FLIR Systems, Inc. (Electronic Equipment, Instruments & Components) | | | 141 | | | | 7,267 | |
| Flowserve Corp. (Machinery) | | | 263 | | | | 12,277 | |
| Ford Motor Co. (Automobiles) | | | 7,828 | | | | 69,043 | |
| Fortive Corp. (Machinery) | | | 594 | | | | 44,508 | |
| Fox Corp.—Class A (Media) | | | 712 | | | | 26,401 | |
| Fox Corp.—Class B (Media) | | | 326 | | | | 11,844 | |
| Franklin Resources, Inc. (Capital Markets) | | | 559 | | | | 14,143 | |
| Freeport-McMoRan, Inc. (Metals & Mining) | | | 1,312 | | | | 14,563 | |
| General Dynamics Corp. (Aerospace & Defense) | | | 471 | | | | 82,632 | |
| General Electric Co. (Industrial Conglomerates) | | | 17,559 | | | | 218,610 | |
| General Mills, Inc. (Food Products) | | | 1,216 | | | | 63,500 | |
| General Motors Co. (Automobiles) | | | 2,528 | | | | 84,410 | |
| Genuine Parts Co. (Distributors) | | | 293 | | | | 27,416 | |
| Gilead Sciences, Inc. (Biotechnology) | | | 2,543 | | | | 160,717 | |
| Global Payments, Inc. (IT Services) | | | 308 | | | | 60,199 | |
| Globe Life, Inc. (Insurance) | | | 202 | | | | 21,061 | |
| H&R Block, Inc. (Diversified Consumer Services) | | | 392 | | | | 9,094 | |
| Halliburton Co. (Energy Equipment & Services) | | | 1,767 | | | | 38,538 | |
| Hanesbrands, Inc. (Textiles, Apparel & Luxury Goods) | | | 727 | | | | 10,004 | |
| Harley-Davidson, Inc. (Automobiles) | | | 310 | | | | 10,354 | |
| Hartford Financial Services Group, Inc. (Insurance) | | | 724 | | | | 42,919 | |
| Hasbro, Inc. (Leisure Products) | | | 258 | | | | 26,282 | |
| HCA Healthcare, Inc. (Health Care Providers & Services) | | | 532 | | | | 73,842 | |
| Healthpeak Properties, Inc. (Equity Real Estate Investment Trusts) | | | 529 | | | | 19,039 | |
| Helmerich & Payne, Inc. (Energy Equipment & Services) | | | 218 | | | | 8,840 | |
| Henry Schein, Inc.* (Health Care Providers & Services) | | | 294 | | | | 20,268 | |
| Hewlett Packard Enterprises Co. (Technology Hardware, Storage & Peripherals) | | | 2,600 | | | | 36,218 | |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Large-Cap Value ProFund :: 71
Common Stocks, continued
| | | Shares | | | Value | |
| HollyFrontier Corp. (Oil, Gas & Consumable Fuels) | | | 298 | | | $ | 13,386 | |
| Hologic, Inc.* (Health Care Equipment & Supplies) | | | 248 | | | | 13,273 | |
| Honeywell International, Inc. (Industrial Conglomerates) | | | 777 | | | | 134,592 | |
| Hormel Foods Corp. (Food Products) | | | 559 | | | | 26,418 | |
| Host Hotels & Resorts, Inc. (Equity Real Estate Investment Trusts) | | | 1,440 | | | | 23,530 | |
| HP, Inc. (Technology Hardware, Storage & Peripherals) | | | 2,979 | | | | 63,512 | |
| Humana, Inc. (Health Care Providers & Services) | | | 266 | | | | 89,440 | |
| Huntington Bancshares, Inc. (Banks) | | | 2,077 | | | | 28,185 | |
| Huntington Ingalls Industries, Inc. (Aerospace & Defense) | | | 35 | | | | 9,135 | |
| IDEX Corp. (Machinery) | | | 64 | | | | 10,486 | |
| IHS Markit, Ltd.* (Professional Services) | | | 217 | | | | 17,113 | |
| Illinois Tool Works, Inc. (Machinery) | | | 229 | | | | 40,070 | |
| Illumina, Inc.* (Life Sciences Tools & Services) | | | 118 | | | | 34,228 | |
| Ingersoll-Rand PLC (Machinery) | | | 183 | | | | 24,381 | |
| Intel Corp. (Semiconductors & Semiconductor Equipment) | | | 3,760 | | | | 240,377 | |
| Intercontinental Exchange, Inc. (Capital Markets) | | | 504 | | | | 50,269 | |
| International Business Machines Corp. (IT Services) | | | 1,781 | | | | 255,982 | |
| International Flavors & Fragrances, Inc.(a) (Chemicals) | | | 214 | | | | 28,058 | |
| International Paper Co. (Containers & Packaging) | | | 789 | | | | 32,128 | |
| Invesco, Ltd. (Capital Markets) | | | 749 | | | | 12,958 | |
| IPG Photonics Corp.* (Electronic Equipment, Instruments & Components) | | | 37 | | | | 4,724 | |
| IQVIA Holdings, Inc.* (Life Sciences Tools & Services) | | | 113 | | | | 17,543 | |
| Iron Mountain, Inc. (Equity Real Estate Investment Trusts) | | | 575 | | | | 18,176 | |
| J.B. Hunt Transport Services, Inc. (Road & Rail) | | | 69 | | | | 7,447 | |
| Jack Henry & Associates, Inc. (IT Services) | | | 73 | | | | 10,916 | |
| Jacobs Engineering Group, Inc. (Construction & Engineering) | | | 273 | | | | 25,260 | |
| Johnson & Johnson (Pharmaceuticals) | | | 3,067 | | | | 456,585 | |
| Johnson Controls International PLC (Building Products) | | | 1,549 | | | | 61,108 | |
| JPMorgan Chase & Co. (Banks) | | | 3,277 | | | | 433,744 | |
| Juniper Networks, Inc. (Communications Equipment) | | | 672 | | | | 15,416 | |
| Kellogg Co. (Food Products) | | | 501 | | | | 34,173 | |
| KeyCorp (Banks) | | | 1,981 | | | | 37,065 | |
| Kimberly-Clark Corp. (Household Products) | | | 352 | | | | 50,420 | |
| Kimco Realty Corp. (Equity Real Estate Investment Trusts) | | | 849 | | | | 16,173 | |
| Kinder Morgan, Inc. (Oil, Gas & Consumable Fuels) | | | 3,917 | | | | 81,748 | |
| Kohl's Corp. (Multiline Retail) | | | 316 | | | | 13,509 | |
| L Brands, Inc. (Specialty Retail) | | | 467 | | | | 10,816 | |
| Laboratory Corp. of America Holdings* (Health Care Providers & Services) | | | 194 | | | | 34,028 | |
| Lamb Weston Holding, Inc. (Food Products) | | | 133 | | | | 12,144 | |
| Las Vegas Sands Corp. (Hotels, Restaurants & Leisure) | | | 293 | | | | 19,136 | |
| Leggett & Platt, Inc. (Household Durables) | | | 90 | | | | 4,283 | |
| Leidos Holdings, Inc. (IT Services) | | | 134 | | | | 13,463 | |
| Lennar Corp.—Class A (Household Durables) | | | 563 | | | | 37,361 | |
| Lincoln National Corp. (Insurance) | | | 398 | | | | 21,683 | |
| Linde PLC (Chemicals) | | | 314 | | | | 63,782 | |
| Live Nation Entertainment, Inc.* (Entertainment) | | | 93 | | | | 6,339 | |
| LKQ Corp.* (Distributors) | | | 295 | | | | 9,642 | |
| Loews Corp. (Insurance) | | | 514 | | | | 26,445 | |
| Lowe's Cos., Inc. (Specialty Retail) | | | 525 | | | | 61,026 | |
| LyondellBasell Industries N.V.—Class A (Chemicals) | | | 515 | | | | 40,098 | |
| M&T Bank Corp. (Banks) | | | 265 | | | | 44,658 | |
| Macy's, Inc. (Multiline Retail) | | | 622 | | | | 9,921 | |
| Marathon Oil Corp. (Oil, Gas & Consumable Fuels) | | | 1,609 | | | | 18,294 | |
| Marathon Petroleum Corp. (Oil, Gas & Consumable Fuels) | | | 1,305 | | | | 71,123 | |
| Marriott International, Inc.—Class A (Hotels, Restaurants & Leisure) | | | 1 | | | | 90 | |
| Marsh & McLennan Cos., Inc. (Insurance) | | | 396 | | | | 44,297 | |
| Maxim Integrated Products, Inc. (Semiconductors & Semiconductor Equipment) | | | 303 | | | | 18,216 | |
| McCormick & Co., Inc. (Food Products) | | | 121 | | | | 19,768 | |
| McDonald's Corp. (Hotels, Restaurants & Leisure) | | | 848 | | | | 181,446 | |
| McKesson Corp. (Health Care Providers & Services) | | | 363 | | | | 51,767 | |
| Medtronic PLC (Health Care Equipment & Supplies) | | | 2,694 | | | | 310,994 | |
| Merck & Co., Inc. (Pharmaceuticals) | | | 2,305 | | | | 196,939 | |
| MetLife, Inc. (Insurance) | | | 1,571 | | | | 78,094 | |
| Mettler-Toledo International, Inc.* (Life Sciences Tools & Services) | | | 18 | | | | 13,629 | |
| MGM Resorts International (Hotels, Restaurants & Leisure) | | | 403 | | | | 12,517 | |
| Mid-America Apartment Communities, Inc. (Equity Real Estate Investment Trusts) | | | 126 | | | | 17,288 | |
| Mohawk Industries, Inc.* (Household Durables) | | | 120 | | | | 15,802 | |
| Molson Coors Beverage Co.—Class B (Beverages) | | | 377 | | | | 20,954 | |
| Mondelez International, Inc.—Class A (Food Products) | | | 2,895 | | | | 166,115 | |
| Monster Beverage Corp.* (Beverages) | | | 255 | | | | 16,983 | |
| Morgan Stanley (Capital Markets) | | | 2,473 | | | | 129,238 | |
| Mylan N.V.* (Pharmaceuticals) | | | 1,039 | | | | 22,255 | |
| Nasdaq, Inc. (Capital Markets) | | | 122 | | | | 14,208 | |
| National Oilwell Varco, Inc. (Energy Equipment & Services) | | | 535 | | | | 11,026 | |
| NetApp, Inc. (Technology Hardware, Storage & Peripherals) | | | 247 | | | | 13,190 | |
| Newell Brands, Inc. (Household Durables) | | | 766 | | | | 14,960 | |
| Newmont Corp. (Metals & Mining) | | | 1,647 | | | | 74,214 | |
| News Corp.—Class A (Media) | | | 781 | | | | 10,637 | |
| News Corp.—Class B (Media) | | | 246 | | | | 3,437 | |
| NextEra Energy, Inc. (Electric Utilities) | | | 462 | | | | 123,908 | |
| Nielsen Holdings PLC (Professional Services) | | | 716 | | | | 14,606 | |
| NIKE, Inc.—Class B (Textiles, Apparel & Luxury Goods) | | | 827 | | | | 79,640 | |
See accompanying notes to the financial statements.
72 :: Large-Cap Value ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| NiSource, Inc. (Multi-Utilities) | | | 751 | | | $ | 22,012 | |
| Noble Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 962 | | | | 19,019 | |
| Nordstrom, Inc. (Multiline Retail) | | | 215 | | | | 7,925 | |
| Norfolk Southern Corp. (Road & Rail) | | | 241 | | | | 50,179 | |
| Northern Trust Corp. (Capital Markets) | | | 427 | | | | 41,765 | |
| NortonLifelock, Inc. (Software) | | | 438 | | | | 12,448 | |
| Norwegian Cruise Line Holdings, Ltd.* (Hotels, Restaurants & Leisure) | | | 429 | | | | 23,102 | |
| Nucor Corp. (Metals & Mining) | | | 610 | | | | 28,969 | |
| Occidental Petroleum Corp. (Oil, Gas & Consumable Fuels) | | | 1,797 | | | | 71,377 | |
| Omnicom Group, Inc. (Media) | | | 438 | | | | 32,986 | |
| ONEOK, Inc. (Oil, Gas & Consumable Fuels) | | | 830 | | | | 62,142 | |
| Oracle Corp. (Software) | | | 1,742 | | | | 91,368 | |
| Packaging Corp. of America (Containers & Packaging) | | | 190 | | | | 18,193 | |
| Parker-Hannifin Corp. (Machinery) | | | 116 | | | | 22,700 | |
| Paychex, Inc. (IT Services) | | | 211 | | | | 18,097 | |
| Pentair PLC (Machinery) | | | 338 | | | | 14,510 | |
| People's United Financial, Inc. (Banks) | | | 894 | | | | 13,785 | |
| PepsiCo, Inc. (Beverages) | | | 1,459 | | | | 207,207 | |
| PerkinElmer, Inc. (Life Sciences Tools & Services) | | | 96 | | | | 8,878 | |
| Perrigo Co. PLC (Pharmaceuticals) | | | 274 | | | | 15,629 | |
| Pfizer, Inc. (Pharmaceuticals) | | | 11,127 | | | | 414,370 | |
| Philip Morris International, Inc. (Tobacco) | | | 1,750 | | | | 144,725 | |
| Phillips 66 (Oil, Gas & Consumable Fuels) | | | 446 | | | | 40,751 | |
| Pinnacle West Capital Corp. (Electric Utilities) | | | 225 | | | | 21,980 | |
| Pioneer Natural Resources Co. (Oil, Gas & Consumable Fuels) | | | 126 | | | | 17,010 | |
| PPG Industries, Inc. (Chemicals) | | | 232 | | | | 27,803 | |
| PPL Corp. (Electric Utilities) | | | 1,454 | | | | 52,620 | |
| Principal Financial Group, Inc. (Insurance) | | | 519 | | | | 27,481 | |
| Prologis, Inc. (Equity Real Estate Investment Trusts) | | | 545 | | | | 50,620 | |
| Prudential Financial, Inc. (Insurance) | | | 807 | | | | 73,485 | |
| Public Service Enterprise Group, Inc. (Multi-Utilities) | | | 1,016 | | | | 60,147 | |
| Public Storage (Equity Real Estate Investment Trusts) | | | 168 | | | | 37,592 | |
| PVH Corp. (Textiles, Apparel & Luxury Goods) | | | 149 | | | | 12,988 | |
| Quanta Services, Inc. (Construction & Engineering) | | | 157 | | | | 6,147 | |
| Quest Diagnostics, Inc. (Health Care Providers & Services) | | | 271 | | | | 29,992 | |
| Ralph Lauren Corp. (Textiles, Apparel & Luxury Goods) | | | 100 | | | | 11,350 | |
| Raymond James Financial, Inc. (Capital Markets) | | | 248 | | | | 22,675 | |
| Raytheon Co. (Aerospace & Defense) | | | 223 | | | | 49,270 | |
| Realty Income Corp. (Equity Real Estate Investment Trusts) | | | 361 | | | | 28,306 | |
| Regency Centers Corp. (Equity Real Estate Investment Trusts) | | | 338 | | | | 20,970 | |
| Regeneron Pharmaceuticals, Inc.* (Biotechnology) | | | 52 | | | | 17,573 | |
| Regions Financial Corp. (Banks) | | | 1,940 | | | | 30,206 | |
| Republic Services, Inc.—Class A (Commercial Services & Supplies) | | | 228 | | | | 21,671 | |
| Robert Half International, Inc. (Professional Services) | | | 236 | | | | 13,728 | |
| Rockwell Automation, Inc. (Electrical Equipment) | | | 100 | | | | 19,166 | |
| Rollins, Inc. (Commercial Services & Supplies) | | | 149 | | | | 5,655 | |
| Royal Caribbean Cruises, Ltd. (Hotels, Restaurants & Leisure) | | | 346 | | | | 40,510 | |
| Schlumberger, Ltd. (Energy Equipment & Services) | | | 2,784 | | | | 93,292 | |
| Seagate Technology PLC (Technology Hardware, Storage & Peripherals) | | | 187 | | | | 10,657 | |
| Sealed Air Corp. (Containers & Packaging) | | | 311 | | | | 11,041 | |
| Sempra Energy (Multi-Utilities) | | | 312 | | | | 50,120 | |
| Simon Property Group, Inc. (Equity Real Estate Investment Trusts) | | | 370 | | | | 49,266 | |
| Skyworks Solutions, Inc. (Semiconductors & Semiconductor Equipment) | | | 145 | | | | 16,407 | |
| SL Green Realty Corp. (Equity Real Estate Investment Trusts) | | | 163 | | | | 15,003 | |
| Snap-on, Inc. (Machinery) | | | 111 | | | | 17,719 | |
| Southwest Airlines Co. (Airlines) | | | 952 | | | | 52,341 | |
| Stanley Black & Decker, Inc. (Machinery) | | | 304 | | | | 48,436 | |
| State Street Corp. (Capital Markets) | | | 731 | | | | 55,286 | |
| STERIS PLC (Health Care Equipment & Supplies) | | | 77 | | | | 11,603 | |
| Stryker Corp. (Health Care Equipment & Supplies) | | | 220 | | | | 46,354 | |
| SVB Financial Group* (Banks) | | | 39 | | | | 9,373 | |
| Sysco Corp. (Food & Staples Retailing) | | | 565 | | | | 46,409 | |
| T. Rowe Price Group, Inc. (Capital Markets) | | | 122 | | | | 16,291 | |
| Tapestry, Inc. (Textiles, Apparel & Luxury Goods) | | | 555 | | | | 14,302 | |
| Target Corp. (Multiline Retail) | | | 367 | | | | 40,642 | |
| TE Connectivity, Ltd. (Electronic Equipment, Instruments & Components) | | | 337 | | | | 31,064 | |
| TechnipFMC PLC (Energy Equipment & Services) | | | 846 | | | | 13,967 | |
| Texas Instruments, Inc. (Semiconductors & Semiconductor Equipment) | | | 714 | | | | 86,144 | |
| Textron, Inc. (Aerospace & Defense) | | | 459 | | | | 21,082 | |
| The AES Corp. (Independent Power and Renewable Electricity Producers) | | | 1,335 | | | | 26,513 | |
| The Allstate Corp. (Insurance) | | | 651 | | | | 77,170 | |
| The Bank of New York Mellon Corp. (Capital Markets) | | | 1,687 | | | | 75,544 | |
| The Boeing Co. (Aerospace & Defense) | | | 601 | | | | 191,280 | |
| The Charles Schwab Corp. (Capital Markets) | | | 621 | | | | 28,287 | |
| The Clorox Co. (Household Products) | | | 254 | | | | 39,957 | |
| The Coca-Cola Co. (Beverages) | | | 4,651 | | | | 271,619 | |
| The Cooper Cos., Inc. (Health Care Equipment & Supplies) | | | 44 | | | | 15,263 | |
| The Gap, Inc. (Specialty Retail) | | | 427 | | | | 7,434 | |
| The Goldman Sachs Group, Inc. (Capital Markets) | | | 641 | | | | 152,397 | |
| The Hershey Co. (Food Products) | | | 98 | | | | 15,207 | |
| The Home Depot, Inc. (Specialty Retail) | | | 636 | | | | 145,071 | |
| The Interpublic Group of Cos., Inc. (Media) | | | 779 | | | | 17,683 | |
| The JM Smucker Co.—Class A (Food Products) | | | 229 | | | | 23,727 | |
| The Kraft Heinz Co. (Food Products) | | | 1,251 | | | | 36,529 | |
| The Kroger Co. (Food & Staples Retailing) | | | 1,613 | | | | 43,325 | |
| The Mosaic Co. (Chemicals) | | | 702 | | | | 13,928 | |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Large-Cap Value ProFund :: 73
Common Stocks, continued
| | | Shares | | | Value | |
| The PNC Financial Services Group, Inc (Banks) | | | 881 | | | $ | 130,873 | |
| The Procter & Gamble Co. (Household Products) | | | 2,107 | | | | 262,575 | |
| The Progressive Corp. (Insurance) | | | 459 | | | | 37,037 | |
| The Southern Co. (Electric Utilities) | | | 2,109 | | | | 148,475 | |
| The Travelers Cos., Inc. (Insurance) | | | 519 | | | | 68,311 | |
| The Walt Disney Co. (Entertainment) | | | 1,414 | | | | 195,570 | |
| The Williams Cos., Inc. (Oil, Gas & Consumable Fuels) | | | 2,436 | | | | 50,401 | |
| T-Mobile U.S., Inc.* (Wireless Telecommunication Services) | | | 636 | | | | 50,365 | |
| Tractor Supply Co. (Specialty Retail) | | | 121 | | | | 11,247 | |
| Truist Financial Corp. (Banks) | | | 2,696 | | | | 139,033 | |
| Twitter, Inc.* (Interactive Media & Services) | | | 1,560 | | | | 50,669 | |
| Tyson Foods, Inc.—Class A (Food Products) | | | 309 | | | | 25,533 | |
| U.S. Bancorp (Banks) | | | 2,856 | | | | 151,996 | |
| UDR, Inc. (Equity Real Estate Investment Trusts) | | | 314 | | | | 15,044 | |
| Ulta Beauty, Inc.* (Specialty Retail) | | | 51 | | | | 13,663 | |
| Under Armour, Inc.*—Class A (Textiles, Apparel & Luxury Goods) | | | 378 | | | | 7,628 | |
| Under Armour, Inc.*—Class C (Textiles, Apparel & Luxury Goods) | | | 392 | | | | 7,040 | |
| Union Pacific Corp. (Road & Rail) | | | 530 | | | | 95,093 | |
| United Airlines Holdings , Inc.* (Airlines) | | | 437 | | | | 32,688 | |
| United Parcel Service, Inc.—Class B (Air Freight & Logistics) | | | 776 | | | | 80,331 | |
| United Technologies Corp. (Aerospace & Defense) | | | 768 | | | | 115,354 | |
| UnitedHealth Group, Inc. (Health Care Providers & Services) | | | 1,904 | | | | 518,744 | |
| Universal Health Services, Inc.—Class B (Health Care Providers & Services) | | | 162 | | | | 22,212 | |
| Unum Group (Insurance) | | | 416 | | | | 11,103 | |
| Valero Energy Corp. (Oil, Gas & Consumable Fuels) | | | 825 | | | | 69,556 | |
| Varian Medical Systems, Inc.* (Health Care Equipment & Supplies) | | | 82 | | | | 11,527 | |
| Ventas, Inc. (Equity Real Estate Investment Trusts) | | | 749 | | | | 43,337 | |
| VeriSign, Inc.* (IT Services) | | | 98 | | | | 20,398 | |
| Verisk Analytics, Inc.—Class A (Professional Services) | | | 102 | | | | 16,572 | |
| Verizon Communications, Inc. (Diversified Telecommunication Services) | | | 8,314 | | | | 494,184 | |
| VF Corp. (Textiles, Apparel & Luxury Goods) | | | 310 | | | | 25,721 | |
| ViacomCBS, Inc.—Class B (Media) | | | 1,087 | | | | 37,099 | |
| Vornado Realty Trust (Equity Real Estate Investment Trusts) | | | 318 | | | | 20,915 | |
| W.R. Berkley Corp. (Insurance) | | | 292 | | | | 21,471 | |
| W.W. Grainger, Inc. (Trading Companies & Distributors) | | | 89 | | | | 26,938 | |
| Walgreens Boots Alliance, Inc. (Food & Staples Retailing) | | | 1,509 | | | | 76,733 | |
| Walmart, Inc. (Food & Staples Retailing) | | | 2,851 | | | | 326,411 | |
| Waste Management, Inc. (Commercial Services & Supplies) | | | 330 | | | | 40,161 | |
| Waters Corp.* (Life Sciences Tools & Services) | | | 49 | | | | 10,966 | |
| WEC Energy Group, Inc. (Multi-Utilities) | | | 634 | | | | 63,330 | |
| Wells Fargo & Co. (Banks) | | | 7,738 | | | | 363,222 | |
| Welltower, Inc. (Equity Real Estate Investment Trusts) | | | 816 | | | | 69,286 | |
| Western Digital Corp. (Technology Hardware, Storage & Peripherals) | | | 598 | | | | 39,169 | |
| Westinghouse Air Brake Technologies Corp. (Machinery) | | | 367 | | | | 27,107 | |
| WestRock Co. (Containers & Packaging) | | | 518 | | | | 20,202 | |
| Weyerhaeuser Co. (Equity Real Estate Investment Trusts) | | | 1,500 | | | | 43,425 | |
| Whirlpool Corp. (Household Durables) | | | 126 | | | | 18,417 | |
| Willis Towers Watson PLC (Insurance) | | | 134 | | | | 28,313 | |
| Xcel Energy, Inc. (Electric Utilities) | | | 1,054 | | | | 72,926 | |
| Xilinx, Inc. (Semiconductors & Semiconductor Equipment) | | | 191 | | | | 16,136 | |
| Xylem, Inc. (Machinery) | | | 149 | | | | 12,167 | |
| Zimmer Biomet Holdings, Inc. (Health Care Equipment & Supplies) | | | 415 | | | | 61,379 | |
| Zions Bancorp (Banks) | | | 343 | | | | 15,603 | |
TOTAL COMMON STOCKS
(Cost $22,148,137) | | | | | | | 24,619,536 | |
Repurchase Agreements(b) (0.2%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $55,007 | | $ | 55,000 | | | $ | 55,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $55,000) | | | | | | | 55,000 | |
Collateral for Securities Loaned (0.1%)
| | | Shares | | | Value | |
| BlackRock Liquidity Funds FedFund Portfolio—Institutional Shares, 1.81%(c) | | | 10,963 | | | $ | 10,963 | |
| Invesco Government & Agency Portfolio—Institutional Shares, 1.77%(c) | | | 3,359 | | | | 3,359 | |
| Fidelity Investments Money Market Government Portfolio—Class I, 1.80%(c) | | | 10,430 | | | | 10,430 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $24,752) | | | | | | | 24,752 | |
TOTAL INVESTMENT SECURITIES
(Cost $22,227,889)—100.1% | | | | | | | 24,699,288 | |
| Net other assets (liabilities)—(0.1)% | | | | | | | (36,615 | ) |
| NET ASSETS—100.0% | | | | | | $ | 24,662,673 | |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2020. The total value of securities on loan as of January 31, 2020 was $23,862. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (c) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2020. |
See accompanying notes to the financial statements.
74 :: Large-Cap Value ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Large-Cap Value ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 480,403 | | | | 1.9 | % |
| Air Freight & Logistics | | | 181,815 | | | | 0.7 | % |
| Airlines | | | 186,489 | | | | 0.8 | % |
| Auto Components | | | 57,762 | | | | 0.2 | % |
| Automobiles | | | 163,807 | | | | 0.7 | % |
| Banks | | | 2,368,638 | | | | 9.5 | % |
| Beverages | | | 580,408 | | | | 2.4 | % |
| Biotechnology | | | 513,868 | | | | 2.1 | % |
| Building Products | | | 72,890 | | | | 0.3 | % |
| Capital Markets | | | 785,029 | | | | 3.2 | % |
| Chemicals | | | 395,907 | | | | 1.6 | % |
| Commercial Services & Supplies | | | 67,487 | | | | 0.3 | % |
| Communications Equipment | | | 422,301 | | | | 1.7 | % |
| Construction & Engineering | | | 31,407 | | | | 0.1 | % |
| Consumer Finance | | | 181,803 | | | | 0.7 | % |
| Containers & Packaging | | | 136,079 | | | | 0.6 | % |
| Distributors | | | 37,058 | | | | 0.2 | % |
| Diversified Consumer Services | | | 9,094 | | | | NM | |
| Diversified Financial Services | | | 882,683 | | | | 3.6 | % |
| Diversified Telecommunication Services | | | 1,073,623 | | | | 4.4 | % |
| Electric Utilities | | | 1,044,578 | | | | 4.2 | % |
| Electrical Equipment | | | 137,998 | | | | 0.6 | % |
| Electronic Equipment, Instruments & Components | | | 64,941 | | | | 0.3 | % |
| Energy Equipment & Services | | | 193,973 | | | | 0.8 | % |
| Entertainment | | | 321,988 | | | | 1.3 | % |
| Equity Real Estate Investment Trusts | | | 820,982 | | | | 3.3 | % |
| Food & Staples Retailing | | | 604,698 | | | | 2.5 | % |
| Food Products | | | 514,623 | | | | 2.1 | % |
| Gas Utilities | | | 28,087 | | | | 0.1 | % |
| Health Care Equipment & Supplies | | | 942,493 | | | | 3.8 | % |
| Health Care Providers & Services | | | 1,441,319 | | | | 5.8 | % |
| Health Care Technology | | | 16,736 | | | | 0.1 | % |
| Hotels, Restaurants & Leisure | | | 327,401 | | | | 1.3 | % |
| Household Durables | | | 90,823 | | | | 0.4 | % |
| Household Products | | | 439,669 | | | | 1.8 | % |
| Independent Power and Renewable Electricity Producers | | | 26,513 | | | | 0.1 | % |
| Industrial Conglomerates | | | 536,612 | | | | 2.2 | % |
| Insurance | | | 994,085 | | | | 4.0 | % |
| Interactive Media & Services | | | 50,669 | | | | 0.2 | % |
| Internet & Direct Marketing Retail | | | 30,366 | | | | 0.1 | % |
| IT Services | | | 819,312 | | | | 3.3 | % |
| Leisure Products | | | 26,282 | | | | 0.1 | % |
| Life Sciences Tools & Services | | | 107,288 | | | | 0.4 | % |
| Machinery | | | 407,546 | | | | 1.7 | % |
| Media | | | 360,346 | | | | 1.5 | % |
| Metals & Mining | | | 117,746 | | | | 0.5 | % |
| Multiline Retail | | | 113,355 | | | | 0.5 | % |
| Multi-Utilities | | | 557,969 | | | | 2.3 | % |
| Oil, Gas & Consumable Fuels | | | 1,580,787 | | | | 6.3 | % |
| Personal Products | | | 3,242 | | | | NM | |
| Pharmaceuticals | | | 1,469,426 | | | | 5.9 | % |
| Professional Services | | | 76,709 | | | | 0.3 | % |
| Road & Rail | | | 212,493 | | | | 0.9 | % |
| Semiconductors & Semiconductor Equipment | | | 377,280 | | | | 1.5 | % |
| Software | | | 118,120 | | | | 0.5 | % |
| Specialty Retail | | | 306,227 | | | | 1.2 | % |
| Technology Hardware, Storage & Peripherals | | | 162,746 | | | | 0.7 | % |
| Textiles, Apparel & Luxury Goods | | | 177,781 | | | | 0.7 | % |
| Tobacco | | | 253,616 | | | | 1.0 | % |
| Trading Companies & Distributors | | | 39,006 | | | | 0.2 | % |
| Water Utilities | | | 24,788 | | | | 0.1 | % |
| Wireless Telecommunication Services | | | 50,365 | | | | 0.2 | % |
| Other** | | | 43,138 | | | | 0.2 | % |
| Total | | $ | 24,662,673 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
| NM | Not meaningful, amount is less than 0.05%. |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Mid-Cap ProFund :: 75
Common Stocks (66.6%)
| | | Shares | | | Value | |
| Aaron's, Inc. (Specialty Retail) | | | 259 | | | $ | 15,374 | |
| Acadia Healthcare Co., Inc.* (Health Care Providers & Services) | | | 340 | | | | 10,924 | |
| ACI Worldwide, Inc.* (Software) | | | 444 | | | | 15,296 | |
| Acuity Brands, Inc. (Electrical Equipment) | | | 152 | | | | 17,916 | |
| Adient PLC* (Auto Components) | | | 332 | | | | 8,536 | |
| Adtalem Global Education, Inc.* (Diversified Consumer Services) | | | 208 | | | | 7,178 | |
| AECOM* (Construction & Engineering) | | | 603 | | | | 29,083 | |
| Affiliated Managers Group, Inc. (Capital Markets) | | | 189 | | | | 15,092 | |
| AGCO Corp. (Machinery) | | | 240 | | | | 16,834 | |
| Alexander & Baldwin, Inc. (Equity Real Estate Investment Trusts) | | | 260 | | | | 5,684 | |
| Alleghany Corp.* (Insurance) | | | 55 | | | | 43,871 | |
| Allegheny Technologies, Inc.* (Metals & Mining) | | | 483 | | | | 8,332 | |
| ALLETE, Inc. (Electric Utilities) | | | 198 | | | | 16,529 | |
| Allscripts Healthcare Solutions, Inc.* (Health Care Technology) | | | 621 | | | | 5,328 | |
| AMC Networks, Inc.*—Class A (Media) | | | 169 | | | | 6,184 | |
| Amedisys, Inc.* (Health Care Providers & Services) | | | 124 | | | | 21,885 | |
| American Campus Communities, Inc. (Equity Real Estate Investment Trusts) | | | 528 | | | | 24,219 | |
| American Eagle Outfitters, Inc. (Specialty Retail) | | | 608 | | | | 8,755 | |
| American Financial Group, Inc. (Insurance) | | | 287 | | | | 31,223 | |
| Antero Midstream Corp.(a) (Oil, Gas & Consumable Fuels) | | | 1,139 | | | | 5,741 | |
| Apergy Corp.* (Energy Equipment & Services) | | | 296 | | | | 7,655 | |
| AptarGroup, Inc. (Containers & Packaging) | | | 245 | | | | 28,300 | |
| Aqua America, Inc. (Water Utilities) | | | 829 | | | | 43,058 | |
| Arrow Electronics, Inc.* (Electronic Equipment, Instruments & Components) | | | 313 | | | | 23,769 | |
| Arrowhead Pharmaceuticals, Inc.* (Biotechnology) | | | 384 | | | | 16,093 | |
| ASGN, Inc.* (Professional Services) | | | 203 | | | | 13,741 | |
| Ashland Global Holdings, Inc. (Chemicals) | | | 231 | | | | 17,089 | |
| Associated Banc-Corp. (Banks) | | | 610 | | | | 12,157 | |
| AutoNation, Inc.* (Specialty Retail) | | | 225 | | | | 9,549 | |
| Avanos Medical, Inc.* (Health Care Equipment & Supplies) | | | 184 | | | | 5,067 | |
| Avis Budget Group, Inc.* (Road & Rail) | | | 218 | | | | 7,150 | |
| Avnet, Inc. (Electronic Equipment, Instruments & Components) | | | 387 | | | | 14,122 | |
| Axon Enterprise, Inc.* (Aerospace & Defense) | | | 228 | | | | 17,513 | |
| BancorpSouth Bank (Banks) | | | 367 | | | | 10,485 | |
| Bank of Hawaii Corp. (Banks) | | | 155 | | | | 13,888 | |
| Bank OZK (Banks) | | | 463 | | | | 12,584 | |
| Bed Bath & Beyond, Inc.(a) (Specialty Retail) | | | 483 | | | | 6,883 | |
| Belden, Inc. (Electronic Equipment, Instruments & Components) | | | 148 | | | | 7,292 | |
| Bio-Rad Laboratories, Inc.*—Class A (Life Sciences Tools & Services) | | | 84 | | | | 30,317 | |
| Bio-Techne Corp. (Life Sciences Tools & Services) | | | 147 | | | | 30,867 | |
| BJ's Wholesale Club Holdings, Inc.* (Food & Staples Retailing) | | | 468 | | | | 9,603 | |
| Black Hills Corp. (Multi-Utilities) | | | 236 | | | | 19,595 | |
| Blackbaud, Inc. (Software) | | | 189 | | | | 14,804 | |
| Boyd Gaming Corp. (Hotels, Restaurants & Leisure) | | | 307 | | | | 9,164 | |
| Brighthouse Financial, Inc.* (Insurance) | | | 419 | | | | 16,299 | |
| Brinker International, Inc. (Hotels, Restaurants & Leisure) | | | 144 | | | | 6,147 | |
| Brixmor Property Group, Inc. (Equity Real Estate Investment Trusts) | | | 1,142 | | | | 22,794 | |
| Brown & Brown, Inc. (Insurance) | | | 899 | | | | 40,365 | |
| Brunswick Corp. (Leisure Products) | | | 313 | | | | 19,672 | |
| Cable One, Inc. (Media) | | | 19 | | | | 32,376 | |
| Cabot Corp. (Chemicals) | | | 218 | | | | 8,687 | |
| Cabot Microelectronics Corp. (Semiconductors & Semiconductor Equipment) | | | 112 | | | | 16,297 | |
| CACI International, Inc.*—Class A (IT Services) | | | 95 | | | | 25,406 | |
| Caesars Entertainment Corp.* (Hotels, Restaurants & Leisure) | | | 2,141 | | | | 29,267 | |
| Camden Property Trust (Equity Real Estate Investment Trusts) | | | 372 | | | | 41,824 | |
| Cantel Medical Corp. (Health Care Equipment & Supplies) | | | 144 | | | | 9,369 | |
| Carlisle Cos., Inc. (Industrial Conglomerates) | | | 218 | | | | 34,058 | |
| Carpenter Technology Corp. (Metals & Mining) | | | 183 | | | | 7,272 | |
| Carter's, Inc. (Textiles, Apparel & Luxury Goods) | | | 169 | | | | 17,926 | |
| Casey's General Stores, Inc. (Food & Staples Retailing) | | | 141 | | | | 22,682 | |
| Catalent, Inc.* (Pharmaceuticals) | | | 562 | | | | 34,338 | |
| Cathay General Bancorp (Banks) | | | 291 | | | | 10,493 | |
| CDK Global, Inc. (Software) | | | 467 | | | | 25,069 | |
| Ceridian HCM Holding, Inc.* (Software) | | | 387 | | | | 28,363 | |
| Charles River Laboratories International, Inc.* (Life Sciences Tools & Services) | | | 187 | | | | 28,906 | |
| Chemed Corp. (Health Care Providers & Services) | | | 62 | | | | 28,956 | |
| Chesapeake Energy Corp.* (Oil, Gas & Consumable Fuels) | | | 4,498 | | | | 2,302 | |
| Choice Hotels International, Inc. (Hotels, Restaurants & Leisure) | | | 122 | | | | 12,224 | |
| Churchill Downs, Inc. (Hotels, Restaurants & Leisure) | | | 137 | | | | 19,780 | |
| Ciena Corp.* (Communications Equipment) | | | 594 | | | | 24,157 | |
| Cinemark Holdings, Inc. (Entertainment) | | | 408 | | | | 12,856 | |
| Cirrus Logic, Inc.* (Semiconductors & Semiconductor Equipment) | | | 221 | | | | 16,975 | |
| CIT Group, Inc. (Banks) | | | 364 | | | | 16,638 | |
| Clean Harbors, Inc.* (Commercial Services & Supplies) | | | 197 | | | | 16,197 | |
| CNO Financial Group, Inc. (Insurance) | | | 578 | | | | 10,167 | |
| CNX Resources Corp.* (Oil, Gas & Consumable Fuels) | | | 715 | | | | 5,169 | |
| Cognex Corp. (Electronic Equipment, Instruments & Components) | | | 657 | | | | 33,487 | |
| Coherent, Inc.* (Electronic Equipment, Instruments & Components) | | | 93 | | | | 13,153 | |
| Colfax Corp.* (Machinery) | | | 321 | | | | 11,286 | |
| Columbia Sportswear Co. (Textiles, Apparel & Luxury Goods) | | | 112 | | | | 10,519 | |
| Commerce Bancshares, Inc. (Banks) | | | 398 | | | | 26,929 | |
See accompanying notes to the financial statements.
76 :: Mid-Cap ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Commercial Metals Co. (Metals & Mining) | | | 454 | | | $ | 9,330 | |
| CommVault Systems, Inc.* (Software) | | | 161 | | | | 7,248 | |
| Compass Minerals International, Inc. (Metals & Mining) | | | 130 | | | | 7,526 | |
| Core Laboratories N.V. (Energy Equipment & Services) | | | 171 | | | | 6,007 | |
| Corecivic, Inc. (Equity Real Estate Investment Trusts) | | | 455 | | | | 7,257 | |
| CoreLogic, Inc.* (IT Services) | | | 305 | | | | 14,183 | |
| CoreSite Realty Corp. (Equity Real Estate Investment Trusts) | | | 145 | | | | 17,030 | |
| Corporate Office Properties Trust (Equity Real Estate Investment Trusts) | | | 430 | | | | 12,801 | |
| Cousins Properties, Inc. (Equity Real Estate Investment Trusts) | | | 563 | | | | 23,044 | |
| Cracker Barrel Old Country Store, Inc. (Hotels, Restaurants & Leisure) | | | 93 | | | | 14,222 | |
| Crane Co. (Machinery) | | | 196 | | | | 16,750 | |
| Cree, Inc.* (Semiconductors & Semiconductor Equipment) | | | 412 | | | | 19,154 | |
| Cullen/Frost Bankers, Inc. (Banks) | | | 219 | | | | 19,526 | |
| Curtiss-Wright Corp. (Aerospace & Defense) | | | 164 | | | | 23,851 | |
| Cypress Semiconductor Corp. (Semiconductors & Semiconductor Equipment) | | | 1,417 | | | | 33,059 | |
| CyrusOne, Inc. (Equity Real Estate Investment Trusts) | | | 435 | | | | 26,470 | |
| Dana, Inc. (Auto Components) | | | 550 | | | | 8,476 | |
| Deckers Outdoor Corp.* (Textiles, Apparel & Luxury Goods) | | | 108 | | | | 20,619 | |
| Delphi Technologies PLC* (Auto Components) | | | 329 | | | | 5,047 | |
| Deluxe Corp. (Commercial Services & Supplies) | | | 161 | | | | 7,760 | |
| Dick's Sporting Goods, Inc. (Specialty Retail) | | | 245 | | | | 10,836 | |
| Dillard's, Inc.—Class A (Multiline Retail) | | | 38 | | | | 2,307 | |
| Diversified Healthcare Trust (Equity Real Estate Investment Trusts) | | | 912 | | | | 7,041 | |
| Domino's Pizza, Inc. (Hotels, Restaurants & Leisure) | | | 158 | | | | 44,518 | |
| Domtar Corp. (Paper & Forest Products) | | | 220 | | | | 7,660 | |
| Donaldson Co., Inc. (Machinery) | | | 485 | | | | 25,147 | |
| Douglas Emmett, Inc. (Equity Real Estate Investment Trusts) | | | 633 | | | | 26,270 | |
| Dunkin' Brands Group, Inc. (Hotels, Restaurants & Leisure) | | | 319 | | | | 24,911 | |
| Dycom Industries, Inc.* (Construction & Engineering) | | | 122 | | | | 4,931 | |
| Eagle Materials, Inc. (Construction Materials) | | | 160 | | | | 14,587 | |
| East West Bancorp, Inc. (Banks) | | | 559 | | | | 25,625 | |
| EastGroup Properties, Inc. (Equity Real Estate Investment Trusts) | | | 148 | | | | 20,138 | |
| Eaton Vance Corp. (Capital Markets) | | | 435 | | | | 19,901 | |
| Edgewell Personal Care Co.* (Personal Products) | | | 207 | | | | 5,345 | |
| Eldorado Resorts, Inc.* (Hotels, Restaurants & Leisure) | | | 250 | | | | 14,945 | |
| EMCOR Group, Inc. (Construction & Engineering) | | | 216 | | | | 17,749 | |
| Encompass Health Corp. (Health Care Providers & Services) | | | 379 | | | | 29,194 | |
| Energizer Holdings, Inc. (Household Products) | | | 247 | | | | 11,426 | |
| EnerSys (Electrical Equipment) | | | 162 | | | | 11,658 | |
| EPR Properties (Equity Real Estate Investment Trusts) | | | 301 | | | | 21,482 | |
| EQT Corp. (Oil, Gas & Consumable Fuels) | | | 979 | | | | 5,923 | |
| Equitrans Midstream Corp. (Oil, Gas & Consumable Fuels) | | | 781 | | | | 7,552 | |
| Etsy, Inc.* (Internet & Direct Marketing Retail) | | | 456 | | | | 22,257 | |
| Evercore Partners, Inc.—Class A (Capital Markets) | | | 151 | | | | 11,570 | |
| Exelixis, Inc.* (Biotechnology) | | | 1,165 | | | | 20,038 | |
| F.N.B. Corp. (Banks) | | | 1,245 | | | | 14,529 | |
| FactSet Research Systems, Inc. (Capital Markets) | | | 147 | | | | 42,058 | |
| Fair Isaac Corp.* (Software) | | | 111 | | | | 44,664 | |
| Federated Hermes, Inc.—Class B (Capital Markets) | | | 369 | | | | 13,369 | |
| First American Financial Corp. (Insurance) | | | 431 | | | | 26,713 | |
| First Financial Bankshares, Inc. (Banks) | | | 521 | | | | 17,464 | |
| First Horizon National Corp. (Banks) | | | 1,193 | | | | 19,088 | |
| First Industrial Realty Trust, Inc. (Equity Real Estate Investment Trusts) | | | 486 | | | | 20,752 | |
| First Solar, Inc.* (Semiconductors & Semiconductor Equipment) | | | 291 | | | | 14,428 | |
| FirstCash, Inc. (Consumer Finance) | | | 164 | | | | 14,263 | |
| Five Below, Inc.* (Specialty Retail) | | | 214 | | | | 24,229 | |
| Flowers Foods, Inc. (Food Products) | | | 738 | | | | 15,889 | |
| Fluor Corp. (Construction & Engineering) | | | 538 | | | | 9,625 | |
| Foot Locker, Inc. (Specialty Retail) | | | 411 | | | | 15,606 | |
| FTI Consulting, Inc.* (Professional Services) | | | 145 | | | | 17,409 | |
| Fulton Financial Corp. (Banks) | | | 629 | | | | 10,360 | |
| GATX Corp. (Trading Companies & Distributors) | | | 136 | | | | 10,354 | |
| Gentex Corp. (Auto Components) | | | 970 | | | | 28,876 | |
| Genworth Financial, Inc.*—Class A (Insurance) | | | 1,930 | | | | 7,913 | |
| Globus Medical, Inc.*—Class A (Health Care Equipment & Supplies) | | | 295 | | | | 15,423 | |
| Graco, Inc. (Machinery) | | | 640 | | | | 34,016 | |
| Graham Holdings Co.—Class B (Diversified Consumer Services) | | | 17 | | | | 9,337 | |
| Grand Canyon Education, Inc.* (Diversified Consumer Services) | | | 185 | | | | 14,482 | |
| Green Dot Corp.*—Class A (Consumer Finance) | | | 181 | | | | 5,444 | |
| Greif, Inc.—Class A (Containers & Packaging) | | | 101 | | | | 4,082 | |
| GrubHub, Inc.* (Internet & Direct Marketing Retail) | | | 351 | | | | 19,007 | |
| Haemonetics Corp.* (Health Care Equipment & Supplies) | | | 194 | | | | 20,834 | |
| Hancock Whitney Corp. (Banks) | | | 335 | | | | 13,313 | |
| Hawaiian Electric Industries, Inc. (Electric Utilities) | | | 418 | | | | 20,444 | |
| Healthcare Realty Trust, Inc. (Equity Real Estate Investment Trusts) | | | 514 | | | | 18,535 | |
| Healthcare Services Group, Inc. (Commercial Services & Supplies) | | | 283 | | | | 7,245 | |
| HealthEquity, Inc.* (Health Care Providers & Services) | | | 272 | | | | 17,968 | |
| Helen of Troy, Ltd.* (Household Durables) | | | 97 | | | | 18,337 | |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Mid-Cap ProFund :: 77
Common Stocks, continued
| | | Shares | | | Value | |
| Herman Miller, Inc. (Commercial Services & Supplies) | | | 227 | | | $ | 8,774 | |
| Highwoods Properties, Inc. (Equity Real Estate Investment Trusts) | | | 398 | | | | 19,944 | |
| Hill-Rom Holdings, Inc. (Health Care Equipment & Supplies) | | | 256 | | | | 27,261 | |
| HNI Corp. (Commercial Services & Supplies) | | | 164 | | | | 5,899 | |
| Home BancShares, Inc. (Banks) | | | 595 | | | | 11,376 | |
| Hubbell, Inc. (Electrical Equipment) | | | 210 | | | | 30,078 | |
| ICU Medical, Inc.* (Health Care Equipment & Supplies) | | | 74 | | | | 13,503 | |
| IDACORP, Inc. (Electric Utilities) | | | 194 | | | | 21,765 | |
| II-VI, Inc.* (Electronic Equipment, Instruments & Components) | | | 335 | | | | 11,273 | |
| Ingevity Corp.* (Chemicals) | | | 160 | | | | 10,435 | |
| Ingredion, Inc. (Food Products) | | | 256 | | | | 22,528 | |
| Insperity, Inc. (Professional Services) | | | 145 | | | | 12,669 | |
| Integra LifeSciences Holdings Corp.* (Health Care Equipment & Supplies) | | | 274 | | | | 15,081 | |
| Interactive Brokers Group, Inc.—Class A (Capital Markets) | | | 294 | | | | 13,818 | |
| InterDigital, Inc. (Communications Equipment) | | | 119 | | | | 6,575 | |
| International Bancshares Corp. (Banks) | | | 220 | | | | 8,668 | |
| ITT, Inc. (Machinery) | | | 337 | | | | 22,606 | |
| j2 Global, Inc. (Software) | | | 178 | | | | 17,063 | |
| Jabil, Inc. (Electronic Equipment, Instruments & Components) | | | 534 | | | | 20,767 | |
| Jack in the Box, Inc. (Hotels, Restaurants & Leisure) | | | 91 | | | | 7,439 | |
| Janus Henderson Group PLC (Capital Markets) | | | 597 | | | | 15,086 | |
| JBG Smith Properties (Equity Real Estate Investment Trusts) | | | 453 | | | | 18,369 | |
| Jefferies Financial Group, Inc. (Diversified Financial Services) | | | 965 | | | | 20,883 | |
| JetBlue Airways Corp.* (Airlines) | | | 1,108 | | | | 21,972 | |
| John Wiley & Sons, Inc.—Class A (Media) | | | 168 | | | | 7,328 | |
| Jones Lang LaSalle, Inc. (Real Estate Management & Development) | | | 198 | | | | 33,624 | |
| KAR Auction Services, Inc. (Commercial Services & Supplies) | | | 494 | | | | 10,384 | |
| KB Home (Household Durables) | | | 330 | | | | 12,392 | |
| KBR, Inc. (IT Services) | | | 544 | | | | 14,797 | |
| Kemper Corp. (Insurance) | | | 240 | | | | 17,861 | |
| Kennametal, Inc. (Machinery) | | | 319 | | | | 9,982 | |
| Kilroy Realty Corp. (Equity Real Estate Investment Trusts) | | | 375 | | | | 30,964 | |
| Kirby Corp.* (Marine) | | | 229 | | | | 16,783 | |
| Knight-Swift Transportation Holdings, Inc. (Road & Rail) | | | 471 | | | | 17,465 | |
| Lamar Advertising Co.—Class A (Equity Real Estate Investment Trusts) | | | 331 | | | | 30,720 | |
| Lancaster Colony Corp. (Food Products) | | | 77 | | | | 11,908 | |
| Landstar System, Inc. (Road & Rail) | | | 152 | | | | 16,834 | |
| Lear Corp. (Auto Components) | | | 212 | | | | 26,114 | |
| Legg Mason, Inc. (Capital Markets) | | | 313 | | | | 12,254 | |
| LendingTree, Inc.* (Thrifts & Mortgage Finance) | | | 31 | | | | 9,647 | |
| Lennox International, Inc. (Building Products) | | | 134 | | | | 31,219 | |
| Liberty Property Trust (Equity Real Estate Investment Trusts) | | | 605 | | | | 37,903 | |
| Life Storage, Inc. (Equity Real Estate Investment Trusts) | | | 179 | | | | 20,259 | |
| Ligand Pharmaceuticals, Inc.*—Class B (Biotechnology) | | | 67 | | | | 5,883 | |
| Lincoln Electric Holdings, Inc. (Machinery) | | | 235 | | | | 20,957 | |
| Littelfuse, Inc. (Electronic Equipment, Instruments & Components) | | | 93 | | | | 16,453 | |
| LivaNova PLC* (Health Care Equipment & Supplies) | | | 186 | | | | 12,642 | |
| LiveRamp Holdings, Inc.* (IT Services) | | | 260 | | | | 10,462 | |
| LogMeIn, Inc. (Software) | | | 187 | | | | 16,076 | |
| Louisiana-Pacific Corp. (Paper & Forest Products) | | | 451 | | | | 13,837 | |
| Lumentum Holdings, Inc.* (Communications Equipment) | | | 296 | | | | 22,428 | |
| Mack-Cali Realty Corp. (Equity Real Estate Investment Trusts) | | | 346 | | | | 7,598 | |
| Manhattan Associates, Inc.* (Software) | | | 245 | | | | 20,938 | |
| ManpowerGroup, Inc. (Professional Services) | | | 227 | | | | 20,768 | |
| Marriott Vacations Worldwide Corp. (Hotels, Restaurants & Leisure) | | | 144 | | | | 17,315 | |
| Masimo Corp.* (Health Care Equipment & Supplies) | | | 189 | | | | 32,243 | |
| MasTec, Inc.* (Construction & Engineering) | | | 231 | | | | 13,340 | |
| Matador Resources Co.* (Oil, Gas & Consumable Fuels) | | | 419 | | | | 6,147 | |
| Mattel, Inc.* (Leisure Products) | | | 1,330 | | | | 19,458 | |
| MAXIMUS, Inc. (IT Services) | | | 246 | | | | 17,651 | |
| MDU Resources Group, Inc. (Multi-Utilities) | | | 770 | | | | 22,800 | |
| Medical Properties Trust, Inc. (Equity Real Estate Investment Trusts) | | | 1,986 | | | | 43,990 | |
| MEDNAX, Inc.* (Health Care Providers & Services) | | | 323 | | | | 7,452 | |
| Mercury General Corp. (Insurance) | | | 104 | | | | 5,105 | |
| Mercury Systems, Inc.* (Aerospace & Defense) | | | 214 | | | | 16,425 | |
| Meredith Corp. (Media) | | | 154 | | | | 4,628 | |
| Minerals Technologies, Inc. (Chemicals) | | | 134 | | | | 7,253 | |
| MKS Instruments, Inc. (Semiconductors & Semiconductor Equipment) | | | 210 | | | | 22,012 | |
| Molina Healthcare, Inc.* (Health Care Providers & Services) | | | 240 | | | | 29,514 | |
| Monolithic Power Systems, Inc. (Semiconductors & Semiconductor Equipment) | | | 155 | | | | 26,531 | |
| MSA Safety, Inc. (Commercial Services & Supplies) | | | 137 | | | | 18,577 | |
| MSC Industrial Direct Co., Inc.—Class A (Trading Companies & Distributors) | | | 172 | | | | 11,708 | |
| Murphy Oil Corp. (Oil, Gas & Consumable Fuels) | | | 572 | | | | 11,989 | |
| Murphy USA, Inc.* (Specialty Retail) | | | 111 | | | | 11,341 | |
| National Fuel Gas Co. (Gas Utilities) | | | 331 | | | | 14,296 | |
| National Instruments Corp. (Electronic Equipment, Instruments & Components) | | | 453 | | | | 20,217 | |
| National Retail Properties, Inc. (Equity Real Estate Investment Trusts) | | | 660 | | | | 36,960 | |
| Navient Corp. (Consumer Finance) | | | 744 | | | | 10,699 | |
| NCR Corp.* (Technology Hardware, Storage & Peripherals) | | | 489 | | | | 16,489 | |
| Nektar Therapeutics* (Pharmaceuticals) | | | 675 | | | | 13,426 | |
| NetScout Systems, Inc.* (Communications Equipment) | | | 253 | | | | 6,505 | |
See accompanying notes to the financial statements.
78 :: Mid-Cap ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| New Jersey Resources Corp. (Gas Utilities) | | | 366 | | | $ | 15,123 | |
| New York Community Bancorp, Inc. (Thrifts & Mortgage Finance) | | | 1,792 | | | | 19,820 | |
| NewMarket Corp. (Chemicals) | | | 29 | | | | 12,749 | |
| Nordson Corp. (Machinery) | | | 197 | | | | 33,265 | |
| NorthWestern Corp. (Multi-Utilities) | | | 194 | | | | 14,932 | |
| NOW, Inc.* (Trading Companies & Distributors) | | | 415 | | | | 4,154 | |
| Nu Skin Enterprises, Inc.—Class A (Personal Products) | | | 213 | | | | 6,941 | |
| NuVasive, Inc.* (Health Care Equipment & Supplies) | | | 200 | | | | 15,424 | |
| nVent Electric PLC (Electrical Equipment) | | | 597 | | | | 14,865 | |
| OGE Energy Corp. (Electric Utilities) | | | 769 | | | | 35,259 | |
| O-I Glass, Inc. (Containers & Packaging) | | | 596 | | | | 7,522 | |
| Old Republic International Corp. (Insurance) | | | 1,094 | | | | 24,670 | |
| Olin Corp. (Chemicals) | | | 610 | | | | 9,071 | |
| Ollie's Bargain Outlet Holdings, Inc.* (Multiline Retail) | | | 211 | | | | 11,192 | |
| Omega Healthcare Investors, Inc. (Equity Real Estate Investment Trusts) | | | 840 | | | | 35,238 | |
| ONE Gas, Inc. (Gas Utilities) | | | 203 | | | | 19,184 | |
| Oshkosh Corp. (Machinery) | | | 261 | | | | 22,456 | |
| Owens Corning (Building Products) | | | 417 | | | | 25,224 | |
| PacWest Bancorp (Banks) | | | 460 | | | | 16,123 | |
| Papa John's International, Inc. (Hotels, Restaurants & Leisure) | | | 85 | | | | 5,506 | |
| Park Hotels & Resorts, Inc. (Equity Real Estate Investment Trusts) | | | 918 | | | | 20,141 | |
| Patterson Cos., Inc. (Health Care Providers & Services) | | | 330 | | | | 7,263 | |
| Patterson-UTI Energy, Inc. (Energy Equipment & Services) | | | 744 | | | | 5,907 | |
| PBF Energy, Inc.—Class A (Oil, Gas & Consumable Fuels) | | | 390 | | | | 10,647 | |
| Pebblebrook Hotel Trust (Equity Real Estate Investment Trusts) | | | 501 | | | | 11,884 | |
| Penn National Gaming, Inc.* (Hotels, Restaurants & Leisure) | | | 418 | | | | 12,469 | |
| Penumbra, Inc.* (Health Care Equipment & Supplies) | | | 123 | | | | 21,582 | |
| Perspecta, Inc. (IT Services) | | | 527 | | | | 14,793 | |
| Pilgrim's Pride Corp.* (Food Products) | | | 200 | | | | 5,210 | |
| Pinnacle Financial Partners, Inc. (Banks) | | | 277 | | | | 16,360 | |
| PNM Resources, Inc. (Electric Utilities) | | | 306 | | | | 16,594 | |
| Polaris, Inc. (Leisure Products) | | | 221 | | | | 20,297 | |
| PolyOne Corp. (Chemicals) | | | 346 | | | | 11,480 | |
| Pool Corp. (Distributors) | | | 154 | | | | 33,772 | |
| Post Holdings, Inc.* (Food Products) | | | 256 | | | | 26,770 | |
| PotlatchDeltic Corp. (Equity Real Estate Investment Trusts) | | | 259 | | | | 11,137 | |
| PRA Health Sciences, Inc.* (Life Sciences Tools & Services) | | | 243 | | | | 24,618 | |
| Prestige Consumer Healthcare, Inc.* (Pharmaceuticals) | | | 193 | | | | 7,828 | |
| Primerica, Inc. (Insurance) | | | 158 | | | | 18,732 | |
| Prosperity Bancshares, Inc. (Banks) | | | 362 | | | | 25,412 | |
| PS Business Parks, Inc. (Equity Real Estate Investment Trusts) | | | 77 | | | | 12,902 | |
| PTC, Inc.* (Software) | | | 400 | | | | 33,248 | |
| Rayonier, Inc. (Equity Real Estate Investment Trusts) | | | 496 | | | | 15,068 | |
| Regal Beloit Corp. (Electrical Equipment) | | | 158 | | | | 12,397 | |
| Reinsurance Group of America, Inc. (Insurance) | | | 240 | | | | 34,572 | |
| Reliance Steel & Aluminum Co. (Metals & Mining) | | | 256 | | | | 29,388 | |
| RenaissanceRe Holdings, Ltd. (Insurance) | | | 169 | | | | 32,015 | |
| Repligen Corp.* (Biotechnology) | | | 180 | | | | 18,070 | |
| Resideo Technologies, Inc.* (Building Products) | | | 470 | | | | 4,785 | |
| RH* (Specialty Retail) | | | 63 | | | | 13,151 | |
| RLI Corp. (Insurance) | | | 154 | | | | 14,324 | |
| Royal Gold, Inc. (Metals & Mining) | | | 252 | | | | 29,060 | |
| RPM International, Inc. (Chemicals) | | | 498 | | | | 35,543 | |
| Ryder System, Inc. (Road & Rail) | | | 205 | | | | 9,783 | |
| Sabra Health Care REIT, Inc. (Equity Real Estate Investment Trusts) | | | 743 | | | | 15,975 | |
| Sabre Corp. (IT Services) | | | 1,051 | | | | 22,639 | |
| Sally Beauty Holdings, Inc.* (Specialty Retail) | | | 445 | | | | 6,831 | |
| Sanderson Farms, Inc. (Food Products) | | | 75 | | | | 10,327 | |
| Science Applications International Corp. (IT Services) | | | 189 | | | | 16,589 | |
| Scientific Games Corp.*—Class A (Hotels, Restaurants & Leisure) | | | 207 | | | | 5,142 | |
| SEI Investments Co. (Capital Markets) | | | 484 | | | | 31,586 | |
| Selective Insurance Group, Inc. (Insurance) | | | 228 | | | | 15,105 | |
| Semtech Corp.* (Semiconductors & Semiconductor Equipment) | | | 254 | | | | 12,240 | |
| Sensient Technologies Corp. (Chemicals) | | | 162 | | | | 9,680 | |
| Service Corp. International (Diversified Consumer Services) | | | 702 | | | | 33,661 | |
| Service Properties Trust (Equity Real Estate Investment Trusts) | | | 631 | | | | 13,617 | |
| Signature Bank (Banks) | | | 208 | | | | 29,514 | |
| Silgan Holdings, Inc. (Containers & Packaging) | | | 298 | | | | 9,196 | |
| Silicon Laboratories, Inc.* (Semiconductors & Semiconductor Equipment) | | | 166 | | | | 16,319 | |
| Six Flags Entertainment Corp. (Hotels, Restaurants & Leisure) | | | 302 | | | | 11,515 | |
| Skechers U.S.A., Inc.*—Class A (Textiles, Apparel & Luxury Goods) | | | 514 | | | | 19,218 | |
| SLM Corp. (Consumer Finance) | | | 1,619 | | | | 17,680 | |
| SolarEdge Technologies, Inc.* (Semiconductors & Semiconductor Equipment) | | | 186 | | | | 18,202 | |
| Sonoco Products Co. (Containers & Packaging) | | | 384 | | | | 21,942 | |
| Southwest Gas Holdings, Inc. (Gas Utilities) | | | 210 | | | | 15,857 | |
| Spire, Inc. (Gas Utilities) | | | 196 | | | | 16,527 | |
| Spirit Realty Capital, Inc. (Equity Real Estate Investment Trusts) | | | 383 | | | | 20,215 | |
| Sprouts Farmers Market, Inc.* (Food & Staples Retailing) | | | 452 | | | | 7,065 | |
| Steel Dynamics, Inc. (Metals & Mining) | | | 827 | | | | 24,711 | |
| Stericycle, Inc.* (Commercial Services & Supplies) | | | 350 | | | | 21,938 | |
| Sterling Bancorp (Banks) | | | 774 | | | | 15,480 | |
| Stifel Financial Corp. (Capital Markets) | | | 263 | | | | 17,013 | |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Mid-Cap ProFund :: 79
Common Stocks, continued
| | | Shares | | | Value | |
| Synaptics, Inc.* (Semiconductors & Semiconductor Equipment) | | | 129 | | | $ | 8,603 | |
| Syneos Health, Inc.* (Life Sciences Tools & Services) | | | 239 | | | | 14,665 | |
| SYNNEX Corp. (Electronic Equipment, Instruments & Components) | | | 158 | | | | 21,766 | |
| Synovus Financial Corp. (Banks) | | | 562 | | | | 19,681 | |
| Taubman Centers, Inc. (Equity Real Estate Investment Trusts) | | | 235 | | | | 6,209 | |
| TCF Financial Corp. (Banks) | | | 590 | | | | 24,945 | |
| Tech Data Corp.* (Electronic Equipment, Instruments & Components) | | | 136 | | | | 19,576 | |
| TEGNA, Inc. (Media) | | | 831 | | | | 14,044 | |
| Teledyne Technologies, Inc.* (Aerospace & Defense) | | | 140 | | | | 51,107 | |
| Telephone & Data Systems, Inc. (Wireless Telecommunication Services) | | | 376 | | | | 8,528 | |
| Tempur Sealy International, Inc.* (Household Durables) | | | 175 | | | | 16,034 | |
| Tenet Healthcare Corp.* (Health Care Providers & Services) | | | 400 | | | | 12,656 | |
| Teradata Corp.* (IT Services) | | | 432 | | | | 10,515 | |
| Teradyne, Inc. (Semiconductors & Semiconductor Equipment) | | | 644 | | | | 42,497 | |
| Terex Corp. (Machinery) | | | 251 | | | | 6,363 | |
| Tetra Tech, Inc. (Commercial Services & Supplies) | | | 210 | | | | 17,976 | |
| Texas Capital Bancshares, Inc.* (Banks) | | | 193 | | | | 10,607 | |
| Texas Roadhouse, Inc.—Class A (Hotels, Restaurants & Leisure) | | | 250 | | | | 15,625 | |
| The Boston Beer Co, Inc.*—Class A (Beverages) | | | 35 | | | | 12,473 | |
| The Brink's Co. (Commercial Services & Supplies) | | | 191 | | | | 16,080 | |
| The Cheesecake Factory, Inc. (Hotels, Restaurants & Leisure) | | | 157 | | | | 6,029 | |
| The Chemours Co. (Chemicals) | | | 626 | | | | 8,683 | |
| The GEO Group, Inc. (Equity Real Estate Investment Trusts) | | | 465 | | | | 7,347 | |
| The Goodyear Tire & Rubber Co. (Auto Components) | | | 891 | | | | 11,699 | |
| The Hain Celestial Group, Inc.* (Food Products) | | | 309 | | | | 7,481 | |
| The Hanover Insurance Group, Inc. (Insurance) | | | 152 | | | | 21,064 | |
| The Macerich Co. (Equity Real Estate Investment Trusts) | | | 422 | | | | 9,415 | |
| The New York Times Co.—Class A (Media) | | | 552 | | | | 17,670 | |
| The Scotts Miracle-Gro Co.—Class A (Chemicals) | | | 152 | | | | 18,656 | |
| The Timken Co. (Machinery) | | | 260 | | | | 13,658 | |
| The Toro Co. (Machinery) | | | 409 | | | | 32,728 | |
| The Wendy's Co. (Hotels, Restaurants & Leisure) | | | 706 | | | | 15,299 | |
| Thor Industries, Inc. (Automobiles) | | | 212 | | | | 17,070 | |
| Toll Brothers, Inc. (Household Durables) | | | 496 | | | | 22,002 | |
| Tootsie Roll Industries, Inc.(a) (Food Products) | | | 64 | | | | 2,183 | |
| Transocean, Ltd.* (Energy Equipment & Services) | | | 2,207 | | | | 10,064 | |
| TreeHouse Foods, Inc.* (Food Products) | | | 216 | | | | 9,634 | |
| Trex Co., Inc.* (Building Products) | | | 224 | | | | 22,006 | |
| TRI Pointe Group, Inc.* (Household Durables) | | | 533 | | | | 8,667 | |
| Trimble, Inc.* (Electronic Equipment,Instruments & Components) | | | 957 | | | | 40,692 | |
| Trinity Industries, Inc. (Machinery) | | | 376 | | | | 7,644 | |
| TripAdvisor, Inc. (Interactive Media & Services) | | | 403 | | | | 11,010 | |
| Trustmark Corp. (Banks) | | | 246 | | | | 7,867 | |
| Tyler Technologies, Inc.* (Software) | | | 149 | | | | 48,229 | |
| UGI Corp. (Gas Utilities) | | | 802 | | | | 33,355 | |
| UMB Financial Corp. (Banks) | | | 165 | | | | 10,966 | |
| Umpqua Holdings Corp. (Banks) | | | 844 | | | | 14,264 | |
| United Bankshares, Inc. (Banks) | | | 390 | | | | 13,377 | |
| United States Steel Corp.(a) (Metals & Mining) | | | 651 | | | | 5,905 | |
| United Therapeutics Corp.* (Biotechnology) | | | 168 | | | | 16,409 | |
| Universal Display Corp. (Semiconductors & Semiconductor Equipment) | | | 162 | | | | 28,540 | |
| Urban Edge Properties (Equity Real Estate Investment Trusts) | | | 440 | | | | 8,092 | |
| Urban Outfitters, Inc.* (Specialty Retail) | | | 270 | | | | 6,912 | |
| Valley National Bancorp (Banks) | | | 1,502 | | | | 15,816 | |
| Valmont Industries, Inc. (Construction & Engineering) | | | 82 | | | | 11,649 | |
| Valvoline, Inc. (Chemicals) | | | 722 | | | | 15,220 | |
| ViaSat, Inc.* (Communications Equipment) | | | 221 | | | | 14,067 | |
| Vishay Intertechnology, Inc. (Electronic Equipment, Instruments & Components) | | | 507 | | | | 10,287 | |
| Visteon Corp.* (Auto Components) | | | 108 | | | | 8,619 | |
| Washington Federal, Inc. (Thrifts & Mortgage Finance) | | | 300 | | | | 10,200 | |
| Watsco, Inc. (Trading Companies & Distributors) | | | 126 | | | | 21,914 | |
| Webster Financial Corp. (Banks) | | | 352 | | | | 15,791 | |
| Weingarten Realty Investors (Equity Real Estate Investment Trusts) | | | 464 | | | | 13,502 | |
| Werner Enterprises, Inc. (Road & Rail) | | | 169 | | | | 6,229 | |
| West Pharmaceutical Services, Inc. (Health Care Equipment & Supplies) | | | 284 | | | | 44,290 | |
| WEX, Inc.* (IT Services) | | | 166 | | | | 36,008 | |
| Williams-Sonoma, Inc. (Specialty Retail) | | | 298 | | | | 20,884 | |
| Wintrust Financial Corp. (Banks) | | | 219 | | | | 13,858 | |
| Woodward, Inc. (Machinery) | | | 216 | | | | 25,123 | |
| World Fuel Services Corp. (Oil, Gas & Consumable Fuels) | | | 252 | | | | 9,858 | |
| World Wrestling Entertainment, Inc.—Class A (Entertainment) | | | 182 | | | | 8,896 | |
| Worthington Industries, Inc. (Metals & Mining) | | | 142 | | | | 5,223 | |
| WPX Energy, Inc.* (Oil, Gas & Consumable Fuels) | | | 1,598 | | | | 19,097 | |
| WW International, Inc.* (Diversified Consumer Services) | | | 178 | | | | 5,870 | |
| Wyndham Destinations, Inc. (Hotels, Restaurants & Leisure) | | | 348 | | | | 16,888 | |
| Wyndham Hotels & Resorts, Inc. (Hotels, Restaurants & Leisure) | | | 365 | | | | 20,867 | |
| XPO Logistics, Inc.* (Air Freight & Logistics) | | | 354 | | | | 31,478 | |
| Yelp, Inc.* (Interactive Media & Services) | | | 244 | | | | 7,954 | |
TOTAL COMMON STOCKS
(Cost $5,020,389) | | | | | | | 6,831,803 | |
See accompanying notes to the financial statements.
80 :: Mid-Cap ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Repurchase Agreements(b)(c) (31.2%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $3,204,389 | | $ | 3,204,000 | | | $ | 3,204,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $3,204,000) | | | | | | | 3,204,000 | |
Collateral for Securities Loaned (0.2%)
| | | Shares | | | Value | |
| BlackRock Liquidity Funds FedFund Portfolio—Institutional Shares, 1.81%(d) | | | 7,827 | | | $ | 7,827 | |
| Invesco Government & Agency Portfolio—Institutional Shares, 1.77%(d) | | | 2,399 | | | | 2,399 | |
| Fidelity Investments Money Market Government Portfolio—Class I, 1.80%(d) | | | 7,448 | | | | 7,448 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $17,674) | | | | | | | 17,674 | |
TOTAL INVESTMENT SECURITIES
(Cost $8,242,063)—98.0% | | | | | | | 10,053,477 | |
| Net other assets (liabilities)—2.0% | | | | | | | 201,826 | |
| NET ASSETS—100.0% | | | | | | $ | 10,255,303 | |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2020. The total value of securities on loan as of January 31, 2020 was $16,420. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See “Repurchase Agreements” under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (c) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $267,000. |
| (d) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2020. |
Futures Contracts Purchased
| | | Number
of
Contracts | | Expiration
Date | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini S&P MidCap 400 Futures Contracts | | 6 | | 3/23/20 | | $ | 1,203,600 | | | $ | (20,920 | ) |
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| S&P MidCap 400 | | Goldman Sachs International | | | 2/27/20 | | | | 2.04 | % | | $ | 1,075,458 | | | $ | (16,347 | ) |
| S&P MidCap 400 | | UBS AG | | | 2/27/20 | | | | 1.94 | % | | | 1,143,463 | | | | (12,614 | ) |
| | | | | | | | | | | | | $ | 2,218,921 | | | $ | (28,961 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Mid-Cap ProFund :: 81
Mid-Cap ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 108,896 | | | | 1.1 | % |
| Air Freight & Logistics | | | 31,478 | | | | 0.3 | % |
| Airlines | | | 21,972 | | | | 0.2 | % |
| Auto Components | | | 97,367 | | | | 0.9 | % |
| Automobiles | | | 17,070 | | | | 0.2 | % |
| Banks | | | 493,185 | | | | 4.8 | % |
| Beverages | | | 12,473 | | | | 0.1 | % |
| Biotechnology | | | 76,493 | | | | 0.7 | % |
| Building Products | | | 83,234 | | | | 0.8 | % |
| Capital Markets | | | 191,747 | | | | 1.9 | % |
| Chemicals | | | 164,546 | | | | 1.6 | % |
| Commercial Services & Supplies | | | 130,830 | | | | 1.3 | % |
| Communications Equipment | | | 73,732 | | | | 0.7 | % |
| Construction & Engineering | | | 86,377 | | | | 0.8 | % |
| Construction Materials | | | 14,587 | | | | 0.1 | % |
| Consumer Finance | | | 48,086 | | | | 0.5 | % |
| Containers & Packaging | | | 71,042 | | | | 0.7 | % |
| Distributors | | | 33,772 | | | | 0.3 | % |
| Diversified Consumer Services | | | 70,528 | | | | 0.7 | % |
| Diversified Financial Services | | | 20,883 | | | | 0.2 | % |
| Electric Utilities | | | 110,591 | | | | 1.1 | % |
| Electrical Equipment | | | 86,914 | | | | 0.8 | % |
| Electronic Equipment, Instruments & Components | | | 252,854 | | | | 2.5 | % |
| Energy Equipment & Services | | | 29,633 | | | | 0.3 | % |
| Entertainment | | | 21,752 | | | | 0.2 | % |
| Equity Real Estate Investment Trusts | | | 742,787 | | | | 7.2 | % |
| Food & Staples Retailing | | | 39,349 | | | | 0.4 | % |
| Food Products | | | 111,929 | | | | 1.1 | % |
| Gas Utilities | | | 114,342 | | | | 1.1 | % |
| Health Care Equipment & Supplies | | | 232,719 | | | | 2.3 | % |
| Health Care Providers & Services | | | 165,812 | | | | 1.6 | % |
| Health Care Technology | | | 5,328 | | | | 0.1 | % |
| Hotels, Restaurants & Leisure | | | 309,272 | | | | 3.0 | % |
| Household Durables | | | 77,432 | | | | 0.8 | % |
| Household Products | | | 11,426 | | | | 0.1 | % |
| Industrial Conglomerates | | | 34,058 | | | | 0.3 | % |
| Insurance | | | 360,000 | | | | 3.5 | % |
| Interactive Media & Services | | | 18,964 | | | | 0.2 | % |
| Internet & Direct Marketing Retail | | | 41,264 | | | | 0.4 | % |
| IT Services | | | 183,043 | | | | 1.8 | % |
| Leisure Products | | | 59,427 | | | | 0.6 | % |
| Life Sciences Tools & Services | | | 129,373 | | | | 1.3 | % |
| Machinery | | | 298,816 | | | | 2.9 | % |
| Marine | | | 16,783 | | | | 0.2 | % |
| Media | | | 82,230 | | | | 0.8 | % |
| Metals & Mining | | | 126,747 | | | | 1.2 | % |
| Multiline Retail | | | 13,499 | | | | 0.1 | % |
| Multi-Utilities | | | 57,327 | | | | 0.6 | % |
| Oil, Gas & Consumable Fuels | | | 84,425 | | | | 0.8 | % |
| Paper & Forest Products | | | 21,497 | | | | 0.2 | % |
| Personal Products | | | 12,286 | | | | 0.1 | % |
| Pharmaceuticals | | | 55,592 | | | | 0.5 | % |
| Professional Services | | | 64,587 | | | | 0.6 | % |
| Real Estate Management & Development | | | 33,624 | | | | 0.3 | % |
| Road & Rail | | | 57,461 | | | | 0.6 | % |
| Semiconductors & Semiconductor Equipment | | | 274,858 | | | | 2.7 | % |
| Software | | | 270,998 | | | | 2.6 | % |
| Specialty Retail | | | 150,351 | | | | 1.5 | % |
| Technology Hardware, Storage & Peripherals | | | 16,489 | | | | 0.2 | % |
| Textiles, Apparel & Luxury Goods | | | 68,282 | | | | 0.7 | % |
| Thrifts & Mortgage Finance | | | 39,667 | | | | 0.4 | % |
| Trading Companies & Distributors | | | 48,130 | | | | 0.5 | % |
| Water Utilities | | | 43,058 | | | | 0.4 | % |
| Wireless Telecommunication Services | | | 8,528 | | | | 0.1 | % |
| Other** | | | 3,423,501 | | | | 33.4 | % |
| Total | | $ | 10,255,303 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
See accompanying notes to the financial statements.
82 :: Mid-Cap Growth ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks (100.3%)
| | | Shares | | | Value | |
| Aaron's, Inc. (Specialty Retail) | | | 324 | | | $ | 19,233 | |
| ACI Worldwide, Inc.* (Software) | | | 978 | | | | 33,692 | |
| AGCO Corp. (Machinery) | | | 281 | | | | 19,709 | |
| Alexander & Baldwin, Inc. (Equity Real Estate Investment Trusts) | | | 246 | | | | 5,378 | |
| Alleghany Corp.* (Insurance) | | | 60 | | | | 47,860 | |
| Allegheny Technologies, Inc.* (Metals & Mining) | | | 522 | | | | 9,005 | |
| Amedisys, Inc.* (Health Care Providers & Services) | | | 273 | | | | 48,182 | |
| American Campus Communities, Inc. (Equity Real Estate Investment Trusts) | | | 559 | | | | 25,641 | |
| AptarGroup, Inc. (Containers & Packaging) | | | 325 | | | | 37,541 | |
| Aqua America, Inc. (Water Utilities) | | | 1,004 | | | | 52,148 | |
| Arrowhead Pharmaceuticals, Inc.* (Biotechnology) | | | 848 | | | | 35,540 | |
| ASGN, Inc.* (Professional Services) | | | 273 | | | | 18,479 | |
| Axon Enterprise, Inc.* (Aerospace & Defense) | | | 502 | | | | 38,559 | |
| Bank of Hawaii Corp. (Banks) | | | 198 | | | | 17,741 | |
| Bio-Rad Laboratories, Inc.*—Class A (Life Sciences Tools & Services) | | | 132 | | | | 47,641 | |
| Bio-Techne Corp. (Life Sciences Tools & Services) | | | 323 | | | | 67,820 | |
| Black Hills Corp. (Multi-Utilities) | | | 244 | | | | 20,259 | |
| Blackbaud, Inc. (Software) | | | 416 | | | | 32,585 | |
| Boyd Gaming Corp. (Hotels, Restaurants & Leisure) | | | 677 | | | | 20,208 | |
| Brixmor Property Group, Inc. (Equity Real Estate Investment Trusts) | | | 1,410 | | | | 28,144 | |
| Brown & Brown, Inc. (Insurance) | | | 1,979 | | | | 88,857 | |
| Brunswick Corp. (Leisure Products) | | | 338 | | | | 21,243 | |
| Cable One, Inc. (Media) | | | 43 | | | | 73,273 | |
| Cabot Corp. (Chemicals) | | | 218 | | | | 8,687 | |
| Cabot Microelectronics Corp. (Semiconductors & Semiconductor Equipment) | | | 246 | | | | 35,795 | |
| CACI International, Inc.*—Class A (IT Services) | | | 213 | | | | 56,964 | |
| Caesars Entertainment Corp.* (Hotels, Restaurants & Leisure) | | | 4,721 | | | | 64,536 | |
| Camden Property Trust (Equity Real Estate Investment Trusts) | | | 451 | | | | 50,706 | |
| Cantel Medical Corp. (Health Care Equipment & Supplies) | | | 176 | | | | 11,451 | |
| Carlisle Cos., Inc. (Industrial Conglomerates) | | | 480 | | | | 74,990 | |
| Carpenter Technology Corp. (Metals & Mining) | | | 223 | | | | 8,862 | |
| Carter's, Inc. (Textiles, Apparel & Luxury Goods) | | | 235 | | | | 24,926 | |
| Casey's General Stores, Inc. (Food & Staples Retailing) | | | 312 | | | | 50,188 | |
| Catalent, Inc.* (Pharmaceuticals) | | | 1,238 | | | | 75,642 | |
| CDK Global, Inc. (Software) | | | 627 | | | | 33,657 | |
| Ceridian HCM Holding, Inc.* (Software) | | | 512 | | | | 37,524 | |
| Charles River Laboratories International, Inc.* (Life Sciences Tools & Services) | | | 413 | | | | 63,842 | |
| Chemed Corp. (Health Care Providers & Services) | | | 135 | | | | 63,050 | |
| Choice Hotels International, Inc. (Hotels,Restaurants & Leisure) | | | 269 | | | | 26,954 | |
| Churchill Downs, Inc. (Hotels, Restaurants & Leisure) | | | 299 | | | | 43,170 | |
| Ciena Corp.* (Communications Equipment) | | | 812 | | | | 33,024 | |
| Cirrus Logic, Inc.* (Semiconductors & Semiconductor Equipment) | | | 489 | | | | 37,560 | |
| CIT Group, Inc. (Banks) | | | 377 | | | | 17,233 | |
| Clean Harbors, Inc.* (Commercial Services & Supplies) | | | 434 | | | | 35,683 | |
| Cognex Corp. (Electronic Equipment, Instruments & Components) | | | 1,445 | | | | 73,652 | |
| Coherent, Inc.* (Electronic Equipment, Instruments & Components) | | | 205 | | | | 28,993 | |
| Colfax Corp.* (Machinery) | | | 318 | | | | 11,181 | |
| Columbia Sportswear Co. (Textiles, Apparel & Luxury Goods) | | | 152 | | | | 14,276 | |
| Commerce Bancshares, Inc. (Banks) | | | 483 | | | | 32,679 | |
| CommVault Systems, Inc.* (Software) | | | 175 | | | | 7,879 | |
| Compass Minerals International, Inc. (Metals & Mining) | | | 207 | | | | 11,983 | |
| Core Laboratories N.V. (Energy Equipment & Services) | | | 146 | | | | 5,129 | |
| CoreLogic, Inc.* (IT Services) | | | 303 | | | | 14,090 | |
| CoreSite Realty Corp. (Equity Real Estate Investment Trusts) | | | 319 | | | | 37,467 | |
| Corporate Office Properties Trust (Equity Real Estate Investment Trusts) | | | 437 | | | | 13,009 | |
| Cousins Properties, Inc. (Equity Real Estate Investment Trusts) | | | 1,241 | | | | 50,793 | |
| Curtiss-Wright Corp. (Aerospace & Defense) | | | 264 | | | | 38,394 | |
| Cypress Semiconductor Corp. (Semiconductors & Semiconductor Equipment) | | | 3,124 | | | | 72,884 | |
| CyrusOne, Inc. (Equity Real Estate Investment Trusts) | | | 623 | | | | 37,910 | |
| Deckers Outdoor Corp.* (Textiles, Apparel & Luxury Goods) | | | 236 | | | | 45,055 | |
| Deluxe Corp. (Commercial Services & Supplies) | | | 160 | | | | 7,712 | |
| Domino's Pizza, Inc. (Hotels, Restaurants & Leisure) | | | 346 | | | | 97,486 | |
| Donaldson Co., Inc. (Machinery) | | | 685 | | | | 35,517 | |
| Douglas Emmett, Inc. (Equity Real Estate Investment Trusts) | | | 878 | | | | 36,437 | |
| Dunkin' Brands Group, Inc. (Hotels, Restaurants & Leisure) | | | 701 | | | | 54,741 | |
| Eagle Materials, Inc. (Construction Materials) | | | 352 | | | | 32,092 | |
| EastGroup Properties, Inc. (Equity Real Estate Investment Trusts) | | | 325 | | | | 44,223 | |
| Eaton Vance Corp. (Capital Markets) | | | 680 | | | | 31,110 | |
| Eldorado Resorts, Inc.* (Hotels, Restaurants & Leisure) | | | 553 | | | | 33,058 | |
| EMCOR Group, Inc. (Construction & Engineering) | | | 219 | | | | 17,995 | |
| Encompass Health Corp. (Health Care Providers & Services) | | | 392 | | | | 30,196 | |
| Energizer Holdings, Inc. (Household Products) | | | 544 | | | | 25,165 | |
| EPR Properties (Equity Real Estate Investment Trusts) | | | 292 | | | | 20,840 | |
| Etsy, Inc.* (Internet & Direct Marketing Retail) | | | 1,002 | | | | 48,908 | |
| Evercore Partners, Inc.—Class A (Capital Markets) | | | 231 | | | | 17,699 | |
| Exelixis, Inc.* (Biotechnology) | | | 2,571 | | | | 44,221 | |
| FactSet Research Systems, Inc. (Capital Markets) | | | 321 | | | | 91,841 | |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Mid-Cap Growth ProFund :: 83
Common Stocks, continued
| | | Shares | | | Value | |
| Fair Isaac Corp.* (Software) | | | 245 | | | $ | 98,583 | |
| Federated Hermes, Inc.—Class B (Capital Markets) | | | 577 | | | | 20,905 | |
| First Financial Bankshares, Inc. (Banks) | | | 736 | | | | 24,671 | |
| First Industrial Realty Trust, Inc. (Equity Real Estate Investment Trusts) | | | 709 | | | | 30,274 | |
| FirstCash, Inc. (Consumer Finance) | | | 234 | | | | 20,351 | |
| Five Below, Inc.* (Specialty Retail) | | | 472 | | | | 53,440 | |
| FTI Consulting, Inc.* (Professional Services) | | | 318 | | | | 38,179 | |
| Gentex Corp. (Auto Components) | | | 2,141 | | | | 63,738 | |
| Globus Medical, Inc.*—Class A (Health Care Equipment & Supplies) | | | 652 | | | | 34,087 | |
| Graco, Inc. (Machinery) | | | 1,411 | | | | 74,994 | |
| GrubHub, Inc.* (Internet & Direct Marketing Retail) | | | 433 | | | | 23,447 | |
| Haemonetics Corp.* (Health Care Equipment & Supplies) | | | 276 | | | | 29,640 | |
| Hawaiian Electric Industries, Inc. (Electric Utilities) | | | 442 | | | | 21,617 | |
| Healthcare Realty Trust, Inc. (Equity Real Estate Investment Trusts) | | | 521 | | | | 18,787 | |
| HealthEquity, Inc.* (Health Care Providers & Services) | | | 600 | | | | 39,636 | |
| Helen of Troy, Ltd.* (Household Durables) | | | 126 | | | | 23,820 | |
| Herman Miller, Inc. (Commercial Services & Supplies) | | | 499 | | | | 19,286 | |
| Highwoods Properties, Inc. (Equity Real Estate Investment Trusts) | | | 439 | | | | 21,998 | |
| Hill-Rom Holdings, Inc. (Health Care Equipment & Supplies) | | | 311 | | | | 33,118 | |
| Hubbell, Inc. (Electrical Equipment) | | | 461 | | | | 66,029 | |
| ICU Medical, Inc.* (Health Care Equipment & Supplies) | | | 164 | | | | 29,925 | |
| IDACORP, Inc. (Electric Utilities) | | | 191 | | | | 21,428 | |
| Ingevity Corp.* (Chemicals) | | | 354 | | | | 23,088 | |
| Insperity, Inc. (Professional Services) | | | 178 | | | | 15,552 | |
| Integra LifeSciences Holdings Corp.* (Health Care Equipment & Supplies) | | | 603 | | | | 33,189 | |
| ITT, Inc. (Machinery) | | | 497 | | | | 33,339 | |
| j2 Global, Inc. (Software) | | | 392 | | | | 37,577 | |
| Jabil, Inc. (Electronic Equipment, Instruments & Components) | | | 1,176 | | | | 45,735 | |
| Jack in the Box, Inc. (Hotels, Restaurants & Leisure) | | | 98 | | | | 8,012 | |
| Jones Lang LaSalle, Inc. (Real Estate Management & Development) | | | 210 | | | | 35,662 | |
| KB Home (Household Durables) | | | 333 | | | | 12,504 | |
| KBR, Inc. (IT Services) | | | 1,199 | | | | 32,613 | |
| Kilroy Realty Corp. (Equity Real Estate Investment Trusts) | | | 495 | | | | 40,872 | |
| Kirby Corp.* (Marine) | | | 264 | | | | 19,349 | |
| Knight-Swift Transportation Holdings, Inc. (Road & Rail) | | | 1,039 | | | | 38,526 | |
| Lamar Advertising Co.—Class A (Equity Real Estate Investment Trusts) | | | 444 | | | | 41,208 | |
| Lancaster Colony Corp. (Food Products) | | | 82 | | | | 12,681 | |
| Landstar System, Inc. (Road & Rail) | | | 227 | | | | 25,140 | |
| LendingTree, Inc.* (Thrifts & Mortgage Finance) | | | 65 | | | | 20,228 | |
| Lennox International, Inc. (Building Products) | | | 196 | | | | 45,664 | |
| Liberty Property Trust (Equity Real Estate Investment Trusts) | | | 775 | | | | 48,554 | |
| Life Storage, Inc. (Equity Real Estate Investment Trusts) | | | 240 | | | | 27,163 | |
| Ligand Pharmaceuticals, Inc.*—Class B (Biotechnology) | | | 148 | | | | 12,996 | |
| Lincoln Electric Holdings, Inc. (Machinery) | | | 517 | | | | 46,106 | |
| Littelfuse, Inc. (Electronic Equipment, Instruments & Components) | | | 130 | | | | 22,998 | |
| LivaNova PLC* (Health Care Equipment & Supplies) | | | 209 | | | | 14,206 | |
| LiveRamp Holdings, Inc.* (IT Services) | | | 228 | | | | 9,175 | |
| LogMeIn, Inc. (Software) | | | 265 | | | | 22,782 | |
| Louisiana-Pacific Corp. (Paper & Forest Products) | | | 716 | | | | 21,967 | |
| Lumentum Holdings, Inc.* (Communications Equipment) | | | 654 | | | | 49,553 | |
| Manhattan Associates, Inc.* (Software) | | | 540 | | | | 46,148 | |
| Marriott Vacations Worldwide Corp. (Hotels, Restaurants & Leisure) | | | 317 | | | | 38,116 | |
| Masimo Corp.* (Health Care Equipment & Supplies) | | | 415 | | | | 70,799 | |
| MasTec, Inc.* (Construction & Engineering) | | | 510 | | | | 29,453 | |
| Matador Resources Co.* (Oil, Gas & Consumable Fuels) | | | 926 | | | | 13,584 | |
| MAXIMUS, Inc. (IT Services) | | | 298 | | | | 21,382 | |
| MDU Resources Group, Inc. (Multi-Utilities) | | | 712 | | | | 21,083 | |
| MEDNAX, Inc.* (Health Care Providers & Services) | | | 278 | | | | 6,413 | |
| Mercury Systems, Inc.* (Aerospace & Defense) | | | 471 | | | | 36,149 | |
| MKS Instruments, Inc. (Semiconductors & Semiconductor Equipment) | | | 462 | | | | 48,427 | |
| Monolithic Power Systems, Inc. (Semiconductors & Semiconductor Equipment) | | | 342 | | | | 58,540 | |
| MSA Safety, Inc. (Commercial Services & Supplies) | | | 193 | | | | 26,171 | |
| Murphy Oil Corp. (Oil, Gas & Consumable Fuels) | | | 568 | | | | 11,905 | |
| Murphy USA, Inc.* (Specialty Retail) | | | 244 | | | | 24,929 | |
| National Instruments Corp. (Electronic Equipment, Instruments & Components) | | | 470 | | | | 20,976 | |
| National Retail Properties, Inc. (Equity Real Estate Investment Trusts) | | | 799 | | | | 44,744 | |
| NCR Corp.* (Technology Hardware, Storage & Peripherals) | | | 465 | | | | 15,680 | |
| Nektar Therapeutics* (Pharmaceuticals) | | | 475 | | | | 9,448 | |
| New York Community Bancorp, Inc. (Thrifts & Mortgage Finance) | | | 1,974 | | | | 21,832 | |
| NewMarket Corp. (Chemicals) | | | 41 | | | | 18,024 | |
| Nordson Corp. (Machinery) | | | 433 | | | | 73,116 | |
| NuVasive, Inc.* (Health Care Equipment & Supplies) | | | 286 | | | | 22,056 | |
| Ollie's Bargain Outlet Holdings, Inc.* (Multiline Retail) | | | 259 | | | | 13,737 | |
| Omega Healthcare Investors, Inc. (Equity Real Estate Investment Trusts) | | | 832 | | | | 34,902 | |
| ONE Gas, Inc. (Gas Utilities) | | | 224 | | | | 21,168 | |
| Oshkosh Corp. (Machinery) | | | 339 | | | | 29,168 | |
| Owens Corning (Building Products) | | | 488 | | | | 29,519 | |
| Papa John's International, Inc. (Hotels, Restaurants & Leisure) | | | 120 | | | | 7,774 | |
| Penumbra, Inc.* (Health Care Equipment & Supplies) | | | 272 | | | | 47,725 | |
See accompanying notes to the financial statements.
84 :: Mid-Cap Growth ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Perspecta, Inc. (IT Services) | | | 1,163 | | | $ | 32,645 | |
| Pilgrim's Pride Corp.* (Food Products) | | | 284 | | | | 7,398 | |
| PNM Resources, Inc. (Electric Utilities) | | | 337 | | | | 18,276 | |
| Polaris, Inc. (Leisure Products) | | | 487 | | | | 44,726 | |
| Pool Corp. (Distributors) | | | 338 | | | | 74,123 | |
| Post Holdings, Inc.* (Food Products) | | | 259 | | | | 27,085 | |
| PotlatchDeltic Corp. (Equity Real Estate Investment Trusts) | | | 262 | | | | 11,266 | |
| PRA Health Sciences, Inc.* (Life Sciences Tools & Services) | | | 534 | | | | 54,100 | |
| Primerica, Inc. (Insurance) | | | 350 | | | | 41,496 | |
| PS Business Parks, Inc. (Equity Real Estate Investment Trusts) | | | 170 | | | | 28,485 | |
| PTC, Inc.* (Software) | | | 458 | | | | 38,069 | |
| Rayonier, Inc. (Equity Real Estate Investment Trusts) | | | 460 | | | | 13,975 | |
| Reliance Steel & Aluminum Co. (Metals & Mining) | | | 564 | | | | 64,746 | |
| RenaissanceRe Holdings, Ltd. (Insurance) | | | 374 | | | | 70,851 | |
| Repligen Corp.* (Biotechnology) | | | 397 | | | | 39,855 | |
| RH* (Specialty Retail) | | | 137 | | | | 28,599 | |
| RLI Corp. (Insurance) | | | 213 | | | | 19,811 | |
| Royal Gold, Inc. (Metals & Mining) | | | 555 | | | | 64,003 | |
| RPM International, Inc. (Chemicals) | | | 658 | | | | 46,962 | |
| Sabre Corp. (IT Services) | | | 1,111 | | | | 23,931 | |
| Sanderson Farms, Inc. (Food Products) | | | 168 | | | | 23,132 | |
| Science Applications International Corp. (IT Services) | | | 187 | | | | 16,413 | |
| Scientific Games Corp.*—Class A (Hotels, Restaurants & Leisure) | | | 458 | | | | 11,377 | |
| SEI Investments Co. (Capital Markets) | | | 1,068 | | | | 69,698 | |
| Semtech Corp.* (Semiconductors & Semiconductor Equipment) | | | 286 | | | | 13,782 | |
| Service Corp. International (Diversified Consumer Services) | | | 789 | | | | 37,832 | |
| Silgan Holdings, Inc. (Containers & Packaging) | | | 393 | | | | 12,128 | |
| Silicon Laboratories, Inc.* (Semiconductors & Semiconductor Equipment) | | | 368 | | | | 36,178 | |
| Six Flags Entertainment Corp. (Hotels, Restaurants & Leisure) | | | 332 | | | | 12,659 | |
| Skechers U.S.A., Inc.*—Class A (Textiles, Apparel & Luxury Goods) | | | 1,134 | | | | 42,400 | |
| SLM Corp. (Consumer Finance) | | | 1,786 | | | | 19,503 | |
| SolarEdge Technologies, Inc.* (Semiconductors & Semiconductor Equipment) | | | 411 | | | | 40,220 | |
| Spirit Realty Capital, Inc. (Equity Real Estate Investment Trusts) | | | 355 | | | | 18,737 | |
| Steel Dynamics, Inc. (Metals & Mining) | | | 892 | | | | 26,653 | |
| Stericycle, Inc.* (Commercial Services & Supplies) | | | 339 | | | | 21,249 | |
| Stifel Financial Corp. (Capital Markets) | | | 283 | | | | 18,307 | |
| Synaptics, Inc.* (Semiconductors & Semiconductor Equipment) | | | 172 | | | | 11,471 | |
| Syneos Health, Inc.* (Life Sciences Tools & Services) | | | 526 | | | | 32,275 | |
| Taubman Centers, Inc. (Equity Real Estate Investment Trusts) | | | 223 | | | | 5,892 | |
| Teledyne Technologies, Inc.* (Aerospace & Defense) | | | 309 | | | | 112,803 | |
| Tempur Sealy International, Inc.* (Household Durables) | | | 385 | | | | 35,274 | |
| Teradata Corp.* (IT Services) | | | 371 | | | | 9,030 | |
| Teradyne, Inc. (Semiconductors & Semiconductor Equipment) | | | 1,418 | | | | 93,575 | |
| Tetra Tech, Inc. (Commercial Services & Supplies) | | | 462 | | | | 39,547 | |
| Texas Roadhouse, Inc.—Class A (Hotels, Restaurants & Leisure) | | | 281 | | | | 17,563 | |
| The Boston Beer Co, Inc.*—Class A (Beverages) | | | 77 | | | | 27,441 | |
| The Brink's Co. (Commercial Services & Supplies) | | | 424 | | | | 35,697 | |
| The New York Times Co.—Class A (Media) | | | 802 | | | | 25,672 | |
| The Scotts Miracle-Gro Co.—Class A (Chemicals) | | | 335 | | | | 41,118 | |
| The Timken Co. (Machinery) | | | 575 | | | | 30,205 | |
| The Toro Co. (Machinery) | | | 902 | | | | 72,178 | |
| The Wendy's Co. (Hotels, Restaurants & Leisure) | | | 904 | | | | 19,590 | |
| Toll Brothers, Inc. (Household Durables) | | | 547 | | | | 24,265 | |
| Tootsie Roll Industries, Inc.(a) (Food Products) | | | 65 | | | | 2,217 | |
| Trex Co., Inc.* (Building Products) | | | 493 | | | | 48,433 | |
| Trimble, Inc.* (Electronic Equipment, Instruments & Components) | | | 2,108 | | | | 89,632 | |
| Tyler Technologies, Inc.* (Software) | | | 329 | | | | 106,492 | |
| Universal Display Corp. (Semiconductors & Semiconductor Equipment) | | | 359 | | | | 63,245 | |
| Urban Edge Properties (Equity Real Estate Investment Trusts) | | | 448 | | | | 8,239 | |
| Valmont Industries, Inc. (Construction & Engineering) | | | 83 | | | | 11,791 | |
| Valvoline, Inc. (Chemicals) | | | 860 | | | | 18,129 | |
| ViaSat, Inc.* (Communications Equipment) | | | 249 | | | | 15,849 | |
| Visteon Corp.* (Auto Components) | | | 168 | | | | 13,408 | |
| Washington Federal, Inc. (Thrifts & Mortgage Finance) | | | 417 | | | | 14,178 | |
| Watsco, Inc. (Trading Companies & Distributors) | | | 140 | | | | 24,349 | |
| Weingarten Realty Investors (Equity Real Estate Investment Trusts) | | | 449 | | | | 13,066 | |
| Werner Enterprises, Inc. (Road & Rail) | | | 172 | | | | 6,340 | |
| West Pharmaceutical Services, Inc. (Health Care Equipment & Supplies) | | | 627 | | | | 97,780 | |
| WEX, Inc.* (IT Services) | | | 367 | | | | 79,609 | |
| Williams-Sonoma, Inc. (Specialty Retail) | | | 453 | | | | 31,746 | |
| Woodward, Inc. (Machinery) | | | 478 | | | | 55,596 | |
| World Wrestling Entertainment, Inc.—Class A (Entertainment) | | | 228 | | | | 11,145 | |
| WPX Energy, Inc.* (Oil, Gas & Consumable Fuels) | | | 3,524 | | | | 42,112 | |
| WW International, Inc.* (Diversified Consumer Services) | | | 205 | | | | 6,761 | |
| Wyndham Destinations, Inc. (Hotels, Restaurants & Leisure) | | | 329 | | | | 15,966 | |
| Wyndham Hotels & Resorts, Inc. (Hotels, Restaurants & Leisure) | | | 806 | | | | 46,079 | |
| Yelp, Inc.* (Interactive Media & Services) | | | 541 | | | | 17,637 | |
| TOTAL COMMON STOCKS | | | | | | | | |
| (Cost $5,951,529) | | | | | | | 7,939,222 | |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Mid-Cap Growth ProFund :: 85
Repurchase Agreement(b)(NM)
| | | Principal
Amount | | | Value | |
| Repurchase Agreement with various counterparties, rate 1.32%, dated 1/31/20, due 2/3/20, total to be received $1,000 | | $ | 1,000 | | | $ | 1,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $1,000) | | | | | | | 1,000 | |
Collateral for Securities Loaned(NM)
| | | Shares | | | Value | |
| BlackRock Liquidity Funds FedFund Portfolio—Institutional Shares, 1.81%(c) | | | 816 | | | $ | 816 | |
| Invesco Government & Agency Portfolio—Institutional Shares, 1.77%(c) | | | 250 | | | | 250 | |
| Fidelity Investments Money Market Government Portfolio—Class I, 1.80%(c) | | | 776 | | | | 776 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $1,842) | | | | | | | 1,842 | |
TOTAL INVESTMENT SECURITIES
(Cost $5,954,371)—100.3% | | | | | | | 7,942,064 | |
| Net other assets (liabilities)—(0.3)% | | | | | | | (23,519 | ) |
| NET ASSETS—100.0% | | | | | | $ | 7,918,545 | |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2020. The total value of securities on loan as of January 31, 2020 was $1,808. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See “Repurchase Agreements” under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (c) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2020. |
| NM | Not meaningful, amount is less than 0.05%. |
See accompanying notes to the financial statements.
86 :: Mid-Cap Growth ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Mid-Cap Growth ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 225,905 | | | | 2.9 | % |
| Auto Components | | | 77,146 | | | | 1.0 | % |
| Banks | | | 92,324 | | | | 1.2 | % |
| Beverages | | | 27,441 | | | | 0.3 | % |
| Biotechnology | | | 132,612 | | | | 1.7 | % |
| Building Products | | | 123,616 | | | | 1.6 | % |
| Capital Markets | | | 249,560 | | | | 3.2 | % |
| Chemicals | | | 156,008 | | | | 2.0 | % |
| Commercial Services & Supplies | | | 185,345 | | | | 2.3 | % |
| Communications Equipment | | | 98,426 | | | | 1.2 | % |
| Construction & Engineering | | | 59,239 | | | | 0.7 | % |
| Construction Materials | | | 32,092 | | | | 0.4 | % |
| Consumer Finance | | | 39,854 | | | | 0.5 | % |
| Containers & Packaging | | | 49,669 | | | | 0.6 | % |
| Distributors | | | 74,123 | | | | 0.9 | % |
| Diversified Consumer Services | | | 44,593 | | | | 0.6 | % |
| Electric Utilities | | | 61,322 | | | | 0.8 | % |
| Electrical Equipment | | | 66,029 | | | | 0.8 | % |
| Electronic Equipment, Instruments & Components | | | 281,986 | | | | 3.6 | % |
| Energy Equipment & Services | | | 5,129 | | | | 0.1 | % |
| Entertainment | | | 11,145 | | | | 0.1 | % |
| Equity Real Estate Investment Trusts | | | 758,710 | | | | 9.5 | % |
| Food & Staples Retailing | | | 50,188 | | | | 0.6 | % |
| Food Products | | | 72,512 | | | | 0.9 | % |
| Gas Utilities | | | 21,168 | | | | 0.3 | % |
| Health Care Equipment & Supplies | | | 423,976 | | | | 5.4 | % |
| Health Care Providers & Services | | | 187,477 | | | | 2.4 | % |
| Hotels, Restaurants & Leisure | | | 517,288 | | | | 6.5 | % |
| Household Durables | | | 95,863 | | | | 1.2 | % |
| Household Products | | | 25,165 | | | | 0.3 | % |
| Industrial Conglomerates | | | 74,990 | | | | 0.9 | % |
| Insurance | | | 268,874 | | | | 3.4 | % |
| Interactive Media & Services | | | 17,637 | | | | 0.2 | % |
| Internet & Direct Marketing Retail | | | 72,355 | | | | 0.9 | % |
| IT Services | | | 295,852 | | | | 3.7 | % |
| Leisure Products | | | 65,969 | | | | 0.8 | % |
| Life Sciences Tools & Services | | | 265,678 | | | | 3.4 | % |
| Machinery | | | 481,110 | | | | 6.1 | % |
| Marine | | | 19,349 | | | | 0.2 | % |
| Media | | | 98,945 | | | | 1.2 | % |
| Metals & Mining | | | 185,253 | | | | 2.3 | % |
| Multiline Retail | | | 13,737 | | | | 0.2 | % |
| Multi-Utilities | | | 41,342 | | | | 0.5 | % |
| Oil, Gas & Consumable Fuels | | | 67,602 | | | | 0.9 | % |
| Paper & Forest Products | | | 21,967 | | | | 0.3 | % |
| Pharmaceuticals | | | 85,090 | | | | 1.1 | % |
| Professional Services | | | 72,210 | | | | 0.9 | % |
| Real Estate Management & Development | | | 35,662 | | | | 0.5 | % |
| Road & Rail | | | 70,006 | | | | 0.9 | % |
| Semiconductors & Semiconductor Equipment | | | 511,676 | | | | 6.5 | % |
| Software | | | 494,988 | | | | 6.3 | % |
| Specialty Retail | | | 157,947 | | | | 2.0 | % |
| Technology Hardware, Storage & Peripherals | | | 15,680 | | | | 0.2 | % |
| Textiles, Apparel & Luxury Goods | | | 126,657 | | | | 1.6 | % |
| Thrifts & Mortgage Finance | | | 56,238 | | | | 0.7 | % |
| Trading Companies & Distributors | | | 24,349 | | | | 0.3 | % |
| Water Utilities | | | 52,148 | | | | 0.7 | % |
| Other** | | | (20,677 | ) | | | (0.3 | )% |
| Total | | $ | 7,918,545 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Mid-Cap Value ProFund :: 87
Common Stocks (100.0%)
| | | Shares | | | Value | |
| Aaron's, Inc. (Specialty Retail) | | | 190 | | | $ | 11,278 | |
| Acadia Healthcare Co., Inc.* (Health Care Providers & Services) | | | 582 | | | | 18,700 | |
| Acuity Brands, Inc. (Electrical Equipment) | | | 260 | | | | 30,646 | |
| Adient PLC* (Auto Components) | | | 573 | | | | 14,732 | |
| Adtalem Global Education, Inc.* (Diversified Consumer Services) | | | 355 | | | | 12,251 | |
| AECOM* (Construction & Engineering) | | | 1,031 | | | | 49,724 | |
| Affiliated Managers Group, Inc. (Capital Markets) | | | 323 | | | | 25,792 | |
| AGCO Corp. (Machinery) | | | 192 | | | | 13,467 | |
| Alexander & Baldwin, Inc. (Equity Real Estate Investment Trusts) | | | 256 | | | | 5,596 | |
| Alleghany Corp.* (Insurance) | | | 47 | | | | 37,490 | |
| Allegheny Technologies, Inc.* (Metals & Mining) | | | 424 | | | | 7,314 | |
| ALLETE, Inc. (Electric Utilities) | | | 339 | | | | 28,300 | |
| Allscripts Healthcare Solutions, Inc.* (Health Care Technology) | | | 1,069 | | | | 9,172 | |
| AMC Networks, Inc.*—Class A (Media) | | | 289 | | | | 10,575 | |
| American Campus Communities, Inc. (Equity Real Estate Investment Trusts) | | | 468 | | | | 21,467 | |
| American Eagle Outfitters, Inc. (Specialty Retail) | | | 1,044 | | | | 15,034 | |
| American Financial Group, Inc. (Insurance) | | | 491 | | | | 53,416 | |
| Antero Midstream Corp.(a) (Oil, Gas & Consumable Fuels) | | | 1,952 | | | | 9,838 | |
| Apergy Corp.* (Energy Equipment & Services) | | | 508 | | | | 13,137 | |
| AptarGroup, Inc. (Containers & Packaging) | | | 169 | | | | 19,521 | |
| Aqua America, Inc. (Water Utilities) | | | 636 | | | | 33,034 | |
| Arrow Electronics, Inc.* (Electronic Equipment, Instruments & Components) | | | 535 | | | | 40,629 | |
| ASGN, Inc.* (Professional Services) | | | 135 | | | | 9,138 | |
| Ashland Global Holdings, Inc. (Chemicals) | | | 395 | | | | 29,221 | |
| Associated Banc-Corp. (Banks) | | | 1,048 | | | | 20,887 | |
| AutoNation, Inc.* (Specialty Retail) | | | 387 | | | | 16,424 | |
| Avanos Medical, Inc.* (Health Care Equipment & Supplies) | | | 316 | | | | 8,703 | |
| Avis Budget Group, Inc.* (Road & Rail) | | | 373 | | | | 12,234 | |
| Avnet, Inc. (Electronic Equipment, Instruments & Components) | | | 663 | | | | 24,193 | |
| BancorpSouth Bank (Banks) | | | 630 | | | | 17,999 | |
| Bank of Hawaii Corp. (Banks) | | | 111 | | | | 9,946 | |
| Bank OZK (Banks) | | | 793 | | | | 21,554 | |
| Bed Bath & Beyond, Inc.(a) (Specialty Retail) | | | 833 | | | | 11,870 | |
| Belden, Inc. (Electronic Equipment, Instruments & Components) | | | 253 | | | | 12,465 | |
| Bio-Rad Laboratories, Inc.*—Class A (Life Sciences Tools & Services) | | | 39 | | | | 14,076 | |
| BJ's Wholesale Club Holdings, Inc.* (Food & Staples Retailing) | | | 803 | | | | 16,477 | |
| Black Hills Corp. (Multi-Utilities) | | | 214 | | | | 17,768 | |
| Brighthouse Financial, Inc.* (Insurance) | | | 718 | | | | 27,930 | |
| Brinker International, Inc. (Hotels, Restaurants & Leisure) | | | 245 | | | | 10,459 | |
| Brixmor Property Group, Inc. (Equity Real Estate Investment Trusts) | | | 860 | | | | 17,166 | |
| Brunswick Corp. (Leisure Products) | | | 272 | | | | 17,095 | |
| Cabot Corp. (Chemicals) | | | 206 | | | | 8,209 | |
| Camden Property Trust (Equity Real Estate Investment Trusts) | | | 286 | | | | 32,155 | |
| Cantel Medical Corp. (Health Care Equipment & Supplies) | | | 107 | | | | 6,961 | |
| Carpenter Technology Corp. (Metals & Mining) | | | 141 | | | | 5,603 | |
| Carter's, Inc. (Textiles, Apparel & Luxury Goods) | | | 107 | | | | 11,350 | |
| Cathay General Bancorp (Banks) | | | 498 | | | | 17,958 | |
| CDK Global, Inc. (Software) | | | 311 | | | | 16,694 | |
| Ceridian HCM Holding, Inc.* (Software) | | | 263 | | | | 19,275 | |
| Chesapeake Energy Corp.* (Oil, Gas & Consumable Fuels) | | | 7,698 | | | | 3,940 | |
| Ciena Corp.* (Communications Equipment) | | | 387 | | | | 15,740 | |
| Cinemark Holdings, Inc. (Entertainment) | | | 700 | | | | 22,057 | |
| CIT Group, Inc. (Banks) | | | 330 | | | | 15,084 | |
| CNO Financial Group, Inc. (Insurance) | | | 994 | | | | 17,484 | |
| CNX Resources Corp.* (Oil, Gas & Consumable Fuels) | | | 1,228 | | | | 8,878 | |
| Colfax Corp.* (Machinery) | | | 303 | | | | 10,653 | |
| Columbia Sportswear Co. (Textiles, Apparel & Luxury Goods) | | | 72 | | | | 6,762 | |
| Commerce Bancshares, Inc. (Banks) | | | 306 | | | | 20,704 | |
| Commercial Metals Co. (Metals & Mining) | | | 779 | | | | 16,008 | |
| CommVault Systems, Inc.* (Software) | | | 141 | | | | 6,348 | |
| Compass Minerals International, Inc. (Metals & Mining) | | | 62 | | | | 3,589 | |
| Core Laboratories N.V. (Energy Equipment & Services) | | | 178 | | | | 6,253 | |
| Corecivic, Inc. (Equity Real Estate Investment Trusts) | | | 784 | | | | 12,505 | |
| CoreLogic, Inc.* (IT Services) | | | 288 | | | | 13,392 | |
| Corporate Office Properties Trust (Equity Real Estate Investment Trusts) | | | 398 | | | | 11,848 | |
| Cracker Barrel Old Country Store, Inc. (Hotels, Restaurants & Leisure) | | | 157 | | | | 24,010 | |
| Crane Co. (Machinery) | | | 335 | | | | 28,630 | |
| Cree, Inc.* (Semiconductors & Semiconductor Equipment) | | | 707 | | | | 32,869 | |
| Cullen/Frost Bankers, Inc. (Banks) | | | 374 | | | | 33,346 | |
| Curtiss-Wright Corp. (Aerospace & Defense) | | | 75 | | | | 10,907 | |
| CyrusOne, Inc. (Equity Real Estate Investment Trusts) | | | 260 | | | | 15,821 | |
| Dana, Inc. (Auto Components) | | | 945 | | | | 14,562 | |
| Delphi Technologies PLC* (Auto Components) | | | 567 | | | | 8,698 | |
| Deluxe Corp. (Commercial Services & Supplies) | | | 153 | | | | 7,375 | |
| Dick's Sporting Goods, Inc. (Specialty Retail) | | | 417 | | | | 18,444 | |
| Dillard's, Inc.—Class A (Multiline Retail) | | | 65 | | | | 3,947 | |
| Diversified Healthcare Trust (Equity Real Estate Investment Trusts) | | | 1,565 | | | | 12,082 | |
| Domtar Corp. (Paper & Forest Products) | | | 377 | | | | 13,127 | |
| Donaldson Co., Inc. (Machinery) | | | 300 | | | | 15,555 | |
| Douglas Emmett, Inc. (Equity Real Estate Investment Trusts) | | | 400 | | | | 16,600 | |
| Dycom Industries, Inc.* (Construction & Engineering) | | | 207 | | | | 8,367 | |
| East West Bancorp, Inc. (Banks) | | | 955 | | | | 43,777 | |
| Eaton Vance Corp. (Capital Markets) | | | 215 | | | | 9,836 | |
See accompanying notes to the financial statements.
88 :: Mid-Cap Value ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Edgewell Personal Care Co.* (Personal Products) | | | 356 | | | $ | 9,192 | |
| EMCOR Group, Inc. (Construction & Engineering) | | | 199 | | | | 16,352 | |
| Encompass Health Corp. (Health Care Providers & Services) | | | 343 | | | | 26,421 | |
| EnerSys (Electrical Equipment) | | | 276 | | | | 19,861 | |
| EPR Properties (Equity Real Estate Investment Trusts) | | | 288 | | | | 20,555 | |
| EQT Corp. (Oil, Gas & Consumable Fuels) | | | 1,681 | | | | 10,170 | |
| Equitrans Midstream Corp. (Oil, Gas & Consumable Fuels) | | | 1,340 | | | | 12,958 | |
| Evercore Partners, Inc.—Class A (Capital Markets) | | | 76 | | | | 5,823 | |
| F.N.B. Corp. (Banks) | | | 2,135 | | | | 24,915 | |
| Federated Hermes, Inc.—Class B (Capital Markets) | | | 184 | | | | 6,666 | |
| First American Financial Corp. (Insurance) | | | 737 | | | | 45,679 | |
| First Financial Bankshares, Inc. (Banks) | | | 322 | | | | 10,793 | |
| First Horizon National Corp. (Banks) | | | 2,045 | | | | 32,720 | |
| First Industrial Realty Trust, Inc. (Equity Real Estate Investment Trusts) | | | 283 | | | | 12,084 | |
| First Solar, Inc.* (Semiconductors & Semiconductor Equipment) | | | 499 | | | | 24,741 | |
| FirstCash, Inc. (Consumer Finance) | | | 99 | | | | 8,610 | |
| Flowers Foods, Inc. (Food Products) | | | 1,264 | | | | 27,214 | |
| Fluor Corp. (Construction & Engineering) | | | 922 | | | | 16,495 | |
| Foot Locker, Inc. (Specialty Retail) | | | 702 | | | | 26,655 | |
| Fulton Financial Corp. (Banks) | | | 1,078 | | | | 17,755 | |
| GATX Corp. (Trading Companies & Distributors) | | | 230 | | | | 17,510 | |
| Genworth Financial, Inc.*—Class A (Insurance) | | | 3,306 | | | | 13,555 | |
| Graham Holdings Co.—Class B (Diversified Consumer Services) | | | 28 | | | | 15,378 | |
| Grand Canyon Education, Inc.* (Diversified Consumer Services) | | | 317 | | | | 24,815 | |
| Green Dot Corp.*—Class A (Consumer Finance) | | | 311 | | | | 9,355 | |
| Greif, Inc.—Class A (Containers & Packaging) | | | 173 | | | | 6,993 | |
| GrubHub, Inc.* (Internet & Direct Marketing Retail) | | | 263 | | | | 14,241 | |
| Haemonetics Corp.* (Health Care Equipment & Supplies) | | | 120 | | | | 12,887 | |
| Hancock Whitney Corp. (Banks) | | | 572 | | | | 22,731 | |
| Hawaiian Electric Industries, Inc. (Electric Utilities) | | | 372 | | | | 18,195 | |
| Healthcare Realty Trust, Inc. (Equity Real Estate Investment Trusts) | | | 475 | | | | 17,129 | |
| Healthcare Services Group, Inc. (Commercial Services & Supplies) | | | 487 | | | | 12,467 | |
| Helen of Troy, Ltd.* (Household Durables) | | | 68 | | | | 12,855 | |
| Highwoods Properties, Inc. (Equity Real Estate Investment Trusts) | | | 341 | | | | 17,088 | |
| Hill-Rom Holdings, Inc. (Health Care Equipment & Supplies) | | | 196 | | | | 20,873 | |
| HNI Corp. (Commercial Services & Supplies) | | | 281 | | | | 10,108 | |
| Home BancShares, Inc. (Banks) | | | 1,020 | | | | 19,502 | |
| IDACORP, Inc. (Electric Utilities) | | | 181 | | | | 20,306 | |
| II-VI, Inc.* (Electronic Equipment, Instruments & Components) | | | 572 | | | | 19,248 | |
| Ingredion, Inc. (Food Products) | | | 438 | | | | 38,544 | |
| Insperity, Inc. (Professional Services) | | | 108 | | | | 9,436 | |
| Interactive Brokers Group, Inc.—Class A (Capital Markets) | | | 504 | | | | 23,688 | |
| InterDigital, Inc. (Communications Equipment) | | | 204 | | | | 11,271 | |
| International Bancshares Corp. (Banks) | | | 377 | | | | 14,854 | |
| ITT, Inc. (Machinery) | | | 190 | | | | 12,745 | |
| Jack in the Box, Inc. (Hotels, Restaurants & Leisure) | | | 78 | | | | 6,377 | |
| Janus Henderson Group PLC (Capital Markets) | | | 1,023 | | | | 25,852 | |
| JBG Smith Properties (Equity Real Estate Investment Trusts) | | | 775 | | | | 31,426 | |
| Jefferies Financial Group, Inc. (Diversified Financial Services) | | | 1,654 | | | | 35,793 | |
| JetBlue Airways Corp.* (Airlines) | | | 1,896 | | | | 37,598 | |
| John Wiley & Sons, Inc.—Class A (Media) | | | 288 | | | | 12,562 | |
| Jones Lang LaSalle, Inc. (Real Estate Management & Development) | | | 176 | | | | 29,888 | |
| KAR Auction Services, Inc. (Commercial Services & Supplies) | | | 846 | | | | 17,783 | |
| KB Home (Household Durables) | | | 305 | | | | 11,453 | |
| Kemper Corp. (Insurance) | | | 410 | | | | 30,512 | |
| Kennametal, Inc. (Machinery) | | | 544 | | | | 17,022 | |
| Kilroy Realty Corp. (Equity Real Estate Investment Trusts) | | | 255 | | | | 21,055 | |
| Kirby Corp.* (Marine) | | | 188 | | | | 13,779 | |
| Lamar Advertising Co.—Class A (Equity Real Estate Investment Trusts) | | | 221 | | | | 20,511 | |
| Lancaster Colony Corp. (Food Products) | | | 66 | | | | 10,207 | |
| Landstar System, Inc. (Road & Rail) | | | 83 | | | | 9,192 | |
| Lear Corp. (Auto Components) | | | 361 | | | | 44,468 | |
| Legg Mason, Inc. (Capital Markets) | | | 535 | | | | 20,945 | |
| Lennox International, Inc. (Building Products) | | | 78 | | | | 18,172 | |
| Liberty Property Trust (Equity Real Estate Investment Trusts) | | | 435 | | | | 27,253 | |
| Life Storage, Inc. (Equity Real Estate Investment Trusts) | | | 120 | | | | 13,582 | |
| Littelfuse, Inc. (Electronic Equipment, Instruments & Components) | | | 58 | | | | 10,261 | |
| LivaNova PLC* (Health Care Equipment & Supplies) | | | 156 | | | | 10,603 | |
| LiveRamp Holdings, Inc.* (IT Services) | | | 266 | | | | 10,704 | |
| LogMeIn, Inc. (Software) | | | 115 | | | | 9,887 | |
| Louisiana-Pacific Corp. (Paper & Forest Products) | | | 215 | | | | 6,596 | |
| Mack-Cali Realty Corp. (Equity Real Estate Investment Trusts) | | | 595 | | | | 13,066 | |
| ManpowerGroup, Inc. (Professional Services) | | | 387 | | | | 35,407 | |
| Mattel, Inc.* (Leisure Products) | | | 2,280 | | | | 33,357 | |
| MAXIMUS, Inc. (IT Services) | | | 190 | | | | 13,633 | |
| MDU Resources Group, Inc. (Multi-Utilities) | | | 762 | | | | 22,563 | |
| Medical Properties Trust, Inc. (Equity Real Estate Investment Trusts) | | | 3,398 | | | | 75,266 | |
| MEDNAX, Inc.* (Health Care Providers & Services) | | | 338 | | | | 7,798 | |
| Mercury General Corp. (Insurance) | | | 177 | | | | 8,689 | |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Mid-Cap Value ProFund :: 89
Common Stocks, continued
| | | Shares | | | Value | |
| Meredith Corp. (Media) | | | 263 | | | $ | 7,903 | |
| Minerals Technologies, Inc. (Chemicals) | | | 228 | | | | 12,342 | |
| Molina Healthcare, Inc.* (Health Care Providers & Services) | | | 412 | | | | 50,663 | |
| MSA Safety, Inc. (Commercial Services & Supplies) | | | 84 | | | | 11,390 | |
| MSC Industrial Direct Co., Inc.—Class A (Trading Companies & Distributors) | | | 297 | | | | 20,216 | |
| Murphy Oil Corp. (Oil, Gas & Consumable Fuels) | | | 540 | | | | 11,318 | |
| National Fuel Gas Co. (Gas Utilities) | | | 566 | | | | 24,446 | |
| National Instruments Corp. (Electronic Equipment, Instruments & Components) | | | 410 | | | | 18,298 | |
| National Retail Properties, Inc. (Equity Real Estate Investment Trusts) | | | 507 | | | | 28,392 | |
| Navient Corp. (Consumer Finance) | | | 1,279 | | | | 18,392 | |
| NCR Corp.* (Technology Hardware, Storage & Peripherals) | | | 477 | | | | 16,084 | |
| Nektar Therapeutics* (Pharmaceuticals) | | | 785 | | | | 15,613 | |
| NetScout Systems, Inc.* (Communications Equipment) | | | 433 | | | | 11,132 | |
| New Jersey Resources Corp. (Gas Utilities) | | | 626 | | | | 25,866 | |
| New York Community Bancorp, Inc. (Thrifts & Mortgage Finance) | | | 1,537 | | | | 16,999 | |
| NewMarket Corp. (Chemicals) | | | 17 | | | | 7,474 | |
| NorthWestern Corp. (Multi-Utilities) | | | 332 | | | | 25,554 | |
| NOW, Inc.* (Trading Companies & Distributors) | | | 717 | | | | 7,177 | |
| Nu Skin Enterprises, Inc.—Class A (Personal Products) | | | 365 | | | | 11,895 | |
| NuVasive, Inc.* (Health Care Equipment & Supplies) | | | 120 | | | | 9,254 | |
| nVent Electric PLC (Electrical Equipment) | | | 1,023 | | | | 25,473 | |
| OGE Energy Corp. (Electric Utilities) | | | 1,313 | | | | 60,200 | |
| O-I Glass, Inc. (Containers & Packaging) | | | 1,024 | | | | 12,923 | |
| Old Republic International Corp. (Insurance) | | | 1,874 | | | | 42,259 | |
| Olin Corp. (Chemicals) | | | 1,050 | | | | 15,614 | |
| Ollie's Bargain Outlet Holdings, Inc.* (Multiline Retail) | | | 157 | | | | 8,327 | |
| Omega Healthcare Investors, Inc. (Equity Real Estate Investment Trusts) | | | 788 | | | | 33,057 | |
| ONE Gas, Inc. (Gas Utilities) | | | 174 | | | | 16,443 | |
| Oshkosh Corp. (Machinery) | | | 183 | | | | 15,745 | |
| Owens Corning (Building Products) | | | 335 | | | | 20,264 | |
| PacWest Bancorp (Banks) | | | 786 | | | | 27,549 | |
| Papa John's International, Inc. (Hotels, Restaurants & Leisure) | | | 52 | | | | 3,369 | |
| Park Hotels & Resorts, Inc. (Equity Real Estate Investment Trusts) | | | 1,571 | | | | 34,468 | |
| Patterson Cos., Inc. (Health Care Providers & Services) | | | 566 | | | | 12,458 | |
| Patterson-UTI Energy, Inc. (Energy Equipment & Services) | | | 1,280 | | | | 10,163 | |
| PBF Energy, Inc.—Class A (Oil, Gas & Consumable Fuels) | | | 669 | | | | 18,264 | |
| Pebblebrook Hotel Trust (Equity Real Estate Investment Trusts) | | | 858 | | | | 20,352 | |
| Penn National Gaming, Inc.* (Hotels, Restaurants & Leisure) | | | 716 | | | | 21,358 | |
| Pilgrim's Pride Corp.* (Food Products) | | | 124 | | | | 3,230 | |
| Pinnacle Financial Partners, Inc. (Banks) | | | 471 | | | | 27,817 | |
| PNM Resources, Inc. (Electric Utilities) | | | 260 | | | | 14,100 | |
| PolyOne Corp. (Chemicals) | | | 592 | | | | 19,643 | |
| Post Holdings, Inc.* (Food Products) | | | 236 | | | | 24,679 | |
| PotlatchDeltic Corp. (Equity Real Estate Investment Trusts) | | | 239 | | | | 10,277 | |
| Prestige Consumer Healthcare, Inc.* (Pharmaceuticals) | | | 330 | | | | 13,385 | |
| Prosperity Bancshares, Inc. (Banks) | | | 619 | | | | 43,454 | |
| PTC, Inc.* (Software) | | | 328 | | | | 27,263 | |
| Rayonier, Inc. (Equity Real Estate Investment Trusts) | | | 493 | | | | 14,977 | |
| Regal Beloit Corp. (Electrical Equipment) | | | 268 | | | | 21,027 | |
| Reinsurance Group of America, Inc. (Insurance) | | | 410 | | | | 59,061 | |
| Resideo Technologies, Inc.* (Building Products) | | | 809 | | | | 8,236 | |
| RLI Corp. (Insurance) | | | 96 | | | | 8,929 | |
| RPM International, Inc. (Chemicals) | | | 341 | | | | 24,337 | |
| Ryder System, Inc. (Road & Rail) | | | 351 | | | | 16,750 | |
| Sabra Health Care REIT, Inc. (Equity Real Estate Investment Trusts) | | | 1,272 | | | | 27,348 | |
| Sabre Corp. (IT Services) | | | 935 | | | | 20,139 | |
| Sally Beauty Holdings, Inc.* (Specialty Retail) | | | 766 | | | | 11,758 | |
| Science Applications International Corp. (IT Services) | | | 176 | | | | 15,447 | |
| Selective Insurance Group, Inc. (Insurance) | | | 389 | | | | 25,771 | |
| Semtech Corp.* (Semiconductors & Semiconductor Equipment) | | | 213 | | | | 10,264 | |
| Sensient Technologies Corp. (Chemicals) | | | 278 | | | | 16,611 | |
| Service Corp. International (Diversified Consumer Services) | | | 588 | | | | 28,195 | |
| Service Properties Trust (Equity Real Estate Investment Trusts) | | | 1,081 | | | | 23,328 | |
| Signature Bank (Banks) | | | 355 | | | | 50,370 | |
| Silgan Holdings, Inc. (Containers & Packaging) | | | 204 | | | | 6,295 | |
| Six Flags Entertainment Corp. (Hotels, Restaurants & Leisure) | | | 257 | | | | 9,799 | |
| SLM Corp. (Consumer Finance) | | | 1,388 | | | | 15,157 | |
| Sonoco Products Co. (Containers & Packaging) | | | 657 | | | | 37,541 | |
| Southwest Gas Holdings, Inc. (Gas Utilities) | | | 359 | | | | 27,108 | |
| Spire, Inc. (Gas Utilities) | | | 335 | | | | 28,247 | |
| Spirit Realty Capital, Inc. (Equity Real Estate Investment Trusts) | | | 380 | | | | 20,056 | |
| Sprouts Farmers Market, Inc.* (Food & Staples Retailing) | | | 777 | | | | 12,145 | |
| Steel Dynamics, Inc. (Metals & Mining) | | | 721 | | | | 21,544 | |
| Stericycle, Inc.* (Commercial Services & Supplies) | | | 335 | | | | 20,997 | |
| Sterling Bancorp (Banks) | | | 1,327 | | | | 26,540 | |
| Stifel Financial Corp. (Capital Markets) | | | 228 | | | | 14,749 | |
| Synaptics, Inc.* (Semiconductors & Semiconductor Equipment) | | | 86 | | | | 5,735 | |
| SYNNEX Corp. (Electronic Equipment, Instruments & Components) | | | 268 | | | | 36,920 | |
| Synovus Financial Corp. (Banks) | | | 962 | | | | 33,689 | |
| Taubman Centers, Inc. (Equity Real Estate Investment Trusts) | | | 228 | | | | 6,024 | |
| TCF Financial Corp. (Banks) | | | 1,006 | | | | 42,534 | |
See accompanying notes to the financial statements.
90 :: Mid-Cap Value ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Tech Data Corp.* (Electronic Equipment, Instruments & Components) | | | 233 | | | $ | 33,538 | |
| TEGNA, Inc. (Media) | | | 1,425 | | | | 24,082 | |
| Telephone & Data Systems, Inc. (Wireless Telecommunication Services) | | | 642 | | | | 14,561 | |
| Tenet Healthcare Corp.* (Health Care Providers & Services) | | | 682 | | | | 21,578 | |
| Teradata Corp.* (IT Services) | | | 452 | | | | 11,002 | |
| Terex Corp. (Machinery) | | | 430 | | | | 10,901 | |
| Texas Capital Bancshares, Inc.* (Banks) | | | 330 | | | | 18,137 | |
| Texas Roadhouse, Inc.—Class A (Hotels, Restaurants & Leisure) | | | 210 | | | | 13,125 | |
| The Cheesecake Factory, Inc. (Hotels, Restaurants & Leisure) | | | 270 | | | | 10,368 | |
| The Chemours Co. (Chemicals) | | | 1,075 | | | | 14,910 | |
| The GEO Group, Inc. (Equity Real Estate Investment Trusts) | | | 798 | | | | 12,608 | |
| The Goodyear Tire & Rubber Co. (Auto Components) | | | 1,529 | | | | 20,076 | |
| The Hain Celestial Group, Inc.* (Food Products) | | | 529 | | | | 12,807 | |
| The Hanover Insurance Group, Inc. (Insurance) | | | 258 | | | | 35,754 | |
| The Macerich Co. (Equity Real Estate Investment Trusts) | | | 724 | | | | 16,152 | |
| The New York Times Co.—Class A (Media) | | | 322 | | | | 10,307 | |
| The Wendy's Co. (Hotels, Restaurants & Leisure) | | | 508 | | | | 11,008 | |
| Thor Industries, Inc. (Automobiles) | | | 362 | | | | 29,148 | |
| Toll Brothers, Inc. (Household Durables) | | | 423 | | | | 18,764 | |
| Tootsie Roll Industries, Inc. (Food Products) | | | 58 | | | | 1,978 | |
| Transocean, Ltd.* (Energy Equipment & Services) | | | 3,779 | | | | 17,232 | |
| TreeHouse Foods, Inc.* (Food Products) | | | 370 | | | | 16,502 | |
| TRI Pointe Group, Inc.* (Household Durables) | | | 915 | | | | 14,878 | |
| Trinity Industries, Inc. (Machinery) | | | 645 | | | | 13,113 | |
| TripAdvisor, Inc. (Interactive Media & Services) | | | 690 | | | | 18,851 | |
| Trustmark Corp. (Banks) | | | 421 | | | | 13,464 | |
| UGI Corp. (Gas Utilities) | | | 1,372 | | | | 57,062 | |
| UMB Financial Corp. (Banks) | | | 283 | | | | 18,808 | |
| Umpqua Holdings Corp. (Banks) | | | 1,447 | | | | 24,454 | |
| United Bankshares, Inc. (Banks) | | | 667 | | | | 22,878 | |
| United States Steel Corp.(a) (Metals & Mining) | | | 1,119 | | | | 10,149 | |
| United Therapeutics Corp.* (Biotechnology) | | | 288 | | | | 28,129 | |
| Urban Edge Properties (Equity Real Estate Investment Trusts) | | | 410 | | | | 7,540 | |
| Urban Outfitters, Inc.* (Specialty Retail) | | | 464 | | | | 11,878 | |
| Valley National Bancorp (Banks) | | | 2,573 | | | | 27,094 | |
| Valmont Industries, Inc. (Construction & Engineering) | | | 76 | | | | 10,797 | |
| Valvoline, Inc. (Chemicals) | | | 569 | | | | 11,995 | |
| ViaSat, Inc.* (Communications Equipment) | | | 186 | | | | 11,839 | |
| Vishay Intertechnology, Inc. (Electronic Equipment, Instruments & Components) | | | 870 | | | | 17,652 | |
| Visteon Corp.* (Auto Components) | | | 53 | | | | 4,230 | |
| Washington Federal, Inc. (Thrifts & Mortgage Finance) | | | 190 | | | | 6,460 | |
| Watsco, Inc. (Trading Companies & Distributors) | | | 106 | | | | 18,436 | |
| Webster Financial Corp. (Banks) | | | 603 | | | | 27,051 | |
| Weingarten Realty Investors (Equity Real Estate Investment Trusts) | | | 444 | | | | 12,920 | |
| Werner Enterprises, Inc. (Road & Rail) | | | 157 | | | | 5,787 | |
| Williams-Sonoma, Inc. (Specialty Retail) | | | 157 | | | | 11,003 | |
| Wintrust Financial Corp. (Banks) | | | 375 | | | | 23,730 | |
| World Fuel Services Corp. (Oil, Gas & Consumable Fuels) | | | 430 | | | | 16,822 | |
| World Wrestling Entertainment, Inc.— Class A (Entertainment) | | | 134 | | | | 6,550 | |
| Worthington Industries, Inc. (Metals & Mining) | | | 243 | | | | 8,938 | |
| WW International, Inc.* (Diversified Consumer Services) | | | 146 | | | | 4,815 | |
| Wyndham Destinations, Inc. (Hotels, Restaurants & Leisure) | | | 339 | | | | 16,452 | |
| XPO Logistics, Inc.* (Air Freight & Logistics) | | | 605 | | | | 53,797 | |
TOTAL COMMON STOCKS
(Cost $4,681,365) | | | | | | | 5,521,094 | |
Collateral for Securities Loaned (0.5%)
| BlackRock Liquidity Funds FedFund Portfolio—Institutional Shares, 1.81%(b) | | | 13,374 | | | | 13,374 | |
| Invesco Government & Agency Portfolio—Institutional Shares, 1.77%(b) | | | 4,098 | | | | 4,098 | |
| Fidelity Investments Money Market Government Portfolio—Class I, 1.80%(b) | | | 12,724 | | | | 12,724 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $30,196) | | | | | | | 30,196 | |
TOTAL INVESTMENT SECURITIES
(Cost $4,711,561)—100.5% | | | | | | | 5,551,290 | |
| Net other assets (liabilities)—(0.5)% | | | | | | | (29,309 | ) |
| NET ASSETS—100.0% | | | | | | $ | 5,521,981 | |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2020. The total value of securities on loan as of January 31, 2020 was $28,011. |
| (b) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2020. |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Mid-Cap Value ProFund :: 91
Mid-Cap Value ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 10,907 | | | | 0.2 | % |
| Air Freight & Logistics | | | 53,797 | | | | 1.0 | % |
| Airlines | | | 37,598 | | | | 0.7 | % |
| Auto Components | | | 106,766 | | | | 1.9 | % |
| Automobiles | | | 29,148 | | | | 0.5 | % |
| Banks | | | 772,096 | | | | 14.1 | % |
| Biotechnology | | | 28,129 | | | | 0.5 | % |
| Building Products | | | 46,672 | | | | 0.8 | % |
| Capital Markets | | | 133,351 | | | | 2.4 | % |
| Chemicals | | | 160,355 | | | | 2.9 | % |
| Commercial Services & Supplies | | | 80,120 | | | | 1.5 | % |
| Communications Equipment | | | 49,982 | | | | 0.9 | % |
| Construction & Engineering | | | 101,735 | | | | 1.8 | % |
| Consumer Finance | | | 51,514 | | | | 0.9 | % |
| Containers & Packaging | | | 83,273 | | | | 1.5 | % |
| Diversified Consumer Services | | | 85,454 | | | | 1.5 | % |
| Diversified Financial Services | | | 35,793 | | | | 0.6 | % |
| Electric Utilities | | | 141,101 | | | | 2.6 | % |
| Electrical Equipment | | | 97,007 | | | | 1.8 | % |
| Electronic Equipment, Instruments & Components | | | 213,203 | | | | 4.0 | % |
| Energy Equipment & Services | | | 46,785 | | | | 0.8 | % |
| Entertainment | | | 28,607 | | | | 0.5 | % |
| Equity Real Estate Investment Trusts | | | 681,754 | | | | 12.4 | % |
| Food & Staples Retailing | | | 28,622 | | | | 0.5 | % |
| Food Products | | | 135,161 | | | | 2.4 | % |
| Gas Utilities | | | 179,172 | | | | 3.2 | % |
| Health Care Equipment & Supplies | | | 69,281 | | | | 1.3 | % |
| Health Care Providers & Services | | | 137,618 | | | | 2.5 | % |
| Health Care Technology | | | 9,172 | | | | 0.2 | % |
| Hotels, Restaurants & Leisure | | | 126,325 | | | | 2.3 | % |
| Household Durables | | | 57,950 | | | | 1.0 | % |
| Insurance | | | 406,529 | | | | 7.5 | % |
| Interactive Media & Services | | | 18,851 | | | | 0.3 | % |
| Internet & Direct Marketing Retail | | | 14,241 | | | | 0.3 | % |
| IT Services | | | 84,317 | | | | 1.5 | % |
| Leisure Products | | | 50,452 | | | | 0.9 | % |
| Life Sciences Tools & Services | | | 14,076 | | | | 0.3 | % |
| Machinery | | | 137,830 | | | | 2.5 | % |
| Marine | | | 13,779 | | | | 0.2 | % |
| Media | | | 65,430 | | | | 1.2 | % |
| Metals & Mining | | | 73,145 | | | | 1.3 | % |
| Multiline Retail | | | 12,274 | | | | 0.2 | % |
| Multi-Utilities | | | 65,885 | | | | 1.2 | % |
| Oil, Gas & Consumable Fuels | | | 92,188 | | | | 1.7 | % |
| Paper & Forest Products | | | 19,723 | | | | 0.4 | % |
| Personal Products | | | 21,087 | | | | 0.4 | % |
| Pharmaceuticals | | | 28,998 | | | | 0.5 | % |
| Professional Services | | | 53,981 | | | | 1.0 | % |
| Real Estate Management & Development | | | 29,888 | | | | 0.5 | % |
| Road & Rail | | | 43,963 | | | | 0.8 | % |
| Semiconductors & Semiconductor Equipment | | | 73,609 | | | | 1.3 | % |
| Software | | | 79,467 | | | | 1.4 | % |
| Specialty Retail | | | 134,344 | | | | 2.4 | % |
| Technology Hardware, Storage & Peripherals | | | 16,084 | | | | 0.3 | % |
| Textiles, Apparel & Luxury Goods | | | 18,112 | | | | 0.3 | % |
| Thrifts & Mortgage Finance | | | 23,459 | | | | 0.4 | % |
| Trading Companies & Distributors | | | 63,339 | | | | 1.1 | % |
| Water Utilities | | | 33,034 | | | | 0.6 | % |
| Wireless Telecommunication Services | | | 14,561 | | | | 0.3 | % |
| Other** | | | 887 | | | | NM | |
| Total | | $ | 5,521,981 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
| NM | Not meaningful, amount is less than 0.05%. |
See accompanying notes to the financial statements.
92 :: Nasdaq-100 ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks (66.5%)
| | | Shares | | | Value | |
| Activision Blizzard, Inc. (Entertainment) | | | 5,665 | | | $ | 331,289 | |
| Adobe, Inc.* (Software) | | | 3,569 | | | | 1,253,218 | |
| Advanced Micro Devices, Inc.* (Semiconductors & Semiconductor Equipment) | | | 8,212 | | | | 385,964 | |
| Alexion Pharmaceuticals, Inc.* (Biotechnology) | | | 1,632 | | | | 162,204 | |
| Align Technology, Inc.* (Health Care Equipment & Supplies) | | | 581 | | | | 149,375 | |
| Alphabet, Inc.*—Class A (Interactive Media & Services) | | | 1,987 | | | | 2,846,934 | |
| Alphabet, Inc.*—Class C (Interactive Media & Services) | | | 1,986 | | | | 2,848,380 | |
| Amazon.com, Inc.* (Internet & Direct Marketing Retail) | | | 2,866 | | | | 5,756,993 | |
| American Airlines Group, Inc. (Airlines) | | | 3,230 | | | | 86,693 | |
| Amgen, Inc. (Biotechnology) | | | 4,381 | | | | 946,516 | |
| Analog Devices, Inc. (Semiconductors & Semiconductor Equipment) | | | 2,716 | | | | 298,081 | |
| ANSYS, Inc.* (Software) | | | 621 | | | | 170,359 | |
| Apple, Inc. (Technology Hardware, Storage & Peripherals) | | | 25,684 | | | | 7,949,455 | |
| Applied Materials, Inc. (Semiconductors & Semiconductor Equipment) | | | 6,811 | | | | 394,970 | |
| ASML Holding N.V.NYS(Semiconductors & Semiconductor Equipment) | | | 546 | | | | 153,240 | |
| Autodesk, Inc.* (Software) | | | 1,619 | | | | 318,700 | |
| Automatic Data Processing, Inc. (IT Services) | | | 3,191 | | | | 546,905 | |
| Baidu, Inc.*ADR (Interactive Media & Services) | | | 2,039 | | | | 251,939 | |
| Biogen, Inc.* (Biotechnology) | | | 1,331 | | | | 357,839 | |
| BioMarin Pharmaceutical, Inc.* (Biotechnology) | | | 1,324 | | | | 110,554 | |
| Booking Holdings, Inc.* (Internet & Direct Marketing Retail) | | | 309 | | | | 565,640 | |
| Broadcom, Inc. (Semiconductors & Semiconductor Equipment) | | | 2,925 | | | | 892,593 | |
| Cadence Design Systems, Inc.* (Software) | | | 2,069 | | | | 149,196 | |
| CDW Corp. (Electronic Equipment, Instruments & Components) | | | 1,059 | | | | 138,147 | |
| Cerner Corp. (Health Care Technology) | | | 2,316 | | | | 166,358 | |
| Charter Communications, Inc.*—Class A (Media) | | | 1,584 | | | | 819,657 | |
| Check Point Software Technologies, Ltd.* (Software) | | | 1,123 | | | | 128,370 | |
| Cintas Corp. (Commercial Services & Supplies) | | | 763 | | | | 212,855 | |
| Cisco Systems, Inc. (Communications Equipment) | | | 31,281 | | | | 1,437,988 | |
| Citrix Systems, Inc. (Software) | | | 960 | | | | 116,371 | |
| Cognizant Technology Solutions Corp. (IT Services) | | | 4,038 | | | | 247,852 | |
| Comcast Corp.—Class A (Media) | | | 33,475 | | | | 1,445,785 | |
| Copart, Inc.* (Commercial Services & Supplies) | | | 1,714 | | | | 173,902 | |
| CoStar Group, Inc.* (Professional Services) | | | 270 | | | | 176,307 | |
| Costco Wholesale Corp. (Food & Staples Retailing) | | | 3,258 | | | | 995,384 | |
| CSX Corp. (Road & Rail) | | | 5,769 | | | | 440,404 | |
| Dollar Tree, Inc.* (Multiline Retail) | | | 1,745 | | | | 151,937 | |
| eBay, Inc. (Internet & Direct Marketing Retail) | | | 5,999 | | | | 201,326 | |
| Electronic Arts, Inc.* (Entertainment) | | | 2,153 | | | | 232,352 | |
| Exelon Corp. (Electric Utilities) | | | 7,168 | | | | 341,125 | |
| Expedia Group, Inc. (Internet & Direct Marketing Retail) | | | 1,028 | | | | 111,487 | |
| Facebook, Inc.*—Class A (Interactive Media & Services) | | | 13,911 | | | | 2,808,770 | |
| Fastenal Co. (Trading Companies & Distributors) | | | 4,229 | | | | 147,508 | |
| Fiserv, Inc.* (IT Services) | | | 5,013 | | | | 594,592 | |
| Fox Corp.—Class A (Media) | | | 2,614 | | | | 96,927 | |
| Fox Corp.—Class B (Media) | | | 1,963 | | | | 71,316 | |
| Gilead Sciences, Inc. (Biotechnology) | | | 9,329 | | | | 589,593 | |
| IDEXX Laboratories, Inc.* (Health Care Equipment & Supplies) | | | 633 | | | | 171,549 | |
| Illumina, Inc.* (Life Sciences Tools & Services) | | | 1,084 | | | | 314,436 | |
| Incyte Corp.* (Biotechnology) | | | 1,588 | | | | 116,035 | |
| Intel Corp. (Semiconductors & Semiconductor Equipment) | | | 32,075 | | | | 2,050,555 | |
| Intuit, Inc. (Software) | | | 1,919 | | | | 538,049 | |
| Intuitive Surgical, Inc.* (Health Care Equipment & Supplies) | | | 852 | | | | 476,933 | |
| JD.com, Inc.*ADR (Internet & Direct Marketing Retail) | | | 6,835 | | | | 257,611 | |
| KLA Corp. (Semiconductors & Semiconductor Equipment) | | | 1,164 | | | | 192,921 | |
| Lam Research Corp. (Semiconductors & Semiconductor Equipment) | | | 1,070 | | | | 319,085 | |
| Liberty Global PLC*—Class A (Media) | | | 1,338 | | | | 27,456 | |
| Liberty Global PLC*—Class C (Media) | | | 3,235 | | | | 63,018 | |
| Lululemon Athletica, Inc.* (Textiles, Apparel & Luxury Goods) | | | 908 | | | | 217,366 | |
| Marriott International, Inc.—Class A (Hotels, Restaurants & Leisure) | | | 2,411 | | | | 337,685 | |
| Maxim Integrated Products, Inc. (Semiconductors & Semiconductor Equipment) | | | 1,995 | | | | 119,939 | |
| Mercadolibre, Inc.* (Internet & Direct Marketing Retail) | | | 367 | | | | 243,321 | |
| Microchip Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 1,762 | | | | 171,760 | |
| Micron Technology, Inc.* (Semiconductors & Semiconductor Equipment) | | | 8,163 | | | | 433,374 | |
| Microsoft Corp. (Software) | | | 44,098 | | | | 7,506,802 | |
| Mondelez International, Inc.—Class A (Food Products) | | | 10,617 | | | | 609,203 | |
| Monster Beverage Corp.* (Beverages) | | | 3,965 | | | | 264,069 | |
| NetApp, Inc. (Technology Hardware, Storage & Peripherals) | | | 1,683 | | | | 89,872 | |
| NetEase, Inc.ADR (Entertainment) | | | 538 | | | | 172,569 | |
| Netflix, Inc.* (Entertainment) | | | 3,232 | | | | 1,115,331 | |
| NVIDIA Corp. (Semiconductors & Semiconductor Equipment) | | | 4,513 | | | | 1,067,009 | |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Nasdaq-100 ProFund :: 93
Common Stocks, continued
| | | Shares | | | Value | |
| NXP Semiconductors N.V. (Semiconductors & Semiconductor Equipment) | | | 2,061 | | | $ | 261,458 | |
| O'Reilly Automotive, Inc.* (Specialty Retail) | | | 558 | | | | 226,604 | |
| PACCAR, Inc. (Machinery) | | | 2,550 | | | | 189,236 | |
| Paychex, Inc. (IT Services) | | | 2,639 | | | | 226,347 | |
| PayPal Holdings, Inc.* (IT Services) | | | 8,658 | | | | 986,061 | |
| PepsiCo, Inc. (Beverages) | | | 10,282 | | | | 1,460,250 | |
| Qualcomm, Inc. (Semiconductors & Semiconductor Equipment) | | | 8,420 | | | | 718,310 | |
| Regeneron Pharmaceuticals, Inc.* (Biotechnology) | | | 796 | | | | 269,000 | |
| Ross Stores, Inc. (Specialty Retail) | | | 2,667 | | | | 299,210 | |
| Seattle Genetics, Inc.* (Biotechnology) | | | 1,264 | | | | 137,005 | |
| Sirius XM Holdings, Inc. (Media) | | | 32,619 | | | | 230,616 | |
| Skyworks Solutions, Inc. (Semiconductors & Semiconductor Equipment) | | | 1,256 | | | | 142,116 | |
| Splunk, Inc.* (Software) | | | 1,116 | | | | 173,270 | |
| Starbucks Corp. (Hotels, Restaurants & Leisure) | | | 8,708 | | | | 738,699 | |
| Synopsys, Inc.* (Software) | | | 1,108 | | | | 163,441 | |
| Take-Two Interactive Software, Inc.* (Entertainment) | | | 836 | | | | 104,199 | |
| Tesla , Inc.* (Automobiles) | | | 1,329 | | | | 864,608 | |
| Texas Instruments, Inc. (Semiconductors & Semiconductor Equipment) | | | 6,893 | | | | 831,640 | |
| The Kraft Heinz Co. (Food Products) | | | 9,004 | | | | 262,917 | |
| T-Mobile U.S., Inc.* (Wireless Telecommunication Services) | | | 6,309 | | | | 499,610 | |
| Trip.com Group, Ltd.*ADR (Internet & Direct Marketing Retail) | | | 3,856 | | | | 123,893 | |
| Ulta Beauty, Inc.* (Specialty Retail) | | | 434 | | | | 116,273 | |
| United Airlines Holdings , Inc.* (Airlines) | | | 1,866 | | | | 139,577 | |
| VeriSign, Inc.* (IT Services) | | | 866 | | | | 180,249 | |
| Verisk Analytics, Inc.—Class A (Professional Services) | | | 1,208 | | | | 196,264 | |
| Vertex Pharmaceuticals, Inc.* (Biotechnology) | | | 1,896 | | | | 430,487 | |
| Walgreens Boots Alliance, Inc. (Food & Staples Retailing) | | | 6,581 | | | | 334,644 | |
| Western Digital Corp. (Technology Hardware, Storage & Peripherals) | | | 2,193 | | | | 143,642 | |
| Willis Towers Watson PLC (Insurance) | | | 948 | | | | 200,303 | |
| Workday, Inc.*—Class A (Software) | | | 1,209 | | | | 223,218 | |
| Xcel Energy, Inc. (Electric Utilities) | | | 3,954 | | | | 273,577 | |
| Xilinx, Inc. (Semiconductors & Semiconductor Equipment) | | | 1,854 | | | | 156,626 | |
TOTAL COMMON STOCKS
(Cost $24,220,562) | | | | | | | 66,952,648 | |
Repurchase Agreements(a)(b) (32.3%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $32,535,949 | | $ | 32,532,000 | | | $ | 32,532,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $32,532,000) | | | | | | | 32,532,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $56,752,562)—98.8% | | | | | | | 99,484,648 | |
| Net other assets (liabilities)—1.2% | | | | | | | 1,197,313 | |
| NET ASSETS—100.0% | | | | | | $ | 100,681,961 | |
| | | | | | | | | |
| * | Non-income producing security. |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $2,822,000. |
| ADR | American Depositary Receipt |
See accompanying notes to the financial statements.
94 :: Nasdaq-100 ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Futures Contracts Purchased
| | | Number
of
Contracts | | | Expiration
Date | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini Nasdaq-100 Futures Contracts | | 73 | | | 3/23/20 | | $ | 13,133,065 | | | $ | 736,496 | |
| | | | | | | | | | | | | | |
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Nasdaq-100 Index | | Goldman Sachs International | | 2/27/20 | | | | 2.14 | % | | $ | 7,218,924 | | | $ | (2,347 | ) |
| Nasdaq-100 Index | | UBS AG | | 2/27/20 | | | | 2.39 | % | | | 12,611,184 | | | | 53,538 | |
| | | | | | | | | | | | $ | 19,830,108 | | | $ | 51,191 | |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
Nasdaq-100 ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Airlines | | $ | 226,270 | | | | 0.2 | % |
| Automobiles | | | 864,608 | | | | 0.9 | % |
| Beverages | | | 1,724,319 | | | | 1.7 | % |
| Biotechnology | | | 3,119,233 | | | | 3.1 | % |
| Commercial Services & Supplies | | | 386,757 | | | | 0.4 | % |
| Communications Equipment | | | 1,437,988 | | | | 1.4 | % |
| Electric Utilities | | | 614,702 | | | | 0.6 | % |
| Electronic Equipment, Instruments & Components | | | 138,147 | | | | 0.1 | % |
| Entertainment | | | 1,955,740 | | | | 1.9 | % |
| Food & Staples Retailing | | | 1,330,028 | | | | 1.3 | % |
| Food Products | | | 872,120 | | | | 0.9 | % |
| Health Care Equipment & Supplies | | | 797,857 | | | | 0.8 | % |
| Health Care Technology | | | 166,358 | | | | 0.2 | % |
| Hotels, Restaurants & Leisure | | | 1,076,384 | | | | 1.1 | % |
| Insurance | | | 200,303 | | | | 0.2 | % |
| Interactive Media & Services | | | 8,756,022 | | | | 8.7 | % |
| Internet & Direct Marketing Retail | | | 7,260,270 | | | | 7.2 | % |
| IT Services | | | 2,782,006 | | | | 2.8 | % |
| Life Sciences Tools & Services | | | 314,436 | | | | 0.3 | % |
| Machinery | | | 189,236 | | | | 0.2 | % |
| Media | | | 2,754,775 | | | | 2.7 | % |
| Multiline Retail | | | 151,937 | | | | 0.2 | % |
| Professional Services | | | 372,571 | | | | 0.4 | % |
| Road & Rail | | | 440,405 | | | | 0.4 | % |
| Semiconductors & Semiconductor Equipment | | | 8,589,642 | | | | 8.5 | % |
| Software | | | 10,740,994 | | | | 10.8 | % |
| Specialty Retail | | | 642,087 | | | | 0.6 | % |
| Technology Hardware, Storage & Peripherals | | | 8,182,969 | | | | 8.1 | % |
| Textiles, Apparel & Luxury Goods | | | 217,366 | | | | 0.2 | % |
| Trading Companies & Distributors | | | 147,508 | | | | 0.1 | % |
| Wireless Telecommunication Services | | | 499,610 | | | | 0.5 | % |
| Other** | | | 33,729,313 | | | | 33.5 | % |
| Total | | $ | 100,681,961 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Oil & Gas UltraSector ProFund :: 95
Common Stocks (75.2%)
| | | Shares | | | Value | |
| Apache Corp. (Oil, Gas & Consumable Fuels) | | | 2,839 | | | $ | 77,902 | |
| Apergy Corp.* (Energy Equipment & Services) | | | 585 | | | | 15,128 | |
| Baker Hughes Co.—Class A (Energy Equipment & Services) | | | 4,907 | | | | 106,286 | |
| Cabot Oil & Gas Corp. (Oil, Gas & Consumable Fuels) | | | 3,082 | | | | 43,425 | |
| Cheniere Energy, Inc.* (Oil, Gas & Consumable Fuels) | | | 1,750 | | | | 103,670 | |
| Chesapeake Energy Corp.* (Oil, Gas & Consumable Fuels) | | | 8,857 | | | | 4,533 | |
| Chevron Corp. (Oil, Gas & Consumable Fuels) | | | 14,277 | | | | 1,529,639 | |
| Cimarex Energy Co. (Oil, Gas & Consumable Fuels) | | | 769 | | | | 33,751 | |
| Concho Resources, Inc. (Oil, Gas & Consumable Fuels) | | | 1,517 | | | | 114,958 | |
| ConocoPhillips (Oil, Gas & Consumable Fuels) | | | 8,285 | | | | 492,378 | |
| Continental Resources, Inc. (Oil, Gas & Consumable Fuels) | | | 646 | | | | 17,584 | |
| Core Laboratories N.V. (Energy Equipment & Services) | | | 335 | | | | 11,769 | |
| CVR Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 220 | | | | 7,614 | |
| Delek US Holdings, Inc. (Oil, Gas & Consumable Fuels) | | | 561 | | | | 15,405 | |
| Devon Energy Corp. (Oil, Gas & Consumable Fuels) | | | 2,923 | | | | 63,488 | |
| Diamondback Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 1,216 | | | | 90,470 | |
| EOG Resources, Inc. (Oil, Gas & Consumable Fuels) | | | 4,392 | | | | 320,221 | |
| EQT Corp. (Oil, Gas & Consumable Fuels) | | | 1,933 | | | | 11,695 | |
| Equitrans Midstream Corp. (Oil, Gas & Consumable Fuels) | | | 1,541 | | | | 14,901 | |
| Exxon Mobil Corp. (Oil, Gas & Consumable Fuels) | | | 31,949 | | | | 1,984,673 | |
| First Solar, Inc.* (Semiconductors & Semiconductor Equipment) | | | 573 | | | | 28,409 | |
| Halliburton Co. (Energy Equipment & Services) | | | 6,629 | | | | 144,577 | |
| Helmerich & Payne, Inc. (Energy Equipment & Services) | | | 818 | | | | 33,170 | |
| Hess Corp. (Oil, Gas & Consumable Fuels) | | | 1,956 | | | | 110,651 | |
| HollyFrontier Corp. (Oil, Gas & Consumable Fuels) | | | 1,121 | | | | 50,355 | |
| Kinder Morgan, Inc. (Oil, Gas & Consumable Fuels) | | | 14,709 | | | | 306,977 | |
| Marathon Oil Corp. (Oil, Gas & Consumable Fuels) | | | 6,043 | | | | 68,709 | |
| Marathon Petroleum Corp. (Oil, Gas & Consumable Fuels) | | | 4,903 | | | | 267,214 | |
| Matador Resources Co.* (Oil, Gas & Consumable Fuels) | | | 829 | | | | 12,161 | |
| Murphy Oil Corp. (Oil, Gas & Consumable Fuels) | | | 1,128 | | | | 23,643 | |
| National Oilwell Varco, Inc. (Energy Equipment & Services) | | | 2,914 | | | | 60,058 | |
| Noble Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 3,612 | | | | 71,409 | |
| Occidental Petroleum Corp. (Oil, Gas & Consumable Fuels) | | | 6,745 | | | | 267,911 | |
| OGE Energy Corp. (Electric Utilities) | | | 1,512 | | | | 69,325 | |
| ONEOK, Inc. (Oil, Gas & Consumable Fuels) | | | 3,119 | | | | 233,520 | |
| Ovintiv, Inc. (Oil, Gas & Consumable Fuels) | | | 1,953 | | | | 30,525 | |
| Parsley Energy, Inc.—Class A (Oil, Gas & Consumable Fuels) | | | 2,125 | | | | 35,360 | |
| Patterson-UTI Energy, Inc. (Energy Equipment & Services) | | | 1,471 | | | | 11,680 | |
| PBF Energy, Inc.—Class A (Oil, Gas & Consumable Fuels) | | | 769 | | | | 20,994 | |
| Phillips 66 (Oil, Gas & Consumable Fuels) | | | 3,355 | | | | 306,546 | |
| Pioneer Natural Resources Co. (Oil, Gas & Consumable Fuels) | | | 1,250 | | | | 168,750 | |
| Schlumberger, Ltd. (Energy Equipment & Services) | | | 10,454 | | | | 350,313 | |
| Targa Resources Corp. (Oil, Gas & Consumable Fuels) | | | 1,758 | | | | 64,167 | |
| TechnipFMC PLC (Energy Equipment & Services) | | | 3,174 | | | | 52,403 | |
| The Williams Cos., Inc. (Oil, Gas & Consumable Fuels) | | | 9,154 | | | | 189,396 | |
| Transocean, Ltd.* (Energy Equipment & Services) | | | 4,345 | | | | 19,813 | |
| Valero Energy Corp. (Oil, Gas & Consumable Fuels) | | | 3,101 | | | | 261,445 | |
| World Fuel Services Corp. (Oil, Gas & Consumable Fuels) | | | 494 | | | | 19,325 | |
| WPX Energy, Inc.* (Oil, Gas & Consumable Fuels) | | | 3,150 | | | | 37,643 | |
TOTAL COMMON STOCKS
(Cost $4,021,190) | | | | | | | 8,375,939 | |
Repurchase Agreements(a)(b) (28.0%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $3,123,379 | | $ | 3,123,000 | | | $ | 3,123,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $3,123,000) | | | | | | | 3,123,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $7,144,190)—103.2% | | | | | | | 11,498,939 | |
| Net other assets (liabilities)—(3.2)% | | | | | | | (361,380 | ) |
| NET ASSETS—100.0% | | | | | | $ | 11,137,559 | |
| | | | | | | | | |
| * | Non-income producing security. |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $2,348,000. |
See accompanying notes to the financial statements.
96 :: Oil & Gas UltraSector ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Dow Jones U.S. Oil & Gas Index | | Goldman Sachs International | | 2/24/20 | | | | 2.09 | % | | $ | 4,214,908 | | | $ | (304,160 | ) |
| Dow Jones U.S. Oil & Gas Index | | UBS AG | | 2/24/20 | | | | 1.59 | % | | | 4,098,929 | | | | (296,497 | ) |
| | | | | | | | | | | | $ | 8,313,837 | | | $ | (600,657 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
Oil & Gas UltraSector ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Electric Utilities | | $ | 69,325 | | | | 0.6 | % |
| Energy Equipment & Services | | | 805,197 | | | | 7.2 | % |
| Oil, Gas & Consumable Fuels | | | 7,473,008 | | | | 67.1 | % |
Semiconductors & Semiconductor
Equipment | | | 28,409 | | | | 0.3 | % |
| Other** | | | 2,761,620 | | | | 24.8 | % |
| Total | | $ | 11,137,559 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Oil Equipment & Services UltraSector ProFund :: 97
Common Stocks (85.3%)
| | | Shares | | | Value | |
| Apergy Corp.* (Energy Equipment & Services) | | | 5,668 | | | $ | 146,574 | |
| Archrock, Inc. (Energy Equipment & Services) | | | 9,337 | | | | 77,964 | |
| Baker Hughes Co.—Class A (Energy Equipment & Services) | | | 9,423 | | | | 204,102 | |
| Cactus, Inc.—Class A (Energy Equipment & Services) | | | 3,444 | | | | 99,256 | |
| Core Laboratories N.V. (Energy Equipment & Services) | | | 3,248 | | | | 114,102 | |
| Diamond Offshore Drilling, Inc.*(a) (Energy Equipment & Services) | | | 4,731 | | | | 21,905 | |
| DMC Global, Inc. (Machinery) | | | 1,070 | | | | 44,758 | |
| Dril-Quip, Inc.* (Energy Equipment & Services) | | | 2,648 | | | | 108,303 | |
| Frank's International N.V.* (Energy Equipment & Services) | | | 7,423 | | | | 25,981 | |
| Halliburton Co. (Energy Equipment & Services) | | | 38,635 | | | | 842,629 | |
| Helix Energy Solutions Group, Inc.* (Energy Equipment & Services) | | | 10,342 | | | | 86,252 | |
| Helmerich & Payne, Inc. (Energy Equipment & Services) | | | 5,139 | | | | 208,386 | |
| Liberty Oilfield Services, Inc. (Energy Equipment & Services) | | | 3,772 | | | | 31,987 | |
| Matrix Service Co.* (Energy Equipment & Services) | | | 1,987 | | | | 39,978 | |
| Nabors Industries, Ltd. (Energy Equipment & Services) | | | 24,724 | | | | 51,179 | |
| National Oilwell Varco, Inc. (Energy Equipment & Services) | | | 9,039 | | | | 186,294 | |
| Newpark Resources, Inc.* (Energy Equipment & Services) | | | 6,563 | | | | 32,815 | |
| NexTier Oilfield Solutions, Inc.* (Energy Equipment & Services) | | | 11,531 | | | | 59,385 | |
| Noble Corp. PLC* (Energy Equipment & Services) | | | 18,224 | | | | 14,721 | |
| Oceaneering International, Inc.* (Energy Equipment & Services) | | | 7,239 | | | | 89,836 | |
| Oil States International, Inc.* (Energy Equipment & Services) | | | 4,426 | | | | 47,712 | |
| Patterson-UTI Energy, Inc. (Energy Equipment & Services) | | | 14,232 | | | | 113,002 | |
| ProPetro Holding Corp.* (Energy Equipment & Services) | | | 6,022 | | | | 58,654 | |
| Schlumberger, Ltd. (Energy Equipment & Services) | | | 27,831 | | | | 932,618 | |
| SEACOR Holdings, Inc.* (Energy Equipment & Services) | | | 1,286 | | | | 48,341 | |
| Select Energy Services, Inc.* (Energy Equipment & Services) | | | 4,587 | | | | 31,926 | |
| TechnipFMC PLC (Energy Equipment & Services) | | | 11,052 | | | | 182,469 | |
| Tidewater, Inc.* (Energy Equipment & Services) | | | 2,870 | | | | 43,567 | |
| Transocean, Ltd.* (Energy Equipment & Services) | | | 37,824 | | | | 172,477 | | |
| U.S. Silica Holdings, Inc. (Energy Equipment & Services) | | | 5,382 | | | | 27,663 | | |
| Valaris PLC(a) (Energy Equipment & Services) | | | 14,475 | | | | 73,967 | | |
TOTAL COMMON STOCKS
(Cost $4,002,622) | | | | | 4,218,803 | | |
Repurchase Agreements(b)(c) (24.0%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $1,185,144 | | $ | 1,185,000 | | | $ | 1,185,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $1,185,000) | | | | | | | 1,185,000 | |
Collateral for Securities Loaned (0.6%)
| | | Shares | | | Value | |
| BlackRock Liquidity Funds FedFund Portfolio—Institutional Shares, 1.81%(d) | | | 12,246 | | | $ | 12,246 | |
| Invesco Government & Agency Portfolio—Institutional Shares, 1.77%(d) | | | 3,752 | | | | 3,752 | |
| Fidelity Investments Money Market Government Portfolio—Class I, 1.80%(d) | | | 11,650 | | | | 11,650 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $27,648) | | | | | | | 27,648 | |
TOTAL INVESTMENT SECURITIES
(Cost $5,215,270)—109.9% | | | | | | | 5,431,451 | |
| Net other assets (liabilities)—(9.9)% | | | | | | | (490,984 | ) |
| NET ASSETS—100.0% | | | | | | $ | 4,940,467 | |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2020. The total value of securities on loan as of January 31, 2020 was $25,634. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (c) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $1,005,000. |
| (d) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2020. |
See accompanying notes to the financial statements.
98 :: Oil Equipment & Services UltraSector ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Dow Jones U.S. Select Oil Equipment & Services Index | | Goldman Sachs International | | | 2/24/20 | | | | 2.09 | % | | $ | 1,338,320 | | | $ | (146,074 | ) |
| Dow Jones U.S. Select Oil Equipment & Services Index | | UBS AG | | | 2/24/20 | | | | 1.94 | % | | | 1,846,397 | | | | (181,760 | ) |
| | | | | | | | | | | | | $ | 3,184,717 | | | $ | (327,834 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
Oil Equipment & Services UltraSector ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Energy Equipment & Services | | $ | 4,174,045 | | | | 84.4 | % |
| Machinery | | | 44,758 | | | | 0.9 | % |
| Other** | | | 721,664 | | | | 14.7 | % |
| Total | | $ | 4,940,467 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Pharmaceuticals UltraSector ProFund :: 99
Common Stocks (82.7%)
| | | Shares | | | Value | |
| Aerie Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 667 | | | $ | 13,660 | |
| Akorn, Inc.* (Pharmaceuticals) | | | 1,513 | | | | 2,315 | |
| Allergan PLC (Pharmaceuticals) | | | 937 | | | | 174,882 | |
| AMAG Pharmaceuticals, Inc.* (Biotechnology) | | | 541 | | | | 4,793 | |
| Amicus Therapeutics, Inc.* (Biotechnology) | | | 4,074 | | | | 36,014 | |
| Amneal Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 1,758 | | | | 7,893 | |
| Amphastar Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 548 | | | | 10,363 | |
| Arvinas, Inc.* (Pharmaceuticals) | | | 243 | | | | 11,776 | |
| Axsome Therapeutics, Inc.* (Pharmaceuticals) | | | 427 | | | | 37,072 | |
| Bristol-Myers Squibb Co. (Pharmaceuticals) | | | 2,803 | | | | 176,449 | |
| Cara Therapeutics, Inc.* (Biotechnology) | | | 671 | | | | 10,803 | |
| Catalent, Inc.* (Pharmaceuticals) | | | 2,341 | | | | 143,035 | |
| Catalyst Pharmaceuticals, Inc.* (Biotechnology) | | | 1,530 | | | | 6,288 | |
| Corcept Therapeutics, Inc.* (Pharmaceuticals) | | | 1,644 | | | | 20,829 | |
| Dermira, Inc.* (Pharmaceuticals) | | | 749 | | | | 14,194 | |
| Elanco Animal Health, Inc.* (Pharmaceuticals) | | | 5,965 | | | | 184,319 | |
| Eli Lilly & Co. (Pharmaceuticals) | | | 1,449 | | | | 202,338 | |
| Endo International PLC* (Pharmaceuticals) | | | 3,226 | | | | 18,291 | |
| Horizon Therapeutics PLC* (Pharmaceuticals) | | | 2,996 | | | | 103,332 | |
| Innoviva, Inc.* (Pharmaceuticals) | | | 1,069 | | | | 14,758 | |
| Intersect ENT, Inc.* (Pharmaceuticals) | | | 503 | | | | 12,998 | |
| Intra-Cellular Therapies, Inc.* (Pharmaceuticals) | | | 733 | | | | 16,632 | |
| Ironwood Pharmaceuticals, Inc.* (Biotechnology) | | | 2,507 | | | | 30,285 | |
| Jazz Pharmaceuticals PLC* (Pharmaceuticals) | | | 905 | | | | 129,732 | |
| Johnson & Johnson (Pharmaceuticals) | | | 6,202 | | | | 923,291 | |
| Madrigal Pharmaceuticals, Inc.* (Biotechnology) | | | 130 | | | | 10,793 | |
| Merck & Co., Inc. (Pharmaceuticals) | | | 8,593 | | | | 734,186 | |
| Mylan N.V.* (Pharmaceuticals) | | | 8,253 | | | | 176,779 | |
| Myokardia, Inc.* (Pharmaceuticals) | | | 738 | | | | 50,206 | |
| Omeros Corp.*(a) (Pharmaceuticals) | | | 805 | | | | 10,272 | |
| Pacira BioSciences, Inc.* (Pharmaceuticals) | | | 668 | | | | 28,871 | |
| Perrigo Co. PLC (Pharmaceuticals) | | | 2,176 | | | | 124,119 | |
| Pfizer, Inc. (Pharmaceuticals) | | | 4,576 | | | | 170,410 | |
| Phibro Animal Health Corp.—Class A (Pharmaceuticals) | | | 324 | | | | 7,685 | |
| Prestige Consumer Healthcare, Inc.* (Pharmaceuticals) | | | 802 | | | | 32,529 | |
| Reata Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 409 | | | | 89,485 | |
| Revance Therapeutics, Inc.* (Pharmaceuticals) | | | 679 | | | | 15,189 | |
| Spectrum Pharmaceuticals, Inc.* (Biotechnology) | | | 1,805 | | | | 4,567 | |
| TherapeuticsMD, Inc.*(a) (Pharmaceuticals) | | | 3,553 | | | | 7,994 | |
| Theravance Biopharma, Inc.* (Pharmaceuticals) | | | 690 | | | | 19,237 | |
| Tricida, Inc.* (Pharmaceuticals) | | | 429 | | | | 15,127 | |
| Vanda Pharmaceuticals, Inc.* (Biotechnology) | | | 852 | | | | 10,863 | |
| WaVe Life Sciences, Ltd.*(a) (Pharmaceuticals) | | | 278 | | | | 1,974 | |
| Zoetis, Inc. (Pharmaceuticals) | | | 1,415 | | | | 189,907 | |
| Zogenix, Inc.* (Pharmaceuticals) | | | 666 | | | | 33,546 | |
TOTAL COMMON STOCKS
(Cost $2,809,211) | | | | | | | 4,040,081 | |
Repurchase Agreements(b)(c) (18.9%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $926,112 | | $ | 926,000 | | | $ | 926,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $926,000) | | | | | | | 926,000 | |
Collateral for Securities Loaned (0.4%)
| | | Shares | | | Value | |
| BlackRock Liquidity Funds FedFund Portfolio—Institutional Shares, 1.81%(d) | | | 9,042 | | | $ | 9,042 | |
| Invesco Government & Agency Portfolio—Institutional Shares, 1.77%(d) | | | 2,771 | | | | 2,771 | |
| Fidelity Investments Money Market Government Portfolio—Class I, 1.80%(d) | | | 8,602 | | | | 8,602 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $20,415) | | | | | | | 20,415 | |
TOTAL INVESTMENT SECURITIES
(Cost $3,755,626)—102.0% | | | | | | | 4,986,496 | |
| Net other assets (liabilities)—(2.0)% | | | | | | | (97,374 | ) |
| NET ASSETS—100.0% | | | | | | $ | 4,889,122 | |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2020. The total value of securities on loan as of January 31, 2020 was $17,511. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (c) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $610,000. |
| (d) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2020. |
See accompanying notes to the financial statements.
100 :: Pharmaceuticals UltraSector ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Dow Jones U.S. Select Pharmaceuticals Index | | Goldman Sachs International | | | 2/24/20 | | | | 2.09 | % | | $ | 1,421,914 | | | $ | (52,830 | ) |
| Dow Jones U.S. Select Pharmaceuticals Index | | UBS AG | | | 2/24/20 | | | | 1.94 | % | | | 1,869,693 | | | | (53,357 | ) |
| | | | | | | | | | | | | $ | 3,291,607 | | | $ | (106,187 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
Pharmaceuticals UltraSector ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Biotechnology | | $ | 114,406 | | | | 2.3 | % |
| Pharmaceuticals | | | 3,925,675 | | | | 80.4 | % |
| Other** | | | 849,041 | | | | 17.3 | % |
| Total | | $ | 4,889,122 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Precious Metals UltraSector ProFund :: 101
Common Stocks (77.3%)
| | | Shares | | | Value | |
| Agnico Eagle Mines, Ltd. (Metals & Mining) | | | 36,637 | | | $ | 2,264,899 | |
| Alamos Gold, Inc. (Metals & Mining) | | | 59,752 | | | | 376,438 | |
| AngloGold Ashanti, Ltd.ADR (Metals & Mining) | | | 63,000 | | | | 1,282,680 | |
| B2Gold Corp. (Metals & Mining) | | | 156,674 | | | | 676,832 | |
| Barrick Gold Corp.ADR (Metals & Mining) | | | 271,534 | | | | 5,028,810 | |
| Coeur Mining, Inc.* (Metals & Mining) | | | 36,739 | | | | 221,536 | |
| Companhia de Minas Buenaventura S.A.ADR(Metals & Mining) | | | 34,428 | | | | 445,154 | |
| Eldorado Gold Corp.* (Metals & Mining) | | | 24,262 | | | | 176,627 | |
| First Majestic Silver Corp.*(a) (Metals & Mining) | | | 27,222 | | | | 274,126 | |
| Fortuna Silver Mines, Inc.* (Metals & Mining) | | | 24,484 | | | | 95,977 | |
| Franco-Nevada Corp. (Metals & Mining) | | | 28,803 | | | | 3,273,173 | |
| Gold Fields, Ltd.ADR (Metals & Mining) | | | 125,481 | | | | 803,078 | |
| Harmony Gold Mining Co., Ltd.*ADR(Metals & Mining) | | | 70,812 | | | | 237,928 | |
| Hecla Mining Co. (Metals & Mining) | | | 75,689 | | | | 229,338 | |
| IAMGOLD Corp.* (Metals & Mining) | | | 71,480 | | | | 211,581 | |
| Kinross Gold Corp.* (Metals & Mining) | | | 191,443 | | | | 970,616 | |
| Kirkland Lake Gold, Ltd. (Metals & Mining) | | | 29,213 | | | | 1,201,531 | |
| McEwen Mining, Inc. (Metals & Mining) | | | 47,626 | | | | 54,770 | |
| Newmont Corp. (Metals & Mining) | | | 125,219 | | | | 5,642,368 | |
| Novagold Resources, Inc.* (Metals & Mining) | | | 36,438 | | | | 332,315 | |
| Osisko Gold Royalties, Ltd. (Metals & Mining) | | | 21,893 | | | | 218,492 | |
| Pan American Silver Corp. (Metals & Mining) | | | 32,016 | | | | 735,728 | |
| Pretium Resources, Inc.* (Metals & Mining) | | | 28,309 | | | | 308,285 | |
| Royal Gold, Inc. (Metals & Mining) | | | 10,018 | | | | 1,155,276 | |
| Sandstorm Gold, Ltd.* (Metals & Mining) | | | 26,799 | | | | 183,841 | |
| Seabridge Gold, Inc.*(a) (Metals & Mining) | | | 7,636 | | | | 106,369 | |
| Sibanye Gold, Ltd.*ADR (Metals & Mining) | | | 81,309 | | | | 829,352 | |
| SSR Mining, Inc.* (Metals & Mining) | | | 18,785 | | | | 343,953 | |
| Wheaton Precious Metals Corp. (Metals & Mining) | | | 68,305 | | | | 2,011,582 | |
| Yamana Gold, Inc. (Metals & Mining) | | | 145,169 | | | | 590,838 | |
TOTAL COMMON STOCKS
(Cost $17,584,594) | | | | | | | 30,283,493 | |
Repurchase Agreements(b)(c) (20.9%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $8,163,991 | | $ | 8,163,000 | | | $ | 8,163,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $8,163,000) | | | | | | | 8,163,000 | |
| | | | | | | | | |
Collateral for Securities Loaned (0.4%)
| | | Shares | | | Value | |
| BlackRock Liquidity Funds FedFund Portfolio—Institutional Shares, 1.81%(d) | | | 62,679 | | | $ | 62,679 | |
| Invesco Government & Agency Portfolio—Institutional Shares, 1.77%(d) | | | 19,205 | | | | 19,205 | |
| Fidelity Investments Money Market Government Portfolio—Class I, 1.80%(d) | | | 59,633 | | | | 59,633 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $141,517) | | | | | | | 141,517 | |
TOTAL INVESTMENT SECURITIES
(Cost $25,889,111)—98.6% | | | | | | | 38,588,010 | |
| Net other assets (liabilities)—1.4% | | | | | | | 548,352 | |
| NET ASSETS—100.0% | | | | | | $ | 39,136,362 | |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2020. The total value of securities on loan as of January 31, 2020 was $138,599. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (c) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $3,771,000. |
| (d) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2020. |
| ADR | American Depositary Receipt |
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Dow Jones Precious Metals Index | | Goldman Sachs International | | | 2/24/20 | | | | 2.09 | % | | $ | 12,696,681 | | | $ | 189,473 | |
| Dow Jones Precious Metals Index | | UBS AG | | | 2/24/20 | | | | 2.34 | % | | | 15,756,581 | | | | 263,606 | |
| | | | | | | | | | | | | $ | 28,453,262 | | | $ | 453,079 | |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
102 :: Precious Metals UltraSector ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Precious Metals UltraSector ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Metals & Mining | | $ | 30,283,493 | | | | 77.3 | % |
| Other** | | | 8,852,869 | | | | 22.7 | % |
| Total | | $ | 39,136,362 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Real Estate UltraSector ProFund :: 103
Common Stocks (71.6%)
| | | Shares | | | Value | |
| Acadia Realty Trust (Equity Real Estate Investment Trusts) | | | 593 | | | $ | 14,718 | |
| AGNC Investment Corp. (Mortgage Real Estate Investment Trusts) | | | 3,692 | | | | 68,635 | |
| Alexandria Real Estate Equities, Inc. (Equity Real Estate Investment Trusts) | | | 786 | | | | 128,275 | |
| American Campus Communities, Inc. (Equity Real Estate Investment Trusts) | | | 937 | | | | 42,980 | |
| American Homes 4 Rent—Class A (Equity Real Estate Investment Trusts) | | | 1,740 | | | | 47,554 | |
| American Tower Corp. (Equity Real Estate Investment Trusts) | | | 3,022 | | | | 700,317 | |
| Americold Realty Trust (Equity Real Estate Investment Trusts) | | | 1,309 | | | | 45,121 | |
| Annaly Capital Management, Inc. (Mortgage Real Estate Investment Trusts) | | | 9,761 | | | | 95,268 | |
| Apartment Investment & Management Co. (Equity Real Estate Investment Trusts) | | | 1,015 | | | | 53,501 | |
| Apple Hospitality REIT, Inc. (Equity Real Estate Investment Trusts) | | | 1,438 | | | | 21,599 | |
| AvalonBay Communities, Inc. (Equity Real Estate Investment Trusts) | | | 953 | | | | 206,506 | |
| Blackstone Mortgage Trust, Inc.—Class A (Mortgage Real Estate Investment Trusts) | | | 917 | | | | 35,029 | |
| Boston Properties, Inc. (Equity Real Estate Investment Trusts) | | | 981 | | | | 140,626 | |
| Brandywine Realty Trust (Equity Real Estate Investment Trusts) | | | 1,204 | | | | 18,806 | |
| Brixmor Property Group, Inc. (Equity Real Estate Investment Trusts) | | | 2,032 | | | | 40,559 | |
| Camden Property Trust (Equity Real Estate Investment Trusts) | | | 661 | | | | 74,316 | |
| CBRE Group, Inc.*—Class A (Real Estate Management & Development) | | | 2,284 | | | | 139,438 | |
| Chimera Investment Corp. (Mortgage Real Estate Investment Trusts) | | | 1,277 | | | | 27,072 | |
| Colony Capital, Inc. (Equity Real Estate Investment Trusts) | | | 3,324 | | | | 15,523 | |
| Columbia Property Trust, Inc. (Equity Real Estate Investment Trusts) | | | 798 | | | | 16,838 | |
| Corecivic, Inc. (Equity Real Estate Investment Trusts) | | | 813 | | | | 12,967 | |
| CoreSite Realty Corp. (Equity Real Estate Investment Trusts) | | | 258 | | | | 30,302 | |
| Corporate Office Properties Trust (Equity Real Estate Investment Trusts) | | | 765 | | | | 22,774 | |
| CoStar Group, Inc.* (Professional Services) | | | 250 | | | | 163,248 | |
| Cousins Properties, Inc. (Equity Real Estate Investment Trusts) | | | 1,002 | | | | 41,012 | |
| Crown Castle International Corp. (Equity Real Estate Investment Trusts) | | | 2,837 | | | | 425,096 | |
| CubeSmart (Equity Real Estate Investment Trusts) | | | 1,321 | | | | 41,836 | |
| CyrusOne, Inc. (Equity Real Estate Investment Trusts) | | | 774 | | | | 47,098 | |
| DiamondRock Hospitality Co. (Equity Real Estate Investment Trusts) | | | 1,368 | | | | 13,229 | |
| Digital Realty Trust, Inc. (Equity Real Estate Investment Trusts) | | | 1,424 | | | | 175,138 | |
| Diversified Healthcare Trust (Equity Real Estate Investment Trusts) | | | 1,625 | | | | 12,545 | |
| Douglas Emmett, Inc. (Equity Real Estate Investment Trusts) | | | 1,125 | | | | 46,688 | |
| Duke Realty Corp. (Equity Real Estate Investment Trusts) | | | 2,509 | | | | 91,102 | |
| EastGroup Properties, Inc. (Equity Real Estate Investment Trusts) | | | 262 | | | | 35,650 | |
| EPR Properties (Equity Real Estate Investment Trusts) | | | 536 | | | | 38,254 | |
| Equinix, Inc. (Equity Real Estate Investment Trusts) | | | 581 | | | | 342,633 | |
| Equity Commonwealth (Equity Real Estate Investment Trusts) | | | 834 | | | | 27,330 | |
| Equity LifeStyle Properties, Inc. (Equity Real Estate Investment Trusts) | | | 1,242 | | | | 90,356 | |
| Equity Residential (Equity Real Estate Investment Trusts) | | | 2,383 | | | | 197,980 | |
| Essex Property Trust, Inc. (Equity Real Estate Investment Trusts) | | | 451 | | | | 139,702 | |
| Extra Space Storage, Inc. (Equity Real Estate Investment Trusts) | | | 885 | | | | 97,952 | |
| Federal Realty Investment Trust (Equity Real Estate Investment Trusts) | | | 479 | | | | 59,885 | |
| First Industrial Realty Trust, Inc. (Equity Real Estate Investment Trusts) | | | 867 | | | | 37,021 | |
| Gaming & Leisure Properties, Inc. (Equity Real Estate Investment Trusts) | | | 1,392 | | | | 65,779 | |
| Healthcare Realty Trust, Inc. (Equity Real Estate Investment Trusts) | | | 912 | | | | 32,887 | |
| Healthcare Trust of America, Inc.—Class A (Equity Real Estate Investment Trusts) | | | 1,414 | | | | 45,290 | |
| Healthpeak Properties, Inc. (Equity Real Estate Investment Trusts) | | | 3,377 | | | | 121,538 | |
| Highwoods Properties, Inc. (Equity Real Estate Investment Trusts) | | | 707 | | | | 35,428 | |
| Host Hotels & Resorts, Inc. (Equity Real Estate Investment Trusts) | | | 4,895 | | | | 79,984 | |
| Hudson Pacific Properties, Inc. (Equity Real Estate Investment Trusts) | | | 1,057 | | | | 38,411 | |
| Invesco Mortgage Capital, Inc. (Mortgage Real Estate Investment Trusts) | | | 976 | | | | 17,070 | |
| Invitation Homes, Inc. (Equity Real Estate Investment Trusts) | | | 3,674 | | | | 115,621 | |
| Iron Mountain, Inc. (Equity Real Estate Investment Trusts) | | | 1,960 | | | | 61,956 | |
| JBG Smith Properties (Equity Real Estate Investment Trusts) | | | 806 | | | | 32,683 | |
| Jones Lang LaSalle, Inc. (Real Estate Management & Development) | | | 351 | | | | 59,607 | |
| Kilroy Realty Corp. (Equity Real Estate Investment Trusts) | | | 665 | | | | 54,909 | |
| Kimco Realty Corp. (Equity Real Estate Investment Trusts) | | | 2,882 | | | | 54,902 | |
| Lamar Advertising Co.—Class A (Equity Real Estate Investment Trusts) | | | 588 | | | | 54,572 | |
| Lexington Realty Trust (Equity Real Estate Investment Trusts) | | | 1,693 | | | | 18,742 | |
| Liberty Property Trust (Equity Real Estate Investment Trusts) | | | 1,077 | | | | 67,474 | |
| Life Storage, Inc. (Equity Real Estate Investment Trusts) | | | 317 | | | | 35,878 | |
See accompanying notes to the financial statements.
104 :: Real Estate UltraSector ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Mack-Cali Realty Corp. (Equity Real Estate Investment Trusts) | | | 618 | | | $ | 13,571 | |
| Medical Properties Trust, Inc. (Equity Real Estate Investment Trusts) | | | 3,532 | | | | 78,234 | |
| MFA Financial, Inc. (Mortgage Real Estate Investment Trusts) | | | 3,084 | | | | 24,055 | |
| Mid-America Apartment Communities, Inc. (Equity Real Estate Investment Trusts) | | | 777 | | | | 106,612 | |
| National Health Investors, Inc. (Equity Real Estate Investment Trusts) | | | 300 | | | | 25,314 | |
| National Retail Properties, Inc. (Equity Real Estate Investment Trusts) | | | 1,171 | | | | 65,576 | |
| New Residential Investment Corp. (Mortgage Real Estate Investment Trusts) | | | 2,837 | | | | 47,491 | |
| Omega Healthcare Investors, Inc. (Equity Real Estate Investment Trusts) | | | 1,491 | | | | 62,547 | |
| Outfront Media, Inc. (Equity Real Estate Investment Trusts) | | | 980 | | | | 29,145 | |
| Paramount Group, Inc. (Equity Real Estate Investment Trusts) | | | 1,376 | | | | 19,347 | |
| Park Hotels & Resorts, Inc. (Equity Real Estate Investment Trusts) | | | 1,633 | | | | 35,828 | |
| Pebblebrook Hotel Trust (Equity Real Estate Investment Trusts) | | | 892 | | | | 21,158 | |
| Physicians Realty Trust (Equity Real Estate Investment Trusts) | | | 1,266 | | | | 24,497 | |
| Piedmont Office Realty Trust, Inc.—Class A (Equity Real Estate Investment Trusts) | | | 860 | | | | 19,943 | |
| PotlatchDeltic Corp. (Equity Real Estate Investment Trusts) | | | 458 | | | | 19,694 | |
| Prologis, Inc. (Equity Real Estate Investment Trusts) | | | 4,311 | | | | 400,406 | |
| PS Business Parks, Inc. (Equity Real Estate Investment Trusts) | | | 137 | | | | 22,956 | |
| Public Storage (Equity Real Estate Investment Trusts) | | | 1,025 | | | | 229,354 | |
| Rayonier, Inc. (Equity Real Estate Investment Trusts) | | | 883 | | | | 26,826 | |
| Realty Income Corp. (Equity Real Estate Investment Trusts) | | | 2,224 | | | | 174,384 | |
| Regency Centers Corp. (Equity Real Estate Investment Trusts) | | | 1,144 | | | | 70,974 | |
| Retail Properties of America, Inc. (Equity Real Estate Investment Trusts) | | | 1,459 | | | | 17,727 | |
| Rexford Industrial Realty, Inc. (Equity Real Estate Investment Trusts) | | | 758 | | | | 36,528 | |
| RLJ Lodging Trust (Equity Real Estate Investment Trusts) | | | 1,165 | | | | 18,127 | |
| Ryman Hospitality Properties, Inc.—Class I (Equity Real Estate Investment Trusts) | | | 372 | | | | 31,631 | |
| Sabra Health Care REIT, Inc. (Equity Real Estate Investment Trusts) | | | 1,322 | | | | 28,423 | |
| SBA Communications Corp. (Equity Real Estate Investment Trusts) | | | 768 | | | | 191,662 | |
| Service Properties Trust (Equity Real Estate Investment Trusts) | | | 1,124 | | | | 24,256 | |
| Simon Property Group, Inc. (Equity Real Estate Investment Trusts) | | | 2,094 | | | | 278,816 | |
| SITE Centers Corp. (Equity Real Estate Investment Trusts) | | | 1,020 | | | | 12,964 | |
| SL Green Realty Corp. (Equity Real Estate Investment Trusts) | | | 555 | | | | 51,082 | |
| Spirit Realty Capital, Inc. (Equity Real Estate Investment Trusts) | | | 681 | | | | 35,943 | |
| Starwood Property Trust, Inc. (Mortgage Real Estate Investment Trusts) | | | 1,924 | | | | 49,370 | |
| STORE Capital Corp. (Equity Real Estate Investment Trusts) | | | 1,459 | | | | 57,266 | |
| Sun Communities, Inc. (Equity Real Estate Investment Trusts) | | | 632 | | | | 102,491 | |
| Sunstone Hotel Investors, Inc. (Equity Real Estate Investment Trusts) | | | 1,536 | | | | 19,476 | |
| Taubman Centers, Inc. (Equity Real Estate Investment Trusts) | | | 418 | | | | 11,044 | |
| The GEO Group, Inc. (Equity Real Estate Investment Trusts) | | | 830 | | | | 13,114 | |
| The Howard Hughes Corp.* (Real Estate Management & Development) | | | 295 | | | | 35,896 | |
| The Macerich Co. (Equity Real Estate Investment Trusts) | | | 751 | | | | 16,755 | |
| Two Harbors Investment Corp. (Mortgage Real Estate Investment Trusts) | | | 1,864 | | | | 28,445 | |
| UDR, Inc. (Equity Real Estate Investment Trusts) | | | 2,000 | | | | 95,820 | |
| Urban Edge Properties (Equity Real Estate Investment Trusts) | | | 787 | | | | 14,473 | |
| Ventas, Inc. (Equity Real Estate Investment Trusts) | | | 2,544 | | | | 147,196 | |
| VEREIT, Inc. (Equity Real Estate Investment Trusts) | | | 7,287 | | | | 71,121 | |
| VICI Properties, Inc. (Equity Real Estate Investment Trusts) | | | 3,146 | | | | 84,313 | |
| Vornado Realty Trust (Equity Real Estate Investment Trusts) | | | 1,081 | | | | 71,097 | |
| Washington Real Estate Investment Trust (Equity Real Estate Investment Trusts) | | | 550 | | | | 16,742 | |
| Weingarten Realty Investors (Equity Real Estate Investment Trusts) | | | 827 | | | | 24,066 | |
| Welltower, Inc. (Equity Real Estate Investment Trusts) | | | 2,768 | | | | 235,031 | |
| Weyerhaeuser Co. (Equity Real Estate Investment Trusts) | | | 5,085 | | | | 147,211 | |
| WP Carey, Inc. (Equity Real Estate Investment Trusts) | | | 1,176 | | | | 98,925 | |
| Xenia Hotels & Resorts, Inc. (Equity Real Estate Investment Trusts) | | | 769 | | | | 14,373 | |
TOTAL COMMON STOCKS
(Cost $4,314,692) | | | | | | | 8,714,506 | |
Repurchase Agreements(a)(b) (60.1%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $7,321,889 | | $ | 7,321,000 | | | $ | 7,321,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $7,321,000) | | | | | | | 7,321,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $11,635,692)—131.7% | | | | | | | 16,035,506 | |
| Net other assets (liabilities)—(31.7)% | | | | | | | (3,863,308 | ) |
| NET ASSETS—100.0% | | | | | | $ | 12,172,198 | |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Real Estate UltraSector ProFund :: 105
| * | Non-income producing security. |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $2,858,000. |
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Dow Jones U.S. Real Estate Index | | Goldman Sachs International | | | 2/24/20 | | | | 2.09 | % | | $ | 4,418,640 | | | $ | (128,116 | ) |
| Dow Jones U.S. Real Estate Index | | UBS AG | | | 2/24/20 | | | | 1.94 | % | | | 5,109,610 | | | | (89,849 | ) |
| | | | | | | | | | | | | $ | 9,528,250 | | | $ | (217,965 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
Real Estate UltraSector ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Equity Real Estate Investment Trusts | | $ | 7,923,882 | | | | 65.2 | % |
| Mortgage Real Estate Investment Trusts | | | 392,435 | | | | 3.2 | % |
| Professional Services | | | 163,248 | | | | 1.3 | % |
| Real Estate Management & Development | | | 234,941 | | | | 1.9 | % |
| Other** | | | 3,457,692 | | | | 28.4 | % |
| Total | | $ | 12,172,198 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
See accompanying notes to the financial statements.
106 :: Rising Rates Opportunity ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Repurchase Agreements(a)(b) (141.3%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $14,187,722 | | $ | 14,186,000 | | | $ | 14,186,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $14,186,000) | | | | | | | 14,186,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $14,186,000)—141.3% | | | | | | | 14,186,000 | |
| Net other assets (liabilities)—(41.3)% | | | | | | | (4,143,457 | ) |
| NET ASSETS—100.0% | | | | | | $ | 10,042,543 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $770,000. |
Total Return Swap Agreements—Short
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| 30-Year U.S. Treasury Bond, 2.375% due on 11/15/49 | | Citibank North America | | | 2/17/20 | | | | (1.40 | )% | | $ | (596,535 | ) | | $ | (149,678 | ) |
| 30-Year U.S. Treasury Bond, 2.375% due on 11/15/49 | | Societe' Generale | | | 2/17/20 | | | | (1.33 | )% | | | (11,822,242 | ) | | | (595,705 | ) |
| | | | | | | | | | | | | $ | (12,418,777 | ) | | $ | (745,383 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Rising Rates Opportunity 10 ProFund :: 107
Repurchase Agreements(a)(b) (103.8%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $3,046,370 | | $ | 3,046,000 | | | $ | 3,046,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $3,046,000) | | | | | | | 3,046,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $3,046,000)—103.8% | | | | | | | 3,046,000 | |
| Net other assets (liabilities)—(3.8)% | | | | | | | (111,524 | ) |
| NET ASSETS—100.0% | | | | | | $ | 2,934,476 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $94,000. |
Total Return Swap Agreements—Short
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| 10-Year U.S. Treasury Note, 1.75% due on 11/15/29 | | Citibank North America | | | 2/17/20 | | | | (1.40 | )% | | $ | (1,359,094 | ) | | $ | (36,178 | ) |
| 10-Year U.S. Treasury Note, 1.75% due on 11/15/29 | | Societe' Generale | | | 2/17/20 | | | | (1.34 | )% | | | (1,563,469 | ) | | | (38,067 | ) |
| | | | | | | | | | | | | $ | (2,922,563 | ) | | $ | (74,245 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
108 :: Rising U.S. Dollar ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Repurchase Agreements(a)(b) (94.0%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $8,506,032 | | $ | 8,505,000 | | | $ | 8,505,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $8,505,000) | | | | | | | 8,505,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $8,505,000)—94.0% | | | | | | | 8,505,000 | |
| Net other assets (liabilities)—6.0% | | | | | | | 540,117 | |
| NET ASSETS—100.0% | | | | | | $ | 9,045,117 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of forward currency contract counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $1,328,000. |
At January 31, 2020, the Rising U.S. Dollar ProFund's forward currency contracts with Goldman Sachs International, were as follows:
Description and amount of
currency purchased | | Description and amount of
currency sold | | Delivery
Date | | Fair
Value | | | Unrealized
Appreciation/
(Depreciation) | |
| Short: | | | | | | | | | | | | | | | | | | | | |
| U.S. dollar | | $ | 378,599 | | | British pound | | | 288,173 | | | 2/7/20 | | $ | 380,538 | | | $ | (1,939 | ) |
| U.S. dollar | | | 110,234 | | | Canadian dollar | | | 143,489 | | | 2/7/20 | | | 108,440 | | | | 1,794 | |
| U.S. dollar | | | 1,661,961 | | | Euro | | | 1,491,591 | | | 2/7/20 | | | 1,654,711 | | | | 7,250 | |
| U.S. dollar | | | 49,387 | | | Japanese yen | | | 5,361,730 | | | 2/7/20 | | | 49,508 | | | | (121 | ) |
| U.S. dollar | | | 58,263 | | | Swedish krona | | | 549,744 | | | 2/7/20 | | | 57,145 | | | | 1,118 | |
| U.S. dollar | | | 188,474 | | | Swiss franc | | | 182,433 | | | 2/7/20 | | | 189,550 | | | | (1,076 | ) |
| Total Short Contracts | | $ | 2,446,918 | | | | | | | | | | | $ | 2,439,892 | | | $ | 7,026 | |
At January 31, 2020, the Rising U.S. Dollar ProFund's forward currency contracts with UBS AG, were as follows:
Description and amount of
currency purchased | | Description and amount of
currency sold | | Delivery
Date | | Fair
Value | | | Unrealized
Appreciation/
(Depreciation) | |
| Short: | | | | | | | | | | | | | | | | | | | | |
| U.S. dollar | | $ | 762,647 | | | British pound | | | 580,726 | | | 2/7/20 | | $ | 766,859 | | | $ | (4,212 | ) |
| U.S. dollar | | | 770,847 | | | Canadian dollar | | | 1,004,152 | | | 2/7/20 | | | 758,876 | | | | 11,971 | |
| U.S. dollar | | | 3,916,817 | | | Euro | | | 3,516,537 | | | 2/7/20 | | | 3,901,105 | | | | 15,712 | |
| U.S. dollar | | | 1,260,416 | | | Japanese yen | | | 136,948,988 | | | 2/7/20 | | | 1,264,524 | | | | (4,108 | ) |
| U.S. dollar | | | 349,673 | | | Swedish krona | | | 3,303,021 | | | 2/7/20 | | | 343,341 | | | | 6,332 | |
| U.S. dollar | | | 159,963 | | | Swiss franc | | | 154,877 | | | 2/7/20 | | | 160,919 | | | | (956 | ) |
| Total Short Contracts | | $ | 7,220,363 | | | | | | | | | | | $ | 7,195,624 | | | $ | 24,739 | |
| Long: | | | | | | | | | | | | | | | | | | | | |
| British pound | | | 50,428 | | | U.S. dollar | | $ | 66,303 | | | 2/7/20 | | $ | 66,591 | | | $ | 288 | |
| Canadian dollar | | | 54,814 | | | U.S. dollar | | | 41,698 | | | 2/7/20 | | | 41,425 | | | | (273 | ) |
| Euro | | | 293,944 | | | U.S. dollar | | | 327,027 | | | 2/7/20 | | | 326,090 | | | | (937 | ) |
| Japanese yen | | | 8,544,356 | | | U.S. dollar | | | 78,565 | | | 2/7/20 | | | 78,895 | | | | 330 | |
| Swedish krona | | | 185,869 | | | U.S. dollar | | | 19,504 | | | 2/7/20 | | | 19,321 | | | | (183 | ) |
| Swiss franc | | | 22,714 | | | U.S. dollar | | | 23,598 | | | 2/7/20 | | | 23,600 | | | | 2 | |
| Total Long Contracts | | | | | | | | $ | 556,695 | | | | | $ | 555,922 | | | $ | (773 | ) |
| | Total unrealized appreciation | | | $ | 44,797 | |
| | Total unrealized (depreciation) | | | | (13,805 | ) |
| | Total net unrealized appreciation/(depreciation) | | | $ | 30,992 | |
| | | | | | | | |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Semiconductor UltraSector ProFund :: 109
Common Stocks (75.5%)
| | | Shares | | | Value | |
| Advanced Micro Devices, Inc.* (Semiconductors & Semiconductor Equipment) | | | 141,352 | | | $ | 6,643,544 | |
| Analog Devices, Inc. (Semiconductors & Semiconductor Equipment) | | | 46,747 | | | | 5,130,483 | |
| Applied Materials, Inc. (Semiconductors & Semiconductor Equipment) | | | 117,250 | | | | 6,799,328 | |
| Broadcom, Inc. (Semiconductors & Semiconductor Equipment) | | | 50,349 | | | | 15,364,501 | |
| Cirrus Logic, Inc.* (Semiconductors & Semiconductor Equipment) | | | 7,335 | | | | 563,401 | |
| Cree, Inc.* (Semiconductors & Semiconductor Equipment) | | | 13,672 | | | | 635,611 | |
| Cypress Semiconductor Corp. (Semiconductors & Semiconductor Equipment) | | | 46,881 | | | | 1,093,734 | |
| Entegris, Inc. (Semiconductors & Semiconductor Equipment) | | | 17,118 | | | | 886,028 | |
| Intel Corp. (Semiconductors & Semiconductor Equipment) | | | 552,135 | | | | 35,297,990 | |
| InterDigital, Inc. (Communications Equipment) | | | 3,952 | | | | 218,348 | |
| KLA Corp. (Semiconductors & Semiconductor Equipment) | | | 20,029 | | | | 3,319,606 | |
| Lam Research Corp. (Semiconductors & Semiconductor Equipment) | | | 18,415 | | | | 5,491,537 | |
| Marvell Technology Group, Ltd. (Semiconductors & Semiconductor Equipment) | | | 84,664 | | | | 2,035,323 | |
| Maxim Integrated Products, Inc. (Semiconductors & Semiconductor Equipment) | | | 34,347 | | | | 2,064,942 | |
| Microchip Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 30,334 | | | | 2,956,958 | |
| Micron Technology, Inc.* (Semiconductors & Semiconductor Equipment) | | | 140,515 | | | | 7,459,941 | |
| MKS Instruments, Inc. (Semiconductors & Semiconductor Equipment) | | | 6,917 | | | | 725,040 | |
| Monolithic Power Systems, Inc. (Semiconductors & Semiconductor Equipment) | | | 5,128 | | | | 877,760 | |
| NVIDIA Corp. (Semiconductors & Semiconductor Equipment) | | | 77,680 | | | | 18,365,882 | |
| ON Semiconductor Corp.* (Semiconductors & Semiconductor Equipment) | | | 52,137 | | | | 1,206,972 | |
| Qorvo, Inc.* (Semiconductors & Semiconductor Equipment) | | | 14,745 | | | | 1,560,906 | |
| Qualcomm, Inc. (Semiconductors & Semiconductor Equipment) | | | 144,932 | | | | 12,364,149 |
| Semtech Corp.* (Semiconductors & Semiconductor Equipment) | | | 8,408 | | | | 405,182 |
| Silicon Laboratories, Inc.* (Semiconductors & Semiconductor Equipment) | | | 5,506 | | | | 541,295 |
| Skyworks Solutions, Inc. (Semiconductors & Semiconductor Equipment) | | | 21,625 | | | | 2,446,869 |
| Teradyne, Inc. (Semiconductors & Semiconductor Equipment) | | | 21,270 | | | | 1,403,607 |
| Texas Instruments, Inc. (Semiconductors & Semiconductor Equipment) | | | 118,648 | | | | 14,314,881 |
| Universal Display Corp. (Semiconductors & Semiconductor Equipment) | | | 5,383 | | | | 948,323 |
| Xilinx, Inc. (Semiconductors & Semiconductor Equipment) | | | 31,917 | | | | 2,696,348 |
TOTAL COMMON STOCKS
(Cost $127,712,593) | | | | | | | 153,818,489 |
Repurchase Agreements(a)(b) (30.6%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $62,500,587 | | $ | 62,493,000 | | | $ | 62,493,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $62,493,000) | | | | | | | 62,493,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $190,205,593)—106.1% | | | | | | | 216,311,489 | |
| Net other assets (liabilities)—(6.1)% | | | | | | | (12,402,338 | ) |
| NET ASSETS—100.0% | | | | | | $ | 203,909,151 | |
| * | Non-income producing security. |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $37,272,000. |
See accompanying notes to the financial statements.
110 :: Semiconductor UltraSector ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Dow Jones U.S. Semiconductors Index | | Goldman Sachs International | | | 2/24/20 | | | | 2.09 | % | | $ | 75,423,791 | | | $ | (5,958,097 | ) |
| Dow Jones U.S. Semiconductors Index | | UBS AG | | | 2/24/20 | | | | 1.94 | % | | | 78,003,843 | | | | (5,651,440 | ) |
| | | | | | | | | | | | | $ | 153,427,634 | | | $ | (11,609,537 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
Semiconductor UltraSector ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Communications Equipment | | $ | 218,348 | | | | 0.1 | % |
| Semiconductors & Semiconductor Equipment | | | 153,600,141 | | | | 75.4 | % |
| Other** | | | 50,090,662 | | | | 24.5 | % |
| Total | | $ | 203,909,151 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Short Nasdaq-100 ProFund :: 111
Repurchase Agreements(a)(b) (72.0%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $4,734,575 | | $ | 4,734,000 | | | $ | 4,734,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $4,734,000) | | | | | | | 4,734,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $4,734,000)—72.0% | | | | | | | 4,734,000 | |
| Net other assets (liabilities)—28.0% | | | | | | | 1,844,487 | |
| NET ASSETS—100.0% | | | | | | $ | 6,578,487 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $636,000. |
Futures Contracts Sold
| | | Number
of
Contracts | | | Expiration
Date | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini Nasdaq-100 Futures Contracts | | 4 | | | 3/23/20 | | $ | (719,620 | ) | | $ | (40,370 | ) |
Total Return Swap Agreements—Short
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Nasdaq-100 Index | | Goldman Sachs International | | 2/27/20 | | | | (1.89 | )% | | $ | (2,964,272 | ) | | $ | (34,448 | ) |
| Nasdaq-100 Index | | UBS AG | | 2/27/20 | | | | (1.74 | )% | | | (2,931,758 | ) | | | (4,241 | ) |
| | | | | | | | | | | | $ | (5,896,030 | ) | | $ | (38,689 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
112 :: Short Oil & Gas ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Repurchase Agreements(a)(b) (74.5%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $2,019,245 | | $ | 2,019,000 | | | $ | 2,019,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $2,019,000) | | | | | | | 2,019,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $2,019,000)—74.5% | | | | | | | 2,019,000 | |
| Net other assets (liabilities)—25.5% | | | | | | | 690,522 | |
| NET ASSETS—100.0% | | | | | | $ | 2,709,522 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $576,000. |
Total Return Swap Agreements—Short
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Dow Jones U.S. Oil & Gas Index | | Goldman Sachs International | | | 2/24/20 | | | | (1.74 | )% | | $ | (1,954,454 | ) | | $ | 102,140 | |
| Dow Jones U.S. Oil & Gas Index | | UBS AG | | | 2/24/20 | | | | (1.44 | )% | | | (772,049 | ) | | | 55,819 | |
| | | | | | | | | | | | | $ | (2,726,503 | ) | | $ | 157,959 | |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Short Precious Metals ProFund :: 113
Repurchase Agreements(a)(b) (110.0%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $1,394,169 | | $ | 1,394,000 | | | $ | 1,394,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $1,394,000) | | | | | | | 1,394,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $1,394,000)—110.0% | | | | | | | 1,394,000 | |
| Net other assets (liabilities)—(10.0)% | | | | | | | (126,194 | ) |
| NET ASSETS—100.0% | | | | | | $ | 1,267,806 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $548,000. |
Total Return Swap Agreements—Short
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Dow Jones Precious Metals Index | | Goldman Sachs International | | | 2/24/20 | | | | (1.49 | )% | | $ | (659,345 | ) | | $ | (58,522 | ) |
| Dow Jones Precious Metals Index | | UBS AG | | | 2/24/20 | | | | (1.34 | )% | | | (629,271 | ) | | | (15,413 | ) |
| | | | | | | | | | | | | $ | (1,288,616 | ) | | $ | (73,935 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
114 :: Short Real Estate ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Repurchase Agreements(a)(b) (98.5%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $805,098 | | $ | 805,000 | | | $ | 805,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $805,000) | | | | | | | 805,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $805,000)—98.5% | | | | | | | 805,000 | |
| Net other assets (liabilities)—1.5% | | | | | | | 12,284 | |
| NET ASSETS—100.0% | | | | | | $ | 817,284 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $332,000. |
Total Return Swap Agreements—Short
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Dow Jones U.S. Real Estate Index | | Goldman Sachs International | | 2/24/20 | | | (1.74 | )% | | $ | (322,877 | ) | | $ | 5,482 | |
| Dow Jones U.S. Real Estate Index | | UBS AG | | 2/24/20 | | | (1.34 | )% | | | (493,063 | ) | | | 8,603 | |
| | | | | | | | | | | $ | (815,940 | ) | | $ | 14,085 | |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Short Small-Cap ProFund :: 115
Repurchase Agreements(a)(b) (63.4%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $2,178,264 | | $ | 2,178,000 | | | $ | 2,178,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $2,178,000) | | | | | | | 2,178,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $2,178,000)—63.4% | | | | | | | 2,178,000 | |
| Net other assets (liabilities)—36.6% | | | | | | | 1,260,021 | |
| NET ASSETS—100.0% | | | | | | $ | 3,438,021 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $589,000. |
Futures Contracts Sold
| | | Number
of
Contracts | | | Expiration
Date | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini Russell 2000 Index Futures Contracts | | 2 | | | 3/23/20 | | $ | (161,460 | ) | | $ | 3,407 | |
Total Return Swap Agreements—Short
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Russell 2000 Index | | Goldman Sachs International | | 2/27/20 | | | | (1.34 | )% | | $ | (1,367,652 | ) | | $ | 26,270 | |
| Russell 2000 Index | | UBS AG | | 2/27/20 | | | | (1.09 | )% | | | (1,889,203 | ) | | | 11,743 | |
| | | | | | | | | | | | $ | (3,256,855 | ) | | $ | 38,013 | |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
116 :: Small-Cap ProFund ::Summary Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks (61.6%)
| | | Percentage
of Net Assets | | | Shares | | | Value | |
| Aaron's, Inc. (Specialty Retail) | | | 0.1 | % | | | 98 | | | $ | 5,818 | |
| ACADIA Pharmaceuticals, Inc.* (Biotechnology) | | | 0.1 | % | | | 145 | | | | 5,790 | |
| ALLETE, Inc. (Electric Utilities) | | | 0.1 | % | | | 72 | | | | 6,011 | |
| Amedisys, Inc.* (Health Care Providers & Services) | | | 0.2 | % | | | 49 | | | | 8,647 | |
| Axon Enterprise, Inc.* (Aerospace & Defense) | | | 0.2 | % | | | 85 | | | | 6,530 | |
| Black Hills Corp. (Multi-Utilities) | | | 0.2 | % | | | 85 | | | | 7,058 | |
| Blackstone Mortgage Trust, Inc.—Class A (Mortgage Real Estate Investment Trusts) | | | 0.2 | % | | | 170 | | | | 6,493 | |
| Chegg, Inc.* (Diversified Consumer Services) | | | 0.2 | % | | | 158 | | | | 6,513 | |
| Churchill Downs, Inc. (Hotels, Restaurants & Leisure) | | | 0.2 | % | | | 49 | | | | 7,075 | |
| Cirrus Logic, Inc.* (Semiconductors & Semiconductor Equipment) | | | 0.2 | % | | | 85 | | | | 6,528 | |
| Darling Ingredients, Inc.* (Food Products) | | | 0.1 | % | | | 218 | | | | 5,914 | |
| Deckers Outdoor Corp.* (Textiles, Apparel & Luxury Goods) | | | 0.2 | % | | | 37 | | | | 7,065 | |
| EastGroup Properties, Inc. (Equity Real Estate Investment Trusts) | | | 0.2 | % | | | 49 | | | | 6,667 | |
| EMCOR Group, Inc. (Construction & Engineering) | | | 0.1 | % | | | 72 | | | | 5,916 | |
| Essent Group, Ltd. (Thrifts & Mortgage Finance) | | | 0.2 | % | | | 134 | | | | 6,647 | |
| First Financial Bankshares, Inc. (Banks) | | | 0.2 | % | | | 181 | | | | 6,067 | |
| First Industrial Realty Trust, Inc. (Equity Real Estate Investment Trusts) | | | 0.2 | % | | | 170 | | | | 7,258 | |
| Five9, Inc.* (Software) | | | 0.2 | % | | | 85 | | | | 6,096 | |
| FTI Consulting, Inc.* (Professional Services) | | | 0.1 | % | | | 49 | | | | 5,882 | |
| Generac Holdings, Inc.* (Electrical Equipment) | | | 0.2 | % | | | 85 | | | | 8,804 | |
| Globus Medical, Inc.— Class A* (Health Care Equipment & Supplies) | | | 0.1 | % | | | 109 | | | | 5,699 | |
| Haemonetics Corp.* (Health Care Equipment & Supplies) | | | 0.2 | % | | | 72 | | | | 7,732 | |
| Healthcare Realty Trust, Inc. (Equity Real Estate Investment Trusts) | | | 0.2 | % | | | 170 | | | | 6,130 | |
| Helen of Troy, Ltd.* (Household Durables) | | | 0.2 | % | | | 37 | | | | 6,995 | |
| j2 Global, Inc. (Software) | | | 0.1 | % | | | 60 | | | | 5,752 | |
| Lumentum Holdings, Inc.* (Communications Equipment) | | | 0.2 | % | | | 109 | | | | 8,258 | |
| Marriott Vacations Worldwide Corp. (Hotels, Restaurants & Leisure) | | | 0.2 | % | | | 60 | | | | 7,213 | |
| MAXIMUS, Inc. (IT Services) | | | 0.2 | % | | | 85 | | | | 6,099 | |
| MSA Safety, Inc. (Commercial Services & Supplies) | | | 0.2 | % | | | 49 | | | | 6,645 | |
| Novocure, Ltd.* (Health Care Equipment & Supplies) | | | 0.2 | % | | | 109 | | | | 8,878 | |
| ONE Gas, Inc. (Gas Utilities) | | | 0.2 | % | | | 72 | | | | 6,804 | |
| Performance Food Group Co.* (Food & Staples Retailing) | | | 0.2 | % | | | 145 | | | | 7,509 | |
| PNM Resources, Inc. (Electric Utilities) | | | 0.1 | % | | | 109 | | | | 5,911 | |
| Portland General Electric Co. (Electric Utilities) | | | 0.2 | % | | | 122 | | | | 7,503 | |
| Radian Group, Inc. (Thrifts & Mortgage Finance) | | | 0.2 | % | | | 279 | | | | 6,832 | |
| RBC Bearings, Inc.* (Machinery) | | | 0.1 | % | | | 37 | | | | 5,754 | |
| Repligen Corp.* (Biotechnology) | | | 0.2 | % | | | 60 | | | | 6,022 | |
| Rexford Industrial Realty, Inc. (Equity Real Estate Investment Trusts) | | | 0.2 | % | | | 145 | | | | 6,988 | |
| Science Applications International Corp. (IT Services) | | | 0.2 | % | | | 85 | | | | 7,459 | |
| Silicon Laboratories, Inc.* (Semiconductors & Semiconductor Equipment) | | | 0.1 | % | | | 60 | | | | 5,899 | |
| Siteone Landscape Supply, Inc.* (Trading Companies & Distributors) | | | 0.1 | % | | | 60 | | | | 5,792 | |
| Spire, Inc. (Gas Utilities) | | | 0.2 | % | | | 72 | | | | 6,071 | |
| Stifel Financial Corp. (Capital Markets) | | | 0.2 | % | | | 98 | | | | 6,339 | |
| Tech Data Corp.* (Electronic Equipment, Instruments & Components) | | | 0.2 | % | | | 49 | | | | 7,052 | |
| Teladoc Health, Inc.* (Health Care Technology) | | | 0.2 | % | | | 98 | | | | 9,967 | |
| Tetra Tech, Inc. (Commercial Services & Supplies) | | | 0.2 | % | | | 72 | | | | 6,163 | |
| Texas Roadhouse, Inc.— Class A (Hotels, Restaurants & Leisure) | | | 0.2 | % | | | 98 | | | | 6,125 | |
| The Brink's Co. (Commercial Services & Supplies) | | | 0.2 | % | | | 72 | | | | 6,062 | |
| Trex Co., Inc.* (Building Products) | | | 0.2 | % | | | 85 | | | | 8,350 | |
| Other Common Stocks(a) | | | 53.3 | % | | | 86,683 | | | | 2,142,385 | |
TOTAL COMMON STOCKS
(Cost $1,498,466) | | | | | | | | | | | 2,473,167 | |
| Contingent Right(NM) | | | | | | | | |
A. Schulman, Inc.*+(b)
(Chemicals) | | | 204 | | | | 107 | |
TOTAL CONTINGENT RIGHT
(Cost $408) | | | | | | | 107 | |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Summary Schedule of Portfolio Investments:: Small-Cap ProFund :: 117
Trust (0.00%)
| | | Interest
Units | | | Value | |
| Ferroglobe Representation and Warranty Insurance*+ (Metals & Mining) | | | 290 | | | $ | — | |
TOTAL TRUST
(Cost $—) | | | | | | | — | |
Repurchase Agreements(c)(d) (41.8%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $1,680,204 | | $ | 1,680,000 | | | $ | 1,680,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $1,680,000) | | | | | | | 1,680,000 | |
Collateral for Securities Loaned (0.4%)
| | | Shares | | | Value | |
| BlackRock Liquidity Funds FedFund Portfolio—Institutional Shares, 1.81%(e) | | | 7,626 | | | $ | 7,626 | |
| Invesco Government & Agency Portfolio—Institutional Shares, 1.77%(e) | | | 2,337 | | | | 2,337 | |
| Fidelity Investments Money Market Government Portfolio—Class I, 1.80%(e) | | | 7,255 | | | | 7,255 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $17,218) | | | | | | | 17,218 | |
TOTAL INVESTMENT SECURITIES
(Cost $3,196,092)—103.8% | | | | | | | 4,170,492 | |
| Net other assets (liabilities)—(3.8)% | | | | | | | (155,324 | ) |
| NET ASSETS—100.0% | | | | | | $ | 4,015,168 | |
| * | Non-income producing security. |
| + | These securities were fair valued based on procedures approved by the Board of Trustees. As of January 31, 2020, these securities represented less than 0.005% of the net assets of the Fund. |
| (a) | All or part of this security was on loan as of January 31, 2020. The total value of securities on loan as of January 31, 2020 was $15,906. |
| (b) | No explicit expiration date, expiration is subject to contingencies. In August 2018, LyondellBasell Industries N.V. completed an acquisition of 100% of A. Schulman, Inc. in exchange for cash and a contingent right per share acquired. Rights entitle the Fund to certain net proceeds, if any, that are recovered from ongoing litigation and government investigations related to past acquisitions made my A. Schulman, Inc. |
| (c) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $342,000. |
| (d) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (e) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2020. |
Futures Contracts Purchased
| | | Number
of
Contracts | | | Expiration
Date | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini Russell 2000 Index Futures Contracts | | | 9 | | | 3/23/20 | | $ | 726,570 | | | $ | (15,359 | ) |
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Russell 2000 Index | | Goldman Sachs International | | 2/27/20 | | | 1.84 | % | | $ | 153,949 | | | $ | 27,438 | |
| Russell 2000 Index | | UBS AG | | 2/27/20 | | | 1.59 | % | | | 661,093 | | | | (15,353 | ) |
| | | | | | | | | | | $ | 815,042 | | | $ | 12,085 | |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
118 :: Small-Cap ProFund ::Summary Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Small-Cap ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 37,659 | | | | 0.9 | % |
| Air Freight & Logistics | | | 8,276 | | | | 0.2 | % |
| Airlines | | | 11,714 | | | | 0.3 | % |
| Auto Components | | | 28,548 | | | | 0.7 | % |
| Automobiles | | | 2,026 | | | | 0.1 | % |
| Banks | | | 229,601 | | | | 5.6 | % |
| Beverages | | | 9,158 | | | | 0.2 | % |
| Biotechnology | | | 151,386 | | | | 3.7 | % |
| Building Products | | | 44,777 | | | | 1.1 | % |
| Capital Markets | | | 38,865 | | | | 1.0 | % |
| Chemicals | | | 46,446 | | | | 1.2 | % |
| Commercial Services & Supplies | | | 74,207 | | | | 1.8 | % |
| Communications Equipment | | | 28,666 | | | | 0.7 | % |
| Construction & Engineering | | | 26,172 | | | | 0.7 | % |
| Construction Materials | | | 4,317 | | | | 0.1 | % |
| Consumer Finance | | | 15,931 | | | | 0.4 | % |
| Containers & Packaging | | | 2,256 | | | | 0.1 | % |
| Distributors | | | 1,776 | | | | NM | |
| Diversified Consumer Services | | | 23,102 | | | | 0.6 | % |
| Diversified Financial Services | | | 6,543 | | | | 0.2 | % |
| Diversified Telecommunication Services | | | 14,015 | | | | 0.3 | % |
| Electric Utilities | | | 30,051 | | | | 0.7 | % |
| Electrical Equipment | | | 29,503 | | | | 0.7 | % |
| Electronic Equipment, Instruments & Components | | | 66,645 | | | | 1.7 | % |
| Energy Equipment & Services | | | 18,049 | | | | 0.4 | % |
| Entertainment | | | 5,451 | | | | 0.1 | % |
| Equity Real Estate Investment Trusts | | | 183,115 | | | | 4.6 | % |
| Food & Staples Retailing | | | 17,834 | | | | 0.4 | % |
| Food Products | | | 31,733 | | | | 0.8 | % |
| Gas Utilities | | | 32,200 | | | | 0.8 | % |
| Health Care Equipment & Supplies | | | 98,179 | | | | 2.4 | % |
| Health Care Providers & Services | | | 56,002 | | | | 1.4 | % |
| Health Care Technology | | | 28,077 | | | | 0.7 | % |
| Hotels, Restaurants & Leisure | | | 70,880 | | | | 1.8 | % |
| Household Durables | | | 51,205 | | | | 1.3 | % |
| Household Products | | | 6,498 | | | | 0.2 | % |
| Independent Power and Renewable Electricity Producers | | | 11,881 | | | | 0.3 | % |
| Industrial Conglomerates | | | 1,474 | | | | NM | |
| Insurance | | | 57,439 | | | | 1.4 | % |
| Interactive Media & Services | | | 10,673 | | | | 0.3 | % |
| Internet & Direct Marketing Retail | | | 7,741 | | | | 0.2 | % |
| IT Services | | | 59,346 | | | | 1.5 | % |
| Leisure Products | | | 9,328 | | | | 0.2 | % |
| Life Sciences Tools & Services | | | 17,893 | | | | 0.4 | % |
| Machinery | | | 98,742 | | | | 2.5 | % |
| Marine | | | 2,161 | | | | 0.1 | % |
| Media | | | 18,789 | | | | 0.5 | % |
| Metals & Mining | | | 30,054 | | | | 0.7 | % |
| Mortgage Real Estate Investment Trusts | | | 35,071 | | | | 0.9 | % |
| Multiline Retail | | | 2,028 | | | | 0.1 | % |
| Multi-Utilities | | | 18,464 | | | | 0.5 | % |
| Oil, Gas & Consumable Fuels | | | 37,601 | | | | 0.9 | % |
| Paper & Forest Products | | | 11,642 | | | | 0.3 | % |
| Personal Products | | | 6,315 | | | | 0.2 | % |
| Pharmaceuticals | | | 43,247 | | | | 1.1 | % |
| Professional Services | | | 39,848 | | | | 1.0 | % |
| Real Estate Management & Development | | | 18,979 | | | | 0.5 | % |
| Road & Rail | | | 13,224 | | | | 0.3 | % |
| Semiconductors & Semiconductor Equipment | | | 71,514 | | | | 1.8 | % |
| Software | | | 122,914 | | | | 3.1 | % |
| Specialty Retail | | | 59,928 | | | | 1.5 | % |
| Technology Hardware, Storage & Peripherals | | | 4,203 | | | | 0.1 | % |
| Textiles, Apparel & Luxury Goods | | | 25,329 | | | | 0.6 | % |
| Thrifts & Mortgage Finance | | | 51,675 | | | | 1.3 | % |
| Tobacco | | | 3,938 | | | | 0.1 | % |
| Trading Companies & Distributors | | | 35,490 | | | | 0.9 | % |
| Water Utilities | | | 12,407 | | | | 0.3 | % |
| Wireless Telecommunication Services | | | 3,073 | | | | 0.1 | % |
| Other** | | | 1,541,894 | | | | 38.4 | % |
| Total | | $ | 4,015,168 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
| NM | Not meaningful, amount is less than 0.05%. |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Small-Cap Growth ProFund :: 119
Common Stocks (100.0%)
| | | Shares | | | Value | |
| 3D Systems Corp.* (Technology Hardware, Storage & Peripherals) | | | 3,399 | | | $ | 37,015 | |
| 8x8, Inc.* (Software) | | | 2,875 | | | | 53,533 | |
| AAON, Inc. (Building Products) | | | 1,165 | | | | 61,093 | |
| Acadia Realty Trust (Equity Real Estate Investment Trusts) | | | 1,371 | | | | 34,028 | |
| Addus Homecare Corp.* (Health Care Providers & Services) | | | 388 | | | | 36,604 | |
| Advanced Energy Industries, Inc.* (Semiconductors & Semiconductor Equipment) | | | 1,099 | | | | 76,864 | |
| Aerojet Rocketdyne Holdings, Inc.* (Aerospace & Defense) | | | 2,078 | | | | 108,202 | |
| AeroVironment, Inc.* (Aerospace & Defense) | | | 366 | | | | 24,379 | |
| Agilysys, Inc.* (Software) | | | 584 | | | | 18,980 | |
| Agree Realty Corp. (Equity Real Estate Investment Trusts) | | | 1,217 | | | | 92,407 | |
| Akorn, Inc.* (Pharmaceuticals) | | | 980 | | | | 1,499 | |
| Alamo Group, Inc. (Machinery) | | | 278 | | | | 34,628 | |
| Alarm.com Holdings, Inc.* (Software) | | | 1,044 | | | | 45,863 | |
| Albany International Corp.—Class A (Machinery) | | | 880 | | | | 61,398 | |
| Allegiant Travel Co. (Airlines) | | | 379 | | | | 63,687 | |
| American Assets Trust, Inc. (Equity Real Estate Investment Trusts) | | | 826 | | | | 37,633 | |
| American States Water Co. (Water Utilities) | | | 1,056 | | | | 93,519 | |
| American Vanguard Corp. (Chemicals) | | | 405 | | | | 7,565 | |
| American Woodmark Corp.* (Building Products) | | | 447 | | | | 49,014 | |
| Ameris Bancorp (Banks) | | | 845 | | | | 33,961 | |
| AMERISAFE, Inc. (Insurance) | | | 265 | | | | 18,131 | |
| AMN Healthcare Services, Inc.* (Health Care Providers & Services) | | | 723 | | | | 48,716 | |
| Amphastar Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 501 | | | | 9,474 | |
| ANI Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 266 | | | | 16,492 | |
| Anika Therapeutics, Inc.* (Health Care Equipment & Supplies) | | | 410 | | | | 16,855 | |
| Apogee Enterprises, Inc. (Building Products) | | | 381 | | | | 12,123 | |
| Applied Industrial Technologies, Inc. (Trading Companies & Distributors) | | | 632 | | | | 40,808 | |
| Arlo Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | | 1,109 | | | | 4,735 | |
| Armada Hoffler Properties, Inc. (Equity Real Estate Investment Trusts) | | | 700 | | | | 12,838 | |
| ARMOUR Residential REIT, Inc. (Mortgage Real Estate Investment Trusts) | | | 644 | | | | 12,403 | |
| Asbury Automotive Group, Inc.* (Specialty Retail) | | | 284 | | | | 27,392 | |
| Axcelis Technologies, Inc.* (Semiconductors & Semiconductor Equipment) | | | 484 | | | | 11,689 | |
| Axos Financial, Inc.*—Class I (Thrifts & Mortgage Finance) | | | 1,010 | | | | 28,452 | |
| Badger Meter, Inc. (Electronic Equipment, Instruments & Components) | | | 527 | | | | 31,125 | |
| Balchem Corp. (Chemicals) | | | 923 | | | | 99,703 | |
| Barnes Group, Inc. (Machinery) | | | 846 | | | | 53,442 | |
| Benchmark Electronics, Inc. (Electronic Equipment, Instruments & Components) | | | 551 | | | | 16,960 | |
| BioTelemetry, Inc.* (Health Care Providers & Services) | | | 975 | | | | 47,697 | |
| Bloomin' Brands, Inc. (Hotels, Restaurants & Leisure) | | | 1,694 | | | | 35,184 | |
| Blucora, Inc.* (Capital Markets) | | | 786 | | | | 17,724 | |
| Boot Barn Holdings, Inc.* (Specialty Retail) | | | 819 | | | | 34,373 | |
| Bottomline Technologies, Inc.* (Software) | | | 634 | | | | 33,982 | |
| Brady Corp.—Class A (Commercial Services & Supplies) | | | 970 | | | | 53,709 | |
| Brookline Bancorp, Inc. (Banks) | | | 1,008 | | | | 15,322 | |
| Brooks Automation, Inc. (Semiconductors & Semiconductor Equipment) | | | 2,075 | | | | 79,016 | |
| Calavo Growers, Inc. (Food Products) | | | 261 | | | | 19,995 | |
| California Water Service Group (Water Utilities) | | | 925 | | | | 48,618 | |
| Callaway Golf Co. (Leisure Products) | | | 2,700 | | | | 57,834 | |
| Callon Petroleum Co.* (Oil, Gas & Consumable Fuels) | | | 5,938 | | | | 17,814 | |
| Cardiovascular Systems, Inc.* (Health Care Equipment & Supplies) | | | 1,010 | | | | 45,844 | |
| Cardtronics PLC*—Class A (IT Services) | | | 683 | | | | 30,735 | |
| Care.com, Inc.* (Interactive Media & Services) | | | 405 | | | | 6,063 | |
| CareTrust REIT, Inc. (Equity Real Estate Investment Trusts) | | | 1,342 | | | | 29,766 | |
| Cavco Industries, Inc.* (Household Durables) | | | 247 | | | | 55,333 | |
| Central Pacific Financial Corp. (Banks) | | | 432 | | | | 11,979 | |
| Century Communities, Inc.* (Household Durables) | | | 372 | | | | 11,037 | |
| CEVA, Inc.* (Semiconductors & Semiconductor Equipment) | | | 341 | | | | 9,326 | |
| Chart Industries, Inc.* (Machinery) | | | 607 | | | | 38,836 | |
| Chuy's Holdings, Inc.* (Hotels, Restaurants & Leisure) | | | 476 | | | | 11,686 | |
| CIRCOR International, Inc.* (Machinery) | | | 571 | | | | 23,714 | |
| City Holding Co. (Banks) | | | 281 | | | | 21,266 | |
| Cleveland-Cliffs, Inc.(a) (Metals & Mining) | | | 4,341 | | | | 30,474 | |
| Coca-Cola Consolidated, Inc. (Beverages) | | | 133 | | | | 36,017 | |
| Cogent Communications Holdings, Inc. (Diversified Telecommunication Services) | | | 1,195 | | | | 84,761 | |
| Cohu, Inc. (Semiconductors & Semiconductor Equipment) | | | 533 | | | | 11,923 | |
| Comfort Systems USA, Inc. (Construction & Engineering) | | | 726 | | | | 33,687 | |
| Community Bank System, Inc. (Banks) | | | 845 | | | | 55,997 | |
| Community Health Systems, Inc.* (Health Care Providers & Services) | | | 3,381 | | | | 14,504 | |
| Community Healthcare Trust, Inc. (Equity Real Estate Investment Trusts) | | | 545 | | | | 25,708 | |
| Comtech Telecommunications Corp. (Communications Equipment) | | | 699 | | | | 20,208 | |
| CONMED Corp. (Health Care Equipment & Supplies) | | | 814 | | | | 82,767 | |
| Corcept Therapeutics, Inc.* (Pharmaceuticals) | | | 2,951 | | | | 37,389 | |
| CorVel Corp.* (Health Care Providers & Services) | | | 256 | | | | 23,442 | |
| Crocs, Inc.* (Textiles, Apparel & Luxury Goods) | | | 1,967 | | | | 74,569 | |
| CryoLife, Inc.* (Health Care Equipment & Supplies) | | | 591 | | | | 17,576 | |
| CSG Systems International, Inc. (IT Services) | | | 946 | | | | 47,130 | |
| CTS Corp. (Electronic Equipment, Instruments & Components) | | | 506 | | | | 14,831 | |
| Cubic Corp. (Aerospace & Defense) | | | 457 | | | | 29,838 | |
| Cutera, Inc.* (Health Care Equipment & Supplies) | | | 409 | | | | 11,526 | |
| CVB Financial Corp. (Banks) | | | 1,833 | | | | 38,071 | |
See accompanying notes to the financial statements.
120 :: Small-Cap Growth ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Cytokinetics, Inc.* (Biotechnology) | | | 934 | | | $ | 11,488 | |
| Dave & Buster's Entertainment, Inc. (Hotels, Restaurants & Leisure) | | | 504 | | | | 22,257 | |
| Diebold Nixdorf, Inc.* (Technology Hardware, Storage & Peripherals) | | | 2,204 | | | | 25,368 | |
| Digi International, Inc.* (Communications Equipment) | | | 813 | | | | 12,841 | |
| DineEquity, Inc. (Hotels, Restaurants & Leisure) | | | 482 | | | | 41,091 | |
| Diodes, Inc.* (Semiconductors & Semiconductor Equipment) | | | 1,187 | | | | 61,297 | |
| DMC Global, Inc. (Machinery) | | | 421 | | | | 17,610 | |
| Dorian LPG, Ltd.* (Oil, Gas & Consumable Fuels) | | | 225 | | | | 2,952 | |
| Dorman Products, Inc.* (Auto Components) | | | 452 | | | | 31,550 | |
| DSP Group, Inc.* (Semiconductors & Semiconductor Equipment) | | | 312 | | | | 4,512 | |
| Eagle Pharmaceuticals, Inc.* (Biotechnology) | | | 291 | | | | 15,662 | |
| Easterly Government Properties, Inc. (Equity Real Estate Investment Trusts) | | | 1,191 | | | | 28,834 | |
| Ebix, Inc. (Software) | | | 434 | | | | 14,943 | |
| eHealth, Inc.* (Insurance) | | | 583 | | | | 61,308 | |
| El Paso Electric Co. (Electric Utilities) | | | 677 | | | | 46,097 | |
| El Pollo Loco Holdings, Inc.* (Hotels, Restaurants & Leisure) | | | 298 | | | | 4,106 | |
| Emergent BioSolutions, Inc.* (Biotechnology) | | | 767 | | | | 42,254 | |
| Enanta Pharmaceuticals, Inc.* (Biotechnology) | | | 458 | | | | 23,605 | |
| Encore Wire Corp. (Electrical Equipment) | | | 356 | | | | 19,334 | |
| Enerpac Tool Group Corp. (Machinery) | | | 710 | | | | 16,408 | |
| Enova International, Inc.* (Consumer Finance) | | | 968 | | | | 24,258 | |
| ePlus, Inc.* (Electronic Equipment, Instruments & Components) | | | 178 | | | | 14,190 | |
| ESCO Technologies, Inc. (Machinery) | | | 745 | | | | 71,490 | |
| Essential Properties Realty Trust, Inc. (Real Estate Management & Development) | | | 2,523 | | | | 69,660 | |
| EVERTEC, Inc. (IT Services) | | | 1,713 | | | | 57,505 | |
| ExlService Holdings, Inc.* (IT Services) | | | 979 | | | | 71,575 | |
| Exponent, Inc. (Professional Services) | | | 1,488 | | | | 108,281 | |
| Extreme Networks, Inc.* (Communications Equipment) | | | 3,490 | | | | 20,591 | |
| Fabrinet* (Electronic Equipment, Instruments & Components) | | | 1,061 | | | | 66,885 | |
| FARO Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | | 253 | | | | 13,070 | |
| Federal Signal Corp. (Machinery) | | | 1,736 | | | | 55,830 | |
| First BanCorp. (Banks) | | | 2,932 | | | | 27,180 | |
| First Commonwealth Financial Corp. (Banks) | | | 1,580 | | | | 21,362 | |
| Flagstar Bancorp, Inc. (Thrifts & Mortgage Finance) | | | 573 | | | | 20,193 | |
| FormFactor, Inc.* (Semiconductors & Semiconductor Equipment) | | | 2,172 | | | | 54,973 | |
| Forrester Research, Inc.* (Professional Services) | | | 169 | | | | 6,992 | |
| Forward Air Corp. (Air Freight & Logistics) | | | 808 | | | | 52,884 | |
| Foundation Building Materials, Inc.* (Trading Companies & Distributors) | | | 264 | | | | 4,707 | |
| Four Corners Property Trust, Inc. (Equity Real Estate Investment Trusts) | | | 1,166 | | | | 35,318 | |
| Fox Factory Holding Corp.* (Auto Components) | | | 1,105 | | | | 72,731 | |
| Franklin Electric Co., Inc. (Machinery) | | | 1,104 | | | | 63,690 | |
| Gentherm, Inc.* (Auto Components) | | | 451 | | | | 20,796 | |
| Geospace Technologies Corp.* (Energy Equipment & Services) | | | 393 | | | | 5,270 | |
| Getty Realty Corp. (Equity Real Estate Investment Trusts) | | | 519 | | | | 16,359 | |
| Gibraltar Industries, Inc.* (Building Products) | | | 657 | | | | 35,820 | |
| Glacier Bancorp, Inc. (Banks) | | | 1,451 | | | | 61,478 | |
| Glu Mobile, Inc.* (Entertainment) | | | 3,305 | | | | 19,500 | |
| GMS, Inc.* (Trading Companies & Distributors) | | | 665 | | | | 17,769 | |
| Granite Point Mortgage Trust (Mortgage Real Estate Investment Trusts) | | | 1,573 | | | | 28,770 | |
| Greenhill & Co., Inc. (Capital Markets) | | | 193 | | | | 3,022 | |
| Griffon Corp. (Building Products) | | | 1,222 | | | | 25,405 | |
| H.B. Fuller Co. (Chemicals) | | | 833 | | | | 38,493 | |
| Hanger, Inc.* (Health Care Providers & Services) | | | 1,071 | | | | 26,165 | |
| Harmonic, Inc.* (Communications Equipment) | | | 2,594 | | | | 18,249 | |
| Harsco Corp.* (Machinery) | | | 1,083 | | | | 16,137 | |
| Haynes International, Inc. (Metals & Mining) | | | 164 | | | | 4,397 | |
| HealthStream, Inc.* (Health Care Technology) | | | 484 | | | | 12,366 | |
| Heartland Express, Inc. (Road & Rail) | | | 631 | | | | 11,793 | |
| Helix Energy Solutions Group, Inc.* (Energy Equipment & Services) | | | 4,058 | | | | 33,844 | |
| Heska Corp.* (Health Care Equipment & Supplies) | | | 103 | | | | 10,320 | |
| Hibbett Sports, Inc.* (Specialty Retail) | | | 267 | | | | 6,616 | |
| HMS Holdings Corp.* (Health Care Technology) | | | 1,389 | | | | 37,947 | |
| Ichor Holdings, Ltd.* (Semiconductors & Semiconductor Equipment) | | | 646 | | | | 21,570 | |
| Independence Realty Trust, Inc. (Equity Real Estate Investment Trusts) | | | 1,487 | | | | 21,814 | |
| Independent Bank Corp. (Banks) | | | 642 | | | | 46,352 | |
| Innospec, Inc. (Chemicals) | | | 703 | | | | 70,813 | |
| Innovative Industrial Properties, Inc. (Equity Real Estate Investment Trusts) | | | 448 | | | | 40,096 | |
| Innoviva, Inc.* (Pharmaceuticals) | | | 1,919 | | | | 26,492 | |
| Inogen, Inc.* (Health Care Equipment & Supplies) | | | 326 | | | | 14,432 | |
| Insight Enterprises, Inc.* (Electronic Equipment, Instruments & Components) | | | 524 | | | | 34,516 | |
| Installed Building Products, Inc.* (Household Durables) | | | 612 | | | | 45,368 | |
| Inter Parfums, Inc. (Personal Products) | | | 506 | | | | 34,970 | |
| Interface, Inc. (Commercial Services & Supplies) | | | 1,089 | | | | 17,511 | |
| Iridium Communications, Inc.* (Diversified Telecommunication Services) | | | 1,336 | | | | 34,135 | |
| iRobot Corp.*(a) (Household Durables) | | | 357 | | | | 16,797 | |
| Itron, Inc.* (Electronic Equipment, Instruments & Components) | | | 1,011 | | | | 82,649 | |
| J & J Snack Foods Corp. (Food Products) | | | 428 | | | | 70,981 | |
| James River Group Holdings, Ltd. (Insurance) | | | 567 | | | | 24,347 | |
| John B. Sanfilippo & Son, Inc. (Food Products) | | | 251 | | | | 21,159 | |
| John Bean Technologies Corp. (Machinery) | | | 909 | | | | 102,707 | |
| Kaiser Aluminum Corp. (Metals & Mining) | | | 288 | | | | 28,843 | |
| KEMET Corp. (Electronic Equipment, Instruments & Components) | | | 1,667 | | | | 43,409 | |
| Kinsale Capital Group, Inc. (Insurance) | | | 591 | | | | 67,505 | |
| Knowles Corp.* (Electronic Equipment, Instruments & Components) | | | 1,778 | | | | 35,080 | |
| Koppers Holdings, Inc.* (Chemicals) | | | 593 | | | | 18,608 | |
| Kulicke & Soffa Industries, Inc. (Semiconductors & Semiconductor Equipment) | | | 910 | | | | 23,560 | |
| Lantheus Holdings, Inc.* (Health Care Equipment & Supplies) | | | 619 | | | | 10,839 | |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Small-Cap Growth ProFund :: 121
Common Stocks, continued
| | | Shares | | | Value | |
| La-Z-Boy, Inc. (Household Durables) | | | 638 | | | $ | 19,548 | |
| LCI Industries (Auto Components) | | | 718 | | | | 77,522 | |
| Lemaitre Vascular, Inc. (Health Care Equipment & Supplies) | | | 470 | | | | 16,913 | |
| Lexington Realty Trust (Equity Real Estate Investment Trusts) | | | 3,486 | | | | 38,590 | |
| LGI Homes, Inc.* (Household Durables) | | | 573 | | | | 45,691 | |
| LHC Group, Inc.* (Health Care Providers & Services) | | | 849 | | | | 123,741 | |
| Lindsay Corp. (Machinery) | | | 139 | | | | 13,904 | |
| Liquidity Services, Inc.* (Internet & Direct Marketing Retail) | | | 389 | | | | 2,069 | |
| Lithia Motors, Inc.—Class A (Specialty Retail) | | | 650 | | | | 88,166 | |
| LivePerson, Inc.* (Software) | | | 1,765 | | | | 72,383 | |
| LTC Properties, Inc. (Equity Real Estate Investment Trusts) | | | 605 | | | | 27,927 | |
| M.D.C. Holdings, Inc. (Household Durables) | | | 1,438 | | | | 60,597 | |
| M/I Homes, Inc.* (Household Durables) | | | 427 | | | | 18,955 | |
| ManTech International Corp.—Class A (IT Services) | | | 772 | | | | 61,976 | |
| Marcus & Millichap, Inc.* (Real Estate Management & Development) | | | 344 | | | | 12,178 | |
| Marten Transport, Ltd. (Road & Rail) | | | 646 | | | | 13,411 | |
| Materion Corp. (Metals & Mining) | | | 329 | | | | 17,865 | |
| MAX Holdings, Inc. (Real Estate Management & Development) | | | 364 | | | | 13,934 | |
| MaxLinear, Inc.*—Class A (Semiconductors & Semiconductor Equipment) | | | 840 | | | | 16,372 | |
| Medifast, Inc. (Personal Products) | | | 334 | | | | 32,274 | |
| Medpace Holdings* (Life Sciences Tools & Services) | | | 786 | | | | 67,242 | |
| Mercer International, Inc. (Paper & Forest Products) | | | 609 | | | | 6,705 | |
| Meritage Homes Corp.* (Household Durables) | | | 588 | | | | 41,724 | |
| Meritor, Inc.* (Machinery) | | | 1,229 | | | | 26,927 | |
| Mesa Laboratories, Inc. (Electronic Equipment, Instruments & Components) | | | 70 | | | | 18,371 | |
| Meta Financial Group, Inc. (Thrifts & Mortgage Finance) | | | 993 | | | | 36,959 | |
| Methode Electronics, Inc. (Electronic Equipment, Instruments & Components) | | | 735 | | | | 24,071 | |
| MGP Ingredients, Inc. (Beverages) | | | 167 | | | | 5,688 | |
| MicroStrategy, Inc.*—Class A (Software) | | | 132 | | | | 20,068 | |
| Mobile Mini, Inc. (Commercial Services & Supplies) | | | 658 | | | | 27,465 | |
| Momenta Pharmaceuticals, Inc.* (Biotechnology) | | | 1,986 | | | | 57,634 | |
| Monarch Casino & Resort, Inc.* (Hotels, Restaurants & Leisure) | | | 208 | | | | 11,165 | |
| Monro, Inc. (Specialty Retail) | | | 535 | | | | 33,545 | |
| Moog, Inc.—Class A (Aerospace & Defense) | | | 453 | | | | 40,593 | |
| Mueller Industries, Inc. (Machinery) | | | 1,079 | | | | 31,474 | |
| MYR Group, Inc.* (Construction & Engineering) | | | 224 | | | | 6,433 | |
| National Bank Holdings Corp. (Banks) | | | 644 | | | | 20,994 | |
| National Beverage Corp.*(a) (Beverages) | | | 160 | | | | 6,866 | |
| National Storage Affiliates Trust (Equity Real Estate Investment Trusts) | | | 969 | | | | 33,091 | |
| Natus Medical, Inc.* (Health Care Equipment & Supplies) | | | 517 | | | | 16,177 | |
| NBT Bancorp, Inc. (Banks) | | | 640 | | | | 24,186 | |
| Neenah, Inc. (Paper & Forest Products) | | | 222 | | | | 14,794 | |
| Neogen Corp.* (Health Care Equipment & Supplies) | | | 963 | | | | 64,780 | |
| NeoGenomics, Inc.* (Life Sciences Tools & Services) | | | 2,995 | | | | 96,529 | |
| Newpark Resources, Inc.* (Energy Equipment & Services) | | | 1,315 | | | | 6,575 | |
| Nexpoint Residential Trust, Inc. (Equity Real Estate Investment Trusts) | | | 493 | | | | 24,058 | |
| NextGen Healthcare, Inc.* (Health Care Technology) | | | 750 | | | | 10,395 | |
| NIC, Inc. (IT Services) | | | 1,920 | | | | 37,882 | |
| NMI Holdings, Inc.*—Class A (Thrifts & Mortgage Finance) | | | 1,949 | | | | 62,211 | |
| Northfield Bancorp, Inc. (Thrifts & Mortgage Finance) | | | 584 | | | | 9,280 | |
| Northwest Natural Holding Co. (Gas Utilities) | | | 436 | | | | 31,994 | |
| Omnicell, Inc.* (Health Care Technology) | | | 757 | | | | 61,530 | |
| OneSpan, Inc.* (Software) | | | 934 | | | | 15,523 | |
| Onto Innovation, Inc.* (Semiconductors & Semiconductor Equipment) | | | 774 | | | | 29,366 | |
| Orthofix Medical, Inc.* (Health Care Equipment & Supplies) | | | 241 | | | | 10,426 | |
| OSI Systems, Inc.* (Electronic Equipment, Instruments & Components) | | | 489 | | | | 42,318 | |
| Pacira BioSciences, Inc.* (Pharmaceuticals) | | | 814 | | | | 35,181 | |
| Par Pacific Holdings, Inc.* (Oil, Gas & Consumable Fuels) | | | 1,057 | | | | 21,267 | |
| Patrick Industries, Inc. (Building Products) | | | 640 | | | | 33,203 | |
| PC Connection, Inc. (Electronic Equipment, Instruments & Components) | | | 133 | | | | 6,629 | |
| PDC Energy, Inc.* (Oil, Gas & Consumable Fuels) | | | 1,422 | | | | 30,700 | |
| PDF Solutions, Inc.* (Semiconductors & Semiconductor Equipment) | | | 503 | | | | 7,927 | |
| Penn Virginia Corp.* (Oil, Gas & Consumable Fuels) | | | 386 | | | | 8,249 | |
| PennyMac Mortgage Investment Trust (Mortgage Real Estate Investment Trusts) | | | 2,871 | | | | 66,751 | |
| Perdoceo Education Corp.* (Diversified Consumer Services) | | | 888 | | | | 15,789 | |
| Perficient, Inc.* (IT Services) | | | 937 | | | | 46,569 | |
| PetMed Express, Inc.(a) (Internet & Direct Marketing Retail) | | | 301 | | | | 7,588 | |
| Piper Sandler Cos. (Capital Markets) | | | 215 | | | | 17,722 | |
| Plexus Corp.* (Electronic Equipment, Instruments & Components) | | | 837 | | | | 59,527 | |
| Power Integrations, Inc. (Semiconductors & Semiconductor Equipment) | | | 844 | | | | 82,433 | |
| PRA Group, Inc.* (Consumer Finance) | | | 613 | | | | 21,676 | |
| Preferred Bank (Banks) | | | 390 | | | | 23,443 | |
| PriceSmart, Inc. (Food & Staples Retailing) | | | 282 | | | | 17,275 | |
| Progenics Pharmaceuticals, Inc.* (Biotechnology) | | | 1,192 | | | | 5,316 | |
| Progress Software Corp. (Software) | | | 1,284 | | | | 57,947 | |
| Proto Labs, Inc.* (Machinery) | | | 492 | | | | 50,922 | |
| QEP Resources, Inc. (Oil, Gas & Consumable Fuels) | | | 3,209 | | | | 10,173 | |
| Qualys, Inc.* (Software) | | | 956 | | | | 81,966 | |
| QuinStreet, Inc.* (Interactive Media & Services) | | | 1,323 | | | | 17,139 | |
| R. R. Donnelley & Sons Co. (Commercial Services & Supplies) | | | 2,036 | | | | 4,886 | |
See accompanying notes to the financial statements.
122 :: Small-Cap Growth ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| RadNet, Inc.* (Health Care Providers & Services) | | | 1,196 | | | $ | 26,994 | |
| Rambus, Inc.* (Semiconductors & Semiconductor Equipment) | | | 1,696 | | | | 26,916 | |
| Raven Industries, Inc. (Industrial Conglomerates) | | | 1,026 | | | | 32,175 | |
| Regenxbio, Inc.* (Biotechnology) | | | 900 | | | | 39,177 | |
| Rent-A-Center, Inc. (Specialty Retail) | | | 1,415 | | | | 41,219 | |
| Retail Opportunity Investments Corp. (Equity Real Estate Investment Trusts) | | | 1,830 | | | | 30,323 | |
| REX American Resources Corp.* (Oil, Gas & Consumable Fuels) | | | 77 | | | | 5,802 | |
| Ring Energy, Inc.* (Oil, Gas & Consumable Fuels) | | | 1,713 | | | | 3,700 | |
| Rogers Corp.* (Electronic Equipment, Instruments & Components) | | | 533 | | | | 62,761 | |
| Ruth's Hospitality Group, Inc. (Hotels, Restaurants & Leisure) | | | 507 | | | | 10,394 | |
| Safehold, Inc. (Equity Real Estate Investment Trusts) | | | 357 | | | | 16,051 | |
| Safety Insurance Group, Inc. (Insurance) | | | 201 | | | | 18,508 | |
| Saia, Inc.* (Road & Rail) | | | 743 | | | | 64,716 | |
| Saul Centers, Inc. (Equity Real Estate Investment Trusts) | | | 193 | | | | 9,530 | |
| Schweitzer-Mauduit International, Inc. (Paper & Forest Products) | | | 886 | | | | 31,037 | |
| Seacoast Banking Corp.* (Banks) | | | 841 | | | | 22,833 | |
| SEACOR Holdings, Inc.* (Energy Equipment & Services) | | | 272 | | | | 10,224 | |
| Select Medical Holdings Corp.* (Health Care Providers & Services) | | | 1,603 | | | | 36,613 | |
| ServisFirst Bancshares, Inc. (Banks) | | | 1,323 | | | | 48,620 | |
| Shake Shack, Inc.*—Class A (Hotels, Restaurants & Leisure) | | | 890 | | | | 60,031 | |
| Shenandoah Telecommunications Co. (Wireless Telecommunication Services) | | | 752 | | | | 30,343 | |
| Shutterstock, Inc.* (Internet & Direct Marketing Retail) | | | 548 | | | | 23,745 | |
| Simpson Manufacturing Co., Inc. (Building Products) | | | 1,157 | | | | 95,649 | |
| Sleep Number Corp.* (Specialty Retail) | | | 816 | | | | 42,097 | |
| South Jersey Industries, Inc. (Gas Utilities) | | | 1,749 | | | | 53,869 | |
| Spectrum Pharmaceuticals, Inc.* (Biotechnology) | | | 1,363 | | | | 3,448 | |
| SPS Commerce, Inc.* (Software) | | | 1,000 | | | | 56,830 | |
| SPX Corp.* (Machinery) | | | 1,266 | | | | 62,123 | |
| SPX FLOW, Inc.* (Machinery) | | | 1,221 | | | | 53,407 | |
| Stamps.com, Inc.* (Internet & Direct Marketing Retail) | | | 259 | | | | 19,293 | |
| Stepan Co. (Chemicals) | | | 317 | | | | 31,272 | |
| Steven Madden, Ltd. (Textiles, Apparel & Luxury Goods) | | | 2,220 | | | | 85,603 | |
| Strategic Education, Inc. (Diversified Consumer Services) | | | 335 | | | | 54,367 | |
| Supernus Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 842 | | | | 19,257 | |
| Surmodics, Inc.* (Health Care Equipment & Supplies) | | | 213 | | | | 8,390 | |
| Sykes Enterprises, Inc.* (IT Services) | | | 586 | | | | 19,684 | |
| Tabula Rasa Healthcare, Inc.* (Health Care Technology) | | | 220 | | | | 12,775 | |
| Tactile Systems Technology, Inc.* (Health Care Equipment & Supplies) | | | 295 | | | | 16,576 | |
| Talos Energy, Inc.* (Oil, Gas & Consumable Fuels) | | | 575 | | | | 12,616 | |
| TechTarget, Inc.* (Media) | | | 658 | | | | 16,707 | |
| Tennant Co. (Machinery) | | | 525 | | | | 40,541 | |
| The Buckle, Inc. (Specialty Retail) | | | 516 | | | | 12,596 | |
| The E.W. Scripps Co.—Class A (Media) | | | 736 | | | | 8,935 | |
| The Ensign Group, Inc. (Health Care Providers & Services) | | | 877 | | | | 39,640 | |
| The Pennant Group, Inc.* (Health Care Providers & Services) | | | 750 | | | | 19,800 | |
| The St Joe Co.* (Real Estate Management & Development) | | | 904 | | | | 18,993 | |
| Tivity Health, Inc.* (Health Care Providers & Services) | | | 1 | | | | 22 | |
| Tompkins Financial Corp. (Banks) | | | 197 | | | | 16,960 | |
| TopBuild Corp.* (Household Durables) | | | 974 | | | | 111,533 | |
| Tredegar Corp. (Chemicals) | | | 411 | | | | 8,364 | |
| Triumph Bancorp, Inc.* (Banks) | | | 468 | | | | 18,243 | |
| Triumph Group, Inc. (Aerospace & Defense) | | | 1,438 | | | | 29,378 | |
| TrustCo Bank Corp. (Thrifts & Mortgage Finance) | | | 1,448 | | | | 11,483 | |
| TTEC Holdings, Inc. (IT Services) | | | 507 | | | | 20,138 | |
| U.S. Ecology, Inc. (Commercial Services & Supplies) | | | 349 | | | | 18,849 | |
| U.S. Physical Therapy, Inc. (Health Care Providers & Services) | | | 367 | | | | 42,990 | |
| Ultra Clean Holdings, Inc.* (Semiconductors & Semiconductor Equipment) | | | 1,143 | | | | 26,300 | |
| UniFirst Corp. (Commercial Services & Supplies) | | | 440 | | | | 89,730 | |
| United Community Banks, Inc. (Banks) | | | 1,586 | | | | 44,281 | |
| Universal Electronics, Inc.* (Household Durables) | | | 401 | | | | 19,862 | |
| Universal Forest Products, Inc. (Building Products) | | | 1,761 | | | | 84,352 | |
| Universal Health Realty Income Trust (Equity Real Estate Investment Trusts) | | | 363 | | | | 44,776 | |
| Urstadt Biddle Properties, Inc.—Class A (Equity Real Estate Investment Trusts) | | | 541 | | | | 12,264 | |
| Vanda Pharmaceuticals, Inc.* (Biotechnology) | | | 873 | | | | 11,131 | |
| Varex Imaging Corp.* (Health Care Equipment & Supplies) | | | 660 | | | | 18,249 | |
| Vector Group, Ltd. (Tobacco) | | | 2,117 | | | | 27,817 | |
| Veeco Instruments, Inc.* (Semiconductors & Semiconductor Equipment) | | | 1,404 | | | | 17,901 | |
| Veritex Holdings, Inc. (Banks) | | | 677 | | | | 19,173 | |
| Viad Corp. (Commercial Services & Supplies) | | | 349 | | | | 22,685 | |
| Viavi Solutions, Inc.* (Communications Equipment) | | | 6,593 | | | | 92,962 | |
| Vicor Corp.* (Electrical Equipment) | | | 526 | | | | 26,327 | |
| Virtus Investment Partners, Inc. (Capital Markets) | | | 184 | | | | 22,639 | |
| Virtusa Corp.* (IT Services) | | | 857 | | | | 35,685 | |
| Vonage Holdings Corp.* (Diversified Telecommunication Services) | | | 2,946 | | | | 26,131 | |
| Walker & Dunlop, Inc. (Thrifts & Mortgage Finance) | | | 823 | | | | 54,623 | |
| Washington Real Estate Investment Trust (Equity Real Estate Investment Trusts) | | | 1,110 | | | | 33,788 | |
| Watts Water Technologies, Inc.—Class A (Machinery) | | | 790 | | | | 78,770 | |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Small-Cap Growth ProFund :: 123
Common Stocks, continued
| | | Shares | | | Value | |
| WD-40 Co. (Household Products) | | | 393 | | | $ | 73,420 | |
| Westamerica Bancorp (Banks) | | | 420 | | | | 26,611 | |
| Wingstop, Inc. (Hotels, Restaurants & Leisure) | | | 844 | | | | 78,297 | |
| Winnebago Industries, Inc. (Automobiles) | | | 966 | | | | 52,898 | |
| Xencor, Inc.* (Biotechnology) | | | 807 | | | | 27,390 | |
| Xperi Corp. (Semiconductors & Semiconductor Equipment) | | | 1,421 | | | | 22,864 | |
| Zumiez, Inc.* (Specialty Retail) | | | 585 | | | | 18,234 | |
TOTAL COMMON STOCKS
(Cost $8,480,206) | | | | | | | 11,145,065 | |
Repurchase Agreements(b) (0.3%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $32,004 | | $ | 32,000 | | | $ | 32,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $32,000) | | | | | | | 32,000 | |
Collateral for Securities Loaned (0.5%)
| | | Shares | | | Value | |
| BlackRock Liquidity Funds FedFund Portfolio—Institutional Shares, 1.81%(c) | | | 25,868 | | | $ | 25,868 | |
| Invesco Government & Agency Portfolio—Institutional Shares, 1.77%(c) | | | 7,926 | | | | 7,926 | |
| Fidelity Investments Money Market Government Portfolio—Class I, 1.80%(c) | | | 24,610 | | | | 24,610 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $58,404) | | | | | | | 58,404 | |
TOTAL INVESTMENT SECURITIES
(Cost $8,570,610)—100.8% | | | | | | | 11,235,469 | |
| Net other assets (liabilities)—(0.8)% | | | | | | | (85,905 | ) |
| NET ASSETS—100.0% | | | | | | $ | 11,149,564 | |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2020. The total value of securities on loan as of January 31, 2020 was $54,512. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (c) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2020. |
See accompanying notes to the financial statements.
124 :: Small-Cap Growth ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Small-Cap Growth ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 232,390 | | | | 2.1 | % |
| Air Freight & Logistics | | | 52,884 | | | | 0.5 | % |
| Airlines | | | 63,687 | | | | 0.6 | % |
| Auto Components | | | 202,599 | | | | 1.8 | % |
| Automobiles | | | 52,898 | | | | 0.5 | % |
| Banks | | | 598,313 | | | | 5.4 | % |
| Beverages | | | 48,571 | | | | 0.4 | % |
| Biotechnology | | | 237,105 | | | | 2.1 | % |
| Building Products | | | 396,659 | | | | 3.6 | % |
| Capital Markets | | | 61,107 | | | | 0.5 | % |
| Chemicals | | | 274,818 | | | | 2.5 | % |
| Commercial Services & Supplies | | | 234,835 | | | | 2.1 | % |
| Communications Equipment | | | 164,851 | | | | 1.5 | % |
| Construction & Engineering | | | 40,120 | | | | 0.4 | % |
| Consumer Finance | | | 45,934 | | | | 0.4 | % |
| Diversified Consumer Services | | | 70,156 | | | | 0.6 | % |
| Diversified Telecommunication Services | | | 145,027 | | | | 1.3 | % |
| Electric Utilities | | | 46,097 | | | | 0.4 | % |
| Electrical Equipment | | | 45,661 | | | | 0.4 | % |
| Electronic Equipment, Instruments & Components | | | 571,127 | | | | 5.1 | % |
| Energy Equipment & Services | | | 55,913 | | | | 0.5 | % |
| Entertainment | | | 19,500 | | | | 0.2 | % |
| Equity Real Estate Investment Trusts | | | 645,200 | | | | 5.8 | % |
| Food & Staples Retailing | | | 17,275 | | | | 0.2 | % |
| Food Products | | | 112,134 | | | | 1.0 | % |
| Gas Utilities | | | 85,863 | | | | 0.8 | % |
| Health Care Equipment & Supplies | | | 361,670 | | | | 3.2 | % |
| Health Care Providers & Services | | | 486,928 | | | | 4.4 | % |
| Health Care Technology | | | 135,013 | | | | 1.2 | % |
| Hotels, Restaurants & Leisure | | | 274,211 | | | | 2.5 | % |
| Household Durables | | | 446,445 | | | | 4.0 | % |
| Household Products | | | 73,420 | | | | 0.7 | % |
| Industrial Conglomerates | | | 32,175 | | | | 0.3 | % |
| Insurance | | | 189,799 | | | | 1.7 | % |
| Interactive Media & Services | | | 23,202 | | | | 0.2 | % |
| Internet & Direct Marketing Retail | | | 52,695 | | | | 0.5 | % |
| IT Services | | | 428,879 | | | | 3.8 | % |
| Leisure Products | | | 57,834 | | | | 0.5 | % |
| Life Sciences Tools & Services | | | 163,771 | | | | 1.5 | % |
| Machinery | | | 913,958 | | | | 8.2 | % |
| Media | | | 25,642 | | | | 0.2 | % |
| Metals & Mining | | | 81,579 | | | | 0.7 | % |
| Mortgage Real Estate Investment Trusts | | | 107,924 | | | | 1.0 | % |
| Oil, Gas & Consumable Fuels | | | 113,273 | | | | 1.0 | % |
| Paper & Forest Products | | | 52,536 | | | | 0.5 | % |
| Personal Products | | | 67,244 | | | | 0.6 | % |
| Pharmaceuticals | | | 145,784 | | | | 1.3 | % |
| Professional Services | | | 115,273 | | | | 1.0 | % |
| Real Estate Management & Development | | | 114,765 | | | | 1.0 | % |
| Road & Rail | | | 89,920 | | | | 0.8 | % |
| Semiconductors & Semiconductor Equipment | | | 584,808 | | | | 5.2 | % |
| Software | | | 472,018 | | | | 4.2 | % |
| Specialty Retail | | | 304,238 | | | | 2.7 | % |
| Technology Hardware, Storage & Peripherals | | | 62,383 | | | | 0.6 | % |
| Textiles, Apparel & Luxury Goods | | | 160,172 | | | | 1.4 | % |
| Thrifts & Mortgage Finance | | | 223,201 | | | | 2.0 | % |
| Tobacco | | | 27,817 | | | | 0.2 | % |
| Trading Companies & Distributors | | | 63,284 | | | | 0.6 | % |
| Water Utilities | | | 142,137 | | | | 1.3 | % |
| Wireless Telecommunication Services | | | 30,343 | | | | 0.3 | % |
| Other** | | | 4,499 | | | | NM | |
| Total | | $ | 11,149,564 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
| NM | Not meaningful, amount is less than 0.05%. |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Small-Cap Value ProFund :: 125
Common Stocks (100.2%)
| | | Shares | | | Value | |
| AAR Corp. (Aerospace & Defense) | | | 476 | | | $ | 20,268 | |
| Abercrombie & Fitch Co.—Class A (Specialty Retail) | | | 911 | | | | 14,904 | |
| ABM Industries, Inc. (Commercial Services & Supplies) | | | 964 | | | | 36,767 | |
| Acadia Realty Trust (Equity Real Estate Investment Trusts) | | | 568 | | | | 14,098 | |
| Acorda Therapeutics, Inc.* (Biotechnology) | | | 689 | | | | 1,399 | |
| ADTRAN, Inc. (Communications Equipment) | | | 691 | | | | 6,254 | |
| AdvanSix, Inc.* (Chemicals) | | | 406 | | | | 7,600 | |
| Aegion Corp.* (Construction & Engineering) | | | 446 | | | | 9,321 | |
| AeroVironment, Inc.* (Aerospace & Defense) | | | 129 | | | | 8,593 | |
| AK Steel Holding Corp.* (Metals & Mining) | | | 4,579 | | | | 12,638 | |
| Akorn, Inc.* (Pharmaceuticals) | | | 871 | | | | 1,333 | |
| Allegiance Bancshares, Inc.* (Banks) | | | 277 | | | | 10,304 | |
| AMAG Pharmaceuticals, Inc.* (Biotechnology) | | | 492 | | | | 4,359 | |
| Ambac Financial Group, Inc.* (Insurance) | | | 661 | | | | 14,165 | |
| American Assets Trust, Inc. (Equity Real Estate Investment Trusts) | | | 278 | | | | 12,666 | |
| American Axle & Manufacturing Holdings, Inc.* (Auto Components) | | | 1,629 | | | | 15,052 | |
| American Equity Investment Life Holding Co. (Insurance) | | | 1,320 | | | | 34,860 | |
| American Public Education, Inc.* (Diversified Consumer Services) | | | 224 | | | | 5,338 | |
| American Vanguard Corp. (Chemicals) | | | 180 | | | | 3,362 | |
| Ameris Bancorp (Banks) | | | 522 | | | | 20,979 | |
| AMERISAFE, Inc. (Insurance) | | | 145 | | | | 9,921 | |
| AMN Healthcare Services, Inc.* (Health Care Providers & Services) | | | 313 | | | | 21,090 | |
| Amphastar Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 242 | | | | 4,576 | |
| AngioDynamics, Inc.* (Health Care Equipment & Supplies) | | | 545 | | | | 7,505 | |
| Anixter International, Inc.* (Electronic Equipment, Instruments & Components) | | | 436 | | | | 42,554 | |
| Apogee Enterprises, Inc. (Building Products) | | | 193 | | | | 6,141 | |
| Apollo Commercial Real Estate Finance, Inc. (Mortgage Real Estate Investment Trusts) | | | 2,068 | | | | 37,803 | |
| Applied Industrial Technologies, Inc. (Trading Companies & Distributors) | | | 241 | | | | 15,561 | |
| Applied Optoelectronics, Inc.*(a)(Communications Equipment) | | | 277 | | | | 3,130 | |
| ArcBest Corp. (Road & Rail) | | | 371 | | | | 8,277 | |
| Archrock, Inc. (Energy Equipment & Services) | | | 1,850 | | | | 15,448 | |
| Arcosa, Inc. (Construction & Engineering) | | | 701 | | | | 30,669 | |
| Arlo Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | | 532 | | | | 2,272 | |
| Armada Hoffler Properties, Inc. (Equity Real Estate Investment Trusts) | | | 450 | | | | 8,253 | |
| ARMOUR Residential REIT, Inc. (Mortgage Real Estate Investment Trusts) | | | 528 | | | | 10,169 | |
| Asbury Automotive Group, Inc.* (Specialty Retail) | | | 138 | | | | 13,310 | |
| Astec Industries, Inc. (Machinery) | | | 326 | | | | 13,444 | |
| Atlas Air Worldwide Holdings, Inc.* (Air Freight & Logistics) | | | 375 | | | | 8,381 | |
| ATN International, Inc. (Diversified Telecommunication Services) | | | 158 | | | | 9,143 | |
| Avista Corp. (Multi-Utilities) | | | 967 | | | | 49,172 | |
| Axcelis Technologies, Inc.* (Semiconductors & Semiconductor Equipment) | | | 225 | | | | 5,434 | |
| Axos Financial, Inc.*—Class I (Thrifts & Mortgage Finance) | | | 262 | | | | 7,381 | |
| AZZ, Inc. (Electrical Equipment) | | | 379 | | | | 15,637 | |
| B&G Foods, Inc.(a)—Class A (Food Products) | | | 928 | | | | 14,904 | |
| Badger Meter, Inc. (Electronic Equipment, Instruments & Components) | | | 155 | | | | 9,154 | |
| Banc of California, Inc. (Banks) | | | 649 | | | | 10,358 | |
| Banner Corp. (Banks) | | | 540 | | | | 27,837 | |
| Barnes & Noble Education, Inc.* (Specialty Retail) | | | 556 | | | | 1,913 | |
| Barnes Group, Inc. (Machinery) | | | 262 | | | | 16,551 | |
| Bel Fuse, Inc.—Class B (Electronic Equipment, Instruments & Components) | | | 146 | | | | 2,529 | |
| Benchmark Electronics, Inc. (Electronic Equipment, Instruments & Components) | | | 267 | | | | 8,218 | |
| Berkshire Hills Bancorp, Inc. (Banks) | | | 623 | | | | 17,537 | |
| Big Lots, Inc. (Multiline Retail) | | | 566 | | | | 15,316 | |
| BJ's Restaurants, Inc. (Hotels, Restaurants & Leisure) | | | 277 | | | | 11,019 | |
| Bloomin' Brands, Inc. (Hotels, Restaurants & Leisure) | | | 404 | | | | 8,391 | |
| Blucora, Inc.* (Capital Markets) | | | 313 | | | | 7,058 | |
| Boise Cascade Co. (Paper & Forest Products) | | | 565 | | | | 20,453 | |
| Bonanza Creek Energy, Inc.* (Oil, Gas & Consumable Fuels) | | | 269 | | | | 4,893 | |
| Boston Private Financial Holdings, Inc. (Banks) | | | 1,205 | | | | 13,737 | |
| Bottomline Technologies, Inc.* (Software) | | | 232 | | | | 12,435 | |
| Brady Corp.—Class A (Commercial Services & Supplies) | | | 231 | | | | 12,790 | |
| Briggs & Stratton Corp. (Machinery) | | | 612 | | | | 2,246 | |
| Brookline Bancorp, Inc. (Banks) | | | 647 | | | | 9,834 | |
| Cadence Bancorp. (Banks) | | | 1,855 | | | | 28,994 | |
| CalAmp Corp.* (Communications Equipment) | | | 494 | | | | 4,752 | |
| Calavo Growers, Inc. (Food Products) | | | 105 | | | | 8,044 | |
| Caleres, Inc. (Specialty Retail) | | | 590 | | | | 10,355 | |
| California Water Service Group (Water Utilities) | | | 230 | | | | 12,089 | |
| Callon Petroleum Co.* (Oil, Gas & Consumable Fuels) | | | 2,655 | | | | 7,965 | |
| Cal-Maine Foods, Inc. (Food Products) | | | 439 | | | | 15,668 | |
| Capstead Mortgage Corp. (Mortgage Real Estate Investment Trusts) | | | 1,368 | | | | 11,245 | |
| Cardtronics PLC*—Class A (IT Services) | | | 177 | | | | 7,965 | |
| Care.com, Inc.* (Interactive Media & Services) | | | 204 | | | | 3,054 | |
| CareTrust REIT, Inc. (Equity Real Estate Investment Trusts) | | | 706 | | | | 15,659 | |
| CBL & Associates Properties, Inc. (Equity Real Estate Investment Trusts) | | | 2,508 | | | | 2,107 | |
| Cedar Realty Trust, Inc. (Equity Real Estate Investment Trusts) | | | 1,240 | | | | 3,224 | |
| Central Garden & Pet Co.* (Household Products) | | | 142 | | | | 4,574 | |
| Central Garden & Pet Co.*—Class A (Household Products) | | | 582 | | | | 17,437 | |
| Central Pacific Financial Corp. (Banks) | | | 194 | | | | 5,380 | |
| Century Aluminum Co.* (Metals & Mining) | | | 719 | | | | 3,804 | |
| Century Communities, Inc.* (Household Durables) | | | 203 | | | | 6,023 | |
| CEVA, Inc.* (Semiconductors & Semiconductor Equipment) | | | 146 | | | | 3,993 | |
See accompanying notes to the financial statements.
126 :: Small-Cap Value ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Chart Industries, Inc.* (Machinery) | | | 214 | | | $ | 13,692 | |
| Chatham Lodging Trust (Equity Real Estate Investment Trusts) | | | 681 | | | | 11,134 | |
| Chefs' Warehouse, Inc.* (Food & Staples Retailing) | | | 370 | | | | 13,468 | |
| Chico's FAS, Inc. (Specialty Retail) | | | 1,714 | | | | 6,667 | |
| Cincinnati Bell, Inc.* (Diversified Telecommunication Services) | | | 729 | | | | 9,995 | |
| City Holding Co. (Banks) | | | 95 | | | | 7,190 | |
| Clearwater Paper Corp.* (Paper & Forest Products) | | | 240 | | | | 6,768 | |
| Cleveland-Cliffs, Inc.(a) (Metals & Mining) | | | 1,720 | | | | 12,074 | |
| Cohu, Inc. (Semiconductors & Semiconductor Equipment) | | | 329 | | | | 7,360 | |
| Columbia Banking System, Inc. (Banks) | | | 1,045 | | | | 40,442 | |
| Comfort Systems USA, Inc. (Construction & Engineering) | | | 165 | | | | 7,656 | |
| Community Bank System, Inc. (Banks) | | | 323 | | | | 21,405 | |
| Computer Programs & Systems, Inc. (Health Care Technology) | | | 180 | | | | 4,680 | |
| Conn's, Inc.* (Specialty Retail) | | | 275 | | | | 2,409 | |
| CONSOL Energy, Inc.* (Oil, Gas & Consumable Fuels) | | | 375 | | | | 3,049 | |
| Consolidated Communications Holdings, Inc. (Diversified Telecommunication Services) | | | 1,039 | | | | 5,018 | |
| Cooper Tire & Rubber Co. (Auto Components) | | | 727 | | | | 19,258 | |
| Cooper-Standard Holding, Inc.* (Auto Components) | | | 243 | | | | 6,444 | |
| Core-Mark Holding Co., Inc. (Distributors) | | | 661 | | | | 15,494 | |
| Covetrus, Inc.* (Health Care Providers & Services) | | | 1,414 | | | | 17,392 | |
| Cross Country Healthcare, Inc.* (Health Care Providers & Services) | | | 533 | | | | 5,277 | |
| CryoLife, Inc.* (Health Care Equipment & Supplies) | | | 243 | | | | 7,227 | |
| CTS Corp. (Electronic Equipment, Instruments & Components) | | | 216 | | | | 6,331 | |
| Cubic Corp. (Aerospace & Defense) | | | 223 | | | | 14,560 | |
| Customers Bancorp, Inc.* (Banks) | | | 417 | | | | 8,915 | |
| CVB Financial Corp. (Banks) | | | 1,003 | | | | 20,832 | |
| Cytokinetics, Inc.* (Biotechnology) | | | 385 | | | | 4,736 | |
| Daktronics, Inc. (Electronic Equipment, Instruments & Components) | | | 540 | | | | 3,186 | |
| Darling Ingredients, Inc.* (Food Products) | | | 2,372 | | | | 64,351 | |
| Dave & Buster's Entertainment, Inc. (Hotels, Restaurants & Leisure) | | | 193 | | | | 8,523 | |
| Denbury Resources, Inc.* (Oil, Gas & Consumable Fuels) | | | 7,133 | | | | 7,026 | |
| Designer Brands, Inc. (Specialty Retail) | | | 800 | | | | 11,392 | |
| Diamond Offshore Drilling, Inc.*(a) (Energy Equipment & Services) | | | 936 | | | | 4,334 | |
| DiamondRock Hospitality Co. (Equity Real Estate Investment Trusts) | | | 2,901 | | | | 28,053 | |
| Dime Community Bancshares, Inc. (Thrifts & Mortgage Finance) | | | 447 | | | | 8,676 | |
| Diplomat Pharmacy, Inc.* (Health Care Providers & Services) | | | 832 | | | | 3,311 | |
| Donnelley Financial Solutions, Inc.* (Capital Markets) | | | 451 | | | | 4,086 | |
| Dorian LPG, Ltd.* (Oil, Gas & Consumable Fuels) | | | 309 | | | | 4,054 | |
| Dorman Products, Inc.* (Auto Components) | | | 195 | | | | 13,611 | |
| Dril-Quip, Inc.* (Energy Equipment & Services) | | | 525 | | | | 21,472 | |
| DSP Group, Inc.* (Semiconductors & Semiconductor Equipment) | | | 176 | | | | 2,545 | |
| DXP Enterprises, Inc.* (Trading Companies & Distributors) | | | 232 | | | | 8,043 | |
| Eagle Bancorp, Inc. (Banks) | | | 487 | | | | 21,282 | |
| Easterly Government Properties, Inc. (Equity Real Estate Investment Trusts) | | | 472 | | | | 11,427 | |
| Ebix, Inc. (Software) | | | 104 | | | | 3,581 | |
| Echo Global Logistics, Inc.* (Air Freight & Logistics) | | | 396 | | | | 7,674 | |
| El Paso Electric Co. (Electric Utilities) | | | 247 | | | | 16,818 | |
| El Pollo Loco Holdings, Inc.* (Hotels, Restaurants & Leisure) | | | 133 | | | | 1,833 | |
| Emergent BioSolutions, Inc.* (Biotechnology) | | | 247 | | | | 13,607 | |
| Employers Holdings, Inc. (Insurance) | | | 461 | | | | 19,662 | |
| Encore Capital Group, Inc.* (Consumer Finance) | | | 400 | | | | 13,581 | |
| Encore Wire Corp. (Electrical Equipment) | | | 125 | | | | 6,789 | |
| Endo International PLC* (Pharmaceuticals) | | | 2,921 | | | | 16,562 | |
| Enerpac Tool Group Corp. (Machinery) | | | 420 | | | | 9,706 | |
| EnPro Industries, Inc. (Machinery) | | | 301 | | | | 17,590 | |
| ePlus, Inc.* (Electronic Equipment, Instruments & Components) | | | 106 | | | | 8,450 | |
| Era Group, Inc.* (Energy Equipment & Services) | | | 286 | | | | 2,843 | |
| Ethan Allen Interiors, Inc. (Household Durables) | | | 355 | | | | 5,733 | |
| Express, Inc.* (Specialty Retail) | | | 972 | | | | 3,898 | |
| Exterran Corp.* (Energy Equipment & Services) | | | 406 | | | | 2,192 | |
| EZCORP, Inc.*—Class A (Consumer Finance) | | | 760 | | | | 4,727 | |
| FARO Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | | 124 | | | | 6,406 | |
| Ferro Corp.* (Chemicals) | | | 1,188 | | | | 16,252 | |
| FGL Holdings (Diversified Financial Services) | | | 1,895 | | | | 18,287 | |
| Fiesta Restaurant Group, Inc.* (Hotels, Restaurants & Leisure) | | | 311 | | | | 3,088 | |
| First BanCorp. (Banks) | | | 1,670 | | | | 15,481 | |
| First Commonwealth Financial Corp. (Banks) | | | 627 | | | | 8,477 | |
| First Financial Bancorp (Banks) | | | 1,439 | | | | 34,594 | |
| First Midwest Bancorp, Inc. (Banks) | | | 1,594 | | | | 31,784 | |
| Flagstar Bancorp, Inc. (Thrifts & Mortgage Finance) | | | 211 | | | | 7,436 | |
| Forrester Research, Inc.* (Professional Services) | | | 68 | | | | 2,813 | |
| Fossil Group, Inc.* (Textiles, Apparel & Luxury Goods) | | | 673 | | | | 4,529 | |
| Foundation Building Materials, Inc.* (Trading Companies & Distributors) | | | 122 | | | | 2,175 | |
| Four Corners Property Trust, Inc. (Equity Real Estate Investment Trusts) | | | 410 | | | | 12,419 | |
| Franklin Financial Network, Inc. (Banks) | | | 195 | | | | 7,190 | |
| Franklin Street Properties Corp. (Equity Real Estate Investment Trusts) | | | 1,552 | | | | 11,795 | |
| Fresh Del Monte Produce, Inc. (Food Products) | | | 439 | | | | 13,776 | |
| FutureFuel Corp. (Chemicals) | | | 374 | | | | 4,099 | |
| GameStop Corp.(a)—Class A (Specialty Retail) | | | 951 | | | | 3,652 | |
| Gannett Co., Inc. (Media) | | | 1,779 | | | | 10,870 | |
| Garrett Motion, Inc.* (Auto Components) | | | 1,082 | | | | 9,110 | |
| GCP Applied Technologies, Inc.* (Chemicals) | | | 780 | | | | 17,331 | |
| Genesco, Inc.* (Specialty Retail) | | | 206 | | | | 8,100 | |
| Gentherm, Inc.* (Auto Components) | | | 246 | | | | 11,343 | |
| Getty Realty Corp. (Equity Real Estate Investment Trusts) | | | 233 | | | | 7,344 | |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Small-Cap Value ProFund :: 127
Common Stocks, continued
| | | Shares | | | Value | |
| Gibraltar Industries, Inc.* (Building Products) | | | 135 | | | $ | 7,360 | |
| G-III Apparel Group, Ltd.* (Textiles, Apparel & Luxury Goods) | | | 624 | | | | 16,979 | |
| Glacier Bancorp, Inc. (Banks) | | | 508 | | | | 21,524 | |
| Global Net Lease, Inc. (Equity Real Estate Investment Trusts) | | | 1,296 | | | | 26,866 | |
| GMS, Inc.* (Trading Companies & Distributors) | | | 275 | | | | 7,348 | |
| Granite Construction, Inc. (Construction & Engineering) | | | 678 | | | | 18,394 | |
| Great Western Bancorp, Inc. (Banks) | | | 815 | | | | 24,083 | |
| Green Plains, Inc. (Oil, Gas & Consumable Fuels) | | | 490 | | | | 6,110 | |
| Greenhill & Co., Inc. (Capital Markets) | | | 119 | | | | 1,864 | |
| Group 1 Automotive, Inc. (Specialty Retail) | | | 254 | | | | 25,595 | |
| Guess?, Inc. (Specialty Retail) | | | 618 | | | | 13,157 | |
| Gulfport Energy Corp.* (Oil, Gas & Consumable Fuels) | | | 2,100 | | | | 3,255 | |
| H.B. Fuller Co. (Chemicals) | | | 318 | | | | 14,695 | |
| Hanmi Financial Corp. (Banks) | | | 451 | | | | 7,586 | |
| Harsco Corp.* (Machinery) | | | 593 | | | | 8,836 | |
| Haverty Furniture Cos., Inc. (Specialty Retail) | | | 262 | | | | 5,274 | |
| Hawaiian Holdings, Inc. (Airlines) | | | 675 | | | | 18,819 | |
| Hawkins, Inc. (Chemicals) | | | 138 | | | | 5,766 | |
| Haynes International, Inc. (Metals & Mining) | | | 99 | | | | 2,654 | |
| HCI Group, Inc. (Insurance) | | | 93 | | | | 4,117 | |
| HealthStream, Inc.* (Health Care Technology) | | | 126 | | | | 3,219 | |
| Heartland Express, Inc. (Road & Rail) | | | 359 | | | | 6,710 | |
| Heidrick & Struggles International, Inc. (Professional Services) | | | 277 | | | | 7,872 | |
| Heritage Financial Corp. (Banks) | | | 530 | | | | 13,663 | |
| Hersha Hospitality Trust (Equity Real Estate Investment Trusts) | | | 521 | | | | 6,757 | |
| Heska Corp.* (Health Care Equipment & Supplies) | | | 51 | | | | 5,110 | |
| Hibbett Sports, Inc.* (Specialty Retail) | | | 121 | | | | 2,998 | |
| HighPoint Resources Corp.* (Oil, Gas & Consumable Fuels) | | | 1,576 | | | | 1,828 | |
| Hillenbrand, Inc. (Machinery) | | | 1,076 | | | | 31,237 | |
| HMS Holdings Corp.* (Health Care Technology) | | | 574 | | | | 15,682 | |
| HomeStreet, Inc.* (Thrifts & Mortgage Finance) | | | 353 | | | | 11,335 | |
| Hope Bancorp, Inc. (Banks) | | | 1,836 | | | | 25,530 | |
| Horace Mann Educators Corp. (Insurance) | | | 597 | | | | 25,676 | |
| Hub Group, Inc.*—Class A (Air Freight & Logistics) | | | 484 | | | | 25,590 | |
| Independence Realty Trust, Inc. (Equity Real Estate Investment Trusts) | | | 567 | | | | 8,318 | |
| Independent Bank Corp. (Banks) | | | 175 | | | | 12,635 | |
| Industrial Logistics Properties Trust (Equity Real Estate Investment Trusts) | | | 945 | | | | 21,631 | |
| Innophos Holdings, Inc. (Chemicals) | | | 286 | | | | 9,141 | |
| Inogen, Inc.* (Health Care Equipment & Supplies) | | | 100 | | | | 4,427 | |
| Insight Enterprises, Inc.* (Electronic Equipment, Instruments & Components) | | | 254 | | | | 16,731 | |
| Insteel Industries, Inc. (Building Products) | | | 265 | | | | 5,928 | |
| Integer Holdings Corp.* (Health Care Equipment & Supplies) | | | 474 | | | | 40,479 | |
| Interface, Inc. (Commercial Services & Supplies) | | | 296 | | | | 4,760 | |
| INTL. FCStone, Inc.* (Capital Markets) | | | 236 | | | | 11,248 | |
| Invacare Corp. (Health Care Equipment & Supplies) | | | 487 | | | | 3,745 | |
| Invesco Mortgage Capital, Inc. (Mortgage Real Estate Investment Trusts) | | | 2,068 | | | | 36,169 | |
| Iridium Communications, Inc.* (Diversified Telecommunication Services) | | | 729 | | | | 18,627 | |
| iRobot Corp.*(a) (Household Durables) | | | 230 | | | | 10,822 | |
| iStar, Inc. (Equity Real Estate Investment Trusts) | | | 856 | | | | 12,463 | |
| J.C. Penney Co., Inc.*(a) (Multiline Retail) | | | 4,355 | | | | 3,244 | |
| James River Group Holdings, Ltd. (Insurance) | | | 154 | | | | 6,613 | |
| Kaiser Aluminum Corp. (Metals & Mining) | | | 85 | | | | 8,513 | |
| Kaman Corp.—Class A (Trading Companies & Distributors) | | | 405 | | | | 24,997 | |
| Kelly Services, Inc.—Class A (Professional Services) | | | 481 | | | | 8,543 | |
| Kite Realty Group Trust (Equity Real Estate Investment Trusts) | | | 1,217 | | | | 20,932 | |
| KKR Real Estate Finance Trust, Inc. (Mortgage Real Estate Investment Trusts) | | | 349 | | | | 7,346 | |
| KLX Energy Services Holdings, Inc.* (Energy Equipment & Services) | | | 302 | | | | 1,220 | |
| Knowles Corp.* (Electronic Equipment, Instruments & Components) | | | 349 | | | | 6,886 | |
| Kontoor Brands, Inc. (Textiles, Apparel & Luxury Goods) | | | 678 | | | | 25,859 | |
| Korn Ferry (Professional Services) | | | 802 | | | | 32,866 | |
| Kraton Corp.* (Chemicals) | | | 460 | | | | 7,567 | |
| Kulicke & Soffa Industries, Inc. (Semiconductors & Semiconductor Equipment) | | | 460 | | | | 11,909 | |
| Lannett Co., Inc.* (Pharmaceuticals) | | | 484 | | | | 3,940 | |
| Lantheus Holdings, Inc.* (Health Care Equipment & Supplies) | | | 256 | | | | 4,483 | |
| Laredo Petroleum, Inc.* (Oil, Gas & Consumable Fuels) | | | 2,609 | | | | 4,487 | |
| La-Z-Boy, Inc. (Household Durables) | | | 349 | | | | 10,693 | |
| Lexington Realty Trust (Equity Real Estate Investment Trusts) | | | 1,830 | | | | 20,258 | |
| Lindsay Corp. (Machinery) | | | 86 | | | | 8,603 | |
| Liquidity Services, Inc.* (Internet & Direct Marketing Retail) | | | 192 | | | | 1,021 | |
| Livent Corp.* (Chemicals) | | | 2,116 | | | | 19,911 | |
| LSB Industries, Inc.* (Chemicals) | | | 313 | | | | 945 | |
| LTC Properties, Inc. (Equity Real Estate Investment Trusts) | | | 271 | | | | 12,509 | |
| Lumber Liquidators Holdings, Inc.* (Specialty Retail) | | | 415 | | | | 3,158 | |
| Luminex Corp. (Life Sciences Tools & Services) | | | 607 | | | | 13,770 | |
| Lydall, Inc.* (Machinery) | | | 254 | | | | 5,192 | |
| M/I Homes, Inc.* (Household Durables) | | | 192 | | | | 8,523 | |
| Magellan Health, Inc.* (Health Care Providers & Services) | | | 317 | | | | 23,207 | |
| Marcus & Millichap, Inc.* (Real Estate Management & Development) | | | 167 | | | | 5,912 | |
| MarineMax, Inc.* (Specialty Retail) | | | 312 | | | | 6,218 | |
| Marten Transport, Ltd. (Road & Rail) | | | 236 | | | | 4,899 | |
| Materion Corp. (Metals & Mining) | | | 131 | | | | 7,113 | |
| Matrix Service Co.* (Energy Equipment & Services) | | | 394 | | | | 7,927 | |
| Matson, Inc. (Marine) | | | 621 | | | | 22,362 | |
See accompanying notes to the financial statements.
128 :: Small-Cap Value ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Matthews International Corp.—Class A (Commercial Services & Supplies) | | | 454 | | | $ | 16,943 | |
| MAX Holdings, Inc. (Real Estate Management & Development) | | | 74 | | | | 2,833 | |
| MaxLinear, Inc.*—Class A (Semiconductors & Semiconductor Equipment) | | | 519 | | | | 10,115 | |
| Mercer International, Inc. (Paper & Forest Products) | | | 272 | | | | 2,995 | |
| Meridian Bioscience, Inc. (Health Care Equipment & Supplies) | | | 619 | | | | 6,091 | |
| Merit Medical Systems, Inc.* (Health Care Equipment & Supplies) | | | 801 | | | | 29,171 | |
| Meritage Homes Corp.* (Household Durables) | | | 224 | | | | 15,895 | |
| Meritor, Inc.* (Machinery) | | | 520 | | | | 11,393 | |
| Mesa Laboratories, Inc. (Electronic Equipment, Instruments & Components) | | | 23 | | | | 6,036 | |
| Methode Electronics, Inc. (Electronic Equipment, Instruments & Components) | | | 167 | | | | 5,469 | |
| MGP Ingredients, Inc. (Beverages) | | | 109 | | | | 3,713 | |
| MicroStrategy, Inc.*—Class A (Software) | | | 52 | | | | 7,906 | |
| Mobile Mini, Inc. (Commercial Services & Supplies) | | | 306 | | | | 12,772 | |
| Momenta Pharmaceuticals, Inc.* (Biotechnology) | | | 642 | | | | 18,631 | |
| Monarch Casino & Resort, Inc.* (Hotels, Restaurants & Leisure) | | | 68 | | | | 3,650 | |
| Monro, Inc. (Specialty Retail) | | | 214 | | | | 13,418 | |
| Moog, Inc.—Class A (Aerospace & Defense) | | | 237 | | | | 21,237 | |
| Motorcar Parts of America, Inc.* (Auto Components) | | | 275 | | | | 5,462 | |
| Movado Group, Inc. (Textiles, Apparel & Luxury Goods) | | | 237 | | | | 4,081 | |
| MTS Systems Corp. (Electronic Equipment, Instruments & Components) | | | 257 | | | | 13,027 | |
| Mueller Industries, Inc. (Machinery) | | | 281 | | | | 8,197 | |
| Myers Industries, Inc. (Containers & Packaging) | | | 515 | | | | 8,333 | |
| MYR Group, Inc.* (Construction & Engineering) | | | 129 | | | | 3,705 | |
| Myriad Genetics, Inc.* (Biotechnology) | | | 1,077 | | | | 29,778 | |
| Nabors Industries, Ltd. (Energy Equipment & Services) | | | 4,892 | | | | 10,126 | |
| National Bank Holdings Corp. (Banks) | | | 126 | | | | 4,108 | |
| National Beverage Corp.* (Beverages) | | | 88 | | | | 3,776 | |
| National Presto Industries, Inc. (Aerospace & Defense) | | | 72 | | | | 6,206 | |
| National Storage Affiliates Trust (Equity Real Estate Investment Trusts) | | | 371 | | | | 12,670 | |
| Natus Medical, Inc.* (Health Care Equipment & Supplies) | | | 232 | | | | 7,259 | |
| NBT Bancorp, Inc. (Banks) | | | 312 | | | | 11,790 | |
| Neenah, Inc. (Paper & Forest Products) | | | 133 | | | | 8,863 | |
| Neogen Corp.* (Health Care Equipment & Supplies) | | | 274 | | | | 18,432 | |
| NETGEAR, Inc.* (Communications Equipment) | | | 436 | | | | 11,214 | |
| New York Mortgage Trust, Inc. (Mortgage Real Estate Investment Trusts) | | | 4,653 | | | | 29,547 | |
| Newpark Resources, Inc.* (Energy Equipment & Services) | | | 634 | | | | 3,170 | |
| Nexpoint Residential Trust, Inc. (Equity Real Estate Investment Trusts) | | | 81 | | | | 3,953 | |
| NextGen Healthcare, Inc.* (Health Care Technology) | | | 324 | | | | 4,491 | |
| Noble Corp. PLC* (Energy Equipment & Services) | | | 3,608 | | | | 2,915 | |
| Northfield Bancorp, Inc. (Thrifts & Mortgage Finance) | | | 332 | | | | 5,275 | |
| Northwest Bancshares, Inc. (Thrifts & Mortgage Finance) | | | 1,452 | | | | 22,833 | |
| Northwest Natural Holding Co. (Gas Utilities) | | | 221 | | | | 16,217 | |
| Oasis Petroleum, Inc.* (Oil, Gas & Consumable Fuels) | | | 4,186 | | | | 9,419 | |
| Oceaneering International, Inc.* (Energy Equipment & Services) | | | 1,432 | | | | 17,771 | |
| Office Depot, Inc. (Specialty Retail) | | | 7,913 | | | | 17,566 | |
| Office Properties Income Trust (Equity Real Estate Investment Trusts) | | | 698 | | | | 23,753 | |
| OFG Bancorp (Banks) | | | 743 | | | | 14,645 | |
| Oil States International, Inc.* (Energy Equipment & Services) | | | 875 | | | | 9,433 | |
| Old National Bancorp (Banks) | | | 2,464 | | | | 44,130 | |
| Olympic Steel, Inc. (Metals & Mining) | | | 133 | | | | 1,955 | |
| Omnicell, Inc.* (Health Care Technology) | | | 224 | | | | 18,207 | |
| Onto Innovation, Inc.* (Semiconductors & Semiconductor Equipment) | | | 320 | | | | 12,141 | |
| Opus Bank (Banks) | | | 314 | | | | 8,363 | |
| OraSure Technologies, Inc.* (Health Care Equipment & Supplies) | | | 891 | | | | 6,282 | |
| Orthofix Medical, Inc.* (Health Care Equipment & Supplies) | | | 154 | | | | 6,662 | |
| Owens & Minor, Inc. (Health Care Providers & Services) | | | 908 | | | | 5,684 | |
| Oxford Industries, Inc. (Textiles, Apparel & Luxury Goods) | | | 246 | | | | 17,072 | |
| P.H. Glatfelter Co. (Paper & Forest Products) | | | 640 | | | | 10,688 | |
| Pacific Premier Bancorp, Inc. (Banks) | | | 861 | | | | 25,658 | |
| Pacira BioSciences, Inc.* (Pharmaceuticals) | | | 194 | | | | 8,385 | |
| Park Aerospace Corp. (Aerospace & Defense) | | | 283 | | | | 4,378 | |
| PC Connection, Inc. (Electronic Equipment, Instruments & Components) | | | 93 | | | | 4,635 | |
| PDC Energy, Inc.* (Oil, Gas & Consumable Fuels) | | | 687 | | | | 14,832 | |
| PDF Solutions, Inc.* (Semiconductors & Semiconductor Equipment) | | | 150 | | | | 2,364 | |
| Pennsylvania Real Estate Investment Trust(a)(Equity Real Estate Investment Trusts) | | | 860 | | | | 3,388 | |
| Perdoceo Education Corp.* (Diversified Consumer Services) | | | 571 | | | | 10,152 | |
| PetMed Express, Inc.(a) (Internet & Direct Marketing Retail) | | | 140 | | | | 3,529 | |
| PGT Innovations, Inc.* (Building Products) | | | 847 | | | | 13,129 | |
| Phibro Animal Health Corp.—Class A (Pharmaceuticals) | | | 295 | | | | 6,997 | |
| Photronics, Inc.* (Semiconductors & Semiconductor Equipment) | | | 975 | | | | 12,460 | |
| Piper Sandler Cos. (Capital Markets) | | | 122 | | | | 10,056 | |
| Pitney Bowes, Inc. (Commercial Services & Supplies) | | | 2,471 | | | | 9,242 | |
| Plantronics, Inc. (Communications Equipment) | | | 475 | | | | 13,642 | |
| Powell Industries, Inc. (Electrical Equipment) | | | 128 | | | | 5,283 | |
| PRA Group, Inc.* (Consumer Finance) | | | 348 | | | | 12,305 | |
| PriceSmart, Inc. (Food & Staples Retailing) | | | 180 | | | | 11,027 | |
| ProAssurance Corp. (Insurance) | | | 780 | | | | 23,689 | |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Small-Cap Value ProFund :: 129
Common Stocks, continued
| | | Shares | | | Value | |
| Progenics Pharmaceuticals, Inc.* (Biotechnology) | | | 647 | | | $ | 2,886 | |
| ProPetro Holding Corp.* (Energy Equipment & Services) | | | 1,193 | | | | 11,620 | |
| Proto Labs, Inc.* (Machinery) | | | 139 | | | | 14,387 | |
| Provident Financial Services, Inc. (Thrifts & Mortgage Finance) | | | 872 | | | | 19,890 | |
| QEP Resources, Inc. (Oil, Gas & Consumable Fuels) | | | 1,822 | | | | 5,776 | |
| Quaker Chemical Corp. (Chemicals) | | | 188 | | | | 31,211 | |
| Quanex Building Products Corp. (Building Products) | | | 481 | | | | 8,523 | |
| Rambus, Inc.* (Semiconductors & Semiconductor Equipment) | | | 761 | | | | 12,077 | |
| Range Resources Corp. (Oil, Gas & Consumable Fuels) | | | 3,020 | | | | 9,060 | |
| Rayonier Advanced Materials, Inc. (Chemicals) | | | 721 | | | | 2,221 | |
| Ready Capital Corp. (Mortgage Real Estate Investment Trusts) | | | 509 | | | | 8,307 | |
| Realogy Holdings Corp. (Real Estate Management & Development) | | | 1,657 | | | | 17,547 | |
| Red Robin Gourmet Burgers, Inc.* (Hotels, Restaurants & Leisure) | | | 188 | | | | 6,180 | |
| Redwood Trust, Inc. (Mortgage Real Estate Investment Trusts) | | | 1,632 | | | | 28,772 | |
| Regis Corp.* (Diversified Consumer Services) | | | 350 | | | | 5,432 | |
| Renewable Energy Group, Inc.* (Oil, Gas & Consumable Fuels) | | | 565 | | | | 14,848 | |
| Resources Connection, Inc. (Professional Services) | | | 436 | | | | 6,638 | |
| Retail Opportunity Investments Corp. (Equity Real Estate Investment Trusts) | | | 756 | | | | 12,527 | |
| REX American Resources Corp.* (Oil, Gas & Consumable Fuels) | | | 42 | | | | 3,165 | |
| RPC, Inc. (Energy Equipment & Services) | | | 742 | | | | 3,361 | |
| RPT Realty (Equity Real Estate Investment Trusts) | | | 1,164 | | | | 16,238 | |
| Ruth's Hospitality Group, Inc. (Hotels, Restaurants & Leisure) | | | 138 | | | | 2,829 | |
| S&T Bancorp, Inc. (Banks) | | | 559 | | | | 21,013 | |
| Safety Insurance Group, Inc. (Insurance) | | | 110 | | | | 10,129 | |
| Sanmina Corp.* (Electronic Equipment, Instruments & Components) | | | 1,015 | | | | 32,318 | |
| Saul Centers, Inc. (Equity Real Estate Investment Trusts) | | | 73 | | | | 3,605 | |
| ScanSource, Inc.* (Electronic Equipment, Instruments & Components) | | | 367 | | | | 12,805 | |
| Scholastic Corp. (Media) | | | 445 | | | | 14,662 | |
| Seacoast Banking Corp.* (Banks) | | | 322 | | | | 8,742 | |
| SEACOR Holdings, Inc.* (Energy Equipment & Services) | | | 116 | | | | 4,360 | |
| Select Medical Holdings Corp.* (Health Care Providers & Services) | | | 746 | | | | 17,039 | |
| Seneca Foods Corp.*—Class A (Food Products) | | | 99 | | | | 3,915 | |
| Shenandoah Telecommunications Co. (Wireless Telecommunication Services) | | | 297 | | | | 11,984 | |
| Shoe Carnival, Inc. (Specialty Retail) | | | 131 | | | | 4,698 | |
| Signet Jewelers, Ltd. (Specialty Retail) | | | 760 | | | | 18,475 | |
| Simmons First National Corp.—Class A (Banks) | | | 1,651 | | | | 39,591 | |
| SkyWest, Inc. (Airlines) | | | 729 | | | | 40,219 | |
| SM Energy Co. (Oil, Gas & Consumable Fuels) | | | 1,537 | | | | 14,110 | |
| Smart Global Holdings, Inc.* (Semiconductors & Semiconductor Equipment) | | | 191 | | | | 5,761 | |
| Sonic Automotive, Inc.—Class A (Specialty Retail) | | | 351 | | | | 11,102 | |
| South Jersey Industries, Inc. (Gas Utilities) | | | 455 | | | | 14,014 | |
| Southside Bancshares, Inc. (Banks) | | | 461 | | | | 16,172 | |
| Southwestern Energy Co.* (Oil, Gas & Consumable Fuels) | | | 7,840 | | | | 12,309 | |
| SpartanNash Co. (Food & Staples Retailing) | | | 526 | | | | 6,407 | |
| Spectrum Pharmaceuticals, Inc.* (Biotechnology) | | | 944 | | | | 2,388 | |
| Spok Holdings, Inc. (Wireless Telecommunication Services) | | | 254 | | | | 2,697 | |
| Stamps.com, Inc.* (Internet & Direct Marketing Retail) | | | 104 | | | | 7,748 | |
| Standard Motor Products, Inc. (Auto Components) | | | 293 | | | | 14,234 | |
| Standex International Corp. (Machinery) | | | 180 | | | | 13,156 | |
| Stepan Co. (Chemicals) | | | 132 | | | | 13,022 | |
| Stewart Information Services Corp. (Insurance) | | | 343 | | | | 14,320 | |
| Strategic Education, Inc. (Diversified Consumer Services) | | | 150 | | | | 24,344 | |
| Sturm, Ruger & Co., Inc. (Leisure Products) | | | 241 | | | | 11,935 | |
| Summit Hotel Properties, Inc. (Equity Real Estate Investment Trusts) | | | 1,523 | | | | 16,890 | |
| SunCoke Energy, Inc. (Metals & Mining) | | | 1,254 | | | | 7,374 | |
| Supernus Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 335 | | | | 7,661 | |
| Surmodics, Inc.* (Health Care Equipment & Supplies) | | | 89 | | | | 3,506 | |
| Sykes Enterprises, Inc.* (IT Services) | | | 262 | | | | 8,801 | |
| Tabula Rasa Healthcare, Inc.* (Health Care Technology) | | | 174 | | | | 10,104 | |
| Tactile Systems Technology, Inc.* (Health Care Equipment & Supplies) | | | 126 | | | | 7,080 | |
| Tailored Brands, Inc.(a) (Specialty Retail) | | | 730 | | | | 2,905 | |
| Tanger Factory Outlet Centers, Inc.(a) (Equity Real Estate Investment Trusts) | | | 1,341 | | | | 19,619 | |
| Team, Inc.* (Commercial Services & Supplies) | | | 440 | | | | 5,984 | |
| TETRA Technologies, Inc.* (Energy Equipment & Services) | | | 1,814 | | | | 2,775 | |
| The Andersons, Inc. (Food & Staples Retailing) | | | 472 | | | | 10,677 | |
| The Buckle, Inc. (Specialty Retail) | | | 153 | | | | 3,735 | |
| The Cato Corp.—Class A (Specialty Retail) | | | 317 | | | | 5,085 | |
| The Children's Place, Inc. (Specialty Retail) | | | 225 | | | | 13,426 | |
| The E.W. Scripps Co.—Class A (Media) | | | 418 | | | | 5,075 | |
| The Ensign Group, Inc. (Health Care Providers & Services) | | | 284 | | | | 12,837 | |
| The Greenbrier Cos., Inc. (Machinery) | | | 472 | | | | 11,370 | |
| The Marcus Corp. (Entertainment) | | | 333 | | | | 9,707 | |
| The Michaels Cos., Inc.* (Specialty Retail) | | | 1,104 | | | | 5,443 | |
| The Providence Service Corp.* (Health Care Providers & Services) | | | 166 | | | | 10,765 | |
| Third Point Reinsurance, Ltd.* (Insurance) | | | 1,159 | | | | 12,622 | |
| TimkenSteel Corp.* (Metals & Mining) | | | 574 | | | | 3,662 | |
| Titan International, Inc. (Machinery) | | | 721 | | | | 2,062 | |
| Tivity Health, Inc.* (Health Care Providers & Services) | | | 626 | | | | 13,550 | |
| TiVo Corp. (Software) | | | 1,832 | | | | 13,336 | |
| Tompkins Financial Corp. (Banks) | | | 78 | | | | 6,715 | |
| Tredegar Corp. (Chemicals) | | | 151 | | | | 3,073 | |
See accompanying notes to the financial statements.
130 :: Small-Cap Value ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Trinseo SA (Chemicals) | | | 569 | | | $ | 16,342 | |
| Triumph Bancorp, Inc.* (Banks) | | | 101 | | | | 3,937 | |
| TrueBlue, Inc.* (Professional Services) | | | 565 | | | | 12,379 | |
| TrustCo Bank Corp. (Thrifts & Mortgage Finance) | | | 674 | | | | 5,345 | |
| TTM Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | | 1,424 | | | | 20,491 | |
| Tupperware Brands Corp. (Household Durables) | | | 706 | | | | 4,420 | |
| U.S. Concrete, Inc.* (Construction Materials) | | | 230 | | | | 8,186 | |
| U.S. Ecology, Inc. (Commercial Services & Supplies) | | | 192 | | | | 10,370 | |
| U.S. Silica Holdings, Inc. (Energy Equipment & Services) | | | 1,063 | | | | 5,464 | |
| Unifi, Inc.* (Textiles, Apparel & Luxury Goods) | | | 213 | | | | 4,584 | |
| Unisys Corp.* (IT Services) | | | 751 | | | | 7,292 | |
| United Community Banks, Inc. (Banks) | | | 343 | | | | 9,577 | |
| United Fire Group, Inc. (Insurance) | | | 308 | | | | 13,632 | |
| United Insurance Holdings Corp. (Insurance) | | | 299 | | | | 3,032 | |
| United Natural Foods, Inc.* (Food & Staples Retailing) | | | 772 | | | | 5,558 | |
| Uniti Group, Inc. (Equity Real Estate Investment Trusts) | | | 2,800 | | | | 17,724 | |
| Universal Corp. (Tobacco) | | | 359 | | | | 19,081 | |
| Universal Insurance Holdings, Inc. (Insurance) | | | 443 | | | | 10,783 | |
| Urstadt Biddle Properties, Inc.—Class A (Equity Real Estate Investment Trusts) | | | 160 | | | | 3,627 | |
| USANA Health Sciences, Inc.* (Personal Products) | | | 181 | | | | 11,168 | |
| Valaris PLC (Energy Equipment & Services) | | | 2,865 | | | | 14,640 | |
| Vanda Pharmaceuticals, Inc.* (Biotechnology) | | | 332 | | | | 4,233 | |
| Varex Imaging Corp.* (Health Care Equipment & Supplies) | | | 223 | | | | 6,166 | |
| Vector Group, Ltd. (Tobacco) | | | 601 | | | | 7,897 | |
| Vera Bradley, Inc.* (Textiles, Apparel & Luxury Goods) | | | 338 | | | | 3,238 | |
| Veritex Holdings, Inc. (Banks) | | | 342 | | | | 9,685 | |
| Veritiv Corp.* (Trading Companies & Distributors) | | | 184 | | | | 2,591 | |
| Viad Corp. (Commercial Services & Supplies) | | | 118 | | | | 7,670 | |
| Vista Outdoor, Inc.* (Leisure Products) | | | 836 | | | | 6,211 | |
| Vonage Holdings Corp.* (Diversified Telecommunication Services) | | | 1,815 | | | | 16,099 | |
| Wabash National Corp. (Machinery) | | | 783 | | | | 9,083 | |
| Waddell & Reed Financial, Inc.—Class A (Capital Markets) | | | 1,019 | | | | 16,284 | |
| Warrior Met Coal, Inc. (Metals & Mining) | | | 740 | | | | 13,956 | |
| Washington Prime Group, Inc.(a) (Equity Real Estate Investment Trusts) | | | 2,699 | | | | 8,124 | |
| Washington Real Estate Investment Trust (Equity Real Estate Investment Trusts) | | | 608 | | | | 18,508 | |
| Westamerica Bancorp (Banks) | | | 179 | | | | 11,341 | |
| Whitestone REIT (Equity Real Estate Investment Trusts) | | | 589 | | | | 7,716 | |
| Whiting Petroleum Corp.*(a) (Oil, Gas & Consumable Fuels) | | | 1,322 | | | | 6,002 | |
| William Lyon Homes*—Class A (Household Durables) | | | 479 | | | | 11,108 | |
| WisdomTree Investments, Inc. (Capital Markets) | | | 1,705 | | | | 7,178 | |
| Wolverine World Wide, Inc. (Textiles, Apparel & Luxury Goods) | | | 1,172 | | | | 37,001 | |
| World Acceptance Corp.* (Consumer Finance) | | | 79 | | | | 6,831 | |
| Xencor, Inc.* (Biotechnology) | | | 307 | | | | 10,420 | |
| Xenia Hotels & Resorts, Inc. (Equity Real Estate Investment Trusts) | | | 1,632 | | | | 30,502 | |
TOTAL COMMON STOCKS
(Cost $4,495,715) | | | | | | | 5,184,419 | |
| Contingent Right(NM) | | | | | | | | |
| A. Schulman, Inc.*+(b) (Chemicals) | | | 2,323 | | | | 1,215 | |
TOTAL CONTINGENT RIGHT
(Cost $4,646) | | | | | | | 1,215 | |
| Collateral for Securities Loaned (1.8%) | | | | | | | | |
| BlackRock Liquidity Funds FedFund Portfolio—Institutional Shares, 1.81%(c) | | | 40,752 | | | | 40,752 | |
| Invesco Government & Agency Portfolio—Institutional Shares, 1.77%(c) | | | 12,487 | | | | 12,487 | |
| Fidelity Investments Money Market Government Portfolio—Class I, 1.80%(c) | | | 38,772 | | | | 38,772 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $92,011) | | | | | | | 92,011 | |
TOTAL INVESTMENT SECURITIES
(Cost $4,592,372)—102.0% | | | | | | | 5,277,645 | |
| Net other assets (liabilities)—(2.0)% | | | | | | | (102,805 | ) |
| NET ASSETS—100.0% | | | | | | $ | 5,174,840 | |
| * | Non-income producing security. |
| + | These securities were fair valued based on procedures approved by the Board of Trustees. As of January 31, 2020, these securities represented 0.023% of the net assets of the Fund. |
| (a) | All or part of this security was on loan as of January 31, 2020. The total value of securities on loan as of January 31, 2020 was $84,940. |
| (b) | No explicit expiration date, expiration is subject to contingencies. In August 2018, LyondellBasell Industries N.V. completed an acquisition of 100% of A. Schulman, Inc. in exchange for cash and a contingent right per share acquired. Rights entitle the Fund to certain net proceeds, if any, that are recovered from ongoing litigation and government investigations related to past acquisitions made my A. Schulman, Inc. |
| (c) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2020. |
| NM | Not meaningful, amount is less than 0.05%. |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Small-Cap Value ProFund :: 131
Small-Cap Value ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 75,242 | | | | 1.5 | % |
| Air Freight & Logistics | | | 41,645 | | | | 0.8 | % |
| Airlines | | | 59,038 | | | | 1.1 | % |
| Auto Components | | | 94,514 | | | | 1.8 | % |
| Banks | | | 703,040 | | | | 13.4 | % |
| Beverages | | | 7,489 | | | | 0.1 | % |
| Biotechnology | | | 92,437 | | | | 1.8 | % |
| Building Products | | | 41,081 | | | | 0.8 | % |
| Capital Markets | | | 57,774 | | | | 1.1 | % |
| Chemicals | | | 173,754 | | | | 3.4 | % |
| Commercial Services & Supplies | | | 117,298 | | | | 2.3 | % |
| Communications Equipment | | | 38,992 | | | | 0.8 | % |
| Construction & Engineering | | | 69,745 | | | | 1.3 | % |
| Construction Materials | | | 8,186 | | | | 0.2 | % |
| Consumer Finance | | | 37,444 | | | | 0.7 | % |
| Containers & Packaging | | | 8,333 | | | | 0.2 | % |
| Distributors | | | 15,494 | | | | 0.3 | % |
| Diversified Consumer Services | | | 45,266 | | | | 0.9 | % |
| Diversified Financial Services | | | 18,287 | | | | 0.4 | % |
| Diversified Telecommunication Services | | | 58,881 | | | | 1.1 | % |
| Electric Utilities | | | 16,818 | | | | 0.3 | % |
| Electrical Equipment | | | 27,709 | | | | 0.5 | % |
| Electronic Equipment, Instruments & Components | | | 207,497 | | | | 4.0 | % |
| Energy Equipment & Services | | | 141,072 | | | | 2.7 | % |
| Entertainment | | | 9,707 | | | | 0.2 | % |
| Equity Real Estate Investment Trusts | | | 466,756 | | | | 8.9 | % |
| Food & Staples Retailing | | | 47,137 | | | | 0.9 | % |
| Food Products | | | 120,659 | | | | 2.3 | % |
| Gas Utilities | | | 30,231 | | | | 0.6 | % |
| Health Care Equipment & Supplies | | | 163,625 | | | | 3.2 | % |
| Health Care Providers & Services | | | 130,152 | | | | 2.5 | % |
| Health Care Technology | | | 56,383 | | | | 1.1 | % |
| Hotels, Restaurants & Leisure | | | 45,513 | | | | 0.9 | % |
| Household Durables | | | 73,217 | | | | 1.4 | % |
| Household Products | | | 22,011 | | | | 0.4 | % |
| Insurance | | | 203,221 | | | | 3.9 | % |
| Interactive Media & Services | | | 3,054 | | | | 0.1 | % |
| Internet & Direct Marketing Retail | | | 12,298 | | | | 0.2 | % |
| IT Services | | | 24,058 | | | | 0.5 | % |
| Leisure Products | | | 18,146 | | | | 0.4 | % |
| Life Sciences Tools & Services | | | 13,770 | | | | 0.3 | % |
| Machinery | | | 196,744 | | | | 3.8 | % |
| Marine | | | 22,362 | | | | 0.4 | % |
| Media | | | 30,607 | | | | 0.6 | % |
| Metals & Mining | | | 73,743 | | | | 1.4 | % |
| Mortgage Real Estate Investment Trusts | | | 169,359 | | | | 3.3 | % |
| Multiline Retail | | | 18,560 | | | | 0.4 | % |
| Multi-Utilities | | | 49,172 | | | | 1.0 | % |
| Oil, Gas & Consumable Fuels | | | 132,188 | | | | 2.6 | % |
| Paper & Forest Products | | | 49,767 | | | | 1.0 | % |
| Personal Products | | | 11,168 | | | | 0.2 | % |
| Pharmaceuticals | | | 49,454 | | | | 1.0 | % |
| Professional Services | | | 71,111 | | | | 1.4 | % |
| Real Estate Management & Development | | | 26,292 | | | | 0.5 | % |
| Road & Rail | | | 19,886 | | | | 0.4 | % |
| Semiconductors & Semiconductor Equipment | | | 86,159 | | | | 1.7 | % |
| Software | | | 37,258 | | | | 0.7 | % |
| Specialty Retail | | | 228,853 | | | | 4.4 | % |
| Textiles, Apparel & Luxury Goods | | | 113,343 | | | | 2.2 | % |
| Thrifts & Mortgage Finance | | | 88,171 | | | | 1.7 | % |
| Tobacco | | | 26,978 | | | | 0.5 | % |
| Trading Companies & Distributors | | | 60,715 | | | | 1.2 | % |
| Water Utilities | | | 12,089 | | | | 0.2 | % |
| Wireless Telecommunication Services | | | 14,681 | | | | 0.3 | % |
| Other** | | | (10,794 | ) | | | (0.2 | )% |
| Total | | $ | 5,174,840 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
See accompanying notes to the financial statements.
132 :: Technology UltraSector ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks (77.2%)
| | | Shares | | | Value | |
| ACI Worldwide, Inc.* (Software) | | | 1,136 | | | $ | 39,135 | |
| Adobe, Inc.* (Software) | | | 4,753 | | | | 1,668,967 | |
| Advanced Micro Devices, Inc.* (Semiconductors & Semiconductor Equipment) | | | 10,937 | | | | 514,039 | |
| Akamai Technologies, Inc.* (IT Services) | | | 1,587 | | | | 148,146 | |
| Alphabet, Inc.*—Class A (Interactive Media & Services) | | | 2,942 | | | | 4,215,239 | |
| Alphabet, Inc.*—Class C (Interactive Media & Services) | | | 2,935 | | | | 4,209,465 | |
| Alteryx, Inc.* (Software) | | | 480 | | | | 66,946 | |
| Amdocs, Ltd. (IT Services) | | | 1,335 | | | | 96,053 | |
| Analog Devices, Inc. (Semiconductors & Semiconductor Equipment) | | | 3,617 | | | | 396,966 | |
| Anaplan, Inc.* (Software) | | | 841 | | | | 48,433 | |
| Angi Homeservices, Inc.*(a) (Interactive Media & Services) | | | 687 | | | | 5,517 | |
| ANSYS, Inc.* (Software) | | | 840 | | | | 230,437 | |
| Apple, Inc. (Technology Hardware, Storage & Peripherals) | | | 41,019 | | | | 12,695,791 | |
| Applied Materials, Inc. (Semiconductors & Semiconductor Equipment) | | | 9,073 | | | | 526,143 | |
| Arista Networks, Inc.* (Communications Equipment) | | | 532 | | | | 118,817 | |
| Aspen Technology, Inc.* (Software) | | | 670 | | | | 79,717 | |
| Autodesk, Inc.* (Software) | | | 2,161 | | | | 425,393 | |
| Avalara, Inc.* (Software) | | | 644 | | | | 54,830 | |
| Blackbaud, Inc. (Software) | | | 484 | | | | 37,912 | |
| Booz Allen Hamilton Holding Corp. (IT Services) | | | 1,379 | | | | 107,617 | |
| Broadcom, Inc. (Semiconductors & Semiconductor Equipment) | | | 3,895 | | | | 1,188,598 | |
| CACI International, Inc.*—Class A (IT Services) | | | 246 | | | | 65,790 | |
| Cadence Design Systems, Inc.* (Software) | | | 2,756 | | | | 198,735 | |
| Cargurus, Inc.* (Interactive Media & Services) | | | 702 | | | | 25,026 | |
| CDK Global, Inc. (Software) | | | 1,193 | | | | 64,040 | |
| CDW Corp. (Electronic Equipment, Instruments & Components) | | | 1,411 | | | | 184,065 | |
| CenturyLink, Inc. (Diversified Telecommunication Services) | | | 9,635 | | | | 131,614 | |
| Cerence, Inc.* (Software) | | | 357 | | | | 7,622 | |
| Ceridian HCM Holding, Inc.* (Software) | | | 989 | | | | 72,484 | |
| Cerner Corp. (Health Care Technology) | | | 3,085 | | | | 221,595 | |
| Chewy, Inc.*—Class A (Internet & Direct Marketing Retail) | | | 526 | | | | 13,944 | |
| Ciena Corp.* (Communications Equipment) | | | 1,520 | | | | 61,818 | |
| Cirrus Logic, Inc.* (Semiconductors & Semiconductor Equipment) | | | 567 | | | | 43,551 | |
| Cisco Systems, Inc. (Communications Equipment) | | | 41,663 | | | | 1,915,247 | |
| Citrix Systems, Inc. (Software) | | | 1,203 | | | | 145,828 | |
| Cognizant Technology Solutions Corp. (IT Services) | | | 5,378 | | | | 330,102 | |
| CommScope Holding Co., Inc.* (Communications Equipment) | | | 1,906 | | | | 23,225 | |
| CommVault Systems, Inc.* (Software) | | | 414 | | | | 18,638 | |
| Coupa Software, Inc.* (Software) | | | 618 | | | | 99,591 | |
| Cree, Inc.* (Semiconductors & Semiconductor Equipment) | | | 1,058 | | | | 49,186 | |
| Crowdstrike Holdings, Inc.*—Class A (Software) | | | 204 | | | | 12,462 | |
| Cypress Semiconductor Corp. (Semiconductors & Semiconductor Equipment) | | | 3,627 | | | | 84,618 | |
| Dell Technologies, Inc.*—Class C (Technology Hardware, Storage & Peripherals) | | | 1,524 | | | | 74,325 | |
| DocuSign, Inc.* (Software) | | | 1,227 | | | | 96,332 | |
| Dropbox, Inc.* (Software) | | | 2,119 | | | | 36,065 | |
| DXC Technology Co. (IT Services) | | | 2,515 | | | | 80,178 | |
| Dynatrace, Inc.* (Software) | | | 634 | | | | 19,851 | |
| eBay, Inc. (Internet & Direct Marketing Retail) | | | 7,510 | | | | 252,036 | |
| EchoStar Corp.* (Communications Equipment) | | | 453 | | | | 18,077 | |
| Elastic NV* (Software) | | | 319 | | | | 20,697 | |
| Entegris, Inc. (Semiconductors & Semiconductor Equipment) | | | 1,325 | | | | 68,582 | |
| EPAM Systems, Inc.* (IT Services) | | | 540 | | | | 123,196 | |
| Etsy, Inc.* (Internet & Direct Marketing Retail) | | | 1,163 | | | | 56,766 | |
| F5 Networks, Inc.* (Communications Equipment) | | | 596 | | | | 72,784 | |
| Facebook, Inc.*—Class A (Interactive Media & Services) | | | 23,635 | | | | 4,772,142 | |
| Fair Isaac Corp.* (Software) | | | 284 | | | | 114,276 | |
| FireEye, Inc.* (Software) | | | 2,129 | | | | 34,021 | |
| Fortinet, Inc.* (Software) | | | 1,394 | | | | 160,812 | |
| Garmin, Ltd. (Household Durables) | | | 1,419 | | | | 137,572 | |
| Gartner, Inc.* (IT Services) | | | 877 | | | | 141,004 | |
| GCI Liberty, Inc.* (Media) | | | 935 | | | | 68,423 | |
| GoDaddy, Inc.*—Class A (IT Services) | | | 1,739 | | | | 116,878 | |
| GrubHub, Inc.* (Internet & Direct Marketing Retail) | | | 898 | | | | 48,627 | |
| Guidewire Software, Inc.* (Software) | | | 811 | | | | 91,238 | |
| Hewlett Packard Enterprises Co. (Technology Hardware, Storage & Peripherals) | | | 12,708 | | | | 177,022 | |
| HP, Inc. (Technology Hardware, Storage & Peripherals) | | | 14,554 | | | | 310,291 | |
| Hubspot, Inc.* (Software) | | | 395 | | | | 71,471 | |
| IAC/InterActiveCorp* (Interactive Media & Services) | | | 712 | | | | 173,436 | |
| Intel Corp. (Semiconductors & Semiconductor Equipment) | | | 42,720 | | | | 2,731,089 | |
| InterDigital, Inc. (Communications Equipment) | | | 306 | | | | 16,907 | |
| International Business Machines Corp. (IT Services) | | | 8,698 | | | | 1,250,165 | |
| Intuit, Inc. (Software) | | | 2,557 | | | | 716,932 | |
| j2 Global, Inc. (Software) | | | 454 | | | | 43,520 | |
| Juniper Networks, Inc. (Communications Equipment) | | | 3,287 | | | | 75,404 | |
| KBR, Inc. (IT Services) | | | 1,394 | | | | 37,917 | |
| KLA Corp. (Semiconductors & Semiconductor Equipment) | | | 1,549 | | | | 256,731 | |
| Lam Research Corp. (Semiconductors & Semiconductor Equipment) | | | 1,425 | | | | 424,949 | |
| Leidos Holdings, Inc. (IT Services) | | | 1,307 | | | | 131,314 | |
| LogMeIn, Inc. (Software) | | | 481 | | | | 41,352 | |
| Lumentum Holdings, Inc.* (Communications Equipment) | | | 759 | | | | 57,509 | |
| Manhattan Associates, Inc.* (Software) | | | 628 | | | | 53,669 | |
| Marvell Technology Group, Ltd. (Semiconductors & Semiconductor Equipment) | | | 6,551 | | | | 157,486 | |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Technology UltraSector ProFund :: 133
Common Stocks, continued
| | | Shares | | | Value | |
| Match Group, Inc.*(a) (Interactive Media & Services) | | | 530 | | | $ | 41,457 | |
| Maxim Integrated Products, Inc. (Semiconductors & Semiconductor Equipment) | | | 2,658 | | | | 159,799 | |
| Microchip Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 2,347 | | | | 228,786 | |
| Micron Technology, Inc.* (Semiconductors & Semiconductor Equipment) | | | 10,873 | | | | 577,248 | |
| Microsoft Corp. (Software) | | | 74,921 | | | | 12,753,801 | |
| MKS Instruments, Inc. (Semiconductors & Semiconductor Equipment) | | | 535 | | | | 56,079 | |
| Mongodb, Inc.* (IT Services) | | | 343 | | | | 56,221 | |
| Monolithic Power Systems, Inc. (Semiconductors & Semiconductor Equipment) | | | 397 | | | | 67,954 | |
| Motorola Solutions, Inc. (Communications Equipment) | | | 1,682 | | | | 297,714 | |
| NCR Corp.* (Technology Hardware, Storage & Peripherals) | | | 1,254 | | | | 42,285 | |
| NetApp, Inc. (Technology Hardware, Storage & Peripherals) | | | 2,242 | | | | 119,723 | |
| NetScout Systems, Inc.* (Communications Equipment) | | | 647 | | | | 16,634 | |
| New Relic, Inc.* (Software) | | | 492 | | | | 32,477 | |
| NortonLifelock, Inc. (Software) | | | 5,631 | | | | 160,033 | |
| Nuance Communications, Inc.* (Software) | | | 2,776 | | | | 52,522 | |
| Nutanix, Inc.* (Software) | | | 1,434 | | | | 46,562 | |
| NVIDIA Corp. (Semiconductors & Semiconductor Equipment) | | | 6,009 | | | | 1,420,708 | |
| Okta, Inc.* (IT Services) | | | 1,104 | | | | 141,367 | |
| ON Semiconductor Corp.* (Semiconductors & Semiconductor Equipment) | | | 4,034 | | | | 93,387 | |
| Oracle Corp. (Software) | | | 21,277 | | | | 1,115,978 | |
| Palo Alto Networks, Inc.* (Communications Equipment) | | | 961 | | | | 225,624 | |
| Paycom Software, Inc.* (Software) | | | 483 | | | | 153,671 | |
| Paylocity Holding Corp.* (Software) | | | 353 | | | | 50,087 | |
| Pegasystems, Inc. (Software) | | | 375 | | | | 32,329 | |
| Perspecta, Inc. (IT Services) | | | 1,350 | | | | 37,895 | |
| Pluralsight, Inc.*—Class A (Software) | | | 810 | | | | 15,706 | |
| Proofpoint, Inc.* (Software) | | | 554 | | | | 68,037 | |
| PTC, Inc.* (Software) | | | 1,022 | | | | 84,949 | |
| Pure Storage, Inc.*—Class A (Technology Hardware, Storage & Peripherals) | | | 2,213 | | | | 39,391 | |
| Qorvo, Inc.* (Semiconductors & Semiconductor Equipment) | | | 1,139 | | | | 120,575 | |
| Qualcomm, Inc. (Semiconductors & Semiconductor Equipment) | | | 11,213 | | | | 956,581 | |
| RealPage, Inc.* (Software) | | | 783 | | | | 45,688 | |
| RingCentral, Inc.*—Class A (Software) | | | 735 | | | | 151,101 | |
| Salesforce.com, Inc.* (Software) | | | 8,710 | | | | 1,587,919 | |
| Science Applications International Corp. (IT Services) | | | 483 | | | | 42,393 | |
| Seagate Technology PLC (Technology Hardware, Storage & Peripherals) | | | 2,271 | | | | 129,424 | |
| Semtech Corp.* (Semiconductors & Semiconductor Equipment) | | | 651 | | | | 31,372 | |
| ServiceNow, Inc.* (Software) | | | 1,853 | | | | 626,740 | |
| Silicon Laboratories, Inc.* (Semiconductors & Semiconductor Equipment) | | | 426 | | | | 41,880 | |
| Skyworks Solutions, Inc. (Semiconductors & Semiconductor Equipment) | | | 1,672 | | | | 189,187 | |
| Slack Technologies, Inc.*—Class A (Software) | | | 383 | | | | 7,940 | |
| Smartsheet, Inc.* (Software) | | | 893 | | | | 43,293 | |
| Snap, Inc.* (Interactive Media & Services) | | | 7,714 | | | | 141,783 | |
| SolarWinds Corp.* (Software) | | | 642 | | | | 12,147 | |
| Splunk, Inc.* (Software) | | | 1,516 | | | | 235,374 | |
| SS&C Technologies Holdings, Inc. (Software) | | | 2,160 | | | | 136,102 | |
| SYNNEX Corp. (Electronic Equipment, Instruments & Components) | | | 401 | | | | 55,242 | |
| Synopsys, Inc.* (Software) | | | 1,475 | | | | 217,577 | |
| Tech Data Corp.* (Electronic Equipment, Instruments & Components) | | | 348 | | | | 50,091 | |
| Teradata Corp.* (IT Services) | | | 1,104 | | | | 26,871 | |
| Teradyne, Inc. (Semiconductors & Semiconductor Equipment) | | | 1,646 | | | | 108,620 | |
| Texas Instruments, Inc. (Semiconductors & Semiconductor Equipment) | | | 9,180 | | | | 1,107,567 | |
| Trade Desk, Inc. (The)* (Software) | | | 392 | | | | 105,519 | |
| Twilio, Inc.* (IT Services) | | | 1,224 | | | | 152,192 | |
| Twitter, Inc.* (Interactive Media & Services) | | | 7,624 | | | | 247,628 | |
| Tyler Technologies, Inc.* (Software) | | | 383 | | | | 123,969 | |
| Ubiquiti, Inc. (Communications Equipment) | | | 121 | | | | 19,774 | |
| Universal Display Corp. (Semiconductors & Semiconductor Equipment) | | | 416 | | | | 73,287 | |
| Veeva Systems, Inc.*—Class A (Health Care Technology) | | | 1,293 | | | | 189,567 | |
| Verint Systems, Inc.* (Software) | | | 656 | | | | 38,048 | |
| VeriSign, Inc.* (IT Services) | | | 1,014 | | | | 211,054 | |
| ViaSat, Inc.* (Communications Equipment) | | | 566 | | | | 36,026 | |
| Viavi Solutions, Inc.* (Communications Equipment) | | | 2,257 | | | | 31,824 | |
| VMware, Inc.*—Class A (Software) | | | 776 | | | | 114,895 | |
| Western Digital Corp. (Technology Hardware, Storage & Peripherals) | | | 2,921 | | | | 191,326 | |
| Workday, Inc.*—Class A (Software) | | | 1,611 | | | | 297,439 | |
| Xerox Holdings Corp. (Technology Hardware, Storage & Peripherals) | | | 1,827 | | | | 64,986 | |
| Xilinx, Inc. (Semiconductors & Semiconductor Equipment) | | | 2,469 | | | | 208,581 | |
| Zayo Group Holdings, Inc.* (Diversified Telecommunication Services) | | | 2,326 | | | | 80,829 | |
| Zendesk, Inc.* (Software) | | | 1,101 | | | | 95,126 | |
| Zillow Group, Inc.*—Class A (Interactive Media & Services) | | | 338 | | | | 15,616 | |
| Zillow Group, Inc.*—Class C (Interactive Media & Services) | | | 1,234 | | | | 57,023 | |
| Zoom Video Communications, Inc.* (Software) | | | 252 | | | | 19,228 | |
| Zscaler, Inc.* (Software) | | | 641 | | | | 35,954 | |
TOTAL COMMON STOCKS
(Cost $46,440,484) | | | | | | | 70,638,170 | |
See accompanying notes to the financial statements.
134 :: Technology UltraSector ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Repurchase Agreements(b)(c) (27.3%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $25,031,038 | | $ | 25,028,000 | | | $ | 25,028,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $25,028,000) | | | | | | | 25,028,000 | |
Collateral for Securities Loaned(NM)
| | | Shares | | | Value | |
BlackRock Liquidity Funds FedFund
Portfolio—Institutional Shares, 1.81%(d) | | | 19,624 | | | $ | 19,624 | |
Invesco Government & Agency
Portfolio—Institutional Shares, 1.77%(d) | | | 6,013 | | | | 6,013 | |
Fidelity Investments Money Market
Government Portfolio—Class I, 1.80%(d) | | | 18,671 | | | | 18,671 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $44,308) | | | | | | | 44,308 | |
TOTAL INVESTMENT SECURITIES
(Cost $71,512,792)—104.5% | | | | | | | 95,710,478 | |
| Net other assets (liabilities)—(4.5)% | | | | | | | (4,116,498 | ) |
| NET ASSETS—100.0% | | | | | | $ | 91,593,980 | |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2020. The total value of securities on loan as of January 31, 2020 was $41,738. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (c) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $14,458,000. |
| (d) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2020. |
| NM | Not meaningful, amount is less than 0.05%. |
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Dow Jones U.S. Technology Index | | Goldman Sachs International | | 2/24/20 | | | 2.09 | % | | $ | 33,040,549 | | | $ | (1,302,423 | ) |
| Dow Jones U.S. Technology Index | | UBS AG | | 2/24/20 | | | 2.19 | % | | | 33,561,438 | | | | (1,212,455 | ) |
| | | | | | | | | | | $ | 66,601,987 | | | $ | (2,514,878 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Technology UltraSector ProFund :: 135
Technology UltraSector ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Communications Equipment | | $ | 2,987,384 | | | | 3.3 | % |
| Diversified Telecommunication Services | | | 212,443 | | | | 0.2 | % |
| Electronic Equipment, Instruments & Components | | | 289,398 | | | | 0.3 | % |
| Health Care Technology | | | 411,162 | | | | 0.4 | % |
| Household Durables | | | 137,572 | | | | 0.2 | % |
| Interactive Media & Services | | | 13,904,331 | | | | 15.2 | % |
| Internet & Direct Marketing Retail | | | 371,373 | | | | 0.4 | % |
| IT Services | | | 3,296,353 | | | | 3.6 | % |
| Media | | | 68,423 | | | | 0.1 | % |
| Semiconductors & Semiconductor Equipment | | | 11,883,549 | | | | 13.0 | % |
| Software | | | 23,231,617 | | | | 25.4 | % |
| Technology Hardware, Storage & Peripherals | | | 13,844,565 | | | | 15.1 | % |
| Other** | | | 20,955,810 | | | | 22.8 | % |
| Total | | $ | 91,593,980 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
See accompanying notes to the financial statements.
136 :: Telecommunications UltraSector ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks (72.7%)
| | | Shares | | | Value | |
| Acacia Communications, Inc.* (Communications Equipment) | | | 123 | | | $ | 8,432 | |
| ADTRAN, Inc. (Communications Equipment) | | | 157 | | | | 1,421 | |
| Applied Optoelectronics, Inc.*(a)(Communications Equipment) | | | 62 | | | | 701 | |
| Arista Networks, Inc.* (Communications Equipment) | | | 177 | | | | 39,531 | |
| AT&T, Inc. (Diversified Telecommunication Services) | | | 5,316 | | | | 199,989 | |
| ATN International, Inc. (Diversified Telecommunication Services) | | | 35 | | | | 2,025 | |
| CalAmp Corp.* (Communications Equipment) | | | 111 | | | | 1,068 | |
| CenturyLink, Inc. (Diversified Telecommunication Services) | | | 2,897 | | | | 39,573 | |
| Ciena Corp.* (Communications Equipment) | | | 506 | | | | 20,579 | |
| Cincinnati Bell, Inc.* (Diversified Telecommunication Services) | | | 166 | | | | 2,276 | |
| Cisco Systems, Inc. (Communications Equipment) | | | 917 | | | | 42,154 | |
| CommScope Holding Co., Inc.* (Communications Equipment) | | | 635 | | | | 7,737 | |
| Comtech Telecommunications Corp. (Communications Equipment) | | | 80 | | | | 2,313 | |
| Consolidated Communications Holdings, Inc. (Diversified Telecommunication Services) | | | 236 | | | | 1,140 | |
| EchoStar Corp.* (Communications Equipment) | | | 151 | | | | 6,026 | |
| Extreme Networks, Inc.* (Communications Equipment) | | | 397 | | | | 2,342 | |
| F5 Networks, Inc.* (Communications Equipment) | | | 199 | | | | 24,302 | |
| Garmin, Ltd. (Household Durables) | | | 417 | | | | 40,428 | |
| GCI Liberty, Inc.* (Media) | | | 311 | | | | 22,759 | |
| Globalstar, Inc.* (Diversified Telecommunication Services) | | | 1,994 | | | | 949 | |
| Harmonic, Inc.* (Communications Equipment) | | | 296 | | | | 2,082 | |
| Iridium Communications, Inc.* (Diversified Telecommunication Services) | | | 319 | | | | 8,150 | |
| Juniper Networks, Inc. (Communications Equipment) | | | 1,096 | | | | 25,142 | |
| Lumentum Holdings, Inc.* (Communications Equipment) | | | 253 | | | | 19,170 | |
| Motorola Solutions, Inc. (Communications Equipment) | | | 251 | | | | 44,428 | |
| NETGEAR, Inc.* (Communications Equipment) | | | 99 | | | | 2,546 | |
| NetScout Systems, Inc.* (Communications Equipment) | | | 216 | | | | 5,553 | |
| ORBCOMM, Inc.* (Diversified Telecommunication Services) | | | 255 | | | | 915 | |
| Plantronics, Inc. (Communications Equipment) | | | 108 | | | | 3,102 | |
| Shenandoah Telecommunications Co. (Wireless Telecommunication Services) | | | 154 | | | | 6,214 | |
| Spok Holdings, Inc. (Wireless Telecommunication Services) | | | 57 | | | | 605 | |
| Sprint Corp.* (Wireless Telecommunication Services) | | | 2,016 | | | | 8,810 | |
| Telephone & Data Systems, Inc. (Wireless Telecommunication Services) | | | 320 | | | | 7,258 | |
| T-Mobile U.S., Inc.* (Wireless Telecommunication Services) | | | 544 | | | | 43,079 | |
| U.S. Cellular Corp.* (Wireless Telecommunication Services) | | | 50 | | | | 1,601 | |
| Ubiquiti, Inc. (Communications Equipment) | | | 40 | | | | 6,537 | |
| Verizon Communications, Inc. (Diversified Telecommunication Services) | | | 3,323 | | | | 197,519 | |
| ViaSat, Inc.* (Communications Equipment) | | | 188 | | | | 11,966 | |
| Viavi Solutions, Inc.* (Communications Equipment) | | | 752 | | | | 10,603 | |
| Vonage Holdings Corp.* (Diversified Telecommunication Services) | | | 747 | | | | 6,626 | |
| Zayo Group Holdings, Inc.* (Diversified Telecommunication Services) | | | 775 | | | | 26,931 | |
TOTAL COMMON STOCKS
(Cost $660,458) | | | | | | | 904,582 | |
Repurchase Agreements(b)(c) (25.1%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $312,038 | | $ | 312,000 | | | $ | 312,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $312,000) | | | | | | | 312,000 | |
Collateral for Securities Loaned(NM)
| | | Shares | | | Value | |
| BlackRock Liquidity Funds FedFund Portfolio—Institutional Shares, 1.81%(d) | | | 255 | | | $ | 255 | |
| Invesco Government & Agency Portfolio—Institutional Shares, 1.77%(d) | | | 78 | | | | 78 | |
| Fidelity Investments Money Market Government Portfolio—Class I, 1.80%(d) | | | 243 | | | | 243 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $576) | | | | | | | 576 | |
TOTAL INVESTMENT SECURITIES
(Cost $973,034)—97.8% | | | | | | | 1,217,158 | |
| Net other assets (liabilities)—2.2% | | | | | | | 27,726 | |
| NET ASSETS—100.0% | | | | | | $ | 1,244,884 | |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2020. The total value of securities on loan as of January 31, 2020 was $542. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (c) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $236,000. |
| (d) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2020. |
| NM | Not meaningful, amount is less than 0.05%. |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Telecommunications UltraSector ProFund :: 137
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Dow Jones U.S. Select Telecommunications Index | | Goldman Sachs International | | 2/24/20 | | | 2.09 | % | | $ | 458,694 | | | $ | (18,805 | ) |
| Dow Jones U.S. Select Telecommunications Index | | UBS AG | | 2/24/20 | | | 1.94 | % | | | 487,290 | | | | (18,950 | ) |
| | | | | | | | | | | $ | 945,984 | | | $ | (37,755 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
Telecommunications UltraSector ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Communications Equipment | | $ | 287,735 | | | | 23.2 | % |
| Diversified Telecommunication Services | | | 486,093 | | | | 39.1 | % |
| Household Durables | | | 40,428 | | | | 3.2 | % |
| Media | | | 22,759 | | | | 1.8 | % |
| Wireless Telecommunication Services | | | 67,567 | | | | 5.4 | % |
| Other** | | | 340,302 | | | | 27.3 | % |
| Total | | $ | 1,244,884 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
See accompanying notes to the financial statements.
138 :: U.S. Government Plus ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
U.S. Treasury Obligation (34.3%)
| | | Principal
Amount | | | Value |
| U.S. Treasury Bond, 2.38%, 11/15/49 | | $ | 12,120,000 | | | $ | 13,145,466 |
TOTAL U.S. TREASURY OBLIGATION
(Cost $12,291,474) | | | | | | | 13,145,466 |
| Repurchase Agreements(a)(b) (63.6%) | | | | | | | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $24,412,963 | | | 24,410,000 | | | | 24,410,000 |
TOTAL REPURCHASE AGREEMENTS
(Cost $24,410,000) | | | | | | | 24,410,000 |
TOTAL INVESTMENT SECURITIES
(Cost $36,701,474)—97.9% | | | | | | | 37,555,466 |
| Net other assets (liabilities)—2.1% | | | | | | | 811,296 |
| NET ASSETS—100.0% | | | | | | $ | 38,366,762 |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $239,000. |
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) |
| 30-Year U.S. Treasury Bond, 2.375% due on 11/15/49 | | Citibank North America | | 2/17/20 | | | 1.70 | % | | $ | 33,351,738 | | | $ | 1,219,763 |
| 30-Year U.S. Treasury Bond, 2.375% due on 11/15/49 | | Societe' Generale | | 2/17/20 | | | 1.77 | % | | | 1,301,531 | | | | 65,309 |
| | | | | | | | | | | $ | 34,653,269 | | | $ | 1,285,072 |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: UltraBear ProFund :: 139
Repurchase Agreements(a)(b) (92.9%)
| | | Principal
Amount | | | Value |
| Repurchase Agreements with various counterparties, rates 1.32%-1.51%, dated 1/31/20, due 2/3/20, total to be received $9,164,112 | | $ | 9,163,000 | | | $ | 9,163,000 |
TOTAL REPURCHASE AGREEMENTS
(Cost $9,163,000) | | | | | | | 9,163,000 |
TOTAL INVESTMENT SECURITIES
(Cost $9,163,000)—92.9% | | | | | | | 9,163,000 |
| Net other assets (liabilities)—7.1% | | | | | | | 700,923 |
| NET ASSETS—100.0% | | | | | | $ | 9,863,923 |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $2,713,000. |
Futures Contracts Sold
| | | Number
of
Contracts | | Expiration
Date | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini S&P 500 Futures Contracts | | 7 | | 3/23/20 | | $ | (1,127,875 | ) | | $ | (18,089 | ) |
Total Return Swap Agreements—Short
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | Value and
Unrealized
Appreciation/
(Depreciation) |
| S&P 500 | | Goldman Sachs International | | 2/27/20 | | (1.94 | )% | | $ | (9,936,738 | ) | $ | 51,643 |
| S&P 500 | | UBS AG | | 2/27/20 | | (1.74 | )% | | | (8,810,115 | ) | | 30,118 |
| | | | | | | | | | $ | (18,746,853 | ) | $ | 81,761 |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
140 :: UltraBull ProFund ::Summary Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks (63.8%)
| | | Percentage
of Net Assets | | | Shares | | | Value | |
| Abbott Laboratories (Health Care Equipment & Supplies) | | | 0.4 | % | | | 6,572 | | | $ | 572,684 | |
| Accenture PLC—Class A (IT Services) | | | 0.3 | % | | | 2,361 | | | | 484,501 | |
| Adobe, Inc.* (Software) | | | 0.4 | % | | | 1,800 | | | | 632,052 | |
| Alphabet, Inc.—Class C* (Interactive Media & Services) | | | 1.0 | % | | | 1,111 | | | | 1,593,430 | |
| Alphabet, Inc.—Class A* (Interactive Media & Services) | | | 1.0 | % | | | 1,115 | | | | 1,597,550 | |
| Amazon.com, Inc.* (Internet & Direct Marketing Retail) | | | 2.0 | % | | | 1,549 | | | | 3,111,507 | |
| Amgen, Inc. (Biotechnology) | | | 0.3 | % | | | 2,210 | | | | 477,470 | |
| Apple, Inc. (Technology Hardware, Storage & Peripherals) | | | 3.1 | % | | | 15,531 | | | | 4,807,000 | |
| AT&T, Inc. (Diversified Telecommunication Services) | | | 0.7 | % | | | 27,165 | | | | 1,021,947 | |
| Bank of America Corp. (Banks) | | | 0.6 | % | | | 30,103 | | | | 988,282 | |
| Berkshire Hathaway, Inc.—Class B* (Diversified Financial Services) | | | 1.0 | % | | | 7,274 | | | | 1,632,504 | |
| Bristol-Myers Squibb Co. (Pharmaceuticals) | | | 0.4 | % | | | 8,718 | | | | 548,798 | |
| Chevron Corp. (Oil, Gas & Consumable Fuels) | | | 0.5 | % | | | 7,032 | | | | 753,409 | |
| Cisco Systems, Inc. (Communications Equipment) | | | 0.5 | % | | | 15,775 | | | | 725,177 | |
| Citigroup, Inc. (Banks) | | | 0.4 | % | | | 8,118 | | | | 604,060 | |
| Comcast Corp.—Class A (Media) | | | 0.5 | % | | | 16,881 | | | | 729,090 | |
| Costco Wholesale Corp. (Food & Staples Retailing) | | | 0.3 | % | | | 1,643 | | | | 501,969 | |
| Exxon Mobil Corp. (Oil, Gas & Consumable Fuels) | | | 0.6 | % | | | 15,734 | | | | 977,397 | |
| Facebook, Inc.—Class A* (Interactive Media & Services) | | | 1.2 | % | | | 8,949 | | | | 1,806,893 | |
| Honeywell International, Inc. (Industrial Conglomerates) | | | 0.3 | % | | | 2,657 | | | | 460,245 | |
| Intel Corp. (Semiconductors & Semiconductor Equipment) | | | 0.7 | % | | | 16,177 | | | | 1,034,195 | |
| International Business Machines Corp. (IT Services) | | | 0.3 | % | | | 3,293 | | | | 473,303 | |
| Johnson & Johnson(Pharmaceuticals) | | | 0.9 | % | | | 9,786 | | | | 1,456,843 | |
| JPMorgan Chase & Co. (Banks) | | | 1.0 | % | | | 11,665 | | | | 1,543,980 | |
| MasterCard, Inc.—Class A (IT Services) | | | 0.7 | % | | | 3,301 | | | | 1,042,917 | |
| McDonald's Corp. (Hotels, Restaurants & Leisure) | | | 0.4 | % | | | 2,802 | | | | 599,544 | |
| Medtronic PLC (Health Care Equipment & Supplies) | | | 0.4 | % | | | 4,984 | | | | 575,353 | |
| Merck & Co., Inc. (Pharmaceuticals) | | | 0.5 | % | | | 9,467 | | | | 808,860 | |
| Microsoft Corp. (Software) | | | 3.1 | % | | | 28,369 | | | | 4,829,256 | |
| Netflix, Inc.* (Entertainment) | | | 0.4 | % | | | 1,630 | | | | 562,497 | |
| NextEra Energy, Inc. (Electric Utilities) | | | 0.3 | % | | | 1,817 | | | | 487,319 | |
| NVIDIA Corp. (Semiconductors & Semiconductor Equipment) | | | 0.3 | % | | | 2,276 | | | | 538,115 | |
| PayPal Holdings, Inc.* (IT Services) | | | 0.3 | % | | | 4,366 | | | | 497,244 | |
| PepsiCo, Inc. (Beverages) | | | 0.5 | % | | | 5,185 | | | | 736,374 | |
| Pfizer, Inc. (Pharmaceuticals) | | | 0.5 | % | | | 20,578 | | | | 766,325 | |
| Philip Morris International, Inc. (Tobacco) | | | 0.3 | % | | | 5,785 | | | | 478,420 | |
| Salesforce.com, Inc.* (Software) | | | 0.4 | % | | | 3,298 | | | | 601,258 | |
| The Boeing Co. (Aerospace & Defense) | | | 0.4 | % | | | 1,989 | | | | 633,038 | |
| The Coca-Cola Co. (Beverages) | | | 0.5 | % | | | 14,339 | | | | 837,397 | |
| The Home Depot, Inc. (Specialty Retail) | | | 0.6 | % | | | 4,056 | | | | 925,174 | |
| The Procter & Gamble Co. (Household Products) | | | 0.7 | % | | | 9,273 | | | | 1,155,601 | |
| The Walt Disney Co. (Entertainment) | | | 0.6 | % | | | 6,703 | | | | 927,092 | |
| Thermo Fisher Scientific, Inc. (Life Sciences Tools & Services) | | | 0.3 | % | | | 1,491 | | | | 466,966 | |
| Union Pacific Corp. (Road & Rail) | | | 0.3 | % | | | 2,582 | | | | 463,261 | |
| UnitedHealth Group, Inc. (Health Care Providers & Services) | | | 0.6 | % | | | 3,524 | | | | 960,114 | |
| Verizon Communications, Inc. (Diversified Telecommunication Services) | | | 0.6 | % | | | 15,379 | | | | 914,128 | |
| Visa, Inc.—Class A (IT Services) | | | 0.8 | % | | | 6,366 | | | | 1,266,642 | |
| Walmart, Inc. (Food & Staples Retailing) | | | 0.4 | % | | | 5,276 | | | | 604,049 | |
| Wells Fargo & Co. (Banks) | | | 0.4 | % | | | 14,312 | | | | 671,805 | |
| Other Common Stocks(a) | | | 31.1 | % | | | 649,155 | | | | 48,498,901 | |
TOTAL COMMON STOCKS
(Cost $52,716,803) | | | | | | | | | | | 99,381,936 | |
Repurchase Agreements(b)(c) (36.5%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $56,800,895 | | $ | 56,794,000 | | | $ | 56,794,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $56,794,000) | | | | | | | 56,794,000 | |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Summary Schedule of Portfolio Investments:: UltraBull ProFund :: 141
Collateral for Securities Loaned(NM)
| | | Shares | | | Value | |
| BlackRock Liquidity Funds FedFund Portfolio—Institutional Shares, 1.81%(d) | | | 21,203 | | | $ | 21,203 | |
| Invesco Government & Agency Portfolio—Institutional Shares, 1.77%(d) | | | 6,497 | | | | 6,497 | |
| Fidelity Investments Money Market Government Portfolio—Class I, 1.80%(d) | | | 20,172 | | | | 20,172 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $47,872) | | | | | | | 47,872 | |
TOTAL INVESTMENT SECURITIES
(Cost $109,558,675)—100.3% | | | | | | | 156,223,808 | |
| Net other assets (liabilities)—(0.3)% | | | | | | | (503,468 | ) |
| NET ASSETS—100.0% | | | | | | $ | 155,720,340 | |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2020. The total value of securities on loan as of January 31, 2020 was $46,151. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $24,836,000. |
| (c) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (d) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2020. |
Futures Contracts Purchased
| | | Number
of
Contracts | | | Expiration
Date | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini S&P 500 Futures Contracts | | 205 | | | 3/23/20 | | $ | 33,030,625 | | | $ | 231,777 | |
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| S&P 500 | | Goldman Sachs International | | 2/27/20 | | | 2.14 | % | | $ | 59,633,323 | | | $ | (191,167 | ) |
| SPDR S&P 500 ETF | | Goldman Sachs International | | 2/27/20 | | | 2.04 | % | | | 34,048,709 | | | | (42,659 | ) |
| | | | | | | | | | | $ | 93,682,032 | | | $ | (233,826 | ) |
| S&P 500 | | UBS AG | | 2/27/20 | | | 2.09 | % | | $ | 56,429,982 | | | $ | (53,558 | ) |
| SPDR S&P 500 ETF | | UBS AG | | 2/27/20 | | | 1.69 | % | | | 28,392,763 | | | | 86,410 | |
| | | | | | | | | | | $ | 84,822,745 | | | $ | 32,852 | |
| | | | | | | | Total unrealized appreciation | | | $ | 86,410 | |
| | | | | | | | Total unrealized (depreciation) | | | | (287,384 | ) |
| | Total net unrealized appreciation/(depreciation) | | | $ | (200,974 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
142 :: UltraBull ProFund ::Summary Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
UltraBull ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 2,502,848 | | | | 1.6 | % |
| Air Freight & Logistics | | | 481,498 | | | | 0.3 | % |
| Airlines | | | 345,090 | | | | 0.2 | % |
| Auto Components | | | 106,800 | | | | 0.1 | % |
| Automobiles | | | 302,915 | | | | 0.2 | % |
| Banks | | | 5,185,767 | | | | 3.3 | % |
| Beverages | | | 1,870,042 | | | | 1.2 | % |
| Biotechnology | | | 1,848,762 | | | | 1.2 | % |
| Building Products | | | 265,303 | | | | 0.2 | % |
| Capital Markets | | | 2,745,083 | | | | 1.8 | % |
| Chemicals | | | 1,753,139 | | | | 1.1 | % |
| Commercial Services & Supplies | | | 435,108 | | | | 0.3 | % |
| Communications Equipment | | | 939,032 | | | | 0.6 | % |
| Construction & Engineering | | | 67,345 | | | | NM | |
| Construction Materials | | | 130,884 | | | | 0.1 | % |
| Consumer Finance | | | 656,239 | | | | 0.4 | % |
| Containers & Packaging | | | 342,981 | | | | 0.2 | % |
| Distributors | | | 87,756 | | | | 0.1 | % |
| Diversified Consumer Services | | | 16,797 | | | | NM | |
| Diversified Financial Services | | | 1,632,504 | | | | 1.0 | % |
| Diversified Telecommunication Services | | | 1,985,879 | | | | 1.3 | % |
| Electric Utilities | | | 2,190,279 | | | | 1.4 | % |
| Electrical Equipment | | | 472,459 | | | | 0.3 | % |
| Electronic Equipment, Instruments & Components | | | 525,501 | | | | 0.3 | % |
| Energy Equipment & Services | | | 367,620 | | | | 0.2 | % |
| Entertainment | | | 1,861,932 | | | | 1.2 | % |
| Equity Real Estate Investment Trusts | | | 2,876,073 | | | | 1.8 | % |
| Food & Staples Retailing | | | 1,483,678 | | | | 1.0 | % |
| Food Products | | | 1,131,465 | | | | 0.7 | % |
| Gas Utilities | | | 51,961 | | | | NM | |
| Health Care Equipment & Supplies | | | 3,563,764 | | | | 2.3 | % |
| Health Care Providers & Services | | | 2,666,902 | | | | 1.7 | % |
| Health Care Technology | | | 83,826 | | | | 0.1 | % |
| Hotels, Restaurants & Leisure | | | 1,850,738 | | | | 1.2 | % |
| Household Durables | | | 405,055 | | | | 0.3 | % |
| Household Products | | | 1,714,304 | | | | 1.1 | % |
| Independent Power and Renewable Electricity Producers | | | 83,467 | | | | 0.1 | % |
| Industrial Conglomerates | | | 1,351,229 | | | | 0.9 | % |
| Insurance | | | 2,306,696 | | | | 1.5 | % |
| Interactive Media & Services | | | 5,091,609 | | | | 3.3 | % |
| Internet & Direct Marketing Retail | | | 3,548,912 | | | | 2.3 | % |
| IT Services | | | 5,588,769 | | | | 3.6 | % |
| Leisure Products | | | 48,185 | | | | NM | |
| Life Sciences Tools & Services | | | 984,594 | | | | 0.6 | % |
| Machinery | | | 1,511,730 | | | | 1.0 | % |
| Media | | | 1,375,873 | | | | 0.9 | % |
| Metals & Mining | | | 250,718 | | | | 0.2 | % |
| Multiline Retail | | | 488,279 | | | | 0.3 | % |
| Multi-Utilities | | | 1,107,930 | | | | 0.7 | % |
| Oil, Gas & Consumable Fuels | | | 3,473,776 | | | | 2.2 | % |
| Personal Products | | | 172,632 | | | | 0.1 | % |
| Pharmaceuticals | | | 4,555,050 | | | | 2.9 | % |
| Professional Services | | | 336,640 | | | | 0.2 | % |
| Real Estate Management & Development | | | 76,007 | | | | NM | |
| Road & Rail | | | 1,028,968 | | | | 0.7 | % |
| Semiconductors & Semiconductor Equipment | | | 4,167,768 | | | | 2.7 | % |
| Software | | | 7,634,764 | | | | 4.9 | % |
| Specialty Retail | | | 2,232,408 | | | | 1.4 | % |
| Technology Hardware, Storage & Peripherals | | | 5,182,782 | | | | 3.3 | % |
| Textiles, Apparel & Luxury Goods | | | 680,988 | | | | 0.4 | % |
| Tobacco | | | 808,658 | | | | 0.5 | % |
| Trading Companies & Distributors | | | 161,522 | | | | 0.1 | % |
| Water Utilities | | | 91,526 | | | | 0.1 | % |
| Wireless Telecommunication Services | | | 93,127 | | | | 0.1 | % |
| Other** | | | 56,338,404 | | | | 36.2 | % |
| Total | | $ | 155,720,340 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
| NM | Not meaningful, amount is less than 0.05%. |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: UltraChina ProFund :: 143
Common Stocks (83.2%)
| | | Shares | | | Value | |
| 360 Finance, Inc.*ADR (Consumer Finance) | | | 1,868 | | | $ | 17,055 | |
| 58.com, Inc.*ADR (Interactive Media & Services) | | | 3,490 | | | | 194,114 | |
| Alibaba Group Holding, Ltd.*ADR (Internet & Direct Marketing Retail) | | | 14,587 | | | | 3,013,527 | |
| Autohome, Inc.*ADR (Interactive Media & Services) | | | 2,140 | | | | 163,667 | |
| Baidu, Inc.*ADR (Interactive Media & Services) | | | 9,836 | | | | 1,215,336 | |
| Baozun, Inc.*ADR(a) (Internet & Direct Marketing Retail) | | | 1,460 | | | | 43,961 | |
| Beigene, Ltd.*ADR (Biotechnology) | | | 958 | | | | 145,961 | |
| BEST, Inc.*ADR (Air Freight & Logistics) | | | 8,121 | | | | 43,123 | |
| Bilibili, Inc.*ADR (Entertainment) | | | 2,993 | | | | 64,499 | |
| Bitauto Holdings, Ltd.*ADR (Interactive Media & Services) | | | 978 | | | | 14,768 | |
| China Life Insurance Co., Ltd.ADR (Insurance) | | | 50,827 | | | | 605,350 | |
| China Mobile, Ltd.ADR (Wireless Telecommunication Services) | | | 39,624 | | | | 1,626,169 | |
| China Petroleum & Chemical Corp.ADR(Oil, Gas & Consumable Fuels) | | | 9,611 | | | | 503,905 | |
| China Southern Airlines Co., Ltd.ADR (Airlines) | | | 1,160 | | | | 32,028 | |
| China Telecom Corp., Ltd.ADR (Diversified Telecommunication Services) | | | 5,228 | | | | 202,376 | |
| China Unicom Hong Kong, Ltd.ADR (Diversified Telecommunication Services) | | | 21,901 | | | | 182,873 | |
| CNOOC, Ltd.ADR (Oil, Gas & Consumable Fuels) | | | 4,581 | | | | 691,731 | |
| Daqo New Energy Corp.*ADR(Semiconductors & Semiconductor Equipment) | | | 350 | | | | 17,703 | |
| DouYu International Holdings, Ltd.*ADR (Entertainment) | | | 2,569 | | | | 20,783 | |
| GDS Holdings, Ltd.*ADR (IT Services) | | | 2,797 | | | | 144,633 | |
| GSX Techedu, Inc.*ADR (Diversified Consumer Services) | | | 758 | | | | 24,779 | |
| Huazhu Group, Ltd.ADR (Hotels, Restaurants & Leisure) | | | 4,213 | | | | 145,349 | |
| HUYA, Inc.*ADR (Entertainment) | | | 2,189 | | | | 39,139 | |
| iQIYI, Inc.*ADR (Entertainment) | | | 10,123 | | | | 225,136 | |
| JD.com, Inc.*ADR (Internet & Direct Marketing Retail) | | | 31,284 | | | | 1,179,094 | |
| JinkoSolar Holding Co., Ltd.*ADR(Semiconductors & Semiconductor Equipment) | | | 1,202 | | | | 22,477 | |
| JOYY, Inc.*ADR (Interactive Media & Services) | | | 2,159 | | | | 130,684 | |
| Lexinfintech Holdings, Ltd.*ADR (Consumer Finance) | | | 2,242 | | | | 29,818 | |
| Luckin Coffee, Inc.*ADR(a) (Hotels, Restaurants & Leisure) | | | 1,403 | | | | 45,583 | |
| Momo, Inc.ADR (Interactive Media & Services) | | | 5,919 | | | | 181,121 | |
| NetEase, Inc.ADR (Entertainment) | | | 2,164 | | | | 694,125 | |
| New Oriental Education & Technology Group, Inc.*ADR (Diversified Consumer Services) | | | 4,477 | | | | 544,179 | |
| NIO, Inc.*ADR (Automobiles) | | | 25,860 | | | | 97,751 | |
| PetroChina Co., Ltd.ADR (Oil, Gas & Consumable Fuels) | | | 7,948 | | | | 349,791 | |
| Pinduoduo, Inc.*ADR (Internet & Direct Marketing Retail) | | | 13,581 | | | | 478,323 | |
| Qudian, Inc.*ADR (Consumer Finance) | | | 4,377 | | | | 12,606 | |
| Qutoutiao, Inc.*ADR(a) (Interactive Media & Services) | | | 4,624 | | | | 19,051 | |
| Sinopec Shanghai Petrochemical Co., Ltd.ADR (Chemicals) | | | 1,159 | | | | 29,531 | |
| Sogou, Inc.*ADR (Interactive Media & Services) | | | 2,376 | | | | 9,694 | |
| Sohu.com, Ltd.*ADR (Interactive Media & Services) | | | 1,138 | | | | 12,097 | |
| TAL Education Group*ADR (Diversified Consumer Services) | | | 14,516 | | | | 724,349 | |
| Tencent Music Entertainm*ADR (Entertainment) | | | 1,619 | | | | 20,545 | |
| Trip.com Group, Ltd.*ADR (Internet & Direct Marketing Retail) | | | 15,401 | | | | 494,834 | |
| Uxin, Ltd.*ADR (Internet & Direct Marketing Retail) | | | 3,896 | | | | 9,584 | |
| Vipshop Holdings, Ltd.*ADR (Internet & Direct Marketing Retail) | | | 14,360 | | | | 182,803 | |
| Weibo Corp.*ADR (Interactive Media & Services) | | | 2,414 | | | | 102,885 | |
| Zai Lab, Ltd.*ADR (Biotechnology) | | | 1,517 | | | | 77,352 | |
| ZTO Express Cayman, Inc.ADR (Air Freight & Logistics) | | | 16,274 | | | | 353,471 | |
TOTAL COMMON STOCKS
(Cost $9,721,319) | | | | | | | 15,179,713 | |
Repurchase Agreements(b)(c) (21.4%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $3,914,475 | | $ | 3,914,000 | | | $ | 3,914,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $3,914,000) | | | | | | | 3,914,000 | |
Collateral for Securities Loaned (0.6%)
| | | Shares | | | Value | |
| BlackRock Liquidity Funds FedFund Portfolio—Institutional Shares, 1.81%(d) | | | 48,243 | | | $ | 48,243 | |
| Invesco Government & Agency Portfolio—Institutional Shares, 1.77%(d) | | | 14,782 | | | | 14,782 | |
| Fidelity Investments Money Market Government Portfolio—Class I, 1.80%(d) | | | 45,898 | | | | 45,898 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $108,923) | | | | | | | 108,923 | |
TOTAL INVESTMENT SECURITIES
(Cost $13,744,242)—105.2% | | | | | | | 19,202,636 | |
| Net other assets (liabilities)—(5.2)% | | | | | | | (950,030 | ) |
| NET ASSETS—100.0% | | | | | | $ | 18,252,606 | |
See accompanying notes to the financial statements.
144 :: UltraChina ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2020. The total value of securities on loan as of January 31, 2020 was $96,875. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (c) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $554,000. |
| (d) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2020. |
| ADR | American Depositary Receipt |
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| S&P/BNY Mellon China Select ADR Index (USD) | | Goldman Sachs International | | 2/27/20 | | | 2.04 | % | | $ | 11,119,660 | | | $ | (263,938 | ) |
| S&P/BNY Mellon China Select ADR Index (USD) | | UBS AG | | 2/27/20 | | | 1.84 | % | | | 10,156,892 | | | | (239,032 | ) |
| | | | | | | | | | | $ | 21,276,552 | | | $ | (502,970 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
UltraChina ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Air Freight & Logistics | | $ | 396,594 | | | | 2.2 | % |
| Airlines | | | 32,028 | | | | 0.2 | % |
| Automobiles | | | 97,751 | | | | 0.5 | % |
| Biotechnology | | | 223,313 | | | | 1.2 | % |
| Chemicals | | | 29,531 | | | | 0.2 | % |
| Consumer Finance | | | 59,479 | | | | 0.3 | % |
| Diversified Consumer Services | | | 1,293,307 | | | | 7.1 | % |
| Diversified Telecommunication Services | | | 385,249 | | | | 2.1 | % |
| Entertainment | | | 1,064,227 | | | | 5.8 | % |
| Hotels, Restaurants & Leisure | | | 190,932 | | | | 1.0 | % |
| Insurance | | | 605,350 | | | | 3.3 | % |
| Interactive Media & Services | | | 2,043,417 | | | | 11.2 | % |
| Internet & Direct Marketing Retail | | | 5,402,126 | | | | 29.7 | % |
| IT Services | | | 144,633 | | | | 0.8 | % |
| Oil, Gas & Consumable Fuels | | | 1,545,427 | | | | 8.5 | % |
| Semiconductors & Semiconductor Equipment | | | 40,180 | | | | 0.2 | % |
| Wireless Telecommunication Services | | | 1,626,169 | | | | 8.9 | % |
| Other** | | | 3,072,893 | | | | 16.8 | % |
| Total | | $ | 18,252,606 | | | | 100.0 | % |
UltraChina ProFund invested in securities with exposure to the following countries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| China | | $ | 15,179,713 | | | | 83.2 | % |
| Other** | | | 3,072,893 | | | | 16.8 | % |
| Total | | $ | 18,252,606 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: UltraDow 30 ProFund :: 145
Common Stocks (71.2%)
| | | Shares | | | Value | |
| 3M Co. (Industrial Conglomerates) | | | 5,788 | | | $ | 918,324 | |
| American Express Co. (Consumer Finance) | | | 5,789 | | | | 751,817 | |
| Apple, Inc. (Technology Hardware, Storage & Peripherals) | | | 5,789 | | | | 1,791,753 | |
| Caterpillar, Inc. (Machinery) | | | 5,789 | | | | 760,385 | |
| Chevron Corp. (Oil, Gas & Consumable Fuels) | | | 5,790 | | | | 620,340 | |
| Cisco Systems, Inc. (Communications Equipment) | | | 5,790 | | | | 266,166 | |
| Dow, Inc. (Chemicals) | | | 5,790 | | | | 266,745 | |
| Exxon Mobil Corp. (Oil, Gas & Consumable Fuels) | | | 5,789 | | | | 359,613 | |
| Intel Corp. (Semiconductors & Semiconductor Equipment) | | | 5,790 | | | | 370,155 | |
| International Business Machines Corp. (IT Services) | | | 5,788 | | | | 831,910 | |
| Johnson & Johnson (Pharmaceuticals) | | | 5,788 | | | | 861,659 | |
| JPMorgan Chase & Co. (Banks) | | | 5,788 | | | | 766,100 | |
| McDonald's Corp. (Hotels, Restaurants & Leisure) | | | 5,788 | | | | 1,238,458 | |
| Merck & Co., Inc. (Pharmaceuticals) | | | 5,790 | | | | 494,698 | |
| Microsoft Corp. (Software) | | | 5,788 | | | | 985,291 | |
| NIKE, Inc.—Class B (Textiles, Apparel & Luxury Goods) | | | 5,790 | | | | 557,577 | |
| Pfizer, Inc. (Pharmaceuticals) | | | 5,790 | | | | 215,620 | |
| The Boeing Co. (Aerospace & Defense) | | | 5,777 | | | | 1,838,647 | |
| The Coca-Cola Co. (Beverages) | | | 5,790 | | | | 338,136 | |
| The Goldman Sachs Group, Inc. (Capital Markets) | | | 5,788 | | | | 1,376,097 | |
| The Home Depot, Inc. (Specialty Retail) | | | 5,789 | | | | 1,320,471 | |
| The Procter & Gamble Co. (Household Products) | | | 5,789 | | | | 721,425 | |
| The Travelers Cos., Inc. (Insurance) | | | 5,788 | | | | 761,817 | |
| The Walt Disney Co. (Entertainment) | | | 5,788 | | | | 800,538 | |
| United Technologies Corp. (Aerospace & Defense) | | | 5,787 | | | | 869,207 | |
| UnitedHealth Group, Inc. (Health Care Providers & Services) | | | 5,788 | | | | 1,576,940 | |
| Verizon Communications, Inc. (Diversified Telecommunication Services) | | | 5,790 | | | | 344,158 | |
| Visa, Inc.—Class A (IT Services) | | | 5,788 | | | | 1,151,639 | |
| Walgreens Boots Alliance, Inc. (Food & Staples Retailing) | | | 5,790 | | | | 294,422 | |
| Walmart, Inc. (Food & Staples Retailing) | | | 5,789 | | | | 662,782 | |
TOTAL COMMON STOCKS
(Cost $9,590,424) | | | | | | | 24,112,890 | |
Repurchase Agreements(a)(b) (24.7%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $8,374,016 | | $ | 8,373,000 | | | $ | 8,373,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $8,373,000) | | | | | | | 8,373,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $17,963,424)—95.9% | | | | | | | 32,485,890 | |
| Net other assets (liabilities)—4.1% | | | | | | | 1,392,401 | |
| NET ASSETS—100.0% | | | | | | $ | 33,878,291 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $5,078,000. |
Futures Contracts Purchased
| | | Number
of
Contracts | | | Expiration
Date | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini Dow Jones Futures Contracts | | 43 | | | 3/23/20 | | $ | 6,059,345 | | | $ | 9,395 | |
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Dow Jones Industrial Average | | Goldman Sachs International | | 2/27/20 | | | 2.09 | % | | $ | 16,199,654 | | | $ | (166,503 | ) |
| SPDR Dow Jones Industrial Average ETF | | Goldman Sachs International | | 2/27/20 | | | 1.94 | % | | | 2,381,168 | | | | (25,299 | ) |
| | | | | | | | | | | $ | 18,580,822 | | | $ | (191,802 | ) |
| Dow Jones Industrial Average | | UBS AG | | 2/27/20 | | | 2.09 | % | | $ | 11,405,784 | | | $ | (115,963 | ) |
| SPDR Dow Jones Industrial Average ETF | | UBS AG | | 2/27/20 | | | 1.89 | % | | | 7,561,635 | | | | (90,470 | ) |
| | | | | | | | | | | $ | 18,967,419 | | | $ | (206,433 | ) |
| | | | | | | | | | | $ | 37,548,241 | | | $ | (398,235 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
146 :: UltraDow 30 ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
UltraDow 30 ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 2,707,854 | | | | 8.0 | % |
| Banks | | | 766,100 | | | | 2.3 | % |
| Beverages | | | 338,136 | | | | 1.0 | % |
| Capital Markets | | | 1,376,097 | | | | 4.1 | % |
| Chemicals | | | 266,745 | | | | 0.8 | % |
| Communications Equipment | | | 266,166 | | | | 0.8 | % |
| Consumer Finance | | | 751,817 | | | | 2.2 | % |
| Diversified Telecommunication Services | | | 344,158 | | | | 1.0 | % |
| Entertainment | | | 800,538 | | | | 2.4 | % |
| Food & Staples Retailing | | | 957,204 | | | | 2.8 | % |
| Health Care Providers & Services | | | 1,576,941 | | | | 4.7 | % |
| Hotels, Restaurants & Leisure | | | 1,238,458 | | | | 3.7 | % |
| Household Products | | | 721,425 | | | | 2.1 | % |
| Industrial Conglomerates | | | 918,324 | | | | 2.7 | % |
| Insurance | | | 761,817 | | | | 2.2 | % |
| IT Services | | | 1,983,548 | | | | 5.9 | % |
| Machinery | | | 760,385 | | | | 2.2 | % |
| Oil, Gas & Consumable Fuels | | | 979,953 | | | | 2.9 | % |
| Pharmaceuticals | | | 1,571,977 | | | | 4.6 | % |
| Semiconductors & Semiconductor Equipment | | | 370,155 | | | | 1.1 | % |
| Software | | | 985,291 | | | | 2.9 | % |
| Specialty Retail | | | 1,320,471 | | | | 3.9 | % |
| Technology Hardware, Storage & Peripherals | | | 1,791,753 | | | | 5.3 | % |
| Textiles, Apparel & Luxury Goods | | | 557,577 | | | | 1.6 | % |
| Other** | �� | | 9,765,401 | | | | 28.8 | % |
| Total | | $ | 33,878,291 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: UltraEmerging Markets ProFund :: 147
Common Stocks (85.9%)
| | | Shares | | | Value | |
| 58.com, Inc.*ADR (Interactive Media & Services) | | | 899 | | | $ | 50,002 | |
| Alibaba Group Holding, Ltd.*ADR (Internet & Direct Marketing Retail) | | | 12,282 | | | | 2,537,338 | |
| Ambev S.A.ADR (Beverages) | | | 42,710 | | | | 177,674 | |
| America Movil S.A.B. de C.V.ADR (Wireless Telecommunication Services) | | | 11,325 | | | | 188,901 | |
| AngloGold Ashanti, Ltd.ADR (Metals & Mining) | | | 4,004 | | | | 81,521 | |
| ASE Technology Holding Co., Ltd.ADR(Semiconductors & Semiconductor Equipment) | | | 14,904 | | | | 70,645 | |
| Baidu, Inc.*ADR (Interactive Media & Services) | | | 2,664 | | | | 329,164 | |
| Banco Bradesco S.A.ADR (Banks) | | | 39,133 | | | | 298,585 | |
| Bancolombia S.A.ADR (Banks) | | | 1,097 | | | | 57,560 | |
| Beigene, Ltd.*ADR (Biotechnology) | | | 247 | | | | 37,633 | |
| BRF S.A.*ADR (Food Products) | | | 7,018 | | | | 49,898 | |
| Cemex S.A.B. de C.V.ADR (Construction Materials) | | | 14,693 | | | | 59,360 | |
| China Life Insurance Co., Ltd.ADR (Insurance) | | | 14,445 | | | | 172,040 | |
| China Mobile, Ltd.ADR (Wireless Telecommunication Services) | | | 10,731 | | | | 440,400 | |
| China Petroleum & Chemical Corp.ADR(Oil, Gas & Consumable Fuels) | | | 2,476 | | | | 129,817 | |
| China Telecom Corp., Ltd.ADR (Diversified Telecommunication Services) | | | 1,347 | | | | 52,142 | |
| Chunghwa Telecom Co., Ltd.ADR (Diversified Telecommunication Services) | | | 3,689 | | | | 131,919 | |
| CNOOC, Ltd.ADR (Oil, Gas & Consumable Fuels) | | | 1,561 | | | | 235,711 | |
| Enel Americas SAADR (Electric Utilities) | | | 7,089 | | | | 69,472 | |
| Fomento Economico Mexicano S.A.B. de C.V.ADR (Beverages) | | | 1,804 | | | | 162,667 | |
| Grupo Televisa SABADR (Media) | | | 4,912 | | | | 54,621 | |
| HDFC Bank, Ltd.ADR (Banks) | | | 13,010 | | | | 745,213 | |
| ICICI Bank, Ltd.ADR (Banks) | | | 15,254 | | | | 222,403 | |
| Infosys Technologies, Ltd.ADR (IT Services) | | | 36,268 | | | | 397,498 | |
| iQIYI, Inc.*ADR (Entertainment) | | | 2,608 | | | | 58,002 | |
| Itau Unibanco Holding S.A.ADR (Banks) | | | 47,033 | | | | 357,921 | |
| JD.com, Inc.*ADR (Internet & Direct Marketing Retail) | | | 8,473 | | | | 319,347 | |
| KB Financial Group, Inc.*ADR (Banks) | | | 3,814 | | | | 139,325 | |
| Korea Electric Power Corp.*ADR (Electric Utilities) | | | 4,985 | | | | 52,691 | |
| Momo, Inc.ADR (Interactive Media & Services) | | | 1,525 | | | | 46,665 | |
| NetEase, Inc.ADR (Entertainment) | | | 670 | | | | 214,909 | |
| New Oriental Education & Technology Group, Inc.*ADR (Diversified Consumer Services) | | | 1,153 | | | | 140,147 | |
| PetroChina Co., Ltd.ADR (Oil, Gas & Consumable Fuels) | | | 2,048 | | | | 90,132 | |
| Petroleo Brasileiro S.A.ADR (Oil, Gas & Consumable Fuels) | | | 13,003 | | | | 183,472 | |
| Pinduoduo, Inc.*ADR (Internet & Direct Marketing Retail) | | | 3,498 | | | | 123,200 | |
| POSCOADR (Metals & Mining) | | | 2,742 | | | | 121,772 | |
| PT Telekomunikasi Indonesia TbkADR(Diversified Telecommunication Services) | | | 4,615 | | | | 127,236 | |
| Sasol, Ltd.ADR (Chemicals) | | | 5,564 | | | | 87,745 | |
| Shinhan Financial Group Co., Ltd.*ADR (Banks) | | | 4,372 | | | | 141,610 | |
| SK Telecom Co., Ltd.ADR (Wireless Telecommunication Services) | | | 2,891 | | | | 61,318 | |
| Taiwan Semiconductor Manufacturing Co., Ltd.ADR (Semiconductors & Semiconductor Equipment) | | | 36,745 | | | | 1,982,025 | |
| TAL Education Group*ADR (Diversified Consumer Services) | | | 3,740 | | | | 186,626 | |
| Telefonica Brasil S.A.ADR (Diversified Telecommunication Services) | | | 4,021 | | | | 55,811 | |
| Trip.com Group, Ltd.*ADR (Internet & Direct Marketing Retail) | | | 3,968 | | | | 127,492 | |
| United Microelectronics Corp.ADR(Semiconductors & Semiconductor Equipment) | | | 19,801 | | | | 47,918 | |
| Vale S.A.ADR (Metals & Mining) | | | 30,775 | | | | 360,991 | |
| Wipro, Ltd.ADR (IT Services) | | | 13,307 | | | | 48,304 | |
| Woori Financial Group, Inc.*ADR (Banks) | | | 1,612 | | | | 40,945 | |
| ZTO Express Cayman, Inc.ADR (Air Freight & Logistics) | | | 4,193 | | | | 91,072 | |
TOTAL COMMON STOCKS
(Cost $7,411,145) | | | | | | | 11,958,860 | |
| | | | | | | | | |
Preferred Stock (2.1%)
| Petroleo Brasileiro S.A.ADR (Oil, Gas & Consumable Fuels) | | | 21,750 | | | | 288,188 | |
TOTAL PREFERRED STOCK
(Cost $33,580) | | | | | | | 288,188 | |
Repurchase Agreements(a)(b) (11.5%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $1,604,195 | | $ | 1,604,000 | | | $ | 1,604,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $1,604,000) | | | | | | | 1,604,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $9,048,725)—99.5% | | | | | | | 13,851,048 | |
| Net other assets (liabilities)—0.5% | | | | | | | 71,931 | |
| NET ASSETS—100.0% | | | | | | $ | 13,922,979 | |
| * | Non-income producing security. |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $493,000. |
| ADR | American Depositary Receipt |
See accompanying notes to the financial statements.
148 :: UltraEmerging Markets ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| S&P/BNY Mellon Emerging 50 ADR Index (USD) | | Goldman Sachs International | | 2/27/20 | | | | 2.04 | % | | $ | 6,879,425 | | | $ | (132,186 | ) |
| S&P/BNY Mellon Emerging 50 ADR Index (USD) | | UBS AG | | 2/27/20 | | | | 2.09 | % | | | 8,744,124 | | | | (187,746 | ) |
| | | | | | | | | | | | $ | 15,623,549 | | | $ | (319,932 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
UltraEmerging Markets ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Air Freight & Logistics | | $ | 91,072 | | | | 0.7 | % |
| Banks | | | 2,003,561 | | | | 14.4 | % |
| Beverages | | | 340,340 | | | | 2.4 | % |
| Biotechnology | | | 37,633 | | | | 0.3 | % |
| Chemicals | | | 87,744 | | | | 0.6 | % |
| Construction Materials | | | 59,360 | | | | 0.4 | % |
| Diversified Consumer Services | | | 326,773 | | | | 2.3 | % |
| Diversified Telecommunication Services | | | 367,108 | | | | 2.6 | % |
| Electric Utilities | | | 122,164 | | | | 0.9 | % |
| Entertainment | | | 272,911 | | | | 2.0 | % |
| Food Products | | | 49,898 | | | | 0.4 | % |
| Insurance | | | 172,040 | | | | 1.2 | % |
| Interactive Media & Services | | | 425,831 | | | | 3.1 | % |
| Internet & Direct Marketing Retail | | | 3,107,378 | | | | 22.2 | % |
| IT Services | | | 445,802 | | | | 3.2 | % |
| Media | | | 54,621 | | | | 0.4 | % |
| Metals & Mining | | | 564,284 | | | | 4.1 | % |
| Oil, Gas & Consumable Fuels | | | 927,320 | | | | 6.7 | % |
| Semiconductors & Semiconductor Equipment | | | 2,100,589 | | | | 15.1 | % |
| Wireless Telecommunication Services | | | 690,619 | | | | 5.0 | % |
| Other** | | | 1,675,931 | | | | 12.0 | % |
| Total | | $ | 13,922,979 | | | | 100.0 | % |
UltraEmerging Markets ProFund invested in securities with exposure to the following countries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Brazil | | $ | 1,772,540 | | | | 12.7 | % |
| Chile | | | 69,472 | | | | 0.5 | % |
| China | | | 4,941,439 | | | | 35.5 | % |
| Colombia | | | 57,560 | | | | 0.4 | % |
| Hong Kong | | | 440,400 | | | | 3.2 | % |
| India | | | 1,413,418 | | | | 10.2 | % |
| Indonesia | | | 127,236 | | | | 0.9 | % |
| Mexico | | | 465,549 | | | | 3.3 | % |
| South Africa | | | 169,266 | | | | 1.2 | % |
| South Korea | | | 557,661 | | | | 4.0 | % |
| Taiwan | | | 2,232,507 | | | | 16.0 | % |
| Other** | | | 1,675,931 | | | | 12.0 | % |
| Total | | $ | 13,922,979 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: UltraInternational ProFund :: 149
Repurchase Agreements(a)(b) (104.2%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $2,650,322 | | $ | 2,650,000 | | | $ | 2,650,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $2,650,000) | | | | | | | 2,650,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $2,650,000)—104.2% | | | | | | | 2,650,000 | |
| Net other assets (liabilities)—(4.2)% | | | | | | | (108,019 | ) |
| NET ASSETS—100.0% | | | | | | $ | 2,541,981 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $380,000. |
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| MSCI EAFE Index | | Goldman Sachs International | | 2/27/20 | | | | 1.89 | % | | $ | 3,165,785 | | | $ | (24,601 | ) |
| MSCI EAFE Index | | UBS AG | | 2/27/20 | | | | 2.39 | % | | | 1,911,811 | | | | (11,216 | ) |
| | | | | | | | | | | | $ | 5,077,596 | | | $ | (35,817 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
150 :: UltraJapan ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Repurchase Agreements(a) (94.5%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $12,530,521 | | $ | 12,529,000 | | | $ | 12,529,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $12,529,000) | | | | | | | 12,529,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $12,529,000)—94.5% | | | | | | | 12,529,000 | |
| Net other assets (liabilities)—5.5% | | | | | | | 728,437 | |
| NET ASSETS—100.0% | | | | | | $ | 13,257,437 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
Futures Contracts Purchased
| | | Number
of
Contracts | | Expiration
Date | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Nikkei 225 Futures Contracts | | 233 | | 3/13/20 | | $ | 26,439,675 | | | $ | (853,044 | ) |
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Nikkei 225 Stock Average | | Goldman Sachs International | | 2/27/20 | | | | 1.99 | % | | $ | 127,737 | | | $ | (2,029 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: UltraLatin America ProFund :: 151
Common Stocks (78.9%)
| | | Shares | | | Value | |
| Ambev S.A.ADR (Beverages) | | | 239,789 | | | $ | 997,522 | |
| America Movil S.A.B. de C.V.ADR(Wireless Telecommunication Services) | | | 69,425 | | | | 1,158,009 | |
| Azul SA*ADR (Airlines) | | | 6,739 | | | | 279,669 | |
| Banco Bradesco S.A.ADR (Banks) | | | 283,478 | | | | 2,162,937 | |
| Banco de ChileADR (Banks) | | | 17,728 | | | | 352,787 | |
| Banco Santander Brasil S.A.ADR (Banks) | | | 29,936 | | | | 290,379 | |
| Banco Santander ChileADR (Banks) | | | 12,401 | | | | 248,516 | |
| Bancolombia S.A.ADR (Banks) | | | 9,017 | | | | 473,121 | |
| BRF S.A.*ADR (Food Products) | | | 57,645 | | | | 409,856 | |
| Cemex S.A.B. de C.V.ADR (Construction Materials) | | | 120,752 | | | | 487,838 | |
| Centrais Eletricas Brasileiras S.A. (Electrobras)ADR (Electric Utilities) | | | 26,089 | | | | 237,671 | |
| Chemical & Mining Company of Chile, Inc.ADR (Chemicals) | | | 8,838 | | | | 248,348 | |
| Cia Energetica de Minas GeraisADR(Electric Utilities) | | | 77,467 | | | | 268,036 | |
| Coca-Cola Femsa S.A.B. de C.V.ADR(Beverages) | | | 4,190 | | | | 255,381 | |
| Companhia de Minas Buenaventura S.A.ADR(Metals & Mining) | | | 17,981 | | | | 232,494 | |
| Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP)ADR(Water Utilities) | | | 27,262 | | | | 386,030 | |
| Ecopetrol S.A.ADR (Oil, Gas & Consumable Fuels) | | | 19,679 | | | | 364,062 | |
| Embraer S.A.*ADR (Aerospace & Defense) | | | 13,880 | | | | 233,739 | |
| Enel Americas SAADR (Electric Utilities) | | | 58,267 | | | | 571,017 | |
| Fomento Economico Mexicano S.A.B. de C.V.ADR (Beverages) | | | 11,402 | | | | 1,028,118 | |
| Gerdau S.A.ADR(a) (Metals & Mining) | | | 84,107 | | | | 393,621 | |
| Grupo Aeroportuario del Pacifico S.A.B. de C.V.ADR (Transportation Infrastructure) | | | 3,430 | | | | 208,338 | |
| Grupo Aeroportuario del Pacifico S.A.B. de C.V.ADR (Transportation Infrastructure) | | | 3,004 | | | | 371,535 | |
| Grupo Aeroportuario del Surest S.A.B. de C.V.ADR (Transportation Infrastructure) | | | 1,613 | | | | 310,970 | |
| Grupo Televisa SABADR (Media) | | | 40,382 | | | | 449,048 | |
| Itau Unibanco Holding S.A.ADR (Banks) | | | 340,703 | | | | 2,592,751 | |
| Latam Airlines Group S.A.ADR (Airlines) | | | 18,381 | | | | 152,011 | |
| Petroleo Brasileiro S.A.ADR (Oil, Gas & Consumable Fuels) | | | 67,969 | | | | 959,043 | |
| Suzano Papel e Celulose S.A.ADR (Paper & Forest Products) | | | 42,349 | | | | 390,034 | |
| Telefonica Brasil S.A.ADR (Diversified Telecommunication Services) | | | 33,038 | | | | 458,567 | |
| TIM Participacoes S.A.ADR (Wireless Telecommunication Services) | | | 12,749 | | | | 247,968 | |
| Ultrapar Participacoes S.A.ADR (Oil, Gas & Consumable Fuels) | | | 60,271 | | | | 354,393 | |
| Vale S.A.ADR (Metals & Mining) | | | 222,924 | | | | 2,614,898 | |
TOTAL COMMON STOCKS
(Cost $13,739,034) | | | | | | | 20,188,707 | |
Preferred Stocks (9.1%)
| | | Shares | | | Value | |
| Companhia Brasileira de DistribuicaoADR(Food & Staples Retailing) | | | 12,481 | | | $ | 248,122 | |
| Petroleo Brasileiro S.A.ADR (Oil, Gas & Consumable Fuels) | | | 157,548 | | | | 2,087,511 | |
TOTAL PREFERRED STOCKS
(Cost $941,016) | | | | | | | 2,335,633 | |
Repurchase Agreements(b)(c) (12.5%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $3,212,390 | | $ | 3,212,000 | | | $ | 3,212,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $3,212,000) | | | | | | | 3,212,000 | |
Collateral for Securities Loaned (1.5%)
| | | Shares | | | Value | |
| BlackRock Liquidity Funds FedFund Portfolio—Institutional Shares, 1.81%(d) | | | 171,040 | | | $ | 171,040 | |
| Invesco Government & Agency Portfolio— Institutional Shares, 1.77%(d) | | | 52,408 | | | | 52,408 | |
| Fidelity Investments Money Market Government Portfolio—Class I, 1.80%(d) | | | 162,727 | | | | 162,727 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $386,175) | | | | | | | 386,175 | |
TOTAL INVESTMENT SECURITIES
(Cost $18,278,225)—102.0% | | | | | | | 26,122,515 | |
| Net other assets (liabilities)—(2.0)% | | | | | | | (517,947 | ) |
| NET ASSETS—100.0% | | | | | | $ | 25,604,568 | |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2020. The total value of securities on loan as of January 31, 2020 was $361,460. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (c) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $909,000. |
| (d) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2020. |
| ADR | American Depositary Receipt |
See accompanying notes to the financial statements.
152 :: UltraLatin America ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| S&P/BNY Mellon Latin America 35 ADR Index (USD) | | Goldman Sachs International | | 2/27/20 | | | | 2.04 | % | | $ | 14,333,497 | | | $ | (331,659 | ) |
| S&P/BNY Mellon Latin America 35 ADR Index (USD) | | UBS AG | | 2/27/20 | | | | 2.09 | % | | | 14,342,071 | | | | (359,725 | ) |
| | | | | | | | | | | | $ | 28,675,568 | | | $ | (691,384 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
UltraLatin America ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 233,739 | | | | 0.9 | % |
| Airlines | | | 431,679 | | | | 1.7 | % |
| Banks | | | 6,120,492 | | | | 23.8 | % |
| Beverages | | | 2,281,021 | | | | 8.9 | % |
| Chemicals | | | 248,348 | | | | 1.0 | % |
| Construction Materials | | | 487,838 | | | | 1.9 | % |
| Diversified Telecommunication Services | | | 458,567 | | | | 1.8 | % |
| Electric Utilities | | | 1,076,723 | | | | 4.2 | % |
| Food & Staples Retailing | | | 248,122 | | | | 1.0 | % |
| Food Products | | | 409,856 | | | | 1.6 | % |
| Media | | | 449,048 | | | | 1.8 | % |
| Metals & Mining | | | 3,241,014 | | | | 12.7 | % |
| Oil, Gas & Consumable Fuels | | | 3,765,009 | | | | 14.7 | % |
| Paper & Forest Products | | | 390,034 | | | | 1.5 | % |
| Transportation Infrastructure | | | 890,843 | | | | 3.5 | % |
| Water Utilities | | | 386,030 | | | | 1.5 | % |
| Wireless Telecommunication Services | | | 1,405,977 | | | | 5.5 | % |
| Other** | | | 3,080,228 | | | | 12.0 | % |
| Total | | $ | 25,604,568 | | | | 100.0 | % |
UltraLatin America ProFund invested in securities with exposure to the following countries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Brazil | | $ | 15,612,747 | | | | 61.0 | % |
| Chile | | | 1,572,679 | | | | 6.1 | % |
| Colombia | | | 837,183 | | | | 3.3 | % |
| Mexico | | | 4,269,237 | | | | 16.7 | % |
| Peru | | | 232,494 | | | | 0.9 | % |
| Other** | | | 3,080,228 | | | | 12.0 | % |
| Total | | $ | 25,604,568 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: UltraMid-Cap ProFund :: 153
Common Stocks (69.9%)
| | | Shares | | | Value | |
| Aaron's, Inc. (Specialty Retail) | | | 1,737 | | | $ | 103,108 | |
| Acadia Healthcare Co., Inc.* (Health Care Providers & Services) | | | 2,292 | | | | 73,642 | |
| ACI Worldwide, Inc.* (Software) | | | 2,991 | | | | 103,040 | |
| Acuity Brands, Inc. (Electrical Equipment) | | | 1,025 | | | | 120,817 | |
| Adient PLC* (Auto Components) | | | 2,252 | | | | 57,899 | |
| Adtalem Global Education, Inc.* (Diversified Consumer Services) | | | 1,397 | | | | 48,210 | |
| AECOM* (Construction & Engineering) | | | 4,064 | | | | 196,007 | |
| Affiliated Managers Group, Inc. (Capital Markets) | | | 1,275 | | | | 101,809 | |
| AGCO Corp. (Machinery) | | | 1,621 | | | | 113,697 | |
| Alexander & Baldwin, Inc. (Equity Real Estate Investment Trusts) | | | 1,757 | | | | 38,408 | |
| Alleghany Corp.* (Insurance) | | | 372 | | | | 296,731 | |
| Allegheny Technologies, Inc.* (Metals & Mining) | | | 3,261 | | | | 56,252 | |
| ALLETE, Inc. (Electric Utilities) | | | 1,337 | | | | 111,613 | |
| Allscripts Healthcare Solutions, Inc.* (Health Care Technology) | | | 4,199 | | | | 36,027 | |
| AMC Networks, Inc.*—Class A (Media) | | | 1,140 | | | | 41,713 | |
| Amedisys, Inc.* (Health Care Providers & Services) | | | 835 | | | | 147,369 | |
| American Campus Communities, Inc. (Equity Real Estate Investment Trusts) | | | 3,555 | | | | 163,068 | |
| American Eagle Outfitters, Inc. (Specialty Retail) | | | 4,108 | | | | 59,155 | |
| American Financial Group, Inc. (Insurance) | | | 1,937 | | | | 210,726 | |
| Antero Midstream Corp.(a) (Oil, Gas & Consumable Fuels) | | | 7,683 | | | | 38,722 | |
| Apergy Corp.* (Energy Equipment & Services) | | | 2,003 | | | | 51,798 | |
| AptarGroup, Inc. (Containers & Packaging) | | | 1,654 | | | | 191,053 | |
| Aqua America, Inc. (Water Utilities) | | | 5,584 | | | | 290,033 | |
| Arrow Electronics, Inc.* (Electronic Equipment, Instruments & Components) | | | 2,107 | | | | 160,006 | |
| Arrowhead Pharmaceuticals, Inc.* (Biotechnology) | | | 2,590 | | | | 108,547 | |
| ASGN, Inc.* (Professional Services) | | | 1,366 | | | | 92,465 | |
| Ashland Global Holdings, Inc. (Chemicals) | | | 1,558 | | | | 115,261 | |
| Associated Banc-Corp. (Banks) | | | 4,122 | | | | 82,151 | |
| AutoNation, Inc.* (Specialty Retail) | | | 1,523 | | | | 64,636 | |
| Avanos Medical, Inc.* (Health Care Equipment & Supplies) | | | 1,240 | | | | 34,150 | |
| Avis Budget Group, Inc.* (Road & Rail) | | | 1,470 | | | | 48,216 | |
| Avnet, Inc. (Electronic Equipment, Instruments & Components) | | | 2,612 | | | | 95,312 | |
| Axon Enterprise, Inc.* (Aerospace & Defense) | | | 1,535 | | | | 117,903 | |
| BancorpSouth Bank (Banks) | | | 2,482 | | | | 70,911 | |
| Bank of Hawaii Corp. (Banks) | | | 1,042 | | | | 93,363 | |
| Bank OZK (Banks) | | | 3,127 | | | | 84,992 | |
| Bed Bath & Beyond, Inc.(a) (Specialty Retail) | | | 3,273 | | | | 46,640 | |
| Belden, Inc. (Electronic Equipment, Instruments & Components) | | | 1,000 | | | | 49,270 | |
| Bio-Rad Laboratories, Inc.*—Class A (Life Sciences Tools & Services) | | | 559 | | | | 201,754 | |
| Bio-Techne Corp. (Life Sciences Tools & Services) | | | 986 | | | | 207,031 | |
| BJ's Wholesale Club Holdings, Inc.* (Food & Staples Retailing) | | | 3,160 | | | | 64,843 | |
| Black Hills Corp. (Multi-Utilities) | | | 1,590 | | | | 132,018 | |
| Blackbaud, Inc. (Software) | | | 1,272 | | | | 99,636 | |
| Boyd Gaming Corp. (Hotels, Restaurants & Leisure) | | | 2,070 | | | | 61,790 | |
| Brighthouse Financial, Inc.* (Insurance) | | | 2,827 | | | | 109,970 | |
| Brinker International, Inc. (Hotels, Restaurants & Leisure) | | | 967 | | | | 41,281 | |
| Brixmor Property Group, Inc. (Equity Real Estate Investment Trusts) | | | 7,705 | | | | 153,792 | |
| Brown & Brown, Inc. (Insurance) | | | 6,049 | | | | 271,600 | |
| Brunswick Corp. (Leisure Products) | | | 2,110 | | | | 132,614 | |
| Cable One, Inc.(a) (Media) | | | 130 | | | | 221,524 | |
| Cabot Corp. (Chemicals) | | | 1,474 | | | | 58,739 | |
| Cabot Microelectronics Corp. (Semiconductors & Semiconductor Equipment) | | | 753 | | | | 109,569 | |
| CACI International, Inc.*—Class A (IT Services) | | | 648 | | | | 173,301 | |
| Caesars Entertainment Corp.* (Hotels, Restaurants & Leisure) | | | 14,438 | | | | 197,367 | |
| Camden Property Trust (Equity Real Estate Investment Trusts) | | | 2,505 | | | | 281,637 | |
| Cantel Medical Corp. (Health Care Equipment & Supplies) | | | 969 | | | | 63,043 | |
| Carlisle Cos., Inc. (Industrial Conglomerates) | | | 1,466 | | | | 229,033 | |
| Carpenter Technology Corp. (Metals & Mining) | | | 1,234 | | | | 49,039 | |
| Carter's, Inc. (Textiles, Apparel & Luxury Goods) | | | 1,142 | | | | 121,132 | |
| Casey's General Stores, Inc. (Food & Staples Retailing) | | | 952 | | | | 153,139 | |
| Catalent, Inc.* (Pharmaceuticals) | | | 3,785 | | | | 231,264 | |
| Cathay General Bancorp (Banks) | | | 1,959 | | | | 70,642 | |
| CDK Global, Inc. (Software) | | | 3,140 | | | | 168,555 | |
| Ceridian HCM Holding, Inc.* (Software) | | | 2,607 | | | | 191,067 | |
| Charles River Laboratories International, Inc.* (Life Sciences Tools & Services) | | | 1,264 | | | | 195,389 | |
| Chemed Corp. (Health Care Providers & Services) | | | 414 | | | | 193,355 | |
| Chesapeake Energy Corp.* (Oil, Gas & Consumable Fuels) | | | 30,329 | | | | 15,522 | |
| Choice Hotels International, Inc. (Hotels, Restaurants & Leisure) | | | 822 | | | | 82,364 | |
| Churchill Downs, Inc. (Hotels, Restaurants & Leisure) | | | 917 | | | | 132,396 | |
| Ciena Corp.* (Communications Equipment) | | | 4,002 | | | | 162,760 | |
| Cinemark Holdings, Inc. (Entertainment) | | | 2,758 | | | | 86,904 | |
| Cirrus Logic, Inc.* (Semiconductors & Semiconductor Equipment) | | | 1,495 | | | | 114,831 | |
| CIT Group, Inc. (Banks) | | | 2,454 | | | | 112,172 | |
| Clean Harbors, Inc.* (Commercial Services & Supplies) | | | 1,328 | | | | 109,188 | |
| CNO Financial Group, Inc. (Insurance) | | | 3,909 | | | | 68,759 | |
| CNX Resources Corp.* (Oil, Gas & Consumable Fuels) | | | 4,826 | | | | 34,892 | |
| Cognex Corp. (Electronic Equipment, Instruments & Components) | | | 4,422 | | | | 225,389 | |
| Coherent, Inc.* (Electronic Equipment, Instruments & Components) | | | 625 | | | | 88,394 | |
| Colfax Corp.* (Machinery) | | | 2,163 | | | | 76,051 | |
| Columbia Sportswear Co. (Textiles, Apparel & Luxury Goods) | | | 751 | | | | 70,534 | |
| Commerce Bancshares, Inc.(a) (Banks) | | | 2,683 | | | | 181,532 | |
See accompanying notes to the financial statements.
154 :: UltraMid-Cap ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Commercial Metals Co. (Metals & Mining) | | | 3,069 | | | $ | 63,068 | |
| CommVault Systems, Inc.* (Software) | | | 1,088 | | | | 48,982 | |
| Compass Minerals International, Inc. (Metals & Mining) | | | 877 | | | | 50,770 | |
| Core Laboratories N.V. (Energy Equipment & Services) | | | 1,148 | | | | 40,329 | |
| Corecivic, Inc. (Equity Real Estate Investment Trusts) | | | 3,080 | | | | 49,126 | |
| CoreLogic, Inc.* (IT Services) | | | 2,057 | | | | 95,651 | |
| CoreSite Realty Corp. (Equity Real Estate Investment Trusts) | | | 975 | | | | 114,514 | |
| Corporate Office Properties Trust (Equity Real Estate Investment Trusts) | | | 2,899 | | | | 86,303 | |
| Cousins Properties, Inc. (Equity Real Estate Investment Trusts) | | | 3,797 | | | | 155,411 | |
| Cracker Barrel Old Country Store, Inc. (Hotels, Restaurants & Leisure) | | | 622 | | | | 95,122 | |
| Crane Co. (Machinery) | | | 1,319 | | | | 112,722 | |
| Cree, Inc.* (Semiconductors & Semiconductor Equipment) | | | 2,786 | | | | 129,521 | |
| Cullen/Frost Bankers, Inc. (Banks) | | | 1,473 | | | | 131,333 | |
| Curtiss-Wright Corp. (Aerospace & Defense) | | | 1,105 | | | | 160,700 | |
| Cypress Semiconductor Corp. (Semiconductors & Semiconductor Equipment) | | | 9,554 | | | | 222,894 | |
| CyrusOne, Inc. (Equity Real Estate Investment Trusts) | | | 2,928 | | | | 178,169 | |
| Dana, Inc. (Auto Components) | | | 3,723 | | | | 57,371 | |
| Deckers Outdoor Corp.* (Textiles, Apparel & Luxury Goods) | | | 724 | | | | 138,219 | |
| Delphi Technologies PLC* (Auto Components) | | | 2,225 | | | | 34,132 | |
| Deluxe Corp. (Commercial Services & Supplies) | | | 1,089 | | | | 52,490 | |
| Dick's Sporting Goods, Inc. (Specialty Retail) | | | 1,645 | | | | 72,758 | |
| Dillard's, Inc.—Class A (Multiline Retail) | | | 255 | | | | 15,484 | |
| Diversified Healthcare Trust (Equity Real Estate Investment Trusts) | | | 6,153 | | | | 47,501 | |
| Domino's Pizza, Inc. (Hotels, Restaurants & Leisure) | | | 1,058 | | | | 298,092 | |
| Domtar Corp. (Paper & Forest Products) | | | 1,482 | | | | 51,603 | |
| Donaldson Co., Inc. (Machinery) | | | 3,274 | | | | 169,757 | |
| Douglas Emmett, Inc. (Equity Real Estate Investment Trusts) | | | 4,264 | | | | 176,956 | |
| Dunkin' Brands Group, Inc. (Hotels, Restaurants & Leisure) | | | 2,143 | | | | 167,347 | |
| Dycom Industries, Inc.* (Construction & Engineering) | | | 816 | | | | 32,983 | |
| Eagle Materials, Inc. (Construction Materials) | | | 1,077 | | | | 98,190 | |
| East West Bancorp, Inc. (Banks) | | | 3,768 | | | | 172,725 | |
| EastGroup Properties, Inc. (Equity Real Estate Investment Trusts) | | | 994 | | | | 135,254 | |
| Eaton Vance Corp. (Capital Markets) | | | 2,927 | | | | 133,910 | |
| Edgewell Personal Care Co.* (Personal Products) | | | 1,402 | | | | 36,200 | |
| Eldorado Resorts, Inc.* (Hotels, Restaurants & Leisure) | | | 1,690 | | | | 101,028 | |
| EMCOR Group, Inc. (Construction & Engineering) | | | 1,453 | | | | 119,393 | |
| Encompass Health Corp. (Health Care Providers & Services) | | | 2,551 | | | | 196,504 | |
| Energizer Holdings, Inc.(a)(Household Products) | | | 1,664 | | | | 76,977 | |
| EnerSys (Electrical Equipment) | | | 1,094 | | | | 78,724 | |
| EPR Properties (Equity Real Estate Investment Trusts) | | | 2,030 | | | | 144,881 | |
| EQT Corp. (Oil, Gas & Consumable Fuels) | | | 6,612 | | | | 40,003 | |
| Equitrans Midstream Corp. (Oil, Gas & Consumable Fuels) | | | 5,272 | | | | 50,980 | |
| Etsy, Inc.* (Internet & Direct Marketing Retail) | | | 3,065 | | | | 149,603 | |
| Evercore Partners, Inc.—Class A (Capital Markets) | | | 1,011 | | | | 77,463 | |
| Exelixis, Inc.* (Biotechnology) | | | 7,860 | | | | 135,192 | |
| F.N.B. Corp. (Banks) | | | 8,405 | | | | 98,086 | |
| FactSet Research Systems, Inc. (Capital Markets) | | | 982 | | | | 280,959 | |
| Fair Isaac Corp.* (Software) | | | 750 | | | | 301,785 | |
| Federated Hermes, Inc.—Class B (Capital Markets) | | | 2,486 | | | | 90,068 | |
| First American Financial Corp. (Insurance) | | | 2,906 | | | | 180,114 | |
| First Financial Bankshares, Inc. (Banks) | | | 3,514 | | | | 117,789 | |
| First Horizon National Corp. (Banks) | | | 8,050 | | | | 128,800 | |
| First Industrial Realty Trust, Inc. (Equity Real Estate Investment Trusts) | | | 3,284 | | | | 140,227 | |
| First Solar, Inc.* (Semiconductors & Semiconductor Equipment) | | | 1,963 | | | | 97,326 | |
| FirstCash, Inc. (Consumer Finance) | | | 1,104 | | | | 96,015 | |
| Five Below, Inc.* (Specialty Retail) | | | 1,441 | | | | 163,151 | |
| Flowers Foods, Inc. (Food Products) | | | 4,979 | | | | 107,198 | |
| Fluor Corp. (Construction & Engineering) | | | 3,626 | | | | 64,869 | |
| Foot Locker, Inc. (Specialty Retail) | | | 2,769 | | | | 105,139 | |
| FTI Consulting, Inc.* (Professional Services) | | | 973 | | | | 116,818 | |
| Fulton Financial Corp. (Banks) | | | 4,245 | | | | 69,915 | |
| GATX Corp. (Trading Companies & Distributors) | | | 908 | | | | 69,126 | |
| Gentex Corp. (Auto Components) | | | 6,545 | | | | 194,844 | |
| Genworth Financial, Inc.*—Class A (Insurance) | | | 13,019 | | | | 53,378 | |
| Globus Medical, Inc.*—Class A (Health Care Equipment & Supplies) | | | 1,991 | | | | 104,089 | |
| Graco, Inc. (Machinery) | | | 4,315 | | | | 229,343 | |
| Graham Holdings Co.—Class B (Diversified Consumer Services) | | | 112 | | | | 61,513 | |
| Grand Canyon Education, Inc.* (Diversified Consumer Services) | | | 1,247 | | | | 97,615 | |
| Green Dot Corp.*—Class A (Consumer Finance) | | | 1,226 | | | | 36,878 | |
| Greif, Inc.—Class A (Containers & Packaging) | | | 679 | | | | 27,445 | |
| GrubHub, Inc.* (Internet & Direct Marketing Retail) | | | 2,366 | | | | 128,119 | |
| Haemonetics Corp.* (Health Care Equipment & Supplies) | | | 1,311 | | | | 140,788 | |
| Hancock Whitney Corp. (Banks) | | | 2,256 | | | | 89,653 | |
| Hawaiian Electric Industries, Inc. (Electric Utilities) | | | 2,819 | | | | 137,877 | |
| Healthcare Realty Trust, Inc. (Equity Real Estate Investment Trusts) | | | 3,460 | | | | 124,768 | |
| Healthcare Services Group, Inc. (Commercial Services & Supplies) | | | 1,917 | | | | 49,075 | |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: UltraMid-Cap ProFund :: 155
Common Stocks, continued
| | | Shares | | | Value | |
| HealthEquity, Inc.* (Health Care Providers & Services) | | | 1,834 | | | $ | 121,154 | |
| Helen of Troy, Ltd.* (Household Durables) | | | 651 | | | | 123,072 | |
| Herman Miller, Inc. (Commercial Services & Supplies) | | | 1,528 | | | | 59,057 | |
| Highwoods Properties, Inc. (Equity Real Estate Investment Trusts) | | | 2,684 | | | | 134,495 | |
| Hill-Rom Holdings, Inc. (Health Care Equipment & Supplies) | | | 1,727 | | | | 183,908 | |
| HNI Corp. (Commercial Services & Supplies) | | | 1,108 | | | | 39,855 | |
| Home BancShares, Inc. (Banks) | | | 4,013 | | | | 76,729 | |
| Hubbell, Inc. (Electrical Equipment) | | | 1,407 | | | | 201,525 | |
| ICU Medical, Inc.* (Health Care Equipment & Supplies) | | | 498 | | | | 90,870 | |
| IDACORP, Inc. (Electric Utilities) | | | 1,304 | | | | 146,296 | |
| II-VI, Inc.* (Electronic Equipment, Instruments & Components) | | | 2,256 | | | | 75,914 | |
| Ingevity Corp.* (Chemicals) | | | 1,082 | | | | 70,568 | |
| Ingredion, Inc. (Food Products) | | | 1,727 | | | | 151,976 | |
| Insperity, Inc. (Professional Services) | | | 972 | | | | 84,924 | |
| Integra LifeSciences Holdings Corp.* (Health Care Equipment & Supplies) | | | 1,843 | | | | 101,439 | |
| Interactive Brokers Group, Inc.—Class A (Capital Markets) | | | 1,985 | | | | 93,295 | |
| InterDigital, Inc. (Communications Equipment) | | | 806 | | | | 44,532 | |
| International Bancshares Corp. (Banks) | | | 1,484 | | | | 58,470 | |
| ITT, Inc. (Machinery) | | | 2,269 | | | | 152,205 | |
| j2 Global, Inc. (Software) | | | 1,198 | | | | 114,840 | |
| Jabil, Inc. (Electronic Equipment, Instruments & Components) | | | 3,594 | | | | 139,771 | |
| Jack in the Box, Inc. (Hotels, Restaurants & Leisure) | | | 612 | | | | 50,031 | |
| Janus Henderson Group PLC (Capital Markets) | | | 4,026 | | | | 101,737 | |
| JBG Smith Properties (Equity Real Estate Investment Trusts) | | | 3,054 | | | | 123,840 | |
| Jefferies Financial Group, Inc. (Diversified Financial Services) | | | 6,516 | | | | 141,006 | |
| JetBlue Airways Corp.* (Airlines) | | | 7,468 | | | | 148,090 | |
| John Wiley & Sons, Inc.—Class A (Media) | | | 1,132 | | | | 49,378 | |
| Jones Lang LaSalle, Inc. (Real Estate Management & Development) | | | 1,333 | | | | 226,370 | |
| KAR Auction Services, Inc. (Commercial Services & Supplies) | | | 3,331 | | | | 70,018 | |
| KB Home (Household Durables) | | | 2,216 | | | | 83,211 | |
| KBR, Inc. (IT Services) | | | 3,666 | | | | 99,715 | |
| Kemper Corp. (Insurance) | | | 1,621 | | | | 120,635 | |
| Kennametal, Inc. (Machinery) | | | 2,144 | | | | 67,086 | |
| Kilroy Realty Corp. (Equity Real Estate Investment Trusts) | | | 2,523 | | | | 208,324 | |
| Kirby Corp.* (Marine) | | | 1,551 | | | | 113,673 | |
| Knight-Swift Transportation Holdings, Inc. (Road & Rail) | | | 3,178 | | | | 117,839 | |
| Lamar Advertising Co.—Class A (Equity Real Estate Investment Trusts) | | | 2,225 | | | | 206,502 | |
| Lancaster Colony Corp.(a) (Food Products) | | | 512 | | | | 79,181 | |
| Landstar System, Inc. (Road & Rail) | | | 1,021 | | | | 113,076 | |
| Lear Corp. (Auto Components) | | | 1,423 | | | | 175,285 | |
| Legg Mason, Inc. (Capital Markets) | | | 2,111 | | | | 82,646 | |
| LendingTree, Inc.* (Thrifts & Mortgage Finance) | | | 198 | | | | 61,618 | |
| Lennox International, Inc. (Building Products) | | | 907 | | | | 211,313 | |
| Liberty Property Trust (Equity Real Estate Investment Trusts) | | | 4,081 | | | | 255,675 | |
| Life Storage, Inc. (Equity Real Estate Investment Trusts) | | | 1,207 | | | | 136,608 | |
| Ligand Pharmaceuticals, Inc.*—Class B (Biotechnology) | | | 454 | | | | 39,866 | |
| Lincoln Electric Holdings, Inc. (Machinery) | | | 1,582 | | | | 141,083 | |
| Littelfuse, Inc. (Electronic Equipment, Instruments & Components) | | | 630 | | | | 111,453 | |
| LivaNova PLC* (Health Care Equipment & Supplies) | | | 1,252 | | | | 85,098 | |
| LiveRamp Holdings, Inc.* (IT Services) | | | 1,751 | | | | 70,460 | |
| LogMeIn, Inc. (Software) | | | 1,263 | | | | 108,580 | |
| Louisiana-Pacific Corp. (Paper & Forest Products) | | | 3,039 | | | | 93,237 | |
| Lumentum Holdings, Inc.* (Communications Equipment) | | | 1,997 | | | | 151,313 | |
| Mack-Cali Realty Corp. (Equity Real Estate Investment Trusts) | | | 2,343 | | | | 51,452 | |
| Manhattan Associates, Inc.* (Software) | | | 1,654 | | | | 141,351 | |
| ManpowerGroup, Inc. (Professional Services) | | | 1,526 | | | | 139,613 | |
| Marriott Vacations Worldwide Corp. (Hotels, Restaurants & Leisure) | | | 968 | | | | 116,392 | |
| Masimo Corp.* (Health Care Equipment & Supplies) | | | 1,269 | | | | 216,492 | |
| MasTec, Inc.* (Construction & Engineering) | | | 1,560 | | | | 90,090 | |
| Matador Resources Co.* (Oil, Gas & Consumable Fuels) | | | 2,836 | | | | 41,604 | |
| Mattel, Inc.*(a) (Leisure Products) | | | 8,968 | | | | 131,202 | |
| MAXIMUS, Inc. (IT Services) | | | 1,655 | | | | 118,746 | |
| MDU Resources Group, Inc. (Multi-Utilities) | | | 5,184 | | | | 153,498 | |
| Medical Properties Trust, Inc. (Equity Real Estate Investment Trusts) | | | 13,386 | | | | 296,499 | |
| MEDNAX, Inc.* (Health Care Providers & Services) | | | 2,181 | | | | 50,316 | |
| Mercury General Corp. (Insurance) | | | 702 | | | | 34,461 | |
| Mercury Systems, Inc.* (Aerospace & Defense) | | | 1,436 | | | | 110,213 | |
| Meredith Corp. (Media) | | | 1,040 | | | | 31,252 | |
| Minerals Technologies, Inc. (Chemicals) | | | 901 | | | | 48,771 | |
| MKS Instruments, Inc. (Semiconductors & Semiconductor Equipment) | | | 1,410 | | | | 147,796 | |
| Molina Healthcare, Inc.* (Health Care Providers & Services) | | | 1,622 | | | | 199,457 | |
| Monolithic Power Systems, Inc. (Semiconductors & Semiconductor Equipment) | | | 1,045 | | | | 178,873 | |
| MSA Safety, Inc. (Commercial Services & Supplies) | | | 922 | | | | 125,023 | |
| MSC Industrial Direct Co., Inc.—Class A (Trading Companies & Distributors) | | | 1,166 | | | | 79,370 | |
| Murphy Oil Corp. (Oil, Gas & Consumable Fuels) | | | 3,864 | | | | 80,989 | |
| Murphy USA, Inc.* (Specialty Retail) | | | 748 | | | | 76,423 | |
| National Fuel Gas Co. (Gas Utilities) | | | 2,233 | | | | 96,443 | |
See accompanying notes to the financial statements.
156 :: UltraMid-Cap ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| National Instruments Corp. (Electronic Equipment, Instruments & Components) | | | 3,051 | | | $ | 136,166 | |
| National Retail Properties, Inc. (Equity Real Estate Investment Trusts) | | | 4,441 | | | | 248,696 | |
| Navient Corp. (Consumer Finance) | | | 5,031 | | | | 72,346 | |
| NCR Corp.* (Technology Hardware, Storage & Peripherals) | | | 3,301 | | | | 111,310 | |
| Nektar Therapeutics* (Pharmaceuticals) | | | 4,551 | | | | 90,519 | |
| NetScout Systems, Inc.* (Communications Equipment) | | | 1,704 | | | | 43,810 | |
| New Jersey Resources Corp. (Gas Utilities) | | | 2,471 | | | | 102,102 | |
| New York Community Bancorp, Inc. (Thrifts & Mortgage Finance) | | | 12,090 | | | | 133,715 | |
| NewMarket Corp. (Chemicals) | | | 191 | | | | 83,967 | |
| Nordson Corp. (Machinery) | | | 1,323 | | | | 223,402 | |
| NorthWestern Corp. (Multi-Utilities) | | | 1,305 | | | | 100,446 | |
| NOW, Inc.* (Trading Companies & Distributors) | | | 2,814 | | | | 28,168 | |
| Nu Skin Enterprises, Inc.—Class A (Personal Products) | | | 1,437 | | | | 46,831 | |
| NuVasive, Inc.* (Health Care Equipment & Supplies) | | | 1,347 | | | | 103,881 | |
| nVent Electric PLC (Electrical Equipment) | | | 4,026 | | | | 100,247 | |
| OGE Energy Corp. (Electric Utilities) | | | 5,179 | | | | 237,457 | |
| O-I Glass, Inc. (Containers & Packaging) | | | 4,025 | | | | 50,796 | |
| Old Republic International Corp. (Insurance) | | | 7,382 | | | | 166,464 | |
| Olin Corp. (Chemicals) | | | 4,130 | | | | 61,413 | |
| Ollie's Bargain Outlet Holdings, Inc.* (Multiline Retail) | | | 1,415 | | | | 75,051 | |
| Omega Healthcare Investors, Inc. (Equity Real Estate Investment Trusts) | | | 5,652 | | | | 237,101 | |
| ONE Gas, Inc. (Gas Utilities) | | | 1,365 | | | | 128,993 | |
| Oshkosh Corp. (Machinery) | | | 1,761 | | | | 151,516 | |
| Owens Corning (Building Products) | | | 2,814 | | | | 170,219 | |
| PacWest Bancorp (Banks) | | | 3,100 | | | | 108,655 | |
| Papa John's International, Inc. (Hotels, Restaurants & Leisure) | | | 570 | | | | 36,925 | |
| Park Hotels & Resorts, Inc. (Equity Real Estate Investment Trusts) | | | 6,193 | | | | 135,874 | |
| Patterson Cos., Inc. (Health Care Providers & Services) | | | 2,228 | | | | 49,038 | |
| Patterson-UTI Energy, Inc. (Energy Equipment & Services) | | | 5,032 | | | | 39,954 | |
| PBF Energy, Inc.—Class A (Oil, Gas & Consumable Fuels) | | | 2,635 | | | | 71,936 | |
| Pebblebrook Hotel Trust (Equity Real Estate Investment Trusts) | | | 3,379 | | | | 80,150 | |
| Penn National Gaming, Inc.* (Hotels, Restaurants & Leisure) | | | 2,819 | | | | 84,091 | |
| Penumbra, Inc.* (Health Care Equipment & Supplies) | | | 831 | | | | 145,807 | |
| Perspecta, Inc. (IT Services) | | | 3,557 | | | | 99,845 | |
| Pilgrim's Pride Corp.* (Food Products) | | | 1,355 | | | | 35,298 | |
| Pinnacle Financial Partners, Inc. (Banks) | | | 1,862 | | | | 109,970 | |
| PNM Resources, Inc. (Electric Utilities) | | | 2,061 | | | | 111,768 | |
| Polaris, Inc. (Leisure Products) | | | 1,488 | | | | 136,657 | |
| PolyOne Corp. (Chemicals) | | | 2,335 | | | | 77,475 | |
| Pool Corp. (Distributors) | | | 1,036 | | | | 227,195 | |
| Post Holdings, Inc.* (Food Products) | | | 1,720 | | | | 179,860 | |
| PotlatchDeltic Corp. (Equity Real Estate Investment Trusts) | | | 1,739 | | | | 74,777 | |
| PRA Health Sciences, Inc.* (Life Sciences Tools & Services) | | | 1,636 | | | | 165,743 | |
| Prestige Consumer Healthcare, Inc.* (Pharmaceuticals) | | | 1,299 | | | | 52,687 | |
| Primerica, Inc. (Insurance) | | | 1,070 | | | | 126,859 | |
| Prosperity Bancshares, Inc. (Banks) | | | 2,442 | | | | 171,428 | |
| PS Business Parks, Inc. (Equity Real Estate Investment Trusts) | | | 518 | | | | 86,796 | |
| PTC, Inc.* (Software) | | | 2,689 | | | | 223,510 | |
| Rayonier, Inc. (Equity Real Estate Investment Trusts) | | | 3,345 | | | | 101,621 | |
| Regal Beloit Corp. (Electrical Equipment) | | | 1,059 | | | | 83,089 | |
| Reinsurance Group of America, Inc. (Insurance) | | | 1,620 | | | | 233,361 | |
| Reliance Steel & Aluminum Co. (Metals & Mining) | | | 1,725 | | | | 198,030 | |
| RenaissanceRe Holdings, Ltd. (Insurance) | | | 1,143 | | | | 216,530 | |
| Repligen Corp.* (Biotechnology) | | | 1,212 | | | | 121,673 | |
| Resideo Technologies, Inc.* (Building Products) | | | 3,176 | | | | 32,332 | |
| RH* (Specialty Retail) | | | 511 | | | | 106,671 | |
| RLI Corp. (Insurance) | | | 1,033 | | | | 96,079 | |
| Royal Gold, Inc. (Metals & Mining) | | | 1,697 | | | | 195,698 | |
| RPM International, Inc. (Chemicals) | | | 3,355 | | | | 239,447 | |
| Ryder System, Inc. (Road & Rail) | | | 1,379 | | | | 65,806 | |
| Sabra Health Care REIT, Inc. (Equity Real Estate Investment Trusts) | | | 5,011 | | | | 107,737 | |
| Sabre Corp. (IT Services) | | | 7,085 | | | | 152,611 | |
| Sally Beauty Holdings, Inc.* (Specialty Retail) | | | 3,008 | | | | 46,173 | |
| Sanderson Farms, Inc. (Food Products) | | | 510 | | | | 70,222 | |
| Science Applications International Corp. (IT Services) | | | 1,270 | | | | 111,468 | |
| Scientific Games Corp.*—Class A (Hotels, Restaurants & Leisure) | | | 1,399 | | | | 34,751 | |
| SEI Investments Co. (Capital Markets) | | | 3,265 | | | | 213,074 | |
| Selective Insurance Group, Inc. (Insurance) | | | 1,537 | | | | 101,826 | |
| Semtech Corp.* (Semiconductors & Semiconductor Equipment) | | | 1,714 | | | | 82,598 | |
| Sensient Technologies Corp. (Chemicals) | | | 1,095 | | | | 65,426 | |
| Service Corp. International (Diversified Consumer Services) | | | 4,729 | | | | 226,756 | |
| Service Properties Trust (Equity Real Estate Investment Trusts) | | | 4,257 | | | | 91,866 | |
| Signature Bank (Banks) | | | 1,397 | | | | 198,221 | |
| Silgan Holdings, Inc. (Containers & Packaging) | | | 2,006 | | | | 61,905 | |
| Silicon Laboratories, Inc.* (Semiconductors & Semiconductor Equipment) | | | 1,122 | | | | 110,304 | |
| Six Flags Entertainment Corp. (Hotels, Restaurants & Leisure) | | | 2,033 | | | | 77,518 | |
| Skechers U.S.A., Inc.*—Class A (Textiles, Apparel & Luxury Goods) | | | 3,465 | | | | 129,556 | |
| SLM Corp. (Consumer Finance) | | | 10,921 | | | | 119,257 | |
| SolarEdge Technologies, Inc.* (Semiconductors & Semiconductor Equipment) | | | 1,257 | | | | 123,010 | |
| Sonoco Products Co. (Containers & Packaging) | | | 2,590 | | | | 147,993 | |
| Southwest Gas Holdings, Inc. (Gas Utilities) | | | 1,413 | | | | 106,696 | |
| Spire, Inc. (Gas Utilities) | | | 1,319 | | | | 111,218 | |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: UltraMid-Cap ProFund :: 157
Common Stocks, continued
| | | Shares | | | Value | |
| Spirit Realty Capital, Inc. (Equity Real Estate Investment Trusts) | | | 2,580 | | | $ | 136,172 | |
| Sprouts Farmers Market, Inc.* (Food & Staples Retailing) | | | 3,056 | | | | 47,765 | |
| Steel Dynamics, Inc. (Metals & Mining) | | | 5,574 | | | | 166,551 | |
| Stericycle, Inc.* (Commercial Services & Supplies) | | | 2,358 | | | | 147,799 | |
| Sterling Bancorp (Banks) | | | 5,227 | | | | 104,540 | |
| Stifel Financial Corp. (Capital Markets) | | | 1,769 | | | | 114,437 | |
| Synaptics, Inc.* (Semiconductors & Semiconductor Equipment) | | | 866 | | | | 57,754 | |
| Syneos Health, Inc.* (Life Sciences Tools & Services) | | | 1,611 | | | | 98,851 | |
| SYNNEX Corp. (Electronic Equipment, Instruments & Components) | | | 1,058 | | | | 145,750 | |
| Synovus Financial Corp. (Banks) | | | 3,791 | | | | 132,761 | |
| Taubman Centers, Inc. (Equity Real Estate Investment Trusts) | | | 1,584 | | | | 41,849 | |
| TCF Financial Corp. (Banks) | | | 3,969 | | | | 167,809 | |
| Tech Data Corp.* (Electronic Equipment, Instruments & Components) | | | 916 | | | | 131,849 | |
| TEGNA, Inc. (Media) | | | 5,610 | | | | 94,809 | |
| Teledyne Technologies, Inc.* (Aerospace & Defense) | | | 944 | | | | 344,617 | |
| Telephone & Data Systems, Inc. (Wireless Telecommunication Services) | | | 2,530 | | | | 57,380 | |
| Tempur Sealy International, Inc.* (Household Durables) | | | 1,176 | | | | 107,745 | |
| Tenet Healthcare Corp.* (Health Care Providers & Services) | | | 2,688 | | | | 85,048 | |
| Teradata Corp.* (IT Services) | | | 2,911 | | | | 70,854 | |
| Teradyne, Inc. (Semiconductors & Semiconductor Equipment) | | | 4,336 | | | | 286,132 | |
| Terex Corp. (Machinery) | | | 1,697 | | | | 43,019 | |
| Tetra Tech, Inc. (Commercial Services & Supplies) | | | 1,412 | | | | 120,867 | |
| Texas Capital Bancshares, Inc.* (Banks) | | | 1,302 | | | | 71,558 | |
| Texas Roadhouse, Inc.—Class A (Hotels, Restaurants & Leisure) | | | 1,688 | | | | 105,500 | |
| The Boston Beer Co, Inc.*—Class A (Beverages) | | | 239 | | | | 85,175 | |
| The Brink's Co. (Commercial Services & Supplies) | | | 1,294 | | | | 108,942 | |
| The Cheesecake Factory, Inc. (Hotels, Restaurants & Leisure) | | | 1,062 | | | | 40,781 | |
| The Chemours Co. (Chemicals) | | | 4,229 | | | | 58,656 | |
| The GEO Group, Inc. (Equity Real Estate Investment Trusts) | | | 3,137 | | | | 49,565 | |
| The Goodyear Tire & Rubber Co. (Auto Components) | | | 6,016 | | | | 78,990 | |
| The Hain Celestial Group, Inc.* (Food Products) | | | 2,078 | | | | 50,308 | |
| The Hanover Insurance Group, Inc. (Insurance) | | | 1,019 | | | | 141,213 | |
| The Macerich Co. (Equity Real Estate Investment Trusts) | | | 2,850 | | | | 63,584 | |
| The New York Times Co.—Class A (Media) | | | 3,719 | | | | 119,045 | |
| The Scotts Miracle-Gro Co.(a)—Class A (Chemicals) | | | 1,025 | | | | 125,809 | |
| The Timken Co. (Machinery) | | | 1,753 | | | | 92,085 | |
| The Toro Co. (Machinery) | | | 2,758 | | | | 220,695 | |
| The Wendy's Co. (Hotels, Restaurants & Leisure) | | | 4,760 | | | | 103,149 | |
| Thor Industries, Inc. (Automobiles) | | | 1,428 | | | | 114,983 | |
| Toll Brothers, Inc. (Household Durables) | | | 3,343 | | | | 148,295 | |
| Tootsie Roll Industries, Inc.(a) (Food Products) | | | 434 | | | | 14,804 | |
| Transocean, Ltd.* (Energy Equipment & Services) | | | 14,878 | | | | 67,844 | |
| TreeHouse Foods, Inc.* (Food Products) | | | 1,455 | | | | 64,893 | |
| Trex Co., Inc.* (Building Products) | | | 1,509 | | | | 148,244 | |
| TRI Pointe Group, Inc.* (Household Durables) | | | 3,601 | | | | 58,552 | |
| Trimble, Inc.* (Electronic Equipment, Instruments & Components) | | | 6,445 | | | | 274,042 | |
| Trinity Industries, Inc. (Machinery) | | | 2,539 | | | | 51,618 | |
| TripAdvisor, Inc. (Interactive Media & Services) | | | 2,718 | | | | 74,256 | |
| Trustmark Corp. (Banks) | | | 1,663 | | | | 53,183 | |
| Tyler Technologies, Inc.* (Software) | | | 1,009 | | | | 326,593 | |
| UGI Corp. (Gas Utilities) | | | 5,407 | | | | 224,876 | |
| UMB Financial Corp. (Banks) | | | 1,118 | | | | 74,302 | |
| Umpqua Holdings Corp. (Banks) | | | 5,696 | | | | 96,262 | |
| United Bankshares, Inc. (Banks) | | | 2,627 | | | | 90,106 | |
| United States Steel Corp.(a) (Metals & Mining) | | | 4,398 | | | | 39,890 | |
| United Therapeutics Corp.* (Biotechnology) | | | 1,135 | | | | 110,855 | |
| Universal Display Corp. (Semiconductors & Semiconductor Equipment) | | | 1,097 | | | | 193,258 | |
| Urban Edge Properties (Equity Real Estate Investment Trusts) | | | 2,979 | | | | 54,784 | |
| Urban Outfitters, Inc.* (Specialty Retail) | | | 1,825 | | | | 46,720 | |
| Valley National Bancorp (Banks) | | | 10,132 | | | | 106,690 | |
| Valmont Industries, Inc. (Construction & Engineering) | | | 557 | | | | 79,127 | |
| Valvoline, Inc. (Chemicals) | | | 4,874 | | | | 102,744 | |
| ViaSat, Inc.* (Communications Equipment) | | | 1,492 | | | | 94,966 | |
| Vishay Intertechnology, Inc. (Electronic Equipment, Instruments & Components) | | | 3,424 | | | | 69,473 | |
| Visteon Corp.* (Auto Components) | | | 723 | | | | 57,703 | |
| Washington Federal, Inc. (Thrifts & Mortgage Finance) | | | 2,027 | | | | 68,918 | |
| Watsco, Inc. (Trading Companies & Distributors) | | | 845 | | | | 146,962 | |
| Webster Financial Corp. (Banks) | | | 2,381 | | | | 106,812 | |
| Weingarten Realty Investors (Equity Real Estate Investment Trusts) | | | 3,129 | | | | 91,054 | |
| Werner Enterprises, Inc. (Road & Rail) | | | 1,146 | | | | 42,242 | |
| West Pharmaceutical Services, Inc. (Health Care Equipment & Supplies) | | | 1,914 | | | | 298,489 | |
| WEX, Inc.* (IT Services) | | | 1,120 | | | | 242,950 | |
| Williams-Sonoma, Inc. (Specialty Retail) | | | 2,008 | | | | 140,721 | |
| Wintrust Financial Corp. (Banks) | | | 1,477 | | | | 93,465 | |
| Woodward, Inc. (Machinery) | | | 1,459 | | | | 169,696 | |
| World Fuel Services Corp. (Oil, Gas & Consumable Fuels) | | | 1,692 | | | | 66,191 | |
| World Wrestling Entertainment, Inc.— Class A (Entertainment) | | | 1,228 | | | | 60,025 | |
| Worthington Industries, Inc. (Metals & Mining) | | | 955 | | | | 35,125 | |
| WPX Energy, Inc.* (Oil, Gas & Consumable Fuels) | | | 10,781 | | | | 128,833 | |
| WW International, Inc.* (Diversified Consumer Services) | | | 1,202 | | | | 39,642 | |
See accompanying notes to the financial statements.
158 :: UltraMid-Cap ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Wyndham Destinations, Inc. (Hotels, Restaurants & Leisure) | | | 2,347 | | | $ | 113,900 | |
| Wyndham Hotels & Resorts, Inc. (Hotels, Restaurants & Leisure) | | | 2,462 | | | | 140,753 | |
| XPO Logistics, Inc.* (Air Freight & Logistics) | | | 2,388 | | | | 212,341 | |
| Yelp, Inc.* (Interactive Media & Services) | | | 1,653 | | | | 53,888 | |
TOTAL COMMON STOCKS
(Cost $29,441,515) | | | | | | | 46,052,725 | |
Repurchase Agreements(b)(c) (30.0%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $19,823,406 | | $ | 19,821,000 | | | $ | 19,821,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $19,821,000) | | | | | | | 19,821,000 | |
Collateral for Securities Loaned (0.7%)
| | | Shares | | | Value | |
| BlackRock Liquidity Funds FedFund Portfolio—Institutional Shares, 1.81%(d) | | | 216,547 | | | $ | 216,547 | |
| Invesco Government & Agency Portfolio—Institutional Shares, 1.77%(d) | | | 66,352 | | | | 66,352 | |
| Fidelity Investments Money Market Government Portfolio—Class I, 1.80%(d) | | | 206,022 | | | | 206,022 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $488,921) | | | | | | | 488,921 | |
TOTAL INVESTMENT SECURITIES
(Cost $49,751,436)—100.6% | | | | | | | 66,362,646 | |
| Net other assets (liabilities)—(0.6)% | | | | | | | (378,568 | ) |
| NET ASSETS—100.0% | | | | | | $ | 65,984,078 | |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2020. The total value of securities on loan as of January 31, 2020 was $468,520. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (c) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $10,756,000. |
| (d) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2020. |
Futures Contracts Purchased
| | | Number
of
Contracts | | | Expiration
Date | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini S&P MidCap 400 Futures Contracts | | 75 | | | 3/23/20 | | | $ | 15,045,000 | | | $ | (324,287 | ) |
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| S&P MidCap 400 | | Goldman Sachs International | | 2/27/20 | | 2.04 | % | | $ | 10,715,811 | | | $ | (130,603 | ) |
| SPDR S&P MidCap 400 ETF | | Goldman Sachs International | | 2/27/20 | | 1.79 | % | | | 10,457,985 | | | | (133,789 | ) |
| | | | | | | | | | $ | 21,173,796 | | | $ | (264,392 | ) |
| S&P MidCap 400 | | UBS AG | | 2/27/20 | | 1.94 | % | | $ | 37,177,050 | | | $ | (441,577 | ) |
| SPDR S&P MidCap 400 ETF | | UBS AG | | 2/27/20 | | 1.89 | % | | | 12,531,928 | | | | (182,663 | ) |
| | | | | | | | | | $ | 49,708,978 | | | $ | (624,240 | ) |
| | | | | | | | | | $ | 70,882,774 | | | $ | (888,632 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: UltraMid-Cap ProFund :: 159
UltraMid-Cap ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 733,433 | | | | 1.1 | % |
| Air Freight & Logistics | | | 212,341 | | | | 0.3 | % |
| Airlines | | | 148,090 | | | | 0.2 | % |
| Auto Components | | | 656,224 | | | | 1.0 | % |
| Automobiles | | | 114,983 | | | | 0.2 | % |
| Banks | | | 3,325,024 | | | | 5.0 | % |
| Beverages | | | 85,175 | | | | 0.1 | % |
| Biotechnology | | | 516,133 | | | | 0.8 | % |
| Building Products | | | 562,108 | | | | 0.9 | % |
| Capital Markets | | | 1,289,398 | | | | 2.0 | % |
| Chemicals | | | 1,108,276 | | | | 1.7 | % |
| Commercial Services & Supplies | | | 882,314 | | | | 1.3 | % |
| Communications Equipment | | | 497,381 | | | | 0.8 | % |
| Construction & Engineering | | | 582,469 | | | | 0.9 | % |
| Construction Materials | | | 98,190 | | | | 0.1 | % |
| Consumer Finance | | | 324,496 | | | | 0.5 | % |
| Containers & Packaging | | | 479,192 | | | | 0.7 | % |
| Distributors | | | 227,195 | | | | 0.3 | % |
| Diversified Consumer Services | | | 473,736 | | | | 0.7 | % |
| Diversified Financial Services | | | 141,006 | | | | 0.2 | % |
| Electric Utilities | | | 745,011 | | | | 1.1 | % |
| Electrical Equipment | | | 584,402 | | | | 0.9 | % |
| Electronic Equipment, Instruments & Components | | | 1,702,789 | | | | 2.6 | % |
| Energy Equipment & Services | | | 199,925 | | | | 0.3 | % |
| Entertainment | | | 146,929 | | | | 0.2 | % |
| Equity Real Estate Investment Trusts | | | 5,005,035 | | | | 7.6 | % |
| Food & Staples Retailing | | | 265,747 | | | | 0.4 | % |
| Food Products | | | 753,740 | | | | 1.1 | % |
| Gas Utilities | | | 770,328 | | | | 1.2 | % |
| Health Care Equipment & Supplies | | | 1,568,054 | | | | 2.4 | % |
| Health Care Providers & Services | | | 1,115,883 | | | | 1.7 | % |
| Health Care Technology | | | 36,027 | | | | 0.1 | % |
| Hotels, Restaurants & Leisure | | | 2,080,579 | | | | 3.2 | % |
| Household Durables | | | 520,875 | | | | 0.8 | % |
| Household Products | | | 76,977 | | | | 0.1 | % |
| Industrial Conglomerates | | | 229,033 | | | | 0.3 | % |
| Insurance | | | 2,428,706 | | | | 3.7 | % |
| Interactive Media & Services | | | 128,144 | | | | 0.2 | % |
| Internet & Direct Marketing Retail | | | 277,722 | | | | 0.4 | % |
| IT Services | | | 1,235,601 | | | | 1.9 | % |
| Leisure Products | | | 400,473 | | | | 0.6 | % |
| Life Sciences Tools & Services | | | 868,768 | | | | 1.3 | % |
| Machinery | | | 2,013,974 | | | | 3.1 | % |
| Marine | | | 113,673 | | | | 0.2 | % |
| Media | | | 557,721 | | | | 0.8 | % |
| Metals & Mining | | | 854,423 | | | | 1.3 | % |
| Multiline Retail | | | 90,535 | | | | 0.1 | % |
| Multi-Utilities | | | 385,962 | | | | 0.6 | % |
| Oil, Gas & Consumable Fuels | | | 569,673 | | | | 0.9 | % |
| Paper & Forest Products | | | 144,840 | | | | 0.2 | % |
| Personal Products | | | 83,031 | | | | 0.1 | % |
| Pharmaceuticals | | | 374,470 | | | | 0.6 | % |
| Professional Services | | | 433,820 | | | | 0.7 | % |
| Real Estate Management & Development | | | 226,370 | | | | 0.3 | % |
| Road & Rail | | | 387,179 | | | | 0.6 | % |
| Semiconductors & Semiconductor Equipment | | | 1,853,867 | | | | 2.8 | % |
| Software | | | 1,827,939 | | | | 2.8 | % |
| Specialty Retail | | | 1,031,295 | | | | 1.6 | % |
| Technology Hardware, Storage & Peripherals | | | 111,310 | | | | 0.2 | % |
| Textiles, Apparel & Luxury Goods | | | 459,441 | | | | 0.7 | % |
| Thrifts & Mortgage Finance | | | 264,251 | | | | 0.4 | % |
| Trading Companies & Distributors | | | 323,626 | | | | 0.5 | % |
| Water Utilities | | | 290,033 | | | | 0.4 | % |
| Wireless Telecommunication Services | | | 57,380 | | | | 0.1 | % |
| Other** | | | 19,931,353 | | | | 30.1 | % |
| Total | | $ | 65,984,078 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
See accompanying notes to the financial statements.
160 :: UltraNasdaq-100 ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks (61.6%)
| | | Shares | | | Value | |
| Activision Blizzard, Inc. (Entertainment) | | | 32,318 | | | $ | 1,889,957 | |
| Adobe, Inc.* (Software) | | | 20,364 | | | | 7,150,616 | |
| Advanced Micro Devices, Inc.* (Semiconductors & Semiconductor Equipment) | | | 46,847 | | | | 2,201,809 | |
| Alexion Pharmaceuticals, Inc.* (Biotechnology) | | | 9,309 | | | | 925,222 | |
| Align Technology, Inc.* (Health Care Equipment & Supplies) | | | 3,315 | | | | 852,287 | |
| Alphabet, Inc.*—Class A (Interactive Media & Services) | | | 11,337 | | | | 16,243,427 | |
| Alphabet, Inc.*—Class C (Interactive Media & Services) | | | 11,330 | | | | 16,249,826 | |
| Amazon.com, Inc.* (Internet & Direct Marketing Retail) | | | 16,350 | | | | 32,842,572 | |
| American Airlines Group, Inc. (Airlines) | | | 18,428 | | | | 494,608 | |
| Amgen, Inc. (Biotechnology) | | | 24,996 | | | | 5,400,385 | |
| Analog Devices, Inc. (Semiconductors & Semiconductor Equipment) | | | 15,493 | | | | 1,700,357 | |
| ANSYS, Inc.* (Software) | | | 3,542 | | | | 971,677 | |
| Apple, Inc. (Technology Hardware, Storage & Peripherals) | | | 146,530 | | | | 45,352,500 | |
| Applied Materials, Inc. (Semiconductors & Semiconductor Equipment) | | | 38,860 | | | | 2,253,491 | |
| ASML Holding N.V.NYS (Semiconductors & Semiconductor Equipment) | | | 3,116 | | | | 874,537 | |
| Autodesk, Inc.* (Software) | | | 9,237 | | | | 1,818,303 | |
| Automatic Data Processing, Inc. (IT Services) | | | 18,202 | | | | 3,119,641 | |
| Baidu, Inc.*ADR (Interactive Media & Services) | | | 11,631 | | | | 1,437,126 | |
| Biogen, Inc.* (Biotechnology) | | | 7,591 | | | | 2,040,840 | |
| BioMarin Pharmaceutical, Inc.* (Biotechnology) | | | 7,556 | | | | 630,926 | |
| Booking Holdings, Inc.* (Internet & Direct Marketing Retail) | | | 1,761 | | | | 3,223,599 | |
| Broadcom, Inc. (Semiconductors & Semiconductor Equipment) | | | 16,687 | | | | 5,092,205 | |
| Cadence Design Systems, Inc.* (Software) | | | 11,804 | | | | 851,186 | |
| CDW Corp. (Electronic Equipment, Instruments & Components) | | | 6,044 | | | | 788,440 | |
| Cerner Corp. (Health Care Technology) | | | 13,213 | | | | 949,090 | |
| Charter Communications, Inc.*—Class A (Media) | | | 9,035 | | | | 4,675,251 | |
| Check Point Software Technologies, Ltd.* (Software) | | | 6,404 | | | | 732,041 | |
| Cintas Corp. (Commercial Services & Supplies) | | | 4,354 | | | | 1,214,635 | |
| Cisco Systems, Inc. (Communications Equipment) | | | 178,459 | | | | 8,203,760 | |
| Citrix Systems, Inc. (Software) | | | 5,478 | | | | 664,043 | |
| Cognizant Technology Solutions Corp. (IT Services) | | | 23,034 | | | | 1,413,827 | |
| Comcast Corp.—Class A (Media) | | | 190,976 | | | | 8,248,253 | |
| Copart, Inc.* (Commercial Services & Supplies) | | | 9,779 | | | | 992,177 | |
| CoStar Group, Inc.* (Professional Services) | | | 1,541 | | | | 1,006,258 | |
| Costco Wholesale Corp. (Food & Staples Retailing) | | | 18,585 | | | | 5,678,089 | |
| CSX Corp. (Road & Rail) | | | 32,911 | | | | 2,512,425 | |
| Dollar Tree, Inc.* (Multiline Retail) | | | 9,956 | | | | 866,869 | |
| eBay, Inc. (Internet & Direct Marketing Retail) | | | 34,223 | | | | 1,148,524 | |
| Electronic Arts, Inc.* (Entertainment) | | | 12,283 | | | | 1,325,581 | |
| Exelon Corp. (Electric Utilities) | | | 40,894 | | | | 1,946,145 | |
| Expedia Group, Inc. (Internet & Direct Marketing Retail) | | | 5,863 | | | | 635,842 | |
| Facebook, Inc.*—Class A (Interactive Media & Services) | | | 79,360 | | | | 16,023,578 | |
| Fastenal Co. (Trading Companies & Distributors) | | | 24,127 | | | | 841,550 | |
| Fiserv, Inc.* (IT Services) | | | 28,601 | | | | 3,392,365 | |
| Fox Corp.—Class A (Media) | | | 14,913 | | | | 552,974 | |
| Fox Corp.—Class B (Media) | | | 11,197 | | | | 406,787 | |
| Gilead Sciences, Inc. (Biotechnology) | | | 53,221 | | | | 3,363,567 | |
| IDEXX Laboratories, Inc.* (Health Care Equipment & Supplies) | | | 3,609 | | | | 978,075 | |
| Illumina, Inc.* (Life Sciences Tools & Services) | | | 6,184 | | | | 1,793,793 | |
| Incyte Corp.* (Biotechnology) | | | 9,061 | | | | 662,087 | |
| Intel Corp. (Semiconductors & Semiconductor Equipment) | | | 182,991 | | | | 11,698,615 | |
| Intuit, Inc. (Software) | | | 10,950 | | | | 3,070,161 | |
| Intuitive Surgical, Inc.* (Health Care Equipment & Supplies) | | | 4,862 | | | | 2,721,650 | |
| JD.com, Inc.*ADR (Internet & Direct Marketing Retail) | | | 38,993 | | | | 1,469,646 | |
| KLA Corp. (Semiconductors & Semiconductor Equipment) | | | 6,638 | | | | 1,100,182 | |
| Lam Research Corp. (Semiconductors & Semiconductor Equipment) | | | 6,103 | | | | 1,819,976 | |
| Liberty Global PLC*—Class A (Media) | | | 7,636 | | | | 156,691 | |
| Liberty Global PLC*—Class C (Media) | | | 18,458 | | | | 359,562 | |
| Lululemon Athletica, Inc.* (Textiles, Apparel & Luxury Goods) | | | 5,180 | | | | 1,240,040 | |
| Marriott International, Inc.—Class A (Hotels, Restaurants & Leisure) | | | 13,753 | | | | 1,926,245 | |
| Maxim Integrated Products, Inc. (Semiconductors & Semiconductor Equipment) | | | 11,384 | | | | 684,406 | |
| Mercadolibre, Inc.* (Internet & Direct Marketing Retail) | | | 2,091 | | | | 1,386,333 | |
| Microchip Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 10,053 | | | | 979,966 | |
| Micron Technology, Inc.* (Semiconductors & Semiconductor Equipment) | | | 46,570 | | | | 2,472,401 | |
| Microsoft Corp. (Software) | | | 251,582 | | | | 42,826,805 | |
| Mondelez International, Inc.—Class A (Food Products) | | | 60,569 | | | | 3,475,449 | |
| Monster Beverage Corp.* (Beverages) | | | 22,619 | | | | 1,506,425 | |
| NetApp, Inc. (Technology Hardware, Storage & Peripherals) | | | 9,601 | | | | 512,693 | |
| NetEase, Inc.ADR (Entertainment) | | | 3,069 | | | | 984,412 | |
| Netflix, Inc.* (Entertainment) | | | 18,436 | | | | 6,362,079 | |
| NVIDIA Corp. (Semiconductors & Semiconductor Equipment) | | | 25,745 | | | | 6,086,890 | |
| NXP Semiconductors N.V. (Semiconductors & Semiconductor Equipment) | | | 11,759 | | �� | | 1,491,747 | |
| O'Reilly Automotive, Inc.* (Specialty Retail) | | | 3,183 | | | | 1,292,616 | |
| PACCAR, Inc. (Machinery) | | | 14,550 | | | | 1,079,756 | |
| Paychex, Inc. (IT Services) | | | 15,058 | | | | 1,291,525 | |
| PayPal Holdings, Inc.* (IT Services) | | | 49,395 | | | | 5,625,596 | |
| PepsiCo, Inc. (Beverages) | | | 58,660 | | | | 8,330,894 | |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: UltraNasdaq-100 ProFund :: 161
Common Stocks, continued
| | | Shares | | | Value | |
| Qualcomm, Inc. (Semiconductors & Semiconductor Equipment) | | | 48,034 | | | $ | 4,097,781 | |
| Regeneron Pharmaceuticals, Inc.* (Biotechnology) | | | 4,541 | | | | 1,534,586 | |
| Ross Stores, Inc. (Specialty Retail) | | | 15,217 | | | | 1,707,196 | |
| Seattle Genetics, Inc.* (Biotechnology) | | | 7,210 | | | | 781,492 | |
| Sirius XM Holdings, Inc. (Media) | | | 186,093 | | | | 1,315,678 | |
| Skyworks Solutions, Inc. (Semiconductors & Semiconductor Equipment) | | | 7,167 | | | | 810,946 | |
| Splunk, Inc.* (Software) | | | 6,367 | | | | 988,540 | |
| Starbucks Corp. (Hotels, Restaurants & Leisure) | | | 49,681 | | | | 4,214,439 | |
| Synopsys, Inc.* (Software) | | | 6,322 | | | | 932,558 | |
| Take-Two Interactive Software, Inc.* (Entertainment) | | | 4,768 | | | | 594,284 | |
| Tesla, Inc.* (Automobiles) | | | 7,582 | | | | 4,932,622 | |
| Texas Instruments, Inc. (Semiconductors & Semiconductor Equipment) | | | 39,323 | | | | 4,744,320 | |
| The Kraft Heinz Co. (Food Products) | | | 51,371 | | | | 1,500,033 | |
| T-Mobile U.S., Inc.* (Wireless Telecommunication Services) | | | 35,991 | | | | 2,850,127 | |
| Trip.com Group, Ltd.*ADR (Internet & Direct Marketing Retail) | | | 22,000 | | | | 706,860 | |
| Ulta Beauty, Inc.* (Specialty Retail) | | | 2,476 | | | | 663,345 | |
| United Airlines Holdings, Inc.* (Airlines) | | | 10,645 | | | | 796,246 | |
| VeriSign, Inc.* (IT Services) | | | 4,939 | | | | 1,028,003 | |
| Verisk Analytics, Inc.—Class A (Professional Services) | | | 6,894 | | | | 1,120,068 | |
| Vertex Pharmaceuticals, Inc.* (Biotechnology) | | | 10,818 | | | | 2,456,227 | |
| Walgreens Boots Alliance, Inc. (Food & Staples Retailing) | | | 37,547 | | | | 1,909,265 | |
| Western Digital Corp. (Technology Hardware, Storage & Peripherals) | | | 12,511 | | | | 819,471 | |
| Willis Towers Watson PLC (Insurance) | | | 5,409 | | | | 1,142,868 | |
| Workday, Inc.*—Class A (Software) | | | 6,899 | | | | 1,273,762 | |
| Xcel Energy, Inc. (Electric Utilities) | | | 22,558 | | | | 1,560,788 | |
| Xilinx, Inc. (Semiconductors & Semiconductor Equipment) | | | 10,578 | | | | 893,629 | |
TOTAL COMMON STOCKS
(Cost $137,219,547) | | | | | | | 381,961,018 | |
Repurchase Agreements(a)(b) (39.2%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $242,691,460 | | $ | 242,662,000 | | | $ | 242,662,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $242,662,000) | | | | | | | 242,662,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $379,881,547)—100.8% | | | | | | | 624,623,018 | |
| Net other assets (liabilities)—(0.8)% | | | | | | | (4,941,300 | ) |
| NET ASSETS—100.0% | | | | | | $ | 619,681,718 | |
| * | Non-income producing security. |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $105,258,000. |
| NYS | New York Shares |
| ADR | American Depositary Receipt |
Futures Contracts Purchased
| | | Number
of
Contracts | | | Expiration
Date | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini Nasdaq-100 Futures Contracts | | 572 | | | 3/23/20 | | | $ | 102,905,660 | | | $ | 5,770,901 | |
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Invesco QQQ Trust, Series 1 ETF | | Goldman Sachs International | | 2/27/20 | | 1.94 | % | | $ | 117,798,715 | | | $ | 752,700 | |
| Nasdaq-100 Index | | Goldman Sachs International | | 2/27/20 | | 2.14 | % | | | 286,560,321 | | | | 529,093 | |
| | | | | | | | | | $ | 404,359,036 | | | $ | 1,281,793 | |
| Invesco QQQ Trust, Series 1 ETF | | UBS AG | | 2/27/20 | | 1.99 | % | | $ | 140,410,863 | | | $ | 590,879 | |
| Nasdaq-100 Index | | UBS AG | | 2/27/20 | | 2.39 | % | | | 210,746,372 | | | | 1,590,265 | |
| | | | | | | | | | $ | 351,157,235 | | | $ | 2,181,144 | |
| | | | | | | | | | $ | 755,516,271 | | | $ | 3,462,937 | |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
162 :: UltraNasdaq-100 ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
UltraNasdaq-100 ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Airlines | | $ | 1,290,854 | | | | 0.2 | % |
| Automobiles | | | 4,932,622 | | | | 0.8 | % |
| Beverages | | | 9,837,319 | | | | 1.6 | % |
| Biotechnology | | | 17,795,332 | | | | 2.9 | % |
| Commercial Services & Supplies | | | 2,206,813 | | | | 0.4 | % |
| Communications Equipment | | | 8,203,760 | | | | 1.3 | % |
| Electric Utilities | | | 3,506,933 | | | | 0.6 | % |
| Electronic Equipment, Instruments & Components | | | 788,440 | | | | 0.1 | % |
| Entertainment | | | 11,156,313 | | | | 1.8 | % |
| Food & Staples Retailing | | | 7,587,354 | | | | 1.2 | % |
| Food Products | | | 4,975,482 | | | | 0.8 | % |
| Health Care Equipment & Supplies | | | 4,552,012 | | | | 0.7 | % |
| Health Care Technology | | | 949,090 | | | | 0.2 | % |
| Hotels, Restaurants & Leisure | | | 6,140,684 | | | | 1.0 | % |
| Insurance | | | 1,142,868 | | | | 0.2 | % |
| Interactive Media & Services | | | 49,953,956 | | | | 8.1 | % |
| Internet & Direct Marketing Retail | | | 41,413,376 | | | | 6.7 | % |
| IT Services | | | 15,870,957 | | | | 2.6 | % |
| Life Sciences Tools & Services | | | 1,793,793 | | | | 0.3 | % |
| Machinery | | | 1,079,756 | | | | 0.2 | % |
| Media | | | 15,715,196 | | | | 2.5 | % |
| Multiline Retail | | | 866,869 | | | | 0.1 | % |
| Professional Services | | | 2,126,326 | | | | 0.3 | % |
| Road & Rail | | | 2,512,426 | | | | 0.4 | % |
| Semiconductors & Semiconductor Equipment | | | 49,003,258 | | | | 7.9 | % |
| Software | | | 61,279,691 | | | | 9.8 | % |
| Specialty Retail | | | 3,663,157 | | | | 0.6 | % |
| Technology Hardware, Storage & Peripherals | | | 46,684,664 | | | | 7.5 | % |
| Textiles, Apparel & Luxury Goods | | | 1,240,040 | | | | 0.2 | % |
| Trading Companies & Distributors | | | 841,550 | | | | 0.1 | % |
| Wireless Telecommunication Services | | | 2,850,127 | | | | 0.5 | % |
| Other** | | | 237,720,700 | | | | 38.4 | % |
| Total | | $ | 619,681,718 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: UltraShort China ProFund :: 163
Repurchase Agreements(a)(b) (83.3%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $7,375,895 | | $ | 7,375,000 | | | $ | 7,375,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $7,375,000) | | | | | | | 7,375,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $7,375,000)—83.3% | | | | | | | 7,375,000 | |
| Net other assets (liabilities)—16.7% | | | | | | | 1,483,105 | |
| NET ASSETS—100.0% | | | | | | $ | 8,858,105 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $455,000. |
Total Return Swap Agreements—Short
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| S&P/BNY Mellon China Select ADR Index (USD) | | Goldman Sachs International | | 2/27/20 | | (0.59 | )% | | $ | (8,490,264 | ) | | $ | 144,015 | |
| S&P/BNY Mellon China Select ADR Index (USD) | | UBS AG | | 2/27/20 | | (0.34 | )% | | | (9,274,344 | ) | | | 141,006 | |
| | | | | | | | | | $ | (17,764,608 | ) | | $ | 285,021 | |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
164 :: UltraShort Dow 30 ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Repurchase Agreements(a)(b) (95.4%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $4,033,490 | | $ | 4,033,000 | | | $ | 4,033,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $4,033,000) | | | | | | | 4,033,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $4,033,000)—95.4% | | | | | | | 4,033,000 | |
| Net other assets (liabilities)—4.6% | | | | | | | 195,401 | |
| NET ASSETS—100.0% | | | | | | $ | 4,228,401 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $1,300,000. |
Futures Contracts Sold
| | | Number
of
Contracts | | | Expiration
Date | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini Dow Jones Futures Contracts | | 7 | | | 3/23/20 | | | $ | (986,405 | ) | | $ | (1,551 | ) |
Total Return Swap Agreements—Short
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Dow Jones Industrial Average | | Goldman Sachs International | | 2/27/20 | | (1.79 | )% | | $ | (2,249,612 | ) | | $ | 16,396 | |
| Dow Jones Industrial Average | | UBS AG | | 2/27/20 | | (1.79 | )% | | | (5,215,488 | ) | | | 45,902 | |
| | | | | | | | | | $ | (7,465,100 | ) | | $ | 62,298 | |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: UltraShort Emerging Markets ProFund :: 165
Repurchase Agreements(a)(b) (84.3%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $2,900,352 | | $ | 2,900,000 | | | $ | 2,900,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $2,900,000) | | | | | | | 2,900,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $2,900,000)—84.3% | | | | | | | 2,900,000 | |
| Net other assets (liabilities)—15.7% | | | | | | | 538,805 | |
| NET ASSETS—100.0% | | | | | | $ | 3,438,805 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $218,000. |
Total Return Swap Agreements—Short
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| S&P/BNY Mellon Emerging 50 ADR Index (USD) | | Goldman Sachs International | | 2/27/20 | | (1.09 | )% | | $ | (1,717,582 | ) | | $ | 32,818 | |
| S&P/BNY Mellon Emerging 50 ADR Index (USD) | | UBS AG | | 2/27/20 | | (1.09 | )% | | | (5,181,718 | ) | | | 87,105 | |
| | | | | | | | | | $ | (6,899,300 | ) | | $ | 119,923 | |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
166 :: UltraShort International ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Repurchase Agreements(a)(b) (93.9%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $2,681,325 | | $ | 2,681,000 | | | $ | 2,681,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $2,681,000) | | | | | | | 2,681,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $2,681,000)—93.9% | | | | | | | 2,681,000 | |
| Net other assets (liabilities)—6.1% | | | | | | | 175,195 | |
| NET ASSETS—100.0% | | | | | | $ | 2,856,195 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $202,000. |
Total Return Swap Agreements—Short
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| MSCI EAFE Index | | Goldman Sachs International | | 2/27/20 | | (1.19 | )% | | $ | (1,680,996 | ) | | $ | 12,931 | |
| MSCI EAFE Index | | UBS AG | | 2/27/20 | | (1.29 | )% | | | (4,058,385 | ) | | | 28,378 | |
| | | | | | | | | | $ | (5,739,381 | ) | | $ | 41,309 | |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: UltraShort Japan ProFund :: 167
Repurchase Agreements(a) (78.0%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $929,113 | | $ | 929,000 | | | $ | 929,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $929,000) | | | | | | | 929,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $929,000)—78.0% | | | | | | | 929,000 | |
| Net other assets (liabilities)—22.0% | | | | | | | 261,670 | |
| NET ASSETS—100.0% | | | | | | $ | 1,190,670 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
Futures Contracts Sold
| | | Number
of
Contracts | | Expiration
Date | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Nikkei 225 Futures Contracts | | 20 | | 3/13/20 | | $ | (2,269,500 | ) | | $ | 92,632 | |
Total Return Swap Agreements—Short
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Nikkei 225 Stock Average | | Goldman Sachs International | | 2/27/20 | | | (1.79 | )% | | $ | (127,737 | ) | | $ | 2,026 | |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
168 :: UltraShort Latin America ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Repurchase Agreements(a)(b) (117.9%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $4,018,488 | | $ | 4,018,000 | | | $ | 4,018,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $4,018,000) | | | | | | | 4,018,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $4,018,000)—117.9% | | | | | | | 4,018,000 | |
| Net other assets (liabilities)—(17.9)% | | | | | | | (608,704 | ) |
| NET ASSETS—100.0% | | | | | | $ | 3,409,296 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $222,000. |
Total Return Swap Agreements—Short
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| S&P/BNY Mellon Latin America 35 ADR Index (USD) | | Goldman Sachs International | | 2/27/20 | | | (0.99 | )% | | $ | (3,691,631 | ) | | $ | 70,072 | |
| S&P/BNY Mellon Latin America 35 ADR Index (USD) | | UBS AG | | 2/27/20 | | | (1.09 | )% | | | (3,132,173 | ) | | | 79,075 | |
| | | | | | | | | | | $ | (6,823,804 | ) | | $ | 149,147 | |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: UltraShort Mid-Cap ProFund :: 169
Repurchase Agreements(a)(b) (95.6%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $1,331,162 | | $ | 1,331,000 | | | $ | 1,331,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $1,331,000) | | | | | | | 1,331,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $1,331,000)—95.6% | | | | | | | 1,331,000 | |
| Net other assets (liabilities)—4.4% | | | | | | | 61,637 | |
| NET ASSETS—100.0% | | | | | | $ | 1,392,637 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $659,000. |
Futures Contracts Sold
| | | Number
of
Contracts | | Expiration
Date | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini S&P MidCap 400 Futures Contracts | | 1 | | 3/23/20 | | $ | (200,600 | ) | | $ | 3,483 | |
Total Return Swap Agreements—Short
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| S&P MidCap 400 | | Goldman Sachs International | | 2/27/20 | | | (1.64 | )% | | $ | (1,199,010 | ) | | $ | 17,435 | |
| S&P MidCap 400 | | UBS AG | | 2/27/20 | | | (1.59 | )% | | | (1,384,466 | ) | | | 18,458 | |
| | | | | | | | | | | $ | (2,583,476 | ) | | $ | 35,893 | |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
170 :: UltraShort Nasdaq-100 ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Repurchase Agreements(a)(b) (96.8%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $14,424,751 | | $ | 14,423,000 | | | $ | 14,423,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $14,423,000) | | | | | | | 14,423,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $14,423,000)—96.8% | | | | | | | 14,423,000 | |
| Net other assets (liabilities)—3.2% | | | | | | | 472,258 | |
| NET ASSETS—100.0% | | | | | | $ | 14,895,258 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $3,708,000. |
Futures Contracts Sold
| | | Number
of
Contracts | | Expiration
Date | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini Nasdaq-100 Futures Contracts | | 10 | | 3/23/20 | | $ | (1,799,050 | ) | | $ | (100,925 | ) |
Total Return Swap Agreements—Short
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Nasdaq-100 Index | | Goldman Sachs International | | 2/27/20 | | | (1.89 | )% | | $ | (23,609,545 | ) | | $ | (296,075 | ) |
| Nasdaq-100 Index | | UBS AG | | 2/27/20 | | | (1.74 | )% | | | (4,421,904 | ) | | | (7,844 | ) |
| | | | | | | | | | | $ | (28,031,449 | ) | | $ | (303,919 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: UltraShort Small-Cap ProFund :: 171
Repurchase Agreements(a)(b) (95.9%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–51%, dated 1/31/20, due 2/3/20, total to be received $5,708,693 | | $ | 5,708,000 | | | $ | 5,708,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $5,708,000) | | | | | | | 5,708,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $5,708,000)—95.9% | | | | | | | 5,708,000 | |
| Net other assets (liabilities)—4.1% | | | | | | | 246,774 | |
| NET ASSETS—100.0% | | | | | | $ | 5,954,774 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $1,225,000. |
Futures Contracts Sold
| | | Number
of
Contracts | | Expiration
Date | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini Russell 2000 Index Futures Contracts | | 4 | | 3/23/20 | | $ | (322,920 | ) | | $ | 6,814 | |
Total Return Swap Agreements—Short
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Russell 2000 Index | | Goldman Sachs International | | 2/27/20 | | | (1.34 | )% | | $ | (10,511,501 | ) | | $ | 198,440 | |
| Russell 2000 Index | | UBS AG | | 2/27/20 | | | (1.09 | )% | | | (1,088,604 | ) | | | 6,896 | |
| | | | | | | | | | | $ | (11,600,105 | ) | | $ | 205,336 | |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
172 :: UltraSmall-Cap ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks (49.2%)
| | | Percentage
of Net Assets | | | Shares | | | Value | |
| Aaron's, Inc. (Specialty Retail)* | | | 0.1 | % | | | 868 | | | $ | 51,525 | |
| ACADIA Pharmaceuticals, Inc.* (Biotechnology)* | | | 0.1 | % | | | 1,305 | | | | 52,121 | |
| ALLETE, Inc. (Electric Utilities)* | | | 0.1 | % | | | 654 | | | | 54,596 | |
| Amedisys, Inc.* (Health Care Providers & Services)* | | | 0.2 | % | | | 435 | | | | 76,772 | |
| Axon Enterprise, Inc.* (Aerospace & Defense)* | | | 0.1 | % | | | 761 | | | | 58,453 | |
| Black Hills Corp. (Multi-Utilities)* | | | 0.1 | % | | | 761 | | | | 63,185 | |
| Blackstone Mortgage Trust, Inc.—Class A (Mortgage Real Estate Investment Trusts)* | | | 0.1 | % | | | 1,521 | | | | 58,102 | |
| Chegg, Inc.* (Diversified Consumer Services)* | | | 0.1 | % | | | 1,413 | | | | 58,257 | |
| Churchill Downs, Inc. (Hotels, Restaurants & Leisure)* | | | 0.1 | % | | | 435 | | | | 62,804 | |
| Cirrus Logic, Inc.* (Semiconductors & Semiconductor Equipment)* | | | 0.1 | % | | | 761 | | | | 58,453 | |
| Darling Ingredients, Inc.* (Food Products)* | | | 0.1 | % | | | 1,956 | | | | 53,066 | |
| Deckers Outdoor Corp.* (Textiles, Apparel & Luxury Goods)* | | | 0.1 | % | | | 326 | | | | 62,237 | |
| EastGroup Properties, Inc. (Equity Real Estate Investment Trusts)* | | | 0.1 | % | | | 435 | | | | 59,190 | |
| EMCOR Group, Inc. (Construction & Engineering)* | | | 0.1 | % | | | 650 | | | | 53,410 | |
| Essent Group, Ltd. (Thrifts & Mortgage Finance)* | | | 0.1 | % | | | 1,197 | | | | 59,382 | |
| First Financial Bankshares, Inc. (Banks)* | | | 0.1 | % | | | 1,632 | | | | 54,704 | |
| First Industrial Realty Trust, Inc. (Equity Real Estate Investment Trusts)* | | | 0.1 | % | | | 1,521 | | | | 64,947 | |
| Five9, Inc.* (Software)* | | | 0.1 | % | | | 761 | | | | 54,586 | |
| FTI Consulting, Inc.* (Professional Services)* | | | 0.1 | % | | | 435 | | | | 52,225 | |
| Generac Holdings, Inc.* (Electrical Equipment)* | | | 0.2 | % | | | 761 | | | | 78,831 | |
| Globus Medical, Inc.—Class A* (Health Care Equipment & Supplies)* | | | 0.1 | % | | | 978 | | | | 51,129 | |
| Haemonetics Corp.* (Health Care Equipment & Supplies)* | | | 0.2 | % | | | 650 | | | | 69,803 | |
| Healthcare Realty Trust, Inc. (Equity Real Estate Investment Trusts)* | | | 0.1 | % | | | 1,521 | | | | 54,847 | |
| Helen of Troy, Ltd.* (Household Durables)* | | | 0.1 | % | | | 326 | | | | 61,630 | |
| j2 Global, Inc. (Software)* | | | 0.1 | % | | | 545 | | | | 52,244 | |
| Lumentum Holdings, Inc.* (Communications Equipment)* | | | 0.2 | % | | | 978 | | | | 74,102 | |
| Marriott Vacations Worldwide Corp. (Hotels, Restaurants & Leisure)* | | | 0.1 | % | | | 545 | | | | 65,530 | |
| MAXIMUS, Inc. (IT Services)* | | | 0.1 | % | | | 761 | | | | 54,601 | |
| MSA Safety, Inc. (Commercial Services & Supplies)* | | | 0.1 | % | | | 435 | | | | 58,985 | |
| Novocure, Ltd.* (Health Care Equipment & Supplies)* | | | 0.2 | % | | | 978 | | | | 79,667 | |
| ONE Gas, Inc. (Gas Utilities)* | | | 0.1 | % | | | 650 | | | | 61,424 | |
| Performance Food Group Co.* (Food & Staples Retailing)* | | | 0.2 | % | | | 1,305 | | | | 67,587 | |
| PNM Resources, Inc. (Electric Utilities)* | | | 0.1 | % | | | 978 | | | | 53,037 | |
| Portland General Electric Co. (Electric Utilities)* | | | 0.1 | % | | | 1,086 | | | | 66,788 | |
| Radian Group, Inc. (Thrifts & Mortgage Finance)* | | | 0.1 | % | | | 2,500 | | | | 61,224 | |
| RBC Bearings, Inc.* (Machinery)* | | | 0.1 | % | | | 326 | | | | 50,696 | |
| Repligen Corp.* (Biotechnology)* | | | 0.1 | % | | | 545 | | | | 54,712 | |
| Rexford Industrial Realty, Inc. (Equity Real Estate Investment Trusts)* | | | 0.1 | % | | | 1,305 | | | | 62,888 | |
| Science Applications International Corp. (IT Services)* | | | 0.1 | % | | | 761 | | | | 66,792 | |
| Silicon Laboratories, Inc.* (Semiconductors & Semiconductor Equipment)* | | | 0.1 | % | | | 545 | | | | 53,579 | |
| Siteone Landscape Supply, Inc.* (Trading Companies & Distributors)* | | | 0.1 | % | | | 545 | | | | 52,619 | |
| Spire, Inc. (Gas Utilities)* | | | 0.1 | % | | | 650 | | | | 54,807 | |
| Stifel Financial Corp. (Capital Markets)* | | | 0.1 | % | | | 868 | | | | 56,150 | |
| Tech Data Corp.* (Electronic Equipment, Instruments & Components)* | | | 0.1 | % | | | 435 | | | | 62,613 | |
| Teladoc Health, Inc.* (Health Care Technology)* | | | 0.2 | % | | | 868 | | | | 88,284 | |
| Tetra Tech, Inc. (Commercial Services & Supplies)* | | | 0.1 | % | | | 650 | | | | 55,640 | |
| Texas Roadhouse, Inc.—Class A (Hotels, Restaurants & Leisure)* | | | 0.1 | % | | | 868 | | | | 54,250 | |
| The Brink's Co. (Commercial Services & Supplies)* | | | 0.1 | % | | | 650 | | | | 54,724 | |
| Trex Co., Inc.* (Building Products)* | | | 0.2 | % | | | 761 | | | | 74,762 | |
| Other Common Stocks | | | 42.6 | % | | | 780,099 | | | | 19,211,501 | |
TOTAL COMMON STOCKS
(Cost $15,759,154) | | | | | | | | | | | 22,173,461 | |
| | | | | | | | | | | | | |
| Contingent Right(NM) | | | | | | | | | | | | |
| A. Schulman, Inc.*+(a) (Chemicals) | | | | | | | 536 | | | | 280 | |
TOTAL CONTINGENT RIGHT
(Cost $1,072) | | | | | | | | | | | 280 | |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: UltraSmall-Cap ProFund :: 173
Trust (0.00%)
| | | Interest
Units | | | Value | |
| Ferroglobe PLC*+ (Metals & Mining) | | | 1,320 | | | $ | — | |
TOTAL TRUST
(Cost $—) | | | | | | | — | |
Repurchase Agreements(b)(c) (41.5%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $18,691,269 | | $ | 18,689,000 | | | $ | 18,689,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $18,689,000) | | | | | | | 18,689,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $34,449,226)—90.7% | | | | | | | 40,862,741 | |
| Net other assets (liabilities)—9.3% | | | | | | | 4,182,976 | |
| NET ASSETS—100.0% | | | | | | $ | 45,045,717 | |
| * | Non-income producing security. |
| + | These securities were fair valued based on procedures approved by the Board of Trustees. As of January 31, 2020, these securities represented less than 0.005% of the net assets of the Fund. |
| (a) | No explicit expiration date, expiration is subject to contingencies. In August 2018, LyondellBasell Industries N.V. completed an acquisition of 100% of A. Schulman, Inc. in exchange for cash and a contingent right per share acquired. Rights entitle the Fund to certain net proceeds, if any, that are recovered from ongoing litigation and government investigations related to past acquisitions made my A. Schulman, Inc. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $7,278,000. |
| (c) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
Futures Contracts Purchased
| | | Number
of
Contracts | | Expiration
Date | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini Russell 2000 Index Futures Contracts | | 68 | | 3/23/20 | | $ | 5,489,640 | | | $ | (116,043 | ) |
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| iShares Russell 2000 ETF | | Goldman Sachs International | | 2/27/20 | | | 1.64 | % | | $ | 10,757,613 | | | $ | (163,741 | ) |
| Russell 2000 Index | | Goldman Sachs International | | 2/27/20 | | | 1.84 | % | | | 21,986,101 | | | | (416,434 | ) |
| | | | | | | | | | | $ | 32,743,714 | | | $ | (580,175 | ) |
| iShares Russell 2000 ETF | | UBS AG | | 2/27/20 | | | 1.39 | % | | $ | 12,718,295 | | | $ | (179,211 | ) |
| Russell 2000 Index | | UBS AG | | 2/27/20 | | | 1.59 | % | | | 16,612,789 | | | | (157,454 | ) |
| | | | | | | | | | | $ | 29,331,084 | | | $ | (336,665 | ) |
| | | | | | | | | | | $ | 62,074,798 | | | $ | (916,840 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
174 :: UltraSmall-Cap ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
UltraSmall-Cap ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 336,514 | | | | 0.7 | % |
| Air Freight & Logistics | | | 73,917 | | | | 0.2 | % |
| Airlines | | | 105,188 | | | | 0.2 | % |
| Auto Components | | | 253,906 | | | | 0.6 | % |
| Automobiles | | | 17,852 | | | | NM | |
| Banks | | | 2,055,935 | | | | 4.6 | % |
| Beverages | | | 84,013 | | | | 0.2 | % |
| Biotechnology | | | 1,364,291 | | | | 2.9 | % |
| Building Products | | | 401,160 | | | | 0.9 | % |
| Capital Markets | | | 346,288 | | | | 0.8 | % |
| Chemicals | | | 417,067 | | | | 0.9 | % |
| Commercial Services & Supplies | | | 662,713 | | | | 1.5 | % |
| Communications Equipment | | | 257,509 | | | | 0.6 | % |
| Construction & Engineering | | | 235,130 | | | | 0.5 | % |
| Construction Materials | | | 38,789 | | | | 0.1 | % |
| Consumer Finance | | | 143,673 | | | | 0.3 | % |
| Containers & Packaging | | | 20,215 | | | | NM | |
| Distributors | | | 16,013 | | | | NM | |
| Diversified Consumer Services | | | 206,941 | | | | 0.5 | % |
| Diversified Financial Services | | | 58,655 | | | | 0.1 | % |
| Diversified Telecommunication Services | | | 126,291 | | | | 0.3 | % |
| Electric Utilities | | | 269,599 | | | | 0.6 | % |
| Electrical Equipment | | | 265,464 | | | | 0.6 | % |
| Electronic Equipment, Instruments & Components | | | 592,798 | | | | 1.3 | % |
| Energy Equipment & Services | | | 163,736 | | | | 0.4 | % |
| Entertainment | | | 49,278 | | | | 0.1 | % |
| Equity Real Estate Investment Trusts | | | 1,648,718 | | | | 3.6 | % |
| Food & Staples Retailing | | | 159,816 | | | | 0.4 | % |
| Food Products | | | 280,290 | | | | 0.6 | % |
| Gas Utilities | | | 288,467 | | | | 0.6 | % |
| Health Care Equipment & Supplies | | | 879,951 | | | | 2.0 | % |
| Health Care Providers & Services | | | 502,951 | | | | 1.1 | % |
| Health Care Technology | | | 251,795 | | | | 0.6 | % |
| Hotels, Restaurants & Leisure | | | 631,639 | | | | 1.4 | % |
| Household Durables | | | 456,952 | | | | 1.0 | % |
| Household Products | | | 56,868 | | | | 0.1 | % |
| Independent Power and Renewable Electricity Producers | | | 106,909 | | | | 0.2 | % |
| Industrial Conglomerates | | | 13,642 | | | | NM | |
| Insurance | | | 512,524 | | | | 1.1 | % |
| Interactive Media & Services | | | 95,608 | | | | 0.2 | % |
| Internet & Direct Marketing Retail | | | 68,888 | | | | 0.2 | % |
| IT Services | | | 531,342 | | | | 1.2 | % |
| Leisure Products | | | 83,908 | | | | 0.2 | % |
| Life Sciences Tools & Services | | | 163,363 | | | | 0.4 | % |
| Machinery | | | 882,141 | | | | 2.0 | % |
| Marine | | | 19,625 | | | | NM | |
| Media | | | 169,543 | | | | 0.4 | % |
| Metals & Mining | | | 269,198 | | | | 0.6 | % |
| Mortgage Real Estate Investment Trusts | | | 316,700 | | | | 0.7 | % |
| Multiline Retail | | | 18,477 | | | | NM | |
| Multi-Utilities | | | 165,300 | | | | 0.4 | % |
| Oil, Gas & Consumable Fuels | | | 339,987 | | | | 0.8 | % |
| Paper & Forest Products | | | 104,757 | | | | 0.2 | % |
| Personal Products | | | 55,824 | | | | 0.1 | % |
| Pharmaceuticals | | | 390,112 | | | | 0.9 | % |
| Professional Services | | | 357,163 | | | | 0.8 | % |
| Real Estate Management & Development | | | 170,880 | | | | 0.4 | % |
| Road & Rail | | | 118,788 | | | | 0.3 | % |
| Semiconductors & Semiconductor Equipment | | | 641,973 | | | | 1.4 | % |
| Software | | | 1,103,744 | | | | 2.5 | % |
| Specialty Retail | | | 532,506 | | | | 1.2 | % |
| Technology Hardware, Storage & Peripherals | | | 38,405 | | | | 0.1 | % |
| Textiles, Apparel & Luxury Goods | | | 225,373 | | | | 0.5 | % |
| Thrifts & Mortgage Finance | | | 464,533 | | | | 1.0 | % |
| Tobacco | | | 35,355 | | | | 0.1 | % |
| Trading Companies & Distributors | | | 318,211 | | | | 0.7 | % |
| Water Utilities | | | 110,452 | | | | 0.2 | % |
| Wireless Telecommunication Services | | | 28,128 | | | | 0.1 | % |
| Other** | | | 22,871,976 | | | | 50.8 | % |
| Total | | $ | 45,045,717 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
| NM | Not meaningful, amount is less than 0.05%. |
See accompanying notes to the financial statements.
January 31, 2020 (unaudited) :: Schedule of Portfolio Investments:: Utilities UltraSector ProFund :: 175
Common Stocks (76.4%)
| | | Shares | | | Value | |
| ALLETE, Inc. (Electric Utilities) | | | 1,360 | | | $ | 113,533 | |
| Alliant Energy Corp. (Electric Utilities) | | | 6,330 | | | | 375,749 | |
| Ameren Corp. (Multi-Utilities) | | | 6,479 | | | | 531,602 | |
| American Electric Power Co., Inc. (Electric Utilities) | | | 13,010 | | | | 1,355,902 | |
| American Water Works Co., Inc. (Water Utilities) | | | 4,761 | | | | 648,448 | |
| Aqua America, Inc. (Water Utilities) | | | 5,684 | | | | 295,227 | |
| Atmos Energy Corp. (Gas Utilities) | | | 3,143 | | | | 367,825 | |
| Avangrid, Inc. (Electric Utilities) | | | 1,465 | | | | 78,026 | |
| Avista Corp. (Multi-Utilities) | | | 1,756 | | | | 89,293 | |
| Black Hills Corp. (Multi-Utilities) | | | 1,618 | | | | 134,343 | |
| CenterPoint Energy, Inc. (Multi-Utilities) | | | 13,226 | | | | 350,224 | |
| CMS Energy Corp. (Multi-Utilities) | | | 7,475 | | | | 512,112 | |
| Consolidated Edison, Inc. (Multi-Utilities) | | | 8,756 | | | | 823,064 | |
| Dominion Energy, Inc. (Multi-Utilities) | | | 21,680 | | | | 1,859,061 | |
| DTE Energy Co. (Multi-Utilities) | | | 5,061 | | | | 671,139 | |
| Duke Energy Corp. (Electric Utilities) | | | 19,200 | | | | 1,874,496 | |
| Edison International (Electric Utilities) | | | 9,445 | | | | 723,015 | |
| El Paso Electric Co. (Electric Utilities) | | | 1,071 | | | | 72,924 | |
| Entergy Corp. (Electric Utilities) | | | 5,244 | | | | 689,691 | |
| Evergy, Inc. (Electric Utilities) | | | 6,001 | | | | 433,032 | |
| Eversource Energy (Electric Utilities) | | | 8,528 | | | | 788,328 | |
| Exelon Corp. (Electric Utilities) | | | 25,603 | | | | 1,218,447 | |
| FirstEnergy Corp. (Electric Utilities) | | | 14,230 | | | | 722,742 | |
| Hawaiian Electric Industries, Inc. (Electric Utilities) | | | 2,869 | | | | 140,323 | |
| IDACORP, Inc. (Electric Utilities) | | | 1,328 | | | | 148,988 | |
| MDU Resources Group, Inc. (Multi-Utilities) | | | 5,276 | | | | 156,222 | |
| National Fuel Gas Co. (Gas Utilities) | | | 2,274 | | | | 98,214 | |
| New Jersey Resources Corp. (Gas Utilities) | | | 2,514 | | | | 103,878 | |
| NextEra Energy, Inc. (Electric Utilities) | | | 12,874 | | | | 3,452,808 | |
| NiSource, Inc. (Multi-Utilities) | | | 9,837 | | | | 288,322 | |
| NorthWestern Corp. (Multi-Utilities) | | | 1,328 | | | | 102,216 | |
| NRG Energy, Inc. (Independent Power and Renewable Electricity Producers) | | | 6,626 | | | | 244,433 | |
| ONE Gas, Inc. (Gas Utilities) | | | 1,388 | | | | 131,166 | |
| Pinnacle West Capital Corp. (Electric Utilities) | | | 2,961 | | | | 289,260 | |
| PNM Resources, Inc. (Electric Utilities) | | | 2,097 | | | | 113,720 | |
| Portland General Electric Co. (Electric Utilities) | | | 2,354 | | | | 144,771 | |
| PPL Corp. (Electric Utilities) | | | 19,041 | | | | 689,094 | |
| Public Service Enterprise Group, Inc. (Multi-Utilities) | | | 13,321 | | | | 788,603 | |
| Sempra Energy (Multi-Utilities) | | | 7,425 | | | | 1,192,752 | |
| South Jersey Industries, Inc. (Gas Utilities) | | | 2,432 | | | | 74,906 | |
| Southwest Gas Holdings, Inc. (Gas Utilities) | | | 1,439 | | | | 108,659 | |
| Spire, Inc. (Gas Utilities) | | | 1,343 | | | | 113,242 | |
The AES Corp. (Independent Power and
Renewable Electricity Producers) | | | 17,480 | | | | 347,153 | |
| The Southern Co. (Electric Utilities) | | | 27,620 | | | | 1,944,448 | |
| UGI Corp. (Gas Utilities) | | | 5,504 | | | | 228,911 | |
| Vistra Energy Corp. (Independent Power and Renewable Electricity Producers) | | | 11,810 | | | | 265,961 | |
| WEC Energy Group, Inc. (Multi-Utilities) | | | 8,307 | | | | 829,786 | |
| Xcel Energy, Inc. (Electric Utilities) | | | 13,812 | | | | 955,652 | |
TOTAL COMMON STOCKS
(Cost $19,691,063) | | | | | | | 27,681,711 | |
Repurchase Agreements(a)(b) (29.7%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%–1.51%, dated 1/31/20, due 2/3/20, total to be received $10,762,306 | | $ | 10,761,000 | | | $ | 10,761,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $10,761,000) | | | | | | | 10,761,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $30,452,063)—106.1% | | | | | | | 38,442,711 | |
| Net other assets (liabilities)—(6.1)% | | | | | | | (2,193,405 | ) |
| NET ASSETS—100.0% | | | | | | $ | 36,249,306 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $5,610,000. |
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Dow Jones U.S. Utilities Index | | Goldman Sachs International | | 2/24/20 | | | 2.09 | % | | $ | 13,940,647 | | | $ | 147,705 | |
| Dow Jones U.S. Utilities Index | | UBS AG | | 2/24/20 | | | 1.94 | % | | | 12,902,868 | | | | 113,298 | |
| | | | | | | | | | | $ | 26,843,515 | | | $ | 261,003 | |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
See accompanying notes to the financial statements.
176 :: Utilities UltraSector ProFund ::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Utilities UltraSector ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Electric Utilities | | $ | 16,324,949 | | | | 45.0 | % |
| Gas Utilities | | | 1,226,801 | | | | 3.4 | % |
| Independent Power and Renewable Electricity Producers | | | 857,547 | | | | 2.4 | % |
| Multi-Utilities | | | 8,328,739 | | | | 23.0 | % |
| Water Utilities | | | 943,675 | | | | 2.6 | % |
| Other** | | | 8,567,595 | | | | 23.6 | % |
| Total | | $ | 36,249,306 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
See accompanying notes to the financial statements.
Statements of Assets and Liabilities
178 :: Statements of Assets and Liabilities ::January 31, 2020 (unaudited)
| | | Banks
UltraSector
ProFund | | | Basic Materials
UltraSector
ProFund | | | Bear ProFund | | | Biotechnology
UltraSector
ProFund | |
| ASSETS: | | | | | | | | | | | | | | | | |
| Total Investment Securities, at cost | | $ | 5,464,867 | | | $ | 2,506,334 | | | $ | 14,164,000 | | | $ | 114,932,469 | |
| Securities, at value(a) | | | 8,201,648 | | | | 3,153,482 | | | | — | | | | 134,594,738 | |
| Repurchase agreements, at value | | | 3,355,000 | | | | 1,135,000 | | | | 14,164,000 | | | | 41,229,000 | |
| Total Investment Securities, at value | | | 11,556,648 | | | | 4,288,482 | | | | 14,164,000 | | | | 175,823,738 | |
| Cash | | | 879 | | | | 544 | | | | 938 | | | | 782 | |
| Segregated cash balances for futures contracts with brokers | | | — | | | | — | | | | 50,820 | | | | — | |
| Segregated cash balances for swap agreements with custodian | | | — | | | | — | | | | — | | | | — | |
| Unrealized appreciation on forward currency contracts | | | — | | | | — | | | | — | | | | — | |
| Dividends and interest receivable | | | 16,913 | | | | 2,502 | | | | 573 | | | | 319,199 | |
| Receivable for capital shares issued | | | 341,528 | | | | 12,585 | | | | 964,066 | | | | 213,487 | |
| Unrealized appreciation on swap agreements | | | — | | | | — | | | | 67,217 | | | | — | |
| Variation margin on futures contracts | | | — | | | | — | | | | 23,520 | | | | — | |
| Prepaid expenses | | | 12,588 | | | | 12,462 | | | | 28,668 | | | | 22,599 | |
| Receivable for tax reclaims | | | — | | | | — | | | | — | | | | — | |
| TOTAL ASSETS | | | 11,928,556 | | | | 4,316,575 | | | | 15,299,802 | | | | 176,379,805 | |
| LIABILITIES: | | | | | | | | | | | | | | | | |
| Cash overdraft | | | — | | | | — | | | | — | | | | — | |
| Payable for investments purchased | | | — | | | | — | | | | — | | | | — | |
| Payable for collateral for securities loaned | | | — | | | | 74,516 | | | | — | | | | — | |
| Payable for capital shares redeemed | | | 183,481 | | | | 330,520 | | | | 286,990 | | | | 654,094 | |
| Unrealized depreciation on forward currency contracts | | | — | | | | — | | | | — | | | | — | |
| Unrealized depreciation on swap agreements | | | 656,622 | | | | 137,832 | | | | — | | | | 6,927,510 | |
| Variation margin on futures contracts | | | — | | | | — | | | | — | | | | — | |
| Advisory fees payable | | | 21,531 | | | | 1,146 | | | | 9,197 | | | | 121,191 | |
| Management services fees payable | | | 4,306 | | | | 229 | | | | 1,840 | | | | 24,239 | |
| Administration fees payable | | | 1,050 | | | | 133 | | | | 534 | | | | 5,912 | |
| Distribution and services fees payable—Service Class | | | 505 | | | | 392 | | | | 338 | | | | 5,612 | |
| Trustee fees payable | | | 14 | | | | 1 | | | | 5 | | | | 69 | |
| Transfer agency fees payable | | | 1,766 | | | | 358 | | | | 768 | | | | 8,720 | |
| Fund accounting fees payable | | | 1,310 | | | | 176 | | | | 554 | | | | 7,288 | |
| Compliance services fees payable | | | 149 | | | | 24 | | | | 91 | | | | 984 | |
| Service fees payable | | | 149 | | | | 19 | | | | 64 | | | | 836 | |
| Other accrued expenses | | | 42,880 | | | | 3,794 | | | | 12,445 | | | | 196,531 | |
| TOTAL LIABILITIES | | | 913,763 | | | | 549,140 | | | | 312,826 | | | | 7,952,986 | |
| NET ASSETS | | $ | 11,014,793 | | | $ | 3,767,435 | | | $ | 14,986,976 | | | $ | 168,426,819 | |
| NET ASSETS CONSIST OF: | | | | | | | | | | | | | | | | |
| Capital | | $ | 8,748,742 | | | $ | 3,899,793 | | | $ | 75,093,092 | | | $ | 95,548,268 | |
| Total distributable earnings (loss) | | | 2,266,051 | | | | (132,358 | ) | | | (60,106,116 | ) | | | 72,878,551 | |
| NET ASSETS | | $ | 11,014,793 | | | $ | 3,767,435 | | | $ | 14,986,976 | | | $ | 168,426,819 | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Investor Class | | $ | 10,514,636 | | | $ | 3,458,513 | | | $ | 14,289,167 | | | $ | 162,559,756 | |
| Service Class | | | 500,157 | | | | 308,922 | | | | 697,809 | | | | 5,867,063 | |
SHARES OF BENEFICIAL INTEREST OUTSTANDING
(unlimited number of shares authorized, no par value): | | |
| Investor Class | | | 197,207 | | | | 56,864 | | | | 551,441 | | | | 2,886,706 | |
| Service Class | | | 10,074 | | | | 5,728 | | | | 29,184 | | | | 136,145 | |
NET ASSET VALUE
(offering and redemption price per share): | | | | | | | | | | | | | | | | |
| Investor Class | | $ | 53.32 | | | $ | 60.82 | | | $ | 25.91 | | | $ | 56.31 | |
| Service Class | | | 49.65 | | | | 53.93 | | | | 23.91 | | | | 43.09 | |
| (a) Includes securities on loan valued at: | | $ | — | | | $ | 71,593 | | | $ | — | | | $ | — | |
Amounts designated as “ – ” are $0 or have been rounded to $0.
See accompanying notes to the financial statements.
January 31, 2020 (unaudited):: Statements of Assets and Liabilities :: 179
Bull
ProFund | | | Communication
Services
UltraSector
ProFund | | | Consumer
Goods
UltraSector
ProFund | | | Consumer
Services
UltraSector
ProFund | | | Europe 30
ProFund | | | Falling
U.S. Dollar
ProFund | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 39,078,514 | | | $ | 7,064,181 | | | $ | 6,057,575 | | | $ | 27,690,036 | | | $ | 3,798,515 | | | $ | 1,110,000 | |
| | 47,811,489 | | | | 5,720,542 | | | | 6,057,930 | | | | 39,639,451 | | | | 4,788,313 | | | | — | |
| | 21,651,000 | | | | 1,921,000 | | | | 1,996,000 | | | | 10,745,000 | | | | 21,000 | | | | 1,110,000 | |
| | 69,462,489 | | | | 7,641,542 | | | | 8,053,930 | | | | 50,384,451 | | | | 4,809,313 | | | | 1,110,000 | |
| | — | | | | 273 | | | | 312 | | | | 902 | | | | 722 | | | | 682 | |
| | 428,340 | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | — | | | | 19 | | | | 692 | | | | — | | | | — | | | | 901 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | 3,233 | |
| | 46,311 | | | | 5,806 | | | | 9,284 | | | | 6,663 | | | | 6,136 | | | | 45 | |
| | 268,750 | | | | 21,487 | | | | 69,897 | | | | 70,437 | | | | 52,953 | | | | 2,902 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 34,082 | | | | 19,014 | | | | 19,382 | | | | 25,580 | | | | 18,870 | | | | 10,726 | |
| | — | | | | — | | | | — | | | | — | | | | 2,326 | | | | — | |
| | 70,239,972 | | | | 7,688,141 | | | | 8,153,497 | | | | 50,488,033 | | | | 4,890,320 | | | | 1,128,489 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 23,625 | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | — | | | | — | | | | — | | | | — | | | | 60,067 | | | | — | |
| | 22,576 | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 2,825,547 | | | | 94,451 | | | | 330,497 | | | | 159,847 | | | | 12,334 | | | | — | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | 8,357 | |
| | 57,753 | | | | 268,731 | | | | 110,647 | | | | 605,877 | | | | — | | | | — | |
| | 198,240 | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 45,592 | | | | 3,982 | | | | 3,939 | | | | 32,582 | | | | 2,042 | | | | 5,317 | |
| | 9,119 | | | | 797 | | | | 788 | | | | 6,517 | | | | 409 | | | | 1,064 | |
| | 2,645 | | | | 247 | | | | 243 | | | | 1,594 | | | | 186 | | | | 44 | |
| | 5,066 | | | | 138 | | | | 297 | | | | 1,859 | | | | 185 | | | | 7 | |
| | 23 | | | | 2 | | | | 2 | | | | 17 | | | | 2 | | | | — | |
| | 5,904 | | | | 485 | | | | 417 | | | | 2,416 | | | | 697 | | | | 102 | |
| | 2,884 | | | | 312 | | | | 327 | | | | 2,006 | | | | 201 | | | | 46 | |
| | 370 | | | | 43 | | | | 29 | | | | 332 | | | | 28 | | | | 6 | |
| | 316 | | | | 35 | | | | 34 | | | | 226 | | | | 22 | | | | 5 | |
| | 63,491 | | | | 29,710 | | | | 7,196 | | | | 58,637 | | | | 5,383 | | | | 14,877 | |
| | 3,263,151 | | | | 398,933 | | | | 454,416 | | | | 871,910 | | | | 81,556 | | | | 29,825 | |
| $ | 66,976,821 | | | $ | 7,289,208 | | | $ | 7,699,081 | | | $ | 49,616,123 | | | $ | 4,808,764 | | | $ | 1,098,664 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 37,735,086 | | | $ | 6,511,540 | | | $ | 5,662,383 | | | $ | 26,476,617 | | | $ | 8,562,432 | | | $ | 3,578,688 | |
| | 29,241,735 | | | | 777,668 | | | | 2,036,698 | | | | 23,139,506 | | | | (3,753,668 | ) | | | (2,480,024 | ) |
| $ | 66,976,821 | | | $ | 7,289,208 | | | $ | 7,699,081 | | | $ | 49,616,123 | | | $ | 4,808,764 | | | $ | 1,098,664 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 62,544,555 | | | $ | 7,132,398 | | | $ | 7,363,703 | | | $ | 47,337,251 | | | $ | 4,600,585 | | | $ | 1,089,671 | |
| | 4,432,266 | | | | 156,810 | | | | 335,378 | | | | 2,278,872 | | | | 208,179 | | | | 8,993 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 1,295,835 | | | | 73,284 | | | | 63,136 | | | | 975,416 | | | | 366,597 | | | | 68,209 | |
| | 111,483 | | | | 1,951 | | | | 3,187 | | | | 54,939 | | | | 15,129 | | | | 610 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 48.27 | | | $ | 97.33 | | | $ | 116.63 | | | $ | 48.53 | | | $ | 12.55 | | | $ | 15.98 | |
| | 39.76 | | | | 80.37 | | | | 105.23 | | | | 41.48 | | | | 13.76 | | | | 14.74 | |
| $ | 21,764 | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
See accompanying notes to the financial statements.
180 :: Statements of Assets and Liabilities ::January 31, 2020 (unaudited)
| | | Financials
UltraSector
ProFund | | | Health Care
UltraSector
ProFund | | | Industrials
UltraSector
ProFund | | | Internet
UltraSector
ProFund | |
| ASSETS: |
| Total Investment Securities, at cost | | $ | 8,770,597 | | | $ | 40,222,382 | | | $ | 7,148,238 | | | $ | 101,681,607 | |
| Securities, at value(a) | | | 9,515,999 | | | | 34,181,069 | | | | 8,032,364 | | | | 128,820,583 | |
| Repurchase agreements, at value | | | 3,215,000 | | | | 13,531,000 | | | | 2,559,000 | | | | 38,521,000 | |
| Total Investment Securities, at value | | | 12,730,999 | | | | 47,712,069 | | | | 10,591,364 | | | | 167,341,583 | |
| Cash | | | 926 | | | | 440 | | | | 261 | | | | 728 | |
| Segregated cash balances for futures contracts with brokers | | | — | | | | — | | | | — | | | | — | |
| Segregated cash balances for swap agreements with custodian | | | 792 | | | | 723 | | | | — | | | | — | |
| Dividends and interest receivable | | | 7,508 | | | | 36,054 | | | | 5,295 | | | | 1,687 | |
| Receivable for capital shares issued | | | 91,846 | | | | 54,167 | | | | 17,208 | | | | 428,764 | |
| Unrealized appreciation on swap agreements | | | — | | | | — | | | | — | | | | — | |
| Prepaid expenses | | | 21,924 | | | | 19,173 | | | | 25,586 | | | | 29,075 | |
| TOTAL ASSETS | | | 12,853,995 | | | | 47,822,626 | | | | 10,639,714 | | | | 167,801,837 | |
| LIABILITIES: | | | | | | | | | | | | | | | | |
| Cash overdraft | | | — | | | | — | | | | — | | | | — | |
| Payable for investments purchased | | | — | | | | — | | | | — | | | | — | |
| Payable for collateral for securities loaned | | | — | | | | 28,462 | | | | 670 | | | | — | |
| Payable for capital shares redeemed | | | 90,902 | | | | 1,060,812 | | | | 63,697 | | | | 369,463 | |
| Unrealized depreciation on swap agreements | | | 251,896 | | | | 1,498,497 | | | | 280,107 | | | | 3,993,962 | |
| Variation margin on futures contracts | | | — | | | | — | | | | — | | | | — | |
| Advisory fees payable | | | 7,785 | | | | 17,440 | | | | 5,713 | | | | 107,302 | |
| Management services fees payable | | | 1,557 | | | | 3,488 | | | | 1,143 | | | | 21,460 | |
| Administration fees payable | | | 381 | | | | 851 | | | | 337 | | | | 5,259 | |
| Distribution and services fees payable—Service Class | | | 556 | | | | 1,609 | | | | 618 | | | | 6,449 | |
| Trustee fees payable | | | 4 | | | | 9 | | | | 4 | | | | 53 | |
| Transfer agency fees payable | | | 670 | | | | 1,432 | | | | 638 | | | | 8,481 | |
| Fund accounting fees payable | | | 547 | | | | 1,081 | | | | 472 | | | | 6,484 | |
| Compliance services fees payable | | | 79 | | | | 112 | | | | 60 | | | | 949 | |
| Service fees payable | | | 54 | | | | 120 | | | | 48 | | | | 744 | |
| Other accrued expenses | | | 27,574 | | | | 30,215 | | | | 11,701 | | | | 192,264 | |
| TOTAL LIABILITIES | | | 382,005 | | | | 2,644,128 | | | | 365,208 | | | | 4,712,870 | |
| NET ASSETS | | $ | 12,471,990 | | | $ | 45,178,498 | | | $ | 10,274,506 | | | $ | 163,088,967 | |
| NET ASSETS CONSIST OF: | | | | | | | | | | | | | | | | |
| Capital | | $ | 9,956,236 | | | $ | 43,641,557 | | | $ | 9,099,204 | | | $ | 90,436,703 | |
| Total distributable earnings (loss) | | | 2,515,754 | | | | 1,536,941 | | | | 1,175,302 | | | | 72,652,264 | |
| NET ASSETS | | $ | 12,471,990 | | | $ | 45,178,498 | | | $ | 10,274,506 | | | $ | 163,088,967 | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Investor Class | | $ | 11,805,158 | | | $ | 43,455,791 | | | $ | 9,586,621 | | | $ | 155,605,760 | |
| Service Class | | | 666,832 | | | | 1,722,707 | | | | 687,885 | | | | 7,483,207 | |
SHARES OF BENEFICIAL INTEREST OUTSTANDING
(unlimited number of shares authorized, no par value): | | |
| Investor Class | | | 442,113 | | | | 623,722 | | | | 231,116 | | | | 1,618,270 | |
| Service Class | | | 29,216 | | | | 29,834 | | | | 19,094 | | | | 101,064 | |
NET ASSET VALUE
(offering and redemption price per share): | | | | | | | | | | | | | | | | |
| Investor Class | | $ | 26.70 | | | $ | 69.67 | | | $ | 41.48 | | | $ | 96.16 | |
| Service Class | | | 22.82 | | | | 57.74 | | | | 36.03 | | | | 74.04 | |
| (a) Includes securities on loan valued at: | | $ | — | | | $ | 27,055 | | | $ | 639 | | | $ | — | |
Amounts designated as “ – ” are $0 or have been rounded to $0.
See accompanying notes to the financial statements.
January 31, 2020 (unaudited):: Statements of Assets and Liabilities :: 181
Large-Cap
Growth
ProFund | | | Large-Cap
Value
ProFund | | | Mid-Cap
ProFund | | | Mid-Cap
Growth
ProFund | | | Mid-Cap
Value
ProFund | | | Nasdaq-100
ProFund | |
| $ | 10,350,734 | | | $ | 22,227,889 | | | $ | 8,242,063 | | | $ | 5,954,371 | | | $ | 4,711,561 | | | $ | 56,752,562 | |
| | 20,605,453 | | | | 24,644,288 | | | | 6,849,477 | | | | 7,941,064 | | | | 5,551,290 | | | | 66,952,648 | |
| | 23,000 | | | | 55,000 | | | | 3,204,000 | | | | 1,000 | | | | — | | | | 32,532,000 | |
| | 20,628,453 | | | | 24,699,288 | | | | 10,053,477 | | | | 7,942,064 | | | | 5,551,290 | | | | 99,484,648 | |
| | — | | | | — | | | | 657 | | | | 570 | | | | 659 | | | | 134 | |
| | — | | | | — | | | | 52,140 | | | | — | | | | — | | | | 602,250 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 9,649 | | | | 39,889 | | | | 4,808 | | | | 3,174 | | | | 5,972 | | | | 10,214 | |
| | 48,866 | | | | 3,560 | | | | 248,421 | | | | — | | | | — | | | | 2,777,084 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | 53,538 | |
| | 20,392 | | | | 14,092 | | | | 12,167 | | | | 11,743 | | | | 11,466 | | | | 20,495 | |
| | 20,707,360 | | | | 24,756,829 | | | | 10,371,670 | | | | 7,957,551 | | | | 5,569,387 | | | | 102,948,363 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 11,674 | | | | 10,358 | | | | — | | | | — | | | | — | | | | — | |
| | — | | | | — | | | | 1,692 | | | | — | | | | 2,920 | | | | — | |
| | — | | | | 24,752 | | | | 17,674 | | | | 1,842 | | | | 30,196 | | | | — | |
| | 58,312 | | | | 9,166 | | | | 14,703 | | | | 12,473 | | | | 5,880 | | | | 1,736,929 | |
| | — | | | | — | | | | 28,961 | | | | — | | | | — | | | | 2,347 | |
| | — | | | | — | | | | 25,500 | | | | — | | | | — | | | | 322,660 | |
| | 13,814 | | | | 17,139 | | | | 6,517 | | | | 8,372 | | | | 2,627 | | | | 62,063 | |
| | 2,763 | | | | 3,428 | | | | 1,304 | | | | 1,674 | | | | 525 | | | | 13,300 | |
| | 802 | | | | 993 | | | | 378 | | | | 486 | | | | 213 | | | | 3,861 | |
| | 3,337 | | | | 1,605 | | | | 639 | | | | 1,503 | | | | 498 | | | | 6,357 | |
| | 7 | | | | 10 | | | | 3 | | | | 3 | | | | 2 | | | | 34 | |
| | 2,287 | | | | 1,814 | | | | 596 | | | | 1,195 | | | | 741 | | | | 8,334 | |
| | 913 | | | | 1,136 | | | | 502 | | | | 571 | | | | 303 | | | | 4,036 | |
| | 137 | | | | 116 | | | | 43 | | | | 45 | | | | 35 | | | | 547 | |
| | 96 | | | | 119 | | | | 45 | | | | 58 | | | | 25 | | | | 461 | |
| | 24,140 | | | | 23,520 | | | | 17,810 | | | | 10,784 | | | | 3,441 | | | | 105,473 | |
| | 118,282 | | | | 94,156 | | | | 116,367 | | | | 39,006 | | | | 47,406 | | | | 2,266,402 | |
| $ | 20,589,078 | | | $ | 24,662,673 | | | $ | 10,255,303 | | | $ | 7,918,545 | | | $ | 5,521,981 | | | $ | 100,681,961 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 9,242,551 | | | $ | 21,869,586 | | | $ | 8,507,725 | | | $ | 6,681,031 | | | $ | 5,761,421 | | | $ | 46,217,562 | |
| | 11,346,527 | | | | 2,793,087 | | | | 1,747,578 | | | | 1,237,514 | | | | (239,440 | ) | | | 54,464,399 | |
| $ | 20,589,078 | | | $ | 24,662,673 | | | $ | 10,255,303 | | | $ | 7,918,545 | | | $ | 5,521,981 | | | $ | 100,681,961 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 16,688,433 | | | $ | 22,820,319 | | | $ | 9,582,506 | | | $ | 6,196,204 | | | $ | 4,956,255 | | | $ | 92,189,004 | |
| | 3,900,645 | | | | 1,842,354 | | | | 672,797 | | | | 1,722,341 | | | | 565,726 | | | | 8,492,957 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 166,315 | | | | 321,096 | | | | 113,155 | | | | 64,297 | | | | 66,541 | | | | 1,061,701 | |
| | 46,993 | | | | 29,168 | | | | 9,737 | | | | 21,594 | | | | 9,297 | | | | 120,416 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 100.34 | | | $ | 71.07 | | | $ | 84.68 | | | $ | 96.37 | | | $ | 74.48 | | | $ | 86.83 | |
| | 83 | | | | 63.16 | | | | 69.10 | | | | 79.76 | | | | 60.85 | | | | 70.53 | |
| $ | — | | | $ | 23,862 | | | $ | 16,420 | | | $ | 1,808 | | | $ | 28,011 | | | $ | — | |
See accompanying notes to the financial statements.
182 :: Statements of Assets and Liabilities ::January 31, 2020 (unaudited)
| | | Oil & Gas
UltraSector
ProFund | | | Oil
Equipment &
Services
UltraSector
ProFund | | | Pharmaceuticals
UltraSector
ProFund | | | Precious
Metals
UltraSector
ProFund | |
| ASSETS: | | | | | | | | | | | | | | | | |
| Total Investment Securities, at cost | | $ | 7,144,190 | | | $ | 5,215,270 | | | $ | 3,755,626 | | | $ | 25,889,111 | |
| Securities, at value(a) | | | 8,375,939 | | | | 4,246,451 | | | | 4,060,496 | | | | 30,425,010 | |
| Repurchase agreements, at value | | | 3,123,000 | | | | 1,185,000 | | | | 926,000 | | | | 8,163,000 | |
| Total Investment Securities, at value | | | 11,498,939 | | | | 5,431,451 | | | | 4,986,496 | | | | 38,588,010 | |
| Cash | | | 33,958 | | | | 1,147 | | | | 3,409 | | | | 737 | |
| Segregated cash balances for futures contracts with brokers | | | — | | | | — | | | | — | | | | — | |
| Segregated cash balances for swap agreements with custodian | | | — | | | | — | | | | — | | | | — | |
| Unrealized appreciation on forward currency contracts | | | — | | | | — | | | | — | | | | — | |
| Dividends and interest receivable | | | 10,320 | | | | 2,595 | | | | 3,357 | | | | 414 | |
| Receivable for investments sold | | | — | | | | 200,572 | | | | — | | | | — | |
| Receivable for capital shares issued | | | 402,308 | | | | 59,555 | | | | 23,362 | | | | 1,029,790 | |
| Receivable for closed forward currency contracts | | | — | | | | — | | | | — | | | | — | |
| Due from Advisor under a Receivables Agreement | | | — | | | | — | | | | — | | | | — | |
| Unrealized appreciation on swap agreements | | | — | | | | — | | | | — | | | | 453,079 | |
| Variation margin on futures contracts | | | — | | | | — | | | | — | | | | — | |
| Prepaid expenses | | | 11,157 | | | | 9,077 | | | | 11,647 | | | | 17,870 | |
| TOTAL ASSETS | | | 11,956,682 | | | | 5,704,397 | | | | 5,028,271 | | | | 40,089,900 | |
| LIABILITIES: | | | | | | | | | | | | | | | | |
| Payable for collateral for securities loaned | | | — | | | | 27,648 | | | | 20,415 | | | | 141,517 | |
| Payable for capital shares redeemed | | | 192,264 | | | | 399,459 | | | | 1,678 | | | | 735,858 | |
| Unrealized depreciation on forward currency contracts | | | — | | | | — | | | | — | | | | — | |
| Unrealized depreciation on swap agreements | | | 600,657 | | | | 327,834 | | | | 106,187 | | | | — | |
| Advisory fees payable | | | 7,782 | | | | 2,083 | | | | 2,076 | | | | 25,668 | |
| Management services fees payable | | | 1,557 | | | | 417 | | | | 415 | | | | 5,133 | |
| Administration fees payable | | | 379 | | | | 183 | | | | 165 | | | | 1,255 | |
| Distribution and services fees payable—Service Class | | | 500 | | | | 356 | | | | 927 | | | | 1,347 | |
| Trustee fees payable | | | 4 | | | | 2 | | | | 2 | | | | 12 | |
| Transfer agency fees payable | | | 804 | | | | 376 | | | | 435 | | | | 2,891 | |
| Fund accounting fees payable | | | 479 | | | | 235 | | | | 215 | | | | 1,553 | |
| Compliance services fees payable | | | 69 | | | | 36 | | | | 24 | | | | 203 | |
| Service fees payable | | | 54 | | | | 26 | | | | 23 | | | | 178 | |
| Other accrued expenses | | | 14,574 | | | | 5,275 | | | | 6,587 | | | | 37,923 | |
| TOTAL LIABILITIES | | | 819,123 | | | | 763,930 | | | | 139,149 | | | | 953,538 | |
| NET ASSETS | | $ | 11,137,559 | | | $ | 4,940,467 | | | $ | 4,889,122 | | | $ | 39,136,362 | |
| NET ASSETS CONSIST OF: | | | | | | | | | | | | | | | | |
| Capital | | $ | 18,742,657 | | | $ | 20,811,552 | | | $ | 4,309,962 | | | $ | 92,802,047 | |
| Total distributable earnings (loss) | | | (7,605,098 | ) | | | (15,871,085 | ) | | | 579,160 | | | | (53,665,685 | ) |
| NET ASSETS | | $ | 11,137,559 | | | $ | 4,940,467 | | | $ | 4,889,122 | | | $ | 39,136,362 | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Investor Class | | $ | 10,645,058 | | | $ | 4,619,719 | | | $ | 3,818,113 | | | $ | 37,478,103 | |
| Service Class | | | 492,501 | | | | 320,748 | | | | 1,071,009 | | | | 1,658,259 | |
SHARES OF BENEFICIAL INTEREST OUTSTANDING
(unlimited number of shares authorized, no par value): | | |
| Investor Class | | | 449,774 | | | | 162,821 | | | | 159,613 | | | | 717,041 | |
| Service Class | | | 24,163 | | | | 12,465 | | | | 51,779 | | | | 36,787 | |
NET ASSET VALUE
(offering and redemption price per share): | | | | | | | | | | | | | | | | |
| Investor Class | | $ | 23.67 | | | $ | 28.37 | | | $ | 23.92 | | | $ | 52.27 | |
| Service Class | | | 20.38 | | | | 25.73 | | | | 20.68 | | | | 45.08 | |
| (a) Includes securities on loan valued at: | | $ | — | | | $ | 25,634 | | | $ | 17,511 | | | $ | 138,599 | |
Amounts designated as “ – ” are $0 or have been rounded to $0.
See accompanying notes to the financial statements.
January 31, 2020 (unaudited):: Statements of Assets and Liabilities :: 183
Real Estate
UltraSector
ProFund | | | Rising Rates
Opportunity
ProFund | | | Rising Rates
Opportunity 10
ProFund | | | Rising
U.S. Dollar
ProFund | | | Semiconductor
UltraSector
ProFund | | | Short
Nasdaq-100
ProFund | |
| $ | 11,635,692 | | | $ | 14,186,000 | | | $ | 3,046,000 | | | $ | 8,505,000 | | | $ | 190,205,593 | | | $ | 4,734,000 | |
| | 8,714,506 | | | | — | | | | — | | | | — | | | | 153,818,489 | | | | — | |
| | 7,321,000 | | | | 14,186,000 | | | | 3,046,000 | | | | 8,505,000 | | | | 62,493,000 | | | | 4,734,000 | |
| | 16,035,506 | | | | 14,186,000 | | | | 3,046,000 | | | | 8,505,000 | | | | 216,311,489 | | | | 4,734,000 | |
| | 56 | | | | 774 | | | | 1 | | | | 21 | | | | 30 | | | | 651 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | 33,000 | |
| | — | | | | 100 | | | | — | | | | — | | | | 643 | | | | — | |
| | — | | | | — | | | | — | | | | 44,797 | | | | — | | | | — | |
| | 5,212 | | | | 574 | | | | 123 | | | | 344 | | | | 110,682 | | | | 192 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 675,710 | | | | 695,141 | | | | — | | | | — | | | | 1,308,871 | | | | 1,837,657 | |
| | — | | | | — | | | | — | | | | 22,421 | | | | — | | | | — | |
| | — | | | | — | | | | — | | | | 671,750 | | | | — | | | | — | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | 17,680 | |
| | 17,854 | | | | 23,418 | | | | 17,529 | | | | 19,996 | | | | 24,845 | | | | 19,503 | |
| | 16,734,338 | | | | 14,906,007 | | | | 3,063,653 | | | | 9,264,329 | | | | 217,756,560 | | | | 6,642,683 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 4,298,754 | | | | 4,092,365 | | | | 50,215 | | | | 152,468 | | | | 1,915,962 | | | | 19,094 | |
| | — | | | | — | | | | — | | | | 13,805 | | | | — | | | | — | |
| | 217,965 | | | | 745,383 | | | | 74,245 | | | | — | | | | 11,609,537 | | | | 38,689 | |
| | 8,319 | | | | 8,069 | | | | 298 | | | | 12,222 | | | | 141,014 | | | | 1,342 | |
| | 1,664 | | | | 1,614 | | | | 60 | | | | 2,445 | | | | 28,203 | | | | 269 | |
| | 407 | | | | 393 | | | | 95 | | | | 342 | | | | 6,895 | | | | 183 | |
| | 562 | | | | 138 | | | | 173 | | | | 434 | | | | 3,109 | | | | 509 | |
| | 6 | | | | 4 | | | | 1 | | | | 4 | | | | 62 | | | | 2 | |
| | 918 | | | | 765 | | | | 197 | | | | 1,079 | | | | 9,164 | | | | 385 | |
| | 532 | | | | 484 | | | | 117 | | | | 355 | | | | 8,494 | | | | 190 | |
| | 189 | | | | 78 | | | | 17 | | | | 70 | | | | 638 | | | | 27 | |
| | 58 | | | | 56 | | | | 13 | | | | 41 | | | | 975 | | | | 22 | |
| | 32,766 | | | | 14,115 | | | | 3,746 | | | | 35,947 | | | | 123,356 | | | | 3,484 | |
| | 4,562,140 | | | | 4,863,464 | | | | 129,177 | | | | 219,212 | | | | 13,847,409 | | | | 64,196 | |
| $ | 12,172,198 | | | $ | 10,042,543 | | | $ | 2,934,476 | | | $ | 9,045,117 | | | $ | 203,909,151 | | | $ | 6,578,487 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 8,909,812 | | | $ | 58,212,870 | | | $ | 6,849,146 | | | $ | 9,057,471 | | | $ | 166,416,850 | | | $ | 25,905,271 | |
| | 3,262,386 | | | | (48,170,327 | ) | | | (3,914,670 | ) | | | (12,354 | ) | | | 37,492,301 | | | | (19,326,784 | ) |
| $ | 12,172,198 | | | $ | 10,042,543 | | | $ | 2,934,476 | | | $ | 9,045,117 | | | $ | 203,909,151 | | | $ | 6,578,487 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 11,413,613 | | | $ | 9,891,429 | | | $ | 2,734,917 | | | $ | 8,915,681 | | | $ | 201,075,227 | | | $ | 5,991,426 | |
| | 758,585 | | | | 151,114 | | | | 199,559 | | | | 129,436 | | | | 2,833,924 | | | | 587,061 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 205,223 | | | | 331,601 | | | | 204,088 | | | | 303,312 | | | | 3,623,064 | | | | 207,373 | |
| | 14,284 | | | | 5,678 | | | | 15,940 | | | | 4,960 | | | | 66,756 | | | | 22,584 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 55.62 | | | $ | 29.83 | | | $ | 13.40 | | | $ | 29.39 | | | $ | 55.50 | | | $ | 28.89 | |
| | 53.11 | | | | 26.61 | | | | 12.52 | | | | 26.10 | | | | 42.45 | | | | 25.99 | |
| $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
See accompanying notes to the financial statements.
184 :: Statements of Assets and Liabilities ::January 31, 2020 (unaudited)
| | | Short
Oil & Gas
ProFund | | | Short
Precious
Metals
ProFund | | | Short
Real Estate
ProFund | | | Short
Small-Cap
ProFund | |
| ASSETS: | | | | | | | | | | | | | | | | |
| Total Investment Securities, at cost | | $ | 2,019,000 | | | $ | 1,394,000 | | | $ | 805,000 | | | $ | 2,178,000 | |
| Securities, at value(a) | | | — | | | | — | | | | — | | | | — | |
| Repurchase agreements, at value | | | 2,019,000 | | | | 1,394,000 | | | | 805,000 | | | | 2,178,000 | |
| Total Investment Securities, at value | | | 2,019,000 | | | | 1,394,000 | | | | 805,000 | | | | 2,178,000 | |
| Cash | | | 360 | | | | 415 | | | | 716 | | | | 256 | |
| Segregated cash balances for futures contracts with brokers | | | — | | | | — | | | | — | | | | 7,040 | |
| Segregated cash balances for swap agreements with custodian | | | — | | | | — | | | | — | | | | 958 | |
| Dividends and interest receivable | | | 82 | | | | 56 | | | | 33 | | | | 88 | |
| Receivable for investments sold | | | — | | | | — | | | | — | | | | — | |
| Receivable for capital shares issued | | | 524,857 | | | | 3,600 | | | | 2,147 | | | | 1,214,841 | |
| Receivable from broker for futures transactions | | | — | | | | — | | | | — | | | | — | |
| Due from Advisor under an expense limitation agreement | | | 528 | | | | 146 | | | | 3,413 | | | | 4,838 | |
| Unrealized appreciation on swap agreements | | | 157,959 | | | | — | | | | 14,085 | | | | 38,013 | |
| Variation margin on futures contracts | | | — | | | | — | | | | — | | | | 3,430 | |
| Prepaid expenses | | | 13,052 | | | | 22,373 | | | | 12,200 | | | | 24,658 | |
| TOTAL ASSETS | | | 2,715,838 | | | | 1,420,590 | | | | 837,594 | | | | 3,472,122 | |
| LIABILITIES: | | | | | | | | | | | | | | | | |
| Cash overdraft | | | — | | | | — | | | | — | | | | — | |
| Payable for investments purchased | | | — | | | | — | | | | — | | | | — | |
| Payable for collateral for securities loaned | | | — | | | | — | | | | — | | | | — | |
| Payable for capital shares redeemed | | | 1,261 | | | | 74,306 | | | | 19,663 | | | | 31,416 | |
| Unrealized depreciation on swap agreements | | | — | | | | 73,935 | | | | — | | | | — | |
| Variation margin on futures contracts | | | — | | | | — | | | | — | | | | — | |
| Advisory fees payable | | | — | | | | — | | | | — | | | | — | |
| Management services fees payable | | | — | | | | — | | | | — | | | | — | |
| Administration fees payable | | | 57 | | | | 81 | | | | 27 | | | | 62 | |
| Distribution and services fees payable—Service Class | | | 7 | | | | 18 | | | | 12 | | | | 26 | |
| Trustee fees payable | | | 1 | | | | 1 | | | | — | | | | — | |
| Transfer agency fees payable | | | 100 | | | | 173 | | | | 68 | | | | 178 | |
| Fund accounting fees payable | | | 70 | | | | 100 | | | | 34 | | | | 65 | |
| Compliance services fees payable | | | 12 | | | | 18 | | | | 5 | | | | 7 | |
| Service fees payable | | | 8 | | | | 12 | | | | 4 | | | | 7 | |
| Other accrued expenses | | | 4,800 | | | | 4,140 | | | | 497 | | | | 2,340 | |
| TOTAL LIABILITIES | | | 6,316 | | | | 152,784 | | | | 20,310 | | | | 34,101 | |
| NET ASSETS | | $ | 2,709,522 | | | $ | 1,267,806 | | | $ | 817,284 | | | $ | 3,438,021 | |
| NET ASSETS CONSIST OF: | | | | | | | | | | | | | | | | |
| Capital | | $ | 4,186,970 | | | $ | 11,427,720 | | | $ | 4,841,545 | | | $ | 15,576,169 | |
| Total distributable earnings (loss) | | | (1,477,448 | ) | | | (10,159,914 | ) | | | (4,024,261 | ) | | | (12,138,148 | ) |
| NET ASSETS | | $ | 2,709,522 | | | $ | 1,267,806 | | | $ | 817,284 | | | $ | 3,438,021 | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Investor Class | | $ | 2,704,727 | | | $ | 1,247,012 | | | $ | 802,993 | | | $ | 3,406,309 | |
| Service Class | | | 4,795 | | | | 20,794 | | | | 14,291 | | | | 31,712 | |
SHARES OF BENEFICIAL INTEREST OUTSTANDING
(unlimited number of shares authorized, no par value): | | |
| Investor Class | | | 52,377 | | | | 47,290 | | | | 67,151 | | | | 272,309 | |
| Service Class | | | 98 | | | | 797 | | | | 1,342 | | | | 2,626 | |
NET ASSET VALUE
(offering and redemption price per share): | | | | | | | | | | | | | | | | |
| Investor Class | | $ | 51.64 | | | $ | 26.37 | | | $ | 11.96 | | | $ | 12.51 | |
| Service Class | | | 48.93 | | | | 26.09 | | | | 10.65 | | | | 12.08 | |
| (a) Includes securities on loan valued at: | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
Amounts designated as “ – ” are $0 or have been rounded to $0.
See accompanying notes to the financial statements.
January 31, 2020 (unaudited):: Statements of Assets and Liabilities :: 185
Small-Cap
ProFund | | | Small-Cap
Growth
ProFund | | | Small-Cap
Value
ProFund | | | Technology
UltraSector
ProFund | | | Telecommunications
UltraSector
ProFund | | | U.S. Government
Plus
ProFund | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 3,196,092 | | | $ | 8,570,610 | | | $ | 4,592,372 | | | $ | 71,512,792 | | | $ | 973,034 | | | $ | 36,701,474 | |
| | 2,490,492 | | | | 11,203,469 | | | | 5,277,645 | | | | 70,682,478 | | | | 905,158 | | | | 13,145,466 | |
| | 1,680,000 | | | | 32,000 | | | | — | | | | 25,028,000 | | | | 312,000 | | | | 24,410,000 | |
| | 4,170,492 | | | | 11,235,469 | | | | 5,277,645 | | | | 95,710,478 | | | | 1,217,158 | | | | 37,555,466 | |
| | — | | | | 867 | | | | 554 | | | | — | | | | 245 | | | | 172 | |
| | 31,680 | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 194 | | | | — | | | | — | | | | 729 | | | | 95 | | | | — | |
| | 785 | | | | 1,632 | | | | 4,528 | | | | 9,450 | | | | 4,829 | | | | 62,670 | |
| | 3,145 | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 19,353 | | | | — | | | | 86 | | | | 1,427,702 | | | | 59,811 | | | | 816,781 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | — | | | | — | | | | — | | | | — | | | | 6,855 | | | | — | |
| | 27,438 | | | | — | | | | — | | | | — | | | | — | | | | 1,285,072 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 13,896 | | | | 12,499 | | | | 11,347 | | | | 30,841 | | | | 17,602 | | | | 32,391 | |
| | 4,266,983 | | | | 11,250,467 | | | | 5,294,160 | | | | 97,179,200 | | | | 1,306,595 | | | | 39,752,552 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 729 | | | | — | | | | — | | | | 134,733 | | | | — | | | | — | |
| | 706 | | | | 2,059 | | | | — | | | | — | | | | — | | | | — | |
| | 17,218 | | | | 58,404 | | | | 92,011 | | | | 44,308 | | | | 576 | | | | — | |
| | 184,150 | | | | 12,115 | | | | 9,463 | | | | 2,714,829 | | | | 22,288 | | | | 1,343,795 | |
| | 15,353 | | | | — | | | | — | | | | 2,514,878 | | | | 37,755 | | | | — | |
| | 15,435 | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 2,932 | | | | 7,288 | | | | 3,704 | | | | 61,671 | | | | — | | | | 9,122 | |
| | 586 | | | | 1,457 | | | | 741 | | | | 12,334 | | | | — | | | | 2,736 | |
| | 203 | | | | 422 | | | | 214 | | | | 3,023 | | | | 40 | | | | 797 | |
| | 340 | | | | 1,649 | | | | 346 | | | | 3,300 | | | | 50 | | | | 1,378 | |
| | 3 | | | | 4 | | | | 2 | | | | 27 | | | | — | | | | 7 | |
| | 552 | | | | 1,193 | | | | 752 | | | | 4,937 | | | | 82 | | | | 1,701 | |
| | 530 | | | | 531 | | | | 345 | | | | 3,762 | | | | 60 | | | | 827 | |
| | 36 | | | | 66 | | | | 52 | | | | 373 | | | | 7 | | | | 146 | |
| | 24 | | | | 50 | | | | 26 | | | | 428 | | | | 6 | | | | 95 | |
| | 13,018 | | | | 15,665 | | | | 11,664 | | | | 86,617 | | | | 847 | | | | 25,186 | |
| | 251,815 | | | | 100,903 | | | | 119,320 | | | | 5,585,220 | | | | 61,711 | | | | 1,385,790 | |
| $ | 4,015,168 | | | $ | 11,149,564 | | | $ | 5,174,840 | | | $ | 91,593,980 | | | $ | 1,244,884 | | | $ | 38,366,762 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 3,897,411 | | | $ | 11,880,070 | | | $ | 5,265,284 | | | $ | 73,021,569 | | | $ | 6,853,104 | | | $ | 37,259,174 | |
| | 117,757 | | | | (730,506 | ) | | | (90,444 | ) | | | 18,572,411 | | | | (5,608,220 | ) | | | 1,107,588 | |
| $ | 4,015,168 | | | $ | 11,149,564 | | | $ | 5,174,840 | | | $ | 91,593,980 | | | $ | 1,244,884 | | | $ | 38,366,762 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 3,643,810 | | | $ | 9,175,288 | | | $ | 4,789,668 | | | $ | 87,661,653 | | | $ | 1,188,484 | | | $ | 36,721,275 | |
| | 371,358 | | | | 1,974,276 | | | | 385,172 | | | | 3,932,327 | | | | 56,400 | | | | 1,645,487 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 41,926 | | | | 100,002 | | | | 61,077 | | | | 1,418,582 | | | | 57,079 | | | | 533,804 | |
| | 5,139 | | | | 26,517 | | | | 5,999 | | | | 76,457 | | | | 2,793 | | | | 26,020 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 86.91 | | | $ | 91.75 | | | $ | 78.42 | | | $ | 61.80 | | | $ | 20.82 | | | $ | 68.79 | |
| | 72.26 | | | | 74.45 | | | | 64.21 | | | | 51.43 | | | | 20.19 | | | | 63.24 | |
| $ | 15,906 | | | $ | 54,512 | | | $ | 84,940 | | | $ | 41,738 | | | $ | 542 | | | $ | — | |
See accompanying notes to the financial statements.
186 :: Statements of Assets and Liabilities ::January 31, 2020 (unaudited)
| | | UltraBear
ProFund | | | UltraBull
ProFund | | | UltraChina
ProFund | | | UltraDow 30
ProFund | |
| ASSETS: | | | | | | | | | | | | | | | | |
| Total Investment Securities, at cost | | $ | 9,163,000 | | | $ | 109,558,675 | | | $ | 13,744,242 | | | $ | 17,963,424 | |
| Securities, at value(a) | | | — | | | | 99,429,808 | | | | 15,288,636 | | | | 24,112,890 | |
| Repurchase agreements, at value | | | 9,163,000 | | | | 56,794,000 | | | | 3,914,000 | | | | 8,373,000 | |
| Total Investment Securities, at value | | | 9,163,000 | | | | 156,223,808 | | | | 19,202,636 | | | | 32,485,890 | |
| Cash | | | 418 | | | | — | | | | 753 | | | | 359 | |
| Segregated cash balances for futures contracts with brokers | | | 50,820 | | | | 1,488,300 | | | | — | | | | 260,150 | |
| Segregated cash balances for swap agreements with custodian | | | — | | | | — | | | | — | | | | — | |
| Dividends and interest receivable | | | 371 | | | | 97,704 | | | | 5,860 | | | | 20,408 | |
| Receivable for investments sold | | | — | | | | — | | | | — | | | | 2,005,163 | |
| Receivable for capital shares issued | | | 1,556,826 | | | | 8,594,021 | | | | 370,761 | | | | 509,904 | |
| Receivable from transfer agent | | | — | | | | — | | | | 148,194 | | | | — | |
| Unrealized appreciation on swap agreements | | | 81,761 | | | | 86,410 | | | | — | | | | — | |
| Variation margin on futures contracts | | | 23,520 | | | | — | | | | — | | | | — | |
| Prepaid expenses | | | 30,811 | | | | 38,134 | | | | 23,648 | | | | 15,831 | |
| Receivable for tax reclaims | | | — | | | | — | | | | 490 | | | | — | |
| TOTAL ASSETS | | | 10,907,527 | | | | 166,528,377 | | | | 19,752,342 | | | | 35,297,705 | |
| LIABILITIES: | | | | | | | | | | | | | | | | |
| Cash overdraft | | | — | | | | 50,297 | | | | — | | | | — | |
| Payable for investments purchased | | | — | | | | — | | | | 7,394 | | | | — | |
| Payable for collateral for securities loaned | | | — | | | | 47,872 | | | | 108,923 | | | | — | |
| Payable for capital shares redeemed | | | 1,032,033 | | | | 9,459,309 | | | | 823,652 | | | | 823,642 | |
| Unrealized depreciation on swap agreements | | | — | | | | 287,384 | | | | 502,970 | | | | 398,235 | |
| Variation margin on futures contracts | | | — | | | | 688,800 | | | | — | | | | 130,720 | |
| Advisory fees payable | | | 3,968 | | | | 97,238 | | | | 18,765 | | | | 22,836 | |
| Management services fees payable | | | 794 | | | | 19,448 | | | | 3,753 | | | | 4,567 | |
| Administration fees payable | | | 357 | | | | 5,640 | | | | 1,087 | | | | 1,324 | |
| Distribution and services fees payable—Service Class | | | 114 | | | | 1,406 | | | | 964 | | | | 727 | |
| Trustee fees payable | | | 4 | | | | 54 | | | | 8 | | | | 12 | |
| Transfer agency fees payable | | | 770 | | | | 7,903 | | | | 2,250 | | | | 2,421 | |
| Fund accounting fees payable | | | 370 | | | | 5,994 | | | | 1,141 | | | | 1,382 | |
| Compliance services fees payable | | | 59 | | | | 806 | | | | 122 | | | | 183 | |
| Service fees payable | | | 43 | | | | 673 | | | | 130 | | | | 158 | |
| Other accrued expenses | | | 5,092 | | | | 135,213 | | | | 28,577 | | | | 33,207 | |
| TOTAL LIABILITIES | | | 1,043,604 | | | | 10,808,037 | | | | 1,499,736 | | | | 1,419,414 | |
| NET ASSETS | | $ | 9,863,923 | | | $ | 155,720,340 | | | $ | 18,252,606 | | | $ | 33,878,291 | |
| NET ASSETS CONSIST OF: | | | | | | | | | | | | | | | | |
| Capital | | $ | 95,371,300 | | | $ | 105,843,439 | | | $ | 24,641,810 | | | $ | 17,861,143 | |
| Total distributable earnings (loss) | | | (85,507,377 | ) | | | 49,876,901 | | | | (6,389,204 | ) | | | 16,017,148 | |
| NET ASSETS | | $ | 9,863,923 | | | $ | 155,720,340 | | | $ | 18,252,606 | | | $ | 33,878,291 | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Investor Class | | $ | 9,727,541 | | | $ | 154,091,838 | | | $ | 17,783,297 | | | $ | 33,070,113 | |
| Service Class | | | 136,382 | | | | 1,628,502 | | | | 469,309 | | | | 808,178 | |
SHARES OF BENEFICIAL INTEREST OUTSTANDING
(unlimited number of shares authorized, no par value): | | | | | | | | | | | | | | | | |
| Investor Class | | | 609,451 | | | | 1,966,324 | | | | 1,381,949 | | | | 649,309 | |
| Service Class | | | 9,437 | | | | 25,070 | | | | 40,883 | | | | 18,163 | |
NET ASSET VALUE
(offering and redemption price per share): | | | | | | | | | | | | | | | | |
| Investor Class | | $ | 15.96 | | | $ | 78.37 | | | $ | 12.87 | | | $ | 50.93 | |
| Service Class | | | 14.45 | | | | 64.96 | | | | 11.48 | | | | 44.50 | |
| (a) Includes securities on loan valued at: | | $ | — | | | $ | 46,151 | | | $ | 96,875 | | | $ | — | |
Amounts designated as “ – ” are $0 or have been rounded to $0.
See accompanying notes to the financial statements.
January 31, 2020 (unaudited):: Statements of Assets and Liabilities :: 187
UltraEmerging
Markets
ProFund | | | UltraInternational
ProFund | | | UltraJapan
ProFund | | | UltraLatin
America
ProFund | | | UltraMid-Cap
ProFund | | | UltraNasdaq-100
ProFund | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 9,048,725 | | | $ | 2,650,000 | | | $ | 12,529,000 | | | $ | 18,278,225 | | | $ | 49,751,436 | | | $ | 379,881,547 | |
| | 12,247,048 | | | | — | | | | — | | | | 22,910,515 | | | | 46,541,646 | | | | 381,961,018 | |
| | 1,604,000 | | | | 2,650,000 | | | | 12,529,000 | | | | 3,212,000 | | | | 19,821,000 | | | | 242,662,000 | |
| | 13,851,048 | | | | 2,650,000 | | | | 12,529,000 | | | | 26,122,515 | | | | 66,362,646 | | | | 624,623,018 | |
| | 77 | | | | 631 | | | | 792 | | | | 2,764 | | | | 340 | | | | 12,184 | |
| | — | | | | — | | | | 1,329,570 | | | | — | | | | 651,750 | | | | 4,719,000 | |
| | — | | | | — | | | | — | | | | — | | | | 90 | | | | 306 | |
| | 52,746 | | | | 107 | | | | 507 | | | | 202,777 | | | | 32,576 | | | | 60,615 | |
| | 1,251,529 | | | | — | | | | — | | | | 500,693 | | | | — | | | | — | |
| | 223,004 | | | | 40,862 | | | | 52,592 | | | | 54,506 | | | | 996,055 | | | | 6,856,708 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | 3,462,937 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 30,531 | | | | 26,225 | | | | 21,910 | | | | 19,901 | | | | 27,114 | | | | 57,687 | |
| | 328 | | | | — | | | | — | | | | 2,324 | | | | — | | | | — | |
| | 15,409,263 | | | | 2,717,825 | | | | 13,934,371 | | | | 26,905,480 | | | | 68,070,571 | | | | 639,792,455 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | — | | | | — | | | | — | | | | — | | | | 11,482 | | | | — | |
| | — | | | | — | | | | — | | | | 386,175 | | | | 488,921 | | | | — | |
| | 1,125,658 | | | | 139,051 | | | | 32,176 | | | | 159,576 | | | | 250,768 | | | | 16,506,970 | |
| | 319,932 | | | | 35,817 | | | | 2,029 | | | | 691,384 | | | | 888,632 | | | | — | |
| | — | | | | — | | | | 610,386 | | | | — | | | | 318,750 | | | | 2,528,240 | |
| | 12,972 | | | | 563 | | | | 11,372 | | | | 21,510 | | | | 44,166 | | | | 397,023 | |
| | 2,594 | | | | 112 | | | | 1,895 | | | | 4,302 | | | | 8,833 | | | | 79,405 | |
| | 787 | | | | 129 | | | | 549 | | | | 1,240 | | | | 2,557 | | | | 23,069 | |
| | 223 | | | | 72 | | | | 191 | | | | 75 | | | | 690 | | | | 11,856 | |
| | 7 | | | | 2 | | | | 6 | | | | 11 | | | | 27 | | | | 192 | |
| | 1,660 | | | | 354 | | | | 1,330 | | | | 4,881 | | | | 3,332 | | | | 43,053 | |
| | 831 | | | | 159 | | | | 570 | | | | 1,297 | | | | 2,765 | | | | 23,978 | |
| | 78 | | | | 22 | | | | 90 | | | | 168 | | | | 409 | | | | 2,884 | |
| | 94 | | | | 18 | | | | 65 | | | | 148 | | | | 305 | | | | 2,753 | |
| | 21,448 | | | | (455 | ) | | | 16,275 | | | | 30,145 | | | | 64,856 | | | | 491,314 | |
| | 1,486,284 | | | | 175,844 | | | | 676,934 | | | | 1,300,912 | | | | 2,086,493 | | | | 20,110,737 | |
| $ | 13,922,979 | | | $ | 2,541,981 | | | $ | 13,257,437 | | | $ | 25,604,568 | | | $ | 65,984,078 | | | $ | 619,681,718 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 20,219,969 | | | $ | 3,017,290 | | | $ | 14,279,933 | | | $ | 45,901,118 | | | $ | 50,044,474 | | | $ | 334,059,924 | |
| | (6,296,990 | ) | | | (475,309 | ) | | | (1,022,496 | ) | | | (20,296,550 | ) | | | 15,939,604 | | | | 285,621,794 | |
| $ | 13,922,979 | | | $ | 2,541,981 | | | $ | 13,257,437 | | | $ | 25,604,568 | | | $ | 65,984,078 | | | $ | 619,681,718 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 13,563,818 | | | $ | 2,464,446 | | | $ | 13,057,146 | | | $ | 25,533,525 | | | $ | 65,276,424 | | | $ | 605,404,158 | |
| | 359,161 | | | | 77,535 | | | | 200,291 | | | | 71,043 | | | | 707,654 | | | | 14,277,560 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 236,007 | | | | 146,030 | | | | 530,546 | | | | 935,063 | | | | 1,465,590 | | | | 6,362,048 | |
| | 6,798 | | | | 5,164 | | | | 9,596 | | | | 2,677 | | | | 19,516 | | | | 188,538 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 57.47 | | | $ | 16.88 | | | $ | 24.61 | | | $ | 27.31 | | | $ | 44.54 | | | $ | 95.16 | |
| | 52.83 | | | | 15.01 | | | | 20.87 | | | | 26.54 | | | | 36.26 | | | | 75.73 | |
| $ | — | | | $ | — | | | $ | — | | | $ | 361,460 | | | $ | 468,520 | | | $ | — | |
See accompanying notes to the financial statements.
188 :: Statements of Assets and Liabilities ::January 31, 2020 (unaudited)
| | | UltraShort
China
ProFund | | | UltraShort
Dow 30
ProFund | | | UltraShort
Emerging
Markets
ProFund | | | UltraShort
International
ProFund | |
| ASSETS: | | | | | | | | | | | | | | | | |
| Total Investment Securities, at cost | | $ | 7,375,000 | | | $ | 4,033,000 | | | $ | 2,900,000 | | | $ | 2,681,000 | |
| Securities, at value | | | — | | | | — | | | | — | | | | — | |
| Repurchase agreements, at value | | | 7,375,000 | | | | 4,033,000 | | | | 2,900,000 | | | | 2,681,000 | |
| Total Investment Securities, at value | | | 7,375,000 | | | | 4,033,000 | | | | 2,900,000 | | | | 2,681,000 | |
| Cash | | | 279 | | | | 347 | | | | 374 | | | | 34 | |
| Segregated cash balances for futures contracts with brokers | | | — | | | | 42,350 | | | | — | | | | — | |
| Segregated cash balances for swap agreements with custodian | | | — | | | | — | | | | — | | | | — | |
| Dividends and interest receivable | | | 298 | | | | 163 | | | | 117 | | | | 108 | |
| Receivable for investments sold | | | — | | | | — | | | | — | | | | — | |
| Receivable for capital shares issued | | | 1,562,686 | | | | 138,203 | | | | 466,518 | | | | 231,266 | |
| Due from Advisor under an expense limitation agreement | | | 8,394 | | | | — | | | | 905 | | | | 1,196 | |
| Unrealized appreciation on swap agreements | | | 285,021 | | | | 62,298 | | | | 119,923 | | | | 41,309 | |
| Variation margin on futures contracts | | | — | | | | 21,280 | | | | — | | | | — | |
| Prepaid expenses | | | 22,100 | | | | 11,152 | | | | 23,042 | | | | 26,765 | |
| TOTAL ASSETS | | | 9,253,778 | | | | 4,308,793 | | | | 3,510,879 | | | | 2,981,678 | |
| LIABILITIES: | | | | | | | | | | | | | | | | |
| Cash overdraft | | | — | | | | — | | | | — | | | | — | |
| Payable for investments purchased | | | — | | | | — | | | | — | | | | — | |
| Payable for capital shares redeemed | | | 386,530 | | | | 75,212 | | | | 69,496 | | | | 122,473 | |
| Unrealized depreciation on swap agreements | | | — | | | | — | | | | — | | | | — | |
| Variation margin on futures contracts | | | — | | | | — | | | | — | | | | — | |
| Advisory fees payable | | | — | | | | 921 | | | | — | | | | — | |
| Management services fees payable | | | — | | | | 184 | | | | — | | | | — | |
| Administration fees payable | | | 96 | | | | 148 | | | | 68 | | | | 60 | |
| Distribution and services fees payable—Service Class | | | 35 | | | | 158 | | | | 64 | | | | 10 | |
| Trustee fees payable | | | 1 | | | | 1 | | | | 1 | | | | 1 | |
| Transfer agency fees payable | | | 224 | | | | 275 | | | | 202 | | | | 145 | |
| Fund accounting fees payable | | | 118 | | | | 153 | | | | 84 | | | | 74 | |
| Compliance services fees payable | | | 17 | | | | 23 | | | | 14 | | | | 11 | |
| Service fees payable | | | 14 | | | | 18 | | | | 10 | | | | 9 | |
| Other accrued expenses | | | 8,637 | | | | 3,299 | | | | 2,135 | | | | 2,700 | |
| TOTAL LIABILITIES | | | 395,672 | | | | 80,392 | | | | 72,074 | | | | 125,483 | |
| NET ASSETS | | $ | 8,858,106 | | | $ | 4,228,401 | | | $ | 3,438,805 | | | $ | 2,856,195 | |
| NET ASSETS CONSIST OF: | | | | | | | | | | | | | | | | |
| Capital | | $ | 14,358,460 | | | $ | 22,141,257 | | | $ | 14,898,687 | | | $ | 17,577,191 | |
| Total distributable earnings (loss) | | | (5,500,354 | ) | | | (17,912,856 | ) | | | (11,459,882 | ) | | | (14,720,996 | ) |
| NET ASSETS | | $ | 8,858,106 | | | $ | 4,228,401 | | | $ | 3,438,805 | | | $ | 2,856,195 | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Investor Class | | $ | 8,515,716 | | | $ | 3,994,407 | | | $ | 3,357,092 | | | $ | 2,844,093 | |
| Service Class | | | 342,389 | | | | 233,994 | | | | 81,713 | | | | 12,102 | |
SHARES OF BENEFICIAL INTEREST OUTSTANDING
(unlimited number of shares authorized, no par value): | | | | | | | | | | | | | | | | |
| Investor Class | | | 230,502 | | | | 303,792 | | | | 212,323 | | | | 238,930 | |
| Service Class | | | 10,370 | | | | 20,058 | | | | 5,643 | | | | 1,118 | |
NET ASSET VALUE
(offering and redemption price per share): | | | | | | | | | | | | | | | | |
| Investor Class | | $ | 36.94 | | | $ | 13.15 | | | $ | 15.81 | | | $ | 11.90 | |
| Service Class | | | 33.02 | | | | 11.67 | | | | 14.48 | | | | 10.82 | |
Amounts designated as “ – ” are $0 or have been rounded to $0.
See accompanying notes to the financial statements.
January 31, 2020 (unaudited):: Statements of Assets and Liabilities :: 189
UltraShort
Japan
ProFund | | | UltraShort
Latin
America
ProFund | | | UltraShort
Mid-Cap
ProFund | | | UltraShort
Nasdaq-100
ProFund | | | UltraShort
Small-Cap
ProFund | | | UltraSmall-Cap
ProFund | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 929,000 | | | $ | 4,018,000 | | | $ | 1,331,000 | | | $ | 14,423,000 | | | $ | 5,708,000 | | | $ | 34,449,226 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | 22,173,741 | |
| | 929,000 | | | | 4,018,000 | | | | 1,331,000 | | | | 14,423,000 | | | | 5,708,000 | | | | 18,689,000 | |
| | 929,000 | | | | 4,018,000 | | | | 1,331,000 | | | | 14,423,000 | | | | 5,708,000 | | | | 40,862,741 | |
| | 722 | | | | 532 | | | | 528 | | | | 875 | | | | 49 | | | | — | |
| | 95,370 | | | | — | | | | 8,690 | | | | 82,500 | | | | 14,080 | | | | 239,360 | |
| | — | | | | — | | | | — | | | | 278 | | | | 322 | | | | 1,476 | |
| | 38 | | | | 163 | | | | 54 | | | | 584 | | | | 231 | | | | 7,057 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | 31,460 | |
| | 181,845 | | | | 329,653 | | | | 5,231 | | | | 756,837 | | | | 618,952 | | | | 5,830,866 | |
| | 1,976 | | | | — | | | | 1,083 | | | | — | | | | — | | | | — | |
| | 2,026 | | | | 149,147 | | | | 35,893 | | | | — | | | | 205,336 | | | | — | |
| | 43,691 | | | | — | | | | 4,250 | | | | 44,200 | | | | 6,860 | | | | — | |
| | 21,780 | | | | 16,820 | | | | 19,236 | | | | 26,767 | | | | 23,915 | | | | 30,219 | |
| | 1,276,448 | | | | 4,514,315 | | | | 1,405,965 | | | | 15,335,041 | | | | 6,577,745 | | | | 47,003,179 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | 9,201 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | 6,408 | |
| | 85,112 | | | | 1,099,861 | | | | 13,161 | | | | 106,614 | | | | 615,775 | | | | 785,869 | |
| | — | | | | — | | | | — | | | | 303,919 | | | | — | | | | 916,840 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | 116,620 | |
| | — | | | | 538 | | | | — | | | | 9,295 | | | | 1,242 | | | | 28,634 | |
| | — | | | | 108 | | | | — | | | | 1,859 | | | | 249 | | | | 5,727 | |
| | 39 | | | | 108 | | | | 51 | | | | 538 | | | | 216 | | | | 1,658 | |
| | 2 | | | | 52 | | | | 16 | | | | 316 | | | | 163 | | | | 566 | |
| | — | | | | 1 | | | | 1 | | | | 5 | | | | 2 | | | | 21 | |
| | 95 | | | | 275 | | | | 108 | | | | 1,230 | | | | 540 | | | | 2,530 | |
| | 41 | | | | 133 | | | | 53 | | | | 558 | | | | 224 | | | | 2,041 | |
| | 5 | | | | 21 | | | | 9 | | | | 84 | | | | 29 | | | | 293 | |
| | 5 | | | | 15 | | | | 6 | | | | 64 | | | | 26 | | | | 198 | |
| | 479 | | | | 3,907 | | | | (77 | ) | | | 15,301 | | | | 4,505 | | | | 80,856 | |
| | 85,778 | | | | 1,105,019 | | | | 13,328 | | | | 439,783 | | | | 622,971 | | | | 1,957,462 | |
| $ | 1,190,670 | | | $ | 3,409,296 | | | $ | 1,392,637 | | | $ | 14,895,258 | | | $ | 5,954,774 | | | $ | 45,045,717 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 11,683,001 | | | $ | 17,297,435 | | | $ | 9,389,495 | | | $ | 74,946,987 | | | $ | 47,528,334 | | | $ | 36,459,971 | |
| | (10,492,331 | ) | | | (13,888,139 | ) | | | (7,996,858 | ) | | | (60,051,729 | ) | | | (41,573,560 | ) | | | 8,585,746 | |
| $ | 1,190,670 | | | $ | 3,409,296 | | | $ | 1,392,637 | | | $ | 14,895,258 | | | $ | 5,954,774 | | | $ | 45,045,717 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 1,187,311 | | | $ | 3,356,695 | | | $ | 1,372,498 | | | $ | 14,450,721 | | | $ | 5,749,052 | | | $ | 44,653,133 | |
| | 3,359 | | | | 52,601 | | | | 20,139 | | | | 444,537 | | | | 205,722 | | | | 392,584 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 43,437 | | | | 117,097 | | | | 74,827 | | | | 1,543,609 | | | | 204,358 | | | | 747,126 | |
| | 136 | | | | 2,064 | | | | 1,228 | | | | 49,461 | | | | 7,814 | | | | 7,991 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 27.33 | | | $ | 28.67 | | | $ | 18.34 | | | $ | 9.36 | | | $ | 28.13 | | | $ | 59.77 | |
| | 24.70 | | | | 25.48 | | | | 16.40 | | | | 8.99 | | | | 26.33 | | | | 49.13 | |
See accompanying notes to the financial statements.
190 :: Statements of Assets and Liabilities ::January 31, 2020 (unaudited)
| | | Utilities
UltraSector
ProFund | |
| ASSETS: | | | | |
| Total Investment Securities, at cost | | $ | 30,452,063 | |
| Securities, at value | | | 27,681,711 | |
| Repurchase agreements, at value | | | 10,761,000 | |
| Total Investment Securities, at value | | | 38,442,711 | |
| Cash | | | 288 | |
| Segregated cash balances for swap agreements with custodian | | | 104 | |
| Dividends and interest receivable | | | 10,295 | |
| Receivable for capital shares issued | | | 353,622 | |
| Unrealized appreciation on swap agreements | | | 261,003 | |
| Prepaid expenses | | | 27,516 | |
| TOTAL ASSETS | | | 39,095,539 | |
| LIABILITIES: | | | | |
| Payable for capital shares redeemed | | | 2,780,837 | |
| Advisory fees payable | | | 18,182 | |
| Management services fees payable | | | 3,636 | |
| Administration fees payable | | | 892 | |
| Distribution and services fees payable—Service Class | | | 1,079 | |
| Trustee fees payable | | | 13 | |
| Transfer agency fees payable | | | 1,455 | |
| Fund accounting fees payable | | | 1,111 | |
| Compliance services fees payable | | | 192 | |
| Service fees payable | | | 126 | |
| Other accrued expenses | | | 38,710 | |
| TOTAL LIABILITIES | | | 2,846,233 | |
| NET ASSETS | | $ | 36,249,306 | |
| NET ASSETS CONSIST OF: | | | | |
| Capital | | $ | 33,061,907 | |
| Total distributable earnings (loss) | | | 3,187,399 | |
| NET ASSETS | | $ | 36,249,306 | |
| NET ASSETS: | | | | |
| Investor Class | | $ | 34,871,741 | |
| Service Class | | | 1,377,565 | |
SHARES OF BENEFICIAL INTEREST OUTSTANDING
(unlimited number of shares authorized, no par value): | | | | |
| Investor Class | | | 532,745 | |
| Service Class | | | 22,491 | |
NET ASSET VALUE
(offering and redemption price per share): | | | | |
| Investor Class | | $ | 65.46 | |
| Service Class | | | 61.25 | |
See accompanying notes to the financial statements.
Statements of Operations
192 :: Statements of Operations ::For the Periods Indicated (unaudited)
| | | Banks
UltraSector
ProFund | | | Basic Materials
UltraSector
ProFund | | | Bear ProFund | | | Biotechnology
UltraSector
ProFund | |
| | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | |
| INVESTMENT INCOME: | | | | | | | | | | | | | | | | |
| Dividends | | $ | 325,375 | | | $ | 33,821 | | | $ | — | | | $ | 1,131,982 | |
| Interest | | | 54,207 | | | | 8,805 | | | | 144,007 | | | | 320,006 | |
| Foreign tax withholding | | | — | | | | — | | | | — | | | | — | |
| Income from securities lending | | | — | | | | 31 | | | | — | | | | 1,608 | |
| TOTAL INVESTMENT INCOME | | | 379,582 | | | | 42,657 | | | | 144,007 | | | | 1,453,596 | |
| EXPENSES: | | | | | | | | | | | | | | | | |
| Advisory fees | | | 108,665 | | | | 16,475 | | | | 63,131 | | | | 657,653 | |
| Management services fees | | | 21,733 | | | | 3,295 | | | | 12,626 | | | | 131,531 | |
| Administration fees | | | 13,017 | | | | 1,870 | | | | 7,260 | | | | 78,801 | |
| Distribution and services fees—Service Class | | | 3,020 | | | | 1,774 | | | | 2,455 | | | | 30,476 | |
| Transfer agency fees | | | 7,638 | | | | 1,771 | | | | 4,418 | | | | 42,807 | |
| Administrative services fees | | | 46,926 | | | | 5,709 | | | | 24,725 | | | | 318,704 | |
| Registration and filing fees | | | 15,757 | | | | 15,539 | | | | 32,859 | | | | 23,112 | |
| Custody fees | | | 2,267 | | | | 298 | | | | 1,197 | | | | 13,080 | |
| Fund accounting fees | | | 7,517 | | | | 1,094 | | | | 3,934 | | | | 43,555 | |
| Trustee fees | | | 358 | | | | 69 | | | | 269 | | | | 2,784 | |
| Compliance services fees | | | 179 | | | | 29 | | | | 109 | | | | 1,197 | |
| Service fees | | | 764 | | | | 109 | | | | 420 | | | | 4,682 | |
| Other fees | | | 18,751 | | | | 3,477 | | | | 8,050 | | | | 98,250 | |
| Total Gross Expenses before reductions | | | 246,592 | | | | 51,509 | | | | 161,453 | | | | 1,446,632 | |
| Expenses reduced and reimbursed by the Advisor | | | — | | | | (8,144 | ) | | | — | | | | — | |
| TOTAL NET EXPENSES | | | 246,592 | | | | 43,365 | | | | 161,453 | | | | 1,446,632 | |
| NET INVESTMENT INCOME (LOSS) | | | 132,990 | | | | (708 | ) | | | (17,446 | ) | | | 6,964 | |
| REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS: | | | | | | | | | | | | | | | | |
| Net realized gains (losses) on investment securities | | | 1,444,545 | | | | 59,977 | | | | — | | | | 14,178,388 | |
| Net realized gains (losses) on futures contracts | | | — | | | | — | | | | (185,952 | ) | | | — | |
| Net realized gains (losses) on swap agreements | | | 2,436,386 | | | | (95,822 | ) | | | (1,041,182 | ) | | | 15,253,213 | |
| Net realized gains (losses) on forward currency contracts | | | — | | | | — | | | | — | | | | — | |
| Change in net unrealized appreciation/depreciation on investment securities | | | 334,277 | | | | (180,050 | ) | | | — | | | | (4,704,948 | ) |
| Change in net unrealized appreciation/depreciation on futures contracts | | | — | | | | — | | | | 28,084 | | | | — | |
| Change in net unrealized appreciation/depreciation on swap agreements | | | (715,627 | ) | | | (28,089 | ) | | | (168,324 | ) | | | (6,463,453 | ) |
| Change in net unrealized appreciation/depreciation on forward currency contracts | | | — | | | | — | | | | — | | | | — | |
| NET REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS | | | 3,499,581 | | | | (243,984 | ) | | | (1,367,374 | ) | | | 18,263,200 | |
| CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | | $ | 3,632,571 | | | $ | (244,692 | ) | | $ | (1,384,820 | ) | | $ | 18,270,164 | |
Amounts designated as “ – ” are $0 or have been rounded to $0.
See accompanying notes to the financial statements.
For the Periods Indicated (unaudited):: Statements of Operations :: 193
Bull
ProFund | | | Communication
Services
UltraSector
ProFund | | | Consumer
Goods
UltraSector
ProFund | | | Consumer
Services
UltraSector
ProFund | | | Europe 30
ProFund | | | Falling
U.S. Dollar
ProFund | |
Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 460,892 | | | $ | 30,541 | | | $ | 55,762 | | | $ | 256,322 | | | $ | 99,579 | | | $ | — | |
| | 182,311 | | | | 15,999 | | | | 12,475 | | | | 111,644 | | | | 56 | | | | 8,936 | |
| | — | | | | — | | | | — | | | | — | | | | (9,175 | ) | | | — | |
| | 144 | | | | — | | | | 21 | | | | 978 | | | | 618 | | | | — | |
| | 643,347 | | | | 46,540 | | | | 68,258 | | | | 368,944 | | | | 91,078 | | | | 8,936 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 255,419 | | | | 30,494 | | | | 22,031 | | | | 209,193 | | | | 22,600 | | | | 3,952 | |
| | 51,084 | | | | 6,099 | | | | 4,406 | | | | 41,839 | | | | 4,520 | | | | 790 | |
| | 31,285 | | | | 5,726 | | | | 2,718 | | | | 25,107 | | | | 3,089 | | | | 697 | |
| | 25,604 | | | | 818 | | | | 2,465 | | | | 8,297 | | | | 1,175 | | | | 387 | |
| | 30,036 | | | | 4,072 | | | | 1,857 | | | | 13,396 | | | | 4,411 | | | | 705 | |
| | 93,672 | | | | 20,389 | | | | 9,125 | | | | 103,566 | | | | 4,081 | | | | 1,901 | |
| | 35,786 | | | | 25,241 | | | | 15,190 | | | | 21,541 | | | | 15,113 | | | | 25,758 | |
| | 5,428 | | | | 984 | | | | 455 | | | | 4,346 | | | | 3,765 | | | | 11,380 | |
| | 18,001 | | | | 3,173 | | | | 1,637 | | | | 14,054 | | | | 1,667 | | | | 385 | |
| | 1,110 | | | | 213 | | | | 95 | | | | 986 | | | | 122 | | | | 25 | |
| | 490 | | | | 43 | | | | 41 | | | | 417 | | | | 40 | | | | 9 | |
| | 1,847 | | | | 332 | | | | 162 | | | | 1,473 | | | | 170 | | | | 42 | |
| | 33,252 | | | | 12,362 | | | | 4,255 | | | | 29,599 | | | | 3,615 | | | | 1,610 | |
| | 583,014 | | | | 109,946 | | | | 64,437 | | | | 473,814 | | | | 64,368 | | | | 47,641 | |
| | — | | | | (18,942 | ) | | | (9,683 | ) | | | — | | | | (9,555 | ) | | | (37,876 | ) |
| | 583,014 | | | | 91,004 | | | | 54,754 | | | | 473,814 | | | | 54,813 | | | | 9,765 | |
| | 60,333 | | | | (44,464 | ) | | | 13,504 | | | | (104,870 | ) | | | 36,265 | | | | (829 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 626,775 | | | | 3,549 | | | | 179,130 | | | | (1,367,717 | ) | | | (1,214,031 | ) | | | — | |
| | 935,505 | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 968,774 | | | | 602,432 | | | | 378,800 | | | | (932,238 | ) | | | — | | | | — | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | 2,905 | |
| | 3,763,966 | | | | 272,955 | | | | 160,441 | | | | 1,530,486 | | | | (2,016 | ) | | | — | |
| | (248,511 | ) | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 145,258 | | | | (371,304 | ) | | | (76,881 | ) | | | 728,463 | | | | — | | | | — | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | 13,513 | |
| | 6,191,767 | | | | 507,632 | | | | 641,490 | | | | (41,006 | ) | | | (1,216,047 | ) | | | 16,418 | |
| $ | 6,252,100 | | | $ | 463,168 | | | $ | 654,994 | | | $ | (145,876 | ) | | $ | (1,179,782 | ) | | $ | 15,589 | |
See accompanying notes to the financial statements.
194 :: Statements of Operations ::For the Periods Indicated (unaudited)
| | | Financials
UltraSector
ProFund | | | Health Care
UltraSector
ProFund | | | Industrials
UltraSector
ProFund | | | Internet
UltraSector
ProFund | |
| | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | |
| INVESTMENT INCOME: | | | | | | | | | | | | | | | | |
| Dividends | | $ | 223,635 | | | $ | 132,025 | | | $ | 74,616 | | | $ | 454,987 | |
| Interest | | | 51,923 | | | | 40,792 | | | | 20,658 | | | | 342,957 | |
| Foreign tax withholding | | | — | | | | — | | | | — | | | | — | |
| Income from securities lending | | | 10 | | | | 390 | | | | 32 | | | | 848 | |
| TOTAL INVESTMENT INCOME | | | 275,568 | | | | 173,207 | | | | 95,306 | | | | 798,792 | |
| EXPENSES: | | | | | | | | | | | | | | | | |
| Advisory fees | | | 89,303 | | | | 74,509 | | | | 39,729 | | | | 656,993 | |
| Management services fees | | | 17,861 | | | | 14,902 | | | | 7,946 | | | | 131,399 | |
| Administration fees | | | 12,835 | | | | 9,324 | | | | 4,468 | | | | 80,679 | |
| Distribution and services fees—Service Class | | | 3,352 | | | | 7,000 | | | | 3,484 | | | | 40,023 | |
| Transfer agency fees | | | 6,386 | | | | 6,406 | | | | 3,108 | | | | 46,612 | |
| Administrative services fees | | | 39,014 | | | | 33,436 | | | | 17,437 | | | | 303,795 | |
| Registration and filing fees | | | 22,356 | | | | 23,837 | | | | 21,900 | | | | 31,289 | |
| Custody fees | | | 2,036 | | | | 1,645 | | | | 800 | | | | 13,557 | |
| Fund accounting fees | | | 6,990 | | | | 5,300 | | | | 2,810 | | | | 43,820 | |
| Trustee fees | | | 555 | | | | 329 | | | | 158 | | | | 3,029 | |
| Compliance services fees | | | 194 | | | | 122 | | | | 64 | | | | 1,193 | |
| Service fees | | | 647 | | | | 577 | | | | 265 | | | | 4,691 | |
| Other fees | | | 12,682 | | | | 13,108 | | | | 6,747 | | | | 95,104 | |
| Recoupment of prior expenses reduced by the Advisor | | | — | | | | — | | | | — | | | | — | |
| Total Gross Expenses before reductions | | | 214,211 | | | | 190,495 | | | | 108,916 | | | | 1,452,184 | |
| Expenses reduced and reimbursed by the Advisor | | | — | | | | — | | | | (4,041 | ) | | | — | |
| TOTAL NET EXPENSES | | | 214,211 | | | | 190,495 | | | | 104,875 | | | | 1,452,184 | |
| NET INVESTMENT INCOME (LOSS) | | | 61,357 | | | | (17,288 | ) | | | (9,569 | ) | | | (653,392 | ) |
| REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS: | | | | | | | | | | | | | | | | |
| Net realized gains (losses) on investment securities | | | 603,213 | | | | 1,042,572 | | | | 16,381 | | | | 10,505,627 | |
| Net realized gains (losses) on futures contracts | | | — | | | | — | | | | — | | | | — | |
| Net realized gains (losses) on swap agreements | | | 580,779 | | | | 1,954,362 | | | | 511,941 | | | | (3,143,545 | ) |
| Change in net unrealized appreciation/depreciation on investment securities | | | (405,350 | ) | | | (372,797 | ) | | | 313,397 | | | | (14,967,903 | ) |
| Change in net unrealized appreciation/depreciation on futures contracts | | | — | | | | — | | | | — | | | | — | |
| Change in net unrealized appreciation/depreciation on swap agreements | | | (243,359 | ) | | | (1,395,656 | ) | | | (223,191 | ) | | | (2,141,296 | ) |
| NET REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS | | | 535,283 | | | | 1,228,481 | | | | 618,528 | | | | (9,747,117 | ) |
| CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | | $ | 596,640 | | | $ | 1,211,193 | | | $ | 608,959 | | | $ | (10,400,509 | ) |
Amounts designated as “ – ” are $0 or have been rounded to $0.
See accompanying notes to the financial statements.
For the Periods Indicated (unaudited):: Statements of Operations :: 195
Large-Cap
Growth
ProFund | | | Large-Cap
Value
ProFund | | | Mid-Cap
ProFund | | | Mid-Cap
Growth
ProFund | | | Mid-Cap
Value
ProFund | | | Nasdaq-100
ProFund | |
Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 185,849 | | | $ | 275,021 | | | $ | 52,414 | | | $ | 61,196 | | | $ | 72,485 | | | $ | 310,332 | |
| | 147 | | | | 262 | | | | 20,812 | | | | 152 | | | | 35 | | | | 320,433 | |
| | — | | | | — | | | | (20 | ) | | | (67 | ) | | | (26 | ) | | | (230 | ) |
| | 49 | | | | 7 | | | | 262 | | | | 110 | | | | 628 | | | | 149 | |
| | 186,045 | | | | 275,290 | | | | 73,468 | | | | 61,391 | | | | 73,122 | | | | 630,684 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 89,832 | | | | 81,606 | | | | 30,441 | | | | 36,422 | | | | 23,431 | | | | 342,192 | |
| | 17,967 | | | | 16,321 | | | | 6,088 | | | | 7,284 | | | | 4,686 | | | | 73,327 | |
| | 11,855 | | | | 9,291 | | | | 4,578 | | | | 4,471 | | | | 2,655 | | | | 43,980 | |
| | 17,670 | | | | 7,717 | | | | 4,107 | | | | 9,192 | | | | 2,852 | | | | 32,831 | |
| | 13,465 | | | | 8,129 | | | | 3,442 | | | | 5,168 | | | | 3,974 | | | | 40,104 | |
| | 26,847 | | | | 31,299 | | | | 15,177 | | | | 10,079 | | | | 4,347 | | | | 129,796 | |
| | 24,605 | | | | 15,431 | | | | 16,176 | | | | 15,143 | | | | 14,989 | | | | 28,030 | |
| | 3,115 | | | | 2,121 | | | | 793 | | | | 1,011 | | | | 765 | | | | 7,904 | |
| | 7,015 | | | | 5,814 | | | | 3,298 | | | | 2,848 | | | | 1,949 | | | | 24,347 | |
| | 436 | | | | 310 | | | | 158 | | | | 181 | | | | 95 | | | | 1,580 | |
| | 193 | | | | 146 | | | | 56 | | | | 61 | | | | 35 | | | | 695 | |
| | 687 | | | | 570 | | | | 276 | | | | 257 | | | | 155 | | | | 2,609 | |
| | 12,794 | | | | 10,620 | | | | 6,040 | | | | 5,305 | | | | 3,930 | | | | 63,088 | |
| | — | | | | 4,105 | | | | — | | | | — | | | | — | | | | — | |
| | 226,481 | | | | 193,480 | | | | 90,630 | | | | 97,422 | | | | 63,863 | | | | 790,483 | |
| | — | | | | — | | | | — | | | | — | | | | (5,401 | ) | | | — | |
| | 226,481 | | | | 193,480 | | | | 90,630 | | | | 97,422 | | | | 58,462 | | | | 790,483 | |
| | (40,436 | ) | | | 81,810 | | | | (17,162 | ) | | | (36,031 | ) | | | 14,660 | | | | (159,799 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 3,724,380 | | | | 1,183,686 | | | | 439,748 | | | | 1,046,990 | | | | 625,541 | | | | 580,621 | |
| | — | | | | — | | | | 78,739 | | | | — | | | | — | | | | 2,015,980 | |
| | — | | | | — | | | | (94,071 | ) | | | — | | | | — | | | | 3,045,069 | |
| | (850,458 | ) | | | 340,975 | | | | (332,758 | ) | | | (1,060,931 | ) | | | (506,934 | ) | | | 7,747,502 | |
| | — | | | | — | | | | (57,568 | ) | | | — | | | | — | | | | (340,277 | ) |
| | — | | | | — | | | | (15,809 | ) | | | — | | | | — | | | | 517,785 | |
| | 2,873,922 | | | | 1,524,661 | | | | 18,281 | | | | (13,941 | ) | | | 118,607 | | | | 13,566,680 | |
| $ | 2,833,486 | | | $ | 1,606,471 | | | $ | 1,119 | | | $ | (49,972 | ) | | $ | 133,267 | | | $ | 13,406,881 | |
See accompanying notes to the financial statements.
196 :: Statements of Operations ::For the Periods Indicated (unaudited)
| | | Oil & Gas
UltraSector
ProFund | | | Oil
Equipment &
Services
UltraSector
ProFund | | | Pharmaceuticals
UltraSector
ProFund | | | Precious
Metals
UltraSector
ProFund | |
| | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | |
| INVESTMENT INCOME: | | | | | | | | | | | | | | | | |
| Dividends | | $ | 190,310 | | | $ | 43,998 | | | $ | 33,068 | | | $ | 118,959 | |
| Interest | | | 26,664 | | | | 15,124 | | | | 8,863 | | | | 77,490 | |
| Foreign tax withholding | | | (59 | ) | | | (508 | ) | | | — | | | | (11,830 | ) |
| Income from securities lending | | | 30 | | | | 629 | | | | 793 | | | | 1,088 | |
| TOTAL INVESTMENT INCOME | | | 216,945 | | | | 59,243 | | | | 42,724 | | | | 185,707 | |
| EXPENSES: | | | | | | | | | | | | | | | | |
| Advisory fees | | | 47,222 | | | | 23,200 | | | | 16,836 | | | | 136,449 | |
| Management services fees | | | 9,444 | | | | 4,640 | | | | 3,367 | | | | 27,290 | |
| Administration fees | | | 5,664 | | | | 2,551 | | | | 2,242 | | | | 16,602 | |
| Distribution and services fees—Service Class | | | 3,151 | | | | 1,921 | | | | 2,844 | | | | 11,202 | |
| Transfer agency fees | | | 4,277 | | | | 1,879 | | | | 2,054 | | | | 14,422 | |
| Administrative services fees | | | 20,622 | | | | 9,818 | | | | 7,274 | | | | 48,752 | |
| Registration and filing fees | | | 16,063 | | | | 15,571 | | | | 15,359 | | | | 21,752 | |
| Custody fees | | | 1,220 | | | | 768 | | | | 402 | | | | 3,546 | |
| Fund accounting fees | | | 3,187 | | | | 1,465 | | | | 1,308 | | | | 9,153 | |
| Trustee fees | | | 206 | | | | 91 | | | | 82 | | | | 587 | |
| Compliance services fees | | | 81 | | | | 38 | | | | 34 | | | | 259 | |
| Service fees | | | 331 | | | | 150 | | | | 133 | | | | 983 | |
| Other fees | | | 7,890 | | | | 4,465 | | | | 4,116 | | | | 20,250 | |
| Total Gross Expenses before reductions | | | 119,358 | | | | 66,557 | | | | 56,051 | | | | 311,247 | |
| Expenses reduced and reimbursed by the Advisor | | | — | | | | (4,999 | ) | | | (10,871 | ) | | | — | |
| TOTAL NET EXPENSES | | | 119,358 | | | | 61,558 | | | | 45,180 | | | | 311,247 | |
| NET INVESTMENT INCOME (LOSS) | | | 97,587 | | | | (2,315 | ) | | | (2,456 | ) | | | (125,540 | ) |
| REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS: | | | | | | | | | | | | | | | | |
| Net realized gains (losses) on investment securities | | | 226,669 | | | | (1,259,863 | ) | | | 44,063 | | | | (462,031 | ) |
| Net realized gains (losses) on futures contracts | | | — | | | | — | | | | — | | | | — | |
| Net realized gains (losses) on swap agreements | | | (669,933 | ) | | | (1,050,617 | ) | | | 376,760 | | | | 1,333,514 | |
| Net realized gains (losses) on forward currency contracts | | | — | | | | — | | | | — | | | | — | |
| Change in net unrealized appreciation/depreciation on investment securities | | | (1,468,357 | ) | | | (19,723 | ) | | | 275,393 | | | | 4,210,949 | |
| Change in net unrealized appreciation/depreciation on futures contracts | | | — | | | | — | | | | — | | | | — | |
| Change in net unrealized appreciation/depreciation on swap agreements | | | (494,805 | ) | | | (305,268 | ) | | | (59,209 | ) | | | 1,930,542 | |
| Change in net unrealized appreciation/depreciation on forward currency contracts | | | — | | | | — | | | | — | | | | — | |
| NET REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS | | | (2,406,426 | ) | | | (2,635,471 | ) | | | 637,007 | | | | 7,012,974 | |
| CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | | $ | (2,308,839 | ) | | $ | (2,637,786 | ) | | $ | 634,551 | | | $ | 6,887,434 | |
Amounts designated as “ – ” are $0 or have been rounded to $0.
See accompanying notes to the financial statements.
For the Periods Indicated (unaudited):: Statements of Operations :: 197
Real Estate
UltraSector
ProFund | | | Rising Rates
Opportunity
ProFund | | | Rising Rates
Opportunity 10
ProFund | | | Rising
U.S. Dollar
ProFund | | | Semiconductor
UltraSector
ProFund | | | Short
Nasdaq-100
ProFund | |
Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 415,905 | | | $ | — | | | $ | — | | | $ | — | | | $ | 724,148 | | | $ | — | |
| | 68,876 | | | | 122,672 | | | | 26,476 | | | | 102,994 | | | | 218,737 | | | | 48,152 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 62 | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 484,843 | | | | 122,672 | | | | 26,476 | | | | 102,994 | | | | 942,885 | | | | 48,152 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 122,332 | | | | 52,775 | | | | 11,839 | | | | 47,288 | | | | 406,743 | | | | 20,972 | |
| | 24,467 | | | | 10,555 | | | | 2,368 | | | | 9,458 | | | | 81,349 | | | | 4,195 | |
| | 15,667 | | | | 5,714 | | | | 1,367 | | | | 5,351 | | | | 40,183 | | | | 2,511 | |
| | 4,788 | | | | 3,877 | | | | 1,255 | | | | 5,534 | | | | 13,876 | | | | 2,587 | |
| | 9,857 | | | | 4,480 | | | | 1,132 | | | | 6,565 | | | | 21,469 | | | | 2,138 | |
| | 54,315 | | | | 21,123 | | | | 5,137 | | | | 11,330 | | | | 178,844 | | | | 7,747 | |
| | 23,233 | | | | 18,773 | | | | 14,918 | | | | 16,248 | | | | 24,418 | | | | 16,504 | |
| | 2,627 | | | | 1,627 | | | | 219 | | | | 12,066 | | | | 7,381 | | | | 404 | |
| | 8,747 | | | | 3,404 | | | | 814 | | | | 2,872 | | | | 22,904 | | | | 1,329 | |
| | 558 | | | | 259 | | | | 53 | | | | 197 | | | | 1,310 | | | | 92 | |
| | 231 | | | | 78 | | | | 18 | | | | 77 | | | | 671 | | | | 36 | |
| | 867 | | | | 362 | | | | 87 | | | | 303 | | | | 2,561 | | | | 142 | |
| | 18,957 | | | | 7,476 | | | | 2,393 | | | | 16,423 | | | | 55,076 | | | | 4,098 | |
| | 286,646 | | | | 130,503 | | | | 41,600 | | | | 133,712 | | | | 856,785 | | | | 62,755 | |
| | — | | | | — | | | | (10,475 | ) | | | (15,946 | ) | | | — | | | | (10,394 | ) |
| | 286,646 | | | | 130,503 | | | | 31,125 | | | | 117,766 | | | | 856,785 | | | | 52,361 | |
| | 198,197 | | | | (7,831 | ) | | | (4,649 | ) | | | (14,772 | ) | | | 86,100 | | | | (4,209 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 1,438,371 | | | | — | | | | — | | | | — | | | | (346,135 | ) | | | — | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | (84,183 | ) |
| | 1,002,164 | | | | (3,129,328 | ) | | | (86,458 | ) | | | — | | | | 22,078,429 | | | | (294,553 | ) |
| | — | | | | — | | | | — | | | | 104,641 | | | | — | | | | — | |
| | (878,050 | ) | | | — | | | | — | | | | — | | | | 10,555,572 | | | | — | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | 2,783 | |
| | (331,124 | ) | | | (107,788 | ) | | | (54,980 | ) | | | — | | | | (10,551,343 | ) | | | (127,680 | ) |
| | — | | | | — | | | | — | | | | (160,639 | ) | | | — | | | | — | |
| | 1,231,361 | | | | (3,237,116 | ) | | | (141,438 | ) | | | (55,998 | ) | | | 21,736,523 | | | | (503,633 | ) |
| $ | 1,429,558 | | | $ | (3,244,947 | ) | | $ | (146,087 | ) | | $ | (70,770 | ) | | $ | 21,822,623 | | | $ | (507,842 | ) |
See accompanying notes to the financial statements.
198 :: Statements of Operations ::For the Periods Indicated (unaudited)
| | | Short
Oil & Gas
ProFund | | | Short
Precious
Metals
ProFund | | | Short
Real Estate
ProFund | | | Short
Small-Cap
ProFund | |
| | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | |
| INVESTMENT INCOME: | | | | | | | | | | | | | | | | |
| Dividends | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
| Interest | | | 18,728 | | | | 32,770 | | | | 7,239 | | | | 15,481 | |
| Foreign tax withholding | | | — | | | | — | | | | — | | | | — | |
| Income from securities lending | | | — | | | | — | | | | — | | | | — | |
| TOTAL INVESTMENT INCOME | | | 18,728 | | | | 32,770 | | | | 7,239 | | | | 15,481 | |
| EXPENSES: | | | | | | | | | | | | | | | | |
| Advisory fees | | | 8,115 | | | | 13,960 | | | | 3,276 | | | | 6,638 | |
| Management services fees | | | 1,623 | | | | 2,792 | | | | 655 | | | | 1,328 | |
| Administration fees | | | 1,153 | | | | 1,534 | | | | 286 | | | | 904 | |
| Distribution and services fees—Service Class | | | 30 | | | | 185 | | | | 74 | | | | 208 | |
| Transfer agency fees | | | 847 | | | | 1,068 | | | | 271 | | | | 991 | |
| Administrative services fees | | | 4,076 | | | | 5,308 | | | | 999 | | | | 2,122 | |
| Registration and filing fees | | | 15,973 | | | | 18,837 | | | | 14,937 | | | | 20,676 | |
| Custody fees | | | 203 | | | | 266 | | | | 46 | | | | 133 | |
| Fund accounting fees | | | 681 | | | | 883 | | | | 171 | | | | 474 | |
| Trustee fees | | | 46 | | | | 67 | | | | 11 | | | | 33 | |
| Compliance services fees | | | 20 | | | | 21 | | | | 5 | | | | 13 | |
| Service fees | | | 74 | | | | 92 | | | | 18 | | | | 52 | |
| Other fees | | | 2,675 | | | | 3,161 | | | | 1,311 | | | | 2,038 | |
| Total Gross Expenses before reductions | | | 35,516 | | | | 48,174 | | | | 22,060 | | | | 35,610 | |
| Expenses reduced and reimbursed by the Advisor | | | (16,228 | ) | | | (14,858 | ) | | | (14,210 | ) | | | (19,647 | ) |
| TOTAL NET EXPENSES | | | 19,288 | | | | 33,316 | | | | 7,850 | | | | 15,963 | |
| NET INVESTMENT INCOME (LOSS) | | | (560 | ) | | | (546 | ) | | | (611 | ) | | | (482 | ) |
| REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS: | | | | | | | | | | | | | | | | |
| Net realized gains (losses) on investment securities | | | — | | | | — | | | | — | | | | — | |
| Net realized gains (losses) on futures contracts | | | — | | | | — | | | | — | | | | (27,814 | ) |
| Net realized gains (losses) on swap agreements | | | (58,596 | ) | | | (1,035,416 | ) | | | (90,413 | ) | | | (139,186 | ) |
| Change in net unrealized appreciation/depreciation on investment securities | | | — | | | | — | | | | — | | | | — | |
| Change in net unrealized appreciation/depreciation on futures contracts | | | — | | | | — | | | | — | | | | 11,040 | |
| Change in net unrealized appreciation/depreciation on swap agreements | | | 133,913 | | | | (249,585 | ) | | | 22,438 | | | | 41,521 | |
| NET REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS | | | 75,317 | | | | (1,285,001 | ) | | | (67,975 | ) | | | (114,439 | ) |
| CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | | $ | 74,757 | | | $ | (1,285,547 | ) | | $ | (68,586 | ) | | $ | (114,921 | ) |
Amounts designated as “ – ” are $0 or have been rounded to $0.
See accompanying notes to the financial statements.
For the Periods Indicated (unaudited):: Statements of Operations :: 199
Small-Cap
ProFund | | | Small-Cap
Growth
ProFund | | | Small-Cap
Value
ProFund | | | Technology
UltraSector
ProFund | | | Telecommunications
UltraSector
ProFund | | | U.S. Government
Plus
ProFund | |
Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 20,537 | | | $ | 42,075 | | | $ | 92,730 | | | $ | 248,641 | | | $ | 14,474 | | | $ | — | |
| | 28,048 | | | | 92 | | | | 33 | | | | 138,512 | | | | 2,699 | | | | 283,343 | |
| | (10 | ) | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 487 | | | | 989 | | | | 1,341 | | | | 421 | | | | 18 | | | | 199 | |
| | 49,062 | | | | 43,156 | | | | 94,104 | | | | 387,574 | | | | 17,191 | | | | 283,542 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 22,895 | | | | 46,939 | | | | 30,219 | | | | 246,886 | | | | 5,059 | | | | 73,767 | |
| | 4,579 | | | | 9,388 | | | | 6,044 | | | | 49,378 | | | | 1,012 | | | | 22,130 | |
| | 2,916 | | | | 6,388 | | | | 4,476 | | | | 28,829 | | | | 489 | | | | 12,922 | |
| | 2,004 | | | | 7,746 | | | | 2,326 | | | | 14,241 | | | | 315 | | | | 14,027 | |
| | 3,387 | | | | 7,347 | | | | 6,304 | | | | 18,381 | | | | 363 | | | | 11,981 | |
| | 6,980 | | | | 14,620 | | | | 7,972 | | | | 103,809 | | | | 1,898 | | | | 33,854 | |
| | 17,579 | | | | 15,948 | | | | 14,847 | | | | 40,057 | | | | 22,762 | | | | 27,083 | |
| | 485 | | | | 1,620 | | | | 1,383 | | | | 5,138 | | | | 131 | | | | 1,570 | |
| | 4,088 | | | | 4,139 | | | | 3,615 | | | | 16,267 | | | | 323 | | | | 6,879 | |
| | 113 | | | | 227 | | | | 155 | | | | 1,037 | | | | 19 | | | | 476 | |
| | 36 | | | | 80 | | | | 69 | | | | 519 | | | | 8 | | | | 210 | |
| | 169 | | | | 370 | | | | 261 | | | | 1,766 | | | | 28 | | | | 745 | |
| | 5,546 | | | | 7,526 | | | | 6,132 | | | | 36,356 | | | | 1,744 | | | | 11,903 | |
| | 70,777 | | | | 122,338 | | | | 83,803 | | | | 562,664 | | | | 34,151 | | | | 217,547 | |
| | (3,869 | ) | | | — | | | | — | | | | — | | | | (21,830 | ) | | | — | |
| | 66,908 | | | | 122,338 | | | | 83,803 | | | | 562,664 | | | | 12,321 | | | | 217,547 | |
| | (17,846 | ) | | | (79,182 | ) | | | 10,301 | | | | (175,090 | ) | | | 4,870 | | | | 65,995 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 13,186 | | | | 741,860 | | | | (339,315 | ) | | | 285,728 | | | | 33,911 | | | | 1,218,845 | |
| | (19,490 | ) | | | — | | | | — | | | | — | | | | — | | | | — | |
| | (31,489 | ) | | | — | | | | — | | | | 8,428,488 | | | | 4,495 | | | | 1,979,318 | |
| | (39,732 | ) | | | (435,538 | ) | | | (710,961 | ) | | | 5,914,431 | | | | (58,575 | ) | | | 143,023 | |
| | (94,040 | ) | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 8,552 | | | | — | | | | — | | | | (2,041,593 | ) | | | (28,312 | ) | | | 1,001,856 | |
| | (163,013 | ) | | | 306,322 | | | | (1,050,276 | ) | | | 12,587,054 | | | | (48,481 | ) | | | 4,343,042 | |
| $ | (180,859 | ) | | $ | 227,140 | | | $ | (1,039,975 | ) | | $ | 12,411,964 | | | $ | (43,611 | ) | | $ | 4,409,037 | |
See accompanying notes to the financial statements.
200 :: Statements of Operations ::For the Periods Indicated (unaudited)
| | | UltraBear
ProFund | | | UltraBull
ProFund | | | UltraChina
ProFund | | | UltraDow 30
ProFund | |
| | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | |
| INVESTMENT INCOME: | | | | | | | | | | | | | | | | |
| Dividends | | $ | — | | | $ | 929,448 | | | $ | 125,829 | | | $ | 305,678 | |
| Interest | | | 96,480 | | | | 415,998 | | | | 25,549 | | | | 65,448 | |
| Foreign tax withholding | | | — | | | | — | | | | (7,476 | ) | | | — | |
| Income from securities lending | | | — | | | | 523 | | | | 13,495 | | | | — | |
| TOTAL INVESTMENT INCOME | | | 96,480 | | | | 1,345,969 | | | | 157,397 | | | | 371,126 | |
| EXPENSES: | | | | | | | | | | | | | | | | |
| Advisory fees | | | 41,625 | | | | 538,915 | | | | 87,626 | | | | 126,025 | |
| Management services fees | | | 8,325 | | | | 107,784 | | | | 17,525 | | | | 25,205 | |
| Administration fees | | | 4,682 | | | | 64,264 | | | | 10,841 | | | | 15,013 | |
| Distribution and services fees—Service Class | | | 806 | | | | 7,455 | | | | 3,960 | | | | 3,878 | |
| Transfer agency fees | | | 4,122 | | | | 40,691 | | | | 9,387 | | | | 12,014 | |
| Administrative services fees | | | 14,669 | | | | 227,817 | | | | 36,236 | | | | 52,280 | |
| Registration and filing fees | | | 28,023 | | | | 36,393 | | | | 17,703 | | | | 22,120 | |
| Custody fees | | | 766 | | | | 11,233 | | | | 9,419 | | | | 2,673 | |
| Fund accounting fees | | | 2,514 | | | | 36,293 | | | | 6,066 | | | | 8,279 | |
| Trustee fees | | | 169 | | | | 2,321 | | | | 377 | | | | 540 | |
| Compliance services fees | | | 70 | | | | 1,028 | | | | 153 | | | | 233 | |
| Service fees | | | 267 | | | | 3,824 | | | | 640 | | | | 888 | |
| Other fees | | | 6,136 | | | | 69,592 | | | | 13,058 | | | | 21,095 | |
| Total Gross Expenses before reductions | | | 112,174 | | | | 1,147,610 | | | | 212,991 | | | | 290,243 | |
| Expenses reduced and reimbursed by the Advisor | | | (12,577 | ) | | | — | | | | — | | | | — | |
| TOTAL NET EXPENSES | | | 99,597 | | | | 1,147,610 | | | | 212,991 | | | | 290,243 | |
| NET INVESTMENT INCOME (LOSS) | | | (3,117 | ) | | | 198,359 | | | | (55,594 | ) | | | 80,883 | |
| REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS: | | | | | | | | | | | | | | | | |
| Net realized gains (losses) on investment securities | | | — | | | | (1,768,857 | ) | | | 569,494 | | | | 601,581 | |
| Net realized gains (losses) on futures contracts | | | (147,389 | ) | | | 968,031 | | | | — | | | | 499,260 | |
| Net realized gains (losses) on swap agreements | | | (2,003,495 | ) | | | 5,941,537 | | | | 1,712,119 | | | | 1,047,274 | |
| Change in net unrealized appreciation/depreciation on investment securities | | | — | | | | 7,151,660 | | | | 832,479 | | | | 685,234 | |
| Change in net unrealized appreciation/depreciation on futures contracts | | | (14,284 | ) | | | (517,693 | ) | | | — | | | | (260,420 | ) |
| Change in net unrealized appreciation/depreciation on swap agreements | | | (133,572 | ) | | | 2,147,342 | | | | (57,175 | ) | | | 224,197 | |
| NET REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS | | | (2,298,740 | ) | | | 13,922,020 | | | | 3,056,917 | | | | 2,797,126 | |
| CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | | $ | (2,301,857 | ) | | $ | 14,120,379 | | | $ | 3,001,323 | | | $ | 2,878,009 | |
(a) Amount includes $116,765 related to certain nonrecurring litigation settlements.
(b) Amount includes $170,113 related to certain nonrecurring litigation settlements.
Amounts designated as “ – ” are $0 or have been rounded to $0.
See accompanying notes to the financial statements.
For the Periods Indicated (unaudited):: Statements of Operations :: 201
UltraEmerging
Markets
ProFund | | | UltraInternational
ProFund | | | UltraJapan
ProFund | | | UltraLatin
America
ProFund | | | UltraMid-Cap
ProFund | | | UltraNasdaq-100
ProFund | |
Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 158,319 | | | $ | — | | | $ | — | | | $ | 548,076 | | | $ | 482,561 | | | $ | 1,682,196 | |
| | 16,114 | | | | 38,388 | | | | 126,718 | | | | 38,360 | | | | 181,996 | | | | 1,670,800 | |
| | (20,516 | ) | | | — | | | | — | | | | (45,343 | ) | | | (215 | ) | | | (1,273 | ) |
| | 18 | | | | — | | | | — | | | | 504 | | | | 4,648 | | | | 1,158 | |
| | 153,935 | | | | 38,388 | | | | 126,718 | | | | 541,597 | | | | 668,990 | | | | 3,352,881 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 54,478 | | | | 17,918 | | | | 74,203 | | | | 113,050 | | | | 275,866 | | | | 1,996,907 | |
| | 10,896 | | | | 3,584 | | | | 12,367 | | | | 22,610 | | | | 55,173 | | | | 399,384 | |
| | 6,512 | | | | 1,413 | | | | 7,690 | | | | 14,470 | | | | 32,843 | | | | 228,514 | |
| | 1,144 | | | | 367 | | | | 1,140 | | | | 614 | | | | 3,714 | | | | 60,125 | |
| | 6,182 | | | | 1,298 | | | | 7,930 | | | | 24,774 | | | | 18,525 | | | | 190,186 | |
| | 21,675 | | | | 4,753 | | | | 21,135 | | | | 15,380 | | | | 131,591 | | | | 764,329 | |
| | 20,992 | | | | 17,438 | | | | 18,962 | | | | 18,116 | | | | 22,640 | | | | 54,788 | |
| | 4,100 | | | | 238 | | | | 1,452 | | | | 16,626 | | | | 5,602 | | | | 39,672 | |
| | 3,900 | | | | 848 | | | | 4,244 | | | | 8,040 | | | | 18,691 | | | | 125,852 | |
| | 229 | | | | 47 | | | | 264 | | | | 519 | | | | 1,186 | | | | 8,046 | |
| | 96 | | | | 22 | | | | 114 | | | | 219 | | | | 496 | | | | 3,590 | |
| | 414 | | | | 89 | | | | 452 | | | | 854 | | | | 1,925 | | | | 13,674 | |
| | 9,362 | | | | 2,353 | | | | 8,612 | | | | 15,221 | | | | 36,139 | | | | 332,805 | |
| | 139,980 | | | | 50,368 | | | | 158,565 | | | | 250,493 | | | | 604,391 | | | | 4,217,872 | |
| | (1,271 | ) | | | (4,718 | ) | | | — | | | | — | | | | — | | | | — | |
| | 138,709 | | | | 45,650 | | | | 158,565 | | | | 250,493 | | | | 604,391 | | | | 4,217,872 | |
| | 15,226 | | | | (7,262 | ) | | | (31,847 | ) | | | 291,104 | | | | 64,599 | | | | (864,991 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 228,388 | | | | — | | | | — | | | | (954,085 | ) | | | 443,863 | | | | 2,785,904 | |
| | — | | | | — | | | | 3,547,665 | | | | — | | | | 1,112,757 | | | | 10,497,221 | |
| | 614,058 | | | | 479,703 | | | | 15,400 | | | | (3,217,520 | ) | | | 877,702 | | | | 63,068,172 | |
| | 368,125 | (a) | | | — | | | | — | | | | (1,142,516 | )(b) | | | 616,084 | | | | 43,237,872 | |
| | — | | | | — | | | | (1,222,820 | ) | | | — | | | | (996,167 | ) | | | 2,727,290 | |
| | 26,744 | | | | 63,542 | | | | (806 | ) | | | 337,042 | | | | (518,753 | ) | | | 15,342,213 | |
| | 1,237,315 | | | | 543,245 | | | | 2,339,439 | | | | (4,977,079 | ) | | | 1,535,486 | | | | 137,658,672 | |
| $ | 1,252,541 | | | $ | 535,983 | | | $ | 2,307,592 | | | $ | (4,685,975 | ) | | $ | 1,600,085 | | | $ | 136,793,681 | |
See accompanying notes to the financial statements.
202 :: Statements of Operations ::For the Periods Indicated (unaudited)
| | | UltraShort
China
ProFund | | | UltraShort
Dow 30
ProFund | | | UltraShort
Emerging
Markets
ProFund | | | UltraShort
International
ProFund | |
| | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | |
| INVESTMENT INCOME: | | | | | | | | | | | | | | | | |
| Dividends | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
| Interest | | | 30,455 | | | | 36,382 | | | | 22,798 | | | | 19,564 | |
| Foreign tax withholding | | | — | | | | — | | | | — | | | | — | |
| TOTAL INVESTMENT INCOME | | | 30,455 | | | | 36,382 | | | | 22,798 | | | | 19,564 | |
| EXPENSES: | | | | | | | | | | | | | | | | |
| Advisory fees | | | 12,773 | | | | 15,951 | | | | 9,416 | | | | 8,430 | |
| Management services fees | | | 2,555 | | | | 3,190 | | | | 1,883 | | | | 1,686 | |
| Administration fees | | | 2,172 | | | | 1,922 | | | | 1,238 | | | | 1,084 | |
| Distribution and services fees—Service Class | | | 233 | | | | 876 | | | | 457 | | | | 64 | |
| Transfer agency fees | | | 2,074 | | | | 1,510 | | | | 1,336 | | | | 1,019 | |
| Administrative services fees | | | 7,828 | | | | 6,738 | | | | 3,655 | | | | 3,420 | |
| Registration and filing fees | | | 17,856 | | | | 16,106 | | | | 15,446 | | | | 19,234 | |
| Custody fees | | | 388 | | | | 318 | | | | 367 | | | | 221 | |
| Fund accounting fees | | | 1,278 | | | | 1,042 | | | | 689 | | | | 637 | |
| Trustee fees | | | 89 | | | | 70 | | | | 48 | | | | 44 | |
| Compliance services fees | | | 39 | | | | 28 | | | | 21 | | | | 13 | |
| Service fees | | | 142 | | | | 112 | | | | 75 | | | | 69 | |
| Other fees | | | 2,728 | | | | 3,304 | | | | 1,889 | | | | 1,904 | |
| Total Gross Expenses before reductions | | | 50,155 | | | | 51,167 | | | | 36,520 | | | | 37,825 | |
| Expenses reduced and reimbursed by the Advisor | | | (19,609 | ) | | | (12,433 | ) | | | (13,715 | ) | | | (17,755 | ) |
| TOTAL NET EXPENSES | | | 30,546 | | | | 38,734 | | | | 22,805 | | | | 20,070 | |
| NET INVESTMENT INCOME (LOSS) | | | (91 | ) | | | (2,352 | ) | | | (7 | ) | | | (506 | ) |
| REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS: | | | | | | | | | | | | | | | | |
| Net realized gains (losses) on investment securities | | | — | | | | — | | | | — | | | | — | |
| Net realized gains (losses) on futures contracts | | | — | | | | (52,056 | ) | | | — | | | | — | |
| Net realized gains (losses) on swap agreements | | | (206,708 | ) | | | (404,043 | ) | | | (309,911 | ) | | | (247,992 | ) |
| Change in net unrealized appreciation/depreciation on investment securities | | | — | | | | — | | | | — | | | | — | |
| Change in net unrealized appreciation/depreciation on futures contracts | | | — | | | | 4,578 | | | | — | | | | — | |
| Change in net unrealized appreciation/depreciation on swap agreements | | | 166,235 | | | | (40,421 | ) | | | 15,176 | | | | (26,564 | ) |
| NET REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS | | | (40,473 | ) | | | (491,942 | ) | | | (294,735 | ) | | | (274,556 | ) |
| CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | | $ | (40,564 | ) | | $ | (494,294 | ) | | $ | (294,742 | ) | | $ | (275,062 | ) |
Amounts designated as “ – ” are $0 or have been rounded to $0.
See accompanying notes to the financial statements.
For the Periods Indicated (unaudited):: Statements of Operations :: 203
UltraShort
Japan
ProFund | | | UltraShort
Latin
America
ProFund | | | UltraShort
Mid-Cap
ProFund | | | UltraShort
Nasdaq-100
ProFund | | | UltraShort
Small-Cap
ProFund | | | UltraSmall-Cap
ProFund | |
Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | | | Six Months
Ended
January 31,
2020 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 224,651 | |
| | 9,064 | | | | 34,638 | | | | 13,757 | | | | 149,631 | | | | 47,438 | | | | 188,600 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | (136 | ) |
| | 9,064 | | | | 34,638 | | | | 13,757 | | | | 149,631 | | | | 47,438 | | | | 413,115 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 5,256 | | | | 14,642 | | | | 6,015 | | | | 62,551 | | | | 20,621 | | | | 186,598 | |
| | 876 | | | | 2,928 | | | | 1,203 | | | | 12,510 | | | | 4,124 | | | | 37,320 | |
| | 571 | | | | 1,771 | | | | 625 | | | | 7,762 | | | | 2,117 | | | | 22,492 | |
| | 20 | | | | 443 | | | | 86 | | | | 2,341 | | | | 1,304 | | | | 2,706 | |
| | 554 | | | | 1,735 | | | | 553 | | | | 7,451 | | | | 2,237 | | | | 14,816 | |
| | 1,476 | | | | 6,033 | | | | 2,042 | | | | 21,948 | | | | 5,866 | | | | 83,681 | |
| | 14,995 | | | | 17,570 | | | | 15,291 | | | | 24,281 | | | | 20,570 | | | | 27,603 | |
| | 82 | | | | 342 | | | | 95 | | | | 1,261 | | | | 331 | | | | 4,102 | |
| | 304 | | | | 1,050 | | | | 340 | | | | 4,113 | | | | 1,150 | | | | 14,674 | |
| | 20 | | | | 72 | | | | 22 | | | | 285 | | | | 76 | | | | 802 | |
| | 7 | | | | 28 | | | | 9 | | | | 105 | | | | 32 | | | | 346 | |
| | 33 | | | | 113 | | | | 36 | | | | 438 | | | | 124 | | | | 1,331 | |
| | 1,125 | | | | 2,606 | | | | 1,402 | | | | 11,174 | | | | 4,416 | | | | 44,471 | |
| | 25,319 | | | | 49,333 | | | | 27,719 | | | | 156,220 | | | | 62,968 | | | | 440,942 | |
| | (14,905 | ) | | | (14,139 | ) | | | (13,357 | ) | | | — | | | | (12,723 | ) | | | — | |
| | 10,414 | | | | 35,194 | | | | 14,362 | | | | 156,220 | | | | 50,245 | | | | 440,942 | |
| | (1,350 | ) | | | (556 | ) | | | (605 | ) | | | (6,589 | ) | | | (2,807 | ) | | | (27,827 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | (526,449 | ) |
| | (334,513 | ) | | | — | | | | (13,141 | ) | | | (128,539 | ) | | | (89,854 | ) | | | (12,589 | ) |
| | (15,550 | ) | | | 335,317 | | | | (185,611 | ) | | | (4,462,149 | ) | | | (506,374 | ) | | | 2,295,739 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | 1,501,627 | |
| | 70,884 | | | | — | | | | 9,601 | | | | (65,874 | ) | | | 32,258 | | | | (148,857 | ) |
| | 804 | | | | (100,957 | ) | | | 27,549 | | | | (778,640 | ) | | | 247,067 | | | | (1,007,424 | ) |
| | (278,375 | ) | | | 234,360 | | | | (161,602 | ) | | | (5,435,202 | ) | | | (316,903 | ) | | | 2,102,047 | |
| $ | (279,725 | ) | | $ | 233,804 | | | $ | (162,207 | ) | | $ | (5,441,791 | ) | | $ | (319,710 | ) | | $ | 2,074,220 | |
See accompanying notes to the financial statements.
204 :: Statements of Operations ::For the Periods Indicated (unaudited)
| | | Utilities
UltraSector
ProFund | | |
| | | Six Months
Ended | | |
| | | January 31,
2020 | | |
| INVESTMENT INCOME: | | |
| Dividends | | $ | 735,989 | | |
| Interest | | | 148,852 | | |
| TOTAL INVESTMENT INCOME | | | 884,841 | | |
| EXPENSES: | | |
| Advisory fees | | | 251,376 | |
| Management services fees | | | 50,275 | |
| Administration fees | | | 31,547 | |
| Distribution and services fees—Service Class | | | 6,210 | |
| Transfer agency fees | | | 15,606 | |
| Administrative services fees | | | 121,145 | |
| Registration and filing fees | | | 27,953 | |
| Custody fees | | | 5,027 | |
| Fund accounting fees | | | 16,194 | |
| Trustee fees | | | 1,033 | |
| Compliance services fees | | | 326 | |
| Service fees | | | 1,664 | |
| Other fees | | | 32,919 | |
| TOTAL NET EXPENSES | | | 561,275 | | |
| NET INVESTMENT INCOME (LOSS) | | | 323,566 | | |
| REALIZED AND UNREALIZED GAINS (LOSSES)ON INVESTMENTS: | | | | | |
| Net realized gains (losses) on investment securities | | | (2,039,100 | ) | |
| Net realized gains (losses) on swap agreements | | | (175,352 | ) | |
| Change in net unrealized appreciation/depreciation on investment securities | | | 2,557,468 | | |
| Change in net unrealized appreciation/depreciation on swap agreements | | | 382,572 | | |
| NET REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS | | | 725,588 | | |
| CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | | $ | 1,049,154 | | |
See accompanying notes to the financial statements.
Statements of Changes in Net Assets
206 :: Statements of Changes in Net Assets ::For the Periods Indicated
| | | Banks UltraSector ProFund | | | Basic Materials
UltraSector ProFund | |
| | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | |
| FROM INVESTMENT ACTIVITIES: |
| OPERATIONS: |
| Net investment income (loss) | | $ | 132,990 | | | $ | 96,131 | | | $ | (708 | ) | | $ | 7,275 | |
| Net realized gains (losses) on investments | | | 3,880,931 | | | | 802,183 | | | | (35,845 | ) | | | 277,339 | |
| Change in net unrealized appreciation/depreciation on investments | | | (381,350 | ) | | | (2,408,451 | ) | | | (208,139 | ) | | | (1,639,602 | ) |
| Change in net assets resulting from operations | | | 3,632,571 | | | | (1,510,137 | ) | | | (244,692 | ) | | | (1,354,988 | ) |
| DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions | | | | | | | | | | | | | | | | |
| Investor Class | | | (147,431 | ) | | | (119,956 | ) | | | — | | | | — | |
| Service Class | | | — | | | | — | | | | — | | | | — | |
| Change in net assets resulting from distributions | | | (147,431 | ) | | | (119,956 | ) | | | — | | | | — | |
| Change in net assets resulting from capital transactions | | | (2,723,345 | ) | | | (7,967,796 | ) | | | (941,575 | ) | | | (1,719,940 | ) |
| Change in net assets | | | 761,795 | | | | (9,597,889 | ) | | | (1,186,267 | ) | | | (3,074,928 | ) |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of period | | | 10,252,998 | | | | 19,850,887 | | | | 4,953,702 | | | | 8,028,630 | |
| End of period | | $ | 11,014,793 | | | $ | 10,252,998 | | | $ | 3,767,435 | | | $ | 4,953,702 | |
| CAPITAL TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | $ | 53,645,614 | | | $ | 45,520,786 | | | $ | 7,658,215 | | | $ | 19,396,570 | |
| Distributions reinvested | | | 146,808 | | | | 118,207 | | | | — | | | | — | |
| Value of shares redeemed | | | (56,226,607 | ) | | | (53,485,074 | ) | | | (8,615,750 | ) | | | (20,919,000 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | | 646,902 | | | | 611,010 | | | | 252,015 | | | | 177,231 | |
| Distributions reinvested | | | — | | | | — | | | | — | | | | — | |
| Value of shares redeemed | | | (936,062 | ) | | | (732,725 | ) | | | (236,055 | ) | | | (374,741 | ) |
| Change in net assets resulting from capital transactions | | $ | (2,723,345 | ) | | $ | (7,967,796 | ) | | $ | (941,575 | ) | | $ | (1,719,940 | ) |
| SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Issued | | | 1,040,285 | | | | 962,536 | | | | 122,105 | | | | 299,007 | |
| Reinvested | | | 2,470 | | | | 3,114 | | | | — | | | | — | |
| Redeemed | | | (1,033,777 | ) | | | (1,121,876 | ) | | | (137,725 | ) | | | (326,539 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Issued | | | 13,454 | | | | 13,531 | | | | 4,309 | | | | 3,095 | |
| Reinvested | | | — | | | | — | | | | — | | | | — | |
| Redeemed | | | (19,756 | ) | | | (16,106 | ) | | | (4,127 | ) | | | (6,546 | ) |
| Change in shares | | | 2,676 | | | | (158,801 | ) | | | (15,438 | ) | | | (30,983 | ) |
(a) As described in Note 9, share amounts have been adjusted for 3:1 share split that occurred on November 18, 2019.
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to the financial statements.
For the Periods Indicated:: Statements of Changes in Net Assets :: 207
| Bear ProFund | | | Biotechnology UltraSector ProFund | | | Bull ProFund | |
Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | |
| $ | (17,446 | ) | | $ | 74,167 | | | $ | 6,964 | | | $ | 336,543 | | | $ | 60,333 | | | $ | 287,996 | |
| | (1,227,134 | ) | | | (2,277,594 | ) | | | 29,431,601 | | | | 1,291,579 | | | | 2,531,054 | | | | 2,761,571 | |
| | (140,240 | ) | | | 211,726 | | | | (11,168,401 | ) | | | (40,448,054 | ) | | | 3,660,713 | | | | 1,469,292 | |
| | (1,384,820 | ) | | | (1,991,701 | ) | | | 18,270,164 | | | | (38,819,932 | ) | | | 6,252,100 | | | | 4,518,859 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | (43,064 | ) | | | — | | | | (6,194,963 | ) | | | (9,871,740 | ) | | | (1,066,094 | ) | | | (347,252 | ) |
| | — | | | | — | | | | (282,054 | ) | | | (433,870 | ) | | | (91,696 | ) | | | (32,113 | ) |
| | (43,064 | ) | | | — | | | | (6,477,017 | ) | | | (10,305,610 | ) | | | (1,157,790 | ) | | | (379,365 | ) |
| | (3,733,998 | ) | | | 8,691,232 | | | | (10,895,707 | ) | | | (38,766,085 | ) | | | (3,470,363 | ) | | | 9,462,993 | |
| | (5,161,882 | ) | | | 6,699,531 | | | | 897,440 | | | | (87,891,627 | ) | | | 1,623,947 | | | | 13,602,487 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 20,148,858 | | | | 13,449,327 | | | | 167,529,379 | | | | 255,421,006 | | | | 65,352,874 | | | | 51,750,387 | |
| $ | 14,986,976 | | | $ | 20,148,858 | | | $ | 168,426,819 | | | $ | 167,529,379 | | | $ | 66,976,821 | | | $ | 65,352,874 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 41,537,871 | | | $ | 130,516,432 | | | $ | 71,122,544 | | | $ | 127,727,925 | | | $ | 165,231,938 | | | $ | 444,081,567 | |
| | 39,530 | | | | — | | | | 6,111,625 | | | | 9,731,885 | | | | 1,046,364 | | | | 338,692 | |
| | (45,274,583 | ) | | | (122,036,606 | ) | | | (88,094,205 | ) | | | (174,554,820 | ) | | | (169,707,990 | ) | | | (434,540,818 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 2,024,878 | | | | 4,983,412 | | | | 2,211,525 | | | | 4,172,644 | | | | 25,393,609 | | | | 56,888,989 | |
| | — | | | | — | | | | 281,086 | | | | 431,729 | | | | 61,683 | | | | 31,763 | |
| | (2,061,694 | ) | | | (4,772,006 | ) | | | (2,528,282 | ) | | | (6,275,448 | ) | | | (25,495,967 | ) | | | (57,337,200 | ) |
| $ | (3,733,998 | ) | | $ | 8,691,232 | | | $ | (10,895,707 | ) | | $ | (38,766,085 | ) | | $ | (3,470,363 | ) | | $ | 9,462,993 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 1,518,767 | | | | 4,239,965 | | | | 1,200,803 | | | | 2,072,533 | | | | 3,617,316 | (a) | | | 10,481,205 | (a) |
| | 1,522 | | | | — | | | | 96,201 | | | | 192,520 | | | | 21,620 | (a) | | | 7,623 | (a) |
| | (1,652,299 | ) | | | (3,976,577 | ) | | | (1,531,172 | ) | | | (2,866,026 | ) | | | (3,691,514 | )(a) | | | (10,235,358 | )(a) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 79,780 | | | | 172,630 | | | | 48,564 | | | | 83,253 | | | | 656,192 | (a) | | | 1,623,843 | (a) |
| | — | | | | — | | | | 5,775 | | | | 10,935 | | | | 1,549 | (a) | | | 858 | (a) |
| | (79,586 | ) | | | (166,816 | ) | | | (56,163 | ) | | | (130,591 | ) | | | (659,118 | )(a) | | | (1,641,879 | )(a) |
| | (131,816 | ) | | | 269,202 | | | | (235,992 | ) | | | (637,376 | ) | | | (53,955 | ) | | | 236,292 | |
See accompanying notes to the financial statements.
208 :: Statements of Changes in Net Assets ::For the Periods Indicated
| | | Communication Services
UltraSector ProFund | | | Consumer Goods
UltraSector ProFund | |
| | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | |
| FROM INVESTMENT ACTIVITIES: | | | | | | | | | | | | | | | | |
| OPERATIONS: | | | | | | | | | | | | | | | | |
| Net investment income (loss) | | $ | (44,464 | ) | | $ | 1,287,849 | | | $ | 13,504 | | | $ | 2,400 | |
| Net realized gains (losses) on investments | | | 605,981 | | | | 3,772,227 | | | | 557,930 | | | | 298,596 | |
Change in net unrealized appreciation/depreciation
on investments | | | (98,349 | ) | | | 118,968 | | | | 83,560 | | | | (126,296 | ) |
| Change in net assets resulting from operations | | | 463,168 | | | | 5,179,044 | | | | 654,994 | | | | 174,700 | |
| DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions | | | | | | | | | | | | | | | | |
| Investor Class | | | (199,038 | ) | | | — | | | | (131,876 | ) | | | (64,275 | ) |
| Service Class | | | (3,708 | ) | | | — | | | | (10,965 | ) | | | (1,903 | ) |
| Change in net assets resulting from distributions | | | (202,746 | ) | | | — | | | | (142,841 | ) | | | (66,178 | ) |
| Change in net assets resulting from capital transactions | | | (3,246,450 | ) | | | (706,060 | ) | | | 2,300,924 | | | | (1,242,532 | ) |
| Change in net assets | | | (2,986,028 | ) | | | 4,472,984 | | | | 2,813,077 | | | | (1,134,010 | ) |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of period | | | 10,275,236 | | | | 5,802,252 | | | | 4,886,004 | | | | 6,020,014 | |
| End of period | | $ | 7,289,208 | | | $ | 10,275,236 | | | $ | 7,699,081 | | | $ | 4,886,004 | |
| CAPITAL TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | $ | 13,127,356 | | | $ | 195,232,775 | | | $ | 16,040,631 | | | $ | 17,383,024 | |
| Distributions reinvested | | | 193,461 | | | | — | | | | 125,656 | | | | 63,930 | |
| Value of shares redeemed | | | (16,549,918 | ) | | | (196,019,922 | ) | | | (13,774,839 | ) | | | (18,365,983 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | | 89,886 | | | | 1,515,101 | | | | 995,685 | | | | 696,392 | |
| Distributions reinvested | | | 3,708 | | | | — | | | | 10,965 | | | | 1,903 | |
| Value of shares redeemed | | | (110,943 | ) | | | (1,434,014 | ) | | | (1,097,174 | ) | | | (1,021,798 | ) |
| Change in net assets resulting from capital transactions | | $ | (3,246,450 | ) | | $ | (706,060 | ) | | $ | 2,300,924 | | | $ | (1,242,532 | ) |
| SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Issued | | | 138,101 | | | | 2,329,148 | | | | 144,564 | | | | 174,707 | |
| Reinvested | | | 2,004 | | | | — | | | | 1,091 | | | | 760 | |
| Redeemed | | | (175,686 | ) | | | (2,298,345 | ) | | | (124,850 | ) | | | (185,095 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Issued | | | 1,224 | | | | 21,382 | | | | 10,213 | | | | 7,584 | |
| Reinvested | | | 46 | | | | — | | | | 105 | | | | 25 | |
| Redeemed | | | (1,489 | ) | | | (21,236 | ) | | | (11,184 | ) | | | (11,085 | ) |
| Change in shares | | | (35,800 | ) | | | 30,949 | | | | 19,939 | | | | (13,104 | ) |
(a) As described in Note 9, share amounts have been adjusted for 3:1 share split that occurred on November 18, 2019.
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to the financial statements.
For the Periods Indicated:: Statements of Changes in Net Assets :: 209
Consumer Services
UltraSector ProFund | | | Europe 30 ProFund | | | Falling U.S. Dollar ProFund | |
Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | (104,870 | ) | | $ | (111,452 | ) | | $ | 36,265 | | | $ | 82,804 | | | $ | (829 | ) | | $ | (3,969 | ) |
| | (2,299,955 | ) | | | 4,028,613 | | | | (1,214,031 | ) | | | 501,255 | | | | 2,905 | | | | (175,062 | ) |
| | 2,258,949 | | | | (76,537 | ) | | | (2,016 | ) | | | (332,961 | ) | | | 13,513 | | | | (7,733 | ) |
| | (145,876 | ) | | | 3,840,624 | | | | (1,179,782 | ) | | | 251,098 | | | | 15,589 | | | | (186,764 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | — | | | | (1,973,365 | ) | | | (39,836 | ) | | | (257,496 | ) | | | — | | | | — | |
| | — | | | | (89,732 | ) | | | — | | | | (16,926 | ) | | | — | | | | — | |
| | — | | | | (2,063,097 | ) | | | (39,836 | ) | | | (274,422 | ) | | | — | | | | — | |
| | (43,285,205 | ) | | | (45,728,201 | ) | | | 766,900 | | | | 1,848,591 | | | | 76,594 | | | | (805,724 | ) |
| | (43,431,081 | ) | | | (43,950,674 | ) | | | (452,718 | ) | | | 1,825,267 | | | | 92,183 | | | | (992,488 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 93,047,204 | | | | 136,997,878 | | | | 5,261,482 | | | | 3,436,215 | | | | 1,006,481 | | | | 1,998,969 | |
| $ | 49,616,123 | | | $ | 93,047,204 | | | $ | 4,808,764 | | | $ | 5,261,482 | | | $ | 1,098,664 | | | $ | 1,006,481 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 61,988,642 | | | $ | 136,239,975 | | | $ | 41,173,544 | | | $ | 56,844,915 | | | $ | 2,788,835 | | | $ | 19,541,204 | |
| | — | | | | 1,960,936 | | | | 39,191 | | | | 247,413 | | | | — | | | | — | |
| | (105,029,883 | ) | | | (181,209,919 | ) | | | (40,389,231 | ) | | | (55,182,202 | ) | | | (2,692,414 | ) | | | (19,711,934 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 1,875,014 | | | | 4,637,775 | | | | 5,630 | | | | 5,416,826 | | | | 4,000,386 | | | | 27,764,103 | |
| | — | | | | 89,560 | | | | — | | | | 16,906 | | | | — | | | | — | |
| | (2,118,978 | ) | | | (7,446,528 | ) | | | (62,234 | ) | | | (5,495,267 | ) | | | (4,020,213 | ) | | | (28,399,097 | ) |
| $ | (43,285,205 | ) | | $ | (45,728,201 | ) | | $ | 766,900 | | | $ | 1,848,591 | | | $ | 76,594 | | | $ | (805,724 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 1,332,691 | (a) | | | 3,051,432 | (a) | | | 3,333,525 | | | | 4,495,027 | | | | 173,808 | | | | 1,187,640 | |
| | — | | | | 57,066 | (a) | | | 2,992 | | | | 19,747 | | | | — | | | | — | |
| | (2,306,780 | )(a) | | | (4,215,303 | )(a) | | | (3,367,676 | ) | | | (4,330,282 | ) | | | (168,217 | ) | | | (1,198,742 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 46,410 | (a) | | | 118,962 | (a) | | | 414 | | | | 372,709 | | | | 272,126 | | | | 1,799,735 | |
| | — | | | | 3,015 | (a) | | | — | | | | 1,226 | | | | — | | | | — | |
| | (54,756 | )(a) | | | (195,555 | )(a) | | | (4,550 | ) | | | (376,054 | ) | | | (271,958 | ) | | | (1,845,970 | ) |
| | (982,435 | ) | | | (1,180,383 | ) | | | (35,295 | ) | | | 182,373 | | | | 5,759 | | | | (57,337 | ) |
See accompanying notes to the financial statements.
210 :: Statements of Changes in Net Assets ::For the Periods Indicated
| | | Financials UltraSector ProFund | | | Health Care UltraSector ProFund | |
| | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | |
| FROM INVESTMENT ACTIVITIES: | | | | | | | | | | | | | | | | |
| OPERATIONS: | | | | | | | | | | | | | | | | |
| Net investment income (loss) | | $ | 61,357 | | | $ | 112,311 | | | $ | (17,288 | ) | | $ | 58,455 | |
| Net realized gains (losses) on investments | | | 1,183,992 | | | | 991,416 | | | | 2,996,934 | | | | (8,129,182 | ) |
Change in net unrealized appreciation/depreciation
on investments | | | (648,709 | ) | | | (1,031,558 | ) | | | (1,768,453 | ) | | | (1,438,347 | ) |
| Change in net assets resulting from operations | | | 596,640 | | | | 72,169 | | | | 1,211,193 | | | | (9,509,074 | ) |
| DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions | | | | | | | | | | | | | | | | |
| Investor Class | | | (183,769 | ) | | | — | | | | (12,104 | ) | | | (14,197 | ) |
| Service Class | | | (3,702 | ) | | | — | | | | — | | | | — | |
| Change in net assets resulting from distributions | | | (187,471 | ) | | | — | | | | (12,104 | ) | | | (14,197 | ) |
| Change in net assets resulting from capital transactions | | | (29,144,254 | ) | | | 31,085,699 | | | | 28,001,429 | | | | (16,048,305 | ) |
| Change in net assets | | | (28,735,085 | ) | | | 31,157,868 | | | | 29,200,518 | | | | (25,571,576 | ) |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of period | | | 41,207,075 | | | | 10,049,207 | | | | 15,977,980 | | | | 41,549,556 | |
| End of period | | $ | 12,471,990 | | | $ | 41,207,075 | | | $ | 45,178,498 | | | $ | 15,977,980 | |
| CAPITAL TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | $ | 69,427,808 | | | $ | 145,715,705 | | | $ | 62,641,250 | | | $ | 197,168,116 | |
| Distributions reinvested | | | 172,277 | | | | — | | | | 11,217 | | | | 13,514 | |
| Value of shares redeemed | | | (98,093,405 | ) | | | (115,069,949 | ) | | | (34,904,186 | ) | | | (212,378,352 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | | 899,710 | | | | 2,468,621 | | | | 1,183,909 | | | | 3,732,596 | |
| Distributions reinvested | | | 3,702 | | | | — | | | | — | | | | — | |
| Value of shares redeemed | | | (1,554,346 | ) | | | (2,028,678 | ) | | | (930,761 | ) | | | (4,584,179 | ) |
| Change in net assets resulting from capital transactions | | $ | (29,144,254 | ) | | $ | 31,085,699 | | | $ | 28,001,429 | | | $ | (16,048,305 | ) |
| SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Issued | | | 2,758,207 | | | | 6,494,399 | | | | 895,530 | | | | 3,131,516 | |
| Reinvested | | | 6,404 | | | | — | | | | 155 | | | | 244 | |
| Redeemed | | | (3,929,277 | ) | | | (5,286,237 | ) | | | (509,913 | ) | | | (3,541,978 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Issued | | | 41,534 | | | | 124,665 | | | | 20,913 | | | | 70,958 | |
| Reinvested | | | 161 | | | | — | | | | — | | | | — | |
| Redeemed | | | (75,283 | ) | | | (102,582 | ) | | | (16,997 | ) | | | (88,785 | ) |
| Change in shares | | | (1,198,254 | ) | | | 1,230,245 | | | | 389,688 | | | | (428,045 | ) |
(a) As described in Note 9, share amounts have been adjusted for 3:1 share split that occurred on November 18, 2019.
Amounts designated as “—”are $0 or have been rounded to $0.
See accompanying notes to the financial statements.
For the Periods Indicated:: Statements of Changes in Net Assets :: 211
| Industrials UltraSector ProFund | | | Internet UltraSector ProFund | | | Large-Cap Growth ProFund | |
Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | (9,569 | ) | | $ | (21,520 | ) | | $ | (653,392 | ) | | $ | (1,929,925 | ) | | $ | (40,436 | ) | | $ | (60,281 | ) |
| | 528,322 | | | | (3,622,975 | ) | | | 7,362,082 | | | | (13,126,559 | ) | | | 3,724,380 | | | | 4,100,470 | |
| | 90,206 | | | | (24,922 | ) | | | (17,109,199 | ) | | | 22,743,160 | | | | (850,458 | ) | | | (1,724,576 | ) |
| | 608,959 | | | | (3,669,417 | ) | | | (10,400,509 | ) | | | 7,686,676 | | | | 2,833,486 | | | | 2,315,613 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | — | | | | — | | | | (193,857 | ) | | | — | | | | (638,805 | ) | | | (422,081 | ) |
| | — | | | | — | | | | (12,351 | ) | | | — | | | | (195,353 | ) | | | (33,578 | ) |
| | — | | | | — | | | | (206,208 | ) | | | — | | | | (834,158 | ) | | | (455,659 | ) |
| | (815,793 | ) | | | 5,790,164 | | | | (46,360,955 | ) | | | (80,195,839 | ) | | | (7,417,454 | ) | | | (10,523,623 | ) |
| | (206,834 | ) | | | 2,120,747 | | | | (56,967,672 | ) | | | (72,509,163 | ) | | | (5,418,126 | ) | | | (8,663,669 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 10,481,340 | | | | 8,360,593 | | | | 220,056,639 | | | | 292,565,802 | | | | 26,007,204 | | | | 34,670,873 | |
| $ | 10,274,506 | | | $ | 10,481,340 | | | $ | 163,088,967 | | | $ | 220,056,639 | | | $ | 20,589,078 | | | $ | 26,007,204 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 9,602,032 | | | $ | 93,353,566 | | | $ | 42,961,840 | | | $ | 264,569,454 | | | $ | 76,149,843 | | | $ | 185,832,940 | |
| | — | | | | — | | | | 187,936 | | | | — | | | | 637,198 | | | | 421,871 | |
| | (10,144,530 | ) | | | (87,847,053 | ) | | | (87,214,820 | ) | | | (338,176,695 | ) | | | (84,087,764 | ) | | | (199,594,322 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 1,122,907 | | | | 1,843,624 | | | | 2,912,569 | | | | 9,893,576 | | | | 4,233,317 | | | | 7,279,415 | |
| | — | | | | — | | | | 11,670 | | | | — | | | | 195,315 | | | | 33,578 | |
| | (1,396,202 | ) | | | (1,559,973 | ) | | | (5,220,150 | ) | | | (16,482,174 | ) | | | (4,545,363 | ) | | | (4,497,105 | ) |
| $ | (815,793 | ) | | $ | 5,790,164 | | | $ | (46,360,955 | ) | | $ | (80,195,839 | ) | | $ | (7,417,454 | ) | | $ | (10,523,623 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 239,115 | (a) | | | 2,524,362 | (a) | | | 474,543 | | | | 2,899,012 | | | | 803,471 | | | | 2,074,959 | |
| | — | | | | — | | | | 2,062 | | | | — | | | | 6,506 | | | | 5,333 | |
| | (251,116 | )(a) | | | (2,494,212 | )(a) | | | (967,485 | ) | | | (3,770,433 | ) | | | (874,153 | ) | | | (2,217,056 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 32,253 | (a) | | | 60,066 | (a) | | | 42,216 | | | | 137,485 | | | | 52,944 | | | | 92,139 | |
| | — | | | | — | | | | 166 | | | | — | | | | 2,408 | | | | 503 | |
| | (41,299 | )(a) | | | (47,622 | )(a) | | | (75,243 | ) | | | (233,578 | ) | | | (56,755 | ) | | | (61,169 | ) |
| | (21,047 | ) | | | 42,594 | | | | (523,741 | ) | | | (967,514 | ) | | | (65,579 | ) | | | (105,291 | ) |
See accompanying notes to the financial statements.
212 :: Statements of Changes in Net Assets ::For the Periods Indicated
| | | Large-Cap Value ProFund | | | Mid-Cap ProFund | |
| | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | |
| FROM INVESTMENT ACTIVITIES: | | | | | | | | | | | | | | | | |
| OPERATIONS: | | | | | | | | | | | | | | | | |
| Net investment income (loss) | | $ | 81,810 | | | $ | 79,550 | | | $ | (17,162 | ) | | $ | (5,896 | ) |
| Net realized gains (losses) on investments | | | 1,183,686 | | | | 1,820,565 | | | | 424,416 | | | | 1,884,790 | |
Change in net unrealized appreciation/depreciation
on investments | | | 340,975 | | | | 238,114 | | | | (406,135 | ) | | | (3,013,989 | ) |
| Change in net assets resulting from operations | | | 1,606,471 | | | | 2,138,229 | | | | 1,119 | | | | (1,135,095 | ) |
| DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions | | | | | | | | | | | | | | | | |
| Investor Class | | | — | | | | (115,013 | ) | | | (319,135 | ) | | | (432,126 | ) |
| Service Class | | | — | | | | (70,361 | ) | | | (43,364 | ) | | | (27,064 | ) |
| Change in net assets resulting from distributions | | | — | | | | (185,374 | ) | | | (362,499 | ) | | | (459,190 | ) |
| Change in net assets resulting from capital transactions | | | 10,013,415 | | | | 5,158,557 | | | | 936,087 | | | | (9,441,120 | ) |
| Change in net assets | | | 11,619,886 | | | | 7,111,412 | | | | 574,707 | | | | (11,035,405 | ) |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of period | | | 13,042,787 | | | | 5,931,375 | | | | 9,680,596 | | | | 20,716,001 | |
| End of period | | $ | 24,662,673 | | | $ | 13,042,787 | | | $ | 10,255,303 | | | $ | 9,680,596 | |
| CAPITAL TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | $ | 72,911,175 | | | $ | 119,894,107 | | | $ | 20,699,772 | | | $ | 51,657,279 | |
| Distributions reinvested | | | — | | | | 114,949 | | | | 308,830 | | | | 429,644 | |
| Value of shares redeemed | | | (63,411,672 | ) | | | (115,436,127 | ) | | | (18,215,801 | ) | | | (63,462,226 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | | 596,435 | | | | 1,770,566 | | | | 4,503,072 | | | | 11,224,697 | |
| Distributions reinvested | | | — | | | | 70,361 | | | | 39,265 | | | | 27,064 | |
| Value of shares redeemed | | | (82,523 | ) | | | (1,255,299 | ) | | | (6,399,051 | ) | | | (9,317,578 | ) |
| Change in net assets resulting from capital transactions | | $ | 10,013,415 | | | $ | 5,158,557 | | | $ | 936,087 | | | $ | (9,441,120 | ) |
| SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Issued | | | 1,059,406 | | | | 1,876,935 | | | | 237,293 | | | | 611,176 | |
| Reinvested | | | — | | | | 2,048 | | | | 3,549 | | | | 5,850 | |
| Redeemed | | | (916,425 | ) | | | (1,781,080 | ) | | | (208,078 | ) | | | (755,238 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Issued | | | 9,711 | | | | 30,827 | | | | 63,851 | | | | 162,336 | |
| Reinvested | | | — | | | | 1,395 | | | | 553 | | | | 443 | |
| Redeemed | | | (1,359 | ) | | | (22,030 | ) | | | (91,371 | ) | | | (136,298 | ) |
| Change in shares | | | 151,333 | | | | 108,095 | | | | 5,797 | | | | (111,731 | ) |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to the financial statements.
For the Periods Indicated:: Statements of Changes in Net Assets :: 213
| Mid-Cap Growth ProFund | | | Mid-Cap Value ProFund | | | Nasdaq-100 ProFund | |
Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | (36,031 | ) | | $ | (74,425 | ) | | $ | 14,660 | | | $ | 6,588 | | | $ | (159,799 | ) | | $ | (47,039 | ) |
| | 1,046,990 | | | | 23,473 | | | | 625,541 | | | | (873,011 | ) | | | 5,641,670 | | | | 5,527,258 | |
| | (1,060,931 | ) | | | (478,894 | ) | | | (506,934 | ) | | | (259,004 | ) | | | 7,925,010 | | | | 1,144,009 | |
| | (49,972 | ) | | | (529,846 | ) | | | 133,267 | | | | (1,125,427 | ) | | | 13,406,881 | | | | 6,624,228 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | — | | | | — | | | | (21,081 | ) | | | (136,039 | ) | | | (796,773 | ) | | | — | |
| | — | | | | — | | | | — | | | | (21,413 | ) | | | (89,335 | ) | | | — | |
| | — | | | | — | | | | (21,081 | ) | | | (157,452 | ) | | | (886,108 | ) | | | — | |
| | (12,137,948 | ) | | | (208,493 | ) | | | (730,572 | ) | | | (869,754 | ) | | | (19,521,797 | ) | | | 9,865,475 | |
| | (12,187,920 | ) | | | (738,339 | ) | | | (618,386 | ) | | | (2,152,633 | ) | | | (7,001,024 | ) | | | 16,489,703 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 20,106,465 | | | | 20,844,804 | | | | 6,140,367 | | | | 8,293,000 | | | | 107,682,985 | | | | 91,193,282 | |
| $ | 7,918,545 | | | $ | 20,106,465 | | | $ | 5,521,981 | | | $ | 6,140,367 | | | $ | 100,681,961 | | | $ | 107,682,985 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 18,856,095 | | | $ | 57,090,083 | | | $ | 8,246,935 | | | $ | 72,015,143 | | | $ | 378,700,287 | | | $ | 507,583,011 | |
| | — | | | | — | | | | 21,075 | | | | 135,944 | | | | 779,644 | | | | — | |
| | (30,382,765 | ) | | | (58,666,178 | ) | | | (8,973,550 | ) | | | (73,081,004 | ) | | | (400,778,914 | ) | | | (495,189,959 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 1,811,638 | | | | 1,891,957 | | | | 10,473 | | | | 247,128 | | | | 38,394,485 | | | | 51,703,129 | |
| | — | | | | — | | | | — | | | | 21,401 | | | | 89,275 | | | | — | |
| | (2,422,916 | ) | | | (524,355 | ) | | | (35,505 | ) | | | (208,366 | ) | | | (36,706,574 | ) | | | (54,230,706 | ) |
| $ | (12,137,948 | ) | | $ | (208,493 | ) | | $ | (730,572 | ) | | $ | (869,754 | ) | | $ | (19,521,797 | ) | | $ | 9,865,475 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 194,691 | | | | 633,163 | | | | 112,566 | | | | 1,002,576 | | | | 4,878,610 | | | | 7,080,749 | |
| | — | | | | — | | | | 272 | | | | 2,173 | | | | 9,269 | | | | — | |
| | (319,644 | ) | | | (655,947 | ) | | | (121,706 | ) | | | (1,028,362 | ) | | | (5,151,134 | ) | | | (6,919,458 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 23,462 | | | | 24,664 | | | | 172 | | | | 4,162 | | | | 597,208 | | | | 894,554 | |
| | — | | | | — | | | | — | | | | 417 | | | | 1,305 | | | | — | |
| | (31,460 | ) | | | (7,121 | ) | | | (616 | ) | | | (3,497 | ) | | | (571,740 | ) | | | (938,917 | ) |
| | (132,951 | ) | | | (5,241 | ) | | | (9,312 | ) | | | (22,531 | ) | | | (236,482 | ) | | | 116,928 | |
See accompanying notes to the financial statements.
214 :: Statements of Changes in Net Assets ::For the Periods Indicated
| | | Oil & Gas UltraSector ProFund | | | Oil Equipment & Services
UltraSector ProFund | |
| | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | |
| FROM INVESTMENT ACTIVITIES: | | | | | | | | | | | | | | | | |
| OPERATIONS: | | | | | | | | | | | | | | | | |
| Net investment income (loss) | | $ | 97,587 | | | $ | 202,807 | | | $ | (2,315 | ) | | $ | (47,165 | ) |
| Net realized gains (losses) on investments | | | (443,264 | ) | | | (387,079 | ) | | | (2,310,480 | ) | | | (3,064,224 | ) |
Change in net unrealized appreciation/depreciation
on investments | | | (1,963,162 | ) | | | (6,798,803 | ) | | | (324,991 | ) | | | (2,051,390 | ) |
| Change in net assets resulting from operations | | | (2,308,839 | ) | | | (6,983,075 | ) | | | (2,637,786 | ) | | | (5,162,779 | ) |
| DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions | | | | | | | | | | | | | | | | |
| Investor Class | | | (152,406 | ) | | | (265,427 | ) | | | — | | | | (107,352 | ) |
| Service Class | | | (1,586 | ) | | | (3,157 | ) | | | — | | | | (130 | ) |
| Change in net assets resulting from distributions | | | (153,992 | ) | | | (268,584 | ) | | | — | | | | (107,482 | ) |
| Change in net assets resulting from capital transactions | | | (531,983 | ) | | | (23,423,552 | ) | | | 1,000,469 | | | | 3,327,055 | |
| Change in net assets | | | (2,994,814 | ) | | | (30,675,211 | ) | | | (1,637,317 | ) | | | (1,943,206 | ) |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of period | | | 14,132,373 | | | | 44,807,584 | | | | 6,577,784 | | | | 8,520,990 | |
| End of period | | $ | 11,137,559 | | | $ | 14,132,373 | | | $ | 4,940,467 | | | $ | 6,577,784 | |
| CAPITAL TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | $ | 30,925,231 | | | $ | 80,763,852 | | | $ | 31,914,392 | | | $ | 39,452,566 | |
| Distributions reinvested | | | 150,199 | | | | 227,593 | | | | — | | | | 106,155 | |
| Value of shares redeemed | | | (31,512,940 | ) | | | (103,815,177 | ) | | | (30,966,864 | ) | | | (36,618,169 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | | 922,932 | | | | 1,337,133 | | | | 397,793 | | | | 2,108,137 | |
| Distributions reinvested | | | 1,586 | | | | 3,133 | | | | — | | | | 130 | |
| Value of shares redeemed | | | (1,018,991 | ) | | | (1,940,086 | ) | | | (344,852 | ) | | | (1,721,764 | ) |
| Change in net assets resulting from capital transactions | | $ | (531,983 | ) | | $ | (23,423,552 | ) | | $ | 1,000,469 | | | $ | 3,327,055 | |
| SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Issued | | | 1,155,857 | | | | 2,464,384 | | | | 978,850 | (a) | | | 747,459 | (a) |
| Reinvested | | | 5,338 | | | | 8,787 | | | | — | | | | 2,659 | (a) |
| Redeemed | | | (1,169,201 | ) | | | (3,036,983 | ) | | | (965,542 | )(a) | | | (681,879 | )(a) |
| Service Class | | | | | | | | | | | | | | | | |
| Issued | | | 39,213 | | | | 51,907 | | | | 13,705 | (a) | | | 38,078 | (a) |
| Reinvested | | | 65 | | | | 140 | | | | — | | | | 4 | (a) |
| Redeemed | | | (44,231 | ) | | | (68,737 | ) | | | (11,095 | )(a) | | | (31,736 | )(a) |
| Change in shares | | | (12,959 | ) | | | (580,502 | ) | | | 15,918 | | | | 74,585 | |
(a) As described in Note 9, share amounts have been adjusted for 1:8 reverse share split that occurred on November 18, 2019.
Amounts designated as “—”are $0 or have been rounded to $0.
See accompanying notes to the financial statements.
For the Periods Indicated:: Statements of Changes in Net Assets :: 215
| Pharmaceuticals UltraSector ProFund | | | Precious Metals UltraSector ProFund | | | Real Estate UltraSector ProFund | |
Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | (2,456 | ) | | $ | (4,342 | ) | | $ | (125,540 | ) | | $ | (26,734 | ) | | $ | 198,197 | | | $ | 759,260 | |
| | 420,823 | | | | 329,740 | | | | 871,483 | | | | 2,262,987 | | | | 2,440,535 | | | | (343,563 | ) |
| | 216,184 | | | | (1,914,426 | ) | | | 6,141,491 | | | | 2,483,260 | | | | (1,209,174 | ) | | | 2,342,051 | |
| | 634,551 | | | | (1,589,028 | ) | | | 6,887,434 | | | | 4,719,513 | | | | 1,429,558 | | | | 2,757,748 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | — | | | | (211,504 | ) | | | — | | | | — | | | | (365,829 | ) | | | (660,713 | ) |
| | — | | | | (22,795 | ) | | | — | | | | — | | | | (9,848 | ) | | | (843 | ) |
| | — | | | | (234,299 | ) | | | — | | | | — | | | | (375,677 | ) | | | (661,556 | ) |
| | (1,218,783 | ) | | | (698,080 | ) | | | 1,332,739 | | | | 766,370 | | | | (15,553,169 | ) | | | 17,641,022 | |
| | (584,232 | ) | | | (2,521,407 | ) | | | 8,220,173 | | | | 5,485,883 | | | | (14,499,288 | ) | | | 19,737,214 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 5,473,354 | | | | 7,994,761 | | | | 30,916,189 | | | | 25,430,306 | | | | 26,671,486 | | | | 6,934,272 | |
| $ | 4,889,122 | | | $ | 5,473,354 | | | $ | 39,136,362 | | | $ | 30,916,189 | | | $ | 12,172,198 | | | $ | 26,671,486 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 8,442,389 | | | $ | 21,945,264 | | | $ | 145,359,088 | | | $ | 185,818,388 | | | $ | 82,157,211 | | | $ | 233,417,803 | |
| | — | | | | 211,460 | | | | — | | | | — | | | | 357,452 | | | | 630,764 | |
| | (10,251,080 | ) | | | (22,712,030 | ) | | | (144,236,647 | ) | | | (184,529,000 | ) | | | (97,775,001 | ) | | | (216,614,876 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 874,653 | | | | 1,218,874 | | | | 14,848,681 | | | | 17,046,345 | | | | 1,629,933 | | | | 5,080,159 | |
| | — | | | | 22,017 | | | | — | | | | — | | | | 9,847 | | | | 843 | |
| | (284,745 | ) | | | (1,383,665 | ) | | | (14,638,383 | ) | | | (17,569,363 | ) | | | (1,932,611 | ) | | | (4,873,671 | ) |
| $ | (1,218,783 | ) | | $ | (698,080 | ) | | $ | 1,332,739 | | | $ | 766,370 | | | $ | (15,553,169 | ) | | $ | 17,641,022 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 385,091 | | | | 907,848 | | | | 3,054,738 | | | | 5,939,991 | | | | 1,506,159 | | | | 5,091,527 | |
| | — | | | | 10,774 | | | | — | | | | — | | | | 6,591 | | | | 14,178 | |
| | (468,364 | ) | | | (948,616 | ) | | | (3,060,478 | ) | | | (5,958,648 | ) | | | (1,804,893 | ) | | | (4,745,616 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 43,096 | | | | 50,436 | | | | 366,033 | | | | 647,782 | | | | 31,260 | | | | 113,681 | |
| | — | | | | 1,286 | | | | — | | | | — | | | | 191 | | | | 18 | |
| | (15,413 | ) | | | (63,096 | ) | | | (360,917 | ) | | | (667,865 | ) | | | (37,599 | ) | | | (110,497 | ) |
| | (55,590 | ) | | | (41,368 | ) | | | (624 | ) | | | (38,740 | ) | | | (298,291 | ) | | | 363,291 | |
See accompanying notes to the financial statements.
216 :: Statements of Changes in Net Assets ::For the Periods Indicated
| | | Rising Rates Opportunity ProFund | | | Rising Rates
Opportunity 10 ProFund | |
| | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | |
| FROM INVESTMENT ACTIVITIES: | | | | | | | | | | | | | | | | |
| OPERATIONS: | | | | | | | | | | | | | | | | |
| Net investment income (loss) | | $ | (7,831 | ) | | $ | 209,610 | | | $ | (4,649 | ) | | $ | 32,318 | |
| Net realized gains (losses) on investments | | | (3,129,328 | ) | | | (4,661,141 | ) | | | (86,458 | ) | | | (380,334 | ) |
Change in net unrealized appreciation/depreciation
on investments | | | (107,788 | ) | | | (1,492,070 | ) | | | (54,980 | ) | | | (156,801 | ) |
| Change in net assets resulting from operations | | | (3,244,947 | ) | | | (5,943,601 | ) | | | (146,087 | ) | | | (504,817 | ) |
| DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions | | | | | | | | | | | | | | | | |
| Investor Class | | | (188,442 | ) | | | — | | | | (17,678 | ) | | | — | |
| Service Class | | | — | | | | — | | | | — | | | | — | |
| Change in net assets resulting from distributions | | | (188,442 | ) | | | — | | | | (17,678 | ) | | | — | |
| Change in net assets resulting from capital transactions | | | (16,924,942 | ) | | | 9,199,031 | | | | 127,593 | | | | (13,046,907 | ) |
| Change in net assets | | | (20,358,331 | ) | | | 3,255,430 | | | | (36,172 | ) | | | (13,551,724 | ) |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of period | | | 30,400,874 | | | | 27,145,444 | | | | 2,970,648 | | | | 16,522,372 | |
| End of period | | $ | 10,042,543 | | | $ | 30,400,874 | | | $ | 2,934,476 | | | $ | 2,970,648 | |
| CAPITAL TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | $ | 80,014,605 | | | $ | 380,069,502 | | | $ | 1,543,004 | | | $ | 8,422,034 | |
| Distributions reinvested | | | 172,450 | | | | — | | | | 17,565 | | | | — | |
| Value of shares redeemed | | | (97,373,145 | ) | | | (370,711,201 | ) | | | (1,357,540 | ) | | | (21,441,580 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | | 5,035,749 | | | | 36,504,218 | | | | 466 | | | | 123,032 | |
| Distributions reinvested | | | — | | | | — | | | | — | | | | — | |
| Value of shares redeemed | | | (4,774,601 | ) | | | (36,663,488 | ) | | | (75,902 | ) | | | (150,393 | ) |
| Change in net assets resulting from capital transactions | | $ | (16,924,942 | ) | | $ | 9,199,031 | | | $ | 127,593 | | | $ | (13,046,907 | ) |
| SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Issued | | | 2,479,224 | | | | 9,528,488 | | | | 111,923 | | | | 551,138 | |
| Reinvested | | | 5,259 | | | | — | | | | 1,265 | | | | — | |
| Redeemed | | | (3,003,630 | ) | | | (9,306,165 | ) | | | (98,557 | ) | | | (1,407,851 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Issued | | | 167,857 | | | | 1,008,316 | | | | 36 | | | | 8,463 | |
| Reinvested | | | — | | | | — | | | | — | | | | — | |
| Redeemed | | | (168,828 | ) | | | (1,029,414 | ) | | | (5,886 | ) | | | (10,679 | ) |
| Change in shares | | | (520,118 | ) | | | 201,225 | | | | 8,781 | | | | (858,929 | ) |
(a) As described in Note 9, share amounts have been adjusted for 1:4 reverse share split that occurred on November 18, 2019.
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to the financial statements.
For the Periods Indicated:: Statements of Changes in Net Assets :: 217
| Rising U.S. Dollar ProFund | | | Semiconductor UltraSector ProFund | | | Short Nasdaq-100 ProFund | |
Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | (14,772 | ) | | $ | 21,410 | | | $ | 86,100 | | | $ | 463,866 | | | $ | (4,209 | ) | | $ | 14,648 | |
| | 104,641 | | | | 638,004 | | | | 21,732,294 | | | | 50,573,356 | | | | (378,736 | ) | | | (504,921 | ) |
| | (160,639 | ) | | | 65,439 | | | | 4,229 | | | | (47,273,285 | ) | | | (124,897 | ) | | | 20,421 | |
| | (70,770 | ) | | | 724,853 | | | | 21,822,623 | | | | 3,763,937 | | | | (507,842 | ) | | | (469,852 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | (23,144 | ) | | | (64,028 | ) | | | (1,021,610 | ) | | | (11,989,242 | ) | | | (11,298 | ) | | | — | |
| | — | | | | (39,659 | ) | | | (60,594 | ) | | | (493,055 | ) | | | — | | | | — | |
| | (23,144 | ) | | | (103,687 | ) | | | (1,082,204 | ) | | | (12,482,297 | ) | | | (11,298 | ) | | | — | |
| | (3,442,528 | ) | | | (3,835,446 | ) | | | 116,469,948 | | | | (174,416,979 | ) | | | 1,881,171 | | | | 2,753,650 | |
| | (3,536,442 | ) | | | (3,214,280 | ) | | | 137,210,367 | | | | (183,135,339 | ) | | | 1,362,031 | | | | 2,283,798 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 12,581,559 | | | | 15,795,839 | | | | 66,698,784 | | | | 249,834,123 | | | | 5,216,456 | | | | 2,932,658 | |
| $ | 9,045,117 | | | $ | 12,581,559 | | | $ | 203,909,151 | | | $ | 66,698,784 | | | $ | 6,578,487 | | | $ | 5,216,456 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 18,650,625 | | | $ | 83,498,071 | | | $ | 227,345,609 | | | $ | 153,101,504 | | | $ | 105,597,645 | | | $ | 94,841,596 | |
| | 21,856 | | | | 62,436 | | | | 1,008,840 | | | | 9,646,745 | | | | 11,131 | | | | — | |
| | (22,036,539 | ) | | | (86,490,392 | ) | | | (112,243,600 | ) | | | (335,171,333 | ) | | | (103,580,099 | ) | | | (92,658,666 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 21,149,982 | | | | 29,197,344 | | | | 6,080,375 | | | | 4,804,681 | | | | 7,106,901 | | | | 20,501,563 | |
| | — | | | | 39,538 | | | | 55,543 | | | | 484,464 | | | | — | | | | — | |
| | (21,228,452 | ) | | | (30,142,443 | ) | | | (5,776,819 | ) | | | (7,283,040 | ) | | | (7,254,407 | ) | | | (19,930,843 | ) |
| $ | (3,442,528 | ) | | $ | (3,835,446 | ) | | $ | 116,469,948 | | | $ | (174,416,979 | ) | | $ | 1,881,171 | | | $ | 2,753,650 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 630,274 | | | | 2,920,209 | | | | 4,503,284 | | | | 3,483,339 | | | | 3,166,797 | (a) | | | 2,589,325 | (a) |
| | 749 | | | | 2,188 | | | | 24,619 | | | | 294,171 | | | | 373 | (a) | | | — | |
| | (747,973 | ) | | | (3,034,035 | ) | | | (2,307,542 | ) | | | (6,357,034 | ) | | | (3,092,165 | )(a) | | | (2,525,917 | )(a) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 805,710 | | | | 1,139,124 | | | | 159,632 | | | | 138,541 | | | | 238,991 | (a) | | | 614,659 | (a) |
| | — | | | | 1,548 | | | | 1,810 | | | | 19,240 | | | | — | | | | — | |
| | (806,221 | ) | | | (1,175,272 | ) | | | (150,121 | ) | | | (193,494 | ) | | | (242,533 | )(a) | | | (599,140 | )(a) |
| | (117,461 | ) | | | (146,238 | ) | | | 2,231,682 | | | | (2,615,237 | ) | | | 71,463 | | | | 78,927 | |
See accompanying notes to the financial statements.
218 :: Statements of Changes in Net Assets ::For the Periods Indicated
| | | Short Oil & Gas ProFund | | | Short Precious Metals ProFund | |
| | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | |
| FROM INVESTMENT ACTIVITIES: | | | | | | | | | | | | | | | | |
| OPERATIONS: | | | | | | | | | | | | | | | | |
| Net investment income (loss) | | $ | (560 | ) | | $ | 7,806 | | | $ | (546 | ) | | $ | 26,549 | |
| Net realized gains (losses) on investments | | | (58,596 | ) | | | 378,108 | | | | (1,035,416 | ) | | | (2,325,282 | ) |
| Change in net unrealized appreciation/depreciation on investments | | | 133,913 | | | | 121,998 | | | | (249,585 | ) | | | 185,724 | |
| Change in net assets resulting from operations | | | 74,757 | | | | 507,912 | | | | (1,285,547 | ) | | | (2,113,009 | ) |
| DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions | | | | | | | | | | | | | | | | |
| Investor Class | | | (4,714 | ) | | | — | | | | (18,058 | ) | | | — | |
| Change in net assets resulting from distributions | | | (4,714 | ) | | | — | | | | (18,058 | ) | | | — | |
| Change in net assets resulting from capital transactions | | | 521,455 | | | | (29,505 | ) | | | (2,103,741 | ) | | | 193,569 | |
| Change in net assets | | | 591,498 | | | | 478,407 | | | | (3,407,346 | ) | | | (1,919,440 | ) |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of period | | | 2,118,024 | | | | 1,639,617 | | | | 4,675,152 | | | | 6,594,592 | |
| End of period | | $ | 2,709,522 | | | $ | 2,118,024 | | | $ | 1,267,806 | | | $ | 4,675,152 | |
| CAPITAL TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | $ | 17,056,014 | | | $ | 38,174,330 | | | $ | 89,026,610 | | | $ | 210,985,135 | |
| Distributions reinvested | | | 4,654 | | | | — | | | | 16,669 | | | | — | |
| Value of shares redeemed | | | (16,540,670 | ) | | | (38,189,339 | ) | | | (91,116,013 | ) | | | (210,759,510 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | | 202,284 | | | | 2,787,874 | | | | 497,116 | | | | 1,699,713 | |
| Value of shares redeemed | | | (200,827 | ) | | | (2,802,370 | ) | | | (528,123 | ) | | | (1,731,769 | ) |
| Change in net assets resulting from capital transactions | | $ | 521,455 | | | $ | (29,505 | ) | | $ | (2,103,741 | ) | | $ | 193,569 | |
| SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Issued | | | 346,777 | | | | 868,625 | | | | 3,024,765 | | | | 5,044,788 | |
| Reinvested | | | 101 | | | | — | | | | 632 | | | | — | |
| Redeemed | | | (339,663 | ) | | | (865,220 | ) | | | (3,119,252 | ) | | | (5,056,342 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Issued | | | 4,397 | | | | 64,857 | | | | 17,564 | | | | 40,359 | |
| Redeemed | | | (4,369 | ) | | | (64,872 | ) | | | (17,575 | ) | | | (40,538 | ) |
| Change in shares | | | 7,243 | | | | 3,390 | | | | (93,866 | ) | | | (11,733 | ) |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to the financial statements.
For the Periods Indicated:: Statements of Changes in Net Assets :: 219
| Short Real Estate ProFund | | | Short Small-Cap ProFund | | | Small-Cap ProFund | |
Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | (611 | ) | | $ | 4,280 | | | $ | (482 | ) | | $ | 11,519 | | | $ | (17,846 | ) | | $ | (20,079 | ) |
| | (90,413 | ) | | | (145,573 | ) | | | (167,000 | ) | | | 744,880 | | | | (37,793 | ) | | | (2,323,556 | ) |
| | 22,438 | | | | 15,681 | | | | 52,561 | | | | 6,480 | | | | (125,220 | ) | | | (807,843 | ) |
| | (68,586 | ) | | | (125,612 | ) | | | (114,921 | ) | | | 762,879 | | | | (180,859 | ) | | | (3,151,478 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | — | | | | — | | | | (7,330 | ) | | | — | | | | — | | | | — | |
| | — | | | | — | | | | (7,330 | ) | | | — | | | | — | | | | — | |
| | (328,606 | ) | | | (477,661 | ) | | | 2,389,093 | | | | (3,202,521 | ) | | | (4,472,224 | ) | | | (34,176,768 | ) |
| | (397,192 | ) | | | (603,273 | ) | | | 2,266,842 | | | | (2,439,642 | ) | | | (4,653,083 | ) | | | (37,328,246 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 1,214,476 | | | | 1,817,749 | | | | 1,171,179 | | | | 3,610,821 | | | | 8,668,251 | | | | 45,996,497 | |
| $ | 817,284 | | | $ | 1,214,476 | | | $ | 3,438,021 | | | $ | 1,171,179 | | | $ | 4,015,168 | | | $ | 8,668,251 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 7,344,158 | | | $ | 23,694,446 | | | $ | 27,742,936 | | | $ | 71,971,520 | | | $ | 116,185,455 | | | $ | 269,004,723 | |
| | — | | | | — | | | | 7,216 | | | | — | | | | — | | | | — | |
| | (7,672,769 | ) | | | (23,833,080 | ) | | | (25,364,205 | ) | | | (74,996,499 | ) | | | (120,623,072 | ) | | | (301,027,561 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 10 | | | | 7,472 | | | | 636,574 | | | | 12,334,020 | | | | 732,193 | | | | 9,821,653 | |
| | (5 | ) | | | (346,499 | ) | | | (633,428 | ) | | | (12,511,562 | ) | | | (766,800 | ) | | | (11,975,583 | ) |
| $ | (328,606 | ) | | $ | (477,661 | ) | | $ | 2,389,093 | | | $ | (3,202,521 | ) | | $ | (4,472,224 | ) | | $ | (34,176,768 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 591,475 | | | | 1,676,185 | | | | 2,124,248 | | | | 5,085,814 | | | | 1,369,365 | | | | 3,175,352 | |
| | — | | | | — | | | | 594 | | | | — | | | | — | | | | — | |
| | (617,313 | ) | | | (1,682,658 | ) | | | (1,939,425 | ) | | | (5,271,450 | ) | | | (1,424,355 | ) | | | (3,555,236 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 1 | | | | 555 | | | | 49,001 | | | | 948,010 | | | | 9,890 | | | | 138,935 | |
| | (1 | ) | | | (26,832 | ) | | | (49,001 | ) | | | (957,973 | ) | | | (10,474 | ) | | | (168,503 | ) |
| | (25,838 | ) | | | (32,750 | ) | | | 185,417 | | | | (195,599 | ) | | | (55,574 | ) | | | (409,452 | ) |
See accompanying notes to the financial statements.
220 :: Statements of Changes in Net Assets ::For the Periods Indicated
| | | Small-Cap Growth ProFund | | | Small-Cap Value ProFund | |
| | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | |
| FROM INVESTMENT ACTIVITIES: | | | | | | | | | | | | | | | | |
| OPERATIONS: | | | | | | | | | | | | | | | | |
| Net investment income (loss) | | $ | (79,182 | ) | | $ | (163,186 | ) | | $ | 10,301 | | | $ | (38,388 | ) |
| Net realized gains (losses) on investments | | | 741,860 | | | | (790,974 | ) | | | (339,315 | ) | | | 3,511,092 | |
| Change in net unrealized appreciation/depreciation on investments | | | (435,538 | ) | | | (4,789,528 | ) | | | (710,961 | ) | | | (4,348,613 | ) |
| Change in net assets resulting from operations | | | 227,140 | | | | (5,743,688 | ) | | | (1,039,975 | ) | | | (875,909 | ) |
| DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions | | | | | | | | | | | | | | | | |
| Investor Class | | | — | | | | (926,073 | ) | | | (3,975 | ) | | | (331,882 | ) |
| Service Class | | | — | | | | (41,621 | ) | | | — | | | | (50,094 | ) |
| Change in net assets resulting from distributions | | | — | | | | (967,694 | ) | | | (3,975 | ) | | | (381,976 | ) |
| Change in net assets resulting from capital transactions | | | (1,103,304 | ) | | | (11,557,650 | ) | | | 409,261 | | | | (26,082,373 | ) |
| Change in net assets | | | (876,164 | ) | | | (18,269,032 | ) | | | (634,689 | ) | | | (27,340,258 | ) |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of period | | | 12,025,728 | | | | 30,294,760 | | | | 5,809,529 | | | | 33,149,787 | |
| End of period | | $ | 11,149,564 | | | $ | 12,025,728 | | | $ | 5,174,840 | | | $ | 5,809,529 | |
| CAPITAL TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | $ | 32,353,431 | | | $ | 109,820,789 | | | $ | 31,933,675 | | | $ | 65,287,200 | |
| Distributions reinvested | | | — | | | | 919,734 | | | | 3,971 | | | | 324,848 | |
| Value of shares redeemed | | | (33,522,772 | ) | | | (122,615,224 | ) | | | (31,509,806 | ) | | | (91,759,284 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | | 1,988,518 | | | | 2,004,692 | | | | 410,082 | | | | 613,883 | |
| Distributions reinvested | | | — | | | | 41,511 | | | | — | | | | 47,803 | |
| Value of shares redeemed | | | (1,922,481 | ) | | | (1,729,152 | ) | | | (428,661 | ) | | | (596,823 | ) |
| Change in net assets resulting from capital transactions | | $ | (1,103,304 | ) | | $ | (11,557,650 | ) | | $ | 409,261 | | | $ | (26,082,373 | ) |
| SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Issued | | | 367,552 | | | | 1,137,112 | | | | 402,384 | | | | 826,372 | |
| Reinvested | | | — | | | | 11,858 | | | | 48 | | | | 4,783 | |
| Redeemed | | | (380,942 | ) | | | (1,322,057 | ) | | | (410,048 | ) | | | (1,094,108 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Issued | | | 27,240 | | | | 27,166 | | | | 6,225 | | | | 8,985 | |
| Reinvested | | | — | | | | 653 | | | | — | | | | 851 | |
| Redeemed | | | (26,900 | ) | | | (22,794 | ) | | | (6,892 | ) | | | (8,893 | ) |
| Change in shares | | | (13,050 | ) | | | (168,062 | ) | | | (8,283 | ) | | | (262,010 | ) |
(a) As described in Note 9, share amounts have been adjusted for 3:1 share split that occurred on November 18, 2019.
Amounts designated as “—” or have been rounded to $0.
See accompanying notes to the financial statements.
For the Periods Indicated:: Statements of Changes in Net Assets :: 221
| Technology UltraSector ProFund | | | Telecommunications
UltraSector ProFund | | | U.S. Government Plus ProFund | |
Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | (175,090 | ) | | $ | 11,962 | | | $ | 4,870 | | | $ | 20,115 | | | $ | 65,995 | | | $ | 285,092 | |
| | 8,714,216 | | | | (13,202,315 | ) | | | 38,406 | | | | (4,345,721 | ) | | | 3,198,163 | | | | 2,846,033 | |
| | 3,872,838 | | | | 529,180 | | | | (86,887 | ) | | | (169,971 | ) | | | 1,144,879 | | | | 1,309,613 | |
| | 12,411,964 | | | | (12,661,173 | ) | | | (43,611 | ) | | | (4,495,577 | ) | | | 4,409,037 | | | | 4,440,738 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | — | | | | (55,595 | ) | | | (20,154 | ) | | | (37,077 | ) | | | (65,901 | ) | | | (281,577 | ) |
| | — | | | | (4,795 | ) | | | (289 | ) | | | (337 | ) | | | (105 | ) | | | (3,503 | ) |
| | — | | | | (60,390 | ) | | | (20,443 | ) | | | (37,414 | ) | | | (66,006 | ) | | | (285,080 | ) |
| | (7,012,021 | ) | | | (3,547,430 | ) | | | (234,824 | ) | | | 4,085,650 | | | | 7,627,586 | | | | 3,369,498 | |
| | 5,399,943 | | | | (16,268,993 | ) | | | (298,878 | ) | | | (447,341 | ) | | | 11,970,617 | | | | 7,525,156 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 86,194,037 | | | | 102,463,030 | | | | 1,543,762 | | | | 1,991,103 | | | | 26,396,145 | | | | 18,870,989 | |
| $ | 91,593,980 | | | $ | 86,194,037 | | | $ | 1,244,884 | | | $ | 1,543,762 | | | $ | 38,366,762 | | | $ | 26,396,145 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 120,538,896 | | | $ | 311,934,446 | | | $ | 3,793,270 | | | $ | 96,212,839 | | | $ | 210,798,278 | | | $ | 518,401,645 | |
| | — | | | | 52,334 | | | | 20,040 | | | | 36,950 | | | | 61,074 | | | | 262,290 | |
| | (127,778,166 | ) | | | (312,633,140 | ) | | | (4,032,394 | ) | | | (92,145,778 | ) | | | (202,245,091 | ) | | | (513,645,441 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 4,481,049 | | | | 5,044,153 | | | | 62,468 | | | | 277,287 | | | | 20,932,447 | | | | 44,851,682 | |
| | — | | | | 4,795 | | | | 289 | | | | 337 | | | | 105 | | | | 3,503 | |
| | (4,253,800 | ) | | | (7,950,018 | ) | | | (78,497 | ) | | | (295,985 | ) | | | (21,919,227 | ) | | | (46,504,181 | ) |
| $ | (7,012,021 | ) | | $ | (3,547,430 | ) | | $ | (234,824 | ) | | $ | 4,085,650 | | | $ | 7,627,586 | | | $ | 3,369,498 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 2,291,654 | (a) | | | 6,765,621 | (a) | | | 180,972 | | | | 4,583,382 | | | | 3,241,694 | | | | 9,736,081 | |
| | — | | | | 1,542 | (a) | | | 939 | | | | 2,077 | | | | 915 | | | | 4,759 | |
| | (2,553,036 | )(a) | | | (7,362,555 | )(a) | | | (192,195 | ) | | | (4,607,191 | ) | | | (3,104,815 | ) | | | (9,622,896 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 95,016 | (a) | | | 130,497 | (a) | | | 3,040 | | | | 13,324 | | | | 342,872 | | | | 909,967 | |
| | — | | | | 168 | (a) | | | 14 | | | | 20 | | | | 2 | | | | 72 | |
| | (93,031 | )(a) | | | (217,122 | )(a) | | | (3,848 | ) | | | (14,251 | ) | | | (363,902 | ) | | | (953,938 | ) |
| | (259,397 | ) | | | (681,849 | ) | | | (11,078 | ) | | | (22,639 | ) | | | 116,766 | | | | 74,045 | |
See accompanying notes to the financial statements.
222 :: Statements of Changes in Net Assets ::For the Periods Indicated
| | | UltraBear ProFund | | | UltraBull ProFund | |
| | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | |
| FROM INVESTMENT ACTIVITIES: | | | | | | | | | | | | | | | | |
| OPERATIONS: | | | | | | | | | | | | | | | | |
| Net investment income (loss) | | $ | (3,117 | ) | | $ | 41,469 | | | $ | 198,359 | | | $ | 724,245 | |
| Net realized gains (losses) on investments | | | (2,150,884 | ) | | | (3,133,232 | ) | | | 5,140,711 | | | | 4,550,474 | |
| Change in net unrealized appreciation/depreciation on investments | | | (147,856 | ) | | | 205,711 | | | | 8,781,309 | | | | (7,893,136 | ) |
| Change in net assets resulting from operations | | | (2,301,857 | ) | | | (2,886,052 | ) | | | 14,120,379 | | | | (2,618,417 | ) |
| DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions | | | | | | | | | | | | | | | | |
| Investor Class | | | — | | | | — | | | | (651,715 | ) | | | (762,774 | ) |
| Service Class | | | — | | | | — | | | | — | | | | (7,389 | ) |
| Change in net assets resulting from distributions | | | — | | | | — | | | | (651,715 | ) | | | (770,163 | ) |
| Change in net assets resulting from capital transactions | | | 3,031,137 | | | | 78,746 | | | | (34,085,213 | ) | | | (7,817,877 | ) |
| Change in net assets | | | 729,280 | | | | (2,807,306 | ) | | | (20,616,549 | ) | | | (11,206,457 | ) |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of period | | | 9,134,643 | | | | 11,941,949 | | | | 176,336,889 | | | | 187,543,346 | |
| End of period | | $ | 9,863,923 | | | $ | 9,134,643 | | | $ | 155,720,340 | | | $ | 176,336,889 | |
| CAPITAL TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | $ | 80,321,532 | | | $ | 170,097,085 | | | $ | 683,882,473 | | | $ | 1,611,817,398 | |
| Distributions reinvested | | | — | | | | — | | | | 640,510 | | | | 745,165 | |
| Value of shares redeemed | | | (77,185,576 | ) | | | (166,906,036 | ) | | | (718,585,149 | ) | | | (1,620,366,794 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | | 93,399 | | | | 8,520,592 | | | | 3,391,743 | | | | 23,535,936 | |
| Distributions reinvested | | | — | | | | — | | | | — | | | | 7,127 | |
| Value of shares redeemed | | | (198,218 | ) | | | (11,632,895 | ) | | | (3,414,790 | ) | | | (23,556,709 | ) |
| Change in net assets resulting from capital transactions | | $ | 3,031,137 | | | $ | 78,746 | | | $ | (34,085,213 | ) | | $ | (7,817,877 | ) |
| SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Issued | | | 4,423,606 | | | | 7,694,864 | | | | 9,701,045 | | | | 26,334,951 | |
| Reinvested | | | — | | | | — | | | | 8,176 | | | | 11,061 | |
| Redeemed | | | (4,276,323 | ) | | | (7,598,178 | ) | | | (10,318,318 | ) | | | (26,725,357 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Issued | | | 5,888 | | | | 393,374 | | | | 60,067 | | | | 472,301 | |
| Reinvested | | | — | | | | — | | | | — | | | | 126 | |
| Redeemed | | | (11,636 | ) | | | (550,183 | ) | | | (59,650 | ) | | | (482,677 | ) |
| Change in shares | | | 141,535 | | | | (60,123 | ) | | | (608,680 | ) | | | (389,595 | ) |
(a) As described in Note 9, share amounts have been adjusted for 3:1 share split that occurred on November 18, 2019.
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to the financial statements.
For the Periods Indicated:: Statements of Changes in Net Assets :: 223
| UltraChina ProFund | | | UltraDow 30 ProFund | | | UltraEmerging Markets ProFund | |
Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | (55,594 | ) | | $ | (18,083 | ) | | $ | 80,883 | | | $ | 237,141 | | | $ | 15,226 | | | $ | 12,038 | |
| | 2,281,613 | | | | (8,310,133 | ) | | | 2,148,115 | | | | 166,356 | | | | 842,446 | | | | (1,830,464 | ) |
| | 775,304 | | | | (2,426,267 | ) | | | 649,011 | | | | 699,977 | | | | 394,869 | | | | (3,268,600 | ) |
| | 3,001,323 | | | | (10,754,483 | ) | | | 2,878,009 | | | | 1,103,474 | | | | 1,252,541 | | | | (5,087,026 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | (18,540 | ) | | | — | | | | (647,779 | ) | | | (250,371 | ) | | | — | | | | (73,918 | ) |
| | — | | | | — | | | | (12,315 | ) | | | — | | | | — | | | | — | |
| | (18,540 | ) | | | — | | | | (660,094 | ) | | | (250,371 | ) | | | — | | | | (73,918 | ) |
| | (6,858,537 | ) | | | 4,423,092 | | | | (7,996,125 | ) | | | (264,363 | ) | | | (388,633 | ) | | | (5,115,136 | ) |
| | (3,875,754 | ) | | | (6,331,391 | ) | | | (5,778,210 | ) | | | 588,740 | | | | 863,908 | | | | (10,276,080 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 22,128,360 | | | | 28,459,751 | | | | 39,656,501 | | | | 39,067,761 | | | | 13,059,071 | | | | 23,335,151 | |
| $ | 18,252,606 | | | $ | 22,128,360 | | | $ | 33,878,291 | | | $ | 39,656,501 | | | $ | 13,922,979 | | | $ | 13,059,071 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 106,644,559 | | | $ | 248,686,803 | | | $ | 46,614,818 | | | $ | 141,729,317 | | | $ | 35,389,359 | | | $ | 67,929,866 | |
| | 16,996 | | | | — | | | | 627,652 | | | | 238,586 | | | | — | | | | 70,505 | |
| | (113,376,054 | ) | | | (243,902,607 | ) | | | (55,251,349 | ) | | | (141,358,941 | ) | | | (35,902,835 | ) | | | (72,837,912 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 3,512,899 | | | | 3,059,375 | | | | 1,359,455 | | | | 2,123,170 | | | | 755,250 | | | | 2,464,687 | |
| | — | | | | — | | | | 12,012 | | | | — | | | | — | | | | — | |
| | (3,656,937 | ) | | | (3,420,479 | ) | | | (1,358,713 | ) | | | (2,996,495 | ) | | | (630,407 | ) | | | (2,742,282 | ) |
| $ | (6,858,537 | ) | | $ | 4,423,092 | | | $ | (7,996,125 | ) | | $ | (264,363 | ) | | $ | (388,633 | ) | | $ | (5,115,136 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 8,619,574 | | | | 19,131,750 | | | | 959,334 | (a) | | | 3,193,680 | (a) | | | 623,737 | | | | 1,273,110 | |
| | 1,217 | | | | — | | | | 11,999 | (a) | | | 6,774 | (a) | | | — | | | | 1,565 | |
| | (9,140,999 | ) | | | (18,772,847 | ) | | | (1,145,893 | )(a) | | | (3,232,893 | )(a) | | | (636,804 | ) | | | (1,385,726 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 301,484 | | | | 277,570 | | | | 32,635 | (a) | | | 54,357 | (a) | | | 14,749 | | | | 48,921 | |
| | — | | | | — | | | | 263 | (a) | | | — | | | | — | | | | — | |
| | (300,218 | ) | | | (300,441 | ) | | | (32,453 | )(a) | | | (77,979 | )(a) | | | (12,417 | ) | | | (55,096 | ) |
| | (518,942 | ) | | | 336,032 | | | | (174,115 | ) | | | (56,061 | ) | | | (10,735 | ) | | | (117,226 | ) |
See accompanying notes to the financial statements.
224 :: Statements of Changes in Net Assets ::For the Periods Indicated
| | | UltraInternational ProFund | | | UltraJapan ProFund | |
| | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | |
| FROM INVESTMENT ACTIVITIES: | | | | | | | | | | | | | | | | |
| OPERATIONS: | | | | | | | | | | | | | | | | |
| Net investment income (loss) | | $ | (7,262 | ) | | $ | 5,907 | | | $ | (31,847 | ) | | $ | 24,999 | |
| Net realized gains (losses) on investments | | | 479,703 | | | | (1,056,547 | ) | | | 3,563,065 | | | | (2,197,195 | ) |
| Change in net unrealized appreciation/depreciation on investments | | | 63,542 | | | | (86,497 | ) | | | (1,223,626 | ) | | | 117,848 | |
| Change in net assets resulting from operations | | | 535,983 | | | | (1,137,137 | ) | | | 2,307,592 | | | | (2,054,348 | ) |
| DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions | | | | | | | | | | | | | | | | |
| Investor Class | | | — | | | | — | | | | — | | | | (423,244 | ) |
| Service Class | | | — | | | | — | | | | — | | | | (5,131 | ) |
| Change in net assets resulting from distributions | | | — | | | | — | | | | — | | | | (428,375 | ) |
| Change in net assets resulting from capital transactions | | | (1,029,567 | ) | | | (5,126,089 | ) | | | (2,731,478 | ) | | | (5,066,215 | ) |
| Change in net assets | | | (493,584 | ) | | | (6,263,226 | ) | | | (423,886 | ) | | | (7,548,938 | ) |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of period | | | 3,035,565 | | | | 9,298,791 | | | | 13,681,323 | | | | 21,230,261 | |
| End of period | | $ | 2,541,981 | | | $ | 3,035,565 | | | $ | 13,257,437 | | | $ | 13,681,323 | |
| CAPITAL TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | $ | 18,864,866 | | | $ | 26,925,590 | | | $ | 23,028,740 | | | $ | 64,108,360 | |
| Distributions reinvested | | | — | | | | — | | | | — | | | | 415,552 | |
| Value of shares redeemed | | | (19,923,033 | ) | | | (31,947,675 | ) | | | (25,672,925 | ) | | | (69,650,754 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | | 900,152 | | | | 1,156,323 | | | | 454,787 | | | | 950,601 | |
| Distributions reinvested | | | — | | | | — | | | | — | | | | 5,131 | |
| Value of shares redeemed | | | (871,552 | ) | | | (1,260,327 | ) | | | (542,080 | ) | | | (895,105 | ) |
| Change in net assets resulting from capital transactions | | $ | (1,029,567 | ) | | $ | (5,126,089 | ) | | $ | (2,731,478 | ) | | $ | (5,066,215 | ) |
| SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Issued | | | 1,132,852 | | | | 1,742,492 | | | | 962,228 | | | | 2,885,257 | |
| Reinvested | | | — | | | | — | | | | — | | | | 14,632 | |
| Redeemed | | | (1,178,674 | ) | | | (2,057,231 | ) | | | (1,045,484 | ) | | | (3,128,091 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Issued | | | 60,266 | | | | 81,084 | | | | 21,197 | | | | 47,982 | |
| Reinvested | | | — | | | | — | | | | — | | | | 210 | |
| Redeemed | | | (58,461 | ) | | | (89,086 | ) | | | (25,436 | ) | | | (45,385 | ) |
| Change in shares | | | (44,017 | ) | | | (322,741 | ) | | | (87,495 | ) | | | (225,395 | ) |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to the financial statements.
For the Periods Indicated:: Statements of Changes in Net Assets :: 225
| UltraLatin America ProFund | | | UltraMid-Cap ProFund | | | UltraNasdaq-100 ProFund | |
Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 291,104 | | | $ | 443,583 | | | $ | 64,599 | | | $ | 104,547 | | | $ | (864,991 | ) | | $ | (71,208 | ) |
| | (4,171,605 | ) | | | (2,164,314 | ) | | | 2,434,322 | | | | (2,485,968 | ) | | | 76,351,297 | | | | 14,430,439 | |
| | (805,474 | ) | | | 300,473 | | | | (898,836 | ) | | | (4,588,886 | ) | | | 61,307,375 | | | | 11,259,536 | |
| | (4,685,975 | ) | | | (1,420,258 | ) | | | 1,600,085 | | | | (6,970,307 | ) | | | 136,793,681 | | | | 25,618,767 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | (475,022 | ) | | | (455,847 | ) | | | (1,648,651 | ) | | | (62,365 | ) | | | (31,939,537 | ) | | | (22,651,996 | ) |
| | — | | | | — | | | | (19,080 | ) | | | (1,696 | ) | | | (891,205 | ) | | | (718,414 | ) |
| | (475,022 | ) | | | (455,847 | ) | | | (1,667,731 | ) | | | (64,061 | ) | | | (32,830,742 | ) | | | (23,370,410 | ) |
| | (875,630 | ) | | | (4,529,971 | ) | | | (15,198,761 | ) | | | (5,713,424 | ) | | | (1,071,963 | ) | | | 2,168,276 | |
| | (6,036,627 | ) | | | (6,406,076 | ) | | | (15,266,407 | ) | | | (12,747,792 | ) | | | 102,890,976 | | | | 4,416,633 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 31,641,195 | | | | 38,047,271 | | | | 81,250,485 | | | | 93,998,277 | | | | 516,790,742 | | | | 512,374,109 | |
| $ | 25,604,568 | | | $ | 31,641,195 | | | $ | 65,984,078 | | | $ | 81,250,485 | | | $ | 619,681,718 | | | $ | 516,790,742 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 59,173,685 | | | $ | 144,288,089 | | | $ | 135,953,583 | | | $ | 360,466,688 | | | $ | 1,253,403,876 | | | $ | 2,862,520,823 | |
| | 474,290 | | | | 452,132 | | | | 1,634,259 | | | | 61,384 | | | | 30,817,276 | | | | 21,819,789 | |
| | (60,548,448 | ) | | | (148,958,028 | ) | | | (152,659,796 | ) | | | (364,913,157 | ) | | | (1,285,461,842 | ) | | | (2,879,358,453 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 1,162,308 | | | | 2,293,064 | | | | 646,685 | | | | 22,862,315 | | | | 6,552,597 | | | | 48,552,537 | |
| | — | | | | — | | | | 18,608 | | | | 1,696 | | | | 875,193 | | | | 690,329 | |
| | (1,137,465 | ) | | | (2,605,228 | ) | | | (792,100 | ) | | | (24,192,350 | ) | | | (7,259,063 | ) | | | (52,056,749 | ) |
| $ | (875,630 | ) | | $ | (4,529,971 | ) | | $ | (15,198,761 | ) | | $ | (5,713,424 | ) | | $ | (1,071,963 | ) | | $ | 2,168,276 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 1,999,081 | | | | 4,468,924 | | | | 3,122,288 | | | | 8,695,897 | | | | 15,278,587 | | | | 40,660,778 | |
| | 14,222 | | | | 15,368 | | | | 34,560 | | | | 1,934 | | | | 344,289 | | | | 274,497 | |
| | (2,068,964 | ) | | | (4,614,789 | ) | | | (3,508,995 | ) | | | (8,837,027 | ) | | | (15,679,526 | ) | | | (41,141,674 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 41,720 | | | | 70,791 | | | | 17,877 | | | | 683,880 | | | | 96,716 | | | | 897,526 | |
| | — | | | | — | | | | 484 | | | | 65 | | | | 12,273 | | | | 10,620 | |
| | (41,682 | ) | | | (81,705 | ) | | | (22,211 | ) | | | (716,017 | ) | | | (108,816 | ) | | | (959,947 | ) |
| | (55,623 | ) | | | (141,411 | ) | | | (355,997 | ) | | | (171,268 | ) | | | (56,477 | ) | | | (258,200 | ) |
See accompanying notes to the financial statements.
226 :: Statements of Changes in Net Assets ::For the Periods Indicated
| | | UltraShort China ProFund | | | UltraShort Dow 30 ProFund | |
| | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | |
| FROM INVESTMENT ACTIVITIES: | | | | | | | | | | | | | | | | |
| OPERATIONS: | | | | | | | | | | | | | | | | |
| Net investment income (loss) | | $ | (91 | ) | | $ | 16,668 | | | $ | (2,352 | ) | | $ | 18,056 | |
| Net realized gains (losses) on investments | | | (206,708 | ) | | | (111,230 | ) | | | (456,099 | ) | | | (897,779 | ) |
| Change in net unrealized appreciation/depreciation on investments | | | 166,235 | | | | 52,304 | | | | (35,843 | ) | | | 85,890 | |
| Change in net assets resulting from operations | | | (40,564 | ) | | | (42,258 | ) | | | (494,294 | ) | | | (793,833 | ) |
| DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions | | | | | | | | | | | | | | | | |
| Investor Class | | | (14,251 | ) | | | — | | | | (13,291 | ) | | | — | |
| Change in net assets resulting from distributions | | | (14,251 | ) | | | — | | | | (13,291 | ) | | | — | |
| Change in net assets resulting from capital transactions | | | 5,334,764 | | | | 1,512,424 | | | | 65,695 | | | | 1,322,646 | |
| Change in net assets | | | 5,279,949 | | | | 1,470,166 | | | | (441,890 | ) | | | 528,813 | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of period | | | 3,578,157 | | | | 2,107,991 | | | | 4,670,291 | | | | 4,141,478 | |
| End of period | | $ | 8,858,106 | | | $ | 3,578,157 | | | $ | 4,228,401 | | | $ | 4,670,291 | |
| CAPITAL TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | $ | 45,288,336 | | | $ | 88,322,530 | | | $ | 18,660,350 | | | $ | 48,767,692 | |
| Distributions reinvested | | | 13,562 | | | | — | | | | 13,079 | | | | — | |
| Value of shares redeemed | | | (40,265,626 | ) | | | (86,608,565 | ) | | | (18,681,398 | ) | | | (47,386,512 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | | 854,901 | | | | 2,006,933 | | | | 75,611 | | | | 21,519 | |
| Value of shares redeemed | | | (556,409 | ) | | | (2,208,474 | ) | | | (1,947 | ) | | | (80,053 | ) |
| Change in net assets resulting from capital transactions | | $ | 5,334,764 | | | $ | 1,512,424 | | | $ | 65,695 | | | $ | 1,322,646 | |
| SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Issued | | | 1,085,681 | | | | 1,839,481 | | | | 1,285,017 | | | | 2,833,061 | |
| Reinvested | | | 388 | | | | — | | | | 1,006 | | | | — | |
| Redeemed | | | (930,524 | ) | | | (1,814,479 | ) | | | (1,280,929 | ) | | | (2,750,495 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Issued | | | 22,859 | | | | 49,502 | | | | 6,815 | | | | 1,386 | |
| Redeemed | | | (13,533 | ) | | | (50,350 | ) | | | (139 | ) | | | (4,654 | ) |
| Change in shares | | | 164,871 | | | | 24,154 | | | | 11,770 | | | | 79,298 | |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to the financial statements.
For the Periods Indicated:: Statements of Changes in Net Assets :: 227
| UltraShort Emerging Markets ProFund | | | UltraShort International ProFund | | | UltraShort Japan ProFund | |
Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | |
| |
| |
| $ | (7 | ) | | $ | 10,589 | | | $ | (506 | ) | | $ | 17,491 | | | $ | (1,350 | ) | | $ | 1,979 | |
| | (309,911 | ) | | | 133,490 | | | | (247,992 | ) | | | (955,564 | ) | | | (350,063 | ) | | | (134,373 | ) |
| | 15,176 | | | | 49,385 | | | | (26,564 | ) | | | 65,345 | | | | 71,688 | | | | 25,950 | |
| | (294,742 | ) | | | 193,464 | | | | (275,062 | ) | | | (872,728 | ) | | | (279,725 | ) | | | (106,444 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | (7,510 | ) | | | — | | | | (15,691 | ) | | | — | | | | — | | | | — | |
| | (7,510 | ) | | | — | | | | (15,691 | ) | | | — | | | | — | | | | — | |
| | 777,600 | | | | (295,364 | ) | | | 977,353 | | | | 893,745 | | | | 456,543 | | | | 406,028 | |
| | 475,348 | | | | (101,900 | ) | | | 686,600 | | | | 21,017 | | | | 176,818 | | | | 299,584 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 2,963,457 | | | | 3,065,357 | | | | 2,169,595 | | | | 2,148,578 | | | | 1,013,852 | | | | 714,268 | |
| $ | 3,438,805 | | | $ | 2,963,457 | | | $ | 2,856,195 | | | $ | 2,169,595 | | | $ | 1,190,670 | | | $ | 1,013,852 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 15,512,928 | | | $ | 38,627,451 | | | $ | 8,711,866 | | | $ | 57,644,989 | | | $ | 11,148,101 | | | $ | 37,176,372 | |
| | 7,415 | | | | — | | | | 15,607 | | | | — | | | | — | | | | — | |
| | (14,731,884 | ) | | | (38,908,512 | ) | | | (7,750,121 | ) | | | (56,669,970 | ) | | | (10,691,737 | ) | | | (36,751,792 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 286,319 | | | | 1,180,226 | | | | 176 | | | | 1,400,048 | | | | 9,293 | | | | 323,504 | |
| | (297,178 | ) | | | (1,194,529 | ) | | | (175 | ) | | | (1,481,322 | ) | | | (9,114 | ) | | | (342,056 | ) |
| $ | 777,600 | | | $ | (295,364 | ) | | $ | 977,353 | | | $ | 893,745 | | | $ | 456,543 | | | $ | 406,028 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 884,285 | | | | 1,915,322 | | | | 692,848 | | | | 3,873,488 | | | | 379,681 | | | | 1,106,708 | |
| | 526 | | | | — | | | | 1,373 | | | | — | | | | — | | | | — | |
| | (823,781 | ) | | | (1,924,645 | ) | | | (614,361 | ) | | | (3,878,651 | ) | | | (367,466 | ) | | | (1,097,144 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 16,701 | | | | 67,137 | | | | 17 | | | | 108,778 | | | | 298 | | | | 11,920 | |
| | (16,721 | ) | | | (67,807 | ) | | | (17 | ) | | | (110,083 | ) | | | (301 | ) | | | (11,942 | ) |
| | 61,010 | | | | (9,993 | ) | | | 79,860 | | | | (6,468 | ) | | | 12,212 | | | | 9,542 | |
See accompanying notes to the financial statements.
228 :: Statements of Changes in Net Assets ::For the Periods Indicated
| | | UltraShort Latin America ProFund | | | UltraShort Mid-Cap ProFund | |
| | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | |
| FROM INVESTMENT ACTIVITIES: | | | | | | | | | | | | | | | | |
| OPERATIONS: | | | | | | | | | | | | | | | | |
| Net investment income (loss) | | $ | (556 | ) | | $ | 17,941 | | | $ | (605 | ) | | $ | 9,330 | |
| Net realized gains (losses) on investments | | | 335,317 | | | | (1,333,919 | ) | | | (198,752 | ) | | | (439,123 | ) |
| Change in net unrealized appreciation/depreciation on investments | | | (100,957 | ) | | | 180,869 | | | | 37,150 | | | | 8,638 | |
| Change in net assets resulting from operations | | | 233,804 | | | | (1,135,109 | ) | | | (162,207 | ) | | | (421,155 | ) |
| DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions | | | | | | | | | | | | | | | | |
| Investor Class | | | (12,538 | ) | | | — | | | | (7,614 | ) | | | — | |
| Service Class | | | — | | | | — | | | | — | | | | — | |
| Change in net assets resulting from distributions | | | (12,538 | ) | | | — | | | | (7,614 | ) | | | — | |
| Change in net assets resulting from capital transactions | | | (1,554,179 | ) | | | 2,092,371 | | | | 71,209 | | | | 834,275 | |
| Change in net assets | | | (1,332,913 | ) | | | 957,262 | | | | (98,612 | ) | | | 413,120 | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of period | | | 4,742,209 | | | | 3,784,947 | | | | 1,491,249 | | | | 1,078,129 | |
| End of period | | $ | 3,409,296 | | | $ | 4,742,209 | | | $ | 1,392,637 | | | $ | 1,491,249 | |
| CAPITAL TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | $ | 37,167,220 | | | $ | 83,832,245 | | | $ | 9,234,026 | | | $ | 31,858,586 | |
| Distributions reinvested | | | 12,150 | | | | — | | | | 6,648 | | | | — | |
| Value of shares redeemed | | | (38,744,322 | ) | | | (81,740,438 | ) | | | (9,174,465 | ) | | | (31,064,156 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | | 1,393,938 | | | | 4,203,208 | | | | 5,000 | | | | 2,112,544 | |
| Distributions reinvested | | | — | | | | — | | | | — | | | | — | |
| Value of shares redeemed | | | (1,383,165 | ) | | | (4,202,644 | ) | | | — | | | | (2,072,699 | ) |
| Change in net assets resulting from capital transactions | | $ | (1,554,179 | ) | | $ | 2,092,371 | | | $ | 71,209 | | | $ | 834,275 | |
| SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Issued | | | 1,278,337 | | | | 2,745,367 | | | | 476,768 | | | | 1,363,545 | |
| Reinvested | | | 507 | | | | — | | | | 381 | | | | — | |
| Redeemed | | | (1,330,667 | ) | | | (2,682,436 | ) | | | (476,762 | ) | | | (1,340,589 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Issued | | | 53,336 | | | | 150,532 | | | | 313 | | | | 108,233 | |
| Reinvested | | | — | | | | — | | | | — | | | | — | |
| Redeemed | | | (53,763 | ) | | | (150,390 | ) | | | — | | | | (107,895 | ) |
| Change in shares | | | (52,250 | ) | | | 63,073 | | | | 700 | | | | 23,294 | |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to the financial statements.
For the Periods Indicated:: Statements of Changes in Net Assets :: 229
| UltraShort Nasdaq-100 ProFund | | | UltraShort Small-Cap ProFund | | | UltraSmall-Cap ProFund | |
Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | |
| $ | (6,589 | ) | | $ | 69,660 | | | $ | (2,807 | ) | | $ | 22,897 | | | $ | (27,827 | ) | | $ | 129,855 | |
| | (4,590,688 | ) | | | (1,148,943 | ) | | | (596,228 | ) | | | (952,725 | ) | | | 1,756,701 | | | | (6,387,746 | ) |
| | (844,514 | ) | | | 241,976 | | | | 279,325 | | | | 71,869 | | | | 345,346 | | | | (6,962,147 | ) |
| | (5,441,791 | ) | | | (837,307 | ) | | | (319,710 | ) | | | (857,959 | ) | | | 2,074,220 | | | | (13,220,038 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | (48,964 | ) | | | — | | | | (17,184 | ) | | | — | | | | — | | | | (37,186 | ) |
| | — | | | | — | | | | — | | | | — | | | | — | | | | (192 | ) |
| | (48,964 | ) | | | — | | | | (17,184 | ) | | | — | | | | — | | | | (37,378 | ) |
| | 4,922,617 | | | | 3,782,436 | | | | 1,593,216 | | | | 1,387,114 | | | | (19,590,546 | ) | | | 5,007,721 | |
| | (568,138 | ) | | | 2,945,129 | | | | 1,256,322 | | | | 529,155 | | | | (17,516,326 | ) | | | (8,249,695 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 15,463,396 | | | | 12,518,267 | | | | 4,698,452 | | | | 4,169,297 | | | | 62,562,043 | | | | 70,811,738 | |
| $ | 14,895,258 | | | $ | 15,463,396 | | | $ | 5,954,774 | | | $ | 4,698,452 | | | $ | 45,045,717 | | | $ | 62,562,043 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 196,441,473 | | | $ | 363,135,460 | | | $ | 47,974,306 | | | $ | 95,428,111 | | | $ | 382,971,090 | | | $ | 1,315,272,254 | |
| | 45,737 | | | | — | | | | 16,370 | | | | — | | | | — | | | | 34,394 | |
| | (191,645,986 | ) | | | (359,783,529 | ) | | | (46,323,211 | ) | | | (94,303,353 | ) | | | (402,417,148 | ) | | | (1,309,041,916 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 4,901,916 | | | | 8,165,439 | | | | 2,235,583 | | | | 11,523,514 | | | | 2,960,039 | | | | 16,710,989 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | 192 | |
| | (4,820,523 | ) | | | (7,734,934 | ) | | | (2,309,832 | ) | | | (11,261,158 | ) | | | (3,104,527 | ) | | | (17,968,192 | ) |
| $ | 4,922,617 | | | $ | 3,782,436 | | | $ | 1,593,216 | | | $ | 1,387,114 | | | $ | (19,590,546 | ) | | $ | 5,007,721 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 15,868,847 | | | | 24,069,591 | | | | 1,610,754 | | | | 2,860,495 | | | | 6,747,868 | | | | 22,528,198 | |
| | 4,569 | | | | — | | | | 617 | | | | — | | | | — | | | | 803 | |
| | (15,507,357 | ) | | | (23,651,581 | ) | | | (1,554,539 | ) | | | (2,848,986 | ) | | | (7,072,323 | ) | | | (22,460,012 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 428,432 | | | | 567,216 | | | | 72,560 | | | | 354,486 | | | | 65,267 | | | | 344,881 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | 5 | |
| | (421,237 | ) | | | (530,686 | ) | | | (70,212 | ) | | | (352,953 | ) | | | (66,881 | ) | | | (367,489 | ) |
| | 373,254 | | | | 454,540 | | | | 59,180 | | | | 13,042 | | | | (326,069 | ) | | | 46,386 | |
See accompanying notes to the financial statements.
230 :: Statements of Changes in Net Assets ::For the Periods Indicated
| | | Utilities UltraSector ProFund | |
| | | Six Months
Ended
January 31,
2020
(unaudited) | | | Year Ended
July 31, 2019 | |
| FROM INVESTMENT ACTIVITIES: | | | | | | | | |
| OPERATIONS: | | | | | | | | |
| Net investment income (loss) | | $ | 323,566 | | | $ | 367,195 | |
| Net realized gains (losses) on investments | | | (2,214,452 | ) | | | 1,180,599 | |
| Change in net unrealized appreciation/depreciation on investments | | | 2,940,040 | | | | 1,753,593 | |
| Change in net assets resulting from operations | | | 1,049,154 | | | | 3,301,387 | |
| DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | |
| Total distributions | | | | | | | | |
| Investor Class | | | (471,639 | ) | | | (270,878 | ) |
| Service Class | | | (18,129 | ) | | | — | |
| Change in net assets resulting from distributions | | | (489,768 | ) | | | (270,878 | ) |
| Change in net assets resulting from capital transactions | | | 2,866,413 | | | | 20,950,114 | |
| Change in net assets | | | 3,425,799 | | | | 23,980,623 | |
| NET ASSETS: | | | | | | | | |
| Beginning of period | | | 32,823,507 | | | | 8,842,884 | |
| End of period | | $ | 36,249,306 | | | $ | 32,823,507 | |
| CAPITAL TRANSACTIONS: | | | | | | | | |
| Investor Class | | | | | | | | |
| Proceeds from shares issued | | $ | 179,407,410 | | | $ | 197,220,426 | |
| Distributions reinvested | | | 469,736 | | | | 246,555 | |
| Value of shares redeemed | | | (176,872,773 | ) | | | (177,012,024 | ) |
| Service Class | | | | | | | | |
| Proceeds from shares issued | | | 1,526,516 | | | | 2,468,874 | |
| Distributions reinvested | | | 17,271 | | | | — | |
| Value of shares redeemed | | | (1,681,747 | ) | | | (1,973,717 | ) |
| Change in net assets resulting from capital transactions | | $ | 2,866,413 | | | $ | 20,950,114 | |
| SHARE TRANSACTIONS: | | | | | | | | |
| Investor Class | | | | | | | | |
| Issued | | | 2,973,360 | | | | 4,016,704 | |
| Reinvested | | | 7,881 | | | | 5,440 | |
| Redeemed | | | (3,031,882 | ) | | | (3,618,605 | ) |
| Service Class | | | | | | | | |
| Issued | | | 27,606 | | | | 52,537 | |
| Reinvested | | | 309 | | | | — | |
| Redeemed | | | (30,333 | ) | | | (42,406 | ) |
| Change in shares | | | (53,059 | ) | | | 413,670 | |
Amounts designated as “—” are $0 of have been rounded to $0.
See accompanying notes to the financial statements.
Financial Highlights
232 :: Financial Highlights
ProFunds Financial HighlightsFOR THE PERIODS INDICATED
Selected data for a share of beneficial interest outstanding throughout the periods indicated.
| | | | | | Investment Activities | | | Distributions to
Shareholders From | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income
(Loss)(a) | | | Net
Realized
and
Unrealized
Gains
(Losses) on
Investments | | | Total from
Investment
Activities | | | Net
Investment
Income | | | Total
Distributions | |
| Banks UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 50.38 | | | | 0.25 | | | | 2.92 | | | | 3.17 | | | | (0.23 | ) | | | (0.23 | ) |
| Year Ended July 31, 2019 | | $ | 54.83 | | | | 0.42 | | | | (4.28 | ) | | | (3.86 | ) | | | (0.59 | ) | | | (0.59 | ) |
| Year Ended July 31, 2018 | | $ | 44.79 | | | | 0.16 | | | | 9.88 | | | | 10.04 | | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 27.42 | | | | (0.02 | ) | | | 17.39 | | | | 17.37 | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 34.89 | | | | (0.03 | ) | | | (7.44 | ) | | | (7.47 | ) | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 28.29 | | | | (0.14 | ) | | | 6.74 | | | | 6.60 | | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 46.98 | | | | 0.01 | | | | 2.66 | | | | 2.67 | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 50.85 | | | | (0.03 | ) | | | (3.84 | ) | | | (3.87 | ) | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 41.95 | | | | (0.33 | ) | | | 9.23 | | | | 8.90 | | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 25.94 | | | | (0.38 | ) | | | 16.39 | | | | 16.01 | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 33.36 | | | | (0.32 | ) | | | (7.10 | ) | | | (7.42 | ) | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 27.32 | | | | (0.45 | ) | | | 6.49 | | | | 6.04 | | | | — | | | | — | |
| Basic Materials UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 63.98 | | | | 0.02 | | | | (3.18 | ) | | | (3.16 | ) | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 74.26 | | | | 0.12 | | | | (10.40 | ) | | | (10.28 | ) | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 63.66 | | | | (0.11 | ) | | | 10.71 | | | | 10.60 | | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 52.40 | | | | 0.13 | | | | 11.22 | | | | 11.35 | | | | (0.09 | )(f) | | | (0.09 | ) |
| Year Ended July 31, 2016 | | $ | 47.81 | | | | (0.01 | ) | | | 4.60 | | | | 4.59 | | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 57.89 | | | | (0.14 | ) | | | (9.94 | ) | | | (10.08 | ) | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 57.02 | | | | (0.27 | ) | | | (2.82 | ) | | | (3.09 | ) | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 66.85 | | | | (0.45 | ) | | | (9.38 | ) | | | (9.83 | ) | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 57.88 | | | | (0.77 | ) | | | 9.74 | | | | 8.97 | | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 48.03 | | | | (0.38 | ) | | | 10.23 | | | | 9.85 | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 44.26 | | | | (0.44 | ) | | | 4.21 | | | | 3.77 | | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 54.13 | | | | (0.66 | ) | | | (9.21 | ) | | | (9.87 | ) | | | — | | | | — | |
| | | | | | | | | | Ratios to
Average Net Assets | | | | Supplemental
Data | |
| | Net
Asset
Value,
End of
Period | | | | Total
Return | | | | Gross
Expenses(b) | | | | Net
Expenses(b) | | | | Net
Investment
Income
(Loss)(b) | | | | Net
Assets,
End of
Period
(000's) | | | | Portfolio
Turnover
Rate(c) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 53.32 | | | | 6.24 | %(d) | | | 1.68 | % | | | 1.68 | % | | | 0.94 | % | | $ | 10,515 | | | | 110 | %(d) |
| $ | 50.38 | | | | (6.69 | )% | | | 1.80 | % | | | 1.80 | % | | | 0.88 | % | | $ | 9,484 | | | | 75 | % |
| $ | 54.83 | | | | 22.39 | % | | | 1.54 | % | | | 1.54 | % | | | 0.30 | % | | $ | 18,887 | | | | 293 | % |
| $ | 44.79 | | | | 63.38 | % | | | 1.55 | % | | | 1.55 | % | | | (0.06 | )% | | $ | 16,953 | | | | 252 | % |
| $ | 27.42 | | | | (21.41 | )% | | | 1.76 | % | | | 1.72 | % | | | (0.09 | )% | | $ | 6,004 | | | | 186 | % |
| $ | 34.89 | | | | 23.33 | % | | | 1.76 | % | | | 1.76 | % | | | (0.44 | )% | | $ | 56,794 | | | | 91 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 49.65 | | | | 5.71 | %(d) | | | 2.68 | % | | | 2.68 | % | | | (0.06 | )% | | $ | 500 | | | | 110 | %(d) |
| $ | 46.98 | | | | (7.63 | )% | | | 2.80 | % | | | 2.80 | % | | | (0.12 | )% | | $ | 769 | | | | 75 | % |
| $ | 50.85 | | | | 21.22 | % | | | 2.54 | % | | | 2.54 | % | | | (0.70 | )% | | $ | 964 | | | | 293 | % |
| $ | 41.95 | | | | 61.66 | % | | | 2.55 | % | | | 2.55 | % | | | (1.06 | )% | | $ | 1,076 | | | | 252 | % |
| $ | 25.94 | | | | (22.21 | )% | | | 2.76 | % | | | 2.72 | % | | | (1.09 | )% | | $ | 469 | | | | 186 | % |
| $ | 33.36 | | | | 22.11 | % | | | 2.76 | % | | | 2.76 | % | | | (1.44 | )% | | $ | 6,112 | | | | 91 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 60.82 | | | | (4.94 | )%(d) | | | 2.27 | % | | | 1.90 | % | | | 0.05 | % | | $ | 3,459 | | | | 40 | %(d) |
| $ | 63.98 | | | | (13.84 | )% | | | 2.15 | % | | | 2.05 | %(e) | | | 0.19 | % | | $ | 4,637 | | | | 179 | % |
| $ | 74.26 | | | | 16.65 | % | | | 1.67 | % | | | 1.67 | % | | | (0.15 | )% | | $ | 7,427 | | | | 460 | % |
| $ | 63.66 | | | | 21.68 | % | | | 1.67 | % | | | 1.61 | % | | | 0.23 | % | | $ | 8,266 | | | | 179 | % |
| $ | 52.40 | | | | 9.60 | % | | | 1.58 | % | | | 1.58 | % | | | (0.02 | )% | | $ | 46,334 | | | | 163 | % |
| $ | 47.81 | | | | (17.41 | )% | | | 1.81 | % | | | 1.81 | % | | | (0.25 | )% | | $ | 9,500 | | | | 85 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 53.93 | | | | (5.42 | )%(d) | | | 3.27 | % | | | 2.90 | % | | | (0.95 | )% | | $ | 309 | | | | 40 | %(d) |
| $ | 57.02 | | | | (14.72 | )% | | | 3.15 | % | | | 3.05 | %(e) | | | (0.81 | )% | | $ | 316 | | | | 179 | % |
| $ | 66.85 | | | | 15.49 | % | | | 2.67 | % | | | 2.67 | % | | | (1.15 | )% | | $ | 601 | | | | 460 | % |
| $ | 57.88 | | | | 20.50 | % | | | 2.66 | % | | | 2.60 | % | | | (0.76 | )% | | $ | 639 | | | | 179 | % |
| $ | 48.03 | | | | 8.54 | % | | | 2.58 | % | | | 2.58 | % | | | (1.02 | )% | | $ | 4,599 | | | | 163 | % |
| $ | 44.26 | | | | (18.23 | )% | | | 2.81 | % | | | 2.81 | % | | | (1.25 | )% | | $ | 2,641 | | | | 85 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Annualized for periods less than one year. |
| (c) | Portfolio turnover rate is calculated without regard to instruments having a maturity of less than one year from acquisition or derivative instruments (including swap agreements and futures contracts). The portfolio turnover rate can be high and volatile due to the amount and timing of sales and purchases of fund shares during the period. Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between classes of shares issued. |
| (d) | Not annualized for periods less than one year. |
| (e) | The expense ratio does not correlate to the applicable expense limits in place during the period given that the annual contractual expense limitation is applied for the one year periods ended November 30th of each year, instead of coinciding with the July 31st year end. Details of the current expense limitation in effect can be found in Note 4 of the accompanying Notes to Financial Statements. |
| (f) | Subsequent to the issuance of the July 31, 2017 financial statements, $0.09 of the distribution was determined to be a return of capital. |
See accompanying notes to the financial statements.
Financial Highlights :: 233
ProFunds Financial HighlightsFOR THE PERIODS INDICATED
Selected data for a share of beneficial interest outstanding throughout the periods indicated.
| | | | | | Investment Activities | | | Distributions to Shareholders From | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income
(Loss)(a) | | | Net
Realized
and
Unrealized
Gains
(Losses) on
Investments | | | Total from
Investment
Activities | | | Net
Investment
Income | | | Net
Realized
Gains on
Investments | | | Total
Distributions | |
| Bear ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 28.37 | | | | (0.02 | ) | | | (2.37 | ) | | | (2.39 | ) | | | (0.07 | ) | | | — | | | | (0.07 | ) |
| Year Ended July 31, 2019 | | $ | 30.45 | | | | 0.14 | | | | (2.22 | ) | | | (2.08 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 35.46 | | | | (0.11 | ) | | | (4.90 | ) | | | (5.01 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2017(e) | | $ | 41.56 | | | | (0.41 | ) | | | (5.69 | ) | | | (6.10 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016(e) | | $ | 45.82 | | | | (0.60 | ) | | | (3.66 | ) | | | (4.26 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015(e) | | $ | 52.42 | | | | (0.75 | ) | | | (5.85 | ) | | | (6.60 | ) | | | — | | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 26.23 | | | | (0.15 | ) | | | (2.17 | ) | | | (2.32 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 28.44 | | | | (0.14 | ) | | | (2.07 | ) | | | (2.21 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 33.46 | | | | (0.42 | ) | | | (4.60 | ) | | | (5.02 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2017(e) | | $ | 39.62 | | | | (0.79 | ) | | | (5.37 | ) | | | (6.16 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016(e) | | $ | 44.10 | | | | (1.05 | ) | | | (3.43 | ) | | | (4.48 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015(e) | | $ | 50.98 | | | | (1.25 | ) | | | (5.63 | ) | | | (6.88 | ) | | | — | | | | — | | | | — | |
| Biotechnology UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 51.90 | | | | 0.01 | | | | 6.43 | | | | 6.44 | | | | — | | | | (2.03 | ) | | | (2.03 | ) |
| Year Ended July 31, 2019 | | $ | 66.16 | | | | 0.11 | | | | (11.50 | ) | | | (11.39 | ) | | | — | | | | (2.87 | ) | | | (2.87 | ) |
| Year Ended July 31, 2018 | | $ | 63.85 | | | | (0.05 | ) | | | 6.85 | | | | 6.80 | | | | — | | | | (4.49 | ) | | | (4.49 | ) |
| Year Ended July 31, 2017 | | $ | 56.32 | | | | (0.15 | ) | | | 7.68 | | | | 7.53 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 77.84 | | | | (0.32 | ) | | | (21.20 | ) | | | (21.52 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 55.20 | | | | (0.69 | ) | | | 29.94 | | | | 29.25 | | | | — | | | | (6.61 | ) | | | (6.61 | ) |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 40.29 | | | | (0.21 | ) | | | 5.04 | | | | 4.83 | | | | — | | | | (2.03 | ) | | | (2.03 | ) |
| Year Ended July 31, 2019 | | $ | 52.66 | | | | (0.35 | ) | | | (9.15 | ) | | | (9.50 | ) | | | — | | | | (2.87 | ) | | | (2.87 | ) |
| Year Ended July 31, 2018 | | $ | 52.18 | | | | (0.58 | ) | | | 5.55 | | | | 4.97 | | | | — | | | | (4.49 | ) | | | (4.49 | ) |
| Year Ended July 31, 2017 | | $ | 46.48 | | | | (0.60 | ) | | | 6.30 | | | | 5.70 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 64.89 | | | | (0.80 | ) | | | (17.61 | ) | | | (18.41 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 47.31 | | | | (1.27 | ) | | | 25.46 | | | | 24.19 | | | | — | | | | (6.61 | ) | | | (6.61 | ) |
| | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
Net
Asset
Value,
End of
Period | | | Total
Return | | | Gross
Expenses(b) | | | Net
Expenses(b) | | | Net
Investment
Income
(Loss)(b) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(c) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 25.91 | | | | (8.42 | )%(d) | | | 1.89 | % | | | 1.89 | % | | | (0.18 | )% | | $ | 14,289 | | | | — | |
| $ | 28.37 | | | | (6.83 | )% | | | 1.77 | % | | | 1.77 | % | | | 0.48 | % | | $ | 19,388 | | | | — | |
| $ | 30.45 | | | | (14.13 | )% | | | 1.59 | % | | | 1.59 | % | | | (0.34 | )% | | $ | 12,790 | | | | — | |
| $ | 35.46 | | | | (14.66 | )% | | | 1.63 | % | | | 1.63 | % | | | (1.07 | )% | | $ | 45,370 | | | | — | |
| $ | 41.56 | | | | (9.28 | )% | | | 1.54 | % | | | 1.54 | % | | | (1.37 | )% | | $ | 17,069 | | | | — | |
| $ | 45.82 | | | | (12.60 | )% | | | 1.62 | % | | | 1.62 | % | | | (1.59 | )% | | $ | 45,711 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 23.91 | | | | (8.84 | )%(d) | | | 2.89 | % | | | 2.89 | % | | | (1.18 | )% | | $ | 698 | | | | — | |
| $ | 26.23 | | | | (7.77 | )% | | | 2.77 | % | | | 2.77 | % | | | (0.52 | )% | | $ | 761 | | | | — | |
| $ | 28.44 | | | | (15.00 | )% | | | 2.59 | % | | | 2.59 | % | | | (1.34 | )% | | $ | 659 | | | | — | |
| $ | 33.46 | | | | (15.51 | )% | | | 2.63 | % | | | 2.63 | % | | | (2.07 | )% | | $ | 2,667 | | | | — | |
| $ | 39.62 | | | | (10.20 | )% | | | 2.54 | % | | | 2.54 | % | | | (2.37 | )% | | $ | 11,641 | | | | — | |
| $ | 44.10 | | | | (13.53 | )% | | | 2.62 | % | | | 2.62 | % | | | (2.59 | )% | | $ | 7,289 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 56.31 | | | | 11.96 | %(d) | | | 1.62 | % | | | 1.62 | % | | | 0.04 | % | | $ | 162,560 | | | | 24 | %(d) |
| $ | 51.90 | | | | (17.10 | )% | | | 1.52 | % | | | 1.52 | % | | | 0.19 | % | | $ | 161,970 | | | | 23 | % |
| $ | 66.16 | | | | 10.94 | % | | | 1.43 | % | | | 1.43 | % | | | (0.08 | )% | | $ | 246,238 | | | | 11 | % |
| $ | 63.85 | | | | 13.37 | % | | | 1.45 | % | | | 1.45 | % | | | (0.28 | )% | | $ | 320,937 | | | | 14 | % |
| $ | 56.32 | | | | (27.65 | )% | | | 1.47 | % | | | 1.47 | % | | | (0.55 | )% | | $ | 397,476 | | | | 13 | % |
| $ | 77.84 | | | | 55.52 | % | | | 1.52 | % | | | 1.52 | % | | | (1.01 | )% | | $ | 812,065 | | | | 11 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 43.09 | | | | 11.41 | %(d) | | | 2.62 | % | | | 2.62 | % | | | (0.96 | )% | | $ | 5,867 | | | | 24 | %(d) |
| $ | 40.29 | | | | (17.93 | )% | | | 2.52 | % | | | 2.52 | % | | | (0.80 | )% | | $ | 5,559 | | | | 23 | % |
| $ | 52.66 | | | | 9.83 | % | | | 2.43 | % | | | 2.43 | % | | | (1.08 | )% | | $ | 9,183 | | | | 11 | % |
| $ | 52.18 | | | | 12.26 | % | | | 2.45 | % | | | 2.45 | % | | | (1.28 | )% | | $ | 12,721 | | | | 14 | % |
| $ | 46.48 | | | | (28.37 | )% | | | 2.47 | % | | | 2.47 | % | | | (1.55 | )% | | $ | 17,643 | | | | 13 | % |
| $ | 64.89 | | | | 53.98 | % | | | 2.52 | % | | | 2.52 | % | | | (2.01 | )% | | $ | 45,648 | | | | 11 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Annualized for periods less than one year. |
| (c) | Portfolio turnover rate is calculated without regard to instruments having a maturity of less than one year from acquisition or derivative instruments (including swap agreements and futures contracts). The portfolio turnover rate can be high and volatile due to the amount and timing of sales and purchases of fund shares during the period. Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between classes of shares issued. |
| (d) | Not annualized for periods less than one year. |
| (e) | As described in Note 9, share amounts have been adjusted for 1:5 reverse share split that occurred on December 5, 2016. |
See accompanying notes to the financial statements.
234 :: Financial Highlights
ProFunds Financial HighlightsFOR THE PERIODS INDICATED
Selected data for a share of beneficial interest outstanding throughout the periods indicated.
| | | | | | Investment Activities | | | Distributions to Shareholders From | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income
(Loss)(a) | | | Net
Realized
and
Unrealized
Gains
(Losses) on
Investments | | | Total from
Investment
Activities | | | Net
Investment
Income | | | Net
Realized
Gains on
Investments | | | Total
Distributions | |
| Bull ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited)(d) | | $ | 45.33 | | | | 0.06 | | | | 3.68 | | | | 3.74 | | | | (0.18 | ) | | | (0.62 | ) | | | (0.80 | ) |
| Year Ended July 31, 2019(d) | | $ | 42.99 | | | | 0.23 | | | | 2.35 | | | | 2.58 | | | | — | | | | (0.24 | ) | | | (0.24 | ) |
| Year Ended July 31, 2018(d) | | $ | 37.65 | | | | 0.08 | | | | 5.27 | | | | 5.34 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2017(d) | | $ | 33.11 | | | | (0.15 | ) | | | 4.69 | | | | 4.54 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016(d) | | $ | 31.96 | | | | (0.09 | ) | | | 1.24 | | | | 1.15 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015(d) | | $ | 29.26 | | | | (0.10 | ) | | | 2.80 | | | | 2.70 | | | | — | | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited)(d) | | $ | 37.50 | | | | (0.14 | ) | | | 3.02 | | | | 2.88 | | | | — | | | | (0.62 | ) | | | (0.62 | ) |
| Year Ended July 31, 2019(d) | | $ | 35.96 | | | | (0.12 | ) | | | 1.90 | | | | 1.78 | | | | — | | | | (0.24 | ) | | | (0.24 | ) |
| Year Ended July 31, 2018(d) | | $ | 31.80 | | | | (0.25 | ) | | | 4.41 | | | | 4.16 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2017(d) | | $ | 28.25 | | | | (0.45 | ) | | | 4.00 | | | | 3.55 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016(d) | | $ | 27.54 | | | | (0.36 | ) | | | 1.07 | | | | 0.71 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015(d) | | $ | 25.46 | | | | (0.37 | ) | | | 2.45 | | | | 2.08 | | | | — | | | | — | | | | — | |
| Communication Services UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 92.86 | | | | (0.50 | ) | | | 7.85 | | | | 7.35 | | | | (2.88 | ) | | | — | | | | (2.88 | ) |
| Year Ended July 31, 2019 | | $ | 72.76 | | | | 2.15 | | | | 17.95 | | | | 20.10 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 72.31 | | | | 0.03 | | | | 0.42 | | | | 0.45 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 61.09 | | | | (1.02 | ) | | | 12.24 | | | | 11.22 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 55.37 | | | | (0.78 | ) | | | 6.50 | | | | 5.72 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 54.60 | | | | (0.82 | ) | | | 1.59 | | | | 0.77 | | | | — | | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 76.53 | | | | (0.89 | ) | | | 6.53 | | | | 5.64 | | | | (1.80 | ) | | | — | | | | (1.80 | ) |
| Year Ended July 31, 2019 | | $ | 60.55 | | | | 1.45 | | | | 14.53 | | | | 15.98 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 60.80 | | | | (0.54 | ) | | | 0.29 | | | | (0.25 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 51.86 | | | | (1.62 | ) | | | 10.56 | | | | 8.94 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 47.47 | | | | (1.20 | ) | | | 5.59 | | | | 4.39 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 47.30 | | | | (1.27 | ) | | | 1.44 | | | | 0.17 | | | | — | | | | — | | | | — | |
| | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
Net
Asset
Value,
End of
Period | | | Total
Return | | | Gross
Expenses(b) | | | Net
Expenses(b) | | | Net
Investment
Income
(Loss)(b) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(c) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 48.27 | | | | 8.25 | %(e) | | | 1.64 | % | | | 1.64 | % | | | 0.25 | % | | $ | 62,545 | | | | 50 | %(e) |
| $ | 45.33 | | | | 5.99 | % | | | 1.54 | % | | | 1.54 | % | | | 0.54 | % | | $ | 61,121 | | | | 3 | % |
| $ | 42.99 | | | | 14.20 | % | | | 1.44 | % | | | 1.44 | % | | | 0.21 | % | | $ | 47,074 | | | | 26 | % |
| $ | 37.65 | | | | 13.68 | % | | | 1.58 | % | | | 1.58 | % | | | (0.44 | )% | | $ | 80,095 | | | | 4 | % |
| $ | 33.11 | | | | 3.61 | % | | | 1.58 | % | | | 1.58 | % | | | (0.31 | )% | | $ | 57,666 | | | | 368 | % |
| $ | 31.96 | | | | 9.26 | % | | | 1.59 | % | | | 1.59 | % | | | (0.34 | )% | | $ | 61,512 | | | | 154 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 39.76 | | | | 7.68 | %(e) | | | 2.64 | % | | | 2.64 | % | | | (0.75 | )% | | $ | 4,432 | | | | 50 | %(e) |
| $ | 37.50 | | | | 4.93 | % | | | 2.54 | % | | | 2.54 | % | | | (0.45 | )% | | $ | 4,232 | | | | 3 | % |
| $ | 35.96 | | | | 13.08 | % | | | 2.43 | % | | | 2.43 | % | | | (0.78 | )% | | $ | 4,676 | | | | 26 | % |
| $ | 31.80 | | | | 12.55 | % | | | 2.58 | % | | | 2.58 | % | | | (1.44 | )% | | $ | 8,533 | | | | 4 | % |
| $ | 28.25 | | | | 2.60 | % | | | 2.58 | % | | | 2.58 | % | | | (1.31 | )% | | $ | 5,380 | | | | 368 | % |
| $ | 27.54 | | | | 8.16 | % | | | 2.59 | % | | | 2.59 | % | | | (1.34 | )% | | $ | 7,792 | | | | 154 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 97.33 | | | | 7.93 | %(e) | | | 2.69 | % | | | 2.22 | %(f) | | | (1.08 | )% | | $ | 7,132 | | | | 50 | %(e) |
| $ | 92.86 | | | | 27.62 | % | | | 1.62 | % | | | 1.62 | % | | | 2.51 | % | | $ | 10,109 | | | | 805 | % |
| $ | 72.76 | | | | 0.62 | % | | | 2.22 | % | | | 1.78 | % | | | 0.05 | % | | $ | 5,680 | | | | 818 | % |
| $ | 72.31 | | | | 18.37 | % | | | 1.82 | % | | | 1.78 | % | | | (1.46 | )% | | $ | 7,108 | | | | 562 | % |
| $ | 61.09 | | | | 10.35 | % | | | 2.10 | % | | | 1.78 | % | | | (1.59 | )% | | $ | 5,209 | | | | 962 | % |
| $ | 55.37 | | | | 1.39 | % | | | 2.01 | % | | | 1.78 | % | | | (1.65 | )% | | $ | 4,747 | | | | 420 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 80.37 | | | | 7.38 | %(e) | | | 3.69 | % | | | 3.22 | %(f) | | | (2.08 | )% | | $ | 157 | | | | 50 | %(e) |
| $ | 76.53 | | | | 26.35 | % | | | 2.62 | % | | | 2.62 | % | | | 1.51 | % | | $ | 166 | | | | 805 | % |
| $ | 60.55 | | | | (0.38 | )% | | | 3.22 | % | | | 2.78 | % | | | (0.95 | )% | | $ | 123 | | | | 818 | % |
| $ | 60.80 | | | | 17.22 | % | | | 2.82 | % | | | 2.78 | % | | | (2.46 | )% | | $ | 313 | | | | 562 | % |
| $ | 51.86 | | | | 9.27 | % | | | 3.10 | % | | | 2.78 | % | | | (2.59 | )% | | $ | 1,236 | | | | 962 | % |
| $ | 47.47 | | | | 0.36 | % | | | 3.01 | % | | | 2.78 | % | | | (2.65 | )% | | $ | 183 | | | | 420 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Annualized for periods less than one year. |
| (c) | Portfolio turnover rate is calculated without regard to instruments having a maturity of less than one year from acquisition or derivative instruments (including swap agreements and futures contracts). The portfolio turnover rate can be high and volatile due to the amount and timing of sales and purchases of fund shares during the period. Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between classes of shares issued. |
| (d) | As described in Note 9, share amounts have been adjusted for 3:1 share split that occurred on November 18, 2019. |
| (e) | Not annualized for periods less than one year. |
| (f) | The expense ratio does not correlate to the applicable expense limits in place during the period given that the annual contractual expense limitation is applied for the one year periods ended November 30th of each year, instead of coinciding with the July 31st year end. Details of the current expense limitation in effect can be found in Note 4 of the accompanying Notes to Financial Statements. |
See accompanying notes to the financial statements.
Financial Highlights :: 235
ProFunds Financial HighlightsFOR THE PERIODS INDICATED
Selected data for a share of beneficial interest outstanding throughout the periods indicated.
| | | | | | Investment Activities | | | Distributions to Shareholders From | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income
(Loss)(a) | | | Net
Realized
and
Unrealized
Gains
(Losses) on
Investments | | | Total from
Investment
Activities | | | Net
Investment
Income | | | Net
Realized
Gains on
Investments | | | Total
Distributions | |
| Consumer Goods UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 106.18 | | | | 0.30 | | | | 13.35 | | | | 13.65 | | | | — | | | | (3.20 | ) | | | (3.20 | ) |
| Year Ended July 31, 2019 | | $ | 102.40 | | | | 0.14 | | | | 5.02 | | | | 5.16 | | | | (1.38 | ) | | | — | | | | (1.38 | ) |
| Year Ended July 31, 2018 | | $ | 106.08 | | | | 0.46 | | | | (2.30 | ) | | | (1.84 | ) | | | (0.08 | ) | | | (1.76 | ) | | | (1.84 | ) |
| Year Ended July 31, 2017 | | $ | 98.42 | | | | 0.19 | | | | 7.47 | | | | 7.66 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 87.62 | | | | (0.13 | ) | | | 11.37 | | | | 11.24 | | | | (0.44 | )(e) | | | — | | | | (0.44 | ) |
| Year Ended July 31, 2015 | | $ | 72.19 | | | | 0.54 | | | | 15.00 | | | | 15.54 | | | | — | | | | (0.11 | ) | | | (0.11 | ) |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 96.58 | | | | (0.20 | ) | | | 12.05 | | | | 11.85 | | | | — | | | | (3.20 | ) | | | (3.20 | ) |
| Year Ended July 31, 2019 | | $ | 92.88 | | | | (0.73 | ) | | | 4.71 | | | | 3.98 | | | | (0.28 | ) | | | — | | | | (0.28 | ) |
| Year Ended July 31, 2018 | | $ | 97.24 | | | | (0.49 | ) | | | (2.11 | ) | | | (2.60 | ) | | | — | | | | (1.76 | ) | | | (1.76 | ) |
| Year Ended July 31, 2017 | | $ | 91.12 | | | | (0.70 | ) | | | 6.82 | | | | 6.12 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 81.54 | | | | (0.96 | ) | | | 10.54 | | | | 9.58 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 67.86 | | | | (0.23 | ) | | | 14.02 | | | | 13.79 | | | | — | | | | (0.11 | ) | | | (0.11 | ) |
| Consumer Services UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited)(f) | | $ | 46.43 | | | | (0.08 | ) | | | 2.18 | (g) | | | 2.10 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2019(f) | | $ | 43.14 | | | | (0.06 | ) | | | 5.21 | | | | 5.15 | | | | — | | | | (1.86 | ) | | | (1.86 | ) |
| Year Ended July 31, 2018(f) | | $ | 34.40 | | | | (0.09 | ) | | | 9.58 | | | | 9.49 | | | | — | | | | (0.75 | ) | | | (0.75 | ) |
| Year Ended July 31, 2017(f) | | $ | 29.22 | | | | (0.10 | ) | | | 5.28 | | | | 5.18 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016(f) | | $ | 29.85 | | | | (0.11 | ) | | | (0.52 | ) | | | (0.63 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015(f) | | $ | 22.25 | | | | (0.18 | ) | | | 8.00 | | | | 7.82 | | | | — | | | | (0.22 | ) | | | (0.22 | ) |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited)(f) | | $ | 39.89 | | | | (0.28 | ) | | | 1.87 | (g) | | | 1.59 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2019(f) | | $ | 37.73 | | | | (0.43 | ) | | | 4.45 | | | | 4.02 | | | | — | | | | (1.86 | ) | | | (1.86 | ) |
| Year Ended July 31, 2018(f) | | $ | 30.47 | | | | (0.43 | ) | | | 8.44 | | | | 8.01 | | | | — | | | | (0.75 | ) | | | (0.75 | ) |
| Year Ended July 31, 2017(f) | | $ | 26.15 | | | | (0.38 | ) | | | 4.70 | | | | 4.32 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016(f) | | $ | 26.98 | | | | (0.36 | ) | | | (0.47 | ) | | | (0.83 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015(f) | | $ | 20.32 | | | | (0.42 | ) | | | 7.30 | | | | 6.88 | | | | — | | | | (0.22 | ) | | | (0.22 | ) |
| | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
Net
Asset
Value,
End of
Period | | | Total
Return | | | Gross
Expenses(b) | | | Net
Expenses(b) | | | Net
Investment
Income
(Loss)(b) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(c) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 116.63 | | | | 12.89 | %(d) | | | 2.11 | % | | | 1.78 | % | | | 0.54 | % | | $ | 7,364 | | | | 75 | %(d) |
| $ | 106.18 | | | | 5.40 | % | | | 2.11 | % | | | 1.91 | % | | | 0.15 | % | | $ | 4,495 | | | | 46 | % |
| $ | 102.40 | | | | (1.87 | )% | | | 1.89 | % | | | 1.83 | % | | | 0.44 | % | | $ | 5,321 | | | | 155 | % |
| $ | 106.08 | | | | 7.77 | % | | | 1.76 | % | | | 1.76 | % | | | 0.19 | % | | $ | 28,186 | | | | 199 | % |
| $ | 98.42 | | | | 12.89 | % | | | 1.75 | % | | | 1.75 | % | | | (0.14 | )% | | $ | 18,570 | | | | 236 | % |
| $ | 87.62 | | | | 21.54 | % | | | 1.81 | % | | | 1.75 | % | | | 0.66 | % | | $ | 54,987 | | | | 304 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 105.23 | | | | 12.33 | %(d) | | | 3.11 | % | | | 2.78 | % | | | (0.46 | )% | | $ | 335 | | | | 75 | %(d) |
| $ | 96.58 | | | | 4.38 | % | | | 3.09 | % | | | 2.89 | % | | | (0.83 | )% | | $ | 391 | | | | 46 | % |
| $ | 92.88 | | | | (2.85 | )% | | | 2.89 | % | | | 2.83 | % | | | (0.56 | )% | | $ | 699 | | | | 155 | % |
| $ | 97.24 | | | | 6.72 | % | | | 2.76 | % | | | 2.76 | % | | | (0.81 | )% | | $ | 1,077 | | | | 199 | % |
| $ | 91.12 | | | | 11.76 | % | | | 2.75 | % | | | 2.75 | % | | | (1.14 | )% | | $ | 3,907 | | | | 236 | % |
| $ | 81.54 | | | | 20.33 | % | | | 2.81 | % | | | 2.75 | % | | | (0.34 | )% | | $ | 4,341 | | | | 304 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 48.53 | | | | 4.52 | %(d) | | | 1.67 | % | | | 1.67 | % | | | (0.35 | )% | | $ | 47,337 | | | | 57 | %(d) |
| $ | 46.43 | | | | 13.46 | % | | | 1.57 | % | | | 1.57 | % | | | (0.13 | )% | | $ | 90,523 | | | | 106 | % |
| $ | 43.14 | | | | 27.92 | % | | | 1.52 | % | | | 1.52 | % | | | (0.22 | )% | | $ | 131,835 | | | | 35 | % |
| $ | 34.40 | | | | 17.70 | % | | | 1.58 | % | | | 1.58 | % | | | (0.32 | )% | | $ | 32,182 | | | | 123 | % |
| $ | 29.22 | | | | (2.10 | )% | | | 1.56 | % | | | 1.56 | % | | | (0.39 | )% | | $ | 39,850 | | | | 37 | % |
| $ | 29.85 | | | | 35.37 | % | | | 1.62 | % | | | 1.62 | % | | | (0.65 | )% | | $ | 99,665 | | | | 32 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 41.48 | | | | 3.99 | %(d) | | | 2.67 | % | | | 2.67 | % | | | (1.35 | )% | | $ | 2,279 | | | | 57 | %(d) |
| $ | 39.89 | | | | 12.34 | % | | | 2.57 | % | | | 2.57 | % | | | (1.13 | )% | | $ | 2,524 | | | | 106 | % |
| $ | 37.73 | | | | 26.64 | % | | | 2.52 | % | | | 2.52 | % | | | (1.22 | )% | | $ | 5,163 | | | | 35 | % |
| $ | 30.47 | | | | 16.52 | % | | | 2.58 | % | | | 2.58 | % | | | (1.32 | )% | | $ | 1,077 | | | | 123 | % |
| $ | 26.15 | | | | (3.06 | )% | | | 2.56 | % | | | 2.56 | % | | | (1.39 | )% | | $ | 722 | | | | 37 | % |
| $ | 26.98 | | | | 34.02 | % | | | 2.62 | % | | | 2.62 | % | | | (1.65 | )% | | $ | 4,119 | | | | 32 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Annualized for periods less than one year. |
| (c) | Portfolio turnover rate is calculated without regard to instruments having a maturity of less than one year from acquisition or derivative instruments (including swap agreements and futures contracts). The portfolio turnover rate can be high and volatile due to the amount and timing of sales and purchases of fund shares during the period. Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between classes of shares issued. |
| (d) | Not annualized for periods less than one year. |
| (e) | Subsequent to the issuance of the July 31, 2016 financial statements, less than $0.005 of the distribution was determined to be a return of capital. |
| (f) | As described in Note 9, share amounts have been adjusted for 3:1 share split that occurred on November 18, 2019. |
| (g) | The amount shown for a share outstanding throughout the period does not accord with the change in aggregate gains and losses in the portfolio of securities during the period because of the timing of sales and purchases of fund shares in relation to fluctuating market values during the period. |
See accompanying notes to the financial statements.
236 :: Financial Highlights
ProFunds Financial HighlightsFOR THE PERIODS INDICATED
Selected data for a share of beneficial interest outstanding throughout the periods indicated.
| | | | | | Investment Activities | | | Distributions to
Shareholders From | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income
(Loss)(a) | | | Net
Realized
and
Unrealized
Gains
(Losses) on
Investments | | | Total from
Investment
Activities | | | Net
Investment
Income | | | Total
Distributions | |
| Europe 30 ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 12.56 | | | | 0.08 | | | | 0.02 | (d) | | | 0.10 | | | | (0.11 | ) | | | (0.11 | ) |
| Year Ended July 31, 2019 | | $ | 14.58 | | | | 0.25 | | | | (0.86 | )(d) | | | (0.61 | ) | | | (1.41 | ) | | | (1.41 | ) |
| Year Ended July 31, 2018 | | $ | 13.99 | | | | 0.17 | | | | 0.56 | | | | 0.73 | | | | (0.14 | ) | | | (0.14 | ) |
| Year Ended July 31, 2017 | | $ | 11.99 | | | | 0.24 | | | | 2.15 | | | | 2.39 | | | | (0.39 | ) | | | (0.39 | ) |
| Year Ended July 31, 2016 | | $ | 14.48 | | | | 0.37 | | | | (1.50 | ) | | | (1.13 | ) | | | (1.36 | ) | | | (1.36 | ) |
| Year Ended July 31, 2015 | | $ | 16.16 | | | | 0.33 | | | | (1.85 | ) | | | (1.52 | ) | | | (0.16 | ) | | | (0.16 | ) |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 13.74 | | | | 0.01 | | | | 0.01 | (d) | | | 0.02 | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 15.32 | | | | 0.11 | | | | (0.83 | )(d) | | | (0.72 | ) | | | (0.86 | ) | | | (0.86 | ) |
| Year Ended July 31, 2018 | | $ | 14.72 | | | | 0.02 | | | | 0.58 | | | | 0.60 | | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 12.35 | | | | 0.10 | | | | 2.27 | | | | 2.37 | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 14.80 | | | | 0.25 | | | | (1.53 | ) | | | (1.28 | ) | | | (1.17 | ) | | | (1.17 | ) |
| Year Ended July 31, 2015 | | $ | 16.54 | | | | 0.17 | | | | (1.88 | ) | | | (1.71 | ) | | | (0.03 | ) | | | (0.03 | ) |
| Falling U.S. Dollar ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 15.97 | | | | (0.01 | ) | | | 0.02 | | | | 0.01 | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 17.03 | | | | 0.08 | | | | (1.14 | ) | | | (1.06 | ) | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 17.77 | | | | (0.08 | ) | | | (0.66 | ) | | | (0.74 | ) | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 17.76 | | | | (0.22 | ) | | | 0.23 | | | | 0.01 | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 17.83 | | | | (0.28 | ) | | | 0.21 | | | | (0.07 | ) | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 21.74 | | | | (0.34 | ) | | | (3.57 | ) | | | (3.91 | ) | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 14.81 | | | | (0.08 | ) | | | 0.01 | | | | (0.07 | ) | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 15.93 | | | | (0.08 | ) | | | (1.04 | ) | | | (1.12 | ) | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 16.78 | | | | (0.24 | ) | | | (0.61 | ) | | | (0.85 | ) | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 16.92 | | | | (0.38 | ) | | | 0.24 | | | | (0.14 | ) | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 17.16 | | | | (0.45 | ) | | | 0.21 | | | | (0.24 | ) | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 21.14 | | | | (0.53 | ) | | | (3.45 | ) | | | (3.98 | ) | | | — | | | | — | |
| | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
Net
Asset
Value,
End of
Period | | | Total
Return | | | Gross
Expenses(b) | | | Net
Expenses(b) | | | Net
Investment
Income
(Loss)(b) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(c) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 12.55 | | | | 0.74 | %(e) | | | 2.10 | % | | | 1.78 | % | | | 1.25 | % | | $ | 4,601 | | | | 756 | %(e) |
| $ | 12.56 | | | | (3.95 | )%(f) | | | 2.23 | % | | | 1.78 | % | | | 1.96 | % | | $ | 4,997 | | | | 1,311 | % |
| $ | 14.58 | | | | 5.30 | %(g) | | | 1.87 | % | | | 1.75 | % | | | 1.19 | % | | $ | 3,109 | | | | 540 | % |
| $ | 13.99 | | | | 20.40 | % | | | 1.82 | % | | | 1.78 | % | | | 1.90 | % | | $ | 11,133 | | | | 1,157 | % |
| $ | 11.99 | | | | (8.11 | )% | | | 1.84 | % | | | 1.78 | % | | | 3.14 | % | | $ | 3,726 | | | | 718 | % |
| $ | 14.48 | | | | (9.50 | )% | | | 1.80 | % | | | 1.78 | % | | | 2.18 | % | | $ | 3,628 | | | | 394 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 13.76 | | | | 0.15 | %(e) | | | 3.10 | % | | | 2.78 | % | | | 0.25 | % | | $ | 208 | | | | 756 | %(e) |
| $ | 13.74 | | | | (4.80 | )%(f) | | | 3.23 | % | | | 2.78 | % | | | 0.96 | % | | $ | 265 | | | | 1,311 | % |
| $ | 15.32 | | | | 4.14 | %(g) | | | 2.87 | % | | | 2.75 | % | | | 0.19 | % | | $ | 328 | | | | 540 | % |
| $ | 14.72 | | | | 19.19 | % | | | 2.82 | % | | | 2.78 | % | | | 0.90 | % | | $ | 477 | | | | 1,157 | % |
| $ | 12.35 | | | | (8.96 | )% | | | 2.84 | % | | | 2.78 | % | | | 2.14 | % | | $ | 262 | | | | 718 | % |
| $ | 14.80 | | | | (10.34 | )% | | | 2.80 | % | | | 2.78 | % | | | 1.18 | % | | $ | 1,631 | | | | 394 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 15.98 | | | | 0.06 | %(e) | | | 8.99 | % | | | 1.78 | % | | | (0.08 | )% | | $ | 1,090 | | | | — | |
| $ | 15.97 | | | | (6.22 | )% | | | 2.98 | % | | | 1.78 | % | | | 0.48 | % | | $ | 1,000 | | | | — | |
| $ | 17.03 | | | | (4.16 | )% | | | 2.96 | % | | | 1.78 | % | | | (0.44 | )% | | $ | 1,255 | | | | — | |
| $ | 17.77 | | | | 0.06 | % | | | 3.38 | % | | | 1.78 | % | | | (1.33 | )% | | $ | 1,965 | | | | — | |
| $ | 17.76 | | | | (0.39 | )% | | | 2.43 | % | | | 1.78 | % | | | (1.60 | )% | | $ | 2,480 | | | | — | |
| $ | 17.83 | | | | (17.99 | )% | | | 2.48 | % | | | 1.78 | % | | | (1.75 | )% | | $ | 2,829 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 14.74 | | | | (0.41 | )%(e) | | | 9.99 | % | | | 2.78 | % | | | (1.08 | )% | | $ | 9 | | | | — | |
| $ | 14.81 | | | | (7.09 | )% | | | 3.98 | % | | | 2.78 | % | | | (0.52 | )% | | $ | 7 | | | | — | |
| $ | 15.93 | | | | (5.07 | )% | | | 3.96 | % | | | 2.78 | % | | | (1.44 | )% | | $ | 744 | | | | — | |
| $ | 16.78 | | | | (0.89 | )% | | | 4.38 | % | | | 2.78 | % | | | (2.33 | )% | | $ | 487 | | | | — | |
| $ | 16.92 | | | | (1.34 | )% | | | 3.43 | % | | | 2.78 | % | | | (2.60 | )% | | $ | 1,285 | | | | — | |
| $ | 17.16 | | | | (18.83 | )% | | | 3.48 | % | | | 2.78 | % | | | (2.75 | )% | | $ | 1,798 | | | | — | |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Annualized for periods less than one year. |
| (c) | Portfolio turnover rate is calculated without regard to instruments having a maturity of less than one year from acquisition or derivative instruments (including swap agreements and futures contracts). The portfolio turnover rate can be high and volatile due to the amount and timing of sales and purchases of fund shares during the period. Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between classes of shares issued. |
| (d) | The amount shown for a share outstanding throughout the period does not accord with the change in aggregate gains and losses in the portfolio of securities during the period because of the timing of sales and purchases of fund shares in relation to fluctuating market values during the period. |
| (e) | Not annualized for periods less than one year. |
| (f) | During the year ended July 31, 2019, the ProFund received monies related to certain nonrecurring litigation settlements. The corresponding impact to the total return was an increase of 2.65%. |
| (g) | During the year ended July 31, 2018, the ProFund received monies related to certain nonrecurring litigation settlements. The corresponding impact to the total return was an increase of 0.44%. |
See accompanying notes to the financial statements.
Financial Highlights :: 237
ProFunds Financial HighlightsFOR THE PERIODS INDICATED
Selected data for a share of beneficial interest outstanding throughout the periods indicated.
| | | | | | Investment Activities | | | Distributions to Shareholders From | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income
(Loss)(a) | | | Net
Realized
and
Unrealized
Gains
(Losses) on
Investments | | | Total from
Investment
Activities | | | Net
Investment
Income | | | Net
Realized
Gains on
Investments | | | Total
Distributions | |
| Financials UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 24.82 | | | | 0.07 | | | | 2.27 | | | | 2.34 | | | | (0.46 | ) | | | — | | | | (0.46 | ) |
| Year Ended July 31, 2019 | | $ | 23.18 | | | | 0.13 | | | | 1.51 | (e) | | | 1.64 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 19.90 | | | | 0.01 | | | | 3.27 | | | | 3.28 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 14.65 | | | | (0.01 | ) | | | 5.26 | | | | 5.25 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 15.63 | | | | (0.02 | ) | | | (0.96 | ) | | | (0.98 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 12.93 | | | | (0.07 | ) | | | 2.77 | | | | 2.70 | | | | — | | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 21.11 | | | | (0.04 | ) | | | 1.91 | | | | 1.87 | | | | (0.16 | ) | | | — | | | | (0.16 | ) |
| Year Ended July 31, 2019 | | $ | 19.91 | | | | (0.07 | ) | | | 1.27 | (e) | | | 1.20 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 17.27 | | | | (0.18 | ) | | | 2.82 | | | | 2.64 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 12.83 | | | | (0.16 | ) | | | 4.60 | | | | 4.44 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 13.83 | | | | (0.15 | ) | | | (0.85 | ) | | | (1.00 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 11.56 | | | | (0.20 | ) | | | 2.47 | | | | 2.27 | | | | — | | | | — | | | | — | |
| Health Care UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 61.57 | | | | (0.03 | ) | | | 8.16 | | | | 8.13 | | | | (0.03 | ) | | | — | | | | (0.03 | ) |
| Year Ended July 31, 2019 | | $ | 60.66 | | | | 0.10 | | | | 0.83 | (e) | | | 0.93 | | | | (0.02 | ) | | | — | | | | (0.02 | ) |
| Year Ended July 31, 2018 | | $ | 56.25 | | | | (0.05 | ) | | | 10.27 | | | | 10.22 | | | | — | | | | (5.81 | ) | | | (5.81 | ) |
| Year Ended July 31, 2017 | | $ | 51.01 | | | | (0.14 | ) | | | 5.38 | | | | 5.24 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 54.33 | | | | (0.12 | ) | | | (3.20 | ) | | | (3.32 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 38.48 | | | | (0.35 | ) | | | 16.80 | | | | 16.45 | | | | — | | | | (0.60 | ) | | | (0.60 | ) |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 51.25 | | | | (0.30 | ) | | | 6.79 | | | | 6.49 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 50.97 | | | | (0.40 | ) | | | 0.68 | (e) | | | 0.28 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 48.57 | | | | (0.53 | ) | | | 8.74 | | | | 8.21 | | | | — | | | | (5.81 | ) | | | (5.81 | ) |
| Year Ended July 31, 2017 | | $ | 44.49 | | | | (0.57 | ) | | | 4.65 | | | | 4.08 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 47.86 | | | | (0.54 | ) | | | (2.83 | ) | | | (3.37 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 34.30 | | | | (0.78 | ) | | | 14.94 | | | | 14.16 | | | | — | | | | (0.60 | ) | | | (0.60 | ) |
| | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
Net
Asset
Value,
End of
Period | | | Total
Return | | | Gross
Expenses(b) | | | Net
Expenses(b) | | | Net
Investment
Income
(Loss)(b) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(c) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 26.70 | | | | 9.42 | %(d) | | | 1.78 | % | | | 1.78 | % | | | 0.54 | % | | $ | 11,805 | | | | 155 | %(d) |
| $ | 24.82 | | | | 7.07 | % | | | 1.72 | % | | | 1.72 | % | | | 0.56 | % | | $ | 39,881 | | | | 394 | % |
| $ | 23.18 | | | | 16.48 | % | | | 1.66 | % | | | 1.66 | % | | | 0.06 | % | | $ | 9,238 | | | | 360 | % |
| $ | 19.90 | | | | 35.84 | % | | | 1.68 | % | | | 1.68 | % | | | (0.03 | )% | | $ | 15,981 | | | | 211 | % |
| $ | 14.65 | | | | (6.27 | )% | | | 1.76 | % | | | 1.76 | % | | | (0.14 | )% | | $ | 8,204 | | | | 275 | % |
| $ | 15.63 | | | | 20.88 | % | | | 1.77 | % | | | 1.74 | % | | | (0.46 | )% | | $ | 58,917 | | | | 190 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 22.82 | | | | 8.85 | %(d) | | | 2.78 | % | | | 2.78 | % | | | (0.46 | )% | | $ | 667 | | | | 155 | %(d) |
| $ | 21.11 | | | | 5.97 | % | | | 2.72 | % | | | 2.72 | % | | | (0.44 | )% | | $ | 1,326 | | | | 394 | % |
| $ | 19.91 | | | | 15.34 | % | | | 2.66 | % | | | 2.66 | % | | | (0.94 | )% | | $ | 811 | | | | 360 | % |
| $ | 17.27 | | | | 34.61 | % | | | 2.68 | % | | | 2.68 | % | | | (1.03 | )% | | $ | 1,588 | | | | 211 | % |
| $ | 12.83 | | | | (7.23 | )% | | | 2.76 | % | | | 2.76 | % | | | (1.14 | )% | | $ | 838 | | | | 275 | % |
| $ | 13.83 | | | | 19.64 | % | | | 2.77 | % | | | 2.74 | % | | | (1.46 | )% | | $ | 5,606 | | | | 190 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 69.67 | | | | 13.21 | %(d) | | | 1.85 | % | | | 1.85 | % | | | (0.10 | )% | | $ | 43,456 | | | | 65 | %(d) |
| $ | 61.57 | | | | 1.54 | % | | | 1.58 | % | | | 1.58 | % | | | 0.16 | % | | $ | 14,650 | | | | 226 | % |
| $ | 60.66 | | | | 19.30 | % | | | 1.56 | % | | | 1.56 | % | | | (0.09 | )% | | $ | 39,320 | | | | 151 | % |
| $ | 56.25 | | | | 10.25 | % | | | 1.58 | % | | | 1.58 | % | | | (0.27 | )% | | $ | 60,081 | | | | 215 | % |
| $ | 51.01 | | | | (6.09 | )% | | | 1.53 | % | | | 1.53 | % | | | (0.26 | )% | | $ | 37,647 | | | | 7 | % |
| $ | 54.33 | | | | 43.08 | % | | | 1.61 | % | | | 1.61 | % | | | (0.73 | )% | | $ | 150,159 | | | | 47 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 57.74 | | | | 12.66 | %(d) | | | 2.81 | % | | | 2.81 | % | | | (1.06 | )% | | $ | 1,723 | | | | 65 | %(d) |
| $ | 51.25 | | | | 0.55 | % | | | 2.55 | % | | | 2.55 | % | | | (0.81 | )% | | $ | 1,328 | | | | 226 | % |
| $ | 50.97 | | | | 18.14 | % | | | 2.55 | % | | | 2.55 | % | | | (1.08 | )% | | $ | 2,230 | | | | 151 | % |
| $ | 48.57 | | | | 9.17 | % | | | 2.58 | % | | | 2.58 | % | | | (1.27 | )% | | $ | 2,507 | | | | 215 | % |
| $ | 44.49 | | | | (7.04 | )% | | | 2.53 | % | | | 2.53 | % | | | (1.26 | )% | | $ | 3,213 | | | | 7 | % |
| $ | 47.86 | | | | 41.64 | % | | | 2.61 | % | | | 2.61 | % | | | (1.73 | )% | | $ | 17,517 | | | | 47 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Annualized for periods less than one year. |
| (c) | Portfolio turnover rate is calculated without regard to instruments having a maturity of less than one year from acquisition or derivative instruments (including swap agreements and futures contracts). The portfolio turnover rate can be high and volatile due to the amount and timing of sales and purchases of fund shares during the period. Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between classes of shares issued. |
| (d) | Not annualized for periods less than one year. |
| (e) | The amount shown for a share outstanding throughout the period does not accord with the change in aggregate gains and losses in the portfolio of securities during the period because of the timing of sales and purchase of fund shares in relation to fluctuating market values during the period. |
See accompanying notes to the financial statements.
238 :: Financial Highlights
ProFunds Financial Highlights FOR THE PERIODS INDICATED
Selected data for a share of beneficial interest outstanding throughout the periods indicated.
| | | | | | Investment Activities | | | Distributions to
Shareholders From | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income
(Loss)(a) | | | Net
Realized
and
Unrealized
Gains
(Losses) on
Investments | | | Total from
Investment
Activities | | | Net
Realized
Gains on
Investments | | | Total
Distributions | |
| Industrials UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited)(d) | | $ | 39.16 | | | | (0.02 | ) | | | 2.34 | | | | 2.32 | | | | — | | | | — | |
| Year Ended July 31, 2019(d) | | $ | 36.86 | | | | (0.04 | ) | | | 2.34 | | | | 2.30 | | | | — | | | | — | |
| Year Ended July 31, 2018(d) | | $ | 31.94 | | | | (0.04 | ) | | | 6.39 | | | | 6.35 | | | | (1.43 | ) | | | (1.43 | ) |
| Year Ended July 31, 2017(d) | | $ | 25.23 | | | | (0.06 | ) | | | 6.77 | | | | 6.71 | | | | — | | | | — | |
| Year Ended July 31, 2016(d) | | $ | 22.83 | | | | (0.08 | ) | | | 2.61 | | | | 2.53 | | | | (0.13 | ) | | | (0.13 | ) |
| Year Ended July 31, 2015(d) | | $ | 21.29 | | | | (0.15 | ) | | | 2.04 | | | | 1.89 | | | | (0.35 | ) | | | (0.35 | ) |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited)(d) | | $ | 34.18 | | | | (0.20 | ) | | | 2.05 | | | | 1.85 | | | | — | | | | — | |
| Year Ended July 31, 2019(d) | | $ | 32.50 | | | | (0.35 | ) | | | 2.03 | | | | 1.68 | | | | — | | | | — | |
| Year Ended July 31, 2018(d) | | $ | 28.59 | | | | (0.35 | ) | | | 5.69 | | | | 5.34 | | | | (1.43 | ) | | | (1.43 | ) |
| Year Ended July 31, 2017(d) | | $ | 22.80 | | | | (0.31 | ) | | | 6.10 | | | | 5.79 | | | | — | | | | — | |
| Year Ended July 31, 2016(d) | | $ | 20.85 | | | | (0.28 | ) | | | 2.36 | | | | 2.08 | | | | (0.13 | ) | | | (0.13 | ) |
| Year Ended July 31, 2015(d) | | $ | 19.67 | | | | (0.36 | ) | | | 1.89 | | | | 1.53 | | | | (0.35 | ) | | | (0.35 | ) |
| Internet UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 99.45 | | | | (0.31 | ) | | | (2.87 | ) | | | (3.18 | ) | | | (0.11 | ) | | | (0.11 | ) |
| Year Ended July 31, 2019 | | $ | 92.57 | | | | (0.67 | ) | | | 7.55 | | | | 6.88 | | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 64.99 | | | | (0.75 | ) | | | 34.78 | | | | 34.03 | | | | (6.45 | ) | | | (6.45 | ) |
| Year Ended July 31, 2017 | | $ | 46.16 | | | | (0.62 | ) | | | 19.54 | | | | 18.92 | | | | (0.09 | ) | | | (0.09 | ) |
| Year Ended July 31, 2016 | | $ | 46.02 | | | | (0.54 | ) | | | 3.66 | | | | 3.12 | | | | (2.98 | ) | | | (2.98 | ) |
| Year Ended July 31, 2015 | | $ | 34.92 | | | | (0.50 | ) | | | 11.91 | | | | 11.41 | | | | (0.31 | ) | | | (0.31 | ) |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 76.99 | | | | (0.66 | ) | | | (2.18 | ) | | | (2.84 | ) | | | (0.11 | ) | | | (0.11 | ) |
| Year Ended July 31, 2019 | | $ | 72.39 | | | | (1.39 | ) | | | 5.99 | | | | 4.60 | | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 52.50 | | | | (1.39 | ) | | | 27.73 | | | | 26.34 | | | | (6.45 | ) | | | (6.45 | ) |
| Year Ended July 31, 2017 | | $ | 37.68 | | | | (1.06 | ) | | | 15.97 | | | | 14.91 | | | | (0.09 | ) | | | (0.09 | ) |
| Year Ended July 31, 2016 | | $ | 38.48 | | | | (0.90 | ) | | | 3.08 | | | | 2.18 | | | | (2.98 | ) | | | (2.98 | ) |
| Year Ended July 31, 2015 | | $ | 29.53 | | | | (0.82 | ) | | | 10.08 | | | | 9.26 | | | | (0.31 | ) | | | (0.31 | ) |
| | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
Net
Asset
Value,
End of
Period | | | Total
Return | | | Gross
Expenses(b) | | | Net
Expenses(b) | | | Net
Investment
Income
(Loss)(b) | | | Net
Assets,
End of
Period
(000’s) | | | Portfolio
Turnover
Rate(c) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 41.48 | | | | 5.93 | %(e) | | | 1.99 | % | | | 1.92 | % | | | (0.12 | )% | | $ | 9,587 | | | | 39 | %(e) |
| $ | 39.16 | | | | 6.22 | % | | | 1.84 | % | | | 1.84 | % | | | (0.10 | )% | | $ | 9,520 | | | | 485 | % |
| $ | 36.86 | | | | 20.04 | % | | | 1.63 | % | | | 1.63 | % | | | (0.12 | )% | | $ | 7,850 | | | | 240 | % |
| $ | 31.94 | | | | 26.61 | % | | | 1.72 | % | | | 1.72 | % | | | (0.21 | )% | | $ | 27,147 | | | | 294 | % |
| $ | 25.23 | | | | 11.23 | % | | | 1.79 | % | | | 1.79 | %(f) | | | (0.33 | )% | | $ | 12,037 | | | | 270 | % |
| $ | 22.83 | | | | 8.94 | % | | | 1.80 | % | | | 1.74 | % | | | (0.65 | )% | | $ | 5,699 | | | | 308 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 36.03 | | | | 5.41 | %(e) | | | 2.99 | % | | | 2.92 | % | | | (1.12 | )% | | $ | 688 | | | | 39 | %(e) |
| $ | 34.18 | | | | 5.16 | % | | | 2.84 | % | | | 2.84 | % | | | (1.10 | )% | | $ | 962 | | | | 485 | % |
| $ | 32.50 | | | | 18.83 | % | | | 2.63 | % | | | 2.63 | % | | | (1.12 | )% | | $ | 510 | | | | 240 | % |
| $ | 28.59 | | | | 25.36 | % | | | 2.72 | % | | | 2.72 | % | | | (1.21 | )% | | $ | 889 | | | | 294 | % |
| $ | 22.80 | | | | 10.14 | % | | | 2.79 | % | | | 2.79 | %(f) | | | (1.33 | )% | | $ | 601 | | | | 270 | % |
| $ | 20.85 | | | | 7.86 | % | | | 2.80 | % | | | 2.74 | % | | | (1.65 | )% | | $ | 1,809 | | | | 308 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 96.16 | | | | (3.19 | )%(e) | | | 1.62 | % | | | 1.62 | % | | | (0.70 | )% | | $ | 155,606 | | | | 16 | %(e) |
| $ | 99.45 | | | | 7.43 | % | | | 1.50 | % | | | 1.50 | % | | | (0.75 | )% | | $ | 209,745 | | | | 61 | % |
| $ | 92.57 | | | | 55.54 | % | | | 1.42 | % | | | 1.42 | % | | | (0.94 | )% | | $ | 275,914 | | | | 69 | % |
| $ | 64.99 | | | | 41.01 | % | | | 1.46 | % | | | 1.46 | % | | | (1.17 | )% | | $ | 139,470 | | | | 27 | % |
| $ | 46.16 | | | | 7.12 | % | | | 1.50 | % | | | 1.50 | % | | | (1.32 | )% | | $ | 77,895 | | | | 65 | % |
| $ | 46.02 | | | | 32.96 | % | | | 1.57 | % | | | 1.57 | % | | | (1.31 | )% | | $ | 76,318 | | | | 68 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 74.04 | | | | (3.67 | )%(e) | | | 2.62 | % | | | 2.62 | % | | | (1.70 | )% | | $ | 7,483 | | | | 16 | %(e) |
| $ | 76.99 | | | | 6.35 | % | | | 2.50 | % | | | 2.50 | % | | | (1.75 | )% | | $ | 10,311 | | | | 61 | % |
| $ | 72.39 | | | | 54.00 | % | | | 2.42 | % | | | 2.42 | % | | | (1.94 | )% | | $ | 16,652 | | | | 69 | % |
| $ | 52.50 | | | | 39.59 | % | | | 2.46 | % | | | 2.46 | % | | | (2.17 | )% | | $ | 8,697 | | | | 27 | % |
| $ | 37.68 | | | | 6.02 | % | | | 2.50 | % | | | 2.50 | % | | | (2.32 | )% | | $ | 3,752 | | | | 65 | % |
| $ | 38.48 | | | | 31.69 | % | | | 2.56 | % | | | 2.56 | % | | | (2.30 | )% | | $ | 8,932 | | | | 68 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Annualized for periods less than one year. |
| (c) | Portfolio turnover rate is calculated without regard to instruments having a maturity of less than one year from acquisition or derivative instruments (including swap agreements and futures contracts). The portfolio turnover rate can be high and volatile due to the amount and timing of sales and purchases of fund shares during the period. Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between classes of shares issued. |
| (d) | As described in Note 9, share amounts have been adjusted for 3:1 share split that occurred on November 18, 2019. |
| (e) | Not annualized for periods less than one year. |
| (f) | The expense ratio does not correlate to the applicable expense limits in place during the period given that the annual contractual expense limitation is applied for the one year periods ended November 30th of each year, instead of coinciding with the July 31st year end. Details of the current expense limitation in effect can be found in Note 4 of the accompanying Notes to Financial Statements. |
See accompanying notes to the financial statements.
Financial Highlights :: 239
ProFunds Financial Highlights FOR THE PERIODS INDICATED
Selected data for a share of beneficial interest outstanding throughout the periods indicated.
| | | | | | Investment Activities | | | Distributions to Shareholders From | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income
(Loss)(a) | | | Net
Realized
and
Unrealized
Gains
(Losses) on
Investments | | | Total from
Investment
Activities | | | Net
Investment
Income | | | Net
Realized
Gains on
Investments | | | Total
Distributions | |
| Large-Cap Growth ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 95.94 | | | | (0.09 | ) | | | 8.82 | | | | 8.73 | | | | — | | | | (4.33 | ) | | | (4.33 | ) |
| Year Ended July 31, 2019 | | $ | 90.85 | | | | (0.12 | ) | | | 6.68 | | | | 6.56 | | | | — | | | | (1.47 | ) | | | (1.47 | ) |
| Year Ended July 31, 2018 | | $ | 77.09 | | | | (0.15 | ) | | | 15.06 | | | | 14.91 | | | | — | | | | (1.15 | ) | | | (1.15 | ) |
| Year Ended July 31, 2017 | | $ | 68.05 | | | | — | (e) | | | 9.97 | | | | 9.97 | | | | — | | | | (0.93 | ) | | | (0.93 | ) |
| Year Ended July 31, 2016 | | $ | 65.97 | | | | (0.02 | ) | | | 2.14 | | | | 2.12 | | | | — | | | | (0.04 | ) | | | (0.04 | ) |
| Year Ended July 31, 2015 | | $ | 59.32 | | | | (0.01 | ) | | | 7.81 | | | | 7.80 | | | | — | | | | (1.15 | ) | | | (1.15 | ) |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 80.47 | | | | (0.50 | ) | | | 7.36 | | | | 6.86 | | | | — | | | | (4.33 | ) | | | (4.33 | ) |
| Year Ended July 31, 2019 | | $ | 77.22 | | | | (0.89 | ) | | | 5.61 | | | | 4.72 | | | | — | | | | (1.47 | ) | | | (1.47 | ) |
| Year Ended July 31, 2018 | | $ | 66.34 | | | | (0.85 | ) | | | 12.88 | | | | 12.03 | | | | — | | | | (1.15 | ) | | | (1.15 | ) |
| Year Ended July 31, 2017 | | $ | 59.27 | | | | (0.62 | ) | | | 8.62 | | | | 8.00 | | | | — | | | | (0.93 | ) | | | (0.93 | ) |
| Year Ended July 31, 2016 | | $ | 58.05 | | | | (0.57 | ) | | | 1.83 | | | | 1.26 | | | | — | | | | (0.04 | ) | | | (0.04 | ) |
| Year Ended July 31, 2015 | | $ | 52.82 | | | | (0.57 | ) | | | 6.95 | | | | 6.38 | | | | — | | | | (1.15 | ) | | | (1.15 | ) |
| Large-Cap Value ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 66.30 | | | | 0.29 | | | | 4.48 | | | | 4.77 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 66.02 | | | | 0.45 | | | | 2.05 | | | | 2.50 | | | | — | | | | (2.22 | ) | | | (2.22 | ) |
| Year Ended July 31, 2018 | | $ | 61.42 | | | | 0.40 | | | | 4.84 | | | | 5.24 | | | | (0.42 | ) | | | (0.22 | ) | | | (0.64 | ) |
| Year Ended July 31, 2017 | | $ | 54.89 | | | | 0.43 | | | | 6.23 | | | | 6.66 | | | | (0.13 | ) | | | — | | | | (0.13 | ) |
| Year Ended July 31, 2016 | | $ | 53.40 | | | | 0.49 | | | | 1.64 | | | | 2.13 | | | | (0.38 | ) | | | (0.26 | ) | | | (0.64 | ) |
| Year Ended July 31, 2015 | | $ | 52.78 | | | | 0.40 | | | | 2.05 | | | | 2.45 | | | | (0.32 | ) | | | (1.51 | ) | | | (1.83 | ) |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 59.23 | | | | (0.02 | ) | | | 3.95 | | | | 3.93 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 59.82 | | | | (0.12 | ) | | | 1.75 | | | | 1.63 | | | | — | | | | (2.22 | ) | | | (2.22 | ) |
| Year Ended July 31, 2018 | | $ | 55.88 | | | | (0.18 | ) | | | 4.34 | | | | 4.16 | | | | — | | | | (0.22 | ) | | | (0.22 | ) |
| Year Ended July 31, 2017 | | $ | 50.33 | | | | (0.10 | ) | | | 5.65 | | | | 5.55 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 49.33 | | | | 0.02 | | | | 1.44 | | | | 1.46 | | | | (0.20 | ) | | | (0.26 | ) | | | (0.46 | ) |
| Year Ended July 31, 2015 | | $ | 49.07 | | | | (0.11 | ) | | | 1.88 | | | | 1.77 | | | | — | | | | (1.51 | ) | | | (1.51 | ) |
| | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
Net
Asset
Value,
End of
Period | | | Total
Return | | | Gross
Expenses(b) | | | Net
Expenses(b) | | | Net
Investment
Income
(Loss)(b) | | | Net
Assets,
End of
Period
(000’s) | | | Portfolio
Turnover
Rate(c) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 100.34 | | | | 9.21 | %(d) | | | 1.75 | % | | | 1.75 | % | | | (0.19 | )% | | $ | 16,688 | | | | 239 | %(d) |
| $ | 95.94 | | | | 7.56 | % | | | 1.61 | % | | | 1.61 | % | | | (0.14 | )% | | $ | 22,113 | | | | 536 | % |
| $ | 90.85 | | | | 19.47 | % | | | 1.57 | % | | | 1.57 | % | | | (0.18 | )% | | $ | 33,364 | | | | 380 | % |
| $ | 77.09 | | | | 14.82 | % | | | 1.68 | % | | | 1.68 | % | | | — | %(f) | | $ | 32,726 | | | | 592 | % |
| $ | 68.05 | | | | 3.23 | % | | | 1.78 | % | | | 1.78 | % | | | (0.03 | )% | | $ | 23,301 | | | | 460 | % |
| $ | 65.97 | | | | 13.31 | % | | | 1.92 | % | | | 1.78 | % | | | (0.01 | )% | | $ | 15,741 | | | | 550 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 83.00 | | | | 8.66 | %(d) | | | 2.75 | % | | | 2.75 | % | | | (1.19 | )% | | $ | 3,901 | | | | 239 | %(d) |
| $ | 80.47 | | | | 6.50 | % | | | 2.61 | % | | | 2.61 | % | | | (1.14 | )% | | $ | 3,894 | | | | 536 | % |
| $ | 77.22 | | | | 18.28 | % | | | 2.57 | % | | | 2.57 | % | | | (1.18 | )% | | $ | 1,307 | | | | 380 | % |
| $ | 66.34 | | | | 13.68 | % | | | 2.68 | % | | | 2.68 | % | | | (1.00 | )% | | $ | 3,945 | | | | 592 | % |
| $ | 59.27 | | | | 2.19 | % | | | 2.78 | % | | | 2.78 | % | | | (1.03 | )% | | $ | 1,165 | | | | 460 | % |
| $ | 58.05 | | | | 12.22 | % | | | 2.92 | % | | | 2.78 | % | | | (1.01 | )% | | $ | 8,346 | | | | 550 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 71.07 | | | | 7.19 | %(d) | | | 1.71 | % | | | 1.71 | % | | | 0.82 | % | | $ | 22,820 | | | | 263 | %(d) |
| $ | 66.30 | | | | 4.38 | % | | | 1.80 | % | | | 1.77 | % | | | 0.71 | % | | $ | 11,810 | | | | 1,011 | % |
| $ | 66.02 | | | | 8.55 | % | | | 1.85 | % | | | 1.78 | % | | | 0.64 | % | | $ | 5,296 | | | | 788 | % |
| $ | 61.42 | | | | 12.12 | % | | | 1.85 | % | | | 1.78 | % | | | 0.75 | % | | $ | 6,916 | | | | 498 | % |
| $ | 54.89 | | | | 4.11 | % | | | 1.86 | % | | | 1.78 | % | | | 0.97 | % | | $ | 11,599 | | | | 813 | % |
| $ | 53.40 | | | | 4.73 | % | | | 1.96 | % | | | 1.84 | % | | | 0.74 | % | | $ | 9,509 | | | | 600 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 63.16 | | | | 6.63 | %(d) | | | 2.71 | % | | | 2.71 | % | | | (0.18 | )% | | $ | 1,842 | | | | 263 | %(d) |
| $ | 59.23 | | | | 3.37 | % | | | 2.80 | % | | | 2.77 | % | | | (0.29 | )% | | $ | 1,233 | | | | 1,011 | % |
| $ | 59.82 | | | | 7.44 | % | | | 2.85 | % | | | 2.78 | % | | | (0.36 | )% | | $ | 635 | | | | 788 | % |
| $ | 55.88 | | | | 11.01 | % | | | 2.85 | % | | | 2.78 | % | | | (0.25 | )% | | $ | 2,159 | | | | 498 | % |
| $ | 50.33 | | | | 3.06 | % | | | 2.86 | % | | | 2.78 | % | | | (0.03 | )% | | $ | 2,182 | | | | 813 | % |
| $ | 49.33 | | | | 3.67 | % | | | 2.96 | % | | | 2.84 | % | | | (0.26 | )% | | $ | 750 | | | | 600 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Annualized for periods less than one year. |
| (c) | Portfolio turnover rate is calculated without regard to instruments having a maturity of less than one year from acquisition or derivative instruments (including swap agreements and futures contracts). The portfolio turnover rate can be high and volatile due to the amount and timing of sales and purchases of fund shares during the period. Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between classes of shares issued. |
| (d) | Not annualized for periods less than one year. |
| (e) | Amount is less than $0.005. |
| (f) | Amount is less than 0.005%. |
See accompanying notes to the financial statements.
240 :: Financial Highlights
ProFunds Financial Highlights FOR THE PERIODS INDICATED
Selected data for a share of beneficial interest outstanding throughout the periods indicated.
| | | | | | Investment Activities | | | Distributions to Shareholders From | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income
(Loss)(a) | | | Net
Realized
and
Unrealized
Gains
(Losses) on
Investments | | | Total from
Investment
Activities | | | Net
Investment
Income | | | Net
Realized
Gains on
Investments | | | Total
Distributions | |
| Mid-Cap ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 87.39 | | | | (0.14 | ) | | | 1.78 | | | | 1.64 | | | | (0.08 | ) | | | (4.27 | ) | | | (4.35 | ) |
| Year Ended July 31, 2019 | | $ | 91.18 | | | | 0.02 | | | | (1.59 | ) | | | (1.57 | ) | | | (0.05 | ) | | | (2.17 | ) | | | (2.22 | ) |
| Year Ended July 31, 2018 | | $ | 87.31 | | | | (0.20 | ) | | | 10.73 | | | | 10.53 | | | | — | | | | (6.66 | ) | | | (6.66 | ) |
| Year Ended July 31, 2017 | | $ | 77.58 | | | | (0.42 | ) | | | 10.15 | | | | 9.73 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 74.89 | | | | (0.33 | ) | | | 3.05 | | | | 2.72 | | | | — | | | | (0.03 | )(g) | | | (0.03 | ) |
| Year Ended July 31, 2015 | | $ | 69.08 | | | | (0.39 | ) | | | 6.86 | | | | 6.47 | | | | — | | | | (0.66 | ) | | | (0.66 | ) |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 72.34 | | | | (0.50 | ) | | | 1.53 | | | | 1.03 | | | | — | | | | (4.27 | ) | | | (4.27 | ) |
| Year Ended July 31, 2019 | | $ | 76.62 | | | | (0.69 | ) | | | (1.42 | ) | | | (2.11 | ) | | | — | | | | (2.17 | ) | | | (2.17 | ) |
| Year Ended July 31, 2018 | | $ | 75.06 | | | | (0.96 | ) | | | 9.18 | | | | 8.22 | | | | — | | | | (6.66 | ) | | | (6.66 | ) |
| Year Ended July 31, 2017 | | $ | 67.36 | | | | (1.13 | ) | | | 8.83 | | | | 7.70 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 65.71 | | | | (0.95 | ) | | | 2.63 | | | | 1.68 | | | | — | | | | (0.03 | )(g) | | | (0.03 | ) |
| Year Ended July 31, 2015 | | $ | 61.30 | | | | (1.04 | ) | | | 6.11 | | | | 5.07 | | | | — | | | | (0.66 | ) | | | (0.66 | ) |
| Mid-Cap Growth ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 94.01 | | | | (0.25 | ) | | | 2.61 | (h) | | | 2.36 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 93.83 | | | | (0.40 | ) | | | 0.58 | (h) | | | 0.18 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 82.27 | | | | (0.50 | ) | | | 12.06 | | | | 11.56 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 73.58 | | | | (0.44 | ) | | | 9.13 | | | | 8.69 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 72.42 | | | | (0.38 | ) | | | 1.54 | | | | 1.16 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 63.43 | | | | (0.33 | ) | | | 9.32 | | | | 8.99 | | | | — | | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 78.22 | | | | (0.65 | ) | | | 2.19 | (h) | | | 1.54 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 78.84 | | | | (1.15 | ) | | | 0.53 | (h) | | | (0.62 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 69.82 | | | | (1.25 | ) | | | 10.27 | | | | 9.02 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 63.07 | | | | (1.09 | ) | | | 7.84 | | | | 6.75 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 62.72 | | | | (0.96 | ) | | | 1.31 | | | | 0.35 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 55.50 | | | | (0.94 | ) | | | 8.16 | | | | 7.22 | | | | — | | | | — | | | | — | |
| | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
Net
Asset
Value,
End of
Period | | | Total
Return | | | Gross
Expenses(b) | | | Net
Expenses(b) | | | Net
Investment
Income
(Loss)(b) | | | Net
Assets,
End of
Period
(000’s) | | | Portfolio
Turnover
Rate(c) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 84.68 | | | | 1.76 | %(d)(e) | | | 2.14 | % | | | 2.14 | %(f) | | | (0.32 | )% | | $ | 9,583 | | | | 149 | %(d) |
| $ | 87.39 | | | | (1.25 | )% | | | 1.67 | % | | | 1.67 | % | | | 0.03 | % | | $ | 7,025 | | | | 43 | % |
| $ | 91.18 | | | | 12.38 | % | | | 1.54 | % | | | 1.54 | % | | | (0.23 | )% | | $ | 19,933 | | | | 21 | % |
| $ | 87.31 | | | | 12.54 | % | | | 1.57 | % | | | 1.57 | % | | | (0.51 | )% | | $ | 47,686 | | | | 603 | % |
| $ | 77.58 | | | | 3.64 | % | | | 1.51 | % | | | 1.51 | % | | | (0.47 | )% | | $ | 56,035 | | | | 1,455 | % |
| $ | 74.89 | | | | 9.47 | % | | | 1.46 | % | | | 1.46 | % | | | (0.53 | )% | | $ | 26,624 | | | | 158 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 69.10 | | | | 1.27 | %(d)(e) | | | 3.14 | % | | | 3.14 | %(f) | | | (1.32 | )% | | $ | 673 | | | | 149 | %(d) |
| $ | 72.34 | | | | (2.23 | )% | | | 2.67 | % | | | 2.67 | % | | | (0.97 | )% | | $ | 2,655 | | | | 43 | % |
| $ | 76.62 | | | | 11.26 | % | | | 2.54 | % | | | 2.54 | % | | | (1.23 | )% | | $ | 783 | | | | 21 | % |
| $ | 75.06 | | | | 11.41 | % | | | 2.57 | % | | | 2.57 | % | | | (1.51 | )% | | $ | 952 | | | | 603 | % |
| $ | 67.36 | | | | 2.57 | % | | | 2.51 | % | | | 2.51 | % | | | (1.47 | )% | | $ | 981 | | | | 1,455 | % |
| $ | 65.71 | | | | 8.40 | % | | | 2.46 | % | | | 2.46 | % | | | (1.53 | )% | | $ | 5,174 | | | | 158 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 96.37 | | | | 2.51 | %(d) | | | 1.82 | % | | | 1.82 | % | | | (0.55 | )% | | $ | 6,196 | | | | 206 | %(d) |
| $ | 94.01 | | | | 0.19 | % | | | 1.73 | % | | | 1.73 | % | | | (0.44 | )% | | $ | 17,792 | | | | 385 | % |
| $ | 93.83 | | | | 14.05 | % | | | 1.70 | % | | | 1.70 | % | | | (0.56 | )% | | $ | 19,895 | | | | 384 | % |
| $ | 82.27 | | | | 11.81 | % | | | 1.80 | % | | | 1.78 | % | | | (0.59 | )% | | $ | 9,086 | | | | 242 | % |
| $ | 73.58 | | | | 1.60 | % | | | 1.81 | % | | | 1.78 | % | | | (0.58 | )% | | $ | 22,383 | | | | 666 | % |
| $ | 72.42 | | | | 14.17 | % | | | 1.85 | % | | | 1.74 | % | | | (0.50 | )% | | $ | 11,267 | | | | 712 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 79.76 | | | | 1.97 | %(d) | | | 2.82 | % | | | 2.82 | % | | | (1.55 | )% | | $ | 1,722 | | | | 206 | %(d) |
| $ | 78.22 | | | | (0.79 | )% | | | 2.73 | % | | | 2.73 | % | | | (1.44 | )% | | $ | 2,315 | | | | 385 | % |
| $ | 78.84 | | | | 12.92 | % | | | 2.70 | % | | | 2.70 | % | | | (1.56 | )% | | $ | 950 | | | | 384 | % |
| $ | 69.82 | | | | 10.68 | % | | | 2.80 | % | | | 2.78 | % | | | (1.59 | )% | | $ | 1,305 | | | | 242 | % |
| $ | 63.07 | | | | 0.57 | % | | | 2.81 | % | | | 2.78 | % | | | (1.58 | )% | | $ | 1,875 | | | | 666 | % |
| $ | 62.72 | | | | 13.01 | % | | | 2.85 | % | | | 2.74 | % | | | (1.50 | )% | | $ | 8,069 | | | | 712 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Annualized for periods less than one year. |
| (c) | Portfolio turnover rate is calculated without regard to instruments having a maturity of less than one year from acquisition or derivative instruments (including swap agreements and futures contracts). The portfolio turnover rate can be high and volatile due to the amount and timing of sales and purchases of fund shares during the period. Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between classes of shares issued. |
| (d) | Not annualized for periods less than one year. |
| (e) | During the period ended January 31, 2020, the Fund received monies related to certain nonrecurring litigation settlements. The corresponding impact to the total return was 0.18%. |
| (f) | The amount shown for a share outstanding throughout the period does not accord with the change in aggregate gains and losses in the portfolio of securities during the period because of the timing of sales and purchase of fund shares in relation to fluctuating market values during the period. |
| (g) | Subsequent to the issuance of the July 31, 2016 financial statements, less than $0.005 of the distribution was determined to be a return of capital. |
| (h) | The expense ratio does not correlate to the applicable expense limits in place during the period given that the annual contractual expense limitation is applied for the one year periods ended November 30th of each year, instead of coinciding with the July 31st year end. Details of the current expense limitation in effect can be found in Note 4 of the accompanying Notes to Financial Statements. |
See accompanying notes to the financial statements.
Financial Highlights :: 241
ProFunds Financial Highlights FOR THE PERIODS INDICATED
Selected data for a share of beneficial interest outstanding throughout the periods indicated.
| | | | | | Investment Activities | | | Distributions to Shareholders From | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income
(Loss)(a) | | | Net
Realized
and
Unrealized
Gains
(Losses) on
Investments | | | Total from
Investment
Activities | | | Net
Investment
Income | | | Net
Realized
Gains on
Investments | | | Total
Distributions | |
| Mid-Cap Value ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 73.65 | | | | 0.20 | | | | 0.94 | | | | 1.14 | | | | (0.31 | ) | | | — | | | | (0.31 | ) |
| Year Ended July 31, 2019 | | $ | 78.08 | | | | 0.08 | | | | (2.04 | ) | | | (1.96 | ) | | | (0.11 | ) | | | (2.36 | ) | | | (2.47 | ) |
| Year Ended July 31, 2018 | | $ | 78.19 | | | | (0.11 | ) | | | 8.25 | | | | 8.14 | | | | — | | | | (8.25 | ) | | | (8.25 | ) |
| Year Ended July 31, 2017 | | $ | 69.63 | | | | (0.01 | ) | | | 8.99 | | | | 8.98 | | | | (0.18 | ) | | | (0.24 | ) | | | (0.42 | ) |
| Year Ended July 31, 2016 | | $ | 65.60 | | | | 0.26 | | | | 3.77 | | | | 4.03 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 66.49 | | | | (0.04 | ) | | | 2.38 | | | | 2.34 | | | | — | | | | (3.23 | ) | | | (3.23 | ) |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 60.23 | | | | (0.10 | ) | | | 0.72 | | | | 0.62 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 64.88 | | | | (0.52 | ) | | | (1.77 | ) | | | (2.29 | ) | | | — | | | | (2.36 | ) | | | (2.36 | ) |
| Year Ended July 31, 2018 | | $ | 66.90 | | | | (0.76 | ) | | | 6.99 | | | | 6.23 | | | | — | | | | (8.25 | ) | | | (8.25 | ) |
| Year Ended July 31, 2017 | | $ | 60.06 | | | | (0.64 | ) | | | 7.72 | | | | 7.08 | | | | — | | | | (0.24 | ) | | | (0.24 | ) |
| Year Ended July 31, 2016 | | $ | 57.22 | | | | (0.29 | ) | | | 3.13 | | | | 2.84 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 58.98 | | | | (0.64 | ) | | | 2.11 | | | | 1.47 | | | | — | | | | (3.23 | ) | | | (3.23 | ) |
| Nasdaq-100 ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 76.83 | | | | (0.10 | ) | | | 10.84 | | | | 10.74 | | | | — | | | | (0.74 | ) | | | (0.74 | ) |
| Year Ended July 31, 2019 | | $ | 71.37 | | | | 0.02 | | | | 5.44 | | | | 5.46 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 58.96 | | | | (0.19 | ) | | | 13.07 | | | | 12.88 | | | | — | | | | (0.47 | ) | | | (0.47 | ) |
| Year Ended July 31, 2017 | | $ | 47.81 | | | | (0.33 | ) | | | 11.48 | | | | 11.15 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016(e) | | $ | 46.73 | | | | (0.37 | ) | | | 1.45 | | | | 1.08 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015(e) | | $ | 40.45 | | | | (0.38 | ) | | | 7.11 | | | | 6.73 | | | | — | | | | (0.45 | ) | | | (0.45 | ) |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 62.84 | | | | (0.43 | ) | | | 8.86 | | | | 8.43 | | | | — | | | | (0.74 | ) | | | (0.74 | ) |
| Year Ended July 31, 2019 | | $ | 58.96 | | | | (0.56 | ) | | | 4.44 | | | | 3.88 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 49.27 | | | | (0.74 | ) | | | 10.90 | | | | 10.16 | | | | — | | | | (0.47 | ) | | | (0.47 | ) |
| Year Ended July 31, 2017 | | $ | 40.36 | | | | (0.78 | ) | | | 9.69 | | | | 8.91 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016(e) | | $ | 39.85 | | | | (0.75 | ) | | | 1.26 | | | | 0.51 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015(e) | | $ | 34.91 | | | | (0.76 | ) | | | 6.15 | | | | 5.39 | | | | — | | | | (0.45 | ) | | | (0.45 | ) |
| | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
Net
Asset
Value,
End of
Period | | | Total
Return | | | Gross
Expenses(b) | | | Net
Expenses(b) | | | Net
Investment
Income
(Loss)(b) | | | Net
Assets,
End of
Period
(000’s) | | | Portfolio
Turnover
Rate(c) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 74.48 | | | | 1.53 | %(d) | | | 1.96 | % | | | 1.78 | % | | | 0.56 | % | | $ | 4,956 | | | | 166 | %(d) |
| $ | 73.65 | | | | (1.94 | )% | | | 1.78 | % | | | 1.78 | % | | | 0.11 | % | | $ | 5,554 | | | | 708 | % |
| $ | 78.08 | | | | 10.85 | % | | | 1.94 | % | | | 1.78 | % | | | (0.15 | )% | | $ | 7,731 | | | | 312 | % |
| $ | 78.19 | | | | 12.90 | % | | | 1.85 | % | | | 1.78 | % | | | (0.01 | )% | | $ | 7,609 | | | | 281 | % |
| $ | 69.63 | | | | 6.14 | % | | | 1.84 | % | | | 1.78 | % | | | 0.41 | % | | $ | 33,251 | | | | 913 | % |
| $ | 65.60 | | | | 3.65 | % | | | 2.29 | % | | | 1.78 | % | | | (0.06 | )% | | $ | 5,837 | | | | 681 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 60.85 | | | | 1.03 | %(d) | | | 2.96 | % | | | 2.78 | % | | | (0.44 | )% | | $ | 566 | | | | 166 | %(d) |
| $ | 60.23 | | | | (2.89 | )% | | | 2.78 | % | | | 2.78 | % | | | (0.89 | )% | | $ | 587 | | | | 708 | % |
| $ | 64.88 | | | | 9.73 | % | | | 2.94 | % | | | 2.78 | % | | | (1.15 | )% | | $ | 562 | | | | 312 | % |
| $ | 66.90 | | | | 11.78 | % | | | 2.85 | % | | | 2.78 | % | | | (1.01 | )% | | $ | 626 | | | | 281 | % |
| $ | 60.06 | | | | 4.98 | % | | | 2.84 | % | | | 2.78 | % | | | (0.59 | )% | | $ | 1,458 | | | | 913 | % |
| $ | 57.22 | | | | 2.60 | % | | | 3.29 | % | | | 2.78 | % | | | (1.06 | )% | | $ | 725 | | | | 681 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 86.83 | | | | 14.01 | %(d) | | | 1.55 | % | | | 1.55 | % | | | (0.26 | )% | | $ | 92,189 | | | | 6 | %(d) |
| $ | 76.83 | | | | 7.65 | % | | | 1.52 | % | | | 1.52 | % | | | 0.03 | % | | $ | 101,799 | | | | 15 | % |
| $ | 71.37 | | | | 21.94 | % | | | 1.44 | % | | | 1.44 | % | | | (0.30 | )% | | $ | 83,056 | | | | 3 | % |
| $ | 58.96 | | | | 23.32 | % | | | 1.49 | % | | | 1.49 | % | | | (0.64 | )% | | $ | 99,069 | | | | 4 | % |
| $ | 47.81 | | | | 2.30 | % | | | 1.54 | % | | | 1.54 | % | | | (0.84 | )% | | $ | 53,723 | | | | 362 | % |
| $ | 46.73 | | | | 16.75 | % | | | 1.60 | % | | | 1.60 | % | | | (0.89 | )% | | $ | 53,777 | | | | 100 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 70.53 | | | | 13.45 | %(d) | | | 2.54 | % | | | 2.54 | % | | | (1.25 | )% | | $ | 8,493 | | | | 6 | %(d) |
| $ | 62.84 | | | | 6.58 | % | | | 2.51 | % | | | 2.51 | % | | | (0.96 | )% | | $ | 5,884 | | | | 15 | % |
| $ | 58.96 | | | | 20.75 | % | | | 2.44 | % | | | 2.44 | % | | | (1.30 | )% | | $ | 8,137 | | | | 3 | % |
| $ | 49.27 | | | | 22.05 | % | | | 2.49 | % | | | 2.49 | % | | | (1.64 | )% | | $ | 5,022 | | | | 4 | % |
| $ | 40.36 | | | | 1.27 | % | | | 2.54 | % | | | 2.54 | % | | | (1.84 | )% | | $ | 2,863 | | | | 362 | % |
| $ | 39.85 | | | | 15.57 | % | | | 2.60 | % | | | 2.60 | % | | | (1.89 | )% | | $ | 25,334 | | | | 100 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Annualized for periods less than one year. |
| (c) | Portfolio turnover rate is calculated without regard to instruments having a maturity of less than one year from acquisition or derivative instruments (including swap agreements and futures contracts). The portfolio turnover rate can be high and volatile due to the amount and timing of sales and purchases of fund shares during the period. Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between classes of shares issued. |
| (d) | Not annualized for periods less than one year. |
| (e) | As described in Note 9, share amounts have been adjusted for 3:1 share split that occurred on December 14, 2015. |
See accompanying notes to the financial statements.
242 :: Financial Highlights
ProFunds Financial Highlights FOR THE PERIODS INDICATED
Selected data for a share of beneficial interest outstanding throughout the periods indicated.
| | | | | | Investment Activities | | | Distributions to
Shareholders From | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income
(Loss)(a) | | | Net
Realized
and
Unrealized
Gains
(Losses) on
Investments | | | Total from
Investment
Activities | | | Net
Investment
Income | | | Total
Distributions | |
| Oil & Gas UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 29.28 | | | | 0.21 | | | | (5.44 | ) | | | (5.23 | ) | | | (0.38 | ) | | | (0.38 | ) |
| Year Ended July 31, 2019 | | $ | 42.24 | | | | 0.37 | | | | (12.87 | ) | | | (12.50 | ) | | | (0.46 | ) | | | (0.46 | ) |
| Year Ended July 31, 2018 | | $ | 33.39 | | | | 0.29 | | | | 8.88 | | | | 9.17 | | | | (0.32 | ) | | | (0.32 | ) |
| Year Ended July 31, 2017 | | $ | 35.19 | | | | 0.28 | | | | (1.85 | ) | | | (1.57 | ) | | | (0.23 | ) | | | (0.23 | ) |
| Year Ended July 31, 2016 | | $ | 37.47 | | | | 0.23 | | | | (2.34 | ) | | | (2.11 | ) | | | (0.17 | ) | | | (0.17 | ) |
| Year Ended July 31, 2015 | | $ | 62.53 | | | | 0.18 | | | | (25.24 | ) | | | (25.06 | ) | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 25.07 | | | | 0.10 | | | | (4.73 | ) | | | (4.63 | ) | | | (0.06 | ) | | | (0.06 | ) |
| Year Ended July 31, 2019 | | $ | 36.03 | | | | 0.08 | | | | (10.96 | ) | | | (10.88 | ) | | | (0.08 | ) | | | (0.08 | ) |
| Year Ended July 31, 2018 | | $ | 28.53 | | | | (0.02 | ) | | | 7.52 | | | | 7.50 | | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 30.19 | | | | (0.03 | ) | | | (1.63 | ) | | | (1.66 | ) | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 32.29 | | | | (0.06 | ) | | | (2.04 | ) | | | (2.10 | ) | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 54.42 | | | | (0.23 | ) | | | (21.90 | ) | | | (22.13 | ) | | | — | | | | — | |
| Oil Equipment & Services UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited)(e) | | $ | 41.50 | | | | — | (f) | | | (13.13 | ) | | | (13.13 | ) | | | — | | | | — | |
| Year Ended July 31, 2019(e) | | $ | 100.93 | | | | (0.32 | ) | | | (58.07 | ) | | | (58.39 | ) | | | (1.04 | ) | | | (1.04 | ) |
| Year Ended July 31, 2018(e) | | $ | 100.28 | | | | 0.80 | | | | 2.17 | | | | 2.97 | | | | (2.32 | ) | | | (2.32 | ) |
| Year Ended July 31, 2017(e) | | $ | 107.70 | | | | 1.68 | | | | (9.02 | ) | | | (7.34 | ) | | | (0.08 | ) | | | (0.08 | ) |
| Year Ended July 31, 2016(e) | | $ | 140.75 | | | | 0.40 | | | | (33.45 | ) | | | (33.05 | ) | | | — | | | | — | |
| Year Ended July 31, 2015(e) | | $ | 250.62 | | | | 0.32 | | | | (110.19 | ) | | | (109.87 | ) | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited)(e) | | $ | 37.87 | | | | (0.15 | ) | | | (11.99 | ) | | | (12.14 | ) | | | — | | | | — | |
| Year Ended July 31, 2019(e) | | $ | 90.72 | | | | (0.80 | ) | | | (52.05 | ) | | | (52.85 | ) | | | — | (f) | | | — | (f) |
| Year Ended July 31, 2018(e) | | $ | 89.99 | | | | (0.08 | ) | | | 1.85 | | | | 1.77 | | | | (1.04 | ) | | | (1.04 | ) |
| Year Ended July 31, 2017(e) | | $ | 97.47 | | | | 0.56 | | | | (8.04 | ) | | | (7.48 | ) | | | — | | | | — | |
| Year Ended July 31, 2016(e) | | $ | 128.68 | | | | (0.56 | ) | | | (30.65 | ) | | | (31.21 | ) | | | — | | | | — | |
| Year Ended July 31, 2015(e) | | $ | 231.59 | | | | (1.44 | ) | | | (101.47 | ) | | | (102.91 | ) | | | — | | | | — | |
| | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
Net
Asset
Value,
End of
Period | | | Total
Return | | | Gross
Expenses(b) | | | Net
Expenses(b) | | | Net
Investment
Income
(Loss)(b) | | | Net
Assets,
End of
Period
(000’s) | | | Portfolio
Turnover
Rate(c) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 23.67 | | | | (18.07 | )%(d) | | | 1.85 | % | | | 1.85 | % | | | 1.61 | % | | $ | 10,645 | | | | 13 | %(d) |
| $ | 29.28 | | | | (29.45 | )% | | | 1.74 | % | | | 1.74 | % | | | 1.11 | % | | $ | 13,402 | | | | 53 | % |
| $ | 42.24 | | | | 27.56 | % | | | 1.56 | % | | | 1.56 | % | | | 0.78 | % | | $ | 43,157 | | | | 152 | % |
| $ | 33.39 | | | | (4.58 | )% | | | 1.60 | % | | | 1.60 | % | | | 0.79 | % | | $ | 20,228 | | | | 110 | % |
| $ | 35.19 | | | | (5.56 | )% | | | 1.54 | % | | | 1.54 | % | | | 0.69 | % | | $ | 59,096 | | | | 16 | % |
| $ | 37.47 | | | | (40.08 | )% | | | 1.61 | % | | | 1.61 | % | | | 0.38 | % | | $ | 23,965 | | | | 50 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 20.38 | | | | (18.49 | )%(d) | | | 2.85 | % | | | 2.85 | % | | | 0.61 | % | | $ | 493 | | | | 13 | %(d) |
| $ | 25.07 | | | | (30.16 | )% | | | 2.74 | % | | | 2.74 | % | | | 0.11 | % | | $ | 730 | | | | 53 | % |
| $ | 36.03 | | | | 26.29 | % | | | 2.56 | % | | | 2.56 | % | | | (0.22 | )% | | $ | 1,651 | | | | 152 | % |
| $ | 28.53 | | | | (5.50 | )% | | | 2.60 | % | | | 2.60 | % | | | (0.21 | )% | | $ | 1,929 | | | | 110 | % |
| $ | 30.19 | | | | (6.50 | )% | | | 2.54 | % | | | 2.54 | % | | | (0.31 | )% | | $ | 3,140 | | | | 16 | % |
| $ | 32.29 | | | | (40.67 | )% | | | 2.61 | % | | | 2.61 | % | | | (0.62 | )% | | $ | 5,075 | | | | 50 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 28.37 | | | | (31.67 | )%(d) | | | 2.10 | % | | | 1.94 | % | | | (0.01 | )% | | $ | 4,620 | | | | 248 | %(d) |
| $ | 41.50 | | | | (57.83 | )% | | | 2.09 | % | | | 2.09 | %(g) | | | (0.61 | )% | | $ | 6,205 | | | | 248 | % |
| $ | 100.93 | | | | 3.02 | % | | | 1.60 | % | | | 1.60 | % | | | 0.83 | % | | $ | 8,203 | | | | 316 | % |
| $ | 100.28 | | | | (6.79 | )% | | | 1.62 | % | | | 1.62 | % | | | 1.42 | % | | $ | 13,703 | | | | 201 | % |
| $ | 107.70 | | | | (23.48 | )% | | | 1.79 | % | | | 1.78 | % | | | 0.37 | % | | $ | 12,176 | | | | 229 | % |
| $ | 140.75 | | | | (43.86 | )% | | | 1.78 | % | | | 1.77 | % | | | 0.17 | % | | $ | 7,219 | | | | 92 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 25.73 | | | | (32.00 | )%(d) | | | 3.10 | % | | | 2.94 | % | | | (1.01 | )% | | $ | 321 | | | | 248 | %(d) |
| $ | 37.87 | | | | (58.27 | )% | | | 3.09 | % | | | 3.09 | %(g) | | | (1.61 | )% | | $ | 373 | | | | 248 | % |
| $ | 90.72 | | | | 1.99 | % | | | 2.60 | % | | | 2.60 | % | | | (0.17 | )% | | $ | 318 | | | | 316 | % |
| $ | 89.99 | | | | (7.71 | )% | | | 2.62 | % | | | 2.62 | % | | | 0.42 | % | | $ | 503 | | | | 201 | % |
| $ | 97.47 | | | | (24.24 | )% | | | 2.79 | % | | | 2.78 | % | | | (0.63 | )% | | $ | 233 | | | | 229 | % |
| $ | 128.68 | | | | (44.42 | )% | | | 2.78 | % | | | 2.77 | % | | | (0.83 | )% | | $ | 472 | | | | 92 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Annualized for periods less than one year. |
| (c) | Portfolio turnover rate is calculated without regard to instruments having a maturity of less than one year from acquisition or derivative instruments (including swap agreements and futures contracts). The portfolio turnover rate can be high and volatile due to the amount and timing of sales and purchases of fund shares during the period. Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between classes of shares issued. |
| (d) | Not annualized for periods less than one year. |
| (e) | As described in Note 9, share amounts have been adjusted for 1:8 reverse share split that occurred on November 18, 2019. |
| (f) | Amount is less than $0.005. |
| (g) | The expense ratio does not correlate to the applicable expense limits in place during the period given that the annual contractual expense limitation is applied for the one year periods ended November 30th of each year, instead of coinciding with the July 31st year end. Details of the current expense limitation in effect can be found in Note 4 of the accompanying Notes to Financial Statements. |
See accompanying notes to the financial statements.
Financial Highlights :: 243
ProFunds Financial Highlights FOR THE PERIODS INDICATED
Selected data for a share of beneficial interest outstanding throughout the periods indicated.
| | | | | | Investment Activities | | | Distributions to
Shareholders From | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income
(Loss)(a) | | | Net
Realized
and
Unrealized
Gains
(Losses) on
Investments | | | Total from
Investment
Activities | | | Net
Investment
Income | | | Net
Realized
Gains on
Investments | | | Total
Distributions | |
| Pharmaceuticals UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 20.75 | | | | — | (d) | | | 3.17 | | | | 3.17 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 26.29 | | | | 0.01 | | | | (4.71 | ) | | | (4.70 | ) | | | (0.04 | ) | | | (0.80 | ) | | | (0.84 | ) |
| Year Ended July 31, 2018 | | $ | 25.66 | | | | 0.12 | | | | 1.61 | | | | 1.73 | | | | — | | | | (1.10 | ) | | | (1.10 | ) |
| Year Ended July 31, 2017 | | $ | 26.29 | | | | 0.03 | | | | (0.66 | ) | | | (0.63 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 26.03 | | | | (0.04 | ) | | | 0.32 | | | | 0.28 | | | | — | | | | (0.02 | )(f) | | | (0.02 | ) |
| Year Ended July 31, 2015 | | $ | 20.84 | | | | (0.08 | ) | | | 6.46 | | | | 6.38 | | | | — | | | | (1.19 | ) | | | (1.19 | ) |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 18.03 | | | | (0.09 | ) | | | 2.74 | | | | 2.65 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 23.16 | | | | (0.20 | ) | | | (4.13 | ) | | | (4.33 | ) | | | — | | | | (0.80 | ) | | | (0.80 | ) |
| Year Ended July 31, 2018 | | $ | 22.96 | | | | (0.10 | ) | | | 1.40 | | | | 1.30 | | | | — | | | | (1.10 | ) | | | (1.10 | ) |
| Year Ended July 31, 2017 | | $ | 23.76 | | | | (0.19 | ) | | | (0.61 | ) | | | (0.80 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 23.76 | | | | (0.25 | ) | | | 0.27 | | | | 0.02 | | | | — | | | | (0.02 | )(f) | | | (0.02 | ) |
| Year Ended July 31, 2015 | | $ | 19.30 | | | | (0.30 | ) | | | 5.95 | | | | 5.65 | | | | — | | | | (1.19 | ) | | | (1.19 | ) |
| Precious Metals UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 41.21 | | | | (0.15 | ) | | | 11.21 | | | | 11.06 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 32.32 | | | | (0.02 | ) | | | 8.91 | | | | 8.89 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 39.29 | | | | (0.22 | ) | | | (6.75 | ) | | | (6.97 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 65.02 | | | | (0.36 | ) | | | (25.37 | ) | | | (25.73 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016(g) | | $ | 21.76 | | | | (0.35 | ) | | | 43.61 | | | | 43.26 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015(g) | | $ | 71.85 | | | | (0.20 | ) | | | (49.89 | ) | | | (50.09 | ) | | | — | | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 35.72 | | | | (0.35 | ) | | | 9.71 | | | | 9.36 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 28.31 | | | | (0.29 | ) | | | 7.70 | | | | 7.41 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 34.75 | | | | (0.54 | ) | | | (5.90 | ) | | | (6.44 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 58.09 | | | | (0.74 | ) | | | (22.60 | ) | | | (23.34 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016(g) | | $ | 19.65 | | | | (0.67 | ) | | | 39.11 | | | | 38.44 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015(g) | | $ | 65.45 | | | | (0.65 | ) | | | (45.15 | ) | | | (45.80 | ) | | | — | | | | — | | | | — | |
| | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
Net
Asset
Value,
End of
Period | | | Total
Return | | | Gross
Expenses(b) | | | Net
Expenses(b) | | | Net
Investment
Income
(Loss)(b) | | | Net
Assets,
End of
Period
(000’s) | | | Portfolio
Turnover
Rate(c) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 23.92 | | | | 15.28 | %(e) | | | 2.37 | % | | | 1.89 | % | | | 0.02 | % | | $ | 3,818 | | | | 83 | %(e) |
| $ | 20.75 | | | | (17.69 | )% | | | 1.97 | % | | | 1.86 | % | | | 0.06 | % | | $ | 5,039 | | | | 223 | % |
| $ | 26.29 | | | | 6.97 | % | | | 1.78 | % | | | 1.78 | % | | | 0.48 | % | | $ | 7,173 | | | | 192 | % |
| $ | 25.66 | | | | (2.40 | )% | | | 1.75 | % | | | 1.75 | % | | | 0.13 | % | | $ | 9,592 | | | | 159 | % |
| $ | 26.29 | | | | 1.08 | % | | | 1.76 | % | | | 1.76 | % | | | (0.17 | )% | | $ | 14,631 | | | | 79 | % |
| $ | 26.03 | | | | 31.57 | % | | | 1.73 | % | | | 1.73 | % | | | (0.35 | )% | | $ | 24,071 | | | | 35 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 20.68 | | | | 14.70 | %(e) | | | 3.37 | % | | | 2.89 | % | | | (0.98 | )% | | $ | 1,071 | | | | 83 | %(e) |
| $ | 18.03 | | | | (18.53 | )% | | | 2.97 | % | | | 2.86 | % | | | (0.94 | )% | | $ | 435 | | | | 223 | % |
| $ | 23.16 | | | | 5.88 | % | | | 2.78 | % | | | 2.78 | % | | | (0.52 | )% | | $ | 822 | | | | 192 | % |
| $ | 22.96 | | | | (3.37 | )% | | | 2.75 | % | | | 2.75 | % | | | (0.87 | )% | | $ | 969 | | | | 159 | % |
| $ | 23.76 | | | | 0.09 | % | | | 2.76 | % | | | 2.76 | % | | | (1.17 | )% | | $ | 1,468 | | | | 79 | % |
| $ | 23.76 | | | | 30.26 | % | | | 2.73 | % | | | 2.73 | % | | | (1.35 | )% | | $ | 2,286 | | | | 35 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 52.27 | | | | 26.84 | %(e) | | | 1.65 | % | | | 1.65 | % | | | (0.63 | )% | | $ | 37,478 | | | | 73 | %(e) |
| $ | 41.21 | | | | 27.51 | % | | | 1.62 | % | | | 1.62 | % | | | (0.07 | )% | | $ | 29,785 | | | | 228 | % |
| $ | 32.32 | | | | (17.74 | )% | | | 1.52 | % | | | 1.52 | % | | | (0.60 | )% | | $ | 23,965 | | | | 192 | % |
| $ | 39.29 | | | | (39.58 | )% | | | 1.52 | % | | | 1.52 | % | | | (0.84 | )% | | $ | 26,951 | | | | 309 | % |
| $ | 65.02 | | | | 198.99 | % | | | 1.55 | % | | | 1.55 | % | | | (1.04 | )% | | $ | 52,251 | | | | 167 | % |
| $ | 21.76 | | | | (69.73 | )% | | | 1.71 | % | | | 1.71 | % | | | (0.48 | )% | | $ | 13,341 | | | | 117 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 45.08 | | | | 26.20 | %(e) | | | 2.65 | % | | | 2.65 | % | | | (1.63 | )% | | $ | 1,658 | | | | 73 | %(e) |
| $ | 35.72 | | | | 26.17 | % | | | 2.62 | % | | | 2.62 | % | | | (1.07 | )% | | $ | 1,131 | | | | 228 | % |
| $ | 28.31 | | | | (18.53 | )% | | | 2.52 | % | | | 2.52 | % | | | (1.60 | )% | | $ | 1,465 | | | | 192 | % |
| $ | 34.75 | | | | (40.18 | )% | | | 2.52 | % | | | 2.52 | % | | | (1.84 | )% | | $ | 1,588 | | | | 309 | % |
| $ | 58.09 | | | | 195.62 | % | | | 2.55 | % | | | 2.55 | % | | | (2.04 | )% | | $ | 3,468 | | | | 167 | % |
| $ | 19.65 | | | | (69.98 | )% | | | 2.71 | % | | | 2.71 | % | | | (1.48 | )% | | $ | 670 | | | | 117 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Annualized for periods less than one year. |
| (c) | Portfolio turnover rate is calculated without regard to instruments having a maturity of less than one year from acquisition or derivative instruments (including swap agreements and futures contracts). The portfolio turnover rate can be high and volatile due to the amount and timing of sales and purchases of fund shares during the period. Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between classes of shares issued. |
| (d) | Amount is less than $0.005. |
| (e) | Not annualized for periods less than one year. |
| (f) | Subsequent to the issuance of the July 31, 2016 financial statements, $0.01 of the distribution was determined to be a return of capital. |
| (g) | As described in Note 9, share amounts have been adjusted for 1:5 reverse share split that occurred on December 14, 2015. |
See accompanying notes to the financial statements.
244 :: Financial Highlights
ProFunds Financial Highlights FOR THE PERIODS INDICATED
Selected data for a share of beneficial interest outstanding throughout the periods indicated.
| | | | | | Investment Activities | | | Distributions to
Shareholders From | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income
(Loss)(a) | | | Net
Realized
and
Unrealized
Gains
(Losses) on
Investments | | | Total from
Investment
Activities | | | Net
Investment
Income | | | Total
Distributions | |
| Real Estate UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 51.60 | | | | 0.34 | | | | 4.77 | | | | 5.11 | | | | (1.09 | ) | | | (1.09 | ) |
| Year Ended July 31, 2019 | | $ | 45.14 | | | | 0.81 | | | | 6.47 | | | | 7.28 | | | | (0.82 | ) | | | (0.82 | ) |
| Year Ended July 31, 2018 | | $ | 43.65 | | | | 0.22 | | | | 1.27 | | | | 1.49 | | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 47.55 | | | | 0.09 | | | | (2.52 | ) | | | (2.43 | ) | | | (1.47 | )(e) | | | (1.47 | ) |
| Year Ended July 31, 2016 | | $ | 37.58 | | | | 0.21 | | | | 9.83 | | | | 10.04 | | | | (0.07 | ) | | | (0.07 | ) |
| Year Ended July 31, 2015 | | $ | 34.24 | | | | 0.08 | | | | 3.39 | | | | 3.47 | | | | (0.13 | ) | | | (0.13 | ) |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 49.28 | | | | 0.08 | | | | 4.53 | | | | 4.61 | | | | (0.78 | ) | | | (0.78 | ) |
| Year Ended July 31, 2019 | | $ | 42.78 | | | | 0.37 | | | | 6.19 | | | | 6.56 | | | | (0.06 | ) | | | (0.06 | ) |
| Year Ended July 31, 2018 | | $ | 41.77 | | | | (0.18 | ) | | | 1.19 | | | | 1.01 | | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 45.73 | | | | (0.32 | ) | | | (2.44 | ) | | | (2.76 | ) | | | (1.20 | )(e) | | | (1.20 | ) |
| Year Ended July 31, 2016 | | $ | 36.44 | | | | (0.17 | ) | | | 9.46 | | | | 9.29 | | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 33.44 | | | | (0.30 | ) | | | 3.30 | | | | 3.00 | | | | — | | | | — | |
| Rising Rates Opportunity ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 35.49 | | | | (0.01 | ) | | | (5.23 | ) | | | (5.24 | ) | | | (0.42 | ) | | | (0.42 | ) |
| Year Ended July 31, 2019 | | $ | 41.55 | | | | 0.27 | | | | (6.33 | ) | | | (6.06 | ) | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 41.26 | | | | (0.08 | ) | | | 0.37 | | | | 0.29 | | | | — | | | | — | |
| Year Ended July 31, 2017(f) | | $ | 36.13 | | | | (0.44 | ) | | | 5.57 | | | | 5.13 | | | | — | | | | — | |
| Year Ended July 31, 2016(f) | | $ | 46.76 | | | | (0.56 | ) | | | (10.07 | ) | | | (10.63 | ) | | | — | | | | — | |
| Year Ended July 31, 2015(f) | | $ | 56.03 | | | | (0.72 | ) | | | (8.55 | ) | | | (9.27 | ) | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 31.42 | | | | (0.15 | ) | | | (4.66 | ) | | | (4.81 | ) | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 37.17 | | | | (0.09 | ) | | | (5.66 | ) | | | (5.75 | ) | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 37.27 | | | | (0.45 | ) | | | 0.35 | | | | (0.10 | ) | | | — | | | | — | |
| Year Ended July 31, 2017(f) | | $ | 32.96 | | | | (0.81 | ) | | | 5.12 | | | | 4.31 | | | | — | | | | — | |
| Year Ended July 31, 2016(f) | | $ | 43.10 | | | | (0.96 | ) | | | (9.18 | ) | | | (10.14 | ) | | | — | | | | — | |
| Year Ended July 31, 2015(f) | | $ | 52.18 | | | | (1.20 | ) | | | (7.88 | ) | | | (9.08 | ) | | | — | | | | — | |
| | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
Net
Asset
Value,
End of
Period | | | Total
Return | | | Gross
Expenses(b) | | | Net
Expenses(b) | | | Net
Investment
Income
(Loss)(b) | | | Net
Assets,
End of
Period
(000’s) | | | Portfolio
Turnover
Rate(c) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 55.62 | | | | 9.98 | %(d) | | | 1.74 | % | | | 1.74 | % | | | 1.25 | % | | $ | 11,414 | | | | 118 | %(d) |
| $ | 51.60 | | | | 16.49 | % | | | 1.62 | % | | | 1.62 | % | | | 1.71 | % | | $ | 25,665 | | | | 345 | % |
| $ | 45.14 | | | | 3.41 | % | | | 1.92 | % | | | 1.89 | % | | | 0.52 | % | | $ | 6,197 | | | | 374 | % |
| $ | 43.65 | | | | (4.85 | )% | | | 1.68 | % | | | 1.68 | % | | | 0.21 | % | | $ | 10,717 | | | | 195 | % |
| $ | 47.55 | | | | 26.77 | % | | | 1.65 | % | | | 1.65 | % | | | 0.55 | % | | $ | 64,740 | | | | 101 | % |
| $ | 37.58 | | | | 10.15 | % | | | 1.74 | % | | | 1.74 | % | | | 0.20 | % | | $ | 22,679 | | | | 112 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 53.11 | | | | 9.40 | %(d) | | | 2.74 | % | | | 2.74 | % | | | 0.25 | % | | $ | 759 | | | | 118 | %(d) |
| $ | 49.28 | | | | 15.35 | % | | | 2.62 | % | | | 2.62 | % | | | 0.71 | % | | $ | 1,007 | | | | 345 | % |
| $ | 42.78 | | | | 2.42 | % | | | 2.92 | % | | | 2.89 | % | | | (0.48 | )% | | $ | 737 | | | | 374 | % |
| $ | 41.77 | | | | (5.79 | )% | | | 2.68 | % | | | 2.68 | % | | | (0.79 | )% | | $ | 692 | | | | 195 | % |
| $ | 45.73 | | | | 25.49 | % | | | 2.65 | % | | | 2.65 | % | | | (0.45 | )% | | $ | 5,669 | | | | 101 | % |
| $ | 36.44 | | | | 8.97 | % | | | 2.74 | % | | | 2.74 | % | | | (0.80 | )% | | $ | 3,030 | | | | 112 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 29.83 | | | | (14.88 | )%(d) | | | 1.81 | % | | | 1.81 | % | | | (0.06 | )% | | $ | 9,891 | | | | — | |
| $ | 35.49 | | | | (14.58 | )% | | | 1.56 | % | | | 1.56 | % | | | 0.67 | % | | $ | 30,192 | | | | — | |
| $ | 41.55 | | | | 0.70 | % | | | 1.50 | % | | | 1.50 | % | | | (0.21 | )% | | $ | 26,114 | | | | — | |
| $ | 41.26 | | | | 14.10 | % | | | 1.54 | % | | | 1.54 | % | | | (1.06 | )% | | $ | 32,933 | | | | — | |
| $ | 36.13 | | | | (22.60 | )% | | | 1.48 | % | | | 1.48 | % | | | (1.30 | )% | | $ | 34,905 | | | | — | |
| $ | 46.76 | | | | (16.57 | )% | | | 1.57 | % | | | 1.57 | % | | | (1.54 | )% | | $ | 61,774 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 26.61 | | | | (15.28 | )%(d) | | | 2.81 | % | | | 2.81 | % | | | (1.06 | )% | | $ | 151 | | | | — | |
| $ | 31.42 | | | | (15.47 | )% | | | 2.56 | % | | | 2.56 | % | | | (0.33 | )% | | $ | 209 | | | | — | |
| $ | 37.17 | | | | (0.27 | )% | | | 2.50 | % | | | 2.50 | % | | | (1.21 | )% | | $ | 1,031 | | | | — | |
| $ | 37.27 | | | | 13.08 | % | | | 2.54 | % | | | 2.54 | % | | | (2.06 | )% | | $ | 518 | | | | — | |
| $ | 32.96 | | | | (23.56 | )% | | | 2.48 | % | | | 2.48 | % | | | (2.30 | )% | | $ | 2,172 | | | | — | |
| $ | 43.10 | | | | (17.33 | )% | | | 2.57 | % | | | 2.57 | % | | | (2.54 | )% | | $ | 10,014 | | | | — | |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Annualized for periods less than one year. |
| (c) | Portfolio turnover rate is calculated without regard to instruments having a maturity of less than one year from acquisition or derivative instruments (including swap agreements and futures contracts). The portfolio turnover rate can be high and volatile due to the amount and timing of sales and purchases of fund shares during the period. Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between classes of shares issued. |
| (d) | Not annualized for periods less than one year. |
| (e) | Subsequent to the issuance of the July 31, 2017 financial statements, $0.11 and $0.09 of the distribution for the Investor class and Service class respectively was determined to be a return of capital. |
| (f) | As described in Note 9, share amounts have been adjusted for 1:8 reverse share split that occurred on December 5, 2016. |
See accompanying notes to the financial statements.
Financial Highlights :: 245
ProFunds Financial Highlights FOR THE PERIODS INDICATED
Selected data for a share of beneficial interest outstanding throughout the periods indicated.
| | | | | | Investment Activities | | | Distributions to Shareholders From | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income
(Loss)(a) | | | Net
Realized
and
Unrealized
Gains
(Losses) on
Investments | | | Total from
Investment
Activities | | | Net
Investment
Income | | | Net
Realized
Gains on
Investments | | | Total
Distributions | |
| Rising Rates Opportunity 10 ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 14.16 | | | | (0.01 | ) | | | (0.67 | ) | | | (0.68 | ) | | | (0.08 | ) | | | — | | | | (0.08 | ) |
| Year Ended July 31, 2019 | | $ | 15.46 | | | | 0.06 | | | | (1.36 | ) | | | (1.30 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 14.91 | | | | (0.06 | ) | | | 0.61 | | | | 0.55 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 14.26 | | | | (0.18 | ) | | | 0.83 | | | | 0.65 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 15.80 | | | | (0.23 | ) | | | (1.31 | ) | | | (1.54 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 17.08 | | | | (0.27 | ) | | | (1.01 | ) | | | (1.28 | ) | | | — | | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 13.22 | | | | (0.08 | ) | | | (0.62 | ) | | | (0.70 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 14.57 | | | | (0.08 | ) | | | (1.27 | ) | | | (1.35 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 14.20 | | | | (0.20 | ) | | | 0.57 | | | | 0.37 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 13.72 | | | | (0.33 | ) | | | 0.81 | | | | 0.48 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 15.34 | | | | (0.37 | ) | | | (1.25 | ) | | | (1.62 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 16.76 | | | | (0.43 | ) | | | (0.99 | ) | | | (1.42 | ) | | | — | | | | — | | | | — | |
| Rising U.S. Dollar ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 29.59 | | | | (0.02 | ) | | | (0.10 | ) | | | (0.12 | ) | | | (0.08 | ) | | | — | | | | (0.08 | ) |
| Year Ended July 31, 2019 | | $ | 27.81 | | | | 0.08 | | | | 1.82 | | | | 1.90 | | | | — | | | | (0.12 | ) | | | (0.12 | ) |
| Year Ended July 31, 2018 | | $ | 27.10 | | | | (0.15 | ) | | | 0.86 | | | | 0.71 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 28.06 | | | | (0.36 | ) | | | (0.60 | ) | | | (0.96 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 29.06 | | | | (0.41 | ) | | | (0.59 | ) | | | (1.00 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 24.94 | | | | (0.42 | ) | | | 4.54 | | | | 4.12 | | | | — | | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 26.34 | | | | (0.15 | ) | | | (0.09 | ) | | | (0.24 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 25.02 | | | | (0.18 | ) | | | 1.62 | | | | 1.44 | | | | — | | | | (0.12 | ) | | | (0.12 | ) |
| Year Ended July 31, 2018 | | $ | 24.59 | | | | (0.40 | ) | | | 0.83 | | | | 0.43 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 25.74 | | | | (0.62 | ) | | | (0.53 | ) | | | (1.15 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 26.93 | | | | (0.68 | ) | | | (0.51 | ) | | | (1.19 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 23.34 | | | | (0.68 | ) | | | 4.27 | | | | 3.59 | | | | — | | | | — | | | | — | |
| | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
Net
Asset
Value,
End of
Period | | | Total
Return | | | Gross
Expenses(b) | | | Net
Expenses(b) | | | Net
Investment
Income
(Loss)(b) | | | Net
Assets,
End of
Period
(000’s) | | | Portfolio
Turnover
Rate(c) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 13.40 | | | | (4.81 | )%(d) | | | 2.56 | % | | | 1.90 | % | | | (0.22 | )% | | $ | 2,735 | | | | — | |
| $ | 14.16 | | | | (8.41 | )% | | | 1.79 | % | | | 1.74 | % | | | 0.38 | % | | $ | 2,683 | | | | — | |
| $ | 15.46 | | | | 3.69 | % | | | 1.73 | % | | | 1.73 | % | | | (0.37 | )% | | $ | 16,172 | | | | — | |
| $ | 14.91 | | | | 4.48 | % | | | 1.73 | % | | | 1.73 | % | | | (1.22 | )% | | $ | 8,677 | | | | — | |
| $ | 14.26 | | | | (9.68 | )% | | | 1.63 | % | | | 1.63 | % | | | (1.49 | )% | | $ | 7,982 | | | | — | |
| $ | 15.80 | | | | (7.49 | )% | | | 1.69 | % | | | 1.69 | % | | | (1.66 | )% | | $ | 22,770 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 12.52 | | | | (5.29 | )%(d) | | | 3.56 | % | | | 2.90 | % | | | (1.22 | )% | | $ | 200 | | | | — | |
| $ | 13.22 | | | | (9.27 | )% | | | 2.79 | % | | | 2.74 | % | | | (0.62 | )% | | $ | 288 | | | | — | |
| $ | 14.57 | | | | 2.61 | % | | | 2.73 | % | | | 2.73 | % | | | (1.37 | )% | | $ | 350 | | | | — | |
| $ | 14.20 | | | | 3.50 | % | | | 2.73 | % | | | 2.73 | % | | | (2.22 | )% | | $ | 486 | | | | — | |
| $ | 13.72 | | | | (10.56 | )% | | | 2.63 | % | | | 2.63 | % | | | (2.49 | )% | | $ | 1,340 | | | | — | |
| $ | 15.34 | | | | (8.47 | )% | | | 2.69 | % | | | 2.69 | % | | | (2.66 | )% | | $ | 394 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 29.39 | | | | (0.41 | )%(d) | | | 2.04 | % | | | 1.78 | % | | | (0.15 | )% | | $ | 8,916 | | | | — | |
| $ | 29.59 | | | | 6.85 | % | | | 1.87 | % | | | 1.81 | % | | | 0.28 | % | | $ | 12,437 | | | | — | |
| $ | 27.81 | | | | 2.62 | % | | | 1.80 | % | | | 1.80 | % | | | (0.57 | )% | | $ | 14,793 | | | | — | |
| $ | 27.10 | | | | (3.42 | )% | | | 1.67 | % | | | 1.67 | % | | | (1.25 | )% | | $ | 17,956 | | | | — | |
| $ | 28.06 | | | | (3.44 | )% | | | 1.65 | % | | | 1.65 | % | | | (1.48 | )% | | $ | 33,566 | | | | — | |
| $ | 29.06 | | | | 16.52 | % | | | 1.57 | % | | | 1.57 | % | | | (1.54 | )% | | $ | 35,640 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 26.10 | | | | (0.91 | )%(d) | | | 3.04 | % | | | 2.78 | % | | | (1.15 | )% | | $ | 129 | | | | — | |
| $ | 26.34 | | | | 5.77 | % | | | 2.87 | % | | | 2.81 | % | | | (0.72 | )% | | $ | 144 | | | | — | |
| $ | 25.02 | | | | 1.67 | % | | | 2.80 | % | | | 2.80 | % | | | (1.57 | )% | | $ | 1,002 | | | | — | |
| $ | 24.59 | | | | (4.39 | )% | | | 2.67 | % | | | 2.67 | % | | | (2.25 | )% | | $ | 4,399 | | | | — | |
| $ | 25.74 | | | | (4.42 | )% | | | 2.65 | % | | | 2.65 | % | | | (2.48 | )% | | $ | 12,531 | | | | — | |
| $ | 26.93 | | | | 15.38 | % | | | 2.57 | % | | | 2.57 | % | | | (2.54 | )% | | $ | 14,610 | | | | — | |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Annualized for periods less than one year. |
| (c) | Portfolio turnover rate is calculated without regard to instruments having a maturity of less than one year from acquisition or derivative instruments (including swap agreements and futures contracts). |
| (d) | Not annualized for periods less than one year. |
See accompanying notes to the financial statements.
246 :: Financial Highlights
ProFunds Financial Highlights FOR THE PERIODS INDICATED
Selected data for a share of beneficial interest outstanding throughout the periods indicated.
| | | | | | Investment Activities | | | Distributions to Shareholders From | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income
(Loss)(a) | | | Net
Realized
and
Unrealized
Gains
(Losses) on
Investments | | | Total from
Investment
Activities | | | Net
Investment
Income | | | Net
Realized
Gains on
Investments | | | Total
Distributions | |
| Semiconductor UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 46.14 | | | | 0.05 | | | | 10.59 | | | | 10.64 | | | | (0.02 | ) | | | (1.26 | ) | | | (1.28 | ) |
| Year Ended July 31, 2019 | | $ | 61.56 | | | | 0.34 | | | | (2.58 | )(e) | | | (2.24 | ) | | | (0.53 | ) | | | (12.65 | ) | | | (13.18 | ) |
| Year Ended July 31, 2018 | | $ | 48.20 | | | | 0.04 | | | | 19.14 | | | | 19.18 | | | | (0.06 | ) | | | (5.76 | ) | | | (5.82 | ) |
| Year Ended July 31, 2017 | | $ | 33.02 | | | | — | (f) | | | 15.36 | | | | 15.36 | | | | (0.06 | ) | | | (0.12 | ) | | | (0.18 | ) |
| Year Ended July 31, 2016 | | $ | 25.08 | | | | (0.03 | ) | | | 8.16 | | | | 8.13 | | | | — | | | | (0.19 | ) | | | (0.19 | ) |
| Year Ended July 31, 2015 | | $ | 24.93 | | | | (0.01 | ) | | | 0.16 | | | | 0.15 | | | | — | | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 35.79 | | | | (0.15 | ) | | | 8.07 | | | | 7.92 | | | | — | | | | (1.26 | ) | | | (1.26 | ) |
| Year Ended July 31, 2019 | | $ | 51.46 | | | | (0.04 | ) | | | (2.98 | )(e) | | | (3.02 | ) | | | — | | | | (12.65 | ) | | | (12.65 | ) |
| Year Ended July 31, 2018 | | $ | 41.34 | | | | (0.47 | ) | | | 16.35 | | | | 15.88 | | | | — | | | | (5.76 | ) | | | (5.76 | ) |
| Year Ended July 31, 2017 | | $ | 28.58 | | | | (0.35 | ) | | | 13.23 | | | | 12.88 | | | | — | | | | (0.12 | ) | | | (0.12 | ) |
| Year Ended July 31, 2016 | | $ | 21.95 | | | | (0.27 | ) | | | 7.09 | | | | 6.82 | | | | — | | | | (0.19 | ) | | | (0.19 | ) |
| Year Ended July 31, 2015 | | $ | 22.04 | | | | (0.26 | ) | | | 0.17 | | | | (0.09 | ) | | | — | | | | — | | | | — | |
| Short Nasdaq-100 ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited)(h) | | $ | 33.46 | | | | (0.01 | ) | | | (4.47 | ) | | | (4.48 | ) | | | (0.09 | ) | | | — | | | | (0.09 | ) |
| Year Ended July 31, 2019(h) | | $ | 37.30 | | | | 0.16 | | | | (4.00 | ) | | | (3.84 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2018(h) | | $ | 47.10 | | | | (0.20 | ) | | | (9.60 | ) | | | (9.80 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2017(h) | | $ | 60.02 | | | | (0.76 | ) | | | (12.16 | ) | | | (12.92 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016(h) | | $ | 66.72 | | | | (1.08 | ) | | | (5.62 | ) | | | (6.70 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015(h) | | $ | 83.48 | | | | (1.28 | ) | | | (15.48 | ) | | | (16.76 | ) | | | — | | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited)(h) | | $ | 30.15 | | | | (0.15 | ) | | | (4.01 | ) | | | (4.16 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2019(h) | | $ | 33.96 | | | | (0.16 | ) | | | (3.65 | ) | | | (3.81 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2018(h) | | $ | 43.27 | | | | (0.56 | ) | | | (8.75 | ) | | | (9.31 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2017(h) | | $ | 55.70 | | | | (1.28 | ) | | | (11.15 | ) | | | (12.43 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016(h) | | $ | 62.44 | | | | (1.72 | ) | | | (5.02 | ) | | | (6.74 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015(h) | | $ | 78.76 | | | | (2.00 | ) | | | (14.32 | ) | | | (16.32 | ) | | | — | | | | — | | | | — | |
| | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
Net
Asset
Value,
End of
Period | | | Total
Return | | | Gross
Expenses(b) | | | Net
Expenses(b) | | | Net
Investment
Income
(Loss)(b) | | | Net
Assets,
End of
Period
(000’s) | | | Portfolio
Turnover
Rate(c) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 55.50 | | | | 24.13 | %(d) | | | 1.56 | % | | | 1.56 | % | | | 0.18 | % | | $ | 201,075 | | | | 34 | %(d) |
| $ | 46.14 | | | | 5.55 | % | | | 1.55 | % | | | 1.55 | % | | | 0.69 | % | | $ | 64,715 | | | | 106 | % |
| $ | 61.56 | | | | 40.36 | % | | | 1.44 | % | | | 1.44 | % | | | 0.07 | % | | $ | 245,143 | | | | 56 | % |
| $ | 48.20 | | | | 46.57 | % | | | 1.46 | % | | | 1.46 | % | | | — | %(g) | | $ | 176,966 | | | | 27 | % |
| $ | 33.02 | | | | 32.59 | % | | | 1.77 | % | | | 1.77 | % | | | (0.13 | )% | | $ | 18,500 | | | | 253 | % |
| $ | 25.08 | | | | 0.60 | % | | | 1.71 | % | | | 1.71 | % | | | (0.05 | )% | | $ | 14,804 | | | | 40 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 42.45 | | | | 23.48 | %(d) | | | 2.56 | % | | | 2.56 | % | | | (0.82 | )% | | $ | 2,834 | | | | 34 | %(d) |
| $ | 35.79 | | | | 4.49 | % | | | 2.55 | % | | | 2.55 | % | | | (0.31 | )% | | $ | 1,984 | | | | 106 | % |
| $ | 51.46 | | | | 38.97 | % | | | 2.44 | % | | | 2.44 | % | | | (0.93 | )% | | $ | 4,691 | | | | 56 | % |
| $ | 41.34 | | | | 45.10 | % | | | 2.46 | % | | | 2.46 | % | | | (1.00 | )% | | $ | 4,151 | | | | 27 | % |
| $ | 28.58 | | | | 31.26 | % | | | 2.77 | % | | | 2.77 | % | | | (1.13 | )% | | $ | 517 | | | | 253 | % |
| $ | 21.95 | | | | (0.41 | )% | | | 2.71 | % | | | 2.71 | % | | | (1.05 | )% | | $ | 843 | | | | 40 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 28.89 | | | | (13.35 | )%(d) | | | 2.16 | % | | | 1.78 | % | | | (0.06 | )% | | $ | 5,991 | | | | — | |
| $ | 33.46 | | | | (10.40 | )% | | | 2.37 | % | | | 1.78 | % | | | 0.46 | % | | $ | 4,429 | | | | — | |
| $ | 37.30 | | | | (20.66 | )% | | | 2.42 | % | | | 1.78 | % | | | (0.44 | )% | | $ | 2,572 | | | | — | |
| $ | 47.10 | | | | (21.65 | )% | | | 2.24 | % | | | 1.77 | % | | | (1.37 | )% | | $ | 2,444 | | | | — | |
| $ | 60.02 | | | | (10.01 | )% | | | 1.86 | % | | | 1.78 | % | | | (1.64 | )% | | $ | 9,912 | | | | — | |
| $ | 66.72 | | | | (20.08 | )% | | | 2.26 | % | | | 1.78 | % | | | (1.75 | )% | | $ | 47,555 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 25.99 | | | | (13.83 | )%(d) | | | 3.16 | % | | | 2.78 | % | | | (1.06 | )% | | $ | 587 | | | | — | |
| $ | 30.15 | | | | (11.19 | )% | | | 3.37 | % | | | 2.78 | % | | | (0.54 | )% | | $ | 788 | | | | — | |
| $ | 33.96 | | | | (21.46 | )% | | | 3.42 | % | | | 2.78 | % | | | (1.44 | )% | | $ | 360 | | | | — | |
| $ | 43.27 | | | | (22.40 | )% | | | 3.24 | % | | | 2.77 | % | | | (2.37 | )% | | $ | 141 | | | | — | |
| $ | 55.70 | | | | (10.76 | )% | | | 2.86 | % | | | 2.78 | % | | | (2.64 | )% | | $ | 164 | | | | — | |
| $ | 62.44 | | | | (20.72 | )% | | | 3.26 | % | | | 2.78 | % | | | (2.75 | )% | | $ | 2,348 | | | | — | |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Annualized for periods less than one year. |
| (c) | Portfolio turnover rate is calculated without regard to instruments having a maturity of less than one year from acquisition or derivative instruments (including swap agreements and futures contracts). The portfolio turnover rate can be high and volatile due to the amount and timing of sales and purchases of fund shares during the period. Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between classes of shares issued. |
| (d) | Not annualized for periods less than one year. |
| (e) | The amount shown for a share outstanding throughout the period does not accord with the change in aggregate gains and losses in the portfolio of securities during the period because of the timing of sales and purchases of fund shares in relation to fluctuating market values during the period. |
| (f) | Amount is less than $0.005. |
| (g) | Amount is less than 0.005%. |
| (h) | As described in Note 9, share amounts have been adjusted for 1:4 reverse share split that occurred on November 18, 2019. |
See accompanying notes to the financial statements.
Financial Highlights :: 247
ProFunds Financial HighlightsFOR THE PERIODS INDICATED
Selected data for a share of beneficial interest outstanding throughout the periods indicated.
| | | | | | Investment Activities | | | Distributions to
Shareholders From | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income
(Loss)(a) | | | Net
Realized
and
Unrealized
Gains
(Losses) on
Investments | | | Total from
Investment
Activities | | | Net
Investment
Income | | | Total
Distributions | |
| Short Oil & Gas ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 46.83 | | | | (0.01 | ) | | | 4.95 | | | | 4.94 | | | | (0.13 | ) | | | (0.13 | ) |
| Year Ended July 31, 2019 | | $ | 39.19 | | | | 0.19 | | | | 7.45 | | | | 7.64 | | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 48.45 | | | | (0.21 | ) | | | (9.05 | ) | | | (9.26 | ) | | | — | | | | — | |
| Year Ended July 31, 2017(e) | | $ | 50.10 | | | | (0.61 | ) | | | (1.04 | ) | | | (1.65 | ) | | | — | | | | — | |
| Year Ended July 31, 2016(e) | | $ | 55.12 | | | | (0.96 | ) | | | (4.06 | ) | | | (5.02 | ) | | | — | | | | — | |
| Year Ended July 31, 2015(e) | | $ | 42.89 | | | | (0.80 | ) | | | 13.03 | | | | 12.23 | | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 44.39 | | | | (0.24 | ) | | | 4.78 | | | | 4.54 | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 37.27 | | | | (0.24 | ) | | | 7.36 | | | | 7.12 | | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 46.66 | | | | (0.68 | ) | | | (8.71 | ) | | | (9.39 | ) | | | — | | | | — | |
| Year Ended July 31, 2017(e) | | $ | 48.73 | | | | (1.06 | ) | | | (1.01 | ) | | | (2.07 | ) | | | — | | | | — | |
| Year Ended July 31, 2016(e) | | $ | 54.22 | | | | (1.52 | ) | | | (3.97 | ) | | | (5.49 | ) | | | — | | | | — | |
| Year Ended July 31, 2015(e) | | $ | 42.67 | | | | (1.36 | ) | | | 12.91 | | | | 11.55 | | | | — | | | | — | |
| Short Precious Metals ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 32.94 | | | | — | (g) | | | (6.30 | ) | | | (6.30 | ) | | | (0.27 | ) | | | (0.27 | ) |
| Year Ended July 31, 2019 | | $ | 42.91 | | | | 0.20 | | | | (10.17 | ) | | | (9.97 | ) | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 40.33 | | | | (0.21 | ) | | | 2.79 | | | | 2.58 | | | | — | | | | — | |
| Year Ended July 31, 2017(e) | | $ | 35.17 | | | | (0.57 | ) | | | 5.73 | | | | 5.16 | | | | — | | | | — | |
| Year Ended July 31, 2016(e) | | $ | 105.09 | | | | (1.12 | ) | | | (68.80 | ) | | | (69.92 | ) | | | — | | | | — | |
| Year Ended July 31, 2015(e) | | $ | 59.25 | | | | (1.36 | ) | | | 47.20 | | | | 45.84 | | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 32.41 | | | | (0.15 | ) | | | (6.17 | ) | | | (6.32 | ) | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 42.65 | | | | (0.22 | ) | | | (10.02 | ) | | | (10.24 | ) | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 40.48 | | | | (0.61 | ) | | | 2.78 | | | | 2.17 | | | | — | | | | — | |
| Year Ended July 31, 2017(e) | | $ | 35.70 | | | | (0.97 | ) | | | 5.75 | | | | 4.78 | | | | — | | | | — | |
| Year Ended July 31, 2016(e) | | $ | 107.82 | | | | (2.00 | ) | | | (70.12 | ) | | | (72.12 | ) | | | — | | | | — | |
| Year Ended July 31, 2015(e) | | $ | 61.45 | | | | (2.16 | ) | | | 48.53 | | | | 46.37 | | | | — | | | | — | |
| | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
Net
Asset
Value,
End of
Period | | | Total
Return | | | Gross
Expenses(b) | | | Net
Expenses(b) | | | Net
Investment
Income
(Loss)(b) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(c) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 51.64 | | | | 10.58 | %(d) | | | 3.29 | % | | | 1.78 | % | | | (0.05 | )% | | $ | 2,705 | | | | — | |
| $ | 46.83 | | | | 19.49 | % | | | 3.34 | % | | | 1.78 | % | | | 0.43 | % | | $ | 2,115 | | | | — | |
| $ | 39.19 | | | | (19.11 | )% | | | 2.62 | % | | | 1.78 | % | | | (0.48 | )% | | $ | 1,636 | | | | — | |
| $ | 48.45 | | | | (3.25 | )% | | | 2.76 | % | | | 1.77 | % | | | (1.30 | )% | | $ | 2,491 | | | | — | |
| $ | 50.10 | | | | (9.14 | )% | | | 2.26 | % | | | 1.80 | %(f) | | | (1.64 | )% | | $ | 2,922 | | | | — | |
| $ | 55.12 | | | | 28.54 | % | | | 2.50 | % | | | 1.74 | % | | | (1.71 | )% | | $ | 2,725 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 48.93 | | | | 10.08 | %(d) | | | 4.29 | % | | | 2.78 | % | | | (1.05 | )% | | $ | 5 | | | | — | |
| $ | 44.39 | | | | 18.39 | % | | | 4.34 | % | | | 2.78 | % | | | (0.57 | )% | | $ | 3 | | | | — | |
| $ | 37.27 | | | | (19.95 | )% | | | 3.62 | % | | | 2.78 | % | | | (1.48 | )% | | $ | 3 | | | | — | |
| $ | 46.66 | | | | (4.21 | )% | | | 3.76 | % | | | 2.77 | % | | | (2.30 | )% | | $ | 139 | | | | — | |
| $ | 48.73 | | | | (10.18 | )% | | | 3.26 | % | | | 2.80 | %(f) | | | (2.64 | )% | | $ | 283 | | | | — | |
| $ | 54.22 | | | | 27.20 | % | | | 3.50 | % | | | 2.74 | % | | | (2.71 | )% | | $ | 114 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 26.37 | | | | (19.11 | )%(d) | | | 2.58 | % | | | 1.78 | % | | | (0.02 | )% | | $ | 1,247 | | | | — | |
| $ | 32.94 | | | | (23.23 | )% | | | 2.13 | % | | | 1.78 | % | | | 0.47 | % | | $ | 4,649 | | | | — | |
| $ | 42.91 | | | | 6.40 | % | | | 2.18 | % | | | 1.78 | % | | | (0.53 | )% | | $ | 6,552 | | | | — | |
| $ | 40.33 | | | | 14.57 | % | | | 2.00 | % | | | 1.85 | % | | | (1.39 | )% | | $ | 3,432 | | | | — | |
| $ | 35.17 | | | | (66.51 | )% | | | 1.98 | % | | | 1.86 | % | | | (1.70 | )% | | $ | 11,839 | | | | — | |
| $ | 105.09 | | | | 77.33 | % | | | 1.75 | % | | | 1.75 | % | | | (1.72 | )% | | $ | 11,647 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 26.09 | | | | (19.50 | )%(d) | | | 3.58 | % | | | 2.78 | % | | | (1.02 | )% | | $ | 21 | | | | — | |
| $ | 32.41 | | | | (24.01 | )% | | | 3.13 | % | | | 2.78 | % | | | (0.53 | )% | | $ | 26 | | | | — | |
| $ | 42.65 | | | | 5.36 | % | | | 3.18 | % | | | 2.78 | % | | | (1.53 | )% | | $ | 42 | | | | — | |
| $ | 40.48 | | | | 13.45 | % | | | 3.00 | % | | | 2.85 | % | | | (2.39 | )% | | $ | 336 | | | | — | |
| $ | 35.70 | | | | (66.91 | )% | | | 2.98 | % | | | 2.86 | % | | | (2.70 | )% | | $ | 7,692 | | | | — | |
| $ | 107.82 | | | | 75.52 | % | | | 2.75 | % | | | 2.75 | % | | | (2.72 | )% | | $ | 12,483 | | | | — | |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Annualized for periods less than one year. |
| (c) | Portfolio turnover rate is calculated without regard to instruments having a maturity of less than one year from acquisition or derivative instruments (including swap agreements and futures contracts). |
| (d) | Not annualized for periods less than one year. |
| (e) | As described in Note 9, share amounts have been adjusted for 1:8 reverse share split that occurred on December 5, 2016. |
| (f) | The expense ratio does not correlate to the applicable expense limits in place during the period given that the annual contractual expense limitation is applied for the one year periods ended November 30th of each year, instead of coinciding with the July 31st year end. Details of the current expense limitation in effect can be found in Note 4 of the accompanying Notes to Financial Statements. |
| (g) | Amount is less than $0.005. |
See accompanying notes to the financial statements.
248 :: Financial Highlights
ProFunds Financial HighlightsFOR THE PERIODS INDICATED
Selected data for a share of beneficial interest outstanding throughout the periods indicated.
| | | | | | Investment Activities | | | Distributions to
Shareholders From | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income
(Loss)(a) | | | Net
Realized
and
Unrealized
Gains
(Losses) on
Investments | | | Total from
Investment
Activities | | | Net
Investment
Income | | | Total
Distributions | |
| Short Real Estate ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 12.89 | | | | (0.01 | ) | | | (0.92 | ) | | | (0.93 | ) | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 14.61 | | | | 0.06 | | | | (1.78 | ) | | | (1.72 | ) | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 15.43 | | | | (0.06 | ) | | | (0.76 | ) | | | (0.82 | ) | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 15.67 | | | | (0.23 | ) | | | (0.01 | ) | | | (0.24 | ) | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 19.65 | | | | (0.31 | ) | | | (3.67 | ) | | | (3.98 | ) | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 22.19 | | | | (0.35 | ) | | | (2.19 | ) | | | (2.54 | ) | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 11.53 | | | | (0.06 | ) | | | (0.82 | ) | | | (0.88 | ) | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 13.20 | | | | (0.07 | ) | | | (1.60 | ) | | | (1.67 | ) | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 14.08 | | | | (0.20 | ) | | | (0.68 | ) | | | (0.88 | ) | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 14.45 | | | | (0.39 | ) | | | 0.02 | | | | (0.37 | ) | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 18.28 | | | | (0.48 | ) | | | (3.35 | ) | | | (3.83 | ) | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 20.84 | | | | (0.54 | ) | | | (2.02 | ) | | | (2.56 | ) | | | — | | | | — | |
| Short Small-Cap ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 13.10 | | | | — | (e) | | | (0.49 | ) | | | (0.49 | ) | | | (0.10 | ) | | | (0.10 | ) |
| Year Ended July 31, 2019 | | $ | 12.68 | | | | 0.06 | | | | 0.36 | | | | 0.42 | | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 15.29 | | | | (0.09 | ) | | | (2.52 | ) | | | (2.61 | ) | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 18.74 | | | | (0.25 | ) | | | (3.20 | ) | | | (3.45 | ) | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 19.90 | | | | (0.33 | ) | | | (0.83 | ) | | | (1.16 | ) | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 23.37 | | | | (0.37 | ) | | | (3.10 | ) | | | (3.47 | ) | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 12.60 | | | | (0.07 | ) | | | (0.45 | ) | | | (0.52 | ) | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 12.31 | | | | (0.07 | ) | | | 0.36 | | | | 0.29 | | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 15.01 | | | | (0.22 | ) | | | (2.48 | ) | | | (2.70 | ) | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 18.58 | | | | (0.42 | ) | | | (3.15 | ) | | | (3.57 | ) | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 19.94 | | | | (0.55 | ) | | | (0.81 | ) | | | (1.36 | ) | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 23.63 | | | | (0.58 | ) | | | (3.11 | ) | | | (3.69 | ) | | | — | | | | — | |
| | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
Net
Asset
Value,
End of
Period | | | Total
Return | | | Gross
Expenses(b) | | | Net
Expenses(b) | | | Net
Investment
Income
(Loss)(b) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(c) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 11.96 | | | | (7.21 | )%(d) | | | 5.05 | % | | | 1.78 | % | | | (0.12 | )% | | $ | 803 | | | | — | |
| $ | 12.89 | | | | (11.77 | )% | | | 3.76 | % | | | 1.78 | % | | | 0.40 | % | | $ | 1,199 | | | | — | |
| $ | 14.61 | | | | (5.31 | )% | | | 3.16 | % | | | 1.78 | % | | | (0.38 | )% | | $ | 1,453 | | | | — | |
| $ | 15.43 | | | | (1.53 | )% | | | 3.33 | % | | | 1.78 | % | | | (1.39 | )% | | $ | 772 | | | | — | |
| $ | 15.67 | | | | (20.25 | )% | | | 2.91 | % | | | 1.78 | % | | | (1.64 | )% | | $ | 1,268 | | | | — | |
| $ | 19.65 | | | | (11.45 | )% | | | 2.68 | % | | | 1.78 | % | | | (1.75 | )% | | $ | 3,646 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 10.65 | | | | (7.71 | )%(d) | | | 6.05 | % | | | 2.78 | % | | | (1.12 | )% | | $ | 14 | | | | — | |
| $ | 11.53 | | | | (12.58 | )% | | | 4.76 | % | | | 2.78 | % | | | (0.60 | )% | | $ | 15 | | | | — | |
| $ | 13.20 | | | | (6.25 | )% | | | 4.16 | % | | | 2.78 | % | | | (1.38 | )% | | $ | 364 | | | | — | |
| $ | 14.08 | | | | (2.56 | )% | | | 4.33 | % | | | 2.78 | % | | | (2.39 | )% | | $ | 10 | | | | — | |
| $ | 14.45 | | | | (21.00 | )% | | | 3.91 | % | | | 2.78 | % | | | (2.64 | )% | | $ | 8 | | | | — | |
| $ | 18.28 | | | | (12.19 | )% | | | 3.68 | % | | | 2.78 | % | | | (2.75 | )% | | $ | 8 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 12.51 | | | | (3.70 | )%(d) | | | 4.01 | % | | | 1.78 | % | | | (0.03 | )% | | $ | 3,406 | | | | — | |
| $ | 13.10 | | | | 3.31 | % | | | 2.76 | % | | | 1.78 | % | | | 0.44 | % | | $ | 1,138 | | | | — | |
| $ | 12.68 | | | | (17.07 | )% | | | 2.73 | % | | | 1.86 | % | | | (0.61 | )% | | $ | 3,456 | | | | — | |
| $ | 15.29 | | | | (18.41 | )% | | | 2.09 | % | | | 1.85 | % | | | (1.44 | )% | | $ | 1,526 | | | | — | |
| $ | 18.74 | | | | (5.83 | )% | | | 1.74 | % | | | 1.74 | % | | | (1.58 | )% | | $ | 7,178 | | | | — | |
| $ | 19.90 | | | | (14.85 | )% | | | 1.86 | % | | | 1.78 | % | | | (1.75 | )% | | $ | 5,756 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 12.08 | | | | (4.13 | )%(d) | | | 5.01 | % | | | 2.78 | % | | | (1.03 | )% | | $ | 32 | | | | — | |
| $ | 12.60 | | | | 2.27 | % | | | 3.75 | % | | | 2.77 | % | | | (0.55 | )% | | $ | 33 | | | | — | |
| $ | 12.31 | | | | (17.92 | )% | | | 3.73 | % | | | 2.86 | % | | | (1.61 | )% | | $ | 155 | | | | — | |
| $ | 15.01 | | | | (19.21 | )% | | | 3.09 | % | | | 2.85 | % | | | (2.44 | )% | | $ | 373 | | | | — | |
| $ | 18.58 | | | | (6.82 | )% | | | 2.74 | % | | | 2.74 | % | | | (2.58 | )% | | $ | 4,150 | | | | — | |
| $ | 19.94 | | | | (15.62 | )% | | | 2.86 | % | | | 2.78 | % | | | (2.75 | )% | | $ | 5,124 | | | | — | |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Annualized for periods less than one year. |
| (c) | Portfolio turnover rate is calculated without regard to instruments having a maturity of less than one year from acquisition or derivative instruments (including swap agreements and futures contracts). |
| (d) | Not annualized for periods less than one year. |
| (e) | Amount is less than $0.005. |
See accompanying notes to the financial statements.
Financial Highlights :: 249
ProFunds Financial HighlightsFOR THE PERIODS INDICATED
Selected data for a share of beneficial interest outstanding throughout the periods indicated.
| | | | | | Investment Activities | | | Distributions to
Shareholders From | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income
(Loss)(a) | | | Net
Realized
and
Unrealized
Gains
(Losses) on
Investments | | | Total from
Investment
Activities | | | Net
Realized
Gains on
Investments | | | Total
Distributions | |
| Small-Cap ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 85.23 | | | | (0.22 | ) | | | 1.90 | (d) | | | 1.68 | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 90.80 | | | | (0.04 | ) | | | (5.53 | ) | | | (5.57 | ) | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 78.18 | | | | (0.28 | ) | | | 12.90 | | | | 12.62 | | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 67.60 | | | | (0.66 | ) | | | 11.24 | | | | 10.58 | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 68.32 | | | | (0.72 | ) | | | — | (g) | | | (0.72 | ) | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 62.44 | | | | (0.92 | ) | | | 6.80 | | | | 5.88 | | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 71.24 | | | | (0.58 | ) | | | 1.60 | (d) | | | 1.02 | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 76.65 | | | | (0.77 | ) | | | (4.64 | ) | | | (5.41 | ) | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 66.62 | | | | (1.01 | ) | | | 11.04 | | | | 10.03 | | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 58.16 | | | | (1.29 | ) | | | 9.75 | | | | 8.46 | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 59.37 | | | | (1.26 | ) | | | 0.05 | | | | (1.21 | ) | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 54.78 | | | | (1.50 | ) | | | 6.09 | | | | 4.59 | | | | — | | | | — | |
| Small-Cap Growth ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 89.25 | | | | (0.50 | ) | | | 3.00 | | | | 2.50 | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 99.63 | | | | (0.61 | ) | | | (6.40 | ) | | | (7.01 | ) | | | (3.37 | ) | | | (3.37 | ) |
| Year Ended July 31, 2018 | | $ | 80.84 | | | | (0.72 | ) | | | 19.51 | | | | 18.79 | | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 69.40 | | | | (0.43 | ) | | | 11.87 | | | | 11.44 | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 70.34 | | | | (0.34 | ) | | | 1.06 | | | | 0.72 | | | | (1.66 | ) | | | (1.66 | ) |
| Year Ended July 31, 2015 | | $ | 65.44 | | | | (0.38 | ) | | | 10.15 | | | | 9.77 | | | | (4.87 | ) | | | (4.87 | ) |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 72.78 | | | | (0.86 | ) | | | 2.53 | | | | 1.67 | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 82.80 | | | | (1.37 | ) | | | (5.28 | ) | | | (6.65 | ) | | | (3.37 | ) | | | (3.37 | ) |
| Year Ended July 31, 2018 | | $ | 67.86 | | | | (1.44 | ) | | | 16.38 | | | | 14.94 | | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 58.86 | | | | (1.08 | ) | | | 10.08 | | | | 9.00 | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 60.54 | | | | (0.90 | ) | | | 0.88 | | | | (0.02 | ) | | | (1.66 | ) | | | (1.66 | ) |
| Year Ended July 31, 2015 | | $ | 57.48 | | | | (0.97 | ) | | | 8.90 | | | | 7.93 | | | | (4.87 | ) | | | (4.87 | ) |
| | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
Net
Asset
Value,
End of
Period | | | Total
Return | | | Gross
Expenses(b) | | | Net
Expenses(b) | | | Net
Investment
Income
(Loss)(b) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(c) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 86.91 | | | | 1.97 | %(e) | | | 2.26 | % | | | 2.13 | %(f) | | | (0.52 | )% | | $ | 3,644 | | | | 78 | %(e) |
| $ | 85.23 | | | | (6.13 | )% | | | 1.77 | % | | | 1.77 | % | | | (0.05 | )% | | $ | 8,261 | | | | 11 | % |
| $ | 90.80 | | | | 16.14 | % | | | 1.58 | % | | | 1.58 | % | | | (0.34 | )% | | $ | 43,292 | | | | 63 | % |
| $ | 78.18 | | | | 15.65 | % | | | 1.79 | % | | | 1.76 | % | | | (0.90 | )% | | $ | 28,094 | | | | 401 | % |
| $ | 67.60 | | | | (1.05 | )% | | | 1.93 | % | | | 1.80 | % | | | (1.16 | )% | | $ | 48,967 | | | | 190 | % |
| $ | 68.32 | | | | 9.49 | % | | | 1.85 | % | | | 1.76 | % | | | (1.39 | )% | | $ | 22,679 | | | | 114 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 72.26 | | | | 1.43 | %(e) | | | 3.26 | % | | | 3.13 | %(f) | | | (1.52 | )% | | $ | 371 | | | | 78 | %(e) |
| $ | 71.24 | | | | (7.05 | )% | | | 2.77 | % | | | 2.77 | % | | | (1.05 | )% | | $ | 408 | | | | 11 | % |
| $ | 76.65 | | | | 15.06 | % | | | 2.58 | % | | | 2.58 | % | | | (1.34 | )% | | $ | 2,705 | | | | 63 | % |
| $ | 66.62 | | | | 14.53 | % | | | 2.79 | % | | | 2.76 | % | | | (1.90 | )% | | $ | 1,260 | | | | 401 | % |
| $ | 58.16 | | | | (2.02 | )% | | | 2.93 | % | | | 2.80 | % | | | (2.16 | )% | | $ | 560 | | | | 190 | % |
| $ | 59.37 | | | | 8.42 | % | | | 2.85 | % | | | 2.76 | % | | | (2.39 | )% | | $ | 4,217 | | | | 114 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 91.75 | | | | 2.80 | %(e) | | | 1.84 | % | | | 1.84 | % | | | (1.14 | )% | | $ | 9,175 | | | | 277 | %(e) |
| $ | 89.25 | | | | (6.53 | )% | | | 1.65 | % | | | 1.65 | % | | | (0.67 | )% | | $ | 10,121 | | | | 474 | % |
| $ | 99.63 | | | | 23.24 | % | | | 1.68 | % | | | 1.68 | % | | | (0.81 | )% | | $ | 28,543 | | | | 629 | % |
| $ | 80.84 | | | | 16.48 | % | | | 1.78 | % | | | 1.78 | % | | | (0.57 | )% | | $ | 15,569 | | | | 511 | % |
| $ | 69.40 | | | | 1.21 | % | | | 1.91 | % | | | 1.78 | % | | | (0.53 | )% | | $ | 16,250 | | | | 710 | % |
| $ | 70.34 | | | | 15.60 | % | | | 1.85 | % | | | 1.74 | % | | | (0.58 | )% | | $ | 23,772 | | | | 887 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 74.45 | | | | 2.31 | %(e) | | | 2.84 | % | | | 2.84 | % | | | (2.14 | )% | | $ | 1,974 | | | | 277 | %(e) |
| $ | 72.78 | | | | (7.46 | )% | | | 2.65 | % | | | 2.65 | % | | | (1.67 | )% | | $ | 1,905 | | | | 474 | % |
| $ | 82.80 | | | | 22.02 | % | | | 2.68 | % | | | 2.68 | % | | | (1.81 | )% | | $ | 1,751 | | | | 629 | % |
| $ | 67.86 | | | | 15.27 | % | | | 2.78 | % | | | 2.78 | % | | | (1.57 | )% | | $ | 2,651 | | | | 511 | % |
| $ | 58.86 | | | | 0.18 | % | | | 2.91 | % | | | 2.78 | % | | | (1.53 | )% | | $ | 998 | | | | 710 | % |
| $ | 60.54 | | | | 14.50 | % | | | 2.85 | % | | | 2.74 | % | | | (1.58 | )% | | $ | 4,465 | | | | 887 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Annualized for periods less than one year. |
| (c) | Portfolio turnover rate is calculated without regard to instruments having a maturity of less than one year from acquisition or derivative instruments (including swap agreements and futures contracts). The portfolio turnover rate can be high and volatile due to the amount and timing of sales and purchases of fund shares during the period. Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between classes of shares issued. |
| (d) | The amount shown for a share outstanding throughout the period does not accord with the change in aggregate gains and losses in the portfolio of securities during the period because of the timing of sales and purchases of fund shares in relation to fluctuating market values during the period. |
| (e) | Not annualized for periods less than one year. |
| (f) | The expense ratio does not correlate to the applicable expense limits in place during the period given that the annual contractual expense limitation is applied for the one year periods ended November 30th of each year, instead of coinciding with the July 31st year end. Details of the current expense limitation in effect can be found in Note 4 of the accompanying Notes to Financial Statements. |
| (g) | Amount is less than $0.005. |
See accompanying notes to the financial statements.
250 :: Financial Highlights
ProFunds Financial HighlightsFOR THE PERIODS INDICATED
Selected data for a share of beneficial interest outstanding throughout the periods indicated.
| | | | | | Investment Activities | | | Distributions to Shareholders From | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income
(Loss)(a) | | | Net
Realized
and
Unrealized
Gains
(Losses) on
Investments | | | Total from
Investment
Activities | | | Net
Investment
Income | | | Net
Realized
Gains on
Investments | | | Total
Distributions | |
| Small-Cap Value ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 78.32 | | | | 0.12 | | | | 0.04 | (d) | | | 0.16 | | | | (0.06 | ) | | | — | | | | (0.06 | ) |
| Year Ended July 31, 2019 | | $ | 98.51 | | | | (0.23 | ) | | | (10.96 | ) | | | (11.19 | ) | | | — | | | | (9.00 | ) | | | (9.00 | ) |
| Year Ended July 31, 2018 | | $ | 83.05 | | | | (0.19 | ) | | | 15.65 | | | | 15.46 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 72.53 | | | | (0.17 | ) | | | 10.69 | | | | 10.52 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 68.18 | | | | 0.03 | | | | 4.32 | | | | 4.35 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 65.61 | | | | (0.23 | ) | | | 2.80 | | | | 2.57 | | | | — | | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 64.40 | | | | (0.20 | ) | | | 0.01 | (d) | | | (0.19 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 83.80 | | | | (0.92 | ) | | | (9.48 | ) | | | (10.40 | ) | | | — | | | | (9.00 | ) | | | (9.00 | ) |
| Year Ended July 31, 2018 | | $ | 71.35 | | | | (0.96 | ) | | | 13.41 | | | | 12.45 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 62.93 | | | | (0.85 | ) | | | 9.27 | | | | 8.42 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 59.75 | | | | (0.54 | ) | | | 3.72 | | | | 3.18 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 58.07 | | | | (0.83 | ) | | | 2.51 | | | | 1.68 | | | | — | | | | — | | | | — | |
| Technology UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited)(g) | | $ | 49.47 | | | | (0.13 | ) | | | 12.46 | | | | 12.33 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2019(g) | | $ | 42.49 | | | | 0.03 | | | | 7.03 | (d) | | | 7.06 | | | | — | | | | (0.08 | ) | | | (0.08 | ) |
| Year Ended July 31, 2018(g) | | $ | 32.01 | | | | (0.07 | ) | | | 12.23 | | | | 12.16 | | | | — | | | | (1.68 | ) | | | (1.68 | ) |
| Year Ended July 31, 2017(g) | | $ | 22.57 | | | | (0.10 | ) | | | 9.54 | | | | 9.44 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016(g) | | $ | 20.70 | | | | (0.07 | ) | | | 1.94 | | | | 1.87 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015(g) | | $ | 18.25 | | | | (0.12 | ) | | | 2.57 | | | | 2.45 | | | | — | | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited)(g) | | $ | 41.38 | | | | (0.35 | ) | | | 10.40 | | | | 10.05 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2019(g) | | $ | 35.92 | | | | (0.34 | ) | | | 5.88 | (d) | | | 5.54 | | | | — | | | | (0.08 | ) | | | (0.08 | ) |
| Year Ended July 31, 2018(g) | | $ | 27.54 | | | | (0.40 | ) | | | 10.46 | | | | 10.06 | | | | — | | | | (1.68 | ) | | | (1.68 | ) |
| Year Ended July 31, 2017(g) | | $ | 19.61 | | | | (0.34 | ) | | | 8.27 | | | | 7.93 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016(g) | | $ | 18.17 | | | | (0.25 | ) | | | 1.69 | | | | 1.44 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015(g) | | $ | 16.17 | | | | (0.29 | ) | | | 2.29 | | | | 2.00 | | | | — | | | | — | | | | — | |
| | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
Net
Asset
Value,
End of
Period | | | Total
Return | | | Gross
Expenses(b) | | | Net
Expenses(b) | | | Net
Investment
Income
(Loss)(b) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(c) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 78.42 | | | | 0.20 | %(e) | | | 2.03 | % | | | 2.03 | %(f) | | | 0.31 | % | | $ | 4,790 | | | | 366 | %(e) |
| $ | 78.32 | | | | (9.96 | )% | | | 1.74 | % | | | 1.74 | % | | | (0.27 | )% | | $ | 5,380 | | | | 427 | % |
| $ | 98.51 | | | | 18.61 | % | | | 1.75 | % | | | 1.75 | % | | | (0.21 | )% | | $ | 32,670 | | | | 447 | % |
| $ | 83.05 | | | | 14.49 | % | | | 1.78 | % | | | 1.78 | % | | | (0.21 | )% | | $ | 13,113 | | | | 393 | % |
| $ | 72.53 | | | | 6.40 | % | | | 1.83 | % | | | 1.81 | % | | | 0.05 | % | | $ | 25,071 | | | | 1,206 | % |
| $ | 68.18 | | | | 3.92 | % | | | 2.21 | % | | | 1.89 | % | | | (0.34 | )% | | $ | 5,541 | | | | 1,184 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 64.21 | | | | (0.31 | )%(e) | | | 3.03 | % | | | 3.03 | %(f) | | | (0.69 | )% | | $ | 385 | | | | 366 | %(e) |
| $ | 64.40 | | | | (10.83 | )% | | | 2.74 | % | | | 2.74 | % | | | (1.27 | )% | | $ | 429 | | | | 427 | % |
| $ | 83.80 | | | | 17.45 | % | | | 2.75 | % | | | 2.75 | % | | | (1.21 | )% | | $ | 480 | | | | 447 | % |
| $ | 71.35 | | | | 13.34 | % | | | 2.78 | % | | | 2.78 | % | | | (1.21 | )% | | $ | 657 | | | | 393 | % |
| $ | 62.93 | | | | 5.37 | % | | | 2.83 | % | | | 2.81 | % | | | (0.95 | )% | | $ | 594 | | | | 1,206 | % |
| $ | 59.75 | | | | 2.88 | % | | | 3.21 | % | | | 2.89 | % | | | (1.34 | )% | | $ | 373 | | | | 1,184 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 61.80 | | | | 24.92 | %(e) | | | 1.67 | % | | | 1.67 | % | | | (0.49 | )% | | $ | 87,662 | | | | 109 | %(e) |
| $ | 49.47 | | | | 16.70 | % | | | 1.58 | % | | | 1.58 | % | | | 0.06 | % | | $ | 83,112 | | | | 332 | % |
| $ | 42.49 | | | | 38.70 | % | | | 1.49 | % | | | 1.49 | % | | | (0.19 | )% | | $ | 96,683 | | | | 174 | % |
| $ | 32.01 | | | | 41.84 | % | | | 1.55 | % | | | 1.55 | % | | | (0.35 | )% | | $ | 76,225 | | | | 107 | % |
| $ | 22.57 | | | | 9.03 | % | | | 1.82 | % | | | 1.76 | % | | | (0.35 | )% | | $ | 10,270 | | | | 151 | % |
| $ | 20.70 | | | | 13.45 | % | | | 1.71 | % | | | 1.71 | % | | | (0.60 | )% | | $ | 10,010 | | | | 273 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 51.43 | | | | 24.27 | %(e) | | | 2.67 | % | | | 2.67 | % | | | (1.49 | )% | | $ | 3,932 | | | | 109 | %(e) |
| $ | 41.38 | | | | 15.53 | % | | | 2.58 | % | | | 2.58 | % | | | (0.94 | )% | | $ | 3,082 | | | | 332 | % |
| $ | 35.92 | | | | 37.31 | % | | | 2.49 | % | | | 2.49 | % | | | (1.19 | )% | | $ | 5,780 | | | | 174 | % |
| $ | 27.54 | | | | 40.43 | % | | | 2.55 | % | | | 2.55 | % | | | (1.35 | )% | | $ | 3,631 | | | | 107 | % |
| $ | 19.61 | | | | 7.96 | % | | | 2.82 | % | | | 2.76 | % | | | (1.35 | )% | | $ | 1,061 | | | | 151 | % |
| $ | 18.17 | | | | 12.33 | % | | | 2.71 | % | | | 2.71 | % | | | (1.60 | )% | | $ | 2,090 | | | | 273 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Annualized for periods less than one year. |
| (c) | Portfolio turnover rate is calculated without regard to instruments having a maturity of less than one year from acquisition or derivative instruments (including swap agreements and futures contracts). The portfolio turnover rate can be high and volatile due to the amount and timing of sales and purchases of fund shares during the period. Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between classes of shares issued. |
| (d) | The amount shown for a share outstanding throughout the period does not accord with the change in aggregate gains and losses in the portfolio of securities during the period because of the timing of sales and purchases of fund shares in relation to fluctuating market values during the period. |
| (e) | Not annualized for periods less than one year. |
| (f) | The expense ratio does not correlate to the applicable expense limits in place during the period given that the annual contractual expense limitation is applied for the one year periods ended November 30th of each year, instead of coinciding with the July 31st year end. Details of the current expense limitation in effect can be found in Note 4 of the accompanying Notes to Financial Statements. |
| (g) | As described in Note 9, share amounts adjusted for 3:1 share split that occurred on November 18, 2019. |
See accompanying notes to the financial statements.
Financial Highlights :: 251
ProFunds Financial HighlightsFOR THE PERIODS INDICATED
Selected data for a share of beneficial interest outstanding throughout the periods indicated.
| | | | | | Investment Activities | | | Distributions to
Shareholders From | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income
(Loss)(a) | | | Net
Realized
and
Unrealized
Gains
(Losses) on
Investments | | | Total from
Investment
Activities | | | Net
Investment
Income | | | Total
Distributions | |
| Telecommunications UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 21.80 | | | | 0.08 | | | | (0.69 | ) | | | (0.61 | ) | | | (0.37 | ) | | | (0.37 | ) |
| Year Ended July 31, 2019 | | $ | 21.33 | | | | 0.07 | | | | 0.92 | (e) | | | 0.99 | | | | (0.52 | ) | | | (0.52 | ) |
| Year Ended July 31, 2018 | | $ | 24.17 | | | | 0.39 | | | | (2.30 | ) | | | (1.91 | ) | | | (0.93 | ) | | | (0.93 | ) |
| Year Ended July 31, 2017 | | $ | 27.53 | | | | 0.20 | | | | (3.56 | ) | | | (3.36 | ) | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 20.74 | | | | 0.59 | | | | 6.64 | | | | 7.23 | | | | (0.44 | ) | | | (0.44 | ) |
| Year Ended July 31, 2015 | | $ | 21.88 | | | | 0.43 | | | | (1.51 | ) | | | (1.08 | ) | | | (0.06 | ) | | | (0.06 | ) |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 20.99 | | | | (0.02 | ) | | | (0.68 | ) | | | (0.70 | ) | | | (0.10 | ) | | | (0.10 | ) |
| Year Ended July 31, 2019 | | $ | 20.24 | | | | (0.13 | ) | | | 0.96 | (e) | | | 0.83 | | | | (0.08 | ) | | | (0.08 | ) |
| Year Ended July 31, 2018 | | $ | 22.78 | | | | 0.18 | | | | (2.26 | ) | | | (2.08 | ) | | | (0.46 | ) | | | (0.46 | ) |
| Year Ended July 31, 2017 | | $ | 26.20 | | | | (0.04 | ) | | | (3.38 | ) | | | (3.42 | ) | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 19.78 | | | | 0.37 | | | | 6.30 | | | | 6.67 | | | | (0.25 | ) | | | (0.25 | ) |
| Year Ended July 31, 2015 | | $ | 21.01 | | | | 0.23 | | | | (1.46 | ) | | | (1.23 | ) | | | — | | | | — | |
| U.S. Government Plus ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 60.08 | | | | 0.18 | | | | 8.69 | | | | 8.87 | | | | (0.16 | ) | | | (0.16 | ) |
| Year Ended July 31, 2019 | | $ | 52.14 | | | | 0.61 | | | | 7.94 | | | | 8.55 | | | | (0.61 | ) | | | (0.61 | ) |
| Year Ended July 31, 2018 | | $ | 53.83 | | | | 0.20 | | | | (1.78 | ) | | | (1.58 | ) | | | (0.11 | ) | | | (0.11 | ) |
| Year Ended July 31, 2017 | | $ | 63.97 | | | | (0.33 | ) | | | (9.81 | ) | | | (10.14 | ) | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 52.34 | | | | (0.37 | ) | | | 12.00 | | | | 11.63 | | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 46.74 | | | | — | (f) | | | 5.60 | | | | 5.60 | | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 55.37 | | | | (0.13 | ) | | | 8.00 | | | | 7.87 | | | | — | (f) | | | — | (f) |
| Year Ended July 31, 2019 | | $ | 48.09 | | | | 0.12 | | | | 7.24 | | | | 7.36 | | | | (0.08 | ) | | | (0.08 | ) |
| Year Ended July 31, 2018 | | $ | 50.07 | | | | (0.29 | ) | | | (1.68 | ) | | | (1.97 | ) | | | (0.01 | ) | | | (0.01 | ) |
| Year Ended July 31, 2017 | | $ | 60.10 | | | | (0.87 | ) | | | (9.16 | ) | | | (10.03 | ) | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 49.67 | | | | (0.90 | ) | | | 11.33 | | | | 10.43 | | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 44.75 | | | | (0.51 | ) | | | 5.43 | | | | 4.92 | | | | — | | | | — | |
| | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
Net
Asset
Value,
End of
Period | | | Total
Return | | | Gross
Expenses(b) | | | Net
Expenses(b) | | | Net
Investment
Income
(Loss)(b) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(c) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 20.82 | | | | (2.85 | )%(d) | | | 5.03 | % | | | 1.78 | % | | | 0.77 | % | | $ | 1,188 | | | | 88 | % |
| $ | 21.80 | | | | 5.18 | % | | | 2.16 | % | | | 1.80 | % | | | 0.36 | % | | $ | 1,468 | | | | 1,449 | % |
| $ | 21.33 | | | | (8.45 | )% | | | 2.64 | % | | | 1.95 | % | | | 1.74 | % | | $ | 1,900 | | | | 412 | % |
| $ | 24.17 | | | | (12.20 | )% | | | 1.78 | % | | | 1.65 | % | | | 0.78 | % | | $ | 3,146 | | | | 194 | % |
| $ | 27.53 | | | | 35.64 | % | | | 1.66 | % | | | 1.66 | % | | | 2.42 | % | | $ | 111,297 | | | | 330 | % |
| $ | 20.74 | | | | (4.92 | )% | | | 1.80 | % | | | 1.74 | % | | | 2.02 | % | | $ | 2,052 | | | �� | 508 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 20.19 | | | | (3.33 | )%(d) | | | 6.03 | % | | | 2.78 | % | | | (0.23 | )% | | $ | 56 | | | | 88 | % |
| $ | 20.99 | | | | 4.17 | % | | | 3.16 | % | | | 2.80 | % | | | (0.64 | )% | | $ | 75 | | | | 1,449 | % |
| $ | 20.24 | | | | (9.41 | )% | | | 3.64 | % | | | 2.95 | % | | | 0.74 | % | | $ | 91 | | | | 412 | % |
| $ | 22.78 | | | | (13.09 | )% | | | 2.78 | % | | | 2.65 | % | | | (0.22 | )% | | $ | 109 | | | | 194 | % |
| $ | 26.20 | | | | 34.22 | % | | | 2.66 | % | | | 2.66 | % | | | 1.42 | % | | $ | 4,981 | | | | 330 | % |
| $ | 19.78 | | | | (5.85 | )% | | | 2.80 | % | | | 2.74 | % | | | 1.02 | % | | $ | 956 | | | | 508 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 68.79 | | | | 14.78 | %(d) | | | 1.38 | % | | | 1.38 | % | | | 0.54 | % | | $ | 36,721 | | | | 201 | % |
| $ | 60.08 | | | | 16.53 | % | | | 1.34 | % | | | 1.34 | % | | | 1.14 | % | | $ | 23,791 | | | | 503 | % |
| $ | 52.14 | | | | (2.95 | )% | | | 1.35 | % | | | 1.35 | % | | | 0.38 | % | | $ | 14,497 | | | | 714 | % |
| $ | 53.83 | | | | (15.84 | )% | | | 1.28 | % | | | 1.28 | % | | | (0.60 | )% | | $ | 21,114 | | | | 397 | % |
| $ | 63.97 | | | | 22.22 | % | | | 1.27 | % | | | 1.27 | % | | | (0.66 | )% | | $ | 23,775 | | | | 409 | % |
| $ | 52.34 | | | | 11.96 | % | | | 1.36 | % | | | 1.36 | % | | | — | %(g) | | $ | 54,379 | | | | 2,626 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 63.24 | | | | 14.24 | %(d) | | | 2.38 | % | | | 2.38 | % | | | (0.46 | )% | | $ | 1,645 | | | | 201 | % |
| $ | 55.37 | | | | 15.31 | % | | | 2.34 | % | | | 2.34 | % | | | 0.14 | % | | $ | 2,605 | | | | 503 | % |
| $ | 48.09 | | | | (3.94 | )% | | | 2.35 | % | | | 2.35 | % | | | (0.62 | )% | | $ | 4,374 | | | | 714 | % |
| $ | 50.07 | | | | (16.70 | )% | | | 2.28 | % | | | 2.28 | % | | | (1.60 | )% | | $ | 794 | | | | 397 | % |
| $ | 60.10 | | | | 21.02 | % | | | 2.27 | % | | | 2.27 | % | | | (1.66 | )% | | $ | 16,224 | | | | 409 | % |
| $ | 49.67 | | | | 10.99 | % | | | 2.36 | % | | | 2.36 | % | | | (1.00 | )% | | $ | 1,364 | | | | 2,626 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Annualized for periods less than one year. |
| (c) | Portfolio turnover rate is calculated without regard to instruments having a maturity of less than one year from acquisition or derivative instruments (including swap agreements and futures contracts). The portfolio turnover rate can be high and volatile due to the amount and timing of sales and purchases of fund shares during the period. Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between classes of shares issued. |
| (d) | Not annualized for periods less than one year. |
| (e) | The amount shown for a share outstanding throughout the period does not accord with the change in aggregate gains and losses in the portfolio of securities during the period because of the timing of sales and purchases of fund shares in relation to fluctuating market values during the period. |
| (f) | Amount is less than $0.005. |
| (g) | Amount is less than 0.005%. |
See accompanying notes to the financial statements.
252 :: Financial Highlights
ProFunds Financial HighlightsFOR THE PERIODS INDICATED
Selected data for a share of beneficial interest outstanding throughout the periods indicated.
| | | | | | Investment Activities | | | Distributions to Shareholders From | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income
(Loss)(a) | | | Net
Realized
and
Unrealized
Gains
(Losses) on
Investments | | | Total from
Investment
Activities | | | Net
Investment
Income | | | Net
Realized
Gains on
Investments | | | Total
Distributions | |
| UltraBear ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 19.19 | | | | — | (d) | | | (3.23 | ) | | | (3.23 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 22.81 | | | | 0.10 | | | | (3.72 | ) | | | (3.62 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 31.42 | | | | (0.14 | ) | | | (8.47 | ) | | | (8.61 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2017(f) | | $ | 42.97 | | | | (0.44 | ) | | | (11.11 | ) | | | (11.55 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016(f) | | $ | 52.65 | | | | (0.80 | ) | | | (8.88 | ) | | | (9.68 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015(f) | | $ | 68.74 | | | | (1.00 | ) | | | (15.09 | ) | | | (16.09 | ) | | | — | | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 17.46 | | | | (0.09 | ) | | | (2.92 | ) | | | (3.01 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 20.97 | | | | (0.11 | ) | | | (3.40 | ) | | | (3.51 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 29.17 | | | | (0.37 | ) | | | (7.83 | ) | | | (8.20 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2017(f) | | $ | 40.29 | | | | (0.80 | ) | | | (10.32 | ) | | | (11.12 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016(f) | | $ | 49.77 | | | | (1.20 | ) | | | (8.28 | ) | | | (9.48 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015(f) | | $ | 65.66 | | | | (1.50 | ) | | | (14.39 | ) | | | (15.89 | ) | | | — | | | | — | | | | — | |
| UltraBull ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 67.93 | | | | 0.10 | | | | 10.67 | | | | 10.77 | | | | (0.33 | ) | | | — | | | | (0.33 | ) |
| Year Ended July 31, 2019 | | $ | 62.85 | | | | 0.33 | | | | 5.03 | (g) | | | 5.36 | | | | (0.06 | ) | | | (0.22 | ) | | | (0.28 | ) |
| Year Ended July 31, 2018(h) | | $ | 49.15 | | | | 0.18 | | | | 13.52 | | | | 13.70 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2017(h) | | $ | 37.86 | | | | 0.03 | | | | 11.26 | | | | 11.29 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016(h) | | $ | 35.83 | | | | — | (d) | | | 2.04 | | | | 2.03 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015(h) | | $ | 30.12 | | | | (0.08 | ) | | | 5.79 | | | | 5.71 | | | | — | | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 56.36 | | | | (0.20 | ) | | | 8.80 | | | | 8.60 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 52.65 | | | | (0.17 | ) | | | 4.10 | (g) | | | 3.93 | | | | — | | | | (0.22 | ) | | | (0.22 | ) |
| Year Ended July 31, 2018(h) | | $ | 41.58 | | | | (0.30 | ) | | | 11.37 | | | | 11.07 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2017(h) | | $ | 32.35 | | | | (0.33 | ) | | | 9.56 | | | | 9.23 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016(h) | | $ | 30.92 | | | | (0.28 | ) | | | 1.71 | | | | 1.43 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015(h) | | $ | 26.25 | | | | (0.37 | ) | | | 5.04 | | | | 4.67 | | | | — | | | | — | | | | — | |
| | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
Net
Asset
Value,
End of
Period | | | Total
Return | | | Gross
Expenses(b) | | | Net
Expenses(b) | | | Net
Investment
Income
(Loss)(b) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(c) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 15.96 | | | | (16.83 | )%(e) | | | 2.01 | % | | | 1.78 | % | | | (0.04 | )% | | $ | 9,728 | | | | — | |
| $ | 19.19 | | | | (15.87 | )% | | | 1.95 | % | | | 1.84 | % | | | 0.44 | % | | $ | 8,869 | | | | — | |
| $ | 22.81 | | | | (27.40 | )% | | | 1.89 | % | | | 1.87 | % | | | (0.54 | )% | | $ | 8,335 | | | | — | |
| $ | 31.42 | | | | (26.93 | )% | | | 1.66 | % | | | 1.66 | % | | | (1.18 | )% | | $ | 11,709 | | | | — | |
| $ | 42.97 | | | | (18.41 | )% | | | 1.64 | % | | | 1.64 | % | | | (1.46 | )% | | $ | 17,997 | | | | — | |
| $ | 52.65 | | | | (23.29 | )% | | | 1.69 | % | | | 1.69 | % | | | (1.66 | )% | | $ | 12,302 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 14.45 | | | | (17.24 | )%(e) | | | 3.01 | % | | | 2.78 | % | | | (1.04 | )% | | $ | 136 | | | | — | |
| $ | 17.46 | | | | (16.74 | )% | | | 2.95 | % | | | 2.84 | % | | | (0.56 | )% | | $ | 265 | | | | — | |
| $ | 20.97 | | | | (28.11 | )% | | | 2.89 | % | | | 2.87 | % | | | (1.54 | )% | | $ | 3,607 | | | | — | |
| $ | 29.17 | | | | (27.62 | )% | | | 2.66 | % | | | 2.66 | % | | | (2.18 | )% | | $ | 204 | | | | — | |
| $ | 40.29 | | | | (19.08 | )% | | | 2.64 | % | | | 2.64 | % | | | (2.46 | )% | | $ | 834 | | | | — | |
| $ | 49.77 | | | | (24.20 | )% | | | 2.69 | % | | | 2.69 | % | | | (2.66 | )% | | $ | 363 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 78.37 | | | | 15.85 | %(e) | | | 1.59 | % | | | 1.59 | % | | | 0.29 | % | | $ | 154,092 | | | | 65 | %(e) |
| $ | 67.93 | | | | 8.54 | % | | | 1.50 | % | | | 1.50 | % | | | 0.54 | % | | $ | 174,947 | | | | 159 | % |
| $ | 62.85 | | | | 27.89 | % | | | 1.40 | % | | | 1.40 | % | | | 0.31 | % | | $ | 185,706 | | | | 174 | % |
| $ | 49.15 | | | | 29.79 | % | | | 1.42 | % | | | 1.42 | % | | | 0.08 | % | | $ | 132,494 | | | | 9 | % |
| $ | 37.86 | | | | 5.69 | % | | | 1.46 | % | | | 1.46 | % | | | (0.01 | )% | | $ | 89,043 | | | | 165 | % |
| $ | 35.83 | | | | 18.95 | % | | | 1.52 | % | | | 1.52 | % | | | (0.23 | )% | | $ | 84,932 | | | | 258 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 64.96 | | | | 15.26 | %(e) | | | 2.59 | % | | | 2.59 | % | | | (0.71 | )% | | $ | 1,629 | | | | 65 | %(e) |
| $ | 56.36 | | | | 7.46 | % | | | 2.50 | % | | | 2.50 | % | | | (0.46 | )% | | $ | 1,389 | | | | 159 | % |
| $ | 52.65 | | | | 26.62 | % | | | 2.40 | % | | | 2.40 | % | | | (0.69 | )% | | $ | 1,838 | | | | 174 | % |
| $ | 41.58 | | | | 28.49 | % | | | 2.42 | % | | | 2.42 | % | | | (0.92 | )% | | $ | 3,259 | | | | 9 | % |
| $ | 32.35 | | | | 4.65 | % | | | 2.46 | % | | | 2.46 | % | | | (1.01 | )% | | $ | 1,481 | | | | 165 | % |
| $ | 30.92 | | | | 17.79 | % | | | 2.52 | % | | | 2.52 | % | | | (1.23 | )% | | $ | 10,015 | | | | 258 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Annualized for periods less than one year. |
| (c) | Portfolio turnover rate is calculated without regard to instruments having a maturity of less than one year from acquisition or derivative instruments (including swap agreements and futures contracts). The portfolio turnover rate can be high and volatile due to the amount and timing of sales and purchases of fund shares during the period. Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between classes of shares issued. |
| (d) | Amount is less than $0.005. |
| (e) | Not annualized for periods less than one year. |
| (f) | As described in Note 9, share amounts adjusted for 1:10 reverse share split that occurred on December 5, 2016. |
| (g) | The amount shown for a share outstanding throughout the period does not accord with the change in aggregate gains and losses in the portfolio of securities during the period because of the timing of sales and purchases of fund shares in relation to fluctuating market values during the period. |
| (h) | As described in Note 9, share amounts have been adjusted for 3:1 share split on January 22, 2018. |
See accompanying notes to the financial statements.
Financial Highlights :: 253
ProFunds Financial HighlightsFOR THE PERIODS INDICATED
Selected data for a share of beneficial interest outstanding throughout the periods indicated.
| | | | | | Investment Activities | | | Distributions to Shareholders From | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income
(Loss)(a) | | | Net
Realized
and
Unrealized
Gains
(Losses) on
Investments | | | Total from
Investment
Activities | | | Net
Investment
Income | | | Net
Realized
Gains on
Investments | | | Total
Distributions | |
| UltraChina ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 11.42 | | | | (0.03 | ) | | | 1.49 | | | | 1.46 | | | | (0.01 | ) | | | — | | | | (0.01 | ) |
| Year Ended July 31, 2019 | | $ | 17.79 | | | | (0.01 | ) | | | (6.36 | ) | | | (6.37 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 16.41 | | | | (0.01 | ) | | | 1.53 | | | | 1.52 | | | | (0.14 | ) | | | — | | | | (0.14 | ) |
| Year Ended July 31, 2017 | | $ | 9.22 | | | | (0.08 | ) | | | 7.27 | | | | 7.19 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 11.74 | | | | (0.08 | ) | | | (2.44 | ) | | | (2.52 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 13.55 | | | | (0.07 | ) | | | (1.74 | ) | | | (1.81 | ) | | | — | | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 10.23 | | | | (0.08 | ) | | | 1.33 | | | | 1.25 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 16.11 | | | | (0.12 | ) | | | (5.76 | ) | | | (5.88 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 14.97 | | | | (0.19 | ) | | | 1.41 | | | | 1.22 | | | | (0.08 | ) | | | — | | | | (0.08 | ) |
| Year Ended July 31, 2017 | | $ | 8.49 | | | | (0.19 | ) | | | 6.67 | | | | 6.48 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 10.91 | | | | (0.17 | ) | | | (2.25 | ) | | | (2.42 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 12.72 | | | | (0.20 | ) | | | (1.61 | ) | | | (1.81 | ) | | | — | | | | — | | | | — | |
| UltraDow 30 ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited)(e) | | $ | 47.25 | | | | 0.12 | | | | 4.58 | | | | 4.70 | | | | (0.30 | ) | | | (0.72 | ) | | | (1.02 | ) |
| Year Ended July 31, 2019(e) | | $ | 43.77 | | | | 0.30 | | | | 3.52 | | | | 3.82 | | | | (0.34 | ) | | | — | | | | (0.34 | ) |
| Year Ended July 31, 2018(e) | | $ | 33.52 | | | | 0.12 | | | | 10.90 | | | | 11.02 | | | | (0.01 | ) | | | (0.76 | ) | | | (0.77 | ) |
| Year Ended July 31, 2017(e) | | $ | 23.50 | | | | 0.03 | | | | 9.99 | | | | 10.02 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016(e) | | $ | 21.66 | | | | — | (g) | | | 1.84 | | | | 1.84 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015(e) | | $ | 18.89 | | | | (0.08 | ) | | | 2.85 | | | | 2.77 | | | | — | | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited)(e) | | $ | 41.33 | | | | (0.09 | ) | | | 3.98 | | | | 3.89 | | | | — | | | | (0.72 | ) | | | (0.72 | ) |
| Year Ended July 31, 2019(e) | | $ | 38.31 | | | | (0.09 | ) | | | 3.11 | | | | 3.02 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2018(e) | | $ | 29.70 | | | | (0.24 | ) | | | 9.61 | | | | 9.37 | | | | — | | | | (0.76 | ) | | | (0.76 | ) |
| Year Ended July 31, 2017(e) | | $ | 21.02 | | | | (0.23 | ) | | | 8.91 | | | | 8.68 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016(e) | | $ | 19.57 | | | | (0.18 | ) | | | 1.63 | | | | 1.45 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015(e) | | $ | 17.24 | | | | (0.27 | ) | | | 2.60 | | | | 2.33 | | | | — | | | | — | | | | — | |
| | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
Net
Asset
Value,
End of
Period | | | Total
Return | | | Gross
Expenses(b) | | | Net
Expenses(b) | | | Net
Investment
Income
(Loss)(b) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(c) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 12.87 | | | | 12.78 | %(d) | | | 1.79 | % | | | 1.79 | % | | | (0.44 | )% | | $ | 17,783 | | | | 137 | %(d) |
| $ | 11.42 | | | | (35.81 | )% | | | 1.70 | % | | | 1.70 | % | | | (0.05 | )% | | $ | 21,723 | | | | 360 | % |
| $ | 17.79 | | | | 9.24 | % | | | 1.51 | % | | | 1.51 | % | | | (0.07 | )% | | $ | 27,453 | | | | 312 | % |
| $ | 16.41 | | | | 77.98 | % | | | 1.80 | % | | | 1.80 | % | | | (0.68 | )% | | $ | 33,637 | | | | 513 | % |
| $ | 9.22 | | | | (21.47 | )% | | | 1.85 | % | | | 1.85 | % | | | (0.90 | )% | | $ | 7,375 | | | | 323 | % |
| $ | 11.74 | | | | (13.36 | )% | | | 1.75 | % | | | 1.75 | % | | | (0.48 | )% | | $ | 20,193 | | | | 450 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 11.48 | | | | 12.22 | %(d) | | | 2.79 | % | | | 2.79 | % | | | (1.44 | )% | | $ | 469 | | | | 137 | %(d) |
| $ | 10.23 | | | | (36.50 | )% | | | 2.70 | % | | | 2.70 | % | | | (1.05 | )% | | $ | 405 | | | | 360 | % |
| $ | 16.11 | | | | 8.10 | % | | | 2.51 | % | | | 2.51 | % | | | (1.07 | )% | | $ | 1,006 | | | | 312 | % |
| $ | 14.97 | | | | 76.33 | % | | | 2.80 | % | | | 2.80 | % | | | (1.68 | )% | | $ | 2,434 | | | | 513 | % |
| $ | 8.49 | | | | (22.18 | )% | | | 2.85 | % | | | 2.85 | % | | | (1.90 | )% | | $ | 868 | | | | 323 | % |
| $ | 10.91 | | | | (14.23 | )% | | | 2.75 | % | | | 2.75 | % | | | (1.48 | )% | | $ | 321 | | | | 450 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 50.93 | | | | 9.90 | %(d) | | | 1.71 | % | | | 1.71 | % | | | 0.51 | % | | $ | 33,070 | | | | — | |
| $ | 47.25 | | | | 8.97 | % | | | 1.62 | % | | | 1.62 | % | | | 0.68 | % | | $ | 38,924 | | | | 1 | % |
| $ | 43.77 | | | | 32.94 | % | | | 1.51 | % | | | 1.51 | % | | | 0.29 | % | | $ | 37,484 | | | | 59 | % |
| $ | 33.52 | | | | 42.63 | % | | | 1.71 | % | | | 1.71 | % | | | 0.10 | % | | $ | 29,931 | | | | — | (f) |
| $ | 23.50 | | | | 8.51 | % | | | 1.78 | % | | | 1.76 | % | | | 0.01 | % | | $ | 18,787 | | | | 20 | % |
| $ | 21.66 | | | | 14.66 | % | | | 1.78 | % | | | 1.75 | % | | | (0.36 | )% | | $ | 17,391 | | | | 59 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 44.50 | | | | 9.36 | %(d) | | | 2.71 | % | | | 2.71 | % | | | (0.49 | )% | | $ | 808 | | | | — | |
| $ | 41.33 | | | | 7.87 | % | | | 2.62 | % | | | 2.62 | % | | | (0.32 | )% | | $ | 732 | | | | 1 | % |
| $ | 38.31 | | | | 31.62 | % | | | 2.51 | % | | | 2.51 | % | | | (0.71 | )% | | $ | 1,584 | | | | 59 | % |
| $ | 29.70 | | | | 41.27 | % | | | 2.71 | % | | | 2.71 | % | | | (0.90 | )% | | $ | 1,291 | | | | — | (f) |
| $ | 21.02 | | | | 7.43 | % | | | 2.78 | % | | | 2.76 | % | | | (0.99 | )% | | $ | 680 | | | | 20 | % |
| $ | 19.57 | | | | 13.52 | % | | | 2.78 | % | | | 2.75 | % | | | (1.36 | )% | | $ | 1,415 | | | | 59 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Annualized for periods less than one year. |
| (c) | Portfolio turnover rate is calculated without regard to instruments having a maturity of less than one year from acquisition or derivative instruments (including swap agreements and futures contracts). The portfolio turnover rate can be high and volatile due to the amount and timing of sales and purchases of fund shares during the period. Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between classes of shares issued. |
| (d) | Not annualized for periods less than one year. |
| (e) | As described in Note 9, share amounts have been adjusted for 3:1 share split that occurred on November 18, 2019. |
| (f) | Amount is less than 0.5%. |
| (g) | Amount is less than $0.005. |
See accompanying notes to the financial statements.
254 :: Financial Highlights
ProFunds Financial HighlightsFOR THE PERIODS INDICATED
Selected data for a share of beneficial interest outstanding throughout the periods indicated.
| | | | | | Investment Activities | | | Distributions to
Shareholders From | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income
(Loss)(a) | | | Net
Realized
and
Unrealized
Gains
(Losses) on
Investments | | | Total from
Investment
Activities | | | Net
Investment
Income | | | Total
Distributions | |
| UltraEmerging Markets ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 51.58 | | | | 0.06 | | | | 5.83 | | | | 5.89 | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 63.07 | | | | 0.05 | | | | (11.25 | ) | | | (11.20 | ) | | | (0.29 | ) | | | (0.29 | ) |
| Year Ended July 31, 2018 | | $ | 61.63 | | | | 0.25 | | | | 1.30 | | | | 1.55 | | | | (0.11 | ) | | | (0.11 | ) |
| Year Ended July 31, 2017(f) | | $ | 39.22 | | | | (0.02 | ) | | | 22.43 | | | | 22.41 | | | | — | | | | — | |
| Year Ended July 31, 2016(f) | | $ | 40.11 | | | | — | (g) | | | (0.89 | ) | | | (0.89 | ) | | | — | | | | — | |
| Year Ended July 31, 2015(f) | | $ | 63.52 | | | | (0.10 | ) | | | (23.11 | ) | | | (23.21 | ) | | | (0.20 | ) | | | (0.20 | ) |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 47.65 | | | | (0.20 | ) | | | 5.38 | | | | 5.18 | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 58.50 | | | | (0.44 | ) | | | (10.41 | ) | | | (10.85 | ) | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 57.67 | | | | (0.38 | ) | | | 1.21 | | | | 0.83 | | | | — | | | | — | |
| Year Ended July 31, 2017(f) | | $ | 37.07 | | | | (0.46 | ) | | | 21.06 | | | | 20.60 | | | | — | | | | — | |
| Year Ended July 31, 2016(f) | | $ | 38.32 | | | | (0.30 | ) | | | (0.95 | ) | | | (1.25 | ) | | | — | | | | — | |
| Year Ended July 31, 2015(f) | | $ | 61.03 | | | | (0.65 | ) | | | (22.06 | ) | | | (22.71 | ) | | | — | | | | — | |
| UltraInternational ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 15.58 | | | | (0.02 | ) | | | 1.32 | | | | 1.30 | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 17.99 | | | | 0.03 | | | | (2.44 | ) | | | (2.41 | ) | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 17.10 | | | | (0.07 | ) | | | 0.96 | | | | 0.89 | | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 12.89 | | | | (0.17 | ) | | | 4.38 | | | | 4.21 | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 16.53 | | | | (0.21 | ) | | | (3.43 | ) | | | (3.64 | ) | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 17.51 | | | | (0.26 | ) | | | (0.72 | ) | | | (0.98 | ) | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 13.92 | | | | (0.10 | ) | | | 1.19 | | | | 1.09 | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 16.23 | | | | (0.11 | ) | | | (2.20 | ) | | | (2.31 | ) | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 15.59 | | | | (0.24 | ) | | | 0.88 | | | | 0.64 | | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 11.86 | | | | (0.31 | ) | | | 4.04 | | | | 3.73 | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 15.37 | | | | (0.34 | ) | | | (3.17 | ) | | | (3.51 | ) | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 16.45 | | | | (0.42 | ) | | | (0.66 | ) | | | (1.08 | ) | | | — | | | | — | |
| | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
Net
Asset
Value,
End of
Period | | | Total
Return | | | Gross
Expenses(b) | | | Net
Expenses(b) | | | Net
Investment
Income
(Loss)(b) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(c) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 57.47 | | | | 11.42 | %(d)(e) | | | 1.91 | % | | | 1.90 | % | | | 0.23 | % | | $ | 13,564 | | | | 127 | %(d) |
| $ | 51.58 | | | | (17.70 | )% | | | 1.84 | % | | | 1.84 | % | | | 0.10 | % | | $ | 12,846 | | | | 137 | % |
| $ | 63.07 | | | | 2.50 | % | | | 1.52 | % | | | 1.52 | % | | | 0.37 | % | | $ | 22,713 | | | | 125 | % |
| $ | 61.63 | | | | 57.02 | % | | | 1.62 | % | | | 1.62 | % | | | (0.04 | )% | | $ | 68,758 | | | | 225 | % |
| $ | 39.22 | | | | (2.12 | )% | | | 1.80 | % | | | 1.79 | % | | | 0.04 | % | | $ | 14,838 | | | | 402 | % |
| $ | 40.11 | | | | (36.61 | )% | | | 1.88 | % | | | 1.88 | % | | | (0.19 | )% | | $ | 9,668 | | | | 225 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 52.83 | | | | 10.87 | %(d)(e) | | | 2.91 | % | | | 2.90 | % | | | (0.77 | )% | | $ | 359 | | | | 127 | %(d) |
| $ | 47.65 | | | | (18.55 | )% | | | 2.84 | % | | | 2.84 | % | | | (0.90 | )% | | $ | 213 | | | | 137 | % |
| $ | 58.50 | | | | 1.44 | % | | | 2.52 | % | | | 2.52 | % | | | (0.63 | )% | | $ | 623 | | | | 125 | % |
| $ | 57.67 | | | | 55.65 | % | | | 2.62 | % | | | 2.62 | % | | | (1.04 | )% | | $ | 1,238 | | | | 225 | % |
| $ | 37.07 | | | | (3.26 | )% | | | 2.80 | % | | | 2.79 | % | | | (0.96 | )% | | $ | 513 | | | | 402 | % |
| $ | 38.32 | | | | (37.26 | )% | | | 2.88 | % | | | 2.88 | % | | | (1.19 | )% | | $ | 361 | | | | 225 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 16.88 | | | | 8.34 | %(d) | | | 2.10 | % | | | 1.90 | % | | | (0.29 | )% | | $ | 2,464 | | | | — | |
| $ | 15.58 | | | | (13.40 | )% | | | 2.30 | % | | | 2.04 | %(h) | | | 0.16 | % | | $ | 2,989 | | | | — | |
| $ | 17.99 | | | | 5.20 | % | | | 1.62 | % | | | 1.62 | % | | | (0.40 | )% | | $ | 9,114 | | | | — | |
| $ | 17.10 | | | | 32.66 | % | | | 1.78 | % | | | 1.78 | % | | | (1.15 | )% | | $ | 20,851 | | | | — | |
| $ | 12.89 | | | | (22.02 | )% | | | 1.81 | % | | | 1.81 | % | | | (1.64 | )% | | $ | 7,257 | | | | — | |
| $ | 16.53 | | | | (5.54 | )% | | | 1.60 | % | | | 1.60 | % | | | (1.57 | )% | | $ | 8,912 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 15.01 | | | | 7.90 | %(d) | | | 3.10 | % | | | 2.90 | % | | | (1.29 | )% | | $ | 78 | | | | — | |
| $ | 13.92 | | | | (14.23 | )% | | | 3.29 | % | | | 3.03 | %(h) | | | (0.83 | )% | | $ | 47 | | | | — | |
| $ | 16.23 | | | | 4.11 | % | | | 2.62 | % | | | 2.62 | % | | | (1.40 | )% | | $ | 184 | | | | — | |
| $ | 15.59 | | | | 31.45 | % | | | 2.78 | % | | | 2.78 | % | | | (2.15 | )% | | $ | 1,362 | | | | — | |
| $ | 11.86 | | | | (22.84 | )% | | | 2.81 | % | | | 2.81 | % | | | (2.64 | )% | | $ | 108 | | | | — | |
| $ | 15.37 | | | | (6.51 | )% | | | 2.60 | % | | | 2.60 | % | | | (2.57 | )% | | $ | 249 | | | | — | |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Annualized for periods less than one year. |
| (c) | Portfolio turnover rate is calculated without regard to instruments having a maturity of less than one year from acquisition or derivative instruments (including swap agreements and futures contracts). The portfolio turnover rate can be high and volatile due to the amount and timing of sales and purchases of fund shares during the period. Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between classes of shares issued. |
| (d) | Not annualized for periods less than one year. |
| (e) | During the period ended January 31, 2020, the Fund received monies related to certain nonrecurring litigation settlements. The corresponding impact to the total return was 0.78%. |
| (f) | As described in Note 9, share amounts adjusted for 1:5 reverse share split that occurred on December 5, 2016. |
| (g) | Amount is less than $0.005. |
| (h) | The expense ratio does not correlate to the applicable expense limits in place during the period given that the annual contractual expense limitation is applied for the one year periods ended November 30th of each year, instead of coinciding with the July 31st year end. Details of the current expense limitation in effect can be found in Note 4 of the accompanying Notes to Financial Statements. |
See accompanying notes to the financial statements.
Financial Highlights :: 255
ProFunds Financial HighlightsFOR THE PERIODS INDICATED
Selected data for a share of beneficial interest outstanding throughout the periods indicated.
| | | | | | Investment Activities | | | Distributions to Shareholders From | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income
(Loss)(a) | | | Net
Realized
and
Unrealized
Gains
(Losses) on
Investments | | | Total from
Investment
Activities | | | Net
Investment
Income | | | Net
Realized
Gains on
Investments | | | Total
Distributions | |
| UltraJapan ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 21.87 | | | | (0.05 | ) | | | 2.79 | | | | 2.74 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 24.93 | | | | 0.04 | | | | (2.61 | ) | | | (2.57 | ) | | | — | | | | (0.49 | ) | | | (0.49 | ) |
| Year Ended July 31, 2018 | | $ | 19.76 | | | | (0.11 | ) | | | 5.28 | | | | 5.17 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 13.62 | | | | (0.22 | ) | | | 6.36 | | | | 6.14 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 24.02 | | | | (0.27 | ) | | | (10.13 | ) | | | (10.40 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 14.66 | | | | (0.34 | ) | | | 9.70 | | | | 9.36 | | | | — | | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 18.64 | | | | (0.15 | ) | | | 2.38 | | | | 2.23 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 21.52 | | | | (0.16 | ) | | | (2.23 | ) | | | (2.39 | ) | | | — | | | | (0.49 | ) | | | (0.49 | ) |
| Year Ended July 31, 2018 | | $ | 17.23 | | | | (0.31 | ) | | | 4.60 | | | | 4.29 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 11.99 | | | | (0.37 | ) | | | 5.61 | | | | 5.24 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 21.32 | | | | (0.39 | ) | | | (8.94 | ) | | | (9.33 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 13.14 | | | | (0.52 | ) | | | 8.70 | | | | 8.18 | | | | — | | | | — | | | | — | |
| UltraLatin America ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 31.86 | | | | 0.29 | | | | (4.41 | ) | | | (4.12 | ) | | | (0.43 | ) | | | — | | | | (0.43 | ) |
| Year Ended July 31, 2019 | | $ | 33.55 | | | | 0.44 | | | | (1.66 | ) | | | (1.22 | ) | | | (0.47 | ) | | | — | | | | (0.47 | ) |
| Year Ended July 31, 2018 | | $ | 35.83 | | | | 0.28 | | | | (2.47 | ) | | | (2.19 | ) | | | (0.09 | ) | | | — | | | | (0.09 | ) |
| Year Ended July 31, 2017 | | $ | 26.71 | | | | 0.10 | | | | 9.10 | | | | 9.20 | | | | (0.08 | ) | | | — | | | | (0.08 | ) |
| Year Ended July 31, 2016 | | $ | 28.80 | | | | 0.12 | | | | (2.14 | ) | | | (2.02 | ) | | | (0.07 | ) | | | — | | | | (0.07 | ) |
| Year Ended July 31, 2015 | | $ | 71.50 | | | | — | (f) | | | (42.20 | ) | | | (42.20 | ) | | | (0.50 | ) | | | — | | | | (0.50 | ) |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 30.71 | | | | 0.15 | | | | (4.32 | ) | | | (4.17 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 32.16 | | | | 0.13 | | | | (1.58 | ) | | | (1.45 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 34.61 | | | | (0.10 | ) | | | (2.35 | ) | | | (2.45 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 25.98 | | | | (0.21 | ) | | | 8.84 | | | | 8.63 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 28.17 | | | | (0.09 | ) | | | (2.10 | ) | | | (2.19 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 69.70 | | | | (0.40 | ) | | | (41.13 | ) | | | (41.53 | ) | | | — | | | | — | | | | — | |
| | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
Net
Asset
Value,
End of
Period | | | Total
Return | | | Gross
Expenses(b) | | | Net
Expenses(b) | | | Net
Investment
Income
(Loss)(b) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(c) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 24.61 | | | | 12.53 | %(d) | | | 1.91 | % | | | 1.91 | % | | | (0.37 | )% | | $ | 13,057 | | | | — | |
| $ | 21.87 | | | | (10.75 | )% | | | 1.83 | % | | | 1.83 | % | | | 0.16 | % | | $ | 13,423 | | | | — | |
| $ | 24.93 | | | | 26.16 | % | | | 1.66 | % | | | 1.66 | % | | | (0.45 | )% | | $ | 20,993 | | | | — | |
| $ | 19.76 | | | | 44.97 | % | | | 1.70 | % | | | 1.70 | % | | | (1.26 | )% | | $ | 19,565 | | | | — | |
| $ | 13.62 | | | | (43.26 | )% | | | 1.69 | % | | | 1.69 | % | | | (1.56 | )% | | $ | 22,116 | | | | — | |
| $ | 24.02 | | | | 63.85 | % | | | 1.75 | % | | | 1.75 | % | | | (1.73 | )% | | $ | 56,344 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 20.87 | | | | 11.96 | %(d) | | | 2.91 | % | | | 2.91 | % | | | (1.37 | )% | | $ | 200 | | | | — | |
| $ | 18.64 | | | | (11.63 | )% | | | 2.83 | % | | | 2.83 | % | | | (0.84 | )% | | $ | 258 | | | | — | |
| $ | 21.52 | | | | 24.90 | % | | | 2.66 | % | | | 2.66 | % | | | (1.45 | )% | | $ | 237 | | | | — | |
| $ | 17.23 | | | | 43.70 | % | | | 2.70 | % | | | 2.70 | % | | | (2.26 | )% | | $ | 243 | | | | — | |
| $ | 11.99 | | | | (43.76 | )% | | | 2.47 | % | | | 2.47 | % | | | (2.34 | )% | | $ | 1,066 | | | | — | |
| $ | 21.32 | | | | 62.25 | % | | | 2.75 | % | | | 2.75 | % | | | (2.73 | )% | | $ | 1,689 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 27.31 | | | | (13.18 | )%(d)(e) | | | 1.66 | % | | | 1.66 | % | | | 1.94 | % | | $ | 25,534 | | | | 76 | %(d) |
| $ | 31.86 | | | | (3.51 | )% | | | 1.69 | % | | | 1.69 | % | | | 1.34 | % | | $ | 31,560 | | | | 132 | % |
| $ | 33.55 | | | | (6.15 | )% | | | 1.53 | % | | | 1.53 | % | | | 0.72 | % | | $ | 37,611 | | | | 315 | % |
| $ | 35.83 | | | | 34.56 | % | | | 1.67 | % | | | 1.67 | % | | | 0.31 | % | | $ | 32,233 | | | | 228 | % |
| $ | 26.71 | | | | (6.86 | )% | | | 1.79 | % | | | 1.78 | % | | | 0.56 | % | | $ | 24,605 | | | | 587 | % |
| $ | 28.80 | | | | (59.24 | )% | | | 1.84 | % | | | 1.81 | % | | | 0.09 | % | | $ | 13,297 | | | | 724 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 26.54 | | | | (13.58 | )%(d)(e) | | | 2.64 | % | | | 2.64 | % | | | 0.96 | % | | $ | 71 | | | | 76 | %(d) |
| $ | 30.71 | | | | (4.51 | )% | | | 2.69 | % | | | 2.69 | % | | | 0.34 | % | | $ | 81 | | | | 132 | % |
| $ | 32.16 | | | | (7.08 | )% | | | 2.53 | % | | | 2.53 | % | | | (0.28 | )% | | $ | 436 | | | | 315 | % |
| $ | 34.61 | | | | 33.17 | % | | | 2.67 | % | | | 2.67 | % | | | (0.69 | )% | | $ | 419 | | | | 228 | % |
| $ | 25.98 | | | | (7.84 | )% | | | 2.79 | % | | | 2.78 | % | | | (0.44 | )% | | $ | 906 | | | | 587 | % |
| $ | 28.17 | | | | (59.54 | )% | | | 2.84 | % | | | 2.81 | % | | | (0.91 | )% | | $ | 84 | | | | 724 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Annualized for periods less than one year. |
| (c) | Portfolio turnover rate is calculated without regard to instruments having a maturity of less than one year from acquisition or derivative instruments (including swap agreements and futures contracts). The portfolio turnover rate can be high and volatile due to the amount and timing of sales and purchases of fund shares during the period. Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between classes of shares issued. |
| (d) | Not annualized for periods less than one year. |
| (e) | During the period ended January 31, 2020, the Fund received monies related to certain nonrecurring litigation settlements. The corresponding impact to the total return was 0.78%. |
| (f) | Amount is less than $0.005. |
See accompanying notes to the financial statements.
256 :: Financial Highlights
ProFunds Financial HighlightsFOR THE PERIODS INDICATED
Selected data for a share of beneficial interest outstanding throughout the periods indicated.
| | | | | | Investment Activities | | | Distributions to Shareholders From | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income
(Loss)(a) | | | Net
Realized
and
Unrealized
Gains
(Losses) on
Investments | | | Total from
Investment
Activities | | | Net
Investment
Income | | | Net
Realized
Gains on
Investments | | | Total
Distributions | |
| UltraMid-Cap ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 44.23 | | | | 0.04 | | | | 1.25 | | | | 1.29 | | | | (0.14 | ) | | | (0.84 | ) | | | (0.98 | ) |
| Year Ended July 31, 2019 | | $ | 46.93 | | | | 0.07 | | | | (2.72 | ) | | | (2.65 | ) | | | (0.01 | ) | | | (0.04 | ) | | | (0.05 | ) |
| Year Ended July 31, 2018(e) | | $ | 40.56 | | | | (0.01 | ) | | | 9.46 | (f) | | | 9.45 | | | | — | | | | (3.08 | )(f) | | | (3.08 | ) |
| Year Ended July 31, 2017(e) | | $ | 32.14 | | | | (0.11 | ) | | | 8.53 | | | | 8.42 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016(e) | | $ | 30.58 | | | | (0.11 | ) | | | 1.67 | | | | 1.56 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015(e) | | $ | 27.54 | | | | (0.20 | ) | | | 5.19 | | | | 4.99 | | | | — | | | | (1.95 | ) | | | (1.95 | ) |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 36.24 | | | | (0.14 | ) | | | 1.00 | | | | 0.86 | | | | — | | | | (0.84 | ) | | | (0.84 | ) |
| Year Ended July 31, 2019 | | $ | 38.86 | | | | (0.28 | ) | | | (2.30 | ) | | | (2.58 | ) | | | — | | | | (0.04 | ) | | | (0.04 | ) |
| Year Ended July 31, 2018(e) | | $ | 34.37 | | | | (0.37 | ) | | | 7.94 | (f) | | | 7.57 | | | | — | | | | (3.08 | )(f) | | | (3.08 | ) |
| Year Ended July 31, 2017(e) | | $ | 27.49 | | | | (0.42 | ) | | | 7.30 | | | | 6.88 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016(e) | | $ | 26.42 | | | | (0.35 | ) | | | 1.42 | | | | 1.07 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015(e) | | $ | 24.28 | | | | (0.46 | ) | | | 4.55 | | | | 4.09 | | | | — | | | | (1.95 | ) | | | (1.95 | ) |
| UltraNasdaq-100 ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 78.64 | | | | (0.13 | ) | | | 21.86 | | | | 21.73 | | | | — | | | | (5.21 | ) | | | (5.21 | ) |
| Year Ended July 31, 2019 | | $ | 75.09 | | | | 0.01 | | | | 7.10 | | | | 7.11 | | | | — | | | | (3.56 | ) | | | (3.56 | ) |
| Year Ended July 31, 2018(e) | | $ | 52.09 | | | | (0.18 | ) | | | 23.18 | | | | 23.00 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2017(e) | | $ | 34.41 | | | | (0.20 | ) | | | 17.88 | | | | 17.68 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016(e) | | $ | 33.73 | | | | (0.18 | ) | | | 0.86 | | | | 0.68 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015(e) | | $ | 24.81 | | | | (0.19 | ) | | | 9.11 | | | | 8.92 | | | | — | | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 63.78 | | | | (0.47 | ) | | | 17.63 | | | | 17.16 | | | | — | | | | (5.21 | ) | | | (5.21 | ) |
| Year Ended July 31, 2019 | | $ | 62.10 | | | | (0.56 | ) | | | 5.80 | | | | 5.24 | | | | — | | | | (3.56 | ) | | | (3.56 | ) |
| Year Ended July 31, 2018(e) | | $ | 43.52 | | | | (0.71 | ) | | | 19.29 | | | | 18.58 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2017(e) | | $ | 29.03 | | | | (0.54 | ) | | | 15.03 | | | | 14.49 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016(e) | | $ | 28.75 | | | | (0.44 | ) | | | 0.72 | | | | 0.28 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015(e) | | $ | 21.36 | | | | (0.44 | ) | | | 7.83 | | | | 7.39 | | | | — | | | | — | | | | — | |
| | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
Net
Asset
Value,
End of
Period | | | Total
Return | | | Gross
Expenses(b) | | | Net
Expenses(b) | | | Net
Investment
Income
(Loss)(b) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(c) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 44.54 | | | | 2.78 | %(d) | | | 1.64 | % | | | 1.64 | % | | | 0.19 | % | | $ | 65,276 | | | | 42 | %(d) |
| $ | 44.23 | | | | (5.62 | )% | | | 1.53 | % | | | 1.53 | % | | | 0.16 | % | | $ | 80,404 | | | | 52 | % |
| $ | 46.93 | | | | 23.80 | % | | | 1.43 | % | | | 1.43 | % | | | (0.01 | )% | | $ | 91,844 | | | | 28 | % |
| $ | 40.56 | | | | 26.18 | % | | | 1.46 | % | | | 1.46 | % | | | (0.30 | )% | | $ | 98,608 | | | | 35 | % |
| $ | 32.14 | | | | 5.11 | % | | | 1.50 | % | | | 1.50 | % | | | (0.42 | )% | | $ | 76,445 | | | | 89 | % |
| $ | 30.58 | | | | 19.26 | % | | | 1.56 | % | | | 1.56 | % | | | (0.67 | )% | | $ | 79,173 | | | | 29 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 36.26 | | | | 2.25 | %(d) | | | 2.64 | % | | | 2.64 | % | | | (0.81 | )% | | $ | 708 | | | | 42 | %(d) |
| $ | 36.24 | | | | (6.61 | )% | | | 2.53 | % | | | 2.53 | % | | | (0.84 | )% | | $ | 847 | | | | 52 | % |
| $ | 38.86 | | | | 22.58 | % | | | 2.43 | % | | | 2.43 | % | | | (1.01 | )% | | $ | 2,154 | | | | 28 | % |
| $ | 34.37 | | | | 24.99 | % | | | 2.46 | % | | | 2.46 | % | | | (1.30 | )% | | $ | 3,079 | | | | 35 | % |
| $ | 27.49 | | | | 4.09 | % | | | 2.50 | % | | | 2.50 | % | | | (1.42 | )% | | $ | 1,116 | | | | 89 | % |
| $ | 26.42 | | | | 18.07 | % | | | 2.56 | % | | | 2.56 | % | | | (1.67 | )% | | $ | 1,978 | | | | 29 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 95.16 | | | | 28.05 | %(d) | | | 1.56 | % | | | 1.56 | % | | | (0.30 | )% | | $ | 605,404 | | | | 6 | %(d) |
| $ | 78.64 | | | | 9.42 | % | | | 1.50 | % | | | 1.50 | % | | | 0.01 | % | | $ | 504,777 | | | | 9 | % |
| $ | 75.09 | | | | 44.15 | % | | | 1.41 | % | | | 1.41 | % | | | (0.29 | )% | | $ | 497,460 | | | | 3 | % |
| $ | 52.09 | | | | 51.39 | % | | | 1.43 | % | | | 1.43 | % | | | (0.48 | )% | | $ | 379,105 | | | | 4 | % |
| $ | 34.41 | | | | 2.00 | % | | | 1.47 | % | | | 1.47 | % | | | (0.58 | )% | | $ | 245,418 | | | | 6 | % |
| $ | 33.73 | | | | 35.97 | % | | | 1.52 | % | | | 1.52 | % | | | (0.65 | )% | | $ | 254,034 | | | | 9 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 75.73 | | | | 27.41 | %(d) | | | 2.56 | % | | | 2.56 | % | | | (1.30 | )% | | $ | 14,278 | | | | 6 | %(d) |
| $ | 63.78 | | | | 8.33 | % | | | 2.50 | % | | | 2.50 | % | | | (0.99 | )% | | $ | 12,014 | | | | 9 | % |
| $ | 62.10 | | | | 42.70 | % | | | 2.41 | % | | | 2.41 | % | | | (1.29 | )% | | $ | 14,914 | | | | 3 | % |
| $ | 43.52 | | | | 49.89 | % | | | 2.43 | % | | | 2.43 | % | | | (1.48 | )% | | $ | 11,189 | | | | 4 | % |
| $ | 29.03 | | | | 0.97 | % | | | 2.47 | % | | | 2.47 | % | | | (1.58 | )% | | $ | 8,600 | | | | 6 | % |
| $ | 28.75 | | | | 34.63 | % | | | 2.52 | % | | | 2.52 | % | | | (1.65 | )% | | $ | 9,164 | | | | 9 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Annualized for periods less than one year. |
| (c) | Portfolio turnover rate is calculated without regard to instruments having a maturity of less than one year from acquisition or derivative instruments (including swap agreements and futures contracts). The portfolio turnover rate can be high and volatile due to the amount and timing of sales and purchases of fund shares during the period. Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between classes of shares issued. |
| (d) | Not annualized for periods less than one year. |
| (e) | As described in Note 9, share amounts have been adjusted for 3:1 share split on January 22, 2018. |
| (f) | Subsequent to the issuance of the July 31, 2018 and 2019 financial statements, it was discovered that the distributions per share of $9.24 from Net Realized Gains on Investments from the year ended July 31, 2018 had not been adjusted for the 3:1 share split on January 22, 2018. The per-share amounts for both "Net Realized and Unrealized Gains (Losses) on Investments" as well as "Distributions to Shareholders from Net Realized Gains on Investments" have been revised to reflect the correct amounts. |
See accompanying notes to the financial statements.
Financial Highlights :: 257
ProFunds Financial Highlights FOR THE PERIODS INDICATED
Selected data for a share of beneficial interest outstanding throughout the periods indicated.
| | | | | Investment Activities | | | Distributions to
Shareholders From | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income
(Loss)(a) | | | Net
Realized
and
Unrealized
Gains
(Losses) on
Investments | | | Total from
Investment
Activities | | | Net
Investment
Income | | | Total
Distributions | |
| UltraShort China ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 47.15 | | | | — | (d) | | | (10.02 | ) | | | (10.02 | ) | | | (0.19 | ) | | | (0.19 | ) |
| Year Ended July 31, 2019 | | $ | 40.80 | | | | 0.24 | | | | 6.11 | (f) | | | 6.35 | | | | — | | | | — | |
| Year Ended July 31, 2018(g) | | $ | 54.15 | | | | (0.14 | ) | | | (13.21 | ) | | | (13.35 | ) | | | — | | | | — | |
| Year Ended July 31, 2017(g) | | $ | 112.44 | | | | (1.12 | ) | | | (57.17 | ) | | | (58.29 | ) | | | — | | | | — | |
| Year Ended July 31, 2016(g) | | $ | 126.26 | | | | (2.16 | ) | | | (11.66 | ) | | | (13.82 | ) | | | — | | | | — | |
| Year Ended July 31, 2015(g) | | $ | 142.13 | | | | (2.08 | ) | | | (13.79 | ) | | | (15.87 | ) | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 42.12 | | | | (0.19 | ) | | | (8.91 | ) | | | (9.10 | ) | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 36.81 | | | | (0.19 | ) | | | 5.50 | (f) | | | 5.31 | | | | — | | | | — | |
| Year Ended July 31, 2018(g) | | $ | 49.35 | | | | (0.52 | ) | | | (12.02 | ) | | | (12.54 | ) | | | — | | | | — | |
| Year Ended July 31, 2017(g) | | $ | 103.50 | | | | (1.76 | ) | | | (52.39 | ) | | | (54.15 | ) | | | — | | | | — | |
| Year Ended July 31, 2016(g) | | $ | 117.38 | | | | (3.36 | ) | | | (10.52 | ) | | | (13.88 | ) | | | — | | | | — | |
| Year Ended July 31, 2015(g) | | $ | 133.45 | | | | (3.12 | ) | | | (12.95 | ) | | | (16.07 | ) | | | — | | | | — | |
| UltraShort Dow 30 ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 15.04 | | | | — | (d) | | | (1.84 | ) | | | (1.84 | ) | | | (0.05 | ) | | | (0.05 | ) |
| Year Ended July 31, 2019 | | $ | 17.92 | | | | 0.08 | | | | (2.96 | ) | | | (2.88 | ) | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 26.03 | | | | (0.09 | ) | | | (8.02 | ) | | | (8.11 | ) | | | — | | | | — | |
| Year Ended July 31, 2017(h) | | $ | 39.20 | | | | (0.41 | ) | | | (12.76 | ) | | | (13.17 | ) | | | — | | | | — | |
| Year Ended July 31, 2016(h) | | $ | 49.17 | | | | (0.72 | ) | | | (9.25 | ) | | | (9.97 | ) | | | — | | | | — | |
| Year Ended July 31, 2015(h) | | $ | 62.40 | | | | (0.88 | ) | | | (12.35 | ) | | | (13.23 | ) | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 13.36 | | | | (0.07 | ) | | | (1.62 | ) | | | (1.69 | ) | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 16.08 | | | | (0.07 | ) | | | (2.65 | ) | | | (2.72 | ) | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 23.59 | | | | (0.28 | ) | | | (7.23 | ) | | | (7.51 | ) | | | — | | | | — | |
| Year Ended July 31, 2017(h) | | $ | 35.89 | | | | (0.71 | ) | | | (11.59 | ) | | | (12.30 | ) | | | — | | | | — | |
| Year Ended July 31, 2016(h) | | $ | 45.49 | | | | (1.20 | ) | | | (8.40 | ) | | | (9.60 | ) | | | — | | | | — | |
| Year Ended July 31, 2015(h) | | $ | 58.33 | | | | (1.36 | ) | | | (11.48 | ) | | | (12.84 | ) | | | — | | | | — | |
| | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
Net
Asset
Value,
End of
Period | | | Total
Return | | | Gross
Expenses(b) | | | Net
Expenses(b) | | | Net
Investment
Income
(Loss)(b) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(c) | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
| $ | 36.94 | | | | (21.23 | )%(e) | | | 2.94 | % | | | 1.78 | % | | | 0.01 | % | | $ | 8,516 | | | | — | |
| $ | 47.15 | | | | 15.56 | % | | | 2.45 | % | | | 1.78 | % | | | 0.50 | % | | $ | 3,534 | | | | — | |
| $ | 40.80 | | | | (24.67 | )% | | | 2.34 | % | | | 1.78 | % | | | (0.34 | )% | | $ | 2,038 | | | | — | |
| $ | 54.15 | | | | (51.85 | )% | | | 2.91 | % | | | 1.78 | % | | | (1.31 | )% | | $ | 1,389 | | | | — | |
| $ | 112.44 | | | | (10.90 | )% | | | 2.13 | % | | | 1.78 | % | | | (1.61 | )% | | $ | 3,509 | | | | — | |
| $ | 126.26 | | | | (11.20 | )% | | | 3.04 | % | | | 1.78 | % | | | (1.75 | )% | | $ | 4,353 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 33.02 | | | | (21.60 | )%(e) | | | 3.94 | % | | | 2.78 | % | | | (0.99 | )% | | $ | 342 | | | | — | |
| $ | 42.12 | | | | 14.43 | % | | | 3.45 | % | | | 2.78 | % | | | (0.50 | )% | | $ | 44 | | | | — | |
| $ | 36.81 | | | | (25.43 | )% | | | 3.34 | % | | | 2.78 | % | | | (1.34 | )% | | $ | 70 | | | | — | |
| $ | 49.35 | | | | (52.32 | )% | | | 3.91 | % | | | 2.78 | % | | | (2.31 | )% | | $ | 53 | | | | — | |
| $ | 103.50 | | | | (11.79 | )% | | | 3.13 | % | | | 2.78 | % | | | (2.61 | )% | | $ | 102 | | | | — | |
| $ | 117.38 | | | | (12.05 | )% | | | 4.04 | % | | | 2.78 | % | | | (2.75 | )% | | $ | 73 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 13.15 | | | | (12.26 | )%(e) | | | 2.37 | % | | | 1.78 | % | | | (0.07 | )% | | $ | 3,994 | | | | — | |
| $ | 15.04 | | | | (16.07 | )% | | | 2.25 | % | | | 1.78 | % | | | 0.47 | % | | $ | 4,491 | | | | — | |
| $ | 17.92 | | | | (31.16 | )% | | | 2.18 | % | | | 1.78 | % | | | (0.44 | )% | | $ | 3,874 | | | | — | |
| $ | 26.03 | | | | (33.60 | )% | | | 2.15 | % | | | 1.78 | % | | | (1.29 | )% | | $ | 4,865 | | | | — | |
| $ | 39.20 | | | | (20.33 | )% | | | 2.01 | % | | | 1.78 | % | | | (1.61 | )% | | $ | 4,462 | | | | — | |
| $ | 49.17 | | | | (21.15 | )% | | | 2.74 | % | | | 1.78 | % | | | (1.75 | )% | | $ | 3,867 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 11.67 | | | | (12.65 | )%(e) | | | 3.37 | % | | | 2.78 | % | | | (1.07 | )% | | $ | 234 | | | | — | |
| $ | 13.36 | | | | (16.92 | )% | | | 3.25 | % | | | 2.78 | % | | | (0.53 | )% | | $ | 179 | | | | — | |
| $ | 16.08 | | | | (31.84 | )% | | | 3.18 | % | | | 2.78 | % | | | (1.44 | )% | | $ | 268 | | | | — | |
| $ | 23.59 | | | | (34.33 | )% | | | 3.15 | % | | | 2.78 | % | | | (2.29 | )% | | $ | 453 | | | | — | |
| $ | 35.89 | | | | (21.09 | )% | | | 3.01 | % | | | 2.78 | % | | | (2.61 | )% | | $ | 677 | | | | — | |
| $ | 45.49 | | | | (21.95 | )% | | | 3.74 | % | | | 2.78 | % | | | (2.75 | )% | | $ | 312 | | | | — | |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Annualized for periods less than one year. |
| (c) | Portfolio turnover rate is calculated without regard to instruments having a maturity of less than one year from acquisition or derivative instruments (including swap agreements and futures contracts). |
| (d) | Amount is less than $0.005. |
| (e) | Not annualized for periods less than one year. |
| (f) | The amount shown for a share outstanding throughout the period does not accord with the change in aggregate gains and losses in the portfolio of securities during the period because of the timing of sales and purchase of fund shares in relation to fluctuating market values during the period. |
| (g) | As described in Note 9, share amounts have been adjusted for 1:8 reverse share split that occurred on January 22, 2018. |
| (h) | As described in Note 9, share amounts have been adjusted for 1:8 reverse share split that occurred on December 5, 2016. |
See accompanying notes to the financial statements.
258 :: Financial Highlights
ProFunds Financial Highlights FOR THE PERIODS INDICATED
Selected data for a share of beneficial interest outstanding throughout the periods indicated.
| | | | | | Investment Activities | | | Distributions to
Shareholders From | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income
(Loss)(a) | | | Net
Realized
and
Unrealized
Gains
(Losses) on
Investments | | | Total from
Investment
Activities | | | Net
Investment
Income | | | Total
Distributions | |
| UltraShort Emerging Markets ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 18.94 | | | | — | (d) | | | (3.06 | ) | | | (3.06 | ) | | | (0.07 | ) | | | (0.07 | ) |
| Year Ended July 31, 2019 | | $ | 18.41 | | | | 0.09 | | | | 0.44 | | | | 0.53 | | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 21.74 | | | | (0.07 | ) | | | (3.26 | ) | | | (3.33 | ) | | | — | | | | — | |
| Year Ended July 31, 2017(f) | | $ | 39.02 | | | | (0.40 | ) | | | (16.88 | ) | | | (17.28 | ) | | | — | | | | — | |
| Year Ended July 31, 2016(f) | | $ | 50.27 | | | | (0.85 | ) | | | (10.40 | ) | | | (11.25 | ) | | | — | | | | — | |
| Year Ended July 31, 2015(f) | | $ | 38.63 | | | | (0.75 | ) | | | 12.39 | | | | 11.64 | | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 17.34 | | | | (0.08 | ) | | | (2.78 | ) | | | (2.86 | ) | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 17.03 | | | | (0.10 | ) | | | 0.41 | | | | 0.31 | | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 20.30 | | | | (0.25 | ) | | | (3.02 | ) | | | (3.27 | ) | | | — | | | | — | |
| Year Ended July 31, 2017(f) | | $ | 36.79 | | | | (0.70 | ) | | | (15.79 | ) | | | (16.49 | ) | | | — | | | | — | |
| Year Ended July 31, 2016(f) | | $ | 47.87 | | | | (1.35 | ) | | | (9.73 | ) | | | (11.08 | ) | | | — | | | | — | |
| Year Ended July 31, 2015(f) | | $ | 37.14 | | | | (1.15 | ) | | | 11.88 | | | | 10.73 | | | | — | | | | — | |
| UltraShort International ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 13.55 | | | | — | (d) | | | (1.55 | ) | | | (1.55 | ) | | | (0.10 | ) | | | (0.10 | ) |
| Year Ended July 31, 2019 | | $ | 12.91 | | | | 0.07 | | | | 0.57 | (g) | | | 0.64 | | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 14.87 | | | | (0.07 | ) | | | (1.89 | ) | | | (1.96 | ) | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 21.68 | | | | (0.27 | ) | | | (6.54 | ) | | | (6.81 | ) | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 21.49 | | | | (0.39 | ) | | | 0.58 | | | | 0.19 | | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 23.67 | | | | (0.42 | ) | | | (1.76 | ) | | | (2.18 | ) | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 12.28 | | | | (0.06 | ) | | | (1.40 | ) | | | (1.46 | ) | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 11.82 | | | | (0.06 | ) | | | 0.52 | (g) | | | 0.46 | | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 13.74 | | | | (0.19 | ) | | | (1.73 | ) | | | (1.92 | ) | | | — | | | | — | |
| Year Ended July 31, 2017 | | $ | 20.23 | | | | (0.46 | ) | | | (6.03 | ) | | | (6.49 | ) | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 20.26 | | | | (0.62 | ) | | | 0.59 | | | | (0.03 | ) | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 22.54 | | | | (0.65 | ) | | | (1.63 | ) | | | (2.28 | ) | | | — | | | | — | |
| | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
Net
Asset
Value,
End of
Period | | | Total
Return | | | Gross
Expenses(b) | | | Net
Expenses(b) | | | Net
Investment
Income
(Loss)(b) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(c) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 15.81 | | | | (16.12 | )%(e) | | | 2.88 | % | | | 1.78 | % | | | 0.04 | % | | $ | 3,357 | | | | — | |
| $ | 18.94 | | | | 2.88 | % | | | 2.70 | % | | | 1.78 | % | | | 0.43 | % | | $ | 2,865 | | | | — | |
| $ | 18.41 | | | | (15.32 | )% | | | 2.35 | % | | | 1.78 | % | | | (0.40 | )% | | $ | 2,958 | | | | — | |
| $ | 21.74 | | | | (44.33 | )% | | | 2.21 | % | | | 1.78 | % | | | (1.32 | )% | | $ | 2,071 | | | | — | |
| $ | 39.02 | | | | (22.37 | )% | | | 1.78 | % | | | 1.78 | % | | | (1.62 | )% | | $ | 5,016 | | | | — | |
| $ | 50.27 | | | | 30.14 | % | | | 2.10 | % | | | 1.78 | % | | | (1.75 | )% | | $ | 4,464 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 14.48 | | | | (16.49 | )%(e) | | | 3.88 | % | | | 2.78 | % | | | (0.96 | )% | | $ | 82 | | | | — | |
| $ | 17.34 | | | | 1.82 | % | | | 3.70 | % | | | 2.78 | % | | | (0.57 | )% | | $ | 98 | | | | — | |
| $ | 17.03 | | | | (16.11 | )% | | | 3.35 | % | | | 2.78 | % | | | (1.40 | )% | | $ | 108 | | | | — | |
| $ | 20.30 | | | | (44.84 | )% | | | 3.21 | % | | | 2.78 | % | | | (2.32 | )% | | $ | 263 | | | | — | |
| $ | 36.79 | | | | (23.17 | )% | | | 2.78 | % | | | 2.78 | % | | | (2.62 | )% | | $ | 1,567 | | | | — | |
| $ | 47.87 | | | | 28.94 | % | | | 3.10 | % | | | 2.78 | % | | | (2.75 | )% | | $ | 2,015 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 11.90 | | | | (11.40 | )%(e) | | | 3.37 | % | | | 1.78 | % | | | (0.04 | )% | | $ | 2,844 | | | | — | |
| $ | 13.55 | | | | 4.96 | % | | | 2.43 | % | | | 1.78 | % | | | 0.50 | % | | $ | 2,156 | | | | — | |
| $ | 12.91 | | | | (13.18 | )% | | | 2.53 | % | | | 1.84 | % | | | (0.51 | )% | | $ | 2,120 | | | | — | |
| $ | 14.87 | | | | (31.41 | )% | | | 2.26 | % | | | 1.85 | % | | | (1.41 | )% | | $ | 2,920 | | | | — | |
| $ | 21.68 | | | | 0.88 | % | | | 1.74 | % | | | 1.74 | % | | | (1.60 | )% | | $ | 7,384 | | | | — | |
| $ | 21.49 | | | | (9.21 | )% | | | 2.18 | % | | | 1.78 | % | | | (1.75 | )% | | $ | 4,978 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 10.82 | | | | (11.81 | )%(e) | | | 4.37 | % | | | 2.78 | % | | | (1.04 | )% | | $ | 12 | | | | — | |
| $ | 12.28 | | | | 3.89 | % | | | 3.42 | % | | | 2.77 | % | | | (0.49 | )% | | $ | 14 | | | | — | |
| $ | 11.82 | | | | (13.97 | )% | | | 3.52 | % | | | 2.83 | % | | | (1.50 | )% | | $ | 29 | | | | — | |
| $ | 13.74 | | | | (32.08 | )% | | | 3.26 | % | | | 2.85 | % | | | (2.41 | )% | | $ | 92 | | | | — | |
| $ | 20.23 | | | | (0.15 | )% | | | 2.74 | % | | | 2.74 | % | | | (2.60 | )% | | $ | 869 | | | | — | |
| $ | 20.26 | | | | (10.12 | )% | | | 3.18 | % | | | 2.78 | % | | | (2.75 | )% | | $ | 1,020 | | | | — | |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Annualized for periods less than one year. |
| (c) | Portfolio turnover rate is calculated without regard to instruments having a maturity of less than one year from acquisition or derivative instruments (including swap agreements and futures contracts). |
| (d) | Amount is less than $0.005. |
| (e) | Not annualized for periods less than one year. |
| (f) | As described in Note 9, share amounts have been adjusted for 1:5 reverse share split that occurred on December 5, 2016. |
| (g) | The amount shown for a share outstanding throughout the period does not accord with the change in aggregate gains and losses in the portfolio of securities during the period because of the timing of sales and purchase of fund shares in relation to fluctuating market values during the period. |
See accompanying notes to the financial statements.
Financial Highlights :: 259
ProFunds Financial Highlights FOR THE PERIODS INDICATED
Selected data for a share of beneficial interest outstanding throughout the periods indicated.
| | | | | | Investment Activities | | | Distributions to
Shareholders From | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income
(Loss)(a) | | | Net
Realized
and
Unrealized
Gains
(Losses) on
Investments | | | Total from
Investment
Activities | | | Net
Investment
Income | | | Total
Distributions | |
| UltraShort Japan ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 32.34 | | | | (0.03 | ) | | | (4.98 | ) | | | (5.01 | ) | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 32.76 | | | | 0.06 | | | | (0.48 | ) | | | (0.42 | ) | | | — | | | | — | |
| Year Ended July 31, 2018(e) | | $ | 47.18 | | | | (0.23 | ) | | | (14.19 | ) | | | (14.42 | ) | | | — | | | | — | |
| Year Ended July 31, 2017(e) | | $ | 75.55 | | | | (0.75 | ) | | | (27.62 | ) | | | (28.37 | ) | | | — | | | | — | |
| Year Ended July 31, 2016(e) | | $ | 62.40 | | | | (1.25 | ) | | | 14.40 | | | | 13.15 | | | | — | | | | — | |
| Year Ended July 31, 2015(e) | | $ | 125.62 | | | | (1.50 | ) | | | (61.72 | ) | | | (63.22 | ) | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 29.45 | | | | (0.17 | ) | | | (4.58 | ) | | | (4.75 | ) | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 30.00 | | | | (0.23 | ) | | | (0.32 | ) | | | (0.55 | ) | | | — | | | | — | |
| Year Ended July 31, 2018(e) | | $ | 43.73 | | | | (0.61 | ) | | | (13.12 | ) | | | (13.73 | ) | | | — | | | | — | |
| Year Ended July 31, 2017(e) | | $ | 70.74 | | | | (1.25 | ) | | | (25.76 | ) | | | (27.01 | ) | | | — | | | | — | |
| Year Ended July 31, 2016(e) | | $ | 58.99 | | | | (1.95 | ) | | | 13.70 | | | | 11.75 | | | | — | | | | — | |
| Year Ended July 31, 2015(e) | | $ | 119.86 | | | | (2.45 | ) | | | (58.42 | ) | | | (60.87 | ) | | | — | | | | — | |
| UltraShort Latin America ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 27.71 | | | | — | (f) | | | 1.05 | | | | 1.05 | | | | (0.09 | ) | | | (0.09 | ) |
| Year Ended July 31, 2019 | | $ | 35.01 | | | | 0.16 | | | | (7.46 | ) | | | (7.30 | ) | | | — | | | | — | |
| Year Ended July 31, 2018(e) | | $ | 40.03 | | | | (0.21 | ) | | | (4.81 | ) | | | (5.02 | ) | | | — | | | | — | |
| Year Ended July 31, 2017(e) | | $ | 74.09 | | | | (0.70 | ) | | | (33.36 | ) | | | (34.06 | ) | | | — | | | | — | |
| Year Ended July 31, 2016(e) | | $ | 113.33 | | | | (2.15 | ) | | | (37.09 | ) | | | (39.24 | ) | | | — | | | | — | |
| Year Ended July 31, 2015(e) | | $ | 63.36 | | | | (1.50 | ) | | | 51.47 | | | | 49.97 | | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 24.69 | | | | (0.13 | ) | | | 0.92 | | | | 0.79 | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 31.51 | | | | (0.12 | ) | | | (6.70 | ) | | | (6.82 | ) | | | — | | | | — | |
| Year Ended July 31, 2018(e) | | $ | 36.45 | | | | (0.55 | ) | | | (4.39 | ) | | | (4.94 | ) | | | — | | | | — | |
| Year Ended July 31, 2017(e) | | $ | 68.13 | | | | (1.15 | ) | | | (30.53 | ) | | | (31.68 | ) | | | — | | | | — | |
| Year Ended July 31, 2016(e) | | $ | 105.26 | | | | (3.40 | ) | | | (33.73 | ) | | | (37.13 | ) | | | — | | | | — | |
| Year Ended July 31, 2015(e) | | $ | 59.34 | | | | (2.30 | ) | | | 48.22 | | | | 45.92 | | | | — | | | | — | |
| | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
Net
Asset
Value,
End of
Period | | | Total
Return | | | Gross
Expenses(b) | | | Net
Expenses(b) | | | Net
Investment
Income
(Loss)(b) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(c) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 27.33 | | | | (15.49 | )%(d) | | | 4.34 | % | | | 1.78 | % | | | (0.23 | )% | | $ | 1,187 | | | | — | |
| $ | 32.34 | | | | (1.28 | )% | | | 5.49 | % | | | 1.78 | % | | | 0.18 | % | | $ | 1,010 | | | | — | |
| $ | 32.76 | | | | (30.59 | )% | | | 3.66 | % | | | 1.78 | % | | | (0.60 | )% | | $ | 709 | | | | — | |
| $ | 47.18 | | | | (37.52 | )% | | | 3.16 | % | | | 1.78 | % | | | (1.37 | )% | | $ | 1,249 | | | | — | |
| $ | 75.55 | | | | 21.07 | % | | | 2.82 | % | | | 1.78 | % | | | (1.62 | )% | | $ | 3,278 | | | | — | |
| $ | 62.40 | | | | (50.34 | )% | | | 3.54 | % | | | 1.78 | % | | | (1.76 | )% | | $ | 1,027 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 24.70 | | | | (15.90 | )%(d) | | | 5.34 | % | | | 2.78 | % | | | (1.23 | )% | | $ | 3 | | | | — | |
| $ | 29.45 | | | | (2.26 | )% | | | 6.49 | % | | | 2.78 | % | | | (0.82 | )% | | $ | 4 | | | | — | |
| $ | 30.00 | | | | (31.31 | )% | | | 4.66 | % | | | 2.78 | % | | | (1.60 | )% | | $ | 5 | | | | — | |
| $ | 43.73 | | | | (38.16 | )% | | | 4.16 | % | | | 2.78 | % | | | (2.37 | )% | | $ | 47 | | | | — | |
| $ | 70.74 | | | | 19.92 | % | | | 3.82 | % | | | 2.78 | % | | | (2.62 | )% | | $ | 25 | | | | — | |
| $ | 58.99 | | | | (50.79 | )% | | | 4.54 | % | | | 2.78 | % | | | (2.76 | )% | | $ | 12 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 28.67 | | | | 3.84 | %(d) | | | 2.51 | % | | | 1.78 | % | | | (0.01 | )% | | $ | 3,357 | | | | — | |
| $ | 27.71 | | | | (20.85 | )% | | | 2.42 | % | | | 1.78 | % | | | 0.53 | % | | $ | 4,681 | | | | — | |
| $ | 35.01 | | | | (12.58 | )% | | | 2.05 | % | | | 1.78 | % | | | (0.60 | )% | | $ | 3,711 | | | | — | |
| $ | 40.03 | | | | (45.95 | )% | | | 2.29 | % | | | 1.78 | % | | | (1.28 | )% | | $ | 4,476 | | | | — | |
| $ | 74.09 | | | | (34.63 | )% | | | 1.78 | % | | | 1.78 | % | | | (1.59 | )% | | $ | 5,913 | | | | — | |
| $ | 113.33 | | | | 78.93 | % | | | 2.18 | % | | | 1.78 | % | | | (1.75 | )% | | $ | 6,327 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 25.48 | | | | 3.24 | %(d) | | | 3.51 | % | | | 2.78 | % | | | (1.01 | )% | | $ | 53 | | | | — | |
| $ | 24.69 | | | | (21.67 | )% | | | 3.42 | % | | | 2.78 | % | | | (0.47 | )% | | $ | 61 | | | | — | |
| $ | 31.51 | | | | (13.53 | )% | | | 3.05 | % | | | 2.78 | % | | | (1.60 | )% | | $ | 74 | | | | — | |
| $ | 36.45 | | | | (46.52 | )% | | | 3.29 | % | | | 2.78 | % | | | (2.28 | )% | | $ | 6,981 | | | | — | |
| $ | 68.13 | | | | (35.25 | )% | | | 2.78 | % | | | 2.78 | % | | | (2.59 | )% | | $ | 439 | | | | — | |
| $ | 105.26 | | | | 77.34 | % | | | 3.14 | % | | | 2.74 | % | | | (2.71 | )% | | $ | 191 | | | | — | |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Annualized for periods less than one year. |
| (c) | Portfolio turnover rate is calculated without regard to instruments having a maturity of less than one year from acquisition or derivative instruments (including swap agreements and futures contracts). |
| (d) | Not annualized for periods less than one year. |
| (e) | As described in Note 9, share amounts have been adjusted for 1:5 reverse share split that occurred on January 22, 2018. |
| (f) | Amount is less than $0.005. |
See accompanying notes to the financial statements.
260 :: Financial Highlights
ProFunds Financial Highlights FOR THE PERIODS INDICATED
Selected data for a share of beneficial interest outstanding throughout the periods indicated.
| | | | | | Investment Activities | | | Distributions to
Shareholders From | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income
(Loss)(a) | | | Net
Realized
and
Unrealized
Gains
(Losses) on
Investments | | | Total from
Investment
Activities | | | Net
Investment
Income | | | Total
Distributions | |
| UltraShort Mid-Cap ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 19.82 | | | | (0.01 | ) | | | (1.39 | ) | | | (1.40 | ) | | | (0.08 | ) | | | (0.08 | ) |
| Year Ended July 31, 2019 | | $ | 20.73 | | | | 0.11 | | | | (1.02 | ) | | | (0.91 | ) | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 27.77 | | | | (0.11 | ) | | | (6.93 | ) | | | (7.04 | ) | | | — | | | | — | |
| Year Ended July 31, 2017(e) | | $ | 37.96 | | | | (0.41 | ) | | | (9.78 | ) | | | (10.19 | ) | | | — | | | | — | |
| Year Ended July 31, 2016(e) | | $ | 47.51 | | | | (0.80 | ) | | | (8.75 | ) | | | (9.55 | ) | | | — | | | | — | |
| Year Ended July 31, 2015(e) | | $ | 63.15 | | | | (0.90 | ) | | | (14.74 | ) | | | (15.64 | ) | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 17.72 | | | | (0.09 | ) | | | (1.23 | ) | | | (1.32 | ) | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 18.73 | | | | (0.08 | ) | | | (0.93 | ) | | | (1.01 | ) | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 25.30 | | | | (0.32 | ) | | | (6.25 | ) | | | (6.57 | ) | | | — | | | | — | |
| Year Ended July 31, 2017(e) | | $ | 34.94 | | | | (0.70 | ) | | | (8.94 | ) | | | (9.64 | ) | | | — | | | | — | |
| Year Ended July 31, 2016(e) | | $ | 44.25 | | | | (1.30 | ) | | | (8.01 | ) | | | (9.31 | ) | | | — | | | | — | |
| Year Ended July 31, 2015(e) | | $ | 59.52 | | | | (1.40 | ) | | | (13.87 | ) | | | (15.27 | ) | | | — | | | | — | |
| UltraShort Nasdaq-100 ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 12.69 | | | | — | (f) | | | (3.29 | ) | | | (3.29 | ) | | | (0.04 | ) | | | (0.04 | ) |
| Year Ended July 31, 2019 | | $ | 16.36 | | | | 0.08 | | | | (3.75 | ) | | | (3.67 | ) | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 26.69 | | | | (0.09 | ) | | | (10.24 | ) | | | (10.33 | ) | | | — | | | | — | |
| Year Ended July 31, 2017(g) | | $ | 43.68 | | | | (0.42 | ) | | | (16.57 | ) | | | (16.99 | ) | | | — | | | | — | |
| Year Ended July 31, 2016(g) | | $ | 54.21 | | | | (0.80 | ) | | | (9.73 | ) | | | (10.53 | ) | | | — | | | | — | |
| Year Ended July 31, 2015(g) | | $ | 83.10 | | | | (1.15 | ) | | | (27.74 | ) | | | (28.89 | ) | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 12.20 | | | | (0.06 | ) | | | (3.15 | ) | | | (3.21 | ) | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 15.87 | | | | (0.06 | ) | | | (3.61 | ) | | | (3.67 | ) | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 26.12 | | | | (0.28 | ) | | | (9.97 | ) | | | (10.25 | ) | | | — | | | | — | |
| Year Ended July 31, 2017(g) | | $ | 43.16 | | | | (0.76 | ) | | | (16.28 | ) | | | (17.04 | ) | | | — | | | | — | |
| Year Ended July 31, 2016(g) | | $ | 54.10 | | | | (1.35 | ) | | | (9.59 | ) | | | (10.94 | ) | | | — | | | | — | |
| Year Ended July 31, 2015(g) | | $ | 83.72 | | | | (1.80 | ) | | | (27.82 | ) | | | (29.62 | ) | | | — | | | | — | |
| | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
Net
Asset
Value,
End of
Period | | | Total
Return | | | Gross
Expenses(b) | | | Net
Expenses(b) | | | Net
Investment
Income
(Loss)(b) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(c) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 18.34 | | | | (7.02 | )%(d) | | | 3.45 | % | | | 1.78 | % | | | (0.06 | )% | | $ | 1,372 | | | | — | |
| $ | 19.82 | | | | (4.39 | )% | | | 3.04 | % | | | 1.78 | % | | | 0.50 | % | | $ | 1,475 | | | | — | |
| $ | 20.73 | | | | (25.35 | )% | | | 3.12 | % | | | 1.78 | % | | | (0.45 | )% | | $ | 1,067 | | | | — | |
| $ | 27.77 | | | | (26.92 | )% | | | 2.95 | % | | | 1.77 | % | | | (1.28 | )% | | $ | 1,670 | | | | — | |
| $ | 37.96 | | | | (20.00 | )% | | | 2.27 | % | | | 1.78 | % | | | (1.63 | )% | | $ | 1,737 | | | | — | |
| $ | 47.51 | | | | (24.72 | )% | | | 2.72 | % | | | 1.78 | % | | | (1.75 | )% | | $ | 2,315 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 16.40 | | | | (7.45 | )%(d) | | | 4.45 | % | | | 2.78 | % | | | (1.06 | )% | | $ | 20 | | | | — | |
| $ | 17.72 | | | | (5.39 | )% | | | 4.04 | % | | | 2.78 | % | | | (0.50 | )% | | $ | 16 | | | | — | |
| $ | 18.73 | | | | (26.00 | )% | | | 4.12 | % | | | 2.78 | % | | | (1.45 | )% | | $ | 11 | | | | — | |
| $ | 25.30 | | | | (27.48 | )% | | | 3.95 | % | | | 2.77 | % | | | (2.28 | )% | | $ | 14 | | | | — | |
| $ | 34.94 | | | | (21.04 | )% | | | 3.27 | % | | | 2.78 | % | | | (2.63 | )% | | $ | 8 | | | | — | |
| $ | 44.25 | | | | (25.71 | )% | | | 3.72 | % | | | 2.78 | % | | | (2.75 | )% | | $ | 85 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 9.36 | | | | (25.98 | )%(d) | | | 1.85 | % | | | 1.85 | % | | | (0.05 | )% | | $ | 14,451 | | | | — | |
| $ | 12.69 | | | | (22.43 | )% | | | 1.77 | % | | | 1.77 | % | | | 0.51 | % | | $ | 14,948 | | | | — | |
| $ | 16.36 | | | | (38.70 | )% | | | 1.76 | % | | | 1.76 | % | | | (0.44 | )% | | $ | 12,427 | | | | — | |
| $ | 26.69 | | | | (38.92 | )% | | | 1.77 | % | | | 1.77 | % | | | (1.22 | )% | | $ | 18,170 | | | | — | |
| $ | 43.68 | | | | (19.37 | )% | | | 1.75 | % | | | 1.73 | % | | | (1.55 | )% | | $ | 12,361 | | | | — | |
| $ | 54.21 | | | | (34.78 | )% | | | 1.94 | % | | | 1.78 | % | | | (1.75 | )% | | $ | 11,747 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 8.99 | | | | (26.31 | )%(d) | | | 2.85 | % | | | 2.85 | % | | | (1.05 | )% | | $ | 445 | | | | — | |
| $ | 12.20 | | | | (23.13 | )% | | | 2.77 | % | | | 2.77 | % | | | (0.49 | )% | | $ | 516 | | | | — | |
| $ | 15.87 | | | | (39.24 | )% | | | 2.76 | % | | | 2.76 | % | | | (1.44 | )% | | $ | 91 | | | | — | |
| $ | 26.12 | | | | (39.47 | )% | | | 2.77 | % | | | 2.77 | % | | | (2.22 | )% | | $ | 126 | | | | — | |
| $ | 43.16 | | | | (20.24 | )% | | | 2.75 | % | | | 2.73 | % | | | (2.55 | )% | | $ | 82 | | | | — | |
| $ | 54.10 | | | | (35.36 | )% | | | 2.94 | % | | | 2.78 | % | | | (2.75 | )% | | $ | 245 | | | | — | |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Annualized for periods less than one year. |
| (c) | Portfolio turnover rate is calculated without regard to instruments having a maturity of less than one year from acquisition or derivative instruments (including swap agreements and futures contracts). |
| (d) | Not annualized for periods less than one year. |
| (e) | As described in Note 9, share amounts have been adjusted for 1:10 reverse share split that occurred on December 5, 2016. |
| (f) | Amount is less than $0.005. |
| (g) | As described in Note 9, share amounts have been adjusted for 1:5 reverse share split that occurred on December 5, 2016. |
See accompanying notes to the financial statements.
Financial Highlights :: 261
ProFunds Financial Highlights FOR THE PERIODS INDICATED
Selected data for a share of beneficial interest outstanding throughout the periods indicated.
| | | | | | Investment Activities | | | Distributions to Shareholders From | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income
(Loss)(a) | | | Net
Realized
and
Unrealized
Gains
(Losses) on
Investments | | | Total from
Investment
Activities | | | Net
Investment
Income | | | Net
Realized
Gains on
Investments | | | Total
Distributions | |
| UltraShort Small-Cap ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 30.78 | | | | (0.01 | ) | | | (2.56 | ) | | | (2.57 | ) | | | (0.08 | ) | | | — | | | | (0.08 | ) |
| Year Ended July 31, 2019 | | $ | 29.84 | | | | 0.16 | | | | 0.78 | (e) | | | 0.94 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2018(f) | | $ | 43.84 | | | | (0.10 | ) | | | (13.90 | ) | | | (14.00 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2017(f) | | $ | 66.19 | | | | (0.68 | ) | | | (21.67 | ) | | | (22.35 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016(f) | | $ | 76.53 | | | | (1.32 | ) | | | (9.02 | ) | | | (10.34 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015(f) | | $ | 105.85 | | | | (1.56 | ) | | | (27.76 | ) | | | (29.32 | ) | | | — | | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 28.86 | | | | (0.15 | ) | | | (2.38 | ) | | | (2.53 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 28.27 | | | | (0.16 | ) | | | 0.75 | (e) | | | 0.59 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2018(f) | | $ | 41.92 | | | | (0.45 | ) | | | (13.20 | ) | | | (13.65 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2017(f) | | $ | 63.93 | | | | (1.16 | ) | | | (20.85 | ) | | | (22.01 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016(f) | | $ | 74.76 | | | | (2.08 | ) | | | (8.75 | ) | | | (10.83 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015(f) | | $ | 104.51 | | | | (2.40 | ) | | | (27.35 | ) | | | (29.75 | ) | | | — | | | | — | | | | — | |
| UltraSmall-Cap ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 57.95 | | | | (0.03 | ) | | | 1.85 | | | | 1.82 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 68.79 | | | | 0.13 | | | | (10.91 | ) | | | (10.78 | ) | | | (0.05 | ) | | | (0.01 | ) | | | (0.06 | ) |
| Year Ended July 31, 2018 | | $ | 52.24 | | | | (0.16 | ) | | | 17.14 | | | | 16.98 | | | | — | | | | (0.43 | ) | | | (0.43 | ) |
| Year Ended July 31, 2017 | | $ | 39.08 | | | | (0.31 | ) | | | 13.47 | | | | 13.16 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 41.54 | | | | (0.25 | ) | | | (2.21 | ) | | | (2.46 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 34.68 | | | | (0.33 | ) | | | 7.19 | | | | 6.86 | | | | — | | | | — | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 47.88 | | | | (0.27 | ) | | | 1.52 | | | | 1.25 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2019 | | $ | 57.34 | | | | (0.35 | ) | | | (9.10 | ) | | | (9.45 | ) | | | — | | | | (0.01 | ) | | | (0.01 | ) |
| Year Ended July 31, 2018 | | $ | 44.08 | | | | (0.63 | ) | | | 14.32 | | | | 13.69 | | | | — | | | | (0.43 | ) | | | (0.43 | ) |
| Year Ended July 31, 2017 | | $ | 33.30 | | | | (0.70 | ) | | | 11.48 | | | | 10.78 | | | | — | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 35.78 | | | | (0.54 | ) | | | (1.94 | ) | | | (2.48 | ) | | | — | | | | — | | | | — | |
| Year Ended July 31, 2015 | | $ | 30.16 | | | | (0.66 | ) | | | 6.28 | | | | 5.62 | | | | — | | | | — | | | | — | |
| | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
Net
Asset
Value,
End of
Period | | | Total
Return | | | Gross
Expenses(b) | | | Net
Expenses(b) | | | Net
Investment
Income
(Loss)(b) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(c) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 28.13 | | | | (8.34 | )%(d) | | | 2.25 | % | | | 1.78 | % | | | (0.05 | )% | | $ | 5,749 | | | | — | |
| $ | 30.78 | | | | 3.22 | % | | | 3.14 | % | | | 1.78 | % | | | 0.50 | % | | $ | 4,541 | | | | — | |
| $ | 29.84 | | | | (31.98 | )% | | | 2.03 | % | | | 1.76 | % | | | (0.29 | )% | | $ | 4,058 | | | | — | |
| $ | 43.84 | | | | (33.78 | )% | | | 1.79 | % | | | 1.79 | % | | | (1.29 | )% | | $ | 8,591 | | | | — | |
| $ | 66.19 | | | | (13.49 | )% | | | 1.78 | % | | | 1.78 | % | | | (1.59 | )% | | $ | 8,576 | | | | — | |
| $ | 76.53 | | | | (27.70 | )% | | | 2.12 | % | | | 1.78 | % | | | (1.75 | )% | | $ | 7,472 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 26.33 | | | | (8.77 | )%(d) | | | 3.25 | % | | | 2.78 | % | | | (1.05 | )% | | $ | 206 | | | | — | |
| $ | 28.86 | | | | 2.16 | % | | | 4.14 | % | | | 2.78 | % | | | (0.50 | )% | | $ | 158 | | | | — | |
| $ | 28.27 | | | | (32.61 | )% | | | 3.03 | % | | | 2.76 | % | | | (1.29 | )% | | $ | 111 | | | | — | |
| $ | 41.92 | | | | (34.46 | )% | | | 2.79 | % | | | 2.79 | % | | | (2.29 | )% | | $ | 239 | | | | — | |
| $ | 63.93 | | | | (14.45 | )% | | | 2.78 | % | | | 2.78 | % | | | (2.59 | )% | | $ | 1,774 | | | | — | |
| $ | 74.76 | | | | (28.47 | )% | | | 3.12 | % | | | 2.78 | % | | | (2.75 | )% | | $ | 1,127 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 59.77 | | | | 3.14 | %(d) | | | 1.77 | % | | | 1.77 | % | | | (0.10 | )% | | $ | 44,653 | | | | 76 | %(d) |
| $ | 57.95 | | | | (15.64 | )% | | | 1.60 | % | | | 1.60 | % | | | 0.23 | % | | $ | 62,102 | | | | 77 | % |
| $ | 68.79 | | | | 32.65 | % | | | 1.49 | % | | | 1.49 | % | | | (0.26 | )% | | $ | 68,965 | | | | 29 | % |
| $ | 52.24 | | | | 33.65 | % | | | 1.50 | % | | | 1.50 | % | | | (0.68 | )% | | $ | 90,054 | | | | 71 | % |
| $ | 39.08 | | | | (5.92 | )% | | | 1.60 | % | | | 1.60 | % | | | (0.73 | )% | | $ | 60,083 | | | | 123 | % |
| $ | 41.54 | | | | 19.78 | % | | | 1.66 | % | | | 1.66 | % | | | (0.85 | )% | | $ | 47,826 | | | | 50 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 49.13 | | | | 2.61 | %(d) | | | 2.77 | % | | | 2.77 | % | | | (1.10 | )% | | $ | 393 | | | | 76 | %(d) |
| $ | 47.88 | | | | (16.47 | )% | | | 2.60 | % | | | 2.60 | % | | | (0.77 | )% | | $ | 460 | | | | 77 | % |
| $ | 57.34 | | | | 31.20 | % | | | 2.49 | % | | | 2.49 | % | | | (1.26 | )% | | $ | 1,847 | | | | 29 | % |
| $ | 44.08 | | | | 32.37 | % | | | 2.50 | % | | | 2.50 | % | | | (1.68 | )% | | $ | 720 | | | | 71 | % |
| $ | 33.30 | | | | (6.93 | )% | | | 2.60 | % | | | 2.60 | % | | | (1.73 | )% | | $ | 491 | | | | 123 | % |
| $ | 35.78 | | | | 18.63 | % | | | 2.66 | % | | | 2.66 | % | | | (1.85 | )% | | $ | 1,075 | | | | 50 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Annualized for periods less than one year. |
| (c) | Portfolio turnover rate is calculated without regard to instruments having a maturity of less than one year from acquisition or derivative instruments (including swap agreements and futures contracts). The portfolio turnover rate can be high and volatile due to the amount and timing of sales and purchases of fund shares during the period. Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between classes of shares issued. |
| (d) | Not annualized for periods less than one year. |
| (e) | The amount shown for a share outstanding throughout the period does not accord with the change in aggregate gains and losses in the portfolio of securities during the period because of the timing of sales and purchase of fund shares in relation to fluctuating market values during the period. |
| (f) | As described in Note 9, share amounts have been adjusted for 1:4 reverse share split that occurred on January 22, 2018. |
See accompanying notes to the financial statements.
262 :: Financial Highlights
ProFunds Financial Highlights FOR THE PERIODS INDICATED
Selected data for a share of beneficial interest outstanding throughout the periods indicated.
| | | | | | Investment Activities | | | Distributions to
Shareholders From | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income
(Loss)(a) | | | Net
Realized
and
Unrealized
Gains
(Losses) on
Investments | | | Total from
Investment
Activities | | | Net
Investment
Income | | | Total
Distributions | |
| Utilities UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 54.09 | | | | 0.29 | | | | 12.12 | | | | 12.41 | | | | (1.04 | ) | | | (1.04 | ) |
| Year Ended July 31, 2019 | | $ | 45.64 | | | | 0.71 | | | | 8.04 | | | | 8.75 | | | | (0.30 | ) | | | (0.30 | ) |
| Year Ended July 31, 2018 | | $ | 45.01 | | | | 0.48 | | | | 0.48 | | | | 0.96 | | | | (0.33 | ) | | | (0.33 | ) |
| Year Ended July 31, 2017 | | $ | 42.70 | | | | 0.43 | | | | 2.20 | | | | 2.63 | | | | (0.32 | ) | | | (0.32 | ) |
| Year Ended July 31, 2016 | | $ | 32.45 | | | | 0.10 | | | | 10.60 | | | | 10.70 | | | | (0.45 | ) | | | (0.45 | ) |
| Year Ended July 31, 2015 | | $ | 29.23 | | | | 0.29 | | | | 3.13 | | | | 3.42 | | | | (0.20 | ) | | | (0.20 | ) |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2020 (unaudited) | | $ | 50.80 | | | | 0.03 | | | | 11.34 | | | | 11.37 | | | | (0.92 | ) | | | (0.92 | ) |
| Year Ended July 31, 2019 | | $ | 42.98 | | | | 0.26 | | | | 7.56 | | | | 7.82 | | | | — | | | | — | |
| Year Ended July 31, 2018 | | $ | 42.79 | | | | 0.07 | | | | 0.41 | | | | 0.48 | | | | (0.29 | ) | | | (0.29 | ) |
| Year Ended July 31, 2017 | | $ | 40.67 | | | | 0.05 | | | | 2.07 | | | | 2.12 | | | | — | | | | — | |
| Year Ended July 31, 2016 | | $ | 30.83 | | | | (0.23 | ) | | | 10.10 | | | | 9.87 | | | | (0.03 | ) | | | (0.03 | ) |
| Year Ended July 31, 2015 | | $ | 27.95 | | | | (0.03 | ) | | | 2.97 | | | | 2.94 | | | | (0.06 | ) | | | (0.06 | ) |
| | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
Net
Asset
Value,
End of
Period | | | Total
Return | | | Gross
Expenses(b) | | | Net
Expenses(b) | | | Net
Investment
Income
(Loss)(b) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(c) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 65.46 | | | | 23.12 | %(d) | | | 1.66 | % | | | 1.66 | % | | | 0.99 | % | | $ | 34,872 | | | | 215 | %(d) |
| $ | 54.09 | | | | 19.30 | % | | | 1.72 | % | | | 1.72 | % | | | 1.41 | % | | $ | 31,558 | | | | 406 | % |
| $ | 45.64 | | | | 2.15 | % | | | 1.69 | % | | | 1.69 | % | | | 1.07 | % | | $ | 8,208 | | | | 314 | % |
| $ | 45.01 | | | | 6.27 | % | | | 1.65 | % | | | 1.65 | % | | | 1.06 | % | | $ | 16,755 | | | | 97 | % |
| $ | 42.70 | | | | 33.41 | % | | | 1.76 | % | | | 1.76 | % | | | 0.28 | % | | $ | 71,264 | | | | 229 | % |
| $ | 32.45 | | | | 11.61 | % | | | 1.76 | % | | | 1.76 | % | | | 0.85 | % | | $ | 8,537 | | | | 305 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| $ | 61.25 | | | | 22.56 | %(d) | | | 2.59 | % | | | 2.59 | % | | | 0.06 | % | | $ | 1,378 | | | | 215 | %(d) |
| $ | 50.80 | | | | 18.19 | % | | | 2.67 | % | | | 2.67 | % | | | 0.46 | % | | $ | 1,265 | | | | 406 | % |
| $ | 42.98 | | | | 1.14 | % | | | 2.67 | % | | | 2.67 | % | | | 0.09 | % | | $ | 635 | | | | 314 | % |
| $ | 42.79 | | | | 5.19 | % | | | 2.65 | % | | | 2.65 | % | | | 0.06 | % | | $ | 671 | | | | 97 | % |
| $ | 40.67 | | | | 32.09 | % | | | 2.76 | % | | | 2.76 | % | | | (0.72 | )% | | $ | 3,106 | | | | 229 | % |
| $ | 30.83 | | | | 10.49 | % | | | 2.76 | % | | | 2.76 | % | | | (0.15 | )% | | $ | 2,287 | | | | 305 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Annualized for periods less than one year. |
| (c) | Portfolio turnover rate is calculated without regard to instruments having a maturity of less than one year from acquisition or derivative instruments (including swap agreements and futures contracts). The portfolio turnover rate can be high and volatile due to the amount and timing of sales and purchases of fund shares during the period. Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between classes of shares issued. |
| (d) | Not annualized for periods less than one year. |
See accompanying notes to the financial statements.
Notes to Financial Statements
264 :: Notes to Financial Statements ::January 31, 2020 (unaudited)
1. Organization
ProFunds (the "Trust") consists of 112 separate investment portfolios and is registered as an open-end management investment company under the Investment Company Act of 1940 (the "1940 Act") and thus follows accounting and reporting guidance for investment companies. The Trust is organized as a Delaware statutory trust and is authorized to issue an unlimited number of shares of beneficial interest of no par value which may be issued in more than one class or series. These accompanying financial statements relate to the following portfolios of the Trust included in this report (collectively, the "ProFunds" and individually, a "ProFund"):
Classic ProFunds:
| Bull ProFund | Mid-Cap Value ProFund |
| Europe 30 ProFund | Nasdaq-100 ProFund |
| Large-Cap Growth ProFund | Small-Cap ProFund |
| Large-Cap Value ProFund | Small-Cap Growth ProFund |
| Mid-Cap ProFund | Small-Cap Value ProFund |
| Mid-Cap Growth ProFund | |
Ultra ProFunds:
| UltraBull ProFund | UltraJapan ProFund |
| UltraChina ProFund | UltraLatin America ProFund |
| UltraDow 30 ProFund | UltraMid-Cap ProFund |
| UltraEmerging Markets ProFund | UltraNasdaq-100 ProFund |
| UltraInternational ProFund | UltraSmall-Cap ProFund |
Inverse ProFunds:
| Bear ProFund | UltraShort International ProFund |
| Short Nasdaq-100 ProFund | UltraShort Japan ProFund |
| Short Small-Cap ProFund | UltraShort Latin America ProFund |
| UltraBear ProFund | UltraShort Mid-Cap ProFund |
| UltraShort China ProFund | UltraShort Nasdaq-100 ProFund |
| UltraShort Dow 30 ProFund | UltraShort Small-Cap ProFund |
| UltraShort Emerging Markets ProFund | |
UltraSector ProFunds:
| Banks UltraSector ProFund | Oil & Gas UltraSector ProFund |
| Basic Materials UltraSector ProFund | Oil Equipment & Services UltraSector ProFund |
| Biotechnology UltraSector ProFund | Pharmaceuticals UltraSector ProFund |
| Communication Services UltraSector ProFund | Precious Metals UltraSector ProFund |
| Consumer Goods UltraSector ProFund | Real Estate UltraSector ProFund |
| Consumer Services UltraSector ProFund | Semiconductor UltraSector ProFund |
| Financials UltraSector ProFund | Technology UltraSector ProFund |
| Health Care UltraSector ProFund | Telecommunications UltraSector ProFund |
| Industrials UltraSector ProFund | Utilities UltraSector ProFund |
| Internet UltraSector ProFund | |
Inverse Sector ProFunds:
| Short Oil & Gas ProFund | Short Real Estate ProFund |
| Short Precious Metals ProFund | |
Non-Equity ProFunds:
| Falling U.S. Dollar ProFund | Rising U.S. Dollar ProFund |
| Rising Rates Opportunity ProFund | U.S. Government Plus ProFund |
| Rising Rates Opportunity 10 ProFund | |
Each ProFund, other than Europe 30 ProFund, Large-Cap Growth ProFund, Large-Cap Value ProFund, Mid-Cap Growth ProFund, Mid-Cap Value ProFund, Small-Cap Growth ProFund, and Small-Cap Value ProFund is classified as non-diversified under the 1940 Act. Each ProFund has two classes of shares outstanding: an Investor Class and a Service Class.
Each class of shares has identical rights and privileges except with respect to fees paid under the Distribution and Shareholder Services Plan and voting rights on matters affecting a single class of shares.
Under the Trust's organizational documents, its Officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust. In addition, in the normal course of business, the Trust enters into contracts with its vendors
January 31, 2020 (unaudited):: Notes to Financial Statements :: 265
and others that provide for general indemnifications. The Trust and ProFunds' maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the ProFunds.
2. Significant Accounting Policies
The following is a summary of significant accounting policies followed by each ProFund in the preparation of its financial statements. These policies are in conformity with U.S. generally accepted accounting principles ("GAAP"). The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. The actual results could differ from those estimates.
Investment Valuation
The ProFunds record their investments at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The valuation techniques used to determine fair value are further described in Note 3.
Repurchase Agreements
Each ProFund may enter into repurchase agreements with financial institutions in pursuit of its investment objective, as "cover" for the investment techniques it employs, or for liquidity purposes. Repurchase agreements are primarily used by the ProFunds as short-term investments for cash positions. Under a repurchase agreement, a ProFund purchases a debt security and simultaneously agrees to sell the security 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 ProFunds 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 continuously monitored by ProFund Advisors LLC (the "Advisor"). In addition, the value of the collateral underlying the repurchase agreement will always be at least equal to the repurchase price, including any accrued interest earned on the repurchase agreement. Funds within both the Trust and Access One Trust (an affiliated trust) invest in repurchase agreements jointly. Each ProFund, therefore, holds a pro rata share of the collateral and interest income based upon the dollar amount of the repurchase agreements entered into by each ProFund. The collateral underlying the repurchase agreement is held by the ProFund's custodian. In the event of a default or bankruptcy by a selling financial institution, a ProFund will seek to liquidate such collateral which could involve certain costs or delays and, to the extent that proceeds from any sale upon a default of the obligation to repurchase were less than the repurchase price, the ProFund could suffer a loss. A ProFund also may experience difficulties and incur certain costs in exercising its rights to the collateral and may lose the interest the ProFund expected to receive under the repurchase agreement. Repurchase agreements usually are for short periods, such as one week or less, but may be longer. It is the current policy of the ProFunds not to invest in repurchase agreements that do not mature within seven days if any such investment, together with any other illiquid assets held by the ProFund, amounts to more than 15% of the ProFund's total net assets. The investments of each of the ProFunds in repurchase agreements at times may be substantial when, in the view of the Advisor, liquidity, investment, regulatory, or other considerations so warrant. During periods of high demand for repurchase agreements, the ProFunds may be unable to invest available cash in these instruments to the extent desired by the Advisor.
Information concerning the counterparties, value of, collateralization and amounts due under repurchase agreement transactions may be found in the table below.
As of January 31, 2020, the ProFunds had 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 | | Canadian
Imperial Bank of
Commerce,
1.42%,
dated 1/31/20,
due 2/3/20(1) | | | HSBC Securities
(USA), Inc.,
1.47%,
dated 1/31/20,
due 2/3/20(2) | | | RBC Capital
Markets, LLC,
1.44%,
dated 1/31/20,
due 2/3/20(3) | | | Societe
Generale,
1.51%,
dated 1/31/20,
due 2/3/20(4) | | | UMB Bank, N.A.,
1.32%,
dated 1/31/20,
due 2/3/20(5) | |
| Banks UltraSector ProFund | | $ | 361,000 | | | $ | 868,000 | | | $ | 796,000 | | | $ | 1,033,000 | | | $ | 297,000 | |
| Basic Materials UltraSector ProFund | | | 121,000 | | | | 293,000 | | | | 268,000 | | | | 348,000 | | | | 105,000 | |
| Bear ProFund | | | 1,529,000 | | | | 3,671,000 | | | | 3,364,000 | | | | 4,368,000 | | | | 1,232,000 | |
| Biotechnology UltraSector ProFund | | | 4,452,000 | | | | 10,689,000 | | | | 9,798,000 | | | | 12,718,000 | | | | 3,572,000 | |
| Bull ProFund | | | 2,337,000 | | | | 5,612,000 | | | | 5,145,000 | | | | 6,679,000 | | | | 1,878,000 | |
| Communication Services UltraSector ProFund | | | 206,000 | | | | 497,000 | | | | 455,000 | | | | 592,000 | | | | 171,000 | |
| Consumer Goods UltraSector ProFund | | | 214,000 | | | | 517,000 | | | | 473,000 | | | | 615,000 | | | | 177,000 | |
| Consumer Services UltraSector ProFund | | | 1,159,000 | | | | 2,784,000 | | | | 2,552,000 | | | | 3,314,000 | | | | 936,000 | |
266 :: Notes to Financial Statements ::January 31, 2020 (unaudited)
| Fund Name | | Canadian
Imperial Bank of
Commerce,
1.42%,
dated 1/31/20,
due 2/3/20(1) | | | HSBC Securities
(USA), Inc.,
1.47%,
dated 1/31/20,
due 2/3/20(2) | | | RBC Capital
Markets, LLC,
1.44%,
dated 1/31/20,
due 2/3/20(3) | | | Societe
Generale,
1.51%,
dated 1/31/20,
due 2/3/20(4) | | | UMB Bank, N.A.,
1.32%,
dated 1/31/20,
due 2/3/20(5) | |
| Europe 30 ProFund | | $ | 2,000 | | | $ | 5,000 | | | $ | 4,000 | | | $ | 6,000 | | | $ | 4,000 | |
| Falling U.S. Dollar ProFund | | | 119,000 | | | | 286,000 | | | | 263,000 | | | | 341,000 | | | | 101,000 | |
| Financials UltraSector ProFund | | | 345,000 | | | | 832,000 | | | | 762,000 | | | | 990,000 | | | | 286,000 | |
| Health Care UltraSector ProFund | | | 1,459,000 | | | | 3,506,000 | | | | 3,214,000 | | | | 4,172,000 | | | | 1,180,000 | |
| Industrials UltraSector ProFund | | | 275,000 | | | | 661,000 | | | | 606,000 | | | | 789,000 | | | | 228,000 | |
| Internet UltraSector ProFund | | | 4,159,000 | | | | 9,986,000 | | | | 9,154,000 | | | | 11,884,000 | | | | 3,338,000 | |
| Large-Cap Growth ProFund | | | 2,000 | | | | 5,000 | | | | 5,000 | | | | 7,000 | | | | 4,000 | |
| Large-Cap Value ProFund | | | 5,000 | | | | 14,000 | | | | 13,000 | | | | 16,000 | | | | 7,000 | |
| Mid-Cap ProFund | | | 345,000 | | | | 829,000 | | | | 761,000 | | | | 988,000 | | | | 281,000 | |
| Mid-Cap Growth ProFund | | | — | | | | — | | | | — | | | | — | | | | 1,000 | |
| Nasdaq-100 ProFund | | | 3,513,000 | | | | 8,434,000 | | | | 7,731,000 | | | | 10,036,000 | | | | 2,818,000 | |
| Oil & Gas UltraSector ProFund | | | 336,000 | | | | 807,000 | | | | 741,000 | | | | 962,000 | | | | 277,000 | |
| Oil Equipment & Services UltraSector ProFund | | | 127,000 | | | | 306,000 | | | | 280,000 | | | | 364,000 | | | | 108,000 | |
| Pharmaceuticals UltraSector ProFund | | | 98,000 | | | | 238,000 | | | | 219,000 | | | | 285,000 | | | | 86,000 | |
| Precious Metals UltraSector ProFund | | | 880,000 | | | | 2,115,000 | | | | 1,938,000 | | | | 2,518,000 | | | | 712,000 | |
| Real Estate UltraSector ProFund | | | 790,000 | | | | 1,897,000 | | | | 1,739,000 | | | | 2,258,000 | | | | 637,000 | |
| Rising Rates Opportunity ProFund | | | 1,531,000 | | | | 3,677,000 | | | | 3,370,000 | | | | 4,375,000 | | | | 1,233,000 | |
| Rising Rates Opportunity 10 ProFund | | | 327,000 | | | | 788,000 | | | | 723,000 | | | | 938,000 | | | | 270,000 | |
| Rising U.S. Dollar ProFund | | | 918,000 | | | | 2,204,000 | | | | 2,019,000 | | | | 2,623,000 | | | | 741,000 | |
| Semiconductor UltraSector ProFund | | | 6,750,000 | | | | 16,202,000 | | | | 14,851,000 | | | | 19,280,000 | | | | 5,410,000 | |
| Short Nasdaq-100 ProFund | | | 510,000 | | | | 1,226,000 | | | | 1,123,000 | | | | 1,459,000 | | | | 416,000 | |
| Short Oil & Gas ProFund | | | 216,000 | | | | 523,000 | | | | 478,000 | | | | 622,000 | | | | 180,000 | |
| Short Precious Metals ProFund | | | 149,000 | | | | 360,000 | | | | 331,000 | | | | 429,000 | | | | 125,000 | |
| Short Real Estate ProFund | | | 86,000 | | | | 207,000 | | | | 190,000 | | | | 247,000 | | | | 75,000 | |
| Short Small-Cap ProFund | | | 233,000 | | | | 562,000 | | | | 515,000 | | | | 670,000 | | | | 198,000 | |
| Small-Cap ProFund | | | 180,000 | | | | 434,000 | | | | 398,000 | | | | 517,000 | | | | 151,000 | |
| Small-Cap Growth ProFund | | | 3,000 | | | | 8,000 | | | | 7,000 | | | | 9,000 | | | | 5,000 | |
| Technology UltraSector ProFund | | | 2,702,000 | | | | 6,487,000 | | | | 5,947,000 | | | | 7,720,000 | | | | 2,172,000 | |
| Telecommunications UltraSector ProFund | | | 32,000 | | | | 79,000 | | | | 73,000 | | | | 94,000 | | | | 34,000 | |
| U.S. Government Plus ProFund | | | 2,636,000 | | | | 6,327,000 | | | | 5,799,000 | | | | 7,530,000 | | | | 2,118,000 | |
| UltraBear ProFund | | | 988,000 | | | | 2,374,000 | | | | 2,176,000 | | | | 2,826,000 | | | | 799,000 | |
| UltraBull ProFund | | | 6,134,000 | | | | 14,724,000 | | | | 13,497,000 | | | | 17,522,000 | | | | 4,917,000 | |
| UltraChina ProFund | | | 421,000 | | | | 1,013,000 | | | | 929,000 | | | | 1,206,000 | | | | 345,000 | |
| UltraDow 30 ProFund | | | 902,000 | | | | 2,170,000 | | | | 1,989,000 | | | | 2,581,000 | | | | 731,000 | |
| UltraEmerging Markets ProFund | | | 172,000 | | | | 415,000 | | | | 380,000 | | | | 493,000 | | | | 144,000 | |
| UltraInternational ProFund | | | 285,000 | | | | 686,000 | | | | 629,000 | | | | 817,000 | | | | 233,000 | |
| UltraJapan ProFund | | | 1,353,000 | | | | 3,248,000 | | | | 2,977,000 | | | | 3,865,000 | | | | 1,086,000 | |
| UltraLatin America ProFund | | | 345,000 | | | | 832,000 | | | | 762,000 | | | | 989,000 | | | | 284,000 | |
| UltraMid-Cap ProFund | | | 2,139,000 | | | | 5,138,000 | | | | 4,708,000 | | | | 6,113,000 | | | | 1,723,000 | |
| UltraNasdaq-100 ProFund | | | 26,213,000 | | | | 62,914,000 | | | | 57,671,000 | | | | 74,868,000 | | | | 20,996,000 | |
| UltraShort China ProFund | | | 796,000 | | | | 1,911,000 | | | | 1,751,000 | | | | 2,275,000 | | | | 642,000 | |
| UltraShort Dow 30 ProFund | | | 435,000 | | | | 1,045,000 | | | | 957,000 | | | | 1,243,000 | | | | 353,000 | |
| UltraShort Emerging Markets ProFund | | | 312,000 | | | | 750,000 | | | | 687,000 | | | | 893,000 | | | | 258,000 | |
| UltraShort International ProFund | | | 288,000 | | | | 694,000 | | | | 636,000 | | | | 825,000 | | | | 238,000 | |
| UltraShort Japan ProFund | | | 100,000 | | | | 240,000 | | | | 220,000 | | | | 286,000 | | | | 83,000 | |
| UltraShort Latin America ProFund | | | 433,000 | | | | 1,041,000 | | | | 954,000 | | | | 1,238,000 | | | | 352,000 | |
| UltraShort Mid-Cap ProFund | | | 142,000 | | | | 344,000 | | | | 315,000 | | | | 409,000 | | | | 121,000 | |
| UltraShort Nasdaq-100 ProFund | | | 1,556,000 | | | | 3,737,000 | | | | 3,425,000 | | | | 4,448,000 | | | | 1,257,000 | |
| UltraShort Small-Cap ProFund | | | 615,000 | | | | 1,479,000 | | | | 1,354,000 | | | | 1,759,000 | | | | 501,000 | |
| UltraSmall-Cap ProFund | | | 2,016,000 | | | | 4,844,000 | | | | 4,440,000 | | | | 5,764,000 | | | | 1,625,000 | |
| Utilities UltraSector ProFund | | | 1,161,000 | | | | 2,789,000 | | | | 2,556,000 | | | | 3,319,000 | | | | 936,000 | |
| | | $ | 85,913,000 | | | $ | 206,324,000 | | | $ | 189,118,000 | | | $ | 245,535,000 | | | $ | 69,188,000 | |
Each repurchase agreement was fully collateralized by U.S. government and/or agency securities as of January 31, 2020 as follows:
| (1) | U.S. Treasury Notes, 2.625%, due 12/31/23, total value $87,639,899. |
| (2) | U.S. Treasury Separate Trading of Registered Interest and Principal of Securities (STRIPS), effective yield or interest rate in effect at January 31, 2020, 2.031%, due 8/15/47, total value $210,455,153. |
| (3) | U.S. Treasury Inflation-Protected Securities (TIPS), 0.125%, due 1/15/22, total value $192,910,076. |
| (4) | U.S. Treasury Inflation-Protected Securities (TIPS), 0.125%, due 4/15/20, total value $250,454,542. |
| (5) | U.S. Treasury Notes, 1.25% to 1.75%, due 2/29/20 to 6/15/22, Federal Farm Credit Banks, 2.61%, due 2/27/24, Federal Home Loan Banks, 3.375%, due 12/8/23, which had an aggregate value of $70,627,116. |
January 31, 2020 (unaudited):: Notes to Financial Statements :: 267
Depositary Receipts
Each ProFund may invest in American Depositary Receipts ("ADRs"), New York Shares ("NYSs") and Global Depositary Receipts ("GDRs"). ADRs represent the right to receive securities of foreign issuers deposited in a bank or corresponding bank. ADRs are an alternative to purchasing the underlying securities in their national markets and currencies. For many foreign securities, U.S. dollar-denominated ADRs, which are traded in the United States on exchanges or over-the-counter ("OTC"), are issued by domestic banks. NYSs (or "direct shares") are foreign stocks denominated in U.S. dollars that trade on American exchanges without being converted to ADRs. GDRs are receipts for shares in a foreign-based corporation traded in capital markets around the world.
The ProFunds may invest in both sponsored and unsponsored depositary receipts. Certain depositary receipts, typically those designated as "unsponsored", require the holders thereof to bear most of the costs of such facilities, while issuers of "sponsored" facilities normally pay more of the cost thereof. The depositary of an unsponsored facility frequently is under no obligation to distribute shareholder communications received from the issuer of the deposited securities or to pass through the voting rights to facility holders with respect to the deposited securities, whereas the depository of a sponsored facility typically distributes shareholder communications and passes through the voting rights.
Real Estate Investment Trusts
Each ProFund (other than Rising Rates Opportunity ProFund, Rising Rates Opportunity 10 ProFund, and U.S. Government Plus ProFund) may invest in real estate investment trusts ("REITs") which report information on the source of their distributions annually. Equity REITs invest primarily in real property while mortgage REITs invest in constructions, development and long-term mortgage loans. Their value may be affected by changes in the value of the underlying property of the REITs, the creditworthiness of the issuer, property taxes, interest rates, and tax regulatory requirements, such as those relating to the environment. REITs are dependent upon management skill, are not diversified and are subject to heavy cash flow dependency, default by borrowers, self-liquidation, the possibility of failing to qualify for tax-free pass-through of income under the Internal Revenue Code of 1986, as amended, and the possibility of failing to maintain exempt status under the 1940 Act. Certain distributions received from REITs during the year are recorded as realized gains or return of capital when such information becomes known.
Derivative Instruments
In seeking to achieve each ProFund's investment objective, the Advisor uses a mathematical approach to investing. Using this approach, the Advisor determines the type, quantity and mix of investment positions, including derivative instruments such as futures contracts, forward currency contracts and swap agreements, that a ProFund should hold to approximate the daily performance, inverse performance, or multiple thereof, as applicable, of its benchmark. All derivative instruments held during the period ended January 31, 2020, were utilized to gain exposure or inverse exposure to each ProFund's benchmark (e.g., index, etc.) to meet its investment objective.
Each ProFund, other than the Classic ProFunds and the Falling U.S. Dollar ProFund, does not seek to achieve its investment objective over a period of time greater than a single day.
All open derivative positions at period end are reflected on each respective ProFund's Schedule of Portfolio Investments. The volume associated with derivative positions varies on a daily basis as each ProFund transacts in derivative contracts in order to achieve the appropriate exposure, as expressed in notional amount (contract value for forward currency contracts), in comparison to net assets consistent with each ProFund's investment objective.
Certain ProFunds utilized a varying level of derivative instruments in conjunction with the investment securities to meet their investment objective during the period ended January 31, 2020. With the exception of the ProFunds listed below, the notional amount of open derivative positions relative to each ProFund's net assets at period end is generally representative of the notional amount of open positions to net assets throughout the period. The volume associated with derivative positions in the U.S. Government Plus ProFund was 76%, based on average monthly notional amounts in comparison to net assets during the period ended January 31, 2020.
In connection with its management of certain series of the Trust included in this report (UltraBear ProFund, UltraJapan ProFund, UltraShort Dow 30 ProFund, UltraShort Japan ProFund, UltraShort Mid-Cap ProFund, UltraShort Nasdaq-100 ProFund and UltraShort Small-Cap ProFund) (the "Commodity Pools")), the Advisor has registered as a commodity pool operator (a "CPO") and the Commodity Pools are commodity pools under the Commodity Exchange Act (the "CEA"). The Advisor also registered as a commodity trading advisor (a "CTA") under the CEA as a result of its role as subadvisor to funds outside the Trust. Accordingly, the Advisor is subject to registration and regulation as a CPO and CTA under the CEA, and must comply with various regulatory requirements under the CEA and the rules and regulations of the Commodity Futures Trading Commission ("CFTC") and the National Futures Association ("NFA"), including investor protection requirements, antifraud provisions, disclosure requirements and reporting and recordkeeping requirements. The Advisor is also subject to periodic inspections and audits by the CFTC and NFA. Compliance with these regulatory requirements could adversely affect the Commodity Pools' total return. In this regard, any further amendment to the CEA or its related regulations that subject the Advisor or the Commodity Pools to additional regulation may have adverse impacts on the Commodity Pools' operations and expenses.
The following is a description of the derivative instruments utilized by the ProFunds, including certain risks related to each instrument type.
Futures Contracts
Each ProFund may purchase or sell futures contracts as a substitute for a comparable market position in the underlying securities or to satisfy regulatory requirements. A cash-settled futures contract obligates the seller to deliver (and the purchaser to accept) an amount of cash equal to a specific dollar amount (the contract multiplier) multiplied by the difference between the final settlement price of a specific futures contract and the price at
268 :: Notes to Financial Statements ::January 31, 2020 (unaudited)
which the agreement is made. No physical delivery of the underlying asset is made.
Each ProFund generally engages in closing or offsetting transactions before final settlement of a futures contract, wherein a second identical futures contract is sold to offset a long position (or bought to offset a short position). In such cases, the obligation is to deliver (or take delivery of) cash equal to a specific dollar amount (the contract multiplier) multiplied by the difference between the price of the offsetting transaction and the price at which the original contract was entered into. If the original position entered into is a long position (futures contract purchased), there will be a gain (loss) if the offsetting sell transaction is carried out at a higher (lower) price, inclusive of commissions. If the original position entered into is a short position (futures contract sold), there will be a gain (loss) if the offsetting buy transaction is carried out at a lower (higher) price, inclusive of commissions.
Whether a ProFund realizes a gain or loss from futures activities depends generally upon movements in the underlying currency, commodity, security or index. The extent of a ProFund's loss from an unhedged short position in futures contracts is potentially unlimited and investors may lose the amount that they invest plus any profits recognized on that investment. Each ProFund will engage in transactions in futures contracts that are traded on a U.S. exchange or board of trade or that have been approved for sale in the U.S. by the CFTC.
Upon entering into a futures contract, each ProFund will be required to deposit with the broker an amount of cash or cash equivalents in the range of approximately 5% to 10% of the contract amount for equity index futures and in the range of approximately 1% to 3% of the contract amount for treasury futures (this amount is subject to change by the exchange on which the contract is traded). This amount, known as "initial margin," is in the nature of a performance bond or good faith deposit on the contract and is returned to the ProFund upon termination of the futures contract, assuming all contractual obligations have been satisfied. Subsequent payments, known as "variation margin," to and from the broker will be made daily as the price of the asset underlying the futures contract fluctuates, making the long and short positions in the futures contract more or less valuable, a process known as "marking-to-market." At any time prior to expiration of a futures contract, a ProFund may elect to close its position by taking an opposite position, which will operate to terminate the ProFund's existing position in the contract.
The primary risks associated with the use of futures contracts are imperfect correlation between movements in the price of futures and the market value of the underlying assets, and the possibility of an illiquid market for a futures contract. Although each ProFund intends to sell futures contracts only if there is an active market for such contracts, no assurance can be given that a liquid market will exist for any particular contract at any particular time. Many futures exchanges and boards of trade limit the amount of fluctuation permitted in futures contract prices during a single trading day. Once the daily limit has been reached in a particular contract, no trades may be made that day at a price beyond that limit or trading may be suspended for specified periods during the day. Futures contract prices could move to the limit for several consecutive trading days with little or no trading, thereby preventing prompt liquidation of futures positions and potentially subjecting a ProFund to substantial losses. If trading is not possible, or if a ProFund determines not to close a futures position in anticipation of adverse price movements, the ProFund will be required to make daily cash payments of variation margin. The risk that the ProFund will be unable to close out a futures position will be minimized by entering into such transactions on a national exchange with an active and liquid secondary market. In addition, although the counterparty to a futures contract is often a clearing organization, backed by a group of financial institutions, there may be instances in which the counterparty could fail to perform its obligations, causing significant losses to a ProFund.
Forward Currency Contracts
The Falling U.S. Dollar and Rising U.S. Dollar ProFunds may invest in forward currency contracts for investment or risk management purposes. A forward currency contract is an obligation to buy or sell a specific currency at a future date, which may be any fixed number of days from the date of the contract agreed upon by the parties, at a price set at the time of the contract. These contracts are entered into on the interbank market conducted directly between currency traders (usually large commercial banks) and their customers.
It is possible that, under certain circumstances, these ProFunds may have to limit their currency transactions to qualify as a "regulated investment company" ("RIC") under the Internal Revenue Code. The Falling U.S. Dollar and Rising U.S. Dollar ProFunds do not intend to enter into a forward currency contract with a term of more than one year, or to engage in position hedging with respect to the currency of a particular country to more than the aggregate market value (at the time the hedging transaction is entered into) of their portfolio securities denominated in (or quoted in or currently convertible into or directly related through the use of forward currency contracts in conjunction with money market instruments to) that particular currency.
At or before the maturity of a forward currency contract, the Falling U.S. Dollar and Rising U.S. Dollar ProFunds may either sell a portfolio security and make delivery of the currency, or retain the security and terminate its contractual obligation to deliver the currency by buying an "offsetting" contract obligating them to buy, on the same maturity date, the same amount of the currency. If one of these ProFunds engages in an offsetting transaction, it may later enter into a new forward currency contract to sell the currency.
If the Falling U.S. Dollar and Rising U.S. Dollar ProFunds engage in offsetting transactions, they will incur a gain or loss, to the extent that there has been movement in forward currency contract prices. If forward prices go down during the period between the date the Falling U.S. Dollar and Rising U.S. Dollar ProFunds enters into a forward currency contract for the sale of a currency and the date it enters into an offsetting contract for the purchase of the currency, the ProFund will realize a gain to the extent that the price of ProFund currency it has agreed to sell exceeds the price of the currency it has agreed to buy. If forward prices go up, the ProFund will suffer a loss to the extent the price of the currency it has agreed to buy exceeds the price of the currency it has agreed to sell.
The Falling U.S. Dollar and Rising U.S. Dollar ProFunds collateralize forward currency contracts with cash and certain securities as indicated on the Schedules of Portfolio Investments. Such collateral is held for the benefit of the counterparty in a segregated tri-party
January 31, 2020 (unaudited):: Notes to Financial Statements :: 269
account at the custodian, to protect the counterparty against non-payment by the respective ProFund. Similarly, the ProFunds have sought to mitigate credit risk by generally requiring that the counterparties to the ProFund post collateral for the benefit of the ProFund in a segregated account at the custodian, marked to market daily, in an amount equal to what the counterparty owes the ProFund, subject to certain minimum thresholds. In the event of a default by the counterparty, each ProFund will seek withdrawal of this collateral from the segregated account and may incur certain costs exercising its right with respect to the collateral. If a counterparty becomes bankrupt or fails to perform its obligations, the Falling U.S. Dollar and Rising U.S. Dollar ProFund may experience significant delays in obtaining any recovery in a bankruptcy or other reorganization proceeding. The ProFunds may obtain only limited recovery or may obtain no recovery in such circumstances. The Falling U.S. Dollar and Rising U.S. Dollar ProFunds will enter into forward currency contracts only with financial institutions that meet the credit quality standards and monitoring policies established by the Advisor. As of January 31, 2020, there was no collateral posted by counterparties.
Swap Agreements
Each ProFund may enter into swap agreements to gain exposure to an underlying asset without actually purchasing such asset (or shorting such asset), or to hedge a position, including in circumstances in which direct investment is restricted for legal reasons or is otherwise impracticable. Swap agreements are two-party contracts entered into primarily by institutional investors for periods ranging from a day to more than one year. In a standard "swap" transaction, two parties agree to exchange the return (or differentials in rates of return) earned or realized on particular pre-determined investments or instruments. The gross return to be exchanged or "swapped" between the parties is calculated with respect to a "notional amount," e.g., the return on or increase in value of a particular dollar amount invested in a "basket" of securities or an ETF representing a particular index or group of securities.
On a typical long swap, the counterparty will generally agree to pay the ProFund the amount, if any, by which the notional amount of the swap agreement would have increased in value had it been invested in the particular underlying assets (e.g., securities comprising the relevant benchmark index), plus the dividends or interest that would have been received on those assets. The ProFund will agree to pay to the counterparty a floating rate of interest on the notional amount of the swap agreement plus the amount, if any, by which the notional amount would have decreased in value had it been invested in such assets plus, in certain circumstances, commissions or trading spreads on the notional amount. Therefore, the return to the ProFund on any swap agreement should be the gain or loss on the notional amount plus dividends or interest on the assets less the interest paid by the ProFund on the notional amount. As a trading technique, the Advisor may substitute physical securities with a swap agreement having investment characteristics substantially similar to the underlying securities. Some ProFunds may also enter into swap agreements that provide the opposite return of their benchmark or security ("short" the benchmark or security). Their operations are similar to that of the swaps disclosed above except that the counterparty pays interest to each ProFund on the notional amount outstanding and that dividends or interest on the underlying instruments reduce the value of the swap, plus, in certain instances, each ProFund will agree to pay to the counterparty commissions or trading spreads on the notional amount.
Most swap agreements entered into by a ProFund calculate and settle the obligations of the parties to the agreement on a "net basis" with a single payment. Consequently, a ProFund's current obligations (or rights) under a swap agreement will generally be equal only to the net amount to be paid or received under the agreement based on the relative values of the positions held by each party to the agreement (the "net amount"). When investing in index swap agreements, the ProFunds may hold or gain exposure to only a representative sample of securities in the index, or to a component of the index.
A ProFund's current obligations under a swap agreement, will be accrued daily (offset against any amounts owed to the ProFund) and any accrued but unpaid net amounts owed to a swap counterparty will be covered by segregating or earmarking cash and/or securities determined to be liquid, but typically no payments will be made until the settlement date. Each ProFund reserves the right to modify its asset segregation policies in the future, including modifications to comply with any changes in the positions articulated by the SEC or its staff regarding asset segregation. Swap agreements that cannot be terminated of in the ordinary course of business within seven days at approximately the amount a ProFund has valued the asset may be considered to be illiquid for purposes of a ProFund's illiquid investment limitations.
A ProFund bears the risk of loss of the amount expected to be received under a swap agreement in the event of the default or bankruptcy of a swap agreement counterparty. If such a default occurs, a ProFund will have contractual remedies pursuant to the swap agreements, but such remedies may be subject to bankruptcy and insolvency laws that could affect the ProFund's rights as a creditor. A ProFund will only enter into swap agreements with counterparties that meet the ProFund's standard of creditworthiness (generally, such counterparties would have to be eligible counterparties under the terms of the ProFund's repurchase agreement guidelines). The counterparty to an uncleared swap agreement will typically be a major, global financial institution.
Payments may be made at the conclusion of a swap agreement. Swap agreements do not involve the delivery of securities or other underlying assets. Accordingly, the risk of loss with respect to swap agreements is limited to the net amount of payments that a ProFund is contractually obligated to make. If the other party to a swap agreement defaults, a ProFund's risk of loss consists of the net amount of payments that such ProFund is contractually entitled to receive, if any. The net amount of the excess, if any, of a ProFund's obligations over its entitlements with respect to each swap will be accrued on a daily basis and an amount of cash or liquid assets, having an aggregate NAV at least equal to such accrued excess will be earmarked or segregated by a ProFund's custodian.
In the normal course of business, a ProFund enters into International Swap Dealers Association, Inc. ("ISDA") agreements with certain counterparties for derivative transactions. These agreements contain, among other conditions, events of default and termination events, and various covenants and representations. Certain of the ProFund's ISDA agreements contain provisions that require the ProFund to maintain a pre-determined level of net
270 :: Notes to Financial Statements ::January 31, 2020 (unaudited)
assets, and/or provide limits regarding the decline of the ProFund's NAV over specific periods of time, which may or may not be exclusive of redemptions. If the ProFund were to trigger such provisions and have open derivative positions, at that time counterparties to the ISDA agreements could elect to terminate such ISDA agreements and request immediate payment in an amount equal to the net liability positions, if any, under the relevant ISDA agreement. Pursuant to the terms of its ISDA agreements, the ProFund will have already collateralized its liability under such agreements, in some cases only in excess of certain threshold amounts. Such collateral is held for the benefit of the counterparty in a segregated tri-party account at the custodian, to protect the counterparty against non-payment by the respective ProFund. The ProFunds seek to mitigate risks by generally requiring that the counterparties for each ProFund agree to post collateral for the benefit of the ProFund, marked to market daily, in an amount approximately equal to what the counterparty owes the ProFund, subject to certain minimum thresholds, although the ProFunds may not always be successful. To the extent any such collateral is insufficient or there are delays in accessing the collateral, the ProFunds will be exposed to the risks described above, including possible delays in recovering amounts as a result of bankruptcy proceedings. As of January 31, 2020, the collateral posted by counterparties consisted of U.S. Treasury securities and cash.
The use of swaps is a highly specialized activity which involves investment techniques and risks in addition to and in some cases different from those associated with ordinary portfolio securities transactions. The primary risks associated with the use of swap agreements are mispricing or improper valuation, imperfect correlation between movements in the notional amount and the price of the underlying investments, and the inability of the counterparties to perform. If a counterparty's creditworthiness for an over-the-counter swap declines, the value of the swap would likely decline. The Advisor, under the supervision of the Trust's Board of Trustees, is responsible for determining and monitoring the liquidity of a ProFund's transactions in swap agreements.
Offsetting Assets and Liabilities
The ProFunds are subject to master netting agreements for swap agreements and forward currency contracts that allow for amounts owed between the ProFund and the counterparty to be netted upon early termination. The party that has the larger payable pays the excess of the larger amount over the smaller amount to the other party. The master netting agreements do not apply to amounts owed to/from different counterparties.
As described above, the ProFunds utilize derivative instruments to achieve their investment objective during the period. The amounts shown in the Statements of Assets and Liabilities generally do not take into consideration the effects of legally enforceable master netting agreements.
Summary of Derivative Instruments
The following table summarizes the fair values of derivative instruments on the ProFund's Statement of Assets and Liabilities, categorized by risk exposure, as of January 31, 2020.
| | | Assets | | | Liabilities | |
| Fund | | Variation
Margin on
Futures
Contracts* | | | Unrealized
Appreciation
on Swap
Agreements | | | Unrealized
Appreciation
on Forward
Currency
Contracts | | | Variation
Margin on
Futures
Contracts* | | | Unrealized
Depreciation
on Swap
Agreements | | | Unrealized
Depreciation
on Forward
Currency
Contracts | |
| Equity Risk Exposure: | | | | | | | | | | | | | | | | | | | | | | | | |
| Banks UltraSector ProFund | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 656,622 | | | $ | — | |
| Basic Materials UltraSector ProFund | | | — | | | | — | | | | — | | | | — | | | | 137,832 | | | | — | |
| Bear ProFund | | | — | | | | 67,217 | | | | — | | | | 18,089 | | | | — | | | | — | |
| Biotechnology UltraSector ProFund | | | — | | | | — | | | | — | | | | — | | | | 6,927,510 | | | | — | |
| Bull ProFund | | | 151,829 | | | | — | | | | — | | | | — | | | | 57,753 | | | | — | |
| Communication Services UltraSector ProFund | | | — | | | | — | | | | — | | | | — | | | | 268,731 | | | | — | |
| Consumer Goods UltraSector ProFund | | | — | | | | — | | | | — | | | | — | | | | 110,647 | | | | — | |
| Consumer Services UltraSector ProFund | | | — | | | | — | | | | — | | | | — | | | | 605,877 | | | | — | |
| Financials UltraSector ProFund | | | — | | | | — | | | | — | | | | — | | | | 251,896 | | | | — | |
| Health Care UltraSector ProFund | | | — | | | | — | | | | — | | | | — | | | | 1,498,497 | | | | — | |
| Industrials UltraSector ProFund | | | — | | | | — | | | | — | | | | — | | | | 280,107 | | | | — | |
| Internet UltraSector ProFund | | | — | | | | — | | | | — | | | | — | | | | 3,993,962 | | | | — | |
| Mid-Cap ProFund | | | — | | | | — | | | | — | | | | 20,920 | | | | 28,961 | | | | — | |
| Nasdaq-100 ProFund | | | 736,496 | | | | 53,538 | | | | — | | | | — | | | | 2,347 | | | | — | |
| Oil & Gas UltraSector ProFund | | | — | | | | — | | | | — | | | | — | | | | 600,657 | | | | — | |
| Oil Equipment & Services UltraSector ProFund | | | — | | | | — | | | | — | | | | — | | | | 327,834 | | | | — | |
| Pharmaceuticals UltraSector ProFund | | | — | | | | — | | | | — | | | | — | | | | 106,187 | | | | — | |
| Precious Metals UltraSector ProFund | | | — | | | | 453,079 | | | | — | | | | — | | | | — | | | | — | |
| Real Estate UltraSector ProFund | | | — | | | | — | | | | — | | | | — | | | | 217,965 | | | | — | |
| Semiconductor UltraSector ProFund | | | — | | | | — | | | | — | | | | — | | | | 11,609,537 | | | | — | |
| Short Nasdaq-100 ProFund | | | — | | | | — | | | | — | | | | 40,370 | | | | 38,689 | | | | — | |
| Short Oil & Gas ProFund | | | — | | | | 157,959 | | | | — | | | | — | | | | — | | | | — | |
January 31, 2020 (unaudited):: Notes to Financial Statements :: 271
| | | Assets | | | Liabilities | |
| Fund | | Variation
Margin on
Futures
Contracts* | | | Unrealized
Appreciation
on Swap
Agreements | | | Unrealized
Appreciation
on Forward
Currency
Contracts | | | Variation
Margin on
Futures
Contracts* | | | Unrealized
Depreciation
on Swap
Agreements | | | Unrealized
Depreciation
on Forward
Currency
Contracts | |
| Short Precious Metals ProFund | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 73,935 | | | $ | — | |
| Short Real Estate ProFund | | | — | | | | 14,085 | | | | — | | | | — | | | | — | | | | — | |
| Short Small-Cap ProFund | | | 3,407 | | | | 38,013 | | | | — | | | | — | | | | — | | | | — | |
| Small-Cap ProFund | | | — | | | | 27,438 | | | | — | | | | 15,359 | | | | 15,353 | | | | — | |
| Technology UltraSector ProFund | | | — | | | | — | | | | — | | | | — | | | | 2,514,878 | | | | — | |
| Telecommunications UltraSector ProFund | | | — | | | | — | | | | — | | | | — | | | | 37,755 | | | | — | |
| UltraBear ProFund | | | — | | | | 81,761 | | | | — | | | | 18,089 | | | | — | | | | — | |
| UltraBull ProFund | | | 231,777 | | | | 86,410 | | | | — | | | | — | | | $ | 287,384 | | | | — | |
| UltraChina ProFund | | | — | | | | — | | | | — | | | | — | | | | 502,970 | | | | — | |
| UltraDow 30 ProFund | | | 9,395 | | | | — | | | | — | | | | — | | | | 398,235 | | | | — | |
| UltraEmerging Markets ProFund | | | — | | | | — | | | | — | | | | — | | | | 319,932 | | | | — | |
| UltraInternational ProFund | | | — | | | | — | | | | — | | | | — | | | | 35,817 | | | | — | |
| UltraJapan ProFund | | | — | | | | — | | | | — | | | | 853,044 | | | | 2,029 | | | | — | |
| UltraLatin America ProFund | | | — | | | | — | | | | — | | | | — | | | | 691,384 | | | | — | |
| UltraMid-Cap ProFund | | | — | | | | — | | | | — | | | | 324,287 | | | | 888,632 | | | | — | |
| UltraNasdaq-100 ProFund | | | 5,770,901 | | | | 3,462,937 | | | | — | | | | — | | | | — | | | | — | |
| UltraShort China ProFund | | | — | | | | 285,021 | | | | — | | | | — | | | | — | | | | — | |
| UltraShort Dow 30 ProFund | | | — | | | | 62,298 | | | | — | | | | 1,551 | | | | — | | | | — | |
| UltraShort Emerging Markets ProFund | | | — | | | | 119,923 | | | | — | | | | — | | | | — | | | | — | |
| UltraShort International ProFund | | | — | | | | 41,309 | | | | — | | | | — | | | | — | | | | — | |
| UltraShort Japan ProFund | | | 92,632 | | | | 2,026 | | | | — | | | | — | | | | — | | | | — | |
| UltraShort Latin America ProFund | | | — | | | | 149,147 | | | | — | | | | — | | | | — | | | | — | |
| UltraShort Mid-Cap ProFund | | | 3,483 | | | | 35,893 | | | | — | | | | — | | | | — | | | | — | |
| UltraShort Nasdaq-100 ProFund | | | — | | | | — | | | | — | | | | 100,925 | | | | 303,919 | | | | — | |
| UltraShort Small-Cap ProFund | | | 6,814 | | | | 205,336 | | | | — | | | | — | | | | — | | | | — | |
| UltraSmall-Cap ProFund | | | — | | | | — | | | | — | | | | 116,043 | | | | 916,840 | | | | — | |
| Utilities UltraSector ProFund | | | — | | | | 261,003 | | | | — | | | | — | | | | — | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | |
| Foreign Exchange Rate Risk Exposure: | | | | | | | | | | | | | | | | | | | | | | | | |
| Falling U.S. Dollar ProFund | | | — | | | | — | | | | 3,233 | | | | — | | | | — | | | | 8,357 | |
| Rising U.S. Dollar ProFund | | | — | | | | — | | | | 44,797 | | | | — | | | | — | | | | 13,805 | |
| | | | | | | | | | | | | | | | | | | | | | | | | |
| Interest Rate Risk Exposure: | | | | | | | | | | | | | | | | | | | | | | | | |
| Rising Rates Opportunity ProFund | | | — | | | | — | | | | — | | | | — | | | | 745,383 | | | | — | |
| Rising Rates Opportunity 10 ProFund | | | — | | | | — | | | | — | | | | — | | | | 74,245 | | | | — | |
| U.S. Government Plus ProFund | | | — | | | | 1,285,072 | | | | — | | | | — | | | | — | | | | — | |
| * | Includes cumulative appreciation/depreciation of futures contracts as reported in the Schedules of Portfolio Investments. Only current day's variation margin is reported within the Statements of Assets and Liabilities. |
The following table presents the effect of derivative instruments on the ProFund's Statement of Operations, categorized by risk exposure, for the period ended January 31, 2020.
| | | Realized Gain (Loss) on Derivatives
Recognized as a Result from Operations | | | Change in Net Unrealized Appreciation/
Depreciation on Derivatives
Recognized as a Result from Operations | |
| Fund | | Net
Realized
Gains (Losses)
on Futures
Contracts | | | Net
Realized
Gains (Losses)
on Swap
Agreements |
| | Net
Realized
Gains (Losses)
on Forward
Currency
Contracts | | | Change in
Net
Unrealized
Appreciation/
Depreciation
on Futures
Contracts | | | Change in
Net
Unrealized
Appreciation/
Depreciation
on Swap
Agreements | | | Change in
Net
Unrealized
Appreciation/
Depreciation
on Forward
Currency
Contracts | |
| Equity Risk Exposure: | | | | | | | | | | | | | | | | | | | | | | | | |
| Banks UltraSector ProFund | | $ | — | | | $ | 2,436,386 | | | $ | — | | | $ | — | | | $ | (715,627 | ) | | $ | — | |
| Basic Materials UltraSector ProFund | | | — | | | | (95,822 | ) | | | — | | | | — | | | | (28,089 | ) | | | — | |
| Bear ProFund | | | (185,952 | ) | | | (1,041,182 | ) | | | — | | | | 28,084 | | | | (168,324 | ) | | | — | |
| Biotechnology UltraSector ProFund | | | — | | | | 15,253,213 | | | | — | | | | — | | | | (6,463,453 | ) | | | — | |
| Bull ProFund | | | 935,505 | | | | 968,774 | | | | — | | | | (248,511 | ) | | | 145,258 | | | | — | |
| Communication Services UltraSector ProFund | | | — | | | | 602,432 | | | | — | | | | — | | | | (371,304 | ) | | | — | |
| Consumer Goods UltraSector ProFund | | | — | | | | 378,800 | | | | — | | | | — | | | | (76,881 | ) | | | — | |
| Consumer Services UltraSector ProFund | | | — | | | | (932,238 | ) | | | — | | | | — | | | | 728,463 | | | | — | |
272 :: Notes to Financial Statements ::January 31, 2020 (unaudited)
| | | Realized Gain (Loss) on Derivatives
Recognized as a Result from Operations | | | Change in Net Unrealized Appreciation/
Depreciation on Derivatives
Recognized as a Result from Operations | |
| | | Net | | | Net | | | Net
Realized | | | Change in
Net
Unrealized | | | Change in
Net
Unrealized | | | Change in
Net
Unrealized
Appreciation/ | |
| Fund | | Realized
Gains (Losses)
on Futures
Contracts | | | Realized
Gains (Losses)
on Swap
Agreements | | | Gains (Losses)
on Forward
Currency
Contracts | | | Appreciation/
Depreciation
on Futures
Contracts | | | Appreciation/
Depreciation
on Swap
Agreements | | | Depreciation
on Forward
Currency
Contracts | |
| Financials UltraSector ProFund | | $ | — | | | $ | 580,779 | | | $ | — | | | $ | — | | | $ | (243,359 | ) | | $ | — | |
| Health Care UltraSector ProFund | | | — | | | | 1,954,362 | | | | — | | | | — | | | | (1,395,656 | ) | | | — | |
| Industrials UltraSector ProFund | | | — | | | $ | 511,941 | | | | — | | | | — | | | | (223,191 | ) | | | — | |
| Internet UltraSector ProFund | | | — | | | | (3,143,545 | ) | | | — | | | | — | | | | (2,141,296 | ) | | | — | |
| Mid-Cap ProFund | | | 78,739 | | | | (94,071 | ) | | | — | | | | (57,568 | ) | | | (15,809 | ) | | | — | |
| Nasdaq-100 ProFund | | | 2,015,980 | | | | 3,045,069 | | | | — | | | | (340,277 | ) | | | 517,785 | | | | — | |
| Oil & Gas UltraSector ProFund | | | — | | | | (669,933 | ) | | | — | | | | — | | | | (494,805 | ) | | | — | |
| Oil Equipment & Services UltraSector ProFund | | | — | | | | (1,050,617 | ) | | | — | | | | — | | | | (305,268 | ) | | | — | |
| Pharmaceuticals UltraSector ProFund | | | — | | | | 376,760 | | | | — | | | | — | | | | (59,209 | ) | | | — | |
| Precious Metals UltraSector ProFund | | | — | | | | 1,333,514 | | | | — | | | | — | | | | 1,930,542 | | | | — | |
| Real Estate UltraSector ProFund | | | — | | | | 1,002,164 | | | | — | | | | — | | | | (331,124 | ) | | | — | |
| Semiconductor UltraSector ProFund | | | — | | | | 22,078,429 | | | | — | | | | — | | | | (10,551,343 | ) | | | — | |
| Short Nasdaq-100 ProFund | | | (84,183 | ) | | | (294,553 | ) | | | — | | | | 2,783 | | | | (127,680 | ) | | | — | |
| Short Oil & Gas ProFund | | | — | | | | (58,596 | ) | | | — | | | | — | | | | 133,913 | | | | — | |
| Short Precious Metals ProFund | | | — | | | | (1,035,416 | ) | | | — | | | | — | | | | (249,585 | ) | | | — | |
| Short Real Estate ProFund | | | — | | | | (90,413 | ) | | | — | | | | — | | | | 22,438 | | | | — | |
| Short Small-Cap ProFund | | | (27,814 | ) | | | (139,186 | ) | | | — | | | | 11,040 | ) | | | 41,521 | | | | — | |
| Small-Cap ProFund | | | (19,490 | ) | | | (31,489 | ) | | | — | | | | (94,040 | ) | | | 8,552 | | | | — | |
| Technology UltraSector ProFund | | | — | | | | 8,428,488 | | | | — | | | | — | | | | (2,041,593 | ) | | | — | |
| Telecommunications UltraSector ProFund | | | — | | | | 4,495 | | | | — | | | | — | | | | (28,312 | ) | | | — | |
| UltraBear ProFund | | | (147,389 | ) | | | (2,003,495 | ) | | | — | | | | (14,284 | ) | | | (133,572 | ) | | | — | |
| UltraBull ProFund | | | 968,031 | | | | 5,941,537 | | | | — | | | | (517,693 | ) | | | 2,147,342 | | | | — | |
| UltraChina ProFund | | | — | | | | 1,712,119 | | | | — | | | | — | | | | (57,175 | ) | | | — | |
| UltraDow 30 ProFund | | | 499,260 | | | | 1,047,274 | | | | — | | | | (260,420 | ) | | | 224,197 | | | | — | |
| UltraEmerging Markets ProFund | | | — | | | | 614,058 | | | | — | | | | — | | | | 26,744 | | | | — | |
| UltraInternational ProFund | | | — | | | | 479,703 | | | | — | | | | — | | | | 63,542 | | | | — | |
| UltraJapan ProFund | | | 3,547,665 | | | | 15,400 | | | | — | | | | (1,222,820 | ) | | | (806 | ) | | | — | |
| UltraLatin America ProFund | | | — | | | | (3,217,520 | ) | | | — | | | | — | | | | 337,042 | | | | — | |
| UltraMid-Cap ProFund | | | 1,112,757 | | | | 877,702 | | | | — | | | | (996,167 | ) | | | (518,753 | ) | | | — | |
| UltraNasdaq-100 ProFund | | | 10,497,221 | | | | 63,068,172 | | | | — | | | | 2,727,290 | | | | 15,342,213 | | | | — | |
| UltraShort China ProFund | | | — | | | | (206,708 | ) | | | — | | | | — | | | | 166,235 | | | | — | |
| UltraShort Dow 30 ProFund | | | (52,056 | ) | | | (404,043 | ) | | | — | | | | 4,578 | | | | (40,421 | ) | | | — | |
| UltraShort Emerging Markets ProFund | | | — | | | | (309,911 | ) | | | — | | | | — | | | | 15,176 | | | | — | |
| UltraShort International ProFund | | | — | | | | (247,992 | ) | | | — | | | | — | | | | (26,564 | ) | | | — | |
| UltraShort Japan ProFund | | | (334,513 | ) | | | (15,550 | ) | | | — | | | | 70,884 | | | | 804 | | | | — | |
| UltraShort Latin America ProFund | | | — | | | | 335,317 | | | | — | | | | — | | | | (100,957 | ) | | | — | |
| UltraShort Mid-Cap ProFund | | | (13,141 | ) | | | (185,611 | ) | | | — | | | | 9,601 | | | | 27,549 | | | | — | |
| UltraShort Nasdaq-100 ProFund | | | (128,539 | ) | | | (4,462,149 | ) | | | — | | | | (65,874 | ) | | | (778,640 | ) | | | — | |
| UltraShort Small-Cap ProFund | | | (89,854 | ) | | | (506,374 | ) | | | — | | | | 32,258 | | | | 247,067 | | | | — | |
| UltraSmall-Cap ProFund | | | (12,589 | ) | | | 2,295,739 | | | | — | | | | (148,857 | ) | | | (1,007,424 | ) | | | — | |
| Utilities UltraSector ProFund | | | — | | | | (175,352 | ) | | | — | | | | — | | | | 382,572 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | |
| Foreign Exchange Rate Risk Exposure: | | | | | | | | | | | | | | | | | | | | | | | | |
| Falling U.S. Dollar ProFund | | | — | | | | — | | | | 2,905 | | | | — | | | | — | | | | 13,513 | |
| Rising U.S. Dollar ProFund | | | — | | | | — | | | | 104,641 | | | | — | | | | — | | | | (160,639 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | |
| Interest Rate Risk Exposure: | | | | | | | | | | | | | | | | | | | | | | | | |
| Rising Rates Opportunity ProFund | | | — | | | | (3,129,328 | ) | | | — | | | | — | | | | (107,788 | ) | | | — | |
| Rising Rates Opportunity 10 ProFund | | | — | | | | (86,458 | ) | | | — | | | | — | | | | (54,980 | ) | | | — | |
| U.S. Government Plus ProFund | | | — | | | | 1,979,318 | | | | — | | | | — | | | | 1,001,856 | | | | — | |
Asset (Liability) amounts shown in the table below represent amounts owed to (by) the ProFunds for swap agreements and forward currency contracts as of January 31, 2020. These amounts may be collateralized by cash or financial instruments, segregated for the benefit of the ProFunds or the counterparties, depending on whether the related contracts are in an appreciated or depreciated position at period end. Amounts shown in the column labeled "Net Amount" represent the un-collateralized portions of these amounts at period
January 31, 2020 (unaudited):: Notes to Financial Statements :: 273
end. Any un-collateralized amounts are due to timing differences related to market movements or subject to certain minimum thresholds for collateral movement, as further described above.
| | | Gross Amounts Not Offset in the
Statement of Assets and Liabilities* | |
| | | Gross
Asset (Liability) as
presented in
the Statement of
Assets and Liabilities | | | Financial
Instruments
(Received)
Pledged** | | | Cash
Collateral
(Received)
Pledged** | | | Net Amount | |
| Banks UltraSector ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | $ | (252,787 | ) | | $ | 252,787 | | | $ | — | | | $ | — | |
| Swap Agreements – UBS AG | | | (403,835 | ) | | | 403,835 | | | | — | | | | — | |
| Basic Materials UltraSector ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | (73,791 | ) | | | 73,791 | | | | — | | | | — | |
| Swap Agreements – UBS AG | | | (64,041 | ) | | | 64,041 | | | | — | | | | — | |
| Bear ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | 24,261 | | | | — | | | | — | | | | 24,261 | |
| Swap Agreements – UBS AG | | | 42,956 | | | | — | | | | — | | | | 42,956 | |
| Biotechnology UltraSector ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | (3,259,283 | ) | | | 3,259,283 | | | | — | | | | — | |
| Swap Agreements – UBS AG | | | (3,668,227 | ) | | | 3,668,227 | | | | — | | | | — | |
| Bull ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | (24,613 | ) | | | 24,613 | | | | — | | | | — | |
| Swap Agreements – UBS AG | | | (33,140 | ) | | | 33,140 | | | | — | | | | — | |
| Communication Services UltraSector ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | (140,856 | ) | | | 140,856 | | | | — | | | | — | |
| Swap Agreements – UBS AG | | | (127,875 | ) | | | 127,875 | | | | — | | | | — | |
| Consumer Goods UltraSector ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | (63,981 | ) | | | 63,981 | | | | — | | | | — | |
| Swap Agreements – UBS AG | | | (46,666 | ) | | | 46,666 | | | | — | | | | — | |
| Consumer Services UltraSector ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | (298,707 | ) | | | 298,707 | | | | — | | | | — | |
| Swap Agreements – UBS AG | | | (307,170 | ) | | | 307,170 | | | | — | | | | — | |
| Falling U.S. Dollar ProFund | | | | | | | | | | | | | | | | |
| Forward Currency Contracts – Goldman Sachs International | | | | | | | | | | | | | | | | |
| Appreciation | | | 302 | | | | | | | | | | | | | |
| (Depreciation) | | | (1,302 | ) | | | | | | | | | | | | |
| Net (Depreciation) | | | (1,000 | ) | | | 1,000 | | | | — | | | | — | |
| Forward Currency Contracts – UBS AG | | | | | | | | | | | | | | | | |
| Appreciation | | | 2,391 | | | | | | | | | | | | | |
| (Depreciation) | | | (7,055 | ) | | | | | | | | | | | | |
| Net (Depreciation) | | | (4,124 | ) | | | 4,124 | | | | — | | | | — | |
| Financials UltraSector ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | (122,529 | ) | | | 122,529 | | | | — | | | | — | |
| Swap Agreements – UBS AG | | | (129,367 | ) | | | 129,367 | | | | — | | | | — | |
| Health Care UltraSector ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | (825,790 | ) | | | 825,790 | | | | — | | | | — | |
| Swap Agreements – UBS AG | | | (672,707 | ) | | | 672,707 | | | | — | | | | — | |
| Industrials UltraSector ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | (141,555 | ) | | | 141,555 | | | | — | | | | — | |
| Swap Agreements – UBS AG | | | (138,552 | ) | | | 138,552 | | | | — | | | | — | |
| Internet UltraSector ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | (1,977,713 | ) | | | 1,977,713 | | | | — | | | | — | |
| Swap Agreements – UBS AG | | | (2,016,249 | ) | | | 2,016,249 | | | | — | | | | — | |
| Mid-Cap ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | (16,347 | ) | | | 16,347 | | | | — | | | | — | |
| Swap Agreements – UBS AG | | | (12,614 | ) | | | 12,614 | | | | — | | | | — | |
| Nasdaq-100 ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | (2,347 | ) | | | 2,347 | | | | — | | | | — | |
| Swap Agreements – UBS AG | | | 53,538 | | | | (53,538 | ) | | | — | | | | — | |
| Oil & Gas UltraSector ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | (304,160 | ) | | | 304,160 | | | | — | | | | — | |
| Swap Agreements – UBS AG | | | (296,497 | ) | | | 296,497 | | | | — | | | | — | |
274 :: Notes to Financial Statements ::January 31, 2020 (unaudited)
| | | Gross Amounts Not Offset in the
Statement of Assets and Liabilities* | |
| | | Gross
Asset (Liability) as
presented in
the Statement of
Assets and Liabilities | | | Financial
Instruments
(Received)
Pledged** | | | Cash
Collateral
(Received)
Pledged** | | | Net Amount | |
| Oil Equipment & Services UltraSector ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | $ | (146,074 | ) | | $ | 146,074 | | | $ | — | | | $ | — | |
| Swap Agreements – UBS AG | | | (181,760 | ) | | | 181,760 | | | | — | | | | — | |
| Pharmaceuticals UltraSector ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | (52,830 | ) | | | 52,830 | | | | — | | | | — | |
| Swap Agreements – UBS AG | | | (53,357 | ) | | | 53,357 | | | | — | | | | — | |
| Precious Metals UltraSector ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | 189,473 | | | | (134,496 | ) | | | — | | | | 54,977 | |
| Swap Agreements – UBS AG | | | 263,606 | | | | — | | | | — | | | | 263,606 | |
| Real Estate UltraSector ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | (128,116 | ) | | | 128,116 | | | | — | | | | — | |
| Swap Agreements – UBS AG | | | (89,849 | ) | | | 89,849 | | | | — | | | | — | |
| Rising Rates Opportunity ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Citibank North America | | | (149,678 | ) | | | 149,678 | | | | — | | | | — | |
| Swap Agreements – Societe' Generale | | | (595,705 | ) | | | 550,000 | | | | — | | | | (49,705 | ) |
| Rising Rates Opportunity 10 ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Citibank North America | | | (36,178 | ) | | | 36,178 | | | | — | | | | — | |
| Swap Agreements – Societe' Generale | | | (38,067 | ) | | | 30,000 | | | | — | | | | (8,067 | ) |
| Rising U.S. Dollar ProFund | | | | | | | | | | | | | | | | |
| Forward Currency Contracts – Goldman Sachs International | | | | | | | | | | | | | | | | |
| Appreciation | | | 10,162 | | | | | | | | | | | | | |
| (Depreciation) | | | (3,136 | ) | | | | | | | | | | | | |
| Net Appreciation | | | 7,026 | | | | — | | | | — | | | | 7,026 | |
| Forward Currency Contracts – UBS AG | | | | | | | | | | | | | | | | |
| Appreciation | | | 34,635 | | | | | | | | | | | | | |
| (Depreciation) | | | (10,669 | ) | | | | | | | | | | | | |
| Net Appreciation | | | 23,966 | | | | — | | | | — | | | | 23,966 | |
| Semiconductor UltraSector ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | (5,958,097 | ) | | | 5,958,097 | | | | — | | | | — | |
| Swap Agreements – UBS AG | | | (5,651,440 | ) | | | 5,651,440 | | | | — | | | | — | |
| Short Nasdaq-100 ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | (34,448 | ) | | | 34,448 | | | | — | | | | — | |
| Swap Agreements – UBS AG | | | (4,241 | ) | | | 4,241 | | | | — | | | | — | |
| Short Oil & Gas ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | 102,140 | | | | (16,698 | ) | | | — | | | | 85,442 | |
| Swap Agreements – UBS AG | | | 55,819 | | | | — | | | | — | | | | 55,819 | |
| Short Precious Metals ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | (58,522 | ) | | | 58,522 | | | | — | | | | — | |
| Swap Agreements – UBS AG | | | (15,413 | ) | | | 15,413 | | | | — | | | | — | |
| Short Real Estate ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | 5,482 | | | | — | | | | — | | | | 5,482 | |
| Swap Agreements – UBS AG | | | 8,603 | | | | — | | | | — | | | | 8,603 | |
| Short Small-Cap ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | 26,270 | | | | — | | | | — | | | | 26,270 | |
| Swap Agreements – UBS AG | | | 11,743 | | | | — | | | | — | | | | 11,743 | |
| Small-Cap ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | 27,438 | | | | — | | | | — | | | | 27,438 | |
| Swap Agreements – UBS AG | | | (15,353 | ) | | | 15,353 | | | | — | | | | — | |
| Technology UltraSector ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | (1,302,423 | ) | | | 1,302,423 | | | | — | | | | — | |
| Swap Agreements – UBS AG | | | (1,212,455 | ) | | | 1,212,455 | | | | — | | | | — | |
| Telecommunications UltraSector ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | (18,805 | ) | | | 18,805 | | | | — | | | | — | |
| Swap Agreements – UBS AG | | | (18,950 | ) | | | 18,950 | | | | — | | | | — | |
| U.S. Government Plus ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Citibank North America | | | 1,219,763 | | | | — | | | | (840,000 | ) | | | 379,763 | |
| Swap Agreements – Societe' Generale | | | 65,309 | | | | — | | | | (53,518 | ) | | | 11,791 | |
January 31, 2020 (unaudited):: Notes to Financial Statements :: 275
| | | Gross Amounts Not Offset in the
Statement of Assets and Liabilities* | |
| | | Gross
Asset (Liability) as
presented in
the Statement of
Assets and Liabilities | | | Financial
Instruments
(Received)
Pledged** | | | Cash
Collateral
(Received)
Pledged** | | | Net Amount | |
| UltraBear ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | $ | 51,643 | | | $ | — | | | $ | — | | | $ | 51,643 | |
| Swap Agreements – UBS AG | | | 30,118 | | | | — | | | | — | | | | 30,118 | |
| UltraBull ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | (233,826 | ) | | | 233,826 | | | | — | | | | — | |
| Swap Agreements – UBS AG | | | 86,410 | | | | (86,410 | ) | | | — | | | | — | |
| Swap Agreements – UBS AG | | | (53,558 | ) | | | 53,558 | | | | — | | | | — | |
| UltraChina ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | (263,938 | ) | | | 250,000 | | | | — | | | | (13,938 | ) |
| Swap Agreements – UBS AG | | | (239,032 | ) | | | 239,032 | | | | — | | | | — | |
| UltraDow 30 ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | (191,802 | ) | | | 191,802 | | | | — | | | | — | |
| Swap Agreements – UBS AG | | | (206,433 | ) | | | 206,433 | | | | — | | | | — | |
| UltraEmerging Markets ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | (132,186 | ) | | | 132,186 | | | | — | | | | — | |
| Swap Agreements – UBS AG | | | (187,746 | ) | | | 187,746 | | | | — | | | | — | |
| UltraInternational ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | (24,601 | ) | | | 24,601 | | | | — | | | | — | |
| Swap Agreements – UBS AG | | | (11,216 | ) | | | 11,216 | | | | — | | | | — | |
| UltraJapan ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | (2,029 | ) | | | — | | | | — | | | | (2,029 | ) |
| UltraLatin America ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | (331,659 | ) | | | 331,659 | | | | — | | | | — | |
| Swap Agreements – UBS AG | | | (359,725 | ) | | | 359,725 | | | | — | | | | — | |
| UltraMid-Cap ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | (264,392 | ) | | | 264,392 | | | | — | | | | — | |
| Swap Agreements – UBS AG | | | (624,240 | ) | | | 624,240 | | | | — | | | | — | |
| UltraNasdaq-100 ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | 1,281,793 | | | | (1,281,793 | ) | | | — | | | | — | |
| Swap Agreements – UBS AG | | | 2,181,144 | | | | (2,181,144 | ) | | | — | | | | — | |
| UltraShort China ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | 144,015 | | | | — | | | | — | | | | 144,015 | |
| Swap Agreements – UBS AG | | | 141,006 | | | | — | | | | — | | | | 141,006 | |
| UltraShort Dow 30 ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | 16,396 | | | | — | | | | — | | | | 16,396 | |
| Swap Agreements – UBS AG | | | 45,902 | | | | — | | | | — | | | | 45,902 | |
| UltraShort Emerging Markets ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | 32,818 | | | | — | | | | — | | | | 32,818 | |
| Swap Agreements – UBS AG | | | 87,105 | | | | — | | | | — | | | | 87,105 | |
| UltraShort International ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | 12,931 | | | | — | | | | — | | | | 12,931 | |
| Swap Agreements – UBS AG | | | 28,378 | | | | — | | | | — | | | | 28,378 | |
| UltraShort Japan ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | 2,026 | | | | — | | | | — | | | | 2,026 | |
| UltraShort Latin America ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | 70,072 | | | | — | | | | — | | | | 70,072 | |
| Swap Agreements – UBS AG | | | 79,075 | | | | — | | | | — | | | | 79,075 | |
| UltraShort Mid-Cap ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | 17,435 | | | | — | | | | — | | | | 17,435 | |
| Swap Agreements – UBS AG | | | 18,458 | | | | — | | | | — | | | | 18,458 | |
| UltraShort Nasdaq-100 ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | (296,075 | ) | | | 296,075 | | | | — | | | | — | |
| Swap Agreements – UBS AG | | | (7,844 | ) | | | 7,844 | | | | — | | | | — | |
| UltraShort Small-Cap ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | 198,440 | | | | — | | | | — | | | | 198,440 | |
| Swap Agreements – UBS AG | | | 6,896 | | | | — | | | | — | | | | 6,896 | |
| UltraSmall-Cap ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | | (580,175 | ) | | | 580,175 | | | | — | | | | — | |
| Swap Agreements – UBS AG | | | (336,665 | ) | | | 336,665 | | | | — | | | | — | |
276 :: Notes to Financial Statements ::January 31, 2020 (unaudited)
| | | Gross Amounts Not Offset in the
Statement of Assets and Liabilities* | |
| | | Gross
Asset (Liability) as
presented in
the Statement of
Assets and Liabilities | | | Financial
Instruments
(Received)
Pledged** | | | Cash
Collateral
(Received)
Pledged** | | | Net Amount | |
| Utilities UltraSector ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements – Goldman Sachs International | | $ | 147,705 | | | $ | (147,705 | ) | | $ | — | | | $ | — | |
| Swap Agreements – UBS AG | | | 113,298 | | | | — | | | | — | | | | 113,298 | |
| * | The actual financial instruments and cash collateral (received) pledged may be in excess of the amounts shown in the table. The table only reflects collateral amounts up to the amount of the financial instrument disclosed on the Statement of Assets and Liabilities. |
| ** | Financial instruments received are not disclosed on the Statement of Assets and Liabilities because the Fund does not have effective control of the collateral. |
Securities Lending
Each ProFund may lend securities to brokers, dealers and financial organizations in exchange for initial collateral in the amount of at least 102% of the value of U.S. dollar-denominated securities loaned or at least 105% of the value of non-U.S. dollar-denominated securities loaned, marked to market daily. Each security loaned will be secured continuously by collateral in the form of cash, money market instruments or U.S. Government securities with a market value of at least 100% of the market value of the loaned securities. When a ProFund lends its securities, it continues to receive payments equal to the dividends and interest paid on the securities loaned and simultaneously may earn interest on the reinvestment of the cash collateral. Any cash collateral received by the ProFund in connection with these loans may be reinvested in a variety of short-term investments. Any non-cash collateral received by the ProFund in connection with these loans may not be sold or pledged by the ProFund and, accordingly, is not reflected in the ProFund's assets and liabilities. The ProFunds may incur fees and expenses in connection with the reinvestment of cash collateral. For security loans collateralized by cash, borrowers may be entitled to receive a fee based on the amount of collateral. The ProFunds are typically compensated by the difference between the amount earned on the reinvestment of cash collateral and any fees paid to the borrower. Although voting and other rights attendant to securities loaned pass to the borrower, such loans may be recalled so that the securities may be voted by the ProFund if a material event affecting the ProFund's investment in the securities on loan is to occur. Security loans are subject to termination by the ProFund or the borrower at any time. No securities loan shall be made on behalf of a ProFund if, as a result, the aggregate value of all securities loaned by the particular ProFund exceeds one-third of the value of such ProFund's total assets (including the value of the collateral received).
Securities lending involves exposure to certain risks, including “gap” risk (i.e., the risk of a mismatch between the return on cash collateral reinvestments and any fees a ProFund has agreed to pay a borrower), operational risk (i.e., the risk of losses resulting from problems in the settlement and the accounting process), legal, counterparty and credit risk. If a securities lending counterparty were to default, a ProFund would be subject to the risk of a possible delay in receiving collateral or in recovering the loaned securities, or to a possible loss of rights in the collateral. In the event a borrower does not return a ProFund's securities as agreed, the ProFund may experience losses if the proceeds received from liquidating the collateral do not at least equal the value of the loaned security at the time the collateral is liquidated, plus the transaction costs incurred in purchasing replacement securities. This event could trigger adverse tax consequences for a ProFund. The investment of cash collateral deposited by the borrower is subject to inherent market risks such as interest rate risk, credit risk, liquidity risk, and other risks that are present in the market. A ProFund could lose money if its short-term reinvestment of the collateral declines in value over the period of the loan. The market value of the loaned securities is determined at the close of each business day of the ProFund and any additional required collateral is delivered to the ProFund, or excess collateral returned by the ProFund, on the next business day.
The following table is a summary of the ProFunds' securities lending transactions as of January 31, 2020:
| Fund | | Value of
Securities on
Loan | | | Value of
Cash
Collateral
Received* | |
| Basic Materials UltraSector ProFund | | $ | 71,593 | | | $ | 74,516 | |
| Bull ProFund | | | 21,764 | | | | 22,576 | |
| Health Care UltraSector ProFund | | | 27,055 | | | | 28,462 | |
| Industrials UltraSector ProFund | | | 639 | | | | 670 | |
| Large-Cap Value ProFund | | | 23,862 | | | | 24,752 | |
| Mid-Cap ProFund | | | 16,420 | | | | 17,674 | |
| Mid-Cap Growth ProFund | | | 1,808 | | | | 1,842 | |
| Mid-Cap Value ProFund | | | 28,011 | | | | 30,196 | |
| Oil Equipment & Services UltraSector ProFund | | | 25,634 | | | | 27,648 | |
| Pharmaceuticals UltraSector ProFund | | | 17,511 | | | | 20,415 | |
January 31, 2020 (unaudited):: Notes to Financial Statements :: 277
| Fund | | Value of
Securities on
Loan | | | Value of
Cash
Collateral
Received* | |
| Precious Metals UltraSector ProFund | | $ | 138,599 | | | $ | 141,517 | |
| Small-Cap ProFund | | | 15,906 | | | | 17,218 | |
| Small-Cap Growth ProFund | | | 54,512 | | | | 58,404 | |
| Small-Cap Value ProFund | | | 84,940 | | | | 92,011 | |
| Technology UltraSector ProFund | | | 41,738 | | | | 44,308 | |
| Telecommunications UltraSector ProFund | | | 542 | | | | 576 | |
| UltraBull ProFund | | | 46,151 | | | | 47,872 | |
| UltraChina ProFund | | | 96,875 | | | | 108,923 | |
| UltraLatin America ProFund | | | 361,460 | | | | 386,175 | |
| UltraMid-Cap ProFund | | | 468,520 | | | | 488,921 | |
| * | Collateral received in the form of cash was reinvested in securities shown in the Collateral for Securities Loaned section of the Schedule of Portfolio Investments. |
Investment Transactions and Related Income
Throughout the reporting period, investment transactions are accounted for no later than one business day following the trade date. For financial reporting purposes, investment transactions are accounted for on trade date on the last business day of the reporting period. Interest income is recognized on an accrual basis and includes, where applicable, the amortization of premium or accretion of discount. Dividend income is recorded on the ex-dividend date except in the case of depositary receipts, in which case dividends are recorded as soon as such information becomes available. Pay-in-kind interest income and non-cash dividend income received in the form of securities in-lieu of cash, if any, are recorded at the fair value of the securities received. Gains or losses realized on sales of securities are determined using the specific identification method by comparing the identified cost of the security lot sold with the net sales proceeds.
Allocations
Expenses directly attributable to a ProFund are charged to that ProFund, while expenses which are attributable to more than one fund in the Trust, or jointly with an affiliate, are allocated among the respective funds in the Trust and/or affiliate based upon relative net assets or another reasonable basis.
The investment income, expenses (other than class specific expenses charged to a class), realized and unrealized gains and losses on investments of a ProFund are allocated to each class of shares based upon relative net assets on the date income is earned or expenses and realized and unrealized gains and losses are incurred.
Distributions to Shareholders
Each of the ProFunds (except Real Estate UltraSector ProFund and U.S. Government Plus ProFund) intends to declare and distribute net investment income at least annually, if any. Real Estate UltraSector ProFund declares and pays dividends from net investment income quarterly, if any. U.S. Government Plus ProFund declares dividends from net investment income daily and pays dividends on a monthly basis, if any. Net realized capital gains, if any, will be distributed annually.
The amount of distributions from net investment income and net realized gains are determined in accordance with federal income tax regulations which may differ from GAAP. These “book/tax” differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature (e.g., net operating loss, distribution reclassification, and equalization), such amounts are reclassified within the composition of net assets based on their federal tax-basis treatment; temporary differences (e.g., wash sales) do not require a reclassification. The ProFunds may utilize equalization accounting for tax purposes and designate earnings and profits, including net realized gains distributed to shareholders on redemption of shares, as a part of the dividends paid deduction for income tax purposes. To the extent they exceed net investment income and net realized capital gains for tax purposes, they are reported as distribution of capital.
Federal Income Taxes
Each of the ProFunds intends to continue to qualify each year as a RIC under Subchapter M of the Internal Revenue Code of 1986, as amended. A RIC generally is not subject to federal income tax on income and gains distributed in a timely manner to its shareholders. The ProFunds intend to make timely distributions in order to avoid tax liability. Accordingly, no provision for federal income taxes is required in the financial statements.
The Bear ProFund, Bull ProFund, Europe 30 ProFund, UltraBear ProFund, UltraBull ProFund, UltraJapan ProFund, UltraNasdaq-100 ProFund, and UltraShort Nasdaq-100 ProFund have a calendar tax year end. The remaining ProFunds have a tax year end of October 31st.
Management of the ProFunds has reviewed tax positions taken in tax years that remain subject to examination by all major tax jurisdictions, including federal (i.e., the last four tax year ends and the interim tax period since then, as applicable). Management believes that there is no tax liability resulting from unrecognized tax benefits related to uncertain tax positions taken and the ProFunds are not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months.
Other
Expense offsets to custody fees that arise from credits on cash balances maintained on deposit are reflected on the Statement of Operations, as applicable, as “Fees paid indirectly.”
278 :: Notes to Financial Statements ::January 31, 2020 (unaudited)
3. Investment Valuation Summary
The valuation techniques employed by the ProFunds, described below, maximize the use of observable inputs and minimize the use of unobservable inputs in determining fair value. These valuation techniques distinguish between market participant assumptions developed based on market data obtained from sources independent of the ProFunds (observable inputs) and the ProFunds' own assumptions about market participant assumptions developed based on the best information available under the circumstances (unobservable inputs). The inputs used for valuing the ProFunds' investments are summarized in the three broad levels listed below:
• Level 1–quoted prices in active markets for identical assets
• Level 2–other significant observable inputs (including quoted prices for similar securities, interest rates, prepayments speeds, credit risk, etc.)
• Level 3–significant unobservable inputs (including the ProFunds' own assumptions in determining the fair value of investments)
The inputs or methodology used for valuing investments are not necessarily an indication of the risk associated with investing in those investments. For example, repurchase agreements are generally valued at amortized cost. Generally, amortized cost approximates the current fair value of a security, but since the valuation is not obtained from a quoted price in an active market, such securities are reflected as Level 2. Fair value measurements may also require additional disclosure when the volume and level of activity for the asset or liability have significantly decreased, as well as when circumstances indicate that a transaction is not orderly. Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
Security prices are generally valued at their fair value using information provided by a third party pricing service or market quotations or other procedures approved by the Trust's Board of Trustees. The securities in the portfolio of a ProFund that are listed or traded on a stock exchange or the Nasdaq National Market System (“Nasdaq/NMS”), are valued at the official closing price, if available, or the last sale price, on the exchange or system where the security is principally traded. If there have been no sales for that day on the exchange or system where the security is principally traded, then the value may be determined with reference to the last sale price, or the official closing price, if applicable, on any other exchange or system. In each of these situations, valuations are typically categorized as Level 1 in the fair value hierarchy. If there have been no sales for that day on any exchange or system, the security will be valued using fair value procedures in accordance with procedures approved by the Trust's Board of Trustees as described below.
Securities regularly traded in the OTC markets, including securities listed on an exchange, but that are primarily traded OTC other than those traded on the Nasdaq/NMS, are generally valued on the basis of the mean between the bid and asked quotes furnished by dealers actively trading those instruments. Fixed-income securities are generally valued according to prices as furnished by an independent pricing service, generally at the mean of the bid and asked quotes for those instruments. Short-term fixed-income securities maturing in sixty days or less, and of sufficient credit quality, may be valued at amortized cost, which approximates fair value. Under the amortized cost method, premium or discount, if any, is amortized or accreted, respectively, on a constant basis to the maturity of the security. In each of these situations, valuations are typically categorized as Level 2 in the fair value hierarchy.
Derivatives are generally valued using independent pricing services and/or agreements with counterparties or other procedures approved by the Trust's Board of Trustees. Futures contracts are generally valued at their last sale price prior to the time at which the net asset value per share of a class of shares of a ProFund is determined and are typically categorized as Level 1 in the fair value hierarchy. Swap agreements are generally valued using independent sources and/or agreements with counterparties. Forward currency contracts are valued at their quoted daily prices obtained from an independent pricing service. These valuations are typically categorized as Level 2 in the fair value hierarchy. If there was no sale on that day, fair valuation procedures as described below may be applied.
When the Advisor determines that the market price of a security is not readily available or deemed unreliable (e.g., an approved pricing service does not provide a price, a furnished price is in error, certain stale prices, or an event occurs that materially affects the furnished price), it may be valued by other methods that the Board of Trustees believes accurately reflects fair value. The use of such a fair valuation method may be appropriate if, for example: (i) market quotations do not accurately reflect fair value of an investment; (ii) an investment's value has been materially affected by events occurring after the close of the exchange or market on which the investment is principally traded; (iii) a trading halt closes an exchange or market early; or (iv) other events result in an exchange or market delaying its normal close. Any such fair valuations will be conducted pursuant to Board-approved fair valuation procedures. Fair value pricing may require subjective determinations about the value of a security. While the Trust's policy is intended to result in a calculation of a ProFund's NAV that fairly reflects security values as of the time of pricing, the Trust cannot ensure that fair values determined by the Advisor or persons acting at their direction would accurately reflect the price that a ProFund could obtain for a security if it were to dispose of that security as of the time of pricing (for instance, in a forced or distressed sale). The prices used by a ProFund may differ from the value that would be realized if the securities were sold and the differences could be material to the financial statements. Depending on the source and relative significance of valuation inputs, these instruments may be classified as Level 2 or Level 3 in the fair value hierarchy.
For the period ended January 31, 2020, there were no Level 3 investments for which significant unobservable inputs were used to determine fair value.
January 31, 2020 (unaudited):: Notes to Financial Statements :: 279
A summary of the valuations as of January 31, 2020, based upon the three levels defined above, is included in the table below while the breakdown, by category, of equity securities is disclosed on the Schedule of Portfolio Investments for each ProFund:
| | | LEVEL 1 - Quoted Prices | | | LEVEL 2 - Other Significant
Observable Inputs | | | Total | |
| | | Investment
Securities | | | Other Financial
Instruments^ | | | Investment
Securities | | | Other Financial
Instruments^ | | | Investment
Securities | | | Other Financial
Instruments^ | |
| Banks UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 8,201,648 | | | $ | — | | | $ | — | | | $ | — | | | $ | 8,201,648 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 3,355,000 | | | | — | | | | 3,355,000 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (656,622 | ) | | | — | | | | (656,622 | ) |
| Total | | $ | 8,201,648 | | | $ | — | | | $ | 3,355,000 | | | $ | (656,622 | ) | | $ | 11,556,648 | | | $ | (656,622 | ) |
| Basic Materials UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 3,078,966 | | | $ | — | | | $ | — | | | $ | — | | | $ | 3,078,966 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 1,135,000 | | | | — | | | | 1,135,000 | | | | — | |
| Collateral for Securities Loaned | | | 74,516 | | | | — | | | | — | | | | — | | | | 74,516 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (137,832 | ) | | | — | | | | (137,832 | ) |
| Total | | $ | 3,153,482 | | | $ | — | | | $ | 1,135,000 | | | $ | (137,832 | ) | | $ | 4,288,482 | | | $ | (137,832 | ) |
| Bear ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 14,164,000 | | | $ | — | | | $ | 14,164,000 | | | $ | — | |
| Futures Contracts | | | — | | | | (18,089 | ) | | | — | | | | — | | | | — | | | | (18,089 | ) |
| Swap Agreements | | | — | | | | — | | | | — | | | | 67,217 | | | | — | | | | 67,217 | |
| Total | | $ | — | | | $ | (18,089 | ) | | $ | 14,164,000 | | | $ | 67,217 | | | $ | 14,164,000 | | | $ | 49,128 | |
| Biotechnology UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 134,594,738 | | | $ | — | | | $ | — | | | $ | — | | | $ | 134,594,738 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 41,229,000 | | | | — | | | | 41,229,000 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (6,927,510 | ) | | | — | | | | (6,927,510 | ) |
| Total | | $ | 134,594,738 | | | $ | — | | | $ | 41,229,000 | | | $ | (6,927,510 | ) | | $ | 175,823,738 | | | $ | (6,927,510 | ) |
| Bull ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 47,788,913 | | | $ | — | | | $ | — | | | $ | — | | | $ | 47,788,913 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 21,651,000 | | | | — | | | | 21,651,000 | | | | — | |
| Collateral for Securities Loaned | | | 22,576 | | | | — | | | | — | | | | — | | | | 22,576 | | | | — | |
| Futures Contracts | | | — | | | | 151,829 | | | | — | | | | — | | | | — | | | | 151,829 | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (57,753 | ) | | | — | | | | (57,753 | ) |
| Total | | $ | 47,811,489 | | | $ | 151,829 | | | $ | 21,651,000 | | | $ | (57,753 | ) | | $ | 69,462,489 | | | $ | 94,076 | |
| Communication Services UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 5,720,542 | | | $ | — | | | $ | — | | | $ | — | | | $ | 5,720,542 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 1,921,000 | | | | — | | | | 1,921,000 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (268,731 | ) | | | — | | | | (268,731 | ) |
| Total | | $ | 5,720,542 | | | $ | — | | | $ | 1,921,000 | | | $ | (268,731 | ) | | $ | 7,641,542 | | | $ | (268,731 | ) |
| Consumer Goods UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 6,057,930 | | | $ | — | | | $ | — | | | $ | — | | | $ | 6,057,930 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 1,996,000 | | | | — | | | | 1,996,000 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (110,647 | ) | | | — | | | | (110,647 | ) |
| Total | | $ | 6,057,930 | | | $ | — | | | $ | 1,996,000 | | | $ | (110,647 | ) | | $ | 8,053,930 | | | $ | (110,647 | ) |
| Consumer Services UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 39,639,451 | | | $ | — | | | $ | — | | | $ | — | | | $ | 39,639,451 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 10,745,000 | | | | — | | | | 10,745,000 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (605,877 | ) | | | — | | | | (605,877 | ) |
| Total | | $ | 39,639,451 | | | $ | — | | | $ | 10,745,000 | | | $ | (605,877 | ) | | $ | 50,384,451 | | | $ | (605,877 | ) |
280 :: Notes to Financial Statements ::January 31, 2020 (unaudited)
| | | LEVEL 1 - Quoted Prices | | | LEVEL 2 - Other Significant
Observable Inputs | | | Total | |
| | | Investment
Securities | | | Other Financial
Instruments^ | | | Investment
Securities | | | Other Financial
Instruments^ | | | Investment
Securities | | | Other Financial
Instruments^ | |
| Europe 30 ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 4,788,313 | | | $ | — | | | $ | — | | | $ | — | | | $ | 4,788,313 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 21,000 | | | | — | | | | 21,000 | | | | — | |
| Total | | $ | 4,788,313 | | | $ | — | | | $ | 21,000 | | | $ | — | | | $ | 4,809,313 | | | $ | — | |
| Falling U.S. Dollar ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 1,110,000 | | | $ | — | | | $ | 1,110,000 | | | $ | — | |
| Forward Currency Contracts | | | — | | | | — | | | | — | | | | (5,124 | ) | | | — | | | | (5,124 | ) |
| Total | | $ | — | | | $ | — | | | $ | 1,110,000 | | | $ | (5,124 | ) | | $ | 1,110,000 | | | $ | (5,124 | ) |
| Financials UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 9,515,999 | | | $ | — | | | $ | — | | | $ | — | | | $ | 9,515,999 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 3,215,000 | | | | — | | | | 3,215,000 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (251,896 | ) | | | — | | | | (251,896 | ) |
| Total | | $ | 9,515,999 | | | $ | — | | | $ | 3,215,000 | | | $ | (251,896 | ) | | $ | 12,730,999 | | | $ | (251,896 | ) |
| Health Care UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 34,152,607 | | | $ | — | | | $ | — | | | $ | — | | | $ | 34,152,607 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 13,531,000 | | | | — | | | | 13,531,000 | | | | — | |
| Collateral for Securities Loaned | | | 28,462 | | | | — | | | | — | | | | — | | | | 28,462 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (1,498,497 | ) | | | — | | | | (1,498,497 | ) |
| Total | | $ | 34,181,069 | | | $ | — | | | $ | 13,531,000 | | | $ | (1,498,497 | ) | | $ | 47,712,069 | | | $ | (1,498,497 | ) |
| Industrials UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 8,031,694 | | | $ | — | | | $ | — | | | $ | — | | | $ | 8,031,694 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 2,559,000 | | | | — | | | | 2,559,000 | | | | — | |
| Collateral for Securities Loaned | | | 670 | | | | — | | | | — | | | | — | | | | 670 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (280,107 | ) | | | — | | | | (280,107 | ) |
| Total | | $ | 8,032,364 | | | $ | — | | | $ | 2,559,000 | | | $ | (280,107 | ) | | $ | 10,591,364 | | | $ | (280,107 | ) |
| Internet UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 128,820,583 | | | $ | — | | | $ | — | | | $ | — | | | $ | 128,820,583 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 38,521,000 | | | | — | | | | 38,521,000 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (3,993,962 | ) | | | — | | | | (3,993,962 | ) |
| Total | | $ | 128,820,583 | | | $ | — | | | $ | 38,521,000 | | | $ | (3,993,962 | ) | | $ | 167,341,583 | | | $ | (3,993,962 | ) |
| Large-Cap Growth ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 20,605,453 | | | $ | — | | | $ | — | | | $ | — | | | $ | 20,605,453 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 23,000 | | | | — | | | | 23,000 | | | | — | |
| Total | | $ | 20,605,453 | | | $ | — | | | $ | 23,000 | | | $ | — | | | $ | 20,628,453 | | | $ | — | |
| Large-Cap Value ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 24,619,536 | | | $ | — | | | $ | — | | | $ | — | | | $ | 24,619,536 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 55,000 | | | | — | | | | 55,000 | | | | — | |
| Collateral for Securities Loaned | | | 24,752 | | | | — | | | | — | | | | — | | | | 24,752 | | | | — | |
| Total | | $ | 24,644,288 | | | $ | — | | | $ | 55,000 | | | $ | — | | | $ | 24,699,288 | | | $ | — | |
| Mid-Cap ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 6,831,803 | | | $ | — | | | $ | — | | | $ | — | | | $ | 6,831,803 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 3,204,000 | | | | — | | | | 3,204,000 | | | | — | |
| Collateral for Securities Loaned | | | 17,674 | | | | — | | | | — | | | | — | | | | 17,674 | | | | — | |
| Futures Contracts | | | — | | | | (20,920 | ) | | | — | | | | — | | | | — | | | | (20,920 | ) |
| Swap Agreements | | | — | | | | — | | | | — | | | | (28,961 | ) | | | — | | | | (28,961 | ) |
| Total | | $ | 6,849,477 | | | $ | (20,920 | ) | | $ | 3,204,000 | | | $ | (28,961 | ) | | $ | 10,053,477 | | | $ | (49,881 | ) |
| Mid-Cap Growth ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 7,939,222 | | | $ | — | | | $ | — | | | $ | — | | | $ | 7,939,222 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 1,000 | | | | — | | | | 1,000 | | | | — | |
| Collateral for Securities Loaned | | | 1,842 | | | | — | | | | — | | | | — | | | | 1,842 | | | | — | |
| Total | | $ | 7,941,064 | | | $ | — | | | $ | 1,000 | | | $ | — | | | $ | 7,942,064 | | | $ | — | |
January 31, 2020 (unaudited):: Notes to Financial Statements :: 281
| | | LEVEL 1 - Quoted Prices | | | LEVEL 2 - Other Significant
Observable Inputs | | | Total | |
| | | Investment
Securities | | | Other Financial
Instruments^ | | | Investment
Securities | | | Other Financial
Instruments^ | | | Investment
Securities | | | Other Financial
Instruments^ | |
| Mid-Cap Value ProFund |
| Common Stocks | | $ | 5,521,094 | | | $ | — | | | $ | — | | | $ | — | | | $ | 5,521,094 | | | $ | — | |
| Collateral for Securities Loaned | | | 30,196 | | | | — | | | | — | | | | — | | | | 30,196 | | | | — | |
| Total | | $ | 5,551,290 | | | $ | — | | | $ | — | | | $ | — | | | $ | 5,551,290 | | | $ | — | |
| Nasdaq-100 ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 66,952,648 | | | $ | — | | | $ | — | | | $ | — | | | $ | 66,952,648 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 32,532,000 | | | | — | | | | 32,532,000 | | | | — | |
| Futures Contracts | | | — | | | | 736,496 | | | | — | | | | — | | | | — | | | | 736,496 | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 51,191 | | | | — | | | | 51,191 | |
| Total | | $ | 66,952,648 | | | $ | 736,496 | | | $ | 32,532,000 | | | $ | 51,191 | | | $ | 99,484,648 | | | $ | 787,687 | |
| Oil & Gas UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 8,375,939 | | | $ | — | | | $ | — | | | $ | — | | | $ | 8,375,939 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 3,123,000 | | | | — | | | | 3,123,000 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (600,657 | ) | | | — | | | | (600,657 | ) |
| Total | | $ | 8,375,939 | | | $ | — | | | $ | 3,123,000 | | | $ | (600,657 | ) | | $ | 11,498,939 | | | $ | (600,657 | ) |
| Oil Equipment & Services UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 4,218,803 | | | $ | — | | | $ | — | | | $ | — | | | $ | 4,218,803 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 1,185,000 | | | | — | | | | 1,185,000 | | | | — | |
| Collateral for Securities Loaned | | | 27,648 | | | | — | | | | — | | | | — | | | | 27,648 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (327,834 | ) | | | — | | | | (327,834 | ) |
| Total | | $ | 4,246,451 | | | $ | — | | | $ | 1,185,000 | | | $ | (327,834 | ) | | $ | 5,431,451 | | | $ | (327,834 | ) |
| Pharmaceuticals UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 4,040,081 | | | $ | — | | | $ | — | | | $ | — | | | $ | 4,040,081 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 926,000 | | | | — | | | | 926,000 | | | | — | |
| Collateral for Securities Loaned | | | 20,415 | | | | — | | | | — | | | | — | | | | 20,415 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (106,187 | ) | | | — | | | | (106,187 | ) |
| Total | | $ | 4,060,496 | | | $ | — | | | $ | 926,000 | | | $ | (106,187 | ) | | $ | 4,986,496 | | | $ | (106,187 | ) |
| Precious Metals UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 30,283,493 | | | $ | — | | | $ | — | | | $ | — | | | $ | 30,283,493 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 8,163,000 | | | | — | | | | 8,163,000 | | | | — | |
| Collateral for Securities Loaned | | | 141,517 | | | | — | | | | — | | | | — | | | | 141,517 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 453,079 | | | | — | | | | 453,079 | |
| Total | | $ | 30,425,010 | | | $ | — | | | $ | 8,163,000 | | | $ | 453,079 | | | $ | 38,588,010 | | | $ | 453,079 | |
| Real Estate UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 8,714,506 | | | $ | — | | | $ | — | | | $ | — | | | $ | 8,714,506 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 7,321,000 | | | | — | | | | 7,321,000 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (217,965 | ) | | | — | | | | (217,965 | ) |
| Total | | $ | 8,714,506 | | | $ | — | | | $ | 7,321,000 | | | $ | (217,965 | ) | | $ | 16,035,506 | | | $ | (217,965 | ) |
| Rising Rates Opportunity ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 14,186,000 | | | $ | — | | | $ | 14,186,000 | | | $ | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (745,383 | ) | | | — | | | | (745,383 | ) |
| Total | | $ | — | | | $ | — | | | $ | 14,186,000 | | | $ | (745,383 | ) | | $ | 14,186,000 | | | $ | (745,383 | ) |
| Rising Rates Opportunity 10 ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 3,046,000 | | | $ | — | | | $ | 3,046,000 | | | $ | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (74,245 | ) | | | — | | | | (74,245 | ) |
| Total | | $ | — | | | $ | — | | | $ | 3,046,000 | | | $ | (74,245 | ) | | $ | 3,046,000 | | | $ | (74,245 | ) |
282 :: Notes to Financial Statements ::January 31, 2020 (unaudited)
| | | LEVEL 1 - Quoted Prices | | | LEVEL 2 - Other Significant
Observable Inputs | | | Total | |
| | | Investment
Securities | | | Other Financial
Instruments^ | | | Investment
Securities | | | Other Financial
Instruments^ | | | Investment
Securities | | | Other Financial
Instruments^ | |
| Rising U.S. Dollar ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 8,505,000 | | | $ | — | | | $ | 8,505,000 | | | $ | — | |
| Forward Currency Contracts | | | — | | | | — | | | | — | | | | 30,992 | | | | — | | | | 30,992 | |
| Total | | $ | — | | | $ | — | | | $ | 8,505,000 | | | $ | 30,992 | | | $ | 8,505,000 | | | $ | 30,992 | |
| Semiconductor UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 153,818,489 | | | $ | — | | | $ | — | | | $ | — | | | $ | 153,818,489 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 62,493,000 | | | | — | | | | 62,493,000 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (11,609,537 | ) | | | — | | | | (11,609,537 | ) |
| Total | | $ | 153,818,489 | | | $ | — | | | $ | 62,493,000 | | | $ | (11,609,537 | ) | | $ | 216,311,489 | | | $ | (11,609,537 | ) |
| Short Nasdaq-100 ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 4,734,000 | | | $ | — | | | $ | 4,734,000 | | | $ | — | |
| Futures Contracts | | | — | | | | (40,370 | ) | | | — | | | | — | | | | — | | | | (40,370 | ) |
| Swap Agreements | | | — | | | | — | | | | — | | | | (38,689 | ) | | | — | | | | (38,689 | ) |
| Total | | $ | — | | | $ | (40,370 | ) | | $ | 4,734,000 | | | $ | (38,689 | ) | | $ | 4,734,000 | | | $ | (79,059 | ) |
| Short Oil & Gas ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 2,019,000 | | | $ | — | | | $ | 2,019,000 | | | $ | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 157,959 | | | | — | | | | 157,959 | |
| Total | | $ | — | | | $ | — | | | $ | 2,019,000 | | | $ | 157,959 | | | $ | 2,019,000 | | | $ | 157,959 | |
| Short Precious Metals ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 1,394,000 | | | $ | — | | | $ | 1,394,000 | | | $ | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (73,935 | ) | | | — | | | | (73,935 | ) |
| Total | | $ | — | | | $ | — | | | $ | 1,394,000 | | | $ | (73,935 | ) | | $ | 1,394,000 | | | $ | (73,935 | ) |
| Short Real Estate ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 805,000 | | | $ | — | | | $ | 805,000 | | | $ | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 14,085 | | | | — | | | | 14,085 | |
| Total | | $ | — | | | $ | — | | | $ | 805,000 | | | $ | 14,085 | | | $ | 805,000 | | | $ | 14,085 | |
| Short Small-Cap ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 2,178,000 | | | $ | — | | | $ | 2,178,000 | | | $ | — | |
| Futures Contracts | | | — | | | | 3,407 | | | | — | | | | — | | | | — | | | | 3,407 | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 38,013 | | | | — | | | | 38,013 | |
| Total | | $ | — | | | $ | 3,407 | | | $ | 2,178,000 | | | $ | 38,013 | | | $ | 2,178,000 | | | $ | 41,420 | |
| Small-Cap ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 2,473,167 | | | $ | — | | | $ | — | | | $ | — | | | $ | 2,473,167 | | | $ | — | |
| Contingent Right | | | — | | | | — | | | | 107 | | | | — | | | | 107 | | | | — | |
| Trust* | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| Repurchase Agreements | | | — | | | | — | | | | 1,680,000 | | | | — | | | | 1,680,000 | | | | — | |
| Collateral for Securities Loaned | | | 17,218 | | | | — | | | | — | | | | — | | | | 17,218 | | | | — | |
| Futures Contracts | | | — | | | | (15,359 | ) | | | — | | | | — | | | | — | | | | (15,359 | ) |
| Swap Agreements | | | — | | | | — | | | | — | | | | 12,085 | | | | — | | | | 12,085 | |
| Total | | $ | 2,490,385 | | | $ | (15,359 | ) | | $ | 1,680,107 | | | $ | 12,085 | | | $ | 4,170,492 | | | $ | (3,274 | ) |
| Small-Cap Growth ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 11,145,065 | | | $ | — | | | $ | — | | | $ | — | | | $ | 11,145,065 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 32,000 | | | | — | | | | 32,000 | | | | — | |
| Collateral for Securities Loaned | | | 58,404 | | | | — | | | | — | | | | — | | | | 58,404 | | | | — | |
| Total | | $ | 11,203,469 | | | $ | — | | | $ | 32,000 | | | $ | — | | | $ | 11,235,469 | | | $ | — | |
| Small-Cap Value ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 5,184,419 | | | $ | — | | | $ | — | | | $ | — | | | $ | 5,184,419 | | | $ | — | |
| Contingent Right* | | | — | | | | — | | | | 1,215 | | | | — | | | | 1,215 | | | | — | |
| Collateral for Securities Loaned | | | 92,011 | | | | — | | | | — | | | | — | | | | 92,011 | | | | — | |
| Total | | $ | 5,276,430 | | | $ | — | | | $ | 1,215 | | | $ | — | | | $ | 5,277,645 | | | $ | — | |
January 31, 2020 (unaudited):: Notes to Financial Statements :: 283
| | | LEVEL 1 - Quoted Prices | | | LEVEL 2 - Other Significant
Observable Inputs | | | Total | |
| | | Investment
Securities | | | Other Financial
Instruments^ | | | Investment
Securities | | | Other Financial
Instruments^ | | | Investment
Securities | | | Other Financial
Instruments^ | |
| Technology UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 70,638,170 | | | $ | — | | | $ | — | | | $ | — | | | $ | 70,638,170 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 25,028,000 | | | | — | | | | 25,028,000 | | | | — | |
| Collateral for Securities Loaned | | | 44,308 | | | | — | | | | — | | | | — | | | | 44,308 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (2,514,878 | ) | | | — | | | | (2,514,878 | ) |
| Total | | $ | 70,682,478 | | | $ | — | | | $ | 25,028,000 | | | $ | (2,514,878 | ) | | $ | 95,710,478 | | | $ | (2,514,878 | ) |
| Telecommunications UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 904,582 | | | $ | — | | | $ | — | | | $ | — | | | $ | 904,582 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 312,000 | | | | — | | | | 312,000 | | | | — | |
| Collateral for Securities Loaned | | | 576 | | | | — | | | | — | | | | — | | | | 576 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (37,755 | ) | | | — | | | | (37,755 | ) |
| Total | | $ | 905,158 | | | $ | — | | | $ | 312,000 | | | $ | (37,755 | ) | | $ | 1,217,158 | | | $ | (37,755 | ) |
| U.S. Government Plus ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| U.S. Treasury Obligation | | $ | — | | | $ | — | | | $ | 13,145,466 | | | $ | — | | | $ | 13,145,466 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 24,410,000 | | | | — | | | | 24,410,000 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 1,285,072 | | | | — | | | | 1,285,072 | |
| Total | | $ | — | | | $ | — | | | $ | 37,555,466 | | | $ | 1,285,072 | | | $ | 37,555,466 | | | $ | 1,285,072 | |
| UltraBear ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 9,163,000 | | | $ | — | | | $ | 9,163,000 | | | $ | — | |
| Futures Contracts | | | — | | | | (18,089 | ) | | | — | | | | — | | | | — | | | | (18,089 | ) |
| Swap Agreements | | | — | | | | — | | | | — | | | | 81,761 | | | | — | | | | 81,761 | |
| Total | | $ | — | | | $ | (18,089 | ) | | $ | 9,163,000 | | | $ | 81,761 | | | $ | 9,163,000 | | | $ | 63,672 | |
| UltraBull ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 99,381,936 | | | $ | — | | | $ | — | | | $ | — | | | $ | 99,381,936 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 56,794,000 | | | | — | | | | 56,794,000 | | | | — | |
| Collateral for Securities Loaned | | | 47,872 | | | | — | | | | — | | | | — | | | | 47,872 | | | | — | |
| Futures Contracts | | | — | | | | 231,777 | | | | — | | | | — | | | | — | | | | 231,777 | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (200,974 | ) | | | — | | | | (200,974 | ) |
| Total | | $ | 99,429,808 | | | $ | 231,777 | | | $ | 56,794,000 | | | $ | (200,974 | ) | | $ | 156,223,808 | | | $ | 30,803 | |
| UltraChina ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 15,179,713 | | | $ | — | | | $ | — | | | $ | — | | | $ | 15,179,713 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 3,914,000 | | | | — | | | | 3,914,000 | | | | — | |
| Collateral for Securities Loaned | | | 108,923 | | | | — | | | | — | | | | — | | | | 108,923 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (502,970 | ) | | | — | | | | (502,970 | ) |
| Total | | $ | 15,288,636 | | | $ | — | | | $ | 3,914,000 | | | $ | (502,970 | ) | | $ | 19,202,636 | | | $ | (502,970 | ) |
| UltraDow 30 ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 24,112,890 | | | $ | — | | | $ | — | | | $ | — | | | $ | 24,112,890 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 8,373,000 | | | | — | | | | 8,373,000 | | | | — | |
| Futures Contracts | | | — | | | | 9,395 | | | | — | | | | — | | | | — | | | | 9,395 | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (398,235 | ) | | | — | | | | (398,235 | ) |
| Total | | $ | 24,112,890 | | | $ | 9,395 | | | $ | 8,373,000 | | | $ | (398,235 | ) | | $ | 32,485,890 | | | $ | (388,840 | ) |
| UltraEmerging Markets ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 11,958,860 | | | $ | — | | | $ | — | | | $ | — | | | $ | 11,958,860 | | | $ | — | |
| Preferred Stock | | | 288,188 | | | | — | | | | — | | | | — | | | | 288,188 | | | | — | |
| Repurchase Agreements | | | — | | | | — | | | | 1,604,000 | | | | — | | | | 1,604,000 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (319,932 | ) | | | — | | | | (319,932 | ) |
| Total | | $ | 12,247,048 | | | $ | — | | | $ | 1,604,000 | | | $ | (319,932 | ) | | $ | 13,851,048 | | | $ | (319,932 | ) |
| UltraInternational ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 2,650,000 | | | $ | — | | | $ | 2,650,000 | | | $ | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (35,817 | ) | | | — | | | | (35,817 | ) |
| Total | | $ | — | | | $ | — | | | $ | 2,650,000 | | | $ | (35,817 | ) | | $ | 2,650,000 | | | $ | (35,817 | ) |
284 :: Notes to Financial Statements ::January 31, 2020 (unaudited)
| | | LEVEL 1 - Quoted Prices | | | LEVEL 2 - Other Significant
Observable Inputs | | | Total | |
| | | Investment
Securities | | | Other Financial
Instruments^ | | | Investment
Securities | | | Other Financial
Instruments^ | | | Investment
Securities | | | Other Financial
Instruments^ | |
| UltraJapan ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 12,529,000 | | | $ | — | | | $ | 12,529,000 | | | $ | — | |
| Futures Contracts | | | — | | | | (853,044 | ) | | | — | | | | — | | | | — | | | | (853,044 | ) |
| Swap Agreement | | | — | | | | — | | | | — | | | | (2,029 | ) | | | — | | | | (2,029 | ) |
| Total | | $ | — | | | $ | (853,044 | ) | | $ | 12,529,000 | | | $ | (2,029 | ) | | $ | 12,529,000 | | | $ | (855,073 | ) |
| UltraLatin America ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 20,188,707 | | | $ | — | | | $ | — | | | $ | — | | | $ | 20,188,707 | | | $ | — | |
| Preferred Stocks | | | 2,335,633 | | | | — | | | | — | | | | — | | | | 2,335,633 | | | | — | |
| Repurchase Agreements | | | — | | | | — | | | | 3,212,000 | | | | — | | | | 3,212,000 | | | | — | |
| Collateral for Securities Loaned | | | 386,175 | | | | — | | | | — | | | | — | | | | 386,175 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (691,384 | ) | | | — | | | | (691,384 | ) |
| Total | | $ | 22,910,515 | | | $ | — | | | $ | 3,212,000 | | | $ | (691,384 | ) | | $ | 26,122,515 | | | $ | (691,384 | ) |
| UltraMid-Cap ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 46,052,725 | | | $ | — | | | $ | — | | | $ | — | | | $ | 46,052,725 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 19,821,000 | | | | — | | | | 19,821,000 | | | | — | |
| Collateral for Securities Loaned | | | 488,921 | | | | — | | | | — | | | | — | | | | 488,921 | | | | — | |
| Futures Contracts | | | — | | | | (324,287 | ) | | | — | | | | — | | | | — | | | | (324,287 | ) |
| Swap Agreements | | | — | | | | — | | | | — | | | | (888,632 | ) | | | — | | | | (888,632 | ) |
| Total | | $ | 46,541,646 | | | $ | (324,287 | ) | | $ | 19,821,000 | | | $ | (888,632 | ) | | $ | 66,362,646 | | | $ | (1,212,919 | ) |
| UltraNasdaq-100 ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 381,961,018 | | | $ | — | | | $ | — | | | $ | — | | | $ | 381,961,018 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 242,662,000 | | | | — | | | | 242,662,000 | | | | — | |
| Futures Contracts | | | — | | | | 5,770,901 | | | | — | | | | — | | | | — | | | | 5,770,901 | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 3,462,937 | | | | — | | | | 3,462,937 | |
| Total | | $ | 381,961,018 | | | $ | 5,770,901 | | | $ | 242,662,000 | | | $ | 3,462,937 | | | $ | 624,623,018 | | | $ | 9,233,838 | |
| UltraShort China ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 7,375,000 | | | $ | — | | | $ | 7,375,000 | | | $ | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 285,021 | | | | — | | | | 285,021 | |
| Total | | $ | — | | | $ | — | | | $ | 7,375,000 | | | $ | 285,021 | | | $ | 7,375,000 | | | $ | 285,021 | |
| UltraShort Dow 30 ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 4,033,000 | | | $ | — | | | $ | 4,033,000 | | | $ | — | |
| Futures Contracts | | | — | | | | (1,551 | ) | | | — | | | | — | | | | — | | | | (1,551 | ) |
| Swap Agreements | | | — | | | | — | | | | — | | | | 62,298 | | | | — | | | | 62,298 | |
| Total | | $ | — | | | $ | (1,551 | ) | | $ | 4,033,000 | | | $ | 62,298 | | | $ | 4,033,000 | | | $ | 60,747 | |
| UltraShort Emerging Markets ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 2,900,000 | | | $ | — | | | $ | 2,900,000 | | | $ | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 119,923 | | | | — | | | | 119,923 | |
| Total | | $ | — | | | $ | — | | | $ | 2,900,000 | | | $ | 119,923 | | | $ | 2,900,000 | | | $ | 119,923 | |
| UltraShort International ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 2,681,000 | | | $ | — | | | $ | 2,681,000 | | | $ | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 41,309 | | | | — | | | | 41,309 | |
| Total | | $ | — | | | $ | — | | | $ | 2,681,000 | | | $ | 41,309 | | | $ | 2,681,000 | | | $ | 41,309 | |
| UltraShort Japan ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 929,000 | | | $ | — | | | $ | 929,000 | | | $ | — | |
| Futures Contracts | | | — | | | | 92,632 | | | | — | | | | — | | | | — | | | | 92,632 | |
| Swap Agreement | | | — | | | | — | | | | — | | | | 2,026 | | | | — | | | | 2,026 | |
| Total | | $ | — | | | $ | 92,632 | | | $ | 929,000 | | | $ | 2,026 | | | $ | 929,000 | | | $ | 94,658 | |
| UltraShort Latin America ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 4,018,000 | | | $ | — | | | $ | 4,018,000 | | | $ | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 149,147 | | | | — | | | | 149,147 | |
| Total | | $ | — | | | $ | — | | | $ | 4,018,000 | | | $ | 149,147 | | | $ | 4,018,000 | | | $ | 149,147 | |
January 31, 2020 (unaudited):: Notes to Financial Statements :: 285
| | | LEVEL 1 - Quoted Prices | | | LEVEL 2 - Other Significant
Observable Inputs | | | Total | |
| | | Investment
Securities | | | Other Financial
Instruments^ | | | Investment
Securities | | | Other Financial
Instruments^ | | | Investment
Securities | | | Other Financial
Instruments^ | |
| UltraShort Mid-Cap ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 1,331,000 | | | $ | — | | | $ | 1,331,000 | | | $ | — | |
| Futures Contracts | | | — | | | | 3,483 | | | | — | | | | — | | | | — | | | | 3,483 | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 35,893 | | | | — | | | | 35,893 | |
| Total | | $ | — | | | $ | 3,483 | | | $ | 1,331,000 | | | $ | 35,893 | | | $ | 1,331,000 | | | $ | 39,376 | |
| UltraShort Nasdaq-100 ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 14,423,000 | | | $ | — | | | $ | 14,423,000 | | | $ | — | |
| Futures Contracts | | | — | | | | (100,925 | ) | | | — | | | | — | | | | — | | | | (100,925 | ) |
| Swap Agreements | | | — | | | | — | | | | — | | | | (303,919 | ) | | | — | | | | (303,919 | ) |
| Total | | $ | — | | | $ | (100,925 | ) | | $ | 14,423,000 | | | $ | (303,919 | ) | | $ | 14,423,000 | | | $ | (404,844 | ) |
| UltraShort Small-Cap ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 5,708,000 | | | $ | — | | | $ | 5,708,000 | | | $ | — | |
| Futures Contracts | | | — | | | | 6,814 | | | | — | | | | — | | | | — | | | | 6,814 | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 205,336 | | | | — | | | | 205,336 | |
| Total | | $ | — | | | $ | 6,814 | | | $ | 5,708,000 | | | $ | 205,336 | | | $ | 5,708,000 | | | $ | 212,150 | |
| UltraSmall-Cap ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 22,173,461 | | | $ | — | | | $ | — | | | $ | — | | | $ | 22,173,461 | | | $ | — | |
| Contingent Right | | | — | | | | — | | | | 280 | | | | — | | | | 280 | | | | — | |
| Trust* | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| Repurchase Agreements | | | — | | | | — | | | | 18,689,000 | | | | — | | | | 18,689,000 | | | | — | |
| Futures Contracts | | | — | | | | (116,043 | ) | | | — | | | | — | | | | — | | | | (116,043 | ) |
| Swap Agreements | | | — | | | | — | | | | — | | | | (916,840 | ) | | | — | | | | (916,840 | ) |
| Total | | $ | 22,173,461 | | | $ | (116,043 | ) | | $ | 18,689,280 | | | $ | (916,840 | ) | | $ | 40,862,741 | | | $ | (1,032,883 | ) |
| Utilities UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 27,681,711 | | | $ | — | | | $ | — | | | $ | — | | | $ | 27,681,711 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 10,761,000 | | | | — | | | | 10,761,000 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 261,003 | | | | — | | | | 261,003 | |
| Total | | $ | 27,681,711 | | | $ | — | | | $ | 10,761,000 | | | $ | 261,003 | | | $ | 38,442,711 | | | $ | 261,003 | |
| ^ | Other financial instruments include any derivative instruments not reflected in the Schedule of Portfolio Investments as Investment Securities, such as futures contracts, forward contracts and swap agreements. These instruments are generally recorded in the financial statements at the unrealized gain or loss on the investment. |
| * | Ferroglobe Representation and Warranty Insurance Trust was value at $0 and categorized as Level 2 within the fair value hierarchy. |
4. Fees and Transactions with Affiliates and Other Parties
The ProFunds have entered into an Investment Advisory Agreement with the Advisor. Under this agreement, the ProFunds (excluding Nasdaq-100 ProFund, UltraJapan ProFund, UltraShort Japan ProFund and U.S. Government Plus ProFund) each pay the Advisor a fee at an annualized rate of 0.75% of the average daily net assets of each respective ProFund. The Nasdaq-100 ProFund, UltraJapan ProFund, UltraShort Japan ProFund and U.S. Government Plus ProFund pay the Advisor a fee at an annualized rate of 0.70%, 0.90%, 0.90% and 0.50%, respectively, of their average daily net assets.
In addition, subject to the condition that the aggregate daily net assets of the Trust and Access One Trust, another investment company advised by the Advisor, be equal to or greater than $10 billion, the Advisor has agreed to the following fee reductions with respect to each individual ProFund: 0.025% of the ProFund's daily net assets in excess of $500 million to $1 billion, 0.05% of the ProFund's daily net assets in excess of $1 billion to $2 billion, and 0.075% of the ProFunds net assets in excess of $2 billion.
During the period ended January 31, 2020, no Fund's annual investment advisory fee was subject to such reductions.
Citi Fund Services Ohio, Inc. (“Citi”) acts as the Trust's administrator (the “Administrator”). For its services as Administrator, the Trust paid Citi an annual fee based on the Trust's and Access One Trust's aggregate average net assets at a tier rate ranging from 0.00375% to 0.05% and a base fee for certain filings. Administration fees also include additional fees paid to Citi by the Trust for additional services provided, including support of the Trust's compliance program.
Citi also acts as fund accounting agent for the Trust. For these services, the Trust paid Citi an annual fee based on the Trust's and Access One Trust's aggregate average net assets at a tier rate ranging from 0.00375% to 0.03%, a base fee and reimbursement of certain expenses.
FIS Investor Services LLC (“FIS”) acts as transfer agent for the Trust. For these services, the Trust pays FIS a base fee, account and service charges, and reimbursement of certain expenses.
286 :: Notes to Financial Statements ::January 31, 2020 (unaudited)
ProFunds Distributors, Inc. (the "Distributor"), a wholly owned subsidiary of the Advisor, serves as the Trust's distributor. Under a Distribution and Shareholder Services Plan, adopted by the Board of Trustees pursuant to Rule 12b-1 under the 1940 Act, each ProFund may pay financial intermediaries such as broker-dealers, investment advisors and the Distributor up to 1.00%, on an annualized basis, of the average daily net assets attributable to Service Class shares as compensation for service and distribution-related activities and/or shareholder services with respect to Service Class shares. DWS Investment Management Americas, Inc. ("DIMA") is the investment advisor to the Government Cash Management Portfolio in which the Government Money Market ProFund, another portfolio in the Trust, invests its assets.
The Advisor, pursuant to a separate Management Services Agreement, performs certain client support services and other administrative services on behalf of the ProFunds. For these services, each ProFund pays the Advisor a fee at the annual rate of 0.15% of its average daily net assets.
The Advisor, pursuant to a separate Services Agreement, performs certain services related to the operation and maintenance of a shareholder trading platform. For these services, the Trust pays the Advisor a monthly base fee as reflected on the Statements of Operations as "Service fees."
The ProFunds pay fees to certain intermediaries or financial institutions for record keeping, sub-accounting services, transfer agency and other administrative services as reflected on the Statements of Operations as "Administrative services fees."
Certain Officers and a Trustee of the Trust are affiliated with the Advisor or the Administrator. Except as noted below with respect to the Trust's Chief Compliance Officer, such Officers and Trustee receive no compensation from the ProFunds for serving in their respective roles. The Trust, together with affiliated Trusts, pays each Independent Trustees compensation for his services at an annual rate of $185,000. Independent Trustees also receive $10,000 for attending each regular quarterly in-person meeting, $3,000 for attending each special meeting, and $3,000 for attending each telephonic meeting. During the period ended January 31, 2020, actual Trustee compensation was $346,500 in aggregate from the Trust and affiliated trusts. There are certain employees of the Advisor, such as the Trust's Chief Compliance Officer and staff who administer the Trust's compliance program, in which the ProFunds reimburse the Advisor for their related compensation and certain other expenses incurred as reflected on the Statement of Operations as "Compliance services fees."
The Advisor has contractually agreed to waive advisory and management services fees, and if necessary, reimburse certain other expenses of the ProFunds for the periods listed below in order to limit the annual operating expenses (exclusive of brokerage costs, interest, taxes, dividends (including dividend expenses on securities sold short), litigation, indemnification, and extraordinary expenses) as follows:
| | | For the Period December 1, 2018
through November 30, 2019 | | | For the Period December 1, 2019
through November 30, 2020 | |
| | | Investor
Class | | | Service
Class | | | Investor
Class | | | Service
Class | |
| Banks UltraSector ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.78 | % | | | 2.78 | % |
| Basic Materials UltraSector ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.78 | % | | | 2.78 | % |
| Bear ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| Biotechnology UltraSector ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| Bull ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| Communication Services UltraSector ProFund | | | 1.78 | % | | | 2.78 | % | | | 1.95 | % | | | 2.95 | % |
| Consumer Goods UltraSector ProFund | | | 1.78 | % | | | 2.78 | % | | | 1.78 | % | | | 2.78 | % |
| Consumer Services UltraSector ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| Europe 30 ProFund | | | 1.78 | % | | | 2.78 | % | | | 1.78 | % | | | 2.78 | % |
| Falling U.S. Dollar ProFund | | | 1.78 | % | | | 2.78 | % | | | 1.78 | % | | | 2.78 | % |
| Financials UltraSector ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| Health Care UltraSector ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| Industrials UltraSector ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.78 | % | | | 2.78 | % |
| Internet UltraSector ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| Large-Cap Growth ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| Large-Cap Value ProFund | | | 1.78 | % | | | 2.78 | % | | | 1.78 | % | | | 2.78 | % |
| Mid-Cap ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| Mid-Cap Growth ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| Mid-Cap Value ProFund | | | 1.78 | % | | | 2.78 | % | | | 1.78 | % | | | 2.78 | % |
| Nasdaq-100 ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| Oil & Gas UltraSector ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| Oil Equipment & Services UltraSector ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.78 | % | | | 2.78 | % |
| Pharmaceuticals UltraSector ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.78 | % | | | 2.78 | % |
| Precious Metals UltraSector ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| Real Estate UltraSector ProFund | | | 1.78 | % | | | 2.78 | % | | | 1.95 | % | | | 2.95 | % |
| Rising Rates Opportunity ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| Rising Rates Opportunity 10 ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.78 | % | | | 2.78 | % |
January 31, 2020 (unaudited):: Notes to Financial Statements :: 287
| | | For the Period December 1, 2018
through November 30, 2019 | | | For the Period December 1, 2019
through November 30, 2020 | |
| | | Investor
Class | | | Service
Class | | | Investor
Class | | | Service
Class | |
| Rising U.S. Dollar ProFund | | | 1.78 | % | | | 2.78 | % | | | 1.78 | % | | | 2.78 | % |
| Semiconductor UltraSector ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| Short Nasdaq-100 ProFund | | | 1.78 | % | | | 2.78 | % | | | 1.78 | % | | | 2.78 | % |
| Short Oil & Gas ProFund | | | 1.78 | % | | | 2.78 | % | | | 1.78 | % | | | 2.78 | % |
| Short Precious Metals ProFund | | | 1.78 | % | | | 2.78 | % | | | 1.78 | % | | | 2.78 | % |
| Short Real Estate ProFund | | | 1.78 | % | | | 2.78 | % | | | 1.78 | % | | | 2.78 | % |
| Short Small-Cap ProFund | | | 1.78 | % | | | 2.78 | % | | | 1.78 | % | | | 2.78 | % |
| Small-Cap ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| Small-Cap Growth ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| Small-Cap Value ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| Technology UltraSector ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| Telecommunications UltraSector ProFund | | | 1.78 | % | | | 2.78 | % | | | 1.78 | % | | | 2.78 | % |
| U.S. Government Plus ProFund | | | 1.70 | % | | | 2.70 | % | | | 1.70 | % | | | 2.70 | % |
| UltraBear ProFund | | | 1.78 | % | | | 2.78 | % | | | 1.78 | % | | | 2.78 | % |
| UltraBull ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| UltraChina ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| UltraDow 30 ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| UltraEmerging Markets ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.78 | % | | | 2.78 | % |
| UltraInternational ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.78 | % | | | 2.78 | % |
| UltraJapan ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.78 | % | | | 2.78 | % |
| UltraLatin America ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| UltraMid-Cap ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| UltraNasdaq-100 ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| UltraShort China ProFund | | | 1.78 | % | | | 2.78 | % | | | 1.78 | % | | | 2.78 | % |
| UltraShort Dow 30 ProFund | | | 1.78 | % | | | 2.78 | % | | | 1.78 | % | | | 2.78 | % |
| UltraShort Emerging Markets ProFund | | | 1.78 | % | | | 2.78 | % | | | 1.78 | % | | | 2.78 | % |
| UltraShort International ProFund | | | 1.78 | % | | | 2.78 | % | | | 1.78 | % | | | 2.78 | % |
| UltraShort Japan ProFund | | | 1.78 | % | | | 2.78 | % | | | 1.78 | % | | | 2.78 | % |
| UltraShort Latin America ProFund | | | 1.78 | % | | | 2.78 | % | | | 1.78 | % | | | 2.78 | % |
| UltraShort Mid-Cap ProFund | | | 1.78 | % | | | 2.78 | % | | | 1.78 | % | | | 2.78 | % |
| UltraShort Nasdaq-100 ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| UltraShort Small-Cap ProFund | | | 1.78 | % | | | 2.78 | % | | | 1.78 | % | | | 2.78 | % |
| UltraSmall-Cap ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| Utilities UltraSector ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
The Advisor may recoup the advisory and management services fees contractually waived or limited and other expenses reimbursed by it within three years of the end of the contractual period; however, such recoupment will be limited to the lesser of any expense limitation in place at the time of recoupment or the expense limitation in place at the time of waiver or reimbursement. Any amounts recouped by the Advisor during the period are reflected on the Statement of Operations as "Recoupment of prior expenses reduced by the Advisor." As of January 31, 2020, the recoupments that may potentially be made by the ProFunds are as follows:
| | | Expires
11/30/20 | | | Expires
11/30/21 | | | Expires
11/30/22 | | | Expires
11/30/23 | | | Total | |
| Basic Materials UltraSector ProFund | | $ | — | | | $ | — | | | $ | 10,140 | | | $ | 3,766 | | | $ | 13,906 | |
| Communication Services UltraSector ProFund | | | 3,131 | | | | 12,234 | | | | — | | | | 2,942 | | | | 18,307 | |
| Consumer Goods UltraSector ProFund | | | — | | | | — | | | | 17,697 | | | | 2,479 | | | | 20,176 | |
| Europe 30 ProFund | | | — | | | | 21,134 | | | | 21,547 | | | | 2,929 | | | | 45,610 | |
| Falling U.S. Dollar ProFund | | | 67,267 | | | | 37,906 | | | | 58,781 | | | | — | | | | 163,954 | |
| Industrials UltraSector ProFund | | | — | | | | — | | | | 1,419 | | | | 2,622 | | | | 4,041 | |
| Mid-Cap Value ProFund | | | 4,060 | | | | 2,811 | | | | 3,030 | | | | 2,371 | | | | 12,272 | |
| Oil Equipment & Services UltraSector ProFund | | | — | | | | — | | | | 1,279 | | | | 3,720 | | | | 4,999 | |
| Pharmaceuticals UltraSector ProFund | | | — | | | | — | | | | 15,038 | | | | 3,233 | | | | 18,271 | |
| Rising Rates Opportunity 10 ProFund | | | — | | | | — | | | | 11,583 | | | | 3,893 | | | | 15,476 | |
| Rising U.S. Dollar ProFund | | | — | | | | — | | | | 27,305 | | | | — | | | | 27,305 | |
| Short NASDAQ-100 ProFund | | | 33,906 | | | | 20,518 | | | | 23,679 | | | | 4,140 | | | | 82,243 | |
| Short Oil & Gas ProFund | | | 24,991 | | | | 21,626 | | | | 34,181 | | | | 3,780 | | | | 84,578 | |
| Short Precious Metals ProFund | | | 8,141 | | | | 26,832 | | | | 27,268 | | | | 4,666 | | | | 66,907 | |
| Short Real Estate ProFund | | | 36,563 | | | | 20,084 | | | | 25,295 | | | | 7,394 | | | | 89,336 | |
| Short Small-Cap ProFund | | | 20,557 | | | | 28,002 | | | | 27,437 | | | | 9,540 | | | | 85,536 | |
| Small-Cap ProFund | | | — | | | | — | | | | — | | | | 3,869 | | | | 3,869 | |
| Telecommunications UltraSector ProFund | | | 33,788 | | | | 16,381 | | | | 24,863 | | | | 12,134 | | | | 87,166 | |
| UltraBear ProFund | | | — | | | | 13,813 | | | | 3,557 | | | | 4,520 | | | | 21,890 | |
288 :: Notes to Financial Statements ::January 31, 2020 (unaudited)
| | | Expires
11/30/20 | | | Expires
11/30/21 | | | Expires
11/30/22 | | | Expires
11/30/23 | | | Total | |
| UltraEmerging Markets ProFund | | $ | — | | | $ | — | | | $ | — | | | $ | 1,271 | | | $ | 1,271 | |
| UltraInternational ProFund | | | — | | | | — | | | | 12,789 | | | | 2,981 | | | | 15,770 | |
| UltraShort China ProFund | | | 30,039 | | | | 10,413 | | | | 26,295 | | | | 13,642 | | | | 80,389 | |
| UltraShort Dow 30 ProFund | | | 17,495 | | | | 16,346 | | | | 24,097 | | | | 3,943 | | | | 61,881 | |
| UltraShort Emerging Markets ProFund | | | 32,563 | | | | 12,691 | | | | 29,588 | | | | 4,799 | | | | 79,641 | |
| UltraShort International ProFund | | | 15,375 | | | | 10,764 | | | | 35,034 | | | | 5,477 | | | | 66,650 | |
| UltraShort Japan ProFund | | | 41,015 | | | | 33,225 | | | | 39,480 | | | | 4,152 | | | | 117,872 | |
| UltraShort Latin America ProFund | | | — | | | | 31,376 | | | | 27,687 | | | | 3,840 | | | | 62,903 | |
| UltraShort Mid-Cap ProFund | | | 21,994 | | | | 24,407 | | | | 23,943 | | | | 4,515 | | | | 74,859 | |
| UltraShort Small-Cap ProFund | | | — | | | | 61,787 | | | | 50,543 | | | | 6,143 | | | | 118,473 | |
5. Securities Transactions
The cost of security purchases and the proceeds from the sale of securities (excluding securities maturing less than one year from acquisition) during the period ended January 31, 2020 were as follows:
| | | Purchases | | | Sales | |
| Banks UltraSector ProFund | | $ | 21,435,241 | | | $ | 22,311,075 | |
| Basic Materials UltraSector ProFund | | | 1,319,226 | | | | 1,770,762 | |
| Biotechnology UltraSector ProFund | | | 32,415,920 | | | | 33,714,285 | |
| Bull ProFund | | | 28,906,873 | | | | 23,757,556 | |
| Communication Services UltraSector ProFund | | | 3,124,088 | | | | 5,365,855 | |
| Consumer Goods UltraSector ProFund | | | 5,174,059 | | | | 3,206,505 | |
| Consumer Services UltraSector ProFund | | | 25,247,042 | | | | 56,238,166 | |
| Europe 30 ProFund | | | 38,252,739 | | | | 37,506,959 | |
| Financials UltraSector ProFund | | | 30,386,289 | | | | 53,102,045 | |
| Health Care UltraSector ProFund | | | 31,653,327 | | | | 10,624,783 | |
| Industrials UltraSector ProFund | | | 3,096,353 | | | | 3,493,916 | |
| Internet UltraSector ProFund | | | 22,705,985 | | | | 58,316,427 | |
| Large-Cap Growth ProFund | | | 67,550,847 | | | | 75,825,318 | |
| Large-Cap Value ProFund | | | 65,803,947 | | | | 55,748,701 | |
| Mid-Cap ProFund | | | 9,763,100 | | | | 7,719,847 | |
| Mid-Cap Growth ProFund | | | 20,920,571 | | | | 33,077,755 | |
| Mid-Cap Value ProFund | | | 10,015,527 | | | | 10,791,109 | |
| Nasdaq-100 ProFund | | | 7,108,548 | | | | 3,626,827 | |
| Oil & Gas UltraSector ProFund | | | 1,199,944 | | | | 1,923,804 | |
| Oil Equipment & Services UltraSector ProFund | | | 12,133,104 | | | | 11,466,664 | |
| Pharmaceuticals UltraSector ProFund | | | 2,880,336 | | | | 2,913,599 | |
| Precious Metals UltraSector ProFund | | | 24,391,139 | | | | 20,516,243 | |
| Real Estate UltraSector ProFund | | | 27,009,343 | | | | 40,197,200 | |
| Semiconductor UltraSector ProFund | | | 118,457,375 | | | | 25,820,262 | |
| Small-Cap ProFund | | | 2,105,102 | | | | 4,069,125 | |
| Small-Cap Growth ProFund | | | 33,598,012 | | | | 34,655,518 | |
| Small-Cap Value ProFund | | | 32,643,184 | | | | 32,117,334 | |
| Technology UltraSector ProFund | | | 55,972,986 | | | | 55,344,547 | |
| Telecommunications UltraSector ProFund | | | 878,285 | | | | 1,125,827 | |
| UltraBull ProFund | | | 63,218,613 | | | | 85,835,536 | |
| UltraChina ProFund | | | 24,901,239 | | | | 30,511,558 | |
| UltraDow 30 ProFund | | | — | | | | 2,005,163 | |
| UltraEmerging Markets ProFund | | | 15,594,730 | | | | 15,039,363 | |
| UltraLatin America ProFund | | | 19,304,953 | | | | 22,287,465 | |
| UltraMid-Cap ProFund | | | 20,762,763 | | | | 25,391,216 | |
| UltraNasdaq-100 ProFund | | | 60,131,638 | | | | 20,361,990 | |
| UltraSmall-Cap ProFund | | | 21,095,390 | | | | 26,159,834 | |
| Utilities UltraSector ProFund | | | 93,784,051 | | | | 91,823,052 | |
The cost of U.S. government security purchases and the proceeds from the sale of U.S. government securities (excluding securities maturing less than one year from acquisition) during the period ended January 31, 2020 were as follows:
| | | Purchases | | | Sales | |
| U.S. Government Plus ProFund | | $ | 25,397,372 | | | $ | 25,309,331 | |
January 31, 2020 (unaudited):: Notes to Financial Statements :: 289
6. Investment Risks
Some risks apply to all ProFunds, while others are specific to the investment strategy of certain ProFunds. Each ProFund may be subject to other risks in addition to these identified risks. This section discusses certain common principal risks encountered by the ProFunds.
Risks Associated with the Use of Derivatives
Certain ProFunds may obtain investment exposure through derivatives. Investing in derivatives may be considered aggressive and may expose the ProFund to greater risks and may result in larger losses or smaller gains than investing directly in the reference asset(s) underlying those derivatives (e.g., securities in the Index). These risks include counterparty risk, liquidity risk and increased correlation risk. When the ProFund uses derivatives, there may be imperfect correlation between the value of the reference asset(s) underlying the derivative (e.g., securities in the Index) and the derivative, which may prevent the ProFund from achieving its investment objective. Because derivatives often require only a limited initial investment, the use of derivatives also may expose the ProFund to losses in excess of those amounts initially invested.
Certain ProFunds may use a combination of swaps on the Index and swaps on an ETF that is designed to track the performance of the Index. The performance of an ETF may not track the performance of the Index due to embedded costs and other factors. Thus, to the extent the Fund invests in swaps that use an ETF as the reference asset, each Fund may be subject to greater correlation risk and may not achieve as high a degree of correlation with the Index as it would if the Fund only used swaps on the Index.
Moreover, with respect to the use of swap agreements, if the Index has a dramatic intraday move that causes a material decline in a ProFund's net assets, the terms of a swap agreement between the ProFund and its counterparty may permit the counterparty to immediately close out the transaction with the ProFund. In that event, the ProFund may be unable to enter into another swap agreement or invest in other derivatives to achieve the desired exposure consistent with the ProFund's investment objective. This, in turn, may prevent the ProFund from achieving its investment objective, even if the Index reverses all or a portion of its intraday move by the end of the day. As a result, the value of an investment in the ProFund may change quickly and without warning. Any costs associated with using derivatives will also have the effect of lowering the ProFund's return.
Compounding Risk
Most of the ProFunds are "geared" funds ("Geared Funds") in the sense that the ProFund has an investment objective to match a multiple, the inverse, or an inverse multiple of the performance of a benchmark on a single day, not for any other period. A "single day" is measured from the time a ProFund calculates its net asset value ("NAV") to the time of the ProFund's next NAV calculation. These Geared Funds are subject to all of the correlation risks described below. In addition, because the ProFunds have a single day investment objective, for periods greater than one day, the effect of compounding may cause the performance of a ProFund to vary from the benchmark performance (or the inverse of the benchmark performance) times the stated multiple in the ProFund objective, as applicable, before accounting for fees and ProFund expenses. As explained in greater detail in their Prospectuses, as a result of compounding, Geared Funds are unlikely to provide a simple multiple (e.g. -1x, 2x, or -2x) of a benchmark's return over periods longer than a single day.
Leverage Risk
Certain ProFunds utilize leverage (i.e., obtain investment exposure in excess of their assets) in seeking to achieve their investment objective and will lose more money in market environments adverse to their daily objective than similar funds that do not employ leverage.
Because the ProFunds that utilize leverage include multipliers of 2x, 1.5x, or 1.25x (or sometimes the inverse thereof), a single day adverse price movement of more than 50%, 67% or 80%, respectively, in a relevant benchmark, could result in the total loss of an investor's investment.
Active Investor Risk
Each ProFund permits short-term trading of its securities. In addition, the Advisor expects a significant portion of the assets invested in a ProFund to come from professional money managers and investors who use the ProFund as part of active trading or tactical asset allocation strategies. These strategies often call for frequent trading to take advantage of anticipated changes in market conditions, which could increase portfolio turnover, and may result in additional costs for the ProFund. In addition, large movements of assets into and out of the ProFund may have a negative impact on the ProFund's ability to achieve its investment objective or maintain a consistent level of operating expenses. In certain circumstances, the ProFund's expense ratio may vary from current estimates or the historical ratio disclosed in the ProFund's prospectus.
Concentration Risk
Concentration risk results from maintaining concentrated exposure to certain types of issuers, industries, market sectors, countries or geographical regions. A ProFund that concentrates its investments will be more susceptible to risks associated with that concentration. With respect to the UltraSector and Inverse Sector ProFunds, a ProFund may have significant exposure to an individual industry that constitutes a significant portion of that ProFund's benchmark. Such a ProFund will be more susceptible to the risks associated with that specific industry, which may be different from the risks generally associated with other benchmarks. Each ProFund will concentrate its investments in a particular industry or group of industries to approximately the same extent as its benchmark, up to the extent permitted by applicable regulatory guidance. Additionally, certain ProFunds that focus their investments in particular countries or geographic regions may be particularly susceptible to economic, political or regulatory events affecting those countries or regions. These ProFunds may be more volatile than a more geographically diversified ProFund. The Schedule of Portfolio Investments includes information on each ProFund's holdings, including industry and/or geographical composition, as relevant.
290 :: Notes to Financial Statements ::January 31, 2020 (unaudited)
Correlation Risk
There is no guarantee that a ProFund will achieve a high degree of correlation with its benchmark. Failure to achieve a high degree of correlation may prevent a ProFund from achieving its investment objective, and the percentage change of the ProFund's NAV each day may differ, perhaps significantly, from the percentage change of the ProFund's benchmark on such day. This may be due, among other reasons, to the impact of a limited trading market in the underlying component securities on the calculation of the benchmark.
In order to achieve a high degree of correlation with the Index, a ProFund seeks to rebalance its portfolio daily to keep exposure consistent with its investment objective. Being materially under-or overexposed to the Index may prevent the ProFund from achieving a high degree of correlation with the Index. Market disruptions or closure, regulatory restrictions, market volatility and other factors will adversely affect the ProFund's ability to adjust exposure to requisite levels. The target amount of portfolio exposure is impacted dynamically by the Index's movements. Because of this, it is unlikely that the ProFund will have perfect leveraged exposure at the end of each day and the likelihood of being materially under- or overexposed is higher on days when the Index level is volatile at or near the close of the trading day.
A number of other factors may adversely affect a ProFund's correlation with its benchmark, including material over- or underexposure, fees, expenses, transaction costs, financing costs associated with the use of derivatives, income items, valuation methodology, accounting standards and disruptions or illiquidity in the markets for the securities or financial instruments in which a ProFund invests. A ProFund may not have investment exposure to all securities in its benchmark, or its weighting of investment exposure to stocks or industries may be different from that of the benchmark. In addition, a ProFund may invest in securities not included in the benchmark or in financial instruments. Each ProFund may take or refrain from taking positions in order to improve tax efficiency or comply with regulatory restrictions, either of which may negatively affect the ProFund's correlation with its benchmark. A ProFund may also be subject to large movements of assets into and out of the ProFund, potentially resulting in the ProFund being over- or underexposed to its benchmark, and may be impacted by index reconstitutions and index rebalancing events. Additionally, a ProFund's underlying holdings or reference assets may trade on markets that may or may not be open on the same day as the ProFund. Each ProFund (other than the Classic ProFunds and the Falling U.S. Dollar ProFund) seeks to rebalance its portfolio daily to keep its leveraged, inverse or inverse leveraged exposure to the benchmark consistent with its investment objective. Any of these factors could decrease correlation between the performance of a ProFund and may hinder a ProFund's ability to meet its investment objective on or around that day.
Counterparty Risk
A ProFund that will invest in financial instruments involving third parties (i.e., counterparties) is subject to counterparty risk. The use of financial instruments, such as swap agreements or futures contracts, involves risks that are different from those associated with ordinary portfolio securities transactions. Certain ProFunds will be subject to credit risk (i.e., the risk that a counterparty is unwilling or unable to make timely payments to meet its contractual obligations) with respect to the amount they expect to receive from counterparties to financial instruments and repurchase agreements entered into by the ProFunds. Each ProFund generally structures the agreement such that either party can terminate the contract without penalty prior to the termination date. A ProFund may be negatively impacted if a counterparty becomes bankrupt or otherwise fails to perform its obligations, the value of an investment in each ProFund may decline. A ProFund may experience significant delays in obtaining any recovery in a bankruptcy or other reorganization proceeding and a ProFund may obtain only limited recovery or may obtain no recovery in such circumstances.
The ProFunds typically enter into transactions with counterparties whose credit rating at the time of the transaction is investment grade, as determined by a nationally recognized statistical rating organization, or, if unrated, judged by the Advisor to be of comparable quality. These are usually major, global financial institutions. Although the counterparty to an exchange-traded futures contract is often backed by a futures commission merchant ("FCM") or clearing organization that is further backed by a group of financial institutions, there may be instances in which the FCM or the clearing organization could fail to perform its obligations, causing significant losses to the ProFund. For example, a ProFund could lose margin payments it has deposited with a clearing organization as well as gains owed but not paid to the ProFund if the clearing organization becomes insolvent or otherwise fails to perform its obligations.
Under current CFTC regulations, a FCM maintains customers' assets in a bulk segregated account. If a FCM fails to do so, or is unable to satisfy a substantial deficit in a customer account, its other customers may be subject to risk of loss of their funds in the event of that FCM's bankruptcy. In that event, in the case of futures, the FCM's customers are entitled to recover, even in respect of property specifically traceable to them, only a proportional share of all property available for distribution to all of that FCM's customers.
Debt Instruments Risk
The ProFunds may invest in, or seek exposure to, debt instruments. Debt instruments are subject to adverse issuer, political, regulatory, market and economic developments, as well as developments that affect specific economic sectors, industries or segments of the fixed income market. Additionally, the credit quality of the issuer of a debt instrument (including the risk of a potential default) can also affect the price of a debt instrument. The perceived or actual inability of issuers, guarantors, or liquidity providers of debt instruments to make scheduled interest payments can negatively impact the performance of the ProFund. Debt instruments may have varying levels of sensitivity to changes in interest rates and other factors. Typically, the price of outstanding debt instruments falls when interest rates rise. Without taking into account other factors, the prices of debt instruments with longer maturities may fluctuate more in response to interest rate changes than those of debt instruments with shorter maturities. In addition, changes in the credit quality of the issuer of a debt instrument (including a default) can also affect the price of a debt instrument. Many types of debt instruments are subject to prepayment risk, which is the
January 31, 2020 (unaudited):: Notes to Financial Statements :: 291
risk that the issuer of the security will repay principal (in part or in whole) prior to the maturity date. Debt instruments allowing prepayment may offer less potential for gains during a period of declining interest rates, as a ProFund may be required to reinvest the proceeds received at lower interest rates. These factors may cause the value of an investment in the ProFund to change. Also, the securities of certain U.S. government agencies, authorities or instrumentalities are neither issued by nor guaranteed as to principal and interest by the U.S. government, and may be exposed to more credit risk than those issued by and guaranteed as to principal and interest by the U.S. government. All U.S. government securities are subject to credit risk. It is possible that the U.S. government may not be able to meet its financial obligations or that securities issued by the U.S. government may experience credit downgrades. Such a credit event may also adversely impact the financial markets. Certain ProFunds are inversely correlated to bond prices and will typically respond differently to the above factors than would a ProFund positively correlated to bond prices.
Index Performance Risk
Certain ProFunds linked to an index will be subject to index performance risk. There is no guarantee or assurance that the methodology used by the third-party provider to create the Index will result in the ProFund achieving high, or even positive, returns.
Further, there can be no guarantee that the methodology underlying the Index or the daily calculation of the Index will be free from error. It is also possible that the value of the Index may be subject to intentional manipulation by third-party market participants. The Index may underperform, and the ProFund could lose value, while other indices or measures of market performance increase in value.
Liquidity Risk
In certain circumstances, such as the disruption of the orderly markets for the securities or financial instruments in which a ProFund invests, the ProFunds might not be able to acquire or dispose of certain holdings quickly or at prices that represent true fair value in the judgment of the Advisor. Markets for the securities or financial instruments in which a ProFund invests may be disrupted by a number of events, including but not limited to economic crises, natural disasters, new legislation, or regulatory changes inside or outside of the U.S. For example, regulation limiting the ability of certain financial institutions to invest in certain securities would likely reduce the liquidity of those securities. These situations may prevent a ProFund from limiting losses, realizing gains, or from achieving a high correlation (or inverse correlation) with its underlying benchmark.
7. Federal Income Tax Information
The tax character of distributions paid to shareholders during the applicable tax years ended as noted below, were as follows:
| | | Year Ended 2019 | | | Year Ended 2018 | |
| | | Distributions
Paid from
Ordinary
Income | | | Distributions
Paid from
Net Long-Term
Capital Gains | | | Tax Return
of Capital | | | Total
Distributions
Paid | | | Distributions
Paid from
Ordinary
Income | | | Distributions
Paid from
Net Long-Term
Capital Gains | | | Tax Return
of Capital | | | Total
Distributions
Paid | |
| December 31 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Bear ProFund | | $ | 43,064 | | | $ | — | | | $ | — | | | $ | 43,064 | | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
| Bull ProFund | | | 1,081,038 | | | | 76,752 | | | | — | | | | 1,157,790 | | | | 86,910 | | | | 292,455 | | | | — | | | | 379,365 | |
| Europe 30 ProFund | | | 39,836 | | | | — | | | | — | | | | 39,836 | | | | 274,422 | | | | — | | | | — | | | | 274,422 | |
| UltraBull ProFund | | | 651,715 | | | | — | | | | — | | | | 651,715 | | | | 630,551 | | | | 139,612 | | | | — | | | | 770,163 | |
| UltraJapan ProFund | | | — | | | | — | | | | — | | | | — | | | | — | | | | 428,375 | | | | — | | | | 428,375 | |
| UltraNasdaq-100 ProFund | | | 32,830,742 | | | | — | | | | — | | | | 32,830,742 | | | | 22,095,505 | | | | 1,274,905 | | | | — | | | | 23,370,410 | |
| UltraShort Nasdaq-100 ProFund | | | 48,964 | | | | — | | | | — | | | | 48,964 | | | | — | | | | — | | | | — | | | | — | |
| October 31 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Banks UltraSector ProFund | | | 119,956 | | | | — | | | | — | | | | 119,956 | | | | — | | | | — | | | | — | | | | — | |
| Biotechnology UltraSector ProFund | | | — | | | | 10,305,610 | | | | — | | | | 10,305,610 | | | | 10,793,733 | | | | 9,367,473 | | | | — | | | | 20,161,206 | |
| Consumer Goods UltraSector ProFund | | | 66,178 | | | | — | | | | — | | | | 66,178 | | | | 64,925 | | | | 117,269 | | | | — | | | | 182,194 | |
| Consumer Services UltraSector ProFund | | | 1,852,834 | | | | 210,263 | | | | — | | | | 2,063,097 | | | | 981,389 | | | | 878 | | | | — | | | | 982,267 | |
| Health Care UltraSector ProFund | | | 14,197 | | | | — | | | | — | | | | 14,197 | | | | 1,865,832 | | | | 587,296 | | | | — | | | | 2,453,128 | |
| Industrials UltraSector ProFund | | | — | | | | — | | | | — | | | | — | | | | 1,305,511 | | | | 18,686 | | | | — | | | | 1,324,197 | |
| Internet UltraSector ProFund | | | — | | | | — | | | | — | | | | — | | | | 13,316,363 | | | | 1,921,311 | | | | — | | | | 15,237,674 | |
| Large-Cap Growth ProFund | | | 394,294 | | | | 61,365 | | | | — | | | | 455,659 | | | | 323,858 | | | | 25,039 | | | | — | | | | 348,897 | |
| Large-Cap Value ProFund | | | 175,168 | | | | 10,206 | | | | — | | | | 185,374 | | | | 143,138 | | | | 15,927 | | | | — | | | | 159,065 | |
| Mid-Cap ProFund | | | 112,842 | | | | 363,737 | | | | — | | | | 476,579 | | | | 3,828,645 | | | | 183,129 | | | | — | | | | 4,011,774 | |
| Mid-Cap Value ProFund | | | 55,224 | | | | 102,228 | | | | — | | | | 157,452 | | | | 446,147 | | | | 470,659 | | | | — | | | | 916,806 | |
| Nasdaq-100 ProFund | | | — | | | | — | | | | — | | | | — | | | | 652,502 | | | | — | | | | — | | | | 652,502 | |
| Oil & Gas UltraSector ProFund | | | 268,584 | | | | — | | | | — | | | | 268,584 | | | | 211,425 | | | | — | | | | — | | | | 211,425 | |
| Oil Equipment & Services UltraSector ProFund | | | 107,482 | | | | — | | | | — | | | | 107,482 | | | | 249,568 | | | | — | | | | — | | | | 249,568 | |
| Pharmaceuticals UltraSector ProFund | | | 10,252 | | | | 223,296 | | | | 751 | | | | 234,299 | | | | 232,114 | | | | 251,075 | | | | — | | | | 483,189 | |
292 :: Notes to Financial Statements ::January 31, 2020 (unaudited)
| | | Year Ended 2019 | | | Year Ended 2018 | |
| | | Distributions
Paid from
Ordinary
Income | | | Distributions
Paid from
Net Long-Term
Capital Gains | | | Tax Return
of Capital | | | Total
Distributions
Paid | | | Distributions
Paid from
Ordinary
Income | | | Distributions
Paid from
Net Long-Term
Capital Gains | | | Tax Return
of Capital | | | Total
Distributions
Paid | |
| Real Estate UltraSector ProFund | | $ | 727,007 | | | $ | — | | | $ | — | | | $ | 727,007 | | | $ | 30,258 | | | $ | — | | | $ | — | | | $ | 30,258 | |
| Rising U.S. Dollar ProFund | | | 4,667 | | | | 99,020 | | | | — | | | | 103,687 | | | | — | | | | — | | | | — | | | | — | |
| Semiconductor UltraSector ProFund | | | 3,476,900 | | | | 9,999,137 | | | | — | | | | 13,476,037 | | | | 25,581,991 | | | | 38,225 | | | | — | | | | 25,620,216 | |
| Small-Cap Growth ProFund | | | 329,395 | | | | 638,299 | | | | — | | | | 967,694 | | | | — | | | | — | | | | — | | | | — | |
| Small-Cap Value ProFund | | | 182,542 | | | | 199,434 | | | | — | | | | 381,976 | | | | — | | | | — | | | | — | | | | — | |
| Technology UltraSector ProFund | | | 60,390 | | | | — | | | | — | | | | 60,390 | | | | 2,760,024 | | | | 127,584 | | | | — | | | | 2,887,608 | |
| Telecommunications UltraSector ProFund | | | 37,414 | | | | — | | | | — | | | | 37,414 | | | | 157,415 | | | | — | | | | — | | | | 157,415 | |
| U.S. Government Plus ProFund | | | 287,057 | | | | — | | | | — | | | | 287,057 | | | | 66,420 | | | | — | | | | — | | | | 66,420 | |
| UltraChina ProFund | | | — | | | | — | | | | — | | | | — | | | | 348,918 | | | | — | | | | — | | | | 348,918 | |
| UltraDow 30 ProFund | | | 250,371 | | | | — | | | | — | | | | 250,371 | | | | 1,336,450 | | | | 228,620 | | | | — | | | | 1,565,070 | |
| UltraEmerging Markets ProFund | | | 73,918 | | | | — | | | | — | | | | 73,918 | | | | 66,295 | | | | — | | | | — | | | | 66,295 | |
| UltraLatin America ProFund | | | 455,847 | | | | — | | | | — | | | | 455,847 | | | | 70,434 | | | | — | | | | — | | | | 70,434 | |
| UltraMid-Cap ProFund | | | 64,061 | | | | — | | | | — | | | | 64,061 | | | | 5,954,301 | | | | 1,374,407 | | | | — | | | | 7,328,708 | |
| UltraSmall-Cap ProFund | | | 37,378 | | | | — | | | | — | | | | 37,378 | | | | 673,876 | | | | 76,680 | | | | — | | | | 750,556 | |
| Utilities UltraSector ProFund | | | 270,878 | | | | — | | | | — | | | | 270,878 | | | | 219,635 | | | | — | | | | — | | | | 219,635 | |
As of the latest tax year ended, as noted below, the components of accumulated earnings (deficit) on a tax basis were as follows:
| | | Undistributed
Ordinary
Income | | | Undistributed
Long-Term
Capital Gains | | | Distributions
Payable | | | Accumulated
Capital and
Other Losses | | | Unrealized
Appreciation
(Depreciation) | | | Total
Accumulated
Earnings
(Deficit) | |
| December 31 | | | | | | | | | | | | | | | | | | | | | | | | |
| Bear ProFund | | $ | 8,361 | | | $ | — | | | $ | — | | | $ | (60,157,562 | ) | | $ | 45,341 | | | $ | (60,103,860 | ) |
| Bull ProFund | | | 1,751,393 | | | | — | | | | — | | | | — | | | | 27,615,854 | | | | 29,367,247 | |
| Europe 30 ProFund | | | 104,574 | | | | — | | | | — | | | | (4,069,998 | ) | | | 216,349 | | | | (3,749,075 | ) |
| UltraBear ProFund | | | — | | | | — | | | | — | | | | (85,601,846 | ) | | | 41,110 | | | | (85,560,736 | ) |
| UltraBull ProFund | | | 9,635,915 | | | | 4,133,498 | | | | — | | | | (26,035 | ) | | | 36,647,735 | | | | 50,391,113 | |
| UltraJapan ProFund | | | — | | | | — | | | | — | | | | (118,372 | ) | | | (1,961 | ) | | | (120,333 | ) |
| UltraNasdaq-100 ProFund | | | 33,033,677 | | | | 8,972,312 | | | | — | | | | — | | | | 210,616,879 | | | | 252,622,868 | |
| UltraShort Nasdaq-100 ProFund | | | 6,099 | | | | — | | | | — | | | | (59,029,142 | ) | | | 117,848 | | | | (58,905,195 | ) |
| October 31 | | | | | | | | | | | | | | | | | | | | | | | | |
| Banks UltraSector ProFund | | | 104,482 | | | | — | | | | — | | | | — | | | | 4,261,585 | | | | 4,366,067 | |
| Basic Materials UltraSector ProFund | | | — | | | | — | | | | — | | | | (1,168,535 | ) | | | 1,148,585 | | | | (19,950 | ) |
| Biotechnology UltraSector ProFund | | | — | | | | 6,477,014 | | | | — | | | | — | | | | 66,540,282 | | | | 73,017,296 | |
| Communication Services UltraSector ProFund | | | 181,872 | | | | — | | | | — | | | | — | | | | 153,940 | | | | 335,812 | |
| Consumer Goods UltraSector ProFund | | | 81,053 | | | | 61,788 | | | | — | | | | — | | | | 1,615,414 | | | | 1,758,255 | |
| Consumer Services UltraSector ProFund | | | — | | | | — | | | | — | | | | (105,300 | ) | | | 20,224,994 | | | | 20,119,694 | |
| Falling U.S. Dollar ProFund | | | — | | | | — | | | | — | | | | (2,466,400 | ) | | | — | | | | (2,466,400 | ) |
| Financials UltraSector ProFund | | | 187,471 | | | | — | | | | — | | | | — | | | | 1,230,593 | | | | 1,418,064 | |
| Health Care UltraSector ProFund | | | 12,104 | | | | — | | | | — | | | | (6,284,025 | ) | | | 7,265,508 | | | | 993,587 | |
| Industrials UltraSector ProFund | | | — | | | | — | | | | — | | | | (2,283,597 | ) | | | 2,807,220 | | | | 523,623 | |
| Internet UltraSector ProFund | | | 171,657 | | | | — | | | | — | | | | (1,440,920 | ) | | | 55,819,301 | | | | 54,550,038 | |
| Large-Cap Growth ProFund | | | 341,770 | | | | 492,387 | | | | — | | | | — | | | | 9,740,900 | | | | 10,575,057 | |
| Large-Cap Value ProFund | | | — | | | | — | | | | — | | | | — | | | | 1,680,491 | | | | 1,680,491 | |
| Mid-Cap ProFund | | | 6,413 | | | | 338,696 | | | | — | | | | — | | | | 1,775,074 | | | | 2,120,183 | |
| Mid-Cap Growth ProFund | | | — | | | | — | | | | — | | | | (680,299 | ) | | | 1,457,557 | | | | 777,258 | |
| Mid-Cap Value ProFund | | | 21,081 | | | | — | | | | — | | | | (913,718 | ) | | | 626,520 | | | | (266,117 | ) |
| Nasdaq-100 ProFund | | | 498,351 | | | | 387,755 | | | | — | | | | — | | | | 35,820,504 | | | | 36,706,610 | |
| Oil & Gas UltraSector ProFund | | | 102,412 | | | | — | | | | — | | | | (11,006,519 | ) | | | 3,713,239 | | | | (7,190,868 | ) |
| Oil Equipment & Services UltraSector ProFund | | | — | | | | — | | | | — | | | | (12,671,964 | ) | | | (3,260,075 | ) | | | (15,932,039 | ) |
| Pharmaceuticals UltraSector ProFund | | | — | | | | — | | | | — | | | | (605,161 | ) | | | 593,217 | | | | (11,944 | ) |
| Precious Metals UltraSector ProFund | | | — | | | | — | | | | — | | | | (61,798,060 | ) | | | 4,996,717 | | | | (56,801,343 | ) |
January 31, 2020 (unaudited):: Notes to Financial Statements :: 293
| | | Undistributed
Ordinary
Income | | | Undistributed
Long-Term
Capital Gains | | | Distributions
Payable | | | Accumulated
Capital and
Other Losses | | | Unrealized
Appreciation
(Depreciation) | | | Total
Accumulated
Earnings
(Deficit) | |
| Real Estate UltraSector ProFund | | $ | 279,968 | | | $ | — | | | $ | — | | | $ | — | | | $ | 4,684,213 | | | $ | 4,964,181 | |
| Rising Rates Opportunity ProFund | | | 188,441 | | | | — | | | | — | | | | (46,880,479 | ) | | | (160,660 | ) | | | (46,852,698 | ) |
| Rising Rates Opportunity 10 ProFund | | | 17,678 | | | | — | | | | — | | | | (3,832,610 | ) | | | (26,643 | ) | | | (3,841,575 | ) |
| Rising U.S. Dollar ProFund | | | 23,144 | | | | — | | | | — | | | | — | | | | — | | | | 23,144 | |
| Semiconductor UltraSector ProFund | | | — | | | | — | | | | — | | | | — | | | | 17,807,917 | | | | 17,807,917 | |
| Short Nasdaq-100 ProFund | | | 11,298 | | | | — | | | | — | | | | (18,741,578 | ) | | | 12,994 | | | | (18,717,286 | ) |
| Short Oil & Gas ProFund | | | 4,714 | | | | — | | | | — | | | | (1,570,763 | ) | | | 45,549 | | | | (1,520,500 | ) |
| Short Precious Metals ProFund | | | 18,058 | | | | — | | | | — | | | | (9,602,715 | ) | | | (224,085 | ) | | | (9,808,742 | ) |
| Short Real Estate ProFund | | | — | | | | — | | | | — | | | | (4,012,029 | ) | | | 7,916 | | | | (4,004,113 | ) |
| Short Small-Cap ProFund | | | 7,330 | | | | — | | | | — | | | | (12,065,363 | ) | | | 5,326 | | | | (12,052,707 | ) |
| Small-Cap ProFund | | | — | | | | — | | | | — | | | | (852,731 | ) | | | 739,522 | | | | (113,209 | ) |
| Small-Cap Growth ProFund | | | — | | | | — | | | | — | | | | (3,017,727 | ) | | | 1,740,059 | | | | (1,277,668 | ) |
| Small-Cap Value ProFund | | | 3,975 | | | | — | | | | — | | | | (644,647 | ) | | | 539,437 | | | | (101,235 | ) |
| Technology UltraSector ProFund | | | — | | | | — | | | | — | | | | (12,296,562 | ) | | | 16,851,393 | | | | 4,554,831 | |
| Telecommunications UltraSector ProFund | | | 20,443 | | | | — | | | | — | | | | (5,725,837 | ) | | | 140,121 | | | | (5,565,273 | ) |
| U.S. Government Plus ProFund | | | — | | | | — | | | | (7,043 | ) | | | — | | | | 113,283 | | | | 106,240 | |
| UltraChina ProFund | | | 18,539 | | | | — | | | | — | | | | (10,099,928 | ) | | | 338,868 | | | | (9,742,521 | ) |
| UltraDow 30 ProFund | | | 617,373 | | | | — | | | | — | | | | — | | | | 13,179,007 | | | | 13,796,380 | |
| UltraEmerging Markets ProFund | | | — | | | | — | | | | — | | | | (9,187,173 | ) | | | 1,792,938 | | | | (7,394,235 | ) |
| UltraInternational ProFund | | | — | | | | — | | | | — | | | | (754,565 | ) | | | 19,790 | | | | (734,775 | ) |
| UltraLatin America ProFund | | | 315,986 | | | | — | | | | — | | | | (17,330,405 | ) | | | (258,111 | ) | | | (17,272,530 | ) |
| UltraMid-Cap ProFund | | | 954,118 | | | | 656,232 | | | | — | | | | — | | | | 10,283,536 | | | | 11,893,886 | |
| UltraShort China ProFund | | | 14,251 | | | | — | | | | — | | | | (5,629,210 | ) | | | 75,788 | | | | (5,539,171 | ) |
| UltraShort Dow 30 ProFund | | | 13,291 | | | | — | | | | — | | | | (17,508,222 | ) | | | 13,128 | | | | (17,481,803 | ) |
| UltraShort Emerging Markets ProFund | | | 7,510 | | | | — | | | | — | | | | (11,454,184 | ) | | | 40,363 | | | | (11,406,311 | ) |
| UltraShort International ProFund | | | 15,691 | | | | — | | | | — | | | | (14,671,366 | ) | | | (4,635 | ) | | | (14,660,310 | ) |
| UltraShort Japan ProFund | | | — | | | | — | | | | — | | | | (10,447,017 | ) | | | 1,438 | | | | (10,445,579 | ) |
| UltraShort Latin America ProFund | | | 12,538 | | | | — | | | | — | | | | (14,159,837 | ) | | | 167,400 | | | | (13,979,899 | ) |
| UltraShort Mid-Cap ProFund | | | 7,614 | | | | — | | | | — | | | | (7,897,212 | ) | | | 23,894 | | | | (7,865,704 | ) |
| UltraShort Small-Cap ProFund | | | 17,184 | | | | — | | | | — | | | | (41,308,727 | ) | | | 50,589 | | | | (41,240,954 | ) |
| UltraSmall-Cap ProFund | | | — | | | | — | | | | — | | | | — | | | | 4,140,715 | | | | 4,140,715 | |
| Utilities UltraSector ProFund | | | 133,986 | | | | — | | | | — | | | | (155,809 | ) | | | 5,363,895 | | | | 5,342,072 | |
Under current tax law, capital and specific ordinary losses realized after October 31 may be deferred and treated as occurring on the first business day of the following tax fiscal year. As of the end of their respective tax years ended October 31, 2019 and December 31, 2019, the following ProFunds had deferred losses, which will be treated as arising on the first day of the tax fiscal years ending in October 31, 2020 and December 31, 2020:
| | | Qualified Late
Year Capital
Losses | |
December 31
tax year end ProFunds | | | | |
| UltraBull ProFund | | $ | 26,035 | |
| | | Qualified Late
Year Ordinary
Losses | |
October 31
tax year end ProFunds | | | | |
| Consumer Services UltraSector ProFund | | $ | 105,300 | |
| Industrials UltraSector ProFund | | | 12,993 | |
| Internet UltraSector ProFund | | | 1,440,920 | |
| Mid-Cap Growth ProFund | | | 48,846 | |
| Pharmaceuticals UltraSector ProFund | | | 9,160 | |
| Precious Metals UltraSector ProFund | | | 63,851 | |
| Small-Cap ProFund | | | 6,917 | |
| Small-Cap Growth ProFund | | | 83,286 | |
| Technology UltraSector ProFund | | | 49,588 | |
| UltraEmerging Markets ProFund | | | 646 | |
294 :: Notes to Financial Statements ::January 31, 2020 (unaudited)
As of the end of their respective tax years ended October 31, 2019 and December 31, 2019, the following ProFunds have capital loss carry forwards ("CLCFs") as summarized in the table below. CLCFs subject to expiration are applied as short-term capital loss regardless of whether the originating capital loss was short-term or long-term. CLCFs that are not subject to expiration must be utilized before those that are subject to expiration.
| Fund | | No Expiration
Date | |
| Basic Materials UltraSector ProFund | | $ | 1,168,535 | |
| Bear ProFund | | | 60,157,562 | |
| Europe 30 ProFund | | | 4,069,998 | |
| Falling U.S. Dollar ProFund | | | 2,466,400 | |
| Health Care UltraSector ProFund | | | 6,284,025 | |
| Industrials UltraSector ProFund | | | 2,270,604 | |
| Mid-Cap Growth ProFund | | | 631,453 | |
| Mid-Cap Value ProFund | | | 913,718 | |
| Oil & Gas UltraSector ProFund | | | 11,006,519 | |
| Oil Equipment & Services UltraSector ProFund | | | 12,671,964 | |
| Pharmaceuticals UltraSector ProFund | | | 596,001 | |
| Precious Metals UltraSector ProFund | | | 61,734,209 | |
| Rising Rates Opportunity ProFund | | | 46,880,479 | |
| Rising Rates Opportunity 10 ProFund | | | 3,832,610 | |
| Short Nasdaq-100 ProFund | | | 18,741,578 | |
| Short Oil & Gas ProFund | | | 1,570,763 | |
| Short Precious Metals ProFund | | | 9,602,715 | |
| Short Real Estate ProFund | | | 4,012,029 | |
| Short Small-Cap ProFund | | | 12,065,363 | |
| Small-Cap ProFund | | | 845,814 | |
| Small-Cap Growth ProFund | | | 2,934,441 | |
| Small-Cap Value ProFund | | | 644,647 | |
| Technology UltraSector ProFund | | | 12,246,974 | |
| Telecommunications UltraSector ProFund | | | 5,725,837 | |
| UltraBear ProFund | | | 85,601,846 | |
| UltraChina ProFund | | | 10,099,928 | |
| UltraEmerging Markets ProFund | | | 9,186,527 | |
| UltraInternational ProFund | | | 754,565 | |
| UltraJapan ProFund | | | 118,372 | |
| UltraLatin America ProFund | | | 17,330,405 | |
| UltraShort China ProFund | | | 5,629,210 | |
| UltraShort Dow 30 ProFund | | | 17,508,222 | |
| UltraShort Emerging Markets ProFund | | | 11,454,184 | |
| UltraShort International ProFund | | | 14,671,366 | |
| UltraShort Japan ProFund | | | 10,447,017 | |
| UltraShort Latin America ProFund | | | 14,159,837 | |
| UltraShort Mid-Cap ProFund | | | 7,897,212 | |
| UltraShort Nasdaq-100 ProFund | | | 59,029,142 | |
| UltraShort Small-Cap ProFund | | | 41,308,727 | |
| Utilities UltraSector ProFund | | | 155,809 | |
Unused limitations accumulate and increase limited CLCFs available for use in offsetting net capital gains. The tax character of current year distributions paid and the tax basis of the current components of accumulated earnings (deficit) and any CLCFs will be determined at the end of the current tax years. The Trust's Board of Trustees does not intend to authorize a distribution of any realized gain for a ProFund until any applicable CLCF has been offset or expires.
As of the end of their respective tax years ended October 31, 2019 and December 31, 2019, the cost, gross unrealized appreciation and gross unrealized depreciation on investment securities and derivative instruments, for federal income tax purposes, were as follows:
| | | Tax Cost | | | Tax
Unrealized
Appreciation | | | Tax
Unrealized
Depreciation | | | Net Unrealized
Appreciation
(Depreciation) | |
| December 31 | | | | | | | | | | | | | | | | |
| Bear ProFund | | $ | 14,547,374 | | | $ | 45,341 | | | $ | — | | | $ | 45,341 | |
| Bull ProFund | | | 40,560,357 | | | | 30,505,659 | | | | (2,889,805 | ) | | | 27,615,854 | |
| Europe 30 ProFund | | | 5,085,903 | | | | 1,238,559 | | | | (1,022,210 | ) | | | 216,349 | |
| UltraBear ProFund | | | 8,408,374 | | | | 41,110 | | | | — | | | | 41,110 | |
| UltraBull ProFund | | | 120,735,134 | | | | 46,901,168 | | | | (10,253,433 | ) | | | 36,647,735 | |
| UltraJapan ProFund | | | 15,324,369 | | | | — | | | | (1,961 | ) | | | (1,961 | ) |
| UltraNasdaq-100 ProFund | | | 382,813,747 | | | | 236,855,635 | | | | (26,238,756 | ) | | | 210,616,879 | |
| UltraShort Nasdaq-100 ProFund | | | 14,097,625 | | | | 117,848 | | | | — | | | | 117,848 | |
January 31, 2020 (unaudited):: Notes to Financial Statements :: 295
| | | Tax Cost | | | Tax
Unrealized
Appreciation | | | Tax
Unrealized
Depreciation | | | Net Unrealized
Appreciation
(Depreciation) | |
| October 31 | | | | | | | | | | | | | | | | |
| Banks UltraSector ProFund | | $ | 32,475,896 | | | $ | 6,702,552 | | | $ | (2,440,967 | ) | | $ | 4,261,585 | |
| Basic Materials UltraSector ProFund | | | 3,021,586 | | | | 1,888,993 | | | | (740,408 | ) | | | 1,148,585 | |
| Biotechnology UltraSector ProFund | | | 92,445,491 | | | | 72,447,299 | | | | (5,907,017 | ) | | | 66,540,282 | |
| Communication Services UltraSector ProFund | | | 7,733,441 | | | | 384,606 | | | | (230,666 | ) | | | 153,940 | |
| Consumer Goods UltraSector ProFund | | | 5,374,239 | | | | 1,774,897 | | | | (159,483 | ) | | | 1,615,414 | |
| Consumer Services UltraSector ProFund | | | 28,879,263 | | | | 21,334,500 | | | | (1,109,506 | ) | | | 20,224,994 | |
| Falling U.S. Dollar ProFund | | | 1,104,190 | | | | — | | | | — | | | | — | |
| Financials UltraSector ProFund | | | 34,375,575 | | | | 3,998,064 | | | | (2,767,471 | ) | | | 1,230,593 | |
| Health Care UltraSector ProFund | | | 9,554,429 | | | | 7,853,912 | | | | (588,404 | ) | | | 7,265,508 | |
| Industrials UltraSector ProFund | | | 6,776,260 | | | | 3,213,653 | | | | (406,433 | ) | | | 2,807,220 | |
| Internet UltraSector ProFund | | | 113,748,419 | | | | 65,630,088 | | | | (9,810,787 | ) | | | 55,819,301 | |
| Large-Cap Growth ProFund | | | 9,937,598 | | | | 10,372,868 | | | | (631,968 | ) | | | 9,740,900 | |
| Large-Cap Value ProFund | | | 25,377,167 | | | | 2,652,909 | | | | (972,418 | ) | | | 1,680,491 | |
| Mid-Cap ProFund | | | 5,014,045 | | | | 2,170,795 | | | | (395,721 | ) | | | 1,775,074 | |
| Mid-Cap Growth ProFund | | | 6,477,712 | | | | 2,197,117 | | | | (739,560 | ) | | | 1,457,557 | |
| Mid-Cap Value ProFund | | | 5,363,571 | | | | 1,517,477 | | | | (890,957 | ) | | | 626,520 | |
| Nasdaq-100 ProFund | | | 55,876,779 | | | | 37,258,849 | | | | (1,438,345 | ) | | | 35,820,504 | |
| Oil & Gas UltraSector ProFund | | | 8,559,612 | | | | 5,047,877 | | | | (1,334,638 | ) | | | 3,713,239 | |
| Oil Equipment & Services UltraSector ProFund | | | 9,212,327 | | | | 227,579 | | | | (3,487,654 | ) | | | (3,260,075 | ) |
| Pharmaceuticals UltraSector ProFund | | | 3,275,914 | | | | 1,088,201 | | | | (494,984 | ) | | | 593,217 | |
| Precious Metals UltraSector ProFund | | | 34,548,846 | | | | 12,180,747 | | | | (7,184,030 | ) | | | 4,996,717 | |
| Real Estate UltraSector ProFund | | | 45,339,060 | | | | 5,903,168 | | | | (1,218,955 | ) | | | 4,684,213 | |
| Rising Rates Opportunity ProFund | | | 11,118,000 | | | | — | | | | (160,660 | ) | | | (160,660 | ) |
| Rising Rates Opportunity 10 ProFund | | | 3,444,000 | | | | — | | | | (26,643 | ) | | | (26,643 | ) |
| Rising U.S. Dollar ProFund | | | 9,085,516 | | | | — | | | | — | | | | — | |
| Semiconductor UltraSector ProFund | | | 55,347,131 | | | | 19,292,024 | | | | (1,484,107 | ) | | | 17,807,917 | |
| Short Nasdaq-100 ProFund | | | 4,320,560 | | | | 12,994 | | | | — | | | | 12,994 | |
| Short Oil & Gas ProFund | | | 1,922,000 | | | | 45,549 | | | | — | | | | 45,549 | |
| Short Precious Metals ProFund | | | 4,303,000 | | | | — | | | | (224,085 | ) | | | (224,085 | ) |
| Short Real Estate ProFund | | | 800,000 | | | | 7,916 | | | | — | | | | 7,916 | |
| Short Small-Cap ProFund | | | 1,214,188 | | | | 5,326 | | | | — | | | | 5,326 | |
| Small-Cap ProFund | | | 3,351,472 | | | | 936,077 | | | | (196,555 | ) | | | 739,522 | |
| Small-Cap Growth ProFund | | | 10,945,700 | | | | 3,327,465 | | | | (1,587,406 | ) | | | 1,740,059 | |
| Small-Cap Value ProFund | | | 6,181,434 | | | | 1,624,447 | | | | (1,085,010 | ) | | | 539,437 | |
| Technology UltraSector ProFund | | | 28,855,424 | | | | 18,302,882 | | | | (1,451,489 | ) | | | 16,851,393 | |
| Telecommunications UltraSector ProFund | | | 1,149,059 | | | | 278,422 | | | | (138,301 | ) | | | 140,121 | |
| U.S. Government Plus ProFund | | | 39,710,543 | | | | 611,437 | | | | (498,154 | ) | | | 113,283 | |
| UltraChina ProFund | | | 22,661,745 | | | | 4,974,331 | | | | (4,635,463 | ) | | | 338,868 | |
| UltraDow 30 ProFund | | | 18,641,367 | | | | 14,102,607 | | | | (923,600 | ) | | | 13,179,007 | |
| UltraEmerging Markets ProFund | | | 13,154,640 | | | | 4,434,599 | | | | (2,641,661 | ) | | | 1,792,938 | |
| UltraInternational ProFund | | | 8,753,000 | | | | 19,790 | | | | — | | | | 19,790 | |
| UltraLatin America ProFund | | | 32,770,578 | | | | 8,946,482 | | | | (9,204,593 | ) | | | (258,111 | ) |
| UltraMid-Cap ProFund | | | 63,921,586 | | | | 17,599,485 | | | | (7,315,949 | ) | | | 10,283,536 | |
| UltraShort China ProFund | | | 2,286,000 | | | | 75,788 | | | | — | | | | 75,788 | |
| UltraShort Dow 30 ProFund | | | 4,244,237 | | | | 13,128 | | | | — | | | | 13,128 | |
| UltraShort Emerging Markets ProFund | | | 2,180,000 | | | | 40,363 | | | | — | | | | 40,363 | |
| UltraShort International ProFund | | | 2,154,000 | | | | — | | | | (4,635 | ) | | | (4,635 | ) |
| UltraShort Japan ProFund | | | 1,516,284 | | | | 1,438 | | | | — | | | | 1,438 | |
| UltraShort Latin America ProFund | | | 4,382,000 | | | | 167,400 | | | | — | | | | 167,400 | |
| UltraShort Mid-Cap ProFund | | | 1,710,188 | | | | 23,894 | | | | — | | | | 23,894 | |
| UltraShort Small-Cap ProFund | | | 4,704,009 | | | | 50,589 | | | | — | | | | 50,589 | |
| UltraSmall-Cap ProFund | | | 39,004,111 | | | | 5,683,074 | | | | (1,542,359 | ) | | | 4,140,715 | |
| Utilities UltraSector ProFund | | | 141,899,278 | | | | 7,019,623 | | | | (1,655,728 | ) | | | 5,363,895 | |
8. Transactions with Lehman Brothers Holdings, Inc.
On September 15, 2008, Lehman Brothers Holdings, Inc. filed a petition for Chapter 11 bankruptcy. Prior thereto, the ProFunds transacted business with subsidiaries of Lehman Brothers Holdings, Inc. (altogether, "Lehman") whereby Lehman acted as a counterparty to certain derivative transactions. All derivatives transactions with Lehman were terminated prior to September 15, 2008, but certain settlement payments relating to such transactions were not due to be made until on or after that date. Settlement of these transactions has been delayed due to Lehman's bankruptcy proceedings.
296 :: Notes to Financial Statements ::January 31, 2020 (unaudited)
As of January 31, 2020, Rising U.S. Dollar ProFund is owed $694,171 of the original amount owed, as of September 15, 2008, of $2,135,323, from over-the-counter derivatives transactions with Lehman. To the extent Lehman fails to fully pay the Rising U.S Dollar ProFund by the conclusion of the bankruptcy in connection with the settlement of such transactions, the Advisor, an affiliate of the Trust, has entered into a Receivables Agreement dated September 15, 2008 to reimburse the Rising U.S. Dollar ProFund for any shortfall in payments from Lehman. Specifically, the Receivables Agreement among the Advisor, ProShare Advisors LLC (an investment adviser affiliated with the Advisor) and ProFunds Trust, ProShares Trust and the Trust (collectively, the "PF Trusts") (each affiliated and under common controls with the other PF Trusts) provides that the investment adviser to specified funds of the PF Trusts will contribute cash to any such fund, equal to the amounts owed to the fund from Lehman for brokerage transactions written over-the-counter derivatives agreements as of September 15, 2008 (the "Lehman Obligations"). The Receivable Agreement will not terminate until all Lehman Obligations are paid. Payments are triggered if any specified fund of a PF Trust, including the Rising U.S. Dollar ProFund, does not recover the full amounts owed to it by Lehman following the conclusion of all bankruptcy, liquidation and Securities Investor Protection Corporation proceedings related to Lehman. Accordingly, no loss is expected to be realized by the Rising U.S. Dollar ProFund. Lehman has made payments on the original amount owed to Rising U.S. Dollar ProFund. The fair value of the remaining claim due from Lehman is $22,421, and is included in "Receivable for closed forward currency contracts" on the Statements of Assets and Liabilities. The fair value of the amount that is estimated to be paid by the Advisor is $671,750 and is included in "Due from Advisor under a Receivables Agreement" on the Statements of Assets and Liabilities. All other outstanding balances due from (or to) Lehman have been substantially relieved as of January 31, 2020.
9. Share Splits and Reverse Share Splits
Effective November 18, 2019, the Bull ProFund, the Consumer Services UltraSector ProFund, the Industrials UltraSector ProFund, the Technology UltraSector ProFund, and the UltraDow 30 ProFund underwent a 3-for-1 share split, the Oil Equipment & Services UltraSector ProFund underwent a 1-for-4 reverse share split, and the Short Nasdaq-100 ProFund underwent a 1-for-8 reverse share split.
Effective January 22, 2018, the UltraBull ProFund, the UltraMid-Cap ProFund, and the UltraNasdaq-100 ProFund underwent a 3-for-1 share split, the UltraShort China ProFund underwent a 1-for-8 reverse share split; the UltraShort Japan ProFund and the UltraShort Latin America ProFund underwent a 1-for-5 reverse share split, and the UltraShort Small-Cap ProFund underwent a 1-for-4 reverse share split.
Effective December 5, 2016, the Bear ProFund, UltraEmerging Markets ProFund, UltraShort Nasdaq-100 ProFund, and UltraShort Emerging Markets ProFund underwent a 1-for-5 reverse share split, the UltraShort Dow 30 ProFund, Short Oil & Gas ProFund, Short Precious Metals ProFund, and Rising Rates Opportunity ProFund underwent a 1-for-8 reverse share split, and the UltraBear ProFund and UltraShort Mid-Cap ProFund underwent a 1-for-10 reverse share split.
Effective December 14, 2015, the Nasdaq-100 ProFund underwent a 3-for-1 split, the UltraLatin America ProFund underwent a 1-for-10 reverse share split, and the Precious Metals UltraSector ProFund underwent a 1-for-5 reverse share split.
The effect of the share split transactions was to multiply the number of outstanding shares of the ProFunds by the respective split factor, with a corresponding decrease in net asset value per share; and the effect of the reverse share split transactions was to divide the number of outstanding shares of the ProFunds by the respective reverse split factor, with a corresponding increase in the net asset value per share. These transactions did not change the net assets of these ProFunds or the value of a shareholder's investment.
The historical share transactions presented in the Statements of Changes in Net Assets and per share data presented in the Financial Highlights have been adjusted retroactively to give effect to the share splits and reverse share splits. Additionally, when the application of reverse share splits resulted in fractional shares for beneficial shareholders, a portion of the cost of shares redeemed as presented in the Statements of Changes in Net Assets, reflects payment of fractional share balances on beneficial shareholder accounts.
10. Subsequent Events
The ProFunds have evaluated the need for additional disclosures or adjustments resulting from subsequent events through the date these financial statements were issued. Based on this evaluation, there were no subsequent events to report that would have a material impact on the ProFunds financial statements.
January 31, 2020 (unaudited):: Board Approval of Investment Advisory Agreement :: 297
At a meeting held on September 16-17, 2019, the Board of Trustees (the "Board") of ProFunds (the "Trust) considered the renewal of the Investment Advisory Agreement between the Trust and ProFund Advisors LLC (the "Advisor") on behalf of each of its operational series (each a "Fund" and collectively the "Funds") (the "Advisory Agreement"). Certain Funds are designed to match, before fees and expenses, the performance of an underlying index both on a single day and over time (each a "Matching Fund" and, collectively, the "Matching Funds"). Certain other Funds are "geared" funds that are designed to seek daily investment results, before fees and expenses, that correspond to the inverse (-1x), a multiple (i.e., 1.25x, 1.50x or 2x), or an inverse multiple (i.e., -1.25x or -2x) of the daily performance of an index or security (each a "Geared Fund" and, collectively, the "Geared Funds").
The Board did not identify any particular information that was most relevant to its consideration to approve the continuation of the Advisory Agreement and each Trustee may have afforded different weight to the various factors.
The Board received a memorandum from independent legal counsel to the Independent Trustees regarding the Board's fiduciary responsibilities under state and federal law with respect to the Board's consideration of the renewal or approval of investment advisory agreements. The Independent Trustees were advised by their independent legal counsel throughout the process, including about the legal standards applicable to their review.
In response to a request from the Independent Trustees, the Advisor provided information for the Board to consider relating to the continuation of the Advisory Agreement, including information that addressed, among other things:
| (i) | the nature, extent, and quality of the services that were provided or proposed to be provided by the Advisor; |
| (ii) | the costs of the services to be provided and the profits realized by the Advisor; |
| (iii) | the investment performance of the Funds and the Advisor; |
| (iv) | the extent to which economies of scale might be realized as the Funds grow and whether fee levels reflect economies of scale, if any, for the benefit of Fund shareholders; and |
| (v) | other benefits to the Advisor and/or its affiliates from the relationship to the Funds. |
It was noted that the Independent Trustees requested, and received, information from the Advisor concerning the Funds. In response to the request from the Independent Trustees, the Advisor provided information and reports relevant to the continuation of the Advisory Agreement, including, among other things:
| (i) | information about the advisory services that were being provided by the Advisor with respect to the Funds; |
| (ii) | the Advisor's Form ADV; |
| (iii) | biographies of the employees of the Advisor who are primarily responsible for providing investment advisory services to the Funds; |
| (iv) | information regarding each component of the contractual fee rates and actual fee rates for the prior fiscal year; |
| (v) | information regarding advisory fees earned versus advisory fees waived for previous periods; |
| (vi) | performance information for prior periods; |
| (vii) | comparative industry fee data; |
| (viii) | information about fees and other amounts that were received by the Advisor and its affiliates for non-advisory services with respect to the Funds; |
| (ix) | information regarding the Advisor's trade allocation and best execution policies and procedures; |
| (x) | information about the financial condition of the Advisor; |
| (xi) | information regarding how the Advisor monitors each Fund's compliance with regulatory requirements and Trust procedures; and |
| (xii) | the Advisor's reputation, expertise and resources. |
The Trustees retained the services of an independent consultant to assist in selecting a universe of peer group funds (the "Peer Group") with similar investment strategies, as well as to help them in evaluating information with respect to certain aspects of their review, including the reasonableness of fees paid by the Funds. The Board evaluated all information available to it on a Fund-by-Fund basis, and their determinations were made separately with respect to each Fund.
In addition to the information provided and discussions that occurred at the meeting, the Board also considered information they received throughout the year as part of their regular oversight of the Funds.
Nature, Extent and Quality of the Advisor's Services
The Board reviewed the nature, extent and quality of the investment advisory services performed by the Advisor. The Board noted there would be no significant differences between the scope of services provided by the Advisor in the past year and those to be provided in the upcoming year. The Board focused on the quality of the personnel and operations at the Advisor and the systems and processes required to manage the Funds effectively. In particular, the Board considered the following:
| (i) | the investment objective of each Fund, the Advisor's description of the skills needed to manage each Fund and the Advisor's success in achieving the investment objectives of each Fund; |
| (ii) | the unique features of the Funds, including the unique asset classes and investment strategies of certain Funds, as well as the employment of optimization/sampling techniques necessary to manage certain Funds; |
| (iii) | with respect to the Geared Funds, the fact that to maintain exposure consistent with each Geared Fund's daily investment objective, each Geared Fund needs to be rebalanced each day, an activity not typical of traditional index funds; |
| (iv) | the differences in managing the non-geared Funds, including the unique asset classes and investment strategies for certain Funds, as well as the employment of optimization/sampling techniques necessary to manage certain Funds; |
| (v) | the size and experience of the Advisor's portfolio staff and the Advisor's ability to recruit, train and retain personnel with relevant experience and the specific expertise necessary to manage the Funds; |
| (vi) | the structure of the portfolio staff compensation program and the incentives it is intended to provide; |
| (vii) | the collateral, credit and cash management functions at the Advisor and the enhancements made in these areas; |
298 :: Board Approval of Investment Advisory Agreement ::January 31, 2020 (unaudited)
| (viii) | the Advisor's development of investment strategies, including those involving the use of complex financial instruments and processes that maximize the Funds' ability to meet their stated investment objectives and minimize counterparty risk; |
| (ix) | a significant investment in personnel and state-of-the-art technology that the Advisor has made over the course of several years and, recently, the additions of several high level personnel in the areas of operations as well as continued research into technological upgrades that would generally improve capacity and document production capabilities; and |
| (x) | information regarding allocation of Fund brokerage and the selection of counterparties for Fund portfolio transactions, as well as favorable terms of derivatives transactions the Advisor was able to negotiate with swap counterparties on behalf of various Funds. |
The Board considered that the Advisor oversees the operations of the Funds and provides compliance services to the Funds. The Board also reviewed the Advisor's compliance program, including specific activities associated with the both the Geared Funds and the Matching Funds. The Board discussed the compliance program with the Funds' Chief Compliance Officer (the "CCO"). The Board and the CCO discussed the CCO's evaluation of the operation of the Advisor's compliance program, and efforts with respect to the Funds, changes made to the Advisor's compliance program since the CCO's last annual report to the Board, and whether the CCO believed additional enhancements to the compliance program were warranted. The Board discussed compliance issues reported to the Board during the prior year and the remediation of such issues. The Board discussed key risk areas identified by the CCO and how such risks are addressed by the compliance program.
Based upon its review, the Board, including all of the Independent Trustees concluded with respect to each Fund that (i) the investment advisory services provided by the Advisor with respect to the Fund were of high quality, (ii) the Advisor achieved the investment goals of the Fund, (iii) the Advisor's services benefited the Fund's shareholders, particularly in light of the nature of the Fund and the services required to support each such Fund, and (iv) they were generally satisfied with the nature, quality and extent of services provided to the Fund by the Advisor.
Comparison of Services and Fees
The Advisor presented information about the fairness and reasonableness of the investment advisory fees payable to the Advisor in light of the investment advisory services provided, the costs of these services and the comparability to the fees paid by other investment companies, including mutual funds offering strategies similar in nature and extent to the Funds. The Board discussed the methodology used to prepare the comparative fee data for each Fund and the potential limitations of such data. The Board discussed the difficulty in compiling the comparative data and Peer Group information because, by design, many of the Funds are unique and few, if any, fund complexes with funds offering substantially similar investment objectives and strategies exist. The Board considered the Advisor's representation that it found the Peer Group compiled by the independent consultant to be appropriate, but acknowledged the existence of certain differences between the Funds and their peers. The Board noted that the methodology used to compile the Peer Group and comparative data was identical to that used in prior years. Notwithstanding the challenge associated with Peer Group and data compilation, the Board found the comparative information it received to be useful in its evaluation of the reasonableness of the Advisor's fee. The Advisor presented information about the significant drivers of cost and also examined the costs to investors to achieve the objectives of the Funds on their own, and noted that it would be more expensive or impractical to do so.
The Board reviewed information prepared by the independent consultant, comparing management and expense information for each Fund to that of its Peer Group. The Board reviewed Peer Group information prepared by the consultant comparing the contractual advisory fee rate to be paid by the Funds to other funds with investment objectives most similar to the Funds. The Board also considered the fee waiver and/or expense reimbursement arrangements currently in place for each Fund and considered the net advisory fees paid by the Funds after taking waivers and reimbursements into account.
The Board considered and discussed the sub-advisory fees charged and the services provided by the Advisor to the one mutual fund it serves as sub-adviser. The Board recognized that the scope of services provided by the Advisor to the mutual fund is narrower than the services provided to the Funds for several reasons, including that the Advisor performs only services delegated to it by the investment adviser to the mutual fund and does not provide other services like daily cash management, collateral management, and counterparty management. The Board noted that for these reasons it is difficult to make comparisons of fees charged to the sub-advised mutual fund and the Funds.
The Board also recognized that it is difficult to make comparisons of fees across fund complexes because there may be variations in services that are included in the fees paid by other mutual funds.
The Board, including all of the Independent Trustees, concluded that, with respect to the Funds, the investment advisory fees and any other compensation payable to the Advisor were reasonable in relation to the nature and quality of the services provided and that the continuation of the Advisory Agreement was in the best interests of the shareholders of the Funds.
Investment Performance of the Funds and the Advisor
The Board considered total return information for each Fund and focused on the correlation of returns to benchmark information for each Geared Fund for the 3-month, 1-year, 5-year, 10-year and since inception periods ended June 30, 2019, as applicable. The Board also considered performance information provided at regular Board meetings throughout the year. The Board noted that correlation of returns for each Geared Fund remained strong during the applicable periods and that Geared Fund performance versus target performance was generally within expected ranges. The Board further noted that Matching Fund performance versus benchmark index performance was also generally within expected ranges during the applicable periods. The Board noted that, given the nature of the Funds that are Matching Funds or Geared Funds, the correlation of such Fund's performance with the performance of its underlying benchmark (or a relevant inverse or multiple thereof) was a more meaningful factor than the Fund's total return.
January 31, 2020 (unaudited):: Board Approval of Investment Advisory Agreement :: 299
After reviewing the performance of the Funds, the Board, including the Independent Trustees, concluded, in light of the foregoing factors, that the performance of the Funds was satisfactory.
Profitability
The Board considered the significant drivers of cost incurred by or expected to be incurred by the Advisor in managing the Funds, including, but not limited to, intellectual capital, regulatory compliance, daily portfolio rebalancing of the Geared Funds, and entrepreneurial risk, and considered the costs that investors likely would incur if they independently sought to achieve the objectives of the Funds. The Board considered the profitability to the Advisor of its management of each of the Funds. The Board also discussed the Advisor's profit margin, including the expense allocation methodology used in the Advisor's profitability analysis. It was noted that the methodology for determining profitability was conducted in a similar fashion as the prior year.
The Independent Trustees met in executive session to discuss and evaluate the information provided by the Advisor and the independent consultant. Among other things, the Trustees reviewed information regarding the financial condition and profitability of the Advisor, including the methodologies involved in calculating profitability.
Based on its review, the Board, including all of the Independent Trustees, concluded that the profitability to the Advisor of the Advisory Agreement was reasonable in light of the services and benefits provided to each Fund.
Economies of Scale
The Board discussed with representatives of the Advisor potential economies of scale in connection with the management and operation of each Fund as well as the effect of the contractual expense limitations undertaken by the Advisor. The Board considered that each Fund covered by the Advisory Agreement pays the Advisory an annual investment advisory fee of 0.75% of average daily net assets (other than ProFund Ultra Japan Fund and the ProFund Ultra Short Japan Fund, which pay 0.90%, the ProFund Nasdaq-100 which pays 0.70%, and the ProFund V.P. U.S. Government Plus, which pays 0.50%).
The Board considered that, subject to the condition that the aggregate daily net assets of the Trust combined with the Access One Trust (Access One Trust funds are advised by the Advisor but are not part of the Trust) be equal to or greater than $10 billion, the Advisor has agreed to reduce each Fund's annual investment advisory fee by 0.025% on assets in excess of $500 million up to $1 billion, 0.05% on assets in excess of $1 billion up to $2 billion and 0.075% on assets in excess of $2 billion.
The Board indicated to the Advisor that it will continue to consider and evaluate on an ongoing basis potential economies of scale and how Fund shareholders might benefit from those economies of scale.
Other Benefits
The Board also considered the Advisor's non-advisory services, including those performed under a separate Management Services Agreement. The Board considered the fact that the Geared Funds' shareholders, and the shareholders of certain Matching Funds, tend to be active traders, which adds a level of complexity to the management of those Funds. The Board also considered any indirect, or "fall-out," benefits that the Advisor or its affiliates derived from their relationship to the Funds but concluded that such benefits were relatively insignificant.
The Board considered that ProFund Distributors, Inc., a wholly-owned subsidiary of the Advisor, earns fees from the Funds for providing services under a Distribution and Shareholder Services Plan.
Conclusions
Based on, but not limited to, the above considerations and determinations, the Board, including all of the Independent Trustees, determined that the Agreement for the Funds is fair and reasonable in light of the nature, extent and quality of the services to be performed, the fee rates to be paid, the Advisor's expenses and such other matters as the Board considered relevant in the exercise of its business judgement. Accordingly, the Board concluded that the continuation of the Advisory Agreement was in the best interests of the shareholders of the Funds. On this basis, the Board unanimously voted in favor of the renewal of the Advisory Agreement.
This Page Intentionally Left Blank
This Page Intentionally Left Blank
This Page Intentionally Left Blank
This Page Intentionally Left Blank
P.O. Box 182800
Columbus, OH 43218-2800
ProFunds®
Post Office Mailing Address for Investments
P.O. Box 182800
Columbus, OH 43218-2800
Phone Numbers
For Individual Investors Only: 888-776-3637 Or: 614-470-8122
Institutions and Financial Professionals Only: 888-776-5717 Or: 240-497-6552
Fax Number: (800) 782-4797
Website Address: ProFunds.com
This report is submitted for the general information of the shareholders of the ProFunds. It is not authorized for distribution to prospective investors unless preceded or accompanied by an effective prospectus. To receive the most recent month end performance information for each Fund, please call toll-free 888-776-5717.
A description of the policies and procedures that the ProFunds uses to determine how to vote proxies relating to portfolio securities is available without charge, upon request, by calling toll-free 888-776-3637; and on the Securities and Exchange Commission's website at sec.gov. Information regarding how the ProFund voted proxies relating to portfolio securities during the most recent 12-month period ended June 30 is available. (i) without change by calling toll-free 888-776-3637; (ii) on the ProFunds' website at ProFunds.com; and (iii) on the Commission's website at sec.gov.
ProFunds files complete Schedules of Portfolio Holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q (and successor Forms). Effective March 31, 2019, Form N-PORT replaced Form N-Q and includes complete Schedules of Portfolio Holdings for the first and third fiscal quarters. Schedules of Portfolio Holding for the Funds in this report are available without charge on the Commission's website at sec.gov, or may be reviewed and copied at the Commission's Public Reference Room in Washington, D.C. Information on the operation of the Public Reference Room may be obtained by calling 800-SEC-0330.
01/20
Item 2. Code of Ethics.
Not applicable – only for annual reports.
Item 3. Audit Committee Financial Expert.
Not applicable – only for annual reports.
Item 4. Principal Accountant Fees and Services.
Not applicable – only for annual reports.
Item 5. Audit Committee of Listed Registrants.
Not applicable.
Item 6. Schedule of Investments.
(a)
Bull ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks (71.4%)
| | | Shares | | | Value | |
| 3M Co. (Industrial Conglomerates) | | | 1,028 | | | $ | 163,102 | |
| A.O. Smith Corp. (Building Products) | | | 245 | | | | 10,459 | |
| Abbott Laboratories (Health Care Equipment & Supplies) | | | 3,160 | | | | 275,363 | |
| AbbVie, Inc. (Biotechnology) | | | 2,644 | | | | 214,217 | |
| ABIOMED, Inc.* (Health Care Equipment & Supplies) | | | 81 | | | | 15,089 | |
| Accenture PLC - Class A (IT Services) | | | 1,136 | | | | 233,119 | |
| Activision Blizzard, Inc. (Entertainment) | | | 1,374 | | | | 80,352 | |
| Adobe, Inc.* (Software) | | | 866 | | | | 304,088 | |
| Advance Auto Parts, Inc. (Specialty Retail) | | | 124 | | | | 16,337 | |
| Advanced Micro Devices, Inc.* (Semiconductors & Semiconductor Equipment) | | | 1,991 | | | | 93,577 | |
| Aflac, Inc. (Insurance) | | | 1,313 | | | | 67,711 | |
| Agilent Technologies, Inc. (Life Sciences Tools & Services) | | | 553 | | | | 45,656 | |
| Air Products & Chemicals, Inc. (Chemicals) | | | 394 | | | | 94,051 | |
| Akamai Technologies, Inc.* (IT Services) | | | 289 | | | | 26,978 | |
| Alaska Air Group, Inc. (Airlines) | | | 220 | | | | 14,210 | |
| Albemarle Corp. (Chemicals) | | | 190 | | | | 15,253 | |
| Alexandria Real Estate Equities, Inc. (Equity Real Estate Investment Trusts) | | | 206 | | | | 33,619 | |
| Alexion Pharmaceuticals, Inc.* (Biotechnology) | | | 396 | | | | 39,358 | |
| Align Technology, Inc.* (Health Care Equipment & Supplies) | | | 128 | | | | 32,909 | |
| Allegion PLC (Building Products) | | | 166 | | | | 21,467 | |
| Allergan PLC (Pharmaceuticals) | | | 587 | | | | 109,558 | |
| Alliance Data Systems Corp. (IT Services) | | | 73 | | | | 7,504 | |
| Alliant Energy Corp. (Electric Utilities) | | | 430 | | | | 25,525 | |
| Alphabet, Inc.* - Class A (Interactive Media & Services) | | | 536 | | | | 767,970 | |
| Alphabet, Inc.* - Class C (Interactive Media & Services) | | | 534 | | | | 765,879 | |
| Altria Group, Inc. (Tobacco) | | | 3,340 | | | | 158,750 | |
| Amazon.com, Inc.* (Internet & Direct Marketing Retail) | | | 745 | | | | 1,496,496 | |
| Amcor PLC (Containers & Packaging) | | | 2,897 | | | | 30,679 | |
| Ameren Corp. (Multi-Utilities) | | | 440 | | | | 36,102 | |
| American Airlines Group, Inc. (Airlines) | | | 697 | | | | 18,707 | |
| American Electric Power Co., Inc. (Electric Utilities) | | | 883 | | | | 92,026 | |
| American Express Co. (Consumer Finance) | | | 1,200 | | | | 155,844 | |
| American International Group, Inc. (Insurance) | | | 1,556 | | | | 78,205 | |
| American Tower Corp. (Equity Real Estate Investment Trusts) | | | 792 | | | | 183,537 | |
| American Water Works Co., Inc. (Water Utilities) | | | 323 | | | | 43,993 | |
| Ameriprise Financial, Inc. (Capital Markets) | | | 227 | | | | 37,548 | |
| AmerisourceBergen Corp. (Health Care Providers & Services) | | | 269 | | | | 23,016 | |
| AMETEK, Inc. (Electrical Equipment) | | | 409 | | | | 39,734 | |
| Amgen, Inc. (Biotechnology) | | | 1,062 | | | | 229,446 | |
| Amphenol Corp. - Class A (Electronic Equipment, Instruments & Components) | | | 530 | | | | 52,718 | |
| Analog Devices, Inc. (Semiconductors & Semiconductor Equipment) | | | 659 | | | | 72,325 | |
| ANSYS, Inc.* (Software) | | | 153 | | | | 41,972 | |
| Anthem, Inc. (Health Care Providers & Services) | | | 453 | | | | 120,172 | |
| Aon PLC (Insurance) | | | 419 | | | | 92,285 | |
| Apache Corp. (Oil, Gas & Consumable Fuels) | | | 672 | | | | 18,440 | |
| Apartment Investment & Management Co. (Equity Real Estate Investment Trusts) | | | 266 | | | | 14,021 | |
| Apple, Inc. (Technology Hardware, Storage & Peripherals) | | | 7,468 | | | | 2,311,421 | |
| Applied Materials, Inc. (Semiconductors & Semiconductor Equipment) | | | 1,652 | | | | 95,799 | |
| Aptiv PLC (Auto Components) | | | 456 | | | | 38,664 | |
| Archer-Daniels-Midland Co. (Food Products) | | | 995 | | | | 44,536 | |
| Arconic, Inc. (Aerospace & Defense) | | | 693 | | | | 20,755 | |
| Arista Networks, Inc.* (Communications Equipment) | | | 97 | | | | 21,664 | |
| Arthur J. Gallagher & Co. (Insurance) | | | 334 | | | | 34,258 | |
| Assurant, Inc. (Insurance) | | | 108 | | | | 14,100 | |
| AT&T, Inc. (Diversified Telecommunication Services) | | | 13,062 | | | | 491,393 | |
| Atmos Energy Corp. (Gas Utilities) | | | 213 | | | | 24,927 | |
| Autodesk, Inc.* (Software) | | | 393 | | | | 77,362 | |
| Automatic Data Processing, Inc. (IT Services) | | | 774 | | | | 132,656 | |
| AutoZone, Inc.* (Specialty Retail) | | | 43 | | | | 45,492 | |
| AvalonBay Communities, Inc. (Equity Real Estate Investment Trusts) | | | 250 | | | | 54,173 | |
| Avery Dennison Corp. (Containers & Packaging) | | | 149 | | | | 19,555 | |
| Baker Hughes Co. - Class A (Energy Equipment & Services) | | | 1,162 | | | | 25,169 | |
| Ball Corp. (Containers & Packaging) | | | 585 | | | | 42,225 | |
| Bank of America Corp. (Banks) | | | 14,476 | | | | 475,247 | |
| Baxter International, Inc. (Health Care Equipment & Supplies) | | | 913 | | | | 81,458 | |
| Becton, Dickinson & Co. (Health Care Equipment & Supplies) | | | 484 | | | | 133,187 | |
| Berkshire Hathaway, Inc.* - Class B (Diversified Financial Services) | | | 3,498 | | | | 785,056 | |
| Best Buy Co., Inc. (Specialty Retail) | | | 407 | | | | 34,469 | |
| Biogen, Inc.* (Biotechnology) | | | 323 | | | | 86,839 | |
| BlackRock, Inc. - Class A (Capital Markets) | | | 211 | | | | 111,271 | |
| Booking Holdings, Inc.* (Internet & Direct Marketing Retail) | | | 75 | | | | 137,291 | |
| BorgWarner, Inc. (Auto Components) | | | 369 | | | | 12,653 | |
| Boston Properties, Inc. (Equity Real Estate Investment Trusts) | | | 257 | | | | 36,841 | |
| Boston Scientific Corp.* (Health Care Equipment & Supplies) | | | 2,492 | | | | 104,340 | |
| Bristol-Myers Squibb Co. (Pharmaceuticals) | | | 4,192 | | | | 263,886 | |
| Broadcom, Inc. (Semiconductors & Semiconductor Equipment) | | | 709 | | | | 216,358 | |
| Broadridge Financial Solutions, Inc. (IT Services) | | | 205 | | | | 24,426 | |
| Brown-Forman Corp. - Class B (Beverages) | | | 326 | | | | 22,051 | |
| C.H. Robinson Worldwide, Inc. (Air Freight & Logistics) | | | 242 | | | | 17,477 | |
| Cabot Oil & Gas Corp. (Oil, Gas & Consumable Fuels) | | | 729 | | | | 10,272 | |
| Cadence Design Systems, Inc.* (Software) | | | 502 | | | | 36,199 | |
Bull ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Campbell Soup Co. (Food Products) | | | 302 | | | $ | 14,614 | |
| Capital One Financial Corp. (Consumer Finance) | | | 833 | | | | 83,133 | |
| Capri Holdings, Ltd.* (Textiles, Apparel & Luxury Goods) | | | 271 | | | | 8,119 | |
| Cardinal Health, Inc. (Health Care Providers & Services) | | | 523 | | | | 26,783 | |
| CarMax, Inc.* (Specialty Retail) | | | 294 | | | | 28,530 | |
| Carnival Corp. - Class A (Hotels, Restaurants & Leisure) | | | 716 | | | | 31,167 | |
| Caterpillar, Inc. (Machinery) | | | 988 | | | | 129,773 | |
| CBOE Global Markets, Inc. (Capital Markets) | | | 198 | | | | 24,398 | |
| CBRE Group, Inc.* - Class A (Real Estate Management & Development) | | | 599 | | | | 36,569 | |
| CDW Corp. (Electronic Equipment, Instruments & Components) | | | 257 | | | | 33,526 | |
| Celanese Corp. (Chemicals) | | | 216 | | | | 22,356 | |
| Centene Corp.* (Health Care Providers & Services) | | | 1,043 | | | | 65,523 | |
| CenterPoint Energy, Inc. (Multi-Utilities) | | | 898 | | | | 23,779 | |
| CenturyLink, Inc. (Diversified Telecommunication Services) | | | 1,755 | | | | 23,973 | |
| Cerner Corp. (Health Care Technology) | | | 562 | | | | 40,368 | |
| CF Industries Holdings, Inc. (Chemicals) | | | 389 | | | | 15,669 | |
| Charter Communications, Inc.* - Class A (Media) | | | 280 | | | | 144,888 | |
| Chevron Corp. (Oil, Gas & Consumable Fuels) | | | 3,381 | | | | 362,240 | |
| Chipotle Mexican Grill, Inc.* (Hotels, Restaurants & Leisure) | | | 46 | | | | 39,871 | |
| Chubb, Ltd. (Insurance) | | | 810 | | | | 123,112 | |
| Church & Dwight Co., Inc. (Household Products) | | | 439 | | | | 32,583 | |
| Cigna Corp. (Health Care Providers & Services) | | | 668 | | | | 128,510 | |
| Cimarex Energy Co. (Oil, Gas & Consumable Fuels) | | | 182 | | | | 7,988 | |
| Cincinnati Financial Corp. (Insurance) | | | 272 | | | | 28,546 | |
| Cintas Corp. (Commercial Services & Supplies) | | | 150 | | | | 41,846 | |
| Cisco Systems, Inc. (Communications Equipment) | | | 7,586 | | | | 348,729 | |
| Citigroup, Inc. (Banks) | | | 3,904 | | | | 290,497 | |
| Citizens Financial Group, Inc. (Banks) | | | 777 | | | | 28,967 | |
| Citrix Systems, Inc. (Software) | | | 219 | | | | 26,547 | |
| CME Group, Inc. (Capital Markets) | | | 641 | | | | 139,167 | |
| CMS Energy Corp. (Multi-Utilities) | | | 508 | | | | 34,803 | |
| Cognizant Technology Solutions Corp. (IT Services) | | | 979 | | | | 60,091 | |
| Colgate-Palmolive Co. (Household Products) | | | 1,533 | | | | 113,105 | |
| Comcast Corp. - Class A (Media) | | | 8,118 | | | | 350,615 | |
| Comerica, Inc. (Banks) | | | 258 | | | | 15,779 | |
| Conagra Brands, Inc. (Food Products) | | | 870 | | | | 28,640 | |
| Concho Resources, Inc. (Oil, Gas & Consumable Fuels) | | | 359 | | | | 27,205 | |
| ConocoPhillips (Oil, Gas & Consumable Fuels) | | | 1,962 | | | | 116,602 | |
| Consolidated Edison, Inc. (Multi-Utilities) | | | 594 | | | | 55,836 | |
| Constellation Brands, Inc. - Class A (Beverages) | | | 300 | | | | 56,490 | |
| Copart, Inc.* (Commercial Services & Supplies) | | | 366 | | | | 37,134 | |
| Corning, Inc. (Electronic Equipment, Instruments & Components) | | | 1,375 | | | | 36,699 | |
| Corteva, Inc. (Chemicals) | | | 1,338 | | | | 38,695 | |
| Costco Wholesale Corp. (Food & Staples Retailing) | | | 790 | | | | 241,361 | |
| Coty, Inc. - Class A (Personal Products) | | | 529 | | | | 5,428 | |
| Crown Castle International Corp. (Equity Real Estate Investment Trusts) | | | 743 | | | | 111,330 | |
| CSX Corp. (Road & Rail) | | | 1,391 | | | | 106,189 | |
| Cummins, Inc. (Machinery) | | | 274 | | | | 43,832 | |
| CVS Health Corp. (Health Care Providers & Services) | | | 2,326 | | | | 157,749 | |
| D.R. Horton, Inc. (Household Durables) | | | 600 | | | | 35,520 | |
| Danaher Corp. (Health Care Equipment & Supplies) | | | 1,143 | | | | 183,874 | |
| Darden Restaurants, Inc. (Hotels, Restaurants & Leisure) | | | 219 | | | | 25,498 | |
| DaVita, Inc.* (Health Care Providers & Services) | | | 160 | | | | 12,779 | |
| Deere & Co. (Machinery) | | | 563 | | | | 89,280 | |
| Delta Air Lines, Inc. (Airlines) | | | 1,029 | | | | 57,357 | |
| DENTSPLY SIRONA, Inc. (Health Care Equipment & Supplies) | | | 398 | | | | 22,288 | |
| Devon Energy Corp. (Oil, Gas & Consumable Fuels) | | | 692 | | | | 15,030 | |
| Diamondback Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 288 | | | | 21,427 | |
| Digital Realty Trust, Inc. (Equity Real Estate Investment Trusts) | | | 373 | | | | 45,875 | |
| Discover Financial Services (Consumer Finance) | | | 561 | | | | 42,148 | |
| Discovery, Inc.* (Media) | | | 283 | | | | 8,281 | |
| Discovery, Inc.* - Class C (Media) | | | 600 | | | | 16,662 | |
| Dish Network Corp.* - Class A (Media) | | | 456 | | | | 16,763 | |
| Dollar General Corp. (Multiline Retail) | | | 455 | | | | 69,802 | |
| Dollar Tree, Inc.* (Multiline Retail) | | | 423 | | | | 36,831 | |
| Dominion Energy, Inc. (Multi-Utilities) | | | 1,472 | | | | 126,223 | |
| Dover Corp. (Machinery) | | | 260 | | | | 29,601 | |
| Dow, Inc. (Chemicals) | | | 1,326 | | | | 61,089 | |
| DTE Energy Co. (Multi-Utilities) | | | 344 | | | | 45,618 | |
| Duke Energy Corp. (Electric Utilities) | | | 1,304 | | | | 127,310 | |
| Duke Realty Corp. (Equity Real Estate Investment Trusts) | | | 657 | | | | 23,856 | |
| DuPont de Nemours, Inc. (Chemicals) | | | 1,325 | | | | 67,814 | |
| DXC Technology Co. (IT Services) | | | 458 | | | | 14,601 | |
| E*TRADE Financial Corp. (Capital Markets) | | | 404 | | | | 17,218 | |
| Eastman Chemical Co. (Chemicals) | | | 243 | | | | 17,319 | |
| Eaton Corp. PLC (Electrical Equipment) | | | 739 | | | | 69,813 | |
| eBay, Inc. (Internet & Direct Marketing Retail) | | | 1,367 | | | | 45,877 | |
| Ecolab, Inc. (Chemicals) | | | 448 | | | | 87,857 | |
| Edison International (Electric Utilities) | | | 641 | | | | 49,069 | |
| Edwards Lifesciences Corp.* (Health Care Equipment & Supplies) | | | 373 | | | | 82,008 | |
| Electronic Arts, Inc.* (Entertainment) | | | 522 | | | | 56,334 | |
Bull ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Eli Lilly & Co. (Pharmaceuticals) | | | 1,511 | | | $ | 210,996 | |
| Emerson Electric Co. (Electrical Equipment) | | | 1,089 | | | | 78,005 | |
| Entergy Corp. (Electric Utilities) | | | 356 | | | | 46,821 | |
| EOG Resources, Inc. (Oil, Gas & Consumable Fuels) | | | 1,040 | | | | 75,826 | |
| Equifax, Inc. (Professional Services) | | | 217 | | | | 32,528 | |
| Equinix, Inc. (Equity Real Estate Investment Trusts) | | | 152 | | | | 89,639 | |
| Equity Residential (Equity Real Estate Investment Trusts) | | | 624 | | | | 51,842 | |
| Essex Property Trust, Inc. (Equity Real Estate Investment Trusts) | | | 118 | | | | 36,552 | |
| Everest Re Group, Ltd. (Insurance) | | | 73 | | | | 20,190 | |
| Evergy, Inc. (Electric Utilities) | | | 408 | | | | 29,441 | |
| Eversource Energy (Electric Utilities) | | | 579 | | | | 53,523 | |
| Exelon Corp. (Electric Utilities) | | | 1,738 | | | | 82,711 | |
| Expedia Group, Inc. (Internet & Direct Marketing Retail) | | | 250 | | | | 27,113 | |
| Expeditors International of Washington, Inc. (Air Freight & Logistics) | | | 305 | | | | 22,277 | |
| Extra Space Storage, Inc. (Equity Real Estate Investment Trusts) | | | 232 | | | | 25,678 | |
| Exxon Mobil Corp. (Oil, Gas & Consumable Fuels) | | | 7,566 | | | | 470,000 | |
| F5 Networks, Inc.* (Communications Equipment) | | | 109 | | | | 13,311 | |
| Facebook, Inc.* - Class A (Interactive Media & Services) | | | 4,303 | | | | 868,818 | |
| Fastenal Co. (Trading Companies & Distributors) | | | 1,026 | | | | 35,788 | |
| Federal Realty Investment Trust (Equity Real Estate Investment Trusts) | | | 126 | | | | 15,753 | |
| FedEx Corp. (Air Freight & Logistics) | | | 429 | | | | 62,051 | |
| Fidelity National Information Services, Inc. (IT Services) | | | 1,099 | | | | 157,882 | |
| Fifth Third Bancorp (Banks) | | | 1,269 | | | | 36,103 | |
| First Horizon National Corp. (Banks) | | | – | † | | | 6 | |
| First Republic Bank (Banks) | | | 301 | | | | 33,375 | |
| FirstEnergy Corp. (Electric Utilities) | | | 966 | | | | 49,063 | |
| Fiserv, Inc.* (IT Services) | | | 1,021 | | | | 121,101 | |
| FleetCor Technologies, Inc.* (IT Services) | | | 155 | | | | 48,861 | |
| FLIR Systems, Inc. (Electronic Equipment, Instruments & Components) | | | 240 | | | | 12,370 | |
| Flowserve Corp. (Machinery) | | | 234 | | | | 10,923 | |
| FMC Corp. (Chemicals) | | | 232 | | | | 22,177 | |
| Ford Motor Co. (Automobiles) | | | 6,963 | | | | 61,414 | |
| Fortinet, Inc.* (Software) | | | 254 | | | | 29,301 | |
| Fortive Corp. (Machinery) | | | 528 | | | | 39,563 | |
| Fortune Brands Home & Security, Inc. (Building Products) | | | 249 | | | | 17,109 | |
| Fox Corp. - Class A (Media) | | | 634 | | | | 23,509 | |
| Fox Corp. - Class B (Media) | | | 290 | | | | 10,536 | |
| Franklin Resources, Inc. (Capital Markets) | | | 499 | | | | 12,625 | |
| Freeport-McMoRan, Inc. (Metals & Mining) | | | 2,594 | | | | 28,793 | |
| Garmin, Ltd. (Household Durables) | | | 258 | | | | 25,013 | |
| Gartner, Inc.* (IT Services) | | | 160 | | | | 25,725 | |
| General Dynamics Corp. (Aerospace & Defense) | | | 419 | | | | 73,509 | |
| General Electric Co. (Industrial Conglomerates) | | | 15,617 | | | | 194,432 | |
| General Mills, Inc. (Food Products) | | | 1,081 | | | | 56,450 | |
| General Motors Co. (Automobiles) | | | 2,248 | | | | 75,061 | |
| Genuine Parts Co. (Distributors) | | | 260 | | | | 24,329 | |
| Gilead Sciences, Inc. (Biotechnology) | | | 2,262 | | | | 142,958 | |
| Global Payments, Inc. (IT Services) | | | 537 | | | | 104,957 | |
| Globe Life, Inc. (Insurance) | | | 178 | | | | 18,558 | |
| H&R Block, Inc. (Diversified Consumer Services) | | | 349 | | | | 8,097 | |
| Halliburton Co. (Energy Equipment & Services) | | | 1,570 | | | | 34,242 | |
| Hanesbrands, Inc. (Textiles, Apparel & Luxury Goods) | | | 647 | | | | 8,903 | |
| Harley-Davidson, Inc. (Automobiles) | | | 276 | | | | 9,218 | |
| Hartford Financial Services Group, Inc. (Insurance) | | | 644 | | | | 38,176 | |
| Hasbro, Inc. (Leisure Products) | | | 228 | | | | 23,226 | |
| HCA Healthcare, Inc. (Health Care Providers & Services) | | | 473 | | | | 65,652 | |
| Healthpeak Properties, Inc. (Equity Real Estate Investment Trusts) | | | 885 | | | | 31,851 | |
| Helmerich & Payne, Inc. (Energy Equipment & Services) | | | 194 | | | | 7,867 | |
| Henry Schein, Inc.* (Health Care Providers & Services) | | | 262 | | | | 18,062 | |
| Hess Corp. (Oil, Gas & Consumable Fuels) | | | 463 | | | | 26,192 | |
| Hewlett Packard Enterprises Co. (Technology Hardware, Storage & Peripherals) | | | 2,314 | | | | 32,234 | |
| Hilton Worldwide Holdings, Inc. (Hotels, Restaurants & Leisure) | | | 505 | | | | 54,439 | |
| HollyFrontier Corp. (Oil, Gas & Consumable Fuels) | | | 265 | | | | 11,904 | |
| Hologic, Inc.* (Health Care Equipment & Supplies) | | | 479 | | | | 25,636 | |
| Honeywell International, Inc. (Industrial Conglomerates) | | | 1,278 | | | | 221,375 | |
| Hormel Foods Corp. (Food Products) | | | 497 | | | | 23,488 | |
| Host Hotels & Resorts, Inc. (Equity Real Estate Investment Trusts) | | | 1,282 | | | | 20,948 | |
| HP, Inc. (Technology Hardware, Storage & Peripherals) | | | 2,650 | | | | 56,498 | |
| Humana, Inc. (Health Care Providers & Services) | | | 237 | | | | 79,689 | |
| Huntington Bancshares, Inc. (Banks) | | | 1,847 | | | | 25,064 | |
| Huntington Ingalls Industries, Inc. (Aerospace & Defense) | | | 73 | | | | 19,053 | |
| IDEX Corp. (Machinery) | | | 136 | | | | 22,284 | |
| IDEXX Laboratories, Inc.* (Health Care Equipment & Supplies) | | | 153 | | | | 41,465 | |
| IHS Markit, Ltd.* (Professional Services) | | | 717 | | | | 56,543 | |
| Illinois Tool Works, Inc. (Machinery) | | | 523 | | | | 91,514 | |
| Illumina, Inc.* (Life Sciences Tools & Services) | | | 263 | | | | 76,288 | |
| Incyte Corp.* (Biotechnology) | | | 320 | | | | 23,382 | |
| Ingersoll-Rand PLC (Machinery) | | | 428 | | | | 57,022 | |
| Intel Corp. (Semiconductors & Semiconductor Equipment) | | | 7,778 | | | | 497,249 | |
| Intercontinental Exchange, Inc. (Capital Markets) | | | 996 | | | | 99,341 | |
Bull ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| International Business Machines Corp. (IT Services) | | | 1,584 | | | $ | 227,668 | |
| International Flavors & Fragrances, Inc.(a) (Chemicals) | | | 191 | | | | 25,042 | |
| International Paper Co. (Containers & Packaging) | | | 701 | | | | 28,545 | |
| Intuit, Inc. (Software) | | | 465 | | | | 130,377 | |
| Intuitive Surgical, Inc.* (Health Care Equipment & Supplies) | | | 207 | | | | 115,874 | |
| Invesco, Ltd. (Capital Markets) | | | 666 | | | | 11,522 | |
| IPG Photonics Corp.* (Electronic Equipment, Instruments & Components) | | | 64 | | | | 8,171 | |
| IQVIA Holdings, Inc.* (Life Sciences Tools & Services) | | | 323 | | | | 50,146 | |
| Iron Mountain, Inc. (Equity Real Estate Investment Trusts) | | | 513 | | | | 16,216 | |
| J.B. Hunt Transport Services, Inc. (Road & Rail) | | | 152 | | | | 16,405 | |
| Jack Henry & Associates, Inc. (IT Services) | | | 138 | | | | 20,637 | |
| Jacobs Engineering Group, Inc. (Construction & Engineering) | | | 242 | | | | 22,392 | |
| Johnson & Johnson (Pharmaceuticals) | | | 4,706 | | | | 700,583 | |
| Johnson Controls International PLC (Building Products) | | | 1,379 | | | | 54,402 | |
| JPMorgan Chase & Co. (Banks) | | | 5,608 | | | | 742,276 | |
| Juniper Networks, Inc. (Communications Equipment) | | | 598 | | | | 13,718 | |
| Kansas City Southern Industries, Inc. (Road & Rail) | | | 177 | | | | 29,858 | |
| Kellogg Co. (Food Products) | | | 445 | | | | 30,353 | |
| KeyCorp (Banks) | | | 1,761 | | | | 32,948 | |
| Keysight Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | | 335 | | | | 31,152 | |
| Kimberly-Clark Corp. (Household Products) | | | 613 | | | | 87,806 | |
| Kimco Realty Corp. (Equity Real Estate Investment Trusts) | | | 755 | | | | 14,383 | |
| Kinder Morgan, Inc. (Oil, Gas & Consumable Fuels) | | | 3,483 | | | | 72,690 | |
| KLA Corp. (Semiconductors & Semiconductor Equipment) | | | 282 | | | | 46,739 | |
| Kohl's Corp. (Multiline Retail) | | | 280 | | | | 11,970 | |
| L Brands, Inc. (Specialty Retail) | | | 415 | | | | 9,611 | |
| L3Harris Technologies, Inc. (Aerospace & Defense) | | | 395 | | | | 87,425 | |
| Laboratory Corp. of America Holdings* (Health Care Providers & Services) | | | 174 | | | | 30,520 | |
| Lam Research Corp. (Semiconductors & Semiconductor Equipment) | | | 259 | | | | 77,236 | |
| Lamb Weston Holding, Inc. (Food Products) | | | 261 | | | | 23,832 | |
| Las Vegas Sands Corp. (Hotels, Restaurants & Leisure) | | | 604 | | | | 39,447 | |
| Leggett & Platt, Inc. (Household Durables) | | | 235 | | | | 11,184 | |
| Leidos Holdings, Inc. (IT Services) | | | 238 | | | | 23,912 | |
| Lennar Corp. - Class A (Household Durables) | | | 500 | | | | 33,180 | |
| Lincoln National Corp. (Insurance) | | | 355 | | | | 19,340 | |
| Linde PLC (Chemicals) | | | 961 | | | | 195,207 | |
| Live Nation Entertainment, Inc.* (Entertainment) | | | 252 | | | | 17,176 | |
| LKQ Corp.* (Distributors) | | | 548 | | | | 17,911 | |
| Lockheed Martin Corp. (Aerospace & Defense) | | | 444 | | | | 190,085 | |
| Loews Corp. (Insurance) | | | 457 | | | | 23,513 | |
| Lowe's Cos., Inc. (Specialty Retail) | | | 1,371 | | | | 159,365 | |
| LyondellBasell Industries N.V. - Class A (Chemicals) | | | 459 | | | | 35,738 | |
| M&T Bank Corp. (Banks) | | | 236 | | | | 39,771 | |
| Macy's, Inc. (Multiline Retail) | | | 553 | | | | 8,820 | |
| Marathon Oil Corp. (Oil, Gas & Consumable Fuels) | | | 1,430 | | | | 16,259 | |
| Marathon Petroleum Corp. (Oil, Gas & Consumable Fuels) | | | 1,161 | | | | 63,275 | |
| MarketAxess Holdings, Inc. (Capital Markets) | | | 68 | | | | 24,084 | |
| Marriott International, Inc. - Class A (Hotels, Restaurants & Leisure) | | | 486 | | | | 68,014 | |
| Marsh & McLennan Cos., Inc. (Insurance) | | | 902 | | | | 100,898 | |
| Martin Marietta Materials, Inc. (Construction Materials) | | | 112 | | | | 29,546 | |
| Masco Corp. (Building Products) | | | 508 | | | | 24,140 | |
| MasterCard, Inc. - Class A (IT Services) | | | 1,587 | | | | 501,396 | |
| Maxim Integrated Products, Inc. (Semiconductors & Semiconductor Equipment) | | | 484 | | | | 29,098 | |
| McCormick & Co., Inc. (Food Products) | | | 221 | | | | 36,105 | |
| McDonald's Corp. (Hotels, Restaurants & Leisure) | | | 1,347 | | | | 288,218 | |
| McKesson Corp. (Health Care Providers & Services) | | | 322 | | | | 45,920 | |
| Medtronic PLC (Health Care Equipment & Supplies) | | | 2,397 | | | | 276,711 | |
| Merck & Co., Inc. (Pharmaceuticals) | | | 4,553 | | | | 389,008 | |
| MetLife, Inc. (Insurance) | | | 1,398 | | | | 69,495 | |
| Mettler-Toledo International, Inc.* (Life Sciences Tools & Services) | | | 44 | | | | 33,316 | |
| MGM Resorts International (Hotels, Restaurants & Leisure) | | | 921 | | | | 28,606 | |
| Microchip Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 427 | | | | 41,624 | |
| Micron Technology, Inc.* (Semiconductors & Semiconductor Equipment) | | | 1,980 | | | | 105,118 | |
| Microsoft Corp. (Software) | | | 13,641 | | | | 2,322,108 | |
| Mid-America Apartment Communities, Inc. (Equity Real Estate Investment Trusts) | | | 204 | | | | 27,991 | |
| Mohawk Industries, Inc.* (Household Durables) | | | 106 | | | | 13,958 | |
| Molson Coors Beverage Co. - Class B (Beverages) | | | 336 | | | | 18,675 | |
| Mondelez International, Inc. - Class A (Food Products) | | | 2,575 | | | | 147,754 | |
| Monster Beverage Corp.* (Beverages) | | | 683 | | | | 45,488 | |
| Moody's Corp. (Capital Markets) | | | 290 | | | | 74,469 | |
| Morgan Stanley (Capital Markets) | | | 2,200 | | | | 114,972 | |
| Motorola Solutions, Inc. (Communications Equipment) | | | 306 | | | | 54,162 | |
| MSCI, Inc. - Class A (Capital Markets) | | | 151 | | | | 43,156 | |
| Mylan N.V.* (Pharmaceuticals) | | | 923 | | | | 19,771 | |
| Nasdaq, Inc. (Capital Markets) | | | 205 | | | | 23,874 | |
Bull ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| National Oilwell Varco, Inc. (Energy Equipment & Services) | | | 690 | | | $ | 14,221 | |
| NetApp, Inc. (Technology Hardware, Storage & Peripherals) | | | 408 | | | | 21,787 | |
| Netflix, Inc.* (Entertainment) | | | 784 | | | | 270,551 | |
| Newell Brands, Inc. (Household Durables) | | | 681 | | | | 13,300 | |
| Newmont Corp. (Metals & Mining) | | | 1,466 | | | | 66,058 | |
| News Corp. - Class A (Media) | | | 695 | | | | 9,466 | |
| News Corp. - Class B (Media) | | | 218 | | | | 3,045 | |
| NextEra Energy, Inc. (Electric Utilities) | | | 874 | | | | 234,407 | |
| Nielsen Holdings PLC (Professional Services) | | | 636 | | | | 12,974 | |
| NIKE, Inc. - Class B (Textiles, Apparel & Luxury Goods) | | | 2,228 | | | | 214,555 | |
| NiSource, Inc. (Multi-Utilities) | | | 668 | | | | 19,579 | |
| Noble Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 855 | | | | 16,903 | |
| Nordstrom, Inc. (Multiline Retail) | | | 192 | | | | 7,077 | |
| Norfolk Southern Corp. (Road & Rail) | | | 466 | | | | 97,026 | |
| Northern Trust Corp. (Capital Markets) | | | 379 | | | | 37,070 | |
| Northrop Grumman Corp. (Aerospace & Defense) | | | 280 | | | | 104,880 | |
| NortonLifelock, Inc. (Software) | | | 1,025 | | | | 29,131 | |
| Norwegian Cruise Line Holdings, Ltd.* (Hotels, Restaurants & Leisure) | | | 380 | | | | 20,463 | |
| NRG Energy, Inc. (Independent Power and Renewable Electricity Producers) | | | 450 | | | | 16,601 | |
| Nucor Corp. (Metals & Mining) | | | 542 | | | | 25,740 | |
| NVIDIA Corp. (Semiconductors & Semiconductor Equipment) | | | 1,094 | | | | 258,654 | |
| NVR, Inc.* (Household Durables) | | | 6 | | | | 22,902 | |
| Occidental Petroleum Corp. (Oil, Gas & Consumable Fuels) | | | 1,597 | | | | 63,433 | |
| Old Dominion Freight Line, Inc. (Road & Rail) | | | 114 | | | | 22,370 | |
| Omnicom Group, Inc. (Media) | | | 389 | | | | 29,296 | |
| ONEOK, Inc. (Oil, Gas & Consumable Fuels) | | | 739 | | | | 55,329 | |
| Oracle Corp. (Software) | | | 3,874 | | | | 203,191 | |
| O'Reilly Automotive, Inc.* (Specialty Retail) | | | 135 | | | | 54,824 | |
| PACCAR, Inc. (Machinery) | | | 618 | | | | 45,862 | |
| Packaging Corp. of America (Containers & Packaging) | | | 169 | | | | 16,182 | |
| Parker-Hannifin Corp. (Machinery) | | | 230 | | | | 45,009 | |
| Paychex, Inc. (IT Services) | | | 570 | | | | 48,889 | |
| Paycom Software, Inc.* (Software) | | | 88 | | | | 27,998 | |
| PayPal Holdings, Inc.* (IT Services) | | | 2,100 | | | | 239,169 | |
| Pentair PLC (Machinery) | | | 301 | | | | 12,922 | |
| People's United Financial, Inc. (Banks) | | | 794 | | | | 12,243 | |
| PepsiCo, Inc. (Beverages) | | | 2,493 | | | | 354,056 | |
| PerkinElmer, Inc. (Life Sciences Tools & Services) | | | 199 | | | | 18,404 | |
| Perrigo Co. PLC (Pharmaceuticals) | | | 243 | | | | 13,861 | |
| Pfizer, Inc. (Pharmaceuticals) | | | 9,896 | | | | 368,527 | |
| Philip Morris International, Inc. (Tobacco) | | | 2,782 | | | | 230,072 | |
| Phillips 66 (Oil, Gas & Consumable Fuels) | | | 795 | | | | 72,639 | |
| Pinnacle West Capital Corp. (Electric Utilities) | | | 201 | | | | 19,636 | |
| Pioneer Natural Resources Co. (Oil, Gas & Consumable Fuels) | | | 296 | | | | 39,960 | |
| PPG Industries, Inc. (Chemicals) | | | 423 | | | | 50,692 | |
| PPL Corp. (Electric Utilities) | | | 1,293 | | | | 46,794 | |
| Principal Financial Group, Inc. (Insurance) | | | 462 | | | | 24,463 | |
| Prologis, Inc. (Equity Real Estate Investment Trusts) | | | 1,130 | | | | 104,954 | |
| Prudential Financial, Inc. (Insurance) | | | 719 | | | | 65,472 | |
| Public Service Enterprise Group, Inc. (Multi-Utilities) | | | 904 | | | | 53,517 | |
| Public Storage (Equity Real Estate Investment Trusts) | | | 269 | | | | 60,191 | |
| PulteGroup, Inc. (Household Durables) | | | 456 | | | | 20,360 | |
| PVH Corp. (Textiles, Apparel & Luxury Goods) | | | 133 | | | | 11,594 | |
| Qorvo, Inc.* (Semiconductors & Semiconductor Equipment) | | | 208 | | | | 22,019 | |
| Qualcomm, Inc. (Semiconductors & Semiconductor Equipment) | | | 2,042 | | | | 174,203 | |
| Quanta Services, Inc. (Construction & Engineering) | | | 254 | | | | 9,944 | |
| Quest Diagnostics, Inc. (Health Care Providers & Services) | | | 241 | | | | 26,671 | |
| Ralph Lauren Corp. (Textiles, Apparel & Luxury Goods) | | | 89 | | | | 10,102 | |
| Raymond James Financial, Inc. (Capital Markets) | | | 221 | | | | 20,206 | |
| Raytheon Co. (Aerospace & Defense) | | | 498 | | | | 110,028 | |
| Realty Income Corp. (Equity Real Estate Investment Trusts) | | | 583 | | | | 45,713 | |
| Regency Centers Corp. (Equity Real Estate Investment Trusts) | | | 300 | | | | 18,612 | |
| Regeneron Pharmaceuticals, Inc.* (Biotechnology) | | | 143 | | | | 48,325 | |
| Regions Financial Corp. (Banks) | | | 1,725 | | | | 26,858 | |
| Republic Services, Inc. - Class A (Commercial Services & Supplies) | | | 377 | | | | 35,834 | |
| ResMed, Inc. (Health Care Equipment & Supplies) | | | 257 | | | | 40,855 | |
| Robert Half International, Inc. (Professional Services) | | | 210 | | | | 12,216 | |
| Rockwell Automation, Inc. (Electrical Equipment) | | | 207 | | | | 39,674 | |
| Rollins, Inc. (Commercial Services & Supplies) | | | 252 | | | | 9,563 | |
| Roper Technologies, Inc. (Industrial Conglomerates) | | | 186 | | | | 70,989 | |
| Ross Stores, Inc. (Specialty Retail) | | | 647 | | | | 72,587 | |
| Royal Caribbean Cruises, Ltd. (Hotels, Restaurants & Leisure) | | | 307 | | | | 35,944 | |
| S&P Global, Inc. (Capital Markets) | | | 437 | | | | 128,360 | |
| Salesforce.com, Inc.* (Software) | | | 1,586 | | | | 289,144 | |
| SBA Communications Corp. (Equity Real Estate Investment Trusts) | | | 201 | | | | 50,162 | |
| Schlumberger, Ltd. (Energy Equipment & Services) | | | 2,475 | | | | 82,936 | |
| Seagate Technology PLC (Technology Hardware, Storage & Peripherals) | | | 413 | | | | 23,537 | |
| Sealed Air Corp. (Containers & Packaging) | | | 276 | | | | 9,798 | |
| Sempra Energy (Multi-Utilities) | | | 504 | | | | 80,963 | |
| ServiceNow, Inc.* (Software) | | | 337 | | | | 113,984 | |
Bull ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Simon Property Group, Inc. (Equity Real Estate Investment Trusts) | | | 549 | | | $ | 73,099 | |
| Skyworks Solutions, Inc. (Semiconductors & Semiconductor Equipment) | | | 305 | | | | 34,511 | |
| SL Green Realty Corp. (Equity Real Estate Investment Trusts) | | | 146 | | | | 13,438 | |
| Snap-on, Inc. (Machinery) | | | 98 | | | | 15,644 | |
| Southwest Airlines Co. (Airlines) | | | 847 | | | | 46,568 | |
| Stanley Black & Decker, Inc. (Machinery) | | | 272 | | | | 43,338 | |
| Starbucks Corp. (Hotels, Restaurants & Leisure) | | | 2,112 | | | | 179,161 | |
| State Street Corp. (Capital Markets) | | | 650 | | | | 49,160 | |
| STERIS PLC (Health Care Equipment & Supplies) | | | 152 | | | | 22,905 | |
| Stryker Corp. (Health Care Equipment & Supplies) | | | 576 | | | | 121,363 | |
| SVB Financial Group* (Banks) | | | 92 | | | | 22,110 | |
| Synchrony Financial (Consumer Finance) | | | 1,063 | | | | 34,452 | |
| Synopsys, Inc.* (Software) | | | 269 | | | | 39,680 | |
| Sysco Corp. (Food & Staples Retailing) | | | 912 | | | | 74,912 | |
| T. Rowe Price Group, Inc. (Capital Markets) | | | 418 | | | | 55,816 | |
| Take-Two Interactive Software, Inc.* (Entertainment) | | | 202 | | | | 25,177 | |
| Tapestry, Inc. (Textiles, Apparel & Luxury Goods) | | | 493 | | | | 12,705 | |
| Target Corp. (Multiline Retail) | | | 906 | | | | 100,330 | |
| TE Connectivity, Ltd. (Electronic Equipment, Instruments & Components) | | | 598 | | | | 55,123 | |
| TechnipFMC PLC (Energy Equipment & Services) | | | 751 | | | | 12,399 | |
| Teleflex, Inc. (Health Care Equipment & Supplies) | | | 83 | | | | 30,835 | |
| Texas Instruments, Inc. (Semiconductors & Semiconductor Equipment) | | | 1,671 | | | | 201,606 | |
| Textron, Inc. (Aerospace & Defense) | | | 408 | | | | 18,739 | |
| The AES Corp. (Independent Power and Renewable Electricity Producers) | | | 1,187 | | | | 23,573 | |
| The Allstate Corp. (Insurance) | | | 579 | | | | 68,635 | |
| The Bank of New York Mellon Corp. (Capital Markets) | | | 1,501 | | | | 67,215 | |
| The Boeing Co. (Aerospace & Defense) | | | 956 | | | | 304,267 | |
| The Charles Schwab Corp. (Capital Markets) | | | 2,044 | | | | 93,104 | |
| The Clorox Co. (Household Products) | | | 224 | | | | 35,237 | |
| The Coca-Cola Co. (Beverages) | | | 6,895 | | | | 402,667 | |
| The Cooper Cos., Inc. (Health Care Equipment & Supplies) | | | 89 | | | | 30,873 | |
| The Estee Lauder Co., Inc. (Personal Products) | | | 398 | | | | 77,673 | |
| The Gap, Inc. (Specialty Retail) | | | 380 | | | | 6,616 | |
| The Goldman Sachs Group, Inc. (Capital Markets) | | | 570 | | | | 135,517 | |
| The Hershey Co. (Food Products) | | | 265 | | | | 41,120 | |
| The Home Depot, Inc. (Specialty Retail) | | | 1,951 | | | | 445,022 | |
| The Interpublic Group of Cos., Inc. (Media) | | | 693 | | | | 15,731 | |
| The JM Smucker Co. - Class A (Food Products) | | | 204 | | | | 21,136 | |
| The Kraft Heinz Co. (Food Products) | | | 1,114 | | | | 32,529 | |
| The Kroger Co. (Food & Staples Retailing) | | | 1,434 | | | | 38,517 | |
| The Mosaic Co. (Chemicals) | | | 625 | | | | 12,400 | |
| The PNC Financial Services Group, Inc (Banks) | | | 784 | | | | 116,463 | |
| The Procter & Gamble Co. (Household Products) | | | 4,459 | | | | 555,680 | |
| The Progressive Corp. (Insurance) | | | 1,045 | | | | 84,321 | |
| The Sherwin-Williams Co. (Chemicals) | | | 147 | | | | 81,878 | |
| The Southern Co. (Electric Utilities) | | | 1,875 | | | | 132,000 | |
| The TJX Cos., Inc. (Specialty Retail) | | | 2,168 | | | | 127,999 | |
| The Travelers Cos., Inc. (Insurance) | | | 462 | | | | 60,808 | |
| The Walt Disney Co. (Entertainment) | | | 3,223 | | | | 445,773 | |
| The Western Union Co. (IT Services) | | | 750 | | | | 20,175 | |
| The Williams Cos., Inc. (Oil, Gas & Consumable Fuels) | | | 2,167 | | | | 44,835 | |
| Thermo Fisher Scientific, Inc. (Life Sciences Tools & Services) | | | 717 | | | | 224,556 | |
| Tiffany & Co. (Specialty Retail) | | | 193 | | | | 25,866 | |
| T-Mobile U.S., Inc.* (Wireless Telecommunication Services) | | | 566 | | | | 44,822 | |
| Tractor Supply Co. (Specialty Retail) | | | 212 | | | | 19,705 | |
| TransDigm Group, Inc. (Aerospace & Defense) | | | 89 | | | | 57,252 | |
| Truist Financial Corp. (Banks) | | | 2,398 | | | | 123,665 | |
| Twitter, Inc.* (Interactive Media & Services) | | | 1,388 | | | | 45,082 | |
| Tyson Foods, Inc. - Class A (Food Products) | | | 528 | | | | 43,629 | |
| U.S. Bancorp (Banks) | | | 2,541 | | | | 135,232 | |
| UDR, Inc. (Equity Real Estate Investment Trusts) | | | 524 | | | | 25,105 | |
| Ulta Beauty, Inc.* (Specialty Retail) | | | 102 | | | | 27,327 | |
| Under Armour, Inc.* - Class A (Textiles, Apparel & Luxury Goods) | | | 337 | | | | 6,801 | |
| Under Armour, Inc.* - Class C (Textiles, Apparel & Luxury Goods) | | | 348 | | | | 6,250 | |
| Union Pacific Corp. (Road & Rail) | | | 1,241 | | | | 222,661 | |
| United Airlines Holdings , Inc.* (Airlines) | | | 389 | | | | 29,097 | |
| United Parcel Service, Inc. - Class B (Air Freight & Logistics) | | | 1,253 | | | | 129,711 | |
| United Rentals, Inc.* (Trading Companies & Distributors) | | | 134 | | | | 18,182 | |
| United Technologies Corp. (Aerospace & Defense) | | | 1,451 | | | | 217,940 | |
| UnitedHealth Group, Inc. (Health Care Providers & Services) | | | 1,694 | | | | 461,531 | |
| Universal Health Services, Inc. - Class B (Health Care Providers & Services) | | | 144 | | | | 19,744 | |
| Unum Group (Insurance) | | | 369 | | | | 9,849 | |
| Valero Energy Corp. (Oil, Gas & Consumable Fuels) | | | 734 | | | | 61,884 | |
| Varian Medical Systems, Inc.* (Health Care Equipment & Supplies) | | | 163 | | | | 22,913 | |
| Ventas, Inc. (Equity Real Estate Investment Trusts) | | | 666 | | | | 38,535 | |
| VeriSign, Inc.* (IT Services) | | | 185 | | | | 38,506 | |
| Verisk Analytics, Inc. - Class A (Professional Services) | | | 293 | | | | 47,604 | |
| Verizon Communications, Inc. (Diversified Telecommunication Services) | | | 7,395 | | | | 439,559 | |
| Vertex Pharmaceuticals, Inc.* (Biotechnology) | | | 460 | | | | 104,443 | |
Bull ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| VF Corp. (Textiles, Apparel & Luxury Goods) | | | 586 | | | $ | 48,620 | |
| ViacomCBS, Inc. - Class B (Media) | | | 966 | | | | 32,970 | |
| Visa, Inc. - Class A (IT Services) | | | 3,061 | | | | 609,046 | |
| Vornado Realty Trust (Equity Real Estate Investment Trusts) | | | 283 | | | | 18,613 | |
| Vulcan Materials Co. (Construction Materials) | | | 237 | | | | 33,566 | |
| W.R. Berkley Corp. (Insurance) | | | 259 | | | | 19,044 | |
| W.W. Grainger, Inc. (Trading Companies & Distributors) | | | 78 | | | | 23,608 | |
| Walgreens Boots Alliance, Inc. (Food & Staples Retailing) | | | 1,341 | | | | 68,190 | |
| Walmart, Inc. (Food & Staples Retailing) | | | 2,537 | | | | 290,461 | |
| Waste Management, Inc. (Commercial Services & Supplies) | | | 698 | | | | 84,947 | |
| Waters Corp.* (Life Sciences Tools & Services) | | | 115 | | | | 25,736 | |
| WEC Energy Group, Inc. (Multi-Utilities) | | | 564 | | | | 56,338 | |
| Wells Fargo & Co. (Banks) | | | 6,882 | | | | 323,041 | |
| Welltower, Inc. (Equity Real Estate Investment Trusts) | | | 726 | | | | 61,645 | |
| Western Digital Corp. (Technology Hardware, Storage & Peripherals) | | | 532 | | | | 34,846 | |
| Westinghouse Air Brake Technologies Corp. (Machinery) | | | 326 | | | | 24,078 | |
| WestRock Co. (Containers & Packaging) | | | 461 | | | | 17,979 | |
| Weyerhaeuser Co. (Equity Real Estate Investment Trusts) | | | 1,332 | | | | 38,561 | |
| Whirlpool Corp. (Household Durables) | | | 113 | | | | 16,517 | |
| Willis Towers Watson PLC (Insurance) | | | 230 | | | | 48,597 | |
| Wynn Resorts, Ltd. (Hotels, Restaurants & Leisure) | | | 173 | | | | 21,826 | |
| Xcel Energy, Inc. (Electric Utilities) | | | 938 | | | | 64,900 | |
| Xerox Holdings Corp. (Technology Hardware, Storage & Peripherals) | | | 332 | | | | 11,809 | |
| Xilinx, Inc. (Semiconductors & Semiconductor Equipment) | | | 450 | | | | 38,016 | |
| Xylem, Inc. (Machinery) | | | 322 | | | | 26,295 | |
| YUM! Brands, Inc. (Hotels, Restaurants & Leisure) | | | 541 | | | | 57,222 | |
| Zebra Technologies Corp.* - Class A (Electronic Equipment, Instruments & Components) | | | 96 | | | | 22,946 | |
| Zimmer Biomet Holdings, Inc. (Health Care Equipment & Supplies) | | | 368 | | | | 54,427 | |
| Zions Bancorp (Banks) | | | 305 | | | | 13,874 | |
| Zoetis, Inc. (Pharmaceuticals) | | | 852 | | | | 114,347 | |
| TOTAL COMMON STOCKS | | | | | | | | |
| (Cost $17,404,938) | | | | | | | 47,788,913 | |
Repurchase Agreements(b)(c)(32.3%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%-1.51%, dated 1/31/20, due 2/3/20, total to be received $21,653,628 | | $ | 21,651,000 | | | $ | 21,651,000 | |
| TOTAL REPURCHASE AGREEMENTS | | | | | | | | |
| (Cost $21,651,000) | | | | | | | 21,651,000 | |
Collateral for Securities Loaned(NM)
| | | Shares | | | Value | |
| BlackRock Liquidity Funds FedFund Portfolio - Institutional Shares, 1.57%(d) | | | 9,999 | | | $ | 9,999 | |
| Invesco Government & Agency Portfolio - Institutional Shares, 1.58%(d) | | | 3,064 | | | | 3,064 | |
| Fidelity Investments Money Market Government Portfolio - Class I, 1.58%(d) | | | 9,513 | | | | 9,513 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $22,576) | | | | | | | 22,576 | |
| TOTAL INVESTMENT SECURITIES | | | | | | | | |
| (Cost $39,078,514) - 103.7% | | | | | | | 69,462,489 | |
| Net other assets (liabilities) - (3.7)% | | | | | | | (2,485,668 | ) |
| NET ASSETS - 100.0% | | | | | | $ | 66,976,821 | |
| * | Non-income producing security. |
| † | Number of shares is less than 0.50. |
| (a) | All or part of this security was on loan as of January 31, 2020. The total value of securities on loan as of January 31, 2020 was $21,764. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $1,655,000. |
| (c) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (d) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2020. |
Bull ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Futures Contracts Purchased
| | | Number
of
Contracts | | | Expiration
Date | | Notional Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini S&P 500 Futures Contracts | | | 59 | | | 3/23/20 | | $ | 9,506,375 | | | $ | 151,829 | |
Total Return Swap Agreements — Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| S&P 500 | | Goldman Sachs International | | 2/27/20 | | | 2.14 | % | | $ | 5,760,140 | | | $ | (24,613 | ) |
| S&P 500 | | UBS AG | | 2/27/20 | | | 2.09 | % | | | 3,924,320 | | | | (33,140 | ) |
| | | | | | | | | | | $ | 9,684,460 | | | $ | (57,753 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
Bull ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Bull ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 1,203,934 | | | | 1.8 | % |
| Air Freight & Logistics | | | 231,516 | | | | 0.3 | % |
| Airlines | | | 165,939 | | | | 0.2 | % |
| Auto Components | | | 51,317 | | | | 0.1 | % |
| Automobiles | | | 145,693 | | | | 0.2 | % |
| Banks | | | 2,493,519 | | | | 3.7 | % |
| Beverages | | | 899,427 | | | | 1.3 | % |
| Biotechnology | | | 888,968 | | | | 1.3 | % |
| Building Products | | | 127,577 | | | | 0.2 | % |
| Capital Markets | | | 1,320,093 | | | | 2.0 | % |
| Chemicals | | | 843,237 | | | | 1.3 | % |
| Commercial Services & Supplies | | | 209,324 | | | | 0.3 | % |
| Communications Equipment | | | 451,584 | | | | 0.7 | % |
| Construction & Engineering | | | 32,336 | | | | NM | |
| Construction Materials | | | 63,112 | | | | 0.1 | % |
| Consumer Finance | | | 315,577 | | | | 0.5 | % |
| Containers & Packaging | | | 164,963 | | | | 0.2 | % |
| Distributors | | | 42,240 | | | | 0.1 | % |
| Diversified Consumer Services | | | 8,097 | | | | NM | |
| Diversified Financial Services | | | 785,056 | | | | 1.2 | % |
| Diversified Telecommunication Services | | | 954,925 | | | | 1.4 | % |
| Electric Utilities | | | 1,053,225 | | | | 1.6 | % |
| Electrical Equipment | | | 227,226 | | | | 0.3 | % |
| Electronic Equipment, Instruments & Components | | | 252,705 | | | | 0.4 | % |
| Energy Equipment & Services | | | 176,834 | | | | 0.3 | % |
| Entertainment | | | 895,363 | | | | 1.3 | % |
| Equity Real Estate Investment Trusts | | | 1,382,733 | | | | 2.1 | % |
| Food & Staples Retailing | | | 713,441 | | | | 1.1 | % |
| Food Products | | | 544,186 | | | | 0.8 | % |
| Gas Utilities | | | 24,927 | | | | NM | |
| Health Care Equipment & Supplies | | | 1,714,373 | | | | 2.6 | % |
| Health Care Providers & Services | | | 1,282,321 | | | | 1.9 | % |
| Health Care Technology | | | 40,368 | | | | 0.1 | % |
| Hotels, Restaurants & Leisure | | | 889,876 | | | | 1.3 | % |
| Household Durables | | | 191,934 | | | | 0.3 | % |
| Household Products | | | 824,411 | | | | 1.2 | % |
| Independent Power and Renewable Electricity Producers | | | 40,174 | | | | 0.1 | % |
| Industrial Conglomerates | | | 649,898 | | | | 1.0 | % |
| Insurance | | | 1,109,576 | | | | 1.7 | % |
| Interactive Media & Services | | | 2,447,750 | | | | 3.7 | % |
| Internet & Direct Marketing Retail | | | 1,706,777 | | | | 2.5 | % |
| IT Services | | | 2,687,299 | | | | 3.9 | % |
| Leisure Products | | | 23,226 | | | | NM | |
| Life Sciences Tools & Services | | | 474,102 | | | | 0.7 | % |
| Machinery | | | 726,941 | | | | 1.1 | % |
| Media | | | 661,762 | | | | 1.0 | % |
| Metals & Mining | | | 120,591 | | | | 0.2 | % |
| Multiline Retail | | | 234,830 | | | | 0.4 | % |
| Multi-Utilities | | | 532,758 | | | | 0.8 | % |
| Oil, Gas & Consumable Fuels | | | 1,670,333 | | | | 2.5 | % |
| Personal Products | | | 83,101 | | | | 0.1 | % |
| Pharmaceuticals | | | 2,190,536 | | | | 3.3 | % |
| Professional Services | | | 161,865 | | | | 0.2 | % |
| Real Estate Management & Development | | | 36,569 | | | | 0.1 | % |
| Road & Rail | | | 494,509 | | | | 0.7 | % |
| Semiconductors & Semiconductor Equipment | | | 2,004,132 | | | | 3.0 | % |
| Software | | | 3,671,081 | | | | 5.5 | % |
| Specialty Retail | | | 1,073,750 | | | | 1.6 | % |
| Technology Hardware, Storage & Peripherals | | | 2,492,132 | | | | 3.7 | % |
| Textiles, Apparel & Luxury Goods | | | 327,649 | | | | 0.5 | % |
| Tobacco | | | 388,822 | | | | 0.6 | % |
| Trading Companies & Distributors | | | 77,578 | | | | 0.1 | % |
| Water Utilities | | | 43,993 | | | | 0.1 | % |
| Wireless Telecommunication Services | | | 44,822 | | | | 0.1 | % |
| Other ** | | | 19,187,908 | | | | 28.6 | % |
| Total | | $ | 66,976,821 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
| NM | Not meaningful, amount is less than 0.05%. |
Small-Cap ProFund:: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
| Common Stocks (61.6%) |
| | | Shares | | | Value | |
| 1-800-Flowers.com, Inc.* - Class A (Internet & Direct Marketing Retail) | | | 36 | | | $ | 547 | |
| 1st Source Corp. (Banks) | | | 25 | | | | 1,180 | |
| 3D Systems Corp.* (Technology Hardware, Storage & Peripherals) | | | 155 | | | | 1,688 | |
| 8x8, Inc.* (Software) | | | 121 | | | | 2,253 | |
| AAON, Inc. (Building Products) | | | 60 | | | | 3,146 | |
| AAR Corp. (Aerospace & Defense) | | | 49 | | | | 2,086 | |
| Aaron's, Inc. (Specialty Retail) | | | 98 | | | | 5,818 | |
| Abercrombie & Fitch Co. - Class A (Specialty Retail) | | | 84 | | | | 1,374 | |
| ABM Industries, Inc. (Commercial Services & Supplies) | | | 85 | | | | 3,242 | |
| Acacia Communications, Inc.* (Communications Equipment) | | | 49 | | | | 3,359 | |
| ACADIA Pharmaceuticals, Inc.* (Biotechnology) | | | 145 | | | | 5,790 | |
| Acadia Realty Trust (Equity Real Estate Investment Trusts) | | | 109 | | | | 2,705 | |
| Accelerate Diagnostics, Inc.*(a) (Life Sciences Tools & Services) | | | 36 | | | | 605 | |
| Acceleron Pharma, Inc.* (Biotechnology) | | | 60 | | | | 5,447 | |
| ACCO Brands Corp. (Commercial Services & Supplies) | | | 132 | | | | 1,140 | |
| ACI Worldwide, Inc.* (Software) | | | 145 | | | | 4,995 | |
| Acushnet Holdings Corp. (Leisure Products) | | | 48 | | | | 1,487 | |
| Addus Homecare Corp.* (Health Care Providers & Services) | | | 12 | | | | 1,132 | |
| Adient PLC* (Auto Components) | | | 121 | | | | 3,111 | |
| Adtalem Global Education, Inc.* (Diversified Consumer Services) | | | 73 | | | | 2,519 | |
| ADTRAN, Inc. (Communications Equipment) | | | 58 | | | | 525 | |
| Advanced Disposal Services, Inc.* (Commercial Services & Supplies) | | | 98 | | | | 3,229 | |
| Advanced Drainage Systems, Inc. (Building Products) | | | 47 | | | | 1,954 | |
| Advanced Energy Industries, Inc.* (Semiconductors & Semiconductor Equipment) | | | 49 | | | | 3,427 | |
| AdvanSix, Inc.* (Chemicals) | | | 36 | | | | 674 | |
| Adverum Biotechnologies, Inc.* (Biotechnology) | | | 70 | | | | 691 | |
| Aegion Corp.* (Construction & Engineering) | | | 37 | | | | 773 | |
| Aerie Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 60 | | | | 1,229 | |
| Aerojet Rocketdyne Holdings, Inc.* (Aerospace & Defense) | | | 98 | | | | 5,103 | |
| AeroVironment, Inc.* (Aerospace & Defense) | | | 25 | | | | 1,665 | |
| AG Mortgage Investment Trust, Inc. (Mortgage Real Estate Investment Trusts) | | | 47 | | | | 745 | |
| Agree Realty Corp. (Equity Real Estate Investment Trusts) | | | 49 | | | | 3,721 | |
| Aimmune Therapeutics, Inc.* (Biotechnology) | | | 61 | | | | 1,894 | |
| Air Transport Services Group, Inc.* (Air Freight & Logistics) | | | 84 | | | | 1,761 | |
| Aircastle, Ltd. (Trading Companies & Distributors) | | | 73 | | | | 2,343 | |
| AK Steel Holding Corp.* (Metals & Mining) | | | 420 | | | | 1,159 | |
| Akebia Therapeutics, Inc.* (Biotechnology) | | | 155 | | | | 1,119 | |
| Akorn, Inc.* (Pharmaceuticals) | | | 119 | | | | 182 | |
| Alamo Group, Inc. (Machinery) | | | 12 | | | | 1,495 | |
| Alarm.com Holdings, Inc.* (Software) | | | 49 | | | | 2,153 | |
| Albany International Corp. - Class A (Machinery) | | | 37 | | | | 2,581 | |
| Alexander & Baldwin, Inc. (Equity Real Estate Investment Trusts) | | | 97 | | | | 2,120 | |
| Allakos, Inc.* (Biotechnology) | | | 25 | | | | 1,805 | |
| Allegheny Technologies, Inc.* (Metals & Mining) | | | 169 | | | | 2,915 | |
| Allegiance Bancshares, Inc.* (Banks) | | | 24 | | | | 893 | |
| Allegiant Travel Co. (Airlines) | | | 12 | | | | 2,016 | |
| ALLETE, Inc. (Electric Utilities) | | | 72 | | | | 6,011 | |
| Allogene Therapeutics, Inc.* (Biotechnology) | | | 48 | | | | 1,043 | |
| Allscripts Healthcare Solutions, Inc.* (Health Care Technology) | | | 228 | | | | 1,956 | |
| Altair Engineering, Inc.* - Class A (Software) | | | 49 | | | | 1,811 | |
| Altra Industrial Motion Corp. (Machinery) | | | 85 | | | | 2,827 | |
| Ambac Financial Group, Inc.* (Insurance) | | | 60 | | | | 1,286 | |
| Ambarella, Inc.* (Semiconductors & Semiconductor Equipment) | | | 49 | | | | 2,898 | |
| AMC Entertainment Holdings, Inc.(a) - Class A (Entertainment) | | | 70 | | | | 456 | |
| Amedisys, Inc.* (Health Care Providers & Services) | | | 49 | | | | 8,647 | |
| American Assets Trust, Inc. (Equity Real Estate Investment Trusts) | | | 60 | | | | 2,734 | |
| American Axle & Manufacturing Holdings, Inc.* (Auto Components) | | | 156 | | | | 1,441 | |
| American Eagle Outfitters, Inc. (Specialty Retail) | | | 217 | | | | 3,125 | |
| American Equity Investment Life Holding Co. (Insurance) | | | 121 | | | | 3,196 | |
| American Finance Trust, Inc. (Equity Real Estate Investment Trusts) | | | 144 | | | | 1,868 | |
| American Outdoor Brands Corp.* (Leisure Products) | | | 70 | | | | 659 | |
| American Public Education, Inc.* (Diversified Consumer Services) | | | 24 | | | | 572 | |
| American States Water Co. (Water Utilities) | | | 49 | | | | 4,339 | |
| American Vanguard Corp. (Chemicals) | | | 35 | | | | 654 | |
| American Woodmark Corp.* (Building Products) | | | 25 | | | | 2,741 | |
| America's Car-Mart, Inc.* (Specialty Retail) | | | 12 | | | | 1,317 | |
| Ameris Bancorp (Banks) | | | 85 | | | | 3,416 | |
| AMERISAFE, Inc. (Insurance) | | | 25 | | | | 1,711 | |
| Amicus Therapeutics, Inc.* (Biotechnology) | | | 313 | | | | 2,767 | |
| Amkor Technology, Inc.* (Semiconductors & Semiconductor Equipment) | | | 132 | | | | 1,485 | |
| AMN Healthcare Services, Inc.* (Health Care Providers & Services) | | | 60 | | | | 4,043 | |
| Amneal Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 119 | | | | 534 | |
| Amphastar Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 48 | | | | 908 | |
| AnaptysBio, Inc.* (Biotechnology) | | | 36 | | | | 523 | |
| AngioDynamics, Inc.* (Health Care Equipment & Supplies) | | | 47 | | | | 647 | |
| ANI Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 12 | | | | 744 | |
Small-Cap ProFund:: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
| Common Stocks, continued |
| | | Shares | | | Value | |
| Anika Therapeutics, Inc.* (Health Care Equipment & Supplies) | | | 25 | | | $ | 1,028 | |
| Anixter International, Inc.* (Electronic Equipment, Instruments & Components) | | | 37 | | | | 3,611 | |
| Antares Pharma, Inc.* (Health Care Equipment & Supplies) | | | 217 | | | | 796 | |
| Anterix, Inc.* (Diversified Telecommunication Services) | | | 12 | | | | 558 | |
| Apellis Pharmaceuticals, Inc.* (Biotechnology) | | | 61 | | | | 2,508 | |
| Apogee Enterprises, Inc. (Building Products) | | | 37 | | | | 1,177 | |
| Apollo Commercial Real Estate Finance, Inc. (Mortgage Real Estate Investment Trusts) | | | 205 | | | | 3,746 | |
| Appfolio, Inc.* (Software) | | | 25 | | | | 3,286 | |
| Appian Corp.* (Software) | | | 37 | | | | 1,888 | |
| Applied Industrial Technologies, Inc. (Trading Companies & Distributors) | | | 49 | | | | 3,164 | |
| ArcBest Corp. (Road & Rail) | | | 36 | | | | 803 | |
| Arch Coal, Inc. (Oil, Gas & Consumable Fuels) | | | 25 | | | | 1,288 | |
| Archrock, Inc. (Energy Equipment & Services) | | | 168 | | | | 1,403 | |
| Arcosa, Inc. (Construction & Engineering) | | | 60 | | | | 2,625 | |
| Arena Pharmaceuticals, Inc.* (Biotechnology) | | | 72 | | | | 3,290 | |
| Ares Management Corp. (Capital Markets) | | | 85 | | | | 3,064 | |
| Argan, Inc. (Construction & Engineering) | | | 25 | | | | 1,053 | |
| Argo Group International Holdings, Ltd. (Insurance) | | | 49 | | | | 3,214 | |
| Armada Hoffler Properties, Inc. (Equity Real Estate Investment Trusts) | | | 72 | | | | 1,320 | |
| ARMOUR Residential REIT, Inc. (Mortgage Real Estate Investment Trusts) | | | 84 | | | | 1,618 | |
| Arrow Financial Corp. (Banks) | | | 12 | | | | 421 | |
| Arrowhead Pharmaceuticals, Inc.* (Biotechnology) | | | 122 | | | | 5,113 | |
| Artisan Partners Asset Management, Inc. (Capital Markets) | | | 73 | | | | 2,438 | |
| Arvinas, Inc.* (Pharmaceuticals) | | | 24 | | | | 1,163 | |
| Asbury Automotive Group, Inc.* (Specialty Retail) | | | 25 | | | | 2,411 | |
| ASGN, Inc.* (Professional Services) | | | 72 | | | | 4,874 | |
| Astec Industries, Inc. (Machinery) | | | 37 | | | | 1,526 | |
| Astronics Corp.* (Aerospace & Defense) | | | 36 | | | | 907 | |
| Atara Biotherapeutics, Inc.* (Biotechnology) | | | 59 | | | | 781 | |
| Athenex, Inc.* (Biotechnology) | | | 84 | | | | 1,125 | |
| Atkore International Group, Inc.* (Electrical Equipment) | | | 60 | | | | 2,382 | |
| Atlantic Union Bankshares (Banks) | | | 109 | | | | 3,672 | |
| Atlas Air Worldwide Holdings, Inc.* (Air Freight & Logistics) | | | 36 | | | | 805 | |
| ATN International, Inc. (Diversified Telecommunication Services) | | | 12 | | | | 694 | |
| AtriCure, Inc.* (Health Care Equipment & Supplies) | | | 49 | | | | 1,906 | |
| Avanos Medical, Inc.* (Health Care Equipment & Supplies) | | | 60 | | | | 1,652 | |
| Avaya Holdings Corp.* - Class C (Software) | | | 143 | | | | 1,826 | |
| Avis Budget Group, Inc.* (Road & Rail) | | | 85 | | | | 2,788 | |
| Avista Corp. (Multi-Utilities) | | | 85 | | | | 4,322 | |
| AVX Corp. (Electronic Equipment, Instruments & Components) | | | 60 | | | | 1,216 | |
| Axcelis Technologies, Inc.* (Semiconductors & Semiconductor Equipment) | | | 48 | | | | 1,159 | |
| AxoGen, Inc.* (Health Care Equipment & Supplies) | | | 47 | | | | 581 | |
| Axon Enterprise, Inc.* (Aerospace & Defense) | | | 85 | | | | 6,530 | |
| Axonics Modulation Technologies, Inc.* (Health Care Equipment & Supplies) | | | 25 | | | | 726 | |
| Axos Financial, Inc.* - Class I (Thrifts & Mortgage Finance) | | | 73 | | | | 2,056 | |
| Axsome Therapeutics, Inc.* (Pharmaceuticals) | | | 37 | | | | 3,212 | |
| AZZ, Inc. (Electrical Equipment) | | | 37 | | | | 1,527 | |
| B&G Foods, Inc.(a) - Class A (Food Products) | | | 84 | | | | 1,349 | |
| Badger Meter, Inc. (Electronic Equipment, Instruments & Components) | | | 37 | | | | 2,185 | |
| Balchem Corp. (Chemicals) | | | 49 | | | | 5,292 | |
| Banc of California, Inc. (Banks) | | | 59 | | | | 942 | |
| Bancfirst Corp. (Banks) | | | 25 | | | | 1,445 | |
| Banco Latinoamericano de Comercio Exterior S.A. - Class E (Diversified Financial Services) | | | 37 | | | | 746 | |
| BancorpSouth Bank (Banks) | | | 134 | | | | 3,828 | |
| Bandwidth, Inc.* (Diversified Telecommunication Services) | | | 25 | | | | 1,774 | |
| Bank of Marin BanCorp (Banks) | | | 12 | | | | 529 | |
| Bank of Nt Butterfield & Son, Ltd. (The) (Banks) | | | 73 | | | | 2,425 | |
| Banner Corp. (Banks) | | | 49 | | | | 2,526 | |
| Barnes Group, Inc. (Machinery) | | | 60 | | | | 3,790 | |
| Barrett Business Services, Inc. (Professional Services) | | | 12 | | | | 994 | |
| Beacon Roofing Supply, Inc.* (Trading Companies & Distributors) | | | 97 | | | | 3,212 | |
| Bed Bath & Beyond, Inc.(a) (Specialty Retail) | | | 169 | | | | 2,408 | |
| Belden, Inc. (Electronic Equipment, Instruments & Components) | | | 49 | | | | 2,414 | |
| Benchmark Electronics, Inc. (Electronic Equipment, Instruments & Components) | | | 47 | | | | 1,447 | |
| Benefitfocus, Inc.* (Software) | | | 36 | | | | 666 | |
| Berkshire Hills Bancorp, Inc. (Banks) | | | 61 | | | | 1,717 | |
| Berry Petroleum Corp. (Oil, Gas & Consumable Fuels) | | | 82 | | | | 562 | |
| Big Lots, Inc. (Multiline Retail) | | | 48 | | | | 1,299 | |
| Biohaven Pharmaceutical Holding Co., Ltd.* (Biotechnology) | | | 49 | | | | 2,376 | |
| BioTelemetry, Inc.* (Health Care Providers & Services) | | | 49 | | | | 2,397 | |
| BJ's Restaurants, Inc. (Hotels, Restaurants & Leisure) | | | 25 | | | | 995 | |
| BJ's Wholesale Club Holdings, Inc.* (Food & Staples Retailing) | | | 158 | | | | 3,242 | |
| Black Hills Corp. (Multi-Utilities) | | | 85 | | | | 7,058 | |
| Blackbaud, Inc. (Software) | | | 60 | | | | 4,700 | |
| Blackline, Inc.* (Software) | | | 60 | | | | 3,670 | |
| Blackstone Mortgage Trust, Inc. - Class A (Mortgage Real Estate Investment Trusts) | | | 170 | | | | 6,493 | |
Small-Cap ProFund:: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
| Common Stocks, continued |
| | | Shares | | | Value | |
| Bloom Energy Corp.* (Electrical Equipment) | | | 70 | | | $ | 552 | |
| Bloomin' Brands, Inc. (Hotels, Restaurants & Leisure) | | | 120 | | | | 2,492 | |
| Blucora, Inc.* (Capital Markets) | | | 61 | | | | 1,376 | |
| Blueprint Medicines Corp.* (Biotechnology) | | | 60 | | | | 3,807 | |
| BMC Stock Holdings, Inc.* (Trading Companies & Distributors) | | | 85 | | | | 2,481 | |
| Boingo Wireless, Inc.* (Wireless Telecommunication Services) | | | 58 | | | | 652 | |
| Boise Cascade Co. (Paper & Forest Products) | | | 47 | | | | 1,701 | |
| Boot Barn Holdings, Inc.* (Specialty Retail) | | | 37 | | | | 1,553 | |
| Boston Private Financial Holdings, Inc. (Banks) | | | 107 | | | | 1,220 | |
| Bottomline Technologies, Inc.* (Software) | | | 60 | | | | 3,216 | |
| Box, Inc.* - Class A (Software) | | | 193 | | | | 2,901 | |
| Boyd Gaming Corp. (Hotels, Restaurants & Leisure) | | | 109 | | | | 3,254 | |
| Brady Corp. - Class A (Commercial Services & Supplies) | | | 60 | | | | 3,322 | |
| Bridge Bancorp, Inc. (Banks) | | | 24 | | | | 728 | |
| Brightsphere Investment Group, Inc. (Capital Markets) | | | 95 | | | | 875 | |
| Brightview Holdings, Inc.* (Commercial Services & Supplies) | | | 36 | | | | 569 | |
| Brinker International, Inc. (Hotels, Restaurants & Leisure) | | | 49 | | | | 2,092 | |
| Brookdale Senior Living, Inc.* (Health Care Providers & Services) | | | 252 | | | | 1,661 | |
| Brookline Bancorp, Inc. (Banks) | | | 109 | | | | 1,657 | |
| Brooks Automation, Inc. (Semiconductors & Semiconductor Equipment) | | | 98 | | | | 3,732 | |
| Bryn Mawr Bank Corp. (Banks) | | | 25 | | | | 938 | |
| Builders FirstSource, Inc.* (Building Products) | | | 156 | | | | 3,868 | |
| Byline Bancorp, Inc. (Banks) | | | 36 | | | | 695 | |
| Cabot Microelectronics Corp. (Semiconductors & Semiconductor Equipment) | | | 37 | | | | 5,384 | |
| Cactus, Inc. - Class A (Energy Equipment & Services) | | | 61 | | | | 1,758 | |
| Cadence Bancorp. (Banks) | | | 169 | | | | 2,641 | |
| CAI International, Inc.* (Trading Companies & Distributors) | | | 24 | | | | 653 | |
| Calavo Growers, Inc. (Food Products) | | | 25 | | | | 1,915 | |
| Caleres, Inc. (Specialty Retail) | | | 60 | | | | 1,053 | |
| California Resources Corp.* (Oil, Gas & Consumable Fuels) | | | 58 | | | | 426 | |
| California Water Service Group (Water Utilities) | | | 60 | | | | 3,154 | |
| Callaway Golf Co. (Leisure Products) | | | 121 | | | | 2,591 | |
| Callon Petroleum Co.* (Oil, Gas & Consumable Fuels) | | | 313 | | | | 939 | |
| Cal-Maine Foods, Inc. (Food Products) | | | 49 | | | | 1,749 | |
| Camden National Corp. (Banks) | | | 25 | | | | 1,182 | |
| Cannae Holdings, Inc.* (Diversified Financial Services) | | | 97 | | | | 3,944 | |
| Capitol Federal Financial, Inc. (Thrifts & Mortgage Finance) | | | 181 | | | | 2,386 | |
| Capstead Mortgage Corp. (Mortgage Real Estate Investment Trusts) | | | 107 | | | | 880 | |
| Cara Therapeutics, Inc.* (Biotechnology) | | | 47 | | | | 757 | |
| Cardiovascular Systems, Inc.* (Health Care Equipment & Supplies) | | | 49 | | | | 2,224 | |
| Cardtronics PLC* - Class A (IT Services) | | | 47 | | | | 2,115 | |
| CareDx, Inc.* (Biotechnology) | | | 62 | | | | 1,498 | |
| CareTrust REIT, Inc. (Equity Real Estate Investment Trusts) | | | 133 | | | | 2,950 | |
| Cargurus, Inc.* (Interactive Media & Services) | | | 98 | | | | 3,494 | |
| Carolina Financial Corp. (Banks) | | | 25 | | | | 959 | |
| Carpenter Technology Corp. (Metals & Mining) | | | 60 | | | | 2,384 | |
| Cars.com, Inc.* (Interactive Media & Services) | | | 96 | | | | 1,120 | |
| Carter Bank & Trust* (Banks) | | | 37 | | | | 732 | |
| Casella Waste Systems, Inc.* - Class A (Commercial Services & Supplies) | | | 62 | | | | 3,174 | |
| Cass Information Systems, Inc. (IT Services) | | | 25 | | | | 1,351 | |
| CatchMark Timber Trust, Inc. - Class A (Equity Real Estate Investment Trusts) | | | 58 | | | | 595 | |
| Cathay General Bancorp (Banks) | | | 109 | | | | 3,931 | |
| Cavco Industries, Inc.* (Household Durables) | | | 12 | | | | 2,688 | |
| CBIZ, Inc.* (Professional Services) | | | 73 | | | | 1,971 | |
| CBTX, Inc. (Banks) | | | 24 | | | | 709 | |
| CenterState Bank Corp. (Banks) | | | 168 | | | | 3,790 | |
| Central Garden & Pet Co.* - Class A (Household Products) | | | 61 | | | | 1,828 | |
| Central Pacific Financial Corp. (Banks) | | | 36 | | | | 998 | |
| Century Communities, Inc.* (Household Durables) | | | 36 | | | | 1,068 | |
| Cerus Corp.* (Health Care Equipment & Supplies) | | | 179 | | | | 718 | |
| CEVA, Inc.* (Semiconductors & Semiconductor Equipment) | | | 24 | | | | 656 | |
| Chart Industries, Inc.* (Machinery) | | | 49 | | | | 3,135 | |
| Chase Corp. (Chemicals) | | | 12 | | | | 1,104 | |
| Chatham Lodging Trust (Equity Real Estate Investment Trusts) | | | 60 | | | | 981 | |
| Chefs' Warehouse, Inc.* (Food & Staples Retailing) | | | 37 | | | | 1,347 | |
| Chegg, Inc.* (Diversified Consumer Services) | | | 158 | | | | 6,513 | |
| Chesapeake Utilities Corp. (Gas Utilities) | | | 25 | | | | 2,405 | |
| Churchill Downs, Inc. (Hotels, Restaurants & Leisure) | | | 49 | | | | 7,075 | |
| Cimpress PLC* (Commercial Services & Supplies) | | | 25 | | | | 2,991 | |
| CIRCOR International, Inc.* (Machinery) | | | 25 | | | | 1,038 | |
| Cirrus Logic, Inc.* (Semiconductors & Semiconductor Equipment) | | | 85 | | | | 6,528 | |
| City Holding Co. (Banks) | | | 25 | | | | 1,892 | |
| City Office REIT, Inc. (Equity Real Estate Investment Trusts) | | | 47 | | | | 635 | |
| Clearway Energy, Inc. - Class A (Independent Power and Renewable Electricity Producers) | | | 47 | | | | 972 | |
Small-Cap ProFund:: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
| Common Stocks, continued |
| | | Shares | | | Value | |
| Clearway Energy, Inc. - Class C (Independent Power and Renewable Electricity Producers) | | | 96 | | | $ | 2,032 | |
| Cleveland-Cliffs, Inc.(a) (Metals & Mining) | | | 385 | | | | 2,703 | |
| Cloudera, Inc.* (Software) | | | 313 | | | | 3,221 | |
| Clovis Oncology, Inc.* (Biotechnology) | | | 58 | | | | 481 | |
| CNO Financial Group, Inc. (Insurance) | | | 218 | | | | 3,835 | |
| CNX Resources Corp.* (Oil, Gas & Consumable Fuels) | | | 264 | | | | 1,909 | |
| Coca-Cola Consolidated, Inc. (Beverages) | | | 12 | | | | 3,250 | |
| Codexis, Inc.* (Life Sciences Tools & Services) | | | 71 | | | | 1,113 | |
| Coeur Mining, Inc.* (Metals & Mining) | | | 276 | | | | 1,664 | |
| Cogent Communications Holdings, Inc. (Diversified Telecommunication Services) | | | 60 | | | | 4,256 | |
| Cohen & Steers, Inc. (Capital Markets) | | | 37 | | | | 2,737 | |
| Coherus Biosciences, Inc.* (Biotechnology) | | | 84 | | | | 1,515 | |
| Cohu, Inc. (Semiconductors & Semiconductor Equipment) | | | 59 | | | | 1,320 | |
| Collegium Pharmaceutical, Inc.* (Pharmaceuticals) | | | 48 | | | | 966 | |
| Colony Credit Real Estate, Inc. (Mortgage Real Estate Investment Trusts) | | | 107 | | | | 1,332 | |
| Columbia Banking System, Inc. (Banks) | | | 98 | | | | 3,793 | |
| Columbia Financial, Inc.* (Thrifts & Mortgage Finance) | | | 71 | | | | 1,191 | |
| Columbus McKinnon Corp. (Machinery) | | | 37 | | | | 1,295 | |
| Comfort Systems USA, Inc. (Construction & Engineering) | | | 49 | | | | 2,274 | |
| Commercial Metals Co. (Metals & Mining) | | | 157 | | | | 3,225 | |
| Community Bank System, Inc. (Banks) | | | 72 | | | | 4,771 | |
| Community Healthcare Trust, Inc. (Equity Real Estate Investment Trusts) | | | 25 | | | | 1,179 | |
| Community Trust Bancorp, Inc. (Banks) | | | 25 | | | | 1,094 | |
| CommVault Systems, Inc.* (Software) | | | 49 | �� | | | 2,206 | |
| Compass Minerals International, Inc. (Metals & Mining) | | | 49 | | | | 2,837 | |
| Comtech Telecommunications Corp. (Communications Equipment) | | | 37 | | | | 1,070 | |
| Conduent, Inc.* (IT Services) | | | 227 | | | | 972 | |
| CONMED Corp. (Health Care Equipment & Supplies) | | | 37 | | | | 3,762 | |
| ConnectOne Bancorp, Inc. (Banks) | | | 48 | | | | 1,133 | |
| CONSOL Energy, Inc.* (Oil, Gas & Consumable Fuels) | | | 35 | | | | 285 | |
| Contura Energy, Inc.* (Oil, Gas & Consumable Fuels) | | | 22 | | | | 127 | |
| Cooper Tire & Rubber Co. (Auto Components) | | | 73 | | | | 1,934 | |
| Cooper-Standard Holding, Inc.* (Auto Components) | | | 25 | | | | 663 | |
| Corcept Therapeutics, Inc.* (Pharmaceuticals) | | | 132 | | | | 1,672 | |
| Corecivic, Inc. (Equity Real Estate Investment Trusts) | | | 157 | | | | 2,504 | |
| Core-Mark Holding Co., Inc. (Distributors) | | | 61 | | | | 1,430 | |
| CorEnergy Infrastructure Trust, Inc. (Equity Real Estate Investment Trusts) | | | 12 | | | | 547 | |
| CorePoint Lodging, Inc. (Equity Real Estate Investment Trusts) | | | 58 | | | | 531 | |
| Cornerstone OnDemand, Inc.* (Software) | | | 72 | | | | 4,234 | |
| CorVel Corp.* (Health Care Providers & Services) | | | 12 | | | | 1,099 | |
| Covanta Holding Corp. (Commercial Services & Supplies) | | | 157 | | | | 2,352 | |
| Cowen, Inc.* - Class A (Capital Markets) | | | 36 | | | | 579 | |
| Cracker Barrel Old Country Store, Inc. (Hotels, Restaurants & Leisure) | | | 25 | | | | 3,823 | |
| Crocs, Inc.* (Textiles, Apparel & Luxury Goods) | | | 85 | | | | 3,222 | |
| CryoLife, Inc.* (Health Care Equipment & Supplies) | | | 48 | | | | 1,428 | |
| CryoPort, Inc.* (Health Care Equipment & Supplies) | | | 36 | | | | 645 | |
| CSG Systems International, Inc. (IT Services) | | | 49 | | | | 2,441 | |
| CSW Industrials, Inc. (Building Products) | | | 25 | | | | 1,897 | |
| CTS Corp. (Electronic Equipment, Instruments & Components) | | | 48 | | | | 1,407 | |
| Cubic Corp. (Aerospace & Defense) | | | 49 | | | | 3,199 | |
| Cushman & Wakefield PLC* (Real Estate Management & Development) | | | 132 | | | | 2,537 | |
| Customers Bancorp, Inc.* (Banks) | | | 37 | | | | 791 | |
| CVB Financial Corp. (Banks) | | | 182 | | | | 3,780 | |
| CVR Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 37 | | | | 1,281 | |
| Cymabay Therapeutics, Inc.* (Pharmaceuticals) | | | 95 | | | | 146 | |
| Cytokinetics, Inc.* (Biotechnology) | | | 70 | | | | 861 | |
| Cytomx Therapeutics, Inc.* (Biotechnology) | | | 58 | | | | 430 | |
| Dana, Inc. (Auto Components) | | | 193 | | | | 2,974 | |
| Darling Ingredients, Inc.* (Food Products) | | | 218 | | | | 5,914 | |
| Dave & Buster's Entertainment, Inc. (Hotels, Restaurants & Leisure) | | | 49 | | | | 2,164 | |
| Deckers Outdoor Corp.* (Textiles, Apparel & Luxury Goods) | | | 37 | | | | 7,065 | |
| Delek US Holdings, Inc. (Oil, Gas & Consumable Fuels) | | | 109 | | | | 2,993 | |
| Deluxe Corp. (Commercial Services & Supplies) | | | 60 | | | | 2,892 | |
| Denali Therapeutics, Inc.* (Biotechnology) | | | 60 | | | | 1,390 | |
| Denbury Resources, Inc.* (Oil, Gas & Consumable Fuels) | | | 614 | | | | 605 | |
| Denny's Corp.* (Hotels, Restaurants & Leisure) | | | 85 | | | | 1,740 | |
| Dermira, Inc.* (Pharmaceuticals) | | | 58 | | | | 1,099 | |
| Designer Brands, Inc. (Specialty Retail) | | | 84 | | | | 1,196 | |
| DHT Holdings, Inc. (Oil, Gas & Consumable Fuels) | | | 119 | | | | 670 | |
| Diamond Offshore Drilling, Inc.*(a) (Energy Equipment & Services) | | | 82 | | | | 380 | |
| DiamondRock Hospitality Co. (Equity Real Estate Investment Trusts) | | | 277 | | | | 2,679 | |
| Dicerna Pharmaceuticals, Inc.* (Biotechnology) | | | 72 | | | | 1,422 | |
| Diebold Nixdorf, Inc.* (Technology Hardware, Storage & Peripherals) | | | 106 | | | | 1,220 | |
| Digimarc Corp.* (Software) | | | 12 | | | | 376 | |
| Dillard's, Inc. - Class A (Multiline Retail) | | | 12 | | | | 729 | |
| Dime Community Bancshares, Inc. (Thrifts & Mortgage Finance) | | | 48 | | | | 932 | |
Small-Cap ProFund:: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
| Common Stocks, continued |
| | | Shares | | | Value | |
| Dine Brands Global, Inc. (Hotels, Restaurants & Leisure) | | | 25 | | | $ | 2,131 | |
| Diodes, Inc.* (Semiconductors & Semiconductor Equipment) | | | 60 | | | | 3,098 | |
| Diversified Healthcare Trust (Equity Real Estate Investment Trusts) | | | 324 | | | | 2,501 | |
| DMC Global, Inc. (Machinery) | | | 25 | | | | 1,046 | |
| Domo, Inc.* (Software) | | | 24 | | | | 581 | |
| Dorman Products, Inc.* (Auto Components) | | | 37 | | | | 2,583 | |
| Douglas Dynamics, Inc. (Machinery) | | | 37 | | | | 1,940 | |
| Dril-Quip, Inc.* (Energy Equipment & Services) | | | 49 | | | | 2,004 | |
| Ducommun, Inc.* (Aerospace & Defense) | | | 12 | | | | 491 | |
| DXP Enterprises, Inc.* (Trading Companies & Distributors) | | | 24 | | | | 832 | |
| Dycom Industries, Inc.* (Construction & Engineering) | | | 37 | | | | 1,496 | |
| Eagle Bancorp, Inc. (Banks) | | | 49 | | | | 2,141 | |
| Eagle Pharmaceuticals, Inc.* (Biotechnology) | | | 12 | | | | 646 | |
| Easterly Government Properties, Inc. (Equity Real Estate Investment Trusts) | | | 97 | | | | 2,348 | |
| EastGroup Properties, Inc. (Equity Real Estate Investment Trusts) | | | 49 | | | | 6,667 | |
| Ebix, Inc. (Software) | | | 37 | | | | 1,274 | |
| Echo Global Logistics, Inc.* (Air Freight & Logistics) | | | 36 | | | | 698 | |
| Edgewell Personal Care Co.* (Personal Products) | | | 73 | | | | 1,884 | |
| Editas Medicine, Inc.* (Biotechnology) | | | 73 | | | | 1,929 | |
| eHealth, Inc.* (Insurance) | | | 37 | | | | 3,891 | |
| El Paso Electric Co. (Electric Utilities) | | | 60 | | | | 4,085 | |
| Eldorado Resorts, Inc.* (Hotels, Restaurants & Leisure) | | | 85 | | | | 5,081 | |
| Ellington Financial, Inc. (Mortgage Real Estate Investment Trusts) | | | 36 | | | | 658 | |
| EMCOR Group, Inc. (Construction & Engineering) | | | 72 | | | | 5,916 | |
| Emergent BioSolutions, Inc.* (Biotechnology) | | | 60 | | | | 3,305 | |
| Employers Holdings, Inc. (Insurance) | | | 49 | | | | 2,090 | |
| Enanta Pharmaceuticals, Inc.* (Biotechnology) | | | 25 | | | | 1,289 | |
| Encore Capital Group, Inc.* (Consumer Finance) | | | 37 | | | | 1,256 | |
| Encore Wire Corp. (Electrical Equipment) | | | 25 | | | | 1,358 | |
| Endo International PLC* (Pharmaceuticals) | | | 300 | | | | 1,701 | |
| Enerpac Tool Group Corp. (Machinery) | | | 73 | | | | 1,687 | |
| EnerSys (Electrical Equipment) | | | 60 | | | | 4,318 | |
| Ennis, Inc. (Commercial Services & Supplies) | | | 36 | | | | 751 | |
| Enova International, Inc.* (Consumer Finance) | | | 48 | | | | 1,203 | |
| Enphase Energy, Inc.* (Electrical Equipment) | | | 121 | | | | 3,814 | |
| EnPro Industries, Inc. (Machinery) | | | 25 | | | | 1,461 | |
| Enstar Group, Ltd.* (Insurance) | | | 12 | | | | 2,343 | |
| Entercom Communications Corp. - Class A (Media) | | | 167 | | | | 663 | |
| Enterprise Financial Services Corp. (Banks) | | | 37 | | | | 1,610 | |
| Envestnet, Inc.* (Software) | | | 60 | | | | 4,732 | |
| Epizyme, Inc.* (Biotechnology) | | | 109 | | | | 2,281 | |
| ePlus, Inc.* (Electronic Equipment, Instruments & Components) | | | 12 | | | | 957 | |
| ESCO Technologies, Inc. (Machinery) | | | 37 | | | | 3,551 | |
| Esperion Therapeutics, Inc.* (Biotechnology) | | | 37 | | | | 2,001 | |
| Essent Group, Ltd. (Thrifts & Mortgage Finance) | | | 134 | | | | 6,647 | |
| Essential Properties Realty Trust, Inc. (Real Estate Management & Development) | | | 98 | | | | 2,706 | |
| Ethan Allen Interiors, Inc. (Household Durables) | | | 36 | | | | 581 | |
| Eventbrite, Inc.* (Interactive Media & Services) | | | 48 | | | | 1,015 | |
| Everbridge, Inc.* (Software) | | | 49 | | | | 4,441 | |
| Everi Holdings, Inc.* (IT Services) | | | 96 | | | | 1,200 | |
| EVERTEC, Inc. (IT Services) | | | 85 | | | | 2,853 | |
| Evo Payments, Inc.* (IT Services) | | | 48 | | | | 1,330 | |
| Evolent Health, Inc.* (Health Care Technology) | | | 95 | | | | 958 | |
| Evoqua Water Technologies Corp.* (Machinery) | | | 96 | | | | 1,917 | |
| ExlService Holdings, Inc.* (IT Services) | | | 49 | | | | 3,582 | |
| Exponent, Inc. (Professional Services) | | | 72 | | | | 5,239 | |
| Exterran Corp.* (Energy Equipment & Services) | | | 46 | | | | 248 | |
| Extraction Oil & Gas, Inc.*(a) (Oil, Gas & Consumable Fuels) | | | 130 | | | | 185 | |
| Extreme Networks, Inc.* (Communications Equipment) | | | 155 | | | | 915 | |
| EZCORP, Inc.* - Class A (Consumer Finance) | | | 70 | | | | 435 | |
| Fabrinet* (Electronic Equipment, Instruments & Components) | | | 49 | | | | 3,089 | |
| FARO Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | | 25 | | | | 1,292 | |
| Fate Therapeutics, Inc.* (Biotechnology) | | | 72 | | | | 1,826 | |
| FB Financial Corp. (Banks) | | | 25 | | | | 891 | |
| FBL Financial Group, Inc. - Class A (Insurance) | | | 12 | | | | 645 | |
| Federal Agricultural Mortgage Corp. (Thrifts & Mortgage Finance) | | | 12 | | | | 916 | |
| Federal Signal Corp. (Machinery) | | | 85 | | | | 2,734 | |
| Federated Hermes, Inc. - Class B (Capital Markets) | | | 134 | | | | 4,854 | |
| Ferro Corp.* (Chemicals) | | | 107 | | | | 1,464 | |
| FGL Holdings (Diversified Financial Services) | | | 192 | | | | 1,853 | |
| FibroGen, Inc.* (Biotechnology) | | | 109 | | | | 4,562 | |
| Financial Institutions, Inc. (Banks) | | | 24 | | | | 739 | |
| First BanCorp. (Banks) | | | 290 | | | | 2,688 | |
| First Bancorp/Southern Pines NC (Banks) | | | 37 | | | | 1,313 | |
| First Bancshares, Inc. (Banks) | | | 24 | | | | 826 | |
| First Busey Corp. (Banks) | | | 73 | | | | 1,862 | |
| First Commonwealth Financial Corp. (Banks) | | | 132 | | | | 1,785 | |
| First Community Bancshares, Inc. (Banks) | | | 25 | | | | 733 | |
| First Defiance Financial Corp. (Thrifts & Mortgage Finance) | | | 48 | | | | 1,411 | |
Small-Cap ProFund:: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
| Common Stocks, continued |
| | | Shares | | | Value | |
| First Financial Bancorp (Banks) | | | 134 | | | $ | 3,221 | |
| First Financial Bankshares, Inc. (Banks) | | | 181 | | | | 6,067 | |
| First Financial Corp. (Banks) | | | 12 | | | | 501 | |
| First Foundation, Inc. (Banks) | | | 47 | | | | 776 | |
| First Industrial Realty Trust, Inc. (Equity Real Estate Investment Trusts) | | | 170 | | | | 7,258 | |
| First Interstate BancSystem - Class A (Banks) | | | 49 | | | | 1,887 | |
| First Merchants Corp. (Banks) | | | 85 | | | | 3,379 | |
| First Mid Bancshares, Inc. (Banks) | | | 24 | | | | 786 | |
| First Midwest Bancorp, Inc. (Banks) | | | 145 | | | | 2,891 | |
| First of Long Island Corp. (Banks) | | | 36 | | | | 794 | |
| FirstCash, Inc. (Consumer Finance) | | | 60 | | | | 5,218 | |
| Fitbit, Inc.* - Class A (Electronic Equipment, Instruments & Components) | | | 300 | | | | 1,956 | |
| Five9, Inc.* (Software) | | | 85 | | | | 6,096 | |
| Flagstar Bancorp, Inc. (Thrifts & Mortgage Finance) | | | 37 | | | | 1,304 | |
| Fluidigm Corp.* (Life Sciences Tools & Services) | | | 95 | | | | 365 | |
| Flushing Financial Corp. (Banks) | | | 36 | | | | 715 | |
| Focus Financial Partners, Inc.* (Capital Markets) | | | 36 | | | | 1,017 | |
| ForeScout Technologies, Inc.* (Software) | | | 60 | | | | 1,711 | |
| FormFactor, Inc.* (Semiconductors & Semiconductor Equipment) | | | 97 | | | | 2,455 | |
| Forrester Research, Inc.* (Professional Services) | | | 12 | | | | 496 | |
| Forward Air Corp. (Air Freight & Logistics) | | | 37 | | | | 2,422 | |
| Fossil Group, Inc.* (Textiles, Apparel & Luxury Goods) | | | 58 | | | | 390 | |
| Four Corners Property Trust, Inc. (Equity Real Estate Investment Trusts) | | | 97 | | | | 2,938 | |
| Fox Factory Holding Corp.* (Auto Components) | | | 49 | | | | 3,225 | |
| Franklin Electric Co., Inc. (Machinery) | | | 60 | | | | 3,461 | |
| Franklin Street Properties Corp. (Equity Real Estate Investment Trusts) | | | 142 | | | | 1,079 | |
| Frank's International N.V.* (Energy Equipment & Services) | | | 142 | | | | 497 | |
| Fresh Del Monte Produce, Inc. (Food Products) | | | 37 | | | | 1,161 | |
| Freshpet, Inc.* (Food Products) | | | 37 | | | | 2,327 | |
| Front Yard Residential Corp. (Equity Real Estate Investment Trusts) | | | 71 | | | | 762 | |
| FTI Consulting, Inc.* (Professional Services) | | | 49 | | | | 5,882 | |
| Fulton Financial Corp. (Banks) | | | 218 | | | | 3,590 | |
| Funko, Inc.* (Distributors) | | | 23 | | | | 346 | |
| G1 Therapeutics, Inc.* (Biotechnology) | | | 49 | | | | 949 | |
| GameStop Corp.(a) - Class A (Specialty Retail) | | | 131 | | | | 503 | |
| Gannett Co., Inc. (Media) | | | 166 | | | | 1,014 | |
| GasLog, Ltd. (Oil, Gas & Consumable Fuels) | | | 58 | | | | 376 | |
| GATX Corp. (Trading Companies & Distributors) | | | 49 | | | | 3,730 | |
| GCP Applied Technologies, Inc.* (Chemicals) | | | 73 | | | | 1,622 | |
| Generac Holdings, Inc.* (Electrical Equipment) | | | 85 | | | | 8,804 | |
| Genesco, Inc.* (Specialty Retail) | | | 25 | | | | 983 | |
| Gentherm, Inc.* (Auto Components) | | | 49 | | | | 2,259 | |
| Genworth Financial, Inc.* - Class A (Insurance) | | | 688 | | | | 2,821 | |
| German American BanCorp, Inc. (Banks) | | | 37 | | | | 1,265 | |
| Getty Realty Corp. (Equity Real Estate Investment Trusts) | | | 48 | | | | 1,513 | |
| Gibraltar Industries, Inc.* (Building Products) | | | 49 | | | | 2,671 | |
| G-III Apparel Group, Ltd.* (Textiles, Apparel & Luxury Goods) | | | 61 | | | | 1,660 | |
| Glacier Bancorp, Inc. (Banks) | | | 109 | | | | 4,618 | |
| Gladstone Commercial Corp. (Equity Real Estate Investment Trusts) | | | 37 | | | | 789 | |
| Glaukos Corp.* (Health Care Equipment & Supplies) | | | 49 | | | | 2,756 | |
| Global Blood Therapeutics, Inc.* (Biotechnology) | | | 72 | | | | 4,699 | |
| Global Net Lease, Inc. (Equity Real Estate Investment Trusts) | | | 109 | | | | 2,260 | |
| Globus Medical, Inc.* - Class A (Health Care Equipment & Supplies) | | | 109 | | | | 5,699 | |
| Glu Mobile, Inc.* (Entertainment) | | | 155 | | | | 915 | |
| GMS, Inc.* (Trading Companies & Distributors) | | | 48 | | | | 1,283 | |
| Golar LNG, Ltd. (Oil, Gas & Consumable Fuels) | | | 132 | | | | 1,270 | |
| Goosehead Insurance, Inc. (Insurance) | | | 12 | | | | 626 | |
| GoPro, Inc.* - Class A (Household Durables) | | | 167 | | | | 658 | |
| Gorman-Rupp Co. (Machinery) | | | 24 | | | | 886 | |
| Gossamer Bio, Inc.* (Biotechnology) | | | 24 | | | | 319 | |
| Granite Construction, Inc. (Construction & Engineering) | | | 61 | | | | 1,655 | |
| Granite Point Mortgage Trust (Mortgage Real Estate Investment Trusts) | | | 72 | | | | 1,317 | |
| Gray Television, Inc.* (Media) | | | 120 | | | | 2,434 | |
| Great Lakes Dredge & Dock Corp.* (Construction & Engineering) | | | 83 | | | | 869 | |
| Great Southern BanCorp, Inc. (Banks) | | | 12 | | | | 683 | |
| Great Western Bancorp, Inc. (Banks) | | | 73 | | | | 2,157 | |
| Green Dot Corp.* - Class A (Consumer Finance) | | | 73 | | | | 2,196 | |
| Greif, Inc. - Class A (Containers & Packaging) | | | 37 | | | | 1,496 | |
| Griffon Corp. (Building Products) | | | 48 | | | | 998 | |
| Group 1 Automotive, Inc. (Specialty Retail) | | | 25 | | | | 2,519 | |
| Groupon, Inc.* (Internet & Direct Marketing Retail) | | | 616 | | | | 1,774 | |
| GTT Communications, Inc.*(a) (IT Services) | | | 47 | | | | 557 | |
| Guess?, Inc. (Specialty Retail) | | | 72 | | | | 1,533 | |
| Gulfport Energy Corp.* (Oil, Gas & Consumable Fuels) | | | 217 | | | | 336 | |
| H&E Equipment Services, Inc. (Trading Companies & Distributors) | | | 48 | | | | 1,301 | |
| H.B. Fuller Co. (Chemicals) | | | 72 | | | | 3,327 | |
| Haemonetics Corp.* (Health Care Equipment & Supplies) | | | 72 | | | | 7,732 | |
| Halozyme Therapeutics, Inc.* (Biotechnology) | | | 194 | | | | 3,682 | |
Small-Cap ProFund:: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
| Common Stocks, continued |
| | | Shares | | | Value | |
| Hamilton Lane, Inc. (Capital Markets) | | | 25 | | | $ | 1,624 | |
| Hancock Whitney Corp. (Banks) | | | 122 | | | | 4,848 | |
| Hanger, Inc.* (Health Care Providers & Services) | | | 48 | | | | 1,173 | |
| Hanmi Financial Corp. (Banks) | | | 36 | | | | 606 | |
| Hannon Armstrong Sustainable, Inc. - Class I (Mortgage Real Estate Investment Trusts) | | | 85 | | | | 2,898 | |
| Harmonic, Inc.* (Communications Equipment) | | | 119 | | | | 837 | |
| Harsco Corp.* (Machinery) | | | 109 | | | | 1,624 | |
| Hawaiian Holdings, Inc. (Airlines) | | | 61 | | | | 1,701 | |
| Hawkins, Inc. (Chemicals) | | | 12 | | | | 501 | |
| Healthcare Realty Trust, Inc. (Equity Real Estate Investment Trusts) | | | 170 | | | | 6,130 | |
| Healthcare Services Group, Inc. (Commercial Services & Supplies) | | | 97 | | | | 2,483 | |
| HealthEquity, Inc.* (Health Care Providers & Services) | | | 85 | | | | 5,615 | |
| HealthStream, Inc.* (Health Care Technology) | | | 36 | | | | 920 | |
| Heartland Express, Inc. (Road & Rail) | | | 60 | | | | 1,121 | |
| Heartland Financial USA, Inc. (Banks) | | | 49 | | | | 2,397 | |
| Hecla Mining Co. (Metals & Mining) | | | 652 | | | | 1,976 | |
| Heidrick & Struggles International, Inc. (Professional Services) | | | 24 | | | | 682 | |
| Helen of Troy, Ltd.* (Household Durables) | | | 37 | | | | 6,995 | |
| Helios Technologies, Inc. (Machinery) | | | 37 | | | | 1,573 | |
| Helix Energy Solutions Group, Inc.* (Energy Equipment & Services) | | | 192 | | | | 1,601 | |
| Herc Holdings, Inc.* (Trading Companies & Distributors) | | | 37 | | | | 1,484 | |
| Heritage Commerce Corp. (Banks) | | | 58 | | | | 673 | |
| Heritage Financial Corp. (Banks) | | | 48 | | | | 1,237 | |
| Herman Miller, Inc. (Commercial Services & Supplies) | | | 85 | | | | 3,285 | |
| Heron Therapeutics, Inc.* (Biotechnology) | | | 97 | | | | 2,023 | |
| Hersha Hospitality Trust (Equity Real Estate Investment Trusts) | | | 47 | | | | 610 | |
| Hertz Global Holdings, Inc.* (Road & Rail) | | | 132 | | | | 2,080 | |
| Heska Corp.* (Health Care Equipment & Supplies) | | | 12 | | | | 1,202 | |
| Hillenbrand, Inc. (Machinery) | | | 85 | | | | 2,468 | |
| Hilltop Holdings, Inc. (Banks) | | | 97 | | | | 2,196 | |
| HMS Holdings Corp.* (Health Care Technology) | | | 121 | | | | 3,306 | |
| HNI Corp. (Commercial Services & Supplies) | | | 60 | | | | 2,158 | |
| Home BancShares, Inc. (Banks) | | | 205 | | | | 3,920 | |
| HomeStreet, Inc.* (Thrifts & Mortgage Finance) | | | 37 | | | | 1,188 | |
| Homology Medicines, Inc.* (Biotechnology) | | | 36 | | | | 563 | |
| Hope Bancorp, Inc. (Banks) | | | 169 | | | | 2,350 | |
| Horace Mann Educators Corp. (Insurance) | | | 60 | | | | 2,581 | |
| Horizon BanCorp, Inc. (Banks) | | | 47 | | | | 795 | |
| Hostess Brands, Inc.* (Food Products) | | | 132 | | | | 1,771 | |
| Houghton Mifflin Harcourt Co.* (Diversified Consumer Services) | | | 142 | | | | 784 | |
| Houlihan Lokey, Inc. (Capital Markets) | | | 49 | | | | 2,541 | |
| Hub Group, Inc.* - Class A (Air Freight & Logistics) | | | 49 | | | | 2,590 | |
| Hudson, Ltd.* - Class A (Specialty Retail) | | | 47 | | | | 516 | |
| Huron Consulting Group, Inc.* (Professional Services) | | | 37 | | | | 2,398 | |
| Hyster-Yale Materials Handling, Inc. (Machinery) | | | 12 | | | | 648 | |
| IBERIABANK Corp. (Banks) | | | 72 | | | | 5,235 | |
| ICF International, Inc. (Professional Services) | | | 25 | | | | 2,190 | |
| Ichor Holdings, Ltd.* (Semiconductors & Semiconductor Equipment) | | | 24 | | | | 801 | |
| II-VI, Inc.* (Electronic Equipment, Instruments & Components) | | | 87 | | | | 2,928 | |
| IMAX Corp.* (Entertainment) | | | 73 | | | | 1,207 | |
| Immunomedics, Inc.* (Biotechnology) | | | 241 | | | | 4,475 | |
| Impinj, Inc.* (Semiconductors & Semiconductor Equipment) | | | 25 | | | | 805 | |
| Independence Realty Trust, Inc. (Equity Real Estate Investment Trusts) | | | 120 | | | | 1,760 | |
| Independent Bank Corp. (Banks) | | | 37 | | | | 791 | |
| Independent Bank Corp. (Banks) | | | 49 | | | | 3,538 | |
| Independent Bank Group, Inc. (Banks) | | | 49 | | | | 2,622 | |
| Industrial Logistics Properties Trust (Equity Real Estate Investment Trusts) | | | 84 | | | | 1,923 | |
| Infinera Corp.* (Communications Equipment) | | | 240 | | | | 1,769 | |
| Ingevity Corp.* (Chemicals) | | | 60 | | | | 3,913 | |
| Ingles Markets, Inc. (Food & Staples Retailing) | | | 25 | | | | 1,042 | |
| Innophos Holdings, Inc. (Chemicals) | | | 24 | | | | 767 | |
| Innospec, Inc. (Chemicals) | | | 37 | | | | 3,727 | |
| Innovative Industrial Properties, Inc. (Equity Real Estate Investment Trusts) | | | 12 | | | | 1,074 | |
| Innoviva, Inc.* (Pharmaceuticals) | | | 83 | | | | 1,146 | |
| Inogen, Inc.* (Health Care Equipment & Supplies) | | | 25 | | | | 1,107 | |
| Inovalon Holdings, Inc.* (Health Care Technology) | | | 96 | | | | 1,945 | |
| Inphi Corp.* (Semiconductors & Semiconductor Equipment) | | | 60 | | | | 4,558 | |
| Insight Enterprises, Inc.* (Electronic Equipment, Instruments & Components) | | | 49 | | | | 3,228 | |
| Insmed, Inc.* (Biotechnology) | | | 109 | | | | 2,239 | |
| Insperity, Inc. (Professional Services) | | | 49 | | | | 4,281 | |
| Inspire Medical Systems, Inc.* (Health Care Technology) | | | 12 | | | | 898 | |
| Installed Building Products, Inc.* (Household Durables) | | | 37 | | | | 2,743 | |
| Instructure, Inc.* (Software) | | | 49 | | | | 2,393 | |
| Integer Holdings Corp.* (Health Care Equipment & Supplies) | | | 49 | | | | 4,185 | |
| Intellia Therapeutics, Inc.* (Biotechnology) | | | 47 | | | | 560 | |
| Intelsat S.A.* (Diversified Telecommunication Services) | | | 95 | | | | 324 | |
| Inter Parfums, Inc. (Personal Products) | | | 25 | | | | 1,728 | |
| Intercept Pharmaceuticals, Inc.* (Biotechnology) | | | 37 | | | | 3,419 | |
| InterDigital, Inc. (Communications Equipment) | | | 49 | | | | 2,707 | |
Small-Cap ProFund:: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
| Common Stocks, continued |
| | | Shares | | | Value | |
| Interface, Inc. (Commercial Services & Supplies) | | | 84 | | | $ | 1,351 | |
| International Bancshares Corp. (Banks) | | | 72 | | | | 2,837 | |
| International Seaways, Inc.* (Oil, Gas & Consumable Fuels) | | | 36 | | | | 801 | |
| Intersect ENT, Inc.* (Pharmaceuticals) | | | 36 | | | | 930 | |
| INTL. FCStone, Inc.* (Capital Markets) | | | 25 | | | | 1,192 | |
| Intra-Cellular Therapies, Inc.* (Pharmaceuticals) | | | 58 | | | | 1,316 | |
| Intrexon Corp.*(a) (Biotechnology) | | | 95 | | | | 442 | |
| Invesco Mortgage Capital, Inc. (Mortgage Real Estate Investment Trusts) | | | 169 | | | | 2,956 | |
| Investors Bancorp, Inc. (Banks) | | | 313 | | | | 3,783 | |
| Investors Real Estate Trust (Equity Real Estate Investment Trusts) | | | 12 | | | | 884 | |
| Invitae Corp.* (Biotechnology) | | | 121 | | | | 2,257 | |
| Iovance Biotherapeutics, Inc.* (Biotechnology) | | | 156 | | | | 3,391 | |
| Irhythm Technologies, Inc.* (Health Care Equipment & Supplies) | | | 37 | | | | 3,168 | |
| Iridium Communications, Inc.* (Diversified Telecommunication Services) | | | 133 | | | | 3,398 | |
| iRobot Corp.*(a) (Household Durables) | | | 37 | | | | 1,741 | |
| Ironwood Pharmaceuticals, Inc.* (Biotechnology) | | | 204 | | | | 2,464 | |
| iStar, Inc. (Equity Real Estate Investment Trusts) | | | 83 | | | | 1,208 | |
| Itron, Inc.* (Electronic Equipment, Instruments & Components) | | | 49 | | | | 4,006 | |
| J & J Snack Foods Corp. (Food Products) | | | 25 | | | | 4,146 | |
| j2 Global, Inc. (Software) | | | 60 | | | | 5,752 | |
| Jack in the Box, Inc. (Hotels, Restaurants & Leisure) | | | 37 | | | | 3,025 | |
| James River Group Holdings, Ltd. (Insurance) | | | 37 | | | | 1,589 | |
| Jeld-Wen Holding, Inc.* (Building Products) | | | 96 | | | | 2,292 | |
| Jernigan Capital, Inc. (Equity Real Estate Investment Trusts) | | | 24 | | | | 480 | |
| John B. Sanfilippo & Son, Inc. (Food Products) | | | 12 | | | | 1,012 | |
| John Bean Technologies Corp. (Machinery) | | | 37 | | | | 4,181 | |
| K12, Inc.* (Diversified Consumer Services) | | | 48 | | | | 775 | |
| Kadant, Inc. (Machinery) | | | 12 | | | | 1,279 | |
| Kaiser Aluminum Corp. (Metals & Mining) | | | 25 | | | | 2,504 | |
| Kaman Corp. - Class A (Trading Companies & Distributors) | | | 37 | | | | 2,284 | |
| KB Home (Household Durables) | | | 109 | | | | 4,093 | |
| KBR, Inc. (IT Services) | | | 194 | | | | 5,277 | |
| Kearny Financial Corp. (Thrifts & Mortgage Finance) | | | 107 | | | | 1,321 | |
| Kelly Services, Inc. - Class A (Professional Services) | | | 48 | | | | 852 | |
| KEMET Corp. (Electronic Equipment, Instruments & Components) | | | 73 | | | | 1,901 | |
| Kennametal, Inc. (Machinery) | | | 109 | | | | 3,411 | |
| Kennedy-Wilson Holdings, Inc. (Real Estate Management & Development) | | | 169 | | | | 3,643 | |
| Kforce, Inc. (Professional Services) | | | 37 | | | | 1,371 | |
| Kimball International, Inc. - Class B (Commercial Services & Supplies) | | | 48 | | | | 901 | |
| Kinsale Capital Group, Inc. (Insurance) | | | 25 | | | | 2,856 | |
| Kite Realty Group Trust (Equity Real Estate Investment Trusts) | | | 109 | | | | 1,875 | |
| KKR Real Estate Finance Trust, Inc. (Mortgage Real Estate Investment Trusts) | | | 36 | | | | 758 | |
| Knoll, Inc. (Commercial Services & Supplies) | | | 61 | | | | 1,510 | |
| Knowles Corp.* (Electronic Equipment, Instruments & Components) | | | 109 | | | | 2,151 | |
| Kontoor Brands, Inc. (Textiles, Apparel & Luxury Goods) | | | 60 | | | | 2,288 | |
| Koppers Holdings, Inc.* (Chemicals) | | | 24 | | | | 753 | |
| Korn Ferry (Professional Services) | | | 72 | | | | 2,951 | |
| Kraton Corp.* (Chemicals) | | | 48 | | | | 790 | |
| Kratos Defense & Security Solutions, Inc.* (Aerospace & Defense) | | | 121 | | | | 2,219 | |
| Kura Oncology, Inc.* (Biotechnology) | | | 36 | | | | 423 | |
| Ladder Capital Corp. (Mortgage Real Estate Investment Trusts) | | | 145 | | | | 2,661 | |
| Ladenburg Thalmann Financial Services, Inc. (Capital Markets) | | | 155 | | | | 541 | |
| Lakeland Bancorp, Inc. (Banks) | | | 59 | | | | 958 | |
| Lakeland Financial Corp. (Banks) | | | 37 | | | | 1,755 | |
| Lancaster Colony Corp. (Food Products) | | | 25 | | | | 3,866 | |
| Lantheus Holdings, Inc.* (Health Care Equipment & Supplies) | | | 48 | | | | 840 | |
| Laredo Petroleum, Inc.* (Oil, Gas & Consumable Fuels) | | | 240 | | | | 413 | |
| Lattice Semiconductor Corp.* (Semiconductors & Semiconductor Equipment) | | | 169 | | | | 3,143 | |
| Laureate Education, Inc.* - Class A (Diversified Consumer Services) | | | 132 | | | | 2,751 | |
| La-Z-Boy, Inc. (Household Durables) | | | 61 | | | | 1,869 | |
| LCI Industries (Auto Components) | | | 37 | | | | 3,995 | |
| Lemaitre Vascular, Inc. (Health Care Equipment & Supplies) | | | 24 | | | | 864 | |
| LendingClub Corp.* (Consumer Finance) | | | 88 | | | | 1,031 | |
| Lexington Realty Trust (Equity Real Estate Investment Trusts) | | | 313 | | | | 3,465 | |
| LGI Homes, Inc.* (Household Durables) | | | 25 | | | | 1,994 | |
| LHC Group, Inc.* (Health Care Providers & Services) | | | 37 | | | | 5,393 | |
| Liberty Braves Group* - Class C (Entertainment) | | | 48 | | | | 1,400 | |
| Liberty Latin America, Ltd.* - Class A (Media) | | | 60 | | | | 1,001 | |
| Liberty Latin America, Ltd.* - Class C (Media) | | | 157 | | | | 2,645 | |
| Liberty Oilfield Services, Inc. (Energy Equipment & Services) | | | 58 | | | | 492 | |
| Liberty TripAdvisor Holdings, Inc.* - Class A (Interactive Media & Services) | | | 95 | | | | 560 | |
| Ligand Pharmaceuticals, Inc.* - Class B (Biotechnology) | | | 25 | | | | 2,195 | |
| Lindsay Corp. (Machinery) | | | 12 | | | | 1,200 | |
| Lithia Motors, Inc. - Class A (Specialty Retail) | | | 25 | | | | 3,391 | |
| LivaNova PLC* (Health Care Equipment & Supplies) | | | 60 | | | | 4,078 | |
| Live Oak Bancshares, Inc. (Banks) | | | 36 | | | | 629 | |
Small-Cap ProFund:: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
| Common Stocks, continued |
| | | Shares | | | Value | |
| Livent Corp.* (Chemicals) | | | 192 | | | $ | 1,807 | |
| LivePerson, Inc.* (Software) | | | 85 | | | | 3,486 | |
| LiveRamp Holdings, Inc.* (IT Services) | | | 98 | | | | 3,944 | |
| Loral Space & Communications, Inc.* (Media) | | | 12 | | | | 386 | |
| Louisiana-Pacific Corp. (Paper & Forest Products) | | | 169 | | | | 5,185 | |
| LTC Properties, Inc. (Equity Real Estate Investment Trusts) | | | 49 | | | | 2,262 | |
| Lumentum Holdings, Inc.* (Communications Equipment) | | | 109 | | | | 8,258 | |
| Luminex Corp. (Life Sciences Tools & Services) | | | 60 | | | | 1,361 | |
| Luxfer Holdings PLC (Machinery) | | | 36 | | | | 574 | |
| M.D.C. Holdings, Inc. (Household Durables) | | | 72 | | | | 3,034 | |
| M/A-COM Technology Solutions Holdings, Inc.* (Semiconductors & Semiconductor Equipment) | | | 61 | | | | 1,734 | |
| M/I Homes, Inc.* (Household Durables) | | | 37 | | | | 1,642 | |
| Mack-Cali Realty Corp. (Equity Real Estate Investment Trusts) | | | 121 | | | | 2,657 | |
| MacroGenics, Inc.* (Biotechnology) | | | 59 | | | | 546 | |
| Madrigal Pharmaceuticals, Inc.* (Biotechnology) | | | 12 | | | | 996 | |
| Magellan Health, Inc.* (Health Care Providers & Services) | | | 25 | | | | 1,830 | |
| Magnolia Oil & Gas Corp.* (Oil, Gas & Consumable Fuels) | | | 132 | | | | 1,389 | |
| Malibu Boats, Inc.* (Leisure Products) | | | 24 | | | | 1,051 | |
| Mallinckrodt PLC*(a) (Pharmaceuticals) | | | 106 | | | | 487 | |
| ManTech International Corp. - Class A (IT Services) | | | 37 | | | | 2,970 | |
| Marcus & Millichap, Inc.* (Real Estate Management & Development) | | | 37 | | | | 1,310 | |
| Marriott Vacations Worldwide Corp. (Hotels, Restaurants & Leisure) | | | 60 | | | | 7,213 | |
| Marten Transport, Ltd. (Road & Rail) | | | 48 | | | | 996 | |
| Masonite International Corp.* (Building Products) | | | 37 | | | | 2,779 | |
| MasTec, Inc.* (Construction & Engineering) | | | 85 | | | | 4,909 | |
| Matador Resources Co.* (Oil, Gas & Consumable Fuels) | | | 144 | | | | 2,112 | |
| Materion Corp. (Metals & Mining) | | | 25 | | | | 1,358 | |
| Matrix Service Co.* (Energy Equipment & Services) | | | 36 | | | | 724 | |
| Matson, Inc. (Marine) | | | 60 | | | | 2,161 | |
| Matthews International Corp. - Class A (Commercial Services & Supplies) | | | 37 | | | | 1,381 | |
| MAX Holdings, Inc. (Real Estate Management & Development) | | | 24 | | | | 919 | |
| Maxar Technologies, Inc. (Aerospace & Defense) | | | 83 | | | | 1,325 | |
| MAXIMUS, Inc. (IT Services) | | | 85 | | | | 6,099 | |
| MaxLinear, Inc.* - Class A (Semiconductors & Semiconductor Equipment) | | | 84 | | | | 1,637 | |
| MBIA, Inc.* (Insurance) | | | 107 | | | | 969 | |
| McGrath RentCorp (Commercial Services & Supplies) | | | 37 | | | | 2,861 | |
| Medifast, Inc. (Personal Products) | | | 12 | | | | 1,160 | |
| Medpace Holdings* (Life Sciences Tools & Services) | | | 37 | | | | 3,165 | |
| Mercantile Bank Corp. (Banks) | | | 24 | | | | 786 | |
| Mercury Systems, Inc.* (Aerospace & Defense) | | | 72 | | | | 5,526 | |
| Meredith Corp. (Media) | | | 49 | | | | 1,472 | |
| Meridian Bancorp, Inc. (Thrifts & Mortgage Finance) | | | 60 | | | | 1,079 | |
| Meridian Bioscience, Inc. (Health Care Equipment & Supplies) | | | 58 | | | | 571 | |
| Merit Medical Systems, Inc.* (Health Care Equipment & Supplies) | | | 73 | | | | 2,659 | |
| Meritage Homes Corp.* (Household Durables) | | | 49 | | | | 3,477 | |
| Meritor, Inc.* (Machinery) | | | 109 | | | | 2,388 | |
| Meta Financial Group, Inc. (Thrifts & Mortgage Finance) | | | 47 | | | | 1,749 | |
| Methode Electronics, Inc. (Electronic Equipment, Instruments & Components) | | | 47 | | | | 1,539 | |
| MGE Energy, Inc. (Electric Utilities) | | | 49 | | | | 3,917 | |
| MGP Ingredients, Inc. (Beverages) | | | 12 | | | | 409 | |
| MicroStrategy, Inc.* - Class A (Software) | | | 12 | | | | 1,824 | |
| Middlesex Water Co. (Water Utilities) | | | 25 | | | | 1,632 | |
| Midland States BanCorp, Inc. (Banks) | | | 24 | | | | 634 | |
| Minerals Technologies, Inc. (Chemicals) | | | 49 | | | | 2,652 | |
| Mirati Therapeutics, Inc.* (Biotechnology) | | | 37 | | | | 3,213 | |
| Mobile Mini, Inc. (Commercial Services & Supplies) | | | 60 | | | | 2,504 | |
| MobileIron, Inc.* (Software) | | | 131 | | | | 625 | |
| Model N, Inc.* (Software) | | | 48 | | | | 1,497 | |
| Modine Manufacturing Co.* (Auto Components) | | | 70 | | | | 492 | |
| Moelis & Co. (Capital Markets) | | | 60 | | | | 2,160 | |
| Momenta Pharmaceuticals, Inc.* (Biotechnology) | | | 132 | | | | 3,831 | |
| Monarch Casino & Resort, Inc.* (Hotels, Restaurants & Leisure) | | | 12 | | | | 644 | |
| Monmouth Real Estate Investment Corp. - Class A (Equity Real Estate Investment Trusts) | | | 120 | | | | 1,756 | |
| Monro, Inc. (Specialty Retail) | | | 49 | | | | 3,072 | |
| Moog, Inc. - Class A (Aerospace & Defense) | | | 49 | | | | 4,391 | |
| Movado Group, Inc. (Textiles, Apparel & Luxury Goods) | | | 24 | | | | 413 | |
| Mr. Cooper Group, Inc.* (Thrifts & Mortgage Finance) | | | 107 | | | | 1,325 | |
| MRC Global, Inc.* (Trading Companies & Distributors) | | | 107 | | | | 1,205 | |
| MSA Safety, Inc. (Commercial Services & Supplies) | | | 49 | | | | 6,645 | |
| MSG Networks, Inc.* - Class A (Media) | | | 84 | | | | 1,278 | |
| MTS Systems Corp. (Electronic Equipment, Instruments & Components) | | | 25 | | | | 1,267 | |
| Mueller Industries, Inc. (Machinery) | | | 73 | | | | 2,129 | |
| Mueller Water Products, Inc. - Class A (Machinery) | | | 217 | | | | 2,528 | |
| Murphy USA, Inc.* (Specialty Retail) | | | 37 | | | | 3,780 | |
| Myers Industries, Inc. (Containers & Packaging) | | | 47 | | | | 760 | |
| Myokardia, Inc.* (Pharmaceuticals) | | | 60 | | | | 4,082 | |
Small-Cap ProFund:: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| MYR Group, Inc.* (Construction & Engineering) | | | 24 | | | $ | 689 | |
| Myriad Genetics, Inc.* (Biotechnology) | | | 97 | | | | 2,682 | |
| Nabors Industries, Ltd. (Energy Equipment & Services) | | | 471 | | | | 975 | |
| Nanostring Technologies, Inc.* (Life Sciences Tools & Services) | | | 48 | | | | 1,304 | |
| Natera, Inc.* (Biotechnology) | | | 72 | | | | 2,521 | |
| National Bank Holdings Corp. (Banks) | | | 37 | | | | 1,206 | |
| National Beverage Corp.* (Beverages) | | | 12 | | | | 515 | |
| National General Holdings Corp. (Insurance) | | | 96 | | | | 2,090 | |
| National Health Investors, Inc. (Equity Real Estate Investment Trusts) | | | 60 | | | | 5,063 | |
| National Healthcare Corp. (Health Care Providers & Services) | | | 12 | | | | 1,007 | |
| National Presto Industries, Inc. (Aerospace & Defense) | | | 12 | | | | 1,034 | |
| National Research Corp. (Health Care Providers & Services) | | | 12 | | | | 812 | |
| National Storage Affiliates Trust (Equity Real Estate Investment Trusts) | | | 73 | | | | 2,493 | |
| National Vision Holdings, Inc.* (Specialty Retail) | | | 106 | | | | 3,617 | |
| Natus Medical, Inc.* (Health Care Equipment & Supplies) | | | 48 | | | | 1,502 | |
| Navistar International Corp.* (Machinery) | | | 73 | | | | 2,673 | |
| NBT Bancorp, Inc. (Banks) | | | 60 | | | | 2,267 | |
| Neenah, Inc. (Paper & Forest Products) | | | 25 | | | | 1,666 | |
| Nelnet, Inc. - Class A (Consumer Finance) | | | 25 | | | | 1,432 | |
| Neogen Corp.* (Health Care Equipment & Supplies) | | | 72 | | | | 4,843 | |
| NeoGenomics, Inc.* (Life Sciences Tools & Services) | | | 120 | | | | 3,868 | |
| NETGEAR, Inc.* (Communications Equipment) | | | 36 | | | | 926 | |
| NetScout Systems, Inc.* (Communications Equipment) | | | 97 | | | | 2,494 | |
| Nevro Corp.* (Health Care Equipment & Supplies) | | | 37 | | | | 4,918 | |
| New Jersey Resources Corp. (Gas Utilities) | | | 122 | | | | 5,041 | |
| New Senior Investment Group, Inc. (Equity Real Estate Investment Trusts) | | | 107 | | | | 815 | |
| New York Mortgage Trust, Inc. (Mortgage Real Estate Investment Trusts) | | | 276 | | | | 1,753 | |
| Newmark Group, Inc. (Real Estate Management & Development) | | | 192 | | | | 2,260 | |
| Newpark Resources, Inc.* (Energy Equipment & Services) | | | 119 | | | | 595 | |
| Nexpoint Residential Trust, Inc. (Equity Real Estate Investment Trusts) | | | 25 | | | | 1,220 | |
| NextGen Healthcare, Inc.* (Health Care Technology) | | | 71 | | | | 984 | |
| NIC, Inc. (IT Services) | | | 84 | | | | 1,657 | |
| Nicolet Bankshares, Inc.* (Banks) | | | 12 | | | | 848 | |
| Nlight, Inc.* (Electronic Equipment, Instruments & Components) | | | 48 | | | | 843 | |
| NMI Holdings, Inc.* - Class A (Thrifts & Mortgage Finance) | | | 85 | | | | 2,713 | |
| Noble Corp. PLC* (Energy Equipment & Services) | | | 335 | | | | 271 | |
| Northern Oil & Gas, Inc.* (Oil, Gas & Consumable Fuels) | | | 373 | | | | 619 | |
| Northfield Bancorp, Inc. (Thrifts & Mortgage Finance) | | | 60 | | | | 953 | |
| Northwest Bancshares, Inc. (Thrifts & Mortgage Finance) | | | 132 | | | | 2,076 | |
| Northwest Natural Holding Co. (Gas Utilities) | | | 37 | | | | 2,715 | |
| NorthWestern Corp. (Multi-Utilities) | | | 72 | | | | 5,542 | |
| Novagold Resources, Inc.* (Metals & Mining) | | | 313 | | | | 2,855 | |
| Novanta, Inc.* (Electronic Equipment, Instruments & Components) | | | 49 | | | | 4,446 | |
| Novocure, Ltd.* (Health Care Equipment & Supplies) | | | 109 | | | | 8,878 | |
| NOW, Inc.* (Trading Companies & Distributors) | | | 143 | | | | 1,431 | |
| NuVasive, Inc.* (Health Care Equipment & Supplies) | | | 72 | | | | 5,553 | |
| NV5 Global, Inc.* (Construction & Engineering) | | | 12 | | | | 745 | |
| Oasis Petroleum, Inc.* (Oil, Gas & Consumable Fuels) | | | 434 | | | | 977 | |
| Oceaneering International, Inc.* (Energy Equipment & Services) | | | 132 | | | | 1,638 | |
| Oceanfirst Financial Corp. (Thrifts & Mortgage Finance) | | | 73 | | | | 1,698 | |
| Office Depot, Inc. (Specialty Retail) | | | 736 | | | | 1,634 | |
| Office Properties Income Trust (Equity Real Estate Investment Trusts) | | | 60 | | | | 2,042 | |
| OFG Bancorp (Banks) | | | 73 | | | | 1,439 | |
| Oil States International, Inc.* (Energy Equipment & Services) | | | 84 | | | | 906 | |
| Old National Bancorp (Banks) | | | 229 | | | | 4,101 | |
| Omeros Corp.* (Pharmaceuticals) | | | 59 | | | | 753 | |
| Omnicell, Inc.* (Health Care Technology) | | | 60 | | | | 4,876 | |
| ONE Gas, Inc. (Gas Utilities) | | | 72 | | | | 6,804 | |
| One Liberty Properties, Inc. (Equity Real Estate Investment Trusts) | | | 24 | | | | 656 | |
| OneSpan, Inc.* (Software) | | | 47 | | | | 781 | |
| OneSpaWorld Holdings, Ltd. (Diversified Consumer Services) | | | 59 | | | | 886 | |
| Onto Innovation, Inc.* (Semiconductors & Semiconductor Equipment) | | | 73 | | | | 2,770 | |
| OPKO Health, Inc.* (Biotechnology) | | | 458 | | | | 664 | |
| Opus Bank (Banks) | | | 24 | | | | 639 | |
| OraSure Technologies, Inc.* (Health Care Equipment & Supplies) | | | 82 | | | | 578 | |
| ORBCOMM, Inc.* (Diversified Telecommunication Services) | | | 95 | | | | 341 | |
| Origin BanCorp, Inc. (Banks) | | | 24 | | | | 846 | |
| Orion Engineered Carbons SA (Chemicals) | | | 84 | | | | 1,319 | |
| Ormat Technologies, Inc. (Independent Power and Renewable Electricity Producers) | | | 49 | | | | 3,884 | |
| Orthofix Medical, Inc.* (Health Care Equipment & Supplies) | | | 25 | | | | 1,082 | |
| OSI Systems, Inc.* (Electronic Equipment, Instruments & Components) | | | 25 | | | | 2,164 | |
| Otter Tail Corp. (Electric Utilities) | | | 49 | | | | 2,624 | |
| Oxford Industries, Inc. (Textiles, Apparel & Luxury Goods) | | | 25 | | | | 1,735 | |
Small-Cap ProFund:: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| P.H. Glatfelter Co. (Paper & Forest Products) | | | 60 | | | $ | 1,002 | |
| Pacific Biosciences of California, Inc.* (Life Sciences Tools & Services) | | | 192 | | | | 897 | |
| Pacific Premier Bancorp, Inc. (Banks) | | | 85 | | | | 2,533 | |
| Pacira BioSciences, Inc.* (Pharmaceuticals) | | | 60 | | | | 2,593 | |
| Papa John's International, Inc. (Hotels, Restaurants & Leisure) | | | 25 | | | | 1,620 | |
| Par Pacific Holdings, Inc.* (Oil, Gas & Consumable Fuels) | | | 48 | | | | 966 | |
| Park National Corp. (Banks) | | | 25 | | | | 2,374 | |
| Parsons Corp.* (Aerospace & Defense) | | | 25 | | | | 1,023 | |
| Patrick Industries, Inc. (Building Products) | | | 37 | | | | 1,920 | |
| Pattern Energy Group, Inc. (Independent Power and Renewable Electricity Producers) | | | 121 | | | | 3,256 | |
| Patterson Cos., Inc. (Health Care Providers & Services) | | | 109 | | | | 2,399 | |
| PDC Energy, Inc.* (Oil, Gas & Consumable Fuels) | | | 133 | | | | 2,871 | |
| Peabody Energy Corp. (Oil, Gas & Consumable Fuels) | | | 95 | | | | 642 | |
| Peapack Gladstone Financial Corp. (Banks) | | | 24 | | | | 702 | |
| Pebblebrook Hotel Trust (Equity Real Estate Investment Trusts) | | | 181 | | | | 4,293 | |
| Penn National Gaming, Inc.* (Hotels, Restaurants & Leisure) | | | 145 | | | | 4,325 | |
| Pennsylvania Real Estate Investment Trust(a) (Equity Real Estate Investment Trusts) | | | 95 | | | | 374 | |
| Pennymac Financial Services, Inc. (Thrifts & Mortgage Finance) | | | 37 | | | | 1,248 | |
| PennyMac Mortgage Investment Trust (Mortgage Real Estate Investment Trusts) | | | 96 | | | | 2,232 | |
| Peoples BanCorp, Inc. (Banks) | | | 24 | | | | 781 | |
| People's Utah BanCorp (Banks) | | | 24 | | | | 626 | |
| Perdoceo Education Corp.* (Diversified Consumer Services) | | | 96 | | | | 1,707 | |
| Perficient, Inc.* (IT Services) | | | 49 | | | | 2,435 | |
| Performance Food Group Co.* (Food & Staples Retailing) | | | 145 | | | | 7,509 | |
| Perspecta, Inc. (IT Services) | | | 193 | | | | 5,418 | |
| Petiq, Inc.* (Health Care Providers & Services) | | | 24 | | | | 714 | |
| PGT Innovations, Inc.* (Building Products) | | | 71 | | | | 1,101 | |
| Phibro Animal Health Corp. - Class A (Pharmaceuticals) | | | 24 | | | | 569 | |
| Photronics, Inc.* (Semiconductors & Semiconductor Equipment) | | | 83 | | | | 1,061 | |
| Physicians Realty Trust (Equity Real Estate Investment Trusts) | | | 254 | | | | 4,915 | |
| Piedmont Office Realty Trust, Inc. - Class A (Equity Real Estate Investment Trusts) | | | 169 | | | | 3,919 | |
| Piper Sandler Cos. (Capital Markets) | | | 25 | | | | 2,061 | |
| Pitney Bowes, Inc. (Commercial Services & Supplies) | | | 240 | | | | 898 | |
| PJT Partners, Inc. - Class A (Capital Markets) | | | 37 | | | | 1,703 | |
| Plantronics, Inc. (Communications Equipment) | | | 48 | | | | 1,379 | |
| Playags, Inc.* (Hotels, Restaurants & Leisure) | | | 34 | | | | 350 | |
| Plexus Corp.* (Electronic Equipment, Instruments & Components) | | | 37 | | | | 2,631 | |
| Plug Power, Inc.*(a) (Electrical Equipment) | | | 313 | | | | 1,210 | |
| PNM Resources, Inc. (Electric Utilities) | | | 109 | | | | 5,911 | |
| PolyOne Corp. (Chemicals) | | | 109 | | | | 3,617 | |
| Portland General Electric Co. (Electric Utilities) | | | 122 | | | | 7,503 | |
| Portola Pharmaceuticals, Inc.* (Biotechnology) | | | 85 | | | | 1,087 | |
| PotlatchDeltic Corp. (Equity Real Estate Investment Trusts) | | | 85 | | | | 3,655 | |
| Power Integrations, Inc. (Semiconductors & Semiconductor Equipment) | | | 37 | | | | 3,614 | |
| PQ Group Holdings, Inc.* (Chemicals) | | | 47 | | | | 720 | |
| PRA Group, Inc.* (Consumer Finance) | | | 60 | | | | 2,122 | |
| Preferred Apartment Communities, Inc. - Class A (Equity Real Estate Investment Trusts) | | | 59 | | | | 695 | |
| Preferred Bank (Banks) | | | 25 | | | | 1,503 | |
| Prestige Consumer Healthcare, Inc.* (Pharmaceuticals) | | | 72 | | | | 2,920 | |
| PriceSmart, Inc. (Food & Staples Retailing) | | | 37 | | | | 2,267 | |
| Primo Water Corp.* (Beverages) | | | 47 | | | | 708 | |
| Primoris Services Corp. (Construction & Engineering) | | | 61 | | | | 1,301 | |
| Principia BioPharma, Inc.* (Biotechnology) | | | 12 | | | | 632 | |
| ProAssurance Corp. (Insurance) | | | 72 | | | | 2,187 | |
| Progenics Pharmaceuticals, Inc.* (Biotechnology) | | | 119 | | | | 531 | |
| Progress Software Corp. (Software) | | | 60 | | | | 2,708 | |
| ProPetro Holding Corp.* (Energy Equipment & Services) | | | 107 | | | | 1,042 | |
| PROS Holdings, Inc.* (Software) | | | 49 | | | | 2,940 | |
| Proto Labs, Inc.* (Machinery) | | | 37 | | | | 3,830 | |
| Provident Financial Services, Inc. (Thrifts & Mortgage Finance) | | | 85 | | | | 1,939 | |
| PS Business Parks, Inc. (Equity Real Estate Investment Trusts) | | | 25 | | | | 4,189 | |
| PTC Therapeutics, Inc.* (Biotechnology) | | | 72 | | | | 3,708 | |
| Q2 Holdings, Inc.* (Software) | | | 49 | | | | 4,272 | |
| QAD, Inc. (Software) | | | 12 | | | | 617 | |
| QCR Holdings, Inc. (Banks) | | | 25 | | | | 1,028 | |
| QEP Resources, Inc. (Oil, Gas & Consumable Fuels) | | | 324 | | | | 1,027 | |
| QTS Realty Trust, Inc. - Class A (Equity Real Estate Investment Trusts) | | | 72 | | | | 4,095 | |
| Quaker Chemical Corp. (Chemicals) | | | 12 | | | | 1,992 | |
| Qualys, Inc.* (Software) | | | 49 | | | | 4,201 | |
| Quanex Building Products Corp. (Building Products) | | | 48 | | | | 851 | |
| Quidel Corp.* (Health Care Equipment & Supplies) | | | 49 | | | | 3,763 | |
| QuinStreet, Inc.* (Interactive Media & Services) | | | 59 | | | | 764 | |
| Quotient Technology, Inc.* (Internet & Direct Marketing Retail) | | | 107 | | | | 1,077 | |
Small-Cap ProFund:: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| R1 RCM, Inc.* (Health Care Providers & Services) | | | 132 | | | $ | 1,650 | |
| Ra Pharmaceuticals, Inc.* (Biotechnology) | | | 47 | | | | 2,203 | |
| Radian Group, Inc. (Thrifts & Mortgage Finance) | | | 279 | | | | 6,832 | |
| Radius Health, Inc.* (Biotechnology) | | | 61 | | | | 1,071 | |
| RadNet, Inc.* (Health Care Providers & Services) | | | 60 | | | | 1,354 | |
| Rambus, Inc.* (Semiconductors & Semiconductor Equipment) | | | 144 | | | | 2,285 | |
| Rapid7, Inc.* (Software) | | | 60 | | | | 3,563 | |
| Raven Industries, Inc. (Industrial Conglomerates) | | | 47 | | | | 1,474 | |
| RBC Bearings, Inc.* (Machinery) | | | 37 | | | | 5,754 | |
| Ready Capital Corp. (Mortgage Real Estate Investment Trusts) | | | 36 | | | | 588 | |
| Realogy Holdings Corp. (Real Estate Management & Development) | | | 156 | | | | 1,652 | |
| Reata Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 25 | | | | 5,469 | |
| Red Robin Gourmet Burgers, Inc.* (Hotels, Restaurants & Leisure) | | | 12 | | | | 394 | |
| Red Rock Resorts, Inc. - Class A (Hotels, Restaurants & Leisure) | | | 97 | | | | 2,377 | |
| Redfin Corp.* (Real Estate Management & Development) | | | 121 | | | | 2,944 | |
| Redwood Trust, Inc. (Mortgage Real Estate Investment Trusts) | | | 132 | | | | 2,327 | |
| Regenxbio, Inc.* (Biotechnology) | | | 49 | | | | 2,133 | |
| Regis Corp.* (Diversified Consumer Services) | | | 36 | | | | 559 | |
| Renasant Corp. (Banks) | | | 73 | | | | 2,331 | |
| Renewable Energy Group, Inc.* (Oil, Gas & Consumable Fuels) | | | 47 | | | | 1,235 | |
| Rent-A-Center, Inc. (Specialty Retail) | | | 61 | | | | 1,777 | |
| Repligen Corp.* (Biotechnology) | | | 60 | | | | 6,022 | |
| Republic Bancorp, Inc. - Class A (Banks) | | | 12 | | | | 503 | |
| Resources Connection, Inc. (Professional Services) | | | 36 | | | | 548 | |
| Retail Opportunity Investments Corp. (Equity Real Estate Investment Trusts) | | | 157 | | | | 2,601 | |
| Retail Value, Inc. (Equity Real Estate Investment Trusts) | | | 25 | | | | 822 | |
| Retrophin, Inc.* (Biotechnology) | | | 59 | | | | 912 | |
| Revance Therapeutics, Inc.* (Pharmaceuticals) | | | 59 | | | | 1,320 | |
| Rexford Industrial Realty, Inc. (Equity Real Estate Investment Trusts) | | | 145 | | | | 6,988 | |
| Rexnord Corp.* (Machinery) | | | 145 | | | | 4,734 | |
| RH* (Specialty Retail) | | | 25 | | | | 5,219 | |
| Rhythm Pharmaceuticals, Inc.* (Biotechnology) | | | 37 | | | | 649 | |
| Rite Aid Corp.*(a) (Food & Staples Retailing) | | | 70 | | | | 837 | |
| RLI Corp. (Insurance) | | | 49 | | | | 4,556 | |
| RLJ Lodging Trust (Equity Real Estate Investment Trusts) | | | 229 | | | | 3,563 | |
| Rocket Pharmaceuticals, Inc.* (Biotechnology) | | | 35 | | | | 717 | |
| Rogers Corp.* (Electronic Equipment, Instruments & Components) | | | 25 | | | | 2,944 | |
| Rosetta Stone, Inc.* (Entertainment) | | | 23 | | | | 394 | |
| RPC, Inc. (Energy Equipment & Services) | | | 82 | | | | 371 | |
| RPT Realty (Equity Real Estate Investment Trusts) | | | 107 | | | | 1,493 | |
| Rubius Therapeutics, Inc.* (Biotechnology) | | | 47 | | | | 367 | |
| Rush Enterprises, Inc. - Class A (Trading Companies & Distributors) | | | 37 | | | | 1,591 | |
| Ruth's Hospitality Group, Inc. (Hotels, Restaurants & Leisure) | | | 37 | | | | 759 | |
| Ryman Hospitality Properties, Inc. - Class I (Equity Real Estate Investment Trusts) | | | 60 | | | | 5,102 | |
| S&T Bancorp, Inc. (Banks) | | | 49 | | | | 1,842 | |
| Sabra Health Care REIT, Inc. (Equity Real Estate Investment Trusts) | | | 241 | | | | 5,182 | |
| Safety Insurance Group, Inc. (Insurance) | | | 25 | | | | 2,302 | |
| Saia, Inc.* (Road & Rail) | | | 37 | | | | 3,224 | |
| SailPoint Technologies Holding, Inc.* (Software) | | | 121 | | | | 3,036 | |
| Sally Beauty Holdings, Inc.* (Specialty Retail) | | | 169 | | | | 2,594 | |
| Sanderson Farms, Inc. (Food Products) | | | 25 | | | | 3,442 | |
| Sandy Spring Bancorp, Inc. (Banks) | | | 49 | | | | 1,705 | |
| Sangamo Therapeutics, Inc.* (Biotechnology) | | | 155 | | | | 1,136 | |
| Sanmina Corp.* (Electronic Equipment, Instruments & Components) | | | 97 | | | | 3,088 | |
| Saul Centers, Inc. (Equity Real Estate Investment Trusts) | | | 12 | | | | 593 | |
| ScanSource, Inc.* (Electronic Equipment, Instruments & Components) | | | 37 | | | | 1,291 | |
| Schnitzer Steel Industries, Inc. - Class A (Metals & Mining) | | | 37 | | | | 595 | |
| Scholastic Corp. (Media) | | | 37 | | | | 1,219 | |
| Schweitzer-Mauduit International, Inc. (Paper & Forest Products) | | | 37 | | | | 1,296 | |
| Science Applications International Corp. (IT Services) | | | 85 | | | | 7,459 | |
| Scientific Games Corp.* - Class A (Hotels, Restaurants & Leisure) | | | 73 | | | | 1,813 | |
| Scorpio Tankers, Inc. (Oil, Gas & Consumable Fuels) | | | 62 | | | | 1,447 | |
| Seacoast Banking Corp.* (Banks) | | | 73 | | | | 1,982 | |
| SEACOR Holdings, Inc.* (Energy Equipment & Services) | | | 25 | | | | 940 | |
| SeaWorld Entertainment, Inc.* (Hotels, Restaurants & Leisure) | | | 73 | | | | 2,516 | |
| Select Energy Services, Inc.* (Energy Equipment & Services) | | | 82 | | | | 571 | |
| Select Medical Holdings Corp.* (Health Care Providers & Services) | | | 144 | | | | 3,289 | |
| Selective Insurance Group, Inc. (Insurance) | | | 85 | | | | 5,630 | |
| Semtech Corp.* (Semiconductors & Semiconductor Equipment) | | | 85 | | | | 4,096 | |
| Sensient Technologies Corp. (Chemicals) | | | 60 | | | | 3,585 | |
| Seritage Growth Properties - Class A (Equity Real Estate Investment Trusts) | | | 49 | | | | 1,799 | |
| ServisFirst Bancshares, Inc. (Banks) | | | 60 | | | | 2,205 | |
| SFL Corp., Ltd. (Oil, Gas & Consumable Fuels) | | | 107 | | | | 1,417 | |
| Shake Shack, Inc.* - Class A (Hotels, Restaurants & Leisure) | | | 37 | | | | 2,496 | |
Small-Cap ProFund:: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | | Shares | | | | Value | |
| Shenandoah Telecommunications Co. (Wireless Telecommunication Services) | | | 60 | | | $ | 2,421 | |
| Shutterstock, Inc.* (Internet & Direct Marketing Retail) | | | 25 | | | | 1,083 | |
| Signet Jewelers, Ltd. (Specialty Retail) | | | 72 | | | | 1,750 | |
| Silicon Laboratories, Inc.* (Semiconductors & Semiconductor Equipment) | | | 60 | | | | 5,899 | |
| Simmons First National Corp. - Class A (Banks) | | | 121 | | | | 2,902 | |
| Simply Good Foods Co.* (Food Products) | | | 97 | | | | 2,228 | |
| Simpson Manufacturing Co., Inc. (Building Products) | | | 60 | | | | 4,960 | |
| Siteone Landscape Supply, Inc.* (Trading Companies & Distributors) | | | 60 | | | | 5,792 | |
| SJW Corp. (Water Utilities) | | | 37 | | | | 2,714 | |
| Skyline Corp.* (Household Durables) | | | 73 | | | | 2,099 | |
| SkyWest, Inc. (Airlines) | | | 72 | | | | 3,972 | |
| Sleep Number Corp.* (Specialty Retail) | | | 37 | | | | 1,909 | |
| SM Energy Co. (Oil, Gas & Consumable Fuels) | | | 155 | | | | 1,423 | |
| Solaris Oilfield Infrastructure, Inc. (Energy Equipment & Services) | | | 35 | | | | 404 | |
| Sonic Automotive, Inc. - Class A (Specialty Retail) | | | 37 | | | | 1,170 | |
| Sonos, Inc.* (Household Durables) | | | 96 | | | | 1,317 | |
| South Jersey Industries, Inc. (Gas Utilities) | | | 121 | | | | 3,727 | |
| South State Corp. (Banks) | | | 49 | | | | 3,705 | |
| Southside Bancshares, Inc. (Banks) | | | 47 | | | | 1,649 | |
| Southwest Gas Holdings, Inc. (Gas Utilities) | | | 72 | | | | 5,437 | |
| Southwestern Energy Co.* (Oil, Gas & Consumable Fuels) | | | 737 | | | | 1,157 | |
| SP Plus Corp.* (Commercial Services & Supplies) | | | 37 | �� | | | 1,547 | |
| Spectrum Pharmaceuticals, Inc.* (Biotechnology) | | | 143 | | | | 362 | |
| Spire, Inc. (Gas Utilities) | | | 72 | | | | 6,071 | |
| Spirit Airlines, Inc.* (Airlines) | | | 98 | | | | 4,025 | |
| SPS Commerce, Inc.* (Software) | | | 49 | | | | 2,785 | |
| SPX Corp.* (Machinery) | | | 60 | | | | 2,944 | |
| SPX FLOW, Inc.* (Machinery) | | | 60 | | | | 2,624 | |
| STAAR Surgical Co.* (Health Care Equipment & Supplies) | | | 60 | | | | 2,018 | |
| STAG Industrial, Inc. (Equity Real Estate Investment Trusts) | | | 169 | | | | 5,449 | |
| Stamps.com, Inc.* (Internet & Direct Marketing Retail) | | | 25 | | | | 1,863 | |
| Standard Motor Products, Inc. (Auto Components) | | | 25 | | | | 1,215 | |
| Standex International Corp. (Machinery) | | | 12 | | | | 877 | |
| State Auto Financial Corp. (Insurance) | | | 25 | | | | 753 | |
| Steelcase, Inc. - Class A (Commercial Services & Supplies) | | | 120 | | | | 2,233 | |
| Stemline Therapeutics, Inc.* (Biotechnology) | | | 47 | | | | 312 | |
| Stepan Co. (Chemicals) | | | 25 | | | | 2,466 | |
| Steven Madden, Ltd. (Textiles, Apparel & Luxury Goods) | | | 122 | | | | 4,704 | |
| Stewart Information Services Corp. (Insurance) | | | 37 | | | | 1,545 | |
| Stifel Financial Corp. (Capital Markets) | | | 98 | | | | 6,339 | |
| Stitch Fix, Inc.* (Internet & Direct Marketing Retail) | | | 61 | | | | 1,397 | |
| Stock Yards BanCorp, Inc. (Banks) | | | 25 | | | | 969 | |
| Stoneridge, Inc.* (Auto Components) | | | 37 | | | | 1,031 | |
| Stratasys, Ltd.* (Technology Hardware, Storage & Peripherals) | | | 72 | | | | 1,295 | |
| Strategic Education, Inc. (Diversified Consumer Services) | | | 25 | | | | 4,057 | |
| Sturm, Ruger & Co., Inc. (Leisure Products) | | | 25 | | | | 1,238 | |
| Summit Hotel Properties, Inc. (Equity Real Estate Investment Trusts) | | | 144 | | | | 1,597 | |
| Summit Materials, Inc.* - Class A (Construction Materials) | | | 156 | | | | 3,427 | |
| SunCoke Energy, Inc. (Metals & Mining) | | | 119 | | | | 700 | |
| SunPower Corp.* (Semiconductors & Semiconductor Equipment) | | | 82 | | | | 699 | |
| Sunrun, Inc.* (Electrical Equipment) | | | 144 | | | | 2,452 | |
| Sunstone Hotel Investors, Inc. (Equity Real Estate Investment Trusts) | | | 314 | | | | 3,982 | |
| Supernus Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 73 | | | | 1,670 | |
| Surmodics, Inc.* (Health Care Equipment & Supplies) | | | 12 | | | | 473 | |
| SVMK, Inc.* (Software) | | | 109 | | | | 1,924 | |
| Sykes Enterprises, Inc.* (IT Services) | | | 49 | | | | 1,646 | |
| Synaptics, Inc.* (Semiconductors & Semiconductor Equipment) | | | 49 | | | | 3,268 | |
| Syneos Health, Inc.* (Life Sciences Tools & Services) | | | 85 | | | | 5,215 | |
| Tabula Rasa Healthcare, Inc.* (Health Care Technology) | | | 25 | | | | 1,452 | |
| Tactile Systems Technology, Inc.* (Health Care Equipment & Supplies) | | | 25 | | | | 1,405 | |
| Talos Energy, Inc.* (Oil, Gas & Consumable Fuels) | | | 24 | | | | 527 | |
| Tandem Diabetes Care, Inc.* (Health Care Equipment & Supplies) | | | 72 | | | | 5,475 | |
| Tanger Factory Outlet Centers, Inc.(a) (Equity Real Estate Investment Trusts) | | | 120 | | | | 1,756 | |
| Taylor Morrison Home Corp.* - Class A (Household Durables) | | | 145 | | | | 3,753 | |
| Team, Inc.* (Commercial Services & Supplies) | | | 36 | | | | 490 | |
| Tech Data Corp.* (Electronic Equipment, Instruments & Components) | | | 49 | | | | 7,052 | |
| TechTarget, Inc.* (Media) | | | 36 | | | | 914 | |
| TEGNA, Inc. (Media) | | | 290 | | | | 4,901 | |
| Teladoc Health, Inc.* (Health Care Technology) | | | 98 | | | | 9,967 | |
| Tellurian, Inc.* (Oil, Gas & Consumable Fuels) | | | 131 | | | | 920 | |
| Tenable Holdings, Inc.* (Software) | | | 48 | | | | 1,308 | |
| Tenet Healthcare Corp.* (Health Care Providers & Services) | | | 145 | | | | 4,588 | |
| Tennant Co. (Machinery) | | | 25 | | | | 1,931 | |
| Tenneco, Inc. (Auto Components) | | | 71 | | | | 672 | |
| Terex Corp. (Machinery) | | | 85 | | | | 2,155 | |
| Terraform Power, Inc. - Class A (Independent Power and Renewable Electricity Producers) | | | 96 | | | | 1,737 | |
Small-Cap ProFund:: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | | Shares | | | | Value | |
| Terreno Realty Corp. (Equity Real Estate Investment Trusts) | | | 85 | | | $ | 4,867 | |
| Tetra Tech, Inc. (Commercial Services & Supplies) | | | 72 | | | | 6,163 | |
| Texas Roadhouse, Inc. - Class A (Hotels, Restaurants & Leisure) | | | 98 | | | | 6,125 | |
| TG Therapeutics, Inc.* (Biotechnology) | | | 107 | | | | 1,520 | |
| The Andersons, Inc. (Food & Staples Retailing) | | | 48 | | | | 1,086 | |
| The Bancorp, Inc.* (Banks) | | | 70 | | | | 828 | |
| The Boston Beer Co, Inc.* - Class A (Beverages) | | | 12 | | | | 4,276 | |
| The Brink's Co. (Commercial Services & Supplies) | | | 72 | | | | 6,062 | |
| The Buckle, Inc. (Specialty Retail) | | | 36 | | | | 879 | |
| The Cheesecake Factory, Inc. (Hotels, Restaurants & Leisure) | | | 60 | | | | 2,304 | |
| The Children's Place, Inc. (Specialty Retail) | | | 25 | | | | 1,492 | |
| The E.W. Scripps Co. - Class A (Media) | | | 71 | | | | 862 | |
| The Ensign Group, Inc. (Health Care Providers & Services) | | | 72 | | | | 3,254 | |
| The GEO Group, Inc. (Equity Real Estate Investment Trusts) | | | 157 | | | | 2,481 | |
| The Greenbrier Cos., Inc. (Machinery) | | | 48 | | | | 1,156 | |
| The Manitowoc Co., Inc.* (Machinery) | | | 47 | | | | 679 | |
| The Marcus Corp. (Entertainment) | | | 37 | | | | 1,079 | |
| The Michaels Cos., Inc.* (Specialty Retail) | | | 119 | | | | 587 | |
| The Providence Service Corp.* (Health Care Providers & Services) | | | 12 | | | | 778 | |
| The St Joe Co.* (Real Estate Management & Development) | | | 48 | | | | 1,008 | |
| TherapeuticsMD, Inc.*(a) (Pharmaceuticals) | | | 265 | | | | 596 | |
| Theravance Biopharma, Inc.* (Pharmaceuticals) | | | 60 | | | | 1,673 | |
| Thermon Group Holdings, Inc.* (Electrical Equipment) | | | 48 | | | | 1,138 | |
| Third Point Reinsurance, Ltd.* (Insurance) | | | 95 | | | | 1,035 | |
| Tidewater, Inc.* (Energy Equipment & Services) | | | 47 | | | | 713 | |
| Tivity Health, Inc.* (Health Care Providers & Services) | | | 61 | | | | 1,320 | |
| TiVo Corp. (Software) | | | 167 | | | | 1,216 | |
| Tompkins Financial Corp. (Banks) | | | 25 | | | | 2,152 | |
| Tootsie Roll Industries, Inc.(a) (Food Products) | | | 25 | | | | 853 | |
| TopBuild Corp.* (Household Durables) | | | 49 | | | | 5,611 | |
| TowneBank (Banks) | | | 85 | | | | 2,257 | |
| TPG RE Finance Trust, Inc. - Class T (Mortgage Real Estate Investment Trusts) | | | 73 | | | | 1,494 | |
| TPI Composites, Inc.* (Electrical Equipment) | | | 36 | | | | 747 | |
| Tredegar Corp. (Chemicals) | | | 37 | | | | 753 | |
| Trex Co., Inc.* (Building Products) | | | 85 | | | | 8,350 | |
| TRI Pointe Group, Inc.* (Household Durables) | | | 192 | | | | 3,122 | |
| Tricida, Inc.* (Pharmaceuticals) | | | 25 | | | | 882 | |
| TriCo Bancshares (Banks) | | | 37 | | | | 1,347 | |
| TriMas Corp.* (Machinery) | | | 61 | | | | 1,753 | |
| TriNet Group, Inc.* (Professional Services) | | | 60 | | | | 3,424 | |
| Trinseo SA (Chemicals) | | | 60 | | | | 1,723 | |
| Triple-S Management Corp.* (Health Care Providers & Services) | | | 25 | | | | 441 | |
| Tristate Capital Holdings, Inc.* (Banks) | | | 36 | | | | 828 | |
| Triton International, Ltd. (Trading Companies & Distributors) | | | 72 | | | | 2,704 | |
| Triumph Bancorp, Inc.* (Banks) | | | 37 | | | | 1,442 | |
| Triumph Group, Inc. (Aerospace & Defense) | | | 73 | | | | 1,491 | |
| Tronox Holdings PLC - Class A (Chemicals) | | | 132 | | | | 1,117 | |
| TrueBlue, Inc.* (Professional Services) | | | 48 | | | | 1,052 | |
| TrueCar, Inc.* (Interactive Media & Services) | | | 142 | | | | 525 | |
| Trupanion, Inc.* (Insurance) | | | 37 | | | | 1,181 | |
| TrustCo Bank Corp. (Thrifts & Mortgage Finance) | | | 132 | | | | 1,047 | |
| Trustmark Corp. (Banks) | | | 85 | | | | 2,718 | |
| TTEC Holdings, Inc. (IT Services) | | | 25 | | | | 993 | |
| TTM Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | | 132 | | | | 1,899 | |
| Tucows, Inc.* (IT Services) | | | 12 | | | | 723 | |
| Tupperware Brands Corp. (Household Durables) | | | 59 | | | | 369 | |
| Tutor Perini Corp.* (Construction & Engineering) | | | 47 | | | | 529 | |
| Twin River Worldwide Holdings, Inc. (Hotels, Restaurants & Leisure) | | | 24 | | | | 640 | |
| Twist Bioscience Corp.* (Biotechnology) | | | 24 | | | | 596 | |
| U.S. Concrete, Inc.* (Construction Materials) | | | 25 | | | | 890 | |
| U.S. Ecology, Inc. (Commercial Services & Supplies) | | | 25 | | | | 1,350 | |
| U.S. Physical Therapy, Inc. (Health Care Providers & Services) | | | 12 | | | | 1,406 | |
| U.S. Silica Holdings, Inc. (Energy Equipment & Services) | | | 95 | | | | 488 | |
| Ultra Clean Holdings, Inc.* (Semiconductors & Semiconductor Equipment) | | | 48 | | | | 1,104 | |
| Ultragenyx Pharmaceutical, Inc.* (Biotechnology) | | | 72 | | | | 3,784 | |
| UMB Financial Corp. (Banks) | | | 60 | | | | 3,988 | |
| UMH Properties, Inc. (Equity Real Estate Investment Trusts) | | | 47 | | | | 743 | |
| UniFirst Corp. (Commercial Services & Supplies) | | | 25 | | | | 5,098 | |
| Unisys Corp.* (IT Services) | | | 70 | | | | 680 | |
| Unit Corp.* (Energy Equipment & Services) | | | 70 | | | | 28 | |
| United Bankshares, Inc. (Banks) | | | 134 | | | | 4,596 | |
| United Community Banks, Inc. (Banks) | | | 109 | | | | 3,043 | |
| United Fire Group, Inc. (Insurance) | | | 25 | | | | 1,107 | |
| United Natural Foods, Inc.* (Food & Staples Retailing) | | | 70 | | | | 504 | |
| Uniti Group, Inc. (Equity Real Estate Investment Trusts) | | | 252 | | | | 1,595 | |
| Unitil Corp. (Multi-Utilities) | | | 25 | | | | 1,542 | |
| Universal Corp. (Tobacco) | | | 37 | | | | 1,967 | |
| Universal Electronics, Inc.* (Household Durables) | | | 25 | | | | 1,238 | |
| Universal Forest Products, Inc. (Building Products) | | | 85 | | | | 4,072 | |
| Universal Health Realty Income Trust (Equity Real Estate Investment Trusts) | | | 12 | | | | 1,480 | |
Small-Cap ProFund::Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | | Shares | | | | Value | |
| Universal Insurance Holdings, Inc. (Insurance) | | | 36 | | | $ | 876 | |
| Univest Financial Corp. (Banks) | | | 36 | | | | 894 | |
| Upland Software, Inc.* (Software) | | | 37 | | | | 1,444 | |
| Upwork, Inc.* (Professional Services) | | | 70 | | | | 643 | |
| Urban Edge Properties (Equity Real Estate Investment Trusts) | | | 157 | | | | 2,887 | |
| Urogen Pharma, Ltd.* (Biotechnology) | | | 25 | | | | 735 | |
| Urstadt Biddle Properties, Inc. - Class A (Equity Real Estate Investment Trusts) | | | 36 | | | | 816 | |
| USANA Health Sciences, Inc.* (Personal Products) | | | 25 | | | | 1,543 | |
| Valley National Bancorp (Banks) | | | 520 | | | | 5,476 | |
| Vanda Pharmaceuticals, Inc.* (Biotechnology) | | | 71 | | | | 905 | |
| Varex Imaging Corp.* (Health Care Equipment & Supplies) | | | 48 | | | | 1,327 | |
| Varonis Systems, Inc.* (Software) | | | 37 | | | | 3,095 | |
| Vector Group, Ltd. (Tobacco) | | | 150 | | | | 1,971 | |
| Vectrus, Inc.* (Aerospace & Defense) | | | 12 | | | | 669 | |
| Veeco Instruments, Inc.* (Semiconductors & Semiconductor Equipment) | | | 58 | | | | 740 | |
| Veracyte, Inc.* (Biotechnology) | | | 61 | | | | 1,601 | |
| Vericel Corp.* (Biotechnology) | | | 60 | | | | 984 | |
| Verint Systems, Inc.* (Software) | | | 85 | | | | 4,930 | |
| Veritex Holdings, Inc. (Banks) | | | 73 | | | | 2,067 | |
| Verra Mobility Corp.* - Class C (IT Services) | | | 132 | | | | 2,103 | |
| Verso Corp.* - Class A (Paper & Forest Products) | | | 47 | | | | 792 | |
| Viad Corp. (Commercial Services & Supplies) | | | 25 | | | | 1,625 | |
| Viavi Solutions, Inc.* (Communications Equipment) | | | 314 | | | | 4,427 | |
| Vicor Corp.* (Electrical Equipment) | | | 24 | | | | 1,201 | |
| ViewRay, Inc.* (Health Care Equipment & Supplies) | | | 95 | | | | 296 | |
| Viking Therapeutics, Inc.*(a) (Biotechnology) | | | 82 | | | | 515 | |
| Virtus Investment Partners, Inc. (Capital Markets) | | | 12 | | | | 1,476 | |
| Virtusa Corp.* (IT Services) | | | 37 | | | | 1,541 | |
| Vishay Intertechnology, Inc. (Electronic Equipment, Instruments & Components) | | | 182 | | | | 3,693 | |
| Vista Outdoor, Inc.* (Leisure Products) | | | 70 | | | | 520 | |
| Visteon Corp.* (Auto Components) | | | 37 | | | | 2,953 | |
| Vocera Communications, Inc.* (Health Care Technology) | | | 37 | | | | 815 | |
| Vonage Holdings Corp.* (Diversified Telecommunication Services) | | | 301 | | | | 2,670 | |
| Voyager Therapeutics, Inc.* (Biotechnology) | | | 36 | | | | 397 | |
| W&T Offshore, Inc.* (Oil, Gas & Consumable Fuels) | | | 131 | | | | 542 | |
| Wabash National Corp. (Machinery) | | | 71 | | | | 824 | |
| Waddell & Reed Financial, Inc. - Class A (Capital Markets) | | | 96 | | | | 1,534 | |
| Walker & Dunlop, Inc. (Thrifts & Mortgage Finance) | | | 37 | | | | 2,456 | |
| Warrior Met Coal, Inc. (Metals & Mining) | | | 73 | | | | 1,377 | |
| Washington Federal, Inc. (Thrifts & Mortgage Finance) | | | 109 | | | | 3,706 | |
| Washington Prime Group, Inc.(a) (Equity Real Estate Investment Trusts) | | | 252 | | | | 759 | |
| Washington Real Estate Investment Trust (Equity Real Estate Investment Trusts) | | | 109 | | | | 3,318 | |
| Washington Trust BanCorp, Inc. (Banks) | | | 25 | | | | 1,183 | |
| Waterstone Financial, Inc. (Thrifts & Mortgage Finance) | | | 36 | | | | 630 | |
| Watford Holdings, Ltd.* (Insurance) | | | 24 | | | | 524 | |
| Watts Water Technologies, Inc. - Class A (Machinery) | | | 37 | | | | 3,689 | |
| WaVe Life Sciences, Ltd.*(a) (Pharmaceuticals) | | | 37 | | | | 263 | |
| WD-40 Co. (Household Products) | | | 25 | | | | 4,670 | |
| Welbilt, Inc.* (Machinery) | | | 182 | | | | 2,746 | |
| Werner Enterprises, Inc. (Road & Rail) | | | 60 | | | | 2,212 | |
| WesBanco, Inc. (Banks) | | | 85 | | | | 2,815 | |
| Westamerica Bancorp (Banks) | | | 37 | | | | 2,344 | |
| Western Asset Mortgage Capital Corp. (Mortgage Real Estate Investment Trusts) | | | 58 | | | | 615 | |
| Whitestone REIT (Equity Real Estate Investment Trusts) | | | 47 | | | | 616 | |
| Whiting Petroleum Corp.*(a) (Oil, Gas & Consumable Fuels) | | | 119 | | | | 540 | |
| William Lyon Homes* - Class A (Household Durables) | | | 48 | | | | 1,113 | |
| Willscot Corp.* (Construction & Engineering) | | | 71 | | | | 1,338 | |
| Wingstop, Inc. (Hotels, Restaurants & Leisure) | | | 37 | | | | 3,432 | |
| Winnebago Industries, Inc. (Automobiles) | | | 37 | | | | 2,026 | |
| WisdomTree Investments, Inc. (Capital Markets) | | | 179 | | | | 754 | |
| Wolverine World Wide, Inc. (Textiles, Apparel & Luxury Goods) | | | 122 | | | | 3,852 | |
| Workiva, Inc.* (Software) | | | 49 | | | | 2,229 | |
| World Acceptance Corp.* (Consumer Finance) | | | 12 | | | | 1,038 | |
| World Fuel Services Corp. (Oil, Gas & Consumable Fuels) | | | 85 | | | | 3,324 | |
| Worthington Industries, Inc. (Metals & Mining) | | | 49 | | | | 1,802 | |
| Wright Medical Group N.V.* (Health Care Equipment & Supplies) | | | 169 | | | | 5,094 | |
| WSFS Financial Corp. (Thrifts & Mortgage Finance) | | | 72 | | | | 2,872 | |
| WW International, Inc.* (Diversified Consumer Services) | | | 60 | | | | 1,979 | |
| Xencor, Inc.* (Biotechnology) | | | 60 | | | | 2,036 | |
| Xenia Hotels & Resorts, Inc. (Equity Real Estate Investment Trusts) | | | 157 | | | | 2,934 | |
| Xperi Corp. (Semiconductors & Semiconductor Equipment) | | | 72 | | | | 1,158 | |
| Yelp, Inc.* (Interactive Media & Services) | | | 98 | | | | 3,195 | |
| Yeti Holdings, Inc.* (Leisure Products) | | | 49 | | | | 1,782 | |
| Yext, Inc.* (Software) | | | 121 | | | | 1,808 | |
| Y-mAbs Therapeutics, Inc.* (Biotechnology) | | | 24 | | | | 792 | |
| York Water Co. (Water Utilities) | | | 12 | | | | 568 | |
| ZIOPHARM Oncology, Inc.*(a) (Biotechnology) | | | 217 | | | | 855 | |
| ZixCorp.* (Software) | | | 70 | | | | 473 | |
| Zogenix, Inc.* (Pharmaceuticals) | | | 60 | | | | 3,022 | |
Small-Cap ProFund:: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | | Shares | | | | Value | |
| Zumiez, Inc.* (Specialty Retail) | | | 24 | | | $ | 748 | |
| Zuora, Inc.* - Class A (Software) | | | 120 | | | | 1,770 | |
| TOTAL COMMON STOCKS | | | | | | | | |
| (Cost $1,498,466) | | | | | | | 2,473,167 | |
| Contingent Right(NM) | | | | | | | | |
| A. Schulman, Inc.*+(b) (Chemicals) | | | 204 | | | | 107 | |
| TOTAL CONTINGENT RIGHT | | | | | | | | |
| (Cost $408) | | | | | | | 107 | |
| Trust (0.0%) | | | | | | | | |
| | | | | | | | | |
| | | | Interest Units | | | | Value | |
| Ferroglobe Representation and Warranty Insurance*+(Metals & Mining) | | | 290 | | | $ | - | |
TOTAL TRUST
(Cost $-) | | | | | | | - | |
| Repurchase Agreements(c)(d) (41.8%) | | | | | | | | |
| | | | | | | | | |
| | | | Principal Amount | | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%-1.51%, dated 1/31/20, due 2/3/20, total to be received $1,680,204 | | $ | 1,680,000 | | | $ | 1,680,000 | |
| TOTAL REPURCHASE AGREEMENTS | | | | | | | | |
| (Cost $1,680,000) | | | | | | | 1,680,000 | |
| Collateral for Securities Loaned (0.4%) | | | | | | | | |
| | | | | | | | | |
| | | | Shares | | | | Value | |
| BlackRock Liquidity Funds FedFund Portfolio - Institutional Shares, 1.57%(e) | | | 7,626 | | | $ | 7,626 | |
| Invesco Government & Agency Portfolio - Institutional Shares, 1.58%(e) | | | 2,337 | | | | 2,337 | |
| Fidelity Investments Money Market Government Portfolio - Class I, 1.58%(e) | | | 7,255 | | | | 7,255 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $17,218) | | | | | | | 17,218 | |
| TOTAL INVESTMENT SECURITIES | | | | | | | | |
| (Cost $3,196,092) - 103.8% | | | | | | | 4,170,492 | |
| Net other assets (liabilities) - (3.8)% | | | | | | | (155,324 | ) |
| NET ASSETS - 100.0% | | | | | | $ | 4,015,168 | |
| * | Non-income producing security. |
| + | These securities were fair valued based on procedures approved by the Board of Trustees. As of January 31, 2020, these securities represented less than 0.005% of the net assets of the Fund. |
| (a) | All or part of this security was on loan as of January 31, 2020. The total value of securities on loan as of January 31, 2020 was $15,906. |
| (b) | No explicit expiration date, expiration is subject to contingencies. In August 2018, LyondellBasell Industries N.V. completed an acquisition of 100% of A. Schulman, Inc. in exchange for cash and a contingent right per share acquired. Rights entitle the Fund to certain net proceeds, if any, that are recovered from ongoing litigation and government investigations related to past acquisitions made my A. Schulman, Inc. |
| (c) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $342,000. |
| (d) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (e) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2020. |
| | |
Small-Cap ProFund:: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Futures Contracts Purchased
| | | Number
of
Contracts | | | Expiration
Date | | Notional Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini Russell 2000 Index Futures Contracts | | | 9 | | | 3/23/20 | | $ | 726,570 | | | $ | (15,359 | ) |
Total Return Swap Agreements — Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | | Rate Paid
(Received)(2) | | Notional Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Russell 2000 Index | | Goldman Sachs International | | | 2/27/20 | | | 1.84 | % | $ | 153,949 | | | $ | 27,438 | |
| Russell 2000 Index | | UBS AG | | | 2/27/20 | | | 1.59 | % | | 661,093 | | | | (15,353 | ) |
| | | | | | | | | | | $ | 815,042 | | | $ | 12,085 | |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
Small-Cap ProFund:: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Small-Cap ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 37,659 | | | | 0.9 | % |
| Air Freight & Logistics | | | 8,276 | | | | 0.2 | % |
| Airlines | | | 11,714 | | | | 0.3 | % |
| Auto Components | | | 28,548 | | | | 0.7 | % |
| Automobiles | | | 2,026 | | | | 0.1 | % |
| Banks | | | 229,601 | | | | 5.6 | % |
| Beverages | | | 9,158 | | | | 0.2 | % |
| Biotechnology | | | 151,386 | | | | 3.7 | % |
| Building Products | | | 44,777 | | | | 1.1 | % |
| Capital Markets | | | 38,865 | | | | 1.0 | % |
| Chemicals | | | 46,446 | | | | 1.2 | % |
| Commercial Services & Supplies | | | 74,207 | | | | 1.8 | % |
| Communications Equipment | | | 28,666 | | | | 0.7 | % |
| Construction & Engineering | | | 26,172 | | | | 0.7 | % |
| Construction Materials | | | 4,317 | | | | 0.1 | % |
| Consumer Finance | | | 15,931 | | | | 0.4 | % |
| Containers & Packaging | | | 2,256 | | | | 0.1 | % |
| Distributors | | | 1,776 | | | | NM | |
| Diversified Consumer Services | | | 23,102 | | | | 0.6 | % |
| Diversified Financial Services | | | 6,543 | | | | 0.2 | % |
| Diversified Telecommunication Services | | | 14,015 | | | | 0.3 | % |
| Electric Utilities | | | 30,051 | | | | 0.7 | % |
| Electrical Equipment | | | 29,503 | | | | 0.7 | % |
| Electronic Equipment, Instruments & Components | | | 66,645 | | | | 1.7 | % |
| Energy Equipment & Services | | | 18,049 | | | | 0.4 | % |
| Entertainment | | | 5,451 | | | | 0.1 | % |
| Equity Real Estate Investment Trusts | | | 183,115 | | | | 4.6 | % |
| Food & Staples Retailing | | | 17,834 | | | | 0.4 | % |
| Food Products | | | 31,733 | | | | 0.8 | % |
| Gas Utilities | | | 32,200 | | | | 0.8 | % |
| Health Care Equipment & Supplies | | | 98,179 | | | | 2.4 | % |
| Health Care Providers & Services | | | 56,002 | | | | 1.4 | % |
| Health Care Technology | | | 28,077 | | | | 0.7 | % |
| Hotels, Restaurants & Leisure | | | 70,880 | | | | 1.8 | % |
| Household Durables | | | 51,205 | | | | 1.3 | % |
| Household Products | | | 6,498 | | | | 0.2 | % |
| Independent Power and Renewable Electricity Producers | | | 11,881 | | | | 0.3 | % |
| Industrial Conglomerates | | | 1,474 | | | | NM | |
| Insurance | | | 57,439 | | | | 1.4 | % |
| Interactive Media & Services | | | 10,673 | | | | 0.3 | % |
| Internet & Direct Marketing Retail | | | 7,741 | | | | 0.2 | % |
| IT Services | | | 59,346 | | | | 1.5 | % |
| Leisure Products | | | 9,328 | | | | 0.2 | % |
| Life Sciences Tools & Services | | | 17,893 | | | | 0.4 | % |
| Machinery | | | 98,742 | | | | 2.5 | % |
| Marine | | | 2,161 | | | | 0.1 | % |
| Media | | | 18,789 | | | | 0.5 | % |
| Metals & Mining | | | 30,054 | | | | 0.7 | % |
| Mortgage Real Estate Investment Trusts | | | 35,071 | | | | 0.9 | % |
| Multiline Retail | | | 2,028 | | | | 0.1 | % |
| Multi-Utilities | | | 18,464 | | | | 0.5 | % |
| Oil, Gas & Consumable Fuels | | | 37,601 | | | | 0.9 | % |
| Paper & Forest Products | | | 11,642 | | | | 0.3 | % |
| Personal Products | | | 6,315 | | | | 0.2 | % |
| Pharmaceuticals | | | 43,247 | | | | 1.1 | % |
| Professional Services | | | 39,848 | | | | 1.0 | % |
| Real Estate Management & Development | | | 18,979 | | | | 0.5 | % |
| Road & Rail | | | 13,224 | | | | 0.3 | % |
| Semiconductors & Semiconductor Equipment | | | 71,514 | | | | 1.8 | % |
| Software | | | 122,914 | | | | 3.1 | % |
| Specialty Retail | | | 59,928 | | | | 1.5 | % |
| Technology Hardware, Storage & Peripherals | | | 4,203 | | | | 0.1 | % |
| Textiles, Apparel & Luxury Goods | | | 25,329 | | | | 0.6 | % |
| Thrifts & Mortgage Finance | | | 51,675 | | | | 1.3 | % |
| Tobacco | | | 3,938 | | | | 0.1 | % |
| Trading Companies & Distributors | | | 35,490 | | | | 0.9 | % |
| Water Utilities | | | 12,407 | | | | 0.3 | % |
| Wireless Telecommunication Services | | | 3,073 | | | | 0.1 | % |
| Other ** | | | 1,541,894 | | | | 38.4 | % |
| Total | | $ | 4,015,168 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
| NM | Not meaningful, amount is less than 0.05%. |
UltraBull ProFund:: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks (63.8%)
| | | | Shares | | | | Value | |
| 3M Co. (Industrial Conglomerates) | | | 2,139 | | | $ | 339,374 | |
| A.O. Smith Corp. (Building Products) | | | 510 | | | | 21,772 | |
| Abbott Laboratories (Health Care Equipment & Supplies) | | | 6,572 | | | | 572,684 | |
| AbbVie, Inc. (Biotechnology) | | | 5,499 | | | | 445,529 | |
| ABIOMED, Inc.* (Health Care Equipment & Supplies) | | | 167 | | | | 31,110 | |
| Accenture PLC - Class A (IT Services) | | | 2,361 | | | | 484,501 | |
| Activision Blizzard, Inc. (Entertainment) | | | 2,857 | | | | 167,077 | |
| Adobe, Inc.* (Software) | | | 1,800 | | | | 632,052 | |
| Advance Auto Parts, Inc. (Specialty Retail) | | | 258 | | | | 33,992 | |
| Advanced Micro Devices, Inc.* (Semiconductors & Semiconductor Equipment) | | | 4,143 | | | | 194,721 | |
| Aflac, Inc. (Insurance) | | | 2,729 | | | | 140,735 | |
| Agilent Technologies, Inc. (Life Sciences Tools & Services) | | | 1,151 | | | | 95,027 | |
| Air Products & Chemicals, Inc. (Chemicals) | | | 819 | | | | 195,502 | |
| Akamai Technologies, Inc.* (IT Services) | | | 601 | | | | 56,103 | |
| Alaska Air Group, Inc. (Airlines) | | | 458 | | | | 29,582 | |
| Albemarle Corp. (Chemicals) | | | 395 | | | | 31,711 | |
| Alexandria Real Estate Equities, Inc. (Equity Real Estate Investment Trusts) | | | 429 | | | | 70,013 | |
| Alexion Pharmaceuticals, Inc.* (Biotechnology) | | | 822 | | | | 81,699 | |
| Align Technology, Inc.* (Health Care Equipment & Supplies) | | | 267 | | | | 68,646 | |
| Allegion PLC (Building Products) | | | 345 | | | | 44,615 | |
| Allergan PLC (Pharmaceuticals) | | | 1,221 | | | | 227,887 | |
| Alliance Data Systems Corp. (IT Services) | | | 152 | | | | 15,624 | |
| Alliant Energy Corp. (Electric Utilities) | | | 893 | | | | 53,008 | |
| Alphabet, Inc.* - Class A (Interactive Media & Services) | | | 1,115 | | | | 1,597,550 | |
| Alphabet, Inc.* - Class C (Interactive Media & Services) | | | 1,111 | | | | 1,593,430 | |
| Altria Group, Inc. (Tobacco) | | | 6,948 | | | | 330,238 | |
| Amazon.com, Inc.* (Internet & Direct Marketing Retail) | | | 1,549 | | | | 3,111,507 | |
| Amcor PLC (Containers & Packaging) | | | 6,022 | | | | 63,773 | |
| Ameren Corp. (Multi-Utilities) | | | 915 | | | | 75,076 | |
| American Airlines Group, Inc. (Airlines) | | | 1,449 | | | | 38,891 | |
| American Electric Power Co., Inc. (Electric Utilities) | | | 1,837 | | | | 191,452 | |
| American Express Co. (Consumer Finance) | | | 2,495 | | | | 324,025 | |
| American International Group, Inc. (Insurance) | | | 3,236 | | | | 162,641 | |
| American Tower Corp. (Equity Real Estate Investment Trusts) | | | 1,647 | | | | 381,676 | |
| American Water Works Co., Inc. (Water Utilities) | | | 672 | | | | 91,526 | |
| Ameriprise Financial, Inc. (Capital Markets) | | | 471 | | | | 77,908 | |
| AmerisourceBergen Corp. (Health Care Providers & Services) | | | 559 | | | | 47,828 | |
| AMETEK, Inc. (Electrical Equipment) | | | 851 | | | | 82,675 | |
| Amgen, Inc. (Biotechnology) | | | 2,210 | | | | 477,470 | |
| Amphenol Corp. - Class A (Electronic Equipment, Instruments & Components) | | | 1,102 | | | | 109,616 | |
| Analog Devices, Inc. (Semiconductors & Semiconductor Equipment) | | | 1,370 | | | | 150,358 | |
| ANSYS, Inc.* (Software) | | | 318 | | | | 87,237 | |
| Anthem, Inc. (Health Care Providers & Services) | | | 943 | | | | 250,159 | |
| Aon PLC (Insurance) | | | 871 | | | | 191,838 | |
| Apache Corp. (Oil, Gas & Consumable Fuels) | | | 1,398 | | | | 38,361 | |
| Apartment Investment & Management Co. (Equity Real Estate Investment Trusts) | | | 554 | | | | 29,201 | |
| Apple, Inc. (Technology Hardware, Storage & Peripherals) | | | 15,531 | | | | 4,807,000 | |
| Applied Materials, Inc. (Semiconductors & Semiconductor Equipment) | | | 3,435 | | | | 199,196 | |
| Aptiv PLC (Auto Components) | | | 949 | | | | 80,465 | |
| Archer-Daniels-Midland Co. (Food Products) | | | 2,070 | | | | 92,653 | |
| Arconic, Inc. (Aerospace & Defense) | | | 1,440 | | | | 43,128 | |
| Arista Networks, Inc.* (Communications Equipment) | | | 202 | | | | 45,115 | |
| Arthur J. Gallagher & Co. (Insurance) | | | 694 | | | | 71,184 | |
| Assurant, Inc. (Insurance) | | | 224 | | | | 29,245 | |
| AT&T, Inc. (Diversified Telecommunication Services) | | | 27,165 | | | | 1,021,947 | |
| Atmos Energy Corp. (Gas Utilities) | | | 444 | | | | 51,961 | |
| Autodesk, Inc.* (Software) | | | 818 | | | | 161,023 | |
| Automatic Data Processing, Inc. (IT Services) | | | 1,610 | | | | 275,938 | |
| AutoZone, Inc.* (Specialty Retail) | | | 89 | | | | 94,158 | |
| AvalonBay Communities, Inc. (Equity Real Estate Investment Trusts) | | | 520 | | | | 112,679 | |
| Avery Dennison Corp. (Containers & Packaging) | | | 310 | | | | 40,684 | |
| Baker Hughes Co. - Class A (Energy Equipment & Services) | | | 2,415 | | | | 52,309 | |
| Ball Corp. (Containers & Packaging) | | | 1,216 | | | | 87,771 | |
| Bank of America Corp. (Banks) | | | 30,103 | | | | 988,282 | |
| Baxter International, Inc. (Health Care Equipment & Supplies) | | | 1,898 | | | | 169,340 | |
| Becton, Dickinson & Co. (Health Care Equipment & Supplies) | | | 1,006 | | | | 276,831 | |
| Berkshire Hathaway, Inc.* - Class B (Diversified Financial Services) | | | 7,274 | | | | 1,632,504 | |
| Best Buy Co., Inc. (Specialty Retail) | | | 847 | | | | 71,732 | |
| Biogen, Inc.* (Biotechnology) | | | 671 | | | | 180,398 | |
| BlackRock, Inc. - Class A (Capital Markets) | | | 439 | | | | 231,507 | |
| Booking Holdings, Inc.* (Internet & Direct Marketing Retail) | | | 156 | | | | 285,566 | |
| BorgWarner, Inc. (Auto Components) | | | 768 | | | | 26,335 | |
| Boston Properties, Inc. (Equity Real Estate Investment Trusts) | | | 535 | | | | 76,692 | |
| Boston Scientific Corp.* (Health Care Equipment & Supplies) | | | 5,183 | | | | 217,012 | |
| Bristol-Myers Squibb Co. (Pharmaceuticals) | | | 8,718 | | | | 548,798 | |
| Broadcom, Inc. (Semiconductors & Semiconductor Equipment) | | | 1,474 | | | | 449,806 | |
| Broadridge Financial Solutions, Inc. (IT Services) | | | 427 | | | | 50,877 | |
UltraBull ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Brown-Forman Corp. - Class B (Beverages) | | | 677 | | | $ | 45,792 | |
| C.H. Robinson Worldwide, Inc. (Air Freight & Logistics) | | | 503 | | | | 36,327 | |
| Cabot Oil & Gas Corp. (Oil, Gas & Consumable Fuels) | | | 1,514 | | | | 21,332 | |
| Cadence Design Systems, Inc.* (Software) | | | 1,044 | | | | 75,283 | |
| Campbell Soup Co. (Food Products) | | | 628 | | | | 30,389 | |
| Capital One Financial Corp. (Consumer Finance) | | | 1,733 | | | | 172,953 | |
| Capri Holdings, Ltd.* (Textiles, Apparel & Luxury Goods) | | | 565 | | | | 16,927 | |
| Cardinal Health, Inc. (Health Care Providers & Services) | | | 1,088 | | | | 55,716 | |
| CarMax, Inc.* (Specialty Retail) | | | 612 | | | | 59,388 | |
| Carnival Corp. - Class A (Hotels, Restaurants & Leisure) | | | 1,489 | | | | 64,816 | |
| Caterpillar, Inc. (Machinery) | | | 2,055 | | | | 269,925 | |
| CBOE Global Markets, Inc. (Capital Markets) | | | 412 | | | | 50,767 | |
| CBRE Group, Inc.* - Class A (Real Estate Management & Development) | | | 1,245 | | | | 76,007 | |
| CDW Corp. (Electronic Equipment, Instruments & Components) | | | 533 | | | | 69,530 | |
| Celanese Corp. (Chemicals) | | | 450 | | | | 46,575 | |
| Centene Corp.* (Health Care Providers & Services) | | | 2,169 | | | | 136,239 | |
| CenterPoint Energy, Inc. (Multi-Utilities) | | | 1,868 | | | | 49,465 | |
| CenturyLink, Inc. (Diversified Telecommunication Services) | | | 3,646 | | | | 49,804 | |
| Cerner Corp. (Health Care Technology) | | | 1,167 | | | | 83,826 | |
| CF Industries Holdings, Inc. (Chemicals) | | | 808 | | | | 32,546 | |
| Charter Communications, Inc.* - Class A (Media) | | | 582 | | | | 301,162 | |
| Chevron Corp. (Oil, Gas & Consumable Fuels) | | | 7,032 | | | | 753,409 | |
| Chipotle Mexican Grill, Inc.* (Hotels, Restaurants & Leisure) | | | 96 | | | | 83,209 | |
| Chubb, Ltd. (Insurance) | | | 1,686 | | | | 256,255 | |
| Church & Dwight Co., Inc. (Household Products) | | | 911 | | | | 67,614 | |
| Cigna Corp. (Health Care Providers & Services) | | | 1,389 | | | | 267,216 | |
| Cimarex Energy Co. (Oil, Gas & Consumable Fuels) | | | 379 | | | | 16,634 | |
| Cincinnati Financial Corp. (Insurance) | | | 565 | | | | 59,297 | |
| Cintas Corp. (Commercial Services & Supplies) | | | 312 | | | | 87,039 | |
| Cisco Systems, Inc. (Communications Equipment) | | | 15,775 | | | | 725,177 | |
| Citigroup, Inc. (Banks) | | | 8,118 | | | | 604,060 | |
| Citizens Financial Group, Inc. (Banks) | | | 1,616 | | | | 60,244 | |
| Citrix Systems, Inc. (Software) | | | 455 | | | | 55,155 | |
| CME Group, Inc. (Capital Markets) | | | 1,334 | | | | 289,624 | |
| CMS Energy Corp. (Multi-Utilities) | | | 1,055 | | | | 72,278 | |
| Cognizant Technology Solutions Corp. (IT Services) | | | 2,036 | | | | 124,970 | |
| Colgate-Palmolive Co. (Household Products) | | | 3,187 | | | | 235,137 | |
| Comcast Corp. - Class A (Media) | | | 16,881 | | | | 729,090 | |
| Comerica, Inc. (Banks) | | | 536 | | | | 32,782 | |
| Conagra Brands, Inc. (Food Products) | | | 1,810 | | | | 59,585 | |
| Concho Resources, Inc. (Oil, Gas & Consumable Fuels) | | | 748 | | | | 56,683 | |
| ConocoPhillips (Oil, Gas & Consumable Fuels) | | | 4,080 | | | | 242,475 | |
| Consolidated Edison, Inc. (Multi-Utilities) | | | 1,236 | | | | 116,184 | |
| Constellation Brands, Inc. - Class A (Beverages) | | | 622 | | | | 117,123 | |
| Copart, Inc.* (Commercial Services & Supplies) | | | 761 | | | | 77,211 | |
| Corning, Inc. (Electronic Equipment, Instruments & Components) | | | 2,859 | | | | 76,307 | |
| Corteva, Inc. (Chemicals) | | | 2,781 | | | | 80,427 | |
| Costco Wholesale Corp. (Food & Staples Retailing) | | | 1,643 | | | | 501,969 | |
| Coty, Inc. - Class A (Personal Products) | | | 1,095 | | | | 11,235 | |
| Crown Castle International Corp. (Equity Real Estate Investment Trusts) | | | 1,545 | | | | 231,503 | |
| CSX Corp. (Road & Rail) | | | 2,892 | | | | 220,775 | |
| Cummins, Inc. (Machinery) | | | 570 | | | | 91,183 | |
| CVS Health Corp. (Health Care Providers & Services) | | | 4,838 | | | | 328,113 | |
| D.R. Horton, Inc. (Household Durables) | | | 1,247 | | | | 73,822 | |
| Danaher Corp. (Health Care Equipment & Supplies) | | | 2,377 | | | | 382,388 | |
| Darden Restaurants, Inc. (Hotels, Restaurants & Leisure) | | | 456 | | | | 53,092 | |
| DaVita, Inc.* (Health Care Providers & Services) | | | 334 | | | | 26,677 | |
| Deere & Co. (Machinery) | | | 1,172 | | | | 185,856 | |
| Delta Air Lines, Inc. (Airlines) | | | 2,140 | | | | 119,284 | |
| DENTSPLY SIRONA, Inc. (Health Care Equipment & Supplies) | | | 827 | | | | 46,312 | |
| Devon Energy Corp. (Oil, Gas & Consumable Fuels) | | | 1,438 | | | | 31,233 | |
| Diamondback Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 600 | | | | 44,640 | |
| Digital Realty Trust, Inc. (Equity Real Estate Investment Trusts) | | | 777 | | | | 95,563 | |
| Discover Financial Services (Consumer Finance) | | | 1,166 | | | | 87,602 | |
| Discovery, Inc.* (Media) | | | 587 | | | | 17,176 | |
| Discovery, Inc.* - Class C (Media) | | | 1,247 | | | | 34,629 | |
| Dish Network Corp.* - Class A (Media) | | | 947 | | | | 34,812 | |
| Dollar General Corp. (Multiline Retail) | | | 946 | | | | 145,126 | |
| Dollar Tree, Inc.* (Multiline Retail) | | | 880 | | | | 76,622 | |
| Dominion Energy, Inc. (Multi-Utilities) | | | 3,060 | | | | 262,394 | |
| Dover Corp. (Machinery) | | | 540 | | | | 61,479 | |
| Dow, Inc. (Chemicals) | | | 2,757 | | | | 127,015 | |
| DTE Energy Co. (Multi-Utilities) | | | 714 | | | | 94,684 | |
| Duke Energy Corp. (Electric Utilities) | | | 2,712 | | | | 264,773 | |
| Duke Realty Corp. (Equity Real Estate Investment Trusts) | | | 1,367 | | | | 49,636 | |
| DuPont de Nemours, Inc. (Chemicals) | | | 2,755 | | | | 141,001 | |
| DXC Technology Co. (IT Services) | | | 951 | | | | 30,318 | |
| E*TRADE Financial Corp. (Capital Markets) | | | 840 | | | | 35,801 | |
| Eastman Chemical Co. (Chemicals) | | | 506 | | | | 36,063 | |
| Eaton Corp. PLC (Electrical Equipment) | | | 1,537 | | | | 145,200 | |
UltraBull ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| eBay, Inc. (Internet & Direct Marketing Retail) | | | 2,844 | | | $ | 95,445 | |
| Ecolab, Inc. (Chemicals) | | | 932 | | | | 182,775 | |
| Edison International (Electric Utilities) | | | 1,335 | | | | 102,194 | |
| Edwards Lifesciences Corp.* (Health Care Equipment & Supplies) | | | 776 | | | | 170,611 | |
| Electronic Arts, Inc.* (Entertainment) | | | 1,086 | | | | 117,201 | |
| Eli Lilly & Co. (Pharmaceuticals) | | | 3,142 | | | | 438,749 | |
| Emerson Electric Co. (Electrical Equipment) | | | 2,264 | | | | 162,170 | |
| Entergy Corp. (Electric Utilities) | | | 740 | | | | 97,325 | |
| EOG Resources, Inc. (Oil, Gas & Consumable Fuels) | | | 2,163 | | | | 157,704 | |
| Equifax, Inc. (Professional Services) | | | 451 | | | | 67,605 | |
| Equinix, Inc. (Equity Real Estate Investment Trusts) | | | 317 | | | | 186,944 | |
| Equity Residential (Equity Real Estate Investment Trusts) | | | 1,299 | | | | 107,921 | |
| Essex Property Trust, Inc. (Equity Real Estate Investment Trusts) | | | 247 | | | | 76,511 | |
| Everest Re Group, Ltd. (Insurance) | | | 151 | | | | 41,762 | |
| Evergy, Inc. (Electric Utilities) | | | 848 | | | | 61,192 | |
| Eversource Energy (Electric Utilities) | | | 1,204 | | | | 111,298 | |
| Exelon Corp. (Electric Utilities) | | | 3,615 | | | | 172,038 | |
| Expedia Group, Inc. (Internet & Direct Marketing Retail) | | | 520 | | | | 56,394 | |
| Expeditors International of Washington, Inc. (Air Freight & Logistics) | | | 633 | | | | 46,234 | |
| Extra Space Storage, Inc. (Equity Real Estate Investment Trusts) | | | 482 | | | | 53,348 | |
| Exxon Mobil Corp. (Oil, Gas & Consumable Fuels) | | | 15,734 | | | | 977,397 | |
| F5 Networks, Inc.* (Communications Equipment) | | | 225 | | | | 27,477 | |
| Facebook, Inc.* - Class A (Interactive Media & Services) | | | 8,949 | | | | 1,806,893 | |
| Fastenal Co. (Trading Companies & Distributors) | | | 2,131 | | | | 74,329 | |
| Federal Realty Investment Trust (Equity Real Estate Investment Trusts) | | | 260 | | | | 32,505 | |
| FedEx Corp. (Air Freight & Logistics) | | | 893 | | | | 129,164 | |
| Fidelity National Information Services, Inc. (IT Services) | | | 2,286 | | | | 328,407 | |
| Fifth Third Bancorp (Banks) | | | 2,638 | | | | 75,051 | |
| First Horizon National Corp. (Banks) | | | – | † | | | 4 | |
| First Republic Bank (Banks) | | | 627 | | | | 69,522 | |
| FirstEnergy Corp. (Electric Utilities) | | | 2,010 | | | | 102,088 | |
| Fiserv, Inc.* (IT Services) | | | 2,124 | | | | 251,928 | |
| FleetCor Technologies, Inc.* (IT Services) | | | 323 | | | | 101,819 | |
| FLIR Systems, Inc. (Electronic Equipment, Instruments & Components) | | | 498 | | | | 25,667 | |
| Flowserve Corp. (Machinery) | | | 487 | | | | 22,733 | |
| FMC Corp. (Chemicals) | | | 483 | | | | 46,170 | |
| Ford Motor Co. (Automobiles) | | | 14,476 | | | | 127,678 | |
| Fortinet, Inc.* (Software) | | | 528 | | | | 60,910 | |
| Fortive Corp. (Machinery) | | | 1,099 | | | | 82,348 | |
| Fortune Brands Home & Security, Inc. (Building Products) | | | 518 | | | | 35,592 | |
| Fox Corp. - Class A (Media) | | | 1,318 | | | | 48,871 | |
| Fox Corp. - Class B (Media) | | | 603 | | | | 21,907 | |
| Franklin Resources, Inc. (Capital Markets) | | | 1,036 | | | | 26,211 | |
| Freeport-McMoRan, Inc. (Metals & Mining) | | | 5,392 | | | | 59,851 | |
| Garmin, Ltd. (Household Durables) | | | 538 | | | | 52,159 | |
| Gartner, Inc.* (IT Services) | | | 333 | | | | 53,540 | |
| General Dynamics Corp. (Aerospace & Defense) | | | 871 | | | | 152,808 | |
| General Electric Co. (Industrial Conglomerates) | | | 32,473 | | | | 404,289 | |
| General Mills, Inc. (Food Products) | | | 2,248 | | | | 117,391 | |
| General Motors Co. (Automobiles) | | | 4,675 | | | | 156,099 | |
| Genuine Parts Co. (Distributors) | | | 540 | | | | 50,528 | |
| Gilead Sciences, Inc. (Biotechnology) | | | 4,706 | | | | 297,419 | |
| Global Payments, Inc. (IT Services) | | | 1,118 | | | | 218,513 | |
| Globe Life, Inc. (Insurance) | | | 371 | | | | 38,680 | |
| H&R Block, Inc. (Diversified Consumer Services) | | | 724 | | | | 16,797 | |
| Halliburton Co. (Energy Equipment & Services) | | | 3,263 | | | | 71,166 | |
| Hanesbrands, Inc. (Textiles, Apparel & Luxury Goods) | | | 1,342 | | | | 18,466 | |
| Harley-Davidson, Inc. (Automobiles) | | | 573 | | | | 19,138 | |
| Hartford Financial Services Group, Inc. (Insurance) | | | 1,340 | | | | 79,435 | |
| Hasbro, Inc. (Leisure Products) | | | 473 | | | | 48,185 | |
| HCA Healthcare, Inc. (Health Care Providers & Services) | | | 983 | | | | 136,440 | |
| Healthpeak Properties, Inc. (Equity Real Estate Investment Trusts) | | | 1,839 | | | | 66,186 | |
| Helmerich & Payne, Inc. (Energy Equipment & Services) | | | 403 | | | | 16,342 | |
| Henry Schein, Inc.* (Health Care Providers & Services) | | | 545 | | | | 37,572 | |
| Hess Corp. (Oil, Gas & Consumable Fuels) | | | 963 | | | | 54,477 | |
| Hewlett Packard Enterprises Co. (Technology Hardware, Storage & Peripherals) | | | 4,810 | | | | 67,003 | |
| Hilton Worldwide Holdings, Inc. (Hotels, Restaurants & Leisure) | | | 1,049 | | | | 113,082 | |
| HollyFrontier Corp. (Oil, Gas & Consumable Fuels) | | | 552 | | | | 24,796 | |
| Hologic, Inc.* (Health Care Equipment & Supplies) | | | 997 | | | | 53,359 | |
| Honeywell International, Inc. (Industrial Conglomerates) | | | 2,657 | | | | 460,245 | |
| Hormel Foods Corp. (Food Products) | | | 1,034 | | | | 48,867 | |
| Host Hotels & Resorts, Inc. (Equity Real Estate Investment Trusts) | | | 2,664 | | | | 43,530 | |
| HP, Inc. (Technology Hardware, Storage & Peripherals) | | | 5,508 | | | | 117,431 | |
| Humana, Inc. (Health Care Providers & Services) | | | 493 | | | | 165,766 | |
| Huntington Bancshares, Inc. (Banks) | | | 3,837 | | | | 52,068 | |
| Huntington Ingalls Industries, Inc. (Aerospace & Defense) | | | 152 | | | | 39,672 | |
| IDEX Corp. (Machinery) | | | 283 | | | | 46,370 | |
| IDEXX Laboratories, Inc.* (Health Care Equipment & Supplies) | | | 319 | | | | 86,452 | |
| IHS Markit, Ltd.* (Professional Services) | | | 1,491 | | | | 117,580 | |
| Illinois Tool Works, Inc. (Machinery) | | | 1,088 | | | | 190,379 | |
UltraBull ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Illumina, Inc.* (Life Sciences Tools & Services) | | | 546 | | | $ | 158,378 | |
| Incyte Corp.* (Biotechnology) | | | 665 | | | | 48,592 | |
| Ingersoll-Rand PLC (Machinery) | | | 891 | | | | 118,708 | |
| Intel Corp. (Semiconductors & Semiconductor Equipment) | | | 16,177 | | | | 1,034,195 | |
| Intercontinental Exchange, Inc. (Capital Markets) | | | 2,070 | | | | 206,462 | |
| International Business Machines Corp. (IT Services) | | | 3,293 | | | | 473,303 | |
| International Flavors & Fragrances, Inc.(a) (Chemicals) | | | 397 | | | | 52,051 | |
| International Paper Co. (Containers & Packaging) | | | 1,458 | | | | 59,370 | |
| Intuit, Inc. (Software) | | | 969 | | | | 271,688 | |
| Intuitive Surgical, Inc.* (Health Care Equipment & Supplies) | | | 430 | | | | 240,705 | |
| Invesco, Ltd. (Capital Markets) | | | 1,382 | | | | 23,909 | |
| IPG Photonics Corp.* (Electronic Equipment, Instruments & Components) | | | 132 | | | | 16,852 | |
| IQVIA Holdings, Inc.* (Life Sciences Tools & Services) | | | 671 | | | | 104,173 | |
| Iron Mountain, Inc. (Equity Real Estate Investment Trusts) | | | 1,068 | | | | 33,759 | |
| J.B. Hunt Transport Services, Inc. (Road & Rail) | | | 317 | | | | 34,214 | |
| Jack Henry & Associates, Inc. (IT Services) | | | 287 | | | | 42,918 | |
| Jacobs Engineering Group, Inc. (Construction & Engineering) | | | 504 | | | | 46,635 | |
| Johnson & Johnson (Pharmaceuticals) | | | 9,786 | | | | 1,456,843 | |
| Johnson Controls International PLC (Building Products) | | | 2,868 | | | | 113,143 | |
| JPMorgan Chase & Co. (Banks) | | | 11,665 | | | | 1,543,980 | |
| Juniper Networks, Inc. (Communications Equipment) | | | 1,243 | | | | 28,514 | |
| Kansas City Southern Industries, Inc. (Road & Rail) | | | 369 | | | | 62,247 | |
| Kellogg Co. (Food Products) | | | 926 | | | | 63,162 | |
| KeyCorp (Banks) | | | 3,660 | | | | 68,479 | |
| Keysight Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | | 697 | | | | 64,814 | |
| Kimberly-Clark Corp. (Household Products) | | | 1,274 | | | | 182,488 | |
| Kimco Realty Corp. (Equity Real Estate Investment Trusts) | | | 1,568 | | | | 29,870 | |
| Kinder Morgan, Inc. (Oil, Gas & Consumable Fuels) | | | 7,242 | | | | 151,141 | |
| KLA Corp. (Semiconductors & Semiconductor Equipment) | | | 586 | | | | 97,124 | |
| Kohl's Corp. (Multiline Retail) | | | 581 | | | | 24,838 | |
| L Brands, Inc. (Specialty Retail) | | | 861 | | | | 19,941 | |
| L3Harris Technologies, Inc. (Aerospace & Defense) | | | 821 | | | | 181,712 | |
| Laboratory Corp. of America Holdings* (Health Care Providers & Services) | | | 361 | | | | 63,319 | |
| Lam Research Corp. (Semiconductors & Semiconductor Equipment) | | | 539 | | | | 160,735 | |
| Lamb Weston Holding, Inc. (Food Products) | | | 544 | | | | 49,673 | |
| Las Vegas Sands Corp. (Hotels, Restaurants & Leisure) | | | 1,255 | | | | 81,964 | |
| Leggett & Platt, Inc. (Household Durables) | | | 489 | | | | 23,272 | |
| Leidos Holdings, Inc. (IT Services) | | | 495 | | | | 49,733 | |
| Lennar Corp. - Class A (Household Durables) | | | 1,040 | | | | 69,014 | |
| Lincoln National Corp. (Insurance) | | | 738 | | | | 40,206 | |
| Linde PLC (Chemicals) | | | 1,998 | | | | 405,853 | |
| Live Nation Entertainment, Inc.* (Entertainment) | | | 524 | | | | 35,716 | |
| LKQ Corp.* (Distributors) | | | 1,139 | | | | 37,228 | |
| Lockheed Martin Corp. (Aerospace & Defense) | | | 923 | | | | 395,155 | |
| Loews Corp. (Insurance) | | | 950 | | | | 48,878 | |
| Lowe's Cos., Inc. (Specialty Retail) | | | 2,849 | | | | 331,168 | |
| LyondellBasell Industries N.V. - Class A (Chemicals) | | | 955 | | | | 74,356 | |
| M&T Bank Corp. (Banks) | | | 491 | | | | 82,743 | |
| Macy's, Inc. (Multiline Retail) | | | 1,146 | | | | 18,279 | |
| Marathon Oil Corp. (Oil, Gas & Consumable Fuels) | | | 2,971 | | | | 33,780 | |
| Marathon Petroleum Corp. (Oil, Gas & Consumable Fuels) | | | 2,414 | | | | 131,563 | |
| MarketAxess Holdings, Inc. (Capital Markets) | | | 141 | | | | 49,939 | |
| Marriott International, Inc. - Class A (Hotels, Restaurants & Leisure) | | | 1,010 | | | | 141,392 | |
| Marsh & McLennan Cos., Inc. (Insurance) | | | 1,876 | | | | 209,849 | |
| Martin Marietta Materials, Inc. (Construction Materials) | | | 232 | | | | 61,202 | |
| Masco Corp. (Building Products) | | | 1,056 | | | | 50,181 | |
| MasterCard, Inc. - Class A (IT Services) | | | 3,301 | | | | 1,042,917 | |
| Maxim Integrated Products, Inc. (Semiconductors & Semiconductor Equipment) | | | 1,006 | | | | 60,481 | |
| McCormick & Co., Inc. (Food Products) | | | 458 | | | | 74,823 | |
| McDonald's Corp. (Hotels, Restaurants & Leisure) | | | 2,802 | | | | 599,544 | |
| McKesson Corp. (Health Care Providers & Services) | | | 670 | | | | 95,549 | |
| Medtronic PLC (Health Care Equipment & Supplies) | | | 4,984 | | | | 575,353 | |
| Merck & Co., Inc. (Pharmaceuticals) | | | 9,467 | | | | 808,860 | |
| MetLife, Inc. (Insurance) | | | 2,906 | | | | 144,457 | |
| Mettler-Toledo International, Inc.* (Life Sciences Tools & Services) | | | 90 | | | | 68,146 | |
| MGM Resorts International (Hotels, Restaurants & Leisure) | | | 1,914 | | | | 59,449 | |
| Microchip Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 888 | | | | 86,562 | |
| Micron Technology, Inc.* (Semiconductors & Semiconductor Equipment) | | | 4,116 | | | | 218,518 | |
| Microsoft Corp. (Software) | | | 28,369 | | | | 4,829,256 | |
| Mid-America Apartment Communities, Inc. (Equity Real Estate Investment Trusts) | | | 423 | | | | 58,040 | |
| Mohawk Industries, Inc.* (Household Durables) | | | 221 | | | | 29,101 | |
| Molson Coors Beverage Co. - Class B (Beverages) | | | 699 | | | | 38,850 | |
UltraBull ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Mondelez International, Inc. - Class A (Food Products) | | | 5,355 | | | $ | 307,270 | |
| Monster Beverage Corp.* (Beverages) | | | 1,419 | | | | 94,505 | |
| Moody's Corp. (Capital Markets) | | | 603 | | | | 154,844 | |
| Morgan Stanley (Capital Markets) | | | 4,575 | | | | 239,090 | |
| Motorola Solutions, Inc. (Communications Equipment) | | | 637 | | | | 112,749 | |
| MSCI, Inc. - Class A (Capital Markets) | | | 315 | | | | 90,027 | |
| Mylan N.V.* (Pharmaceuticals) | | | 1,916 | | | | 41,041 | |
| Nasdaq, Inc. (Capital Markets) | | | 427 | | | | 49,728 | |
| National Oilwell Varco, Inc. (Energy Equipment & Services) | | | 1,434 | | | | 29,555 | |
| NetApp, Inc. (Technology Hardware, Storage & Peripherals) | | | 849 | | | | 45,337 | |
| Netflix, Inc.* (Entertainment) | | | 1,630 | | | | 562,497 | |
| Newell Brands, Inc. (Household Durables) | | | 1,414 | | | | 27,615 | |
| Newmont Corp. (Metals & Mining) | | | 3,047 | | | | 137,298 | |
| News Corp. - Class A (Media) | | | 1,441 | | | | 19,626 | |
| News Corp. - Class B (Media) | | | 450 | | | | 6,287 | |
| NextEra Energy, Inc. (Electric Utilities) | | | 1,817 | | | | 487,319 | |
| Nielsen Holdings PLC (Professional Services) | | | 1,320 | | | | 26,928 | |
| NIKE, Inc. - Class B (Textiles, Apparel & Luxury Goods) | | | 4,634 | | | | 446,255 | |
| NiSource, Inc. (Multi-Utilities) | | | 1,389 | | | | 40,712 | |
| Noble Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 1,778 | | | | 35,151 | |
| Nordstrom, Inc. (Multiline Retail) | | | 398 | | | | 14,670 | |
| Norfolk Southern Corp. (Road & Rail) | | | 970 | | | | 201,964 | |
| Northern Trust Corp. (Capital Markets) | | | 787 | | | | 76,976 | |
| Northrop Grumman Corp. (Aerospace & Defense) | | | 582 | | | | 218,000 | |
| NortonLifelock, Inc. (Software) | | | 2,131 | | | | 60,563 | |
| Norwegian Cruise Line Holdings, Ltd.* (Hotels, Restaurants & Leisure) | | | 791 | | | | 42,595 | |
| NRG Energy, Inc. (Independent Power and Renewable Electricity Producers) | | | 935 | | | | 34,492 | |
| Nucor Corp. (Metals & Mining) | | | 1,128 | | | | 53,569 | |
| NVIDIA Corp. (Semiconductors & Semiconductor Equipment) | | | 2,276 | | | | 538,115 | |
| NVR, Inc.* (Household Durables) | | | 14 | | | | 53,438 | |
| Occidental Petroleum Corp. (Oil, Gas & Consumable Fuels) | | | 3,321 | | | | 131,910 | |
| Old Dominion Freight Line, Inc. (Road & Rail) | | | 237 | | | | 46,507 | |
| Omnicom Group, Inc. (Media) | | | 810 | | | | 61,001 | |
| ONEOK, Inc. (Oil, Gas & Consumable Fuels) | | | 1,535 | | | | 114,925 | |
| Oracle Corp. (Software) | | | 8,056 | | | | 422,537 | |
| O'Reilly Automotive, Inc.* (Specialty Retail) | | | 281 | | | | 114,114 | |
| PACCAR, Inc. (Machinery) | | | 1,287 | | | | 95,508 | |
| Packaging Corp. of America (Containers & Packaging) | | | 351 | | �� | | 33,608 | |
| Parker-Hannifin Corp. (Machinery) | | | 477 | | | | 93,344 | |
| Paychex, Inc. (IT Services) | | | 1,185 | | | | 101,637 | |
| Paycom Software, Inc.* (Software) | | | 182 | | | | 57,905 | |
| PayPal Holdings, Inc.* (IT Services) | | | 4,366 | | | | 497,244 | |
| Pentair PLC (Machinery) | | | 625 | | | | 26,831 | |
| People's United Financial, Inc. (Banks) | | | 1,648 | | | | 25,412 | |
| PepsiCo, Inc. (Beverages) | | | 5,185 | | | | 736,374 | |
| PerkinElmer, Inc. (Life Sciences Tools & Services) | | | 413 | | | | 38,194 | |
| Perrigo Co. PLC (Pharmaceuticals) | | | 506 | | | | 28,862 | |
| Pfizer, Inc. (Pharmaceuticals) | | | 20,578 | | | | 766,325 | |
| Philip Morris International, Inc. (Tobacco) | | | 5,785 | | | | 478,420 | |
| Phillips 66 (Oil, Gas & Consumable Fuels) | | | 1,653 | | | | 151,035 | |
| Pinnacle West Capital Corp. (Electric Utilities) | | | 418 | | | | 40,834 | |
| Pioneer Natural Resources Co. (Oil, Gas & Consumable Fuels) | | | 616 | | | | 83,160 | |
| PPG Industries, Inc. (Chemicals) | | | 880 | | | | 105,459 | |
| PPL Corp. (Electric Utilities) | | | 2,688 | | | | 97,279 | |
| Principal Financial Group, Inc. (Insurance) | | | 960 | | | | 50,832 | |
| Prologis, Inc. (Equity Real Estate Investment Trusts) | | | 2,349 | | | | 218,175 | |
| Prudential Financial, Inc. (Insurance) | | | 1,495 | | | | 136,135 | |
| Public Service Enterprise Group, Inc. (Multi-Utilities) | | | 1,881 | | | | 111,355 | |
| Public Storage (Equity Real Estate Investment Trusts) | | | 559 | | | | 125,082 | |
| PulteGroup, Inc. (Household Durables) | | | 947 | | | | 42,284 | |
| PVH Corp. (Textiles, Apparel & Luxury Goods) | | | 276 | | | | 24,059 | |
| Qorvo, Inc.* (Semiconductors & Semiconductor Equipment) | | | 431 | | | | 45,626 | |
| Qualcomm, Inc. (Semiconductors & Semiconductor Equipment) | | | 4,246 | | | | 362,226 | |
| Quanta Services, Inc. (Construction & Engineering) | | | 529 | | | | 20,710 | |
| Quest Diagnostics, Inc. (Health Care Providers & Services) | | | 500 | | | | 55,335 | |
| Ralph Lauren Corp. (Textiles, Apparel & Luxury Goods) | | | 184 | | | | 20,884 | |
| Raymond James Financial, Inc. (Capital Markets) | | | 458 | | | | 41,875 | |
| Raytheon Co. (Aerospace & Defense) | | | 1,035 | | | | 228,673 | |
| Realty Income Corp. (Equity Real Estate Investment Trusts) | | | 1,212 | | | | 95,033 | |
| Regency Centers Corp. (Equity Real Estate Investment Trusts) | | | 623 | | | | 38,651 | |
| Regeneron Pharmaceuticals, Inc.* (Biotechnology) | | | 297 | | | | 100,368 | |
| Regions Financial Corp. (Banks) | | | 3,585 | | | | 55,818 | |
| Republic Services, Inc. - Class A (Commercial Services & Supplies) | | | 783 | | | | 74,424 | |
| ResMed, Inc. (Health Care Equipment & Supplies) | | | 535 | | | | 85,049 | |
| Robert Half International, Inc. (Professional Services) | | | 437 | | | | 25,420 | |
| Rockwell Automation, Inc. (Electrical Equipment) | | | 430 | | | | 82,414 | |
| Rollins, Inc. (Commercial Services & Supplies) | | | 523 | | | | 19,848 | |
| Roper Technologies, Inc. (Industrial Conglomerates) | | | 386 | | | | 147,321 | |
| Ross Stores, Inc. (Specialty Retail) | | | 1,345 | | | | 150,896 | |
| Royal Caribbean Cruises, Ltd. (Hotels, Restaurants & Leisure) | | | 638 | | | | 74,697 | |
| S&P Global, Inc. (Capital Markets) | | | 909 | | | | 267,001 | |
UltraBull ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Salesforce.com, Inc.* (Software) | | | 3,298 | | | $ | 601,258 | |
| SBA Communications Corp. (Equity Real Estate Investment Trusts) | | | 418 | | | | 104,316 | |
| Schlumberger, Ltd. (Energy Equipment & Services) | | | 5,148 | | | | 172,509 | |
| Seagate Technology PLC (Technology Hardware, Storage & Peripherals) | | | 859 | | | | 48,954 | |
| Sealed Air Corp. (Containers & Packaging) | | | 575 | | | | 20,413 | |
| Sempra Energy (Multi-Utilities) | | | 1,049 | | | | 168,511 | |
| ServiceNow, Inc.* (Software) | | | 702 | | | | 237,437 | |
| Simon Property Group, Inc. (Equity Real Estate Investment Trusts) | | | 1,141 | | | | 151,924 | |
| Skyworks Solutions, Inc. (Semiconductors & Semiconductor Equipment) | | | 634 | | | | 71,737 | |
| SL Green Realty Corp. (Equity Real Estate Investment Trusts) | | | 303 | | | | 27,888 | |
| Snap-on, Inc. (Machinery) | | | 203 | | | | 32,405 | |
| Southwest Airlines Co. (Airlines) | | | 1,761 | | | | 96,820 | |
| Stanley Black & Decker, Inc. (Machinery) | | | 565 | | | | 90,021 | |
| Starbucks Corp. (Hotels, Restaurants & Leisure) | | | 4,391 | | | | 372,489 | |
| State Street Corp. (Capital Markets) | | | 1,352 | | | | 102,252 | |
| STERIS PLC (Health Care Equipment & Supplies) | | | 315 | | | | 47,467 | |
| Stryker Corp. (Health Care Equipment & Supplies) | | | 1,197 | | | | 252,208 | |
| SVB Financial Group* (Banks) | | | 192 | | | | 46,143 | |
| Synchrony Financial (Consumer Finance) | | | 2,211 | | | | 71,659 | |
| Synopsys, Inc.* (Software) | | | 559 | | | | 82,458 | |
| Sysco Corp. (Food & Staples Retailing) | | | 1,897 | | | | 155,820 | |
| T. Rowe Price Group, Inc. (Capital Markets) | | | 869 | | | | 116,038 | |
| Take-Two Interactive Software, Inc.* (Entertainment) | | | 420 | | | | 52,349 | |
| Tapestry, Inc. (Textiles, Apparel & Luxury Goods) | | | 1,024 | | | | 26,388 | |
| Target Corp. (Multiline Retail) | | | 1,885 | | | | 208,744 | |
| TE Connectivity, Ltd. (Electronic Equipment, Instruments & Components) | | | 1,244 | | | | 114,672 | |
| TechnipFMC PLC (Energy Equipment & Services) | | | 1,559 | | | | 25,739 | |
| Teleflex, Inc. (Health Care Equipment & Supplies) | | | 172 | | | | 63,900 | |
| Texas Instruments, Inc. (Semiconductors & Semiconductor Equipment) | | | 3,476 | | | | 419,379 | |
| Textron, Inc. (Aerospace & Defense) | | | 849 | | | | 38,995 | |
| The AES Corp. (Independent Power and Renewable Electricity Producers) | | | 2,466 | | | | 48,975 | |
| The Allstate Corp. (Insurance) | | | 1,205 | | | | 142,841 | |
| The Bank of New York Mellon Corp. (Capital Markets) | | | 3,121 | | | | 139,758 | |
| The Boeing Co. (Aerospace & Defense) | | | 1,989 | | | | 633,038 | |
| The Charles Schwab Corp. (Capital Markets) | | | 4,251 | | | | 193,633 | |
| The Clorox Co. (Household Products) | | | 467 | | | | 73,464 | |
| The Coca-Cola Co. (Beverages) | | | 14,339 | | | | 837,397 | |
| The Cooper Cos., Inc. (Health Care Equipment & Supplies) | | | 184 | | | | 63,828 | |
| The Estee Lauder Co., Inc. (Personal Products) | | | 827 | | | | 161,397 | |
| The Gap, Inc. (Specialty Retail) | | | 789 | | | | 13,736 | |
| The Goldman Sachs Group, Inc. (Capital Markets) | | | 1,185 | | | | 281,733 | |
| The Hershey Co. (Food Products) | | | 551 | | | | 85,499 | |
| The Home Depot, Inc. (Specialty Retail) | | | 4,056 | | | | 925,174 | |
| The Interpublic Group of Cos., Inc. (Media) | | | 1,441 | | | | 32,711 | |
| The JM Smucker Co. - Class A (Food Products) | | | 423 | | | | 43,827 | |
| The Kraft Heinz Co. (Food Products) | | | 2,315 | | | | 67,598 | |
| The Kroger Co. (Food & Staples Retailing) | | | 2,981 | | | | 80,070 | |
| The Mosaic Co. (Chemicals) | | | 1,298 | | | | 25,752 | |
| The PNC Financial Services Group, Inc (Banks) | | | 1,630 | | | | 242,137 | |
| The Procter & Gamble Co. (Household Products) | | | 9,273 | | | | 1,155,601 | |
| The Progressive Corp. (Insurance) | | | 2,173 | | | | 175,339 | |
| The Sherwin-Williams Co. (Chemicals) | | | 305 | | | | 169,882 | |
| The Southern Co. (Electric Utilities) | | | 3,899 | | | | 274,490 | |
| The TJX Cos., Inc. (Specialty Retail) | | | 4,510 | | | | 266,270 | |
| The Travelers Cos., Inc. (Insurance) | | | 959 | | | | 126,224 | |
| The Walt Disney Co. (Entertainment) | | | 6,703 | | | | 927,092 | |
| The Western Union Co. (IT Services) | | | 1,558 | | | | 41,910 | |
| The Williams Cos., Inc. (Oil, Gas & Consumable Fuels) | | | 4,506 | | | | 93,229 | |
| Thermo Fisher Scientific, Inc. (Life Sciences Tools & Services) | | | 1,491 | | | | 466,966 | |
| Tiffany & Co. (Specialty Retail) | | | 402 | | | | 53,876 | |
| T-Mobile U.S., Inc.* (Wireless Telecommunication Services) | | | 1,176 | | | | 93,127 | |
| Tractor Supply Co. (Specialty Retail) | | | 440 | | | | 40,898 | |
| TransDigm Group, Inc. (Aerospace & Defense) | | | 184 | | | | 118,364 | |
| Truist Financial Corp. (Banks) | | | 4,986 | | | | 257,128 | |
| Twitter, Inc.* (Interactive Media & Services) | | | 2,886 | | | | 93,737 | |
| Tyson Foods, Inc. - Class A (Food Products) | | | 1,098 | | | | 90,728 | |
| U.S. Bancorp (Banks) | | | 5,285 | | | | 281,268 | |
| UDR, Inc. (Equity Real Estate Investment Trusts) | | | 1,090 | | | | 52,222 | |
| Ulta Beauty, Inc.* (Specialty Retail) | | | 213 | | | | 57,065 | |
| Under Armour, Inc.* - Class A (Textiles, Apparel & Luxury Goods) | | | 698 | | | | 14,086 | |
| Under Armour, Inc.* - Class C (Textiles, Apparel & Luxury Goods) | | | 721 | | | | 12,949 | |
| Union Pacific Corp. (Road & Rail) | | | 2,582 | | | | 463,261 | |
| United Airlines Holdings , Inc.* (Airlines) | | | 809 | | | | 60,513 | |
| United Parcel Service, Inc. - Class B (Air Freight & Logistics) | | | 2,606 | | | | 269,773 | |
| United Rentals, Inc.* (Trading Companies & Distributors) | | | 279 | | | | 37,858 | |
| United Technologies Corp. (Aerospace & Defense) | | | 3,018 | | | | 453,304 | |
| UnitedHealth Group, Inc. (Health Care Providers & Services) | | | 3,524 | | | | 960,114 | |
| Universal Health Services, Inc. - Class B (Health Care Providers & Services) | | | 298 | | | | 40,859 | |
| Unum Group (Insurance) | | | 766 | | | | 20,445 | |
UltraBull ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Valero Energy Corp. (Oil, Gas & Consumable Fuels) | | | 1,527 | | | $ | 128,741 | |
| Varian Medical Systems, Inc.* (Health Care Equipment & Supplies) | | | 338 | | | | 47,513 | |
| Ventas, Inc. (Equity Real Estate Investment Trusts) | | | 1,386 | | | | 80,194 | |
| VeriSign, Inc.* (IT Services) | | | 384 | | | | 79,926 | |
| Verisk Analytics, Inc. - Class A (Professional Services) | | | 610 | | | | 99,107 | |
| Verizon Communications, Inc. (Diversified Telecommunication Services) | | | 15,379 | | | | 914,128 | |
| Vertex Pharmaceuticals, Inc.* (Biotechnology) | | | 957 | | | | 217,287 | |
| VF Corp. (Textiles, Apparel & Luxury Goods) | | | 1,217 | | | | 100,974 | |
| ViacomCBS, Inc. - Class B (Media) | | | 2,010 | | | | 68,601 | |
| Visa, Inc. - Class A (IT Services) | | | 6,366 | | | | 1,266,642 | |
| Vornado Realty Trust (Equity Real Estate Investment Trusts) | | | 590 | | | | 38,804 | |
| Vulcan Materials Co. (Construction Materials) | | | 492 | | | | 69,682 | |
| W.R. Berkley Corp. (Insurance) | | | 539 | | | | 39,633 | |
| W.W. Grainger, Inc. (Trading Companies & Distributors) | | | 163 | | | | 49,335 | |
| Walgreens Boots Alliance, Inc. (Food & Staples Retailing) | | | 2,788 | | | | 141,770 | |
| Walmart, Inc. (Food & Staples Retailing) | | | 5,276 | | | | 604,049 | |
| Waste Management, Inc. (Commercial Services & Supplies) | | | 1,451 | | | | 176,586 | |
| Waters Corp.* (Life Sciences Tools & Services) | | | 240 | | | | 53,710 | |
| WEC Energy Group, Inc. (Multi-Utilities) | | | 1,174 | | | | 117,271 | |
| Wells Fargo & Co. (Banks) | | | 14,312 | | | | 671,805 | |
| Welltower, Inc. (Equity Real Estate Investment Trusts) | | | 1,508 | | | | 128,044 | |
| Western Digital Corp. (Technology Hardware, Storage & Peripherals) | | | 1,106 | | | | 72,443 | |
| Westinghouse Air Brake Technologies Corp. (Machinery) | | | 676 | | | | 49,929 | |
| WestRock Co. (Containers & Packaging) | | | 958 | | | | 37,362 | |
| Weyerhaeuser Co. (Equity Real Estate Investment Trusts) | | | 2,769 | | | | 80,163 | |
| Whirlpool Corp. (Household Durables) | | | 235 | | | | 34,350 | |
| Willis Towers Watson PLC (Insurance) | | | 477 | | | | 100,785 | |
| Wynn Resorts, Ltd. (Hotels, Restaurants & Leisure) | | | 360 | | | | 45,418 | |
| Xcel Energy, Inc. (Electric Utilities) | | | 1,951 | | | | 134,990 | |
| Xerox Holdings Corp. (Technology Hardware, Storage & Peripherals) | | | 692 | | | | 24,614 | |
| Xilinx, Inc. (Semiconductors & Semiconductor Equipment) | | | 935 | | | | 78,989 | |
| Xylem, Inc. (Machinery) | | | 670 | | | | 54,712 | |
| YUM! Brands, Inc. (Hotels, Restaurants & Leisure) | | | 1,125 | | | | 118,991 | |
| Zebra Technologies Corp.* - Class A (Electronic Equipment, Instruments & Components) | | | 201 | | | | 48,043 | |
| Zimmer Biomet Holdings, Inc. (Health Care Equipment & Supplies) | | | 764 | | | | 112,996 | |
| Zions Bancorp (Banks) | | | 634 | | | | 28,841 | |
| Zoetis, Inc. (Pharmaceuticals) | | | 1,771 | | | | 237,686 | |
| TOTAL COMMON STOCKS | | | | | | | | |
| (Cost $52,716,803) | | | | | | | 99,381,936 | |
Repurchase Agreements(b)(c)(36.5%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%-1.51%, dated 1/31/20, due 2/3/20, total to be received $56,800,895 | | $ | 56,794,000 | | | $ | 56,794,000 | |
| TOTAL REPURCHASE AGREEMENTS | | | | | | | | |
| (Cost $56,794,000) | | | | | | | 56,794,000 | |
Collateral for Securities Loaned(NM)
| | | Shares | | | Value | |
| BlackRock Liquidity Funds FedFund Portfolio - Institutional Shares, 1.57%(d) | | | 21,203 | | | $ | 21,203 | |
| Invesco Government & Agency Portfolio - Institutional Shares, 1.58%(d) | | | 6,497 | | | | 6,497 | |
| Fidelity Investments Money Market Government Portfolio - Class I, 1.58%(d) | | | 20,172 | | | | 20,172 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $47,872) | | | | | | | 47,872 | |
| TOTAL INVESTMENT SECURITIES | | | | | | | | |
| (Cost $109,558,675) - 100.3% | | | | | | | 156,223,808 | |
| Net other assets (liabilities) - (0.3)% | | | | | | | (503,468 | ) |
| | | | | | | | | |
| NET ASSETS - 100.0% | | | | | | $ | 155,720,340 | |
| * | Non-income producing security. |
| † | Number of shares is less than 0.50. |
| (a) | All or part of this security was on loan as of January 31, 2020. The total value of securities on loan as of January 31, 2020 was $46,151. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $24,836,000. |
| (c) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (d) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2020. |
UltraBull ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Futures Contracts Purchased
| | | | Number
of
Contracts | | | | Expiration
Date | | | | Notional Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini S&P 500 Futures Contracts | | | 205 | | | | 3/23/20 | | | $ | 33,030,625 | | | $ | 231,777 | |
Total Return Swap Agreements — Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | Notional Amount | | | Value and
Unrealized
Appreciation/ (Depreciation) | |
| S&P 500 | | Goldman Sachs International | | 2/27/20 | | 2.14 | % | $ | 59,633,323 | | | $ | (191,167 | ) |
| SPDR S&P 500 ETF | | Goldman Sachs International | | 2/27/20 | | 2.04 | % | | 34,048,709 | | | | (42,659 | ) |
| | | | | | | | | $ | 93,682,032 | | | $ | (233,826 | ) |
| | | | | | | | | | | | | | | |
| S&P 500 | | UBS AG | | 2/27/20 | | 2.09 | % | $ | 56,429,982 | | | $ | (53,558 | ) |
| SPDR S&P 500 ETF | | UBS AG | | 2/27/20 | | 1.69 | % | | 28,392,763 | | | | 86,410 | |
| | | | | | | | | $ | 84,822,745 | | | $ | 32,852 | |
| | | | | | | Total unrealized appreciation | | | $ | 86,410 | |
| | | | | | | Total unrealized (depreciation) | | | | (287,384 | ) |
| | | | | | | Total net unrealized appreciation/(depreciation) | | | $ | (200,974 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
UltraBull ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
UltraBull ProFund invested in the following industries as of January 31, 2020:
| |
| | | | Value | | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 2,502,848 | | | | 1.6 | % |
| Air Freight & Logistics | | | 481,498 | | | | 0.3 | % |
| Airlines | | | 345,090 | | | | 0.2 | % |
| Auto Components | | | 106,800 | | | | 0.1 | % |
| Automobiles | | | 302,915 | | | | 0.2 | % |
| Banks | | | 5,185,767 | | | | 3.3 | % |
| Beverages | | | 1,870,042 | | | | 1.2 | % |
| Biotechnology | | | 1,848,762 | | | | 1.2 | % |
| Building Products | | | 265,303 | | | | 0.2 | % |
| Capital Markets | | | 2,745,083 | | | | 1.8 | % |
| Chemicals | | | 1,753,139 | | | | 1.1 | % |
| Commercial Services & Supplies | | | 435,108 | | | | 0.3 | % |
| Communications Equipment | | | 939,032 | | | | 0.6 | % |
| Construction & Engineering | | | 67,345 | | | | NM | |
| Construction Materials | | | 130,884 | | | | 0.1 | % |
| Consumer Finance | | | 656,239 | | | | 0.4 | % |
| Containers & Packaging | | | 342,981 | | | | 0.2 | % |
| Distributors | | | 87,756 | | | | 0.1 | % |
| Diversified Consumer Services | | | 16,797 | | | | NM | |
| Diversified Financial Services | | | 1,632,504 | | | | 1.0 | % |
| Diversified Telecommunication Services | | | 1,985,879 | | | | 1.3 | % |
| Electric Utilities | | | 2,190,279 | | | | 1.4 | % |
| Electrical Equipment | | | 472,459 | | | | 0.3 | % |
| Electronic Equipment, Instruments & Components | | | 525,501 | | | | 0.3 | % |
| Energy Equipment & Services | | | 367,620 | | | | 0.2 | % |
| Entertainment | | | 1,861,932 | | | | 1.2 | % |
| Equity Real Estate Investment Trusts | | | 2,876,073 | | | | 1.8 | % |
| Food & Staples Retailing | | | 1,483,678 | | | | 1.0 | % |
| Food Products | | | 1,131,465 | | | | 0.7 | % |
| Gas Utilities | | | 51,961 | | | | NM | |
| Health Care Equipment & Supplies | | | 3,563,764 | | | | 2.3 | % |
| Health Care Providers & Services | | | 2,666,902 | | | | 1.7 | % |
| Health Care Technology | | | 83,826 | | | | 0.1 | % |
| Hotels, Restaurants & Leisure | | | 1,850,738 | | | | 1.2 | % |
| Household Durables | | | 405,055 | | | | 0.3 | % |
| Household Products | | | 1,714,304 | | | | 1.1 | % |
| Independent Power and Renewable Electricity Producers | | | 83,467 | | | | 0.1 | % |
| Industrial Conglomerates | | | 1,351,229 | | | | 0.9 | % |
| Insurance | | | 2,306,696 | | | | 1.5 | % |
| Interactive Media & Services | | | 5,091,609 | | | | 3.3 | % |
| Internet & Direct Marketing Retail | | | 3,548,912 | | | | 2.3 | % |
| IT Services | | | 5,588,769 | | | | 3.6 | % |
| Leisure Products | | | 48,185 | | | | NM | |
| Life Sciences Tools & Services | | | 984,594 | | | | 0.6 | % |
| Machinery | | | 1,511,730 | | | | 1.0 | % |
| Media | | | 1,375,873 | | | | 0.9 | % |
| Metals & Mining | | | 250,718 | | | | 0.2 | % |
| Multiline Retail | | | 488,279 | | | | 0.3 | % |
| Multi-Utilities | | | 1,107,930 | | | | 0.7 | % |
| Oil, Gas & Consumable Fuels | | | 3,473,776 | | | | 2.2 | % |
| Personal Products | | | 172,632 | | | | 0.1 | % |
| Pharmaceuticals | | | 4,555,050 | | | | 2.9 | % |
| Professional Services | | | 336,640 | | | | 0.2 | % |
| Real Estate Management & Development | | | 76,007 | | | | NM | |
| Road & Rail | | | 1,028,968 | | | | 0.7 | % |
| Semiconductors & Semiconductor Equipment | | | 4,167,768 | | | | 2.7 | % |
| Software | | | 7,634,764 | | | | 4.9 | % |
| Specialty Retail | | | 2,232,408 | | | | 1.4 | % |
| Technology Hardware, Storage & Peripherals | | | 5,182,782 | | | | 3.3 | % |
| Textiles, Apparel & Luxury Goods | | | 680,988 | | | | 0.4 | % |
| Tobacco | | | 808,658 | | | | 0.5 | % |
| Trading Companies & Distributors | | | 161,522 | | | | 0.1 | % |
| Water Utilities | | | 91,526 | | | | 0.1 | % |
| Wireless Telecommunication Services | | | 93,127 | | | | 0.1 | % |
| Other ** | | | 56,338,404 | | | | 36.2 | % |
| Total | | $ | 155,720,340 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
| NM | Not meaningful, amount is less than 0.05%. |
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks (49.2%)
| | | Shares | | | Value |
| 1-800-Flowers.com, Inc.* - Class A (Internet & Direct Marketing Retail) | | | 328 | | | $ | 4,982 |
| 1st Source Corp. (Banks) | | | 217 | | | | 10,240 |
| 3D Systems Corp.* (Technology Hardware, Storage & Peripherals) | | | 1,416 | | | | 15,420 |
| 8x8, Inc.* (Software) | | | 1,087 | | | | 20,240 |
| AAON, Inc. (Building Products) | | | 545 | | | | 28,580 |
| AAR Corp. (Aerospace & Defense) | | | 435 | | | | 18,522 |
| Aaron's, Inc. (Specialty Retail) | | | 868 | | | | 51,525 |
| Abercrombie & Fitch Co. - Class A (Specialty Retail) | | | 761 | | | | 12,450 |
| ABM Industries, Inc. (Commercial Services & Supplies) | | | 761 | | | | 29,025 |
| Acacia Communications, Inc.* (Communications Equipment) | | | 435 | | | | 29,819 |
| ACADIA Pharmaceuticals, Inc.* (Biotechnology) | | | 1,305 | | | | 52,121 |
| Acadia Realty Trust (Equity Real Estate Investment Trusts) | | | 978 | | | | 24,274 |
| Accelerate Diagnostics, Inc.* (Life Sciences Tools & Services) | | | 326 | | | | 5,477 |
| Acceleron Pharma, Inc.* (Biotechnology) | | | 545 | | | | 49,474 |
| ACCO Brands Corp. (Commercial Services & Supplies) | | | 1,197 | | | | 10,342 |
| ACI Worldwide, Inc.* (Software) | | | 1,305 | | | | 44,957 |
| Acushnet Holdings Corp. (Leisure Products) | | | 435 | | | | 13,472 |
| Addus Homecare Corp.* (Health Care Providers & Services) | | | 110 | | | | 10,377 |
| Adient PLC* (Auto Components) | | | 1,088 | | | | 27,972 |
| Adtalem Global Education, Inc.* (Diversified Consumer Services) | | | 650 | | | | 22,432 |
| ADTRAN, Inc. (Communications Equipment) | | | 546 | | | | 4,941 |
| Advanced Disposal Services, Inc.* (Commercial Services & Supplies) | | | 868 | | | | 28,601 |
| Advanced Drainage Systems, Inc. (Building Products) | | | 435 | | | | 18,083 |
| Advanced Energy Industries, Inc.* (Semiconductors & Semiconductor Equipment) | | | 435 | | | | 30,424 |
| AdvanSix, Inc.* (Chemicals) | | | 327 | | | | 6,121 |
| Adverum Biotechnologies, Inc.* (Biotechnology) | | | 653 | | | | 6,445 |
| Aegion Corp.* (Construction & Engineering) | | | 327 | | | | 6,834 |
| Aerie Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 545 | | | | 11,162 |
| Aerojet Rocketdyne Holdings, Inc.* (Aerospace & Defense) | | | 868 | | | | 45,197 |
| AeroVironment, Inc.* (Aerospace & Defense) | | | 217 | | | | 14,454 |
| AG Mortgage Investment Trust, Inc. (Mortgage Real Estate Investment Trusts) | | | 436 | | | | 6,911 |
| Agree Realty Corp. (Equity Real Estate Investment Trusts) | | | 435 | | | | 33,030 |
| Aimmune Therapeutics, Inc.* (Biotechnology) | | | 545 | | | | 16,922 |
| Air Transport Services Group, Inc.* (Air Freight & Logistics) | | | 761 | | | | 15,958 |
| Aircastle, Ltd. (Trading Companies & Distributors) | | | 650 | | | | 20,859 |
| AK Steel Holding Corp.* (Metals & Mining) | | | 3,797 | | | | 10,480 |
| Akebia Therapeutics, Inc.* (Biotechnology) | | | 1,415 | | | | 10,216 |
| Akorn, Inc.* (Pharmaceuticals) | | | 1,087 | | | | 1,663 |
| Alamo Group, Inc. (Machinery) | | | 110 | | | | 13,702 |
| Alarm.com Holdings, Inc.* (Software) | | | 435 | | | | 19,110 |
| Albany International Corp. - Class A (Machinery) | | | 326 | | | | 22,745 |
| Alexander & Baldwin, Inc. (Equity Real Estate Investment Trusts) | | | 871 | | | | 19,040 |
| Allakos, Inc.* (Biotechnology) | | | 217 | | | | 15,667 |
| Allegheny Technologies, Inc.* (Metals & Mining) | | | 1,523 | | | | 26,272 |
| Allegiance Bancshares, Inc.* (Banks) | | | 217 | | | | 8,072 |
| Allegiant Travel Co. (Airlines) | | | 110 | | | | 18,484 |
| ALLETE, Inc. (Electric Utilities) | | | 654 | | | | 54,596 |
| Allogene Therapeutics, Inc.* (Biotechnology) | | | 436 | | | | 9,470 |
| Allscripts Healthcare Solutions, Inc.* (Health Care Technology) | | | 2,067 | | | | 17,735 |
| Altair Engineering, Inc.* - Class A (Software) | | | 435 | | | | 16,073 |
| Altra Industrial Motion Corp. (Machinery) | | | 761 | | | | 25,311 |
| Ambac Financial Group, Inc.* (Insurance) | | | 545 | | | | 11,679 |
| Ambarella, Inc.* (Semiconductors & Semiconductor Equipment) | | | 435 | | | | 25,726 |
| AMC Entertainment Holdings, Inc. - Class A (Entertainment) | | | 653 | | | | 4,258 |
| Amedisys, Inc.* (Health Care Providers & Services) | | | 435 | | | | 76,772 |
| American Assets Trust, Inc. (Equity Real Estate Investment Trusts) | | | 545 | | | | 24,830 |
| American Axle & Manufacturing Holdings, Inc.* (Auto Components) | | | 1,416 | | | | 13,084 |
| American Eagle Outfitters, Inc. (Specialty Retail) | | | 1,956 | | | | 28,166 |
| American Equity Investment Life Holding Co. (Insurance) | | | 1,087 | | | | 28,708 |
| American Finance Trust, Inc. (Equity Real Estate Investment Trusts) | | | 1,307 | | | | 16,952 |
| American Outdoor Brands Corp.* (Leisure Products) | | | 652 | | | | 6,142 |
| American Public Education, Inc.* (Diversified Consumer Services) | | | 217 | | | | 5,171 |
| American States Water Co. (Water Utilities) | | | 435 | | | | 38,524 |
| American Vanguard Corp. (Chemicals) | | | 327 | | | | 6,108 |
| American Woodmark Corp.* (Building Products) | | | 217 | | | | 23,794 |
| America's Car-Mart, Inc.* (Specialty Retail) | | | 110 | | | | 12,076 |
| Ameris Bancorp (Banks) | | | 761 | | | | 30,585 |
| AMERISAFE, Inc. (Insurance) | | | 217 | | | | 14,847 |
| Amicus Therapeutics, Inc.* (Biotechnology) | | | 2,829 | | | | 25,008 |
| Amkor Technology, Inc.* (Semiconductors & Semiconductor Equipment) | | | 1,197 | | | | 13,466 |
| AMN Healthcare Services, Inc.* (Health Care Providers & Services) | | | 545 | | | | 36,722 |
| Amneal Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 1,088 | | | | 4,885 |
| Amphastar Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 436 | | | | 8,245 |
| AnaptysBio, Inc.* (Biotechnology) | | | 327 | | | | 4,748 |
| AngioDynamics, Inc.* (Health Care Equipment & Supplies) | | | 436 | | | | 6,004 |
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value |
| ANI Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 110 | | | $ | 6,820 |
| Anika Therapeutics, Inc.* (Health Care Equipment & Supplies) | | | 217 | | | | 8,921 |
| Anixter International, Inc.* (Electronic Equipment, Instruments & Components) | | | 326 | | | | 31,818 |
| Antares Pharma, Inc.* (Health Care Equipment & Supplies) | | | 1,958 | | | | 7,186 |
| Anterix, Inc.* (Diversified Telecommunication Services) | | | 110 | | | | 5,111 |
| Apellis Pharmaceuticals, Inc.* (Biotechnology) | | | 545 | | | | 22,405 |
| Apogee Enterprises, Inc. (Building Products) | | | 326 | | | | 10,373 |
| Apollo Commercial Real Estate Finance, Inc. (Mortgage Real Estate Investment Trusts) | | | 1,846 | | | | 33,745 |
| Appfolio, Inc.* (Software) | | | 217 | | | | 28,522 |
| Appian Corp.* (Software) | | | 326 | | | | 16,639 |
| Applied Industrial Technologies, Inc. (Trading Companies & Distributors) | | | 435 | | | | 28,088 |
| ArcBest Corp. (Road & Rail) | | | 326 | | | | 7,273 |
| Arch Coal, Inc. (Oil, Gas & Consumable Fuels) | | | 217 | | | | 11,182 |
| Archrock, Inc. (Energy Equipment & Services) | | | 1,524 | | | | 12,725 |
| Arcosa, Inc. (Construction & Engineering) | | | 545 | | | | 23,844 |
| Arena Pharmaceuticals, Inc.* (Biotechnology) | | | 650 | | | | 29,699 |
| Ares Management Corp. (Capital Markets) | | | 761 | | | | 27,442 |
| Argan, Inc. (Construction & Engineering) | | | 217 | | | | 9,138 |
| Argo Group International Holdings, Ltd. (Insurance) | | | 435 | | | | 28,536 |
| Armada Hoffler Properties, Inc. (Equity Real Estate Investment Trusts) | | | 653 | | | | 11,976 |
| ARMOUR Residential REIT, Inc. (Mortgage Real Estate Investment Trusts) | | | 762 | | | | 14,676 |
| Arrow Financial Corp. (Banks) | | | 112 | | | | 3,927 |
| Arrowhead Pharmaceuticals, Inc.* (Biotechnology) | | | 1,089 | | | | 45,639 |
| Artisan Partners Asset Management, Inc. (Capital Markets) | | | 650 | | | | 21,710 |
| Arvinas, Inc.* (Pharmaceuticals) | | | 217 | | | | 10,516 |
| Asbury Automotive Group, Inc.* (Specialty Retail) | | | 217 | | | | 20,930 |
| ASGN, Inc.* (Professional Services) | | | 650 | | | | 43,999 |
| Astec Industries, Inc. (Machinery) | | | 326 | | | | 13,444 |
| Astronics Corp.* (Aerospace & Defense) | | | 326 | | | | 8,215 |
| Atara Biotherapeutics, Inc.* (Biotechnology) | | | 545 | | | | 7,210 |
| Athenex, Inc.* (Biotechnology) | | | 762 | | | | 10,203 |
| Atkore International Group, Inc.* (Electrical Equipment) | | | 545 | | | | 21,637 |
| Atlantic Union Bankshares (Banks) | | | 978 | | | | 32,949 |
| Atlas Air Worldwide Holdings, Inc.* (Air Freight & Logistics) | | | 326 | | | | 7,286 |
| ATN International, Inc. (Diversified Telecommunication Services) | | | 110 | | | | 6,366 |
| AtriCure, Inc.* (Health Care Equipment & Supplies) | | | 435 | | | | 16,922 |
| Avanos Medical, Inc.* (Health Care Equipment & Supplies) | | | 545 | | | | 15,009 |
| Avaya Holdings Corp.* - Class C (Software) | | | 1,305 | | | | 16,665 |
| Avis Budget Group, Inc.* (Road & Rail) | | | 761 | | | | 24,961 |
| Avista Corp. (Multi-Utilities) | | | 761 | | | | 38,697 |
| AVX Corp. (Electronic Equipment, Instruments & Components) | | | 546 | | | | 11,067 |
| Axcelis Technologies, Inc.* (Semiconductors & Semiconductor Equipment) | | | 436 | | | | 10,529 |
| AxoGen, Inc.* (Health Care Equipment & Supplies) | | | 436 | | | | 5,389 |
| Axon Enterprise, Inc.* (Aerospace & Defense) | | | 761 | | | | 58,453 |
| Axonics Modulation Technologies, Inc.* (Health Care Equipment & Supplies) | | | 218 | | | | 6,329 |
| Axos Financial, Inc.* - Class I (Thrifts & Mortgage Finance) | | | 651 | | | | 18,339 |
| Axsome Therapeutics, Inc.* (Pharmaceuticals) | | | 328 | | | | 28,477 |
| AZZ, Inc. (Electrical Equipment) | | | 326 | | | | 13,451 |
| B&G Foods, Inc. - Class A (Food Products) | | | 762 | | | | 12,238 |
| Badger Meter, Inc. (Electronic Equipment, Instruments & Components) | | | 326 | | | | 19,254 |
| Balchem Corp. (Chemicals) | | | 435 | | | | 46,990 |
| Banc of California, Inc. (Banks) | | | 545 | | | | 8,698 |
| Bancfirst Corp. (Banks) | | | 217 | | | | 12,543 |
| Banco Latinoamericano de Comercio Exterior S.A. - Class E (Diversified Financial Services) | | | 327 | | | | 6,592 |
| BancorpSouth Bank (Banks) | | | 1,197 | | | | 34,198 |
| Bandwidth, Inc.* (Diversified Telecommunication Services) | | | 217 | | | | 15,398 |
| Bank of Marin BanCorp (Banks) | | | 110 | | | | 4,847 |
| Bank of Nt Butterfield & Son, Ltd. (The) (Banks) | | | 650 | | | | 21,593 |
| Banner Corp. (Banks) | | | 435 | | | | 22,424 |
| Barnes Group, Inc. (Machinery) | | | 545 | | | | 34,428 |
| Barrett Business Services, Inc. (Professional Services) | | | 110 | | | | 9,111 |
| Beacon Roofing Supply, Inc.* (Trading Companies & Distributors) | | | 868 | | | | 28,739 |
| Bed Bath & Beyond, Inc. (Specialty Retail) | | | 1,521 | | | | 21,674 |
| Belden, Inc. (Electronic Equipment, Instruments & Components) | | | 435 | | | | 21,432 |
| Benchmark Electronics, Inc. (Electronic Equipment, Instruments & Components) | | | 435 | | | | 13,389 |
| Benefitfocus, Inc.* (Software) | | | 327 | | | | 6,050 |
| Berkshire Hills Bancorp, Inc. (Banks) | | | 545 | | | | 15,342 |
| Berry Petroleum Corp. (Oil, Gas & Consumable Fuels) | | | 763 | | | | 5,227 |
| Big Lots, Inc. (Multiline Retail) | | | 436 | | | | 11,798 |
| Biohaven Pharmaceutical Holding Co., Ltd.* (Biotechnology) | | | 435 | | | | 21,093 |
| BioTelemetry, Inc.* (Health Care Providers & Services) | | | 435 | | | | 21,280 |
| BJ's Restaurants, Inc. (Hotels, Restaurants & Leisure) | | | 217 | | | | 8,632 |
| BJ's Wholesale Club Holdings, Inc.* (Food & Staples Retailing) | | | 1,412 | | | | 28,974 |
| Black Hills Corp. (Multi-Utilities) | | | 761 | | | | 63,185 |
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value |
| Blackbaud, Inc. (Software) | | | 545 | | | $ | 42,690 |
| Blackline, Inc.* (Software) | | | 545 | | | | 33,338 |
| Blackstone Mortgage Trust, Inc. - Class A (Mortgage Real Estate Investment Trusts) | | | 1,521 | | | | 58,102 |
| Bloom Energy Corp.* (Electrical Equipment) | | | 652 | | | | 5,138 |
| Bloomin' Brands, Inc. (Hotels, Restaurants & Leisure) | | | 1,088 | | | | 22,598 |
| Blucora, Inc.* (Capital Markets) | | | 545 | | | | 12,290 |
| Blueprint Medicines Corp.* (Biotechnology) | | | 542 | | | | 34,390 |
| BMC Stock Holdings, Inc.* (Trading Companies & Distributors) | | | 761 | | | | 22,210 |
| Boingo Wireless, Inc.* (Wireless Telecommunication Services) | | | 546 | | | | 6,137 |
| Boise Cascade Co. (Paper & Forest Products) | | | 435 | | | | 15,747 |
| Boot Barn Holdings, Inc.* (Specialty Retail) | | | 326 | | | | 13,682 |
| Boston Private Financial Holdings, Inc. (Banks) | | | 978 | | | | 11,149 |
| Bottomline Technologies, Inc.* (Software) | | | 545 | | | | 29,212 |
| Box, Inc.* - Class A (Software) | | | 1,740 | | | | 26,152 |
| Boyd Gaming Corp. (Hotels, Restaurants & Leisure) | | | 978 | | | | 29,193 |
| Brady Corp. - Class A (Commercial Services & Supplies) | | | 545 | | | | 30,177 |
| Bridge Bancorp, Inc. (Banks) | | | 217 | | | | 6,586 |
| Brightsphere Investment Group, Inc. (Capital Markets) | | | 870 | | | | 8,013 |
| Brightview Holdings, Inc.* (Commercial Services & Supplies) | | | 327 | | | | 5,167 |
| Brinker International, Inc. (Hotels, Restaurants & Leisure) | | | 435 | | | | 18,570 |
| Brookdale Senior Living, Inc.* (Health Care Providers & Services) | | | 2,286 | | | | 15,065 |
| Brookline Bancorp, Inc. (Banks) | | | 979 | | | | 14,881 |
| Brooks Automation, Inc. (Semiconductors & Semiconductor Equipment) | | | 868 | | | | 33,053 |
| Bryn Mawr Bank Corp. (Banks) | | | 217 | | | | 8,142 |
| Builders FirstSource, Inc.* (Building Products) | | | 1,413 | | | | 35,035 |
| Byline Bancorp, Inc. (Banks) | | | 328 | | | | 6,330 |
| Cabot Microelectronics Corp. (Semiconductors & Semiconductor Equipment) | | | 326 | | | | 47,436 |
| Cactus, Inc. - Class A (Energy Equipment & Services) | | | 545 | | | | 15,708 |
| Cadence Bancorp. (Banks) | | | 1,524 | | | | 23,820 |
| CAI International, Inc.* (Trading Companies & Distributors) | | | 217 | | | | 5,902 |
| Calavo Growers, Inc. (Food Products) | | | 217 | | | | 16,624 |
| Caleres, Inc. (Specialty Retail) | | | 544 | | | | 9,547 |
| California Resources Corp.* (Oil, Gas & Consumable Fuels) | | | 546 | | | | 4,008 |
| California Water Service Group (Water Utilities) | | | 545 | | | | 28,645 |
| Callaway Golf Co. (Leisure Products) | | | 1,088 | | | | 23,305 |
| Callon Petroleum Co.* (Oil, Gas & Consumable Fuels) | | | 2,828 | | | | 8,484 |
| Cal-Maine Foods, Inc. (Food Products) | | | 434 | | | | 15,489 |
| Camden National Corp. (Banks) | | | 217 | | | | 10,255 |
| Cannae Holdings, Inc.* (Diversified Financial Services) | | | 867 | | | | 35,253 |
| Capitol Federal Financial, Inc. (Thrifts & Mortgage Finance) | | | 1,633 | | | | 21,523 |
| Capstead Mortgage Corp. (Mortgage Real Estate Investment Trusts) | | | 981 | | | | 8,064 |
| Cara Therapeutics, Inc.* (Biotechnology) | | | 435 | | | | 7,004 |
| Cardiovascular Systems, Inc.* (Health Care Equipment & Supplies) | | | 435 | | | | 19,745 |
| Cardtronics PLC* - Class A (IT Services) | | | 435 | | | | 19,575 |
| CareDx, Inc.* (Biotechnology) | | | 545 | | | | 13,167 |
| CareTrust REIT, Inc. (Equity Real Estate Investment Trusts) | | | 1,196 | | | | 26,527 |
| Cargurus, Inc.* (Interactive Media & Services) | | | 867 | | | | 30,909 |
| Carolina Financial Corp. (Banks) | | | 217 | | | | 8,322 |
| Carpenter Technology Corp. (Metals & Mining) | | | 545 | | | | 21,658 |
| Cars.com, Inc.* (Interactive Media & Services) | | | 871 | | | | 10,165 |
| Carter Bank & Trust* (Banks) | | | 327 | | | | 6,471 |
| Casella Waste Systems, Inc.* - Class A (Commercial Services & Supplies) | | | 547 | | | | 28,001 |
| Cass Information Systems, Inc. (IT Services) | | | 217 | | | | 11,722 |
| CatchMark Timber Trust, Inc. - Class A (Equity Real Estate Investment Trusts) | | | 546 | | | | 5,602 |
| Cathay General Bancorp (Banks) | | | 978 | | | | 35,267 |
| Cavco Industries, Inc.* (Household Durables) | | | 110 | | | | 24,642 |
| CBIZ, Inc.* (Professional Services) | | | 651 | | | | 17,577 |
| CBTX, Inc. (Banks) | | | 217 | | | | 6,412 |
| CenterState Bank Corp. (Banks) | | | 1,523 | | | | 34,359 |
| Central Garden & Pet Co.* - Class A (Household Products) | | | 545 | | | | 16,328 |
| Central Pacific Financial Corp. (Banks) | | | 326 | | | | 9,040 |
| Century Communities, Inc.* (Household Durables) | | | 326 | | | | 9,672 |
| Cerus Corp.* (Health Care Equipment & Supplies) | | | 1,633 | | | | 6,548 |
| CEVA, Inc.* (Semiconductors & Semiconductor Equipment) | | | 217 | | | | 5,935 |
| Chart Industries, Inc.* (Machinery) | | | 435 | | | | 27,831 |
| Chase Corp. (Chemicals) | | | 110 | | | | 10,117 |
| Chatham Lodging Trust (Equity Real Estate Investment Trusts) | | | 545 | | | | 8,911 |
| Chefs' Warehouse, Inc.* (Food & Staples Retailing) | | | 326 | | | | 11,866 |
| Chegg, Inc.* (Diversified Consumer Services) | | | 1,413 | | | | 58,257 |
| Chesapeake Utilities Corp. (Gas Utilities) | | | 217 | | | | 20,878 |
| Churchill Downs, Inc. (Hotels, Restaurants & Leisure) | | | 435 | | | | 62,804 |
| Cimpress PLC* (Commercial Services & Supplies) | | | 217 | | | | 25,960 |
| CIRCOR International, Inc.* (Machinery) | | | 217 | | | | 9,012 |
| Cirrus Logic, Inc.* (Semiconductors & Semiconductor Equipment) | | | 761 | | | | 58,453 |
| City Holding Co. (Banks) | | | 217 | | | | 16,423 |
| City Office REIT, Inc. (Equity Real Estate Investment Trusts) | | | 436 | | | | 5,895 |
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value |
| Clearway Energy, Inc. - Class A (Independent Power and Renewable Electricity Producers) | | | 436 | | | $ | 9,021 |
| Clearway Energy, Inc. - Class C (Independent Power and Renewable Electricity Producers) | | | 871 | | | | 18,439 |
| Cleveland-Cliffs, Inc. (Metals & Mining) | | | 3,480 | | | | 24,430 |
| Cloudera, Inc.* (Software) | | | 2,828 | | | | 29,100 |
| Clovis Oncology, Inc.* (Biotechnology) | | | 546 | | | | 4,526 |
| CNO Financial Group, Inc. (Insurance) | | | 1,956 | | | | 34,406 |
| CNX Resources Corp.* (Oil, Gas & Consumable Fuels) | | | 2,394 | | | | 17,309 |
| Coca-Cola Consolidated, Inc. (Beverages) | | | 110 | | | | 29,789 |
| Codexis, Inc.* (Life Sciences Tools & Services) | | | 652 | | | | 10,223 |
| Coeur Mining, Inc.* (Metals & Mining) | | | 2,502 | | | | 15,087 |
| Cogent Communications Holdings, Inc. (Diversified Telecommunication Services) | | | 545 | | | | 38,656 |
| Cohen & Steers, Inc. (Capital Markets) | | | 326 | | | | 24,117 |
| Coherus Biosciences, Inc.* (Biotechnology) | | | 760 | | | | 13,710 |
| Cohu, Inc. (Semiconductors & Semiconductor Equipment) | | | 545 | | | | 12,192 |
| Collegium Pharmaceutical, Inc.* (Pharmaceuticals) | | | 437 | | | | 8,790 |
| Colony Credit Real Estate, Inc. (Mortgage Real Estate Investment Trusts) | | | 978 | | | | 12,176 |
| Columbia Banking System, Inc. (Banks) | | | 868 | | | | 33,592 |
| Columbia Financial, Inc.* (Thrifts & Mortgage Finance) | | | 653 | | | | 10,951 |
| Columbus McKinnon Corp. (Machinery) | | | 326 | | | | 11,407 |
| Comfort Systems USA, Inc. (Construction & Engineering) | | | 435 | | | | 20,184 |
| Commercial Metals Co. (Metals & Mining) | | | 1,414 | | | | 29,058 |
| Community Bank System, Inc. (Banks) | | | 654 | | | | 43,341 |
| Community Healthcare Trust, Inc. (Equity Real Estate Investment Trusts) | | | 217 | | | | 10,236 |
| Community Trust Bancorp, Inc. (Banks) | | | 217 | | | | 9,494 |
| CommVault Systems, Inc.* (Software) | | | 435 | | | | 19,584 |
| Compass Minerals International, Inc. (Metals & Mining) | | | 435 | | | | 25,182 |
| Comtech Telecommunications Corp. (Communications Equipment) | | | 326 | | | | 9,425 |
| Conduent, Inc.* (IT Services) | | | 2,066 | | | | 8,842 |
| CONMED Corp. (Health Care Equipment & Supplies) | | | 326 | | | | 33,148 |
| ConnectOne Bancorp, Inc. (Banks) | | | 436 | | | | 10,294 |
| CONSOL Energy, Inc.* (Oil, Gas & Consumable Fuels) | | | 328 | | | | 2,667 |
| Contura Energy, Inc.* (Oil, Gas & Consumable Fuels) | | | 217 | | | | 1,256 |
| Cooper Tire & Rubber Co. (Auto Components) | | | 651 | | | | 17,245 |
| Cooper-Standard Holding, Inc.* (Auto Components) | | | 217 | | | | 5,755 |
| Corcept Therapeutics, Inc.* (Pharmaceuticals) | | | 1,197 | | | | 15,166 |
| Corecivic, Inc. (Equity Real Estate Investment Trusts) | | | 1,413 | | | | 22,537 |
| Core-Mark Holding Co., Inc. (Distributors) | | | 544 | | | | 12,751 |
| CorEnergy Infrastructure Trust, Inc. (Equity Real Estate Investment Trusts) | | | 110 | | | | 5,016 |
| CorePoint Lodging, Inc. (Equity Real Estate Investment Trusts) | | | 546 | | | | 4,996 |
| Cornerstone OnDemand, Inc.* (Software) | | | 650 | | | | 38,220 |
| CorVel Corp.* (Health Care Providers & Services) | | | 110 | | | | 10,073 |
| Covanta Holding Corp. (Commercial Services & Supplies) | | | 1,413 | | | | 21,167 |
| Cowen, Inc.* - Class A (Capital Markets) | | | 327 | | | | 5,255 |
| Cracker Barrel Old Country Store, Inc. (Hotels, Restaurants & Leisure) | | | 217 | | | | 33,186 |
| Crocs, Inc.* (Textiles, Apparel & Luxury Goods) | | | 761 | | | | 28,850 |
| CryoLife, Inc.* (Health Care Equipment & Supplies) | | | 436 | | | | 12,967 |
| CryoPort, Inc.* (Health Care Equipment & Supplies) | | | 326 | | | | 5,839 |
| CSG Systems International, Inc. (IT Services) | | | 435 | | | | 21,672 |
| CSW Industrials, Inc. (Building Products) | | | 217 | | | | 16,466 |
| CTS Corp. (Electronic Equipment, Instruments & Components) | | | 435 | | | | 12,750 |
| Cubic Corp. (Aerospace & Defense) | | | 435 | | | | 28,401 |
| Cushman & Wakefield PLC* (Real Estate Management & Development) | | | 1,196 | | | | 22,987 |
| Customers Bancorp, Inc.* (Banks) | | | 327 | | | | 6,991 |
| CVB Financial Corp. (Banks) | | | 1,633 | | | | 33,917 |
| CVR Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 326 | | | | 11,283 |
| Cymabay Therapeutics, Inc.* (Pharmaceuticals) | | | 870 | | | | 1,340 |
| Cytokinetics, Inc.* (Biotechnology) | | | 652 | | | | 8,020 |
| Cytomx Therapeutics, Inc.* (Biotechnology) | | | 547 | | | | 4,059 |
| Dana, Inc. (Auto Components) | | | 1,739 | | | | 26,798 |
| Darling Ingredients, Inc.* (Food Products) | | | 1,956 | | | | 53,066 |
| Dave & Buster's Entertainment, Inc. (Hotels, Restaurants & Leisure) | | | 435 | | | | 19,210 |
| Deckers Outdoor Corp.* (Textiles, Apparel & Luxury Goods) | | | 326 | | | | 62,237 |
| Delek US Holdings, Inc. (Oil, Gas & Consumable Fuels) | | | 978 | | | | 26,855 |
| Deluxe Corp. (Commercial Services & Supplies) | | | 545 | | | | 26,269 |
| Denali Therapeutics, Inc.* (Biotechnology) | | | 545 | | | | 12,622 |
| Denbury Resources, Inc.* (Oil, Gas & Consumable Fuels) | | | 5,544 | | | | 5,461 |
| Denny's Corp.* (Hotels, Restaurants & Leisure) | | | 761 | | | | 15,578 |
| Dermira, Inc.* (Pharmaceuticals) | | | 545 | | | | 10,328 |
| Designer Brands, Inc. (Specialty Retail) | | | 761 | | | | 10,837 |
| DHT Holdings, Inc. (Oil, Gas & Consumable Fuels) | | | 1,088 | | | | 6,125 |
| Diamond Offshore Drilling, Inc.* (Energy Equipment & Services) | | | 764 | | | | 3,537 |
| DiamondRock Hospitality Co. (Equity Real Estate Investment Trusts) | | | 2,502 | | | | 24,194 |
| Dicerna Pharmaceuticals, Inc.* (Biotechnology) | | | 653 | | | | 12,893 |
| Diebold Nixdorf, Inc.* (Technology Hardware, Storage & Peripherals) | | | 980 | | | | 11,280 |
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value |
| Digimarc Corp.* (Software) | | | 109 | | | $ | 3,413 |
| Dillard's, Inc. - Class A (Multiline Retail) | | | 110 | | | | 6,679 |
| Dime Community Bancshares, Inc. (Thrifts & Mortgage Finance) | | | 436 | | | | 8,463 |
| Dine Brands Global, Inc. (Hotels, Restaurants & Leisure) | | | 217 | | | | 18,499 |
| Diodes, Inc.* (Semiconductors & Semiconductor Equipment) | | | 545 | | | | 28,144 |
| Diversified Healthcare Trust (Equity Real Estate Investment Trusts) | | | 2,936 | | | | 22,666 |
| DMC Global, Inc. (Machinery) | | | 217 | | | | 9,077 |
| Domo, Inc.* (Software) | | | 218 | | | | 5,280 |
| Dorman Products, Inc.* (Auto Components) | | | 326 | | | | 22,755 |
| Douglas Dynamics, Inc. (Machinery) | | | 326 | | | | 17,092 |
| Dril-Quip, Inc.* (Energy Equipment & Services) | | | 435 | | | | 17,793 |
| Ducommun, Inc.* (Aerospace & Defense) | | | 110 | | | | 4,502 |
| DXP Enterprises, Inc.* (Trading Companies & Distributors) | | | 217 | | | | 7,523 |
| Dycom Industries, Inc.* (Construction & Engineering) | | | 326 | | | | 13,177 |
| Eagle Bancorp, Inc. (Banks) | | | 435 | | | | 19,010 |
| Eagle Pharmaceuticals, Inc.* (Biotechnology) | | | 110 | | | | 5,920 |
| Easterly Government Properties, Inc. (Equity Real Estate Investment Trusts) | | | 871 | | | | 21,087 |
| EastGroup Properties, Inc. (Equity Real Estate Investment Trusts) | | | 435 | | | | 59,190 |
| Ebix, Inc. (Software) | | | 326 | | | | 11,224 |
| Echo Global Logistics, Inc.* (Air Freight & Logistics) | | | 327 | | | | 6,337 |
| Edgewell Personal Care Co.* (Personal Products) | | | 651 | | | | 16,809 |
| Editas Medicine, Inc.* (Biotechnology) | | | 654 | | | | 17,285 |
| eHealth, Inc.* (Insurance) | | | 326 | | | | 34,282 |
| El Paso Electric Co. (Electric Utilities) | | | 545 | | | | 37,109 |
| Eldorado Resorts, Inc.* (Hotels, Restaurants & Leisure) | | | 761 | | | | 45,493 |
| Ellington Financial, Inc. (Mortgage Real Estate Investment Trusts) | | | 327 | | | | 5,974 |
| EMCOR Group, Inc. (Construction & Engineering) | | | 650 | | | | 53,410 |
| Emergent BioSolutions, Inc.* (Biotechnology) | | | 542 | | | | 29,859 |
| Employers Holdings, Inc. (Insurance) | | | 435 | | | | 18,553 |
| Enanta Pharmaceuticals, Inc.* (Biotechnology) | | | 217 | | | | 11,184 |
| Encore Capital Group, Inc.* (Consumer Finance) | | | 326 | | | | 11,068 |
| Encore Wire Corp. (Electrical Equipment) | | | 217 | | | | 11,785 |
| Endo International PLC* (Pharmaceuticals) | | | 2,719 | | | | 15,417 |
| Enerpac Tool Group Corp. (Machinery) | | | 651 | | | | 15,045 |
| EnerSys (Electrical Equipment) | | | 545 | | | | 39,218 |
| Ennis, Inc. (Commercial Services & Supplies) | | | 327 | | | | 6,821 |
| Enova International, Inc.* (Consumer Finance) | | | 436 | | | | 10,926 |
| Enphase Energy, Inc.* (Electrical Equipment) | | | 1,088 | | | | 34,294 |
| EnPro Industries, Inc. (Machinery) | | | 217 | | | | 12,681 |
| Enstar Group, Ltd.* (Insurance) | | | 110 | | | | 21,482 |
| Entercom Communications Corp. - Class A (Media) | | | 1,523 | | | | 6,046 |
| Enterprise Financial Services Corp. (Banks) | | | 326 | | | | 14,184 |
| Envestnet, Inc.* (Software) | | | 545 | | | | 42,984 |
| Epizyme, Inc.* (Biotechnology) | | | 978 | | | | 20,470 |
| ePlus, Inc.* (Electronic Equipment, Instruments & Components) | | | 110 | | | | 8,769 |
| ESCO Technologies, Inc. (Machinery) | | | 326 | | | | 31,283 |
| Esperion Therapeutics, Inc.* (Biotechnology) | | | 326 | | | | 17,630 |
| Essent Group, Ltd. (Thrifts & Mortgage Finance) | | | 1,197 | | | | 59,382 |
| Essential Properties Realty Trust, Inc. (Real Estate Management & Development) | | | 873 | | | | 24,104 |
| Ethan Allen Interiors, Inc. (Household Durables) | | | 327 | | | | 5,281 |
| Eventbrite, Inc.* (Interactive Media & Services) | | | 436 | | | | 9,221 |
| Everbridge, Inc.* (Software) | | | 435 | | | | 39,428 |
| Everi Holdings, Inc.* (IT Services) | | | 870 | | | | 10,875 |
| EVERTEC, Inc. (IT Services) | | | 761 | | | | 25,547 |
| Evo Payments, Inc.* (IT Services) | | | 435 | | | | 12,054 |
| Evolent Health, Inc.* (Health Care Technology) | | | 870 | | | | 8,770 |
| Evoqua Water Technologies Corp.* (Machinery) | | | 870 | | | | 17,374 |
| ExlService Holdings, Inc.* (IT Services) | | | 435 | | | | 31,803 |
| Exponent, Inc. (Professional Services) | | | 650 | | | | 47,301 |
| Exterran Corp.* (Energy Equipment & Services) | | | 436 | | | | 2,354 |
| Extraction Oil & Gas, Inc.* (Oil, Gas & Consumable Fuels) | | | 1,198 | | | | 1,701 |
| Extreme Networks, Inc.* (Communications Equipment) | | | 1,416 | | | | 8,354 |
| EZCORP, Inc.* - Class A (Consumer Finance) | | | 652 | | | | 4,055 |
| Fabrinet* (Electronic Equipment, Instruments & Components) | | | 435 | | | | 27,422 |
| FARO Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | | 217 | | | | 11,210 |
| Fate Therapeutics, Inc.* (Biotechnology) | | | 653 | | | | 16,560 |
| FB Financial Corp. (Banks) | | | 217 | | | | 7,736 |
| FBL Financial Group, Inc. - Class A (Insurance) | | | 110 | | | | 5,916 |
| Federal Agricultural Mortgage Corp. (Thrifts & Mortgage Finance) | | | 110 | | | | 8,393 |
| Federal Signal Corp. (Machinery) | | | 761 | | | | 24,474 |
| Federated Hermes, Inc. - Class B (Capital Markets) | | | 1,197 | | | | 43,367 |
| Ferro Corp.* (Chemicals) | | | 978 | | | | 13,379 |
| FGL Holdings (Diversified Financial Services) | | | 1,742 | | | | 16,810 |
| FibroGen, Inc.* (Biotechnology) | | | 978 | | | | 40,928 |
| Financial Institutions, Inc. (Banks) | | | 217 | | | | 6,686 |
| First BanCorp. (Banks) | | | 2,612 | | | | 24,213 |
| First Bancorp/Southern Pines NC (Banks) | | | 326 | | | | 11,566 |
| First Bancshares, Inc. (Banks) | | | 217 | | | | 7,469 |
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value |
| First Busey Corp. (Banks) | | | 651 | | | $ | 16,601 |
| First Commonwealth Financial Corp. (Banks) | | | 1,197 | | | | 16,183 |
| First Community Bancshares, Inc. (Banks) | | | 217 | | | | 6,360 |
| First Defiance Financial Corp. (Thrifts & Mortgage Finance) | | | 435 | | | | 12,785 |
| First Financial Bancorp (Banks) | | | 1,196 | | | | 28,752 |
| First Financial Bankshares, Inc. (Banks) | | | 1,632 | | | | 54,704 |
| First Financial Corp. (Banks) | | | 110 | | | | 4,590 |
| First Foundation, Inc. (Banks) | | | 436 | | | | 7,194 |
| First Industrial Realty Trust, Inc. (Equity Real Estate Investment Trusts) | | | 1,521 | | | | 64,947 |
| First Interstate BancSystem - Class A (Banks) | | | 435 | | | | 16,748 |
| First Merchants Corp. (Banks) | | | 764 | | | | 30,369 |
| First Mid Bancshares, Inc. (Banks) | | | 217 | | | | 7,107 |
| First Midwest Bancorp, Inc. (Banks) | | | 1,305 | | | | 26,022 |
| First of Long Island Corp. (Banks) | | | 326 | | | | 7,192 |
| FirstCash, Inc. (Consumer Finance) | | | 545 | | | | 47,399 |
| Fitbit, Inc.* - Class A (Electronic Equipment, Instruments & Components) | | | 2,719 | | | | 17,728 |
| Five9, Inc.* (Software) | | | 761 | | | | 54,586 |
| Flagstar Bancorp, Inc. (Thrifts & Mortgage Finance) | | | 326 | | | | 11,488 |
| Fluidigm Corp.* (Life Sciences Tools & Services) | | | 870 | | | | 3,341 |
| Flushing Financial Corp. (Banks) | | | 327 | | | | 6,497 |
| Focus Financial Partners, Inc.* (Capital Markets) | | | 326 | | | | 9,210 |
| ForeScout Technologies, Inc.* (Software) | | | 545 | | | | 15,538 |
| FormFactor, Inc.* (Semiconductors & Semiconductor Equipment) | | | 871 | | | | 22,045 |
| Forrester Research, Inc.* (Professional Services) | | | 110 | | | | 4,551 |
| Forward Air Corp. (Air Freight & Logistics) | | | 326 | | | | 21,337 |
| Fossil Group, Inc.* (Textiles, Apparel & Luxury Goods) | | | 547 | | | | 3,681 |
| Four Corners Property Trust, Inc. (Equity Real Estate Investment Trusts) | | | 869 | | | | 26,322 |
| Fox Factory Holding Corp.* (Auto Components) | | | 435 | | | | 28,632 |
| Franklin Electric Co., Inc. (Machinery) | | | 545 | | | | 31,441 |
| Franklin Street Properties Corp. (Equity Real Estate Investment Trusts) | | | 1,305 | | | | 9,918 |
| Frank's International N.V.* (Energy Equipment & Services) | | | 1,306 | | | | 4,571 |
| Fresh Del Monte Produce, Inc. (Food Products) | | | 326 | | | | 10,230 |
| Freshpet, Inc.* (Food Products) | | | 326 | | | | 20,499 |
| Front Yard Residential Corp. (Equity Real Estate Investment Trusts) | | | 653 | | | | 7,007 |
| FTI Consulting, Inc.* (Professional Services) | | | 435 | | | | 52,225 |
| Fulton Financial Corp. (Banks) | | | 1,956 | | | | 32,215 |
| Funko, Inc.* (Distributors) | | | 217 | | | | 3,262 |
| G1 Therapeutics, Inc.* (Biotechnology) | | | 436 | | | | 8,441 |
| GameStop Corp. - Class A (Specialty Retail) | | | 1,199 | | | | 4,604 |
| Gannett Co., Inc. (Media) | | | 1,523 | | | | 9,306 |
| GasLog, Ltd. (Oil, Gas & Consumable Fuels) | | | 547 | | | | 3,545 |
| GATX Corp. (Trading Companies & Distributors) | | | 435 | | | | 33,117 |
| GCP Applied Technologies, Inc.* (Chemicals) | | | 652 | | | | 14,487 |
| Generac Holdings, Inc.* (Electrical Equipment) | | | 761 | | | | 78,831 |
| Genesco, Inc.* (Specialty Retail) | | | 217 | | | | 8,532 |
| Gentherm, Inc.* (Auto Components) | | | 435 | | | | 20,058 |
| Genworth Financial, Inc.* - Class A (Insurance) | | | 6,197 | | | | 25,408 |
| German American BanCorp, Inc. (Banks) | | | 326 | | | | 11,146 |
| Getty Realty Corp. (Equity Real Estate Investment Trusts) | | | 435 | | | | 13,711 |
| Gibraltar Industries, Inc.* (Building Products) | | | 435 | | | | 23,716 |
| G-III Apparel Group, Ltd.* (Textiles, Apparel & Luxury Goods) | | | 545 | | | | 14,829 |
| Glacier Bancorp, Inc. (Banks) | | | 978 | | | | 41,438 |
| Gladstone Commercial Corp. (Equity Real Estate Investment Trusts) | | | 327 | | | | 6,972 |
| Glaukos Corp.* (Health Care Equipment & Supplies) | | | 435 | | | | 24,469 |
| Global Blood Therapeutics, Inc.* (Biotechnology) | | | 650 | | | | 42,418 |
| Global Net Lease, Inc. (Equity Real Estate Investment Trusts) | | | 979 | | | | 20,295 |
| Globus Medical, Inc.* - Class A (Health Care Equipment & Supplies) | | | 978 | | | | 51,129 |
| Glu Mobile, Inc.* (Entertainment) | | | 1,415 | | | | 8,349 |
| GMS, Inc.* (Trading Companies & Distributors) | | | 436 | | | | 11,650 |
| Golar LNG, Ltd. (Oil, Gas & Consumable Fuels) | | | 1,195 | | | | 11,496 |
| Goosehead Insurance, Inc. (Insurance) | | | 110 | | | | 5,740 |
| GoPro, Inc.* - Class A (Household Durables) | | | 1,523 | | | | 6,001 |
| Gorman-Rupp Co. (Machinery) | | | 217 | | | | 8,009 |
| Gossamer Bio, Inc.* (Biotechnology) | | | 216 | | | | 2,868 |
| Granite Construction, Inc. (Construction & Engineering) | | | 543 | | | | 14,732 |
| Granite Point Mortgage Trust (Mortgage Real Estate Investment Trusts) | | | 652 | | | | 11,925 |
| Gray Television, Inc.* (Media) | | | 1,088 | | | | 22,065 |
| Great Lakes Dredge & Dock Corp.* (Construction & Engineering) | | | 762 | | | | 7,978 |
| Great Southern BanCorp, Inc. (Banks) | | | 110 | | | | 6,260 |
| Great Western Bancorp, Inc. (Banks) | | | 650 | | | | 19,208 |
| Green Dot Corp.* - Class A (Consumer Finance) | | | 651 | | | | 19,582 |
| Greif, Inc. - Class A (Containers & Packaging) | | | 326 | | | | 13,177 |
| Griffon Corp. (Building Products) | | | 436 | | | | 9,064 |
| Group 1 Automotive, Inc. (Specialty Retail) | | | 217 | | | | 21,867 |
| Groupon, Inc.* (Internet & Direct Marketing Retail) | | | 5,545 | | | | 15,970 |
| GTT Communications, Inc.* (IT Services) | | | 436 | | | | 5,167 |
| Guess?, Inc. (Specialty Retail) | | | 652 | | | | 13,881 |
| Gulfport Energy Corp.* (Oil, Gas & Consumable Fuels) | | | 1,958 | | | | 3,035 |
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value |
| H&E Equipment Services, Inc. (Trading Companies & Distributors) | | | 435 | | | $ | 11,793 |
| H.B. Fuller Co. (Chemicals) | | | 650 | | | | 30,037 |
| Haemonetics Corp.* (Health Care Equipment & Supplies) | | | 650 | | | | 69,803 |
| Halozyme Therapeutics, Inc.* (Biotechnology) | | | 1,739 | | | | 33,006 |
| Hamilton Lane, Inc. (Capital Markets) | | | 217 | | | | 14,094 |
| Hancock Whitney Corp. (Banks) | | | 1,089 | | | | 43,277 |
| Hanger, Inc.* (Health Care Providers & Services) | | | 435 | | | | 10,627 |
| Hanmi Financial Corp. (Banks) | | | 327 | | | | 5,500 |
| Hannon Armstrong Sustainable, Inc. - Class I (Mortgage Real Estate Investment Trusts) | | | 761 | | | | 25,942 |
| Harmonic, Inc.* (Communications Equipment) | | | 1,088 | | | | 7,654 |
| Harsco Corp.* (Machinery) | | | 979 | | | | 14,587 |
| Hawaiian Holdings, Inc. (Airlines) | | | 545 | | | | 15,195 |
| Hawkins, Inc. (Chemicals) | | | 110 | | | | 4,596 |
| Healthcare Realty Trust, Inc. (Equity Real Estate Investment Trusts) | | | 1,521 | | | | 54,847 |
| Healthcare Services Group, Inc. (Commercial Services & Supplies) | | | 869 | | | | 22,246 |
| HealthEquity, Inc.* (Health Care Providers & Services) | | | 761 | | | | 50,271 |
| HealthStream, Inc.* (Health Care Technology) | | | 326 | | | | 8,329 |
| Heartland Express, Inc. (Road & Rail) | | | 545 | | | | 10,186 |
| Heartland Financial USA, Inc. (Banks) | | | 435 | | | | 21,276 |
| Hecla Mining Co. (Metals & Mining) | | | 5,872 | | | | 17,792 |
| Heidrick & Struggles International, Inc. (Professional Services) | | | 217 | | | | 6,167 |
| Helen of Troy, Ltd.* (Household Durables) | | | 326 | | | | 61,630 |
| Helios Technologies, Inc. (Machinery) | | | 326 | | | | 13,862 |
| Helix Energy Solutions Group, Inc.* (Energy Equipment & Services) | | | 1,740 | | | | 14,512 |
| Herc Holdings, Inc.* (Trading Companies & Distributors) | | | 326 | | | | 13,079 |
| Heritage Commerce Corp. (Banks) | | | 547 | | | | 6,345 |
| Heritage Financial Corp. (Banks) | | | 435 | | | | 11,214 |
| Herman Miller, Inc. (Commercial Services & Supplies) | | | 761 | | | | 29,413 |
| Heron Therapeutics, Inc.* (Biotechnology) | | | 871 | | | | 18,169 |
| Hersha Hospitality Trust (Equity Real Estate Investment Trusts) | | | 436 | | | | 5,655 |
| Hertz Global Holdings, Inc.* (Road & Rail) | | | 1,195 | | | | 18,833 |
| Heska Corp.* (Health Care Equipment & Supplies) | | | 110 | | | | 11,021 |
| Hillenbrand, Inc. (Machinery) | | | 761 | | | | 22,092 |
| Hilltop Holdings, Inc. (Banks) | | | 870 | | | | 19,697 |
| HMS Holdings Corp.* (Health Care Technology) | | | 1,087 | | | | 29,697 |
| HNI Corp. (Commercial Services & Supplies) | | | 545 | | | | 19,604 |
| Home BancShares, Inc. (Banks) | | | 1,845 | | | | 35,276 |
| HomeStreet, Inc.* (Thrifts & Mortgage Finance) | | | 326 | | | | 10,468 |
| Homology Medicines, Inc.* (Biotechnology) | | | 327 | | | | 5,118 |
| Hope Bancorp, Inc. (Banks) | | | 1,524 | | | | 21,191 |
| Horace Mann Educators Corp. (Insurance) | | | 545 | | | | 23,440 |
| Horizon BanCorp, Inc. (Banks) | | | 436 | | | | 7,377 |
| Hostess Brands, Inc.* (Food Products) | | | 1,195 | | | | 16,037 |
| Houghton Mifflin Harcourt Co.* (Diversified Consumer Services) | | | 1,306 | | | | 7,209 |
| Houlihan Lokey, Inc. (Capital Markets) | | | 435 | | | | 22,555 |
| Hub Group, Inc.* - Class A (Air Freight & Logistics) | | | 435 | | | | 22,999 |
| Hudson, Ltd.* - Class A (Specialty Retail) | | | 437 | | | | 4,794 |
| Huron Consulting Group, Inc.* (Professional Services) | | | 326 | | | | 21,128 |
| Hyster-Yale Materials Handling, Inc. (Machinery) | | | 110 | | | | 5,939 |
| IBERIABANK Corp. (Banks) | | | 650 | | | | 47,262 |
| ICF International, Inc. (Professional Services) | | | 217 | | | | 19,007 |
| Ichor Holdings, Ltd.* (Semiconductors & Semiconductor Equipment) | | | 217 | | | | 7,246 |
| II-VI, Inc.* (Electronic Equipment, Instruments & Components) | | | 758 | | | | 25,507 |
| IMAX Corp.* (Entertainment) | | | 651 | | | | 10,767 |
| Immunomedics, Inc.* (Biotechnology) | | | 2,175 | | | | 40,390 |
| Impinj, Inc.* (Semiconductors & Semiconductor Equipment) | | | 217 | | | | 6,983 |
| Independence Realty Trust, Inc. (Equity Real Estate Investment Trusts) | | | 1,087 | | | | 15,946 |
| Independent Bank Corp. (Banks) | | | 435 | | | | 31,407 |
| Independent Bank Corp. (Banks) | | | 327 | | | | 6,991 |
| Independent Bank Group, Inc. (Banks) | | | 435 | | | | 23,281 |
| Industrial Logistics Properties Trust (Equity Real Estate Investment Trusts) | | | 761 | | | | 17,419 |
| Infinera Corp.* (Communications Equipment) | | | 2,175 | | | | 16,030 |
| Ingevity Corp.* (Chemicals) | | | 545 | | | | 35,545 |
| Ingles Markets, Inc. (Food & Staples Retailing) | | | 217 | | | | 9,047 |
| Innophos Holdings, Inc. (Chemicals) | | | 217 | | | | 6,935 |
| Innospec, Inc. (Chemicals) | | | 326 | | | | 32,838 |
| Innovative Industrial Properties, Inc. (Equity Real Estate Investment Trusts) | | | 110 | | | | 9,845 |
| Innoviva, Inc.* (Pharmaceuticals) | | | 762 | | | | 10,519 |
| Inogen, Inc.* (Health Care Equipment & Supplies) | | | 217 | | | | 9,607 |
| Inovalon Holdings, Inc.* (Health Care Technology) | | | 870 | | | | 17,626 |
| Inphi Corp.* (Semiconductors & Semiconductor Equipment) | | | 545 | | | | 41,398 |
| Insight Enterprises, Inc.* (Electronic Equipment, Instruments & Components) | | | 435 | | | | 28,653 |
| Insmed, Inc.* (Biotechnology) | | | 979 | | | | 20,109 |
| Insperity, Inc. (Professional Services) | | | 435 | | | | 38,006 |
| Inspire Medical Systems, Inc.* (Health Care Technology) | | | 110 | | | | 8,228 |
| Installed Building Products, Inc.* (Household Durables) | | | 326 | | | | 24,166 |
| Instructure, Inc.* (Software) | | | 435 | | | | 21,245 |
| Integer Holdings Corp.* (Health Care Equipment & Supplies) | | | 435 | | | | 37,149 |
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value |
| Intellia Therapeutics, Inc.* (Biotechnology) | | | 436 | | | $ | 5,193 |
| Intelsat S.A.* (Diversified Telecommunication Services) | | | 871 | | | | 2,970 |
| Inter Parfums, Inc. (Personal Products) | | | 217 | | | | 14,997 |
| Intercept Pharmaceuticals, Inc.* (Biotechnology) | | | 326 | | | | 30,126 |
| InterDigital, Inc. (Communications Equipment) | | | 435 | | | | 24,034 |
| Interface, Inc. (Commercial Services & Supplies) | | | 762 | | | | 12,253 |
| International Bancshares Corp. (Banks) | | | 650 | | | | 25,610 |
| International Seaways, Inc.* (Oil, Gas & Consumable Fuels) | | | 327 | | | | 7,279 |
| Intersect ENT, Inc.* (Pharmaceuticals) | | | 326 | | | | 8,424 |
| INTL. FCStone, Inc.* (Capital Markets) | | | 217 | | | | 10,342 |
| Intra-Cellular Therapies, Inc.* (Pharmaceuticals) | | | 546 | | | | 12,389 |
| Intrexon Corp.* (Biotechnology) | | | 870 | | | | 4,046 |
| Invesco Mortgage Capital, Inc. (Mortgage Real Estate Investment Trusts) | | | 1,524 | | | | 26,655 |
| Investors Bancorp, Inc. (Banks) | | | 2,828 | | | | 34,176 |
| Investors Real Estate Trust (Equity Real Estate Investment Trusts) | | | 110 | | | | 8,107 |
| Invitae Corp.* (Biotechnology) | | | 1,087 | | | | 20,273 |
| Iovance Biotherapeutics, Inc.* (Biotechnology) | | | 1,413 | | | | 30,719 |
| Irhythm Technologies, Inc.* (Health Care Equipment & Supplies) | | | 326 | | | | 27,915 |
| Iridium Communications, Inc.* (Diversified Telecommunication Services) | | | 1,196 | | | | 30,558 |
| iRobot Corp.* (Household Durables) | | | 326 | | | | 15,338 |
| Ironwood Pharmaceuticals, Inc.* (Biotechnology) | | | 1,849 | | | | 22,336 |
| iStar, Inc. (Equity Real Estate Investment Trusts) | | | 762 | | | | 11,095 |
| Itron, Inc.* (Electronic Equipment, Instruments & Components) | | | 435 | | | | 35,561 |
| J & J Snack Foods Corp. (Food Products) | | | 217 | | | | 35,987 |
| j2 Global, Inc. (Software) | | | 545 | | | | 52,244 |
| Jack in the Box, Inc. (Hotels, Restaurants & Leisure) | | | 326 | | | | 26,651 |
| James River Group Holdings, Ltd. (Insurance) | | | 326 | | | | 13,998 |
| Jeld-Wen Holding, Inc.* (Building Products) | | | 871 | | | | 20,799 |
| Jernigan Capital, Inc. (Equity Real Estate Investment Trusts) | | | 218 | | | | 4,358 |
| John B. Sanfilippo & Son, Inc. (Food Products) | | | 110 | | | | 9,273 |
| John Bean Technologies Corp. (Machinery) | | | 326 | | | | 36,835 |
| K12, Inc.* (Diversified Consumer Services) | | | 436 | | | | 7,037 |
| Kadant, Inc. (Machinery) | | | 110 | | | | 11,726 |
| Kaiser Aluminum Corp. (Metals & Mining) | | | 217 | | | | 21,733 |
| Kaman Corp. - Class A (Trading Companies & Distributors) | | | 326 | | | | 20,121 |
| KB Home (Household Durables) | | | 978 | | | | 36,724 |
| KBR, Inc. (IT Services) | | | 1,738 | | | | 47,274 |
| Kearny Financial Corp. (Thrifts & Mortgage Finance) | | | 978 | | | | 12,078 |
| Kelly Services, Inc. - Class A (Professional Services) | | | 437 | | | | 7,761 |
| KEMET Corp. (Electronic Equipment, Instruments & Components) | | | 651 | | | | 16,952 |
| Kennametal, Inc. (Machinery) | | | 978 | | | | 30,602 |
| Kennedy-Wilson Holdings, Inc. (Real Estate Management & Development) | | | 1,523 | | | | 32,836 |
| Kforce, Inc. (Professional Services) | | | 326 | | | | 12,078 |
| Kimball International, Inc. - Class B (Commercial Services & Supplies) | | | 436 | | | | 8,188 |
| Kinsale Capital Group, Inc. (Insurance) | | | 217 | | | | 24,786 |
| Kite Realty Group Trust (Equity Real Estate Investment Trusts) | | | 979 | | | | 16,839 |
| KKR Real Estate Finance Trust, Inc. (Mortgage Real Estate Investment Trusts) | | | 327 | | | | 6,883 |
| Knoll, Inc. (Commercial Services & Supplies) | | | 544 | | | | 13,469 |
| Knowles Corp.* (Electronic Equipment, Instruments & Components) | | | 979 | | | | 19,316 |
| Kontoor Brands, Inc. (Textiles, Apparel & Luxury Goods) | | | 545 | | | | 20,786 |
| Koppers Holdings, Inc.* (Chemicals) | | | 217 | | | | 6,809 |
| Korn Ferry (Professional Services) | | | 650 | | | | 26,637 |
| Kraton Corp.* (Chemicals) | | | 436 | | | | 7,172 |
| Kratos Defense & Security Solutions, Inc.* (Aerospace & Defense) | | | 1,087 | | | | 19,936 |
| Kura Oncology, Inc.* (Biotechnology) | | | 328 | | | | 3,851 |
| Ladder Capital Corp. (Mortgage Real Estate Investment Trusts) | | | 1,305 | | | | 23,947 |
| Ladenburg Thalmann Financial Services, Inc. (Capital Markets) | | | 1,415 | | | | 4,938 |
| Lakeland Bancorp, Inc. (Banks) | | | 545 | | | | 8,851 |
| Lakeland Financial Corp. (Banks) | | | 326 | | | | 15,465 |
| Lancaster Colony Corp. (Food Products) | | | 217 | | | | 33,559 |
| Lantheus Holdings, Inc.* (Health Care Equipment & Supplies) | | | 436 | | | | 7,634 |
| Laredo Petroleum, Inc.* (Oil, Gas & Consumable Fuels) | | | 2,176 | | | | 3,743 |
| Lattice Semiconductor Corp.* (Semiconductors & Semiconductor Equipment) | | | 1,523 | | | | 28,328 |
| Laureate Education, Inc.* - Class A (Diversified Consumer Services) | | | 1,195 | | | | 24,904 |
| La-Z-Boy, Inc. (Household Durables) | | | 545 | | | | 16,699 |
| LCI Industries (Auto Components) | | | 326 | | | | 35,197 |
| Lemaitre Vascular, Inc. (Health Care Equipment & Supplies) | | | 217 | | | | 7,809 |
| LendingClub Corp.* (Consumer Finance) | | | 805 | | | | 9,435 |
| Lexington Realty Trust (Equity Real Estate Investment Trusts) | | | 2,829 | | | | 31,317 |
| LGI Homes, Inc.* (Household Durables) | | | 217 | | | | 17,304 |
| LHC Group, Inc.* (Health Care Providers & Services) | | | 326 | | | | 47,514 |
| Liberty Braves Group* - Class C (Entertainment) | | | 435 | | | | 12,679 |
| Liberty Latin America, Ltd.* - Class A (Media) | | | 545 | | | | 9,091 |
| Liberty Latin America, Ltd.* - Class C (Media) | | | 1,414 | | | | 23,826 |
| Liberty Oilfield Services, Inc. (Energy Equipment & Services) | | | 546 | | | | 4,630 |
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value |
| Liberty TripAdvisor Holdings, Inc.* - Class A (Interactive Media & Services) | | | 870 | | | $ | 5,124 |
| Ligand Pharmaceuticals, Inc.* - Class B (Biotechnology) | | | 217 | | | | 19,055 |
| Lindsay Corp. (Machinery) | | | 110 | | | | 11,003 |
| Lithia Motors, Inc. - Class A (Specialty Retail) | | | 217 | | | | 29,434 |
| LivaNova PLC* (Health Care Equipment & Supplies) | | | 542 | | | | 36,840 |
| Live Oak Bancshares, Inc. (Banks) | | | 327 | | | | 5,716 |
| Livent Corp.* (Chemicals) | | | 1,740 | | | | 16,373 |
| LivePerson, Inc.* (Software) | | | 761 | | | | 31,209 |
| LiveRamp Holdings, Inc.* (IT Services) | | | 868 | | | | 34,928 |
| Loral Space & Communications, Inc.* (Media) | | | 109 | | | | 3,507 |
| Louisiana-Pacific Corp. (Paper & Forest Products) | | | 1,521 | | | | 46,664 |
| LTC Properties, Inc. (Equity Real Estate Investment Trusts) | | | 435 | | | | 20,080 |
| Lumentum Holdings, Inc.* (Communications Equipment) | | | 978 | | | | 74,102 |
| Luminex Corp. (Life Sciences Tools & Services) | | | 545 | | | | 12,363 |
| Luxfer Holdings PLC (Machinery) | | | 328 | | | | 5,232 |
| M.D.C. Holdings, Inc. (Household Durables) | | | 650 | | | | 27,391 |
| M/A-COM Technology Solutions Holdings, Inc.* (Semiconductors & Semiconductor Equipment) | | | 545 | | | | 15,489 |
| M/I Homes, Inc.* (Household Durables) | | | 326 | | | | 14,471 |
| Mack-Cali Realty Corp. (Equity Real Estate Investment Trusts) | | | 1,088 | | | | 23,892 |
| MacroGenics, Inc.* (Biotechnology) | | | 546 | | | | 5,051 |
| Madrigal Pharmaceuticals, Inc.* (Biotechnology) | | | 110 | | | | 9,132 |
| Magellan Health, Inc.* (Health Care Providers & Services) | | | 217 | | | | 15,887 |
| Magnolia Oil & Gas Corp.* (Oil, Gas & Consumable Fuels) | | | 1,197 | | | | 12,592 |
| Malibu Boats, Inc.* (Leisure Products) | | | 217 | | | | 9,502 |
| Mallinckrodt PLC* (Pharmaceuticals) | | | 982 | | | | 4,507 |
| ManTech International Corp. - Class A (IT Services) | | | 326 | | | | 26,171 |
| Marcus & Millichap, Inc.* (Real Estate Management & Development) | | | 326 | | | | 11,540 |
| Marriott Vacations Worldwide Corp. (Hotels, Restaurants & Leisure) | | | 545 | | | | 65,530 |
| Marten Transport, Ltd. (Road & Rail) | | | 436 | | | | 9,051 |
| Masonite International Corp.* (Building Products) | | | 326 | | | | 24,486 |
| MasTec, Inc.* (Construction & Engineering) | | | 761 | | | | 43,948 |
| Matador Resources Co.* (Oil, Gas & Consumable Fuels) | | | 1,305 | | | | 19,144 |
| Materion Corp. (Metals & Mining) | | | 217 | | | | 11,783 |
| Matrix Service Co.* (Energy Equipment & Services) | | | 327 | | | | 6,579 |
| Matson, Inc. (Marine) | | | 545 | | | | 19,625 |
| Matthews International Corp. - Class A (Commercial Services & Supplies) | | | 326 | | | | 12,166 |
| MAX Holdings, Inc. (Real Estate Management & Development) | | | 217 | | | | 8,307 |
| Maxar Technologies, Inc. (Aerospace & Defense) | | | 763 | | | | 12,177 |
| MAXIMUS, Inc. (IT Services) | | | 761 | | | | 54,601 |
| MaxLinear, Inc.* - Class A (Semiconductors & Semiconductor Equipment) | | | 760 | | | | 14,812 |
| MBIA, Inc.* (Insurance) | | | 980 | | | | 8,879 |
| McGrath RentCorp (Commercial Services & Supplies) | | | 326 | | | | 25,206 |
| Medifast, Inc. (Personal Products) | | | 110 | | | | 10,629 |
| Medpace Holdings* (Life Sciences Tools & Services) | | | 326 | | | | 27,889 |
| Mercantile Bank Corp. (Banks) | | | 217 | | | | 7,111 |
| Mercury Systems, Inc.* (Aerospace & Defense) | | | 650 | | | | 49,888 |
| Meredith Corp. (Media) | | | 434 | | | | 13,042 |
| Meridian Bancorp, Inc. (Thrifts & Mortgage Finance) | | | 545 | | | | 9,805 |
| Meridian Bioscience, Inc. (Health Care Equipment & Supplies) | | | 547 | | | | 5,382 |
| Merit Medical Systems, Inc.* (Health Care Equipment & Supplies) | | | 650 | | | | 23,673 |
| Meritage Homes Corp.* (Household Durables) | | | 435 | | | | 30,868 |
| Meritor, Inc.* (Machinery) | | | 979 | | | | 21,450 |
| Meta Financial Group, Inc. (Thrifts & Mortgage Finance) | | | 435 | | | | 16,191 |
| Methode Electronics, Inc. (Electronic Equipment, Instruments & Components) | | | 435 | | | | 14,246 |
| MGE Energy, Inc. (Electric Utilities) | | | 435 | | | | 34,770 |
| MGP Ingredients, Inc. (Beverages) | | | 110 | | | | 3,747 |
| MicroStrategy, Inc.* - Class A (Software) | | | 110 | | | | 16,723 |
| Middlesex Water Co. (Water Utilities) | | | 217 | | | | 14,161 |
| Midland States BanCorp, Inc. (Banks) | | | 217 | | | | 5,733 |
| Minerals Technologies, Inc. (Chemicals) | | | 435 | | | | 23,547 |
| Mirati Therapeutics, Inc.* (Biotechnology) | | | 326 | | | | 28,307 |
| Mobile Mini, Inc. (Commercial Services & Supplies) | | | 545 | | | | 22,748 |
| MobileIron, Inc.* (Software) | | | 1,199 | | | | 5,719 |
| Model N, Inc.* (Software) | | | 435 | | | | 13,568 |
| Modine Manufacturing Co.* (Auto Components) | | | 652 | | | | 4,584 |
| Moelis & Co. (Capital Markets) | | | 545 | | | | 19,620 |
| Momenta Pharmaceuticals, Inc.* (Biotechnology) | | | 1,197 | | | | 34,737 |
| Monarch Casino & Resort, Inc.* (Hotels, Restaurants & Leisure) | | | 110 | | | | 5,905 |
| Monmouth Real Estate Investment Corp. - Class A (Equity Real Estate Investment Trusts) | | | 1,088 | | | | 15,917 |
| Monro, Inc. (Specialty Retail) | | | 435 | | | | 27,275 |
| Moog, Inc. - Class A (Aerospace & Defense) | | | 435 | | | | 38,980 |
| Movado Group, Inc. (Textiles, Apparel & Luxury Goods) | | | 217 | | | | 3,737 |
| Mr. Cooper Group, Inc.* (Thrifts & Mortgage Finance) | | | 981 | | | | 12,145 |
| MRC Global, Inc.* (Trading Companies & Distributors) | | | 978 | | | | 11,012 |
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| MSA Safety, Inc. (Commercial Services & Supplies) | | | 435 | | | $ | 58,985 | |
| MSG Networks, Inc.* - Class A (Media) | | | 762 | | | | 11,590 | |
| MTS Systems Corp. (Electronic Equipment, Instruments & Components) | | | 217 | | | | 11,000 | |
| Mueller Industries, Inc. (Machinery) | | | 650 | | | | 18,961 | |
| Mueller Water Products, Inc. - Class A (Machinery) | | | 1,957 | | | | 22,799 | |
| Murphy USA, Inc.* (Specialty Retail) | | | 326 | | | | 33,308 | |
| Myers Industries, Inc. (Containers & Packaging) | | | 435 | | | | 7,038 | |
| Myokardia, Inc.* (Pharmaceuticals) | | | 542 | | | | 36,872 | |
| MYR Group, Inc.* (Construction & Engineering) | | | 217 | | | | 6,232 | |
| Myriad Genetics, Inc.* (Biotechnology) | | | 869 | | | | 24,028 | |
| Nabors Industries, Ltd. (Energy Equipment & Services) | | | 4,242 | | | | 8,781 | |
| Nanostring Technologies, Inc.* (Life Sciences Tools & Services) | | | 436 | | | | 11,846 | |
| Natera, Inc.* (Biotechnology) | | | 654 | | | | 22,897 | |
| National Bank Holdings Corp. (Banks) | | | 326 | | | | 10,628 | |
| National Beverage Corp.* (Beverages) | | | 110 | | | | 4,720 | |
| National General Holdings Corp. (Insurance) | | | 871 | | | | 18,962 | |
| National Health Investors, Inc. (Equity Real Estate Investment Trusts) | | | 545 | | | | 45,987 | |
| National Healthcare Corp. (Health Care Providers & Services) | | | 110 | | | | 9,231 | |
| National Presto Industries, Inc. (Aerospace & Defense) | | | 110 | | | | 9,481 | |
| National Research Corp. (Health Care Providers & Services) | | | 110 | | | | 7,444 | |
| National Storage Affiliates Trust (Equity Real Estate Investment Trusts) | | | 650 | | | | 22,198 | |
| National Vision Holdings, Inc.* (Specialty Retail) | | | 958 | | | | 32,687 | |
| Natus Medical, Inc.* (Health Care Equipment & Supplies) | | | 435 | | | | 13,611 | |
| Navistar International Corp.* (Machinery) | | | 651 | | | | 23,840 | |
| NBT Bancorp, Inc. (Banks) | | | 545 | | | | 20,596 | |
| Neenah, Inc. (Paper & Forest Products) | | | 217 | | | | 14,461 | |
| Nelnet, Inc. - Class A (Consumer Finance) | | | 217 | | | | 12,425 | |
| Neogen Corp.* (Health Care Equipment & Supplies) | | | 650 | | | | 43,726 | |
| NeoGenomics, Inc.* (Life Sciences Tools & Services) | | | 1,085 | | | | 34,970 | |
| NETGEAR, Inc.* (Communications Equipment) | | | 326 | | | | 8,385 | |
| NetScout Systems, Inc.* (Communications Equipment) | | | 870 | | | | 22,368 | |
| Nevro Corp.* (Health Care Equipment & Supplies) | | | 326 | | | | 43,329 | |
| New Jersey Resources Corp. (Gas Utilities) | | | 1,086 | | | | 44,874 | |
| New Senior Investment Group, Inc. (Equity Real Estate Investment Trusts) | | | 981 | | | | 7,475 | |
| New York Mortgage Trust, Inc. (Mortgage Real Estate Investment Trusts) | | | 2,503 | | | | 15,894 | |
| Newmark Group, Inc. (Real Estate Management & Development) | | | 1,740 | | | | 20,480 | |
| Newpark Resources, Inc.* (Energy Equipment & Services) | | | 1,088 | | | | 5,440 | |
| Nexpoint Residential Trust, Inc. (Equity Real Estate Investment Trusts) | | | 217 | | | | 10,590 | |
| NextGen Healthcare, Inc.* (Health Care Technology) | | | 651 | | | | 9,023 | |
| NIC, Inc. (IT Services) | | | 761 | | | | 15,015 | |
| Nicolet Bankshares, Inc.* (Banks) | | | 110 | | | | 7,772 | |
| Nlight, Inc.* (Electronic Equipment, Instruments & Components) | | | 436 | | | | 7,661 | |
| NMI Holdings, Inc.* - Class A (Thrifts & Mortgage Finance) | | | 761 | | | | 24,291 | |
| Noble Corp. PLC* (Energy Equipment & Services) | | | 3,043 | | | | 2,458 | |
| Northern Oil & Gas, Inc.* (Oil, Gas & Consumable Fuels) | | | 3,369 | | | | 5,593 | |
| Northfield Bancorp, Inc. (Thrifts & Mortgage Finance) | | | 545 | | | | 8,660 | |
| Northwest Bancshares, Inc. (Thrifts & Mortgage Finance) | | | 1,195 | | | | 18,791 | |
| Northwest Natural Holding Co. (Gas Utilities) | | | 326 | | | | 23,922 | |
| NorthWestern Corp. (Multi-Utilities) | | | 650 | | | | 50,031 | |
| Novagold Resources, Inc.* (Metals & Mining) | | | 2,828 | | | | 25,791 | |
| Novanta, Inc.* (Electronic Equipment, Instruments & Components) | | | 435 | | | | 39,468 | |
| Novocure, Ltd.* (Health Care Equipment & Supplies) | | | 978 | | | | 79,667 | |
| NOW, Inc.* (Trading Companies & Distributors) | | | 1,306 | | | | 13,073 | |
| NuVasive, Inc.* (Health Care Equipment & Supplies) | | | 650 | | | | 50,128 | |
| NV5 Global, Inc.* (Construction & Engineering) | | | 110 | | | | 6,832 | |
| Oasis Petroleum, Inc.* (Oil, Gas & Consumable Fuels) | | | 3,916 | | | | 8,811 | |
| Oceaneering International, Inc.* (Energy Equipment & Services) | | | 1,194 | | | | 14,818 | |
| Oceanfirst Financial Corp. (Thrifts & Mortgage Finance) | | | 651 | | | | 15,142 | |
| Office Depot, Inc. (Specialty Retail) | | | 6,617 | | | | 14,690 | |
| Office Properties Income Trust (Equity Real Estate Investment Trusts) | | | 545 | | | | 18,546 | |
| OFG Bancorp (Banks) | | | 651 | | | | 12,831 | |
| Oil States International, Inc.* (Energy Equipment & Services) | | | 762 | | | | 8,214 | |
| Old National Bancorp (Banks) | | | 2,066 | | | | 37,002 | |
| Omeros Corp.* (Pharmaceuticals) | | | 545 | | | | 6,954 | |
| Omnicell, Inc.* (Health Care Technology) | | | 545 | | | | 44,298 | |
| ONE Gas, Inc. (Gas Utilities) | | | 650 | | | | 61,424 | |
| One Liberty Properties, Inc. (Equity Real Estate Investment Trusts) | | | 217 | | | | 5,933 | |
| OneSpan, Inc.* (Software) | | | 435 | | | | 7,230 | |
| OneSpaWorld Holdings, Ltd. (Diversified Consumer Services) | | | 545 | | | | 8,180 | |
| Onto Innovation, Inc.* (Semiconductors & Semiconductor Equipment) | | | 652 | | | | 24,737 | |
| OPKO Health, Inc.* (Biotechnology) | | | 4,132 | | | | 5,991 | |
| Opus Bank (Banks) | | | 218 | | | | 5,806 | |
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| OraSure Technologies, Inc.* (Health Care Equipment & Supplies) | | | 764 | | | $ | 5,386 | |
| ORBCOMM, Inc.* (Diversified Telecommunication Services) | | | 870 | | | | 3,123 | |
| Origin BanCorp, Inc. (Banks) | | | 217 | | | | 7,647 | |
| Orion Engineered Carbons SA (Chemicals) | | | 761 | | | | 11,948 | |
| Ormat Technologies, Inc. (Independent Power and Renewable Electricity Producers) | | | 435 | | | | 34,478 | |
| Orthofix Medical, Inc.* (Health Care Equipment & Supplies) | | | 217 | | | | 9,387 | |
| OSI Systems, Inc.* (Electronic Equipment, Instruments & Components) | | | 217 | | | | 18,779 | |
| Otter Tail Corp. (Electric Utilities) | | | 435 | | | | 23,299 | |
| Oxford Industries, Inc. (Textiles, Apparel & Luxury Goods) | | | 217 | | | | 15,060 | |
| P.H. Glatfelter Co. (Paper & Forest Products) | | | 545 | | | | 9,102 | |
| Pacific Biosciences of California, Inc.* (Life Sciences Tools & Services) | | | 2,261 | | | | 10,559 | |
| Pacific Premier Bancorp, Inc. (Banks) | | | 761 | | | | 22,678 | |
| Pacira BioSciences, Inc.* (Pharmaceuticals) | | | 545 | | | | 23,555 | |
| Papa John's International, Inc. (Hotels, Restaurants & Leisure) | | | 217 | | | | 14,057 | |
| Par Pacific Holdings, Inc.* (Oil, Gas & Consumable Fuels) | | | 436 | | | | 8,772 | |
| Park National Corp. (Banks) | | | 217 | | | | 20,608 | |
| Parsons Corp.* (Aerospace & Defense) | | | 217 | | | | 8,875 | |
| Patrick Industries, Inc. (Building Products) | | | 326 | | | | 16,913 | |
| Pattern Energy Group, Inc. (Independent Power and Renewable Electricity Producers) | | | 1,087 | | | | 29,251 | |
| Patterson Cos., Inc. (Health Care Providers & Services) | | | 979 | | | | 21,548 | |
| PDC Energy, Inc.* (Oil, Gas & Consumable Fuels) | | | 1,196 | | | | 25,822 | |
| Peabody Energy Corp. (Oil, Gas & Consumable Fuels) | | | 870 | | | | 5,881 | |
| Peapack Gladstone Financial Corp. (Banks) | | | 217 | | | | 6,343 | |
| Pebblebrook Hotel Trust (Equity Real Estate Investment Trusts) | | | 1,633 | | | | 38,735 | |
| Penn National Gaming, Inc.* (Hotels, Restaurants & Leisure) | | | 1,305 | | | | 38,928 | |
| Pennsylvania Real Estate Investment Trust (Equity Real Estate Investment Trusts) | | | 870 | | | | 3,428 | |
| Pennymac Financial Services, Inc. (Thrifts & Mortgage Finance) | | | 326 | | | | 10,993 | |
| PennyMac Mortgage Investment Trust (Mortgage Real Estate Investment Trusts) | | | 871 | | | | 20,251 | |
| Peoples BanCorp, Inc. (Banks) | | | 217 | | | | 7,061 | |
| People's Utah BanCorp (Banks) | | | 217 | | | | 5,659 | |
| Perdoceo Education Corp.* (Diversified Consumer Services) | | | 870 | | | | 15,469 | |
| Perficient, Inc.* (IT Services) | | | 435 | | | | 21,620 | |
| Performance Food Group Co.* (Food & Staples Retailing) | | | 1,305 | | | | 67,587 | |
| Perspecta, Inc. (IT Services) | | | 1,740 | | | | 48,841 | |
| Petiq, Inc.* (Health Care Providers & Services) | | | 218 | | | | 6,486 | |
| PGT Innovations, Inc.* (Building Products) | | | 653 | | | | 10,122 | |
| Phibro Animal Health Corp. - Class A (Pharmaceuticals) | | | 218 | | | | 5,171 | |
| Photronics, Inc.* (Semiconductors & Semiconductor Equipment) | | | 765 | | | | 9,777 | |
| Physicians Realty Trust (Equity Real Estate Investment Trusts) | | | 2,282 | | | | 44,157 | |
| Piedmont Office Realty Trust, Inc. - Class A (Equity Real Estate Investment Trusts) | | | 1,523 | | | | 35,318 | |
| Piper Sandler Cos. (Capital Markets) | | | 217 | | | | 17,887 | |
| Pitney Bowes, Inc. (Commercial Services & Supplies) | | | 2,176 | | | | 8,138 | |
| PJT Partners, Inc. - Class A (Capital Markets) | | | 326 | | | | 15,003 | |
| Plantronics, Inc. (Communications Equipment) | | | 436 | | | | 12,522 | |
| Playags, Inc.* (Hotels, Restaurants & Leisure) | | | 329 | �� | | | 3,382 | |
| Plexus Corp.* (Electronic Equipment, Instruments & Components) | | | 326 | | | | 23,185 | |
| Plug Power, Inc.* (Electrical Equipment) | | | 2,828 | | | | 10,930 | |
| PNM Resources, Inc. (Electric Utilities) | | | 978 | | | | 53,037 | |
| PolyOne Corp. (Chemicals) | | | 978 | | | | 32,450 | |
| Portland General Electric Co. (Electric Utilities) | | | 1,086 | | | | 66,788 | |
| Portola Pharmaceuticals, Inc.* (Biotechnology) | | | 761 | | | | 9,733 | |
| PotlatchDeltic Corp. (Equity Real Estate Investment Trusts) | | | 761 | | | | 32,723 | |
| Power Integrations, Inc. (Semiconductors & Semiconductor Equipment) | | | 326 | | | | 31,840 | |
| PQ Group Holdings, Inc.* (Chemicals) | | | 435 | | | | 6,660 | |
| PRA Group, Inc.* (Consumer Finance) | | | 545 | | | | 19,271 | |
| Preferred Apartment Communities, Inc. - Class A (Equity Real Estate Investment Trusts) | | | 545 | | | | 6,420 | |
| Preferred Bank (Banks) | | | 217 | | | | 13,044 | |
| Prestige Consumer Healthcare, Inc.* (Pharmaceuticals) | | | 650 | | | | 26,364 | |
| PriceSmart, Inc. (Food & Staples Retailing) | | | 326 | | | | 19,971 | |
| Primo Water Corp.* (Beverages) | | | 435 | | | | 6,555 | |
| Primoris Services Corp. (Construction & Engineering) | | | 545 | | | | 11,625 | |
| Principia BioPharma, Inc.* (Biotechnology) | | | 110 | | | | 5,792 | |
| ProAssurance Corp. (Insurance) | | | 650 | | | | 19,741 | |
| Progenics Pharmaceuticals, Inc.* (Biotechnology) | | | 1,088 | | | | 4,852 | |
| Progress Software Corp. (Software) | | | 545 | | | | 24,596 | |
| ProPetro Holding Corp.* (Energy Equipment & Services) | | | 979 | | | | 9,535 | |
| PROS Holdings, Inc.* (Software) | | | 435 | | | | 26,100 | |
| Proto Labs, Inc.* (Machinery) | | | 326 | | | | 33,741 | |
| Provident Financial Services, Inc. (Thrifts & Mortgage Finance) | | | 761 | | | | 17,358 | |
| PS Business Parks, Inc. (Equity Real Estate Investment Trusts) | | | 217 | | | | 36,361 | |
| PTC Therapeutics, Inc.* (Biotechnology) | | | 650 | | | | 33,475 | |
| Q2 Holdings, Inc.* (Software) | | | 435 | | | | 37,928 | |
| QAD, Inc. (Software) | | | 110 | | | | 5,660 | |
| QCR Holdings, Inc. (Banks) | | | 217 | | | | 8,919 | |
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| QEP Resources, Inc. (Oil, Gas & Consumable Fuels) | | | 2,937 | | | $ | 9,310 | |
| QTS Realty Trust, Inc. - Class A (Equity Real Estate Investment Trusts) | | | 650 | | | | 36,972 | |
| Quaker Chemical Corp. (Chemicals) | | | 110 | | | | 18,262 | |
| Qualys, Inc.* (Software) | | | 435 | | | | 37,297 | |
| Quanex Building Products Corp. (Building Products) | | | 435 | | | | 7,708 | |
| Quidel Corp.* (Health Care Equipment & Supplies) | | | 435 | | | | 33,408 | |
| QuinStreet, Inc.* (Interactive Media & Services) | | | 545 | | | | 7,060 | |
| Quotient Technology, Inc.* (Internet & Direct Marketing Retail) | | | 982 | | | | 9,889 | |
| R1 RCM, Inc.* (Health Care Providers & Services) | | | 1,197 | | | | 14,963 | |
| Ra Pharmaceuticals, Inc.* (Biotechnology) | | | 435 | | | | 20,388 | |
| Radian Group, Inc. (Thrifts & Mortgage Finance) | | | 2,500 | | | | 61,224 | |
| Radius Health, Inc.* (Biotechnology) | | | 544 | | | | 9,553 | |
| RadNet, Inc.* (Health Care Providers & Services) | | | 546 | | | | 12,323 | |
| Rambus, Inc.* (Semiconductors & Semiconductor Equipment) | | | 1,305 | | | | 20,710 | |
| Rapid7, Inc.* (Software) | | | 545 | | | | 32,362 | |
| Raven Industries, Inc. (Industrial Conglomerates) | | | 435 | | | | 13,642 | |
| RBC Bearings, Inc.* (Machinery) | | | 326 | | | | 50,696 | |
| Ready Capital Corp. (Mortgage Real Estate Investment Trusts) | | | 327 | | | | 5,337 | |
| Realogy Holdings Corp. (Real Estate Management & Development) | | | 1,416 | | | | 14,995 | |
| Reata Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 217 | | | | 47,477 | |
| Red Robin Gourmet Burgers, Inc.* (Hotels, Restaurants & Leisure) | | | 109 | | | | 3,583 | |
| Red Rock Resorts, Inc. - Class A (Hotels, Restaurants & Leisure) | | | 871 | | | | 21,348 | |
| Redfin Corp.* (Real Estate Management & Development) | | | 1,088 | | | | 26,471 | |
| Redwood Trust, Inc. (Mortgage Real Estate Investment Trusts) | | | 1,195 | | | | 21,068 | |
| Regenxbio, Inc.* (Biotechnology) | | | 435 | | | | 18,936 | |
| Regis Corp.* (Diversified Consumer Services) | | | 328 | | | | 5,091 | |
| Renasant Corp. (Banks) | | | 650 | | | | 20,755 | |
| Renewable Energy Group, Inc.* (Oil, Gas & Consumable Fuels) | | | 436 | | | | 11,458 | |
| Rent-A-Center, Inc. (Specialty Retail) | | | 542 | | | | 15,788 | |
| Repligen Corp.* (Biotechnology) | | | 545 | | | | 54,712 | |
| Republic Bancorp, Inc. - Class A (Banks) | | | 110 | | | | 4,609 | |
| Resources Connection, Inc. (Professional Services) | | | 327 | | | | 4,979 | |
| Retail Opportunity Investments Corp. (Equity Real Estate Investment Trusts) | | | 1,413 | | | | 23,413 | |
| Retail Value, Inc. (Equity Real Estate Investment Trusts) | | | 230 | | | | 7,560 | |
| Retrophin, Inc.* (Biotechnology) | | | 545 | | | | 8,426 | |
| Revance Therapeutics, Inc.* (Pharmaceuticals) | | | 546 | | | | 12,214 | |
| Rexford Industrial Realty, Inc. (Equity Real Estate Investment Trusts) | | | 1,305 | | | | 62,888 | |
| Rexnord Corp.* (Machinery) | | | 1,305 | | | | 42,608 | |
| RH* (Specialty Retail) | | | 217 | | | | 45,300 | |
| Rhythm Pharmaceuticals, Inc.* (Biotechnology) | | | 327 | | | | 5,736 | |
| Rite Aid Corp.* (Food & Staples Retailing) | | | 654 | | | | 7,815 | |
| RLI Corp. (Insurance) | | | 435 | | | | 40,459 | |
| RLJ Lodging Trust (Equity Real Estate Investment Trusts) | | | 2,066 | | | | 32,147 | |
| Rocket Pharmaceuticals, Inc.* (Biotechnology) | | | 328 | | | | 6,717 | |
| Rogers Corp.* (Electronic Equipment, Instruments & Components) | | | 217 | | | | 25,552 | |
| Rosetta Stone, Inc.* (Entertainment) | | | 217 | | | | 3,722 | |
| RPC, Inc. (Energy Equipment & Services) | | | 764 | | | | 3,461 | |
| RPT Realty (Equity Real Estate Investment Trusts) | | | 978 | | | | 13,643 | |
| Rubius Therapeutics, Inc.* (Biotechnology) | | | 437 | | | | 3,409 | |
| Rush Enterprises, Inc. - Class A (Trading Companies & Distributors) | | | 326 | | | | 14,018 | |
| Ruth's Hospitality Group, Inc. (Hotels, Restaurants & Leisure) | | | 327 | | | | 6,704 | |
| Ryman Hospitality Properties, Inc. - Class I (Equity Real Estate Investment Trusts) | | | 545 | | | | 46,341 | |
| S&T Bancorp, Inc. (Banks) | | | 435 | | | | 16,352 | |
| Sabra Health Care REIT, Inc. (Equity Real Estate Investment Trusts) | | | 2,174 | | | | 46,741 | |
| Safety Insurance Group, Inc. (Insurance) | | | 217 | | | | 19,981 | |
| Saia, Inc.* (Road & Rail) | | | 326 | | | | 28,395 | |
| SailPoint Technologies Holding, Inc.* (Software) | | | 1,088 | | | | 27,298 | |
| Sally Beauty Holdings, Inc.* (Specialty Retail) | | | 1,524 | | | | 23,393 | |
| Sanderson Farms, Inc. (Food Products) | | | 217 | | | | 29,879 | |
| Sandy Spring Bancorp, Inc. (Banks) | | | 435 | | | | 15,138 | |
| Sangamo Therapeutics, Inc.* (Biotechnology) | | | 1,415 | | | | 10,372 | |
| Sanmina Corp.* (Electronic Equipment, Instruments & Components) | | | 871 | | | | 27,733 | |
| Saul Centers, Inc. (Equity Real Estate Investment Trusts) | | | 110 | | | | 5,432 | |
| ScanSource, Inc.* (Electronic Equipment, Instruments & Components) | | | 326 | | | | 11,374 | |
| Schnitzer Steel Industries, Inc. - Class A (Metals & Mining) | | | 327 | | | | 5,258 | |
| Scholastic Corp. (Media) | | | 326 | | | | 10,742 | |
| Schweitzer-Mauduit International, Inc. (Paper & Forest Products) | | | 326 | | | | 11,420 | |
| Science Applications International Corp. (IT Services) | | | 761 | | | | 66,792 | |
| Scientific Games Corp.* - Class A (Hotels, Restaurants & Leisure) | | | 652 | | | | 16,196 | |
| Scorpio Tankers, Inc. (Oil, Gas & Consumable Fuels) | | | 545 | | | | 12,720 | |
| Seacoast Banking Corp.* (Banks) | | | 651 | | | | 17,675 | |
| SEACOR Holdings, Inc.* (Energy Equipment & Services) | | | 217 | | | | 8,157 | |
| SeaWorld Entertainment, Inc.* (Hotels, Restaurants & Leisure) | | | 650 | | | | 22,399 | |
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Select Energy Services, Inc.* (Energy Equipment & Services) | | | 763 | | | $ | 5,310 | |
| Select Medical Holdings Corp.* (Health Care Providers & Services) | | | 1,306 | | | | 29,829 | |
| Selective Insurance Group, Inc. (Insurance) | | | 761 | | | | 50,416 | |
| Semtech Corp.* (Semiconductors & Semiconductor Equipment) | | | 761 | | | | 36,673 | |
| Sensient Technologies Corp. (Chemicals) | | | 545 | | | | 32,564 | |
| Seritage Growth Properties - Class A (Equity Real Estate Investment Trusts) | | | 435 | | | | 15,973 | |
| ServisFirst Bancshares, Inc. (Banks) | | | 545 | | | | 20,029 | |
| SFL Corp., Ltd. (Oil, Gas & Consumable Fuels) | | | 978 | | | | 12,949 | |
| Shake Shack, Inc.* - Class A (Hotels, Restaurants & Leisure) | | | 326 | | | | 21,989 | |
| Shenandoah Telecommunications Co. (Wireless Telecommunication Services) | | | 545 | | | | 21,991 | |
| Shutterstock, Inc.* (Internet & Direct Marketing Retail) | | | 217 | | | | 9,403 | |
| Signet Jewelers, Ltd. (Specialty Retail) | | | 653 | | | | 15,874 | |
| Silicon Laboratories, Inc.* (Semiconductors & Semiconductor Equipment) | | | 545 | | | | 53,579 | |
| Simmons First National Corp. - Class A (Banks) | | | 1,087 | | | | 26,066 | |
| Simply Good Foods Co.* (Food Products) | | | 871 | | | | 20,007 | |
| Simpson Manufacturing Co., Inc. (Building Products) | | | 542 | | | | 44,807 | |
| Siteone Landscape Supply, Inc.* (Trading Companies & Distributors) | | | 545 | | | | 52,619 | |
| SJW Corp. (Water Utilities) | | | 326 | | | | 23,912 | |
| Skyline Corp.* (Household Durables) | | | 650 | | | | 18,688 | |
| SkyWest, Inc. (Airlines) | | | 650 | | | | 35,860 | |
| Sleep Number Corp.* (Specialty Retail) | | | 326 | | | | 16,818 | |
| SM Energy Co. (Oil, Gas & Consumable Fuels) | | | 1,416 | | | | 12,999 | |
| Solaris Oilfield Infrastructure, Inc. (Energy Equipment & Services) | | | 329 | | | | 3,793 | |
| Sonic Automotive, Inc. - Class A (Specialty Retail) | | | 326 | | | | 10,311 | |
| Sonos, Inc.* (Household Durables) | | | 869 | | | | 11,923 | |
| South Jersey Industries, Inc. (Gas Utilities) | | | 1,087 | | | | 33,480 | |
| South State Corp. (Banks) | | | 435 | | | | 32,890 | |
| Southside Bancshares, Inc. (Banks) | | | 435 | | | | 15,260 | |
| Southwest Gas Holdings, Inc. (Gas Utilities) | | | 650 | | | | 49,082 | |
| Southwestern Energy Co.* (Oil, Gas & Consumable Fuels) | | | 6,631 | | | | 10,411 | |
| SP Plus Corp.* (Commercial Services & Supplies) | | | 326 | | | | 13,630 | |
| Spectrum Pharmaceuticals, Inc.* (Biotechnology) | | | 1,307 | | | | 3,307 | |
| Spire, Inc. (Gas Utilities) | | | 650 | | | | 54,807 | |
| Spirit Airlines, Inc.* (Airlines) | | | 868 | | | | 35,649 | |
| SPS Commerce, Inc.* (Software) | | | 435 | | | | 24,721 | |
| SPX Corp.* (Machinery) | | | 545 | | | | 26,743 | |
| SPX FLOW, Inc.* (Machinery) | | | 545 | | | | 23,838 | |
| STAAR Surgical Co.* (Health Care Equipment & Supplies) | | | 545 | | | | 18,334 | |
| STAG Industrial, Inc. (Equity Real Estate Investment Trusts) | | | 1,521 | | | | 49,037 | |
| Stamps.com, Inc.* (Internet & Direct Marketing Retail) | | | 217 | | | | 16,163 | |
| Standard Motor Products, Inc. (Auto Components) | | | 217 | | | | 10,542 | |
| Standex International Corp. (Machinery) | | | 110 | | | | 8,040 | |
| State Auto Financial Corp. (Insurance) | | | 217 | | | | 6,534 | |
| Steelcase, Inc. - Class A (Commercial Services & Supplies) | | | 1,088 | | | | 20,248 | |
| Stemline Therapeutics, Inc.* (Biotechnology) | | | 436 | | | | 2,891 | |
| Stepan Co. (Chemicals) | | | 217 | | | | 21,407 | |
| Steven Madden, Ltd. (Textiles, Apparel & Luxury Goods) | | | 1,086 | | | | 41,876 | |
| Stewart Information Services Corp. (Insurance) | | | 326 | | | | 13,611 | |
| Stifel Financial Corp. (Capital Markets) | | | 868 | | | | 56,150 | |
| Stitch Fix, Inc.* (Internet & Direct Marketing Retail) | | | 545 | | | | 12,481 | |
| Stock Yards BanCorp, Inc. (Banks) | | | 217 | | | | 8,407 | |
| Stoneridge, Inc.* (Auto Components) | | | 326 | | | | 9,082 | |
| Stratasys, Ltd.* (Technology Hardware, Storage & Peripherals) | | | 651 | | | | 11,705 | |
| Strategic Education, Inc. (Diversified Consumer Services) | | | 217 | | | | 35,217 | |
| Sturm, Ruger & Co., Inc. (Leisure Products) | | | 217 | | | | 10,746 | |
| Summit Hotel Properties, Inc. (Equity Real Estate Investment Trusts) | | | 1,307 | | | | 14,495 | |
| Summit Materials, Inc.* - Class A (Construction Materials) | | | 1,414 | | | | 31,066 | |
| SunCoke Energy, Inc. (Metals & Mining) | | | 1,088 | | | | 6,397 | |
| SunPower Corp.* (Semiconductors & Semiconductor Equipment) | | | 761 | | | | 6,484 | |
| Sunrun, Inc.* (Electrical Equipment) | | | 1,305 | | | | 22,224 | |
| Sunstone Hotel Investors, Inc. (Equity Real Estate Investment Trusts) | | | 2,828 | | | | 35,859 | |
| Supernus Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 651 | | | | 14,888 | |
| Surmodics, Inc.* (Health Care Equipment & Supplies) | | | 110 | | | | 4,333 | |
| SVMK, Inc.* (Software) | | | 979 | | | | 17,279 | |
| Sykes Enterprises, Inc.* (IT Services) | | | 435 | | | | 14,612 | |
| Synaptics, Inc.* (Semiconductors & Semiconductor Equipment) | | | 435 | | | | 29,010 | |
| Syneos Health, Inc.* (Life Sciences Tools & Services) | | | 761 | | | | 46,695 | |
| Tabula Rasa Healthcare, Inc.* (Health Care Technology) | | | 217 | | | | 12,601 | |
| Tactile Systems Technology, Inc.* (Health Care Equipment & Supplies) | | | 217 | | | | 12,193 | |
| Talos Energy, Inc.* (Oil, Gas & Consumable Fuels) | | | 218 | | | | 4,783 | |
| Tandem Diabetes Care, Inc.* (Health Care Equipment & Supplies) | | | 650 | | | | 49,426 | |
| Tanger Factory Outlet Centers, Inc. (Equity Real Estate Investment Trusts) | | | 1,086 | | | | 15,888 | |
| Taylor Morrison Home Corp.* - Class A (Household Durables) | | | 1,305 | | | | 33,773 | |
| Team, Inc.* (Commercial Services & Supplies) | | | 327 | | | | 4,447 | |
| Tech Data Corp.* (Electronic Equipment, Instruments & Components) | | | 435 | | | | 62,613 | |
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| TechTarget, Inc.* (Media) | | | 326 | | | $ | 8,277 | |
| TEGNA, Inc. (Media) | | | 2,611 | | | | 44,125 | |
| Teladoc Health, Inc.* (Health Care Technology) | | | 868 | | | | 88,284 | |
| Tellurian, Inc.* (Oil, Gas & Consumable Fuels) | | | 1,199 | | | | 8,417 | |
| Tenable Holdings, Inc.* (Software) | | | 436 | | | | 11,881 | |
| Tenet Healthcare Corp.* (Health Care Providers & Services) | | | 1,305 | | | | 41,290 | |
| Tennant Co. (Machinery) | | | 217 | | | | 16,757 | |
| Tenneco, Inc. (Auto Components) | | | 653 | | | | 6,184 | |
| Terex Corp. (Machinery) | | | 761 | | | | 19,291 | |
| Terraform Power, Inc. - Class A (Independent Power and Renewable Electricity Producers) | | | 869 | | | | 15,720 | |
| Terreno Realty Corp. (Equity Real Estate Investment Trusts) | | | 761 | | | | 43,575 | |
| Tetra Tech, Inc. (Commercial Services & Supplies) | | | 650 | | | | 55,640 | |
| Texas Roadhouse, Inc. - Class A (Hotels, Restaurants & Leisure) | | | 868 | | | | 54,250 | |
| TG Therapeutics, Inc.* (Biotechnology) | | | 981 | | | | 13,940 | |
| The Andersons, Inc. (Food & Staples Retailing) | | | 436 | | | | 9,862 | |
| The Bancorp, Inc.* (Banks) | | | 653 | | | | 7,725 | |
| The Boston Beer Co, Inc.* - Class A (Beverages) | | | 110 | | | | 39,202 | |
| The Brink's Co. (Commercial Services & Supplies) | | | 650 | | | | 54,724 | |
| The Buckle, Inc. (Specialty Retail) | | | 327 | | | | 7,982 | |
| The Cheesecake Factory, Inc. (Hotels, Restaurants & Leisure) | | | 545 | | | | 20,928 | |
| The Children's Place, Inc. (Specialty Retail) | | | 217 | | | | 12,948 | |
| The E.W. Scripps Co. - Class A (Media) | | | 653 | | | | 7,927 | |
| The Ensign Group, Inc. (Health Care Providers & Services) | | | 650 | | | | 29,380 | |
| The GEO Group, Inc. (Equity Real Estate Investment Trusts) | | | 1,413 | | | | 22,325 | |
| The Greenbrier Cos., Inc. (Machinery) | | | 435 | | | | 10,479 | |
| The Manitowoc Co., Inc.* (Machinery) | | | 436 | | | | 6,300 | |
| The Marcus Corp. (Entertainment) | | | 326 | | | | 9,503 | |
| The Michaels Cos., Inc.* (Specialty Retail) | | | 1,089 | | | | 5,369 | |
| The Providence Service Corp.* (Health Care Providers & Services) | | | 110 | | | | 7,134 | |
| The St Joe Co.* (Real Estate Management & Development) | | | 436 | | | | 9,160 | |
| TherapeuticsMD, Inc.* (Pharmaceuticals) | | | 2,393 | | | | 5,384 | |
| Theravance Biopharma, Inc.* (Pharmaceuticals) | | | 544 | | | | 15,167 | |
| Thermon Group Holdings, Inc.* (Electrical Equipment) | | | 435 | | | | 10,310 | |
| Third Point Reinsurance, Ltd.* (Insurance) | | | 870 | | | | 9,474 | |
| Tidewater, Inc.* (Energy Equipment & Services) | | | 436 | | | | 6,618 | |
| Tivity Health, Inc.* (Health Care Providers & Services) | | | 545 | | | | 11,797 | |
| TiVo Corp. (Software) | | | 1,524 | | | | 11,095 | |
| Tompkins Financial Corp. (Banks) | | | 217 | | | | 18,682 | |
| Tootsie Roll Industries, Inc. (Food Products) | | | 217 | | | | 7,402 | |
| TopBuild Corp.* (Household Durables) | | | 435 | | | | 49,812 | |
| TowneBank (Banks) | | | 761 | | | | 20,205 | |
| TPG RE Finance Trust, Inc. - Class T (Mortgage Real Estate Investment Trusts) | | | 652 | | | | 13,346 | |
| TPI Composites, Inc.* (Electrical Equipment) | | | 327 | | | | 6,785 | |
| Tredegar Corp. (Chemicals) | | | 327 | | | | 6,654 | |
| Trex Co., Inc.* (Building Products) | | | 761 | | | | 74,762 | |
| TRI Pointe Group, Inc.* (Household Durables) | | | 1,740 | | | | 28,292 | |
| Tricida, Inc.* (Pharmaceuticals) | | | 217 | | | | 7,651 | |
| TriCo Bancshares (Banks) | | | 326 | | | | 11,866 | |
| TriMas Corp.* (Machinery) | | | 545 | | | | 15,658 | |
| TriNet Group, Inc.* (Professional Services) | | | 545 | | | | 31,098 | |
| Trinseo SA (Chemicals) | | | 545 | | | | 15,652 | |
| Triple-S Management Corp.* (Health Care Providers & Services) | | | 230 | | | | 4,053 | |
| Tristate Capital Holdings, Inc.* (Banks) | | | 327 | | | | 7,518 | |
| Triton International, Ltd. (Trading Companies & Distributors) | | | 650 | | | | 24,408 | |
| Triumph Bancorp, Inc.* (Banks) | | | 326 | | | | 12,707 | |
| Triumph Group, Inc. (Aerospace & Defense) | | | 651 | | | | 13,300 | |
| Tronox Holdings PLC - Class A (Chemicals) | | | 1,198 | | | | 10,135 | |
| TrueBlue, Inc.* (Professional Services) | | | 436 | | | | 9,553 | |
| TrueCar, Inc.* (Interactive Media & Services) | | | 1,306 | | | | 4,832 | |
| Trupanion, Inc.* (Insurance) | | | 326 | | | | 10,406 | |
| TrustCo Bank Corp. (Thrifts & Mortgage Finance) | | | 1,199 | | | | 9,508 | |
| Trustmark Corp. (Banks) | | | 761 | | | | 24,337 | |
| TTEC Holdings, Inc. (IT Services) | | | 217 | | | | 8,619 | |
| TTM Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | | 1,197 | | | | 17,225 | |
| Tucows, Inc.* (IT Services) | | | 110 | | | | 6,628 | |
| Tupperware Brands Corp. (Household Durables) | | | 546 | | | | 3,418 | |
| Tutor Perini Corp.* (Construction & Engineering) | | | 434 | | | | 4,887 | |
| Twin River Worldwide Holdings, Inc. (Hotels, Restaurants & Leisure) | | | 217 | | | | 5,783 | |
| Twist Bioscience Corp.* (Biotechnology) | | | 217 | | | | 5,390 | |
| U.S. Concrete, Inc.* (Construction Materials) | | | 217 | | | | 7,723 | |
| U.S. Ecology, Inc. (Commercial Services & Supplies) | | | 217 | | | | 11,720 | |
| U.S. Physical Therapy, Inc. (Health Care Providers & Services) | | | 110 | | | | 12,885 | |
| U.S. Silica Holdings, Inc. (Energy Equipment & Services) | | | 872 | | | | 4,482 | |
| Ultra Clean Holdings, Inc.* (Semiconductors & Semiconductor Equipment) | | | 436 | | | | 10,032 | |
| Ultragenyx Pharmaceutical, Inc.* (Biotechnology) | | | 650 | | | | 34,158 | |
| UMB Financial Corp. (Banks) | | | 545 | | | | 36,221 | |
| UMH Properties, Inc. (Equity Real Estate Investment Trusts) | | | 436 | | | | 6,889 | |
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| UniFirst Corp. (Commercial Services & Supplies) | | | 217 | | | $ | 44,253 | |
| Unisys Corp.* (IT Services) | | | 653 | | | | 6,341 | |
| Unit Corp.* (Energy Equipment & Services) | | | 650 | | | | 260 | |
| United Bankshares, Inc. (Banks) | | | 1,197 | | | | 41,057 | |
| United Community Banks, Inc. (Banks) | | | 978 | | | | 27,306 | |
| United Fire Group, Inc. (Insurance) | | | 217 | | | | 9,604 | |
| United Natural Foods, Inc.* (Food & Staples Retailing) | | | 652 | | | | 4,694 | |
| Uniti Group, Inc. (Equity Real Estate Investment Trusts) | | | 2,286 | | | | 14,470 | |
| Unitil Corp. (Multi-Utilities) | | | 217 | | | | 13,387 | |
| Universal Corp. (Tobacco) | | | 326 | | | | 17,327 | |
| Universal Electronics, Inc.* (Household Durables) | | | 217 | | | | 10,748 | |
| Universal Forest Products, Inc. (Building Products) | | | 761 | | | | 36,452 | |
| Universal Health Realty Income Trust (Equity Real Estate Investment Trusts) | | | 110 | | | | 13,569 | |
| Universal Insurance Holdings, Inc. (Insurance) | | | 326 | | | | 7,935 | |
| Univest Financial Corp. (Banks) | | | 326 | | | | 8,098 | |
| Upland Software, Inc.* (Software) | | | 326 | | | | 12,727 | |
| Upwork, Inc.* (Professional Services) | | | 652 | | | | 5,985 | |
| Urban Edge Properties (Equity Real Estate Investment Trusts) | | | 1,414 | | | | 26,003 | |
| Urogen Pharma, Ltd.* (Biotechnology) | | | 217 | | | | 6,382 | |
| Urstadt Biddle Properties, Inc. - Class A (Equity Real Estate Investment Trusts) | | | 327 | | | | 7,413 | |
| USANA Health Sciences, Inc.* (Personal Products) | | | 217 | | | | 13,389 | |
| Valley National Bancorp (Banks) | | | 4,675 | | | | 49,228 | |
| Vanda Pharmaceuticals, Inc.* (Biotechnology) | | | 653 | | | | 8,326 | |
| Varex Imaging Corp.* (Health Care Equipment & Supplies) | | | 435 | | | | 12,028 | |
| Varonis Systems, Inc.* (Software) | | | 326 | | | | 27,273 | |
| Vector Group, Ltd. (Tobacco) | | | 1,372 | | | | 18,028 | |
| Vectrus, Inc.* (Aerospace & Defense) | | | 110 | | | | 6,133 | |
| Veeco Instruments, Inc.* (Semiconductors & Semiconductor Equipment) | | | 545 | | | | 6,949 | |
| Veracyte, Inc.* (Biotechnology) | | | 542 | | | | 14,228 | |
| Vericel Corp.* (Biotechnology) | | | 545 | | | | 8,938 | |
| Verint Systems, Inc.* (Software) | | | 761 | | | | 44,138 | |
| Veritex Holdings, Inc. (Banks) | | | 651 | | | | 18,436 | |
| Verra Mobility Corp.* - Class C (IT Services) | | | 1,197 | | | | 19,068 | |
| Verso Corp.* - Class A (Paper & Forest Products) | | | 437 | | | | 7,363 | |
| Viad Corp. (Commercial Services & Supplies) | | | 217 | | | | 14,105 | |
| Viavi Solutions, Inc.* (Communications Equipment) | | | 2,828 | | | | 39,875 | |
| Vicor Corp.* (Electrical Equipment) | | | 217 | | | | 10,861 | |
| ViewRay, Inc.* (Health Care Equipment & Supplies) | | | 870 | | | | 2,714 | |
| Viking Therapeutics, Inc.* (Biotechnology) | | | 764 | | | | 4,798 | |
| Virtus Investment Partners, Inc. (Capital Markets) | | | 110 | | | | 13,533 | |
| Virtusa Corp.* (IT Services) | | | 326 | | | | 13,575 | |
| Vishay Intertechnology, Inc. (Electronic Equipment, Instruments & Components) | | | 1,633 | | | | 33,134 | |
| Vista Outdoor, Inc.* (Leisure Products) | | | 653 | | | | 4,852 | |
| Visteon Corp.* (Auto Components) | | | 326 | | | | 26,018 | |
| Vocera Communications, Inc.* (Health Care Technology) | | | 327 | | | | 7,204 | |
| Vonage Holdings Corp.* (Diversified Telecommunication Services) | | | 2,718 | | | | 24,109 | |
| Voyager Therapeutics, Inc.* (Biotechnology) | | | 328 | | | | 3,618 | |
| W&T Offshore, Inc.* (Oil, Gas & Consumable Fuels) | | | 1,198 | | | | 4,960 | |
| Wabash National Corp. (Machinery) | | | 653 | | | | 7,575 | |
| Waddell & Reed Financial, Inc. - Class A (Capital Markets) | | | 869 | | | | 13,887 | |
| Walker & Dunlop, Inc. (Thrifts & Mortgage Finance) | | | 326 | | | | 21,637 | |
| Warrior Met Coal, Inc. (Metals & Mining) | | | 651 | | | | 12,278 | |
| Washington Federal, Inc. (Thrifts & Mortgage Finance) | | | 978 | | | | 33,252 | |
| Washington Prime Group, Inc. (Equity Real Estate Investment Trusts) | | | 2,284 | | | | 6,875 | |
| Washington Real Estate Investment Trust (Equity Real Estate Investment Trusts) | | | 978 | | | | 29,770 | |
| Washington Trust BanCorp, Inc. (Banks) | | | 217 | | | | 10,271 | |
| Waterstone Financial, Inc. (Thrifts & Mortgage Finance) | | | 328 | | | | 5,737 | |
| Watford Holdings, Ltd.* (Insurance) | | | 217 | | | | 4,741 | |
| Watts Water Technologies, Inc. - Class A (Machinery) | | | 326 | | | | 32,505 | |
| WaVe Life Sciences, Ltd.* (Pharmaceuticals) | | | 326 | | | | 2,315 | |
| WD-40 Co. (Household Products) | | | 217 | | | | 40,540 | |
| Welbilt, Inc.* (Machinery) | | | 1,632 | | | | 24,627 | |
| Werner Enterprises, Inc. (Road & Rail) | | | 545 | | | | 20,089 | |
| WesBanco, Inc. (Banks) | | | 759 | | | | 25,138 | |
| Westamerica Bancorp (Banks) | | | 326 | | | | 20,655 | |
| Western Asset Mortgage Capital Corp. (Mortgage Real Estate Investment Trusts) | | | 547 | | | | 5,804 | |
| Whitestone REIT (Equity Real Estate Investment Trusts) | | | 436 | | | | 5,712 | |
| Whiting Petroleum Corp.* (Oil, Gas & Consumable Fuels) | | | 1,088 | | | | 4,940 | |
| William Lyon Homes* - Class A (Household Durables) | | | 436 | | | | 10,111 | |
| Willscot Corp.* (Construction & Engineering) | | | 653 | | | | 12,309 | |
| Wingstop, Inc. (Hotels, Restaurants & Leisure) | | | 326 | | | | 30,243 | |
| Winnebago Industries, Inc. (Automobiles) | | | 326 | | | | 17,852 | |
| WisdomTree Investments, Inc. (Capital Markets) | | | 1,633 | | | | 6,875 | |
| Wolverine World Wide, Inc. (Textiles, Apparel & Luxury Goods) | | | 1,087 | | | | 34,317 | |
| Workiva, Inc.* (Software) | | | 435 | | | | 19,788 | |
| World Acceptance Corp.* (Consumer Finance) | | | 110 | | | | 9,512 | |
| World Fuel Services Corp. (Oil, Gas & Consumable Fuels) | | | 761 | | | | 29,769 | |
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Worthington Industries, Inc. (Metals & Mining) | | | 435 | | | $ | 15,999 | |
| Wright Medical Group N.V.* (Health Care Equipment & Supplies) | | | 1,521 | | | | 45,843 | |
| WSFS Financial Corp. (Thrifts & Mortgage Finance) | | | 650 | | | | 25,929 | |
| WW International, Inc.* (Diversified Consumer Services) | | | 545 | | | | 17,974 | |
| Xencor, Inc.* (Biotechnology) | | | 545 | | | | 18,497 | |
| Xenia Hotels & Resorts, Inc. (Equity Real Estate Investment Trusts) | | | 1,413 | | | | 26,409 | |
| Xperi Corp. (Semiconductors & Semiconductor Equipment) | | | 654 | | | | 10,523 | |
| Yelp, Inc.* (Interactive Media & Services) | | | 868 | | | | 28,297 | |
| Yeti Holdings, Inc.* (Leisure Products) | | | 437 | | | | 15,889 | |
| Yext, Inc.* (Software) | | | 1,086 | | | | 16,225 | |
| Y-mAbs Therapeutics, Inc.* (Biotechnology) | | | 218 | | | | 7,192 | |
| York Water Co. (Water Utilities) | | | 110 | | | | 5,210 | |
| ZIOPHARM Oncology, Inc.* (Biotechnology) | | | 1,958 | | | | 7,715 | |
| ZixCorp.* (Software) | | | 652 | | | | 4,401 | |
| Zogenix, Inc.* (Pharmaceuticals) | | | 545 | | | | 27,452 | |
| Zumiez, Inc.* (Specialty Retail) | | | 217 | | | | 6,764 | |
| Zuora, Inc.* - Class A (Software) | | | 1,087 | | | | 16,033 | |
| TOTAL COMMON STOCKS | | | | | | | | |
| (Cost $15,759,154) | | | | | | | 22,173,461 | |
| | | | | | | | | |
| Contingent Right(NM) | | | | | | | | |
| A. Schulman, Inc.*+(a) (Chemicals) | | | 536 | | | | 280 | |
| TOTAL CONTINGENT RIGHT | | | | | | | | |
| (Cost $1,072) | | | | | | | 280 | |
Trust (0.0%)
| | | Interest
Units | | | Value | |
| Ferroglobe PLC*+ (Metals & Mining) | | | 1,320 | | | $ | – | |
TOTAL TRUST
(Cost $-) | | | | | | | – | |
Repurchase Agreements(b)(c) (41.5%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 1.32%-1.51%, dated 1/31/20, due 2/3/20, total to be received $18,691,269 | | $ | 18,689,000 | | | $ | 18,689,000 | |
| TOTAL REPURCHASE AGREEMENTS | | | | | | | | |
| (Cost $18,689,000) | | | | | | | 18,689,000 | |
| | | | | | | | | |
| TOTAL INVESTMENT SECURITIES | | | | | | | | |
| (Cost $34,449,226) - 90.7% | | | | | | | 40,862,741 | |
| Net other assets (liabilities) - 9.3% | | | | | | | 4,182,976 | |
| NET ASSETS - 100.0% | | | | | | $ | 45,045,717 | |
| * | Non-income producing security. |
| + | These securities were fair valued based on procedures approved by the Board of Trustees. As of January 31, 2020, these securities represented less than 0.005% of the net assets of the Fund. |
| (a) | No explicit expiration date, expiration is subject to contingencies. In August 2018, LyondellBasell Industries N.V. completed an acquisition of 100% of A. Schulman, Inc. in exchange for cash and a contingent right per share acquired. Rights entitle the Fund to certain net proceeds, if any, that are recovered from ongoing litigation and government investigations related to past acquisitions made my A. Schulman, Inc. |
| (b) | A portion of these securities were held in a segregated account for the benefit of swap counterparties in the event of default. As of January 31, 2020, the aggregate amount held in a segregated account was $7,278,000. |
| (c) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
Futures Contracts Purchased
| | | Number
of
Contracts | | | Expiration
Date | | | Notional Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini Russell 2000 Index Futures Contracts | | | 68 | | | | 3/23/20 | | | $ | 5,489,640 | | | $ | (116,043 | ) |
Total Return Swap Agreements — Long
| Underlying Instrument | | Counterparty | | Termination Date(1) | | Rate Paid
(Received)(2) | | Notional Amount | | | Value and Unrealized
Appreciation/ (Depreciation) | |
| iShares Russell 2000 ETF | | Goldman Sachs International | | 2/27/20 | | 1.64 | % | $ | 10,757,613 | | | $ | (163,741 | ) |
| Russell 2000 Index | | Goldman Sachs International | | 2/27/20 | | 1.84 | % | | 21,986,101 | | | | (416,434 | ) |
| | | | | | | | | $ | 32,743,714 | | | $ | (580,175 | ) |
| | | | | | | | | | | | | | | |
| iShares Russell 2000 ETF | | UBS AG | | 2/27/20 | | 1.39 | % | $ | 12,718,295 | | | $ | (179,211 | ) |
| Russell 2000 Index | | UBS AG | | 2/27/20 | | 1.59 | % | | 16,612,789 | | | | (157,454 | ) |
| | | | | | | | | $ | 29,331,084 | | | $ | (336,665 | ) |
| | | | | | | | | $ | 62,074,798 | | | $ | (916,840 | ) |
| (1) | Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. |
| (2) | Reflects the floating financing rate, as of January 31, 2020, 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). |
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2020 (unaudited)
UltraSmall-Cap ProFund invested in the following industries as of January 31, 2020:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 336,514 | | | | 0.7 | % |
| Air Freight & Logistics | | | 73,917 | | | | 0.2 | % |
| Airlines | | | 105,188 | | | | 0.2 | % |
| Auto Components | | | 253,906 | | | | 0.6 | % |
| Automobiles | | | 17,852 | | | | NM | |
| Banks | | | 2,055,935 | | | | 4.6 | % |
| Beverages | | | 84,013 | | | | 0.2 | % |
| Biotechnology | | | 1,364,291 | | | | 2.9 | % |
| Building Products | | | 401,160 | | | | 0.9 | % |
| Capital Markets | | | 346,288 | | | | 0.8 | % |
| Chemicals | | | 417,067 | | | | 0.9 | % |
| Commercial Services & Supplies | | | 662,713 | | | | 1.5 | % |
| Communications Equipment | | | 257,509 | | | | 0.6 | % |
| Construction & Engineering | | | 235,130 | | | | 0.5 | % |
| Construction Materials | | | 38,789 | | | | 0.1 | % |
| Consumer Finance | | | 143,673 | | | | 0.3 | % |
| Containers & Packaging | | | 20,215 | | | | NM | |
| Distributors | | | 16,013 | | | | NM | |
| Diversified Consumer Services | | | 206,941 | | | | 0.5 | % |
| Diversified Financial Services | | | 58,655 | | | | 0.1 | % |
| Diversified Telecommunication Services | | | 126,291 | | | | 0.3 | % |
| Electric Utilities | | | 269,599 | | | | 0.6 | % |
| Electrical Equipment | | | 265,464 | | | | 0.6 | % |
| Electronic Equipment, Instruments & Components | | | 592,798 | | | | 1.3 | % |
| Energy Equipment & Services | | | 163,736 | | | | 0.4 | % |
| Entertainment | | | 49,278 | | | | 0.1 | % |
| Equity Real Estate Investment Trusts | | | 1,648,718 | | | | 3.6 | % |
| Food & Staples Retailing | | | 159,816 | | | | 0.4 | % |
| Food Products | | | 280,290 | | | | 0.6 | % |
| Gas Utilities | | | 288,467 | | | | 0.6 | % |
| Health Care Equipment & Supplies | | | 879,951 | | | | 2.0 | % |
| Health Care Providers & Services | | | 502,951 | | | | 1.1 | % |
| Health Care Technology | | | 251,795 | | | | 0.6 | % |
| Hotels, Restaurants & Leisure | | | 631,639 | | | | 1.4 | % |
| Household Durables | | | 456,952 | | | | 1.0 | % |
| Household Products | | | 56,868 | | | | 0.1 | % |
| Independent Power and Renewable Electricity Producers | | | 106,909 | | | | 0.2 | % |
| Industrial Conglomerates | | | 13,642 | | | | NM | |
| Insurance | | | 512,524 | | | | 1.1 | % |
| Interactive Media & Services | | | 95,608 | | | | 0.2 | % |
| Internet & Direct Marketing Retail | | | 68,888 | | | | 0.2 | % |
| IT Services | | | 531,342 | | | | 1.2 | % |
| Leisure Products | | | 83,908 | | | | 0.2 | % |
| Life Sciences Tools & Services | | | 163,363 | | | | 0.4 | % |
| Machinery | | | 882,141 | | | | 2.0 | % |
| Marine | | | 19,625 | | | | NM | |
| Media | | | 169,543 | | | | 0.4 | % |
| Metals & Mining | | | 269,198 | | | | 0.6 | % |
| Mortgage Real Estate Investment Trusts | | | 316,700 | | | | 0.7 | % |
| Multiline Retail | | | 18,477 | | | | NM | |
| Multi-Utilities | | | 165,300 | | | | 0.4 | % |
| Oil, Gas & Consumable Fuels | | | 339,987 | | | | 0.8 | % |
| Paper & Forest Products | | | 104,757 | | | | 0.2 | % |
| Personal Products | | | 55,824 | | | | 0.1 | % |
| Pharmaceuticals | | | 390,112 | | | | 0.9 | % |
| Professional Services | | | 357,163 | | | | 0.8 | % |
| Real Estate Management & Development | | | 170,880 | | | | 0.4 | % |
| Road & Rail | | | 118,788 | | | | 0.3 | % |
| Semiconductors & Semiconductor Equipment | | | 641,973 | | | | 1.4 | % |
| Software | | | 1,103,744 | | | | 2.5 | % |
| Specialty Retail | | | 532,506 | | | | 1.2 | % |
| Technology Hardware, Storage & Peripherals | | | 38,405 | | | | 0.1 | % |
| Textiles, Apparel & Luxury Goods | | | 225,373 | | | | 0.5 | % |
| Thrifts & Mortgage Finance | | | 464,533 | | | | 1.0 | % |
| Tobacco | | | 35,355 | | | | 0.1 | % |
| Trading Companies & Distributors | | | 318,211 | | | | 0.7 | % |
| Water Utilities | | | 110,452 | | | | 0.2 | % |
| Wireless Telecommunication Services | | | 28,128 | | | | 0.1 | % |
| Other ** | | | 22,871,976 | | | | 50.8 | % |
| Total | | $ | 45,045,717 | | | | 100.0 | % |
| ** | Includes any non-equity securities and net other assets (liabilities), which includes any receivable for capital shares issued and payable for capital shares redeemed. |
| NM | Not meaningful, amount is less than 0.05%. |
(b) Not applicable.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10. Submission of Matters to a Vote of Security Holders.
Not applicable.
Item 11. Controls and Procedures.
| (a) | The registrant’s principal executive officer and principal financial officer have concluded, based on their evaluation of the registrant’s disclosure controls and procedures as conducted within 90 days of the filing date of this report, that those disclosure controls and procedures provide reasonable assurance that material information required to be disclosed by the registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms. |
| (b) | There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Act (17CFR 270.30a-3(d)) that occurred during the second fiscal quarter of the period covered by this report that have materially affected or are reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item 13. Exhibits.
(a)(1) Not applicable - only for annual reports.
(a)(2) Certifications pursuant to Rule 30a-2(a) are attached hereto.
(a)(3) Not applicable.
(a)(4) Not applicable.
(b) Certifications pursuant to Rule 30a-2(b) are furnished hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| By (Signature and Title)* | /s/ Christopher E. Sabato | |
| | Christopher E. Sabato, Treasurer and Principal Financial Officer | |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
| By (Signature and Title)* | /s/ Todd B. Johnson | |
| | Todd B. Johnson, President and Principal Executive Officer | |
| By (Signature and Title)* | /s/ Christopher E. Sabato | |
| | Christopher E. Sabato, Treasurer and Principal Financial Officer | |
*Print the name and title of each signing officer under his or her signature.
